Revenue Recognition

6 Months Ended

Feb. 01, 2020

Contract liabilities

The contract liabilities representing unearned revenue for our continuing operations are as follows:



	February 1, 2020		August 3, 2019		February 2, 2019		August 4, 2018 ^(a)
	(millions)
Deferred revenue - gift card liability	$	92.0	$	79.7	$	92.7	$	72.4
Deferred revenue - loyalty programs	24.5		22.1		25.3		26.3

________

^(a)After adjusting for the impact of adopting ASU 2014-09.

For the three and six months ended February 1, 2020, the Company recognized revenue of approximately $20 million and $32 million, respectively, associated with gift card redemptions and gift card breakage. Of these amounts, approximately $5 million and $6 million, respectively, were recorded within Income from discontinued operations. For the three and six months ended February 2, 2019, the company recognized revenue of approximately $19 million and $29 million, respectively, associated with gift card redemptions and gift card breakage. Of these amounts, approximately $5 million and $9 million, respectively, were recorded within Income from discontinued operations.

For the three and six months ended February 1, 2020, the Company recognized revenue of approximately $10 million and $22 million, respectively, associated with reward redemptions and breakage related to the Company’s loyalty programs. Of these amounts, approximately $0 million and $5 million, respectively, were recorded within Income from discontinued operations. For the three and six months ended February 2, 2019, the Company recognized revenue of approximately $20 million and $25 million, respectively, associated with reward redemptions and breakage related to the Company’s loyalty programs. Of these amounts, approximately $7 million and $8 million, respectively, were recorded within Income from discontinued operations.

The Company’s revenues by major product categories as a percentage of total net sales are as follows:



	Three Months Ended				Six Months Ended
	February 1, 2020		February 2, 2019		February 1, 2020		February 2, 2019
Apparel	80	%	77	%	82	%	81	%
Accessories	15	%	17	%	13	%	14	%
Other	5	%	6	%	5	%	5	%
Total net sales	100	%	100	%	100	%	100	%