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Contract Assets And Liabilities

12 Months Ended

Feb. 02, 2020

Contract Assets And Liabilities [Abstract]

Contract Assets And Liabilities

9.  CONTRACT ASSETS AND LIABILITIES

The Company’s contract assets primarily consist of the right of return for amounts of inventory to be returned that is expected to be resold and is recorded in Prepaid expenses and other current assets on the Company’s consolidated balance sheets. The Company’s contract liabilities primarily consist of gift card liabilities and are recorded upon issuance in accrued expenses and other current liabilities under deferred revenue (see Note 5 “Accrued Expenses and Other Current Liabilities”) on the Company’s consolidated balance sheets.




		February 2, 2020			February 3, 2019
(in thousands)
Contract assets		$	1,932		$	896
Contract liabilities		$	9,790		$	8,508



Revenue from gift cards is recognized when the gift card is redeemed by the customer for merchandise, or as gift card breakage, an estimate of gift cards which will not be redeemed. The Company does not record breakage revenue when escheat liability to the relevant jurisdictions exists. Gift card breakage is recorded within Net revenue on the Company’s consolidated statement of operations. The following table provides the reconciliation of the contract liability related to gift cards:






		February 2, 2020
(in thousands)
Balance as of Beginning of Period		$	8,508
Gift cards sold			17,523
Gift cards redeemed			(15,137)
Gift card breakage			(1,047)
Gift card escheat			(57)
Balance as of February 2, 2020		$	9,790





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- References

No definition available.

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

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