v3.25.2
Segmented Information
 6 Months Ended
Aug. 03, 2025
Segment Reporting [Abstract]  
Segmented Information Segmented Information
The Company's segments are based on the financial information the Chief Operating Decision Maker ("CODM"), who is the Chief Executive Officer, uses to evaluate performance and allocate resources. The CODM approves the annual budget on a segment level, and regularly assesses the performance of the Company's segments using key financial metrics, including net revenue and segmented income from operations.
The Company reports three segments: Americas, China Mainland, and Rest of World, which is comprised of its non-significant operating segments APAC and EMEA reported on a combined basis. The Company does not report capital expenditures and assets by segment as that information is not reviewed by the CODM.
Second Quarter 2025

Americas
China Mainland
Rest of World
Total Segments
Corporate(1)
Total
(In thousands)
Net revenue$1,758,217 $392,898 $374,104 $2,525,219 $— $2,525,219 
Product costs(2)
515,473 92,219 108,449 716,141 — 716,141 
Other cost of sales(2)
158,390 51,139 63,200 272,729 59,147 331,876 
Selling, general and administrative expenses464,960 97,050 121,212 683,222 268,436 951,658 
Amortization of intangible assets— — — — 1,730 1,730 
Income from operations$619,394 $152,490 $81,243 $853,127 $(329,313)$523,814 
Other income (expense), net9,737 
Income before income tax expense$533,551 
Supplemental information:
Depreciation and amortization(3)
$54,499 $8,871 $8,574 $71,944 $47,771 $119,715 
Second Quarter 2024

Americas
China Mainland
Rest of World
Total Segments
Corporate(1)
Total
(In thousands)
Net revenue$1,741,433 $314,189 $315,456 $2,371,078 $— $2,371,078 
Product costs(2)
493,895 71,547 90,860 656,302 — 656,302 
Other cost of sales(2)
150,458 46,084 51,891 248,433 54,158 302,591 
Selling, general and administrative expenses427,653 77,473 98,705 603,831 268,128 871,959 
Income from operations$669,427 $119,085 $74,000 $862,512 $(322,286)$540,226 
Other income (expense), net17,994 
Income before income tax expense$558,220 
Supplemental information:
Depreciation and amortization(3)
$47,824 $7,762 $7,407 $62,993 $40,580 $103,573 
First Two Quarters 2025

Americas
China Mainland
Rest of World
Total Segments
Corporate(1)
Total
(In thousands)
Net revenue$3,432,775 $760,999 $702,105 $4,895,879 $— $4,895,879 
Product costs(2)
996,293 174,034 198,713 1,369,040 — 1,369,040 
Other cost of sales(2)
315,037 101,412 121,671 538,120 128,391 666,511 
Selling, general and administrative expenses912,720 179,428 227,622 1,319,770 574,759 1,894,529 
Amortization of intangible assets— — — — 3,360 3,360 
Income from operations$1,208,725 $306,125 $154,099 $1,668,949 $(706,510)$962,439 
Other income (expense), net21,523 
Income before income tax expense$983,962 
Supplemental information:
Depreciation and amortization(3)
$105,940 $17,447 $17,286 $140,673 $93,571 $234,244 
First Two Quarters 2024

Americas
China Mainland
Rest of World
Total Segments
Corporate(1)
Total
(In thousands)
Net revenue$3,363,697 $617,975 $598,297 $4,579,969 $— $4,579,969 
Product costs(2)
976,190 140,222 170,934 1,287,346 — 1,287,346 
Other cost of sales(2)
297,635 93,592 99,633 490,860 114,510 605,370 
Selling, general and administrative expenses855,605 145,298 187,049 1,187,952 526,433 1,714,385 
Income from operations$1,234,267 $238,863 $140,681 $1,613,811 $(640,943)$972,868 
Other income (expense), net41,277 
Income before income tax expense$1,014,145 
Supplemental information:
Depreciation and amortization(3)
$92,150 $15,787 $13,913 $121,850 $77,482 $199,332 
__________
(1)Corporate includes centrally managed support functions including product design, raw material development, product innovation, sourcing, supply chain, and global merchandising which are included in other cost of sales. Administrative corporate expenses include technology, brand and marketing, finance, human resources, legal, and other head office costs.
(2)Cost of goods sold is made up of product costs and other cost of sales. Product costs include the cost of purchased merchandise, costs incurred to deliver inventory to the Company's distribution centers, shrink and inventory provision expenses, the cost of digital content subscription services, and hemming costs. Other cost of sales includes occupancy and depreciation expense for company-operated stores, distribution center costs, and product department costs.
(3)The amounts of depreciation and amortization disclosed by reportable segment are included within other cost of sales and selling, general and administrative expenses.