0001564590-22-030767 | 10-Q | XBRL Viewer

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Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	Jul. 29, 2022	Aug. 29, 2022
Cover [Abstract]
Entity Registrant Name	Lands’ End, Inc.
Document Type	10-Q
Trading Symbol	LE
Current Fiscal Year End Date	--01-27
Entity Common Stock, Shares Outstanding		33,114,563
Amendment Flag	false
Entity Central Index Key	0000799288
Entity Filer Category	Accelerated Filer
Document Period End Date	Jul. 29, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Security Exchange Name	NASDAQ
Entity File Number	001-09769
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-2512786
Entity Address, Address Line One	1 Lands’ End Lane
Entity Address, City or Town	Dodgeville
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53595
City Area Code	608
Local Phone Number	935-9341
Document Quarterly Report	true
Document Transition Report	false
Title of 12(b) Security	Common Stock, par value $0.01 per share

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 29, 2022	Jul. 30, 2021	Jul. 29, 2022	Jul. 30, 2021
Income Statement [Abstract]
Net revenue	$ 351,178	$ 384,109	$ 654,843	$ 705,406
Cost of sales (excluding depreciation and amortization)	207,141	206,320	381,631	379,880
Gross profit	144,037	177,789	273,212	325,526
Selling and administrative	128,573	136,649	244,267	262,171
Depreciation and amortization	9,883	9,791	19,467	19,695
Other operating expense, net	39		39	443
Operating income	5,542	31,349	9,439	43,217
Interest expense	8,813	8,837	16,982	17,897
Other (income), net	(166)	(123)	(328)	(290)
(Loss) income before income taxes	(3,105)	22,635	(7,215)	25,610
Income tax (benefit) expense	(926)	6,414	(2,665)	6,750
NET (LOSS) INCOME	$ (2,179)	$ 16,221	$ (4,550)	$ 18,860
NET (LOSS) INCOME PER COMMON SHARE
Basic:	$ (0.07)	$ 0.49	$ (0.14)	$ 0.57
Diluted:	$ (0.07)	$ 0.48	$ (0.14)	$ 0.56
Basic weighted average common shares outstanding	33,361	32,979	33,262	32,875
Diluted weighted average common shares outstanding	33,361	33,713	33,262	33,710

Condensed Consolidated Statements of Comprehensive Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 29, 2022	Jul. 30, 2021	Jul. 29, 2022	Jul. 30, 2021
Statement Of Income And Comprehensive Income [Abstract]
NET (LOSS) INCOME	$ (2,179)	$ 16,221	$ (4,550)	$ 18,860
Other comprehensive (loss) income, net of tax, foreign currency translation adjustments	(843)	(36)	(3,937)	275
COMPREHENSIVE (LOSS) INCOME	$ (3,022)	$ 16,185	$ (8,487)	$ 19,135

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 29, 2022	Jan. 28, 2022	Jul. 30, 2021
Current assets
Cash and cash equivalents	$ 23,505	$ 34,301	$ 39,223
Restricted cash	2,091	1,834	2,102
Accounts receivable, net	40,917	49,668	30,203
Inventories, net	569,174	384,241	464,291
Prepaid expenses and other current assets	39,267	36,905	31,127
Total current assets	674,954	506,949	566,946
Property and equipment, net	124,626	129,791	136,714
Operating lease right-of-use asset	32,115	31,492	33,989
Goodwill	106,700	106,700	106,700
Intangible asset	257,000	257,000	257,000
Other assets	3,760	4,702	4,347
TOTAL ASSETS	1,199,155	1,036,634	1,105,696
Current liabilities
Current portion of long-term debt	13,750	13,750	13,750
Accounts payable	236,015	145,802	211,916
Lease liability – current	6,720	5,617	5,437
Other current liabilities	101,015	146,263	130,285
Total current liabilities	357,500	311,432	361,388
Long-term borrowings under ABL Facility	135,000		25,000
Long-term debt, net	228,948	234,474	240,020
Lease liability – long-term	32,333	32,731	35,912
Deferred tax liabilities	45,516	46,191	47,469
Other liabilities	4,913	5,110	6,084
TOTAL LIABILITIES	804,210	629,938	715,873
Commitments and contingencies
STOCKHOLDERS’ EQUITY
Common stock, par value $0.01 authorized: 480,000 shares; issued and outstanding: 33,202, 32,981 and 32,985, respectively	332	330	330
Additional paid-in capital	371,245	374,413	370,353
Retained earnings	39,947	44,595	30,086
Accumulated other comprehensive (loss)	(16,579)	(12,642)	(10,946)
TOTAL STOCKHOLDERS’ EQUITY	394,945	406,696	389,823
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 1,199,155	$ 1,036,634	$ 1,105,696

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jul. 29, 2022	Jan. 28, 2022	Jul. 30, 2021
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized	480,000,000	480,000,000	480,000,000
Common stock, shares issued	33,202,000	32,985,000	32,981,000
Common stock, shares outstanding	33,202,000	32,985,000	32,981,000

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jul. 29, 2022	Jul. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income	$ (4,550)	$ 18,860
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation and amortization	19,467	19,695
Amortization of debt issuance costs	1,546	1,597
Loss on disposal of property and equipment	39	443
Stock-based compensation	3,403	6,069
Deferred income taxes	372	46
Other	(374)	194
Change in operating assets and liabilities:
Accounts receivable, net	8,292	7,071
Inventories, net	(190,885)	(81,971)
Accounts payable	91,370	78,376
Other operating assets	(2,105)	10,615
Other operating liabilities	(44,100)	(30,470)
Net cash (used in) provided by operating activities	(117,525)	30,525
CASH FLOWS FROM INVESTING ACTIVITIES
Sales of property and equipment	87
Purchases of property and equipment	(14,863)	(11,961)
Net cash used in investing activities	(14,776)	(11,961)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings under ABL Facility	141,000	75,000
Payments of borrowings under ABL Facility	(6,000)	(75,000)
Payments on term loan	(6,875)	(6,875)
Payments for taxes related to net share settlement of equity awards	(4,310)	(5,084)
Purchases and retirement of common stock	(2,357)
Payment of debt-issuance costs		(932)
Net cash provided by (used in) financing activities	121,458	(12,891)
Effects of exchange rate changes on cash, cash equivalents and restricted cash	304	(142)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(10,539)	5,531
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD	36,135	35,794
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	25,596	41,325
SUPPLEMENTAL CASH FLOW DATA
Unpaid liability to acquire property and equipment	2,914	2,726
Income taxes paid, net of refunds	4,013	18,338
Interest paid	16,661	16,306
Lease liabilities arising from obtaining operating lease right-of-use assets	$ 3,902	$ 1,161

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock Issued	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive (Loss)
Balance at Jan. 29, 2021	$ 369,703	$ 326	$ 369,372	$ 11,226	$ (11,221)
Balance, shares at Jan. 29, 2021		32,614,000
Net (loss) income	2,639			2,639
Cumulative translation adjustment, net of tax	311				311
Stock-based compensation expense	2,513		2,513
Vesting of restricted shares		$ 4	(4)
Vesting of restricted shares, shares		553,000
Common stock withheld related to net share settlement of equity awards	(5,013)		(5,013)
Common stock withheld related to net share settlement of equity awards, shares		(190,000)
Balance at Apr. 30, 2021	370,153	$ 330	366,868	13,865	(10,910)
Balance, shares at Apr. 30, 2021		32,977,000
Balance at Jan. 29, 2021	369,703	$ 326	369,372	11,226	(11,221)
Balance, shares at Jan. 29, 2021		32,614,000
Net (loss) income	18,860
Cumulative translation adjustment, net of tax	275
Balance at Jul. 30, 2021	389,823	$ 330	370,353	30,086	(10,946)
Balance, shares at Jul. 30, 2021		32,981,000
Balance at Apr. 30, 2021	370,153	$ 330	366,868	13,865	(10,910)
Balance, shares at Apr. 30, 2021		32,977,000
Net (loss) income	16,221			16,221
Cumulative translation adjustment, net of tax	(36)				(36)
Stock-based compensation expense	3,556		3,556
Vesting of restricted shares, shares		7,000
Common stock withheld related to net share settlement of equity awards	(71)		(71)
Common stock withheld related to net share settlement of equity awards, shares		(3,000)
Balance at Jul. 30, 2021	389,823	$ 330	370,353	30,086	(10,946)
Balance, shares at Jul. 30, 2021		32,981,000
Balance at Jan. 28, 2022	406,696	$ 330	374,413	44,595	(12,642)
Balance, shares at Jan. 28, 2022		32,985,000
Net (loss) income	(2,371)			(2,371)
Cumulative translation adjustment, net of tax	(3,094)				(3,094)
Stock-based compensation expense	1,484		1,484
Vesting of restricted shares		$ 4	(4)
Vesting of restricted shares, shares		660,000
Common stock withheld related to net share settlement of equity awards	(4,310)		(4,310)
Common stock withheld related to net share settlement of equity awards, shares		(232,000)
Balance at Apr. 29, 2022	398,405	$ 334	371,583	42,224	(15,736)
Balance, shares at Apr. 29, 2022		33,413,000
Balance at Jan. 28, 2022	406,696	$ 330	374,413	44,595	(12,642)
Balance, shares at Jan. 28, 2022		32,985,000
Net (loss) income	(4,550)
Cumulative translation adjustment, net of tax	(3,937)
Balance at Jul. 29, 2022	394,945	$ 332	371,245	39,947	(16,579)
Balance, shares at Jul. 29, 2022		33,202,000
Balance at Apr. 29, 2022	398,405	$ 334	371,583	42,224	(15,736)
Balance, shares at Apr. 29, 2022		33,413,000
Net (loss) income	(2,179)			(2,179)
Cumulative translation adjustment, net of tax	(843)				(843)
Stock-based compensation expense	1,919		1,919
Vesting of restricted shares, shares		1,000
Purchases and retirement of common stock	(2,357)	$ (2)	(2,257)	(98)
Purchases and retirement of common stock, shares		(212,000)
Balance at Jul. 29, 2022	$ 394,945	$ 332	$ 371,245	$ 39,947	$ (16,579)
Balance, shares at Jul. 29, 2022		33,202,000

Background and Basis of Presentation

6 Months Ended

Jul. 29, 2022

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Background and Basis of Presentation

NOTE 1. BACKGROUND AND BASIS OF PRESENTATION

Description of Business

Lands’ End, Inc. (“Lands’ End” or the “Company”) is a leading uni-channel retailer of casual clothing, accessories, footwear and home products. Lands’ End offers products online at www.landsend.com, through Company Operated stores and through third-party distribution channels. Lands’ End is a classic American lifestyle brand with a passion for quality, legendary service and real value and seeks to deliver timeless style for women, men, kids and the home. References to www.landsend.com do not constitute incorporation by reference of the information at www.landsend.com, and such information is not part of this Quarterly Report on Form 10-Q or any other filings with the SEC, unless otherwise explicitly stated.

Terms that are commonly used in the Company’s Notes to Condensed Consolidated Financial Statements are defined as follows:

•

ABL Facility – Asset-based senior secured credit agreement, providing for a revolving facility, dated as of November 16, 2017, with Wells Fargo Bank, N.A. and certain other lenders, as amended to date

•

Adjusted EBITDA – Net income (loss) appearing on the Condensed Consolidated Statements of Operations net of Income tax expense/(benefit), Interest expense, Depreciation and amortization and certain significant items

•

ASC – Financial Accounting Standards Board Accounting Standards Codification, which serves as the source for authoritative GAAP, as supplemented by rules and interpretive releases by the SEC which are also sources of authoritative GAAP for SEC registrants

•

Company Operated stores – Lands’ End retail stores in the Retail distribution channel

•

Debt Facilities – Collectively, the Term Loan Facility and ABL Facility

•

Deferred Awards – Time vesting stock awards

•

EPS – Earnings per share

•

FASB – Financial Accounting Standards Board

•

First Quarter 2022 – The 13 weeks ended April 29, 2022

•

First Quarter 2021 – The 13 weeks ended April 30, 2021

•

First Quarter 2019 – The 13 weeks ended May 3, 2019

•

GAAP – Accounting principles generally accepted in the United States

•

LIBOR – London inter-bank offered rate

•

Option Awards – Stock option awards

•

Performance Awards – Performance-based stock awards

•

SEC – United States Securities and Exchange Commission

•

Second Quarter 2022 – The 13 weeks ended July 29, 2022

•

Term Loan Facility – Term loan credit agreement, dated as of September 9, 2020, among the Company, Fortress Credit Corp., as Administrative Agent and Collateral Agent, and the lenders party thereto

Basis of Presentation

The Condensed Consolidated Financial Statements include the accounts of Lands’ End, Inc. and its subsidiaries. All intercompany transactions and balances have been eliminated.

The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all material adjustments which are of a normal and recurring nature necessary for a fair presentation of the results for the periods presented have been reflected. Dollar amounts are reported in thousands, except per share data, unless otherwise noted. Interim results are not necessarily indicative of results for a full year. The information included in this Form 10-Q should be read in conjunction with information included in the Lands’ End Annual Report on Form 10-K filed with the SEC on March 24, 2022.

Recent Accounting Pronouncements

6 Months Ended

Jul. 29, 2022

Accounting Changes And Error Corrections [Abstract]

Recent Accounting Pronouncements

NOTE 2. RECENT ACCOUNTING PRONOUNCEMENTS

There were no new accounting standards adopted that had an impact on the Company’s financial statements during the 26 weeks ended July 29, 2022.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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+ Details

Earnings (Loss) Per Share

6 Months Ended

Jul. 29, 2022

Earnings Per Share [Abstract]

Earnings (Loss) Per Share

NOTE 3. EARNINGS (LOSS) PER SHARE

The numerator for both basic and diluted EPS is net income (loss). The denominator for basic EPS is based upon the number of weighted average shares of Lands’ End common stock outstanding during the reporting periods. The denominator for diluted EPS is based upon the number of weighted average shares of Lands’ End common stock and common stock equivalents outstanding during the reporting periods using the treasury stock method in accordance with GAAP. Potentially dilutive securities for the diluted EPS calculations consist of non-vested equity shares of common stock and in-the-money outstanding options where the current stock price exceeds the option strike price.

The following table summarizes the components of basic and diluted EPS:

	13 Weeks Ended					26 Weeks Ended
(in thousands, except per share amounts)	July 29, 2022			July 30, 2021		July 29, 2022			July 30, 2021
Net (loss) income	$	(2,179	)	$	16,221	$	(4,550	)	$	18,860

Basic weighted average common shares outstanding		33,361			32,979		33,262			32,875
Dilutive effect of stock awards		—			734		—			835
Diluted weighted average common shares outstanding		33,361			33,713		33,262			33,710

Basic (loss) earnings per share	$	(0.07	)	$	0.49	$	(0.14	)	$	0.57
Diluted (loss) earnings per share	$	(0.07	)	$	0.48	$	(0.14	)	$	0.56

Stock awards are considered anti-dilutive based on the application of the treasury stock method or in the event of a net loss. Anti-dilutive shares excluded from the diluted weighted average shares outstanding were 1,098,859 anti-dilutive shares in the 13 weeks ended July 29, 2022, 89 anti-dilutive shares in the 13 weeks ended July 30, 2021, 1,209,586 anti-dilutive shares in the 26 weeks ended July 29, 2022 and 44 anti-dilutive shares in the 26 weeks ended July 30, 2021.

Other Comprehensive (Loss) Income

6 Months Ended

Jul. 29, 2022

Equity [Abstract]

Other Comprehensive (Loss) Income

NOTE 4. OTHER COMPREHENSIVE (LOSS) INCOME

Other comprehensive (loss) income encompasses all changes in equity other than those arising from transactions with stockholders and is comprised solely of foreign currency translation adjustments.

	13 Weeks Ended						26 Weeks Ended
(in thousands)	July 29, 2022			July 30, 2021			July 29, 2022			July 30, 2021
Beginning balance: Accumulated other comprehensive (loss) (net of tax of $4,184, $2,900, $3,361 and $2,987, respectively)	$	(15,736	)	$	(10,910	)	$	(12,642	)	$	(11,221	)
Other comprehensive (loss) income:
Foreign currency translation adjustments (net of tax of $223, $10, $1,046 and $(77), respectively)		(843	)		(36	)		(3,937	)		275
Ending balance: Accumulated other comprehensive (loss) (net of tax of $4,407, $2,910, $4,407 and $2,910, respectively)	$	(16,579	)	$	(10,946	)	$	(16,579	)	$	(10,946	)

No amounts were reclassified out of Accumulated other comprehensive (loss) during any of the periods presented.

Debt

6 Months Ended

Jul. 29, 2022

Debt Disclosure [Abstract]

Debt

NOTE 5. DEBT

ABL Facility

The Company’s $275.0 million revolving ABL Facility includes a $70.0 million sublimit for letters of credit and is available for working capital and other general corporate liquidity needs. On July 29, 2021, the Company executed the Third Amendment to the ABL Facility resulting in favorable financial terms and extension of the maturity date of the ABL Facility, as discussed below. The amount available to borrow is subject to the Loan Cap, as defined in the agreement, which considers the Borrowing Base calculated from eligible inventory, trade receivables and credit card receivables as defined in the agreement.

The following table summarizes the Company’s borrowing availability, before consideration of the Loan Cap, under the ABL Facility:

	July 29, 2022			July 30, 2021			January 28, 2022
(in thousands)	Amount		Interest Rate	Amount		Interest Rate	Amount		Interest Rate
ABL Facility maximum borrowing	$	275,000		$	275,000		$	275,000
Less: Outstanding borrowings		135,000	3.51%		25,000	2.75%		—	―%
Less: Outstanding letters of credit		13,828			16,693			23,521
Borrowing availability under ABL Facility	$	126,172		$	233,307		$	251,479

As of July 29, 2022, the amount available to borrow under the ABL Facility subject to the Loan Cap, as defined in the agreement which considers the Borrowing Base, was $126.2 million.

Long-Term Debt

On September 9, 2020, the Company entered into the Term Loan Facility which provided borrowings of $275.0 million. Origination costs, including an Original Issue Discount (“OID”) of 3% and $5.1 million in debt origination fees, were paid in connection with entering into the Term Loan Facility. The OID and the debt origination fees are presented as a direct deduction from the carrying value of the Term Loan Facility and are amortized over the term of the loan to Interest expense in the Condensed Consolidated Statements of Operations.

The Company’s long-term debt consisted of the following:

	July 29, 2022			July 30, 2021			January 28, 2022
(in thousands)	Amount		Interest Rate	Amount		Interest Rate	Amount		Interest Rate
Term Loan Facility	$	250,938	12.12%	$	264,688	10.75%	$	257,813	10.75%
Less: Current portion of long-term debt		13,750			13,750			13,750
Less: Unamortized debt issuance costs		8,240			10,918			9,589
Long-term debt, net	$	228,948		$	240,020		$	234,474

Interest; Fees

The Third Amendment to the ABL Facility, effective July 31, 2021, lowered the applicable margin interest rates applicable to the referenced rate, selected at the borrower’s election, either (1) adjusted LIBOR or (2) a base rate which is the greater of (a) the federal funds rate plus 0.50%, (b) the one-month LIBOR rate plus 1.00%, or (c) the Wells Fargo “prime rate”. For all loans, the borrowing margin is based upon the average daily total loans outstanding for the previous quarter. The applicable borrowing margin for LIBOR loans is (i) less than $95.0 million, 1.25%, (ii) equal to or greater than $95.0 million but less than $180.0 million, 1.50%, and (iii) greater than or equal to $180.0 million, 1.75%. For base rate loans, the applicable borrowing margin is (i) less than $95.0 million, 0.50%, (ii) equal to or greater than $95.0 million but less than $180.0 million, 0.75%, and (iii) greater than or equal to $180.0 million, 1.00%. The Third Amendment to the ABL Facility replaced the 0.75% LIBOR floor with a 0.00% LIBOR floor.

The interest rates per annum applicable to the loans under the Term Loan Facility are based on a fluctuating rate of interest measured by reference to, at the borrower’s election, either (1) an adjusted LIBOR rate (with a minimum rate of 1.00%) plus 9.75%, or (2) an alternative base rate (which is the greater of (i) the prime rate published in the Wall Street Journal, (ii) the federal funds rate, which shall be no lower than 0.00% plus ½ of 1.00%, or (iii) the one month LIBOR rate plus 1.00% per annum) plus 8.75%.

The ABL Facility fees include (i) commitment fees of 0.25% based upon the average daily unused commitment (aggregate commitment less loans and letter of credit outstanding) under the ABL Facility for the preceding fiscal quarter and (ii) customary letter of credit fees. As of July 29, 2022, the Company had borrowings of $135.0 million under the ABL Facility.

Customary agency fees are payable in respect of the Debt Facilities.

Maturity; Amortization and Prepayments

The Third Amendment to the ABL Facility extended the maturity from November 16, 2022 to the earlier of (a) July 29, 2026 and (b) June 9, 2025 if, on or prior to such date, the Term Loan Facility has not been refinanced, extended or repaid in full in accordance with the terms thereof and not replaced with other indebtedness.

The Term Loan Facility matures on September 9, 2025 and amortizes at a rate equal to 1.25% per quarter. It is subject to mandatory prepayments in an amount equal to a percentage of the borrower’s excess cash flows in each fiscal year, ranging from 0% to 75% depending on the Company’s total leverage ratio, and with the proceeds of certain asset sales, casualty events and extraordinary receipts. The loan may not be voluntarily prepaid during the first two years of its term, without significant penalties. After the initial two-year period, a prepayment premium of 3% applies to voluntary prepayments and certain mandatory prepayments made after September 9, 2022 and on or prior to September 9, 2023, 1% for such prepayments made after September 9, 2023 and on or prior to September 9, 2024 and no premium on such prepayments thereafter.

Guarantees; Security

All obligations under the Debt Facilities are unconditionally guaranteed by Lands’ End, Inc. and, subject to certain exceptions, each of its existing and future direct and indirect subsidiaries. The ABL Facility is secured by a first priority security interest in certain working capital of the borrowers and guarantors consisting primarily of accounts receivable and inventory. The Term Loan Facility is secured by a second priority security interest in the same collateral with certain exceptions.

The Term Loan Facility is secured by a first priority security interest in certain property and assets of the borrowers and guarantors, including certain fixed assets such as real estate, stock of the subsidiaries and intellectual property, in each case, subject to certain exceptions. The ABL Facility is secured by a second priority interest in the same collateral, with certain exceptions.

Representations and Warranties; Covenants

Subject to specified exceptions, the Debt Facilities contain various representations and warranties, and restrictive covenants that, among other things, restrict Lands’ End, Inc.’s and its subsidiaries’ ability to incur indebtedness (including guarantees), grant liens, make investments, make dividends or distributions with respect to capital stock, make prepayments on other indebtedness, engage in mergers or change the nature of their business.

The Term Loan Facility contains certain financial covenants, including a quarterly maximum total leverage ratio test, a weekly minimum liquidity test and an annual maximum capital expenditure amount.

Under the ABL Facility, if excess availability falls below the greater of 10% of the Loan Cap amount or $15.0 million, the Company will be required to comply with a minimum fixed charge coverage ratio of 1.0 to 1.0.

The Debt Facilities contain certain affirmative covenants, including reporting requirements such as delivery of financial statements, certificates and notices of certain events, maintaining insurance, and providing additional guarantees and collateral in certain circumstances.

As of July 29, 2022, the Company was in compliance with its financial covenants in the Debt Facilities.

Events of Default

The Debt Facilities include customary events of default including non-payment of principal, interest or fees, violation of covenants, inaccuracy of representations or warranties, cross defaults related to certain other material indebtedness, bankruptcy and insolvency events, invalidity or impairment of guarantees or security interests, material judgments, and change of control.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Stock-Based Compensation

6 Months Ended

Jul. 29, 2022

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-Based Compensation

NOTE 6. STOCK-BASED COMPENSATION

The Company expenses the fair value of all stock awards over their respective vesting periods, ensuring that the amount of cumulative stock-based compensation expense recognized at any date is at least equal to the portion of the grant-date fair value of the award that is vested at that date. The Company has elected to adjust stock-based compensation expense for an estimated forfeiture rate for those shares not expected to vest and to recognize stock-based compensation expense on a straight-line basis for awards that only have a service requirement with multiple vest dates.

The Company has granted the following types of stock awards to employees at management levels and above, each of which are granted under the Company’s stockholder approved stock plans, other than inducement grants outside of the Company’s stockholder approved stock plans in accordance with NASDAQ Listing Rule 5635(c)(4):

•

Deferred Awards are in the form of restricted stock units and only require each recipient to complete a service period for the awards to be earned. Deferred Awards generally vest over three years. The fair value of Deferred Awards is based on the closing price of the Company's common stock on the grant date. Stock-based compensation expense is recognized ratably over the service period and is reduced for estimated forfeitures of those awards not expected to vest due to employee turnover.

•

Performance Awards are in the form of restricted stock units and have, in addition to a service requirement, performance criteria that must be achieved for the awards to be earned. For Performance Awards granted, the Target Shares earned can range from 50% to 200% once minimum thresholds have been reached and depend on the achievement of Adjusted EBITDA and revenue performance measures for the cumulative period comprised of three-consecutive fiscal years beginning with the fiscal year of the grant date. The applicable percentage of the Target Shares, as determined by performance, vest after the completion of the applicable three-year performance period and upon determination of achievement of the performance measures by the Compensation Committee of the Board of Directors, and unearned Target Shares are forfeited. The fair value of the Performance Awards granted are based on the closing price of the Company’s common stock on the grant date. Stock-based compensation expense is recognized ratably over the related service period reduced for estimated forfeitures of those awards not expected to vest due to employee turnover and adjusted based on the Company’s estimate of the percentage of the aggregate Target Shares expected to be earned. Typically, the Company accrues for Performance Awards on a 100% payout unless it becomes probable that the outcome will be significantly different, or the performance can be accurately measured. The performance period has been completed for the Performance Awards granted during First Quarter 2019 and, based on the Company’s performance relative to the Adjusted EBITDA and revenue performance measures, these awards vested on March 25, 2022 at 118% of Target Shares. The stock-based compensation expense associated with the Performance Awards granted to employees during First Quarter 2022 and First Quarter 2021 is accrued at 100% and 114% payout, respectively.

•

Option Awards provide the recipient with the option to purchase a set number of shares at a stated exercise price over the term of the contract, which is ten years for all Option Awards currently outstanding. Options are granted with a strike price equal to the stock price on the date of grant and vest ratably over a four-year period. The fair value of each Option Award is estimated on the grant date using the Black-Scholes option pricing model.

The following table provides a summary of the Company’s stock-based compensation expense, which is included in Selling and administrative expense in the Condensed Consolidated Statements of Operations:

	13 Weeks Ended				26 Weeks Ended
(in thousands)	July 29, 2022		July 30, 2021		July 29, 2022		July 30, 2021
Deferred awards	$	1,350	$	1,484	$	2,905	$	2,845
Performance awards		569		2,072		498		3,121
Option awards	—			—		—		103
Total stock-based compensation expense	$	1,919	$	3,556	$	3,403	$	6,069

The following table provides a summary of the Deferred Awards activity for the 26 weeks ended July 29, 2022:

	Deferred Awards
(in thousands, except per share amounts)	Number of Shares			Weighted Average Grant Date Fair Value per Share
Unvested deferred awards as of January 28, 2022		913		$	14.60
Granted		373			20.65
Vested		(390	)		14.13
Forfeited or expired		(66	)		16.67
Unvested deferred awards as of July 29, 2022		830			17.38

Total unrecognized stock-based compensation expense related to unvested Deferred Awards was approximately $9.8 million as of July 29, 2022, which is expected to be recognized ratably over a weighted average period of 2.1 years. Deferred Awards granted to employees during the 26 weeks ended July 29, 2022 vest ratably over a period of three years.

The following table provides a summary of the Performance Awards activity for the 26 weeks ended July 29, 2022:

	Performance Awards
(in thousands, except per share amounts)	Number of Shares			Weighted Average Grant Date Fair Value per Share
Unvested performance awards as of January 28, 2022		436		$	21.15
Granted ⁽¹⁾		248			20.65
Vested		(270	)		15.73
Forfeited or expired		(38	)		24.39
Unvested performance awards as of July 29, 2022		376			24.39

⁽¹⁾	Performance shares granted assume achievement performance at 100% of target.

Total unrecognized stock-based compensation expense related to unvested Performance Awards was approximately $6.1 million as of July 29, 2022, which is expected to be recognized ratably over a weighted average period of 2.2 years. Performance Awards granted to employees during the 26 weeks ended July 29, 2022 vest, if earned, after completion of the applicable three-year performance period.

There were no unvested Option Awards as of July 29, 2022. The Option Awards have a life of ten years and vested ratably over the first four years. As of July 29, 2022, 343,135 shares related to Option Awards were exercisable. No options have been exercised as of July 29, 2022.

Stockholders’ Equity

6 Months Ended

Jul. 29, 2022

Stockholders Equity Note [Abstract]

Stockholders' Equity

NOTE 7. STOCKHOLDERS’ EQUITY

Share Repurchase Program

On June 28, 2022, the Company announced that its Board of Directors authorized the Company to repurchase up to $50.0 million of the Company’s common stock through February 2, 2024 (the “Share Repurchase Program”). Under the Share Repurchase Program, the Company may repurchase its common stock through open market purchases, in privately negotiated transactions, or by other means in accordance with federal securities laws, including Rule 10b-18 of the Exchange Act. The amount and timing of purchases will be determined by the Company’s management depending upon market conditions and other factors and may be made pursuant to a Rule 10b5-1 trading plan. The Share Repurchase Program may be suspended or discontinued at any time. As of July 29, 2022, additional purchases of up to $47.6 million could be made under the Share Repurchase Program.

The following table summarizes the Company’s share repurchases through July 29, 2022:

	13 Weeks Ended				26 Weeks Ended
(Shares and $ in thousands except average per share cost)	July 29, 2022		July 30, 2021		July 29, 2022		July 30, 2021
Number of shares repurchased		212		—		212		—
Total cost	$	2,353		—	$	2,353		—
Average per share cost	$	11.10		—	$	11.10		—

The Company retired all shares that were repurchased through the Share Repurchase Program during Second Quarter 2022. In accordance with the FASB ASC 505—Equity, the par value of the shares retired was charged against Common stock and the remaining purchase price was allocated between Additional paid-in capital and Retained earnings. The portion charged against Additional paid-in capital is determined based on the Additional paid-in capital per share amount recorded in the initial issuance of the shares with the remaining to Retained earnings. The total cost of the broker commissions is charged directly to Retained earnings. For all shares retired in the Second Quarter 2022, $0.1 million was charged to Retained earnings.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

Other Current Liabilities

6 Months Ended

Jul. 29, 2022

Other Liabilities Disclosure [Abstract]

Other Current Liabilities

NOTE 8. OTHER CURRENT LIABILITIES

Other current liabilities consisted of the following:

(in thousands)	July 29, 2022		July 30, 2021		January 28, 2022
Deferred gift card revenue	$	31,444	$	28,341	$	33,070
Accrued employee compensation and benefits		24,817		45,413		58,833
Reserve for sales returns and allowances		19,857		17,432		23,421
Accrued taxes		7,863		10,592		11,999
Deferred revenue		9,757		18,355		8,560
Other		7,277		10,152		10,380
Total other current liabilities	$	101,015	$	130,285	$	146,263

Fair Value Measurements of Financial Assets and Liabilities

6 Months Ended

Jul. 29, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements of Financial Assets and Liabilities

NOTE 9. FAIR VALUE MEASUREMENTS OF FINANCIAL ASSETS AND LIABILITIES

Restricted cash is reflected on the Condensed Consolidated Balance Sheets at fair value. The fair value of restricted cash was $2.1 million as of July 29, 2022 and July 30, 2021, respectively, and $1.8 million as of January 28, 2022, based on Level 1 inputs. Restricted cash amounts are valued based upon statements received from financial institutions.

Carrying values and fair values of long-term debt, including current portion, in the Condensed Consolidated Balance Sheets are as follows:

July 29, 2022

July 30, 2021

January 28, 2022

(in thousands)

Carrying

Amount

Fair

Value

Carrying

Amount

Fair

Value

Carrying

Amount

Fair

Value

Long-term debt, including current portion

250,938

239,079

264,688

263,030

257,813

256,439

Long-term debt, including current portion, was valued utilizing Level 3 valuation techniques based on a third-party valuation model to complete the analysis on July 29, 2022, July 30, 2021 and January 28, 2022. There were no nonfinancial assets or nonfinancial liabilities recognized at fair value on a nonrecurring basis as of July 29, 2022, July 30, 2021 and January 28, 2022.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Income Taxes

6 Months Ended

Jul. 29, 2022

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 10. INCOME TAXES

Provision for Income Taxes

At the end of each quarter, the Company estimates its effective income tax rate pursuant to ASC 740. The rate for the period consists of the tax rate expected to be applied for the full year to ordinary income adjusted for any discrete items recorded in the period.

The Company recorded a tax benefit at an overall effective tax rate of 29.8% for the 13 weeks ended July 29, 2022 and a tax expense at an overall effective tax rate of 28.3% for the 13 weeks ended July 30, 2021. The Company recorded a tax benefit at an overall rate of 36.9% for the 26 weeks ended July 29, 2022 and tax expense at an overall effective tax rate of 26.4% for the 26 weeks ended July 30, 2021. The overall effective tax rate for the 26 weeks ended July 29, 2022 reflects a tax benefit as a result of stock-based compensation recorded in the first quarter.

On August 16, 2022, the Inflation Reduction Act (“IRA”) was signed into law. Provisions of the IRA include a 15% corporate minimum tax and a 1% excise tax on stock buybacks amongst others. The Company is assessing the impacts, if any, the IRA will have on its financial statements.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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+ Details

Commitments and Contingencies

6 Months Ended

Jul. 29, 2022

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

NOTE 11. COMMITMENTS AND CONTINGENCIES

Legal Proceedings

The Company is party to various claims, legal proceedings and investigations arising in the ordinary course of business. Some of these actions involve complex factual and legal issues and are subject to uncertainties. At this time, the Company is not able to either predict the outcome of these legal proceedings or reasonably estimate a potential range of loss with respect to the proceedings. While it is not feasible to predict the outcome of such pending claims, proceedings and investigations with certainty, management is of the opinion that their ultimate resolution should not have a material adverse effect on results of operations, cash flows or financial position taken as a whole.

As disclosed in the Company’s Annual Report on Form 10-K for the year ended January 28, 2022, the Company is the defendant in three separate lawsuits, each of which allege adverse health events and personal property damage as a result of wearing uniforms manufactured by Lands’ End: (1) Gilbert et al. v. Lands’ End, Inc., United States District Court for the Western District of Wisconsin, Civil Action No. 3:19-cv-00823-JDP, complaint filed October 3, 2019; (2) Andrews et al. v. Lands’ End, Inc., United States District Court for the Western District of Wisconsin, Civil Action No. 3:19-cv-01066-JDP, complaint filed on December 31, 2019, on behalf of 521 named plaintiffs, later amended to include 1,089 named plaintiffs; and (3) Davis et al. v. Lands’ End, Inc. and Lands’ End Business Outfitters, Inc., United States District Court for the Western District of Wisconsin, Case No. 3:20-cv-00195, complaint filed on March 4, 2020. Plaintiffs in Gilbert, Andrews, and Davis seek nationwide class certification on behalf of similarly situated Delta employees.

By order dated April 20, 2020, the Court consolidated the Gilbert and Andrews cases (the “Consolidated Wisconsin Action”) and stayed the Davis case.

Plaintiffs in the Consolidated Wisconsin Action and Davis each assert that the damages sustained by the members of the proposed class exceed $5,000,000. Plaintiffs in each case seek damages for personal injuries, pain and suffering, severe emotional distress, financial or economic loss, including medical services and expenses, lost income and other compensable injuries. Plaintiffs in the Consolidated Wisconsin Action seek class certification with respect to performance of the uniforms and warranty claims and maintain individual claims for personal injury by numerous named plaintiffs.

On August 18, 2021, the Court ruled on several pending motions in the Consolidated Wisconsin Action. The Court denied Plaintiffs’ motion for class certification with respect to performance of the uniforms and warranty claims. The Court denied Plaintiffs’ motion for partial summary judgment regarding crocking claims and granted Lands’ End’s motion for partial summary judgment related to certain warranty claims. In addition, giving effect to both the addition and voluntary dismissal of individual plaintiffs over the course of the litigation, the number of individual plaintiffs had been reduced from 1,089 to 603 as of August 18, 2021. On September 1, 2021, Plaintiffs filed a Rule 23(f) petition, seeking interlocutory review of the Court’s decision denying class certification. On September 22, 2021, the U.S. Court of Appeals for the Seventh Circuit denied plaintiffs’ petition.

On July 8, 2022, the Court issued an Opinion and Order (the “July 8 Opinion”), ruling in the Company’s favor on several additional pending motions. The Court granted the Company’s motion to exclude Plaintiffs’ expert opinions because the opinions were not based on reliably applied and scientifically valid methods. Accordingly, because Plaintiffs failed to submit evidence

sufficient to show that the uniforms were defective or that a defect in the uniforms caused Plaintiffs’ alleged health problems, the Court granted the Company’s motion for summary judgement on Plaintiffs’ personal injury claims.

After giving effect to the July 8 Opinion, the remaining claims under the Consolidated Wisconsin Action relate to claims for property damage and breach of warranty. Lands’ End continues to vigorously defend these lawsuits and believes they are without merit.

Segment Reporting

6 Months Ended

Jul. 29, 2022

Segment Reporting [Abstract]

Segment Reporting

NOTE 12. SEGMENT REPORTING

The Company’s operating segments consist of: U.S. eCommerce, Europe eCommerce, Japan eCommerce, Outfitters, Third Party and Retail. The Company determined that each of the operating segments have similar economic and other qualitative characteristics, thus the results of the operating segments are aggregated into one reportable external segment.

Lands’ End identifies five separate distribution channels for revenue reporting purposes:

•

U.S. eCommerce offers products through the Company’s eCommerce website.

•

International offers products primarily to consumers located in Europe and Japan through eCommerce international websites and third-party affiliates.

•

Outfitters sells uniform and logo apparel to businesses and their employees, as well as to student households through school relationships, located primarily in the U.S.

•

Third Party sells the same products as U.S. eCommerce but direct to consumers through third-party marketplace websites and through domestic wholesale customers.

•

Retail sells products through Company Operated stores.

Net revenue is presented by distribution channel in the following table:

	13 Weeks Ended				26 Weeks Ended
(in thousands)	July 29, 2022		July 30, 2021		July 29, 2022		July 30, 2021
Net revenue:
U.S. eCommerce	$	203,288	$	237,618	$	378,181	$	441,191
International		36,373		47,819		80,551		104,263
Outfitters		70,669		65,633		124,631		106,313
Third Party		27,290		19,098		48,932		30,902
Retail		13,558		13,941		22,548		22,737
Total Net revenue	$	351,178	$	384,109	$	654,843	$	705,406

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Revenue

6 Months Ended

Jul. 29, 2022

Revenue From Contract With Customer [Abstract]

Revenue

NOTE 13. REVENUE

Revenue includes sales of merchandise and delivery revenue related to merchandise sold. Substantially all of the Company’s revenue is recognized when control of product passes to customers, which for the U.S. eCommerce, International, Outfitters and Third Party distribution channels is when the merchandise is received by the customer and for the Retail distribution channel is at the time of sale in the store. The Company recognizes revenue, including shipping and handling fees billed to customers, in the amount expected to be received when control of the Company's products transfers to customers, and is presented net of various forms of promotions, which range from contractually-fixed percentage price reductions to sales returns, discounts, and other incentives that may vary in amount. Variable amounts are estimated based on an analysis of historical experience and adjusted as better estimates become available.

The Company’s revenue is disaggregated by distribution channel and geographic location. Revenue by distribution channel is presented in Note 12, Segment Reporting. Revenue by geographic location was:

	13 Weeks Ended				26 Weeks Ended
(in thousands)	July 29, 2022		July 30, 2021		July 29, 2022		July 30, 2021
Net revenue:
United States	$	310,151	$	330,890	$	565,425	$	591,296
Europe		29,311		38,019		65,440		84,906
Asia		7,742		10,490		16,439		20,549
Other		3,974		4,710		7,539		8,655
Total Net revenue	$	351,178	$	384,109	$	654,843	$	705,406

Contract Liabilities

Contract liabilities consist of payments received in advance of the transfer of control to the customer. As products are delivered and control transfers, the Company recognizes the deferred revenue in Net revenue in the Condensed Consolidated Statements of Operations. The following table summarizes the deferred revenue associated with payments received in advance of the transfer of control to the customer, which is reported in Other current liabilities in the Condensed Consolidated Balance Sheets, as well as amounts recognized through Net revenue for each period presented. The majority of deferred revenue as of July 29, 2022 is expected to be recognized in Net revenue in the fiscal quarter ending October 28, 2022, as products are delivered to customers.

	13 Weeks Ended						26 Weeks Ended
(in thousands)	July 29, 2022			July 30, 2021			July 29, 2022			July 30, 2021
Deferred revenue beginning of period	$	6,074		$	25,374		$	8,560		$	17,187
Deferred revenue recognized in period		(5,860	)		(25,160	)		(8,346	)		(16,973	)
Revenue deferred in period		9,543			18,141			9,543			18,141
Deferred revenue end of period	$	9,757		$	18,355		$	9,757		$	18,355

Revenue from gift cards is recognized when (i) the gift card is redeemed by the customer for merchandise, or (ii) as gift card breakage, an estimate of gift cards which will not be redeemed where the Company does not have a legal obligation to remit the value of the unredeemed gift cards to the relevant jurisdictions. Gift card breakage is recorded within Net revenue in the Condensed Consolidated Statements of Operations. Prior to their redemption, gift cards are recorded as a liability and included within Other current liabilities in the Condensed Consolidated Balance Sheets. The liability is estimated based on expected breakage that considers historical patterns of redemption. The following table provides the reconciliation of the contract liability related to gift cards:

	13 Weeks Ended						26 Weeks Ended
(in thousands)	July 29, 2022			July 30, 2021			July 29, 2022			July 30, 2021
Balance as of beginning of period	$	32,015		$	27,466		$	33,070		$	26,798
Gift cards sold		17,042			13,949			31,670			24,996
Gift cards redeemed		(17,245	)		(12,963	)		(32,713	)		(23,228	)
Gift card breakage		(368	)		(111	)		(583	)		(225	)
Balance as of end of period	$	31,444		$	28,341		$	31,444		$	28,341

Refund Liabilities

Refund liabilities, primarily associated with product sales returns and retrospective volume rebates, represent variable consideration and are estimated and recorded as a reduction to Net revenue based on historical experience. As of July 29, 2022, July 30, 2021 and January 28, 2022, $19.9 million, $17.4 million and $23.4 million, respectively, of refund liabilities, primarily associated with product returns, were reported in Other current liabilities in the Condensed Consolidated Balance Sheets. An asset for product returns is recorded in Prepaid expenses and other current assets in the Condensed Consolidated Balance Sheets.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Subsequent Event

6 Months Ended

Jul. 29, 2022

Subsequent Events [Abstract]

Subsequent Event

NOTE 14. SUBSEQUENT EVENT

In July 2022, the Board of Directors approved a plan to wind down and cease operations of Lands’ End Japan KK. Lands’ End Japan KK represents the Japan eCommerce operating segment. For a discussion of this operating segment, see Note 12, Segment Reporting. The closing and subsequent disposal of the assets does not represent a strategic shift with a major effect on the consolidated financial condition of the Company. While the incremental costs associated with the closing cannot be estimated at this time, based on current information the Company does not expect these costs will have a material impact on our Condensed Consolidated Financial Statements and disclosures.

Recent Accounting Pronouncements (Policies)	6 Months Ended
Recent Accounting Pronouncements (Policies)	Jul. 29, 2022
Accounting Changes And Error Corrections [Abstract]
Recent Accounting Pronouncements	There were no new accounting standards adopted that had an impact on the Company’s financial statements during the 26 weeks ended July 29, 2022.

Earnings (Loss) Per Share (Tables)

6 Months Ended

Jul. 29, 2022

Earnings Per Share [Abstract]

Schedule of Components of Basic and Diluted EPS

The following table summarizes the components of basic and diluted EPS:

	13 Weeks Ended					26 Weeks Ended
(in thousands, except per share amounts)	July 29, 2022			July 30, 2021		July 29, 2022			July 30, 2021
Net (loss) income	$	(2,179	)	$	16,221	$	(4,550	)	$	18,860

Basic weighted average common shares outstanding		33,361			32,979		33,262			32,875
Dilutive effect of stock awards		—			734		—			835
Diluted weighted average common shares outstanding		33,361			33,713		33,262			33,710

Basic (loss) earnings per share	$	(0.07	)	$	0.49	$	(0.14	)	$	0.57
Diluted (loss) earnings per share	$	(0.07	)	$	0.48	$	(0.14	)	$	0.56

Other Comprehensive (Loss) Income (Tables)

6 Months Ended

Jul. 29, 2022

Equity [Abstract]

Schedule of Other Comprehensive (Loss) Income

Other comprehensive (loss) income encompasses all changes in equity other than those arising from transactions with stockholders and is comprised solely of foreign currency translation adjustments.

	13 Weeks Ended						26 Weeks Ended
(in thousands)	July 29, 2022			July 30, 2021			July 29, 2022			July 30, 2021
Beginning balance: Accumulated other comprehensive (loss) (net of tax of $4,184, $2,900, $3,361 and $2,987, respectively)	$	(15,736	)	$	(10,910	)	$	(12,642	)	$	(11,221	)
Other comprehensive (loss) income:
Foreign currency translation adjustments (net of tax of $223, $10, $1,046 and $(77), respectively)		(843	)		(36	)		(3,937	)		275
Ending balance: Accumulated other comprehensive (loss) (net of tax of $4,407, $2,910, $4,407 and $2,910, respectively)	$	(16,579	)	$	(10,946	)	$	(16,579	)	$	(10,946	)

Debt (Tables)

6 Months Ended

Jul. 29, 2022

Debt Disclosure [Abstract]

Summary of Company's Borrowing Availability Under ABL Facility

The following table summarizes the Company’s borrowing availability, before consideration of the Loan Cap, under the ABL Facility:

	July 29, 2022			July 30, 2021			January 28, 2022
(in thousands)	Amount		Interest Rate	Amount		Interest Rate	Amount		Interest Rate
ABL Facility maximum borrowing	$	275,000		$	275,000		$	275,000
Less: Outstanding borrowings		135,000	3.51%		25,000	2.75%		—	―%
Less: Outstanding letters of credit		13,828			16,693			23,521
Borrowing availability under ABL Facility	$	126,172		$	233,307		$	251,479

Schedule of Company's Long Term Debt

The Company’s long-term debt consisted of the following:

	July 29, 2022			July 30, 2021			January 28, 2022
(in thousands)	Amount		Interest Rate	Amount		Interest Rate	Amount		Interest Rate
Term Loan Facility	$	250,938	12.12%	$	264,688	10.75%	$	257,813	10.75%
Less: Current portion of long-term debt		13,750			13,750			13,750
Less: Unamortized debt issuance costs		8,240			10,918			9,589
Long-term debt, net	$	228,948		$	240,020		$	234,474

Stock-Based Compensation (Tables)

6 Months Ended

Jul. 29, 2022

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Stock-Based Compensation Expense

	13 Weeks Ended				26 Weeks Ended
(in thousands)	July 29, 2022		July 30, 2021		July 29, 2022		July 30, 2021
Deferred awards	$	1,350	$	1,484	$	2,905	$	2,845
Performance awards		569		2,072		498		3,121
Option awards	—			—		—		103
Total stock-based compensation expense	$	1,919	$	3,556	$	3,403	$	6,069

Summary of Deferred Awards Activity

The following table provides a summary of the Deferred Awards activity for the 26 weeks ended July 29, 2022:

	Deferred Awards
(in thousands, except per share amounts)	Number of Shares			Weighted Average Grant Date Fair Value per Share
Unvested deferred awards as of January 28, 2022		913		$	14.60
Granted		373			20.65
Vested		(390	)		14.13
Forfeited or expired		(66	)		16.67
Unvested deferred awards as of July 29, 2022		830			17.38

Summary of Performance Awards Activity

The following table provides a summary of the Performance Awards activity for the 26 weeks ended July 29, 2022:

	Performance Awards
(in thousands, except per share amounts)	Number of Shares			Weighted Average Grant Date Fair Value per Share
Unvested performance awards as of January 28, 2022		436		$	21.15
Granted ⁽¹⁾		248			20.65
Vested		(270	)		15.73
Forfeited or expired		(38	)		24.39
Unvested performance awards as of July 29, 2022		376			24.39

⁽¹⁾	Performance shares granted assume achievement performance at 100% of target.

Stockholders’ Equity (Tables)

6 Months Ended

Jul. 29, 2022

Share Repurchase Program

Equity Class Of Treasury Stock [Line Items]

Summary of Share Repurchases

The following table summarizes the Company’s share repurchases through July 29, 2022:

	13 Weeks Ended				26 Weeks Ended
(Shares and $ in thousands except average per share cost)	July 29, 2022		July 30, 2021		July 29, 2022		July 30, 2021
Number of shares repurchased		212		—		212		—
Total cost	$	2,353		—	$	2,353		—
Average per share cost	$	11.10		—	$	11.10		—

Other Current Liabilities (Tables)

6 Months Ended

Jul. 29, 2022

Other Liabilities Disclosure [Abstract]

Summary of Other Current Liabilities

Other current liabilities consisted of the following:

(in thousands)	July 29, 2022		July 30, 2021		January 28, 2022
Deferred gift card revenue	$	31,444	$	28,341	$	33,070
Accrued employee compensation and benefits		24,817		45,413		58,833
Reserve for sales returns and allowances		19,857		17,432		23,421
Accrued taxes		7,863		10,592		11,999
Deferred revenue		9,757		18,355		8,560
Other		7,277		10,152		10,380
Total other current liabilities	$	101,015	$	130,285	$	146,263

Fair Value Measurements of Financial Assets and Liabilities (Tables)

6 Months Ended

Jul. 29, 2022

Fair Value Disclosures [Abstract]

Schedule of Carrying Values and Fair Values of Long-term Debt, Including Current Portion

Carrying values and fair values of long-term debt, including current portion, in the Condensed Consolidated Balance Sheets are as follows:

July 29, 2022

July 30, 2021

January 28, 2022

(in thousands)

Carrying

Amount

Fair

Value

Carrying

Amount

Fair

Value

Carrying

Amount

Fair

Value

Long-term debt, including current portion

250,938

239,079

264,688

263,030

257,813

256,439

Segment Reporting (Tables)

6 Months Ended

Jul. 29, 2022

Segment Reporting [Abstract]

Summary of Net Revenue by Distribution Channel

Net revenue is presented by distribution channel in the following table:

	13 Weeks Ended				26 Weeks Ended
(in thousands)	July 29, 2022		July 30, 2021		July 29, 2022		July 30, 2021
Net revenue:
U.S. eCommerce	$	203,288	$	237,618	$	378,181	$	441,191
International		36,373		47,819		80,551		104,263
Outfitters		70,669		65,633		124,631		106,313
Third Party		27,290		19,098		48,932		30,902
Retail		13,558		13,941		22,548		22,737
Total Net revenue	$	351,178	$	384,109	$	654,843	$	705,406

Revenue (Tables)

6 Months Ended

Jul. 29, 2022

Revenue From Contract With Customer [Abstract]

Disaggregated of Revenue by Geographic Location

	13 Weeks Ended				26 Weeks Ended
(in thousands)	July 29, 2022		July 30, 2021		July 29, 2022		July 30, 2021
Net revenue:
United States	$	310,151	$	330,890	$	565,425	$	591,296
Europe		29,311		38,019		65,440		84,906
Asia		7,742		10,490		16,439		20,549
Other		3,974		4,710		7,539		8,655
Total Net revenue	$	351,178	$	384,109	$	654,843	$	705,406

Summary of Deferred Revenue

The following table summarizes the deferred revenue associated with payments received in advance of the transfer of control to the customer, which is reported in Other current liabilities in the Condensed Consolidated Balance Sheets, as well as amounts recognized through Net revenue for each period presented. The majority of deferred revenue as of July 29, 2022 is expected to be recognized in Net revenue in the fiscal quarter ending October 28, 2022, as products are delivered to customers.

	13 Weeks Ended						26 Weeks Ended
(in thousands)	July 29, 2022			July 30, 2021			July 29, 2022			July 30, 2021
Deferred revenue beginning of period	$	6,074		$	25,374		$	8,560		$	17,187
Deferred revenue recognized in period		(5,860	)		(25,160	)		(8,346	)		(16,973	)
Revenue deferred in period		9,543			18,141			9,543			18,141
Deferred revenue end of period	$	9,757		$	18,355		$	9,757		$	18,355

Reconciliation of Gift Card Contract Liability

The following table provides the reconciliation of the contract liability related to gift cards:

	13 Weeks Ended						26 Weeks Ended
(in thousands)	July 29, 2022			July 30, 2021			July 29, 2022			July 30, 2021
Balance as of beginning of period	$	32,015		$	27,466		$	33,070		$	26,798
Gift cards sold		17,042			13,949			31,670			24,996
Gift cards redeemed		(17,245	)		(12,963	)		(32,713	)		(23,228	)
Gift card breakage		(368	)		(111	)		(583	)		(225	)
Balance as of end of period	$	31,444		$	28,341		$	31,444		$	28,341

Earnings (Loss) Per Share - Schedule of Components of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jul. 29, 2022	Apr. 29, 2022	Jul. 30, 2021	Apr. 30, 2021	Jul. 29, 2022	Jul. 30, 2021
Earnings Per Share [Abstract]
Net (loss) income	$ (2,179)	$ (2,371)	$ 16,221	$ 2,639	$ (4,550)	$ 18,860
Basic weighted average common shares outstanding	33,361		32,979		33,262	32,875
Dilutive effect of stock awards			734			835
Diluted weighted average common shares outstanding	33,361		33,713		33,262	33,710
Basic (loss) earnings per share	$ (0.07)		$ 0.49		$ (0.14)	$ 0.57
Diluted (loss) earnings per share	$ (0.07)		$ 0.48		$ (0.14)	$ 0.56

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Earnings (Loss) Per Share - Additional Information (Details) - shares	3 Months Ended		6 Months Ended
	Jul. 29, 2022	Jul. 30, 2021	Jul. 29, 2022	Jul. 30, 2021
Earnings Per Share [Abstract]
Anti-dilutive shares excluded from diluted weighted average shares outstanding	1,098,859	89	1,209,586	44

Other Comprehensive (Loss) Income - Schedule of Other Comprehensive (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jul. 29, 2022	Apr. 29, 2022	Jul. 30, 2021	Apr. 30, 2021	Jul. 29, 2022	Jul. 30, 2021
Equity [Abstract]
Beginning balance: Accumulated other comprehensive (loss) (net of tax of $4,184, $2,900, $3,361 and $2,987, respectively)	$ (15,736)	$ (12,642)	$ (10,910)	$ (11,221)	$ (12,642)	$ (11,221)
Other comprehensive (loss) income:
Foreign currency translation adjustments (net of tax of $223, $10, $1,046 and $(77), respectively)	(843)	(3,094)	(36)	311	(3,937)	275
Ending balance: Accumulated other comprehensive (loss) (net of tax of $4,407, $2,910, $4,407 and $2,910, respectively)	$ (16,579)	$ (15,736)	$ (10,946)	$ (10,910)	$ (16,579)	$ (10,946)

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

Other Comprehensive (Loss) Income - Schedule of Other Comprehensive (Loss) (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 29, 2022	Jul. 30, 2021	Jul. 29, 2022	Jul. 30, 2021	Apr. 29, 2022	Jan. 28, 2022	Apr. 30, 2021	Jan. 29, 2021
Equity [Abstract]
Accumulated other comprehensive loss, tax	$ 4,407	$ 2,910	$ 4,407	$ 2,910	$ 4,184	$ 3,361	$ 2,900	$ 2,987
Foreign currency translations adjustments, tax	$ 223	$ 10	$ 1,046	$ (77)

Other Comprehensive (Loss) Income - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 29, 2022	Jul. 30, 2021	Jul. 29, 2022	Jul. 30, 2021
Equity [Abstract]
Amounts reclassified from accumulated other comprehensive (loss)	$ 0	$ 0	$ 0	$ 0

Debt - Additional Information (Details)				6 Months Ended
Debt - Additional Information (Details)	Jul. 31, 2021	Jul. 28, 2021	Sep. 09, 2020 USD ($)	Jul. 29, 2022 USD ($)	Jan. 28, 2022 USD ($)	Jul. 30, 2021 USD ($)
ABL Facility
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity				$ 275,000,000.0	$ 275,000,000	$ 275,000,000
Borrowing base under facility				126,172,000	251,479,000	233,307,000
Borrowing under facility				135,000,000		25,000,000
Line of credit facility, maturity date	Nov. 16, 2022
ABL Facility \| Minimum
Line Of Credit Facility [Line Items]
Line of credit facility, maturity date	Jun. 09, 2025
ABL Facility \| Maximum
Line Of Credit Facility [Line Items]
Line of credit facility, maturity date	Jul. 29, 2026
ABL Facility \| Letter of Credit
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity				70,000,000.0
ABL Facility \| Secured Debt
Line Of Credit Facility [Line Items]
Line of credit facility, commencement date	Jul. 31, 2021
Line of credit facility, unused commitment fee percentage	0.25%
Borrowing under facility				$ 135,000,000.0
Line of credit facility, covenant terms, minimum percentage of loan cap amount				10.00%
Line of credit facility, covenant terms, minimum excess credit availability				$ 15,000,000.0
Line of credit facility, covenant terms, minimum fixed charge coverage ratio				1.0
ABL Facility \| Secured Debt \| LIBOR
Line Of Credit Facility [Line Items]
Variable rate spread on outstanding loans less than $95 million	1.25%
Variable rate spread on outstanding loans equal to or greater than $95 million but less than $180 million	1.50%
Variable rate spread on outstanding loans greater than or equal to $180 million	1.75%
Spread on variable rate	0.00%	0.75%
ABL Facility \| Secured Debt \| Base Rate
Line Of Credit Facility [Line Items]
Variable rate spread on outstanding loans less than $95 million	0.50%
Variable rate spread on outstanding loans equal to or greater than $95 million but less than $180 million	0.75%
Variable rate spread on outstanding loans greater than or equal to $180 million	1.00%
Term Loan Facility
Line Of Credit Facility [Line Items]
Secured debt			$ 275,000,000.0	$ 250,938,000	$ 257,813,000	$ 264,688,000
Debt origination fees			$ 5,100,000
Percentage of original issue discount			3.00%
Percentage of prepayment premium to voluntary prepayments and mandatory prepayments			3.00%
Prepayments premium 3% payment start date			Sep. 09, 2022
Prepayments premium 3% payment end date			Sep. 09, 2023
Percentage of prepayments made			1.00%
Prepayments 1% premium payment start date			Sep. 09, 2023
Prepayments 1% premium payment end date			Sep. 09, 2024
Term Loan Facility \| Fortress Credit Corp
Line Of Credit Facility [Line Items]
Line of credit facility, amortization rate			1.25%
Term Loan Facility \| Secured Debt \| Minimum
Line Of Credit Facility [Line Items]
Federal funds rate				0.00%
Term Loan Facility \| Secured Debt \| Minimum \| Fortress Credit Corp
Line Of Credit Facility [Line Items]
Mandatory prepayment terms, amount equal to borrowers' excess cash flows, percentage			0.00%
Term Loan Facility \| Secured Debt \| Maximum \| Fortress Credit Corp
Line Of Credit Facility [Line Items]
Mandatory prepayment terms, amount equal to borrowers' excess cash flows, percentage			75.00%
Term Loan Facility \| Secured Debt \| Federal Funds Rate
Line Of Credit Facility [Line Items]
Spread on variable rate	0.50%			0.50%
Term Loan Facility \| Secured Debt \| One Month LIBOR
Line Of Credit Facility [Line Items]
Spread on variable rate	1.00%			1.00%
Term Loan Facility \| Secured Debt \| Adjusted LIBOR
Line Of Credit Facility [Line Items]
Spread on variable rate				9.75%
Minimum LIBOR rate				1.00%
Term Loan Facility \| Secured Debt \| Alternate Base Rate
Line Of Credit Facility [Line Items]
Spread on variable rate				8.75%

Debt - Summary of Company's Borrowing Availability Under ABL Facility (Details) - ABL Facility - USD ($)	6 Months Ended
	Jul. 29, 2022	Jul. 30, 2021	Jan. 28, 2022
Line Of Credit Facility [Line Items]
ABL Facility maximum borrowing	$ 275,000,000.0	$ 275,000,000	$ 275,000,000
Less: Outstanding borrowings	135,000,000	25,000,000
Less: Outstanding letters of credit	13,828,000	16,693,000	23,521,000
Borrowing availability under ABL Facility	$ 126,172,000	$ 233,307,000	$ 251,479,000
Interest Rate	3.51%	2.75%

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Debt - Schedule of Company's Long Term Debt (Details) - USD ($) $ in Thousands	Jul. 29, 2022	Jan. 28, 2022	Jul. 30, 2021	Sep. 09, 2020
Line Of Credit Facility [Line Items]
Less: Current portion of long-term debt	$ 13,750	$ 13,750	$ 13,750
Less: Unamortized debt issuance costs	8,240	9,589	10,918
Long-term debt, net	228,948	234,474	240,020
Term Loan Facility
Line Of Credit Facility [Line Items]
Secured debt	$ 250,938	$ 257,813	$ 264,688	$ 275,000
Debt instrument, interest rate, stated percentage	12.12%	10.75%	10.75%

Stock-Based Compensation - Additional Information (Details) $ in Millions	6 Months Ended
	Jul. 29, 2022 USD ($) shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target shares earned	100.00%
Performance Awards vested	Mar. 25, 2022
Performance Awards vested percentage	118.00%
Awards Granted during First Quarter 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target shares earned	100.00%
Awards Granted during First Quarter 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target shares earned	114.00%
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target shares earned	50.00%
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Target shares earned	200.00%
Deferred Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	3 years
Compensation expense not yet recognized \| $	$ 9.8
Compensation expense not yet recognized, recognition period	2 years 1 month 6 days
Performance Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	3 years
Compensation expense not yet recognized \| $	$ 6.1
Compensation expense not yet recognized, recognition period	2 years 2 months 12 days
Performance awards period considered	3 years
Option Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	4 years
Options awards expiration period	10 years
Unvested option awards	0
Options awards exercisable	343,135
Options exercised	0

Stock-Based Compensation - Summary of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 29, 2022	Jul. 30, 2021	Jul. 29, 2022	Jul. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation	$ 1,919	$ 3,556	$ 3,403	$ 6,069
Deferred Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation	1,350	1,484	2,905	2,845
Performance Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation	$ 569	$ 2,072	$ 498	3,121
Option Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation				$ 103

Stock-Based Compensation - Summary of Deferred Awards Activity (Details) - Deferred Awards	6 Months Ended
	Jul. 29, 2022 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Unvested deferred awards at beginning of year \| shares	913,000
Number of Shares, Granted \| shares	373,000
Number of Shares, Vested \| shares	(390,000)
Number of Shares, Forfeited \| shares	(66,000)
Number of Shares, Unvested deferred awards at end of quarter \| shares	830,000
Weighted Average Grant Date Fair Value, Unvested deferred awards at beginning of year \| $ / shares	$ 14.60
Weighted Average Grant Date Fair Value, Granted \| $ / shares	20.65
Weighted Average Grant Date Fair Value, Vested \| $ / shares	14.13
Weighted Average Grant Date Fair Value, Forfeited \| $ / shares	16.67
Weighted Average Grant Date Fair Value, Unvested deferred awards at end of quarter \| $ / shares	$ 17.38

Stock-Based Compensation - Summary of Performance Awards Activity (Details) - Performance Awards	6 Months Ended
	Jul. 29, 2022 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Unvested deferred awards at beginning of year \| shares	436,000
Number of Shares, Granted \| shares	248,000
Number of Shares, Vested \| shares	(270,000)
Number of Shares, Forfeited \| shares	(38,000)
Number of Shares, Unvested deferred awards at end of quarter \| shares	376,000
Weighted Average Grant Date Fair Value, Unvested deferred awards at beginning of year \| $ / shares	$ 21.15
Weighted Average Grant Date Fair Value, Granted \| $ / shares	20.65
Weighted Average Grant Date Fair Value, Vested \| $ / shares	15.73
Weighted Average Grant Date Fair Value, Forfeited \| $ / shares	24.39
Weighted Average Grant Date Fair Value, Unvested deferred awards at end of quarter \| $ / shares	$ 24.39

Stock-Based Compensation - Summary of Performance Awards Activity (Parenthetical) (Details)	6 Months Ended
	Jul. 29, 2022
Performance Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance shares target percentage	100.00%

Stockholders Equity - Additional Information (Details) - USD ($)		3 Months Ended	6 Months Ended
	Jun. 28, 2022	Jul. 29, 2022	Jul. 29, 2022
Equity Class Of Treasury Stock [Line Items]
Stock repurchased and retired during period, value		$ 2,357,000
Retained Earnings
Equity Class Of Treasury Stock [Line Items]
Stock repurchased and retired during period, value		98,000
Share Repurchase Program
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, authorized amount	$ 50,000,000.0
Stock repurchase program expiration date	Feb. 02, 2024
Stock repurchase program, additional purchases could be made		47,600,000	$ 47,600,000
Stock repurchased and retired during period, value		2,353,000	$ 2,353,000
Share Repurchase Program \| Retained Earnings
Equity Class Of Treasury Stock [Line Items]
Stock repurchased and retired during period, value		$ 100,000

Stockholder' Equity - Summary of Share Repurchases (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	6 Months Ended
	Jul. 29, 2022	Jul. 29, 2022
Equity Class Of Treasury Stock [Line Items]
Total cost	$ 2,357
Share Repurchase Program
Equity Class Of Treasury Stock [Line Items]
Number of shares repurchased	212	212
Total cost	$ 2,353	$ 2,353
Average per share cost	$ 11.10	$ 11.10

Other Current Liabilities - Summary of Other Current Liabilities (Details) - USD ($) $ in Thousands	Jul. 29, 2022	Apr. 29, 2022	Jan. 28, 2022	Jul. 30, 2021	Apr. 30, 2021	Jan. 29, 2021
Other Liabilities Current [Abstract]
Deferred gift card revenue	$ 31,444	$ 32,015	$ 33,070	$ 28,341	$ 27,466	$ 26,798
Accrued employee compensation and benefits	24,817		58,833	45,413
Reserve for sales returns and allowances	19,857		23,421	17,432
Accrued taxes	7,863		11,999	10,592
Deferred revenue	9,757		8,560	18,355
Other	7,277		10,380	10,152
Total other current liabilities	$ 101,015		$ 146,263	$ 130,285

Fair Value Measurements of Financial Assets and Liabilities - Additional Information (Details) - USD ($)	Jul. 29, 2022	Jan. 28, 2022	Jul. 30, 2021
Nonrecurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Nonfinancial assets fair value disclosure	$ 0	$ 0	$ 0
Nonfinancial liabilities fair value disclosure	0	0	0
Fair Value \| Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Restricted cash fair value	$ 2,100,000	$ 1,800,000	$ 2,100,000

Fair Value Measurements of Financial Assets and Liabilities - Schedule of Carrying Values and Fair Values of Long-term Debt, Including Current Portion (Details) - USD ($) $ in Thousands	Jul. 29, 2022	Jan. 28, 2022	Jul. 30, 2021
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current portion	$ 250,938	$ 257,813	$ 264,688
Fair Value \| Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current portion	$ 239,079	$ 256,439	$ 263,030

Income Taxes - Additional Information (Details)	3 Months Ended		6 Months Ended
Income Taxes - Additional Information (Details)	Jul. 29, 2022	Jul. 30, 2021	Jul. 29, 2022	Jul. 30, 2021	Aug. 16, 2022
Income Tax Examination [Line Items]
Effective income tax expense (benefit), percentage	(29.80%)	28.30%	(36.90%)	26.40%
IRA \| Subsequent Event
Income Tax Examination [Line Items]
Corporate minimum tax percentage					15.00%
Excise tax percentage on stock buybacks					1.00%

Commitments and Contingencies - Additional Information (Details) $ in Thousands	6 Months Ended
	Jul. 29, 2022 USD ($) Lawsuit	Aug. 18, 2021 Plaintiff	Mar. 04, 2020 Plaintiff	Dec. 31, 2019 Plaintiff
Loss Contingencies [Line Items]
Number of lawsuits \| Lawsuit	3
Number of plaintiffs \| Plaintiff		603	1,089	521
Minimum
Loss Contingencies [Line Items]
Damages sustained by proposed members \| $	$ 5,000,000

Segment Reporting - Additional Information (Details)	6 Months Ended
Segment Reporting - Additional Information (Details)	Jul. 29, 2022 Segment Channel
Segment Reporting [Abstract]
Number of reportable segments \| Segment	1
Number of distribution channels for revenue reporting purposes \| Channel	5

Segment Reporting - Summary of Net Revenue by Distribution Channel (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 29, 2022	Jul. 30, 2021	Jul. 29, 2022	Jul. 30, 2021
Segment Reporting Information [Line Items]
Net revenue	$ 351,178	$ 384,109	$ 654,843	$ 705,406
US eCommerce
Segment Reporting Information [Line Items]
Net revenue	203,288	237,618	378,181	441,191
International
Segment Reporting Information [Line Items]
Net revenue	36,373	47,819	80,551	104,263
Outfitters
Segment Reporting Information [Line Items]
Net revenue	70,669	65,633	124,631	106,313
Third Party
Segment Reporting Information [Line Items]
Net revenue	27,290	19,098	48,932	30,902
Retail
Segment Reporting Information [Line Items]
Net revenue	$ 13,558	$ 13,941	$ 22,548	$ 22,737

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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+ Details

Revenue - Disaggregated of Revenue by Geographic Location (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 29, 2022	Jul. 30, 2021	Jul. 29, 2022	Jul. 30, 2021
Disaggregation of Revenue [Line Items]
Net revenue	$ 351,178	$ 384,109	$ 654,843	$ 705,406
United States
Disaggregation of Revenue [Line Items]
Net revenue	310,151	330,890	565,425	591,296
Europe
Disaggregation of Revenue [Line Items]
Net revenue	29,311	38,019	65,440	84,906
Asia
Disaggregation of Revenue [Line Items]
Net revenue	7,742	10,490	16,439	20,549
Other Geographical Location
Disaggregation of Revenue [Line Items]
Net revenue	$ 3,974	$ 4,710	$ 7,539	$ 8,655

- Definition

+ References

+ Details

Revenue - Summary of Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 29, 2022	Jul. 30, 2021	Jul. 29, 2022	Jul. 30, 2021
Revenue From Contract With Customer [Abstract]
Deferred revenue beginning of period	$ 6,074	$ 25,374	$ 8,560	$ 17,187
Deferred revenue recognized in period	(5,860)	(25,160)	(8,346)	(16,973)
Revenue deferred in period	9,543	18,141	9,543	18,141
Deferred revenue end of period	$ 9,757	$ 18,355	$ 9,757	$ 18,355

Revenue - Reconciliation of Gift Card Contract Liability (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 29, 2022	Jul. 30, 2021	Jul. 29, 2022	Jul. 30, 2021
Revenue From Contract With Customer [Abstract]
Balance as of beginning of period	$ 32,015	$ 27,466	$ 33,070	$ 26,798
Gift cards sold	17,042	13,949	31,670	24,996
Gift cards redeemed	(17,245)	(12,963)	(32,713)	(23,228)
Gift card breakage	(368)	(111)	(583)	(225)
Balance as of end of period	$ 31,444	$ 28,341	$ 31,444	$ 28,341

Revenue - Additional Information (Details) - USD ($) $ in Millions	Jul. 29, 2022	Jan. 28, 2022	Jul. 30, 2021
Other Current Liabilities
Deferred Revenue Arrangement [Line Items]
Refund liability	$ 19.9	$ 23.4	$ 17.4