Intangible Assets and Sale of Business

Acquisitions

During Fiscal 2016, the Company completed the acquisition of Little Burgundy, a small retail footwear chain in Canada for a total purchase price of $35.1 million. The stores acquired are operated within the Journeys Group. During Fiscal 2015, the Company completed acquisitions of primarily small retail chains and one small wholesale business for a total purchase price of $34.9 million. In Fiscal 2014, the Company completed other acquisitions of primarily small retail chains for a total purchase price of $13.6 million. The stores acquired in Fiscal 2015 and 2014 are operated within the Lids Sports Group. The wholesale business acquired in Fiscal 2015 was operated within Lids Team Sports which was sold January 19, 2016.

Other Intangible Assets

Other intangibles by major classes were as follows:



	Leases						Customer Lists						Other*						Total
In thousands	Jan. 30, 2016			Jan. 31, 2015			Jan. 30, 2016			Jan. 31, 2015			Jan. 30, 2016			Jan. 31, 2015			Jan. 30, 2016			Jan. 31, 2015
Gross other intangibles	$	14,841		$	13,616		$	2,622		$	18,244		$	2,053		$	3,114		$	19,516		$	34,974
Accumulated amortization	(12,637		)	(12,301		)	(2,264		)	(9,424		)	(1,046		)	(1,664		)	(15,947		)	(23,389		)
Net Other Intangibles	$	2,204		$	1,315		$	358		$	8,820		$	1,007		$	1,450		$	3,569		$	11,585

*Includes non-compete agreements, vendor contract and backlog.

The amortization of intangibles, including trademarks, was $2.9 million, $3.3 million and $3.2 million for Fiscal 2016, 2015 and 2014, respectively. The amortization of intangibles, including trademarks, will be $0.9 million, $0.2 million, $0.2 million, $0.1 million and $0.1 million for Fiscal 2017, 2018, 2019, 2020 and 2021, respectively.

Sale of Business

On January 19, 2016, the Company completed the sale of the assets of the Lids Team Sports business, which has operated within its Lids Sports Group segment, to BSN Sports, LLC. The Company recognized a gain on the sale estimated at $(4.7) million, net of transaction-related expenses before tax. The results of operations for Lids Team Sports is not a strategic shift that will have a major effect on operations and financial results, and therefore this business has not been presented as a discontinued operation in the Company's Consolidated Financial Statements.

Pursuant to the purchase agreement, on March 18, 2016, the buyer submitted a proposed adjustment of $2.4 million to the purchase price based upon a final calculation of certain working capital items as of the closing date. The Company is reviewing the proposed adjustment and the adjustment is reflected in the Consolidated Financial Statements as having occurred in the fourth quarter of Fiscal 2016.