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INTANGIBLE ASSETS
 6 Months Ended
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 LifeGross AmountAccumulated AmortizationNet Amount
(in thousands)
Gymboree tradename
Indefinite$13,000 $— $13,000 
Total intangible assets$13,000 $— $13,000 
February 3, 2024
Useful LifeGross AmountAccumulated AmortizationNet Amount
(in thousands)
Gymboree tradename
Indefinite$41,000 $— $41,000 
Crazy 8 tradename
5 years4,000 (3,877)123 
Total intangible assets$45,000 $(3,877)$41,123 
July 29, 2023
Useful LifeGross AmountAccumulated AmortizationNet Amount
(in thousands)
Gymboree tradename
Indefinite$69,953 $— $69,953 
Crazy 8 tradename
5 years4,000 (3,462)538 
Total intangible assets$73,953 $(3,462)$70,491