Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Nov. 02, 2019 | Nov. 29, 2019 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000014707 | |
Entity Registrant Name | CALERES INC | |
Amendment Flag | false | |
Current Fiscal Year End Date | --02-01 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2019 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Nov. 2, 2019 | |
Document Transition Report | false | |
Entity File Number | 1-2191 | |
Entity Incorporation, State or Country Code | NY | |
Entity Tax Identification Number | 43-0197190 | |
Entity Address, Address Line One | 8300 Maryland Avenue | |
Entity Address, City or Town | St. Louis | |
Entity Address, State or Province | MO | |
Entity Address, Postal Zip Code | 63105 | |
City Area Code | 314 | |
Local Phone Number | 854-4000 | |
Title of 12(b) Security | Common Stock - par value of $0.01 per share | |
Trading Symbol | CAL | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 40,534,862 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Nov. 02, 2019 | Feb. 02, 2019 | Nov. 03, 2018 |
Current assets: | |||
Cash and cash equivalents | $ 52,502 | $ 30,200 | $ 90,491 |
Receivables, net | 156,253 | 191,722 | 192,246 |
Inventories, net | 644,646 | 683,171 | 698,265 |
Prepaid expenses and other current assets | 48,245 | 71,354 | 63,166 |
Total current assets | 901,646 | 976,447 | 1,044,168 |
Other assets | 92,214 | 81,440 | 92,279 |
Goodwill | 245,275 | 242,531 | 283,345 |
Intangible assets, net | 297,570 | 307,366 | 370,507 |
Lease right-of-use assets | 704,244 | 0 | 0 |
Property and equipment | 591,370 | 579,087 | 556,967 |
Allowance for depreciation | (361,109) | (348,303) | (338,864) |
Property and equipment, net | 230,261 | 230,784 | 218,103 |
Total assets | 2,471,210 | 1,838,568 | 2,008,402 |
Current liabilities: | |||
Borrowings under revolving credit agreement | 295,000 | 335,000 | 350,000 |
Trade accounts payable | 275,699 | 316,298 | 317,499 |
Lease obligations | 144,501 | 0 | 0 |
Other accrued expenses | 179,030 | 202,038 | 209,479 |
Total current liabilities | 894,230 | 853,336 | 876,978 |
Other liabilities: | |||
Noncurrent lease obligations | 629,731 | 0 | 0 |
Long-term debt | 198,276 | 197,932 | 197,817 |
Deferred rent | 0 | 54,850 | 51,930 |
Other liabilities | 95,623 | 97,015 | 114,592 |
Total other liabilities | 923,630 | 349,797 | 364,339 |
Equity: | |||
Common stock | 406 | 419 | 432 |
Additional paid-in capital | 152,214 | 145,889 | 143,754 |
Accumulated other comprehensive loss | (30,318) | (31,601) | (16,624) |
Retained earnings | 528,538 | 519,346 | 638,191 |
Total Caleres, Inc. shareholders’ equity | 650,840 | 634,053 | 765,753 |
Noncontrolling interests | 2,510 | 1,382 | 1,332 |
Total equity | 653,350 | 635,435 | 767,085 |
Total liabilities and equity | $ 2,471,210 | $ 1,838,568 | $ 2,008,402 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Earnings (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Nov. 02, 2019 | Nov. 03, 2018 | Nov. 02, 2019 | Nov. 03, 2018 | |
Net sales | $ 792,375 | $ 775,829 | $ 2,222,614 | $ 2,114,583 |
Cost of goods sold | 472,605 | 465,219 | 1,317,064 | 1,235,950 |
Gross profit | 319,770 | 310,610 | 905,550 | 878,633 |
Selling and administrative expenses | 275,330 | 265,522 | 804,972 | 774,555 |
Restructuring and other special charges, net | 969 | 5,340 | 2,434 | 9,240 |
Operating earnings | 43,471 | 39,748 | 98,144 | 94,838 |
Interest expense, net | (10,559) | (4,210) | (25,288) | (11,495) |
Other income, net | 2,633 | 3,085 | 7,902 | 9,254 |
Earnings before income taxes | 35,545 | 38,623 | 80,758 | 92,597 |
Income tax provision | (7,784) | (9,468) | (18,685) | (22,651) |
Net earnings | 27,761 | 29,155 | 62,073 | 69,946 |
Net (loss) earnings attributable to noncontrolling interests | (226) | 2 | (338) | (65) |
Net earnings attributable to Caleres, Inc. | $ 27,987 | $ 29,153 | $ 62,411 | $ 70,011 |
Basic earnings per common share attributable to Caleres, Inc. shareholders (in dollars per share) | $ 0.69 | $ 0.68 | $ 1.51 | $ 1.62 |
Diluted earnings per common share attributable to Caleres, Inc. shareholders (in dollars per share) | $ 0.69 | $ 0.67 | $ 1.51 | $ 1.62 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Nov. 02, 2019 | Nov. 03, 2018 | Nov. 02, 2019 | Nov. 03, 2018 | |
Net earnings | $ 27,761 | $ 29,155 | $ 62,073 | $ 69,946 |
Other comprehensive income (loss), net of tax: | ||||
Foreign currency translation adjustment | 582 | 14 | (397) | (1,045) |
Pension and other postretirement benefits adjustments | 429 | 451 | 1,285 | 1,353 |
Derivative financial instruments | 63 | (320) | 361 | (1,762) |
Other comprehensive income (loss), net of tax | 1,074 | 145 | 1,249 | (1,454) |
Comprehensive income | 28,835 | 29,300 | 63,322 | 68,492 |
Comprehensive loss attributable to noncontrolling interests | (239) | (9) | (372) | (141) |
Comprehensive income attributable to Caleres, Inc. | $ 29,074 | $ 29,309 | $ 63,694 | $ 68,633 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Nov. 02, 2019 | Nov. 03, 2018 | |
Operating Activities | ||
Net earnings | $ 62,073 | $ 69,946 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
Depreciation | 34,312 | 33,189 |
Amortization of capitalized software | 4,910 | 8,282 |
Amortization of intangible assets | 9,790 | 3,880 |
Amortization and accretion of debt issuance costs, debt discount and mandatory purchase obligation | 5,389 | 1,610 |
Share-based compensation expense | 8,933 | 11,615 |
Loss on disposal of property and equipment | 874 | 1,772 |
Impairment charges for property, equipment, and lease right-of-use assets | 5,105 | 2,040 |
Provision for doubtful accounts | 728 | 426 |
Deferred rent | 0 | (1,141) |
Changes in operating assets and liabilities, net of acquired amounts: | ||
Receivables | 34,740 | (6,457) |
Inventories | 37,482 | (57,138) |
Prepaid expenses and other current and noncurrent assets | (2,944) | (9,788) |
Trade accounts payable | (37,537) | 17,113 |
Accrued expenses and other liabilities | (18,032) | 21,135 |
Other, net | (86) | (2,074) |
Net cash provided by operating activities | 145,737 | 94,410 |
Investing Activities | ||
Purchases of property and equipment | (37,354) | (35,244) |
Disposals of property and equipment | 636 | 0 |
Capitalized software | (4,893) | (3,505) |
Net cash used for investing activities | (41,611) | (400,975) |
Financing Activities | ||
Borrowings under revolving credit agreement | 237,000 | 360,000 |
Repayments under revolving credit agreement | (277,000) | (10,000) |
Dividends paid | (8,631) | (9,059) |
Acquisition of treasury stock | (31,168) | (3,288) |
Issuance of common stock under share-based plans, net | (2,605) | (4,318) |
Contributions by noncontrolling interests | 1,500 | 0 |
Other | (1,022) | (114) |
Net cash (used for) provided by financing activities | (81,926) | 333,221 |
Effect of exchange rate changes on cash and cash equivalents | 102 | (212) |
Increase in cash and cash equivalents | 22,302 | 26,444 |
Cash and cash equivalents at beginning of period | 30,200 | 64,047 |
Cash and cash equivalents at end of period | 52,502 | 90,491 |
Blowfish, LLC [Member] | ||
Operating Activities | ||
Net earnings | 4,700 | (900) |
Investing Activities | ||
Acquisition cost, net of cash received | 0 | (17,284) |
Vionic [Member] | ||
Operating Activities | ||
Net earnings | 1,300 | (1,200) |
Investing Activities | ||
Acquisition cost, net of cash received | $ 0 | $ (344,942) |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Parent [Member] | Noncontrolling Interest [Member] | Total |
BALANCE (in shares) at Feb. 03, 2018 | 43,031,689 | ||||||
BALANCE at Feb. 03, 2018 | $ 430,000 | $ 136,460,000 | $ (15,170,000) | $ 595,769,000 | $ 717,489,000 | $ 1,473,000 | $ 718,962,000 |
Net earnings | 70,011,000 | 70,011,000 | (65,000) | 69,946,000 | |||
Foreign currency translation adjustment | (1,045,000) | (1,045,000) | (76,000) | (1,121,000) | |||
Derivative financial instruments | (1,762,000) | (1,762,000) | (1,762,000) | ||||
Pension and other postretirement benefits adjustments | 1,353,000 | 1,353,000 | 1,353,000 | ||||
Comprehensive income (loss) | (1,454,000) | 68,557,000 | (141,000) | 68,492,000 | |||
Dividends | (9,059,000) | (9,059,000) | (9,059,000) | ||||
Acquisition of treasury stock (in shares) | (100,000) | ||||||
Acquisition of treasury stock | $ (1,000) | (3,287,000) | (3,288,000) | (3,288,000) | |||
Issuance of common stock under share-based plans, net (in shares) | 290,756 | ||||||
Issuance of common stock under share-based plans, net | $ 3,000 | (4,321,000) | (4,318,000) | (4,318,000) | |||
Share-based compensation expense | 11,615,000 | 11,615,000 | 11,615,000 | ||||
Comprehensive income (loss) | 68,416,000 | ||||||
Cumulative-effect adjustment from adoption of ASC 842 | Accounting Standards Update 2016-16 [Member] | (10,468,000) | (10,468,000) | (10,468,000) | ||||
Cumulative-effect adjustment from adoption of ASC 842 | Accounting Standards Update 2014-09 [Member] | (4,775,000) | (4,775,000) | (4,775,000) | ||||
BALANCE (in shares) at Nov. 03, 2018 | 43,222,445 | ||||||
BALANCE at Nov. 03, 2018 | $ 432,000 | 143,754,000 | (16,624,000) | 638,191,000 | 765,753,000 | 1,332,000 | 767,085,000 |
BALANCE (in shares) at Aug. 04, 2018 | 43,205,220 | ||||||
BALANCE at Aug. 04, 2018 | $ 432,000 | 140,146,000 | (16,769,000) | 612,044,000 | 735,853,000 | 1,341,000 | 737,194,000 |
Net earnings | 29,153,000 | 29,153,000 | 2,000 | 29,155,000 | |||
Foreign currency translation adjustment | 14,000 | 14,000 | (11,000) | 3,000 | |||
Derivative financial instruments | (320,000) | (320,000) | (320,000) | ||||
Pension and other postretirement benefits adjustments | 451,000 | 451,000 | 451,000 | ||||
Comprehensive income (loss) | 145,000 | 29,298,000 | (9,000) | 29,300,000 | |||
Dividends | (3,006,000) | (3,006,000) | $ (3,006,000) | ||||
Issuance of common stock under share-based plans, net (in shares) | 17,225 | 17,225 | |||||
Issuance of common stock under share-based plans, net | $ 0 | 47,000 | 47,000 | $ 47,000 | |||
Share-based compensation expense | 3,561,000 | 3,561,000 | 3,561,000 | ||||
Comprehensive income (loss) | 29,289,000 | ||||||
BALANCE (in shares) at Nov. 03, 2018 | 43,222,445 | ||||||
BALANCE at Nov. 03, 2018 | $ 432,000 | 143,754,000 | (16,624,000) | 638,191,000 | 765,753,000 | 1,332,000 | 767,085,000 |
BALANCE (in shares) at Feb. 02, 2019 | 41,886,562 | ||||||
BALANCE at Feb. 02, 2019 | $ 419,000 | 145,889,000 | (31,601,000) | 519,346,000 | 634,053,000 | 1,382,000 | 635,435,000 |
Net earnings | 62,411,000 | 62,411,000 | (338,000) | 62,073,000 | |||
Foreign currency translation adjustment | (363,000) | (363,000) | (34,000) | (397,000) | |||
Derivative financial instruments | 361,000 | 361,000 | 361,000 | ||||
Pension and other postretirement benefits adjustments | 1,285,000 | 1,285,000 | 1,285,000 | ||||
Comprehensive income (loss) | 1,283,000 | 63,694,000 | (372,000) | 63,322,000 | |||
Contributions by noncontrolling interests | 1,500,000 | 1,500,000 | |||||
Dividends | (8,631,000) | (8,631,000) | (8,631,000) | ||||
Acquisition of treasury stock (in shares) | (1,588,741) | ||||||
Acquisition of treasury stock | $ (16,000) | (31,152,000) | (31,168,000) | (31,168,000) | |||
Issuance of common stock under share-based plans, net (in shares) | 295,466 | ||||||
Issuance of common stock under share-based plans, net | $ 3,000 | (2,608,000) | (2,605,000) | (2,605,000) | |||
Share-based compensation expense | 8,933,000 | 8,933,000 | 8,933,000 | ||||
Cumulative-effect adjustment from adoption of ASC 842 | Accounting Standards Update 2016-02 [Member] | (13,436,000) | (13,436,000) | (13,436,000) | ||||
BALANCE (in shares) at Nov. 02, 2019 | 40,593,287 | ||||||
BALANCE at Nov. 02, 2019 | $ 406,000 | 152,214,000 | (30,318,000) | 528,538,000 | 650,840,000 | 2,510,000 | 653,350,000 |
BALANCE (in shares) at Aug. 03, 2019 | 40,720,927 | ||||||
BALANCE at Aug. 03, 2019 | $ 407,000 | 149,881,000 | (31,405,000) | 504,546,000 | 623,429,000 | 1,249,000 | 624,678,000 |
Net earnings | 27,987,000 | 27,987,000 | (226,000) | 27,761,000 | |||
Foreign currency translation adjustment | 595,000 | 595,000 | (13,000) | 582,000 | |||
Derivative financial instruments | 63,000 | 63,000 | 63,000 | ||||
Pension and other postretirement benefits adjustments | 429,000 | 429,000 | 429,000 | ||||
Comprehensive income (loss) | 1,087,000 | 29,074,000 | (239,000) | 28,835,000 | |||
Contributions by noncontrolling interests | 1,500,000 | 1,500,000 | |||||
Dividends | (2,823,000) | (2,823,000) | (2,823,000) | ||||
Acquisition of treasury stock (in shares) | (58,263) | ||||||
Acquisition of treasury stock | $ (1,000) | (1,172,000) | (1,173,000) | $ (1,173,000) | |||
Issuance of common stock under share-based plans, net (in shares) | (69,377) | (69,377) | |||||
Issuance of common stock under share-based plans, net | $ 0 | (58,000) | (58,000) | $ (58,000) | |||
Share-based compensation expense | 2,391,000 | 2,391,000 | 2,391,000 | ||||
BALANCE (in shares) at Nov. 02, 2019 | 40,593,287 | ||||||
BALANCE at Nov. 02, 2019 | $ 406,000 | $ 152,214,000 | $ (30,318,000) | $ 528,538,000 | $ 650,840,000 | $ 2,510,000 | $ 653,350,000 |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Nov. 02, 2019 | Nov. 03, 2018 | Nov. 02, 2019 | Nov. 03, 2018 | |
Unrealized gain on derivative financial instruments, tax | $ 4 | $ 82 | $ 83 | $ 436 |
Pension and other postretirement benefits adjustments, tax | $ 149 | $ 157 | $ 448 | $ 470 |
Dividends, per share (in dollars per share) | $ 0.07 | $ 0.07 | $ 0.21 | $ 0.21 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Nov. 02, 2019 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | Note 1 Basis of Presentation The accompanying condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10 not The Company’s business is seasonal in nature due to consumer spending patterns, with higher back-to-school and holiday season sales. Traditionally, the third may not may Certain prior period amounts in the condensed consolidated financial statements have been reclassified to conform to the current period presentation. These reclassifications did not For further information, refer to the consolidated financial statements and footnotes included in the Company's Annual Report on Form 10 February 2, 2019 |
Note 2 - Impact of New Accounti
Note 2 - Impact of New Accounting Pronouncements | 9 Months Ended |
Nov. 02, 2019 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Note 2 Impact of New Accounting Pronouncements Impact of Recently Adopted Accounting Pronouncements In February 2016, 2016 02, Leases (Topic 842 2018 11, Leases (Topic 842 842 842" first 2019 2018 11. February 3, 2019. not 840, Leases not 10 842. In August 2018, No. 33 10532, Disclosure Update and Simplification fourth 2018 10 first 2019. July 2019, 2019 07, Amendments to SEC Paragraphs Pursuant to SEC Final Rule Releases No. 33 10532, 33 10231 33 10442, 2019 07 No. 33 10532 not Impact of Prospective Accounting Pronouncements In February 2016, 2016 13, Financial Instruments - Credit Losses (Topic 326 not December 15, 2019. first not first 2020 not In August 2018, 2018 13, Fair Value Measurement (Topic 820 2018 13 December 15, 2019. 2018 13 not In August 2018, 2018 14, Compensation — Retirement Benefits — Defined Benefit Plans — General (Subtopic 715 20 no December 15, 2020, 2018 14 not |
Note 3 - Acquisitions
Note 3 - Acquisitions | 9 Months Ended |
Nov. 02, 2019 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | Note 3 Acquisitions Acquisition of Blowfish, LLC On July 6, 2018 , Blowfish Malibu three 2021. thirteen thirty-nine November 2, 2019 July 6, 2018 Blowfish Malibu, which was founded in 2005, The Company’s purchase price allocation contains uncertainties because it required management to make assumptions and to apply judgment to estimate the fair value of the acquired assets and liabilities. A single estimate of fair value results from a complex series of judgments about future events and uncertainties and relies heavily on estimates and assumptions. The judgments the Company used in estimating the fair values assigned to each class of the acquired assets and assumed liabilities could materially affect the results of its operations. Management estimated the fair value of the assets and liabilities based upon quoted market prices, the carrying value of the acquired assets and widely accepted valuation techniques, including discounted cash flows (Level 3 may g assumptions regarding industry economic factors and business strategies. The purchase price allocation was completed during the first 2019. During the thirteen November 2, 2019 , Blowfish Malibu contributed net sales of $13.5 million to the Brand Portfolio segment ($11.7 million on a consolidated basis, net of eliminations), and net income of $0.9 million on a consolidated basis. During the thirty-nine November 2, 2019 , Blowfish Malibu contributed net sales of $48.6 million to the Brand Portfolio segment ($42.1 million on a consolidated basis, net of eliminations), and net income of $4.7 million on a consolidated basis. During the thirteen November 3, 2018 , Blowfish Malibu contributed net sales of $7.0 million to the Brand Portfolio ($6.4 million on a consolidated basis, net of eliminations), and a net loss of $0.5 million on a consolidated basis. Du thirty-nine November 3, 2018 8.9 Acquisition of Vionic On October 18, 2018 , Vionic October 18, 2018 Vionic, which was founded in 1979, The Brand Portfolio segment recognized $5.8 million ($4.3 million on an after-tax basis, or $0.10 per diluted share) in incremental cost of goods sold in the thirty-nine November 2, 2019 first 2019. The Company incurred integration-related costs of $1.0 million ($0.7 million on an after-tax basis or $0.02 per diluted share) in the thirteen November 2, 2019 thirty-nine November 2, 2019 1.9 1.8 thirteen thirty-nine November 3, 2018 $3.5 In the thirteen November 2, 2019 thirty-nine November 2, 2019 thirteen thirty-nine November 3, 2018 Purchase Price Allocation The assets and liabilities of Vionic were recorded at their estimated fair values, and the excess of the purchase price over the fair value of the assets acquired and liabilities assumed, including identified intangible assets, was recorded as goodwill. The Company has allocated the purchase price as of the acquisition date, October 18, 2018, ($ thousands) October 18, 2018 ASSETS Current assets: Cash and cash equivalents $ 8,024 Receivables 32,319 Inventories 58,332 Prepaid expense and other current assets 3,618 Total current assets 102,293 Goodwill 151,281 Intangible assets 144,700 Property and equipment 6,864 Total assets $ 405,138 LIABILITIES AND EQUITY Current liabilities: Trade accounts payable $ 19,679 Other accrued expenses 21,228 Total current liabilities 40,907 Other liabilities 3,541 Total liabilities 44,448 Net assets $ 360,690 The Company’s purchase price allocation required management to make assumptions and to apply judgment to estimate the fair value of the acquired assets and liabilities. A single estimate of fair value results from a complex series of judgments about future events and uncertainties and relies heavily on estimates and assumptions. The judgments the Company used in estimating the fair values assigned to each class of the acquired assets and assumed liabilities could materially affect the results of its operations. Management estimated the fair value of the assets and liabilities based upon quoted market prices, the carrying value of the acquired assets and widely accepted valuation techniques, including discounted cash flows (Level 3 may third November 2, 2019 Goodwill and intangible assets reflected above were determined to meet the criteria for recognition apart from tangible assets acquired and liabilities assumed. The goodwill recognized, which is deductible for tax purposes, is primarily attributable to synergies and an assembled workforce. Refer to Note 9 Joint Venture With Brand Investment Holding During the second 2019, third 2019, |
Note 4 - Revenues
Note 4 - Revenues | 9 Months Ended |
Nov. 02, 2019 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note 4 Revenues Accounting Policy Revenue is recognized when obligations under the terms of a contract with the consumer are satisfied. This generally occurs at the time of transfer of control of merchandise. The Company considers several control indicators in its assessment of the timing of the transfer of control, including significant risks and rewards of ownership, physical possession and the Company's right to receive payment. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring merchandise. The Company excludes sales and similar taxes collected from customers from the measurement of the transaction price for its retail sales. Disaggregation of Revenues The following table disaggregates revenue by segment and major source for the periods ended November 2, 2019 November 3, 2018 Thirteen Weeks Ended November 2, 2019 ($ thousands) Famous Footwear Brand Portfolio Eliminations and Other Total Retail stores $ 401,943 $ 40,621 $ — $ 442,564 Landed wholesale-e-commerce/drop ship (1) — 85,957 — 85,957 Landed wholesale - other — 177,146 (14,071 ) 163,075 First-cost wholesale — 16,124 — 16,124 First-cost wholesale - e-commerce (1) — 354 — 354 E-commerce - Company websites (1) 44,489 36,692 — 81,181 Licensing and royalty — 2,908 — 2,908 Other (2) 151 61 — 212 Net sales $ 446,583 $ 359,863 $ (14,071 ) $ 792,375 Thirteen Weeks Ended November 3, 2018 ($ thousands) Famous Footwear Brand Portfolio Eliminations and Other Total Retail stores $ 408,248 $ 43,186 $ — $ 451,434 Landed wholesale-e-commerce/drop ship (1) — 66,698 — 66,698 Landed wholesale - other — 175,509 (15,968 ) 159,541 First-cost wholesale — 21,345 — 21,345 First-cost wholesale - e-commerce (1) — 422 — 422 E-commerce - Company websites (1) 40,383 32,000 — 72,383 Licensing and royalty — 3,810 — 3,810 Other (2) 134 62 — 196 Net sales $ 448,765 $ 343,032 $ (15,968 ) $ 775,829 Thirty-Nine Weeks Ended November 2, 2019 ($ thousands) Famous Footwear Brand Portfolio Eliminations and Other Total Retail stores $ 1,108,200 $ 115,819 $ — $ 1,224,019 Landed wholesale-e-commerce/drop ship (1) — 212,927 — 212,927 Landed wholesale - other — 549,321 (56,463 ) 492,858 First-cost wholesale — 66,826 — 66,826 First-cost wholesale - e-commerce (1) — 1,528 — 1,528 E-commerce - Company websites (1) 109,954 102,637 — 212,591 Licensing and royalty — 11,234 — 11,234 Other (2) 435 196 — 631 Net sales $ 1,218,589 $ 1,060,488 $ (56,463 ) $ 2,222,614 Thirty-Nine Weeks Ended November 3, 2018 ($ thousands) Famous Footwear Brand Portfolio Eliminations and Other Total Retail stores $ 1,147,512 $ 129,557 $ — $ 1,277,069 Landed wholesale-e-commerce/drop ship (1) — 160,617 — 160,617 Landed wholesale - other — 479,173 (58,615 ) 420,558 First-cost wholesale — 61,910 — 61,910 First-cost wholesale - e-commerce (1) — 583 — 583 E-commerce - Company websites (1) 93,729 87,390 — 181,119 Licensing and royalty — 12,104 — 12,104 Other (2) 407 216 — 623 Net sales $ 1,241,648 $ 931,550 $ (58,615 ) $ 2,114,583 ( 1 Collectively referred to as "e-commerce" below ( 2 Includes breakage revenue from unredeemed gift cards Retail stores The majority of the Company's revenue is generated from retail sales where control is transferred and revenue is recognized at the point of sale. Retail sales are recorded net of estimated returns and exclude sales tax. The Company carries a returns reserve and a corresponding return asset for expected returns of merchandise. Retail sales to members of the Company's loyalty programs, including the Famously You Rewards program, include two may Landed wholesale Landed sales are wholesale sales in which the merchandise is shipped directly to the customer from the Company’s warehouses. Many landed customers arrange their own transportation of merchandise and, with limited exceptions, control is transferred at the time of shipment. First-cost wholesale First-cost sales are wholesale sales in which the Company purchases merchandise from an international factory that manufactures the product and subsequently sells to a customer at an overseas port. Revenue is recognized at the time the merchandise is delivered to the customer’s designated freight forwarder and control is transferred to the customer. E-commerce The Company also generates revenue from sales on websites maintained by the Company that are shipped from the Company's distribution centers or retail stores directly to the consumer, picked up directly by the consumer from the Company's stores and e-commerce sales from the Company's wholesale customers' websites that are fulfilled on a drop-ship or first Licensing and royalty The Company has license agreements with third not Contract Balances Revenue is recorded at the transaction price, net of estimates for variable consideration for which reserves are established, including returns, allowances and discounts. Variable consideration is estimated using the expected value method and given the large number of contracts with similar characteristics, the portfolio approach is applied to determine the variable consideration for each revenue stream. Reserves for projected returns are based on historical patterns and current expectations. Information about significant contract balances from contracts with customers is as follows: ($ thousands) November 2, 2019 November 3, 2018 February 2, 2019 Customer allowances and discounts $ 25,762 $ 23,835 $ 25,090 Loyalty programs liability 17,274 16,299 14,637 Returns reserve 15,040 15,373 13,841 Gift card liability 4,794 4,169 5,426 Changes in contract balances with customers generally reflect differences in relative sales volume for the period presented. In addition, during the thirty-nine November 2, 2019 thirty-nine November 3, 2018 606 |
Note 5 - Earnings Per Share
Note 5 - Earnings Per Share | 9 Months Ended |
Nov. 02, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 5 Earnings Per Share The Company uses the two no not November 2, 2019 November 3, 2018 Thirteen Weeks Ended Thirty-Nine Weeks Ended ($ thousands, except per share amounts) November 2, 2019 November 3, 2018 November 2, 2019 November 3, 2018 NUMERATOR Net earnings $ 27,761 $ 29,155 $ 62,073 $ 69,946 Net loss (earnings) attributable to noncontrolling interests 226 (2 ) 338 65 Net earnings allocated to participating securities (946 ) (800 ) (2,042 ) (1,950 ) Net earnings attributable to Caleres, Inc. after allocation of earnings to participating securities $ 27,041 $ 28,353 $ 60,369 $ 68,061 DENOMINATOR Denominator for basic earnings per common share attributable to Caleres, Inc. shareholders 39,258 41,999 39,983 41,958 Dilutive effect of share-based awards 55 107 57 116 Denominator for diluted earnings per common share attributable to Caleres, Inc. shareholders 39,313 42,106 40,040 42,074 Basic earnings per common share attributable to Caleres, Inc. shareholders $ 0.69 $ 0.68 $ 1.51 $ 1.62 Diluted earnings per common share attributable to Caleres, Inc. shareholders $ 0.69 $ 0.67 $ 1.51 $ 1.62 Options to purchase 16,667 thirteen thirty-nine November 2, 2019 not thirteen thirty-nine November 3, 2018 During the thirteen November 2, 2019 November 3, 2018 2011 2018 thirty-nine November 2, 2019 November 3, 2018 November 2, 2019 |
Note 6 - Restructuring and Othe
Note 6 - Restructuring and Other Initiatives | 9 Months Ended |
Nov. 02, 2019 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | Note 6 Restructuring and Other Initiatives Vionic Acquisition and Integration-Related Costs During the thirteen November 2, 2019 thirty-nine November 2, 2019 $1.9 ther special charges, net in the condensed consolidated statements of earnings, $1.8 million is reflected within the Eliminations and Other category and $0.1 million is included in the Brand Portfolio segment. During the thirteen thirty-nine November 3, 2018 $4.1 within the Eliminations and Other category and is . As of November 2, 2019 November 3, 2018 1.1 3 atements. Blowfish Malibu Acquisition and Integration-Related Costs The Company incurred acquisition costs associated with the acquisition of Blowfish Malibu of $0.1 million ($0.1 million on an after-tax basis) and $0.3 million ($0.2 million on an after-tax basis, or $0.01 per diluted share) during the thirteen thirty-nine November 3, 2018 thirteen thirty-nine November 2, 2019 3 Carlos Brand Exit The Company's license agreement to sell Carlos by Carlos Santana footwear expired in December 2018. thirty-nine November 2, 2019 thirteen November 2, 2019 thirty-nine November 3, 2018 Integration and Reorganization of Men's Brands During the thirteen thirty-nine November 3, 2018 $1.2 thirteen November 3, 2018 $4.8 thirty-nine November 3, 2018 thirteen thirty-nine November 2, 2019 |
Note 7 - Business Segment Infor
Note 7 - Business Segment Information | 9 Months Ended |
Nov. 02, 2019 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 7 Business Segment Information During the first 2019, November 2, 2019 November 3, 2018 ($ thousands) Famous Footwear Brand Portfolio Eliminations and Other Total Thirteen Weeks Ended November 2, 2019 Net sales $ 446,583 $ 359,863 $ (14,071 ) $ 792,375 Intersegment sales (1) — 14,071 — 14,071 Operating earnings (loss) 27,681 19,398 (3,608 ) 43,471 Segment assets 973,272 1,360,445 137,493 2,471,210 Thirteen Weeks Ended November 3, 2018 Net sales $ 448,765 $ 343,032 $ (15,968 ) $ 775,829 Intersegment sales (1) — 15,968 — 15,968 Operating earnings (loss) 24,414 25,114 (9,780 ) 39,748 Segment assets 548,609 1,272,576 187,217 2,008,402 Thirty-Nine Weeks Ended November 2, 2019 Net sales $ 1,218,589 $ 1,060,488 $ (56,463 ) $ 2,222,614 Intersegment sales (1) — 56,463 — 56,463 Operating earnings (loss) 70,036 46,225 (18,117 ) 98,144 Thirty-Nine Weeks Ended November 3, 2018 Net sales $ 1,241,648 $ 931,550 $ (58,615 ) $ 2,114,583 Intersegment sales (1) — 58,615 — 58,615 Operating earnings (loss) 79,511 52,650 (37,323 ) 94,838 ( 1 The Eliminations and Other category includes corporate assets, administrative expenses and other costs and recoveries, which are not Following is a reconciliation of operating earnings to earnings before income taxes: Thirteen Weeks Ended Thirty-Nine Weeks Ended ($ thousands) November 2, 2019 November 3, 2018 November 2, 2019 November 3, 2018 Operating earnings $ 43,471 $ 39,748 $ 98,144 $ 94,838 Interest expense, net (10,559 ) (4,210 ) (25,288 ) (11,495 ) Other income, net 2,633 3,085 7,902 9,254 Earnings before income taxes $ 35,545 $ 38,623 $ 80,758 $ 92,597 |
Note 8 - Inventories
Note 8 - Inventories | 9 Months Ended |
Nov. 02, 2019 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | Note 8 Inventories The Company's net inventory balance was comprised of the following: ($ thousands) November 2, 2019 November 3, 2018 February 2, 2019 Raw materials $ 19,005 $ 18,002 $ 19,128 Work-in-process 422 496 745 Finished goods 625,219 679,767 663,298 Inventories, net $ 644,646 $ 698,265 $ 683,171 |
Note 9 - Goodwill and Intangibl
Note 9 - Goodwill and Intangible Assets | 9 Months Ended |
Nov. 02, 2019 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 9 Goodwill and Intangible Assets Goodwill and intangible assets were as follows: ($ thousands) November 2, 2019 November 3, 2018 February 2, 2019 Intangible Assets Famous Footwear $ 2,800 $ 2,800 $ 2,800 Brand Portfolio 388,288 448,288 388,288 Total intangible assets 391,088 451,088 391,088 Accumulated amortization (93,518 ) (80,581 ) (83,722 ) Total intangible assets, net 297,570 370,507 307,366 Goodwill Brand Portfolio 245,275 283,345 242,531 Total goodwill 245,275 283,345 242,531 Goodwill and intangible assets, net $ 542,845 $ 653,852 $ 549,897 As further described in Note 3 October 18, 2018. July 6, 2018. The Company's intangible assets as of November 2, 2019, November 3, 2018 February 2, 2019 ($ thousands) November 2, 2019 Estimated Useful Lives Cost Basis Accumulated Amortization Net Carrying Value Trademarks 15-40 years $ 288,788 $ 89,360 $ 199,428 Trademarks Indefinite 58,100 — 58,100 Customer relationships 15-16 years 44,200 4,158 40,042 $ 391,088 $ 93,518 $ 297,570 November 3, 2018 Estimated Useful Lives Cost Basis Accumulated Amortization Net Carrying Value Trademarks 15-40 years $ 288,788 $ 79,686 $ 209,102 Trademarks Indefinite 118,100 — 118,100 Customer relationships 15-20 years 44,200 895 43,305 $ 451,088 $ 80,581 $ 370,507 February 2, 2019 Estimated Useful Lives Cost Basis Accumulated Amortization Impairment Net Carrying Value Trademarks 15-40 years $ 288,788 $ 81,961 $ — $ 206,827 Trademarks Indefinite 118,100 — 60,000 58,100 Customer relationships 15-16 years 44,200 1,761 — 42,439 $ 451,088 $ 83,722 $ 60,000 $ 307,366 Amortization expense related to intangible assets was $3.3 million and $1.8 million for the thirteen November 2, 2019 November 3, 2018 thirty-nine November 2, 2019 November 3, 2018 2019, 2020, 2021, 2022 2023. As a result of its annual goodwill impairment testing in the fourth 2018, thirteen thirty-nine November 2, 2019. Indefinite-lived intangible assets are tested for impairment as of the first fourth fourth 2018 thirteen thirty-nine November 2, 2019 |
Note 10 - Leases
Note 10 - Leases | 9 Months Ended |
Nov. 02, 2019 | |
Notes to Financial Statements | |
Leases of Lessee Disclosure [Text Block] | Note 10 Leases The Company leases all of its retail locations, a manufacturing facility, and certain office locations, distribution centers and equipment. At contract inception, leases are evaluated and classified as either operating or finance leases. Leases with an initial term of 12 not Lease Term (years) Renewal Options Retail stores 5-10 Approximately 45% have options of varying periods Manufacturing facility 8 None Office facilities and distribution centers 10-15 5-20 years Equipment 1-6 None As further discussed in Note 2 first 2019, 842 not 840. not Lease right-of-use assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term. The majority of the Company’s leases do not The following is a summary of lease assets and liabilities on the condensed consolidated balance sheet at November 2, 2019 ($ thousands) November 2, 2019 Lease Classification Lease right-of-use assets $ 704,244 Current lease obligations (144,501 ) Noncurrent lease obligations (629,731 ) Net balance sheet impact $ (69,988 ) The weighted-average lease term and discount rate as of November 2, 2019 November 2, 2019 Weighted-average remaining lease term (in years) 6.8 Weighted-average discount rate 4.1 % During the thirty-nine November 2, 2019 November 2, 2019 four not The Company anticipates that the leases for all four $4.6 The components of lease expense for the thirteen thirty-nine November 2, 2019 Thirteen Weeks Ended Thirty-Nine Weeks Ended ($ thousands) November 2, 2019 November 2, 2019 Operating lease expense $ 47,068 $ 139,380 Variable lease expense 11,794 35,277 Short-term lease expense 577 2,654 Sublease income (73 ) (220 ) Total lease expense $ 59,366 $ 177,091 Future minimum rent payments under noncancelable leases with an initial term of one November 2, 2019 ($ thousands) Remainder of 2019 $ 48,312 2020 173,074 2021 146,124 2022 121,234 2023 101,674 2024 79,038 Thereafter 174,913 Total minimum lease payments (1) $ 844,369 Less imputed interest (70,137 ) Present value of lease obligations $ 774,232 ( 1 not Supplemental cash flow information related to leases is as follows: Thirty-Nine Weeks Ended ($ thousands) November 2, 2019 Cash paid for lease liabilities $ 136,497 Cash received from sublease income 220 |
Note 11 - Long-term and Short-t
Note 11 - Long-term and Short-term Financing Arrangements | 9 Months Ended |
Nov. 02, 2019 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 11 Long-term and Short-term Financing Arrangements Credit Agreement The Company maintains a revolving credit facility for working capital needs. On December 18, 2014, July 20, 2015 December 13, 2016 October 31, 2018, January 18, 2019, January 18, 2024 Borrowing availability under the Credit Agreement is limited to the lesser of the total commitments and the borrowing base ("Loan Cap"), which is based on stated percentages of the sum of eligible accounts receivable, eligible inventory and eligible credit card receivables, as defined, less applicable reserves. Under the Credit Agreement, the Loan Parties’ obligations are secured by a first Interest on borrowings is at variable rates based on the London Interbank Offered Rate (“LIBOR”) or the prime rate, as defined in the Credit Agreement, plus a spread. The interest rate and fees for letters of credit vary based upon the level of excess availability under the Credit Agreement. There is an unused line fee payable on the unused portion under the facility and a letter of credit fee payable on the outstanding face amount under letters of credit. The Credit Agreement limits the Company’s ability to create, incur, assume or permit to exist additional indebtedness and liens, make investments or specified payments, give guarantees, pay dividends, make capital expenditures and merge or acquire or sell assets. In addition, certain additional covenants would be triggered if excess availability were to fall below specified levels, including fixed charge coverage ratio requirements. Furthermore, if excess availability falls below the greater of 10.0% of the lesser of the Loan Cap and $40.0 million for three may 30 no 30 two 12 The Credit Agreement contains customary events of default, including, without limitation, payment defaults, breaches of representations and warranties, covenant defaults, cross-defaults to similar obligations, certain events of bankruptcy and insolvency, judgment defaults and the failure of any guaranty or security document supporting the agreement to be in full force and effect. In addition, if the excess availability falls below the greater of (i) 10.0% of the lesser of the Loan Cap and (ii) $40.0 million, and the fixed charge coverage ratio is less than 1.0 to 1.0, November 2, 2019 At November 2, 2019 November 2, 2019 $200 On July 27, 2015, 2023 February 15 August 15 August 15, 2023. may 12 August 15 Year Percentage 2019 103.125 % 2020 101.563 % 2021 and thereafter 100.000 % If the Company experiences specific kinds of changes of control, it would be required to offer to purchase the Senior Notes at a purchase price equal to 101% of the principal amount, plus accrued and unpaid interest and Additional Interest, if any, to, but not The Senior Notes also contain certain other covenants and restrictions that limit certain activities including, among other things, levels of indebtedness, payments of dividends, the guarantee or pledge of assets, certain investments, common stock repurchases, mergers and acquisitions and sales of assets. As of November 2, 2019 |
Note 12 - Shareholders' Equity
Note 12 - Shareholders' Equity | 9 Months Ended |
Nov. 02, 2019 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | Note 12 Shareholders’ Equity Accumulated Other Comprehensive Loss The following table sets forth the changes in accumulated other comprehensive loss (OCL) by component for the periods ended November 2, 2019 November 3, 2018 ($ thousands) Foreign Currency Translation Pension and Other Postretirement Transactions (1) Derivative Financial Instrument Transactions (2) Accumulated Other Comprehensive (Loss) Income Balance at August 3, 2019 $ (896 ) $ (30,199 ) $ (310 ) $ (31,405 ) Other comprehensive income before reclassifications 595 — 66 661 Reclassifications: Amounts reclassified from accumulated other comprehensive loss — 578 (4 ) 574 Tax (benefit) provision — (149 ) 1 (148 ) Net reclassifications — 429 (3 ) 426 Other comprehensive income 595 429 63 1,087 Balance at November 2, 2019 $ (301 ) $ (29,770 ) $ (247 ) $ (30,318 ) Balance at August 4, 2018 $ 176 $ (16,270 ) $ (675 ) $ (16,769 ) Other comprehensive income (loss) before reclassifications 14 — (415 ) (401 ) Reclassifications: Amounts reclassified from accumulated other comprehensive loss — 607 120 727 Tax benefit — (156 ) (25 ) (181 ) Net reclassifications — 451 95 546 Other comprehensive income (loss) 14 451 (320 ) 145 Balance at November 3, 2018 $ 190 $ (15,819 ) $ (995 ) $ (16,624 ) Balance at February 2, 2019 $ 62 $ (31,055 ) $ (608 ) $ (31,601 ) Other comprehensive (loss) income before reclassifications (363 ) — 160 (203 ) Reclassifications: Amounts reclassified from accumulated other comprehensive loss — 1,733 254 1,987 Tax benefit — (448 ) (53 ) (501 ) Net reclassifications — 1,285 201 1,486 Other comprehensive (loss) income (363 ) 1,285 361 1,283 Balance at November 2, 2019 $ (301 ) $ (29,770 ) $ (247 ) $ (30,318 ) Balance at February 3, 2018 $ 1,235 $ (17,172 ) $ 767 $ (15,170 ) Other comprehensive loss before reclassifications (1,045 ) — (1,648 ) (2,693 ) Reclassifications: Amounts reclassified from accumulated other comprehensive loss — 1,823 (147 ) 1,676 Tax (benefit) provision — (470 ) 33 (437 ) Net reclassifications — 1,353 (114 ) 1,239 Other comprehensive (loss) income (1,045 ) 1,353 (1,762 ) (1,454 ) Balance at November 3, 2018 $ 190 $ (15,819 ) $ (995 ) $ (16,624 ) ( 1 Amounts reclassified are included in other income, net. Refer to Note 14 ( 2 Amounts reclassified are included in net sales, costs of goods sold and selling and administrative expenses. Refer to Note 15 16 |
Note 13 - Share-based Compensat
Note 13 - Share-based Compensation | 9 Months Ended |
Nov. 02, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | Note 13 Share-Based Compensation The Company recognized share-based compensation expense of $2.4 million and $3.6 million during the thirteen thirty-nine November 2, 2019 November 3, 2018 The Company had net (repurchases) issuances of (69,377) and 17,225 shares of common stock during the thirteen November 2, 2019 November 3, 2018 thirty-nine November 2, 2019 November 3, 2018 Restricted Stock The following table summarizes restricted stock activity for the periods ended November 2, 2019 November 3, 2018 Thirteen Weeks Ended Thirteen Weeks Ended November 2, 2019 November 3, 2018 Total Number of Restricted Shares Weighted- Average Grant Date Fair Value Total Number of Restricted Shares Weighted- Average Grant Date Fair Value August 3, 2019 1,433,470 $ 27.09 August 4, 2018 1,205,898 $ 29.04 Granted 11,000 22.44 Granted 45,000 33.52 Forfeited (78,000 ) 30.75 Forfeited (27,650 ) 29.24 Vested (10,000 ) 32.85 Vested — — November 2, 2019 1,356,470 $ 26.80 November 3, 2018 1,223,248 $ 29.20 Thirty-Nine Weeks Ended Thirty-Nine Weeks Ended November 2, 2019 November 3, 2018 Total Number of Restricted Shares Weighted- Average Grant Date Fair Value Total Number of Restricted Shares Weighted- Average Grant Date Fair Value February 2, 2019 1,249,223 $ 29.17 February 3, 2018 1,174,801 $ 27.92 Granted 461,234 22.94 Granted 378,833 32.24 Forfeited (135,425 ) 29.91 Forfeited (44,950 ) 28.69 Vested (218,562 ) 30.25 Vested (285,436 ) 28.06 November 2, 2019 1,356,470 $ 26.80 November 3, 2018 1,223,248 $ 29.20 All of the restricted shares granted during the thirteen November 2, 2019 three thirty-nine November 2, 2019 one three thirteen November 3, 2018 three thirty-nine November 3, 2018 one four three Performance Share Awards During the thirteen November 2, 2019 November 3, 2018 thirty-nine November 2, 2019 November 3, 2018 three three Stock Options November 2, 2019 November 3, 2018 Thirteen Weeks Ended Thirteen Weeks Ended November 2, 2019 November 3, 2018 Total Number of Stock Options Weighted- Average Grant Date Fair Value Total Number of Stock Options Weighted- Average Grant Date Fair Value August 3, 2019 39,667 $ 8.84 August 4, 2018 44,667 $ 8.32 Granted — — Granted — — Exercised (2,000 ) 4.64 Exercised — — Forfeited — — Forfeited — — Expired — — Expired — — November 2, 2019 37,667 $ 9.06 November 3, 2018 44,667 $ 8.32 Thirty-Nine Weeks Ended Thirty-Nine Weeks Ended November 2, 2019 November 3, 2018 Total Number of Stock Options Weighted- Average Grant Date Fair Value Total Number of Stock Options Weighted- Average Grant Date Fair Value February 2, 2019 42,667 $ 8.64 February 3, 2018 81,042 $ 6.28 Granted — — Granted — — Exercised (3,000 ) 6.00 Exercised (32,375 ) 3.52 Forfeited (2,000 ) 4.57 Forfeited — — Expired — — Expired (4,000 ) 5.80 November 2, 2019 37,667 $ 9.06 November 3, 2018 44,667 $ 8.32 Restricted Stock Units for Non-Employee Directors Equity-based grants may no thirteen November 2, 2019 November 3, 2018 thirty-nine November 2, 2019 November 3, 2018 |
Note 14 - Retirement and Other
Note 14 - Retirement and Other Benefit Plans | 9 Months Ended |
Nov. 02, 2019 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | Note 14 Retirement and Other Benefit Plans The following table sets forth the components of net periodic benefit income for the Company, including domestic and Canadian plans: Pension Benefits Other Postretirement Benefits Thirteen Weeks Ended Thirteen Weeks Ended ($ thousands) November 2, 2019 November 3, 2018 November 2, 2019 November 3, 2018 Service cost $ 1,805 $ 2,240 $ — $ — Interest cost 3,707 3,546 15 15 Expected return on assets (6,933 ) (7,253 ) — — Amortization of: Actuarial loss (gain) 977 1,030 (27 ) (31 ) Prior service income (372 ) (392 ) — — Total net periodic benefit income $ (816 ) $ (829 ) $ (12 ) $ (16 ) Pension Benefits Other Postretirement Benefits Thirty-Nine Weeks Ended Thirty-Nine Weeks Ended ($ thousands) November 2, 2019 November 3, 2018 November 2, 2019 November 3, 2018 Service cost $ 5,414 $ 6,717 $ — $ — Interest cost 11,112 10,636 45 44 Expected return on assets (20,792 ) (21,757 ) — — Amortization of: Actuarial loss (gain) 2,929 3,092 (81 ) (93 ) Prior service income (1,115 ) (1,176 ) — — Total net periodic benefit income $ (2,452 ) $ (2,488 ) $ (36 ) $ (49 ) The non-service cost components of net periodic benefit income are included in other income, net in the condensed consolidated statements of earnings. Service cost is included in selling and administrative expenses. |
Note 15 - Risk Management and D
Note 15 - Risk Management and Derivatives | 9 Months Ended |
Nov. 02, 2019 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 15 Risk Management and Derivatives In the normal course of business, the Company’s financial results are impacted by currency rate movements in foreign currency denominated assets, liabilities and cash flows as it makes a portion of its purchases and sales in local currencies. The Company has established policies and business practices that are intended to mitigate a portion of the effect of these exposures. The Company uses derivative financial instruments, primarily forward contracts, to manage its currency exposures. These derivative financial instruments are viewed as risk management tools and are not Derivative financial instruments expose the Company to credit and market risk. The market risk associated with these instruments resulting from currency exchange movements is expected to offset the market risk of the underlying transactions being hedged. The Company does not May 2020. The Company’s hedging strategy uses forward contracts as cash flow hedging instruments, which are recorded in the Company's condensed consolidated balance sheets at fair value. The effective portion of gains and losses resulting from changes in the fair value of these hedge instruments are deferred in accumulated other comprehensive loss and reclassified to earnings in the period that the hedged transaction is recognized in earnings. As of November 2, 2019, November 3, 2018 February 2, 2019 May 2020, November 2019, January 2020, (U.S. $ equivalent in thousands) November 2, 2019 November 3, 2018 February 2, 2019 Financial Instruments Euro $ 3,235 $ 13,480 $ 13,383 U.S. dollars (purchased by the Company’s Canadian division with Canadian dollars) 5,763 13,877 15,196 Chinese yuan 2,905 6,570 4,507 New Taiwanese dollars — 530 461 Other currencies 139 388 382 Total financial instruments $ 12,042 $ 34,845 $ 33,929 The classification and fair values of derivative instruments designated as hedging instruments included within the condensed consolidated balance sheets as of November 2, 2019, November 3, 2018 February 2, 2019 Asset Derivatives Liability Derivatives ($ thousands) Balance Sheet Location Fair Value Balance Sheet Location Fair Value Foreign Exchange Forward Contracts November 2, 2019 Prepaid expenses and other current assets 17 Other accrued expenses 325 November 3, 2018 Prepaid expenses and other current assets 203 Other accrued expenses 1,414 February 2, 2019 Prepaid expenses and other current assets 159 Other accrued expenses 745 For the thirteen thirty-nine November 2, 2019 November 3, 2018 Thirteen Weeks Ended Thirteen Weeks Ended ($ thousands) November 2, 2019 November 3, 2018 Foreign Exchange Forward Contracts: Income Statement Classification Gains (Losses) - Realized Gain (Loss) Recognized in OCL on Derivatives Gain Reclassified from Accumulated OCL into Earnings Loss Recognized in OCL on Derivatives Gain (Loss) Reclassified from Accumulated OCL into Earnings Net sales $ 69 $ 2 $ (78 ) $ — Cost of goods sold 38 — (286 ) 26 Selling and administrative expenses (33 ) 2 (152 ) (146 ) Thirty-Nine Weeks Ended Thirty-Nine Weeks Ended ($ thousands) November 2, 2019 November 3, 2018 Foreign Exchange Forward Contracts: Income Statement Classification (Losses) Gains - Realized (Loss) Gain Recognized in OCL on Derivatives Loss Reclassified from Accumulated OCL into Earnings Loss Recognized in OCL on Derivatives (Loss) Gain Reclassified from Accumulated OCL into Earnings Net sales $ (51 ) $ (3 ) $ (120 ) $ (4 ) Cost of goods sold 390 (38 ) (970 ) (37 ) Selling and administrative expenses (147 ) (213 ) (955 ) 188 All gains and losses currently included within accumulated other comprehensive loss associated with the Company’s foreign exchange forward contracts are expected to be reclassified into net earnings within the next 12 16 |
Note 16 - Fair Value Measuremen
Note 16 - Fair Value Measurements | 9 Months Ended |
Nov. 02, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Fair Value Hierarchy Fair value measurement disclosure requirements specify a hierarchy of valuation techniques based upon whether the inputs to those valuation techniques reflect assumptions other market participants would use based upon market data obtained from independent sources (“observable inputs”) or reflect the Company’s own assumptions of market participant valuation (“unobservable inputs”). In accordance with the fair value guidance, the inputs to valuation techniques used to measure fair value are categorized into three • Level 1 • Level 2 not • Level 3 In determining fair value, the Company uses valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Company also considers counterparty credit risk in its assessment of fair value. Classification of the financial or non-financial asset or liability within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. Measurement of Fair Value The Company measures fair value as an exit price, the price to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date, using the procedures described below for all financial and non-financial assets and liabilities measured at fair value. Money Market Funds The Company has cash equivalents consisting of short-term money market funds backed by U.S. Treasury securities. The primary objective of these investing activities is to preserve the Company’s capital for the purpose of funding operations and it does not 1 Non-Qualified Deferred Compensation Plan Assets and Liabilities The Company maintains a non-qualified deferred compensation plan (the “Deferred Compensation Plan”) for the benefit of certain management employees. The investment funds offered to the participants generally correspond to the funds offered in the Company’s 401 1 Deferred Compensation Plan for Non-Employee Directors Non-employee directors are eligible to participate in a deferred compensation plan with deferred amounts valued as if invested in the Company’s common stock through the use of phantom stock units (“PSUs”). Under the plan, each participating director’s account is credited with the number of PSUs equal to the number of shares of the Company’s common stock that the participant could purchase or receive with the amount of the deferred compensation, based upon the average of the high and low prices of the Company’s common stock on the last trading day of the fiscal quarter when the cash compensation was earned. Dividend equivalents are paid on PSUs at the same rate as dividends on the Company’s common stock and are re-invested in additional PSUs at the next fiscal quarter-end. The liabilities of the plan are based on the fair value of the outstanding PSUs and are presented in other accrued expenses (current portion) or other liabilities in the accompanying condensed consolidated balance sheets. Gains and losses resulting from changes in the fair value of the PSUs are presented in selling and administrative expenses in the Company’s condensed consolidated statements of earnings. The fair value of each PSU is based on an unadjusted quoted market price for the Company’s common stock in an active market with sufficient volume and frequency on each measurement date (Level 1 Restricted Stock Units for Non-Employee Directors Under the Company’s incentive compensation plans, cash-equivalent restricted stock units (“RSUs”) of the Company were previously granted at no one may 1 13 Derivative Financial Instruments The Company uses derivative financial instruments, primarily foreign exchange contracts, to reduce its exposure to market risks from changes in foreign exchange rates. These foreign exchange contracts are measured at fair value using quoted forward foreign exchange prices from counterparties corroborated by market-based pricing (Level 2 15 Mandatory Purchase Obligation The Company recorded a mandatory purchase obligation of the noncontrolling interest in conjunction with the acquisition of Blowfish Malibu in July 2018. 3 thirteen thirty-nine November 2, 2019 thirteen thirty-nine November 3, 2018. 3 The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis at November 2, 2019, November 3, 2018 February 2, 2019 not 1, 2 3 thirty-nine November 2, 2019 November 3, 2018 Fair Value Measurements ($ thousands) Total Level 1 Level 2 Level 3 Asset (Liability) November 2, 2019: Non-qualified deferred compensation plan assets $ 8,117 $ 8,117 $ — $ — Non-qualified deferred compensation plan liabilities (8,117 ) (8,117 ) — — Deferred compensation plan liabilities for non-employee directors (1,879 ) (1,879 ) — — Restricted stock units for non-employee directors (3,282 ) (3,282 ) — — Derivative financial instruments, net (308 ) — (308 ) — Mandatory purchase obligation - Blowfish Malibu (13,655 ) — — (13,655 ) November 3, 2018: Cash equivalents – money market funds $ 56,668 $ 56,668 $ — $ — Non-qualified deferred compensation plan assets 7,723 7,223 — — Non-qualified deferred compensation plan liabilities (7,723 ) (7,223 ) — — Deferred compensation plan liabilities for non-employee directors (2,772 ) (2,772 ) — — Restricted stock units for non-employee directors (5,395 ) (5,395 ) — — Derivative financial instruments, net (1,211 ) — (1,211 ) — Mandatory purchase obligation - Blowfish Malibu (9,138 ) — — (9,138 ) February 2, 2019: Cash equivalents – money market funds $ 4,582 $ 4,582 $ — $ — Non-qualified deferred compensation plan assets 7,270 7,270 — — Non-qualified deferred compensation plan liabilities (7,270 ) (7,270 ) — — Deferred compensation plan liabilities for non-employee directors (2,364 ) (2,364 ) — — Restricted stock units for non-employee directors (4,419 ) (4,419 ) — — Derivative financial instruments, net (586 ) — (586 ) — Mandatory purchase obligation - Blowfish Malibu (9,245 ) — — (9,245 ) Impairment Charges The Company assesses the impairment of long-lived assets whenever events or changes in circumstances indicate that the carrying value may not may not one 3 820, Fair Value Measurement November 2, 2019 November 3, 2018 Thirteen Weeks Ended Thirty-Nine Weeks Ended ($ thousands) November 2, 2019 November 3, 2018 November 2, 2019 November 3, 2018 Impairment Charges Famous Footwear $ 769 $ 150 $ 1,509 $ 450 Brand Portfolio 1,382 957 3,596 1,590 Total impairment charges $ 2,151 $ 1,107 $ 5,105 $ 2,040 Adoption of ASC 842 Fair Value of the Company’s Other Financial Instruments The fair values of cash and cash equivalents (excluding money market funds discussed above), receivables and trade accounts payable approximate their carrying values due to the short-term nature of these instruments. The carrying amounts and fair values of the Company's other financial instruments subject to fair value disclosures are as follows: November 2, 2019 November 3, 2018 February 2, 2019 Carrying Fair Carrying Fair Carrying Fair ($ thousands) Value (1) Value Value (1) Value Value (1) Value Borrowings under revolving credit agreement $ 295,000 $ 295,000 $ 350,000 $ 350,000 $ 335,000 $ 335,000 Long-term debt 200,000 206,200 200,000 203,500 200,000 205,500 Total debt $ 495,000 $ 501,200 $ 550,000 $ 553,500 $ 535,000 $ 540,500 ( 1 The fair value of borrowings under the revolving credit agreement approximates its carrying value due to its short-term nature (Level 1 2 |
Note 17 - Income Taxes
Note 17 - Income Taxes | 9 Months Ended |
Nov. 02, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 17 Income Taxes The Company’s consolidated effective tax rates were 21.9% and 24.5% for the thirteen November 2, 2019 November 3, 2018 thirteen November 2, 2019 November 3, 2018 For the thirty-nine November 2, 2019 November 3, 2018, thirty-nine November 3, 2018, 2017 not thirty-nine November 3, 2018 As of November 2, 2019 not one not not may not |
Note 18 - Commitments and Conti
Note 18 - Commitments and Contingencies | 9 Months Ended |
Nov. 02, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 18 Commitments and Contingencies Environmental Remediation Prior operations included numerous manufacturing and other facilities for which the Company may may may Redfield The Company is remediating, under the oversight of Colorado authorities, the groundwater and indoor air at its owned facility in Colorado (the “Redfield site” or, when referring to remediation activities at or under the facility, the “on-site remediation”) and residential neighborhoods adjacent to and near the property (the “off-site remediation”) that have been affected by solvents previously used at the facility. The on-site remediation calls for the operation of a pump and treat system (which prevents migration of contaminated groundwater off the property) as the final remedy for the site, subject to monitoring and periodic review of the on-site conditions and other remedial technologies that may 2016, As the treatment of the on-site source areas progresses, the Company expects to convert the pump and treat system to a passive treatment barrier system. Off-site groundwater concentrations have been reducing over time since installation of the pump and treat system in 2000 2003. 2015. The cumulative expenditures for both on-site and off-site remediation through November 2, 2019 million. The Company has recovered a portion of these expenditures from insurers and other third November 2, 2019 is $9.7 million, of which $9.0 million is recorded within other liabilities and $0.7 million is recorded within other accrued expenses. Of the total $9.7 November 2, 2019 . The Company expects to spend approximately $0.5 million in 2019, four Other Various federal and state authorities have identified the Company as a potentially responsible party for remediation at certain other sites. However, the Company does not The Company continues to evaluate its remediation plans in conjunction with its environmental consultants and records its best estimate of remediation liabilities. However, future actions and the associated costs are subject to oversight and approval of various governmental authorities. Accordingly, the ultimate costs may may Litigation The Company is involved in legal proceedings and litigation arising in the ordinary course of business. In the opinion of management, the outcome of such ordinary course of business proceedings and litigation currently pending is not |
Note 19 - Financial Information
Note 19 - Financial Information for the Company and its Subsidiaries | 9 Months Ended |
Nov. 02, 2019 | |
Notes to Financial Statements | |
Financial Information For Company and Its Subsidiaries [Text Block] | Note 19 Financial Information for the Company and its Subsidiaries The Company issued senior notes, which are fully and unconditionally and jointly and severally guaranteed by all of its existing and future subsidiaries that are guarantors under the Company's revolving credit facility ("Credit Agreement"). The following tables present the condensed consolidating financial information for each of Caleres, Inc. (“Parent”), the Guarantors, and subsidiaries of the Parent that are not October 31, 2018, The condensed consolidating financial statements have been prepared using the equity method of accounting in accordance with the requirements for presentation of such information. Management believes that the information, presented in lieu of complete financial statements for each of the Guarantors, provides meaningful information to allow investors to determine the nature of the assets held by, and operations and cash flows of, each of the consolidated groups. UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET November 2, 2019 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Assets Current assets Cash and cash equivalents $ 2,487 $ 20,040 $ 29,975 $ — $ 52,502 Receivables, net 108,118 30,427 17,708 — 156,253 Inventories, net 133,258 476,687 34,701 — 644,646 Prepaid expenses and other current assets 28,534 14,494 5,217 — 48,245 Intercompany receivable – current 144 96 10,611 (10,851 ) — Total current assets 272,541 541,744 98,212 (10,851 ) 901,646 Other assets 79,868 11,131 1,215 — 92,214 Goodwill and intangible assets, net 107,217 328,562 107,066 — 542,845 Lease right-of-use assets 123,490 548,639 32,115 — 704,244 Property and equipment, net 76,550 143,402 10,309 — 230,261 Investment in subsidiaries 1,560,733 — (25,950 ) (1,534,783 ) — Intercompany receivable – noncurrent 602,934 640,835 800,327 (2,044,096 ) — Total assets $ 2,823,333 $ 2,214,313 $ 1,023,294 $ (3,589,730 ) $ 2,471,210 Liabilities and Equity Current liabilities Borrowings under revolving credit agreement $ 295,000 $ — $ — $ — $ 295,000 Trade accounts payable 115,407 128,490 31,802 — 275,699 Lease obligations 11,450 126,438 6,613 — 144,501 Other accrued expenses 65,810 91,013 22,207 — 179,030 Intercompany payable – current 5,343 — 5,508 (10,851 ) — Total current liabilities 493,010 345,941 66,130 (10,851 ) 894,230 Other liabilities Noncurrent lease obligations 126,347 472,579 30,805 — 629,731 Long-term debt 198,276 — — — 198,276 Other liabilities 92,293 2,399 931 — 95,623 Intercompany payable – noncurrent 1,262,567 114,458 667,071 (2,044,096 ) — Total other liabilities 1,679,483 589,436 698,807 (2,044,096 ) 923,630 Equity Caleres, Inc. shareholders’ equity 650,840 1,278,936 255,847 (1,534,783 ) 650,840 Noncontrolling interests — — 2,510 — 2,510 Total equity 650,840 1,278,936 258,357 (1,534,783 ) 653,350 Total liabilities and equity $ 2,823,333 $ 2,214,313 $ 1,023,294 $ (3,589,730 ) $ 2,471,210 UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME FOR THE thirteen November 2, 2019 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Net sales $ 223,640 $ 563,398 $ 59,062 $ (53,725 ) $ 792,375 Cost of goods sold 148,245 340,009 30,127 (45,776 ) 472,605 Gross profit 75,395 223,389 28,935 (7,949 ) 319,770 Selling and administrative expenses 61,728 204,612 16,939 (7,949 ) 275,330 Restructuring and other special charges, net 969 - - - 969 Operating (loss) earnings 12,698 18,777 11,996 - 43,471 Interest (expense) income (10,564 ) (25 ) 30 - (10,559 ) Other income (expense) 2,653 - (20 ) - 2,633 Intercompany interest income (expense) 2,660 (2,709 ) 49 - - (Loss) earnings before income taxes 7,447 16,043 12,055 - 35,545 Income tax benefit (provision) (2,776 ) (3,651 ) (1,357 ) - (7,784 ) Equity in earnings (loss) of subsidiaries, net of tax 23,316 - (488 ) (22,828 ) - Net earnings 27,987 12,392 10,210 (22,828 ) 27,761 Less: Net loss attributable to noncontrolling interests - - (226 ) - (226 ) Net earnings attributable to Caleres, Inc. $ 27,987 $ 12,392 $ 10,436 $ (22,828 ) $ 27,987 Comprehensive income $ 29,074 $ 12,445 $ 10,718 $ (23,402 ) $ 28,835 Less: Comprehensive loss attributable to noncontrolling interests - - (239 ) - (239 ) Comprehensive income attributable to Caleres, Inc. $ 29,074 $ 12,445 $ 10,957 $ (23,402 ) $ 29,074 UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME FOR THE thirty-nine November 2, 2019 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Net sales $ 623,292 $ 1,584,601 $ 194,233 $ (179,512 ) $ 2,222,614 Cost of goods sold 426,872 940,140 101,464 (151,412 ) 1,317,064 Gross profit 196,420 644,461 92,769 (28,100 ) 905,550 Selling and administrative expenses 181,662 600,020 51,390 (28,100 ) 804,972 Restructuring and other special charges, net 2,434 — — — 2,434 Operating earnings 12,324 44,441 41,379 — 98,144 Interest (expense) income (25,294 ) (77 ) 83 — (25,288 ) Other income (expense) 7,960 — (58 ) — 7,902 Intercompany interest income (expense) 8,231 (8,292 ) 61 — - Earnings before income taxes 3,221 36,072 41,465 — 80,758 Income tax provision (3,159 ) (9,393 ) (6,133 ) — (18,685 ) Equity in earnings (loss) of subsidiaries, net of tax 62,349 — (1,111 ) (61,238 ) - Net earnings 62,411 26,679 34,221 (61,238 ) 62,073 Less: Net loss attributable to noncontrolling interests — — (338 ) — (338 ) Net earnings attributable to Caleres, Inc. $ 62,411 $ 26,679 $ 34,559 $ (61,238 ) $ 62,411 Comprehensive income $ 63,694 $ 26,641 $ 33,772 $ (60,785 ) $ 63,322 Less: Comprehensive loss attributable to noncontrolling interests — — (372 ) — (372 ) Comprehensive income attributable to Caleres, Inc. $ 63,694 $ 26,641 $ 34,144 $ (60,785 ) $ 63,694 UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE thirty-nine November 2, 2019 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Net cash provided by operating activities $ 15,776 $ 79,884 $ 50,077 $ — $ 145,737 Investing activities Purchases of property and equipment (20,965 ) (14,365 ) (2,024 ) — (37,354 ) Disposals of property and equipment 636 — — — 636 Capitalized software (4,696 ) (197 ) — — (4,893 ) Intercompany investing (337 ) 337 — — — Net cash used for investing activities (25,362 ) (14,225 ) (2,024 ) — (41,611 ) Financing activities Borrowings under revolving credit agreement 237,000 — — — 237,000 Repayments under revolving credit agreement (277,000 ) — — — (277,000 ) Dividends paid (8,631 ) — — — (8,631 ) Acquisition of treasury stock (31,168 ) — — — (31,168 ) Issuance of common stock under share-based plans, net (2,605 ) — — — (2,605 ) Contributions by noncontrolling interests 1,500 1,500 Other (84 ) (938 ) — — (1,022 ) Intercompany financing 94,559 (53,829 ) (40,730 ) — — Net cash used for financing activities 12,071 (54,767 ) (39,230 ) — (81,926 ) Effect of exchange rate changes on cash and cash equivalents — — 102 — 102 Increase in cash and cash equivalents 2,485 10,892 8,925 — 22,302 Cash and cash equivalents at beginning of period 2 9,148 21,050 — 30,200 Cash and cash equivalents at end of period $ 2,487 $ 20,040 $ 29,975 $ — $ 52,502 UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET November 3, 2018 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Assets Current assets Cash and cash equivalents $ 4,012 $ 11,817 $ 74,662 $ — $ 90,491 Receivables, net 145,363 30,040 16,843 — 192,246 Inventories, net 154,706 513,448 30,111 — 698,265 Prepaid expenses and other current assets 34,621 33,869 6,020 (11,344 ) 63,166 Intercompany receivable – current 291 137 8,038 (8,466 ) — Total current assets 338,993 589,311 135,674 (19,810 ) 1,044,168 Other assets 78,640 12,330 1,309 — 92,279 Goodwill and intangible assets, net 109,441 335,419 208,992 — 653,852 Property and equipment, net 43,761 163,019 11,323 — 218,103 Investment in subsidiaries 1,576,825 — (24,821 ) (1,552,004 ) — Intercompany receivable – noncurrent 583,048 560,563 745,589 (1,889,200 ) — Total assets $ 2,730,708 $ 1,660,642 $ 1,078,066 $ (3,461,014 ) $ 2,008,402 Liabilities and Equity Current liabilities Borrowings under revolving credit agreement $ 350,000 $ — $ — $ — $ 350,000 Trade accounts payable 141,012 151,127 25,360 — 317,499 Other accrued expenses 85,253 111,490 24,080 (11,344 ) 209,479 Intercompany payable – current 3,363 — 5,103 (8,466 ) — Total current liabilities 579,628 262,617 54,543 (19,810 ) 876,978 Other liabilities Long-term debt 197,817 — — — 197,817 Other liabilities 119,291 42,185 5,046 — 166,522 Intercompany payable – noncurrent 1,068,219 95,440 725,541 (1,889,200 ) — Total other liabilities 1,385,327 137,625 730,587 (1,889,200 ) 364,339 Equity Caleres, Inc. shareholders’ equity 765,753 1,260,400 291,604 (1,552,004 ) 765,753 Noncontrolling interests — — 1,332 — 1,332 Total equity 765,753 1,260,400 292,936 (1,552,004 ) 767,085 Total liabilities and equity $ 2,730,708 $ 1,660,642 $ 1,078,066 $ (3,461,014 ) $ 2,008,402 UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME FOR THE thirteen November 3, 2018 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Net sales $ 240,295 $ 540,379 $ 62,672 $ (67,517 ) $ 775,829 Cost of goods sold 163,609 325,966 32,262 (56,618 ) 465,219 Gross profit 76,686 214,413 30,410 (10,899 ) 310,610 Selling and administrative expenses 64,766 195,318 16,337 (10,899 ) 265,522 Restructuring and other special charges, net 4,831 509 — — 5,340 Operating earnings 7,089 18,586 14,073 — 39,748 Interest (expense) income (4,484 ) — 274 — (4,210 ) Other income (expense) 3,101 — (16 ) — 3,085 Intercompany interest income (expense) 2,976 (2,951 ) (25 ) — — Earnings before income taxes 8,682 15,635 14,306 — 38,623 Income tax provision (3,012 ) (4,122 ) (2,334 ) — (9,468 ) Equity in earnings (loss) of subsidiaries, net of tax 23,483 — (662 ) (22,821 ) — Net earnings 29,153 11,513 11,310 (22,821 ) 29,155 Less: Net earnings attributable to noncontrolling interests — — 2 — 2 Net earnings attributable to Caleres, Inc. $ 29,153 $ 11,513 $ 11,308 $ (22,821 ) $ 29,153 Comprehensive income $ 29,309 $ 11,451 $ 11,362 $ (22,822 ) $ 29,300 Less: Comprehensive loss attributable to noncontrolling interests — — (9 ) — (9 ) Comprehensive income attributable to Caleres, Inc. $ 29,309 $ 11,451 $ 11,371 $ (22,822 ) $ 29,309 UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME FOR THE thirty-nine November 3, 2018 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Net sales $ 651,807 $ 1,487,877 $ 164,829 $ (189,930 ) $ 2,114,583 Cost of goods sold 448,832 862,345 83,538 (158,765 ) 1,235,950 Gross profit 202,975 625,532 81,291 (31,165 ) 878,633 Selling and administrative expenses 204,696 558,714 42,310 (31,165 ) 774,555 Restructuring and other special charges, net 5,679 3,561 — — 9,240 Operating (loss) earnings (7,400 ) 63,257 38,981 — 94,838 Interest (expense) income (12,108 ) (25 ) 638 — (11,495 ) Other income (expense) 9,305 — (51 ) — 9,254 Intercompany interest income (expense) 8,617 (8,650 ) 33 — — (Loss) earnings before income taxes (1,586 ) 54,582 39,601 — 92,597 Income tax provision (2,065 ) (14,257 ) (6,329 ) — (22,651 ) Equity in earnings (loss) of subsidiaries, net of tax 73,662 — (1,256 ) (72,406 ) — Net earnings 70,011 40,325 32,016 (72,406 ) 69,946 Less: Net loss attributable to noncontrolling interests — — (65 ) — (65 ) Net earnings attributable to Caleres, Inc. $ 70,011 $ 40,325 $ 32,081 $ (72,406 ) $ 70,011 Comprehensive income $ 68,633 $ 40,235 $ 31,824 $ (72,200 ) $ 68,492 Less: Comprehensive loss attributable to noncontrolling interests — — (141 ) — (141 ) Comprehensive income attributable to Caleres, Inc. $ 68,633 $ 40,235 $ 31,965 $ (72,200 ) $ 68,633 UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE thirty-nine November 3, 2018 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Net cash provided by operating activities $ 2,739 $ 76,601 $ 15,070 $ — $ 94,410 Investing activities Purchases of property and equipment (14,094 ) (19,571 ) (1,579 ) — (35,244 ) Capitalized software (3,077 ) (428 ) — — (3,505 ) Acquisition of Blowfish Malibu, net of cash received (17,284 ) — — — (17,284 ) Acquisition of Vionic, net of cash received (344,942 ) — — — (344,942 ) Intercompany investing 2 (2 ) — — — Net cash used for investing activities (379,395 ) (20,001 ) (1,579 ) — (400,975 ) Financing activities Borrowings under revolving credit agreement 360,000 — — — 360,000 Repayments under revolving credit agreement (10,000 ) — — — (10,000 ) Repayments under capital lease obligations — (114 ) — — (114 ) Dividends paid (9,059 ) — — — (9,059 ) Acquisition of treasury stock (3,288 ) — — — (3,288 ) Issuance of common stock under share-based plans, net (4,318 ) — — — (4,318 ) Intercompany financing 21,244 (44,669 ) 23,425 — — Net cash provided by (used for) financing activities 354,579 (44,783 ) 23,425 — 333,221 Effect of exchange rate changes on cash and cash equivalents — — (212 ) — (212 ) (Decrease) increase in cash and cash equivalents (22,077 ) 11,817 36,704 — 26,444 Cash and cash equivalents at beginning of period 26,089 — 37,958 — 64,047 Cash and cash equivalents at end of period $ 4,012 $ 11,817 $ 74,662 $ — $ 90,491 CONDENSED CONSOLIDATING BALANCE SHEET February 2, 2019 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Assets Current assets Cash and cash equivalents $ 2 $ 9,148 $ 21,050 $ — $ 30,200 Receivables, net 130,684 32,319 28,719 — 191,722 Inventories, net 175,697 470,610 36,864 — 683,171 Prepaid expenses and other current assets 31,195 32,556 7,603 — 71,354 Intercompany receivable – current 190 42 15,279 (15,511 ) — Total current assets 337,768 544,675 109,515 (15,511 ) 976,447 Other assets 68,707 11,824 909 — 81,440 Goodwill and intangible assets, net 108,884 331,810 109,203 — 549,897 Property and equipment, net 62,608 157,270 10,906 — 230,784 Investment in subsidiaries 1,499,209 — (24,838 ) (1,474,371 ) — Intercompany receivable – noncurrent 597,515 578,821 762,281 (1,938,617 ) — Total assets $ 2,674,691 $ 1,624,400 $ 967,976 $ (3,428,499 ) $ 1,838,568 Liabilities and Equity Current liabilities Borrowings under revolving credit agreement $ 335,000 $ — $ — $ — $ 335,000 Trade accounts payable 146,400 130,670 39,228 — 316,298 Other accrued expenses 95,498 86,015 20,525 — 202,038 Intercompany payable – current 10,781 — 4,730 (15,511 ) — Total current liabilities 587,679 216,685 64,483 (15,511 ) 853,336 Other liabilities Long-term debt 197,932 — — — 197,932 Other liabilities 105,689 41,149 5,027 — 151,865 Intercompany payable – noncurrent 1,149,338 115,114 674,165 (1,938,617 ) — Total other liabilities 1,452,959 156,263 679,192 (1,938,617 ) 349,797 Equity Caleres, Inc. shareholders’ equity 634,053 1,251,452 222,919 (1,474,371 ) 634,053 Noncontrolling interests — — 1,382 — 1,382 Total equity 634,053 1,251,452 224,301 (1,474,371 ) 635,435 Total liabilities and equity $ 2,674,691 $ 1,624,400 $ 967,976 $ (3,428,499 ) $ 1,838,568 |
Note 3 - Acquisitions (Tables)
Note 3 - Acquisitions (Tables) | 9 Months Ended |
Nov. 02, 2019 | |
Notes Tables | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | ($ thousands) October 18, 2018 ASSETS Current assets: Cash and cash equivalents $ 8,024 Receivables 32,319 Inventories 58,332 Prepaid expense and other current assets 3,618 Total current assets 102,293 Goodwill 151,281 Intangible assets 144,700 Property and equipment 6,864 Total assets $ 405,138 LIABILITIES AND EQUITY Current liabilities: Trade accounts payable $ 19,679 Other accrued expenses 21,228 Total current liabilities 40,907 Other liabilities 3,541 Total liabilities 44,448 Net assets $ 360,690 |
Note 4 - Revenues (Tables)
Note 4 - Revenues (Tables) | 9 Months Ended |
Nov. 02, 2019 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Thirteen Weeks Ended November 2, 2019 ($ thousands) Famous Footwear Brand Portfolio Eliminations and Other Total Retail stores $ 401,943 $ 40,621 $ — $ 442,564 Landed wholesale-e-commerce/drop ship (1) — 85,957 — 85,957 Landed wholesale - other — 177,146 (14,071 ) 163,075 First-cost wholesale — 16,124 — 16,124 First-cost wholesale - e-commerce (1) — 354 — 354 E-commerce - Company websites (1) 44,489 36,692 — 81,181 Licensing and royalty — 2,908 — 2,908 Other (2) 151 61 — 212 Net sales $ 446,583 $ 359,863 $ (14,071 ) $ 792,375 Thirteen Weeks Ended November 3, 2018 ($ thousands) Famous Footwear Brand Portfolio Eliminations and Other Total Retail stores $ 408,248 $ 43,186 $ — $ 451,434 Landed wholesale-e-commerce/drop ship (1) — 66,698 — 66,698 Landed wholesale - other — 175,509 (15,968 ) 159,541 First-cost wholesale — 21,345 — 21,345 First-cost wholesale - e-commerce (1) — 422 — 422 E-commerce - Company websites (1) 40,383 32,000 — 72,383 Licensing and royalty — 3,810 — 3,810 Other (2) 134 62 — 196 Net sales $ 448,765 $ 343,032 $ (15,968 ) $ 775,829 Thirty-Nine Weeks Ended November 2, 2019 ($ thousands) Famous Footwear Brand Portfolio Eliminations and Other Total Retail stores $ 1,108,200 $ 115,819 $ — $ 1,224,019 Landed wholesale-e-commerce/drop ship (1) — 212,927 — 212,927 Landed wholesale - other — 549,321 (56,463 ) 492,858 First-cost wholesale — 66,826 — 66,826 First-cost wholesale - e-commerce (1) — 1,528 — 1,528 E-commerce - Company websites (1) 109,954 102,637 — 212,591 Licensing and royalty — 11,234 — 11,234 Other (2) 435 196 — 631 Net sales $ 1,218,589 $ 1,060,488 $ (56,463 ) $ 2,222,614 Thirty-Nine Weeks Ended November 3, 2018 ($ thousands) Famous Footwear Brand Portfolio Eliminations and Other Total Retail stores $ 1,147,512 $ 129,557 $ — $ 1,277,069 Landed wholesale-e-commerce/drop ship (1) — 160,617 — 160,617 Landed wholesale - other — 479,173 (58,615 ) 420,558 First-cost wholesale — 61,910 — 61,910 First-cost wholesale - e-commerce (1) — 583 — 583 E-commerce - Company websites (1) 93,729 87,390 — 181,119 Licensing and royalty — 12,104 — 12,104 Other (2) 407 216 — 623 Net sales $ 1,241,648 $ 931,550 $ (58,615 ) $ 2,114,583 |
Contract with Customer, Asset and Liability [Table Text Block] | ($ thousands) November 2, 2019 November 3, 2018 February 2, 2019 Customer allowances and discounts $ 25,762 $ 23,835 $ 25,090 Loyalty programs liability 17,274 16,299 14,637 Returns reserve 15,040 15,373 13,841 Gift card liability 4,794 4,169 5,426 |
Note 5 - Earnings Per Share (Ta
Note 5 - Earnings Per Share (Tables) | 9 Months Ended |
Nov. 02, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Thirteen Weeks Ended Thirty-Nine Weeks Ended ($ thousands, except per share amounts) November 2, 2019 November 3, 2018 November 2, 2019 November 3, 2018 NUMERATOR Net earnings $ 27,761 $ 29,155 $ 62,073 $ 69,946 Net loss (earnings) attributable to noncontrolling interests 226 (2 ) 338 65 Net earnings allocated to participating securities (946 ) (800 ) (2,042 ) (1,950 ) Net earnings attributable to Caleres, Inc. after allocation of earnings to participating securities $ 27,041 $ 28,353 $ 60,369 $ 68,061 DENOMINATOR Denominator for basic earnings per common share attributable to Caleres, Inc. shareholders 39,258 41,999 39,983 41,958 Dilutive effect of share-based awards 55 107 57 116 Denominator for diluted earnings per common share attributable to Caleres, Inc. shareholders 39,313 42,106 40,040 42,074 Basic earnings per common share attributable to Caleres, Inc. shareholders $ 0.69 $ 0.68 $ 1.51 $ 1.62 Diluted earnings per common share attributable to Caleres, Inc. shareholders $ 0.69 $ 0.67 $ 1.51 $ 1.62 |
Note 7 - Business Segment Inf_2
Note 7 - Business Segment Information (Tables) | 9 Months Ended |
Nov. 02, 2019 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ($ thousands) Famous Footwear Brand Portfolio Eliminations and Other Total Thirteen Weeks Ended November 2, 2019 Net sales $ 446,583 $ 359,863 $ (14,071 ) $ 792,375 Intersegment sales (1) — 14,071 — 14,071 Operating earnings (loss) 27,681 19,398 (3,608 ) 43,471 Segment assets 973,272 1,360,445 137,493 2,471,210 Thirteen Weeks Ended November 3, 2018 Net sales $ 448,765 $ 343,032 $ (15,968 ) $ 775,829 Intersegment sales (1) — 15,968 — 15,968 Operating earnings (loss) 24,414 25,114 (9,780 ) 39,748 Segment assets 548,609 1,272,576 187,217 2,008,402 Thirty-Nine Weeks Ended November 2, 2019 Net sales $ 1,218,589 $ 1,060,488 $ (56,463 ) $ 2,222,614 Intersegment sales (1) — 56,463 — 56,463 Operating earnings (loss) 70,036 46,225 (18,117 ) 98,144 Thirty-Nine Weeks Ended November 3, 2018 Net sales $ 1,241,648 $ 931,550 $ (58,615 ) $ 2,114,583 Intersegment sales (1) — 58,615 — 58,615 Operating earnings (loss) 79,511 52,650 (37,323 ) 94,838 |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] | Thirteen Weeks Ended Thirty-Nine Weeks Ended ($ thousands) November 2, 2019 November 3, 2018 November 2, 2019 November 3, 2018 Operating earnings $ 43,471 $ 39,748 $ 98,144 $ 94,838 Interest expense, net (10,559 ) (4,210 ) (25,288 ) (11,495 ) Other income, net 2,633 3,085 7,902 9,254 Earnings before income taxes $ 35,545 $ 38,623 $ 80,758 $ 92,597 |
Note 8 - Inventories (Tables)
Note 8 - Inventories (Tables) | 9 Months Ended |
Nov. 02, 2019 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | ($ thousands) November 2, 2019 November 3, 2018 February 2, 2019 Raw materials $ 19,005 $ 18,002 $ 19,128 Work-in-process 422 496 745 Finished goods 625,219 679,767 663,298 Inventories, net $ 644,646 $ 698,265 $ 683,171 |
Note 9 - Goodwill and Intangi_2
Note 9 - Goodwill and Intangible Assets (Tables) | 9 Months Ended |
Nov. 02, 2019 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | ($ thousands) November 2, 2019 November 3, 2018 February 2, 2019 Intangible Assets Famous Footwear $ 2,800 $ 2,800 $ 2,800 Brand Portfolio 388,288 448,288 388,288 Total intangible assets 391,088 451,088 391,088 Accumulated amortization (93,518 ) (80,581 ) (83,722 ) Total intangible assets, net 297,570 370,507 307,366 Goodwill Brand Portfolio 245,275 283,345 242,531 Total goodwill 245,275 283,345 242,531 Goodwill and intangible assets, net $ 542,845 $ 653,852 $ 549,897 |
Schedule of Finited-Lived and Indefinite-Lived Intangible Assets [Table Text Block] | ($ thousands) November 2, 2019 Estimated Useful Lives Cost Basis Accumulated Amortization Net Carrying Value Trademarks 15-40 years $ 288,788 $ 89,360 $ 199,428 Trademarks Indefinite 58,100 — 58,100 Customer relationships 15-16 years 44,200 4,158 40,042 $ 391,088 $ 93,518 $ 297,570 November 3, 2018 Estimated Useful Lives Cost Basis Accumulated Amortization Net Carrying Value Trademarks 15-40 years $ 288,788 $ 79,686 $ 209,102 Trademarks Indefinite 118,100 — 118,100 Customer relationships 15-20 years 44,200 895 43,305 $ 451,088 $ 80,581 $ 370,507 February 2, 2019 Estimated Useful Lives Cost Basis Accumulated Amortization Impairment Net Carrying Value Trademarks 15-40 years $ 288,788 $ 81,961 $ — $ 206,827 Trademarks Indefinite 118,100 — 60,000 58,100 Customer relationships 15-16 years 44,200 1,761 — 42,439 $ 451,088 $ 83,722 $ 60,000 $ 307,366 |
Note 10 - Leases (Tables)
Note 10 - Leases (Tables) | 9 Months Ended |
Nov. 02, 2019 | |
Notes Tables | |
Lessee, Operating Lease, Disclosure [Table Text Block] | Lease Term (years) Renewal Options Retail stores 5-10 Approximately 45% have options of varying periods Manufacturing facility 8 None Office facilities and distribution centers 10-15 5-20 years Equipment 1-6 None |
Assets and Liabilities, Lessee [Table Text Block] | ($ thousands) November 2, 2019 Lease Classification Lease right-of-use assets $ 704,244 Current lease obligations (144,501 ) Noncurrent lease obligations (629,731 ) Net balance sheet impact $ (69,988 ) |
Lessee, Weighted Average Lease Term and Discount Rate [Table Text Block] | November 2, 2019 Weighted-average remaining lease term (in years) 6.8 Weighted-average discount rate 4.1 % |
Lease, Cost [Table Text Block] | Thirteen Weeks Ended Thirty-Nine Weeks Ended ($ thousands) November 2, 2019 November 2, 2019 Operating lease expense $ 47,068 $ 139,380 Variable lease expense 11,794 35,277 Short-term lease expense 577 2,654 Sublease income (73 ) (220 ) Total lease expense $ 59,366 $ 177,091 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | ($ thousands) Remainder of 2019 $ 48,312 2020 173,074 2021 146,124 2022 121,234 2023 101,674 2024 79,038 Thereafter 174,913 Total minimum lease payments (1) $ 844,369 Less imputed interest (70,137 ) Present value of lease obligations $ 774,232 |
Leases, Cash Flow Information [Table Text Block] | Thirty-Nine Weeks Ended ($ thousands) November 2, 2019 Cash paid for lease liabilities $ 136,497 Cash received from sublease income 220 |
Note 11 - Long-term and Short_2
Note 11 - Long-term and Short-term Financing Arrangements (Tables) | 9 Months Ended |
Nov. 02, 2019 | |
Notes Tables | |
Debt Instrument Redemption [Table Text Block] | Year Percentage 2019 103.125 % 2020 101.563 % 2021 and thereafter 100.000 % |
Note 12 - Shareholders' Equity
Note 12 - Shareholders' Equity (Tables) | 9 Months Ended |
Nov. 02, 2019 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ($ thousands) Foreign Currency Translation Pension and Other Postretirement Transactions (1) Derivative Financial Instrument Transactions (2) Accumulated Other Comprehensive (Loss) Income Balance at August 3, 2019 $ (896 ) $ (30,199 ) $ (310 ) $ (31,405 ) Other comprehensive income before reclassifications 595 — 66 661 Reclassifications: Amounts reclassified from accumulated other comprehensive loss — 578 (4 ) 574 Tax (benefit) provision — (149 ) 1 (148 ) Net reclassifications — 429 (3 ) 426 Other comprehensive income 595 429 63 1,087 Balance at November 2, 2019 $ (301 ) $ (29,770 ) $ (247 ) $ (30,318 ) Balance at August 4, 2018 $ 176 $ (16,270 ) $ (675 ) $ (16,769 ) Other comprehensive income (loss) before reclassifications 14 — (415 ) (401 ) Reclassifications: Amounts reclassified from accumulated other comprehensive loss — 607 120 727 Tax benefit — (156 ) (25 ) (181 ) Net reclassifications — 451 95 546 Other comprehensive income (loss) 14 451 (320 ) 145 Balance at November 3, 2018 $ 190 $ (15,819 ) $ (995 ) $ (16,624 ) Balance at February 2, 2019 $ 62 $ (31,055 ) $ (608 ) $ (31,601 ) Other comprehensive (loss) income before reclassifications (363 ) — 160 (203 ) Reclassifications: Amounts reclassified from accumulated other comprehensive loss — 1,733 254 1,987 Tax benefit — (448 ) (53 ) (501 ) Net reclassifications — 1,285 201 1,486 Other comprehensive (loss) income (363 ) 1,285 361 1,283 Balance at November 2, 2019 $ (301 ) $ (29,770 ) $ (247 ) $ (30,318 ) Balance at February 3, 2018 $ 1,235 $ (17,172 ) $ 767 $ (15,170 ) Other comprehensive loss before reclassifications (1,045 ) — (1,648 ) (2,693 ) Reclassifications: Amounts reclassified from accumulated other comprehensive loss — 1,823 (147 ) 1,676 Tax (benefit) provision — (470 ) 33 (437 ) Net reclassifications — 1,353 (114 ) 1,239 Other comprehensive (loss) income (1,045 ) 1,353 (1,762 ) (1,454 ) Balance at November 3, 2018 $ 190 $ (15,819 ) $ (995 ) $ (16,624 ) |
Note 13 - Share-based Compens_2
Note 13 - Share-based Compensation (Tables) | 9 Months Ended |
Nov. 02, 2019 | |
Notes Tables | |
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block] | Thirteen Weeks Ended Thirteen Weeks Ended November 2, 2019 November 3, 2018 Total Number of Restricted Shares Weighted- Average Grant Date Fair Value Total Number of Restricted Shares Weighted- Average Grant Date Fair Value August 3, 2019 1,433,470 $ 27.09 August 4, 2018 1,205,898 $ 29.04 Granted 11,000 22.44 Granted 45,000 33.52 Forfeited (78,000 ) 30.75 Forfeited (27,650 ) 29.24 Vested (10,000 ) 32.85 Vested — — November 2, 2019 1,356,470 $ 26.80 November 3, 2018 1,223,248 $ 29.20 Thirty-Nine Weeks Ended Thirty-Nine Weeks Ended November 2, 2019 November 3, 2018 Total Number of Restricted Shares Weighted- Average Grant Date Fair Value Total Number of Restricted Shares Weighted- Average Grant Date Fair Value February 2, 2019 1,249,223 $ 29.17 February 3, 2018 1,174,801 $ 27.92 Granted 461,234 22.94 Granted 378,833 32.24 Forfeited (135,425 ) 29.91 Forfeited (44,950 ) 28.69 Vested (218,562 ) 30.25 Vested (285,436 ) 28.06 November 2, 2019 1,356,470 $ 26.80 November 3, 2018 1,223,248 $ 29.20 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Thirteen Weeks Ended Thirteen Weeks Ended November 2, 2019 November 3, 2018 Total Number of Stock Options Weighted- Average Grant Date Fair Value Total Number of Stock Options Weighted- Average Grant Date Fair Value August 3, 2019 39,667 $ 8.84 August 4, 2018 44,667 $ 8.32 Granted — — Granted — — Exercised (2,000 ) 4.64 Exercised — — Forfeited — — Forfeited — — Expired — — Expired — — November 2, 2019 37,667 $ 9.06 November 3, 2018 44,667 $ 8.32 Thirty-Nine Weeks Ended Thirty-Nine Weeks Ended November 2, 2019 November 3, 2018 Total Number of Stock Options Weighted- Average Grant Date Fair Value Total Number of Stock Options Weighted- Average Grant Date Fair Value February 2, 2019 42,667 $ 8.64 February 3, 2018 81,042 $ 6.28 Granted — — Granted — — Exercised (3,000 ) 6.00 Exercised (32,375 ) 3.52 Forfeited (2,000 ) 4.57 Forfeited — — Expired — — Expired (4,000 ) 5.80 November 2, 2019 37,667 $ 9.06 November 3, 2018 44,667 $ 8.32 |
Note 14 - Retirement and Othe_2
Note 14 - Retirement and Other Benefit Plans (Tables) | 9 Months Ended |
Nov. 02, 2019 | |
Notes Tables | |
Schedule of Net Benefit Costs [Table Text Block] | Pension Benefits Other Postretirement Benefits Thirteen Weeks Ended Thirteen Weeks Ended ($ thousands) November 2, 2019 November 3, 2018 November 2, 2019 November 3, 2018 Service cost $ 1,805 $ 2,240 $ — $ — Interest cost 3,707 3,546 15 15 Expected return on assets (6,933 ) (7,253 ) — — Amortization of: Actuarial loss (gain) 977 1,030 (27 ) (31 ) Prior service income (372 ) (392 ) — — Total net periodic benefit income $ (816 ) $ (829 ) $ (12 ) $ (16 ) Pension Benefits Other Postretirement Benefits Thirty-Nine Weeks Ended Thirty-Nine Weeks Ended ($ thousands) November 2, 2019 November 3, 2018 November 2, 2019 November 3, 2018 Service cost $ 5,414 $ 6,717 $ — $ — Interest cost 11,112 10,636 45 44 Expected return on assets (20,792 ) (21,757 ) — — Amortization of: Actuarial loss (gain) 2,929 3,092 (81 ) (93 ) Prior service income (1,115 ) (1,176 ) — — Total net periodic benefit income $ (2,452 ) $ (2,488 ) $ (36 ) $ (49 ) |
Note 15 - Risk Management and_2
Note 15 - Risk Management and Derivatives (Tables) | 9 Months Ended |
Nov. 02, 2019 | |
Notes Tables | |
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] | (U.S. $ equivalent in thousands) November 2, 2019 November 3, 2018 February 2, 2019 Financial Instruments Euro $ 3,235 $ 13,480 $ 13,383 U.S. dollars (purchased by the Company’s Canadian division with Canadian dollars) 5,763 13,877 15,196 Chinese yuan 2,905 6,570 4,507 New Taiwanese dollars — 530 461 Other currencies 139 388 382 Total financial instruments $ 12,042 $ 34,845 $ 33,929 |
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block] | Asset Derivatives Liability Derivatives ($ thousands) Balance Sheet Location Fair Value Balance Sheet Location Fair Value Foreign Exchange Forward Contracts November 2, 2019 Prepaid expenses and other current assets 17 Other accrued expenses 325 November 3, 2018 Prepaid expenses and other current assets 203 Other accrued expenses 1,414 February 2, 2019 Prepaid expenses and other current assets 159 Other accrued expenses 745 |
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | Thirteen Weeks Ended Thirteen Weeks Ended ($ thousands) November 2, 2019 November 3, 2018 Foreign Exchange Forward Contracts: Income Statement Classification Gains (Losses) - Realized Gain (Loss) Recognized in OCL on Derivatives Gain Reclassified from Accumulated OCL into Earnings Loss Recognized in OCL on Derivatives Gain (Loss) Reclassified from Accumulated OCL into Earnings Net sales $ 69 $ 2 $ (78 ) $ — Cost of goods sold 38 — (286 ) 26 Selling and administrative expenses (33 ) 2 (152 ) (146 ) Thirty-Nine Weeks Ended Thirty-Nine Weeks Ended ($ thousands) November 2, 2019 November 3, 2018 Foreign Exchange Forward Contracts: Income Statement Classification (Losses) Gains - Realized (Loss) Gain Recognized in OCL on Derivatives Loss Reclassified from Accumulated OCL into Earnings Loss Recognized in OCL on Derivatives (Loss) Gain Reclassified from Accumulated OCL into Earnings Net sales $ (51 ) $ (3 ) $ (120 ) $ (4 ) Cost of goods sold 390 (38 ) (970 ) (37 ) Selling and administrative expenses (147 ) (213 ) (955 ) 188 |
Note 16 - Fair Value Measurem_2
Note 16 - Fair Value Measurements (Tables) | 9 Months Ended |
Nov. 02, 2019 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements ($ thousands) Total Level 1 Level 2 Level 3 Asset (Liability) November 2, 2019: Non-qualified deferred compensation plan assets $ 8,117 $ 8,117 $ — $ — Non-qualified deferred compensation plan liabilities (8,117 ) (8,117 ) — — Deferred compensation plan liabilities for non-employee directors (1,879 ) (1,879 ) — — Restricted stock units for non-employee directors (3,282 ) (3,282 ) — — Derivative financial instruments, net (308 ) — (308 ) — Mandatory purchase obligation - Blowfish Malibu (13,655 ) — — (13,655 ) November 3, 2018: Cash equivalents – money market funds $ 56,668 $ 56,668 $ — $ — Non-qualified deferred compensation plan assets 7,723 7,223 — — Non-qualified deferred compensation plan liabilities (7,723 ) (7,223 ) — — Deferred compensation plan liabilities for non-employee directors (2,772 ) (2,772 ) — — Restricted stock units for non-employee directors (5,395 ) (5,395 ) — — Derivative financial instruments, net (1,211 ) — (1,211 ) — Mandatory purchase obligation - Blowfish Malibu (9,138 ) — — (9,138 ) February 2, 2019: Cash equivalents – money market funds $ 4,582 $ 4,582 $ — $ — Non-qualified deferred compensation plan assets 7,270 7,270 — — Non-qualified deferred compensation plan liabilities (7,270 ) (7,270 ) — — Deferred compensation plan liabilities for non-employee directors (2,364 ) (2,364 ) — — Restricted stock units for non-employee directors (4,419 ) (4,419 ) — — Derivative financial instruments, net (586 ) — (586 ) — Mandatory purchase obligation - Blowfish Malibu (9,245 ) — — (9,245 ) |
Details of Impairment of Long-Lived Assets Held and Used by Asset [Table Text Block] | Thirteen Weeks Ended Thirty-Nine Weeks Ended ($ thousands) November 2, 2019 November 3, 2018 November 2, 2019 November 3, 2018 Impairment Charges Famous Footwear $ 769 $ 150 $ 1,509 $ 450 Brand Portfolio 1,382 957 3,596 1,590 Total impairment charges $ 2,151 $ 1,107 $ 5,105 $ 2,040 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | November 2, 2019 November 3, 2018 February 2, 2019 Carrying Fair Carrying Fair Carrying Fair ($ thousands) Value (1) Value Value (1) Value Value (1) Value Borrowings under revolving credit agreement $ 295,000 $ 295,000 $ 350,000 $ 350,000 $ 335,000 $ 335,000 Long-term debt 200,000 206,200 200,000 203,500 200,000 205,500 Total debt $ 495,000 $ 501,200 $ 550,000 $ 553,500 $ 535,000 $ 540,500 |
Note 19 - Financial Informati_2
Note 19 - Financial Information for the Company and its Subsidiaries (Tables) | 9 Months Ended |
Nov. 02, 2019 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Assets Current assets Cash and cash equivalents $ 2,487 $ 20,040 $ 29,975 $ — $ 52,502 Receivables, net 108,118 30,427 17,708 — 156,253 Inventories, net 133,258 476,687 34,701 — 644,646 Prepaid expenses and other current assets 28,534 14,494 5,217 — 48,245 Intercompany receivable – current 144 96 10,611 (10,851 ) — Total current assets 272,541 541,744 98,212 (10,851 ) 901,646 Other assets 79,868 11,131 1,215 — 92,214 Goodwill and intangible assets, net 107,217 328,562 107,066 — 542,845 Lease right-of-use assets 123,490 548,639 32,115 — 704,244 Property and equipment, net 76,550 143,402 10,309 — 230,261 Investment in subsidiaries 1,560,733 — (25,950 ) (1,534,783 ) — Intercompany receivable – noncurrent 602,934 640,835 800,327 (2,044,096 ) — Total assets $ 2,823,333 $ 2,214,313 $ 1,023,294 $ (3,589,730 ) $ 2,471,210 Liabilities and Equity Current liabilities Borrowings under revolving credit agreement $ 295,000 $ — $ — $ — $ 295,000 Trade accounts payable 115,407 128,490 31,802 — 275,699 Lease obligations 11,450 126,438 6,613 — 144,501 Other accrued expenses 65,810 91,013 22,207 — 179,030 Intercompany payable – current 5,343 — 5,508 (10,851 ) — Total current liabilities 493,010 345,941 66,130 (10,851 ) 894,230 Other liabilities Noncurrent lease obligations 126,347 472,579 30,805 — 629,731 Long-term debt 198,276 — — — 198,276 Other liabilities 92,293 2,399 931 — 95,623 Intercompany payable – noncurrent 1,262,567 114,458 667,071 (2,044,096 ) — Total other liabilities 1,679,483 589,436 698,807 (2,044,096 ) 923,630 Equity Caleres, Inc. shareholders’ equity 650,840 1,278,936 255,847 (1,534,783 ) 650,840 Noncontrolling interests — — 2,510 — 2,510 Total equity 650,840 1,278,936 258,357 (1,534,783 ) 653,350 Total liabilities and equity $ 2,823,333 $ 2,214,313 $ 1,023,294 $ (3,589,730 ) $ 2,471,210 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Assets Current assets Cash and cash equivalents $ 4,012 $ 11,817 $ 74,662 $ — $ 90,491 Receivables, net 145,363 30,040 16,843 — 192,246 Inventories, net 154,706 513,448 30,111 — 698,265 Prepaid expenses and other current assets 34,621 33,869 6,020 (11,344 ) 63,166 Intercompany receivable – current 291 137 8,038 (8,466 ) — Total current assets 338,993 589,311 135,674 (19,810 ) 1,044,168 Other assets 78,640 12,330 1,309 — 92,279 Goodwill and intangible assets, net 109,441 335,419 208,992 — 653,852 Property and equipment, net 43,761 163,019 11,323 — 218,103 Investment in subsidiaries 1,576,825 — (24,821 ) (1,552,004 ) — Intercompany receivable – noncurrent 583,048 560,563 745,589 (1,889,200 ) — Total assets $ 2,730,708 $ 1,660,642 $ 1,078,066 $ (3,461,014 ) $ 2,008,402 Liabilities and Equity Current liabilities Borrowings under revolving credit agreement $ 350,000 $ — $ — $ — $ 350,000 Trade accounts payable 141,012 151,127 25,360 — 317,499 Other accrued expenses 85,253 111,490 24,080 (11,344 ) 209,479 Intercompany payable – current 3,363 — 5,103 (8,466 ) — Total current liabilities 579,628 262,617 54,543 (19,810 ) 876,978 Other liabilities Long-term debt 197,817 — — — 197,817 Other liabilities 119,291 42,185 5,046 — 166,522 Intercompany payable – noncurrent 1,068,219 95,440 725,541 (1,889,200 ) — Total other liabilities 1,385,327 137,625 730,587 (1,889,200 ) 364,339 Equity Caleres, Inc. shareholders’ equity 765,753 1,260,400 291,604 (1,552,004 ) 765,753 Noncontrolling interests — — 1,332 — 1,332 Total equity 765,753 1,260,400 292,936 (1,552,004 ) 767,085 Total liabilities and equity $ 2,730,708 $ 1,660,642 $ 1,078,066 $ (3,461,014 ) $ 2,008,402 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Assets Current assets Cash and cash equivalents $ 2 $ 9,148 $ 21,050 $ — $ 30,200 Receivables, net 130,684 32,319 28,719 — 191,722 Inventories, net 175,697 470,610 36,864 — 683,171 Prepaid expenses and other current assets 31,195 32,556 7,603 — 71,354 Intercompany receivable – current 190 42 15,279 (15,511 ) — Total current assets 337,768 544,675 109,515 (15,511 ) 976,447 Other assets 68,707 11,824 909 — 81,440 Goodwill and intangible assets, net 108,884 331,810 109,203 — 549,897 Property and equipment, net 62,608 157,270 10,906 — 230,784 Investment in subsidiaries 1,499,209 — (24,838 ) (1,474,371 ) — Intercompany receivable – noncurrent 597,515 578,821 762,281 (1,938,617 ) — Total assets $ 2,674,691 $ 1,624,400 $ 967,976 $ (3,428,499 ) $ 1,838,568 Liabilities and Equity Current liabilities Borrowings under revolving credit agreement $ 335,000 $ — $ — $ — $ 335,000 Trade accounts payable 146,400 130,670 39,228 — 316,298 Other accrued expenses 95,498 86,015 20,525 — 202,038 Intercompany payable – current 10,781 — 4,730 (15,511 ) — Total current liabilities 587,679 216,685 64,483 (15,511 ) 853,336 Other liabilities Long-term debt 197,932 — — — 197,932 Other liabilities 105,689 41,149 5,027 — 151,865 Intercompany payable – noncurrent 1,149,338 115,114 674,165 (1,938,617 ) — Total other liabilities 1,452,959 156,263 679,192 (1,938,617 ) 349,797 Equity Caleres, Inc. shareholders’ equity 634,053 1,251,452 222,919 (1,474,371 ) 634,053 Noncontrolling interests — — 1,382 — 1,382 Total equity 634,053 1,251,452 224,301 (1,474,371 ) 635,435 Total liabilities and equity $ 2,674,691 $ 1,624,400 $ 967,976 $ (3,428,499 ) $ 1,838,568 |
Condensed Income Statement [Table Text Block] | Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Net sales $ 223,640 $ 563,398 $ 59,062 $ (53,725 ) $ 792,375 Cost of goods sold 148,245 340,009 30,127 (45,776 ) 472,605 Gross profit 75,395 223,389 28,935 (7,949 ) 319,770 Selling and administrative expenses 61,728 204,612 16,939 (7,949 ) 275,330 Restructuring and other special charges, net 969 - - - 969 Operating (loss) earnings 12,698 18,777 11,996 - 43,471 Interest (expense) income (10,564 ) (25 ) 30 - (10,559 ) Other income (expense) 2,653 - (20 ) - 2,633 Intercompany interest income (expense) 2,660 (2,709 ) 49 - - (Loss) earnings before income taxes 7,447 16,043 12,055 - 35,545 Income tax benefit (provision) (2,776 ) (3,651 ) (1,357 ) - (7,784 ) Equity in earnings (loss) of subsidiaries, net of tax 23,316 - (488 ) (22,828 ) - Net earnings 27,987 12,392 10,210 (22,828 ) 27,761 Less: Net loss attributable to noncontrolling interests - - (226 ) - (226 ) Net earnings attributable to Caleres, Inc. $ 27,987 $ 12,392 $ 10,436 $ (22,828 ) $ 27,987 Comprehensive income $ 29,074 $ 12,445 $ 10,718 $ (23,402 ) $ 28,835 Less: Comprehensive loss attributable to noncontrolling interests - - (239 ) - (239 ) Comprehensive income attributable to Caleres, Inc. $ 29,074 $ 12,445 $ 10,957 $ (23,402 ) $ 29,074 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Net sales $ 623,292 $ 1,584,601 $ 194,233 $ (179,512 ) $ 2,222,614 Cost of goods sold 426,872 940,140 101,464 (151,412 ) 1,317,064 Gross profit 196,420 644,461 92,769 (28,100 ) 905,550 Selling and administrative expenses 181,662 600,020 51,390 (28,100 ) 804,972 Restructuring and other special charges, net 2,434 — — — 2,434 Operating earnings 12,324 44,441 41,379 — 98,144 Interest (expense) income (25,294 ) (77 ) 83 — (25,288 ) Other income (expense) 7,960 — (58 ) — 7,902 Intercompany interest income (expense) 8,231 (8,292 ) 61 — - Earnings before income taxes 3,221 36,072 41,465 — 80,758 Income tax provision (3,159 ) (9,393 ) (6,133 ) — (18,685 ) Equity in earnings (loss) of subsidiaries, net of tax 62,349 — (1,111 ) (61,238 ) - Net earnings 62,411 26,679 34,221 (61,238 ) 62,073 Less: Net loss attributable to noncontrolling interests — — (338 ) — (338 ) Net earnings attributable to Caleres, Inc. $ 62,411 $ 26,679 $ 34,559 $ (61,238 ) $ 62,411 Comprehensive income $ 63,694 $ 26,641 $ 33,772 $ (60,785 ) $ 63,322 Less: Comprehensive loss attributable to noncontrolling interests — — (372 ) — (372 ) Comprehensive income attributable to Caleres, Inc. $ 63,694 $ 26,641 $ 34,144 $ (60,785 ) $ 63,694 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Net sales $ 240,295 $ 540,379 $ 62,672 $ (67,517 ) $ 775,829 Cost of goods sold 163,609 325,966 32,262 (56,618 ) 465,219 Gross profit 76,686 214,413 30,410 (10,899 ) 310,610 Selling and administrative expenses 64,766 195,318 16,337 (10,899 ) 265,522 Restructuring and other special charges, net 4,831 509 — — 5,340 Operating earnings 7,089 18,586 14,073 — 39,748 Interest (expense) income (4,484 ) — 274 — (4,210 ) Other income (expense) 3,101 — (16 ) — 3,085 Intercompany interest income (expense) 2,976 (2,951 ) (25 ) — — Earnings before income taxes 8,682 15,635 14,306 — 38,623 Income tax provision (3,012 ) (4,122 ) (2,334 ) — (9,468 ) Equity in earnings (loss) of subsidiaries, net of tax 23,483 — (662 ) (22,821 ) — Net earnings 29,153 11,513 11,310 (22,821 ) 29,155 Less: Net earnings attributable to noncontrolling interests — — 2 — 2 Net earnings attributable to Caleres, Inc. $ 29,153 $ 11,513 $ 11,308 $ (22,821 ) $ 29,153 Comprehensive income $ 29,309 $ 11,451 $ 11,362 $ (22,822 ) $ 29,300 Less: Comprehensive loss attributable to noncontrolling interests — — (9 ) — (9 ) Comprehensive income attributable to Caleres, Inc. $ 29,309 $ 11,451 $ 11,371 $ (22,822 ) $ 29,309 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Net sales $ 651,807 $ 1,487,877 $ 164,829 $ (189,930 ) $ 2,114,583 Cost of goods sold 448,832 862,345 83,538 (158,765 ) 1,235,950 Gross profit 202,975 625,532 81,291 (31,165 ) 878,633 Selling and administrative expenses 204,696 558,714 42,310 (31,165 ) 774,555 Restructuring and other special charges, net 5,679 3,561 — — 9,240 Operating (loss) earnings (7,400 ) 63,257 38,981 — 94,838 Interest (expense) income (12,108 ) (25 ) 638 — (11,495 ) Other income (expense) 9,305 — (51 ) — 9,254 Intercompany interest income (expense) 8,617 (8,650 ) 33 — — (Loss) earnings before income taxes (1,586 ) 54,582 39,601 — 92,597 Income tax provision (2,065 ) (14,257 ) (6,329 ) — (22,651 ) Equity in earnings (loss) of subsidiaries, net of tax 73,662 — (1,256 ) (72,406 ) — Net earnings 70,011 40,325 32,016 (72,406 ) 69,946 Less: Net loss attributable to noncontrolling interests — — (65 ) — (65 ) Net earnings attributable to Caleres, Inc. $ 70,011 $ 40,325 $ 32,081 $ (72,406 ) $ 70,011 Comprehensive income $ 68,633 $ 40,235 $ 31,824 $ (72,200 ) $ 68,492 Less: Comprehensive loss attributable to noncontrolling interests — — (141 ) — (141 ) Comprehensive income attributable to Caleres, Inc. $ 68,633 $ 40,235 $ 31,965 $ (72,200 ) $ 68,633 |
Condensed Cash Flow Statement [Table Text Block] | Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Net cash provided by operating activities $ 15,776 $ 79,884 $ 50,077 $ — $ 145,737 Investing activities Purchases of property and equipment (20,965 ) (14,365 ) (2,024 ) — (37,354 ) Disposals of property and equipment 636 — — — 636 Capitalized software (4,696 ) (197 ) — — (4,893 ) Intercompany investing (337 ) 337 — — — Net cash used for investing activities (25,362 ) (14,225 ) (2,024 ) — (41,611 ) Financing activities Borrowings under revolving credit agreement 237,000 — — — 237,000 Repayments under revolving credit agreement (277,000 ) — — — (277,000 ) Dividends paid (8,631 ) — — — (8,631 ) Acquisition of treasury stock (31,168 ) — — — (31,168 ) Issuance of common stock under share-based plans, net (2,605 ) — — — (2,605 ) Contributions by noncontrolling interests 1,500 1,500 Other (84 ) (938 ) — — (1,022 ) Intercompany financing 94,559 (53,829 ) (40,730 ) — — Net cash used for financing activities 12,071 (54,767 ) (39,230 ) — (81,926 ) Effect of exchange rate changes on cash and cash equivalents — — 102 — 102 Increase in cash and cash equivalents 2,485 10,892 8,925 — 22,302 Cash and cash equivalents at beginning of period 2 9,148 21,050 — 30,200 Cash and cash equivalents at end of period $ 2,487 $ 20,040 $ 29,975 $ — $ 52,502 Non- ($ thousands) Parent Guarantors Guarantors Eliminations Total Net cash provided by operating activities $ 2,739 $ 76,601 $ 15,070 $ — $ 94,410 Investing activities Purchases of property and equipment (14,094 ) (19,571 ) (1,579 ) — (35,244 ) Capitalized software (3,077 ) (428 ) — — (3,505 ) Acquisition of Blowfish Malibu, net of cash received (17,284 ) — — — (17,284 ) Acquisition of Vionic, net of cash received (344,942 ) — — — (344,942 ) Intercompany investing 2 (2 ) — — — Net cash used for investing activities (379,395 ) (20,001 ) (1,579 ) — (400,975 ) Financing activities Borrowings under revolving credit agreement 360,000 — — — 360,000 Repayments under revolving credit agreement (10,000 ) — — — (10,000 ) Repayments under capital lease obligations — (114 ) — — (114 ) Dividends paid (9,059 ) — — — (9,059 ) Acquisition of treasury stock (3,288 ) — — — (3,288 ) Issuance of common stock under share-based plans, net (4,318 ) — — — (4,318 ) Intercompany financing 21,244 (44,669 ) 23,425 — — Net cash provided by (used for) financing activities 354,579 (44,783 ) 23,425 — 333,221 Effect of exchange rate changes on cash and cash equivalents — — (212 ) — (212 ) (Decrease) increase in cash and cash equivalents (22,077 ) 11,817 36,704 — 26,444 Cash and cash equivalents at beginning of period 26,089 — 37,958 — 64,047 Cash and cash equivalents at end of period $ 4,012 $ 11,817 $ 74,662 $ — $ 90,491 |
Note 2 - Impact of New Accoun_2
Note 2 - Impact of New Accounting Pronouncements (Details Textual) - USD ($) $ in Thousands | Feb. 03, 2019 | Nov. 02, 2019 | Feb. 02, 2019 | Nov. 03, 2018 |
Operating Lease, Right-of-Use Asset | $ 704,244 | $ 0 | $ 0 | |
Operating Lease, Liability, Total | 774,232 | |||
Accounting Standards Update 2016-02 [Member] | ||||
Operating Lease, Right-of-Use Asset | $ 729,200 | |||
Operating Lease, Liability, Total | 791,700 | |||
Cumulative Effect on Retained Earnings, Net of Tax, Total | (13,400) | $ (13,436) | ||
Cumulative Effect on Retained Earnings, Tax | $ 4,700 |
Note 3 - Acquisitions (Details
Note 3 - Acquisitions (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Oct. 18, 2018 | Aug. 18, 2018 | Jul. 06, 2018 | Nov. 02, 2019 | Nov. 03, 2018 | Nov. 02, 2019 | Nov. 03, 2018 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total | $ 27,761 | $ 29,155 | $ 62,073 | $ 69,946 | |||
Cost of Goods and Services Sold, Total | $ 472,605 | $ 465,219 | $ 1,317,064 | $ 1,235,950 | |||
Earnings Per Share, Diluted, Total | $ 0.69 | $ 0.67 | $ 1.51 | $ 1.62 | |||
Joint Venture with Brand Investment Holding [Member] | |||||||
Noncontrolling Interest, Ownership Percentage by Parent | 50.00% | 50.00% | |||||
Payments to Acquire Interest in Joint Venture | $ 1,500 | ||||||
Joint Venture, Cash Inflow Received from Other Party | 1,500 | ||||||
Joint Venture with Brand Investment Holding [Member] | Caleres and Brand Investment Holding [Member] | |||||||
Payments to Acquire Interest in Joint Venture | 3,000 | ||||||
Blowfish, LLC [Member] | |||||||
Business Acquisition, Effective Date of Acquisition | Jul. 6, 2018 | ||||||
Business Acquisition, Name of Acquired Entity | Blowfish Malibu | ||||||
Business Acquisitions, Estimated Aggregate Purchase Price | $ 32,700 | ||||||
Business Acquisitions, Purchase Obligation | 9,000 | 13,700 | $ 13,700 | ||||
Payments to Acquire Businesses, Gross | 19,000 | ||||||
Payments to Acquire Businesses, Net of Cash Acquired, Total | 16,800 | 0 | $ 17,284 | ||||
Cash Acquired in Excess of Payments to Acquire Business | $ 2,200 | ||||||
Interest Expense, Total | 3,900 | 4,400 | |||||
Revenues, Total | 13,500 | $ 7,000 | 48,600 | 10,100 | |||
Sales Net of Eliminations | 11,700 | 6,400 | 42,100 | 8,900 | |||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total | 900 | (500) | 4,700 | (900) | |||
Business Combination, Acquisition Related Costs | 0 | 100 | 0 | 300 | |||
Business Combination, Acquisition Related Costs, After-Tax Basis | 100 | $ 200 | |||||
Business Combination, Acquisition Related Costs Per Share, Diluted | $ 0.01 | ||||||
Vionic [Member] | |||||||
Business Acquisition, Effective Date of Acquisition | Oct. 18, 2018 | ||||||
Business Acquisition, Name of Acquired Entity | Vionic | ||||||
Business Acquisitions, Estimated Aggregate Purchase Price | $ 360,000 | ||||||
Payments to Acquire Businesses, Gross | 360,700 | ||||||
Payments to Acquire Businesses, Net of Cash Acquired, Total | 352,700 | 0 | $ 344,942 | ||||
Cash Acquired in Excess of Payments to Acquire Business | $ 8,000 | ||||||
Revenues, Total | 38,800 | 6,000 | 140,700 | 6,000 | |||
Sales Net of Eliminations | (38,800) | 5,800 | 138,800 | 5,800 | |||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total | (600) | (1,200) | 1,300 | (1,200) | |||
Vionic [Member] | Restructuring and Other Special Charges [Member] | |||||||
Business Combination, Acquisition Related Costs | 1,000 | 4,100 | 1,900 | 4,100 | |||
Business Combination, Acquisition Related Costs, After-Tax Basis | $ 700 | $ 3,500 | $ 1,400 | $ 3,500 | |||
Business Combination, Acquisition Related Costs Per Share, Diluted | $ 0.02 | $ 0.08 | $ 0.03 | $ 0.08 | |||
Vionic [Member] | Brand Portfolio [Member] | |||||||
Cost of Goods and Services Sold, Total | $ 5,800 | ||||||
Costs of Goods and Services Sold, After-Tax Basis | $ 4,300 | ||||||
Earnings Per Share, Diluted, Total | $ 0.10 | ||||||
Business Combination, Acquisition Related Costs | $ 100 | ||||||
Vionic [Member] | Eliminations and Other [Member] | |||||||
Business Combination, Acquisition Related Costs | $ 4,100 | $ 1,800 | $ 4,100 | ||||
Business Combination, Acquisition Related Costs, After-Tax Basis | $ 3,500 | $ 3,500 | |||||
Business Combination, Acquisition Related Costs Per Share, Diluted | $ 0.08 | $ 0.08 |
Note 3 - Acquisitions - Purchas
Note 3 - Acquisitions - Purchase Price Allocation (Details) - USD ($) $ in Thousands | Nov. 02, 2019 | Feb. 02, 2019 | Nov. 03, 2018 | Oct. 18, 2018 |
Goodwill | $ 245,275 | $ 242,531 | $ 283,345 | |
Vionic [Member] | ||||
Cash and cash equivalents | $ 8,024 | |||
Receivables | 32,319 | |||
Inventories | 58,332 | |||
Prepaid expense and other current assets | 3,618 | |||
Total current assets | 102,293 | |||
Goodwill | 151,281 | |||
Intangible assets | 144,700 | |||
Property and equipment | 6,864 | |||
Total assets | 405,138 | |||
Trade accounts payable | 19,679 | |||
Other accrued expenses | 21,228 | |||
Total current liabilities | 40,907 | |||
Other liabilities | 3,541 | |||
Total liabilities | 44,448 | |||
Net assets | $ 360,690 |
Note 4 - Revenues (Details Text
Note 4 - Revenues (Details Textual) - USD ($) $ in Millions | 9 Months Ended | |
Nov. 02, 2019 | Nov. 03, 2018 | |
Loyalty Programs Liability Increase Due to Purchases [Member] | ||
Increase (Decrease) in Contract with Customer, Liability | $ 24.2 | $ 13.8 |
Loyalty Programs Liability, Decrease Due to Expirations and Redemptions [Member] | ||
Increase (Decrease) in Contract with Customer, Liability | $ (21.6) | (12) |
Loyalty Programs Liability, Increase Due to Adoption of Topic 606 [Member] | ||
Increase (Decrease) in Contract with Customer, Liability | $ 6.4 |
Note 4 - Revenues - Disaggregat
Note 4 - Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Nov. 02, 2019 | Nov. 03, 2018 | Nov. 02, 2019 | Nov. 03, 2018 | ||
Net sales | $ 792,375 | $ 775,829 | $ 2,222,614 | $ 2,114,583 | |
Famous Footwear [Member] | |||||
Net sales | 446,583 | 448,765 | 1,218,589 | 1,241,648 | |
Brand Portfolio [Member] | |||||
Net sales | 359,863 | 343,032 | 1,060,488 | 931,550 | |
Eliminations and Other [Member] | |||||
Net sales | (14,071) | (15,968) | (56,463) | (58,615) | |
Retail [Member] | |||||
Net sales | 442,564 | 451,434 | 1,224,019 | 1,277,069 | |
Retail [Member] | Famous Footwear [Member] | |||||
Net sales | 401,943 | 408,248 | 1,108,200 | 1,147,512 | |
Retail [Member] | Brand Portfolio [Member] | |||||
Net sales | 40,621 | 43,186 | 115,819 | 129,557 | |
Retail [Member] | Eliminations and Other [Member] | |||||
Net sales | 0 | 0 | 0 | 0 | |
Landed Wholesale - E-commerce / Drop Ship [Member] | |||||
Net sales | [1] | 85,957 | 66,698 | 212,927 | 160,617 |
Landed Wholesale - E-commerce / Drop Ship [Member] | Famous Footwear [Member] | |||||
Net sales | [1] | 0 | 0 | 0 | 0 |
Landed Wholesale - E-commerce / Drop Ship [Member] | Brand Portfolio [Member] | |||||
Net sales | [1] | 85,957 | 66,698 | 212,927 | 160,617 |
Landed Wholesale - E-commerce / Drop Ship [Member] | Eliminations and Other [Member] | |||||
Net sales | [1] | 0 | 0 | 0 | 0 |
Landed Wholesale - Other [Member] | |||||
Net sales | 163,075 | 159,541 | 492,858 | 420,558 | |
Landed Wholesale - Other [Member] | Famous Footwear [Member] | |||||
Net sales | 0 | 0 | 0 | 0 | |
Landed Wholesale - Other [Member] | Brand Portfolio [Member] | |||||
Net sales | 177,146 | 175,509 | 549,321 | 479,173 | |
Landed Wholesale - Other [Member] | Eliminations and Other [Member] | |||||
Net sales | (14,071) | (15,968) | (56,463) | (58,615) | |
First-Cost Wholesale [Member] | |||||
Net sales | 16,124 | 21,345 | 66,826 | 61,910 | |
First-Cost Wholesale [Member] | Famous Footwear [Member] | |||||
Net sales | 0 | 0 | 0 | 0 | |
First-Cost Wholesale [Member] | Brand Portfolio [Member] | |||||
Net sales | 16,124 | 21,345 | 66,826 | 61,910 | |
First-Cost Wholesale [Member] | Eliminations and Other [Member] | |||||
Net sales | 0 | 0 | 0 | 0 | |
First-Cost Wholesale - E-commerce [Member] | |||||
Net sales | [1] | 354 | 422 | 1,528 | 583 |
First-Cost Wholesale - E-commerce [Member] | Famous Footwear [Member] | |||||
Net sales | [1] | 0 | 0 | 0 | 0 |
First-Cost Wholesale - E-commerce [Member] | Brand Portfolio [Member] | |||||
Net sales | [1] | 354 | 422 | 1,528 | 583 |
First-Cost Wholesale - E-commerce [Member] | Eliminations and Other [Member] | |||||
Net sales | [1] | 0 | 0 | 0 | 0 |
E-commerce [Member] | |||||
Net sales | [1] | 81,181 | 72,383 | 212,591 | 181,119 |
E-commerce [Member] | Famous Footwear [Member] | |||||
Net sales | [1] | 44,489 | 40,383 | 109,954 | 93,729 |
E-commerce [Member] | Brand Portfolio [Member] | |||||
Net sales | [1] | 36,692 | 32,000 | 102,637 | 87,390 |
E-commerce [Member] | Eliminations and Other [Member] | |||||
Net sales | [1] | 0 | 0 | 0 | 0 |
License and Royalty [Member] | |||||
Net sales | 2,908 | 3,810 | 11,234 | 12,104 | |
License and Royalty [Member] | Famous Footwear [Member] | |||||
Net sales | 0 | 0 | 0 | 0 | |
License and Royalty [Member] | Brand Portfolio [Member] | |||||
Net sales | 2,908 | 3,810 | 11,234 | 12,104 | |
License and Royalty [Member] | Eliminations and Other [Member] | |||||
Net sales | 0 | 0 | 0 | 0 | |
Other Revenue [Member] | |||||
Net sales | [2] | 212 | 196 | 631 | 623 |
Other Revenue [Member] | Famous Footwear [Member] | |||||
Net sales | [2] | 151 | 134 | 435 | 407 |
Other Revenue [Member] | Brand Portfolio [Member] | |||||
Net sales | [2] | 61 | 62 | 196 | 216 |
Other Revenue [Member] | Eliminations and Other [Member] | |||||
Net sales | [2] | $ 0 | $ 0 | $ 0 | $ 0 |
[1] | Collectively referred to as "e-commerce" below | ||||
[2] | Includes breakage revenue from unredeemed gift cards |
Note 4 - Revenues - Contract Ba
Note 4 - Revenues - Contract Balances (Details) - USD ($) $ in Thousands | Nov. 02, 2019 | Feb. 02, 2019 | Nov. 03, 2018 |
Customer allowances and discounts | $ 25,762 | $ 25,090 | $ 23,835 |
Loyalty programs liability | 17,274 | 14,637 | 16,299 |
Returns reserve | 15,040 | 13,841 | 15,373 |
Gift Cards [Member] | |||
Gift card liability | $ 4,794 | $ 5,426 | $ 4,169 |
Note 5 - Earnings Per Share (De
Note 5 - Earnings Per Share (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 98 Months Ended | ||
Nov. 02, 2019 | Nov. 03, 2018 | Nov. 02, 2019 | Nov. 03, 2018 | Nov. 02, 2019 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 16,667 | 0 | 16,667 | 0 | |
Stock Repurchase Programs, 2011 and 2018 [Member] | |||||
Treasury Stock, Shares, Acquired | 58,263 | 0 | 1,588,741 | 100,000 | 4,300,000 |
Treasury Stock, Value, Acquired, Cost Method | $ 109 | ||||
Stock Repurchase Program, 2011 [Member] | |||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 2,500,000 | 2,500,000 | 2,500,000 |
Note 5 - Earnings Per Share - S
Note 5 - Earnings Per Share - Schedule of Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Nov. 02, 2019 | Nov. 03, 2018 | Nov. 02, 2019 | Nov. 03, 2018 | |
Net earnings | $ 27,761 | $ 29,155 | $ 62,073 | $ 69,946 |
Net loss (earnings) attributable to noncontrolling interests | 226 | (2) | 338 | 65 |
Net earnings allocated to participating securities | (946) | (800) | (2,042) | (1,950) |
Net earnings attributable to Caleres, Inc. after allocation of earnings to participating securities | $ 27,041 | $ 28,353 | $ 60,369 | $ 68,061 |
Denominator for basic earnings per common share attributable to Caleres, Inc. shareholders (in shares) | 39,258 | 41,999 | 39,983 | 41,958 |
Dilutive effect of share-based awards (in shares) | 55 | 107 | 57 | 116 |
Denominator for diluted earnings per common share attributable to Caleres, Inc. shareholders (in shares) | 39,313 | 42,106 | 40,040 | 42,074 |
Basic earnings per common share attributable to Caleres, Inc. shareholders (in dollars per share) | $ 0.69 | $ 0.68 | $ 1.51 | $ 1.62 |
Diluted earnings per common share attributable to Caleres, Inc. shareholders (in dollars per share) | $ 0.69 | $ 0.67 | $ 1.51 | $ 1.62 |
Note 6 - Restructuring and Ot_2
Note 6 - Restructuring and Other Initiatives (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Nov. 02, 2019 | Nov. 03, 2018 | Nov. 02, 2019 | Nov. 03, 2018 | |
Restructuring Charges, Total | $ 969 | $ 5,340 | $ 2,434 | $ 9,240 |
Business Combination, Integration Related Costs | 0 | 0 | ||
Men's Business [Member] | ||||
Business Exit Costs | 1,200 | 4,800 | ||
Business Exit Costs, After Tax | $ 900 | $ 3,600 | ||
Business Exit Costs, Per Share, Diluted | $ 0.02 | $ 0.08 | ||
Brand Portfolio [Member] | Men's Business [Member] | ||||
Business Exit Costs | $ 1,100 | $ 4,400 | ||
Carlos Brand [Member] | ||||
Business Exit Costs | 1,900 | |||
Business Exit Costs, After Tax | $ 1,400 | |||
Business Exit Costs, Per Share, Diluted | $ 0.03 | |||
Business Exit, Inventory Markdowns | $ 1,300 | |||
Business Exit, Inventory Markdowns, After Tax | $ 1,000 | |||
Business Exit, Inventory Markdown, Per Diluted Share | $ 0.02 | |||
Severance Costs | $ 600 | |||
Severance Costs, Net of Tax | $ 400 | |||
Severance Costs, Per Diluted Share | $ 0.01 | |||
Restructuring Charges, Total | 0 | 0 | ||
Corporate and Other [Member] | Men's Business [Member] | ||||
Business Exit Costs | 100 | 400 | ||
Vionic [Member] | ||||
Restructuring Reserve, Ending Balance | 1,100 | 1,800 | $ 1,100 | 1,800 |
Vionic [Member] | Eliminations and Other [Member] | ||||
Business Combination, Acquisition Related Costs | 4,100 | 1,800 | 4,100 | |
Business Combination, Acquisition Related Costs, After-Tax Basis | $ 3,500 | $ 3,500 | ||
Business Combination, Acquisition Related Costs Per Share, Diluted | $ 0.08 | $ 0.08 | ||
Vionic [Member] | Brand Portfolio [Member] | ||||
Business Combination, Acquisition Related Costs | 100 | |||
Vionic [Member] | Employee Severance [Member] | Eliminations and Other [Member] | ||||
Business Combination, Acquisition Related Costs | 1,800 | |||
Vionic [Member] | Employee Severance [Member] | Brand Portfolio [Member] | ||||
Business Combination, Acquisition Related Costs | 100 | |||
Vionic [Member] | Restructuring and Other Special Charges [Member] | ||||
Business Combination, Acquisition Related Costs | 1,000 | $ 4,100 | 1,900 | $ 4,100 |
Business Combination, Acquisition Related Costs, After-Tax Basis | $ 700 | $ 3,500 | $ 1,400 | $ 3,500 |
Business Combination, Acquisition Related Costs Per Share, Diluted | $ 0.02 | $ 0.08 | $ 0.03 | $ 0.08 |
Vionic [Member] | Restructuring and Other Special Charges [Member] | Employee Severance [Member] | ||||
Business Combination, Acquisition Related Costs | $ 1,000 | $ 1,900 | ||
Business Combination, Acquisition Related Costs, After-Tax Basis | $ 700 | $ 1,400 | ||
Business Combination, Acquisition Related Costs Per Share, Diluted | $ 0.02 | $ 0.03 | ||
Blowfish, LLC [Member] | ||||
Business Combination, Acquisition Related Costs | $ 0 | $ 100 | $ 0 | $ 300 |
Business Combination, Acquisition Related Costs, After-Tax Basis | $ 100 | $ 200 | ||
Business Combination, Acquisition Related Costs Per Share, Diluted | $ 0.01 |
Note 7 - Business Segment Inf_3
Note 7 - Business Segment Information - Key Financial Measures (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Nov. 02, 2019 | Nov. 03, 2018 | Nov. 02, 2019 | Nov. 03, 2018 | Feb. 02, 2019 | ||
Net sales | $ 792,375 | $ 775,829 | $ 2,222,614 | $ 2,114,583 | ||
Intersegment sales (1) | [1] | 14,071 | 15,968 | 56,463 | 58,615 | |
Operating earnings (loss) | 43,471 | 39,748 | 98,144 | 94,838 | ||
Segment assets | 2,471,210 | 2,008,402 | 2,471,210 | 2,008,402 | $ 1,838,568 | |
Famous Footwear [Member] | ||||||
Net sales | 446,583 | 448,765 | 1,218,589 | 1,241,648 | ||
Intersegment sales (1) | [1] | 0 | 0 | 0 | 0 | |
Operating earnings (loss) | 27,681 | 24,414 | 70,036 | 79,511 | ||
Segment assets | 973,272 | 548,609 | 973,272 | 548,609 | ||
Brand Portfolio [Member] | ||||||
Net sales | 359,863 | 343,032 | 1,060,488 | 931,550 | ||
Intersegment sales (1) | [1] | 14,071 | 15,968 | 56,463 | 58,615 | |
Operating earnings (loss) | 19,398 | 25,114 | 46,225 | 52,650 | ||
Segment assets | 1,360,445 | 1,272,576 | 1,360,445 | 1,272,576 | ||
Eliminations and Other [Member] | ||||||
Net sales | (14,071) | (15,968) | (56,463) | (58,615) | ||
Intersegment sales (1) | [1] | 0 | 0 | 0 | 0 | |
Operating earnings (loss) | (3,608) | (9,780) | (18,117) | (37,323) | ||
Segment assets | $ 137,493 | $ 187,217 | $ 137,493 | $ 187,217 | ||
[1] | Included in net sales in the Brand Portfolio segment and eliminated in the Eliminations and Other category |
Note 7 - Business Segment Inf_4
Note 7 - Business Segment Information - Reconciliation of Operating Earnings Before Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Nov. 02, 2019 | Nov. 03, 2018 | Nov. 02, 2019 | Nov. 03, 2018 | |
Operating earnings (loss) | $ 43,471 | $ 39,748 | $ 98,144 | $ 94,838 |
Interest expense, net | (10,559) | (4,210) | (25,288) | (11,495) |
Other income, net | 2,633 | 3,085 | 7,902 | 9,254 |
Earnings before income taxes | $ 35,545 | $ 38,623 | $ 80,758 | $ 92,597 |
Note 8 - Inventories - Schedule
Note 8 - Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands | Nov. 02, 2019 | Feb. 02, 2019 | Nov. 03, 2018 |
Raw materials | $ 19,005 | $ 19,128 | $ 18,002 |
Work-in-process | 422 | 745 | 496 |
Finished goods | 625,219 | 663,298 | 679,767 |
Inventories, net | $ 644,646 | $ 683,171 | $ 698,265 |
Note 9 - Goodwill and Intangi_3
Note 9 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands | Oct. 18, 2018 | Jul. 06, 2018 | Nov. 02, 2019 | Feb. 02, 2019 | Nov. 03, 2018 | Nov. 02, 2019 | Nov. 03, 2018 | Feb. 02, 2019 |
Amortization of Intangible Assets, Total | $ 3,300 | $ 1,800 | $ 9,790 | $ 3,880 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year | 13,100 | 13,100 | ||||||
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 12,800 | 12,800 | ||||||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 12,700 | 12,700 | ||||||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 12,500 | 12,500 | ||||||
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 12,200 | 12,200 | ||||||
Asset Impairment Charges, Total | 5,105 | $ 2,040 | ||||||
Goodwill, Impairment Loss | 0 | 0 | ||||||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | $ 0 | $ 0 | $ 60,000 | |||||
Allen Edmonds [Member] | ||||||||
Asset Impairment Charges, Total | $ 38,000 | |||||||
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | $ 60,000 | |||||||
Vionic [Member] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | $ 144,700 | |||||||
Goodwill, Acquired During Period | 151,300 | |||||||
Vionic [Member] | Customer Relationships [Member] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | 32,300 | |||||||
Vionic [Member] | Trademarks [Member] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | $ 112,400 | |||||||
Blowfish, LLC [Member] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | $ 17,600 | |||||||
Goodwill, Acquired During Period | 5,000 | |||||||
Blowfish, LLC [Member] | Customer Relationships [Member] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | 6,500 | |||||||
Blowfish, LLC [Member] | Trademarks [Member] | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | $ 11,100 |
Note 9 - Goodwill and Intangi_4
Note 9 - Goodwill and Intangible Assets - Schedule of Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands | Nov. 02, 2019 | Feb. 02, 2019 | Nov. 03, 2018 |
Intangible Assets | $ 391,088 | $ 391,088 | $ 451,088 |
Accumulated amortization | (93,518) | (83,722) | (80,581) |
Total intangible assets, net | 297,570 | 307,366 | 370,507 |
Goodwill | 245,275 | 242,531 | 283,345 |
Goodwill and intangible assets, net | 542,845 | 549,897 | 653,852 |
Famous Footwear [Member] | |||
Intangible Assets | 2,800 | 2,800 | 2,800 |
Brand Portfolio [Member] | |||
Intangible Assets | 388,288 | 388,288 | 448,288 |
Goodwill | $ 245,275 | $ 242,531 | $ 283,345 |
Note 9 - Goodwill and Intangi_5
Note 9 - Goodwill and Intangible Assets - Finite and Infinite-Lived Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Nov. 02, 2019 | Nov. 02, 2019 | Nov. 03, 2018 | Feb. 02, 2019 | |
Finite-Lived Intangible Assets, Cost Basis | $ 391,088 | $ 391,088 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | 93,518 | 93,518 | $ 80,581 | $ 83,722 |
Finite-Lived Intangible Assets, Net Carrying Value | 297,570 | 297,570 | ||
Indefinite-Lived Intangible Assets, Cost Basis | 58,100 | 58,100 | 118,100 | 118,100 |
Indefinite-Lived Intangible Assets, Net Carrying Value | 58,100 | 58,100 | 118,100 | 58,100 |
Intangible Assets, Cost Basis | 451,088 | 451,088 | ||
Intangible Assets, Net | 297,570 | 297,570 | 370,507 | 307,366 |
Indefinite-Lived Intangible Assets, Impairment | 0 | 0 | 60,000 | |
Trademarks [Member] | ||||
Finite-Lived Intangible Assets, Cost Basis | 288,788 | 288,788 | 288,788 | 288,788 |
Finite-Lived Intangible Assets, Accumulated Amortization | 89,360 | 89,360 | 79,686 | 81,961 |
Finite-Lived Intangible Assets, Net Carrying Value | 199,428 | $ 199,428 | $ 209,102 | $ 206,827 |
Trademarks [Member] | Minimum [Member] | ||||
Finite-Lived Intangible Assets, Estimated Useful Life (Year) | 15 years | 15 years | 15 years | |
Trademarks [Member] | Maximum [Member] | ||||
Finite-Lived Intangible Assets, Estimated Useful Life (Year) | 40 years | 40 years | 40 years | |
Customer Relationships [Member] | ||||
Finite-Lived Intangible Assets, Cost Basis | 44,200 | $ 44,200 | $ 44,200 | $ 44,200 |
Finite-Lived Intangible Assets, Accumulated Amortization | 4,158 | 4,158 | 895 | 1,761 |
Finite-Lived Intangible Assets, Net Carrying Value | $ 40,042 | $ 40,042 | $ 43,305 | $ 42,439 |
Customer Relationships [Member] | Minimum [Member] | ||||
Finite-Lived Intangible Assets, Estimated Useful Life (Year) | 15 years | 15 years | 15 years | |
Customer Relationships [Member] | Maximum [Member] | ||||
Finite-Lived Intangible Assets, Estimated Useful Life (Year) | 16 years | 20 years | 16 years |
Note 10 - Leases (Details Textu
Note 10 - Leases (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | |||
Nov. 02, 2019 | Feb. 02, 2020 | Feb. 02, 2019 | Nov. 03, 2018 | |
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $ 124,700 | |||
Operating Lease, Liability, Total | 774,232 | |||
Lessor, Operating Lease, Payments to be Received, Total | 200 | |||
Operating Lease, Right-of-Use Asset | $ 704,244 | $ 0 | $ 0 | |
Forecast [Member] | ||||
Operating Lease, Liability, Total | $ 4,600 | |||
Operating Lease, Right-of-Use Asset | $ 4,600 |
Note 10 - Leases - Operating Le
Note 10 - Leases - Operating Leases (Details) | 9 Months Ended |
Nov. 02, 2019 | |
Retail Site [Member] | |
Retail stores | Approximately 45% have options of varying periods |
Retail Site [Member] | Maximum [Member] | |
Property under lease, lease term (Year) | 10 years |
Retail Site [Member] | Minimum [Member] | |
Property under lease, lease term (Year) | 5 years |
Manufacturing Facility [Member] | |
Property under lease, lease term (Year) | 8 years |
Retail stores | None |
Building [Member] | Maximum [Member] | |
Property under lease, lease term (Year) | 15 years |
Office facilities and distribution centers (Year) | 20 years |
Building [Member] | Minimum [Member] | |
Property under lease, lease term (Year) | 10 years |
Office facilities and distribution centers (Year) | 5 years |
Equipment [Member] | |
Retail stores | None |
Equipment [Member] | Maximum [Member] | |
Property under lease, lease term (Year) | 6 years |
Equipment [Member] | Minimum [Member] | |
Property under lease, lease term (Year) | 1 year |
Note 10 - Leases - Summary of L
Note 10 - Leases - Summary of Lease Assets and Liabilities (Details) - USD ($) $ in Thousands | Nov. 02, 2019 | Feb. 02, 2019 | Nov. 03, 2018 |
Operating Lease, Right-of-Use Asset | $ 704,244 | $ 0 | $ 0 |
Current lease obligations | (144,501) | 0 | 0 |
Noncurrent lease obligations | (629,731) | $ 0 | $ 0 |
Net balance sheet impact | $ (69,988) |
Note 10 - Leases - Weighted-ave
Note 10 - Leases - Weighted-average Lease Term and Discount Rate (Details) | Nov. 02, 2019 |
Weighted-average remaining lease term (in years) (Year) | 6 years 9 months 18 days |
Weighted-average discount rate | 4.10% |
Note 10 - Leases - Components o
Note 10 - Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Nov. 02, 2019 | Nov. 02, 2019 | |
Operating lease expense | $ 47,068 | $ 139,380 |
Variable lease expense | 11,794 | 35,277 |
Short-term lease expense | 577 | 2,654 |
Sublease income | (73) | (220) |
Total lease expense | $ 59,366 | $ 177,091 |
Note 10 - Leases - Future Minim
Note 10 - Leases - Future Minimum Rent Payments (Details) $ in Thousands | Nov. 02, 2019USD ($) | |
Remainder of 2019 | $ 48,312 | |
2020 | 173,074 | |
2021 | 146,124 | |
2022 | 121,234 | |
2023 | 101,674 | |
2024 | 79,038 | |
Thereafter | 174,913 | |
Total minimum lease payments (1) | 844,369 | [1] |
Less imputed interest | (70,137) | |
Operating Lease, Liability, Total | $ 774,232 | |
[1] | Minimum lease payments have not been reduced by minimum sublease rental income of $0.2 million due in the future under noncancelable sublease agreements. |
Note 10 - Leases - Supplemental
Note 10 - Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Nov. 02, 2019 | Nov. 02, 2019 | |
Cash paid for lease liabilities | $ 136,497 | |
Cash received from sublease income | $ 73 | $ 220 |
Note 11 - Long-term and Short_3
Note 11 - Long-term and Short-term Financing Arrangements (Details Textual) - USD ($) $ in Millions | Nov. 02, 2019 | Jan. 18, 2019 | Jan. 17, 2019 | Jul. 27, 2015 |
Senior Notes Due 2023 [Member] | ||||
Senior Notes, Total | $ 200 | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.25% | |||
Senior Notes, Repurchase Price, Change of Control | 101.00% | |||
Revolving Credit Facility [Member] | Third Amendment to Fourth Amended and Restated Credit Agreement [Member] | ||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 500 | $ 600 | ||
Line of Credit Facility, Option to Increase, Amount | $ 250 | |||
Line of Credit Facility, Excess Availability, Percent to Trigger Debt Restrictions | 10.00% | |||
Line of Credit Facility, Excess Availability to Trigger Debt Restrictions | $ 40 | |||
Line of Credit Facility, Fixed Charge Coverage Ratio to Trigger Debt Restrictions | 1 | |||
Long-term Line of Credit, Total | $ 295 | |||
Letters of Credit Outstanding, Amount | 10.5 | |||
Line of Credit Facility, Remaining Borrowing Capacity | $ 194.5 |
Note 11 - Long-term and Short_4
Note 11 - Long-term and Short-term Financing Arrangements - Schedule of Redemption Price Percentage (Details) - Senior Notes Due 2023 [Member] | 9 Months Ended |
Nov. 02, 2019 | |
Debt Instrument, Redemption, Period One [Member] | |
Debt Instrument, Redemption Price, Percentage | 103.125% |
Debt Instrument, Redemption, Period Two [Member] | |
Debt Instrument, Redemption Price, Percentage | 101.563% |
Debt Instrument, Redemption, Period Three [Member] | |
Debt Instrument, Redemption Price, Percentage | 100.00% |
Note 12 - Shareholders' Equit_2
Note 12 - Shareholders' Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Nov. 02, 2019 | Nov. 03, 2018 | Nov. 02, 2019 | Nov. 03, 2018 | ||
Balance at beginning of period | $ (31,601) | ||||
Other comprehensive income (loss), net of tax | $ 1,074 | $ 145 | 1,249 | $ (1,454) | |
Balance at end of period | (30,318) | (16,624) | (30,318) | (16,624) | |
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | |||||
Balance at beginning of period | (896) | 176 | 62 | 1,235 | |
Other comprehensive income before reclassifications | 595 | 14 | (363) | (1,045) | |
Amounts reclassified from accumulated other comprehensive loss | 0 | 0 | 0 | 0 | |
Tax (benefit) provision | 0 | 0 | 0 | 0 | |
Net reclassifications | 0 | 0 | 0 | 0 | |
Other comprehensive income (loss), net of tax | 595 | 14 | (363) | (1,045) | |
Balance at end of period | (301) | 190 | (301) | 190 | |
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member] | |||||
Balance at beginning of period | [1] | (30,199) | (16,270) | (31,055) | (17,172) |
Other comprehensive income before reclassifications | [1] | 0 | 0 | 0 | 0 |
Amounts reclassified from accumulated other comprehensive loss | [1] | 578 | 607 | 1,733 | 1,823 |
Tax (benefit) provision | [1] | (149) | (156) | (448) | (470) |
Net reclassifications | [1] | 429 | 451 | 1,285 | 1,353 |
Other comprehensive income (loss), net of tax | [1] | 429 | 451 | 1,285 | 1,353 |
Balance at end of period | [1] | (29,770) | (15,819) | (29,770) | (15,819) |
AOCI, Derivative Qualifying as Hedge, Excluded Component, Parent [Member] | |||||
Balance at beginning of period | [2] | (310) | (675) | (608) | 767 |
Other comprehensive income before reclassifications | [2] | 66 | (415) | 160 | (1,648) |
Amounts reclassified from accumulated other comprehensive loss | [2] | (4) | 120 | 254 | (147) |
Tax (benefit) provision | [2] | 1 | (25) | (53) | 33 |
Net reclassifications | [2] | (3) | 95 | 201 | (114) |
Other comprehensive income (loss), net of tax | [2] | 63 | (320) | 361 | (1,762) |
Balance at end of period | [2] | (247) | (995) | (247) | (995) |
AOCI Attributable to Parent [Member] | |||||
Balance at beginning of period | (31,405) | (16,769) | (31,601) | (15,170) | |
Other comprehensive income before reclassifications | 661 | (401) | (203) | (2,693) | |
Amounts reclassified from accumulated other comprehensive loss | 574 | 727 | 1,987 | 1,676 | |
Tax (benefit) provision | (148) | (181) | (501) | (437) | |
Net reclassifications | 426 | 546 | 1,486 | 1,239 | |
Other comprehensive income (loss), net of tax | 1,087 | 145 | 1,283 | (1,454) | |
Balance at end of period | $ (30,318) | $ (16,624) | $ (30,318) | $ (16,624) | |
[1] | Amounts reclassified are included in other income, net. Refer to Note 14 to the condensed consolidated financial statements for additional information related to pension and other postretirement benefits. | ||||
[2] | Amounts reclassified are included in net sales, costs of goods sold and selling and administrative expenses. Refer to Note 15 and Note 16 to the condensed consolidated financial statements for additional information related to derivative financial instruments. |
Note 13 - Share-based Compens_3
Note 13 - Share-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 9 Months Ended | |||
Nov. 02, 2019 | Nov. 03, 2018 | Nov. 02, 2019 | Nov. 02, 2019 | Nov. 03, 2018 | |
Share-based Payment Arrangement, Expense | $ 2.4 | $ 3.6 | $ 8.9 | $ 11.6 | |
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total | (69,377) | 17,225 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | 295,466 | 290,756 | |||
Restricted Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 11,000 | 45,000 | 461,234 | 461,234 | 378,833 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 22.44 | $ 33.52 | $ 22.94 | $ 32.24 | |
Restricted Stock [Member] | Share-based Compensation Award, Cliff-vesting, Tranche One [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 12,914 | 3,642 | |||
Restricted Stock [Member] | Share-based Compensation Award, Cliff-vesting, Tranche Two [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 448,320 | 9,500 | |||
Restricted Stock [Member] | Share-based Compensation Award, Cliff-vesting, Tranche Three [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 365,691 | ||||
Performance Shares [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 0 | 0 | 180,000 | 155,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 23.42 | $ 31.84 | |||
Performance Shares [Member] | Minimum [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Performance Percentage Earned | 0.00% | ||||
Performance Shares [Member] | Maximum [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Performance Percentage Earned | 200.00% | ||||
Restricted Stock Units (RSUs) [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 1,350 | 780 | 55,679 | 38,728 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 23.27 | $ 35.66 | $ 19.59 | $ 34.33 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Dividend Equivalent | 4,023 | 2,308 |
Note 13 - Share-Based Compens_4
Note 13 - Share-Based Compensation - Restricted Stock Activity (Details) - Restricted Stock [Member] - $ / shares | 3 Months Ended | 9 Months Ended | |||
Nov. 02, 2019 | Nov. 03, 2018 | Nov. 02, 2019 | Nov. 02, 2019 | Nov. 03, 2018 | |
Balance, total number of restricted shares (in shares) | 1,433,470 | 1,205,898 | 1,249,223 | 1,174,801 | |
Balance, weighted-average grant date fair value (in dollars per share) | $ 27.09 | $ 29.04 | $ 29.17 | $ 27.92 | |
Granted, total number of restricted shares (in shares) | 11,000 | 45,000 | 461,234 | 461,234 | 378,833 |
Granted, weighted-average grant date fair value (in dollars per share) | $ 22.44 | $ 33.52 | $ 22.94 | $ 32.24 | |
Forfeited, total number of restricted shares (in shares) | (78,000) | (27,650) | (135,425) | (44,950) | |
Forfeited, weighted-average grant date fair value (in dollars per share) | $ 30.75 | $ 29.24 | $ 29.91 | $ 28.69 | |
Vested, total number of restricted shares (in shares) | (10,000) | 0 | (218,562) | (285,436) | |
Vested, weighted-average grant date fair value (in dollars per share) | $ 32.85 | $ 0 | $ 30.25 | $ 28.06 | |
Balance, total number of restricted shares (in shares) | 1,356,470 | 1,223,248 | 1,356,470 | 1,356,470 | 1,223,248 |
Balance, weighted-average grant date fair value (in dollars per share) | $ 26.80 | $ 29.20 | $ 26.80 | $ 26.80 | $ 29.20 |
Note 13 - Share-Based Compens_5
Note 13 - Share-Based Compensation - Stock Option Activity (Details) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Nov. 02, 2019 | Nov. 03, 2018 | Nov. 02, 2019 | Nov. 03, 2018 | |
Balance, total number of stock options (in shares) | 39,667 | 44,667 | 42,667 | 81,042 |
Balance, weighted-average grant date fair value (in dollars per share) | $ 8.84 | $ 8.32 | $ 8.64 | $ 6.28 |
Granted, total number of stock options (in shares) | 0 | 0 | 0 | 0 |
Granted, weighted-average grant date fair value (in dollars per share) | $ 0 | $ 0 | $ 0 | $ 0 |
Exercised, total number of stock options (in shares) | (2,000) | 0 | (3,000) | (32,375) |
Exercised, weighted-average grant date fair value (in dollars per share) | $ 4.64 | $ 0 | $ 6 | $ 3.52 |
Forfeited, total number of stock options (in shares) | 0 | 0 | (2,000) | 0 |
Forfeited, weighted-average grant date fair value (in dollars per share) | $ 0 | $ 0 | $ 4.57 | $ 0 |
Expired, total number of stock options (in shares) | 0 | 0 | 0 | (4,000) |
Expired, weighted-average grant date fair value (in dollars per share) | $ 0 | $ 0 | $ 0 | $ 5.80 |
Balance, total number of stock options (in shares) | 37,667 | 44,667 | 37,667 | 44,667 |
Balance, weighted-average grant date fair value (in dollars per share) | $ 9.06 | $ 8.32 | $ 9.06 | $ 8.32 |
Note 14 - Retirement and Othe_3
Note 14 - Retirement and Other Benefit Plans - Components of Net Periodic Benefit Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Nov. 02, 2019 | Nov. 03, 2018 | Nov. 02, 2019 | Nov. 03, 2018 | |
Pension Plan [Member] | ||||
Service cost | $ 1,805 | $ 2,240 | $ 5,414 | $ 6,717 |
Interest cost | 3,707 | 3,546 | 11,112 | 10,636 |
Expected return on assets | (6,933) | (7,253) | (20,792) | (21,757) |
Actuarial loss (gain) | 977 | 1,030 | 2,929 | 3,092 |
Prior service income | (372) | (392) | (1,115) | (1,176) |
Total net periodic benefit income | (816) | (829) | (2,452) | (2,488) |
Other Postretirement Benefits Plan [Member] | ||||
Service cost | 0 | 0 | 0 | 0 |
Interest cost | 15 | 15 | 45 | 44 |
Expected return on assets | 0 | 0 | 0 | 0 |
Actuarial loss (gain) | (27) | (31) | (81) | (93) |
Prior service income | 0 | 0 | 0 | 0 |
Total net periodic benefit income | $ (12) | $ (16) | $ (36) | $ (49) |
Note 15 - Risk Management and_3
Note 15 - Risk Management and Derivatives - Net Notional Amount of All Purchase and Sale Contracts of a Foreign Currency (Details) - USD ($) $ in Thousands | Nov. 02, 2019 | Feb. 02, 2019 | Nov. 03, 2018 |
Foreign Exchange Forward, Euro [Member] | |||
Notional Amount | $ 3,235 | $ 13,383 | $ 13,480 |
Foreign Exchange Forward, US Dollars [Member] | |||
Notional Amount | 5,763 | 15,196 | 13,877 |
Foreign Exchange Forward, Chinese Yuan [Member] | |||
Notional Amount | 2,905 | 4,507 | 6,570 |
Foreign Exchange Forward, New Taiwanese Dollars [Member] | |||
Notional Amount | 0 | 461 | 530 |
Foreign Exchange Forward, Other Currencies [Member] | |||
Notional Amount | 139 | 382 | 388 |
Foreign Exchange Forward [Member] | |||
Notional Amount | $ 12,042 | $ 33,929 | $ 34,845 |
Note 15 - Risk Management and_4
Note 15 - Risk Management and Derivatives - Schedule of Fair Values of Derivative Instruments Designated as Hedging Instruments (Details) - Foreign Exchange Forward [Member] - USD ($) $ in Thousands | Nov. 02, 2019 | Feb. 02, 2019 | Nov. 03, 2018 |
Prepaid Expenses and Other Current Assets [Member] | |||
Asset Derivatives | $ 17 | $ 159 | $ 203 |
Accounts Payable and Accrued Liabilities [Member] | |||
Liability Derivatives | $ 325 | $ 745 | $ 1,414 |
Note 15 - Risk Management and_5
Note 15 - Risk Management and Derivatives - Effect of Derivative Instruments in Cash Flow Hedging Relationships (Details) - Foreign Exchange Forward [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Nov. 02, 2019 | Nov. 03, 2018 | Nov. 02, 2019 | Nov. 03, 2018 | |
Sales [Member] | ||||
Loss Recognized in OCL on Derivatives | $ 69 | $ (78) | $ (51) | $ (120) |
(Loss) Gain Reclassified from Accumulated OCL into Earnings | 2 | 0 | (3) | (4) |
Cost of Sales [Member] | ||||
Loss Recognized in OCL on Derivatives | 38 | (286) | 390 | (970) |
(Loss) Gain Reclassified from Accumulated OCL into Earnings | 0 | 26 | (38) | (37) |
Selling, General and Administrative Expenses [Member] | ||||
Loss Recognized in OCL on Derivatives | (33) | (152) | (147) | (955) |
(Loss) Gain Reclassified from Accumulated OCL into Earnings | $ 2 | $ (146) | $ (213) | $ 188 |
Note 16 - Fair Value Measurem_3
Note 16 - Fair Value Measurements (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |
Nov. 02, 2019 | Nov. 02, 2019 | Nov. 03, 2018 | |
Deferred Compensation Plan, Maximum Percentage of Deferral of Base Salary | 50.00% | 50.00% | |
Deferred Compensation Plan, Maximum Percentage of Deferral of Annual Incentive Compensation | 100.00% | 100.00% | |
Accretion and Remeasurement Adjustments | $ 3.9 | $ 4.4 | |
Long-lived Assets, Held and Used | $ 658.1 | $ 658.1 | $ 102.8 |
Note 16 - Fair Value Measurem_4
Note 16 - Fair Value Measurements - Assets and Liabilities Measured on a Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Nov. 02, 2019 | Feb. 02, 2019 | Nov. 03, 2018 |
Non-qualified deferred compensation plan assets | $ 8,117 | $ 7,270 | $ 7,723 |
Non-qualified deferred compensation plan liabilities | (8,117) | (7,270) | (7,723) |
Deferred compensation plan liabilities for non-employee directors | (1,879) | (2,364) | (2,772) |
Restricted stock units for non-employee directors | (3,282) | (4,419) | (5,395) |
Derivative financial instruments, net | (308) | (586) | (1,211) |
Mandatory purchase obligation - Blowfish Malibu | (13,655) | (9,245) | (9,138) |
Cash equivalents – money market funds | 4,582 | 56,668 | |
Fair Value, Inputs, Level 1 [Member] | |||
Non-qualified deferred compensation plan assets | 8,117 | 7,270 | 7,223 |
Non-qualified deferred compensation plan liabilities | (8,117) | (7,270) | (7,223) |
Deferred compensation plan liabilities for non-employee directors | (1,879) | (2,364) | (2,772) |
Restricted stock units for non-employee directors | (3,282) | (4,419) | (5,395) |
Derivative financial instruments, net | 0 | 0 | 0 |
Mandatory purchase obligation - Blowfish Malibu | 0 | 0 | 0 |
Cash equivalents – money market funds | 4,582 | 56,668 | |
Fair Value, Inputs, Level 2 [Member] | |||
Non-qualified deferred compensation plan assets | 0 | 0 | 0 |
Non-qualified deferred compensation plan liabilities | 0 | 0 | 0 |
Deferred compensation plan liabilities for non-employee directors | 0 | 0 | 0 |
Restricted stock units for non-employee directors | 0 | 0 | 0 |
Derivative financial instruments, net | (308) | (586) | (1,211) |
Mandatory purchase obligation - Blowfish Malibu | 0 | 0 | 0 |
Cash equivalents – money market funds | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | |||
Non-qualified deferred compensation plan assets | 0 | 0 | 0 |
Non-qualified deferred compensation plan liabilities | 0 | 0 | 0 |
Deferred compensation plan liabilities for non-employee directors | 0 | 0 | 0 |
Restricted stock units for non-employee directors | 0 | 0 | 0 |
Derivative financial instruments, net | 0 | 0 | 0 |
Mandatory purchase obligation - Blowfish Malibu | $ (13,655) | (9,245) | (9,138) |
Cash equivalents – money market funds | $ 0 | $ 0 |
Note 16 - Fair Value Measurem_5
Note 16 - Fair Value Measurements - Impairment Charges (Details) - Selling, General and Administrative Expenses [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Nov. 02, 2019 | Nov. 03, 2018 | Nov. 02, 2019 | Nov. 03, 2018 | |
Total impairment charges | $ 2,151 | $ 1,107 | $ 5,105 | $ 2,040 |
Famous Footwear [Member] | ||||
Total impairment charges | 769 | 150 | 1,509 | 450 |
Brand Portfolio [Member] | ||||
Total impairment charges | $ 1,382 | $ 957 | $ 3,596 | $ 1,590 |
Note 16 - Fair Value Measurem_6
Note 16 - Fair Value Measurements - Fair Value of Financial Instruments (Details) - USD ($) $ in Millions | Nov. 02, 2019 | Feb. 02, 2019 | Nov. 03, 2018 | |
Borrowings under revolving credit agreement | $ 295 | $ 335 | ||
Long-term debt | 206.2 | 200 | ||
Total debt | 501.2 | 535 | ||
Reported Value Measurement [Member] | ||||
Borrowings under revolving credit agreement | [1] | 295 | $ 350 | |
Long-term debt | [1] | 200 | 203.5 | |
Total debt | [1] | $ 495 | 553.5 | |
Estimate of Fair Value Measurement [Member] | ||||
Borrowings under revolving credit agreement | 335 | 350 | ||
Long-term debt | 205.5 | 200 | ||
Total debt | $ 540.5 | $ 550 | ||
[1] | Excludes unamortized debt issuance costs and debt discount |
Note 17 - Income Taxes (Details
Note 17 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Nov. 02, 2019 | Nov. 03, 2018 | Nov. 02, 2019 | Nov. 03, 2018 | |
Effective Income Tax Rate Reconciliation, Percent, Total | 21.90% | 24.50% | 23.10% | 24.50% |
Other Tax Expense (Benefit) | $ 700 | |||
Effective Income Tax Rate, Before Discrete Benefits of Provisions | 25.40% | |||
Foreign Tax Authority [Member] | ||||
Deferred Income Tax Expense (Benefit), Total | $ 0 |
Note 18 - Commitments and Con_2
Note 18 - Commitments and Contingencies (Details Textual) - Redfield Site [Member] $ in Millions | 9 Months Ended |
Nov. 02, 2019USD ($) | |
Cumulative Environmental Remediation Expense | $ 30.9 |
Environmental Exit Costs, Assets Previously Disposed, Liability for Remediation | 9.7 |
Reserve For Anticipated Future Remediation Activities For Off Site Remediation | 5.1 |
Reserve For Anticipated Future Remediation Activities For On Site Remediation | $ 4.6 |
Accrual for Environmental Loss Contingencies, Discount Rate | 4.80% |
Accrual for Environmental Loss Contingencies, Gross, Total | $ 14 |
Accrual for Environmental Loss Contingencies, Undiscounted, Next Twelve Months | 0.5 |
Accrual for Environmental Loss Contingencies, Undiscounted, Second Year | 0.1 |
Accrual for Environmental Loss Contingencies, Undiscounted, Third Year | 0.1 |
Accrual for Environmental Loss Contingencies, Undiscounted, Fourth Year | 0.1 |
Accrual for Environmental Loss Contingencies, Undiscounted, Fifth Year | 0.1 |
Accrual for Environmental Loss Contingencies, Undiscounted, after Fifth Year | 13.1 |
Other Noncurrent Liabilities [Member] | |
Environmental Exit Costs, Assets Previously Disposed, Liability for Remediation | 9 |
Accounts Payable and Accrued Liabilities [Member] | |
Environmental Exit Costs, Assets Previously Disposed, Liability for Remediation | $ 0.7 |
Note 19 - Financial Informati_3
Note 19 - Financial Information for the Company and its Subsidiaries (Details Textual) | Nov. 02, 2019 |
Percentage, Ownership of Guarantors by Parent | 100.00% |
Note 19 - Financial Informati_4
Note 19 - Financial Information for the Company and its Subsidiaries - Schedule of Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Thousands | Nov. 02, 2019 | Aug. 03, 2019 | Feb. 02, 2019 | Nov. 03, 2018 | Aug. 04, 2018 | Feb. 03, 2018 |
Cash and cash equivalents | $ 52,502 | $ 30,200 | $ 90,491 | $ 64,047 | ||
Receivables, net | 156,253 | 191,722 | 192,246 | |||
Inventories, net | 644,646 | 683,171 | 698,265 | |||
Prepaid expenses and other current assets | 48,245 | 71,354 | 63,166 | |||
Intercompany receivable – current | 0 | 0 | 0 | |||
Total current assets | 901,646 | 976,447 | 1,044,168 | |||
Other assets | 92,214 | 81,440 | 92,279 | |||
Goodwill and intangible assets, net | 542,845 | 549,897 | 653,852 | |||
Lease right-of-use assets | 704,244 | 0 | 0 | |||
Property and equipment, net | 230,261 | 230,784 | 218,103 | |||
Investment in subsidiaries | 0 | 0 | 0 | |||
Intercompany receivable – noncurrent | 0 | 0 | 0 | |||
Total assets | 2,471,210 | 1,838,568 | 2,008,402 | |||
Borrowings under revolving credit agreement | 295,000 | 335,000 | 350,000 | |||
Trade accounts payable | 275,699 | 316,298 | 317,499 | |||
Lease obligations | 144,501 | 0 | 0 | |||
Other accrued expenses | 179,030 | 202,038 | 209,479 | |||
Intercompany payable – current | 0 | 0 | 0 | |||
Total current liabilities | 894,230 | 853,336 | 876,978 | |||
Noncurrent lease obligations | 629,731 | 0 | 0 | |||
Long-term debt | 198,276 | 197,932 | 197,817 | |||
Other liabilities | 95,623 | 151,865 | 166,522 | |||
Intercompany payable – noncurrent | 0 | 0 | 0 | |||
Total other liabilities | 923,630 | 349,797 | 364,339 | |||
Caleres, Inc. shareholders’ equity | 650,840 | 634,053 | 765,753 | |||
Noncontrolling interests | 2,510 | 1,382 | 1,332 | |||
Total equity | 653,350 | $ 624,678 | 635,435 | 767,085 | $ 737,194 | 718,962 |
Total liabilities and equity | 2,471,210 | 1,838,568 | 2,008,402 | |||
Consolidation, Eliminations [Member] | ||||||
Cash and cash equivalents | 0 | 0 | 0 | 0 | ||
Receivables, net | 0 | 0 | 0 | |||
Inventories, net | 0 | 0 | 0 | |||
Prepaid expenses and other current assets | 0 | 0 | (11,344) | |||
Intercompany receivable – current | (10,851) | (15,511) | (8,466) | |||
Total current assets | (10,851) | (15,511) | (19,810) | |||
Other assets | 0 | 0 | 0 | |||
Goodwill and intangible assets, net | 0 | 0 | 0 | |||
Lease right-of-use assets | 0 | |||||
Property and equipment, net | 0 | 0 | 0 | |||
Investment in subsidiaries | (1,534,783) | (1,474,371) | (1,552,004) | |||
Intercompany receivable – noncurrent | (2,044,096) | (1,938,617) | (1,889,200) | |||
Total assets | (3,589,730) | (3,428,499) | (3,461,014) | |||
Borrowings under revolving credit agreement | 0 | 0 | 0 | |||
Trade accounts payable | 0 | 0 | 0 | |||
Lease obligations | 0 | |||||
Other accrued expenses | 0 | 0 | (11,344) | |||
Intercompany payable – current | (10,851) | (15,511) | (8,466) | |||
Total current liabilities | (10,851) | (15,511) | (19,810) | |||
Noncurrent lease obligations | 0 | |||||
Long-term debt | 0 | 0 | 0 | |||
Other liabilities | 0 | 0 | 0 | |||
Intercompany payable – noncurrent | (2,044,096) | (1,938,617) | (1,889,200) | |||
Total other liabilities | (2,044,096) | (1,938,617) | (1,889,200) | |||
Caleres, Inc. shareholders’ equity | (1,534,783) | (1,474,371) | (1,552,004) | |||
Noncontrolling interests | 0 | 0 | 0 | |||
Total equity | (1,534,783) | (1,474,371) | (1,552,004) | |||
Total liabilities and equity | (3,589,730) | (3,428,499) | (3,461,014) | |||
Parent Company [Member] | ||||||
Cash and cash equivalents | 2,487 | 2 | 4,012 | 26,089 | ||
Receivables, net | 108,118 | 130,684 | 145,363 | |||
Inventories, net | 133,258 | 175,697 | 154,706 | |||
Prepaid expenses and other current assets | 28,534 | 31,195 | 34,621 | |||
Intercompany receivable – current | 144 | 190 | 291 | |||
Total current assets | 272,541 | 337,768 | 338,993 | |||
Other assets | 79,868 | 68,707 | 78,640 | |||
Goodwill and intangible assets, net | 107,217 | 108,884 | 109,441 | |||
Lease right-of-use assets | 123,490 | |||||
Property and equipment, net | 76,550 | 62,608 | 43,761 | |||
Investment in subsidiaries | 1,560,733 | 1,499,209 | 1,576,825 | |||
Intercompany receivable – noncurrent | 602,934 | 597,515 | 583,048 | |||
Total assets | 2,823,333 | 2,674,691 | 2,730,708 | |||
Borrowings under revolving credit agreement | 295,000 | 335,000 | 350,000 | |||
Trade accounts payable | 115,407 | 146,400 | 141,012 | |||
Lease obligations | 11,450 | |||||
Other accrued expenses | 65,810 | 95,498 | 85,253 | |||
Intercompany payable – current | 5,343 | 10,781 | 3,363 | |||
Total current liabilities | 493,010 | 587,679 | 579,628 | |||
Noncurrent lease obligations | 126,347 | |||||
Long-term debt | 198,276 | 197,932 | 197,817 | |||
Other liabilities | 92,293 | 105,689 | 119,291 | |||
Intercompany payable – noncurrent | 1,262,567 | 1,149,338 | 1,068,219 | |||
Total other liabilities | 1,679,483 | 1,452,959 | 1,385,327 | |||
Caleres, Inc. shareholders’ equity | 650,840 | 634,053 | 765,753 | |||
Noncontrolling interests | 0 | 0 | 0 | |||
Total equity | 650,840 | 634,053 | 765,753 | |||
Total liabilities and equity | 2,823,333 | 2,674,691 | 2,730,708 | |||
Guarantor Subsidiaries [Member] | ||||||
Cash and cash equivalents | 20,040 | 9,148 | 11,817 | 0 | ||
Receivables, net | 30,427 | 32,319 | 30,040 | |||
Inventories, net | 476,687 | 470,610 | 513,448 | |||
Prepaid expenses and other current assets | 14,494 | 32,556 | 33,869 | |||
Intercompany receivable – current | 96 | 42 | 137 | |||
Total current assets | 541,744 | 544,675 | 589,311 | |||
Other assets | 11,131 | 11,824 | 12,330 | |||
Goodwill and intangible assets, net | 328,562 | 331,810 | 335,419 | |||
Lease right-of-use assets | 548,639 | |||||
Property and equipment, net | 143,402 | 157,270 | 163,019 | |||
Investment in subsidiaries | 0 | 0 | 0 | |||
Intercompany receivable – noncurrent | 640,835 | 578,821 | 560,563 | |||
Total assets | 2,214,313 | 1,624,400 | 1,660,642 | |||
Borrowings under revolving credit agreement | 0 | 0 | 0 | |||
Trade accounts payable | 128,490 | 130,670 | 151,127 | |||
Lease obligations | 126,438 | |||||
Other accrued expenses | 91,013 | 86,015 | 111,490 | |||
Intercompany payable – current | 0 | 0 | 0 | |||
Total current liabilities | 345,941 | 216,685 | 262,617 | |||
Noncurrent lease obligations | 472,579 | |||||
Long-term debt | 0 | 0 | 0 | |||
Other liabilities | 2,399 | 41,149 | 42,185 | |||
Intercompany payable – noncurrent | 114,458 | 115,114 | 95,440 | |||
Total other liabilities | 589,436 | 156,263 | 137,625 | |||
Caleres, Inc. shareholders’ equity | 1,278,936 | 1,251,452 | 1,260,400 | |||
Noncontrolling interests | 0 | 0 | 0 | |||
Total equity | 1,278,936 | 1,251,452 | 1,260,400 | |||
Total liabilities and equity | 2,214,313 | 1,624,400 | 1,660,642 | |||
Non-Guarantor Subsidiaries [Member] | ||||||
Cash and cash equivalents | 29,975 | 21,050 | 74,662 | $ 37,958 | ||
Receivables, net | 17,708 | 28,719 | 16,843 | |||
Inventories, net | 34,701 | 36,864 | 30,111 | |||
Prepaid expenses and other current assets | 5,217 | 7,603 | 6,020 | |||
Intercompany receivable – current | 10,611 | 15,279 | 8,038 | |||
Total current assets | 98,212 | 109,515 | 135,674 | |||
Other assets | 1,215 | 909 | 1,309 | |||
Goodwill and intangible assets, net | 107,066 | 109,203 | 208,992 | |||
Lease right-of-use assets | 32,115 | |||||
Property and equipment, net | 10,309 | 10,906 | 11,323 | |||
Investment in subsidiaries | (25,950) | (24,838) | (24,821) | |||
Intercompany receivable – noncurrent | 800,327 | 762,281 | 745,589 | |||
Total assets | 1,023,294 | 967,976 | 1,078,066 | |||
Borrowings under revolving credit agreement | 0 | 0 | 0 | |||
Trade accounts payable | 31,802 | 39,228 | 25,360 | |||
Lease obligations | 6,613 | |||||
Other accrued expenses | 22,207 | 20,525 | 24,080 | |||
Intercompany payable – current | 5,508 | 4,730 | 5,103 | |||
Total current liabilities | 66,130 | 64,483 | 54,543 | |||
Noncurrent lease obligations | 30,805 | |||||
Long-term debt | 0 | 0 | 0 | |||
Other liabilities | 931 | 5,027 | 5,046 | |||
Intercompany payable – noncurrent | 667,071 | 674,165 | 725,541 | |||
Total other liabilities | 698,807 | 679,192 | 730,587 | |||
Caleres, Inc. shareholders’ equity | 255,847 | 222,919 | 291,604 | |||
Noncontrolling interests | 2,510 | 1,382 | 1,332 | |||
Total equity | 258,357 | 224,301 | 292,936 | |||
Total liabilities and equity | $ 1,023,294 | $ 967,976 | $ 1,078,066 |
Note 19 - Financial Informati_5
Note 19 - Financial Information for the Company and its Subsidiaries - Schedule of Condensed Consolidating Statement of Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Nov. 02, 2019 | Nov. 03, 2018 | Nov. 02, 2019 | Nov. 03, 2018 | |
Net sales | $ 792,375 | $ 775,829 | $ 2,222,614 | $ 2,114,583 |
Cost of goods sold | 472,605 | 465,219 | 1,317,064 | 1,235,950 |
Gross profit | 319,770 | 310,610 | 905,550 | 878,633 |
Selling and administrative expenses | 275,330 | 265,522 | 804,972 | 774,555 |
Restructuring and other special charges, net | 969 | 5,340 | 2,434 | 9,240 |
Operating earnings (loss) | 43,471 | 39,748 | 98,144 | 94,838 |
Interest (expense) income | (10,559) | (4,210) | (25,288) | (11,495) |
Other income (expense) | 2,633 | 3,085 | 7,902 | 9,254 |
Intercompany interest income (expense) | 0 | 0 | 0 | 0 |
Earnings before income taxes | 35,545 | 38,623 | 80,758 | 92,597 |
Income tax benefit (provision) | (7,784) | (9,468) | (18,685) | (22,651) |
Equity in earnings (loss) of subsidiaries, net of tax | 0 | 0 | 0 | 0 |
Net earnings | 27,761 | 29,155 | 62,073 | 69,946 |
Less: Net loss attributable to noncontrolling interests | (226) | 2 | (338) | (65) |
Net earnings attributable to Caleres, Inc. | 27,987 | 29,153 | 62,411 | 70,011 |
Comprehensive income | 28,835 | 29,300 | 63,322 | 68,492 |
Less: Comprehensive loss attributable to noncontrolling interests | (239) | (9) | (372) | (141) |
Comprehensive income attributable to Caleres, Inc. | 29,074 | 29,309 | 63,694 | 68,633 |
Consolidation, Eliminations [Member] | ||||
Net sales | (53,725) | (67,517) | (179,512) | (189,930) |
Cost of goods sold | (45,776) | (56,618) | (151,412) | (158,765) |
Gross profit | (7,949) | (10,899) | (28,100) | (31,165) |
Selling and administrative expenses | (7,949) | (10,899) | (28,100) | (31,165) |
Restructuring and other special charges, net | 0 | 0 | 0 | 0 |
Operating earnings (loss) | 0 | 0 | 0 | 0 |
Interest (expense) income | 0 | 0 | 0 | 0 |
Other income (expense) | 0 | 0 | 0 | 0 |
Intercompany interest income (expense) | 0 | 0 | 0 | 0 |
Earnings before income taxes | 0 | 0 | 0 | 0 |
Income tax benefit (provision) | 0 | 0 | 0 | 0 |
Equity in earnings (loss) of subsidiaries, net of tax | (22,828) | (22,821) | (61,238) | (72,406) |
Net earnings | (22,828) | (22,821) | (61,238) | (72,406) |
Less: Net loss attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Net earnings attributable to Caleres, Inc. | (22,828) | (22,821) | (61,238) | (72,406) |
Comprehensive income | (23,402) | (22,822) | (60,785) | (72,200) |
Less: Comprehensive loss attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Comprehensive income attributable to Caleres, Inc. | (23,402) | (22,822) | (60,785) | (72,200) |
Parent Company [Member] | ||||
Net sales | 223,640 | 240,295 | 623,292 | 651,807 |
Cost of goods sold | 148,245 | 163,609 | 426,872 | 448,832 |
Gross profit | 75,395 | 76,686 | 196,420 | 202,975 |
Selling and administrative expenses | 61,728 | 64,766 | 181,662 | 204,696 |
Restructuring and other special charges, net | 969 | 4,831 | 2,434 | 5,679 |
Operating earnings (loss) | 12,698 | 7,089 | 12,324 | (7,400) |
Interest (expense) income | (10,564) | (4,484) | (25,294) | (12,108) |
Other income (expense) | 2,653 | 3,101 | 7,960 | 9,305 |
Intercompany interest income (expense) | 2,660 | 2,976 | 8,231 | 8,617 |
Earnings before income taxes | 7,447 | 8,682 | 3,221 | (1,586) |
Income tax benefit (provision) | (2,776) | (3,012) | (3,159) | (2,065) |
Equity in earnings (loss) of subsidiaries, net of tax | 23,316 | 23,483 | 62,349 | 73,662 |
Net earnings | 27,987 | 29,153 | 62,411 | 70,011 |
Less: Net loss attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Net earnings attributable to Caleres, Inc. | 27,987 | 29,153 | 62,411 | 70,011 |
Comprehensive income | 29,074 | 29,309 | 63,694 | 68,633 |
Less: Comprehensive loss attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Comprehensive income attributable to Caleres, Inc. | 29,074 | 29,309 | 63,694 | 68,633 |
Guarantor Subsidiaries [Member] | ||||
Net sales | 563,398 | 540,379 | 1,584,601 | 1,487,877 |
Cost of goods sold | 340,009 | 325,966 | 940,140 | 862,345 |
Gross profit | 223,389 | 214,413 | 644,461 | 625,532 |
Selling and administrative expenses | 204,612 | 195,318 | 600,020 | 558,714 |
Restructuring and other special charges, net | 0 | 509 | 0 | 3,561 |
Operating earnings (loss) | 18,777 | 18,586 | 44,441 | 63,257 |
Interest (expense) income | (25) | 0 | (77) | (25) |
Other income (expense) | 0 | 0 | 0 | 0 |
Intercompany interest income (expense) | (2,709) | (2,951) | (8,292) | (8,650) |
Earnings before income taxes | 16,043 | 15,635 | 36,072 | 54,582 |
Income tax benefit (provision) | (3,651) | (4,122) | (9,393) | (14,257) |
Equity in earnings (loss) of subsidiaries, net of tax | 0 | 0 | 0 | 0 |
Net earnings | 12,392 | 11,513 | 26,679 | 40,325 |
Less: Net loss attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Net earnings attributable to Caleres, Inc. | 12,392 | 11,513 | 26,679 | 40,325 |
Comprehensive income | 12,445 | 11,451 | 26,641 | 40,235 |
Less: Comprehensive loss attributable to noncontrolling interests | 0 | 0 | 0 | 0 |
Comprehensive income attributable to Caleres, Inc. | 12,445 | 11,451 | 26,641 | 40,235 |
Non-Guarantor Subsidiaries [Member] | ||||
Net sales | 59,062 | 62,672 | 194,233 | 164,829 |
Cost of goods sold | 30,127 | 32,262 | 101,464 | 83,538 |
Gross profit | 28,935 | 30,410 | 92,769 | 81,291 |
Selling and administrative expenses | 16,939 | 16,337 | 51,390 | 42,310 |
Restructuring and other special charges, net | 0 | 0 | 0 | 0 |
Operating earnings (loss) | 11,996 | 14,073 | 41,379 | 38,981 |
Interest (expense) income | 30 | 274 | 83 | 638 |
Other income (expense) | (20) | (16) | (58) | (51) |
Intercompany interest income (expense) | 49 | (25) | 61 | 33 |
Earnings before income taxes | 12,055 | 14,306 | 41,465 | 39,601 |
Income tax benefit (provision) | (1,357) | (2,334) | (6,133) | (6,329) |
Equity in earnings (loss) of subsidiaries, net of tax | (488) | (662) | (1,111) | (1,256) |
Net earnings | 10,210 | 11,310 | 34,221 | 32,016 |
Less: Net loss attributable to noncontrolling interests | (226) | 2 | (338) | (65) |
Net earnings attributable to Caleres, Inc. | 10,436 | 11,308 | 34,559 | 32,081 |
Comprehensive income | 10,718 | 11,362 | 33,772 | 31,824 |
Less: Comprehensive loss attributable to noncontrolling interests | (239) | (9) | (372) | (141) |
Comprehensive income attributable to Caleres, Inc. | $ 10,957 | $ 11,371 | $ 34,144 | $ 31,965 |
Note 19 - Financial Informati_6
Note 19 - Financial Information for the Company and its Subsidiaries - Schedule of Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands | Oct. 18, 2018 | Jul. 06, 2018 | Nov. 02, 2019 | Nov. 03, 2018 |
Net cash provided by operating activities | $ 145,737 | $ 94,410 | ||
Purchases of property and equipment | (37,354) | (35,244) | ||
Disposals of property and equipment | 636 | 0 | ||
Capitalized software | (4,893) | (3,505) | ||
Intercompany investing | 0 | 0 | ||
Net cash used for investing activities | (41,611) | (400,975) | ||
Borrowings under revolving credit agreement | 237,000 | 360,000 | ||
Repayments under revolving credit agreement | (277,000) | (10,000) | ||
Dividends paid | (8,631) | (9,059) | ||
Acquisition of treasury stock | (31,168) | (3,288) | ||
Issuance of common stock under share-based plans, net | (2,605) | (4,318) | ||
Contributions by noncontrolling interests | 1,500 | 0 | ||
Other | (1,022) | (114) | ||
Intercompany financing | 0 | 0 | ||
Net cash used for financing activities | (81,926) | 333,221 | ||
Effect of exchange rate changes on cash and cash equivalents | 102 | (212) | ||
Increase in cash and cash equivalents | 22,302 | 26,444 | ||
Cash and cash equivalents at beginning of period | 30,200 | 64,047 | ||
Cash and cash equivalents at end of period | 52,502 | 90,491 | ||
Borrowings under revolving credit agreement | 237,000 | 360,000 | ||
Repayments under capital lease obligations | (114) | |||
Blowfish, LLC [Member] | ||||
Acquisition cost, net of cash received | $ (16,800) | 0 | (17,284) | |
Vionic [Member] | ||||
Acquisition cost, net of cash received | $ (352,700) | 0 | (344,942) | |
Consolidation, Eliminations [Member] | ||||
Net cash provided by operating activities | 0 | 0 | ||
Purchases of property and equipment | 0 | 0 | ||
Disposals of property and equipment | 0 | |||
Capitalized software | 0 | 0 | ||
Intercompany investing | 0 | 0 | ||
Net cash used for investing activities | 0 | 0 | ||
Borrowings under revolving credit agreement | 0 | 0 | ||
Repayments under revolving credit agreement | 0 | 0 | ||
Dividends paid | 0 | 0 | ||
Acquisition of treasury stock | 0 | 0 | ||
Issuance of common stock under share-based plans, net | 0 | 0 | ||
Other | 0 | |||
Intercompany financing | 0 | 0 | ||
Net cash used for financing activities | 0 | 0 | ||
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | ||
Increase in cash and cash equivalents | 0 | 0 | ||
Cash and cash equivalents at beginning of period | 0 | 0 | ||
Cash and cash equivalents at end of period | 0 | 0 | ||
Borrowings under revolving credit agreement | 0 | 0 | ||
Repayments under capital lease obligations | 0 | |||
Consolidation, Eliminations [Member] | Blowfish, LLC [Member] | ||||
Acquisition cost, net of cash received | 0 | |||
Consolidation, Eliminations [Member] | Vionic [Member] | ||||
Acquisition cost, net of cash received | 0 | |||
Parent Company [Member] | ||||
Net cash provided by operating activities | 15,776 | 2,739 | ||
Purchases of property and equipment | (20,965) | (14,094) | ||
Disposals of property and equipment | 636 | |||
Capitalized software | (4,696) | (3,077) | ||
Intercompany investing | (337) | 2 | ||
Net cash used for investing activities | (25,362) | (379,395) | ||
Borrowings under revolving credit agreement | 237,000 | 360,000 | ||
Repayments under revolving credit agreement | (277,000) | (10,000) | ||
Dividends paid | (8,631) | (9,059) | ||
Acquisition of treasury stock | (31,168) | (3,288) | ||
Issuance of common stock under share-based plans, net | (2,605) | (4,318) | ||
Other | (84) | |||
Intercompany financing | 94,559 | 21,244 | ||
Net cash used for financing activities | 12,071 | 354,579 | ||
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | ||
Increase in cash and cash equivalents | 2,485 | (22,077) | ||
Cash and cash equivalents at beginning of period | 2 | 26,089 | ||
Cash and cash equivalents at end of period | 2,487 | 4,012 | ||
Borrowings under revolving credit agreement | 237,000 | 360,000 | ||
Repayments under capital lease obligations | 0 | |||
Parent Company [Member] | Blowfish, LLC [Member] | ||||
Acquisition cost, net of cash received | (17,284) | |||
Parent Company [Member] | Vionic [Member] | ||||
Acquisition cost, net of cash received | (344,942) | |||
Guarantor Subsidiaries [Member] | ||||
Net cash provided by operating activities | 79,884 | 76,601 | ||
Purchases of property and equipment | (14,365) | (19,571) | ||
Disposals of property and equipment | 0 | |||
Capitalized software | (197) | (428) | ||
Intercompany investing | 337 | (2) | ||
Net cash used for investing activities | (14,225) | (20,001) | ||
Borrowings under revolving credit agreement | 0 | 0 | ||
Repayments under revolving credit agreement | 0 | 0 | ||
Dividends paid | 0 | 0 | ||
Acquisition of treasury stock | 0 | 0 | ||
Issuance of common stock under share-based plans, net | 0 | 0 | ||
Other | (938) | |||
Intercompany financing | (53,829) | (44,669) | ||
Net cash used for financing activities | (54,767) | (44,783) | ||
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | ||
Increase in cash and cash equivalents | 10,892 | 11,817 | ||
Cash and cash equivalents at beginning of period | 9,148 | 0 | ||
Cash and cash equivalents at end of period | 20,040 | 11,817 | ||
Borrowings under revolving credit agreement | 0 | 0 | ||
Repayments under capital lease obligations | (114) | |||
Guarantor Subsidiaries [Member] | Blowfish, LLC [Member] | ||||
Acquisition cost, net of cash received | 0 | |||
Guarantor Subsidiaries [Member] | Vionic [Member] | ||||
Acquisition cost, net of cash received | 0 | |||
Non-Guarantor Subsidiaries [Member] | ||||
Net cash provided by operating activities | 50,077 | 15,070 | ||
Purchases of property and equipment | (2,024) | (1,579) | ||
Disposals of property and equipment | 0 | |||
Capitalized software | 0 | 0 | ||
Intercompany investing | 0 | 0 | ||
Net cash used for investing activities | (2,024) | (1,579) | ||
Borrowings under revolving credit agreement | 0 | 0 | ||
Repayments under revolving credit agreement | 0 | 0 | ||
Dividends paid | 0 | 0 | ||
Acquisition of treasury stock | 0 | 0 | ||
Issuance of common stock under share-based plans, net | 0 | 0 | ||
Contributions by noncontrolling interests | 1,500 | |||
Other | 0 | |||
Intercompany financing | (40,730) | 23,425 | ||
Net cash used for financing activities | (39,230) | 23,425 | ||
Effect of exchange rate changes on cash and cash equivalents | 102 | (212) | ||
Increase in cash and cash equivalents | 8,925 | 36,704 | ||
Cash and cash equivalents at beginning of period | 21,050 | 37,958 | ||
Cash and cash equivalents at end of period | 29,975 | 74,662 | ||
Borrowings under revolving credit agreement | $ 0 | 0 | ||
Repayments under capital lease obligations | 0 | |||
Non-Guarantor Subsidiaries [Member] | Blowfish, LLC [Member] | ||||
Acquisition cost, net of cash received | 0 | |||
Non-Guarantor Subsidiaries [Member] | Vionic [Member] | ||||
Acquisition cost, net of cash received | $ 0 |