Business Segment Information

9 Months Ended

Oct. 28, 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 October 28, 2023 and October 29, 2022:

	Famous		Brand		Eliminations
($ thousands)	Footwear		Portfolio		and Other		Total
Thirteen Weeks Ended October 28, 2023
Net sales	$	449,773	$	320,775	$	(8,644)	$	761,904
Intersegment sales (1)		—		8,644		—		8,644
Operating earnings (loss)		46,600		38,211		(20,393)		64,418
Segment assets		828,691		834,645		163,557		1,826,893
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
Thirty-Nine Weeks Ended October 28, 2023
Net sales	$	1,213,169	$	947,164	$	(40,162)	$	2,120,171
Intersegment sales (1)		—		40,162		—		40,162
Operating earnings (loss)		104,286		107,708		(48,286)		163,708
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

(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 28, 2023		October 29, 2022		October 28, 2023		October 29, 2022
Operating earnings	$	64,418	$	53,847	$	163,708	$	188,462
Interest expense, net		(4,488)		(4,003)		(15,240)		(8,886)
Other income, net		1,552		2,997		4,660		9,636
Earnings before income taxes	$	61,482	$	52,841	$	153,128	$	189,212