G-III Apparel (GIII) 10-Q 2 Jun 16 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Apr. 30, 2016	Jun. 01, 2016
Document And Entity Information Abstract
Entity Registrant Name	G III APPAREL GROUP LTD /DE/
Entity Central Index Key	821,002
Trading Symbol	giii
Current Fiscal Year End Date	--01-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock Shares Outstanding		45,576,997
Document Type	10-Q
Document Period End Date	Apr. 30, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Apr. 30, 2016	Jan. 31, 2016	Apr. 30, 2015
CURRENT ASSETS
Cash and cash equivalents	$ 95,448	$ 132,587	$ 85,708
Accounts receivable, net of allowances for doubtful accounts and sales discounts of $60,682, $48,574 and $74,261, respectively	213,752	221,500	208,769
Inventories	406,720	485,311	371,224
Prepaid income taxes	25,359	23,347	8,712
Deferred income taxes, net	17,584	17,564	16,064
Prepaid expenses and other current assets	26,495	22,131	22,140
Total current assets	785,358	902,440	712,617
INVESTMENTS IN UNCONSOLIDATED AFFILIATES	61,464	25,662
PROPERTY AND EQUIPMENT, NET	103,715	103,579	84,397
OTHER ASSETS	25,628	24,886	27,028
OTHER INTANGIBLES, NET	10,738	10,799	11,651
TRADEMARKS, NET	69,372	67,267	67,040
GOODWILL	50,406	49,437	49,317
TOTAL ASSETS	1,106,681	1,184,070	952,050
CURRENT LIABILITIES
Accounts payable	100,215	173,586	102,757
Accrued expenses	51,633	71,218	44,399
Total current liabilities	151,848	244,804	147,156
DEFERRED INCOME TAXES, NET	25,186	23,840	18,678
CONTINGENT PURCHASE PRICE PAYABLE			868
OTHER NON-CURRENT LIABILITIES	27,996	27,299	24,193
TOTAL LIABILITIES	$ 205,030	$ 295,943	$ 190,895
STOCKHOLDERS' EQUITY
Preferred stock; 1,000 shares authorized; No shares issued and outstanding
Common stock - $.01 par value; 120,000 shares authorized; 46,231, 45,964 and 46,212 shares issued	$ 229	$ 229	$ 230
Additional paid-in capital	358,460	353,739	333,157
Accumulated other comprehensive loss	(17,657)	(23,689)	(21,229)
Retained earnings	563,262	560,491	452,896
Common stock held in treasury, at cost - 667, 984 and 667 shares respectively	(2,643)	(2,643)	(3,899)
TOTAL STOCKHOLDERS' EQUITY	901,651	888,127	761,155
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 1,106,681	$ 1,184,070	$ 952,050

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) shares in Thousands, $ in Thousands	Apr. 30, 2016	Jan. 31, 2016	Apr. 30, 2015
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts and sales discounts on accounts receivable (in dollars)	$ 60,682	$ 74,261	$ 48,574
Preferred stock, shares authorized	1,000	1,000	1,000
Preferred stock, shares issued	0	0	0
Preferred stock, shares outstanding	0	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized	120,000	120,000	120,000
Common stock, shares issued	46,231	46,212	45,964
Treasury stock, shares	667	667	984

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2016	Apr. 30, 2015
Income Statement [Abstract]
Net sales	$ 457,403	$ 432,965
Cost of goods sold	291,734	278,538
Gross profit	165,669	154,427
Selling, general and administrative expenses	153,105	137,034
Depreciation and amortization	7,193	5,687
Operating profit	5,371	11,706
Equity income in joint venture	269
Interest and financing charges, net	(1,242)	(975)
Income before income taxes	4,398	10,731
Income tax expense	1,627	3,971
Net income	$ 2,771	$ 6,760
Basic:
Net income per common share (in dollars per share)	$ 0.06	$ 0.15
Weighted average number of shares outstanding (in shares)	45,549	44,965
Diluted:
Net income per common share (in dollars per share)	$ 0.06	$ 0.15
Weighted average number of shares outstanding (in shares)	46,942	46,210
Net income	$ 2,771	$ 6,760
Other comprehensive income (loss):
Foreign currency translation adjustments	6,032	(11,124)
Other comprehensive income (loss)	6,032	(11,124)
Comprehensive income (loss)	$ 8,803	$ (4,364)

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2016	Apr. 30, 2015
Cash flows from operating activities
Net income	$ 2,771	$ 6,760
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	7,193	5,687
Loss on disposal of fixed assets	149
Equity income in joint venture	(269)
Equity based compensation	4,473	3,625
Deferred financing charges	184	182
Changes in operating assets and liabilities:
Accounts receivable, net	7,966	(10,883)
Inventories	78,999	54,099
Income taxes, net	(1,303)	(2,514)
Prepaid expenses and other current assets	(4,280)	692
Other assets, net	(484)	(1,216)
Accounts payable, accrued expenses and other liabilities	(93,565)	(92,188)
Net cash provided by (used in) operating activities	1,834	(35,756)
Cash flows from investing activities
Investment in unconsolidated affiliate	(35,432)
Capital expenditures	(6,096)	(7,690)
Net cash used in investing activities	(41,528)	(7,690)
Cash flows from financing activities
Proceeds from exercise of equity awards	247	303
Net cash provided by financing activities	247	303
Foreign currency translation adjustments	2,308	497
Net decrease in cash and cash equivalents	(37,139)	(42,646)
Cash and cash equivalents at beginning of period	132,587	128,354
Cash and cash equivalents at end of period	95,448	85,708
Cash paid during the year for:
Interest	939	749
Income taxes	$ 2,772	$ 5,804

Basis of Presentation

Basis of Presentation	3 Months Ended
	Apr. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation	Note 1 – Basis of Presentation As used in these financial statements, the term “Company” or “G-III” refers to G-III Apparel Group, Ltd. and its subsidiaries. The Company designs, manufactures and markets an extensive range of apparel, including outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage. The Company also operates retail stores. The Company consolidates the accounts of all its wholly-owned and majority-owned subsidiaries. KL North America BV (“KLNA”) is a Dutch limited liability company which is a joint venture that is 49% owned by the Company. This investment is accounted for using the equity method of accounting. All material intercompany balances and transactions have been eliminated. Vilebrequin International SA (“Vilebrequin”), a Swiss corporation, which is wholly-owned by the Company, and KLNA report results on a calendar year basis rather than on the January 31 fiscal year basis used by the Company. The results for the three month period ended April 30, 2016 are not necessarily indicative of the results expected for the entire fiscal year, given the seasonal nature of the Company’s business. The accompanying financial statements included herein are unaudited. All adjustments (consisting of only normal recurring adjustments) necessary for a fair presentation of the financial position, results of operations and cash flows for the interim period presented have been reflected. The accompanying financial statements should be read in conjunction with the financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2016 filed with the Security and Exchange Commission (the “SEC”). On April 1, 2015, the Board of Directors approved a two-for-one stock split of the Company’s outstanding shares of common stock, to be effected in the form of a stock dividend. The stock dividend was paid to stockholders of record as of the close of market on April 20, 2015 and was effected on May 1, 2015. All share and per share information has been retroactively adjusted to reflect this stock split. The Company’s international subsidiaries use different functional currencies, which are the local selling currency. In accordance with the authoritative guidance, assets and liabilities of the Company’s foreign operations are translated from foreign currency into U.S. dollars at period-end rates, while income and expenses are translated at the weighted-average exchange rates for the period. The related translation adjustments are reflected as a foreign currency translation adjustment in accumulated other comprehensive income (loss) within stockholders’ equity. Certain reclassifications have been made to the Condensed Consolidated Statements of Cash Flows as a result of the Company’s electing to apply the amendments related to the presentation of excess tax benefits on the statement of cash flows using a retrospective transition method as prescribed by Accounting Standard Update (“ASU”) 2016-09. This change resulted in a $317,000 decrease in net cash used in operating activities and a corresponding decrease in net cash provided by financing activities in the accompanying condensed consolidated statement of cash flows for the period ended April 30, 2015, compared to the amounts previously reported.

Equity Investment

Equity Investment	3 Months Ended
	Apr. 30, 2016
Equity Investment [Abstract]
Equity Investment	Note 2 – Equity Investment In February 2016, the Company acquired a 19% minority interest in KH1, the parent company of the group that holds the worldwide rights to the Karl Lagerfeld brand. The Company paid 32.5€ million (approximately $35.4 million at the date of the transaction). This investment is intended to expand the partnership between the Company and the Karl Lagerfeld brand and extend their business development opportunities on a global scale. The investment in KH1 is reflected in Investment in Unconsolidated Affiliates on the Condensed Consolidated Balance Sheets at April 30, 2016. In June 2015, the Company entered into a joint venture agreement with Karl Lagerfeld Group BV. The Company acquired a 49% ownership interest in KLNA, an entity that holds brand rights to Karl Lagerfeld trademarks for all consumer products (except eyewear, fragrance, cosmetics, watches, jewelry and hospitality services) and apparel in the United States, Canada and Mexico. The Company is also the first licensee of the joint venture and has been granted a five year license (with two renewals of five years each) for women’s apparel, women’s handbags, women’s footwear and men’s outerwear. The Company began shipping Karl Lagerfeld sportswear, dresses, women’s outerwear and handbags in the third quarter of fiscal 2016 and Karl Lagerfeld women’s footwear in the first quarter of fiscal 2017.

Inventories

Inventories	3 Months Ended
	Apr. 30, 2016
Inventory Disclosure [Abstract]
Inventories	Note 3 – Inventories Wholesale inventories are stated at the lower of cost (determined by the first-in, first out method) or market which comprises a significant portion of the Company’s inventory. Retail inventories are valued at the lower of cost or market as determined by the retail inventory method. Vilebrequin inventories are stated at the lower of cost (determined by the weighted average method) or market. Inventories consist of: April 30, 2016 April 30, 2015 January 31, 2016 (In thousands) Finished goods $ 405,658 $ 363,458 $ 484,805 Raw materials and work-in-process 1,062 7,766 506 $ 406,720 $ 371,224 $ 485,311

Net Income per Common Share

Net Income per Common Share	3 Months Ended
	Apr. 30, 2016
Earnings Per Share [Abstract]
Net Income per Common Share	Note 4 – Net Income per Common Share Basic net income per common share has been computed using the weighted average number of common shares outstanding during each period. Diluted net income per share is computed using the weighted average number of common shares and potential dilutive common shares, consisting of unvested restricted stock awards and stock options outstanding, during the period. In addition, all share based payments outstanding that vest based on the achievement of performance and/or market price conditions, and for which the respective performance and/or market price conditions have not been achieved, have been excluded from the diluted per share calculation. Approximately 510,800 and 160,000 shares of common stock have been excluded from the diluted net income per share calculation for the three months ended April 30, 2016 and 2015, respectively. For the three months ended April 30, 2016 and 2015, 19,200 and 23,000 shares of common stock, respectively, were issued in connection with the exercise or vesting of equity awards. On February 1, 2016, the Company adopted the Accounting Standard Update 2016-09 (see Note 7 for further details). The new guidance prescribes that excess tax benefits are no longer recognized in additional paid in capital. The assumed proceeds from applying the treasury stock method when computing net income per share is amended to exclude the amount of excess tax benefits that would be recognized in additional paid-in capital. This change in accounting results in approximately 350,000 additional diluted common shares being included in the diluted net income per share calculation for the three months ended April 30, 2016. The following table reconciles the numerators and denominators used in the calculation of basic and diluted net income per share: Three Months Ended 2016 2015 (In thousands, except per share Net income $ 2,771 $ 6,760 Basic net income per share: Basic common shares 45,549 44,965 Basic net income per share $ 0.06 $ 0.15 Diluted net income per share: Basic common shares 45,549 44,965 Restricted stock awards and stock options 1,393 1,245 Diluted common shares 46,942 46,210 Diluted net income per share $ 0.06 $ 0.15

Notes Payable

Notes Payable	3 Months Ended
	Apr. 30, 2016
Debt Disclosure [Abstract]
Notes Payable	Note 5 – Notes Payable The Company’s credit agreement with JPMorgan Chase Bank, N.A., as Administrative Agent for a group of lenders, is a five year senior secured credit facility through August 2017 providing for borrowings in the aggregate principal amount of up to $450 million. Amounts available under the credit agreement are subject to borrowing base formulas and other advances as specified in the credit agreement. As of April 30, 2016, there was $407.0 million available under the credit agreement. Borrowings bear interest, at the Company’s option, at LIBOR plus a margin of 1.5% to 2.0% or prime plus a margin of 0.5% to 1.0%, with the applicable margin determined based on availability under the credit agreement. The credit agreement requires the Company to maintain a minimum fixed charge coverage ratio, as defined, and, under certain circumstances, permits the Company to make payments for cash dividends, stock redemptions and share repurchases subject to compliance with certain covenants. As of April 30, 2016, the Company was in compliance with these covenants. The credit agreement is secured by all of the assets of G-III Apparel Group, Ltd. and its subsidiaries, G-III Leather Fashions, Inc., Riviera Sun, Inc., CK Outerwear, LLC, Andrew & Suzanne Company Inc., AM Retail Group, Inc., G-III Apparel Canada ULC, G-III License Company, LLC and AM Apparel Holdings, Inc. At April 30, 2016 and April 30, 2015 the Company had no borrowings outstanding under the Company’s credit agreement.

Segments

Segments	3 Months Ended
	Apr. 30, 2016
Segment Reporting [Abstract]
Segments	Note 6 – Segments The Company’s reportable segments are business units that offer products through different channels of distribution. The Company has two reportable segments: wholesale operations and retail operations. The wholesale operations segment includes sales of products under brands licensed to the Company from third parties, as well as sales of products under the Company’s own brands and private label brands. The retail operations segment consists primarily of sales by the Wilsons Leather and G.H. Bass stores, as well as a limited number of Calvin Klein Performance stores. The following information, in thousands, is presented for the three month periods indicated below: Three Months Ended April 30, 2016 Wholesale Retail Elimination (1) Total Net sales $ 382,371 $ 94,992 $ (19,960 ) $ 457,403 Cost of goods sold 257,995 53,699 (19,960 ) 291,734 Gross profit 124,376 41,293 — 165,669 Selling, general and administrative 96,938 56,167 — 153,105 Depreciation and amortization 5,000 2,193 — 7,193 Operating profit (loss) $ 22,438 $ (17,067 ) $ — $ 5,371 Three Months Ended April 30, 2015 Wholesale Retail Elimination (1) Total Net sales $ 352,485 $ 102,529 $ (22,049 ) $ 432,965 Cost of goods sold 245,409 55,178 (22,049 ) 278,538 Gross profit 107,076 47,351 — 154,427 Selling, general and administrative 84,594 52,440 — 137,034 Depreciation and amortization 3,931 1,756 — 5,687 Operating profit (loss) $ 18,551 $ (6,845 ) $ — $ 11,706 (1) Represents intersegment sales to the Company’s retail operations. The total assets for each of the Company’s reportable segments are as follows: April 30, 2016 April 30, 2015 January 31, 2016 (In thousands) Wholesale $ 692,039 $ 625,109 $ 763,353 Retail 199,560 190,753 210,118 Corporate 215,082 136,188 210,599 Total Assets $ 1,106,681 $ 952,050 $ 1,184,070

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Apr. 30, 2016
Accounting Changes And Error Corrections [Abstract]
Recent Accounting Pronouncements	Note 7 – Recent Accounting Pronouncements Recently Adopted Accounting Guidance In March 2016, the FASB issued ASU 2016-09, “ Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting Accounting Guidance Issued Being Evaluated for Adoption In April 2016, the FASB issued ASU 2016-10, “ Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing In March 2016, the FASB issued ASU 2016-08, “ Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) In March 2016, the FASB issued ASU 2016-07, “ Investments—Equity Method and Joint Ventures (Topic 323: Simplifying the Transition to the Equity Method of Accounting) In February 2016, the FASB issued ASU 2016-02, “ Leases (Topic 842) In January 2016, the FASB issued ASU 2016-01, “ Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In November 2015, the FASB issued ASU 2015-17, “ Income Taxes (Topic 740) — Balance Sheet Classification of Deferred Taxes In July 2015, the FASB issued ASU 2015-11, “ Inventory (Topic 330): Simplifying the Measurement of Inventory In April 2015, the FASB issued ASU 2015-05, “ Intangibles — Goodwill and Other — Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Apr. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation	As used in these financial statements, the term “Company” or “G-III” refers to G-III Apparel Group, Ltd. and its subsidiaries. The Company designs, manufactures and markets an extensive range of apparel, including outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage. The Company also operates retail stores. The Company consolidates the accounts of all its wholly-owned and majority-owned subsidiaries. KL North America BV (“KLNA”) is a Dutch limited liability company which is a joint venture that is 49% owned by the Company. This investment is accounted for using the equity method of accounting. All material intercompany balances and transactions have been eliminated. Vilebrequin International SA (“Vilebrequin”), a Swiss corporation, which is wholly-owned by the Company, and KLNA report results on a calendar year basis rather than on the January 31 fiscal year basis used by the Company. The results for the three month period ended April 30, 2016 are not necessarily indicative of the results expected for the entire fiscal year, given the seasonal nature of the Company’s business. The accompanying financial statements included herein are unaudited. All adjustments (consisting of only normal recurring adjustments) necessary for a fair presentation of the financial position, results of operations and cash flows for the interim period presented have been reflected. The accompanying financial statements should be read in conjunction with the financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2016 filed with the Security and Exchange Commission (the “SEC”). On April 1, 2015, the Board of Directors approved a two-for-one stock split of the Company’s outstanding shares of common stock, to be effected in the form of a stock dividend. The stock dividend was paid to stockholders of record as of the close of market on April 20, 2015 and was effected on May 1, 2015. All share and per share information has been retroactively adjusted to reflect this stock split. The Company’s international subsidiaries use different functional currencies, which are the local selling currency. In accordance with the authoritative guidance, assets and liabilities of the Company’s foreign operations are translated from foreign currency into U.S. dollars at period-end rates, while income and expenses are translated at the weighted-average exchange rates for the period. The related translation adjustments are reflected as a foreign currency translation adjustment in accumulated other comprehensive income (loss) within stockholders’ equity. Certain reclassifications have been made to the Condensed Consolidated Statements of Cash Flows as a result of the Company’s electing to apply the amendments related to the presentation of excess tax benefits on the statement of cash flows using a retrospective transition method as prescribed by Accounting Standard Update (“ASU”) 2016-09. This change resulted in a $317,000 decrease in net cash used in operating activities and a corresponding decrease in net cash provided by financing activities in the accompanying condensed consolidated statement of cash flows for the period ended April 30, 2015, compared to the amounts previously reported.
Recent Accounting Pronouncements	Recently Adopted Accounting Guidance In March 2016, the FASB issued ASU 2016-09, “ Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting Accounting Guidance Issued Being Evaluated for Adoption In April 2016, the FASB issued ASU 2016-10, “ Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing In March 2016, the FASB issued ASU 2016-08, “ Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) In March 2016, the FASB issued ASU 2016-07, “ Investments—Equity Method and Joint Ventures (Topic 323: Simplifying the Transition to the Equity Method of Accounting) In February 2016, the FASB issued ASU 2016-02, “ Leases (Topic 842) In January 2016, the FASB issued ASU 2016-01, “ Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In November 2015, the FASB issued ASU 2015-17, “ Income Taxes (Topic 740) — Balance Sheet Classification of Deferred Taxes In July 2015, the FASB issued ASU 2015-11, “ Inventory (Topic 330): Simplifying the Measurement of Inventory In April 2015, the FASB issued ASU 2015-05, “ Intangibles — Goodwill and Other — Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Apr. 30, 2016
Inventory Disclosure [Abstract]
Schedule of inventories	April 30, 2016 April 30, 2015 January 31, 2016 (In thousands) Finished goods $ 405,658 $ 363,458 $ 484,805 Raw materials and work-in-process 1,062 7,766 506 $ 406,720 $ 371,224 $ 485,311

Net Income per Common Share (Ta

Net Income per Common Share (Tables)	3 Months Ended
	Apr. 30, 2016
Earnings Per Share [Abstract]
Schedule of reconciliation between basic and diluted net income per share	Three Months Ended 2016 2015 (In thousands, except per share Net income $ 2,771 $ 6,760 Basic net income per share: Basic common shares 45,549 44,965 Basic net income per share $ 0.06 $ 0.15 Diluted net income per share: Basic common shares 45,549 44,965 Restricted stock awards and stock options 1,393 1,245 Diluted common shares 46,942 46,210 Diluted net income per share $ 0.06 $ 0.15

Segments (Tables)

Segments (Tables)	3 Months Ended
	Apr. 30, 2016
Segment Reporting [Abstract]
Schedule of information regarding reportable segments	Three Months Ended April 30, 2016 Wholesale Retail Elimination (1) Total Net sales $ 382,371 $ 94,992 $ (19,960 ) $ 457,403 Cost of goods sold 257,995 53,699 (19,960 ) 291,734 Gross profit 124,376 41,293 — 165,669 Selling, general and administrative 96,938 56,167 — 153,105 Depreciation and amortization 5,000 2,193 — 7,193 Operating profit (loss) $ 22,438 $ (17,067 ) $ — $ 5,371 Three Months Ended April 30, 2015 Wholesale Retail Elimination (1) Total Net sales $ 352,485 $ 102,529 $ (22,049 ) $ 432,965 Cost of goods sold 245,409 55,178 (22,049 ) 278,538 Gross profit 107,076 47,351 — 154,427 Selling, general and administrative 84,594 52,440 — 137,034 Depreciation and amortization 3,931 1,756 — 5,687 Operating profit (loss) $ 18,551 $ (6,845 ) $ — $ 11,706 (1) Represents intersegment sales to the Company’s retail operations.
Schedule of total assets for each reportable segments	April 30, 2016 April 30, 2015 January 31, 2016 (In thousands) Wholesale $ 692,039 $ 625,109 $ 763,353 Retail 199,560 190,753 210,118 Corporate 215,082 136,188 210,599 Total Assets $ 1,106,681 $ 952,050 $ 1,184,070

Basis of Presentation (Detail T

Basis of Presentation (Detail Textuals)	3 Months Ended
	Apr. 30, 2016	Apr. 30, 2015USD ($)
Schedule of Equity Method Investments [Line Items]
Stock split of common stock	2
Decrease in net cash used in operating activities		$ 317,000
KL North America BV ("KLNA") | Equity method of accounting
Schedule of Equity Method Investments [Line Items]
Percentage of ownership interest	49.00%

Equity Investment (Detail Textu

Equity Investment (Detail Textuals) € in Millions, $ in Millions	1 Months Ended
	Jun. 30, 2015	Feb. 28, 2016USD ($)	Feb. 28, 2016EUR (€)
Karl Lagerfeld Group BV ("KLBV") | Karl Lagerfeld North America ("KLNA")
Investment Holdings [Line Items]
Percentage of ownership interest	49.00%
Term of license	5 years
Number of 5 year renewals of license	2
Kingdom Holding 1 BV ("KH1") | Karl Lagerfeld brand
Investment Holdings [Line Items]
Percentage of ownership interest		19.00%	19.00%
Cost of acquisition		$ 35.4	€ 32.5

Inventories - Summary of invent

Inventories - Summary of inventories (Details) - USD ($) $ in Thousands	Apr. 30, 2016	Jan. 31, 2016	Apr. 30, 2015
Inventory Disclosure [Abstract]
Finished goods	$ 405,658	$ 484,805	$ 363,458
Raw materials and work-in-process	1,062	506	7,766
Inventories	$ 406,720	$ 485,311	$ 371,224

Net Income per Common Share - R

Net Income per Common Share - Reconciliation between basic and diluted net income per share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Apr. 30, 2016	Apr. 30, 2015
Earnings Per Share [Abstract]
Net income	$ 2,771	$ 6,760
Basic net income per share:
Basic common shares	45,549	44,965
Basic net income per share (in dollars per share)	$ 0.06	$ 0.15
Diluted net income per share:
Basic common shares	45,549	44,965
Restricted stock awards and stock options	1,393	1,245
Diluted common shares	46,942	46,210
Diluted net income per share (in dollars per share)	$ 0.06	$ 0.15

Net Income per Common Share (De

Net Income per Common Share (Detail Textuals) - shares	3 Months Ended
	Apr. 30, 2016	Apr. 30, 2015
Earnings Per Share [Abstract]
Common stock excluded from the diluted net income per share calculation	510,800	160,000
Common stock issued in connection with exercise or vesting of equity awards	19,200	23,000
Additional diluted common shares being included in diluted net income per share calculation	350,000

Notes Payable (Detail Textuals)

Notes Payable (Detail Textuals) - Senior secured credit facility $ in Millions	3 Months Ended
	Apr. 30, 2016USD ($)
Debt Instrument [Line Items]
Term of senior secured credit facility	5 years
Senior secured credit facility	$ 450
Amount available under credit agreement	$ 407
LIBOR plus | Minimum
Debt Instrument [Line Items]
Spread interest rate	1.50%
LIBOR plus | Maximum
Debt Instrument [Line Items]
Spread interest rate	2.00%
Prime plus | Minimum
Debt Instrument [Line Items]
Spread interest rate	0.50%
Prime plus | Maximum
Debt Instrument [Line Items]
Spread interest rate	1.00%

Segments - Information regardin

Segments - Information regarding reportable segments (Details) - USD ($) $ in Thousands		3 Months Ended
		Apr. 30, 2016	Apr. 30, 2015
Segment Reporting Information [Line Items]
Net sales		$ 457,403	$ 432,965
Cost of goods sold		291,734	278,538
Gross profit		165,669	154,427
Selling, general and administrative		153,105	137,034
Depreciation and amortization		7,193	5,687
Operating profit (loss)		5,371	11,706
Operating Segments | Wholesale
Segment Reporting Information [Line Items]
Net sales		382,371	352,485
Cost of goods sold		257,995	245,409
Gross profit		124,376	107,076
Selling, general and administrative		96,938	84,594
Depreciation and amortization		5,000	3,931
Operating profit (loss)		22,438	18,551
Operating Segments | Retail
Segment Reporting Information [Line Items]
Net sales		94,992	102,529
Cost of goods sold		53,699	55,178
Gross profit		41,293	47,351
Selling, general and administrative		56,167	52,440
Depreciation and amortization		2,193	1,756
Operating profit (loss)		(17,067)	(6,845)
Elimination
Segment Reporting Information [Line Items]
Net sales	[1]	(19,960)	(22,049)
Cost of goods sold	[1]	$ (19,960)	$ (22,049)
Gross profit	[1]
Selling, general and administrative	[1]
Depreciation and amortization	[1]
Operating profit (loss)	[1]
[1]	Represents intersegment sales to the Company's retail operations.

Segments - Information of total

Segments - Information of total assets for company's reportable segments (Details 1) - USD ($) $ in Thousands	Apr. 30, 2016	Jan. 31, 2016	Apr. 30, 2015
Segment Reporting Information [Line Items]
Total Assets	$ 1,106,681	$ 1,184,070	$ 952,050
Wholesale
Segment Reporting Information [Line Items]
Total Assets	692,039	763,353	625,109
Retail
Segment Reporting Information [Line Items]
Total Assets	199,560	210,118	190,753
Corporate
Segment Reporting Information [Line Items]
Total Assets	$ 215,082	$ 210,599	$ 136,188

Segments (Detail Textuals)

Segments (Detail Textuals)	3 Months Ended
	Apr. 30, 2016Segment
Segment Reporting [Abstract]
Number of reportable segments	2

Recent Accounting Pronounceme26

Recent Accounting Pronouncements (Detail Textuals) $ in Thousands	3 Months Ended
	Apr. 30, 2016USD ($)
Accounting Changes And Error Corrections [Abstract]
Recognition of excess tax benefits on adoption of ASU 2016-09	$ 37,000