Segments

9 Months Ended

Oct. 31, 2013

Segment Reporting [Abstract]

Segments

Note 6 – 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 acquired in August 2012, including the retail operations conducted by Vilebrequin, is part of the non-licensed products segment. There is substantial intersegment cooperation, cost allocations and sharing of assets between the licensed and non-licensed products segments. 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 month and nine month periods indicated below:

	Three Months Ended October 31, 2013
	Licensed		Non-Licensed		Retail		Elimination (1)			Total
Net sales	$	504,910	$	124,965	$	55,395	$	(16,568	)	$	668,702
Cost of goods sold		348,755		81,677		27,536		(16,568	)		441,400
Gross profit		156,155		43,288		27,859		—			227,302
Selling, general and administrative		76,996		24,515		23,946		—			125,457
Depreciation and amortization		538		1,716		904		—			3,158
Operating profit	$	78,621	$	17,057	$	3,009	$	—		$	98,687

	Three Months Ended October 31, 2012
	Licensed		Non-Licensed		Retail		Elimination (1)			Total
Net sales	$	402,734	$	109,450	$	44,655	$	(13,326	)	$	543,513
Cost of goods sold		270,308		73,923		22,401		(13,326	)		353,306
Gross profit		132,426		35,527		22,254		—			190,207
Selling, general and administrative		67,385		19,114		19,788		—			106,287
Depreciation and amortization		539		1,579		693		—			2,811
Operating profit	$	64,502	$	14,834	$	1,773	$	—		$	81,109

	Nine Months Ended October 31, 2013
	Licensed		Non-Licensed		Retail		Elimination (1)			Total
Net sales	$	887,871	$	256,055	$	141,742	$	(40,192	)	$	1,245,476
Cost of goods sold		626,746		169,111		70,696		(40,192	)		826,361
Gross profit		261,125		86,944		71,046		—			419,115
Selling, general and administrative		171,747		63,680		64,902		—			300,329
Depreciation and amortization		1,598		5,531		2,394		—			9,523
Operating profit	$	87,780	$	17,733	$	3,750	$	—		$	109,263

	Nine Months Ended October 31, 2012
	Licensed		Non-Licensed		Retail			Elimination (1)			Total
Net sales	$	738,108	$	205,052	$	113,705		$	(32,424	)	$	1,024,441
Cost of goods sold		518,684		145,524		58,918			(32,424	)		690,702
Gross profit		219,424		59,528		54,787			—			333,739
Selling, general and administrative		149,303		38,790		54,262			—			242,355
Depreciation and amortization		1,542		3,556		1,866			—			6,964
Operating profit (loss)	$	68,579	$	17,182	$	(1,341	)	$	—		$	84,420

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

Included in finished goods inventory at October 31, 2013 are approximately $194.3 million, $46.5 million and $74.0 million of inventories for licensed products, non-licensed products and retail operations, respectively. Included in finished goods inventory at October 31, 2012 are approximately $198.3 million, $46.5 million and $55.0 million of inventories for licensed products, non-licensed products and retail operations, respectively. Substantially all other assets are commingled.