Goodwill and Intangible Assets

9 Months Ended

Nov. 01, 2025

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Note 9    Goodwill and Intangible Assets

Goodwill and intangible assets were as follows:

($ thousands)	November 1, 2025		November 2, 2024		February 1, 2025
Intangible Assets
Famous Footwear	$	2,800	$	2,800	$	2,800
Brand Portfolio (1)		354,783		342,083		342,083
Total intangible assets		357,583		344,883		344,883
Accumulated amortization		(166,000)		(154,806)		(157,565)
Total intangible assets, net		191,583		190,077		187,318
Goodwill
Brand Portfolio (2)		11,572		4,956		4,956
Total goodwill		11,572		4,956		4,956
Goodwill and intangible assets, net	$	203,155	$	195,033	$	192,274

(1) The carrying amount of intangible assets as of November 1, 2025, November 2, 2024 and February 1, 2025 is presented net of accumulated impairment charges of $106.2 million.

(2) The carrying amount of goodwill as of November 1, 2025, November 2, 2024 and February 1, 2025 is presented net of accumulated impairment charges of $415.7 million.

As further described in Note 3 of the condensed consolidated financial statements, the Company acquired Stuart Weitzman on August 4, 2025.  The preliminary allocation of the purchase price resulted in trademark intangible assets of $12.7 million and incremental goodwill of $6.6 million.  The trademark is being amortized on a straight-line basis over its useful life of 20 years.  

The Company’s intangible assets as of November 1, 2025, November 2, 2024 and February 1, 2025 were as follows:

($ thousands)	November 1, 2025
	Estimated Useful Lives			Accumulated		Accumulated
	(In Years)	Cost Basis		Amortization		Impairment		Net Carrying Value
Trade names	2 - 40	$	312,188	$	147,142	$	10,200	$	154,846
Trade names	Indefinite		107,400		—		92,000		15,400
Customer relationships	15 - 16		44,200		18,858		4,005		21,337
		$	463,788	$	166,000	$	106,205	$	191,583
	November 2, 2024
	Estimated Useful Lives			Accumulated		Accumulated
	(In Years)	Cost Basis		Amortization		Impairment		Net Carrying Value
Trade names	2 - 40	$	299,488	$	138,237	$	10,200	$	151,051
Trade names	Indefinite		107,400		—		92,000		15,400
Customer relationships	15 - 16		44,200		16,569		4,005		23,626
		$	451,088	$	154,806	$	106,205	$	190,077
	February 1, 2025
	Estimated Useful Lives			Accumulated		Accumulated
	(In Years)	Cost Basis		Amortization		Impairment		Net Carrying Value
Trade names	2 - 40	$	299,488	$	140,424	$	10,200	$	148,864
Trade names	Indefinite		107,400		—		92,000		15,400
Customer relationships	15 - 16		44,200		17,141		4,005		23,054
		$	451,088	$	157,565	$	106,205	$	187,318

Amortization expense related to intangible assets was $2.9 million and $2.8 million for the thirteen weeks ended November 1, 2025 and November 2, 2024, respectively, and $8.4 million and $8.3 million for the thirty-nine weeks ended November 1, 2025 and November 2, 2024, respectively.  The Company estimates that amortization expense related to intangible assets will be approximately $11.4 million in 2025, $11.7 million in 2026, $11.5 million in 2027, and $11.3 million in 2028 and 2029.

Goodwill is tested for impairment as of the first day of the fourth quarter of each fiscal year, or more frequently if events or circumstances indicate it might be impaired, using either the qualitative assessment or a quantitative fair value-based test.  The Company recorded no goodwill impairment charges during the thirty-nine weeks ended November 1, 2025 or November 2, 2024.

Indefinite-lived intangible assets are tested for impairment as of the first day of the fourth quarter of each fiscal year unless events or circumstances indicate an interim test is required.  The Company recorded no impairment charges for indefinite-lived intangible assets during the thirty-nine weeks ended November 1, 2025 or November 2, 2024.