0001558370-21-003547 | 10-K | XBRL Viewer | G III Apparel Group LTD DE

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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Jan. 31, 2021	Mar. 22, 2021	Jul. 31, 2020
Document And Entity Information Abstract
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jan. 31, 2021
Document Transition Report	false
Entity File Number	0-18183
Entity Registrant Name	G III APPAREL GROUP LTD /DE/
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	41-1590959
Entity Address, Address Line One	512 Seventh Avenue
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10018
City Area Code	212
Local Phone Number	403-0500
Title of 12(b) Security	Common Stock
Trading Symbol	GIII
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 431,878,201
Entity Common Stock Shares Outstanding		48,376,636
Entity Central Index Key	0000821002
Current Fiscal Year End Date	--01-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jan. 31, 2021	Jan. 31, 2020
Current assets
Cash and cash equivalents	$ 351,934	$ 197,372
Accounts receivable, net of allowance for doubtful accounts of $17.5 million and $0.7 million, respectively	492,698	530,137
Inventories	416,503	551,918
Prepaid income taxes	26,102	8,566
Prepaid expenses and other current assets	56,803	80,695
Total current assets	1,344,040	1,368,688
Investments in unconsolidated affiliates	63,523	61,987
Property and equipment, net	57,064	76,023
Operating lease assets	186,070	270,032
Other assets, net	38,785	32,629
Other intangibles, net	35,059	38,363
Deferred income tax assets, net	5,098	18,135
Trademarks	443,612	438,658
Goodwill	263,135	260,622
Total assets	2,436,386	2,565,137
Current liabilities
Current portion of notes payable	4,402	673
Accounts payable	139,183	204,786
Accrued expenses	102,787	101,838
Customer refund liabilities	99,355	233,418
Current operating lease liabilities	43,560	63,166
Income tax payable	11,853	8,468
Other current liabilities	862	1,611
Total current liabilities	402,002	613,960
Notes payable, net of discount and unamortized issuance costs	507,950	396,794
Deferred income tax liabilities, net	20,353	7,952
Noncurrent operating lease liabilities	161,668	249,040
Other noncurrent liabilities	7,208	6,719
Total liabilities	1,099,181	1,274,465
Redeemable noncontrolling interests	964
Stockholders' Equity
Preferred stock; 1,000 shares authorized; no shares issued
Common stock - $0.01 par value; 120,000 shares authorized; 49,396 and 49,396 shares issued, respectively	264	264
Additional paid-in capital	448,417	452,142
Accumulated other comprehensive loss	(2,094)	(18,008)
Retained earnings	916,683	893,138
Common stock held in treasury, at cost - 1,019 and 1,386 shares, respectively	(27,029)	(36,864)
Total stockholders' equity	1,336,241	1,290,672
Total liabilities, redeemable noncontrolling interests and stockholders' equity	$ 2,436,386	$ 2,565,137

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) shares in Thousands, $ in Millions	Jan. 31, 2021	Jan. 31, 2020
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts, accrued returns and sales discounts on accounts receivable (in dollars)	$ 17.5	$ 0.7
Preferred stock, shares authorized	1,000	1,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	120,000	120,000
Common stock, shares issued	49,396	49,396
Treasury stock, shares	1,019	1,386

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Income Statement [Abstract]
Net sales	$ 2,055,146	$ 3,160,464	$ 3,076,208
Cost of goods sold	1,310,704	2,042,524	1,969,099
Gross profit	744,442	1,117,940	1,107,109
Selling, general and administrative expenses	605,102	832,180	834,763
Depreciation and amortization	38,625	38,735	38,819
Asset impairments, net of loss (gain) on lease terminations	17,873	19,371	2,813
Operating profit (loss)	82,842	227,654	230,714
Other loss	3,238	(1,149)	(2,960)
Interest and financing charges, net	(50,354)	(44,407)	(43,924)
Income before income taxes	35,726	182,098	183,830
Income tax expense	12,203	38,261	45,763
Net income	23,523	143,837	138,067
Less: Loss attributable to noncontrolling interests	(22)
Net income attributable to G-III Apparel Group, Ltd.	$ 23,545	$ 143,837	$ 138,067
Basic:
Net income (loss) per common share	$ 0.49	$ 2.98	$ 2.81
Weighted average number of shares outstanding (in shares)	48,242	48,209	49,140
Diluted:
Net income per common share	$ 0.48	$ 2.94	$ 2.75
Weighted average number of shares outstanding (in shares)	48,781	48,895	50,274
Other comprehensive income:
Foreign currency translation adjustments	$ (15,885)	$ (2,814)	$ (9,672)
Other comprehensive loss	(15,885)	(2,814)	(9,672)
Comprehensive income	7,638	141,023	128,395
Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest [Abstract]
Net loss	(22)
Foreign currency translation adjustments	(29)
Comprehensive income attributable to noncontrolling interests	(51)
Comprehensive income attributable to G-III Apparel Group, Ltd	$ 7,587	$ 141,023	$ 128,395

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Retained Earnings	Common Stock Held in Treasury	Cumulative Effect, Period of Adoption, Adjustment	Total
Balance at beginning of period (ASC 606) at Jan. 31, 2018				$ (53,728)			$ (53,728)
Balance at beginning of period at Jan. 31, 2018	$ 245	$ 451,844	$ (5,522)		$ 674,542	$ (420)		$ 1,120,689
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity awards exercised/vested, net	19	(1,595)				1,677		101
Share-based compensation expense		19,694						19,694
Taxes paid for net share settlements		(5,738)						(5,738)
Other comprehensive gain/loss, net		(93)	(9,672)					(9,765)
Other comprehensive loss, net								(9,672)
Repurchases of common stock						(20,311)		(20,311)
Net income					138,067			138,067
Balance at end of period (ASC 842) at Jan. 31, 2019				$ (9,580)			$ (9,580)
Balance at end of period at Jan. 31, 2019	264	464,112	(15,194)		758,881	(19,054)		1,189,009
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity awards exercised/vested, net		(17,290)				17,406		116
Share-based compensation expense		17,559						17,559
Taxes paid for net share settlements		(12,239)						(12,239)
Other comprehensive loss, net			(2,814)					(2,814)
Repurchases of common stock						(35,216)		(35,216)
Net income					143,837			143,837
Balance at end of period at Jan. 31, 2020	264	452,142	(18,008)		893,138	(36,864)		1,290,672
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity awards exercised/vested, net		(9,538)				9,835		297
Share-based compensation expense		6,137						6,137
Taxes paid for net share settlements		(324)						(324)
Other comprehensive gain/loss, net			15,914					15,914
Other comprehensive loss, net								(15,885)
Net income					23,545			23,545
Balance at end of period at Jan. 31, 2021	$ 264	$ 448,417	$ (2,094)		$ 916,683	$ (27,029)		$ 1,336,241

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Cash flows from operating activities
Net income attributable to G-III Apparel Group, Ltd.	$ 23,545	$ 143,837	$ 138,067
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	38,625	38,735	38,819
Loss on disposal of fixed assets	1,079	2,500	128
Non-cash operating lease costs	71,368	73,273
Loss (gain) on lease terminations	(2,541)	(2,415)
Asset impairments	20,414	21,787	2,813
Dividend received from unconsolidated affiliate	2,695	3,675
Equity (gain) loss in unconsolidated affiliates	(601)	(3,200)	1,543
Share-based compensation	6,137	17,559	19,694
Deferred financing charges and debt discount amortization	10,014	10,491	10,052
Extinguishment of deferred financing costs	6,503
Deferred income taxes	24,844	319	5,404
Non-cash gains recorded in conjunction with Fabco acquisition	(2,693)
Changes in operating assets and liabilities:
Accounts receivable, net	38,900	(28,003)	(207,877)
Inventories	143,525	24,465	(23,568)
Income taxes, net	(13,795)	(621)	(3,866)
Prepaid expenses and other current assets	24,514	15,929	(47,959)
Other assets, net	(663)	(731)	(6,237)
Customer refund liabilities	(136,436)	(10,172)	177,144
Operating lease liabilities	(86,448)	(79,843)
Accounts payable, accrued expenses and other liabilities	(94,228)	(18,564)	(328)
Net cash provided by operating activities	74,758	209,021	103,829
Cash flows from investing activities
Operating lease assets initial direct costs	(4,093)	(2,104)
Capital expenditures	(16,035)	(37,990)	(29,205)
Investment in unconsolidated affiliate			(9,951)
Return of capital from unconsolidated affiliate			1,470
Proceeds from sale of a retail store			354
Net cash used in investing activities	(20,128)	(40,094)	(37,332)
Cash flows from financing activities
Repayment of borrowings - revolving facility	(1,291,424)	(2,388,766)	(2,315,935)
Proceeds from borrowings - revolving facility	1,291,424	2,388,766	2,303,932
Repayment of borrowings - unsecured term loan	(300,530)	(504)
Proceeds from borrowings - unsecured term loan	8,883	3,362
Proceeds from borrowings - senior secured notes	400,000
Payment of financing costs	(13,551)
Proceeds from exercise of equity awards	297	115	101
Purchase of treasury shares		(35,216)	(20,311)
Taxes paid for net share settlements	(324)	(12,239)	(5,738)
Net cash provided by (used in) financing activities	94,775	(44,482)	(37,951)
Foreign currency translation adjustments	5,157	2,789	(4,184)
Net increase (decrease) in cash and cash equivalents	154,562	127,234	24,362
Cash and cash equivalents at beginning of year	197,372	70,138	45,776
Cash and cash equivalents at end of year	351,934	197,372	70,138
Cash payments:
Interest, net	16,418	34,311	35,807
Income tax payments, net	$ 1,971	$ 39,020	$ 44,045

SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Jan. 31, 2021

Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

NOTE A — SIGNIFICANT ACCOUNTING POLICIES

A summary of the significant accounting policies consistently applied in the preparation of the accompanying consolidated financial statements follows:

1. Business Activity and Principles of Consolidation

As used in these financial statements, the term “Company” or “G-III” refers to G-III Apparel Group, Ltd. and its subsidiaries. The Company designs, sources and markets an extensive range of apparel, including outerwear, dresses, sportswear, swimwear, women’s suits and women’s performance wear, as well as women’s handbags, footwear, small leather goods, cold weather accessories and luggage. The Company also operates retail stores and licenses its proprietary brands under several product categories.

The Company consolidates the accounts of all its wholly-owned and majority-owned subsidiaries. Fabco Holding B.V. (“Fabco”) is a Dutch joint venture limited liability company that was 49% owned by the Company through November 30, 2020. Effective December 1, 2020, the Company increased its ownership interest in Fabco to 75% (see Note P – Fabco) and Fabco is treated as a consolidated majority-owned subsidiary. KL North America B.V. (“KLNA”) is a Dutch joint venture limited liability company that is 49% owned by the Company. Karl Lagerfeld Holding B.V. (“KLH”) is a Dutch limited liability company that is 19% owned by the Company. These investments are accounted for using the equity method of accounting. All material intercompany balances and transactions have been eliminated.

Vilebrequin International SA (“Vilebrequin”), a Swiss corporation that is wholly-owned by the Company, KLH, KLNA and Fabco report results on a calendar year basis rather than on the January 31 fiscal year basis used by the Company. Accordingly, the results of Vilebrequin, KLH, KLNA and Fabco are, and will be, included in the financial statements for the year ended or ending closest to the Company’s fiscal year. For example, with respect to the Company’s results for the year ended January 31, 2021, the results of Vilebrequin, KLH, KLNA and Fabco are included for the year ended December 31, 2020. The Company’s retail operations segment reports results on a 52/53-week fiscal year. The Company’s years ended January 31, 2021, 2020 and 2019 were all 52-week fiscal years for the retail operations segment. For fiscal 2021, 2020 and 2019, the retail operations segment year end was January 30, 2021, February 1, 2020 and February 2, 2019, respectively.

Liquidity and Impact of COVID-19

The Company relies on its cash flows generated from operations and the borrowing capacity under its credit facilities to meet the cash requirements of its business. The primary cash requirements of its business are the seasonal buildup in inventory, compensation paid to employees, payments to suppliers in the normal course of business, capital expenditures, maturities of debt and related interest payments and income tax payments. The COVID-19 pandemic resulted in a sharp decline in net sales in the first, second and, to a lesser extent, third and fourth quarters of fiscal 2021. It also resulted in the Company recognizing a net loss in the first and second quarters and a significant reduction in net income in the third and fourth quarters compared to prior years. The Company is focused on preserving its liquidity and managing its cash flow during these unprecedented conditions. The Company had taken preemptive actions to enhance its ability to meet its short-term liquidity needs, including, but not limited to, reducing payroll costs through employee furloughs, job eliminations, salary reductions, reductions in marketing and other discretionary spending, deferring certain lease payments and deferral of capital projects. During the quarter ended October 31, 2020, certain furloughed employees were reinstated and salaries that had been reduced were increased to their pre-pandemic levels. The Company has received royalty relief from certain licensors.

As of January 31, 2021, the Company had cash and cash equivalents of $351.9 million and availability under its revolving credit facility in excess of $450.0 million. The Company believes it has adequate cash flows to meet the cash requirements of its business. As of January 31, 2021, the Company was in compliance with all covenants under its debt agreements.

2. Cash Equivalents

The Company considers all highly liquid investments purchased with a maturity of three months or less to be cash equivalents.

3. Revenue Recognition

Wholesale revenue is recognized when control transfers to the customer. The Company considers control to have been transferred when the Company has transferred physical possession of the product, the Company has a right to payment for the product, the customer has legal title to the product and the customer has the significant risks and rewards of the product. Wholesale revenues are adjusted by variable considerations arising from implicit or explicit obligations. Variable consideration includes trade discounts, end of season markdowns, sales allowances, cooperative advertising, return liabilities and other customer allowances. The Company estimates the anticipated variable consideration and records this estimate as a reduction of revenue in the period the related product revenue is recognized.

Variable consideration is estimated based on historical experience, current contractual and statutory requirements, specific known events and industry trends. The reserves for variable consideration are recorded as customer refund liabilities. Historical return rates are calculated on a product line basis. The remainder of the historical rates for variable consideration are calculated by customer by product lines.

The Company recognizes retail sales when the customer takes possession of the goods and tenders payment, generally at the point of sale. Digital revenues from customers through the Company’s digital platforms are recognized when the customer takes possession of the goods. The Company’s sales are recorded net of applicable sales taxes.

Both wholesale revenues and retail store revenues are shown net of returns, discounts and other allowances.

Licensing revenue is recognized at the higher of royalty earned or guaranteed minimum royalty.

4. Accounts Receivable

In the normal course of business, the Company extends credit to its wholesale customers based on pre-defined credit criteria. Accounts receivable are net of an allowance for doubtful accounts. In circumstances where the Company is aware of a specific customer’s inability to meet its financial obligation (such as in the case of bankruptcy filings, extensive delay in payment or substantial downgrading by credit sources), a specific reserve for bad debts is recorded against amounts due to reduce the net recognized receivable to the amount reasonably expected to be collected. For all other wholesale customers, an allowance for doubtful accounts is determined through analysis of the aging of accounts receivable at the date of the financial statements, assessments of collectability based on historical trends and an evaluation of the impact of economic conditions.

On February 1, 2020, the Company adopted Accounting Standards Update (“ASU”) 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” which had no material impact on the Company’s financial statements. The Company’s financial instruments consist of trade receivables arising from revenue transactions in the ordinary course of business. The Company considers its trade receivables to consist of two portfolio segments: wholesale and retail trade receivables. Wholesale trade receivables result from credit the Company has extended to its wholesale customers based on pre-defined criteria and are generally due within 30 to 60 days. Retail trade receivables

primarily relate to amounts due from third-party credit card processors for the settlement of debit and credit card transactions and are typically collected within 3 to 5 days. See Note D – Allowance For Doubtful Accounts.

5. Inventories

Wholesale inventories are stated at the lower of cost (determined by the first-in, first-out method) or net realizable value, which comprises a significant portion of the Company’s inventory. Retail inventories are valued at the lower of cost or market as determined by the retail inventory method. Vilebrequin inventories are stated at the lower of cost (determined by the weighted average method) or net realizable value.

6. Goodwill and Other Intangibles

Goodwill represents the excess of purchase price over the fair value of net assets acquired in business combinations accounted for under the purchase method of accounting. Goodwill is subject to annual impairment tests using a qualitative evaluation or a quantitative test using an income approach through a discounted cash flow analysis methodology. The discounted cash flow approach requires that certain assumptions and estimates be made regarding industry economic factors and future profitability. Intangible assets deemed to have indefinite lives are not amortized, but are subject to annual impairment tests using a qualitative evaluation or a quantitative test using a relief from royalty method, another form of the income approach. The relief from royalty method requires assumptions regarding industry economic factors and future profitability. Other intangibles with finite lives, including license agreements, trademarks and customer lists are amortized on a straight-line basis over the estimated useful lives of the assets (currently ranging from 5 to 17 years). Impairment charges, if any, on intangible assets with finite lives are recorded when indicators of impairment are present and the discounted cash flows estimated to be derived from those assets are less than the carrying amounts of the assets.

7. Leases

On February 1, 2019, the Company adopted ASC Topic 842 – Leases (“ASC 842”) using the optional transition method to apply the standard as of the effective date. The Company determines if an arrangement is, or contains, a lease at contract inception. Leases with an initial term of 12 months or less are not recorded on the balance sheet. For leases with an initial term greater than 12 months, a lease liability is recorded on the balance sheet at the present value of future payments discounted at the incremental borrowing rate (discount rate) corresponding with the lease term. An operating lease asset is recorded based on the initial amount of the lease liability, plus any lease payments made to the lessor before or at the lease commencement date and any initial direct costs incurred, less any tenant improvement allowance incentives received. The difference between the minimum rents paid and the straight-line rent (deferred rent) is reflected within the associated operating lease asset. The Company has elected to account for lease and non-lease components as a single component.

The lease classification evaluation begins at the commencement date. The lease term used in the evaluation includes the non-cancellable period for which the Company has the right to use the underlying asset, together with renewal option periods when the exercise of the renewal option is reasonably certain or the failure to exercise such option would result in an economic penalty. All of the Company’s leases are classified as operating leases.

On April 10, 2020, the Financial Accounting Standards Board (“FASB”) issued a Staff Q&A to respond to frequently asked questions about accounting for lease concessions related to the effects of the COVID-19 outbreak. Consequently, for lease concessions related to the effects of the COVID-19 outbreak, an entity will not have to analyze each lease to determine whether the enforceable rights and obligations for concessions exist in the contract and can elect to apply or not apply the lease modification guidance to those leases. Entities may make the elections for any lessor-provided concessions related to the effects of the outbreak (e.g., deferrals of lease payments, lease payment forgiveness, cash payments made to the lessee or reduced future lease payments) as long as the concession does not result in a substantial increase in the rights of the lessor or the obligations of the lessee. The Company has elected to not apply the lease modification guidance for

contracts with COVID-19 related rent concessions. As of January 31, 2021, the Company has $3.4 million of deferred lease payments recorded within accounts payable on its consolidated balance sheets.

8. Depreciation and Amortization

Property and equipment are recorded at cost. Depreciation and amortization are computed by the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized using the straight-line method over the life of the lease or the useful life of the improvement, whichever is shorter.

9. Impairment of Long-Lived Assets

All property and equipment and other long-lived assets are reviewed for potential impairment when events or changes in circumstances indicate that the asset’s carrying value may not be recoverable. If such indicators are present, it is determined whether the sum of the estimated undiscounted future cash flows attributable to such assets is less than the carrying value of the assets. A potential impairment has occurred if projected future undiscounted cash flows are less than the carrying value of the assets.

In fiscal 2021, the Company recorded a $20.1 million impairment charge related to the operating lease assets, leasehold improvements and furniture and fixtures at certain Wilsons Leather and G.H. Bass stores, primarily due to the retail restructuring, as well as at certain DKNY and Vilebrequin stores as a result of the performance at these stores.

In fiscal 2020, the Company recorded a $21.8 million impairment charge primarily related to leasehold improvements, furniture and fixtures and operating lease assets at certain of its Wilsons Leather, G.H. Bass and DKNY stores as a result of the performance at these stores.

In fiscal 2019, the Company recorded a $2.8 million impairment charge related to leasehold improvements and furniture and fixtures at certain of our Wilsons Leather, G.H. Bass and DKNY stores as a result of the performance at these stores.

10. Income Taxes

The Company accounts for income taxes and uncertain tax positions in accordance with ASC Topic 740 — Income Taxes (“ASC 740”). Income taxes are accounted for under the liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of differences between the tax bases of assets and liabilities and their financial reporting amounts using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.

ASC 740 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a return, as well as guidance on de-recognition, classification, interest and penalties and financial statement reporting disclosures. It is also the Company's policy to provide for uncertain tax positions and the related interest and penalties based upon management's assessment of whether a tax benefit is more likely than not to be sustained upon examination by tax authorities. To the extent the Company prevails in matters for which a liability for an unrecognized tax benefit is established, or is required to pay amounts in excess of the liability, or when other facts and circumstances change, the Company's effective tax rate in a given financial statement period may be materially affected.

The Tax Cuts and Jobs Act of 2017 (“TCJA”) provides for a reduced corporate income tax rate of 21% and requires that certain income earned by foreign subsidiaries, known as global intangible low-tax income (“GILTI”), must be included in the gross income of their U.S. shareholder. For fiscal 2021, the Company has elected to treat the tax effect of GILTI as a

current period expense. For the current and future tax years, the Company expects other TCJA tax implications to be immaterial.

The United States government enacted the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020, which includes various income tax provisions aimed at providing economic relief. One of those provisions allows any loss generated in 2020 to be carried back to each of the 5 taxable years preceding the taxable year of such a loss. The Company has elected to use this relief and will carry back the 2020 net operating loss to a tax year with a 35% federal rate. Additionally, the CARES Act permits Qualified Improvement Property to qualify for 15-year depreciation and therefore be also eligible for 100 percent first-year bonus depreciation. The Company has elected to take 100% bonus depreciation for all qualified improvement property.

11. Net Income Per Common Share

Basic net income per common share has been computed using the weighted average number of common shares outstanding during each period. Diluted net income per share is computed using the weighted average number of common shares and potential dilutive common shares, consisting of unvested restricted stock unit awards and stock options outstanding during the period. Approximately 182,000, 692,000 and 336,000 shares for the years ended January 31, 2021, 2020 and 2019, respectively, have been excluded from the diluted net income per share calculation. In addition, all share-based payments outstanding that vest based on the achievement of performance and/or market price conditions, and for which the respective performance and/or market price conditions have not been achieved, have been excluded from the diluted per share calculation. The Company issued 0, 8,851 and 168,179 shares of common stock in connection with the exercise or vesting of equity awards during the years ended January 31, 2021, 2020 and 2019, respectively. In addition, the Company re-issued 367,290, 619,651 and 150,809 treasury shares in connection with the vesting of equity awards in fiscal 2021, 2020 and 2019, respectively.

The following table reconciles the numerators and denominators used in the calculation of basic and diluted net income per share:


	Year Ended January 31,
	2021		2020		2019

	(In thousands, except per share amounts)
Net income attributable to G-III Apparel Group, Ltd.	$	23,545	$	143,837	$	138,067
Basic net income per share:
Basic common shares		48,242		48,209		49,140
Basic net income per share	$	0.49	$	2.98	$	2.81

Diluted net income per share:
Basic common shares		48,242		48,209		49,140
Dilutive restricted stock unit awards and stock options		539		686		1,134
Diluted common shares		48,781		48,895		50,274
Diluted net income per share	$	0.48	$	2.94	$	2.75

12. Equity Award Compensation

ASC Topic 718, Compensation — Stock Compensation, requires all share-based payments to employees, including grants of restricted stock unit awards and employee stock options, to be recognized as compensation expense over the service period (generally the vesting period) based on their fair values.

The Company accounts for forfeited awards as they occur as permitted by ASC 718. Ultimately, the actual expense recognized over the vesting period will be for those shares that vested. Restricted stock units (“RSU’s”) are time based awards that do not have market or performance conditions and generally (i) cliff vest after three years or (ii) vest over a

three year period. Performance based restricted stock units (“PRSU’s”) granted to executives prior to fiscal 2020 include (i) market price performance conditions that provide for the award to vest only after the average closing price of the Company’s stock trades above a predetermined market level and (ii) another performance condition that requires the achievement of an operating performance target. PRSU’s generally vest over a two to five year period. Performance stock units (“PSU’s”) were granted to executives in fiscal 2020 and vest after a three year performance period during which certain earnings before interest and taxes and return on invested capital performance standards must be satisfied for vesting to occur. PSU’s are also subject to a lock up period that prevents the sale, contract to sell or transfer of shares for two years subsequent to the date of vesting. RSU’s and employee stock options are expensed on a straight-line basis. PRSU’s are expensed under the requisite acceleration method. PSU’s are expensed under the requisite acceleration method and based on an estimated percentage of achievement of certain pre-established goals.

It is the Company’s policy to grant stock options at prices not less than the fair market value on the date of the grant. Option terms, vesting and exercise periods vary, except that the term of an option may not exceed ten years.

Also, excess tax benefits arising from the lapse or exercise of an equity award are no longer recognized in additional paid-in capital. The assumed proceeds from applying the treasury stock method when computing net income per share is amended to exclude the amount of excess tax benefits that would be recognized in additional paid-in capital.

13. Cost of Goods Sold

Cost of goods sold includes the expenses incurred to acquire, produce and prepare inventory for sale, including product costs, warehouse staff wages, freight in, import costs, packaging materials, the cost of operating the overseas offices and royalty expense. Gross margins may not be directly comparable to those of the Company’s competitors, as income statement classifications of certain expenses may vary by company. Additionally, costs expected to be incurred when products are returned should be accrued for upon the sale of the product as a component of cost of goods sold.

14. Shipping and Handling Costs

Shipping and handling costs consist of warehouse facility costs, third party warehousing, freight out costs, and warehouse supervisory wages and are included in selling, general and administrative expenses. Shipping and handling costs included in selling, general and administrative expenses were $111.8 million, $138.8 million and $125.9 million for the years ended January 31, 2021, 2020 and 2019, respectively.

15. Advertising Costs

The Company expenses advertising costs as incurred and includes these costs in selling, general and administrative expenses. Advertising paid as a percentage of sales under license agreements are expensed in the period in which the sales occur or are accrued to meet guaranteed minimum requirements under license agreements. Advertising expense was $55.3 million, $94.7 million and $87.8 million for the years ended January 31, 2021, 2020 and 2019, respectively. Prepaid advertising, which represents advance payments to licensors for minimum guaranteed payments for advertising under the Company’s licensing agreements, was $8.0 million and $8.7 million at January 31, 2021 and 2020, respectively.

16. Use of Estimates

In preparing financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”), management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. In determining these estimates, management must use amounts that are based upon its informed judgments and best estimates. The Company continually evaluates its estimates, including those related to customer allowances and discounts, product returns, bad debts, inventories, equity awards, income taxes,

carrying values of intangible assets and long-lived assets including right of use assets. Estimates are based on historical experience and on various other assumptions that the Company believes are reasonable under the circumstances. The results of these estimates form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions and conditions.

17. Fair Value of Financial Instruments

GAAP establishes a three-level valuation hierarchy for disclosure of fair value measurements. The determination of the applicable level within the hierarchy for a particular asset or liability depends on the inputs used in its valuation as of the measurement date, notably the extent to which the inputs are market-based (observable) or internally-derived (unobservable). A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels are defined as follows:

Level 1 — inputs to the valuation methodology based on quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2 — inputs to the valuation methodology based on quoted prices for similar assets or liabilities in active markets for substantially the full term of the financial instrument; quoted prices for identical or similar instruments in markets that are not active for substantially the full term of the financial instrument; and model-derived valuations whose inputs or significant value drivers are observable.

Level 3 — inputs to the valuation methodology based on unobservable prices or valuation techniques that are significant to the fair value measurement.

The following table summarizes the carrying values and the estimated fair values of the Company’s debt instruments:



		Carrying Value				Fair Value
		January 31,		January 31,		January 31,		January 31,
Financial Instrument	Level	2021		2020		2021		2020

		(In thousands)
Secured Notes	2	$	400,000	$	—	$	400,000	$	—
Term loan	2		—		300,000		—		300,000
Note issued to LVMH	3		107,869		102,009		101,810		95,126
Unsecured loans	2		9,119		2,860		9,119		2,860
Overdraft facilities	2		3,007		—		3,007		—

The Company’s debt instruments are recorded at their carrying values in its consolidated balance sheets, which may differ from their respective fair values. The carrying amount of the Company’s variable rate debt approximates the fair value, as interest rates change with the market rates. Furthermore, the carrying value of all other financial instruments potentially subject to valuation risk (principally consisting of cash, accounts receivable and accounts payable) also approximates fair value due to the short-term nature of these accounts. On August 7, 2020, the Company refinanced its term loan and revolving credit facility. See Note I – Notes Payable and Other Liabilities.

The 2% note in the principal amount of $125 million (the “LVMH Note”) issued to LVMH Moet Hennessy Louis Vuitton Inc. (“LVMH”) in connection with the acquisition of DKI was issued at a discount of $40.0 million in accordance with ASC 820 — Fair Value Measurements. For purposes of this fair value disclosure, the Company based its fair value estimate for the LVMH Note on the initial fair value as determined at the date of the acquisition of DKI and records the amortization using the effective interest method over the term of the LVMH Note.

The fair value of the LVMH Note was considered a Level 3 valuation in the fair value hierarchy.

Non-Financial Assets and Liabilities

The Company’s non-financial assets that are measured at fair value on a nonrecurring basis include long-lived assets, which consist primarily of property and equipment and operating lease assets. The Company reviews these assets for impairment whenever events or changes in circumstances indicate that their carrying value may not be recoverable. For impaired assets, an impairment loss is recognized equal to the difference between the carrying amount of the asset or asset group and its estimated fair value. For operating lease assets, the Company determines the fair value of the assets by discounting the estimated market rental rates over the remaining term of the lease. These fair value measurements are considered level 3 measurements in the fair value hierarchy. During fiscal 2021, the Company recorded a $20.1 million impairment charge primarily related to operating lease assets, leasehold improvements and furniture and fixtures at certain Wilsons Leather and G.H. Bass stores, primarily due to the retail restructuring, as well as at certain DKNY and Vilebrequin stores as a result of the performance at these stores. During fiscal 2020, the Company recorded a $21.8 million impairment charge primarily related to leasehold improvements, furniture and fixtures and operating lease assets at certain Wilsons Leather, G.H. Bass and DKNY stores as a result of the performance at these stores. In addition, during fiscal 2020, the Company recorded an impairment of $9.6 million, net of tax, in connection with the adoption of ASC 842 – Leases (“ASC 842”) that was recognized through retained earnings.

18. Foreign Currency Translation

Certain of the Company’s international subsidiaries use different functional currencies, which are, for the most part, the local currency. In accordance with the authoritative guidance, assets and liabilities of the Company’s foreign operations are translated from foreign currency into U.S. dollars at period-end rates, while income and expenses are translated at the weighted average exchange rates for the period. The related translation adjustments are reflected as a foreign currency translation adjustment in accumulated other comprehensive loss within stockholders’ equity.

19. Effects of Recently Adopted and Issued Accounting Pronouncements

Recently Adopted Accounting Guidance

In June 2016, the FASB issued ASU 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” This pronouncement changed how entities account for credit impairment for trade and other receivables, as well as for certain financial assets and other instruments. ASU 2016-13 replaced the “incurred loss” model with an “expected loss” model. Under the “incurred loss” model, a loss (or allowance) was recognized only when an event had occurred (such as a payment delinquency) that caused the entity to believe that a loss was probable (i.e., that it had been “incurred”). Under the “expected loss” model, an entity recognizes a loss (or allowance) upon initial recognition of the asset that reflects all future events that may lead to a loss being realized, regardless of whether it is probable that the future event will occur. The “incurred loss” model considered past events and current conditions, while the “expected loss” model includes expectations for the future which have yet to occur. The Company adopted ASU 2016-16 as of February 1, 2020. The adoption of this standard did not result in a material change to the Company’s consolidated financial statements.

In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement,” which made a number of changes meant to add, modify or remove certain disclosure requirements associated with the movement among or hierarchy associated with Level 1, Level 2 and Level 3 fair value measurements. The amendments in ASU 2018-13 modified the disclosure requirements with respect to fair value measurements based on the concepts in FASB Concepts Statement, Conceptual Framework for Financial Reporting—Chapter 8: Notes to Financial Statements, including the consideration of costs and benefits. The amendments to changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs

used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty have been applied prospectively in the initial fiscal year of adoption. All other amendments have been applied retrospectively to all periods presented in the initial year of adoption. The Company adopted the standard effective February 1, 2020. The adoption of this standard did not result in a material change to the Company’s consolidated financial statements.

In August 2018, the FASB issued ASU 2018-15, Customers Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is A Service Contract, which addresses the accounting for implementation costs incurred in a cloud computing arrangement (“CCA”) that is a service contract. ASU 2018-15 aligned the accounting for costs incurred to implement a CCA that is a service arrangement with the guidance on capitalizing costs associated with developing or obtaining internal-use software. Specifically, ASU 2018-15 amended ASC 350 to include in its scope implementation costs of a CCA that is a service contract and clarifies that a customer should apply ASC 350-40 to determine which implementation costs should be capitalized in a CCA that is considered a service contract. The Company adopted the standard effective February 1, 2020. The adoption of this standard did not result in a material change to the Company’s consolidated financial statements.

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (“ASC 848”): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The standard is intended to provide optional expedients and exceptions for applying GAAP to contract modifications and hedging relationships, subject to meeting certain criteria that reference LIBOR or another rate that is expected to be discontinued. The guidance was effective upon issuance, and may be applied prospectively through December 31, 2022. The adoption of this standard did not result in a material change to the Company’s consolidated financial statements.

Accounting Guidance Issued Being Evaluated for Adoption

The Company has reviewed all recently issued accounting pronouncements and concluded that they were either not applicable or not expected to have a significant impact to the consolidated financial statements.

Retail Restructuring

12 Months Ended

Jan. 31, 2021

Retail Restructuring [Abstract]

Retail Restructuring

NOTE B — RETAIL RESTRUCTURING

In June 2020, the Company commenced the restructuring of its retail operations segment including the closing of the Wilsons Leather, G.H. Bass and Calvin Klein Performance stores. In connection with the restructuring of the retail operations segment, the Company incurred an aggregate charge of approximately $100 million related to store operating costs, landlord termination fees, severance costs, store liquidation and closing costs, write-offs related to right-of-use assets and legal and professional fees. The Company’s cash portion of this charge was approximately $65 million.

Restructuring charges are recorded within selling, general and administrative expenses in the Company’s consolidated statements of income and comprehensive income. The following is a reconciliation of the accrual for the period ended January 31, 2021:


	Severance and Benefit Costs		Store Closing Costs		Total

	(In thousands)
Balance at January 31, 2020	$	—	$	—	$	—
Amounts charged to expense		1,257		961		2,218
Cash payments		(1,103)		(280)		(1,383)
Balance at January 31, 2021	$	154	$	681	$	835

The remaining severance and benefit costs and store closing costs are expected to be paid during the first two quarters of fiscal 2022.

Revenue Recognition

12 Months Ended

Jan. 31, 2021

Revenue Recognition [Abstract]

Revenue Recognition

NOTE C — REVENUE RECOGNITION

On February 1, 2018, the Company adopted ASC 606 using the modified retrospective method as of January 31, 2018. The Company recognized a cumulative effect adjustment to the opening balance of stockholders’ equity at February 1, 2018 that reduced stockholders’ equity by $53.7 million, net of tax, as a result of the adoption of ASC 606.

Wholesale revenue is recognized upon the transfer of goods to customers in an amount that reflects the expected consideration to be received in exchange for these goods. The difference between the amount initially billed and the amount collected represents variable consideration. Variable consideration includes trade discounts, end of season markdowns, sales allowances, cooperative advertising, return liabilities and other customer allowances. The Company estimates the anticipated variable consideration and records this estimate as a reduction of revenue in the period the related product revenue is recognized.

The liability recorded in connection with variable consideration has been classified as a current liability under “Customer refund liabilities” in the Consolidated Balance Sheet. Additionally, the Company classifies cooperative advertising as a reduction of net sales in the Consolidated Statements of Income and Comprehensive Income. Costs expected to be incurred when products are returned should be accrued for upon the sale of the product as a component of cost of goods sold.

Disaggregation of Revenue

In accordance with ASC 606, the Company elected to disclose its revenues by segment. Each segment presents its own characteristics with respect to the timing of revenue recognition and the type of customer. In addition, disaggregating revenues using a segment basis is consistent with how the Company’s Chief Operating Decision Maker manages the Company. The Company identified the wholesale operations segment and the retail operations segment as distinct sources of revenue.

Wholesale Operations Segment. Wholesale revenues include sales of products to retailers under owned, licensed and private label brands, as well as sales related to the Vilebrequin business. Wholesale revenues from sales of products are recognized when control transfers to the customer. The Company considers control to have been transferred when the Company has transferred physical possession of the product, the Company has a right to payment for the product, the customer has legal title to the product and the customer has the significant risks and rewards of the product. Wholesale revenues are adjusted by variable considerations arising from implicit or explicit obligations. Wholesale revenues also include revenues from license agreements related to the DKNY, Donna Karan, G.H. Bass, Andrew Marc and Vilebrequin trademarks owned by the Company. As of January 31, 2021, revenues from license agreements represented an insignificant portion of wholesale revenues.

Retail Operations Segment. Retail store revenues are generated by direct sales to consumers through company-operated stores and product sales through the Company’s digital channels for the DKNY, Donna Karan, G.H. Bass, Karl Lagerfeld Paris, Andrew Marc and Wilsons Leather businesses. Prior to completion of the restructuring in fiscal 2021, retail stores primarily consisted of Wilsons Leather, G.H. Bass, DKNY and Karl Lagerfeld Paris retail stores, substantially all of which are operated as outlet stores. Our Wilsons Leather and G.H. Bass stores were closed as a result of the restructuring. Retail operations segment revenues are recognized at the point of sale when the customer takes possession of the goods and tenders payment. Digital revenues primarily consist of sales to consumers through the Company’s digital platforms. Digital revenue is recognized when a customer takes possession of the goods. Retail sales are recorded net of applicable sales tax.

Variable Consideration. The difference between the amount initially billed and the amount collected represents variable consideration. The Company may provide customers with discounts, rebates, credit returns and price reductions. The Company may also contribute to customers’ promotional activities or incur charges for compliance violations. These adjustments to the initial selling price often occur after the sales process is completed.

The Company identified the following elements of variable consideration:

Markdowns. Markdown allowances consist of accommodations in the form of price reductions to wholesale customers for purchased merchandise. In general, markdowns are granted to full price customers, such as department stores. Markdowns may vary year-over-year and are granted based on the performance of Company merchandise at a customer’s retail stores.

Term Discounts. Term discounts represent a discount from the initial wholesale sales price to certain wholesale customers consistent with customary industry practice.

Sales Allowances. Sales allowances are reductions of the selling price agreed upon with wholesale customers. Sales allowances may be contractual or may be granted on a case-by-case basis. Non-contractual sales allowances may be granted in connection with billing adjustments and, in some cases, for product related issues.

Advertising Allowances. Advertising allowances consist of the Company’s financial participation in the promotional efforts of its wholesale customers. Wholesale customers may charge back a portion of the advertising expense incurred against open invoices. Advertising programs are generally agreed upon at the beginning of a season.

Other Allowances. General allowances consist of price reductions granted to a wholesale customer and may relate to the Company’s participation in costs incurred by the customer during the sales process, as well as price differences, shortages and charges for operational non-compliance.

Return of Merchandise. For wholesale customers, the Company may make accommodations for returns of merchandise that is underperforming at a customer’s retail stores. For retail customers, as a matter of Company policy, whether merchandise is purchased at the Company’s stores or on its digital platforms, the consumer generally has up to 90 days to return merchandise from the date of purchase.

Variable consideration is estimated based on historical experience, current contractual and statutory requirements, specific known events and industry trends. The reserves for variable consideration are recorded under customer refund liabilities. As of January 31, 2021 and 2020, customer refund liabilities amounted to $99.4 million and $233.4 million, respectively. Historical return rates are calculated on a product line basis. The remainder of the historical rates for variable consideration are calculated by customer by product lines.

Contract Liabilities

The Company’s contract liabilities, which are recorded within accrued expenses in the accompanying Consolidated Balance Sheets, primarily consist of gift card liabilities and advance payments from licensees. In some of its retail concepts, the Company also offers a limited loyalty program where customers accumulate points redeemable for cash discount certificates that expire 90 days after issuance. Total contract liabilities were $5.9 million at January 31, 2021 and 2020. The Company recognized $4.5 million in revenue for the year ended January 31, 2021 which related to contract liabilities that existed at January 31, 2020. There were no contract assets recorded as of January 31, 2021 and January 31, 2020. Substantially all of the advance payments from licenses as of January 31, 2021 are expected to be recognized as revenue within the next twelve months.

- 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 http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Allowance for Doubtful Accounts

12 Months Ended

Jan. 31, 2021

Allowance for Doubtful Accounts [Abstract]

Allowance for Doubtful Accounts

NOTE D — ALLOWANCE FOR DOUBTFUL ACCOUNTS

to its wholesale customers based on pre-defined criteria and are generally due within 30 to 60 days. Retail trade receivables primarily relate to amounts due from third-party credit card processors for the settlement of debit and credit card transactions and are typically collected within 3 to 5 days.

The Company’s accounts receivable and allowance for doubtful accounts as of January 31, 2021 were:


	January 31, 2021
	Wholesale		Retail		Total

	(In thousands)
Accounts receivable, gross	$	509,010	$	1,147	$	510,157
Allowance for doubtful accounts		(17,429)		(30)		(17,459)
Accounts receivable, net	$	491,581	$	1,117	$	492,698

The allowance for doubtful accounts for wholesale trade receivables is estimated based on several factors. In circumstances where the Company is aware of a specific customer’s inability to meet its financial obligations (such as in the case of bankruptcy filings (including potential bankruptcy filings), extensive delay in payment or substantial downgrading by credit rating agencies), a specific reserve for bad debts is recorded against amounts due from that customer to reduce the net recognized receivable to the amount reasonably expected to be collected. For all other wholesale customers, an allowance for doubtful accounts is determined through analysis of the aging of accounts receivable at the end of the reporting period for financial statements, assessments of collectability based on historical trends and an evaluation of the impact of economic conditions. The Company considers both current and forecasted future economic conditions in determining the adequacy of its allowance for doubtful accounts.

The allowance for doubtful accounts for retail trade receivables is estimated at the credit card chargeback rate applied to the previous 90 days of credit card sales. In addition, the Company considers both current and forecasted future economic conditions in determining the adequacy of its allowance for doubtful accounts.

During the year ended January 31, 2021, the Company recorded a $16.7 million increase in its allowance for doubtful accounts primarily due to allowances recorded against the outstanding receivables of certain department store customers that have publicly announced bankruptcy filings or possible bankruptcy filings. The Company had the following activity in its allowance for credit losses for the year ended January 31, 2021:


	January 31, 2021
	Wholesale		Retail		Total

	(In thousands)
Balance as of January 31, 2020	$	(628)	$	(82)	$	(710)
Provision for credit losses		(16,934)		52		(16,882)
Accounts written off as uncollectible		133		—		133
Balance as of January 31, 2021	$	(17,429)	$	(30)	$	(17,459)

Inventories

12 Months Ended

Jan. 31, 2021

Inventories [Abstract]

Inventories

NOTE E — INVENTORIES

Wholesale inventories, which comprise a significant portion of the Company’s inventory, are stated at the lower of cost (determined by the first-in, first-out method) or net realizable value. Retail inventories are valued at the lower of cost or market as determined by the retail inventory method. Vilebrequin inventories are stated at the lower of cost (determined by the weighted average method) or net realizable value. Substantially all of the Company’s inventories consist of finished goods.

The inventory return asset, which consists of the amount of goods that are anticipated to be returned by customers, represented $22.5 million and $31.0 million at January 31, 2021 and 2020, respectively. The inventory return asset is recorded within prepaid expenses and other current assets as of January 31, 2021 and 2020.

Inventory held on consignment by the Company’s customers totaled $3.5 million and $9.1 million at January 31, 2021 and 2020, respectively. Consignment inventory is stored at the facilities of the Company’s customers. The Company reflects this inventory on its consolidated balance sheets.

PROPERTY AND EQUIPMENT

12 Months Ended

Jan. 31, 2021

Property Plant And Equipment [Abstract]

PROPERTY AND EQUIPMENT

NOTE F — PROPERTY AND EQUIPMENT

Property and equipment consist of:


		January 31,
	Estimated life	2021		2020

		(In thousands)
Machinery and equipment	5 years	$	1,724	$	1,867
Leasehold improvements	3-13 years		74,598		75,808
Furniture and fixtures	3-10 years		100,572		109,284
Computer equipment and software	2-5 years		40,255		41,040
			217,149		227,999
Less: accumulated depreciation			(160,085)		(151,976)
		$	57,064	$	76,023

The Company wrote off fixed assets of $0.4 million and $5.4 million, net of accumulated depreciation, for the years ended January 31, 2021 and 2020. Depreciation expense was $34.0 million, $33.8 million and $33.9 million for the years ended January 31, 2021, 2020 and 2019, respectively. For the year ended January 31, 2021, the Company recorded a $0.8 million impairment charge related to leasehold improvements and furniture and fixtures of certain Wilsons Leather and G.H. Bass stores, primarily due to the retail restructuring, as well as at certain DKNY stores as a result of the performance of these stores. For the year ended January 31, 2020, the Company recorded a $11.5 million impairment charge related to leasehold improvements and furniture and fixtures of certain Wilsons Leather, G.H. Bass and DKNY stores as a result of the performance of these stores. For the year ended January 31, 2019, the Company recorded a $2.8 million impairment charge related to leasehold improvements and furniture and fixtures of certain Wilsons Leather, G.H. Bass and Vilebrequin stores as a result of the performance of these stores.

The Company evaluates long-lived assets, which consist primarily of property and equipment and operating lease assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In the evaluation process, the Company first compares the carrying value of the asset to the estimated future cash flows (undiscounted and without interest charges plus proceeds expected from disposition, if any). If the estimated undiscounted cash flows are less than the carrying value of the asset, the Company needs to determine the fair value of the assets. The Company compares the carrying value of the asset or asset group to its estimated fair value. If the fair value is less than the carrying value, the Company recognizes an impairment charge. The carrying amount of the asset or asset group is reduced to the estimated fair value based on a discounted cash flow valuation. Assets to be disposed of are reported at the lower of the carrying amount of the asset or fair value less costs to sell. The Company reviews retail store assets for potential impairment based on historical cash flows, lease termination provisions and forecasted future retail store operating results. If the Company recognizes an impairment charge for a depreciable long-lived asset, the adjusted carrying amount of the asset becomes its new cost basis and will be depreciated (amortized) over the remaining useful life of that asset.

Leases

12 Months Ended

Jan. 31, 2021

Leases [Abstract]

Leases

NOTE G — LEASES

On February 1, 2019, the Company adopted ASC 842 using the optional transition method to apply the standard as of the effective date and, therefore, the standard has not been applied retroactively to the comparative periods presented in its financial statements. The Company has elected the transition package of three practical expedients permitted within the standard, which eliminates the requirements to reassess prior conclusions about lease identification, lease classification and initial direct costs. Further, the Company elected the short-term lease exception policy, permitting it to not apply the recognition requirements of this standard to short-term leases (i.e. leases with terms of 12 months or less) and an accounting policy to account for lease and non-lease components as a single component.

The Company determines whether an arrangement is, or contains, a lease at contract inception. The Company leases certain retail stores, warehouses, distribution centers, office space and equipment. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The Company recognizes lease expense for these leases on a straight-line basis over the lease term.

Total rent payable is recorded during the lease term, including rent escalations in which the amount of future rent is certain or fixed on the straight-line basis over the term of the lease (including any rent holiday periods beginning upon control of the premises and any fixed payments stated in the lease). For leases with an initial term greater than 12 months, a lease liability is recorded on the balance sheet at the present value of future payments discounted at the incremental borrowing rate (discount rate) corresponding with the lease term. An operating lease asset is recorded based on the initial amount of the lease liability, plus any lease payments made to the lessor before or at the lease commencement date and any initial direct costs incurred, less any tenant improvement allowance incentives received. The difference between the minimum rents paid and the straight-line rent (deferred rent) is reflected within the associated operating lease asset.

The lease classification evaluation begins at the commencement date. The lease term used in the evaluation includes the non-cancellable period for which the Company has the right to use the underlying asset, together with renewal option periods when the exercise of the renewal option is reasonably certain or the failure to exercise such option would result in an economic penalty. All retail store, warehouse, distribution center and office leases are classified as operating leases. The Company does not have any finance leases. Operating lease expense is generally recognized on a straight-line basis over the lease term.

Certain leases contain provisions that require contingent rent payments based upon sales volume (variable lease cost). Contingent rent is accrued each period as the liabilities are incurred.

Most leases are for a term of one to ten years. Some leases include one or more options to renew, with renewal terms that can extend the lease term from one to ten years. Several of the Company’s retail store leases include an option to terminate the lease based on failure to achieve a specified sales volume. The exercise of lease renewal options is generally at the Company’s sole discretion. The exercise of lease termination options is generally by mutual agreement between the Company and the lessor.

Certain of the Company’s lease agreements include rental payments based on a percentage of retail sales over contractual levels and others include rental payments adjusted periodically for inflation. The Company’s leases do not contain any material residual value guarantees or material restrictive covenants.

The Company’s lease assets and liabilities as of January 31, 2021 and 2020 consist of the following:


Leases	Classification	January 31, 2021		January 31, 2020

		(In thousands)
Assets
Operating	Operating lease assets	$	186,070	$	270,032
Total lease assets		$	186,070	$	270,032

Liabilities
Current operating	Current operating lease liabilities	$	43,560	$	63,166
Noncurrent operating	Noncurrent operating lease liabilities		161,668		249,040
Total lease liabilities		$	205,228	$	312,206

The Company’s operating lease assets and operating lease liabilities significantly declined during fiscal 2021 due to the restructuring of the retail operations segment, partially offset by other leasing activity. As a result of this restructuring, the Company closed its Wilsons Leather, G.H. Bass and Calvin Klein Performance stores during fiscal 2021. In addition, during fiscal 2021 the Company recorded a $19.4 million impairment charge related to the operating lease assets at certain Wilsons Leather and G.H. Bass stores, primarily due to the retail restructuring, as well as at certain DKNY and Vilebrequin stores as a result of the performance at these stores. During fiscal 2020, the Company recorded a $9.9 million impairment charge related to the operating lease assets at certain of our Wilsons Leather, G.H. Bass and DKNY stores as a result of the performance of these stores. The Company determines the fair value of operating lease assets by discounting the estimated market rental rates over the remaining term of the lease.

The Company’s leases do not provide the rate of interest implicit in the lease. Therefore, the Company uses its incremental borrowing rate based on the information available at commencement date of each lease in determining the present value of lease payments. For transition purposes, the incremental borrowing rate on February 1, 2019 was used for operating leases that commenced prior to that date.

The Company recorded lease costs of $92.4 million and $98.4 million during the years ended January 31, 2021 and 2020, respectively. Lease costs are recorded within selling, general and administrative expenses in the Company’s consolidated statements of income and comprehensive income. The Company recorded variable lease costs and short-term lease costs of $6.7 million and $16.8 million for the years ended January 31, 2021 and 2020, respectively. Short-term lease costs are immaterial.

As of January 31, 2021, the Company’s maturity of operating lease liabilities in the years ending up to January 31, 2026 and thereafter are as follows:


Year Ending January 31,	Amount
	(In thousands)
2022	$	58,045
2023		51,312
2024		38,408
2025		31,315
2026		24,837
After 2026		55,362
Total lease payments	$	259,279
Less: Interest		54,051
Present value of lease liabilities	$	205,228

As of January 31, 2021, there are no material leases that are legally binding but have not yet commenced.

As of January 31, 2021, the weighted average remaining lease term related to operating leases is 5.7 years. The weighted average discount rate related to operating leases is 8.3%.

Cash paid for amounts included in the measurement of operating lease liabilities is $108.9 million and $100.8 million as of January 31, 2021 and 2020, respectively. Right-of-use assets obtained in exchange for lease obligations were $56.6 million and $27.0 million during the years ended January 31, 2021 and 2020, respectively.

Intangible Assets

12 Months Ended

Jan. 31, 2021

Intangible Assets [Abstract]

Intangible Assets

NOTE H — INTANGIBLE ASSETS

Intangible assets consist of:



January 31, 2021	Estimated Life	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

		(In thousands)
Finite-lived intangible assets
Licenses	14 years	$	19,884	$	(16,959)	$	2,925
Trademarks	8-12 years		2,194		(2,194)		—
Customer relationships	15-17 years		48,430		(17,843)		30,587
Other	5-10 years		8,624		(7,077)		1,547
Total finite-lived intangible assets		$	79,132	$	(44,073)	$	35,059
Indefinite-lived intangible assets
Goodwill							263,135
Trademarks							443,612
Total indefinite-lived intangible assets							706,747
Total intangible assets, net						$	741,806



January 31, 2020	Estimated Life	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

		(In thousands)
Finite-lived intangible assets
Licenses	14 years	$	19,258	$	(16,107)	$	3,151
Trademarks	8-12 years		2,194		(2,194)		—
Customer relationships	15-17 years		48,214		(14,831)		33,383
Other	5-10 years		7,757		(5,928)		1,829
Total finite-lived intangible assets		$	77,423	$	(39,060)	$	38,363
Indefinite-lived intangible assets
Goodwill							260,622
Trademarks							438,658
Total indefinite-lived intangible assets							699,280
Total intangible assets, net						$	737,643

Amortization expense

Amortization expense with respect to finite-lived intangibles amounted to $4.3 million, $4.5 million and $4.6 million for the years ended January 31, 2021, 2020 and 2019, respectively.

The estimated amortization expense with respect to intangibles for the next five years is as follows:


Year Ending January 31,	Amortization Expense
	(In thousands)
2022	$	3,643
2023		3,301
2024		3,074
2025		3,035
2026		3,028

Intangible assets with finite lives are amortized over their estimated useful lives and measured for impairment when events or circumstances indicate that the carrying value may be impaired.

Change in Goodwill

Changes in the amounts of goodwill for each of the years ended January 31, 2021 and 2020 are summarized by reportable segment as follows (in thousands):


	Wholesale		Retail		Total
January 31, 2019	$	261,137		—		261,137
Currency translation		(515)		—		(515)
January 31, 2020		260,622		—		260,622
Currency translation		2,513		—		2,513
January 31, 2021	$	263,135	$	—	$	263,135

Impairment

Goodwill represents the excess of the purchase price and related costs over the value assigned to net tangible and identifiable intangible assets of businesses acquired and accounted for under the purchase method. The Company reviews and tests its goodwill and intangible assets with indefinite lives for impairment at least annually, or more frequently if events or changes in circumstances indicate that the carrying amount of such assets may be impaired. The Company performs its goodwill test as of January 31 of each year using a qualitative evaluation or a quantitative test using an income approach through a discounted cash flow analysis methodology. The discounted cash flow approach requires that certain assumptions and estimates be made regarding industry economic factors and future profitability. The Company also performs its annual test for intangible assets with indefinite lives as of January 31 of each year using a qualitative evaluation or a quantitative test using a relief from royalty method, another form of the income approach. The relief from royalty method requires assumptions regarding industry economic factors and future profitability.

Due to the impact of the COVID-19 pandemic on the Company’s operations, the Company performed a quantitative test of its goodwill as of April 30, 2020 using an income approach through a discounted cash flow analysis methodology. The Company also performed quantitative tests of each of its indefinite-lived intangible assets using a relief from royalty method. There were no impairments identified as of April 30, 2020 as a result of these tests.

The continued impact of the COVID-19 pandemic could give rise to global and regional macroeconomic factors that could impact the Company’s assumptions relating to future net sales, discount rates, tax rates or royalty rates and may result in future impairment charges for indefinite-lived intangible assets.

The fair value of the Company’s goodwill and indefinite-lived intangible assets are considered a Level 3 valuation in the fair value hierarchy.

NOTES PAYABLE AND OTHER LIABILITIES

12 Months Ended

Jan. 31, 2021

Notes Payable and Other Liabilities [Abstract]

NOTES PAYABLE

NOTE I — NOTES PAYABLE AND OTHER LIABILITIES

Long-term debt

Long-term debt consists of the following:


	January 31, 2021		January 31, 2020

	(in thousands)
Secured Notes	$	400,000	$	—
Term loan		—		300,000
Revolving credit facility		—		—
Note issued to LVMH		125,000		125,000
Unsecured loan		9,119		2,860
Overdraft facilities		3,007		—
Subtotal		537,126		427,860
Less: Net debt issuance costs ⁽¹⁾		(7,643)		(7,402)
Debt discount		(17,131)		(22,991)
Current portion of long-term debt		(4,402)		(673)
Total	$	507,950	$	396,794

(1)

Does not include the debt issuance costs, net of amortization, totaling $7.2 million and $4.6 million as of January 31, 2021 and 2020, respectively, related to the revolving credit facility. The debt issuance costs have been deferred and are classified in assets in the accompanying Consolidated Balance Sheets in accordance with ASC 835.

Senior Secured Notes

On August 7, 2020, the Company completed a private debt offering of $400 million aggregate principal amount of its 7.875% Senior Secured Notes due 2025 (the “Notes”). The terms of the Notes are governed by an indenture (the “Indenture”), among the Company, the guarantors party thereto and U.S. Bank, National Association, as trustee and collateral agent (the “Collateral Agent”). The net proceeds of the Notes have been used (i) to repay the Company’s prior term loan facility due 2022, (ii) to pay related fees and expenses and (iii) for general corporate purposes.

The Notes bear interest at a rate of 7.875% per year payable semi-annually in arrears on February 15 and August 15 of each year, commencing on February 15, 2021.

The Notes are unconditionally guaranteed on a senior-priority secured basis by the Company’s current and future wholly-owned domestic subsidiaries that guarantee any of the Company’s credit facilities, including the Company’s ABL facility (the “ABL Facility”) pursuant to the second amended and restated credit agreement (the “ABL Credit Agreement”), or certain future capital markets indebtedness of the Company or guarantors.

The Notes and the related guarantees are secured by (i) first priority liens on the Company’s Cash Flow Priority Collateral (as defined in the Indenture), and (ii) a second-priority lien on the Company’s ABL Priority Collateral (as defined in the Indenture), in each case subject to permitted liens described in the Indenture.

In connection with the issuance of the Notes and execution of the Indenture, the Company and the Guarantors entered into a pledge and security agreement (the “Pledge and Security Agreement”), among the Company, the Guarantors and the Collateral Agent.

The Notes are subject to the terms of the intercreditor agreement which governs the relative rights of the secured parties in respect of the ABL Facility and the Notes (the “Intercreditor Agreement”). The Intercreditor Agreement restricts the actions permitted to be taken by the Collateral Agent with respect to the Collateral on behalf of the holders of the Notes.

The Notes are also subject to the terms of the seller note subordination agreement which governs the relative rights of the secured parties in respect of the Seller Note (as defined therein), the ABL Facility and the Notes.

At any time prior to August 15, 2022, the Company may redeem some or all of the Notes at a price equal to 100% of the principal amount of the Notes redeemed plus accrued and unpaid interest, if any, to, but excluding, the applicable redemption date plus a “make-whole” premium, as described in the Indenture. On or after August 15, 2022, the Company may redeem some or all of the Notes at any time and from time to time at the redemption prices set forth in the Indenture, plus accrued and unpaid interest, if any, to, but excluding, the applicable redemption date. In addition, at any time prior to August 15, 2022, the Company may redeem up to 40% of the aggregate principal amount of the Notes with the proceeds of certain equity offerings at the redemption price set forth in the Indenture, plus accrued and unpaid interest, if any, to, but excluding, the applicable redemption date. In addition, at any time prior to August 15, 2022, during any twelve month period, the Company may redeem up to 10% of the aggregate principal amount of the Notes at a redemption price equal to 103% of the principal amount of the Notes redeemed plus accrued and unpaid interest, if any, to, but excluding, the applicable redemption date.

If the Company experiences a Change of Control (as defined in the Indenture), the Company is required to offer to repurchase the Notes at 101% of the principal amount of such Notes plus accrued and unpaid interest, if any, to, but excluding, the date of repurchase.

The Indenture contains covenants that, among other things, limit the Company’s ability and the ability of its restricted subsidiaries to incur or guarantee additional indebtedness, pay dividends or make other restricted payments, make certain investments, incur restrictions on the ability of the Company’s restricted subsidiaries that are not guarantors to pay dividends or make certain other payments, create or incur certain liens, sell assets and subsidiary stock, impair the security interests, transfer all or substantially all of the Company’s assets or enter into merger or consolidation transactions, and enter into transactions with affiliates. The Indenture provides for customary events of default which include (subject in certain cases to customary grace and cure periods), among others, nonpayment of principal or interest, breach of other agreements in the Indenture, failure to pay certain other indebtedness, failure of certain guarantees to be enforceable, failure to perfect certain collateral securing the Notes failure to pay certain final judgments, and certain events of bankruptcy or insolvency.

The Company incurred debt issuance costs totaling $8.5 million related to the Notes that will be amortized over the term of the Notes. In accordance with ASC 835, the debt issuance costs have been deferred and are presented as a contra-liability, offsetting the outstanding balance of the Notes, and are amortized over the remaining life of the Notes.

Term Loan

The Company had previously borrowed $350.0 million under a senior secured term loan facility (the “Term Loan”) that was scheduled to mature in December 2022. In fiscal 2017, the Company prepaid $50.0 million in principal amount of the Term Loan, reducing the principal balance of the Term Loan to $300.0 million.

On August 7, 2020, the Company used a portion of the proceeds from the issuance of the Notes to repay the outstanding principal balance of $300.0 million under the Term Loan facility. At the date of repayment, the Company had unamortized debt issuance costs of $6.1 million associated with the Term Loan. These debt issuance costs were fully extinguished and charged to interest expense in the Company’s results of operations.

Second Amended and Restated ABL Credit Agreement

On August 7, 2020, the Company’s subsidiaries, G-III Leather Fashions, Inc., Riviera Sun, Inc., CK Outerwear, LLC, AM Retail Group, Inc. and The Donna Karan Company Store LLC (collectively, the “Borrowers”), entered into the ABL Credit Agreement with the Lenders named therein and with JPMorgan Chase Bank, N.A., as Administrative Agent. The ABL

Credit Agreement is a five year senior secured credit facility subject to a springing maturity date if, subject to certain conditions, the LVMH Note is not refinanced or repaid prior to the date that is 91 days prior to the date of any relevant payment thereunder. The ABL Credit Agreement provides for borrowings in the aggregate principal amount of up to $650 million. The Company and its subsidiaries, G-III Apparel Canada ULC, Gabrielle Studio, Inc., Donna Karan International Inc. and Donna Karan Studio LLC (the “Guarantors”), are Loan Guarantors under the ABL Credit Agreement

The ABL Credit Agreement refinances, amends and restates the Amended Credit Agreement, dated as of December 1, 2016 (as amended, supplemented or otherwise modified from time to time prior to August 7, 2020, the “Prior Credit Agreement”), by and among the Borrowers and the Loan Guarantors (each as defined therein) party thereto, the lenders from time to time party thereto, and JPMorgan Chase Bank, N.A., in its capacity as the administrative agent thereunder. The Prior Credit Agreement provided for borrowings of up to $650 million and was due to expire in December 2021. The ABL Credit Agreement extends the maturity date to August 2025, subject to a springing maturity date if, subject to certain conditions, the LVMH Note is not refinanced or repaid prior to the date that is 91 days prior to the date of any relevant payment thereunder.

Amounts available under the ABL Credit Agreement are subject to borrowing base formulas and overadvances as specified in the ABL Credit Agreement. Borrowings bear interest, at the Borrowers’ option, at LIBOR plus a margin of 1.75% to 2.25% or an alternate base rate margin of 0.75% to 1.25% (defined as the greatest of (i) the “prime rate” of JPMorgan Chase Bank, N.A. from time to time, (ii) the federal funds rate plus 0.5% and (iii) the LIBOR rate for a borrowing with an interest period of one month) plus 1.00%, with the applicable margin determined based on Borrowers’ availability under the ABL Credit Agreement. The ABL Credit Agreement is secured by specified assets of the Borrowers and the Guarantors. In addition to paying interest on any outstanding borrowings under the ABL Credit Agreement, the Company is required to pay a commitment fee to the lenders under the credit agreement with respect to the unutilized commitments. The commitment fee accrues at a tiered rate equal to 0.50% per annum on the average daily amount of the available commitments when the average usage is less than 50% of the total available commitments and decreases to 0.35% per annum on the average daily amount of the available commitments when the average usage is greater than or equal to 50% of the total available commitments.

The revolving credit facility contains covenants that, among other things, restrict the Company’s ability, subject to specified exceptions, to incur additional debt; incur liens; sell or dispose of certain assets; merge with other companies; liquidate or dissolve the Company; acquire other companies; make loans, advances, or guarantees; and make certain investments. In certain circumstances, the revolving credit facility also requires the Company to maintain a fixed charge coverage ratio, as defined in the agreement, not less than 1.00 to 1.00 for each period of twelve consecutive fiscal months of the Company. As of January 31, 2021, the Company was in compliance with these covenants.

As of January 31, 2021, the Company had no borrowings outstanding under the ABL Credit Agreement. As of January 31, 2021, interest under the ABL Credit Agreement was being paid at an average rate of 2.04% per annum. The ABL Credit Agreement also includes amounts available for letters of credit. As of January 31, 2021, there were outstanding trade and standby letters of credit amounting to $6.6 million and $3.9 million, respectively.

At the date of the refinancing of the Prior Credit Agreement, the Company had $3.3 million of unamortized debt issuance costs remaining from the Prior Credit Agreement. The Company extinguished and charged to interest expense $0.4 million of the prior debt issuance costs and incurred new debt issuance costs totaling $5.1 million related to the ABL Credit Agreement. The Company has a total of $8.0 million debt issuance costs related to its ABL Credit Agreement. As permitted under ASC 835, the debt issuance costs have been deferred and are presented as an asset which is to be subsequently amortized ratably over the term of the ABL Credit Agreement.

LVMH Note

As a portion of the consideration for the acquisition of DKI, the Company issued to LVMH a junior lien secured promissory note in the principal amount of $125.0 million that bears interest at the rate of 2% per year. $75.0 million of the principal amount of the LVMH Note is due and payable on June 1, 2023 and $50.0 million of such principal amount is due and payable on December 1, 2023.

In connection with the issuance of the LVMH Note, LVMH entered into (i) a subordination agreement providing that the Company’s obligations under the LVMH Note are subordinate and junior to the Company’s obligations under the revolving credit facility and the Term Loan, and (ii) a pledge and security agreement with the Company and its subsidiary, G-III Leather Fashions, Inc., pursuant to which the Company and G-III Leather Fashions, Inc. granted to LVMH a security interest in specified collateral to secure the Company’s payment and performance of the Company’s obligations under the LVMH Note that is subordinate and junior to the security interest granted by the Company with respect to the Company’s obligations under the revolving credit facility agreement and Term Loan.

ASC 820 requires the note to be recorded at fair value at issuance. As a result, the Company recorded a $40.0 million debt discount. This discount is being amortized as interest expense using the effective interest method over the term of the LVMH Note.

Unsecured Loans

During fiscal 2020 and fiscal 2021, T.R.B International SA (“TRB”), a subsidiary of Vilebrequin, borrowed funds under several unsecured loans. A portion of the unsecured loans were to provide funding for operations in the normal course of business, while other unsecured loans were various European state backed loans as part of COVID-19 relief programs. In the aggregate, TRB is currently required to make quarterly installment payments of €0.2 million under these loans. Interest on the outstanding principal amount of the unsecured loans accrues at a fixed rate equal to 0% to 2.0% per annum, payable on either a quarterly or monthly basis. Certain unsecured loans will require monthly installment payments beginning in fiscal 2022 and fiscal 2024. The unsecured loans have maturity dates ranging from September 15, 2024 through October 22, 2026. As of January 31, 2021, TRB had an aggregate outstanding balance of €7.4 million under these various unsecured loans.

Overdraft Facilities

During fiscal 2021, TRB entered into several overdraft facilities that allow for applicable bank accounts to be in a negative position up to a certain maximum overdraft. TRB entered into an uncommitted overdraft facility with HSBC Bank allowing for a maximum overdraft of €5 million. Interest on drawn balances accrues at a rate equal to the Euro Interbank Offered Rate plus a margin of 1.75% per annum, payable quarterly. The facility may be cancelled at any time by TRB or HSBC Bank. As part of a COVID-19 relief program, TRB and its subsidiaries have also entered into several state backed overdraft facilities with UBS Bank in Switzerland for an aggregate of CHF 4.7 million at varying interest rates of 0% to 0.5%. As of January 31, 2021, TRB had an aggregate of €2.5 million drawn under these various facilities.

Future Debt Maturities

As of January 31, 2021, the Company’s mandatory debt repayments mature in the years ending up to January 31, 2026 or thereafter.


Year Ending January 31,	Amount
	(In thousands)
2022	$	4,402
2023		1,718
2024		126,822
2025		2,147
2026 and thereafter		402,037

Accrued expenses

Accrued expenses consist of the following:


	January 31, 2021		January 31, 2020

	(in thousands)
Accrued bonuses	$	23,851	$	40,980
Other accrued expenses		78,936		60,858
Total	$	102,787	$	101,838

INCOME TAXES

12 Months Ended

Jan. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

NOTE J — INCOME TAXES

The income tax provision is comprised of the following:


	Year Ended January 31,
	2021		2020		2019

	(In thousands)
Current
Federal	$	(15,828)	$	22,471	$	23,463
State and city		(491)		4,856		5,907
Foreign		3,803		10,615		10,989
		(12,516)		37,942		40,359
Deferred
Federal		22,770		8,250		4,419
State and city		3,364		315		191
Foreign		(1,415)		(8,246)		794
		24,719		319		5,404
Income tax expense	$	12,203	$	38,261	$	45,763
Income before income taxes
United States	$	37,727	$	138,292	$	137,748
Non-United States		(2,001)		43,806		46,082
	$	35,726	$	182,098	$	183,830

federal rate. Additionally, the CARES Act permits Qualified Improvement Property to qualify for 15-year depreciation and therefore be also eligible for 100 percent first-year bonus depreciation. The Company has elected to take 100% bonus depreciation for all qualified improvement property.

During the fourth quarter of fiscal 2020, the United States Treasury issued final regulations related to certain aspects of the TCJA. The tax implications of the final regulations were not material to the Company’s consolidated financial statements as the majority of the TCJA tax implications were recorded in fiscal years prior to the year ended January 31, 2021.

Effective January 1, 2018, TCJA subjects a U.S. parent company to current tax on its GILTI. At January 31, 2021, there was no net tax impact to the Company for GILTI.

The significant components of the Company’s net deferred tax asset at January 31, 2021 and 2020 are summarized as follows:


	2021		2020

	(In thousands)
Deferred income tax assets:
Compensation	$	2,673	$	8,379
Inventory		6,780		4,498
Provision for bad debts and sales allowances		18,531		34,197
Supplemental employee retirement plan		584		511
Net operating loss		12,703		4,877
Operating lease liability		35,658		67,044
Foreign tax credit carryforward		4,962		—
Other		3,792		1,148
Gross deferred income tax assets		85,683		120,654
Less: valuation allowance		(13,272)		(4,929)
Net deferred income tax assets		72,411		115,725
Deferred income tax liabilities:
Depreciation and amortization		(41,185)		(33,539)
Intangibles		(14,271)		(13,602)
Operating lease asset		(30,182)		(55,801)
Prepaid expenses and other		(2,028)		(2,600)
Total deferred income tax liabilities		(87,666)		(105,542)
Net deferred tax (liabilities) assets	$	(15,255)	$	10,183

The total undistributed earnings of the Company’s foreign subsidiaries are approximately $80.0 million for the fiscal year ended January 31, 2021. Upon distribution of those earnings in the form of dividends, the Company does not anticipate any material tax costs. As such, no deferred taxes have been provided for withholding taxes or other taxes that would result upon repatriation of undistributed foreign earnings. Those earnings are considered indefinitely reinvested. Even though the undistributed earnings can be distributed back generally without U.S. federal income tax as a result of the one-time transition tax under the TCJA regime, the Company does not expect to change its indefinite reinvestment categorization with respect to those earnings.

The following is a reconciliation of the statutory federal income tax rate to the effective rate reported in the financial statements for the years ended January 31:


	2021		2020		2019
Provision for Federal income taxes at the statutory rate	21.0	%	21.0	%	21.0	%
State and local income taxes, net of Federal tax benefit	(0.6)		1.9		2.4
Permanent differences resulting in Federal taxable income	12.8		5.9		6.6
Foreign tax rate differential	(0.3)		(3.8)		0.5
Share-based payments	12.5		(0.8)		(0.6)
Foreign tax credit	(7.3)		(3.5)		(5.5)
Valuation allowance	13.7		0.9		0.2
Net operating loss carryback	(18.6)		—		—
Other, net	1.0		(0.6)		0.3
Actual provision for income taxes	34.2	%	21.0	%	24.9	%

The Company’s effective tax rate increased 13.2% percent in fiscal 2021 compared to fiscal 2020. This increase in the Company’s effective tax rate is primarily the result of the Company’s significant reduction in pretax book income in relation to its tax expense. The Company’s effective tax rate decreased 3.9% percent in fiscal 2020 as compared to fiscal 2019. The decrease in the tax rate is primarily attributable to the Swiss tax reform that was enacted in May 2019.

Valuation allowances represent deferred tax benefits where management is uncertain if the Company will have the ability to recognize those benefits in the future. During the year ended January 31, 2021, the Company recorded an additional valuation allowance of $8.3 million against its deferred tax assets for its standalone state tax losses and foreign retail losses.

Unrecognized Tax Benefits

A reconciliation of the beginning and ending amounts of gross unrecognized tax benefits (excluding interest and penalties) is as follows:



	2021		2020		2019

	(In thousands)
Balance at February 1,	$	2,111	$	—	$	82
Additions for tax positions of prior years		182		2,111		—
Lapses of statues of limitations		—		—		(82)
Balance at January 31,	$	2,293	$	2,111	$	—

The Company accounts for uncertain income tax positions in accordance with ASC 740 — Income Taxes. The Company files income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. As of January 31, 2021, there was an increase in the unrecognized tax position reserve of $0.2 million related to recent state and local tax return filings.

The Company’s policy on classification is to include interest in interest and financing charges, net and penalties in selling, general and administrative expenses in the accompanying Consolidated Statements of Income and Comprehensive Income. The Company and certain of its subsidiaries are subject to U.S. Federal income tax as well as the income tax of multiple state, local, and foreign jurisdictions.

Of the major jurisdictions, the Company and its subsidiaries are subject to examination in the United States and various foreign jurisdictions for fiscal year 2014 and forward. The Company is currently under audit examination by New York, New Jersey and Canada for fiscal years 2014 through 2018. The Company believes that it is reasonably possible there will be no change to its unrecognized income tax position reserves during the next twelve months due to the applicable statues of limitations.

- 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.

+ References + Details

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Jan. 31, 2021

Commitments And Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE K — COMMITMENTS AND CONTINGENCIES

License Agreements

The Company has entered into license agreements that provide for royalty payments based on net sales of licensed products. The Company incurred royalty expense (included in cost of goods sold) of $116.8 million, $178.8 million and $165.7 million for the years ended January 31, 2021, 2020 and 2019, respectively. Contractual advertising expense, which is included in selling, general and administrative expenses and is normally based on a percentage of net sales associated with certain license agreements, was $29.5 million, $48.3 million and $46.2 million for the years ended January 31, 2021, 2020 and 2019, respectively. Based on minimum net sales requirements, future minimum royalty and advertising payments required under these agreements are:


Year Ending January 31,	Amount
	(In thousands)
2022		107,199
2023		91,225
2024		89,474
2025		31,540
2026		25,618
Thereafter		—
	$	345,056

Legal Proceedings

In the ordinary course of business, the Company is subject to periodic claims, investigations and lawsuits. Although the Company cannot predict with certainty the ultimate resolution of claims, investigations and lawsuits, asserted against the Company, it does not believe that any currently pending legal proceeding or proceedings to which it is a party could have a material adverse effect on its business, financial condition or results of operations.

Canadian Customs Duty Examination

In October 2017, the Canada Border Service Agency (“CBSA”) issued a final audit report to G-III Apparel Canada ULC (“G-III Canada”), a wholly-owned subsidiary of the Company. The report challenged the valuation used by G-III Canada for certain goods imported into Canada. The period covered by the examination is February 1, 2014 through October 27, 2017, the date of the final report. The CBSA has requested G-III Canada to reassess its customs entries for that period using the price paid or payable by the Canadian retail customers for certain imported goods rather than the price paid by G-III Canada to the vendor. The CBSA has also requested that G-III Canada change the valuation method used to pay duties with respect to goods imported in the future.

In March 2018, G-III Canada provided a bond to guarantee payment to the CBSA for additional duties payable as a result of the reassessment required by the final audit report. The Company secured a bond in the amount of CAD$26.9 million ($20.9 million) representing customs duty and interest through December 31, 2017 that is claimed to be owed to the CBSA. In March 2018, the Company amended the duties filed for the month of January 2018 under the new valuation method. This amount was paid to the CBSA. Beginning February 1, 2018, the Company began paying duties based on the new valuation method. There were no amounts paid and deferred during the year ended January 31, 2021 related to the higher dutiable values, however, the Company paid interest in the amount of CAD$1.0 million ($0.8 million) on the additional duties for the period January 15, 2018 through November 25, 2020, the date of the CBSA’s final decision as discussed below. Cumulative amounts paid and deferred through January 31, 2021, related to the higher dutiable values, were CAD$14.4 million ($11.6 million).

Effective June 1, 2019, G-III commenced paying based on the dutiable value of G-III Canada’s imports based on the pre-audit levels. G-III continued to defer the additional duty paid through the month of May 2019 pending the final outcome of the appeal.

The CBSA has issued its final decision denying the appeal filed by G-III Canada with the President’s Office of the CBSA. G-III Canada has filed a Notice of Appeal with the Canadian International Trade Tribunal (the “Tribunal”) further appealing the CBSA decision. The Tribunal has confirmed receipt of the Notice of Appeal. The deadline for filing the case brief and evidence is April 13, 2021 and a hearing date has been set for August 10, 2021.

G-III Canada, based on the advice of counsel, believes it has positions that support its valuations for duty as declared and therefore its ability to receive a refund of amounts claimed to be owed to the CBSA on appeal and intends to vigorously contest the findings of the CBSA.

STOCKHOLDERS' EQUITY

12 Months Ended

Jan. 31, 2021

Stockholders' Equity [Abstract]

Stockholders' Equity

NOTE L — STOCKHOLDERS’ EQUITY

Share Repurchase Program

The Company’s Board of Directors has authorized a share repurchase program of 5,000,000 shares. The timing and actual number of shares repurchased, if any, will depend on a number of factors, including market conditions and prevailing stock prices, and are subject to compliance with certain covenants contained in the loan agreement. Share repurchases may take place on the open market, in privately negotiated transactions or by other means, and would be made in accordance with applicable securities laws.

No shares of common stock were acquired pursuant to this program during fiscal 2021. During fiscal 2020, pursuant to this program, the Company acquired 1,327,566 of its shares of common stock for an aggregate purchase price of $35.2 million. During fiscal 2019, the Company acquired 723,072 of its shares of common stock for an aggregate purchase price of $20.3 million.

Long-Term Incentive Plan

As of January 31, 2021, the Company had 1,811,490 shares available for grant under its long-term incentive plan. The plan provides for the grant of equity and cash awards, including restricted stock awards, stock options and other stock unit awards to directors, officers and employees. RSU’s generally (i) cliff vest after three years or (ii) vest over a three year period. PRSU’s granted to executives prior to fiscal 2020 include (i) market price performance conditions that provide for the award to vest only after the average closing price of the Company’s stock trades above a predetermined market level and (ii) another performance condition that requires the achievement of an operating performance target. PSU’s granted to executives in fiscal 2020 vest after a three year performance period during which certain earnings before interest and taxes and return on invested capital performance standards must be satisfied for vesting to occur. PSU’s are also subject to a lock up period that prevents the sale, contract to sell or transfer of shares for two years subsequent to the date of vesting. It is the Company’s policy to grant stock options at prices not less than the fair market value on the date of the grant. Option terms, vesting and exercise periods vary, except that the term of an option may not exceed ten years.

Restricted Stock Units and Performance Based Restricted Stock Units



	Restricted Stock Units			Performance Based Restricted Stock Units
		Weighted Average			Weighted Average
	Awards	Grant Date		Awards	Grant Date
	Outstanding	Fair Value		Outstanding	Fair Value
Unvested as of January 31, 2018	327,014	$	30.59	1,445,563	$	29.26
Granted	137,723	$	38.32	391,530	$	30.23
Vested	(159,663)	$	30.38	(292,266)	$	25.91
Cancelled	(23,249)	$	29.69	(5,033)	$	27.10
Unvested as of January 31, 2019	281,825	$	34.56	1,539,794	$	30.15
Granted	142,594	$	37.74	332,651	$	35.77
Vested	(168,781)	$	32.32	(810,655)	$	24.58
Cancelled	(12,695)	$	35.09	(3,080)	$	42.41
Unvested as of January 31, 2020	242,943	$	37.95	1,058,710	$	36.15
Granted	1,280,664	$	10.25	—	$	—
Vested	(107,917)	$	37.96	(279,053)	$	32.43
Cancelled	(22,422)	$	39.41	(312,827)	$	42.41
Unvested as of January 31, 2021	1,393,268	$	12.47	466,830	$	34.17

Restricted Stock Units

Restricted stock units (“RSU’s”) are time based awards that do not have market or performance conditions and (i) cliff vest after three years or (ii) vest over a three year period. The grant date fair value for RSU’s are based on the quoted market price on the date of grant. Compensation expense for RSU’s is recognized in the consolidated financial statements on a straight-line basis over the service period based on their grant date fair value.

Performance Based Restricted Stock Units

Performance based restricted stock units consist of both performance based restricted stock units (“PRSU’s”) and performance stock units (“PSU’s”).

PRSU’s were granted to executives prior to fiscal 2020 and included (i) market price performance conditions that provide for the award to vest only after the average closing price of the Company’s stock trades above a predetermined market level and (ii) another performance condition that requires the achievement of an operating performance target. PRSU’s generally vest over a two to five year period. For restricted stock units with market conditions, the Company estimates the grant date fair value using a Monte Carlo simulation model. This valuation methodology utilizes the closing price of the Company’s common stock on grant date and several key assumptions, including expected volatility of the Company’s stock price, and risk-free rates of return. This valuation is performed with the assistance of a third party valuation specialist. PRSU’s are expensed over the service period under the requisite acceleration method.

PSU’s were granted to executives in fiscal 2020 and vest after a three year performance period during which certain earnings before interest and taxes and return on invested capital performance standards must be satisfied for vesting to occur. PSU’s are also subject to a lock up period that prevents the sale, contract to sell or transfer shares for two years subsequent to the date of vesting. PSU’s are expensed over the service period under the requisite acceleration method and based on an estimated percentage of achievement of certain pre-established goals.

The Company accounts for forfeited awards as they occur as permitted by ASC 718. Ultimately, the actual expense recognized over the vesting period will be for those shares that vest.

The Company recognized $6.1 million, $17.6 million and $19.7 million in share-based compensation expense for the years ended January 31, 2021, 2020 and 2019, respectively, related to restricted stock unit grants. At January 31, 2021, 2020 and 2019, unrecognized costs related to the restricted stock units totaled $12.9 million, $18.7 million and $19.4 million, respectively. The total fair value of awards for which restrictions lapsed was $5.0 million, $31.0 million and $17.5 million as of January 31, 2021, 2020 and 2019, respectively.

Stock Options


	2021			2020			2019
		Weighted			Weighted			Weighted
		Average			Average			Average
	Shares	Exercise		Shares	Exercise		Shares	Exercise
Stock options outstanding at beginning of year	39,311	$	18.51	55,311	$	15.70	62,666	$	11.50
Exercised	(21,066)	$	14.07	(13,200)	$	8.71	(15,600)	$	6.55
Granted	—	$	—	—	$	—	8,245	$	30.32
Cancelled or forfeited	—	$	—	(2,800)	$	9.20	—	$	—
Stock options outstanding at end of year	18,245	$	23.63	39,311	$	18.51	55,311	$	15.70
Exercisable	18,245	$	23.63	35,188	$	17.12	47,066	$	13.14

The following table summarizes information about stock options outstanding:

Number

Weighted

Number

Weighted

Outstanding as of

Average

Exercisable as of

Average

January 31,

Remaining

Exercise

January 31,

Exercise

Range of Exercise Prices

2021

Contractual Life

Price

2021

Price

$18.11 - $30.32

18,245

1.50

23.63

18,245

23.63

18,245

Stock Options

Compensation expense for employee stock options is recognized in the consolidated financial statements over the service period (generally the vesting period) based on their fair value. Stock options are valued using the Black-Scholes option pricing model. The Black-Scholes model requires subjective assumptions regarding dividend yields, expected volatility, expected life of options and risk-free interest rates. These assumptions reflect management’s best estimates. Changes in these inputs and assumptions can materially affect the estimate of fair value and the amount of our compensation expenses for stock options. No stock options were granted during the years ended January 31, 2021 and January 31, 2020. The Company granted 8,245 stock options during the year ended January 31, 2019.

The Company accounts for forfeited awards as they occur as permitted by ASC 718. Ultimately, the actual expense recognized over the vesting period will be for those shares that vest.

The weighted average remaining term for stock options outstanding was 1.5 years at January 31, 2021. The aggregate intrinsic value at January 31, 2021 was $0.1 million for stock options outstanding and $0.1 million for stock options exercisable. The intrinsic value for stock options is calculated based on the exercise price of the underlying awards and the market price of the Company’s common stock as of January 31, 2021, the reporting date.

Proceeds received from the exercise of stock options were $0.3 million and $0.1 million during the years ended January 31, 2021 and 2020, respectively. The intrinsic value of stock options exercised was $0.1 million and $0.3 million for the years ended January 31, 2021 and 2020, respectively. A portion of this amount is currently deductible for tax purposes.

The Company recognized $0.1 million and $0.1 million in compensation expense for the years ended January 31, 2021 and 2020, respectively, related to stock options. The Company recognized a nominal amount in compensation expense for the year ended January 31, 2019.

CONCENTRATION

12 Months Ended

Jan. 31, 2021

Risks and Uncertainties [Abstract]

CONCENTRATION

NOTE M — CONCENTRATION

Two customers in the wholesale operations segment accounted for approximately 20.9% and 12.9%, respectively, of the Company’s net sales for the year ended January 31, 2021. Two customers accounted for 26.3% and 13.2% of the Company’s net sales for the year ended January 31, 2020. Two customers accounted for 24.8% and 12.4% of the Company’s net sales for the year ended January 31, 2019. Four customers in the wholesale operations segment accounted for approximately 19.8%, 19.5%, 15.1% and 10.1%, respectively, of the Company’s net accounts receivable as of January 31, 2021. Three customers in the wholesale operations segment accounted for approximately 25.7%, 17.0% and 10.0%, respectively, of the Company’s net accounts receivable as of January 31, 2020.

EMPLOYEE BENEFIT PLANS

12 Months Ended

Jan. 31, 2021

Compensation And Retirement Disclosure [Abstract]

EMPLOYEE BENEFIT PLANS

NOTE N — EMPLOYEE BENEFIT PLANS

The Company maintains a 401(k) plan (the “GIII Plan”) and trust for non-union employees. The Plan provides for a Safe Harbor (non-discretionary) matching contribution of 100% of the first 3% of the participant’s contributed pay plus 50% of the next 2% of the participant’s contributed pay. The Company made matching contributions of $1.5 million, $4.7 million and $3.8 million for the years ended January 31, 2021, 2020 and 2019, respectively. Effective May 2020, the Company temporarily suspended 401(k) matching contributions due to the COVID-19 pandemic.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

SEGMENTS

12 Months Ended

Jan. 31, 2021

Segments [Abstract]

SEGMENTS

NOTE O — SEGMENTS

The Company’s reportable segments are business units that offer products through different channels of distribution. The Company has two reportable segments: wholesale operations and retail operations. The wholesale operations segment includes sales of products under the Company’s owned, licensed and private label brands, as well as sales related to the Vilebrequin business. Wholesale revenues also include revenues from license agreements related to our owned trademarks including DKNY, Donna Karan, Vilebrequin, G.H. Bass and Andrew Marc. The retail operations segment consists primarily of direct sales to consumers through Company-operated stores, which, prior to the completion of the retail restructuring in fiscal 2021, consisted primarily of Wilsons Leather, G.H. Bass, DKNY and Karl Lagerfeld Paris stores, substantially all of which are operated as outlet stores. Sales through the Company’s owned digital channels, with the exception of Vilebrequin, are also included in the retail operations segment. As a result of the restructuring of the Company’s retail operations, the Company closed its Wilsons Leather and G.H. Bass retail stores during fiscal 2021. After completion of the restructuring, the Company’s retail operations segment consists of DKNY and Karl Lagerfeld Paris stores, as well as the digital channels for DKNY, Donna Karan, Karl Lagerfeld Paris, G.H Bass, Andrew Marc and Wilsons Leather.

The following segment information, in thousands, is presented for the fiscal years ended:


	January 31, 2021
	Wholesale		Retail		Elimination ⁽¹⁾		Total
Net sales	$	1,916,763		170,421		(32,038)	$	2,055,146
Cost of goods sold		1,229,548		113,194		(32,038)		1,310,704
Gross profit		687,215		57,227		—		744,442
Selling, general and administrative expenses		444,549		160,553		—		605,102
Depreciation and amortization		31,998		6,627		—		38,625
Asset impairments, net of gain on lease terminations		1,010		16,863		—		17,873
Operating profit (loss)	$	209,658	$	(126,816)	$	—	$	82,842


	January 31, 2020
	Wholesale		Retail		Elimination ⁽¹⁾		Total
Net sales	$	2,862,889	$	385,910	$	(88,335)	$	3,160,464
Cost of goods sold		1,925,062		205,797		(88,335)		2,042,524
Gross profit		937,827		180,113		—		1,117,940
Selling, general and administrative expenses		604,377		227,803		—		832,180
Depreciation and amortization		30,806		7,929		—		38,735
Asset impairments		412		18,959		—		19,371
Operating profit (loss)	$	302,232	$	(74,578)	$	—	$	227,654


	January 31, 2019
	Wholesale		Retail		Elimination ⁽¹⁾		Total
Net sales	$	2,716,958	$	476,764	$	(117,514)	$	3,076,208
Cost of goods sold		1,837,335		249,278		(117,514)		1,969,099
Gross profit		879,623		227,486		—		1,107,109
Selling, general and administrative expenses		570,290		264,473		—		834,763
Depreciation and amortization		29,644		9,175		—		38,819
Asset impairments		—		2,813		—		2,813
Operating profit (loss)	$	279,689	$	(48,975)	$	—	$	230,714

(1)	Represents intersegment sales to the Company’s retail operations segment.

The Company allocates overhead to its business segments on various bases, which include units shipped, space utilization, inventory levels, and relative sales levels, among other factors. The method of allocation has been applied consistently on a year-to-year basis.

The total assets for each of the Company’s reportable segments, as well as assets not allocated to a segment, are as follows:


	January 31,		January 31,
	2021		2020

	(In thousands)
Wholesale	$	1,844,682	$	1,912,175
Retail		85,625		272,832
Corporate		506,079		380,130
Total Assets	$	2,436,386	$	2,565,137

The total net sales and long-lived assets by geographic region are as follows:


	2021				2020				2019
			Long-Lived				Long-Lived				Long-Lived
Geographic Region	Net Sales		Assets		Net Sales		Assets		Net Sales		Assets
United States	$	1,755,791	$	834,181	$	2,774,492	$	964,476	$	2,656,479	$	762,444
Non-United States		299,355		258,165		385,972		231,973		419,729		191,719
	$	2,055,146	$	1,092,346	$	3,160,464	$	1,196,449	$	3,076,208	$	954,163

Capital expenditures for locations outside of the United States totaled $3.0 million, $4.6 million and $4.3 million for the years ended January 31, 2021, 2020 and 2019, respectively.

- 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.

+ References

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-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Fabco Holding B.V.

12 Months Ended

Jan. 31, 2021

Business Combinations [Abstract]

FABCO HOLDING B.V.

NOTE P — FABCO HOLDING B.V.

In August 2017, the Company entered into a joint venture agreement with Amlon Capital B.V. (“Amlon”), a private company incorporated in the Netherlands, to produce and market women’s and men’s apparel and accessories pursuant to a long-term license for DKNY and Donna Karan in the People’s Republic of China, including Macau, Hong Kong and Taiwan. The Company owned 49% of the joint venture through November 30, 2020, with Amlon owning the remaining 51%. During the fourth quarter of fiscal 2021, the Company acquired an additional ownership interest for nominal consideration that increased its ownership interest in Fabco to 75% effective December 1, 2020, with Amlon owning the remaining 25% (the “Fabco Acquisition”). The joint venture was funded with $25 million of equity to be used to strengthen the DKNY and Donna Karan brands and accelerate the growth of the business in the region. Of this amount, the Company contributed an aggregate $10.0 million. Beginning January 1, 2018, this joint venture is the exclusive seller of women’s and men’s apparel, handbags, luggage and certain accessories under the DKNY and Donna Karan brands in the territory.

Fabco is accounted for as a consolidated majority-owned subsidiary on the consolidated financial statements as of January 31, 2021. The investment in Fabco was previously accounted for under the equity method of accounting on the consolidated balance sheets at January 31, 2020.

On the effective date of the Fabco Acquisition, the previously held investment was remeasured at fair value and a $1.0 million gain was recorded.

The Fabco Acquisition was accounted for under the acquisition method of accounting. Accordingly, the purchase price was allocated to the acquired assets based on their estimated fair values. In connection with the acquisition, during the year ended January 31, 2021, the Company recorded a $1.7 million pretax bargain purchase gain. The Company was able to realize a gain because Fabco was in need of capital to continue its operations and was unable to secure sufficient capital in the time frame it required. The Company has assessed the identification of and valuation assumptions surrounding the assets acquired and the consideration transferred and has determined that the recognition of a bargain purchase gain is appropriate. The operating results for Fabco are included in the Company’s consolidated financial statements from the effective date of the Fabco Acquisition.

The noncontrolling interest is classified as temporary equity in the mezzanine section of the balance sheet between liabilities and permanent equity. The temporary equity designation is due to a put feature that is outside of the Company’s control.

EQUITY INVESTMENT

12 Months Ended

Jan. 31, 2021

EQUITY INVESTMENT

EQUITY INVESTMENT

NOTE Q — EQUITY INVESTMENTS

Investment in Karl Lagerfeld Holding B.V.

In February 2016, the Company acquired a 19% minority interest in KLH, the parent company of the group that holds the worldwide rights to the Karl Lagerfeld brand. The Company paid 32.5€ million (equal to $35.4 million at the date of the transaction) for this interest. This investment was intended to expand the partnership between the Company and the owners of Karl Lagerfeld brand and extend their business development opportunities on a global scale. The investment in KLH, which is being accounted for under the equity method of accounting, is reflected in Investment in Unconsolidated Affiliates on the Consolidated Balance Sheets at January 31, 2021 and 2020.

Investment in KL North America

In June 2015, the Company entered into a joint venture agreement with Karl Lagerfeld Group BV (“KLBV”). The Company paid KLBV $25.0 million for a 49% ownership interest in KLNA. KLNA holds brand rights to all Karl Lagerfeld trademarks, including the Karl Lagerfeld Paris brand the Company currently uses, for all consumer products (except eyewear, fragrance, cosmetics, watches, jewelry, and hospitality services) and apparel in the United States, Canada and

Mexico. The investment in KLNA, which is being accounted for under the equity method of accounting, is reflected in Investment in Unconsolidated Affiliates on the Consolidated Balance Sheets at January 31, 2021 and 2020.

RELATED PARTY TRANSACTIONS

12 Months Ended

Jan. 31, 2021

RELATED PARTY TRANSACTIONS

NOTE R — RELATED PARTY TRANSACTIONS

Transactions with Fabco

Prior to December 1, 2020, G-III owned a 49% ownership interest in Fabco and was considered a related party of Fabco (see Note N). The Company sells inventory to Fabco and granted Fabco’s subsidiary the right to use certain Donna Karan and DKNY trademarks. In fiscal 2021 and 2020, the Company sold $2.7 million and $4.4 million in inventory to Fabco, respectively. The Company recorded $0.9 million of licensing revenue from Fabco during the period of the year prior to Fabco becoming a consolidated majority-owned subsidiary of the Company. The Company recorded $3.1 million and $2.2 million of licensing revenue from Fabco during the years ended January 31, 2020 and 2019, respectively. As of January 31, 2020, Fabco prepaid $0.5 million to the Company for minimum royalties and marketing fees relating to the first quarter of 2020 and has a $0.1 million payable balance relating to inventory purchased from the Company and its subsidiaries.

Transactions with KL North America

G-III owns a 49% ownership interest in KLNA and is considered a related party of KLNA (see Note Q). The Company entered into a licensing agreement to use the brand rights to certain Karl Lagerfeld trademarks held by KLNA. The Company incurred royalty and advertising expense of $3.5 million, $6.8 million and $6.4 million for the years ended January 31, 2021, 2020 and 2019, respectively.

QUARTERLY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Jan. 31, 2021

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY FINANCIAL DATA (UNAUDITED)

NOTE S — QUARTERLY FINANCIAL DATA (UNAUDITED)

Summarized quarterly financial data for the fiscal years ended January 31, 2021 and 2020 are as follows (in thousands, except per share amounts):


	Quarter Ended
	April 30,		July 31,		October 31,		January 31,
	2020		2020 ⁽¹⁾		2020		2021 ⁽²⁾
Net sales	$	405,131	$	297,212	$	826,561	$	526,242
Gross profit		124,401		134,693		297,755		187,593
Net income attributable to G-III Apparel Group, Ltd.		(39,295)		(14,976)		63,174		14,642
Net income attributable to G-III Apparel Group, Ltd. per common share
Basic	$	(0.82)	$	(0.31)	$	1.31	$	0.30
Diluted	$	(0.82)	$	(0.31)	$	1.29	$	0.30


	Quarter Ended
	April 30,		July 31,		October 31,		January 31,
	2019		2019		2019		2020 ⁽³⁾
Net sales	$	633,552	$	643,892	$	1,128,403	$	754,617
Gross profit		236,064		231,769		399,019		251,088
Net income		12,043		11,119		95,387		25,288
Net income per common share
Basic	$	0.25	$	0.23	$	2.00	$	0.53
Diluted	$	0.24	$	0.23	$	1.97	$	0.52

(1)

During the second quarter of fiscal 2021, the Company recorded a $19.8 million impairment charge primarily related to operating lease assets, leasehold improvements, furniture and fixtures and store related intangible assets at certain Wilsons Leather and G.H. Bass stores primarily due to the retail restructuring, and certain DKNY and Vilebrequin stores as a result of the performance at these stores.

(2)

During the fourth quarter of fiscal 2021, the Company recorded a $0.7 million impairment charge primarily related to operating lease assets, leasehold improvements, furniture and fixtures and store related intangible assets at certain DKNY and Vilebrequin stores as a result of the performance at these stores.

(3)	During the fourth quarter of fiscal 2020, the Company recorded a $21.8 million impairment charge primarily related to leasehold improvements, furniture and fixtures and operating lease assets at certain Wilsons Leather, G.H. Bass and DKNY stores as a result of the performance at these stores.

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Jan. 31, 2021

Valuation And Qualifying Accounts [Abstract]

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNT

SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS

Years ended January 31, 2021, 2020 and 2019


	Balance at		ASC 606		Charges to				Balance at
	Beginning		Transition		Cost and				End of
Description	of Period		Adjustment		Expenses		Deductions ⁽¹⁾		Period

	(In thousands)
Year ended January 31, 2021
Deducted from asset accounts
Allowance for doubtful accounts	$	710	$	—	$	16,882	$	133	$	17,459
Reserve for returns		46,489		—		41,348		47,133		40,704
Reserve for sales allowances ⁽²⁾		186,929		—		101,337		229,615		58,651
	$	234,128	$	—	$	159,567	$	276,881	$	116,814
Year ended January 31, 2020
Deducted from asset accounts
Allowance for doubtful accounts	$	924	$	—	$	(72)	$	142	$	710
Reserve for returns		62,278		—		56,440		72,229		46,489
Reserve for sales allowances ⁽²⁾		181,312		—		422,628		417,011		186,929
	$	244,514	$	—	$	478,996	$	489,382	$	234,128
Year ended January 31, 2019
Allowance for doubtful accounts	$	2,093	$	—	$	(140)	$	1,029	$	924
Reserve for returns		61,179		—		57,777		56,678		62,278
Reserve for sales allowances ⁽²⁾		102,144		66,617		375,118		362,567		181,312
	$	165,416	$	66,617	$	432,755	$	420,274	$	244,514


⁽¹⁾	Accounts written off as uncollectible, net of recoveries.
⁽²⁾	See Note A in the accompanying Notes to Consolidated Financial Statements for a description of sales allowances.

SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Jan. 31, 2021

Accounting Policies [Abstract]

Business Activity and Principles of Consolidation

1. Business Activity and Principles of Consolidation

Liquidity and Impact of COVID-19

Cash Equivalents

2. Cash Equivalents

The Company considers all highly liquid investments purchased with a maturity of three months or less to be cash equivalents.

Revenue Recognition

3. Revenue Recognition

Both wholesale revenues and retail store revenues are shown net of returns, discounts and other allowances.

Licensing revenue is recognized at the higher of royalty earned or guaranteed minimum royalty.

Accounts Receivable

4. Accounts Receivable

Inventories

5. Inventories

Goodwill and Other Intangibles

6. Goodwill and Other Intangibles

Leases

7. Leases

contracts with COVID-19 related rent concessions. As of January 31, 2021, the Company has $3.4 million of deferred lease payments recorded within accounts payable on its consolidated balance sheets.

Depreciation and amortization

8. Depreciation and Amortization

Impairment of Long-Lived Assets

9. Impairment of Long-Lived Assets

Income Taxes

10. Income Taxes

current period expense. For the current and future tax years, the Company expects other TCJA tax implications to be immaterial.

Net Income Per Common Share

11. Net Income Per Common Share

The following table reconciles the numerators and denominators used in the calculation of basic and diluted net income per share:


	Year Ended January 31,
	2021		2020		2019

	(In thousands, except per share amounts)
Net income attributable to G-III Apparel Group, Ltd.	$	23,545	$	143,837	$	138,067
Basic net income per share:
Basic common shares		48,242		48,209		49,140
Basic net income per share	$	0.49	$	2.98	$	2.81

Diluted net income per share:
Basic common shares		48,242		48,209		49,140
Dilutive restricted stock unit awards and stock options		539		686		1,134
Diluted common shares		48,781		48,895		50,274
Diluted net income per share	$	0.48	$	2.94	$	2.75

Equity Award Compensation

12. Equity Award Compensation

Cost of Goods Sold

13. Cost of Goods Sold

Shipping and Handling Costs

14. Shipping and Handling Costs

Advertising Costs

15. Advertising Costs

Use of Estimates

16. Use of Estimates

Fair Value of Financial Instruments

17. Fair Value of Financial Instruments

Level 1 — inputs to the valuation methodology based on quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 3 — inputs to the valuation methodology based on unobservable prices or valuation techniques that are significant to the fair value measurement.

The following table summarizes the carrying values and the estimated fair values of the Company’s debt instruments:



		Carrying Value				Fair Value
		January 31,		January 31,		January 31,		January 31,
Financial Instrument	Level	2021		2020		2021		2020

		(In thousands)
Secured Notes	2	$	400,000	$	—	$	400,000	$	—
Term loan	2		—		300,000		—		300,000
Note issued to LVMH	3		107,869		102,009		101,810		95,126
Unsecured loans	2		9,119		2,860		9,119		2,860
Overdraft facilities	2		3,007		—		3,007		—

The fair value of the LVMH Note was considered a Level 3 valuation in the fair value hierarchy.

Non-Financial Assets and Liabilities

Foreign Currency Translation

18. Foreign Currency Translation

Recently Adopted Accounting Guidance

19. Effects of Recently Adopted and Issued Accounting Pronouncements

Recently Adopted Accounting Guidance

Accounting Guidance Issued Being Evaluated for Adoption

SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jan. 31, 2021

Accounting Policies [Abstract]

Schedule of reconciliation between basic and diluted net income per share

The following table reconciles the numerators and denominators used in the calculation of basic and diluted net income per share:


	Year Ended January 31,
	2021		2020		2019

	(In thousands, except per share amounts)
Net income attributable to G-III Apparel Group, Ltd.	$	23,545	$	143,837	$	138,067
Basic net income per share:
Basic common shares		48,242		48,209		49,140
Basic net income per share	$	0.49	$	2.98	$	2.81

Diluted net income per share:
Basic common shares		48,242		48,209		49,140
Dilutive restricted stock unit awards and stock options		539		686		1,134
Diluted common shares		48,781		48,895		50,274
Diluted net income per share	$	0.48	$	2.94	$	2.75

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]

The following table summarizes the carrying values and the estimated fair values of the Company’s debt instruments:



		Carrying Value				Fair Value
		January 31,		January 31,		January 31,		January 31,
Financial Instrument	Level	2021		2020		2021		2020

		(In thousands)
Secured Notes	2	$	400,000	$	—	$	400,000	$	—
Term loan	2		—		300,000		—		300,000
Note issued to LVMH	3		107,869		102,009		101,810		95,126
Unsecured loans	2		9,119		2,860		9,119		2,860
Overdraft facilities	2		3,007		—		3,007		—

Retail Restructuring (Tables)

12 Months Ended

Jan. 31, 2021

Retail Restructuring [Abstract]

Reconciliation of accruals


	Severance and Benefit Costs		Store Closing Costs		Total

	(In thousands)
Balance at January 31, 2020	$	—	$	—	$	—
Amounts charged to expense		1,257		961		2,218
Cash payments		(1,103)		(280)		(1,383)
Balance at January 31, 2021	$	154	$	681	$	835

Allowance for Doubtful Accounts (Tables)

12 Months Ended

Jan. 31, 2021

Allowance for Doubtful Accounts [Abstract]

Accounts Receivable and Allowance for Doubtful Accounts

The Company’s accounts receivable and allowance for doubtful accounts as of January 31, 2021 were:


	January 31, 2021
	Wholesale		Retail		Total

	(In thousands)
Accounts receivable, gross	$	509,010	$	1,147	$	510,157
Allowance for doubtful accounts		(17,429)		(30)		(17,459)
Accounts receivable, net	$	491,581	$	1,117	$	492,698

Activity in Allowance for Credit Losses


	January 31, 2021
	Wholesale		Retail		Total

	(In thousands)
Balance as of January 31, 2020	$	(628)	$	(82)	$	(710)
Provision for credit losses		(16,934)		52		(16,882)
Accounts written off as uncollectible		133		—		133
Balance as of January 31, 2021	$	(17,429)	$	(30)	$	(17,459)

PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Jan. 31, 2021

Property Plant And Equipment [Abstract]

Schedule of property and equipment


		January 31,
	Estimated life	2021		2020

		(In thousands)
Machinery and equipment	5 years	$	1,724	$	1,867
Leasehold improvements	3-13 years		74,598		75,808
Furniture and fixtures	3-10 years		100,572		109,284
Computer equipment and software	2-5 years		40,255		41,040
			217,149		227,999
Less: accumulated depreciation			(160,085)		(151,976)
		$	57,064	$	76,023

Leases (Tables)

12 Months Ended

Jan. 31, 2021

Leases [Abstract]

Schedule of lease assets and liabilities


Leases	Classification	January 31, 2021		January 31, 2020

		(In thousands)
Assets
Operating	Operating lease assets	$	186,070	$	270,032
Total lease assets		$	186,070	$	270,032

Liabilities
Current operating	Current operating lease liabilities	$	43,560	$	63,166
Noncurrent operating	Noncurrent operating lease liabilities		161,668		249,040
Total lease liabilities		$	205,228	$	312,206

Schedule of maturity of operating lease liabilities


Year Ending January 31,	Amount
	(In thousands)
2022	$	58,045
2023		51,312
2024		38,408
2025		31,315
2026		24,837
After 2026		55,362
Total lease payments	$	259,279
Less: Interest		54,051
Present value of lease liabilities	$	205,228

INTANGIBLE ASSETS (Tables)

12 Months Ended

Jan. 31, 2021

Business Combinations [Abstract]

Schedule of intangible assets

Intangible assets consist of:



January 31, 2021	Estimated Life	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

		(In thousands)
Finite-lived intangible assets
Licenses	14 years	$	19,884	$	(16,959)	$	2,925
Trademarks	8-12 years		2,194		(2,194)		—
Customer relationships	15-17 years		48,430		(17,843)		30,587
Other	5-10 years		8,624		(7,077)		1,547
Total finite-lived intangible assets		$	79,132	$	(44,073)	$	35,059
Indefinite-lived intangible assets
Goodwill							263,135
Trademarks							443,612
Total indefinite-lived intangible assets							706,747
Total intangible assets, net						$	741,806



January 31, 2020	Estimated Life	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

		(In thousands)
Finite-lived intangible assets
Licenses	14 years	$	19,258	$	(16,107)	$	3,151
Trademarks	8-12 years		2,194		(2,194)		—
Customer relationships	15-17 years		48,214		(14,831)		33,383
Other	5-10 years		7,757		(5,928)		1,829
Total finite-lived intangible assets		$	77,423	$	(39,060)	$	38,363
Indefinite-lived intangible assets
Goodwill							260,622
Trademarks							438,658
Total indefinite-lived intangible assets							699,280
Total intangible assets, net						$	737,643

Schedule of estimated intangible amortization expense


Year Ending January 31,	Amortization Expense
	(In thousands)
2022	$	3,643
2023		3,301
2024		3,074
2025		3,035
2026		3,028

Schedule of changes in amounts of goodwill

Changes in the amounts of goodwill for each of the years ended January 31, 2021 and 2020 are summarized by reportable segment as follows (in thousands):


	Wholesale		Retail		Total
January 31, 2019	$	261,137		—		261,137
Currency translation		(515)		—		(515)
January 31, 2020		260,622		—		260,622
Currency translation		2,513		—		2,513
January 31, 2021	$	263,135	$	—	$	263,135

NOTES PAYABLE AND OTHER LIABILITIES (Tables)

12 Months Ended

Jan. 31, 2021

Notes Payable and Other Liabilities [Abstract]

Schedule of long-term debt


	January 31, 2021		January 31, 2020

	(in thousands)
Secured Notes	$	400,000	$	—
Term loan		—		300,000
Revolving credit facility		—		—
Note issued to LVMH		125,000		125,000
Unsecured loan		9,119		2,860
Overdraft facilities		3,007		—
Subtotal		537,126		427,860
Less: Net debt issuance costs ⁽¹⁾		(7,643)		(7,402)
Debt discount		(17,131)		(22,991)
Current portion of long-term debt		(4,402)		(673)
Total	$	507,950	$	396,794

(1)

Schedule of future debt repayments


Year Ending January 31,	Amount
	(In thousands)
2022	$	4,402
2023		1,718
2024		126,822
2025		2,147
2026 and thereafter		402,037

Schedule of accrued expenses


	January 31, 2021		January 31, 2020

	(in thousands)
Accrued bonuses	$	23,851	$	40,980
Other accrued expenses		78,936		60,858
Total	$	102,787	$	101,838

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Section S99
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-Subparagraph (SX 210.4-08.(e),(f))
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

INCOME TAXES (Tables)

12 Months Ended

Jan. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of components of income tax provision


	Year Ended January 31,
	2021		2020		2019

	(In thousands)
Current
Federal	$	(15,828)	$	22,471	$	23,463
State and city		(491)		4,856		5,907
Foreign		3,803		10,615		10,989
		(12,516)		37,942		40,359
Deferred
Federal		22,770		8,250		4,419
State and city		3,364		315		191
Foreign		(1,415)		(8,246)		794
		24,719		319		5,404
Income tax expense	$	12,203	$	38,261	$	45,763
Income before income taxes
United States	$	37,727	$	138,292	$	137,748
Non-United States		(2,001)		43,806		46,082
	$	35,726	$	182,098	$	183,830

Schedule of significant components of net deferred tax assets


	2021		2020

	(In thousands)
Deferred income tax assets:
Compensation	$	2,673	$	8,379
Inventory		6,780		4,498
Provision for bad debts and sales allowances		18,531		34,197
Supplemental employee retirement plan		584		511
Net operating loss		12,703		4,877
Operating lease liability		35,658		67,044
Foreign tax credit carryforward		4,962		—
Other		3,792		1,148
Gross deferred income tax assets		85,683		120,654
Less: valuation allowance		(13,272)		(4,929)
Net deferred income tax assets		72,411		115,725
Deferred income tax liabilities:
Depreciation and amortization		(41,185)		(33,539)
Intangibles		(14,271)		(13,602)
Operating lease asset		(30,182)		(55,801)
Prepaid expenses and other		(2,028)		(2,600)
Total deferred income tax liabilities		(87,666)		(105,542)
Net deferred tax (liabilities) assets	$	(15,255)	$	10,183

Schedule of reconciliation of statutory federal income tax rate to effective rate reported in financial statements


	2021		2020		2019
Provision for Federal income taxes at the statutory rate	21.0	%	21.0	%	21.0	%
State and local income taxes, net of Federal tax benefit	(0.6)		1.9		2.4
Permanent differences resulting in Federal taxable income	12.8		5.9		6.6
Foreign tax rate differential	(0.3)		(3.8)		0.5
Share-based payments	12.5		(0.8)		(0.6)
Foreign tax credit	(7.3)		(3.5)		(5.5)
Valuation allowance	13.7		0.9		0.2
Net operating loss carryback	(18.6)		—		—
Other, net	1.0		(0.6)		0.3
Actual provision for income taxes	34.2	%	21.0	%	24.9	%

Schedule of reconciliation of the beginning and ending amounts of gross unrecognized tax benefits (excluding interest and penalties)



	2021		2020		2019

	(In thousands)
Balance at February 1,	$	2,111	$	—	$	82
Additions for tax positions of prior years		182		2,111		—
Lapses of statues of limitations		—		—		(82)
Balance at January 31,	$	2,293	$	2,111	$	—

STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Jan. 31, 2021

Stockholders' Equity Note [Abstract]

Schedule of restricted stock

Restricted Stock Units and Performance Based Restricted Stock Units



	Restricted Stock Units			Performance Based Restricted Stock Units
		Weighted Average			Weighted Average
	Awards	Grant Date		Awards	Grant Date
	Outstanding	Fair Value		Outstanding	Fair Value
Unvested as of January 31, 2018	327,014	$	30.59	1,445,563	$	29.26
Granted	137,723	$	38.32	391,530	$	30.23
Vested	(159,663)	$	30.38	(292,266)	$	25.91
Cancelled	(23,249)	$	29.69	(5,033)	$	27.10
Unvested as of January 31, 2019	281,825	$	34.56	1,539,794	$	30.15
Granted	142,594	$	37.74	332,651	$	35.77
Vested	(168,781)	$	32.32	(810,655)	$	24.58
Cancelled	(12,695)	$	35.09	(3,080)	$	42.41
Unvested as of January 31, 2020	242,943	$	37.95	1,058,710	$	36.15
Granted	1,280,664	$	10.25	—	$	—
Vested	(107,917)	$	37.96	(279,053)	$	32.43
Cancelled	(22,422)	$	39.41	(312,827)	$	42.41
Unvested as of January 31, 2021	1,393,268	$	12.47	466,830	$	34.17

Schedule of information regarding stock options

Stock Options


	2021			2020			2019
		Weighted			Weighted			Weighted
		Average			Average			Average
	Shares	Exercise		Shares	Exercise		Shares	Exercise
Stock options outstanding at beginning of year	39,311	$	18.51	55,311	$	15.70	62,666	$	11.50
Exercised	(21,066)	$	14.07	(13,200)	$	8.71	(15,600)	$	6.55
Granted	—	$	—	—	$	—	8,245	$	30.32
Cancelled or forfeited	—	$	—	(2,800)	$	9.20	—	$	—
Stock options outstanding at end of year	18,245	$	23.63	39,311	$	18.51	55,311	$	15.70
Exercisable	18,245	$	23.63	35,188	$	17.12	47,066	$	13.14

Schedule of information about stock options outstanding

Number

Weighted

Number

Weighted

Outstanding as of

Average

Exercisable as of

Average

January 31,

Remaining

Exercise

January 31,

Exercise

Range of Exercise Prices

2021

Contractual Life

Price

2021

Price

$18.11 - $30.32

18,245

1.50

23.63

18,245

23.63

18,245

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Jan. 31, 2021

Commitments And Contingencies Disclosure [Abstract]

Schedule of future minimum royalty and advertising payments required under these agreements


Year Ending January 31,	Amount
	(In thousands)
2022		107,199
2023		91,225
2024		89,474
2025		31,540
2026		25,618
Thereafter		—
	$	345,056

SEGMENTS (Tables)

12 Months Ended

Jan. 31, 2021

Segments [Abstract]

Schedule of information regarding reportable segments


	January 31, 2021
	Wholesale		Retail		Elimination ⁽¹⁾		Total
Net sales	$	1,916,763		170,421		(32,038)	$	2,055,146
Cost of goods sold		1,229,548		113,194		(32,038)		1,310,704
Gross profit		687,215		57,227		—		744,442
Selling, general and administrative expenses		444,549		160,553		—		605,102
Depreciation and amortization		31,998		6,627		—		38,625
Asset impairments, net of gain on lease terminations		1,010		16,863		—		17,873
Operating profit (loss)	$	209,658	$	(126,816)	$	—	$	82,842


	January 31, 2020
	Wholesale		Retail		Elimination ⁽¹⁾		Total
Net sales	$	2,862,889	$	385,910	$	(88,335)	$	3,160,464
Cost of goods sold		1,925,062		205,797		(88,335)		2,042,524
Gross profit		937,827		180,113		—		1,117,940
Selling, general and administrative expenses		604,377		227,803		—		832,180
Depreciation and amortization		30,806		7,929		—		38,735
Asset impairments		412		18,959		—		19,371
Operating profit (loss)	$	302,232	$	(74,578)	$	—	$	227,654


	January 31, 2019
	Wholesale		Retail		Elimination ⁽¹⁾		Total
Net sales	$	2,716,958	$	476,764	$	(117,514)	$	3,076,208
Cost of goods sold		1,837,335		249,278		(117,514)		1,969,099
Gross profit		879,623		227,486		—		1,107,109
Selling, general and administrative expenses		570,290		264,473		—		834,763
Depreciation and amortization		29,644		9,175		—		38,819
Asset impairments		—		2,813		—		2,813
Operating profit (loss)	$	279,689	$	(48,975)	$	—	$	230,714

(1)	Represents intersegment sales to the Company’s retail operations segment.

Schedule of total assets for each reportable segments


	January 31,		January 31,
	2021		2020

	(In thousands)
Wholesale	$	1,844,682	$	1,912,175
Retail		85,625		272,832
Corporate		506,079		380,130
Total Assets	$	2,436,386	$	2,565,137

Schedule of total net sales and long-lived assets by geographic region


	2021				2020				2019
			Long-Lived				Long-Lived				Long-Lived
Geographic Region	Net Sales		Assets		Net Sales		Assets		Net Sales		Assets
United States	$	1,755,791	$	834,181	$	2,774,492	$	964,476	$	2,656,479	$	762,444
Non-United States		299,355		258,165		385,972		231,973		419,729		191,719
	$	2,055,146	$	1,092,346	$	3,160,464	$	1,196,449	$	3,076,208	$	954,163

QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)

12 Months Ended

Jan. 31, 2021

Quarterly Financial Information Disclosure [Abstract]

Schedule of summarized quarterly financial data

Summarized quarterly financial data for the fiscal years ended January 31, 2021 and 2020 are as follows (in thousands, except per share amounts):


	Quarter Ended
	April 30,		July 31,		October 31,		January 31,
	2020		2020 ⁽¹⁾		2020		2021 ⁽²⁾
Net sales	$	405,131	$	297,212	$	826,561	$	526,242
Gross profit		124,401		134,693		297,755		187,593
Net income attributable to G-III Apparel Group, Ltd.		(39,295)		(14,976)		63,174		14,642
Net income attributable to G-III Apparel Group, Ltd. per common share
Basic	$	(0.82)	$	(0.31)	$	1.31	$	0.30
Diluted	$	(0.82)	$	(0.31)	$	1.29	$	0.30


	Quarter Ended
	April 30,		July 31,		October 31,		January 31,
	2019		2019		2019		2020 ⁽³⁾
Net sales	$	633,552	$	643,892	$	1,128,403	$	754,617
Gross profit		236,064		231,769		399,019		251,088
Net income		12,043		11,119		95,387		25,288
Net income per common share
Basic	$	0.25	$	0.23	$	2.00	$	0.53
Diluted	$	0.24	$	0.23	$	1.97	$	0.52

(1)

(2)

(3)	During the fourth quarter of fiscal 2020, the Company recorded a $21.8 million impairment charge primarily related to leasehold improvements, furniture and fixtures and operating lease assets at certain Wilsons Leather, G.H. Bass and DKNY stores as a result of the performance at these stores.

SIGNIFICANT ACCOUNTING POLICIES - Reconciliation between Basic and Diluted Net Income per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Jan. 31, 2021	Oct. 31, 2020	Jul. 31, 2020	Apr. 30, 2020	Jan. 31, 2020	Oct. 31, 2019	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Accounting Policies [Abstract]
Net income (loss)									$ 23,523	$ 143,837	$ 138,067
Net income attributable to G-III Apparel Group, Ltd.	$ 14,642	$ 63,174	$ (14,976)	$ (39,295)	$ 25,288	$ 95,387	$ 11,119	$ 12,043	$ 23,545	$ 143,837	$ 138,067
Basic net income (loss) per share:
Basic common shares									48,242	48,209	49,140
Net income (loss) per common share (in dollar per shares)	$ 0.30	$ 1.31	$ (0.31)	$ (0.82)	$ 0.53	$ 2.00	$ 0.23	$ 0.25	$ 0.49	$ 2.98	$ 2.81
Diluted net income (loss) per share:
Basic common shares									48,242	48,209	49,140
Diluted restricted stock awards and stock options									539	686	1,134
Diluted common shares									48,781	48,895	50,274
Diluted net income (loss) per share (in dollars per share)	$ 0.30	$ 1.29	$ (0.31)	$ (0.82)	$ 0.52	$ 1.97	$ 0.23	$ 0.24	$ 0.48	$ 2.94	$ 2.75

SIGNIFICANT ACCOUNTING POLICIES - Textuals (Details) - USD ($) $ in Thousands		12 Months Ended
	Dec. 01, 2020	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019	Nov. 30, 2020	Jan. 31, 2018
Accounting Policies [Line Items]
Cash and cash equivalents		$ 351,934	$ 197,372	$ 70,138		$ 45,776
Deferred lease payments		$ 3,400
Impairment charge on leasehold improvements				$ 9,600
Corporate income tax rate		21.00%	21.00%	21.00%
Lock up period after vesting		2 years
Anti-dilutive shares excluded from diluted net income per share calculation		182,000	692,000	336,000
Common stock issued in connection with exercise or vesting of equity awards		0	8,851	168,179
Treasury shares re-issued in connection with the exercise or vesting of equity awards		367,290	619,651	150,809
Selling, general and administrative expenses		$ 605,102	$ 832,180	$ 834,763
Advertising expense		55,300	94,700	87,800
Prepaid advertising		$ 8,000	8,700
Fabco Holding B.V. [Member]
Accounting Policies [Line Items]
Subsidiary ownership percentage	75.00%
Ownership percent					49.00%
Karl Lagerfeld Holding B.V. ("KLH")
Accounting Policies [Line Items]
Percentage of ownership interest		19.00%
KLNA
Accounting Policies [Line Items]
Ownership percent		49.00%
Wholesale shipping and handling costs
Accounting Policies [Line Items]
Selling, general and administrative expenses		$ 111,800	138,800	125,900
Restricted Stock Units (RSUs)
Accounting Policies [Line Items]
Vesting and exercise period of awards		3 years
Restricted Stock Units (RSUs) \| Long-Term Incentive Stock Plan
Accounting Policies [Line Items]
Vesting and exercise period of awards		3 years
Performance Shares [Member]
Accounting Policies [Line Items]
Vesting and exercise period of awards		3 years
Lock up period after vesting		2 years
Minimum
Accounting Policies [Line Items]
Availability under revolving credit facility		$ 450,000
Intangible assets, estimated useful lives		5 years
Minimum \| Performance Shares [Member]
Accounting Policies [Line Items]
Vesting and exercise period of awards		2 years
Maximum
Accounting Policies [Line Items]
Intangible assets, estimated useful lives		17 years
Maximum \| Performance Shares [Member]
Accounting Policies [Line Items]
Vesting and exercise period of awards		5 years
Maximum \| Stock Options
Accounting Policies [Line Items]
Vesting and exercise period of awards		10 years
Wilsons Leather, G.H. Bass, DKNY and Vilebrequin Stores [Member] \| Furniture and fixtures
Accounting Policies [Line Items]
Impairment charge on leasehold improvements		$ 20,100
Wilsons, G.H. Bass and DKNY Stores [Member]
Accounting Policies [Line Items]
Impairment charge on leasehold improvements			21,800
Wilsons, G.H. Bass and DKNY Stores [Member] \| Furniture and fixtures
Accounting Policies [Line Items]
Impairment charge on leasehold improvements			$ 21,800	2,800
Wilsons, G H Bass And Vilebrequin Stores \| Furniture and fixtures
Accounting Policies [Line Items]
Impairment charge on leasehold improvements				$ 2,800

SIGNIFICANT ACCOUNTING POLICIES - Carrying Values and the Estimated Fair Values of Debt Instruments (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Aug. 07, 2020	Jan. 31, 2020
Secured notes
Debt Instrument [Line Items]
Debt instrument interest rate	7.875%	7.875%
Principal amount of debt		$ 400,000
LVMH Note
Debt Instrument [Line Items]
Debt instrument interest rate	2.00%
Principal amount of debt	$ 125,000
Debt discount	40,000
Level 2 \| Secured notes
Debt Instrument [Line Items]
Debt instruments, carrying value	400,000
Debt instruments, fair value	400,000
Level 2 \| Term Loan
Debt Instrument [Line Items]
Debt instruments, carrying value			$ 300,000
Debt instruments, fair value			300,000
Level 2 \| Unsecured Loan
Debt Instrument [Line Items]
Debt instruments, carrying value	9,119		2,860
Debt instruments, fair value	9,119		2,860
Level 2 \| Overdraft facilities
Debt Instrument [Line Items]
Debt instruments, carrying value	3,007
Debt instruments, fair value	3,007
Level 3 \| LVMH Note
Debt Instrument [Line Items]
Debt instruments, carrying value	107,869		102,009
Debt instruments, fair value	$ 101,810		$ 95,126

SIGNIFICANT ACCOUNTING POLICIES - Effects of Recently Adopted and Issued Accounting Pronouncements (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Accounting Policies [Abstract]
Operating lease liabilities	$ 205,228	$ 312,206
Operating lease assets	186,070	270,032
Impairment of the operating lease assets, net of tax	$ 19,400	$ 9,900

Retail Restructuring (Narrative) (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Jun. 30, 2020	Jan. 31, 2020
Operating lease liabilities	$ 205,228		$ 312,206
Wilsons Leather, G.H Bass, and Calvin Klein Performance Stores [Member]
Restructuring expected costs		$ 100,000
Restructuring and related cost expected cost cash portion		$ 65,000

Retail Restructuring (Details) - Retail operations $ in Thousands	12 Months Ended
	Jan. 31, 2021 USD ($)
Balance at beginning of period	$ 0
Amounts charged to expense	2,218
Cash payments	(1,383)
Balance at end of period	835
Severance and Benefit Costs
Balance at beginning of period	0
Amounts charged to expense	1,257
Cash payments	(1,103)
Balance at end of period	154
Store Closing Costs
Balance at beginning of period	0
Amounts charged to expense	961
Cash payments	(280)
Balance at end of period	$ 681

Revenue Recognition - Textuals (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Feb. 01, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Customer Refund Liability, Current	$ 99,355	$ 233,418
Contract liability	5,900	5,900
Revenue recognized related to contract liabilities	4,500
Contract assets	0	0
Impact of Adoption of ASC 606
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Reduction in stockholders equity			$ 53,700
Customer Refund Liability, Current	$ 99,400	$ 233,400

Allowance for Doubtful Accounts (Narrative) (Details) $ in Thousands	12 Months Ended
	Jan. 31, 2021 USD ($)
Increase in allowance for doubtful accounts	$ 16,882
Bankruptcy [Member]
Increase in allowance for doubtful accounts	$ 16,700

Allowance for Doubtful Accounts (Accounts Receivable and Allowance for Doubtful Accounts) (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Jan. 31, 2020
Segment Reporting Information [Line Items]
Accounts receivable, gross	$ 510,157
Allowance for doubtful accounts	(17,459)	$ (710)
Accounts receivable, net	492,698
Wholesale
Segment Reporting Information [Line Items]
Accounts receivable, gross	509,010
Allowance for doubtful accounts	(17,429)	(628)
Accounts receivable, net	491,581
Retail [Member]
Segment Reporting Information [Line Items]
Accounts receivable, gross	1,147
Allowance for doubtful accounts	(30)	$ (82)
Accounts receivable, net	$ 1,117

Allowance for Doubtful Accounts (Activity in Allowance for Credit Losses) (Details) $ in Thousands	12 Months Ended
	Jan. 31, 2021 USD ($)
Segment Reporting Information [Line Items]
Beginning balance	$ (710)
Provision for credit losses	(16,882)
Accounts written off as uncollectible	133
Ending balance	(17,459)
Wholesale
Segment Reporting Information [Line Items]
Beginning balance	(628)
Provision for credit losses	(16,934)
Accounts written off as uncollectible	133
Ending balance	(17,429)
Retail [Member]
Segment Reporting Information [Line Items]
Beginning balance	(82)
Provision for credit losses	52
Ending balance	$ (30)

Inventories - Textuals (Details) - USD ($) $ in Millions	Jan. 31, 2021	Jan. 31, 2020
Inventory [Line Items]
Inventory held on consignment	$ 3.5	$ 9.1
Prepaid Expenses and Other Current Assets
Inventory [Line Items]
Inventory return asset	$ 22.5	$ 31.0

PROPERTY AND EQUIPMENT - Property and Equipment at Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 217,149	$ 227,999
Less: accumulated depreciation	(160,085)	(151,976)
Property and equipment, net	$ 57,064	76,023
Machinery and equipment
Property, Plant and Equipment [Line Items]
Estimated useful lives of fixed assets	5 years
Property and equipment, gross	$ 1,724	1,867
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 74,598	75,808
Leasehold improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives of fixed assets	3 years
Leasehold improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives of fixed assets	13 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 100,572	109,284
Furniture and fixtures \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives of fixed assets	3 years
Furniture and fixtures \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives of fixed assets	10 years
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 40,255	$ 41,040
Computer equipment and software \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives of fixed assets	2 years
Computer equipment and software \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives of fixed assets	5 years

PROPERTY AND EQUIPMENT - Textuals (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Property Plant And Equipment [Line Items]
Fixed asset write offs	$ 0.4	$ 5.4
Depreciation expense	34.0	33.8	$ 33.9
Impairment charge on leasehold improvements			9.6
Wilsons, G.H. Bass and DKNY Stores [Member]
Property Plant And Equipment [Line Items]
Impairment charge on leasehold improvements		21.8
Furniture and fixtures \| Wilsons, G.H. Bass and DKNY Stores [Member]
Property Plant And Equipment [Line Items]
Impairment charge on leasehold improvements		21.8	2.8
Furniture and fixtures \| Wilsons, G H Bass And Vilebrequin Stores
Property Plant And Equipment [Line Items]
Impairment charge on leasehold improvements			$ 2.8
Leasehold improvements and furniture and fixtures [Member] \| Wilsons, G.H. Bass and DKNY Stores [Member]
Property Plant And Equipment [Line Items]
Impairment charge on leasehold improvements	$ 0.8	$ 11.5

Leases (Details) - USD ($) $ in Millions	12 Months Ended
Leases (Details) - USD ($) $ in Millions	Jan. 31, 2021	Jan. 31, 2020
Lessee, Operating Lease, Description [Abstract]
Transition package	true
Option to extend	true
Lessee, operating lease, option to terminate	The exercise of lease renewal options is generally at the Company’s sole discretion. The exercise of lease termination options is generally by mutual agreement between the Company and the lessor.
Variable and short term cost	$ 6.7	$ 16.8
Impairment charge related to the operating lease assets	$ 19.4	$ 9.9
Minimum
Lessee, Operating Lease, Description [Abstract]
Operating lease, contract term	1 year
Renewal term	1 year
Maximum
Lessee, Operating Lease, Description [Abstract]
Operating lease, contract term	10 years
Renewal term	10 years

Leases - Lease assets and liabilities (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Jan. 31, 2020
Assets and Liabilities, Lessee [Abstract]
Operating lease assets	$ 186,070	$ 270,032
Classification of operating lease assets	us-gaap:OperatingLeaseRightOfUseAsset
Total lease assets	$ 186,070	270,032
Current operating lease liabilities	$ 43,560	63,166
Classification current operating lease liabilities	us-gaap:OperatingLeaseLiabilityCurrent
Noncurrent operating lease liabilities	$ 161,668	249,040
Classification of noncurrent operating liabilities	us-gaap:OperatingLeaseLiabilityNoncurrent
Total lease liabilities	$ 205,228	$ 312,206

Leases - Lease cost (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Lease cost (Details) - USD ($) $ in Millions	Jan. 31, 2021	Jan. 31, 2020
Selling, general and administrative expenses
Lease, Cost [Abstract]
Lease costs	$ 92.4	$ 98.4

Leases - Future minimum payments under our operating lease (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Jan. 31, 2020
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2022	$ 58,045
2023	51,312
2024	38,408
2025	31,315
2026	24,837
After 2026	55,362
Total lease payments	259,279
Less: Interest	54,051
Present value of lease liabilities	$ 205,228	$ 312,206

Leases - Other information (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Leases [Abstract]
Weighted average remaining lease term	5 years 8 months 12 days
Weighted average discount rate	8.30%
Cash paid for amounts included in the measurement of operating lease liabilities	$ 108.9	$ 100.8
Right-of-use assets obtained in exchange for lease obligations	$ 56.6	$ 27.0

INTANGIBLE ASSETS - Intangible assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Goodwill And Intangible Assets [Line Items]
Subtotal	$ 79,132	$ 77,423
Accumulated amortization	(44,073)	(39,060)
Total finite-lived intangible assets	35,059	38,363
Indefinite-lived intangible assets
Goodwill	263,135	260,622	$ 261,137
Trademarks	443,612	438,658
Total indefinite-lived intangible assets	706,747	699,280
Total intangible assets, net	$ 741,806	737,643
Minimum
Indefinite-lived intangible assets
Estimated Life	5 years
Maximum
Indefinite-lived intangible assets
Estimated Life	17 years
Licenses
Goodwill And Intangible Assets [Line Items]
Subtotal	$ 19,884	19,258
Accumulated amortization	(16,959)	(16,107)
Total finite-lived intangible assets	$ 2,925	$ 3,151
Indefinite-lived intangible assets
Estimated Life	14 years	14 years
Trademarks
Goodwill And Intangible Assets [Line Items]
Subtotal	$ 2,194	$ 2,194
Accumulated amortization	$ (2,194)	$ (2,194)
Trademarks \| Minimum
Indefinite-lived intangible assets
Estimated Life	8 years	8 years
Trademarks \| Maximum
Indefinite-lived intangible assets
Estimated Life	12 years	12 years
Customer relationships
Goodwill And Intangible Assets [Line Items]
Subtotal	$ 48,430	$ 48,214
Accumulated amortization	(17,843)	(14,831)
Total finite-lived intangible assets	$ 30,587	$ 33,383
Customer relationships \| Minimum
Indefinite-lived intangible assets
Estimated Life	15 years	15 years
Customer relationships \| Maximum
Indefinite-lived intangible assets
Estimated Life	17 years	17 years
Other
Goodwill And Intangible Assets [Line Items]
Subtotal	$ 8,624	$ 7,757
Accumulated amortization	(7,077)	(5,928)
Total finite-lived intangible assets	$ 1,547	$ 1,829
Other \| Minimum
Indefinite-lived intangible assets
Estimated Life	5 years	5 years
Other \| Maximum
Indefinite-lived intangible assets
Estimated Life	10 years	10 years

INTANGIBLE ASSETS - Estimated amortization expense (Details) $ in Thousands	Jan. 31, 2021 USD ($)
Intangible Assets [Abstract]
2022	$ 3,643
2023	3,301
2024	3,074
2025	3,035
2026	$ 3,028

INTANGIBLE ASSETS - Change in Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 260,622	$ 261,137
Currency translation	2,513	(515)
Goodwill, Ending Balance	263,135	260,622
Wholesale
Goodwill [Roll Forward]
Goodwill, Beginning Balance	260,622	261,137
Currency translation	2,513	(515)
Goodwill, Ending Balance	263,135	260,622
Retail [Member]
Goodwill [Roll Forward]
Goodwill, Beginning Balance
Currency translation
Goodwill, Ending Balance

INTANGIBLE ASSETS - Textuals (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Business Acquisition [Line Items]
Intangible assets amortization expense	$ 4,300	$ 4,500	$ 4,600
Goodwill	263,135	260,622	261,137
Retail [Member]
Business Acquisition [Line Items]
Goodwill

NOTES PAYABLE AND OTHER LIABILITIES - Long-term debt (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Aug. 06, 2020	Jan. 31, 2020
Debt Instrument [Line Items]
Total	$ 507,950		$ 396,794
Debt issuance costs	7,200		4,600
Long-term Debt
Debt Instrument [Line Items]
Subtotal	537,126		427,860
Less: Net debt issuance costs	(7,643)		(7,402)
Debt discount	(17,131)		(22,991)
Current portion of long-term debt	(4,402)		(673)
Secured notes
Debt Instrument [Line Items]
Debt issuance costs	8,500
Secured notes \| Long-term Debt
Debt Instrument [Line Items]
Subtotal	400,000
Term Loan
Debt Instrument [Line Items]
Total		$ 300,000
Term Loan \| Long-term Debt
Debt Instrument [Line Items]
Subtotal			300,000
LVMH Note
Debt Instrument [Line Items]
Debt discount	(40,000)
LVMH Note \| Long-term Debt
Debt Instrument [Line Items]
Subtotal	125,000		125,000
Unsecured Loan \| Long-term Debt
Debt Instrument [Line Items]
Subtotal	9,119		$ 2,860
Overdraft facilities \| Long-term Debt
Debt Instrument [Line Items]
Subtotal	$ 3,007

NOTES PAYABLE AND OTHER LIABILITIES - Textuals (Details) $ in Thousands, € in Millions, SFr in Millions	12 Months Ended
	Jan. 31, 2021 EUR (€)	Jan. 31, 2021 USD ($)	Jan. 31, 2021 CHF (SFr)	Jan. 31, 2021 EUR (€)	Aug. 07, 2020 USD ($)	Jan. 31, 2020 USD ($)
Debt Instrument [Line Items]
Debt issuance costs		$ 7,200				$ 4,600
Long-term Debt
Debt Instrument [Line Items]
Debt instruments, carrying value		537,126				427,860
Debt discount		17,131				22,991
Secured notes
Debt Instrument [Line Items]
Interest rate terms	The Notes bear interest at a rate of 7.875% per year payable semi-annually in arrears on February 15 and August 15 of each year, commencing on February 15, 2021.
Debt issuance costs		$ 8,500
Debt instrument interest rate		7.875%	7.875%	7.875%	7.875%
Frequency of periodic payment	semi-annually
Date of first payment	Feb. 15, 2021
Principal amount of debt					$ 400,000
Secured notes \| Prior to August 15, 2022 [Member]
Debt Instrument [Line Items]
Redemption percentage	100.00%
Maximum percentage of aggregate principal amount of Notes which may be redeemed with equity offerings		40.00%	40.00%	40.00%
Secured notes \| Any twelve month period prior to August 15, 2022 [Member]
Debt Instrument [Line Items]
Redemption percentage	103.00%
Maximum percentage of aggregate principal amount of notes which may be redeemed in a 12 month period	10.00%
Secured notes \| If Company experiences a Change of Control [Member]
Debt Instrument [Line Items]
Redemption percentage	101.00%
Secured notes \| Long-term Debt
Debt Instrument [Line Items]
Debt instruments, carrying value		$ 400,000
LVMH Note
Debt Instrument [Line Items]
Debt instrument interest rate		2.00%	2.00%	2.00%
Principal amount of debt		$ 125,000
Debt discount		40,000
LVMH Note \| Notes Payable Due On June 1 2023
Debt Instrument [Line Items]
Principal amount of debt		75,000
Maturity date	Jun. 01, 2023
LVMH Note \| Notes Payable due on December 1, 2023
Debt Instrument [Line Items]
Principal amount of debt		50,000
Maturity date	Dec. 01, 2023
LVMH Note \| Long-term Debt
Debt Instrument [Line Items]
Debt instruments, carrying value		125,000				125,000
Unsecured Loan \| T.R.B. International SA
Debt Instrument [Line Items]
Unused debt amount \| €				€ 7.4
Installment payments \| €	€ 0.2
Unsecured Loan \| Long-term Debt
Debt Instrument [Line Items]
Debt instruments, carrying value		$ 9,119				$ 2,860
Overdraft facility
Debt Instrument [Line Items]
Principal amount of debt			SFr 4.7	€ 5.0
Fixed rate		1.75%	1.75%	1.75%
Debt facility amount \| €				€ 2.5
Minimum
Debt Instrument [Line Items]
Unused debt amount		$ 450,000
Minimum \| Unsecured Loan \| T.R.B. International SA
Debt Instrument [Line Items]
Debt instrument interest rate		0.00%	0.00%	0.00%
Minimum \| Overdraft facility
Debt Instrument [Line Items]
Variable interest rate		0.00%	0.00%	0.00%
Maximum \| Unsecured Loan \| T.R.B. International SA
Debt Instrument [Line Items]
Debt instrument interest rate		2.00%	2.00%	2.00%
Maximum \| Overdraft facility
Debt Instrument [Line Items]
Variable interest rate		0.50%	0.50%	0.50%

NOTES PAYABLE AND OTHER LIABILITIES - Term loan and Senior secured credit facility (Details) - USD ($) $ in Thousands			6 Months Ended	12 Months Ended
	Aug. 07, 2020	Aug. 06, 2020	Aug. 06, 2020	Jan. 31, 2021	Jan. 31, 2020
Debt Instrument [Line Items]
Outstanding amount				$ 507,950	$ 396,794
Unamortized debt issuance costs		$ 3,300	$ 3,300
Debt issuance costs				$ 7,200	4,600
Interest expense		400
Second amended and restated credit agreement \| Maximum
Debt Instrument [Line Items]
Commitment fee percentage				0.50%
Second amended and restated credit agreement \| Minimum
Debt Instrument [Line Items]
Commitment fee percentage				0.35%
Senior secured credit facility
Debt Instrument [Line Items]
Debt issuance costs	$ 8,000
Senior secured credit facility \| One-month LIBOR
Debt Instrument [Line Items]
Spread interest rate	1.00%
Senior secured credit facility \| Federal funds rate
Debt Instrument [Line Items]
Spread interest rate	0.50%
Senior secured credit facility \| Second amended and restated credit agreement
Debt Instrument [Line Items]
Outstanding amount				$ 0
Debt issuance costs	$ 5,100
Term of credit agreement	5 years
Weighted average interest rate				2.04%
Fixed charge coverage ratio				1.00%
Credit covenant compliance				As of January 31, 2021, the Company was in compliance with these covenants.
Senior secured credit facility \| Second amended and restated credit agreement \| Base rate \| Maximum
Debt Instrument [Line Items]
Spread interest rate	1.25%
Senior secured credit facility \| Second amended and restated credit agreement \| Base rate \| Minimum
Debt Instrument [Line Items]
Spread interest rate	0.75%
Senior secured credit facility \| Second amended and restated credit agreement \| LIBOR \| Maximum
Debt Instrument [Line Items]
Spread interest rate	2.25%
Senior secured credit facility \| Second amended and restated credit agreement \| LIBOR \| Minimum
Debt Instrument [Line Items]
Spread interest rate	1.75%
Trade Letters of Credit
Debt Instrument [Line Items]
Outstanding amount				$ 6,600
Standby Letters of Credit
Debt Instrument [Line Items]
Outstanding amount				$ 3,900
Term Loan
Debt Instrument [Line Items]
Proceeds from borrowings					$ 350,000
Repayments of debt	$ 300,000		50,000
Outstanding amount		$ 300,000	$ 300,000
Unamortized debt issuance costs	6,100
Term Loan \| Senior secured credit facility \| Second amended and restated credit agreement
Debt Instrument [Line Items]
Senior secured credit facility	$ 650,000

NOTES PAYABLE AND OTHER LIABILITIES - Future Debt Maturities (Detail) $ in Thousands	Jan. 31, 2021 USD ($)
Notes Payable and Other Liabilities [Abstract]
2022	$ 4,402
2023	1,718
2024	126,822
2025	2,147
2026 and thereafter	$ 402,037

NOTES PAYABLE AND OTHER LIABILITIES - Accrued expenses (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Jan. 31, 2020
Notes Payable and Other Liabilities [Abstract]
Accrued bonuses	$ 23,851	$ 40,980
Other accrued expenses	78,936	60,858
Total	$ 102,787	$ 101,838

INCOME TAXES - Components of Income Tax Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Current
Federal	$ (15,828)	$ 22,471	$ 23,463
State and city	(491)	4,856	5,907
Foreign	3,803	10,615	10,989
Current Income Tax Expense (Benefit), Total	(12,516)	37,942	40,359
Deferred
Federal	22,770	8,250	4,419
State and city	3,364	315	191
Foreign	(1,415)	(8,246)	794
Deferred Income Tax Expense (Benefit), Total	24,719	319	5,404
Income tax expense	12,203	38,261	45,763
Income before income taxes
United States	37,727	138,292	137,748
Non-United States	(2,001)	43,806	46,082
Income before income taxes	$ 35,726	$ 182,098	$ 183,830

INCOME TAXES - Summary of Significant Components of Net Deferred Tax Assets (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Jan. 31, 2020
Deferred Income Tax Assets:
Compensation	$ 2,673	$ 8,379
Inventory	6,780	4,498
Provision for bad debts and sales allowances	18,531	34,197
Supplemental employee retirement plan	584	511
Net operating loss	12,703	4,877
Operating lease liability	35,658	67,044
Foreign tax credit carryforward	4,962
Other	3,792	1,148
Gross deferred income tax assets	85,683	120,654
Less: valuation allowance	(13,272)	(4,929)
Net deferred income tax assets	72,411	115,725
Deferred income tax liabilities:
Depreciation and amortization	(41,185)	(33,539)
Intangibles	(14,271)	(13,602)
Operating lease asset	(30,182)	(55,801)
Prepaid expenses and other	(2,028)	(2,600)
Total deferred income tax liabilities	(87,666)	(105,542)
Net deferred tax assets		$ 10,183
Net deferred tax liabilities	$ (15,255)

INCOME TAXES - Reconciliation of Statutory Federal Income Tax Rate to Effective Rate Reported in Financial Statements (Details)	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Income Tax Disclosure [Abstract]
Provision for Federal income taxes at the statutory rate	21.00%	21.00%	21.00%
State and local income taxes, net of Federal tax benefit	(0.60%)	1.90%	2.40%
Permanent differences resulting in Federal taxable income	12.80%	5.90%	6.60%
Foreign tax rate differential	(0.30%)	(3.80%)	0.50%
Share-based payments	12.50%	(0.80%)	(0.60%)
Foreign tax credit	(7.30%)	(3.50%)	(5.50%)
Valuation allowance	13.70%	0.90%	0.20%
Net operating loss carryback	(18.60%)
Other, net	1.00%	(0.60%)	0.30%
Actual provision for income taxes	34.20%	21.00%	24.90%

INCOME TAXES - Reconciliation of the beginning and ending amounts of gross unrecognized tax benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at February 1,	$ 2,111		$ 82
Additions for tax positions of prior years	182	$ 2,111
Lapses of statutes of limitations			$ (82)
Balance at January 31,	$ 2,293	$ 2,111

INCOME TAXES - Textuals (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES - Textuals (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Income Tax Disclosure [Abstract]
Income Tax Expense (Benefit)	$ 12,203	$ 38,261	$ 45,763
GILTI net tax impact	0
Deferred tax liabilities related to intangible assets	14,271	$ 13,602
Undistributed earnings of foreign subsidiaries	$ 80,000
Percentage change in effective tax rate from prior year	13.20%	3.90%
Corporate income tax rate	21.00%	21.00%	21.00%
Valuation allowance of deferred tax assets	$ 8,300
Decrease in unrecognized tax position reserve for current year accrual of interest and penalties	$ 200
Percentage of bonus depreciation from CARES Act elected	100.00%

COMMITMENTS AND CONTINGENCIES - Future Minimum Rental Payments for Operating Leases Having Non-Cancelable Lease Periods in Excess of One Year (Details) $ in Thousands	Jan. 31, 2021 USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2022	$ 58,045
2023	51,312
2024	38,408
2025	31,315
2026	24,837
Thereafter	55,362
Total lease payments	$ 259,279

COMMITMENTS AND CONTINGENCIES - Future Minimum Royalty and Advertising Payments (Details) - Royalty and Advertising Payments $ in Thousands	Jan. 31, 2021 USD ($)
Licenses Agreements [Line Items]
2022	$ 107,199
2023	91,225
2024	89,474
2025	31,540
2026	25,618
Future minimum royalty and advertising payments, total	$ 345,056

COMMITMENTS AND CONTINGENCIES - Textuals (Details) $ in Thousands, $ in Millions			1 Months Ended	12 Months Ended				35 Months Ended
	Mar. 14, 2018 USD ($)	Mar. 14, 2018 CAD ($)	Oct. 27, 2017	Jan. 31, 2021 USD ($)	Jan. 31, 2021 CAD ($)	Jan. 31, 2020 USD ($)	Jan. 31, 2019 USD ($)	Jan. 31, 2021 USD ($)	Jan. 31, 2021 CAD ($)
Commitment And Contingencies [Line Items]
Advertising expense				$ 55,300		$ 94,700	$ 87,800
Interest paid				800	$ 1.0
Deferred expenses				0				$ 11,600	$ 14.4
CBSA
Commitment And Contingencies [Line Items]
Reassessment period to additional duties			90 days
Licenses
Commitment And Contingencies [Line Items]
Royalty expense				116,800		178,800	165,700
Advertising expense				$ 29,500		$ 48,300	$ 46,200
G-III Apparel Canada ULC
Commitment And Contingencies [Line Items]
Value of bond issued for prepayments of additional duties	$ 20,900	$ 26.9

STOCKHOLDERS' EQUITY - Restricted Stock (Details) - $ / shares	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Restricted Stock Units (RSUs)
Awards Outstanding
Unvested, beginning balance	242,943	281,825	327,014
Granted	1,280,664	142,594	137,723
Vested	(107,917)	(168,781)	(159,663)
Canceled	(22,422)	(12,695)	(23,249)
Unvested, ending balance	1,393,268	242,943	281,825
Weighted Average Grant Date Fair Value
Unvested, beginning balance	$ 37.95	$ 34.56	$ 30.59
Granted	10.25	37.74	38.32
Vested	37.96	32.32	30.38
Canceled	39.41	35.09	29.69
Unvested, ending balance	$ 12.47	$ 37.95	$ 34.56
Performance Shares [Member]
Awards Outstanding
Unvested, beginning balance	1,058,710	1,539,794	1,445,563
Granted		332,651	391,530
Vested	(279,053)	(810,655)	(292,266)
Canceled	(312,827)	(3,080)	(5,033)
Unvested, ending balance	466,830	1,058,710	1,539,794
Weighted Average Grant Date Fair Value
Unvested, beginning balance	$ 36.15	$ 30.15	$ 29.26
Granted		35.77	30.23
Vested	32.43	24.58	25.91
Canceled	42.41	42.41	27.10
Unvested, ending balance	$ 34.17	$ 36.15	$ 30.15

STOCKHOLDERS' EQUITY - Information Regarding All Stock Options (Details) - $ / shares	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Shares
Stock options outstanding at beginning of year	39,311	55,311	62,666
Exercised	(21,066)	(13,200)	(15,600)
Granted	0	0	8,245
Cancelled or forfeited		(2,800)
Stock options outstanding at end of year	18,245	39,311	55,311
Exercisable	18,245	35,188	47,066
Weighted Average Exercise Price
Stock options outstanding at beginning of year	$ 18.51	$ 15.70	$ 11.50
Exercised	14.07	8.71	6.55
Granted			30.32
Cancelled or forfeited		9.20
Stock options outstanding at end of year	23.63	18.51	15.70
Exercisable	$ 23.63	$ 17.12	$ 13.14

STOCKHOLDERS' EQUITY - Summary of Information about Stock Options Outstanding (Details)	12 Months Ended
	Jan. 31, 2021 $ / shares shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number, Outstanding Shares \| shares	18,245
Number, Exercisable Shares \| shares	18,245
Exercisable Price Range $18.11 - $30.32
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Prices, minimum \| $ / shares	$ 18.11
Range of Exercise Prices, maximum \| $ / shares	$ 30.32
Number, Outstanding Shares \| shares	18,245
Weighted Average Remaining Contractual Life	1 year 6 months
Weighted Average Exercise Price \| $ / shares	$ 23.63
Number, Exercisable Shares \| shares	18,245
Weighted Average Exercise Price, Exercisable \| $ / shares	$ 23.63

STOCKHOLDERS' EQUITY - Textuals (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Stockholders Equity [Line Items]
Number of shares authorized to be repurchased under prior program	5,000,000
Common stock share acquired	0	1,327,566	723,072
Aggregate purchase price		$ 35,216	$ 20,311
Granted	0	0	8,245
Lock up period after vesting	2 years
Proceeds from exercise of equity awards	$ 297	$ 115	$ 101
Long-Term Incentive Stock Plan
Stockholders Equity [Line Items]
Shares available for grant	1,811,490
Restricted Stock Units (RSUs)
Stockholders Equity [Line Items]
Vesting and exercise period of awards	3 years
Restricted Stock Units (RSUs) \| Long-Term Incentive Stock Plan
Stockholders Equity [Line Items]
Vesting and exercise period of awards	3 years
Share-based compensation expense	$ 6,100	17,600	19,700
Unrecognized stock compensation related to unvested option awards	12,900	18,700	19,400
Fair value of award for which restrictions lapsed	$ 5,000	31,000	17,500
Performance Shares [Member]
Stockholders Equity [Line Items]
Vesting and exercise period of awards	3 years
Lock up period after vesting	2 years
Performance Shares [Member] \| Minimum
Stockholders Equity [Line Items]
Vesting and exercise period of awards	2 years
Performance Shares [Member] \| Maximum
Stockholders Equity [Line Items]
Vesting and exercise period of awards	5 years
Stock Options
Stockholders Equity [Line Items]
Weighted average remaining term for stock options outstanding	1 year 6 months
Aggregate intrinsic value for stock options outstanding	$ 100
Aggregate intrinsic value for stock option exercisable	100
Proceeds from exercise of equity awards	300	100
Intrinsic value of stock options exercised	100	300
Share-based compensation expense	$ 100	$ 100	$ 0
Stock Options \| Maximum
Stockholders Equity [Line Items]
Vesting and exercise period of awards	10 years

CONCENTRATION - Textuals (Details)	12 Months Ended
CONCENTRATION - Textuals (Details)	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Customer One \| Accounts Receivable [Member]
Revenue, Major Customer [Line Items]
Percentage of concentration risk	19.80%	25.70%
Customer Two \| Accounts Receivable [Member]
Revenue, Major Customer [Line Items]
Percentage of concentration risk	19.50%	17.00%
Customer Three \| Accounts Receivable [Member]
Revenue, Major Customer [Line Items]
Percentage of concentration risk	15.10%	10.00%
Customer Four \| Accounts Receivable [Member]
Revenue, Major Customer [Line Items]
Percentage of concentration risk	10.10%
Customer \| Customer One \| Sales Revenue, Net [Member]
Revenue, Major Customer [Line Items]
Percentage of concentration risk	20.90%	26.30%	24.80%
Customer \| Customer Two \| Sales Revenue, Net [Member]
Revenue, Major Customer [Line Items]
Percentage of concentration risk	12.90%	13.20%	12.40%

EMPLOYEE BENEFIT PLANS - Textuals (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Defined Contribution Plan Disclosure [Line Items]
Non-discretionary matching contribution	100.00%
Percentage of employee's compensation matched by employer	3.00%
Employer matching percentage of employee contributions	50.00%
Percentage of additional employee's compensation matched by employer	2.00%
DKI
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, matching contributions	$ 1.5	$ 4.7	$ 3.8

SEGMENTS - Information Regarding Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jan. 31, 2021	Oct. 31, 2020	Jul. 31, 2020	Apr. 30, 2020	Jan. 31, 2020	Oct. 31, 2019	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Segment Reporting Information [Line Items]
Net sales	$ 526,242	$ 826,561	$ 297,212	$ 405,131	$ 754,617	$ 1,128,403	$ 643,892	$ 633,552	$ 2,055,146	$ 3,160,464	$ 3,076,208
Cost of goods sold									1,310,704	2,042,524	1,969,099
Gross profit	$ 187,593	$ 297,755	$ 134,693	$ 124,401	$ 251,088	$ 399,019	$ 231,769	$ 236,064	744,442	1,117,940	1,107,109
Selling, general and administrative expenses									605,102	832,180	834,763
Depreciation and amortization									38,625	38,735	38,819
Asset impairments									17,873	19,371	2,813
Operating profit (loss)									82,842	227,654	230,714
Operating Segments \| Wholesale
Segment Reporting Information [Line Items]
Net sales									1,916,763	2,862,889	2,716,958
Cost of goods sold									1,229,548	1,925,062	1,837,335
Gross profit									687,215	937,827	879,623
Selling, general and administrative expenses									444,549	604,377	570,290
Depreciation and amortization									31,998	30,806	29,644
Asset impairments									1,010	412
Operating profit (loss)									209,658	302,232	279,689
Operating Segments \| Retail [Member]
Segment Reporting Information [Line Items]
Net sales									170,421	385,910	476,764
Cost of goods sold									113,194	205,797	249,278
Gross profit									57,227	180,113	227,486
Selling, general and administrative expenses									160,553	227,803	264,473
Depreciation and amortization									6,627	7,929	9,175
Asset impairments									16,863	18,959	2,813
Operating profit (loss)									(126,816)	(74,578)	(48,975)
Elimination
Segment Reporting Information [Line Items]
Net sales									(32,038)	(88,335)	(117,514)
Cost of goods sold									$ (32,038)	$ (88,335)	$ (117,514)

SEGMENTS - Information of Total Assets for Company's Reportable Segments (Details) - USD ($) $ in Thousands	Jan. 31, 2021	Jan. 31, 2020
Segment Reporting Information [Line Items]
Total assets	$ 2,436,386	$ 2,565,137
Corporate Segment
Segment Reporting Information [Line Items]
Total assets	506,079	380,130
Operating Segments \| Wholesale
Segment Reporting Information [Line Items]
Total assets	1,844,682	1,912,175
Operating Segments \| Retail [Member]
Segment Reporting Information [Line Items]
Total assets	$ 85,625	$ 272,832

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(11))
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
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SEGMENTS - Method of Overhead Allocation (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jan. 31, 2021	Oct. 31, 2020	Jul. 31, 2020	Apr. 30, 2020	Jan. 31, 2020	Oct. 31, 2019	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 526,242	$ 826,561	$ 297,212	$ 405,131	$ 754,617	$ 1,128,403	$ 643,892	$ 633,552	$ 2,055,146	$ 3,160,464	$ 3,076,208
Long-Lived Assets	1,092,346				1,196,449				1,092,346	1,196,449	954,163
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									1,755,791	2,774,492	2,656,479
Long-Lived Assets	834,181				964,476				834,181	964,476	762,444
Non-United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									299,355	385,972	419,729
Long-Lived Assets	$ 258,165				$ 231,973				$ 258,165	$ 231,973	$ 191,719

- Definition

Amount, including 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.

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SEGMENTS - Textuals (Details) $ in Millions	12 Months Ended
SEGMENTS - Textuals (Details) $ in Millions	Jan. 31, 2021 USD ($) segment	Jan. 31, 2020 USD ($)	Jan. 31, 2019 USD ($)
Segments [Abstract]
Number of operating segments \| segment	2
Capital expenditures for outside of United States \| $	$ 3.0	$ 4.6	$ 4.3

Fabco Holding B.V. (Detail) - USD ($) $ in Millions		3 Months Ended	10 Months Ended	12 Months Ended
Fabco Holding B.V. (Detail) - USD ($) $ in Millions	Dec. 01, 2020	Jan. 31, 2021	Nov. 30, 2020	Jan. 31, 2021
Investment in Fabco Holding B.V.
Fair value of investment held previously			$ 1.0
Fabco Holding B.V. [Member]
Investment in Fabco Holding B.V.
Percent of interest acquired in joint venture			49.00%
Subsidiary ownership percentage	75.00%
Pretax bargain purchase gain				$ 1.7
Fabco Holding B.V. [Member] \| Amlon Capital B.V.
Investment in Fabco Holding B.V.
Percent of interest acquired in joint venture	25.00%		51.00%
Fabco Holding B.V. [Member] \| Corporate Joint Venture [Member]
Investment in Fabco Holding B.V.
Equity issued to fund joint venture		$ 25.0
Aggregate contribution in joint venture		$ 10.0

EQUITY INVESTMENT - Textuals (Details) $ in Thousands, € in Millions		1 Months Ended			12 Months Ended
	Dec. 01, 2020	Feb. 29, 2016 USD ($)	Feb. 29, 2016 EUR (€)	Jun. 30, 2015 USD ($)	Jan. 31, 2019 USD ($)	Nov. 30, 2020
Schedule of Equity Method Investments [Line Items]
Equity issued in joint venture					$ 9,951
Karl Lagerfeld Holding B.V. [Member]
Schedule of Equity Method Investments [Line Items]
Amount paid to acquired interest in joint venture		$ 35,400	€ 32.5
KL North America
Schedule of Equity Method Investments [Line Items]
Ownership percent				49.00%
Amount paid to acquired interest in joint venture				$ 25,000
Kingdom Holding 1 BV ("KH1")
Schedule of Equity Method Investments [Line Items]
Ownership percent		19.00%	19.00%
Fabco Holding B.V. [Member]
Schedule of Equity Method Investments [Line Items]
Ownership percent						49.00%
Subsidiary ownership percentage	75.00%

RELATED PARTY TRANSACTIONS - Textuals (Details) - USD ($) $ in Thousands	3 Months Ended								11 Months Ended	12 Months Ended
	Jan. 31, 2021	Oct. 31, 2020	Jul. 31, 2020	Apr. 30, 2020	Jan. 31, 2020	Oct. 31, 2019	Jul. 31, 2019	Apr. 30, 2019	Nov. 30, 2020	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Related Party Transaction [Line Items]
Revenues	$ 526,242	$ 826,561	$ 297,212	$ 405,131	$ 754,617	$ 1,128,403	$ 643,892	$ 633,552		$ 2,055,146	$ 3,160,464	$ 3,076,208
KLNA
Related Party Transaction [Line Items]
Royalty and advertising expense										$ 3,500	6,800	6,400
KLNA \| KLNA
Related Party Transaction [Line Items]
Percent of interest acquired in joint venture	49.00%									49.00%
Fabco
Related Party Transaction [Line Items]
Inventory sold to related party										$ 2,700	4,400
Revenue from related party									$ 900
Revenues											3,100	$ 2,200
Prepaid expenses					500						500
Due to related party					$ 100						$ 100
Fabco \| Fabco
Related Party Transaction [Line Items]
Percentage of ownership interest									49.00%

QUARTERLY FINANCIAL DATA (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Jan. 31, 2021	Oct. 31, 2020	Jul. 31, 2020	Apr. 30, 2020	Jan. 31, 2020	Oct. 31, 2019	Jul. 31, 2019	Apr. 30, 2019	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Net sales	$ 526,242	$ 826,561	$ 297,212	$ 405,131	$ 754,617	$ 1,128,403	$ 643,892	$ 633,552	$ 2,055,146	$ 3,160,464	$ 3,076,208
Gross profit	187,593	297,755	134,693	124,401	251,088	399,019	231,769	236,064	744,442	1,117,940	1,107,109
Net income	$ 14,642	$ 63,174	$ (14,976)	$ (39,295)	$ 25,288	$ 95,387	$ 11,119	$ 12,043	$ 23,545	$ 143,837	$ 138,067
NET INCOME PER COMMON SHARE:
Basic (in dollars per share)	$ 0.30	$ 1.31	$ (0.31)	$ (0.82)	$ 0.53	$ 2.00	$ 0.23	$ 0.25	$ 0.49	$ 2.98	$ 2.81
Diluted (in dollars per share)	$ 0.30	$ 1.29	$ (0.31)	$ (0.82)	$ 0.52	$ 1.97	$ 0.23	$ 0.24	$ 0.48	$ 2.94	$ 2.75

- Definition

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

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QUARTERLY FINANCIAL DATA (UNAUDITED) - Textuals (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Jan. 31, 2021	Jul. 31, 2020	Jan. 31, 2020	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Quarterly Financial Data [Line Items]
Asset impairments, net of loss (gain) on lease terminations				$ 17,873	$ 19,371	$ 2,813
Impairment of Leasehold						$ 9,600
Wilsons Leather, G.H. Bass and DKNY Stores
Quarterly Financial Data [Line Items]
Asset impairments, net of loss (gain) on lease terminations			$ 21,800
DKNY and Vilebrequin Stores [Member]
Quarterly Financial Data [Line Items]
Impairment of Leasehold	$ 700
Furniture and fixtures \| Wilsons Leather, G.H. Bass and DKNY Stores
Quarterly Financial Data [Line Items]
Impairment of Leasehold		$ 19,800

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 234,128	$ 244,514	$ 165,416
ASC 606 Transition Adjustment			66,617
Charges to Cost and Expenses	159,567	478,996	432,755
Deductions	276,881	489,382	420,274
Balance at End of Period	116,814	234,128	244,514
Allowance for doubtful accounts
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	710	924	2,093
Charges to Cost and Expenses	16,882	(72)	(140)
Deductions	133	142	1,029
Balance at End of Period	17,459	710	924
Reserve for returns
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	46,489	62,278	61,179
Charges to Cost and Expenses	41,348	56,440	57,777
Deductions	47,133	72,229	56,678
Balance at End of Period	40,704	46,489	62,278
Reserve for sales allowances
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	186,929	181,312	102,144
ASC 606 Transition Adjustment			66,617
Charges to Cost and Expenses	101,337	422,628	375,118
Deductions	229,615	417,011	362,567
Balance at End of Period	$ 58,651	$ 186,929	$ 181,312