Document and Entity Information Document
|
6 Months Ended | |
---|---|---|
Aug. 04, 2013
|
Sep. 03, 2013
|
|
Document and Entity Information [Abstract] | ||
Entity Registrant Name | PVH CORP. /DE/ | |
Entity Central Index Key | 0000078239 | |
Current Fiscal Year End Date | --02-02 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Aug. 04, 2013 | |
Document Fiscal Year Focus | 2013 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 81,572,863 | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
Consolidated Income Statements (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Aug. 04, 2013
|
Jul. 29, 2012
|
Aug. 04, 2013
|
Jul. 29, 2012
|
|
Net sales | $ 1,884,439 | $ 1,219,620 | $ 3,707,484 | $ 2,532,469 |
Royalty revenue | 62,561 | 82,513 | 129,628 | 167,973 |
Advertising and other revenue | 17,847 | 34,490 | 37,895 | 63,587 |
Total revenue | 1,964,847 | 1,336,623 | 3,875,007 | 2,764,029 |
Cost of goods sold | 938,759 | 593,962 | 1,897,058 | 1,264,539 |
Gross profit | 1,026,088 | 742,661 | 1,977,949 | 1,499,490 |
Selling, general and administrative expenses | 953,468 | 589,333 | 1,860,476 | 1,192,004 |
Debt modification and extinguishment costs | 0 | 0 | 40,395 | 0 |
Equity in income (loss) of unconsolidated affiliates, net | 813 | (74) | 3,140 | 1,850 |
Income before interest and taxes | 73,433 | 153,254 | 80,218 | 309,336 |
Interest expense | 49,495 | 28,552 | 97,439 | 58,069 |
Interest income | 2,116 | 197 | 4,111 | 470 |
Income (loss) before taxes | 26,054 | 124,899 | (13,110) | 251,737 |
Income tax expense | 41,963 | 34,981 | 22,812 | 66,343 |
Net (loss) income | (15,909) | 89,918 | (35,922) | 185,394 |
Less: Net income attributable to redeemable non-controlling interest | 87 | 0 | 126 | 0 |
Net (loss) income attributable to PVH Corp. | $ (15,996) | $ 89,918 | $ (36,048) | $ 185,394 |
Basic net (loss) income per common share attributable to PVH Corp. | $ (0.20) | $ 1.24 | $ (0.45) | $ 2.57 |
Diluted net (loss) income per common share attributable to PVH Corp. | $ (0.20) | $ 1.22 | $ (0.45) | $ 2.52 |
Dividends declared per common share | $ 0.0375 | $ 0.0000 | $ 0.1125 | $ 0.0750 |
X | ||||||||||
- Definition
Includes (i) advertising revenue, which represents contributions made by licensees toward advertising based on contractual obligations, and (ii) revenues from the sale of other goods or rendering of other services, not elsewhere specified in the taxonomy; net of (reduced by) sales adjustments, returns, allowances, and discounts. No definition available.
|
X | ||||||||||
- Definition
Amount represents 1) costs incurred in the modification of term of existing debt agreement, including a loss to write-off previously capitalized debt issuance costs, or 2) the difference between the fair value of payments made and the carrying amount of the debt at time of extinguishment. No definition available.
|
X | ||||||||||
- Definition
Sum of operating profit and nonoperating income (expense) before interest expense, interest income, income taxes, extraordinary itmes, cumulative items, cumulative effects of change in accounting principles and noncontrolling interest. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Consolidated Statements of Comprehensive Income (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Aug. 04, 2013
|
Jul. 29, 2012
|
Aug. 04, 2013
|
Jul. 29, 2012
|
|
Net (loss) income | $ (15,909) | $ 89,918 | $ (35,922) | $ 185,394 |
Foreign currency translation adjustments, net of tax | (45,713) | (150,188) | (150,770) | (133,187) |
Amortization of prior service credit related to pension and postretirement plans, net of tax | (135) | (135) | (271) | (271) |
Net unrealized and realized gain on effective hedges, net of tax | 1,656 | 6,346 | 9,514 | 2,099 |
Comprehensive (loss) income | (60,101) | (54,059) | (177,449) | 54,035 |
Less: Comprehensive loss attributable to redeemable non-controlling interest | (1,771) | 0 | (1,625) | 0 |
Total comprehensive (loss) income attributable to PVH Corp. | $ (58,330) | $ (54,059) | $ (175,824) | $ 54,035 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Consolidated Statements of Comprehensive Income (Parenthetical) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Aug. 04, 2013
|
Jul. 29, 2012
|
Aug. 04, 2013
|
Jul. 29, 2012
|
|
Foreign currency translation adjustments, tax expense (benefit) | $ 107 | $ (690) | $ (330) | $ (453) |
Amortization of prior service credit related to pension and postretirement plans, tax (benefit) | (84) | (84) | (168) | (168) |
Net unrealized and realized gain on effective hedges, tax expense (benefit) | $ 482 | $ (625) | $ (754) | $ 364 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
The total liquidation preference (or restrictions) of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) that has a preference in involuntary liquidation considerably in excess of the par or stated value of the shares. The liquidation preference is the difference between the preference in liquidation and the par or stated values of the share. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
Amount represents 1) costs incurred in the modification of term of existing debt agreement, including a loss to write-off previously capitalized debt issuance costs, or 2) the difference between the fair value of payments made and the carrying amount of the debt at time of extinguishment. No definition available.
|
X | ||||||||||
- Definition
The net change during the reporting period in the aggregate amount of obligations and expenses incurred but not paid; and the net change during the reporting period, excluding the portion taken into income, in the liability reflecting services yet to be performed by the reporting entity for which cash or other forms of consideration was received or recorded as a receivable. No definition available.
|
X | ||||||||||
- Definition
The cash outflow related to the current outstanding credit facilities. No definition available.
|
X | ||||||||||
- Definition
The cash outflow related to the Company's previously outstanding credit facility. No definition available.
|
X | ||||||||||
- Definition
The cash outflow for Warnaco’s previously outstanding debt. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
GENERAL
|
6 Months Ended |
---|---|
Aug. 04, 2013
|
|
Notes to Financial Statements [Abstract] | |
GENERAL | GENERAL PVH Corp. and its consolidated subsidiaries (collectively, the “Company”) constitute a global apparel company whose brand portfolio consists of nationally and internationally recognized brand names, including Calvin Klein, Tommy Hilfiger, Van Heusen, IZOD, ARROW, Bass, Warner’s and Olga, which are owned, and Speedo, which is licensed, as well as various other owned, licensed and private label brands. The Company designs and markets branded dress shirts, neckwear, sportswear, swim products, intimates and, to a lesser extent, footwear and other related products and licenses its owned brands over a broad range of products. References to the aforementioned and other brand names are to registered trademarks owned by the Company or licensed to the Company by third parties and are identified by italicizing the brand name. The consolidated financial statements include the accounts of the Company. Intercompany accounts and transactions have been eliminated in consolidation. Investments in entities that the Company does not control but has the ability to exercise significant influence over are accounted for using the equity method of accounting. Please see Note 4, “Investments in Unconsolidated Affiliates,” for a further discussion. The Company’s Consolidated Income Statements include its proportionate share of the net income or loss of these entities. As a result of the acquisition of The Warnaco Group, Inc. (“Warnaco”), the Company owns a majority interest in a joint venture in India that is consolidated and accounted for as a redeemable non-controlling interest. Please see Note 5, “Redeemable Non-Controlling Interest,” for a further discussion. The redeemable non-controlling interest represents the minority shareholders’ proportionate share (49%) of the equity in the Company’s consolidated subsidiary. The Company’s fiscal years are based on the 52-53 week period ending on the Sunday closest to February 1 and are designated by the calendar year in which the fiscal year commences. References to a year are to the Company’s fiscal year, unless the context requires otherwise. The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information. Accordingly, they do not contain all disclosures required by accounting principles generally accepted in the United States for complete financial statements. Reference should be made to the audited consolidated financial statements, including the notes thereto, included in the Company’s Annual Report on Form 10-K for the year ended February 3, 2013. The preparation of interim financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ materially from the estimates. The results of operations for the thirteen and twenty-six weeks ended August 4, 2013 and July 29, 2012 are not necessarily indicative of those for a full fiscal year due, in part, to seasonal factors. The data contained in these financial statements are unaudited and are subject to year-end adjustments. However, in the opinion of management, all known adjustments (which consist only of normal recurring accruals) have been made to present fairly the consolidated operating results for the unaudited periods. Certain reclassifications have been made to the consolidated financial statements and the notes thereto for the prior year periods to present that information on a basis consistent with the current year. Please see Note 6, “Goodwill and Other Intangible Assets,” Note 7, “Retirement and Benefit Plans,” and Note 18, “Segment Data,” for discussions of changes in accounting and/or reporting related to these areas. |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
INVENTORIES
|
6 Months Ended |
---|---|
Aug. 04, 2013
|
|
Notes to Financial Statements [Abstract] | |
INVENTORIES | INVENTORIES Inventories are comprised principally of finished goods and are stated at the lower of cost or market. |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
ACQUISITIONS
|
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 04, 2013
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes to Financial Statements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ACQUISITIONS | ACQUISITIONS Acquisition of Warnaco The Company acquired on February 13, 2013 all of the outstanding equity interests in Warnaco. The results of Warnaco’s operations since that date have been included in the Company’s consolidated financial statements. Warnaco designs, sources, markets and distributes a broad line of intimate apparel, sportswear and swim products worldwide. Warnaco’s products are sold under the Calvin Klein, Speedo, Warner’s and Olga brand names and were also previously sold under the Chaps brand name. Ralph Lauren Corporation reacquired the Chaps license effective contemporaneously with the Company’s acquisition of Warnaco. The Warnaco acquisition provided the Company with direct global control of the Calvin Klein brand image and commercial decisions for the two largest Calvin Klein apparel categories—jeanswear and underwear. In addition, the Company believes the acquisition takes advantage of its and Warnaco’s complementary geographic platforms. Warnaco’s operations in Asia and Latin America should enhance the Company’s opportunities in those high-growth regions, and the Company will have the ability to leverage its expertise and infrastructure in North America and Europe to enhance the growth and profitability of the Calvin Klein jeanswear and underwear businesses in those regions. Fair Value of the Acquisition Consideration The acquisition date fair value of the acquisition consideration paid at closing totaled $3,137,056, which consisted of the following:
The fair value of the 7,674 common shares issued was equal to the aggregate value of the shares at the closing market price of the Company’s common stock on February 12, 2013, the day prior to the closing. The value of the replacement stock awards was determined by multiplying the estimated fair value of the Warnaco awards outstanding at the time of the acquisition, reduced by an estimated value of awards to be forfeited, by the proportionate amount of the vesting period that had lapsed as of the acquisition date. Also included in the acquisition consideration was the elimination of a $9,128 pre-acquisition liability to Warnaco. The Company funded the cash portion and related costs of the Warnaco acquisition, repaid all outstanding borrowings under its previously outstanding senior secured credit facilities and repaid all of Warnaco’s previously outstanding long-term debt with the net proceeds of (i) the issuance of $700,000 of 4 1/2% senior notes due 2022; and (ii) the borrowing of $3,075,000 of term loans under new senior secured credit facilities. Please see Note 6, “Goodwill and Other Intangible Assets,” Note 8, “Debt,” Note 12, “Stock-Based Compensation,” and Note 14, “Stockholders’ Equity,” for a further discussion of these aspects of the acquisition. The Company incurred certain pre-tax costs directly associated with the acquisition, including short-lived non-cash valuation adjustments and amortization, totaling approximately $185,000, of which approximately $43,000 was recorded in fiscal 2012 and approximately $142,000 was recorded during the twenty-six weeks ended August 4, 2013. Please see Note 15, “Activity Exit Costs,” for a discussion of restructuring costs incurred during the twenty-six weeks ended August 4, 2013 associated with the acquisition. The operations acquired with Warnaco had total revenue of $1,027,878 and a net loss, after non-cash valuation adjustments and amortization and integration costs, of $(62,727) for the period from the date of acquisition through August 4, 2013. These amounts are included in the Company’s results of operations for the twenty-six week period then ended. Pro Forma Impact of the Transaction The following table presents the Company’s pro forma consolidated results of operations for the thirteen and twenty-six weeks ended August 4, 2013 and July 29, 2012, as if the acquisition and the related financing transactions had occurred on January 30, 2012 (the first day of its fiscal year ended February 3, 2013) instead of on February 13, 2013. The pro forma results were calculated applying the Company’s accounting policies and reflect (i) the impact on revenue, cost of goods sold and selling, general and administrative expenses resulting from the elimination of intercompany transactions; (ii) the impact on depreciation and amortization expense based on fair value adjustments to Warnaco’s property, plant and equipment and intangible assets recorded in connection with the acquisition; (iii) the impact on interest expense resulting from changes to the Company’s capital structure in connection with the acquisition; (iv) the impact on cost of goods sold resulting from acquisition date adjustments to the fair value of inventory; (v) the elimination of transaction costs related to the acquisition that were included in the Company’s results of operations for the thirteen and twenty-six weeks ended August 4, 2013; and (vi) the tax effects of the above adjustments. The pro forma results do not include any anticipated cost synergies or other effects of the planned integration of Warnaco. Accordingly, such pro forma amounts are not indicative of the results that actually would have occurred had the acquisition been completed on January 30, 2012, nor are they indicative of the future operating results of the combined company.
Allocation of the Acquisition Consideration The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition:
The Company is still in the process of valuing the assets acquired and liabilities assumed; thus, the allocation of the acquisition consideration is subject to change. In connection with the acquisition, the Company recorded goodwill of $1,451,479, which was assigned to the Company’s Calvin Klein North America, Calvin Klein International and Heritage Brands Wholesale segments in the amounts of $443,419, $878,786 and $129,274, respectively. None of the goodwill is expected to be deductible for tax purposes. The Company also recorded other intangible assets of $1,636,300, which included reacquired license rights of $578,000, order backlog of $97,000 and customer relationships of $149,800, which are all amortizable, as well as tradenames of $604,600 and perpetual license rights of $206,900, which have indefinite lives. |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
INVESTMENTS IN UNCONSOLIDATED AFFILIATES
|
6 Months Ended |
---|---|
Aug. 04, 2013
|
|
Equity Method Investments and Joint Ventures [Abstract] | |
INVESTMENTS IN UNCONSOLIDATED AFFILIATES | INVESTMENTS IN UNCONSOLIDATED AFFILIATES Brazil In 2012, the Company formed a joint venture, Tommy Hilfiger do Brasil S.A., in Brazil, in which the Company owns a 40% economic interest. The joint venture holds an exclusive license for the Tommy Hilfiger brand in Brazil that became effective on January 4, 2013. This investment is being accounted for under the equity method of accounting. China In 2011, the Company formed a joint venture, TH Asia Ltd., in China, in which the Company owns a 45% economic interest. The joint venture assumed direct control of the Tommy Hilfiger wholesale and retail distribution businesses in China from the prior licensee on August 1, 2011. This investment is being accounted for under the equity method of accounting. India In 2011, the Company completed an acquisition of a 50% economic interest in a company that has since been renamed Tommy Hilfiger Arvind Fashion Private Limited (“TH India”). TH India is the direct licensee of the Tommy Hilfiger trademarks in India for all categories (other than fragrance), operates a wholesale apparel, footwear and handbags business in connection with its license, and sublicenses the trademarks for certain other product categories. This investment is being accounted for under the equity method of accounting. Included in other assets in the Company’s Consolidated Balance Sheets as of August 4, 2013, February 3, 2013 and July 29, 2012 is $62,822, $62,021 and $46,880, respectively, related to these investments in unconsolidated affiliates. |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
REDEEMABLE NON-CONTROLLING INTEREST
|
6 Months Ended |
---|---|
Aug. 04, 2013
|
|
Redeemable Non-Controlling Interest Disclosure [Abstract] | |
REDEEMABLE NON-CONTROLLING INTEREST | REDEEMABLE NON-CONTROLLING INTEREST As a result of the acquisition of Warnaco, the Company owns a 51% interest in a joint venture in India, Premium Garments Wholesale Trading Private Limited (“CK India”), that is consolidated in the Company’s financial statements. The Shareholders Agreement entered into by the parties to the joint venture (the “Shareholders Agreement”) contains a put option under which the non-controlling shareholders can require the Company to purchase all or a portion of their shares in the joint venture (i) at any date with respect to one of the non-controlling shareholders, who holds a 24% ownership, and (ii) after July 8, 2015, or at any date if the Company commits a material breach, as defined in the Shareholders Agreement, that is not cured, or becomes insolvent, with respect to the other non-controlling shareholder, who holds a 25% ownership. The put price is the fair market value of the shares on the redemption date based upon a multiple of the joint venture’s earnings before interest, taxes, depreciation and amortization for the prior 12 months, less the joint venture’s net debt and any amounts owed to the Company by the non-controlling shareholders. The Shareholders Agreement also contains a call option, under which the Company can require any of the non-controlling shareholders to sell their shares to the Company (i) at any date in the event that any non-controlling shareholder commits a material breach, as defined in the Shareholders Agreement, under any of the agreements related to the joint venture, that is not cured; or (ii) at any date after July 8, 2015. The call price is determined by the same method as the put price (as described above). During the quarter ended August 4, 2013, the Company gave notice to the non-controlling shareholders that it was exercising the call option due to a continuing material breach by the non-controlling shareholders. The sale of the non-controlling interests has not yet been consummated. The fair value of the non-controlling interest as of the date of the Warnaco acquisition was estimated to be $5,600, which is subject to change pending the finalization of the valuation of the acquisition consideration allocation. Subsequent changes in the fair value of the redeemable non-controlling interest are recognized immediately as they occur, since a portion of the non-controlling interest is currently redeemable and it is probable that the other portion will become redeemable in the future based on the passage of time. The carrying amount of the redeemable non-controlling interest is adjusted to equal the fair value at the end of each reporting period, provided that this amount at the end of each reporting period cannot be lower than the initial fair value. Any fair value adjustment to the carrying amount is determined after attribution of net income and other comprehensive income of the non-controlling interest. After initial measurement, the attribution of any net losses of the non-controlling interest cannot exceed the amount of any increase in fair value above the initial fair value. Any fair value adjustment to the carrying amount of the redeemable non-controlling interest will be recognized immediately in retained earnings of the Company. After adjusting the carrying amount for net income and other comprehensive income during the twenty-six weeks ended August 4, 2013, an adjustment to retained earnings of $1,625 was necessary to increase the fair value of the redeemable non-controlling interest, as of August 4, 2013, to the initial fair value of $5,600. |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
GOODWILL AND OTHER INTANGIBLE ASSETS
|
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 04, 2013
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes to Financial Statements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
GOODWILL AND OTHER INTANGIBLE ASSETS | GOODWILL AND OTHER INTANGIBLE ASSETS The acquisition of Warnaco has significantly impacted the way the Company and its chief operating decision maker manage and analyze the Company’s operating results. As such, the Company has changed its reportable segments. Please see Note 18, “Segment Data,” for a further discussion. This change in segments resulted in a reallocation of goodwill amongst some of the Company’s reportable segments. Prior period data has been retrospectively adjusted to reflect this reallocation. The changes in the carrying amount of goodwill for the twenty-six weeks ended August 4, 2013, by segment, were as follows:
The Company is required to make contingent purchase price payments to Mr. Calvin Klein in connection with the Company’s acquisition in 2003 of all of the issued and outstanding stock of Calvin Klein, Inc. and certain affiliated companies (collectively, “Calvin Klein”). Such payments are based on 1.15% of total worldwide net sales, as defined in the acquisition agreement (as amended), of products bearing any of the Calvin Klein brands and are required to be made with respect to sales made through February 12, 2018. A significant portion of the sales on which the payments to Mr. Klein are made are wholesale sales by the Company and its licensees and other partners to retailers. The Company’s intangible assets consisted of the following:
(1) Change from February 3, 2013 to August 4, 2013 primarily relates to intangible assets recorded in connection with the acquisition of Warnaco. The acquired customer relationships are amortized principally over 10 years, order backlog is amortized principally over 6 months and reacquired license rights are amortized principally over 33 years from the date of the acquisition. As of August 4, 2013, the weighted average life of the amortizable intangible assets recorded in connection with the acquisition of Warnaco was 27.7 years. Amortization expense related to the Company’s amortizable intangible assets was $112,738 and $6,454 for the twenty-six weeks ended August 4, 2013 and July 29, 2012, respectively. Amortization expense, a portion of which is subject to exchange rate fluctuation, for the remainder of 2013 and the next five years thereafter related to the Company’s intangible assets as of August 4, 2013 is expected to be as follows:
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
RETIREMENT AND BENEFIT PLANS
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 04, 2013
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes to Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RETIREMENT AND BENEFIT PLANS | RETIREMENT AND BENEFIT PLANS The Company has six noncontributory defined benefit pension plans (including a plan acquired as part of the Warnaco acquisition, which is frozen) covering substantially all employees resident in the United States who meet certain age and service requirements. For those vested (after five years of service), the plans provide monthly benefits upon retirement based on career compensation and years of credited service. The Company refers to these six plans as its “Pension Plans.” The Company also has for certain members of Tommy Hilfiger’s domestic senior management a supplemental executive retirement plan, which is an unfunded non-qualified supplemental defined benefit pension plan. Such plan is frozen and, as a result, participants do not accrue additional benefits. In addition, the Company has a capital accumulation program, which is an unfunded non-qualified supplemental defined benefit plan, covering two current and 15 retired executives as of August 4, 2013. Under the individual participants’ agreements, the participants in this plan will receive a predetermined amount during the 10 years following the attainment of age 65, provided that prior to the termination of employment with the Company, the participant has been in the plan for at least 10 years and has attained age 55. The Company also has for certain employees resident in the United States who meet certain age and service requirements an unfunded non-qualified supplemental defined benefit pension plan, which provides benefits for compensation in excess of Internal Revenue Service earnings limits and requires payments to vested employees upon, or shortly after, employment termination or retirement. The Company refers to these three plans as its “SERP Plans.” The Company also provides certain postretirement health care and life insurance benefits to certain retirees resident in the United States. Retirees contribute to the cost of this plan, which is unfunded. During 2002, the postretirement plan was amended to eliminate the Company contribution, which partially subsidized benefits, for active participants who, as of January 1, 2003, had not attained age 55 and 10 years of service. As a result of the Company’s acquisition of Warnaco, the Company also provides certain postretirement health care and life insurance benefits to certain Warnaco retirees resident in the United States. Retirees contribute to the cost of this plan, which is unfunded. The Company refers to these two plans as its “Postretirement Plans.” During the fourth quarter of 2012, the Company changed its method of accounting for actuarial gains and losses for its pension and other postretirement plans. Historically, the Company recognized actuarial gains and losses for its pension and other postretirement obligations and pension plan assets as a component of other comprehensive income in the periods in which they arose. As set forth in the Financial Accounting Standards Board (“FASB”) guidance for pension and other postretirement plans, the Company amortized actuarial gains and losses (to the extent they exceeded a 10% corridor) in future periods over the average remaining service period of active employees or, if substantially all plan participants were inactive, over the average remaining life expectancy of inactive participants, as a component of its net periodic benefit cost. The Company elected in the fourth quarter of 2012 to begin to immediately recognize actuarial gains and losses in its operating results in the year in which they occur. These gains and losses are measured at least annually as of the end of the Company’s fiscal year and, as such, will generally be recognized during the fourth quarter of each year. Additionally, beginning in the fourth quarter of 2012, the Company no longer calculates expected return on plan assets using a permitted averaging technique for market-related value of plan assets but instead uses the fair value of plan assets. The financial data for all prior periods presented has been retrospectively adjusted to reflect the effect of these accounting changes. Net benefit cost related to the Company’s Pension Plans was recognized in selling, general and administrative expenses as follows:
Net benefit cost related to the Company’s SERP Plans was recognized in selling, general and administrative expenses as follows:
Net benefit cost related to the Company’s Postretirement Plans was recognized in selling, general and administrative expenses as follows:
Currently, the Company expects to make contributions of approximately $60,000 to its pension plans in 2013, which includes a $30,000 contribution made during the first quarter of 2013 to fund the pension plan that the Company acquired with the Warnaco acquisition. The Company’s actual contributions may differ from planned contributions due to many factors, including changes in tax and other benefit laws, or significant differences between expected and actual pension asset performance or interest rates. |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
DEBT
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 04, 2013
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DEBT | DEBT Short-Term Borrowings One of the Company’s Asian subsidiaries has a Yen-denominated overdraft facility with a Japanese bank, which provides for borrowings of up to ¥1,000,000 (approximately $10,000 based on exchange rates in effect on August 4, 2013) and is utilized to fund working capital needs. Borrowings under the facility are unsecured and bear interest at the one-month Japanese interbank borrowing rate (“TIBOR”) plus 0.15%. Such facility renews automatically unless the Company gives notice of termination. There were no borrowings outstanding under this facility as of August 4, 2013. The maximum amount of borrowings outstanding under this facility during the twenty-six weeks ended August 4, 2013 was approximately $10,000. One of the Company’s European subsidiaries acquired as part of the Warnaco acquisition has short-term revolving notes with a number of banks at various interest rates, as well as a Euro-denominated overdraft facility, which are used to fund working capital needs. The total amount of borrowings outstanding as of August 4, 2013 was $2,147. The weighted average interest rate on the funds borrowed at August 4, 2013 was 2.94%. The maximum amount of borrowings outstanding under these facilities during the twenty-six weeks ended August 4, 2013 was approximately $25,300. One of the Company’s Asian subsidiaries acquired as part of the Warnaco acquisition has Rupee-denominated short-term revolving credit facilities with a local lender. These facilities provide for total borrowings of up to ₨195,000 (approximately $3,200 based on exchange rates in effect on August 4, 2013) and are utilized to fund working capital needs. Borrowings under the facilities bear interest at various interest rates, primarily based on a base rate set by the lending bank. As of August 4, 2013, the Company had $1,300 of borrowings outstanding under these facilities and the weighted average interest rate on the funds borrowed at August 4, 2013 was 10.44%. The maximum amount of borrowings outstanding under these facilities during the twenty-six weeks ended August 4, 2013 was approximately $2,600. One of the Company’s Asian subsidiaries acquired as part of the Warnaco acquisition has a short-term $10,000 revolving credit facility to be used to fund working capital needs. Borrowings under the facility bear interest at 1.75% plus the one-month London interbank borrowing rate (“LIBOR”). At the end of each month, amounts outstanding under this facility may be carried forward for additional one-month periods for up to one year. The facility was renewed in September 2012 and may be renewed annually in the future. The facility is subject to certain terms and conditions and may be terminated at any time at the discretion of the lender. There were no borrowings outstanding under this facility as of or during the twenty-six weeks ended August 4, 2013. One of the Company’s Asian subsidiaries acquired as part of the Warnaco acquisition has a Won-denominated short-term revolving credit facility with one lender that provides for borrowings of up to ₩3,000,000 (approximately $2,700 based on exchange rates in effect on August 4, 2013) and is utilized to fund working capital needs. Borrowings under the facility bear interest at the three-month Cost of Funds Index rate plus a specified margin. There were no borrowings outstanding under this facility as of or during the twenty-six weeks ended August 4, 2013. One of the Company’s Latin American subsidiaries acquired as part of the Warnaco acquisition has Real-denominated short-term revolving credit facilities with a number of banks that provide for total available borrowings of R$44,000 (approximately $19,000 based on exchange rates in effect on August 4, 2013) and are utilized to fund working capital needs. Borrowings under the facilities bear interest at various interest rates. There were no borrowings outstanding under these facilities as of or during the twenty-six weeks ended August 4, 2013. Long-Term Debt The carrying amounts of the Company’s long-term debt were as follows:
As of August 4, 2013, the Company’s mandatory long-term debt repayments for the next five years were as follows:
As of August 4, 2013, after taking into account the interest rate swap agreement discussed in the section entitled “New Senior Secured Credit Facilities”below, which was in effect as of such date, approximately 45% of the Company’s long-term debt was at a fixed rate, with the remainder at variable rates. As a result of the new interest rate swap agreement for a three-year term commencing on August 19, 2013, as discussed below, approximately 70% of the Company’s long-term debt will be at a fixed rate, with the remainder at variable rates. Prior Senior Secured Credit Facilities On May 6, 2010, the Company entered into senior secured credit facilities, which it amended and restated on March 2, 2011 (“the amended facilities”). The amended facilities consisted of a Euro-denominated term loan A facility, a United States dollar-denominated term loan A facility, a Euro-denominated term loan B facility, a United States dollar-denominated term loan B facility, a United States dollar-denominated revolving credit facility and two multi-currency (one United States dollar and Canadian dollar, and the other Euro, Japanese Yen and British Pound) revolving credit facilities. The amended facilities provided for initial borrowings of up to an aggregate of approximately $1,970,000 (based on applicable exchange rates on March 2, 2011), consisting of (i) an aggregate of approximately $1,520,000 of term loan facilities; and (ii) approximately $450,000 of revolving credit facilities. The Company made payments of $89,680 on its term loans under the amended facilities during the twenty-six weeks ended July 29, 2012. On February 13, 2013, in connection with the Warnaco acquisition, the Company modified and extinguished the amended facilities and repaid all outstanding borrowings thereunder, as discussed in the section entitled “New Senior Secured Credit Facilities” below. New Senior Secured Credit Facilities On February 13, 2013, simultaneously with and related to the closing of the Warnaco acquisition, the Company entered into new senior secured credit facilities (“the new facilities”), the proceeds of which were used to fund a portion of the acquisition, repay all outstanding borrowings under the amended facilities and repay all of Warnaco’s previously outstanding long-term debt. The new facilities consist of a $1,700,000 United States dollar-denominated Term Loan A (recorded net of an original issue discount of $7,325 as of the acquisition date), a $1,375,000 United States dollar-denominated Term Loan B (recorded net of an original issue discount of $6,875 as of the acquisition date) and senior secured revolving credit facilities in an aggregate principal amount of $750,000 (based on the applicable exchange rates on February 13, 2013), consisting of (a) a $475,000 United States dollar-denominated revolving credit facility, (b) a $25,000 United States dollar-denominated revolving credit facility available in United States dollars or Canadian dollars and (c) a €185,850 Euro-denominated revolving credit facility available in Euro, Pounds Sterling, Japanese Yen and Swiss Francs. In connection with entering into the new facilities and repaying all outstanding borrowings under the amended facilities and all of Warnaco’s previously outstanding long-term debt, the Company paid debt issuance costs of $67,370 (of which $34,638 was expensed as debt modification and extinguishment costs and $32,732 will be amortized over the term of the related debt agreement) and recorded additional debt modification and extinguishment costs of $5,757 to write-off previously capitalized debt issuance costs. The revolving credit facilities include amounts available for letters of credit. As of August 4, 2013, the Company had drawn no revolving credit borrowings and approximately $79,105 of letters of credit. A portion of both United States dollar-denominated revolving credit facilities is also available for the making of swingline loans. The issuance of such letters of credit and the making of any swingline loan reduces the amount available under the applicable revolving credit facility. So long as certain conditions are satisfied, the Company may add one or more term loan facilities or increase the commitments under the revolving credit facilities by an aggregate amount not to exceed the greater of (a) $750,000 and (b) $1,250,000 as long as the ratio of the Company’s senior secured net debt to consolidated adjusted earnings before interest, taxes, depreciation and amortization (in each case calculated as set forth in the documentation relating to the new facilities) would not exceed 3 to 1 after giving pro forma effect to the incurrence of such increase, plus, in either case, an amount equal to the aggregate revolving commitments of any defaulting lender (to the extent the commitments with respect thereto have been terminated). The lenders under the new facilities are not required to provide commitments with respect to such additional facilities or increased commitments. The Company made payments of $181,688 on its term loans under the new facilities during the twenty-six weeks ended August 4, 2013, the majority of which was voluntary. As of August 4, 2013, the Company had total term loans outstanding of $2,880,499, net of original issue discounts. The terms of each of Term Loan A and Term Loan B contain a mandatory quarterly repayment schedule. Due to the above-mentioned voluntary payments, the Company is not required to make any additional mandatory repayments under Term Loan B prior to maturity. The outstanding borrowings under the new facilities are prepayable at any time without penalty. The terms of the new facilities require the Company to repay certain amounts outstanding thereunder with (a) net cash proceeds of the incurrence of certain indebtedness, (b) net cash proceeds of certain asset sales or other dispositions (including as a result of casualty or condemnation) that exceed certain thresholds, to the extent such proceeds are not reinvested or committed to be reinvested in the business in accordance with customary reinvestment provisions and (c) a percentage of excess cash flow, which percentage is based upon the Company’s net leverage ratio during the relevant fiscal period. The United States dollar-denominated borrowings under the new facilities bear interest at a rate equal to an applicable margin plus, as determined at the Company’s option, either (a) a base rate determined by reference to the greater of (i) the prime rate, (ii) the United States federal funds rate plus 1/2 of 1.00% and (iii) a one-month adjusted Eurocurrency rate plus 1.00% (provided that, in the case of Term Loan B, in no event will the base rate be deemed to be less than 1.75%) or (b) an adjusted Eurocurrency rate, calculated in a manner set forth in the new facilities (provided that, in the case of Term Loan B, in no event will the adjusted Eurocurrency rate be deemed to be less than 0.75%). Canadian dollar-denominated borrowings under the new revolving credit facilities bear interest at a rate equal to an applicable margin plus, as determined at the Company’s option, either (a) a Canadian prime rate determined by reference to the greater of (i) the rate of interest per annum that Royal Bank of Canada establishes at its main office in Toronto, Ontario as the reference rate of interest in order to determine interest rates for loans in Canadian Dollars to its Canadian borrowers and (ii) the sum of (x) the average of the rates per annum for Canadian Dollar bankers’ acceptances having a term of one month that appears on the display referred to as “CDOR Page” of Reuters Monitor Money Rate Services as of 10:00 a.m. (Toronto time) on the date of determination, as reported by the administrative agent (and if such screen is not available, any successor or similar service as may be selected by the administrative agent), and (y) 0.75%, or (b) an adjusted Eurocurrency rate, calculated in a manner set forth in the new facilities. The borrowings under the new revolving credit facilities in currencies other than United States dollars or Canadian dollars bear interest at a rate equal to an applicable margin plus an adjusted Eurocurrency rate, calculated in a manner set forth in the new facilities. The current applicable margins are in the case of Term Loan A and the revolving credit facilities, 2.00% for adjusted Eurocurrency rate loans and 1.00% for base rate loans, as applicable. The applicable margins in the case of Term Loan B are fixed at 2.50% for adjusted Eurocurrency rate loans and 1.50% for base rate loans, respectively. After the date of delivery of the compliance certificate and financial statements with respect to the Company’s fiscal quarter ending August 4, 2013, the applicable margin for borrowings under Term Loan A and the revolving credit facilities is subject to adjustment based on the Company’s quarter end net leverage ratio. During the second quarter of 2013, the Company entered into an interest rate swap agreement for a three-year term commencing on August 19, 2013. The agreement was designed with the intended effect of converting an initial notional amount of $1,228,750 of the Company’s variable rate debt obligation under its United States dollar-denominated senior secured Term Loan A facility, or any replacement facility with similar terms, to fixed rate debt. Under the terms of the agreement for the then-outstanding notional amount, the Company’s exposure to fluctuations in the one-month LIBOR is eliminated, and it will pay a fixed rate of 0.604%, plus the current applicable margin. During the second quarter of 2011, the Company entered into an interest rate swap agreement for a three-year term commencing on June 6, 2011. The agreement was designed with the intended effect of converting an initial notional amount of $632,000 of the Company’s variable rate debt obligation under its previously outstanding United States dollar-denominated senior secured term loan A facility, or any replacement facility with similar terms, to fixed rate debt. Such agreement remains outstanding, with a notional amount of $436,608 as of August 4, 2013, subsequent to the repayment of the Company’s previously outstanding amended facility and is now converting a portion of the Company’s variable rate debt obligation under its new Term Loan A facility to fixed rate debt. Under the terms of the agreement for the then-outstanding notional amount, the Company’s exposure to fluctuations in the three-month LIBOR is eliminated, and it will pay a fixed rate of 1.197%, plus the current applicable margin. The outstanding notional amount of each interest rate swap will be adjusted according to pre-set schedules during the term of each swap agreement such that, based on the Company’s projections for future debt repayments, the Company’s outstanding debt under the Term Loan A facility is expected to always equal or exceed the then-outstanding combined notional amount of the interest rate swaps. The new facilities contain covenants that restrict the Company’s ability to finance future operations or capital needs, to take advantage of other business opportunities that may be in its interest or to satisfy its obligations under its other outstanding debt. These covenants restrict the Company’s ability to, among other things:
The new facilities require the Company to comply with certain financial covenants, including minimum interest coverage and maximum net leverage. A breach of any of these operating or financial covenants would result in a default under the applicable facility. If an event of default occurs and is continuing, the lenders could elect to declare all amounts then outstanding, together with accrued interest, to be immediately due and payable which would result in acceleration of the Company’s other debt. If the Company was unable to repay any such borrowings when due, the lenders could proceed against their collateral, which also secures some of the Company’s other indebtedness. 4 1/2% Senior Notes Due 2022 On December 20, 2012, the Company issued $700,000 principal amount of 4 1/2% senior notes due December 15, 2022 in connection with the Warnaco acquisition. Interest on the 4 1/2% notes is payable semi-annually in arrears on June 15 and December 15 of each year, beginning on June 15, 2013. The Company paid $16,257 of fees in the first quarter of 2013 in connection with the issuance of these notes, which will be amortized over the term of the notes. The Company may redeem some or all of these notes at any time prior to December 15, 2017 by paying a “make whole” premium plus any accrued and unpaid interest. Subject to certain conditions, the Company may also redeem up to 35% of these notes prior to December 15, 2015 with the net cash proceeds of certain equity offerings without having to pay a penalty or “make whole” premium. In addition, the Company may redeem some or all of these notes on or after December 15, 2017 at specified redemption prices plus any accrued and unpaid interest. The Company’s ability to pay cash dividends and make other restricted payments is limited, in each case, over specified amounts as defined in the indenture governing the notes. 7 3/8% Senior Notes Due 2020 On May 6, 2010, the Company issued $600,000 principal amount of 7 3/8% senior notes due May 15, 2020. Interest on the 7 3/8% notes is payable semi-annually in arrears on May 15 and November 15 of each year. The Company may redeem some or all of these notes on or after May 15, 2015 at specified redemption prices plus any accrued and unpaid interest. The Company may redeem some or all of these notes at any time prior to May 15, 2015 by paying a “make whole” premium plus any accrued and unpaid interest. In addition, subject to certain conditions, the Company may also redeem up to 35% of these notes prior to May 15, 2013, by paying a set premium, with the net proceeds of certain equity offerings. The Company’s ability to pay cash dividends and make other restricted payments is limited, in each case, over specified amounts as defined in the indenture governing the notes. 7 3/4% Debentures Due 2023 The Company has outstanding $100,000 of debentures due on November 15, 2023 with a yield to maturity of 7.80%. The debentures accrue interest at the rate of 7 3/4%, which is payable semi-annually. Pursuant to the indenture governing the debentures, the Company must maintain a certain level of stockholders’ equity in order to pay cash dividends and make other restricted payments, as defined in the indenture governing the debentures. |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
INCOME TAXES
|
6 Months Ended |
---|---|
Aug. 04, 2013
|
|
Notes to Financial Statements [Abstract] | |
INCOME TAXES | INCOME TAXES The effective income tax rates for the thirteen weeks ended August 4, 2013 and July 29, 2012 were 161.1% and 28.0%, respectively. The effective income tax rates for the twenty-six weeks ended August 4, 2013 and July 29, 2012 were (174.0)% and 26.4%, respectively. The effective income tax rate for the thirteen weeks ended August 4, 2013 was higher than the United States statutory rate due to non-recurring discrete items related to the Warnaco integration and state and local taxes, partially offset by the benefit of the overall lower tax rates in international jurisdictions where the Company files tax returns. The effective income tax rate for the twenty-six weeks ended August 4, 2013 was lower than the United States statutory rate due to the net impact of non-recurring discrete items related to the Warnaco integration, state and local taxes and the benefit of the overall lower tax rates in international jurisdictions where the Company files tax returns. Since the Company had a pre-tax loss in the twenty-six weeks ended August 4, 2013, the discrete tax expense caused the effective income tax rate to be negative. The effective income tax rates for the thirteen and twenty-six weeks ended July 29, 2012 were lower than the United States statutory rate due to the benefit of the overall lower tax rates in international jurisdictions where the Company files tax returns and the continuation of the tax synergies resulting from the Tommy Hilfiger acquisition, partially offset by state and local taxes. |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
DERIVATIVE FINANCIAL INSTRUMENTS
|
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 04, 2013
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes to Financial Statements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
DERIVATIVE FINANCIAL INSTRUMENTS | DERIVATIVE FINANCIAL INSTRUMENTS The Company has exposure to changes in foreign currency exchange rates related to certain anticipated cash flows associated with certain international inventory purchases. In addition, the Company has exposure to changes in foreign currency exchange rates on certain intercompany loans. To help manage these exposures, the Company periodically uses foreign currency forward exchange contracts. The Company also has exposure to interest rate volatility related to its senior secured term loan facilities. The Company has entered into interest rate swap agreements to hedge against this exposure. Please see Note 8, “Debt,” for a further discussion of the Company’s senior secured term loan facilities and these agreements. The Company had also entered into an interest rate cap agreement, which expired on September 6, 2012. The Company records the foreign currency forward exchange contracts and interest rate contracts at fair value in its Consolidated Balance Sheets. Changes in fair value of the foreign currency forward exchange contracts associated with certain international inventory purchases and the interest rate contracts (collectively referred to as “cash flow hedges”) that are designated as effective hedging instruments are recorded in equity as a component of accumulated other comprehensive income (loss) (“AOCI”). The cash flows from such hedges are presented in the same category on the Consolidated Statements of Cash Flows as the items being hedged. Any ineffectiveness in such cash flow hedges is immediately recognized in earnings and no contracts were excluded from effectiveness testing. In addition, changes in the fair value of foreign currency forward exchange contracts that are not designated as effective hedging instruments are immediately recognized in earnings, including the changes in fair value of all of the foreign exchange contracts related to intercompany loans which are not of a long-term investment nature. Any gains and losses that are immediately recognized in earnings on such contracts related to intercompany loans are largely offset by the remeasurement of the underlying intercompany loan balances. The Company does not use derivative financial instruments for trading or speculative purposes. The following table summarizes the fair value and presentation in the Consolidated Balance Sheets for the Company’s derivative financial instruments:
At August 4, 2013, the notional amount outstanding of foreign currency forward exchange contracts for inventory purchases and intercompany loans was approximately $422,000 and $80,000, respectively. Such contracts expire principally between August 2013 and August 2014 for inventory purchases and between August 2013 and January 2014 for intercompany loans. The following table summarizes the effect of the Company’s hedges designated as cash flow hedging instruments:
There was no ineffective portion of hedges designated as cash flow hedging instruments during the twenty-six weeks ended August 4, 2013 and July 29, 2012. A net loss in AOCI on foreign currency forward exchange contracts at August 4, 2013 of $2,413 is estimated to be reclassified in the next 12 months in the Consolidated Income Statements to costs of goods sold as the underlying inventory is purchased and sold. In addition, a net loss in AOCI for interest rate contracts at August 4, 2013 of $6,601 is estimated to be reclassified to interest expense within the next 12 months. The following table summarizes the effect of the Company’s foreign currency forward exchange contracts that were not designated as cash flow hedges:
The Company had no derivative financial instruments with credit risk related contingent features underlying the related contracts as of August 4, 2013. |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
FAIR VALUE MEASUREMENTS
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 04, 2013
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes to Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FAIR VALUE MEASUREMENTS | FAIR VALUE MEASUREMENTS FASB guidance for fair value measurements defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. It also establishes a three level hierarchy that prioritizes the inputs used to measure fair value. The three levels of the hierarchy are defined as follows: Level 1 – Inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2 – Observable inputs other than quoted prices included in Level 1, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability and inputs derived principally from or corroborated by observable market data. Level 3 – Unobservable inputs reflecting the Company’s own assumptions about the inputs that market participants would use in pricing the asset or liability based on the best information available. In accordance with the fair value hierarchy described above, the following table shows the fair value of the Company’s financial assets and liabilities that are required to be remeasured at fair value on a recurring basis:
The fair value of the foreign currency forward exchange contracts is measured as the total amount of currency to be purchased, multiplied by the difference between (i) the forward rate as of the period end and (ii) the settlement rate specified in each contract. The fair values of the interest rate contracts are based on observable interest rate yield curves and represent the expected discounted cash flows underlying the financial instruments. Pursuant to the agreement governing the reacquisition of the rights in India to the Tommy Hilfiger trademarks, the Company is required to make annual contingent purchase price payments based on a percentage of annual sales in excess of an agreed upon threshold of Tommy Hilfiger products in India for a period of five years (or, under certain circumstances, a period of six years) following the acquisition date. Such payments are subject to a $25,000 aggregate maximum and are due within 60 days following each one-year period. The first one-year period commenced on July 1, 2011. During the third quarter of 2012, the Company made a contingent purchase price payment of $185 for the first one-year period. The Company is required to remeasure this liability at fair value on a recurring basis and classifies this as a Level 3 measurement. The fair value of such contingent purchase price payments was determined using the discounted cash flow method, based on net sales projections for the Tommy Hilfiger apparel and accessories businesses in India, and was discounted using rates of return that account for the relative risks of the estimated future cash flows. Excluding the initial recognition of the liability for the contingent purchase price payments and payments made to reduce the liability, changes in the fair value are included within selling, general and administrative expenses. The following table presents the change in the Level 3 contingent purchase price payment liability for the twenty-six weeks ended August 4, 2013 and July 29, 2012:
Additional information with respect to assumptions used to value the contingent purchase price payment liability is as follows:
A five percentage point increase or decrease in the discount rate would change the liability by approximately $1,000. A five percentage point increase or decrease in the compounded annual net sales growth rate would change the liability by approximately $1,000. There were no transfers between any levels of the fair value hierarchy for any of the Company’s fair value measurements. There were no material non-financial assets or liabilities that were required to be remeasured at fair value on a non-recurring basis during the twenty-six weeks ended August 4, 2013 and July 29, 2012. The carrying amounts and the fair values of the Company’s cash and cash equivalents, short-term borrowings and long-term debt as of August 4, 2013, February 3, 2013 and July 29, 2012 were as follows:
The fair values of cash and cash equivalents and short-term borrowings approximate their carrying values due to the short-term nature of these instruments. The Company estimates the fair value of its long-term debt using quoted market prices as of the last business day of the applicable quarter. The Company classifies the measurement of its long-term debt as a Level 1 measurement. |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
STOCK-BASED COMPENSATION
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 04, 2013
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
STOCK-BASED COMPENSATION | STOCK-BASED COMPENSATION The Company grants stock-based awards under its 2006 Stock Incentive Plan (the “2006 Plan”). The 2006 Plan replaced the Company’s 2003 Stock Option Plan (the “2003 Plan”) and certain other prior stock option plans. The 2003 Plan and these other plans terminated upon the 2006 Plan’s initial stockholder approval in June 2006, other than with respect to outstanding options, which continued to be governed by the applicable prior plan. Only awards under the 2003 Plan continue to be outstanding insofar as these prior plans are concerned. Shares issued as a result of stock-based compensation transactions generally have been funded with the issuance of new shares of the Company’s common stock. The Company may grant the following types of incentive awards under the 2006 Plan: (i) non-qualified stock options (“NQs”); (ii) incentive stock options (“ISOs”); (iii) stock appreciation rights; (iv) restricted stock; (v) restricted stock units (“RSUs”); (vi) performance share units; and (vii) other stock-based awards. Each award granted under the 2006 Plan is subject to an award agreement that incorporates, as applicable, the exercise price, the term of the award, the periods of restriction, the number of shares to which the award pertains, applicable performance period(s) and performance measure(s), and such other terms and conditions as the plan committee determines. Through August 4, 2013, the Company has granted under the 2006 Plan: (i) service-based NQs, RSUs and restricted stock; (ii) contingently issuable performance share units; and (iii) RSUs that are intended to satisfy the performance-based condition for deductibility under Section 162(m) of the Internal Revenue Code. According to the terms of the 2006 Plan, for purposes of determining the number of shares available for grant, each share underlying a stock option award reduces the number available by one share, each share underlying a restricted stock award reduces the number available by two shares and each share underlying an RSU or performance share unit award reduces the number available by three shares for awards made before April 29, 2009 and by two shares for awards made on or after April 29, 2009. The per share exercise price of options granted under the 2006 Plan cannot be less than the closing price of the common stock on the date of grant (the business day prior to the date of grant for awards granted prior to September 21, 2006). The Company currently has service-based NQs and ISOs outstanding under the 2003 Plan. Such options were granted with an exercise price equal to the closing price of the Company’s common stock on the business day immediately preceding the date of grant. Under the terms of the merger agreement in connection with the Warnaco acquisition, each outstanding award of Warnaco stock options, restricted stock and restricted stock units has been assumed by the Company and converted into an award of the same type, and, subject to the same terms and conditions, but payable in shares of Company common stock. The stock options are generally exercisable in three equal annual installments commencing one year after the date of original grant and the RSUs and restricted stock awards generally vest three years after the date of original grant, principally on a cliff basis. The Company accounted for the replacement awards as a modification of the existing awards. As such, a new fair value was assigned to the awards, a portion of which is included as part of the merger consideration. The merger consideration of $39,752 was determined by multiplying the estimated fair value of the Warnaco awards outstanding at the effective time of the Warnaco acquisition, net of the estimated value of awards to be forfeited, by the proportionate amount of the vesting period that had lapsed as of the acquisition date. The remaining fair value, net of estimated forfeitures, is being expensed on a straight-line basis over the awards’ remaining vesting periods. Net (loss) income for the twenty-six weeks ended August 4, 2013 and July 29, 2012 included $34,478 and $18,891, respectively, of pre-tax expense related to stock-based compensation. Stock options currently outstanding, with the exception of the Warnaco employee replacement awards discussed above, are generally cumulatively exercisable in four equal annual installments commencing one year after the date of grant. The vesting of such options outstanding is also generally accelerated upon retirement (as defined in the applicable plan). Such options are generally granted with a 10-year term. The Company estimates the fair value of stock options granted at the date of grant using the Black-Scholes-Merton model. The estimated fair value of the options, net of estimated forfeitures, is expensed on a straight-line basis over the options’ vesting periods. The following summarizes the assumptions used to estimate the fair value of service-based stock options granted during the twenty-six weeks ended August 4, 2013 (with the exception of the Warnaco employee replacement stock options) and July 29, 2012:
The Company has continued to utilize the simplified method to estimate the expected term for its “plain vanilla” stock options granted due to a lack of relevant historical data resulting, in part, from changes in the pool of employees receiving option grants. The Company will continue to evaluate the appropriateness of utilizing such method. The following summarizes the assumptions used to estimate the fair value of the Warnaco employee stock options that were replaced at the effective time of the acquisition:
Service-based stock option activity for the twenty-six weeks ended August 4, 2013 was as follows:
RSUs granted to employees, with the exception of the Warnaco employee replacement awards, generally vest in three annual installments of 25%, 25% and 50% commencing two years after the date of grant. Service-based RSUs granted to non-employee directors vest in four equal annual installments commencing one year after the date of grant for awards granted prior to 2010 and vest in full one year after the date of grant for awards granted during or after 2010. The underlying RSU award agreements (excluding agreements for non-employee director awards made during or after 2010) generally provide for accelerated vesting upon the award recipient’s retirement (as defined in the 2006 Plan). The fair value of service-based RSUs, with the exception of the Warnaco employee replacement awards, is equal to the closing price of the Company’s common stock on the date of grant and is expensed, net of estimated forfeitures, on a straight-line basis over the RSUs’ vesting periods. RSU activity for the twenty-six weeks ended August 4, 2013 was as follows:
The Company’s restricted stock awards consist solely of awards to Warnaco employees that were replaced with the Company’s restricted stock as of the effective time of the acquisition. The fair value of restricted stock with respect to awards for which the vesting period had not lapsed as of the acquisition date was equal to the closing price of the Company’s common stock on February 12, 2013 and is expensed, net of forfeitures, on a straight-line basis over the vesting period. Restricted stock activity for the twenty-six weeks ended August 4, 2013 was as follows:
The Company granted contingently issuable performance share units to certain of the Company’s senior executives during the first quarter of each of 2012 and 2013 subject to a performance period of two years and a service period of one year beyond the performance period. The Company granted contingently issuable performance share units to certain of the Company’s executives during the second quarter of each of 2010 and 2013 subject to performance periods of three years each. The holders of the awards granted on May 6, 2010 that were subject to a performance period of three years earned an aggregate of 498 shares as a result of the Company’s performance during such three-year period. For the awards granted in the second quarter of 2013, the final number of shares that will be earned, if any, is contingent upon the Company’s achievement of goals for the performance period, of which 50 percent is based upon the Company’s absolute stock price growth during the performance period and 50 percent is based upon the Company’s total shareholder return during the performance period relative to other companies included in the S&P 500 as of the date of grant. For the awards granted in the first quarter of each of 2012 and 2013, the final number of shares that will be earned, if any, is contingent upon the Company’s achievement of goals for each of the performance periods based on both earnings per share growth and return on equity for the awards granted in the first quarter of 2012 and earnings per share growth for the awards granted in the first quarter of 2013 during the applicable performance cycle. For the contingently issuable performance share units granted prior to the second quarter of 2013, the Company records expense ratably over each applicable vesting period based on fair value and the Company’s current expectations of the probable number of shares that will ultimately be issued. The fair value of these contingently issuable performance share units is equal to the closing price of the Company’s common stock on the date of grant, reduced for the present value of any dividends expected to be paid on the Company’s common stock during the performance cycle, as these contingently issuable performance share units do not accrue dividends prior to the completion of the performance cycle. For the contingently issuable performance share units granted during the second quarter of 2013, because the awards are subject to market conditions, the Company records expense ratably over the vesting period, net of estimated forfeitures, regardless of whether the market condition is satisfied. The fair value of such awards was established on the grant date using the Monte Carlo simulation model, which was based on the following assumptions:
Performance share unit activity for the twenty-six weeks ended August 4, 2013 was as follows:
The Company receives a tax deduction for certain transactions associated with its stock plan awards. The actual income tax benefits realized from these transactions for the twenty-six weeks ended August 4, 2013 and July 29, 2012 were $45,554 and $12,606, respectively. Of those amounts, $15,091 and $7,082, respectively, were reported as excess tax benefits. Excess tax benefits arise when the actual tax benefit resulting from a stock plan award transaction exceeds the tax benefit associated with the grant date fair value of the related stock award. The Company recognizes these excess tax benefits in additional paid in capital only if an incremental tax benefit would be realized after considering all other tax benefits presently available to the Company. |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
ACCUMULATED OTHER COMPREHENSIVE INCOME
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 04, 2013
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income [Text Block] | ACCUMULATED OTHER COMPREHENSIVE INCOME The following table presents the changes in AOCI (net of tax) by component for the twenty-six weeks ended August 4, 2013:
The following table presents reclassifications out of AOCI to earnings:
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
STOCKHOLDERS' EQUITY
|
6 Months Ended |
---|---|
Aug. 04, 2013
|
|
Equity [Abstract] | |
STOCKHOLDERS' EQUITY | STOCKHOLDERS’ EQUITY Common Stock Issuance On February 13, 2013, the Company issued 7,674 shares of its common stock, par value $1.00 per share, as part of the consideration paid to the former stockholders of Warnaco in connection with the acquisition. Series A Convertible Preferred Stock Issuance and Conversion In 2010, the Company sold 8 shares of Series A convertible preferred stock for net proceeds of $188,595 after related fees and expenses. During the first quarter of 2012, one of the holders of Series A convertible preferred stock converted an aggregate of $94,297 of the Series A convertible preferred stock, or 4 shares, into 2,095 shares of the Company’s common stock. The remaining shares of Series A convertible preferred stock were converted into the Company’s common stock during the fourth quarter of 2012. Holders of the Series A convertible preferred stock were entitled to vote and participate in dividends with the holders of the Company’s common stock on an as-converted basis. Due to the conversions of such stock, there were no outstanding shares of the Company’s Series A convertible preferred stock during the twenty-six weeks ended August 4, 2013. On May 2, 2013, the Company filed with the Secretary of State of the State of Delaware a certificate eliminating the Series A convertible preferred stock. |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
ACTIVITY EXIT COSTS
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 04, 2013
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes to Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ACTIVITY EXIT COSTS | ACTIVITY EXIT COSTS Warnaco Integration Costs In connection with the Company’s acquisition of Warnaco during the first quarter of 2013 and the related integration, the Company incurred certain costs related to severance and termination benefits, inventory liquidations and lease/contract terminations. Such costs were as follows:
Of the charges for severance, termination benefits and lease/contract termination and other costs incurred during the twenty-six weeks ended August 4, 2013, $23,544 relate to selling, general and administrative expenses of the Calvin Klein North America segment, $39,733 relate to selling, general and administrative expenses of the Calvin Klein International segment, $12,463 relate to selling, general and administrative expenses of the Heritage Brands Wholesale segment and $26,092 relate to corporate expenses not allocated to any reportable segment. The liabilities at August 4, 2013 related to these costs were principally recorded in accrued expenses in the Company’s Consolidated Balance Sheets. The remaining charges for severance and termination benefits and lease/contract termination and other costs expected to be incurred relate principally to the aforementioned segments and corporate expenses not allocated to any reportable segment. Inventory liquidation costs incurred during the twenty-six weeks ended August 4, 2013 were included in net sales of the Company’s Calvin Klein International segment. (See Note 18, “Segment Data.”) Tommy Hilfiger Integration and Exit Costs In connection with the Company’s acquisition and integration of Tommy Hilfiger and the related restructuring, the Company incurred certain costs related to severance and termination benefits, long-lived asset impairments, inventory liquidations and lease/contract terminations, including costs associated with the exit of certain Tommy Hilfiger product categories. All expected costs related to this acquisition and integration and the related restructuring were incurred by the end of 2012. Liabilities for severance and termination benefits and lease/contract termination costs recorded in connection with the acquisition and integration of Tommy Hilfiger and the related restructuring were principally recorded in accrued expenses in the Company’s Consolidated Balance Sheets and were as follows:
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
NET (LOSS) INCOME PER COMMON SHARE
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 04, 2013
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes to Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
NET (LOSS) INCOME PER COMMON SHARE | NET (LOSS) INCOME PER COMMON SHARE In 2012, the Company utilized the two-class method of calculating basic net (loss) income per common share, as holders of the Company’s Series A convertible preferred stock participated in dividends with holders of the Company’s common stock prior to the conversion in 2012 of such convertible preferred stock into common stock. Net losses were not allocated to holders of the Series A convertible preferred stock. The Company computed its basic and diluted net (loss) income per common share as follows:
Potentially dilutive securities excluded from the calculation of diluted net (loss) income per common share were as follows:
Contingently issuable shares that have not met the necessary conditions as of the end of a reporting period are not included in the calculation of diluted net (loss) income per common share for that period. The Company had contingently issuable awards outstanding that did not meet the performance conditions as of August 4, 2013 and July 29, 2012 and, therefore, were excluded from the calculation of diluted net (loss) income per common share for the thirteen and twenty-six weeks ended August 4, 2013 and July 29, 2012. The maximum number of potentially dilutive shares that could be issued upon vesting for such awards was 189 and 678 as of August 4, 2013 and July 29, 2012, respectively. These amounts were also excluded from the computation of weighted average antidilutive securities. |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
NONCASH INVESTING AND FINANCING TRANSACTIONS
|
6 Months Ended |
---|---|
Aug. 04, 2013
|
|
Notes to Financial Statements [Abstract] | |
NONCASH INVESTING AND FINANCING TRANSACTIONS | NONCASH INVESTING AND FINANCING TRANSACTIONS During the twenty-six weeks ended August 4, 2013 and July 29, 2012, the Company recorded increases to goodwill of $22,722 and $22,226, respectively, related to liabilities incurred for contingent purchase price payments to Mr. Calvin Klein. Such amounts are not due or paid in cash until 45 days subsequent to the Company’s applicable quarter end. As such, during the twenty-six weeks ended August 4, 2013 and July 29, 2012, the Company paid $26,734 and $25,749, respectively, in cash related to contingent purchase price payments to Mr. Calvin Klein that were recorded as additions to goodwill during the periods the liabilities were incurred. During the first quarter of 2013, the Company issued 7,674 shares of its common stock, par value $1.00 per share (of which 416 shares were issued from treasury stock), as part of the consideration paid to the former stockholders of Warnaco in connection with the acquisition, which resulted in an increase in common stock of $7,258, an increase in additional paid in capital of $888,925 and a decrease in treasury stock of $30,269. In addition, the Company issued awards valued at $39,752 to replace outstanding stock awards made by Warnaco to its employees, which for accounting purposes are included in the total acquisition consideration. Also included in the acquisition consideration was the elimination of a $9,128 pre-acquisition liability to Warnaco. During the first quarter of 2013, the Company recorded a loss of $5,757 to write-off previously capitalized debt issuance costs in connection with the modification and extinguishment of its previously outstanding senior secured credit facilities. During the first quarter of 2012, one of the holders of the Company’s Series A convertible preferred stock converted an aggregate of 4 shares into 2,095 shares of the Company’s common stock, resulting in a decrease in Series A convertible preferred stock of $94,297, an increase in common stock of $2,095, and an increase in additional paid in capital of $92,202. The remaining shares of Series A convertible preferred stock were converted into the Company’s common stock during the fourth quarter of 2012. Please see Note 14, “Stockholders’ Equity.” Omitted from purchases of property, plant and equipment in the Consolidated Statement of Cash Flows for the twenty-six weeks ended August 4, 2013 and July 29, 2012 are $2,663 and $13,480, respectively, of assets acquired through capital leases. |
X | ||||||||||
- Definition
This text block relates to noncash investing and/orfinancing activities that occurred during the accounting period. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. No definition available.
|
X | ||||||||||
- Details
|
SEGMENT DATA
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 04, 2013
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Notes to Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SEGMENT DATA | SEGMENT DATA The acquisition of Warnaco significantly impacted the way the Company and its chief operating decision maker manage and analyze its operating results. As such, the Company changed its reportable segments beginning with the first quarter of 2013. Prior year periods have been restated in order to present that information on a basis consistent with the current year. The Company manages its operations through its operating divisions, which are presented as six reportable segments: (i) Calvin Klein North America; (ii) Calvin Klein International; (iii) Tommy Hilfiger North America; (iv) Tommy Hilfiger International; (v) Heritage Brands Wholesale; and (vi) Heritage Brands Retail. Calvin Klein North America segment - This segment consists of the Company’s Calvin Klein North America division. This segment derives revenue principally from (i) marketing Calvin Klein branded apparel and related products at wholesale in North America, primarily to department, mid-tier department and specialty stores; (ii) operating retail stores, which are primarily located in outlet centers, and an e-commerce website for North American customers, which sell Calvin Klein branded apparel, accessories and related products; and (iii) licensing and similar arrangements relating to the use by third parties of the brand names Calvin Klein Collection, ck Calvin Klein (in the process of being changed to Calvin Klein on a platinum label) and Calvin Klein for a broad array of products and retail services in North America. Calvin Klein International segment - This segment consists of the Company’s Calvin Klein International division. This segment derives revenue principally from (i) marketing Calvin Klein branded apparel and related products at wholesale principally in Europe, Asia and Brazil, primarily to department and specialty stores and franchise operators of Calvin Klein stores, and through distributors; (ii) operating retail stores in Europe, Asia and Brazil, which sell Calvin Klein branded apparel, accessories and related products; and (iii) licensing and similar arrangements relating to the use by third parties of the brand names Calvin Klein Collection, ck Calvin Klein (in the process of being changed to Calvin Klein on a platinum label) and Calvin Klein for a broad array of products and retail services outside of North America. Tommy Hilfiger North America segment - This segment consists of the Company’s Tommy Hilfiger North America division. This segment derives revenue principally from (i) marketing Tommy Hilfiger branded apparel and related products at wholesale in North America, primarily to department stores, principally Macy’s; and (ii) operating retail stores and an e-commerce website for North American customers, which sell Tommy Hilfiger branded apparel, accessories and related products. This segment also derives revenue from licensing and similar arrangements relating to the use by third parties of the Tommy Hilfiger brand name for a broad array of products in North America. Tommy Hilfiger International segment - This segment consists of the Company’s Tommy Hilfiger International division. This segment derives revenue principally from (i) marketing Tommy Hilfiger branded apparel and related products at wholesale principally in Europe, primarily to department and specialty stores and franchise operators of Tommy Hilfiger stores, and through distributors and licensees; and (ii) operating retail stores in Europe and Japan, as well as operating an international e-commerce site, which sell Tommy Hilfiger branded apparel, accessories and related products. This segment also includes the Company’s proportionate share of the net income or loss of its investments in unconsolidated Tommy Hilfiger foreign affiliates. This segment also derives revenue from licensing and similar arrangements relating to the use by third parties of the Tommy Hilfiger brand name for a broad array of products outside of North America. Heritage Brands Wholesale segment - This segment consists of the Company’s heritage brands wholesale division. This segment derives revenue primarily from the marketing to department, mid-tier department and specialty stores in North America of: (i) dress shirts and neckwear under various owned and licensed brand names, including several private label brands; (ii) men’s sportswear under the brand names Van Heusen, IZOD and ARROW; (iii) swimwear, fitness apparel, swim accessories and related products under the brand name Speedo beginning in the first quarter of 2013; and (iv) women’s intimate apparel under the brand names Warner’s and Olga beginning in the first quarter of 2013. This segment also derived revenue through the second quarter of 2012 from marketing men’s sportswear under the brand name Timberland and through the third quarter of 2012 from marketing women’s sportswear under the brand name IZOD. Heritage Brands Retail segment - This segment consists of the Company’s Heritage Brands retail division. This segment derives revenue principally from operating retail stores, primarily in outlet centers in North America, which sell apparel, footwear, accessories and related products under the brand names Van Heusen, IZOD, Bass and G.H. Bass & Co. The following tables present summarized information by segment:
Intersegment transactions consist of transfers of inventory principally from the Heritage Brands Wholesale segment to the Heritage Brands Retail segment and the Calvin Klein North America segment. These transfers are recorded at cost plus a standard markup percentage. Such markup percentage is eliminated principally in the Heritage Brands Retail segment and the Calvin Klein North America segment. The following table presents the Company’s total assets by segment:
(1) Corporate at February 3, 2013 included $700,000 of cash that arose from senior notes that were issued to fund a portion of the consideration for the Warnaco acquisition. |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
GUARANTEES
|
6 Months Ended |
---|---|
Aug. 04, 2013
|
|
Guarantees [Abstract] | |
GUARANTEES | GUARANTEES The Company guaranteed to a landlord the payment of rent and related costs by the tenant currently occupying space previously leased by the Company. The maximum amount guaranteed as of August 4, 2013 is approximately $3,600, which is subject to exchange rate fluctuation. The Company has the right to seek recourse of approximately $2,300 as of August 4, 2013, which is subject to exchange rate fluctuation. The guarantee expires on May 19, 2016. The Company has certain other guarantees whereby it guaranteed the payment of amounts on behalf of certain other parties, none of which are material individually or in the aggregate. |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
RECENT ACCOUNTING GUIDANCE
|
6 Months Ended |
---|---|
Aug. 04, 2013
|
|
Notes to Financial Statements [Abstract] | |
RECENT ACCOUNTING GUIDANCE | RECENT ACCOUNTING GUIDANCE The FASB issued in February 2013 guidance that requires an entity to provide information about significant amounts reclassified out of AOCI. For amounts that are required to be reclassified in their entirety to net income in the same reporting period, an entity must report the amounts by component and their corresponding effect on the respective line items of net income. Such information is required to be presented either on the face of the financial statements or as a separate disclosure in the footnotes to the financial statements. For other amounts that are not required to be reclassified to net income in their entirety, an entity is required to cross-reference to other disclosures. The Company adopted this guidance during the first quarter of 2013 and elected to present a separate disclosure in the Notes to Consolidated Financial Statements. The adoption did not have any impact on the Company’s consolidated results of operations or financial position. The FASB issued in March 2013 guidance that requires an entity to release any related cumulative translation adjustment into net income when it ceases to have a controlling financial interest in a subsidiary that is a foreign entity if the sale or transfer results in the complete or substantially complete liquidation of the foreign entity. For an equity method investment that is a foreign entity, a pro rata portion of the cumulative translation adjustment related to the investment should be released into net income upon a partial sale of such investment. This guidance becomes effective for the Company in the first quarter of 2014. The adoption is not expected to have a material impact on the Company’s consolidated results of operations or financial position. The FASB issued in July 2013 guidance that requires an entity to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward. However, to the extent (i) a net operating loss carryforward, a similar tax loss or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or (ii) the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. This guidance becomes effective prospectively for the Company in the first quarter of 2014. The adoption is not expected to have any impact on the Company’s consolidated results of operations or financial position. |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
GENERAL (Policies)
|
6 Months Ended |
---|---|
Aug. 04, 2013
|
|
General [Abstract] | |
Fiscal Period | The Company’s fiscal years are based on the 52-53 week period ending on the Sunday closest to February 1 and are designated by the calendar year in which the fiscal year commences. |
Consolidation, Policy [Text Block] | The consolidated financial statements include the accounts of the Company. Intercompany accounts and transactions have been eliminated in consolidation. Investments in entities that the Company does not control but has the ability to exercise significant influence over are accounted for using the equity method of accounting. Please see Note 4, “Investments in Unconsolidated Affiliates,” for a further discussion. The Company’s Consolidated Income Statements include its proportionate share of the net income or loss of these entities. As a result of the acquisition of The Warnaco Group, Inc. (“Warnaco”), the Company owns a majority interest in a joint venture in India that is consolidated and accounted for as a redeemable non-controlling interest. Please see Note 5, “Redeemable Non-Controlling Interest,” for a further discussion. The redeemable non-controlling interest represents the minority shareholders’ proportionate share (49%) of the equity in the Company’s consolidated subsidiary. |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
ACQUISITIONS (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 04, 2013
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Combinations [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition consideration [Table Text Block] | The acquisition date fair value of the acquisition consideration paid at closing totaled $3,137,056, which consisted of the following:
The fair value of the 7,674 common shares issued was equal to the aggregate value of the shares at the closing market price of the Company’s common stock on February 12, 2013, the day prior to the closing. The value of the replacement stock awards was determined by multiplying the estimated fair value of the Warnaco awards outstanding at the time of the acquisition, reduced by an estimated value of awards to be forfeited, by the proportionate amount of the vesting period that had lapsed as of the acquisition date. Also included in the acquisition consideration was the elimination of a $9,128 pre-acquisition liability to Warnaco. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business acquisition, pro forma information [Table Text Block] | The following table presents the Company’s pro forma consolidated results of operations for the thirteen and twenty-six weeks ended August 4, 2013 and July 29, 2012, as if the acquisition and the related financing transactions had occurred on January 30, 2012 (the first day of its fiscal year ended February 3, 2013) instead of on February 13, 2013. The pro forma results were calculated applying the Company’s accounting policies and reflect (i) the impact on revenue, cost of goods sold and selling, general and administrative expenses resulting from the elimination of intercompany transactions; (ii) the impact on depreciation and amortization expense based on fair value adjustments to Warnaco’s property, plant and equipment and intangible assets recorded in connection with the acquisition; (iii) the impact on interest expense resulting from changes to the Company’s capital structure in connection with the acquisition; (iv) the impact on cost of goods sold resulting from acquisition date adjustments to the fair value of inventory; (v) the elimination of transaction costs related to the acquisition that were included in the Company’s results of operations for the thirteen and twenty-six weeks ended August 4, 2013; and (vi) the tax effects of the above adjustments. The pro forma results do not include any anticipated cost synergies or other effects of the planned integration of Warnaco. Accordingly, such pro forma amounts are not indicative of the results that actually would have occurred had the acquisition been completed on January 30, 2012, nor are they indicative of the future operating results of the combined company.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business combination, allocation of the acquisition consideration [Table Text Block] | The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition:
The Company is still in the process of valuing the assets acquired and liabilities assumed; thus, the allocation of the acquisition consideration is subject to change. |
X | ||||||||||
- Definition
Acquisition Consideration No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 04, 2013
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Other Intangible Assets [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Goodwill [Table Text Block] | The changes in the carrying amount of goodwill for the twenty-six weeks ended August 4, 2013, by segment, were as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Intangible Assets [Table Text Block] | The Company’s intangible assets consisted of the following:
(1) Change from February 3, 2013 to August 4, 2013 primarily relates to intangible assets recorded in connection with the acquisition of Warnaco. The acquired customer relationships are amortized principally over 10 years, order backlog is amortized principally over 6 months and reacquired license rights are amortized principally over 33 years from the date of the acquisition. As of August 4, 2013, the weighted average life of the amortizable intangible assets recorded in connection with the acquisition of Warnaco was 27.7 years. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Expected Amortization Expense [Table Text Block] | Amortization expense, a portion of which is subject to exchange rate fluctuation, for the remainder of 2013 and the next five years thereafter related to the Company’s intangible assets as of August 4, 2013 is expected to be as follows:
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Schedule of assets, excluding financial assets and goodwill, lacking physical substance with both finite and indefinite lives. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
RETIREMENT AND BENEFIT PLANS (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 04, 2013
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | Net benefit cost related to the Company’s Pension Plans was recognized in selling, general and administrative expenses as follows:
Net benefit cost related to the Company’s SERP Plans was recognized in selling, general and administrative expenses as follows:
Net benefit cost related to the Company’s Postretirement Plans was recognized in selling, general and administrative expenses as follows:
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
DEBT (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 04, 2013
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | The carrying amounts of the Company’s long-term debt were as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Mandatory Long-Term Debt Repayments [Table] | As of August 4, 2013, the Company’s mandatory long-term debt repayments for the next five years were as follows:
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Represents schedule of mandatory long-term debt repayments. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
|
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 04, 2013
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Financial Instruments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | The following table summarizes the fair value and presentation in the Consolidated Balance Sheets for the Company’s derivative financial instruments:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block] | The following table summarizes the effect of the Company’s hedges designated as cash flow hedging instruments:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | The following table summarizes the effect of the Company’s foreign currency forward exchange contracts that were not designated as cash flow hedges:
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
FAIR VALUE MEASUREMENTS (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 04, 2013
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10. Fair Value Measurements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | In accordance with the fair value hierarchy described above, the following table shows the fair value of the Company’s financial assets and liabilities that are required to be remeasured at fair value on a recurring basis:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | The following table presents the change in the Level 3 contingent purchase price payment liability for the twenty-six weeks ended August 4, 2013 and July 29, 2012:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Table Text Block] | Additional information with respect to assumptions used to value the contingent purchase price payment liability is as follows:
A five percentage point increase or decrease in the discount rate would change the liability by approximately $1,000. A five percentage point increase or decrease in the compounded annual net sales growth rate would change the liability by approximately $1,000. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | The carrying amounts and the fair values of the Company’s cash and cash equivalents, short-term borrowings and long-term debt as of August 4, 2013, February 3, 2013 and July 29, 2012 were as follows:
The fair values of cash and cash equivalents and short-term borrowings approximate their carrying values due to the short-term nature of these instruments. The Company estimates the fair value of its long-term debt using quoted market prices as of the last business day of the applicable quarter. The Company classifies the measurement of its long-term debt as a Level 1 measurement. |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
STOCK-BASED COMPENSATION (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 04, 2013
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Table Of Weighted Average Black Scholes Fair Value Assumptions [Table Text Block] | The following summarizes the assumptions used to estimate the fair value of service-based stock options granted during the twenty-six weeks ended August 4, 2013 (with the exception of the Warnaco employee replacement stock options) and July 29, 2012:
The Company has continued to utilize the simplified method to estimate the expected term for its “plain vanilla” stock options granted due to a lack of relevant historical data resulting, in part, from changes in the pool of employees receiving option grants. The Company will continue to evaluate the appropriateness of utilizing such method. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Table Of Weighted Average Black Scholes Fair Value Assumptions Warnaco Replacement [Table Text Block] | The following summarizes the assumptions used to estimate the fair value of the Warnaco employee stock options that were replaced at the effective time of the acquisition:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Service-based stock option activity for the twenty-six weeks ended August 4, 2013 was as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | RSU activity for the twenty-six weeks ended August 4, 2013 was as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Restricted Stock Activity [Table Text Block] | Restricted stock activity for the twenty-six weeks ended August 4, 2013 was as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Nonvested Performance-based Units Activity [Table Text Block] | Performance share unit activity for the twenty-six weeks ended August 4, 2013 was as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Table of Weighted Average Monte Carlo Fair Value Assumptions Performance Awards [Table Text Block] | The fair value of such awards was established on the grant date using the Monte Carlo simulation model, which was based on the following assumptions:
|
X | ||||||||||
- Definition
Schedule of Restricted Stock Activity [Table Text Block] No definition available.
|
X | ||||||||||
- Definition
Table Of Weighted Average Black Scholes Fair Value Assumptions No definition available.
|
X | ||||||||||
- Definition
Table Of Weighted Average Black Scholes Fair Value Assumptions related to Warnaco replacement awards. No definition available.
|
X | ||||||||||
- Definition
Table of Weighted Average Fair Value Assumptions for Performance Awards using Monte Carlo Valuation Method [Table Text Block] No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
ACCUMULATED OTHER COMPREHENSIVE INCOME ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)
|
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 04, 2013
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Accumulated Other Comprehensive Income [Table Text Block] | The following table presents the changes in AOCI (net of tax) by component for the twenty-six weeks ended August 4, 2013:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Amounts Reclassified Out of Accumulated Other Comprehensive Income [Table Text Block] | The following table presents reclassifications out of AOCI to earnings:
|
X | ||||||||||
- Definition
Schedule of Amounts Reclassified Out of Accumulated Other Comprehensive Income (Loss) [Table Text Block] No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
ACTIVITY EXIT COSTS (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 04, 2013
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warnaco Acquisition and Integration Costs [Member]
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Restructuring and Related Costs [Table Text Block] | In connection with the Company’s acquisition of Warnaco during the first quarter of 2013 and the related integration, the Company incurred certain costs related to severance and termination benefits, inventory liquidations and lease/contract terminations. Such costs were as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tommy Hilfiger Integration and Exit Costs [Member]
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Restructuring Accrued Liabilities Costs Incurred And Paid [Table Text Block] | Liabilities for severance and termination benefits and lease/contract termination costs recorded in connection with the acquisition and integration of Tommy Hilfiger and the related restructuring were principally recorded in accrued expenses in the Company’s Consolidated Balance Sheets and were as follows:
|
X | ||||||||||
- Definition
Tabular disclosure of the components of restructuring reserve, including accrued liabilities, costs incurred and costs paid related to integration and acquisitions. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
NET (LOSS) INCOME PER COMMON SHARE (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 04, 2013
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | The Company computed its basic and diluted net (loss) income per common share as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Potentially dilutive securities excluded from the calculation of diluted net (loss) income per common share were as follows:
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
SEGMENT DATA (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 04, 2013
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Data [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | The following tables present summarized information by segment:
Intersegment transactions consist of transfers of inventory principally from the Heritage Brands Wholesale segment to the Heritage Brands Retail segment and the Calvin Klein North America segment. These transfers are recorded at cost plus a standard markup percentage. Such markup percentage is eliminated principally in the Heritage Brands Retail segment and the Calvin Klein North America segment. The following table presents the Company’s total assets by segment:
(1) Corporate at February 3, 2013 included $700,000 of cash that arose from senior notes that were issued to fund a portion of the consideration for the Warnaco acquisition. |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
GENERAL (Details)
|
6 Months Ended |
---|---|
Aug. 04, 2013
|
|
Fiscal Period [Line Items] | |
Fiscal year, minimum number of weeks | P52W |
Fiscal year, maximum number of weeks | P53W |
Non-controlling interest, ownership percentage by non-controlling shareholders | 49.00% |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Maximum weeks comprising the Company's fiscal year ending on the Sunday closest to February 1. No definition available.
|
X | ||||||||||
- Definition
Minimum weeks comprising the Company's fiscal year ending on the Sunday closest to February 1. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
ACQUISITIONS (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 0 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Feb. 03, 2013
|
Aug. 04, 2013
|
Feb. 03, 2013
|
Feb. 13, 2013
Warnaco acquisition [Member]
|
May 05, 2013
Warnaco acquisition [Member]
|
Aug. 04, 2013
Warnaco acquisition [Member]
|
Feb. 03, 2013
Warnaco acquisition [Member]
|
Feb. 13, 2013
Warnaco acquisition [Member]
Calvin Klein North America [Member]
|
Feb. 13, 2013
Warnaco acquisition [Member]
Calvin Klein International [Member]
|
Feb. 13, 2013
Warnaco acquisition [Member]
Heritage Brands Wholesale [Member]
|
Feb. 13, 2013
Loans Payable [Member]
|
Feb. 13, 2013
Perpetual License Rights [Member]
Warnaco acquisition [Member]
|
Feb. 13, 2013
Tradenames [Member]
Warnaco acquisition [Member]
|
Feb. 13, 2013
Reacquired Perpetual License Rights [Member]
Warnaco acquisition [Member]
|
Feb. 13, 2013
Order Backlog [Member]
Warnaco acquisition [Member]
|
Feb. 13, 2013
Customer Relationships [Member]
Warnaco acquisition [Member]
|
|
Business Acquisition [Line Items] | ||||||||||||||||
Debt instrument, interest rate, stated percentage | 4.50% | |||||||||||||||
Calvin Klein categories | 2 | |||||||||||||||
Total fair value of the acquisition consideration | $ 3,137,056 | |||||||||||||||
Business acquisition, equity interest issued or issuable, number of shares | 7,674 | 7,674 | ||||||||||||||
Elimination of pre-acquisition liability to Warnaco | 9,128 | 9,128 | ||||||||||||||
Proceeds from issuance of long-term debt | 700,000 | 700,000 | 3,075 | |||||||||||||
Acquisition, integration and related restructuring costs | 142,000 | 185,000 | 43,000 | |||||||||||||
Warnaco revenue recorded from acquisition date through period-end | 1,027,878 | |||||||||||||||
Warnaco net loss recorded from acquisition date through period end | (62,727) | |||||||||||||||
Goodwill | 1,451,479 | 443,419 | 878,786 | 129,274 | ||||||||||||
Amortizable Intangible Assets | 1,636,300 | |||||||||||||||
Other intangibles | 824,800 | 578,000 | 97,000 | 149,800 | ||||||||||||
Intangible assets not amortizable | $ 206,900 | $ 604,600 |
X | ||||||||||
- Definition
Costs incurred to effect a business acquisition, integration and restructuring which have been expensed during the period. No definition available.
|
X | ||||||||||
- Definition
The amount of goodwill recognized as of the acquisition date. No definition available.
|
X | ||||||||||
- Definition
-- None. No documentation exists for this element. -- No definition available.
|
X | ||||||||||
- Definition
Represents a pre-acquisition liability payable to Warnaco. No definition available.
|
X | ||||||||||
- Definition
The Warnaco net loss recorded for the period from the date of acquisition through period-end. No definition available.
|
X | ||||||||||
- Definition
The Warnaco revenue recorded for the period from the date of acquisition through period-end. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
ACQUISITIONS Fair Value Of Acquisition Consideration (Details) (USD $)
In Thousands, unless otherwise specified |
0 Months Ended | 3 Months Ended |
---|---|---|
Feb. 13, 2013
|
May 05, 2013
|
|
Business Acquisition [Line Items] | ||
Warnaco employee replacement stock awards | $ 39,752 | |
Warnaco acquisition [Member]
|
||
Business Acquisition [Line Items] | ||
Cash | 2,179,980 | |
Common stock (7,674 shares, par value $1.00 per share) | 926,452 | |
Warnaco employee replacement stock awards | 39,752 | 39,752 |
Elimination of pre-acquisition liability to Warnaco | 9,128 | 9,128 |
Total fair value of the acquisition consideration | $ 3,137,056 |
X | ||||||||||
- Definition
Amount of cash paid to acquire the entity. No definition available.
|
X | ||||||||||
- Definition
Represents a pre-acquisition liability payable to Warnaco. No definition available.
|
X | ||||||||||
- Definition
Issuance of replacement stock awards pertaining to employee stock-based compensation grants, issued in connection with the acquisition of Warnaco and included in the total acquisition consideration. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
ACQUISITIONS Pro Forma Results Of Operations (Details) (Warnaco acquisition [Member], USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Aug. 04, 2013
|
Jul. 29, 2012
|
Aug. 04, 2013
|
Jul. 29, 2012
|
|
Warnaco acquisition [Member]
|
||||
Pro Forma Consolidated Results Of Operations [Line Items] | ||||
Total revenue | $ 1,964,847 | $ 1,803,015 | $ 3,938,037 | $ 3,743,839 |
Net income attributable to PVH Corp. | $ 74,545 | $ 39,616 | $ 149,948 | $ 80,417 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
ACQUISITIONS Allocation of Acquisition Consideration (Details) (Warnaco acquisition [Member], USD $)
In Thousands, unless otherwise specified |
Feb. 13, 2013
|
---|---|
Business Acquisition [Line Items] | |
Cash and cash equivalents | $ 364,651 |
Trade receivables | 290,964 |
Other receivables | 47,011 |
Inventories | 452,841 |
Prepaid expenses | 39,979 |
Other current assets | 60,626 |
Property, plant and equipment | 131,357 |
Goodwill | 1,451,479 |
Other intangibles | 824,800 |
Other assets | 144,058 |
Total assets acquired | 4,619,266 |
Accounts payable | 179,931 |
Accrued expenses | 262,432 |
Short-term borrowings | 26,927 |
Current portion of long-term debt | 2,000 |
Long-term debt | 195,000 |
Other liabilities | 810,320 |
Total liabilities assumed | 1,476,610 |
Redeemable non-controlling interest | 5,600 |
Total fair value of the acquisition consideration | 3,137,056 |
Tradenames [Member]
|
|
Business Acquisition [Line Items] | |
Intangible assets not amortizable | 604,600 |
Perpetual License Rights [Member]
|
|
Business Acquisition [Line Items] | |
Intangible assets not amortizable | $ 206,900 |
X | ||||||||||
- Definition
The amount of acquisition cost of a business combination allocated to other receivables. No definition available.
|
X | ||||||||||
- Definition
Amount of liabilities incurred that are used in an entity's business, assumed at the acquisition date. No definition available.
|
X | ||||||||||
- Definition
Amount of short-term borrowings assumed at the acquisition date. No definition available.
|
X | ||||||||||
- Definition
The amount of goodwill recognized as of the acquisition date. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
INVESTMENTS IN UNCONSOLIDATED AFFILIATES (Details) (USD $)
In Thousands, unless otherwise specified |
Aug. 04, 2013
|
Feb. 03, 2013
|
Jul. 29, 2012
|
---|---|---|---|
Schedule of Equity Method Investments [Line Items] | |||
Equity Method Investments | $ 62,822 | $ 62,021 | $ 46,880 |
Tommy Hilfiger Brazil Joint Venture [Member]
|
|||
Schedule of Equity Method Investments [Line Items] | |||
Equity Method Investment, Ownership Percentage | 40.00% | ||
Tommy Hilfiger China Joint Venture [Member]
|
|||
Schedule of Equity Method Investments [Line Items] | |||
Equity Method Investment, Ownership Percentage | 45.00% | ||
Tommy Hilfiger India Joint Venture [Member]
|
|||
Schedule of Equity Method Investments [Line Items] | |||
Equity Method Investment, Ownership Percentage | 50.00% |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
REDEEMABLE NON-CONTROLLING INTEREST (Details) (USD $)
In Thousands, unless otherwise specified |
6 Months Ended | ||||||
---|---|---|---|---|---|---|---|
Aug. 04, 2013
individual
|
Feb. 03, 2013
|
Jul. 29, 2012
|
Aug. 04, 2013
Warnaco acquisition [Member]
|
Feb. 13, 2013
Warnaco acquisition [Member]
|
Aug. 04, 2013
24% ownership [Member]
|
Aug. 04, 2013
25% ownership [Member]
|
|
Non-controlling Interest [Line Items] | |||||||
Non-controlling shareholder | 1 | ||||||
Non-controlling interest, ownership percentage by parent | 51.00% | ||||||
Redeemable non-controlling interest, fair value | $ 5,600 | ||||||
Fair Value Adjustment to Equity | 1,625 | ||||||
Assets, Current | 3,080,645 | 2,437,006 | 1,819,938 | ||||
Redeemable Non-Controlling Interest | $ 5,600 | $ 0 | $ 0 | $ 5,600 | |||
Non-controlling interest, ownership percentage by non-controlling shareholders | 49.00% | 24.00% | 25.00% | ||||
Period used to determine put price based upon joint venture's earnings before interest, taxes, depreciation and amortization | 12 months |
X | ||||||||||
- Definition
Fair value adjustment to retained earnings to increase value of redeemable non-controlling interest to initial fair value. No definition available.
|
X | ||||||||||
- Definition
Period used to determine put price based upon joint venture's earnings before interest, taxes, depreciation and amortization No definition available.
|
X | ||||||||||
- Definition
One non-controlling shareholder with 24% ownership. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill (Details) (USD $)
In Thousands, unless otherwise specified |
6 Months Ended | |
---|---|---|
Aug. 04, 2013
|
Jul. 29, 2012
|
|
Goodwill and Other Intangible Assets [Line Items] | ||
Contingent Purchase Price Payments Percentage | 1.15% | |
Goodwill [Roll Forward] | ||
Goodwill, gross, beginning of period | $ 1,958,887 | |
Accumulated impairment losses, beginning of period | 0 | |
Goodwill, net, beginning of period | 1,958,887 | 1,777,724 |
Contingent purchase price payments to Mr. Calvin Klein | 22,722 | |
Goodwill from acquisition of Warnaco | 1,451,479 | |
Currency translation | (65,086) | |
Goodwill, gross, end of period | 3,368,002 | |
Accumulated impairment losses, end of period | 0 | |
Goodwill, net, end of period | 3,368,002 | 1,777,724 |
Calvin Klein North America [Member]
|
||
Goodwill [Roll Forward] | ||
Goodwill, gross, beginning of period | 207,083 | |
Accumulated impairment losses, beginning of period | 0 | |
Goodwill, net, beginning of period | 207,083 | |
Contingent purchase price payments to Mr. Calvin Klein | 13,406 | |
Currency translation | (1,930) | |
Goodwill, gross, end of period | 661,978 | |
Accumulated impairment losses, end of period | 0 | |
Goodwill, net, end of period | 661,978 | |
Calvin Klein International [Member]
|
||
Goodwill [Roll Forward] | ||
Goodwill, gross, beginning of period | 201,542 | |
Accumulated impairment losses, beginning of period | 0 | |
Goodwill, net, beginning of period | 201,542 | |
Contingent purchase price payments to Mr. Calvin Klein | 9,316 | |
Currency translation | (23,954) | |
Goodwill, gross, end of period | 1,065,690 | |
Accumulated impairment losses, end of period | 0 | |
Goodwill, net, end of period | 1,065,690 | |
Tommy Hilfiger North America [Member]
|
||
Goodwill [Roll Forward] | ||
Goodwill, gross, beginning of period | 198,501 | |
Accumulated impairment losses, beginning of period | 0 | |
Goodwill, net, beginning of period | 198,501 | |
Contingent purchase price payments to Mr. Calvin Klein | 0 | |
Currency translation | 0 | |
Goodwill, gross, end of period | 198,501 | |
Accumulated impairment losses, end of period | 0 | |
Goodwill, net, end of period | 198,501 | |
Tommy Hilfiger International [Member]
|
||
Goodwill [Roll Forward] | ||
Goodwill, gross, beginning of period | 1,196,619 | |
Accumulated impairment losses, beginning of period | 0 | |
Goodwill, net, beginning of period | 1,196,619 | |
Contingent purchase price payments to Mr. Calvin Klein | 0 | |
Currency translation | (38,715) | |
Goodwill, gross, end of period | 1,157,904 | |
Accumulated impairment losses, end of period | 0 | |
Goodwill, net, end of period | 1,157,904 | |
Heritage Brands Wholesale [Member]
|
||
Goodwill [Roll Forward] | ||
Goodwill, gross, beginning of period | 155,142 | |
Accumulated impairment losses, beginning of period | 0 | |
Goodwill, net, beginning of period | 155,142 | |
Contingent purchase price payments to Mr. Calvin Klein | 0 | |
Currency translation | (487) | |
Goodwill, gross, end of period | 283,929 | |
Accumulated impairment losses, end of period | 0 | |
Goodwill, net, end of period | 283,929 | |
Warnaco [Member] | Calvin Klein North America [Member]
|
||
Goodwill [Roll Forward] | ||
Goodwill from acquisition of Warnaco | 443,419 | |
Warnaco [Member] | Calvin Klein International [Member]
|
||
Goodwill [Roll Forward] | ||
Goodwill from acquisition of Warnaco | 878,786 | |
Warnaco [Member] | Tommy Hilfiger North America [Member]
|
||
Goodwill [Roll Forward] | ||
Goodwill from acquisition of Warnaco | 0 | |
Warnaco [Member] | Tommy Hilfiger International [Member]
|
||
Goodwill [Roll Forward] | ||
Goodwill from acquisition of Warnaco | 0 | |
Warnaco [Member] | Heritage Brands Wholesale [Member]
|
||
Goodwill [Roll Forward] | ||
Goodwill from acquisition of Warnaco | $ 129,274 |
X | ||||||||||
- Definition
Basis for calculating contingent purchase price payments. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS Intangible Assets (Details) (USD $)
In Thousands, unless otherwise specified |
6 Months Ended | ||
---|---|---|---|
Aug. 04, 2013
|
Jul. 29, 2012
|
Feb. 03, 2013
|
|
Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | $ 1,029,640 | $ 212,011 | $ 233,455 |
Finite-Lived Intangible Assets, Accumulated Amortization | (192,039) | (72,853) | (79,301) |
Finite-Lived Intangible Assets, Net | 837,601 | 139,158 | 154,154 |
Indefinite-Lived Intangible Assets, Gross, Excluding Goodwill | 3,194,717 | 2,344,585 | 2,426,851 |
Indefinite-Lived Intangible Assets, Accumulated Amortization | 0 | 0 | 0 |
Indefinite-Lived Intangible Assets (Excluding Goodwill) | 3,194,717 | 2,344,585 | 2,426,851 |
Intangible Assets, Gross (Excluding Goodwill) | 4,224,357 | 2,556,596 | 2,660,306 |
Intangible Assets, Accumulated Amortization | (192,039) | (72,853) | (79,301) |
Intangible Assets, Net (Excluding Goodwill) | 4,032,318 | 2,483,743 | 2,581,005 |
Amortization of Intangible Assets | 112,738 | 6,454 | |
Finite-Lived Intangible Assets, Future Amortization Expense [Abstract] | |||
Remainder of 2013 | 28,951 | ||
2014 | 44,823 | ||
2015 | 44,482 | ||
2016 | 44,482 | ||
2017 | 44,482 | ||
2018 | 44,482 | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 27 years 8 months 12 days | ||
Tradenames [Member]
|
|||
Intangible Assets [Line Items] | |||
Indefinite-Lived Intangible Assets, Gross, Excluding Goodwill | 2,975,764 | 2,332,811 | 2,413,809 |
Indefinite-Lived Intangible Assets, Accumulated Amortization | 0 | 0 | 0 |
Indefinite-Lived Intangible Assets (Excluding Goodwill) | 2,975,764 | 2,332,811 | 2,413,809 |
Perpetual License Rights [Member]
|
|||
Intangible Assets [Line Items] | |||
Indefinite-Lived Intangible Assets, Gross, Excluding Goodwill | 206,336 | 0 | 0 |
Indefinite-Lived Intangible Assets, Accumulated Amortization | 0 | 0 | 0 |
Indefinite-Lived Intangible Assets (Excluding Goodwill) | 206,336 | 0 | 0 |
Reacquired Perpetual License Rights [Member]
|
|||
Intangible Assets [Line Items] | |||
Indefinite-Lived Intangible Assets, Gross, Excluding Goodwill | 12,617 | 11,774 | 13,042 |
Indefinite-Lived Intangible Assets, Accumulated Amortization | 0 | 0 | 0 |
Indefinite-Lived Intangible Assets (Excluding Goodwill) | 12,617 | 11,774 | 13,042 |
Customer Relationships [Member]
|
|||
Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 10 years | ||
Finite-Lived Intangible Assets, Gross | 333,064 | 171,583 | 190,383 |
Finite-Lived Intangible Assets, Accumulated Amortization | (54,411) | (35,213) | (41,158) |
Finite-Lived Intangible Assets, Net | 278,653 | 136,370 | 149,225 |
Covenants Not to Compete [Member]
|
|||
Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 2,220 | 2,220 | 2,220 |
Finite-Lived Intangible Assets, Accumulated Amortization | (2,220) | (2,190) | (2,220) |
Finite-Lived Intangible Assets, Net | 0 | 30 | 0 |
Order Backlog [Member]
|
|||
Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 6 months | ||
Finite-Lived Intangible Assets, Gross | 128,196 | 32,287 | 32,287 |
Finite-Lived Intangible Assets, Accumulated Amortization | (122,504) | (32,287) | (32,287) |
Finite-Lived Intangible Assets, Net | 5,692 | 0 | 0 |
Reacquired License Rights [Member]
|
|||
Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 33 years | ||
Finite-Lived Intangible Assets, Gross | 566,160 | 5,921 | 8,565 |
Finite-Lived Intangible Assets, Accumulated Amortization | (12,904) | (3,163) | (3,636) |
Finite-Lived Intangible Assets, Net | $ 553,256 | $ 2,758 | $ 4,929 |
X | ||||||||||
- Definition
Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with an indefinite life. No definition available.
|
X | ||||||||||
- Definition
Gross carrying amount of assets that lack physical substance, excluding goodwill, having a projected indefinite period of benefit. No definition available.
|
X | ||||||||||
- Definition
Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with both finite and infinite lives. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
RETIREMENT AND BENEFIT PLANS (Details) (USD $)
In Thousands, unless otherwise specified |
6 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 04, 2013
|
Jul. 29, 2012
|
Feb. 02, 2014
|
Feb. 03, 2013
|
Aug. 04, 2013
Pension Plans, Defined Benefit [Member]
plans
|
Jul. 29, 2012
Pension Plans, Defined Benefit [Member]
|
Aug. 04, 2013
Pension Plans, Defined Benefit [Member]
plans
|
Jul. 29, 2012
Pension Plans, Defined Benefit [Member]
|
Aug. 04, 2013
SERP Plans [Member]
plans
|
Jul. 29, 2012
SERP Plans [Member]
|
Aug. 04, 2013
SERP Plans [Member]
plans
|
Jul. 29, 2012
SERP Plans [Member]
|
Aug. 04, 2013
Other Postretirement Benefit Plans, Defined Benefit [Member]
plans
|
Jul. 29, 2012
Other Postretirement Benefit Plans, Defined Benefit [Member]
|
Aug. 04, 2013
Other Postretirement Benefit Plans, Defined Benefit [Member]
plans
|
Jul. 29, 2012
Other Postretirement Benefit Plans, Defined Benefit [Member]
|
May 05, 2013
Warnaco acquisition [Member]
|
|
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||||||||||||||||
Number of plans | 6 | 6 | 3 | 3 | 2 | 2 | |||||||||||
Vesting Period Non-Contributory Defined Benefit Pension Plans | 5 | ||||||||||||||||
Current Executives Covered By Capital Accumulation Program | 2 | ||||||||||||||||
Retired Executives Covered By Capital Accumulation Program | 15 | ||||||||||||||||
Plan Benefit Payment Activation Age | 65 | ||||||||||||||||
Plan Benefit Payment Period | 10 years | ||||||||||||||||
Minimum Number of Years of Employment | 10 years | 10 years | |||||||||||||||
Minimum Age Prior to Employment Termination | 55 | ||||||||||||||||
Percentage of corridor for determining minimum amount of amortization of actuarial gain or loss | 10.00% | ||||||||||||||||
Service cost, including plan expenses | $ 4,823 | $ 4,011 | $ 9,420 | $ 7,865 | $ 1,119 | $ 814 | $ 2,169 | $ 1,787 | $ 14 | $ 0 | $ 40 | $ 0 | |||||
Interest cost | 6,528 | 4,530 | 13,067 | 8,986 | 953 | 827 | 1,810 | 1,673 | 207 | 181 | 429 | 399 | |||||
Expected return on plan assets | (9,658) | (5,254) | (19,528) | (10,476) | |||||||||||||
Amortization of prior service cost (credit) | 2 | 1 | 3 | 2 | (17) | (16) | (34) | (33) | (204) | (204) | (408) | (408) | |||||
Total | 1,695 | 3,288 | 2,962 | 6,377 | 2,055 | 1,625 | 3,945 | 3,427 | 17 | (23) | 61 | (9) | |||||
Pension Contributions | $ 30,000 | $ 7,489 | $ 60,000 | $ 30,000 |
X | ||||||||||
- Definition
Current Executives Covered By Capital Accumulation Program No definition available.
|
X | ||||||||||
- Definition
The minimum age (years) prior to termination for associates for whom benefits were not eliminated. No definition available.
|
X | ||||||||||
- Definition
The minimum number of years of employment prior to termination for associates for whom benefits were not eliminated. No definition available.
|
X | ||||||||||
- Definition
The number of benefit plans for the entity. No definition available.
|
X | ||||||||||
- Definition
Percentage of corridor for determining minimum amount of amortization of actuarial gain/loss, calculated based on greater of beginning of year projected benefit obligation or market-related value of assets. No definition available.
|
X | ||||||||||
- Definition
The minimum age that CAP plan participants will start receiving predetermined amounts under the plan, provided that prior to termination they have been participants in the plan for 10 years and have attained age 55. No definition available.
|
X | ||||||||||
- Definition
The number of years over which the CAP benefits are payable to the participating plan beneficiaries, who have met all other conditions. No definition available.
|
X | ||||||||||
- Definition
Represents the number of retired executives that are covered by the Capital Accumulation Program (CAP). No definition available.
|
X | ||||||||||
- Definition
Represents the minimum vesting period for the pension plans. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
DEBT DEBT Yen-Denominated Overdraft Facility (Details) (Line of credit, Yen-denominated facility [Member])
In Thousands, unless otherwise specified |
6 Months Ended | |
---|---|---|
Aug. 04, 2013
USD ($)
|
Aug. 04, 2013
JPY (¥)
|
|
Line of Credit Facility [Line Items] | ||
Line of credit facility, maximum borrowing capacity | $ 10,000 | ¥ 1,000,000 |
Debt instrument, basis spread on variable rate | 0.15% | |
Maximum amount of borrowings outstanding during the period | $ 10,000 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
DEBT DEBT Warnaco Notes Payable (Details) (European short-term revolving notes [Member], USD $)
In Thousands, unless otherwise specified |
6 Months Ended |
---|---|
Aug. 04, 2013
|
|
European short-term revolving notes [Member]
|
|
Short-term Debt [Line Items] | |
Notes payable, current | $ 2,147 |
Short-term debt, weighted average interest rate | 2.94% |
Maximum amount of borrowings outstanding during the period | $ 25,300 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
DEBT DEBT India Revolving Credit Facility (Details) (Line of credit, India facility [Member])
In Thousands, unless otherwise specified |
3 Months Ended | |
---|---|---|
Aug. 04, 2013
USD ($)
|
Aug. 04, 2013
INR
|
|
Line of Credit Facility [Line Items] | ||
Line of credit facility, maximum borrowing capacity | $ 3,200 | 195,000 |
Line of credit facility, amount outstanding | 1,300 | |
Short-term debt, weighted average interest rate | 10.44% | |
Maximum amount of borrowings outstanding during the period | $ 2,600 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
DEBT DEBT Asia Revolving Credit Facility (Details) (Line of credit, Asia facility [Member], USD $)
In Thousands, unless otherwise specified |
6 Months Ended |
---|---|
Aug. 04, 2013
|
|
Line of credit, Asia facility [Member]
|
|
Line of Credit Facility [Line Items] | |
Line of credit facility, maximum borrowing capacity | $ 10,000 |
Debt instrument, basis spread on variable rate | 1.75% |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
DEBT DEBT Korea Revolving Credit Facility (Details) (Line of credit, Korea facility [Member])
In Thousands, unless otherwise specified |
Aug. 04, 2013
USD ($)
|
Aug. 04, 2013
KRW
|
---|---|---|
Line of Credit Facility [Line Items] | ||
Line of credit facility, maximum borrowing capacity | $ 2,700 | 3,000,000 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
DEBT DEBT Brazil Revolving Credit Facility (Details) (Line of credit, Brazil facility [Member])
In Thousands, unless otherwise specified |
Aug. 04, 2013
USD ($)
|
Aug. 04, 2013
BRL
|
---|---|---|
Line of Credit Facility [Line Items] | ||
Line of credit facility, maximum borrowing capacity | $ 19,000 | 44,000 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
DEBT Schedule of Long Term Debt Instruments (Details)
In Thousands, unless otherwise specified |
0 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | 0 Months Ended | 6 Months Ended | 0 Months Ended | 6 Months Ended | 0 Months Ended | 6 Months Ended | 0 Months Ended | |||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Feb. 13, 2013
USD ($)
|
Aug. 04, 2013
USD ($)
|
May 05, 2013
USD ($)
|
Feb. 03, 2013
USD ($)
|
Jul. 29, 2012
USD ($)
|
Aug. 04, 2013
USD ($)
|
Jul. 29, 2012
USD ($)
|
Feb. 03, 2013
USD ($)
|
Aug. 01, 2010
USD ($)
|
Jun. 06, 2011
Interest Rate Swap [Member]
USD ($)
|
Feb. 13, 2013
Term loan A facility Warnaco [Member]
USD ($)
|
Feb. 13, 2013
Term loan B facility Warnaco [Member]
USD ($)
|
Feb. 13, 2013
Current Outstanding Senior Secured Credit Facilities [Member]
USD ($)
|
Aug. 04, 2013
Current Outstanding Senior Secured Credit Facilities [Member]
Interest Rate Swap [Member]
USD ($)
|
Feb. 13, 2013
Previously Outstanding Senior Secured Credit Facilities Due 2016 [Member]
USD ($)
|
Mar. 02, 2011
Previously Outstanding Senior Secured Credit Facilities Due 2016 [Member]
USD ($)
|
Aug. 04, 2013
Previously Outstanding Senior Secured Credit Facilities Due 2016 [Member]
Interest Rate Swap [Member]
USD ($)
|
Aug. 04, 2013
7 3/4% debentures [Member]
USD ($)
|
Feb. 13, 2013
United States of America, Dollars
USD ($)
|
Feb. 13, 2013
United States of America, Dollars
Term loan A facility Warnaco [Member]
USD ($)
|
Feb. 13, 2013
United States of America, Dollars
Term loan B facility Warnaco [Member]
USD ($)
|
Aug. 04, 2013
United States of America, Dollars
Term loan B facility Warnaco [Member]
Eurocurrency rate loan [Member]
Minimum [Member]
|
Aug. 04, 2013
United States of America, Dollars
Term loan B facility Warnaco [Member]
One month adjusted Eurocurrency rate loan [Member]
Minimum [Member]
|
Feb. 13, 2013
United States Dollars and Canadian Dollars [Member]
USD ($)
|
Feb. 03, 2013
United States Dollars and Canadian Dollars [Member]
|
Feb. 13, 2013
Euro Member Countries, Euro
EUR (€)
|
Feb. 03, 2013
Multi-currency [Member]
|
Aug. 04, 2013
Line of Credit [Member]
United States of America, Dollars
Unites States federal fund rate [Member]
|
Aug. 04, 2013
Line of Credit [Member]
United States of America, Dollars
One month adjusted Eurocurrency rate loan [Member]
|
Aug. 04, 2013
Line of Credit [Member]
Canadian dollars [Member]
|
Feb. 13, 2013
Term Loan [Member]
USD ($)
|
Aug. 04, 2013
Term Loan [Member]
United States of America, Dollars
Term loan A facility Warnaco [Member]
Base rate loan [Member]
|
Aug. 04, 2013
Term Loan [Member]
United States of America, Dollars
Term loan A facility Warnaco [Member]
Eurocurrency rate loan [Member]
|
Aug. 04, 2013
Term Loan [Member]
United States of America, Dollars
Term loan B facility Warnaco [Member]
Base rate loan [Member]
|
Aug. 04, 2013
Term Loan [Member]
United States of America, Dollars
Term loan B facility Warnaco [Member]
Eurocurrency rate loan [Member]
|
Feb. 13, 2013
Senior notes [Member]
USD ($)
|
Aug. 04, 2013
Senior notes [Member]
4 1/2% senior notes [Member]
|
Aug. 04, 2013
Senior notes [Member]
7 3/8% senior notes [Member]
|
Feb. 13, 2013
Warnaco acquisition [Member]
USD ($)
|
|
Senior Secured Credit Facilities [Abstract] | |||||||||||||||||||||||||||||||||||||||
Amended facility, overall maximum borrowing capacity | $ 1,970,000 | ||||||||||||||||||||||||||||||||||||||
Amended facility, maximum borrowing capacity, term loans | 1,520,000 | ||||||||||||||||||||||||||||||||||||||
Number of revolving credit facilities | 1 | 2 | |||||||||||||||||||||||||||||||||||||
Line of credit facility, maximum borrowing capacity | 750,000 | 450,000 | 475,000 | 25,000 | 185,850 | ||||||||||||||||||||||||||||||||||
Proceeds from issuance of long-term debt | 700,000 | 700,000 | 1,700,000 | 1,375,000 | 3,075 | ||||||||||||||||||||||||||||||||||
Original issue discount | 7,325 | 6,875 | |||||||||||||||||||||||||||||||||||||
Payments of financing costs | 67,370 | ||||||||||||||||||||||||||||||||||||||
Debt modification and extinguishment costs | 0 | 0 | 40,395 | 0 | 34,638 | ||||||||||||||||||||||||||||||||||
Deferred debt issuance costs | 5,757 | 5,757 | |||||||||||||||||||||||||||||||||||||
Letters of credit outstanding, amount | 79,105 | 79,105 | |||||||||||||||||||||||||||||||||||||
Term loan facility increase, maximum | 750,000 | ||||||||||||||||||||||||||||||||||||||
Term loan facility increase, maximum ratio | 1,250,000 | ||||||||||||||||||||||||||||||||||||||
Total outstanding senior secured credit facility | 2,880,499 | 2,880,499 | |||||||||||||||||||||||||||||||||||||
Debt instrument, basis spread on variable rate | 0.50% | 1.00% | 1.00% | 2.00% | 1.50% | 2.50% | |||||||||||||||||||||||||||||||||
Debt instrument, interest rate, stated percentage | 4.50% | 4.50% | 7.75% | 0.75% | 1.75% | 0.75% | 4.50% | 7.375% | |||||||||||||||||||||||||||||||
Notional amount outstanding of foreign currency forward exchange contracts | 632,000 | 1,228,750 | 436,608 | ||||||||||||||||||||||||||||||||||||
Derivative, fixed interest rate | 0.604% | 1.197% | |||||||||||||||||||||||||||||||||||||
Payment of fees associated with issuance of senior notes | 16,257 | 0 | 32,732 | 16,257 | |||||||||||||||||||||||||||||||||||
Gross proceeds from issuance of long-term debt | 600,000 | ||||||||||||||||||||||||||||||||||||||
Maximum redemption percentage | 35.00% | ||||||||||||||||||||||||||||||||||||||
Debt instrument, face amount | $ 100,000 | ||||||||||||||||||||||||||||||||||||||
Debt instrument, yield to maturity | 7.80% | ||||||||||||||||||||||||||||||||||||||
Derivative agreement term | 3 years | 3 years | |||||||||||||||||||||||||||||||||||||
Carry forward period revolving credit facility | 1 month | ||||||||||||||||||||||||||||||||||||||
Cost of funds index rate period | 3 months | ||||||||||||||||||||||||||||||||||||||
Carry forward period borrowings maximum | 1 year | ||||||||||||||||||||||||||||||||||||||
Won-denominated short term credit facility lender | 1 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
Represents the maximum borrowing capacity under the amended facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. No definition available.
|
X | ||||||||||
- Definition
Represents the maximum borrowing capacity of term loans under the amended facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. No definition available.
|
X | ||||||||||
- Definition
-- None. No documentation exists for this element. -- No definition available.
|
X | ||||||||||
- Definition
-- None. No documentation exists for this element. -- No definition available.
|
X | ||||||||||
- Definition
-- None. No documentation exists for this element. -- No definition available.
|
X | ||||||||||
- Definition
Debt instrument, redemption percentage, maximum No definition available.
|
X | ||||||||||
- Definition
Amount represents 1) costs incurred in the modification of term of existing debt agreement, including a loss to write-off previously capitalized debt issuance costs, or 2) the difference between the fair value of payments made and the carrying amount of the debt at time of extinguishment. No definition available.
|
X | ||||||||||
- Definition
derivative agreement term No definition available.
|
X | ||||||||||
- Definition
The gross proceeds from issuance of long-term debt. No definition available.
|
X | ||||||||||
- Definition
Number of revolving credit facilities No definition available.
|
X | ||||||||||
- Definition
-- None. No documentation exists for this element. -- No definition available.
|
X | ||||||||||
- Definition
The maximum increase of term loan facilities. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
Total Outstanding Senior Secured Credit Facility No definition available.
|
X | ||||||||||
- Definition
Won Denominated Short Term Credit Facility Lender No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
DEBT Schedule of Mandatory Long-Term Debt Repayments (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | 12 Months Ended | 0 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Feb. 03, 2013
|
Aug. 04, 2013
|
Jul. 29, 2012
|
Feb. 03, 2013
|
Aug. 04, 2013
7 3/4% debentures [Member]
|
Aug. 04, 2013
Senior notes [Member]
7 3/8% senior notes [Member]
|
Aug. 04, 2013
United States dollar-denominated
|
Jul. 29, 2012
United States dollar-denominated
|
Feb. 13, 2013
United States dollar-denominated
Term loan A facility Warnaco [Member]
|
Feb. 13, 2013
United States dollar-denominated
Term loan B facility Warnaco [Member]
|
Aug. 04, 2013
Euro-denominated
|
Jul. 29, 2012
Euro-denominated
|
|
Debt Instrument [Line Items] | ||||||||||||
Mandatory Long Term Debt Repayment Remainder of 2013 | $ 42,500 | |||||||||||
Mandatory Long Term Debt Repayment 2014 | 85,000 | |||||||||||
Mandatory Long Term Debt Repayment 2015 | 116,875 | |||||||||||
Mandatory Long Term Debt Repayment 2016 | 159,375 | |||||||||||
Mandatory Long Term Debt Repayment 2017 | 170,000 | |||||||||||
Mandatory Long Term Debt Repayment 2018 | 1,105,000 | |||||||||||
Proceeds from issuance of long-term debt | 700,000 | 700,000 | 1,700,000 | 1,375,000 | ||||||||
Total debt percentage bearing fixed interest rates | 45.00% | |||||||||||
Total debt percentage bearing fixed interest rates due to swap agreement | 0 | |||||||||||
Senior secured term loan A facility due 2018 | 1,672,297 | 0 | ||||||||||
Senior secured term loan B facility due 2020 | 1,208,202 | 0 | ||||||||||
4 1/2% senior unsecured notes | 700,000 | 0 | ||||||||||
7 3/8% senior unsecured notes | 600,000 | 600,000 | ||||||||||
7 3/4% debentures | 99,652 | 99,631 | ||||||||||
Senior secured term loan A facility due 2016 - United States dollar-denominated | 0 | 592,000 | 0 | 98,844 | ||||||||
Senior secured term loan B facility due 2016 - United States dollar-denominated | 0 | 395,000 | 0 | 18,010 | ||||||||
Total | 4,280,151 | 1,803,485 | ||||||||||
Less: Current portion of long-term debt | 88,000 | 85,000 | 88,021 | 88,000 | ||||||||
Long-Term Debt | 2,211,642 | 4,195,151 | 1,715,464 | 2,211,642 | ||||||||
Debt instrument, interest rate, stated percentage | 4.50% | 7.75% | 7.375% | |||||||||
Maturities of Long-term Debt [Abstract] | ||||||||||||
Repayment of long term debt | $ 181,688 | $ 89,680 |
X | ||||||||||
- Definition
Represents balance of debentures 7 3/4% due 2023. No definition available.
|
X | ||||||||||
- Definition
Mandatory Long Term Debt Repayment 2014 No definition available.
|
X | ||||||||||
- Definition
Mandatory Long Term Debt Repayment 2015 No definition available.
|
X | ||||||||||
- Definition
Mandatory Long Term Debt Repayment 2016 No definition available.
|
X | ||||||||||
- Definition
Mandatory Long Term Debt Repayment 2017 No definition available.
|
X | ||||||||||
- Definition
Mandatory Long Term Debt Repayment 2018 No definition available.
|
X | ||||||||||
- Definition
Mandatory Long Term Debt Repayment Remainder of 2013 No definition available.
|
X | ||||||||||
- Definition
Represents the balance of the senior secured term loan B facility due 2016. No definition available.
|
X | ||||||||||
- Definition
Represents the balance of the senior secured term loan B facility due 2018. No definition available.
|
X | ||||||||||
- Definition
Represents the balance of the senior secured term loan A facility due 2016. No definition available.
|
X | ||||||||||
- Definition
Represents the balance of the senior secured term loan A facility due 2018. No definition available.
|
X | ||||||||||
- Definition
Represents the balance of senior unsecured 7 3/8% notes due 2020. No definition available.
|
X | ||||||||||
- Definition
Represents the balance of senior unsecured 4 1/2% notes due 2022 No definition available.
|
X | ||||||||||
- Definition
Represents the percentage of total debt bearing fixed interest rates. No definition available.
|
X | ||||||||||
- Definition
Represents the percentage of total debt bearing fixed interest rates as a result of the new swap agreement commencing on August 19, 2013. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
INCOME TAXES (Details)
|
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Aug. 04, 2013
|
Jul. 29, 2012
|
Aug. 04, 2013
|
Jul. 29, 2012
|
|
Income Taxes [Abstract] | ||||
Income Tax Rate | 161.10% | 28.00% | (174.00%) | 26.40% |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
DERIVATIVE FINANCIAL INSTRUMENTS (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Aug. 04, 2013
|
Jul. 29, 2012
|
Aug. 04, 2013
|
Jul. 29, 2012
|
|
Derivative [Line Items] | ||||
Other comprehensive (loss) income before reclassifications, net unrealized and realized (loss) gain on effective hedges | $ 9,503 | |||
Other Current Assets and Other Assets [Member]
|
||||
Derivative [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 6,220 | 18,873 | 6,220 | 18,873 |
Accrued Expenses and Other Liabilities [Member]
|
||||
Derivative [Line Items] | ||||
Derivative Liability, Fair Value, Gross Liability | 13,204 | 8,244 | 13,204 | 8,244 |
Foreign Exchange Forward Inventory Purchases [Member]
|
||||
Derivative [Line Items] | ||||
Notional amount outstanding of foreign currency forward exchange contracts | 422,000 | 422,000 | ||
Foreign Exchange Forward Intercompany Loans [Member]
|
||||
Derivative [Line Items] | ||||
Notional amount outstanding of foreign currency forward exchange contracts | 80,000 | 80,000 | ||
Designated as Hedging Instrument [Member] | Other Current Assets and Other Assets [Member]
|
||||
Derivative [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 5,542 | 18,873 | 5,542 | 18,873 |
Designated as Hedging Instrument [Member] | Accrued Expenses and Other Liabilities [Member]
|
||||
Derivative [Line Items] | ||||
Derivative Liability, Fair Value, Gross Liability | 12,328 | 7,595 | 12,328 | 7,595 |
Designated as Hedging Instrument [Member] | Foreign Exchange Forward Inventory Purchases [Member] | Other Current Assets and Other Assets [Member]
|
||||
Derivative [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 1,432 | 18,828 | 1,432 | 18,828 |
Designated as Hedging Instrument [Member] | Foreign Exchange Forward Inventory Purchases [Member] | Accrued Expenses and Other Liabilities [Member]
|
||||
Derivative [Line Items] | ||||
Derivative Liability, Fair Value, Gross Liability | 4,231 | 866 | 4,231 | 866 |
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Other Current Assets and Other Assets [Member]
|
||||
Derivative [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 4,110 | 45 | 4,110 | 45 |
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Accrued Expenses and Other Liabilities [Member]
|
||||
Derivative [Line Items] | ||||
Derivative Liability, Fair Value, Gross Liability | 8,097 | 6,729 | 8,097 | 6,729 |
Not Designated as Hedging Instrument [Member] | Other Current Assets and Other Assets [Member]
|
||||
Derivative [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 678 | 0 | 678 | 0 |
Not Designated as Hedging Instrument [Member] | Accrued Expenses and Other Liabilities [Member]
|
||||
Derivative [Line Items] | ||||
Derivative Liability, Fair Value, Gross Liability | 876 | 649 | 876 | 649 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward Inventory Purchases [Member] | Other Current Assets and Other Assets [Member]
|
||||
Derivative [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 282 | 0 | 282 | 0 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward Inventory Purchases [Member] | Accrued Expenses and Other Liabilities [Member]
|
||||
Derivative [Line Items] | ||||
Derivative Liability, Fair Value, Gross Liability | 109 | 538 | 109 | 538 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward Intercompany Loans [Member] | Other Current Assets and Other Assets [Member]
|
||||
Derivative [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 396 | 0 | 396 | 0 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward Intercompany Loans [Member] | Accrued Expenses and Other Liabilities [Member]
|
||||
Derivative [Line Items] | ||||
Derivative Liability, Fair Value, Gross Liability | 767 | 111 | 767 | 111 |
Cost of Goods Sold [Member] | Foreign Exchange Contract [Member]
|
||||
Derivative [Line Items] | ||||
Derivative Instruments, (Gain) Loss Reclassification from Accumulated OCI to Income, Estimated Net Amount to be Transferred | (2,413) | |||
Cost of Goods Sold [Member] | Foreign Exchange Forward [Member]
|
||||
Derivative [Line Items] | ||||
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimate of Time to Transfer | 12 months | |||
Interest Expense [Member] | Interest Rate Contract [Member]
|
||||
Derivative [Line Items] | ||||
Derivative Instruments, (Gain) Loss Reclassification from Accumulated OCI to Income, Estimated Net Amount to be Transferred | 6,601 | |||
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimate of Time to Transfer | 12 months | |||
Selling, General and Administrative Expenses [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward Inventory Purchases [Member]
|
||||
Derivative [Line Items] | ||||
Derivative Instruments Not Designated as Hedging Instruments, (Loss) Gain, Net | 661 | (190) | 349 | 679 |
Selling, General and Administrative Expenses [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward Intercompany Loans [Member]
|
||||
Derivative [Line Items] | ||||
Derivative Instruments Not Designated as Hedging Instruments, (Loss) Gain, Net | (285) | (1,224) | (38) | (1,224) |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member]
|
||||
Derivative [Line Items] | ||||
Other comprehensive (loss) income before reclassifications, net unrealized and realized (loss) gain on effective hedges | 835 | 5,630 | 9,484 | 3,914 |
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Expense (Effective Portion) | (1,303) | (91) | 724 | 1,451 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Forward Inventory Purchases [Member]
|
||||
Derivative [Line Items] | ||||
Other comprehensive (loss) income before reclassifications, net unrealized and realized (loss) gain on effective hedges | 1,732 | 6,592 | 10,590 | 4,916 |
Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contract [Member]
|
||||
Derivative [Line Items] | ||||
Other comprehensive (loss) income before reclassifications, net unrealized and realized (loss) gain on effective hedges | (897) | (962) | (1,106) | (1,002) |
Cash Flow Hedging [Member] | Cost of Goods Sold [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Forward Inventory Purchases [Member]
|
||||
Derivative [Line Items] | ||||
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Expense (Effective Portion) | (280) | 1,007 | 2,901 | 3,631 |
Cash Flow Hedging [Member] | Interest Expense [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contract [Member]
|
||||
Derivative [Line Items] | ||||
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Expense (Effective Portion) | $ (1,023) | $ (1,098) | $ (2,177) | $ (2,180) |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
FAIR VALUE MEASUREMENTS (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | |||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 04, 2013
|
Aug. 04, 2013
|
Jul. 29, 2012
|
Feb. 03, 2013
|
Jan. 29, 2012
|
Oct. 28, 2012
Tommy Hilfiger India License [Member]
|
Aug. 04, 2013
Tommy Hilfiger India License [Member]
|
Aug. 04, 2013
Tommy Hilfiger India License [Member]
Initial Term [Member]
|
Aug. 04, 2013
Tommy Hilfiger India License [Member]
Extended Term [Member]
|
Aug. 04, 2013
Tommy Hilfiger India License [Member]
Due Within [Member]
|
Aug. 04, 2013
Tommy Hilfiger India License [Member]
Period Length [Member]
|
Aug. 04, 2013
Fair Value, Inputs, Level 2 [Member]
|
Feb. 03, 2013
Fair Value, Inputs, Level 2 [Member]
|
Jul. 29, 2012
Fair Value, Inputs, Level 2 [Member]
|
Aug. 04, 2013
Fair Value, Inputs, Level 3 [Member]
|
Feb. 03, 2013
Fair Value, Inputs, Level 3 [Member]
|
Jul. 29, 2012
Fair Value, Inputs, Level 3 [Member]
|
Aug. 04, 2013
Portion at Fair Value, Fair Value Disclosure [Member]
|
Feb. 03, 2013
Portion at Fair Value, Fair Value Disclosure [Member]
|
Jul. 29, 2012
Portion at Fair Value, Fair Value Disclosure [Member]
|
Aug. 04, 2013
Carrying (Reported) Amount, Fair Value Disclosure [Member]
|
Feb. 03, 2013
Carrying (Reported) Amount, Fair Value Disclosure [Member]
|
Jul. 29, 2012
Carrying (Reported) Amount, Fair Value Disclosure [Member]
|
|
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||||||||||||||||||||
Foreign currency forward exchange contracts, assets | $ 2,110 | $ 2,110 | $ 18,828 | $ 4,693 | $ 2,110 | $ 4,693 | $ 18,828 | ||||||||||||||||
Interest rate contracts, assets | 4,110 | 4,110 | 45 | 4,110 | 45 | ||||||||||||||||||
Total Assets | 6,220 | 6,220 | 18,873 | 4,693 | 6,220 | 4,693 | 18,873 | ||||||||||||||||
Foreign currency forward exchange contracts, liabilities | 5,107 | 5,107 | 1,515 | 13,460 | 5,107 | 13,460 | 1,515 | ||||||||||||||||
Interest rate contracts, liabilities | 8,097 | 8,097 | 6,729 | 5,058 | 8,097 | 5,058 | 6,729 | ||||||||||||||||
Contingent purchase price payments related to reacquisition of the perpetual rights to the Tommy Hilfiger trademarks in India | 6,649 | 6,649 | 9,021 | 7,003 | 6,649 | 7,003 | 9,021 | ||||||||||||||||
Total Liabilities | 19,853 | 19,853 | 17,265 | 25,521 | 13,204 | 18,518 | 8,244 | 6,649 | 7,003 | 9,021 | |||||||||||||
Cash and cash equivalents | 628,920 | 892,209 | 261,986 | 628,920 | 892,209 | 261,986 | |||||||||||||||||
Short-term borrowings | 3,447 | 10,847 | 52,791 | 3,447 | 10,847 | 52,791 | |||||||||||||||||
Long-term debt (including portion classified as current) | 4,358,547 | 2,398,200 | 1,886,289 | 4,280,151 | 2,299,642 | 1,803,485 | |||||||||||||||||
Contingent Consideration Limit | 25,000 | ||||||||||||||||||||||
Contingent purchase price payments | 26,734 | 25,749 | 185 | ||||||||||||||||||||
Contingent Purchase Price Term | 5 years | 6 years | |||||||||||||||||||||
Contingent purchase price payment terms | 60 days | 1 year | |||||||||||||||||||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |||||||||||||||||||||||
Contingent purchase price payments, balance | 6,649 | 6,649 | 9,021 | 7,003 | 9,559 | ||||||||||||||||||
Payments | 0 | 0 | |||||||||||||||||||||
Adjustments included in earnings | (354) | (538) | |||||||||||||||||||||
Compounded Annual Net Sales Growth Rate | 45.00% | ||||||||||||||||||||||
Fair Value Inputs Discount Rate | 20.00% | ||||||||||||||||||||||
Effect of five-percentage-point decrease in discount rate on liability, increase of | 1,000 | ||||||||||||||||||||||
Effect of five-percentage-point increase or decrease on annual net sales growth rate | $ 1,000 |
X | ||||||||||
- Definition
Represents compounded annual net sales growth rate used as an input to measure fair value. No definition available.
|
X | ||||||||||
- Definition
Fair value of potential payments under contingent consideration arrangement. No definition available.
|
X | ||||||||||
- Definition
Maximum amount of potential cash payments that could result from the contingent consideration arrangement. No definition available.
|
X | ||||||||||
- Definition
Contingent purchase price payment terms No definition available.
|
X | ||||||||||
- Definition
Represents period covering contingent purchase price payments. No definition available.
|
X | ||||||||||
- Definition
Effect of a five-percentage-point increase or decrease in the discount rate on the liability. No definition available.
|
X | ||||||||||
- Definition
The effect of a five-percentage-point increase or decrease on the compounded annual net sales growth rate. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
STOCK-BASED COMPENSATION - STOCK OPTION ACTIVITY (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
0 Months Ended | 3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|---|
Feb. 13, 2013
|
Aug. 04, 2013
|
May 05, 2013
|
Aug. 04, 2013
|
Jul. 29, 2012
|
|
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Reduction in Number of Shares to Be Granted by Each Option Award | 1 | 1 | |||
Warnaco employee replacement stock awards | $ 39,752 | ||||
Stock-based compensation expense | 34,478 | 18,891 | |||
Assumptions used to estimate fair value of service-based stock options and performance share units [Abstract] | |||||
Expected term | 6 years 2 months 19 days | 6 years 3 months | |||
Contingently issuable performance share awards, performance period | 3 years | 2 years | |||
Contingently issuable performance share awards, service period | 1 year | ||||
Percentage of Final Number of Shares Based Upon the Company's Absolute Stock Price Growth | 50.00% | ||||
Percent of Final Number of Shares Based Upon the Company's Total Shareholder Return | 50.00% | ||||
Equity Option [Member]
|
|||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vesting installments | 4 | ||||
Beginning vesting term | one year after date of grant | ||||
Service-based stock option activity [Roll Forward] | |||||
Service-based stock options, outstanding, beginning of period | 1,958,000 | 1,958,000 | |||
Service-based stock options, replacement awards granted | 443,000 | ||||
Service-based stock options, granted | 182,000 | ||||
Service-based stock options, exercised | 381,000 | ||||
Service-based stock options, cancelled | 12,000 | ||||
Service-based stock options, outstanding, end of period | 2,190,000 | 2,190,000 | |||
Service-based stock options, exercisable | 1,511,000 | 1,511,000 | |||
Service-based stock options, outstanding, weighted average price per option, beginning of period | $ 44.17 | $ 44.17 | |||
Service-based stock options, replacement awards granted, weighted average price per option | $ 86.26 | ||||
Service-based stock options, granted, weighted average price per option | $ 117.03 | ||||
Service-based stock options, exercised, weighted average price per option | $ 64.43 | ||||
Service-based stock options, cancelled, weighted average price per option | $ 93.60 | ||||
Service-based stock options, outstanding, weighted average price per option, end of period | $ 54.95 | $ 54.95 | |||
Service-based stock options, exercisable, weighted average price per option | $ 42.83 | $ 42.83 | |||
Restricted Stock Units (RSUs) [Member]
|
|||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vesting installments | 3 | ||||
Beginning vesting term | three years after date of grant | ||||
Warnaco acquisition [Member]
|
|||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Warnaco employee replacement stock awards | $ 39,752 | $ 39,752 | |||
Assumptions used to estimate fair value of service-based stock options and performance share units [Abstract] | |||||
Expected term | 1 year 8 months 12 days | ||||
Warnaco acquisition [Member] | Equity Option [Member]
|
|||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vesting installments | 3 | ||||
Black-Scholes-Merton Model [Member]
|
|||||
Assumptions used to estimate fair value of service-based stock options and performance share units [Abstract] | |||||
Risk-free interest rate | 1.05% | 1.20% | |||
Expected Company volatility | 45.20% | 45.16% | |||
Expected annual dividends per share | $ 0.15 | $ 0.15 | |||
Estimated fair value per option | $ 51.51 | $ 40.59 | |||
Black-Scholes-Merton Model [Member] | Warnaco acquisition [Member]
|
|||||
Assumptions used to estimate fair value of service-based stock options and performance share units [Abstract] | |||||
Risk-free interest rate | 0.24% | ||||
Expected Company volatility | 29.40% | ||||
Expected annual dividends per share | $ 150.00 | ||||
Estimated fair value per option | $ 40,600.00 |
X | ||||||||||
- Definition
Percentage of final number of shares that will be earned based upon the Company's absolute stock price growth during the performance period. No definition available.
|
X | ||||||||||
- Definition
Percentage of final number of shares that will be earned based upon the Company's total shareholder return during the performance period relative to other companies included in the S&P 500 as of the date of grant. No definition available.
|
X | ||||||||||
- Definition
The reduction in the number of shares available to be granted with each grant of an option award. No definition available.
|
X | ||||||||||
- Definition
Issuance of replacement stock awards pertaining to employee stock-based compensation grants, issued in connection with the acquisition of Warnaco and included in the total acquisition consideration. No definition available.
|
X | ||||||||||
- Definition
Represents the number of vesting installments granted to employees. No definition available.
|
X | ||||||||||
- Definition
Share based Compensation Arrangement by Share based Payment Award, Award Beginning Vesting No definition available.
|
X | ||||||||||
- Definition
Estimated period beyond the performance period over which an employee is required to provide service in exchange for the equity-based payment award, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
X | ||||||||||
- Definition
Expected dividends per share included in fair value of service-based stock options assumptions No definition available.
|
X | ||||||||||
- Definition
Gross number of share options (or share units) granted during the period in connection with the Warnaco replacement awards. No definition available.
|
X | ||||||||||
- Definition
Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan (Warnaco replacement awards). No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
STOCK-BASED COMPENSATION - RSU, RESTRICTED STOCK AND PERFORMANCE SHARE ACTIVITY (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
6 Months Ended | |
---|---|---|
Aug. 04, 2013
Y
|
Jul. 29, 2012
|
|
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share Based Payment Award Maximum Term | 10 | |
Reduction in Number of Shares to be Granted by Each Stock Award | 2 | |
Reduction in number of shares available to be granted, RSU awards made before April 29, 2009 | 3 | |
Reduction in number of shares available to be granted, RSU awards made on or after April 29, 2009 | 2 | |
RSU vesting, granted to employees, first annual installment | 25.00% | |
RSU vesting, granted to employees, second annual installment | 25.00% | |
RSU vesting, granted to employees, third annual installment | 50.00% | |
First RSU Vesting Installments, Employees, Number of Years Following Grant Date | 2 | |
First RSU Vesting Installments, Nonemployee Directors, Number of Years Following Grant Date, Awards Prior to 2010 | 1 | |
Receipt of service-based RSU vesting period, non-employee directors, granted during or after 2010 | 1 | |
Non-vested activity [Roll Forward] | ||
Other than options, granted number | 498,000 | |
Tax benefits realized, stock plan awards | $ 45,554 | $ 12,606 |
Excess tax benefits reported, stock plan awards | $ 15,091 | $ 7,082 |
Restricted Stock Units (RSUs) [Member]
|
||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Service Based Award Vesting Installments, Employees | 3 | |
Service Based Award Vesting Installments, Non-Employee Directors | 4 | |
Non-vested activity [Roll Forward] | ||
Other than options, non-vested number, beginning of period | 660,000 | |
Other than options, replacement number | 120,000 | |
Other than options, granted number | 234,000 | |
Other than options, vested number | 244,000 | |
Other than options, cancelled number | 24,000 | |
Other than options, non-vested number, end of period | 746,000 | |
Other than options, non-vested, weighted average grant date fair value, beginning of period | $ 62.24 | |
Other than options, replacement awards, weighted average grant date fair value | $ 120.72 | |
Other than options, granted, weighted average grant date fair value | $ 119.06 | |
Other than options, vested, weighted average grant date fair value | $ 61.24 | |
Other than options, cancelled, weighted average grant date fair value | $ 79.78 | |
Other than options, non-vested, weighted average grant date fair value, end of period | $ 89.25 | |
Restricted Stock [Member]
|
||
Non-vested activity [Roll Forward] | ||
Other than options, non-vested number, beginning of period | 0 | |
Other than options, replacement number | 271,000 | |
Other than options, granted number | 0 | |
Other than options, vested number | 174,000 | |
Other than options, cancelled number | 8,000 | |
Other than options, non-vested number, end of period | 89,000 | |
Other than options, non-vested, weighted average grant date fair value, beginning of period | $ 0.00 | |
Other than options, replacement awards, weighted average grant date fair value | $ 120.72 | |
Other than options, granted, weighted average grant date fair value | $ 0.00 | |
Other than options, vested, weighted average grant date fair value | $ 120.72 | |
Other than options, cancelled, weighted average grant date fair value | $ 120.72 | |
Other than options, non-vested, weighted average grant date fair value, end of period | $ 120.72 | |
Performance Share [Member]
|
||
Non-vested activity [Roll Forward] | ||
Other than options, non-vested number, beginning of period | 594,000 | |
Other than options, granted number | 920,000 | |
Other than options, vested number | 498,000 | |
Other than options, cancelled number | 36,000 | |
Other than options, non-vested number, end of period | 980,000 | |
Other than options, non-vested, weighted average grant date fair value, beginning of period | $ 57.08 | |
Other than options, granted, weighted average grant date fair value | $ 122.57 | |
Other than options, vested, weighted average grant date fair value | $ 51.07 | |
Other than options, cancelled, weighted average grant date fair value | $ 122.45 | |
Other than options, non-vested, weighted average grant date fair value, end of period | $ 119.26 | |
Monte Carlo model [Member]
|
||
Assumptions used to estimate fair value of service-based stock options and performance share units [Abstract] | ||
Risk-free interest rate | 0.34% | |
Expected Company volatility | 38.67% | |
Expected annual dividends per share | $ 0.15 | |
Estimated fair value per option | $ 123.27 |
X | ||||||||||
- Definition
First RSU Vesting Installments, Employees, Number of Years Following Grant Date No definition available.
|
X | ||||||||||
- Definition
First RSU Vesting Installments, Nonemployee Directors, Number of Years Following Grant Date, Awards Prior to 2010 No definition available.
|
X | ||||||||||
- Definition
Represents the years after grant date at which time the individual begins to receive service-based RSU (granted during or after 2010) installments. No definition available.
|
X | ||||||||||
- Definition
The reduction in the number of shares available to be granted by each grant of an RSU award made prior to April 29, 2009. No definition available.
|
X | ||||||||||
- Definition
The reduction in the number of shares available to be granted by each grant of an RSU award made on or after April 29, 2009. No definition available.
|
X | ||||||||||
- Definition
The reduction in the number of shares available to be granted with each grant of a restricted stock award. No definition available.
|
X | ||||||||||
- Definition
Represents the number of vesting installments granted to employees. No definition available.
|
X | ||||||||||
- Definition
Represents the vesting installments granted to non-employee directors for service-based awards. No definition available.
|
X | ||||||||||
- Definition
Award term as to what percentage of an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, thereby giving the employee the legal right to convert the award to shares, to sell shares, and be entitled to the cash proceeds of such sale. No definition available.
|
X | ||||||||||
- Definition
Award term as to what percentage of an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, thereby giving the employee the legal right to convert the award to shares, to sell the shares, and be entitled to the cash proceeds of such sale. No definition available.
|
X | ||||||||||
- Definition
Award term as to what percentage of an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, thereby giving the employee the legal right to convert the award to shares, to sell shares, and be entitled to the cash proceeds of such sale. No definition available.
|
X | ||||||||||
- Definition
The number of replacement awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). No definition available.
|
X | ||||||||||
- Definition
Share Based Compensation Arrangement By Share Based Payment Award, Equity Instrument Other Than Options, Replacement Awards In Period, Weighted Average Grant Date Fair Value No definition available.
|
X | ||||||||||
- Definition
Expected dividends per share included in fair value of service-based stock options assumptions No definition available.
|
X | ||||||||||
- Definition
Description of the period of time over which awards are generally granted. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
ACCUMULATED OTHER COMPREHENSIVE INCOME CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Aug. 04, 2013
|
Jul. 29, 2012
|
Aug. 04, 2013
|
Jul. 29, 2012
|
Feb. 03, 2013
|
|
Balance, foreign currency translation adjustments | $ 4,629 | $ 4,629 | $ 153,648 | ||
Other comprehensive (loss) income before reclassifications, foreign currency translation adjustments | (149,019) | ||||
Amounts reclassified from AOCI, foreign currency translation adjustments | 0 | ||||
Balance, retirement liability adjustment | 1,281 | 1,281 | 1,552 | ||
Other comprehensive (loss) income before reclassifications, pension and postretirement plans | 0 | ||||
Amounts reclassified from AOCI, retirement liability adjustment | 135 | 271 | |||
Amortization of prior service credit related to pension and postretirement plans, net of tax | (135) | (135) | (271) | (271) | |
Balance, net unrealized and realized (loss) gain on effective hedges | (5,804) | (5,804) | (15,318) | ||
Other comprehensive (loss) income before reclassifications, net unrealized and realized (loss) gain on effective hedges | 9,503 | ||||
Amounts reclassified from AOCI, net unrealized and realized (loss) gain on effective hedges | (912) | (11) | |||
Net unrealized and realized gain on effective hedges, net of tax | 1,656 | 6,346 | 9,514 | 2,099 | |
Accumulated other comprehensive income (loss) | 106 | (57,524) | 106 | (57,524) | 139,882 |
Other Comprehensive Income (Loss), Before Reclassifications, Net of Tax | (139,516) | ||||
Amounts reclassified from AOCI, total | 260 | ||||
Other comprehensive (loss) income | $ (139,776) |
X | ||||||||||
- Definition
Amounts Reclassified from Accumulated Other Comprehensive Income (Loss), Net of Tax No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
ACCUMULATED OTHER COMPREHENSIVE INCOME RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended |
---|---|---|
Aug. 04, 2013
|
Aug. 04, 2013
|
|
Realized gain on effective hedges, tax benefit | $ (391) | $ 735 |
Amounts reclassified from AOCI, net unrealized and realized (loss) gain on effective hedges | (912) | (11) |
Amortization of retirement liability items | 219 | 439 |
Amortization of prior service credit related to pension and postretirement plan, tax benefit | 84 | 168 |
Amounts reclassified from AOCI, retirement liability adjustment | 135 | 271 |
Foreign Exchange Forward Inventory Purchases [Member]
|
||
Realized gain on effective hedges | (280) | 2,901 |
Interest Rate Contract [Member]
|
||
Realized gain on effective hedges | $ (1,023) | $ (2,177) |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
STOCKHOLDERS' EQUITY (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
0 Months Ended | 3 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|
Aug. 04, 2013
|
Feb. 03, 2013
|
Jul. 29, 2012
|
Feb. 13, 2013
Warnaco acquisition [Member]
|
May 05, 2013
Warnaco acquisition [Member]
|
Jul. 29, 2012
Series A Preferred Stock Issuance And Conversion [Member]
|
Apr. 29, 2012
Series A Preferred Stock Issuance And Conversion [Member]
|
Aug. 01, 2010
Series A Preferred Stock Issuance And Conversion [Member]
|
|
Business Acquisition [Line Items] | ||||||||
Business acquisition, equity interest issued or issuable, number of shares | 7,674,000 | 7,674,000 | ||||||
Common stock, par value (in dollars per share) | $ 1 | $ 1 | $ 1 | $ 1.00 | ||||
Preferred stock, shares issued (in shares) | 8,000 | |||||||
Net proceeds from preferred stock issuance | $ 188,595 | |||||||
Conversion of preferred stock, amount converted | $ 94,297 | |||||||
Conversion of preferred stock, shares converted | 4,000 | |||||||
Holders of Series A convertible preferred stock | 1 | 1 | ||||||
Total shares of common stock convertible preferred stock was converted into | 2,095,000 | 2,095,000 |
X | ||||||||||
- Definition
Holders Of Series A Convertible Preferred Stock No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
ACTIVITY EXIT COSTS (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended |
---|---|---|
Aug. 04, 2013
|
Aug. 04, 2013
|
|
Warnaco Acquisition and Integration Costs [Member]
|
||
Restructuring Cost and Reserve [Line Items] | ||
Total costs expected to be incurred | $ 255,000 | |
Total costs incurred | 44,128 | 131,832 |
Restructuring Reserve [Roll Forward] | ||
Total liability, end of period | 50,538 | 50,538 |
Tommy Hilfiger Integration and Exit Costs [Member]
|
||
Restructuring Cost and Reserve [Line Items] | ||
Total costs incurred | 0 | |
Restructuring Reserve [Roll Forward] | ||
Total liability, beginning of period | 2,776 | |
Total costs paid | 1,269 | |
Total liability, end of period | 1,507 | 1,507 |
Severance, termination benefits and other costs [Member] | Warnaco Acquisition and Integration Costs [Member]
|
||
Restructuring Cost and Reserve [Line Items] | ||
Total costs expected to be incurred | 175,000 | |
Total costs incurred | 40,839 | 97,952 |
Restructuring Reserve [Roll Forward] | ||
Total liability, end of period | 44,130 | 44,130 |
Severance, termination benefits and other costs [Member] | Tommy Hilfiger Integration and Exit Costs [Member]
|
||
Restructuring Cost and Reserve [Line Items] | ||
Total costs incurred | 0 | |
Restructuring Reserve [Roll Forward] | ||
Total liability, beginning of period | 763 | |
Total costs paid | 422 | |
Total liability, end of period | 341 | 341 |
Inventory liquidation costs[Member] | Warnaco Acquisition and Integration Costs [Member]
|
||
Restructuring Cost and Reserve [Line Items] | ||
Total costs expected to be incurred | 30,000 | |
Total costs incurred | 0 | 30,000 |
Restructuring Reserve [Roll Forward] | ||
Total liability, end of period | 5,035 | 5,035 |
Lease/contract termination and related costs [Member] | Warnaco Acquisition and Integration Costs [Member]
|
||
Restructuring Cost and Reserve [Line Items] | ||
Total costs expected to be incurred | 50,000 | |
Total costs incurred | 3,289 | 3,880 |
Restructuring Reserve [Roll Forward] | ||
Total liability, end of period | 1,373 | 1,373 |
Lease/contract termination and related costs [Member] | Tommy Hilfiger Integration and Exit Costs [Member]
|
||
Restructuring Cost and Reserve [Line Items] | ||
Total costs incurred | 0 | |
Restructuring Reserve [Roll Forward] | ||
Total liability, beginning of period | 2,013 | |
Total costs paid | 847 | |
Total liability, end of period | 1,166 | 1,166 |
Calvin Klein North America [Member] | Warnaco Acquisition and Integration Costs [Member]
|
||
Restructuring Cost and Reserve [Line Items] | ||
Total costs incurred | 23,544 | |
Calvin Klein International [Member] | Warnaco Acquisition and Integration Costs [Member]
|
||
Restructuring Cost and Reserve [Line Items] | ||
Total costs incurred | 39,733 | |
Heritage Brands Wholesale [Member] | Warnaco Acquisition and Integration Costs [Member]
|
||
Restructuring Cost and Reserve [Line Items] | ||
Total costs incurred | 12,463 | |
Unallocated amount to segment [Member] | Warnaco Acquisition and Integration Costs [Member]
|
||
Restructuring Cost and Reserve [Line Items] | ||
Total costs incurred | $ 26,092 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
NET INCOME PER COMMON SHARE (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Aug. 04, 2013
|
Jul. 29, 2012
|
Aug. 04, 2013
|
Jul. 29, 2012
|
|
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ||||
Net (loss) income attributable to PVH Corp. | $ (15,996) | $ 89,918 | $ (36,048) | $ 185,394 |
Common stock dividends paid to holders of Series A convertible preferred stock | 0 | 0 | 0 | (209) |
Allocation of income to Series A convertible preferred stock | 0 | (2,591) | 0 | (6,936) |
Net (loss) income available to common stockholders for basic net (loss) income per common share | $ (15,996) | $ 87,327 | $ (36,048) | $ 178,249 |
Weighted average common shares outstanding for basic net (loss) income per common share | 81,337 | 70,403 | 80,653 | 69,471 |
Weighted average impact of dilutive securities | 0 | 1,105 | 0 | 1,346 |
Weighted average impact of assumed convertible preferred stock conversion | 0 | 2,095 | 0 | 2,785 |
Total shares for diluted net (loss) income per common share | 81,337 | 73,603 | 80,653 | 73,602 |
Basic net (loss) income per common share attributable to PVH Corp. | $ (0.20) | $ 1.24 | $ (0.45) | $ 2.57 |
Diluted net (loss) income per common share attributable to PVH Corp. | $ (0.20) | $ 1.22 | $ (0.45) | $ 2.52 |
Weighted average potentially dilutive securities | 3,913 | 466 | 3,799 | 360 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
NET INCOME PER COMMON SHARE - DILUTED (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Aug. 04, 2013
|
Jul. 29, 2012
|
Aug. 04, 2013
|
Jul. 29, 2012
|
|
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ||||
Net (loss) income available to common stockholders for basic net (loss) income per common share (add back section) | $ (15,996) | $ 87,327 | $ (36,048) | $ 178,249 |
Common stock dividends paid to holders of Series A convertible preferred stock | 0 | 0 | 0 | 209 |
Allocation of income to Series A convertible preferred stock | 0 | 2,591 | 0 | 6,936 |
Net (loss) income available to common stockholders for diluted net income per common share | $ (15,996) | $ 89,918 | $ (36,048) | $ 185,394 |
Number of dilutive shares that could be issued upon vesting | 189 | 678 | 189 | 678 |
X | ||||||||||
- Definition
Represents the number of dilutive shares that could be issued upon vesting. No definition available.
|
X | ||||||||||
- Definition
Preferred Stock Dividends Excluding Gains, Income Statement Impact No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
NONCASH INVESTING AND FINANCING ACTIVITIES (Details) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
0 Months Ended | 3 Months Ended | 6 Months Ended | 6 Months Ended | 0 Months Ended | 3 Months Ended | |||||
---|---|---|---|---|---|---|---|---|---|---|---|
Feb. 13, 2013
|
May 05, 2013
|
Aug. 04, 2013
|
Jul. 29, 2012
|
Feb. 03, 2013
|
Aug. 04, 2013
Calvin Klein licensing business [Member]
|
Jul. 29, 2012
Calvin Klein licensing business [Member]
|
Feb. 13, 2013
Warnaco acquisition [Member]
|
May 05, 2013
Warnaco acquisition [Member]
|
Jul. 29, 2012
Series A Preferred Stock Issuance And Conversion [Member]
|
Apr. 29, 2012
Series A Preferred Stock Issuance And Conversion [Member]
|
|
Nonmonetary Transaction [Line Items] | |||||||||||
Liabilities incurred related to contingent purchase price payments | $ 22,722 | $ 22,722 | $ 22,226 | ||||||||
Contingent purchase price payment terms | Due 45 days subsequent to the Company’s applicable quarter end | ||||||||||
Contingent purchase price payments | 26,734 | 25,749 | 26,734 | 25,749 | |||||||
Stock issued during period, shares, acquisitions | 7,674 | ||||||||||
Common stock, par value (in dollars per share) | $ 1 | $ 1 | $ 1 | $ 1.00 | |||||||
Business acquisition, equity interest issued, treasury stock, number of shares | 416 | ||||||||||
Increase in common stock | 7,258 | 2,095 | |||||||||
Increase in additional paid in capital | 888,925 | 92,202 | |||||||||
Decrease in treasury stock | 30,269 | ||||||||||
Warnaco employee replacement stock awards | 39,752 | 39,752 | 39,752 | ||||||||
Elimination of pre-acquisition liability to Warnaco | 9,128 | 9,128 | |||||||||
Deferred debt issuance costs | 5,757 | ||||||||||
Holders of Series A convertible preferred stock | 1 | 1 | |||||||||
Conversion of preferred stock, shares converted | 4 | ||||||||||
Stock issued during period, shares, conversion of convertible preferred stock | 2,095 | 2,095 | |||||||||
Conversion of preferred stock, amount converted | 94,297 | ||||||||||
Capital Lease Obligations Incurred | $ 2,663 | $ 13,480 |
X | ||||||||||
- Definition
Represents increases or decreases in treasury stock not separately disclosed. No definition available.
|
X | ||||||||||
- Definition
Number of treasury shares issued or issuable to acquire entity. No definition available.
|
X | ||||||||||
- Definition
Contingent purchase price payment terms No definition available.
|
X | ||||||||||
- Definition
Holders Of Series A Convertible Preferred Stock No definition available.
|
X | ||||||||||
- Definition
Increase in common stock during period. No definition available.
|
X | ||||||||||
- Definition
Represents a pre-acquisition liability payable to Warnaco. No definition available.
|
X | ||||||||||
- Definition
Issuance of replacement stock awards pertaining to employee stock-based compensation grants, issued in connection with the acquisition of Warnaco and included in the total acquisition consideration. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
SEGMENT DATA (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 04, 2013
|
Feb. 03, 2013
|
Jul. 29, 2012
|
Aug. 04, 2013
segment
|
Jul. 29, 2012
|
Feb. 03, 2013
|
|||||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||||||||||
Segment Reporting, Number of Reportable Segments | 6 | |||||||||||||||||||||||||||
Net sales | $ 1,884,439 | $ 1,219,620 | $ 3,707,484 | $ 2,532,469 | ||||||||||||||||||||||||
Royalty revenue | 62,561 | 82,513 | 129,628 | 167,973 | ||||||||||||||||||||||||
Advertising and other revenue | 17,847 | 34,490 | 37,895 | 63,587 | ||||||||||||||||||||||||
Total revenue | 1,964,847 | 1,336,623 | 3,875,007 | 2,764,029 | ||||||||||||||||||||||||
Income (loss) before interest and taxes | 73,433 | 153,254 | 80,218 | 309,336 | ||||||||||||||||||||||||
Business Combination, Integration Related Costs | 139,886 | 4,541 | 333,993 | 7,857 | ||||||||||||||||||||||||
Debt modification and extinguishment costs | 0 | 0 | 40,395 | 0 | ||||||||||||||||||||||||
Assets | 11,514,746 | 7,781,549 | 6,731,488 | 11,514,746 | 6,731,488 | 7,781,549 | ||||||||||||||||||||||
Proceeds from issuance of long-term debt | 700,000 | 700,000 | ||||||||||||||||||||||||||
Calvin Klein North America [Member]
|
||||||||||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||||||||||
Net sales | 332,119 | 150,546 | 625,459 | 312,520 | ||||||||||||||||||||||||
Royalty revenue | 22,610 | 28,891 | 48,026 | 60,199 | ||||||||||||||||||||||||
Advertising and other revenue | 8,024 | 14,201 | 16,719 | 26,075 | ||||||||||||||||||||||||
Total revenue | 362,753 | 193,638 | 690,204 | 398,794 | ||||||||||||||||||||||||
Income (loss) before interest and taxes | 39,496 | [1] | 36,412 | 51,934 | [2] | 72,490 | ||||||||||||||||||||||
Business Combination, Integration Related Costs | 27,632 | 68,734 | ||||||||||||||||||||||||||
Assets | 1,907,589 | 752,029 | 719,391 | 1,907,589 | 719,391 | 752,029 | ||||||||||||||||||||||
Calvin Klein International [Member]
|
||||||||||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||||||||||
Sales returns | 30,000 | |||||||||||||||||||||||||||
Net sales | 286,152 | 12,124 | 541,340 | [3] | 21,869 | |||||||||||||||||||||||
Royalty revenue | 15,796 | 30,355 | 34,149 | 64,520 | ||||||||||||||||||||||||
Advertising and other revenue | 5,884 | 15,114 | 12,750 | 28,167 | ||||||||||||||||||||||||
Total revenue | 307,832 | 57,593 | 588,239 | 114,556 | ||||||||||||||||||||||||
Income (loss) before interest and taxes | (56,878) | [1] | 23,777 | (105,032) | [2] | 46,003 | ||||||||||||||||||||||
Business Combination, Integration Related Costs | 85,008 | 185,468 | ||||||||||||||||||||||||||
Assets | 3,182,654 | 584,860 | 578,037 | 3,182,654 | 578,037 | 584,860 | ||||||||||||||||||||||
Tommy Hilfiger North America [Member]
|
||||||||||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||||||||||
Net sales | 357,081 | 324,482 | 694,757 | 623,462 | ||||||||||||||||||||||||
Royalty revenue | 6,034 | 5,101 | 12,524 | 9,625 | ||||||||||||||||||||||||
Advertising and other revenue | 1,748 | 2,285 | 4,206 | 3,972 | ||||||||||||||||||||||||
Total revenue | 364,863 | 331,868 | 711,487 | 637,059 | ||||||||||||||||||||||||
Income (loss) before interest and taxes | 61,960 | 52,636 | 107,970 | 81,513 | [4] | |||||||||||||||||||||||
Business Combination, Integration Related Costs | 379 | |||||||||||||||||||||||||||
Assets | 1,220,896 | 1,137,404 | 1,139,287 | 1,220,896 | 1,139,287 | 1,137,404 | ||||||||||||||||||||||
Tommy Hilfiger International [Member]
|
||||||||||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||||||||||
Net sales | 420,485 | 375,495 | 872,271 | 829,345 | ||||||||||||||||||||||||
Royalty revenue | 12,810 | 13,078 | 24,563 | 23,358 | ||||||||||||||||||||||||
Advertising and other revenue | 1,138 | 1,465 | 2,352 | 2,509 | ||||||||||||||||||||||||
Total revenue | 434,433 | 390,038 | 899,186 | 855,212 | ||||||||||||||||||||||||
Income (loss) before interest and taxes | 37,859 | 41,113 | [5] | 110,001 | 114,593 | [4] | ||||||||||||||||||||||
Business Combination, Integration Related Costs | 3,497 | 3,497 | ||||||||||||||||||||||||||
Assets | 3,209,996 | 3,278,813 | 2,981,087 | 3,209,996 | 2,981,087 | 3,278,813 | ||||||||||||||||||||||
Heritage Brands Wholesale [Member]
|
||||||||||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||||||||||
Net sales | 328,540 | 183,500 | 683,109 | 437,618 | ||||||||||||||||||||||||
Royalty revenue | 4,158 | 3,859 | 8,150 | 7,839 | ||||||||||||||||||||||||
Advertising and other revenue | 762 | 1,189 | 1,366 | 2,357 | ||||||||||||||||||||||||
Total revenue | 333,460 | 188,548 | 692,625 | 447,814 | ||||||||||||||||||||||||
Income (loss) before interest and taxes | 29,149 | [1] | 13,797 | 57,504 | [2] | 34,037 | ||||||||||||||||||||||
Business Combination, Integration Related Costs | 11,247 | 28,770 | ||||||||||||||||||||||||||
Assets | 1,370,895 | 555,544 | 568,847 | 1,370,895 | 568,847 | 555,544 | ||||||||||||||||||||||
Heritage Brand Retail [Member]
|
||||||||||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||||||||||
Net sales | 160,062 | 173,473 | 290,548 | 307,655 | ||||||||||||||||||||||||
Royalty revenue | 1,153 | 1,229 | 2,216 | 2,432 | ||||||||||||||||||||||||
Advertising and other revenue | 291 | 236 | 502 | 507 | ||||||||||||||||||||||||
Total revenue | 161,506 | 174,938 | 293,266 | 310,594 | ||||||||||||||||||||||||
Income (loss) before interest and taxes | 4,013 | 9,306 | (2,790) | 6,710 | ||||||||||||||||||||||||
Assets | 206,313 | 175,717 | 185,756 | 206,313 | 185,756 | 175,717 | ||||||||||||||||||||||
Unallocated amount to segment [Member]
|
||||||||||||||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||||||||||||||
Income (loss) before interest and taxes | (42,166) | [1],[6] | (23,787) | [5],[6] | (139,369) | [2],[6],[7] | (46,010) | [4],[6] | ||||||||||||||||||||
Business Combination, Integration Related Costs | 15,999 | 1,044 | 51,021 | 3,981 | ||||||||||||||||||||||||
Debt modification and extinguishment costs | 40,395 | |||||||||||||||||||||||||||
Assets | $ 416,403 | $ 1,297,182 | [8] | $ 559,083 | $ 416,403 | $ 559,083 | $ 1,297,182 | [8] | ||||||||||||||||||||
|
X | ||||||||||
- Definition
Includes (i) advertising revenue, which represents contributions made by licensees toward advertising based on contractual obligations, and (ii) revenues from the sale of other goods or rendering of other services, not elsewhere specified in the taxonomy; net of (reduced by) sales adjustments, returns, allowances, and discounts. No definition available.
|
X | ||||||||||
- Definition
Amount represents 1) costs incurred in the modification of term of existing debt agreement, including a loss to write-off previously capitalized debt issuance costs, or 2) the difference between the fair value of payments made and the carrying amount of the debt at time of extinguishment. No definition available.
|
X | ||||||||||
- Definition
Sum of operating profit and nonoperating income (expense) before income (loss) from equity method investments, interest expense, interest income, income taxes, extraordinary items, cumulative items, cumulative effects of change in accounting principles and noncontrolling interest. No definition available.
|
X | ||||||||||
- Definition
Segment Reporting, Number of Reportable Segments No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
GUARANTEES (Details) (USD $)
In Thousands, unless otherwise specified |
Aug. 04, 2013
|
---|---|
Guarantor Obligations [Line Items] | |
Guarantee Obligations Maximum Exposure, Rent and Related | $ 3,600 |
Guarantee Obligations Recourse | $ 2,300 |
X | ||||||||||
- Definition
Maximum potential amount of future rent and related payments (undiscounted) the guarantor could be required to make under the guarantee or each group of similar guarantees before reduction for potential recoveries under recourse or collateralization provisions. No definition available.
|
X | ||||||||||
- Definition
Potential amount any recourse provisions would enable guarantor to recover from third parties under the guarantee (or each group of similar guarantees). No definition available.
|
X | ||||||||||
- Details
|