Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
2-May-15 | Jun. 05, 2015 | |
Document and Entity Information | ||
Entity Registrant Name | OXFORD INDUSTRIES INC | |
Entity Central Index Key | 75288 | |
Current Fiscal Year End Date | -29 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | 2-May-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | FALSE | |
Entity Common Stock, Shares Outstanding | 16,582,661 | |
Entity Current Reporting Status | Yes |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (USD $) | 2-May-15 | Jan. 31, 2015 | 3-May-14 |
In Thousands, unless otherwise specified | |||
Current Assets: | |||
Cash and cash equivalents | $8,913 | $5,281 | $8,568 |
Receivables, net | 82,338 | 64,587 | 79,273 |
Inventories, net | 114,376 | 120,613 | 105,751 |
Prepaid expenses, net | 20,774 | 19,941 | 19,035 |
Deferred tax assets | 25,219 | 24,424 | 21,697 |
Assets related to discontinued operations, net | 70,620 | 48,123 | 37,816 |
Total current assets | 322,240 | 282,969 | 272,140 |
Property and equipment, net | 149,279 | 146,039 | 131,722 |
Intangible assets, net | 145,902 | 146,135 | 148,805 |
Goodwill | 17,313 | 17,295 | 17,440 |
Other non-current assets, net | 22,911 | 22,529 | 23,432 |
Assets related to discontinued operations, net | 0 | 31,747 | 33,668 |
Total Assets | 657,645 | 646,714 | 627,207 |
Current Liabilities: | |||
Accounts payable | 50,945 | 72,785 | 51,583 |
Accrued compensation | 22,449 | 27,075 | 16,827 |
Income tax payable | 14,697 | 5,282 | 12,099 |
Other accrued expenses and liabilities | 29,170 | 24,921 | 25,248 |
Contingent consideration | 0 | 12,500 | 12,294 |
Liabilities related to discontinued operations | 18,208 | 17,379 | 13,896 |
Total current liabilities | 135,469 | 159,942 | 131,947 |
Long-term debt | 130,572 | 104,842 | 138,601 |
Other non-current liabilities | 56,154 | 56,287 | 49,162 |
Non-current deferred income taxes | 29,451 | 29,467 | 29,286 |
Liabilities related to discontinued operations | 0 | 5,571 | 5,970 |
Commitments and contingencies | |||
Shareholders’ Equity: | |||
Common stock, $1.00 par value per share | 16,583 | 16,478 | 16,455 |
Additional paid-in capital | 120,393 | 119,052 | 114,802 |
Retained earnings | 198,333 | 185,229 | 164,849 |
Accumulated other comprehensive loss | -29,310 | -30,154 | -23,865 |
Total shareholders’ equity | 305,999 | 290,605 | 272,241 |
Total Liabilities and Shareholders’ Equity | $657,645 | $646,714 | $627,207 |
CONDENSED_CONSOLIDATED_BALANCE1
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) (USD $) | 2-May-15 | Jan. 31, 2015 | 3-May-14 |
Statement of Financial Position [Abstract] | |||
Common stock, par value (in dollars per share) | $1 | $1 | $1 |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | 2-May-15 | 3-May-14 |
Income Statement [Abstract] | ||
Net sales | $260,394 | $242,566 |
Cost of goods sold | 106,002 | 102,194 |
Gross profit | 154,392 | 140,372 |
SG&A | 122,680 | 110,840 |
Change in fair value of contingent consideration | 0 | 69 |
Royalties and other operating income | 3,770 | 3,270 |
Operating income | 35,482 | 32,733 |
Interest expense, net | 773 | 970 |
Earnings from continuing operations before income taxes | 34,709 | 31,763 |
Income taxes | 13,385 | 12,705 |
Net earnings from continuing operations | 21,324 | 19,058 |
Loss from discontinued operations, net of taxes | -4,068 | -4,089 |
Net earnings | $17,256 | $14,969 |
Net earnings from continuing operations per share: | ||
Basic (in dollars per share) | $1.30 | $1.16 |
Diluted (in dollars per share) | $1.29 | $1.16 |
Net loss from discontinued operations per share: | ||
Basic (in dollars per share) | ($0.25) | ($0.25) |
Diluted (in dollars per share) | ($0.25) | ($0.25) |
Net earnings per share: | ||
Basic (in dollars per share) | $1.05 | $0.91 |
Diluted (in dollars per share) | $1.04 | $0.91 |
Weighted average shares outstanding: | ||
Basic (in shares) | 16,445 | 16,418 |
Diluted (in shares) | 16,525 | 16,450 |
Dividends declared per common share (in dollars per share) | $0.25 | $0.21 |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | 2-May-15 | 3-May-14 |
Statement of Comprehensive Income [Abstract] | ||
Net earnings | $17,256 | $14,969 |
Other comprehensive income, net of taxes: | ||
Foreign currency translation gain | 1,236 | 94 |
Net unrealized loss on cash flow hedges | -392 | -341 |
Total other comprehensive income, net of taxes | 844 | -247 |
Comprehensive income | $18,100 | $14,722 |
CONDENSED_CONSOLIDATED_STATEME2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | 2-May-15 | 3-May-14 |
Cash Flows From Operating Activities: | ||
Net earnings | $17,256 | $14,969 |
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities: | ||
Depreciation | 8,906 | 8,512 |
Amortization of intangible assets | 522 | 624 |
Change in fair value of contingent consideration | 0 | 69 |
Amortization of deferred financing costs | 96 | 108 |
Equity compensation expense | 1,182 | 595 |
Deferred income taxes | -823 | -647 |
Changes in working capital, net of acquisitions and dispositions: | ||
Receivables, net | -12,512 | -14,125 |
Inventories, net | 12,637 | 15,853 |
Prepaid expenses, net | -2,820 | -171 |
Current liabilities | -18,822 | -12,140 |
Other non-current assets, net | -420 | -380 |
Other non-current liabilities | -131 | -716 |
Net cash provided by operating activities | 5,071 | 12,551 |
Cash Flows From Investing Activities: | ||
Purchases of property and equipment | -11,907 | -6,704 |
Net cash used in investing activities | -11,907 | -6,704 |
Cash Flows From Financing Activities: | ||
Repayment of revolving credit arrangements | -81,697 | -85,099 |
Proceeds from revolving credit arrangements | 108,492 | 85,407 |
Payment of contingent consideration | -12,500 | -2,500 |
Proceeds from issuance of common stock, including excess tax benefits | 263 | 228 |
Dividends paid | -4,153 | -3,463 |
Net cash provided by (used in) financing activities | 10,405 | -5,427 |
Net change in cash and cash equivalents | 3,569 | 420 |
Effect of foreign currency translation on cash and cash equivalents | 63 | -335 |
Cash and cash equivalents at the beginning of year | 5,281 | 8,483 |
Cash and cash equivalents at the end of the period | 8,913 | 8,568 |
Supplemental disclosure of cash flow information: | ||
Cash paid for interest, net | 716 | 969 |
Cash paid for income taxes | $4,340 | $8,112 |
Basis_of_Presentation
Basis of Presentation: | 3 Months Ended |
2-May-15 | |
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 2014. |
Unless otherwise indicated, all references to assets, liabilities, revenues and expenses in these financial statements reflect continuing operations and exclude any amounts related to the discontinued operations of our Ben Sherman operating group, as discussed in Note 4. |
Operating_Group_Information
Operating Group Information: | 3 Months Ended | ||||||||
2-May-15 | |||||||||
Segment Reporting [Abstract] | |||||||||
Operating Group Information: | Operating Group Information: Our business is primarily operated through our Tommy Bahama, Lilly Pulitzer, and Lanier Clothes operating groups, each of which is described in our Annual Report on Form 10-K for Fiscal 2014. We identify our operating groups based on the way our management organizes the components of our business for purposes of allocating resources and assessing performance. Our operating group structure reflects a brand-focused management approach, emphasizing operational coordination and resource allocation across each brand's direct to consumer, wholesale and licensing operations. 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. Beginning with the First Quarter of Fiscal 2015, amounts associated with our Ben Sherman operations are classified as discontinued operations and held for sale and therefore are excluded from the tables below. | ||||||||
First Quarter Fiscal 2015 | First Quarter Fiscal 2014 | ||||||||
Net sales | |||||||||
Tommy Bahama | $ | 172,669 | $ | 158,359 | |||||
Lilly Pulitzer | 58,978 | 50,371 | |||||||
Lanier Clothes | 26,172 | 28,746 | |||||||
Corporate and Other | 2,575 | 5,090 | |||||||
Total net sales | $ | 260,394 | $ | 242,566 | |||||
Depreciation and amortization | |||||||||
Tommy Bahama | $ | 6,921 | $ | 6,659 | |||||
Lilly Pulitzer | 1,281 | 1,054 | |||||||
Lanier Clothes | 110 | 67 | |||||||
Corporate and Other | 450 | 631 | |||||||
Total depreciation and amortization | $ | 8,762 | $ | 8,411 | |||||
Operating income (loss) | |||||||||
Tommy Bahama | $ | 20,775 | $ | 19,862 | |||||
Lilly Pulitzer | 17,742 | 14,800 | |||||||
Lanier Clothes | 2,140 | 2,738 | |||||||
Corporate and Other | (5,175 | ) | (4,667 | ) | |||||
Total operating income | $ | 35,482 | $ | 32,733 | |||||
Interest expense, net | 773 | 970 | |||||||
Earnings from continuing operations before income taxes | $ | 34,709 | $ | 31,763 | |||||
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Loss: | 3 Months Ended | |||||||||
2-May-15 | ||||||||||
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: | |||||||||
First Quarter Fiscal 2015 | Foreign | Net unrealized | Accumulated | |||||||
currency | gain (loss) on | other | ||||||||
translation | cash flow | comprehensive | ||||||||
gain (loss) | hedges | income (loss) | ||||||||
Beginning balance | $ | (30,900 | ) | $ | 746 | $ | (30,154 | ) | ||
Total other comprehensive income, net of taxes | 1,236 | (392 | ) | 844 | ||||||
Ending balance | $ | (29,664 | ) | $ | 354 | $ | (29,310 | ) | ||
First Quarter 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 | ) | |
Total other comprehensive income, net of taxes | 94 | (341 | ) | (247 | ) | |||||
Ending balance | $ | (23,189 | ) | $ | (676 | ) | $ | (23,865 | ) |
Discontinued_Operations
Discontinued Operations: | 3 Months Ended | |||||||||
2-May-15 | ||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ||||||||||
Discontinued Operations: | Discontinued Operations: On March 24, 2015, our Board of Directors authorized our management to pursue a sale of the Ben Sherman business. We have engaged Financo, Ltd. as our financial advisor to assist in the transaction process. We plan to operate the Ben Sherman business during the process, and although we expect to complete a sale during Fiscal 2015, no specific timetable has been set for consummation of a transaction. There can be no assurance that a transaction will take place, and our Board of Directors may consider other alternatives for the Ben Sherman business that it believes are in the best interest of shareholders. We considered the criteria for assets and liabilities to be classified as held for sale and determined that the criteria for held for sale was met as of March 24, 2015. Additionally, we considered the criteria for qualification as discontinued operations and determined the criteria for discontinued operations was met as of March 24, 2015 as well. | |||||||||
We have not classified as discontinued operations any corporate or shared service expenses historically charged to Ben Sherman which we determined may not be eliminated as a result of the disposal of Ben Sherman. This approach to recognize these expenses as continuing operations in Corporate and Other reflects the uncertainty of whether there will be a reduction in such corporate or shared service expenses in the future as a result of any sale of Ben Sherman. At the time that a group of assets is classified as held for sale, which occurred on March 24, 2015 for Ben Sherman, we cease depreciation and amortization on the assets, even if the disposal group is still generating revenues. Discontinued operations includes only interest directly attributable to the discontinued operations. Income taxes for discontinued operations reflect the residual income tax after calculating the income taxes for continuing operations, excluding the discontinued operations. | ||||||||||
The following represents major classes of assets and liabilities related to the discontinued operations included in our consolidated balance sheets as of the following dates (in thousands): | ||||||||||
May 2, 2015 | January 31, 2015 | May 3, 2014 | ||||||||
Receivables, net | $ | 9,158 | $ | 14,517 | $ | 10,369 | ||||
Inventories, net | 21,535 | 27,602 | 22,508 | |||||||
Other current assets, net | 8,058 | 6,004 | 4,939 | |||||||
Property and equipment, net | 8,946 | 9,037 | 8,057 | |||||||
Intangible assets, net | 21,910 | 21,635 | 24,394 | |||||||
Other non-current assets, net | 1,013 | 1,075 | 1,217 | |||||||
Total assets | $ | 70,620 | $ | 79,870 | $ | 71,484 | ||||
Accounts payable | $ | 5,174 | $ | 8,071 | $ | 3,621 | ||||
Other accrued expenses and liabilities | 2,136 | 5,182 | 6,893 | |||||||
Short-term debt | 5,259 | 4,126 | 3,382 | |||||||
Non-current liabilities | 1,848 | 1,826 | 1,675 | |||||||
Deferred income taxes | 3,791 | 3,745 | 4,295 | |||||||
Total liabilities | $ | 18,208 | $ | 22,950 | $ | 19,866 | ||||
Net assets | $ | 52,412 | $ | 56,920 | $ | 51,618 | ||||
Operating results of the discontinued operations are shown below (in thousands): | ||||||||||
First Quarter Fiscal 2015 | First Quarter Fiscal 2014 | |||||||||
Net sales | $ | 14,976 | $ | 15,083 | ||||||
Cost of goods sold | 8,590 | 8,127 | ||||||||
Gross profit | 6,386 | 6,956 | ||||||||
SG&A | 11,736 | 12,391 | ||||||||
Royalties and other operating income | 1,130 | 1,171 | ||||||||
Operating loss | (4,220 | ) | (4,264 | ) | ||||||
Interest expense, net | 72 | 103 | ||||||||
Loss from discontinued operations before income taxes | (4,292 | ) | (4,367 | ) | ||||||
Income taxes | (224 | ) | (278 | ) | ||||||
Loss from discontinued operations, net of taxes | $ | (4,068 | ) | $ | (4,089 | ) | ||||
Certain information pertaining to depreciation, amortization and capital expenditures of our discontinued operations has been included below (in thousands): | ||||||||||
First Quarter Fiscal 2015 | First Quarter Fiscal 2014 | |||||||||
Depreciation (1) | $ | 639 | $ | 674 | ||||||
Amortization (1) | $ | 28 | $ | 51 | ||||||
Capital expenditures | $ | 427 | $ | 358 | ||||||
(1) For Fiscal 2015, amounts reflect expense recognized prior to classification as held for sale, which occurred on March 24, 2015. No expense for depreciation or amortization was recognized subsequent to qualifying as held for sale. |
Operating_Group_Information_Ta
Operating Group Information: (Tables) | 3 Months Ended | ||||||||
2-May-15 | |||||||||
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. Beginning with the First Quarter of Fiscal 2015, amounts associated with our Ben Sherman operations are classified as discontinued operations and held for sale and therefore are excluded from the tables below. | ||||||||
First Quarter Fiscal 2015 | First Quarter Fiscal 2014 | ||||||||
Net sales | |||||||||
Tommy Bahama | $ | 172,669 | $ | 158,359 | |||||
Lilly Pulitzer | 58,978 | 50,371 | |||||||
Lanier Clothes | 26,172 | 28,746 | |||||||
Corporate and Other | 2,575 | 5,090 | |||||||
Total net sales | $ | 260,394 | $ | 242,566 | |||||
Depreciation and amortization | |||||||||
Tommy Bahama | $ | 6,921 | $ | 6,659 | |||||
Lilly Pulitzer | 1,281 | 1,054 | |||||||
Lanier Clothes | 110 | 67 | |||||||
Corporate and Other | 450 | 631 | |||||||
Total depreciation and amortization | $ | 8,762 | $ | 8,411 | |||||
Operating income (loss) | |||||||||
Tommy Bahama | $ | 20,775 | $ | 19,862 | |||||
Lilly Pulitzer | 17,742 | 14,800 | |||||||
Lanier Clothes | 2,140 | 2,738 | |||||||
Corporate and Other | (5,175 | ) | (4,667 | ) | |||||
Total operating income | $ | 35,482 | $ | 32,733 | |||||
Interest expense, net | 773 | 970 | |||||||
Earnings from continuing operations before income taxes | $ | 34,709 | $ | 31,763 | |||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Loss: (Tables) | 3 Months Ended | |||||||||
2-May-15 | ||||||||||
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: | |||||||||
First Quarter Fiscal 2015 | Foreign | Net unrealized | Accumulated | |||||||
currency | gain (loss) on | other | ||||||||
translation | cash flow | comprehensive | ||||||||
gain (loss) | hedges | income (loss) | ||||||||
Beginning balance | $ | (30,900 | ) | $ | 746 | $ | (30,154 | ) | ||
Total other comprehensive income, net of taxes | 1,236 | (392 | ) | 844 | ||||||
Ending balance | $ | (29,664 | ) | $ | 354 | $ | (29,310 | ) | ||
First Quarter 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 | ) | |
Total other comprehensive income, net of taxes | 94 | (341 | ) | (247 | ) | |||||
Ending balance | $ | (23,189 | ) | $ | (676 | ) | $ | (23,865 | ) |
Discontinued_Operations_Tables
Discontinued Operations: (Tables) | 3 Months Ended | |||||||||
2-May-15 | ||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ||||||||||
Schedule of Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures | The following represents major classes of assets and liabilities related to the discontinued operations included in our consolidated balance sheets as of the following dates (in thousands): | |||||||||
May 2, 2015 | January 31, 2015 | May 3, 2014 | ||||||||
Receivables, net | $ | 9,158 | $ | 14,517 | $ | 10,369 | ||||
Inventories, net | 21,535 | 27,602 | 22,508 | |||||||
Other current assets, net | 8,058 | 6,004 | 4,939 | |||||||
Property and equipment, net | 8,946 | 9,037 | 8,057 | |||||||
Intangible assets, net | 21,910 | 21,635 | 24,394 | |||||||
Other non-current assets, net | 1,013 | 1,075 | 1,217 | |||||||
Total assets | $ | 70,620 | $ | 79,870 | $ | 71,484 | ||||
Accounts payable | $ | 5,174 | $ | 8,071 | $ | 3,621 | ||||
Other accrued expenses and liabilities | 2,136 | 5,182 | 6,893 | |||||||
Short-term debt | 5,259 | 4,126 | 3,382 | |||||||
Non-current liabilities | 1,848 | 1,826 | 1,675 | |||||||
Deferred income taxes | 3,791 | 3,745 | 4,295 | |||||||
Total liabilities | $ | 18,208 | $ | 22,950 | $ | 19,866 | ||||
Net assets | $ | 52,412 | $ | 56,920 | $ | 51,618 | ||||
Operating results of the discontinued operations are shown below (in thousands): | ||||||||||
First Quarter Fiscal 2015 | First Quarter Fiscal 2014 | |||||||||
Net sales | $ | 14,976 | $ | 15,083 | ||||||
Cost of goods sold | 8,590 | 8,127 | ||||||||
Gross profit | 6,386 | 6,956 | ||||||||
SG&A | 11,736 | 12,391 | ||||||||
Royalties and other operating income | 1,130 | 1,171 | ||||||||
Operating loss | (4,220 | ) | (4,264 | ) | ||||||
Interest expense, net | 72 | 103 | ||||||||
Loss from discontinued operations before income taxes | (4,292 | ) | (4,367 | ) | ||||||
Income taxes | (224 | ) | (278 | ) | ||||||
Loss from discontinued operations, net of taxes | $ | (4,068 | ) | $ | (4,089 | ) | ||||
Certain information pertaining to depreciation, amortization and capital expenditures of our discontinued operations has been included below (in thousands): | ||||||||||
First Quarter Fiscal 2015 | First Quarter Fiscal 2014 | |||||||||
Depreciation (1) | $ | 639 | $ | 674 | ||||||
Amortization (1) | $ | 28 | $ | 51 | ||||||
Capital expenditures | $ | 427 | $ | 358 | ||||||
(1) For Fiscal 2015, amounts reflect expense recognized prior to classification as held for sale, which occurred on March 24, 2015. No expense for depreciation or amortization was recognized subsequent to qualifying as held for sale. |
Operating_Group_Information_De
Operating Group Information: (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | 2-May-15 | 3-May-14 |
Operating group information | ||
Net sales | $260,394 | $242,566 |
Depreciation and amortization | 8,762 | 8,411 |
Operating income (loss) | 35,482 | 32,733 |
Interest expense, net | 773 | 970 |
Earnings from continuing operations before income taxes | 34,709 | 31,763 |
Tommy Bahama | ||
Operating group information | ||
Net sales | 172,669 | 158,359 |
Depreciation and amortization | 6,921 | 6,659 |
Operating income (loss) | 20,775 | 19,862 |
Lilly Pulitzer | ||
Operating group information | ||
Net sales | 58,978 | 50,371 |
Depreciation and amortization | 1,281 | 1,054 |
Operating income (loss) | 17,742 | 14,800 |
Lanier Clothes | ||
Operating group information | ||
Net sales | 26,172 | 28,746 |
Depreciation and amortization | 110 | 67 |
Operating income (loss) | 2,140 | 2,738 |
Corporate and Other | ||
Operating group information | ||
Net sales | 2,575 | 5,090 |
Depreciation and amortization | 450 | 631 |
Operating income (loss) | ($5,175) | ($4,667) |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Loss: (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | 2-May-15 | 3-May-14 |
Changes in the entity's accumulated other comprehensive loss by component, net of related income taxes | ||
Beginning balance | ($30,154) | ($23,618) |
Total other comprehensive income, net of taxes | 844 | -247 |
Ending balance | -29,310 | -23,865 |
Foreign currency translation gain (loss) | ||
Changes in the entity's accumulated other comprehensive loss by component, net of related income taxes | ||
Beginning balance | -30,900 | -23,283 |
Total other comprehensive income, net of taxes | 1,236 | 94 |
Ending balance | -29,664 | -23,189 |
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 | 746 | -335 |
Total other comprehensive income, net of taxes | -392 | -341 |
Ending balance | $354 | ($676) |
Discontinued_Operations_Major_
Discontinued Operations: - Major Classes of Assets and Liabilities (Details) (USD $) | 2-May-15 | Jan. 31, 2015 | 3-May-14 |
In Thousands, unless otherwise specified | |||
Discontinued Operations and Disposal Groups [Abstract] | |||
Receivables, net | $9,158 | $14,517 | $10,369 |
Inventories, net | 21,535 | 27,602 | 22,508 |
Other current assets, net | 8,058 | 6,004 | 4,939 |
Property and equipment, net | 8,946 | 9,037 | 8,057 |
Intangible assets, net | 21,910 | 21,635 | 24,394 |
Other non-current assets, net | 1,013 | 1,075 | 1,217 |
Total assets | 70,620 | 79,870 | 71,484 |
Accounts payable | 5,174 | 8,071 | 3,621 |
Other accrued expenses and liabilities | 2,136 | 5,182 | 6,893 |
Short-term debt | 5,259 | 4,126 | 3,382 |
Non-current liabilities | 1,848 | 1,826 | 1,675 |
Deferred income taxes | 3,791 | 3,745 | 4,295 |
Total liabilities | 18,208 | 22,950 | 19,866 |
Net assets | $52,412 | $56,920 | $51,618 |
Discontinued_Operations_Operat
Discontinued Operations: - Operating Results (Details) (USD $) | 3 Months Ended | |
2-May-15 | 3-May-14 | |
Discontinued Operations and Disposal Groups [Abstract] | ||
Net sales | $14,976,000 | $15,083,000 |
Cost of goods sold | 8,590,000 | 8,127,000 |
Gross profit | 6,386,000 | 6,956,000 |
SG&A | 11,736,000 | 12,391,000 |
Royalties and other operating income | 1,130,000 | 1,171,000 |
Operating loss | -4,220,000 | -4,264,000 |
Interest expense, net | 72,000 | 103,000 |
Earnings from discontinued operations before income taxes | -4,292,000 | -4,367,000 |
Income taxes | -224,000 | -278,000 |
Net earnings from discontinued operations, net of taxes | ($4,068,000) | ($4,089,000) |
Discontinued_Operations_Additi
Discontinued Operations: - Additional Disclosures (Details) (USD $) | 1 Months Ended | 3 Months Ended | |
2-May-15 | 2-May-15 | 3-May-14 | |
Discontinued Operations and Disposal Groups [Abstract] | |||
Depreciation | $639,000 | $674,000 | |
Amortization | 28,000 | 51,000 | |
Capital expenditures | 427,000 | 358,000 | |
Depreciation and amortization expense recognized subsequent to qualifying as held for sale | $0 |