Derivatives (Tables)

6 Months Ended

Aug. 01, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Outstanding Foreign Exchange Forward Contracts

As of August 1, 2015, 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 intercompany inventory sales, the resulting settlement of the foreign-currency-denominated intercompany accounts receivable, or both:

(in thousands)	Notional Amount(1)
Euro	$	98,666
British Pound	$	22,590
Canadian Dollar	$	13,502

⁽¹⁾  Amounts are reported in U.S. Dollar equivalent as of August 1, 2015.

Location and Amounts of Derivative Fair Values on the Condensed Consolidated Balance Sheets

The location and amounts of derivative fair values on the Condensed Consolidated Balance Sheets as of August 1, 2015 and January 31, 2015 were as follows:

	Asset Derivatives					Liability Derivatives
(in thousands)	Balance Sheet Location	August 1, 2015		January 31, 2015		Balance Sheet Location	August 1, 2015		January 31, 2015
Derivatives designated as hedging instruments:
Foreign currency exchange forward contracts	Other current assets	$	4,099	$	10,283	Other liabilities	$	676	$	—
Derivatives not designated as hedging instruments:
Foreign currency exchange forward contracts	Other current assets	$	—	$	10	Other liabilities	$	—	$	—
Total	Other current assets	$	4,099	$	10,293	Other liabilities	$	676	$	—

Location and Amounts of Derivative Gains and Losses on the Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income

The location and amounts of derivative gains and losses for the thirteen and twenty-six weeks ended August 1, 2015 and August 2, 2014 on the Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income were as follows:

		Thirteen Weeks Ended				Twenty-Six Weeks Ended
		August 1, 2015		August 2, 2014		August 1, 2015		August 2, 2014
(in thousands)	Location	Gain/(Loss)		Gain/(Loss)		Gain/(Loss)		Gain/(Loss)
Derivatives not designated as hedging instruments:
Foreign currency exchange forward contracts	Other operating income, net	$	264	$	459	$	424	$	(229	)

	Effective Portion											Ineffective Portion and Amount Excluded from Effectiveness Testing
	Amount of Gain (Loss) Recognized in OCI on Derivative Contracts (a)					Location of Gain (Loss) Reclassified from AOCL into Earnings	Amount of Gain (Loss) Reclassified from AOCL into Earnings (b)					Location of Gain Recognized in Earnings on Derivative Contracts	Amount of Gain  Recognized in Earnings on Derivative Contracts (c)
	Thirteen Weeks Ended
(in thousands)	August 1, 2015		August 2, 2014				August 1, 2015		August 2, 2014				August 1, 2015		August 2, 2014
Derivatives in cash flow hedging relationships:
Foreign currency exchange forward contracts	$	2,167	$	3,888		Cost of goods sold	$	4,839	$	(1,922	)	Other operating income, net	$	204	$	167
	Twenty-Six Weeks Ended
(in thousands)	August 1, 2015		August 2, 2014				August 1, 2015		August 2, 2014				August 1, 2015		August 2, 2014
Derivatives in cash flow hedging relationships:
Foreign currency exchange forward contracts	$	2,386	$	(1,136	)	Cost of goods sold	$	10,875	$	(3,355	)	Other operating income, net	$	239	$	170

(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 AOCL 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.