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Operating Segments | 6 Months Ended
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Aug. 02, 2025
Segment Reporting [Abstract] |
Operating Segments | Operating Segments: We identify our operating segments based on the way the chief operating decision maker ("CODM") organizes the components of our business for purposes of allocating resources and assessing performance. Our operating segment structure reflects a brand-focused management approach, emphasizing operational coordination and resource allocation across each brand’s direct to consumer, wholesale and licensing operations, as applicable. The Tommy Bahama, Lilly Pulitzer and Johnny Was operating segments are each identified as a reportable segment. The operations of our smaller, earlier stage operating segments Southern Tide, TBBC, Duck Head and Jack Rogers are aggregated into the Emerging Brands reportable segment. Corporate and Other is a reconciling category for reporting purposes and includes the elimination of inter-segment sales, which totaled less than $1 million in both the First Half of Fiscal 2025 and the First Half of Fiscal 2024. Corporate and Other also includes our corporate offices, substantially all financing activities, any other items that are not allocated to the operating segments, including LIFO inventory accounting adjustments as our LIFO pool does not correspond to our operating segment definitions, and unallocated Corporate expenses. The table below presents certain financial information (in thousands) about our reportable segments, as well as Corporate and Other.
| Second Quarter |  | First Half
| Fiscal 2025 |  | Fiscal 2024 |  | Fiscal 2025 |  | Fiscal 2024
Tommy Bahama |  |  |  |  |  |  |
Net sales | $ | 229,003 |  |  | $ | 245,079 |  |  | $ | 445,178 |  |  | $ | 470,696 |
Costs of goods sold | 90,052 |  |  | 94,385 |  |  | 166,502 |  |  | 171,694 |
Gross profit | $ | 138,951 |  |  | $ | 150,694 |  |  | $ | 278,676 |  |  | $ | 299,002 |
Operating costs: |  |  |  |  |  |  |
Variable and distribution costs | 13,652 |  |  | 14,626 |  |  | 26,952 |  |  | 28,517 |
Advertising costs | 10,199 |  |  | 11,330 |  |  | 20,346 |  |  | 19,469 |
Employment costs | 47,278 |  |  | 46,217 |  |  | 94,565 |  |  | 93,707 |
Occupancy costs | 23,508 |  |  | 22,289 |  |  | 46,286 |  |  | 43,924 |
Depreciation and amortization | 7,644 |  |  | 7,004 |  |  | 15,221 |  |  | 14,197 |
Other segment items (1) | 9,998 |  |  | 8,293 |  |  | 17,887 |  |  | 15,614 |
Tommy Bahama operating income | $ | 26,672 |  |  | $ | 40,935 |  |  | $ | 57,419 |  |  | $ | 83,574 |
Lilly Pulitzer |  |  |  |  |  |  |
Net sales | $ | 90,268 |  |  | $ | 91,689 |  |  | $ | 189,310 |  |  | $ | 180,110 |
Costs of goods sold | 31,275 |  |  | 29,550 |  |  | 65,388 |  |  | 58,692 |
Gross profit | $ | 58,993 |  |  | $ | 62,139 |  |  | $ | 123,922 |  |  | $ | 121,418 |
Operating costs: |  |  |  |  |  |  |
Variable and distribution costs | 5,606 |  |  | 5,313 |  |  | 11,654 |  |  | 10,198 |
Advertising costs | 8,377 |  |  | 10,078 |  |  | 16,902 |  |  | 19,357 |
Employment costs | 13,957 |  |  | 13,349 |  |  | 27,616 |  |  | 27,188 |
Occupancy costs | 5,932 |  |  | 5,221 |  |  | 11,375 |  |  | 10,332 |
Depreciation and amortization | 4,576 |  |  | 4,724 |  |  | 9,491 |  |  | 9,318 |
Other segment items (1) | 7,333 |  |  | 6,527 |  |  | 15,535 |  |  | 12,554 |
Lilly Pulitzer operating income | $ | 13,212 |  |  | $ | 16,927 |  |  | $ | 31,349 |  |  | $ | 32,471 |
Johnny Was |  |  |  |  |  |  |
Net sales | $ | 45,415 |  |  | $ | 50,280 |  |  | $ | 88,888 |  |  | $ | 101,492 |
Costs of goods sold | 17,275 |  |  | 16,851 |  |  | 32,630 |  |  | 34,814 |
Gross profit | $ | 28,140 |  |  | $ | 33,429 |  |  | $ | 56,258 |  |  | $ | 66,678 |
Operating costs: |  |  |  |  |  |  |
Variable and distribution costs | 2,364 |  |  | 3,533 |  |  | 4,515 |  |  | 6,566 |
Advertising costs | 6,499 |  |  | 7,381 |  |  | 12,033 |  |  | 13,735 |
Employment costs | 10,023 |  |  | 9,850 |  |  | 20,284 |  |  | 19,404 |
Occupancy costs | 5,127 |  |  | 5,549 |  |  | 10,516 |  |  | 10,894 |
Depreciation and amortization | 3,188 |  |  | 4,037 |  |  | 6,569 |  |  | 8,043 |
Other segment items (1) | 5,407 |  |  | 4,735 |  |  | 10,219 |  |  | 9,359 |
Johnny Was operating loss | $ | (4,468) |  |  | $ | (1,656) |  |  | $ | (7,878) |  |  | $ | (1,323) |
Emerging Brands |  |  |  |  |  |  |
Net sales | $ | 38,530 |  |  | $ | 32,929 |  |  | $ | 72,778 |  |  | $ | 65,931 |
Costs of goods sold | 15,744 |  |  | 13,199 |  |  | 29,678 |  |  | 26,673 |
Gross profit | $ | 22,786 |  |  | $ | 19,730 |  |  | $ | 43,100 |  |  | $ | 39,258 |
Operating costs: |  |  |  |  |  |  |
Variable and distribution costs | 2,925 |  |  | 2,535 |  |  | 5,372 |  |  | 4,893 |
Advertising costs | 3,331 |  |  | 2,948 |  |  | 6,479 |  |  | 5,674 |
Employment costs | 7,042 |  |  | 6,241 |  |  | 13,619 |  |  | 11,933 |
Occupancy costs | 2,087 |  |  | 1,478 |  |  | 3,955 |  |  | 2,740 |
Depreciation and amortization | 1,036 |  |  | 663 |  |  | 1,981 |  |  | 1,277 |
Other segment items (1) | 3,391 |  |  | 3,052 |  |  | 6,814 |  |  | 6,130 |
Emerging Brands operating income | $ | 2,974 |  |  | $ | 2,813 |  |  | $ | 4,880 |  |  | $ | 6,611 |
Corporate |  |  |  |  |  |  |
Net sales | $ | (73) |  |  | $ | (91) |  |  | $ | (150) |  |  | $ | (159) |
Cost of goods sold (2) | 1,172 |  |  | 890 |  |  | 1,895 |  |  | 2,825 |
Gross profit | $ | (1,245) |  |  | $ | (981) |  |  | $ | (2,045) |  |  | $ | (2,984) |
Depreciation and amortization | 141 |  |  | 122 |  |  | 287 |  |  | 256 |
Unallocated Corporate costs and income (3) | 11,593 |  |  | 5,406 |  |  | 21,821 |  |  | 13,132 |
Corporate operating loss | $ | (12,979) |  |  | $ | (6,509) |  |  | $ | (24,153) |  |  | $ | (16,372) |
Consolidated Operating income | $ | 25,411 |  |  | $ | 52,510 |  |  | $ | 61,617 |  |  | $ | 104,961 |
Interest expense, net | 1,548 |  |  | 89 |  |  | 3,274 |  |  | 963 |
Earnings before income taxes | $ | 23,863 |  |  | $ | 52,421 |  |  | $ | 58,343 |  |  | $ | 103,998 |
(1)For all reporting units, other segment items primarily consists of software costs, professional services costs, other selling, general, and administrative costs and royalties and other income. (2)Cost of goods sold for Corporate and Other included a LIFO accounting charge of $1 million in the Second Quarter of Fiscal 2025 and the Second Quarter of Fiscal 2024 and a charge of $1 million in the First Half of Fiscal 2025 and $3 million in the First Half of Fiscal 2024. (3)Unallocated Corporate costs for Corporate and Other primarily consists of unallocated employment and other overhead expenses. The tables below present certain financial information (in thousands) about our reportable segments, as well as Corporate and Other.
| First Half
| Fiscal 2025 |  | Fiscal 2024
Purchases of Property and Equipment |  |  |
Tommy Bahama | $ | 18,350 |  |  | $ | 17,283 |
Lilly Pulitzer | 4,456 |  |  | 4,045 |
Johnny Was | 712 |  |  | 2,219 |
Emerging Brands | 2,881 |  |  | 4,868 |
Corporate and Other | 28,205 |  |  | 25,113 |
Purchases of Property and Equipment | $ | 54,604 |  |  | $ | 53,528 |
| August 2, 2025 |  | February 1, 2025 |  | August 3, 2024
Assets |  |  |  |  |
Tommy Bahama (1) | $ | 676,133 |  | $ | 681,730 |  | $ | 586,068
Lilly Pulitzer (2) | 205,203 |  | 205,398 |  | 198,507
Johnny Was (3) | 222,600 |  | 235,558 |  | 244,361
Emerging Brands (4) | 131,469 |  | 121,574 |  | 111,946
Corporate and Other (5) | 88,991 |  |  | 45,545 |  |  | 31,640 |
Consolidated Total Assets | $ | 1,324,396 |  | $ | 1,289,805 |  | $ | 1,172,522
(1)Increase in Tommy Bahama total assets from August 3, 2024, relates primarily to an increase in operating lease assets, inventories and property and equipment. (2)Increase in Lilly Pulitzer total assets from August 3, 2024, includes increases in software related assets, intangible assets related to the acquisition of intellectual property rights in the Fourth Quarter of Fiscal 2024 and inventories. (3)Decrease in Johnny Was total assets from August 3, 2024, relates primarily to the amortization of acquired intangible assets and a decrease in operating lease assets. (4)Increase in Emerging Brands total assets from August 3, 2024, relates primarily to an increase in inventories and property and equipment. (5)Increase in Corporate and Other total assets from August 3, 2024, relates primarily to an increase in property and equipment primarily related to the new distribution center project in Lyons, Georgia. Net sales by geographic area are presented in the table below (in thousands). The other foreign amounts primarily relate to our Tommy Bahama operations in Canada and Australia.
| Second Quarter |  | First Half
| Fiscal 2025 |  | Fiscal 2024 |  | Fiscal 2025 |  | Fiscal 2024
Net Sales |  |  |  |  |  |  |
United States | $ | 394,183 |  |  | $ | 410,193 |  |  | $ | 779,342 |  |  | $ | 799,459 |
Other foreign | 8,960 |  |  | 9,693 |  |  | 16,662 |  |  | 18,611 |
| $ | 403,143 |  |  | $ | 419,886 |  |  | $ | 796,004 |  |  | $ | 818,070 |
The tables below quantify net sales, for each reportable segment, as well as Corporate and Other, and in total (in thousands), and the percentage of net sales by distribution channel for each reportable segment, as well as Corporate and Other, and in total, for each period presented. We have calculated all percentages below based on actual data, and percentages may not add to 100 due to rounding.
| Second Quarter Fiscal 2025
| Net Sales |  | Retail |  | E-commerce |  | Food & Beverage |  | Wholesale |  | Other
Tommy Bahama | $ | 229,003 |  | 45% |  | 29% |  | 13% |  | 13% |  | —%
Lilly Pulitzer | 90,268 |  | 37% |  | 48% |  | —% |  | 15% |  | —%
Johnny Was | 45,415 |  | 38% |  | 46% |  | —% |  | 16% |  | —%
Emerging Brands | 38,530 |  | 23% |  | 49% |  | —% |  | 28% |  | —%
Corporate and Other | (73) |  |  | —% |  | —% |  | —% |  | —% |  | NM %
Total | $ | 403,143 |  | 41% |  | 37% |  | 7% |  | 15% |  | —%
| Second Quarter Fiscal 2024
| Net Sales |  | Retail |  | E-commerce |  | Food & Beverage |  | Wholesale |  | Other
Tommy Bahama | $ | 245,079 |  | 45% |  | 29% |  | 12% |  | 14% |  | —%
Lilly Pulitzer | 91,689 |  | 39% |  | 44% |  | —% |  | 17% |  | —%
Johnny Was | 50,280 |  | 40% |  | 45% |  | —% |  | 15% |  | —%
Emerging Brands | 32,929 |  | 20% |  | 53% |  | —% |  | 27% |  | —%
Corporate and Other | (91) |  |  | —% |  | —% |  | —% |  | —% |  | NM %
Total | $ | 419,886 |  | 41% |  | 36% |  | 7% |  | 16% |  | —%
| First Half Fiscal 2025
| Net Sales |  | Retail |  | E-commerce |  | Food & Beverage |  | Wholesale |  | Other
Tommy Bahama | $ | 445,178 |  | 45% |  | 24% |  | 14% |  | 17% |  | —%
Lilly Pulitzer | 189,310 |  | 36% |  | 45% |  | —% |  | 19% |  | —%
Johnny Was | 88,888 |  | 38% |  | 42% |  | —% |  | 20% |  | —%
Emerging Brands | 72,778 |  | 21% |  | 44% |  | —% |  | 35% |  | —%
Corporate and Other | (150) |  |  | —% |  | —% |  | —% |  | —% |  | NM %
Total | $ | 796,004 |  | 40% |  | 33% |  | 8% |  | 19% |  | —%
| First Half Fiscal 2024
| Net Sales |  | Retail |  | E-commerce |  | Food & Beverage |  | Wholesale |  | Other
Tommy Bahama | $ | 470,696 |  | 45% |  | 25% |  | 14% |  | 16% |  | —%
Lilly Pulitzer | 180,110 |  | 37% |  | 45% |  | —% |  | 18% |  | —%
Johnny Was | 101,492 |  | 39% |  | 42% |  | —% |  | 19% |  | —%
Emerging Brands | 65,931 |  | 17% |  | 45% |  | —% |  | 38% |  | —%
Corporate and Other | (159) |  |  | —% |  | —% |  | —% |  | —% |  | NM %
Total | $ | 818,070 |  | 40% |  | 33% |  | 8% |  | 19% |  | —%

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- 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://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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