Goodwill

12 Months Ended

Jan. 29, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill

Goodwill activity is summarized by business segment as follows (in thousands):

	Americas Retail		Americas Wholesale		Europe		Asia		Total
Goodwill balance at February 1, 2020	$	1,725	$	9,965	$	23,087	$	—	$	34,777
Adjustments:
Translation and other adjustments	22		4		1,933		—		1,959
Goodwill balance at January 30, 2021	1,747		9,969		25,020		—		36,736
Adjustments:
Translation and other adjustments	—		—		(1,851)		—		(1,851)
Goodwill balance at January 29, 2022	$	1,747	$	9,969	$	23,169	$	—	$	34,885

The Company had $1.5 million accumulated impairment related to goodwill as of both January 29, 2022 and January 30, 2021.

The COVID-19 pandemic has materially impacted the Company’s financial results during fiscal 2021 as discussed further in Note 1. During fiscal 2022, the Company assessed qualitative factors and determined that it is not more likely than not that the fair values of its reporting units are less than their carrying amounts. Accordingly, the Company did not record any asset impairment charges on its goodwill or flagship assets that continued to meet the appropriate criteria during fiscal 2022. In performing its assessment, the Company believes it made reasonable accounting estimates based on the facts and circumstances that were available as of the testing date in light of the evolving situation resulting from the COVID-19 pandemic. If actual results are not consistent with the assumptions and judgments used, there may be additional exposure to future impairment losses that could be material to the Company’s results of operations.

From time-to-time, the Company may acquire certain retail locations from its wholesale partners which may result in the recognition of goodwill or other intangible assets.