SUBSEQUENT EVENTS (Notes)

3 Months Ended

May. 01, 2016

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

On the Amendment Date, the Company entered into the Amendment to the 2014 facilities (as amended by the Amendment, the “2016 facilities”). Among other things, the Amendment provides for an additional $582.0 million principal amount of loans under the Term Loan A facility, the repayment of all outstanding loans under the Term Loan B facility and the termination of the Term Loan B facility. In addition, the Amendment extends the maturity of the Term Loan A and the revolving credit facilities from February 13, 2019 to May 19, 2021. On the Amendment Date, the Company borrowed the additional $582.0 million principal amount of loans under the Term Loan A facility made available pursuant to the Amendment and the 2016 facilities and used the proceeds to repay the outstanding $582.0 million principal amount of loans under the Term Loan B facility borrowed under the 2014 facilities.

On May 19, 2016, the Company announced that it had entered into an agreement with Grupo Axo, S.A.P.I. de C.V. (“Grupo Axo”) to form a joint venture that will license from wholly owned subsidiaries of the Company the rights to operate and manage the distribution of certain Calvin Klein, Tommy Hilfiger, Warner’s, Olga and Speedo brand products in Mexico. The joint venture will be formed by merging the wholly owned subsidiary of the Company that operates the Calvin Klein and Heritage Brands businesses in Mexico with the wholly owned subsidiary of Grupo Axo that distributes Tommy Hilfiger brand products in Mexico. The closing, which is subject to customary closing conditions, including regulatory approval, is expected to occur early in the third quarter of 2016.