| Goodwill and Intangible Assets |
Note 8 Goodwill and Intangible Assets Goodwill and intangible assets were as follows: | | | | | | | | | | ($ thousands) | | May 3, 2025 | | May 4, 2024 | | February 1, 2025 | Intangible Assets | | | | | | | | | | Famous Footwear | | $ | 2,800 | | $ | 2,800 | | $ | 2,800 | Brand Portfolio (1) | | | 342,083 | | | 342,083 | | | 342,083 | Total intangible assets | | | 344,883 | | | 344,883 | | | 344,883 | Accumulated amortization | | | (160,324) | | | (149,288) | | | (157,565) | Total intangible assets, net | | | 184,559 | | | 195,595 | | | 187,318 | Goodwill | | | | | | | | | | Brand Portfolio (2) | | | 4,956 | | | 4,956 | | | 4,956 | Total goodwill | | | 4,956 | | | 4,956 | | | 4,956 | Goodwill and intangible assets, net | | $ | 189,515 | | $ | 200,551 | | $ | 192,274 |
| (1) | The carrying amount of intangible assets as of May 3, 2025, May 4, 2024 and February 1, 2025 is presented net of accumulated impairment charges of $106.2 million. |
| (2) | The carrying amount of goodwill as of May 3, 2025, May 4, 2024 and February 1, 2025 is presented net of accumulated impairment charges of $415.7 million. |
The Company’s intangible assets as of May 3, 2025, May 4, 2024 and February 1, 2025 were as follows: | | | | | | | | | | | | | | | ($ thousands) | | May 3, 2025 | | | Estimated Useful Lives | | | | | Accumulated | | Accumulated | | | | | | (In Years) | | Cost Basis | | Amortization | | Impairment | | Net Carrying Value | Trade names | | 2 - 40 | | $ | 299,488 | | $ | 142,610 | | $ | 10,200 | | $ | 146,678 | Trade names | | Indefinite | | | 107,400 | | | — | | | 92,000 | | | 15,400 | Customer relationships | | 15 - 16 | | | 44,200 | | | 17,714 | | | 4,005 | | | 22,481 | | | | | $ | 451,088 | | $ | 160,324 | | $ | 106,205 | | $ | 184,559 | | | | | | | | | | | | | | | | | | May 4, 2024 | | | Estimated Useful Lives | | | | | Accumulated | | Accumulated | | | | | | (In Years) | | Cost Basis | | Amortization | | Impairment | | Net Carrying Value | Trade names | | 2 - 40 | | $ | 299,488 | | $ | 133,863 | | $ | 10,200 | | $ | 155,425 | Trade names | | Indefinite | | | 107,400 | | | — | | | 92,000 | | | 15,400 | Customer relationships | | 15 - 16 | | | 44,200 | | | 15,425 | | | 4,005 | | | 24,770 | | | | | $ | 451,088 | | $ | 149,288 | | $ | 106,205 | | $ | 195,595 | | | | | | | | | | | | | | | | | | February 1, 2025 | | | Estimated Useful Lives | | | | | Accumulated | | Accumulated | | | | | | (In Years) | | Cost Basis | | Amortization | | Impairment | | Net Carrying Value | Trade names | | 2 - 40 | | $ | 299,488 | | $ | 140,424 | | $ | 10,200 | | $ | 148,864 | Trade names | | Indefinite | | | 107,400 | | | — | | | 92,000 | | | 15,400 | Customer relationships | | 15 - 16 | | | 44,200 | | | 17,141 | | | 4,005 | | | 23,054 | | | | | $ | 451,088 | | $ | 157,565 | | $ | 106,205 | | $ | 187,318 |
Amortization expense related to intangible assets was $2.8 million for the thirteen weeks ended May 3, 2025 and May 4, 2024. The Company estimates that amortization expense related to intangible assets will be approximately $11.0 million in 2025 and 2026, $10.9 million in 2027, and $10.7 million in 2028 and 2029. Goodwill is tested for impairment as of the first day of the fourth quarter of each fiscal year, or more frequently if events or circumstances indicate it might be impaired, using either the qualitative assessment or a quantitative fair value-based test. The Company recorded no goodwill impairment charges during the thirteen weeks ended May 3, 2025 or May 4, 2024. Indefinite-lived intangible assets are tested for impairment as of the first day of the fourth quarter of each fiscal year unless events or circumstances indicate an interim test is required. The Company recorded no impairment charges for indefinite-lived intangible assets during the thirteen weeks ended May 3, 2025 or May 4, 2024.
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