Acquisition of Parlux (Tables)

9 Months Ended

Oct. 27, 2012

NOTE 2 - ACQUISITION OF PARLUX [Abstract]

Schedule of Computation of Purchase Price [Table Text Block]

(in thousands except price per share)
Proceeds from Senior Credit Facility		$	32,062
Proceeds from notes payable to affiliates		30,000
Total cash consideration		62,062
Total shares of Perfumania common stock issued (1)	6,314
Perfumania price per share, April 18, 2012	$9.38	59,225
Fair value of Perfumania stock options and warrants issued		30,338
Total purchase price		$	151,625

(1) Includes 300 shares issued pursuant to various licensing agreements

Schedule of Purchase Price Allocation [Table Text Block]

(in thousands)
Cash	$	17,114
Accounts receivable	21,242
Inventories	62,934
Other current assets	9,793
Property and equipment	1,107
Other non-current assets	178
Identified intangible assets	24,676
Goodwill	49,642
Accounts payable	(16,032		)
Deferred tax liabilities	(15,043		)
Other liabilities assumed	(3,986		)
Net assets acquired	$	151,625

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

Estimated aggregate amortization expense for the remainder of fiscal 2012 and the five succeeding years and thereafter for identified intangible assets created as a result of the acquisition is as follows (in thousands):

Fiscal Year	Amortization Expense
Remainder of 2012	$	1,888
2013	6,664
2014	4,562
2015	3,475
2016	1,010
2017	517
Thereafter	2,155
	$	20,271

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]

The following table is a summary of the fair value estimates of the acquired identifiable intangible assets and weighted-average useful lives as of the acquisition date.

	Estimated fair value of asset (in thousands)		Weighted-average useful life (in years)
Customer relationships	$	5,171	10.0
License agreements	19,505		3.2
Total	$	24,676	4.0

Business Acquisition, Pro Forma Information [Table Text Block]

Accordingly, the unaudited pro forma financial information below is not necessarily indicative of either future results of operations or results that might have been achieved had the acquisition been consummated as of January 30, 2011.

	Thirteen Weeks Ended October 27, 2012			Thirteen Weeks Ended October 29, 2011			Thirty-nine Weeks Ended  October 27, 2012			Thirty-nine Weeks Ended  October 29, 2011
	(in thousands, except per share data)
Net sales	$	139,501		$	149,341		$	373,248		$	394,040
Net loss	(5,391		)	(5,098		)	(38,922		)	(34,766		)
Net loss per share - basic	$	(0.35	)	$	(0.33	)	$	(2.90	)	$	(2.28	)
Net loss per share - diluted	(0.35		)	(0.33		)	(2.90		)	(2.28		)