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Segment Information

9 Months Ended

Sep. 30, 2020

Segment Information

Segment Information

7.    Segment Information

The Company has two reportable segments: North American wholesale operations (“Wholesale”) and North American retail operations (“Retail”).  The Company’s Chief Executive Officer evaluates the performance of the Company’s segments based on earnings (loss)from operations. Therefore, interest income or expense, other income or expense, and income taxes are not allocated to the segments.  The “other” category in the tables below includes the Company’s wholesale and retail operations in Australia, South Africa, Asia Pacific and Europe, which do not meet the criteria for separate reportable segment classification.  Summarized segment data for the three and nine months ended September 30, 2020 and 2019, was as follows:

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​	​	​	​	​	​	​	​	​	​	​	​	​
Three Months Ended	​	​	​	​	​	​	​	​	​	​	​	​
September 30,		Wholesale			Retail			Other			Total
​	​	(Dollars in thousands)
2020		​			​			​			​	​
Product sales	​	$	43,788	​	$	4,367	​	$	4,799	​	$	52,954
Licensing revenues	​		224	​		—	​		—	​		224
Net sales	​	$	44,012	​	$	4,367	​	$	4,799	​	$	53,178
Earnings (loss) from operations	​	$	2,752	(1)	$	(2,796)	(2)	$	(3,796)	(3)	$	(3,840)
​	​			​			​			​
2019	​			​			​			​
Product sales	​	$	67,193	​	$	5,158	​	$	9,521	​	$	81,872
Licensing revenues	​		630	​		—	​		—	​		630
Net sales	​	$	67,823	​	$	5,158	​	$	9,521	​	$	82,502
Earnings (loss) from operations	​	$	9,485	​	$	365	​	$	(1,361)	​	$	8,489

(1) Includes the write-off of a $1.1 million receivable related to TB due to its bankruptcy filed during the pandemic, $0.5 million in employee costs related to restructuring and temporary closures, $0.5 million in reserves for obsolete and slow-moving inventory due to COVID-19-related impacts, and $0.2 million in other related charges, partially offset by $0.3 million of income from government wage subsidies.

(2) Includes $1.5 million in early lease termination charges, $1.0 million for the impairment of retail store fixed assets, and $0.1 million in employee costs related to restructuring and temporary closures.

(3) Includes $2.1 million for the impairment of retail store fixed assets and operating lease right-of-use assets, $1.1 million in employee costs related to restructuring and temporary closures, $0.5 million in reserves for obsolete and slow-moving inventory due to COVID-19-related impacts, and $0.2 million in related charges, partially offset by $1.1 million of income from government wage and rent subsidies.

​

​	​	​	​	​	​	​	​	​	​	​	​	​
Nine Months Ended	​	​	​	​	​	​	​	​	​	​	​	​
September 30,		Wholesale			Retail			Other			Total
​	​	(Dollars in thousands)
2020		​			​			​			​
Product sales	​	$	105,193	​	$	12,768	​	$	14,621	​	$	132,582
Licensing revenues	​		826	​		—	​		—	​		826
Net sales	​	$	106,019	​	$	12,768	​	$	14,621	​	$	133,408
Earnings (loss) from operations	​	$	(4,664)	(4)	$	(3,741)	(5)	$	(7,107)	(6)	$	(15,512)
​	​			​			​			​		​
2019	​			​			​			​
Product sales	​	$	171,383	​	$	16,124	​	$	27,626	​	$	215,133
Licensing revenues	​		1,973	​		—	​		—	​		1,973
Net sales	​	$	173,356	​	$	16,124	​	$	27,626	​	$	217,106
Earnings (loss) from operations	​	$	16,903	​	$	1,249	​	$	(2,653)	​	$	15,499

(4) Includes the write-off of $4.4 million in receivables due to two bankruptcies of large customers (JCP and TB) filed during the pandemic, $1.9 million in employee costs related to restructuring and temporary closures, $0.5 million in reserves for obsolete and slow-moving inventory due to COVID-19-related impacts, and $0.2 million in other related charges, partially offset by $1.6 million of income from government wage subsidies.

(5) Includes $1.5 million in early lease termination charges, $1.0 million for the impairment of retail store fixed assets, and $0.1 million in employee costs related to restructuring and temporary closures.

(6) Includes $2.1 million for the impairment of retai store fixed assets and operating lease right-of-use assets, $2.0 million in employee costs related to restructuring and temporary closures, $1.6 million in reserves for obsolete and slow-moving inventory due to COVID-19-related impacts, and $0.6 million in related charges, partially offset by $2.5 million of income from government wage and rent subsidies.

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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

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