Operating Segments (Tables)

12 Months Ended

Feb. 01, 2025

Schedule of financial information by operating group

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


	Fiscal 2024		Fiscal 2023		Fiscal 2022
Tommy Bahama
Net sales	$	869,604	$	898,807	$	880,233
Costs of goods sold	320,738		319,689		312,676
Gross profit	$	548,866	$	579,118	$	567,557
Operating costs:
Variable and distribution costs	53,491		53,475		50,279
Advertising costs	40,801		37,812		33,616
Employment costs	183,297		187,325		173,709
Occupancy costs	90,373		85,174		84,706
Depreciation and amortization	29,012		26,133		26,807
Other segment items (1)	34,625		28,656		25,679
Tommy Bahama operating income	$	117,267	$	160,543	$	172,761
Lilly Pulitzer
Net sales	$	323,917	$	343,499	$	339,266
Costs of goods sold	114,892		117,293		114,238
Gross profit	$	209,025	$	226,206	$	225,028
Operating costs:
Variable and distribution costs	19,328		19,993		19,742


Advertising costs	31,744		33,895		33,488
Employment costs	51,350		53,777		49,532
Occupancy costs	21,153		19,855		20,170
Depreciation and amortization	19,053		16,603		12,784
Other segment items (1)	27,302		25,973		22,214
Lilly Pulitzer operating income	$	39,095	$	56,110	$	67,098
Johnny Was (2)
Net sales	$	194,978	$	202,859	$	72,591
Costs of goods sold	67,884		65,292		27,826
Gross profit	$	127,094	$	137,567	$	44,765
Operating costs:
Variable and distribution costs	11,818		12,023		4,535
Advertising costs	26,743		24,795		8,716
Employment costs	38,927		35,847		12,834
Occupancy costs	22,627		20,814		7,191
Depreciation and amortization	16,292		18,794		7,192
Other segment items (1)	19,450		18,934		5,841
Impairment of goodwill and intangible assets	—		111,136		—
Johnny Was operating income	$	(8,763)	$	(104,776)	$	(1,544)
Emerging Brands
Net sales	$	128,428	$	126,825	$	116,484
Costs of goods sold	54,753		65,027		63,472
Gross profit	$	73,675	$	61,798	$	53,012
Operating costs:
Variable and distribution costs	9,902		10,096		7,996
Advertising costs	11,790		8,426		6,689
Employment costs	23,819		18,528		13,952
Occupancy costs	6,300		3,392		1,556
Depreciation and amortization	2,993		2,003		1,582
Other segment items (1)	11,972		10,164		5,635
Impairment of equity method investments	—		2,475		—
Emerging Brands operating income	$	6,899	$	6,714	$	15,602
Corporate
Net sales	$	(326)	$	(515)	$	2,954
Cost of goods sold (3)	3,763		8,589		4,461
Gross profit	$	(4,089)	$	(9,104)	$	(1,507)
Depreciation and amortization	522		533		663
Unallocated Corporate costs and income (4)	30,851		27,972		32,973
Corporate operating loss	$	(35,462)	$	(37,609)	$	(35,143)
Consolidated Operating income	$	119,036	$	80,982	$	218,774
Interest expense, net	2,468		6,036		3,049
Earnings before income taxes	$	116,568	$	74,946	$	215,725

(1)For all reporting units, other segment items primarily consists of software costs, professional services costs, and other selling, general, and administrative costs and royalties and other income.

(2)In Fiscal 2022, financial information for Johnny Was consists of 19 weeks from the September 19, 2022, acquisition date through January 28, 2023, only.

(3)Cost of goods sold for Corporate and Other included a LIFO accounting charge of $3 million, $10 million and $3 million in Fiscal 2024, Fiscal 2023 and Fiscal 2022, respectively.

(4)Unallocated Corporate costs for Corporate and Other primarily consists of unallocated employment and other overhead expenses. In Fiscal 2022, unallocated Corporate expenses included $3 million of transaction expenses and integration costs associated with the Johnny Was acquisition.

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


	Fiscal 2024		Fiscal 2023		Fiscal 2022
Purchases of Property and Equipment
Tommy Bahama	$	44,027	$	39,060	$	17,019
Lilly Pulitzer	6,178		24,100		23,990
Johnny Was(1)	3,475		6,105		1,655
Emerging Brands	11,125		3,768		3,176
Corporate and Other(2)	69,426		1,065		828
Purchases of Property and Equipment	$	134,231	$	74,098	$	46,668


	February 1, 2025		February 3, 2024
Total Assets
Tommy Bahama(3)	$	681,730	$	556,431
Lilly Pulitzer (4)	205,398		194,871
Johnny Was(1)	235,558		251,429
Emerging Brands (5)	121,574		98,816
Corporate and Other(2)	45,545		(3,703)
Total Assets	$	1,289,805	$	1,097,844

(1)The Fiscal 2024 decrease in Johnny Was total assets includes the amortization of acquired intangible assets and a decrease in inventories. The financial information for Johnny Was for Fiscal 2023 consists of 19 weeks from the September 19, 2022, acquisition date through January 28, 2023, only.

(2)The Fiscal 2024 increase in Corporate and Other purchase of property and equipment and total assets relates primarily to the new distribution center project in Lyons, Georgia.

(3)The Fiscal 2024 increase in Tommy Bahama total assets includes increases in operating lease assets, property plant and equipment, receivables and inventories.

(4)The Fiscal 2024 increase in Lilly Pulitzer total assets includes increases in inventories and the purchase of intangible assets.

(5)The Fiscal 2024 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. These increases were partially offset by a decrease in inventories.

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). The other foreign amounts primarily relate to our Tommy Bahama operations in Canada and Australia.


	February 1, 2025		February 3, 2024
Net Book Value of Property and Equipment
United States	$	268,996	$	192,329
Other foreign	3,694		2,808
	$	272,690	$	195,137

Schedule of net sales by geographic area


	Fiscal 2024		Fiscal 2023		Fiscal 2022
Net Sales
United States	$	1,477,294	$	1,532,100	$	1,372,278
Other foreign	39,307		39,375		39,250
	$	1,516,601	$	1,571,475	$	1,411,528

Schedule of net sales by operating group

The tables below quantify net sales, for each reportable segment, as well as Corporate and Other, and in total (in thousands), and the percentage of net sales by distribution channel for each operating segment 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 2024
	Net Sales		Retail		E‑commerce		Food and Beverage		Wholesale		Other
Tommy Bahama	$	869,604	45	%	26	%	13	%	16	%	—	%
Lilly Pulitzer	323,917		35	%	48	%	—	%	17	%	—	%
Johnny Was	194,978		38	%	43	%	—	%	19	%	—	%
Emerging Brands	128,428		17	%	44	%	—	%	39	%	—	%
Corporate and Other	(326)		—	%	—	%	—	%	—	%	NM %
Consolidated net sales	$	1,516,601	39	%	34	%	8	%	19	%	—	%


	Fiscal 2023
	Net Sales		Retail		E‑commerce		Food and Beverage		Wholesale		Other
Tommy Bahama	$	898,807	45	%	25	%	13	%	17	%	—	%
Lilly Pulitzer	343,499		33	%	51	%	—	%	16	%	—	%
Johnny Was (1)	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 and Beverage		Wholesale		Other
Tommy Bahama	$	880,233	46	%	24	%	13	%	17	%	—	%
Lilly Pulitzer	339,266		33	%	51	%	—	%	16	%	—	%
Johnny Was	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	%	—	%