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FAIR VALUE MEASUREMENTS
 3 Months Ended
Apr. 04, 2026
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
The Company defines fair value as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date.
ASC 820, Fair Value Measurement and Disclosures ("ASC 820"), establishes a fair value hierarchy, which prioritizes the inputs used in measuring fair value into three broad levels as follows:
•Level 1 — Quoted prices in active markets for identical assets or liabilities.
•Level 2 — Inputs, other than quoted prices in active markets, that are observable either directly or indirectly.
•Level 3 — Unobservable inputs based on the Company’s assumptions.
ASC 820 requires the use of observable market data if such data is available without undue cost and effort.
The following table presents the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of April 4, 2026 (in thousands):
 Fair Value at April 4, 2026
 Level 1Level 2Level 3Total
Assets:    
Forward contracts$— $637 $— $637 
Total$— $637 $— $637 
Liabilities:    
Forward contracts$— $7 $— $7 
Total$— $7 $— $7 
The Company did not have any assets or liabilities measured at fair value on a recurring basis as of January 3, 2026.
The fair values of the Company’s forward contracts are based on published quotations of spot currency rates, forward points and yield-curves, which are converted into implied forward currency rates. See "Note 10—Derivatives and Risk Management", for additional disclosures about the forward contracts.
As of April 4, 2026, the Company's First-Out Notes and Second-Out Notes (as defined in Note 15— Debt Activity), excluding unamortized debt issuance costs and original issue discount, were recorded at cost and had a carrying value of $185.1 million and their fair value approximated their carrying value. The Company's Revolving Credit Facility (as defined in Note 15—Debt Activity) was recorded at cost and had a carrying value of $33.0 million and its fair value approximated its carrying value. The fair values of the Company's First-Out Notes, Second-Out Notes and Revolving Credit Facility were based on Level 3 inputs.
During the First Quarter, operating lease right-of-use ("ROU") assets with a carrying amount of $0.1 million were deemed impaired, resulting in impairment charges of $0.1 million. During the Prior Year Quarter, ROU assets with a carrying amount of $0.2 million were written down to a fair value of $0.1 million, resulting in impairment charges of $0.1 million.
The fair values of operating lease ROU assets and fixed assets related to retail stores were determined using Level 3 inputs, including forecasted cash flows and discount rates. Of the $0.1 million impairment expense in the First Quarter, $0.1 million was recorded in other long-lived asset impairments in the Americas segment. Of the $0.1 million impairment expense in the Prior Year Quarter, $0.1 million was recorded in other long-lived asset impairments in the Americas segment.