| Business Segment Information |
Note 6 Business Segment Information Following is a summary of certain key financial measures for the Company’s business segments for the periods ended May 3, 2025 and May 4, 2024: | | | | | | | | | | | | | | | Famous | | Brand | | Eliminations | | | | ($ thousands) | | Footwear | | Portfolio | | and Other | | Total | Net sales (1) | | $ | 327,676 | | | 295,395 | | | (8,850) | | $ | 614,221 | Cost of goods sold | | | 179,235 | | | 166,108 | | | (9,816) | | | 335,527 | Gross Profit | | $ | 148,441 | | | 129,287 | | | 966 | | $ | 278,694 | | | | | | | | | | | | | | Less expenses: | | | | | | | | | | | | | Retail stores (2) | | | 89,621 | | | 7,433 | | | — | | | 97,054 | Information technology | | | 7,810 | | | 7,644 | | | 1,398 | | | 16,852 | Warehousing and distribution | | | 14,000 | | | 16,160 | | | (3,080) | | | 27,080 | Advertising and marketing | | | 8,655 | | | 21,541 | | | 139 | | | 30,335 | Restructuring and other special charges, net | | | — | | | — | | | 627 | | | 627 | Other expenses (3) | | | 23,381 | | | 59,094 | | | 12,687 | | | 95,162 | Operating earnings (loss) | | $ | 4,974 | | $ | 17,415 | | $ | (10,805) | | $ | 11,584 | | | | | | | | | | | | | | Segment assets | | $ | 877,642 | | | 861,984 | | | 168,070 | | $ | 1,907,696 |
| | | | | | | | | | | | | | Thirteen Weeks Ended May 4, 2024 | | | Famous | | Brand | | Eliminations | | | | | | Footwear | | Portfolio | | and Other | | Total | Net sales (1) | | $ | 349,553 | | $ | 317,211 | | $ | (7,566) | | $ | 659,198 | Cost of goods sold | | | 188,548 | | | 169,399 | | | (7,844) | | | 350,103 | Gross Profit | | $ | 161,005 | | | 147,812 | | | 278 | | $ | 309,095 | | | | | | | | | | | | | | Less expenses: | | | | | | | | | | | | | Retail stores (2) | | | 87,542 | | | 7,477 | | | — | | | 95,019 | Information technology | | | 7,784 | | | 7,077 | | | 1,242 | | | 16,103 | Warehousing and distribution | | | 14,476 | | | 14,763 | | | (1,190) | | | 28,049 | Advertising and marketing | | | 10,248 | | | 24,032 | | | (791) | | | 33,489 | Restructuring and other special charges, net | | | — | | | — | | | — | | | — | Other expenses (3) | | | 24,100 | | | 53,038 | | | 16,539 | | | 93,677 | Operating earnings (loss) | | $ | 16,855 | | $ | 41,425 | | $ | (15,522) | | $ | 42,758 | | | | | | | | | | | | | | Segment assets | | $ | 868,729 | | | 827,645 | | | 164,736 | | $ | 1,861,110 |
| (1) | Net sales includes intersegment sales from Brand Portfolio to Famous Footwear of $8.9 million and $7.6 million for the thirteen weeks ended May 3, 2025 and May 4, 2024, respectively. |
| (2) | Includes compensation and facilities costs associated with the Company’s North America retail stores. |
| (3) | Primarily includes compensation costs associated with non-retail store operations, depreciation and amortization, and other overhead expenses. |
The Eliminations and Other category includes corporate assets, administrative expenses and other costs and recoveries, which are not allocated to the operating segments, as well as the elimination of intersegment sales and profit. Following is a reconciliation of operating earnings to earnings before income taxes: | | | | | | | | | Thirteen Weeks Ended | ($ thousands) | | May 3, 2025 | | May 4, 2024 | Operating earnings | | $ | 11,584 | | $ | 42,758 | Interest expense, net | | | (3,795) | | | (3,778) | Other income, net | | | 686 | | | 992 | Earnings before income taxes | | $ | 8,475 | | $ | 39,972 |
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