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Business Segment Information
 9 Months Ended
Aug. 23, 2020
Segment Reporting [Abstract]  
BUSINESS SEGMENT INFORMATION BUSINESS SEGMENT INFORMATION
The Company manages its business according to three regional segments: the Americas, Europe and Asia. The Company considers its chief executive officer to be the Company’s chief operating decision maker. The Company’s chief operating decision maker manages business operations, evaluates performance and allocates resources based on the regional segments’ net revenues and operating income.
Business segment information for the Company is as follows: 
 Three Months EndedNine Months Ended
 
August 23,
 2020(1)
August 25,
2019
August 23,
 2020(1)
August 25,
2019
 (Dollars in thousands)
Net revenues:
Americas$549,798 $770,817 $1,578,106 $2,180,779 
Europe390,373 463,258 1,032,339 1,326,303 
Asia122,914 213,006 456,308 687,397 
Total net revenues$1,063,085 $1,447,081 $3,066,753 $4,194,479 
Operating income (loss):
Americas$92,294 $151,558 $178,585 $376,845 
Europe87,611 102,911 152,290 283,244 
Asia(23,301)17,410 (19,132)77,438 
Regional operating income (loss)156,604 271,879 311,743 737,527 
Corporate:
Restructuring1,071 — 68,442 — 
Other corporate staff costs and expenses(2)
63,208 100,661 420,438 302,499 
Corporate expenses64,279 100,661 488,880 302,499 
Total operating income (loss)92,325 171,218 (177,137)435,028 
Interest expense(28,437)(15,292)(56,337)(47,962)
Underwriter commission paid on behalf of selling stockholders— — — (24,860)
Other income, net(12,274)(4,369)(8,269)(2,849)
Income (loss) before income taxes$51,614 $151,557 $(241,743)$359,357 
_____________
(1)For the three-month and nine-month periods ended August 23, 2020, the Company's business and results of operations were impacted by temporary store closures and reduced traffic and consumer demand as a result of the COVID-19 pandemic, with the majority of the impact occurring in the second quarter as most company-operated and wholesale customer doors were temporarily closed. Refer to Note 1 for more information.
(2)Corporate staff costs and expenses for the three-month and nine-month periods ended August 23, 2020 includes incremental COVID-19 related charges that management does not attribute to any of the regional segments in order to provide increased transparency and comparability of regional performance.
During the three-month period ended August 23, 2020, the Company recognized a $1.8 million reduction in incremental inventory reserves related to the Europe regional segment and charges for adverse fabric purchase commitments of $2.0 million related to the Asia regional segment. Recoveries of doubtful accounts of $6.6 million was recognized, of which $6.3 million and $0.3 million, were related to the Europe and Asia regional segments, respectively.
During the nine-month period ended August 23, 2020, the Company recognized $48.1 million of incremental inventory reserves of which $28.8 million, $11.7 million and $7.6 million were related to the Americas, Europe and Asia regional segments, respectively, and charges for adverse fabric purchase commitments of $2.0 million related to the Asia regional segment. Net charges related to incremental allowance for doubtful accounts of $8.5 million were recognized, of which $6.3 million and $2.2 million were related to the Americas and Europe regional segments, respectively. Additionally, the Company recognized $54.1 million in impairment of long-lived assets related to certain retail locations, of which $48.6 million, $3.7 million and $1.8 million, were related to the Americas, Europe and Asia regional segments, respectively. Refer to Note 1 for additional information.