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Consolidated Statements of Operations - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Oct. 29, 2023
Oct. 30, 2022
Oct. 29, 2023
Oct. 30, 2022
Total revenue [1] $ 2,362.9 $ 2,280.8 $ 6,727.8 $ 6,535.5
Cost of goods sold (exclusive of depreciation and amortization) 1,023.5 1,006.6 2,865.8 2,803.1
Gross profit 1,339.4 1,274.2 3,862.0 3,732.4 Close
Selling, general and administrative expenses 1,123.8 1,085.0 3,326.3 3,194.8
Goodwill impairment 0.0 417.1 0.0 417.1
Non-service related pension and postretirement income 0.5 3.4 1.4 10.2
Equity in net income of unconsolidated affiliates 13.7 10.5 34.8 42.6
Income (loss) before interest and taxes [2] 229.8 [3] (214.0) [4] 571.9 [5] 173.3 [4]
Interest expense 24.3 21.1 75.5 65.9
Interest income 2.1 2.3 7.7 5.0
Income (loss) before taxes 207.6 (232.8) 504.1 112.4
Income tax expense (benefit) 46.0 (46.1) 112.3 50.7
Net income (loss) $ 161.6 $ (186.7) $ 391.8 $ 61.7
Basic net income (loss) per common share $ 2.68 $ (2.88) $ 6.35 $ 0.93
Diluted net income (loss) per common share $ 2.66 $ (2.88) $ 6.29 $ 0.92
Net sales        
Total revenue $ 2,225.8 $ 2,144.7 $ 6,382.1 $ 6,182.4
Royalty revenue        
Total revenue 108.0 105.4 272.8 273.7
Advertising and other revenue        
Total revenue $ 29.1 $ 30.7 $ 72.9 $ 79.4
[1] Revenue was impacted by fluctuations of the United States dollar against foreign currencies in which the Company transacts significant levels of business.
[2] Income (loss) before interest and taxes was impacted by fluctuations of the United States dollar against foreign currencies in which the Company transacts significant levels of business.
[3] Income (loss) before interest and taxes for the thirteen weeks ended October 29, 2023 included costs of $18.8 million incurred related to the 2022 cost savings initiative described in Note 15, “Exit Activity Costs,” consisting principally of severance. Such costs were included in the Company’s segments as follows: $5.4 million in Tommy Hilfiger North America, $3.6 million in Tommy Hilfiger International, $2.6 million in Calvin Klein North America, $1.7 million in Calvin Klein International, $3.2 million in Heritage Brands Wholesale and $2.3 million in corporate expenses not allocated to any reportable segments. Please see Note 15, “Exit Activity Costs,” for further discussion.
[4] (Loss) income before interest and taxes for the thirteen and thirty-nine weeks ended October 30, 2022 included costs of $16.7 million incurred related to the 2022 cost savings initiative described in Note 15, “Exit Activity Costs,” consisting of severance. Such costs were included in the Company’s segments as follows: $4.2 million in Tommy Hilfiger North America, $2.1 million in Tommy Hilfiger International, $4.0 million in Calvin Klein North America, $2.7 million in Calvin Klein International, $2.2 million in Heritage Brands Wholesale and $1.5 million in corporate expenses not allocated to any reportable segments. Please see Note 15, “Exit Activity Costs,” for further discussion.
[5] Income (loss) before interest and taxes for the thirty-nine weeks ended October 29, 2023 included costs of $57.8 million incurred related to the 2022 cost savings initiative described in Note 15, “Exit Activity Costs,” consisting principally of severance. Such costs were included in the Company’s segments as follows: $11.8 million in Tommy Hilfiger North America, $15.9 million in Tommy Hilfiger International, $8.5 million in Calvin Klein North America, $10.2 million in Calvin Klein International, $7.8 million in Heritage Brands Wholesale and $3.6 million in corporate expenses not allocated to any reportable segments. Please see Note 15, “Exit Activity Costs,” for further discussion.
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