v2.4.0.6
Segment Information
 3 Months Ended
Oct. 27, 2012
Segment Information [Abstract]  
Segment Information

12. Segment Information

 

The Company’s segment reporting structure reflects a brand-focused approach, designed to optimize the operational coordination and resource allocation of its businesses across multiple functional areas including specialty retail, e-commerce and licensing.  The five reportable segments described below represent the Company’s brand-based activities for which separate financial information is available and which is utilized on a regular basis by the Company’s executive team to evaluate performance and allocate resources.  In identifying reportable segments, the Company considers economic characteristics, as well as products, customers, sales growth potential and long-term profitability.  As such, the Company’s reports its operations in five reportable segments as follows:

 

 

•

 

Justice segment – consists of the specialty retail, outlet, e-commerce and licensing operations of the Justice brand.

 

•

 

Lane Bryant segment – consists of the specialty retail, outlet and e-commerce operations of the Lane Bryant brand.

 

•

 

maurices segment – consists of the specialty retail, outlet and e-commerce operations of the maurices brand.

 

•

 

dressbarn segment – consists of the specialty retail, outlet and e-commerce operations of the dressbarn brand.

 

•

 

Catherines segment - consists of the specialty retail, outlet and e-commerce operations of the Catherines brand.

 

The accounting policies of the Company’s reporting segments are consistent with those described in Notes 2 and 3 to the Company’s consolidated financial statements included in the Fiscal 2012 10-K.  All intercompany revenues are eliminated in consolidation. Corporate overhead expenses are allocated to the segments based upon specific usage or other reasonable allocation methods.

 

Net sales, operating income (loss), and depreciation and amortization expense for each segment are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

 

 

October 27, 2012

 

 

October 29, 2011

 

 

 

 

(millions)

 

 

Net sales:

 

 

 

 

 

 

Justice

 

$
358.3 

 

$
320.0 

Lane Bryant (a)

 

 
229.8 

 

 

--

maurices

 

 
224.6 

 

 
202.9 

dressbarn

 

 
252.0 

 

 
245.4 

Catherines (a)

 

 
72.8 

 

 

--

Total net sales

 

$
1,137.5 

 

$
768.3 

 

 

 

 

 

 

 

Operating income (loss):

 

 

 

 

 

 

Justice

 

$
56.3 

 

$
47.8 

Lane Bryant (a)

 

 
(17.0)

 

 

--

maurices

 

 
29.6 

 

 
23.7 

dressbarn

 

 
9.0 

 

 
5.0 

Catherines (a)

 

 
1.4 

 

 

--

Subtotal

 

 
79.3 

 

 
76.5 

Less unallocated acquisition-related, integration and restructuring costs

 

 
(6.4)

 

 

--

Total operating income

 

$
72.9 

 

$
76.5 

 

 

 

 

 

 

 

Depreciation and amortization expense:

 

 

 

 

 

 

Justice

 

$
12.0 

 

$
9.9 

Lane Bryant (a)

 

 
9.8 

 

 

--

maurices

 

 
6.8 

 

 
6.5 

dressbarn

 

 
7.7 

 

 
7.7 

Catherines (a)

 

 
1.3 

 

 

--

Total depreciation and amortization expense

 

$
37.6 

 

$
24.1 

 

 

(a) The Charming Shoppes Acquisition was consummated on June 14, 2012; therefore the data related to the Lane Bryant and Catherines segments for the prior reporting period is not presented.