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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	May 02, 2020	Jun. 05, 2020
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	May 02, 2020
Document Transition Report	false
Entity File Number	1-4365
Entity Registrant Name	OXFORD INDUSTRIES, INC.
Entity Incorporation, State or Country Code	GA
Entity Tax Identification Number	58-0831862
Entity Address, Address Line One	999 Peachtree Street, N.E.
Entity Address, Address Line Two	Suite 688
Entity Address, City or Town	Atlanta
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30309
City Area Code	404
Local Phone Number	659-2424
Title of 12(b) Security	Common Stock
Trading Symbol	OXM
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		16,717,988
Entity Central Index Key	0000075288
Current Fiscal Year End Date	--01-30
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	May 02, 2020	Feb. 01, 2020	May 04, 2019
Current Assets
Cash and cash equivalents	$ 181,775	$ 52,460	$ 5,501
Receivables, net	51,055	58,724	85,857
Inventories, net	169,495	152,229	157,221
Prepaid expenses and other current assets	21,367	25,413	24,588
Total Current Assets	423,692	288,826	273,167
Property and equipment, net	188,568	191,517	191,104
Intangible assets, net	157,015	175,005	175,883
Goodwill	23,802	66,578	66,597
Operating lease assets	274,778	287,181	294,131
Other non-current assets, net	29,615	24,262	23,543
Total Assets	1,097,470	1,033,369	1,024,425
Current Liabilities
Accounts payable	40,432	65,491	52,121
Accrued compensation	11,373	19,363	19,719
Current operating lease liabilities	66,128	50,198	53,683
Other accrued expenses and liabilities	35,194	42,727	40,778
Total Current Liabilities	153,127	177,779	166,301
Long-term debt	207,618		33,182
Non-current operating lease liabilities	271,810	291,886	295,399
Other non-current liabilities	17,101	18,566	16,707
Deferred taxes	9,119	16,540	19,664
Commitments and contingencies
Shareholders' Equity
Common stock, $1.00 par value per share	16,718	17,040	17,019
Additional paid-in capital	149,634	149,426	142,761
Retained earnings	277,595	366,793	338,875
Accumulated other comprehensive loss	(5,252)	(4,661)	(5,483)
Total Shareholders' Equity	438,695	528,598	493,172
Total Liabilities and Shareholders' Equity	$ 1,097,470	$ 1,033,369	$ 1,024,425

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	May 02, 2020	May 04, 2019
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Net sales	$ 160,343	$ 281,973
Cost of goods sold	66,269	116,204
Gross profit	94,074	165,769
SG&A	123,001	139,814
Impairment of goodwill and intangible assets	60,452
Royalties and other operating income	3,890	3,787
Operating (loss) income	(85,489)	29,742
Interest expense, net	658	671
(Loss) earnings before income taxes	(86,147)	29,071
Income tax (benefit) provision	(19,363)	7,414
Net (loss) earnings, basic	(66,784)	21,657
Net (loss) earnings, diluted	$ (66,784)	$ 21,657
Net earnings per share:
Basic (in dollars per share)	$ (4.02)	$ 1.30
Diluted (in dollars per share)	$ (4.02)	$ 1.29
Weighted average shares outstanding:
Basic (in shares)	16,612	16,713
Diluted (in shares)	16,612	16,848
Dividends declared per share (in dollars per share)	$ 0.25	$ 0.37

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	May 02, 2020	May 04, 2019	Feb. 01, 2020
Cash Flows From Operating Activities:
Net (loss) earnings	$ (66,784)	$ 21,657
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation	10,410	9,845
Amortization of intangible assets	283	292	$ 1,171
Impairment of goodwill and intangible assets	60,452
Equity compensation expense	1,682	1,876
Amortization of deferred financing costs	86	106
Deferred income taxes (benefit) expense	(7,422)	1,019
Effect of changes in operating assets and liabilities, net of acquisitions and dispositions:
Receivables, net	7,744	(17,088)
Inventories, net	(17,551)	3,208
Prepaid expenses and other current assets	4,031	1,811
Current liabilities	(24,752)	(29,170)
Other balance sheet changes	(14,028)	356
Cash used in operating activities	(45,849)	(6,088)
Cash Flows From Investing Activities:
Purchases of property and equipment	(8,591)	(8,282)
Cash used in investing activities	(8,591)	(8,282)
Cash Flows From Financing Activities:
Repayment of revolving credit arrangements	(22,767)	(77,323)
Proceeds from revolving credit arrangements	230,386	97,512
Repurchase of common stock	(18,053)
Proceeds from issuance of common stock	406	422
Repurchase of equity awards for employee tax withholding liabilities	(1,870)	(2,453)
Cash dividends declared and paid	(4,194)	(6,297)
Other financing activities		(282)
Cash provided by financing activities	183,908	11,579
Net change in cash and cash equivalents	129,468	(2,791)
Effect of foreign currency translation on cash and cash equivalents	(153)	(35)
Cash and cash equivalents at the beginning of year	52,460	8,327	8,327
Cash and cash equivalents at the end of the period	$ 181,775	$ 5,501	$ 52,460

Basis of Presentation

3 Months Ended

May 02, 2020

Basis of Presentation

Basis of Presentation

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. Results of operations for the interim periods presented are not necessarily indicative of results to be expected for our full fiscal year.

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. We assessed certain accounting matters, including the carrying value of goodwill, intangible assets and long-lived assets, provisions for credit losses, inventory markdowns and the estimated effective tax rate, that require consideration of forecasted financial information based on information reasonably available to us as well as the uncertain future impacts of the novel coronavirus (COVID-19) pandemic. These assessments resulted in the recognition of certain amounts in the First Quarter of Fiscal 2020, as discussed below. Future changes in the business environment, our expectations and assumptions as compared to the information at the time of this filing regarding the magnitude and duration of the COVID-19 pandemic, and other factors could result in additional material impacts to our consolidated financial statements in future periods.

COVID-19 Pandemic

In March 2020, the World Health Organization characterized the outbreak of COVID-19 as a pandemic. COVID-19 had a significant effect on overall economic conditions and our operations, resulting in a significant net sales reduction and a net loss in the First Quarter of Fiscal 2020. While our mission remains the enhancement of long-term shareholder value, our focus during this crisis has been, and will continue to be, the health and well-being of our employees, customers and communities as well as protecting our brands and preserving liquidity.

Due to the COVID-19 pandemic, we saw reduced consumer traffic starting in early March 2020 and temporarily closed all our retail and restaurant locations in North America on March 17, 2020. Subsequent to those closures, we also temporarily closed all our retail locations in Australia.

The COVID-19 pandemic is expected to continue to have a material adverse impact on our business, financial condition, results of operations and cash flows for the foreseeable future, including as a result of temporary closure of our retail and restaurant locations, which continued into the Second Quarter of Fiscal 2020; decreased customer traffic in stores and restaurants even as we reopen locations in accordance with federal, state and local guidelines, including due to limited operating hours and capacity and seating limitations; uncertainty as to continued strength of our brands’ e-commerce websites during the pendency of the pandemic; overall changes in consumer confidence and consumer spending habits; any potential disruptions to our supply chain; and a slowdown in the U.S. and global economies.

For many reasons, including those identified above, the full magnitude of the COVID-19 pandemic is difficult to predict at this time, and its ultimate duration and severity will depend on future developments. We believe that cash on hand and our credit facility provide adequate funds to support our operating, capital expenditure and debt service requirements for Fiscal 2020 and beyond. We could also experience other potential adverse impacts as a result of the COVID-19 pandemic including charges resulting from adjustments to the carrying amount of goodwill, intangible assets and long-lived assets, provisions for credit losses and inventory markdowns as well as potential changes to the estimated effective tax rate.

Due to the COVID-19 pandemic in the First Quarter of Fiscal 2020, net sales in each of our operating groups decreased from prior periods resulting in significantly lower operating results, including operating losses in each group other than Lilly Pulitzer. As a result of the COVID-19 impact on our operating results, as well as lower operating results projected for future periods, we concluded that a goodwill impairment test triggering event had occurred for the goodwill associated with our Lilly Pulitzer, Southern Tide and TBBC reporting units. Further, we determined that an intangible asset impairment test triggering event had occurred for our indefinite-lived trademarks for Tommy Bahama, Lilly Pulitzer and Southern Tide. These goodwill and indefinite-lived intangible asset triggering events required the need for a quantitative interim impairment assessment over these reporting units and indefinite-lived intangible assets, in accordance with our accounting policies as described in Note 1 to our consolidated financial statements included in our Annual Report on Form 10-K for Fiscal 2019. These assessments concluded that the fair values of the Southern Tide goodwill and indefinite-lived intangible assets as of May 2, 2020 did not exceed their respective carrying values, resulting in impairment charges as discussed in Note 4. These impairment charges, which totaled $60 million, were recorded in impairment of goodwill and intangible assets in our consolidated statements of operations. Additionally, due to the lower operating results and lower projected operating results, we performed recoverability tests for certain other non-current assets, including property and equipment, finite-lived intangible assets and operating lease assets, and determined that the amounts included in the asset group are recoverable, except for a $0.2 million charge related to a finite-lived intangible asset in Lanier Apparel.

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 2019, except for the adoption of the credit losses and income tax guidance discussed below.

Accounting Standards Adopted in Fiscal 2020

In June 2016, the FASB issued guidance, as amended, on the measurement of credit losses on financial instruments. This guidance amends the previous incurred loss model by requiring that companies use a forward-looking current expected loss approach to estimate credit losses on certain financial instruments, including trade and other receivables, as well as other financial assets and instruments. We estimate current expected credit losses based on our historical collection experience, the financial condition of our customers, an evaluation of current economic conditions and anticipated trends. We adopted the guidance on the first day of Fiscal 2020 resulting in a charge to retained earnings of $0.5 million and a reduction to various asset amounts included in our consolidated balance sheet at adoption.

In December 2019, the FASB amended its guidance on accounting for income taxes. This guidance amends and simplifies the accounting for income taxes by removing certain exceptions in existing guidance to reduce complexity in certain areas. On the first day of Fiscal 2020, we adopted the provisions related to classification of franchise taxes partially based on income and changes in ownership of foreign equity method investments or foreign subsidiaries on a modified retrospective basis while the other provisions were adopted on a prospective basis. The adoption of the new guidance did not have an impact on our consolidated financial statements at adoption.

Other recently issued guidance that was adopted in Fiscal 2020 did not have a material impact on our consolidated financial statements upon adoption.

Recently Issued Accounting Standards Applicable to Future Periods

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

Operating Group Information

3 Months Ended

May 02, 2020

Operating Groups

Operating Groups

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.

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 inventory 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, Duck Head and our Lyons, Georgia distribution center. In the First Quarter of Fiscal 2020, as a result of certain organizational and management reporting changes, our Duck Head operations, which were previously included in Lanier Apparel, are considered part of and included in Corporate and Other. Prior period amounts for Lanier Apparel and Corporate and Other were restated to conform to the presentation in the current period.

The table below presents certain financial information (in thousands) about our operating groups, as well as Corporate and Other. 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 2019.


	First Quarter
	Fiscal 2020		Fiscal 2019
Net sales
Tommy Bahama	$	86,984	$	164,730
Lilly Pulitzer		49,149		72,595
Lanier Apparel		10,725		26,154
Southern Tide		8,301		14,134
Corporate and Other		5,184		4,360
Consolidated net sales	$	160,343	$	281,973

Depreciation and amortization
Tommy Bahama	$	7,800	$	6,840
Lilly Pulitzer		2,316		2,683
Lanier Apparel		102		140
Southern Tide		144		134
Corporate and Other		331		340
Consolidated depreciation and amortization	$	10,693	$	10,137

Operating income (loss)
Tommy Bahama	$	(23,362)	$	15,192
Lilly Pulitzer		4,146		15,252
Lanier Apparel		(2,637)		1,367
Southern Tide		(63,366)		2,517
Corporate and Other		(270)		(4,586)
Consolidated operating (loss) income	$	(85,489)	$	29,742
Interest expense, net		658		671
(Loss) earnings before income taxes	$	(86,147)	$	29,071


	May 2, 2020		February 1, 2020		May 4, 2019
Assets
Tommy Bahama ⁽¹⁾	$	650,057	$	668,197	$	677,402
Lilly Pulitzer ⁽²⁾		202,983		199,913		216,635
Lanier Apparel⁽³⁾		39,283		43,533		49,232
Southern Tide ⁽⁴⁾		37,513		99,667		99,740
Corporate and Other⁽⁵⁾		167,634		22,059		(18,584)
Consolidated Total Assets	$	1,097,470	$	1,033,369	$	1,024,425

(1)

Decrease in total assets from February 1, 2020 and May 4, 2019 was primarily due to lower operating lease assets and receivables partially offset by increased inventories.

(2)

Increase in total assets from February 1, 2020 was primarily due to increased inventories partially offset by decreases in various other asset categories. Decrease in total assets from May 4, 2019 was primarily due to lower receivables, operating lease assets and fixed assets partially offset by increased inventories.

(3)

Decrease in total assets from February 1, 2020 and May 4, 2019 was primarily due to lower receivables and inventories.

(4)

Decrease in total assets from February 1, 2020 and May 4, 2019 was primarily due to the $60 million impairment charge for goodwill and intangible assets.

(5)

Increase in total assets from February 1, 2020 and May 4, 2019 was primarily due to increased cash and cash equivalents as well as increased non-current income tax receivables.

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.


	First Quarter Fiscal 2020
	Net Sales		Retail		E-commerce		Restaurant		Wholesale		Other
Tommy Bahama	$	86,984	39	%	28	%	13	%	20	%	—	%
Lilly Pulitzer		49,149	24	%	50	%	—	%	26	%	—	%
Lanier Apparel		10,725	—	%	—	%	—	%	100	%	—	%
Southern Tide		8,301	—	%	21	%	—	%	79	%	—	%
Corporate and Other		5,184	—	%	63	%	—	%	32	%	5	%
Total	$	160,343	28	%	34	%	7	%	31	%	—	%


	First Quarter Fiscal 2019
	Net Sales		Retail		E-commerce		Restaurant		Wholesale		Other
Tommy Bahama	$	164,730	47	%	15	%	14	%	24	%	—	%
Lilly Pulitzer		72,595	42	%	25	%	—	%	33	%	—	%
Lanier Apparel		26,154	—	%	—	%	—	%	100	%	—	%
Southern Tide		14,134	—	%	13	%	—	%	87	%	—	%
Corporate and Other		4,360	—	%	60	%	—	%	32	%	8	%
Total	$	281,973	38	%	17	%	9	%	36	%	—	%

Revenue Recognition and Receivables

3 Months Ended

May 02, 2020

Revenue Recognition and Receivables

Revenue Recognition and Receivables

3. Revenue Recognition and Receivables: Our revenue consists of direct to consumer sales, including our retail store, e-commerce and restaurant operations, and wholesale sales, as well as royalty income, which is included in royalties and other income in our consolidated statements of operations. We recognize revenue when performance obligations under the terms of the contracts with our customers are satisfied. Our accounting policies related to revenue

recognition for each type of contract with customers, including a description of the related performance obligations, return rights, allowances, discounts, credit terms and other information, is described in the significant accounting policies described in our Annual Report on Form 10-K for Fiscal 2019.

The table below quantifies the amount of net sales by distribution channel (in thousands) for each period presented.


	First Quarter
	Fiscal 2020		Fiscal 2019
Retail	$	45,503	$	108,006
E-commerce		53,694		47,989
Restaurant		11,763		23,601
Wholesale		49,058		101,926
Other		325		451
Net sales	$	160,343	$	281,973

In the ordinary course of our wholesale operations, we offer discounts, allowances and cooperative advertising support to some of our wholesale customers for certain products. We record these discounts, returns and allowances as a reduction to net sales in our consolidated statements of operations and as a reduction to receivables, net in our consolidated balance sheets. As of May 2, 2020, February 1, 2020 and May 4, 2019, reserve balances recorded as a reduction to receivables related to these items were $9 million, $9 million and $8 million, respectively.

We extend credit to certain wholesale customers based on an evaluation of the customer’s financial capacity and condition, usually without requiring collateral. In circumstances where we become aware of a specific wholesale customer’s inability to meet its financial obligations, a specific provision for credit losses is taken as a reduction to accounts receivable to reduce the net recognized receivable to the amount reasonably expected to be collected. Such amounts are ultimately written off at the time that the amounts are not considered collectible. For all other wholesale customer receivable amounts, we recognize estimated provisions for credit losses based on our historical collection experience, the financial condition of our customers, an evaluation of current economic conditions, anticipated trends and considering the risk characteristics of the receivables, each of which is subjective and requires certain assumptions. As discussed in Note 1 above, during Fiscal 2020, we estimated these losses using the current expected loss approach including consideration of the expected impact of the ongoing COVID-19 pandemic on our receivables, while in Fiscal 2019, we estimated these losses using the incurred loss model under the previous guidance. We include such charges and write-offs in SG&A in our consolidated statements of operations and as a reduction to receivables, net in our consolidated balance sheets. As of May 2, 2020, February 1, 2020 and May 4, 2019, our provision for credit losses related to receivables was $3 million, $1 million and $1 million, respectively. Provisions for credit losses expense for the First Quarter of Fiscal 2020 and the First Quarter of Fiscal 2019 was $2 million and $0 million, respectively.

Substantially all amounts recognized in receivables, net represent receivables related to contracts with customers. In addition to trade and other receivables, income tax receivables of $1 million, $1 million and $1 million and tenant allowances due from landlord of $2 million, $1 million and $1 million are included in receivables, net in our consolidated balance sheet as of May 2, 2020, February 1, 2020 and May 4, 2019, respectively. As of May 2, 2020, February 1, 2020 and May 4, 2019, prepaid expenses and other current assets included $4 million, $3 million and $3 million, respectively, representing the estimated value of inventory for wholesale and direct to consumer sales returns. We did not have any significant contract assets related to contracts with customers, other than receivables and the value of inventory associated with reserves for expected sales returns, as of May 2, 2020, February 1, 2020 and May 4, 2019.

An estimated sales return liability of $5 million, $3 million and $5 million for expected direct to consumer returns is classified in other accrued expenses and liabilities in our consolidated balance sheet as of May 2, 2020, February 1, 2020 and May 4, 2019, respectively. Contract liabilities for gift cards purchased by consumers and merchandise credits received by customers but not yet redeemed, less any breakage income recognized to date, is included in other accrued expenses and liabilities in our consolidated balance sheets and totaled $12 million, $12 million and $12 million as of May 2, 2020, February 1, 2020, and May 4, 2019, respectively.

Intangible Assets and Goodwill

3 Months Ended

May 02, 2020

Intangible Assets and Goodwill

Intangible Assets and Goodwill

4. Intangible Assets and Goodwill: As discussed in Note 1, the COVID-19 pandemic has had, and is expected to continue to have, a significant negative impact on each of our operating groups. Thus, certain goodwill and indefinite-lived intangible asset impairment testing was required in the First Quarter of Fiscal 2020 and resulted in significant impairment charges in Southern Tide as shown in the tables below.

Intangible assets by category are summarized below (in thousands):


	May 2,		February 1,		May 4,
	2020		2020		2019
Intangible assets with finite lives	$	51,929	$	51,929	$	51,929
Accumulated amortization and impairment		(42,414)		(41,924)		(41,046)
Total intangible assets with finite lives, net		9,515		10,005		10,883

Intangible assets with indefinite lives:
Tommy Bahama Trademarks	$	110,700	$	110,700	$	110,700
Lilly Pulitzer Trademarks		27,500		27,500		27,500
Southern Tide Trademarks		9,300		26,800		26,800
Total intangible assets, net	$	157,015	$	175,005	$	175,883

Intangible assets by operating group and in total, for Fiscal 2019 and the First Quarter of Fiscal 2020 are as follows (in thousands):


	Tommy		Lilly		Lanier		Southern		Corporate
	Bahama		Pulitzer		Apparel		Tide		and Other		Total
Balance February 2, 2019	$	110,700	$	29,216	$	246	$	29,401	$	6,613	$	176,176
Impairment		—		—		—		—		—		—
Amortization		—		(475)		(31)		(291)		(374)		(1,171)
Balance, February 1, 2020		110,700		28,741		215		29,110		6,239		175,005
Impairment		—		—		(207)		(17,500)		—		(17,707)
Amortization		—		(106)		(8)		(72)		(97)		(283)
Balance, May 2, 2020	$	110,700	$	28,635	$	—	$	11,538	$	6,142	$	157,015

Goodwill, by operating group and in total, for Fiscal 2019 and the First Quarter of Fiscal 2020 are as follows (in thousands):


	Tommy		Lilly		Southern		Corporate
	Bahama		Pulitzer		Tide		and Other		Total
Balance February 2, 2019	$	754	$	19,522	$	42,745	$	3,600	$	66,621
Impairment		—		—		—		—		—
Other, including foreign currency		(43)		—		—		—		(43)
Balance, February 1, 2020		711		19,522		42,745		3,600		66,578
Impairment		—		—		(42,745)		—		(42,745)
Other, including foreign currency		(31)		—		—		—		(31)
Balance, May 2, 2020	$	680	$	19,522	$	—	$	3,600	$	23,802

Leases

3 Months Ended

May 02, 2020

Leases

Leases

6. Leases: In the ordinary course of business, we enter into real estate lease agreements for retail, food and beverage, office and warehouse/distribution space, as well as leases for certain equipment. Our leases have varying terms and expirations and may have provisions to extend, renew or terminate the lease agreement at our discretion, among other terms and conditions. Our real estate lease terms are typically for a period of ten years or less and typically require rent payments with specified rent escalations periodically during the lease term. Our real estate leases usually provide for payments of our pro rata share of real estate taxes, insurance and other operating expenses applicable to the property, and certain of our leases require payment of sales taxes on rental payments. Also, our retail and restaurant leases often provide for contingent rent based on sales if certain sales thresholds are achieved. For many of our lease agreements, we obtain lease incentives from the landlord for tenant improvement or other allowances. Our lease agreements do not include any material residual value guarantees or material restrictive financial covenants.

Substantially all of our leases are classified as long-term operating leases. Operating lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. The significant judgments in calculating the present value of lease obligations include determining the lease term and lease payment amounts, which are dependent upon our assessment of the likelihood of exercising any renewal or termination options that are at our discretion, as well as the discount rate applied to the unpaid lease payments. The operating lease asset at commencement reflects the operating lease liability reduced for any lease incentives, including tenant improvement allowances. Lease expense for operating leases is generally recognized on a straight-line basis over the lease term. Variable rental payments for real estate taxes, sales taxes, insurance, other operating expenses and contingent rent based on a percentage of net sales or adjusted periodically for inflation are not included in lease expense used to calculate the present value of lease obligations recognized in our consolidated balance sheet, but instead are recognized as incurred.

We account for the underlying operating lease asset at the individual lease level. Typically, we do not include any renewal or termination options at our discretion in the underlying lease term at the time of lease commencement as the probability of exercise is not reasonably certain. The lease guidance requires us to discount unpaid lease payments using the interest rate implicit in the lease or, if that rate cannot be readily determined, our estimated incremental borrowing rate. As our leases do not provide an implicit rate, we use an estimated incremental borrowing rate based on information available at commencement date. Our estimated incremental borrowing rate for a lease is the rate of interest we would have to pay on a collateralized basis over the lease term to borrow an amount equal to the lease payments.

During the First Quarter of Fiscal 2020, the FASB provided for an optional practical expedient that simplifies how a lessee accounts for rent concessions that are a direct consequence of the COVID-19 pandemic. The practical expedient will only apply when a lease is modified to allow for a rental concession and (1) the revised consideration

is substantially the same as or less than, the original consideration, (2) the reduction in lease payments relates to payments due on or before June 30, 2021, and (3) no other substantive changes have been made to the terms of the leases. The practical expedient provides that the lessee is not required to assess whether the eligible rent concessions are lease modifications if the above conditions are met for the lease agreement. We have elected to apply the practical expedient for all eligible lease concessions resulting in the rent concession being recorded as an adjustment to variable lease payments and recognized in our statement of operations in that period. The amounts of concessions recognized pursuant to this practical expedient in the First Quarter of Fiscal 2020 were not material.

Substantially all lease expense is included in SG&A in our consolidated statements of operations. For the First Quarter of Fiscal 2020, operating lease expense, which includes amounts used in determining the operating lease liability and operating lease asset, was $16 million and variable lease expense was $8 million, resulting in total lease expense of $25 million. As of May 2, 2020, the weighted-average remaining operating lease term was 6.5 years and the weighted-average discount rate for operating leases was 4.5%. Cash paid for lease amounts included in the measurement of operating lease liabilities in the First Quarter of Fiscal 2020 was $8 million, reflecting that certain amounts related to April and May were not paid during the First Quarter of Fiscal 2020.

As of May 2, 2020, the required lease liability payments for the fiscal years specified below were as follows (in thousands):


	Operating lease
Remainder of 2020	$	56,795
2021		67,214
2022		63,377
2023		59,126
2024		45,783
2025		31,355
After 2025		64,827
Total lease payments	$	388,477
Less: Difference between discounted and undiscounted lease payments		50,539
Present value of lease liabilities	$	337,938

Shareholders' Equity

3 Months Ended

May 02, 2020

Shareholders' Equity

Shareholders' Equity

7. 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.


	Fiscal 2019
	Common Stock		APIC		Retained Earnings		AOCI		Total
February 2, 2019	$	16,959	$	142,976	$	323,515	$	(5,095)	$	478,355
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
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
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
Comprehensive income		—		—		15,332		779		16,111
Shares issued under equity plans		4		327		—		—		331
Compensation expense for equity awards		—		1,922		—		—		1,922
Repurchase of shares		(4)		(271)		—		—		(275)
Cash dividends declared and paid		—		—		(6,307)		—		(6,307)
Cumulative effect of change in accounting standards		—		—		—		—		—
February 1, 2020	$	17,040	$	149,426	$	366,793	$	(4,661)	$	528,598


	First Quarter Fiscal 2020
	Common Stock		APIC		Retained Earnings		AOCI		Total
February 1, 2020	$	17,040	$	149,426	$	366,793	$	(4,661)	$	528,598
Comprehensive loss		—		—		(66,784)		(591)		(67,375)
Shares issued under equity plans		56		350		—		—		406
Compensation expense for equity awards		—		1,682		—		—		1,682
Repurchase of shares		(378)		(1,824)		(17,721)		—		(19,923)
Cash dividends declared and paid		—		—		(4,194)		—		(4,194)
Cumulative effect of change in accounting standards		—		—		(499)		—		(499)
May 2, 2020	$	16,718	$	149,634	$	277,595	$	(5,252)	$	438,695

During February and March 2020, we repurchased 0.3 million shares of our common stock under an open market stock repurchase program (Rule 10b5-1 plan) pursuant to an existing share repurchase authorization of our Board of Directors. In April 2020, we repurchased 0.1 million shares of our common stock pursuant to our stock incentive plans. Our stock incentive plans are described in Note 8 to our consolidated financial statements included in our Annual Report on Form 10-K for Fiscal 2019. For the First Quarter of Fiscal 2020, there were 0.2 million shares of restricted stock outstanding that were excluded from the diluted earnings per share calculation because we incurred a net loss for the period and their inclusion would be anti-dilutive.

Basis of Presentation (Policies)	3 Months Ended
Basis of Presentation (Policies)	May 02, 2020
Basis of Presentation
Basis of Presentation	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. Results of operations for the interim periods presented are not necessarily indicative of results to be expected for our full fiscal year. 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. We assessed certain accounting matters, including the carrying value of goodwill, intangible assets and long-lived assets, provisions for credit losses, inventory markdowns and the estimated effective tax rate, that require consideration of forecasted financial information based on information reasonably available to us as well as the uncertain future impacts of the novel coronavirus (COVID-19) pandemic. These assessments resulted in the recognition of certain amounts in the First Quarter of Fiscal 2020, as discussed below. Future changes in the business environment, our expectations and assumptions as compared to the information at the time of this filing regarding the magnitude and duration of the COVID-19 pandemic, and other factors could result in additional material impacts to our consolidated financial statements in future periods. COVID-19 Pandemic In March 2020, the World Health Organization characterized the outbreak of COVID-19 as a pandemic. COVID-19 had a significant effect on overall economic conditions and our operations, resulting in a significant net sales reduction and a net loss in the First Quarter of Fiscal 2020. While our mission remains the enhancement of long-term shareholder value, our focus during this crisis has been, and will continue to be, the health and well-being of our employees, customers and communities as well as protecting our brands and preserving liquidity. Due to the COVID-19 pandemic, we saw reduced consumer traffic starting in early March 2020 and temporarily closed all our retail and restaurant locations in North America on March 17, 2020. Subsequent to those closures, we also temporarily closed all our retail locations in Australia. The COVID-19 pandemic is expected to continue to have a material adverse impact on our business, financial condition, results of operations and cash flows for the foreseeable future, including as a result of temporary closure of our retail and restaurant locations, which continued into the Second Quarter of Fiscal 2020; decreased customer traffic in stores and restaurants even as we reopen locations in accordance with federal, state and local guidelines, including due to limited operating hours and capacity and seating limitations; uncertainty as to continued strength of our brands’ e-commerce websites during the pendency of the pandemic; overall changes in consumer confidence and consumer spending habits; any potential disruptions to our supply chain; and a slowdown in the U.S. and global economies. For many reasons, including those identified above, the full magnitude of the COVID-19 pandemic is difficult to predict at this time, and its ultimate duration and severity will depend on future developments. We believe that cash on hand and our credit facility provide adequate funds to support our operating, capital expenditure and debt service requirements for Fiscal 2020 and beyond. We could also experience other potential adverse impacts as a result of the COVID-19 pandemic including charges resulting from adjustments to the carrying amount of goodwill, intangible assets and long-lived assets, provisions for credit losses and inventory markdowns as well as potential changes to the estimated effective tax rate. Due to the COVID-19 pandemic in the First Quarter of Fiscal 2020, net sales in each of our operating groups decreased from prior periods resulting in significantly lower operating results, including operating losses in each group other than Lilly Pulitzer. As a result of the COVID-19 impact on our operating results, as well as lower operating results projected for future periods, we concluded that a goodwill impairment test triggering event had occurred for the goodwill associated with our Lilly Pulitzer, Southern Tide and TBBC reporting units. Further, we determined that an intangible asset impairment test triggering event had occurred for our indefinite-lived trademarks for Tommy Bahama, Lilly Pulitzer and Southern Tide. These goodwill and indefinite-lived intangible asset triggering events required the need for a quantitative interim impairment assessment over these reporting units and indefinite-lived intangible assets, in accordance with our accounting policies as described in Note 1 to our consolidated financial statements included in our Annual Report on Form 10-K for Fiscal 2019. These assessments concluded that the fair values of the Southern Tide goodwill and indefinite-lived intangible assets as of May 2, 2020 did not exceed their respective carrying values, resulting in impairment charges as discussed in Note 4. These impairment charges, which totaled $60 million, were recorded in impairment of goodwill and intangible assets in our consolidated statements of operations. Additionally, due to the lower operating results and lower projected operating results, we performed recoverability tests for certain other non-current assets, including property and equipment, finite-lived intangible assets and operating lease assets, and determined that the amounts included in the asset group are recoverable, except for a $0.2 million charge related to a finite-lived intangible asset in Lanier Apparel. 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 2019, except for the adoption of the credit losses and income tax guidance discussed below.
Accounting Standards Adopted in Fiscal 2020 and Recently Issued Accounting Standards Applicable to Future Years	Accounting Standards Adopted in Fiscal 2020 In June 2016, the FASB issued guidance, as amended, on the measurement of credit losses on financial instruments. This guidance amends the previous incurred loss model by requiring that companies use a forward-looking current expected loss approach to estimate credit losses on certain financial instruments, including trade and other receivables, as well as other financial assets and instruments. We estimate current expected credit losses based on our historical collection experience, the financial condition of our customers, an evaluation of current economic conditions and anticipated trends. We adopted the guidance on the first day of Fiscal 2020 resulting in a charge to retained earnings of $0.5 million and a reduction to various asset amounts included in our consolidated balance sheet at adoption. In December 2019, the FASB amended its guidance on accounting for income taxes. This guidance amends and simplifies the accounting for income taxes by removing certain exceptions in existing guidance to reduce complexity in certain areas. On the first day of Fiscal 2020, we adopted the provisions related to classification of franchise taxes partially based on income and changes in ownership of foreign equity method investments or foreign subsidiaries on a modified retrospective basis while the other provisions were adopted on a prospective basis. The adoption of the new guidance did not have an impact on our consolidated financial statements at adoption. Other recently issued guidance that was adopted in Fiscal 2020 did not have a material impact on our consolidated financial statements upon adoption. Recently Issued Accounting Standards Applicable to Future Periods Recent accounting pronouncements pending adoption are either not applicable or not expected to have a material impact on our consolidated financial statements.

Operating Group Information (Tables)

3 Months Ended

May 02, 2020

Operating Groups

Schedule of financial information by operating group


	First Quarter
	Fiscal 2020		Fiscal 2019
Net sales
Tommy Bahama	$	86,984	$	164,730
Lilly Pulitzer		49,149		72,595
Lanier Apparel		10,725		26,154
Southern Tide		8,301		14,134
Corporate and Other		5,184		4,360
Consolidated net sales	$	160,343	$	281,973

Depreciation and amortization
Tommy Bahama	$	7,800	$	6,840
Lilly Pulitzer		2,316		2,683
Lanier Apparel		102		140
Southern Tide		144		134
Corporate and Other		331		340
Consolidated depreciation and amortization	$	10,693	$	10,137

Operating income (loss)
Tommy Bahama	$	(23,362)	$	15,192
Lilly Pulitzer		4,146		15,252
Lanier Apparel		(2,637)		1,367
Southern Tide		(63,366)		2,517
Corporate and Other		(270)		(4,586)
Consolidated operating (loss) income	$	(85,489)	$	29,742
Interest expense, net		658		671
(Loss) earnings before income taxes	$	(86,147)	$	29,071


	May 2, 2020		February 1, 2020		May 4, 2019
Assets
Tommy Bahama ⁽¹⁾	$	650,057	$	668,197	$	677,402
Lilly Pulitzer ⁽²⁾		202,983		199,913		216,635
Lanier Apparel⁽³⁾		39,283		43,533		49,232
Southern Tide ⁽⁴⁾		37,513		99,667		99,740
Corporate and Other⁽⁵⁾		167,634		22,059		(18,584)
Consolidated Total Assets	$	1,097,470	$	1,033,369	$	1,024,425

(1)

Decrease in total assets from February 1, 2020 and May 4, 2019 was primarily due to lower operating lease assets and receivables partially offset by increased inventories.

(2)

(3)

Decrease in total assets from February 1, 2020 and May 4, 2019 was primarily due to lower receivables and inventories.

(4)

Decrease in total assets from February 1, 2020 and May 4, 2019 was primarily due to the $60 million impairment charge for goodwill and intangible assets.

(5)

Increase in total assets from February 1, 2020 and May 4, 2019 was primarily due to increased cash and cash equivalents as well as increased non-current income tax receivables.

Schedule of net sales by operating group

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.


	First Quarter Fiscal 2020
	Net Sales		Retail		E-commerce		Restaurant		Wholesale		Other
Tommy Bahama	$	86,984	39	%	28	%	13	%	20	%	—	%
Lilly Pulitzer		49,149	24	%	50	%	—	%	26	%	—	%
Lanier Apparel		10,725	—	%	—	%	—	%	100	%	—	%
Southern Tide		8,301	—	%	21	%	—	%	79	%	—	%
Corporate and Other		5,184	—	%	63	%	—	%	32	%	5	%
Total	$	160,343	28	%	34	%	7	%	31	%	—	%


	First Quarter Fiscal 2019
	Net Sales		Retail		E-commerce		Restaurant		Wholesale		Other
Tommy Bahama	$	164,730	47	%	15	%	14	%	24	%	—	%
Lilly Pulitzer		72,595	42	%	25	%	—	%	33	%	—	%
Lanier Apparel		26,154	—	%	—	%	—	%	100	%	—	%
Southern Tide		14,134	—	%	13	%	—	%	87	%	—	%
Corporate and Other		4,360	—	%	60	%	—	%	32	%	8	%
Total	$	281,973	38	%	17	%	9	%	36	%	—	%

Intangible Assets and Goodwill (Tables)

3 Months Ended

May 02, 2020

Intangible Assets and Goodwill

Summary of finite-lived intangible assets by category

Intangible assets by category are summarized below (in thousands):


	May 2,		February 1,		May 4,
	2020		2020		2019
Intangible assets with finite lives	$	51,929	$	51,929	$	51,929
Accumulated amortization and impairment		(42,414)		(41,924)		(41,046)
Total intangible assets with finite lives, net		9,515		10,005		10,883

Intangible assets with indefinite lives:
Tommy Bahama Trademarks	$	110,700	$	110,700	$	110,700
Lilly Pulitzer Trademarks		27,500		27,500		27,500
Southern Tide Trademarks		9,300		26,800		26,800
Total intangible assets, net	$	157,015	$	175,005	$	175,883

Schedule of intangible assets by operating group and in total


	Tommy		Lilly		Lanier		Southern		Corporate
	Bahama		Pulitzer		Apparel		Tide		and Other		Total
Balance February 2, 2019	$	110,700	$	29,216	$	246	$	29,401	$	6,613	$	176,176
Impairment		—		—		—		—		—		—
Amortization		—		(475)		(31)		(291)		(374)		(1,171)
Balance, February 1, 2020		110,700		28,741		215		29,110		6,239		175,005
Impairment		—		—		(207)		(17,500)		—		(17,707)
Amortization		—		(106)		(8)		(72)		(97)		(283)
Balance, May 2, 2020	$	110,700	$	28,635	$	—	$	11,538	$	6,142	$	157,015

Schedule of goodwill by operating group and in total


	Tommy		Lilly		Southern		Corporate
	Bahama		Pulitzer		Tide		and Other		Total
Balance February 2, 2019	$	754	$	19,522	$	42,745	$	3,600	$	66,621
Impairment		—		—		—		—		—
Other, including foreign currency		(43)		—		—		—		(43)
Balance, February 1, 2020		711		19,522		42,745		3,600		66,578
Impairment		—		—		(42,745)		—		(42,745)
Other, including foreign currency		(31)		—		—		—		(31)
Balance, May 2, 2020	$	680	$	19,522	$	—	$	3,600	$	23,802

Shareholders' Equity (Tables)

3 Months Ended

May 02, 2020

Shareholders' Equity

Schedule of stockholders 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.


	Fiscal 2019
	Common Stock		APIC		Retained Earnings		AOCI		Total
February 2, 2019	$	16,959	$	142,976	$	323,515	$	(5,095)	$	478,355
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
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
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
Comprehensive income		—		—		15,332		779		16,111
Shares issued under equity plans		4		327		—		—		331
Compensation expense for equity awards		—		1,922		—		—		1,922
Repurchase of shares		(4)		(271)		—		—		(275)
Cash dividends declared and paid		—		—		(6,307)		—		(6,307)
Cumulative effect of change in accounting standards		—		—		—		—		—
February 1, 2020	$	17,040	$	149,426	$	366,793	$	(4,661)	$	528,598


	First Quarter Fiscal 2020
	Common Stock		APIC		Retained Earnings		AOCI		Total
February 1, 2020	$	17,040	$	149,426	$	366,793	$	(4,661)	$	528,598
Comprehensive loss		—		—		(66,784)		(591)		(67,375)
Shares issued under equity plans		56		350		—		—		406
Compensation expense for equity awards		—		1,682		—		—		1,682
Repurchase of shares		(378)		(1,824)		(17,721)		—		(19,923)
Cash dividends declared and paid		—		—		(4,194)		—		(4,194)
Cumulative effect of change in accounting standards		—		—		(499)		—		(499)
May 2, 2020	$	16,718	$	149,634	$	277,595	$	(5,252)	$	438,695

Operating Group Information - Financial information (Details) - USD ($) $ in Thousands	3 Months Ended
	May 02, 2020	May 04, 2019	Feb. 01, 2020
Operating groups
Net sales	$ 160,343	$ 281,973
Depreciation and amortization	10,693	10,137
Operating income (loss)	(85,489)	29,742
Interest expense, net	658	671
(Loss) earnings before income taxes	(86,147)	29,071
Total Assets	1,097,470	1,024,425	$ 1,033,369
Impairment of goodwill and intangible assets	60,452
Corporate and Other
Operating groups
Net sales	5,184	4,360
Depreciation and amortization	331	340
Operating income (loss)	(270)	(4,586)
Total Assets	167,634	(18,584)	22,059
Tommy Bahama \| Operating Segments
Operating groups
Net sales	86,984	164,730
Depreciation and amortization	7,800	6,840
Operating income (loss)	(23,362)	15,192
Total Assets	650,057	677,402	668,197
Lilly Pulitzer \| Operating Segments
Operating groups
Net sales	49,149	72,595
Depreciation and amortization	2,316	2,683
Operating income (loss)	4,146	15,252
Total Assets	202,983	216,635	199,913
Lanier Apparel \| Operating Segments
Operating groups
Net sales	10,725	26,154
Depreciation and amortization	102	140
Operating income (loss)	(2,637)	1,367
Total Assets	39,283	49,232	43,533
Southern Tide \| Operating Segments
Operating groups
Net sales	8,301	14,134
Depreciation and amortization	144	134
Operating income (loss)	(63,366)	2,517
Total Assets	$ 37,513	$ 99,740	$ 99,667

Revenue Recognition and Receivables - Bad debt reserve and receivables (Details) - USD ($) $ in Millions	3 Months Ended
	May 02, 2020	May 04, 2019	Feb. 01, 2020
Revenue
Receivable reserve amount	$ 9	$ 8	$ 9
Bad debt reserve	3	1	1
Bad debt expense	2	0
Income tax receivables	1	1	1
Tenant allowance due from landlord	2	1	1
Value of inventory for wholesale and direct to consumer sales returns	4	3	3
Contract liabilities	12	12	12
Direct to consumer
Revenue
Sales return liability	$ 5	$ 5	$ 3

Shareholders' Equity - Schedule of changes (Details) - USD ($) $ in Thousands, shares in Millions	1 Months Ended	2 Months Ended	3 Months Ended
	Apr. 30, 2020	Mar. 31, 2020	May 02, 2020	Feb. 01, 2020	Nov. 02, 2019	Aug. 03, 2019	May 04, 2019
Shareholders' Equity
Beginning Balance		$ 528,598	$ 528,598	$ 516,816	$ 518,949	$ 493,172	$ 478,355
Comprehensive income			(67,375)	16,111	1,844	29,703	21,269
Shares issued under equity plans			406	331	423	463	422
Compensation expense for equity awards			1,682	1,922	1,907	1,915	1,876
Repurchase of shares			(19,923)	(275)			(2,453)
Cash dividends declared and paid			(4,194)	(6,307)	(6,307)	(6,304)	(6,297)
Cumulative effect of change in accounting standards			(499)
Ending Balance			$ 438,695	528,598	516,816	518,949	493,172
Repurchase of shares (in shares)	0.1	0.3
Anti-dilutive securities			0.2
Common Stock
Shareholders' Equity
Beginning Balance		$ 17,040	$ 17,040	17,040	17,035	17,019	16,959
Shares issued under equity plans			56	4	5	16	91
Repurchase of shares			(378)	(4)			(31)
Ending Balance			16,718	17,040	17,040	17,035	17,019
Additional Paid-In Capital
Shareholders' Equity
Beginning Balance		149,426	149,426	147,448	145,123	142,761	142,976
Shares issued under equity plans			350	327	418	447	331
Compensation expense for equity awards			1,682	1,922	1,907	1,915	1,876
Repurchase of shares			(1,824)	(271)			(2,422)
Ending Balance			149,634	149,426	147,448	145,123	142,761
Retained Earnings
Shareholders' Equity
Beginning Balance		366,793	366,793	357,768	362,407	338,875	323,515
Comprehensive income			(66,784)	15,332	1,668	29,836	21,657
Repurchase of shares			(17,721)
Cash dividends declared and paid			(4,194)	(6,307)	(6,307)	(6,304)	(6,297)
Cumulative effect of change in accounting standards			(499)
Ending Balance			277,595	366,793	357,768	362,407	338,875
Accumulated Other Comprehensive (Loss) Income
Shareholders' Equity
Beginning Balance		$ (4,661)	(4,661)	(5,440)	(5,616)	(5,483)	(5,095)
Comprehensive income			(591)	779	176	(133)	(388)
Ending Balance			$ (5,252)	$ (4,661)	$ (5,440)	$ (5,616)	$ (5,483)

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	May 02, 2020	Feb. 01, 2020	May 04, 2019
CONDENSED CONSOLIDATED BALANCE SHEETS
Common stock, par value (in dollars per share)	$ 1.00	$ 1.00	$ 1.00

Basis of Presentation - COVID-19 Pandemic (Details) $ in Thousands	3 Months Ended
	May 02, 2020 USD ($)
Basis of Presentation
Impairment of goodwill and intangible assets	$ 60,452
Impairment of intangible assets with finite lives	200
Impairment	$ 17,707

Operating Group Information - Sales by operating group (Details) - USD ($) $ in Thousands	3 Months Ended
	May 02, 2020	May 04, 2019
Operating groups
Net sales	$ 160,343	$ 281,973
Operating Segments \| Tommy Bahama
Operating groups
Net sales	86,984	164,730
Operating Segments \| Lilly Pulitzer
Operating groups
Net sales	49,149	72,595
Operating Segments \| Lanier Apparel
Operating groups
Net sales	10,725	26,154
Operating Segments \| Southern Tide
Operating groups
Net sales	8,301	14,134
Corporate and Other
Operating groups
Net sales	5,184	4,360
Retail
Operating groups
Net sales	$ 45,503	$ 108,006
Net sales (as a percent)	28.00%	38.00%
Retail \| Operating Segments \| Tommy Bahama
Operating groups
Net sales (as a percent)	39.00%	47.00%
Retail \| Operating Segments \| Lilly Pulitzer
Operating groups
Net sales (as a percent)	24.00%	42.00%
E-commerce
Operating groups
Net sales	$ 53,694	$ 47,989
Net sales (as a percent)	34.00%	17.00%
E-commerce \| Operating Segments \| Tommy Bahama
Operating groups
Net sales (as a percent)	28.00%	15.00%
E-commerce \| Operating Segments \| Lilly Pulitzer
Operating groups
Net sales (as a percent)	50.00%	25.00%
E-commerce \| Operating Segments \| Southern Tide
Operating groups
Net sales (as a percent)	21.00%	13.00%
E-commerce \| Corporate and Other
Operating groups
Net sales (as a percent)	63.00%	60.00%
Restaurant
Operating groups
Net sales	$ 11,763	$ 23,601
Net sales (as a percent)	7.00%	9.00%
Restaurant \| Operating Segments \| Tommy Bahama
Operating groups
Net sales (as a percent)	13.00%	14.00%
Wholesale
Operating groups
Net sales	$ 49,058	$ 101,926
Net sales (as a percent)	31.00%	36.00%
Wholesale \| Operating Segments \| Tommy Bahama
Operating groups
Net sales (as a percent)	20.00%	24.00%
Wholesale \| Operating Segments \| Lilly Pulitzer
Operating groups
Net sales (as a percent)	26.00%	33.00%
Wholesale \| Operating Segments \| Lanier Apparel
Operating groups
Net sales (as a percent)	100.00%	100.00%
Wholesale \| Operating Segments \| Southern Tide
Operating groups
Net sales (as a percent)	79.00%	87.00%
Wholesale \| Corporate and Other
Operating groups
Net sales (as a percent)	32.00%	32.00%
Other
Operating groups
Net sales	$ 325	$ 451
Other \| Corporate and Other
Operating groups
Net sales (as a percent)	5.00%	8.00%

Debt (Details) - US Revolving Credit Agreement - USD ($) $ in Millions	May 02, 2020	Feb. 01, 2020	May 04, 2019
Debt
Debt outstanding	$ 208	$ 0	$ 33
Maximum borrowing capacity	$ 325
Weighted average borrowing rate	1.70%
Letters of credit outstanding	$ 3
Unused availability	$ 114

Leases - Cost (Details) $ in Millions	3 Months Ended
Leases - Cost (Details) $ in Millions	May 02, 2020 USD ($)
Leases
Operating lease expense	$ 16
Variable lease cost	8
Total lease cost	$ 25
Weighted average remaining lease term	6 years 6 months
Weighted average discount rate (as a percent)	4.50%
Cash paid for lease liabilities	$ 8

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	May 02, 2020	May 04, 2019
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net (loss) earnings	$ (66,784)	$ 21,657
Other comprehensive income (loss), net of taxes:
Net foreign currency translation adjustment	(591)	(388)
Comprehensive (loss) income	$ (67,375)	$ 21,269

Basis of Presentation - Accounting Standards (Details) - USD ($) $ in Thousands	May 02, 2020	Feb. 02, 2020	Feb. 01, 2020	May 04, 2019
Accounting Standards Adopted
Retained earnings	$ 277,595		$ 366,793	$ 338,875
ASC Topic 326, Financial Instruments-Credit Losses
Accounting Standards Adopted
Change in Accounting Principle, Accounting Standards Update, Adopted		true
ASC Topic 326, Financial Instruments-Credit Losses \| Adjustment
Accounting Standards Adopted
Retained earnings		$ (500)

Intangible Assets and Goodwill - By category (Details) - USD ($) $ in Thousands	May 02, 2020	Feb. 01, 2020	May 04, 2019	Feb. 02, 2019
Intangible assets with finite lives
Intangible assets with finite lives	$ 51,929	$ 51,929	$ 51,929
Accumulated amortization and impairment	(42,414)	(41,924)	(41,046)
Total intangible assets with finite lives, net	9,515	10,005	10,883
Intangible assets with indefinite lives:
Total intangible assets, net	157,015	175,005	175,883	$ 176,176
Trademarks \| Tommy Bahama
Intangible assets with indefinite lives:
Intangible assets with indefinite lives	110,700	110,700	110,700
Trademarks \| Lilly Pulitzer
Intangible assets with indefinite lives:
Intangible assets with indefinite lives	27,500	27,500	27,500
Trademarks \| Southern Tide
Intangible assets with indefinite lives:
Intangible assets with indefinite lives	$ 9,300	$ 26,800	$ 26,800

Intangible Assets and Goodwill - Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	May 02, 2020	Feb. 01, 2020
Changes in the carrying amount of goodwill
Balance at the beginning of the period	$ 66,578	$ 66,621
Impairment	(42,745)
Other, including foreign currency	(31)	(43)
Balance at the end of the period	23,802	66,578
Operating Segments \| Tommy Bahama
Changes in the carrying amount of goodwill
Balance at the beginning of the period	711	754
Other, including foreign currency	(31)	(43)
Balance at the end of the period	680	711
Operating Segments \| Lilly Pulitzer
Changes in the carrying amount of goodwill
Balance at the beginning of the period	19,522	19,522
Balance at the end of the period	19,522	19,522
Operating Segments \| Southern Tide
Changes in the carrying amount of goodwill
Balance at the beginning of the period	42,745	42,745
Impairment	(42,745)
Balance at the end of the period		42,745
Corporate and Other
Changes in the carrying amount of goodwill
Balance at the beginning of the period	3,600	3,600
Balance at the end of the period	$ 3,600	$ 3,600

Leases - Lease liability payment schedule CY (Details) $ in Thousands	May 02, 2020 USD ($)
Required lease liability payments due
Remainder of 2020	$ 56,795
Fiscal 2021	67,214
Fiscal 2022	63,377
Fiscal 2023	59,126
Fiscal 2024	45,783
Fiscal 2025	31,355
After 2025	64,827
Total lease payments	388,477
Less: Difference between discounted and undiscounted lease payments	50,539
Present value of lease liabilities	$ 337,938

Income Taxes (Details)	3 Months Ended		12 Months Ended
Income Taxes (Details)	May 02, 2020	May 04, 2019	Dec. 31, 2017
Income Taxes
Effective income tax rate (as a percent)	(22.50%)	25.50%
Statutory rate (as a percent)	21.00%	21.00%	35.00%
Effective income tax benefit rate on impairment charges (as a percent)	17.00%