Annual report pursuant to Section 13 and 15(d)

REVENUE RECOGNITION (Tables)

v3.20.1
REVENUE RECOGNITION (Tables)
12 Months Ended
Feb. 01, 2020
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]  
Schedule of disaggregation of revenue

The following table sets forth supplemental products and services sales information for the Company (in thousands):

Fiscal Year

 

 

2019

    

2018

    

2017

 

Net sales:

    

    

    

Men's tailored clothing product

$

1,305,913

$

1,385,320

$

1,351,881

Men's non-tailored clothing product

 

971,509

 

988,973

 

1,008,663

Women's clothing product

68,354

 

68,518

 

70,630

Other (1)

 

12,616

 

11,936

 

8,643

Total retail clothing product

 

2,358,392

 

2,454,747

 

2,439,817

Rental services

 

383,521

 

399,146

 

428,355

Alteration services

 

139,348

 

148,067

 

150,005

Retail dry cleaning services (2)

 

 

2,551

 

34,844

Total alteration and other services

 

139,348

 

150,618

 

184,849

Total net sales

$

2,881,261

$

3,004,511

$

3,053,021

(1) Other consists of franchise and licensing revenues and gift card breakage.  Franchise revenues are generally recognized at a point in time while licensing revenues consist primarily of minimum guaranteed royalty amounts recognized over an elapsed time period.
(2) On March 3, 2018, we completed the divestiture of our MW Cleaners business.  See Note 3 for additional information.

Additional net sales information is as follows (in thousands):

Fiscal Year

 

 

2019

    

2018

    

2017

 

Net sales:

    

    

    

Men's Wearhouse(1)

$

1,655,924

$

1,741,983

$

1,742,668

Jos. A. Bank

706,040

722,887

735,149

K&G

 

318,363

 

319,476

 

323,994

Moores

 

200,934

 

217,614

 

216,366

MW Cleaners(2)

 

 

2,551

 

34,844

Total net sales

$

2,881,261

$

3,004,511

$

3,053,021

(1) Consists of Men’s Wearhouse, Men’s Wearhouse and Tux, tuxedo shops within Macy's (all 170 of which were closed during 2017) and Joseph Abboud.
(2) On March 3, 2018, we completed the divestiture of our MW Cleaners business. See Note 3 for additional information.

The table below presents information related to geographic areas in which we operate, with net sales classified based primarily on the geographic area where our customer is located (in thousands):

Fiscal Year

 

    

2019

    

2018

    

2017

 

Net sales:

    

    

    

U.S.

$

2,680,327

$

2,786,897

$

2,836,655

Canada

 

200,934

 

217,614

 

216,366

Total net sales

$

2,881,261

$

3,004,511

$

3,053,021

Schedule of opening and closing balance of contract liabilities

The following table summarizes the opening and closing balances of our contract liabilities (in thousands):

Balance at

Increase

Balance at

    

February 2, 2019

    

(Decrease)

    

February 1, 2020

Contract liabilities

$

121,796

$

(261)

$

121,535

Balance at

Increase

Balance at

    

February 3, 2018

    

(Decrease)

    

February 2, 2019

As Adjusted

Contract liabilities

$

139,809

$

(18,013)

$

121,796

Accounting Standards Update 2014-09  
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]  
Schedule of cumulative effect of changes in adoption of ASU 606

The following table depicts the cumulative effect of the changes made to our February 3, 2018 balance sheet for the adoption of ASC 606 (in thousands):

Reported

Adjusted

Balance at

Impact of

Balance at

February 3,

Adoption of

February 3,

    

2018

    

ASC 606

    

2018

 

Assets:

Accounts receivable, net

$

36,288

$

(303)

$

35,985

Other current assets

 

77,228

 

2,753

 

79,981

Current assets - discontinued operations

182,862

(17,837)

165,025

Liabilities:

Accrued expenses and other current liabilities

246,946

52,673

299,619

Current liabilities - discontinued operations

62,188

(20,295)

41,893

Deferred taxes, net and other liabilities

160,163

(12,555)

147,608

Non-current liabilities - discontinued operations

4,028

614

4,642

Equity:

Accumulated deficit

$

(479,166)

$

(35,824)

$

(514,990)