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Revenue | 3 Months Ended
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May 03, 2025
Revenue from Contract with Customer [Abstract] |
REVENUE | REVENUE DISAGGREGATION OF NET SALES Beginning with the 2024 Form 10-K, we changed the presentation of disaggregation of net sales for all periods presented to include net sales by product and service categories with an athletic footwear category and excluded the previously presented disaggregation of net sales by brand categories. This change aligns with how management of the Company evaluates the net sales performance of our segments. The following table presents net sales disaggregated by product and service categories for each segment:
|  |  | Three months ended
(in thousands) |  |  |  |  | May 3, 2025 |  | May 4, 2024
Net sales: |  |  |  |  |  |  |
U.S. Retail segment: |  |  |  |  |  |  |
Non-athletic footwear: |  |  |  |  |  |  |
Women's |  |  |  |  | $ | 275,526 |  |  | $ | 306,354 |
Men's |  |  |  |  | 70,935 |  |  | 75,798 |
Kids' |  |  |  |  | 21,471 |  |  | 21,686 |
Athletic footwear |  |  |  |  | 175,165 |  |  | 184,525 |
Accessories and other |  |  |  |  | 30,143 |  |  | 33,004 |
|  |  |  |  | 573,240 |  |  | 621,367 |
Canada Retail segment: |  |  |  |  |  |  |
Non-athletic footwear: |  |  |  |  |  |  |
Women's |  |  |  |  | 19,207 |  |  | 20,823 |
Men's |  |  |  |  | 7,509 |  |  | 7,418 |
Kids' |  |  |  |  | 2,963 |  |  | 2,821 |
Athletic footwear |  |  |  |  | 22,064 |  |  | 22,476 |
Accessories and other |  |  |  |  | 2,162 |  |  | 1,974 |
|  |  |  |  | 53,905 |  |  | 55,512 |
Brand Portfolio segment: |  |  |  |  |  |  |
Wholesale |  |  |  |  | 84,498 |  |  | 88,670 |
Direct-to consumer |  |  |  |  | 10,355 |  |  | 13,930 |
Other |  |  |  |  | 1,045 |  |  | 1,530 |
|  |  |  |  | 95,898 |  |  | 104,130 |
Total segment net sales |  |  |  |  | 723,043 |  |  | 781,009 |
Elimination of intersegment sales |  |  |  |  | (36,134) |  |  | (34,413) |
Total net sales |  |  |  |  | $ | 686,909 |  |  | $ | 746,596 |
DEFERRED REVENUE LIABILITIES We record deferred revenue liabilities, included in accrued expenses on the condensed consolidated balance sheets, for remaining obligations we have to our customers. The following table presents the changes and total balances for gift cards and reward programs:
|  |  | Three months ended
(in thousands) |  |  |  |  | May 3, 2025 |  | May 4, 2024
Gift cards: |  |  |  |  |  |  |
Beginning of period |  |  |  |  | $ | 28,963 |  |  | $ | 31,662 |
Gift cards redeemed and breakage recognized to net sales |  |  |  |  | (14,562) |  |  | (17,265) |
Gift cards issued |  |  |  |  | 11,428 |  |  | 13,414 |
End of period |  |  |  |  | $ | 25,829 |  |  | $ | 27,811 |
Reward programs: |  |  |  |  |  |  |
Beginning of period |  |  |  |  | $ | 14,126 |  |  | $ | 15,971 |
Reward certificates redeemed and expired and other adjustments recognized to net sales |  |  |  |  | (6,710) |  |  | (8,190) |
Deferred revenue for reward points issued |  |  |  |  | 6,478 |  |  | 7,167 |
End of period |  |  |  |  | $ | 13,894 |  |  | $ | 14,948 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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