Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Aug. 02, 2014 | Sep. 05, 2014 | |
Document and Entity Information | ' | ' |
Entity Registrant Name | 'OXFORD INDUSTRIES INC | ' |
Entity Central Index Key | '0000075288 | ' |
Current Fiscal Year End Date | '--01-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Document Type | '10-Q | ' |
Document Period End Date | 2-Aug-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Amendment Flag | 'false | ' |
Entity Common Stock, Shares Outstanding | ' | 16,469,276 |
Entity Current Reporting Status | 'Yes | ' |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | Aug. 02, 2014 | Feb. 01, 2014 | Aug. 03, 2013 |
In Thousands, unless otherwise specified | |||
Current Assets: | ' | ' | ' |
Cash and cash equivalents | $6,416 | $8,483 | $9,705 |
Receivables, net | 57,097 | 75,277 | 62,082 |
Inventories, net | 141,335 | 143,712 | 101,920 |
Prepaid expenses, net | 23,379 | 23,095 | 21,853 |
Deferred tax assets | 22,111 | 20,465 | 20,803 |
Total current assets | 250,338 | 271,032 | 216,363 |
Property and equipment, net | 143,974 | 141,519 | 140,885 |
Intangible assets, net | 172,575 | 173,023 | 173,250 |
Goodwill | 17,444 | 17,399 | 17,919 |
Other non-current assets, net | 24,748 | 24,332 | 22,892 |
Total Assets | 609,079 | 627,305 | 571,309 |
Current Liabilities: | ' | ' | ' |
Accounts payable | 58,911 | 75,527 | 52,757 |
Accrued compensation | 24,093 | 18,412 | 18,133 |
Income tax payable | 4,787 | 6,584 | 3,923 |
Other accrued expenses and liabilities | 29,567 | 26,030 | 25,961 |
Contingent consideration | 12,363 | 2,500 | 2,500 |
Short-term debt | 1,963 | 3,993 | 5,885 |
Total current liabilities | 131,684 | 133,046 | 109,159 |
Long-term debt | 106,516 | 137,592 | 119,527 |
Non-current contingent consideration | 0 | 12,225 | 12,088 |
Other non-current liabilities | 51,831 | 51,520 | 48,607 |
Non-current deferred income taxes | 33,561 | 32,759 | 34,674 |
Commitments and contingencies | ' | ' | ' |
Shareholders’ Equity: | ' | ' | ' |
Common stock, $1.00 par value per share | 16,469 | 16,416 | 16,405 |
Additional paid-in capital | 116,266 | 114,021 | 113,040 |
Retained earnings | 176,453 | 153,344 | 143,407 |
Accumulated other comprehensive loss | -23,701 | -23,618 | -25,598 |
Total shareholders’ equity | 285,487 | 260,163 | 247,254 |
Total Liabilities and Shareholders’ Equity | $609,079 | $627,305 | $571,309 |
CONDENSED_CONSOLIDATED_BALANCE1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Aug. 02, 2014 | Feb. 01, 2014 | Aug. 03, 2013 |
Statement of Financial Position [Abstract] | ' | ' | ' |
Common stock, par value (in dollars per share) | $1 | $1 | $1 |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 | Aug. 02, 2014 | Aug. 03, 2013 |
Income Statement [Abstract] | ' | ' | ' | ' |
Net sales | $246,246 | $235,024 | $503,895 | $469,227 |
Cost of goods sold | 100,831 | 98,175 | 211,152 | 198,303 |
Gross profit | 145,415 | 136,849 | 292,743 | 270,924 |
SG&A | 122,397 | 112,424 | 245,628 | 225,449 |
Change in fair value of contingent consideration | 68 | 69 | 137 | 138 |
Royalties and other operating income | 3,875 | 3,356 | 8,316 | 8,436 |
Operating income | 26,825 | 27,712 | 55,294 | 53,773 |
Interest expense, net | 921 | 1,042 | 1,994 | 1,978 |
Net earnings before income taxes | 25,904 | 26,670 | 53,300 | 51,795 |
Income taxes | 10,835 | 10,864 | 23,262 | 22,366 |
Net earnings | $15,069 | $15,806 | $30,038 | $29,429 |
Net earnings per share: | ' | ' | ' | ' |
Basic (in dollars per share) | $0.92 | $0.96 | $1.83 | $1.78 |
Diluted (in dollars per share) | $0.92 | $0.96 | $1.83 | $1.78 |
Weighted average shares outstanding: | ' | ' | ' | ' |
Basic (in shares) | 16,425 | 16,394 | 16,421 | 16,491 |
Diluted (in shares) | 16,460 | 16,423 | 16,455 | 16,520 |
Dividends declared per common share (in dollars per share) | $0.21 | $0.18 | $0.42 | $0.36 |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 | Aug. 02, 2014 | Aug. 03, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net earnings | $15,069 | $15,806 | $30,038 | $29,429 |
Other comprehensive income (loss), net of taxes: | ' | ' | ' | ' |
Foreign currency translation gain (loss) | 15 | -701 | 109 | -1,362 |
Net unrealized gain (loss) on cash flow hedges | 149 | -13 | -192 | 349 |
Total other comprehensive income (loss), net of taxes | 164 | -714 | -83 | -1,013 |
Comprehensive income | $15,233 | $15,092 | $29,955 | $28,416 |
CONDENSED_CONSOLIDATED_STATEME2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 |
Cash Flows From Operating Activities: | ' | ' |
Net earnings | $30,038 | $29,429 |
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities: | ' | ' |
Depreciation | 17,180 | 15,004 |
Amortization of intangible assets | 1,260 | 754 |
Change in fair value of contingent consideration | 137 | 138 |
Amortization of deferred financing costs | 192 | 215 |
Equity compensation expense | 1,737 | 1,239 |
Deferred income taxes | -967 | 2,634 |
Excess tax benefits related to equity-based compensation | 0 | -6,100 |
Changes in working capital, net of acquisitions and dispositions: | ' | ' |
Receivables, net | 18,452 | 88 |
Inventories, net | 2,839 | 11,095 |
Prepaid expenses, net | -347 | -2,199 |
Current liabilities | -10,248 | -7,540 |
Other non-current assets, net | -568 | 376 |
Other non-current liabilities | 209 | 4,051 |
Net cash provided by operating activities | 59,914 | 49,184 |
Cash Flows From Investing Activities: | ' | ' |
Acquisitions, net of cash acquired | 0 | -17,888 |
Purchases of property and equipment | -19,576 | -26,020 |
Net cash used in investing activities | -19,576 | -43,908 |
Cash Flows From Financing Activities: | ' | ' |
Repayment of revolving credit arrangements | -191,056 | -154,216 |
Proceeds from revolving credit arrangements | 157,867 | 163,428 |
Payment of contingent consideration amounts earned | -2,500 | 0 |
Proceeds from issuance of common stock, including excess tax benefits | 564 | 6,943 |
Repurchase of equity awards for employee tax withholding liabilities | 0 | -13,200 |
Dividends paid | -6,931 | -5,988 |
Net cash used in financing activities | -42,056 | -3,033 |
Net change in cash and cash equivalents | -1,718 | 2,243 |
Effect of foreign currency translation on cash and cash equivalents | -349 | -55 |
Cash and cash equivalents at the beginning of year | 8,483 | 7,517 |
Cash and cash equivalents at the end of the period | 6,416 | 9,705 |
Supplemental disclosure of cash flow information: | ' | ' |
Cash paid for interest, net | 1,821 | 1,846 |
Cash paid for income taxes | $25,873 | $6,186 |
Basis_of_Presentation
Basis of Presentation: | 6 Months Ended |
Aug. 02, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Basis of Presentation: | ' |
Basis of Presentation: The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with GAAP for interim financial reporting and the instructions of Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. We believe the accompanying unaudited condensed consolidated financial statements reflect all normal, recurring adjustments that are necessary for a fair presentation of our financial position and results of operations as of the dates and for the periods presented. Results of operations for the interim periods presented are not necessarily indicative of results to be expected for our full fiscal year. The significant accounting policies applied during the interim periods presented are consistent with the significant accounting policies described in our Annual Report on Form 10-K for Fiscal 2013. | |
Certain prior year amounts in our condensed consolidated financial statements have been reclassified to conform to the Fiscal 2014 presentation. | |
In May 2014, the FASB issued revised guidance which provides a single, comprehensive accounting model for revenue arising from contracts with customers. This guidance supersedes most of the existing revenue recognition guidance, including industry-specific guidance. Under this model, revenue is recognized at an amount that a company expects to be entitled to upon transferring control of goods or services to a customer, as opposed to when risks and rewards transfer to a customer. The new guidance is effective for us beginning in our fiscal year 2017, and may be applied retrospectively to all prior periods presented or through a cumulative adjustment to the opening retained earnings balance in the year of adoption. We are in the process of evaluating the impact of the new guidance on our consolidated financial statements. |
Inventories
Inventories: | 6 Months Ended | |||||||||||
Aug. 02, 2014 | ||||||||||||
Inventory Disclosure [Abstract] | ' | |||||||||||
Inventories: | ' | |||||||||||
Inventories: The components of inventories as of the dates specified are summarized in the following table (in thousands): | ||||||||||||
August 2, | February 1, | August 3, | ||||||||||
2014 | 2014 | 2013 | ||||||||||
Finished goods | $ | 190,111 | $ | 187,689 | $ | 147,051 | ||||||
Work in process | 5,467 | 9,606 | 7,509 | |||||||||
Fabric, trim and supplies | 2,422 | 3,082 | 3,807 | |||||||||
LIFO reserve | (56,665 | ) | (56,665 | ) | (56,447 | ) | ||||||
Total | $ | 141,335 | $ | 143,712 | $ | 101,920 | ||||||
LIFO accounting adjustments, which we consider to include changes in the LIFO reserve as well as the impact of changes in inventory reserves related to lower of cost or market adjustments that do not exceed the LIFO reserve, were a credit of $0.2 million in the Second Quarter of Fiscal 2014, a charge of $0.3 million in the Second Quarter of Fiscal 2013, a credit of $0.0 million in the First Half of Fiscal 2014 and a charge of $0.3 million in the First Half of Fiscal 2013, respectively. |
Operating_Group_Information
Operating Group Information: | 6 Months Ended | |||||||||||||||
Aug. 02, 2014 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Operating Group Information: | ' | |||||||||||||||
Operating Group Information: Our business is primarily operated through four operating groups: Tommy Bahama, Lilly Pulitzer, Lanier Clothes and Ben Sherman, each of which is described in our Annual Report on Form 10-K for Fiscal 2013. We identify our operating groups based on the way our management organizes the components of our business for purposes of allocating resources and assessing performance. Our operating group structure reflects a brand-focused management approach, emphasizing operational coordination and resource allocation across the brand’s direct to consumer, wholesale and licensing operations. The tables below present certain information (in thousands) about our operating groups, as well as Corporate and Other, which is a reconciling category for reporting purposes. | ||||||||||||||||
Second Quarter Fiscal 2014 | Second Quarter Fiscal 2013 | First Half Fiscal 2014 | First Half Fiscal 2013 | |||||||||||||
Net sales | ||||||||||||||||
Tommy Bahama | $ | 157,789 | $ | 153,220 | $ | 316,148 | $ | 303,646 | ||||||||
Lilly Pulitzer | 46,568 | 38,164 | 96,939 | 77,613 | ||||||||||||
Lanier Clothes | 21,318 | 22,315 | 50,064 | 49,575 | ||||||||||||
Ben Sherman | 18,696 | 16,275 | 33,779 | 28,511 | ||||||||||||
Corporate and Other | 1,875 | 5,050 | 6,965 | 9,882 | ||||||||||||
Total net sales | $ | 246,246 | $ | 235,024 | $ | 503,895 | $ | 469,227 | ||||||||
Depreciation and amortization | ||||||||||||||||
Tommy Bahama | $ | 6,764 | $ | 6,330 | $ | 13,422 | $ | 11,480 | ||||||||
Lilly Pulitzer | 1,096 | 733 | 2,150 | 1,396 | ||||||||||||
Lanier Clothes | 67 | 93 | 134 | 196 | ||||||||||||
Ben Sherman | 750 | 761 | 1,476 | 1,486 | ||||||||||||
Corporate and Other | 627 | 615 | 1,258 | 1,200 | ||||||||||||
Total depreciation and amortization | $ | 9,304 | $ | 8,532 | $ | 18,440 | $ | 15,758 | ||||||||
Operating income (loss) | ||||||||||||||||
Tommy Bahama | $ | 21,758 | $ | 23,838 | $ | 41,620 | $ | 45,219 | ||||||||
Lilly Pulitzer | 11,177 | 9,555 | 25,977 | 20,588 | ||||||||||||
Lanier Clothes | 1,537 | 2,026 | 4,275 | 4,487 | ||||||||||||
Ben Sherman | (3,128 | ) | (3,841 | ) | (7,803 | ) | (8,665 | ) | ||||||||
Corporate and Other | (4,519 | ) | (3,866 | ) | (8,775 | ) | (7,856 | ) | ||||||||
Total operating income | $ | 26,825 | $ | 27,712 | $ | 55,294 | $ | 53,773 | ||||||||
Interest expense, net | 921 | 1,042 | 1,994 | 1,978 | ||||||||||||
Net earnings before income taxes | $ | 25,904 | $ | 26,670 | $ | 53,300 | $ | 51,795 | ||||||||
Income_Taxes
Income Taxes: | 6 Months Ended |
Aug. 02, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes: | ' |
Income Taxes: Income taxes reflects effective tax rates of 41.8%, 40.7%, 43.6% and 43.2% for the Second Quarter of Fiscal 2014, Second Quarter of Fiscal 2013, First Half of Fiscal 2014 and First Half of Fiscal 2013, respectively. The effective tax rate for each period was unfavorably impacted by our inability to recognize a tax benefit for losses in foreign jurisdictions. In the Second Quarter of Fiscal 2013 and First Half of Fiscal 2013, the unfavorable impact of the foreign losses on the effective tax rate was partially offset by a reduction in the enacted tax rate in the United Kingdom during the Second Quarter of Fiscal 2013 with no such reduction in the Second Quarter of Fiscal 2014 and First Half of Fiscal 2014. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Loss: | 6 Months Ended | |||||||||
Aug. 02, 2014 | ||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||||
Accumulated Other Comprehensive Loss: | ' | |||||||||
Accumulated Other Comprehensive Loss: The following tables detail the changes in our accumulated other comprehensive loss by component (in thousands), net of related income taxes, for the periods specified: | ||||||||||
Second Quarter Fiscal 2014 | Foreign | Net unrealized | Accumulated | |||||||
currency | gain (loss) on | other | ||||||||
translation | cash flow | comprehensive | ||||||||
gain (loss) | hedges | income (loss) | ||||||||
Beginning balance | $ | (23,189 | ) | $ | (676 | ) | $ | (23,865 | ) | |
Other comprehensive income (loss) before reclassifications | 15 | 141 | 156 | |||||||
Amounts reclassified from accumulated other comprehensive income (loss) for gain realized | — | 8 | 8 | |||||||
Total other comprehensive income, net of taxes | 15 | 149 | 164 | |||||||
Ending balance | $ | (23,174 | ) | $ | (527 | ) | $ | (23,701 | ) | |
Second Quarter Fiscal 2013 | Foreign | Net unrealized | Accumulated | |||||||
currency | gain (loss) on | other | ||||||||
translation | cash flow | comprehensive | ||||||||
gain (loss) | hedges | income (loss) | ||||||||
Beginning balance | $ | (24,647 | ) | $ | (237 | ) | $ | (24,884 | ) | |
Other comprehensive (loss) income before reclassifications | (701 | ) | 40 | (661 | ) | |||||
Amounts reclassified from accumulated other comprehensive income (loss) for gain realized | — | (53 | ) | (53 | ) | |||||
Total other comprehensive income (loss), net of taxes | (701 | ) | (13 | ) | (714 | ) | ||||
Ending balance | $ | (25,348 | ) | $ | (250 | ) | $ | (25,598 | ) | |
First Half Fiscal 2014 | Foreign | Net unrealized | Accumulated | |||||||
currency | gain (loss) on | other | ||||||||
translation | cash flow | comprehensive | ||||||||
gain (loss) | hedges | income (loss) | ||||||||
Beginning balance | $ | (23,283 | ) | $ | (335 | ) | $ | (23,618 | ) | |
Other comprehensive income (loss) before reclassifications | 109 | (184 | ) | (75 | ) | |||||
Amounts reclassified from accumulated other comprehensive income (loss) for gain realized | — | (8 | ) | (8 | ) | |||||
Total other comprehensive (loss) income, net of taxes | 109 | (192 | ) | (83 | ) | |||||
Ending balance | $ | (23,174 | ) | $ | (527 | ) | $ | (23,701 | ) | |
First Half Fiscal 2013 | Foreign | Net unrealized | Accumulated | |||||||
currency | gain (loss) on | other | ||||||||
translation | cash flow | comprehensive | ||||||||
gain (loss) | hedges | income (loss) | ||||||||
Beginning balance | $ | (23,986 | ) | $ | (599 | ) | $ | (24,585 | ) | |
Other comprehensive (loss) income before reclassifications | (1,362 | ) | 371 | (991 | ) | |||||
Amounts reclassified from accumulated other comprehensive income (loss) for gain realized | — | (22 | ) | (22 | ) | |||||
Total other comprehensive (loss) income, net of taxes | (1,362 | ) | 349 | (1,013 | ) | |||||
Ending balance | $ | (25,348 | ) | $ | (250 | ) | $ | (25,598 | ) |
Inventories_Tables
Inventories: (Tables) | 6 Months Ended | |||||||||||
Aug. 02, 2014 | ||||||||||||
Inventory Disclosure [Abstract] | ' | |||||||||||
Summary of components of inventories | ' | |||||||||||
The components of inventories as of the dates specified are summarized in the following table (in thousands): | ||||||||||||
August 2, | February 1, | August 3, | ||||||||||
2014 | 2014 | 2013 | ||||||||||
Finished goods | $ | 190,111 | $ | 187,689 | $ | 147,051 | ||||||
Work in process | 5,467 | 9,606 | 7,509 | |||||||||
Fabric, trim and supplies | 2,422 | 3,082 | 3,807 | |||||||||
LIFO reserve | (56,665 | ) | (56,665 | ) | (56,447 | ) | ||||||
Total | $ | 141,335 | $ | 143,712 | $ | 101,920 | ||||||
Operating_Group_Information_Ta
Operating Group Information: (Tables) | 6 Months Ended | |||||||||||||||
Aug. 02, 2014 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Schedule of information pertaining to the operating groups | ' | |||||||||||||||
The tables below present certain information (in thousands) about our operating groups, as well as Corporate and Other, which is a reconciling category for reporting purposes. | ||||||||||||||||
Second Quarter Fiscal 2014 | Second Quarter Fiscal 2013 | First Half Fiscal 2014 | First Half Fiscal 2013 | |||||||||||||
Net sales | ||||||||||||||||
Tommy Bahama | $ | 157,789 | $ | 153,220 | $ | 316,148 | $ | 303,646 | ||||||||
Lilly Pulitzer | 46,568 | 38,164 | 96,939 | 77,613 | ||||||||||||
Lanier Clothes | 21,318 | 22,315 | 50,064 | 49,575 | ||||||||||||
Ben Sherman | 18,696 | 16,275 | 33,779 | 28,511 | ||||||||||||
Corporate and Other | 1,875 | 5,050 | 6,965 | 9,882 | ||||||||||||
Total net sales | $ | 246,246 | $ | 235,024 | $ | 503,895 | $ | 469,227 | ||||||||
Depreciation and amortization | ||||||||||||||||
Tommy Bahama | $ | 6,764 | $ | 6,330 | $ | 13,422 | $ | 11,480 | ||||||||
Lilly Pulitzer | 1,096 | 733 | 2,150 | 1,396 | ||||||||||||
Lanier Clothes | 67 | 93 | 134 | 196 | ||||||||||||
Ben Sherman | 750 | 761 | 1,476 | 1,486 | ||||||||||||
Corporate and Other | 627 | 615 | 1,258 | 1,200 | ||||||||||||
Total depreciation and amortization | $ | 9,304 | $ | 8,532 | $ | 18,440 | $ | 15,758 | ||||||||
Operating income (loss) | ||||||||||||||||
Tommy Bahama | $ | 21,758 | $ | 23,838 | $ | 41,620 | $ | 45,219 | ||||||||
Lilly Pulitzer | 11,177 | 9,555 | 25,977 | 20,588 | ||||||||||||
Lanier Clothes | 1,537 | 2,026 | 4,275 | 4,487 | ||||||||||||
Ben Sherman | (3,128 | ) | (3,841 | ) | (7,803 | ) | (8,665 | ) | ||||||||
Corporate and Other | (4,519 | ) | (3,866 | ) | (8,775 | ) | (7,856 | ) | ||||||||
Total operating income | $ | 26,825 | $ | 27,712 | $ | 55,294 | $ | 53,773 | ||||||||
Interest expense, net | 921 | 1,042 | 1,994 | 1,978 | ||||||||||||
Net earnings before income taxes | $ | 25,904 | $ | 26,670 | $ | 53,300 | $ | 51,795 | ||||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Loss: (Tables) | 6 Months Ended | |||||||||
Aug. 02, 2014 | ||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||||
Schedule of changes in the entity's accumulated other comprehensive loss by component, net of related income taxes | ' | |||||||||
The following tables detail the changes in our accumulated other comprehensive loss by component (in thousands), net of related income taxes, for the periods specified: | ||||||||||
Second Quarter Fiscal 2014 | Foreign | Net unrealized | Accumulated | |||||||
currency | gain (loss) on | other | ||||||||
translation | cash flow | comprehensive | ||||||||
gain (loss) | hedges | income (loss) | ||||||||
Beginning balance | $ | (23,189 | ) | $ | (676 | ) | $ | (23,865 | ) | |
Other comprehensive income (loss) before reclassifications | 15 | 141 | 156 | |||||||
Amounts reclassified from accumulated other comprehensive income (loss) for gain realized | — | 8 | 8 | |||||||
Total other comprehensive income, net of taxes | 15 | 149 | 164 | |||||||
Ending balance | $ | (23,174 | ) | $ | (527 | ) | $ | (23,701 | ) | |
Second Quarter Fiscal 2013 | Foreign | Net unrealized | Accumulated | |||||||
currency | gain (loss) on | other | ||||||||
translation | cash flow | comprehensive | ||||||||
gain (loss) | hedges | income (loss) | ||||||||
Beginning balance | $ | (24,647 | ) | $ | (237 | ) | $ | (24,884 | ) | |
Other comprehensive (loss) income before reclassifications | (701 | ) | 40 | (661 | ) | |||||
Amounts reclassified from accumulated other comprehensive income (loss) for gain realized | — | (53 | ) | (53 | ) | |||||
Total other comprehensive income (loss), net of taxes | (701 | ) | (13 | ) | (714 | ) | ||||
Ending balance | $ | (25,348 | ) | $ | (250 | ) | $ | (25,598 | ) | |
First Half Fiscal 2014 | Foreign | Net unrealized | Accumulated | |||||||
currency | gain (loss) on | other | ||||||||
translation | cash flow | comprehensive | ||||||||
gain (loss) | hedges | income (loss) | ||||||||
Beginning balance | $ | (23,283 | ) | $ | (335 | ) | $ | (23,618 | ) | |
Other comprehensive income (loss) before reclassifications | 109 | (184 | ) | (75 | ) | |||||
Amounts reclassified from accumulated other comprehensive income (loss) for gain realized | — | (8 | ) | (8 | ) | |||||
Total other comprehensive (loss) income, net of taxes | 109 | (192 | ) | (83 | ) | |||||
Ending balance | $ | (23,174 | ) | $ | (527 | ) | $ | (23,701 | ) | |
First Half Fiscal 2013 | Foreign | Net unrealized | Accumulated | |||||||
currency | gain (loss) on | other | ||||||||
translation | cash flow | comprehensive | ||||||||
gain (loss) | hedges | income (loss) | ||||||||
Beginning balance | $ | (23,986 | ) | $ | (599 | ) | $ | (24,585 | ) | |
Other comprehensive (loss) income before reclassifications | (1,362 | ) | 371 | (991 | ) | |||||
Amounts reclassified from accumulated other comprehensive income (loss) for gain realized | — | (22 | ) | (22 | ) | |||||
Total other comprehensive (loss) income, net of taxes | (1,362 | ) | 349 | (1,013 | ) | |||||
Ending balance | $ | (25,348 | ) | $ | (250 | ) | $ | (25,598 | ) |
Inventories_Details
Inventories: (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
Aug. 02, 2014 | Aug. 03, 2013 | Aug. 02, 2014 | Aug. 03, 2013 | Feb. 01, 2014 | |
Inventory Disclosure [Abstract] | ' | ' | ' | ' | ' |
Finished goods | $190,111,000 | $147,051,000 | $190,111,000 | $147,051,000 | $187,689,000 |
Work in process | 5,467,000 | 7,509,000 | 5,467,000 | 7,509,000 | 9,606,000 |
Fabric, trim and supplies | 2,422,000 | 3,807,000 | 2,422,000 | 3,807,000 | 3,082,000 |
LIFO reserve | -56,665,000 | -56,447,000 | -56,665,000 | -56,447,000 | -56,665,000 |
Total | 141,335,000 | 101,920,000 | 141,335,000 | 101,920,000 | 143,712,000 |
Charge (credit) for LIFO accounting adjustments | ($200,000) | $300,000 | $0 | $300,000 | ' |
Operating_Group_Information_De
Operating Group Information: (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 | Aug. 02, 2014 | Aug. 03, 2013 |
operatinggroup | ||||
Segment Reporting [Abstract] | ' | ' | ' | ' |
Number of operating groups | ' | ' | 4 | ' |
Operating group information | ' | ' | ' | ' |
Net sales | $246,246 | $235,024 | $503,895 | $469,227 |
Depreciation and amortization | 9,304 | 8,532 | 18,440 | 15,758 |
Operating income (loss) | 26,825 | 27,712 | 55,294 | 53,773 |
Interest expense, net | 921 | 1,042 | 1,994 | 1,978 |
Net earnings before income taxes | 25,904 | 26,670 | 53,300 | 51,795 |
Tommy Bahama | ' | ' | ' | ' |
Operating group information | ' | ' | ' | ' |
Net sales | 157,789 | 153,220 | 316,148 | 303,646 |
Depreciation and amortization | 6,764 | 6,330 | 13,422 | 11,480 |
Operating income (loss) | 21,758 | 23,838 | 41,620 | 45,219 |
Lilly Pulitzer | ' | ' | ' | ' |
Operating group information | ' | ' | ' | ' |
Net sales | 46,568 | 38,164 | 96,939 | 77,613 |
Depreciation and amortization | 1,096 | 733 | 2,150 | 1,396 |
Operating income (loss) | 11,177 | 9,555 | 25,977 | 20,588 |
Lanier Clothes | ' | ' | ' | ' |
Operating group information | ' | ' | ' | ' |
Net sales | 21,318 | 22,315 | 50,064 | 49,575 |
Depreciation and amortization | 67 | 93 | 134 | 196 |
Operating income (loss) | 1,537 | 2,026 | 4,275 | 4,487 |
Ben Sherman | ' | ' | ' | ' |
Operating group information | ' | ' | ' | ' |
Net sales | 18,696 | 16,275 | 33,779 | 28,511 |
Depreciation and amortization | 750 | 761 | 1,476 | 1,486 |
Operating income (loss) | -3,128 | -3,841 | -7,803 | -8,665 |
Corporate and Other | ' | ' | ' | ' |
Operating group information | ' | ' | ' | ' |
Net sales | 1,875 | 5,050 | 6,965 | 9,882 |
Depreciation and amortization | 627 | 615 | 1,258 | 1,200 |
Operating income (loss) | ($4,519) | ($3,866) | ($8,775) | ($7,856) |
Income_Taxes_Details
Income Taxes: (Details) | 3 Months Ended | 6 Months Ended | ||
Aug. 02, 2014 | Aug. 03, 2013 | Aug. 02, 2014 | Aug. 03, 2013 | |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Effective tax rate (as a percent) | 41.80% | 40.70% | 43.60% | 43.20% |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Loss: (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 | Aug. 02, 2014 | Aug. 03, 2013 |
Changes in the entity's accumulated other comprehensive loss by component, net of related income taxes | ' | ' | ' | ' |
Beginning balance | ($23,865) | ($24,884) | ($23,618) | ($24,585) |
Other comprehensive income (loss) before reclassifications | 156 | -661 | -75 | -991 |
Amounts reclassified from accumulated other comprehensive income (loss) for gain realized | 8 | -53 | -8 | -22 |
Total other comprehensive income (loss), net of taxes | 164 | -714 | -83 | -1,013 |
Ending balance | -23,701 | -25,598 | -23,701 | -25,598 |
Foreign currency translation gain (loss) | ' | ' | ' | ' |
Changes in the entity's accumulated other comprehensive loss by component, net of related income taxes | ' | ' | ' | ' |
Beginning balance | -23,189 | -24,647 | -23,283 | -23,986 |
Other comprehensive income (loss) before reclassifications | 15 | -701 | 109 | -1,362 |
Amounts reclassified from accumulated other comprehensive income (loss) for gain realized | 0 | 0 | 0 | 0 |
Total other comprehensive income (loss), net of taxes | 15 | -701 | 109 | -1,362 |
Ending balance | -23,174 | -25,348 | -23,174 | -25,348 |
Net unrealized gain (loss) on cash flow hedges | ' | ' | ' | ' |
Changes in the entity's accumulated other comprehensive loss by component, net of related income taxes | ' | ' | ' | ' |
Beginning balance | -676 | -237 | -335 | -599 |
Other comprehensive income (loss) before reclassifications | 141 | 40 | -184 | 371 |
Amounts reclassified from accumulated other comprehensive income (loss) for gain realized | 8 | -53 | -8 | -22 |
Total other comprehensive income (loss), net of taxes | 149 | -13 | -192 | 349 |
Ending balance | ($527) | ($250) | ($527) | ($250) |