XML 70 R21.htm IDEA: XBRL DOCUMENT
v2.4.0.6

SEGMENT INFORMATION | 12 Months Ended
--- | ---
Feb. 02, 2013
Segment Reporting [Abstract] |
SEGMENT INFORMATION | SEGMENT INFORMATION In accordance with the “Segment Reporting” topic of the FASB ASC, the Company reports segment data based on geography: The Children’s Place U.S. and The Children’s Place Canada. Each segment includes an e-commerce business located at www.childrensplace.com. Included in The Children’s Place U.S. segment are the Company’s U.S. and Puerto Rico based stores. Included in The Children's Place Canada segment are the Company's Canadian based stores and revenue from international franchisees. The Company measures its segment profitability based on operating income, defined as income before interest and taxes. Net sales and direct costs are recorded by each segment. Certain inventory procurement functions such as production and design as well as corporate overhead, including executive management, finance, real estate, human resources, legal, and information technology services are managed by The Children’s Place U.S. segment. Expenses related to these functions, including depreciation and amortization, are allocated to The Children’s Place Canada segment based primarily on net sales. The assets related to these functions are not allocated. The Company periodically reviews these allocations and adjusts them based upon changes in business circumstances. Net sales from external customers are derived from merchandise sales and the Company has no major customers that account for more than 10% of its net sales. As of February 2, 2013, The Children’s Place U.S. operated 966 stores and The Children’s Place Canada operated 129 stores. As of January 28, 2012, The Children’s Place U.S. operated 926 stores and The Children’s Place Canada operated 123 stores. The following tables provide segment level financial information for Fiscal 2012, Fiscal 2011 and Fiscal 2010 (dollars in thousands). Prior years have been adjusted for the accounting method change for inventory (see Note 2 for the impact of the change in accounting principle):
| Fiscal Year Ended
| February 2, 2013 |  | January 28, 2012 |  | January 29, 2011
Net sales (1): |  |  |  |  |  |  |  |
The Children’s Place U.S. | $ | 1,557,549 |  |  | $ | 1,489,795 |  |  | $ | 1,450,116 |
The Children’s Place Canada (2) | 251,937 |  |  | 226,067 |  |  | 223,883 |
Total net sales | $ | 1,809,486 |  |  | $ | 1,715,862 |  |  | $ | 1,673,999 |
Gross profit: |  |  |  |  |
The Children’s Place U.S. | $ | 584,081 |  |  | $ | 553,755 |  |  | $ | 551,327 |
The Children’s Place Canada | 107,359 |  |  | 105,894 |  |  | 108,794 |
Total gross profit | $ | 691,440 |  |  | $ | 659,649 |  |  | $ | 660,121 |
Gross Margin: |  |  |  |  |
The Children’s Place U.S. | 37.5 | % |  | 37.2 | % |  | 38.0 | %
The Children’s Place Canada | 42.6 | % |  | 46.8 | % |  | 48.6 | %
Total gross margin | 38.2 | % |  | 38.4 | % |  | 39.4 | %
Operating income: |  |  |  |  |  |
The Children’s Place U.S. (3) | $ | 68,346 |  |  | $ | 76,531 |  |  | $ | 87,803 |
The Children’s Place Canada (5) | 21,369 |  |  | 28,912 |  |  | 41,407 |
Total operating income | $ | 89,715 |  |  | $ | 105,443 |  |  | $ | 129,210 |
Operating income as a percent of net sales: |  |  |  |  |
The Children’s Place U.S. | 4.4 | % |  | 5.1 | % |  | 6.1 | %
The Children’s Place Canada | 8.5 | % |  | 12.8 | % |  | 18.5 | %
Total operating income | 5.0 | % |  | 6.1 | % |  | 7.7 | %
Depreciation and amortization: |  |  |  |  |
The Children’s Place U.S. (4) | $ | 65,066 |  |  | $ | 64,788 |  |  | $ | 63,990 |
The Children’s Place Canada (5) | 12,369 |  |  | 9,785 |  |  | 7,650 |
Total depreciation and amortization | $ | 77,435 |  |  | $ | 74,573 |  |  | $ | 71,640 |
Capital expenditures: |  |  |  |  |
The Children’s Place U.S. | $ | 75,945 |  |  | $ | 66,690 |  |  | $ | 78,401 |
The Children’s Place Canada | 14,237 |  |  | 13,074 |  |  | 5,544 |
Total capital expenditures | $ | 90,182 |  |  | $ | 79,764 |  |  | $ | 83,945 |
14. | SEGMENT INFORMATION (Continued)
(1) | All of the Company's foreign revenues are included in The Children's Place Canada segment.
(2) | Includes approximately $8.4 million of revenue from international franchisees for Fiscal 2012. There was no revenue from international franchisees prior to Fiscal 2012.
(3) | Includes exit costs associated with the closures of the West Coast DC and Northeast DC of approximately $11.1 million for Fiscal 2012 and approximately $7.7 million of accelerated depreciation associated with the closure of the Northeast DC for Fiscal 2012.
(4) | Includes approximately $7.7 million of accelerated depreciation associated with the closure of the Northeast DC for Fiscal 2012.
(5) | The Company remodeled certain Canadian stores earlier than originally anticipated. Accelerated depreciation associated with these stores approximated $1.6 million and $1.0 million for Fiscal 2012 and Fiscal 2011, respectively.
| February 2, 2013 |  | January 28, 2012
Total assets: |  |  |  |  |
The Children’s Place U.S. | $ | 746,911 |  |  | $ | 706,014 |
The Children’s Place Canada | 176,499 |  |  | 160,238 |
Total assets | $ | 923,410 |  |  | $ | 866,252 |
Geographic Information The Company's long-lived assets are located in the following countries:
|  | February 2, 2013 |  | January 28, 2012
Long-lived assets (1): |  |  |  |
United States |  | $ | 294,123 |  |  | $ | 294,023 |
Canada |  | 39,571 |  |  | 33,715 |
Asia |  | 803 |  |  | 532 |
Total long-lived assets |  | $ | 334,497 |  |  | $ | 328,270 |
____________________________________________
(1) | The Company's long-lived assets are comprised of net property and equipment and other assets.

X
- Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration