v3.25.2
Operating Segments
 6 Months Ended
Aug. 02, 2025
Segment Reporting [Abstract]  
Operating Segments Operating Segments:
We identify our operating segments based on the way the chief operating decision maker ("CODM") organizes the components of our business for purposes of allocating resources and assessing performance. Our operating segment 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.
The Tommy Bahama, Lilly Pulitzer and Johnny Was operating segments are each identified as a reportable segment. The operations of our smaller, earlier stage operating segments Southern Tide, TBBC, Duck Head and Jack Rogers are aggregated into the Emerging Brands reportable segment.
Corporate and Other is a reconciling category for reporting purposes and includes the elimination of inter-segment sales, which totaled less than $1 million in both the First Half of Fiscal 2025 and the First Half of Fiscal 2024. Corporate and Other also includes our corporate offices, substantially all financing activities, any other items that are not allocated to
the operating segments, including LIFO inventory accounting adjustments as our LIFO pool does not correspond to our operating segment definitions, and unallocated Corporate expenses.
The table below presents certain financial information (in thousands) about our reportable segments, as well as Corporate and Other.
Second QuarterFirst Half
Fiscal 2025Fiscal 2024Fiscal 2025Fiscal 2024
Tommy Bahama
Net sales$229,003 $245,079 $445,178 $470,696 
Costs of goods sold90,052 94,385 166,502 171,694 
Gross profit$138,951 $150,694 $278,676 $299,002 
Operating costs:
Variable and distribution costs13,652 14,626 26,952 28,517 
Advertising costs10,199 11,330 20,346 19,469 
Employment costs47,278 46,217 94,565 93,707 
Occupancy costs23,508 22,289 46,286 43,924 
Depreciation and amortization7,644 7,004 15,221 14,197 
Other segment items (1)
9,998 8,293 17,887 15,614 
Tommy Bahama operating income$26,672 $40,935 $57,419 $83,574 
Lilly Pulitzer
Net sales$90,268 $91,689 $189,310 $180,110 
Costs of goods sold31,275 29,550 65,388 58,692 
Gross profit$58,993 $62,139 $123,922 $121,418 
Operating costs:
Variable and distribution costs5,606 5,313 11,654 10,198 
Advertising costs8,377 10,078 16,902 19,357 
Employment costs13,957 13,349 27,616 27,188 
Occupancy costs5,932 5,221 11,375 10,332 
Depreciation and amortization4,576 4,724 9,491 9,318 
Other segment items (1)
7,333 6,527 15,535 12,554 
Lilly Pulitzer operating income$13,212 $16,927 $31,349 $32,471 
Johnny Was
Net sales$45,415 $50,280 $88,888 $101,492 
Costs of goods sold17,275 16,851 32,630 34,814 
Gross profit$28,140 $33,429 $56,258 $66,678 
Operating costs:
Variable and distribution costs2,364 3,533 4,515 6,566 
Advertising costs6,499 7,381 12,033 13,735 
Employment costs10,023 9,850 20,284 19,404 
Occupancy costs5,127 5,549 10,516 10,894 
Depreciation and amortization3,188 4,037 6,569 8,043 
Other segment items (1)
5,407 4,735 10,219 9,359 
Johnny Was operating loss$(4,468)$(1,656)$(7,878)$(1,323)
Emerging Brands
Net sales$38,530 $32,929 $72,778 $65,931 
Costs of goods sold15,744 13,199 29,678 26,673 
Gross profit$22,786 $19,730 $43,100 $39,258 
Operating costs:
Variable and distribution costs2,925 2,535 5,372 4,893 
Advertising costs3,331 2,948 6,479 5,674 
Employment costs7,042 6,241 13,619 11,933 
Occupancy costs2,087 1,478 3,955 2,740 
Depreciation and amortization1,036 663 1,981 1,277 
Other segment items (1)
3,391 3,052 6,814 6,130 
Emerging Brands operating income$2,974 $2,813 $4,880 $6,611 
Corporate
Net sales$(73)$(91)$(150)$(159)
Cost of goods sold (2)
1,172 890 1,895 2,825 
Gross profit$(1,245)$(981)$(2,045)$(2,984)
Depreciation and amortization141 122 287 256 
Unallocated Corporate costs and income (3)
11,593 5,406 21,821 13,132 
Corporate operating loss$(12,979)$(6,509)$(24,153)$(16,372)
Consolidated Operating income$25,411 $52,510 $61,617 $104,961 
Interest expense, net1,548 89 3,274 963 
Earnings before income taxes$23,863 $52,421 $58,343 $103,998 
(1)For all reporting units, other segment items primarily consists of software costs, professional services costs, other selling, general, and administrative costs and royalties and other income.
(2)Cost of goods sold for Corporate and Other included a LIFO accounting charge of $1 million in the Second Quarter of Fiscal 2025 and the Second Quarter of Fiscal 2024 and a charge of $1 million in the First Half of Fiscal 2025 and $3 million in the First Half of Fiscal 2024.
(3)Unallocated Corporate costs for Corporate and Other primarily consists of unallocated employment and other overhead expenses.
The tables below present certain financial information (in thousands) about our reportable segments, as well as Corporate and Other.
First Half
Fiscal 2025Fiscal 2024
Purchases of Property and Equipment  
Tommy Bahama$18,350 $17,283 
Lilly Pulitzer4,456 4,045 
Johnny Was712 2,219 
Emerging Brands2,881 4,868 
Corporate and Other28,205 25,113 
Purchases of Property and Equipment$54,604 $53,528 
August 2, 2025February 1, 2025August 3, 2024
Assets
Tommy Bahama (1)
$676,133$681,730$586,068
Lilly Pulitzer (2)
205,203205,398198,507
Johnny Was (3)
222,600235,558244,361
Emerging Brands (4)
131,469121,574111,946
Corporate and Other (5)
88,991 45,545 31,640 
Consolidated Total Assets$1,324,396$1,289,805$1,172,522
(1)Increase in Tommy Bahama total assets from August 3, 2024, relates primarily to an increase in operating lease assets, inventories and property and equipment.
(2)Increase in Lilly Pulitzer total assets from August 3, 2024, includes increases in software related assets, intangible assets related to the acquisition of intellectual property rights in the Fourth Quarter of Fiscal 2024 and inventories.
(3)Decrease in Johnny Was total assets from August 3, 2024, relates primarily to the amortization of acquired intangible assets and a decrease in operating lease assets.
(4)Increase in Emerging Brands total assets from August 3, 2024, relates primarily to an increase in inventories and property and equipment.
(5)Increase in Corporate and Other total assets from August 3, 2024, relates primarily to an increase in property and equipment primarily related to the new distribution center project in Lyons, Georgia.
Net sales by geographic area are presented in the table below (in thousands). The other foreign amounts primarily relate to our Tommy Bahama operations in Canada and Australia.
Second QuarterFirst Half
Fiscal 2025Fiscal 2024Fiscal 2025Fiscal 2024
Net Sales
United States$394,183 $410,193 $779,342 $799,459 
Other foreign8,960 9,693 16,662 18,611 
$403,143 $419,886 $796,004 $818,070 
The tables below quantify net sales, for each reportable segment, as well as Corporate and Other, and in total (in thousands), and the percentage of net sales by distribution channel for each reportable segment, as well as Corporate and Other, 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 2025
Net SalesRetail E-commerce Food & Beverage Wholesale Other
Tommy Bahama$229,00345%29%13%13%—%
Lilly Pulitzer90,26837%48%—%15%—%
Johnny Was45,41538%46%—%16%—%
Emerging Brands38,53023%49%—%28%—%
Corporate and Other(73)—%—%—%—%NM %
Total$403,14341%37%7%15%—%
Second Quarter Fiscal 2024
Net SalesRetail E-commerce Food & Beverage Wholesale Other
Tommy Bahama$245,07945%29%12%14%—%
Lilly Pulitzer91,68939%44%—%17%—%
Johnny Was50,28040%45%—%15%—%
Emerging Brands32,92920%53%—%27%—%
Corporate and Other(91)—%—%—%—%NM %
Total$419,88641%36%7%16%—%
First Half Fiscal 2025
Net SalesRetailE-commerceFood & BeverageWholesaleOther
Tommy Bahama$445,17845%24%14%17%—%
Lilly Pulitzer189,31036%45%—%19%—%
Johnny Was88,88838%42%—%20%—%
Emerging Brands72,77821%44%—%35%—%
Corporate and Other(150)—%—%—%—%NM %
Total$796,00440%33%8%19%—%
First Half Fiscal 2024
Net SalesRetailE-commerceFood & BeverageWholesaleOther
Tommy Bahama$470,69645%25%14%16%—%
Lilly Pulitzer180,11037%45%—%18%—%
Johnny Was101,49239%42%—%19%—%
Emerging Brands65,93117%45%—%38%—%
Corporate and Other(159)—%—%—%—%NM %
Total$818,07040%33%8%19%—%