Quarterly report pursuant to Section 13 or 15(d)

SEGMENTS AND GEOGRAPHIC INFORMATION

v3.20.2
SEGMENTS AND GEOGRAPHIC INFORMATION
9 Months Ended
Oct. 31, 2020
SEGMENTS AND GEOGRAPHIC INFORMATION  
SEGMENTS AND GEOGRAPHIC INFORMATION

9. SEGMENTS AND GEOGRAPHIC INFORMATION

We consider Michaels-U.S., Michaels-Canada, and Darice to be our operating segments for purposes of determining reportable segments based on the criteria of ASC 280, Segment Reporting (“ASC 280”). We determined that Michaels-U.S. and Michaels-Canada have similar economic characteristics and meet the aggregation criteria set forth in ASC 280. Therefore, we combine these operating segments into one reporting segment. Darice does not meet the materiality criteria in ASC 280 and, therefore, is not disclosed separately as a reportable segment. Our chief operating decision makers evaluate historical operating performance and forecast future periods’ operating performance based on operating income.

Our net sales by country are as follows (in thousands):

13 Weeks Ended

39 Weeks Ended

October 31,

November 2,

October 31,

November 2,

2020

2019

2020

2019

United States

$

1,260,095

$

1,105,178

$

3,022,328

$

3,038,315

Canada

 

146,117

 

116,843

 

331,942

 

311,115

Total

$

1,406,212

$

1,222,021

$

3,354,270

$

3,349,430