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BUSINESS SEGMENT INFORMATION | 12 Months Ended
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Jan. 30, 2021
BUSINESS SEGMENT INFORMATION |
BUSINESS SEGMENT INFORMATION | 8. BUSINESS SEGMENT INFORMATION ​ The Company’s reportable segments are Famous Footwear and Brand Portfolio. The Famous Footwear segment is comprised of Famous Footwear, famousfootwear.com and famousfootwear.ca. Famous Footwear operated 916 stores at the end of 2020, primarily selling branded footwear for the entire family. The Brand Portfolio segment is comprised of wholesale operations selling the Company’s branded footwear, and the retail stores and e-commerce sites associated with those brands. This segment sources and markets licensed, branded and private-label footwear primarily to online retailers, national chains, department stores, mass merchandisers and independent retailers as well as Company-owned Famous Footwear, Allen Edmonds, Naturalizer and Sam Edelman stores and e-commerce businesses. The Brand Portfolio segment included 107 branded retail stores in the United States, 50 branded retail stores in Canada, and 13 branded retail stores in China at the end of 2020. The Company’s Famous Footwear and Brand Portfolio reportable segments are operating units that are managed separately. These reportable segments reflect the level at which the Company’s chief operating decision maker evaluates financial performance and allocates resources. Operating (loss) earnings for the reportable segments represents gross profit, less selling and administrative expenses, impairment of goodwill and intangible assets and restructuring and other special charges, net. The accounting policies of the reportable segments are the same as those described in Note 1 to the consolidated financial statements. Intersegment sales are generally recorded at a profit, and intersegment earnings related to inventory on hand at the purchasing segment are eliminated against the earnings. Corporate assets, administrative expenses and other costs and recoveries that are not allocated to the operating units, as well as the elimination of intersegment sales and profit, are reported in the Eliminations and Other category. Following is a summary of certain key financial measures for the respective periods: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Famous | ​ | Brand | ​ | Eliminations | ​ | ​ | ​
($ thousands) |  | Footwear |  | Portfolio |  | and Other |  | Total
Fiscal 2020 | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Net sales | ​ | $ | 1,263,551 | ​ | $ | 902,481 | ​ | $ | (48,962) | ​ | $ | 2,117,070
Intersegment sales | ​ |  | — | ​ |  | 48,962 | ​ |  | — | ​ |  | 48,962
Depreciation and amortization | ​ |  | 23,090 | ​ |  | 28,889 | ​ |  | 8,560 | ​ |  | 60,539
Operating loss | ​ |  | (23,821) | ​ |  | (408,444) | ​ |  | (53,393) | ​ |  | (485,658)
Segment assets | ​ |  | 765,754 | ​ |  | 851,027 | ​ |  | 250,269 | ​ |  | 1,867,050
Purchases of property and equipment | ​ |  | 7,693 | ​ |  | 6,486 | ​ |  | 2,607 | ​ |  | 16,786
Capitalized software | ​ |  | 870 | ​ |  | 153 | ​ |  | 4,251 | ​ |  | 5,274
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Fiscal 2019 | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Net sales | ​ | $ | 1,588,057 | ​ | $ | 1,406,460 | ​ | $ | (72,955) | ​ | $ | 2,921,562
Intersegment sales | ​ |  | — | ​ |  | 72,955 | ​ |  | — | ​ |  | 72,955
Depreciation and amortization | ​ |  | 26,706 | ​ |  | 29,875 | ​ |  | 8,981 | ​ |  | 65,562
Operating earnings (loss) | ​ |  | 76,896 | ​ |  | 58,153 | ​ |  | (31,236) | ​ |  | 103,813
Segment assets | ​ |  | 891,042 | ​ |  | 1,383,500 | ​ |  | 157,165 | ​ |  | 2,431,707
Purchases of property and equipment | ​ |  | 16,129 | ​ |  | 21,973 | ​ |  | 6,431 | ​ |  | 44,533
Capitalized software | ​ |  | 16 | ​ |  | 1,544 | ​ |  | 4,059 | ​ |  | 5,619
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Fiscal 2018 | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Net sales | ​ | $ | 1,606,808 | ​ | $ | 1,313,551 | ​ | $ | (85,513) | ​ | $ | 2,834,846
Intersegment sales | ​ |  | — | ​ |  | 85,513 | ​ |  | — | ​ |  | 85,513
Depreciation and amortization | ​ |  | 28,816 | ​ |  | 20,768 | ​ |  | 13,113 | ​ |  | 62,697
Operating earnings (loss) | ​ |  | 85,268 | ​ |  | (40,799) | ​ |  | (44,068) | ​ |  | 401
Segment assets | ​ |  | 502,507 | ​ |  | 1,211,008 | ​ |  | 125,053 | ​ |  | 1,838,568
Purchases of property and equipment | ​ |  | 17,552 | ​ |  | 41,993 | ​ |  | 2,938 | ​ |  | 62,483
Capitalized software | ​ |  | 351 | ​ |  | 814 | ​ |  | 3,251 | ​ |  | 4,416
​ Products purchased for the Famous Footwear segment from three key third-party suppliers (Nike, Skechers and adidas) represented approximately 25%, 22% and 24% of consolidated net sales for 2020, 2019 and 2018, respectively. ​ Following is a reconciliation of operating (loss) earnings to (loss) earnings before income taxes: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
($ thousands) | 2020 |  | 2019 |  | 2018
Operating (loss) earnings | $ | (485,658) | ​ | $ | 103,813 | ​ | $ | 401
Interest expense, net |  | (48,287) | ​ |  | (33,123) | ​ |  | (18,277)
Loss on early extinguishment of debt |  | — | ​ |  | — | ​ |  | (186)
Other income, net |  | 16,834 | ​ |  | 7,903 | ​ |  | 12,308
(Loss) earnings before income taxes | $ | (517,111) | ​ | $ | 78,593 | ​ | $ | (5,754)
​ For geographic purposes, the domestic operations include the Company’s domestic retail operations, the wholesale distribution of licensed, branded and private-label footwear to a variety of retail customers, including the Famous Footwear and Brand Portfolio stores, as well as the Company’s e-commerce businesses. The Company’s international operations consist of wholesale and retail operations primarily in Eastern Asia, Canada and Europe. The Eastern Asia operations primarily include first-cost transactions, where footwear is sold at international ports to customers who then import the footwear into the United States and other countries. A summary of the Company’s net sales and long-lived assets, including lease right-of-use assets and property and equipment, by geographic area were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
($ thousands) |  | 2020 |  | 2019 |  | 2018
Net Sales |  | ​ |  |  | ​ |  |  | ​ |
United States | ​ | $ | 1,984,713 | ​ | $ | 2,734,912 | ​ | $ | 2,656,928
Eastern Asia | ​ |  | 77,793 | ​ |  | 98,045 | ​ |  | 93,883
Canada | ​ |  | 46,781 | ​ |  | 80,247 | ​ |  | 63,354
Other | ​ |  | 7,783 | ​ |  | 8,358 | ​ |  | 20,681
Total net sales | ​ | $ | 2,117,070 | ​ | $ | 2,921,562 | ​ | $ | 2,834,846
​ | ​ |  |  | ​ |  |  | ​ |  |
Long-Lived Assets (1) | ​ |  |  | ​ |  |  | ​ |  |
United States | ​ | $ | 703,642 | ​ | $ | 881,338 | ​ | $ | 219,975
Canada | ​ |  | 20,246 | ​ |  | 35,317 | ​ |  | 9,381
Eastern Asia | ​ |  | 2,660 | ​ |  | 3,527 | ​ |  | 1,348
Other | ​ |  | 192 | ​ |  | 258 | ​ |  | 80
Total long-lived assets | ​ | $ | 726,740 | ​ | $ | 920,440 | ​ | $ | 230,784
(1) | Long-lived assets include $554,303 and $695,594 of lease right-of-use assets in 2020 and 2019, respectively, with no corresponding amounts in 2018, as it precedes the adoption of ASC 842.

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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