| Operating Group Information | Operating Group Information: We identify our operating groups based on the way our management organizes the components of our business for the purposes of allocating resources and assessing performance. Our operating group structure reflects a brand-focused management approach, emphasizing operational coordination and resource allocation across each brand’s direct to consumer, wholesale and licensing operations, as applicable. Our business is organized as our Tommy Bahama, Lilly Pulitzer, Johnny Was and Emerging Brands operating groups. 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 and any other items that are not allocated to the operating groups, including LIFO inventory accounting adjustments. The accounting policies of the reportable operating segments are the same as those described in our Fiscal 2023 Form 10-K. The table below presents certain financial information (in thousands) about our operating groups, as well as Corporate and Other. Second Quarter First Half Fiscal 2024 Fiscal 2023 Fiscal 2024 Fiscal 2023 Net sales Tommy Bahama $ 245,079 $ 245,443 $ 470,696 $ 484,878 Lilly Pulitzer 91,689 91,349 180,110 188,799 Johnny Was 50,280 52,023 101,492 101,514 Emerging Brands 32,929 31,580 65,931 65,571 Corporate and Other (91) (76) (159) (346) Consolidated net sales $ 419,886 $ 420,319 $ 818,070 $ 840,416 Depreciation and amortization Tommy Bahama $ 7,004 $ 6,073 $ 14,197 $ 12,057 Lilly Pulitzer 4,724 3,979 9,318 7,371 Johnny Was 4,037 4,717 8,043 9,909 Emerging Brands 663 460 1,277 885 Corporate and Other 122 58 256 237 Consolidated depreciation and amortization $ 16,550 $ 15,287 $ 33,091 $ 30,459 Operating income (loss) Tommy Bahama $ 40,935 $ 51,037 $ 83,574 $ 106,558 Lilly Pulitzer 16,927 18,566 32,471 43,082 Johnny Was (1,656) 3,847 (1,323) 6,331 Emerging Brands 2,813 3,028 6,611 6,941 Corporate and Other (6,509) (8,804) (16,372) (14,937) Consolidated operating income $ 52,510 $ 67,674 $ 104,961 $ 147,975 Interest expense, net 89 1,297 963 3,639 Earnings before income taxes $ 52,421 $ 66,377 $ 103,998 $ 144,336 August 3, 2024 February 3, 2024 July 29, 2023 Assets Tommy Bahama (1) $ 586,068 $ 556,431 $ 548,893 Lilly Pulitzer (2) 198,507 194,871 201,310 Johnny Was (3) 244,361 251,429 330,503 Emerging Brands (4) 111,946 98,816 92,675 Corporate and Other (5) 31,640 (3,703) (23,523) Consolidated Total Assets $ 1,172,522 $ 1,097,844 $ 1,149,858 (1) Increase in Tommy Bahama total assets from July 29, 2023, relates primarily to an increase in operating lease assets and property and equipment partially offset by decreases in inventories. (2) Decrease in Lilly Pulitzer total assets from July 29, 2023, relates primarily to a decrease in inventories. (3) Decrease in Johnny Was total assets from July 29, 2023, relates primarily to the impairment charges for goodwill and intangible assets recorded in the Fourth Quarter of Fiscal 2023. (4) Increase in Emerging Brands total assets from July 29, 2023, includes increases in operating lease assets and property and equipment from the opening of new retail store locations. (5) Increase in Corporate and Other total assets from July 29, 2023, relates primarily due to the new distribution center project in Lyons, Georgia. 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. Second Quarter Fiscal 2024 Net Sales Retail E-commerce Food & Beverage Wholesale Other Tommy Bahama $ 245,079 45% 29% 12% 14% —% Lilly Pulitzer 91,689 39% 44% —% 17% —% Johnny Was 50,280 40% 45% —% 15% —% Emerging Brands 32,929 20% 53% —% 27% —% Corporate and Other (91) —% —% —% —% NM % Total $ 419,886 41% 36% 7% 16% —% Second Quarter Fiscal 2023 Net Sales Retail E-commerce Food & Beverage Wholesale Other Tommy Bahama $ 245,443 46% 28% 12% 14% —% Lilly Pulitzer 91,349 36% 50% —% 14% —% Johnny Was 52,023 38% 43% —% 19% —% Emerging Brands 31,580 12% 48% —% 40% —% Corporate and Other (76) —% —% —% —% NM % Total $ 420,319 41% 36% 7% 16% —% First Half Fiscal 2024 Net Sales Retail E-commerce Food & Beverage Wholesale Other Tommy Bahama $ 470,696 45% 25% 14% 16% —% Lilly Pulitzer 180,110 37% 45% —% 18% —% Johnny Was 101,492 39% 42% —% 19% —% Emerging Brands 65,931 17% 45% —% 38% —% Corporate and Other (159) —% —% —% —% NM % Total $ 818,070 40% 33% 8% 19% —% First Half Fiscal 2023 Net Sales Retail E-commerce Food & Beverage Wholesale Other Tommy Bahama $ 484,878 45% 24% 13% 18% —% Lilly Pulitzer 188,799 35% 49% —% 16% —% Johnny Was 101,514 37% 40% —% 23% —% Emerging Brands 65,571 10% 42% —% 48% —% Corporate and Other (346) —% —% —% —% NM % Total $ 840,416 39% 33% 7% 21% —% |
