Note 6 – Segments

The Company’s reportable segments are business units that offer products through different channels of distribution. The Company has two reportable segments: wholesale operations and retail operations. The wholesale operations segment includes sales of products under brands licensed to the Company from third parties, as well as sales of products under the Company’s own brands and private label brands. The retail operations segment consists primarily of sales by the Wilsons Leather and G.H. Bass stores, as well as a limited number of Calvin Klein Performance stores.

The following information, in thousands, is presented for the three month and six month periods indicated below:

	Three Months Ended July 31, 2016
	Wholesale		Retail			Elimination⁽¹⁾			Total
Net sales	$	361,344	$	99,958		$	(19,035	)	$	442,267
Cost of goods sold		250,475		55,184			(19,035	)		286,624
Gross profit		110,869		44,774			—			155,643
Selling, general and administrative		96,613		56,555			—			153,168
Depreciation and amortization		5,370		2,302			—			7,672
Operating profit (loss)	$	8,886	$	(14,083	)	$	—		$	(5,197	)

	Three Months Ended July 31, 2015
	Wholesale		Retail			Elimination⁽¹⁾			Total
Net sales	$	391,461	$	111,497		$	(29,074	)	$	473,884
Cost of goods sold		275,308		59,310			(29,074	)		305,544
Gross profit		116,153		52,187			—			168,340
Selling, general and administrative		87,081		54,402			—			141,483
Depreciation and amortization		4,055		1,859			—			5,914
Operating profit (loss)	$	25,017	$	(4,074	)	$	—		$	20,943

	Six Months Ended July 31, 2016
	Wholesale		Retail			Elimination⁽¹⁾			Total
Net sales	$	743,715	$	194,950		$	(38,995	)	$	899,670
Cost of goods sold		508,471		108,882			(38,995	)		578,358
Gross profit		235,244		86,068			—			321,312
Selling, general and administrative		193,551		112,722			—			306,273
Depreciation and amortization		10,371		4,494			—			14,865
Operating profit (loss)	$	31,322	$	(31,148	)	$	—		$	174

	Six Months Ended July 31, 2015
	Wholesale		Retail			Elimination⁽¹⁾			Total
Net sales	$	743,945	$	214,026		$	(51,122	)	$	906,849
Cost of goods sold		520,717		114,487			(51,122	)		584,082
Gross profit		223,228		99,539			—			322,767
Selling, general and administrative		171,675		106,841			—			278,516
Depreciation and amortization		7,987		3,614			—			11,601
Operating profit (loss)	$	43,566	$	(10,916	)	$	—		$	32,650

(1)

Represents intersegment sales to the Company’s retail operations.

The total assets for each of the Company’s reportable segments are as follows:

	July 31, 2016		July 31, 2015		January 31, 2016
	(In thousands)
Wholesale	$	874,258	$	875,347	$	763,353
Retail		212,296		223,829		210,118
Corporate		172,966		90,303		210,599
Total Assets	$	1,259,520	$	1,189,479	$	1,184,070