0000075288-23-000005 | 10-K | XBRL Viewer

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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Jan. 28, 2023	Mar. 24, 2023	Jul. 29, 2022
Document and Entity Information
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jan. 28, 2023
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, $1 par value
Trading Symbol	OXM
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 1,034,608,993
Entity Common Stock, Shares Outstanding		15,773,793
Auditor Name	Ernst & Young LLP
Auditor Location	Atlanta, Georgia
Auditor Firm ID	42
Entity Central Index Key	0000075288
Current Fiscal Year End Date	--01-28
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jan. 28, 2023	Jan. 29, 2022
Current Assets
Cash and cash equivalents	$ 8,826	$ 44,859
Short-term investments	0	164,890
Receivables, net	43,986	31,588
Inventories, net	220,138	117,709
Income tax receivable	19,440	19,728
Prepaid expenses and other current assets	38,073	21,561
Total Current Assets	330,463	400,335
Property and equipment, net	177,584	152,447
Intangible assets, net	283,845	155,307
Goodwill	120,498	23,869
Operating lease assets	240,690	195,100
Other assets, net	35,585	30,584
Total Assets	1,188,665	957,642
Current Liabilities
Accounts payable	94,611	80,753
Accrued compensation	35,022	30,345
Current portion of operating lease liabilities	73,865	61,272
Accrued expenses and other liabilities	66,141	53,796
Total Current Liabilities	269,639	226,166
Long-term debt	119,011
Non-current portion of operating lease liabilities	220,709	199,488
Other non-current liabilities	20,055	21,413
Deferred income taxes	2,981	2,911
Shareholders' Equity
Common stock, $1.00 par value per share	15,774	16,805
Additional paid-in capital	172,175	163,156
Retained earnings	370,145	331,175
Accumulated other comprehensive loss	(1,824)	(3,472)
Total Shareholders' Equity	556,270	507,664
Total Liabilities and Shareholders' Equity	$ 1,188,665	$ 957,642

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jan. 28, 2023	Jan. 29, 2022
CONSOLIDATED BALANCE SHEETS
Common stock, par value (in dollars per share)	$ 1.00	$ 1.00

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
CONSOLIDATED STATEMENTS OF OPERATIONS
Net sales	$ 1,411,528	$ 1,142,079	$ 748,833
Cost of goods sold	522,673	435,861	333,626
Gross profit	888,855	706,218	415,207
SG&A	692,004	573,636	492,628
Impairment of goodwill and intangible assets			60,452
Royalties and other operating income	21,923	32,921	14,024
Operating income (loss	218,774	165,503	(123,849)
Interest expense, net	3,049	944	2,028
Earnings (loss) before income taxes	215,725	164,559	(125,877)
Income tax expense (benefit)	49,990	33,238	(30,185)
Net earnings (loss), basic	165,735	131,321	(95,692)
Net earnings (loss), diluted	$ 165,735	$ 131,321	$ (95,692)
Net earnings (loss) per share:
Basic (in dollars per share)	$ 10.42	$ 7.90	$ (5.77)
Diluted (in dollars per share)	$ 10.19	$ 7.78	$ (5.77)
Weighted average shares outstanding:
Basic (in shares)	15,902	16,631	16,576
Diluted (in shares)	16,259	16,869	16,576
Dividends declared per share (in dollars per share)	$ 2.20	$ 1.63	$ 1.00

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net earnings (loss)	$ 165,735	$ 131,321	$ (95,692)
Other comprehensive income (loss), net of taxes:
Net foreign currency translation adjustment	1,648	192	997
Comprehensive income (loss)	$ 167,383	$ 131,513	$ (94,695)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock	Additional Paid-In Capital	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Cumulative Effect, Period of Adoption, Adjustment	Total
Beginning Balance at Feb. 01, 2020	$ 17,040	$ 149,426	$ (499)	$ 366,793	$ (4,661)	$ (499)	$ 528,598
Increase (Decrease) in Stockholders' Equity
Net earnings and other comprehensive income				(95,692)	997		(94,695)
Shares issued under equity plans	227	1,151					1,378
Compensation expense for equity awards		7,755					7,755
Repurchase of shares	(378)	(1,824)		(17,721)			(19,923)
Cash dividends declared and paid				(16,886)			(16,886)
Ending Balance at Jan. 30, 2021	16,889	156,508		235,995	(3,664)		405,728
Increase (Decrease) in Stockholders' Equity
Net earnings and other comprehensive income				131,321	192		131,513
Shares issued under equity plans	41	1,411					1,452
Compensation expense for equity awards		8,186					8,186
Repurchase of shares	(125)	(2,949)		(8,268)			(11,342)
Cash dividends declared and paid				(27,873)			(27,873)
Ending Balance at Jan. 29, 2022	16,805	163,156		331,175	(3,472)		507,664
Increase (Decrease) in Stockholders' Equity
Net earnings and other comprehensive income				165,735	1,648		167,383
Shares issued under equity plans	26	1,573					1,599
Compensation expense for equity awards		10,577					10,577
Repurchase of shares	(1,057)	(3,131)		(90,651)			(94,839)
Cash dividends declared and paid				(36,114)			(36,114)
Ending Balance at Jan. 28, 2023	$ 15,774	$ 172,175		$ 370,145	$ (1,824)		$ 556,270

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

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+ Details

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Cash Flows From Operating Activities:
Net earnings (loss)	$ 165,735	$ 131,321	$ (95,692)
Adjustments to reconcile net earnings to cash flows from operating activities:
Depreciation	41,503	39,062	38,975
Amortization of intangible assets	6,102	880	1,111
Impairment of goodwill and intangible assets			60,452
Impairment of property and equipment	1,430	1,656	19,828
Equity compensation expense	10,577	8,186	7,755
Gain on sale of investment in unconsolidated entity		(11,586)
Gain on sale of property and equipment	(600)	(2,669)
Amortization of deferred financing costs	344	344	344
Change in fair value of contingent consideration		1,188	593
Deferred income taxes	(1,867)	4,054	(18,332)
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Receivables, net	(1,966)	(15)	28,406
Inventories, net	(78,966)	5,378	29,355
Income tax receivable	288	(1,753)	(17,113)
Prepaid expenses and other current assets	(12,793)	(889)	5,087
Current liabilities	8,635	27,585	17,611
Other non-current assets, net	14,233	37,534	53,819
Other non-current liabilities	(27,045)	(42,270)	(48,349)
Cash provided by operating activities	125,610	198,006	83,850
Cash Flows From Investing Activities:
Acquisitions, net of cash acquired	(263,648)
Purchases of property and equipment	(46,668)	(31,894)	(28,924)
Purchases of short-term investments	(70,000)	(165,000)
Proceeds from short-term investments	234,852
Proceeds from sale of investment in unconsolidated entity		14,586
Other investing activities	(6,283)	736	(5,727)
Cash used in investing activities	(151,747)	(181,572)	(34,651)
Cash Flows From Financing Activities:
Repayment of revolving credit arrangements	(145,894)		(280,963)
Proceeds from revolving credit arrangements	264,905		280,963
Repurchase of common stock	(91,674)	(8,359)	(18,053)
Proceeds from issuance of common stock	1,599	1,452	1,378
Repurchase of equity awards for employee tax withholding liabilities	(3,166)	(2,983)	(1,870)
Cash dividends paid	(35,287)	(27,536)	(16,844)
Other financing activities	(2,010)	(749)	(459)
Cash used in financing activities	(11,527)	(38,175)	(35,848)
Net change in cash and cash equivalents	(37,664)	(21,741)	13,351
Effect of foreign currency translation on cash and cash equivalents	1,631	587	202
Cash and cash equivalents at the beginning of year	44,859	66,013	52,460
Cash and cash equivalents at the end of period	$ 8,826	$ 44,859	$ 66,013

Business and Summary of Significant Accounting Policies

12 Months Ended

Jan. 28, 2023

Basis of Presentation

Business and Summary of Significant Accounting Policies

Note 1. Business and Summary of Significant Accounting Policies

Description of Business

We are a leading branded apparel company that designs, sources, markets and distributes products bearing the trademarks of our Tommy Bahama®, Lilly Pulitzer®, Johnny Was®, Southern Tide®, The Beaufort Bonnet Company® and Duck Head® lifestyle brands. We distribute our products through our direct to consumer channels, consisting of our brand specific full-price retail stores, e-commerce websites and outlet stores, and our wholesale distribution channel, which includes sales to various specialty stores, Signature Stores, better department stores, multi-branded e-commerce websites and other retailers. Additionally, we operate Tommy Bahama food and beverage locations, including Marlin Bars and full-service restaurants, generally adjacent to a Tommy Bahama full-price retail store.

On September 19, 2022, we acquired the Johnny Was lifestyle apparel brand and its related assets and operations, which is discussed in further detail in Note 12. Also, in Fiscal 2021, we exited our Lanier Apparel business, as discussed in Note 11. Additionally, refer to Note 2 for certain financial information about the Johnny Was and Lanier Apparel operating groups.

Recent Macroeconomic Conditions

The COVID-19 pandemic has had a significant effect on overall economic conditions and our operations in recent years and accelerated or exacerbated many of the changes in the industry. In Fiscal 2021, the economic environment improved significantly with a rebound in retail traffic starting in March 2021 and other improvements as the year progressed, although certain stores were closed for portions of Fiscal 2021, particularly in the First Quarter of Fiscal 2021. This exceptionally strong consumer demand, along with the strength of our brands, resulted in record earnings for us during both Fiscal 2021 and Fiscal 2022. The strong earnings in recent periods are despite certain challenges in the retail apparel market, including labor shortages, supply chain disruptions and product and operating cost increases in Fiscal 2021 and Fiscal 2022. We, as well as others in our industry, have increased prices to attempt to offset inflationary pressures.

Further, negative economic conditions often have a longer and more severe impact on the apparel industry than on other industries due, in part, to apparel purchases often being more of a discretionary purchase. The current macroenvironment, with heightened concerns about inflation, a global economic recession, geopolitical issues, the stability of the U.S. banking system, the availability and cost of credit and continued increases in interest rates, is creating a complex and challenging retail environment, which may impact our businesses and exacerbate some of the inherent challenges to our operations. There remains significant uncertainty in the macroeconomic environment, and the impact of these and other factors could have a major effect on our businesses.

Fiscal Year

We operate and report on a 52/53-week fiscal year. Our fiscal year ends on the Saturday closest to January 31 and is designated by the calendar year in which the fiscal year commences. As used in our consolidated financial statements, the terms Fiscal 2020, Fiscal 2021, Fiscal 2022 and Fiscal 2023 reflect the 52 weeks ended January 30, 2021; 52 weeks ended January 29, 2022; 52 weeks ended January 28, 2023; and 53 weeks ending February 3, 2024, respectively.

Principles of Consolidation

Our consolidated financial statements include the accounts of Oxford Industries, Inc. and any other entities in which we have a controlling financial interest, including our wholly-owned domestic and foreign subsidiaries, or variable interest entities for which we are the primary beneficiary, if any. Generally, we consolidate businesses in which

we have a controlling financial interest which may be evidenced through ownership of a majority voting interest or other rights which might indicate that we are the primary beneficiary of the entity. The primary beneficiary has both the power to direct the activities of the entity that most significantly impact the entity’s economic performance and the obligation to absorb losses or the right to receive benefits from the entity that could potentially be significant to the entity. All significant intercompany accounts and transactions are eliminated in consolidation.

Business Combinations

The cost of each acquired business is allocated to the individual tangible and intangible assets acquired and liabilities assumed or incurred as a result of an acquisition based on their estimated fair values pursuant to the acquisition method of accounting. The assessment of the estimated fair values of assets and liabilities acquired requires us to make certain assumptions regarding the use of the acquired assets, anticipated cash flows, probabilities of cash flows, discount rates and other factors, many of which involve a significant amount of uncertainty. Additionally, the definition of fair value of inventories acquired as part of a business combination generally will equal the expected sales price less certain costs associated with selling the inventory, which may exceed the actual cost of the acquired inventories, resulting in an inventory step-up to fair value at acquisition, which would be recognized in our consolidated statements of operations as the acquired inventory is sold.

Our estimates of the purchase price allocation of a business combination may be revised during a measurement period as necessary when, and if, information becomes available to revise the fair values of the assets acquired and the liabilities assumed. Actual fair values ultimately assigned to the acquired assets and liabilities when final information is available may materially differ from our preliminary estimates during the measurement period. The allocation period may not exceed one year from the date of the acquisition. Should information become available after the allocation period indicating that an adjustment to the purchase price allocation is appropriate, that adjustment will be included in our consolidated statements of operations. The results of operations of acquired businesses are included in our consolidated statements of operations from the respective dates of the acquisitions. Transaction costs related to business combinations are included in SG&A in our consolidated statements of operations as incurred.

Refer to Note 12 for information related to the Fiscal 2022 acquisition of Johnny Was, including disclosures about the allocation of the preliminary purchase price to the estimated fair values of the acquired assets and liabilities.

Revenue Recognition and Receivables

Our revenue consists of direct to consumer sales, including our retail store, e-commerce and food and beverage operations, and wholesale sales, as well as royalty income, which is included in royalties and other income in our consolidated statements of operations. Revenue is recognized at an amount that reflects the consideration expected to be received for those goods and services 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 table below quantifies the amount of net sales by distribution channel (in thousands) for each period presented.


	Fiscal		Fiscal		Fiscal
	2022		2021		2020
Retail	$	552,696	$	443,015	$	202,071
E-commerce		465,446		369,300		323,900
Food & beverage		109,225		96,244		48,428
Wholesale		281,938		231,536		173,209
Other		2,223		1,984		1,225
Net sales	$	1,411,528	$	1,142,079	$	748,833

We recognize revenue when performance obligations under the terms of the contracts with our customers are satisfied, which generally occurs when we deliver our products to our direct to consumer and wholesale customers. Control of the product is generally transferred upon providing the product to consumers in our bricks and mortar retail stores and food and beverage locations, upon physical delivery of the products to consumers in our e-commerce operations and upon shipment from our distribution center to customers in our wholesale operations. Once control is transferred to the customer, we have completed our performance obligations related to the contract and have an unconditional right to consideration for the products sold as outlined in the contract. Our receivables resulting from contracts with customers in our direct to consumer operations are generally collected within a few days, upon settlement of the credit card transaction, while our receivables resulting from contracts with our customers in our wholesale operations are generally due within one quarter, in accordance with established credit terms. All of our performance obligations under the terms of our contracts with customers in our direct to consumer and wholesale operations have an expected original duration of one year or less. We only recognize revenue to the extent that it is probable that we will not have a significant reversal of revenue in a future period. Our revenue, including any freight income, is recognized net of applicable taxes in our consolidated statements of operations.

In our direct to consumer operations, consumers have certain rights to return product within a specified period and are eligible for certain point of sale discounts; thus retail store, e-commerce and food and beverage revenues are recorded net of estimated returns and discounts, as applicable. The sales return allowance is based on historical direct to consumer return rates and current trends and is recognized on a gross basis as a return liability for the amount of sales estimated to be returned and a return asset for the right to recover the product estimated to be returned by the customer. The value of inventory associated with a right to recover the goods returned in our direct to consumer operations is included in prepaid expenses and other current assets in our consolidated balance sheets. The changes in the return liability are recognized in net sales and the changes in the return asset are recognized in cost of goods sold in our consolidated statements of operations. An estimated sales return liability of $12 million and $11 million for expected direct to consumer returns is classified in accrued expenses and other liabilities in our consolidated balance sheet as of January 28, 2023 and January 29, 2022, respectively.

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. Some of these arrangements are written agreements, while others may be implied by customary practices or expectations in the industry. As certain allowances, other deductions and returns are not finalized until the end of a season, program or other event which may not have occurred yet, we estimate such discounts, allowances and returns on an ongoing basis to estimate the consideration from the customer that we expect to ultimately receive. Significant considerations in determining our estimates for discounts, allowances, operational chargebacks and returns for wholesale customers may include historical and current trends, agreements with customers, projected seasonal or program results, an evaluation of current economic conditions, specific program or product expectations and retailer performance. We record the discounts, returns, allowances and operational chargebacks as a reduction to net sales in our consolidated statements of operations and as a reduction to receivables, net in our consolidated balance sheets, with the estimated value of inventory expected to be returned in prepaid expenses and other current assets in our consolidated balance sheets. As of January 28, 2023 and January 29, 2022, reserve balances recorded as a reduction to wholesale receivables related to these items were $4 million and $3 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 our wholesale customer receivable amounts not specifically provided for, we recognize estimated provisions for credit losses, using the current expected loss model based on our historical collection experience, the financial condition of our customers, an evaluation of current economic conditions, anticipated trends and the risk characteristics of the receivables. Provisions for credit loss expense, which is included in SG&A in our consolidated statements of operations, for Fiscal 2022, Fiscal 2021 and Fiscal 2020 were a credit of less than $1 million, a credit of $1 million and a charge of $4 million, respectively,

while write-offs of credit losses for Fiscal 2022, Fiscal 2021 and Fiscal 2020 were less than $1 million, less than $1 million and $2 million, respectively. As of both January 28, 2023 and January 29, 2022, receivables, net in our consolidated balance sheet included a provision for credit losses related to trade receivables of $1 million.

In addition to trade receivables, tenant allowances due from landlord of $2 million and $1 million are included in receivables, net in our consolidated balance sheet, as of January 28, 2023 and January 29, 2022, respectively. Substantially all other amounts recognized in receivables, net represent trade receivables related to contracts with customers, including receivables from wholesale customers, credit card receivables related to our direct to consumer operations, and receivables from licensing partners. As of both January 28, 2023 and January 29, 2022, prepaid expenses and other current assets included $4 million representing the estimated value of inventory for expected direct to consumer and wholesale sales returns in the aggregate. We did not have any significant contract assets related to contracts with customers, other than trade receivables and the value of inventory associated with expected sales returns, as of January 28, 2023 and January 29, 2022.

In addition to our estimated expected return amounts, contract liabilities related to contracts with our customers include gift cards and merchandise credits issued by us as well as unredeemed loyalty program award points. Gift cards and merchandise credits issued by us are redeemable on demand by the holder, do not have an expiration date and do not incur administrative fees. Historically, substantially all gift cards and merchandise credits are redeemed within one year of issuance. Gift cards and merchandise credits are recorded as a liability until our performance obligation is satisfied, which occurs when redeemed by the consumer, at which point revenue is recognized. However, we recognize estimated breakage income for certain gift cards and merchandise credits using the redemption recognition method, subject to applicable laws in certain states. 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 accrued expenses and other liabilities in our consolidated balance sheets and totaled $19 million and $16 million as of January 28, 2023 and January 29, 2022, respectively. Gift card breakage income, which is included in net sales in our consolidated statements of operations, was $1 million in each of Fiscal 2022, Fiscal 2021 and Fiscal 2020.

In Fiscal 2021, each of our brands in our Emerging Brands operating group initiated brand specific loyalty award programs. These programs allow consumers to earn loyalty points associated with the brand. These programs are primarily spend-based loyalty programs, with varying terms and conditions for each respective brand’s program. The consumer earns points which, depending on the program, allows the consumer to (1) achieve a specified status with the brand, which provides the consumer with benefits, such as early access to events, free shipping or other benefits, for a specified period, and/or (2) earn a monetary reward by accumulating loyalty points that can be redeemed in association with future purchases from the brand. As loyalty points are earned, we defer revenue, based on the estimated fair value of the loyalty points, with a corresponding liability in accrued expenses and other liabilities in our consolidated balance sheets. The loyalty points liability is generally recognized as revenue when the loyalty points are redeemed or expire. Deferred revenue associated with the loyalty programs totaled $1 million as of both January 28, 2023 and January 29, 2022.

Royalties from the license of our owned brands are recognized over the time that licensees are provided access to utilize our trademarks (i.e. symbolic intellectual property) and benefit from such access through their sales of licensed products. Payments are generally due quarterly, and depending on time of receipt, may be recorded as a liability until recognized as revenue. Royalty income is based upon the contractually guaranteed minimum royalty obligations and adjusted as sales data, or estimates thereof, is received from licensees, when the related royalties based on a percentage of the licensee’s sales exceed the contractually determined minimum royalty amount. Royalty income, which is included in royalties and other operating income in our consolidated statements of operations, were $22 million, $18 million and $14 million during Fiscal 2022, Fiscal 2021 and Fiscal 2020, respectively.

Cost of Goods Sold

We include in cost of goods sold (1) the cost paid to the suppliers for the acquired product, (2) sourcing, procurement and other costs incurred prior to or in association with the receipt of finished goods at our distribution facilities, and (3) freight from our distribution facilities to our own retail stores, e-commerce consumers and wholesale customers. The costs prior to receipt at our distribution facilities include inbound freight charges, duties and other import costs, brokers’ fees, consolidators’ fees, insurance, direct labor, and depreciation expense associated with our sourcing operations. We generally classify amounts billed to customers for freight in net sales and classify freight costs for shipments to customers in cost of goods sold in our consolidated statements of operations.

Our gross profit and gross margin may not be directly comparable to those of our competitors, as statement of operations classifications of certain expenses may vary by company.

SG&A

We include in SG&A costs incurred subsequent to the receipt of finished goods at our distribution facilities, such as the cost of inspection, stocking, warehousing, picking and packing, and costs associated with the operations of our e-commerce sites, retail stores, food and beverage locations and concessions, such as labor, lease commitments and other occupancy costs, direct to consumer location pre-opening costs (including rent, marketing, store set-up costs and training expenses), depreciation and other amounts. SG&A also includes product design costs, selling costs, royalty expense, provision for credit losses, advertising, promotion and marketing expenses, professional fees, supplies, travel, other general and administrative expenses, our corporate overhead costs and amortization of intangible assets.

Distribution network costs, including costs associated with preparing goods to ship to customers and our costs to operate our distribution facilities, are included as a component of SG&A. We consider distribution network costs to be the costs associated with operating our distribution centers, as well as the costs paid to third parties who perform those services for us. In Fiscal 2022, Fiscal 2021 and Fiscal 2020, distribution network costs included in SG&A totaled $36 million, $28 million and $26 million, respectively.

All costs associated with advertising, promotion and marketing of our products are expensed in SG&A during the period when the advertisement is first shown. Costs associated with cooperative advertising programs under which we agree to make general contributions to our wholesale customers’ advertising and promotional funds are generally recorded as a reduction to net sales. Advertising, promotion and marketing expenses, excluding employment costs for our advertising and marketing employees, for Fiscal 2022, Fiscal 2021 and Fiscal 2020 were $82 million, $60 million and $50 million, respectively. Prepaid advertising, promotion and marketing expenses included in prepaid expenses and other current assets in our consolidated balance sheets as of January 28, 2023 and January 29, 2022 were $6 million and $4 million, respectively.

Royalty expense related to our license of third party brands, which are generally based on the greater of a percentage of our actual net sales for the licensed product or a contractually determined minimum royalty amount, are recorded based upon any guaranteed minimum levels and adjusted based on our net sales of the licensed products, as appropriate. Royalty expenses recognized as SG&A in Fiscal 2022, Fiscal 2021 and Fiscal 2020 were $4 million, $6 million and $6 million, respectively. As of January 28, 2023, we do not have any royalty agreements with material guaranteed minimum royalty amounts for future periods as future royalty amounts are generally dependent on our future sales of the specified licensed products.

Cash and Cash Equivalents

We consider cash equivalents to be investments with original maturities of three months or less for purposes of our consolidated statements of cash flows. As of January 28, 2023 and January 29, 2022, our cash and cash equivalents included $1 million and $37 million, respectively, of money market fund investments.

Supplemental Cash Flow Information

During Fiscal 2022, Fiscal 2021 and Fiscal 2020, cash paid for income taxes was $56 million, $34 million and $6 million, respectively. During Fiscal 2022, Fiscal 2021 and Fiscal 2020, cash paid for interest, net of interest income was $3 million, $1 million and $2 million, respectively. Non-cash investing activities included capital expenditures incurred but not yet paid at period end, which were included in accounts payable in our consolidated balances sheets, of $3 million, $3 million and $1 million as of Fiscal 2022, Fiscal 2021 and Fiscal 2020, respectively. Additionally, during Fiscal 2022, Fiscal 2021 and Fiscal 2020, we recorded a non-cash net increase in operating lease assets and corresponding operating lease liability amounts of $47 million, $18 million and $2 million, respectively, related to the net impact of new, modified and terminated operating lease amounts, excluding any operating lease amounts recognized in the opening balance sheet of an acquired business.

Short-Term Investments

As of January 28, 2023 and January 29, 2022, we had $0 million and $165 million, respectively, of short-term investments on our consolidated balance sheet, generally consisting of highly liquid corporate and U.S. Treasury securities, which were expected to be liquidated within one year. We classify these short-term investments as trading securities, and accordingly, the investments are recorded at fair value, based on Level 1 measurements, with the gains or losses recognized in our consolidated statements of operations in royalties and other income.

Inventories, net

Substantially all of our inventories are finished goods inventories of apparel, accessories and other related products. Inventories are valued at the lower of cost or market.

For operating group reporting, inventory is carried at the lower of FIFO cost or market. We evaluate the composition of our inventories for identification of distressed inventory at least quarterly. In performing this evaluation, we consider slow-turning products, an indication of lack of consumer acceptance of particular products, prior-seasons’ fashion products, broken assortments, discontinued products and current levels of replenishment program products as compared to expected sales. We estimate the amount of goods that we will not be able to sell in the normal course of business and write down the value of these goods as necessary based on various assumptions about the amounts we ultimately expect to realize for the inventories. Also, we provide an allowance for shrinkage, as appropriate, for the period between the last physical inventory count and each balance sheet date.

For consolidated financial reporting, as of January 28, 2023 and January 29, 2022, $204 million, or 93%, and $103 million, or 88%, respectively, of our inventories were valued at the lower of LIFO cost or market after deducting our LIFO accounting reserve. The remaining $16 million and $14 million of our inventories were valued at the lower of FIFO cost or market as of January 28, 2023 and January 29, 2022, respectively. Generally, for consolidated financial reporting, inventories of our domestic operations are valued at the lower of LIFO cost or market, and our inventories of our international operations are valued at the lower of FIFO cost or market. Our LIFO reserves are based on the estimated Producer Price Index as published by the United States Department of Labor. We write down inventories valued at the lower of LIFO cost or market when LIFO cost exceeds market value. We deem LIFO accounting adjustments to not only include changes in the LIFO reserve, but also includes changes in markdown reserves. As our LIFO inventory pool does not correspond to our operating group definitions, LIFO inventory accounting adjustments are not allocated to our operating groups. Thus, the impact of accounting for inventories on the LIFO method is reflected in Corporate and Other for operating group reporting purposes included in Note 2.

There were no LIFO inventory layer liquidations that had a material impact on our net earnings in Fiscal 2022, Fiscal 2021 or Fiscal 2020. As of January 28, 2023 and January 29, 2022, the LIFO reserve included in our consolidated balance sheet was $76 million and $69 million, respectively.

Property and Equipment, net

Property and equipment, including leasehold improvements that are reimbursed by landlords as a tenant improvement allowance and assets under capital leases, if any, is carried at cost less accumulated depreciation. Additions are capitalized while repair and maintenance costs are charged to our consolidated statements of operations as incurred. Depreciation is calculated using both straight-line and accelerated methods generally over the estimated useful lives of the assets as follows:


Leasehold improvements		Lesser of remaining life of the asset or lease term
Furniture, fixtures, equipment and technology		2 – 15 years
Buildings and improvements		7 – 40 years

Property and equipment is reviewed periodically for impairment if events or changes in circumstances indicate that the carrying amount of the asset group may not be recoverable, as discussed in Impairment of Long-Lived Assets, other than Goodwill and Intangible Assets with Indefinite Lives below.

Substantially all of our depreciation expense is included in SG&A in our consolidated statements of operations. Cost of goods sold includes the depreciation associated with our sourcing operations. Depreciation expense as disclosed in Note 2 includes any property and equipment impairment charges.

Intangible Assets and Goodwill

At acquisition, we estimate and record the fair value of purchased intangible assets, which primarily consist of trademarks, as well as customer relationships and reacquired rights. The fair values and useful lives of these intangible assets are estimated based on our assessment as well as independent third party appraisals in some cases. Additionally, at acquisition we must determine whether the intangible asset has an indefinite or finite life and account for it accordingly. Refer to Note 4 for additional details about intangible assets.

Goodwill is recognized as the amount by which the cost to acquire a business exceeds the fair value of identified tangible and intangible assets acquired, net of assumed liabilities. Thus, the amount of goodwill recognized in connection with a business combination depends on the fair values assigned to the individual assets acquired and liabilities assumed in a business combination. Goodwill is allocated to the respective reporting unit at the time of acquisition. As of January 28, 2023, substantially all of our goodwill included in our consolidated balance sheet, including the goodwill of Johnny Was, is deductible for income tax purposes. Refer to Note 4 for additional information about our goodwill amounts.

At acquisition, as well as any subsequent impairment tests, assumptions and estimates about various items with significant uncertainty are required to determine the fair value of intangible assets and goodwill. When determining the fair value of intangible assets, including trademarks, customer relationships and other items, significant assumptions may include our planned use of the asset as well as estimates of net sales, royalty income, operating income, growth rates, royalty rates for the trademarks, a risk-adjusted, market based cost of capital for the discount rates and income tax rates, among other factors. Our fair value assessment may also consider any comparable market transactions.

Intangible assets with indefinite lives, which primarily consists of trademarks, and goodwill are not amortized but instead evaluated for impairment annually or more frequently if events or circumstances indicate that the intangible asset or goodwill might be impaired. This analysis is typically similar to the analysis performed at acquisition and dependent upon a number of uncertain factors, including those used in the initial valuation at acquisition as listed above. We have the option to first assess qualitative factors to determine whether it is more likely than not that an indefinite-lived intangible asset or goodwill is impaired to determine whether it is necessary to perform the quantitative impairment test. We also have the option to bypass the qualitative assessment entirely for any indefinite-lived intangible asset or

goodwill in any period and proceed directly to performing the quantitative impairment test. We test, either quantitatively or qualitatively, intangible assets with an indefinite life and goodwill for impairment as of the first day of the fourth quarter of our fiscal year, or at an interim date if indicators of impairment exist at that interim date. For each impairment test of intangible assets with an indefinite life and goodwill in Fiscal 2022, Fiscal 2021 and Fiscal 2020, we bypassed the qualitative test option and instead performed a quantitative test.

If an annual or interim analysis indicates an impairment of an intangible asset with an indefinite useful life or goodwill, the amount of the impairment is recognized in our consolidated financial statements based on the amount that the carrying value exceeds the estimated fair value of the asset for an intangible asset with an indefinite life or the reporting unit for goodwill. An impairment charge related to our Southern Tide intangible assets with an indefinite life totaling $18 million and goodwill of $43 million, which are included in the Emerging Brands operating group, was recognized in the First Quarter of Fiscal 2020.There were no other impairment charges during Fiscal 2022, Fiscal 2021 or Fiscal 2020.

Intangible assets with finite lives primarily consist of customer relationships, certain trademarks and reacquired rights. These assets are amortized over the estimated useful life of the asset using a method of amortization that reflects the pattern in which the economic benefits of the intangible asset are consumed or otherwise realized or the straight line method. Certain of our intangible assets with finite lives may be amortized over periods of up to 20 years. The determination of an appropriate useful life for amortization considers our plans for the intangible assets, the remaining contractual period of the reacquired right, and factors that may be outside of our control, including expected customer attrition. Amortization of intangible assets is included in SG&A in our consolidated statements of operations. Intangible assets with finite lives are reviewed periodically for impairment if events or changes in circumstances indicate that the carrying amount of the asset group may not be recoverable, as discussed below under Impairment of Long-Lived Assets, other than Goodwill and Intangible Assets with Indefinite Lives.

Any costs associated with extending or renewing recognized intangible assets are generally expensed as incurred.

Prepaid Expenses and Other Non-Current Assets, net

Amounts included in prepaid expenses and other current assets primarily consist of prepaid operating expenses, including subscriptions, maintenance and other services contracts, advertising, insurance, samples and direct to consumer supplies as well as the estimated value of inventory for anticipated direct to consumer and wholesale sales returns. Other non-current assets primarily consist of assets set aside for potential liabilities related to our deferred compensation plan, equity investments in unconsolidated entities, assets related to certain investments in officers’ life insurance policies, deposits and amounts placed into escrow accounts, deferred financing costs and non-current deferred tax assets.

Officers’ life insurance policies that are owned by us, which are included in other non-current assets, net, are recorded at their cash surrender value, less any outstanding loans associated with the life insurance policies that are payable to the life insurance company with which the policy is outstanding. As of both January 28, 2023 and January 29, 2022, officers’ life insurance policies, net, recorded in our consolidated balance sheets totaled $4 million.

Deferred financing costs for our revolving credit agreement are included in other non-current assets, net in our consolidated financial statements. Deferred financing costs are amortized on a straight-line basis, which approximates the effective interest method over the term of the related debt. Amortization of deferred financing costs is included in interest expense in our consolidated statements of operations. Unamortized deferred financing costs included in other non-current assets, net totaled $1 million as of both January 28, 2023 and January 29, 2022.

Deferred Compensation

We have a non-qualified deferred compensation plan offered to a select group of highly compensated employees and our non-employee directors. The plan provides participants with the opportunity to defer a portion of their cash compensation in a given plan year, of which a percentage may be matched by us in accordance with the terms of the plan. We make contributions to rabbi trusts or other investments to provide a source of funds for satisfying these deferred compensation liabilities. Investments held for our deferred compensation plan consist of insurance contracts and are recorded based on valuations which generally incorporate unobservable factors. Realized and unrealized gains and losses on the deferred compensation plan investments are recorded in SG&A in our consolidated statements of operations and substantially offset the changes in deferred compensation liabilities to participants resulting from changes in market values. These securities approximate the participant-directed investment selections underlying the deferred compensation liabilities.

The total value of the assets set aside for potential deferred compensation liabilities as of January 28, 2023 and January 29, 2022 was $16 million and $17 million, respectively. Substantially all of these amounts are held in a rabbi trust and included in other non-current assets, net in our consolidated balance sheet. Substantially all the assets set aside for potential deferred compensation liabilities are life insurance policies recorded at their cash surrender value, less any outstanding loans associated with the life insurance policies that are payable to the life insurance company with which the policy is outstanding. The liabilities associated with the non-qualified deferred compensation plan are included in other non-current liabilities in our consolidated balance sheets and totaled $15 million and $17 million at January 28, 2023 and January 29, 2022, respectively.

Equity Investments in Unconsolidated Entities

We account for equity investments in which we exercise significant influence, but do not control via voting rights and were determined to not be the primary beneficiary of, using the equity method of accounting. Generally, we determine that we exercise significant influence over a corporation or a limited liability company when we own 20% or more or 3% or more, respectively, of the voting interests, unless the facts and circumstances of that investment indicate that we do not have the ability to exhibit significant influence. Under the equity method of accounting, original investments are recorded at cost, and are subsequently adjusted for our contributions to, distributions from and share of income or losses of the entity. We account for equity investments in which we do not control or exercise significant influence using the fair value method of accounting unless there is not a readily determinable fair value for the equity investment. If there is no readily determinable fair value for such equity investment, we account for the equity investment using the alternative measurement method of cost adjusted for impairment and any identified observable price changes of the investment.

Equity investments accounted for using the equity method of accounting, fair value method of accounting, or alternative measurement method are included in other non-current assets in our consolidated balance sheets, while the income or loss related to such investments is included in royalties and other operating income in our consolidated statements of operations. During Fiscal 2022, we paid $8 million for equity investments in entities accounted for using the equity method of accounting. During Fiscal 2020, we paid $6 million, in the aggregate, for equity investments in entities accounted for using either the equity method of accounting or the alternative measurement method. These payments in Fiscal 2022 and Fiscal 2020 are included in other investing activities in our consolidated statements of cash flows.

As of January 28, 2023 and January 29, 2022, our consolidated balance sheet included equity investments accounted for using the equity method of accounting, fair value and alternative measurement method totaling, in the aggregate, $11 million and $3 million, respectively. The equity investments in unconsolidated entities included in our consolidated balance sheet represents substantially all of our exposure or loss related to these investments, as there are no meaningful obligations to fund additional amounts or losses related to these investments. These investments include (1) our minority ownership interest in a property in Indian Wells, California that will be converted into the Tommy

Bahama Miramonte Resort and Spa during Fiscal 2023, and (2) our minority ownership interests in smaller apparel lifestyle brands, in which we generally have an ownership interest of approximately 10% as of January 28, 2023. During Fiscal 2022, Fiscal 2021 and Fiscal 2020 we recognized amounts related to these investments in royalties and other income of a loss of $1 million, income of $12 million and a loss of less than $1 million, respectively. In Fiscal 2021, our minority ownership interests in an unconsolidated entity was redeemed upon that entity consummating a change in control transaction, resulting in proceeds to us of $15 million and a gain on sale of $12 million.

Impairment of Long-Lived Assets, other than Goodwill and Intangible Assets with Indefinite Lives

We assess our long-lived assets other than goodwill and intangible assets with indefinite lives for impairment whenever events indicate that the carrying amount of the asset or asset group may not be fully recoverable. This recoverability and impairment assessment is performed for a specific asset or asset group and includes any property and equipment, operating lease assets, intangible assets with finite lives and other non-current assets included in the asset group. Events that would typically result in such an assessment would include a change in the estimated useful life of the assets, including a change in our plans of the anticipated period of operating a leased direct to consumer location, the decision to vacate a leased space before lease expiration, the abandonment of an asset or other factors. These events may also result in a change in the determination of the assets included in an asset group for impairment testing. To analyze recoverability, we consider undiscounted net future cash flows over the remaining life of the asset or asset group. If the amounts are determined to not be recoverable an impairment is recognized resulting in the write-down of the asset or asset group and a corresponding charge to our consolidated statements of operations. Impairment losses are measured based on the difference between the carrying amount and the estimated fair value of the assets. For any assets impaired during Fiscal 2022, Fiscal 2021 and Fiscal 2020, there was no significant fair value at the date of impairment testing.

During Fiscal 2022, Fiscal 2021 and Fiscal 2020, we recognized $1 million, $2 million and $20 million, respectively, of property and equipment impairment charges, which were primarily included in SG&A. During Fiscal 2020, these charges primarily related to a $15 million write-off of previously capitalized costs associated with a Tommy Bahama information technology project that was abandoned in Fiscal 2020, $2 million of charges related to retail store assets due to retail store closures in Tommy Bahama and Lilly Pulitzer, $1 million of charges related to office leasehold improvements resulting from the Lanier Apparel exit and $1 million of charges related to office leasehold improvements associated with the 2020 restructuring of Tommy Bahama’s international sourcing operations.

During Fiscal 2022, we did not recognize any operating lease asset impairment charges. During Fiscal 2021 and Fiscal 2020, we recognized $5 million and $4 million, respectively, of operating lease asset impairment charges, which were primarily included in SG&A. During Fiscal 2021, these charges primarily related to our Tommy Bahama New York office and showroom lease, which was vacated in Fiscal 2021 and provides the landlord the ongoing right to terminate the lease. During Fiscal 2020, these charges primarily related to $3 million of charges related to certain office leases resulting from the Lanier Apparel exit and $1 million of charges related to an office lease associated with the 2020 restructuring of Tommy Bahama’s international sourcing operations.

As disclosed in Note 4, we recognized an impairment charge of less than $1 million of an intangible asset with a finite life in Lanier Apparel in Fiscal 2020. No impairment of intangible assets with finite lives was recognized during Fiscal 2022 or Fiscal 2021.

Accounts Payable, Accrued Compensation and Accrued Expenses and Other Liabilities

Liabilities for accounts payable, accrued compensation and accrued expenses and other liabilities are carried at cost, which approximates the fair value of the consideration expected to be paid in the future for goods and services received, whether or not billed to us as of the balance sheet date. Accruals for medical insurance and workers’ compensation, which are included in accrued expenses and other liabilities in our consolidated balance sheets, include estimated settlements for known claims, as well as accruals for estimates of incurred but not reported claims based on our claims experience and statistical trends.

Legal and Other Contingencies

We are subject to certain litigation, claims and assessments in the ordinary course of business. The claims and assessments may relate, among other things, to disputes about trademarks and other intellectual property, employee relations matters, real estate, licensing arrangements, importing or exporting regulations, product safety requirements, taxation or other topics. For those matters where it is probable that we have incurred a loss and the loss, or range of loss, can be reasonably estimated, we have recorded reserves in accrued expenses and other liabilities or other non-current liabilities in our consolidated financial statements for the estimated loss and related expenses, such as legal fees. In other instances, because of the uncertainties related to both the probable outcome or amount or range of loss, we are unable to make a reasonable estimate of a liability, if any, and therefore have not recorded a reserve. As additional information becomes available or as circumstances change, we adjust our assessment and estimates of such liabilities accordingly. Additionally, for any potential gain contingencies, we do not recognize the gain until the period that all contingencies have been resolved and the amounts are realizable. We believe the outcome of outstanding or pending matters, individually and in the aggregate, will not have a material impact on our consolidated financial statements, based on information currently available.

In connection with acquisitions, we may enter into contingent consideration arrangements, which provide for the payment of additional purchase price consideration to the sellers if certain performance criteria are achieved during a specified period. We recognize the fair value of the contingent consideration based on its estimated fair value at the date of acquisition. Such valuation requires assumptions regarding anticipated cash flows, probabilities of cash flows, discount rates and other factors. Each of these assumptions may involve a significant amount of uncertainty. Subsequent to the date of acquisition, we periodically adjust the liability for the contingent consideration to reflect the fair value of the contingent consideration by reassessing our valuation assumptions as of that date. A change in assumptions related to contingent consideration amounts could have a material impact on our consolidated financial statements. Any change in the fair value of the contingent consideration is recognized in SG&A in our consolidated statements of operations.

A change in the fair value of contingent consideration of $1 million and $1 million associated with the 2017 acquisition of TBBC was recognized in our consolidated statements of operations in Fiscal 2021 and Fiscal 2020, respectively. As of January 28, 2023 and January 29, 2022, $0 million and $2 million, respectively, of contingent consideration related to the TBBC acquisition was recognized as a liability in our consolidated balance sheet. In the aggregate, $4 million was earned by the sellers pursuant to the four year contingent consideration arrangement, which ended on January 29, 2022, with the final payment of $2 million paid in Fiscal 2022. One of the sellers of TBBC is an employee and continues to manage the operations of TBBC.

Other Non-current Liabilities

Amounts included in other non-current liabilities primarily consist of deferred compensation amounts and amounts related to uncertain tax positions.

Leases

In the ordinary course of business, we enter into real estate lease agreements for our direct to consumer locations, which include both retail and food and beverage locations, office and warehouse/distribution space, as well as leases for certain equipment. Our real estate leases have varying terms and expirations and may have provisions to extend, renew or terminate the lease agreement at our discretion, among other provisions. Our real estate lease terms are typically for a period of ten years or less and typically require monthly rent payments with specified rent escalations 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 direct to consumer location leases often provide for contingent rent payments based on sales if certain sales thresholds are achieved. For many of our real estate 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.

For our leases, we recognize operating lease liabilities equal to our obligation to make lease payments arising from the leases on a discounted basis and operating lease assets which represent our right to use, or control the use of, a specified asset for a lease term. Operating lease liabilities, which are included in current portion of operating lease liabilities and non-current portion of operating lease liabilities in our consolidated balance sheets, 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 future lease payments. The operating lease assets, which are included in operating lease assets in our consolidated balance sheets, at commencement represent the amount of the operating lease liability reduced for any lease incentives, including tenant improvement allowances. 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 generally is not reasonably certain. Variable rental payments for real estate taxes, sales tax, 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.

Lease expense for operating leases is generally recognized on a straight-line basis over the lease term, even if there are fixed escalation clauses, lease incentives for rent holidays, or other similar items from the date that we take possession of the space. Substantially all of our lease expense is recognized in SG&A in our consolidated statements of operations.

We account for the underlying operating lease at the individual lease level. The lease guidance requires us to discount future 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 the applicable commencement date. Our estimated incremental borrowing rate for a lease is the rate of interest we estimate 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 only applies if 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 in the lease agreement, (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, if the above conditions are met for the lease agreement, the lessee is not required to assess whether the eligible rent concessions are lease modifications. We have elected to apply the practical expedient for all eligible lease modifications resulting in the rent concession being recorded as an adjustment to variable lease payments and recognized in our consolidated statement of operations in that period. The amounts of concessions recognized immediately in our consolidated statement of operations pursuant to this practical expedient in Fiscal 2021 and Fiscal 2020 was $1 million and $4 million, respectively. For lease modifications that do not meet the criteria for the practical expedient, we account for the amendment and concession as a lease modification requiring lease remeasurement with the concession recognized as a reduction to the operating lease asset and recognized in our consolidated statements of operations over the remaining term of the respective lease agreement. The amount of concessions agreed to in Fiscal 2021 and Fiscal 2020 that were recognized as reductions of the operating lease asset and will be recognized in future periods over the remaining lease term as a reduction to rent expense was $3 million and $4 million, respectively. There were no concession amounts recognized immediately or initially recognized as reductions of the operating lease asset during Fiscal 2022 pursuant to this practical expedient.

Foreign Currency

We are exposed to foreign currency exchange risk when we generate net sales or incur expenses in currencies other than the functional currency of the respective operations. The resulting assets and liabilities denominated in amounts other than the respective functional currency are re-measured into the respective functional currency at the rate of exchange in effect on the balance sheet date, and income and expenses are re-measured at the average rates of exchange prevailing during the relevant period. The impact of any such re-measurement is recognized in our consolidated statements of operations in that period. Net losses (gains) included in our consolidated statements of operations related to foreign currency transactions recognized in Fiscal 2022, Fiscal 2021 and Fiscal 2020 were $2 million, $1 million and $0 million, respectively.

Additionally, the financial statements of our operations for which the functional currency is a currency other than the U.S. dollar are translated into U.S. dollars at the rate of exchange in effect on the balance sheet date for the balance sheet and at the average rates of exchange prevailing during the relevant period for the statements of operations. The impact of such translation is recognized in accumulated other comprehensive income (loss) in our consolidated balance sheets and included in other comprehensive income (loss) in our consolidated statements of comprehensive income resulting in no impact on net earnings for the relevant period. We view our foreign investments as long term, and we generally do not hedge such foreign investments.

As of January 28, 2023, our foreign currency exchange risk exposure primarily results from our businesses operating outside of the United States, which are primarily related to (1) our Tommy Bahama operations in Canada and Australia purchasing goods in U.S. dollars or other currencies and (2) certain other transactions, including intercompany transactions. During Fiscal 2022, Fiscal 2021 and Fiscal 2020, we did not enter into and were not a party to any foreign currency exchange contracts.

Interest Rate Risk

As all of our indebtedness is variable-rate debt, we are exposed to market risk from changes in interest rates. If we determine that our exposure to interest rate changes is higher than we believe is appropriate, we may attempt to limit the impact of interest rate changes on earnings and cash flow through a mix of variable-rate and fixed-rate debt or by entering into interest rate swap arrangements. Our assessment of appropriate levels of exposure to changes in interest rates also considers our need for flexibility in our borrowing arrangements resulting from the significant seasonality of our business and cash flows, anticipated future cash flows and our expectations about the risk of future interest rate changes, among other factors. During Fiscal 2022, Fiscal 2021 and Fiscal 2020, we did not enter into and were not a party to any interest rate swap agreements.

Fair Value Measurements

Fair value, in accordance with GAAP, is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. Valuation techniques include the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). These valuation techniques may be based upon either observable or unobservable inputs.

The three levels of inputs used to measure fair value pursuant to the guidance are as follows: (1) Level 1—Quoted prices in active markets for identical assets or liabilities; (2) Level 2—Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data; and (3) Level 3—Unobservable inputs that are supported by little or no market activity and

that are significant to the fair value of the assets or liabilities, which include certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.

As of January 28, 2023, our financial instruments consist primarily of our cash and cash equivalents, accounts receivable, accounts payable, accrued expenses, other current liabilities and debt. Given their short-term nature, the carrying amounts of cash and cash equivalents, receivables, accounts payable, accrued expenses and other current liabilities generally approximate their fair values. The fair values of any cash and cash equivalents invested on an overnight basis in money market funds, as well as short-term investments, are based upon the quoted prices in active markets provided by the holding financial institutions, which are considered Level 1 inputs in the fair value hierarchy. Additionally, we believe the carrying amounts of our variable-rate borrowings, if any, approximate fair value.

We have determined that our operating lease assets, property and equipment, intangible assets, goodwill and certain other non-current assets included in our consolidated balance sheets are non-financial assets measured at fair value on a non-recurring basis. We have determined that our approaches for determining fair values of each of these non-current assets are generally based on Level 3 inputs. Additionally, for any contingent consideration fair value amounts, we have determined that our approaches for determining fair value during the performance period are generally based on Level 3 inputs during the contingent consideration period.

In the First Quarter of Fiscal 2020, in determining the $9 million fair value, and resulting carrying value, of the Southern Tide trade name in our interim impairment test, which utilized the relief from royalty valuation method, we used certain Level 3 inputs. The significant unobservable inputs used in determining the fair value of the Southern Tide trade name as of the First Quarter of Fiscal 2020 included: (a) a double-digit percentage decrease in sales for the remainder of Fiscal 2020 as compared to the comparable prior year sales amounts, reflecting the anticipated impact of the COVID-19 pandemic during the remainder of Fiscal 2020; a double-digit percentage increase for sales in Fiscal 2021, reflecting an anticipated partial recovery from the COVID-19 pandemic; and high single-digit percentage growth rates for sales subsequent to Fiscal 2021, with the growth rate in future periods ultimately decreasing to a low single-digit percentage in the long term, and (b) a required rate of return for the intangible asset of 13%.

Equity Compensation

We have certain equity compensation plans as described in Note 8, which provide for the ability to grant restricted shares, restricted share units, options and other equity awards to our employees and non-employee directors. We recognize compensation expense related to equity awards to employees and non-employee directors in SG&A in our consolidated statements of operations based on the fair value of the awards on the grant date. The fair value of restricted share awards that are service and performance-based are determined based on the fair value of our common stock on the grant date. The fair value of restricted share awards that are market-based (e.g. relative total shareholder return (“TSR”)) are determined based on a Monte Carlo simulation model, which models multiple TSR paths for our common stock as well as the comparator group, as applicable, to evaluate and determine the estimated fair value of the restricted share award.

For awards with specified service requirements, the fair value of the awards granted to employees is recognized over the requisite service period. For performance-based awards (e.g. awards based on our earnings per share), during the performance period we assess expected performance versus the predetermined performance goals and adjust the cumulative equity compensation expense to reflect the relative expected performance achievement. The fair value of the performance-based awards, if earned, is recognized on a straight-line basis over the aggregate performance period and any additional required service period. For market-based awards (e.g. TSR-based awards) with specified service requirements that are equal to or longer than the market-based specification period, the fair value of the awards granted to employees is recognized over the requisite service period, regardless of whether, and to the extent to which, the market condition is ultimately satisfied. The impact of stock award forfeitures on compensation expense is recognized at the time of forfeiture as no estimate of future forfeitures is considered in our calculation of compensation expense for our service-based, performance-based or market-based awards.

Comprehensive Income and Accumulated Other Comprehensive Loss

Comprehensive income consists of net earnings and specified components of other comprehensive income (loss). Other comprehensive income (loss) includes changes in assets and liabilities that are not included in net earnings pursuant to GAAP, such as foreign currency translation adjustments between the functional and reporting currencies and certain unrealized gains (losses), if any. For us, other comprehensive income for each period presented primarily consists of the impact of the foreign currency translation of our international operations. These other comprehensive income (loss) amounts are deferred in accumulated other comprehensive loss, which is included in shareholders’ equity in our consolidated balance sheets. As of January 28, 2023, the amounts included in accumulated other comprehensive loss in our consolidated balance sheet primarily consist of the net foreign currency translation adjustment related to our Tommy Bahama operations in Canada and Australia. No material amounts of accumulated other comprehensive loss were reclassified from accumulated other comprehensive loss into our consolidated statements of operations during Fiscal 2022, Fiscal 2021 or Fiscal 2020.

Dividends

Dividends are accrued at the time declared by our Board of Directors and typically paid within the same fiscal quarter. Certain restricted share units, as described in Note 8, earn dividend equivalents which are accrued at the time of dividend declaration by the Board of Directors in accrued expenses and other liabilities, but only paid if the restricted share units are ultimately earned. Dividends accrued related to these restricted share units, which are included in accrued expenses and other current liabilities in our consolidated balance sheet, were $1 million and less than $1 million, as of January 28, 2023 and January 29, 2022, respectively.

Share Repurchases

From time to time, we may repurchase shares of our stock under an open market repurchase program or otherwise. We account for share repurchases for open market transactions by charging the excess of repurchase price over the par value entirely to retained earnings based on the trade settlement date.

Concentration of Credit Risk and Significant Customers

We are exposed to concentrations of credit risk as a result of our receivables balances, for which the total exposure is limited to the amount recognized in our consolidated balance sheets. We sell our merchandise to wholesale customers operating in a number of distribution channels in the United States and other countries. We extend credit to certain wholesale customers based on an evaluation of the customer’s credit history and financial condition, usually without requiring collateral. Credit risk is impacted by conditions or occurrences within the economy and the retail industry and is principally dependent on each customer’s financial condition. As of January 28, 2023, one customer represented 16% and another customer represented 11% of our receivables, net included in our consolidated balance sheet.

No individual customer represented greater than 10% of our consolidated net sales in Fiscal 2022, Fiscal 2021 or Fiscal 2020. However, a decision by the controlling owner of a group of stores or any significant customer to decrease the amount of merchandise purchased from us or to cease carrying our products could have an adverse effect on our results of operations in future periods.

Income Taxes

Income taxes included in our consolidated financial statements are determined using the asset and liability method. Under this method, income taxes are recognized based on amounts of income taxes payable or refundable in the current year as well as the impact of any items that are recognized in different periods for consolidated financial

statement reporting and tax return reporting purposes. Prepaid income taxes and income taxes payable are recognized in prepaid expenses and other accrued expenses and liabilities, respectively, in our consolidated balance sheets.

As certain amounts are recognized in different periods for consolidated financial statement and tax return reporting purposes, financial statement and tax bases of assets and liabilities differ, resulting in the recognition of deferred tax assets and liabilities. The deferred tax assets and liabilities reflect the estimated future tax effects attributable to these differences, as well as the impact of net operating loss, capital loss and federal and state credit carry-backs and carry-forwards, each as determined under enacted tax laws at rates expected to apply in the period in which such amounts are expected to be realized or settled. We account for the effect of changes in tax laws or rates in the period of enactment.

We recognize deferred tax assets to the extent we believe it is more likely than not that these assets will be realized. In making such a determination, we consider all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, taxable income in any carry-back years, tax-planning strategies, and recent results of operations.

Valuation allowances are established when we determine that it is more likely than not that some portion or all of a deferred tax asset will not be realized. Valuation allowances are analyzed periodically and adjusted as events occur or circumstances change that would indicate adjustments to the valuation allowances are appropriate. If we determine that we are more likely than not to realize our deferred tax assets in the future in excess of their net recorded amount, we will reduce the deferred tax asset valuation allowance, which will reduce income tax expense.

Also, we use a two-step approach for evaluating uncertain tax positions. Under the two-step method, recognition occurs when we conclude that a tax position, based solely on technical merits, is more likely than not to be sustained upon examination. The second step, measurement, is only addressed if step one has been satisfied. The tax benefit recorded is measured as the largest amount of benefit determined on a cumulative probability basis that is more likely than not to be realized upon ultimate settlement. Those tax positions failing to qualify for initial recognition are recognized in the first subsequent interim period they meet the more likely than not threshold or are resolved through settlement or litigation with the relevant taxing authority, upon expiration of the statute of limitations or otherwise. Alternatively, de-recognition of a tax position that was previously recognized occurs when we subsequently determine that a tax position no longer meets the more likely than not threshold of being sustained.

In the case of foreign subsidiaries, there are certain exceptions to the requirement that deferred tax liabilities be recognized for the difference in the financial statement and tax bases of assets. If we consider the investment to be essentially permanent in duration and the financial statement basis of the investment in a foreign subsidiary, excluding undistributed earnings, exceeds the tax basis in such investment, the deferred tax liability is not recognized. Further, deferred tax liabilities are not required to be recognized for undistributed earnings of foreign subsidiaries when we consider those earnings to be permanently reinvested outside the United States. While distributions of foreign subsidiary earnings are generally not subject to federal tax, there are other possible tax impacts, including state taxes and foreign withholding tax, that must be considered if the earnings are not considered to be permanently reinvested. Further, a gain realized upon the sale of a foreign subsidiary, if any, is not exempt from federal tax and consideration must therefore be given to the impact of differences in the book and tax basis of foreign subsidiaries not arising from earnings when determining whether a liability must be recorded if the investment is not considered permanently reinvested.

Additionally, United States tax regulations currently include certain tax provisions including a tax on global intangible low-taxed income (“GILTI”), disallowance of deductions for certain payments (the base erosion anti-abuse tax, or “BEAT”) and certain deductions enacted for certain foreign-derived intangible income (“FDII”). While the calculations for GILTI, BEAT and FDII are complex calculations, these provisions did not have a material impact on our effective tax rate in Fiscal 2022, Fiscal 2021 and Fiscal 2020. We recognize the impact of GILTI as a period cost.

On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) was signed into law, with applicable provisions reflected in our financial statements upon enactment. This law included several taxpayer favorable provisions which impacted us, including allowing the carry-back of our Fiscal 2020 net operating losses to years prior to the enactment of the United States Tax Cuts and Jobs Act in 2017 (“U.S. Tax Reform”), resulting in an increased benefit for those losses, accelerated depreciation of certain leasehold improvement costs, relaxed interest expense limitations and certain non-income tax benefits including deferral of employer FICA payments and an employee retention credit. Substantially all of the income tax receivable in our consolidated balance sheets as of January 28, 2023 and January 29, 2022 relates to the carry-back of our Fiscal 2020 net operating losses to prior years.

We file income tax returns in the United States and various state, local and foreign jurisdictions. Our federal, state, local and foreign income tax returns filed for years prior to Fiscal 2019, with limited exceptions, are no longer subject to examination by tax authorities.

Earnings (Loss) Per Share

Basic net earnings per share amounts are calculated by dividing the net earnings amount by the weighted average shares outstanding during the period. Shares repurchased, if any, are removed from the weighted average number of shares outstanding upon repurchase based on the trade settlement date.

Diluted net earnings per share amounts are calculated similarly to the amounts above, except that the weighted average shares outstanding in the diluted net earnings per share calculation also include the potential dilution using the treasury stock method that could occur if dilutive securities, including restricted share awards or other dilutive awards, were converted to shares. The treasury stock method assumes that shares are issued for any restricted share awards, options or other dilutive awards that are "in the money," and that we use the proceeds received to repurchase shares at the average market value of our shares for the respective period. For purposes of the treasury stock method, proceeds consist of future compensation expense to be recognized and any cash to be paid. Performance-based and market-based restricted share units are included in the computation of diluted shares only to the extent that the underlying performance or market conditions (1) have been satisfied as of the end of the reporting period or (2) if the measurement criteria has been satisfied and the result would be dilutive, even if the contingency period has not ended as of the end of the reporting period.

In periods that we incur a loss, we exclude restricted shares or restricted share unit awards as including the awards would be anti-dilutive. During Fiscal 2020, there were 0.4 million restricted shares and restricted share units outstanding that were excluded from the diluted earnings (loss) per share calculation. No restricted shares or restricted share units were excluded from the diluted earnings per share calculation for Fiscal 2022 or Fiscal 2021.

Reclassifications

Certain prior period amounts have been reclassified to conform to the current period presentation.

Use of Estimates

The preparation of our 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. Changes to our estimates and assumptions could have a material impact on our consolidated financial statements.

Accounting Standards Adopted in Fiscal 2022

No recently issued guidance adopted in Fiscal 2022 had a material impact on our consolidated financial statements upon adoption or is expected to have a material impact in future periods.

Recently Issued Accounting Standards Applicable to Future Years

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

Operating Groups

12 Months Ended

Jan. 28, 2023

Operating Groups

Operating Groups

Note 2. Operating Groups

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. With our acquisition of Johnny Was on September 19, 2022, our business is organized as our Tommy Bahama, Lilly Pulitzer, Johnny Was and Emerging Brands operating groups. Results for periods prior to Fiscal 2022 also include the Lanier Apparel operating group, which we exited in Fiscal 2021.

Tommy Bahama, Lilly Pulitzer and Johnny Was each design, source, market and distribute apparel and related products bearing their respective trademarks and may license their trademarks for other product categories. The Emerging Brands operating group, which was organized in Fiscal 2022, consists of the operations of our smaller, earlier stage Southern Tide, TBBC and Duck Head brands. In prior years, Southern Tide was reported as a separate operating group, while both TBBC and Duck Head were included in Corporate and Other. All prior year amounts have been restated to conform to the current year presentation.

Each of the brands included in Emerging Brands designs, sources, markets and distributes apparel and related products bearing its respective trademarks and is supported by Oxford’s emerging brands team that provides certain support functions to the smaller brands, including marketing and advertising execution, analysis and other functions. The shared resources provide for operating efficiencies and enhanced knowledge sharing across the brands.

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, any other items that are not allocated to the operating groups, including LIFO inventory accounting adjustments as our LIFO pool does not correspond to our operating group definitions, and the operations of our Lyons, Georgia distribution center and our Oxford America business, which we exited in Fiscal 2022.

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


	Fiscal		Fiscal		Fiscal
	2022		2021		2020
Net sales
Tommy Bahama	$	880,233	$	724,305	$	419,817
Lilly Pulitzer		339,266		298,995		231,078
Johnny Was ⁽¹⁾		72,591		—		—
Emerging Brands		116,484		90,053		58,200
Lanier Apparel ⁽²⁾		—		24,858		38,796
Corporate and Other		2,954		3,868		942
Consolidated net sales	$	1,411,528	$	1,142,079	$	748,833

Depreciation and amortization
Tommy Bahama	$	26,807	$	27,830	$	46,698
Lilly Pulitzer		12,784		11,678		9,965
Johnny Was ⁽¹⁾		7,199		—		—
Emerging Brands		1,582		1,298		1,175
Lanier Apparel ⁽²⁾		—		107		1,239
Corporate and Other		663		685		837
Consolidated depreciation and amortization	$	49,035	$	41,598	$	59,914

Operating income (loss)
Tommy Bahama	$	172,761	$	111,733	$	(53,310)
Lilly Pulitzer		67,098		63,601		27,702
Johnny Was ⁽¹⁾		(1,544)		—		—
Emerging Brands ⁽³⁾		15,602		16,649		(62,724)
Lanier Apparel ⁽²⁾		—		4,888		(26,654)
Corporate and Other ⁽⁴⁾		(35,143)		(31,368)		(8,863)
Consolidated operating income (loss)		218,774		165,503		(123,849)
Interest expense, net		3,049		944		2,028
Earnings (loss) before income taxes	$	215,725	$	164,559	$	(125,877)

(1)	Amount included for Johnny Was represents the post-acquisition period only.

(2)	In Fiscal 2021, we exited our Lanier Apparel business, which is discussed in more detail in Note 11.

(3)	The operating loss for Emerging Brands in Fiscal 2020 included a $60 million impairment charge for goodwill and intangible assets of Southern Tide, with no such charges in Fiscal 2022 or Fiscal 2021.

(4)

The operating loss for Corporate and Other included a LIFO accounting charge of $3 million, charge of $16 million and credit of $9 million in Fiscal 2022, Fiscal 2021 and Fiscal 2020, respectively. During Fiscal 2022 and Fiscal 2021, the operating loss for Corporate and Other also included $3 million of transaction expenses and integration costs associated with the Johnny Was acquisition and a gain on sale of an unconsolidated entity of $12 million, respectively.


	Fiscal 2022		Fiscal 2021		Fiscal 2020
Purchases of Property and Equipment
Tommy Bahama	$	17,019	$	12,887	$	19,666
Lilly Pulitzer		23,990		17,305		7,059
Johnny Was		1,655		—		—
Emerging Brands		3,176		1,405		1,708
Lanier Apparel		—		5		21
Corporate and Other		828		292		470
Purchases of Property and Equipment	$	46,668	$	31,894	$	28,924


	January 28,		January 29,
	2023		2022
Total Assets
Tommy Bahama⁽¹⁾	$	569,833	$	531,678
Lilly Pulitzer ⁽²⁾		211,119		176,757
Johnny Was⁽³⁾		334,603		—
Emerging Brands ⁽⁴⁾		91,306		66,825
Lanier Apparel⁽⁵⁾		—		207
Corporate and Other⁽⁶⁾		(18,196)		182,175
Total Assets	$	1,188,665	$	957,642

(1)	Increase in Tommy Bahama total assets includes increases in inventories, receivables and prepaid expenses partially offset by reduction in non-current assets, including operating lease assets and property and equipment.

(2)	Increase in Lilly Pulitzer total assets includes increases in inventories, property and equipment, receivables and prepaid expenses partially offset by reductions in operating lease assets.

(3)	The Johnny Was business was acquired on September 19, 2022.

(4)	Increase in Emerging Brands total assets includes increases in inventories and non-current assets, including operating lease assets and property and equipment.

(5)	Decrease in Lanier Apparel total assets is due to the exit of the Lanier Apparel business during Fiscal 2021.

(6)

Decrease in Corporate and Other total assets includes reductions in short-term investments, cash and cash equivalents, which were used to fund a portion of the acquisition purchase price for Johnny Was, and reductions in inventories, primarily due to the impact of LIFO accounting, and reductions in non-current assets, including operating lease assets.

Net book value of our property and equipment and net sales by geographic area are presented in the tables below (in thousands). The other foreign amounts primarily relate to our Tommy Bahama operations in Canada and Australia.


	January 28,		January 29,
	2023		2022
Net Book Value of Property and Equipment
United States	$	174,044	$	149,352
Other foreign		3,540		3,095
	$	177,584	$	152,447


	Fiscal 2022		Fiscal 2021		Fiscal 2020
Net Sales
United States	$	1,372,278	$	1,112,384	$	728,308
Other foreign		39,250		29,695		20,525
	$	1,411,528	$	1,142,079	$	748,833

The tables below quantify net sales, for each operating group and in total (in thousands), and the percentage of net sales by distribution channel for each operating group and in total, for each period presented, except that the amounts included for Johnny Was represent the post-acquisition period only. We have calculated all percentages below based on actual data, and percentages may not add to 100 due to rounding.


	Fiscal 2022
	Net Sales		Retail		E‑commerce		Food & Beverage		Wholesale		Other
Tommy Bahama	$	880,233	46	%	24	%	13	%	17	%	—	%
Lilly Pulitzer		339,266	33	%	51	%	—	%	16	%	—	%
Johnny Was		72,591	36	%	42	%	—	%	22	%	—	%
Emerging Brands		116,484	6	%	42	%	—	%	52	%	—	%
Lanier Apparel		—	—	%	—	%	—	%	—	%	—	%
Corporate and Other		2,954	—	%	—	%	—	%	43	%	57	%
Consolidated net sales	$	1,411,528	39	%	33	%	8	%	20	%	—	%


	Fiscal 2021
	Net Sales		Retail		E‑commerce		Food & Beverage		Wholesale		Other
Tommy Bahama	$	724,305	47	%	25	%	13	%	15	%	—	%
Lilly Pulitzer		298,995	34	%	50	%	—	%	16	%	—	%
Johnny Was		—	—	%	—	%	—	%	—	%	—	%
Emerging Brands		90,053	5	%	39	%	—	%	56	%	—	%
Lanier Apparel		24,858	—	%	—	%	—	%	100	%	—	%
Corporate and Other		3,868	—	%	—	%	—	%	61	%	39	%
Consolidated net sales	$	1,142,079	39	%	32	%	8	%	20	%	—	%


	Fiscal 2020
	Net Sales		Retail		E‑commerce		Food & Beverage		Wholesale		Other
Tommy Bahama	$	419,817	37	%	36	%	11	%	16	%	—	%
Lilly Pulitzer		231,078	20	%	64	%	—	%	16	%	—	%
Johnny Was		—	—	%	—	%	—	%	—	%	—	%
Emerging Brands		58,200	3	%	45	%	—	%	52	%	—	%
Lanier Apparel		38,796	—	%	—	%	—	%	100	%	—	%
Corporate and Other		942	—	%	—	%	—	%	—	%	100	%
Consolidated net sales	$	748,833	27	%	43	%	6	%	23	%	—	%

- 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/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Property and Equipment, Net

12 Months Ended

Jan. 28, 2023

Property and Equipment, Net

Property and Equipment, Net

Note 3. Property and Equipment, Net

Property and equipment, net, is summarized as follows (in thousands):


	January 28,		January 29,
	2023		2022
Land	$	3,090	$	3,135
Buildings and improvements		32,495		32,090
Furniture, fixtures, equipment and technology		278,589		242,759
Leasehold improvements		255,955		233,988
		570,129		511,972
Less accumulated depreciation and amortization		(392,545)		(359,525)
Property and equipment, net	$	177,584	$	152,447

Intangible Assets and Goodwill

12 Months Ended

Jan. 28, 2023

Intangible Assets and Goodwill

Intangible Assets and Goodwill

Note 4. Intangible Assets and Goodwill

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


	January 28,		January 29,
	2023		2022
Intangible assets with finite lives	$	108,513	$	51,929
Accumulated amortization and impairment		(50,068)		(44,122)
Total intangible assets with finite lives, net		58,445		7,807

Intangible assets with indefinite lives:
Tommy Bahama Trademark	$	110,700	$	110,700
Lilly Pulitzer Trademark		27,500		27,500
Johnny Was Trademark		77,900		—
Southern Tide Trademark		9,300		9,300
Total intangible assets with indefinite lives	$	225,400	$	147,500

Total intangible assets, net	$	283,845	$	155,307

Intangible assets, by operating group and in total, for Fiscal 2020, Fiscal 2021 and Fiscal 2022 are as follows (in thousands):


	Tommy		Lilly		Johnny		Emerging		Lanier		Corporate
	Bahama		Pulitzer		Was		Brands		Apparel		and Other		Total
Balance, February 1, 2020	$	110,700	$	28,741	$	—	$	35,349	$	215	$	—	$	175,005
Acquisition		—		—		—		—		—		—		—
Impairment		—		—		—		(17,500)		(207)		—		(17,707)
Amortization		—		(424)		—		(679)		(8)		—		(1,111)
Balance January 30, 2021	$	110,700	$	28,317	$	—	$	17,170	$	—	$	—	$	156,187
Acquisition		—		—		—		—		—		—		—
Impairment		—		—		—		—		—		—		—
Amortization		—		(220)		—		(660)		—		—		(880)
Balance, January 29, 2022	$	110,700	$	28,097	$	—	$	16,510	$	—	$	—	$	155,307
Acquisition		—		—		134,640		—		—		—		134,640
Impairment		—		—		—		—		—		—		—
Amortization		—		(238)		(5,194)		(670)		—		—		(6,102)
Balance, January 28, 2023	$	110,700	$	27,859	$	129,446	$	15,840	$	—	$	—	$	283,845

Based on the current estimated useful lives assigned to our intangible assets, amortization expense for each of the next five years is expected to be $15 million, $11 million, $8 million, $6 million and $4 million.

Goodwill, by operating group and in total, for Fiscal 2020, Fiscal 2021 and Fiscal 2022 is as follows (in thousands):


	Tommy		Lilly		Johnny		Emerging		Corporate
	Bahama		Pulitzer		Was		Brands		and Other		Total
Balance, February 1, 2020	$	711	$	19,522	$	—	$	46,345	$	—	$	66,578
Acquisition		—		—		—		—		—		—
Impairment		—		—		—		(42,745)		—		(42,745)
Other, including foreign currency		77		—		—		—		—		77
Balance January 30, 2021	$	788	$	19,522	$	—	$	3,600	$	—	$	23,910
Acquisition		—		—		—		—		—		—
Impairment		—		—		—		—		—		—
Other, including foreign currency		(41)		—		—		—		—		(41)
Balance, January 29, 2022	$	747	$	19,522	$	—	$	3,600	$	—	$	23,869
Acquisition		—		—		96,637		—		—		96,637
Impairment		—		—		—		—		—		—
Other, including foreign currency		(8)		—		—		—		—		(8)
Balance, January 28, 2023	$	739	$	19,522	$	96,637	$	3,600	$	—	$	120,498

No impairment was required based on our annual tests for impairment of goodwill and intangible assets with indefinite lives performed as of the first day of the Fourth Quarter of Fiscal 2022, Fiscal 2021 or Fiscal 2020. As discussed in Note 1, starting in Fiscal 2020 the COVID-19 pandemic had 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, which resulted in significant impairment charges related to Southern Tide, which is included in our Emerging Brands operating group, as shown in the tables above. Impairment of goodwill and intangible assets are included in impairment of goodwill and intangible assets in our consolidated statements of operations. No interim impairment tests were required for any other interim periods of Fiscal 2022, Fiscal 2021 or Fiscal 2020.

Debt

12 Months Ended

Jan. 28, 2023

Debt

Debt

Note 5. Debt

As of January 28, 2023 and January 29, 2022, we had $119 million and no amounts outstanding, respectively, under our $325 million Fourth Amended and Restated Credit Agreement (as amended, the “U.S. Revolving Credit Agreement”). On March 6, 2023, we amended the U.S. Revolving Credit Agreement by entering into the Second Amendment to the Fourth Amended and Restated Credit Agreement to, among other things, (1) extend the maturity of the facility from July 2024 to March 2028 and (2) modify certain provisions of the agreement. Pursuant to the amended agreement, the interest rate applicable to our borrowings under the U.S. Revolving Credit Agreement will be based on either the Secured Overnight Financing Rate plus an applicable margin of 135 to 185 basis points or prime plus an applicable margin of 35 to 85 basis points.

The U.S. Revolving Credit Agreement generally (1) is limited to a borrowing base consisting of specified percentages of eligible categories of assets, (2) accrues variable-rate interest (weighted average interest rate of 6% as of January 28, 2023), unused line fees and letter of credit fees based upon average utilization or unused availability, as applicable, (3) requires periodic interest payments with principal due at maturity and (4) is secured by a first priority security interest in substantially all of the assets of Oxford Industries, Inc. and its domestic subsidiaries, including accounts receivable, books and records, chattel paper, deposit accounts, equipment, certain general intangibles, inventory, investment property (including the equity interests of certain subsidiaries), negotiable collateral, life insurance policies, supporting obligations, commercial tort claims, cash and cash equivalents, eligible trademarks, proceeds and other personal property.

To the extent cash flow needs in the future exceed cash flow provided by our operations, we will have access, subject to its terms, to our U.S. Revolving Credit Agreement to provide funding for operating activities, as well as any capital expenditures, acquisitions, and other investing or financing activities. Our U.S. Revolving Credit Agreement may also be used to establish collateral for certain insurance programs and leases and to finance trade letters of credit for certain product purchases, which reduce the amounts available under our line of credit when issued. As of January 28, 2023, $7 million of letters of credit were outstanding under our U.S. Revolving Credit Agreement. After considering these limitations and the amount of eligible assets in our borrowing base, as applicable, as of January 28, 2023, we had $199 million in unused availability under the U.S. Revolving Credit Agreement, subject to certain limitations on borrowings.

Covenants, Other Restrictions and Prepayment Penalties

The U.S. Revolving Credit Agreement is subject to a number of affirmative covenants regarding the delivery of financial information, compliance with law, maintenance of property, insurance requirements and conduct of business. Also, the U.S. Revolving Credit Agreement is subject to certain negative covenants or other restrictions including, among other things, limitations on our ability to (1) incur debt, (2) guaranty certain obligations, (3) incur liens, (4) pay dividends to shareholders, (5) repurchase shares of our common stock, (6) make investments, (7) sell assets or stock of subsidiaries, (8) acquire assets or businesses, (9) merge or consolidate with other companies or (10) prepay, retire, repurchase or redeem debt.

Additionally, the U.S. Revolving Credit Agreement contains a financial covenant that applies only if excess availability under the agreement for three consecutive business days is less than the greater of (1) $23.5 million or (2) 10% of availability. In such case, our fixed charge coverage ratio as defined in the U.S. Revolving Credit Agreement must not be less than 1.0 to 1.0 for the immediately preceding 12 fiscal months for which financial statements have been delivered. This financial covenant continues to apply until we have maintained excess availability under the U.S. Revolving Credit Agreement of more than the greater of (1) $23.5 million or (2) 10% of availability for 30 consecutive days.

We believe that the affirmative covenants, negative covenants, financial covenants and other restrictions under the U.S. Revolving Credit Agreement are customary for those included in similar facilities entered into at the time we amended the U.S. Revolving Credit Agreement. During Fiscal 2022 and as of January 28, 2023, no financial covenant testing was required pursuant to our U.S. Revolving Credit Agreement as the minimum availability threshold was met at all times. As of January 28, 2023, we were compliant with all applicable covenants related to the U.S. Revolving Credit Agreement.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

Leases and Other Commitments

12 Months Ended

Jan. 28, 2023

Leases and Other Commitments

Leases and Other Commitments

Note 6. Leases and Other Commitments

For Fiscal 2022, operating lease expense, which includes amounts used in determining the operating lease liability and operating lease asset was $61 million and variable lease expense was $43 million, resulting in total lease expense of $104 million. For Fiscal 2021, operating lease expense, which includes amounts used in determining the operating lease liability and operating lease asset was $58 million and variable lease expense was $35 million, resulting in total lease expense of $93 million. For Fiscal 2020, operating lease expense was $64 million and variable lease expense was $30 million, resulting in total lease expense of $93 million. As of January 28, 2023 and January 29, 2022, the weighted-average remaining operating lease term was six years and five years, respectively, and the weighted-average discount rate for operating leases was 4.7% and 3.8%, respectively. Cash paid for lease amounts included in the measurement of operating lease liabilities in Fiscal 2022, Fiscal 2021 and Fiscal 2020 was $75 million, $70 million and $63 million, respectively.

As of January 28, 2023, the required lease liability payments, which include base rent amounts but excludes payments for real estate taxes, sales taxes, insurance, other operating expenses and contingent rents incurred under operating lease agreements, for the fiscal years specified below were as follows (in thousands):


	Operating lease
2023		82,744
2024		66,153
2025		50,079
2026		42,917
2027		29,762
After 2027		64,261
Total lease payments	$	335,916
Less: Difference between discounted and undiscounted lease payments		41,342
Present value of lease liabilities	$	294,574

Shareholders' Equity

12 Months Ended

Jan. 28, 2023

Shareholders' Equity

Shareholders' Equity

Note 7. Shareholders’ Equity

Common Stock

We had 60 million shares of $1.00 par value per share common stock authorized for issuance as of January 28, 2023 and January 29, 2022. As of January 28, 2023 and January 29, 2022, we had 16 million shares and 17 million shares, respectively, of common stock issued and outstanding.

Dividends

During Fiscal 2022, Fiscal 2021 and Fiscal 2020, we paid $35 million, $28 million and $17 million, respectively, of dividends to our shareholders. Although we have paid dividends in each quarter since we became a public company in July 1960, we may discontinue or modify dividend payments at any time if we determine that other uses of our capital, including payment of outstanding debt, funding of acquisitions, funding of capital expenditures or repurchases of outstanding shares, may be in our best interest; if our expectations of future cash flows and future cash needs outweigh the ability to pay a dividend; or if the terms of our credit facility, other debt instruments or applicable law limit our ability to pay dividends.

Share Repurchases

During Fiscal 2022, Fiscal 2021 and Fiscal 2020, we repurchased $92 million, $8 million and $18 million, respectively in open market transactions. Additionally, during Fiscal 2022, Fiscal 2021 and Fiscal 2020, we purchased $3 million, $3 million and $2 million, respectively, of shares from our employees to cover employee tax liabilities related to the vesting of shares of our stock.

On December 7, 2021, our Board of Directors authorized us to spend up to $150 million to repurchase shares of our stock in open market transactions. This authorization superseded and replaced all previous authorizations to repurchase shares of our stock and has no automatic expiration. Through January 28, 2023, we repurchased in open market transactions 1.1 million shares of our common stock for $100 million, an average price of $90 per share, pursuant to the Board of Directors’ December 7, 2021 authorization. As of January 28, 2023, $50 million of the authorization remained available for future repurchases of our common stock.

Preferred Stock

We had 30 million shares of $1.00 par value preferred stock authorized for issuance as of January 28, 2023 and January 29, 2022. No preferred shares were issued or outstanding as of January 28, 2023 or January 29, 2022.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Equity Compensation

12 Months Ended

Jan. 28, 2023

Equity Compensation

Equity Compensation

Note 8. Equity Compensation

Long-Term Stock Incentive Plan and Equity Compensation Expense

As of January 28, 2023, shares available for issuance under our Long-Term Stock Incentive Plan (the “Long- Term Stock Incentive Plan”) were less than 1 million shares, which includes the additional shares approved for grant under the Long-Term Stock Incentive Plan by shareholders in June 2022. The Long-Term Stock Incentive Plan allows us to grant equity-based awards to employees and non-employee directors in the form of, among other things, stock options, stock appreciation rights, restricted shares and/or restricted share units. No additional shares are available under any predecessor plans.

The specific provisions of restricted share awards are evidenced by agreements with the employee as determined by the compensation committee of our Board of Directors. Restricted shares and restricted share units granted to officers and other key employees in recent years generally vest three years from the date of grant if (1) the performance or market threshold, if any, was met and (2) the employee is still employed by us on the vesting date. The employee generally is restricted from transferring or selling any restricted shares or restricted share units and forfeits the awards upon the termination of employment prior to the end of the vesting period. The restricted share awards granted during Fiscal 2022 include certain clauses related to accelerated vesting upon the occurrence of qualifying retirement, death or disability of the employee prior to the vesting date, while the restricted share awards granted in prior years did not include such clauses.

In recent years, we have granted a combination of service-based restricted share awards and awards based on total shareholder return (“TSR”) to certain of our employees. As of January 28, 2023, there was $15 million of unrecognized compensation expense related to the unvested service-based and TSR-based restricted share awards included in the tables below, which have been granted to employees but have not yet vested. As of January 28, 2023, the weighted average remaining life of the outstanding awards was one year.

Service-Based and Performance-Based Restricted Share Awards

During Fiscal 2022, we granted service-based restricted share unit awards, while in prior years we granted service-based restricted shares. At the time that service-based restricted share unit awards are granted, the employee is generally, subject to the terms of the respective agreement, entitled to dividend equivalents, payable at the time of payment of any dividends paid on our common stock as long as the awards are outstanding, but do not have any voting rights. Whereas, at the time that service-based restricted share awards were issued, the shareholder is generally, subject to the terms of the respective agreement, entitled to the same dividend and voting rights as other holders of our common stock as long as the restricted shares are outstanding. In Fiscal 2019, we granted 42,000 performance-based awards, which were issued to employees as restricted shares in Fiscal 2020 upon satisfaction of the specified earnings per share performance requirements. At the time issued, the restricted shares still had a service requirement until the April 2022 vesting date.

The table below summarizes the service-based restricted share awards, including both restricted shares and restricted share units, and performance-based award activity for officers and other key employees during Fiscal 2022, Fiscal 2021, and Fiscal 2020 (which do not include the TSR-based Restricted Share Unit activity described below):


	Fiscal 2022			Fiscal 2021			Fiscal 2020
		Weighted-			Weighted-			Weighted-
	Number of	average		Number of	average		Number of	average
	Shares or	grant date		Shares	grant date		Shares	grant date
	Units	fair value		or Units	fair value		or Units	fair value
Awards outstanding at beginning of year	238,889	$	61	308,369	$	61	251,924	$	68
Awards granted	67,965	$	89	42,855	$	89	131,425	$	40
Performance-based awards issued related to prior year EPS-based performance awards	—	$	—	—	$	—	42,438	$	76
Awards vested, including awards repurchased from employees for employees’ tax liability	(83,324)	$	77	(81,283)	$	77	(114,003)	$	56
Awards forfeited	(10,585)	$	62	(31,052)	$	62	(3,415)	$	62
Awards outstanding at end of year	212,945	$	64	238,889	$	61	308,369	$	61

The following table summarizes information about unvested service-based restricted share awards, including both restricted shares and restricted share units, as of January 28, 2023.


	Number of	Average
	Unvested	Fair Value
	Share	on
Description	Awards	Date of Grant
Service-based restricted shares with July 2023 vesting date	111,665	$	41
Service-based restricted shares with May 2024 vesting date	35,755	$	89
Service-based restricted share units with May 2025 vesting date	65,525	$	89
Total service-based awards outstanding at end of year	212,945	$	64

Additionally, during the First Quarter of Fiscal 2023, we granted 0.1 million of service-based restricted share units, subject to the recipient remaining an employee through the May 2026 vesting date.

TSR-based Restricted Share Units

The table below summarizes the TSR-based restricted share unit activity for officers and other key employees (in units) during Fiscal 2022, Fiscal 2021, and Fiscal 2020:


	Fiscal 2022			Fiscal 2021			Fiscal 2020
		Weighted-			Weighted-			Weighted-
		average			average			average
	Number of	grant date		Number of	grant date		Number of	grant date
	Share Units	fair value		Share Units	fair value		Share Units	fair value
TSR-based awards outstanding at beginning of year	130,440	$	78	83,345	$	50	—	$	—
TSR-based awards granted	66,525	$	111	56,750	$	117	83,345	$	50
TSR-based awards forfeited	(925)	$	115	(9,655)	$	68	—	$	—
TSR-based awards outstanding at end of year	196,040	$	89	130,440	$	78	83,345	$	50

The restricted share units granted in the table above are at target. The TSR-based restricted share units are subject to (1) our achievement of a specified TSR-based ranking by us relative to a comparator group during a period of approximately three years from the date of grant and (2) generally the recipient remaining an employee through the vesting date which is approximately three years from the date of grant. The number of shares ultimately earned, which will be settled in shares of our common stock on the vesting date, will be between 0% and 200% of the restricted share units at target. These TSR-based restricted share units are entitled to dividend equivalents for dividends declared on our common stock prior to the vesting date, which are payable after vesting of the restricted shares, solely for the number of shares ultimately earned. These TSR-based restricted share units do not have any voting rights prior to the vesting date.

The following table summarizes information about unvested TSR-based restricted share units as of January 28, 2023.



	Unvested		Fair Value
	TSR-Based	on
Description	Share/Unit	Date of Grant
TSR-based restricted share units (at target) with July 2023 vesting date	76,340	$	50
TSR-based restricted share units (at target) with May 2024 vesting date	53,500	$	117
TSR-based restricted share units (at target) with May 2025 vesting date	66,200	$	111
Total TSR-based restricted share units outstanding at end of year	196,040	$	89

Additionally, during the First Quarter of Fiscal 2023, we granted 0.1 million of TSR-based restricted share units at target, subject to (1) our achievement of a specified TSR-based ranking by Oxford relative to a comparator group during a period of approximately three years from the date of grant and (2) the recipient remaining an employee through the May 2026 vesting date. The number of shares ultimately earned will be between 0% and 200% of the restricted share units at target.

Director Share Awards

In addition to shares granted to employees, we grant restricted share awards to our non-employee directors for a portion of each non-employee director’s annual compensation. The non-employee directors must complete certain service requirements; otherwise, the restricted shares are subject to forfeiture. On the date of issuance, the non-employee directors are entitled to the same dividend and voting rights as other holders of our common stock. The non-employee directors are restricted from transferring or selling the restricted shares prior to the end of the vesting period.

Employee Stock Purchase Plan

There were less than 1 million shares of our common stock authorized for issuance under our Employee Stock Purchase Plan ("ESPP") as of January 28, 2023. The ESPP allows qualified employees to purchase shares of our common stock on a quarterly basis, based on certain limitations, through payroll deductions. The shares purchased pursuant to the ESPP are not subject to any vesting or other restrictions. On the last day of each calendar quarter, the accumulated payroll deductions are applied toward the purchase of our common stock at a price equal to 85% of the closing market price on that date. Equity compensation expense related to the employee stock purchase plan recognized was less than $1 million in each of Fiscal 2022, Fiscal 2021 and Fiscal 2020.

Defined Contribution Plans

12 Months Ended

Jan. 28, 2023

Defined Contribution Plans

Defined Contribution Plans

Note 9. Defined Contribution Plans

We have a tax-qualified voluntary defined contribution retirement savings plan covering substantially all United States employees. If an eligible participant elects to contribute, a portion of the contribution may be matched by us. Additionally, we incur certain charges related to our non-qualified deferred compensation plan as discussed in Note 1. Our aggregate expense under these defined contribution and non-qualified deferred compensation plans in Fiscal 2022,

Fiscal 2021 and Fiscal 2020 was $5 million, $4 million and $1 million, respectively. The increase in Fiscal 2022 was primarily due to an increase in the company match percentage for our defined contribution plan. The lower amount in Fiscal 2020 was primarily due to the suspension of the company match for our defined contribution plan during Fiscal 2020 to reduce our expenses during the COVID-19 pandemic.

Income Taxes

12 Months Ended

Jan. 28, 2023

Income Taxes

Income Taxes

Note 10. Income Taxes

The following table summarizes our distribution between domestic and foreign earnings (loss) before income taxes and the provision (benefit) for income taxes (in thousands):


	Fiscal		Fiscal		Fiscal
	2022		2021		2020
Earnings (loss) before income taxes:
Domestic	$	206,944	$	161,233	$	(129,129)
Foreign		8,781		3,326		3,252
Earnings (loss) before income taxes	$	215,725	$	164,559	$	(125,877)

Income taxes:
Current:
Federal	$	41,776	$	24,998	$	(11,498)
State		8,835		3,780		(1,060)
Foreign		1,191		409		735
		51,802		29,187		(11,823)
Deferred—Domestic		71		4,155		(17,780)
Deferred—Foreign		(1,883)		(104)		(582)
Income taxes	$	49,990	$	33,238	$	(30,185)

Reconciliations of the United States federal statutory income tax rates and our effective tax rates are summarized as follows:


	Fiscal		Fiscal		Fiscal
	2022		2021		2020
Statutory federal income tax rate	21.0	%	21.0	%	21.0	%
State income taxes—net of federal income tax benefit	3.6	%	3.7	%	3.6	%
Impact of foreign operations rate differential	0.1	%	0.1	%	(0.2)	%
Impairment of non-deductible Southern Tide goodwill	—	%	—	%	(3.7)	%
Change in reserve for uncertain tax positions	0.2	%	(1.0)	%	(2.5)	%
Rate benefit from NOL carry-back to pre-U.S. Tax Reform periods due to the CARES Act	—	%	—	%	5.5	%
Impact of valuation allowances related to operating losses	(1.6)	%	(0.8)	%	(0.9)	%
Impact of valuation allowances related to capital losses	—	%	1.2	%	—	%
Impact of capital losses	—	%	(2.9)	%	—	%
Other, net	(0.1)	%	(1.1)	%	1.2	%
Effective tax rate for continuing operations	23.2	%	20.2	%	24.0	%

Deferred tax assets and liabilities included in our consolidated balance sheets are comprised of the following (in thousands):


	January 28,		January 29,
	2023		2022
Deferred Tax Assets:
Inventories	$	20,561	$	16,947
Accrued compensation and benefits		9,637		9,058
Receivable allowances and reserves		2,580		2,814
Operating lease liabilities		71,871		59,711
Operating loss and other carry-forwards		757		3,675
Other, net		4,901		3,529
Deferred tax assets		110,307		95,734
Deferred Tax Liabilities:
Operating lease assets		(66,145)		(51,909)
Depreciation and amortization		(15,289)		(12,427)
Acquired intangible assets		(26,030)		(26,792)
Deferred tax liabilities		(107,464)		(91,128)
Valuation allowance		(2,448)		(6,050)
Net deferred tax asset (liability)	$	395	$	(1,444)

The majority of our valuation allowance of $2 million as of January 28, 2023 relate to our capital loss carry-forwards. As of January 29, 2022, the majority of our valuation allowance of $6 million related to operating loss carry-forwards and deferred tax assets in the jurisdictions with operating losses as well as our capital loss carry-forwards. The positive operating results in Fiscal 2022, as well as the positive net earnings in the most recent three-year cumulative period, are considered significant positive evidence about the realizability of our operating loss carry-forwards in certain jurisdictions, and in Fiscal 2022 resulted in the utilization or reversal of the substantial majority of our valuation allowances related to our operating loss carry-forward amounts. The short carry-forward period for the capital losses, which can only offset qualifying capital gain income, continue to be considered significant negative evidence against the future realizability of these capital loss tax benefits. The amount of the valuation allowance could change in the future if our operating results or estimates of future taxable operating results changes.

Certain amounts of foreign earnings are subject to U.S. federal tax currently pursuant to the GILTI rules regardless of whether those earnings are distributed, and actual distributions of foreign earnings are generally no longer subject to U.S. federal tax. We continue to assert that our investments in substantially all of our foreign subsidiaries and substantially all of the related earnings are permanently reinvested outside the United States. We believe that any other taxes such as foreign withholding or U.S. state tax payable would be immaterial if we were to repatriate the foreign earnings. Therefore, we have not recorded any deferred tax liabilities related to these foreign investments and earnings in our consolidated balance sheets as of January 28, 2023 and January 29, 2022.

Accounting for income taxes requires that we offset deferred tax liabilities and assets within each tax jurisdiction and present the net deferred tax amount for each jurisdiction as a net deferred tax amount in our consolidated balance sheets. The amounts of deferred income taxes included in our consolidated balance sheets are as follows (in thousands):


	January 28,		January 29,
	2023		2022
Assets:
Deferred tax assets	$	3,376	$	1,467
Liabilities:
Deferred tax liabilities		(2,981)		(2,911)
Net deferred tax asset (liability)	$	395	$	(1,444)

A reconciliation of the changes in the gross amount of unrecognized tax benefits, which are included in other non-current liabilities, is as follows (in thousands):


	Fiscal 2022		Fiscal 2021		Fiscal 2020
Balance of unrecognized tax benefits at beginning of year	$	3,390	$	5,261	$	1,212
Increase related to prior period tax positions		110		10		303
Decrease related to prior period tax positions		—		—		(1)
Increase related to current period tax positions		646		527		3,960
Decrease related to settlements with taxing authorities		—		(2,305)		—
Decrease related to lapse of statute of limitations		(482)		(103)		(213)
Balance of unrecognized tax benefits at end of year	$	3,664	$	3,390	$	5,261

Approximately $1 million of our uncertain tax positions as of January 28, 2023, if recognized, would reduce the future effective tax rate in the period settled. The total amount of unrecognized tax benefits relating to our tax positions is subject to change based on future events including, but not limited to, settlements of ongoing audits and assessments and the expiration of applicable statutes of limitation. We expect that the balance of the gross unrecognized tax benefits may decrease during Fiscal 2023. However, the ultimate occurrence, outcomes, and timing of such events could differ from our current expectations. Interest and penalties associated with unrecognized tax positions are recorded within income tax expense in our consolidated statements of operations. During each of Fiscal 2022, Fiscal 2021 and Fiscal 2020, we recognized less than $1 million of interest and penalties associated with unrecognized tax positions in our consolidated statements of operations.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

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+ Details

Lanier Apparel Exit

12 Months Ended

Jan. 28, 2023

Lanier Apparel Exit

Lanier Apparel Exit

Note 11. Lanier Apparel Exit

In Fiscal 2021, we exited our Lanier Apparel business, which had been focused on moderately priced tailored clothing and related products. The Lanier Apparel exit aligns with our stated business strategy of developing and marketing compelling lifestyle brands. It also took into consideration the increased macroeconomic challenges faced by the Lanier Apparel business, many of which were magnified by the COVID-19 pandemic.

In connection with the Fiscal 2020 decision to exit the Lanier Apparel business, we recorded pre-tax charges of $13 million in the Lanier Apparel operating group during Fiscal 2020. These charges consisted of (1) $6 million of estimated inventory markdown charges, the substantial majority of which were reversed in Corporate and Other as part of LIFO accounting as the inventory had not been sold as of January 30, 2021, (2) $3 million of employee charges, including severance and employee retention costs, (3) $3 million of operating lease asset impairment charges for leased office space, (4) $1 million of non-cash fixed asset impairment charges, primarily related to leasehold improvements, and (5) $1 million of charges related to our Merida manufacturing facility, which ceased operations in Fiscal 2020.

During Fiscal 2021, we recognized in the Lanier Apparel operating group a benefit of $2 million related to the Lanier Apparel exit primarily consisting of (1) $4 million of reductions in inventory markdowns previously recognized, of which the substantial majority of this amount was reversed in Corporate and Other as part of LIFO accounting and (2) a $3 million gain on the sale of Lanier Apparel’s Toccoa, Georgia distribution center. These items were partially offset by (1) $2 million of severance and employee retention costs, (2) $2 million of termination charges related to certain license agreements and (3) $1 million of additional charges related to the Merida manufacturing facility.

For each of Fiscal 2021 and Fiscal 2020, the estimated inventory markdown charges and manufacturing facility charges are included in cost of goods sold in Lanier Apparel, while the charges for operating lease asset impairments, employee charges, and fixed asset impairments are included in SG&A in Lanier Apparel. The gain on sale of the Toccoa, Georgia distribution center in Fiscal 2021 is included in royalties and other income in Lanier Apparel.

We do not expect to incur any additional Lanier Apparel exit charges. Substantially all of the cumulative accrued employee charges, termination charges related to contractual commitments and charges related to the Merida

manufacturing facility have been paid. As of January 28, 2023, future lease amounts totaling $2 million related to the Lanier Apparel office leases that were previously impaired and vacated are expected to be paid through 2024 over the remaining terms of the respective leases, with no other anticipated significant future cash requirements related to the Lanier Apparel business.

Business Combinations

12 Months Ended

Jan. 28, 2023

Business Combinations

Business Combinations

Note 12. Business Combinations

On September 19, 2022, we acquired 100% of the ownership interests in JW Holdings, LLC and its subsidiaries (collectively “Johnny Was”). Johnny Was owns the Johnny Was California lifestyle brand and its related operations including the design, sourcing, marketing and distribution of collections of affordable luxury, artisan-inspired bohemian apparel, accessories and home goods. Johnny Was products are sold through the Johnny Was website and retail stores as well as select department stores and specialty stores. We believe that the acquisition of Johnny Was further advances our strategic goal of owning a diversified portfolio of lifestyle brands and provides future growth opportunities for our business. Information about the operating results of Johnny Was for the 19 week period from the acquisition date through the end of the fiscal year are included in the operating group information included in Note 2.

This acquisition was accounted for under the acquisition method of accounting for business combinations. The preliminary purchase price for the acquisition of Johnny Was totaled $270 million in cash, subject to adjustment based on net working capital as of the closing date of the acquisition. After giving effect to the estimated working capital adjustment, the purchase price paid at closing was $271 million, including acquired cash of $7 million. We used cash and short-term investments on hand and borrowings under our U.S. Revolving Credit Agreement to fund the transaction. As of January 28, 2023, we have accrued an additional $2 million as an estimate of the finalization of the working capital estimate, which we anticipate finalizing and paying during Fiscal 2023. There are no contingent consideration arrangements associated with this transaction. Transaction and integration costs related to this acquisition, which primarily consist of representation and warranty insurance, integration costs, due diligence costs, legal fees and other costs, totaled approximately $3 million and are included in SG&A in our consolidated statements of operations in Fiscal 2022. These costs are included in Corporate and Other in the financial information included in Note 2.

Our allocation of the purchase price to the estimated fair values of the acquired assets and liabilities, including intangible assets, customer relationships, operating lease amounts, property and equipment, working capital amounts, liabilities and other amounts, is preliminary as of January 28, 2023. Our estimates of the allocation of preliminary purchase price will be revised during the one year allocation period, as appropriate, as we obtain additional information about the fair values of these acquired assets and liabilities and finalize our valuation estimates. Changes in future periods to the preliminary amounts allocated to the various acquired assets and liabilities could be material. The following table summarizes our preliminary allocation of the purchase price for the Johnny Was acquisition (in thousands):


	Johnny Was acquisition
Cash and cash equivalents	$	7,296
Receivables		8,777
Inventories ⁽¹⁾		23,434
Prepaid expenses and other assets		6,353
Property and equipment		21,108
Intangible assets		134,640
Goodwill		96,637
Operating lease assets		54,859
Accounts payable, accrued expenses and other liabilities		(34,777)
Non-current portion of operating lease liabilities		(47,009)
Purchase price	$	271,318

(1)

Includes an estimate for the step-up of acquired inventory from cost to fair value of $4 million pursuant to the purchase method of accounting, which was recognized in our consolidated statement of operations in Fiscal 2022 as acquired inventory was sold.

Goodwill represents the amount by which the cost to acquire Johnny Was exceeds the fair value of individual acquired assets less liabilities of the business at acquisition. We acquired tradenames and trademarks as well as customer relationships as part of the acquisition. We used the relief from royalty method to estimate the fair value of trademarks and tradenames and the multi-period excess earnings method under the income approach to estimate the fair value of customer relationships. Intangible assets allocated in connection with our preliminary purchase price allocation consisted of the following (in thousands):


		Johnny Was
	Useful life	acquisition
Finite lived intangible assets acquired, primarily consisting of customer relationships	8 - 13 years	$	56,740
Trade names and trademarks	Indefinite		77,900
		$	134,640

The consolidated pro forma information presented below (in thousands, except per share data) gives effect to the September 19, 2022 acquisition of Johnny Was as if the acquisition had occurred as of the beginning of Fiscal 2021. The information presented below is for illustrative purposes only, is not indicative of results that would have been achieved if the acquisition had occurred as of the beginning of Fiscal 2021 and is not intended to be a projection of future results of operations. The consolidated pro forma information has been prepared from historical financial statements for Johnny Was and us for the periods presented, including without limitation, purchase accounting adjustments, but excluding any seller specific management/advisory or similar expenses and any synergies or operating cost reductions that may be achieved from the combined operations in the future.


	Fiscal 2022		Fiscal 2021
Net sales	$	1,546,371	$	1,327,875
Earnings before income taxes	$	237,919	$	169,832
Net earnings	$	182,380	$	135,276
Earnings per share:
Basic	$	11.47	$	8.02
Diluted	$	11.22	$	8.13

The Fiscal 2022 pro forma information above includes amortization of acquired intangible assets, but excludes the transaction expenses and integration costs associated with the transaction and the $4 million of incremental cost of goods sold associated with the step-up of inventory at acquisition that was recognized by us in our Fiscal 2022 consolidated statement of operations. The Fiscal 2021 pro forma information above includes amortization of acquired intangible assets, transaction expenses and integration costs associated with the transaction and the $4 million of

incremental cost of goods sold associated with the step-up of inventory at acquisition. Additionally, the pro forma adjustments for each period prior to the September 2022 acquisition reflect an estimate of incremental interest expense associated with additional borrowings and income tax expense that would have been incurred subsequent to the acquisition.

SCHEDULE II Valuation and Qualifying Accounts

12 Months Ended

Jan. 28, 2023

SCHEDULE II Valuation and Qualifying Accounts

SCHEDULE II Valuation and Qualifying Accounts

SCHEDULE II

Oxford Industries, Inc.

Valuation and Qualifying Accounts


Column A	Column B		Column C					Column D			Column E
			Additions		Charged
	Balance at		Charged to		to Other			Deductions			Balance at
	Beginning		Costs and		Accounts–			–			End of
Description	of Period		Expenses		Describe			Describe			Period

	(In thousands)
Fiscal 2022
Deducted from asset accounts:
Accounts receivable reserves ⁽¹⁾	$	3,412	$	2,868	$	541	⁽³⁾	$	(2,789)	⁽⁴⁾	$	4,032
Provision for credit losses ⁽²⁾	$	1,311	$	(262)	$	200	⁽³⁾	$	(19)	⁽⁵⁾	$	1,230
Fiscal 2021
Deducted from asset accounts:
Accounts receivable reserves ⁽¹⁾	$	6,418	$	(1,140)	$	—		$	(1,866)	⁽⁴⁾	$	3,412
Provision for credit losses ⁽²⁾	$	2,580	$	(1,190)	$	—		$	(79)	⁽⁵⁾	$	1,311
Fiscal 2020
Deducted from asset accounts:
Accounts receivable reserves ⁽¹⁾	$	8,766	$	5,629	$	—		$	(7,977)	⁽⁴⁾	$	6,418
Provision for credit losses ⁽²⁾	$	555	$	4,052	$	—		$	(2,027)	⁽⁵⁾	$	2,580

(1)	Accounts receivable reserves includes estimated reserves for allowances, returns and discounts related to our wholesale operations as discussed in our significant accounting policy disclosure for "Revenue Recognition and Receivables" in Note 1 of our consolidated financial statements.

(2)	Provision for credit losses consists of amounts reserved for our estimate of a wholesale customer’s inability to meet its financial obligations as discussed in our significant accounting policy disclosure for "Revenue Recognition and Receivables" in Note 1 of our consolidated financial statements.

(3)	Addition due to the acquisition of Johnny Was in September 2022.

(4)	Principally consists of amounts written off related to customer allowances, returns and discounts.

(5)	Principally consists of accounts written off as uncollectible.

Business and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Jan. 28, 2023

Basis of Presentation

Fiscal Year

Principles of Consolidation

Business Combinations

Revenue Recognition and Receivables


	Fiscal		Fiscal		Fiscal
	2022		2021		2020
Retail	$	552,696	$	443,015	$	202,071
E-commerce		465,446		369,300		323,900
Food & beverage		109,225		96,244		48,428
Wholesale		281,938		231,536		173,209
Other		2,223		1,984		1,225
Net sales	$	1,411,528	$	1,142,079	$	748,833

Cost of Goods Sold

Our gross profit and gross margin may not be directly comparable to those of our competitors, as statement of operations classifications of certain expenses may vary by company.

SG&A

Cash and Cash Equivalents

Supplemental Cash Flow Information

Short -Term Investments and Equity Investments in Unconsolidated Entities

Short-Term Investments

Equity Investments in Unconsolidated Entities

Inventories, net

Substantially all of our inventories are finished goods inventories of apparel, accessories and other related products. Inventories are valued at the lower of cost or market.

Property and Equipment, net


Leasehold improvements		Lesser of remaining life of the asset or lease term
Furniture, fixtures, equipment and technology		2 – 15 years
Buildings and improvements		7 – 40 years

Intangible Assets and Goodwill

Any costs associated with extending or renewing recognized intangible assets are generally expensed as incurred.

Prepaid Expenses and Other Non-Current Assets, net

Deferred Compensation

Impairment of Long-Lived Assets, other than Goodwill and Intangible Assets with Indefinite Lives

Accounts Payable, Accrued Compensation and Accrued Expenses and Other Liabilities

Legal and Other Contingencies

Other Non-current Liabilities

Amounts included in other non-current liabilities primarily consist of deferred compensation amounts and amounts related to uncertain tax positions.

Leases

value guarantees or material restrictive financial covenants. Substantially all of our leases are classified as long-term operating leases.

Foreign Currency

Interest Rate Risk

Fair Value Measurements

Equity Compensation

Comprehensive Income and Accumulated Other Comprehensive Loss

Dividends

Share Repurchases

Concentration of Credit Risk and Significant Customers

Income Taxes

Earnings (Loss) Per Share

Reclassifications

Certain prior period amounts have been reclassified to conform to the current period presentation.

Use of Estimates

Accounting Standards Adopted in Fiscal 2022 and Recently Issued Accounting Standards Applicable to Future Periods

Accounting Standards Adopted in Fiscal 2022

No recently issued guidance adopted in Fiscal 2022 had a material impact on our consolidated financial statements upon adoption or is expected to have a material impact in future periods.

Recently Issued Accounting Standards Applicable to Future Years

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

Business and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jan. 28, 2023

Basis of Presentation

Schedule of net sales by distribution channel

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


	Fiscal		Fiscal		Fiscal
	2022		2021		2020
Retail	$	552,696	$	443,015	$	202,071
E-commerce		465,446		369,300		323,900
Food & beverage		109,225		96,244		48,428
Wholesale		281,938		231,536		173,209
Other		2,223		1,984		1,225
Net sales	$	1,411,528	$	1,142,079	$	748,833

Schedule of estimated useful lives of the assets


Leasehold improvements		Lesser of remaining life of the asset or lease term
Furniture, fixtures, equipment and technology		2 – 15 years
Buildings and improvements		7 – 40 years

Operating Groups (Tables)

12 Months Ended

Jan. 28, 2023

Operating Groups

Schedule of financial information by operating group

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


	Fiscal		Fiscal		Fiscal
	2022		2021		2020
Net sales
Tommy Bahama	$	880,233	$	724,305	$	419,817
Lilly Pulitzer		339,266		298,995		231,078
Johnny Was ⁽¹⁾		72,591		—		—
Emerging Brands		116,484		90,053		58,200
Lanier Apparel ⁽²⁾		—		24,858		38,796
Corporate and Other		2,954		3,868		942
Consolidated net sales	$	1,411,528	$	1,142,079	$	748,833

Depreciation and amortization
Tommy Bahama	$	26,807	$	27,830	$	46,698
Lilly Pulitzer		12,784		11,678		9,965
Johnny Was ⁽¹⁾		7,199		—		—
Emerging Brands		1,582		1,298		1,175
Lanier Apparel ⁽²⁾		—		107		1,239
Corporate and Other		663		685		837
Consolidated depreciation and amortization	$	49,035	$	41,598	$	59,914

Operating income (loss)
Tommy Bahama	$	172,761	$	111,733	$	(53,310)
Lilly Pulitzer		67,098		63,601		27,702
Johnny Was ⁽¹⁾		(1,544)		—		—
Emerging Brands ⁽³⁾		15,602		16,649		(62,724)
Lanier Apparel ⁽²⁾		—		4,888		(26,654)
Corporate and Other ⁽⁴⁾		(35,143)		(31,368)		(8,863)
Consolidated operating income (loss)		218,774		165,503		(123,849)
Interest expense, net		3,049		944		2,028
Earnings (loss) before income taxes	$	215,725	$	164,559	$	(125,877)

(1)	Amount included for Johnny Was represents the post-acquisition period only.

(2)	In Fiscal 2021, we exited our Lanier Apparel business, which is discussed in more detail in Note 11.

(3)	The operating loss for Emerging Brands in Fiscal 2020 included a $60 million impairment charge for goodwill and intangible assets of Southern Tide, with no such charges in Fiscal 2022 or Fiscal 2021.

(4)


	Fiscal 2022		Fiscal 2021		Fiscal 2020
Purchases of Property and Equipment
Tommy Bahama	$	17,019	$	12,887	$	19,666
Lilly Pulitzer		23,990		17,305		7,059
Johnny Was		1,655		—		—
Emerging Brands		3,176		1,405		1,708
Lanier Apparel		—		5		21
Corporate and Other		828		292		470
Purchases of Property and Equipment	$	46,668	$	31,894	$	28,924


	January 28,		January 29,
	2023		2022
Total Assets
Tommy Bahama⁽¹⁾	$	569,833	$	531,678
Lilly Pulitzer ⁽²⁾		211,119		176,757
Johnny Was⁽³⁾		334,603		—
Emerging Brands ⁽⁴⁾		91,306		66,825
Lanier Apparel⁽⁵⁾		—		207
Corporate and Other⁽⁶⁾		(18,196)		182,175
Total Assets	$	1,188,665	$	957,642

(1)	Increase in Tommy Bahama total assets includes increases in inventories, receivables and prepaid expenses partially offset by reduction in non-current assets, including operating lease assets and property and equipment.

(2)	Increase in Lilly Pulitzer total assets includes increases in inventories, property and equipment, receivables and prepaid expenses partially offset by reductions in operating lease assets.

(3)	The Johnny Was business was acquired on September 19, 2022.

(4)	Increase in Emerging Brands total assets includes increases in inventories and non-current assets, including operating lease assets and property and equipment.

(5)	Decrease in Lanier Apparel total assets is due to the exit of the Lanier Apparel business during Fiscal 2021.

(6)

Schedule of net book value of property and equipment by geographic area

Net book value of our property and equipment and net sales by geographic area are presented in the tables below (in thousands).


	January 28,		January 29,
	2023		2022
Net Book Value of Property and Equipment
United States	$	174,044	$	149,352
Other foreign		3,540		3,095
	$	177,584	$	152,447

Schedule of net sales by geographic area

Net book value of our property and equipment and net sales by geographic area are presented in the tables below (in thousands).


	Fiscal 2022		Fiscal 2021		Fiscal 2020
Net Sales
United States	$	1,372,278	$	1,112,384	$	728,308
Other foreign		39,250		29,695		20,525
	$	1,411,528	$	1,142,079	$	748,833

Schedule of net sales by operating group


	Fiscal 2022
	Net Sales		Retail		E‑commerce		Food & Beverage		Wholesale		Other
Tommy Bahama	$	880,233	46	%	24	%	13	%	17	%	—	%
Lilly Pulitzer		339,266	33	%	51	%	—	%	16	%	—	%
Johnny Was		72,591	36	%	42	%	—	%	22	%	—	%
Emerging Brands		116,484	6	%	42	%	—	%	52	%	—	%
Lanier Apparel		—	—	%	—	%	—	%	—	%	—	%
Corporate and Other		2,954	—	%	—	%	—	%	43	%	57	%
Consolidated net sales	$	1,411,528	39	%	33	%	8	%	20	%	—	%


	Fiscal 2021
	Net Sales		Retail		E‑commerce		Food & Beverage		Wholesale		Other
Tommy Bahama	$	724,305	47	%	25	%	13	%	15	%	—	%
Lilly Pulitzer		298,995	34	%	50	%	—	%	16	%	—	%
Johnny Was		—	—	%	—	%	—	%	—	%	—	%
Emerging Brands		90,053	5	%	39	%	—	%	56	%	—	%
Lanier Apparel		24,858	—	%	—	%	—	%	100	%	—	%
Corporate and Other		3,868	—	%	—	%	—	%	61	%	39	%
Consolidated net sales	$	1,142,079	39	%	32	%	8	%	20	%	—	%


	Fiscal 2020
	Net Sales		Retail		E‑commerce		Food & Beverage		Wholesale		Other
Tommy Bahama	$	419,817	37	%	36	%	11	%	16	%	—	%
Lilly Pulitzer		231,078	20	%	64	%	—	%	16	%	—	%
Johnny Was		—	—	%	—	%	—	%	—	%	—	%
Emerging Brands		58,200	3	%	45	%	—	%	52	%	—	%
Lanier Apparel		38,796	—	%	—	%	—	%	100	%	—	%
Corporate and Other		942	—	%	—	%	—	%	—	%	100	%
Consolidated net sales	$	748,833	27	%	43	%	6	%	23	%	—	%

Property and Equipment, Net (Tables)

12 Months Ended

Jan. 28, 2023

Property and Equipment, Net

Schedule of components of property and equipment

Property and equipment, net, is summarized as follows (in thousands):


	January 28,		January 29,
	2023		2022
Land	$	3,090	$	3,135
Buildings and improvements		32,495		32,090
Furniture, fixtures, equipment and technology		278,589		242,759
Leasehold improvements		255,955		233,988
		570,129		511,972
Less accumulated depreciation and amortization		(392,545)		(359,525)
Property and equipment, net	$	177,584	$	152,447

Intangible Assets and Goodwill (Tables)

12 Months Ended

Jan. 28, 2023

Intangible Assets and Goodwill

Summary of finite-lived intangible assets by category

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


	January 28,		January 29,
	2023		2022
Intangible assets with finite lives	$	108,513	$	51,929
Accumulated amortization and impairment		(50,068)		(44,122)
Total intangible assets with finite lives, net		58,445		7,807

Intangible assets with indefinite lives:
Tommy Bahama Trademark	$	110,700	$	110,700
Lilly Pulitzer Trademark		27,500		27,500
Johnny Was Trademark		77,900		—
Southern Tide Trademark		9,300		9,300
Total intangible assets with indefinite lives	$	225,400	$	147,500

Total intangible assets, net	$	283,845	$	155,307

Summary of indefinite-lived intangible assets by category

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


	January 28,		January 29,
	2023		2022
Intangible assets with finite lives	$	108,513	$	51,929
Accumulated amortization and impairment		(50,068)		(44,122)
Total intangible assets with finite lives, net		58,445		7,807

Intangible assets with indefinite lives:
Tommy Bahama Trademark	$	110,700	$	110,700
Lilly Pulitzer Trademark		27,500		27,500
Johnny Was Trademark		77,900		—
Southern Tide Trademark		9,300		9,300
Total intangible assets with indefinite lives	$	225,400	$	147,500

Total intangible assets, net	$	283,845	$	155,307

Schedule of intangible assets by operating group and in total

Intangible assets, by operating group and in total, for Fiscal 2020, Fiscal 2021 and Fiscal 2022 are as follows (in thousands):


	Tommy		Lilly		Johnny		Emerging		Lanier		Corporate
	Bahama		Pulitzer		Was		Brands		Apparel		and Other		Total
Balance, February 1, 2020	$	110,700	$	28,741	$	—	$	35,349	$	215	$	—	$	175,005
Acquisition		—		—		—		—		—		—		—
Impairment		—		—		—		(17,500)		(207)		—		(17,707)
Amortization		—		(424)		—		(679)		(8)		—		(1,111)
Balance January 30, 2021	$	110,700	$	28,317	$	—	$	17,170	$	—	$	—	$	156,187
Acquisition		—		—		—		—		—		—		—
Impairment		—		—		—		—		—		—		—
Amortization		—		(220)		—		(660)		—		—		(880)
Balance, January 29, 2022	$	110,700	$	28,097	$	—	$	16,510	$	—	$	—	$	155,307
Acquisition		—		—		134,640		—		—		—		134,640
Impairment		—		—		—		—		—		—		—
Amortization		—		(238)		(5,194)		(670)		—		—		(6,102)
Balance, January 28, 2023	$	110,700	$	27,859	$	129,446	$	15,840	$	—	$	—	$	283,845

Schedule of goodwill by operating group and in total

Goodwill, by operating group and in total, for Fiscal 2020, Fiscal 2021 and Fiscal 2022 is as follows (in thousands):


	Tommy		Lilly		Johnny		Emerging		Corporate
	Bahama		Pulitzer		Was		Brands		and Other		Total
Balance, February 1, 2020	$	711	$	19,522	$	—	$	46,345	$	—	$	66,578
Acquisition		—		—		—		—		—		—
Impairment		—		—		—		(42,745)		—		(42,745)
Other, including foreign currency		77		—		—		—		—		77
Balance January 30, 2021	$	788	$	19,522	$	—	$	3,600	$	—	$	23,910
Acquisition		—		—		—		—		—		—
Impairment		—		—		—		—		—		—
Other, including foreign currency		(41)		—		—		—		—		(41)
Balance, January 29, 2022	$	747	$	19,522	$	—	$	3,600	$	—	$	23,869
Acquisition		—		—		96,637		—		—		96,637
Impairment		—		—		—		—		—		—
Other, including foreign currency		(8)		—		—		—		—		(8)
Balance, January 28, 2023	$	739	$	19,522	$	96,637	$	3,600	$	—	$	120,498

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 2
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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-URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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-Section 50
-Paragraph 1
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

Leases and Other Commitments (Tables)

12 Months Ended

Jan. 28, 2023

Leases and Other Commitments

Schedule of lease liability payments


	Operating lease
2023		82,744
2024		66,153
2025		50,079
2026		42,917
2027		29,762
After 2027		64,261
Total lease payments	$	335,916
Less: Difference between discounted and undiscounted lease payments		41,342
Present value of lease liabilities	$	294,574

Equity Compensation (Tables)

12 Months Ended

Jan. 28, 2023

Restricted shares and restricted share units, excluding TSR-based restricted share units

Equity Compensation

Summary of award activity


	Fiscal 2022			Fiscal 2021			Fiscal 2020
		Weighted-			Weighted-			Weighted-
	Number of	average		Number of	average		Number of	average
	Shares or	grant date		Shares	grant date		Shares	grant date
	Units	fair value		or Units	fair value		or Units	fair value
Awards outstanding at beginning of year	238,889	$	61	308,369	$	61	251,924	$	68
Awards granted	67,965	$	89	42,855	$	89	131,425	$	40
Performance-based awards issued related to prior year EPS-based performance awards	—	$	—	—	$	—	42,438	$	76
Awards vested, including awards repurchased from employees for employees’ tax liability	(83,324)	$	77	(81,283)	$	77	(114,003)	$	56
Awards forfeited	(10,585)	$	62	(31,052)	$	62	(3,415)	$	62
Awards outstanding at end of year	212,945	$	64	238,889	$	61	308,369	$	61

Service-based restricted shares and restricted share unit awards

Equity Compensation

Summary of information about unvested awards


	Number of	Average
	Unvested	Fair Value
	Share	on
Description	Awards	Date of Grant
Service-based restricted shares with July 2023 vesting date	111,665	$	41
Service-based restricted shares with May 2024 vesting date	35,755	$	89
Service-based restricted share units with May 2025 vesting date	65,525	$	89
Total service-based awards outstanding at end of year	212,945	$	64

TSR-based Restricted Share Units

Equity Compensation

Summary of award activity


	Fiscal 2022			Fiscal 2021			Fiscal 2020
		Weighted-			Weighted-			Weighted-
		average			average			average
	Number of	grant date		Number of	grant date		Number of	grant date
	Share Units	fair value		Share Units	fair value		Share Units	fair value
TSR-based awards outstanding at beginning of year	130,440	$	78	83,345	$	50	—	$	—
TSR-based awards granted	66,525	$	111	56,750	$	117	83,345	$	50
TSR-based awards forfeited	(925)	$	115	(9,655)	$	68	—	$	—
TSR-based awards outstanding at end of year	196,040	$	89	130,440	$	78	83,345	$	50

Summary of information about unvested awards



	Unvested		Fair Value
	TSR-Based	on
Description	Share/Unit	Date of Grant
TSR-based restricted share units (at target) with July 2023 vesting date	76,340	$	50
TSR-based restricted share units (at target) with May 2024 vesting date	53,500	$	117
TSR-based restricted share units (at target) with May 2025 vesting date	66,200	$	111
Total TSR-based restricted share units outstanding at end of year	196,040	$	89

Income Taxes (Tables)

12 Months Ended

Jan. 28, 2023

Income Taxes

Summary of distribution between domestic and foreign earnings (loss) before income taxes

The following table summarizes our distribution between domestic and foreign earnings (loss) before income taxes and the provision (benefit) for income taxes (in thousands):


	Fiscal		Fiscal		Fiscal
	2022		2021		2020
Earnings (loss) before income taxes:
Domestic	$	206,944	$	161,233	$	(129,129)
Foreign		8,781		3,326		3,252
Earnings (loss) before income taxes	$	215,725	$	164,559	$	(125,877)

Income taxes:
Current:
Federal	$	41,776	$	24,998	$	(11,498)
State		8,835		3,780		(1,060)
Foreign		1,191		409		735
		51,802		29,187		(11,823)
Deferred—Domestic		71		4,155		(17,780)
Deferred—Foreign		(1,883)		(104)		(582)
Income taxes	$	49,990	$	33,238	$	(30,185)

Summary of provision (benefit) for income taxes

The following table summarizes our distribution between domestic and foreign earnings (loss) before income taxes and the provision (benefit) for income taxes (in thousands):


	Fiscal		Fiscal		Fiscal
	2022		2021		2020
Earnings (loss) before income taxes:
Domestic	$	206,944	$	161,233	$	(129,129)
Foreign		8,781		3,326		3,252
Earnings (loss) before income taxes	$	215,725	$	164,559	$	(125,877)

Income taxes:
Current:
Federal	$	41,776	$	24,998	$	(11,498)
State		8,835		3,780		(1,060)
Foreign		1,191		409		735
		51,802		29,187		(11,823)
Deferred—Domestic		71		4,155		(17,780)
Deferred—Foreign		(1,883)		(104)		(582)
Income taxes	$	49,990	$	33,238	$	(30,185)

Schedule of reconciliations of the United States federal statutory income tax rates and the entity's effective tax rates


	Fiscal		Fiscal		Fiscal
	2022		2021		2020
Statutory federal income tax rate	21.0	%	21.0	%	21.0	%
State income taxes—net of federal income tax benefit	3.6	%	3.7	%	3.6	%
Impact of foreign operations rate differential	0.1	%	0.1	%	(0.2)	%
Impairment of non-deductible Southern Tide goodwill	—	%	—	%	(3.7)	%
Change in reserve for uncertain tax positions	0.2	%	(1.0)	%	(2.5)	%
Rate benefit from NOL carry-back to pre-U.S. Tax Reform periods due to the CARES Act	—	%	—	%	5.5	%
Impact of valuation allowances related to operating losses	(1.6)	%	(0.8)	%	(0.9)	%
Impact of valuation allowances related to capital losses	—	%	1.2	%	—	%
Impact of capital losses	—	%	(2.9)	%	—	%
Other, net	(0.1)	%	(1.1)	%	1.2	%
Effective tax rate for continuing operations	23.2	%	20.2	%	24.0	%

Schedule of deferred tax assets and liabilities

Deferred tax assets and liabilities included in our consolidated balance sheets are comprised of the following (in thousands):


	January 28,		January 29,
	2023		2022
Deferred Tax Assets:
Inventories	$	20,561	$	16,947
Accrued compensation and benefits		9,637		9,058
Receivable allowances and reserves		2,580		2,814
Operating lease liabilities		71,871		59,711
Operating loss and other carry-forwards		757		3,675
Other, net		4,901		3,529
Deferred tax assets		110,307		95,734
Deferred Tax Liabilities:
Operating lease assets		(66,145)		(51,909)
Depreciation and amortization		(15,289)		(12,427)
Acquired intangible assets		(26,030)		(26,792)
Deferred tax liabilities		(107,464)		(91,128)
Valuation allowance		(2,448)		(6,050)
Net deferred tax asset (liability)	$	395	$	(1,444)

Schedule of deferred income taxes included in the line items in the entity's consolidated balance sheets

The amounts of deferred income taxes included in our consolidated balance sheets are as follows (in thousands):


	January 28,		January 29,
	2023		2022
Assets:
Deferred tax assets	$	3,376	$	1,467
Liabilities:
Deferred tax liabilities		(2,981)		(2,911)
Net deferred tax asset (liability)	$	395	$	(1,444)

Schedule of reconciliation of changes in gross amount of unrecognized tax benefits


	January 28,		January 29,
	2023		2022
Assets:
Deferred tax assets	$	3,376	$	1,467
Liabilities:
Deferred tax liabilities		(2,981)		(2,911)
Net deferred tax asset (liability)	$	395	$	(1,444)

A reconciliation of the changes in the gross amount of unrecognized tax benefits, which are included in other non-current liabilities, is as follows (in thousands):


	Fiscal 2022		Fiscal 2021		Fiscal 2020
Balance of unrecognized tax benefits at beginning of year	$	3,390	$	5,261	$	1,212
Increase related to prior period tax positions		110		10		303
Decrease related to prior period tax positions		—		—		(1)
Increase related to current period tax positions		646		527		3,960
Decrease related to settlements with taxing authorities		—		(2,305)		—
Decrease related to lapse of statute of limitations		(482)		(103)		(213)
Balance of unrecognized tax benefits at end of year	$	3,664	$	3,390	$	5,261

Business Combinations (Tables)

12 Months Ended

Jan. 28, 2023

Business Combinations

Summary of our preliminary allocation of the purchase price

The following table summarizes our preliminary allocation of the purchase price for the Johnny Was acquisition (in thousands):


	Johnny Was acquisition
Cash and cash equivalents	$	7,296
Receivables		8,777
Inventories ⁽¹⁾		23,434
Prepaid expenses and other assets		6,353
Property and equipment		21,108
Intangible assets		134,640
Goodwill		96,637
Operating lease assets		54,859
Accounts payable, accrued expenses and other liabilities		(34,777)
Non-current portion of operating lease liabilities		(47,009)
Purchase price	$	271,318

(1)

Summary of Intangible assets allocated in connection with our preliminary purchase price allocation

We acquired tradenames and trademarks as well as customer relationships as part of the acquisition. We used the relief from royalty method to estimate the fair value of trademarks and tradenames and the multi-period excess earnings method under the income approach to estimate the fair value of customer relationships. Intangible assets allocated in connection with our preliminary purchase price allocation consisted of the following (in thousands):


		Johnny Was
	Useful life	acquisition
Finite lived intangible assets acquired, primarily consisting of customer relationships	8 - 13 years	$	56,740
Trade names and trademarks	Indefinite		77,900
		$	134,640

Schedule of pro forma statements of operations

Schedule of pro forma statements of operations


	Fiscal 2022		Fiscal 2021
Net sales	$	1,546,371	$	1,327,875
Earnings before income taxes	$	237,919	$	169,832
Net earnings	$	182,380	$	135,276
Earnings per share:
Basic	$	11.47	$	8.02
Diluted	$	11.22	$	8.13

Business and Summary of Significant Accounting Policies - Fiscal Year (Details)	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Fiscal Year
Length of fiscal period		364 days	364 days	364 days
Forecast
Fiscal Year
Length of fiscal period	371 days
Minimum
Fiscal Year
Length of fiscal period		364 days
Maximum
Fiscal Year
Length of fiscal period		371 days

Business and Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Revenue
Net sales	$ 1,411,528	$ 1,142,079	$ 748,833
Retail
Revenue
Net sales	552,696	443,015	202,071
E-commerce
Revenue
Net sales	465,446	369,300	323,900
Food & beverage
Revenue
Net sales	109,225	96,244	48,428
Wholesale
Revenue
Net sales	281,938	231,536	173,209
Other
Revenue
Net sales	$ 2,223	$ 1,984	$ 1,225

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 41
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 280
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-Section 50
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 280
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

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-Name Accounting Standards Codification
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+ Details

Business and Summary of Significant Accounting Policies - Receivables (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Receivables
Sales return liability	$ 12,000	$ 11,000
Receivable reserve	4,000	3,000
Provision for credit loss		(1,000)	$ 4,000
Write-off of credit losses			2,000
Credit loss reserve	1,000	1,000
Tenant allowances receivable	2,000	1,000
Value of inventory for direct to consumer and wholesale sales returns	$ 4,000	4,000
Redemption period of gift card and merchandise credit	1 year
Net sales	$ 1,411,528	1,142,079	748,833
Royalty income	22,000	18,000	14,000
Customers with gift cards and merchandise credits
Receivables
Contract liabilities	19,000	16,000
Customers registered in loyalty award programs
Receivables
Contract liabilities	1,000	1,000
Maximum
Receivables
Provision for credit loss	(1,000)
Write-off of credit losses	1,000	1,000
Gift Card Breakage
Receivables
Net sales	$ 1,000	$ 1,000	$ 1,000

Business and Summary of Significant Accounting Policies - SG&A (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
SG&A
Distribution network costs	$ 36	$ 28	$ 26
Advertising, promotions and marketing expenses	82	60	50
Prepaid advertising, promotions and marketing expenses	6	4
Royalty expenses	$ 4	$ 6	$ 6

Business and Summary of Significant Accounting Policies - Cash and Cash Equivalents and Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Cash and Cash Equivalents
Cash and cash equivalents	$ 8,826	$ 44,859
Supplemental Cash Flow Information
Cash paid for income taxes	56,000	34,000	$ 6,000
Cash paid for interest, net of interest income	3,000	1,000	2,000
Capital expenditures incurred but not yet paid	3,000	3,000	1,000
Net increase in operating lease assets and corresponding operating lease liability amounts	47,000	18,000	$ 2,000
Money Market Funds
Cash and Cash Equivalents
Cash and cash equivalents	$ 1,000	$ 37,000

Business and Summary of Significant Accounting Policies - Short-Term Investments and Inventories, net (Details) - USD ($) $ in Thousands	Jan. 28, 2023	Jan. 29, 2022
Short-Term Investments
Short-term investments	$ 0	$ 164,890
Inventories, net
Inventories valued at the lower of LIFO cost or market after deducting LIFO reserve	$ 204,000	$ 103,000
Inventories valued at the lower of LIFO cost or market (as a percent)	93.00%	88.00%
Inventories valued at the lower of FIFO cost or market	$ 16,000	$ 14,000
LIFO reserve	$ 76,000	$ 69,000

Business and Summary of Significant Accounting Policies - Property and Equipment, net (Details)	12 Months Ended
	Jan. 28, 2023
Furniture, fixtures, equipment and technology \| Minimum
Property and Equipment, net
Estimated useful lives	2 years
Furniture, fixtures, equipment and technology \| Maximum
Property and Equipment, net
Estimated useful lives	15 years
Buildings and improvements \| Minimum
Property and Equipment, net
Estimated useful lives	7 years
Buildings and improvements \| Maximum
Property and Equipment, net
Estimated useful lives	40 years

Business and Summary of Significant Accounting Policies - Intangible Assets and Goodwill, net (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	May 02, 2020	Jan. 30, 2021	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Intangible Assets, net
Impairment of intangible assets with indefinite lives	$ 18,000	$ 0	$ 0	$ 0
Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill), Statement of Income or Comprehensive Income	Impairment of goodwill and intangible assets
Goodwill, net
Impairment of goodwill	$ 43,000				$ 42,745
Maximum
Intangible Assets, net
Finite lived intangible assets amortization period			20 years

Business and Summary of Significant Accounting Policies - Prepaid Expenses and Other Non-Current Assets, net and Deferred Compensation (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022
Prepaid Expenses and Other Non-Current Assets, net
Officers' life insurance policies	$ 4	$ 4
Unamortized deferred financing costs	1	1
Deferred Compensation
Deferred compensation investments	16	17
Liabilities associated with the non-qualified deferred compensation plan	$ 15	$ 17

Business and Summary of Significant Accounting Policies - Equity Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Equity investments
Payment for equity investments	$ 8,000		$ 6,000
Equity method investments	11,000	$ 3,000
Gain (loss) on investments	$ (1,000)	12,000
Proceeds from sale of investment in unconsolidated entity		14,586
Gain on sale of investment in unconsolidated entity		$ 11,586
Maximum
Equity investments
Gain (loss) on investments			$ (1,000)
Smaller apparel lifestyle brands
Equity investments
Ownership (as a percent)	10.00%

Business and Summary of Significant Accounting Policies - Impairment Assessment (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Significant Accounting Policies
Impairment of property and equipment	$ 1,430	$ 1,656	$ 19,828
Operating lease asset impairment	0	5,000	4,000
Impairment of goodwill and intangible assets			$ 60,452
Impairment of intangible assets with finite lives	$ 0	$ 0
Impairment, Intangible Asset, Finite-Lived, Statement of Income or Comprehensive Income			Impairment of goodwill and intangible assets
Tommy Bahama
Significant Accounting Policies
Operating lease asset impairment			$ 1,000
Tommy Bahama \| Information technology project
Significant Accounting Policies
Impairment of property and equipment			15,000
Tommy Bahama \| Leasehold improvements
Significant Accounting Policies
Impairment of property and equipment			1,000
Lanier Apparel
Significant Accounting Policies
Operating lease asset impairment			3,000
Lanier Apparel \| Maximum
Significant Accounting Policies
Impairment of intangible assets with finite lives			1,000
Lanier Apparel \| Leasehold improvements
Significant Accounting Policies
Impairment of property and equipment			1,000
Tommy Bahama and Lilly Pulitzer \| Retail store assets
Significant Accounting Policies
Impairment of property and equipment			$ 2,000

Business and Summary of Significant Accounting Policies - Legal and Other Contingencies and Other Non-current Liabilities (Details) $ in Thousands	12 Months Ended				48 Months Ended
	Jan. 28, 2023 USD ($) individual	Jan. 29, 2022 USD ($)	Jan. 30, 2021 USD ($)	Feb. 03, 2018	Jan. 29, 2022 USD ($)
Business Combinations
Change in fair value of contingent consideration		$ 1,188	$ 593
TBBC
Business Combinations
Change in fair value of contingent consideration		1,000	$ 1,000
Contingent consideration	$ 0	$ 2,000			$ 2,000
Aggregate amount of contingent consideration earned by seller					$ 4,000
Period over which contingent consideration is payable				4 years
Contingent consideration paid	$ 2,000
Number of sellers that is an employee \| individual	1

Business and Summary of Significant Accounting Policies - Leases and Foreign Currency (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Operating leases
Lease modification concession recognized, COVID-19 rent concession	$ 0	$ 1	$ 4
Reduction of operating lease asset, COVID-19 rent concession	0	3	4
Foreign Currency
Net losses (gains) on foreign currency transactions	$ 2	$ 1	$ 0
Maximum \| Real Estate
Operating leases
Lease term	10 years

Business and Summary of Significant Accounting Policies - Fair Value (Details) - Emerging Brands - Southern Tide brand - Trademarks $ in Millions	May 02, 2020 USD ($)
Fair value
Fair value, intangible asset	$ 9
Measurement Input, Rate of Return
Fair value
Measurement input	0.13

Business and Summary of Significant Accounting Policies - Dividends (Details) - USD ($) $ in Millions	Jan. 28, 2023	Jan. 29, 2022
Dividends
Dividends accrued related to restricted share units	$ 1
Maximum
Dividends
Dividends accrued related to restricted share units		$ 1

Business and Summary of Significant Accounting Policies - Concentration of Credit Risk and Significant Customers (Details) - Consolidated accounts receivable - Credit concentration risk	12 Months Ended
	Jan. 28, 2023 customer
Customer One
Concentration of Credit Risk and Significant Customers
Number of customers	1
Concentration risk, percentage	16.00%
Customer Two
Concentration of Credit Risk and Significant Customers
Number of customers	1
Concentration risk, percentage	11.00%

Business and Summary of Significant Accounting Policies - EPS (Details) - shares shares in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Basis of Presentation
Anti-dilutive securities	0.0	0.0	0.4

Operating Groups - Financial information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Operating groups
Net sales	$ 1,411,528	$ 1,142,079	$ 748,833
Depreciation and amortization	49,035	41,598	59,914
Operating income (loss)	218,774	165,503	(123,849)
Interest expense, net	3,049	944	2,028
Earnings (loss) before income taxes	215,725	164,559	(125,877)
Impairment of goodwill and intangible assets			60,452
Gain on sale of investment in unconsolidated entity		11,586
Corporate and Other
Operating groups
Net sales	2,954	3,868	942
Depreciation and amortization	663	685	837
Operating income (loss)	(35,143)	(31,368)	(8,863)
LIFO accounting charge (credit)	3,000	16,000	9,000
Transaction expenses and integration costs	3,000
Gain on sale of investment in unconsolidated entity		12,000
Tommy Bahama \| Operating Segments
Operating groups
Net sales	880,233	724,305	419,817
Depreciation and amortization	26,807	27,830	46,698
Operating income (loss)	172,761	111,733	(53,310)
Lilly Pulitzer \| Operating Segments
Operating groups
Net sales	339,266	298,995	231,078
Depreciation and amortization	12,784	11,678	9,965
Operating income (loss)	67,098	63,601	27,702
Johnny Was \| Operating Segments
Operating groups
Net sales	72,591
Depreciation and amortization	7,199
Operating income (loss)	(1,544)
Emerging Brands \| Southern Tide brand
Operating groups
Impairment of goodwill and intangible assets	0	0	60,000
Emerging Brands \| Operating Segments
Operating groups
Net sales	116,484	90,053	58,200
Depreciation and amortization	1,582	1,298	1,175
Operating income (loss)	$ 15,602	16,649	(62,724)
Lanier Apparel \| Operating Segments
Operating groups
Net sales		24,858	38,796
Depreciation and amortization		107	1,239
Operating income (loss)		$ 4,888	$ (26,654)

Operating Groups- Purchases of P&E (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Operating groups
Purchases of Property and Equipment	$ 46,668	$ 31,894	$ 28,924
Corporate and Other
Operating groups
Purchases of Property and Equipment	828	292	470
Tommy Bahama \| Operating Segments
Operating groups
Purchases of Property and Equipment	17,019	12,887	19,666
Lilly Pulitzer \| Operating Segments
Operating groups
Purchases of Property and Equipment	23,990	17,305	7,059
Johnny Was \| Operating Segments
Operating groups
Purchases of Property and Equipment	1,655
Emerging Brands \| Operating Segments
Operating groups
Purchases of Property and Equipment	$ 3,176	1,405	1,708
Lanier Apparel \| Operating Segments
Operating groups
Purchases of Property and Equipment		$ 5	$ 21

Operating Groups - Assets (Details) - USD ($) $ in Thousands	Jan. 28, 2023	Jan. 29, 2022
Operating groups
Assets	$ 1,188,665	$ 957,642
Corporate and Other
Operating groups
Assets	(18,196)	182,175
Tommy Bahama \| Operating Segments
Operating groups
Assets	569,833	531,678
Lilly Pulitzer \| Operating Segments
Operating groups
Assets	211,119	176,757
Johnny Was \| Operating Segments
Operating groups
Assets	334,603
Emerging Brands \| Operating Segments
Operating groups
Assets	$ 91,306	66,825
Lanier Apparel \| Operating Segments
Operating groups
Assets		$ 207

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Operating Groups - Assets and sales by geographic area (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Geographic area
Net book value of property and equipment	$ 177,584	$ 152,447
Net sales	1,411,528	1,142,079	$ 748,833
United States
Geographic area
Net book value of property and equipment	174,044	149,352
Net sales	1,372,278	1,112,384	728,308
Other foreign
Geographic area
Net book value of property and equipment	3,540	3,095
Net sales	$ 39,250	$ 29,695	$ 20,525

- Definition

+ References

+ Details

Operating Groups - Sales by operating group (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Operating groups
Net sales	$ 1,411,528	$ 1,142,079	$ 748,833
Operating Segments \| Tommy Bahama
Operating groups
Net sales	880,233	724,305	419,817
Operating Segments \| Lilly Pulitzer
Operating groups
Net sales	339,266	298,995	231,078
Operating Segments \| Johnny Was
Operating groups
Net sales	72,591
Operating Segments \| Emerging Brands
Operating groups
Net sales	116,484	90,053	58,200
Operating Segments \| Lanier Apparel
Operating groups
Net sales		24,858	38,796
Corporate and Other
Operating groups
Net sales	2,954	3,868	942
Retail
Operating groups
Net sales	$ 552,696	$ 443,015	$ 202,071
Net sales (as a percent)	39.00%	39.00%	27.00%
Retail \| Operating Segments \| Tommy Bahama
Operating groups
Net sales (as a percent)	46.00%	47.00%	37.00%
Retail \| Operating Segments \| Lilly Pulitzer
Operating groups
Net sales (as a percent)	33.00%	34.00%	20.00%
Retail \| Operating Segments \| Johnny Was
Operating groups
Net sales (as a percent)	36.00%
Retail \| Operating Segments \| Emerging Brands
Operating groups
Net sales (as a percent)	6.00%	5.00%	3.00%
E-commerce
Operating groups
Net sales	$ 465,446	$ 369,300	$ 323,900
Net sales (as a percent)	33.00%	32.00%	43.00%
E-commerce \| Operating Segments \| Tommy Bahama
Operating groups
Net sales (as a percent)	24.00%	25.00%	36.00%
E-commerce \| Operating Segments \| Lilly Pulitzer
Operating groups
Net sales (as a percent)	51.00%	50.00%	64.00%
E-commerce \| Operating Segments \| Johnny Was
Operating groups
Net sales (as a percent)	42.00%
E-commerce \| Operating Segments \| Emerging Brands
Operating groups
Net sales (as a percent)	42.00%	39.00%	45.00%
Food & beverage
Operating groups
Net sales	$ 109,225	$ 96,244	$ 48,428
Net sales (as a percent)	8.00%	8.00%	6.00%
Food & beverage \| Operating Segments \| Tommy Bahama
Operating groups
Net sales (as a percent)	13.00%	13.00%	11.00%
Wholesale
Operating groups
Net sales	$ 281,938	$ 231,536	$ 173,209
Net sales (as a percent)	20.00%	20.00%	23.00%
Wholesale \| Operating Segments \| Tommy Bahama
Operating groups
Net sales (as a percent)	17.00%	15.00%	16.00%
Wholesale \| Operating Segments \| Lilly Pulitzer
Operating groups
Net sales (as a percent)	16.00%	16.00%	16.00%
Wholesale \| Operating Segments \| Johnny Was
Operating groups
Net sales (as a percent)	22.00%
Wholesale \| Operating Segments \| Emerging Brands
Operating groups
Net sales (as a percent)	52.00%	56.00%	52.00%
Wholesale \| Operating Segments \| Lanier Apparel
Operating groups
Net sales (as a percent)		100.00%	100.00%
Wholesale \| Corporate and Other
Operating groups
Net sales (as a percent)	43.00%	61.00%
Other
Operating groups
Net sales	$ 2,223	$ 1,984	$ 1,225
Other \| Corporate and Other
Operating groups
Net sales (as a percent)	57.00%	39.00%	100.00%

Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jan. 28, 2023	Jan. 29, 2022
Property and Equipment, net
Property and equipment, gross	$ 570,129	$ 511,972
Less accumulated depreciation and amortization	(392,545)	(359,525)
Property and equipment, net	177,584	152,447
Land
Property and Equipment, net
Property and equipment, gross	3,090	3,135
Buildings and improvements
Property and Equipment, net
Property and equipment, gross	32,495	32,090
Furniture, fixtures, equipment and technology
Property and Equipment, net
Property and equipment, gross	278,589	242,759
Leasehold improvements
Property and Equipment, net
Property and equipment, gross	$ 255,955	$ 233,988

Intangible Assets and Goodwill - By category (Details) - USD ($) $ in Thousands	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Intangible assets with finite lives
Intangible assets with finite lives	$ 108,513	$ 51,929
Accumulated amortization and impairment	(50,068)	(44,122)
Total intangible assets with finite lives, net	58,445	7,807
Intangible assets with indefinite lives:
Total intangible assets with indefinite lives	225,400	147,500
Total intangible assets, net	283,845	155,307	$ 156,187	$ 175,005
Trademarks \| Tommy Bahama
Intangible assets with indefinite lives:
Total intangible assets with indefinite lives	110,700	110,700
Trademarks \| Lilly Pulitzer
Intangible assets with indefinite lives:
Total intangible assets with indefinite lives	27,500	27,500
Trademarks \| Johnny Was
Intangible assets with indefinite lives:
Total intangible assets with indefinite lives	77,900
Trademarks \| Emerging Brands \| Southern Tide brand
Intangible assets with indefinite lives:
Total intangible assets with indefinite lives	$ 9,300	$ 9,300

Intangible Assets and Goodwill - By operating group (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Changes in carrying amount of intangible assets
Balance at the beginning of the period	$ 155,307	$ 156,187	$ 175,005
Acquisition	134,640
Impairment			(17,707)
Amortization	(6,102)	(880)	(1,111)
Balance at the end of the period	283,845	155,307	156,187
Operating Segments \| Tommy Bahama
Changes in carrying amount of intangible assets
Balance at the beginning of the period	110,700	110,700	110,700
Balance at the end of the period	110,700	110,700	110,700
Operating Segments \| Lilly Pulitzer
Changes in carrying amount of intangible assets
Balance at the beginning of the period	28,097	28,317	28,741
Amortization	(238)	(220)	(424)
Balance at the end of the period	27,859	28,097	28,317
Operating Segments \| Johnny Was
Changes in carrying amount of intangible assets
Acquisition	134,640
Amortization	(5,194)
Balance at the end of the period	129,446
Operating Segments \| Emerging Brands
Changes in carrying amount of intangible assets
Balance at the beginning of the period	16,510	17,170	35,349
Impairment			(17,500)
Amortization	(670)	(660)	(679)
Balance at the end of the period	$ 15,840	$ 16,510	17,170
Operating Segments \| Lanier Apparel
Changes in carrying amount of intangible assets
Balance at the beginning of the period			215
Impairment			(207)
Amortization			$ (8)

Intangible Assets and Goodwill - Amortization expense (Details) $ in Millions	Jan. 28, 2023 USD ($)
Expected amortization expense
Fiscal 2023	$ 15
Fiscal 2024	11
Fiscal 2025	8
Fiscal 2026	6
Fiscal 2027	$ 4

Intangible Assets and Goodwill - Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	May 02, 2020	Jan. 30, 2021	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Changes in the carrying amount of goodwill
Balance at the beginning of the period	$ 66,578		$ 23,869	$ 23,910	$ 66,578
Acquisition			96,637
Impairment	(43,000)				(42,745)
Other, including foreign currency			(8)	(41)	77
Balance at the end of the period		$ 23,910	120,498	23,869	23,910
Impairment of intangible assets with indefinite lives	18,000	0	0	0
Tommy Bahama \| Operating Segments
Changes in the carrying amount of goodwill
Balance at the beginning of the period	711		747	788	711
Other, including foreign currency			(8)	(41)	77
Balance at the end of the period		788	739	747	788
Lilly Pulitzer \| Operating Segments
Changes in the carrying amount of goodwill
Balance at the beginning of the period	19,522		19,522	19,522	19,522
Balance at the end of the period		19,522	19,522	19,522	19,522
Johnny Was \| Operating Segments
Changes in the carrying amount of goodwill
Acquisition			96,637
Balance at the end of the period			96,637
Emerging Brands \| Operating Segments
Changes in the carrying amount of goodwill
Balance at the beginning of the period	$ 46,345		3,600	3,600	46,345
Impairment					(42,745)
Balance at the end of the period		$ 3,600	$ 3,600	$ 3,600	$ 3,600

Debt (Details) - US Revolving Credit Agreement - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022
Debt
Debt outstanding	$ 119.0	$ 0.0
Maximum borrowing capacity	$ 325.0
Weighted average interest rate (as a percent)	6.00%
Letters of credit outstanding	$ 7.0
Unused availability	$ 199.0
Covenants, Other Restrictions and Prepayment Penalties
Consecutive period during which if threshold is not reached then specified fixed charge coverage ratio must be maintained	3 days
Threshold amount of unused availability for specified fixed charge coverage ratio	$ 23.5
Threshold percentage of total revolving commitments for specified fixed charge coverage ratio	10.00%
Trailing fiscal period used in calculating the fixed charge coverage ratio under financial covenants	12 months
Period during which percentage of total revolving commitments are required to be maintained	30 days
Minimum
Covenants, Other Restrictions and Prepayment Penalties
Fixed charge coverage ratio	1.0
Minimum \| Secured Overnight Financing Rate (SOFR)
Debt
Applicable margin (as a percent)	1.35%
Minimum \| Prime Rate
Debt
Applicable margin (as a percent)	0.35%
Maximum \| Secured Overnight Financing Rate (SOFR)
Debt
Applicable margin (as a percent)	1.85%
Maximum \| Prime Rate
Debt
Applicable margin (as a percent)	0.85%

Leases and Other Commitments - Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Leases
Operating lease expense	$ 61	$ 58	$ 64
Variable lease expense	43	35	30
Total lease expense	$ 104	$ 93	93
Weighted average remaining lease term	6 years	5 years
Weighted average discount rate (as a percent)	4.70%	3.80%
Cash paid for lease liabilities	$ 75	$ 70	$ 63

Leases and Other Commitments - Lease liability payment schedule (Details) $ in Thousands	Jan. 28, 2023 USD ($)
Required lease liability payments due
2023	$ 82,744
2024	66,153
2025	50,079
2026	42,917
2027	29,762
After 2027	64,261
Total lease payments	335,916
Less: Difference between discounted and undiscounted lease payments	41,342
Present value of lease liabilities	$ 294,574
Operating Lease, Liability, Statement of Financial Position	Current portion of operating lease liabilities, Non-current portion of operating lease liabilities

Shareholders' Equity - Common Stock (Details) - $ / shares shares in Millions	Jan. 28, 2023	Jan. 29, 2022
Common Stock
Common stock authorized for issuance (in shares)	60	60
Common stock par value (in dollars per share)	$ 1.00	$ 1.00
Common stock issued (in shares)	16	17
Common stock outstanding (in shares)	16	17

Shareholders' Equity - Dividends (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Dividends
Dividends paid	$ 35,287	$ 27,536	$ 16,844

Shareholders' Equity - Share Repurchases (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended			14 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021	Jan. 28, 2023	Dec. 07, 2021
Shareholders' Equity
Repurchase of shares (in dollars)	$ 92	$ 8	$ 18	$ 100
Purchase of shares from employees to cover employee tax liabilities of vesting of shares (in dollars)	3	$ 3	$ 2
Amount authorized for repurchase (in dollars)					$ 150
Repurchase of shares (in shares)				1.1
Average price (in dollars per share)				$ 90
Amount remaining available for repurchase (in dollars)	$ 50			$ 50

Shareholders' Equity - Preferred Stock (Details) - $ / shares shares in Millions	Jan. 28, 2023	Jan. 29, 2022
Preferred Stock
Preferred stock authorized (in shares)	30	30
Preferred stock par value (in dollars per share)	$ 1.00	$ 1.00
Preferred shares issued (in shares)	0	0
Preferred shares outstanding (in shares)	0	0

Equity Compensation - Long-Term Stock Incentive Plan and Equity Compensation Expense (Details) shares in Millions, $ in Millions	12 Months Ended
	Jan. 28, 2023 USD ($) shares
Restricted shares and restricted share units
Equity Compensation
Vesting period	3 years
Unrecognized compensation expense related to unvested share-based restricted stock awards and the unvested restricted share units (in dollars) \| $	$ 15
Weighted average remaining life of the outstanding awards	1 year
Long-Term Stock Incentive Plan \| Maximum
Equity Compensation
Share awards available for issuance	1.0
Predecessor Plans to Long-Term Stock Incentive Plan
Equity Compensation
Share awards available for issuance	0.0

Equity Compensation - Service-Based and Performance-Based Restricted Share Award Activity (Details) - $ / shares	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Restricted shares and restricted share units, excluding TSR-based restricted share units
Number of Shares
Awards outstanding at beginning of year (in shares)	238,889	308,369	251,924
Awards vested, including awards repurchased from employees for employees' tax liability (in shares)	(83,324)	(81,283)	(114,003)
Awards forfeited (in shares)	(10,585)	(31,052)	(3,415)
Awards outstanding at end of year (in shares)	212,945	238,889	308,369
Weighted-average grant date fair value
Awards outstanding at beginning of year (in dollars per share)	$ 61	$ 61	$ 68
Awards vested, including awards repurchased from employees for employees' tax liability (in dollars per share)	77	77	56
Awards forfeited (in dollars per share)	62	62	62
Outstanding at end of year (in dollars per share)	$ 64	$ 61	$ 61
Service-based restricted shares and restricted share unit awards
Number of Shares
Awards outstanding at beginning of year (in shares)
Awards granted/issued (in shares)	67,965	42,855	131,425
Awards outstanding at end of year (in shares)	212,945
Weighted-average grant date fair value
Awards outstanding at beginning of year (in dollars per share)
Awards granted/issued (in dollars per share)	$ 89	$ 89	$ 40
Outstanding at end of year (in dollars per share)	$ 64
Performance-based awards issued related to prior year EPS-based performance awards
Number of Shares
Awards granted/issued (in shares)			42,438
Weighted-average grant date fair value
Awards granted/issued (in dollars per share)			$ 76

Equity Compensation - Unvested Service-based Restricted Share Awards (Details) - $ / shares	2 Months Ended	12 Months Ended
	Mar. 24, 2023	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Service-based restricted shares and restricted share unit awards
Equity Compensation
Number of Unvested Share Awards		212,945
Average Fair Value on Date of Grant (in dollars per share)		$ 64
Awards granted/issued (in shares)		67,965	42,855	131,425
Service-based restricted shares with July 2023 vesting date
Equity Compensation
Number of Unvested Share Awards		111,665
Average Fair Value on Date of Grant (in dollars per share)		$ 41
Service-based restricted shares with May 2024 vesting date
Equity Compensation
Number of Unvested Share Awards		35,755
Average Fair Value on Date of Grant (in dollars per share)		$ 89
Service-based restricted share units with May 2025 vesting date
Equity Compensation
Number of Unvested Share Awards		65,525
Average Fair Value on Date of Grant (in dollars per share)		$ 89
Service-based restricted share units with May 2026 vesting date \| Subsequent Event.
Equity Compensation
Awards granted/issued (in shares)	100,000

Equity Compensation - TSR-based Restricted Share Unit Activity (Details) - TSR-based Restricted Share Units - $ / shares	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Number of Shares
Awards outstanding at beginning of year (in shares)	130,440	83,345
Awards granted/issued (in shares)	66,525	56,750	83,345
Awards forfeited (in shares)	(925)	(9,655)
Awards outstanding at end of year (in shares)	196,040	130,440	83,345
Weighted-average grant date fair value
Awards outstanding at beginning of year (in dollars per share)	$ 78	$ 50
Awards granted/issued (in dollars per share)	111	117	$ 50
Awards forfeited (in dollars per share)	115	68
Outstanding at end of year (in dollars per share)	$ 89	$ 78	$ 50
Comparative period	3 years
Vesting period	3 years
Minimum
Weighted-average grant date fair value
Shares earned as a percent of share target	0.00%
Maximum
Weighted-average grant date fair value
Shares earned as a percent of share target	200.00%

Equity Compensation - Unvested TSR-based Restricted Share Units (Details) - $ / shares	2 Months Ended	12 Months Ended
	Mar. 24, 2023	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
TSR-based Restricted Share Units
Equity Compensation
Number of Unvested Share Awards		196,040	130,440	83,345
Average Fair Value on Date of Grant (in dollars per share)		$ 89	$ 78	$ 50
Awards granted/issued (in shares)		66,525	56,750	83,345
Vesting period		3 years
TSR-based Restricted Share Units \| Minimum
Equity Compensation
Shares earned as a percent of share target		0.00%
TSR-based Restricted Share Units \| Maximum
Equity Compensation
Shares earned as a percent of share target		200.00%
TSR-based restricted share units (at target) with July 2023 vesting date
Equity Compensation
Number of Unvested Share Awards		76,340
Average Fair Value on Date of Grant (in dollars per share)		$ 50
TSR-based restricted share units (at target) with May 2024 vesting date
Equity Compensation
Number of Unvested Share Awards		53,500
Average Fair Value on Date of Grant (in dollars per share)		$ 117
TSR-based restricted share units (at target) with May 2025 vesting date
Equity Compensation
Number of Unvested Share Awards		66,200
Average Fair Value on Date of Grant (in dollars per share)		$ 111
TSR-based restricted share units (at target) with May 2026 vesting date \| Subsequent Event.
Equity Compensation
Awards granted/issued (in shares)	100,000
Vesting period	3 years
TSR-based restricted share units (at target) with May 2026 vesting date \| Minimum \| Subsequent Event.
Equity Compensation
Shares earned as a percent of share target	0.00%
TSR-based restricted share units (at target) with May 2026 vesting date \| Maximum \| Subsequent Event.
Equity Compensation
Shares earned as a percent of share target	200.00%

Equity Compensation - Employee Stock Purchase Plan (Details) - Employee Stock Purchase Plan - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Equity Compensation
Purchase price of common stock as a percentage of closing market price	85.00%
Maximum
Equity Compensation
Common stock authorized for issuance (in shares)	1
Stock compensation expense (in dollars)	$ 1	$ 1	$ 1

Defined Contribution Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Defined Contribution Plans
Expense under defined contribution and non-qualified deferred compensation plans	$ 5	$ 4	$ 1

Income Taxes - Earnings and tax provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Earnings (loss) before income taxes:
Domestic	$ 206,944	$ 161,233	$ (129,129)
Foreign	8,781	3,326	3,252
Earnings (loss) before income taxes	215,725	164,559	(125,877)
Current:
Federal	41,776	24,998	(11,498)
State	8,835	3,780	(1,060)
Foreign	1,191	409	735
Total current	51,802	29,187	(11,823)
Deferred-Domestic	71	4,155	(17,780)
Deferred-Foreign	(1,883)	(104)	(582)
Income taxes	$ 49,990	$ 33,238	$ (30,185)

Income Taxes - Rate reconciliation (Details)	12 Months Ended
Income Taxes - Rate reconciliation (Details)	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Reconciliations of the United States federal statutory income tax rates and effective tax rates
Statutory federal income tax rate (as a percent)	21.00%	21.00%	21.00%
State income taxes-net of federal income tax benefit (as a percent)	3.60%	3.70%	3.60%
Impact of foreign operations rate differential (as a percent)	0.10%	0.10%	(0.20%)
Impairment of non-deductible Southern Tide goodwill (as a percent)			(3.70%)
Change in reserve for uncertain tax positions (as a percent)	0.20%	(1.00%)	(2.50%)
Rate benefit from NOL carry-back to pre-U.S. Tax Reform periods due to the CARES Act (as a percent)			5.50%
Impact of valuation allowances related to operating losses (as a percent)	(1.60%)	(0.80%)	(0.90%)
Impact of valuation allowances related to capital losses (as a percent)		1.20%
Impact of capital losses (as a percent)		(2.90%)
Other, net (as a percent)	(0.10%)	(1.10%)	1.20%
Effective rate for continuing operations (as a percent)	23.20%	20.20%	24.00%

Income Taxes - Deferred tax assets and liabilities (Details) - USD ($) $ in Thousands	Jan. 28, 2023	Jan. 29, 2022
Deferred Tax Assets:
Inventories	$ 20,561	$ 16,947
Accrued compensation and benefits	9,637	9,058
Receivable allowances and reserves	2,580	2,814
Operating lease liabilities	71,871	59,711
Operating loss and other carry-forwards	757	3,675
Other, net	4,901	3,529
Deferred tax assets	110,307	95,734
Deferred Tax Liabilities:
Operating lease assets	(66,145)	(51,909)
Depreciation and amortization	(15,289)	(12,427)
Acquired intangible assets	(26,030)	(26,792)
Deferred tax liabilities	(107,464)	(91,128)
Valuation allowance	(2,448)	(6,050)
Net deferred tax asset	$ 395
Net deferred tax liability		$ (1,444)

Income Taxes - Carry forwards (Details) - USD ($) $ in Thousands	Jan. 28, 2023	Jan. 29, 2022
Income Taxes
Valuation allowance	$ (2,448)	$ (6,050)

Income Taxes - Balance sheet (Details) - USD ($) $ in Thousands	Jan. 28, 2023	Jan. 29, 2022
Assets:
Deferred tax assets	$ 3,376	$ 1,467
Liabilities
Deferred tax liabilities	(2,981)	(2,911)
Net deferred tax asset	$ 395
Net deferred tax liability		$ (1,444)

Income Taxes - Reconciliation of changes in unrecognized tax benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Reconciliation of changes in gross amount of unrecognized tax benefits
Balance of unrecognized tax benefits at beginning of year	$ 3,390	$ 5,261	$ 1,212
Increase related to prior period tax positions	110	10	303
Decrease related to prior period tax positions			(1)
Increase related to current period tax positions	646	527	3,960
Decrease related to settlements with taxing authorities		(2,305)
Decrease related to lapse of statute of limitations	(482)	(103)	(213)
Balance of unrecognized tax benefits at end of year	3,664	3,390	5,261
Amount of uncertain tax positions, if recognized, would reduce the future effective tax rate	1,000
Maximum
Reconciliation of changes in gross amount of unrecognized tax benefits
Interest and penalties recognized associated with unrecognized tax positions	$ 1,000	$ 1,000	$ 1,000

Lanier Apparel Exit (Details) - USD ($) $ in Thousands	12 Months Ended
Lanier Apparel Exit (Details) - USD ($) $ in Thousands	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Restructuring
Gain on sale of property	$ 600	$ 2,669
Future lease amounts	75,000	70,000	$ 63,000
Lanier Apparel Exit Plan
Restructuring
Pre-tax exit costs		(2,000)	13,000
Future lease amounts	$ 2,000
Lanier Apparel Exit Plan \| Inventory markdowns
Restructuring
Pre-tax exit costs		(4,000)	6,000
Lanier Apparel Exit Plan \| Employee severance and retention
Restructuring
Pre-tax exit costs		2,000	3,000
Lanier Apparel Exit Plan \| Termination of license agreements
Restructuring
Pre-tax exit costs		2,000
Lanier Apparel Exit Plan \| Operating lease asset impairment
Restructuring
Pre-tax exit costs			3,000
Lanier Apparel Exit Plan \| Fixed asset impairment
Restructuring
Pre-tax exit costs			1,000
Lanier Apparel Exit Plan \| Facility closing
Restructuring
Pre-tax exit costs		1,000	$ 1,000
Gain on sale of property		$ 3,000

Business Combinations (Details) - USD ($) $ in Thousands		12 Months Ended
Business Combinations (Details) - USD ($) $ in Thousands	Sep. 19, 2022	Jan. 28, 2023
Business Combinations
Amount accrued, finalization of working capital estimate		$ 2,000
Johnny Was (JW Holdings, LLC)
Business Combinations
Voting interest (as a percent)	100.00%
Purchase price paid	$ 270,000
Purchase price	271,318
Acquisitions, cash acquired	7,000
Contingent consideration	$ 0
Transaction and integration costs		$ 3,000

Business Combinations - Preliminary allocation of purchase price (Details) - USD ($) $ in Thousands	Jan. 28, 2023	Sep. 19, 2022	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Business Combinations
Goodwill	$ 120,498		$ 23,869	$ 23,910	$ 66,578
Johnny Was (JW Holdings, LLC)
Business Combinations
Cash and cash equivalents		$ 7,296
Receivables		8,777
Inventories		23,434
Prepaid expenses and other assets		6,353
Property and equipment		21,108
Intangible assets		134,640
Goodwill		96,637
Operating lease assets		54,859
Accounts payable, accrued expenses and other liabilities		(34,777)
Non-current portion of operating lease liabilities		(47,009)
Purchase price		$ 271,318
Step-up of acquired inventory from cost to fair value	$ 4,000		$ 4,000

Business Combinations - Intangible asset (Details) - USD ($) $ in Thousands		12 Months Ended
	Sep. 19, 2022	Jan. 28, 2023
Maximum
Business Combinations
Useful life, Finite lived intangible assets		20 years
Johnny Was (JW Holdings, LLC)
Business Combinations
Finite lived intangible assets acquired, primarily consisting of customer relationships	$ 56,740
Trade names and trademarks	77,900
Intangible assets	$ 134,640
Johnny Was (JW Holdings, LLC) \| Minimum
Business Combinations
Useful life, Finite lived intangible assets	8 years
Johnny Was (JW Holdings, LLC) \| Maximum
Business Combinations
Useful life, Finite lived intangible assets	13 years

Business Combinations - Proforma (Details) - USD ($)	12 Months Ended
Business Combinations - Proforma (Details) - USD ($)	Jan. 28, 2023	Jan. 29, 2022
Business Combinations
Net sales	$ 1,546,371	$ 1,327,875
Earnings before income taxes	237,919	169,832
Net earnings	$ 182,380	$ 135,276
Earnings per share:
Basic (in dollars per share)	$ 11.47	$ 8.02
Diluted (in dollars per share)	$ 11.22	$ 8.13
Johnny Was (JW Holdings, LLC)
Earnings per share:
Step-up of acquired inventory from cost to fair value	$ 4,000,000	$ 4,000,000

SCHEDULE II Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Accounts receivable reserves
Deducted from asset accounts:
Balance at Beginning of Period	$ 3,412	$ 6,418	$ 8,766
Additions Charged to Costs and Expenses	2,868	(1,140)	5,629
Charged to Other Accounts	541
Deductions	(2,789)	(1,866)	(7,977)
Balance at End of Period	4,032	3,412	6,418
Allowance for doubtful accounts
Deducted from asset accounts:
Balance at Beginning of Period	1,311	2,580	555
Additions Charged to Costs and Expenses	(262)	(1,190)	4,052
Charged to Other Accounts	200
Deductions	(19)	(79)	(2,027)
Balance at End of Period	$ 1,230	$ 1,311	$ 2,580