XML 39 R28.htm IDEA: XBRL DOCUMENT v3.25.3
Acquisitions and Joint Ventures (Tables)
 9 Months Ended
Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Business Combination, Recognized Asset Acquired and Liability Assumed
The acquisition was accounted for in accordance with ASC 805. As such, we have applied acquisition accounting, which requires, among other things, that the assets acquired and liabilities assumed be recognized at their estimated acquisition-date fair values. The following table summarizes the Company’s preliminary allocation of the purchase price to the estimated fair values of the assets acquired and liabilities assumed as of the Acquisition Date.
Balance Sheet ClassificationFair Value
Cash and cash equivalents$18,899 
Accounts receivable29,904 
Inventories182,895 
Operating lease right-of-use asset65,714 
Prepaid expenses and other current assets14,972 
Income tax receivable and prepaid income taxes3,350 
Property and equipment, net39,320 
Intangibles, net165,568 
Accounts payable(51,249)
Accrued expenses(35,811)
Income taxes payable(1,770)
Operating leases – current portion(8,603)
Operating leases – long-term portion(68,251)
Deferred tax liabilities(35,757)
Total fair value excluding goodwill319,181 
Goodwill84,167 
Net assets acquired$403,348 
The Company is in the process of completing its purchase price allocation. Accordingly, the purchase price allocation, as shown in the table above, is considered preliminary. The Company expects to obtain the information necessary to finalize the purchase price allocation during the measurement period, not to exceed one year from the Acquisition Date as permitted under
ASC 805. Any changes to the preliminary estimates of the fair value during the measurement period will be recorded as adjustments to those assets and liabilities with a corresponding adjustment to goodwill in the period they occur.
Business Combination, Intangible Asset, Acquired, Finite-Lived
The components of intangible assets acquired in connection with the Kurt Geiger acquisition were as follows:
Intangible AssetEstimated
Lives		Amortization
Method		Estimated Fair
Value
TrademarkIndefiniteN/A$114,987 
Customer relationships
15-20 years
Straight-line50,581 
Total intangible assets$165,568 
Business Combination, Intangible Asset, Acquired, Indefinite-Lived
The components of intangible assets acquired in connection with the Kurt Geiger acquisition were as follows:
Intangible AssetEstimated
Lives		Amortization
Method		Estimated Fair
Value
TrademarkIndefiniteN/A$114,987 
Customer relationships
15-20 years
Straight-line50,581 
Total intangible assets$165,568 
Business Combination, Pro Forma Information The pro forma financial information, as presented below, is for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place on January 1, 2024, nor are they indicative of future operating results.
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Total revenue$668,109 $750,683 $1,931,959 $2,065,069 
Net income42,469 53,101 89,408 67,351