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Background and Basis of Presentation | 12 Months Ended
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Feb. 01, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Background and Basis of Presentation | BACKGROUND AND BASIS OF PRESENTATION Description of Business Lands' End, Inc. ("Lands' End" or the "Company") is a leading multi-channel retailer of casual clothing, accessories and footwear, as well as home products. Lands' End offers products through catalogs, online at www.landsend.com and affiliated specialty and international websites, and through retail locations, primarily at Lands' End Shops at Sears and Lands' End stores. Terms that are commonly used in the Company's notes to consolidated financial statements are defined as follows: •ABL Facility - Asset-based senior secured credit agreements, dated as of November 16, 2017, with Wells Fargo Bank, N.A. and certain other lenders •ASC - Financial Accounting Standards Board Accounting Standards Codification, which serves as the source for authoritative GAAP, as supplemented by rules and interpretive releases by the SEC which are also sources of authoritative GAAP for SEC registrants •ASU - Financial Accounting Standards Board Accounting Standards Update •CAM - Common area maintenance for leased properties •Debt Facilities - Collectively, the ABL Facility and the Term Loan Facility •Deferred Awards - Time vesting stock awards •EPS - Earnings per share •ERP - Enterprise resource planning software solutions •ESL - ESL Investments, Inc. and its investment affiliates, including Edward S. Lampert •FASB - Financial Accounting Standards Board •First Quarter 2018 - The 13 weeks ended May 4, 2018 •First Quarter 2019 - The 13 weeks ended May 3, 2019 •Fiscal 2019 - The Company's next fiscal year representing the 52 weeks ending January 31, 2020 •Fiscal 2018 - The 52 weeks ended February 1, 2019 •Fiscal 2017 - The 53 weeks ended February 2, 2018 •Fiscal 2016 - The 52 weeks ended January 27, 2017 •Fourth Quarter 2018 - The 13 weeks ended February 1, 2019 •Fourth Quarter 2017 - The 14 weeks ended February 2, 2018 •GAAP - Accounting principles generally accepted in the United States •Kmart Holding Corporation - a subsidiary of Sears Holdings Corporation •LIBOR - London inter-bank offered rate •Performance Awards - Performance-based stock awards •Option Awards - Stock option awards •Sears Holdings or Sears Holdings Corporation - Sears Holdings Corporation, a Delaware corporation, and its consolidated subsidiaries •Sears Roebuck - Sears, Roebuck and Co., a subsidiary of Sears Holdings Corporation •SEC - United States Securities and Exchange Commission •Separation - On April 4, 2014 Sears Holdings distributed 100% of the outstanding common stock of Lands' End to its shareholders •SHMC - Sears Holdings Management Corporation, a subsidiary of Sears Holdings Corporation •SHCP - SHC Promotions LLC, a subsidiary of Sears Holdings Corporation •Tax Act - The Tax Cuts and Jobs Act passed by the United States government on December 22, 2017 •Tax Sharing Agreement - A tax sharing agreement entered into by Sears Holdings Corporation and Lands' End in connection with the Separation •Term Loan Facility - Term loan credit agreements, dated as of April 4, 2014, with Bank of America, N.A. and certain other lenders •Transform Holdco - Transform Holdco LLC, an affiliate of ESL, which on February 11, 2019 acquired from Sears Holdings substantially all of the go-forward retail footprint and other assets and component businesses of Sears Holdings as a going concern •UTBs - Gross unrecognized tax benefits Basis of Presentation The Consolidated Financial Statements include the accounts of Lands' End, Inc. and its subsidiaries. All intercompany transactions and balances have been eliminated. The accompanying Consolidated Financial Statements have been prepared in accordance with GAAP. In the opinion of management, all material adjustments are of a normal and recurring nature necessary for a fair presentation of the results for the periods presented have been reflected. Dollar amounts are reported in thousands, except per share data, unless otherwise noted.

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- Definition The entire disclosure for the general note to the financial statements for the reporting entity which may include, descriptions of the basis of presentation, business description, significant accounting policies, consolidations, reclassifications, new pronouncements not yet adopted and changes in accounting principles. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -URI http://asc.fasb.org/topic&trid=2197479 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI http://asc.fasb.org/topic&trid=2134479 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -URI http://asc.fasb.org/topic&trid=2122394 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -URI http://asc.fasb.org/topic&trid=2122369 + Details
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