NOTE K — SEGMENTS

The Company’s reportable segments are business units that offer products through different channels of distribution and are managed separately. The Company aggregates its operating divisions into three reportable segments; licensed products, non-licensed products and retail operations. The Vilebrequin business was added to the non-licensed segment upon its acquisition in August 2012. 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 fiscal years ended:


	January 31, 2013
	Licensed		Non-Licensed		Retail		Elimination(1)			Total
Net sales	$	981,845	$	281,916	$	196,150	$	(60,192	)	$	1,399,719
Cost of goods sold		702,288		203,624		102,362		(60,192	)		948,082

Gross profit		279,557		78,292		93,788		—			451,637
Selling, general and administrative(2)		202,247		57,840		81,155		—			341,242
Depreciation and amortization		2,164		5,060		2,683		—			9,907

Operating profit	$	75,146	$	15,392	$	9,950	$	—		$	100,488


	January 31, 2012
	Licensed		Non-Licensed		Retail		Elimination(1)			Total
Net sales	$	840,717	$	277,615	$	164,343	$	(51,474	)	$	1,231,201
Cost of goods sold		617,716		205,504		88,739		(51,474	)		860,485

Gross profit		223,001		72,111		75,604		—			370,716
Selling, general and administrative		164,070		42,295		70,654		—			277,019
Depreciation and amortization		1,360		4,126		1,987		—			7,473

Operating profit	$	57,571	$	25,690	$	2,963	$	—		$	86,224



	January 31, 2011
	Licensed		Non-Licensed		Retail		Elimination(1)			Total
Net sales	$	718,537	$	244,031	$	142,292	$	(41,456	)	$	1,063,404
Cost of goods sold		504,935		173,578		75,302		(41,456	)		712,359

Gross profit		213,602		70,453		66,990		—			351,045
Selling, general and administrative		142,510		42,521		63,349		—			248,380
Depreciation and amortization		719		3,615		1,399		—			5,733

Operating profit	$	70,373	$	24,317	$	2,242	$	—		$	96,932

(1)	Represents intersegment sales to the Company’s retail operations.

(2)	Includes approximately $4.0 million of expenses and integration costs associated with the Vilebrequin acquistion which have been allocated across segments.

The Company allocates overhead to its business segments on various bases, which include units shipped, space utilization, inventory levels, and relative sales levels, among other factors. The method of allocation is consistent on a year-to-year basis.


	2013				2012				2011
Geographic Region	Revenues		Long-Lived Assets		Revenues		Long-Lived Assets		Revenues		Long-Lived Assets
	(In thousands)
United States	$	1,333,885	$	81,606	$	1,185,800	$	80,817	$	1,025,763	$	77,042
Non-United States		65,834		119,582		45,401		508		37,641		574

	$	1,399,719	$	201,188	$	1,231,201	$	81,325	$	1,063,404	$	77,616

Capital expenditures for locations outside of the United States were not significant in each of the fiscal years ended January 31, 2013, 2012 and 2011.

Included in finished goods inventory at January 31, 2013 are approximately $180.9 million, $52.0 million and $38.2 million of inventories for licensed products, non-licensed products and retail operations, respectively. Included in finished goods inventory at January 31, 2012 are approximately $170.4 million, $35.2 million and $39.3 million of inventories for licensed products, non-licensed products and retail operations, respectively. Substantially all other assets are commingled.