Intangible Assets

3 Months Ended

May 04, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure [Text Block]

8.

Intangible Assets

Our intangible assets with indefinite lives consist of: goodwill related to the Shenandoah, Sunset West and BOBO Intriguing Objects acquisitions; and trademarks and tradenames related to the acquisitions of Bradington-Young, Home Meridian and BOBO Intriguing Objects. Our intangible assets with definite lives are recorded in our Home Meridian and Domestic Upholstery segments. Details of our intangible assets are as follows:

		May 4, 2025								February 2, 2025
		Gross carrying amount				Impairment / Accumulated Amortization				Gross carrying amount				Impairment / Accumulated Amortization
Intangible assets with indefinite lives:
Goodwill
Domestic Upholstery - Shenandoah *			490				-				490				-
Domestic Upholstery - Sunset West			14,462				-				14,462				-
All Other - BOBO Intriguing Objects			84				-				84				-
Goodwill			15,036				-				15,036				-

Trademarks and Trade names *			5,180				-				5,180				-

Intangible assets with definite lives:
Customer Relationships			38,001				(23,189	)			38,001				(22,349	)
Trademarks and Trade names			2,334				(1,134	)			2,334				(1,062	)

Intangible assets, net			45,515				(24,323	)			45,515				(23,411	)

*:

The amounts are net of impairment charges of $16.4 million related to Shenandoah goodwill and $7.6 million related to certain Home Meridian segment trade names, of which $4.8 million were recorded in fiscal 2021 and $2.8 million were recorded in fiscal 2025.

Amortization expenses for intangible assets with definite lives were $913,000 and $924,000 for the first quarters of fiscal 2026 and 2025, respectively. For the remainder of fiscal 2026, amortization expense is expected to be approximately $2.6 million