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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Feb. 02, 2024

Accounting Policies [Abstract]

Schedule of Allowance for Credit Losses

Changes in the balance of the allowance for credit losses are as follows:

(in thousands)		Fiscal 2023				Fiscal 2022
Beginning balance		$	728			$	625
Provision			89				295
Write-offs			(167	)			(192	)
Ending balance		$	650			$	728

Summary of Property and Equipment, Net

As of the balance sheet dates, Property and equipment, net consisted of the following:

(in thousands)		Asset Lives (years)		February 2, 2024				January 27, 2023
Land		—		$	3,450			$	3,440
Buildings and improvements		15-30			101,232				99,545
Furniture, fixtures and equipment		3-10			66,373				59,992
Computer hardware and software		3-10			261,764				232,799
Leasehold improvements		3-7			12,673				12,761
Construction in progress					17,706				27,235
Gross property and equipment					463,198				435,772
Less: Accumulated depreciation					(345,165	)			(308,134	)
Total property and equipment, net				$	118,033			$	127,638

Deferred Revenue Disclosure

The following table summarizes the deferred revenue associated with payments received in advance of the transfer of control to the customer reported in Accrued expenses and other current liabilities in the Consolidated Balance Sheets and amounts recognized through Net revenue for each period presented. The majority of deferred revenue as of February 2, 2024 is expected to be recognized in Net revenue in First Quarter 2024, as products are delivered to customers.

(in thousands)		Fiscal 2023				Fiscal 2022
Deferred revenue beginning of period		$	7,484			$	8,560
Deferred revenue recognized in period			(7,270	)			(8,346	)
Revenue deferred in period			4,100				7,270
Deferred revenue end of period		$	4,314			$	7,484

Gift Card Reconciliation

The following table provides the reconciliation of the contract liability related to gift cards:

(in thousands)		Fiscal 2023				Fiscal 2022
Balance as of beginning of period		$	33,029			$	33,070
Gift cards sold			66,392				65,877
Gift cards redeemed			(60,374	)			(64,637	)
Gift card breakage			(3,443	)			(1,281	)
Balance as of end of period		$	35,604			$	33,029

Schedule of Other Comprehensive Income (Loss)

Other comprehensive income (loss) encompasses all changes in equity other than those arising from transactions with stockholders and is comprised solely of foreign currency translation adjustments. Our foreign subsidiaries use their foreign currency as their functional currency. Functional currency assets and liabilities are translated into U.S. Dollars using exchange rates in effect at the balance sheet date, and revenues and expenses are translated at average exchange rates during the period. Resulting translation gains and losses are reported in other comprehensive income (loss), until the substantial liquidation of a subsidiary, at which time accumulated transactions gains or losses are reclassified into net income. During Fiscal 2023, the Company recognized a net gain of $0.4 million of cumulative foreign currency translation adjustments related to the substantial liquidation of Lands’ End Japan. See Note 8, Lands’ End Japan Closure.

		Fiscal 2023				Fiscal 2022				Fiscal 2021
Beginning balance: Accumulated other comprehensive loss (net of tax of $4,525, $3,361, and $2,987, respectively)		$	(17,022	)		$	(12,642	)		$	(11,221	)
Other comprehensive (loss) income
Foreign currency translation adjustments (net of tax of $(348), $1,164, and $374, respectively)			1,307				(4,380	)			(1,421	)
Reclassification of foreign currency translation gain to income (net of tax of $94, $0, and $0, respectively)			(354	)			—				—
Ending balance: Accumulated other comprehensive loss (net of tax of $4,271, $4,525, and $3,361, respectively)		$	(16,069	)		$	(17,022	)		$	(12,642	)

Schedule of Components of Basic and Diluted EPS

The following table summarizes the components of basic and diluted EPS:

(in thousands)		Fiscal 2023				Fiscal 2022				Fiscal 2021
Net (loss) income		$	(130,684	)		$	(12,530	)		$	33,369
Basic weighted average shares outstanding			31,970				33,108				32,929
Dilutive impact of stock awards			—				—				752
Diluted weighted average shares outstanding		$	31,970			$	33,108			$	33,681
(Loss) earnings per share
Basic		$	(4.09	)		$	(0.38	)		$	1.01
Diluted		$	(4.09	)		$	(0.38	)		$	0.99
Anti-dilutive shares excluded from diluted earnings (loss) per common share calculation			1,021				1,186				93

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