Business Segment Information

9 Months Ended

Oct. 29, 2022

Note 6 Business Segment Information

Following is a summary of certain key financial measures for the Company’s business segments for the periods ended October 29, 2022 and October 30, 2021:


	Famous		Brand		Eliminations
($ thousands)	Footwear		Portfolio		and Other		Total
Thirteen Weeks Ended October 29, 2022
Net sales	$	481,951	$	323,242	$	(6,935)	$	798,258
Intersegment sales ⁽¹⁾		—		6,935		—		6,935
Operating earnings (loss)		59,267		22,304		(27,724)		53,847
Segment assets		833,268		955,712		159,333		1,948,313

Thirteen Weeks Ended October 30, 2021
Net sales	$	494,660	$	300,513	$	(11,017)	$	784,156
Intersegment sales⁽¹⁾		—		11,017		—		11,017
Operating earnings (loss)		87,375		11,383		(17,440)		81,318
Segment assets		736,858		909,175		228,525		1,874,558

Thirty-Nine Weeks Ended October 29, 2022
Net sales	$	1,302,828	$	1,013,043	$	(44,167)	$	2,271,704
Intersegment sales ⁽¹⁾		—		44,167		—		44,167
Operating earnings (loss)		171,451		93,063		(76,052)		188,462

Thirty-Nine Weeks Ended October 30, 2021
Net sales	$	1,346,413	$	789,832	$	(37,922)	$	2,098,323
Intersegment sales ⁽¹⁾		—		37,922		—		37,922
Operating earnings (loss)		220,746		25,116		(83,883)		161,979

(1)	Included in net sales in the Brand Portfolio segment and eliminated in the Eliminations and Other category.

The Eliminations and Other category includes corporate assets, administrative expenses and other costs and recoveries, which are not allocated to the operating segments, as well as the elimination of intersegment sales and profit.

Following is a reconciliation of operating earnings to earnings before income taxes:


	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
($ thousands)	October 29, 2022		October 30, 2021		October 29, 2022		October 30, 2021
Operating earnings	$	53,847	$	81,318	$	188,462	$	161,979
Interest expense, net		(4,003)		(5,069)		(8,886)		(28,803)
Loss on early extinguishment of debt		—		(649)		—		(649)
Other income, net		2,997		3,844		9,636		11,533
Earnings before income taxes	$	52,841	$	79,444	$	189,212	$	144,060

- 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

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+ Details