XML 36 R25.htm IDEA: XBRL DOCUMENT v3.21.1
Business Segment Information
 3 Months Ended
Feb. 28, 2021
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 Ended
 
February 28,
2021(1)
February 23,
2020(1)
 (Dollars in thousands)
Net revenues:
Americas$641,272 $745,580 
Europe429,026 512,943 
Asia235,304 247,603 
Total net revenues$1,305,602 $1,506,126 
Operating income:
Americas$130,697 $124,039 
Europe111,122 132,436 
Asia29,299 32,668 
Regional operating income271,118 289,143 
Corporate expenses93,995 110,361 
Total operating income177,123 178,782 
Interest expense(23,310)(16,654)
Other income, net858 2,700 
Income before income taxes$154,671 $164,828 
_____________
(1)For the quarter ended February 28, 2021, net revenues were adversely impacted by the COVID-19 pandemic, as approximately 15% of the Company's owned and operated retail stores remained closed at quarter end. For the quarter ended February 23, 2020, the impact of the COVID-19 pandemic was minimal, as temporary store closures were primarily within China. See Note 1 for more information.