KARL LAGERFELD ACQUISITION (Tables)

12 Months Ended

Jan. 31, 2023

KARL LAGERFELD ACQUISITION [Abstract]

Schedule of total consideration paid for acquisition

The initial purchase price and the valuation of the prior minority ownership for the acquisition of KLH is as follows (in thousands):

Cash disbursed for the acquisition of KLH	$	168,592
Plus: cash acquired		38,499
Plus: aggregate adjustments to purchase price		516
Initial purchase price		207,607
Plus: fair value of prior minority ownership		102,858
Total consideration	$	310,465

Schedule of fair values of assets acquired and liabilities

The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of acquisition:

(In thousands)
Cash and cash equivalents	$	38,499
Accounts receivable, net		28,449
Inventories		33,489
Prepaid income taxes		1,100
Prepaid expenses and other current assets		3,347
Property, plant and equipment, net		11,545
Operating lease assets		55,753
Goodwill		84,336
Trademarks		178,823
Customer relationships		4,294
Deferred income taxes		5,131
Other long-term assets		2,237
Total assets acquired	$	447,003
Notes payable		3,606
Accounts payable		9,175
Accrued expenses		15,261
Operating lease liabilities		58,942
Income taxes payable		2,099
Deferred income taxes		42,222
Other long-term liabilities		5,233
Total liabilities assumed	$	136,538
Total fair value of acquisition consideration	$	310,465

Schedule of identifiable intangible assets

			Weighted Average
	Fair Value		Amortization Period
Trademarks	$	178,823		—
Customer relationships		4,294		8
	$	183,117		—

Schedule of reconciliation of cash paid for the acquisition

	Year Ended January 31,
	2023		2022
	(unaudited, in thousands, except per share amounts)
Net sales	$	3,295,452	$	2,931,583
Net income		(154,908)		219,108
Earnings per share:
Basic		(3.25)		4.52
Diluted		(3.25)		4.42