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CONCENTRATION
12 Months Ended
Jan. 31, 2019
Risks and Uncertainties [Abstract]  
CONCENTRATION

 

NOTE J — CONCENTRATION

 

Major Customers

 

Two customers in the wholesale operations segment accounted for approximately 24.8% and 12.4%, respectively, of the Company’s net sales for the year ended January 31, 2019. One customer accounted for 22.2% and 21.8% of the Company’s net sales for the years ended January 31, 2018 and 2017, respectively. Two customers in the wholesale operations segment accounted for approximately 27.5% and 16.5%, respectively, of the Company’s net accounts receivable as of January 31, 2019. Two customers accounted for approximately 22.2% and 17.2%, respectively, of the Company’s net accounts receivable as of January 31, 2018.

 

Inventory Sourcing

 

The Company sourced from China approximately 61.5%,  65.1% and 72.0% of the inventory purchased for the years ended January 31, 2019, 2018 and 2017, respectively. During the year ended January 31, 2019 and 2018, the Company sourced 14.4% and 14.7% of its purchases from one vendor in China, respectively.  During the year ended January 31, 2017, the Company sourced 23.9% (13.6% and 10.3%) of its purchases from two vendors in China. The Company believes it has alternative manufacturing sources available to meet its current and future production requirements in the event the Company is required to change current manufacturers or current manufacturers are unavailable to fulfill the Company’s production needs.