REVENUE (Tables)

3 Months Ended

Apr. 29, 2018

Summarize Impact of Adopting ASU 2014-09 to Consolidated Financial Statements

The following summarizes the impact of adopting ASU 2014-09 on our Condensed Consolidated Balance Sheet as of April 29, 2018 and our Condensed Consolidated Statement of Earnings for the first quarter of fiscal 2018. The adoption of ASU 2014-09 had no impact to net cash provided by (or used in) operating, financing, or investing activities reported in our Condensed Consolidated Statement of Cash Flows for the first quarter of fiscal 2018.


	As of April 29, 2018
In thousands	As Reported		ASU 2014-09 Adjustment			As Adjusted
ASSETS
Accounts receivable	$	102,630	$	(3,056	)	$	99,574
Merchandise inventories, net		1,052,892		6,385			1,059,277
Prepaid catalog expenses		—		22,258			22,258
Prepaid expenses		56,333		663			56,996
Other current assets		21,118		(9,395	)		11,723
Deferred income taxes, net		58,842		5,178			64,020
Total assets	$	2,656,905	$	22,034		$	2,678,939

LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable	$	393,025	$	(2,165	)	$	390,860
Gift card and other deferred revenue		256,534		63,824			320,358
Income taxes payable		72,036		(3,253	)		68,783
Other current liabilities		61,403		(14,757	)		46,646
Other long-term liabilities		72,779		874			73,653
Retained earnings		638,774		(22,489	)		616,285
Total liabilities and stockholders’ equity	$	2,656,905	$	22,034		$	2,678,939


	Thirteen Weeks Ended April 29, 2018
In thousands	As Reported		ASU 2014-09 Adjustment			As Adjusted
Net revenues	$	1,203,000	$	(25,101	)	$	1,177,899
Cost of goods sold		770,836		(6,144	)		764,692
Gross profit		432,164		(18,957	)		413,207
Selling, general and administrative expenses		365,614		(12,262	)		353,352
Operating income	$	66,550	$	(6,695	)	$	59,855