v3.21.1

Discontinued Operations | 12 Months Ended
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Jan. 30, 2021
Discontinued Operations And Disposal Groups [Abstract] |
Discontinued Operations | NOTE 4—DISCONTINUED OPERATIONS During the fourth quarter of 2018, the Company completed the closure of the verykool business segment that had been an old legacy business. Also, as discussed in Note 15, in early 2020, the Company sold OneClick Argentino, its business unit in Argentina, and Verablue Caribbean Group, its business unit in the Dominican Republic, which resulted in losses on sale of $13,000 and $136,000 in the transition period from January 1, 2020 to February 1, 2020 and in the fiscal year ended January 30, 2021, respectively. Consequently, these business units, plus OneClick International, the wholly owned parent of the two business units, are reported as discontinued operations in our consolidated financial statements for all periods presented. The results of discontinued operations for the year ended December 31, 2019 are as follows (in thousands):
| Verykool |  |  | OneClick International |  |  | OneClick Argentino |  |  | Verablue Caribbean |  |  | TOTAL |
Net sales | $ | 47 |  |  | $ | 1 |  |  | $ | 8,029 |  |  | $ | 3,849 |  |  | $ | 11,926 |
Cost of sales |  | 118 |  |  |  | 13 |  |  |  | 5,374 |  |  |  | 2,783 |  |  |  | 8,288 |
Gross profit (loss) |  | (71 | ) |  |  | (12 | ) |  |  | 2,655 |  |  |  | 1,066 |  |  |  | 3,638 |
Selling, general and administrative expenses |  | (16 | ) |  |  | 501 |  |  |  | 2,703 |  |  |  | 1,057 |  |  |  | 4,245 |
Goodwill and intangible impairments |  | — |  |  |  | 630 |  |  |  | — |  |  |  | — |  |  |  | 630 |
Operating income (loss) |  | (55 | ) |  |  | (1,143 | ) |  |  | (48 | ) |  |  | 9 |  |  |  | (1,237 | )
Loss on assets held for sale |  | — |  |  |  | — |  |  |  | (1,932 | ) |  |  | (698 | ) |  |  | (2,630 | )
Other income (expense), net |  | 25 |  |  |  | (14 | ) |  |  | (678 | ) |  |  | (8 | ) |  |  | (675 | )
Loss from discontinued operations before income taxes |  | (30 | ) |  |  | (1,157 | ) |  |  | (2,658 | ) |  |  | (697 | ) |  |  | (4,542 | )
Provision (benefit) for income taxes |  | (2 | ) |  |  | — |  |  |  | — |  |  |  | 78 |  |  |  | 76 |
Net loss from discontinued operations | $ | (32 | ) |  | $ | (1,157 | ) |  | $ | (2,658 | ) |  | $ | (619 | ) |  | $ | (4,466 | )
The results of discontinued operations for the transition period from January 1, 2020 to February 1, 2020 are as follows (in thousands):
| Verykool |  |  | OneClick International |  |  | OneClick Argentino |  |  | Verablue Caribbean |  |  | TOTAL |
Net sales | $ | — |  |  | $ | — |  |  | $ | 821 |  |  | $ | 334 |  |  | $ | 1,155 |
Cost of sales |  | 8 |  |  |  | — |  |  |  | 544 |  |  |  | 223 |  |  |  | 775 |
Gross profit (loss) |  | (8 | ) |  |  | — |  |  |  | 277 |  |  |  | 111 |  |  |  | 380 |
Selling, general and administrative expenses |  | 2 |  |  |  | 1 |  |  |  | 203 |  |  |  | 81 |  |  |  | 287 |
Operating income (loss) |  | (10 | ) |  |  | (1 | ) |  |  | 74 |  |  |  | 30 |  |  |  | 93 |
Other income (expense), net |  | — |  |  |  | — |  |  |  | (21 | ) |  |  | (6 | ) |  |  | (27 | )
Income (loss) from discontinued operations before income taxes |  | (10 | ) |  |  | (1 | ) |  |  | 53 |  |  |  | 24 |  |  |  | 66 |
Provision for income taxes |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net income (loss) from discontinued operations | $ | (10 | ) |  | $ | (1 | ) |  | $ | 53 |  |  | $ | 24 |  |  | $ | 66 |
The results of discontinued operations for the year ended January 30, 2021 are as follows (in thousands):
| Verykool |  |  | OneClick International |  |  | Verablue Caribbean |  |  | TOTAL |
Net sales | $ | — |  |  | $ | — |  |  | $ | 408 |  |  | $ | 408 |
Cost of sales |  | — |  |  |  | — |  |  |  | 319 |  |  |  | 319 |
Gross profit |  | — |  |  |  | — |  |  |  | 89 |  |  |  | 89 |
Selling, general and administrative expenses |  | 19 |  |  |  | (41 | ) |  |  | 165 |  |  |  | 143 |
Operating income (loss) |  | (19 | ) |  |  | 41 |  |  |  | (76 | ) |  |  | (54 | )
Other income (expense), net |  | 59 |  |  |  | — |  |  |  | (129 | ) |  |  | (70 | )
Income (loss) from discontinued operations before income taxes |  | 40 |  |  |  | 41 |  |  |  | (205 | ) |  |  | (124 | )
Provision for income taxes |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net income (loss) from discontinued operations | $ | 40 |  |  | $ | 41 |  |  | $ | (205 | ) |  | $ | (124 | )

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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