Segment Information

6 Months Ended

Jul. 30, 2011

Segment Information

Segment Information

(7)           Segment Information

The Company’s businesses are grouped into five reportable segments for management and internal financial reporting purposes:  North American Retail, Europe, Asia, North American Wholesale and Licensing. Management evaluates segment performance based primarily on revenues and earnings from operations. The Company believes this segment reporting reflects how its five business segments are managed and each segment’s performance is evaluated. The Europe segment includes the Company’s wholesale and retail operations in Europe and the Middle East. The North American Retail segment includes the Company’s retail operations in North America. The Asia segment includes the Company’s wholesale and retail operations in Asia. The North American Wholesale segment includes the Company’s wholesale operations in North America and export sales to Latin and South America. The Licensing segment includes the worldwide licensing operations of the Company. The business segment operating results exclude corporate overhead costs which consist of shared costs of the organization. These costs are presented separately and generally include, among other things, the following unallocated corporate costs: information technology, human resources, global advertising and marketing, accounting and finance, executive compensation, facilities and legal.

Net revenue and earnings from operations are summarized as follows for the three and six months ended July 30, 2011 and July 31, 2010 (in thousands):

	Three Months Ended						Six Months Ended
	July 30, 2011			July 31, 2010			July 30, 2011			July 31, 2010
Net revenue:
Europe	$	288,818		$	222,331		$	499,027		$	409,299
North American Retail	261,053			241,802			508,510			477,575
Asia	55,283			42,173			115,370			90,759
North American Wholesale	43,868			44,270			89,514			86,998
Licensing	28,137			26,559			56,982			51,845
	$	677,159		$	577,135		$	1,269,403		$	1,116,476
Earnings (loss) from operations:
Europe	$	44,218		$	50,349		$	77,399		$	84,831
North American Retail	32,914			26,310			51,544			50,682
Asia	4,856			5,701			11,957			12,838
North American Wholesale	10,522			10,711			21,636			20,922
Licensing	25,200			23,690			50,490			45,550
Corporate overhead	(24,181		)	(20,460		)	(48,564		)	(47,195		)
	$	93,529		$	96,301		$	164,462		$	167,628

Due to the seasonal nature of the Company’s business segments, the above net revenue and operating results are not necessarily indicative of the results that may be expected for the full fiscal year.