Lifetime Brands (LCUT) 10-Q 9 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	Apr. 30, 2017
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Trading Symbol	LCUT
Entity Registrant Name	LIFETIME BRANDS, INC
Entity Central Index Key	874,396
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		14,575,748

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
CURRENT ASSETS
Cash and cash equivalents	$ 6,289	$ 7,883
Accounts receivable, less allowances of $4,545 at March 31, 2017 and $5,725 at December 31, 2016	61,756	104,556
Inventory (Note A)	154,188	135,212
Prepaid expenses and other current assets	9,837	8,796
TOTAL CURRENT ASSETS	232,070	256,447
PROPERTY AND EQUIPMENT, net	19,891	21,131
INVESTMENTS (Note B)	24,331	22,712
INTANGIBLE ASSETS, net (Note C)	88,069	89,219
DEFERRED INCOME TAXES (Note H)	8,473	8,459
OTHER ASSETS	1,813	1,886
TOTAL ASSETS	374,647	399,854
CURRENT LIABILITIES
Current maturity of Credit Agreement Term Loan (Note D)	6,890	9,343
Short term loan	233	113
Accounts payable	26,569	29,698
Accrued expenses	31,145	45,212
Income taxes payable (Note H)	5,525	6,920
TOTAL CURRENT LIABILITIES	70,362	91,286
DEFERRED RENT & OTHER LONG-TERM LIABILITIES	17,871	18,973
DEFERRED INCOME TAXES (Note H)	5,778	5,666
REVOLVING CREDIT FACILITY (Note D)	81,933	86,201
STOCKHOLDERS' EQUITY
Preferred stock, $1.00 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: 50,000,000 at March 31, 2017 and December 31, 2016; shares issued and outstanding: 14,571,748 at March 31, 2017 and 14,555,936 at December 31, 2016	146	146
Paid-in capital	174,573	173,600
Retained earnings	58,979	60,981
Accumulated other comprehensive loss (Note K)	(34,995)	(36,999)
TOTAL STOCKHOLDERS' EQUITY	198,703	197,728
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 374,647	$ 399,854

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Accounts receivable, allowances	$ 4,545	$ 5,725
Preferred stock, par value	$ 1	$ 1
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	14,571,748	14,555,936
Common stock, shares outstanding	14,571,748	14,555,936
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 Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net sales	$ 113,356	$ 110,925
Cost of sales	69,415	70,374
Gross margin	43,941	40,551
Distribution expenses	13,433	13,317
Selling, general and administrative expenses	32,382	31,808
Restructuring expenses	0	641
Loss from operations	(1,874)	(5,215)
Interest expense (Note D)	(941)	(1,193)
Loss before income taxes and equity in earnings	(2,815)	(6,408)
Income tax benefit (Note H)	944	2,270
Equity in earnings (losses), net of taxes (Note B)	540	(150)
NET LOSS	$ (1,331)	$ (4,288)
BASIC LOSS PER COMMON SHARE (NOTE G)	$ (0.09)	$ (0.31)
DILUTED LOSS PER COMMON SHARE (NOTE G)	(0.09)	(0.31)
Cash dividends declared per common share	$ 0.0425	$ 0.0425

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net loss	$ (1,331)	$ (4,288)
Other comprehensive income (loss), net of taxes:
Translation adjustment	1,976	(1,679)
Derivative fair value adjustment	13	(43)
Effect of retirement benefit obligations	15	14
Other comprehensive income (loss), net of taxes	2,004	(1,708)
Comprehensive income (loss)	$ 673	$ (5,996)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
OPERATING ACTIVITIES
Net loss	$ (1,331)	$ (4,288)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	3,286	3,484
Amortization of financing costs	217	162
Deferred rent	(140)	20
Deferred income taxes		113
Stock compensation expense	804	803
Undistributed equity in (earnings) losses, net	(540)	150
Changes in operating assets and liabilities (excluding the effects of business acquisitions)
Accounts receivable	43,044	15,733
Inventory	(18,648)	(3,510)
Prepaid expenses, other current assets and other assets	(1,073)	(2,546)
Accounts payable, accrued expenses and other liabilities	(18,135)	(10,508)
Income taxes receivable	(132)	(3,561)
Income taxes payable	(1,373)	(4,872)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	5,979	(8,820)
INVESTING ACTIVITIES
Purchases of property and equipment	(373)	(761)
NET CASH USED IN INVESTING ACTIVITIES	(373)	(761)
FINANCING ACTIVITIES
Proceeds from Revolving Credit Facility	66,298	58,392
Repayments of Revolving Credit Facility	(70,620)	(46,813)
Repayment of Credit Agreement Term Loan	(2,500)	(2,500)
Proceeds from Short Term Loan	119
Payments on Short Term Loan		(117)
Payment of financing costs	(29)
Payments for capital leases		(16)
Proceeds from exercise of stock options	92	115
Cash dividends paid (Note K)	(613)	(594)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	(7,253)	8,467
Effect of foreign exchange on cash	53	(139)
DECREASE IN CASH AND CASH EQUIVALENTS	(1,594)	(1,253)
Cash and cash equivalents at beginning of period	7,883	7,131
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 6,289	$ 5,878

BASIS OF PRESENTATION AND SUMMA

BASIS OF PRESENTATION AND SUMMARY ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2017
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. 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 S-X. 10-K The Company’s business and working capital needs are highly seasonal, with a majority of sales occurring in the third and fourth quarters. In 2016 and 2015, net sales for the third and fourth quarters accounted for 61% and 59% of total annual net sales, respectively. In anticipation of the pre-holiday 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 primarily to retail customers in sales transactions are included in net sales and amounted to $561,000 and $536,000 for the three months ended March 31, 2017 and 2016, 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 wholesale 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 Accounts receivable The Company periodically reviews the collectability of its accounts receivable and establishes allowances for estimated losses that could result from the inability of its customers to make required payments. A considerable amount of judgment is required to assess the ultimate realization of these receivables including assessing the initial and on-going The Company also maintains an allowance for anticipated customer deductions. The allowances for deductions are primarily based on contracts with customers. However, in certain cases the Company does not have a formal contract and, therefore, customer deductions are non-contractual. non-contractual Receivable purchase agreement The Company has an uncommitted Receivables Purchase Agreement with HSBC Bank USA, National Association (“HSBC”), as Purchaser (the “Receivables Purchase Agreement”). The sale of accounts receivable, under the Company’s Receivable Purchase Agreement with HSBC, are reflected as a reduction of accounts receivable in the Company’s condensed consolidated balance sheet at the time of sale and any related expense is included in selling, general and administrative expenses in the Company’s condensed consolidated statements of operations. Pursuant to this agreement, the Company sold to HSBC $21.6 million of Receivables during the three months ended March 31, 2017. A charge of $67,000 related to the sale of the Receivables is included in selling, general and administrative expenses in the condensed consolidated statement of operations for the three months ended March 31, 2017. 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 The components of inventory are as follows: March 31, December 31, (in thousands) Finished goods $ 151,513 $ 132,564 Work in process 1,551 1,521 Raw materials 1,124 1,127 Total $ 154,188 $ 135,212 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. Goodwill, intangible assets and long-lived assets Goodwill and intangible assets deemed to have indefinite lives are not amortized but, instead, are subject to an annual impairment assessment. Additionally, if events or conditions were to indicate the carrying value of a reporting unit may not be recoverable, the Company would evaluate goodwill and other intangible assets for impairment at that time. As it relates to the goodwill assessment, the Company first assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step Intangibles – Goodwill and Other two-step two-step two-step Long-lived assets, including intangible assets deemed to have finite lives, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Impairment indicators include, among other conditions, cash flow deficits, historic or anticipated declines in revenue or operating profit or material adverse changes in the business climate that indicate that the carrying amount of an asset may be impaired. When impairment indicators are present, the recoverability of the asset is measured by comparing the carrying value of the asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the asset is considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the asset exceeds the fair value of the asset. Employee healthcare The Company self-insures certain portions of its health insurance plans. 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. Restructuring expenses Costs associated with restructuring activities are recorded at fair value when a liability has been incurred. A liability has been incurred at the point of closure for any remaining operating lease obligations and at the communication date for severance. In December 2015, the Company commenced an in-depth Adoption of new accounting pronouncements Effective January 1, 2017, the Company adopted Accounting Standard Update (“ASU”) 2016-09, Improvements to Employee Share-Based Payment Accounting. 2016-09, Effective January 1, 2017, the Company adopted ASU 2015-11, Inventory: Simplifying the Measurement of Inventory first-in, first-out Accounting pronouncements to be adopted in future periods In January 2017, the Financial Accounting Standards Board (“FASB”) issued ASU 2017-04, Simplifying the Test for Goodwill Impairment In January 2017, the FASB issued ASU 2017-01, Clarifying the Definition of a Business In August 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-15, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments In February 2016, the FASB issued ASU 2016-02, Leases, right-of-use In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) The Company intends to adopt the new guidance provided under Topic 606 on January 1, 2018, with a cumulative-effect adjustment to opening retained earnings under the modified retrospective approach. Currently, the Company recognizes revenue when title passes to customers and incentives and promotions are recognized as a reduction of revenue, which generally reflects the consideration the Company expects to receive in exchange for the goods sold. The Company’s implementation of this ASU includes the evaluation of its customer agreements to identify terms or conditions that could be considered a performance obligation such that, if material to the terms of the contract, consideration would be allocated to the performance obligation and could accelerate or defer the timing of recognizing revenue. The Company continues to evaluate the presentation of certain contract costs (whether presented gross or offset against revenues) and its principal versus agent arrangements. The Company’s evaluation of the new guidance provided under Topic 606 is not yet complete; however, based on the nature of the Company’s primary revenue sources and current policies, the Company does not expect a significant change in the timing and presentation of recognizing its revenue.

INVESTMENTS

INVESTMENTS	3 Months Ended
	Mar. 31, 2017
INVESTMENTS	NOTE B —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, 2017 and 2016 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 18.73 and MXN 20.70 at March 31, 2017 and December 31, 2016, 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 20.30 and MXN 18.02 during the three months ended March 31, 2017 and 2016, respectively. The effect of the translation of the Company’s investment resulted in an increase to the investment of $1.3 million and a decrease to the investment of $0.6 million during the three months ended March 31, 2017 and 2016, respectively (also see Note K). These translation effects are recorded in accumulated other comprehensive income (loss). Included within prepaid expenses and other current assets at March 31, 2017 and December 31, 2016 are amounts due from Vasconia of $59,000 and $83,000, respectively. Included within accrued expenses and accounts payable at March 31, 2017 and December 31, 2016 are amounts due to Vasconia of $116,000 and $220,000, respectively. A summarized statement of income information for Vasconia in USD and MXN is as follows: Three Months Ended March 31, 2017 2016 (in thousands) USD MXN USD MXN Net sales $ 36,823 $ 747,495 $ 37,325 $ 672,578 Gross profit 7,853 159,421 5,418 97,634 Income from operations 2,430 49,329 923 16,633 Net income 1,234 25,043 220 3,959 The Company recorded equity in earnings of Vasconia, net of taxes, of $0.5 million, net of tax, for the three months ended March 31, 2017 and equity in losses, net of taxes, of $0.2 million, net of tax, for the three months ended March 31, 2016. Equity in earnings (losses) for the three months ended March 31, 2017 and 2016, includes deferred tax benefit of $0.2 million and deferred tax expense of $0.2 million, respectively, due to the requirement to record tax benefits for foreign currency translation gains and losses through other comprehensive income (loss), with a corresponding adjustment to deferred tax liabilities. As of March 31, 2017 and December 31, 2016, the fair value (based upon Vasconia’s quoted stock price) of the Company’s investment in Vasconia was $32.1 million and $29.0 million, respectively. The carrying value of the Company’s investment in Vasconia was $24.1 million and $22.5 million as of March 31, 2017 and December 31, 2016, respectively. The Company evaluated the disclosure requirements of ASC Topic No. 860, Transfers and Servicing

INTANGIBLE ASSETS

INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2017
INTANGIBLE ASSETS	NOTE C — INTANGIBLE ASSETS Intangible assets consist of the following (in thousands): March 31, 2017 December 31, 2016 Gross Accumulated Amortization Net Gross Accumulated Net Goodwill $ 14,347 $ — $ 14,347 $ 14,201 $ — $ 14,201 Indefinite-lived intangible assets: Trade names 7,616 — 7,616 7,616 — 7,616 Finite-lived intangible assets: Licenses 15,847 (9,035 ) 6,812 15,847 (8,919 ) 6,928 Trade names 31,295 (8,932 ) 22,363 31,150 (8,286 ) 22,864 Customer relationships 49,757 (13,226 ) 36,531 49,372 (12,188 ) 37,184 Other 1,135 (735 ) 400 1,266 (840 ) 426 Total $ 119,997 $ (31,928 ) $ 88,069 $ 119,452 $ (30,233 ) $ 89,219

DEBT

DEBT	3 Months Ended
	Mar. 31, 2017
DEBT	NOTE D— 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. At March 31, 2017 and December 31, 2016, borrowings outstanding under the Revolving Credit Facility were $81.9 million and $86.2 million, respectively, and open letters of credit were $2.8 million and $2.4 million, respectively. At March 31, 2017, availability under the Revolving Credit Facility was approximately $53.5 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, 2017 and December 31, 2016, $7.0 million and $9.5 million, respectively, was outstanding under the Term Loan. At March 31, 2017 and December 31, 2016, unamortized debt issuance costs were $110,000 and $157,000, respectively. In April 2017, the Company repaid the $7.0 million outstanding balance under the Term Loan. Interest rates on outstanding borrowings at March 31, 2017 ranged from 2.5% to 5.3%. 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 1.20 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 3.75 to 1.00 for each fiscal quarter ending thereafter. For any fiscal quarter of the Company ending on September 30 th Pursuant to the Credit Agreement, as of March 31, 2017, the maximum additional permitted indebtedness other than certain subordinated indebtedness was $92.6 million. The Company was in compliance with the financial covenants of the Credit Agreement at March 31, 2017.

DERIVATIVES

DERIVATIVES	3 Months Ended
	Mar. 31, 2017
DERIVATIVES	NOTE E- The Company is a party to interest rate swap agreements with an aggregate notional value of $12.3 million and $14.0 million, at March 31, 2017 and December 31, 2016, respectively, 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 these periods. 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 income (loss). The Company has also entered into certain foreign exchange contracts, primarily to offset the earnings impact related to fluctuations in foreign currency exchange rates associated with sales and inventory purchases denominated in foreign currencies. The aggregate gross notional values of foreign exchange contracts at March 31, 2017 and December 31, 2016 were $58.4 million and $38.3 million, respectively. These foreign exchange contracts have not been designated as hedges as required in order to apply hedge accounting. The changes in the fair values of these contracts are recorded in earnings immediately. The fair values of the Company’s derivative financial instruments included in the condensed consolidated balance sheets are presented as follows (in thousands): Derivatives designated as hedging instruments Balance Sheet Location March 31, 2017 December 31, Interest rate swaps Prepaid Expenses $ 16 $ — Accrued Expenses — 4 Deferred rent & other long-term — 3 Derivatives not designated as hedging instruments Balance Sheet Location March 31, 2017 December 31, Foreign exchange contracts Prepaid expenses and other current assets $ 636 $ 924 The fair values of the derivatives have been obtained from the counterparties to the agreements and were based on Level 2 observable inputs using proprietary models and estimates about relevant future market conditions. The amounts of the gains and losses related to the Company’s derivative financial instruments designated as hedging instruments are recognized in other comprehensive income (loss) as follows (in thousands): Three Months Ended March 31, Derivatives designated as hedging instruments 2017 2016 Interest rate swaps $ 13 $ (43 ) No amounts recorded in accumulated other comprehensive income (loss) are expected to be reclassified to interest expense in the next twelve months. The amounts of the gains and losses related to the Company’s derivative financial instruments not designated as hedging instruments are recognized in earnings as follows (in thousands): Three Months Ended March 31, Derivatives not designated as hedging instruments Location of Gain or (Loss) 2017 2016 Foreign exchange contracts Selling, general and administrative expense $ (189 ) $ 552

STOCK COMPENSATION

STOCK COMPENSATION	3 Months Ended
	Mar. 31, 2017
STOCK COMPENSATION	NOTE F STOCK COMPENSATION Option Awards A summary of the Company’s stock option activity and related information for the three months ended March 31, 2017 is as follows: Options Weighted- Weighted- Aggregate Options outstanding, January 1, 2017 1,775,400 $ 13.44 Grants 75,000 16.60 Exercises (6,000 ) 15.30 Cancellations (11,200 ) 16.06 Options outstanding, March 31, 2017 1,833,200 13.54 4.6 $ 12,092,000 Options exercisable, March 31, 2017 1,463,967 $ 12.84 3.9 $ 10,695,000 The aggregate intrinsic value in the table above represents the total pre-tax in-the-money The total intrinsic value of stock options exercised for the three month periods ended March 31, 2017 and 2016 was $27,000 and $275,000, 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, 2017, before the effect of income taxes, was $1.5 million and is expected to be recognized over a weighted-average period of 2.0 years. Restricted Stock A summary of the Company’s restricted stock activity and related information for the three months ended March 31, 2017 is as follows: Restricted Weighted- Non-vested 161,824 $ 15.35 Grants 10,000 16.60 Vested (1,674 ) 12.52 Cancellations (188 ) 14.84 Non-vested 169,962 $ 15.45 Total unrecognized compensation expense remaining $ 1,793,000 Weighted-average years expected to be recognized over 2.7 The total fair value of restricted stock that vested during the three months ended March 31, 2017 was $28,000. Performance shares Each performance award represents the right to receive up to 150% of the target number of shares of common stock. The number of shares of common stock earned will be determined based on the attainment of specified performance goals by the end of the performance period, as determined by the Compensation Committee. The shares are subject to the terms and conditions of the Plan. A summary of the Company’s performance-based award activity and related information for the three months ended March 31, 2017 is as follows: Performance- (1) Weighted- Non-vested 145,962 $ 15.32 Cancellations (250 ) 14.84 Non-vested 145,712 $ 15.32 Total unrecognized compensation expense remaining $ 1,143,000 Weighted-average years expected to be recognized over 1.5 (1) Represents the target number of shares to be issued for each performance-based award. The Company recognized total stock compensation expense of $0.8 million for the three months ended March 31, 2017, of which $0.4 million represents stock option compensation expense and $0.4 million represents restricted stock and performance based compensation expense. For the three months ended March 31, 2016, the Company recognized total stock compensation expense of $0.8 million, of which $0.5 million represents stock option compensation expense, $0.3 million represents restricted stock and performance based compensation expense and $32,000 represents stock awards granted in 2016. At March 31, 2017, there were 341,115 shares available for awards that could be granted under the Company’s Amended and Restated 2000 Long-Term Incentive Plan.

LOSS PER COMMON SHARE

LOSS PER COMMON SHARE	3 Months Ended
	Mar. 31, 2017
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, 2017 and 2016 are as follows: Three Months Ended 2017 2016 (in thousands, except per share amounts) Net loss– basic and diluted $ (1,331 ) $ (4,288 ) Weighted-average shares outstanding – basic and diluted 14,396 13,963 Basic and diluted loss per common share $ (0.09 ) $ (0.31 ) The computation of diluted loss per common share for the three months ended March 31, 2017 excludes options to purchase 1,833,200 shares and 169,962 restricted shares. The computation of diluted loss per common share for the three months ended March 31, 2016 excludes options to purchase 2,187,652 shares and 101,859 restricted shares. These shares were excluded due to their antidilutive effects.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2017
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, 2017 is a gross liability of tax and interest of $115,000. The Company believes that $54,000 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 2014. At March 31, 2017, the periods subject to examination for the Company’s major state jurisdictions are the years ended 2013 through 2016. 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 month periods ended March 31, 2017 and 2016.

BUSINESS SEGMENTS

BUSINESS SEGMENTS	3 Months Ended
	Mar. 31, 2017
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. 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 and Lifetime Sterling 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 are 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. Three Months Ended 2017 2016 (in thousands) Net sales U.S. Wholesale $ 87,392 $ 82,268 International 21,228 23,673 Retail Direct 4,736 4,984 Total net sales $ 113,356 $ 110,925 Income (loss) from operations U.S. Wholesale $ 2,235 $ (1,789 ) International (1,157 ) 395 Retail Direct 116 37 Unallocated corporate expenses (3,068 ) (3,858 ) Loss from operations $ (1,874 ) $ (5,215 ) Depreciation and amortization U.S. Wholesale $ 2,302 $ 2,179 International 951 1,270 Retail Direct 33 35 Total depreciation and amortization $ 3,286 $ 3,484 March 31, December 31, (in thousands) Assets U.S. Wholesale $ 260,454 $ 287,313 International 98,965 95,698 Retail Direct 466 501 Unallocated/ Corporate/ Other 14,762 16,342 Total assets $ 374,647 $ 399,854

CONTINGENCIES

CONTINGENCIES	3 Months Ended
	Mar. 31, 2017
CONTINGENCIES	NOTE J — CONTINGENCIES Wallace Silversmiths de Puerto Rico, Ltd. (“WSPR”), 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, WSPR 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 (“CERCLA”). In July 2011, WSPR received a letter from the EPA requesting access to the property that it leases from PRIDCO to conduct an environmental investigation, and the Company granted such access. In February 2013, the EPA requested access to conduct a further environmental investigation at the property. PRIDCO agreed to such access and the Company consented. EPA conducted a further investigation during 2013 and, in April 2015, notified the Company and PRIDCO that the results from vapor intrusion sampling may warrant implementation of measures to mitigate potential exposure to sub-slab sub-surface OU-1, in-situ in-situ Accordingly, based on the above uncertainties and variables, it is not possible at this time for the Company to estimate its share of liability, if any, related to this matter. However, in the event of one or more adverse determinations related to this matter, it is possible that the ultimate liability resulting from this matter and the impact on the Company’s results of operations could be material. 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 of this litigation, individually or collectively, would have a material adverse effect on the Company’s condensed consolidated financial position, results of operations or cash flows.

OTHER

OTHER	3 Months Ended
	Mar. 31, 2017
OTHER	NOTE K — OTHER Cash dividends On March 8, 2017, the Board of Directors declared a quarterly dividend of $0.0425 per share payable on May 15, 2017 to shareholders of record on May 1, 2017. On February 15, 2017, the Company paid dividends of $613,000 to shareholders of record on February 1, 2017. As of March 31, 2017, the Company accrued $680,000 for the payment of dividends. Supplemental cash flow information Three Months Ended March 31, 2017 2016 (in thousands) Supplemental disclosure of cash flow information: Cash paid for interest $ 787 $ 1,028 Cash paid for taxes 537 5,881 Non-cash Translation gain (loss) adjustment $ 1,976 $ (1,679 ) Components of accumulated other comprehensive loss, net Three Months Ended March 31, 2017 2016 (in thousands) Accumulated translation adjustment: Balance at beginning of period $ (35,644 ) $ (12,961 ) Translation gain (loss) during period 1,976 (1,679 ) Balance at end of period $ (33,668 ) $ (14,640 ) Accumulated deferred gains (losses) on cash flow hedges: Balance at beginning of period $ (3 ) $ (20 ) Derivative fair value adjustment, net of taxes of $9 and $29 for the three month periods ended March 31, 2017 and 2016, respectively. 13 (43 ) Balance at end of period $ 10 $ (63 ) Accumulated effect of retirement benefit obligations: Balance at beginning of period $ (1,352 ) $ (1,204 ) Amounts reclassified from accumulated other comprehensive loss: (1) Amortization of actuarial losses, net of taxes of $10 and $9 for the three month periods ended March 31, 2017 and 2016, respectively. 15 14 Balance at end of period $ (1,337 ) $ (1,190 ) Total accumulated other comprehensive loss at end of period $ (34,995 ) $ (15,893 ) (1) Amounts are recorded in selling, general and administrative expense on the condensed consolidated statements of operations.

BASIS OF PRESENTATION AND SUM18

BASIS OF PRESENTATION AND SUMMARY ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2017
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 S-X. 10-K The Company’s business and working capital needs are highly seasonal, with a majority of sales occurring in the third and fourth quarters. In 2016 and 2015, net sales for the third and fourth quarters accounted for 61% and 59% of total annual net sales, respectively. In anticipation of the pre-holiday
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 primarily to retail customers in sales transactions are included in net sales and amounted to $561,000 and $536,000 for the three months ended March 31, 2017 and 2016, 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 wholesale 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
Accounts receivable	Accounts receivable The Company periodically reviews the collectability of its accounts receivable and establishes allowances for estimated losses that could result from the inability of its customers to make required payments. A considerable amount of judgment is required to assess the ultimate realization of these receivables including assessing the initial and on-going The Company also maintains an allowance for anticipated customer deductions. The allowances for deductions are primarily based on contracts with customers. However, in certain cases the Company does not have a formal contract and, therefore, customer deductions are non-contractual. non-contractual
Receivable purchase agreement	Receivable purchase agreement The Company has an uncommitted Receivables Purchase Agreement with HSBC Bank USA, National Association (“HSBC”), as Purchaser (the “Receivables Purchase Agreement”). The sale of accounts receivable, under the Company’s Receivable Purchase Agreement with HSBC, are reflected as a reduction of accounts receivable in the Company’s condensed consolidated balance sheet at the time of sale and any related expense is included in selling, general and administrative expenses in the Company’s condensed consolidated statements of operations. Pursuant to this agreement, the Company sold to HSBC $21.6 million of Receivables during the three months ended March 31, 2017. A charge of $67,000 related to the sale of the Receivables is included in selling, general and administrative expenses in the condensed consolidated statement of operations for the three months ended March 31, 2017.
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 The components of inventory are as follows: March 31, December 31, (in thousands) Finished goods $ 151,513 $ 132,564 Work in process 1,551 1,521 Raw materials 1,124 1,127 Total $ 154,188 $ 135,212
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.
Goodwill, intangible assets and long-lived assets	Goodwill, intangible assets and long-lived assets Goodwill and intangible assets deemed to have indefinite lives are not amortized but, instead, are subject to an annual impairment assessment. Additionally, if events or conditions were to indicate the carrying value of a reporting unit may not be recoverable, the Company would evaluate goodwill and other intangible assets for impairment at that time. As it relates to the goodwill assessment, the Company first assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step Intangibles – Goodwill and Other two-step two-step two-step Long-lived assets, including intangible assets deemed to have finite lives, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Impairment indicators include, among other conditions, cash flow deficits, historic or anticipated declines in revenue or operating profit or material adverse changes in the business climate that indicate that the carrying amount of an asset may be impaired. When impairment indicators are present, the recoverability of the asset is measured by comparing the carrying value of the asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the asset is considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the asset exceeds the fair value of the asset.
Employee healthcare	Employee healthcare The Company self-insures certain portions of its health insurance plans. 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.
Restructuring expenses	Restructuring expenses Costs associated with restructuring activities are recorded at fair value when a liability has been incurred. A liability has been incurred at the point of closure for any remaining operating lease obligations and at the communication date for severance. In December 2015, the Company commenced an in-depth
Adoption of new accounting pronouncements	Adoption of new accounting pronouncements Effective January 1, 2017, the Company adopted Accounting Standard Update (“ASU”) 2016-09, Improvements to Employee Share-Based Payment Accounting. 2016-09, Effective January 1, 2017, the Company adopted ASU 2015-11, Inventory: Simplifying the Measurement of Inventory first-in, first-out
Accounting pronouncements to be adopted in future periods	Accounting pronouncements to be adopted in future periods In January 2017, the Financial Accounting Standards Board (“FASB”) issued ASU 2017-04, Simplifying the Test for Goodwill Impairment In January 2017, the FASB issued ASU 2017-01, Clarifying the Definition of a Business In August 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-15, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments In February 2016, the FASB issued ASU 2016-02, Leases, right-of-use In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) The Company intends to adopt the new guidance provided under Topic 606 on January 1, 2018, with a cumulative-effect adjustment to opening retained earnings under the modified retrospective approach. Currently, the Company recognizes revenue when title passes to customers and incentives and promotions are recognized as a reduction of revenue, which generally reflects the consideration the Company expects to receive in exchange for the goods sold. The Company’s implementation of this ASU includes the evaluation of its customer agreements to identify terms or conditions that could be considered a performance obligation such that, if material to the terms of the contract, consideration would be allocated to the performance obligation and could accelerate or defer the timing of recognizing revenue. The Company continues to evaluate the presentation of certain contract costs (whether presented gross or offset against revenues) and its principal versus agent arrangements. The Company’s evaluation of the new guidance provided under Topic 606 is not yet complete; however, based on the nature of the Company’s primary revenue sources and current policies, the Company does not expect a significant change in the timing and presentation of recognizing its revenue.

BASIS OF PRESENTATION AND SUM19

BASIS OF PRESENTATION AND SUMMARY ACCOUNTING POLICIES (Tables)	3 Months Ended
	Mar. 31, 2017
Components of Inventory	The components of inventory are as follows: March 31, December 31, (in thousands) Finished goods $ 151,513 $ 132,564 Work in process 1,551 1,521 Raw materials 1,124 1,127 Total $ 154,188 $ 135,212

INVESTMENTS (Tables)

INVESTMENTS (Tables)	3 Months Ended
	Mar. 31, 2017
Grupo Vasconia S.A.B.
Summarized Income Statement Information for Vasconia in USD and MXN	A summarized statement of income information for Vasconia in USD and MXN is as follows: Three Months Ended March 31, 2017 2016 (in thousands) USD MXN USD MXN Net sales $ 36,823 $ 747,495 $ 37,325 $ 672,578 Gross profit 7,853 159,421 5,418 97,634 Income from operations 2,430 49,329 923 16,633 Net income 1,234 25,043 220 3,959

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2017
Components of Intangible Assets	Intangible assets consist of the following (in thousands): March 31, 2017 December 31, 2016 Gross Accumulated Amortization Net Gross Accumulated Net Goodwill $ 14,347 $ — $ 14,347 $ 14,201 $ — $ 14,201 Indefinite-lived intangible assets: Trade names 7,616 — 7,616 7,616 — 7,616 Finite-lived intangible assets: Licenses 15,847 (9,035 ) 6,812 15,847 (8,919 ) 6,928 Trade names 31,295 (8,932 ) 22,363 31,150 (8,286 ) 22,864 Customer relationships 49,757 (13,226 ) 36,531 49,372 (12,188 ) 37,184 Other 1,135 (735 ) 400 1,266 (840 ) 426 Total $ 119,997 $ (31,928 ) $ 88,069 $ 119,452 $ (30,233 ) $ 89,219

DERIVATIVES (Tables)

DERIVATIVES (Tables)	3 Months Ended
	Mar. 31, 2017
Fair Values of Derivative Financial Instruments Included in Condensed Consolidated Balance Sheets	The fair values of the Company’s derivative financial instruments included in the condensed consolidated balance sheets are presented as follows (in thousands): Derivatives designated as hedging instruments Balance Sheet Location March 31, 2017 December 31, Interest rate swaps Prepaid Expenses $ 16 $ — Accrued Expenses — 4 Deferred rent & other long-term — 3 Derivatives not designated as hedging instruments Balance Sheet Location March 31, 2017 December 31, Foreign exchange contracts Prepaid expenses and other current assets $ 636 $ 924
Gains and Losses Related to Derivative Financial Instruments Designated as Hedging Instruments	The amounts of the gains and losses related to the Company’s derivative financial instruments designated as hedging instruments are recognized in other comprehensive income (loss) as follows (in thousands): Three Months Ended March 31, Derivatives designated as hedging instruments 2017 2016 Interest rate swaps $ 13 $ (43 )
Gains and Losses Related to Derivative Financial Instruments Not Designated as Hedging Instruments	The amounts of the gains and losses related to the Company’s derivative financial instruments not designated as hedging instruments are recognized in earnings as follows (in thousands): Three Months Ended March 31, Derivatives not designated as hedging instruments Location of Gain or (Loss) 2017 2016 Foreign exchange contracts Selling, general and administrative expense $ (189 ) $ 552

STOCK COMPENSATION (Tables)

STOCK COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2017
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, 2017 is as follows: Options Weighted- Weighted- Aggregate Options outstanding, January 1, 2017 1,775,400 $ 13.44 Grants 75,000 16.60 Exercises (6,000 ) 15.30 Cancellations (11,200 ) 16.06 Options outstanding, March 31, 2017 1,833,200 13.54 4.6 $ 12,092,000 Options exercisable, March 31, 2017 1,463,967 $ 12.84 3.9 $ 10,695,000
Summary of Restricted Stock Activity	A summary of the Company’s restricted stock activity and related information for the three months ended March 31, 2017 is as follows: Restricted Weighted- Non-vested 161,824 $ 15.35 Grants 10,000 16.60 Vested (1,674 ) 12.52 Cancellations (188 ) 14.84 Non-vested 169,962 $ 15.45 Total unrecognized compensation expense remaining $ 1,793,000 Weighted-average years expected to be recognized over 2.7
Summary of Performance-based Award Activity	A summary of the Company’s performance-based award activity and related information for the three months ended March 31, 2017 is as follows: Performance- (1) Weighted- Non-vested 145,962 $ 15.32 Cancellations (250 ) 14.84 Non-vested 145,712 $ 15.32 Total unrecognized compensation expense remaining $ 1,143,000 Weighted-average years expected to be recognized over 1.5 (1) Represents the target number of shares to be issued for each performance-based award.

LOSS PER COMMON SHARE (Tables)

LOSS PER COMMON SHARE (Tables)	3 Months Ended
	Mar. 31, 2017
Calculations of Basic and Diluted Loss per Common Share	The calculations of basic and diluted loss per common share for the three month periods ended March 31, 2017 and 2016 are as follows: Three Months Ended 2017 2016 (in thousands, except per share amounts) Net loss– basic and diluted $ (1,331 ) $ (4,288 ) Weighted-average shares outstanding – basic and diluted 14,396 13,963 Basic and diluted loss per common share $ (0.09 ) $ (0.31 )

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	3 Months Ended
	Mar. 31, 2017
Segment Reporting Information	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 are 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. Three Months Ended 2017 2016 (in thousands) Net sales U.S. Wholesale $ 87,392 $ 82,268 International 21,228 23,673 Retail Direct 4,736 4,984 Total net sales $ 113,356 $ 110,925 Income (loss) from operations U.S. Wholesale $ 2,235 $ (1,789 ) International (1,157 ) 395 Retail Direct 116 37 Unallocated corporate expenses (3,068 ) (3,858 ) Loss from operations $ (1,874 ) $ (5,215 ) Depreciation and amortization U.S. Wholesale $ 2,302 $ 2,179 International 951 1,270 Retail Direct 33 35 Total depreciation and amortization $ 3,286 $ 3,484 March 31, December 31, (in thousands) Assets U.S. Wholesale $ 260,454 $ 287,313 International 98,965 95,698 Retail Direct 466 501 Unallocated/ Corporate/ Other 14,762 16,342 Total assets $ 374,647 $ 399,854

OTHER (Tables)

OTHER (Tables)	3 Months Ended
	Mar. 31, 2017
Supplemental Cash Flow Information	Supplemental cash flow information Three Months Ended March 31, 2017 2016 (in thousands) Supplemental disclosure of cash flow information: Cash paid for interest $ 787 $ 1,028 Cash paid for taxes 537 5,881 Non-cash Translation gain (loss) adjustment $ 1,976 $ (1,679 )
Components of Accumulated Other Comprehensive Loss, Net	Components of accumulated other comprehensive loss, net Three Months Ended March 31, 2017 2016 (in thousands) Accumulated translation adjustment: Balance at beginning of period $ (35,644 ) $ (12,961 ) Translation gain (loss) during period 1,976 (1,679 ) Balance at end of period $ (33,668 ) $ (14,640 ) Accumulated deferred gains (losses) on cash flow hedges: Balance at beginning of period $ (3 ) $ (20 ) Derivative fair value adjustment, net of taxes of $9 and $29 for the three month periods ended March 31, 2017 and 2016, respectively. 13 (43 ) Balance at end of period $ 10 $ (63 ) Accumulated effect of retirement benefit obligations: Balance at beginning of period $ (1,352 ) $ (1,204 ) Amounts reclassified from accumulated other comprehensive loss: (1) Amortization of actuarial losses, net of taxes of $10 and $9 for the three month periods ended March 31, 2017 and 2016, respectively. 15 14 Balance at end of period $ (1,337 ) $ (1,190 ) Total accumulated other comprehensive loss at end of period $ (34,995 ) $ (15,893 ) (1) Amounts are recorded in selling, general and administrative expense on the condensed consolidated statements of operations.

Basis of Presentation and Sum27

Basis of Presentation and Summary Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2015
Schedule Of Significant Accounting Policies [Line Items]
Percentage of total annual net sales in the third and fourth quarters			61.00%	59.00%
Shipping and handling revenue	$ 561,000	$ 536,000
Restructuring expenses	0	$ 641,000
Retained earnings	58,979,000		$ 60,981,000
Accounting Standards Update 2016-09
Schedule Of Significant Accounting Policies [Line Items]
Retained earnings			$ (46,000)
Receivables purchase agreement
Schedule Of Significant Accounting Policies [Line Items]
Sale of Receivable	21,600,000
Receivables purchase agreement | Selling, general and administrative expenses
Schedule Of Significant Accounting Policies [Line Items]
Charge related to sale of receivables	$ 67,000

Components of Inventory (Detail

Components of Inventory (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Inventory [Line Items]
Finished goods	$ 151,513	$ 132,564
Work in process	1,551	1,521
Raw materials	1,124	1,127
Total	$ 154,188	$ 135,212

Investments - Additional Inform

Investments - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2017USD ($)MXN / $	Mar. 31, 2016USD ($)MXN / $	Dec. 31, 2016USD ($)MXN / $
Schedule of Equity Method Investments [Line Items]
Equity in earnings (losses), net of taxes	$ 540,000	$ (150,000)
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 | MXN / $	18.73		20.70
Increase decrease in equity method investment	$ 1,300,000	(600,000)
Equity in earnings (losses), net of taxes	500,000	(200,000)
Equity in earnings (losses), deferred taxes benefit (expense)	200,000	$ (200,000)
Fair value of investment	32,100,000		$ 29,000,000
Carrying value of investment	24,100,000		22,500,000
Grupo Vasconia S.A.B. | Prepaid expenses and other current assets
Schedule of Equity Method Investments [Line Items]
Due from related party	59,000		83,000
Grupo Vasconia S.A.B. | Accounts payable and accrued expenses
Schedule of Equity Method Investments [Line Items]
Due to related party	$ 116,000		$ 220,000
Grupo Vasconia S.A.B. | Transaction 02
Schedule of Equity Method Investments [Line Items]
Average daily exchange rate for period - MXN to USD | MXN / $	20.30	18.02

Summarized Statement of Income

Summarized Statement of Income Information for Vasconia in USD and MXN (Detail) - Grupo Vasconia S.A.B. MXN in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2017MXN	Mar. 31, 2016USD ($)	Mar. 31, 2016MXN
Schedule of Equity Method Investments [Line Items]
Net sales	$ 36,823	MXN 747,495	$ 37,325	MXN 672,578
Gross profit	7,853	159,421	5,418	97,634
Income from operations	2,430	49,329	923	16,633
Net income	$ 1,234	MXN 25,043	$ 220	MXN 3,959

Components of Intangible Assets

Components of Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Schedule of Intangible Assets Disclosure [Line Items]
Goodwill, Gross	$ 14,347	$ 14,201
Goodwill, Accumulated Amortization	0	0
Goodwill, Net	14,347	14,201
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)	119,997	119,452
Finite-Lived Intangible Assets, Accumulated Amortization	(31,928)	(30,233)
Intangible Assets, Net (Including Goodwill)	88,069	89,219
License
Schedule of Intangible Assets Disclosure [Line Items]
Finite-Lived Intangible Assets, Gross	15,847	15,847
Finite-Lived Intangible Assets, Accumulated Amortization	(9,035)	(8,919)
Finite-Lived Intangible Assets, Net	6,812	6,928
Trade Names
Schedule of Intangible Assets Disclosure [Line Items]
Finite-Lived Intangible Assets, Gross	31,295	31,150
Finite-Lived Intangible Assets, Accumulated Amortization	(8,932)	(8,286)
Finite-Lived Intangible Assets, Net	22,363	22,864
Customer Relationships
Schedule of Intangible Assets Disclosure [Line Items]
Finite-Lived Intangible Assets, Gross	49,757	49,372
Finite-Lived Intangible Assets, Accumulated Amortization	(13,226)	(12,188)
Finite-Lived Intangible Assets, Net	36,531	37,184
Other
Schedule of Intangible Assets Disclosure [Line Items]
Finite-Lived Intangible Assets, Gross	1,135	1,266
Finite-Lived Intangible Assets, Accumulated Amortization	(735)	(840)
Finite-Lived Intangible Assets, Net	$ 400	$ 426

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	Apr. 01, 2017	Mar. 31, 2017	Dec. 31, 2016
Term Loan
Debt Instrument [Line Items]
Outstanding borrowing under credit facility		$ 7,000,000	$ 9,500,000
Unamortized debt issuance costs		110,000	157,000
Minimum availability under revolving credit to maintain minimum fixed charge ratio for four consecutive months		$ 17,500,000
Term Loan | Subsequent Event
Debt Instrument [Line Items]
Repayment of term loan	$ 7,000,000
Second Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Credit facility, maturity date		2019-01
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		$ 175,000,000
Outstanding borrowing under credit facility		81,900,000	86,200,000
Open letters of credit		2,800,000	$ 2,400,000
Availability under revolving credit facility		$ 53,500,000
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%
Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Interest rates on outstanding borrowings		2.50%
Percentage of line of credit facility unused capacity commitment fee		0.375%
Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Interest rates on outstanding borrowings		5.30%
Revolving Credit Facility | Term Loan
Debt Instrument [Line Items]
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 1.20 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 3.75 to 1.00 for each fiscal quarter ending thereafter. For any fiscal quarter of the Company ending on September 30th, the maximum Senior Leverage Ratio is increased by an additional 0.25:1.00 in excess of the applicable level otherwise provided.
Revolving Credit Facility | Term Loan | For each of four consecutive fiscal quarter periods
Debt Instrument [Line Items]
Fixed charge coverage ratio minimum		1.20%
Revolving Credit Facility | Term Loan | For each fiscal quarter ending thereafter
Debt Instrument [Line Items]
Senior leverage ratio		3.75%
Revolving Credit Facility | Term Loan | Additional in excess of the applicable level for any fiscal quarter ending on September 30th
Debt Instrument [Line Items]
Senior leverage ratio		0.25%
Revolving Credit Facility | Term Loan | Minimum
Debt Instrument [Line Items]
Minimum availability under revolving credit to maintain minimum fixed charge ratio for three consecutive months		$ 20,000,000
Revolving Credit Facility | Multi-currency Borrowings
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		40,000,000
Other than certain subordinated indebtedness
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		$ 92,600,000

Derivatives - Additional Inform

Derivatives - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Derivative [Line Items]
Commencement date	2013-03
Expiration date	Jun. 30, 2018
Duration of losses in other comprehensive income expected to be reclassified to earnings	12 months
Cash Flow Hedging | Interest Expense
Derivative [Line Items]
Accumulated other comprehensive loss expected to be reclassified to income	$ 0
Designated as Hedging Instrument | Cash Flow Hedging | Interest Rate Contract
Derivative [Line Items]
Notional amount	12,300,000	$ 14,000,000
Not Designated as Hedging Instrument | Foreign exchange contract
Derivative [Line Items]
Notional amount	$ 58,400,000	$ 38,300,000

Fair Values of Derivative Finan

Fair Values of Derivative Financial Instruments Included in Consolidated Balance Sheets (Detail) - Fair Value, Observable inputs, Level 2 - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Designated as Hedging Instrument | Interest Rate Contract | Deferred rent & other long-term liabilities
Derivatives, Fair Value [Line Items]
Fair Value of Derivative Liabilities		$ 3
Designated as Hedging Instrument | Interest Rate Contract | Accrued expenses
Derivatives, Fair Value [Line Items]
Fair Value of Derivative Liabilities		4
Designated as Hedging Instrument | Interest Rate Contract | Prepaid expenses
Derivatives, Fair Value [Line Items]
Fair Value of Derivative Liabilities	$ 16
Not Designated as Hedging Instrument | Foreign exchange contract | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Fair Value of Derivative Assets	$ 636	$ 924

Gains and Losses Related to Der

Gains and Losses Related to Derivative Financial Instruments Designated as Hedging Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Designated as Hedging Instrument | Interest Rate Contract
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) recognized in OCI	$ 13	$ (43)

Gains and Losses Related to D36

Gains and Losses Related to Derivative Financial Instruments Not Designated as Hedging Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Not Designated as Hedging Instrument | Foreign exchange contract | Selling, general and administrative expenses
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Income on Derivative	$ (189)	$ 552

Summary of Stock Option (Detail

Summary of Stock Option (Detail)	3 Months Ended
	Mar. 31, 2017USD ($)$ / sharesshares
Options
Beginning balance | shares	1,775,400
Grants | shares	75,000
Exercises | shares	(6,000)
Cancellations | shares	(11,200)
Ending balance | shares	1,833,200
Options exercisable at End of Period | shares	1,463,967
Weighted-average exercise price
Beginning balance | $ / shares	$ 13.44
Grants | $ / shares	16.60
Exercises | $ / shares	15.30
Cancellations | $ / shares	16.06
Ending balance | $ / shares	13.54
Options exercisable at End of Period | $ / shares	$ 12.84
Weighted-average remaining contractual life (years)
Options outstanding, Ending balance	4 years 7 months 6 days
Options exercisable, Ending balance	3 years 10 months 24 days
Aggregate intrinsic value
Options outstanding, end of period | $	$ 12,092,000
Options exercisable, end of period | $	$ 10,695,000

Stock Compensation - Additional

Stock Compensation - Additional Information (Detail) - USD ($)		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of stock options exercised		$ 27,000	$ 275,000
Unrecognized stock option compensation cost		1,500,000
Stock compensation expense		804,000	803,000
Stock compensation expense, stock option		400,000	500,000
Stock compensation expense, Performance based and restricted share		$ 400,000	300,000
Stock compensation expense, stock awards granted			$ 32,000
Amended and Restated Long Term Incentive Plan Two Thousand
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant		341,115
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average recognition period		2 years
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average recognition period		2 years 8 months 12 days
Total fair value of restricted stock vested		$ 28,000
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average recognition period	[1]	1 year 6 months
Number of shares range percentage		150.00%
[1]	Represents the target number of shares to be issued for each performance-based award.

Summary of Restricted Stock Act

Summary of Restricted Stock Activity (Detail) - Restricted Stock	3 Months Ended
	Mar. 31, 2017USD ($)$ / sharesshares
Number of shares
Beginning balance | shares	161,824
Grants | shares	10,000
Vested | shares	(1,674)
Cancellations | shares	(188)
Ending balance | shares	169,962
Total unrecognized compensation expense remaining | $	$ 1,793,000
Weighted-average years expected to be recognized over	2 years 8 months 12 days
Weighted-average exercise price
Beginning balance | $ / shares	$ 15.35
Grants | $ / shares	16.60
Vested | $ / shares	12.52
Cancellations | $ / shares	14.84
Ending balance | $ / shares	$ 15.45

Summary of Performance-based Aw

Summary of Performance-based Award Activity (Detail) - Performance Shares	3 Months Ended
	Mar. 31, 2017USD ($)$ / sharesshares
Number of shares
Beginning balance | shares	145,962	[1]
Cancellations | shares	(250)	[1]
Ending balance | shares	145,712	[1]
Total unrecognized compensation expense remaining | $	$ 1,143,000	[1]
Weighted-average years expected to be recognized over	1 year 6 months	[1]
Weighted-average grant date fair value
Beginning balance | $ / shares	$ 15.32
Cancellations | $ / shares	14.84
Ending balance | $ / shares	$ 15.32
[1]	Represents the target number of shares to be issued for each performance-based award.

Calculations of Basic and Dilut

Calculations of Basic and Diluted Loss per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share Disclosure [Line Items]
Net loss - basic and diluted	$ (1,331)	$ (4,288)
Weighted-average shares outstanding - basic and diluted	14,396	13,963
Basic and diluted loss per common share	$ (0.09)	$ (0.31)

Loss Per Common Share - Additio

Loss Per Common Share - Additional Information (Detail) - shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Stock Options
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Antidilutive Securities Excluded from Computation of Diluted Income Per Common Share	1,833,200	2,187,652
Restricted Stock
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Antidilutive Securities Excluded from Computation of Diluted Income Per Common Share	169,962	101,859

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2017USD ($)
Income Tax Examination [Line Items]
Gross liability for tax positions	$ 115,000
Tax positions that will be resolved within the next twelve months	$ 54,000
Income tax examination years description	The Company is no longer subject to U.S. Federal income tax examinations for the years prior to 2014.
State Jurisdiction | Minimum
Income Tax Examination [Line Items]
Income tax examination year	2,013
State Jurisdiction | Maximum
Income Tax Examination [Line Items]
Income tax examination year	2,016

Business Segments - Additional

Business Segments - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2017Segment
Segment Reporting Information [Line Items]
Number of reportable business segment	3

Segment Reporting Information (

Segment Reporting Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Segment Reporting Information [Line Items]
Net sales	$ 113,356	$ 110,925
Depreciation and amortization	3,286	3,484
Income (loss) from operations	(1,874)	(5,215)
Assets	374,647		$ 399,854
Unallocated corporate expenses
Segment Reporting Information [Line Items]
Income (loss) from operations	(3,068)	(3,858)
Assets	14,762		16,342
U.S. Wholesale
Segment Reporting Information [Line Items]
Net sales	87,392	82,268
Depreciation and amortization	2,302	2,179
U.S. Wholesale | Operating Segments
Segment Reporting Information [Line Items]
Income (loss) from operations	2,235	(1,789)
Assets	260,454		287,313
International
Segment Reporting Information [Line Items]
Net sales	21,228	23,673
Depreciation and amortization	951	1,270
International | Operating Segments
Segment Reporting Information [Line Items]
Income (loss) from operations	(1,157)	395
Assets	98,965		95,698
Retail Direct
Segment Reporting Information [Line Items]
Net sales	4,736	4,984
Depreciation and amortization	33	35
Retail Direct | Operating Segments
Segment Reporting Information [Line Items]
Income (loss) from operations	116	$ 37
Assets	$ 466		$ 501

Contingencies - Additional Info

Contingencies - Additional Information (Detail) $ in Millions	Dec. 11, 2015USD ($)
Capital cost
Commitments and Contingencies Disclosure [Line Items]
Remedial alternative, EPA preferred remedy	$ 7.3

Other - Additional Information

Other - Additional Information (Detail) - USD ($)	Mar. 08, 2017	Feb. 15, 2017	Mar. 31, 2017	Mar. 31, 2016
Other [Line Items]
Quarterly dividend declared			$ 0.0425	$ 0.0425
Cash dividend paid			$ 613,000	$ 594,000
Dividend Declared
Other [Line Items]
Dividend declaration date	Mar. 8, 2017	Feb. 15, 2017
Quarterly dividend declared	$ 0.0425
Dividend payable date	May 15, 2017
Dividend declared, date of record	May 1, 2017	Feb. 1, 2017
Dividend payable			$ 680,000
Cash dividend paid		$ 613,000

Supplemental Cash Flow Informat

Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Supplemental disclosure of cash flow information:
Cash paid for interest	$ 787	$ 1,028
Cash paid for taxes	537	5,881
Non-cash investing activities:
Translation gain (loss) adjustment	$ 1,976	$ (1,679)

Components of Accumulated Other

Components of Accumulated Other Comprehensive Loss, Net (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period		$ 197,728
Balance at end of period		198,703
Total accumulated other comprehensive loss at end of period		(34,995)	$ (15,893)	$ (36,999)
Accumulated translation adjustment:
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period		(35,644)	(12,961)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax		1,976	(1,679)
Balance at end of period		(33,668)	(14,640)
Accumulated deferred gains (losses) on cash flow hedges:
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period		(3)	(20)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax		13	(43)
Balance at end of period		10	(63)
Accumulated effect of retirement benefit obligations:
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period		(1,352)	(1,204)
Amounts reclassified from accumulated other comprehensive loss	[1]	15	14
Balance at end of period		$ (1,337)	$ (1,190)
[1]	Amounts are recorded in selling, general and administrative expense on the condensed consolidated statements of operations.

Components of Accumulated Oth50

Components of Accumulated Other Comprehensive Loss, Net (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Accumulated deferred gains (losses) on cash flow hedges:
Accumulated Other Comprehensive Income (Loss) [Line Items]
Derivative fair value adjustment, tax	$ 9	$ 29
Accumulated effect of retirement benefit obligations:
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amortization of actuarial losses, taxes	$ 10	$ 9