Revenue (Tables)
|
6 Months Ended |
Aug. 04, 2018 |
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| Revenue |
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| Summary of changes made to the recognition timing or classification of revenues and expenses under ASC 606 |
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Description
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Policy under ASC 605
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Policy under ASC 606
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Credit card
program
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Recognized amounts earned under the private label credit card and co-branded credit card programs as a reduction of cost of sales and selling, general and administrative expenses.
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Recognize amounts earned under private label credit card and co-branded credit card programs within net sales.
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Loyalty program
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Recognized revenue under the incremental cost method at the time of purchase by the guest (when points were earned). Recorded a liability for the cost associated with the future performance obligation to the guest.
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Recognize revenue under the deferred revenue method by deferring the recognition of the portion of revenue related to the earning of loyalty points to a future period when the guest redeems the points or the points expire.
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Gift card breakage
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Recognized gift card breakage (amounts not expected to be redeemed) within selling, general and administrative expenses.
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Recognize gift card breakage in net sales proportionately as other gift card balances are redeemed.
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Sales refund
reserve
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Recognized a sales refund reserve as a net liability within accrued liabilities.
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Recognize a sales refund reserve on a gross basis as a liability within accrued liabilities and a right of return asset within prepaid expense and other current assets.
|
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E-commerce
revenue
|
Recognized revenue based on delivery of merchandise to the guest.
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Recognize revenue upon shipment of merchandise to the guest based on meeting the transfer of control criteria.
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| Schedule of revenue |
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13 Weeks Ended
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26 Weeks Ended
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|
|
August 4,
|
|
July 29,
|
|
August 4,
|
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July 29,
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(Dollars in thousands)
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
Retail stores
|
$
|
1,271,404
|
|
85%
|
|
$
|
1,125,479
|
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87%
|
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$
|
2,572,954
|
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85%
|
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$
|
2,267,352
|
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87%
|
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E-commerce
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132,821
|
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9%
|
|
|
96,329
|
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8%
|
|
|
287,204
|
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9%
|
|
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200,607
|
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8%
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Salon services
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74,004
|
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5%
|
|
|
68,046
|
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5%
|
|
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149,679
|
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5%
|
|
|
136,774
|
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5%
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Other
|
|
9,992
|
|
1%
|
|
|
-
|
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0%
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|
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22,051
|
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1%
|
|
|
-
|
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0%
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Total
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$
|
1,488,221
|
|
100%
|
|
$
|
1,289,854
|
|
100%
|
|
$
|
3,031,888
|
|
100%
|
|
$
|
2,604,733
|
|
100%
|
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| Schedule of approximate percentage of net sales attributed to each category |
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13 Weeks Ended
|
|
26 Weeks Ended
|
|
|
August 4,
|
|
July 29,
|
|
August 4,
|
|
July 29,
|
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(Percentage of net sales)
|
2018
|
|
2017
|
|
2018
|
|
2017
|
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Cosmetics
|
49%
|
|
50%
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|
51%
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|
51%
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Skincare, Bath & Fragrance
|
20%
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20%
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20%
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20%
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Haircare Products & Styling Tools
|
21%
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21%
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19%
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20%
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Salon Services
|
5%
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5%
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|
5%
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|
5%
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Other (nail products, accessories, and other)
|
5%
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4%
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5%
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|
4%
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|
|
100%
|
|
100%
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|
100%
|
|
100%
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| Summary of changes in deferred revenue |
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13 Weeks Ended
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26 Weeks Ended
|
|
|
August 4, 2018
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|
August 4, 2018
|
|
Beginning balance
|
$
|
130,591
|
|
$
|
110,103
|
|
Adoption of ASC 606
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|
-
|
|
|
38,773
|
|
Additions to contract liabilities
|
|
89,001
|
|
|
174,835
|
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Deductions to contract liabilities
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(88,976)
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(193,095)
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Ending balance
|
$
|
130,616
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$
|
130,616
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