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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended November 2, 2019

or

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from           to         

Commission File Number: 1-4365

OXFORD INDUSTRIES, INC.

(Exact name of registrant as specified in its charter)

Georgia

   

58-0831862

(State or other jurisdiction of incorporation or organization)

(I.R.S. Employer Identification No.)

999 Peachtree Street, N.E., Suite 688, Atlanta, Georgia 30309

(Address of principal executive offices)                               (Zip Code)

(404) 659-2424

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Common Stock, $1 par value

OXM

New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer

Accelerated filer

Non-accelerated filer

Smaller reporting company

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No

As of November 30, 2019, there were 17,040,004 shares of the registrant’s common stock outstanding.

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OXFORD INDUSTRIES, INC.

INDEX TO FORM 10-Q

For the Third Quarter of Fiscal 2019

Page

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

Condensed Consolidated Balance Sheets (Unaudited)

5

Condensed Consolidated Statements of Operations (Unaudited)

6

Condensed Consolidated Statements of Comprehensive Income (Unaudited)

7

Condensed Consolidated Statements of Cash Flows (Unaudited)

8

Notes to Condensed Consolidated Financial Statements (Unaudited)

9

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

16

Item 3. Quantitative and Qualitative Disclosures About Market Risk

40

Item 4. Controls and Procedures

41

PART II. OTHER INFORMATION

Item 1. Legal Proceedings

42

Item 1A. Risk Factors

42

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

42

Item 3. Defaults Upon Senior Securities

42

Item 4. Mine Safety Disclosures

42

Item 5. Other Information

42

Item 6. Exhibits

43

SIGNATURES

44

2

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CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS

Our SEC filings and public announcements may include forward-looking statements about future events. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which typically are not historical in nature. We intend for all forward-looking statements contained herein, in our press releases or on our website, and all subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf, to be covered by the safe harbor provisions for forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Such statements are subject to a number of risks, uncertainties and assumptions including, without limitation, demand for our products, which may be impacted by competitive conditions and/or evolving consumer shopping patterns; macroeconomic factors that may impact consumer spending for apparel and related products; costs of products as well as the raw materials used in those products; expected pricing levels; costs of labor; the timing of shipments requested by our wholesale customers; changes, and the impact on our business operations of such changes, in international, federal or state tax, trade and other laws and regulations, including the imposition of additional duties, tariffs, taxes or other charges or barriers to trade resulting from ongoing trade developments with China and our ability to implement mitigating sourcing strategies; weather; retention of and disciplined execution by key management; the timing and cost of store and restaurant openings and remodels as well as other capital expenditures; acquisition and disposition activities, including our ability to timely recognize expected synergies from acquisitions; expected outcomes of pending or potential litigation and regulatory actions; the impact of any restructuring initiatives we may undertake in one or more of our business lines; access to capital and/or credit markets; changes in accounting standards and related guidance; and factors that could affect our consolidated effective tax rate. Forward-looking statements reflect our expectations at the time such forward looking statements are made, based on information available at such time, and are not guarantees of performance. Although we believe that the expectations reflected in such forward-looking statements are reasonable, these expectations could prove inaccurate as such statements involve risks and uncertainties, many of which are beyond our ability to control or predict. Should one or more of these risks or uncertainties, or other risks or uncertainties not currently known to us or that we currently deem to be immaterial, materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. Important factors relating to these risks and uncertainties include, but are not limited to, those described in Part I, Item 1A. Risk Factors contained in our Annual Report on Form 10-K for Fiscal 2018, and those described from time to time in our future reports filed with the SEC. We caution that one should not place undue reliance on forward-looking statements, which speak only as of the date on which they are made. We disclaim any intention, obligation or duty to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

DEFINITIONS

As used in this report, unless the context requires otherwise, "our," "us" or "we" means Oxford Industries, Inc. and its consolidated subsidiaries; "SG&A" means selling, general and administrative expenses; "SEC" means the United States Securities and Exchange Commission; "FASB" means the Financial Accounting Standards Board; "ASC" means the FASB Accounting Standards Codification; "GAAP" means generally accepted accounting principles in the United States; and "TBBC" means The Beaufort Bonnet Company. Unless otherwise indicated, all references to assets,

3

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liabilities, revenues, expenses or other information in this report reflect continuing operations. Additionally, the terms listed below reflect the respective period noted:

Fiscal 2020

    

52 weeks ending January 30, 2021

Fiscal 2019

52 weeks ending February 1, 2020

Fiscal 2018

52 weeks ended February 2, 2019

Fiscal 2017

53 weeks ended February 3, 2018

Fourth Quarter Fiscal 2019

13 weeks ending February 1, 2020

Third Quarter Fiscal 2019

13 weeks ended November 2, 2019

Second Quarter Fiscal 2019

13 weeks ended August 3, 2019

First Quarter Fiscal 2019

13 weeks ended May 4, 2019

Fourth Quarter Fiscal 2018

13 weeks ended February 2, 2019

Third Quarter Fiscal 2018

13 weeks ended November 3, 2018

Second Quarter Fiscal 2018

13 weeks ended August 4, 2018

First Quarter Fiscal 2018

13 weeks ended May 5, 2018

First Nine Months Fiscal 2019

39 weeks ended November 2, 2019

First Nine Months Fiscal 2018

39 weeks ended November 3, 2018

4

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PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

OXFORD INDUSTRIES, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except par amounts)

(unaudited)

    

November 2,

    

February 2,

    

November 3,

2019

2019

2018

ASSETS

Current Assets

Cash and cash equivalents

$

21,568

$

8,327

$

7,413

Receivables, net

 

64,593

 

69,037

 

69,400

Inventories, net

 

154,229

 

160,656

 

138,150

Prepaid expenses and other current assets

 

28,438

 

31,768

 

36,937

Total Current Assets

$

268,828

$

269,788

$

251,900

Property and equipment, net

 

190,537

 

192,576

 

194,228

Intangible assets, net

 

175,298

 

176,176

 

176,735

Goodwill

 

66,594

 

66,621

 

66,618

Operating lease assets

287,977

Other non-current assets, net

 

23,850

 

22,093

 

23,272

Total Assets

$

1,013,084

$

727,254

$

712,753

LIABILITIES AND SHAREHOLDERS’ EQUITY

 

  

 

  

 

  

Current Liabilities

 

  

 

  

 

  

Accounts payable

$

60,708

$

81,612

$

64,429

Accrued compensation

 

21,560

 

24,226

 

25,426

Current operating lease liabilities

 

49,901

 

 

Other accrued expenses and liabilities

 

31,949

 

36,371

 

34,984

Total Current Liabilities

$

164,118

$

142,209

$

124,839

Long-term debt

 

 

12,993

 

32,211

Non-current operating lease liabilities

 

293,775

 

 

Other non-current liabilities

 

17,365

 

75,286

 

73,434

Deferred taxes

 

21,010

 

18,411

 

16,922

Commitments and contingencies

 

 

 

Shareholders’ Equity

 

 

  

 

  

Common stock, $1.00 par value per share

 

17,040

 

16,959

 

16,956

Additional paid-in capital

 

147,448

 

142,976

 

140,876

Retained earnings

 

357,768

 

323,515

 

312,604

Accumulated other comprehensive loss

 

(5,440)

 

(5,095)

 

(5,089)

Total Shareholders’ Equity

$

516,816

$

478,355

$

465,347

Total Liabilities and Shareholders’ Equity

$

1,013,084

$

727,254

$

712,753

See accompanying notes.

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OXFORD INDUSTRIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

(unaudited)

    

Third Quarter

    

First Nine Months

Fiscal 2019

Fiscal 2018

Fiscal 2019

Fiscal 2018

Net sales

$

241,221

$

233,662

$

825,194

$

808,931

Cost of goods sold

 

108,241

 

104,383

 

346,620

 

336,209

Gross profit

$

132,980

$

129,279

$

478,574

$

472,722

SG&A

 

134,231

 

128,687

 

417,448

 

414,747

Royalties and other operating income

 

3,845

 

3,113

 

11,469

 

10,616

Operating income

$

2,594

$

3,705

$

72,595

$

68,591

Interest expense, net

 

81

 

489

 

1,171

 

1,872

Earnings before income taxes

$

2,513

$

3,216

$

71,424

$

66,719

Income taxes

 

845

 

1,355

 

18,263

 

17,107

Net earnings

$

1,668

$

1,861

$

53,161

$

49,612

Net earnings per share:

 

  

 

  

 

  

 

  

Basic

$

0.10

$

0.11

$

3.17

$

2.98

Diluted

$

0.10

$

0.11

$

3.15

$

2.95

Weighted average shares outstanding:

 

  

 

  

 

  

 

  

Basic

 

16,773

 

16,694

 

16,748

 

16,672

Diluted

 

16,934

 

16,870

 

16,896

 

16,826

Dividends declared per share

$

0.37

$

0.34

$

1.11

$

1.02

See accompanying notes.

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OXFORD INDUSTRIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(in thousands)

(unaudited)

    

Third Quarter

    

First Nine Months

Fiscal 2019

Fiscal 2018

Fiscal 2019

Fiscal 2018

Net earnings

$

1,668

$

1,861

$

53,161

$

49,612

Other comprehensive income (loss), net of taxes:

 

  

 

  

 

  

 

  

Net foreign currency translation adjustment

 

176

 

(150)

 

(345)

 

(1,015)

Comprehensive income

$

1,844

$

1,711

$

52,816

$

48,597

See accompanying notes.

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OXFORD INDUSTRIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(unaudited)

First Nine Months

    

Fiscal 2019

    

Fiscal 2018

Cash Flows From Operating Activities:

 

  

 

  

 

Net earnings

$

53,161

$

49,612

Adjustments to reconcile net earnings to net cash provided by operating activities:

 

 

  

Depreciation

 

29,301

 

29,878

Amortization of intangible assets

 

878

 

2,055

Equity compensation expense

 

5,698

 

5,510

Amortization of deferred financing costs

 

298

 

318

Deferred income taxes

 

2,370

 

1,501

Changes in working capital, net of acquisitions and dispositions:

 

 

  

Receivables, net

 

4,559

 

(2,286)

Inventories, net

 

6,203

 

(14,346)

Prepaid expenses and other current assets

 

(2,348)

 

943

Current liabilities

 

(27,479)

 

(9,244)

Other balance sheet changes

 

2,565

 

677

Cash provided by operating activities

$

75,206

$

64,618

Cash Flows From Investing Activities:

 

  

 

  

Acquisitions, net of cash acquired

 

 

(354)

Purchases of property and equipment

 

(26,877)

 

(30,914)

Cash used in investing activities

$

(26,877)

$

(31,268)

Cash Flows From Financing Activities:

 

  

 

  

Repayment of revolving credit arrangements

 

(122,241)

 

(221,750)

Proceeds from revolving credit arrangements

 

109,248

 

208,152

Deferred financing costs paid

(952)

Proceeds from issuance of common stock

 

1,307

 

1,170

Repurchase of equity awards for employee tax withholding liabilities

 

(2,453)

 

(2,351)

Cash dividends declared and paid

 

(18,908)

 

(17,286)

Other financing activities

 

(1,033)

 

Cash used in financing activities

$

(35,032)

$

(32,065)

Net change in cash and cash equivalents

$

13,297

$

1,285

Effect of foreign currency translation on cash and cash equivalents

 

(56)

 

(215)

Cash and cash equivalents at the beginning of year

 

8,327

 

6,343

Cash and cash equivalents at the end of the period

$

21,568

$

7,413

Supplemental disclosure of cash flow information:

 

  

 

  

Cash paid for interest, net

$

1,162

$

1,598

Cash paid for income taxes

$

13,496

$

16,133

See accompanying notes.

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Table of Contents

OXFORD INDUSTRIES, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

THIRD QUARTER OF FISCAL 2019

1.    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. The preparation of our unaudited condensed consolidated financial statements in conformity with GAAP requires us to make certain estimates and assumptions that affect the amounts reported as assets, liabilities, revenues and expenses in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. 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 2018, except for the adoption of the new lease accounting guidance in Fiscal 2019 as discussed below and in Note 5.

Accounting Standards Adopted in Fiscal 2019

In February 2016, the FASB issued revised lease accounting guidance. The guidance requires companies to record substantially all leases, including operating leases, as assets and liabilities on the balance sheet. For these leases, we are required to recognize (1) an operating lease asset which will represent our right to use, or control the use of, a specified asset for a lease term and (2) a lease liability equal to our obligation to make lease payments arising from a lease, measured on a discounted basis. The guidance was adopted on the first day of the First Quarter of Fiscal 2019 using a modified retrospective approach. The modified retrospective approach allows us to apply the standard and related disclosures to the financial statements for the period of adoption and apply the previous guidance in the prior year comparative periods. The adoption of the new guidance had a material impact on our condensed consolidated balance sheet as a result of the non-cash recognition of operating lease assets and operating lease liabilities, but did not have a material impact on our consolidated statements of operations or cash flows. We elected the transition relief package practical expedients by applying previous accounting conclusions to all leases that existed prior to the adoption date. Therefore, we have not reassessed (1) whether existing or expired contracts contain a lease, (2) lease classification for existing or expired leases, or (3) the accounting for initial direct costs that were previously capitalized. We did not elect the practical expedient to use hindsight for leases existing at the adoption date. Refer to Note 5 for additional disclosures and information about accounting for leases.

Recently Issued Accounting Standards Applicable to Future Periods

In June 2016, the FASB issued guidance, as amended, on the measurement of credit losses on financial instruments. This guidance amends the impairment model by requiring that companies 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.

Recent accounting pronouncements pending adoption not discussed above are either not applicable or not expected to have a material impact on our consolidated financial statements.

2.    Operating Group Information:   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. Our business is primarily operated through our Tommy Bahama, Lilly Pulitzer, Lanier Apparel and Southern Tide operating groups.

9

Table of Contents

Tommy Bahama, Lilly Pulitzer and Southern Tide each design, source, market and distribute apparel and related products bearing their respective trademarks and license their trademarks for other product categories, while Lanier Apparel designs, sources and distributes branded and private label men’s tailored clothing, sportswear and other products. Corporate and Other is a reconciling category for reporting purposes and includes our corporate offices, substantially all financing activities, the elimination of inter-segment sales and any other items that are not allocated to the operating groups, including LIFO accounting adjustments. Because our LIFO inventory pool does not correspond to our operating group definitions, LIFO inventory accounting adjustments are not allocated to the operating groups. Corporate and Other also includes the operations of other businesses which are not included in our operating groups, including the operations of TBBC and our Lyons, Georgia distribution center. For a more extensive description of our operating groups, see Part I, Item 1. Business included in our Annual Report on Form 10-K for Fiscal 2018.

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

    

Third Quarter

First Nine Months

    

Fiscal 2019

    

Fiscal 2018

    

Fiscal 2019

    

Fiscal 2018

Net sales

 

  

 

  

 

  

 

  

 

Tommy Bahama

$

127,023

$

123,130

$

480,623

$

482,990

Lilly Pulitzer

 

71,659

 

68,213

 

219,809

 

208,463

Lanier Apparel

 

29,377

 

29,037

 

76,871

 

72,806

Southern Tide

 

9,102

 

9,496

 

35,704

 

34,745

Corporate and Other

 

4,060

 

3,786

 

12,187

 

9,927

Total net sales

$

241,221

$

233,662

$

825,194

$

808,931

Depreciation and amortization

 

  

 

  

 

  

 

  

Tommy Bahama

$

7,073

$

7,131

$

20,820

$

22,457

Lilly Pulitzer

 

2,554

 

2,624

 

7,618

 

7,727

Lanier Apparel

 

146

 

144

 

427

 

424

Southern Tide

 

135

 

133

 

404

 

394

Corporate and Other

 

285

 

304

 

910

 

931

Total depreciation and amortization

$

10,193

$

10,336

$

30,179

$

31,933

Operating income (loss)

 

  

 

  

 

  

 

  

Tommy Bahama

$

(7,739)

$

(5,141)

$

30,671

$

29,783

Lilly Pulitzer

 

10,988

 

9,576

 

46,689

 

43,823

Lanier Apparel

 

1,952

 

2,261

 

3,387

 

3,448

Southern Tide

 

526

 

492

 

4,877

 

4,399

Corporate and Other

 

(3,133)

 

(3,483)

 

(13,029)

 

(12,862)

Total operating income

 

2,594

 

3,705

$

72,595

$

68,591

Interest expense, net

 

81

 

489

 

1,171

 

1,872

Earnings before income taxes

$

2,513

$

3,216

$

71,424

$

66,719

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Table of Contents

The tables below quantify, for each operating group and in total, the amount of net sales (in thousands) and net sales by distribution channel as a percentage of net sales for each period presented.

Third Quarter Fiscal 2019

 

    

Net Sales

    

Retail

    

E-commerce

    

Restaurant

    

Wholesale

    

Other

 

Tommy Bahama

$

127,023

 

46

%  

14

%  

14

%  

26

%  

%

Lilly Pulitzer

 

71,659

 

35

%  

55

%  

%  

10

%  

%

Lanier Apparel

 

29,377

 

%  

1

%  

%  

99

%  

%

Southern Tide

 

9,102

 

%  

19

%  

%  

81

%  

%

Corporate and Other

 

4,060

 

%  

57

%  

%  

36

%  

7

%

Total

$

241,221

 

35

%  

26

%  

7

%  

32

%  

%

Third Quarter Fiscal 2018

 

    

Net Sales

    

Retail

    

E-commerce

    

Restaurant

    

Wholesale

    

Other

 

Tommy Bahama

$

123,130

 

46

%  

14

%  

13

%  

27

%  

%

Lilly Pulitzer

 

68,213

 

35

%  

53

%  

%  

12

%  

%

Lanier Apparel

 

29,037

 

%  

%  

%  

100

%  

%

Southern Tide

 

9,496

 

%  

16

%  

%  

84

%  

%

Corporate and Other

 

3,786

 

%  

50

%  

%  

34

%  

16

%

Total

$

233,662

 

35

%  

24

%  

7

%  

34

%  

%

First Nine Months Fiscal 2019

    

Net Sales

    

Retail

    

Ecommerce

    

Restaurant

    

Wholesale

    

Other

 

Tommy Bahama

$

480,623

 

48

%  

18

%  

13

%  

21

%  

%

Lilly Pulitzer

 

219,809

 

43

%  

36

%  

%  

21

%  

%

Lanier Apparel

 

76,871

 

%  

1

%  

%  

99

%  

%

Southern Tide

 

35,704

 

%  

18

%  

%  

82

%  

%

Corporate and Other

 

12,187

 

%  

60

%  

%  

32

%  

8

%

Total net sales

$

825,194

 

39

%  

22

%  

8

%  

31

%  

%

    

First Nine Months Fiscal 2018

    

Net Sales

    

Retail

    

Ecommerce

    

Restaurant

    

Wholesale

    

Other

 

Tommy Bahama

$

482,990

 

48

%  

17

%  

13

%  

22

%  

%

Lilly Pulitzer

 

208,463

 

44

%  

35

%  

%  

21

%  

%

Lanier Apparel

 

72,806

 

%  

%  

%  

100

%  

%

Southern Tide

 

34,745

 

%  

16

%  

%  

84

%  

%

Corporate and Other

 

9,927

 

%  

54

%  

%  

27

%  

19

%

Total net sales

$

808,931

 

40

%  

20

%  

8

%  

32

%  

%

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Table of Contents

3.    Shareholders’ Equity: The following tables detail the changes (in thousands) in our common stock, additional paid-in capital ("APIC"), retained earnings and accumulated other comprehensive (loss) income ("AOCI"), for each period presented.

First Nine Months Fiscal 2019

    

Common Stock

    

APIC

    

Retained Earnings

    

AOCI

    

Total

February 2, 2019

    

$

16,959

    

$

142,976

    

$

323,515

    

$

(5,095)

    

$

478,355

Net earnings and other comprehensive income

 

 

 

21,657

 

(388)

 

21,269

Shares issued under equity plans

 

91

 

331

 

 

 

422

Compensation expense for equity awards

 

 

1,876

 

 

 

1,876

Repurchase of shares

 

(31)

 

(2,422)

 

 

 

(2,453)

Cash dividends declared and paid

 

 

 

(6,297)

 

 

(6,297)

Cumulative effect of change in accounting standards

 

 

 

 

 

May 4, 2019

$

17,019

$

142,761

$

338,875

$

(5,483)

$

493,172

Net earnings and other comprehensive income

 

 

 

29,836

 

(133)

 

29,703

Shares issued under equity plans

 

16

 

447

 

 

 

463

Compensation expense for equity awards

 

 

1,915

 

 

 

1,915

Repurchase of shares

 

 

 

 

 

Cash dividends declared and paid

 

 

 

(6,304)

 

 

(6,304)

Cumulative effect of change in accounting standards

 

 

 

 

 

August 3, 2019

$

17,035

$

145,123

$

362,407

$

(5,616)

$

518,949

Net earnings and other comprehensive income

 

 

 

1,668

 

176

 

1,844

Shares issued under equity plans

 

5

 

418

 

 

 

423

Compensation expense for equity awards

 

 

1,907

 

 

 

1,907

Repurchase of shares

 

 

 

 

 

Cash dividends declared and paid

 

 

 

(6,307)

 

 

(6,307)

Cumulative effect of change in accounting standards

 

 

 

 

 

November 2, 2019

$

17,040

$

147,448

$

357,768

$

(5,440)

$

516,816

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Table of Contents

First Nine Months Fiscal 2018

    

Common Stock

    

APIC

    

Retained Earnings

    

AOCI

    

Total

February 3, 2018

    

$

16,839

    

$

136,664

    

$

280,395

    

$

(4,074)

    

$

429,824

Net earnings and other comprehensive income

 

 

 

20,567

 

(581)

 

19,986

Shares issued under equity plans

 

128

 

236

 

 

 

364

Compensation expense for equity awards

 

 

1,718

 

 

 

1,718

Repurchase of shares

 

(30)

 

(2,321)

 

 

 

(2,351)

Cash dividends declared and paid

 

 

 

(5,759)

 

 

(5,759)

Cumulative effect of change in accounting standards

 

 

 

(117)

 

 

(117)

May 5, 2018

$

16,937

$

136,297

$

295,086

$

(4,655)

$

443,665

Net earnings and other comprehensive income

 

 

 

27,184

 

(284)

 

26,900

Shares issued under equity plans

 

14

 

436

 

 

 

450

Compensation expense for equity awards

 

 

1,880

 

 

 

1,880

Repurchase of shares

 

 

 

 

 

Cash dividends declared and paid

 

 

 

(5,763)

 

 

(5,763)

Cumulative effect of change in accounting standards

 

 

 

 

 

August 4, 2018

$

16,951

$

138,613

$

316,507

$

(4,939)

$

467,132

Net earnings and other comprehensive income

 

 

 

1,861

 

(150)

 

1,711

Shares issued under equity plans

 

5

 

351

 

 

 

356

Compensation expense for equity awards

 

 

1,912

 

 

 

1,912

Repurchase of shares

 

 

 

 

 

Cash dividends declared and paid

 

 

 

(5,764)

 

 

(5,764)

Cumulative effect of change in accounting standards

 

 

 

 

 

November 3, 2018

$

16,956

$

140,876

$

312,604

$

(5,089)

$

465,347

Net earnings and other comprehensive income

 

 

 

16,679

 

(6)

 

16,673

Shares issued under equity plans

 

3

 

283

 

 

 

286

Compensation expense for equity awards

 

 

1,817

 

 

 

1,817

Repurchase of shares

 

 

 

 

 

Cash dividends declared and paid