Acquisition of Parlux (Tables)

12 Months Ended

Feb. 02, 2013

Business Combinations [Abstract]

Schedule of Purchase Price, Assets Acquired, and Liabilities Assumed

The following tables summarize the purchase price and the assets acquired and liabilities assumed as of the acquisition date at estimated fair value:

(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

(in thousands)
Cash	$	17,114
Accounts receivable	21,242
Inventories	60,966
Other current assets	10,841
Property and equipment	1,107
Other non-current assets	167
Identified intangible assets	24,676
Goodwill	38,769
Accounts payable	(16,032		)
Deferred tax liabilities	(3,239		)
Other liabilities assumed	(3,986		)
Net assets acquired	$	151,625

Schedule of Estimated Aggregate Amortization Expense in Succeeding Years

Estimated aggregate amortization expense for 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
2013	$	5,645
2014	4,366
2015	3,820
2016	1,354
2017	861
Thereafter	2,298
	$	18,344

Summary of Fair Value Estimates of Acquired Indentifiable Intangible Assets

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

Schedule of Pro Forma Financial Information

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.

	Fiscal Year Ended February 2, 2013			Fiscal Year Ended January 28, 2012
	(in thousands, except per share data)
Net sales	$	554,648		$	580,597
Net loss	(53,501		)	(28,690		)
Net loss per share - basic	$	(2.64	)	$	(1.88	)
Net loss per share - diluted	(2.64		)	(1.88		)