v3.21.1
Discontinued Operations
3 Months Ended
May 01, 2021
Discontinued Operations And Disposal Groups [Abstract]  
Discontinued Operations

NOTE 3. Discontinued Operations

During the fourth quarter of 2018, the Company completed the closure of its verykool business segment.  Also, as discussed in Note 17, the Company sold OneClick Argentino, its business unit in Argentina, and Verablue Caribbean Group, its business unit in the Dominican Republic, which resulted in a loss on sale of $136,000 in the 13 weeks ended May 2, 2020.  Consequently, these business units, plus OneClick International, the wholly owned parent of the two business units, are also reported as discontinued operations in our consolidated financial statements for all periods presented.  There were no results of discontinued operations for the 13 weeks ended May 1, 2021.

The results of discontinued operations for the 13 weeks ended May 2, 2020 are as follows (in thousands):

 

 

Verykool

 

 

Verablue Caribbean

 

 

TOTAL

 

Net sales

$

 

 

$

407

 

 

$

407

 

Cost of sales

 

 

 

 

319

 

 

 

319

 

Gross profit

 

 

 

 

88

 

 

 

88

 

Selling, general and administrative expenses

 

6

 

 

 

192

 

 

 

198

 

Operating loss

 

(6

)

 

 

(104

)

 

 

(110

)

Other income (expense), net

 

3

 

 

 

(129

)

 

 

(126

)

Loss from discontinued operations before income taxes

 

(3

)

 

 

(233

)

 

 

(236

)

Provision for income taxes

 

 

 

 

 

 

 

 

Net loss from discontinued operations

$

(3

)

 

$

(233

)

 

$

(236

)