Oxford Industries (OXM) 10-Q 7 Dec 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Oct. 29, 2016	Dec. 02, 2016
Document and Entity Information
Entity Registrant Name	OXFORD INDUSTRIES INC
Entity Central Index Key	75,288
Current Fiscal Year End Date	--01-28
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Oct. 29, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		16,770,134

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Oct. 29, 2016	Jan. 30, 2016	Oct. 31, 2015
Current Assets
Cash and cash equivalents	$ 5,351	$ 6,323	$ 6,558
Receivables, net	68,492	59,065	60,344
Inventories, net	136,383	129,136	120,559
Prepaid expenses	29,558	22,272	26,570
Total Current Assets	239,784	216,796	214,031
Property and equipment, net	195,799	184,094	183,482
Intangible assets, net	185,957	143,738	144,491
Goodwill	51,053	17,223	17,238
Other non-current assets, net	22,882	20,839	22,400
Total Assets	695,475	582,690	581,642
Current Liabilities
Accounts payable	53,144	68,306	63,855
Accrued compensation	18,181	30,063	28,820
Income tax payable	0	1,470	0
Other accrued expenses and liabilities	26,358	26,666	24,049
Liabilities related to discontinued operations	0	2,394	6,208
Total Current Liabilities	97,683	128,899	122,932
Long-term debt	142,425	43,975	68,744
Other non-current liabilities	69,176	67,188	66,936
Deferred taxes	13,643	3,657	3,101
Liabilities related to discontinued operations	3,279	4,571	0
Commitments and contingencies
Shareholders’ Equity
Common stock, $1.00 par value per share	16,773	16,601	16,582
Additional paid-in capital	129,762	125,477	123,698
Retained earnings	228,016	199,151	185,850
Accumulated other comprehensive loss	(5,282)	(6,829)	(6,201)
Total Shareholders’ Equity	369,269	334,400	319,929
Total Liabilities and Shareholders’ Equity	$ 695,475	$ 582,690	$ 581,642

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Oct. 29, 2016	Jan. 30, 2016	Oct. 31, 2015
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 1	$ 1	$ 1

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2016	Oct. 31, 2015	Oct. 29, 2016	Oct. 31, 2015
Income Statement [Abstract]
Net sales	$ 222,308	$ 198,624	$ 761,539	$ 709,708
Cost of goods sold	104,029	90,735	325,422	296,340
Gross profit	118,279	107,889	436,117	413,368
SG&A	121,667	112,694	376,182	355,337
Royalties and other operating income	3,061	3,639	10,433	11,032
Operating (loss) income	(327)	(1,166)	70,368	69,063
Interest expense, net	716	449	2,505	1,961
(Loss) earnings from continuing operations before income taxes	(1,043)	(1,615)	67,863	67,102
Income taxes	555	(225)	25,408	26,119
Net (loss) earnings from continuing operations	(1,598)	(1,390)	42,455	40,983
Loss from discontinued operations, net of taxes	0	(754)	0	(27,892)
Net (loss) earnings	$ (1,598)	$ (2,144)	$ 42,455	$ 13,091
Net (loss) earnings from continuing operations per share:
Basic (in dollars per share)	$ (0.10)	$ (0.08)	$ 2.57	$ 2.49
Diluted (in dollars per share)	(0.10)	(0.08)	2.55	2.48
Loss from discontinued operations, net of taxes, per share:
Basic (in dollars per share)	0	(0.05)	0	(1.70)
Diluted (in dollars per share)	0	(0.05)	0	(1.69)
Net (loss) earnings per share:
Basic (in dollars per share)	(0.10)	(0.13)	2.57	0.80
Diluted (in dollars per share)	$ (0.10)	$ (0.13)	$ 2.55	$ 0.79
Weighted average shares outstanding:
Basic (in shares)	16,531	16,457	16,516	16,451
Diluted (in shares)	16,531	16,457	16,635	16,544
Dividends declared per share (in dollars per share)	$ 0.27	$ 0.25	$ 0.81	$ 0.75

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2016	Oct. 31, 2015	Oct. 29, 2016	Oct. 31, 2015
Statement of Comprehensive Income [Abstract]
Net (loss) earnings	$ (1,598)	$ (2,144)	$ 42,455	$ 13,091
Other comprehensive income (loss), net of taxes:
Foreign currency translation (loss) gain	(172)	(57)	1,547	24,699
Net unrealized loss on cash flow hedges	0	0	0	(746)
Total other comprehensive (loss) income, net of taxes	(172)	(57)	1,547	23,953
Comprehensive (loss) income	$ (1,770)	$ (2,201)	$ 44,002	$ 37,044

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Oct. 29, 2016	Oct. 31, 2015
Cash Flows From Operating Activities:
Net (loss) earnings	$ 42,455	$ 13,091
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation	29,070	25,438
Amortization of intangible assets	1,744	1,490
Equity compensation expense	5,332	3,758
Amortization of deferred financing costs	586	289
Loss on sale of discontinued operations	0	20,437
Deferred income taxes	6,008	(767)
Changes in working capital, net of acquisitions and dispositions:
Receivables, net	(2,204)	11,006
Inventories, net	10,118	808
Prepaid expenses	(6,510)	(6,888)
Current liabilities	(33,229)	(11,071)
Other non-current assets, net	(717)	593
Other non-current liabilities	654	10,428
Net cash provided by operating activities	53,307	68,612
Cash Flows From Investing Activities:
Acquisitions, net of cash acquired	(91,960)	0
Purchases of property and equipment	(40,144)	(63,217)
(Working capital settlement) proceeds from sale related to discontinued operations	(2,029)	59,336
Other investing activities	(3,000)	(1,100)
Net cash used in investing activities	(137,133)	(4,981)
Cash Flows From Financing Activities:
Repayment of revolving credit arrangements	(339,560)	(272,953)
Proceeds from revolving credit arrangements	438,010	234,051
Deferred financing costs paid	(1,430)	0
Payment of contingent consideration amounts earned	0	(12,500)
Proceeds from issuance of common stock, net of equity awards withheld for taxes	(875)	991
Cash dividends declared and paid	(13,590)	(12,474)
Net cash provided by (used in) financing activities	82,555	(62,885)
Net change in cash and cash equivalents	(1,271)	746
Effect of foreign currency translation on cash and cash equivalents	299	531
Cash and cash equivalents at the beginning of year	6,323	5,281
Cash and cash equivalents at the end of the period	5,351	6,558
Supplemental disclosure of cash flow information:
Cash paid for interest, net	2,067	1,858
Cash paid for income taxes	$ 26,103	$ 32,141

Basis of Presentation_

Basis of Presentation:	9 Months Ended
	Oct. 29, 2016
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 2015 . Unless otherwise indicated, all references to assets, liabilities, revenues and expenses in these financial statements reflect continuing operations and exclude any amounts related to our former Ben Sherman operating group, which is classified as discontinued operations for all periods presented, as discussed in Note 5. In March 2016, the FASB issued an update to their accounting guidance on stock compensation with the intent of simplifying and improving several aspects related to how equity-based payments are accounted for and presented in the financial statements, including the accounting for forfeitures and tax-effects related to equity-based payments at settlement and the classification of excess tax benefits and equity awards surrendered for tax withholdings in the statement of cash flows. We adopted this guidance as of the beginning of the First Quarter of Fiscal 2016 with no material impact on our consolidated financial statements. This guidance was adopted prospectively with no adjustments to prior periods.

Operating Group Information_

Operating Group Information:	9 Months Ended
	Oct. 29, 2016
Segment Reporting [Abstract]
Operating Group Information:	Operating Group Information: Our business is primarily operated through our Tommy Bahama, Lilly Pulitzer, Lanier Apparel and Southern Tide operating groups. We identify our operating groups based on the way our management organizes the components of our business for purposes of allocating resources and assessing performance. Our operating group structure reflects a brand-focused management approach, emphasizing operational coordination and resource allocation across each brand's direct to consumer, wholesale and licensing operations, as applicable. Tommy Bahama, Lilly Pulitzer and Southern Tide each design, source, market and distribute apparel and related products bearing their respective trademarks and also license their trademarks for other product categories, while Lanier Apparel designs, sources, and distributes branded and private label men's tailored clothing and sportswear products. Corporate and Other is a reconciling category for reporting purposes and includes our corporate offices, substantially all financing activities, elimination of inter-segment sales, LIFO inventory accounting adjustments, other costs that are not allocated to the operating groups and other operations that are not included in our operating groups, including our Lyons, Georgia distribution center operations. For a more extensive description of our Tommy Bahama, Lilly Pulitzer and Lanier Apparel operating groups, see Part I, Item 1. Business included in our Annual Report on Form 10-K for Fiscal 2015. For a more extensive description of our Southern Tide operating group, which was acquired in Fiscal 2016, see Note 4 to these unaudited condensed consolidated financial statements. The tables below present certain information (in thousands) about our operating groups, as well as Corporate and Other. Amounts associated with our Ben Sherman operations, which were sold in the Second Quarter of Fiscal 2015, are classified as discontinued operations and therefore are excluded from the tables below. Third Quarter Fiscal 2016 Third Quarter Fiscal 2015 First Nine Months Fiscal 2016 First Nine Months Fiscal 2015 Net sales Tommy Bahama $ 125,966 $ 124,101 $ 472,796 $ 462,612 Lilly Pulitzer 52,319 44,050 186,777 167,704 Lanier Apparel 35,065 29,889 81,217 78,627 Southern Tide 8,687 — 19,267 — Corporate and Other 271 584 1,482 765 Total net sales $ 222,308 $ 198,624 $ 761,539 $ 709,708 Depreciation and amortization Tommy Bahama $ 7,756 $ 7,189 $ 23,331 $ 20,656 Lilly Pulitzer 1,956 1,420 5,551 4,054 Lanier Apparel 123 119 335 351 Southern Tide 191 — 457 — Corporate and Other 389 363 1,140 1,194 Total depreciation and amortization $ 10,415 $ 9,091 $ 30,814 $ 26,255 Operating income (loss) Tommy Bahama $ (7,133 ) $ (6,289 ) $ 26,761 $ 34,627 Lilly Pulitzer 6,212 5,109 49,646 42,367 Lanier Apparel 3,666 2,993 6,609 5,905 Southern Tide (472 ) — (425 ) — Corporate and Other (2,600 ) (2,979 ) (12,223 ) (13,836 ) Total operating income $ (327 ) $ (1,166 ) $ 70,368 $ 69,063 Interest expense, net 716 449 2,505 1,961 (Loss) earnings from continuing operations before income taxes $ (1,043 ) $ (1,615 ) $ 67,863 $ 67,102

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss:	9 Months Ended
	Oct. 29, 2016
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: Third Quarter Fiscal 2016 Foreign currency translation gain (loss) Net unrealized gain (loss) on cash flow hedges Accumulated other comprehensive income (loss) Beginning balance $ (5,110 ) $ — $ (5,110 ) Total other comprehensive loss, net of taxes (172 ) — (172 ) Ending balance $ (5,282 ) $ — $ (5,282 ) Third Quarter Fiscal 2015 Foreign Net unrealized Accumulated Beginning balance $ (6,144 ) $ — $ (6,144 ) Total other comprehensive loss, net of taxes (57 ) — (57 ) Ending balance $ (6,201 ) $ — $ (6,201 ) First Nine Months Fiscal 2016 Foreign Net unrealized Accumulated Beginning balance $ (6,829 ) $ — $ (6,829 ) Total other comprehensive income, net of taxes 1,547 — 1,547 Ending balance $ (5,282 ) $ — $ (5,282 ) First Nine Months Fiscal 2015 Foreign Net unrealized Accumulated Beginning balance $ (30,900 ) $ 746 $ (30,154 ) Total other comprehensive income (loss), net of taxes 24,699 (746 ) 23,953 Ending balance $ (6,201 ) $ — $ (6,201 ) Substantially all of the change in accumulated other comprehensive loss during the First Nine Months of Fiscal 2015 resulted from the sale of our discontinued operations as substantially all of the amounts previously classified in accumulated other comprehensive loss related to foreign currency translation were recognized in net loss from discontinued operations in our consolidated statement of operations during the Second Quarter of Fiscal 2015. No amounts of accumulated other comprehensive loss were reclassified from accumulated other comprehensive loss into our consolidated statements of operations during the First Nine Months of Fiscal 2016 .

Business Combinations_

Business Combinations:	9 Months Ended
	Oct. 29, 2016
Business Combinations [Abstract]
Business Combinations:	Business Combinations: On April 19, 2016, we acquired Southern Tide, LLC, which owns the Southern Tide lifestyle apparel brand. Southern Tide carries an extensive selection of men’s shirts, pants, shorts, outerwear, ties, swimwear, footwear and accessories, as well as a women’s collection. The brand’s products are sold through its wholesale operations to specialty stores and department stores as well as through its direct to consumer operations on the Southern Tide website. The purchase price for the acquisition of Southern Tide was $85 million in cash, subject to adjustment based on net working capital as of the closing date of the acquisition. After giving effect to the final working capital adjustment paid in the Second Quarter of Fiscal 2016, the purchase price paid was $92.0 million , net of acquired cash of $2.4 million . We used borrowings under our revolving credit facility to finance the transaction. Transaction costs related to this acquisition totaled $0.8 million and are included in SG&A in Corporate and Other in the First Nine Months of Fiscal 2016 . Our allocation of the purchase price to the estimated fair values of the acquired assets and liabilities is preliminary. The allocation will be revised during the one year allocation period, as appropriate, as we obtain new information about the fair values of these assets and liabilities and finalize valuation estimates. Changes in future periods to the amounts allocated to the various assets could be material. The following table summarizes our preliminary allocation of the purchase price for the Southern Tide acquisition (in thousands): Southern Tide acquisition Cash and cash equivalents $ 2,423 Receivables 6,672 Inventories (1) 16,607 Prepaid expenses 740 Property and equipment 220 Intangible assets 40,900 Goodwill 33,783 Other non-current assets 344 Accounts payable, accrued expenses and other liabilities (3,328 ) Deferred taxes (3,978 ) Purchase price $ 94,383 (1) Includes a step-up of acquired inventory from cost to fair value of $3.0 million pursuant to the purchase method of accounting. This step-up amount will be recognized in cost of goods sold as the acquired inventory is sold. Goodwill represents the amount by which the cost to acquire Southern Tide exceeds the fair value of individual acquired assets less liabilities of the business at acquisition. Intangible assets allocated in connection with our preliminary purchase price allocation consisted of the following (in thousands): Useful life Southern Tide acquisition Finite lived intangible assets acquired, primarily consisting of customer relationships 0 - 15 years $ 6,600 Trade names and trademarks Indefinite 34,300 $ 40,900 Pro Forma Information The consolidated pro forma information presented below (in thousands, except per share data) gives effect to the April 19, 2016 acquisition of Southern Tide as if the acquisition had occurred as of the beginning of Fiscal 2015. The information presented below is for illustrative purposes only, is not indicative of results that would have been achieved if the acquisition had occurred as of the beginning of Fiscal 2015 and is not intended to be a projection of future results of operations. The pro forma statements of operations have been prepared from our and Southern Tide's historical statements of operations for the periods presented, including without limitation, purchase accounting adjustments, but excluding any seller specific management/advisory or similar expenses and any synergies or operating cost reductions that may be achieved from the combined operations in the future. Third Quarter Fiscal 2016 Third Quarter Fiscal 2015 First Nine Months Fiscal 2016 First Nine Months Fiscal 2015 Net sales $ 222,308 $ 209,837 $ 773,319 $ 740,756 (Loss) earnings from continuing operations before income taxes $ (49 ) $ (1,240 ) $ 72,804 $ 66,758 (Loss) earnings from continuing operations $ (987 ) $ (1,160 ) $ 45,494 $ 40,771 (Loss) earnings from continuing operations per share: Basic $ (0.06 ) $ (0.07 ) $ 2.75 $ 2.48 Diluted $ (0.06 ) $ (0.07 ) $ 2.73 $ 2.46 The First Nine Months of Fiscal 2016 pro forma information above includes amortization of acquired intangible assets, but excludes the transaction expenses associated with the transaction and the incremental cost of goods sold associated with the step-up of inventory at acquisition that were recognized by us in our First Nine Months of Fiscal 2016 consolidated statement of operations. The First Nine Months of Fiscal 2015 pro forma information above includes amortization of acquired intangible assets, transaction expenses associated with the transaction and incremental cost of goods sold associated with the step-up of inventory at acquisition. Additionally, the pro forma adjustments for each period prior to the date of acquisition reflect an estimate of incremental interest expense associated with additional borrowings and income tax expense that would have been incurred subsequent to the acquisition. We believe that the acquisition of Southern Tide further advances our strategic goal of owning a diversified portfolio of lifestyle brands. The acquisition provides strategic benefits through growth opportunities and further diversification of our business.

Discontinued Operations_

Discontinued Operations:	9 Months Ended
	Oct. 29, 2016
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations:	Discontinued Operations: On July 17, 2015, we sold 100% of the equity interests of our Ben Sherman business, consisting of Ben Sherman Limited and its subsidiaries and Ben Sherman Clothing LLC, for £ 40.8 million before any working capital or other purchase price adjustments. The final purchase price received by us was subject to adjustment based on, among other things, the actual debt and net working capital of the Ben Sherman business on the closing date, which was finalized and paid during the First Quarter of Fiscal 2016. We do not anticipate significant operations or earnings related to the discontinued operations in future periods, with cash flow attributable to discontinued operations in the future primarily limited to amounts associated with certain retained lease obligations. The estimated lease liability of $3.3 million as of October 29, 2016 represents our best estimate of the future net loss anticipated with respect to the retained lease obligations; however, the ultimate loss to be recognized remains uncertain as the amount of any sub-lease income is dependent upon negotiated terms of any sub-lease agreements entered into for the spaces in the future. The following table 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): October 29, 2016 January 30, 2016 October 31, 2015 Accounts payable and other accrued expenses $ — $ (2,394 ) $ (6,208 ) Non-current liabilities (3,279 ) (4,571 ) — Net (liabilities) assets $ (3,279 ) $ (6,965 ) $ (6,208 ) Operating results of the discontinued operations are shown below (in thousands): Third Quarter Fiscal 2016 Third Quarter Fiscal 2015 First Nine Months Fiscal 2016 First Nine Months Fiscal 2015 Net sales $ — $ — $ — $ 28,081 Cost of goods sold — — — 17,414 Gross profit $ — $ — $ — $ 10,667 SG&A — 562 — 20,668 Royalties and other operating income — — — 1,919 Operating loss $ — $ (562 ) $ — $ (8,082 ) Interest expense, net — — — 45 Loss from discontinued operations before income taxes $ — $ (562 ) $ — $ (8,127 ) Income taxes — 192 — (672 ) Loss from discontinued operations, net of taxes $ — $ (754 ) $ — $ (7,455 ) Loss on sale of discontinued operations, net of taxes — — — (20,437 ) Loss from discontinued operations, net of taxes $ — $ (754 ) $ — $ (27,892 ) During the First Nine Months of Fiscal 2016 , we did not incur any depreciation, amortization or capital expenditures related to our discontinued operations, while in the First Nine Months of Fiscal 2015 , we recognized $0.7 million of depreciation and amortization and $0.7 million of capital expenditures. Depreciation, amortization and capital expenditures, if any, related to our discontinued operations are included in the respective line items in our consolidated statements of cash flows.

Debt_ Debt_

Debt: Debt:	9 Months Ended
	Oct. 29, 2016
Debt Disclosure [Abstract]
Debt:	: On May 24, 2016, we entered into a Fourth Amended and Restated Credit Agreement (the “Revolving Credit Agreement”). The Revolving Credit Agreement provides for a revolving credit facility of up to $325 million , which may be used to refinance existing debt, to fund working capital, to fund future acquisitions and for general corporate purposes. The Revolving Credit Agreement amended and restated our Third Amended and Restated Credit Agreement, dated June 14, 2012 maturing November 2018 (the “Prior Credit Agreement”). The Revolving Credit Agreement (i) increased the borrowing capacity of the facility, (ii) extended the maturity to May 2021 and (iii) modified certain other provisions and restrictions from the Prior Credit Agreement. This amendment and restatement resulted in a write off of unamortized deferred financing costs of $0.3 million in the Second Quarter of Fiscal 2016. The Revolving Credit Agreement generally (i) is limited to a borrowing base consisting of specified percentages of eligible categories of assets, (ii) accrues variable-rate interest, unused line fees and letter of credit fees based upon average unused availability or utilization, (iii) requires periodic interest payments with principal due at maturity (May 2021) and (iv) is secured by a first priority security interest in substantially all of the assets of Oxford Industries, Inc. and substantially all of its domestic subsidiaries, including accounts receivable, books and records, chattel paper, deposit accounts, equipment, certain general intangibles, inventory, investment property (including the equity interests of certain subsidiaries), negotiable collateral, life insurance policies, supporting obligations, commercial tort claims, cash and cash equivalents, eligible trademarks, proceeds and other personal property. The Revolving Credit Agreement is subject to a number of affirmative covenants regarding the delivery of financial information, compliance with law, maintenance of property, insurance requirements and conduct of business. Also, our Revolving Credit Agreement is subject to certain negative covenants or other restrictions, including, among other things, limitations on our ability to (i) incur debt, (ii) guaranty certain obligations, (iii) incur liens, (iv) pay dividends to shareholders, (v) repurchase shares of our common stock, (vi) make investments, (vii) sell assets or stock of subsidiaries, (viii) acquire assets or businesses, (ix) merge or consolidate with other companies or (x) prepay, retire, repurchase or redeem debt. Further, the Revolving Credit Agreement contains a financial covenant that applies if excess availability under the agreement for three consecutive days is less than the greater of (i) $23.5 million or (ii) 10% of availability. In such case, our fixed charge coverage ratio, as defined in the Revolving Credit Agreement, must not be less than 1.0 to 1.0 for the immediately preceding 12 fiscal months for which financial statements have been delivered. This financial covenant continues to apply until we have maintained excess availability under the Revolving Credit Agreement of more than the greater of (i) $23.5 million or (ii) 10% of availability for 30 consecutive days.

Commitments and Contingencies_

Commitments and Contingencies: (Notes)	9 Months Ended
	Oct. 29, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies:	Commitments and Contingencies: We are subject to certain claims and assessments in the ordinary course of business. The claims and assessments may relate, among other things, to disputes about intellectual property, real estate and contracts, as well as labor, employment, environmental, customs and tax matters. For those matters where it is probable that we have incurred a loss and the loss, or range of loss, can be reasonably estimated, we have recorded reserves in other accrued expenses and liabilities or other non-current liabilities in our consolidated financial statements for the estimated loss and related expenses, such as legal fees. In other instances, because of the uncertainties related to both the probable outcome or amount or range of loss, we are unable to make a reasonable estimate of a liability, if any, and therefore have not recorded a reserve. As additional information becomes available or as circumstances change, we adjust our assessment and estimates of such liabilities accordingly. Additionally, for any potential gain contingencies, we do not recognize the gain until the period that all contingencies have been resolved and the amounts are realizable. During the Third Quarter of Fiscal 2016, we recognized a benefit of $1.9 million , or $0.07 per diluted share, after tax, in connection with a settlement of certain outstanding economic loss claims filed pursuant to the Deepwater Horizon Economic and Property Damages Settlement Program, and we recognized a charge of $1.3 million , or $0.08 per diluted share, related to an assertion of underpaid customs duties. Both of these matters have been recognized in cost of goods sold in Tommy Bahama. As the charge relating to the duties is associated with our international operations in a jurisdiction with taxable losses, there is no income tax benefit currently recognized associated with this charge. In addition, that charge may be adjusted or reversed as the matter progresses and additional information becomes available.

Operating Group Information_ (T

Operating Group Information: (Tables)	9 Months Ended
	Oct. 29, 2016
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. Amounts associated with our Ben Sherman operations, which were sold in the Second Quarter of Fiscal 2015, are classified as discontinued operations and therefore are excluded from the tables below. Third Quarter Fiscal 2016 Third Quarter Fiscal 2015 First Nine Months Fiscal 2016 First Nine Months Fiscal 2015 Net sales Tommy Bahama $ 125,966 $ 124,101 $ 472,796 $ 462,612 Lilly Pulitzer 52,319 44,050 186,777 167,704 Lanier Apparel 35,065 29,889 81,217 78,627 Southern Tide 8,687 — 19,267 — Corporate and Other 271 584 1,482 765 Total net sales $ 222,308 $ 198,624 $ 761,539 $ 709,708 Depreciation and amortization Tommy Bahama $ 7,756 $ 7,189 $ 23,331 $ 20,656 Lilly Pulitzer 1,956 1,420 5,551 4,054 Lanier Apparel 123 119 335 351 Southern Tide 191 — 457 — Corporate and Other 389 363 1,140 1,194 Total depreciation and amortization $ 10,415 $ 9,091 $ 30,814 $ 26,255 Operating income (loss) Tommy Bahama $ (7,133 ) $ (6,289 ) $ 26,761 $ 34,627 Lilly Pulitzer 6,212 5,109 49,646 42,367 Lanier Apparel 3,666 2,993 6,609 5,905 Southern Tide (472 ) — (425 ) — Corporate and Other (2,600 ) (2,979 ) (12,223 ) (13,836 ) Total operating income $ (327 ) $ (1,166 ) $ 70,368 $ 69,063 Interest expense, net 716 449 2,505 1,961 (Loss) earnings from continuing operations before income taxes $ (1,043 ) $ (1,615 ) $ 67,863 $ 67,102

Accumulated Other Comprehensi15

Accumulated Other Comprehensive Loss: (Tables)	9 Months Ended
	Oct. 29, 2016
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: Third Quarter Fiscal 2016 Foreign currency translation gain (loss) Net unrealized gain (loss) on cash flow hedges Accumulated other comprehensive income (loss) Beginning balance $ (5,110 ) $ — $ (5,110 ) Total other comprehensive loss, net of taxes (172 ) — (172 ) Ending balance $ (5,282 ) $ — $ (5,282 ) Third Quarter Fiscal 2015 Foreign Net unrealized Accumulated Beginning balance $ (6,144 ) $ — $ (6,144 ) Total other comprehensive loss, net of taxes (57 ) — (57 ) Ending balance $ (6,201 ) $ — $ (6,201 ) First Nine Months Fiscal 2016 Foreign Net unrealized Accumulated Beginning balance $ (6,829 ) $ — $ (6,829 ) Total other comprehensive income, net of taxes 1,547 — 1,547 Ending balance $ (5,282 ) $ — $ (5,282 ) First Nine Months Fiscal 2015 Foreign Net unrealized Accumulated Beginning balance $ (30,900 ) $ 746 $ (30,154 ) Total other comprehensive income (loss), net of taxes 24,699 (746 ) 23,953 Ending balance $ (6,201 ) $ — $ (6,201 )

Business Combinations_ Business

Business Combinations: Business Combinations: (Tables)	9 Months Ended
	Oct. 29, 2016
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	The following table summarizes our preliminary allocation of the purchase price for the Southern Tide acquisition (in thousands): Southern Tide acquisition Cash and cash equivalents $ 2,423 Receivables 6,672 Inventories (1) 16,607 Prepaid expenses 740 Property and equipment 220 Intangible assets 40,900 Goodwill 33,783 Other non-current assets 344 Accounts payable, accrued expenses and other liabilities (3,328 ) Deferred taxes (3,978 ) Purchase price $ 94,383 (1) Includes a step-up of acquired inventory from cost to fair value of $3.0 million pursuant to the purchase method of accounting. This step-up amount will be recognized in cost of goods sold as the acquired inventory is sold.
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination	Intangible assets allocated in connection with our preliminary purchase price allocation consisted of the following (in thousands): Useful life Southern Tide acquisition Finite lived intangible assets acquired, primarily consisting of customer relationships 0 - 15 years $ 6,600 Trade names and trademarks Indefinite 34,300 $ 40,900
Business Acquisition, Pro Forma Information	Third Quarter Fiscal 2016 Third Quarter Fiscal 2015 First Nine Months Fiscal 2016 First Nine Months Fiscal 2015 Net sales $ 222,308 $ 209,837 $ 773,319 $ 740,756 (Loss) earnings from continuing operations before income taxes $ (49 ) $ (1,240 ) $ 72,804 $ 66,758 (Loss) earnings from continuing operations $ (987 ) $ (1,160 ) $ 45,494 $ 40,771 (Loss) earnings from continuing operations per share: Basic $ (0.06 ) $ (0.07 ) $ 2.75 $ 2.48 Diluted $ (0.06 ) $ (0.07 ) $ 2.73 $ 2.46

Discontinued Operations_ (Table

Discontinued Operations: (Tables)	9 Months Ended
	Oct. 29, 2016
Discontinued Operations and Disposal Groups [Abstract]
Schedule of discontinued operations	The following table 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): October 29, 2016 January 30, 2016 October 31, 2015 Accounts payable and other accrued expenses $ — $ (2,394 ) $ (6,208 ) Non-current liabilities (3,279 ) (4,571 ) — Net (liabilities) assets $ (3,279 ) $ (6,965 ) $ (6,208 ) Operating results of the discontinued operations are shown below (in thousands): Third Quarter Fiscal 2016 Third Quarter Fiscal 2015 First Nine Months Fiscal 2016 First Nine Months Fiscal 2015 Net sales $ — $ — $ — $ 28,081 Cost of goods sold — — — 17,414 Gross profit $ — $ — $ — $ 10,667 SG&A — 562 — 20,668 Royalties and other operating income — — — 1,919 Operating loss $ — $ (562 ) $ — $ (8,082 ) Interest expense, net — — — 45 Loss from discontinued operations before income taxes $ — $ (562 ) $ — $ (8,127 ) Income taxes — 192 — (672 ) Loss from discontinued operations, net of taxes $ — $ (754 ) $ — $ (7,455 ) Loss on sale of discontinued operations, net of taxes — — — (20,437 ) Loss from discontinued operations, net of taxes $ — $ (754 ) $ — $ (27,892 )

Operating Group Information_ (D

Operating Group Information: (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2016	Oct. 31, 2015	Oct. 29, 2016	Oct. 31, 2015
Operating group information
Net sales	$ 222,308	$ 198,624	$ 761,539	$ 709,708
Depreciation and amortization	10,415	9,091	30,814	26,255
Operating income (loss)	(327)	(1,166)	70,368	69,063
(Loss) earnings from continuing operations before income taxes	(1,043)	(1,615)	67,863	67,102
Corporate and Other
Operating group information
Net sales	271	584	1,482	765
Depreciation and amortization	389	363	1,140	1,194
Operating income (loss)	(2,600)	(2,979)	(12,223)	(13,836)
Tommy Bahama | Operating Groups
Operating group information
Net sales	125,966	124,101	472,796	462,612
Depreciation and amortization	7,756	7,189	23,331	20,656
Operating income (loss)	(7,133)	(6,289)	26,761	34,627
Lilly Pulitzer | Operating Groups
Operating group information
Net sales	52,319	44,050	186,777	167,704
Depreciation and amortization	1,956	1,420	5,551	4,054
Operating income (loss)	6,212	5,109	49,646	42,367
Lanier Apparel | Operating Groups
Operating group information
Net sales	35,065	29,889	81,217	78,627
Depreciation and amortization	123	119	335	351
Operating income (loss)	3,666	2,993	6,609	5,905
Southern Tide | Operating Groups
Operating group information
Net sales	8,687	0	19,267	0
Depreciation and amortization	191	0	457	0
Operating income (loss)	$ (472)	$ 0	$ (425)	$ 0

Accumulated Other Comprehensi19

Accumulated Other Comprehensive Loss: (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2016	Oct. 31, 2015	Oct. 29, 2016	Oct. 31, 2015
Changes in the entity's accumulated other comprehensive loss by component, net of related income taxes
Beginning balance	$ (5,110)	$ (6,144)	$ (6,829)	$ (30,154)
Total other comprehensive loss, net of taxes	(172)	(57)	1,547	23,953
Ending balance	(5,282)	(6,201)	(5,282)	(6,201)
Foreign currency translation gain (loss)
Changes in the entity's accumulated other comprehensive loss by component, net of related income taxes
Beginning balance	(5,110)	(6,144)	(6,829)	(30,900)
Total other comprehensive loss, net of taxes	(172)	(57)	1,547	24,699
Ending balance	(5,282)	(6,201)	(5,282)	(6,201)
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	0	0	0	746
Total other comprehensive loss, net of taxes	0	0	0	(746)
Ending balance	$ 0	$ 0	$ 0	$ 0

Business Combinations_ (Narrati

Business Combinations: (Narrative) (Details) - USD ($) $ in Thousands	Apr. 19, 2016	Oct. 29, 2016	Oct. 29, 2016	Oct. 31, 2015
Business Acquisition [Line Items]
Acquisitions, net of cash acquired			$ 91,960	$ 0
Southern Tide
Business Acquisition [Line Items]
Purchase price	$ 85,000
Acquisitions, net of cash acquired		$ 92,000
Cash acquired	2,423
Selling, General and Administrative Expenses | Southern Tide
Business Acquisition [Line Items]
Transaction costs	$ 800

Business Combinations_ Busine21

Business Combinations: Business Combinations: (Summary of Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Thousands	Apr. 19, 2016	Oct. 29, 2016	Jan. 30, 2016	Oct. 31, 2015
Business Acquisition [Line Items]
Goodwill		$ 51,053	$ 17,223	$ 17,238
Southern Tide
Business Acquisition [Line Items]
Cash and cash equivalents	$ 2,423
Receivables	6,672
Inventories	16,607
Prepaid expenses	740
Property and equipment	220
Intangible assets	40,900
Goodwill	33,783
Other non-current assets	344
Accounts payable, accrued expenses and other liabilities	(3,328)
Deferred taxes	(3,978)
Purchase price	94,383
Inventory adjustment	$ 3,000

Business Combinations_ Busine22

Business Combinations: Business Combinations: (Intangible Assets Acquired) (Details) - Southern Tide - USD ($) $ in Thousands	9 Months Ended
	Oct. 29, 2016	Apr. 19, 2016
Business Acquisition [Line Items]
Finite lived intangible assets acquired, primarily consisting of customer relationships		$ 6,600
Trade names and trademarks		34,300
Intangible assets		$ 40,900
Minimum
Business Acquisition [Line Items]
Useful life	0 years
Maximum
Business Acquisition [Line Items]
Useful life	15 years

Business Combinations_ Busine23

Business Combinations: Business Combinations: (Pro Forma Information) (Details) - Southern Tide - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2016	Oct. 31, 2015	Oct. 29, 2016	Oct. 31, 2015
Business Acquisition [Line Items]
Net sales	$ 222,308	$ 209,837	$ 773,319	$ 740,756
(Loss) earnings from continuing operations before income taxes	(49)	(1,240)	72,804	66,758
(Loss) earnings from continuing operations	$ (987)	$ (1,160)	$ 45,494	$ 40,771
Basic (in usd per share)	$ (0.06)	$ (0.07)	$ 2.75	$ 2.48
Diluted (in usd per share)	$ (0.06)	$ (0.07)	$ 2.73	$ 2.46

Discontinued Operations_ (Detai

Discontinued Operations: (Details) - Disposed of by Sale - Ben Sherman $ in Thousands, £ in Millions	Jul. 17, 2015GBP (£)	Oct. 29, 2016USD ($)	Jan. 30, 2016USD ($)	Oct. 31, 2015USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Estimated lease liability | $		$ (3,279)	$ (4,571)	$ 0
Ben Sherman UK Acquisition Limited
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest sold	100.00%
Sale price | £	£ 40.8

Discontinued Operations_ Major

Discontinued Operations: Major Classes of Assets and Liabilities (Details) - Disposed of by Sale - Ben Sherman - USD ($) $ in Thousands	Oct. 29, 2016	Jan. 30, 2016	Oct. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accounts payable and other accrued expenses	$ 0	$ (2,394)	$ (6,208)
Non-current liabilities	(3,279)	(4,571)	0
Net (liabilities) assets	$ (3,279)	$ (6,965)	$ (6,208)

Discontinued Operations_ Operat

Discontinued Operations: Operating Results (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2016	Oct. 31, 2015	Oct. 29, 2016	Oct. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on sale of discontinued operations, net of taxes			$ 0	$ (20,437)
Loss from discontinued operations, net of taxes	$ 0	$ (754)	0	(27,892)
Disposed of by Sale | Ben Sherman
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	0	0	0	28,081
Cost of goods sold	0	0	0	17,414
Gross profit	0	0	0	10,667
SG&A	0	562	0	20,668
Royalties and other operating income	0	0	0	1,919
Operating loss	0	(562)	0	(8,082)
Interest expense, net	0	0	0	45
Loss from discontinued operations before income taxes	0	(562)	0	(8,127)
Income taxes	0	192	0	(672)
Loss from discontinued operations, net of taxes	0	(754)	0	(7,455)
Loss on sale of discontinued operations, net of taxes	0	0	0	(20,437)
Loss from discontinued operations, net of taxes	$ 0	$ (754)	$ 0	$ (27,892)

Discontinued Operations_ Additi

Discontinued Operations: Additional Disclosures (Details) - USD ($)	9 Months Ended
	Oct. 29, 2016	Oct. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]
Depreciation	$ 0	$ 700,000
Capital expenditures	$ 0	$ 700,000

Debt_ (Details)

Debt: (Details) - Revolving Credit Facility - Fourth Amended and Restated Credit Agreement	3 Months Ended	9 Months Ended
	Jul. 30, 2016USD ($)	Oct. 29, 2016USD ($)	May 24, 2016USD ($)
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 325,000,000
Anticipated write-off of deferred costs	$ 300,000
Amount of availability subject to threshold, number of consecutive days required		3 days
Amount of availability subject to threshold		$ 23,500,000
Percent of availability subject to threshold		10.00%
Fixed charge coverage ratio		1
Percent of availability subject to threshold, number of consecutive days		30 days

Commitments and Contingencies29

Commitments and Contingencies: Commitments and Contingencies: (Details) - Tommy Bahama - Cost of Goods Sold $ / shares in Units, $ in Millions	3 Months Ended
	Oct. 29, 2016USD ($)$ / shares
Deepwater Horizon Oil Spill
Loss Contingencies [Line Items]
Gain in period | $	$ 1.9
Gain in period (in dollars per share) | $ / shares	$ 0.07
Underpaid Customs Duties
Loss Contingencies [Line Items]
Loss in period | $	$ 1.3
Loss in period (in dollars per share) | $ / shares	$ 0.08