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Segment Information
 6 Months Ended
Aug. 02, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company’s businesses are grouped into five reportable segments: 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 integrated rag & bone into its existing segments for financial reporting purposes.
The Company’s Chief Executive Officer is the Chief Operating Decision Maker (“CODM”). The CODM evaluates segment performance based primarily on net 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, Proposed Transaction Costs (as defined below), 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. Corporate overhead, asset impairment charges, net gains from lease modifications, interest income, interest expense and other income (expense) are evaluated on a consolidated basis and not allocated to the Company’s business segments. The CODM does not evaluate performance or allocate resources based on segment asset data, and therefore total segment assets are not presented. The CODM does not review any information regarding total assets on a reportable segment basis.
Segment information is summarized as follows (in thousands):
Three Months Ended August 2, 2025
EuropeAmericas RetailAmericas WholesaleAsiaLicensingTotal
Product sales1
$436,911 $178,810 $75,194 $55,765 $— $746,680 
Net royalties— — — — 26,257 26,257 
Net revenue436,911 178,810 75,194 55,765 26,257 772,937 
Less2:
Cost of sales3
182,649 68,850 43,572 26,409 — 321,480 
Store occupancy expense51,266 40,306 2 12,146 — 103,720 
Advertising expense4
8,738 5,469 764 1,727 577 17,275 
Selling and merchandise expense40,808 9,560 4,485 4,173 — 59,026 
Store selling expense42,743 39,156 7 6,033 — 87,939 
General and administrative expense30,405 12,169 7,420 4,909 162 55,065 
Distribution expense19,424 1,403 2,931 1,417 — 25,175 
Other segment items5
14,497 8,545 1,283 2,754 462 27,541 
Total segment earnings (loss) from operations46,381 (6,648)14,730 (3,803)25,056 75,716 
Reconciliation of segment earnings from operations to earnings before income tax expense:
Asset impairment charges6
(2,266)
Interest expense(7,871)
Interest income2,995 
Other income, net2,091 
Unallocated corporate overhead expense4
(55,364)
Earnings before income tax expense$15,301 
Six Months Ended August 2, 2025
EuropeAmericas RetailAmericas WholesaleAsiaLicensingTotal
Product sales1
$742,983 $336,008 $176,625 $113,870 $— $1,369,486 
Net royalties— — — — 51,252 51,252 
Net revenue742,983 336,008 176,625 113,870 51,252 1,420,738 
Less2:
Cost of sales3
309,223 127,599 106,132 52,614 — 595,568 
Store occupancy expense97,445 79,935 9 24,175 — 201,564 
Advertising expense4
19,792 10,804 1,775 3,052 2,045 37,468 
Selling and merchandise expense74,604 19,117 9,401 9,451 — 112,573 
Store selling expense83,364 77,690 91 12,386 — 173,531 
General and administrative expense59,708 24,678 16,103 9,590 296 110,375 
Distribution expense33,696 2,772 5,854 2,712 — 45,034 
Other segment items5
27,659 16,569 2,379 5,486 836 52,929 
Total segment earnings (loss) from operations37,492 (23,156)34,881 (5,596)48,075 91,696 
Reconciliation of segment earnings from operations to loss before income tax expense:
Asset impairment charges6
(8,355)
Net gains on lease modifications236 
Interest expense(15,709)
Interest income5,022 
Other income, net3,455 
Unallocated corporate overhead expense4
(98,799)
Loss before income tax expense$(22,454)
Three Months Ended Aug 3, 2024
EuropeAmericas RetailAmericas WholesaleAsiaLicensingTotal
Product sales1
$383,230 $181,494 $84,404 $54,332 $— $703,460 
Net royalties— — — — 29,100 29,100 
Net revenue383,230 181,494 84,404 54,332 29,100 732,560 
Less2:
Cost of sales3
162,289 66,307 51,317 22,648 — 302,561 
Store occupancy expense44,100 37,694 21 11,293 — 93,108 
Advertising expense4
7,296 5,199 414 1,025 1,234 15,168 
Selling and merchandise expense36,537 9,726 3,729 5,938 — 55,930 
Store selling expense37,175 37,450 — 6,290 — 80,915 
General and administrative expense27,487 11,719 7,708 4,635 551 52,100 
Distribution expense17,936 1,728 3,208 1,452 — 24,324 
Other segment items5
13,016 8,978 2,027 2,275 179 26,475 
Total segment earnings (loss) from operations37,394 2,693 15,980 (1,224)27,136 81,979 
Reconciliation of segment earnings from operations to earnings before income tax expense:
Asset impairment charges6
(2,277)
Gain on sale of assets7
13,781 
Interest expense(7,707)
Interest income2,957 
Other expense, net(39,873)
Unallocated corporate overhead expense4
(45,707)
Earnings before income tax expense$3,153 
Six Months Ended Aug 3, 2024
EuropeAmericas RetailAmericas WholesaleAsiaLicensingTotal
Product sales1
$667,103 $325,690 $146,532 $127,088 $— $1,266,413 
Net royalties— — — — 58,090 58,090 
Net revenue667,103 325,690 146,532 127,088 58,090 1,324,503 
Less2:
Cost of sales3
278,170 120,239 87,261 52,930 — 538,600 
Store occupancy expense86,542 73,051 21 24,292 — 183,906 
Advertising expense4
15,030 7,979 1,000 2,728 3,361 30,098 
Selling and merchandise expense67,853 17,178 6,836 14,206 — 106,073 
Store selling expense73,485 71,281 — 13,676 — 158,442 
General and administrative expense51,687 23,330 13,067 8,868 551 97,503 
Distribution expense32,034 3,264 5,282 2,801 — 43,381 
Other segment items5
25,347 17,066 2,958 5,070 364 50,805 
Total segment earnings (loss) from operations36,955 (7,698)30,107 2,517 53,814 115,695 
Reconciliation of segment earnings from operations to earnings before income tax expense:
Asset impairment charges6
(3,418)
Gain on sale of assets7
13,781 
Interest expense(14,081)
Interest income6,605 
Loss on extinguishment of debt(1,952)
Other expense, net(4,106)
Unallocated corporate overhead expense4
(98,170)
Earnings before income tax expense$14,354 
______________________________________________________________________
Notes:
1All intercompany revenues are eliminated in consolidation and are not reviewed when evaluating segment performance.
2The 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.
3Cost of sales represents the cost of product sales excluding store occupancy expense, buying department expense and retail occupancy distribution expense.
4During the three and six months ended August 2, 2025, the Company incurred a total of $25.7 million and $51.0 million in advertising expenses, with $17.3 million and $37.5 million allocated within the Company’s segments and $8.4 million and $13.5 million included in unallocated corporate overhead expenses, respectively. During the three and six months ended August 3, 2024, the Company incurred a total of $23.0 million and $42.9 million in advertising expenses, with $15.2 million and $30.1 million allocated within the Company’s segments and $7.8 million and $12.8 million included in unallocated corporate overhead expense, respectively.
5Other segment items for each reportable segment include buying department expense, retail occupancy distribution expense, design expense, gain (loss) on equity method investment and stock compensation.
6During the three and six months ended August 2, 2025 and August 3, 2024, 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 - Fair Value Measurements for more information regarding these asset impairment charges.
7During the three and six months ended August 3, 2024, the Company recorded a gain on the sale of assets related to the U.S. distribution center.
Depreciation and amortization by segment are summarized as follows (in thousands):
Three Months EndedSix Months Ended
Aug 2, 2025Aug 3, 2024Aug 2, 2025Aug 3, 2024
Europe$9,700 $8,686 $18,678 $17,348 
Americas Retail5,010 4,694 10,335 8,514 
Americas Wholesale499 1,084 1,152 2,072 
Asia1,012 1,006 2,114 2,086 
Corporate overhead1,799 1,732 3,567 3,561 
Total depreciation and amortization$18,020 $17,202 $35,846 $33,581 
Capital expenditures by segment are summarized as follows (in thousands):
Three Months EndedSix Months Ended
Aug 2, 2025Aug 3, 2024Aug 2, 2025Aug 3, 2024
Europe$9,806 $7,650 $20,048 $14,132 
Americas Retail4,728 5,844 7,830 14,632 
Americas Wholesale2,878 2,932 9,044 6,671 
Asia1,907 986 2,448 2,243 
Corporate overhead2,161 2,966 4,017 3,800 
Total capital expenditures$21,480 $20,378 $43,387 $41,478 
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 EndedSix Months Ended
 Aug 2, 2025Aug 3, 2024Aug 2, 2025Aug 3, 2024
Net Product Sales:  
U.S.$183,869 $200,987 $377,052 $343,839 
Italy88,883 78,179 142,671 135,721 
Germany59,684 52,061 97,880 85,289 
Spain47,200 39,884 79,467 70,116 
South Korea30,843 30,823 66,561 79,691 
Canada31,790 32,587 57,837 61,890 
Other countries304,411 268,939 548,018 489,867 
Total product sales746,680 703,460 1,369,486 1,266,413 
Net royalties26,257 29,100 51,252 58,090 
Net revenue$772,937 $732,560 $1,420,738 $1,324,503 
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.