Segments

9 Months Ended

Oct. 31, 2011

Segments [Abstract]

Segments

Note 5 — Segments

The Company’s reportable segments are business units that offer products through different channels of distribution and are managed separately. The Company operates in three segments: wholesale licensed products, wholesale non-licensed products and retail operations. There is substantial intersegment cooperation, cost allocations and sharing of assets. As a result, the Company does not represent that these segments, if operated independently, would report the operating results set forth in the table below. The following information, in thousands, is presented for the three and nine month periods indicated below:

	Three Months Ended October 31,
	2011							2010
	Wholesale		Wholesale					Wholesale		Wholesale
	Licensed		Non-Licensed		Retail			Licensed		Non-Licensed		Retail
Net sales (1)	$	374,171	$	109,915	$	36,880		$	319,853	$	106,805	$	32,046
Cost of goods sold (1)		262,483		77,171		19,037			216,987		71,289		16,481
Gross profit		111,688		32,744		17,843			102,866		35,516		15,565
Selling, general and administrative		55,774		13,419		17,765			50,650		14,101		15,389
Depreciation and amortization		344		1,000		531			187		1,002		319
Operating profit (loss)	$	55,570	$	18,325	$	(453	)	$	52,029	$	20,413	$	(143	)

	Nine Months Ended October 31,
	2011							2010
	Wholesale		Wholesale					Wholesale		Wholesale
	Licensed		Non-Licensed		Retail			Licensed		Non-Licensed		Retail
Net sales (2)	$	659,985	$	207,433	$	97,721		$	541,940	$	189,324	$	84,363
Cost of goods sold (2)		475,029		150,291		52,518			375,545		131,241		45,104
Gross profit		184,956		57,142		45,203			166,395		58,083		39,259
Selling, general and administrative		122,941		32,112		49,655			108,091		32,414		43,160
Depreciation and amortization		916		2,950		1,385			513		2,585		967
Operating profit (loss)	$	61,099	$	22,080	$	(5,837	)	$	57,791	$	23,084	$	(4,868	)

(1)	Net sales and cost of goods sold for the wholesale licensed and wholesale non-licensed segments include an aggregate of $11.0 million and $8.7 million of intersegment sales to the Company’s retail operations for the three months ended October 31, 2011 and 2010, respectively.
(2)	Net sales and cost of goods sold for the wholesale licensed and wholesale non-licensed segments include an aggregate of $28.3 million and $22.4 million of intersegment sales to the Company’s retail operations for the nine months ended October 31, 2011 and 2010, respectively.

Included in finished goods inventory at October 31, 2011 are approximately $175.6 million, $37.3 million and $52.3 million of inventories for wholesale licensed, wholesale non-licensed and retail operations, respectively. Included in finished goods inventory at October 31, 2010 are approximately $140.1 million, $26.4 million and $38.5 million of inventories for wholesale licensed, wholesale non-licensed and retail operations, respectively. Substantially all of the Company’s other assets are commingled.