Revenue

6 Months Ended

Jul. 30, 2021

Revenue From Contract With Customer [Abstract]

Revenue

NOTE 11. REVENUE

Revenue includes sales of merchandise and delivery revenue related to merchandise sold. Substantially all of the Company's revenue is recognized when control of product passes to customers, which for the eCommerce, Outfitters and Third Party channels is when the merchandise is expected to be received by the customer and for the Retail channel is at the time of sale in the store. The Company recognizes revenue, including shipping and handling fees billed to customers, in the amount expected to be received when control of the Company's products transfers to customers, and is presented net of various forms of promotions, which range from contractually-fixed percentage price reductions to sales returns, discounts, and other incentives that may vary in amount. Variable amounts are estimated based on an analysis of historical experience and adjusted as better estimates become available.

The Company's revenue is disaggregated by distribution channel and geographic location. Revenue by distribution channel is presented in Note 10, Segment Reporting. Revenue by geographic location was:

	13 Weeks Ended				26 Weeks Ended
(in thousands)	July 30, 2021		July 31, 2020		July 30, 2021		July 31, 2020
Net revenue:
United States	$	330,890	$	264,162	$	591,296	$	436,906
Europe		38,019		32,375		84,906		62,775
Asia		10,490		12,304		20,549		23,653
Other		4,710		3,242		8,655		5,757
Total net revenue	$	384,109	$	312,083	$	705,406	$	529,091

Contract Liabilities

Contract liabilities consist of payments received in advance of the transfer of control to the customer. As products are delivered and control transfers, the Company recognizes the deferred revenue in Net revenue in the Condensed Consolidated Statements of Operations. 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 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 July 30, 2021 is expected to be recognized in Net revenue in the fiscal quarter ending October 29, 2021, as products are delivered to customers.

	13 Weeks Ended						26 Weeks Ended
(in thousands)	July 30, 2021			July 31, 2020			July 30, 2021			July 31, 2020
Deferred revenue beginning of period	$	25,374		$	15,896		$	17,187		$	8,096
Deferred revenue recognized in period		(25,160	)		(15,896	)		(16,973	)		(8,096	)
Revenue deferred in period		18,141			11,901			18,141			11,901
Deferred revenue end of period	$	18,355		$	11,901		$	18,355		$	11,901

Revenue from gift cards is recognized when (i) the gift card is redeemed by the customer for merchandise, or (ii) as gift card breakage, an estimate of gift cards which will not be redeemed where the Company does not have a legal obligation to remit the value of the unredeemed gift cards to the relevant jurisdictions. Gift card breakage is recorded within Net revenue in the Condensed Consolidated Statements of Operations. Prior to their redemption, gift cards are recorded as a liability, included within Other current liabilities in the Condensed Consolidated Balance Sheets. The liability is estimated based on expected breakage that considers historical patterns of redemption. The following table provides the reconciliation of the contract liability related to gift cards:

	13 Weeks Ended						26 Weeks Ended
(in thousands)	July 30, 2021			July 31, 2020			July 30, 2021			July 31, 2020
Balance as of beginning of period	$	27,466		$	23,202		$	26,798		$	22,592
Gift cards sold		13,949			11,104			24,996			19,935
Gift cards redeemed		(12,963	)		(10,587	)		(23,228	)		(18,714	)
Gift card breakage		(111	)		(68	)		(225	)		(162	)
Balance as of end of period	$	28,341		$	23,651		$	28,341		$	23,651

Refund Liabilities

Refund liabilities, primarily associated with product sales returns and retrospective volume rebates, represent variable consideration and are estimated and recorded as a reduction to Net revenue based on historical experience. As of July 30, 2021, July 31, 2020 and January 29, 2021, $17.4 million, $23.2 million and $25.7 million, respectively, of refund liabilities, primarily associated with product returns, were reported in Other current liabilities in the Condensed Consolidated Balance Sheets. An asset for product returns is recorded in Prepaid expenses and other current assets in the Condensed Consolidated Balance Sheets.