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Segment Information | 9 Months Ended
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Nov. 02, 2024
Segment Reporting [Abstract] |
Segment Information | Segment Information The Company’s businesses are grouped into five reportable segments for management and internal financial reporting purposes: Europe, Americas Retail, Americas Wholesale, Asia and Licensing. The Company’s Europe, Americas Retail, Americas Wholesale 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. On April 2, 2024, the Company completed the rag & bone acquisition and has integrated rag & bone into its existing segments for financial reporting 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, separation charges, transaction costs, restructuring charges, gain on sale of assets and certain non-recurring credits (charges), if any. All intercompany revenues are eliminated in consolidation and are not reviewed when evaluating segment performance. 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. Net revenue and earnings (loss) from operations are summarized (in thousands):
| Three Months Ended |  | Nine Months Ended
| Nov 2, 2024 |  | Oct 28, 2023 |  | Nov 2, 2024 |  | Oct 28, 2023
Net revenue: |  |  |  |  |  |  |
Europe | $ | 368,429 |  |  | $ | 344,472 |  |  | $ | 1,035,532 |  |  | $ | 990,981 |
Americas Retail | 172,751 |  |  | 153,872 |  |  | 498,441 |  |  | 464,984 |
Americas Wholesale | 98,849 |  |  | 55,288 |  |  | 245,381 |  |  | 150,361 |
Asia | 65,478 |  |  | 64,498 |  |  | 192,566 |  |  | 194,210 |
Licensing | 33,011 |  |  | 33,040 |  |  | 91,101 |  |  | 84,944 |
Total net revenue | $ | 738,518 |  |  | $ | 651,170 |  |  | $ | 2,063,021 |  |  | $ | 1,885,480 |
Earnings (loss) from operations: |  |  |  |  |  |  |
Europe | $ | 32,476 |  |  | $ | 35,555 |  |  | $ | 69,431 |  |  | $ | 84,344 |
Americas Retail | (7,487) |  |  | 8,086 |  |  | (15,185) |  |  | 20,060 |
Americas Wholesale | 25,410 |  |  | 16,106 |  |  | 55,517 |  |  | 40,264 |
Asia | (1,281) |  |  | 636 |  |  | 1,236 |  |  | 3,927 |
Licensing | 30,296 |  |  | 30,770 |  |  | 84,110 |  |  | 79,419 |
Total segment earnings from operations | 79,414 |  |  | 91,153 |  |  | 195,109 |  |  | 228,014 |
Corporate overhead | (36,765) |  |  | (34,106) |  |  | (134,935) |  |  | (105,164) |
Asset impairment charges 1 | (1,091) |  |  | (1,737) |  |  | (4,509) |  |  | (6,293) |
Net gains (losses) on lease modifications 2 | 718 |  |  | (537) |  |  | 718 |  |  | 1,894 |
Gain on sale of assets 3 | — |  |  | — |  |  | 13,781 |  |  | — |
Total earnings from operations | $ | 42,276 |  |  | $ | 54,773 |  |  | $ | 70,164 |  |  | $ | 118,451 |
______________________________________________________________________ Notes: 1 During each of the three and nine months ended November 2, 2024 and October 28, 2023, the Company recognized 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 16 for more information regarding these asset impairment charges. 2 During each of the three and nine months ended November 2, 2024 and October 28, 2023, the Company recorded net gains (losses) on lease modifications related primarily to the early termination of certain lease agreements. 3 During the nine months ended November 2, 2024, the Company recorded a gain on the sale of assets related to the U.S. distribution center. The 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
| Nov 2, 2024 |  | Oct 28, 2023 |  | Nov 2, 2024 |  | Oct 28, 2023
Net revenue: |  |  |  |  |  |  |
U.S. | $ | 198,955 |  |  | $ | 133,613 |  |  | $ | 542,794 |  |  | $ | 412,746 |
Italy | 72,519 |  |  | 71,395 |  |  | 208,240 |  |  | 213,055 |
Germany | 52,326 |  |  | 47,179 |  |  | 137,615 |  |  | 127,503 |
South Korea | 39,097 |  |  | 41,642 |  |  | 118,788 |  |  | 124,132 |
Spain | 37,385 |  |  | 35,034 |  |  | 107,501 |  |  | 104,389 |
Canada | 33,244 |  |  | 38,968 |  |  | 95,134 |  |  | 109,178 |
Mexico | 31,977 |  |  | 31,426 |  |  | 92,226 |  |  | 78,978 |
Other countries | 240,004 |  |  | 218,873 |  |  | 669,622 |  |  | 630,555 |
Total product sales | 705,507 |  |  | 618,130 |  |  | 1,971,920 |  |  | 1,800,536 |
Net royalties | 33,011 |  |  | 33,040 |  |  | 91,101 |  |  | 84,944 |
Net revenue | $ | 738,518 |  |  | $ | 651,170 |  |  | $ | 2,063,021 |  |  | $ | 1,885,480 |
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.

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- Definition The entire disclosure for reporting segments including data and tables. 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