Segment Information

The Company’s reportable business segments and respective accounting policies of the segments are the same as those described in Note 1. Management evaluates segment performance based primarily on revenues and earnings (loss) from operations before corporate performance-based compensation costs, net gains (losses) from lease terminations, asset impairment charges and restructuring charges, if any. Corporate overhead, net gains (losses) from lease terminations, asset impairment charges, restructuring charges, interest income, interest expense and other income and expense are evaluated on a consolidated basis and not allocated to the Company’s business segments.

Segment information is summarized as follows (in thousands):



	Year Ended			Year Ended			Year Ended
	Feb 3, 2018 (1)			Jan 28, 2017 (1)			Jan 30, 2016 (1)
Net revenue:
Americas Retail	$	833,077		$	935,479		$	981,942
Americas Wholesale (2)	150,366			146,260			155,594
Europe (2)	998,657			788,194			722,877
Asia (2)	308,899			248,601			240,041
Licensing (3)	72,755			71,919			84,041
Total net revenue (3)	$	2,363,754		$	2,190,453		$	2,184,495
Earnings (loss) from operations:
Americas Retail (2)	$	(17,301	)	$	(22,816	)	$	18,414
Americas Wholesale (2)	25,161			24,190			29,579
Europe (2)	87,376			56,961			53,673
Asia (2)	14,116			(2,381		)	10,309
Licensing (2)	78,102			80,386			92,189
Total segment earnings from operations	187,454			136,340			204,164
Corporate overhead (2)	(102,429		)	(73,859		)	(82,864		)
Net gains (losses) on lease terminations (2) (4)	(11,373		)	695			2,337
Asset impairment charges (2) (5)	(8,479		)	(34,385		)	(2,287		)
Restructuring charges (6)	—			(6,083		)	—
Total earnings from operations	$	65,173		$	22,708		$	121,350
Capital expenditures:
Americas Retail	$	16,899		$	25,881		$	26,384
Americas Wholesale	1,303			3,320			2,854
Europe	46,419			42,080			13,869
Asia	12,111			13,869			6,265
Licensing	—			20			27
Corporate overhead	7,923			5,411			34,445
Total capital expenditures	$	84,655		$	90,581		$	83,844



	Feb 3, 2018		Jan 28, 2017
Total assets:
Americas Retail	$	192,917	$	240,857
Americas Wholesale	181,548		175,136
Europe	850,886		723,251
Asia	242,232		182,405
Licensing	6,255		19,442
Corporate overhead	181,796		193,395
Total assets	$	1,655,634	$	1,534,485

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(1)	The Company operates on a 52/53-week fiscal year calendar, which ends on the Saturday nearest to January 31 of each year. The results for fiscal 2018 included the impact of an additional week which occurred during the fourth quarter ended February 3, 2018.

(2)

During fiscal 2018, net revenue and related costs and expenses for certain globally serviced customers were reclassified into the segment primarily responsible for the relationship. Segment results were also adjusted to exclude corporate performance-based compensation costs, net gains (losses) on lease terminations and asset impairment charges due to the fact that these items are no longer included in the segment results provided to the Company’s chief operating decision maker in order to allocate resources and assess performance. Accordingly, segment results have been adjusted for fiscal 2017 and fiscal 2016 to conform to the current period presentation.


(3)	During the fourth quarter of fiscal 2018, the Company reclassified net royalties received on the Company’s inventory purchases of licensed product from net revenue to cost of product sales. Accordingly, net revenue has been adjusted for fiscal 2017 and fiscal 2016 to conform to the current period presentation. This reclassification had no impact on previously reported earnings from operations.

(4)

During fiscal 2018, the Company incurred net losses on lease terminations related primarily to the modification of certain lease agreements held with a common landlord in North America. During fiscal 2017 and fiscal 2016, the Company recorded net gains on lease terminations related primarily to the early termination of certain lease agreements in Europe. Refer to Note 1 for more information regarding the net gains (losses) on lease terminations.


(5)	During each of the years presented, the Company recognized asset impairment charges for certain retail locations resulting from under-performance and expected store closures. Refer to Note 5 for more information regarding these asset impairment charges.


(6)	Restructuring charges incurred during fiscal 2017 related to plans to better align the Company’s global cost and organizational structure with its current strategic initiatives. Refer to Note 9 for more information regarding these restructuring charges.

The table below presents information regarding geographic areas in which the Company operated. Net revenue is classified primarily based on the country where the Company’s customer is located (in thousands):



	Year Ended		Year Ended		Year Ended
	Feb 3, 2018		Jan 28, 2017 (1)		Jan 30, 2016 (1)
Net revenue:
U.S.	$	742,620	$	836,954	$	892,056
Italy	289,299		257,542		245,451
Canada	203,965		220,720		222,470
South Korea	156,101		157,503		162,200
Other foreign countries	971,769		717,734		662,318
Total net revenue	$	2,363,754	$	2,190,453	$	2,184,495



	Feb 3, 2018		Jan 28, 2017
Long-lived assets:
U.S.	$	109,943	$	115,728
Italy	34,884		31,013
Canada	18,845		13,690
South Korea	9,584		8,664
Other foreign countries	187,214		132,921
Total long-lived assets	$	360,470	$	302,016

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(1)	During the fourth quarter of fiscal 2018, the Company reclassified net royalties received on the Company’s inventory purchases of licensed product from net revenue to cost of product sales. Accordingly, net revenue by geographic area has been adjusted for fiscal 2017 and fiscal 2016 to conform to the current period presentation.