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Segment Information | 3 Months Ended
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Oct. 31, 2020
Segment Reporting [Abstract] |
Segment Information | Segment Information Prior to the consummation of the Chapter 11 Sales and Closures, the Company operated its business in three reportable segments: Premium Fashion, Plus Fashion and Kids Fashion. Each segment was reviewed by the Company’s Chief Executive Officer, who functioned as the chief operating decision maker (the “CODM”), and was responsible for reviewing the operating activities, financial results, forecasts and business plans of the segment. Accordingly, the Company’s CODM evaluated performance and allocated resources at the segment level. During the second quarter of Fiscal 2020, the company completed the Dressbarn wind down, which concluded the reporting of the Value Fashion segment. The Company reallocated all corporate overhead to the remaining operating segments. In addition, during the first quarter of Fiscal 2021, the Company completed the sale of Catherines’ intellectual property assets. The company reallocated all corporate overhead to the remaining operating segments. The financial information presented below reflects such changes for all periods presented, including the prior year financial information. Prior to the consummation of the Chapter 11 Sales and Closures, the three reportable operating segments were as follows: •Premium Fashion segment – consisted primarily of the specialty retail, outlet and direct channel operations of the Ann Taylor and LOFT brands. •Plus Fashion segment – consisted of the specialty retail, outlet and direct channel operations of the Lane Bryant brand. •Kids Fashion segment – consisted of the specialty retail, outlet, direct channel and licensing operations of the Justice brand. The accounting policies of the Company’s reportable operating segments are consistent with those described in the Fiscal 2020 10-K. Corporate overhead expenses are allocated to the segments based upon specific usage or other reasonable allocation methods. Certain expenses, including acquisition and integration expenses, and restructuring and other related charges, have not been allocated to the segments, which is consistent with the CODM’s evaluation of the segments. Net sales, operating (loss) income and depreciation and amortization expense for each reportable operating segment are as follows:
| Three Months Ended |  |
| October 31, 2020 |  | November 2, 2019 |  |  |  |
| (millions) |  |
Net sales: |  |  |  |  |  |  |
Premium Fashion | $ | 306.5 |  |  | $ | 585.0 |  |  |  |  |
Plus Fashion | 170.2 |  |  | 220.7 |  |  |  |  |
Kids Fashion | 96.3 |  |  | 254.8 |  |  |  |  |
Total net sales | $ | 573.0 |  |  | $ | 1,060.5 |  |  |  |  |
Operating (loss) income (a): |  |  |  |  |  |  |
Premium Fashion | $ | (155.2) |  |  | $ | 27.0 |  |  |  |  |
Plus Fashion | 1.8 |  |  | (8.6) |  |  |  |  |
Kids Fashion | (21.8) |  |  | (8.1) |  |  |  |  |
Unallocated restructuring and other related charges (b) | (1.3) |  |  | (3.8) |  |  |  |  |
Total operating (loss) income | $ | (176.5) |  |  | $ | 6.5 |  |  |  |  |
Depreciation and amortization expense: |  |  |  |  |  |  |
Premium Fashion | $ | 29.6 |  |  | $ | 32.7 |  |  |  |  |
Plus Fashion | 13.1 |  |  | 14.5 |  |  |  |  |
Kids Fashion | 4.5 |  |  | 19.1 |  |  |  |  |
Total depreciation and amortization expense | $ | 47.2 |  |  | $ | 66.3 |  |  |  |  |
(a) For the three months ended October 31, 2020 and November 2, 2019, respectively, the Dressbarn and Catherines businesses were classified as discontinued operations within the condensed consolidated financial statements. As a result, shared expenses of $26.5 million for the three months ended November 2, 2019, which were previously allocated to Dressbarn and Catherines have been reallocated to the remaining operating units. (b) Restructuring and other related charges are as follows:
| Three Months Ended |  |
| October 31, 2020 |  | November 2, 2019 |  |  |  |
| (millions) |  |
Cash related charges (i): |  |  |  |  |  |  |
Severance and benefit costs: |  |  |  |  |  |  |
Premium Fashion | $ | (0.9) |  |  | $ | (0.4) |  |  |  |  |
Plus Fashion | 0.2 |  |  | (0.3) |  |  |  |  |
Kids Fashion | 2.0 |  |  | (0.1) |  |  |  |  |
Corporate | (0.1) |  |  | 4.6 |  |  |  |  |
Total severance and benefit costs | 1.2 |  |  | 3.8 |  |  |  |  |
Professional fees and other related charges: |  |  |  |  |  |  |
Corporate | 0.1 |  |  | — |  |  |  |  |
Total professional fees and other related charges | 0.1 |  |  | — |  |  |  |  |
Total cash related charges | 1.3 |  |  | 3.8 |  |  |  |  |
Total restructuring and other related charges | $ | 1.3 |  |  | $ | 3.8 |  |  |  |  |
(i) The charges incurred under the Company’s cost reduction initiatives are more fully described in Note 8.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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