Summarized Quarterly Data (unaudited)

12 Months Ended

Feb. 01, 2014

Quarterly Financial Information Disclosure [Abstract]

Summarized Quarterly Data (unaudited)

Summarized Quarterly Data (unaudited)

Each of our fiscal quarters consists of thirteen week periods, beginning on the first day after the end of the prior fiscal quarter, except that the fourth quarter in a year with 53 weeks (such as Fiscal 2012) includes 14 weeks. Following is a summary of our Fiscal 2013 and Fiscal 2012 quarterly results (in thousands, except per share amounts):

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Total
Fiscal 2013
Net sales	$	234,203	$	235,024	$	197,506	$	250,364	$	917,097
Gross profit	$	134,075	$	136,849	$	104,785	$	137,865	$	513,574
Operating income	$	26,061	$	27,712	$	4,551	$	26,346	$	84,670
Net earnings	$	13,623	$	15,806	$	889	$	14,973	$	45,291
Net earnings per share:
Basic and diluted	$	0.82	$	0.96	$	0.05	$	0.91	$	2.75
Weighted average shares outstanding:
Basic	16,586		16,394		16,406		16,414		16,450
Diluted	16,611		16,423		16,435		16,444		16,482
Fiscal 2012
Net sales	$	230,953	$	206,929	$	181,414	$	236,246	$	855,542
Gross profit	$	129,214	$	118,280	$	96,822	$	125,241	$	469,557
Operating income	$	32,788	$	20,318	$	5,920	$	9,945	$	68,971
Net earnings	$	18,002	$	5,028	$	3,010	$	5,277	$	31,317
Net earnings per share:
Basic and diluted	$	1.09	$	0.30	$	0.18	$	0.32	$	1.89
Weighted average shares outstanding:
Basic	16,531		16,554		16,580		16,585		16,563
Diluted	16,552		16,570		16,591		16,608		16,586

The sum of the quarterly net earnings per share amounts may not equal the amounts for the full year due to rounding. Fiscal 2012 includes 53 weeks, with the fourth quarter including a 14 week period. Fiscal 2013 includes 52 weeks with the fourth quarter including a 13 week period.

The fourth quarter of Fiscal 2013 included a gain on sale of property of $1.6 million. During the second quarter and third quarter of Fiscal 2013, we recognized charges of $0.3 million and $0.4 million, respectively, resulting from the inventory step-up related to the Tommy Bahama Canada acquisition. During the second, third and fourth quarter of Fiscal 2013, we recognized charges of $0.3 million, $0.3 million and $0.7 million, respectively, related to amortization of intangible assets resulting from the purchase accounting impact of the Tommy Bahama Canada acquisition.

The second quarter of Fiscal 2012 included a $9.1 million loss on the redemption of our Senior Secured Notes, while the fourth quarter of Fiscal 2012 included the following significant items which impacted earnings for the quarter: (1) a LIFO accounting charge of $4.5 million; and (2) a $4.5 million charge due to the change in fair value of contingent consideration, compared to a $0.6 million charge in each of the first three quarters in Fiscal 2012 and each quarter in Fiscal 2011.