2. Acquisition (Tables)

9 Months Ended

Oct. 29, 2017

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