Derivatives (Tables)

12 Months Ended

Feb. 01, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Outstanding Foreign Exchange Forward Contracts

As of February 1, 2014, the Company had the following outstanding foreign exchange forward contracts that were entered to hedge either a portion, or all, of forecasted foreign-currency-denominated inter-company inventory sales, the resulting settlement of the foreign-currency-denominated inter-company accounts receivable, or both:



	Notional Amount⁽¹⁾
Euro	$	80,428
British Pound	$	32,368
Canadian Dollar	$	10,940


⁽¹⁾	Amounts are reported in thousands and in U.S. Dollars equivalent as of February 1, 2014.

As of February 1, 2014, the Company had the following outstanding foreign exchange forward contracts that were entered into to hedge foreign currency denominated net monetary assets/liabilities:



	Notional Amount⁽¹⁾
Euro	$	27,248
Swiss Franc	$	13,822


⁽¹⁾	Amounts are reported in thousands and in U.S. Dollars equivalent as of February 1, 2014.

Schedule of Locations and Amounts of Derivative Fair Values on the Consolidated Balance Sheets

The location and amounts of derivative fair values on the Consolidated Balance Sheets as of February 1, 2014 and February 2, 2013 were as follows:



		Asset Derivatives					Liability Derivatives
	Balance Sheet Location	February 1, 2014		February 2, 2013		Balance Sheet Location	February 1, 2014		February 2, 2013
	(in thousands)
Derivatives Designated as Hedging Instruments:
Foreign Exchange Forward Contracts	Other Current Assets	$	691	$	1,967	Other Liabilities	$	2,503	$	9,270
Derivatives Not Designated as Hedging Instruments:
Foreign Exchange Forward Contracts	Other Current Assets	$	278	$	526	Other Liabilities	$	52	$	717
Total	Other Current Assets	$	969	$	2,493	Other Liabilities	$	2,555	$	9,987

Schedule of Locations and Amounts of Derivative Gains (Losses) on the Consolidated Statements of Operations and Comprehensive Income

The location and amounts of derivative gains and losses for Fiscal 2013 and Fiscal 2012, respectively, on the Consolidated Statements of Operations and Comprehensive Income were as follows:



		Fiscal 2013		Fiscal 2012
		February 1, 2014		February 2, 2013
	Location	Gain/(Loss)		Gain/(Loss)
	(in thousands)
Derivatives not designated as Hedging Instruments:
Foreign Exchange Forward Contracts	Other Operating Expense (Income), Net	$	378	$	1,946



	Amount of Gain (Loss) Recognized in OCI on Derivative Contracts (Effective Portion) (a)					Location of Gain (Loss) Reclassified from Accumulated OCI into Earnings (Effective Portion)	Amount of Gain (Loss) Reclassified from Accumulated OCI into Earnings (Effective Portion) (b)				Location of Gain (Loss) Recognized in Earnings on Derivative Contracts (Ineffective Portion and Amount Excluded from Effectiveness Testing)	Amount of Gain (Loss) Recognized in Earnings on Derivative Contracts (Ineffective Portion and Amount Excluded from Effectiveness Testing) (c)
	February 1, 2014		February 2, 2013				February 1, 2014		February 2, 2013			February 1, 2014		February 2, 2013
	(in thousands)
Derivatives in Cash Flow Hedging Relationships
Foreign Exchange Forward Contracts	$	6,435	$	(4,003	)	Cost of Goods Sold	$	857	$	17,510	Other Operating Expense (Income), Net	$	248	$	226


(a)	The amount represents the change in fair value of derivative contracts due to changes in spot rates.


(b)	The amount represents reclassification from OCI into earnings that occurs when the hedged item affects earnings, which is when merchandise is sold to the Company’s customers.


(c)	The amount represents the change in fair value of derivative contracts due to changes in the difference between the spot price and forward price that is excluded from the assessment of hedge effectiveness and, therefore, recognized in earnings.