| Schedule of approximate percentage of net sales by primary category |
The following table sets forth the approximate percentage of net sales by primary category:
|
|
|
|
|
|
|
|
|
|
|
|
|
13 Weeks Ended |
|
|
26 Weeks Ended |
(Percentage of net sales) |
|
August 3, 2019 |
|
August 4, 2018 |
|
August 3, 2019 |
|
|
August 4, 2018 |
Cosmetics |
|
47% |
|
49% |
|
|
50% |
|
|
51% |
Skincare, Bath & Fragrance |
|
22% |
|
20% |
|
|
21% |
|
|
20% |
Haircare Products & Styling Tools |
|
21% |
|
21% |
|
|
19% |
|
|
19% |
Services |
|
6% |
|
6% |
|
|
6% |
|
|
6% |
Other (nail products, accessories, and other) |
|
4% |
|
4% |
|
|
4% |
|
|
4% |
|
|
100% |
|
100% |
|
|
100% |
|
|
100% |
|
| Summary of changes in deferred revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
13 Weeks Ended |
|
26 Weeks Ended |
|
August 3, 2019 |
|
August 4, 2018 |
|
August 3, 2019 |
|
August 4, 2018 |
Beginning balance |
$ |
173,921 |
|
$ |
130,591 |
|
$ |
193,585 |
|
$ |
110,103 |
Adoption of ASC 606 |
|
— |
|
|
— |
|
|
— |
|
|
38,773 |
Additions to contract liabilities (1) |
|
64,863 |
|
|
89,001 |
|
|
135,167 |
|
|
174,835 |
Deductions to contract liabilities (2) |
|
(66,831) |
|
|
(88,976) |
|
|
(156,799) |
|
|
(193,095) |
Ending balance |
$ |
171,953 |
|
$ |
130,616 |
|
$ |
171,953 |
|
$ |
130,616 |
|
| Schedule of the impact to the Company's opening consolidated balance sheet |
The impact to the Company’s opening consolidated balance sheet as of February 3, 2019 was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
As Reported |
|
Effect of Adopting |
|
Balance at |
(In thousands) |
|
February 2, 2019 |
|
ASC 842 |
|
February 3, 2019 |
Assets |
|
|
|
|
|
|
(Unaudited) |
Receivables, net |
|
$ |
136,168 |
|
$ |
(17,468) |
|
$ |
118,700 |
Prepaid expenses and other current assets |
|
|
138,116 |
|
|
(25,260) |
|
|
112,856 |
Property and equipment, net |
|
|
1,226,029 |
|
|
(16,983) |
|
|
1,209,046 |
Operating lease assets |
|
|
— |
|
|
1,460,866 |
|
|
1,460,866 |
Liabilities and stockholders’ equity |
|
|
|
|
|
|
|
|
|
Accrued liabilities |
|
|
220,666 |
|
|
(1,460) |
|
|
219,206 |
Current operating lease liabilities |
|
|
— |
|
|
210,721 |
|
|
210,721 |
Deferred rent |
|
|
434,980 |
|
|
(434,980) |
|
|
— |
Non-current operating lease liabilities |
|
|
— |
|
|
1,629,249 |
|
|
1,629,249 |
Retained earnings |
|
|
1,105,863 |
|
|
(2,375) |
|
|
1,103,488 |
|