Revenue

12 Months Ended

Feb. 01, 2025

Revenue from Contract with Customer [Abstract]

REVENUE

REVENUE

DISAGGREGATION OF NET SALES

Beginning with this 2024 Annual Report on Form 10-K, we changed the presentation of disaggregation of net sales for all periods presented to include net sales by product and service categories with an athletic footwear category and excluded the previously presented disaggregation of net sales by brand categories. This change aligns with how management of the Company evaluates the net sales performance of our segments.

The following table presents net sales disaggregated by product and service categories for each segment:

(in thousands)	2024		2023		2022
Net sales:
U.S. Retail segment:
Non-athletic footwear:
Women's	$	1,179,957	$	1,296,213	$	1,456,271
Men's	333,830		383,930		401,969
Kids'	100,583		82,900		93,282
Athletic footwear	712,180		633,966		684,055
Accessories and other	139,551		136,840		155,936
	2,466,101		2,533,849		2,791,513
Canada Retail segment:
Non-athletic footwear:
Women's	114,008		111,233		115,424
Men's	42,215		42,168		45,769
Kids'	19,619		17,256		20,279
Athletic footwear	96,839		83,496		90,319
Accessories and other	10,342		10,076		11,450
	283,023		264,229		283,241
Brand Portfolio segment:
Wholesale	335,586		271,655		276,887
Direct-to-consumer	57,610		65,724		37,840
Commission income and other	5,685		11,597		12,988
	398,881		348,976		327,715
Total segment net sales	3,148,005		3,147,054		3,402,469
Elimination of intersegment sales	(138,743)		(72,078)		(87,041)
Total net sales	$	3,009,262	$	3,074,976	$	3,315,428

DEFERRED REVENUE LIABILITIES

We record deferred revenue liabilities, included in accrued expenses on the consolidated balance sheets, for remaining obligations we have to our customers. The following table presents the changes and total balances for gift cards and reward programs:

(in thousands)	2024		2023		2022
Gift cards:
Beginning of period	$	31,662	$	35,121	$	36,783
Gift cards redeemed and breakage recognized to net sales	(62,379)		(66,466)		(74,016)
Gift cards issued	59,680		63,007		72,354
End of period	$	28,963	$	31,662	$	35,121
Reward programs:
Beginning of period	$	15,971	$	16,900	$	15,736
Reward certificates redeemed and expired and other adjustments recognized to net sales	(30,326)		(31,712)		(32,923)
Deferred revenue for reward points issued	28,481		30,783		34,087
End of period	$	14,126	$	15,971	$	16,900

CUSTOMER RETURNS AND ALLOWANCES

We reduce sales by the amount of actual and remaining expected customer returns and allowances, and cost of sales by the amount of merchandise we expect to recover. Customer allowances may be provided to our wholesale customers for margin assistance, advertising support, and various other deductions. Customer returns and allowances are estimated based on anticipated future activity using historical experience and trends and existing arrangements with customers.

The following table presents the changes and total balances for customer returns and allowances:

(in thousands)	2024		2023		2022
Beginning of period	$	19,569	$	19,337	$	20,671
Net sales reduced for estimated returns and allowances	477,516		489,375		483,418
Actual returns and allowances during the period	(479,032)		(489,143)		(484,752)
End of period	$	18,053	$	19,569	$	19,337

As of February 1, 2025 and February 3, 2024, the asset for recovery of merchandise returns was $8.9 million and $10.0 million, respectively, and is included in prepaid expenses and other current assets on the consolidated balance sheets.