Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Oct. 28, 2017 | Dec. 01, 2017 | |
Document and Entity Information | ||
Entity Registrant Name | OXFORD INDUSTRIES INC | |
Entity Central Index Key | 75,288 | |
Current Fiscal Year End Date | --02-03 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Oct. 28, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 16,833,204 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands | Oct. 28, 2017 | Jan. 28, 2017 | Oct. 29, 2016 |
Current Assets | |||
Cash and cash equivalents | $ 6,077 | $ 6,332 | $ 5,351 |
Receivables, net | 73,724 | 58,279 | 68,492 |
Inventories, net | 127,301 | 142,175 | 136,383 |
Prepaid expenses | 27,619 | 24,842 | 29,558 |
Total Current Assets | 234,721 | 231,628 | 239,784 |
Property and equipment, net | 191,038 | 193,931 | 195,799 |
Intangible assets, net | 175,057 | 175,245 | 185,957 |
Goodwill | 63,443 | 60,015 | 51,053 |
Other non-current assets, net | 24,250 | 24,340 | 22,882 |
Total Assets | 688,509 | 685,159 | 695,475 |
Current Liabilities | |||
Accounts payable | 59,230 | 76,825 | 53,144 |
Accrued compensation | 24,434 | 19,711 | 18,181 |
Other accrued expenses and liabilities | 30,542 | 32,000 | 26,358 |
Liabilities related to discontinued operations | 3,709 | 2,860 | 0 |
Total Current Liabilities | 117,915 | 131,396 | 97,683 |
Long-term debt | 72,131 | 91,509 | 142,425 |
Other non-current liabilities | 73,487 | 70,002 | 69,176 |
Deferred taxes | 16,829 | 13,578 | 13,643 |
Liabilities related to discontinued operations | 972 | 2,544 | 3,279 |
Commitments and contingencies | |||
Shareholders’ Equity | |||
Common stock, $1.00 par value per share | 16,833 | 16,769 | 16,773 |
Additional paid-in capital | 134,561 | 131,144 | 129,762 |
Retained earnings | 260,809 | 233,493 | 228,016 |
Accumulated other comprehensive loss | (5,028) | (5,276) | (5,282) |
Total Shareholders’ Equity | 407,175 | 376,130 | 369,269 |
Total Liabilities and Shareholders’ Equity | $ 688,509 | $ 685,159 | $ 695,475 |
CONDENSED CONSOLIDATED BALANCE3
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares | Oct. 28, 2017 | Jan. 28, 2017 | Oct. 29, 2016 |
Statement of Financial Position [Abstract] | |||
Common stock, par value (in dollars per share) | $ 1 | $ 1 | $ 1 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 28, 2017 | Oct. 29, 2016 | Oct. 28, 2017 | Oct. 29, 2016 | |
Income Statement [Abstract] | ||||
Net sales | $ 235,960 | $ 222,308 | $ 793,032 | $ 761,539 |
Cost of goods sold | 110,784 | 104,254 | 342,477 | 327,225 |
Gross profit | 125,176 | 118,054 | 450,555 | 434,314 |
SG&A | 127,091 | 121,442 | 393,193 | 374,379 |
Royalties and other operating income | 3,039 | 3,061 | 10,123 | 10,433 |
Operating income (loss) | 1,124 | (327) | 67,485 | 70,368 |
Interest expense, net | 683 | 716 | 2,355 | 2,505 |
Earnings (loss) from continuing operations before income taxes | 441 | (1,043) | 65,130 | 67,863 |
Income taxes | (631) | 555 | 24,172 | 25,408 |
Net earnings (loss) from continuing operations | 1,072 | (1,598) | 40,958 | 42,455 |
Earnings from discontinued operations, net of taxes | 0 | 0 | 0 | 0 |
Net earnings (loss) | $ 1,072 | $ (1,598) | $ 40,958 | $ 42,455 |
Net earnings (loss) from continuing operations per share: | ||||
Basic (in dollars per share) | $ 0.06 | $ (0.10) | $ 2.47 | $ 2.57 |
Diluted (in dollars per share) | 0.06 | (0.10) | 2.45 | 2.55 |
Earnings from discontinued operations, net of taxes, per share: | ||||
Basic (in dollars per share) | 0 | 0 | 0 | 0 |
Diluted (in dollars per share) | 0 | 0 | 0 | 0 |
Net earnings (loss) per share: | ||||
Basic (in dollars per share) | 0.06 | (0.10) | 2.47 | 2.57 |
Diluted (in dollars per share) | $ 0.06 | $ (0.10) | $ 2.45 | $ 2.55 |
Weighted average shares outstanding: | ||||
Basic (in shares) | 16,618 | 16,531 | 16,591 | 16,516 |
Diluted (in shares) | 16,735 | 16,531 | 16,710 | 16,635 |
Dividends declared per share (in dollars per share) | $ 0.27 | $ 0.27 | $ 0.81 | $ 0.81 |
CONDENSED CONSOLIDATED STATEME5
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 28, 2017 | Oct. 29, 2016 | Oct. 28, 2017 | Oct. 29, 2016 | |
Statement of Comprehensive Income [Abstract] | ||||
Net earnings (loss) | $ 1,072 | $ (1,598) | $ 40,958 | $ 42,455 |
Other comprehensive income (loss), net of taxes: | ||||
Net foreign currency translation adjustment | (617) | (172) | 248 | 1,547 |
Total other comprehensive (loss) income, net of taxes | (617) | (172) | 248 | 1,547 |
Comprehensive income (loss) | $ 455 | $ (1,770) | $ 41,206 | $ 44,002 |
CONDENSED CONSOLIDATED STATEME6
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands | 9 Months Ended | |
Oct. 28, 2017 | Oct. 29, 2016 | |
Cash Flows From Operating Activities: | ||
Net earnings (loss) | $ 40,958 | $ 42,455 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
Depreciation | 29,779 | 29,070 |
Amortization of intangible assets | 1,733 | 1,744 |
Equity compensation expense | 4,616 | 5,332 |
Amortization of deferred financing costs | 317 | 586 |
Deferred income taxes | 3,376 | 6,008 |
Changes in working capital, net of acquisitions and dispositions: | ||
Receivables, net | (17,227) | (2,204) |
Inventories, net | 17,017 | 10,118 |
Prepaid expenses | (2,713) | (6,510) |
Current liabilities | (14,217) | (33,229) |
Other non-current assets, net | (241) | (717) |
Other non-current liabilities | 1,880 | 654 |
Cash provided by operating activities | 65,278 | 53,307 |
Cash Flows From Investing Activities: | ||
Acquisitions, net of cash acquired | (5,055) | (94,960) |
Purchases of property and equipment | (26,357) | (40,144) |
Other investing activities | 0 | (2,029) |
Cash used in investing activities | (31,412) | (137,133) |
Cash Flows From Financing Activities: | ||
Repayment of revolving credit arrangements | (199,765) | (339,560) |
Proceeds from revolving credit arrangements | 180,387 | 438,010 |
Deferred financing costs paid | 0 | (1,430) |
Proceeds from issuance of common stock | 1,071 | 993 |
Repurchase of equity awards for employee tax withholding liabilities | (2,206) | (1,868) |
Cash dividends declared and paid | (13,641) | (13,590) |
Cash (used in) provided by financing activities | (34,154) | 82,555 |
Net change in cash and cash equivalents | (288) | (1,271) |
Effect of foreign currency translation on cash and cash equivalents | 33 | 299 |
Cash and cash equivalents at the beginning of year | 6,332 | 6,323 |
Cash and cash equivalents at the end of the period | 6,077 | 5,351 |
Supplemental disclosure of cash flow information: | ||
Cash paid for interest, net | 2,098 | 2,067 |
Cash paid for income taxes | $ 19,536 | $ 26,103 |
Basis of Presentation_
Basis of Presentation: | 9 Months Ended |
Oct. 28, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation: | Basis of Presentation: The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with GAAP for interim financial reporting and the instructions of Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. We believe the accompanying unaudited condensed consolidated financial statements reflect all normal, recurring adjustments that are necessary for a fair presentation of our financial position and results of operations as of the dates and for the periods presented. Results of operations for the interim periods presented are not necessarily indicative of results to be expected for our full fiscal year. The significant accounting policies applied during the interim periods presented are consistent with the significant accounting policies described in our Annual Report on Form 10-K for Fiscal 2016 . In order to conform to current period classification, certain gift with purchase amounts, totaling $0.2 million and $1.8 million previously reported as SG&A, have been reclassified to cost of goods sold for the Third Quarter of Fiscal 2016 and the First Nine Months of Fiscal 2016 , respectively. This reclassification resulted in a decrease in SG&A and a corresponding increase in cost of goods sold in the Third Quarter of Fiscal 2016 and the First Nine Months of Fiscal 2016 , with no impact on previously reported net earnings (loss). In January 2017, the FASB issued new guidance that provides a more narrow framework for evaluating whether a set of assets and activities constitute a business. We early adopted this guidance in the Second Quarter of Fiscal 2017. The adoption of this guidance did not have a material impact upon adoption. The impact of the guidance in the future will depend on the facts and circumstances of any specific future transactions. Recently Issued Accounting Standards Applicable to Future Periods In May 2014, the FASB issued guidance which provides a single, comprehensive accounting model for revenue arising from contracts with customers. This guidance has been revised and clarified through supplemental adoption guidance subsequent to May 2014. This new revenue recognition guidance supersedes most of the existing revenue recognition guidance which specifies that revenue is recognized when risks and rewards transfer to a customer. Under the new guidance, revenue will be recognized pursuant to a five-step approach: (1) identify the contracts with the customer; (2) identify the separate performance obligations in the contracts; (3) determine the transaction price; (4) allocate the transaction price to separate performance obligations; and (5) recognize revenue when, or as, each performance obligation is satisfied. The new guidance also requires additional disclosures about the nature, timing and uncertainty of revenue and cash flow arising from customer contracts, including significant judgments and changes in judgments. We have reviewed our revenue streams, including retail, e-commerce, restaurant, wholesale, gift card breakage and royalty income, to evaluate the potential impact of the adoption of the revised guidance on our consolidated financial statements. While we continue to assess all of the potential impacts of the new guidance, we do not expect the implementation of the guidance will have a material effect on our consolidated results of operations, cash flows or financial position. We currently anticipate utilizing the modified retrospective method of adoption allowed by the guidance and plan to adopt the standard as of the first day of Fiscal 2018. In February 2016, the FASB issued a new accounting standard on leasing. The new standard will require companies to record most leases as assets and liabilities on the balance sheet. For these leases, we will be required to recognize a right to use asset and lease liability for the obligations created by the leases. This guidance will be effective in Fiscal 2019 with early adoption permitted. The guidance requires the use of the modified retrospective transition approach. We are currently in the process of evaluating the impact of the new guidance on our consolidated financial statements. Considering the magnitude of our existing operating leases, we anticipate that the new lease guidance will have a significant impact on our consolidated balance sheet by requiring the recognition of a significant amount of lease-related assets and liabilities. In June 2016, the FASB issued revised guidance on the measurement of credit losses on financial instruments. This guidance amends the impairment model by requiring companies to use a forward-looking approach based on expected losses to estimate credit losses on certain financial instruments, including trade receivables. This guidance will be effective in Fiscal 2020 with early adoption permitted. We are currently assessing the impact that adopting this guidance will have on our consolidated financial statements. In October 2016, the FASB issued revised guidance on the recognition of current and deferred income taxes for intra-entity asset transfers. The revised guidance requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset (other than inventory) when the transfer occurs. This guidance will be effective in Fiscal 2018 with early adoption permitted. The guidance requires the use of the modified retrospective method of adoption which results in a cumulative adjustment to retained earnings as of the beginning of the period of adoption. We are currently in the process of assessing the impact that adopting this guidance will have on our consolidated financial statements. In January 2017, the FASB issued revised guidance on the subsequent measurement of goodwill which eliminates the second step from the quantitative goodwill impairment test. The revised guidance requires companies to compare the fair value of a reporting unit with its carrying amount and record an impairment charge for the amount that the carrying amount exceeds the fair value, up to the total amount of goodwill allocated to that reporting unit. This guidance will be effective in 2020 with early adoption permitted for goodwill impairment testing dates after January 1, 2017. We are currently assessing the impact that adopting this guidance will have on our consolidated financial statements. |
Operating Group Information_
Operating Group Information: | 9 Months Ended |
Oct. 28, 2017 | |
Segment Reporting [Abstract] | |
Operating Group Information: | Operating Group Information: Our business is primarily operated through our Tommy Bahama, Lilly Pulitzer, Lanier Apparel and Southern Tide operating groups. We acquired Southern Tide on April 19, 2016 during the First Quarter of Fiscal 2016. We identify our operating groups based on the way our management organizes the components of our business for purposes of allocating resources and assessing performance. Our operating group structure reflects a brand-focused management approach, emphasizing operational coordination and resource allocation across each brand's direct to consumer, wholesale and licensing operations, as applicable. Tommy Bahama, Lilly Pulitzer and Southern Tide each design, source, market and distribute apparel and related products bearing their respective trademarks and also license their trademarks for other product categories, while Lanier Apparel designs, sources and distributes branded and private label products. Corporate and Other is a reconciling category for reporting purposes and includes our corporate offices, substantially all financing activities, elimination of inter-segment sales, LIFO accounting adjustments for inventory, other costs that are not allocated to the operating groups and operations of our other businesses which are not included in our operating groups, including our Lyons, Georgia distribution center operations. For a more extensive description of our Tommy Bahama, Lilly Pulitzer, Lanier Apparel and Southern Tide operating groups, see Part I, Item 1. Business included in our Annual Report on Form 10-K for Fiscal 2016. The table below presents certain financial information (in thousands) about our operating groups, as well as Corporate and Other. Third Quarter Fiscal 2017 Third Quarter Fiscal 2016 First Nine Months Fiscal 2017 First Nine Months Fiscal 2016 Net sales Tommy Bahama $ 123,895 $ 125,966 $ 483,971 $ 472,796 Lilly Pulitzer 59,244 52,319 192,045 186,777 Lanier Apparel 43,110 35,065 84,314 81,217 Southern Tide 9,217 8,687 31,254 19,267 Corporate and Other 494 271 1,448 1,482 Total net sales $ 235,960 $ 222,308 $ 793,032 $ 761,539 Depreciation and amortization Tommy Bahama $ 8,033 $ 7,756 $ 23,321 $ 23,331 Lilly Pulitzer 2,303 1,956 6,377 5,551 Lanier Apparel 145 123 443 335 Southern Tide 108 191 317 457 Corporate and Other 355 389 1,054 1,140 Total depreciation and amortization $ 10,944 $ 10,415 $ 31,512 $ 30,814 Operating income (loss) Tommy Bahama $ (5,872 ) $ (7,133 ) $ 32,082 $ 26,761 Lilly Pulitzer 4,952 6,212 43,621 49,646 Lanier Apparel 5,615 3,666 6,668 6,609 Southern Tide 1,016 (472 ) 3,765 (425 ) Corporate and Other (4,587 ) (2,600 ) (18,651 ) (12,223 ) Total operating income (loss) $ 1,124 $ (327 ) $ 67,485 $ 70,368 Interest expense, net 683 716 2,355 2,505 Earnings (loss) from continuing operations before income taxes $ 441 $ (1,043 ) $ 65,130 $ 67,863 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss: | 9 Months Ended |
Oct. 28, 2017 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Loss: | Accumulated Other Comprehensive Loss: Substantially all amounts included in accumulated other comprehensive (loss) income, as well as the change in the balance, for each period presented, reflect the net foreign currency translation adjustment related to our Tommy Bahama operations in Canada, Japan and Australia. No amounts of accumulated other comprehensive loss were reclassified from accumulated other comprehensive loss into our consolidated statements of operations during any period presented. The following table details the changes in our accumulated other comprehensive loss (in thousands), net of related income taxes, for the periods specified: Third Quarter Fiscal 2017 Third Quarter Fiscal 2016 First Nine Months Fiscal 2017 First Nine Months Fiscal 2016 Beginning balance $ (4,411 ) $ (5,110 ) $ (5,276 ) $ (6,829 ) Net foreign currency translation adjustment (617 ) (172 ) 248 1,547 Ending balance $ (5,028 ) $ (5,282 ) $ (5,028 ) $ (5,282 ) |
Income Taxes_
Income Taxes: | 9 Months Ended |
Oct. 28, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes: | Income Taxes: Income taxes reflects effective tax rates of (143.1)% , (53.2)% , 37.1% and 37.4% for the Third Quarter of Fiscal 2017 , the Third Quarter of Fiscal 2016 , the First Nine Months of Fiscal 2017 and First Nine Months of Fiscal 2016 , respectively. The net impact of discrete or other items often results in a more significant or unusual impact on the effective tax rate in the third quarter given the significantly lower operating results during the third quarter as compared to the other quarters of the fiscal year. Thus, the effective tax rate for the third quarter is not indicative of the effective tax rate anticipated for the full year. The First Nine Months of Fiscal 2017 includes (1) the favorable impact of earnings in certain of our foreign jurisdictions, including foreign sourcing operations, which have lower tax rates than our domestic earnings, and (2) $0.8 million of favorable discrete items in the Third Quarter of Fiscal 2017 primarily related to certain prior year tax items, which were offset by the $0.8 million unfavorable impact of certain stock awards that vested during the First Quarter of Fiscal 2017. The First Nine Months of Fiscal 2016 includes the favorable impact of (1) earnings in certain foreign jurisdictions and (2) the utilization of certain foreign operating loss carryforward amounts. |
Business Combinations_
Business Combinations: | 9 Months Ended |
Oct. 28, 2017 | |
Business Combinations [Abstract] | |
Business Combinations: | Business Combinations: During July and August 2017, we completed transactions resulting in the acquisition of 12 Lilly Pulitzer Signature Stores and during the First Nine Months of Fiscal 2017 we also completed the final working capital settlements related to certain Fiscal 2016 acquisitions. These items resulted in the payment of $5.1 million of cash consideration during the First Nine Months of Fiscal 2017 . Our allocations of the purchase price for Fiscal 2017 acquisitions are preliminary. The allocations may be revised during the one year allocation period as we obtain new information about the fair values of the acquired assets and finalize working capital amounts related to the acquisitions. |
Basis of Presentation_ (Policie
Basis of Presentation: (Policies) | 9 Months Ended |
Oct. 28, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Recently Issued Accounting Standards Applicable to Future Periods | Recently Issued Accounting Standards Applicable to Future Periods In May 2014, the FASB issued guidance which provides a single, comprehensive accounting model for revenue arising from contracts with customers. This guidance has been revised and clarified through supplemental adoption guidance subsequent to May 2014. This new revenue recognition guidance supersedes most of the existing revenue recognition guidance which specifies that revenue is recognized when risks and rewards transfer to a customer. Under the new guidance, revenue will be recognized pursuant to a five-step approach: (1) identify the contracts with the customer; (2) identify the separate performance obligations in the contracts; (3) determine the transaction price; (4) allocate the transaction price to separate performance obligations; and (5) recognize revenue when, or as, each performance obligation is satisfied. The new guidance also requires additional disclosures about the nature, timing and uncertainty of revenue and cash flow arising from customer contracts, including significant judgments and changes in judgments. We have reviewed our revenue streams, including retail, e-commerce, restaurant, wholesale, gift card breakage and royalty income, to evaluate the potential impact of the adoption of the revised guidance on our consolidated financial statements. While we continue to assess all of the potential impacts of the new guidance, we do not expect the implementation of the guidance will have a material effect on our consolidated results of operations, cash flows or financial position. We currently anticipate utilizing the modified retrospective method of adoption allowed by the guidance and plan to adopt the standard as of the first day of Fiscal 2018. In February 2016, the FASB issued a new accounting standard on leasing. The new standard will require companies to record most leases as assets and liabilities on the balance sheet. For these leases, we will be required to recognize a right to use asset and lease liability for the obligations created by the leases. This guidance will be effective in Fiscal 2019 with early adoption permitted. The guidance requires the use of the modified retrospective transition approach. We are currently in the process of evaluating the impact of the new guidance on our consolidated financial statements. Considering the magnitude of our existing operating leases, we anticipate that the new lease guidance will have a significant impact on our consolidated balance sheet by requiring the recognition of a significant amount of lease-related assets and liabilities. In June 2016, the FASB issued revised guidance on the measurement of credit losses on financial instruments. This guidance amends the impairment model by requiring companies to use a forward-looking approach based on expected losses to estimate credit losses on certain financial instruments, including trade receivables. This guidance will be effective in Fiscal 2020 with early adoption permitted. We are currently assessing the impact that adopting this guidance will have on our consolidated financial statements. In October 2016, the FASB issued revised guidance on the recognition of current and deferred income taxes for intra-entity asset transfers. The revised guidance requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset (other than inventory) when the transfer occurs. This guidance will be effective in Fiscal 2018 with early adoption permitted. The guidance requires the use of the modified retrospective method of adoption which results in a cumulative adjustment to retained earnings as of the beginning of the period of adoption. We are currently in the process of assessing the impact that adopting this guidance will have on our consolidated financial statements. In January 2017, the FASB issued revised guidance on the subsequent measurement of goodwill which eliminates the second step from the quantitative goodwill impairment test. The revised guidance requires companies to compare the fair value of a reporting unit with its carrying amount and record an impairment charge for the amount that the carrying amount exceeds the fair value, up to the total amount of goodwill allocated to that reporting unit. This guidance will be effective in 2020 with early adoption permitted for goodwill impairment testing dates after January 1, 2017. We are currently assessing the impact that adopting this guidance will have on our consolidated financial statements. |
Operating Group Information_ (T
Operating Group Information: (Tables) | 9 Months Ended |
Oct. 28, 2017 | |
Segment Reporting [Abstract] | |
Schedule of information pertaining to the operating groups | The table below presents certain financial information (in thousands) about our operating groups, as well as Corporate and Other. Third Quarter Fiscal 2017 Third Quarter Fiscal 2016 First Nine Months Fiscal 2017 First Nine Months Fiscal 2016 Net sales Tommy Bahama $ 123,895 $ 125,966 $ 483,971 $ 472,796 Lilly Pulitzer 59,244 52,319 192,045 186,777 Lanier Apparel 43,110 35,065 84,314 81,217 Southern Tide 9,217 8,687 31,254 19,267 Corporate and Other 494 271 1,448 1,482 Total net sales $ 235,960 $ 222,308 $ 793,032 $ 761,539 Depreciation and amortization Tommy Bahama $ 8,033 $ 7,756 $ 23,321 $ 23,331 Lilly Pulitzer 2,303 1,956 6,377 5,551 Lanier Apparel 145 123 443 335 Southern Tide 108 191 317 457 Corporate and Other 355 389 1,054 1,140 Total depreciation and amortization $ 10,944 $ 10,415 $ 31,512 $ 30,814 Operating income (loss) Tommy Bahama $ (5,872 ) $ (7,133 ) $ 32,082 $ 26,761 Lilly Pulitzer 4,952 6,212 43,621 49,646 Lanier Apparel 5,615 3,666 6,668 6,609 Southern Tide 1,016 (472 ) 3,765 (425 ) Corporate and Other (4,587 ) (2,600 ) (18,651 ) (12,223 ) Total operating income (loss) $ 1,124 $ (327 ) $ 67,485 $ 70,368 Interest expense, net 683 716 2,355 2,505 Earnings (loss) from continuing operations before income taxes $ 441 $ (1,043 ) $ 65,130 $ 67,863 |
Accumulated Other Comprehensi14
Accumulated Other Comprehensive Loss: (Tables) | 9 Months Ended |
Oct. 28, 2017 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule of changes in the entity's accumulated other comprehensive loss by component, net of related income taxes | The following table details the changes in our accumulated other comprehensive loss (in thousands), net of related income taxes, for the periods specified: Third Quarter Fiscal 2017 Third Quarter Fiscal 2016 First Nine Months Fiscal 2017 First Nine Months Fiscal 2016 Beginning balance $ (4,411 ) $ (5,110 ) $ (5,276 ) $ (6,829 ) Net foreign currency translation adjustment (617 ) (172 ) 248 1,547 Ending balance $ (5,028 ) $ (5,282 ) $ (5,028 ) $ (5,282 ) |
Basis of Presentation_ (Details
Basis of Presentation: (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended |
Oct. 29, 2016 | Oct. 29, 2016 | |
Selling, General and Administrative Expenses | ||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||
Prior period reclassification adjustment | $ 0.2 | $ 1.8 |
Cost of Goods Sold | ||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||
Prior period reclassification adjustment | $ (0.2) | $ (1.8) |
Operating Group Information_ (D
Operating Group Information: (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 28, 2017 | Oct. 29, 2016 | Oct. 28, 2017 | Oct. 29, 2016 | |
Operating group information | ||||
Net sales | $ 235,960 | $ 222,308 | $ 793,032 | $ 761,539 |
Depreciation and amortization | 10,944 | 10,415 | 31,512 | 30,814 |
Operating income (loss) | 1,124 | (327) | 67,485 | 70,368 |
Earnings (loss) from continuing operations before income taxes | 441 | (1,043) | 65,130 | 67,863 |
Corporate and Other | ||||
Operating group information | ||||
Net sales | 494 | 271 | 1,448 | 1,482 |
Depreciation and amortization | 355 | 389 | 1,054 | 1,140 |
Operating income (loss) | (4,587) | (2,600) | (18,651) | (12,223) |
Tommy Bahama | Operating Groups | ||||
Operating group information | ||||
Net sales | 123,895 | 125,966 | 483,971 | 472,796 |
Depreciation and amortization | 8,033 | 7,756 | 23,321 | 23,331 |
Operating income (loss) | (5,872) | (7,133) | 32,082 | 26,761 |
Lilly Pulitzer | Operating Groups | ||||
Operating group information | ||||
Net sales | 59,244 | 52,319 | 192,045 | 186,777 |
Depreciation and amortization | 2,303 | 1,956 | 6,377 | 5,551 |
Operating income (loss) | 4,952 | 6,212 | 43,621 | 49,646 |
Lanier Apparel | Operating Groups | ||||
Operating group information | ||||
Net sales | 43,110 | 35,065 | 84,314 | 81,217 |
Depreciation and amortization | 145 | 123 | 443 | 335 |
Operating income (loss) | 5,615 | 3,666 | 6,668 | 6,609 |
Southern Tide | Operating Groups | ||||
Operating group information | ||||
Net sales | 9,217 | 8,687 | 31,254 | 19,267 |
Depreciation and amortization | 108 | 191 | 317 | 457 |
Operating income (loss) | $ 1,016 | $ (472) | $ 3,765 | $ (425) |
Accumulated Other Comprehensi17
Accumulated Other Comprehensive Loss: (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 28, 2017 | Oct. 29, 2016 | Oct. 28, 2017 | Oct. 29, 2016 | |
Changes in the entity's accumulated other comprehensive loss by component, net of related income taxes | ||||
Beginning balance | $ (4,411) | $ (5,110) | $ (5,276) | $ (6,829) |
Net foreign currency translation adjustment | (617) | (172) | 248 | 1,547 |
Ending balance | $ (5,028) | $ (5,282) | $ (5,028) | $ (5,282) |
Income Taxes_ (Details)
Income Taxes: (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Oct. 28, 2017 | Apr. 29, 2017 | Oct. 29, 2016 | Oct. 28, 2017 | Oct. 29, 2016 | |
Income Tax Disclosure [Abstract] | |||||
Effective income tax rate, percent | (143.10%) | (53.20%) | 37.10% | 37.40% | |
Favorable discrete items related to prior year tax items | $ 0.8 | ||||
Unfavorable stock awards impact | $ 0.8 |
Business Combinations_ (Narrati
Business Combinations: (Narrative) (Details) - Lilly Pulitzer $ in Millions | 2 Months Ended | 9 Months Ended |
Aug. 31, 2017store | Oct. 28, 2017USD ($) | |
Business Acquisition [Line Items] | ||
Number of stores acquired | store | 12 | |
Payments to acquire business | $ | $ 5.1 |