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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Feb. 01, 2020
Feb. 02, 2019
Feb. 01, 2020
Feb. 02, 2019
Income Statement [Abstract]        
Net sales $ 1,216.9 $ 1,271.4 $ 2,336.5 $ 2,418.8
Cost of goods sold (581.7) (611.6) (1,037.2) (1,067.0)
Gross margin 635.2 659.8 1,299.3 1,351.8
Other operating expenses:        
Buying, distribution and occupancy expenses (219.8) (245.0) (444.4) (480.2)
Selling, general and administrative expenses (381.5) (393.8) (735.5) (770.8)
Restructuring and other related charges [1] 0.5 [2] (13.5) [2] (3.3) (21.4)
Impairment of goodwill [1] (63.4) 0.0 (63.4) 0.0
Impairment of Intangible Assets (Excluding Goodwill) [1] (46.9) 0.0 (46.9) 0.0
Depreciation and amortization expense (64.4) (71.4) (131.6) (142.0)
Total other operating expenses (775.5) (723.7) (1,425.1) (1,414.4)
Operating loss [1] (140.3) (63.9) (125.8) (62.6)
Interest expense (25.3) (26.9) (51.7) (52.9)
Interest income and other income, net 1.8 1.2 3.3 1.8
Gain on Extinguishment of Debt 28.5 0.0 28.5 0.0
Loss from continuing operations before (provision) benefit for income taxes and income from equity method investment (135.3) (89.6) (145.7) (113.7)
(Provision) benefit for income taxes from continuing operations (0.9) 8.6 (3.5) 9.4
Income from Equity Method Investments 4.3 0.0 23.3 0.0
Loss from continuing operations (131.9) (81.0) (125.9) (104.3)
Income from discontinued operations, net of tax [3] 34.5 9.5 60.2 38.7
Net loss $ (97.4) (71.5) $ (65.7) (65.6)
Discontinued Operation, Tax Effect of Income (Loss) from Discontinued Operation During Phase-out Period   $ 2.6   $ 11.2
Net (loss) income per common share - basic:        
Continuing operations (in dollars per share) $ (13.22) $ (8.20) $ (12.64) $ (10.58)
Discontinued operations (in dollars per share) 3.46 0.96 6.04 3.92
Total net loss per basic common share (in dollars per share) (9.76) (7.24) (6.60) (6.66)
Net (loss) income per common share - diluted:        
Continuing operations (in dollars per share) (13.22) (8.20) (12.64) (10.58)
Discontinued operations (in dollars per share) 3.46 0.96 6.04 3.92
Total net loss per diluted common share (in dollars per share) $ (9.76) $ (7.24) $ (6.60) $ (6.66)
Weighted average common shares outstanding:        
Basic (in shares) 9,975,000 9,874,000 9,957,000 9,856,000
Diluted (in shares) 9,975,000 9,874,000 9,957,000 9,856,000
[1] For the three and six months ended February 1, 2020 and February 2, 2019, respectively, the maurices and Dressbarn businesses were classified as discontinued operations within the condensed consolidated financial statements. As a result, shared expenses of $18.3 million for the six months ended February 1, 2020, as well as $45.6 million and $89.4 million for the three and six months ended February 2, 2019, which were previously allocated to maurices and Dressbarn have been reallocated to the remaining operating units.
[2] Restructuring and other related charges are as follows: Three Months Ended Six Months Ended February 1, 2020 February 2, 2019 February 1, 2020 February 2, 2019 (millions) (millions)Cash related charges (i): Severance and benefit costs: Premium Fashion$— $0.2 $(0.4) $0.2 Plus Fashion(0.2) 0.1 (0.5) 0.1 Kids Fashion— 0.1 (0.1) — Corporate(0.7) (0.1) 3.9 (0.5)Total severance and benefit costs(0.9) 0.3 2.9 (0.2)Professional fees and other related charges: Plus Fashion— — — (0.1)Corporate0.4 13.2 0.4 21.7Total professional fees and other related charges0.4 13.2 0.4 21.6Total restructuring and other related charges$(0.5) $13.5$3.3 $21.4 (i) The charges incurred under the Company’s cost reduction initiatives are more fully described in Note 8.
[3] Income from discontinued operations is presented net of income tax expense of $2.6 million and $11.2 million for the three and six months ended February 2, 2019, respectively.