Goodwill and Intangible Assets

12 Months Ended

Feb. 01, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill activity is summarized by business segment as follows (in thousands):



	North American Retail			Europe			North American Wholesale			Total
Goodwill balance at January 28, 2012	$	907		$	17,150		$	11,013		$	29,070
Adjustments:
Acquisition	—			9,360			—			9,360
Translation Adjustments	4			852			1			857
Goodwill balance at February 2, 2013	911			27,362			11,014			39,287
Adjustments:
Translation Adjustments	(85		)	(195		)	(15		)	(295		)
Goodwill balance at February 1, 2014	$	826		$	27,167		$	10,999		$	38,992

The Company has no accumulated impairment related to goodwill.

On May 3, 2012, the Company acquired 26 retail stores and certain related assets and liabilities from one of its European licensees for $16.0 million in cash. This transaction resulted in goodwill and other intangible assets of $9.4 million and $5.2 million, respectively. The other intangible assets consisted of lease and license acquisition costs of $4.5 million and $0.7 million, respectively. The Company amortizes these costs on a straight-line basis over the expected useful life which was estimated to be approximately 7.6 years on a combined basis as of the acquisition date, with the lease and license acquisition costs separately amortized over original weighted-average periods of approximately 8.1 years and 4.7 years, respectively. The net assets were recorded at their estimated fair values and operating results were included in the Company’s financial statements from the date of acquisition.

Other intangible assets as of February 1, 2014 consisted primarily of lease and license acquisition costs related to European acquisitions. Gross intangible assets were $37.7 million and $38.1 million at February 1, 2014 and February 2, 2013, respectively. The accumulated amortization of intangible assets with finite useful lives was $24.6 million and $22.1 million at February 1, 2014 and February 2, 2013, respectively. For these assets, amortization expense over the next five years is expected to be approximately $3.3 million in fiscal 2015, $2.5 million in fiscal 2016, $2.0 million in fiscal 2017, $1.3 million in fiscal 2018 and $1.0 million in fiscal 2019.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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