Assets and Liabilities Held for Sale

6 Months Ended

Aug. 01, 2015

Discontinued Operations and Disposal Groups [Abstract]

Assets and Liabilities Held for Sale

Assets and Liabilities Held for Sale

As of August 1, 2015, all assets and liabilities of the Boston Proper DTC business have been recorded as held for sale in the accompanying condensed consolidated balance sheets. All assets held for sale were measured at fair value less costs to sell, resulting in a loss of $2.0 million in the second quarter of 2015, which is reflected in restructuring and strategic charges in the condensed consolidated statements of income.

The following table summarizes the balances of assets and liabilities held for sale as of August 1, 2015. Other intangible assets is presented net of impairment charges, as further discussed in Note 4:

	August 1, 2015
	(in thousands)
Assets:
Inventories	$	11,282
Other current assets	1,709
Property and equipment, net	565
Other intangible assets, net	50,341
Boston Proper DTC assets	63,897
Loss recognized on Boston Proper DTC assets held for sale	(2,000		)
Total Boston Proper DTC assets held for sale	61,897
Land and other assets held for sale	24,044
Total assets held for sale	$	85,941
Liabilities:
Current liabilities	$	7,297
Total Boston Proper DTC liabilities held for sale	$	7,297