Operating Groups (Tables)

12 Months Ended

Jan. 28, 2023

Schedule of financial information by operating group

The tables below present certain financial information (in thousands) about our reportable operating groups, as well as Corporate and Other.


	Fiscal		Fiscal		Fiscal
	2022		2021		2020
Net sales
Tommy Bahama	$	880,233	$	724,305	$	419,817
Lilly Pulitzer		339,266		298,995		231,078
Johnny Was ⁽¹⁾		72,591		—		—
Emerging Brands		116,484		90,053		58,200
Lanier Apparel ⁽²⁾		—		24,858		38,796
Corporate and Other		2,954		3,868		942
Consolidated net sales	$	1,411,528	$	1,142,079	$	748,833

Depreciation and amortization
Tommy Bahama	$	26,807	$	27,830	$	46,698
Lilly Pulitzer		12,784		11,678		9,965
Johnny Was ⁽¹⁾		7,199		—		—
Emerging Brands		1,582		1,298		1,175
Lanier Apparel ⁽²⁾		—		107		1,239
Corporate and Other		663		685		837
Consolidated depreciation and amortization	$	49,035	$	41,598	$	59,914

Operating income (loss)
Tommy Bahama	$	172,761	$	111,733	$	(53,310)
Lilly Pulitzer		67,098		63,601		27,702
Johnny Was ⁽¹⁾		(1,544)		—		—
Emerging Brands ⁽³⁾		15,602		16,649		(62,724)
Lanier Apparel ⁽²⁾		—		4,888		(26,654)
Corporate and Other ⁽⁴⁾		(35,143)		(31,368)		(8,863)
Consolidated operating income (loss)		218,774		165,503		(123,849)
Interest expense, net		3,049		944		2,028
Earnings (loss) before income taxes	$	215,725	$	164,559	$	(125,877)

(1)	Amount included for Johnny Was represents the post-acquisition period only.

(2)	In Fiscal 2021, we exited our Lanier Apparel business, which is discussed in more detail in Note 11.

(3)	The operating loss for Emerging Brands in Fiscal 2020 included a $60 million impairment charge for goodwill and intangible assets of Southern Tide, with no such charges in Fiscal 2022 or Fiscal 2021.

(4)

The operating loss for Corporate and Other included a LIFO accounting charge of $3 million, charge of $16 million and credit of $9 million in Fiscal 2022, Fiscal 2021 and Fiscal 2020, respectively. During Fiscal 2022 and Fiscal 2021, the operating loss for Corporate and Other also included $3 million of transaction expenses and integration costs associated with the Johnny Was acquisition and a gain on sale of an unconsolidated entity of $12 million, respectively.


	Fiscal 2022		Fiscal 2021		Fiscal 2020
Purchases of Property and Equipment
Tommy Bahama	$	17,019	$	12,887	$	19,666
Lilly Pulitzer		23,990		17,305		7,059
Johnny Was		1,655		—		—
Emerging Brands		3,176		1,405		1,708
Lanier Apparel		—		5		21
Corporate and Other		828		292		470
Purchases of Property and Equipment	$	46,668	$	31,894	$	28,924


	January 28,		January 29,
	2023		2022
Total Assets
Tommy Bahama⁽¹⁾	$	569,833	$	531,678
Lilly Pulitzer ⁽²⁾		211,119		176,757
Johnny Was⁽³⁾		334,603		—
Emerging Brands ⁽⁴⁾		91,306		66,825
Lanier Apparel⁽⁵⁾		—		207
Corporate and Other⁽⁶⁾		(18,196)		182,175
Total Assets	$	1,188,665	$	957,642

(1)	Increase in Tommy Bahama total assets includes increases in inventories, receivables and prepaid expenses partially offset by reduction in non-current assets, including operating lease assets and property and equipment.

(2)	Increase in Lilly Pulitzer total assets includes increases in inventories, property and equipment, receivables and prepaid expenses partially offset by reductions in operating lease assets.

(3)	The Johnny Was business was acquired on September 19, 2022.

(4)	Increase in Emerging Brands total assets includes increases in inventories and non-current assets, including operating lease assets and property and equipment.

(5)	Decrease in Lanier Apparel total assets is due to the exit of the Lanier Apparel business during Fiscal 2021.

(6)

Decrease in Corporate and Other total assets includes reductions in short-term investments, cash and cash equivalents, which were used to fund a portion of the acquisition purchase price for Johnny Was, and reductions in inventories, primarily due to the impact of LIFO accounting, and reductions in non-current assets, including operating lease assets.

Schedule of net book value of property and equipment by geographic area

Net book value of our property and equipment and net sales by geographic area are presented in the tables below (in thousands).


	January 28,		January 29,
	2023		2022
Net Book Value of Property and Equipment
United States	$	174,044	$	149,352
Other foreign		3,540		3,095
	$	177,584	$	152,447

Schedule of net sales by geographic area

Net book value of our property and equipment and net sales by geographic area are presented in the tables below (in thousands).


	Fiscal 2022		Fiscal 2021		Fiscal 2020
Net Sales
United States	$	1,372,278	$	1,112,384	$	728,308
Other foreign		39,250		29,695		20,525
	$	1,411,528	$	1,142,079	$	748,833

Schedule of net sales by operating group

The tables below quantify net sales, for each operating group and in total (in thousands), and the percentage of net sales by distribution channel for each operating group and in total, for each period presented, except that the amounts included for Johnny Was represent the post-acquisition period only. We have calculated all percentages below based on actual data, and percentages may not add to 100 due to rounding.


	Fiscal 2022
	Net Sales		Retail		E‑commerce		Food & Beverage		Wholesale		Other
Tommy Bahama	$	880,233	46	%	24	%	13	%	17	%	—	%
Lilly Pulitzer		339,266	33	%	51	%	—	%	16	%	—	%
Johnny Was		72,591	36	%	42	%	—	%	22	%	—	%
Emerging Brands		116,484	6	%	42	%	—	%	52	%	—	%
Lanier Apparel		—	—	%	—	%	—	%	—	%	—	%
Corporate and Other		2,954	—	%	—	%	—	%	43	%	57	%
Consolidated net sales	$	1,411,528	39	%	33	%	8	%	20	%	—	%


	Fiscal 2021
	Net Sales		Retail		E‑commerce		Food & Beverage		Wholesale		Other
Tommy Bahama	$	724,305	47	%	25	%	13	%	15	%	—	%
Lilly Pulitzer		298,995	34	%	50	%	—	%	16	%	—	%
Johnny Was		—	—	%	—	%	—	%	—	%	—	%
Emerging Brands		90,053	5	%	39	%	—	%	56	%	—	%
Lanier Apparel		24,858	—	%	—	%	—	%	100	%	—	%
Corporate and Other		3,868	—	%	—	%	—	%	61	%	39	%
Consolidated net sales	$	1,142,079	39	%	32	%	8	%	20	%	—	%


	Fiscal 2020
	Net Sales		Retail		E‑commerce		Food & Beverage		Wholesale		Other
Tommy Bahama	$	419,817	37	%	36	%	11	%	16	%	—	%
Lilly Pulitzer		231,078	20	%	64	%	—	%	16	%	—	%
Johnny Was		—	—	%	—	%	—	%	—	%	—	%
Emerging Brands		58,200	3	%	45	%	—	%	52	%	—	%
Lanier Apparel		38,796	—	%	—	%	—	%	100	%	—	%
Corporate and Other		942	—	%	—	%	—	%	—	%	100	%
Consolidated net sales	$	748,833	27	%	43	%	6	%	23	%	—	%