Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) EARNINGS

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CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) EARNINGS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Nov. 02, 2019
Nov. 03, 2018
Nov. 02, 2019
Nov. 03, 2018
Net sales:        
Total net sales $ 729,481 $ 751,741 $ 2,190,288 $ 2,274,498
Cost of sales:        
Total cost of sales 421,453 406,247 1,258,510 1,247,168
Gross margin:        
Total gross margin 308,028 345,494 931,778 1,027,330
Advertising expense 34,031 37,116 111,527 116,241
Selling, general and administrative expenses 228,453 233,100 687,414 698,833
Operating income 45,544 75,278 132,837 212,256
Interest income 147 207 400 414
Interest expense (17,572) (18,757) (54,493) (61,602)
Loss on extinguishment of debt, net (77) (9,420) (77) (30,253)
Earnings before income taxes 28,042 47,308 78,667 120,815
Provision for income taxes 254 12,521 14,743 26,018
Net earnings from continuing operations 27,788 34,787 63,924 94,797
Loss from discontinued operations, net of tax (117,378) (20,912) (112,106) (17,775)
Net (loss) earnings $ (89,590) $ 13,875 $ (48,182) $ 77,022
Net earnings from continuing operations per common share:        
Basic (in dollars per share) $ 0.56 $ 0.70 $ 1.27 $ 1.90
Diluted (in dollars per share) 0.56 0.69 1.27 1.87
Net loss from discontinued operations per common share:        
Basic (in dollars per share) (2.36) (0.42) (2.23) (0.36)
Diluted (in dollars per share) (2.35) (0.41) (2.23) (0.35)
Net (loss) earnings per common share:        
Basic (in dollars per share) (1.80) 0.28 (0.96) 1.55
Diluted (in dollars per share) $ (1.80) $ 0.27 $ (0.96) $ 1.52
Weighted-average common shares outstanding:        
Basic (in shares) 49,803 50,000 50,210 49,766
Diluted (in shares) 49,905 50,722 50,372 50,764
Retail clothing product | Retail Segment        
Net sales:        
Total net sales $ 573,854 $ 588,447 $ 1,749,533 $ 1,807,879
Cost of sales:        
Total cost of sales 266,481 254,385 794,970 790,565
Gross margin:        
Total gross margin 307,373 334,062 954,563 1,017,314
Rental services | Retail Segment        
Net sales:        
Total net sales 120,021 124,697 334,090 350,019
Cost of sales:        
Total cost of sales 16,041 17,319 48,831 51,342
Gross margin:        
Total gross margin 103,980 107,378 285,259 298,677
Total alteration and other services | Retail Segment        
Net sales:        
Total net sales 35,606 38,597 106,665 116,600
Cost of sales:        
Total cost of sales 33,151 33,022 100,612 100,949
Gross margin:        
Total gross margin 2,455 5,575 6,053 15,651
Occupancy costs | Retail Segment        
Cost of sales:        
Total cost of sales 105,780 101,521 314,097 304,312
Gross margin:        
Total gross margin $ (105,780) $ (101,521) $ (314,097) $ (304,312)