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Operating Group Information
12 Months Ended
Feb. 01, 2020
Operating Groups  
Operating Groups

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 is primarily operated through our Tommy Bahama, Lilly Pulitzer, Lanier Apparel and Southern Tide 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. Corporate and Other is a reconciling category for reporting purposes and includes our corporate offices, substantially all financing activities, the elimination of 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 the 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 and our Lyons, Georgia distribution center.

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

Fiscal

    

Fiscal

    

Fiscal

2019

    

2018

    

2017

Net sales

 

  

 

  

 

  

Tommy Bahama

$

676,652

$

675,358

$

686,021

Lilly Pulitzer

 

284,700

 

272,299

 

248,931

Lanier Apparel

 

97,251

 

100,471

 

106,852

Southern Tide

 

46,409

 

45,248

 

40,940

Corporate and Other

 

17,778

 

14,090

 

3,467

Consolidated net sales

$

1,122,790

$

1,107,466

$

1,086,211

Depreciation and amortization

 

  

 

  

 

  

Tommy Bahama

$

27,852

$

29,549

$

30,998

Lilly Pulitzer

 

10,106

 

10,605

 

9,021

Lanier Apparel

 

574

 

567

 

583

Southern Tide

 

549

 

528

 

441

Corporate and Other

 

1,206

 

1,241

 

1,359

Consolidated depreciation and amortization

$

40,287

$

42,490

$

42,402

Operating income (loss)

 

  

 

  

 

  

Tommy Bahama

$

53,207

$

53,139

$

55,002

Lilly Pulitzer

 

51,795

 

47,239

 

46,608

Lanier Apparel

 

1,465

 

5,057

 

6,546

Southern Tide

 

5,554

 

5,663

 

4,504

Corporate and Other

 

(18,346)

 

(20,506)

 

(26,660)

Consolidated operating income

 

93,675

 

90,592

 

86,000

Interest expense, net

 

1,245

 

2,283

 

3,109

Earnings before income taxes

$

92,430

$

88,309

$

82,891

(1)Corporate and Other included a LIFO accounting charge of $1 million, $1 million and $8 million in Fiscal 2019, Fiscal 2018 and Fiscal 2017, respectively.

    

Fiscal 2019

    

Fiscal 2018

    

Fiscal 2017

Purchases of Property and Equipment

 

  

 

  

 

  

Tommy Bahama

$

31,272

$

25,111

$

24,962

Lilly Pulitzer

 

4,273

 

10,777

 

11,150

Lanier Apparel

 

571

 

99

 

305

Southern Tide

 

289

 

149

 

1,138

Corporate and Other

 

1,016

 

907

 

1,193

Purchases of Property and Equipment

$

37,421

$

37,043

$

38,748

    

February 1,

    

February 2,

2020

2019

Total Assets

 

  

 

  

Tommy Bahama (1)

$

668,197

$

439,353

Lilly Pulitzer (1)

 

199,913

 

152,113

Lanier Apparel (1)

 

43,533

 

54,369

Southern Tide (1)

 

99,667

 

97,939

Corporate and Other (2)

 

22,059

 

(16,520)

Total Assets

$

1,033,369

$

727,254

(1)The increase in total assets for Tommy Bahama, Lilly Pulitzer and Southern Tide were primarily a result of the recognition of operating lease assets in Fiscal 2019 due to the adoption of the revised lease accounting guidance, while the decrease in Lanier Apparel was primarily due to lower inventories and receivables partially offset by operating lease assets.
(2)Total assets for Corporate and Other include LIFO reserves of $63 million and $62 million as of February 1, 2020 and February 2, 2019, respectively. The change in total assets for Corporate and Other from February 2, 2019 was primarily due to the increased cash as of February 1, 2020.

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, Australia and Japan.

    

February 1,

    

February 2,

2020

2019

Net Book Value of Property and Equipment

United States

$

187,032

$

186,426

Other foreign

 

4,485

 

6,150

$

191,517

$

192,576

    

Fiscal 2019

    

Fiscal 2018

    

Fiscal 2017

Net Sales

United States

$

1,086,170

$

1,067,235

$

1,048,619

Other foreign

 

36,620

 

40,231

 

37,592

$

1,122,790

$

1,107,466

$

1,086,211

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

Fiscal 2019

 

    

Net Sales

    

Retail

    

Ecommerce

    

Restaurant

    

Wholesale

    

Other

 

Tommy Bahama

$

676,652

 

48

%  

20

%  

12

%  

20

%  

%

Lilly Pulitzer

 

284,700

 

41

%  

38

%  

%  

21

%  

%

Lanier Apparel

 

97,251

 

%  

1

%  

%  

99

%  

%

Southern Tide

 

46,409

 

%  

21

%  

%  

79

%  

%

Corporate and Other

 

17,778

 

%  

60

%  

%  

32

%  

8

%

Consolidated net sales

$

1,122,790

 

39

%  

23

%  

8

%  

30

%  

%

    

Fiscal 2018

 

    

Net Sales

    

Retail

    

Ecommerce

    

Restaurant

    

Wholesale

    

Other

 

Tommy Bahama

$

675,358

 

48

%  

18

%  

13

%  

21

%  

%

Lilly Pulitzer

 

272,299

 

42

%  

36

%  

%  

22

%  

%

Lanier Apparel

 

100,471

 

%  

%  

%  

100

%  

%

Southern Tide

 

45,248

 

%  

18

%  

%  

82

%  

%

Corporate and Other

 

14,090

 

%  

54

%  

%  

30

%  

16

%

Consolidated net sales

$

1,107,466

 

40

%  

21

%  

8

%  

31

%  

%

Fiscal 2017

 

    

Net Sales

    

Retail

    

Ecommerce

    

Restaurant

    

Wholesale

    

Other

 

Tommy Bahama

$

686,021

 

49

%  

16

%  

12

%  

23

%  

%

Lilly Pulitzer

 

248,931

 

38

%  

34

%  

%  

28

%  

%

Lanier Apparel

 

106,852

 

%  

%  

%  

100

%  

%

Southern Tide

 

40,940

 

%  

19

%  

%  

81

%  

%

Corporate and Other

 

3,467

 

%  

23

%  

%  

16

%  

61

%

Consolidated net sales

$

1,086,211

 

39

%  

19

%  

8

%  

34

%  

%