SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

16. SEGMENT INFORMATION

The Company has two reportable segments: North American wholesale operations (“wholesale”) and North American retail operations (“retail”). The chief operating decision maker, the Company’s Chief Executive Officer, evaluates the performance of its segments based on earnings from operations and accordingly, interest income or expense, other income or expense, and income taxes are not allocated to the segments. The “other” category in the table below includes the Company’s wholesale and retail operations in Australia, South Africa, Asia Pacific and Europe, which do not meet the criteria for separate reportable segment classification.

In the wholesale segment, shoes are marketed through more than 10,000 footwear, department and specialty stores, primarily in the United States and Canada. Licensing revenues are also included in the Company’s wholesale segment. The Company has licensing agreements with third parties who sell its branded apparel, accessories and specialty footwear in the United States, as well as its footwear in Mexico and certain markets overseas. In 2014, 2013 and 2012, there was no single customer with sales above 10% of the Company’s total sales.

In the retail segment, the Company operated 16 Company-owned stores in principal cities and an internet business in the United States as of December 31, 2014. Sales in retail outlets are made directly to the consumer by Company employees. In addition to the sale of the Company’s brands of footwear in these retail outlets, other branded footwear and accessories are also sold.

The accounting policies of the segments are the same as those described in the Summary of Significant Accounting Policies. Summarized segment data for the years ended December 31, 2014, 2013 and 2012 was as follows:

	Wholesale		Retail		Other		Total
	(Dollars in thousands)
2014
Product sales	$	240,247	$	23,324	$	53,735	$	317,306
Licensing revenues		3,182		—		—		3,182
Net sales		243,429		23,324		53,735		320,488
Depreciation		2,251		553		855		3,659
Earnings from operations		22,527		3,300		4,830		30,657
Total assets		244,278		4,689		28,479		277,446
Capital expenditures		1,305		60		1,525		2,890

2013
Product sales	$	222,459	$	23,255	$	51,372	$	297,086
Licensing revenues		3,198		—		—		3,198
Net sales		225,657		23,255		51,372		300,284
Depreciation		2,481		538		943		3,962
Earnings from operations		20,742		3,018		3,995		27,755
Total assets		230,509		7,412		29,612		267,533
Capital expenditures		790		34		1,875		2,699
2012
Product sales	$	214,568	$	24,348	$	51,215	$	290,131
Licensing revenues		3,340		—		—		3,340
Net sales		217,908		24,348		51,215		293,471
Depreciation		2,083		544		711		3,338
Earnings from operations		22,214		1,662		5,921		29,797
Total assets		246,523		7,994		30,804		285,321
Capital expenditures		7,235		844		1,461		9,540

All North American corporate office assets are included in the wholesale segment. Transactions between segments primarily consist of sales between the wholesale and retail segments. Intersegment sales are valued at the cost of inventory plus an estimated cost to ship the products. Intersegment sales have been eliminated and are excluded from net sales in the above table.

Geographic Segments

Financial information relating to the Company’s business by geographic area was as follows for the years ended December 31, 2014, 2013 and 2012:

	2014		2013		2012
	(Dollars in thousands)
Net Sales:
United States	$	244,260	$	231,729	$	225,397
Canada		22,493		17,183		16,859
Europe		9,048		8,117		7,230
Australia		30,466		29,318		29,465
Asia		9,842		9,484		8,956
South Africa		4,379		4,453		5,564
Total	$	320,488	$	300,284	$	293,471
Long-Lived Assets:
United States	$	75,952	$	77,755	$	80,268
Other		9,048		9,255		6,009
	$	85,000	$	87,010	$	86,277

Net sales attributed to geographic locations are based on the location of the assets producing the sales. Long-lived assets by geographic location consist of property, plant and equipment (net), goodwill, trademarks, investment in real estate and amortizable intangible assets.