Note 8 – Segments

The Company has two reportable segments: wholesale operations and retail operations. The wholesale operations segment includes sales of products under the Company’s owned, licensed and private label brands, as well as sales related to the Vilebrequin business. Wholesale revenues also include royalty revenues from license agreements related to our owned trademarks including Donna Karan, DKNY, Vilebrequin, G.H. Bass and Andrew Marc. The retail operations segment consists primarily of the Wilsons Leather, G.H. Bass and DKNY stores, as well as a smaller number of Karl Lagerfeld Paris and Calvin Klein Performance stores. Sales through the Company’s owned websites, with the exception of Vilebrequin, are also included in the retail operations segment.

The following segment information is presented for the three-month periods indicated below:


	Three Months Ended April 30, 2019
	Wholesale		Retail		Elimination (1)		Total
	(In thousands)
Net sales	$	570,639	$	81,904	$	(18,991)	$	633,552
Cost of goods sold		371,580		44,899		(18,991)		397,488
Gross profit		199,059		37,005		—		236,064
Selling, general and administrative expenses		147,258		54,601		—		201,859
Depreciation and amortization		7,522		1,951		—		9,473
Gain on lease terminations		—		(829)		—		(829)
Operating profit (loss)	$	44,279	$	(18,718)	$	—	$	25,561


	Three Months Ended April 30, 2018
	Wholesale		Retail		Elimination (1)		Total
	(In thousands)
Net sales	$	527,673	$	104,519	$	(20,449)	$	611,743
Cost of goods sold		341,575		56,090		(20,449)		377,216
Gross profit		186,098		48,429		—		234,527
Selling, general and administrative expenses		136,413		65,658		—		202,071
Depreciation and amortization		7,136		2,244		—		9,380
Operating profit (loss)	$	42,549	$	(19,473)	$	—	$	23,076

⁽¹⁾

Represents intersegment sales to the Company’s retail operations segment.

The total assets for each of the Company’s reportable segments, as well as assets not allocated to a segment, are as follows:


	April 30, 2019		April 30, 2018		January 31, 2019
	(In thousands)
Wholesale	$	1,813,238	$	1,655,714	$	1,834,610
Retail		376,619		211,475		190,996
Corporate		256,687		173,374		182,452
Total assets	$	2,446,544	$	2,040,563	$	2,208,058