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Intangible Assets | 9 Months Ended
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Feb. 02, 2020
Goodwill And Intangible Assets Disclosure [Abstract] |
Intangible Assets | 7. Intangible Assets A summary of intangible assets follows:
(dollars in thousands) |  | February 2, 2020 |  |  | January 27, 2019 |  |  | April 28, 2019 |
Tradenames |  | $ | 4,804 |  |  | $ | 7,232 |  |  | $ | 7,232 |
Customer relationships, net |  |  | 2,313 |  |  |  | 2,613 |  |  |  | 2,538 |
Non-compete agreement, net |  |  | 621 |  |  |  | 697 |  |  |  | 678 |
|  | $ | 7,738 |  |  | $ | 10,542 |  |  | $ | 10,448 |
Tradenames A summary of change in the carrying amount of our tradenames follows:
|  | Nine months ended |
(dollars in thousands) |  | February 2, 2020 |  |  | January 27, 2019 |
Beginning balance |  | $ | 7,232 |  |  | $ | 683 |
Acquisition of business (note 3) |  |  | — |  |  |  | 6,549 |
Impairment charge |  |  | (2,428 | ) |  |  | — |
Ending balance |  | $ | 4,804 |  |  | $ | 7,232 |
Our tradenames have an indefinite useful life and therefore, are not being amortized. However, in accordance with ASC Topic 350 Intangibles – Goodwill and Other, our tradenames will be assessed annually for impairment or between annual test if we believe indicators of impairment exist. As of February 2, 2020, management determined that impairment indicators existed that pertained to changes in the future outlook of our home accessories segment and its slower than expected business improvement as well as current economic conditions within the e-commerce bedding space. As a result of our interim impairment assessment, we recorded an impairment charge of $2.4 million in Asset Impairments in the Consolidated Statements of Net (Loss) Income for the three-month and nine-month periods ended February 2, 2020. There were no impairment charges for the three-month or nine-month periods ended January 27, 2019. Customer Relationships A summary of change in the carrying amount of our customer relationships follows:
|  | Nine months ended |
(dollars in thousands) |  | February 2, 2020 |  |  | January 27, 2019 |
Beginning balance |  | $ | 2,538 |  |  | $ | 2,839 |
Amortization expense |  |  | (225 | ) |  |  | (226 | )
Ending balance |  | $ | 2,313 |  |  | $ | 2,613 |
Our customer relationships are amortized on a straight-line basis over useful lives ranging from nine to seventeen years. The gross carrying amount of our customer relationships was $3.1 million at February 2, 2020, January 27, 2019, and April 28, 2019, respectively. Accumulated amortization for these customer relationships was $802,000, $502,000 and $577,000 at February 2, 2020, January 27, 2019, and April 28, 2019, respectively. The remaining amortization expense for the next five fiscal years and thereafter follows: FY 2020 - $76,000; FY 2021 - $301,000; FY 2022 - $301,000; FY 2023 - $301,000; FY 2024 - $301,000; and Thereafter - $1,033,000. The weighted average amortization period for our customer relationships is 7.9 years as of February 2, 2020. Non-Compete Agreement A summary of change in the carrying amount of our non-compete agreement follows:
|  | Nine months ended |
(dollars in thousands) |  | February 2, 2020 |  |  | January 27, 2019 |
Beginning balance |  | $ | 678 |  |  | $ | 753 |
Amortization expense |  |  | (57 | ) |  |  | (56 | )
Ending balance |  | $ | 621 |  |  | $ | 697 |
Our non-compete agreement is amortized on a straight-line basis over the fifteen-year life of the agreement. The gross carrying amount of our non-compete agreement was $2.0 million at February 2, 2020, January 27, 2019, and April 28, 2019, respectively. Accumulated amortization for our non-compete agreement was $1.4 million at February 2, 2020, $1.3 million at January 27, 2019, and $1.4 million at April 28, 2019. The remaining amortization expense for the next five years and thereafter follows: FY 2020 - $19,000; FY 2021 - $75,000; FY 2022 - $75,000; FY 2023 - $75,000; FY 2024 - $75,000, and Thereafter - $302,000. The weighted average amortization period for the non-compete agreement is 8.3 years as of February 2, 2020.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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