Operating Group Information

12 Months Ended

Jan. 30, 2021

Operating Group Information

Operating Group Information

Note 2. Operating Groups

We identify our operating groups based on the way our management organizes the components of our business for purposes of allocating resources and assessing performance. Our operating group structure reflects a brand-focused management approach, emphasizing operational coordination and resource allocation across each brand’s direct to consumer, wholesale and licensing operations, as applicable. Our business has historically been operated through our Tommy Bahama, Lilly Pulitzer, Southern Tide and Lanier Apparel operating groups.

Tommy Bahama, Lilly Pulitzer and Southern Tide each design, source, market and distribute apparel and related products bearing their respective trademarks and license their trademarks for other product categories, while Lanier Apparel designs, sources and distributes branded and private label men’s tailored clothing, sportswear and other

products. In Fiscal 2020, we made the decision to exit our Lanier Apparel business, which is expected to be completed during the second half of Fiscal 2021. Corporate and Other is a reconciling category for reporting purposes and includes our corporate offices, substantially all financing activities, the elimination of any inter-segment sales and any other items that are not allocated to the operating groups including LIFO inventory accounting adjustments. Because our LIFO inventory pool does not correspond to our operating group definitions, LIFO inventory accounting adjustments are not allocated to operating groups. Corporate and Other also includes the operations of other businesses which are not included in our operating groups, including the operations of TBBC, Duck Head and our Lyons, Georgia distribution center. As a result of certain organizational and management reporting changes in Fiscal 2020, our Duck Head operations, which were previously included in Lanier Apparel, are considered part of and included in Corporate and Other. All prior period amounts for Lanier Apparel and Corporate and Other have been restated to conform to the presentation in the current period.

The tables below present certain financial information (in thousands) about our operating groups, as well as Corporate and Other.

	Fiscal		Fiscal		Fiscal
	2020		2019		2018
Net sales
Tommy Bahama	$	419,817	$	676,652	$	675,358
Lilly Pulitzer		231,078		284,700		272,299
Southern Tide		34,664		46,409		45,248
Lanier Apparel		38,796		95,200		99,904
Corporate and Other		24,478		19,829		14,657
Consolidated net sales	$	748,833	$	1,122,790	$	1,107,466
Depreciation and amortization
Tommy Bahama	$	46,698	$	27,852	$	29,549
Lilly Pulitzer		9,965		10,106		10,605
Southern Tide		676		549		528
Lanier Apparel		1,239		422		415
Corporate and Other		1,336		1,358		1,393
Consolidated depreciation and amortization	$	59,914	$	40,287	$	42,490
Operating income (loss)
Tommy Bahama	$	(53,310)	$	53,207	$	53,139
Lilly Pulitzer		27,702		51,795		47,239
Southern Tide (1)		(64,801)		5,554		5,663
Lanier Apparel		(26,654)		1,953		6,000
Corporate and Other (2)		(6,786)		(18,834)		(21,449)
Consolidated operating (loss) income		(123,849)		93,675		90,592
Interest expense, net		2,028		1,245		2,283
(Loss) earnings before income taxes	$	(125,877)	$	92,430	$	88,309

(1) Southern Tide included a $60 million impairment charge for goodwill and intangible assets in Fiscal 2020, with no such charges in Fiscal 2019 or Fiscal 2018.

(2) Corporate and Other included a LIFO accounting credit of $9 million, charge of $1 million and charge of $1 million in Fiscal 2020, Fiscal 2019 and Fiscal 2018, respectively.

	Fiscal 2020		Fiscal 2019		Fiscal 2018
Purchases of Property and Equipment
Tommy Bahama	$	19,666	$	31,272	$	25,111
Lilly Pulitzer		7,059		4,273		10,777
Southern Tide		1,423		289		149
Lanier Apparel		21		571		99
Corporate and Other		755		1,016		907
Purchases of Property and Equipment	$	28,924	$	37,421	$	37,043

	January 30,		February 1,
	2021		2020
Total Assets
Tommy Bahama (1)	$	569,854	$	668,197
Lilly Pulitzer (2)		176,467		199,913
Southern Tide (3)		31,641		99,667
Lanier Apparel (4)		10,967		39,207
Corporate and Other (5)		76,705		26,385
Total Assets	$	865,634	$	1,033,369

(1) Decrease in Tommy Bahama total assets includes reductions in operating lease assets, property and equipment, inventories and receivables.

(2) Decrease in Lilly Pulitzer total assets includes reductions in operating lease assets, receivables, inventories and property and equipment.

(3) Decrease in Southern Tide total assets was primarily due to the $60 million impairment charge for goodwill and intangible assets in the First Quarter of Fiscal 2020, as well as reductions in inventories and receivables.

(4) Decrease in Lanier Apparel total assets includes reductions in inventories, receivables, operating lease assets, prepaid expenses and property and equipment.

(5) Increase in Corporate and Other total assets includes increased income tax receivable, cash, inventories due to the reversal of inventory markdowns as part of LIFO accounting and investments in unconsolidated entities.

Net book value of our property and equipment and net sales by geographic area are presented in the tables below (in thousands). The other foreign amounts primarily relate to our Tommy Bahama operations in Canada and Australia.

	January 30,		February 1,
	2021		2020
Net Book Value of Property and Equipment
United States	$	155,902	$	187,032
Other foreign		3,830		4,485
	$	159,732	$	191,517

	Fiscal 2020		Fiscal 2019		Fiscal 2018
Net Sales
United States	$	728,308	$	1,086,170	$	1,067,235
Other foreign		20,525		36,620		40,231
	$	748,833	$	1,122,790	$	1,107,466

The tables below quantify net sales, for each operating group and in total (in thousands), and the percentage of net sales by distribution channel for each operating group and in total, for each period presented.

	Fiscal 2020
	Net Sales		Retail		E‑commerce		Restaurant		Wholesale		Other
Tommy Bahama	$	419,817	37	%	36	%	11	%	16	%	—	%
Lilly Pulitzer		231,078	20	%	64	%	—	%	16	%	—	%
Southern Tide		34,664	4	%	32	%	—	%	64	%	—	%
Lanier Apparel		38,796	—	%	—	%	—	%	100	%	—	%
Corporate and Other		24,478	—	%	63	%	—	%	33	%	4	%
Consolidated net sales	$	748,833	27	%	43	%	7	%	23	%	—	%

	Fiscal 2019
	Net Sales		Retail		E‑commerce		Restaurant		Wholesale		Other
Tommy Bahama	$	676,652	48	%	20	%	12	%	20	%	—	%
Lilly Pulitzer		284,700	41	%	38	%	—	%	21	%	—	%
Southern Tide		46,409	—	%	21	%	—	%	79	%	—	%
Lanier Apparel		95,200	—	%	—	%	—	%	100	%	—	%
Corporate and Other		19,829	—	%	59	%	—	%	34	%	7	%
Consolidated net sales	$	1,122,790	39	%	23	%	8	%	30	%	—	%

	Fiscal 2018
	Net Sales		Retail		E‑commerce		Restaurant		Wholesale		Other
Tommy Bahama	$	675,358	48	%	18	%	13	%	21	%	—	%
Lilly Pulitzer		272,299	42	%	36	%	—	%	22	%	—	%
Southern Tide		45,248	—	%	18	%	—	%	82	%	—	%
Lanier Apparel		99,904	—	%	—	%	—	%	100	%	—	%
Corporate and Other		14,657	—	%	54	%	—	%	30	%	16	%
Consolidated net sales	$	1,107,466	40	%	21	%	8	%	31	%	—	%