Financials

Investors

v3.8.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Feb. 03, 2018
Jan. 28, 2017
CURRENT ASSETS:    
Cash and cash equivalents $ 103,607 $ 70,889
Accounts receivable, net 79,783 65,714
Inventories 851,931 955,512
Other current assets 78,252 73,602
Total current assets 1,113,573 1,165,717
PROPERTY AND EQUIPMENT, AT COST:    
Land 19,752 20,689
Buildings 149,880 148,623
Leasehold improvements 620,600 590,897
Furniture, fixtures and equipment 656,094 621,045
Property and Equipment, gross 1,446,326 1,381,254
Less accumulated depreciation and amortization (985,652) (897,089)
PROPERTY AND EQUIPMENT, net 460,674 484,165
RENTAL PRODUCT, net 123,730 152,610
GOODWILL 120,292 117,026
INTANGIBLE ASSETS, net 168,987 171,659
OTHER ASSETS 12,699 6,695
TOTAL ASSETS 1,999,955 2,097,872
CURRENT LIABILITIES:    
Accounts payable 145,106 177,380
Accrued expenses and other current liabilities 285,537 267,899
Income taxes payable 6,121 1,262
Current portion of long-term debt 7,000 13,379
Total current liabilities 443,764 459,920
LONG-TERM DEBT, net 1,389,808 1,582,150
DEFERRED TAXES, net AND OTHER LIABILITIES 164,191 163,420
Total liabilities 1,997,763 2,205,490
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY (DEFICIT):    
Preferred stock, $0.01 par value, 2,000,000 shares authorized, no shares issued
Common stock, $0.01 par value, 100,000,000 shares authorized, 49,287,856 and 48,783,700 shares issued 492 487
Capital in excess of par 491,648 470,801
Accumulated deficit (479,166) (538,823)
Accumulated other comprehensive loss (10,782) (40,083)
Total shareholders' equity (deficit) 2,192 (107,618)
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT) $ 1,999,955 $ 2,097,872

Source

v3.8.0.1
CONSOLIDATED STATEMENTS OF EARNINGS (LOSS) - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Feb. 03, 2018
Jan. 28, 2017
Jan. 30, 2016
Net sales:      
Total net sales $ 3,304,346 $ 3,378,703 $ 3,496,271
Cost of sales:      
Total cost of sales 1,895,580 1,937,235 2,011,848
Gross margin:      
Total gross margin 1,408,766 1,441,468 1,484,423
Advertising expense 173,411 189,956 204,985
Selling, general and administrative expenses 1,000,892 1,099,328 1,085,900
Goodwill and intangible asset impairment charges 1,500   1,243,354
Asset impairment charges 3,547 19,358 27,480
Operating income (loss) 229,416 132,826 (1,077,296)
Interest income 564 167 187
Interest expense (100,471) (103,149) (105,977)
Gain (loss) on extinguishment of debt, net 5,445 1,737 (12,675)
Earnings (loss) before income taxes 134,954 31,581 (1,195,761)
Provision (benefit) for income taxes 38,251 6,625 (169,042)
Net earnings (loss) $ 96,703 $ 24,956 $ (1,026,719)
Net earnings (loss) per common share allocated to common shareholders:      
Basic (in dollars per share) $ 1.97 $ 0.51 $ (21.26)
Diluted (in dollars per share) $ 1.95 $ 0.51 $ (21.26)
Weighted-average common shares outstanding:      
Basic (in shares) 49,094 48,607 48,288
Diluted (in shares) 49,468 48,786 48,288
Retail Segment      
Net sales:      
Retail clothing product $ 2,439,817 $ 2,445,922 $ 2,599,934
Rental services 428,355 457,444 443,290
Alteration and other services 184,849 195,035 209,250
Total net sales 3,053,021 3,098,401 3,252,474
Cost of sales:      
Retail clothing product 1,084,266 1,093,639 1,160,323
Rental services 69,973 82,764 76,726
Alteration and other services 139,840 136,904 145,852
Occupancy costs 415,981 431,298 455,486
Total cost of sales 1,710,060 1,744,605 1,838,387
Gross margin:      
Retail clothing product 1,355,551 1,352,283 1,439,611
Rental services 358,382 374,680 366,564
Alteration and other services 45,009 58,131 63,398
Occupancy costs (415,981) (431,298) (455,486)
Total gross margin 1,342,961 1,353,796 1,414,087
Asset impairment charges 3,500 16,500  
Corporate Apparel Segment      
Net sales:      
Total net sales 251,325 280,302 243,797
Cost of sales:      
Total cost of sales 185,520 192,630 173,461
Gross margin:      
Total gross margin $ 65,805 $ 87,672 $ 70,336

Source

v3.8.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Feb. 03, 2018
Jan. 28, 2017
Jan. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net earnings (loss) $ 96,703 $ 24,956 $ (1,026,719)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:      
Depreciation and amortization 106,493 115,205 132,329
Rental product amortization 38,021 42,171 34,592
Goodwill and intangible asset impairment charges 1,500   1,243,354
(Gain) loss on extinguishment of debt, net (5,445) (1,737) 12,675
Amortization of deferred financing costs and discount on long-term debt 7,066 7,503 7,915
Loss on disposition of assets 1,237 6,396 3,548
Asset impairment charges 3,547 19,358 27,480
Share-based compensation 20,636 17,436 14,839
Excess tax benefits from share-based plans   (11) (1,584)
Deferred tax benefit (5,763) (23,988) (184,841)
Deferred rent expense and other 938 (1,725) 4,066
Changes in operating assets and liabilities:      
Accounts receivable (9,440) (5,593) 8,165
Inventories 114,652 61,707 (94,889)
Rental product (9,582) (41,779) (65,866)
Other assets (5,956) 71,338 (8,815)
Accounts payable, accrued expenses and other current liabilities (10,843) (44,630) 22,953
Income taxes payable 4,650 849 289
Other liabilities 2,354 (4,828) 2,206
Net cash provided by operating activities 350,768 242,628 131,697
CASH FLOWS FROM INVESTING ACTIVITIES:      
Capital expenditures (94,958) (99,694) (115,498)
Acquisition of business, net of cash (457)    
Proceeds from sales of property and equipment 5,480 617 2,617
Net cash used in investing activities (89,935) (99,077) (112,881)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Payments on term loan (53,379) (42,451) (8,000)
Proceeds from asset-based revolving credit facility 276,300 609,537 180,500
Payments on asset-based revolving credit facility (276,300) (609,537) (180,500)
Repurchase and retirement of senior notes (145,371) (21,924)  
Deferred financing costs (2,580)   (3,566)
Cash dividends paid (35,761) (35,240) (34,980)
Proceeds from issuance of common stock 1,903 2,189 2,974
Tax payments related to vested deferred stock units (1,687) (1,362) (4,538)
Excess tax benefits from share-based plans   11 1,584
Repurchases of common stock     (277)
Net cash (used in) provided by financing activities (236,875) (98,777) (46,803)
Effect of exchange rate changes 8,760 (3,865) (4,294)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 32,718 40,909 (32,281)
Balance at beginning of period 70,889 29,980 62,261
Balance at end of period 103,607 70,889 29,980
Cash paid (refunded) for:      
Interest 106,372 96,408 96,994
Income taxes, net 39,537 (39,682) 21,857
Unpaid capital expenditure purchases      
Unpaid capital expenditure purchases $ 2,900 $ 12,200 $ 12,800

Source