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Revenue (Tables)
9 Months Ended
Oct. 27, 2023
Revenue from Contract with Customer [Abstract]  
Disaggregated of Revenue by Geographic Location

The Company’s revenue is disaggregated by distribution channel and geographic location. Revenue by distribution channel is presented in Note 13, Segment Reporting. Revenue by geographic location was:

 

 

 

13 Weeks Ended

 

 

39 Weeks Ended

 

(in thousands)

 

October 27, 2023

 

 

October 28, 2022

 

 

October 27, 2023

 

 

October 28, 2022

 

Net revenue:

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

$

294,103

 

 

$

327,780

 

 

$

871,160

 

 

$

893,205

 

Europe

 

 

26,693

 

 

 

28,946

 

 

 

75,875

 

 

 

94,386

 

Asia (1)

 

 

119

 

 

 

9,620

 

 

 

405

 

 

 

26,059

 

Other

 

 

3,820

 

 

 

4,637

 

 

 

10,216

 

 

 

12,176

 

Total Net revenue

 

$

324,735

 

 

$

370,983

 

 

$

957,656

 

 

$

1,025,826

 

(1)
The 13 weeks and 39 weeks ended October 28, 2022 includes Net revenue of $9.5 million and $25.5 million, respectively, from the Japan eCommerce distribution channel. See Note 9, Lands’ End Japan Closure.
Summary of Deferred Revenue The following table summarizes the deferred revenue associated with payments received in advance of the transfer of control to the customer, which is reported in Accrued expenses and other current liabilities in the Condensed Consolidated Balance Sheets, as well as amounts recognized through Net revenue for each period presented. The majority of deferred revenue as of October 27, 2023 is expected to be recognized in Net revenue in the fiscal quarter ending February 2, 2024, as products are delivered to customers.

 

 

13 Weeks Ended

 

 

39 Weeks Ended

 

(in thousands)

 

October 27, 2023

 

 

October 28, 2022

 

 

October 27, 2023

 

 

October 28, 2022

 

Deferred revenue beginning of period

 

$

8,081

 

 

$

9,757

 

 

$

7,484

 

 

$

8,560

 

Deferred revenue recognized in period

 

 

(7,867

)

 

 

(9,543

)

 

 

(7,270

)

 

 

(8,346

)

Revenue deferred in period

 

 

13,586

 

 

 

13,198

 

 

 

13,586

 

 

 

13,198

 

Deferred revenue end of period

 

$

13,800

 

 

$

13,412

 

 

$

13,800

 

 

$

13,412

 

Reconciliation of Gift Card Contract Liability The following table provides the reconciliation of the contract liability related to gift cards:

 

 

13 Weeks Ended

 

 

39 Weeks Ended

 

(in thousands)

 

October 27, 2023

 

 

October 28, 2022

 

 

October 27, 2023

 

 

October 28, 2022

 

Balance as of beginning of period

 

$

33,556

 

 

$

31,444

 

 

$

33,029

 

 

$

33,070

 

Gift cards sold

 

 

14,275

 

 

 

15,075

 

 

 

43,062

 

 

 

46,745

 

Gift cards redeemed

 

 

(13,168

)

 

 

(15,033

)

 

 

(39,851

)

 

 

(47,746

)

Gift card breakage

 

 

(921

)

 

 

(466

)

 

 

(2,498

)

 

 

(1,049

)

Balance as of end of period

 

$

33,742

 

 

$

31,020

 

 

$

33,742

 

 

$

31,020