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BUSINESS SEGMENTS
 6 Months Ended
Jun. 30, 2015
BUSINESS SEGMENTS

NOTE I — BUSINESS SEGMENTS

The Company operates in three reportable business segments: U.S. Wholesale, International and Retail Direct. The U.S. Wholesale segment is the Company’s primary domestic business that designs, markets and distributes its products to retailers and distributors. The International segment consists of certain business operations conducted outside the U.S. which was previously included in the Wholesale segment. The Retail Direct segment is where the Company markets and sells a limited selection of its products directly to consumers through its Pfaltzgraff®, Mikasa®, Fred® and Friends, Built NY®, Lifetime Sterling® and The English Table Internet websites.

 

The Company has segmented its operations to reflect the manner in which management reviews and evaluates the results of its operations. While the three segments distribute similar products, the segments have been distinct due to the different methods the Company uses to sell, market and distribute the products. Management evaluates the performance of the U.S. Wholesale, International and Retail Direct segments based on net sales and income (loss) from operations. Such measures give recognition to specifically identifiable operating costs such as cost of sales, distribution expenses and selling, general and administrative expenses. Certain general and administrative expenses, such as senior executive salaries and benefits, stock compensation, director fees and accounting, legal and consulting fees, are not allocated to the specific segments and are reflected as unallocated corporate expenses.

 

     Three Months Ended
June 30,		      Six Months Ended
June 30,		  
     2015      2014      2015      2014  
     (in thousands)  

Net sales

            

U.S. Wholesale

    $ 94,601       $ 85,132       $ 181,122       $ 170,814   

International

      22,464         26,586         47,829         54,722   

Retail Direct

      3,870         3,603         9,641         8,196   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total net sales

    $ 120,935       $ 115,321       $ 238,592       $ 233,732   
  

 

 

     

 

 

     

 

 

     

 

 

  

Income (loss) from operations

            

U.S. Wholesale

    $ 3,133       $ 768       $ 5,084       $ 3,178   

International

      (1,577 )       (708 )       (2,122 )       (915 ) 

Retail Direct

      (358 )       (417 )       (407 )       (716 ) 

Unallocated corporate expenses

      (2,185 )       (2,800 )       (5,713 )       (6,901 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Total loss from operations

    $ (987 )     $ (3,157 )     $ (3,158 )     $ (5,354 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Depreciation and amortization

            

U.S. Wholesale

    $ 2,258       $ 2,314       $ 4,445       $ 4,521   

International

      1,340         1,339         2,670         2,681   

Retail Direct

      40         63         78         127   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total depreciation and amortization

    $ 3,638       $ 3,716       $ 7,193       $ 7,329   
  

 

 

     

 

 

     

 

 

     

 

 

  

 

     June 30,
2015		      December 31,
2014		  
     (in thousands)  

Assets

      

U.S. Wholesale

    $ 281,056       $ 287,744   

International

      117,807         128,055   

Retail Direct

      376         535   

Unallocated/ Corporate/ Other

      6,128         5,068   
  

 

 

     

 

 

  

Total assets

    $ 405,367       $ 421,402