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Revenue Recognition | 9 Months Ended
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Nov. 02, 2019
Revenue From Contract With Customer [Abstract] |
Revenue Recognition | 2. Revenue Recognition The Company operates as a retailer of big and tall men’s clothing, which includes stores, direct and wholesale. Revenue is recognized by the operating segment that initiates a customer’s order. Store sales are defined as sales that originate and are fulfilled directly at the store level. Direct sales are defined as sales that originate online, including those initiated online at the store level, on its website or on third-party marketplaces. Wholesale sales are defined as sales made to wholesale customers pursuant to the terms of each customer’s contract with the Company. Generally, all revenues are recognized when control of the promised goods is transferred to customers, in an amount that reflects the consideration in exchange for those goods. Sales tax collected from customers and remitted to taxing authorities is excluded from revenue and is included as part of accrued expenses on the Consolidated Balance Sheets.
| ̶ | Revenue from the Company’s store operations is recorded upon purchase of merchandise by customers, net of an allowance for sales returns, which is estimated based upon historical experience.
| ̶ | Revenue from the Company’s direct operations is recognized at the time a customer order is delivered, net of an allowance for sales returns, which is estimated based upon historical experience.
| ̶ | Revenue from the Company’s wholesale operations is recognized at the time the wholesale customer takes physical receipt of the merchandise, net of any identified discounts in accordance with each individual order. An allowance for chargebacks will be established once the Company has sufficient historical experience. For the first nine months of fiscal 2019 and fiscal 2018, chargebacks were immaterial.
Unredeemed Gift Cards, Gift Certificates, and Credit Vouchers. Upon issuance of a gift card, gift certificate, or credit voucher, a liability is established for its cash value. The liability is relieved and net sales are recorded upon redemption by the customer. Based on historical redemption patterns, the Company can reasonably estimate the amount of gift cards, gift certificates, and credit vouchers for which redemption is remote, which is referred to as “breakage”. Breakage is recognized over two years in proportion to historical redemption trends and is recorded as sales in the Consolidated Statements of Operations. The gift card liability, net of breakage, was $2.1 million and $2.4 million at November 2, 2019 and February 2, 2019, respectively. Unredeemed Loyalty Coupons. The Company offers a free loyalty program to its customers for which points accumulate based on the purchase of merchandise. Over 90% of the Company’s customers participate in the loyalty program. Under ASC 606, Revenue from Contracts with Customers, these loyalty points provide the customer with a material right and a distinct performance obligation with revenue deferred and recognized when the points are expected to redeem or expire. The cycle of earning and redeeming loyalty points is generally under one year in duration. The loyalty accrual, net of breakage, was $1.3 million and $1.0 million at November 2, 2019 and February 2, 2019, respectively. Shipping. Shipping and handling costs are accounted for as fulfillment costs and are included in cost of sales for all periods presented. Amounts related to shipping and handling that are billed to customers are recorded in sales, and the related costs are recorded in cost of goods sold, including occupancy costs, in the Consolidated Statements of Operations. Disaggregation of Revenue As noted above under Segment Information in Note 1, the Company’s business consists of one reportable segment, its retail segment. Substantially all of the Company’s revenue is generated from its stores and direct businesses. The operating results from the wholesale segment, which were immaterial, have been aggregated with this reportable segment for the first nine months of fiscal 2019, but the revenues are separately reported below. Accordingly, the Company has determined that the following sales channels depict the nature, amount, timing, and uncertainty of how revenue and cash flows are affected by economic factors:
|  | For the three months ended |  |  |  |  |  | For the nine months ended |  |  |  |
(in thousands) |  | November 2, 2019 |  |  |  |  | November 3, 2018 |  |  |  |  |  | November 2, 2019 |  |  |  |  | November 3, 2018 |  |  |  |
Store sales |  | $ | 81,054 |  |  | 78.1 | % | $ | 85,106 |  |  | 79.8 | % |  | $ | 262,888 |  |  | 78.5 | % | $ | 272,413 |  |  | 79.6 | %
Direct sales |  |  | 22,676 |  |  | 21.9 | % |  | 21,591 |  |  | 20.2 | % |  |  | 71,915 |  |  | 21.5 | % |  | 69,772 |  |  | 20.4 | %
Retail segment |  | $ | 103,730 |  |  |  |  | $ | 106,697 |  |  |  |  |  | $ | 334,803 |  |  |  |  | $ | 342,185 |  |  |  |
Wholesale segment |  |  | 2,851 |  |  |  |  |  | 372 |  |  |  |  |  |  | 7,996 |  |  |  |  |  | 421 |  |  |  |
Total Sales |  | $ | 106,581 |  |  |  |  | $ | 107,069 |  |  |  |  |  | $ | 342,799 |  |  |  |  | $ | 342,606 |  |  |  |

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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 + Details
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