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Operating Groups (Tables)

12 Months Ended

Feb. 03, 2024

Operating Groups

Schedule of financial information by operating group

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


		Fiscal			Fiscal			Fiscal
		2023			2022			2021
Net sales
Tommy Bahama		$	898,807		$	880,233		$	724,305
Lilly Pulitzer			343,499			339,266			298,995
Johnny Was ⁽¹⁾			202,859			72,591			—
Emerging Brands			126,825			116,484			90,053
Lanier Apparel ⁽²⁾			—			—			24,858
Corporate and Other			(515)			2,954			3,868
Consolidated net sales		$	1,571,475		$	1,411,528		$	1,142,079

Depreciation and amortization
Tommy Bahama		$	26,133		$	26,807		$	27,830
Lilly Pulitzer			16,603			12,784			11,678
Johnny Was ⁽¹⁾			18,794			7,199			—
Emerging Brands			2,003			1,582			1,298
Lanier Apparel ⁽²⁾			—			—			107
Corporate and Other			533			663			685
Consolidated depreciation and amortization		$	64,066		$	49,035		$	41,598

Operating income (loss)
Tommy Bahama		$	160,543		$	172,761		$	111,733
Lilly Pulitzer			56,110			67,098			63,601
Johnny Was ⁽¹⁾			(104,776)			(1,544)			—
Emerging Brands ⁽³⁾			6,714			15,602			16,649
Lanier Apparel ⁽²⁾			—			—			4,888
Corporate and Other ⁽⁴⁾			(37,609)			(35,143)			(31,368)
Consolidated operating income			80,982			218,774			165,503
Interest expense, net			6,036			3,049			944
Earnings before income taxes		$	74,946		$	215,725		$	164,559

(1)

In Fiscal 2023, the operating loss for Johnny Was resulted from a $111 million impairment charge for goodwill and intangible assets with no such charges in Fiscal 2022. Financial information for Fiscal 2022 consists of 19 weeks from the September 19, 2022, acquisition date through January 28, 2023, only.

(2)	In Fiscal 2021, we exited our Lanier Apparel business, which is discussed in more detail in Note 12.

(3)	The operating income for Emerging Brands in Fiscal 2023 included a $2 million impairment charge related to an unconsolidated entity.

(4)

The operating loss for Corporate and Other included a LIFO accounting charge of $10 million, $3 million and $16 million in Fiscal 2023, Fiscal 2022 and Fiscal 2021, respectively. The operating loss for Corporate and Other in Fiscal 2022 also included $3 million of transaction expenses and integration costs associated with the Johnny Was acquisition. Fiscal 2021 also included a gain on sale of an unconsolidated entity of $12 million, respectively.


		Fiscal 2023			Fiscal 2022			Fiscal 2021
Purchases of Property and Equipment
Tommy Bahama		$	39,060		$	17,019		$	12,887
Lilly Pulitzer			24,100			23,990			17,305
Johnny Was⁽¹⁾			6,105			1,655			—
Emerging Brands			3,768			3,176			1,405
Lanier Apparel⁽²⁾			—			—			5
Corporate and Other			1,065			828			292
Purchases of Property and Equipment		$	74,098		$	46,668		$	31,894


		February 3,			January 28,
		2024			2023
Total Assets
Tommy Bahama⁽³⁾		$	556,431		$	569,833
Lilly Pulitzer ⁽⁴⁾			194,871			211,119
Johnny Was⁽¹⁾			251,429			334,603
Emerging Brands ⁽⁵⁾			98,816			91,306
Corporate and Other⁽⁶⁾			(3,703)			(18,196)
Total Assets		$	1,097,844		$	1,188,665

(1)

The financial information for Johnny Was for Fiscal 2022 consists of 19 weeks from the September 19, 2022, acquisition date through January 28, 2023, only. The decrease in Johnny Was total assets during Fiscal 2023 relates primarily to the $111 million impairment charge for goodwill and intangible assets.

(2)	Lanier Apparel was exited during Fiscal 2021.

(3)	Increase in Tommy Bahama total assets includes increases in receivables, operating lease assets and property plant and equipment partially offset by reductions in inventories.

(4)	Decrease in Lilly Pulitzer total assets includes reductions in inventories partially offset by increases in receivables.

(5)

Increase in Emerging Brands total assets includes increases in operating lease assets and property plant and equipment from the opening of new retail store locations. Goodwill and intangible assets also increased related to the current year acquisition of Jack Rogers and six former Southern Tide Signature Stores. These increase were partially offset by reductions in inventories.

(6)	Decrease in Corporate and Other total assets includes reductions in inventories, primarily due to the impact of LIFO accounting.

Schedule of net book value of property and equipment by geographic area

Net book value of our property and equipment and net sales by geographic area are presented in the tables below (in thousands).


		February 3,			January 28,
		2024			2023
Net Book Value of Property and Equipment
United States		$	192,329		$	174,044
Other foreign			2,808			3,540
		$	195,137		$	177,584

Schedule of net sales by geographic area

Net book value of our property and equipment and net sales by geographic area are presented in the tables below (in thousands).


		Fiscal 2023			Fiscal 2022			Fiscal 2021
Net Sales
United States		$	1,532,100		$	1,372,278		$	1,112,384
Other foreign			39,375			39,250			29,695
		$	1,571,475		$	1,411,528		$	1,142,079

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, except that the amounts included for Johnny Was in Fiscal 2022 represent the post-acquisition period only. We have calculated all percentages below based on actual data, and percentages may not add to 100 due to rounding.


		Fiscal 2023
		Net Sales			Retail		E‑commerce		Food & Beverage		Wholesale		Other
Tommy Bahama		$	898,807		45	%	25	%	13	%	17	%	—	%
Lilly Pulitzer			343,499		33	%	51	%	—	%	16	%	—	%
Johnny Was			202,859		38	%	41	%	—	%	21	%	—	%
Emerging Brands			126,825		11	%	43	%	—	%	46	%	—	%
Corporate and Other			(515)		—	%	—	%	—	%	—	%	NM	%
Consolidated net sales		$	1,571,475		39	%	34	%	7	%	20	%	—	%


		Fiscal 2022
		Net Sales			Retail		E‑commerce		Food & Beverage		Wholesale		Other
Tommy Bahama		$	880,233		46	%	24	%	13	%	17	%	—	%
Lilly Pulitzer			339,266		33	%	51	%	—	%	16	%	—	%
Johnny Was ⁽¹⁾			72,591		36	%	42	%	—	%	22	%	—	%
Emerging Brands			116,484		6	%	42	%	—	%	52	%	—	%
Corporate and Other			2,954		—	%	—	%	—	%	—	%	NM	%
Consolidated net sales		$	1,411,528		39	%	33	%	8	%	20	%	—	%


		Fiscal 2021
		Net Sales			Retail		E‑commerce		Food & Beverage		Wholesale		Other
Tommy Bahama		$	724,305		47	%	25	%	13	%	15	%	—	%
Lilly Pulitzer			298,995		34	%	50	%	—	%	16	%	—	%
Johnny Was			—		—	%	—	%	—	%	—	%	—	%
Emerging Brands			90,053		5	%	39	%	—	%	56	%	—	%
Lanier Apparel			24,858		—	%	—	%	—	%	100	%	—	%
Corporate and Other			3,868		—	%	—	%	—	%	61	%	39	%
Consolidated net sales		$	1,142,079		39	%	32	%	8	%	20	%	—	%