Revenue Recognition

12 Months Ended

Jan. 28, 2023

Revenue from Contract with Customer [Abstract]

Revenue Recognition

REVENUE RECOGNITION:

Disaggregated Revenue

The following table disaggregates our operating segment revenue by brand, which we believe provides a meaningful depiction of the nature of our revenue. Amounts shown include licensing and wholesale income, which is not a significant component of total revenue, and is aggregated within the respective brands in the table below.

	Fiscal 2022		%		Fiscal 2021		%		Fiscal 2020		%
Chico’s	$	1,044,552	48.7	%	$	815,647	45.1	%	$	595,968	45.0	%
WHBM	637,602		29.8		516,164		28.5		376,236		28.4
Soma	459,866		21.5		478,116		26.4		351,847		26.6
Total net sales	$	2,142,020	100.0	%	$	1,809,927	100.0	%	$	1,324,051	100.0	%

Contract Liability

Contract liabilities on the accompanying consolidated balance sheets are comprised of obligations associated with our gift card and customer rewards programs. As of January 28, 2023 and January 29, 2022, contract liabilities primarily consisted of gift cards of $42.6 million and $43.5 million, respectively. For fiscal 2022, the Company recognized $33.9 million of revenue that was previously included in the gift card contract liability as of January 29, 2022. For fiscal 2021, the Company recognized $26.2 million of revenue that was previously included in the gift card contract liability as of January 30, 2021.

The Company maintains a customer rewards program in which customers earn points toward rewards for qualifying purchases and other marketing activities. Upon reaching specified point values, customers are issued a reward, which they may redeem on merchandise purchases at the Company’s stores or on its website. Generally, rewards earned must be redeemed within 60 days from the date of issuance. The Company defers a portion of the merchandise sales based on the estimated standalone selling price of the points earned. This deferred revenue is recognized as the rewards are redeemed or expire. The contract liability for our rewards program was not material in fiscal 2021.

	January 28, 2023
Beginning balance rewards deferred revenue	$	626
Reduction in revenue / (revenue recognized)	6,815
Ending balance rewards deferred revenue	$	7,441

Performance Obligation

For fiscal 2022, 2021 and 2020, revenue recognized from performance obligations to customers related to prior periods were not material. Revenue to be recognized in future periods related to performance obligations is not expected to be material.