Discontinued Operations:

6 Months Ended

Jul. 30, 2016

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations:

Discontinued Operations: On July 17, 2015, we sold 100% of the equity interests of our Ben Sherman business, consisting of Ben Sherman Limited and its subsidiaries and Ben Sherman Clothing LLC, for £40.8 million before any working capital or other purchase price adjustments. The final purchase price received by us was subject to adjustment based on, among other things, the actual debt and net working capital of the Ben Sherman business on the closing date, which was finalized and paid during the First Quarter of Fiscal 2016. We do not anticipate significant operations or earnings related to the discontinued operations in future periods, with cash flow attributable to discontinued operations in the future primarily limited to amounts associated with certain retained lease obligations. The estimated lease liability of $3.5 million as of July 30, 2016 represents our best estimate of the future net loss anticipated with respect to the retained lease obligations; however, the ultimate loss remains uncertain as the amount of any sub-lease income is dependent upon negotiated terms of any sub-lease agreements entered into for the spaces in the future.

The following table represents major classes of assets and liabilities related to the discontinued operations included in our consolidated balance sheets as of the following dates (in thousands):

	July 30, 2016			January 30, 2016			August 1, 2015
Other current assets, net	$	—		$	—		$	49
Accounts payable and other accrued expenses	—			(2,394		)	(6,868		)
Non-current liabilities	(3,469		)	(4,571		)	—
Net (liabilities) assets	$	(3,469	)	$	(6,965	)	$	(6,819	)

Operating results of the discontinued operations are shown below (in thousands):

	Second Quarter Fiscal 2016		Second Quarter Fiscal 2015			First Half Fiscal 2016		First Half Fiscal 2015
Net sales	$	—	$	13,105		$	—	$	28,081
Cost of goods sold	—		8,824			—		17,414
Gross profit	$	—	$	4,281		$	—	$	10,667
SG&A	—		8,370			—		20,106
Royalties and other operating income	—		789			—		1,919
Operating loss	$	—	$	(3,300	)	$	—	$	(7,520	)
Interest expense, net	—		(27		)	—		45
Loss from discontinued operations before income taxes	$	—	$	(3,273	)	$	—	$	(7,565	)
Income taxes	—		(640		)	—		(864		)
Loss from discontinued operations, net of taxes	$	—	$	(2,633	)	$	—	$	(6,701	)
Loss on sale of discontinued operations, net of taxes	—		(20,437		)	—		(20,437		)
Loss from discontinued operations, net of taxes	$	—	$	(23,070	)	$	—	$	(27,138	)

During the First Half of Fiscal 2016, we did not incur any depreciation, amortization or capital expenditures related to our discontinued operations, while in the First Half of Fiscal 2015, we recognized $0.7 million of depreciation and amortization and $0.7 million of capital expenditures. Depreciation, amortization and capital expenditures, if any, related to our discontinued operations are included in the respective line items in our consolidated statements of cash flows.