Segment Reporting (Tables)
|
3 Months Ended |
May 05, 2018 |
Segment Reporting [Abstract] |
|
Summary of Statements of Operations Metrics Reviewed by CODM to Evaluate Performance Internally or As required under ASC 280 - Segment Reporting |
The following table presents the statements of operations metrics reviewed by the CODM to evaluate performance internally or as required under ASC 280—Segment Reporting (in thousands):
|
|
Three Months Ended |
|
|
|
May 5, |
|
|
April 29, |
|
|
|
2018 |
|
|
2017 |
|
|
|
RH Segment |
|
|
Waterworks |
|
|
Total |
|
|
RH Segment |
|
|
Waterworks |
|
|
Total |
|
Net revenues |
|
$ |
526,007 |
|
|
$ |
31,399 |
|
|
$ |
557,406 |
|
|
$ |
533,528 |
|
|
$ |
28,552 |
|
|
$ |
562,080 |
|
Gross profit |
|
|
199,035 |
|
|
|
13,000 |
|
|
|
212,035 |
|
|
|
159,627 |
|
|
|
10,629 |
|
|
|
170,256 |
|
Depreciation and amortization |
|
|
15,935 |
|
|
|
1,112 |
|
|
|
17,047 |
|
|
|
14,901 |
|
|
|
1,119 |
|
|
|
16,020 |
|
|
Summary of Balance Sheet Metrics as Required Under ASC 280 - Segment Reporting |
The following table presents the balance sheet metrics as required under ASC 280—Segment Reporting (in thousands):
|
|
May 5, |
|
|
February 3, |
|
|
|
2018 |
|
|
2018 |
|
|
|
RH Segment |
|
|
Waterworks |
|
|
Total |
|
|
RH Segment |
|
|
Waterworks |
|
|
Total |
|
Goodwill (1) |
|
$ |
124,404 |
|
|
$ |
17,445 |
|
|
$ |
141,849 |
|
|
$ |
124,448 |
|
|
$ |
17,445 |
|
|
$ |
141,893 |
|
Trademarks and domain names |
|
|
48,563 |
|
|
|
52,100 |
|
|
|
100,663 |
|
|
|
48,563 |
|
|
|
52,100 |
|
|
|
100,663 |
|
Total assets |
|
|
1,621,817 |
|
|
|
127,144 |
|
|
|
1,748,961 |
|
|
|
1,608,290 |
|
|
|
124,576 |
|
|
|
1,732,866 |
|
(1) |
The Waterworks reporting unit goodwill is presented net of an impairment charge of $33.7 million, which was recorded in fiscal 2017. |
|
Schedule of Segment Operating Income (Loss) and Income (Loss) Before Tax |
The following table presents segment operating income (loss) and income (loss) before tax (in thousands):
|
|
Three Months Ended |
|
|
|
May 5, |
|
|
April 29, |
|
|
|
2018 |
|
|
2017 |
|
Operating income (loss): |
|
|
|
|
|
|
|
|
RH Segment |
|
$ |
53,896 |
|
|
$ |
10,058 |
|
Waterworks |
|
|
(516 |
) |
|
|
(1,782 |
) |
Distribution center closures |
|
|
2,072 |
|
|
|
— |
|
Recall accrual |
|
|
254 |
|
|
|
— |
|
Post-acquisition related legal costs |
|
|
(1,915 |
) |
|
|
— |
|
Impact of inventory step-up |
|
|
(190 |
) |
|
|
(1,380 |
) |
Operating income |
|
|
53,601 |
|
|
|
6,896 |
|
Interest expense—net |
|
|
17,035 |
|
|
|
12,179 |
|
Income (loss) before tax |
|
$ |
36,566 |
|
|
$ |
(5,283 |
) |
|
Net Revenues |
Net revenues in each category were as follows (in thousands):
|
|
Three Months Ended |
|
|
|
May 5, |
|
|
April 29, |
|
|
|
2018 |
|
|
2017 |
|
Furniture |
|
$ |
352,646 |
|
|
$ |
352,956 |
|
Non-furniture |
|
|
204,760 |
|
|
|
209,124 |
|
Total net revenues |
|
$ |
557,406 |
|
|
$ |
562,080 |
|
|