Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jul. 29, 2017 | Aug. 25, 2017 | |
Document and Entity Information | ||
Entity Registrant Name | OXFORD INDUSTRIES INC | |
Entity Central Index Key | 75,288 | |
Current Fiscal Year End Date | --02-03 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Jul. 29, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 16,826,814 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands | Jul. 29, 2017 | Jan. 28, 2017 | Jul. 30, 2016 |
Current Assets | |||
Cash and cash equivalents | $ 5,983 | $ 6,332 | $ 8,192 |
Receivables, net | 59,264 | 58,279 | 61,081 |
Inventories, net | 119,620 | 142,175 | 133,662 |
Prepaid expenses | 19,626 | 24,842 | 22,917 |
Total Current Assets | 204,493 | 231,628 | 225,852 |
Property and equipment, net | 193,668 | 193,931 | 190,195 |
Intangible assets, net | 174,262 | 175,245 | 186,565 |
Goodwill | 60,059 | 60,015 | 50,911 |
Other non-current assets, net | 24,265 | 24,340 | 23,041 |
Total Assets | 656,747 | 685,159 | 676,564 |
Current Liabilities | |||
Accounts payable | 60,332 | 76,825 | 58,957 |
Accrued compensation | 25,403 | 19,711 | 20,689 |
Other accrued expenses and liabilities | 32,757 | 32,000 | 32,963 |
Liabilities related to discontinued operations | 3,425 | 2,860 | 0 |
Total Current Liabilities | 121,917 | 131,396 | 112,609 |
Long-term debt | 37,601 | 91,509 | 105,941 |
Other non-current liabilities | 70,836 | 70,002 | 68,529 |
Deferred taxes | 15,520 | 13,578 | 12,620 |
Liabilities related to discontinued operations | 1,507 | 2,544 | 3,469 |
Commitments and contingencies | |||
Shareholders’ Equity | |||
Common stock, $1.00 par value per share | 16,827 | 16,769 | 16,769 |
Additional paid-in capital | 132,668 | 131,144 | 127,595 |
Retained earnings | 264,282 | 233,493 | 234,142 |
Accumulated other comprehensive loss | (4,411) | (5,276) | (5,110) |
Total Shareholders’ Equity | 409,366 | 376,130 | 373,396 |
Total Liabilities and Shareholders’ Equity | $ 656,747 | $ 685,159 | $ 676,564 |
CONDENSED CONSOLIDATED BALANCE3
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares | Jul. 29, 2017 | Jan. 28, 2017 | Jul. 30, 2016 |
Statement of Financial Position [Abstract] | |||
Common stock, par value (in dollars per share) | $ 1 | $ 1 | $ 1 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 29, 2017 | Jul. 30, 2016 | Jul. 29, 2017 | Jul. 30, 2016 | |
Income Statement [Abstract] | ||||
Net sales | $ 284,709 | $ 282,996 | $ 557,072 | $ 539,231 |
Cost of goods sold | 118,740 | 118,201 | 231,693 | 222,971 |
Gross profit | 165,969 | 164,795 | 325,379 | 316,260 |
SG&A | 132,911 | 129,437 | 266,102 | 252,936 |
Royalties and other operating income | 3,344 | 3,332 | 7,084 | 7,372 |
Operating income | 36,402 | 38,690 | 66,361 | 70,696 |
Interest expense, net | 742 | 1,177 | 1,672 | 1,791 |
Earnings from continuing operations before income taxes | 35,660 | 37,513 | 64,689 | 68,905 |
Income taxes | 12,971 | 13,638 | 24,803 | 24,853 |
Net earnings from continuing operations | 22,689 | 23,875 | 39,886 | 44,052 |
Earnings from discontinued operations, net of taxes | 0 | 0 | 0 | 0 |
Net earnings | $ 22,689 | $ 23,875 | $ 39,886 | $ 44,052 |
Net earnings from continuing operations per share: | ||||
Basic (in dollars per share) | $ 1.37 | $ 1.45 | $ 2.41 | $ 2.67 |
Diluted (in dollars per share) | 1.36 | 1.44 | 2.39 | 2.65 |
Earnings from discontinued operations, net of taxes, per share: | ||||
Basic (in dollars per share) | 0 | 0 | 0 | 0 |
Diluted (in dollars per share) | 0 | 0 | 0 | 0 |
Net earnings per share: | ||||
Basic (in dollars per share) | 1.37 | 1.45 | 2.41 | 2.67 |
Diluted (in dollars per share) | $ 1.36 | $ 1.44 | $ 2.39 | $ 2.65 |
Weighted average shares outstanding: | ||||
Basic (in shares) | 16,605 | 16,515 | 16,577 | 16,509 |
Diluted (in shares) | 16,700 | 16,623 | 16,698 | 16,620 |
Dividends declared per share (in dollars per share) | $ 0.27 | $ 0.27 | $ 0.54 | $ 0.54 |
CONDENSED CONSOLIDATED STATEME5
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 29, 2017 | Jul. 30, 2016 | Jul. 29, 2017 | Jul. 30, 2016 | |
Statement of Comprehensive Income [Abstract] | ||||
Net earnings | $ 22,689 | $ 23,875 | $ 39,886 | $ 44,052 |
Other comprehensive income (loss), net of taxes: | ||||
Net foreign currency translation adjustment | 1,151 | (261) | 865 | 1,719 |
Total other comprehensive (loss) income, net of taxes | 1,151 | (261) | 865 | 1,719 |
Comprehensive income | $ 23,840 | $ 23,614 | $ 40,751 | $ 45,771 |
CONDENSED CONSOLIDATED STATEME6
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands | 6 Months Ended | |
Jul. 29, 2017 | Jul. 30, 2016 | |
Cash Flows From Operating Activities: | ||
Net earnings | $ 39,886 | $ 44,052 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
Depreciation | 19,486 | 19,278 |
Amortization of intangible assets | 1,082 | 1,120 |
Equity compensation expense | 3,075 | 3,477 |
Amortization of deferred financing costs | 211 | 480 |
Deferred income taxes | 1,942 | 4,985 |
Changes in working capital, net of acquisitions and dispositions: | ||
Receivables, net | (1,336) | 5,370 |
Inventories, net | 23,731 | 12,985 |
Prepaid expenses | 5,298 | 144 |
Current liabilities | (9,955) | (18,475) |
Other non-current assets, net | 22 | (714) |
Other non-current liabilities | (307) | 173 |
Cash provided by operating activities | 83,135 | 72,875 |
Cash Flows From Investing Activities: | ||
Acquisitions, net of cash acquired | (614) | (94,960) |
Purchases of property and equipment | (18,527) | (24,643) |
Other investing activities | 0 | (2,029) |
Cash used in investing activities | (19,141) | (121,632) |
Cash Flows From Financing Activities: | ||
Repayment of revolving credit arrangements | (163,703) | (304,212) |
Proceeds from revolving credit arrangements | 109,794 | 366,178 |
Deferred financing costs paid | 0 | (1,385) |
Proceeds from issuance of common stock | 713 | 677 |
Repurchase of equity awards for employee tax withholding liabilities | (2,206) | (1,868) |
Cash dividends declared and paid | (9,096) | (9,062) |
Cash (used in) provided by financing activities | (64,498) | 50,328 |
Net change in cash and cash equivalents | (504) | 1,571 |
Effect of foreign currency translation on cash and cash equivalents | 155 | 298 |
Cash and cash equivalents at the beginning of year | 6,332 | 6,323 |
Cash and cash equivalents at the end of the period | 5,983 | 8,192 |
Supplemental disclosure of cash flow information: | ||
Cash paid for interest, net | 1,543 | 1,477 |
Cash paid for income taxes | $ 18,128 | $ 16,996 |
Basis of Presentation_
Basis of Presentation: | 6 Months Ended |
Jul. 29, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation: | Basis of Presentation: The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with GAAP for interim financial reporting and the instructions of Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. We believe the accompanying unaudited condensed consolidated financial statements reflect all normal, recurring adjustments that are necessary for a fair presentation of our financial position and results of operations as of the dates and for the periods presented. Results of operations for the interim periods presented are not necessarily indicative of results to be expected for our full fiscal year. The significant accounting policies applied during the interim periods presented are consistent with the significant accounting policies described in our Annual Report on Form 10-K for Fiscal 2016 . 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. In order to conform to current period classification, certain gift with purchase amounts, totaling $0.9 million and $1.6 million previously reported as SG&A, have been reclassified to cost of goods sold for the Second Quarter of Fiscal 2016 and the First Half of Fiscal 2016 , respectively. This reclassification resulted in a decrease in SG&A and a corresponding increase in cost of goods sold in the Second Quarter of Fiscal 2016 and the First Half of Fiscal 2016 , with no impact on previously reported net earnings. In January 2017, the FASB issued new guidance that provides a more narrow framework for evaluating whether a set of assets and activities constitute a business. We early adopted this guidance in the Second Quarter of Fiscal 2017. The adoption of this guidance did not have a material impact upon adoption. The impact of the guidance in the future will depend on the facts and circumstances of any specific future transactions. Recently Issued Accounting Standards Applicable to Future Periods In May 2014, the FASB issued guidance which provides a single, comprehensive accounting model for revenue arising from contracts with customers. This guidance has been revised and clarified through supplemental adoption guidance subsequent to May 2014. This new revenue recognition guidance supersedes most of the existing revenue recognition guidance which specifies that revenue is recognized when risks and rewards transfer to a customer. Under the new guidance, revenue will be recognized pursuant to a five-step approach: (1) identify the contracts with the customer; (2) identify the separate performance obligations in the contracts; (3) determine the transaction price; (4) allocate the transaction price to separate performance obligations; and (5) recognize revenue when, or as, each performance obligation is satisfied. The new guidance also requires additional disclosures about the nature, timing and uncertainty of revenue and cash flow arising from customer contracts, including significant judgments and changes in judgments. The new guidance is effective for us beginning in Fiscal 2018 and may be applied via the full retrospective method or through the modified retrospective method. At this time we anticipate utilizing the modified retrospective method with a cumulative adjustment to opening retained earnings at the date of adoption in the First Quarter of Fiscal 2018. We are currently reviewing our revenue streams, including retail, e-commerce, wholesale and royalty income, to evaluate the potential impact of the adoption of the revised guidance on our consolidated financial statements, but we have not yet completed this assessment. While we do not anticipate a significant change in the timing of revenue recognition at this time, areas of focus include certain variable consideration items such as estimates of anticipated wholesale customer allowances, returns or other reserves. In February 2016, the FASB issued a new accounting standard on leasing. The new standard will require companies to record most leases as assets and liabilities on the balance sheet. For these leases, we will be required to recognize a right to use asset and lease liability for the obligations created by the leases. This guidance will be effective in Fiscal 2019 with early adoption permitted. The guidance requires the use of the modified retrospective transition approach. We are currently in the process of evaluating the impact of the new guidance on our consolidated financial statements, but considering our existing operating leases, we anticipate that the new lease guidance will have a significant impact on our consolidated balance sheet by requiring the recognition of a significant amount of lease-related assets and liabilities. In June 2016, the FASB issued revised guidance on the measurement of credit losses on financial instruments. This guidance amends the impairment model by requiring companies to use a forward-looking approach based on expected losses to estimate credit losses on certain financial instruments, including trade receivables. This guidance will be effective in Fiscal 2020 with early adoption permitted. We are currently assessing the impact that adopting this guidance will have on our consolidated financial statements. In October 2016, the FASB issued revised guidance on the recognition of current and deferred income taxes for intra-entity asset transfers. The revised guidance requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset (other than inventory) when the transfer occurs. This guidance will be effective in Fiscal 2018 with early adoption permitted. The guidance requires the use of the modified retrospective method of adoption which results in a cumulative adjustment to retained earnings as of the beginning of the period of adoption. We are currently in the process of assessing the impact that adopting this guidance will have on our consolidated financial statements. In January 2017, the FASB issued revised guidance on the subsequent measurement of goodwill which eliminates the second step from the quantitative goodwill impairment test. The revised guidance requires companies to compare the fair value of a reporting unit with its carrying amount and record an impairment charge for the amount that the carrying amount exceeds the fair value, up to the total amount of goodwill allocated to that reporting unit. This guidance will be effective in 2020 with early adoption permitted for goodwill impairment testing dates after January 1, 2017. We are currently assessing the impact that adopting this guidance will have on our consolidated financial statements. |
Operating Group Information_
Operating Group Information: | 6 Months Ended |
Jul. 29, 2017 | |
Segment Reporting [Abstract] | |
Operating Group Information: | Operating Group Information: Our business is primarily operated through our Tommy Bahama, Lilly Pulitzer, Lanier Apparel and Southern Tide operating groups. We acquired Southern Tide on April 19, 2016 during the First Quarter of Fiscal 2016. We identify our operating groups based on the way our management organizes the components of our business for purposes of allocating resources and assessing performance. Our operating group structure reflects a brand-focused management approach, emphasizing operational coordination and resource allocation across each brand's direct to consumer, wholesale and licensing operations, as applicable. Tommy Bahama, Lilly Pulitzer and Southern Tide each design, source, market and distribute apparel and related products bearing their respective trademarks and also license their trademarks for other product categories, while Lanier Apparel designs, sources and distributes branded and private label men's products. Corporate and Other is a reconciling category for reporting purposes and includes our corporate offices, substantially all financing activities, elimination of inter-segment sales, LIFO accounting adjustments for inventory, other costs that are not allocated to the operating groups and operations of our other businesses which are not included in our operating groups, including our Lyons, Georgia distribution center operations. For a more extensive description of our Tommy Bahama, Lilly Pulitzer, Lanier Apparel and Southern Tide operating groups, see Part I, Item 1. Business included in our Annual Report on Form 10-K for Fiscal 2016. The table below presents certain financial information (in thousands) about our operating groups, as well as Corporate and Other. Second Quarter Fiscal 2017 Second Quarter Fiscal 2016 First Half Fiscal 2017 First Half Fiscal 2016 Net sales Tommy Bahama $ 187,580 $ 184,111 $ 360,076 $ 346,830 Lilly Pulitzer 69,458 69,724 132,801 134,458 Lanier Apparel 17,848 19,541 41,204 46,152 Southern Tide 9,395 9,155 22,037 10,580 Corporate and Other 428 465 954 1,211 Total net sales $ 284,709 $ 282,996 $ 557,072 $ 539,231 Depreciation and amortization Tommy Bahama $ 7,714 $ 7,869 $ 15,288 $ 15,574 Lilly Pulitzer 2,079 1,867 4,074 3,595 Lanier Apparel 150 118 298 212 Southern Tide 103 210 209 267 Corporate and Other 332 380 699 750 Total depreciation and amortization $ 10,378 $ 10,444 $ 20,568 $ 20,398 Operating income (loss) Tommy Bahama $ 21,916 $ 20,578 $ 37,954 $ 33,896 Lilly Pulitzer 20,982 22,640 38,669 43,434 Lanier Apparel 195 78 1,053 2,943 Southern Tide 645 (1 ) 2,749 47 Corporate and Other (7,336 ) (4,605 ) (14,064 ) (9,624 ) Total operating income $ 36,402 $ 38,690 $ 66,361 $ 70,696 Interest expense, net 742 1,177 1,672 1,791 Earnings from continuing operations before income taxes $ 35,660 $ 37,513 $ 64,689 $ 68,905 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss: | 6 Months Ended |
Jul. 29, 2017 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Loss: | Accumulated Other Comprehensive Loss: Substantially all amounts included in accumulated other comprehensive (loss) income, as well as the change in the balance, for each period presented, reflect the net foreign currency translation adjustment related to our Tommy Bahama operations in Canada, Japan and Australia. No amounts of accumulated other comprehensive loss were reclassified from accumulated other comprehensive loss into our consolidated statements of operations during any period presented. The following table details the changes in our accumulated other comprehensive loss (in thousands), net of related income taxes, for the periods specified: Second Quarter Fiscal 2017 Second Quarter Fiscal 2016 First Half Fiscal 2017 First Half Fiscal 2016 Beginning balance $ (5,562 ) $ (4,849 ) $ (5,276 ) $ (6,829 ) Net foreign currency translation adjustment 1,151 (261 ) 865 1,719 Ending balance $ (4,411 ) $ (5,110 ) $ (4,411 ) $ (5,110 ) |
Income Taxes_
Income Taxes: | 6 Months Ended |
Jul. 29, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes: | Income Taxes: Income taxes reflects effective tax rates of 36.4% , 36.4% , 38.3% and 36.1% for the Second Quarter of Fiscal 2017 , the Second Quarter of Fiscal 2016 , the First Half of Fiscal 2017 and First Half of Fiscal 2016 , respectively. The effective tax rates for each period presented were impacted by our earnings in certain foreign jurisdictions, which have lower tax rates than domestic earnings resulting in a lower consolidated effective tax rate, as well as the net impact of other items, including the proportion of domestic versus foreign earnings or losses during the period, which varies during the year and from one year to the next. Additionally, for the First Half of Fiscal 2016 the effective tax rate was favorably impacted by the utilization of certain foreign operating loss carryforward amounts, while the First Half of Fiscal 2017 was unfavorably impacted by certain stock awards that vested during the First Quarter of Fiscal 2017, which had a higher grant date fair value for accounting purposes than the vesting date fair value for tax deduction purposes, resulting in an increase in income tax expense. |
Basis of Presentation_ (Policie
Basis of Presentation: (Policies) | 6 Months Ended |
Jul. 29, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Recently Issued Accounting Standards Applicable to Future Periods | Recently Issued Accounting Standards Applicable to Future Periods In May 2014, the FASB issued guidance which provides a single, comprehensive accounting model for revenue arising from contracts with customers. This guidance has been revised and clarified through supplemental adoption guidance subsequent to May 2014. This new revenue recognition guidance supersedes most of the existing revenue recognition guidance which specifies that revenue is recognized when risks and rewards transfer to a customer. Under the new guidance, revenue will be recognized pursuant to a five-step approach: (1) identify the contracts with the customer; (2) identify the separate performance obligations in the contracts; (3) determine the transaction price; (4) allocate the transaction price to separate performance obligations; and (5) recognize revenue when, or as, each performance obligation is satisfied. The new guidance also requires additional disclosures about the nature, timing and uncertainty of revenue and cash flow arising from customer contracts, including significant judgments and changes in judgments. The new guidance is effective for us beginning in Fiscal 2018 and may be applied via the full retrospective method or through the modified retrospective method. At this time we anticipate utilizing the modified retrospective method with a cumulative adjustment to opening retained earnings at the date of adoption in the First Quarter of Fiscal 2018. We are currently reviewing our revenue streams, including retail, e-commerce, wholesale and royalty income, to evaluate the potential impact of the adoption of the revised guidance on our consolidated financial statements, but we have not yet completed this assessment. While we do not anticipate a significant change in the timing of revenue recognition at this time, areas of focus include certain variable consideration items such as estimates of anticipated wholesale customer allowances, returns or other reserves. In February 2016, the FASB issued a new accounting standard on leasing. The new standard will require companies to record most leases as assets and liabilities on the balance sheet. For these leases, we will be required to recognize a right to use asset and lease liability for the obligations created by the leases. This guidance will be effective in Fiscal 2019 with early adoption permitted. The guidance requires the use of the modified retrospective transition approach. We are currently in the process of evaluating the impact of the new guidance on our consolidated financial statements, but considering our existing operating leases, we anticipate that the new lease guidance will have a significant impact on our consolidated balance sheet by requiring the recognition of a significant amount of lease-related assets and liabilities. In June 2016, the FASB issued revised guidance on the measurement of credit losses on financial instruments. This guidance amends the impairment model by requiring companies to use a forward-looking approach based on expected losses to estimate credit losses on certain financial instruments, including trade receivables. This guidance will be effective in Fiscal 2020 with early adoption permitted. We are currently assessing the impact that adopting this guidance will have on our consolidated financial statements. In October 2016, the FASB issued revised guidance on the recognition of current and deferred income taxes for intra-entity asset transfers. The revised guidance requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset (other than inventory) when the transfer occurs. This guidance will be effective in Fiscal 2018 with early adoption permitted. The guidance requires the use of the modified retrospective method of adoption which results in a cumulative adjustment to retained earnings as of the beginning of the period of adoption. We are currently in the process of assessing the impact that adopting this guidance will have on our consolidated financial statements. In January 2017, the FASB issued revised guidance on the subsequent measurement of goodwill which eliminates the second step from the quantitative goodwill impairment test. The revised guidance requires companies to compare the fair value of a reporting unit with its carrying amount and record an impairment charge for the amount that the carrying amount exceeds the fair value, up to the total amount of goodwill allocated to that reporting unit. This guidance will be effective in 2020 with early adoption permitted for goodwill impairment testing dates after January 1, 2017. We are currently assessing the impact that adopting this guidance will have on our consolidated financial statements. |
Operating Group Information_ (T
Operating Group Information: (Tables) | 6 Months Ended |
Jul. 29, 2017 | |
Segment Reporting [Abstract] | |
Schedule of information pertaining to the operating groups | The table below presents certain financial information (in thousands) about our operating groups, as well as Corporate and Other. Second Quarter Fiscal 2017 Second Quarter Fiscal 2016 First Half Fiscal 2017 First Half Fiscal 2016 Net sales Tommy Bahama $ 187,580 $ 184,111 $ 360,076 $ 346,830 Lilly Pulitzer 69,458 69,724 132,801 134,458 Lanier Apparel 17,848 19,541 41,204 46,152 Southern Tide 9,395 9,155 22,037 10,580 Corporate and Other 428 465 954 1,211 Total net sales $ 284,709 $ 282,996 $ 557,072 $ 539,231 Depreciation and amortization Tommy Bahama $ 7,714 $ 7,869 $ 15,288 $ 15,574 Lilly Pulitzer 2,079 1,867 4,074 3,595 Lanier Apparel 150 118 298 212 Southern Tide 103 210 209 267 Corporate and Other 332 380 699 750 Total depreciation and amortization $ 10,378 $ 10,444 $ 20,568 $ 20,398 Operating income (loss) Tommy Bahama $ 21,916 $ 20,578 $ 37,954 $ 33,896 Lilly Pulitzer 20,982 22,640 38,669 43,434 Lanier Apparel 195 78 1,053 2,943 Southern Tide 645 (1 ) 2,749 47 Corporate and Other (7,336 ) (4,605 ) (14,064 ) (9,624 ) Total operating income $ 36,402 $ 38,690 $ 66,361 $ 70,696 Interest expense, net 742 1,177 1,672 1,791 Earnings from continuing operations before income taxes $ 35,660 $ 37,513 $ 64,689 $ 68,905 |
Accumulated Other Comprehensi13
Accumulated Other Comprehensive Loss: (Tables) | 6 Months Ended |
Jul. 29, 2017 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule of changes in the entity's accumulated other comprehensive loss by component, net of related income taxes | The following table details the changes in our accumulated other comprehensive loss (in thousands), net of related income taxes, for the periods specified: Second Quarter Fiscal 2017 Second Quarter Fiscal 2016 First Half Fiscal 2017 First Half Fiscal 2016 Beginning balance $ (5,562 ) $ (4,849 ) $ (5,276 ) $ (6,829 ) Net foreign currency translation adjustment 1,151 (261 ) 865 1,719 Ending balance $ (4,411 ) $ (5,110 ) $ (4,411 ) $ (5,110 ) |
Basis of Presentation_ (Details
Basis of Presentation: (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended |
Jul. 30, 2016 | Jul. 30, 2016 | |
Selling, General and Administrative Expenses | ||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||
Prior period reclassification adjustment | $ 0.9 | $ 1.6 |
Cost of Goods Sold | ||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||
Prior period reclassification adjustment | $ (0.9) | $ (1.6) |
Operating Group Information_ (D
Operating Group Information: (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 29, 2017 | Jul. 30, 2016 | Jul. 29, 2017 | Jul. 30, 2016 | |
Operating group information | ||||
Net sales | $ 284,709 | $ 282,996 | $ 557,072 | $ 539,231 |
Depreciation and amortization | 10,378 | 10,444 | 20,568 | 20,398 |
Operating income (loss) | 36,402 | 38,690 | 66,361 | 70,696 |
Earnings from continuing operations before income taxes | 35,660 | 37,513 | 64,689 | 68,905 |
Corporate and Other | ||||
Operating group information | ||||
Net sales | 428 | 465 | 954 | 1,211 |
Depreciation and amortization | 332 | 380 | 699 | 750 |
Operating income (loss) | (7,336) | (4,605) | (14,064) | (9,624) |
Tommy Bahama | Operating Groups | ||||
Operating group information | ||||
Net sales | 187,580 | 184,111 | 360,076 | 346,830 |
Depreciation and amortization | 7,714 | 7,869 | 15,288 | 15,574 |
Operating income (loss) | 21,916 | 20,578 | 37,954 | 33,896 |
Lilly Pulitzer | Operating Groups | ||||
Operating group information | ||||
Net sales | 69,458 | 69,724 | 132,801 | 134,458 |
Depreciation and amortization | 2,079 | 1,867 | 4,074 | 3,595 |
Operating income (loss) | 20,982 | 22,640 | 38,669 | 43,434 |
Lanier Apparel | Operating Groups | ||||
Operating group information | ||||
Net sales | 17,848 | 19,541 | 41,204 | 46,152 |
Depreciation and amortization | 150 | 118 | 298 | 212 |
Operating income (loss) | 195 | 78 | 1,053 | 2,943 |
Southern Tide | Operating Groups | ||||
Operating group information | ||||
Net sales | 9,395 | 9,155 | 22,037 | 10,580 |
Depreciation and amortization | 103 | 210 | 209 | 267 |
Operating income (loss) | $ 645 | $ (1) | $ 2,749 | $ 47 |
Accumulated Other Comprehensi16
Accumulated Other Comprehensive Loss: (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 29, 2017 | Jul. 30, 2016 | Jul. 29, 2017 | Jul. 30, 2016 | |
Changes in the entity's accumulated other comprehensive loss by component, net of related income taxes | ||||
Beginning balance | $ (5,562) | $ (4,849) | $ (5,276) | $ (6,829) |
Net foreign currency translation adjustment | 1,151 | (261) | 865 | 1,719 |
Ending balance | $ (4,411) | $ (5,110) | $ (4,411) | $ (5,110) |
Income Taxes_ (Details)
Income Taxes: (Details) | 3 Months Ended | 6 Months Ended | ||
Jul. 29, 2017 | Jul. 30, 2016 | Jul. 29, 2017 | Jul. 30, 2016 | |
Income Tax Disclosure [Abstract] | ||||
Effective income tax rate, percent | 36.40% | 36.40% | 38.30% | 36.10% |