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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
10-Q
(Mark One)
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☒
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QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 For the Quarter Ended
October 29, 2022
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☐
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 for the transition period from to
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Commission File No.
1-3083
Genesco Inc.
(Exact name of registrant as specified in its charter)
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Tennessee
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62-0211340
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(State or other jurisdiction of
incorporation or organization)
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(I.R.S. Employer
Identification No.)
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535 Marriott Drive
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37214
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Nashville,
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Tennessee
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(Zip Code)
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(Address of principal executive offices)
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Registrant's telephone number, including area code:
(615)
367-7000
Securities registered pursuant to Section 12(b) of the
Act:
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Common Stock, $1.00 par value
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GCO
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New York Stock Exchange
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Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months (or
for such shorter period that the registrant was required to file
such report), and (2) has been subject to such filing requirements
for the past 90 days.
Yes
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No
☐
Indicate by check mark whether the registrant has submitted
electronically every Interactive Data File required to be submitted
pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter)
during the preceding 12 months (or for such shorter period that the
registrant was required to submit such files).
Yes
☒
No
☐
Indicate by check mark whether the registrant is a large
accelerated filer; an accelerated filer; a non-accelerated filer; a
smaller reporting company; or an emerging growth company. See
definitions of “large accelerated filer,” “accelerated filer,”
“smaller reporting company” and “emerging growth company” in Rule
12b-2 of the Exchange Act:
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Large accelerated filer
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☒
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Accelerated filer
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☐
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Non-accelerated filer
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☐
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Smaller reporting company
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☐
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Emerging growth company
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☐
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If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange
Act.
☐
Indicate by check mark whether the registrant is a shell company
(as defined in Rule 12b-2 of the Exchange Act) Yes
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No
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As of November 25, 2022, there were
12,609,875
shares of the registrant's common stock outstanding.
INDEX
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Part I. Financial Information
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Item 1. Financial Statements:
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Condensed Consolidated Balance Sheets - October 29, 2022, January
29, 2022 and October 30, 2021
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4
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Condensed Consolidated Statements of Operations - Three and Nine
Months ended October 29, 2022 and October 30, 2021
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5
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Condensed Consolidated Statements of Comprehensive Income - Three
and Nine Months ended October 29, 2022 and October 30,
2021
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6
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Condensed Consolidated Statements of Cash Flows - Nine Months ended
October 29, 2022 and October 30, 2021
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7
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Condensed Consolidated Statements of Equity - Three and Nine Months
ended October 29, 2022 and October 30, 2021
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8
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Notes to Condensed Consolidated Financial Statements
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10
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Item 2. Management's Discussion and Analysis of Financial Condition
and Results of Operations
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18
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Item 3. Quantitative and Qualitative Disclosures about Market
Risk
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26
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Item 4. Controls and Procedures
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26
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Part II. Other Information
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27
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Item 1. Legal Proceedings
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27
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Item 1A. Risk Factors
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27
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Item 2. Unregistered Sales of Equity Securities and Use of
Proceeds
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27
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Item 6. Exhibits
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28
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Signature
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29
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2
cautionary notice regarding forward-looking statements
Statements in this Quarterly Report on Form 10-Q include certain
forward-looking statements, which include statements regarding our
intent, belief or expectations and all statements other than those
made solely with respect to historical fact. Actual results could
differ materially from those reflected by the forward-looking
statements in this Quarterly Report on Form 10-Q and a number of
factors may adversely affect the forward-looking statements and our
future results, liquidity, capital resources or prospects. These
include, but are not limited to, risks related to public health and
safety issues, including, for example, risks related to COVID-19;
disruptions to our business, sales, supply chain and financial
results; the level of consumer spending on our merchandise and
interest in our brands and in general, the level and timing of
promotional activity necessary to maintain inventories at
appropriate levels; our ability to pass on price increases to our
customers; the timing and amount of any share repurchases by us;
risks related to doing business internationally, including the
manufacturing of a portion of our products in China; the imposition
of tariffs on products imported by us or our vendors as well as the
ability and costs to move production of products in response to
tariffs; our ability to obtain from suppliers products that are
in-demand on a timely basis and effectively manage disruptions in
product supply or distribution; unfavorable trends in fuel costs,
foreign exchange rates, foreign labor and material costs; a
disruption in shipping or increase in cost of our imported
products, and other factors affecting the cost of products; our
dependence on third-party vendors and licensors for the products we
sell; the effects of the withdrawal of the United Kingdom ("U.K.")
from the European Union ("Brexit"), impacts of the Russia-Ukraine
war, and other sources of market weakness in the U.K. and the
Republic of Ireland (the “ROI”); the effectiveness of our
omnichannel initiatives; costs associated with changes in minimum
wage and overtime requirements; wage pressure in the U.S. and the
U.K.; labor shortages; the effects of inflation, including our
ability to pass increased cost on to consumers; effects resulting
from wars and other military operations; the evolving regulatory
landscape related to our use of social media; the establishment and
protection of our intellectual property; weakness in the consumer
economy and retail industry; competition and fashion trends in our
markets, including trends with respect to the popularity of casual
and dress footwear; weakness in shopping mall traffic; any failure
to increase sales at our existing stores, given our high fixed
expense cost structure, and in our e-commerce businesses; risks
related to the potential for terrorist events; changes in buying
patterns by significant wholesale customers; changes in consumer
preferences; our ability to continue to complete and integrate
acquisitions; our ability to expand our business and diversify our
product base; impairment of goodwill in connection with
acquisitions; payment related risks that could increase our
operating cost, expose us to fraud or theft, subject us to
potential liability and disrupt our business; retained liabilities
associated with divestitures of businesses including potential
liabilities under leases as the prior tenant or as a guarantor of
certain leases; and changes in the timing of holidays or in the
onset of seasonal weather affecting period-to-period sales
comparisons. Additional factors that could cause differences from
expectations include our ability to open additional retail stores,
renew leases in existing stores, control or lower occupancy costs,
to conduct required remodeling or refurbishment on schedule and at
expected expense levels; realize anticipated cost savings,
including rent savings; realize any anticipated tax benefits in
both the amount and timeframe anticipated, and achieve expected
digital gains and gain market share; deterioration in the
performance of individual businesses or of our market value
relative to our book value, resulting in impairments of fixed
assets, operating lease right of use assets or intangible assets or
other adverse financial consequences and the timing and amount of
such impairments or other consequences; unexpected changes to the
market for our shares or for the retail sector in general; our
ability to meet our sustainability, stewardship, emission and
diversity, equity and inclusion related ESG projections, goals and
commitments; costs and reputational harm as a result of disruptions
in our business or information technology systems either by
security breaches and incidents or by potential problems associated
with the implementation of new or upgraded systems, and the cost
and outcome of litigation, investigations and environmental matters
that involve us. For a full discussion of risk factors, see Item
1A, "Risk Factors".
Readers are cautioned not to place undue reliance on
forward-looking statements as such statements speak only as of the
date they were made and involve risks and uncertainties that could
cause actual events or results to differ materially from the events
or results described in the forward-looking statements. The most
important factors which could cause our actual results to differ
from our forward-looking statements are set forth in our
description of risk factors in Item 1A
contained in our Annual Report on Form 10-K for the fiscal year
ended January 29, 2022,
which should be read in conjunction with the forward-looking
statements in this Quarterly Report on Form 10-Q. Forward-looking
statements speak only as of the date they are made, and we do not
undertake any obligation to update any forward-looking
statement.
The events described in the forward-looking statements might not
occur or might occur to a different extent or at a different time
than we have described. As a result, our actual results may differ
materially from the results contemplated by these forward-looking
statements.
We maintain a website at
www.genesco.com
where investors and other interested parties may obtain, free of
charge, press releases and other information as well as gain access
to our periodic filings with the Securities and Exchange Commission
(“SEC”). The information contained on this website should not be
considered to be a part of this or any other report filed with or
furnished to the SEC.
3
PART I - FINANCIAL
INFORMATION
Item 1. Financial Statements
(unaudited)
Genesco Inc. and Subsidiaries
Condensed Consolidated
Balance Sheets
(In thousands, except share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets
|
|
October 29, 2022
|
|
|
January 29, 2022
|
|
|
October 30, 2021
|
|
|
Current Assets:
|
|
|
|
|
|
|
|
|
|
|
Cash
|
|
$
|
32,113
|
|
|
$
|
320,525
|
|
|
$
|
282,764
|
|
|
Accounts receivable, net of allowances of $5,910 at
October 29, 2022,
|
|
|
|
|
|
|
|
|
|
|
$4,656 at
January 29, 2022 and $4,947 at
October 30, 2021
|
|
|
48,670
|
|
|
|
39,509
|
|
|
|
36,991
|
|
|
Inventories
|
|
|
563,490
|
|
|
|
278,200
|
|
|
|
339,198
|
|
|
Prepaids and other current assets
|
|
|
37,575
|
|
|
|
71,564
|
|
|
|
85,476
|
|
|
Total current assets
|
|
|
681,848
|
|
|
|
709,798
|
|
|
|
744,429
|
|
|
Property and equipment, net
|
|
|
221,207
|
|
|
|
216,308
|
|
|
|
207,489
|
|
|
Operating lease right of use assets
|
|
|
483,403
|
|
|
|
543,789
|
|
|
|
573,842
|
|
|
Non-current prepaid income taxes
|
|
|
52,319
|
|
|
|
—
|
|
|
|
—
|
|
|
Goodwill
|
|
|
37,903
|
|
|
|
38,556
|
|
|
|
38,864
|
|
|
Other intangibles
|
|
|
26,208
|
|
|
|
29,855
|
|
|
|
30,592
|
|
|
Deferred income taxes
|
|
|
12,168
|
|
|
|
1,466
|
|
|
|
—
|
|
|
Other noncurrent assets
|
|
|
21,937
|
|
|
|
22,327
|
|
|
|
21,593
|
|
|
Total Assets
|
|
|
1,536,993
|
|
|
|
1,562,099
|
|
|
|
1,616,809
|
|
|
Liabilities and Equity
|
|
|
|
|
|
|
|
|
|
|
Current Liabilities:
|
|
|
|
|
|
|
|
|
|
|
Accounts payable
|
|
|
223,404
|
|
|
|
152,484
|
|
|
|
196,024
|
|
|
Current portion - long-term debt
|
|
|
3,484
|
|
|
|
—
|
|
|
|
—
|
|
|
Current portion - operating lease liabilities
|
|
|
136,294
|
|
|
|
145,088
|
|
|
|
144,453
|
|
|
Other accrued liabilities
|
|
|
82,193
|
|
|
|
134,156
|
|
|
|
133,569
|
|
|
Total current liabilities
|
|
|
445,375
|
|
|
|
431,728
|
|
|
|
474,046
|
|
|
Long-term debt
|
|
|
85,904
|
|
|
|
15,679
|
|
|
|
15,610
|
|
|
Long-term operating lease liabilities
|
|
|
413,096
|
|
|
|
471,878
|
|
|
|
490,330
|
|
|
Other long-term liabilities
|
|
|
33,275
|
|
|
|
40,346
|
|
|
|
44,399
|
|
|
Total liabilities
|
|
|
977,650
|
|
|
|
959,631
|
|
|
|
1,024,385
|
|
|
Commitments and contingent
liabilities
|
|
|
|
|
|
|
|
|
|
|
Equity
|
|
|
|
|
|
|
|
|
|
|
Non-redeemable preferred stock
|
|
|
817
|
|
|
|
827
|
|
|
|
827
|
|
|
Common equity:
|
|
|
|
|
|
|
|
|
|
|
Common stock, $1 par
value:
|
|
|
|
|
|
|
|
|
|
|
Authorized:
80,000,000 shares
|
|
|
|
|
|
|
|
|
|
|
Issued common stock
|
|
|
13,101
|
|
|
|
14,256
|
|
|
|
15,071
|
|
|
Additional paid-in capital
|
|
|
301,692
|
|
|
|
291,444
|
|
|
|
288,813
|
|
|
Retained earnings
|
|
|
307,921
|
|
|
|
350,206
|
|
|
|
339,447
|
|
|
Accumulated other comprehensive loss
|
|
|
(46,331
|
)
|
|
|
(36,408
|
)
|
|
|
(33,877
|
)
|
|
Treasury shares, at cost (488,464 shares)
|
|
|
(17,857
|
)
|
|
|
(17,857
|
)
|
|
|
(17,857
|
)
|
|
Total equity
|
|
|
559,343
|
|
|
|
602,468
|
|
|
|
592,424
|
|
|
Total Liabilities and Equity
|
|
$
|
1,536,993
|
|
|
$
|
1,562,099
|
|
|
$
|
1,616,809
|
|
The accompanying Notes are an integral part of these Condensed
Consolidated Financial Statements.
4
Genesco Inc. and Subsidiaries
Condensed Consolidated Statements
of Operations
(In thousands, except per share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
|
Nine Months Ended
|
|
|
|
|
October 29, 2022
|
|
|
October 30, 2021
|
|
|
October 29, 2022
|
|
|
October 30, 2021
|
|
|
Net sales
|
|
$
|
603,788
|
|
|
$
|
600,546
|
|
|
$
|
1,659,868
|
|
|
$
|
1,694,424
|
|
|
Cost of sales
|
|
|
309,981
|
|
|
|
305,345
|
|
|
|
860,303
|
|
|
|
869,039
|
|
|
Gross margin
|
|
|
293,807
|
|
|
|
295,201
|
|
|
|
799,565
|
|
|
|
825,385
|
|
|
Selling and administrative expenses
|
|
|
267,734
|
|
|
|
251,131
|
|
|
|
756,318
|
|
|
|
743,147
|
|
|
Asset impairments and other, net
|
|
|
—
|
|
|
|
314
|
|
|
|
(154
|
)
|
|
|
10,054
|
|
|
Operating income
|
|
|
26,073
|
|
|
|
43,756
|
|
|
|
43,401
|
|
|
|
72,184
|
|
|
Other components of net periodic benefit cost
|
|
|
50
|
|
|
|
55
|
|
|
|
198
|
|
|
|
72
|
|
|
Interest expense, net
|
|
|
906
|
|
|
|
585
|
|
|
|
1,608
|
|
|
|
1,931
|
|
|
Earnings from continuing operations before income taxes
|
|
|
25,117
|
|
|
|
43,116
|
|
|
|
41,595
|
|
|
|
70,181
|
|
|
Income tax expense
|
|
|
4,693
|
|
|
|
10,135
|
|
|
|
8,551
|
|
|
|
17,432
|
|
|
Earnings from continuing operations
|
|
|
20,424
|
|
|
|
32,981
|
|
|
|
33,044
|
|
|
|
52,749
|
|
|
Loss from discontinued operations, net of tax
|
|
|
(48
|
)
|
|
|
(86
|
)
|
|
|
(78
|
)
|
|
|
(39
|
)
|
|
Net Earnings
|
|
$
|
20,376
|
|
|
$
|
32,895
|
|
|
$
|
32,966
|
|
|
$
|
52,710
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings per common share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing operations
|
|
$
|
1.68
|
|
|
$
|
2.30
|
|
|
$
|
2.61
|
|
|
$
|
3.69
|
|
|
Discontinued operations
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(0.01
|
)
|
|
Net earnings
|
|
$
|
1.68
|
|
|
$
|
2.30
|
|
|
$
|
2.61
|
|
|
$
|
3.68
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per common share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing operations
|
|
$
|
1.66
|
|
|
$
|
2.26
|
|
|
$
|
2.56
|
|
|
$
|
3.60
|
|
|
Discontinued operations
|
|
|
(0.01
|
)
|
|
|
(0.01
|
)
|
|
|
—
|
|
|
|
—
|
|
|
Net earnings
|
|
$
|
1.65
|
|
|
$
|
2.25
|
|
|
$
|
2.56
|
|
|
$
|
3.60
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares outstanding:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
12,138
|
|
|
|
14,314
|
|
|
|
12,637
|
|
|
|
14,313
|
|
|
Diluted
|
|
|
12,326
|
|
|
|
14,616
|
|
|
|
12,901
|
|
|
|
14,643
|
|
The accompanying Notes are an integral part of these Condensed
Consolidated Financial Statements.
5
Genesco Inc. and Subsidiaries
Condensed Consolidated Statements
of Comprehensive Income
(In thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
|
Nine Months Ended
|
|
|
|
|
October 29, 2022
|
|
|
October 30, 2021
|
|
|
October 29, 2022
|
|
|
October 30, 2021
|
|
|
Net earnings
|
|
$
|
20,376
|
|
|
$
|
32,895
|
|
|
$
|
32,966
|
|
|
$
|
52,710
|
|
|
Other comprehensive income (loss):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Postretirement liability adjustments, net of tax
|
|
|
13
|
|
|
|
21
|
|
|
|
76
|
|
|
|
(2
|
)
|
|
Foreign currency translation adjustments
|
|
|
(4,420
|
)
|
|
|
(470
|
)
|
|
|
(9,999
|
)
|
|
|
1,184
|
|
|
Total other comprehensive income (loss)
|
|
|
(4,407
|
)
|
|
|
(449
|
)
|
|
|
(9,923
|
)
|
|
|
1,182
|
|
|
Comprehensive Income
|
|
$
|
15,969
|
|
|
$
|
32,446
|
|
|
$
|
23,043
|
|
|
$
|
53,892
|
|
The accompanying Notes are an integral part of these Condensed
Consolidated Financial Statements.
6
Genesco Inc. and Subsidiaries
Condensed Consolidated Statements
of Cash Flows
(In thousands)
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended
|
|
|
|
|
October 29, 2022
|
|
|
October 30, 2021
|
|
|
CASH FLOWS FROM OPERATING ACTIVITIES:
|
|
|
|
|
|
|
|
Net earnings
|
|
$
|
32,966
|
|
|
$
|
52,710
|
|
|
Adjustments to reconcile net earnings to net cash provided by (used
in)
|
|
|
|
|
|
|
|
operating activities:
|
|
|
|
|
|
|
|
Depreciation and amortization
|
|
|
31,901
|
|
|
|
32,258
|
|
|
Deferred income taxes
|
|
|
(10,728
|
)
|
|
|
(11,101
|
)
|
|
Impairment of long-lived assets
|
|
|
542
|
|
|
|
2,049
|
|
|
Share-based compensation expense
|
|
|
10,464
|
|
|
|
6,476
|
|
|
Other
|
|
|
999
|
|
|
|
1,103
|
|
|
Changes in working capital and other assets and liabilities, net
of
acquisitions/dispositions:
|
|
|
|
|
|
|
|
Accounts receivable
|
|
|
(10,224
|
)
|
|
|
(5,458
|
)
|
|
Inventories
|
|
|
(293,904
|
)
|
|
|
(48,131
|
)
|
|
Prepaids and other current assets
|
|
|
33,133
|
|
|
|
44,711
|
|
|
Accounts payable
|
|
|
70,312
|
|
|
|
46,314
|
|
|
Other accrued liabilities
|
|
|
(45,194
|
)
|
|
|
53,515
|
|
|
Other assets and liabilities
|
|
|
(64,237
|
)
|
|
|
(22,332
|
)
|
|
Net cash provided by (used in) operating activities
|
|
|
(243,970
|
)
|
|
|
152,114
|
|
|
CASH FLOWS FROM INVESTING ACTIVITIES:
|
|
|
|
|
|
|
|
Capital expenditures
|
|
|
(39,845
|
)
|
|
|
(34,507
|
)
|
|
Proceeds from asset sales
|
|
|
—
|
|
|
|
12
|
|
|
Other
|
|
|
—
|
|
|
|
74
|
|
|
Net cash used in investing activities
|
|
|
(39,845
|
)
|
|
|
(34,421
|
)
|
|
CASH FLOWS FROM FINANCING ACTIVITIES:
|
|
|
|
|
|
|
|
Borrowings under revolving credit facility
|
|
|
212,086
|
|
|
|
25,279
|
|
|
Payments on revolving credit facility
|
|
|
(136,375
|
)
|
|
|
(42,935
|
)
|
|
Shares repurchased related to share repurchase plan
|
|
|
(77,470
|
)
|
|
|
(28,474
|
)
|
|
Shares repurchased related to taxes for share-based
awards
|
|
|
(3,942
|
)
|
|
|
(4,076
|
)
|
|
Change in overdraft balances
|
|
|
4,052
|
|
|
|
(459
|
)
|
|
Other
|
|
|
2
|
|
|
|
(35
|
)
|
|
Net cash used in financing activities
|
|
|
(1,647
|
)
|
|
|
(50,700
|
)
|
|
Effect of foreign exchange rate fluctuations on cash
|
|
|
(2,950
|
)
|
|
|
680
|
|
|
Net increase (decrease) in cash
|
|
|
(288,412
|
)
|
|
|
67,673
|
|
|
Cash at beginning of period
|
|
|
320,525
|
|
|
|
215,091
|
|
|
Cash at end of period
|
|
$
|
32,113
|
|
|
$
|
282,764
|
|
|
Supplemental information:
|
|
|
|
|
|
|
|
Interest paid
|
|
$
|
1,276
|
|
|
$
|
1,714
|
|
|
Income taxes paid (refunded)
|
|
|
33,941
|
|
|
|
(20,916
|
)
|
|
Cash paid for amounts included in measurement of operating lease
liabilities
|
|
|
135,116
|
|
|
|
152,240
|
|
|
Operating lease assets obtained in exchange for new operating lease
liabilities
|
|
|
71,598
|
|
|
|
68,773
|
|
The accompanying Notes are an integral part of these Condensed
Consolidated Financial Statements.
7
Genesco Inc. and Subsidiaries
Condensed Consolidated
Statements of Equity
(In thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-
Redeemable
Preferred
Stock
|
|
Common
Stock
|
|
Additional
Paid-In
Capital
|
|
Retained
Earnings
|
|
Accumulated
Other
Comprehensive
Loss
|
|
Treasury
Shares
|
|
Total
Equity
|
|
|
Balance January 30, 2021
|
$
|
1,009
|
|
$
|
15,438
|
|
$
|
282,308
|
|
$
|
320,920
|
|
$
|
(35,059
|
)
|
$
|
(17,857
|
)
|
$
|
566,759
|
|
|
Net earnings
|
|
—
|
|
|
—
|
|
|
—
|
|
|
8,878
|
|
|
—
|
|
|
—
|
|
|
8,878
|
|
|
Other comprehensive income
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,458
|
|
|
—
|
|
|
1,458
|
|
|
Share-based compensation expense
|
|
—
|
|
|
—
|
|
|
1,912
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,912
|
|
|
Other
|
|
(181
|
)
|
|
6
|
|
|
176
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
Balance May 1, 2021
|
|
828
|
|
|
15,444
|
|
|
284,396
|
|
|
329,798
|
|
|
(33,601
|
)
|
|
(17,857
|
)
|
|
579,008
|
|
|
Net earnings
|
|
—
|
|
|
—
|
|
|
—
|
|
|
10,937
|
|
|
—
|
|
|
—
|
|
|
10,937
|
|
|
Other comprehensive income
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
173
|
|
|
—
|
|
|
173
|
|
|
Share-based compensation expense
|
|
—
|
|
|
—
|
|
|
2,055
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,055
|
|
|
Restricted stock issuance
|
|
—
|
|
|
219
|
|
|
(219
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
Restricted shares withheld for taxes
|
|
—
|
|
|
(64
|
)
|
|
64
|
|
|
(4,076
|
)
|
|
—
|
|
|
—
|
|
|
(4,076
|
)
|
|
Other
|
|
—
|
|
|
(2
|
)
|
|
2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
Balance July 31, 2021
|
|
828
|
|
|
15,597
|
|
|
286,298
|
|
|
336,659
|
|
|
(33,428
|
)
|
|
(17,857
|
)
|
|
588,097
|
|
|
Net earnings
|
|
—
|
|
|
—
|
|
|
—
|
|
|
32,895
|
|
|
—
|
|
|
—
|
|
|
32,895
|
|
|
Share-based compensation expense
|
|
—
|
|
|
—
|
|
|
2,509
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,509
|
|
|
Shares repurchased
|
|
—
|
|
|
(522
|
)
|
|
—
|
|
|
(30,107
|
)
|
|
—
|
|
|
—
|
|
|
(30,629
|
)
|
|
Other comprehensive loss
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(449
|
)
|
|
—
|
|
|
(449
|
)
|
|
Other
|
|
(1
|
)
|
|
(4
|
)
|
|
6
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
Balance October 30, 2021
|
$
|
827
|
|
$
|
15,071
|
|
$
|
288,813
|
|
$
|
339,447
|
|
$
|
(33,877
|
)
|
$
|
(17,857
|
)
|
$
|
592,424
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-
Redeemable
Preferred
Stock
|
|
Common
Stock
|
|
Additional
Paid-In
Capital
|
|
Retained
Earnings
|
|
Accumulated
Other
Comprehensive
Loss
|
|
Treasury
Shares
|
|
Total
Equity
|
|
|
Balance January 29, 2022
|
$
|
827
|
|
$
|
14,256
|
|
$
|
291,444
|
|
$
|
350,206
|
|
$
|
(36,408
|
)
|
$
|
(17,857
|
)
|
$
|
602,468
|
|
|
Net earnings
|
|
—
|
|
|
—
|
|
|
—
|
|
|
4,947
|
|
|
—
|
|
|
—
|
|
|
4,947
|
|
|
Other comprehensive loss
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(3,817
|
)
|
|
—
|
|
|
(3,817
|
)
|
|
Share-based compensation expense
|
|
—
|
|
|
—
|
|
|
3,239
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3,239
|
|
|
Restricted stock issuance
|
|
—
|
|
|
78
|
|
|
(78
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
Shares repurchased
|
|
—
|
|
|
(104
|
)
|
|
—
|
|
|
(6,396
|
)
|
|
—
|
|
|
—
|
|
|
(6,500
|
)
|
|
Other
|
|
(9
|
)
|
|
(13
|
)
|
|
23
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1
|
|
|
Balance April 30, 2022
|
|
818
|
|
|
14,217
|
|
|
294,628
|
|
|
348,757
|
|
|
(40,225
|
)
|
|
(17,857
|
)
|
|
600,338
|
|
|
Net earnings
|
|
—
|
|
|
—
|
|
|
—
|
|
|
7,643
|
|
|
—
|
|
|
—
|
|
|
7,643
|
|
|
Other comprehensive loss
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1,699
|
)
|
|
—
|
|
|
(1,699
|
)
|
|
Share-based compensation expense
|
|
—
|
|
|
—
|
|
|
3,549
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3,549
|
|
|
Restricted stock issuance
|
|
—
|
|
|
239
|
|
|
(239
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
Shares repurchased
|
|
—
|
|
|
(826
|
)
|
|
—
|
|
|
(44,596
|
)
|
|
—
|
|
|
—
|
|
|
(45,422
|
)
|
|
Restricted shares withheld for taxes
|
|
—
|
|
|
(72
|
)
|
|
72
|
|
|
(3,875
|
)
|
|
—
|
|
|
—
|
|
|
(3,875
|
)
|
|
Other
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1
|
)
|
|
Balance July 30, 2022
|
|
818
|
|
|
13,557
|
|
|
298,010
|
|
|
307,929
|
|
|
(41,924
|
)
|
|
(17,857
|
)
|
|
560,533
|
|
|
Net earnings
|
|
—
|
|
|
—
|
|
|
—
|
|
|
20,376
|
|
|
—
|
|
|
—
|
|
|
20,376
|
|
|
Other comprehensive loss
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(4,407
|
)
|
|
—
|
|
|
(4,407
|
)
|
|
Share-based compensation expense
|
|
—
|
|
|
—
|
|
|
3,676
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
3,676
|
|
|
Restricted shares withheld for taxes
|
|
—
|
|
|
(2
|
)
|
|
2
|
|
|
(67
|
)
|
|
—
|
|
|
—
|
|
|
(67
|
)
|
|
Shares repurchased
|
|
—
|
|
|
(451
|
)
|
|
—
|
|
|
(20,317
|
)
|
|
—
|
|
|
—
|
|
|
(20,768
|
)
|
|
Other
|
|
(1
|
)
|
|
(3
|
)
|
|
4
|
|
|
—
|
|
|
—
|
|
|
|