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NOTE 8 - INTANGIBLE ASSETS | 12 Months Ended
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Feb. 02, 2014
Disclosure Text Block [Abstract] |
Intangible Assets Disclosure [Text Block] | NOTE 8 – INTANGIBLE ASSETS We recorded certain intangible assets related to the acquisitions of Bradington-Young and Sam Moore and upon purchase of the Homeware.com URL. The Bradington-Young and Sam Moore 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.”
|  |  | February 2, |  |  | February 3, |
| Segment |  | 2014 |  |  | 2013 |
Non-amortizable Intangible Assets |  |  |  |  |  |  |
Trademarks and trade names - Bradington-Young | Upholstery |  | $ | 861 |  |  | $ | 861 |
Trademarks and trade names - Sam Moore | Upholstery |  |  | 396 |  |  |  | 396 |
URL- Homeware.com | Casegoods |  |  | 125 |  |  |  | - |
Total Non-amortizable Intangible Assets |  |  |  | 1,382 |  |  |  | 1,257 |
We purchased the Homeware.com URL during the fiscal 2014 third quarter. Trademarks and trade names 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 trademarks and trade names using the relief from royalty method, which values the trademark/trade name by estimating the savings achieved by ownership of the trademark/trade name when compared to licensing the mark/name from an independent owner. The inputs used in the trademark/trade name analyses are considered Level 3 fair value measurements. Our fiscal 2012 trademark/trade name analysis led us to conclude certain of our trademarks/trade names were impaired. Consequently, we recorded impairment charges on these intangible assets as follows:
|  | Fifty-Two Weeks Ended |  |  | Fifty-Three Weeks Ended |  |  | Fifty-Two Weeks Ended |
|  | February 2, |  |  | February 3, |  |  | January 29, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Trade mark/trade name impairment charges: |  |  |  |  |  |  |  |  |
Bradington-Young |  | $ | - |  |  | $ | - |  |  | $ | 1,815 |
Total trade mark/trade name impairment |  | $ | - |  |  | $ | - |  |  | $ | 1,815 |
These impairment charges are included in “intangible asset impairment charges” in our consolidated statements of income.

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275 Reference 2: 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=26713463&loc=d3e16373-109275 Reference 3: 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=26713463&loc=d3e16265-109275 + Details
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