Oxford Industries (OXM) 10-Q7 Dec 232023 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Oct. 28, 2023	Dec. 01, 2023
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 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
Trading Symbol	OXM
Security Exchange Name	NYSE
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
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		15,625,096
Entity Central Index Key	0000075288
Current Fiscal Year End Date	--02-03
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 28, 2023	Jan. 28, 2023	Oct. 29, 2022
Current Assets
Cash and cash equivalents	$ 7,879	$ 8,826	$ 14,976
Receivables, net	60,101	43,986	62,230
Inventories, net	157,524	220,138	171,639
Income tax receivable	19,454	19,440	19,740
Prepaid expenses and other current assets	46,421	38,073	30,910
Total Current Assets	291,379	330,463	299,495
Property and equipment, net	188,686	177,584	173,391
Intangible assets, net	273,444	283,845	287,626
Goodwill	124,230	120,498	116,268
Operating lease assets	246,399	240,690	237,078
Other assets, net	38,018	35,585	26,459
Total Assets	1,162,156	1,188,665	1,140,317
Current Liabilities
Accounts payable	68,565	94,611	72,932
Accrued compensation	20,219	35,022	36,150
Current portion of operating lease liabilities	65,224	73,865	62,349
Accrued expenses and other liabilities	58,504	66,141	58,964
Total Current Liabilities	212,512	269,639	230,395
Long-term debt	66,219	119,011	130,449
Non-current portion of operating lease liabilities	226,238	220,709	225,921
Other non-current liabilities	20,675	20,055	18,058
Deferred income taxes	9,399	2,981	2,455
Shareholders' Equity
Common stock, $1.00 par value per share	15,625	15,774	15,815
Additional paid-in capital	174,730	172,175	169,063
Retained earnings	439,755	370,145	351,731
Accumulated other comprehensive loss	(2,997)	(1,824)	(3,570)
Total Shareholders' Equity	627,113	556,270	533,039
Total Liabilities and Shareholders' Equity	$ 1,162,156	$ 1,188,665	$ 1,140,317

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Oct. 28, 2023	Jan. 28, 2023	Oct. 29, 2022
CONDENSED CONSOLIDATED BALANCE SHEETS
Common stock, par value (in dollars per share)	$ 1	$ 1	$ 1

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Net sales	$ 326,630	$ 313,033	$ 1,167,046	$ 1,029,044
Cost of goods sold	121,211	115,339	417,769	372,824
Gross profit	205,419	197,694	749,277	656,220
SG&A	194,822	175,027	603,202	495,574
Royalties and other operating income	3,863	4,648	16,360	18,018
Operating income	14,460	27,315	162,435	178,664
Interest expense, net	1,217	698	4,856	1,214
Earnings before income taxes	13,243	26,617	157,579	177,450
Income tax expense	2,461	6,951	36,806	43,764
Net earnings	$ 10,782	$ 19,666	$ 120,773	$ 133,686
Net earnings per share:
Basic (in dollars per share)	$ 0.69	$ 1.25	$ 7.75	$ 8.36
Diluted (in dollars per share)	$ 0.68	$ 1.22	$ 7.57	$ 8.19
Weighted average shares outstanding:
Basic (in shares)	15,587	15,740	15,589	15,992
Diluted (in shares)	15,787	16,139	15,947	16,333
Dividends declared per share (in dollars per share)	$ 0.65	$ 0.55	$ 1.95	$ 1.65

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net earnings	$ 10,782	$ 19,666	$ 120,773	$ 133,686
Other comprehensive income (loss), net of taxes:
Net foreign currency translation adjustment	(888)	(450)	(1,173)	(98)
Comprehensive income	$ 9,894	$ 19,216	$ 119,600	$ 133,588

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022
Cash Flows From Operating Activities:
Net earnings	$ 120,773	$ 133,686
Adjustments to reconcile net earnings to cash flows from operating activities:
Depreciation	35,476	31,126
Amortization of intangible assets	11,003	2,322
Equity compensation expense	11,034	7,796
Gain on sale of assets	(1,756)
Amortization and write-off of deferred financing costs	465	258
Deferred income taxes	6,448	(456)
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Receivables, net	(11,651)	(21,230)
Inventories, net	61,598	(31,332)
Income tax receivable	(14)	(12)
Prepaid expenses and other current assets	(8,337)	(5,644)
Current liabilities	(54,468)	(23,271)
Other balance sheet changes	(1,173)	(6,988)
Cash provided by operating activities	169,398	86,255
Cash Flows From Investing Activities:
Acquisitions, net of cash acquired	(3,320)	(263,656)
Purchases of property and equipment	(54,496)	(32,331)
Purchases of short-term investments		(70,000)
Proceeds from short-term investments		234,837
Proceeds from the sale of property, plant and equipment	2,125
Other investing activities	(33)	1,450
Cash used in investing activities	(55,724)	(129,700)
Cash Flows From Financing Activities:
Repayment of revolving credit arrangements	(369,159)	(45,262)
Proceeds from revolving credit arrangements	316,368	175,711
Deferred financing costs paid	(1,661)
Repurchase of common stock	(20,045)	(86,804)
Proceeds from issuance of common stock	1,509	1,263
Repurchase of equity awards for employee tax withholding liabilities	(9,941)	(3,166)
Cash dividends paid	(31,487)	(26,572)
Other financing activities		(2,010)
Cash used in (provided by) financing activities	(114,416)	13,160
Net change in cash and cash equivalents	(742)	(30,285)
Effect of foreign currency translation on cash and cash equivalents	(205)	402
Cash and cash equivalents at the beginning of year	8,826	44,859
Cash and cash equivalents at the end of period	$ 7,879	$ 14,976

Basis of Presentation

Basis of Presentation	9 Months Ended
Basis of Presentation	Oct. 28, 2023
Basis of Presentation
Basis of Presentation	1. Basis of Presentation: The preparation of our unaudited condensed 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. The significant accounting policies applied during the interim periods presented are consistent with the significant accounting policies described in our Fiscal 2022 Form 10-K. No recently issued guidance adopted in Fiscal 2023 had a material impact on our consolidated financial statements upon adoption or is expected to have a material impact in future periods. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Fiscal 2022 Form 10-K. Recent accounting pronouncements pending adoption are either not applicable or not expected to have a material impact on our consolidated financial statements.

Operating Groups

Operating Groups	9 Months Ended
Operating Groups	Oct. 28, 2023
Operating Groups
Operating Groups	2. Operating Group Information: Corporate and Other is a reconciling category for reporting purposes and includes our corporate offices, substantially all financing activities, the elimination of any sales between operating groups, any other items that are not allocated to the operating groups, including LIFO inventory accounting adjustments, and the operations of our Lyons, Georgia distribution center and our Oxford America business, which we exited in Fiscal 2022. The table below presents certain financial information (in thousands) about our operating groups, as well as Corporate and Other. Third Quarter First Nine Months Fiscal 2023 Fiscal 2022 Fiscal 2023 Fiscal 2022 Net sales Tommy Bahama $ 170,144 $ 178,645 $ 655,022 $ 650,677 Lilly Pulitzer 76,290 84,053 265,089 264,763 Johnny Was (1) 49,105 22,661 150,619 22,661 Emerging Brands 31,155 26,912 96,726 88,588 Corporate and Other (64) 762 (410) 2,355 Consolidated net sales $ 326,630 $ 313,033 $ 1,167,046 $ 1,029,044 Depreciation and amortization Tommy Bahama $ 6,299 $ 6,576 $ 18,356 $ 20,110 Lilly Pulitzer 4,372 3,288 11,743 9,384 Johnny Was (1) 4,684 2,184 14,593 2,184 Emerging Brands 504 391 1,389 1,143 Corporate and Other 161 197 398 627 Consolidated depreciation and amortization $ 16,020 $ 12,636 $ 46,479 $ 33,448 Operating income (loss) Tommy Bahama $ 12,097 $ 18,984 $ 118,655 $ 130,508 Lilly Pulitzer 6,769 12,688 49,851 60,358 Johnny Was (1) 935 117 7,266 117 Emerging Brands 3,709 3,729 10,650 15,456 Corporate and Other (9,050) (8,203) (23,987) (27,775) Consolidated operating income 14,460 27,315 $ 162,435 $ 178,664 Interest expense, net 1,217 698 4,856 1,214 Earnings before income taxes $ 13,243 $ 26,617 $ 157,579 $ 177,450 October 28, 2023 January 28, 2023 October 29, 2022 Assets Tommy Bahama (2) $ 563,564 $ 569,833 $ 544,947 Lilly Pulitzer (3) 192,566 211,119 192,609 Johnny Was (4) 331,131 334,603 350,212 Emerging Brands (5) 86,790 91,306 83,280 Corporate and Other (6) (11,895) (18,196) (30,731) Consolidated Total Assets $ 1,162,156 $ 1,188,665 $ 1,140,317 (1) The Johnny Was business was acquired on September 19, 2022. Activities for the Third Quarter of Fiscal 2022 and First Nine Months of Fiscal 2022 for Johnny Was consist of six weeks of activity from the acquisition date through October 29, 2022. (2) Increase in Tommy Bahama total assets from October 29, 2022, includes increases in operating lease assets and property and equipment. (3) Change in Lilly Pulitzer total assets from October 29, 2022, includes decreases in operating lease assets and receivables partially offset by an increase in property and equipment. (4) Decrease in Johnny Was total assets from October 29, 2022, includes decreases in intangible assets and cash and cash equivalents. (5) Increase in Emerging Brands total assets from October 29, 2022, includes increases in operating lease assets. (6) Increase in Corporate and Other total assets from October 29, 2022, includes increases in prepaid taxes. 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. We have calculated all percentages below based on actual data, and percentages may not add to 100 due to rounding. Third Quarter Fiscal 2023 Net Sales Retail E-commerce Food & Beverage Wholesale Other Tommy Bahama $ 170,144 45 % 21 % 13 % 21 % — % Lilly Pulitzer 76,290 31 % 58 % — % 11 % — % Johnny Was 49,105 39 % 41 % — % 20 % — % Emerging Brands 31,155 12 % 41 % — % 47 % — % Corporate and Other (64) — % — % — % — % NM % Total $ 326,630 37 % 35 % 7 % 21 % — % Third Quarter Fiscal 2022 Net Sales Retail E-commerce Food & Beverage Wholesale Other Tommy Bahama $ 178,645 44 % 20 % 13 % 23 % — % Lilly Pulitzer 84,053 27 % 62 % — % 11 % — % Johnny Was (1) 22,661 38 % 41 % — 21 % — % Emerging Brands 26,912 5 % 40 % — % 55 % — % Corporate and Other 762 — % — % — % — % NM % Total $ 313,033 36 % 34 % 7 % 22 % — % First Nine Months 2023 Net Sales Retail E ‑ commerce Food & Beverage Wholesale Other Tommy Bahama $ 655,022 45 % 23 % 13 % 19 % — % Lilly Pulitzer 265,089 34 % 51 % — % 15 % — % Johnny Was 150,619 38 % 40 % — % 22 % — % Emerging Brands 96,726 10 % 42 % — % 48 % — % Corporate and Other (410) — % — % — % — % NM % Consolidated net sales $ 1,167,046 38 % 34 % 7 % 21 % — % First Nine Months 2022 Net Sales Retail E ‑ commerce Food & Beverage Wholesale Other Tommy Bahama $ 650,677 46 % 23 % 12 % 19 % — % Lilly Pulitzer 264,763 34 % 49 % — % 17 % — % Johnny Was (1) 22,661 38 % 41 % — % 21 % — % Emerging Brands 88,588 5 % 39 % — % 56 % — % Corporate and Other 2,355 — % — % — % — % NM % Consolidated net sales $ 1,029,044 39 % 31 % 8 % 21 % — % (1) The Johnny Was business was acquired on September 19, 2022. Activities for the Third Quarter of Fiscal 2022 and First Nine Months of Fiscal 2022 for Johnny Was consist of six weeks of activity from the acquisition date through October 29, 2022.

Revenue Recognition and Receiva

Revenue Recognition and Receivables	9 Months Ended
Revenue Recognition and Receivables	Oct. 28, 2023
Revenue Recognition and Receivables
Revenue Recognition and Receivables	3. Revenue Recognition and Receivables: The table below quantifies net sales by distribution channel (in thousands) for each period presented. Third Quarter First Nine Months Fiscal 2023 Fiscal 2022 Fiscal 2023 Fiscal 2022 Retail $ 121,804 $ 112,344 $ 449,546 $ 402,400 E-commerce 113,531 107,756 391,559 323,045 Food & Beverage 22,562 23,157 84,097 81,333 Wholesale 68,716 69,292 241,857 220,707 Other 17 484 (13) 1,559 Net sales $ 326,630 $ 313,033 $ 1,167,046 $ 1,029,044 An estimated sales return liability of $8 million, $12 million and $9 million for expected direct to consumer returns is classified in accrued expenses and other liabilities in our consolidated balance sheet as of October 28, 2023, January 28, 2023, and October 29, 2022, respectively. As of October 28, 2023, January 28, 2023, and October 29, 2022, prepaid expenses and other current assets included $3 million, $4 million and $4 million, respectively, relating to the estimated value of inventory for expected direct to consumer and wholesale sales returns. Substantially all amounts recognized in receivables, net represent trade receivables related to contracts with customers. In the ordinary course of our wholesale operations, we offer discounts, allowances and cooperative advertising support to and accept returns from certain of our wholesale customers for certain products. As of October 28, 2023, January 28, 2023, and October 29, 2022, reserve balances recorded as a reduction to receivables related to these items were $3 million, $4 million and $5 million, respectively. As of October 28, 2023, January 28, 2023, and October 29, 2022, our provision for credit losses related to receivables included in our consolidated balance sheets was $1 million, $1 million and $1 million, respectively. 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 sheet and totaled $18 million, $19 million and $17 million as of October 28, 2023, January 28, 2023, and October 29, 2022, respectively.

Leases and Other Commitments

Leases and Other Commitments	9 Months Ended
Leases and Other Commitments	Oct. 28, 2023
Leases and Other Commitments
Leases and Other Commitments	4. Leases: As of October 28, 2023, the stated lease liability payments for the fiscal years specified below were as follows (in thousands): Operating lease Remainder of 2023 $ 19,761 2024 73,791 2025 58,704 2026 52,989 2027 39,332 2028 33,277 After 2028 63,417 Total lease payments $ 341,271 Less: Difference between discounted and undiscounted lease payments 49,809 Present value of lease liabilities $ 291,462

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Oct. 28, 2023
Income Taxes
Income Taxes	5. Income Taxes: For the First Nine Months of Fiscal 2023, our effective income tax rate was 23.4%, which is lower than a more typical annual effective tax rate of approximately 25% primarily due to the significant benefit from the vesting of restricted stock awards at a price higher than the grant date fair value and the favorable utilization of research and development tax credits and adjustments to the US taxation on foreign earnings. For the First Nine Months of Fiscal 2022, our effective income tax rate was 24.7%. The First Nine Months of Fiscal 2022 included the utilization of certain net operating loss carryforward amounts in certain state and foreign jurisdictions and other items. Inflation Reduction Act of 2022 On August 16, 2022, the U.S. government enacted the Inflation Reduction Act (“IRA”) into law. The IRA implemented a corporate alternative minimum tax, subject to certain thresholds being met, and a 1% excise tax on share repurchases effective beginning January 1, 2023. We do not currently expect that the tax-related provisions of the IRA will have a material effect on our reported results, cash flows or financial position. For the First Nine Months of Fiscal 2023, excise taxes included as part of the price of common stock repurchased during the period did not have a material effect on our reported results.

Shareholders' Equity

Shareholders' Equity	9 Months Ended
Shareholders' Equity	Oct. 28, 2023
Shareholders' Equity
Shareholders' Equity	6. Shareholders’ Equity: We also repurchase shares from our employees to cover employee tax liabilities related to the vesting of shares of our common stock. During the First Nine Months of Fiscal 2023 and the First Nine Months of Fiscal 2022, we repurchased $10 million and $3 million of shares, respectively, from our employees to cover employee tax liabilities related to the vesting of shares of our common stock. The following tables detail the changes (in thousands) in our common stock, additional paid-in capital ("APIC"), retained earnings and accumulated other comprehensive (loss) income ("AOCI"), for each period presented. Fiscal 2022 Common Stock APIC Retained Earnings AOCI Total January 29, 2022 $ 16,805 $ 163,156 $ 331,175 $ (3,472) $ 507,664 Comprehensive income — — 57,408 477 57,885 Shares issued under equity plans 5 387 — — 392 Compensation expense for equity awards — 2,725 — — 2,725 Repurchase of shares (526) (3,131) (42,375) — (46,032) Dividends declared — — (9,214) — (9,214) April 30, 2022 $ 16,284 $ 163,137 $ 336,994 $ (2,995) $ 513,420 Comprehensive income — — 56,612 (125) 56,487 Shares issued under equity plans 15 475 — — 490 Compensation expense for equity awards — 2,527 — — 2,527 Repurchase of shares (339) — (29,475) — (29,814) Dividends declared — — (9,094) — (9,094) July 30, 2022 $ 15,960 $ 166,139 $ 355,037 $ (3,120) $ 534,016 Comprehensive income — — 19,666 (450) 19,216 Shares issued under equity plans 1 379 — — 380 Compensation expense for equity awards — 2,545 — — 2,545 Repurchase of shares (146) — (13,977) — (14,123) Dividends declared — — (8,995) — (8,995) October 29, 2022 $ 15,815 $ 169,063 $ 351,731 $ (3,570) $ 533,039 Comprehensive income — — 32,049 1,746 33,795 Shares issued under equity plans 5 332 — — 337 Compensation expense for equity awards — 2,780 — — 2,780 Repurchase of shares (46) — (4,824) — (4,870) Dividends declared — — (8,811) — (8,811) January 28, 2023 $ 15,774 $ 172,175 $ 370,145 $ (1,824) $ 556,270 First Nine Months Fiscal 2023 Common Stock APIC Retained Earnings AOCI Total January 28, 2023 $ 15,774 $ 172,175 $ 370,145 $ (1,824) $ 556,270 Comprehensive income — — 58,538 (604) 57,934 Shares issued under equity plans 6 596 — — 602 Compensation expense for equity awards — 3,259 — — 3,259 Repurchase of shares — — — — — Dividends declared — — (10,640) — (10,640) April 29, 2023 $ 15,780 $ 176,030 $ 418,043 $ (2,428) $ 607,425 Comprehensive income — — 51,453 319 51,772 Shares issued under equity plans 130 358 — — 488 Compensation expense for equity awards — 4,249 — — 4,249 Repurchase of shares (280) (9,848) (18,800) — (28,928) Dividends declared — — (10,377) — (10,377) July 29, 2023 $ 15,630 $ 170,789 $ 440,319 $ (2,109) $ 624,629 Comprehensive income — — 10,782 (888) 9,894 Shares issued under equity plans 5 415 — — 420 Compensation expense for equity awards — 3,526 — — 3,526 Repurchase of shares (10) — (1,056) — (1,066) Dividends declared — — (10,290) — (10,290) October 28, 2023 $ 15,625 $ 174,730 $ 439,755 $ (2,997) $ 627,113 Long-Term Stock Incentive Plan and Equity Compensation Expense In recent years, we have granted a combination of service-based restricted share awards and awards based on relative total shareholder return ("TSR") to certain select employees. Service-Based Restricted Share Awards The table below summarizes the service-based restricted share awards, including both restricted shares and restricted share units, activity for the First Nine Months of Fiscal 2023: First Nine Months of Fiscal 2023 Weighted- Number of average Shares or grant date Units fair value Awards outstanding at beginning of year 212,945 $ 64 Awards granted 60,105 $ 115 Awards vested, including awards repurchased from employees for employees’ tax liability (111,095) $ 41 Awards forfeited (2,670) $ 80 Awards outstanding on October 28, 2023 159,285 $ 99 TSR-based Restricted Share Units The table below summarizes the TSR-based restricted share unit activity at target for the First Nine Months of Fiscal 2023: First Nine Months of Fiscal 2023 Weighted- average Number of grant date Share Units fair value TSR-based awards outstanding at beginning of year 196,040 $ 89 TSR-based awards granted 74,605 $ 153 TSR-based restricted shares earned and vested, including restricted share units repurchased from employees for employees’ tax liability (76,340) $ 50 TSR-based awards forfeited (550) $ 113 TSR-based awards outstanding on October 28, 2023 193,755 $ 129

Business Combinations

Business Combinations	9 Months Ended
Business Combinations	Oct. 28, 2023
Business Combinations
Business Combinations	7. Business Combinations: The final estimated acquisition-date fair values of major classes of assets acquired and liabilities assumed, including a reconciliation to the total purchase consideration, were as follows (in thousands): Provisional Amounts at January 28, 2023 Measurement Period Adjustments Final Amounts at October 28, 2023 Cash and cash equivalents $ 7,296 $ — $ 7,296 Receivables 8,777 — 8,777 Inventories 23,434 (28) 23,406 Prepaid expenses and other assets 6,353 — 6,353 Property and equipment 21,108 (947) 20,161 Intangible assets 134,640 — 134,640 Goodwill 96,637 2,599 99,236 Operating lease assets 54,859 — 54,859 Accounts payable, accrued expenses and other liabilities (34,777) 699 (34,078) Non-current portion of operating lease liabilities (47,009) — (47,009) Purchase price $ 271,318 $ 2,323 $ 273,641 We made measurement-period adjustments, as shown in the table above, that increased the amount of provisional goodwill by $3 million. Substantially all of the goodwill is deductible for income tax purposes. Intangible assets allocated in connection with our 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 $ 56,740 Trade names and trademarks Indefinite 77,900 $ 134,640 The following unaudited pro forma information (in thousands, except per share data) shows the results of our operations for the Third Quarter of Fiscal 2022 and First Nine Months of 2022 as if the acquisition of Johnny Was had occurred at 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 that date and is not intended to be a projection of future results of operations. The following unaudited 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. Third Quarter Fiscal 2022 First Nine Months of Fiscal 2022 Actual Pro Forma Actual Pro Forma Net sales $ 313,033 $ 344,058 $ 1,029,044 $ 1,163,889 Earnings before income taxes $ 26,617 $ 34,444 $ 177,450 $ 196,700 Net earnings $ 19,666 $ 25,536 $ 133,686 $ 148,124 Earnings per share: Basic $ 1.25 $ 1.62 $ 8.36 $ 9.26 Diluted $ 1.22 $ 1.58 $ 8.19 $ 9.07

Debt

Debt	9 Months Ended
Debt	Oct. 28, 2023
Debt
Debt	8. Debt: corporate purposes. The Revolving Credit Agreement amended and restated our Fourth Amended and Restated Credit Agreement (the “Prior Credit Agreement”). The Revolving Credit Agreement (1) extended the maturity of the facility from July 2024 to March 2028 and (2) modified certain provisions of the agreement. In other non-current assets, we capitalized debt issuance costs of $2 million in connection with commitments upon entering into the Revolving Credit Agreement. Pursuant to the Revolving Credit Agreement, the interest rate applicable to our borrowings under the Revolving Credit Agreement are based on either the Term Secured Overnight Financing Rate plus an applicable margin of 135 to 185 basis points or prime plus an applicable margin of 25 to 75 basis points. The 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 7% as of October 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. We have issued standby letters of credit of $6 million in the aggregate under the Revolving Credit Agreement as of October 28, 2023. Outstanding letters of credit under the Revolving Credit Agreement reduce the amount of borrowings available to us. As of October 28, 2023, we had $66 million of borrowings outstanding and $253 million in unused availability under the Revolving Credit Agreement. Under the Prior Credit Agreement as of January 28, 2023, and October 29, 2022, we had $119 million and $130 million of borrowings outstanding, and $199 million and $160 million of unused availability, respectively. Compliance with Covenants The 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 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 Revolving Credit Agreement contains a financial covenant that applies only if excess availability under the agreement for three 12 30 We believe that the affirmative covenants, negative covenants, financial covenants and other restrictions under the Revolving Credit Agreement are customary for those included in similar facilities entered into at the time we amended the Revolving Credit Agreement. During Fiscal 2023 and as of October 28, 2023, no financial covenant testing was required pursuant to our Revolving Credit Agreement, or the Prior Credit Agreement, as applicable, as the minimum availability threshold was met at all times. As of October 28, 2023, we were compliant with all applicable covenants related to the Revolving Credit Agreement.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
Basis of Presentation (Policies)	Oct. 28, 2023
Basis of Presentation
Basis of Presentation	1. Basis of Presentation: The preparation of our unaudited condensed 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.
Recently Issued Accounting Standards Applicable to Future Periods	The significant accounting policies applied during the interim periods presented are consistent with the significant accounting policies described in our Fiscal 2022 Form 10-K. No recently issued guidance adopted in Fiscal 2023 had a material impact on our consolidated financial statements upon adoption or is expected to have a material impact in future periods. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Fiscal 2022 Form 10-K. Recent accounting pronouncements pending adoption are either not applicable or not expected to have a material impact on our consolidated financial statements.

Operating Groups (Tables)

Operating Groups (Tables)	9 Months Ended
Operating Groups (Tables)	Oct. 28, 2023
Operating Groups
Schedule of financial information by operating group	The table below presents certain financial information (in thousands) about our operating groups, as well as Corporate and Other. Third Quarter First Nine Months Fiscal 2023 Fiscal 2022 Fiscal 2023 Fiscal 2022 Net sales Tommy Bahama $ 170,144 $ 178,645 $ 655,022 $ 650,677 Lilly Pulitzer 76,290 84,053 265,089 264,763 Johnny Was (1) 49,105 22,661 150,619 22,661 Emerging Brands 31,155 26,912 96,726 88,588 Corporate and Other (64) 762 (410) 2,355 Consolidated net sales $ 326,630 $ 313,033 $ 1,167,046 $ 1,029,044 Depreciation and amortization Tommy Bahama $ 6,299 $ 6,576 $ 18,356 $ 20,110 Lilly Pulitzer 4,372 3,288 11,743 9,384 Johnny Was (1) 4,684 2,184 14,593 2,184 Emerging Brands 504 391 1,389 1,143 Corporate and Other 161 197 398 627 Consolidated depreciation and amortization $ 16,020 $ 12,636 $ 46,479 $ 33,448 Operating income (loss) Tommy Bahama $ 12,097 $ 18,984 $ 118,655 $ 130,508 Lilly Pulitzer 6,769 12,688 49,851 60,358 Johnny Was (1) 935 117 7,266 117 Emerging Brands 3,709 3,729 10,650 15,456 Corporate and Other (9,050) (8,203) (23,987) (27,775) Consolidated operating income 14,460 27,315 $ 162,435 $ 178,664 Interest expense, net 1,217 698 4,856 1,214 Earnings before income taxes $ 13,243 $ 26,617 $ 157,579 $ 177,450 October 28, 2023 January 28, 2023 October 29, 2022 Assets Tommy Bahama (2) $ 563,564 $ 569,833 $ 544,947 Lilly Pulitzer (3) 192,566 211,119 192,609 Johnny Was (4) 331,131 334,603 350,212 Emerging Brands (5) 86,790 91,306 83,280 Corporate and Other (6) (11,895) (18,196) (30,731) Consolidated Total Assets $ 1,162,156 $ 1,188,665 $ 1,140,317 (1) The Johnny Was business was acquired on September 19, 2022. Activities for the Third Quarter of Fiscal 2022 and First Nine Months of Fiscal 2022 for Johnny Was consist of six weeks of activity from the acquisition date through October 29, 2022. (2) Increase in Tommy Bahama total assets from October 29, 2022, includes increases in operating lease assets and property and equipment. (3) Change in Lilly Pulitzer total assets from October 29, 2022, includes decreases in operating lease assets and receivables partially offset by an increase in property and equipment. (4) Decrease in Johnny Was total assets from October 29, 2022, includes decreases in intangible assets and cash and cash equivalents. (5) Increase in Emerging Brands total assets from October 29, 2022, includes increases in operating lease assets. (6) Increase in Corporate and Other total assets from October 29, 2022, includes increases in prepaid taxes.
Schedule of net sales by operating group	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. We have calculated all percentages below based on actual data, and percentages may not add to 100 due to rounding. Third Quarter Fiscal 2023 Net Sales Retail E-commerce Food & Beverage Wholesale Other Tommy Bahama $ 170,144 45 % 21 % 13 % 21 % — % Lilly Pulitzer 76,290 31 % 58 % — % 11 % — % Johnny Was 49,105 39 % 41 % — % 20 % — % Emerging Brands 31,155 12 % 41 % — % 47 % — % Corporate and Other (64) — % — % — % — % NM % Total $ 326,630 37 % 35 % 7 % 21 % — % Third Quarter Fiscal 2022 Net Sales Retail E-commerce Food & Beverage Wholesale Other Tommy Bahama $ 178,645 44 % 20 % 13 % 23 % — % Lilly Pulitzer 84,053 27 % 62 % — % 11 % — % Johnny Was (1) 22,661 38 % 41 % — 21 % — % Emerging Brands 26,912 5 % 40 % — % 55 % — % Corporate and Other 762 — % — % — % — % NM % Total $ 313,033 36 % 34 % 7 % 22 % — % First Nine Months 2023 Net Sales Retail E ‑ commerce Food & Beverage Wholesale Other Tommy Bahama $ 655,022 45 % 23 % 13 % 19 % — % Lilly Pulitzer 265,089 34 % 51 % — % 15 % — % Johnny Was 150,619 38 % 40 % — % 22 % — % Emerging Brands 96,726 10 % 42 % — % 48 % — % Corporate and Other (410) — % — % — % — % NM % Consolidated net sales $ 1,167,046 38 % 34 % 7 % 21 % — % First Nine Months 2022 Net Sales Retail E ‑ commerce Food & Beverage Wholesale Other Tommy Bahama $ 650,677 46 % 23 % 12 % 19 % — % Lilly Pulitzer 264,763 34 % 49 % — % 17 % — % Johnny Was (1) 22,661 38 % 41 % — % 21 % — % Emerging Brands 88,588 5 % 39 % — % 56 % — % Corporate and Other 2,355 — % — % — % — % NM % Consolidated net sales $ 1,029,044 39 % 31 % 8 % 21 % — % (1) The Johnny Was business was acquired on September 19, 2022. Activities for the Third Quarter of Fiscal 2022 and First Nine Months of Fiscal 2022 for Johnny Was consist of six weeks of activity from the acquisition date through October 29, 2022.

Revenue Recognition and Recei_2

Revenue Recognition and Receivables (Tables)	9 Months Ended
Revenue Recognition and Receivables (Tables)	Oct. 28, 2023
Revenue Recognition and Receivables
Schedule of net sales by distribution channel	The table below quantifies net sales by distribution channel (in thousands) for each period presented. Third Quarter First Nine Months Fiscal 2023 Fiscal 2022 Fiscal 2023 Fiscal 2022 Retail $ 121,804 $ 112,344 $ 449,546 $ 402,400 E-commerce 113,531 107,756 391,559 323,045 Food & Beverage 22,562 23,157 84,097 81,333 Wholesale 68,716 69,292 241,857 220,707 Other 17 484 (13) 1,559 Net sales $ 326,630 $ 313,033 $ 1,167,046 $ 1,029,044

Leases and Other Commitments (T

Leases and Other Commitments (Tables)	9 Months Ended
Leases and Other Commitments (Tables)	Oct. 28, 2023
Leases and Other Commitments
Schedule of lease liability payments	As of October 28, 2023, the stated lease liability payments for the fiscal years specified below were as follows (in thousands): Operating lease Remainder of 2023 $ 19,761 2024 73,791 2025 58,704 2026 52,989 2027 39,332 2028 33,277 After 2028 63,417 Total lease payments $ 341,271 Less: Difference between discounted and undiscounted lease payments 49,809 Present value of lease liabilities $ 291,462

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	9 Months Ended
Shareholders' Equity (Tables)	Oct. 28, 2023
Equity Compensation
Schedule of stockholders equity	The following tables detail the changes (in thousands) in our common stock, additional paid-in capital ("APIC"), retained earnings and accumulated other comprehensive (loss) income ("AOCI"), for each period presented. Fiscal 2022 Common Stock APIC Retained Earnings AOCI Total January 29, 2022 $ 16,805 $ 163,156 $ 331,175 $ (3,472) $ 507,664 Comprehensive income — — 57,408 477 57,885 Shares issued under equity plans 5 387 — — 392 Compensation expense for equity awards — 2,725 — — 2,725 Repurchase of shares (526) (3,131) (42,375) — (46,032) Dividends declared — — (9,214) — (9,214) April 30, 2022 $ 16,284 $ 163,137 $ 336,994 $ (2,995) $ 513,420 Comprehensive income — — 56,612 (125) 56,487 Shares issued under equity plans 15 475 — — 490 Compensation expense for equity awards — 2,527 — — 2,527 Repurchase of shares (339) — (29,475) — (29,814) Dividends declared — — (9,094) — (9,094) July 30, 2022 $ 15,960 $ 166,139 $ 355,037 $ (3,120) $ 534,016 Comprehensive income — — 19,666 (450) 19,216 Shares issued under equity plans 1 379 — — 380 Compensation expense for equity awards — 2,545 — — 2,545 Repurchase of shares (146) — (13,977) — (14,123) Dividends declared — — (8,995) — (8,995) October 29, 2022 $ 15,815 $ 169,063 $ 351,731 $ (3,570) $ 533,039 Comprehensive income — — 32,049 1,746 33,795 Shares issued under equity plans 5 332 — — 337 Compensation expense for equity awards — 2,780 — — 2,780 Repurchase of shares (46) — (4,824) — (4,870) Dividends declared — — (8,811) — (8,811) January 28, 2023 $ 15,774 $ 172,175 $ 370,145 $ (1,824) $ 556,270 First Nine Months Fiscal 2023 Common Stock APIC Retained Earnings AOCI Total January 28, 2023 $ 15,774 $ 172,175 $ 370,145 $ (1,824) $ 556,270 Comprehensive income — — 58,538 (604) 57,934 Shares issued under equity plans 6 596 — — 602 Compensation expense for equity awards — 3,259 — — 3,259 Repurchase of shares — — — — — Dividends declared — — (10,640) — (10,640) April 29, 2023 $ 15,780 $ 176,030 $ 418,043 $ (2,428) $ 607,425 Comprehensive income — — 51,453 319 51,772 Shares issued under equity plans 130 358 — — 488 Compensation expense for equity awards — 4,249 — — 4,249 Repurchase of shares (280) (9,848) (18,800) — (28,928) Dividends declared — — (10,377) — (10,377) July 29, 2023 $ 15,630 $ 170,789 $ 440,319 $ (2,109) $ 624,629 Comprehensive income — — 10,782 (888) 9,894 Shares issued under equity plans 5 415 — — 420 Compensation expense for equity awards — 3,526 — — 3,526 Repurchase of shares (10) — (1,056) — (1,066) Dividends declared — — (10,290) — (10,290) October 28, 2023 $ 15,625 $ 174,730 $ 439,755 $ (2,997) $ 627,113
Restricted shares and restricted share units, excluding TSR-based restricted share units
Equity Compensation
Summary of award activity	First Nine Months of Fiscal 2023 Weighted- Number of average Shares or grant date Units fair value Awards outstanding at beginning of year 212,945 $ 64 Awards granted 60,105 $ 115 Awards vested, including awards repurchased from employees for employees’ tax liability (111,095) $ 41 Awards forfeited (2,670) $ 80 Awards outstanding on October 28, 2023 159,285 $ 99
TSR-based Restricted Share Units
Equity Compensation
Summary of award activity	First Nine Months of Fiscal 2023 Weighted- average Number of grant date Share Units fair value TSR-based awards outstanding at beginning of year 196,040 $ 89 TSR-based awards granted 74,605 $ 153 TSR-based restricted shares earned and vested, including restricted share units repurchased from employees for employees’ tax liability (76,340) $ 50 TSR-based awards forfeited (550) $ 113 TSR-based awards outstanding on October 28, 2023 193,755 $ 129

Business Combinations (Tables)

Business Combinations (Tables)	9 Months Ended
Business Combinations (Tables)	Oct. 28, 2023
Business Combinations
Summary of our preliminary allocation of the purchase price	The final estimated acquisition-date fair values of major classes of assets acquired and liabilities assumed, including a reconciliation to the total purchase consideration, were as follows (in thousands): Provisional Amounts at January 28, 2023 Measurement Period Adjustments Final Amounts at October 28, 2023 Cash and cash equivalents $ 7,296 $ — $ 7,296 Receivables 8,777 — 8,777 Inventories 23,434 (28) 23,406 Prepaid expenses and other assets 6,353 — 6,353 Property and equipment 21,108 (947) 20,161 Intangible assets 134,640 — 134,640 Goodwill 96,637 2,599 99,236 Operating lease assets 54,859 — 54,859 Accounts payable, accrued expenses and other liabilities (34,777) 699 (34,078) Non-current portion of operating lease liabilities (47,009) — (47,009) Purchase price $ 271,318 $ 2,323 $ 273,641
Summary of Intangible assets allocated in connection with our preliminary purchase price allocation	Intangible assets allocated in connection with our 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 $ 56,740 Trade names and trademarks Indefinite 77,900 $ 134,640
Schedule of pro forma statements of operations	The following unaudited pro forma information (in thousands, except per share data) shows the results of our operations for the Third Quarter of Fiscal 2022 and First Nine Months of 2022 as if the acquisition of Johnny Was had occurred at the beginning of Fiscal 2021. Third Quarter Fiscal 2022 First Nine Months of Fiscal 2022 Actual Pro Forma Actual Pro Forma Net sales $ 313,033 $ 344,058 $ 1,029,044 $ 1,163,889 Earnings before income taxes $ 26,617 $ 34,444 $ 177,450 $ 196,700 Net earnings $ 19,666 $ 25,536 $ 133,686 $ 148,124 Earnings per share: Basic $ 1.25 $ 1.62 $ 8.36 $ 9.26 Diluted $ 1.22 $ 1.58 $ 8.19 $ 9.07

Operating Groups - Financial in

Operating Groups - Financial information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Operating groups
Net sales	$ 326,630	$ 313,033	$ 1,167,046	$ 1,029,044
Depreciation and amortization	16,020	12,636	46,479	33,448
Operating income	14,460	27,315	162,435	178,664
Interest expense, net	1,217	698	4,856	1,214
Earnings before income taxes	13,243	26,617	157,579	177,450
Corporate and Other
Operating groups
Net sales	(64)	762	(410)	2,355
Depreciation and amortization	161	197	398	627
Operating income	(9,050)	(8,203)	(23,987)	(27,775)
Tommy Bahama \| Operating Segments
Operating groups
Net sales	170,144	178,645	655,022	650,677
Depreciation and amortization	6,299	6,576	18,356	20,110
Operating income	12,097	18,984	118,655	130,508
Lilly Pulitzer \| Operating Segments
Operating groups
Net sales	76,290	84,053	265,089	264,763
Depreciation and amortization	4,372	3,288	11,743	9,384
Operating income	6,769	12,688	49,851	60,358
Johnny Was \| Operating Segments
Operating groups
Net sales	49,105	22,661	150,619	22,661
Depreciation and amortization	4,684	2,184	14,593	2,184
Operating income	935	117	7,266	117
Emerging Brands \| Operating Segments
Operating groups
Net sales	31,155	26,912	96,726	88,588
Depreciation and amortization	504	391	1,389	1,143
Operating income	$ 3,709	$ 3,729	$ 10,650	$ 15,456

Operating Groups - Assets (Deta

Operating Groups - Assets (Details) - USD ($) $ in Thousands	Oct. 28, 2023	Jan. 28, 2023	Oct. 29, 2022
Operating groups
Assets	$ 1,162,156	$ 1,188,665	$ 1,140,317
Corporate and Other
Operating groups
Assets	(11,895)	(18,196)	(30,731)
Tommy Bahama \| Operating Segments
Operating groups
Assets	563,564	569,833	544,947
Lilly Pulitzer \| Operating Segments
Operating groups
Assets	192,566	211,119	192,609
Johnny Was \| Operating Segments
Operating groups
Assets	331,131	334,603	350,212
Emerging Brands \| Operating Segments
Operating groups
Assets	$ 86,790	$ 91,306	$ 83,280

Operating Groups - Sales by ope

Operating Groups - Sales by operating group (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Operating groups
Net sales	$ 326,630	$ 313,033	$ 1,167,046	$ 1,029,044
Operating Segments \| Tommy Bahama
Operating groups
Net sales	170,144	178,645	655,022	650,677
Operating Segments \| Lilly Pulitzer
Operating groups
Net sales	76,290	84,053	265,089	264,763
Operating Segments \| Johnny Was
Operating groups
Net sales	49,105	22,661	150,619	22,661
Operating Segments \| Emerging Brands
Operating groups
Net sales	31,155	26,912	96,726	88,588
Corporate and Other
Operating groups
Net sales	(64)	762	(410)	2,355
Retail
Operating groups
Net sales	$ 121,804	$ 112,344	$ 449,546	$ 402,400
Net sales (as a percent)	37%	36%	38%	39%
Retail \| Operating Segments \| Tommy Bahama
Operating groups
Net sales (as a percent)	45%	44%	45%	46%
Retail \| Operating Segments \| Lilly Pulitzer
Operating groups
Net sales (as a percent)	31%	27%	34%	34%
Retail \| Operating Segments \| Johnny Was
Operating groups
Net sales (as a percent)	39%	38%	38%	38%
Retail \| Operating Segments \| Emerging Brands
Operating groups
Net sales (as a percent)	12%	5%	10%	5%
E-commerce
Operating groups
Net sales	$ 113,531	$ 107,756	$ 391,559	$ 323,045
Net sales (as a percent)	35%	34%	34%	31%
E-commerce \| Operating Segments \| Tommy Bahama
Operating groups
Net sales (as a percent)	21%	20%	23%	23%
E-commerce \| Operating Segments \| Lilly Pulitzer
Operating groups
Net sales (as a percent)	58%	62%	51%	49%
E-commerce \| Operating Segments \| Johnny Was
Operating groups
Net sales (as a percent)	41%	41%	40%	41%
E-commerce \| Operating Segments \| Emerging Brands
Operating groups
Net sales (as a percent)	41%	40%	42%	39%
Food & Beverage
Operating groups
Net sales	$ 22,562	$ 23,157	$ 84,097	$ 81,333
Net sales (as a percent)	7%	7%	7%	8%
Food & Beverage \| Operating Segments \| Tommy Bahama
Operating groups
Net sales (as a percent)	13%	13%	13%	12%
Wholesale
Operating groups
Net sales	$ 68,716	$ 69,292	$ 241,857	$ 220,707
Net sales (as a percent)	21%	22%	21%	21%
Wholesale \| Operating Segments \| Tommy Bahama
Operating groups
Net sales (as a percent)	21%	23%	19%	19%
Wholesale \| Operating Segments \| Lilly Pulitzer
Operating groups
Net sales (as a percent)	11%	11%	15%	17%
Wholesale \| Operating Segments \| Johnny Was
Operating groups
Net sales (as a percent)	20%	21%	22%	21%
Wholesale \| Operating Segments \| Emerging Brands
Operating groups
Net sales (as a percent)	47%	55%	48%	56%
Other
Operating groups
Net sales	$ 17	$ 484	$ (13)	$ 1,559

Revenue Recognition and Recei_3

Revenue Recognition and Receivables - Net sales by distribution channel (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Revenue
Net sales	$ 326,630	$ 313,033	$ 1,167,046	$ 1,029,044
Retail
Revenue
Net sales	121,804	112,344	449,546	402,400
E-commerce
Revenue
Net sales	113,531	107,756	391,559	323,045
Food & Beverage
Revenue
Net sales	22,562	23,157	84,097	81,333
Wholesale
Revenue
Net sales	68,716	69,292	241,857	220,707
Other
Revenue
Net sales	$ 17	$ 484	$ (13)	$ 1,559

Revenue Recognition and Recei_4

Revenue Recognition and Receivables - Credit losses and receivables (Details) - USD ($) $ in Millions	Oct. 28, 2023	Jan. 28, 2023	Oct. 29, 2022
Revenue Recognition and Receivables
Sales return liability	$ 8	$ 12	$ 9
Value of inventory for direct to consumer and wholesale sales returns	3	4	4
Receivable reserve	3	4	5
Credit loss reserve	1	1	1
Contract liabilities	$ 18	$ 19	$ 17

Leases and Other Commitments -

Leases and Other Commitments - Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Leases and Other Commitments
Operating lease expense	$ 18		$ 53
Variable lease expense	10		32
Total lease expense	$ 28	$ 25	85	$ 75
Cash paid for lease liabilities			$ 61	$ 53

Leases and Other Commitments _2

Leases and Other Commitments - Lease liability payment schedule (Details) $ in Thousands	Oct. 28, 2023 USD ($)
Required lease liability payments due
Remainder of 2023	$ 19,761
2024	73,791
2025	58,704
2026	52,989
2027	39,332
2028	33,277
After 2028	63,417
Total lease payments	341,271
Less: Difference between discounted and undiscounted lease payments	49,809
Present value of lease liabilities	$ 291,462
Operating Lease, Liability, Statement of Financial Position	Current portion of operating lease liabilities, Non-current portion of operating lease liabilities

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
Income Taxes (Details)	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Income Taxes
Effective income tax rate (as a percent)	18.60%	26.10%	23.40%	24.70%
Typical annual effective tax rate (as a percent)	25%		25%

Shareholders' Equity - Share Re

Shareholders' Equity - Share Repurchases (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Shareholders' Equity
Repurchase of shares (in shares)	10	146	196	976
Repurchase of shares (in dollars)	$ 1	$ 14	$ 20	$ 87
Purchase of shares from employees to cover employee tax liabilities of vesting of shares (in dollars)			$ 10	$ 3

Shareholders' Equity - Schedule

Shareholders' Equity - Schedule of changes (Details) - USD ($) $ in Thousands	3 Months Ended							9 Months Ended
	Oct. 28, 2023	Jul. 29, 2023	Apr. 29, 2023	Jan. 28, 2023	Oct. 29, 2022	Jul. 30, 2022	Apr. 30, 2022	Oct. 28, 2023	Oct. 29, 2022
Shareholders' Equity
Beginning Balance	$ 624,629	$ 607,425	$ 556,270	$ 533,039	$ 534,016	$ 513,420	$ 507,664	$ 556,270	$ 507,664
Comprehensive income	9,894	51,772	57,934	33,795	19,216	56,487	57,885	119,600	133,588
Shares issued under equity plans	420	488	602	337	380	490	392
Compensation expense for equity awards	3,526	4,249	3,259	2,780	2,545	2,527	2,725
Repurchase of shares	(1,066)	(28,928)		(4,870)	(14,123)	(29,814)	(46,032)
Dividends declared	(10,290)	(10,377)	(10,640)	(8,811)	(8,995)	(9,094)	(9,214)
Ending Balance	627,113	624,629	607,425	556,270	533,039	534,016	513,420	627,113	533,039
Common Stock
Shareholders' Equity
Beginning Balance	15,630	15,780	15,774	15,815	15,960	16,284	16,805	15,774	16,805
Shares issued under equity plans	5	130	6	5	1	15	5
Repurchase of shares	(10)	(280)		(46)	(146)	(339)	(526)
Ending Balance	15,625	15,630	15,780	15,774	15,815	15,960	16,284	15,625	15,815
Additional Paid-In Capital
Shareholders' Equity
Beginning Balance	170,789	176,030	172,175	169,063	166,139	163,137	163,156	172,175	163,156
Shares issued under equity plans	415	358	596	332	379	475	387
Compensation expense for equity awards	3,526	4,249	3,259	2,780	2,545	2,527	2,725
Repurchase of shares		(9,848)					(3,131)
Ending Balance	174,730	170,789	176,030	172,175	169,063	166,139	163,137	174,730	169,063
Retained Earnings
Shareholders' Equity
Beginning Balance	440,319	418,043	370,145	351,731	355,037	336,994	331,175	370,145	331,175
Comprehensive income	10,782	51,453	58,538	32,049	19,666	56,612	57,408
Repurchase of shares	(1,056)	(18,800)		(4,824)	(13,977)	(29,475)	(42,375)
Dividends declared	(10,290)	(10,377)	(10,640)	(8,811)	(8,995)	(9,094)	(9,214)
Ending Balance	439,755	440,319	418,043	370,145	351,731	355,037	336,994	439,755	351,731
Accumulated Other Comprehensive (Loss) Income
Shareholders' Equity
Beginning Balance	(2,109)	(2,428)	(1,824)	(3,570)	(3,120)	(2,995)	(3,472)	(1,824)	(3,472)
Comprehensive income	(888)	319	(604)	1,746	(450)	(125)	477
Ending Balance	$ (2,997)	$ (2,109)	$ (2,428)	$ (1,824)	$ (3,570)	$ (3,120)	$ (2,995)	$ (2,997)	$ (3,570)

Shareholders' Equity - Service-

Shareholders' Equity - Service-Based Restricted Share Awards (Details) - Restricted shares and restricted share units, excluding TSR-based restricted share units	9 Months Ended
	Oct. 28, 2023 $ / shares shares
Number of Shares
Awards outstanding at beginning of year (in shares) \| shares	212,945
Awards granted (in shares) \| shares	60,105
Awards vested, including awards repurchased from employees for employees' tax liability (in shares) \| shares	(111,095)
Awards forfeited (in shares) \| shares	(2,670)
Awards outstanding at end of period (in shares) \| shares	159,285
Weighted-average grant date fair value
Awards outstanding at beginning of year (in dollars per share) \| $ / shares	$ 64
Awards granted/issued (in dollars per share) \| $ / shares	115
Awards vested, including awards repurchased from employees for employees' tax liability (in dollars per share) \| $ / shares	41
Awards forfeited (in dollars per share) \| $ / shares	80
Awards outstanding at end of period (in dollars per share) \| $ / shares	$ 99

Shareholders' Equity - TSR-base

Shareholders' Equity - TSR-based Restricted Share Units (Details) - TSR-based Restricted Share Units	9 Months Ended
	Oct. 28, 2023 $ / shares shares
Number of Shares
Awards outstanding at beginning of year (in shares) \| shares	196,040
Awards granted (in shares) \| shares	74,605
Awards vested, including awards repurchased from employees for employees' tax liability (in shares) \| shares	(76,340)
Awards forfeited (in shares) \| shares	(550)
Awards outstanding at end of period (in shares) \| shares	193,755
Weighted-average grant date fair value
Awards outstanding at beginning of year (in dollars per share) \| $ / shares	$ 89
Awards granted/issued (in dollars per share) \| $ / shares	153
Awards vested, including awards repurchased from employees for employees' tax liability (in dollars per share) \| $ / shares	50
Awards forfeited (in dollars per share) \| $ / shares	113
Awards outstanding at end of period (in dollars per share) \| $ / shares	$ 129

Business Combinations - Prelimi

Business Combinations - Preliminary allocation of purchase price (Details) - USD ($) $ in Thousands	9 Months Ended
	Oct. 28, 2023	Jan. 28, 2023	Oct. 29, 2022
Business Combinations
Goodwill	$ 124,230	$ 120,498	$ 116,268
Johnny Was (JW Holdings, LLC)
Business Combinations
Cash and cash equivalents	7,296	7,296
Receivables	8,777	8,777
Inventories	23,406	23,434
Prepaid expenses and other assets	6,353	6,353
Property and equipment	20,161	21,108
Intangible assets	134,640	134,640
Goodwill	99,236	96,637
Operating lease assets	54,859	54,859
Accounts payable, accrued expenses and other liabilities	(34,078)	(34,777)
Non-current portion of operating lease liabilities	(47,009)	(47,009)
Purchase price	273,641	$ 271,318
Measurement Period Adjustments
Inventories	(28)
Property and equipment	(947)
Goodwill	2,599
Accounts payable, accrued expenses and other liabilities	699
Purchase price	$ 2,323

Business Combinations - Intangi

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

Business Combinations - Proform

Business Combinations - Proforma (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Actual
Net sales	$ 326,630	$ 313,033	$ 1,167,046	$ 1,029,044
Earnings before income taxes	13,243	26,617	157,579	177,450
Net Income (Loss)	$ 10,782	$ 19,666	$ 120,773	$ 133,686
Net earnings per share:
Basic (in dollars per share)	$ 0.69	$ 1.25	$ 7.75	$ 8.36
Diluted (in dollars per share)	$ 0.68	$ 1.22	$ 7.57	$ 8.19
Pro Forma
Net sales		$ 344,058		$ 1,163,889
Earnings before income taxes		34,444		196,700
Net earnings		$ 25,536		$ 148,124
Earnings per share:
Basic (in dollars per share)		$ 1.62		$ 9.26
Diluted (in dollars per share)		$ 1.58		$ 9.07

Debt (Details)

Debt (Details) - Revolving Credit Agreement - USD ($) $ in Millions	Mar. 06, 2023	Oct. 28, 2023	Jan. 28, 2023	Oct. 29, 2022
Debt
Maximum borrowing capacity	$ 325
Capitalized debt issuance costs	$ 2
Weighted average interest rate (as a percent)	7%
Letters of credit outstanding		$ 6
Borrowings outstanding		66	$ 119	$ 130
Unused availability		$ 253	$ 199	$ 160
Compliance with Covenants
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%
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
Compliance with Covenants
Fixed charge coverage ratio	1
Minimum \| Secured Overnight Financing Rate (SOFR)
Debt
Applicable margin (as a percent)	1.35%
Minimum \| Prime Rate
Debt
Applicable margin (as a percent)	0.25%
Maximum \| Secured Overnight Financing Rate (SOFR)
Debt
Applicable margin (as a percent)	1.85%
Maximum \| Prime Rate
Debt
Applicable margin (as a percent)	0.75%

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Oct. 28, 2023	Oct. 29, 2022	Oct. 28, 2023	Oct. 29, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 10,782	$ 19,666	$ 120,773	$ 133,686

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Oct. 28, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false