ACQUISITIONS

During the

second

quarter of fiscal

2015,

the Company acquired Of a Kind, Inc., an e-commerce website that features specially commissioned, limited edition items from emerging fashion and home designers. Since the date of acquisition, the results of Of a Kind’s operations, which were not material, have been included in the Company’s results of operations for the fiscal years ended

February

25,

2017

and

February

27,

2016.

Of a Kind is included in the North American Retail operating segment.

June

14,

2016,

the Company acquired One Kings Lane, Inc., an online authority in home décor and design, offering a unique collection of select home goods, designer and vintage items. Since the date of acquisition, the results of One Kings Lane’s operations, which were not material, have been included in the Company’s results of operations for the fiscal year ended

February

25,

2017.

One Kings Lane is included in the North American Retail operating segment.

November

23,

2016,

the Company acquired PersonalizationMall.com, LLC, an industry-leading online retailer of personalized products, for an aggregate purchase price of approximately

$189.4

million. Since the date of acquisition, the result of PMall’s operations, which were not material, have been included in the results of operations for the fiscal year ended

February

25,

2017

and no proforma disclosure of financial information has been presented. PMall is included in the North American Retail operating segment.

The following table summarizes the preliminary estimated fair value of the assets acquired and liabilities assumed at the date of acquisition for PMall. The Company is in the process of finalizing the valuation of certain assets acquired and liabilities assumed; thus, the amounts below are subject to change until the anniversary of the acquisition.

(in millions)	As of November 23, 2016

Current assets	$	15.1
Property and equipment and other non-current assets		15.1
Goodwill		178.1
Intangible assets		12.0
Total assets acquired		220.3

Accounts payable and other liabilities		(30.9	)

Total net assets acquired	$	189.4

Included within intangible assets above is approximately

$10.0

million for tradenames, which is not subject to amortization. The tradenames and goodwill are expected to be deductible for tax purposes.

January

27,

2017,

the Company acquired certain assets including the brand, website and certain intellectual property assets and assumed certain contractual obligations of Chef Central, a retailer of kitchenware, cookware and homeware items catering to cooking and baking enthusiasts. Since the date of acquisition, the results of Chef Central’s operations, which were not material, have been included in the Company’s results of operations for the fiscal year ended

February

25,

2017.

Chef Central is included in the North American Retail operating segment. (See “Transactions and Balances with Related Parties,” Note

8).

Subsequent to the end of fiscal

2016,

the Company acquired Decorist, Inc., an online interior design platform that provides personalized home design services. The acquisition had no effect on the Company’s fiscal

2016

results since the transaction occurred during fiscal

2017.

The Company believes the benefit of this acquisition will not have a material effect on the overall results or financial condition of the Company for fiscal

2017.