Goodwill and Intangible Assets

12 Months Ended

Jan. 29, 2022

Goodwill And Intangible Assets Disclosure [Abstract]

NOTE 5—GOODWILL AND INTANGIBLE ASSETS

The Company’s goodwill and definite-lived intangible assets arose primarily from the acquisition of Simply Mac on September 25, 2019. The intangible assets are comprised of the Simply Mac tradename, that is being amortized over 15 years, and the simplyinc.com domain name, that is being amortized over 5 years. The carrying value of the intangible assets consisted of the following as of the dates presented (in thousands):

	January 29, 2022			January 30, 2021
Simply Mac Tradename	$	2,092		$	2,092
SimplyInc Domain Name		10			10
SimplyDeals Domain Name		8			—
Subtotal		2,110			2,102
Less accumulated amortization		(331	)		(189	)
Total	$	1,779		$	1,913

Amortization expense of intangible assets for Fiscal 2022 and Fiscal 2021 was $142,000 and $141,000, respectively.

The carrying amount of goodwill at January 29, 2022 and January 30, 2021 amounted to $699,000.

Due to the various impacts of COVID-19 to the Company’s business during the Fiscal 2021, including the temporary closure and limited operating hours of the Company’s stores beginning in late March 2020 and the continued losses incurred during Fiscal 2022, the Company determined triggering events had occurred for certain of the Company’s long-lived asset groups that required impairment assessments during the periods. This analysis did not result in impairment charges related to long-lived assets and operating lease right of use assets.