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Derivatives (Tables)
 3 Months Ended
May 03, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Outstanding Foreign Exchange Forward Contracts
As of May 3, 2014, the Company had outstanding the following foreign currency exchange forward contracts that were entered into 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
$
98,884

British Pound
$
43,641

Canadian Dollar
$
14,079

(1) 
Amounts are reported in thousands and in U.S. Dollar equivalent as of May 3, 2014.
As of May 3, 2014, the Company had outstanding the following foreign currency forward contracts that were entered into to hedge foreign currency denominated net monetary assets/liabilities:
 
Notional Amount(1)
Euro
$
13,794

Swiss Franc
$
3,389

(1) 
Amounts are reported in thousands and in U.S. Dollar equivalent as of May 3, 2014.
Location 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 May 3, 2014 and February 1, 2014 were as follows:
 
 
 
Asset Derivatives
 
 
 
Liability Derivatives
(in thousands):
Balance Sheet Location
 
May 3,
2014
 
February 1,
2014
 
Balance Sheet Location
 
May 3,
2014
 
February 1,
2014
Derivatives Designated as Hedging Instruments:
 
 
 
 
 
 
 
 
 
 
Foreign Currency Exchange Forward Contracts
Other Current Assets
 
$
310

 
$
691

 
Other Liabilities
 
$
5,246

 
$
2,503

Derivatives Not Designated as Hedging Instruments:
 
 
 
 
 
 
 
 
 
 
Foreign Currency Exchange Forward Contracts
Other Current Assets
 
$
29

 
$
278

 
Other Liabilities
 
$
79

 
$
52

Total
Other Current Assets
 
$
339

 
$
969

 
Other Liabilities
 
$
5,325

 
$
2,555
Location and Amounts of Derivative Gains and Losses on the Consolidated Statements of Operations and Comprehensive Income (Loss)
The location and amounts of derivative gains and losses for the thirteen-week periods ended May 3, 2014 and May 4, 2013 on the Consolidated Statements of Operations and Comprehensive Income (Loss) were as follows:
 
 
 
Thirteen Weeks Ended
 
 
 
May 3, 2014
 
May 4, 2013
(in thousands):
Location
 
Gain/(Loss)
 
Gain/(Loss)
Derivatives not designated as Hedging Instruments:
 
 
 
 
Foreign Exchange Forward Contracts
Other Operating (Income) Expense, Net
 
$
688

 
$
1,304

 
 
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)
 
Thirteen Weeks Ended
(in thousands):
May 3,
2014
 
May 4,
2013
 
 
 
May 3,
2014
 
May 4,
2013
 
 
 
May 3,
2014
 
May 4,
2013
Derivatives in Cash Flow Hedging Relationships
 
 
 
 
 
 
 
 
 
 
 
 
Foreign Currency Exchange Forward Contracts
$
(5,025
)
 
$
9,769

 
Cost of Goods Sold
 
$
(1,434
)
 
$
(729
)
 
Other Operating (Income) Expense, Net
 
$
3

 
$
97

(a)
The amount represents the change in fair value of derivative contracts due to changes in spot rates.
(b)
The amount represents the reclassification from OCI into earnings 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.