Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Nov. 02, 2013 | Nov. 27, 2013 | |
Entity Information [Line Items] | ' | ' |
Entity Registrant Name | 'BANK JOS A CLOTHIERS INC /DE/ | ' |
Entity Central Index Key | '0000920033 | ' |
Current Fiscal Year End Date | '--02-01 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Document Type | '10-Q | ' |
Document Period End Date | 2-Nov-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Amendment Flag | 'false | ' |
Entity Common Stock, Shares Outstanding | ' | 27,988,392 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Income (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Thousands, except Per Share data, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 | ||
Income Statement [Abstract] | ' | ' | ' | ' | ||
Net sales | $247,468 | [1] | $232,851 | [1] | $676,052 | $694,548 |
Cost of goods sold | 105,360 | 100,205 | 277,394 | 281,255 | ||
Gross profit | 142,108 | 132,646 | 398,658 | 413,293 | ||
Operating expenses: | ' | ' | ' | ' | ||
Sales and marketing, including occupancy costs | 101,273 | 94,354 | 286,599 | 276,306 | ||
General and administrative | 19,277 | 17,124 | 54,420 | 54,295 | ||
Total operating expenses | 120,550 | 111,478 | 341,019 | 330,601 | ||
Operating income | 21,558 | [2] | 21,168 | [2] | 57,639 | 82,692 |
Other income (expense): | ' | ' | ' | ' | ||
Interest income | 69 | 117 | 335 | 286 | ||
Interest expense | -5 | -4 | -14 | -21 | ||
Total other income (expense) | 64 | 113 | 321 | 265 | ||
Income before provision for income taxes | 21,622 | 21,281 | 57,960 | 82,957 | ||
Provision for income taxes | 8,006 | 7,976 | 22,007 | 31,662 | ||
Net income | $13,616 | $13,305 | $35,953 | $51,295 | ||
Earnings per share: | ' | ' | ' | ' | ||
Basic (in dollars per share) | $0.49 | $0.48 | $1.29 | $1.84 | ||
Diluted (in dollars per share) | $0.49 | $0.47 | $1.28 | $1.83 | ||
Weighted average shares outstanding: | ' | ' | ' | ' | ||
Basic (in shares) | 27,988 | 27,933 | 27,978 | 27,883 | ||
Diluted (in shares) | 28,054 | 28,017 | 28,050 | 28,005 | ||
[1] | Stores net sales represent all Full-line Store sales. Direct Marketing net sales represent catalog call center and Internet sales. Net sales from operating segments below the GAAP quantitative thresholds are attributable primarily to our two other operating segments — Factory stores and Franchise stores. These operating segments have never met any of the quantitative thresholds for determining reportable segments and are included in “Corporate and Other.†| |||||
[2] | Operating income (loss) for the Stores and Direct Marketing segments represents profit before allocations of overhead from the corporate office and the distribution centers (except order fulfillment costs which are allocated to Direct Marketing), interest and income taxes (“four wall†contribution). Total Company shipping costs to customers of approximately $3.6 million and $4.9 million for the third quarter of fiscal years 2012 and 2013, respectively, and approximately $11.4 million and $13.4 million for the first nine months of fiscal years 2012 and 2013, respectively, were recorded to “Sales and marketing, including occupancy costs†in the Condensed Consolidated Statements of Income. Operating income (loss) for “Corporate and Other†consists primarily of costs included in general and administrative costs and operating income or loss related to the Factory stores and the Franchise stores operating segments. Total operating income represents profit before interest and income taxes. |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Nov. 02, 2013 | Feb. 02, 2013 |
In Thousands, unless otherwise specified | ||
CURRENT ASSETS: | ' | ' |
Cash and cash equivalents | $85,023 | $71,288 |
Short-term investments | 254,922 | 305,833 |
Accounts receivable, net | 17,238 | 10,644 |
Inventories: | ' | ' |
Finished goods | 358,569 | 317,635 |
Raw materials | 10,056 | 12,867 |
Total inventories | 368,625 | 330,502 |
Prepaid expenses and other current assets | 26,069 | 23,922 |
Total current assets | 751,877 | 742,189 |
NONCURRENT ASSETS: | ' | ' |
Property, plant and equipment, net | 155,403 | 152,360 |
Other noncurrent assets | 301 | 298 |
Total assets | 907,581 | 894,847 |
CURRENT LIABILITIES: | ' | ' |
Accounts payable | 40,572 | 53,782 |
Accrued expenses | 97,035 | 104,639 |
Deferred tax liability — current | 11,848 | 11,928 |
Total current liabilities | 149,455 | 170,349 |
NONCURRENT LIABILITIES: | ' | ' |
Deferred rent | 43,178 | 45,531 |
Deferred tax liability — noncurrent | 9,189 | 9,791 |
Other noncurrent liabilities | 1,514 | 1,613 |
Total liabilities | 203,336 | 227,284 |
COMMITMENTS AND CONTINGENCIES | ' | ' |
STOCKHOLDERS’ EQUITY: | ' | ' |
Preferred Stock | 0 | 0 |
Common stock | 279 | 279 |
Additional paid-in capital | 95,487 | 94,757 |
Retained earnings | 608,670 | 572,718 |
Accumulated other comprehensive income (loss) | -191 | -191 |
Total stockholders’ equity | 704,245 | 667,563 |
Total liabilities and stockholders’ equity | $907,581 | $894,847 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 |
Cash flows from operating activities: | ' | ' |
Net income | $35,953 | $51,295 |
Adjustments to reconcile net income to net cash (used in) operating activities: | ' | ' |
Depreciation and amortization | 22,132 | 20,910 |
Loss on disposals of property, plant and equipment | 201 | 207 |
Non-cash equity compensation | 1,260 | 1,688 |
(Decrease) in deferred taxes | -682 | -915 |
Net (increase) in operating working capital and other components | -73,391 | -102,821 |
Net cash (used in) operating activities | -14,527 | -29,636 |
Cash flows from investing activities: | ' | ' |
Capital expenditures | -22,118 | -22,423 |
Proceeds from maturities of short-term investments | 430,767 | 352,522 |
Payments to acquire short-term investments | -379,856 | -358,755 |
Net cash provided by (used in) investing activities | 28,793 | -28,656 |
Cash flows from financing activities: | ' | ' |
Income tax benefit (detriment) from equity compensation plans | -40 | 72 |
Net proceeds from issuance of common stock | 0 | 556 |
Tax payments related to equity compensation plans | -491 | -634 |
Net cash (used in) financing activities | -531 | -6 |
Net increase (decrease) in cash and cash equivalents | 13,735 | -58,298 |
Cash and cash equivalents - beginning of period | 71,288 | 87,230 |
Cash and cash equivalents - end of period | $85,023 | $28,932 |
Basis_of_Presentation
Basis of Presentation | 9 Months Ended | |
Nov. 02, 2013 | ||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |
BASIS OF PRESENTATION | ' | |
BASIS OF PRESENTATION | ||
Jos. A. Bank Clothiers, Inc. is a nationwide designer, manufacturer, retailer and direct marketer (through stores, catalog and Internet) of men’s tailored and casual clothing and accessories and is a retailer of tuxedo rental products. The unaudited condensed consolidated financial statements include the accounts of Jos. A. Bank Clothiers, Inc. and its wholly-owned subsidiaries (collectively referred to as “we”, “our” or “us”). All intercompany balances and transactions have been eliminated in consolidation. | ||
The results of operations for the interim periods shown in this report are not necessarily indicative of results to be expected for the fiscal year. In the opinion of management, the information contained herein reflects all adjustments necessary to make the results of operations for the interim periods a fair statement of the operating results for these periods. These adjustments are of a normal recurring nature. | ||
We operate on a 52-53 week fiscal year ending on the Saturday closest to January 31. The following fiscal years ended or will end on the dates indicated and will be referred to herein by their fiscal year designations: | ||
Fiscal year 2008 | January 31, 2009 | |
Fiscal year 2009 | January 30, 2010 | |
Fiscal year 2010 | January 29, 2011 | |
Fiscal year 2011 | January 28, 2012 | |
Fiscal year 2012 | February 2, 2013 | |
Fiscal year 2013 | February 1, 2014 | |
Fiscal year 2014 | January 31, 2015 | |
Each fiscal year noted above consisted or consists of 52 weeks except fiscal year 2012, which consisted of 53 weeks. | ||
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X and therefore do not include all of the information and footnotes required by GAAP for comparable annual financial statements. Certain information has been derived from our audited Annual Report on Form 10-K for fiscal year 2012 and certain notes and other information have been condensed or omitted from the interim financial statements presented in this Quarterly Report on Form 10-Q. Therefore, these financial statements should be read in conjunction with our Annual Report on Form 10-K for fiscal year 2012. |
Significant_Accounting_Policie
Significant Accounting Policies | 9 Months Ended |
Nov. 02, 2013 | |
Accounting Policies [Abstract] | ' |
SIGNIFICANT ACCOUNTING POLICIES | ' |
SIGNIFICANT ACCOUNTING POLICIES | |
Cash and Cash Equivalents - Cash and cash equivalents include bank deposit accounts, money market accounts and other highly liquid investments with original maturities of 90 days or less. At November 2, 2013, substantially all of the cash and cash equivalents were invested in U.S. Treasury bills with original maturities of 90 days or less and overnight federally-sponsored agency notes. | |
Short-term Investments - Short-term investments consist of investments in securities with remaining maturities of less than one year, excluding investments with original maturities of 90 days or less. At November 2, 2013, short-term investments consisted solely of U.S. Treasury bills with remaining maturities ranging from less than one month to five months. These investments are classified as held-to-maturity and their market values approximate their carrying values. | |
Inventories - We record inventory at the lower of cost or market (“LCM”). Cost is determined using the first-in, first-out method. We capitalize into inventory certain sourcing, warehousing and freight delivery costs associated with shipping our merchandise to the point of sale. We periodically review quantities of inventories on hand and compare these amounts to the expected sales of each product. We record a charge to cost of goods sold for the amount required to reduce the carrying value of inventory to estimated net realizable value. | |
Landlord Contributions - We typically receive reimbursement from landlords for a portion of the cost of leasehold improvements for new stores and, occasionally, for renovations and relocations. These landlord contributions are initially accounted for as an increase to Deferred rent and as an increase to Prepaid expenses and other current assets when the related store is opened. When collected, we record cash and reduce the prepaid expenses and other current assets account. The collection of landlord contributions is presented in the Condensed Consolidated Statements of Cash Flows as an operating activity. The deferred rent is amortized over the lease term in a manner that is consistent with our policy to straight-line rent expense over the term of the lease. The amortization is recorded as a reduction to sales and marketing expense, which is consistent with the classification of lease expense. | |
Gift Cards and Certificates - We sell gift cards and gift certificates to individuals and companies. Our incentive gift certificates are used by various companies as a reward for achievement for their employees. We also redeem proprietary gift cards and gift certificates marketed by third-party premium/incentive companies. We record a liability when a gift card/certificate is purchased. As the gift card/certificate is redeemed, we reduce the liability and record revenue. Substantially all of our gift cards/certificates do not have expiration dates and they are all subject to state escheatment laws. Based on historical experience, gift cards/certificates redemptions after the escheatment due date are remote and we recognize any income (also referred to as “breakage”) on these unredeemed gift cards/certificates on a specific identification basis on the escheatment due date. | |
Tuxedo Rental Products - Revenues from tuxedo rental products are recognized on a gross basis upon delivery of rental products to customers. When a customer orders a tuxedo rental from us, we place an order with a national distributor who delivers the product to our stores, typically within several days prior to the intended use. The national distributor owns the rental product and charges the Company a rental cost for each rental and delivery which is recorded to Cost of goods sold. | |
Equity Compensation -We account for our equity awards in accordance with FASB ASC 718, “Share-Based Payment” (“ASC 718”), which requires the compensation cost resulting from all share-based awards to be recognized in the financial statements. The amount of compensation is measured based on the grant-date fair value of the awards and is recognized over the vesting period of the awards. The vesting of awards to both the officers and directors is subject to service conditions being met, currently ranging from one to three years. Additionally, the vesting of awards to officers is subject to performance conditions being met in the fiscal year that the awards are granted such as, among other things, the attainment of certain annual earnings and performance goals. For these officer awards, we estimate the probability that such goals will be attained based on results-to-date at each interim quarter-end and record compensation cost to "General and administrative expense" for these awards based on the awards projected to vest. Share-based compensation expense recognized for the third quarter and first nine months of fiscal year 2013 related to equity awards issued under the Jos. A. Bank Clothiers, Inc. 2010 Equity Incentive Plan (“Equity Incentive Plan”) was $0.3 million and $1.3 million, respectively, and the tax benefit recognized related to this compensation for each of the third quarter and the first nine months was $0.1 million and $0.5 million. Share based compensation expense for the third quarter and first nine months of fiscal year 2012 was $0.2 million and $1.6 million, respectively, and the tax benefit recognized related to this compensation was $0.1 million and $0.6 million. | |
Recently Proposed Amendments to Accounting Standards - In May 2013, the FASB issued an updated exposure draft, “Leases” (the “Exposure Draft”), which would replace the existing guidance in ASC 840, “Leases.” Under the Exposure Draft, a lessee's rights and obligations under all leases, including existing and new arrangements, would be recognized as assets and liabilities, respectively, on the balance sheet. A final standard is expected to be issued in 2014 and is expected to be effective no earlier than our fiscal year 2017 annual reporting period. If this lease guidance becomes effective on the terms currently proposed by FASB, it will likely have a significant impact on our consolidated financial statements. However, as the standard-setting process is still ongoing, we are unable to determine at this time the impact this proposed change in accounting may have on our consolidated financial statements. |
Supplemental_Cash_Flow_Disclos
Supplemental Cash Flow Disclosure | 9 Months Ended | |||||||
Nov. 02, 2013 | ||||||||
Supplemental Cash Flow Elements [Abstract] | ' | |||||||
SUPPLEMENTAL CASH FLOW DISCLOSURE | ' | |||||||
SUPPLEMENTAL CASH FLOW DISCLOSURE | ||||||||
The net changes in operating working capital and other components consist of the following: | ||||||||
Nine Months Ended | ||||||||
October 27, 2012 | November 2, 2013 | |||||||
(In thousands) | ||||||||
(Increase) in accounts receivable | $ | (1,963 | ) | $ | (6,594 | ) | ||
(Increase) in inventories | (74,970 | ) | (38,123 | ) | ||||
(Increase) in prepaids and other assets | (9,604 | ) | (2,150 | ) | ||||
(Decrease) in accounts payable | (13,645 | ) | (13,210 | ) | ||||
(Decrease) in accrued expenses | (1,708 | ) | (10,862 | ) | ||||
(Decrease) in deferred rent and other noncurrent liabilities | (931 | ) | (2,452 | ) | ||||
Net (increase) in operating working capital and other components | $ | (102,821 | ) | $ | (73,391 | ) | ||
Interest and income taxes paid were as follows: | ||||||||
Nine Months Ended | ||||||||
October 27, 2012 | November 2, 2013 | |||||||
(In thousands) | ||||||||
Interest paid | $ | 21 | $ | 14 | ||||
Income taxes paid | $ | 43,223 | $ | 23,220 | ||||
As of October 27, 2012 and November 2, 2013, included in “Property, plant and equipment, net” and “Accrued expenses” in the Condensed Consolidated Balance Sheets are $13.1 million and $11.9 million, respectively, of accrued property, plant and equipment additions that have been incurred but not invoiced by vendors, and therefore, not paid by the end of the respective periods. The net increase in accrued property, plant, and equipment additions of $6.3 million and $3.3 million for the first nine months of fiscal years 2012 and 2013, respectively, and are excluded from payments for capital expenditures and changes in accrued expenses in the Condensed Consolidated Statements of Cash Flows, as these changes are non-cash items. |
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | |||||||||||
Nov. 02, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
EARNINGS PER SHARE | ' | |||||||||||
EARNINGS PER SHARE | ||||||||||||
Basic earnings per share (“EPS”) is calculated by dividing net income by the weighted average number of common shares outstanding for the period. Diluted EPS is calculated by dividing net income by the diluted weighted average common shares, which reflects the potential dilution related to common stock equivalents. The weighted average shares used to calculate basic and diluted EPS are as follows: | ||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||
October 27, 2012 | November 2, 2013 | October 27, 2012 | November 2, 2013 | |||||||||
(In thousands) | (In thousands) | |||||||||||
Weighted average shares outstanding for basic EPS | 27,933 | 27,988 | 27,883 | 27,978 | ||||||||
Dilutive effect of common stock equivalents | 84 | 66 | 122 | 72 | ||||||||
Weighted average shares outstanding for diluted EPS | 28,017 | 28,054 | 28,005 | 28,050 | ||||||||
We use the treasury method for calculating the dilutive effect of common stock equivalents. For the third quarter and the first nine months of fiscal years 2012 and 2013, there were no anti-dilutive common stock equivalents. |
Income_Taxes
Income Taxes | 9 Months Ended |
Nov. 02, 2013 | |
Income Tax Disclosure [Abstract] | ' |
INCOME TAXES | ' |
INCOME TAXES | |
Income taxes are accounted for under the asset and liability method in accordance with FASB ASC 740, “Income Taxes,” (“ASC 740”). Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the Condensed Consolidated Statements of Income in the period that includes the enactment date. | |
We account for uncertainties in income taxes pursuant to ASC 740, which clarifies the accounting for uncertainty in income taxes recognized in financial statements. We recognize tax liabilities for uncertain income tax positions (“unrecognized tax benefits”) where an evaluation has indicated that it is more likely than not that the tax positions will not be sustained in an audit. We estimate the unrecognized tax benefits as the largest amount that is more than 50% likely to be realized upon ultimate settlement. We re-evaluate these uncertain tax positions on a quarterly basis or when new information becomes available to management. The re-evaluations are based on many factors, including, but not limited to, changes in facts or circumstances, changes in tax law, settled issues as a result of audits, expirations due to statutes of limitations, and new federal or state audit activity. We also recognize accrued interest and penalties related to these unrecognized tax benefits. Changes in these accrued items are included in the provision for income taxes in the Condensed Consolidated Statements of Income. | |
The effective income tax rate for the third quarter of fiscal year 2013 was 37.0% as compared with 37.5% for the third quarter of fiscal year 2012. For the first nine months of fiscal year 2013, the effective tax rate was 38.0% as compared with 38.2% for the same period in fiscal year 2012. The lower effective rate for the first nine months of fiscal year 2013 as compared to the same period of fiscal year 2012 was driven by lower expense related to the liability for unrecognized benefits in fiscal year 2013, partially offset by higher state income taxes. | |
Significant changes to U.S. federal or state income tax rules could occur as part of future legislation. Such changes could influence our future income tax expense and/or the timing of income tax deductions. The impact of such changes on our business operations and financial statements remains uncertain. However, as the possibility of any enactment progresses, we will continue to monitor current developments and assess the potential implications of these tax law changes on our business and consolidated financial statements. | |
We file federal income tax returns and state and local income tax returns in various jurisdictions. The Internal Revenue Service (“IRS”) has audited our tax returns through fiscal year 2008, including its examination of the tax returns for fiscal years 2007 and 2008, which was finalized in October 2010. No material adjustments were required to these tax returns as a result of the examination by the IRS. For the years before fiscal year 2010, the majority of our state and local income tax returns are no longer subject to examinations by taxing authorities |
Segment_Reporting
Segment Reporting | 9 Months Ended | |||||||||||||||
Nov. 02, 2013 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
SEGMENT REPORTING | ' | |||||||||||||||
SEGMENT REPORTING | ||||||||||||||||
We have two reportable segments: Stores and Direct Marketing. The Stores segment includes all Company-owned stores excluding Factory stores (“Full-line Stores”). The Direct Marketing segment includes our catalog call center and Internet operations. While each segment offers a similar mix of men’s clothing to the retail customer, the Stores segment also provides complete alterations, while the Direct Marketing segment provides certain limited alterations. | ||||||||||||||||
The accounting policies of the segments are the same as those described in the summary of significant accounting policies. We evaluate performance of the segments based on “four wall” contribution, which excludes any allocation of overhead from the corporate office and the distribution centers (except order fulfillment costs, which are allocated to Direct Marketing), interest and income taxes. | ||||||||||||||||
Our segments are strategic business units that offer similar products to retail customers by two distinctively different methods. Stores segment customers travel to Company stores to purchase merchandise and/or alterations and typically take their purchases with them from the Stores. Most of our Direct Marketing segment customers visit one or more of our Internet web sites and order online. Some of our Direct Marketing customers order through our catalog by phone, mail or fax. Direct Marketing purchases are shipped to the customer. | ||||||||||||||||
Segment data is presented in the following tables: | ||||||||||||||||
Three months ended November 2, 2013 | ||||||||||||||||
Stores | Direct Marketing | Corporate and | Total | |||||||||||||
Other | ||||||||||||||||
(In thousands) | ||||||||||||||||
Net sales (a) | $ | 206,709 | $ | 28,948 | $ | 11,811 | $ | 247,468 | ||||||||
Depreciation and amortization | 6,049 | 205 | 1,212 | 7,466 | ||||||||||||
Operating income (loss) (b) | 35,258 | 6,356 | (20,056 | ) | 21,558 | |||||||||||
Capital expenditures (c) | 6,737 | 17 | 3,333 | 10,087 | ||||||||||||
Three months ended October 27, 2012 | ||||||||||||||||
Stores | Direct Marketing | Corporate and | Total | |||||||||||||
Other | ||||||||||||||||
(In thousands) | ||||||||||||||||
Net sales (a) | $ | 199,937 | $ | 23,446 | $ | 9,468 | $ | 232,851 | ||||||||
Depreciation and amortization | 5,827 | 187 | 1,150 | 7,164 | ||||||||||||
Operating income (loss) (b) | 33,292 | 5,558 | (17,682 | ) | 21,168 | |||||||||||
Capital expenditures (c) | 8,073 | 286 | 2,234 | 10,593 | ||||||||||||
Nine months ended November 2, 2013 | ||||||||||||||||
Stores | Direct Marketing | Corporate and | Total | |||||||||||||
Other | ||||||||||||||||
(In thousands) | ||||||||||||||||
Net sales (a) | $ | 567,118 | $ | 77,145 | $ | 31,789 | $ | 676,052 | ||||||||
Depreciation and amortization | 17,945 | 615 | 3,572 | 22,132 | ||||||||||||
Operating income (loss) (b) | 96,433 | 17,819 | (56,613 | ) | 57,639 | |||||||||||
Capital expenditures (c) | 16,342 | 31 | 5,745 | 22,118 | ||||||||||||
Nine months ended October 27, 2012 | ||||||||||||||||
Stores | Direct Marketing | Corporate and | Total | |||||||||||||
Other | ||||||||||||||||
(In thousands) | ||||||||||||||||
Net sales (a) | $ | 598,686 | $ | 69,823 | $ | 26,039 | $ | 694,548 | ||||||||
Depreciation and amortization | 16,986 | 540 | 3,384 | 20,910 | ||||||||||||
Operating income (loss) (b) | 118,695 | 19,208 | (55,211 | ) | 82,692 | |||||||||||
Capital expenditures (c) | 17,292 | 387 | 4,744 | 22,423 | ||||||||||||
________________________________________ | ||||||||||||||||
(a) | Stores net sales represent all Full-line Store sales. Direct Marketing net sales represent catalog call center and Internet sales. Net sales from operating segments below the GAAP quantitative thresholds are attributable primarily to our two other operating segments — Factory stores and Franchise stores. These operating segments have never met any of the quantitative thresholds for determining reportable segments and are included in “Corporate and Other.” | |||||||||||||||
(b) | Operating income (loss) for the Stores and Direct Marketing segments represents profit before allocations of overhead from the corporate office and the distribution centers (except order fulfillment costs which are allocated to Direct Marketing), interest and income taxes (“four wall” contribution). Total Company shipping costs to customers of approximately $3.6 million and $4.9 million for the third quarter of fiscal years 2012 and 2013, respectively, and approximately $11.4 million and $13.4 million for the first nine months of fiscal years 2012 and 2013, respectively, were recorded to “Sales and marketing, including occupancy costs” in the Condensed Consolidated Statements of Income. Operating income (loss) for “Corporate and Other” consists primarily of costs included in general and administrative costs and operating income or loss related to the Factory stores and the Franchise stores operating segments. Total operating income represents profit before interest and income taxes. | |||||||||||||||
(c) | Capital expenditures include payments for property, plant and equipment made for the reportable segment. |
Legal_Matters
Legal Matters | 9 Months Ended |
Nov. 02, 2013 | |
Loss Contingency, Information about Litigation Matters [Abstract] | ' |
LEGAL MATTERS | ' |
LEGAL MATTERS | |
On March 16, 2012, Neil Holmes, a former employee of the Company, individually and on behalf of all those similarly situated, filed a Complaint (the "Holmes Complaint") against the Company in the Superior Court of California, County of Santa Clara, Case No. 112CV220780, alleging various violations of California wage and labor laws. The Holmes Complaint seeks, among other relief, certification of the case as a class action, injunctive relief, monetary damages, penalties, restitution, other equitable relief, interest, attorney's fees and costs. As described in our prior Quarterly Reports on Form 10-Q, the parties entered into a settlement agreement on April 19, 2013. On September 13, 2013, the Court issued an Order and Judgement granting, among other things, final approval of a class action settlement. The settlement amount had been previously recorded by the Company. | |
On August 29, 2012, Patrick Edward Camasta, individually and as the representative of a class of similarly situated persons, filed a putative class action complaint (the “Original Camasta Complaint”) against the Company in the Circuit Court of the Nineteenth Judicial Circuit, Lake County, Illinois (Case No. 12CH4405). The Company removed the case to the United States District Court for the Northern District of Illinois, Eastern Division (Case No. 12 CV 7782). The Original Camasta Complaint alleges, among other things, that the Company's pattern and practice of advertising its normal retail prices as temporary price reductions violate the Illinois Consumer Fraud and Deceptive Business Practices Act and the Illinois Uniform Deceptive Trade Practices Act. The Original Camasta Complaint seeks, among other relief, certification of the case as a class action, actual and punitive damages, attorney fees and costs and injunctive relief. On February 7, 2013, upon the motion of the Company, the said U.S. District Court issued a Memorandum Opinion and Order dismissing the Original Camasta Complaint in its entirety, without prejudice. On March 1, 2013, Camasta filed a First Amended Class Action Complaint in the said United States District Court making substantially the same allegations as in the Original Camasta Complaint. On July 25, 2013, upon the motion of the Company, the said U.S. District Court issued a Memorandum Opinion and Order dismissing the First Amended Class Action Complaint in its entirety, with prejudice. Camasta has appealed the dismissal to the United States Court of Appeals for the Seventh Circuit. | |
On July 30, 2013, Matthew B. Johnson, et al., on behalf of themselves and all Ohio residents similarly situated, filed a putative class action complaint (the “Johnson Complaint”) against the Company in the United States District Court for the Southern District of Ohio, Eastern District (Case No. 2:13-cv-756). The Johnson Complaint alleges, among other things, deceptive sales and marketing practices by the Company relating to its use of the words “free” and “regular price”. The Johnson Complaint seeks, among other relief, class certification, compensatory damages, declaratory relief, injunctive relief and costs and disbursements (including attorneys' fees). We intend to defend this lawsuit vigorously. (The law firm which filed the Johnson Complaint on behalf of the plaintiffs is one of the law firms which filed the “Schneider Complaint,” which is discussed in our Quarterly Report on Form 10-Q for the quarterly period ended May 4, 2013. On July 24, 2013, the Schneider Complaint was voluntarily dismissed by the plaintiffs from the United States District Court for the Northern District of Ohio. Approximately one week later, the substantially similar Johnson Complaint was filed in United States District Court for the Southern District of Ohio.) | |
In addition to the litigation discussed above, we are a party to routine litigation matters that are incidental to our business and are currently not expected to be material. From time to time, additional legal matters in which we may be named as a defendant are expected to arise in the normal course of our business activities. | |
Except as otherwise set forth above, the resolution of our litigation matters cannot be accurately predicted and we have not estimated the costs or potential losses, if any, associated with these matters. Accordingly, we cannot determine whether our insurance coverage, if any, would be sufficient to cover such costs or potential losses, if any, and we have not recorded any provision for cost or loss associated with these actions. It is possible that our consolidated financial statements could be materially impacted in a particular fiscal quarter or year by an unfavorable outcome or settlement of any of these actions. |
Significant_Accounting_Policie1
Significant Accounting Policies (Policies) | 9 Months Ended |
Nov. 02, 2013 | |
Accounting Policies [Abstract] | ' |
Cash and Cash Equivalents | ' |
Cash and cash equivalents include bank deposit accounts, money market accounts and other highly liquid investments with original maturities of 90 days or less. At November 2, 2013, substantially all of the cash and cash equivalents were invested in U.S. Treasury bills with original maturities of 90 days or less and overnight federally-sponsored agency notes. | |
Short-term Investments | ' |
Short-term investments consist of investments in securities with remaining maturities of less than one year, excluding investments with original maturities of 90 days or less. At November 2, 2013, short-term investments consisted solely of U.S. Treasury bills with remaining maturities ranging from less than one month to five months. These investments are classified as held-to-maturity and their market values approximate their carrying values. | |
Inventories | ' |
We record inventory at the lower of cost or market (“LCM”). Cost is determined using the first-in, first-out method. We capitalize into inventory certain sourcing, warehousing and freight delivery costs associated with shipping our merchandise to the point of sale. We periodically review quantities of inventories on hand and compare these amounts to the expected sales of each product. We record a charge to cost of goods sold for the amount required to reduce the carrying value of inventory to estimated net realizable value. | |
Landlord Contributions | ' |
We typically receive reimbursement from landlords for a portion of the cost of leasehold improvements for new stores and, occasionally, for renovations and relocations. These landlord contributions are initially accounted for as an increase to Deferred rent and as an increase to Prepaid expenses and other current assets when the related store is opened. When collected, we record cash and reduce the prepaid expenses and other current assets account. The collection of landlord contributions is presented in the Condensed Consolidated Statements of Cash Flows as an operating activity. The deferred rent is amortized over the lease term in a manner that is consistent with our policy to straight-line rent expense over the term of the lease. The amortization is recorded as a reduction to sales and marketing expense, which is consistent with the classification of lease expense. | |
Gift Cards and Certificates | ' |
We sell gift cards and gift certificates to individuals and companies. Our incentive gift certificates are used by various companies as a reward for achievement for their employees. We also redeem proprietary gift cards and gift certificates marketed by third-party premium/incentive companies. We record a liability when a gift card/certificate is purchased. As the gift card/certificate is redeemed, we reduce the liability and record revenue. Substantially all of our gift cards/certificates do not have expiration dates and they are all subject to state escheatment laws. Based on historical experience, gift cards/certificates redemptions after the escheatment due date are remote and we recognize any income (also referred to as “breakage”) on these unredeemed gift cards/certificates on a specific identification basis on the escheatment due date. | |
Tuxedo Rental Product | ' |
Revenues from tuxedo rental products are recognized on a gross basis upon delivery of rental products to customers. When a customer orders a tuxedo rental from us, we place an order with a national distributor who delivers the product to our stores, typically within several days prior to the intended use. The national distributor owns the rental product and charges the Company a rental cost for each rental and delivery which is recorded to Cost of goods sold. | |
Equity Compensation | ' |
We account for our equity awards in accordance with FASB ASC 718, “Share-Based Payment” (“ASC 718”), which requires the compensation cost resulting from all share-based awards to be recognized in the financial statements. The amount of compensation is measured based on the grant-date fair value of the awards and is recognized over the vesting period of the awards. The vesting of awards to both the officers and directors is subject to service conditions being met, currently ranging from one to three years. Additionally, the vesting of awards to officers is subject to performance conditions being met in the fiscal year that the awards are granted such as, among other things, the attainment of certain annual earnings and performance goals. For these officer awards, we estimate the probability that such goals will be attained based on results-to-date at each interim quarter-end and record compensation cost to "General and administrative expense" for these awards based on the awards projected to vest. Share-based compensation expense recognized for the third quarter and first nine months of fiscal year 2013 related to equity awards issued under the Jos. A. Bank Clothiers, Inc. 2010 Equity Incentive Plan (“Equity Incentive Plan”) was $0.3 million and $1.3 million, respectively, and the tax benefit recognized related to this compensation for each of the third quarter and the first nine months was $0.1 million and $0.5 million. Share based compensation expense for the third quarter and first nine months of fiscal year 2012 was $0.2 million and $1.6 million, respectively, and the tax benefit recognized related to this compensation was $0.1 million and $0.6 million |
Income_Taxes_Policies
Income Taxes (Policies) | 9 Months Ended |
Nov. 02, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Tax Uncertainties | ' |
Income taxes are accounted for under the asset and liability method in accordance with FASB ASC 740, “Income Taxes,” (“ASC 740”). Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the Condensed Consolidated Statements of Income in the period that includes the enactment date. | |
We account for uncertainties in income taxes pursuant to ASC 740, which clarifies the accounting for uncertainty in income taxes recognized in financial statements. We recognize tax liabilities for uncertain income tax positions (“unrecognized tax benefits”) where an evaluation has indicated that it is more likely than not that the tax positions will not be sustained in an audit. We estimate the unrecognized tax benefits as the largest amount that is more than 50% likely to be realized upon ultimate settlement. We re-evaluate these uncertain tax positions on a quarterly basis or when new information becomes available to management. The re-evaluations are based on many factors, including, but not limited to, changes in facts or circumstances, changes in tax law, settled issues as a result of audits, expirations due to statutes of limitations, and new federal or state audit activity. We also recognize accrued interest and penalties related to these unrecognized tax benefits. Changes in these accrued items are included in the provision for income taxes in the Condensed Consolidated Statements of Income. |
Basis_of_Presentation_Tables
Basis of Presentation (Tables) | 9 Months Ended | |
Nov. 02, 2013 | ||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |
Schedule of fiscal year end dates | ' | |
The following fiscal years ended or will end on the dates indicated and will be referred to herein by their fiscal year designations: | ||
Fiscal year 2008 | January 31, 2009 | |
Fiscal year 2009 | January 30, 2010 | |
Fiscal year 2010 | January 29, 2011 | |
Fiscal year 2011 | January 28, 2012 | |
Fiscal year 2012 | February 2, 2013 | |
Fiscal year 2013 | February 1, 2014 | |
Fiscal year 2014 | January 31, 2015 |
Supplemental_Cash_Flow_Disclos1
Supplemental Cash Flow Disclosure (Tables) | 9 Months Ended | |||||||
Nov. 02, 2013 | ||||||||
Supplemental Cash Flow Elements [Abstract] | ' | |||||||
Net changes in operating working capital and other components | ' | |||||||
The net changes in operating working capital and other components consist of the following: | ||||||||
Nine Months Ended | ||||||||
October 27, 2012 | November 2, 2013 | |||||||
(In thousands) | ||||||||
(Increase) in accounts receivable | $ | (1,963 | ) | $ | (6,594 | ) | ||
(Increase) in inventories | (74,970 | ) | (38,123 | ) | ||||
(Increase) in prepaids and other assets | (9,604 | ) | (2,150 | ) | ||||
(Decrease) in accounts payable | (13,645 | ) | (13,210 | ) | ||||
(Decrease) in accrued expenses | (1,708 | ) | (10,862 | ) | ||||
(Decrease) in deferred rent and other noncurrent liabilities | (931 | ) | (2,452 | ) | ||||
Net (increase) in operating working capital and other components | $ | (102,821 | ) | $ | (73,391 | ) | ||
Interest and income taxes paid | ' | |||||||
Interest and income taxes paid were as follows: | ||||||||
Nine Months Ended | ||||||||
October 27, 2012 | November 2, 2013 | |||||||
(In thousands) | ||||||||
Interest paid | $ | 21 | $ | 14 | ||||
Income taxes paid | $ | 43,223 | $ | 23,220 | ||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | |||||||||||
Nov. 02, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Weighted average shares used to calculate basic and diluted EPS | ' | |||||||||||
The weighted average shares used to calculate basic and diluted EPS are as follows: | ||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||
October 27, 2012 | November 2, 2013 | October 27, 2012 | November 2, 2013 | |||||||||
(In thousands) | (In thousands) | |||||||||||
Weighted average shares outstanding for basic EPS | 27,933 | 27,988 | 27,883 | 27,978 | ||||||||
Dilutive effect of common stock equivalents | 84 | 66 | 122 | 72 | ||||||||
Weighted average shares outstanding for diluted EPS | 28,017 | 28,054 | 28,005 | 28,050 | ||||||||
Segment_Reporting_Tables
Segment Reporting (Tables) | 9 Months Ended | |||||||||||||||
Nov. 02, 2013 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Segment data | ' | |||||||||||||||
Segment data is presented in the following tables: | ||||||||||||||||
Three months ended November 2, 2013 | ||||||||||||||||
Stores | Direct Marketing | Corporate and | Total | |||||||||||||
Other | ||||||||||||||||
(In thousands) | ||||||||||||||||
Net sales (a) | $ | 206,709 | $ | 28,948 | $ | 11,811 | $ | 247,468 | ||||||||
Depreciation and amortization | 6,049 | 205 | 1,212 | 7,466 | ||||||||||||
Operating income (loss) (b) | 35,258 | 6,356 | (20,056 | ) | 21,558 | |||||||||||
Capital expenditures (c) | 6,737 | 17 | 3,333 | 10,087 | ||||||||||||
Three months ended October 27, 2012 | ||||||||||||||||
Stores | Direct Marketing | Corporate and | Total | |||||||||||||
Other | ||||||||||||||||
(In thousands) | ||||||||||||||||
Net sales (a) | $ | 199,937 | $ | 23,446 | $ | 9,468 | $ | 232,851 | ||||||||
Depreciation and amortization | 5,827 | 187 | 1,150 | 7,164 | ||||||||||||
Operating income (loss) (b) | 33,292 | 5,558 | (17,682 | ) | 21,168 | |||||||||||
Capital expenditures (c) | 8,073 | 286 | 2,234 | 10,593 | ||||||||||||
Nine months ended November 2, 2013 | ||||||||||||||||
Stores | Direct Marketing | Corporate and | Total | |||||||||||||
Other | ||||||||||||||||
(In thousands) | ||||||||||||||||
Net sales (a) | $ | 567,118 | $ | 77,145 | $ | 31,789 | $ | 676,052 | ||||||||
Depreciation and amortization | 17,945 | 615 | 3,572 | 22,132 | ||||||||||||
Operating income (loss) (b) | 96,433 | 17,819 | (56,613 | ) | 57,639 | |||||||||||
Capital expenditures (c) | 16,342 | 31 | 5,745 | 22,118 | ||||||||||||
Nine months ended October 27, 2012 | ||||||||||||||||
Stores | Direct Marketing | Corporate and | Total | |||||||||||||
Other | ||||||||||||||||
(In thousands) | ||||||||||||||||
Net sales (a) | $ | 598,686 | $ | 69,823 | $ | 26,039 | $ | 694,548 | ||||||||
Depreciation and amortization | 16,986 | 540 | 3,384 | 20,910 | ||||||||||||
Operating income (loss) (b) | 118,695 | 19,208 | (55,211 | ) | 82,692 | |||||||||||
Capital expenditures (c) | 17,292 | 387 | 4,744 | 22,423 | ||||||||||||
________________________________________ | ||||||||||||||||
(a) | Stores net sales represent all Full-line Store sales. Direct Marketing net sales represent catalog call center and Internet sales. Net sales from operating segments below the GAAP quantitative thresholds are attributable primarily to our two other operating segments — Factory stores and Franchise stores. These operating segments have never met any of the quantitative thresholds for determining reportable segments and are included in “Corporate and Other.” | |||||||||||||||
(b) | Operating income (loss) for the Stores and Direct Marketing segments represents profit before allocations of overhead from the corporate office and the distribution centers (except order fulfillment costs which are allocated to Direct Marketing), interest and income taxes (“four wall” contribution). Total Company shipping costs to customers of approximately $3.6 million and $4.9 million for the third quarter of fiscal years 2012 and 2013, respectively, and approximately $11.4 million and $13.4 million for the first nine months of fiscal years 2012 and 2013, respectively, were recorded to “Sales and marketing, including occupancy costs” in the Condensed Consolidated Statements of Income. Operating income (loss) for “Corporate and Other” consists primarily of costs included in general and administrative costs and operating income or loss related to the Factory stores and the Franchise stores operating segments. Total operating income represents profit before interest and income taxes. | |||||||||||||||
(c) | Capital expenditures include payments for property, plant and equipment made for the reportable segment. |
Basis_of_Presentation_Details
Basis of Presentation (Details) | 9 Months Ended | 12 Months Ended | ||||||
Nov. 02, 2013 | Jan. 31, 2015 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | Jan. 29, 2011 | Jan. 30, 2010 | Jan. 31, 2009 | |
week | week | week | week | week | week | week | ||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Operating cycle | '52-53 week | ' | ' | ' | ' | ' | ' | ' |
Fiscal year end date | ' | 'January 31, 2015 | 'February 1, 2014 | 'February 2, 2013 | 'January 28, 2012 | 'January 29, 2011 | 'January 30, 2010 | 'January 31, 2009 |
Number of weeks in each fiscal year | ' | 52 | 52 | 53 | 52 | 52 | 52 | 52 |
Significant_Accounting_Policie2
Significant Accounting Policies (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Share-based compensation expense | $0.30 | $0.20 | $1.30 | $1.60 |
Share-based compensation tax benefit recognized | $0.10 | $0.10 | $0.50 | $0.60 |
Minimum [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | '1 year | ' |
Maximum [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | '3 years | ' |
Supplemental_Cash_Flow_Disclos2
Supplemental Cash Flow Disclosure Table (Details) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 |
Net changes in operating working capital and other components | ' | ' |
(Increase) in accounts receivable | ($6,594) | ($1,963) |
(Increase) in inventories | -38,123 | -74,970 |
(Increase) in prepaids and other assets | -2,150 | -9,604 |
(Decrease) in accounts payable | -13,210 | -13,645 |
(Decrease) in accrued expenses | -10,862 | -1,708 |
(Decrease) in deferred rent and other noncurrent liabilities | -2,452 | -931 |
Net (increase) in operating working capital and other components | -73,391 | -102,821 |
Interest and income taxes paid | ' | ' |
Interest paid | 14 | 21 |
Income taxes paid | $23,220 | $43,223 |
Supplemental_Cash_Flow_Disclos3
Supplemental Cash Flow Disclosure Narrative (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 |
Noncash Items | ' | ' |
Capital expenditures incurred but not yet paid | $11.90 | $13.10 |
Noncash Increase (Decrease) in Accrued Property Plant and Equipment | $3.30 | $6.30 |
Earnings_Per_Share_Details
Earnings Per Share (Details) | 3 Months Ended | 9 Months Ended | ||
Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 | |
Weighted average shares used to calculate basic and diluted earnings per share | ' | ' | ' | ' |
Weighted average shares outstanding for basic EPS | 27,988,000 | 27,933,000 | 27,978,000 | 27,883,000 |
Dilutive effect of common stock equivalents | 66,000 | 84,000 | 72,000 | 122,000 |
Weighted average shares outstanding for diluted EPS | 28,054,000 | 28,017,000 | 28,050,000 | 28,005,000 |
Restricted Stock Units [Member] | ' | ' | ' | ' |
Weighted average shares used to calculate basic and diluted earnings per share | ' | ' | ' | ' |
Anti-dilutive securities excluded from EPS computation | 0 | 0 | 0 | 0 |
Income_Taxes_Details
Income Taxes (Details) | 3 Months Ended | 9 Months Ended | ||
Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 | |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Effective Income Tax Rate, Continuing Operations | 37.00% | 37.50% | 38.00% | 38.20% |
Segment_Reporting_Details
Segment Reporting (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||
In Thousands, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 | ||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||
Net sales | $247,468 | [1] | $232,851 | [1] | $676,052 | $694,548 |
Depreciation and amortization | 7,466 | 7,164 | 22,132 | 20,910 | ||
Operating income (loss) | 21,558 | [2] | 21,168 | [2] | 57,639 | 82,692 |
Capital expenditures | 10,087 | [3] | 10,593 | [3] | 22,118 | 22,423 |
Stores [Member] | ' | ' | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||
Net sales | 206,709 | [1] | 199,937 | [1] | 567,118 | 598,686 |
Depreciation and amortization | 6,049 | 5,827 | 17,945 | 16,986 | ||
Operating income (loss) | 35,258 | [2] | 33,292 | [2] | 96,433 | 118,695 |
Capital expenditures | 6,737 | [3] | 8,073 | [3] | 16,342 | 17,292 |
Direct Marketing [Member] | ' | ' | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||
Net sales | 28,948 | [1] | 23,446 | [1] | 77,145 | 69,823 |
Depreciation and amortization | 205 | 187 | 615 | 540 | ||
Operating income (loss) | 6,356 | [2] | 5,558 | [2] | 17,819 | 19,208 |
Capital expenditures | 17 | [3] | 286 | [3] | 31 | 387 |
Corporate and Other [Member] | ' | ' | ' | ' | ||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ||
Net sales | 11,811 | [1] | 9,468 | [1] | 31,789 | 26,039 |
Depreciation and amortization | 1,212 | 1,150 | 3,572 | 3,384 | ||
Operating income (loss) | -20,056 | [2] | -17,682 | [2] | -56,613 | -55,211 |
Capital expenditures | $3,333 | [3] | $2,234 | [3] | $5,745 | $4,744 |
[1] | Stores net sales represent all Full-line Store sales. Direct Marketing net sales represent catalog call center and Internet sales. Net sales from operating segments below the GAAP quantitative thresholds are attributable primarily to our two other operating segments — Factory stores and Franchise stores. These operating segments have never met any of the quantitative thresholds for determining reportable segments and are included in “Corporate and Other.†| |||||
[2] | Operating income (loss) for the Stores and Direct Marketing segments represents profit before allocations of overhead from the corporate office and the distribution centers (except order fulfillment costs which are allocated to Direct Marketing), interest and income taxes (“four wall†contribution). Total Company shipping costs to customers of approximately $3.6 million and $4.9 million for the third quarter of fiscal years 2012 and 2013, respectively, and approximately $11.4 million and $13.4 million for the first nine months of fiscal years 2012 and 2013, respectively, were recorded to “Sales and marketing, including occupancy costs†in the Condensed Consolidated Statements of Income. Operating income (loss) for “Corporate and Other†consists primarily of costs included in general and administrative costs and operating income or loss related to the Factory stores and the Franchise stores operating segments. Total operating income represents profit before interest and income taxes. | |||||
[3] | Capital expenditures include payments for property, plant and equipment made for the reportable segment. |
Segment_Reporting_Narrative_De
Segment Reporting Narrative (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 |
segment | segment | |||
method | method | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Number of Reportable Segments | 2 | ' | 2 | ' |
Number Of Distribution Methods | 2 | ' | 2 | ' |
Number of Non-Reportable Operating Segments | 2 | ' | 2 | ' |
Shipping, Handling and Transportation Costs | $4.90 | $3.60 | $13.40 | $11.40 |