v3.20.4

Revenue Recognition | 3 Months Ended
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Oct. 31, 2020
Revenue Recognition [Abstract] |
Revenue Recognition | Revenue Recognition Contract liabilities The contract liabilities representing unearned revenue for our continuing operations are as follows:
|  | October 31, 2020 |  | August 1, 2020 |  | November 2, 2019 |  | August 3, 2019
|  | (millions)
Deferred revenue - gift card liability |  | $ | 73.1 |  |  | $ | 75.8 |  |  | $ | 71.1 |  |  | $ | 71.5 |
Deferred revenue - loyalty programs |  | 14.9 |  |  | 18.0 |  |  | 18.1 |  |  | 17.8 |
For the three months ended October 31, 2020 and November 2, 2019, the Company recognized revenue of approximately $10 million and $18 million, respectively, associated with gift card redemptions and gift card breakage. Of these amounts, approximately $2 million and $2 million, respectively, were recorded within Income from discontinued operations. The reduction in income from gift cards during the three months ended October 31, 2020 compared to the prior year was due to the significant decline in store traffic reflecting the continued impact of COVID-19. For the three months ended October 31, 2020 and November 2, 2019, the Company recognized revenue of approximately $14 million and $18 million, respectively, associated with reward redemptions and breakage related to the Company’s loyalty programs. Of these amounts, approximately $3 million and $7 million, respectively, were recorded within Income from discontinued operations. The Company’s revenues by major product categories as a percentage of total net sales are as follows:
|  | Three Months Ended |  |
|  | October 31, 2020 |  | November 2, 2019 |  |  |  |
Apparel |  | 87 | % |  | 84 | % |  |  |  |
Accessories |  | 7 | % |  | 11 | % |  |  |  |
Other |  | 6 | % |  | 5 | % |  |  |  |
Total net sales |  | 100 | % |  | 100 | % |  |  |  |

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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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- References No definition available. + Details
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