Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Aug. 03, 2019 | Aug. 23, 2019 | |
Class of Stock [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Aug. 3, 2019 | |
Document Transition Report | false | |
Entity File Number | 1-32545 | |
Entity Registrant Name | DESIGNER BRANDS INC. | |
Entity Incorporation, State or Country Code | OH | |
Entity Tax Identification Number | 31-0746639 | |
Entity Address, Address Line One | 810 DSW Drive, | |
Entity Address, City or Town | Columbus, | |
Entity Address, State or Province | OH | |
Entity Address, Postal Zip Code | 43219 | |
City Area Code | 614 | |
Local Phone Number | 237-7100 | |
Title of 12(b) Security | Class A Common Shares, without par value | |
Trading Symbol | DBI | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Shell Company | false | |
Entity Central Index Key | 0001319947 | |
Current Fiscal Year End Date | --02-01 | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Class A common shares | ||
Class of Stock [Line Items] | ||
Entity Common Stock, Shares Outstanding | 64,911,631 | |
Class B common shares | ||
Class of Stock [Line Items] | ||
Entity Common Stock, Shares Outstanding | 7,732,786 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Aug. 03, 2019 | Aug. 04, 2018 | Aug. 03, 2019 | Aug. 04, 2018 | |
Net sales | $ 860,198 | $ 795,268 | $ 1,738,713 | $ 1,507,370 |
Operating expenses | (226,616) | (195,319) | (449,422) | (363,739) |
Income (loss) from equity investments | 4,692 | (1,310) | ||
Impairment charges | 0 | (36,240) | 0 | (36,240) |
Operating profit | 41,267 | 24,469 | 85,248 | 62,939 |
Interest income (expense), net | (1,972) | 805 | (3,773) | 1,469 |
Non-operating income (expenses), net | 199 | (47,349) | (143) | (49,486) |
Income (loss) before income taxes and loss from equity investment in TSL | 39,494 | (22,075) | 81,332 | 14,922 |
Income tax provision | (12,087) | (16,281) | (22,731) | (27,671) |
Net income (loss) | $ 27,407 | $ (38,356) | $ 58,601 | $ (14,059) |
Basic and diluted earnings (loss) per share: | ||||
Basic earnings per share (USD per share) | $ 0.37 | $ (0.48) | $ 0.78 | $ (0.18) |
Diluted earnings per share (USD per share) | $ 0.37 | $ (0.48) | $ 0.77 | $ (0.18) |
Weighted average shares used in per share calculations: | ||||
Basic shares (in shares) | 73,529 | 80,265 | 75,267 | 80,187 |
Diluted shares (in shares) | 74,316 | 80,265 | 76,281 | 80,187 |
Product | ||||
Net sales | $ 849,640 | $ 793,735 | $ 1,719,632 | $ 1,504,172 |
Cost of sales | (594,779) | (539,240) | (1,208,735) | (1,044,452) |
Commission, franchise and other revenue | ||||
Net sales | 10,558 | 1,533 | 19,081 | 3,198 |
ABG-Camuto, LLC | ||||
Income (loss) from equity investments | 2,464 | 0 | 4,692 | 0 |
TSL | ||||
Income (loss) from equity investments | $ 0 | $ 0 | $ 0 | $ (1,310) |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Aug. 03, 2019 | Aug. 04, 2018 | Aug. 03, 2019 | Aug. 04, 2018 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income (loss) | $ 27,407 | $ (38,356) | $ 58,601 | $ (14,059) |
Other comprehensive income (loss), net of income taxes: | ||||
Foreign currency translation gain (loss) | 461 | (1,365) | (253) | (6,050) |
Unrealized net gain (loss) on debt securities | 196 | 27 | 438 | (317) |
Reclassification adjustment for net losses (gains) realized in net income (loss) | 23 | 12,260 | (65) | 14,165 |
Total other comprehensive income, net of income taxes | 680 | 10,922 | 120 | 7,798 |
Total comprehensive income (loss) | $ 28,087 | $ (27,434) | $ 58,721 | $ (6,261) |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Aug. 03, 2019 | Feb. 02, 2019 | Aug. 04, 2018 |
ASSETS | |||
Cash and cash equivalents | $ 51,762 | $ 99,369 | $ 215,996 |
Investments | 25,504 | 69,718 | 73,119 |
Accounts receivable, net | 85,162 | 68,870 | 17,259 |
Inventories | 706,168 | 645,317 | 596,956 |
Prepaid expenses and other current assets | 55,561 | 71,945 | 73,763 |
Total current assets | 924,157 | 955,219 | 977,093 |
Property and equipment, net | 402,779 | 409,576 | 387,621 |
Operating lease assets | 975,963 | 0 | 0 |
Goodwill | 116,280 | 89,513 | 25,899 |
Intangible assets | 21,112 | 46,129 | 20,285 |
Deferred tax assets | 29,515 | 30,283 | 14,235 |
Equity investment in ABG-Camuto | 55,033 | 58,125 | 0 |
Other assets | 32,407 | 31,739 | 19,883 |
Total assets | 2,557,246 | 1,620,584 | 1,445,016 |
LIABILITIES AND SHAREHOLDERS' EQUITY | |||
Accounts payable | 289,457 | 261,625 | 229,440 |
Accrued expenses | 173,437 | 201,535 | 145,776 |
Less current operating lease liabilities | 185,969 | 0 | 0 |
Total current liabilities | 648,863 | 463,160 | 375,216 |
Long-term Debt | 235,000 | 160,000 | 0 |
Non-current operating lease liabilities | 905,546 | 0 | 0 |
Other non-current liabilities | 38,590 | 165,047 | 150,316 |
Total liabilities | 1,827,999 | 788,207 | 525,532 |
Commitments and contingencies | |||
Shareholders' equity: | |||
Common shares paid-in capital, no par value | 988,305 | 978,794 | 971,653 |
Treasury shares, at cost | (498,436) | (373,436) | (325,906) |
Retained earnings | 266,957 | 254,718 | 301,006 |
Basis difference related to acquisition of commonly controlled entity | (24,993) | (24,993) | (24,993) |
Accumulated other comprehensive loss | (2,586) | (2,706) | (2,276) |
Total shareholders' equity | 729,247 | 832,377 | 919,484 |
Total liabilities and shareholders' equity | $ 2,557,246 | $ 1,620,584 | $ 1,445,016 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Shareholders' Equity Statement - USD ($) shares in Thousands, $ in Thousands | Total | Class A common shares | Class B common shares | Treasury shares | Common shares paid in capital | Retained earnings | Treasury shares | Basis difference related to acquisition of commonly controlled entity | Accumulated other comprehensive loss |
Balance (in shares) at Feb. 03, 2018 | 72,294 | 7,733 | 13,091 | ||||||
Balance at Feb. 03, 2018 | $ 955,251 | $ 961,245 | $ 354,979 | $ (325,906) | $ (24,993) | $ (10,074) | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net income (loss) | $ (14,059) | (14,059) | |||||||
Stock-based compensation activity (in shares) | 267 | ||||||||
Stock-based compensation activity | $ 10,408 | 10,408 | |||||||
Dividends | (39,914) | (39,914) | |||||||
Other comprehensive income | 7,798 | 7,798 | |||||||
Balance (in shares) at Aug. 04, 2018 | 72,561 | 7,733 | 13,091 | ||||||
Balance at Aug. 04, 2018 | 919,484 | 971,653 | 301,006 | (325,906) | (24,993) | (2,276) | |||
Balance (in shares) at May. 05, 2018 | 72,470 | 7,733 | 13,091 | ||||||
Balance at May. 05, 2018 | 960,868 | 965,623 | 359,342 | (325,906) | (24,993) | (13,198) | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net income (loss) | $ (38,356) | (38,356) | |||||||
Stock-based compensation activity (in shares) | 91 | ||||||||
Stock-based compensation activity | $ 6,030 | 6,030 | |||||||
Dividends | (19,980) | (19,980) | |||||||
Other comprehensive income | 10,922 | 10,922 | |||||||
Balance (in shares) at Aug. 04, 2018 | 72,561 | 7,733 | 13,091 | ||||||
Balance at Aug. 04, 2018 | 919,484 | 971,653 | 301,006 | (325,906) | (24,993) | (2,276) | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Cumulative effect of accounting change | (9,556) | (9,556) | |||||||
Balance (in shares) at Feb. 02, 2019 | 70,672 | 7,733 | 15,091 | ||||||
Balance at Feb. 02, 2019 | 832,377 | 978,794 | 254,718 | (373,436) | (24,993) | (2,706) | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net income (loss) | $ 58,601 | 58,601 | |||||||
Stock-based compensation activity (in shares) | 317 | ||||||||
Stock-based compensation activity | $ 9,511 | 9,511 | |||||||
Repurchase of Class A common shares (in shares) | (6,100) | (6,078) | |||||||
Repurchase of Class A common shares (in shares) | 6,078 | ||||||||
Repurchase of Class A common shares | $ (125,000) | (125,000) | |||||||
Dividends | (36,806) | (36,806) | |||||||
Other comprehensive income | 120 | 120 | |||||||
Balance (in shares) at Aug. 03, 2019 | 64,911 | 7,733 | 21,169 | ||||||
Balance at Aug. 03, 2019 | 729,247 | 988,305 | 266,957 | (498,436) | (24,993) | (2,586) | |||
Balance (in shares) at May. 04, 2019 | 67,434 | 7,733 | 18,501 | ||||||
Balance at May. 04, 2019 | 762,851 | 982,093 | 257,453 | (448,436) | (24,993) | (3,266) | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net income (loss) | $ 27,407 | 27,407 | |||||||
Stock-based compensation activity (in shares) | 145 | ||||||||
Stock-based compensation activity | $ 6,212 | 6,212 | |||||||
Repurchase of Class A common shares (in shares) | (2,668) | ||||||||
Repurchase of Class A common shares (in shares) | 2,668 | ||||||||
Repurchase of Class A common shares | (50,000) | (50,000) | |||||||
Dividends | (17,903) | (17,903) | |||||||
Other comprehensive income | 680 | 680 | |||||||
Balance (in shares) at Aug. 03, 2019 | 64,911 | 7,733 | 21,169 | ||||||
Balance at Aug. 03, 2019 | $ 729,247 | $ 988,305 | $ 266,957 | $ (498,436) | $ (24,993) | $ (2,586) |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Aug. 03, 2019 | Aug. 04, 2018 | Aug. 03, 2019 | Aug. 04, 2018 | |
Statement of Stockholders' Equity [Abstract] | ||||
Dividends (USD per share) | $ 0.25 | $ 0.25 | $ 0.50 | $ 0.50 |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Aug. 03, 2019 | Aug. 04, 2018 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 58,601 | $ (14,059) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Depreciation and amortization | 42,485 | 38,429 |
Stock-based compensation expense | 9,731 | 9,698 |
Deferred income taxes | 1,043 | 13,526 |
Loss (income) from equity investments | (4,692) | 1,310 |
Loss on previously held equity investment in TSL and notes receivable from TSL | 0 | 33,988 |
Impairment charges | 0 | 36,240 |
Lease exit non-cash charges | 0 | 3,910 |
Loss on foreign currency reclassified from accumulated other comprehensive loss | 0 | 13,963 |
Other | 538 | 8,106 |
Change in operating assets and liabilities, net of acquired amounts: | ||
Accounts receivable | (14,800) | 3,767 |
Inventories | (61,748) | (37,308) |
Prepaid expenses and other current assets | (2,972) | (23,257) |
Accounts payable | 30,683 | 26,219 |
Accrued expenses | (24,677) | (7,960) |
Net cash provided by operating activities | 34,192 | 106,572 |
Cash flows from investing activities: | ||
Cash paid for property and equipment | (40,259) | (32,103) |
Purchases of available-for-sale investments | (3,014) | (16,735) |
Sales of available-for-sale investments | 47,764 | 67,280 |
Additional borrowings by TSL | 0 | (15,989) |
Business acquisitions, net of cash acquired | 0 | (28,152) |
Net cash provided by (used in) investing activities | 4,491 | (25,699) |
Cash flows from financing activities: | ||
Borrowing on revolving line of credit | 320,700 | 0 |
Payments on revolving line of credit | (245,700) | 0 |
Cash paid for treasury shares | (125,000) | 0 |
Dividends paid | (36,806) | (39,910) |
Other | (397) | (1,199) |
Net cash used in financing activities | (87,203) | (41,109) |
Effect of exchange rate changes on cash balances | (286) | 300 |
Net increase (decrease) in cash, cash equivalents, and restricted cash | (48,806) | 40,064 |
Cash, cash equivalents, and restricted cash, beginning of period | 100,568 | 175,932 |
Cash and cash equivalents, end of period | 51,762 | 215,996 |
Supplemental disclosures of cash flow information: | ||
Cash paid for income taxes | 21,796 | 28,135 |
Cash paid for interest on debt | 4,052 | 0 |
Cash paid for operating lease liabilities | 118,563 | 0 |
Non-cash investing and financing activities: | ||
Property and equipment purchases not yet paid | 8,648 | 8,390 |
Operating lease liabilities arising from lease asset additions (excluding ASU 2016-02 transition adjustments) | 9,184 | 0 |
Adjustment to operating lease assets and lease liabilities for modifications | $ 48,029 | $ 0 |
Significant Accounting Policies
Significant Accounting Policies | 6 Months Ended |
Aug. 03, 2019 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | SIGNIFICANT ACCOUNTING POLICIES Business Operations- Designer Brands Inc. is a leading North American footwear and accessories designer, producer and retailer. On May 10, 2018 , we acquired the remaining interest in Town Shoes Limited ("TSL") that we did not previously own. Beginning with our second quarter of fiscal 2018, TSL ceased being accounted for under the equity method of accounting and was accounted for as a consolidated wholly-owned subsidiary. As a result of this acquisition, we operate a Canadian business that is a retailer of branded footwear under The Shoe Company, Shoe Warehouse, and DSW Designer Shoe Warehouse banners, as well as related e-commerce sites. Subsequent to the acquisition, and as a result of our strategic review, we exited the Town Shoes banner in Canada during fiscal 2018. On November 5, 2018 , we completed the acquisition of Camuto LLC, doing business as Camuto Group ("Camuto Group"), a footwear design and brand development organization, from Camuto Group LLC (the "Sellers"). The Camuto Group acquisition provides us a global production, sourcing and design infrastructure, including operations in Brazil and China, a new state-of-the-art distribution center in New Jersey, footwear licenses of brands, including Jessica Simpson and Lucky Brand, and branded e-commerce sites. Camuto Group earns revenue from the sale of wholesale products to retailers, commissions for serving retailers as the design and buying agent for products under private labels ("First Cost"), and the sale of branded products on direct-to-consumer e-commerce sites. Also on November 5, 2018 , in partnership with Authentic Brands Group LLC, a global brand management and marketing company, we formed ABG-Camuto, LLC ("ABG-Camuto"), a joint venture in which we have a 40% interest. This joint venture acquired several intellectual property rights from the Sellers, including Vince Camuto, Louise et Cie, Sole Society, CC Corso Como, Enzo Angiolini and others, and focuses on licensing and developing new category extensions to support the global growth of these brands. We have entered into a licensing agreement with ABG-Camuto whereby we pay royalties on our net sales from the brands owned by ABG-Camuto. On March 4, 2016 , we acquired Ebuys, Inc. ("Ebuys"), an off-price footwear and accessories retailer operating in digital marketplaces. Due to recurring operating losses incurred by Ebuys since its acquisition, as well as increased competitive pressures in the digital marketplace, we decided to exit the business and ended all operations in the first quarter of fiscal 2018. On August 2, 2016 , we signed an agreement with the Apparel Group as an exclusive franchise partner in the Gulf Coast region of the Middle East. During the fourth quarter of fiscal 2018, we provided our termination notice to the Apparel Group in accordance with the terms of the agreement and we are winding down the franchise operations during fiscal 2019. We present three reportable segments: the U.S. Retail segment, the Canada Retail segment, and the Brand Portfolio segment. The U.S. Retail segment includes stores operated in the U.S. under the DSW Designer Shoe Warehouse banner and its related e-commerce site. The Canada Retail segment, which is the result of the TSL acquisition, includes stores operated in Canada under The Shoe Company, Shoe Warehouse, DSW Designer Shoe Warehouse banners and related e-commerce sites. The Brand Portfolio segment, which is the result of the Camuto Group acquisition, includes sales from wholesale, First Cost, and direct-to-consumer branded e-commerce sites. Our other operating segments are below the quantitative and qualitative thresholds for reportable segments and are aggregated into Other for segment reporting purposes. Basis of Presentation- The accompanying unaudited, condensed consolidated financial statements have been prepared by management in accordance with accounting principles generally accepted in the United States ("GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, we do not include all of the information and footnotes required by GAAP for complete financial statements. The accompanying financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. All such adjustments are of a normal recurring nature. The condensed consolidated financial position, results of operations and cash flows for these interim periods are not necessarily indicative of the results that may be expected in future periods. The balance sheet at February 2, 2019 has been derived from the audited financial statements at that date. The financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in our Annual Report on Form 10-K for the fiscal year ended February 2, 2019 , filed with the U.S. Securities and Exchange Commission (the "SEC") on March 26, 2019. Fiscal Year- Our fiscal year ends on the Saturday nearest to January 31. References to a fiscal year refer to the calendar year in which the fiscal year begins. Accounting Policies - The complete summary of significant accounting policies is included in the notes to the consolidated financial statements as presented in our Annual Report on Form 10-K for the fiscal year ended February 2, 2019 . Variable Interest Entities- We have certain joint ventures ("JVs") where each joint venture licenses brands and contracts with Camuto Group to provide design, buying and sourcing services. Under the JVs, Camuto Group is responsible for managing all aspects of the brands and the JVs pay royalties, commissions, or consulting fees to the other parties. We are responsible for providing all funding to support the working capital needs of the JVs. As a result, we have determined that we are the primary beneficiary of the JVs and consolidate the JVs within our financial statements. Assets and liabilities of the JVs in the aggregate are immaterial. At the end of the three months ended August 3, 2019 , we terminated two JVs along with related licensing and design, buying and sourcing arrangements. Integration and Restructuring Costs- During the six months ended August 3, 2019 , we incurred integration and restructuring costs related to our prior year acquisition activity, which consisted primarily of $3.6 million in severance, a $6.1 million termination fee for terminating two JVs, and $2.4 million of professional fees and other integration costs. During the six months ended August 4, 2018 , we incurred restructuring costs of $2.7 million in severance, primarily related to changes to our store staffing model. These costs are included in operating expenses in the condensed consolidated statements of operations. As of August 3, 2019 and August 4, 2018 , we had $4.6 million and $1.6 million , respectively, of severance liability included in accrued expenses on the condensed consolidated balance sheets. Principles of Consolidation- The condensed consolidated financial statements include the accounts of Designer Brands Inc. and its subsidiaries, including the JVs. All intercompany accounts and transactions have been eliminated in consolidation. All amounts are in United States dollars ("USD"), unless otherwise noted. Use of Estimates- The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the reporting period. Significant estimates are required as a part of sales returns allowances, customer allowances and discounts, gift card breakage income, deferred revenue associated with loyalty programs, valuation of inventories, depreciation and amortization, impairments of long-lived assets, intangibles and goodwill, lease accounting, legal reserves, foreign tax contingent liabilities, income taxes, self-insurance reserves, and valuations used to account for acquisitions. Although these estimates are based on management's knowledge of current events and actions it may undertake in the future, actual results could differ from these estimates. Income Taxes- Our effective tax rate changed from 203.3% for the six months ended August 4, 2018 to 27.9% for the six months ended August 3, 2019 . The decrease in the effective tax rate was primarily driven by valuation allowances and the goodwill impairment associated with the TSL acquisition during the six months ended August 4, 2018 . Cash, Cash Equivalents, and Restricted Cash - Cash and cash equivalents represent cash, money market funds and credit card receivables that generally settle within three days. Restricted cash represented cash that was restricted as to withdrawal or usage and consisted of a mandatory cash deposit for certain outstanding letters of credit. The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statements of cash flows: (in thousands) August 3, 2019 February 2, 2019 August 4, 2018 Cash and cash equivalents $ 51,762 $ 99,369 $ 215,996 Restricted cash, included in prepaid expenses and other current assets — 1,199 — Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows $ 51,762 $ 100,568 $ 215,996 Fair Value- Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities recorded at fair value are categorized using defined hierarchical levels related to the subjectivity associated with the inputs to fair value measurements as follows: • Level 1 - Quoted prices in active markets for identical assets or liabilities. • Level 2 - Quoted prices for similar assets or liabilities in active markets or inputs that are observable. • Level 3 - Unobservable inputs in which little or no market activity exists. We measure available-for-sale investments at fair value on a recurring basis. These investments are measured using a market-based approach using inputs such as prices of similar assets in active markets (categorized as Level 2). The carrying value of cash and cash equivalents, accounts receivables and accounts payables approximated their fair values due to their short-term nature. Prior Period Reclassifications- Certain prior period reclassifications were made to conform to the current period presentation. Franchise costs was reclassified to operating expenses, and accounts payable to related parties was reclassified to accounts payable. Adoption of ASU 2016-02, Leases- During the first quarter of fiscal 2019 , we adopted the new accounting standard for leases, Accounting Standards Update ("ASU") 2016-02 and the related amendments. We elected to initially apply ASU 2016-02 as of February 3, 2019 , with the recognition of $1.0 billion of lease assets and $1.1 billion of lease liabilities and a cumulative-effect adjustment that decreased retained earnings by $9.6 million for transition impairments related to previously impaired leased locations. Periods prior to February 3, 2019 were not restated. Upon transition to ASU 2016-02, we recognized lease liabilities based on the present value of the remaining future fixed lease commitments, net of outstanding tenant allowance receivables, with corresponding lease assets. Amounts for prepaid expenses, deferred rent, deferred construction and tenant allowances, the accrual for lease obligations, and favorable and unfavorable leasehold interests were netted against the lease assets. At transition, we elected the package of practical expedients, which allows us to carry forward the historical lease classification and not reassess whether any expired or existing contracts are leases or contain leases. We did not elect the use of hindsight to determine the term of our leases at transition. A lease liability for new leases is recorded based on the present value of future fixed lease commitments with a corresponding lease asset. For leases classified as operating leases, we recognize a single lease cost on a straight-line basis based on the combined amortization of the lease liability and the lease asset. Other leases will be accounted for as finance arrangements. For real estate leases, we are generally required to pay base rent, real estate taxes, and insurance, which are considered lease components, and maintenance, which is a non-lease component. As provided for under ASU 2016-02, we have elected to not separate non-lease payment components from the associated lease component for all new real estate leases. We determine the discount rate for each lease by estimating the rate that we would be required to pay on a secured borrowing for an amount equal to the lease payments over the lease term. Prior to the adoption of ASU 2016-02, we recognized rent expense on a straight-line basis over the noncancelable terms of the lease. For leases with fixed increases of the minimum rentals during the noncancelable term, we recorded the difference between the amounts charged to expense and the rent paid as deferred rent and amortized such deferred rent upon the delivery of the lease location by the lessor. In addition, cash allowances received from landlords were deferred and amortized on a straight-line basis over the noncancelable terms of the lease as a reduction of rent expense. Deferred rent and construction and tenant allowances are included in non-current liabilities on the condensed consolidated balance sheets for periods prior to February 3, 2019 . Also, we recorded reserves for leased spaces that were abandoned due to closure. Using a credit-adjusted risk-free rate to calculate the present value of the liability, we estimated future lease obligations based on remaining fixed lease payments, estimated or actual sublease income, and any other relevant factors. Adoption of ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software- Also during the first quarter of fiscal 2019 , we early adopted ASU 2018-15 on a prospective basis, which aligned the requirements for capitalizing implementation costs incurred in a cloud computing arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or acquire internal-use software. The adoption of ASU 2018-15 did not have a material impact on our condensed consolidated financial statements. |
Acquisitions and Equity Method
Acquisitions and Equity Method Investment | 6 Months Ended |
Aug. 03, 2019 | |
Business Combinations [Abstract] | |
Acquisitions and Equity Method Investment | ACQUISITIONS AND EQUITY METHOD INVESTMENT Step Acquisition of TSL- On May 10, 2018 , we acquired the remaining interest in TSL for $36.2 million Canadian dollars ("CAD") ( $28.2 million USD), net of acquired cash of $8.5 million CAD ( $6.6 million USD), by exercising our call option. This was accounted for as a step acquisition whereby we remeasured to fair value our previously held assets, which included our equity investment in TSL and notes and accounts receivable from TSL, and included these assets in the determination of the purchase price. During the second quarter of fiscal 2018, as a result of the remeasurement, we recorded a loss of $34.0 million to non-operating income (expenses), net, in the consolidated statements of operations. Also during the second quarter of fiscal 2018, we reclassified a net loss of $12.2 million of foreign currency translation adjustments related to the previously held balances from accumulated other comprehensive loss to non-operating income (expenses), net. The purchase price and the allocation of the total consideration to the fair values of the assets and liabilities acquired was finalized as of February 2, 2019 and consisted of the following (in USD): (in thousands) Final Purchase Price and Allocation Purchase price: Cash consideration, net of cash acquired $ 28,152 Replacement stock-based awards attributable to pre-acquisition services 196 Fair value of previously held assets 92,242 $ 120,590 Fair value of assets and liabilities acquired: Inventories $ 66,072 Other current assets 3,687 Property and equipment 41,008 Goodwill 43,022 Intangible assets 20,689 Accounts payable and accrued expenses (33,196 ) Non-current liabilities (20,692 ) $ 120,590 The fair value of previously held assets was determined immediately before the business combination, primarily by considering the income valuation approach (discounted cash flow) and the market valuation approach (precedent comparable transactions). Additionally, other information such as current market, industry and macroeconomic conditions were utilized to assist in developing these fair value measurements. The fair value of intangible assets includes $15.7 million for tradenames, $3.6 million for favorable leasehold interests, and $1.4 million for customer relationships associated with the Canada loyalty program. The fair value of unfavorable leasehold interests, included in non-current liabilities, was $7.6 million . The fair value for tradenames was determined using the relief from royalty method of the income approach, the fair value for leasehold interests was determined based on the market valuation approach, and the fair value for customer relationships related to the loyalty program was determined using the replacement cost method. The fair values for property and equipment were determined using the cost and market approaches. The fair value of inventories, which is made up of finished goods, was determined based on market assumptions for realizing a reasonable profit after selling costs. The goodwill represents the excess of the purchase price over the fair value of the net assets acquired. With this being a step acquisition, the purchase price included the fair value of our previously held assets, which considered the valuation of the TSL enterprise. This valuation identified that the resulting goodwill was not supportable as the value of the acquired net assets exceeded the enterprise fair value. As a result, during fiscal 2018, we recorded a goodwill impairment charge, net of adjustments as a result of recording adjustments to the preliminary purchase allocations, which resulted in impairing all of the Canada Retail segment's goodwill. A portion of the goodwill is not expected to be deductible for income tax purposes. During the three months and six months ended August 4, 2018 , our condensed consolidated statements of operations included revenue and net losses for TSL of $72.5 million and $38.5 million , respectively, which included the goodwill impairment charge of $36.2 million . Primarily in fiscal 2018, we incurred $3.1 million of acquisition-related costs as a result of the step acquisition (not included in the TSL net loss disclosed in the previous sentence), which were included in operating expenses in the condensed consolidated statements of operations. Acquisition of Camuto Group- On November 5, 2018 , we completed the acquisition of all of the outstanding securities of Camuto Group for $171.3 million , net of acquired cash of $9.7 million . The purchase price of the acquisition, along with the acquired equity investment in ABG-Camuto (discussed below), was funded with available cash and borrowings on the revolving line of credit of $160.0 million . The following table summarizes the preliminary and revised purchase price and the allocation of the total consideration to the fair values of the assets and liabilities acquired: (in thousands) Preliminary Purchase Price and Allocation as of November 5, 2018 Measurement Period Adjustments Revised Purchase Price and Allocation as of August 3, 2019 Purchase price - Cash consideration, net of cash acquired $ 171,251 $ — $ 171,251 Fair value of assets and liabilities acquired: Accounts receivable $ 83,939 $ 3,980 $ 87,919 Inventories 74,499 (758 ) 73,741 Other current assets 7,197 1,045 8,242 Property and equipment 43,906 960 44,866 Goodwill 63,614 26,767 90,381 Intangible asset 27,000 (21,700 ) 5,300 Other assets 13,351 — 13,351 Accounts payable and other liabilities (122,811 ) (2,195 ) (125,006 ) Non-current liabilities (19,444 ) (8,099 ) (27,543 ) $ 171,251 $ — $ 171,251 The fair value of the intangible asset relates to customer relationships and was based on the excess earnings method under the income approach. The fair value measurement is based on significant unobservable inputs, including the future cash flows and discount and customer attrition rates. The fair values for property and equipment were determined using the cost and market approaches. The fair value of inventories, which is made up of finished goods, was determined based on market assumptions for realizing a reasonable profit after selling costs. The inventory valuation step-up was recognized to cost of goods sold during the fourth quarter of fiscal 2018 based on assumed inventory turns. The goodwill represents the excess of the purchase price over the fair value of the net assets acquired, and was primarily attributable to acquiring an established design and sourcing process, which provides us the opportunity to expand our exclusive products offering at a lower cost in our retail segments, and an assembled workforce. Goodwill is expected to be deductible for income tax purposes. Non-current liabilities include $12.7 million of estimated unpaid foreign payroll and other taxes. We recorded an offsetting indemnification asset to other assets, which we expect to collect under the terms of the securities purchase agreement with the Sellers. See Note 16 , Commitments and Contingencies, for additional information. Adjustments made during the three months ended August 3, 2019 are the result of refining preliminary cash flow assumptions relating to certain synergy assumptions to the various reporting units, adjusting accruals and related indemnification receivables based on additional information, and other immaterial adjustments identified as we perform additional analysis of the assets and liabilities acquired. Adjustments to the purchase price and the allocation of the purchase price may be made during a measurement period of up to one year from the acquisition date as additional information that existed at the date of the acquisition is obtained. Measurement period adjustments are recognized on a prospective basis in the period of change. The purchase price is subject to adjustments primarily based upon a working capital provision as provided by the purchase agreement. The allocation of the purchase price is currently based on certain preliminary valuations and analysis that have not been completed as of the date of this filing. In addition, we have not completed the allocation of goodwill to our U.S. Retail and Brand Portfolio segments or the reporting units within the Brand Portfolio segment. Primarily during fiscal 2018, we incurred $22.2 million of acquisition-related costs as a result of the acquisition, which were included in operating expenses in the condensed consolidated statements of operations. Equity Investment in ABG-Camuto- On November 5, 2018 , we acquired a 40% interest in the newly formed ABG-Camuto joint venture for $56.8 million in partnership with Authentic Brands Group LLC. Also on November 5, 2018 , ABG-Camuto acquired several intellectual property rights from the Sellers and entered into a licensing agreement with us, which earns royalties from the net sales of Camuto Group under the brands acquired. Activity related to our equity investment in ABG-Camuto was as follows: (in thousands) Six Months Ended August 3, 2019 Balance at beginning of period $ 58,125 Share of net earnings 4,692 Distributions received (7,784 ) Balance at end of period $ 55,033 Combined Results- The following table provides the supplemental pro forma total revenue and net loss of the combined entity had the acquisition dates of TSL and Camuto Group and the investment in ABG-Camuto been the first day of our fiscal 2017: (in thousands) Three months ended August 4, 2018 Six months ended August 4, 2018 Total revenue $ 886,780 $ 1,755,210 Net loss $ (45,722 ) $ (33,131 ) The amounts in the supplemental pro forma results apply our accounting policies, eliminate intercompany transactions, assume the acquisition-related transaction costs were incurred in fiscal 2017, and reflect adjustments for additional expenses that would have been charged assuming borrowings on the revolving line of credit of $160 million and the same fair value adjustments to inventory, property and equipment, and acquired intangibles had been applied on the first day of our fiscal 2017. Related to the TSL acquisition, the supplemental pro forma results also exclude the loss related to the remeasurement of previously held assets, the net loss of foreign currency translation related to the previously held balances from accumulated other comprehensive loss, and the goodwill impairment charge. Because the ABG-Camuto investment was integral to the Camuto Group acquisition, the supplemental pro forma results include royalty expenses that would be due to ABG-Camuto using the guaranteed minimum royalties per the license agreement and the related earnings from our equity investment in ABG-Camuto had the transactions occurred on the first day of our fiscal 2017. Accordingly, these supplemental pro forma results have been prepared for comparative purposes only and are not intended to be indicative of results of operations that would have occurred had the acquisitions actually occurred in the prior year period or indicative of the results of operations for any future period. |
Revenue
Revenue | 6 Months Ended |
Aug. 03, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue | REVENUE Disaggregation of Revenue- The following table presents our total revenue disaggregated by segments: Three months ended Six months ended (in thousands) August 3, 2019 August 4, 2018 August 3, 2019 August 4, 2018 Segment net sales: U.S. Retail $ 677,920 $ 691,757 $ 1,369,760 $ 1,361,541 Canada Retail 63,306 72,532 115,122 72,532 Brand Portfolio 95,422 — 196,289 — Other 29,480 29,446 65,087 70,099 Total net sales 866,128 793,735 1,746,258 1,504,172 Commission, franchise and other revenue 11,771 1,533 20,676 3,198 877,899 795,268 1,766,934 1,507,370 Elimination of intersegment revenue (17,701 ) — (28,221 ) — Total revenue $ 860,198 $ 795,268 $ 1,738,713 $ 1,507,370 The U.S. Retail and Brand Portfolio segments and Other net sales recognized are primarily based on sales to customers in the U.S., and Canada Retail segment net sales recognized are based on sales to customers in Canada. Revenue realized from geographic markets outside of the U.S. and Canada have collectively been immaterial. The following table presents total revenue by product and service category: Three months ended Six months ended (in thousands) August 3, 2019 August 4, 2018 August 3, 2019 August 4, 2018 Net sales: U.S. Retail segment: Women's footwear $ 458,390 $ 467,337 $ 940,511 $ 936,621 Men's footwear 140,895 151,573 269,884 284,732 Accessories, kids and other 78,635 72,847 159,365 140,188 677,920 691,757 1,369,760 1,361,541 Canada Retail segment: Women's footwear 35,533 42,067 64,159 42,067 Men's footwear 16,432 19,455 29,440 19,455 Accessories, kids and other 11,341 11,010 21,523 11,010 63,306 72,532 115,122 72,532 Brand Portfolio segment: Wholesale 88,577 — 180,331 — Direct-to-consumer 6,845 — 15,958 — 95,422 — 196,289 — Other 29,480 29,446 65,087 70,099 Total net sales 866,128 793,735 1,746,258 1,504,172 Commission, franchise and other revenue 11,771 1,533 20,676 3,198 877,899 795,268 1,766,934 1,507,370 Elimination of intersegment revenue (17,701 ) — (28,221 ) — Total revenue $ 860,198 $ 795,268 $ 1,738,713 $ 1,507,370 Deferred Revenue Liabilities- We record deferred revenue liabilities, included in accrued expenses on the condensed consolidated balance sheets, for remaining obligations we have to our customers. The following table presents the changes and total balances for gift cards and our loyalty programs: Three months ended Six months ended (in thousands) August 3, 2019 August 4, 2018 August 3, 2019 August 4, 2018 Gift cards: Beginning of period $ 30,066 $ 28,151 $ 34,998 $ 32,792 Gift cards redeemed and breakage recognized to net sales (21,843 ) (21,761 ) (44,098 ) (44,034 ) Gift cards issued 20,054 20,401 37,377 38,033 End of period $ 28,277 $ 26,791 $ 28,277 $ 26,791 Loyalty programs: Beginning of period $ 16,153 $ 22,111 $ 16,151 $ 21,282 Loyalty certificates redeemed and expired and other adjustments recognized to net sales (9,507 ) (16,750 ) (18,828 ) (23,385 ) Deferred revenue for loyalty points issued 9,388 11,425 18,711 18,889 End of period $ 16,034 $ 16,786 $ 16,034 $ 16,786 |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Aug. 03, 2019 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | RELATED PARTY TRANSACTIONS Schottenstein Affiliates As of August 3, 2019 , the Schottenstein Affiliates, entities owned or controlled by Jay L. Schottenstein, the executive chairman of our Board of Directors, and members of his family, beneficially owned approximately 15% of the Company's outstanding common shares, representing approximately 51% of the combined voting power. As of August 3, 2019 , the Schottenstein Affiliates beneficially owned 3.4 million Class A common shares and 7.7 million Class B common shares. We had the following related party transactions with Schottenstein Affiliates: Leases- We lease our fulfillment center and certain store locations owned by Schottenstein Affiliates. See Note 15 , Leases , for rent expense and future minimum lease payment requirements associated with the Schottenstein Affiliates. Other Purchases and Services- During the three months ended August 3, 2019 and August 4, 2018 , we had other purchases and services from Schottenstein Affiliates of $1.5 million and $1.7 million , respectively. During the six months ended August 3, 2019 and August 4, 2018 , we had other purchases and services from Schottenstein Affiliates of $3.4 million and $3.3 million , respectively. Due to Related Parties- As of August 3, 2019 , February 2, 2019 and August 4, 2018 , we had amounts due to related parties of $0.5 million , $1.0 million and $0.5 million , respectively, included in accounts payable on the condensed consolidated balance sheets. ABG-Camuto Beginning in the fourth quarter of fiscal 2018, we have a 40% interest in ABG-Camuto. ABG-Camuto entered into a licensing agreement with us whereby we pay royalties on the net sales of the brands owned by ABG-Camuto. During the three and six months ended August 3, 2019 , we recorded $3.6 million and $9.3 million of royalty expense payable to ABG-Camuto, respectively. As of February 2, 2019 , we had $2.4 million |
Earnings (Loss) Per Share
Earnings (Loss) Per Share | 6 Months Ended |
Aug. 03, 2019 | |
Earnings Per Share [Abstract] | |
Earnings (Loss) Per Share | EARNINGS (LOSS) PER SHARE Basic earnings (loss) per share is based on net income (loss) and the weighted average of Class A and Class B common shares outstanding. Diluted earnings (loss) per share reflects the potential dilution of common shares adjusted for outstanding stock options, restricted stock units ("RSUs"), and performance-based restricted stock units ("PSUs") calculated using the treasury stock method. The following is a reconciliation of the number of shares used in the calculation of earnings (loss) per share: Three months ended Six months ended (in thousands) August 3, 2019 August 4, 2018 August 3, 2019 August 4, 2018 Weighted average basic shares outstanding 73,529 80,265 75,267 80,187 Dilutive effect of stock-based compensation awards 787 — 1,014 — Weighted average diluted shares outstanding 74,316 80,265 76,281 80,187 For the three months ended August 3, 2019 and August 4, 2018 , the number of potential shares that were not included in the computation of diluted earnings (loss) per share due to the anti-dilutive effect was 4.6 million and 3.2 million , respectively. For the six months ended August 3, 2019 and August 4, 2018 , the number of potential shares that were not included in the computation of diluted earnings (loss) per share due to the anti-dilutive effect was 2.9 million and 3.2 million , respectively. |
Stock-Based Compensation
Stock-Based Compensation | 6 Months Ended |
Aug. 03, 2019 | |
Share-based Payment Arrangement [Abstract] | |
Stock-Based Compensation | STOCK-BASED COMPENSATION Stock-based compensation expense consisted of the following: Three months ended Six months ended (in thousands) August 3, 2019 August 4, 2018 August 3, 2019 August 4, 2018 Stock options $ 563 $ 1,343 $ 1,386 $ 3,138 Restricted and director stock units 4,798 3,841 8,345 6,560 $ 5,361 $ 5,184 $ 9,731 $ 9,698 The following table summarizes the stock-based compensation award activity for the six months ended August 3, 2019 : Number of shares (in thousands) Stock Options Time-Based RSUs Performance-Based RSUs Outstanding - beginning of period 4,001 989 596 Granted — 841 358 Exercised / vested (99 ) (111 ) (97 ) Forfeited / expired (38 ) (56 ) — Outstanding - end of period 3,864 1,663 857 As of August 3, 2019 , 2.7 million shares of Class A common shares remain available for future stock-based compensation grants under the 2014 Long-Term Incentive Plan. |
Shareholders' Equity
Shareholders' Equity | 6 Months Ended |
Aug. 03, 2019 | |
Equity [Abstract] | |
Shareholders' Equity | SHAREHOLDERS' EQUITY Shares- Our Class A common shares are listed for trading under the ticker symbol "DBI" on the New York Stock Exchange. There is currently no public market for the Company's Class B common shares, but the Class B common shares can be exchanged for the Company's Class A common shares at the election of the holder on a share for share basis. Holders of Class A common shares are entitled to one vote per share and holders of Class B common shares are entitled to eight votes per share on matters submitted to shareholders for approval. The following table provides additional information for our common shares: August 3, 2019 February 2, 2019 August 4, 2018 (in thousands) Class A Class B Class A Class B Class A Class B Authorized shares 250,000 100,000 250,000 100,000 250,000 100,000 Issued shares 86,080 7,733 85,763 7,733 85,652 7,733 Outstanding shares 64,911 7,733 70,672 7,733 72,561 7,733 Treasury shares 21,169 — 15,091 — 13,091 — We have authorized 100 million shares of no par value preferred shares with no shares issued for any of the periods presented. Dividends- On August 29, 2019 , the Board of Directors declared a quarterly cash dividend payment of $0.25 per share for both Class A and Class B common shares. The dividend will be paid on October 4, 2019 to shareholders of record at the close of business on September 20, 2019 . Share Repurchases- On August 17, 2017 , the Board of Directors authorized the repurchase of an additional $500 million of Class A common shares under our share repurchase program, which was added to the $33.5 million remaining from the previous authorization. During the six months ended August 3, 2019 , we repurchased 6.1 million Class A common shares at a cost of $125.0 million , with $351.6 million of Class A common shares that remain authorized under the program as of August 3, 2019 . During the six months ended August 4, 2018 , we did not repurchase any Class A common shares. The share repurchase program may be suspended, modified or discontinued at any time, and we have no obligation to repurchase any amount of our common shares under the program. Shares will be repurchased in the open market at times and in amounts considered appropriate based on price and market conditions. Accumulated Other Comprehensive Loss- Changes for the balances of each component of accumulated other comprehensive loss were as follows (all amounts are net of tax): Three months ended August 3, 2019 August 4, 2018 (in thousands) Foreign Currency Translation Available-for-Sale Securities Total Foreign Currency Translation Available-for-Sale Securities Total Accumulated other comprehensive loss - beginning of period $ (3,042 ) $ (224 ) $ (3,266 ) $ (12,218 ) $ (980 ) $ (13,198 ) Other comprehensive income (loss) before reclassifications 461 196 657 (1,365 ) 27 (1,338 ) Amounts reclassified to non-operating income (expenses), net — 23 23 12,218 42 12,260 Other comprehensive income 461 219 680 10,853 69 10,922 Accumulated other comprehensive loss - end of period $ (2,581 ) $ (5 ) $ (2,586 ) $ (1,365 ) $ (911 ) $ (2,276 ) Six months ended August 3, 2019 August 4, 2018 (in thousands) Foreign Currency Translation Available-for-Sale Securities Total Foreign Currency Translation Available-for-Sale Securities Total Accumulated other comprehensive loss - beginning of period $ (2,328 ) $ (378 ) $ (2,706 ) $ (9,278 ) $ (796 ) $ (10,074 ) Other comprehensive income (loss) before reclassifications (253 ) 438 185 (6,050 ) (317 ) (6,367 ) Amounts reclassified to non-operating expenses, net — (65 ) (65 ) 13,963 202 14,165 Other comprehensive income (loss) (253 ) 373 120 7,913 (115 ) 7,798 Accumulated other comprehensive loss - end of period $ (2,581 ) $ (5 ) $ (2,586 ) $ (1,365 ) $ (911 ) $ (2,276 ) |
Accounts Receivable
Accounts Receivable | 6 Months Ended |
Aug. 03, 2019 | |
Accounts Receivable [Abstract] | |
Accounts Receivable | ACCOUNTS RECEIVABLE Accounts receivable, net, consisted of the following: (in thousands) August 3, 2019 February 2, 2019 August 4, 2018 Customer accounts receivables: Serviced by third-party provider with guaranteed payment $ 61,494 $ 47,599 $ — Serviced by third-party provider without guaranteed payment 495 280 — Serviced in-house 10,145 9,892 3,090 Construction and tenant allowance receivables due from landlords (1) — 4,034 5,201 Other receivables 14,460 8,004 8,968 Accounts receivable 86,594 69,809 17,259 Allowance for doubtful accounts (1,432 ) (939 ) — Accounts receivable, net $ 85,162 $ 68,870 $ 17,259 (1) Upon transition to ASU 2016-02 at the beginning of fiscal 2019, amounts for construction and tenant allowance receivables due from landlords were netted against the operating lease liabilities. |
Investments
Investments | 6 Months Ended |
Aug. 03, 2019 | |
Investments [Abstract] | |
Investments | INVESTMENTS Investments in available-for-sale securities consisted of the following: (in thousands) August 3, 2019 February 2, 2019 August 4, 2018 Carrying value of investments $ 25,510 $ 70,195 $ 73,978 Unrealized gains included in accumulated other comprehensive loss 18 44 10 Unrealized losses included in accumulated other comprehensive loss (24 ) (521 ) (869 ) Fair value $ 25,504 $ 69,718 $ 73,119 |
Property and Equipment
Property and Equipment | 6 Months Ended |
Aug. 03, 2019 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment | PROPERTY AND EQUIPMENT Property and equipment consisted of the following: (in thousands) August 3, 2019 February 2, 2019 August 4, 2018 Land $ 1,110 $ 1,110 $ 1,110 Buildings 13,445 12,485 12,485 Building and leasehold improvements 440,425 437,116 425,651 Furniture, fixtures and equipment 489,805 487,494 451,040 Software 183,226 161,226 145,111 Construction in progress (1) 41,454 38,646 46,643 Total property and equipment 1,169,465 1,138,077 1,082,040 Accumulated depreciation and amortization (766,686 ) (728,501 ) (694,419 ) Property and equipment, net $ 402,779 $ 409,576 $ 387,621 (1) Construction in progress is comprised primarily of the construction of leasehold improvements and furniture and fixtures related to unopened stores and internal-use software under development. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 6 Months Ended |
Aug. 03, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | GOODWILL AND INTANGIBLE ASSETS Goodwill- Activity related to our goodwill was as follows: Six months ended August 3, 2019 August 4, 2018 (in thousands) Goodwill Accumulated Impairments Net Goodwill Accumulated Impairments Net Beginning of period by segment: U.S. Retail $ 25,899 $ — $ 25,899 $ 25,899 $ — $ 25,899 Canada Retail 42,048 (42,048 ) — — — — Brand Portfolio 63,614 — 63,614 — — — Other — — — 53,790 (53,790 ) — 131,561 (42,048 ) 89,513 79,689 (53,790 ) 25,899 Activity by segment: Canada Retail: Acquired TSL goodwill — — — 37,044 — 37,044 Impairment charges — — — — (36,240 ) (36,240 ) Currency translation adjustment (416 ) 416 — (580 ) (224 ) (804 ) Brand Portfolio - Purchase price and allocation adjustments 26,767 — 26,767 — — — Other - Eliminated goodwill from Ebuys exit — — — (53,790 ) 53,790 — 26,351 416 26,767 (17,326 ) 17,326 — End of period by segment: U.S. Retail 25,899 — 25,899 25,899 — 25,899 Canada Retail 41,632 (41,632 ) — 36,464 (36,464 ) — Brand Portfolio 90,381 — 90,381 — — — $ 157,912 $ (41,632 ) $ 116,280 $ 62,363 $ (36,464 ) $ 25,899 Intangible Assets- Intangible assets consisted of the following: (in thousands) Cost Accumulated Amortization Net August 3, 2019 Definite-lived customer relationships $ 6,661 $ (1,064 ) $ 5,597 Indefinite-lived trademarks and tradenames 15,515 — 15,515 $ 22,176 $ (1,064 ) $ 21,112 February 2, 2019 Definite-lived: Customer relationships $ 28,375 $ (1,010 ) $ 27,365 Favorable leasehold interests 3,513 (295 ) 3,218 Indefinite-lived trademarks and tradenames 15,546 — 15,546 $ 47,434 $ (1,305 ) $ 46,129 August 4, 2018 Definite-lived: Customer relationships $ 1,378 $ (114 ) $ 1,264 Favorable leasehold interests 3,522 (101 ) 3,421 Indefinite-lived trademarks and tradenames 15,600 — 15,600 $ 20,500 $ (215 ) $ 20,285 The customer relationships are amortized by the straight-line method over three years associated with the Canada loyalty program and eight years for Brand Portfolio customer relationships. Upon transition to ASU 2016-02 at the beginning of fiscal 2019, amounts for favorable leasehold interests were netted against the operating lease assets. |
Accrued Expenses
Accrued Expenses | 6 Months Ended |
Aug. 03, 2019 | |
Payables and Accruals [Abstract] | |
Accrued Expenses | ACCRUED EXPENSES Accrued expenses consisted of the following: (in thousands) August 3, 2019 February 2, 2019 August 4, 2018 Gift cards and merchandise credits $ 28,277 $ 34,998 $ 26,791 Accrued compensation and related expenses 38,532 53,577 30,224 Accrued taxes 18,330 16,491 21,029 Loyalty programs deferred revenue 16,034 16,151 16,786 Sales returns 19,332 17,743 14,426 Customer allowances and discounts 9,306 13,094 — Other (1) 43,626 49,481 36,520 $ 173,437 $ 201,535 $ 145,776 (1) Other is comprised of various other accrued expenses that we expect will settle within one year of the applicable period. |
Other Non-Current Liabilities
Other Non-Current Liabilities | 6 Months Ended |
Aug. 03, 2019 | |
Other Liabilities Disclosure [Abstract] | |
Other Non-Current Liabilities | OTHER NON-CURRENT LIABILITIES Other non-current liabilities consisted of the following: (in thousands) August 3, 2019 February 2, 2019 August 4, 2018 Foreign tax contingent liabilities $ 14,807 $ 13,429 $ — Deferred tax liabilities 3,393 3,260 — Construction and tenant allowances (1) — 71,634 75,439 Deferred rent (1) — 35,934 35,694 Accrual for lease obligations (1) — 16,483 9,511 Unfavorable leasehold interests (1) — 5,779 7,000 Other (2) 20,390 18,528 22,672 $ 38,590 $ 165,047 $ 150,316 (1) Upon transition to ASU 2016-02 at the beginning of fiscal 2019, amounts for deferred rent, construction and tenant allowances, the accrual for lease obligations, and unfavorable leasehold interests were netted against the operating lease assets. (2) Other is comprised of various other accrued expenses that we expect will settle beyond one year from the end of the applicable period. The following table presents the changes and total balances for the accrual for lease obligations: Six months ended (in thousands) August 3, 2019 August 4, 2018 Beginning of period $ 16,483 $ 6,511 Netted against lease assets upon transition to ASU 2016-02 (16,483 ) — Additions — 4,884 Lease obligation payments, net of sublease income — (2,004 ) Adjustments — 120 End of period $ — $ 9,511 |
Debt
Debt | 6 Months Ended |
Aug. 03, 2019 | |
Debt Disclosure [Abstract] | |
Debt | DEBT Credit Facility - On August 25, 2017 , we entered into a senior unsecured revolving credit agreement (the "Credit Facility") with a maturity date of August 25, 2022 that replaced our previous secured revolving credit agreement and letter of credit agreement. On October 10, 2018 , the Credit Facility was amended to include the acquisition of Camuto Group as a permitted acquisition and, following the acquisition, to utilize an accordion feature that provided for an increase to the revolving line of credit. On November 5, 2018 , following the acquisition of Camuto Group, the amended Credit Facility was increased with no change to the sub-limits. As of August 3, 2019 , the Credit Facility provided a revolving line of credit up to $400 million , with sub-limits for the issuance of up to $50 million in letters of credit, swing loan advances of up to $15 million , and the issuance of up to $75 million in foreign currency revolving loans and letters of credit. The Credit Facility may be used to provide funds for working capital, capital expenditures, share repurchases, other expenditures, and permitted acquisitions as defined by the Credit Facility. Our Credit Facility allows the payments of dividends by us or our subsidiaries, provided that immediately before and after a dividend payment there is no event of default, as defined in our Credit Facility. Loans issued under the revolving line of credit bear interest, at our option, at a base rate or an alternate base rate as defined in the Credit Facility plus a margin based on our leverage ratio, with an interest rate of 4.1% as of August 3, 2019 . Any loans issued in CAD bear interest at the alternate base rate plus a margin based on our leverage ratio. Interest on letters of credit issued under the Credit Facility is variable based on our leverage ratio and the type of letters of credit, with an interest rate of 1.7% as of August 3, 2019 . Commitment fees are based on the average unused portion of the Credit Facility at a variable rate based on our leverage ratio. As of August 3, 2019 , we had $235.0 million outstanding under the Credit Facility and $1.3 million in letters of credit issued, resulting in $163.7 million available for borrowings. Interest expense related to the Credit Facility includes interest on borrowings and letters of credit, commitment fees and the amortization of debt issuance costs. Debt Covenants- The Credit Facility contains financial and other covenants, including, but not limited to, limitations on indebtedness, liens and investments, as well as the maintenance of a leverage ratio not to exceed 3.25 :1 and a fixed charge coverage ratio not to be less than 1.75 :1. As a result of the acquisition of Camuto Group, we have elected to increase the leverage ratio whereby we must maintain a leverage ratio not to exceed 3.50 :1 as of the end of the fourth quarter of fiscal 2018 and for the subsequent three quarters. A violation of any of the covenants could result in a default under the Credit Facility that would permit the lenders to restrict our ability to further access the Credit Facility for loans and letters of credit and require the immediate repayment of any outstanding loans under the Credit Facility. As of August 3, 2019 , we were in compliance with all financial covenants. |
Leases
Leases | 6 Months Ended |
Aug. 03, 2019 | |
Leases [Abstract] | |
Leases | LEASES We lease our stores, fulfillment center and other facilities under operating lease arrangements with unrelated parties and related parties owned by Schottenstein Affiliates. The majority of our real estate leases provide for renewal options, which are typically not included in the lease term used for measuring the lease assets and lease liabilities as it is not reasonably certain we will exercise options. We pay variable amounts for certain lease and non-lease components as well as for contingent rentals based on sales for certain leases where the sales are in excess of specified levels and for leases that have certain contingent triggering events that are in effect. We also lease equipment under operating leases. We receive operating lease income from unrelated third parties for leasing portions or all of certain owned and leased properties. Operating lease income is included in commission, franchise and other revenue in our condensed consolidated statements of operations. Lease income and lease expense consisted of the following for the three and six months ended August 3, 2019 (after the adoption of ASU 2016-02) and August 4, 2018 (prior to the adoption of ASU 2016-02): Three months ended Six months ended (in thousands) August 3, 2019 August 4, 2018 August 3, 2019 August 4, 2018 Operating lease income $ 2,236 $ 1,149 $ 4,448 $ 2,297 Operating lease expense: Lease expense to unrelated parties $ 52,707 $ 51,263 $ 106,061 $ 96,748 Lease expense to related parties 2,371 2,303 4,713 4,591 Variable lease expense to unrelated parties 12,981 5,675 26,003 12,498 Variable lease expense to related parties 348 — 650 — $ 68,407 $ 59,241 $ 137,427 $ 113,837 August 3, 2019 Other operating lease information: Weighted-average remaining lease term 6.3 years Weighted-average discount rate 3.9 % As of August 3, 2019 , our future fixed minimum lease payments are as follows: (in thousands) Unrelated Parties Related Parties Total Remainder of fiscal 2019 $ 96,844 $ 3,937 $ 100,781 Fiscal 2020 233,961 9,364 243,325 Fiscal 2021 216,107 8,697 224,804 Fiscal 2022 182,432 7,418 189,850 Fiscal 2023 142,408 4,573 146,981 Future fiscal years thereafter 314,601 15,493 330,094 1,186,353 49,482 1,235,835 Less discounting impact on operating leases (138,305 ) (6,015 ) (144,320 ) Total operating lease liabilities 1,048,048 43,467 1,091,515 Less current operating lease liabilities (178,091 ) (7,878 ) (185,969 ) Non-current operating lease liabilities $ 869,957 $ 35,589 $ 905,546 As of August 3, 2019 , we have entered into lease commitments for four new store locations and two store relocations where the leases have not yet commenced, and the lease liabilities have not yet been recorded. We expect the lease commencement to begin in the next fiscal quarter for these locations and we will record additional operating lease liabilities of approximately $11.4 million . As of February 2, 2019 , future minimum lease payment requirements, excluding contingent rental payments, maintenance, insurance, real estate taxes, and the amortization of deferred rent and construction and tenant allowances, consisted of the following, as determined prior to the adoption of ASU 2016-02: (in thousands) Unrelated Parties Related Parties Total Fiscal 2019 $ 233,237 $ 9,425 $ 242,662 Fiscal 2020 227,001 9,364 236,365 Fiscal 2021 204,803 8,697 213,500 Fiscal 2022 170,030 6,518 176,548 Fiscal 2023 131,594 1,874 133,468 Future fiscal years thereafter 298,437 5,596 304,033 $ 1,265,102 $ 41,474 $ 1,306,576 |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Aug. 03, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES Legal Proceedings- We are involved in various legal proceedings that are incidental to the conduct of our business. Although it is not possible to predict with certainty the eventual outcome of any litigation, we believe the amount of any potential liability with respect to current legal proceedings will not be material to the results of operations or financial condition. As additional information becomes available, we will assess any potential liability related to pending litigation and revise the estimates as needed. Foreign Tax Contingencies- During the due diligence procedures performed related to the acquisition of Camuto Group, we identified probable contingent liabilities associated with unpaid foreign payroll and other taxes that could also result in assessed penalties and interest. We have developed an estimate of the range of outcomes related to these obligations of $14.8 million to $30.0 million for obligations we are aware of at this time. As of August 3, 2019 , we recorded a contingent liability of $14.8 million representing the low end of the range and an indemnification asset of $12.7 million representing the estimated amount as of the acquisition date, which we expect to collect under the terms of the securities purchase agreement with the Sellers. We are continuing to assess the exposure, which may result in material changes to these estimates, and we may identify additional contingent liabilities. We believe that the Sellers are obligated to indemnify us for any payments to foreign taxing authorities for the periods up to the acquisition date. Although a portion of the purchase price is held in escrow and another portion is held in a restricted bank account, there can be no assurance that we will successfully collect all amounts that we may be obligated to settle with the foreign taxing authorities. Guarantee- As a result of a previous merger, we provided a guarantee for a lease commitment that is scheduled to expire in 2024 for a location that has been leased to a third party. If the third party does not pay the rent or vacates the premise, we may be required to make full rent payments to the landlord. As of August 3, 2019 , the total future minimum lease payment requirements for this guarantee were approximately $15.0 million . |
Segment Reporting
Segment Reporting | 6 Months Ended |
Aug. 03, 2019 | |
Segment Reporting [Abstract] | |
Segment Reporting | SEGMENT REPORTING Our three reportable segments, which are also operating segments, are the U.S. Retail segment, the Canada Retail segment, and the Brand Portfolio segment. All other operating segments are below the quantitative and qualitative thresholds for reportable segments and are aggregated into Other for segment reporting purposes. The following provides certain financial data by segment reconciled to the condensed consolidated financial statements: (in thousands) U.S. Retail Canada Retail Brand Portfolio Other Corporate/Eliminations Total Three months ended August 3, 2019 External revenue: Net sales $ 677,920 $ 63,306 $ 78,934 $ 29,480 $ — $ 849,640 Commission, franchise and other revenue — — 6,312 — 4,246 10,558 Total revenue $ 677,920 $ 63,306 $ 85,246 $ 29,480 $ 4,246 $ 860,198 Intersegment revenue $ — $ — $ 17,701 $ — $ (17,701 ) $ — Gross profit (1) $ 208,056 $ 21,939 $ 19,261 $ 6,041 $ (436 ) $ 254,861 Income from equity investment in ABG-Camuto $ — $ — $ 2,464 $ — $ — $ 2,464 Three months ended August 4, 2018 Revenue: Net sales $ 691,757 $ 72,532 $ — $ 29,446 $ — $ 793,735 Commission, franchise and other revenue — — — — 1,533 1,533 Total revenue $ 691,757 $ 72,532 $ — $ 29,446 $ 1,533 $ 795,268 Gross profit (1) $ 229,601 $ 18,218 $ — $ 6,676 $ — $ 254,495 Six months ended August 3, 2019 External revenue: Net sales $ 1,369,760 $ 115,122 $ 169,663 $ 65,087 $ — $ 1,719,632 Commission, franchise and other revenue — — 9,609 — 9,472 19,081 Total revenue $ 1,369,760 $ 115,122 $ 179,272 $ 65,087 $ 9,472 $ 1,738,713 Intersegment revenue $ — $ — $ 28,221 $ — $ (28,221 ) $ — Gross profit (1) $ 417,947 $ 37,686 $ 41,255 $ 15,352 $ (1,343 ) $ 510,897 Income from equity investment in ABG-Camuto $ — $ — $ 4,692 $ — $ — $ 4,692 Six months ended August 4, 2018 Revenue: Net sales $ 1,361,541 $ 72,532 $ — $ 70,099 $ — $ 1,504,172 Commission, franchise and other revenue — — — — 3,198 3,198 Total revenue $ 1,361,541 $ 72,532 $ — $ 70,099 $ 3,198 $ 1,507,370 Gross profit (1) $ 427,945 $ 18,218 $ — $ 13,557 $ — $ 459,720 (1) |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 6 Months Ended |
Aug. 03, 2019 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy | Basis of Presentation- The accompanying unaudited, condensed consolidated financial statements have been prepared by management in accordance with accounting principles generally accepted in the United States ("GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, we do not include all of the information and footnotes required by GAAP for complete financial statements. The accompanying financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. All such adjustments are of a normal recurring nature. The condensed consolidated financial position, results of operations and cash flows for these interim periods are not necessarily indicative of the results that may be expected in future periods. The balance sheet at February 2, 2019 has been derived from the audited financial statements at that date. The financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in our Annual Report on Form 10-K for the fiscal year ended February 2, 2019 , filed with the U.S. Securities and Exchange Commission (the "SEC") on March 26, 2019. |
Fiscal Period, Policy | Fiscal Year- Our fiscal year ends on the Saturday nearest to January 31. References to a fiscal year refer to the calendar year in which the fiscal year begins. |
Consolidation, Variable Interest Entity, Policy [Policy Text Block] | Variable Interest Entities- We have certain joint ventures ("JVs") where each joint venture licenses brands and contracts with Camuto Group to provide design, buying and sourcing services. Under the JVs, Camuto Group is responsible for managing all aspects of the brands and the JVs pay royalties, commissions, or consulting fees to the other parties. We are responsible for providing all funding to support the working capital needs of the JVs. As a result, we have determined that we are the primary beneficiary of the JVs and consolidate the JVs within our financial statements. Assets and liabilities of the JVs in the aggregate are immaterial. At the end of the three months ended August 3, 2019 , we terminated two JVs along with related licensing and design, buying and sourcing arrangements. |
Business Acquisition, Integration, Restructuring and Other Related Costs [Text Block] | Integration and Restructuring Costs- During the six months ended August 3, 2019 , we incurred integration and restructuring costs related to our prior year acquisition activity, which consisted primarily of $3.6 million in severance, a $6.1 million termination fee for terminating two JVs, and $2.4 million of professional fees and other integration costs. During the six months ended August 4, 2018 , we incurred restructuring costs of $2.7 million in severance, primarily related to changes to our store staffing model. These costs are included in operating expenses in the condensed consolidated statements of operations. As of August 3, 2019 and August 4, 2018 , we had $4.6 million and $1.6 million , respectively, of severance liability included in accrued expenses on the condensed consolidated balance sheets. |
Consolidation, Policy | Principles of Consolidation- The condensed consolidated financial statements include the accounts of Designer Brands Inc. and its subsidiaries, including the JVs. All intercompany accounts and transactions have been eliminated in consolidation. All amounts are in United States dollars ("USD"), unless otherwise noted. |
Use of Estimates, Policy | Use of Estimates- The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the reporting period. Significant estimates are required as a part of sales returns allowances, customer allowances and discounts, gift card breakage income, deferred revenue associated with loyalty programs, valuation of inventories, depreciation and amortization, impairments of long-lived assets, intangibles and goodwill, lease accounting, legal reserves, foreign tax contingent liabilities, income taxes, self-insurance reserves, and valuations used to account for acquisitions. Although these estimates are based on management's knowledge of current events and actions it may undertake in the future, actual results could differ from these estimates. |
Income Tax, Policy | Income Taxes- Our effective tax rate changed from 203.3% for the six months ended August 4, 2018 to 27.9% for the six months ended August 3, 2019 |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy | Cash, Cash Equivalents, and Restricted Cash - Cash and cash equivalents represent cash, money market funds and credit card receivables that generally settle within three days. Restricted cash represented cash that was restricted as to withdrawal or usage and consisted of a mandatory cash deposit for certain outstanding letters of credit. |
Fair Value Measurement, Policy | Fair Value- Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities recorded at fair value are categorized using defined hierarchical levels related to the subjectivity associated with the inputs to fair value measurements as follows: • Level 1 - Quoted prices in active markets for identical assets or liabilities. • Level 2 - Quoted prices for similar assets or liabilities in active markets or inputs that are observable. • Level 3 - Unobservable inputs in which little or no market activity exists. We measure available-for-sale investments at fair value on a recurring basis. These investments are measured using a market-based approach using inputs such as prices of similar assets in active markets (categorized as Level 2). The carrying value of cash and cash equivalents, accounts receivables and accounts payables approximated their fair values due to their short-term nature. |
Reclassification, Policy | Prior Period Reclassifications- Certain prior period reclassifications were made to conform to the current period presentation. Franchise costs was reclassified to operating expenses, and accounts payable to related parties was reclassified to accounts payable. |
New Accounting Pronouncements, Policy | Adoption of ASU 2016-02, Leases- During the first quarter of fiscal 2019 , we adopted the new accounting standard for leases, Accounting Standards Update ("ASU") 2016-02 and the related amendments. We elected to initially apply ASU 2016-02 as of February 3, 2019 , with the recognition of $1.0 billion of lease assets and $1.1 billion of lease liabilities and a cumulative-effect adjustment that decreased retained earnings by $9.6 million for transition impairments related to previously impaired leased locations. Periods prior to February 3, 2019 were not restated. Upon transition to ASU 2016-02, we recognized lease liabilities based on the present value of the remaining future fixed lease commitments, net of outstanding tenant allowance receivables, with corresponding lease assets. Amounts for prepaid expenses, deferred rent, deferred construction and tenant allowances, the accrual for lease obligations, and favorable and unfavorable leasehold interests were netted against the lease assets. At transition, we elected the package of practical expedients, which allows us to carry forward the historical lease classification and not reassess whether any expired or existing contracts are leases or contain leases. We did not elect the use of hindsight to determine the term of our leases at transition. A lease liability for new leases is recorded based on the present value of future fixed lease commitments with a corresponding lease asset. For leases classified as operating leases, we recognize a single lease cost on a straight-line basis based on the combined amortization of the lease liability and the lease asset. Other leases will be accounted for as finance arrangements. For real estate leases, we are generally required to pay base rent, real estate taxes, and insurance, which are considered lease components, and maintenance, which is a non-lease component. As provided for under ASU 2016-02, we have elected to not separate non-lease payment components from the associated lease component for all new real estate leases. We determine the discount rate for each lease by estimating the rate that we would be required to pay on a secured borrowing for an amount equal to the lease payments over the lease term. Prior to the adoption of ASU 2016-02, we recognized rent expense on a straight-line basis over the noncancelable terms of the lease. For leases with fixed increases of the minimum rentals during the noncancelable term, we recorded the difference between the amounts charged to expense and the rent paid as deferred rent and amortized such deferred rent upon the delivery of the lease location by the lessor. In addition, cash allowances received from landlords were deferred and amortized on a straight-line basis over the noncancelable terms of the lease as a reduction of rent expense. Deferred rent and construction and tenant allowances are included in non-current liabilities on the condensed consolidated balance sheets for periods prior to February 3, 2019 . Also, we recorded reserves for leased spaces that were abandoned due to closure. Using a credit-adjusted risk-free rate to calculate the present value of the liability, we estimated future lease obligations based on remaining fixed lease payments, estimated or actual sublease income, and any other relevant factors. Adoption of ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software- Also during the first quarter of fiscal 2019 , we early adopted ASU 2018-15 on a prospective basis, which aligned the requirements for capitalizing implementation costs incurred in a cloud computing arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or acquire internal-use software. The adoption of ASU 2018-15 did not have a material impact on our condensed consolidated financial statements. |
Revenue from Contract with Customer [Policy Text Block] | Deferred Revenue Liabilities- |
Earnings Per Share, Policy | |
Stockholders' Equity, Policy | Shares- Our Class A common shares are listed for trading under the ticker symbol "DBI" on the New York Stock Exchange. There is currently no public market for the Company's Class B common shares, but the Class B common shares can be exchanged for the Company's Class A common shares at the election of the holder on a share for share basis. Holders of Class A common shares are entitled to one vote per share and holders of Class B common shares are entitled to eight |
Repurchase and Resale Agreements Policy | Share Repurchases- On August 17, 2017 , the Board of Directors authorized the repurchase of an additional $500 million of Class A common shares under our share repurchase program, which was added to the $33.5 million remaining from the previous authorization. During the six months ended August 3, 2019 , we repurchased 6.1 million Class A common shares at a cost of $125.0 million , with $351.6 million of Class A common shares that remain authorized under the program as of August 3, 2019 . During the six months ended August 4, 2018 , we did not repurchase any Class A common shares. The share repurchase program may be suspended, modified or discontinued at any time, and we have no obligation to repurchase any amount of our common shares under the program. Shares will be repurchased in the open market at times and in amounts considered appropriate based on price and market conditions. |
Segment Reporting | Our three |
Significant Accounting Polici_3
Significant Accounting Policies (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Accounting Policies [Abstract] | |
Reconciliation of Cash and Cash Equivalents and Restricted Cash | The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statements of cash flows: (in thousands) August 3, 2019 February 2, 2019 August 4, 2018 Cash and cash equivalents $ 51,762 $ 99,369 $ 215,996 Restricted cash, included in prepaid expenses and other current assets — 1,199 — Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows $ 51,762 $ 100,568 $ 215,996 |
Acquisitions and Equity Metho_2
Acquisitions and Equity Method Investment (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Business Acquisition [Line Items] | |
Equity Method Investments | Activity related to our equity investment in ABG-Camuto was as follows: (in thousands) Six Months Ended August 3, 2019 Balance at beginning of period $ 58,125 Share of net earnings 4,692 Distributions received (7,784 ) Balance at end of period $ 55,033 |
Business Acquisition, Pro Forma Information | The following table provides the supplemental pro forma total revenue and net loss of the combined entity had the acquisition dates of TSL and Camuto Group and the investment in ABG-Camuto been the first day of our fiscal 2017: (in thousands) Three months ended August 4, 2018 Six months ended August 4, 2018 Total revenue $ 886,780 $ 1,755,210 Net loss $ (45,722 ) $ (33,131 ) |
Canada Retail [Member] | |
Business Acquisition [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The purchase price and the allocation of the total consideration to the fair values of the assets and liabilities acquired was finalized as of February 2, 2019 and consisted of the following (in USD): (in thousands) Final Purchase Price and Allocation Purchase price: Cash consideration, net of cash acquired $ 28,152 Replacement stock-based awards attributable to pre-acquisition services 196 Fair value of previously held assets 92,242 $ 120,590 Fair value of assets and liabilities acquired: Inventories $ 66,072 Other current assets 3,687 Property and equipment 41,008 Goodwill 43,022 Intangible assets 20,689 Accounts payable and accrued expenses (33,196 ) Non-current liabilities (20,692 ) $ 120,590 |
Camuto LLC | |
Business Acquisition [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the preliminary and revised purchase price and the allocation of the total consideration to the fair values of the assets and liabilities acquired: (in thousands) Preliminary Purchase Price and Allocation as of November 5, 2018 Measurement Period Adjustments Revised Purchase Price and Allocation as of August 3, 2019 Purchase price - Cash consideration, net of cash acquired $ 171,251 $ — $ 171,251 Fair value of assets and liabilities acquired: Accounts receivable $ 83,939 $ 3,980 $ 87,919 Inventories 74,499 (758 ) 73,741 Other current assets 7,197 1,045 8,242 Property and equipment 43,906 960 44,866 Goodwill 63,614 26,767 90,381 Intangible asset 27,000 (21,700 ) 5,300 Other assets 13,351 — 13,351 Accounts payable and other liabilities (122,811 ) (2,195 ) (125,006 ) Non-current liabilities (19,444 ) (8,099 ) (27,543 ) $ 171,251 $ — $ 171,251 |
Revenue (Tables)
Revenue (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue | The following table presents our total revenue disaggregated by segments: Three months ended Six months ended (in thousands) August 3, 2019 August 4, 2018 August 3, 2019 August 4, 2018 Segment net sales: U.S. Retail $ 677,920 $ 691,757 $ 1,369,760 $ 1,361,541 Canada Retail 63,306 72,532 115,122 72,532 Brand Portfolio 95,422 — 196,289 — Other 29,480 29,446 65,087 70,099 Total net sales 866,128 793,735 1,746,258 1,504,172 Commission, franchise and other revenue 11,771 1,533 20,676 3,198 877,899 795,268 1,766,934 1,507,370 Elimination of intersegment revenue (17,701 ) — (28,221 ) — Total revenue $ 860,198 $ 795,268 $ 1,738,713 $ 1,507,370 The following table presents total revenue by product and service category: Three months ended Six months ended (in thousands) August 3, 2019 August 4, 2018 August 3, 2019 August 4, 2018 Net sales: U.S. Retail segment: Women's footwear $ 458,390 $ 467,337 $ 940,511 $ 936,621 Men's footwear 140,895 151,573 269,884 284,732 Accessories, kids and other 78,635 72,847 159,365 140,188 677,920 691,757 1,369,760 1,361,541 Canada Retail segment: Women's footwear 35,533 42,067 64,159 42,067 Men's footwear 16,432 19,455 29,440 19,455 Accessories, kids and other 11,341 11,010 21,523 11,010 63,306 72,532 115,122 72,532 Brand Portfolio segment: Wholesale 88,577 — 180,331 — Direct-to-consumer 6,845 — 15,958 — 95,422 — 196,289 — Other 29,480 29,446 65,087 70,099 Total net sales 866,128 793,735 1,746,258 1,504,172 Commission, franchise and other revenue 11,771 1,533 20,676 3,198 877,899 795,268 1,766,934 1,507,370 Elimination of intersegment revenue (17,701 ) — (28,221 ) — Total revenue $ 860,198 $ 795,268 $ 1,738,713 $ 1,507,370 |
Deferred Revenue | The following table presents the changes and total balances for gift cards and our loyalty programs: Three months ended Six months ended (in thousands) August 3, 2019 August 4, 2018 August 3, 2019 August 4, 2018 Gift cards: Beginning of period $ 30,066 $ 28,151 $ 34,998 $ 32,792 Gift cards redeemed and breakage recognized to net sales (21,843 ) (21,761 ) (44,098 ) (44,034 ) Gift cards issued 20,054 20,401 37,377 38,033 End of period $ 28,277 $ 26,791 $ 28,277 $ 26,791 Loyalty programs: Beginning of period $ 16,153 $ 22,111 $ 16,151 $ 21,282 Loyalty certificates redeemed and expired and other adjustments recognized to net sales (9,507 ) (16,750 ) (18,828 ) (23,385 ) Deferred revenue for loyalty points issued 9,388 11,425 18,711 18,889 End of period $ 16,034 $ 16,786 $ 16,034 $ 16,786 |
Earnings (Loss) Per Share (Tabl
Earnings (Loss) Per Share (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Earnings Per Share [Abstract] | |
Reconciliation of the Number of Shares Used in the Calculation of Diluted Earnings per Share | The following is a reconciliation of the number of shares used in the calculation of earnings (loss) per share: Three months ended Six months ended (in thousands) August 3, 2019 August 4, 2018 August 3, 2019 August 4, 2018 Weighted average basic shares outstanding 73,529 80,265 75,267 80,187 Dilutive effect of stock-based compensation awards 787 — 1,014 — Weighted average diluted shares outstanding 74,316 80,265 76,281 80,187 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Share-based Payment Arrangement [Abstract] | |
Schedule of Share-based Compensation Expense | Stock-based compensation expense consisted of the following: Three months ended Six months ended (in thousands) August 3, 2019 August 4, 2018 August 3, 2019 August 4, 2018 Stock options $ 563 $ 1,343 $ 1,386 $ 3,138 Restricted and director stock units 4,798 3,841 8,345 6,560 $ 5,361 $ 5,184 $ 9,731 $ 9,698 |
Stock Option Plan Activity | The following table summarizes the stock-based compensation award activity for the six months ended August 3, 2019 : Number of shares (in thousands) Stock Options Time-Based RSUs Performance-Based RSUs Outstanding - beginning of period 4,001 989 596 Granted — 841 358 Exercised / vested (99 ) (111 ) (97 ) Forfeited / expired (38 ) (56 ) — Outstanding - end of period 3,864 1,663 857 |
Shareholders' Equity (Tables)
Shareholders' Equity (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Schedule of Stock by Class | The following table provides additional information for our common shares: August 3, 2019 February 2, 2019 August 4, 2018 (in thousands) Class A Class B Class A Class B Class A Class B Authorized shares 250,000 100,000 250,000 100,000 250,000 100,000 Issued shares 86,080 7,733 85,763 7,733 85,652 7,733 Outstanding shares 64,911 7,733 70,672 7,733 72,561 7,733 Treasury shares 21,169 — 15,091 — 13,091 — |
Schedule of Accumulated Other Comprehensive Income (Loss) | Changes for the balances of each component of accumulated other comprehensive loss were as follows (all amounts are net of tax): Three months ended August 3, 2019 August 4, 2018 (in thousands) Foreign Currency Translation Available-for-Sale Securities Total Foreign Currency Translation Available-for-Sale Securities Total Accumulated other comprehensive loss - beginning of period $ (3,042 ) $ (224 ) $ (3,266 ) $ (12,218 ) $ (980 ) $ (13,198 ) Other comprehensive income (loss) before reclassifications 461 196 657 (1,365 ) 27 (1,338 ) Amounts reclassified to non-operating income (expenses), net — 23 23 12,218 42 12,260 Other comprehensive income 461 219 680 10,853 69 10,922 Accumulated other comprehensive loss - end of period $ (2,581 ) $ (5 ) $ (2,586 ) $ (1,365 ) $ (911 ) $ (2,276 ) Six months ended August 3, 2019 August 4, 2018 (in thousands) Foreign Currency Translation Available-for-Sale Securities Total Foreign Currency Translation Available-for-Sale Securities Total Accumulated other comprehensive loss - beginning of period $ (2,328 ) $ (378 ) $ (2,706 ) $ (9,278 ) $ (796 ) $ (10,074 ) Other comprehensive income (loss) before reclassifications (253 ) 438 185 (6,050 ) (317 ) (6,367 ) Amounts reclassified to non-operating expenses, net — (65 ) (65 ) 13,963 202 14,165 Other comprehensive income (loss) (253 ) 373 120 7,913 (115 ) 7,798 Accumulated other comprehensive loss - end of period $ (2,581 ) $ (5 ) $ (2,586 ) $ (1,365 ) $ (911 ) $ (2,276 ) |
Accounts Receivable (Tables)
Accounts Receivable (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Accounts Receivable [Abstract] | |
Schedule of Accounts Receivable, Net | Accounts receivable, net, consisted of the following: (in thousands) August 3, 2019 February 2, 2019 August 4, 2018 Customer accounts receivables: Serviced by third-party provider with guaranteed payment $ 61,494 $ 47,599 $ — Serviced by third-party provider without guaranteed payment 495 280 — Serviced in-house 10,145 9,892 3,090 Construction and tenant allowance receivables due from landlords (1) — 4,034 5,201 Other receivables 14,460 8,004 8,968 Accounts receivable 86,594 69,809 17,259 Allowance for doubtful accounts (1,432 ) (939 ) — Accounts receivable, net $ 85,162 $ 68,870 $ 17,259 |
Investments (Tables)
Investments (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Investments [Abstract] | |
Available-for-sale Securities | Investments in available-for-sale securities consisted of the following: (in thousands) August 3, 2019 February 2, 2019 August 4, 2018 Carrying value of investments $ 25,510 $ 70,195 $ 73,978 Unrealized gains included in accumulated other comprehensive loss 18 44 10 Unrealized losses included in accumulated other comprehensive loss (24 ) (521 ) (869 ) Fair value $ 25,504 $ 69,718 $ 73,119 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment | Property and equipment consisted of the following: (in thousands) August 3, 2019 February 2, 2019 August 4, 2018 Land $ 1,110 $ 1,110 $ 1,110 Buildings 13,445 12,485 12,485 Building and leasehold improvements 440,425 437,116 425,651 Furniture, fixtures and equipment 489,805 487,494 451,040 Software 183,226 161,226 145,111 Construction in progress (1) 41,454 38,646 46,643 Total property and equipment 1,169,465 1,138,077 1,082,040 Accumulated depreciation and amortization (766,686 ) (728,501 ) (694,419 ) Property and equipment, net $ 402,779 $ 409,576 $ 387,621 (1) Construction in progress is comprised primarily of the construction of leasehold improvements and furniture and fixtures related to unopened stores and internal-use software under development. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of goodwill | Activity related to our goodwill was as follows: Six months ended August 3, 2019 August 4, 2018 (in thousands) Goodwill Accumulated Impairments Net Goodwill Accumulated Impairments Net Beginning of period by segment: U.S. Retail $ 25,899 $ — $ 25,899 $ 25,899 $ — $ 25,899 Canada Retail 42,048 (42,048 ) — — — — Brand Portfolio 63,614 — 63,614 — — — Other — — — 53,790 (53,790 ) — 131,561 (42,048 ) 89,513 79,689 (53,790 ) 25,899 Activity by segment: Canada Retail: Acquired TSL goodwill — — — 37,044 — 37,044 Impairment charges — — — — (36,240 ) (36,240 ) Currency translation adjustment (416 ) 416 — (580 ) (224 ) (804 ) Brand Portfolio - Purchase price and allocation adjustments 26,767 — 26,767 — — — Other - Eliminated goodwill from Ebuys exit — — — (53,790 ) 53,790 — 26,351 416 26,767 (17,326 ) 17,326 — End of period by segment: U.S. Retail 25,899 — 25,899 25,899 — 25,899 Canada Retail 41,632 (41,632 ) — 36,464 (36,464 ) — Brand Portfolio 90,381 — 90,381 — — — $ 157,912 $ (41,632 ) $ 116,280 $ 62,363 $ (36,464 ) $ 25,899 |
Schedule of finite-lived intangible assets | Intangible assets consisted of the following: (in thousands) Cost Accumulated Amortization Net August 3, 2019 Definite-lived customer relationships $ 6,661 $ (1,064 ) $ 5,597 Indefinite-lived trademarks and tradenames 15,515 — 15,515 $ 22,176 $ (1,064 ) $ 21,112 February 2, 2019 Definite-lived: Customer relationships $ 28,375 $ (1,010 ) $ 27,365 Favorable leasehold interests 3,513 (295 ) 3,218 Indefinite-lived trademarks and tradenames 15,546 — 15,546 $ 47,434 $ (1,305 ) $ 46,129 August 4, 2018 Definite-lived: Customer relationships $ 1,378 $ (114 ) $ 1,264 Favorable leasehold interests 3,522 (101 ) 3,421 Indefinite-lived trademarks and tradenames 15,600 — 15,600 $ 20,500 $ (215 ) $ 20,285 |
Schedule of indefinite-lived intangible assets | Intangible assets consisted of the following: (in thousands) Cost Accumulated Amortization Net August 3, 2019 Definite-lived customer relationships $ 6,661 $ (1,064 ) $ 5,597 Indefinite-lived trademarks and tradenames 15,515 — 15,515 $ 22,176 $ (1,064 ) $ 21,112 February 2, 2019 Definite-lived: Customer relationships $ 28,375 $ (1,010 ) $ 27,365 Favorable leasehold interests 3,513 (295 ) 3,218 Indefinite-lived trademarks and tradenames 15,546 — 15,546 $ 47,434 $ (1,305 ) $ 46,129 August 4, 2018 Definite-lived: Customer relationships $ 1,378 $ (114 ) $ 1,264 Favorable leasehold interests 3,522 (101 ) 3,421 Indefinite-lived trademarks and tradenames 15,600 — 15,600 $ 20,500 $ (215 ) $ 20,285 |
Accrued Expenses (Tables)
Accrued Expenses (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Payables and Accruals [Abstract] | |
Accrued Expenses | Accrued expenses consisted of the following: (in thousands) August 3, 2019 February 2, 2019 August 4, 2018 Gift cards and merchandise credits $ 28,277 $ 34,998 $ 26,791 Accrued compensation and related expenses 38,532 53,577 30,224 Accrued taxes 18,330 16,491 21,029 Loyalty programs deferred revenue 16,034 16,151 16,786 Sales returns 19,332 17,743 14,426 Customer allowances and discounts 9,306 13,094 — Other (1) 43,626 49,481 36,520 $ 173,437 $ 201,535 $ 145,776 (1) Other is comprised of various other accrued expenses that we expect will settle within one year of the applicable period. |
Other Non-Current Liabilities (
Other Non-Current Liabilities (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Other Liabilities Disclosure [Abstract] | |
Other Non-current Liabilities | Other non-current liabilities consisted of the following: (in thousands) August 3, 2019 February 2, 2019 August 4, 2018 Foreign tax contingent liabilities $ 14,807 $ 13,429 $ — Deferred tax liabilities 3,393 3,260 — Construction and tenant allowances (1) — 71,634 75,439 Deferred rent (1) — 35,934 35,694 Accrual for lease obligations (1) — 16,483 9,511 Unfavorable leasehold interests (1) — 5,779 7,000 Other (2) 20,390 18,528 22,672 $ 38,590 $ 165,047 $ 150,316 |
Schedule of Restructuring Reserve by Type of Cost | The following table presents the changes and total balances for the accrual for lease obligations: Six months ended (in thousands) August 3, 2019 August 4, 2018 Beginning of period $ 16,483 $ 6,511 Netted against lease assets upon transition to ASU 2016-02 (16,483 ) — Additions — 4,884 Lease obligation payments, net of sublease income — (2,004 ) Adjustments — 120 End of period $ — $ 9,511 |
Leases (Tables)
Leases (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Leases [Abstract] | |
Lease, Cost | Lease income and lease expense consisted of the following for the three and six months ended August 3, 2019 (after the adoption of ASU 2016-02) and August 4, 2018 (prior to the adoption of ASU 2016-02): Three months ended Six months ended (in thousands) August 3, 2019 August 4, 2018 August 3, 2019 August 4, 2018 Operating lease income $ 2,236 $ 1,149 $ 4,448 $ 2,297 Operating lease expense: Lease expense to unrelated parties $ 52,707 $ 51,263 $ 106,061 $ 96,748 Lease expense to related parties 2,371 2,303 4,713 4,591 Variable lease expense to unrelated parties 12,981 5,675 26,003 12,498 Variable lease expense to related parties 348 — 650 — $ 68,407 $ 59,241 $ 137,427 $ 113,837 August 3, 2019 Other operating lease information: Weighted-average remaining lease term 6.3 years Weighted-average discount rate 3.9 % |
Schedule of Future Fixed Minimum Lease Payments | As of August 3, 2019 , our future fixed minimum lease payments are as follows: (in thousands) Unrelated Parties Related Parties Total Remainder of fiscal 2019 $ 96,844 $ 3,937 $ 100,781 Fiscal 2020 233,961 9,364 243,325 Fiscal 2021 216,107 8,697 224,804 Fiscal 2022 182,432 7,418 189,850 Fiscal 2023 142,408 4,573 146,981 Future fiscal years thereafter 314,601 15,493 330,094 1,186,353 49,482 1,235,835 Less discounting impact on operating leases (138,305 ) (6,015 ) (144,320 ) Total operating lease liabilities 1,048,048 43,467 1,091,515 Less current operating lease liabilities (178,091 ) (7,878 ) (185,969 ) Non-current operating lease liabilities $ 869,957 $ 35,589 $ 905,546 |
Schedule of Future Minimum Rental Payments for Operating Leases | As of February 2, 2019 , future minimum lease payment requirements, excluding contingent rental payments, maintenance, insurance, real estate taxes, and the amortization of deferred rent and construction and tenant allowances, consisted of the following, as determined prior to the adoption of ASU 2016-02: (in thousands) Unrelated Parties Related Parties Total Fiscal 2019 $ 233,237 $ 9,425 $ 242,662 Fiscal 2020 227,001 9,364 236,365 Fiscal 2021 204,803 8,697 213,500 Fiscal 2022 170,030 6,518 176,548 Fiscal 2023 131,594 1,874 133,468 Future fiscal years thereafter 298,437 5,596 304,033 $ 1,265,102 $ 41,474 $ 1,306,576 |
Segment Reporting (Tables)
Segment Reporting (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Segment Reporting [Abstract] | |
Segment Information | The following provides certain financial data by segment reconciled to the condensed consolidated financial statements: (in thousands) U.S. Retail Canada Retail Brand Portfolio Other Corporate/Eliminations Total Three months ended August 3, 2019 External revenue: Net sales $ 677,920 $ 63,306 $ 78,934 $ 29,480 $ — $ 849,640 Commission, franchise and other revenue — — 6,312 — 4,246 10,558 Total revenue $ 677,920 $ 63,306 $ 85,246 $ 29,480 $ 4,246 $ 860,198 Intersegment revenue $ — $ — $ 17,701 $ — $ (17,701 ) $ — Gross profit (1) $ 208,056 $ 21,939 $ 19,261 $ 6,041 $ (436 ) $ 254,861 Income from equity investment in ABG-Camuto $ — $ — $ 2,464 $ — $ — $ 2,464 Three months ended August 4, 2018 Revenue: Net sales $ 691,757 $ 72,532 $ — $ 29,446 $ — $ 793,735 Commission, franchise and other revenue — — — — 1,533 1,533 Total revenue $ 691,757 $ 72,532 $ — $ 29,446 $ 1,533 $ 795,268 Gross profit (1) $ 229,601 $ 18,218 $ — $ 6,676 $ — $ 254,495 Six months ended August 3, 2019 External revenue: Net sales $ 1,369,760 $ 115,122 $ 169,663 $ 65,087 $ — $ 1,719,632 Commission, franchise and other revenue — — 9,609 — 9,472 19,081 Total revenue $ 1,369,760 $ 115,122 $ 179,272 $ 65,087 $ 9,472 $ 1,738,713 Intersegment revenue $ — $ — $ 28,221 $ — $ (28,221 ) $ — Gross profit (1) $ 417,947 $ 37,686 $ 41,255 $ 15,352 $ (1,343 ) $ 510,897 Income from equity investment in ABG-Camuto $ — $ — $ 4,692 $ — $ — $ 4,692 Six months ended August 4, 2018 Revenue: Net sales $ 1,361,541 $ 72,532 $ — $ 70,099 $ — $ 1,504,172 Commission, franchise and other revenue — — — — 3,198 3,198 Total revenue $ 1,361,541 $ 72,532 $ — $ 70,099 $ 3,198 $ 1,507,370 Gross profit (1) $ 427,945 $ 18,218 $ — $ 13,557 $ — $ 459,720 |
Significant Accounting Polici_4
Significant Accounting Policies (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
Aug. 03, 2019USD ($)joint_venture | Aug. 03, 2019USD ($)segment | Aug. 04, 2018USD ($) | Feb. 03, 2019USD ($) | Feb. 02, 2019USD ($) | Nov. 05, 2018 | Feb. 03, 2018USD ($) | |
Number of reportable segments | segment | 3 | ||||||
Number of joint ventures terminated | joint_venture | 2 | ||||||
Severance Costs | $ 3,600 | $ 2,700 | |||||
Loss on Contract Termination | 6,100 | ||||||
Business Combination, Integration Related Costs | 2,400 | ||||||
Supplemental Unemployment Benefits, Severance Benefits | $ 4,600 | $ 4,600 | $ 1,600 | ||||
Effective income tax rate reconciliation, percent | 27.90% | 203.30% | |||||
Cash and cash equivalents | 51,762 | $ 51,762 | $ 215,996 | $ 99,369 | |||
Restricted Cash and Cash Equivalents | 0 | 0 | 0 | 1,199 | |||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 51,762 | 51,762 | 215,996 | 100,568 | $ 175,932 | ||
Operating lease assets | 975,963 | 975,963 | $ 0 | $ 1,000,000 | 0 | ||
Business combination, recognized identifiable assets acquired and liabilities assumed, capital lease obligation | $ 1,091,515 | $ 1,091,515 | 1,100,000 | ||||
Lease assets | $ 9,600 | $ 9,556 | |||||
ABG-Camuto, LLC | |||||||
Noncontrolling Interest in joint ventures | 40.00% |
Acquisitions and Equity Metho_3
Acquisitions and Equity Method Investment (Details) $ in Thousands, $ in Millions | Nov. 05, 2018USD ($) | May 10, 2018USD ($) | May 10, 2018CAD ($) | Aug. 03, 2019USD ($) | Feb. 02, 2019USD ($) | Aug. 04, 2018USD ($) | Aug. 03, 2019USD ($) | Aug. 04, 2018USD ($) | Feb. 02, 2019USD ($) | Feb. 03, 2018USD ($) |
Business Acquisition [Line Items] | ||||||||||
Payments to acquire businesses, net of acquired cash | $ 0 | $ 28,152 | ||||||||
Foreign currency translation gain (loss) | $ 461 | $ (1,365) | (253) | (6,050) | ||||||
Off-market lease, unfavorable | 0 | $ (5,779) | (7,000) | 0 | (7,000) | $ (5,779) | ||||
Purchase price: | ||||||||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Consideration Transferred | 0 | |||||||||
Fair value of assets and liabilities acquired: | ||||||||||
Business Combination Provisional Information Initial Accounting Incomplete Adjustment, Accounts Receivable | 3,980 | |||||||||
Acquired TSL goodwill | 116,280 | 89,513 | 25,899 | 116,280 | 25,899 | 89,513 | $ 25,899 | |||
Impairment charges | 26,767 | 0 | ||||||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles | (21,700) | |||||||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Non-Current Assets, Other | 0 | |||||||||
Net sales | 860,198 | 795,268 | 1,738,713 | 1,507,370 | ||||||
Net income (loss) | 27,407 | (38,356) | 58,601 | (14,059) | ||||||
Impairment charges | 0 | 36,240 | 0 | 36,240 | ||||||
Lease exit non-cash charges | 0 | 3,910 | ||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contingent Liability | 12,700 | 12,700 | ||||||||
Equity investment in ABG-Camuto | 55,033 | 58,125 | 0 | 55,033 | 0 | 58,125 | ||||
Business Acquisition, Pro Forma Information [Abstract] | ||||||||||
Business acquisition, pro forma revenue | 886,780 | 1,755,210 | ||||||||
Business acquisition, pro forma net income (loss) | (45,722) | (33,131) | ||||||||
Canada Retail | ||||||||||
Fair value of assets and liabilities acquired: | ||||||||||
Acquired TSL goodwill | 0 | 0 | 0 | 0 | 0 | 0 | $ 0 | |||
Net sales | 72,500 | |||||||||
Product | ||||||||||
Fair value of assets and liabilities acquired: | ||||||||||
Net sales | 849,640 | 793,735 | 1,719,632 | 1,504,172 | ||||||
Product | Canada Retail | ||||||||||
Fair value of assets and liabilities acquired: | ||||||||||
Net sales | 63,306 | 115,122 | ||||||||
Non-current Liabilities | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Off-market lease, unfavorable | (7,600) | (7,600) | ||||||||
Operating Expense [Member] | Canada Retail | ||||||||||
Fair value of assets and liabilities acquired: | ||||||||||
Business combination, acquisition related costs | 3,100 | |||||||||
Operating Expense [Member] | Camuto LLC | ||||||||||
Fair value of assets and liabilities acquired: | ||||||||||
Business combination, acquisition related costs | 22,200 | |||||||||
ABG-Camuto, LLC | ||||||||||
Fair value of assets and liabilities acquired: | ||||||||||
Noncontrolling Interest in joint ventures | 40.00% | |||||||||
Business combination, acquisition of less than 100 percent, noncontrolling interest, fair value | $ 56,800 | |||||||||
Equity investment in ABG-Camuto | 55,033 | 58,125 | 55,033 | 58,125 | ||||||
Income (Loss) from Equity Method Investments, Net of Dividends or Distributions | 4,692 | |||||||||
Proceeds from Equity Method Investment, Distribution | (7,784) | |||||||||
Canada Retail [Member] | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Payments to acquire businesses, net of acquired cash | $ 28,200 | $ 36.2 | ||||||||
Cash acquired from acquisition | 6,600 | $ 8.5 | ||||||||
Other comprehensive income (loss), foreign currency transaction and translation adjustment, net of tax | (12,200) | |||||||||
Finite-lived intangible asset, off-market lease, favorable, gross | 3,600 | 3,600 | ||||||||
Purchase price: | ||||||||||
Cash consideration, net of cash acquired | 28,152 | |||||||||
Replacement stock-based awards attributable to pre-acquisition services | 196 | |||||||||
Fair value of previously held assets | 92,242 | |||||||||
Business combination, consideration transferred, including equity interest in acquiree held prior to combination | 120,590 | |||||||||
Fair value of assets and liabilities acquired: | ||||||||||
Inventories | 66,072 | |||||||||
Other current assets | 3,687 | |||||||||
Property and equipment | 41,008 | |||||||||
Acquired TSL goodwill | 43,022 | |||||||||
Intangible assets | 20,689 | |||||||||
Accounts payable and accrued expenses | (33,196) | |||||||||
Non-current liabilities | (20,692) | |||||||||
Fair value of assets and liabilities acquired | $ 120,590 | |||||||||
Canada Retail [Member] | Tradename | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Finite-lived trade names, gross | 15,700 | 15,700 | ||||||||
Canada Retail [Member] | Customer Relationships | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Finite-lived trade names, gross | 1,400 | 1,400 | ||||||||
Canada Retail [Member] | Canada Retail | ||||||||||
Fair value of assets and liabilities acquired: | ||||||||||
Net income (loss) | $ (38,500) | |||||||||
Canada Retail [Member] | Nonoperating Income (Expense) | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Foreign currency translation gain (loss) | $ (34,000) | |||||||||
Camuto LLC | ||||||||||
Business Acquisition [Line Items] | ||||||||||
Payments to acquire businesses, net of acquired cash | 171,300 | |||||||||
Cash acquired from acquisition | 9,700 | |||||||||
Purchase price: | ||||||||||
Cash consideration, net of cash acquired | 171,251 | 171,251 | ||||||||
Fair value of assets and liabilities acquired: | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | 87,919 | 83,939 | 87,919 | 83,939 | ||||||
Inventories | 73,741 | 74,499 | 73,741 | 74,499 | ||||||
Inventories | (758) | |||||||||
Other current assets | 8,242 | 7,197 | 8,242 | 7,197 | ||||||
Other current assets | 1,045 | |||||||||
Property and equipment | 44,866 | 43,906 | 44,866 | 43,906 | ||||||
Property and equipment | 960 | |||||||||
Acquired TSL goodwill | 90,381 | 63,614 | 90,381 | 63,614 | ||||||
Impairment charges | 26,767 | |||||||||
Intangible assets | 5,300 | 27,000 | 5,300 | 27,000 | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | 13,351 | 13,351 | 13,351 | 13,351 | ||||||
Accounts payable and accrued expenses | (125,006) | (122,811) | (125,006) | (122,811) | ||||||
Accounts payable and accrued expenses | (2,195) | |||||||||
Non-current liabilities | (27,543) | (19,444) | (27,543) | (19,444) | ||||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities | (8,099) | |||||||||
Fair value of assets and liabilities acquired | $ 171,251 | $ 171,251 | $ 171,251 | $ 171,251 | ||||||
Business Acquisition, Pro Forma Information [Abstract] | ||||||||||
Borrowings on the revolving line of credit used to fund acquisition | $ 160,000 |
Revenue (Details)
Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Aug. 03, 2019 | Aug. 04, 2018 | Aug. 03, 2019 | Aug. 04, 2018 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | $ 860,198 | $ 795,268 | $ 1,738,713 | $ 1,507,370 |
Gift cards, Beginning of period | 30,066 | 28,151 | 34,998 | 32,792 |
Gift cards, End of period | 28,277 | 26,791 | 28,277 | 26,791 |
Loyalty programs, Beginning of period | 16,153 | 22,111 | 16,151 | 21,282 |
Loyalty programs, End of period | 16,034 | 16,786 | 16,034 | 16,786 |
Loyalty certificates redeemed and expired and other adjustments recognized to net sales | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Increase (decrease) in customer loyalty program liability | (9,507) | (16,750) | (18,828) | (23,385) |
Deferred revenue for loyalty points issued | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Increase (decrease) in customer loyalty program liability | 9,388 | 11,425 | 18,711 | 18,889 |
Product | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 849,640 | 793,735 | 1,719,632 | 1,504,172 |
Commission, franchise and other revenue | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 10,558 | 1,533 | 19,081 | 3,198 |
Gift cards redeemed and breakage recognized to net sales | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Increase (decrease) in gift card liability | (21,843) | (21,761) | (44,098) | (44,034) |
Gift cards issued | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Increase (decrease) in gift card liability | 20,054 | 20,401 | 37,377 | 38,033 |
Canada Retail | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 72,500 | |||
Canada Retail | Product | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 63,306 | 115,122 | ||
Brand Portfolio | Product | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 78,934 | 169,663 | ||
Other | Product | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 29,480 | 65,087 | ||
Operating Segments | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 877,899 | 795,268 | 1,766,934 | 1,507,370 |
Operating Segments | Product | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 866,128 | 793,735 | 1,746,258 | 1,504,172 |
Operating Segments | Commission, franchise and other revenue | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 11,771 | 1,533 | 20,676 | 3,198 |
Operating Segments | U.S. Retail | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 677,920 | 691,757 | 1,369,760 | 1,361,541 |
Operating Segments | U.S. Retail | Product | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 677,920 | 691,757 | 1,369,760 | 1,361,541 |
Operating Segments | U.S. Retail | Women's footwear | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 458,390 | 467,337 | 940,511 | 936,621 |
Operating Segments | U.S. Retail | Men's footwear | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 140,895 | 151,573 | 269,884 | 284,732 |
Operating Segments | U.S. Retail | Accessories, kids and other | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 78,635 | 72,847 | 159,365 | 140,188 |
Operating Segments | Canada Retail | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 63,306 | 72,532 | 115,122 | 72,532 |
Operating Segments | Canada Retail | Product | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 63,306 | 72,532 | 115,122 | 72,532 |
Operating Segments | Canada Retail | Commission, franchise and other revenue | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Operating Segments | Canada Retail | Women's footwear | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 35,533 | 42,067 | 64,159 | 42,067 |
Operating Segments | Canada Retail | Men's footwear | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 16,432 | 19,455 | 29,440 | 19,455 |
Operating Segments | Canada Retail | Accessories, kids and other | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 11,341 | 11,010 | 21,523 | 11,010 |
Operating Segments | Brand Portfolio | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 85,246 | 0 | 179,272 | 0 |
Operating Segments | Brand Portfolio | Product | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 95,422 | 0 | 196,289 | 0 |
Operating Segments | Brand Portfolio | Commission, franchise and other revenue | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 6,312 | 0 | 9,609 | 0 |
Operating Segments | Brand Portfolio | Wholesale | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 88,577 | 0 | 180,331 | 0 |
Operating Segments | Brand Portfolio | Direct-to-consumer | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 6,845 | 0 | 15,958 | 0 |
Operating Segments | Other | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 29,480 | 29,446 | 65,087 | 70,099 |
Operating Segments | Other | Product | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 29,480 | 29,446 | 65,087 | 70,099 |
Operating Segments | Other | Commission, franchise and other revenue | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 0 | 0 | 0 | 0 |
Intersegment Eliminations | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | (17,701) | $ 0 | (28,221) | $ 0 |
Intersegment Eliminations | Canada Retail | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 0 | 0 | ||
Intersegment Eliminations | Brand Portfolio | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | 17,701 | 28,221 | ||
Intersegment Eliminations | Other | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Net sales | $ 0 | $ 0 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Aug. 03, 2019 | Aug. 04, 2018 | Aug. 03, 2019 | Aug. 04, 2018 | Feb. 02, 2019 | Nov. 05, 2018 | |
Schottenstein Affiliates [Abstract] | ||||||
Related party transaction outstanding common shares owned (in hundredths) | 15.00% | 15.00% | ||||
Related party transaction combined voting power of outstanding common shares (in hundredths) | 51.00% | 51.00% | ||||
Due to Related Parties, Current | $ 0.5 | $ 0.5 | $ 0.5 | $ 0.5 | $ 1 | |
Class A common shares | ||||||
Schottenstein Affiliates [Abstract] | ||||||
Related party transaction, number of shares owned by related party (in shares) | 3.4 | 3.4 | ||||
Class B common shares | ||||||
Schottenstein Affiliates [Abstract] | ||||||
Related party transaction, number of shares owned by related party (in shares) | 7.7 | 7.7 | ||||
Schottenstein Affiliates | ||||||
Schottenstein Affiliates [Abstract] | ||||||
Related party transaction, purchases from related party | $ 1.5 | $ 1.7 | $ 3.4 | $ 3.3 | ||
Royalty Arrangement [Member] | ||||||
Schottenstein Affiliates [Abstract] | ||||||
Due to Related Parties, Current | $ 2.4 | |||||
Royalty Expense | $ 3.6 | $ 9.3 | ||||
ABG-Camuto, LLC | ||||||
Schottenstein Affiliates [Abstract] | ||||||
Noncontrolling Interest in joint ventures | 40.00% |
Earnings (Loss) Per Share (Deta
Earnings (Loss) Per Share (Details) - shares shares in Thousands | 3 Months Ended | 6 Months Ended | ||
Aug. 03, 2019 | Aug. 04, 2018 | Aug. 03, 2019 | Aug. 04, 2018 | |
Earnings Per Share [Abstract] | ||||
Weighted average basic shares outstanding | 73,529 | 80,265 | 75,267 | 80,187 |
Dilutive effect of stock-based compensation awards | 787 | 0 | 1,014 | 0 |
Weighted average diluted shares outstanding | 74,316 | 80,265 | 76,281 | 80,187 |
Earnings (Loss) Per Share Anti-
Earnings (Loss) Per Share Anti-Dilutive Securities (Details) - shares shares in Millions | 3 Months Ended | 6 Months Ended | ||
Aug. 03, 2019 | Aug. 04, 2018 | Aug. 03, 2019 | Aug. 04, 2018 | |
Earnings Per Share [Abstract] | ||||
Securities outstanding not included in computation of diluted earnings per share | 4.6 | 3.2 | 2.9 | 3.2 |
Stock-Based Compensation - Expe
Stock-Based Compensation - Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Aug. 03, 2019 | Aug. 04, 2018 | Aug. 03, 2019 | Aug. 04, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based compensation expense | $ 5,361 | $ 5,184 | $ 9,731 | $ 9,698 |
Stock options | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based compensation expense | 563 | 1,343 | 1,386 | 3,138 |
Restricted and director stock units | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based compensation expense | $ 4,798 | $ 3,841 | $ 8,345 | $ 6,560 |
Stock-Based Compensation - Awar
Stock-Based Compensation - Award Activity (Details) - shares shares in Thousands | 3 Months Ended | 6 Months Ended | ||
Aug. 03, 2019 | Aug. 04, 2018 | Aug. 03, 2019 | Aug. 04, 2018 | |
Stock Option Activity [Roll Forward] | ||||
Exercised / vested | (145) | (91) | (317) | (267) |
Stock Options | ||||
Stock Option Activity [Roll Forward] | ||||
Outstanding - beginning of period | 4,001 | |||
Granted | 0 | |||
Exercised / vested | (99) | |||
Forfeited / expired | (38) | |||
Outstanding - end of period | 3,864 | 3,864 | ||
Time-Based RSUs | ||||
Stock Option Activity [Roll Forward] | ||||
Outstanding - beginning of period | 989 | |||
Granted | 841 | |||
Exercised / vested | (111) | |||
Forfeited / expired | (56) | |||
Outstanding - end of period | 1,663 | 1,663 | ||
Performance-Based RSUs | ||||
Stock Option Activity [Roll Forward] | ||||
Outstanding - beginning of period | 596 | |||
Granted | 358 | |||
Exercised / vested | (97) | |||
Forfeited / expired | 0 | |||
Outstanding - end of period | 857 | 857 |
Stock-Based Compensation - Addi
Stock-Based Compensation - Additional Information (Details) shares in Millions | Aug. 03, 2019shares |
Share-based Payment Arrangement [Abstract] | |
Number of shares available for future stock-based compensation grants | 2.7 |
Shareholders' Equity - Class of
Shareholders' Equity - Class of Stock (Details) | Oct. 04, 2019 | Sep. 20, 2019 | Aug. 29, 2019$ / shares | Aug. 03, 2019USD ($)voteshares | Aug. 03, 2019USD ($)voteshares | May 04, 2019shares | Feb. 02, 2019shares | Aug. 04, 2018shares | May 05, 2018shares | Feb. 03, 2018shares | Aug. 17, 2017USD ($) |
Class of Stock [Line Items] | |||||||||||
Preferred stock, shares authorized | 100,000,000 | 100,000,000 | |||||||||
Preferred stock, shares issued | 0 | 0 | |||||||||
Dividends payable, date declared | Aug. 29, 2019 | ||||||||||
Stock repurchase program, authorized amount | $ | $ 500,000,000 | ||||||||||
Stock repurchase program, remaining authorized repurchase amount | $ | $ 351,600,000 | $ 351,600,000 | $ 33,500,000 | ||||||||
Stock repurchased during period, shares | (6,100,000) | ||||||||||
Stock Repurchased During Period, Value | $ | $ 50,000,000 | $ 125,000,000 | |||||||||
Class A common shares | |||||||||||
Class of Stock [Line Items] | |||||||||||
Common Stock, Voting Rights, Votes per Share | vote | 1 | 1 | |||||||||
Common stock, shares authorized (in shares) | 250,000,000 | 250,000,000 | 250,000,000 | 250,000,000 | |||||||
Common stock, shares, issued (in shares) | 86,080,000 | 86,080,000 | 85,763,000 | 85,652,000 | |||||||
Common stock, shares, outstanding (in shares) | 64,911,000 | 64,911,000 | 67,434,000 | 70,672,000 | 72,561,000 | 72,470,000 | 72,294,000 | ||||
Stock repurchased during period, shares | (2,668,000) | (6,078,000) | |||||||||
Class B common shares | |||||||||||
Class of Stock [Line Items] | |||||||||||
Common Stock, Voting Rights, Votes per Share | vote | 8 | 8 | |||||||||
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 | 100,000,000 | 100,000,000 | |||||||
Common stock, shares, issued (in shares) | 7,733,000 | 7,733,000 | 7,733,000 | 7,733,000 | |||||||
Common stock, shares, outstanding (in shares) | 7,733,000 | 7,733,000 | 7,733,000 | 7,733,000 | 7,733,000 | 7,733,000 | 7,733,000 | ||||
Treasury shares | |||||||||||
Class of Stock [Line Items] | |||||||||||
Common stock, shares, outstanding (in shares) | 21,169,000 | 21,169,000 | 18,501,000 | 15,091,000 | 13,091,000 | 13,091,000 | 13,091,000 | ||||
Subsequent Event | |||||||||||
Class of Stock [Line Items] | |||||||||||
Dividends payable, date to be paid | Oct. 4, 2019 | ||||||||||
Dividends payable, date of record | Sep. 20, 2019 | ||||||||||
Subsequent Event | Class A common shares | |||||||||||
Class of Stock [Line Items] | |||||||||||
Common stock, dividends, per share, declared | $ / shares | $ 0.25 | ||||||||||
Subsequent Event | Class B common shares | |||||||||||
Class of Stock [Line Items] | |||||||||||
Common stock, dividends, per share, declared | $ / shares | $ 0.25 |
Shareholders' Equity - Schedule
Shareholders' Equity - Schedule of Accumulated Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Aug. 03, 2019 | Aug. 04, 2018 | Aug. 03, 2019 | Aug. 04, 2018 | |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
Accumulated other comprehensive loss - beginning of period | $ (3,266) | $ (13,198) | $ (2,706) | $ (10,074) |
Other comprehensive loss before reclassifications | 657 | (1,338) | 185 | (6,367) |
Amounts reclassified to non-operating expenses, net | 23 | 12,260 | (65) | 14,165 |
Other comprehensive income (loss) | 680 | 10,922 | 120 | 7,798 |
Accumulated other comprehensive loss - end of period | (2,586) | (2,276) | (2,586) | (2,276) |
Foreign Currency Translation | ||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
Accumulated other comprehensive loss - beginning of period | (3,042) | (12,218) | (2,328) | (9,278) |
Other comprehensive loss before reclassifications | 461 | (1,365) | (253) | (6,050) |
Amounts reclassified to non-operating expenses, net | 0 | 12,218 | 0 | 13,963 |
Other comprehensive income (loss) | 461 | 10,853 | (253) | 7,913 |
Accumulated other comprehensive loss - end of period | (2,581) | (1,365) | (2,581) | (1,365) |
Available-for-Sale Securities | ||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
Accumulated other comprehensive loss - beginning of period | (224) | (980) | (378) | (796) |
Other comprehensive loss before reclassifications | 196 | 27 | 438 | (317) |
Amounts reclassified to non-operating expenses, net | 23 | 42 | (65) | 202 |
Other comprehensive income (loss) | 219 | 69 | 373 | (115) |
Accumulated other comprehensive loss - end of period | $ (5) | $ (911) | $ (5) | $ (911) |
Accounts Receivable (Details)
Accounts Receivable (Details) - USD ($) $ in Thousands | Aug. 03, 2019 | Feb. 02, 2019 | Aug. 04, 2018 |
Accounts Receivable [Abstract] | |||
Accounts Receivable, Serviced by Third-Party Provider with Guaranteed Payment | $ 61,494 | $ 47,599 | $ 0 |
Accounts Receivable, Serviced by Third-Party Provider without Guaranteed Payment | 495 | 280 | 0 |
Accounts Receivable, Serviced In-House | 10,145 | 9,892 | 3,090 |
Lease Incentive Receivable | 0 | 4,034 | 5,201 |
Other Receivables | 14,460 | 8,004 | 8,968 |
Accounts Receivable, before Allowance for Credit Loss, Current | 86,594 | 69,809 | 17,259 |
Accounts Receivable, Allowance for Credit Loss | (1,432) | (939) | 0 |
Accounts Receivable, after Allowance for Credit Loss, Current | $ 85,162 | $ 68,870 | $ 17,259 |
Investments (Details)
Investments (Details) - USD ($) $ in Thousands | Aug. 03, 2019 | Feb. 02, 2019 | Aug. 04, 2018 |
Investments [Abstract] | |||
Carrying value of investments | $ 25,510 | $ 70,195 | $ 73,978 |
Unrealized gains included in accumulated other comprehensive loss | 18 | 44 | 10 |
Unrealized losses included in accumulated other comprehensive loss | (24) | (521) | (869) |
Fair value | $ 25,504 | $ 69,718 | $ 73,119 |
Property and Equipment (Details
Property and Equipment (Details) - USD ($) $ in Thousands | Aug. 03, 2019 | Feb. 02, 2019 | Aug. 04, 2018 |
Property and equipment [Abstract]: | |||
Land | $ 1,110 | $ 1,110 | $ 1,110 |
Buildings | 13,445 | 12,485 | 12,485 |
Building and leasehold improvements | 440,425 | 437,116 | 425,651 |
Furniture, fixtures and equipment | 489,805 | 487,494 | 451,040 |
Software | 183,226 | 161,226 | 145,111 |
Construction in progress | 41,454 | 38,646 | 46,643 |
Total property and equipment | 1,169,465 | 1,138,077 | 1,082,040 |
Accumulated depreciation and amortization | (766,686) | (728,501) | (694,419) |
Property and equipment, net | $ 402,779 | $ 409,576 | $ 387,621 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Aug. 03, 2019 | Aug. 03, 2019 | Aug. 04, 2018 | Aug. 04, 2018 | |
Goodwill [Roll Forward] | ||||
Goodwill, beginning of period | $ 131,561 | $ 79,689 | ||
Accumulated Impairments, beginning of period | (42,048) | (53,790) | ||
Net, end of period | 89,513 | 25,899 | ||
Activity by segment: | ||||
Goodwill, purchase price and allocation adjustments | 26,767 | 0 | ||
Goodwill, purchase price and allocation adjustments, accumulated impairments | 0 | 0 | ||
Goodwill, purchase price and allocation adjustments, net | 26,767 | 0 | ||
Activity during the period by segment | 26,351 | (17,326) | ||
Accumulated Impairments, activity during the period | 416 | 17,326 | ||
Goodwill, Period Increase (Decrease), Net | 26,767 | 0 | ||
Goodwill, end of period | $ 157,912 | 157,912 | 62,363 | |
Accumulated Impairments, end of period | (41,632) | (41,632) | (36,464) | |
Net, end of period | 116,280 | 89,513 | 25,899 | $ 25,899 |
U.S. Retail | ||||
Goodwill [Roll Forward] | ||||
Goodwill, beginning of period | 25,899 | 25,899 | ||
Accumulated Impairments, beginning of period | 0 | 0 | ||
Net, end of period | 25,899 | 25,899 | ||
Activity by segment: | ||||
Goodwill, end of period | 25,899 | 25,899 | 25,899 | |
Accumulated Impairments, end of period | 0 | 0 | 0 | |
Net, end of period | 25,899 | 25,899 | 25,899 | 25,899 |
Canada Retail | ||||
Goodwill [Line Items] | ||||
Goodwill, Acquired During Period | 0 | 37,044 | ||
Goodwill, Impairment Loss | 0 | 36,240 | ||
Goodwill [Roll Forward] | ||||
Goodwill, beginning of period | 42,048 | 0 | ||
Accumulated Impairments, beginning of period | (42,048) | 0 | ||
Net, end of period | 0 | 0 | ||
Activity by segment: | ||||
Currency translation adjustment | (416) | (580) | ||
Currency translation adjustment | 416 | (224) | ||
Goodwill, foreign currency translation gain (loss), net | 0 | (804) | ||
Goodwill, end of period | 41,632 | 41,632 | 36,464 | |
Accumulated Impairments, end of period | (41,632) | (41,632) | (36,464) | |
Net, end of period | 0 | 0 | 0 | 0 |
Brand Portfolio | ||||
Goodwill [Roll Forward] | ||||
Goodwill, beginning of period | 63,614 | 0 | ||
Accumulated Impairments, beginning of period | 0 | 0 | ||
Net, end of period | 63,614 | 0 | ||
Activity by segment: | ||||
Goodwill, end of period | 90,381 | 90,381 | 0 | |
Accumulated Impairments, end of period | 0 | 0 | 0 | |
Net, end of period | $ 90,381 | 63,614 | 0 | $ 0 |
Other | ||||
Goodwill [Roll Forward] | ||||
Goodwill, beginning of period | 0 | 53,790 | ||
Accumulated Impairments, beginning of period | 0 | (53,790) | ||
Net, end of period | 0 | 0 | ||
Activity by segment: | ||||
Other - Eliminated goodwill from Ebuys exit | 0 | (53,790) | ||
Other - Eliminated goodwill from Ebuys exit | 0 | 53,790 | ||
Net, end of period | $ 0 | $ 0 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Aug. 03, 2019 | Aug. 04, 2018 | Feb. 02, 2019 | |
Finite-lived Intangible Assets [Roll Forward] | |||
Finite-lived intangible assets, period increase (decrease) | $ (1,064) | $ (215) | $ (1,305) |
Indefinite-lived Intangible Assets [Roll Forward] | |||
Indefinite-lived trademarks | 15,515 | 15,600 | 15,546 |
Indefinite-lived intangible assets, period increase (decrease) | 0 | 0 | 0 |
Intangible assets, gross (excluding goodwill) | 22,176 | 20,500 | 47,434 |
Intangible assets | 21,112 | 20,285 | 46,129 |
Customer Relationships | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Finite-lived intangible assets, gross | 6,661 | ||
Finite-lived intangible assets, period increase (decrease) | (1,064) | ||
Finite-lived intangible assets, net | $ 5,597 | ||
Online retailer relationships | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Finite-lived intangible assets, gross | 1,378 | 28,375 | |
Finite-lived intangible assets, period increase (decrease) | (114) | (1,010) | |
Finite-lived intangible assets, net | 1,264 | 27,365 | |
Tradename | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Finite-lived intangible assets, gross | 3,522 | 3,513 | |
Finite-lived intangible assets, period increase (decrease) | (101) | (295) | |
Finite-lived intangible assets, net | $ 3,421 | $ 3,218 | |
Camuto LLC | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Remaining Amortization Period | 8 years | ||
Canada Retail | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Remaining Amortization Period | 3 years |
Accrued Expenses (Details)
Accrued Expenses (Details) - USD ($) $ in Thousands | Aug. 03, 2019 | May 04, 2019 | Feb. 02, 2019 | Aug. 04, 2018 | May 05, 2018 | Feb. 03, 2018 |
Payables and Accruals [Abstract] | ||||||
Gift cards and merchandise credits | $ 28,277 | $ 30,066 | $ 34,998 | $ 26,791 | $ 28,151 | $ 32,792 |
Accrued compensation and related expenses | 38,532 | 53,577 | 30,224 | |||
Accrued taxes | 18,330 | 16,491 | 21,029 | |||
Loyalty programs deferred revenue | 16,034 | $ 16,153 | 16,151 | 16,786 | $ 22,111 | $ 21,282 |
Sales returns | 19,332 | 17,743 | 14,426 | |||
Contract with Customer, Asset, Allowance for Credit Loss | 9,306 | 13,094 | 0 | |||
Other | 43,626 | 49,481 | 36,520 | |||
Total accrued expenses | $ 173,437 | $ 201,535 | $ 145,776 |
Other Non-Current Liabilities_2
Other Non-Current Liabilities (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Aug. 03, 2019 | Aug. 04, 2018 | Feb. 02, 2019 | |
Summary Of Noncurrent Liabilities [Line Items] | |||
Loss Contingency Accrual | $ 14,807 | $ 0 | $ 13,429 |
Deferred Tax Liabilities, Other | 3,393 | 0 | 3,260 |
Incentive from Lessor | 0 | 75,439 | 71,634 |
Deferred Rent Credit, Noncurrent | 0 | 35,694 | 35,934 |
Off-market Lease, Unfavorable | 0 | 7,000 | 5,779 |
Other Sundry Liabilities, Noncurrent | 20,390 | 22,672 | 18,528 |
Total non-current liabilities | 38,590 | 150,316 | $ 165,047 |
Restructuring Reserve [Roll Forward] | |||
Restructuring reserve, beginning balance | 16,483 | 6,511 | |
Restructuring reserve, ending balance | 0 | 9,511 | |
Netted against lease assets upon transition to ASU 2016-02 | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring Reserve, Period Increase (Decrease) | (16,483) | 0 | |
Additions | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring Reserve, Period Increase (Decrease) | 0 | 4,884 | |
Lease obligation payments, net of sublease income | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring Reserve, Period Increase (Decrease) | 0 | (2,004) | |
Adjustments | |||
Restructuring Reserve [Roll Forward] | |||
Restructuring Reserve, Period Increase (Decrease) | $ 0 | $ 120 |
Debt (Details)
Debt (Details) | Aug. 25, 2017 | Aug. 03, 2019USD ($) | Nov. 05, 2018USD ($) |
Debt Instrument [Line Items] | |||
Line of credit facility, initiation date | Aug. 25, 2017 | ||
Line of credit facility, expiration date | Aug. 25, 2022 | ||
Line of credit facility, maximum borrowing capacity | $ 400,000,000 | ||
Letter of credit sublimits | $ 50,000,000 | ||
Swing loan advances | 15,000,000 | ||
Foreign currency revolving loan | 75,000,000 | ||
Long-term line of credit | 235,000,000 | ||
Letters of credit outstanding, amount | 1,300,000 | ||
Line of credit facility, remaining borrowing capacity | $ 163,700,000 | ||
Maximum leverage ratio | 3.25 | 3.50 | |
Minimum fixed charge coverage ratio | 1.75 | ||
Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Line of Credit Facility, Interest Rate at Period End | 4.10% | ||
CAD Facility [Member] | |||
Debt Instrument [Line Items] | |||
Line of Credit Facility, Interest Rate at Period End | 1.70% |
Leases - Lease Income and Lease
Leases - Lease Income and Lease Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Aug. 03, 2019 | Aug. 04, 2018 | Aug. 03, 2019 | Aug. 04, 2018 | |
Lessee, Lease, Description [Line Items] | ||||
Operating lease income | $ 2,236 | $ 4,448 | ||
Operating lease income | $ 1,149 | $ 2,297 | ||
Operating lease expense: | ||||
Operating lease expense | $ 68,407 | $ 137,427 | ||
Operating Leases, Rent Expense, Net | 59,241 | 113,837 | ||
Other operating lease information: | ||||
Weighted-average remaining lease term | 6 years 3 months 18 days | 6 years 3 months 18 days | ||
Weighted-average discount rate | 3.90% | 3.90% | ||
Lease expense to unrelated parties | ||||
Operating lease expense: | ||||
Lease expense | $ 52,707 | $ 106,061 | ||
Operating Leases, Rent Expense, Minimum Rentals | 51,263 | 96,748 | ||
Variable Lease, Cost | 12,981 | 26,003 | ||
Operating Leases, Rent Expense, Contingent Rentals | 5,675 | 12,498 | ||
Lease expense to related parties | ||||
Operating lease expense: | ||||
Lease expense | 2,371 | 4,713 | ||
Operating Leases, Rent Expense, Minimum Rentals | 2,303 | 4,591 | ||
Variable Lease, Cost | $ 348 | $ 650 | ||
Operating Leases, Rent Expense, Contingent Rentals | $ 0 | $ 0 |
Leases - Future Fixed Minimum L
Leases - Future Fixed Minimum Lease Payments (Details) - USD ($) $ in Thousands | Aug. 03, 2019 | Feb. 03, 2019 | Feb. 02, 2019 | Aug. 04, 2018 |
Lessee, Lease, Description [Line Items] | ||||
Remainder of fiscal 2019 | $ 100,781 | |||
Fiscal 2020 | 243,325 | |||
Fiscal 2021 | 224,804 | |||
Fiscal 2022 | 189,850 | |||
Fiscal 2023 | 146,981 | |||
Future fiscal years thereafter | 330,094 | |||
Future fixed minimum lease payments | 1,235,835 | |||
Less discounting impact on operating leases | (144,320) | |||
Total operating lease liabilities | 1,091,515 | $ 1,100,000 | ||
Less current operating lease liabilities | (185,969) | $ 0 | $ 0 | |
Non-current operating lease liabilities | 905,546 | $ 0 | $ 0 | |
Lease expense to unrelated parties | ||||
Lessee, Lease, Description [Line Items] | ||||
Remainder of fiscal 2019 | 96,844 | |||
Fiscal 2020 | 233,961 | |||
Fiscal 2021 | 216,107 | |||
Fiscal 2022 | 182,432 | |||
Fiscal 2023 | 142,408 | |||
Future fiscal years thereafter | 314,601 | |||
Future fixed minimum lease payments | 1,186,353 | |||
Less discounting impact on operating leases | (138,305) | |||
Total operating lease liabilities | 1,048,048 | |||
Less current operating lease liabilities | (178,091) | |||
Non-current operating lease liabilities | 869,957 | |||
Lease expense to related parties | ||||
Lessee, Lease, Description [Line Items] | ||||
Remainder of fiscal 2019 | 3,937 | |||
Fiscal 2020 | 9,364 | |||
Fiscal 2021 | 8,697 | |||
Fiscal 2022 | 7,418 | |||
Fiscal 2023 | 4,573 | |||
Future fiscal years thereafter | 15,493 | |||
Future fixed minimum lease payments | 49,482 | |||
Less discounting impact on operating leases | (6,015) | |||
Total operating lease liabilities | 43,467 | |||
Less current operating lease liabilities | (7,878) | |||
Non-current operating lease liabilities | $ 35,589 |
Leases - Narrative (Details)
Leases - Narrative (Details) $ in Millions | Aug. 03, 2019USD ($)store |
Leases [Abstract] | |
Number of new stores | 4 |
Number of store relocations | 2 |
Operating lease liability, not yet commenced | $ | $ 11.4 |
Leases - Future Minimum Lease P
Leases - Future Minimum Lease Payment Requirements (Details) $ in Thousands | Feb. 02, 2019USD ($) |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |
Fiscal 2019 | $ 242,662 |
Fiscal 2020 | 236,365 |
Fiscal 2021 | 213,500 |
Fiscal 2022 | 176,548 |
Fiscal 2023 | 133,468 |
Future fiscal years thereafter | 304,033 |
Operating Leases, Future Minimum Payments Due | 1,306,576 |
Lease expense to unrelated parties | |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |
Fiscal 2019 | 233,237 |
Fiscal 2020 | 227,001 |
Fiscal 2021 | 204,803 |
Fiscal 2022 | 170,030 |
Fiscal 2023 | 131,594 |
Future fiscal years thereafter | 298,437 |
Operating Leases, Future Minimum Payments Due | 1,265,102 |
Lease expense to related parties | |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |
Fiscal 2019 | 9,425 |
Fiscal 2020 | 9,364 |
Fiscal 2021 | 8,697 |
Fiscal 2022 | 6,518 |
Fiscal 2023 | 1,874 |
Future fiscal years thereafter | 5,596 |
Operating Leases, Future Minimum Payments Due | $ 41,474 |
Commitments and Contingencies (
Commitments and Contingencies (Details) - USD ($) $ in Thousands | Aug. 03, 2019 | Feb. 02, 2019 | Aug. 04, 2018 |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Loss Contingency Accrual | $ 14,807 | $ 13,429 | $ 0 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Contingent Liability | 12,700 | ||
Guarantees, Fair Value Disclosure | 15,000 | ||
Minimum | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Loss Contingency Accrual | 14,800 | ||
Maximum | |||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |||
Loss Contingency Accrual | $ 30,000 |
Segment Reporting (Details)
Segment Reporting (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Aug. 03, 2019USD ($) | Aug. 04, 2018USD ($) | Aug. 03, 2019USD ($)segment | Aug. 04, 2018USD ($) | |
Segment Reporting Information [Line Items] | ||||
Number of reportable segments | segment | 3 | |||
Segment information [Abstract] | ||||
Net sales | $ 860,198 | $ 795,268 | $ 1,738,713 | $ 1,507,370 |
Gross profit(1) | 254,861 | 254,495 | 510,897 | 459,720 |
Income (loss) from equity investments | 4,692 | (1,310) | ||
Canada Retail | ||||
Segment information [Abstract] | ||||
Net sales | 72,500 | |||
Product | ||||
Segment information [Abstract] | ||||
Net sales | 849,640 | 793,735 | 1,719,632 | 1,504,172 |
Product | U.S. Retail | ||||
Segment information [Abstract] | ||||
Net sales | 677,920 | 1,369,760 | ||
Product | Canada Retail | ||||
Segment information [Abstract] | ||||
Net sales | 63,306 | 115,122 | ||
Product | Brand Portfolio | ||||
Segment information [Abstract] | ||||
Net sales | 78,934 | 169,663 | ||
Product | Other | ||||
Segment information [Abstract] | ||||
Net sales | 29,480 | 65,087 | ||
Commission, franchise and other revenue | ||||
Segment information [Abstract] | ||||
Net sales | 10,558 | 1,533 | 19,081 | 3,198 |
Operating Segments | ||||
Segment information [Abstract] | ||||
Net sales | 877,899 | 795,268 | 1,766,934 | 1,507,370 |
Operating Segments | U.S. Retail | ||||
Segment information [Abstract] | ||||
Net sales | 677,920 | 691,757 | 1,369,760 | 1,361,541 |
Gross profit(1) | 208,056 | 229,601 | 417,947 | 427,945 |
Operating Segments | Canada Retail | ||||
Segment information [Abstract] | ||||
Net sales | 63,306 | 72,532 | 115,122 | 72,532 |
Gross profit(1) | 21,939 | 18,218 | 37,686 | 18,218 |
Operating Segments | Brand Portfolio | ||||
Segment information [Abstract] | ||||
Net sales | 85,246 | 0 | 179,272 | 0 |
Gross profit(1) | 19,261 | 0 | 41,255 | 0 |
Operating Segments | Other | ||||
Segment information [Abstract] | ||||
Net sales | 29,480 | 29,446 | 65,087 | 70,099 |
Gross profit(1) | 6,041 | 6,676 | 15,352 | 13,557 |
Operating Segments | Product | ||||
Segment information [Abstract] | ||||
Net sales | 866,128 | 793,735 | 1,746,258 | 1,504,172 |
Operating Segments | Product | U.S. Retail | ||||
Segment information [Abstract] | ||||
Net sales | 691,757 | 1,361,541 | ||
Operating Segments | Product | Canada Retail | ||||
Segment information [Abstract] | ||||
Net sales | 63,306 | 72,532 | 115,122 | 72,532 |
Operating Segments | Product | Brand Portfolio | ||||
Segment information [Abstract] | ||||
Net sales | 95,422 | 0 | 196,289 | 0 |
Operating Segments | Product | Other | ||||
Segment information [Abstract] | ||||
Net sales | 29,480 | 29,446 | 65,087 | 70,099 |
Operating Segments | Commission, franchise and other revenue | ||||
Segment information [Abstract] | ||||
Net sales | 11,771 | 1,533 | 20,676 | 3,198 |
Operating Segments | Commission, franchise and other revenue | U.S. Retail | ||||
Segment information [Abstract] | ||||
Net sales | 0 | 0 | 0 | 0 |
Operating Segments | Commission, franchise and other revenue | Canada Retail | ||||
Segment information [Abstract] | ||||
Net sales | 0 | 0 | 0 | 0 |
Operating Segments | Commission, franchise and other revenue | Brand Portfolio | ||||
Segment information [Abstract] | ||||
Net sales | 6,312 | 0 | 9,609 | 0 |
Operating Segments | Commission, franchise and other revenue | Other | ||||
Segment information [Abstract] | ||||
Net sales | 0 | 0 | 0 | 0 |
Intersegment Eliminations | ||||
Segment information [Abstract] | ||||
Net sales | (17,701) | 0 | (28,221) | 0 |
Intersegment Eliminations | U.S. Retail | ||||
Segment information [Abstract] | ||||
Net sales | 0 | 0 | ||
Intersegment Eliminations | Canada Retail | ||||
Segment information [Abstract] | ||||
Net sales | 0 | 0 | ||
Intersegment Eliminations | Brand Portfolio | ||||
Segment information [Abstract] | ||||
Net sales | 17,701 | 28,221 | ||
Intersegment Eliminations | Other | ||||
Segment information [Abstract] | ||||
Net sales | 0 | 0 | ||
Corporate/Eliminations | ||||
Segment information [Abstract] | ||||
Net sales | 4,246 | 1,533 | 9,472 | 3,198 |
Gross profit(1) | (436) | 0 | (1,343) | 0 |
Corporate/Eliminations | Product | ||||
Segment information [Abstract] | ||||
Net sales | 0 | 0 | ||
Corporate/Eliminations | Commission, franchise and other revenue | ||||
Segment information [Abstract] | ||||
Net sales | 4,246 | 1,533 | 9,472 | 3,198 |
ABG-Camuto, LLC | ||||
Segment information [Abstract] | ||||
Income (loss) from equity investments | 2,464 | $ 0 | 4,692 | $ 0 |
ABG-Camuto, LLC | Operating Segments | U.S. Retail | ||||
Segment information [Abstract] | ||||
Income (loss) from equity investments | 0 | 0 | ||
ABG-Camuto, LLC | Operating Segments | Canada Retail | ||||
Segment information [Abstract] | ||||
Income (loss) from equity investments | 0 | 0 | ||
ABG-Camuto, LLC | Operating Segments | Brand Portfolio | ||||
Segment information [Abstract] | ||||
Income (loss) from equity investments | 2,464 | 4,692 | ||
ABG-Camuto, LLC | Operating Segments | Other | ||||
Segment information [Abstract] | ||||
Income (loss) from equity investments | 0 | 0 | ||
ABG-Camuto, LLC | Corporate/Eliminations | ||||
Segment information [Abstract] | ||||
Income (loss) from equity investments | $ 0 | $ 0 |