Operating Group Information

6 Months Ended

Aug. 03, 2024

Segment Reporting [Abstract]

Operating Group Information

Operating Group Information: We identify our operating groups based on the way our management organizes the components of our business for the 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 is organized as our Tommy Bahama, Lilly Pulitzer, Johnny Was and Emerging Brands operating groups.

Corporate and Other is a reconciling category for reporting purposes and includes our corporate offices, substantially all financing activities, the elimination of any sales between operating groups and any other items that are not allocated to the operating groups, including LIFO inventory accounting adjustments. The accounting policies of the reportable operating segments are the same as those described in our Fiscal 2023 Form 10-K.

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

	Second Quarter				First Half
	Fiscal 2024		Fiscal 2023		Fiscal 2024		Fiscal 2023
Net sales
Tommy Bahama	$	245,079	$	245,443	$	470,696	$	484,878
Lilly Pulitzer	91,689		91,349		180,110		188,799
Johnny Was	50,280		52,023		101,492		101,514
Emerging Brands	32,929		31,580		65,931		65,571
Corporate and Other	(91)		(76)		(159)		(346)
Consolidated net sales	$	419,886	$	420,319	$	818,070	$	840,416
Depreciation and amortization
Tommy Bahama	$	7,004	$	6,073	$	14,197	$	12,057
Lilly Pulitzer	4,724		3,979		9,318		7,371
Johnny Was	4,037		4,717		8,043		9,909
Emerging Brands	663		460		1,277		885
Corporate and Other	122		58		256		237
Consolidated depreciation and amortization	$	16,550	$	15,287	$	33,091	$	30,459
Operating income (loss)
Tommy Bahama	$	40,935	$	51,037	$	83,574	$	106,558
Lilly Pulitzer	16,927		18,566		32,471		43,082
Johnny Was	(1,656)		3,847		(1,323)		6,331
Emerging Brands	2,813		3,028		6,611		6,941
Corporate and Other	(6,509)		(8,804)		(16,372)		(14,937)
Consolidated operating income	$	52,510	$	67,674	$	104,961	$	147,975
Interest expense, net	89		1,297		963		3,639
Earnings before income taxes	$	52,421	$	66,377	$	103,998	$	144,336

	August 3, 2024		February 3, 2024		July 29, 2023
Assets
Tommy Bahama (1)	$	586,068	$	556,431	$	548,893
Lilly Pulitzer (2)	198,507		194,871		201,310
Johnny Was (3)	244,361		251,429		330,503
Emerging Brands (4)	111,946		98,816		92,675
Corporate and Other (5)	31,640		(3,703)		(23,523)
Consolidated Total Assets	$	1,172,522	$	1,097,844	$	1,149,858

(1)Increase in Tommy Bahama total assets from July 29, 2023, relates primarily to an increase in operating lease assets and property and equipment partially offset by decreases in inventories.

(2)Decrease in Lilly Pulitzer total assets from July 29, 2023, relates primarily to a decrease in inventories.

(3)Decrease in Johnny Was total assets from July 29, 2023, relates primarily to the impairment charges for goodwill and intangible assets recorded in the Fourth Quarter of Fiscal 2023.

(4)Increase in Emerging Brands total assets from July 29, 2023, includes increases in operating lease assets and property and equipment from the opening of new retail store locations.

(5)Increase in Corporate and Other total assets from July 29, 2023, relates primarily due to the new distribution center project in Lyons, Georgia.

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 2024
	Net Sales		Retail	E-commerce	Food & Beverage	Wholesale	Other
Tommy Bahama	$	245,079	45%	29%	12%	14%	—%
Lilly Pulitzer	91,689		39%	44%	—%	17%	—%
Johnny Was	50,280		40%	45%	—%	15%	—%
Emerging Brands	32,929		20%	53%	—%	27%	—%
Corporate and Other	(91)		—%	—%	—%	—%	NM %
Total	$	419,886	41%	36%	7%	16%	—%

	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%	—%

	First Half Fiscal 2024
	Net Sales		Retail	E-commerce	Food & Beverage	Wholesale	Other
Tommy Bahama	$	470,696	45%	25%	14%	16%	—%
Lilly Pulitzer	180,110		37%	45%	—%	18%	—%
Johnny Was	101,492		39%	42%	—%	19%	—%
Emerging Brands	65,931		17%	45%	—%	38%	—%
Corporate and Other	(159)		—%	—%	—%	—%	NM %
Total	$	818,070	40%	33%	8%	19%	—%

	First Half Fiscal 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 %
Total	$	840,416	39%	33%	7%	21%	—%