Business Combination: Business Combination: (Tables)

3 Months Ended

Apr. 30, 2016

Schedule of Business Acquisitions, by Acquisition

The following table summarizes our preliminary allocation of the purchase price for the Southern Tide acquisition (in thousands):



	Southern Tide acquisition
Cash and cash equivalents	$	2,423
Receivables	6,042
Inventories (1)	16,656
Prepaid expenses	740
Property and equipment	239
Intangible assets	41,700
Goodwill	33,435
Other non-current assets	344
Accounts payable, accrued expenses and other liabilities	(3,307		)
Deferred Taxes	(3,978		)
Purchase price	$	94,294

(1) Includes a step-up of acquired inventory from cost to fair value of $3.0 million pursuant to the purchase method of accounting. This amount will be recognized in cost of goods sold as the acquired inventory is sold.

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

Intangible assets allocated in connection with our preliminary purchase price allocation consisted of the following (in thousands):



	Useful life	Southern Tide acquisition
Finite lived intangible assets acquired, primarily consisting of customer relationships	0 - 15 years	$	7,400
Trade names and trademarks	Indefinite	34,300
		$	41,700

Business Acquisition, Pro Forma Information



	First Quarter of Fiscal 2016		First Quarter of Fiscal 2015
Net sales	$	268,015	$	271,935
Earnings from continuing operations before income taxes	$	34,364	$	34,085
Earnings from continuing operations	$	22,005	$	20,940
Earnings from continuing operations per shares:
Basic	1.33		1.27
Diluted	1.32		1.27