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2. Acquisition (Tables) | 9 Months Ended
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Oct. 29, 2017
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following table summarizes the estimates of the fair values of the identifiable assets acquired and liabilities assumed in the Acquisition as of September 29, 2017. Inventory, prepaids and accounts payable values have been finalized. We are currently reviewing the net working capital adjustment as specified in the Asset Purchase Agreement, consequently, the accounts receivable, and accrued expenses values are subject to change. The preliminary estimates of fair value of property and equipment, intangible assets and goodwill are preliminary values, and subject to change as our appraisals and estimates are finalized during the fiscal 2018 fourth quarter.
Fair value estimates of assets acquired and liabilities assumed |  |  |
Purchase price consideration |  |  |
Cash paid for assets acquired, including working capital adjustment |  | $ | 32,650 |
Value of shares issued for assets acquired |  |  | 8,000 |
Fair value adjustment to shares issued for assets acquired* |  |  | 396 |
Total purchase price |  | $ | 41,046 |
Accounts receivable |  | $ | 3,576 |
Inventory |  |  | 2,380 |
Prepaid expenses and other current assets |  |  | 52 |
Property and equipment |  |  | 5,418 |
Intangible assets |  |  | 13,193 |
Goodwill |  |  | 17,645 |
Accounts payable |  |  | (699 | )
Accrued expenses |  |  | (519 | )
Total purchase price |  | $ | 41,046 |
*As provided by the Asset Purchase Agreement, we calculated the number of common shares issued to SFI by dividing $8 million by the mean closing price of our common stock for the ten trading days immediately preceding the business day immediately preceding the closing date ($45.45). However, U.S. Generally Accepted Accounting Standards provide that we value stock consideration exchanged in the Acquisition at fair value. Consequently, we adjusted the purchase price by $396,000, which represents the difference in the mean closing price of our common shares described in this paragraph and the price on September 29, 2017, multiplied by the number of common shares issued (176,018.) No additional consideration was transferred to SFI as a result of this adjustment.
Business Acquisition, Pro Forma Information [Table Text Block] |
|  | 13 Weeks Ended |  |  | 39 Weeks Ended |
|  | October 30, 2016 |  |  | October 30, 2016 |
|  | (Pro forma) |  |  | (Pro forma) |
Net Sales |  | $ | 156,570 |  |  | $ | 434,921 |
Net Income |  | $ | 7,268 |  |  | $ | 16,257 |
Basic EPS |  | $ | 0.63 |  |  | $ | 1.41 |
Diluted EPS |  | $ | 0.62 |  |  | $ | 1.39 |
|  | Pro Forma - Unaudited |
|  | 13 Weeks Ended |  |  | 39 Weeks Ended |
|  | October 29, 2017 |  |  | October 29, 2017 |
|  | (Pro forma) |  |  | (Pro forma) |
Net Sales |  | $ | 165,777 |  |  | $ | 474,610 |
Net Income |  | $ | 9,218 |  |  | $ | 24,223 |
Basic EPS |  | $ | 0.79 |  |  | $ | 2.09 |
Diluted EPS |  | $ | 0.78 |  |  | $ | 2.06 |

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- 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=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
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