Business Segment Information

6 Months Ended

Jul. 29, 2023

Business Segment Information

Business Segment Information

Note 6    Business Segment Information

Following is a summary of certain key financial measures for the Company’s business segments for the periods ended July 29, 2023 and July 30, 2022:

	Famous		Brand		Eliminations
($ thousands)	Footwear		Portfolio		and Other		Total
Thirteen Weeks Ended July 29, 2023
Net sales	$	414,238	$	300,873	$	(19,578)	$	695,533
Intersegment sales (1)		—		19,578		—		19,578
Operating earnings (loss)		40,630		26,828		(17,755)		49,703
Segment assets		881,483		861,782		160,695		1,903,960
Thirteen Weeks Ended July 30, 2022
Net sales	$	436,375	$	324,060	$	(22,105)	$	738,330
Intersegment sales (1)		—		22,105		—		22,105
Operating earnings (loss)		62,496		29,410		(23,486)		68,420
Segment assets		882,303		992,238		150,667		2,025,208
Twenty-Six Weeks Ended July 29, 2023
Net sales	$	763,396	$	626,389	$	(31,518)	$	1,358,267
Intersegment sales (1)		—		31,518		—		31,518
Operating earnings (loss)		57,686		69,497		(27,893)		99,290
Twenty-Six Weeks Ended July 30, 2022
Net sales	$	820,877	$	689,800	$	(37,232)	$	1,473,445
Intersegment sales (1)		—		37,232		—		37,232
Operating earnings (loss)		112,184		70,760		(48,329)		134,615

(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				Twenty-Six Weeks Ended
($ thousands)	July 29, 2023		July 30, 2022		July 29, 2023		July 30, 2022
Operating earnings	$	49,703	$	68,420	$	99,290	$	134,615
Interest expense, net		(5,128)		(2,584)		(10,751)		(4,883)
Other income, net		1,616		3,217		3,108		6,639
Earnings before income taxes	$	46,191	$	69,053	$	91,647	$	136,371