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Segment Information (Tables) | 12 Months Ended
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Feb. 01, 2025
Segment Reporting [Abstract] |
Schedule of Summarized Segment Information | Segment information is summarized as follows (in thousands):
| Year Ended Feb 1, 2025
| Europe |  | Americas Retail |  | Americas Wholesale |  | Asia |  | Licensing |  |  |  |  |  | Total
Product sales 1 | $ | 1,529,380 |  |  | $ | 753,052 |  |  | $ | 325,998 |  |  | $ | 262,465 |  |  | $ | — |  |  |  |  |  |  | $ | 2,870,895 |
Net royalties | — |  |  | — |  |  | — |  |  | — |  |  | 124,378 |  |  |  |  |  |  | 124,378 |
Net revenue | 1,529,380 |  |  | 753,052 |  |  | 325,998 |  |  | 262,465 |  |  | 124,378 |  |  |  |  |  |  | 2,995,273 |
Less 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales 3 | 636,053 |  |  | 286,913 |  |  | 201,488 |  |  | 113,475 |  |  | — |  |  |  |  |  |  | 1,237,929 |
Store occupancy expense | 179,267 |  |  | 153,206 |  |  | — |  |  | 52,109 |  |  | — |  |  |  |  |  |  | 384,582 |
Advertising expense 4 | 33,182 |  |  | 23,530 |  |  | 2,882 |  |  | 5,257 |  |  | 5,899 |  |  |  |  |  |  | 70,750 |
Selling and merchandise expense | 152,475 |  |  | 35,704 |  |  | 13,550 |  |  | 27,909 |  |  | — |  |  |  |  |  |  | 229,638 |
Store selling expense | 152,710 |  |  | 152,891 |  |  | — |  |  | 27,411 |  |  | — |  |  |  |  |  |  | 333,012 |
General and administrative expense | 106,746 |  |  | 50,565 |  |  | 26,600 |  |  | 18,563 |  |  | 520 |  |  |  |  |  |  | 202,994 |
Distribution expense | 71,861 |  |  | 7,283 |  |  | 11,264 |  |  | 5,590 |  |  | — |  |  |  |  |  |  | 95,998 |
Other segment items 5 | 51,521 |  |  | 35,525 |  |  | 4,415 |  |  | 10,007 |  |  | 2,303 |  |  |  |  |  |  | 103,771 |
Total segment earnings from operations | 145,565 |  |  | 7,435 |  |  | 65,799 |  |  | 2,144 |  |  | 115,656 |  |  |  |  |  |  | 336,599 |
Reconciliation of segment earnings: |  |  |  |  |  |  |  |  |  |  |  |
Separation charges 6 |  |  |  |  | (7,075) |
Asset impairment charges |  |  |  |  | (6,624) |
Net gains on lease modifications |  |  |  |  | 718 |
Gain on sale of assets |  |  |  |  | 13,781 |
Interest expense |  |  |  |  | (30,067) |
Interest income |  |  |  |  | 12,038 |
Loss on extinguishment of debt |  |  |  |  | (1,952) |
Other expense, net |  |  |  |  | (73,359) |
Unallocated corporate overhead expense 4 |  |  |  |  | (163,586) |
Earnings before income tax expense |  |  |  |  | $ | 80,473 |
| Year Ended Feb 3, 2024
| Europe |  | Americas Retail |  | Americas Wholesale |  | Asia |  | Licensing |  |  |  |  |  | Total
Product sales 1 | $ | 1,475,604 |  |  | $ | 710,908 |  |  | $ | 199,903 |  |  | $ | 276,867 |  |  | $ | — |  |  |  |  |  |  | $ | 2,663,282 |
Net royalties | — |  |  | — |  |  | — |  |  | — |  |  | 113,248 |  |  |  |  |  |  | 113,248 |
Net revenue | 1,475,604 |  |  | 710,908 |  |  | 199,903 |  |  | 276,867 |  |  | 113,248 |  |  |  |  |  |  | 2,776,530 |
Less 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales 3 | 625,032 |  |  | 273,096 |  |  | 115,602 |  |  | 118,656 |  |  | — |  |  |  |  |  |  | 1,132,386 |
Store occupancy expense | 169,841 |  |  | 127,693 |  |  | — |  |  | 53,857 |  |  | — |  |  |  |  |  |  | 351,391 |
Advertising expense 4 | 19,455 |  |  | 8,615 |  |  | 987 |  |  | 7,088 |  |  | 5,416 |  |  |  |  |  |  | 41,561 |
Selling and merchandise expense | 139,162 |  |  | 25,189 |  |  | 8,263 |  |  | 24,251 |  |  | — |  |  |  |  |  |  | 196,865 |
Store selling expense | 137,024 |  |  | 142,416 |  |  | — |  |  | 31,158 |  |  | — |  |  |  |  |  |  | 310,598 |
General and administrative expense | 97,473 |  |  | 38,605 |  |  | 13,615 |  |  | 18,816 |  |  | — |  |  |  |  |  |  | 168,509 |
Distribution expense | 65,801 |  |  | 7,625 |  |  | 5,402 |  |  | 4,964 |  |  | — |  |  |  |  |  |  | 83,792 |
Other segment items 5 | 50,090 |  |  | 30,840 |  |  | 1,631 |  |  | 10,180 |  |  | 2,183 |  |  |  |  |  |  | 94,924 |
Total segment earnings from operations | 171,726 |  |  | 56,829 |  |  | 54,403 |  |  | 7,897 |  |  | 105,649 |  |  |  |  |  |  | 396,504 |
Reconciliation of segment earnings: |  |  |  |  |  |  |  |  |  |  |  |
Asset impairment charges |  |  |  |  | (6,887) |
Net gains on lease modifications |  |  |  |  | 1,662 |
Interest expense |  |  |  |  | (21,816) |
Interest income |  |  |  |  | 12,100 |
Loss on extinguishment of debt |  |  |  |  | (12,351) |
Other expense, net |  |  |  |  | (5,075) |
Unallocated corporate overhead expense 4 |  |  |  |  | (128,002) |
Earnings before income tax expense |  |  |  |  | $ | 236,135 |
| Year Ended Jan 28, 2023
| Europe |  | Americas Retail |  | Americas Wholesale |  | Asia |  | Licensing |  |  |  | Total
Product sales 1 | $ | 1,380,790 |  |  | $ | 758,100 |  |  | $ | 206,208 |  |  | $ | 238,815 |  |  | $ | — |  |  |  |  | $ | 2,583,913 |
Net royalties | — |  |  | — |  |  | — |  |  | — |  |  | 103,437 |  |  |  |  | 103,437 |
Net revenue | 1,380,790 |  |  | 758,100 |  |  | 206,208 |  |  | 238,815 |  |  | 103,437 |  |  |  |  | 2,687,350 |
Less 2: |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales 3 | 608,527 |  |  | 289,875 |  |  | 134,238 |  |  | 102,880 |  |  | — |  |  |  |  | 1,135,520 |
Store occupancy expense | 156,633 |  |  | 124,732 |  |  | — |  |  | 54,846 |  |  | — |  |  |  |  | 336,211 |
Advertising expense 4 | 18,422 |  |  | 10,486 |  |  | 934 |  |  | 6,256 |  |  | 8,212 |  |  |  |  | 44,310 |
Selling and merchandise expense | 127,966 |  |  | 24,505 |  |  | 6,094 |  |  | 19,146 |  |  | — |  |  |  |  | 177,711 |
Store selling expense | 117,916 |  |  | 143,230 |  |  | — |  |  | 28,446 |  |  | — |  |  |  |  | 289,592 |
General and administrative expense | 79,979 |  |  | 39,751 |  |  | 9,270 |  |  | 17,857 |  |  | 692 |  |  |  |  | 147,549 |
Distribution expense | 65,329 |  |  | 8,494 |  |  | 7,646 |  |  | 4,742 |  |  | — |  |  |  |  | 86,211 |
Other segment items 5 | 46,389 |  |  | 29,843 |  |  | 1,760 |  |  | 9,453 |  |  | 2,416 |  |  |  |  | 89,861 |
Total segment earnings (loss) from operations | 159,629 |  |  | 87,184 |  |  | 46,266 |  |  | (4,811) |  |  | 92,117 |  |  |  |  | 380,385 |
Reconciliation of segment earnings (loss): |  |  |  |  |  |  |  |  |  |
Asset impairment charges | (9,544) |
Net gains on lease modifications | 2,267 |
Interest expense | (13,190) |
Interest income | 2,885 |
Other expense, net | (39,822) |
Unallocated corporate overhead expense 4 | (124,935) |
Earnings before income tax expense | $ | 198,046 |
______________________________________________________________________ 1 All intercompany revenues are eliminated in consolidation and are not reviewed when evaluating segment performance. 2 The significant expense categories and amounts align with the segment-level information that is regularly provided to the Company's CODM. All intercompany expenses are eliminated in consolidation and are not reviewed when evaluating segment performance. 3 Cost of sales represents the cost of product sales excluding store occupancy expense, buying department expense, and retail occupancy distribution expense. 4 In fiscal 2025, the Company incurred a total of $96.9 million in advertising expenses, with $70.8 million allocated within the Company's segments and $26.1 million included in unallocated corporate overhead expense. In fiscal 2024, the Company incurred a total of $49.9 million in advertising expenses, with $41.6 million allocated within the Company's segments and $8.3 million included in unallocated corporate overhead expense. In fiscal 2023, the Company incurred a total of $51.5 million in advertising expenses, with $44.3 million allocated within the Company's segments and $7.2 million included in unallocated corporate overhead expense. 5 Other segment items for each reportable segment include: buying department expense, retail occupancy distribution expense, design expense, loss on equity method investment and stock compensation. 6 Separation charges related to the transition of the operation of our U.S. distribution center, which was formerly owner-operated, to a third-party logistics provider. Depreciation and amortization by segment are summarized as follows (in thousands):
| Year Ended
| Feb 1, 2025 |  | Feb 3, 2024 |  | Jan 28, 2023
Europe | $ | 34,511 |  |  | $ | 34,670 |  |  | $ | 32,023 |
Americas Retail | 18,677 |  |  | 14,964 |  |  | 17,267 |
Americas Wholesale | 3,705 |  |  | 1,004 |  |  | 1,211 |
Asia | 4,383 |  |  | 4,365 |  |  | 4,529 |
Corporate overhead | 6,918 |  |  | 6,346 |  |  | 6,437 |
Total depreciation and amortization | $ | 68,194 |  |  | $ | 61,349 |  |  | $ | 61,467 |
Capital expenditures by segment is summarized as follows (in thousands):
| Year Ended
| Feb 1, 2025 |  | Feb 3, 2024 |  | Jan 28, 2023
Europe | $ | 43,584 |  |  | $ | 38,153 |  |  | $ | 51,265 |
Americas Retail | 23,600 |  |  | 20,429 |  |  | 23,149 |
Americas Wholesale | 9,740 |  |  | 600 |  |  | 4,039 |
Asia | 4,760 |  |  | 4,616 |  |  | 3,932 |
Corporate overhead | 4,405 |  |  | 10,409 |  |  | 7,118 |
Total capital expenditures | $ | 86,089 |  |  | $ | 74,207 |  |  | $ | 89,503 |
Schedule of Net Revenue and Long-Lived Assets by Country | 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):
| Year Ended
| Feb 1, 2025 |  | Feb 3, 2024 |  | Jan 28, 2023
Net Product Sales: |  |  |  |  |
U.S. | $ | 793,461 |  |  | $ | 617,009 |  |  | $ | 673,868 |
Italy | 311,507 |  |  | 312,908 |  |  | 289,170 |
Germany | 209,059 |  |  | 198,664 |  |  | 187,888 |
Spain | 165,247 |  |  | 161,377 |  |  | 150,045 |
South Korea | 153,406 |  |  | 171,819 |  |  | 140,449 |
Canada | 137,072 |  |  | 158,521 |  |  | 175,485 |
Other foreign countries | 1,101,143 |  |  | 1,042,984 |  |  | 967,008 |
Total product sales | 2,870,895 |  |  | 2,663,282 |  |  | 2,583,913 |
Net royalties | 124,378 |  |  | 113,248 |  |  | 103,437 |
Net revenue | $ | 2,995,273 |  |  | $ | 2,776,530 |  |  | $ | 2,687,350 |
The Company’s long-lived assets by geographic location are as follows (in thousands):
| Feb 1, 2025 |  | Feb 3, 2024
U.S. | $ | 368,533 |  |  | $ | 259,055 |
Italy | 137,153 |  |  | 138,572 |
Germany | 72,876 |  |  | 46,562 |
Spain | 92,852 |  |  | 104,552 |
South Korea | 11,093 |  |  | 14,998 |
Canada | 29,730 |  |  | 28,606 |
Other foreign countries | 433,761 |  |  | 380,452 |
Total long-lived assets | $ | 1,145,998 |  |  | $ | 972,797 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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