SEGMENTED INFORMATION AND DISAGGREGATED NET REVENUE

6 Months Ended

Aug. 02, 2020

Segment Reporting [Abstract]

SEGMENTED INFORMATION AND DISAGGREGATED NET REVENUE

SEGMENTED INFORMATION AND DISAGGREGATED NET REVENUE

The Company applies ASC Topic 280, Segment Reporting ("ASC 280"), in determining reportable segments for its financial statement disclosure. The Company reports segments based on the financial information it uses in managing its business. The Company's reportable segments are comprised of company-operated stores and direct to consumer. Direct to consumer represents sales from the Company's e-commerce websites and mobile apps. Other net revenue includes revenue from outlets, temporary locations, sales to wholesale accounts, license and supply arrangements, and the sale of in-home fitness equipment and associated content subscriptions. During the first quarter of fiscal 2020, the Company reviewed its segment and general corporate expenses and determined certain costs that are more appropriately classified in different categories. Accordingly, comparative figures have been reclassified to conform to the financial presentation adopted for the current year.

	Quarter Ended				Two Quarters Ended
	August 2, 2020		August 4, 2019		August 2, 2020		August 4, 2019
	(In thousands)
Net revenue:
Company-operated stores	$	287,201	$	583,756	$	547,171	$	1,090,178
Direct to consumer	554,302		217,636		906,341		427,480
Other	61,439		81,960		101,392		148,009
	$	902,942	$	883,352	$	1,554,904	$	1,665,667
Segmented income (loss) from operations:
Company-operated stores	$	(5,293)	$	154,316	$	(35,447)	$	275,227
Direct to consumer	237,595		86,618		394,542		165,955
Other	2,587		16,418		2,318		29,041
	234,889		257,352		361,413		470,223
General corporate expense	98,292		89,370		190,020		173,429
Amortization of intangible assets	724		—		724		—
Acquisition-related expenses	11,464		—		13,509		—
Income from operations	124,409		167,982		157,160		296,794
Other income (expense), net	(344)		1,850		830		4,229
Income before income tax expense	$	124,065	$	169,832	$	157,990	$	301,023
Capital expenditures:
Company-operated stores	$	27,316	$	42,026	$	61,135	$	80,736
Direct to consumer	9,781		7,584		12,079		13,810
Corporate and other	15,525		17,720		31,509		41,218
	$	52,622	$	67,330	$	104,723	$	135,764
Depreciation and amortization:
Company-operated stores	$	21,963	$	23,712	$	47,591	$	44,772
Direct to consumer	2,928		2,970		5,612		5,432
Corporate and other	15,753		10,917		30,973		20,218
	$	40,644	$	37,599	$	84,176	$	70,422

The following table disaggregates the Company's net revenue by geographic area.

	Quarter Ended				Two Quarters Ended
	August 2, 2020		August 4, 2019		August 2, 2020		August 4, 2019
	(In thousands)
United States	$	595,918	$	621,843	$	1,055,270	$	1,175,490
Canada	147,658		145,605		247,155		269,250
Outside of North America	159,366		115,904		252,479		220,927
	$	902,942	$	883,352	$	1,554,904	$	1,665,667

The following table disaggregates the Company's net revenue by category.

	Quarter Ended				Two Quarters Ended
	August 2, 2020		August 4, 2019		August 2, 2020		August 4, 2019
	(In thousands)
Women's product	$	649,310	$	616,197	$	1,129,623	$	1,179,180
Men's product	191,019		212,727		320,148		382,946
Other categories	62,613		54,428		105,133		103,541
	$	902,942	$	883,352	$	1,554,904	$	1,665,667