REVENUE RECOGNITION (Tables)

12 Months Ended

Feb. 02, 2019

Revenue, Initial Application Period Cumulative Effect Transition [Line Items]

Schedule of disaggregation of revenue

The following table sets forth supplemental products and services sales information for the Company (in thousands):

	Fiscal Year
	2018		2017		2016
Net sales:
Men's tailored clothing product	$	1,385,320	$	1,351,881	$	1,343,875
Men's non-tailored clothing product		988,973		1,008,663		1,018,907
Women's clothing product		68,518		70,630		73,509
Other (1)		11,936		8,643		9,631
Total retail clothing product		2,454,747		2,439,817		2,445,922
Rental services		399,146		428,355		457,444
Alteration services		148,067		150,005		161,895
Retail dry cleaning services (2)		2,551		34,844		33,140
Total alteration and other services		150,618		184,849		195,035
Total retail sales		3,004,511		3,053,021		3,098,401
Corporate apparel clothing product		235,391		251,325		280,302
Total net sales	$	3,239,902	$	3,304,346	$	3,378,703

⁽¹⁾ Other consists of franchise and licensing revenues and gift card breakage.  Franchise revenues are generally recognized at a point in time while licensing revenues consist primarily of minimum guaranteed royalty amounts recognized over an elapsed time period.

⁽²⁾ On March 3, 2018, we completed the divestiture of our MW Cleaners business.  See Note 3 for additional information.

Schedule of opening and closing balance of contract liabilities

The following table summarizes the opening and closing balances of our contract liabilities (in thousands):

	Balance at		Increase		Balance at
	February 3, 2018		(Decrease)		February 2, 2019
	As Adjusted
Contract liabilities	$	141,552	$	(18,724)	$	122,828

ASU 2014-09

Revenue, Initial Application Period Cumulative Effect Transition [Line Items]

Schedule of cumulative effect of changes in adoption of ASU 606

The following table depicts the cumulative effect of the changes made to our February 3, 2018 balance sheet for the adoption of ASC 606 (in thousands):

	Reported				Adjusted
	Balance at		Impact of		Balance at
	February 3,		Adoption of		February 3,
	2018		ASC 606		2018
Assets:
Accounts receivable, net	$	79,783	$	(303)	$	79,480
Inventories		851,931		(17,837)		834,094
Other current assets		78,252		2,753		81,005
Liabilities:
Accrued expenses and other current liabilities		285,537		32,378		317,915
Deferred taxes, net and other liabilities		164,191		(11,941)		152,250
Equity:
Accumulated deficit		(479,166)		(35,824)		(514,990)

Impact of Adoption of ASU 606 | ASU 2014-09

Revenue, Initial Application Period Cumulative Effect Transition [Line Items]

Schedule of cumulative effect of changes in adoption of ASU 606

In accordance with ASC 606, the following tables reflect the impact on our fiscal 2018 consolidated statement of earnings and balance sheet as if we had continued to apply accounting standards in effect last year (“Legacy GAAP”) (in thousands, except per share amounts):

Statement of Earnings	For the Year Ended February 2, 2019
	As		Amounts Under		Effect of Change
	Reported		Legacy GAAP		Increase/(Decrease)
Net sales:
Total retail sales	$	3,004,511	$	2,979,703	$	(24,808)
Corporate apparel clothing product		235,391		243,610		8,219
Costs and expenses:
Total retail cost of sales		1,691,963		1,690,986		(977)
Total corporate apparel clothing product cost of sales		170,472		177,124		6,652
Selling, general and administrative expenses		974,054		970,703		(3,351)
Provision for income taxes		19,436		15,856		(3,580)
Net earnings		83,240		67,907		(15,333)
Diluted net earnings per common share	$	1.64	$	1.34	$	(0.30)
The decrease of $0.30 between the as reported and amounts under legacy GAAP columns primarily relates to the changes to our loyalty programs of $17.6 million, or $0.28 per diluted share.

Balance Sheet	February 2, 2019
	As		Amounts Under		Effect of Change
	Reported		Legacy GAAP		Increase/(Decrease)
Assets:
Accounts receivable, net	$	73,073	$	74,932	$	1,859
Inventories		830,426		840,769		10,343
Other current assets		70,712		67,523		(3,189)
Liabilities:
Accrued expenses and other current liabilities		282,029		229,962		(52,067)
Deferred taxes, net and other liabilities		125,022		113,055		(11,967)
Equity:
Accumulated deficit	$	(468,048)	$	(447,557)	$	20,491