2022 Q2 Form 10-Q Financial Statement

#000131994722000026 Filed on June 02, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q2
Revenue $830.5M $822.6M $703.2M
YoY Change 18.12% 34.99% 45.65%
Cost Of Revenue $554.8M $568.4M $487.0M
YoY Change 13.92% 19.84% -4.36%
Gross Profit $275.7M $254.2M $216.1M
YoY Change 27.59% 88.32% -916.75%
Gross Profit Margin 33.2% 30.9% 30.73%
Selling, General & Admin $223.4M $200.8M
YoY Change 11.26% 7.26%
% of Gross Profit 81.03% 92.92%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $21.38M $18.75M $20.58M
YoY Change 3.93% -14.41% -11.06%
% of Gross Profit 7.75% 7.37% 9.52%
Operating Expenses $223.4M $232.9M $200.8M
YoY Change 11.26% 17.91% 7.26%
Operating Profit $53.19M $21.35M $17.01M
YoY Change 212.8% -134.17% -105.25%
Interest Expense -$1.007M -$5.149M -$7.100M
YoY Change -85.82% -9.67% -7200.0%
% of Operating Profit -1.89% -24.11% -41.75%
Other Income/Expense, Net $6.000K -$801.0K $806.0K
YoY Change -99.26% -214.43% -1026.44%
Pretax Income $37.38M $14.16M $8.997M
YoY Change 315.52% -118.65% -102.76%
Income Tax $11.20M -$253.0K -$8.029M
% Of Pretax Income 29.96% -1.79% -89.24%
Net Earnings $26.18M $14.41M $17.03M
YoY Change 53.78% -110.75% -107.89%
Net Earnings / Revenue 3.15% 1.75% 2.42%
Basic Earnings Per Share $0.36 $0.23
Diluted Earnings Per Share $0.34 $186.1K $0.22
COMMON SHARES
Basic Shares Outstanding 72.92M shares 72.61M shares
Diluted Shares Outstanding 76.92M shares 76.98M shares

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $54.80M $72.69M $49.30M
YoY Change 11.16% 21.96% -80.35%
Cash & Equivalents $54.80M $72.69M $49.30M
Short-Term Investments
Other Short-Term Assets $49.84M $55.27M $60.50M
YoY Change -17.63% 6.7% -26.84%
Inventory $672.5M $586.4M $540.1M
Prepaid Expenses
Receivables $222.3M $199.8M $213.4M
Other Receivables $169.4M $170.3M $0.00
Total Short-Term Assets $999.4M $914.2M $863.3M
YoY Change 15.77% 17.12% -9.05%
LONG-TERM ASSETS
Property, Plant & Equipment $250.1M $256.8M $284.8M
YoY Change -12.18% -13.39% -20.85%
Goodwill $93.66M $93.66M $93.66M
YoY Change 0.0% 0.0% 0.0%
Intangibles $20.36M $31.05M $32.26M
YoY Change -36.91% -0.31% 17.79%
Long-Term Investments $55.12M $55.58M $57.01M
YoY Change -3.32% -5.15% -0.91%
Other Assets $33.73M $31.65M $30.84M
YoY Change 9.37% 1.54% 23.66%
Total Long-Term Assets $1.088B $1.100B $1.169B
YoY Change -6.92% -7.99% -21.46%
TOTAL ASSETS
Total Short-Term Assets $999.4M $914.2M $863.3M
Total Long-Term Assets $1.088B $1.100B $1.169B
Total Assets $2.088B $2.015B $2.032B
YoY Change 2.72% 1.92% -16.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $369.1M $340.9M $341.8M
YoY Change 7.99% 39.09% 20.76%
Accrued Expenses $208.3M $215.8M $195.2M
YoY Change 6.68% 7.73% -15.61%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $62.50M
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $757.3M $758.9M $800.2M
YoY Change -5.36% 0.83% 9.21%
LONG-TERM LIABILITIES
Long-Term Debt $306.9M $225.5M $274.9M
YoY Change 11.63% -17.18% -30.05%
Other Long-Term Liabilities $26.95M $24.36M $31.53M
YoY Change -14.51% -21.03% 24.58%
Total Long-Term Liabilities $333.8M $249.9M $306.4M
YoY Change 8.94% -17.57% 1110.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $757.3M $758.9M $800.2M
Total Long-Term Liabilities $333.8M $249.9M $306.4M
Total Liabilities $1.671B $1.602B $1.770B
YoY Change -5.58% -7.58% -8.77%
SHAREHOLDERS EQUITY
Retained Earnings -$48.12M -$74.30M -$211.8M
YoY Change -77.28% -67.52% -580.44%
Common Stock $1.006B $1.005B $992.4M
YoY Change 1.41% 1.54% 1.75%
Preferred Stock
YoY Change
Treasury Stock (at cost) $537.8M $515.1M $515.1M
YoY Change 4.41% 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity $416.8M $412.4M -$2.743M
YoY Change
Total Liabilities & Shareholders Equity $2.088B $2.015B $2.032B
YoY Change 2.72% 1.92% -16.63%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q2
OPERATING ACTIVITIES
Net Income $26.18M $14.41M $17.03M
YoY Change 53.78% -110.75% -107.89%
Depreciation, Depletion And Amortization $21.38M $18.75M $20.58M
YoY Change 3.93% -14.41% -11.06%
Cash From Operating Activities -$40.67M $7.135M -$1.356M
YoY Change 2899.41% -115.02% -96.56%
INVESTING ACTIVITIES
Capital Expenditures $12.25M -$10.97M $5.641M
YoY Change 117.12% 161.17% -61.43%
Acquisitions $0.00
YoY Change
Other Investing Activities $4.853M -$1.998M $0.00
YoY Change -100.0%
Cash From Investing Activities -$17.10M -$12.97M -$5.641M
YoY Change 203.16% 208.74% -156.48%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00 $0.00
YoY Change -100.0%
Common Stock Issuance & Retirement, Net $22.71M $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $39.77M -3.627M -$3.589M
YoY Change -1208.05% -13.64% -101.85%
NET CHANGE
Cash From Operating Activities -$40.67M 7.135M -$1.356M
Cash From Investing Activities -$17.10M -12.97M -$5.641M
Cash From Financing Activities $39.77M -3.627M -$3.589M
Net Change In Cash -$17.89M -9.459M -$10.28M
YoY Change 74.03% -83.08% -106.26%
FREE CASH FLOW
Cash From Operating Activities -$40.67M $7.135M -$1.356M
Capital Expenditures $12.25M -$10.97M $5.641M
Free Cash Flow -$52.92M $18.10M -$6.997M
YoY Change 656.32% -141.81% -87.07%

Facts In Submission

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<span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Fiscal Year-</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> Our fiscal year ends on the Saturday nearest to January 31. References to a fiscal year (e.g., "2022") refer to the calendar year in which the fiscal year begins. This reporting schedule is followed by many national retail companies and typically results in a 52-week fiscal year (including 2022 and 2021), but occasionally will contain an additional week resulting in a 53-week fiscal year (including 2023).</span>
CY2022Q2 us-gaap Use Of Estimates
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CY2022Q2 us-gaap Severance Costs1
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CY2021Q2 us-gaap Severance Costs1
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1100000 USD
CY2022Q1 us-gaap Supplemental Unemployment Benefits Severance Benefits
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CY2021Q2 us-gaap Supplemental Unemployment Benefits Severance Benefits
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5100000 USD
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49301000 USD
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1100000 USD
CY2022Q2 us-gaap Revenues
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36783000 USD
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34442000 USD
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32844000 USD
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30809000 USD
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15736000 USD
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0.54
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26693000 USD
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32526000 USD
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CY2022Q2 dsw Contract With Customer Liability Loyalty Programs Deferred Revenue Current
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CY2022Q2 us-gaap Valuation Allowances And Reserves Balance
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CY2022Q1 us-gaap Valuation Allowances And Reserves Balance
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CY2021Q2 us-gaap Valuation Allowances And Reserves Balance
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208282000 USD
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195237000 USD
CY2022Q2 us-gaap Long Term Debt Noncurrent
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CY2022Q2 us-gaap Debt Instrument Carrying Amount
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306861000 USD
CY2022Q1 us-gaap Debt Instrument Carrying Amount
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231250000 USD
CY2021Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
345468000 USD
CY2022Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
0 USD
CY2022Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
5714000 USD
CY2021Q2 us-gaap Unamortized Debt Issuance Expense
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8081000 USD
CY2022Q2 us-gaap Long Term Debt Current
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0 USD
CY2022Q1 us-gaap Long Term Debt Current
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CY2021Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
62500000 USD
CY2022Q1 us-gaap Long Term Debt Noncurrent
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225536000 USD
CY2021Q2 us-gaap Long Term Debt Noncurrent
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274887000 USD
CY2022Q2 us-gaap Line Of Credit Facility Current Borrowing Capacity
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550000000 USD
CY2022Q2 us-gaap Letters Of Credit Outstanding Amount
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4900000 USD
CY2022Q2 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
238200000 USD
CY2022Q2 us-gaap Guarantees Fair Value Disclosure
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12900000 USD
CY2022Q2 us-gaap Revenues
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830543000 USD
CY2022Q2 us-gaap Gross Profit
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275745000 USD
CY2022Q2 us-gaap Income Loss From Equity Method Investments
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1945000 USD
CY2021Q2 us-gaap Revenues
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703155000 USD
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216111000 USD
CY2021Q2 us-gaap Income Loss From Equity Method Investments
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1708000 USD

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