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3. Acquisition (Tables)

9 Months Ended

Oct. 30, 2016

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

The following table summarizes the preliminary estimates of the fair values of the identifiable assets acquired and liabilities assumed in the Acquisition as of October 30, 2016. The preliminary estimates of fair value of identifiable assets acquired and liabilities assumed are subject to revisions, which may result in adjustments to the preliminary values presented below, when management’s estimates are finalized. We are currently in the process of evaluating third party appraisal reports which we expect to be completed by the end of the current fiscal year. During the fiscal 2017 third quarter, we reclassified $3.1 million of accounts receivable-related reserve items from accrued expenses to accounts receivable. Additionally, we reduced property and equipment by $509,000 and prepaid expenses and other current assets by $150,000 for items that had been capitalized inconsistent with our capitalization policy. Consequently, goodwill was increased by $659,000.

Fair value estimates of assets acquired and liabilities assumed
Purchase price consideration
Cash paid for assets acquired, including working capital adjustment		$	86,062
Value of shares issued for assets acquired			15,000
Value of shares issued for excess net working capital			5,267
Total purchase price		$	106,329
Accounts receivable		$	43,171
Inventory			37,606
Prepaid expenses and other current assets			1,626
Property and equipment			5,292
Intangible assets			27,800
Goodwill			24,057
Accounts payable			(22,742	)
Accrued expenses			(1,761	)
Pension plan liabilities and deferred compensation balances			(8,720	)
Total purchase price		$	106,329

Business Acquisition, Pro Forma Information [Table Text Block]

The following unaudited consolidated pro forma summary has been prepared by adjusting our historical data to give effect to the Acquisition as if it had occurred on February 1, 2015:

		13 Weeks Ended				39 Weeks Ended
(in millions except per share data)		November 1, 2015				November 1, 2015
		(Pro forma)				(Pro forma)
Net Sales		$	153,906			$	419,285
Net Income			5,351				14,556
Basic EPS			0.50				1.35
Diluted EPS			0.49				1.35

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)-(3)
-URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1392-128463

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- References

No definition available.

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X

- Definition

Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1486-128463

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1392-128463

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