Lifetime Brands (LCUT) 10-Q 8 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	Apr. 30, 2015
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Trading Symbol	LCUT
Entity Registrant Name	LIFETIME BRANDS, INC
Entity Central Index Key	874396
Current Fiscal Year End Date	-19
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		13,861,406

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
CURRENT ASSETS
Cash and cash equivalents	$3,415	$5,068
Accounts receivable, less allowances of $6,375 at March 31, 2015 and $6,663 at December 31, 2014	78,761	107,211
Inventory (Note A)	142,997	137,924
Prepaid expenses and other current assets	11,462	7,914
Deferred income taxes (Note H)	420
TOTAL CURRENT ASSETS	237,055	258,117
PROPERTY AND EQUIPMENT, net	26,317	26,801
INVESTMENTS (Note C)	27,970	28,155
INTANGIBLE ASSETS, net (Note D)	101,851	103,597
OTHER ASSETS	4,539	4,732
TOTAL ASSETS	397,732	421,402
CURRENT LIABILITIES
Current maturity of Credit Agreement Term Loan (Note E)	10,000	10,000
Short term loan (Note E)	480	765
Accounts payable	27,155	28,694
Accrued expenses	32,393	36,961
Deferred income taxes (Note H)	2,551	2,293
Income taxes payable (Note H)	60	5,156
TOTAL CURRENT LIABILITIES	72,639	83,869
DEFERRED RENT & OTHER LONG-TERM LIABILITIES	20,303	20,160
DEFERRED INCOME TAXES (Note H)	1,485	1,485
REVOLVING CREDIT FACILITY (Note E)	85,279	92,655
CREDIT AGREEMENT TERM LOAN (Note E)	32,500	35,000
STOCKHOLDERS' EQUITY
Preferred stock, $.01 par value, shares authorized: 100 shares of Series A and 2,000,000 shares of Series B; none issued and outstanding
Common stock, $.01 par value, shares authorized: 25,000,000; shares issued and outstanding: 13,859,121 at March 31, 2015 and 13,712,081 at December 31, 2014	139	137
Paid-in capital	162,970	160,315
Retained earnings	35,078	37,703
Accumulated other comprehensive loss (Note K)	-12,661	-9,922
TOTAL STOCKHOLDERS' EQUITY	185,526	188,233
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$397,732	$421,402

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, except Share data, unless otherwise specified
Accounts receivable, allowances	$6,375	$6,663
Preferred stock, par value	$0.01	$0.01
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	13,859,121	13,712,081
Common stock, shares outstanding	13,859,121	13,712,081
Preferred stock Series A
Preferred stock, shares authorized	100	100
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Preferred stock Series B
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Net sales	$117,657	$118,411
Cost of sales	72,749	74,079
Gross margin	44,908	44,332
Distribution expenses	13,483	12,346
Selling, general and administrative expenses	33,596	34,183
Loss from operations	-2,171	-2,197
Interest expense (Note E)	-1,431	-1,390
Financing expense	-154
Loss on early retirement of debt		-319
Loss before income taxes and equity in earnings	-3,756	-3,906
Income tax benefit (Note H)	1,363	1,185
Equity in earnings (losses), net of taxes (Note C)	288	-208
NET LOSS	($2,105)	($2,929)
BASIC LOSS PER COMMON SHARE (NOTE G)	($0.15)	($0.22)
DILUTED LOSS PER COMMON SHARE (NOTE G)	($0.15)	($0.22)
Cash dividends declared per common share	$0.04	$0.04

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (Loss) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Net loss	($2,105)	($2,929)
Other comprehensive income (loss), net of taxes:
Translation adjustment	-2,705	690
Derivative fair value adjustment	-54	9
Effect of retirement benefit obligations	20	7
Other comprehensive income (loss), net of taxes	-2,739	706
Comprehensive loss	($4,844)	($2,223)

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
OPERATING ACTIVITIES
Net loss	($2,105)	($2,929)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Provision for doubtful accounts	18	50
Depreciation and amortization	3,555	3,613
Amortization of financing costs	149	149
Deferred rent	346	-274
Deferred income taxes		-179
Stock compensation expense	750	726
Undistributed equity in (earnings) losses, net	-288	208
Loss on early retirement of debt		319
Changes in operating assets and liabilities (excluding the effects of business acquisitions)
Accounts receivable	27,355	19,218
Inventory	-6,468	-3,068
Prepaid expenses, other current assets and other assets	-3,593	-3,755
Accounts payable, accrued expenses and other liabilities	-4,407	-10,197
Income taxes payable	-5,071	-2,947
NET CASH PROVIDED BY OPERATING ACTIVITIES	10,241	934
INVESTING ACTIVITIES
Purchases of property and equipment	-1,406	-1,156
Kitchen Craft acquisition, net of cash acquired		-59,856
Other acquisitions, net of cash acquired		-5,280
NET CASH USED IN INVESTING ACTIVITIES	-1,406	-66,292
FINANCING ACTIVITIES
Proceeds from Revolving Credit Facility	61,523	78,657
Repayments of Revolving Credit Facility	-68,899	-43,458
Repayments of Senior Secured Term Loan		-20,625
Proceeds from Credit Agreement Term Loan		50,000
Repayment of Credit Agreement Term Loan	-2,500
Proceeds from Short Term Loan	37
Payments on Short Term Loan	-322
Payment of financing costs		-1,375
Proceeds from exercise of stock options	281	1,200
Cash dividends paid (Note K)	-514	-501
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	-10,394	63,898
Effect of foreign exchange on cash	-94	736
DECREASE IN CASH AND CASH EQUIVALENTS	-1,653	-724
Cash and cash equivalents at beginning of period	5,068	4,947
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$3,415	$4,223

BASIS_OF_PRESENTATION_AND_SUMM

BASIS OF PRESENTATION AND SUMMARY ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2015
BASIS OF PRESENTATION AND SUMMARY ACCOUNTING POLICIES	NOTE A — BASIS OF PRESENTATION AND SUMMARY ACCOUNTING POLICIES
	Organization and business
	Lifetime Brands, Inc. (the “Company”) designs, sources and sells branded kitchenware, tableware and other products used in the home and markets its products under a number of brand names and trademarks, which are either owned or licensed by the Company, or through retailers’ private labels. The Company markets and sells its products principally on a wholesale basis to retailers. The Company also markets and sells a limited selection of its products directly to consumers through its Pfaltzgraff®, Mikasa®, Fred® and Friends, Built NY®, Lifetime Sterling® and The English Table Internet websites.
	During the second quarter of 2014, the Company realigned its reportable segments into three categories, U.S. Wholesale, International and Retail Direct. The U.S. Wholesale segment, formerly the Wholesale segment, includes the domestic operations of the Company’s primary business that designs, markets and distributes its products to retailers and distributors. Due to recent acquisitions, certain business operations conducted outside the U.S., previously included in the Wholesale segment, were moved to the International segment. This change reflects the manner in which management assesses performance and allocates resources. No changes were made to the Retail Direct segment. Previous periods presented have been recast to conform with the current period presentation.
	Basis of presentation
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments, which consist only of normal recurring accruals, considered necessary for a fair presentation have been included. These condensed consolidated financial statements should be read in conjunction with the condensed consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014. Operating results for the three month period ended March 31, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015.
	The Company’s business and working capital needs are highly seasonal, with a majority of sales occurring in the third and fourth quarters. In 2014 and 2013, net sales for the third and fourth quarters accounted for 60% and 61% of total annual net sales, respectively. In anticipation of the pre-holiday shipping season, inventory levels increase primarily in the June through October time period.
	Revenue recognition
	The Company sells products wholesale, to retailers and distributors, and retail, directly to the consumer. Wholesale sales and retail sales are recognized when title passes to the customer, which is primarily at the shipping point for wholesale sales and upon delivery to the customer for retail sales. Shipping and handling fees that are billed to customers in sales transactions are included in net sales and amounted to $409,000 and $370,000 for the three months ended March 31, 2015 and 2014, respectively. Net sales exclude taxes that are collected from customers and remitted to the taxing authorities.
	The Company offers various sales incentives and promotional programs to its customers from time to time in the normal course of business. These incentives and promotions typically include arrangements such as cooperative advertising, buydowns, volume rebates and discounts. These arrangements and an estimate of sales returns are reflected as reductions in net sales in the Company’s condensed consolidated statements of operations.
	Cost of sales
	Cost of sales consists primarily of costs associated with the production and procurement of product, inbound freight costs, purchasing costs, royalties and other product procurement related charges.
	Distribution expenses
	Distribution expenses consist primarily of warehousing expenses and freight-out expenses.
	Inventory
	Inventory consists principally of finished goods sourced from third-party suppliers. Inventory also includes finished goods, work in process and raw materials related to the Company’s manufacture of sterling silver products. Inventory is priced using the lower of cost (first-in, first-out basis) or market method. The Company estimates the selling price of its inventory on a product by product basis based on the current selling environment. If the estimated selling price is lower than the inventory’s cost, the Company reduces the value of the inventory to its net realizable value.
	The components of inventory are as follows:
		March 31,		December 31,
		2015		2014
		(in thousands)
	Finished goods	$	139,556	$	134,564
	Work in process		1,814		1,887
	Raw materials		1,627		1,473
	Total	$	142,997	$	137,924
	Fair value of financial instruments
	The Company determined the carrying amounts of cash and cash equivalents, accounts receivable and accounts payable are reasonable estimates of their fair values because of their short-term nature. The Company determined that the carrying amounts of borrowings outstanding under its revolving credit facility, term loan and short term loan approximate fair value since such borrowings bear interest at variable market rates.
	Derivatives
	The Company accounts for derivative instruments in accordance with Accounting Standard Codification (“ASC”) Topic No. 815, Derivatives and Hedging. ASC Topic No. 815 requires that all derivative instruments be recognized on the balance sheet at fair value as either an asset or liability. Changes in the fair value of derivatives that qualify as hedges and have been designated as part of a hedging relationship for accounting purposes have no net impact on earnings to the extent the derivative is considered highly effective in achieving offsetting changes in fair value or cash flows attributable to the risk being hedged, until the hedged item is recognized in earnings. If a derivative which is designated as part of a hedging relationship is considered ineffective in achieving offsetting changes in fair value or cash flows attributable to the risk being hedged, the changes in fair value are recorded in operations. For derivatives that do not qualify or are not designated as hedging instruments for accounting purposes, changes in fair value are recorded in operations.
	The Company is a party to interest rate swap agreements with an aggregate notional amount of $24.1 million to manage interest rate exposure in connection with its variable interest rate borrowings. The hedge periods of these agreements commenced in March 2013 and expire in June 2018 and the notional amounts amortize over this period. The interest rate swap agreements were designated as cash flow hedges under ASC Topic No. 815. The effective portion of the fair value gain or loss on these agreements is recorded as a component of accumulated other comprehensive loss. The effect of recording these derivatives at fair value resulted in an unrealized loss of $54,000 and an unrealized gain of $9,000, net of taxes, for the three months ended March 31, 2015 and 2014, respectively. No amounts recorded in accumulated other comprehensive loss are expected to be reclassified to interest expense in the next twelve months.
	The fair value of the derivatives have been obtained from the counterparties to the agreement and were based on Level 2 observable inputs using proprietary models and estimates about relevant future market conditions. The aggregate fair value of the Company’s interest derivative instruments was a liability of $123,000 and $32,000 at March 31, 2015 and December 31, 2014, respectively, and is included in accrued expenses and other long-term liabilities in the condensed consolidated balance sheet.
	Employee Healthcare
	The Company self-insures certain portions of its health insurance plan. The Company maintains an accrual for unpaid claims and estimated claims incurred but not yet reported (“IBNR”). Although management believes that it uses the best information available to estimate claims IBNR, actual claims may vary significantly from estimated claims.
	New Accounting Pronouncements
	In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-05, Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement, which provides guidance about whether a cloud computing arrangement includes a software license. This ASU is effective for financial statements issued for fiscal years and interim periods within those fiscal years beginning after December 15, 2015. This ASU can be applied prospectively to all arrangements entered into or materially modified after the effective date or retrospectively. Early adoption is permitted. The Company is currently determining its implementation approach and assessing the impact, if any, on the condensed consolidated financial statements.
	In April 2015, FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs, which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the associated debt liability. This ASU is effective for financial statements issued for fiscal years and interim periods within those fiscal years beginning after December 15, 2015. This ASU will be applied on a retrospective basis and early adoption is permitted. The Company’s adoption of this guidance will not have a material impact on the Company’s condensed consolidated financial position.
	In May 2014, FASB issued ASU 2014-09, Revenue from Contracts with Customers, to clarify the principles of recognizing revenue and create common revenue recognition guidance under U.S. GAAP and International Financial Reporting Standards. This ASU is effective for fiscal years and interim periods within those years beginning after December 15, 2016 and can be adopted either retrospectively to each reporting period presented or as a cumulative effect adjustment as of the date of the adoption, with early application not permitted. The Company is currently determining its implementation approach and assessing the impact, if any, on the condensed consolidated financial statements.

ACQUISITIONS

ACQUISITIONS	3 Months Ended
	Mar. 31, 2015
ACQUISITIONS	NOTE B — ACQUISITIONS
	Kitchen Craft
	On January 15, 2014, the Company acquired 100% of the share capital of Thomas Plant (Birmingham) Limited (“Kitchen Craft”) for cash in the amount of £37.4 million ($61.5 million) and 581,432 shares of common stock of the Company with the market value of £5.5 million ($9.0 million), at the date of closing. The purchase price also included contingent cash consideration of up to £5.5 million ($9.0 million). Kitchen Craft is a leading supplier of kitchenware products and accessories in the United Kingdom. The assets, liabilities and operating results of Kitchen Craft are reflected in the Company’s condensed consolidated financial statements in accordance with ASC Topic No. 805, Business Combinations, commencing from the acquisition date. For detailed information on the allocation of the purchase price, see the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014.
	The purchase price has been determined to be as follows (in thousands):
	Cash		$	61,302
	Share consideration issued(1)			8,382
	Value of contingent consideration(2)			2,488
	Working capital adjustment(3)			374
	Total purchase price		$	72,546
	-1	Share consideration issued is valued at the closing market price discounted to account for lack of marketability related to the lock up period as described in the share purchase agreement.
	-2	The value of contingent consideration represents the present value of the estimated payments related to the attainment of certain financial targets for the years 2014 through 2016, determined as of the date of the acquisition. The maximum undiscounted contingent consideration to be paid under the agreement is £5.5 million ($9.0 million).
	-3	A working capital adjustment was made in May 2014 as provided for in the share purchase agreement.
	As of March 31, 2015 the fair value of the contingent consideration is approximately £2.1 million (approximately $3.1 million). In April 2015, the Company entered into a Deed of Variation and Settlement with the sellers of Kitchen Craft to amend the calculation and financial targets of the contingent consideration included in the purchase agreement. The maximum undiscounted contingent consideration to be paid remains unchanged at £5.5 million. The Company is in the process of determining the fair value of this amended contingent consideration.
	Kitchen Craft is the sponsor of a defined benefit pension plan (the “Plan”) for which service costs accrual ceased prior to the acquisition. Pursuant to the share purchase agreement, the Company and the sellers agreed to take action to settle the Plan’s obligation through the purchase of a group annuity contract and terminate the Plan. At December 31, 2014 the Plan’s net funding was approximately $1.7 million. There was no impact, nor is there any expected future impact, to the Company’s annual statement of operations in connection with the settlement and planned termination of the Plan, which is expected to occur in 2015.
	The Company’s results of operations for the three months ended March 31, 2014 includes the operations of Kitchen Craft for the period from January 15, 2014 to March 31, 2014. Kitchen Craft’s results of operations for the period from January 1, 2014 to January 14, 2014 were immaterial. For the three months ended March 31, 2014, the Company’s results from operations reflect a $0.5 million charge in cost of sales for the increase in fair value of Kitchen Craft’s acquired inventory and $0.9 million charge of related acquisition costs. Had these charges not been incurred, the reported net loss would have been $2.1 million (basic and diluted per loss per common share of $(0.16)).

INVESTMENTS

INVESTMENTS	3 Months Ended
	Mar. 31, 2015
INVESTMENTS	NOTE C — INVESTMENTS
	The Company owns approximately a 30% interest in Grupo Vasconia S.A.B. (“Vasconia”), an integrated manufacturer of aluminum products and one of Mexico’s largest housewares companies. Shares of Vasconia’s capital stock are traded on the Bolsa Mexicana de Valores, the Mexican Stock Exchange. The Quotation Key is VASCONI. The Company accounts for its investment in Vasconia using the equity method of accounting and records its proportionate share of Vasconia’s net income in the Company’s statement of operations. Accordingly, the Company has recorded its proportionate share of Vasconia’s net income (reduced for amortization expense related to the customer relationships acquired) for the three month periods ended March 31, 2015 and 2014 in the accompanying condensed consolidated statements of operations. The value of the Company’s investment balance has been translated from Mexican Pesos (“MXN”) to U.S. Dollars (“USD”) using the spot rates of MXN 15.26 and MXN 14.74 at March 31, 2015 and December 31, 2014, respectively. The Company’s proportionate share of Vasconia’s net income has been translated from MXN to USD using the average exchange rates of MXN 14.94 and MXN 13.23 during the three months ended March 31, 2015 and 2014, respectively. The effect of the translation of the Company’s investment resulted in a decrease to the investment of $1.7 million and $11,000 during the three months ended March 31, 2015 and 2014, respectively (also see Note K). These translation effects are recorded in accumulated other comprehensive loss. Included within accrued expenses at March 31, 2015 are amounts due to Vasconia of $119,000. Included in prepaid expenses and other current assets at December 31, 2014 are amounts due from Vasconia of $33,000.
	Summarized statement of income information for Vasconia in USD and MXN is as follows:
		Three Months Ended
		March 31,
		2015				2014
		(in thousands)
		USD		MXN		USD		MXN
	Net sales	$	47,339	$	707,435	$	43,258	$	572,196
	Gross profit		9,436		141,012		7,839		103,697
	Income from operations		2,747		41,048		1,754		23,207
	Net income		1,245		18,612		109		1,438
	The Company recorded equity in earnings of Vasconia, net of taxes, of $0.3 million and $41,000 for the three months ended March 31, 2015 and 2014, respectively.
	As of March 31, 2015 and December 31, 2014, the fair value (based upon Vasconia’s quoted stock price) of the Company’s investment in Vasconia was $29.8 million and $30.8 million, respectively. The carrying value of the Company’s investment in Vasconia was $27.6 million and $27.8 million as of March 31, 2015 and December 31, 2014, respectively.
	The Company has a 40% equity interest in GS Internacional S/A (“GSI”), a leading wholesale distributor of branded housewares products in Brazil, which the Company acquired in December 2011. As of March 31, 2015 and December 31, 2014, the carrying value of the Company’s investment in GSI was $0 and therefore the Company has not recorded its share of equity in losses in the three months ended March 31, 2015. The Company will continue to monitor the operating results of GSI and will record equity in earnings when the equity in earnings exceeds the Company’s previously unrecognized losses. The Company recorded equity in losses of GSI of $213,000, net of taxes for the three months ended March 31, 2014.
	The Company evaluated the disclosure requirements of ASC Topic No. 860, Transfers and Servicing, and determined that at March 31, 2015, the Company did not have a controlling voting interest or variable interest in any of its investments and therefore continued accounting for the investments using the equity method of accounting.

INTANGIBLE_ASSETS

INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2015
INTANGIBLE ASSETS	NOTE D — INTANGIBLE ASSETS
	Intangible assets consist of the following (in thousands):
		March 31, 2015							December 31, 2014
		Gross		Accumulated			Net		Gross		Accumulated			Net
				Amortization							Amortization
	Goodwill	$	18,101	$	—		$	18,101	$	18,101	$	—		$	18,101
	Indefinite-lived intangible assets:
	Trade names		7,616		—			7,616		7,616		—			7,616
	Finite-lived intangible assets:
	Licenses		15,847		(8,121	)		7,726		15,847		(8,007	)		7,840
	Trade names		29,724		(5,097	)		24,627		29,768		(4,568	)		25,200
	Customer relationships		50,823		(7,762	)		43,061		50,823		(6,754	)		44,069
	Other		1,202		(482	)		720		1,202		(431	)		771
	Total	$	123,313	$	(21,462	)	$	101,851	$	123,357	$	(19,760	)	$	103,597

DEBT

DEBT	3 Months Ended
	Mar. 31, 2015
DEBT	NOTE E — DEBT
	Credit Agreement
	The Company’s Credit Agreement, which expires in January 2019, provides for, among other things, a Revolving Credit Facility commitment totaling $175.0 million ($40.0 million of which is available for multi-currency borrowings) and a Term Loan facility of $50.0 million.
	At March 31, 2015 and December 31, 2014, borrowings outstanding under the Revolving Credit Facility were $85.3 million and $92.7 million, respectively, and open letters of credit were $1.9 million and $2.3 million, respectively. At March 31, 2015, availability under the Revolving Credit Facility was approximately $55.4 million.
	The borrowing capacity under the Revolving Credit Facility depends, in part, on eligible levels of accounts receivable and inventory that fluctuate regularly and certain trademark values based upon periodic appraisals, and may be lower in the first and second quarters when the Company’s inventory level is lower due to seasonality.
	The Company’s payment obligations under the Revolving Credit Facility are unconditionally guaranteed by each of its existing U.S. subsidiaries and will be unconditionally guaranteed by each of its future U.S. subsidiaries. Certain payment obligations under the Revolving Credit Facility are also direct obligations of its foreign subsidiary borrowers designated as such under the Credit Agreement and, subject to limitations on such guaranties, are guaranteed by the foreign subsidiary borrowers, as well as by the Company. The obligations of the Company under the Revolving Credit Facility and any hedging arrangements and cash management services and the guarantees by its domestic subsidiaries in respect of those obligations are secured by substantially all of the assets and stock (but in the case of foreign subsidiaries, limited to 65% of the capital stock in first-tier foreign subsidiaries and not including the stock of subsidiaries of such first-tier foreign subsidiaries) owned by the Company and the U.S. subsidiary guarantors, subject to certain exceptions. Such security interests consist of a first-priority lien, subject to certain permitted liens, with respect to the assets of the Company and its domestic subsidiaries pledged as collateral in favor of lenders under the Revolving Credit Facility.
	As of March 31, 2015 and December 31, 2014, $42.5 million and $45.0 million, respectively, was outstanding under the Term Loan.
	Interest rates on outstanding borrowings at March 31, 2015 ranged from 2.125% to 4.6875%. In addition, the Company pays a commitment fee of 0.375% on the unused portion of the Revolving Credit Facility.
	The Credit Agreement provides for customary restrictions and events of default. Restrictions include limitations on additional indebtedness, acquisitions, investments and payment of dividends, among other things. Further, the Credit Agreement provides that at any time any Term Loan is outstanding or at any time no Term Loan is outstanding and availability under the Revolving Credit Facility is less than $17.5 million and continuing until availability of at least $20.0 million is maintained for three consecutive months, the Company is required to maintain a minimum fixed charge coverage ratio of 1.10 to 1.00 for each of four consecutive fiscal quarter periods. The Credit Agreement also provides that when the Term Loan is outstanding, the Company is required to maintain a Senior Leverage Ratio within defined parameters not to exceed 4.00 to 1.00 for each fiscal quarter ending during 2015; and 3.25 to 1.00 for each fiscal quarter ending thereafter.
	Pursuant to the term loan agreement, as of March 31, 2015, the maximum additional permitted indebtedness other than certain subordinated indebtedness was $35.5 million. The Company was in compliance with the financial covenants of the Credit Agreement at March 31, 2015.
	Other Credit Agreements
	A subsidiary of the Company has a credit facility (“HSBC Facility” or “Short term loan”) with HSBC Bank (China) Company Limited, Shanghai Branch (“HSBC”) for up to RMB 18.0 million ($2.9 million). The HSBC Facility is subject to annual renewal and may be used to fund general working capital needs of the subsidiary which is a trading company in the People’s Republic of China. Borrowings under the HSBC Facility are guaranteed by the Company and are granted at the sole discretion of HSBC. At March 31, 2015, RMB 3.0 million ($480,000) was outstanding and the average interest rate was 6.28% under the HSBC Facility.

STOCK_COMPENSATION

STOCK COMPENSATION	3 Months Ended
	Mar. 31, 2015
STOCK COMPENSATION	NOTE F — STOCK COMPENSATION
	A summary of the Company’s stock option activity and related information for the three months ended March 31, 2015 is as follows:
		Options			Weighted-		Weighted-		Aggregate
					average		average		intrinsic
					exercise		remaining		value
					price		contractual
							life (years)
	Options outstanding, January 1, 2015		2,326,627		$	14.19
	Exercises		(30,700	)		9.16
	Cancellations		(19,000	)		15.09
	Options outstanding, March 31, 2015		2,276,927			14.25		5.7	$	7,304
	Options exercisable, March 31, 2015		1,503,085		$	13.79		4.6	$	5,922
	The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value that would have been received by the option holders had all option holders exercised their stock options on March 31, 2015. The intrinsic value is calculated for each in-the-money stock option as the difference between the closing price of the Company’s common stock on March 31, 2015 and the exercise price.
	The total intrinsic value of stock options exercised for the three months ended March 31, 2015 and 2014 was $163,500 and $668,300, respectively. The intrinsic value of a stock option that is exercised is calculated at the date of exercise.
	Total unrecognized stock option compensation expense at March 31, 2015, before the effect of income taxes, was $4.4 million and is expected to be recognized over a weighted-average period of 2.4 years.
	During the three months ended March 31, 2015, the Company granted 1,471 shares of restricted stock to a director with a weighted average grant date fair value of $15.65 per share. These shares will vest over approximately three months.
	Total unrecognized restricted stock compensation expense at March 31, 2015 was $140,000 and is expected to be recognized over a weighted-average period of 0.6 years.
	The Company recognized total stock compensation expense of $750,000 for the three months ended March 31, 2015, of which $597,000 represents stock option compensation expense, $100,000 represents restricted stock compensation expense and $53,000 represents stock awards granted in 2015. Total stock compensation expense for the three months ended March 31, 2014 was $726,000, of which $648,000 represents stock option compensation expense and $78,000 represents restricted share compensation expense.
	At March 31, 2015, there were 199,022 shares available for awards that could be granted under the Company’s 2000 Long-Term Incentive Plan.

LOSS_PER_COMMON_SHARE

LOSS PER COMMON SHARE	3 Months Ended
	Mar. 31, 2015
LOSS PER COMMON SHARE	NOTE G — LOSS PER COMMON SHARE
	Basic loss per common share has been computed by dividing net loss by the weighted-average number of shares of the Company’s common stock outstanding during the relevant period. Diluted loss per common share adjusts net loss and basic loss per common share for the effect of all potentially dilutive shares of the Company’s common stock. The calculations of basic and diluted loss per common share for the three month periods ended March 31, 2015 and 2014 are as follows:
		Three Months Ended
		March 31,
		2015			2014
		(in thousands, except per share amounts)
	Net loss – basic and diluted	$	(2,105	)	$	(2,929	)
	Weighted-average shares outstanding – basic and diluted		13,738			13,274
	Basic and diluted loss per common share	$	(0.15	)	$	(0.22	)
	The computation of diluted loss per common share for the three months ended March 31, 2015 and 2014 excludes options to purchase 2,276,927 and 2,361,437 shares, respectively. These shares were excluded due to their antidilutive effects.

INCOME_TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2015
INCOME TAXES	NOTE H — INCOME TAXES
	On a quarterly basis, the Company evaluates its tax positions and revises its estimates accordingly. The estimated value of the Company’s uncertain tax positions at March 31, 2015 is a gross liability of tax and interest of $475,000. The Company believes that $313,000 of its tax positions will be resolved within the next twelve months.
	The Company has identified the following jurisdictions as “major” tax jurisdictions: U.S. Federal, California, Massachusetts, New York, New Jersey and the United Kingdom. The Company is no longer subject to U.S. Federal income tax examinations for the years prior to 2010. At March 31, 2015, the periods subject to examination for the Company’s major state jurisdictions are the years ended 2010 through 2013.
	The Company’s policy for recording interest and penalties is to record such items as a component of income taxes. Interest and penalties were not material to the Company’s financial position, results of operations or cash flows as of and for the three months ended March 31, 2015 and 2014.

BUSINESS_SEGMENTS

BUSINESS SEGMENTS	3 Months Ended
	Mar. 31, 2015
BUSINESS SEGMENTS	NOTE I — BUSINESS SEGMENTS
	The Company operates in three reportable business segments: U.S. Wholesale, International and Retail Direct. The U.S. Wholesale segment is the Company’s primary domestic business that designs, markets and distributes its products to retailers and distributors. The International segment consists of certain business operations conducted outside the U.S. which was previously included in the Wholesale segment. The Retail Direct segment is where the Company markets and sells a limited selection of its products directly to consumers through its Pfaltzgraff®, Mikasa®, Fred® and Friends, Built NY®, Lifetime Sterling® and The English Table Internet websites.
	The Company has segmented its operations to reflect the manner in which management reviews and evaluates the results of its operations. While the three segments distribute similar products, the segments have been distinct due to the different methods the Company uses to sell, market and distribute the products. Management evaluates the performance of the U.S. Wholesale, International and Retail Direct segments based on net sales and income (loss) from operations. Such measures give recognition to specifically identifiable operating costs such as cost of sales, distribution expenses and selling, general and administrative expenses. Certain general and administrative expenses, such as senior executive salaries and benefits, stock compensation, director fees and accounting, legal and consulting fees, are not allocated to the specific segments and are reflected as unallocated corporate expenses.
	During the second quarter of 2014, the Company realigned its reportable segments into the three categories discussed above. The March 31, 2014 period presented has been recast to conform with the current period presentation.
		Three Months Ended
		March 31,
		2015			2014
		(in thousands)
	Net sales
	U.S. Wholesale	$	86,521		$	85,681
	International		25,365			28,137
	Retail Direct		5,771			4,593
	Total net sales	$	117,657		$	118,411
	Income (loss) from operations
	U.S. Wholesale	$	1,951		$	2,409
	International		(545	)		(206	)
	Retail Direct		(49	)		(299	)
	Unallocated corporate expenses		(3,528	)		(4,101	)
	Total loss from operations	$	(2,171	)	$	(2,197	)
	Depreciation and amortization
	U.S. Wholesale	$	2,187		$	2,269
	International		1,330			1,280
	Retail Direct		38			64
	Total depreciation and amortization	$	3,555		$	3,613
		March 31,			December 31,
		2015			2014
		(in thousands)
	Assets
	U.S. Wholesale	$	275,116		$	287,744
	International		118,345			128,055
	Retail Direct		436			535
	Unallocated/ Corporate/ Other		3,835			5,068
	Total assets	$	397,732		$	421,402

CONTINGENCIES

CONTINGENCIES	3 Months Ended
	Mar. 31, 2015
CONTINGENCIES	NOTE J — CONTINGENCIES
	Wallace Silversmiths de Puerto Rico, Ltd. (“Wallace de Puerto Rico”), a wholly-owned subsidiary of the Company, operates a manufacturing facility in San Germán, Puerto Rico that is leased from the Puerto Rico Industrial Development Company (“PRIDCO”). In March 2008, the United States Environmental Protection Agency (the “EPA”) announced that the San Germán Ground Water Contamination site in Puerto Rico (the “Site”) had been added to the Superfund National Priorities List due to contamination present in the local drinking water supply.
	In May 2008, Wallace de Puerto Rico received from the EPA a Notice of Potential Liability and Request for Information Pursuant to 42 U.S.C. Sections 9607(a) and 9604(e) of the Comprehensive Environmental Response, Compensation, and Liability Act. The Company responded to the EPA’s Request for Information on behalf of Wallace de Puerto Rico. In July 2011, Wallace de Puerto Rico received a letter from the EPA requesting access to the property that it leases from PRIDCO, and the Company granted such access. In February 2013, the EPA requested access to conduct further environmental investigation at the property. PRIDCO agreed to such access and the Company consented. EPA conducted further investigation during 2013. EPA has since provided PRIDCO and the Company with the vapor intrusion sampling results and, during an April 2015 meeting with PRIDCO and the Company, the EPA advised that the results from the vapor intrusion sampling required the implementation of measures to mitigate potential exposure to sub-slab soil gas. The Company is presently reviewing this information and has requested that PRIDCO, as the property owner, find and implement a solution acceptable to the EPA. The Company is not yet able to estimate the extent of any possible liability with respect to the vapor intrusion issues. During the referenced April 2015 meeting, the EPA also advised PRIDCO and the Company that in the coming months they plan to release Remedial Investigation results with respect to the San Germán Groundwater Contamination Site. The Company is unable to determine what, if any, additional requirements or potential liabilities will result from the EPA’s Remedial Investigation.
	The Company is, from time to time, involved in other legal proceedings. The Company believes that other current litigation is routine in nature and incidental to the conduct of the Company’s business and that none such litigation, individually or collectively, would have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows.

OTHER

OTHER	3 Months Ended
	Mar. 31, 2015
OTHER	NOTE K — OTHER
	Cash dividends
	On March 4, 2015, the Board of Directors declared a quarterly dividend of $0.0375 per share payable on May 15, 2015 to shareholders of record on May 1, 2015. As of March 31, 2015, the Company accrued $520,000 for the payment of the dividend.
	Supplemental cash flow information
			Three Months Ended
			March 31,
			2015			2014
			(in thousands)
	Supplemental disclosure of cash flow information:
	Cash paid for interest		$	1,151		$	1,099
	Cash paid for taxes			6,018			4,340
	Non-cash investing activities:
	Translation adjustment		$	2,705		$	(690	)
	Components of accumulated other comprehensive loss, net
			Three Months Ended
			March 31,
			2015			2014
			(in thousands)
	Accumulated translation adjustment:
	Balance at beginning of period		$	(7,680	)	$	(2,944	)
	Translation gain (loss) during period			(2,705	)		690
	Balance at end of period		$	(10,385	)	$	(2,254	)
	Accumulated deferred losses on cash flow hedges:
	Balance at beginning of period		$	(18	)	$	(31	)
	Derivative fair value adjustment, net of taxes of $49 and $6 for the three months ended March 31, 2015 and 2014, respectively.			(54	)		9
	Balance at end of period		$	(72	)	$	(22	)
	Accumulated effect of retirement benefit obligations:
	Balance at beginning of period		$	(2,224	)	$	(745	)
	Amounts reclassified from accumulated other comprehensive loss: (1)
	Amortization of actuarial losses, net of taxes of $13 and $5 for the three months ended March 31, 2015 and 2014, respectively.			20			7
	Balance at end of period		$	(2,204	)	$	(738	)
	Total accumulated other comprehensive loss at end of period		$	(12,661	)	$	(3,014	)
	-1	Amounts are recorded in selling, general and administrative expense on the condensed consolidated statements of operations.
	Subsequent Event
	Reed and Barton
	In February 2015, the Company entered into an asset purchase agreement to acquire the operating assets and to assume certain liabilities of Reed and Barton Corporation. The agreement provides that the Company will purchase the assets pursuant to Section 363 of the United States Bankruptcy Code. The transaction is subject to a number of conditions, including completion of an auction process and bankruptcy court approval. On April 28, 2015, the Bankruptcy Court selected an alternative bidder to purchase the operating assets and to assume certain liabilities of Reed and Barton Corporation. If the transaction with the alternative bidder does not close, the Company has agreed to serve as backup bidder for these assets, at the price and on the terms and conditions set forth in the asset purchase agreement.

BASIS_OF_PRESENTATION_AND_SUMM1

BASIS OF PRESENTATION AND SUMMARY ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2015
Basis of presentation	Basis of presentation
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments, which consist only of normal recurring accruals, considered necessary for a fair presentation have been included. These condensed consolidated financial statements should be read in conjunction with the condensed consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014. Operating results for the three month period ended March 31, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015.
	The Company’s business and working capital needs are highly seasonal, with a majority of sales occurring in the third and fourth quarters. In 2014 and 2013, net sales for the third and fourth quarters accounted for 60% and 61% of total annual net sales, respectively. In anticipation of the pre-holiday shipping season, inventory levels increase primarily in the June through October time period.
Revenue recognition	Revenue recognition
	The Company sells products wholesale, to retailers and distributors, and retail, directly to the consumer. Wholesale sales and retail sales are recognized when title passes to the customer, which is primarily at the shipping point for wholesale sales and upon delivery to the customer for retail sales. Shipping and handling fees that are billed to customers in sales transactions are included in net sales and amounted to $409,000 and $370,000 for the three months ended March 31, 2015 and 2014, respectively. Net sales exclude taxes that are collected from customers and remitted to the taxing authorities.
	The Company offers various sales incentives and promotional programs to its customers from time to time in the normal course of business. These incentives and promotions typically include arrangements such as cooperative advertising, buydowns, volume rebates and discounts. These arrangements and an estimate of sales returns are reflected as reductions in net sales in the Company’s condensed consolidated statements of operations.
Cost of sales	Cost of sales
	Cost of sales consists primarily of costs associated with the production and procurement of product, inbound freight costs, purchasing costs, royalties and other product procurement related charges.
Distribution expenses	Distribution expenses
	Distribution expenses consist primarily of warehousing expenses and freight-out expenses.
Inventory	Inventory
	Inventory consists principally of finished goods sourced from third-party suppliers. Inventory also includes finished goods, work in process and raw materials related to the Company’s manufacture of sterling silver products. Inventory is priced using the lower of cost (first-in, first-out basis) or market method. The Company estimates the selling price of its inventory on a product by product basis based on the current selling environment. If the estimated selling price is lower than the inventory’s cost, the Company reduces the value of the inventory to its net realizable value.
	The components of inventory are as follows:
		March 31,		December 31,
		2015		2014
		(in thousands)
	Finished goods	$	139,556	$	134,564
	Work in process		1,814		1,887
	Raw materials		1,627		1,473
	Total	$	142,997	$	137,924
Fair value of financial instruments	Fair value of financial instruments
	The Company determined the carrying amounts of cash and cash equivalents, accounts receivable and accounts payable are reasonable estimates of their fair values because of their short-term nature. The Company determined that the carrying amounts of borrowings outstanding under its revolving credit facility, term loan and short term loan approximate fair value since such borrowings bear interest at variable market rates.
Derivatives	Derivatives
	The Company accounts for derivative instruments in accordance with Accounting Standard Codification (“ASC”) Topic No. 815, Derivatives and Hedging. ASC Topic No. 815 requires that all derivative instruments be recognized on the balance sheet at fair value as either an asset or liability. Changes in the fair value of derivatives that qualify as hedges and have been designated as part of a hedging relationship for accounting purposes have no net impact on earnings to the extent the derivative is considered highly effective in achieving offsetting changes in fair value or cash flows attributable to the risk being hedged, until the hedged item is recognized in earnings. If a derivative which is designated as part of a hedging relationship is considered ineffective in achieving offsetting changes in fair value or cash flows attributable to the risk being hedged, the changes in fair value are recorded in operations. For derivatives that do not qualify or are not designated as hedging instruments for accounting purposes, changes in fair value are recorded in operations.
	The Company is a party to interest rate swap agreements with an aggregate notional amount of $24.1 million to manage interest rate exposure in connection with its variable interest rate borrowings. The hedge periods of these agreements commenced in March 2013 and expire in June 2018 and the notional amounts amortize over this period. The interest rate swap agreements were designated as cash flow hedges under ASC Topic No. 815. The effective portion of the fair value gain or loss on these agreements is recorded as a component of accumulated other comprehensive loss. The effect of recording these derivatives at fair value resulted in an unrealized loss of $54,000 and an unrealized gain of $9,000, net of taxes, for the three months ended March 31, 2015 and 2014, respectively. No amounts recorded in accumulated other comprehensive loss are expected to be reclassified to interest expense in the next twelve months.
	The fair value of the derivatives have been obtained from the counterparties to the agreement and were based on Level 2 observable inputs using proprietary models and estimates about relevant future market conditions. The aggregate fair value of the Company’s interest derivative instruments was a liability of $123,000 and $32,000 at March 31, 2015 and December 31, 2014, respectively, and is included in accrued expenses and other long-term liabilities in the condensed consolidated balance sheet.
Employee Healthcare	Employee Healthcare
	The Company self-insures certain portions of its health insurance plan. The Company maintains an accrual for unpaid claims and estimated claims incurred but not yet reported (“IBNR”). Although management believes that it uses the best information available to estimate claims IBNR, actual claims may vary significantly from estimated claims.
New Accounting Pronouncements	New Accounting Pronouncements
	In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-05, Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement, which provides guidance about whether a cloud computing arrangement includes a software license. This ASU is effective for financial statements issued for fiscal years and interim periods within those fiscal years beginning after December 15, 2015. This ASU can be applied prospectively to all arrangements entered into or materially modified after the effective date or retrospectively. Early adoption is permitted. The Company is currently determining its implementation approach and assessing the impact, if any, on the condensed consolidated financial statements.
	In April 2015, FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs, which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the associated debt liability. This ASU is effective for financial statements issued for fiscal years and interim periods within those fiscal years beginning after December 15, 2015. This ASU will be applied on a retrospective basis and early adoption is permitted. The Company’s adoption of this guidance will not have a material impact on the Company’s condensed consolidated financial position.
	In May 2014, FASB issued ASU 2014-09, Revenue from Contracts with Customers, to clarify the principles of recognizing revenue and create common revenue recognition guidance under U.S. GAAP and International Financial Reporting Standards. This ASU is effective for fiscal years and interim periods within those years beginning after December 15, 2016 and can be adopted either retrospectively to each reporting period presented or as a cumulative effect adjustment as of the date of the adoption, with early application not permitted. The Company is currently determining its implementation approach and assessing the impact, if any, on the condensed consolidated financial statements.

BASIS_OF_PRESENTATION_AND_SUMM2

BASIS OF PRESENTATION AND SUMMARY ACCOUNTING POLICIES (Tables)	3 Months Ended
	Mar. 31, 2015
Components of Inventory	The components of inventory are as follows:
		March 31,		December 31,
		2015		2014
		(in thousands)
	Finished goods	$	139,556	$	134,564
	Work in process		1,814		1,887
	Raw materials		1,627		1,473
	Total	$	142,997	$	137,924

ACQUISITIONS_Tables

ACQUISITIONS (Tables)	3 Months Ended
	Mar. 31, 2015
Purchase Price of Acquisition	The purchase price has been determined to be as follows (in thousands):
	Cash		$	61,302
	Share consideration issued(1)			8,382
	Value of contingent consideration(2)			2,488
	Working capital adjustment(3)			374
	Total purchase price		$	72,546
	-1	Share consideration issued is valued at the closing market price discounted to account for lack of marketability related to the lock up period as described in the share purchase agreement.
	-2	The value of contingent consideration represents the present value of the estimated payments related to the attainment of certain financial targets for the years 2014 through 2016, determined as of the date of the acquisition. The maximum undiscounted contingent consideration to be paid under the agreement is £5.5 million ($9.0 million).
	-3	A working capital adjustment was made in May 2014 as provided for in the share purchase agreement.

INVESTMENTS_Tables

INVESTMENTS (Tables)	3 Months Ended
	Mar. 31, 2015
Summarized Statement of Income Information for Vasconia in USD and MXN	Summarized statement of income information for Vasconia in USD and MXN is as follows:
		Three Months Ended
		March 31,
		2015				2014
		(in thousands)
		USD		MXN		USD		MXN
	Net sales	$	47,339	$	707,435	$	43,258	$	572,196
	Gross profit		9,436		141,012		7,839		103,697
	Income from operations		2,747		41,048		1,754		23,207
	Net income		1,245		18,612		109		1,438

INTANGIBLE_ASSETS_Tables

INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2015
Components of Intangible Assets	Intangible assets consist of the following (in thousands):
		March 31, 2015							December 31, 2014
		Gross		Accumulated			Net		Gross		Accumulated			Net
				Amortization							Amortization
	Goodwill	$	18,101	$	—		$	18,101	$	18,101	$	—		$	18,101
	Indefinite-lived intangible assets:
	Trade names		7,616		—			7,616		7,616		—			7,616
	Finite-lived intangible assets:
	Licenses		15,847		(8,121	)		7,726		15,847		(8,007	)		7,840
	Trade names		29,724		(5,097	)		24,627		29,768		(4,568	)		25,200
	Customer relationships		50,823		(7,762	)		43,061		50,823		(6,754	)		44,069
	Other		1,202		(482	)		720		1,202		(431	)		771
	Total	$	123,313	$	(21,462	)	$	101,851	$	123,357	$	(19,760	)	$	103,597

STOCK_COMPENSATION_Tables

STOCK COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2015
Summary of Stock Option Activity and Related Information	A summary of the Company’s stock option activity and related information for the three months ended March 31, 2015 is as follows:
		Options			Weighted-		Weighted-		Aggregate
					average		average		intrinsic
					exercise		remaining		value
					price		contractual
							life (years)
	Options outstanding, January 1, 2015		2,326,627		$	14.19
	Exercises		(30,700	)		9.16
	Cancellations		(19,000	)		15.09
	Options outstanding, March 31, 2015		2,276,927			14.25		5.7	$	7,304
	Options exercisable, March 31, 2015		1,503,085		$	13.79		4.6	$	5,922

LOSS_PER_COMMON_SHARE_Tables

LOSS PER COMMON SHARE (Tables)	3 Months Ended
	Mar. 31, 2015
Calculations of Basic and Diluted Income (Loss) per Common Share	The calculations of basic and diluted loss per common share for the three month periods ended March 31, 2015 and 2014 are as follows:
		Three Months Ended
		March 31,
		2015			2014
		(in thousands, except per share amounts)
	Net loss – basic and diluted	$	(2,105	)	$	(2,929	)
	Weighted-average shares outstanding – basic and diluted		13,738			13,274
	Basic and diluted loss per common share	$	(0.15	)	$	(0.22	)

BUSINESS_SEGMENTS_Tables

BUSINESS SEGMENTS (Tables)	3 Months Ended
	Mar. 31, 2015
Segment Reporting Information	During the second quarter of 2014, the Company realigned its reportable segments into the three categories discussed above. The March 31, 2014 period presented has been recast to conform with the current period presentation.
		Three Months Ended
		March 31,
		2015			2014
		(in thousands)
	Net sales
	U.S. Wholesale	$	86,521		$	85,681
	International		25,365			28,137
	Retail Direct		5,771			4,593
	Total net sales	$	117,657		$	118,411
	Income (loss) from operations
	U.S. Wholesale	$	1,951		$	2,409
	International		(545	)		(206	)
	Retail Direct		(49	)		(299	)
	Unallocated corporate expenses		(3,528	)		(4,101	)
	Total loss from operations	$	(2,171	)	$	(2,197	)
	Depreciation and amortization
	U.S. Wholesale	$	2,187		$	2,269
	International		1,330			1,280
	Retail Direct		38			64
	Total depreciation and amortization	$	3,555		$	3,613
		March 31,			December 31,
		2015			2014
		(in thousands)
	Assets
	U.S. Wholesale	$	275,116		$	287,744
	International		118,345			128,055
	Retail Direct		436			535
	Unallocated/ Corporate/ Other		3,835			5,068
	Total assets	$	397,732		$	421,402

OTHER_Tables

OTHER (Tables)	3 Months Ended
	Mar. 31, 2015
Supplemental Cash Flow Information	Supplemental cash flow information
			Three Months Ended
			March 31,
			2015			2014
			(in thousands)
	Supplemental disclosure of cash flow information:
	Cash paid for interest		$	1,151		$	1,099
	Cash paid for taxes			6,018			4,340
	Non-cash investing activities:
	Translation adjustment		$	2,705		$	(690	)
Components of Accumulated Other Comprehensive Loss, Net	Components of accumulated other comprehensive loss, net
			Three Months Ended
			March 31,
			2015			2014
			(in thousands)
	Accumulated translation adjustment:
	Balance at beginning of period		$	(7,680	)	$	(2,944	)
	Translation gain (loss) during period			(2,705	)		690
	Balance at end of period		$	(10,385	)	$	(2,254	)
	Accumulated deferred losses on cash flow hedges:
	Balance at beginning of period		$	(18	)	$	(31	)
	Derivative fair value adjustment, net of taxes of $49 and $6 for the three months ended March 31, 2015 and 2014, respectively.			(54	)		9
	Balance at end of period		$	(72	)	$	(22	)
	Accumulated effect of retirement benefit obligations:
	Balance at beginning of period		$	(2,224	)	$	(745	)
	Amounts reclassified from accumulated other comprehensive loss: (1)
	Amortization of actuarial losses, net of taxes of $13 and $5 for the three months ended March 31, 2015 and 2014, respectively.			20			7
	Balance at end of period		$	(2,204	)	$	(738	)
	Total accumulated other comprehensive loss at end of period		$	(12,661	)	$	(3,014	)
	-1	Amounts are recorded in selling, general and administrative expense on the condensed consolidated statements of operations.

Recovered_Sheet1

Basis of Presentation and Summary Accounting Policies - Additional Information (Detail) (USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013
Schedule Of Significant Accounting Policies [Line Items]
Percentage of total annual net sales in the third and fourth quarters			60.00%	61.00%
Shipping and handling revenue	$409,000	$370,000
Derivative fair value adjustment gain (loss), net of tax	-54,000	9,000
Fair Value, Observable inputs, Level 2 | Accrued Expenses and Other Long-Term Liabilities
Schedule Of Significant Accounting Policies [Line Items]
Fair value of derivative instruments, liability	32,000		32,000
Fair Value, Observable inputs, Level 2 | Other Current Assets and Other Long-Term Assets
Schedule Of Significant Accounting Policies [Line Items]
Fair value of derivative instruments, asset	123,000		123,000
Interest Rate Swap Agreements
Schedule Of Significant Accounting Policies [Line Items]
Commencement date	2013-03
Expiry date	30-Jun-18
Derivative fair value adjustment gain (loss), net of tax	54,000	9,000
Interest Rate Swap Agreements | Cash Flow Hedging
Schedule Of Significant Accounting Policies [Line Items]
Notional amount	$24,100,000

Components_of_Inventory_Detail

Components of Inventory (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Inventory [Line Items]
Finished goods	$139,556	$134,564
Work in process	1,814	1,887
Raw materials	1,627	1,473
Total	$142,997	$137,924

Acquisitions_Additional_Inform

Acquisitions - Additional Information (Detail) (Thomas Plant)	0 Months Ended		3 Months Ended					3 Months Ended
In Millions, except Share data, unless otherwise specified	Jan. 15, 2014	Jan. 15, 2014	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2015	Jan. 15, 2014	Jan. 15, 2014	Mar. 31, 2014
	USD ($)	GBP (£)	USD ($)	USD ($)	GBP (£)	USD ($)	GBP (£)	Cost of Sales
								USD ($)
Business Acquisition [Line Items]
Percentage of equity interests acquired						100.00%	100.00%
Business acquisition cash paid	$61.50	£ 37.4
Business acquisition, issuance of common stock shares	581,432	581,432
Business acquisition, common stock value	9	5.5
Business acquisition, contingent cash consideration payable				9	5.5	9	5.5
Fair value of contingent consideration				3.1	2.1
Plan obligation, net funding				1.7
Business combination increase in fair value of inventory								0.5
Business combination related costs			0.9
Net loss			($2.10)
Basic and diluted loss per common share			($0.16)

Purchase_Price_of_Acquisition_

Purchase Price of Acquisition (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Business Acquisition [Line Items]
Cash	$61,302
Share consideration issued	8,382	[1]
Value of contingent consideration	2,488	[2]
Working capital adjustment	374	[3]
Total purchase price	$72,546
[1]	Share consideration issued is valued at the closing market price discounted to account for lack of marketability related to the lock up period as described in the share purchase agreement.
[2]	The value of contingent consideration represents the present value of the estimated payments related to the attainment of certain financial targets for the years 2014 through 2016, determined as of the date of the acquisition. The maximum undiscounted contingent consideration to be paid under the agreement is £5.5 million ($9.0 million).
[3]	A working capital adjustment was made in May 2014 as provided for in the share purchase agreement.

Purchase_Price_of_Acquisition_1

Purchase Price of Acquisition (Parenthetical) (Detail) (Thomas Plant)	Mar. 31, 2015	Mar. 31, 2015	Jan. 15, 2014	Jan. 15, 2014
In Millions, unless otherwise specified	USD ($)	GBP (£)	USD ($)	GBP (£)
Business Acquisition [Line Items]
Undiscounted deferred and contingent consideration, higher range	$9	£ 5.5	$9	£ 5.5

Investments_Additional_Informa

Investments - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Equity in earnings (losses), net of taxes	$288,000	($208,000)
Grupo Vasconia S.A.B.
Schedule of Equity Method Investments [Line Items]
Percentage of ownership in equity method investment	30.00%
Exchange rate at period end - MXN to USD	15.26		14.74
Increase (decrease) in equity method investment	1,700,000	11,000
Equity in earnings (losses), net of taxes	300,000	41,000
Fair value of investment	29,800,000		30,800,000
Carrying value of investment	27,600,000		27,800,000
Grupo Vasconia S.A.B. | Prepaid expenses and other current assets
Schedule of Equity Method Investments [Line Items]
Due from related party			33,000
Grupo Vasconia S.A.B. | Accrued expense
Schedule of Equity Method Investments [Line Items]
Due to related party	119,000
Grupo Vasconia S.A.B. | Transaction 02
Schedule of Equity Method Investments [Line Items]
Average daily exchange rate for period - MXN to USD	14.94	13.23
GS Internacional S/A
Schedule of Equity Method Investments [Line Items]
Percentage of ownership in equity method investment	40.00%
Equity in earnings (losses), net of taxes		213,000
Carrying value of investment	$0		$0

Summarized_Statement_of_Income

Summarized Statement of Income Information for Vasconia in USD and MXN (Detail)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2014
	USD ($)	USD ($)	Grupo Vasconia S.A.B.	Grupo Vasconia S.A.B.	Grupo Vasconia S.A.B.	Grupo Vasconia S.A.B.
			USD ($)	MXN	USD ($)	MXN
Schedule of Equity Method Investments [Line Items]
Net sales	$117,657	$118,411	$47,339	707,435	$43,258	572,196
Gross profit	44,908	44,332	9,436	141,012	7,839	103,697
Income from operations	-2,171	-2,197	2,747	41,048	1,754	23,207
Net income	($2,105)	($2,929)	$1,245	18,612	$109	1,438

Components_of_Intangible_Asset

Components of Intangible Assets (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Schedule of Intangible Assets Disclosure [Line Items]
Goodwill, Gross	$18,101	$18,101
Goodwill, Accumulated Amortization	0	0
Goodwill, Net	18,101	18,101
Indefinite-Lived Trade Names, Gross	7,616	7,616
Indefinite-Lived Trade Names, Accumulated Amortization	0	0
Indefinite-Lived Trade Names, Net	7,616	7,616
Intangible Assets, Gross (Including Goodwill)	123,313	123,357
Finite-Lived Intangible Assets, Accumulated Amortization	-21,462	-19,760
Intangible Assets, Net (Including Goodwill)	101,851	103,597
License
Schedule of Intangible Assets Disclosure [Line Items]
Finite-Lived Intangible Assets, Gross	15,847	15,847
Finite-Lived Intangible Assets, Accumulated Amortization	-8,121	-8,007
Finite-Lived Intangible Assets, Net	7,726	7,840
Trade Names
Schedule of Intangible Assets Disclosure [Line Items]
Finite-Lived Intangible Assets, Gross	29,724	29,768
Finite-Lived Intangible Assets, Accumulated Amortization	-5,097	-4,568
Finite-Lived Intangible Assets, Net	24,627	25,200
Customer Relationships
Schedule of Intangible Assets Disclosure [Line Items]
Finite-Lived Intangible Assets, Gross	50,823	50,823
Finite-Lived Intangible Assets, Accumulated Amortization	-7,762	-6,754
Finite-Lived Intangible Assets, Net	43,061	44,069
Other
Schedule of Intangible Assets Disclosure [Line Items]
Finite-Lived Intangible Assets, Gross	1,202	1,202
Finite-Lived Intangible Assets, Accumulated Amortization	-482	-431
Finite-Lived Intangible Assets, Net	$720	$771

Debt_Additional_Information_De

Debt - Additional Information (Detail)

Mar. 31, 2015

Dec. 31, 2014

Mar. 31, 2015

Mar. 31, 2015

Mar. 31, 2015

Dec. 31, 2014

Mar. 31, 2015

Mar. 31, 2015

Jan. 31, 2014

Mar. 31, 2015

Mar. 31, 2015

Mar. 31, 2015

Mar. 31, 2015

Mar. 31, 2015

Mar. 31, 2015

Mar. 31, 2015

Dec. 31, 2014

Mar. 31, 2015

Mar. 31, 2015

Mar. 31, 2015

USD ($)

USD ($)

Second Amended and Restated Credit Agreement

Amended and Restated Credit Agreement

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Revolving Credit Facility

Term Loan

Term Loan

Other than certain subordinated indebtedness

HSBC Facility

HSBC Facility

USD ($)

USD ($)

USD ($)

Multi-currency Borrowings

Amended and Restated Credit Agreement

Amended and Restated Credit Agreement

Amended and Restated Credit Agreement

Amended and Restated Credit Agreement

Amended and Restated Credit Agreement

Minimum

Minimum

Maximum

USD ($)

USD ($)

USD ($)

USD ($)

CNY

USD ($)

USD ($)

At any time any Term Loan is outstanding or at any time no Term Loan is outstanding and availability under the Revolving Credit Facility is less than $17.5 million and continuing until availability of at least $20.0 million is maintained for three consecutive months, the Company is required to maintain a minimum fixed charge coverage ratio of 1.10 to 1.00 for each of four consecutive fiscal quarter periods.

At each fiscal quarter end in 2015

At each fiscal quarter end thereafter; provided that for any fiscal quarter ending on September 30 of any year, the maximum Senior Leverage Ratio specified above shall be increased by an additional 0.25:1.00

Amended and Restated Credit Agreement

USD ($)

Debt Instrument [Line Items]

Credit facility, maturity date

2019-01

Credit facility, maximum borrowing capacity

$175,000,000

$40,000,000

$35,500,000

$2,900,000

18,000,000

New Term Loan facility

50,000,000

Open letters of credit

1,900,000

2,300,000

Outstanding borrowing under credit facility

480,000

765,000

85,300,000

92,700,000

42,500,000

45,000,000

480,000

3,000,000

Availability under revolving credit facility

55,400,000

Credit facility, maximum borrowing capacity terms

The borrowing capacity under the Revolving Credit Facility depends, in part, on eligible levels of accounts receivable and inventory that fluctuate regularly and certain trademark values based upon periodic appraisals, and may be lower in the first and second quarters when the Company's inventory level is lower due to seasonality.

Percentage of capital stock of foreign subsidiaries pledged as collateral

65.00%

Interest rates on outstanding borrowings

2.13%

4.69%

6.28%

6.28%

Percentage of line of credit facility unused capacity commitment fee

0.38%

Credit facility terms

The Credit Agreement provides for customary restrictions and events of default. Restrictions include limitations on additional indebtedness, acquisitions, investments and payment of dividends, among other things. Further, the Credit Agreement provides that at any time any Term Loan is outstanding or at any time no Term Loan is outstanding and availability under the Revolving Credit Facility is less than $17.5 million and continuing until availability of at least $20.0 million is maintained for three consecutive months, the Company is required to maintain a minimum fixed charge coverage ratio of 1.10 to 1.00 for each of four consecutive fiscal quarter periods. The Credit Agreement also provides that when the Term Loan is outstanding, the Company is required to maintain a Senior Leverage Ratio within defined parameters not to exceed 4.00 to 1.00 for each fiscal quarter ending during 2015; and 3.25 to 1.00 for each fiscal quarter ending thereafter.

Minimum availability under revolving credit to maintain minimum fixed charge ratio for four consecutive months

17,500,000

Minimum availability under revolving credit to maintain minimum fixed charge ratio for three consecutive months

$20,000,000

Fixed charge coverage ratio minimum

110.00%

Senior leverage ratio

400.00%

Increase in senior leverage ratio

325.00%

Summary_of_Stock_Option_Detail

Summary of Stock Option (Detail) (USD $)	3 Months Ended
	Mar. 31, 2015
Options
Beginning balance	2,326,627
Exercises	-30,700
Cancellations	-19,000
Ending balance	2,276,927
Options exercisable at End of Period	1,503,085
Weighted-average exercise price
Beginning balance	$14.19
Exercises	$9.16
Cancellations	$15.09
Ending balance	$14.25
Options exercisable at End of Period	$13.79
Weighted-average remaining contractual life (years)
Options outstanding, Ending balance	5 years 8 months 12 days
Options exercisable, Ending balance	4 years 7 months 6 days
Aggregate intrinsic value
Options outstanding, end of period	$7,304
Options exercisable, end of period	$5,922

Stock_Compensation_Additional_

Stock Compensation - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of stock options exercised	$163,500	$668,300
Unrecognized stock option compensation cost	4,400,000
Weighted-average recognition period	2 years 4 months 24 days
Stock compensation expense	750,000	726,000
Stock compensation expense, stock option	597,000	648,000
Stock compensation expense, restricted share	100,000	78,000
Stock compensation expense, stock awards granted in 2015	53,000
Options available for grant in period	199,022
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average recognition period	7 months 6 days
Restricted stock granted in period	1,471
Restricted stock vesting period	3 months
Fair value of restricted stock at weighted average grant date	$15.65
Unrecognized restricted stock compensation cost	$140,000

Calculations_of_Basic_and_Dilu

Calculations of Basic and Diluted Loss per Common Share (Detail) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share Disclosure [Line Items]
Net loss - basic and diluted	($2,105)	($2,929)
Weighted-average shares outstanding - basic and diluted	13,738	13,274
Basic and diluted loss per common share	($0.15)	($0.22)

Loss_per_Common_Share_Addition

Loss per Common Share - Additional Information (Detail) (Options Held)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Options Held
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Antidilutive Securities Excluded from Computation of Diluted Income (Loss) Per Common Share	2,276,927	2,361,437

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail) (USD $)	3 Months Ended
	Mar. 31, 2015
Income Tax Examination [Line Items]
Gross liability for tax and interest positions	$475,000
Reduction in income tax liability if tax positions sustained	$313,000
Income tax examination years description	The Company is no longer subject to U.S. Federal income tax examinations for the years prior to 2010.
State Tax Authority | Minimum
Income Tax Examination [Line Items]
Income tax examination year	2010
State Tax Authority | Maximum
Income Tax Examination [Line Items]
Income tax examination year	2013

Business_Segments_Additional_I

Business Segments - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2015
	Segment
Segment Reporting Information [Line Items]
Number of reportable business segment	3

Segment_Reporting_Information_

Segment Reporting Information (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Segment Reporting Information [Line Items]
Net sales	$117,657	$118,411
Depreciation and amortization	3,555	3,613
Income(loss) from operations	-2,171	-2,197
Assets	397,732		421,402
Unallocated corporate expenses
Segment Reporting Information [Line Items]
Income(loss) from operations	-3,528	-4,101
Assets	3,835		5,068
U.S. Wholesale
Segment Reporting Information [Line Items]
Net sales	86,521	85,681
Depreciation and amortization	2,187	2,269
U.S. Wholesale | Operating Segments
Segment Reporting Information [Line Items]
Income(loss) from operations	1,951	2,409
Assets	275,116		287,744
International
Segment Reporting Information [Line Items]
Net sales	25,365	28,137
Depreciation and amortization	1,330	1,280
International | Operating Segments
Segment Reporting Information [Line Items]
Income(loss) from operations	-545	-206
Assets	118,345		128,055
Retail Direct
Segment Reporting Information [Line Items]
Net sales	5,771	4,593
Depreciation and amortization	38	64
Retail Direct | Operating Segments
Segment Reporting Information [Line Items]
Income(loss) from operations	-49	-299
Assets	$436		$535

Other_Additional_Information_D

Other - Additional Information (Detail) (USD $)	3 Months Ended		0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 04, 2015
Other [Line Items]
Quarterly dividend declared	$0.04	$0.04
Dividend Declared
Other [Line Items]
Dividend declaration date			4-Mar-15
Quarterly dividend declared			$0.04
Dividend payable date			15-May-15
Dividend declared, date of record			1-May-15
Dividend payable	$520,000

Supplemental_Cash_Flow_Informa

Supplemental Cash Flow Information (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Supplemental disclosure of cash flow information:
Cash paid for interest	$1,151	$1,099
Cash paid for taxes	6,018	4,340
Non-cash investing activities:
Translation adjustment	$2,705	($690)

Components_of_Accumulated_Othe

Components of Accumulated Other Comprehensive Loss, Net (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014		Dec. 31, 2014
Accumulated translation adjustment:
Balance at beginning of period	($7,680)		($2,944)
Translation gain (loss) during period	-2,705		690
Balance at end of period	-10,385		-2,254
Accumulated deferred losses on cash flow hedges:
Balance at beginning of period	-18		-31
Derivative fair value adjustment, net of taxes of $49 and $6 for the three months ended March 31, 2015 and 2014, respectively.	-54		9
Balance at end of period	-72		-22
Accumulated effect of retirement benefit obligations:
Balance at beginning of period	-2,224		-745
Amounts reclassified from accumulated other comprehensive loss
Amortization of actuarial losses, net of taxes of $13 and $5 for the three months ended March 31, 2015 and 2014, respectively.	20	[1]	7	[1]
Balance at end of period	-2,204		-738
Total accumulated other comprehensive loss at end of period	($12,661)		($3,014)		($9,922)
[1]	Amounts are recorded in selling, general and administrative expense on the condensed consolidated statements of operations.

Components_of_Accumulated_Othe1

Components of Accumulated Other Comprehensive Loss, Net (Parenthetical) (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Derivative fair value adjustment, tax	$49	$6
Amortization of actuarial losses, taxes	$13	$5