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RESTRUCTURING ACTIVITIES AND ASSET IMPAIRMENTS
9 Months Ended
May 03, 2014
Restructuring and Related Activities [Abstract]  
RESTRUCTURING ACTIVITIES AND ASSET IMPAIRMENTS
RESTRUCTURING ACTIVITIES AND ASSET IMPAIRMENTS
 
Impairment of an intangible asset
 
During fiscal 2007, the Company made several asset acquisitions under its Blue Marble Brands division, one of which included a licensing agreement under which the Company was permitted to sell products under the seller’s existing trademark in exchange for royalty payments. The fair value of the intangible asset at the time of acquisition was $2.1 million, and was being amortized over a life of 27 years, the maximum life of the licensing agreement including renewal periods. In October 2012, the Company entered into an agreement to terminate its licensing agreement with the former owners. In connection with this termination agreement, during the first quarter of fiscal 2013, the Company recognized an impairment of $1.6 million representing the remaining unamortized balance of the intangible asset. There were no impairments recorded during the nine months ended May 3, 2014.