View Filing Data

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jul. 29, 2017	Aug. 25, 2017
Document and Entity Information
Entity Registrant Name	OXFORD INDUSTRIES INC
Entity Central Index Key	0000075288
Current Fiscal Year End Date	--02-03
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jul. 29, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		16,826,814

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Jul. 29, 2017	Jan. 28, 2017	Jul. 30, 2016
Current Assets
Cash and cash equivalents	$ 5,983	$ 6,332	$ 8,192
Receivables, net	59,264	58,279	61,081
Inventories, net	119,620	142,175	133,662
Prepaid expenses	19,626	24,842	22,917
Total Current Assets	204,493	231,628	225,852
Property and equipment, net	193,668	193,931	190,195
Intangible assets, net	174,262	175,245	186,565
Goodwill	60,059	60,015	50,911
Other non-current assets, net	24,265	24,340	23,041
Total Assets	656,747	685,159	676,564
Current Liabilities
Accounts payable	60,332	76,825	58,957
Accrued compensation	25,403	19,711	20,689
Other accrued expenses and liabilities	32,757	32,000	32,963
Liabilities related to discontinued operations	3,425	2,860	0
Total Current Liabilities	121,917	131,396	112,609
Long-term debt	37,601	91,509	105,941
Other non-current liabilities	70,836	70,002	68,529
Deferred taxes	15,520	13,578	12,620
Liabilities related to discontinued operations	1,507	2,544	3,469
Commitments and contingencies
Shareholders’ Equity
Common stock, $1.00 par value per share	16,827	16,769	16,769
Additional paid-in capital	132,668	131,144	127,595
Retained earnings	264,282	233,493	234,142
Accumulated other comprehensive loss	(4,411)	(5,276)	(5,110)
Total Shareholders’ Equity	409,366	376,130	373,396
Total Liabilities and Shareholders’ Equity	$ 656,747	$ 685,159	$ 676,564

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Jul. 29, 2017	Jan. 28, 2017	Jul. 30, 2016
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 1.00	$ 1.00	$ 1.00

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 29, 2017	Jul. 30, 2016	Jul. 29, 2017	Jul. 30, 2016
Income Statement [Abstract]
Net sales	$ 284,709	$ 282,996	$ 557,072	$ 539,231
Cost of goods sold	118,740	118,201	231,693	222,971
Gross profit	165,969	164,795	325,379	316,260
SG&A	132,911	129,437	266,102	252,936
Royalties and other operating income	3,344	3,332	7,084	7,372
Operating income	36,402	38,690	66,361	70,696
Interest expense, net	742	1,177	1,672	1,791
Earnings from continuing operations before income taxes	35,660	37,513	64,689	68,905
Income taxes	12,971	13,638	24,803	24,853
Net earnings from continuing operations	22,689	23,875	39,886	44,052
Earnings from discontinued operations, net of taxes	0	0	0	0
Net earnings	$ 22,689	$ 23,875	$ 39,886	$ 44,052
Net earnings from continuing operations per share:
Basic (in dollars per share)	$ 1.37	$ 1.45	$ 2.41	$ 2.67
Diluted (in dollars per share)	1.36	1.44	2.39	2.65
Earnings from discontinued operations, net of taxes, per share:
Basic (in dollars per share)	0.00	0.00	0.00	0.00
Diluted (in dollars per share)	0.00	0.00	0.00	0.00
Net earnings per share:
Basic (in dollars per share)	1.37	1.45	2.41	2.67
Diluted (in dollars per share)	$ 1.36	$ 1.44	$ 2.39	$ 2.65
Weighted average shares outstanding:
Basic (in shares)	16,605	16,515	16,577	16,509
Diluted (in shares)	16,700	16,623	16,698	16,620
Dividends declared per share (in dollars per share)	$ 0.27	$ 0.27	$ 0.54	$ 0.54

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 29, 2017	Jul. 30, 2016	Jul. 29, 2017	Jul. 30, 2016
Statement of Comprehensive Income [Abstract]
Net earnings	$ 22,689	$ 23,875	$ 39,886	$ 44,052
Other comprehensive income (loss), net of taxes:
Net foreign currency translation adjustment	1,151	(261)	865	1,719
Total other comprehensive (loss) income, net of taxes	1,151	(261)	865	1,719
Comprehensive income	$ 23,840	$ 23,614	$ 40,751	$ 45,771

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jul. 29, 2017	Jul. 30, 2016
Cash Flows From Operating Activities:
Net earnings	$ 39,886	$ 44,052
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation	19,486	19,278
Amortization of intangible assets	1,082	1,120
Equity compensation expense	3,075	3,477
Amortization of deferred financing costs	211	480
Deferred income taxes	1,942	4,985
Changes in working capital, net of acquisitions and dispositions:
Receivables, net	(1,336)	5,370
Inventories, net	23,731	12,985
Prepaid expenses	5,298	144
Current liabilities	(9,955)	(18,475)
Other non-current assets, net	22	(714)
Other non-current liabilities	(307)	173
Cash provided by operating activities	83,135	72,875
Cash Flows From Investing Activities:
Acquisitions, net of cash acquired	(614)	(94,960)
Purchases of property and equipment	(18,527)	(24,643)
Other investing activities	0	(2,029)
Cash used in investing activities	(19,141)	(121,632)
Cash Flows From Financing Activities:
Repayment of revolving credit arrangements	(163,703)	(304,212)
Proceeds from revolving credit arrangements	109,794	366,178
Deferred financing costs paid	0	(1,385)
Proceeds from issuance of common stock	713	677
Repurchase of equity awards for employee tax withholding liabilities	(2,206)	(1,868)
Cash dividends declared and paid	(9,096)	(9,062)
Cash (used in) provided by financing activities	(64,498)	50,328
Net change in cash and cash equivalents	(504)	1,571
Effect of foreign currency translation on cash and cash equivalents	155	298
Cash and cash equivalents at the beginning of year	6,332	6,323
Cash and cash equivalents at the end of the period	5,983	8,192
Supplemental disclosure of cash flow information:
Cash paid for interest, net	1,543	1,477
Cash paid for income taxes	$ 18,128	$ 16,996

Basis of Presentation:	6 Months Ended
Basis of Presentation:	Jul. 29, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation:	Basis of Presentation: The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with GAAP for interim financial reporting and the instructions of Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. We believe the accompanying unaudited condensed consolidated financial statements reflect all normal, recurring adjustments that are necessary for a fair presentation of our financial position and results of operations as of the dates and for the periods presented. Results of operations for the interim periods presented are not necessarily indicative of results to be expected for our full fiscal year. The significant accounting policies applied during the interim periods presented are consistent with the significant accounting policies described in our Annual Report on Form 10-K for Fiscal 2016. Unless otherwise indicated, all references to assets, liabilities, revenues and expenses in these financial statements reflect continuing operations and exclude any amounts related to our former Ben Sherman operating group, which is classified as discontinued operations for all periods presented. In order to conform to current period classification, certain gift with purchase amounts, totaling $0.9 million and $1.6 million previously reported as SG&A, have been reclassified to cost of goods sold for the Second Quarter of Fiscal 2016 and the First Half of Fiscal 2016, respectively. This reclassification resulted in a decrease in SG&A and a corresponding increase in cost of goods sold in the Second Quarter of Fiscal 2016 and the First Half of Fiscal 2016, with no impact on previously reported net earnings. In January 2017, the FASB issued new guidance that provides a more narrow framework for evaluating whether a set of assets and activities constitute a business. We early adopted this guidance in the Second Quarter of Fiscal 2017. The adoption of this guidance did not have a material impact upon adoption. The impact of the guidance in the future will depend on the facts and circumstances of any specific future transactions. Recently Issued Accounting Standards Applicable to Future Periods In May 2014, the FASB issued guidance which provides a single, comprehensive accounting model for revenue arising from contracts with customers. This guidance has been revised and clarified through supplemental adoption guidance subsequent to May 2014. This new revenue recognition guidance supersedes most of the existing revenue recognition guidance which specifies that revenue is recognized when risks and rewards transfer to a customer. Under the new guidance, revenue will be recognized pursuant to a five-step approach: (1) identify the contracts with the customer; (2) identify the separate performance obligations in the contracts; (3) determine the transaction price; (4) allocate the transaction price to separate performance obligations; and (5) recognize revenue when, or as, each performance obligation is satisfied. The new guidance also requires additional disclosures about the nature, timing and uncertainty of revenue and cash flow arising from customer contracts, including significant judgments and changes in judgments. The new guidance is effective for us beginning in Fiscal 2018 and may be applied via the full retrospective method or through the modified retrospective method. At this time we anticipate utilizing the modified retrospective method with a cumulative adjustment to opening retained earnings at the date of adoption in the First Quarter of Fiscal 2018. We are currently reviewing our revenue streams, including retail, e-commerce, wholesale and royalty income, to evaluate the potential impact of the adoption of the revised guidance on our consolidated financial statements, but we have not yet completed this assessment. While we do not anticipate a significant change in the timing of revenue recognition at this time, areas of focus include certain variable consideration items such as estimates of anticipated wholesale customer allowances, returns or other reserves. In February 2016, the FASB issued a new accounting standard on leasing. The new standard will require companies to record most leases as assets and liabilities on the balance sheet. For these leases, we will be required to recognize a right to use asset and lease liability for the obligations created by the leases. This guidance will be effective in Fiscal 2019 with early adoption permitted. The guidance requires the use of the modified retrospective transition approach. We are currently in the process of evaluating the impact of the new guidance on our consolidated financial statements, but considering our existing operating leases, we anticipate that the new lease guidance will have a significant impact on our consolidated balance sheet by requiring the recognition of a significant amount of lease-related assets and liabilities. In June 2016, the FASB issued revised guidance on the measurement of credit losses on financial instruments. This guidance amends the impairment model by requiring companies to use a forward-looking approach based on expected losses to estimate credit losses on certain financial instruments, including trade receivables. This guidance will be effective in Fiscal 2020 with early adoption permitted. We are currently assessing the impact that adopting this guidance will have on our consolidated financial statements. In October 2016, the FASB issued revised guidance on the recognition of current and deferred income taxes for intra-entity asset transfers. The revised guidance requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset (other than inventory) when the transfer occurs. This guidance will be effective in Fiscal 2018 with early adoption permitted. The guidance requires the use of the modified retrospective method of adoption which results in a cumulative adjustment to retained earnings as of the beginning of the period of adoption. We are currently in the process of assessing the impact that adopting this guidance will have on our consolidated financial statements. In January 2017, the FASB issued revised guidance on the subsequent measurement of goodwill which eliminates the second step from the quantitative goodwill impairment test. The revised guidance requires companies to compare the fair value of a reporting unit with its carrying amount and record an impairment charge for the amount that the carrying amount exceeds the fair value, up to the total amount of goodwill allocated to that reporting unit. This guidance will be effective in 2020 with early adoption permitted for goodwill impairment testing dates after January 1, 2017. We are currently assessing the impact that adopting this guidance will have on our consolidated financial statements.

Operating Group Information:

6 Months Ended

Jul. 29, 2017

Segment Reporting [Abstract]

Operating Group Information:

Operating Group Information: Our business is primarily operated through our Tommy Bahama, Lilly Pulitzer, Lanier Apparel and Southern Tide operating groups. We acquired Southern Tide on April 19, 2016 during the First Quarter of Fiscal 2016. We identify our operating groups based on the way our management organizes the components of our business for purposes of allocating resources and assessing performance. Our operating group structure reflects a brand-focused management approach, emphasizing operational coordination and resource allocation across each brand's direct to consumer, wholesale and licensing operations, as applicable.

Tommy Bahama, Lilly Pulitzer and Southern Tide each design, source, market and distribute apparel and related products bearing their respective trademarks and also license their trademarks for other product categories, while Lanier Apparel designs, sources and distributes branded and private label men's products. Corporate and Other is a reconciling category for reporting purposes and includes our corporate offices, substantially all financing activities, elimination of inter-segment sales, LIFO accounting adjustments for inventory, other costs that are not allocated to the operating groups and operations of our other businesses which are not included in our operating groups, including our Lyons, Georgia distribution center operations. For a more extensive description of our Tommy Bahama, Lilly Pulitzer, Lanier Apparel and Southern Tide operating groups, see Part I, Item 1. Business included in our Annual Report on Form 10-K for Fiscal 2016. The table below presents certain financial information (in thousands) about our operating groups, as well as Corporate and Other.



	Second Quarter Fiscal 2017			Second Quarter Fiscal 2016			First Half Fiscal 2017			First Half Fiscal 2016
Net sales
Tommy Bahama	$	187,580		$	184,111		$	360,076		$	346,830
Lilly Pulitzer	69,458			69,724			132,801			134,458
Lanier Apparel	17,848			19,541			41,204			46,152
Southern Tide	9,395			9,155			22,037			10,580
Corporate and Other	428			465			954			1,211
Total net sales	$	284,709		$	282,996		$	557,072		$	539,231
Depreciation and amortization
Tommy Bahama	$	7,714		$	7,869		$	15,288		$	15,574
Lilly Pulitzer	2,079			1,867			4,074			3,595
Lanier Apparel	150			118			298			212
Southern Tide	103			210			209			267
Corporate and Other	332			380			699			750
Total depreciation and amortization	$	10,378		$	10,444		$	20,568		$	20,398
Operating income (loss)
Tommy Bahama	$	21,916		$	20,578		$	37,954		$	33,896
Lilly Pulitzer	20,982			22,640			38,669			43,434
Lanier Apparel	195			78			1,053			2,943
Southern Tide	645			(1		)	2,749			47
Corporate and Other	(7,336		)	(4,605		)	(14,064		)	(9,624		)
Total operating income	$	36,402		$	38,690		$	66,361		$	70,696
Interest expense, net	742			1,177			1,672			1,791
Earnings from continuing operations before income taxes	$	35,660		$	37,513		$	64,689		$	68,905

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599

+ Details

Accumulated Other Comprehensive Loss:

6 Months Ended

Jul. 29, 2017

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Loss:

Accumulated Other Comprehensive Loss: Substantially all amounts included in accumulated other comprehensive (loss) income, as well as the change in the balance, for each period presented, reflect the net foreign currency translation adjustment related to our Tommy Bahama operations in Canada, Japan and Australia. No amounts of accumulated other comprehensive loss were reclassified from accumulated other comprehensive loss into our consolidated statements of operations during any period presented. The following table details the changes in our accumulated other comprehensive loss (in thousands), net of related income taxes, for the periods specified:



	Second Quarter Fiscal 2017			Second Quarter Fiscal 2016			First Half Fiscal 2017			First Half Fiscal 2016
Beginning balance	$	(5,562	)	$	(4,849	)	$	(5,276	)	$	(6,829	)
Net foreign currency translation adjustment	1,151			(261		)	865			1,719
Ending balance	$	(4,411	)	$	(5,110	)	$	(4,411	)	$	(5,110	)

Income Taxes:	6 Months Ended
Income Taxes:	Jul. 29, 2017
Income Tax Disclosure [Abstract]
Income Taxes:	Income Taxes: Income taxes reflects effective tax rates of 36.4%, 36.4%, 38.3% and 36.1% for the Second Quarter of Fiscal 2017, the Second Quarter of Fiscal 2016, the First Half of Fiscal 2017 and First Half of Fiscal 2016, respectively. The effective tax rates for each period presented were impacted by our earnings in certain foreign jurisdictions, which have lower tax rates than domestic earnings resulting in a lower consolidated effective tax rate, as well as the net impact of other items, including the proportion of domestic versus foreign earnings or losses during the period, which varies during the year and from one year to the next. Additionally, for the First Half of Fiscal 2016 the effective tax rate was favorably impacted by the utilization of certain foreign operating loss carryforward amounts, while the First Half of Fiscal 2017 was unfavorably impacted by certain stock awards that vested during the First Quarter of Fiscal 2017, which had a higher grant date fair value for accounting purposes than the vesting date fair value for tax deduction purposes, resulting in an increase in income tax expense.

Basis of Presentation: (Policies)	6 Months Ended
Basis of Presentation: (Policies)	Jul. 29, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recently Issued Accounting Standards Applicable to Future Periods	Recently Issued Accounting Standards Applicable to Future Periods In May 2014, the FASB issued guidance which provides a single, comprehensive accounting model for revenue arising from contracts with customers. This guidance has been revised and clarified through supplemental adoption guidance subsequent to May 2014. This new revenue recognition guidance supersedes most of the existing revenue recognition guidance which specifies that revenue is recognized when risks and rewards transfer to a customer. Under the new guidance, revenue will be recognized pursuant to a five-step approach: (1) identify the contracts with the customer; (2) identify the separate performance obligations in the contracts; (3) determine the transaction price; (4) allocate the transaction price to separate performance obligations; and (5) recognize revenue when, or as, each performance obligation is satisfied. The new guidance also requires additional disclosures about the nature, timing and uncertainty of revenue and cash flow arising from customer contracts, including significant judgments and changes in judgments. The new guidance is effective for us beginning in Fiscal 2018 and may be applied via the full retrospective method or through the modified retrospective method. At this time we anticipate utilizing the modified retrospective method with a cumulative adjustment to opening retained earnings at the date of adoption in the First Quarter of Fiscal 2018. We are currently reviewing our revenue streams, including retail, e-commerce, wholesale and royalty income, to evaluate the potential impact of the adoption of the revised guidance on our consolidated financial statements, but we have not yet completed this assessment. While we do not anticipate a significant change in the timing of revenue recognition at this time, areas of focus include certain variable consideration items such as estimates of anticipated wholesale customer allowances, returns or other reserves. In February 2016, the FASB issued a new accounting standard on leasing. The new standard will require companies to record most leases as assets and liabilities on the balance sheet. For these leases, we will be required to recognize a right to use asset and lease liability for the obligations created by the leases. This guidance will be effective in Fiscal 2019 with early adoption permitted. The guidance requires the use of the modified retrospective transition approach. We are currently in the process of evaluating the impact of the new guidance on our consolidated financial statements, but considering our existing operating leases, we anticipate that the new lease guidance will have a significant impact on our consolidated balance sheet by requiring the recognition of a significant amount of lease-related assets and liabilities. In June 2016, the FASB issued revised guidance on the measurement of credit losses on financial instruments. This guidance amends the impairment model by requiring companies to use a forward-looking approach based on expected losses to estimate credit losses on certain financial instruments, including trade receivables. This guidance will be effective in Fiscal 2020 with early adoption permitted. We are currently assessing the impact that adopting this guidance will have on our consolidated financial statements. In October 2016, the FASB issued revised guidance on the recognition of current and deferred income taxes for intra-entity asset transfers. The revised guidance requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset (other than inventory) when the transfer occurs. This guidance will be effective in Fiscal 2018 with early adoption permitted. The guidance requires the use of the modified retrospective method of adoption which results in a cumulative adjustment to retained earnings as of the beginning of the period of adoption. We are currently in the process of assessing the impact that adopting this guidance will have on our consolidated financial statements. In January 2017, the FASB issued revised guidance on the subsequent measurement of goodwill which eliminates the second step from the quantitative goodwill impairment test. The revised guidance requires companies to compare the fair value of a reporting unit with its carrying amount and record an impairment charge for the amount that the carrying amount exceeds the fair value, up to the total amount of goodwill allocated to that reporting unit. This guidance will be effective in 2020 with early adoption permitted for goodwill impairment testing dates after January 1, 2017. We are currently assessing the impact that adopting this guidance will have on our consolidated financial statements.

Operating Group Information: (Tables)

6 Months Ended

Jul. 29, 2017

Segment Reporting [Abstract]

Schedule of information pertaining to the operating groups

The table below presents certain financial information (in thousands) about our operating groups, as well as Corporate and Other.



	Second Quarter Fiscal 2017			Second Quarter Fiscal 2016			First Half Fiscal 2017			First Half Fiscal 2016
Net sales
Tommy Bahama	$	187,580		$	184,111		$	360,076		$	346,830
Lilly Pulitzer	69,458			69,724			132,801			134,458
Lanier Apparel	17,848			19,541			41,204			46,152
Southern Tide	9,395			9,155			22,037			10,580
Corporate and Other	428			465			954			1,211
Total net sales	$	284,709		$	282,996		$	557,072		$	539,231
Depreciation and amortization
Tommy Bahama	$	7,714		$	7,869		$	15,288		$	15,574
Lilly Pulitzer	2,079			1,867			4,074			3,595
Lanier Apparel	150			118			298			212
Southern Tide	103			210			209			267
Corporate and Other	332			380			699			750
Total depreciation and amortization	$	10,378		$	10,444		$	20,568		$	20,398
Operating income (loss)
Tommy Bahama	$	21,916		$	20,578		$	37,954		$	33,896
Lilly Pulitzer	20,982			22,640			38,669			43,434
Lanier Apparel	195			78			1,053			2,943
Southern Tide	645			(1		)	2,749			47
Corporate and Other	(7,336		)	(4,605		)	(14,064		)	(9,624		)
Total operating income	$	36,402		$	38,690		$	66,361		$	70,696
Interest expense, net	742			1,177			1,672			1,791
Earnings from continuing operations before income taxes	$	35,660		$	37,513		$	64,689		$	68,905

Accumulated Other Comprehensive Loss: (Tables)

6 Months Ended

Jul. 29, 2017

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of changes in the entity's accumulated other comprehensive loss by component, net of related income taxes

The following table details the changes in our accumulated other comprehensive loss (in thousands), net of related income taxes, for the periods specified:



	Second Quarter Fiscal 2017			Second Quarter Fiscal 2016			First Half Fiscal 2017			First Half Fiscal 2016
Beginning balance	$	(5,562	)	$	(4,849	)	$	(5,276	)	$	(6,829	)
Net foreign currency translation adjustment	1,151			(261		)	865			1,719
Ending balance	$	(4,411	)	$	(5,110	)	$	(4,411	)	$	(5,110	)

Basis of Presentation: (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
Basis of Presentation: (Details) - USD ($) $ in Millions	Jul. 30, 2016	Jul. 30, 2016
Selling, General and Administrative Expenses
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Prior period reclassification adjustment	$ 0.9	$ 1.6
Cost of Goods Sold
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Prior period reclassification adjustment	$ (0.9)	$ (1.6)

Operating Group Information: (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 29, 2017	Jul. 30, 2016	Jul. 29, 2017	Jul. 30, 2016
Operating group information
Net sales	$ 284,709	$ 282,996	$ 557,072	$ 539,231
Depreciation and amortization	10,378	10,444	20,568	20,398
Operating income (loss)	36,402	38,690	66,361	70,696
Earnings from continuing operations before income taxes	35,660	37,513	64,689	68,905
Corporate and Other
Operating group information
Net sales	428	465	954	1,211
Depreciation and amortization	332	380	699	750
Operating income (loss)	(7,336)	(4,605)	(14,064)	(9,624)
Tommy Bahama \| Operating Groups
Operating group information
Net sales	187,580	184,111	360,076	346,830
Depreciation and amortization	7,714	7,869	15,288	15,574
Operating income (loss)	21,916	20,578	37,954	33,896
Lilly Pulitzer \| Operating Groups
Operating group information
Net sales	69,458	69,724	132,801	134,458
Depreciation and amortization	2,079	1,867	4,074	3,595
Operating income (loss)	20,982	22,640	38,669	43,434
Lanier Apparel \| Operating Groups
Operating group information
Net sales	17,848	19,541	41,204	46,152
Depreciation and amortization	150	118	298	212
Operating income (loss)	195	78	1,053	2,943
Southern Tide \| Operating Groups
Operating group information
Net sales	9,395	9,155	22,037	10,580
Depreciation and amortization	103	210	209	267
Operating income (loss)	$ 645	$ (1)	$ 2,749	$ 47

Accumulated Other Comprehensive Loss: (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 29, 2017	Jul. 30, 2016	Jul. 29, 2017	Jul. 30, 2016
Changes in the entity's accumulated other comprehensive loss by component, net of related income taxes
Beginning balance	$ (5,562)	$ (4,849)	$ (5,276)	$ (6,829)
Net foreign currency translation adjustment	1,151	(261)	865	1,719
Ending balance	$ (4,411)	$ (5,110)	$ (4,411)	$ (5,110)

Income Taxes: (Details)	3 Months Ended		6 Months Ended
Income Taxes: (Details)	Jul. 29, 2017	Jul. 30, 2016	Jul. 29, 2017	Jul. 30, 2016
Income Tax Disclosure [Abstract]
Effective income tax rate, percent	36.40%	36.40%	38.30%	36.10%