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Operating Groups (Tables)

6 Months Ended

Jul. 29, 2023

Operating Groups

Schedule of financial information by operating group

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


		Second Quarter						First Half
		Fiscal 2023			Fiscal 2022			Fiscal 2023			Fiscal 2022
Net sales
Tommy Bahama		$	245,443		$	243,965		$	484,878		$	472,032
Lilly Pulitzer			91,349			88,665			188,799			180,710
Johnny Was ⁽¹⁾			52,023			—			101,514			—
Emerging Brands			31,580			29,913			65,571			61,676
Corporate and Other			(76)			887			(346)			1,593
Consolidated net sales		$	420,319		$	363,430		$	840,416		$	716,011

Depreciation and amortization
Tommy Bahama		$	6,073		$	6,916		$	12,057		$	13,534
Lilly Pulitzer			3,979			3,121			7,371			6,096
Johnny Was ⁽¹⁾			4,717			—			9,909			—
Emerging Brands			460			393			885			752
Corporate and Other			58			192			237			430
Consolidated depreciation and amortization		$	15,287		$	10,622		$	30,459		$	20,812

Operating income (loss)
Tommy Bahama		$	51,037		$	58,918		$	106,558		$	111,524
Lilly Pulitzer			18,566			21,492			43,082			47,670
Johnny Was ⁽¹⁾			3,847			—			6,331			—
Emerging Brands			3,028			3,991			6,941			11,727
Corporate and Other			(8,804)			(9,030)			(14,937)			(19,572)
Consolidated operating income			67,674			75,371		$	147,975		$	151,349
Interest expense, net			1,297			274			3,639			516
Earnings before income taxes		$	66,377		$	75,097		$	144,336		$	150,833


		July 29, 2023			January 28, 2023			July 30, 2022
Assets
Tommy Bahama ⁽²⁾		$	548,893		$	569,833		$	524,765
Lilly Pulitzer ⁽³⁾			201,310			211,119			198,681
Johnny Was ⁽¹⁾			330,503			334,603			—
Emerging Brands ⁽⁴⁾			92,675			91,306			76,368
Corporate and Other⁽⁵⁾			(23,523)			(18,196)			157,388
Consolidated Total Assets		$	1,149,858		$	1,188,665		$	957,202

(1)	The Johnny Was business was acquired on September 19, 2022.

(2)	Increase in Tommy Bahama total assets from July 30, 2022, includes increases in operating lease assets and inventories.

(3)	Increase in Lilly Pulitzer total assets from July 30, 2022, includes increases in property and equipment partially offset by decreases in operating lease assets.

(4)	Increase in Emerging Brands total assets from July 30, 2022, includes increases in operating lease assets, inventories, property and equipment and other non-current assets.

(5)	Decrease in Corporate and Other total assets from July 30, 2022, includes reductions in short-term investments and cash and cash equivalents, which were used to fund a portion of the acquisition purchase price for Johnny Was.

Schedule of net sales by operating group

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. We have calculated all percentages below based on actual data, and percentages may not add to 100 due to rounding.


		Second Quarter Fiscal 2023
		Net Sales			Retail		E-commerce		Food & Beverage		Wholesale		Other
Tommy Bahama		$	245,443		46	%	28	%	12	%	14	%	—	%
Lilly Pulitzer			91,349		36	%	50	%	—	%	14	%	—	%
Johnny Was			52,023		38	%	43	%	—	%	19	%	—	%
Emerging Brands			31,580		12	%	48	%	—	%	40	%	—	%
Corporate and Other			(76)		—	%	—	%	—	%	—	%	NM	%
Total		$	420,319		41	%	36	%	7	%	16	%	—	%


		Second Quarter Fiscal 2022
		Net Sales			Retail		E-commerce		Food & Beverage		Wholesale		Other
Tommy Bahama		$	243,965		48	%	28	%	11	%	13	%	—	%
Lilly Pulitzer			88,665		40	%	43	%	—	%	17	%	—	%
Johnny Was ⁽¹⁾			—		—	%	—	%	—		—	%	—	%
Emerging Brands			29,913		7	%	46	%	—	%	47	%	—	%
Corporate and Other			887		—	%	—	%	—	%	—	%	NM	%
Total		$	363,430		42	%	33	%	8	%	17	%	—	%


		First Half 2023
		Net Sales			Retail		E‑commerce		Food & Beverage		Wholesale		Other
Tommy Bahama		$	484,878		45	%	24	%	13	%	18	%	—	%
Lilly Pulitzer			188,799		35	%	49	%	—	%	16	%	—	%
Johnny Was			101,514		37	%	40	%	—	%	23	%	—	%
Emerging Brands			65,571		10	%	42	%	—	%	48	%	—	%
Corporate and Other			(346)		—	%	—	%	—	%	—	%	NM	%
Consolidated net sales		$	840,416		39	%	33	%	7	%	21	%	—	%


		First Half 2022
		Net Sales			Retail		E‑commerce		Food & Beverage		Wholesale		Other
Tommy Bahama		$	472,032		47	%	24	%	12	%	17	%	—	%
Lilly Pulitzer			180,710		37	%	43	%	—	%	20	%	—	%
Johnny Was ⁽¹⁾			—		—	%	—	%	—	%	—	%	—	%
Emerging Brands			61,676		6	%	38	%	—	%	56	%	—	%
Corporate and Other			1,593		—	%	—	%	—	%	—	%	NM	%
Consolidated net sales		$	716,011		41	%	30	%	8	%	21	%	—	%

(1)	The Johnny Was business was acquired on September 19, 2022.