XML 28 R16.htm IDEA: XBRL DOCUMENT
v3.20.2

Segment Information | 9 Months Ended
--- | ---
Oct. 31, 2020
Segment Reporting [Abstract] |
Segment Information | Segment InformationThe Company’s businesses are grouped into five reportable segments for management and internal financial reporting purposes: Americas Retail, Americas Wholesale, Europe, Asia and Licensing. The Company’s Americas Retail, Americas Wholesale, Europe and Licensing reportable segments are the same as their respective operating segments. Certain components of the Company’s Asia operating segment are separate operating segments based on region, which have been aggregated into the Asia reportable segment for disclosure purposes. Management evaluates segment performance based primarily on revenues and earnings (loss) from operations before corporate performance-based compensation costs, asset impairment charges, net gains (losses) on lease modifications, restructuring charges and certain non-recurring credits (charges), if any. The Company believes this segment reporting reflects how its business segments are managed and how each segment’s performance is evaluated by the Company’s chief operating decision maker to assess performance and make resource allocation decisions. The Americas Retail segment includes the Company’s retail and e-commerce operations in the Americas. The Americas Wholesale segment includes the Company’s wholesale operations in the Americas. The Europe segment includes the Company’s retail, e-commerce and wholesale operations in Europe and the Middle East. The Asia segment includes the Company’s retail, e‑commerce and wholesale operations in Asia and the Pacific. The Licensing segment includes the worldwide licensing operations of the Company. The business segment operating results exclude corporate overhead costs, which consist of shared costs of the organization, asset impairment charges, net gains (losses) on lease modifications, restructuring charges and certain non-recurring credits (charges), if any. Corporate overhead costs are presented separately and generally include, among other things, the following unallocated corporate costs: accounting and finance, executive compensation, corporate performance-based compensation, facilities, global advertising and marketing, human resources, information technology and legal. Net revenue and earnings (loss) from operations are summarized as follows for the three and nine months ended October 31, 2020 and November 2, 2019 (in thousands):
| Three Months Ended |  | Nine Months Ended
| Oct 31, 2020 |  | Nov 2, 2019 |  | Oct 31, 2020 |  | Nov 2, 2019
Net revenue: |  |  |  |  |  |  |
Americas Retail | $ | 130,328 |  |  | $ | 177,824 |  |  | $ | 314,977 |  |  | $ | 553,213 |
Americas Wholesale | 35,971 |  |  | 56,398 |  |  | 82,131 |  |  | 144,505 |
Europe | 321,574 |  |  | 277,253 |  |  | 633,898 |  |  | 827,817 |
Asia | 61,978 |  |  | 82,261 |  |  | 152,554 |  |  | 250,752 |
Licensing | 19,433 |  |  | 22,208 |  |  | 44,514 |  |  | 59,568 |
Total net revenue | $ | 569,284 |  |  | $ | 615,944 |  |  | $ | 1,228,074 |  |  | $ | 1,835,855 |
Earnings (loss) from operations: |  |  |  |  |  |  |
Americas Retail | $ | 473 |  |  | $ | 1,601 |  |  | $ | (40,904) |  |  | $ | 5,746 |
Americas Wholesale | 8,247 |  |  | 11,216 |  |  | 11,559 |  |  | 27,452 |
Europe | 51,476 |  |  | 19,475 |  |  | 27,865 |  |  | 54,742 |
Asia | 1,415 |  |  | (2,432) |  |  | (24,729) |  |  | (10,435) |
Licensing | 18,228 |  |  | 19,372 |  |  | 39,833 |  |  | 51,563 |
Total segment earnings from operations | 79,839 |  |  | 49,232 |  |  | 13,624 |  |  | 129,068 |
Corporate overhead | (25,058) |  |  | (24,736) |  |  | (71,167) |  |  | (79,777) |
Asset impairment charges 1 | (10,335) |  |  | (1,847) |  |  | (75,276) |  |  | (5,126) |
Net gains on lease modifications 2 | 21 |  |  | — |  |  | 450 |  |  | — |
Total earnings (loss) from operations | $ | 44,467 |  |  | $ | 22,649 |  |  | $ | (132,369) |  |  | $ | 44,165 |
______________________________________________________________________ Notes: 1 During the three and nine months ended October 31, 2020, the Company recognized asset impairment charges related primarily to impairment of certain operating lease ROU assets and impairment of property and equipment related to certain retail locations resulting from lower revenue and future cash flow projections from the ongoing effects of the COVID-19 pandemic. During the three and nine months ended November 2, 2019, the Company’s asset impairment charges related primarily to impairment of property and equipment related to certain retail locations resulting from under-performance and expected store closures. Refer to Note 2 and Note 15 for more information regarding these asset impairment charges. 2 During the three and nine months ended October 31, 2020, the Company recorded net gains on lease modifications related primarily to the early termination of lease agreements for certain of the Company’s retail locations. The table below presents information regarding geographic areas in which the Company operated. Net revenue is classified primarily based on the country where the Company’s customer is located (in thousands):
| Three Months Ended |  | Nine Months Ended
| Oct 31, 2020 |  | Nov 2, 2019 |  | Oct 31, 2020 |  | Nov 2, 2019
Net revenue: |  |  |  |  |  |  |
U.S. | $ | 116,205 |  |  | $ | 164,807 |  |  | $ | 282,872 |  |  | $ | 505,735 |
Italy | 77,050 |  |  | 61,952 |  |  | 133,073 |  |  | 198,884 |
Germany | 43,321 |  |  | 32,619 |  |  | 88,059 |  |  | 83,357 |
South Korea | 32,681 |  |  | 38,596 |  |  | 82,997 |  |  | 105,411 |
Canada | 31,691 |  |  | 47,042 |  |  | 72,542 |  |  | 129,624 |
Spain | 30,217 |  |  | 33,511 |  |  | 63,594 |  |  | 101,408 |
France | 31,836 |  |  | 28,478 |  |  | 61,291 |  |  | 85,373 |
Other foreign countries | 186,850 |  |  | 186,731 |  |  | 399,132 |  |  | 566,495 |
Total product sales | 549,851 |  |  | 593,736 |  |  | 1,183,560 |  |  | 1,776,287 |
Net royalties | 19,433 |  |  | 22,208 |  |  | 44,514 |  |  | 59,568 |
Net revenue | $ | 569,284 |  |  | $ | 615,944 |  |  | $ | 1,228,074 |  |  | $ | 1,835,855 |
Due to the seasonal nature of the Company’s business segments, the above net revenue and operating results are not necessarily indicative of the results that may be expected for the full fiscal year.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration