Leases

12 Months Ended

Jan. 29, 2022

Leases [Abstract]

Leases

Note 7. Leases

The Company currently leases its administrative offices and distribution center. During fiscal 2021 and fiscal 2020, the Company recorded net lease costs of $0.8 million, and did not record any contingent rentals.

As of January 29, 2022, the maturity of lease liabilities is as follows:

	Operating Leases
(amounts in thousands)
2022	$	748
2023		767
2024		652
2025		296
Thereafter		-
Total lease payments		2,463
Less: amounts representing interest		(206	)
Present value of lease liabilities	$	2,257

Lease term and discount rate are as follows:

	As of January 29, 2022
Weighted-average remaining lease term (years)
Operating leases		3.3
Weighted-average discount rate Operating leases		5	%

Other information:

	Fiscal 2021
(amounts in thousands)
Cash paid for amounts included in the measurement of operating lease liabilities
Operating cash flows from operating leases	$	726

Future minimum rental payments required under the remaining leases for the administrative office and distribution center in Spokane, Washington as of January 29, 2022, are as follows (amounts in thousands):

(amounts in thousands)	Operating Leases
2022	$	748
2023		767
2024		652
2025		296
Thereafter		-
Total minimum lease payments	$	2,463