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Segment Reporting
 9 Months Ended
Oct. 31, 2020
Segment Reporting [Abstract]  
Segment Reporting Disclosure Segment Information 
Operating segments are defined as components of an enterprise that engage in business activities and for which discrete financial information is available that is evaluated on a regular basis by the chief operating decision maker to make decisions about how to allocate resources and assess performance. We are a leading specialty retailer and offer a broad selection of quality, branded durable consumer goods and related services in addition to a proprietary credit solution for our core credit-constrained consumers. We have two operating segments: (i) retail and (ii) credit. Our operating segments complement one another. The retail segment operates primarily through our stores and website. Our retail segment product offerings include furniture and mattresses, home appliances, consumer electronics and home office products from leading global brands across a wide range of price points. Our credit segment offers affordable financing solutions to a large, under-served population of credit-constrained consumers who typically have limited credit alternatives. Our operating segments provide customers the opportunity to comparison shop across brands with confidence in our competitive prices as well as affordable monthly payment options, next day delivery and installation in the majority of our markets, and product repair service. The operating segments follow the same accounting policies used in our Condensed Consolidated Financial Statements.
We evaluate a segment’s performance based upon operating income before taxes. Selling, general and administrative expenses (“SG&A”) includes the direct expenses of the retail and credit operations, allocated overhead expenses, and a charge to the credit segment to reimburse the retail segment for expenses it incurs related to occupancy, personnel, advertising and other direct costs of the retail segment, which benefit the credit operations by sourcing credit customers and collecting payments. The reimbursement received by the retail segment from the credit segment is calculated using an annual rate of 2.5% times the average outstanding portfolio balance for each applicable period.
As of October 31, 2020, we operated retail stores in 14 states with no operations outside of the United States. No single customer accounts for more than 10% of our total revenues.
Financial information by segment is presented in the following tables:
 Three Months Ended October 31, 2020Three Months Ended October 31, 2019
(in thousands)RetailCreditTotalRetailCreditTotal
Revenues:
Furniture and mattress$82,793 $— $82,793 $89,070 $— $89,070 
Home appliance99,872 — 99,872 90,343 — 90,343 
Consumer electronics35,517 — 35,517 48,113 — 48,113 
Home office16,711 — 16,711 18,681 — 18,681 
Other4,264 — 4,264 4,026 — 4,026 
Product sales239,157 — 239,157 250,233 — 250,233 
Repair service agreement commissions17,465 — 17,465 26,478 — 26,478 
Service revenues3,150 — 3,150 3,411 — 3,411 
Total net sales259,772 — 259,772 280,122 — 280,122 
Finance charges and other revenues168 74,218 74,386 197 95,808 96,005 
Total revenues259,940 74,218 334,158 280,319 95,808 376,127 
Costs and expenses:
Cost of goods sold160,378 — 160,378 170,453 — 170,453 
Selling, general and administrative expense (1)
84,245 37,913 122,158 87,105 38,503 125,608 
Provision for bad debts72 27,421 27,493 535 45,390 45,925 
Charges and credits— — — 2,628 1,209 3,837 
Total costs and expenses244,695 65,334 310,029 260,721 85,102 345,823 
Operating income15,245 8,884 24,129 19,598 10,706 30,304 
Interest expense— 11,563 11,563 — 15,051 15,051 
Income (loss) before income taxes$15,245 $(2,679)$12,566 $19,598 $(4,345)$15,253 
Nine Months Ended October 31, 2020Nine Months Ended October 31, 2019
(in thousands)RetailCreditTotalRetailCreditTotal
Revenues:
Furniture and mattress$232,670 $— $232,670 $276,889 $— $276,889 
Home appliance288,839 — 288,839 266,989 — 266,989 
Consumer electronics118,677 — 118,677 151,454 — 151,454 
Home office49,056 — 49,056 52,270 — 52,270 
Other13,255 — 13,255 11,654 — 11,654 
Product sales702,497 — 702,497 759,256 — 759,256 
Repair service agreement commissions57,730 — 57,730 78,149 — 78,149 
Service revenues9,611 — 9,611 10,758 — 10,758 
Total net sales769,838 — 769,838 848,163 — 848,163 
Finance charges and other revenues599 247,797 248,396 602 281,933 282,535 
Total revenues770,437 247,797 1,018,234 848,765 281,933 1,130,698 
Costs and expenses:
Cost of goods sold484,015 — 484,015 509,746 — 509,746 
Selling, general and administrative expense (1)
241,003 109,440 350,443 254,874 116,132 371,006 
Provision for bad debts422 176,442 176,864 645 135,062 135,707 
Charges and credits1,355 2,234 3,589 1,933 1,209 3,142 
Total costs and expenses726,795 288,116 1,014,911 767,198 252,403 1,019,601 
Operating income (loss)43,642 (40,319)3,323 81,567 29,530 111,097 
Interest expense— 39,778 39,778 — 43,944 43,944 
Income (loss) before income taxes$43,642 $(80,097)$(36,455)$81,567 $(14,414)$67,153 
October 31, 2020October 31, 2019
(in thousands)RetailCreditTotalRetailCreditTotal
Total assets
$743,568 $1,189,888 $1,933,456 $672,181 $1,480,970 $2,153,151 

(1)For the three months ended October 31, 2020 and 2019, the amount of corporate overhead allocated to each segment reflected in SG&A was $8.5 million and $5.7 million, respectively. For the three months ended October 31, 2020 and 2019, the amount of reimbursement made to the retail segment by the credit segment was $8.2 million and $9.8 million, respectively. For the nine months ended October 31, 2020 and 2019, the amount of corporate overhead allocated to each segment reflected in SG&A was $24.2 million and $23.4 million, respectively. For the nine months ended October 31, 2020 and 2019, the amount of reimbursement made to the retail segment by the credit segment was $26.9 million and $29.2 million, respectively.