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Quarterly Information (Unaudited) (Tables) | 12 Months Ended
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Jan. 29, 2022
Quarterly Financial Information Disclosure [Abstract] |
Summary of the unaudited quarterly financial information | The following is a summary of the unaudited quarterly financial information (in thousands, except per share data):
|  |  | Quarterly Periods Ended 1
Year Ended January 29, 2022 |  |  | May 1, 2021 |  | Jul 31, 2021 |  | Oct 30, 2021 |  | Jan 29, 2022
Net revenue |  |  | $ | 520,002 |  |  | $ | 628,624 |  |  | $ | 643,070 |  |  | $ | 799,935 |
Gross profit |  |  | 211,558 |  |  | 294,086 |  |  | 293,604 |  |  | 370,257 |
Net earnings |  |  | 12,870 |  |  | 63,147 |  |  | 32,367 |  |  | 71,665 |
Net earnings attributable to Guess?, Inc. |  |  | 12,006 |  |  | 61,062 |  |  | 29,880 |  |  | 68,415 |
Net earnings per common share attributable to common stockholders 2,3,4,5,6: |  |  |  |  |  |  |  |  |
Basic |  |  | $ | 0.19 |  |  | $ | 0.94 |  |  | $ | 0.46 |  |  | $ | 1.07 |
Diluted |  |  | $ | 0.18 |  |  | $ | 0.91 |  |  | $ | 0.45 |  |  | $ | 1.04 |
Year Ended January 30, 2021 |  |  | May 2, 2020 |  | Aug 1, 2020 |  | Oct 31, 2020 |  | Jan 30, 2021
Net revenue |  |  | $ | 260,251 |  |  | $ | 398,539 |  |  | $ | 569,284 |  |  | $ | 648,455 |
Gross profit |  |  | 34,229 |  |  | 147,028 |  |  | 239,520 |  |  | 276,325 |
Net earnings (loss) |  |  | (160,538) |  |  | (20,692) |  |  | 27,554 |  |  | 72,935 |
Net earnings (loss) attributable to Guess?, Inc. |  |  | (157,666) |  |  | (20,358) |  |  | 26,376 |  |  | 70,419 |
Net earnings (loss) per common share attributable to common stockholders 2,3,4,5,6,7,8: |  |  |  |  |  |  |  |  |
Basic |  |  | $ | (2.40) |  |  | $ | (0.31) |  |  | $ | 0.41 |  |  | $ | 1.10 |
Diluted |  |  | $ | (2.40) |  |  | $ | (0.31) |  |  | $ | 0.41 |  |  | $ | 1.07 |
______________________________________________________________________ 1 All fiscal quarters presented consisted of 13 weeks. 2 Per common share amounts for the quarters and full years have been calculated separately. Accordingly, quarterly amounts may not add to the annual amount because of differences in the average common shares outstanding during each period. In addition, holders of the Company’s restricted stock awards are not required to participate in losses of the Company. Therefore, in periods in which the Company reported a net loss, such losses were not allocated to these participating securities, and, as a result, basic and diluted net loss per share were the same in those periods. 3 Per common share amounts reflect the net impact of share repurchases, cash interest expense and amortization of debt discount and debt issuance costs related to the $300 million convertible senior notes. Refer to Note 23 and Note 10 for further information regarding share repurchases and the Company’s convertible senior notes. 4 The Company recorded certain professional service and legal fees and related (credits) costs of $1.1 million, $0.1 million, $0.6 million, and $0.9 million during the first, second, third and fourth quarters of 2022, respectively. The Company recorded $0.3 million, $(0.2) million, $(0.2) million, and $(0.5) million of certain professional service and legal fees and related (credits) costs during the first, second, third and fourth quarters of fiscal 2021, respectively. 5 The Company recorded asset impairment charges of $0.4 million, $1.5 million, $1.2 million, and $0.1 million during the first, second, third and fourth quarters of fiscal 2022, respectively. The Company also recorded asset impairment charges of $53.0 million, $12.0 million, $10.3 million, and $5.2 million during the first, second, third and fourth quarters of fiscal 2021, respectively. The asset impairment charges related primarily to impairment of operating lease right-of-use assets and 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. Refer to Notes 5 and 9 for further information. 6 The Company recorded net gains (losses) on lease modifications of $2.1 million, $0.4 million, $(3.0) million and $0.7 million during the first, second, third and fourth quarters of fiscal 2022, respectively. The Company also recorded net gains (losses) on lease modifications of $(0.5) million, $0.9 million and $2.4 million during the first, second and fourth quarters of fiscal 2021. Refer to Note 1 for further information regarding net gains (losses) on lease modifications. 7 During fiscal 2021, the Company recorded discrete tax adjustments related primarily to the negative impact from cumulative valuation allowances, partially offset by tax benefits from a tax rate change due to net operating loss carryback. The Company recognized an increase (decrease) in valuation allowances of $3.7 million, $1.2 million and $(0.7) million resulting from jurisdictions where there have been cumulative net operating losses, limiting the Company’s ability to consider other subjective evidence to continue to recognize the existing deferred tax assets during the first, third and fourth quarters of fiscal 2021, respectively. This was partially offset by tax benefits (expenses) of approximately $11.8 million, $(7.9) million, $0.7 million and $(3.8) million recorded during the first, second, third and fourth quarters of fiscal 2021 respectively, resulting from a tax rate change related to the ability to carryback net operating losses to tax years with a higher federal corporate tax rate as allowed under the CARES Act enacted in March 2020. 8 During th e first quarter of fiscal 2021, the Company recorded $0.2 million in separation-related charges mainly related to certain cash severance payments, partially offset by adjustments to non-cash stock-based compensation expense related to our former Chief Executive Officer resulting from changes in expected performance conditions of certain previously granted stock awards that were no longer subject to service vesting requirements after his departure. The Company also recorded $2.5 million and $0.7 million in separation-related charges mainly related to headcount reduction in response to the COVID-19 pandemic during the second and third quarters of fiscal 2021, respectively.

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- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=124502072&loc=d3e1280-108306 + Details
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