Commitments and Contingencies - Notes to the Financial Statements

3 Months Ended

Apr. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

NOTE 10 – COMMITMENTS AND CONTINGENCIES:

The Company is, from time to time, involved in routine litigation incidental to the conduct of its business,

including litigation regarding the merchandise that it sells, litigation regarding intellectual property,

litigation instituted by persons injured upon premises under its control, litigation with respect to various

employment matters, including alleged discrimination and wage and hour litigation, and litigation with

present or former employees. 

Although such litigation is routine and incidental to the conduct of the Company’s business, as with any

business of its size with a significant number of employees and significant merchandise sales, such

litigation could result in large monetary awards. Based on information currently available, management

does not believe that any reasonably possible losses arising from current pending litigation will have a

material adverse effect on its condensed consolidated financial statements. However, given the inherent

uncertainties involved in such matters, an adverse outcome in one or more such matters could materially

and adversely affect the Company’s financial condition, results of operations and cash flows in any

particular reporting period. The Company accrues for these matters when the liability is deemed probable

and reasonably estimable.