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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Genesco Inc | NYSE:GCO | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.12 | 0.46% | 26.20 | 26.79 | 25.95 | 26.41 | 121,901 | 01:00:00 |
x
|
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
¨
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Tennessee
|
|
62-0211340
|
(State or other jurisdiction of
incorporation or organization)
|
|
(I.R.S. Employer
Identification No.)
|
Genesco Park, 1415 Murfreesboro Road
Nashville, Tennessee
|
|
37217-2895
|
(Address of principal executive offices)
|
|
(Zip Code)
|
Title of each class
|
|
Name of Exchange
on which Registered
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Common Stock, $1.00 par value
|
|
New York Stock Exchange
|
Large accelerated filer
|
x
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Accelerated filer
|
¨
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Non-accelerated filer
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¨
(Do not check if smaller reporting company)
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|
Smaller reporting company
|
¨
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|
|
|
Emerging Growth company
|
¨
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Page
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Item 16.
|
Form 10-K Summary
|
|
Fiscal
2014
|
|
Fiscal
2015
|
|
Fiscal
2016
|
|
Fiscal
2017
|
|
Fiscal
2018
|
|||||
Retail Stores and Leased Departments
|
|
|
|
|
|
|
|
|
|
|||||
Beginning of year
|
2,459
|
|
|
2,568
|
|
|
2,824
|
|
|
2,852
|
|
|
2,794
|
|
Opened during year
|
183
|
|
|
273
|
|
|
81
|
|
|
81
|
|
|
77
|
|
Acquired during year
|
15
|
|
|
56
|
|
|
37
|
|
|
—
|
|
|
—
|
|
Closed during year
|
(89
|
)
|
|
(73
|
)
|
|
(90
|
)
|
|
(139
|
)
|
|
(177
|
)
|
End of year
|
2,568
|
|
|
2,824
|
|
|
2,852
|
|
|
2,794
|
|
|
2,694
|
|
Location
|
|
Owned/Leased
|
Segment
|
|
Use
|
|
Approximate Area
Square Feet
|
|
|
|
Lebanon, TN
|
|
Owned
|
Journeys Group
|
|
Distribution warehouse and administrative offices
|
|
563,000
|
|
|
|
Indianapolis, IN
|
|
Leased
|
Lids Sports Group
|
|
Distribution warehouse
|
|
311,600
|
|
|
|
Nashville, TN
|
|
Leased
|
Various
|
|
Executive & footwear operations offices
|
|
306,455
|
|
|
*
|
Indianapolis, IN
|
|
Leased/Subleased
|
Lids Sports Group
|
|
Distribution warehouse
|
|
271,825
|
|
|
**
|
Bathgate, Scotland
|
|
Owned
|
Schuh Group
|
|
Distribution warehouse
|
|
244,644
|
|
|
|
Chapel Hill, TN
|
|
Owned
|
Licensed Brands
|
|
Distribution warehouse
|
|
182,000
|
|
|
|
Fayetteville, TN
|
|
Owned
|
Johnston & Murphy Group
|
|
Distribution warehouse
|
|
178,500
|
|
|
|
Zionsville, IN
|
|
Owned
|
Lids Sports Group
|
|
Administrative offices
|
|
150,000
|
|
|
|
Deans Industrial Estate, Livingston, Scotland
|
|
Owned
|
Schuh Group
|
|
Distribution warehouse and administrative offices
|
|
106,813
|
|
|
|
Nashville, TN
|
|
Owned
|
Journeys Group
|
|
Distribution warehouse
|
|
63,000
|
|
|
|
Mississauga, Ontario, Canada
|
|
Leased
|
Lids Sports Group
|
|
Distribution warehouses
|
|
43,611
|
|
|
|
*
|
The Company occupies approximately 97% of the building and subleases the remainder of the building.
|
**
|
The Company occupies approximately 25% of the building and subleases the remainder of the building.
|
•
|
our ability to negotiate favorable lease terms for new stores and renewals (including rent and other costs) with landlords in part due to the consolidation in the commercial real estate market;
|
•
|
our ability to obtain governmental and other third-party consents, permits and licenses needed to construct and operate our stores;
|
•
|
our ability to adapt our distribution and other operational and management systems to an expanded network of stores;
|
•
|
imposition of additional cargo or safeguard measures;
|
•
|
denial by the United States of “most favored nation” trading status to or the imposition of quotas or other restriction on imports from a foreign country from which we purchase goods;
|
|
High
|
|
Low
|
||||
1st Quarter
|
$
|
72.63
|
|
|
$
|
60.81
|
|
2nd Quarter
|
69.94
|
|
|
57.23
|
|
||
3rd Quarter
|
74.21
|
|
|
47.66
|
|
||
4th Quarter
|
72.00
|
|
|
51.91
|
|
|
High
|
|
Low
|
||||
1st Quarter
|
$
|
63.50
|
|
|
$
|
49.85
|
|
2nd Quarter
|
55.30
|
|
|
28.88
|
|
||
3rd Quarter
|
33.75
|
|
|
20.90
|
|
||
4th Quarter
|
37.05
|
|
|
23.25
|
|
In Thousands except per common share data, Financial Statistics and Other Data (End of Year)
|
Fiscal Year End
|
||||||||||||||||||
|
2018
|
|
2017
|
|
2016
|
|
2015
|
|
2014
|
||||||||||
Results of Operations Data
|
|
|
|
|
|
|
|
|
|
||||||||||
Net sales
|
$
|
2,907,016
|
|
|
$
|
2,868,341
|
|
|
$
|
3,022,234
|
|
|
$
|
2,859,844
|
|
|
$
|
2,624,972
|
|
Depreciation and amortization
|
78,326
|
|
|
75,768
|
|
|
79,011
|
|
|
74,326
|
|
|
67,135
|
|
|||||
Earnings (loss) from operations
|
(96,249
|
)
|
|
141,960
|
|
|
151,251
|
|
|
167,266
|
|
|
163,435
|
|
|||||
Earnings (loss) from continuing operations before income taxes
|
(101,661
|
)
|
|
151,414
|
|
|
151,533
|
|
|
156,989
|
|
|
158,860
|
|
|||||
Earnings (loss) from continuing operations
|
(111,430
|
)
|
|
97,859
|
|
|
95,381
|
|
|
99,373
|
|
|
92,982
|
|
|||||
Provision for discontinued operations, net
|
(409
|
)
|
|
(428
|
)
|
|
(812
|
)
|
|
(1,648
|
)
|
|
(329
|
)
|
|||||
Net earnings (loss)
|
$
|
(111,839
|
)
|
|
$
|
97,431
|
|
|
$
|
94,569
|
|
|
$
|
97,725
|
|
|
$
|
92,653
|
|
Per Common Share Data
|
|
|
|
|
|
|
|
|
|
||||||||||
Earnings (loss) from continuing operations
|
|
|
|
|
|
|
|
|
|
||||||||||
Basic
|
$
|
(5.80
|
)
|
|
$
|
4.87
|
|
|
$
|
4.17
|
|
|
$
|
4.23
|
|
|
$
|
3.99
|
|
Diluted
|
(5.80
|
)
|
|
4.85
|
|
|
4.15
|
|
|
4.19
|
|
|
3.94
|
|
|||||
Discontinued operations
|
|
|
|
|
|
|
|
|
|
||||||||||
Basic
|
(0.02
|
)
|
|
(0.02
|
)
|
|
(0.04
|
)
|
|
(0.07
|
)
|
|
(0.01
|
)
|
|||||
Diluted
|
(0.02
|
)
|
|
(0.02
|
)
|
|
(0.04
|
)
|
|
(0.07
|
)
|
|
(0.02
|
)
|
|||||
Net earnings (loss)
|
|
|
|
|
|
|
|
|
|
||||||||||
Basic
|
(5.82
|
)
|
|
4.85
|
|
|
4.13
|
|
|
4.16
|
|
|
3.98
|
|
|||||
Diluted
|
(5.82
|
)
|
|
4.83
|
|
|
4.11
|
|
|
4.12
|
|
|
3.92
|
|
|||||
Balance Sheet and Cash Flow Data
|
|
|
|
|
|
|
|
|
|
||||||||||
Total assets**
|
$
|
1,315,353
|
|
|
$
|
1,440,999
|
|
|
$
|
1,540,057
|
|
|
$
|
1,578,991
|
|
|
$
|
1,437,131
|
|
Long-term debt
|
88,385
|
|
|
82,905
|
|
|
111,765
|
|
|
28,958
|
|
|
33,433
|
|
|||||
Non-redeemable preferred stock
|
1,052
|
|
|
1,060
|
|
|
1,077
|
|
|
1,274
|
|
|
1,305
|
|
|||||
Common equity
|
828,122
|
|
|
919,993
|
|
|
954,079
|
|
|
995,533
|
|
|
914,885
|
|
|||||
Capital expenditures
|
127,853
|
|
|
93,970
|
|
|
100,652
|
|
|
103,111
|
|
|
98,456
|
|
|||||
Financial Statistics
|
|
|
|
|
|
|
|
|
|
||||||||||
Earnings (loss) from operations as a percent of net sales
|
(3.3
|
)%
|
|
4.9
|
%
|
|
5.0
|
%
|
|
5.8
|
%
|
|
6.2
|
%
|
|||||
Book value per share (common equity divided by common shares outstanding)
|
$
|
41.61
|
|
|
$
|
46.31
|
|
|
$
|
43.70
|
|
|
$
|
41.43
|
|
|
$
|
38.25
|
|
Working capital (in thousands)**
|
$
|
438,020
|
|
|
$
|
407,587
|
|
|
$
|
447,504
|
|
|
$
|
413,449
|
|
|
$
|
428,208
|
|
Current ratio**
|
2.7
|
|
|
2.3
|
|
|
2.4
|
|
|
2.0
|
|
|
2.4
|
|
|||||
Percent long-term debt to total capitalization
|
9.6
|
%
|
|
8.2
|
%
|
|
10.5
|
%
|
|
2.8
|
%
|
|
3.5
|
%
|
|||||
Other Data (End of Year)
|
|
|
|
|
|
|
|
|
|
||||||||||
Number of retail outlets*
|
2,694
|
|
|
2,794
|
|
|
2,852
|
|
|
2,824
|
|
|
2,568
|
|
|||||
Number of employees
|
30,500
|
|
|
31,400
|
|
|
27,500
|
|
|
27,325
|
|
|
22,250
|
|
*
|
Includes 36 Little Burgundy stores added in Fiscal 2016 that were acquired on November 3, 2015. Also includes 122, 151,185, 190 and 26 Locker Room by Lids leased departments in Macy's stores in Fiscal 2018, 2017, 2016, 2015 and 2014, respectively.
|
|
Fiscal Year Ended
|
|
%
Change
|
|||||||
|
2018
|
|
2017
|
|
||||||
|
(dollars in thousands)
|
|
|
|||||||
Net sales
|
$
|
1,329,460
|
|
|
$
|
1,251,646
|
|
|
6.2
|
%
|
Earnings from operations
|
$
|
76,094
|
|
|
$
|
85,875
|
|
|
(11.4
|
)%
|
Operating margin
|
5.7
|
%
|
|
6.9
|
%
|
|
|
|
Fiscal Year Ended
|
|
%
Change
|
|||||||
|
2018
|
|
2017
|
|
||||||
|
(dollars in thousands)
|
|
|
|||||||
Net sales
|
$
|
403,698
|
|
|
$
|
372,872
|
|
|
8.3
|
%
|
Earnings from operations
|
$
|
20,104
|
|
|
$
|
20,530
|
|
|
(2.1
|
)%
|
Operating margin
|
5.0
|
%
|
|
5.5
|
%
|
|
|
|
Fiscal Year Ended
|
|
%
Change
|
|||||||
|
2018
|
|
2017
|
|
||||||
|
(dollars in thousands)
|
|
|
|||||||
Net sales
|
$
|
779,469
|
|
|
$
|
847,510
|
|
|
(8.0
|
)%
|
Earnings from operations
|
$
|
11,684
|
|
|
$
|
41,563
|
|
|
(71.9
|
)%
|
Operating margin
|
1.5
|
%
|
|
4.9
|
%
|
|
|
|
Fiscal Year Ended
|
|
%
Change
|
|||||||
|
2018
|
|
2017
|
|
||||||
|
(dollars in thousands)
|
|
|
|||||||
Net sales
|
$
|
304,160
|
|
|
$
|
289,324
|
|
|
5.1
|
%
|
Earnings from operations
|
$
|
20,047
|
|
|
$
|
19,682
|
|
|
1.9
|
%
|
Operating margin
|
6.6
|
%
|
|
6.8
|
%
|
|
|
|
Fiscal Year Ended
|
|
%
Change
|
|||||||
|
2018
|
|
2017
|
|
||||||
|
(dollars in thousands)
|
|
|
|||||||
Net sales
|
$
|
89,809
|
|
|
$
|
106,372
|
|
|
(15.6
|
)%
|
Earnings (loss) from operations
|
$
|
(163
|
)
|
|
$
|
4,566
|
|
|
NM
|
|
Operating margin
|
(0.2
|
)%
|
|
4.3
|
%
|
|
|
|
Fiscal Year Ended
|
|
%
Change
|
|||||||
|
2017
|
|
2016
|
|
||||||
|
(dollars in thousands)
|
|
|
|||||||
Net sales
|
$
|
1,251,646
|
|
|
$
|
1,251,637
|
|
|
—
|
%
|
Earnings from operations
|
$
|
85,875
|
|
|
$
|
126,248
|
|
|
(32.0
|
)%
|
Operating margin
|
6.9
|
%
|
|
10.1
|
%
|
|
|
|
Fiscal Year Ended
|
|
%
Change
|
|||||||
|
2017
|
|
2016
|
|
||||||
|
(dollars in thousands)
|
|
|
|||||||
Net sales
|
$
|
372,872
|
|
|
$
|
405,674
|
|
|
(8.1
|
)%
|
Earnings from operations
|
$
|
20,530
|
|
|
$
|
19,124
|
|
|
7.4
|
%
|
Operating margin
|
5.5
|
%
|
|
4.7
|
%
|
|
|
|
Fiscal Year Ended
|
|
%
Change
|
|||||||
|
2017
|
|
2016
|
|
||||||
|
(dollars in thousands)
|
|
|
|||||||
Net sales
|
$
|
847,510
|
|
|
$
|
975,504
|
|
|
(13.1
|
)%
|
Earnings from operations
|
$
|
41,563
|
|
|
$
|
17,040
|
|
|
143.9
|
%
|
Operating margin
|
4.9
|
%
|
|
1.7
|
%
|
|
|
|
Fiscal Year Ended
|
|
%
Change
|
|||||||
|
2017
|
|
2016
|
|
||||||
|
(dollars in thousands)
|
|
|
|||||||
Net sales
|
$
|
289,324
|
|
|
$
|
278,681
|
|
|
3.8
|
%
|
Earnings from operations
|
$
|
19,682
|
|
|
$
|
17,761
|
|
|
10.8
|
%
|
Operating margin
|
6.8
|
%
|
|
6.4
|
%
|
|
|
|
Fiscal Year Ended
|
|
%
Change
|
|||||||
|
2017
|
|
2016
|
|
||||||
|
(dollars in thousands)
|
|
|
|||||||
Net sales
|
$
|
106,372
|
|
|
$
|
109,826
|
|
|
(3.1
|
)%
|
Earnings from operations
|
$
|
4,566
|
|
|
$
|
9,236
|
|
|
(50.6
|
)%
|
Operating margin
|
4.3
|
%
|
|
8.4
|
%
|
|
|
|
Feb. 3, 2018
|
|
Jan. 28, 2017
|
|
Jan. 30, 2016
|
||||||
|
(dollars in millions)
|
||||||||||
Cash and cash equivalents
|
$
|
39.9
|
|
|
$
|
48.3
|
|
|
$
|
133.3
|
|
Working capital
|
$
|
438.0
|
|
|
$
|
407.6
|
|
|
$
|
447.5
|
|
Long-term debt (includes current maturities)
|
$
|
88.4
|
|
|
$
|
82.9
|
|
|
$
|
111.8
|
|
(in thousands)
|
Payments Due by Period
|
||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Contractual Obligations
|
Total
|
|
Less than 1
year
|
|
1 - 3
years
|
|
3 - 5
years
|
|
More
than 5
years
|
||||||||||
Long-Term Debt Obligations
|
$
|
88,385
|
|
|
$
|
1,766
|
|
|
$
|
17,247
|
|
|
$
|
69,372
|
|
|
$
|
—
|
|
Operating Lease Obligations
|
1,453,503
|
|
|
256,249
|
|
|
437,064
|
|
|
347,590
|
|
|
412,600
|
|
|||||
Purchase Obligations
(1)
|
661,277
|
|
|
661,277
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Transition tax payable
|
4,461
|
|
|
357
|
|
|
714
|
|
|
714
|
|
|
2,676
|
|
|||||
Long-Term Obligations – Schuh
(2)
|
361
|
|
|
230
|
|
|
131
|
|
|
—
|
|
|
—
|
|
|||||
Other Long-Term Liabilities
|
1,011
|
|
|
175
|
|
|
349
|
|
|
349
|
|
|
138
|
|
|||||
Total Contractual Obligations
(3)
|
$
|
2,208,998
|
|
|
$
|
920,054
|
|
|
$
|
455,505
|
|
|
$
|
418,025
|
|
|
$
|
415,414
|
|
(in thousands)
|
Amount of Commitment Expiration Per Period
|
||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Commercial Commitments
|
Total Amounts
Committed
|
|
Less than 1
year
|
|
1 - 3
years
|
|
3 - 5
years
|
|
More
than 5
years
|
||||||||||
Letters of Credit
|
$
|
11,262
|
|
|
$
|
11,262
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Total Commercial Commitments
|
$
|
11,262
|
|
|
$
|
11,262
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
|
|
Page
|
Report of Independent Registered Public Accounting Firm
|
|
/s/ Ernst & Young LLP
|
|
Nashville, Tennessee
|
|
April 4, 2018
|
|
/s/ Ernst & Young LLP
|
|
|
|
We have served as the Company's auditor since 2001.
|
|
Nashville, Tennessee
|
|
April 4, 2018
|
|
|
As of Fiscal Year End
|
||||||
Assets
|
February 3, 2018
|
|
January 28, 2017
|
||||
Current Assets:
|
|||||||
Cash and cash equivalents
|
$
|
39,937
|
|
|
$
|
48,301
|
|
Accounts receivable, net of allowances of $4,593 at February 3,
|
|
|
|
||||
2018 and $3,073 at January 28, 2017
|
43,292
|
|
|
43,525
|
|
||
Inventories
|
542,625
|
|
|
563,677
|
|
||
Prepaids and other current assets
|
67,234
|
|
|
61,470
|
|
||
Total current assets
|
693,088
|
|
|
716,973
|
|
||
|
|
|
|
||||
Property and equipment:
|
|
|
|
||||
Land
|
8,065
|
|
|
7,773
|
|
||
Buildings and building equipment
|
79,587
|
|
|
52,673
|
|
||
Computer hardware, software and equipment
|
213,335
|
|
|
179,948
|
|
||
Furniture and fixtures
|
179,008
|
|
|
167,881
|
|
||
Construction in progress
|
33,625
|
|
|
33,660
|
|
||
Improvements to leased property
|
440,719
|
|
|
410,116
|
|
||
Property and equipment, at cost
|
954,339
|
|
|
852,051
|
|
||
Accumulated depreciation
|
(571,710
|
)
|
|
(521,440
|
)
|
||
Property and equipment, net
|
382,629
|
|
|
330,611
|
|
||
Deferred income taxes
|
25,077
|
|
|
13,372
|
|
||
Goodwill
|
100,308
|
|
|
271,222
|
|
||
Trademarks, net of accumulated amortization of $5,593 at
|
|
|
|
||||
February 3, 2018 and $5,574 at January 28, 2017
|
87,898
|
|
|
84,327
|
|
||
Other intangibles, net of accumulated amortization of $17,439 at
|
|
|
|
||||
February 3, 2018 and $16,200 at January 28, 2017
|
1,794
|
|
|
2,392
|
|
||
Other noncurrent assets
|
24,559
|
|
|
22,102
|
|
||
Total Assets
|
$
|
1,315,353
|
|
|
$
|
1,440,999
|
|
|
As of Fiscal Year End
|
||||||
Liabilities and Equity
|
February 3, 2018
|
|
January 28, 2017
|
||||
Current Liabilities:
|
|
|
|
||||
Accounts payable
|
$
|
140,962
|
|
|
$
|
170,751
|
|
Accrued employee compensation
|
20,616
|
|
|
31,128
|
|
||
Accrued other taxes
|
16,114
|
|
|
23,101
|
|
||
Accrued income taxes
|
1,488
|
|
|
7,568
|
|
||
Current portion – long-term debt
|
1,766
|
|
|
9,175
|
|
||
Other accrued liabilities
|
72,220
|
|
|
64,333
|
|
||
Provision for discontinued operations
|
1,902
|
|
|
3,330
|
|
||
Total current liabilities
|
255,068
|
|
|
309,386
|
|
||
Long-term debt
|
86,619
|
|
|
73,730
|
|
||
Pension liability
|
—
|
|
|
6,265
|
|
||
Deferred rent and other long-term liabilities
|
141,255
|
|
|
127,384
|
|
||
Provision for discontinued operations
|
1,707
|
|
|
1,713
|
|
||
Total liabilities
|
484,649
|
|
|
518,478
|
|
||
Commitments and contingent liabilities
|
|
|
|
|
|
||
Equity
|
|
|
|
||||
Non-redeemable preferred stock
|
1,052
|
|
|
1,060
|
|
||
Common equity:
|
|
|
|
||||
Common stock, $1 par value:
|
|
|
|
||||
Authorized: 80,000,000 shares
|
|
|
|
||||
Issued/Outstanding:
|
|
|
|
||||
February 3, 2018 – 20,392,253/19,903,789
|
|
|
|
||||
January 28, 2017 – 20,354,272/19,865,808
|
20,392
|
|
|
20,354
|
|
||
Additional paid-in capital
|
250,877
|
|
|
237,677
|
|
||
Retained earnings
|
603,902
|
|
|
731,111
|
|
||
Accumulated other comprehensive loss
|
(29,192
|
)
|
|
(51,292
|
)
|
||
Treasury shares, at cost
(488,464 shares)
|
(17,857
|
)
|
|
(17,857
|
)
|
||
Total Genesco equity
|
829,174
|
|
|
921,053
|
|
||
Noncontrolling interest – non-redeemable
|
1,530
|
|
|
1,468
|
|
||
Total equity
|
830,704
|
|
|
922,521
|
|
||
Total Liabilities and Equity
|
$
|
1,315,353
|
|
|
$
|
1,440,999
|
|
|
Fiscal Year
|
|||||||||
|
|
2018
|
|
2017
|
|
2016
|
|
|||
Net sales
|
|
$
|
2,907,016
|
|
$
|
2,868,341
|
|
$
|
3,022,234
|
|
Cost of sales
|
|
1,490,894
|
|
1,450,815
|
|
1,578,768
|
|
|||
Selling and administrative expenses
|
|
1,321,319
|
|
1,276,368
|
|
1,284,322
|
|
|||
Goodwill impairment
|
|
182,211
|
|
—
|
|
—
|
|
|||
Asset impairments and other, net
|
|
8,841
|
|
(802
|
)
|
7,893
|
|
|||
Earnings (loss) from operations
|
|
(96,249
|
)
|
141,960
|
|
151,251
|
|
|||
Gain on sale of SureGrip Footwear
|
|
—
|
|
(12,297
|
)
|
—
|
|
|||
Gain on sale of Lids Team Sports
|
|
—
|
|
(2,404
|
)
|
(4,685
|
)
|
|||
Interest expense, net:
|
|
|
|
|
||||||
Interest expense
|
|
5,420
|
|
5,294
|
|
4,414
|
|
|||
Interest income
|
|
(8
|
)
|
(47
|
)
|
(11
|
)
|
|||
Total interest expense, net
|
|
5,412
|
|
5,247
|
|
4,403
|
|
|||
Earnings (loss) from continuing operations before income taxes
|
|
(101,661
|
)
|
151,414
|
|
151,533
|
|
|||
Income tax expense
|
|
9,769
|
|
53,555
|
|
56,152
|
|
|||
Earnings (loss) from continuing operations
|
|
(111,430
|
)
|
97,859
|
|
95,381
|
|
|||
Provision for discontinued operations, net
|
|
(409
|
)
|
(428
|
)
|
(812
|
)
|
|||
Net Earnings (Loss)
|
|
$
|
(111,839
|
)
|
$
|
97,431
|
|
$
|
94,569
|
|
|
|
|
|
|
||||||
Basic earnings (loss) per common share:
|
|
|
|
|
||||||
Continuing operations
|
|
$
|
(5.80
|
)
|
$
|
4.87
|
|
$
|
4.17
|
|
Discontinued operations
|
|
(0.02
|
)
|
(0.02
|
)
|
(0.04
|
)
|
|||
Net earnings (loss)
|
|
$
|
(5.82
|
)
|
$
|
4.85
|
|
$
|
4.13
|
|
Diluted earnings (loss) per common share:
|
|
|
|
|
||||||
Continuing operations
|
|
$
|
(5.80
|
)
|
$
|
4.85
|
|
$
|
4.15
|
|
Discontinued operations
|
|
(0.02
|
)
|
(0.02
|
)
|
(0.04
|
)
|
|||
Net earnings (loss)
|
|
$
|
(5.82
|
)
|
$
|
4.83
|
|
$
|
4.11
|
|
|
Fiscal Year
|
||||||||
|
2018
|
2017
|
2016
|
||||||
Net earnings (loss)
|
$
|
(111,839
|
)
|
$
|
97,431
|
|
$
|
94,569
|
|
Other comprehensive income (loss):
|
|
|
|
||||||
Pension liability adjustment net of tax of $1.9 million,
|
|
|
|
||||||
$2.4 million and $6.3 million for 2018, 2017 and
|
|
|
|
||||||
2016, respectively
|
5,189
|
|
3,618
|
|
9,756
|
|
|||
Postretirement liability adjustment net of tax of $0.1
|
|
|
|
||||||
million for 2018 and $0.4 million each for 2017 and 2016
|
(376
|
)
|
(674
|
)
|
666
|
|
|||
Stranded tax effect from tax reform
|
(2,234
|
)
|
—
|
|
—
|
|
|||
Foreign currency translation adjustments
|
19,521
|
|
(11,623
|
)
|
(12,459
|
)
|
|||
Total other comprehensive income (loss)
|
22,100
|
|
(8,679
|
)
|
(2,037
|
)
|
|||
Comprehensive Income (Loss)
|
$
|
(89,739
|
)
|
$
|
88,752
|
|
$
|
92,532
|
|
|
Fiscal Year
|
||||||||
|
2018
|
|
2017
|
|
2016
|
|
|||
CASH FLOWS FROM OPERATING ACTIVITIES:
|
|
|
|
||||||
Net earnings (loss)
|
$
|
(111,839
|
)
|
$
|
97,431
|
|
$
|
94,569
|
|
Adjustments to reconcile net earnings (loss) to net cash
|
|
|
|
||||||
provided by operating activities:
|
|
|
|
||||||
Depreciation and amortization
|
78,326
|
|
75,768
|
|
79,011
|
|
|||
Amortization of deferred note expense and debt discount
|
747
|
|
839
|
|
820
|
|
|||
Deferred income taxes
|
(15,584
|
)
|
5,394
|
|
(2,125
|
)
|
|||
Provision for accounts receivable
|
853
|
|
442
|
|
637
|
|
|||
Impairment of goodwill
|
182,211
|
|
—
|
|
—
|
|
|||
Impairment of long-lived assets
|
2,670
|
|
6,409
|
|
3,125
|
|
|||
Restricted stock expense
|
13,505
|
|
13,481
|
|
13,758
|
|
|||
Provision for discontinued operations
|
552
|
|
701
|
|
1,333
|
|
|||
Gain on sale of business
|
—
|
|
(14,701
|
)
|
(4,685
|
)
|
|||
Loss on pension buyout
|
—
|
|
2,456
|
|
—
|
|
|||
Other
|
1,857
|
|
1,599
|
|
3,708
|
|
|||
Effect on cash from changes in working capital and other
|
|
|
|
||||||
assets and liabilities, net of acquisitions/dispositions:
|
|
|
|
||||||
Accounts receivable
|
835
|
|
1,362
|
|
(6,669
|
)
|
|||
Inventories
|
31,606
|
|
(45,396
|
)
|
27,827
|
|
|||
Prepaids and other current assets
|
(4,025
|
)
|
(2,258
|
)
|
(8,879
|
)
|
|||
Accounts payable
|
(7,337
|
)
|
24,527
|
|
2,505
|
|
|||
Other accrued liabilities
|
(22,339
|
)
|
(12,867
|
)
|
(66,482
|
)
|
|||
Other assets and liabilities
|
12,553
|
|
10,062
|
|
11,223
|
|
|||
Net cash provided by operating activities
|
164,591
|
|
165,249
|
|
149,676
|
|
|||
CASH FLOWS FROM INVESTING ACTIVITIES:
|
|
|
|
||||||
Capital expenditures
|
(127,853
|
)
|
(93,970
|
)
|
(100,652
|
)
|
|||
Acquisitions, net of cash acquired
|
—
|
|
(22
|
)
|
(35,063
|
)
|
|||
Proceeds from asset sales and sale of businesses
|
252
|
|
23,053
|
|
59,915
|
|
|||
Net cash used in investing activities
|
(127,601
|
)
|
(70,939
|
)
|
(75,800
|
)
|
|||
CASH FLOWS FROM FINANCING ACTIVITIES:
|
|
|
|
||||||
Payments of long-term debt
|
(9,289
|
)
|
(6,591
|
)
|
(24,920
|
)
|
|||
Proceeds from issuance of long-term debt
|
—
|
|
—
|
|
27,417
|
|
|||
Borrowings under revolving credit facility
|
515,560
|
|
340,920
|
|
401,276
|
|
|||
Payments on revolving credit facility
|
(508,875
|
)
|
(357,685
|
)
|
(311,067
|
)
|
|||
Shares repurchased
|
(17,879
|
)
|
(143,934
|
)
|
(142,056
|
)
|
|||
Change in overdraft balances
|
(22,498
|
)
|
(8,349
|
)
|
(600
|
)
|
|||
Additions to deferred note cost
|
(1,429
|
)
|
—
|
|
(655
|
)
|
|||
Exercise of stock options
|
—
|
|
1,018
|
|
1,442
|
|
|||
Other
|
(3,000
|
)
|
(3,594
|
)
|
(2,950
|
)
|
|||
Net cash used in financing activities
|
(47,410
|
)
|
(178,215
|
)
|
(52,113
|
)
|
|||
Effect of foreign exchange rate fluctuations on cash
|
2,056
|
|
(1,082
|
)
|
(1,342
|
)
|
|||
Net Increase (Decrease) in Cash and Cash Equivalents
|
(8,364
|
)
|
(84,987
|
)
|
20,421
|
|
|||
Cash and cash equivalents at beginning of year
|
48,301
|
|
133,288
|
|
112,867
|
|
|||
Cash and cash equivalents at end of year
|
$
|
39,937
|
|
$
|
48,301
|
|
$
|
133,288
|
|
Net cash paid for:
|
|
|
|
||||||
Interest
|
$
|
5,350
|
|
$
|
4,263
|
|
$
|
3,408
|
|
Income taxes
|
37,471
|
|
52,384
|
|
58,940
|
|
In Thousands
|
Non-Redeemable Preferred Stock
|
|
|
Common
Stock
|
|
|
Additional
Paid-In
Capital
|
|
|
Retained
Earnings
|
|
|
Accumulated
Other
Comprehensive Loss
|
|
|
Treasury
Shares
|
|
|
Non Controlling
Interest
Non-Redeemable
|
|
|
Total
Equity
|
|
||||||||
Balance January 31, 2015
|
$
|
1,274
|
|
|
$
|
24,515
|
|
|
$
|
208,888
|
|
|
$
|
820,563
|
|
|
$
|
(40,576
|
)
|
|
$
|
(17,857
|
)
|
|
$
|
1,970
|
|
|
$
|
998,777
|
|
Net earnings
|
—
|
|
|
—
|
|
|
—
|
|
|
94,569
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
94,569
|
|
||||||||
Other comprehensive loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2,037
|
)
|
|
—
|
|
|
—
|
|
|
(2,037
|
)
|
||||||||
Exercise of stock options
|
—
|
|
|
35
|
|
|
1,273
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,308
|
|
||||||||
Issue shares – Employee Stock Purchase Plan
|
—
|
|
|
3
|
|
|
131
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
134
|
|
||||||||
Employee and non-employee restricted stock
|
—
|
|
|
—
|
|
|
13,758
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
13,758
|
|
||||||||
Restricted stock issuance
|
—
|
|
|
239
|
|
|
(239
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
Restricted shares withheld for taxes
|
—
|
|
|
(66
|
)
|
|
66
|
|
|
(4,408
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(4,408
|
)
|
||||||||
Tax benefit of stock options and
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
restricted stock exercised
|
—
|
|
|
—
|
|
|
(90
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(90
|
)
|
||||||||
Shares repurchased
|
—
|
|
|
(2,383
|
)
|
|
—
|
|
|
(142,502
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(144,885
|
)
|
||||||||
Other
|
(197
|
)
|
|
(20
|
)
|
|
217
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
Noncontrolling interest – loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(343
|
)
|
|
(343
|
)
|
||||||||
Balance January 30, 2016
|
1,077
|
|
|
22,323
|
|
|
224,004
|
|
|
768,222
|
|
|
(42,613
|
)
|
|
(17,857
|
)
|
|
1,627
|
|
|
956,783
|
|
||||||||
Net earnings
|
—
|
|
|
—
|
|
|
—
|
|
|
97,431
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
97,431
|
|
||||||||
Other comprehensive loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(8,679
|
)
|
|
—
|
|
|
—
|
|
|
(8,679
|
)
|
||||||||
Exercise of stock options
|
—
|
|
|
27
|
|
|
991
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,018
|
|
||||||||
Employee and non-employee restricted stock
|
—
|
|
|
—
|
|
|
13,481
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
13,481
|
|
||||||||
Restricted stock issuance
|
—
|
|
|
236
|
|
|
(236
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
Restricted shares withheld for taxes
|
—
|
|
|
(56
|
)
|
|
56
|
|
|
(3,435
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(3,435
|
)
|
||||||||
Tax benefit of stock options and
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
restricted stock exercised
|
—
|
|
|
—
|
|
|
(657
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(657
|
)
|
||||||||
Shares repurchased
|
—
|
|
|
(2,156
|
)
|
|
—
|
|
|
(131,107
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(133,263
|
)
|
||||||||
Other
|
(17
|
)
|
|
(20
|
)
|
|
38
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
||||||||
Noncontrolling interest – loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(159
|
)
|
|
(159
|
)
|
||||||||
Balance January 28, 2017
|
1,060
|
|
|
20,354
|
|
|
237,677
|
|
|
731,111
|
|
|
(51,292
|
)
|
|
(17,857
|
)
|
|
1,468
|
|
|
922,521
|
|
||||||||
Net loss
|
|
|
—
|
|
|
—
|
|
|
(111,839
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(111,839
|
)
|
|||||||||
Other comprehensive income
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
22,100
|
|
|
—
|
|
|
—
|
|
|
22,100
|
|
||||||||
Employee and non-employee restricted stock
|
—
|
|
|
—
|
|
|
13,505
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
13,505
|
|
||||||||
Restricted stock issuance
|
—
|
|
|
357
|
|
|
(357
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
Restricted shares withheld for taxes
|
—
|
|
|
(51
|
)
|
|
51
|
|
|
(1,716
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1,716
|
)
|
||||||||
Shares repurchased
|
—
|
|
|
(275
|
)
|
|
—
|
|
|
(15,888
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(16,163
|
)
|
||||||||
Stranded tax effect from tax reform
|
—
|
|
|
—
|
|
|
—
|
|
|
2,234
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,234
|
|
||||||||
Other
|
(8
|
)
|
|
7
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
Noncontrolling interest – gain
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
62
|
|
|
62
|
|
||||||||
Balance February 3, 2018
|
$
|
1,052
|
|
|
$
|
20,392
|
|
|
$
|
250,877
|
|
|
$
|
603,902
|
|
|
$
|
(29,192
|
)
|
|
$
|
(17,857
|
)
|
|
$
|
1,530
|
|
|
$
|
830,704
|
|
Buildings and building equipment
|
20-45 years
|
Computer hardware, software and equipment
|
3-10 years
|
Furniture and fixtures
|
10 years
|
In thousands
|
February 3, 2018
|
|
January 28, 2017
|
||||||||||||
|
Carrying
Amount
|
|
Fair
Value
|
|
Carrying
Amount
|
|
Fair
Value
|
||||||||
U.S. Revolver Borrowings
|
$
|
69,372
|
|
|
$
|
69,421
|
|
|
$
|
49,879
|
|
|
$
|
50,396
|
|
UK Term Loans
|
11,419
|
|
|
11,602
|
|
|
19,230
|
|
|
19,541
|
|
||||
UK Revolver Borrowings
|
7,594
|
|
|
7,671
|
|
|
13,796
|
|
|
13,956
|
|
|
|
Foreign Currency Translation
|
Unrecognized Pension/Postretirement Benefit Costs
|
Total Accumulated Other Comprehensive Income (Loss)
|
||||||
(In thousands)
|
|
|
|
|
||||||
Balance January 28, 2017
|
|
$
|
(40,329
|
)
|
$
|
(10,963
|
)
|
$
|
(51,292
|
)
|
Other comprehensive income (loss) before reclassifications:
|
|
|
|
|
||||||
Foreign currency translation adjustment
|
|
18,024
|
|
—
|
|
18,024
|
|
|||
Gain on intra-entity foreign currency transactions
|
|
|
|
|
||||||
(long-term investment nature)
|
|
1,497
|
|
—
|
|
1,497
|
|
|||
Net actuarial gain
|
|
—
|
|
5,654
|
|
5,654
|
|
|||
Amounts reclassified from AOCI:
|
|
|
|
|
||||||
Amortization of net actuarial loss (1)
|
|
—
|
|
973
|
|
973
|
|
|||
Stranded tax effect from tax reform (2)
|
|
—
|
|
(2,234
|
)
|
(2,234
|
)
|
|||
Income tax expense
|
|
—
|
|
1,814
|
|
1,814
|
|
|||
Current period other comprehensive income, net of tax
|
|
19,521
|
|
2,579
|
|
22,100
|
|
|||
Balance February 3, 2018
|
|
$
|
(20,808
|
)
|
$
|
(8,384
|
)
|
$
|
(29,192
|
)
|
(In Thousands)
|
Lids Sports Group
|
Schuh Group
|
Journeys Group
|
Total Goodwill
|
|||||||
Balance, January 28, 2017
|
$
|
181,628
|
|
$79,769
|
$9,825
|
$
|
271,222
|
|
|||
Impairment charge
|
(182,211
|
)
|
—
|
|
—
|
|
(182,211
|
)
|
|||
Effect of foreign currency exchange rates
|
583
|
|
10,146
|
|
568
|
|
$
|
11,297
|
|
||
Balance, February 3, 2018
|
$
|
—
|
|
$
|
89,915
|
|
10,393
|
|
$
|
100,308
|
|
|
Leases
|
Customer Lists
|
Other*
|
Total
|
||||||||||||||||||||
In thousands
|
Feb. 3, 2018
|
|
Jan. 28,
2017
|
|
Feb. 3, 2018
|
|
Jan. 28,
2017
|
|
Feb. 3, 2018
|
|
Jan. 28,
2017
|
|
Feb. 3, 2018
|
|
Jan. 28,
2017
|
|
||||||||
Gross other intangibles
|
$
|
14,981
|
|
$
|
14,625
|
|
$
|
2,130
|
|
$
|
1,958
|
|
$
|
2,122
|
|
$
|
2,009
|
|
$
|
19,233
|
|
$
|
18,592
|
|
Accumulated amortization
|
(13,714
|
)
|
(12,938
|
)
|
(2,130
|
)
|
(1,956
|
)
|
(1,595
|
)
|
(1,306
|
)
|
(17,439
|
)
|
(16,200
|
)
|
||||||||
Net Other Intangibles
|
$
|
1,267
|
|
$
|
1,687
|
|
$
|
—
|
|
$
|
2
|
|
$
|
527
|
|
$
|
703
|
|
$
|
1,794
|
|
$
|
2,392
|
|
Accrued Provision for Discontinued Operations
|
|
||
In thousands
|
Facility
Shutdown
Costs
|
|
|
Balance January 31, 2015
|
$
|
14,759
|
|
Additional provision Fiscal 2016
|
1,333
|
|
|
Charges and adjustments, net
|
(473
|
)
|
|
Balance January 30, 2016
|
15,619
|
|
|
Additional provision Fiscal 2017
|
701
|
|
|
Charges and adjustments, net
|
(11,277
|
)
|
|
Balance January 28, 2017
|
5,043
|
|
|
Additional provision Fiscal 2018
|
552
|
|
|
Charges and adjustments, net
|
(1,986
|
)
|
|
Balance February 3, 2018*
|
3,609
|
|
|
Current provision for discontinued operations
|
1,902
|
|
|
Total Noncurrent Provision for
Discontinued Operations
|
$
|
1,707
|
|
In thousands
|
February 3, 2018
|
|
|
January 28, 2017
|
|
||
Raw materials
|
$
|
—
|
|
|
$
|
389
|
|
Wholesale finished goods
|
52,924
|
|
|
61,575
|
|
||
Retail merchandise
|
489,701
|
|
|
501,713
|
|
||
Total Inventories
|
$
|
542,625
|
|
|
$
|
563,677
|
|
|
Long-Lived Assets
Held and Used
|
|
|
Level 1
|
|
|
Level 2
|
|
|
Level 3
|
|
|
Impairment Charges
|
|
|||||
Measured as of April 29, 2017
|
$
|
14
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
14
|
|
|
$
|
119
|
|
Measured as of July 29, 2017
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
58
|
|
|||||
Measured as of October 28, 2017
|
251
|
|
|
—
|
|
|
—
|
|
|
251
|
|
|
510
|
|
|||||
Measured as of February 3, 2018
|
494
|
|
|
—
|
|
|
—
|
|
|
494
|
|
|
1,983
|
|
|||||
Total Asset Impairment Fiscal 2018
|
|
|
|
|
|
|
|
|
$
|
2,670
|
|
In thousands
|
February 3, 2018
|
|
January 28, 2017
|
||||
U.S. Revolver borrowings
|
$
|
69,372
|
|
|
$
|
49,879
|
|
UK term loans
|
11,479
|
|
|
19,345
|
|
||
UK revolver borrowings
|
7,594
|
|
|
13,796
|
|
||
Deferred note expense on term loans
|
(60
|
)
|
|
(115
|
)
|
||
Total long-term debt
|
88,385
|
|
|
82,905
|
|
||
Current portion
|
1,766
|
|
|
9,175
|
|
||
Total Noncurrent Portion of Long-Term Debt
|
$
|
86,619
|
|
|
$
|
73,730
|
|
In thousands
|
2018
|
|
2017
|
|
2016
|
||||||
Minimum rentals
|
$
|
278,197
|
|
|
$
|
264,129
|
|
|
$
|
255,083
|
|
Contingent rentals
|
9,443
|
|
|
9,957
|
|
|
11,044
|
|
|||
Sublease rentals
|
(1,276
|
)
|
|
(1,863
|
)
|
|
(825
|
)
|
|||
Total Rental Expense
|
$
|
286,364
|
|
|
$
|
272,223
|
|
|
$
|
265,302
|
|
Fiscal Years
|
In thousands
|
||
2019
|
$
|
256,249
|
|
2020
|
229,434
|
|
|
2021
|
207,630
|
|
|
2022
|
185,644
|
|
|
2023
|
161,945
|
|
|
Later years
|
412,601
|
|
|
Total Minimum Rental Commitments
|
$
|
1,453,503
|
|
|
|
Shares
Authorized
|
|
Number of Shares
|
|
Amounts in Thousands
|
|
|||||||||||||||
Class
|
|
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
|
||||||||
Employees’ Subordinated Convertible Preferred
|
|
5,000,000
|
|
36,671
|
|
37,646
|
|
38,196
|
|
|
$
|
1,100
|
|
|
$
|
1,129
|
|
|
$
|
1,146
|
|
|
Stated Value of Issued Shares
|
|
|
|
|
|
|
|
|
|
1,100
|
|
|
1,129
|
|
|
1,146
|
|
|
||||
Employees’ Preferred Stock Purchase Accounts
|
|
|
|
|
|
|
|
|
|
(48
|
)
|
|
(69
|
)
|
|
(69
|
)
|
|
||||
Total Non-Redeemable Preferred Stock
|
|
|
|
|
|
|
|
|
|
$
|
1,052
|
|
|
$
|
1,060
|
|
|
$
|
1,077
|
|
|
In thousands
|
|
Non-Redeemable
Employees’
Preferred Stock
|
|
Employees’
Preferred
Stock
Purchase
Accounts
|
|
Total
Non-Redeemable
Preferred Stock
|
||||||
Balance January 31, 2015
|
|
$
|
1,345
|
|
|
$
|
(71
|
)
|
|
$
|
1,274
|
|
Other stock conversions
|
|
(199
|
)
|
|
2
|
|
|
(197
|
)
|
|||
Balance January 30, 2016
|
|
1,146
|
|
|
(69
|
)
|
|
1,077
|
|
|||
Other stock conversions
|
|
(17
|
)
|
|
—
|
|
|
(17
|
)
|
|||
Balance January 28, 2017
|
|
1,129
|
|
|
(69
|
)
|
|
1,060
|
|
|||
Other stock conversions
|
|
(29
|
)
|
|
21
|
|
|
(8
|
)
|
|||
Balance February 3, 2018
|
|
$
|
1,100
|
|
|
$
|
(48
|
)
|
|
$
|
1,052
|
|
|
Common
Stock
|
|
Employees’
Preferred
Stock
|
||
Issued at January 31, 2015
|
24,515,362
|
|
|
44,836
|
|
Exercise of options
|
35,542
|
|
|
—
|
|
Issue restricted stock
|
219,404
|
|
|
—
|
|
Issue shares—Employee Stock Purchase Plan
|
2,470
|
|
|
—
|
|
Shares repurchased
|
(2,383,384
|
)
|
|
—
|
|
Other
|
(66,595
|
)
|
|
(6,640
|
)
|
Issued at January 30, 2016
|
22,322,799
|
|
|
38,196
|
|
Exercise of options
|
26,696
|
|
|
—
|
|
Issue restricted stock
|
236,364
|
|
|
—
|
|
Shares repurchased
|
(2,155,869
|
)
|
|
—
|
|
Other
|
(75,718
|
)
|
|
(550
|
)
|
Issued at January 28, 2017
|
20,354,272
|
|
|
37,646
|
|
Issue restricted stock
|
356,224
|
|
|
—
|
|
Shares repurchased
|
(275,300
|
)
|
|
—
|
|
Other
|
(42,943
|
)
|
|
(975
|
)
|
Issued at February 3, 2018
|
20,392,253
|
|
|
36,671
|
|
Less shares repurchased and held in treasury
|
488,464
|
|
|
—
|
|
Outstanding at February 3, 2018
|
19,903,789
|
|
|
36,671
|
|
In thousands
|
2018
|
|
2017
|
|
2016
|
||||||
United States
|
$
|
(105,267
|
)
|
|
$
|
129,819
|
|
|
$
|
136,178
|
|
Foreign
|
3,606
|
|
|
21,595
|
|
|
15,355
|
|
|||
Total Earnings (Loss) from Continuing Operations before Income Taxes
|
$
|
(101,661
|
)
|
|
$
|
151,414
|
|
|
$
|
151,533
|
|
In thousands
|
2018
|
|
2017
|
|
2016
|
||||||
Current
|
|
|
|
|
|
||||||
U.S. federal
|
$
|
17,835
|
|
|
$
|
36,998
|
|
|
$
|
46,515
|
|
International
|
3,635
|
|
|
5,245
|
|
|
3,542
|
|
|||
State
|
3,883
|
|
|
5,918
|
|
|
8,220
|
|
|||
Total Current Income Tax Expense
|
25,353
|
|
|
48,161
|
|
|
58,277
|
|
|||
Deferred
|
|
|
|
|
|
||||||
U.S. federal
|
(8,721
|
)
|
|
2,980
|
|
|
(1,249
|
)
|
|||
International
|
(3,498
|
)
|
|
1,182
|
|
|
868
|
|
|||
State
|
(3,365
|
)
|
|
1,232
|
|
|
(1,744
|
)
|
|||
Total Deferred Income Tax Expense (Benefit)
|
(15,584
|
)
|
|
5,394
|
|
|
(2,125
|
)
|
|||
Total Income Tax Expense – Continuing Operations
|
$
|
9,769
|
|
|
$
|
53,555
|
|
|
$
|
56,152
|
|
|
February 3,
|
|
January 28,
|
||||
In thousands
|
2018
|
|
2017
|
||||
Identified intangibles
|
$
|
(4,821
|
)
|
|
$
|
(31,079
|
)
|
Prepaids
|
(2,226
|
)
|
|
(3,274
|
)
|
||
Convertible bonds
|
(372
|
)
|
|
(1,196
|
)
|
||
Tax over book depreciation
|
(6,167
|
)
|
|
(16,241
|
)
|
||
Gross deferred tax liabilities
|
(13,586
|
)
|
|
(51,790
|
)
|
||
Deferred rent
|
14,214
|
|
|
18,715
|
|
||
Pensions
|
562
|
|
|
3,396
|
|
||
Expense accruals
|
6,896
|
|
|
10,413
|
|
||
Uniform capitalization costs
|
9,549
|
|
|
16,361
|
|
||
Provisions for discontinued operations and restructurings
|
1,045
|
|
|
2,179
|
|
||
Inventory valuation
|
1,798
|
|
|
3,728
|
|
||
Tax net operating loss and credit carryforwards
|
3,682
|
|
|
2,450
|
|
||
Allowances for bad debts and notes
|
382
|
|
|
491
|
|
||
Deferred compensation and restricted stock
|
4,709
|
|
|
7,147
|
|
||
Other
|
2,177
|
|
|
4,458
|
|
||
Gross deferred tax assets
|
45,014
|
|
|
69,338
|
|
||
Deferred tax asset valuation allowance
|
(6,351
|
)
|
|
(4,305
|
)
|
||
Deferred tax asset net of valuation allowance
|
38,663
|
|
|
65,033
|
|
||
Net Deferred Tax Assets
|
$
|
25,077
|
|
|
$
|
13,243
|
|
|
2018
|
|
2017
|
||||
Net non-current asset
|
$
|
25,077
|
|
|
$
|
13,372
|
|
Net non-current liability
|
—
|
|
|
(129
|
)
|
||
Net Deferred Tax Assets
|
$
|
25,077
|
|
|
$
|
13,243
|
|
|
2018
|
|
2017
|
|
2016
|
|||
U. S. federal statutory rate of tax
|
33.72
|
%
|
|
35.00
|
%
|
|
35.00
|
%
|
State taxes (net of federal tax benefit)
|
(0.31
|
)
|
|
3.46
|
|
|
2.82
|
|
Foreign rate differential
|
3.37
|
|
|
(2.93
|
)
|
|
(2.60
|
)
|
Change in valuation allowance
|
(1.32
|
)
|
|
0.88
|
|
|
(0.58
|
)
|
Impact of statutory rate change
|
(5.25
|
)
|
|
—
|
|
|
—
|
|
Goodwill impairment
|
(35.69
|
)
|
|
—
|
|
|
—
|
|
Permanent items
|
(2.30
|
)
|
|
1.11
|
|
|
2.19
|
|
Uncertain federal, state and foreign tax positions
|
0.92
|
|
|
(0.90
|
)
|
|
1.23
|
|
Transition tax
|
(4.39
|
)
|
|
—
|
|
|
—
|
|
Other
|
1.64
|
|
|
(1.25
|
)
|
|
(1.00
|
)
|
Effective Tax Rate
|
(9.61
|
)%
|
|
35.37
|
%
|
|
37.06
|
%
|
In thousands
|
2018
|
|
2017
|
|
2016
|
||||||
Unrecognized Tax Benefit – Beginning of Period
|
$
|
5,622
|
|
|
$
|
14,639
|
|
|
$
|
3,997
|
|
Gross Increases (Decreases) – Tax Positions in a Prior Period
|
(15
|
)
|
|
(7,585
|
)
|
|
9,328
|
|
|||
Gross Increases (Decreases) – Tax Positions in a Current Period
|
(166
|
)
|
|
491
|
|
|
1,403
|
|
|||
Settlements
|
—
|
|
|
(742
|
)
|
|
—
|
|
|||
Lapse of Statutes of Limitations
|
(1,740
|
)
|
|
(1,181
|
)
|
|
(89
|
)
|
|||
Unrecognized Tax Benefit – End of Period
|
$
|
3,701
|
|
|
$
|
5,622
|
|
|
$
|
14,639
|
|
|
Pension Benefits
|
|
Other Benefits
|
||||||||||||
In thousands
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Benefit obligation at beginning of year
|
$
|
86,947
|
|
|
$
|
100,290
|
|
|
$
|
8,943
|
|
|
$
|
6,826
|
|
Service cost
|
550
|
|
|
550
|
|
|
903
|
|
|
704
|
|
||||
Interest cost
|
3,277
|
|
|
4,118
|
|
|
354
|
|
|
286
|
|
||||
Plan participants’ contributions
|
—
|
|
|
—
|
|
|
159
|
|
|
158
|
|
||||
Plan settlements
|
—
|
|
|
(13,862
|
)
|
|
—
|
|
|
—
|
|
||||
Benefits paid
|
(7,811
|
)
|
|
(8,308
|
)
|
|
(403
|
)
|
|
(257
|
)
|
||||
Actuarial loss
|
2,072
|
|
|
4,159
|
|
|
628
|
|
|
1,226
|
|
||||
Benefit Obligation at End of Year
|
$
|
85,035
|
|
|
$
|
86,947
|
|
|
$
|
10,584
|
|
|
$
|
8,943
|
|
|
Pension Benefits
|
|
Other Benefits
|
||||||||||||
In thousands
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Fair value of plan assets at beginning of year
|
$
|
80,682
|
|
|
$
|
90,333
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Actual gain on plan assets
|
12,859
|
|
|
12,531
|
|
|
—
|
|
|
—
|
|
||||
Plan settlements
|
—
|
|
|
(13,874
|
)
|
|
—
|
|
|
—
|
|
||||
Employer contributions
|
—
|
|
|
—
|
|
|
244
|
|
|
99
|
|
||||
Plan participants’ contributions
|
—
|
|
|
—
|
|
|
159
|
|
|
158
|
|
||||
Benefits paid
|
(7,811
|
)
|
|
(8,308
|
)
|
|
(403
|
)
|
|
(257
|
)
|
||||
Fair Value of Plan Assets at End of Year
|
$
|
85,730
|
|
|
$
|
80,682
|
|
|
—
|
|
|
—
|
|
||
Funded Status at End of Year
|
$
|
695
|
|
|
$
|
(6,265
|
)
|
|
$
|
(10,584
|
)
|
|
$
|
(8,943
|
)
|
|
Pension Benefits
|
|
Other Benefits
|
||||||||||||
In thousands
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Noncurrent assets
|
$
|
695
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Current liabilities
|
—
|
|
|
—
|
|
|
(393
|
)
|
|
(343
|
)
|
||||
Noncurrent liabilities
|
—
|
|
|
(6,265
|
)
|
|
(10,191
|
)
|
|
(8,600
|
)
|
||||
Net Amount Recognized
|
$
|
695
|
|
|
$
|
(6,265
|
)
|
|
$
|
(10,584
|
)
|
|
$
|
(8,943
|
)
|
|
Pension Benefits
|
|
Other Benefits
|
||||||||||||
In thousands
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||||||
Net loss
|
$
|
8,314
|
|
|
$
|
15,430
|
|
|
$
|
3,008
|
|
|
$
|
2,518
|
|
Total Recognized in Accumulated Other Comprehensive Loss
|
$
|
8,314
|
|
|
$
|
15,430
|
|
|
$
|
3,008
|
|
|
$
|
2,518
|
|
In thousands
|
February 3, 2018
|
|
January 28, 2017
|
||||
Projected benefit obligation
|
$
|
85,035
|
|
|
$
|
86,947
|
|
Accumulated benefit obligation
|
85,035
|
|
|
86,947
|
|
||
Fair value of plan assets
|
85,730
|
|
|
80,682
|
|
|
Pension Benefits
|
|
Other Benefits
|
||||||||||||||||||||
In thousands
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
||||||||||||
Service cost
|
$
|
550
|
|
|
$
|
550
|
|
|
$
|
450
|
|
|
$
|
903
|
|
|
$
|
704
|
|
|
$
|
821
|
|
Interest cost
|
3,277
|
|
|
4,118
|
|
|
4,263
|
|
|
354
|
|
|
286
|
|
|
245
|
|
||||||
Expected return on plan assets
|
(4,505
|
)
|
|
(5,641
|
)
|
|
(5,785
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Settlement loss recognized
|
—
|
|
|
2,456
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Amortization:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Losses
|
834
|
|
|
810
|
|
|
4,948
|
|
|
139
|
|
|
125
|
|
|
189
|
|
||||||
Net amortization
|
$
|
834
|
|
|
$
|
810
|
|
|
$
|
4,948
|
|
|
$
|
139
|
|
|
$
|
125
|
|
|
$
|
189
|
|
Net Periodic Benefit Cost
|
$
|
156
|
|
|
$
|
2,293
|
|
|
$
|
3,876
|
|
|
$
|
1,396
|
|
|
$
|
1,115
|
|
|
$
|
1,255
|
|
|
Pension Benefits
|
|
Other Benefits
|
||||
In thousands
|
2018
|
|
2018
|
||||
Net (gain) loss
|
$
|
(6,282
|
)
|
|
$
|
628
|
|
Amortization of net actuarial loss
|
(834
|
)
|
|
(139
|
)
|
||
Total Recognized in Other Comprehensive Income
|
$
|
(7,116
|
)
|
|
$
|
489
|
|
Total Recognized in Net Periodic Benefit Cost and Other Comprehensive Income
|
$
|
(6,960
|
)
|
|
$
|
1,885
|
|
|
Pension Benefits
|
|
Other Benefits
|
||||||||
|
2018
|
|
2017
|
|
2018
|
|
2017
|
||||
Discount rate
|
3.70
|
%
|
|
3.95
|
%
|
|
3.67
|
%
|
|
3.98
|
%
|
Rate of compensation increase
|
NA
|
|
|
NA
|
|
|
—
|
|
|
—
|
|
|
Pension Benefits
|
|
Other Benefits
|
||||||||||||||
|
2018
|
|
2017
|
|
2016
|
|
2018
|
|
2017
|
|
2016
|
||||||
Discount rate
|
3.95
|
%
|
|
4.30
|
%
|
|
3.55
|
%
|
|
3.98
|
%
|
|
4.04
|
%
|
|
3.31
|
%
|
Expected long-term rate of return on plan assets
|
6.05
|
%
|
|
6.35
|
%
|
|
6.35
|
%
|
|
—
|
|
|
—
|
|
|
—
|
|
Rate of compensation increase
|
NA
|
|
|
NA
|
|
|
NA
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2018
|
|
2017
|
||
Health care cost trend rate assumed for next year
|
8.0
|
%
|
|
8.0
|
%
|
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)
|
5
|
%
|
|
5
|
%
|
Year that the rate reaches the ultimate trend rate
|
2028
|
|
|
2027
|
|
In thousands
|
1% Increase
in Rates
|
|
1% Decrease
in Rates
|
||||
Aggregated service and interest cost
|
$
|
274
|
|
|
$
|
222
|
|
Accumulated postretirement benefit obligation
|
$
|
1,654
|
|
|
$
|
1,470
|
|
|
Plan Assets
|
||||
|
February 3, 2018
|
|
January 28, 2017
|
||
Asset Category
|
|
|
|
||
Cash
|
2
|
%
|
|
—
|
%
|
Equity securities
|
64
|
%
|
|
65
|
%
|
Debt securities
|
34
|
%
|
|
35
|
%
|
Total
|
100
|
%
|
|
100
|
%
|
February 3, 2018 (In thousands)
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||||||
Equity Securities:
|
|
|
|
|
|
|
|
||||||||
International Securities
|
$
|
—
|
|
|
$
|
11,076
|
|
|
$
|
—
|
|
|
$
|
11,076
|
|
U.S. Securities
|
—
|
|
|
44,013
|
|
|
—
|
|
|
44,013
|
|
||||
Fixed Income Securities
|
—
|
|
|
28,795
|
|
|
—
|
|
|
28,795
|
|
||||
Other:
|
|
|
|
|
|
|
|
||||||||
Cash Equivalents
|
1,893
|
|
|
—
|
|
|
—
|
|
|
1,893
|
|
||||
Other (includes receivables and payables)
|
(47
|
)
|
|
—
|
|
|
—
|
|
|
(47
|
)
|
||||
Total Pension Plan Assets
|
$
|
1,846
|
|
|
$
|
83,884
|
|
|
$
|
—
|
|
|
$
|
85,730
|
|
January 28, 2017 (In thousands)
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||||||
Equity Securities:
|
|
|
|
|
|
|
|
||||||||
International Securities
|
$
|
10,367
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
10,367
|
|
U.S. Securities
|
42,041
|
|
|
—
|
|
|
—
|
|
|
42,041
|
|
||||
Fixed Income Securities
|
27,987
|
|
|
—
|
|
|
—
|
|
|
27,987
|
|
||||
Other:
|
|
|
|
|
|
|
|
||||||||
Cash Equivalents
|
426
|
|
|
—
|
|
|
—
|
|
|
426
|
|
||||
Other (includes receivables and payables)
|
(139
|
)
|
|
—
|
|
|
—
|
|
|
(139
|
)
|
||||
Total Pension Plan Assets
|
$
|
80,682
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
80,682
|
|
Estimated future payments
|
Pension
Benefits
($ in millions)
|
|
Other
Benefits
($ in millions)
|
||||
2019
|
$
|
7.2
|
|
|
$
|
0.4
|
|
2020
|
6.9
|
|
|
0.4
|
|
||
2021
|
6.7
|
|
|
0.5
|
|
||
2022
|
6.4
|
|
|
0.5
|
|
||
2023
|
6.3
|
|
|
0.5
|
|
||
2024 – 2028
|
28.3
|
|
|
2.7
|
|
|
For the Year Ended
February 3, 2018
|
|
For the Year Ended
January 28, 2017
|
|
For the Year Ended
January 30, 2016
|
|||||||||||||||||||||||||||
(In thousands, except
per share amounts)
|
Income
(Numerator)
|
|
Shares
(Denominator)
|
|
Per-Share
Amount
|
|
Income
(Numerator)
|
|
Shares
(Denominator)
|
|
Per-Share
Amount
|
|
Income
(Numerator)
|
|
Shares
(Denominator)
|
|
Per-Share
Amount
|
|||||||||||||||
Earnings (loss) from continuing operations
|
$
|
(111,430
|
)
|
|
|
|
|
|
$
|
97,859
|
|
|
|
|
|
|
$
|
95,381
|
|
|
|
|
|
|||||||||
Basic EPS from continuing operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Income (loss) from continuing operations available to common shareholders
|
(111,430
|
)
|
|
19,218
|
|
|
$
|
(5.80
|
)
|
|
97,859
|
|
|
20,076
|
|
|
$
|
4.87
|
|
|
95,381
|
|
|
22,880
|
|
|
$
|
4.17
|
|
|||
Effect of Dilutive Securities from continuing operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Dilutive
share-based
awards
(1)
|
|
|
—
|
|
|
|
|
|
|
58
|
|
|
|
|
|
|
76
|
|
|
|
||||||||||||
Employees’
preferred
stock
(2)
|
|
|
—
|
|
|
|
|
|
|
38
|
|
|
|
|
|
|
44
|
|
|
|
||||||||||||
Diluted EPS from continuing operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Income (loss) from continuing operations available to common shareholders plus assumed conversions
|
$
|
(111,430
|
)
|
|
19,218
|
|
|
$
|
(5.80
|
)
|
|
$
|
97,859
|
|
|
20,172
|
|
|
$
|
4.85
|
|
|
$
|
95,381
|
|
|
23,000
|
|
|
$
|
4.15
|
|
(1)
|
Due to the loss from continuing operations in Fiscal 2018, restricted share-based awards are excluded from the diluted earnings per share calculation for Fiscal 2018.
|
(2)
|
The Company’s Employees’ Subordinated Convertible Preferred Stock is convertible
one
for one to the Company’s common stock. Due to the loss from continuing operations in Fiscal 2018, these shares are not assumed to be converted for Fiscal 2018. Because there are no dividends paid on this stock, these shares are assumed to be converted for Fiscal 2017 and 2016.
|
|
Options
|
|
Weighted-Average
Exercise Price
|
|
|||
Outstanding, January 31, 2015
|
62,238
|
|
|
$
|
37.38
|
|
|
Granted
|
—
|
|
|
—
|
|
|
|
Exercised
|
(35,542
|
)
|
|
36.81
|
|
|
|
Forfeited
|
—
|
|
|
—
|
|
|
|
Outstanding, January 30, 2016
|
26,696
|
|
|
$
|
38.13
|
|
|
Granted
|
—
|
|
|
—
|
|
|
|
Exercised
|
(26,696
|
)
|
|
38.13
|
|
|
|
Forfeited
|
—
|
|
|
—
|
|
|
|
Outstanding, January 28, 2017
|
—
|
|
|
$
|
—
|
|
|
Granted
|
—
|
|
|
—
|
|
|
|
Exercised
|
—
|
|
|
—
|
|
|
|
Forfeited
|
—
|
|
|
—
|
|
|
|
Outstanding, February 3, 2018
|
—
|
|
|
$
|
—
|
|
|
Exercisable, February 3, 2018
|
—
|
|
|
$
|
—
|
|
|
Nonvested Restricted Shares
|
Shares
|
|
Weighted-Average
Grant-Date
Fair Value
|
|||
Nonvested at January 31, 2015
|
486,994
|
|
|
$
|
66.70
|
|
Granted
|
219,404
|
|
|
66.43
|
|
|
Vested
|
(141,795
|
)
|
|
60.08
|
|
|
Withheld for federal taxes
|
(65,783
|
)
|
|
60.62
|
|
|
Forfeited
|
(27,221
|
)
|
|
69.31
|
|
|
Nonvested at January 30, 2016
|
471,599
|
|
|
69.26
|
|
|
Granted
|
236,364
|
|
|
65.99
|
|
|
Vested
|
(125,347
|
)
|
|
67.23
|
|
|
Withheld for federal taxes
|
(55,563
|
)
|
|
67.52
|
|
|
Forfeited
|
(43,051
|
)
|
|
70.60
|
|
|
Nonvested at January 28, 2017
|
484,002
|
|
|
68.27
|
|
|
Granted
|
356,224
|
|
|
32.00
|
|
|
Vested
|
(125,190
|
)
|
|
68.94
|
|
|
Withheld for federal taxes
|
(50,957
|
)
|
|
68.87
|
|
|
Forfeited
|
(23,999
|
)
|
|
55.90
|
|
|
Nonvested at February 3, 2018
|
640,080
|
|
|
$
|
48.37
|
|
Fiscal 2018
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
Journeys
Group
|
|
Schuh Group
|
|
Lids Sports
Group
|
|
Johnston
& Murphy
Group
|
|
Licensed
Brands
|
|
Corporate
& Other
|
|
Consolidated
|
|
|||||||||||||
In thousands
|
|
|
|
|
|
|
|||||||||||||||||||||
Sales
|
$
|
1,329,460
|
|
|
$
|
403,698
|
|
|
$
|
779,469
|
|
|
$
|
304,160
|
|
|
$
|
89,812
|
|
|
$
|
420
|
|
|
$
|
2,907,019
|
|
Intercompany sales
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(3
|
)
|
|
—
|
|
|
(3
|
)
|
|||||||
Net sales to external customers
|
$
|
1,329,460
|
|
|
$
|
403,698
|
|
|
$
|
779,469
|
|
|
$
|
304,160
|
|
|
$
|
89,809
|
|
|
$
|
420
|
|
|
$
|
2,907,016
|
|
Segment operating income (loss)
|
$
|
76,094
|
|
|
$
|
20,104
|
|
|
$
|
11,684
|
|
|
$
|
20,047
|
|
|
$
|
(163
|
)
|
|
$
|
(32,963
|
)
|
|
$
|
94,803
|
|
Goodwill impairment*
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(182,211
|
)
|
|
(182,211
|
)
|
|||||||
Asset impairments and other**
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(8,841
|
)
|
|
(8,841
|
)
|
|||||||
Earnings (loss) from operations
|
76,094
|
|
|
20,104
|
|
|
11,684
|
|
|
20,047
|
|
|
(163
|
)
|
|
(224,015
|
)
|
|
(96,249
|
)
|
|||||||
Interest expense
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(5,420
|
)
|
|
(5,420
|
)
|
|||||||
Interest income
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
8
|
|
|
8
|
|
|||||||
Earnings (loss) from continuing
operations before income taxes
|
$
|
76,094
|
|
|
$
|
20,104
|
|
|
$
|
11,684
|
|
|
$
|
20,047
|
|
|
$
|
(163
|
)
|
|
$
|
(229,427
|
)
|
|
$
|
(101,661
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Total assets***
|
$
|
443,066
|
|
|
$
|
239,479
|
|
|
$
|
324,186
|
|
|
$
|
127,178
|
|
|
$
|
32,331
|
|
|
$
|
149,113
|
|
|
$
|
1,315,353
|
|
Depreciation and amortization
|
26,490
|
|
|
13,769
|
|
|
27,576
|
|
|
6,418
|
|
|
688
|
|
|
3,385
|
|
|
78,326
|
|
|||||||
Capital expenditures
|
79,532
|
|
|
10,968
|
|
|
29,319
|
|
|
6,163
|
|
|
421
|
|
|
1,450
|
|
|
127,853
|
|
Fiscal 2017
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
Journeys
Group
|
|
Schuh Group
|
|
Lids Sports
Group
|
|
Johnston
& Murphy
Group
|
|
Licensed
Brands
|
|
Corporate
& Other
|
|
Consolidated
|
||||||||||||||
In thousands
|
|
|
|
|
|
|
|||||||||||||||||||||
Sales
|
$
|
1,251,646
|
|
|
$
|
372,872
|
|
|
$
|
847,510
|
|
|
$
|
289,324
|
|
|
$
|
107,210
|
|
|
$
|
617
|
|
|
$
|
2,869,179
|
|
Intercompany sales
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(838
|
)
|
|
—
|
|
|
(838
|
)
|
|||||||
Net sales to external customers
|
$
|
1,251,646
|
|
|
$
|
372,872
|
|
|
$
|
847,510
|
|
|
$
|
289,324
|
|
|
$
|
106,372
|
|
|
$
|
617
|
|
|
$
|
2,868,341
|
|
Segment operating income (loss)
|
$
|
85,875
|
|
|
$
|
20,530
|
|
|
$
|
41,563
|
|
|
$
|
19,682
|
|
|
$
|
4,566
|
|
|
$
|
(31,058
|
)
|
|
$
|
141,158
|
|
Asset impairments and other*
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
802
|
|
|
802
|
|
|||||||
Earnings (loss) from operations
|
85,875
|
|
|
20,530
|
|
|
41,563
|
|
|
19,682
|
|
|
4,566
|
|
|
(30,256
|
)
|
|
141,960
|
|
|||||||
Gain on sale of SureGrip Footwear
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
12,297
|
|
|
12,297
|
|
|||||||
Gain on sale of Lids Team Sports
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,404
|
|
|
2,404
|
|
|||||||
Interest expense
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(5,294
|
)
|
|
(5,294
|
)
|
|||||||
Interest income
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
47
|
|
|
47
|
|
|||||||
Earnings (loss) from continuing
operations before income taxes
|
$
|
85,875
|
|
|
$
|
20,530
|
|
|
$
|
41,563
|
|
|
$
|
19,682
|
|
|
$
|
4,566
|
|
|
$
|
(20,802
|
)
|
|
$
|
151,414
|
|
Total assets**
|
$
|
404,773
|
|
|
$
|
214,886
|
|
|
$
|
519,912
|
|
|
$
|
126,559
|
|
|
$
|
40,357
|
|
|
$
|
134,512
|
|
|
$
|
1,440,999
|
|
Depreciation and amortization
|
24,235
|
|
|
14,003
|
|
|
26,533
|
|
|
5,987
|
|
|
995
|
|
|
4,015
|
|
|
75,768
|
|
|||||||
Capital expenditures
|
50,259
|
|
|
11,236
|
|
|
21,123
|
|
|
9,221
|
|
|
760
|
|
|
1,371
|
|
|
93,970
|
|
Fiscal 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
Journeys
Group
|
|
Schuh Group
|
|
Lids Sports
Group
|
|
Johnston
& Murphy
Group
|
|
Licensed
Brands
|
|
Corporate
& Other
|
|
Consolidated
|
||||||||||||||
In thousands
|
|
|
|
|
|
|
|||||||||||||||||||||
Sales
|
$
|
1,251,637
|
|
|
$
|
405,674
|
|
|
$
|
976,372
|
|
|
$
|
278,681
|
|
|
$
|
110,655
|
|
|
$
|
912
|
|
|
$
|
3,023,931
|
|
Intercompany sales
|
—
|
|
|
—
|
|
|
(868
|
)
|
|
—
|
|
|
(829
|
)
|
|
—
|
|
|
(1,697
|
)
|
|||||||
Net sales to external customers
|
$
|
1,251,637
|
|
|
$
|
405,674
|
|
|
$
|
975,504
|
|
|
$
|
278,681
|
|
|
$
|
109,826
|
|
|
$
|
912
|
|
|
$
|
3,022,234
|
|
Segment operating income (loss)
|
$
|
126,248
|
|
|
$
|
19,124
|
|
|
$
|
17,040
|
|
|
$
|
17,761
|
|
|
$
|
9,236
|
|
|
$
|
(30,265
|
)
|
|
$
|
159,144
|
|
Asset impairments and other*
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(7,893
|
)
|
|
(7,893
|
)
|
|||||||
Earnings (loss) from operations
|
126,248
|
|
|
19,124
|
|
|
17,040
|
|
|
17,761
|
|
|
9,236
|
|
|
(38,158
|
)
|
|
151,251
|
|
|||||||
Gain on sale of Lids Team Sports
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
4,685
|
|
|
4,685
|
|
|||||||
Interest expense
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(4,414
|
)
|
|
(4,414
|
)
|
|||||||
Interest income
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
11
|
|
|
11
|
|
|||||||
Earnings (loss) from continuing
operations before income taxes
|
$
|
126,248
|
|
|
$
|
19,124
|
|
|
$
|
17,040
|
|
|
$
|
17,761
|
|
|
$
|
9,236
|
|
|
$
|
(37,876
|
)
|
|
$
|
151,533
|
|
Total assets**
|
$
|
349,021
|
|
|
$
|
241,924
|
|
|
$
|
517,284
|
|
|
$
|
118,913
|
|
|
$
|
50,718
|
|
|
$
|
262,197
|
|
|
$
|
1,540,057
|
|
Depreciation and amortization
|
22,504
|
|
|
14,814
|
|
|
30,196
|
|
|
5,677
|
|
|
911
|
|
|
4,909
|
|
|
79,011
|
|
|||||||
Capital expenditures
|
33,251
|
|
|
19,065
|
|
|
37,396
|
|
|
7,796
|
|
|
774
|
|
|
2,370
|
|
|
100,652
|
|
(In thousands,
|
|
1st Quarter
|
|
2nd Quarter
|
|
3rd Quarter
|
|
4th Quarter
|
|
Fiscal Year
|
||||||||||||||||||||||||||||||
except per share amounts)
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
2018
(a)
|
|
2017
|
|
2018
(b)
|
|
2017
|
||||||||||||||||||||
Net sales
|
|
$
|
643,368
|
|
|
$
|
648,793
|
|
|
$
|
616,506
|
|
|
$
|
625,557
|
|
|
$
|
716,759
|
|
|
$
|
710,822
|
|
|
$
|
930,383
|
|
|
$
|
883,169
|
|
|
$
|
2,907,016
|
|
|
$
|
2,868,341
|
|
Gross margin
|
|
318,913
|
|
|
329,697
|
|
|
306,507
|
|
|
314,737
|
|
|
353,998
|
|
|
355,635
|
|
|
436,704
|
|
|
417,457
|
|
|
1,416,122
|
|
|
1,417,526
|
|
||||||||||
Earnings (loss) from continuing operations before income taxes
|
|
1,617
|
|
(1)
|
16,760
|
|
(3)
|
(3,259
|
)
|
(5)
|
21,199
|
|
(7)
|
(153,856
|
)
|
(9)
|
38,860
|
|
(10)
|
53,837
|
|
(11)
|
74,595
|
|
(13)
|
(101,661
|
)
|
|
151,414
|
|
||||||||||
Earnings (loss) from continuing operations
|
|
997
|
|
|
10,564
|
|
|
(3,875
|
)
|
|
14,504
|
|
|
(164,806
|
)
|
|
25,948
|
|
|
56,254
|
|
|
46,843
|
|
|
(111,430
|
)
|
|
97,859
|
|
||||||||||
Net earnings (loss)
|
|
885
|
|
(2)
|
10,410
|
|
(4)
|
(3,948
|
)
|
(6)
|
14,578
|
|
(8)
|
(164,821
|
)
|
|
25,895
|
|
|
56,045
|
|
(12)
|
46,548
|
|
(14)
|
(111,839
|
)
|
|
97,431
|
|
||||||||||
Diluted earnings (loss) per common share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Continuing operations
|
|
0.05
|
|
|
0.50
|
|
|
(0.20
|
)
|
|
0.72
|
|
|
(8.55
|
)
|
|
1.30
|
|
|
2.91
|
|
|
2.40
|
|
|
(5.80
|
)
|
|
4.85
|
|
||||||||||
Net earnings (loss)
|
|
0.05
|
|
|
0.50
|
|
|
(0.21
|
)
|
|
0.72
|
|
|
(8.56
|
)
|
|
1.30
|
|
|
2.90
|
|
|
2.39
|
|
|
(5.82
|
)
|
|
4.83
|
|
(1)
|
Includes a net asset impairment and other charge of
$0.1 million
(see Note 3). (a) 14 week period vs. 13
|
(2)
|
Includes a loss of
$0.1 million
, net of tax, from discontinued operations (see Note 3). weeks in prior period
|
(3)
|
Includes a net asset impairment and other charge of
$3.5 million
(see Note 3). (b) 53 week period vs. 52
|
(4)
|
Includes a loss of
$0.2 million
, net of tax, from discontinued operations (see Note 3). weeks in prior period
|
(5)
|
Includes a net asset impairment and other charge of
$0.1 million
(see Note 3).
|
(6)
|
Includes a loss of
$0.1 million
, net of tax, from discontinued operations (see Note 3).
|
(7)
|
Includes a net asset impairment and other credit of
$(7.9) million
(see Note 3) and a gain of
(2.5) million
on the sale of Lids Team Sports (see Note 2).
|
(8)
|
Includes a gain of
$(0.1) million
, net of tax, from discontinued operations (see Note 3).
|
(9)
|
Includes a net asset impairment and other charge of
$1.4 million
(see Note 3) and a goodwill impairment charge of
$182.2 million
(see Note 2).
|
(10)
|
Includes a net asset impairment and other charge of
$0.6 million
(see Note 3).
|
(11)
|
Includes a net asset impairment and other charge of
$7.2 million
(see Note 3).
|
(12)
|
Includes a loss of
$0.2 million
, net of tax, from discontinued operations (see Note 3).
|
(13)
|
Includes a net asset impairment and other charge of
$3.0 million
(see Note 3) and a loss of
$0.1 million
on the sale of Lids Team Sports and a gain of
$(12.3) million
on the sale of SureGrip Footwear (see Note 2).
|
(14)
|
Includes a loss of
$0.3 million
, net of tax, from discontinued operations (see Note 3).
|
Plan Category
|
(a)
Number of
securities
to be issued
upon exercise of
outstanding options,
warrants and rights
(1)
|
|
(b)
Weighted-average
exercise price of
outstanding
options, warrants
and rights
|
|
(c)
Number of securities
remaining available for
future issuance under equity
compensation plans
(excluding securities
reflected in column (a))
(2)
|
||||
Equity compensation plans approved by security holders
|
4,907
|
|
|
$
|
—
|
|
|
1,831,017
|
|
Equity compensation plans not approved by security holders
|
—
|
|
|
—
|
|
|
—
|
|
|
Total
|
4,907
|
|
|
$
|
—
|
|
|
1,831,017
|
|
(1)
|
Restricted stock units issued to certain employees at no cost.
|
(2)
|
Such shares may be issued as restricted shares or other forms of stock-based compensation pursuant to our stock incentive plans.
|
*
|
For additional information concerning our equity compensation plans, see the discussion in Note 1 in the Notes to Consolidated Financial Statements—Summary of Significant Accounting Policies–Share-Based Compensation and Note 12 Share-Based Compensation Plans.
|
|
(3)
|
a.
|
|
|
|
b.
|
|
|
(4)
|
a.
|
|
|
(10)
|
a.
|
|
|
|
b.
|
|
|
|
c.
|
|
|
|
d.
|
|
|
|
e.
|
|
|
|
f.
|
|
|
g.
|
|
|
|
h.
|
|
|
|
i.
|
|
|
|
j.
|
|
|
|
k.
|
|
|
|
l.
|
Form of Indemnification Agreement For Directors. Incorporated by reference to Exhibit (10)m to the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 1993 (File No.1-3083).
|
|
|
m.
|
|
|
|
n.
|
|
|
|
o.
|
|
|
|
p.
|
|
|
|
q.
|
|
|
|
r.
|
|
|
|
s.
|
|
|
|
t.
|
|
|
|
u.
|
|
|
|
v.
|
|
|
|
w.
|
|
|
|
x.
|
|
|
|
y.
|
|
|
|
z.
|
|
|
aa.
|
|
|
(21)
|
|
|
|
(23)
|
|
|
|
(24)
|
|
|
|
(31.1)
|
|
|
|
(31.2)
|
|
|
|
(32.1)
|
|
|
|
(32.2)
|
|
|
|
101.INS
|
|
XBRL Instance Document
|
|
101.SCH
|
|
XBRL Schema Document
|
|
101.CAL
|
|
XBRL Calculation Linkbase Document
|
|
101.DEF
|
|
XBRL Definition Linkbase Document
|
|
101.LAB
|
|
XBRL Label Linkbase Document
|
|
101.PRE
|
|
XBRL Presentation Linkbase Document
|
*
|
Certain information has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been granted with respect to the omitted portion.
|
/s/ Ernst & Young LLP
|
|
Nashville, Tennessee
|
|
April 4, 2018
|
|
GENESCO INC.
|
||
|
|
|
By:
|
|
/s/Mimi Eckel Vaughn
|
|
|
|
|
|
Mimi Eckel Vaughn
|
|
|
Senior Vice President – Finance and
|
|
|
Chief Financial Officer
|
*By
|
/s/Roger G. Sisson
|
|
Roger G. Sisson
|
|
Attorney-In-Fact
|
In Thousands
|
Beginning
Balance
|
|
Charged
to Profit
and Loss
|
|
Additions (Reductions)
|
|
Ending
Balance
|
||||||||
Allowances deducted from assets in the balance sheet:
|
|
|
|
|
|
|
|
||||||||
Accounts Receivable Allowances
|
$
|
3,073
|
|
|
$
|
853
|
|
|
$
|
667
|
|
|
$
|
4,593
|
|
Markdown Allowance (1)
|
$
|
12,866
|
|
|
$
|
3,058
|
|
|
$
|
(2,660
|
)
|
|
$
|
13,264
|
|
In Thousands
|
Beginning
Balance
|
|
Charged
to Profit
and Loss
|
|
Reductions
|
|
Ending
Balance
|
||||||||
Allowances deducted from assets in the balance sheet:
|
|
|
|
|
|
|
|
||||||||
Accounts Receivable Allowances
|
$
|
2,960
|
|
|
$
|
442
|
|
|
$
|
(329
|
)
|
|
$
|
3,073
|
|
Markdown Allowance (1)
|
$
|
11,632
|
|
|
$
|
3,322
|
|
|
$
|
(2,088
|
)
|
|
$
|
12,866
|
|
In Thousands
|
Beginning
Balance
|
|
Charged
to Profit
and Loss
|
|
Reductions
|
|
Ending
Balance
|
||||||||
Allowances deducted from assets in the balance sheet:
|
|
|
|
|
|
|
|
||||||||
Accounts Receivable Allowances
|
$
|
4,191
|
|
|
$
|
637
|
|
|
$
|
(1,868
|
)
|
|
$
|
2,960
|
|
Markdown Allowance (1)
|
$
|
10,246
|
|
|
$
|
6,560
|
|
|
$
|
(5,174
|
)
|
|
$
|
11,632
|
|
1 Year Genesco Chart |
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