XML 31 R17.htm IDEA: XBRL DOCUMENT v3.24.3
Segment Information
9 Months Ended
Nov. 02, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company’s businesses are grouped into five reportable segments for management and internal financial reporting purposes: Europe, Americas Retail, Americas Wholesale, Asia and Licensing. The Company’s Europe, Americas Retail, Americas Wholesale and Licensing reportable segments are the same as their respective operating segments. Certain components of the Company’s Asia operating segment are
separate operating segments based on region, which have been aggregated into the Asia reportable segment for disclosure purposes. On April 2, 2024, the Company completed the rag & bone acquisition and has integrated rag & bone into its existing segments for financial reporting purposes.
Management evaluates segment performance based primarily on revenues and earnings (loss) from operations before corporate performance-based compensation costs, asset impairment charges, net gains (losses) on lease modifications, separation charges, transaction costs, restructuring charges, gain on sale of assets and certain non-recurring credits (charges), if any. All intercompany revenues are eliminated in consolidation and are not reviewed when evaluating segment performance. The Company believes this segment reporting reflects how its business segments are managed and how each segment’s performance is evaluated by the Company’s chief operating decision maker to assess performance and make resource allocation decisions.
Net revenue and earnings (loss) from operations are summarized (in thousands):
 Three Months EndedNine Months Ended
 Nov 2, 2024Oct 28, 2023Nov 2, 2024Oct 28, 2023
Net revenue:  
Europe$368,429 $344,472 $1,035,532 $990,981 
Americas Retail172,751 153,872 498,441 464,984 
Americas Wholesale98,849 55,288 245,381 150,361 
Asia65,478 64,498 192,566 194,210 
Licensing33,011 33,040 91,101 84,944 
Total net revenue$738,518 $651,170 $2,063,021 $1,885,480 
Earnings (loss) from operations:  
Europe$32,476 $35,555 $69,431 $84,344 
Americas Retail(7,487)8,086 (15,185)20,060 
Americas Wholesale25,410 16,106 55,517 40,264 
Asia(1,281)636 1,236 3,927 
Licensing30,296 30,770 84,110 79,419 
Total segment earnings from operations79,414 91,153 195,109 228,014 
Corporate overhead(36,765)(34,106)(134,935)(105,164)
Asset impairment charges1
(1,091)(1,737)(4,509)(6,293)
Net gains (losses) on lease modifications2
718 (537)718 1,894 
Gain on sale of assets3
— — 13,781 — 
Total earnings from operations$42,276 $54,773 $70,164 $118,451 
______________________________________________________________________
Notes:
1During each of the three and nine months ended November 2, 2024 and October 28, 2023, the Company recognized asset impairment charges related primarily to impairment of property and equipment related to certain retail locations resulting from under-performance and expected store closures. Refer to Note 16 for more information regarding these asset impairment charges.
2During each of the three and nine months ended November 2, 2024 and October 28, 2023, the Company recorded net gains (losses) on lease modifications related primarily to the early termination of certain lease agreements.
3During the nine months ended November 2, 2024, the Company recorded a gain on the sale of assets related to the U.S. distribution center.
The below presents information regarding geographic areas in which the Company operated. Net revenue is classified primarily based on the country where the Company’s customer is located (in thousands):
 Three Months EndedNine Months Ended
 Nov 2, 2024Oct 28, 2023Nov 2, 2024Oct 28, 2023
Net revenue:  
U.S.$198,955 $133,613 $542,794 $412,746 
Italy72,519 71,395 208,240 213,055 
Germany52,326 47,179 137,615 127,503 
South Korea39,097 41,642 118,788 124,132 
Spain37,385 35,034 107,501 104,389 
Canada33,244 38,968 95,134 109,178 
Mexico31,977 31,426 92,226 78,978 
Other countries240,004 218,873 669,622 630,555 
Total product sales705,507 618,130 1,971,920 1,800,536 
Net royalties33,011 33,040 91,101 84,944 
Net revenue$738,518 $651,170 $2,063,021 $1,885,480 
Due to the seasonal nature of the Company’s business segments, the above net revenue and operating results are not necessarily indicative of the results that may be expected for the full fiscal year.