Derivatives (Tables)

3 Months Ended

May 04, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Outstanding Foreign Exchange Forward Contracts

As of May 4, 2013, the Company had outstanding the following foreign currency forward contracts that were entered into to hedge foreign currency denominated net monetary assets/liabilities:

	Notional Amount(1)
Euro	$	19,578
Swiss Franc	$	16,093

⁽¹⁾  Amounts are reported in thousands and in U.S. Dollar equivalent as of May 4, 2013.

As of May 4, 2013, the Company had outstanding the following foreign currency exchange forward contracts that were entered into to hedge either a portion, or all of, forecasted foreign-currency-denominated intercompany inventory sales, the resulting settlement of the foreign-currency-denominated intercompany accounts receivable, or both:

	Notional Amount(1)
Euro	$	159,876
British Pound	$	72,870
Canadian Dollar	$	12,896

⁽¹⁾  Amounts are reported in thousands and in U.S. Dollar equivalent as of May 4, 2013.

Location and Amounts of Derivative Fair Values on the Consolidated Balance Sheets

The location and amounts of derivative fair values on the Consolidated Balance Sheets as of May 4, 2013 and February 2, 2013 were as follows:

	Balance Sheet	Asset Derivatives				Balance Sheet	Liability Derivatives
(in thousands):	Location	May 4, 2013		February 2, 2013		Location	May 4, 2013		February 2, 2013
Derivatives Designated as Hedging Instruments:
Foreign Currency Exchange Forward Contracts	Other Current Assets	$	4,194	$	1,967	Other Liabilities	$	2,180	$	9,270
Derivatives Not Designated as Hedging Instruments:
Foreign Currency Exchange Forward Contracts	Other Current Assets	$	—	$	526	Other Liabilities	$	152	$	717
Total	Other Current Assets	$	4,194	$	2,493	Other Liabilities	$	2,332	$	9,987

Location and Amounts of Derivative Gains and Losses on the Consolidated Statements of Operations and Comprehensive Income (Loss)

The location and amounts of derivative gains and losses for the thirteen weeks ended May 4, 2013 and April 28, 2012 on the Consolidated Statements of Operations and Comprehensive Income (Loss) were as follows:

		Thirteen Weeks Ended
		May 4, 2013		April 28, 2012
(in thousands):	Location	Gain/(Loss)		Gain/(Loss)
Derivatives not designated as Hedging Instruments:
Foreign Exchange Forward Contracts	Other Operating (Income) Expense, Net	$	1,304	$	840

	Amount of Gain (Loss) Recognized in OCI on Derivative Contracts (Effective Portion) (a)					Location of Gain (Loss) Reclassified from Accumulated OCI into Earnings (Effective Portion)	Amount of Gain (Loss) Reclassified from Accumulated OCI into Earnings (Effective Portion) (b)					Location of Gain (Loss) Recognized in Earnings on Derivative Contracts (Ineffective Portion and Amount Excluded from Effectiveness Testing)	Amount of Gain  (Loss) Recognized in Earnings on Derivative Contracts (Ineffective Portion  and Amount Excluded from Effectiveness Testing) (c)
	Thirteen Weeks Ended
(in thousands):	May 4, 2013		April 28, 2012				May 4, 2013			April 28, 2012			May 4, 2013		April 28, 2012
Derivatives in Cash Flow Hedging Relationships
Foreign Currency Exchange Forward Contracts	$	9,769	$	(3,226	)	Cost of Goods Sold	$	(729	)	$	4,855	Other Operating (Income) Expense, Net	$	97	$	(114	)

(a) The amount represents the change in fair value of derivative contracts due to changes in spot rates.

(b) The amount represents reclassification from OCI into earnings that occurs when the hedged item affects earnings, which is when merchandise is sold to the Company’s customers.

(c) The amount represents the change in fair value of derivative contracts due to changes in the difference between the spot price and forward price that is excluded from the assessment of hedge effectiveness and, therefore, recognized in earnings.