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Reportable Segment Information
 6 Months Ended
Jul. 29, 2023
Reportable Segment Information [Abstract]  
Reportable Segment Information
NOTE 5 – REPORTABLE SEGMENT INFORMATION:
The Company
 
has determined
 
that it
 
has
four
 
operating segments,
 
as defined
 
under ASC
 
280-10 –
Segment
Reporting
, including Cato,
 
It’s Fashion, Versona
 
and Credit.
 
As outlined in
 
ASC 280-10, the
 
Company has
two
 
reportable segments: Retail and Credit.
 
The Company has aggregated its three retail operating segments,
including
 
e-commerce,
 
based
 
on the
 
aggregation
 
criteria
 
outlined in
 
ASC
 
280-10, which
 
states that
 
two
 
or
more operating segments may be aggregated into a single reportable segment if aggregation is consistent with
the
 
objective
 
and
 
basic
 
principles
 
of
 
ASC
 
280-10,
 
which
 
require
 
the
 
segments
 
to
 
have
 
similar
 
economic
characteristics, products, production processes, clients and
 
methods of distribution.
 
The
 
Company’s
 
retail
 
operating
 
segments
 
have
 
similar
 
economic
 
characteristics
 
and
 
similar
 
operating,
financial and
 
competitive risks.
 
The products
 
sold in each
 
retail operating
 
segment are
 
similar in
 
nature, as
they
 
all
 
offer
 
women’s
 
apparel,
 
shoes
 
and
 
accessories.
 
Merchandise
 
inventory
 
of
 
the
 
Company’s
 
retail
operating
 
segments
 
is
 
sourced
 
from
 
the
 
same
 
countries
 
and
 
some
 
of
 
the
 
same
 
vendors,
 
using
 
similar
production processes.
 
Merchandise for the Company’s retail operating segments is distributed to retail stores
in a similar manner through
 
the Company’s single distribution center and is
 
subsequently sold to customers in
a similar
 
manner.
 
The
 
Company
 
operates
 
its
 
women’s
 
fashion
 
specialty
 
retail
 
stores
 
in
31
 
states
 
as
 
of
 
July
 
29,
 
2023,
principally in
 
the southeastern
 
United States.
 
The Company offers its own credit
 
card to its customers and
all
 
credit
 
authorizations,
 
payment
 
processing
 
and
 
collection
 
efforts
 
are
 
performed
 
by
 
a
 
wholly-owned
subsidiary of the Company.
NOTE 5 – REPORTABLE SEGMENT INFORMATION
 
(CONTINUED):
The following schedule summarizes certain segment
 
information (in thousands):
Three Months Ended
Six Months Ended
July 29, 2023
Retail
Credit
Total
July 29, 2023
Retail
Credit
Total
Revenues
$182,213
$658
$182,871
Revenues
$373,648
$1,273
$374,921
Depreciation
2,509
1
2,510
Depreciation
4,866
1
4,867
Interest and other income
(1,334)
-
(1,334)
Interest and other income
(2,231)
-
(2,231)
Income before
 
income taxes
2,207
253
2,460
Income before
 
income taxes
8,590
439
9,029
Capital expenditures
2,300
-
2,300
Capital expenditures
8,470
-
8,470
Three Months Ended
Six Months Ended
July 30, 2022
Retail
Credit
Total
July 30, 2022
Retail
Credit
Total
Revenues
$196,314
$550
$196,864
Revenues
$402,523
$1,062
$403,585
Depreciation
2,810
1
2,811
Depreciation
5,553
1
5,554
Interest and other income
(1,884)
-
(1,884)
Interest and other income
(2,287)
-
(2,287)
Income before
 
income taxes
3,289
131
3,420
Income before
 
income taxes
14,903
214
15,117
Capital expenditures
5,944
-
5,944
Capital expenditures
10,384
-
10,384
Retail
Credit
Total
Total assets as of July 29, 2023
$468,923
$38,744
$507,667
Total assets as of January 28, 2023
514,609
38,531
553,140
The
 
Company
 
evaluates
 
segment
 
performance
 
based
 
on
 
income
 
before
 
taxes.
 
The
 
Company
 
does
 
not
allocate certain corporate expenses or
 
income taxes to the credit segment.
The following schedule summarizes the direct expenses
 
of the credit segment, which are
 
reflected in Selling,
general and administrative expenses (in
 
thousands):
Three Months Ended
Six Months Ended
July 29, 2023
July 30, 2022
July 29, 2023
July 30, 2022
Payroll
$
142
$
132
$
276
$
269
Postage
109
99
210
192
Other expenses
154
187
348
386
Total expenses
$
405
$
418
$
834
$
847