Business Combinations (Tables)

9 Months Ended

Oct. 29, 2022

Business Combinations

Summary of our preliminary allocation of the purchase price

	Johnny Was acquisition
Cash and cash equivalents	$	7,288
Receivables		10,258
Inventories (1)		23,283
Prepaid expenses		4,417
Property and equipment		21,212
Intangible assets		134,640
Goodwill		92,457
Operating lease assets		54,485
Other non-current assets		656
Accounts payable, accrued expenses and other liabilities		(30,743)
Non-current portion of operating lease liabilities		(47,009)
Purchase price	$	270,944

(1) Includes a preliminary estimate for the step-up of acquired inventory from cost to fair value of $4 million pursuant to the purchase method of accounting. This step-up amount will be recognized in cost of goods sold as the acquired inventory is sold, including $1 million recognized in our consolidated statement of operations in the Third Quarter of Fiscal 2022. The remainder of the step-up is expected to be recognized in the Fourth Quarter of Fiscal 2022.

Summary of Intangible assets allocated in connection with our preliminary purchase price allocation

		Johnny Was
	Useful life	acquisition
Finite lived intangible assets acquired, primarily consisting of customer relationships	8 - 13 years	$	56,740
Trade names and trademarks	Indefinite		77,900
		$	134,640

Schedule of pro forma statements of operations

Schedule of pro forma statements of operations

	Third Quarter				First Nine Months
	Fiscal 2022		Fiscal 2021		Fiscal 2022		Fiscal 2021
Net sales	$	344,058	$	294,416	$	1,163,889	$	976,718
Earnings before income taxes	$	36,085	$	33,424	$	198,341	$	135,889
Net earnings	$	26,767	$	28,264	$	149,354	$	108,221
Earnings per share:
Basic	$	1.70	$	1.70	$	9.34	$	6.51
Diluted	$	1.66	$	1.68	$	9.14	$	6.43