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SEGMENT INFORMATION | 3 Months Ended
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May 03, 2014
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 International. 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 and U.S. revenue from the Company's U.S. wholesale partners. Included in The Children's Place International 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 International 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 to 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 May 3, 2014, The Children’s Place U.S. operated 972 stores and The Children’s Place International operated 134 stores. As of May 4, 2013, The Children’s Place U.S. operated 980 stores and The Children’s Place International operated 131 stores. The following tables provide segment level financial information (dollars in thousands):
| Thirteen Weeks Ended
| May 3, 2014 |  | May 4, 2013
Net sales: |  |  |  |  |
The Children’s Place U.S. | $ | 366,132 |  |  | $ | 373,653 |
The Children’s Place International (1) | 44,017 |  |  | 49,511 |
Total net sales | $ | 410,149 |  |  | $ | 423,164 |
Gross profit: |  |  |  |  |
The Children’s Place U.S. | $ | 134,195 |  |  | $ | 143,936 |
The Children’s Place International | 14,066 |  |  | 19,332 |
Total gross profit | $ | 148,261 |  |  | $ | 163,268 |
Gross Margin: |  |  |  |  |
The Children’s Place U.S. | 36.7 | % |  | 38.5 | %
The Children’s Place International | 32.0 | % |  | 39.0 | %
Total gross margin | 36.1 | % |  | 38.6 | %
Operating income: |  |  |  |  |
The Children’s Place U.S. (2) | $ | 22,073 |  |  | $ | 27,935 |
The Children’s Place International | (1,990 | ) |  | 524 |
Total operating income | $ | 20,083 |  |  | $ | 28,459 |
Operating income as a percent of net sales: |  |  |  |  |
The Children’s Place U.S. | 6.0 | % |  | 7.5 | %
The Children’s Place International | (4.5 | )% |  | 1.1 | %
Total operating income | 4.9 | % |  | 6.7 | %
Depreciation and amortization: |  |  |  |  |
The Children’s Place U.S. | $ | 12,372 |  |  | $ | 14,559 |
The Children’s Place International | 1,855 |  |  | 2,265 |
Total depreciation and amortization | $ | 14,227 |  |  | $ | 16,824 |
Capital expenditures: |  |  |  |  |
The Children’s Place U.S. | $ | 13,839 |  |  | $ | 17,974 |
The Children’s Place International | 2,063 |  |  | 4,127 |
Total capital expenditures | $ | 15,902 |  |  | $ | 22,101 |
____________________________________________
(1) | Net sales from The Children's Place International are primarily derived from revenues from Canadian operations.
(2) | Includes other costs (income) associated with the closures of the West Coast DC and Northeast DC of $0.2 million and $(1.0) million for the First Quarter 2014 and First Quarter 2013, respectively. Also includes additional SG&A costs incurred related to restructuring, severance and reorganizations of approximately $2.3 million and $0.5 million for the First Quarter 2014 and First Quarter 2013, respectively.
| May 3, 2014 |  | February 1, 2014 |  | May 4, 2013
Total assets: |  |  |  |  |  |  |  |
The Children’s Place U.S. | $ | 780,816 |  |  | $ | 824,893 |  |  | $ | 750,378 |
The Children’s Place International | 156,723 |  |  | 165,737 |  |  | 154,694 |
Total assets | $ | 937,539 |  |  | $ | 990,630 |  |  | $ | 905,072 |

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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 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 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: 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 4: 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 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 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: 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 8: 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 Reference 9: 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 10: 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 11: 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 12: 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 13: 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 14: 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 + Details
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