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NOTE 7 - INTANGIBLE ASSETS

12 Months Ended

Jan. 29, 2012

Intangible Assets Disclosure [Text Block]

NOTE 7 – INTANGIBLE ASSETS

			January 29,				January 30,
	Segment		2012				2011
Non-amortizable Intangible Assets
Trademarks and trade names - Bradington-Young	Upholstery		$	861			$	2,676
Trademarks and trade names - Sam Moore	Upholstery			396				396
Total trademarks and trade names				1,257				3,072

We recorded certain intangible assets related to the acquisitions of Bradington-Young and Sam Moore.  The trademarks and trade names have indefinite useful lives and consequently are not subject to amortization for financial reporting purposes but are tested for impairment annually or more frequently if events or circumstances indicate that the asset might be impaired.  See “Note 1 – Summary of Significant Accounting Policies: Intangible Assets.”

Trade names and trademarks are related to the acquisitions of Bradington-Young and Sam Moore. In conjunction with our evaluation of the cash flows generated by the reporting units, we evaluated the carrying value of trade names and trademarks using the relief from royalty method, which values the trade name/trademark by estimating the savings achieved by ownership of the trade name/trademark when compared to licensing the name/mark from an independent owner.  The inputs used in the tradename analysis are considered Level 3 fair value measurements.  Our trade name/trademark analyses for the last three fiscal years lead us to conclude certain of our trade names/trademarks were impaired. Consequently, we recorded impairment charges on these intangible assets as follows:

		Fifty-Two Weeks Ended
		January 29,				January 30,				January 31,
		2012				2011				2010
Trade name impairment charges:
Opus Designs by Hooker Furniture		$	-			$	396			$	661
Bradington-Young			1,815				-				613
Total trade name impairment		$	1,815			$	396			$	1,274

These impairment charges are included in “intangible asset impairment charges” in our line of our consolidated statements of operations.

X

- Definition

The entire disclosure for all or part of the information related to intangible assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 350

-SubTopic 30

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6905858&loc=d3e16373-109275



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 142

-Paragraph 44, 45, 46

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 350

-SubTopic 30

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6905858&loc=d3e16323-109275



Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 350

-SubTopic 30

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6905858&loc=d3e16265-109275

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