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INTANGIBLE ASSETS | 6 Months Ended
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Aug. 03, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS | INTANGIBLE ASSETS On April 4, 2019, the Company acquired certain intellectual property and related assets of Gymboree Group, Inc. and related entities, which included the worldwide rights to the names “Gymboree” and “Crazy 8” and other intellectual property, including trademarks, domain names, copyrights, and customer databases. These intangible assets, inclusive of acquisition costs, are recorded in the long-term assets section of the Consolidated Balance Sheets. The Company recorded an impairment charge on the Gymboree tradename of $29.0 million in Fiscal 2023, which reduced the carrying value to its fair value of $41.0 million. The Company performed a quantitative impairment assessment of the Gymboree tradename as of June 30, 2024, and recorded additional asset impairment charges of $28.0 million in the Second Quarter 2024, which reduced the carrying value to its fair value of $13.0 million as of August 3, 2024. The Company’s intangible assets were as follows:
|  |  |  | August 3, 2024
|  | Useful Life |  | Gross Amount |  | Accumulated Amortization |  | Net Amount
|  |  |  | (in thousands)
Gymboree tradename |  | Indefinite |  | $ | 13,000 |  |  | $ | — |  |  | $ | 13,000 |
Total intangible assets |  |  |  | $ | 13,000 |  |  | $ | — |  |  | $ | 13,000 |
|  |  |  | February 3, 2024
|  | Useful Life |  | Gross Amount |  | Accumulated Amortization |  | Net Amount
|  |  |  | (in thousands)
Gymboree tradename |  | Indefinite |  | $ | 41,000 |  |  | $ | — |  |  | $ | 41,000 |
Crazy 8 tradename |  | 5 years |  | 4,000 |  |  | (3,877) |  |  | 123 |
Total intangible assets |  |  |  | $ | 45,000 |  |  | $ | (3,877) |  |  | $ | 41,123 |
|  |  |  | July 29, 2023
|  | Useful Life |  | Gross Amount |  | Accumulated Amortization |  | Net Amount
|  |  |  | (in thousands)
Gymboree tradename |  | Indefinite |  | $ | 69,953 |  |  | $ | — |  |  | $ | 69,953 |
Crazy 8 tradename |  | 5 years |  | 4,000 |  |  | (3,462) |  |  | 538 |
Total intangible assets |  |  |  | $ | 73,953 |  |  | $ | (3,462) |  |  | $ | 70,491 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-4 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 985 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481283/985-20-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 985 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/985-20/tableOfContent + Details
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