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Reportable Segment Information | 12 Months Ended
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Feb. 01, 2025
Reportable Segment Information [Abstract] |
Reportable Segment Information | 13. 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, Verso na 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 have similar economic characteristics, products, production processes, customers 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 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. The Company does not allocate certain corporate expenses to the Credit segment. The Company’s President and Chief Executive Officer is the Company’s chief operating decision maker (“CODM”). The structure described above reflects the manner in which the CODM regularly assesses information for decision-making purposes, including the allocation of resources. The Company also provides corporate services, including finance, information technology, and corporate administration, to its segments which are fully allocated to the retail segment. Interest and other income from assets held for investment and sale are not included in assessing the segments’ performance and therefore not allocated to either segment. The CODM manages and evaluates the segments’ operating performance based on segment sales, expenses, and profit or loss from operations before income taxes as presented in the Company’s annual budget and forecasting process, as well as monthly analyses of budget-to-actual and prior year variances. Segment expenses and other items primarily include cost of goods sold, selling, general and administrative expenses, depreciation and interest and other income. Assessment and approval of all capital expenditures are determined to be in support of and based on the needs of the retail segment; however, the CODM does not evaluate performance or allocate resources based on segment asset balances; therefore, total segment assets are not presented in the tables below. The accounting policies of the segments are the same as those described in the Summary of Significant Accounting Policies in Note 1. The Company evaluates performance based on profit or loss from operations before income taxes. The following schedule summarizes certain segment information (in thousands): ` Fiscal 2024 Retail Credit Total Total Revenues $ 647,110 $ 2,696 $ 649,806 Cost of goods sold (a) 436,440 - 436,440 Selling, general, and administrative (b) 162,367 1,630 163,997 Corporate overhead 67,492 - 67,492 Depreciation 9,817 - 9,817 Interest and other income (410) (1,162) (1,572) Income (loss) before income taxes $ (28,596) $ 2,228 $ (26,368) Corporate interest and other income (10,255) Net income (loss) before income taxes $ (16,113) Capital expenditures $ 7,872 $ - $ 7,872 Fiscal 2023 Retail Credit Total Total Revenues $ 705,419 $ 2,640 $ 708,059 Cost of goods sold (a) 464,313 - 464,313 Selling, general, and administrative (b) 176,205 1,632 177,837 Corporate overhead 74,940 - 74,940 Depreciation 9,871 - 9,871 Interest and other income (267) (737) (1,004) Income (loss) before income taxes $ (19,643) $ 1,745 $ (17,898) Corporate interest and other income (4,097) Net income (loss) before income taxes $ (13,801) Capital expenditures $ 12,532 $ - $ 12,532 Fiscal 2022 Retail Credit Total Total Revenues $ 757,017 $ 2,243 $ 759,260 Cost of goods sold (a) 509,664 - 509,664 Selling, general, and administrative (b) 173,854 1,497 175,351 Corporate overhead 67,297 - 67,297 Depreciation 11,079 1 11,080 Interest and other income (167) (388) (555) Income (loss) before income taxes $ (4,710) $ 1,133 $ (3,577) Corporate interest and other income (5,347) Net income (loss) before income taxes $ 1,770 Capital expenditures $ 19,433 $ - $ 19,433 (a) Refer to Note 1 for additional information on the components of Cost of goods sold. (b) Selling, general, and administrative expense include corporate and store payroll, related payroll taxes and benefits, insurance, supplies, advertising, bank and credit card processing fees.

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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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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