Intangible Assets

12 Months Ended

Jan. 28, 2012

Intangible Assets [Abstract]

Intangible Assets Disclosure [Text Block]

Intangible Assets

Intangible assets in the accompanying consolidated balance sheets consisted of the following:

	Weighted	January 28, 2012					January 29, 2011
	Average Life (Years)	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Definite-lived intangible assets:
NBCU trademark license renewal	1.0	$	4,166,000	$	(2,951,000	)	$	—	$	—
NBCU trademark license agreement	10.5	$	34,437,000	$	(34,437,000	)	$	34,437,000	$	(33,509,000	)
Indefinite-lived intangible assets:
FCC broadcast license		$	23,111,000				$	23,111,000

On May 16, 2011 the Company issued 689,655 shares of the Company's common stock as consideration for a one-year license agreement renewal with NBCU for the use of the ShopNBC brand name in connection with its television shopping network and its e-commerce websites. The renewed license agreement expires in May 2012 and allows for a one-year extension to May 2013 upon the mutual agreement of both parties. Shares issued were valued at $6.04 per share, representing the fair market value of the Company's stock on the date of issuance.

Amortization expense in fiscal 2011, fiscal 2010 and fiscal 2009 was $3,879,000, $3,226,000 and $3,383,000, respectively. Estimated amortization expense for fiscal 2012 is $1,215,000.

The Company annually reviews its FCC broadcast license for impairment in the fourth quarter, or more frequently if an impairment indicator is present. The Company estimates the fair value of its FCC broadcast license by using an income-based discounted cash flow model with the assistance of an independent outside fair value consultant. The discounted cash flow model includes certain assumptions including revenues, operating profit and a discount rate. While we believe that our estimates and assumptions regarding the valuation of the license are reasonable, different assumptions or future events could materially affect its valuation. In addition, due to the illiquid nature of this asset, our valuation for this license could be materially different if we were to decide to sell it in the short term which, upon revaluation, could result in a future impairment of this asset.

In fiscal 2011, fiscal 2010 and fiscal 2009, no impairment was indicated as a result of the annual fair value assessment