Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Nov. 02, 2013 | Dec. 17, 2013 | |
Entity Information [Line Items] | ' | ' |
Entity Registrant Name | 'Perfumania Holdings, Inc. | ' |
Entity Central Index Key | '0000880460 | ' |
Current Fiscal Year End Date | '--02-01 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Document Type | '10-Q | ' |
Document Period End Date | 2-Nov-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Amendment Flag | 'false | ' |
Entity Common Stock, Shares Outstanding | ' | 15,356,833 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Nov. 02, 2013 | Feb. 02, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash | $2,399 | $2,447 |
Accounts receivable, net of allowances of $1,038 and $753, as of November 3, 2013 and February 2, 2013, respectively | 58,453 | 20,417 |
Inventories | 320,823 | 271,881 |
Prepaid expenses and other current assets | 15,572 | 22,485 |
Total current assets | 397,247 | 317,230 |
Property and equipment, net | 19,684 | 20,060 |
Goodwill | 38,769 | 38,769 |
Intangible and other assets, net | 37,263 | 43,545 |
Total assets | 492,963 | 419,604 |
Current liabilities: | ' | ' |
Accounts payable | 72,817 | 44,640 |
Accounts payable-affiliates | 785 | 959 |
Accrued expenses and other liabilities | 34,070 | 33,746 |
Current portion of obligations under capital leases | 897 | 874 |
Total current liabilities | 108,569 | 80,219 |
Revolving credit facility | 114,938 | 61,071 |
Notes payable, affiliates | 125,366 | 125,366 |
Long-term portion of obligations under capital leases | 3,378 | 4,017 |
Other long-term liabilities | 51,119 | 45,809 |
Total liabilities | 403,370 | 316,482 |
Commitments and contingencies | ' | ' |
Shareholders’ equity: | ' | ' |
Preferred stock, $0.10 par value, 1,000,000 shares authorized, as of August 3, 2013 and February 2, 2013, none issued | 0 | 0 |
Common stock, $0.01 par value, 35,000,000 shares authorized;16,255,082 shares and 16,242,982 shares issued and outstanding as of November 2, 2013 and February 2, 2013, respectively | 163 | 163 |
Additional paid-in capital | 219,970 | 219,618 |
Accumulated deficit | -121,963 | -108,082 |
Treasury stock, at cost, 898,249 shares as of August 3, 2013 and February 2, 2013 | -8,577 | -8,577 |
Total shareholders’ equity | 89,593 | 103,122 |
Total liabilities and shareholders’ equity | $492,963 | $419,604 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Nov. 02, 2013 | Feb. 02, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Accounts receivable, allowance for doubtful accounts | $1,038 | $753 |
Preferred stock par value | $0.10 | $0.10 |
Preferred stock shares authorized | 1,000,000 | 1,000,000 |
Common stock par value | $0.01 | $0.01 |
Common stock shares authorized | 35,000,000 | 35,000,000 |
Common stock shares issued | 16,255,082 | 16,242,982 |
Treasury stock shares | 898,249 | 898,249 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 |
Net sales | $155,679 | $139,501 | $390,828 | $354,043 |
Cost of goods sold | 85,312 | 81,306 | 220,826 | 210,475 |
Gross profit | 70,367 | 58,195 | 170,002 | 143,568 |
Operating expenses: | ' | ' | ' | ' |
Selling, general and administrative expenses | 57,323 | 57,473 | 166,480 | 154,754 |
Share-based compensation expense | 105 | -151 | 312 | 4,268 |
Merger related expenses | 0 | 53 | 0 | 4,628 |
Depreciation and amortization | 2,846 | 3,702 | 9,336 | 10,349 |
Total operating expenses | 60,274 | 61,077 | 176,128 | 173,999 |
Income (loss) from operations | 10,093 | -2,882 | -6,126 | -30,431 |
Interest expense | -2,809 | -2,509 | -7,755 | -6,597 |
Net income (loss) | $7,284 | ($5,391) | ($13,881) | ($37,028) |
Net income (loss) per common share: | ' | ' | ' | ' |
Basic and diluted | $0.47 | ($0.35) | ($0.90) | ($2.75) |
Weighted average number of common shares outstanding: | ' | ' | ' | ' |
Basic and diluted | 15,355,656 | 15,303,800 | 15,354,072 | 13,442,162 |
Weighted Average Number of Shares Outstanding, Diluted | 15,396,930 | 15,303,800 | 15,354,072 | 13,442,162 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statement of Shareholders' Equity (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] |
In Thousands, except Share data, unless otherwise specified | |||||
Balance at Feb. 02, 2013 | $103,122 | $163 | $219,618 | ($108,082) | ($8,577) |
Balance, shares at Feb. 02, 2013 | ' | 16,242,982,000 | ' | ' | 898,249,000 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Share-based compensation expense | 312 | ' | 312 | ' | ' |
Exercise of stock options, shares | ' | 12,100,000 | ' | ' | ' |
Exercise of stock options | 40 | ' | 40 | ' | ' |
Net income (loss) | ($13,881) | ' | ' | ($13,881) | ' |
Balance at Aug. 03, 2013 | ' | ' | ' | ' | ' |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 |
Cash flows from operating activities: | ' | ' |
Net income (loss) | ($13,881) | ($37,028) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
Amortization of deferred financing costs | 674 | 666 |
Depreciation and amortization | 9,336 | 10,349 |
Provision for losses on accounts receivable | 233 | -51 |
Share-based compensation expense | 312 | 4,268 |
Change in operating assets and liabilities net of effect of acquisition: | ' | ' |
Accounts receivable | -38,269 | -22,192 |
Inventories | -48,942 | -42,920 |
Prepaid expenses and other assets | 7,557 | 2,320 |
Accounts payable | 28,177 | 25,173 |
Accounts payable-affiliates | -174 | 1,957 |
Accrued expenses and other liabilities and other long-term liabilities | 5,634 | 7,358 |
Net cash used in operating activities | -49,343 | -50,100 |
Cash flows from investing activities: | ' | ' |
Additions to property and equipment | -3,996 | -5,575 |
Payment to acquire Parlux, net of Parlux cash on hand of $17,114 | 0 | -44,949 |
Net cash used in investing activities | -3,996 | -50,524 |
Cash flows from financing activities: | ' | ' |
Net borrowings under bank line of credit | 53,867 | 71,191 |
Borrowings under affiliated notes payable to fund Parlux acquisition | 0 | 30,000 |
Principal payments under capital lease obligations | -616 | -809 |
Proceeds from exercise of stock options | 40 | 83 |
Net cash provided by financing activities | 53,291 | 100,465 |
Net decrease in cash and cash equivalents | -48 | -159 |
Cash and cash equivalents at beginning of period | 2,447 | 1,682 |
Supplemental Information: | ' | ' |
Cash paid during the period for Interest | 2,253 | 1,462 |
Cash paid during the period for Income taxes | 27 | 327 |
Fair value of equity consideration given to acquire Parlux | $0 | $89,563 |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements of Cash Flows (Parenthetical) (USD $) | 6 Months Ended |
In Thousands, unless otherwise specified | Jul. 28, 2012 |
Cash Acquired from Acquisition | $17,114 |
Basis_of_Presentation_and_Oper
Basis of Presentation and Operations | 9 Months Ended |
Nov. 02, 2013 | |
Basis of Presentation and Operations [Abstract] | ' |
Basis of Presentation and Operations | ' |
BASIS OF PRESENTATION AND OPERATIONS | |
The condensed consolidated balance sheet of Perfumania Holdings, Inc. and Subsidiaries (the "Company") as of February 2, 2013, which has been derived from our audited financial statements as of and for the year ended February 2, 2013, and the accompanying interim unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and note disclosures normally included in annual financial statements, prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”), have been condensed or omitted pursuant to those rules and regulations. The financial information presented herein, which is not necessarily indicative of results to be expected for the full current fiscal year, reflects all adjustments which, in the opinion of management, are necessary for a fair presentation of the interim unaudited condensed consolidated financial statements. Such adjustments are of a normal, recurring nature. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in our Annual Report on Form 10-K for the fiscal year ended February 2, 2013. | |
Due to the seasonality of the Company’s business, with the most significant activity occurring from September through December each year, the results of operations for the thirteen and thirty-nine weeks ended November 2, 2013 are not necessarily indicative of results to be expected for the full fiscal year. | |
The Company is an independent, national, vertically integrated wholesale distributor and specialty retailer of perfumes and fragrances that conducts business through six primary operating subsidiaries; Perfumania, Inc. (“Perfumania”), Quality King Fragrance, Inc. (“QFG”), Scents of Worth, Inc. ("SOW"), Perfumania.com, Inc. (“Perfumania.com”), Parlux Fragrances, LLC ("Parlux") and Five Star Fragrance Company, Inc. (“Five Star”). See Note 2 for discussion on the acquisition of Parlux. We operate in two industry segments, wholesale distribution and specialty retail sales of designer fragrances and related products. | |
Our wholesale businesses include QFG, Five Star and Parlux. QFG distributes designer fragrances to mass market retailers, drug and other chain stores, retail wholesale clubs, traditional wholesalers, and other distributors throughout the United States. It sells principally to retailers such as Walmart, Kohl's, Nordstrom Rack, Marshall's, Walgreens and Ross Stores. The Company’s manufacturing divisions, Parlux and Five Star, own and license designer and other fragrance brands that are sold to regional and national department stores, international distributors, through QFG, SOW’s consignment business and Perfumania’s retail stores, paying royalties to the licensors based on a percentage of sales. All manufacturing operations are outsourced to third-party manufacturers. | |
Our retail business is conducted through the following subsidiaries: | |
•Perfumania, a specialty retailer of fragrances and related products, | |
•SOW, which sells fragrances in retail stores on a consignment basis, and | |
•Perfumania.com, an Internet retailer of fragrances and other specialty items. | |
As of November 2, 2013, Perfumania operated a chain of 335 retail stores specializing in the sale of fragrances and related products at discounted prices up to 75% below the manufacturers’ suggested retail prices. Perfumania.com offers a selection of our more popular products for sale over the Internet and serves as an alternative shopping experience to the Perfumania retail stores. SOW operates the largest national designer fragrance consignment program, with contractual relationships to sell products on a consignment basis in approximately 2,400 stores, including approximately 1,200 Kmart locations nationwide. Its other retail customers include Burlington Coat Factory, Loehmann’s, Steinmart and K & G. |
Acquisition_of_Parlux
Acquisition of Parlux | 9 Months Ended | |||
Nov. 02, 2013 | ||||
ACQUISITION OF PARLUX [Abstract] | ' | |||
Business Combination Disclosure [Text Block] | ' | |||
ACQUISITION OF PARLUX | ||||
On April 18, 2012, the Company acquired all of the outstanding shares of Parlux Fragrances, Inc. ("Parlux Inc."), formerly a publicly-traded company, which is in the business of creating, designing, manufacturing, distributing and selling prestige fragrances and beauty-related products marketed primarily through specialty stores, national department stores and perfumeries on a worldwide basis. The Company issued approximately 6.014 million shares of its common stock and paid approximately $62.1 million in cash to the former Parlux Inc. shareholders. Parlux Inc. was then merged into PFI Merger Sub I, LLC, which survived this second merger as a wholly owned subsidiary of Perfumania and changed its name to Parlux Fragrances, LLC. | ||||
The accompanying unaudited condensed consolidated financial statements include the results of operations and cash flows for Parlux beginning on April 18, 2012. Parlux has been integrated into the Company's operations and is not considered a separate segment for financial reporting purposes. | ||||
The unaudited pro forma results presented below include the effects of the Parlux Inc. acquisition as if it had been consummated as of January 28, 2012. The pro forma results include the amortization associated with estimates for the acquired intangible assets. In addition, the pro forma results do not include any realized or anticipated synergies, operating efficiencies or cost savings or other realized or expected benefits of the acquisition or any integration costs. Accordingly, the unaudited pro forma financial information below is not necessarily indicative of either future results of operations or results that might have been achieved had the acquisition been consummated as of January 28, 2012. | ||||
Pro Forma | ||||
Thirty-nine Weeks Ended | ||||
27-Oct-12 | ||||
(in thousands, except per share data) | ||||
Net sales | $ | 373,248 | ||
Net loss | (38,922 | ) | ||
Net loss per share - basic | $ | (2.90 | ) | |
Net loss per share - diluted | (2.90 | ) |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 9 Months Ended |
Nov. 02, 2013 | |
RECENT ACCOUNTING PRONOUNCEMENTS [Abstract] | ' |
Recent Accounting Pronouncements | ' |
RECENT ACCOUNTING PRONOUNCEMENTS | |
There are no recently issued accounting standards that are expected to have a material effect on our financial condition, results of operations or cash flows. |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 9 Months Ended | |||||||||||||||||||||||||
Nov. 02, 2013 | ||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||||||
Goodwill and Intangible Assets | ' | |||||||||||||||||||||||||
GOODWILL AND INTANGIBLE ASSETS | ||||||||||||||||||||||||||
Goodwill in the amount of $38.8 million at November 2, 2013 and February 2, 2013 resulted from the April 18, 2012 acquisition of Parlux Inc. | ||||||||||||||||||||||||||
The following table provides information related to goodwill and intangible assets (in thousands). Intangible assets are included in intangible and other assets, net on the accompanying condensed consolidated balance sheets as of November 2, 2013 and February 2, 2013: | ||||||||||||||||||||||||||
November 2, 2013 | 2-Feb-13 | |||||||||||||||||||||||||
Useful Life | Original | Accumulated | Net Book | Original | Accumulated | Net Book | ||||||||||||||||||||
(years) | Cost | Amortization | Value | Cost | Amortization | Value | ||||||||||||||||||||
Goodwill | N/A | $ | 38,769 | $ | — | $ | 38,769 | $ | 38,769 | $ | — | $ | 38,769 | |||||||||||||
Tradenames | 20-Jul | 9,408 | 7,016 | 2,392 | 9,408 | 6,754 | 2,654 | |||||||||||||||||||
Customer relationships | 10 | 5,171 | 819 | 4,352 | 5,171 | 431 | 4,740 | |||||||||||||||||||
Favorable leases | 7 | 886 | 580 | 306 | 886 | 485 | 401 | |||||||||||||||||||
License agreements | 4-Jan | 19,505 | 10,053 | 9,452 | 19,505 | 5,901 | 13,604 | |||||||||||||||||||
Tradename (non-amortizing) | N/A | 8,500 | — | 8,500 | 8,500 | — | 8,500 | |||||||||||||||||||
$ | 82,239 | $ | 18,468 | $ | 63,771 | $ | 82,239 | $ | 13,571 | $ | 68,668 | |||||||||||||||
In accordance with US GAAP, goodwill and intangible assets with indefinite lives are not amortized, but rather tested for impairment at least annually by comparing the estimated fair values to their carrying values. | ||||||||||||||||||||||||||
Trademarks, including tradenames and owned licenses having finite lives, are amortized over their respective lives to their estimated residual values and are also reviewed for impairment in accordance with accounting standards when changes in circumstances indicate the assets’ values may be impaired. Customer relationships are amortized over the expected period of benefit and license agreements are amortized over the remaining contractual term. Impairment testing is based on a review of forecasted operating cash flows and the profitability of the related brand. There were no triggering events during the thirteen and thirty-nine weeks ended November 2, 2013 that would indicate potential impairment and the requirement to review the carrying value of goodwill and intangible assets. | ||||||||||||||||||||||||||
Amortization expense associated with intangible assets subject to amortization is included in depreciation and amortization on the accompanying condensed consolidated statements of operations. Amortization expense for intangible assets subject to amortization was $1.4 million and $1.8 million for the thirteen weeks ended November 2, 2013 and October 27, 2012, respectively, and $4.9 million and $4.7 million for the thirty-nine weeks ended November 2, 2013 and October 27, 2012, respectively. As of November 2, 2013, estimated future amortization expense associated with intangible assets subject to amortization is as follows (in thousands): | ||||||||||||||||||||||||||
Fiscal Year | Amortization | |||||||||||||||||||||||||
Expense | ||||||||||||||||||||||||||
Remainder of 2013 | $ | 1,222 | ||||||||||||||||||||||||
2014 | 4,842 | |||||||||||||||||||||||||
2015 | 4,296 | |||||||||||||||||||||||||
2016 | 1,726 | |||||||||||||||||||||||||
2017 | 1,211 | |||||||||||||||||||||||||
2018 | 890 | |||||||||||||||||||||||||
Thereafter | 2,315 | |||||||||||||||||||||||||
$ | 16,502 | |||||||||||||||||||||||||
Accounting_For_ShareBased_Paym
Accounting For Share-Based Payments | 9 Months Ended | ||||||||||||
Nov. 02, 2013 | |||||||||||||
ACCOUNTING FOR SHARE-BASED PAYMENTS [Abstract] | ' | ||||||||||||
Accounting for Share-Based Payments | ' | ||||||||||||
ACCOUNTING FOR SHARE-BASED PAYMENTS | |||||||||||||
The 2010 Equity Incentive Plan (the “2010 Plan”) provides for equity-based awards to the Company’s employees, directors and consultants. Under the 2010 Plan, the Company initially reserved 1,000,000 shares of common stock for issuance. This number automatically increases on the first trading day of each fiscal year beginning with fiscal 2011, by an amount equal to 1.5% of the shares of common stock outstanding as of the last trading day of the immediately preceding fiscal year; accordingly, 1,499,221 shares of common stock were reserved for issuance as of November 2, 2013. The Company previously had two stock option plans which expired on October 31, 2010. No further awards will be granted under these plans, although all options previously granted and outstanding will remain outstanding until they are either exercised or forfeited. As of November 2, 2013, 707,613 stock options have been granted pursuant to the 2010 Plan. | |||||||||||||
The following is a summary of the stock option activity during the thirty-nine weeks ended November 2, 2013: | |||||||||||||
Number of | Weighted | Weighted | Aggregate | ||||||||||
Shares | Average | Average | Intrinsic | ||||||||||
Exercise Price | Remaining | Value | |||||||||||
Contractual | (in thousands) | ||||||||||||
Life | |||||||||||||
Outstanding as of February 2, 2013 | 1,243,674 | $ | 8.27 | ||||||||||
Granted | — | — | |||||||||||
Exercised | (6,767 | ) | 3.46 | ||||||||||
Forfeited | (47,389 | ) | 6.65 | ||||||||||
Outstanding as of November 2, 2013 | 1,189,518 | $ | 8.36 | 6.1 | $ | 165 | |||||||
Vested and expected to vest as of November 2, 2013 | 1,043,684 | $ | 8.24 | 6.1 | $ | 165 | |||||||
Exercisable as of November 2, 2013 | 1,043,684 | $ | 8.24 | 6.1 | $ | 165 | |||||||
The following is a summary of stock warrants activity during the thirty-nine weeks ended November 2, 2013: | |||||||||||||
Number of | Weighted | Weighted | Aggregate | ||||||||||
Warrants | Average | Average | Intrinsic | ||||||||||
Exercise Price | Remaining | Value | |||||||||||
Contractual | (in thousands) | ||||||||||||
Life | |||||||||||||
Outstanding as of February 2, 2013 | 6,305,304 | $ | 11.79 | ||||||||||
Granted | — | — | |||||||||||
Exercised | (5,333 | ) | 3.38 | ||||||||||
Forfeited | — | — | |||||||||||
Outstanding as of November 2, 2013 | 6,299,971 | $ | 11.8 | 4.6 | $ | — | |||||||
Vested as of November 2, 2013 | 6,299,971 | $ | 11.8 | 4.6 | $ | — | |||||||
Exercisable as of November 2, 2013 | 6,299,971 | $ | 11.8 | 4.6 | $ | — | |||||||
Share-based compensation expense was $0.1 million and $(0.2) million during the thirteen weeks ended November 2, 2013 and October 27, 2012, respectively, and $0.3 million and $4.3 million during the thirty-nine weeks ended November 2, 2013 and October 27, 2012, respectively. |
Revolving_Credit_Facility_and_
Revolving Credit Facility and Notes Payable to Affiliates | 9 Months Ended | |||||||
Nov. 02, 2013 | ||||||||
REVOLVING CREDIT FACILITY AND NOTES PAYABLE TO AFFILIATES [Abstract] | ' | |||||||
Revolving Credit Facility and Notes Payable to Affiliates | ' | |||||||
REVOLVING CREDIT FACILITY AND NOTES PAYABLE TO AFFILIATES | ||||||||
The Company’s revolving credit facility and notes payable to affiliates consist of the following: | ||||||||
November 2, 2013 | February 2, 2013 | |||||||
(in thousands) | ||||||||
Revolving credit facility, interest payable monthly, secured by a pledge of substantially all of the Company's assets | $ | 114,938 | $ | 61,071 | ||||
Subordinated notes payable-affiliates | 125,366 | 125,366 | ||||||
240,304 | 186,437 | |||||||
Less current portion | — | — | ||||||
Total long-term debt | $ | 240,304 | $ | 186,437 | ||||
The Company has a $225 million revolving Senior Credit Facility with a syndicate of banks that is used for the Company’s general corporate purposes and those of its subsidiaries, including working capital. This facility does not require amortization of principal and is scheduled to expire in January 2015, when all amounts will be due and payable in full. Under this facility, revolving loans may be drawn, repaid and reborrowed up to the amount available under a borrowing base calculated with reference to specified percentages of the Company’s credit card and trade receivables and inventory, which may be reduced by the lender in its reasonable discretion. The Company must maintain availability under the facility of at least $10 million. As of November 2, 2013, the Company had $40.7 million of availability. | ||||||||
Interest under the Senior Credit Facility is at variable rates plus specified margins that are determined based upon the Company’s excess availability from time to time. The Company is also required to pay monthly commitment fees based on the unused amount of the Senior Credit Facility and a monthly fee with respect to outstanding letters of credit. As of November 2, 2013, the interest rate on LIBOR Rate borrowings was 2.9% and the interest rate on base borrowings was 5.0%. | ||||||||
All obligations of the Company related to the Senior Credit Facility are secured by first priority perfected security interests in all personal and real property owned by the Company, including without limitation 100% (or, in the case of excluded foreign subsidiaries, 66%) of the outstanding equity interests in the subsidiaries. The Company is subject to customary limitations on its ability to, among other things, pay dividends and make distributions, make investments and enter into joint ventures, and dispose of assets. The Company was in compliance with all financial and operating covenants as of November 2, 2013. | ||||||||
In addition, the Company has outstanding unsecured debt obligations as follows: | ||||||||
(i)a promissory note in the principal amount of $35 million, (the “QKD Note”) held by Quality King Distributors, Inc. ("Quality King"), which provides for payment of principal in quarterly installments between April 30, 2015 and July 31, 2018 and payment of interest in quarterly installments commencing on January 31, 2011 at the then current senior debt rate, as defined in the Senior Credit Facility, plus 1% per annum; | ||||||||
(ii)promissory notes in the aggregate principal amount of approximately $85.4 million held by six estate trusts established by Glenn, Stephen and Arlene Nussdorf (the “Nussdorf Trust Notes”), which provide for payment of the principal in full on April 30, 2015 and payments of interest in quarterly installments commencing on July 31, 2012 at the then current senior debt rate plus 2% per annum. These notes were in the original principal amount of $55.4 million, but were replaced by amended and restated notes reflecting the additional $30 million loaned by the trusts on April 18, 2012, the date of the Parlux merger; and | ||||||||
(iii) a promissory note in the principal amount of $5 million held by Glenn and Stephen Nussdorf (the “2004 Note”), which provided for payment in January 2009 and is currently in default because of the restrictions on payment described below, resulting in an increase of 2% in the nominal interest rate, which is the prime rate plus 1%. | ||||||||
These notes are subordinated to the Senior Credit Facility. No principal may be paid on any of them until three months after the Senior Credit Facility terminates and is paid in full, and payment of interest is subject to satisfaction of certain conditions, including the Company’s maintaining excess availability under the Senior Credit Facility of the greater of $17.5 million or 17.5% of the borrowing base certificate after giving effect to the payment, and a fixed charge coverage ratio, as defined in the credit agreement, of 1.1:1.0. Interest expense on these notes was approximately $1.5 million for the thirteen weeks ended November 2, 2013 and October 27, 2012, and $4.6 million and $4.4 million for the thirty-nine weeks ended November 2, 2013 and October 27, 2012, respectively, and is included in interest expense on the accompanying condensed consolidated statements of operations. No payments of principal or interest have been made on the QKD Note or the Nussdorf Trust Notes. On the 2004 Note, no payments of principal have been made and no interest payments have been made since October 2008. Accrued interest payable due at November 2, 2013 and February 2, 2013 on the Nussdorf Trust Notes, the Quality King Note, and the 2004 Note was approximately $32.1 million and $27.5 million, respectively, and is included in other long-term liabilities on the accompanying condensed consolidated balance sheets as of November 2, 2013 and February 2, 2013, respectively. |
Accounting_for_Income_Taxes
Accounting for Income Taxes | 9 Months Ended |
Nov. 02, 2013 | |
ACCOUNTING FOR INCOME TAXES [Abstract] | ' |
Accounting for Income Taxes | ' |
ACCOUNTING FOR INCOME TAXES | |
The Company conducts business throughout the United States, Puerto Rico and beginning in 2012, the United States Virgin Islands and, as a result, files income tax returns in the U.S. Federal and various state jurisdictions, Puerto Rico and the United States Virgin Islands. In the normal course of business the Company is subject to examinations in these jurisdictions. With few exceptions, the Company is no longer subject to U.S. Federal, state, local or Puerto Rico income tax examinations for fiscal years prior to 2008. State and foreign income tax returns are generally subject to examination for a period of three to five years after filing of the respective return. The state impact of any Federal changes remains subject to examination by various states for a period of up to one year after formal notification to the states. For the tax year ended June 30, 2009, the Company carried back a portion of its net operating loss to the 2007 Federal tax return. The carryback resulted in a claim for refund of Federal income taxes of approximately $2.5 million. The amount of the claim was determined based on information which became available and which was recorded as an income tax benefit during both the thirteen and thirty-nine weeks ended October 30, 2010. During the year ended January 28, 2012, the amount of the claim was reduced to approximately $2.4 million as a result of an IRS examination. The claim for refund was collected during the thirteen weeks ended May 4, 2013. | |
On April 18, 2012, the Company completed a non-taxable acquisition of Parlux. As part of the acquisition, the Company recorded various deferred tax liabilities related to the acquisition accounting resulting in an increase in goodwill. Due to the change in control of Parlux, there may be limitations, under Internal Revenue Code Section 382, on the Company's ability to utilize Parlux's net operating losses. The limitation is not anticipated to be significant. | |
The Company continues to provide a full valuation allowance against its net deferred tax assets due to the uncertainty as to when business conditions will improve sufficiently to enable it to utilize its deferred tax assets. As a result, the Company did not record a Federal or state tax benefit on its operating loss for the thirteen or thirty-nine weeks ended November 2, 2013. | |
During the thirteen and thirty-nine weeks ended November 2, 2013, there were no changes to the liability for income tax associated with uncertain tax positions. The Company accrues interest related to unrecognized tax benefits as well as any related penalties in operating expenses in its condensed consolidated statements of operations, which is consistent with the recognition of these items in prior reporting periods. The accrual for interest and penalties related to uncertain tax positions as of November 2, 2013 and February 2, 2013 was not significant. | |
The Company does not anticipate any material adjustments relating to unrecognized tax benefits within the next twelve months; however, the ultimate outcome of tax matters is uncertain and unforeseen results can occur. |
Basic_and_Diluted_Net_Loss_Per
Basic and Diluted Net Loss Per Common Share | 9 Months Ended | |||||||||||
Nov. 02, 2013 | ||||||||||||
BASIC AND DILUTED NET LOSS PER COMMON SHARE [Abstract] | ' | |||||||||||
Basic and Diluted Net Loss Per Common Share | ' | |||||||||||
BASIC AND DILUTED NET INCOME (LOSS) PER COMMON SHARE | ||||||||||||
Basic net income (loss) per common share has been computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. | ||||||||||||
Diluted net income (loss) per common share includes, in periods in which they are dilutive, the effect of those common stock equivalents where the average market price of the common stock exceeds the exercise prices for the respective periods. | ||||||||||||
Weighted average number of shares used for income (loss) per share is as follows: | ||||||||||||
Thirteen Weeks Ended November 2, 2013 | Thirteen Weeks Ended October 27, 2012 | Thirty-nine Weeks Ended | Thirty-nine Weeks Ended | |||||||||
2-Nov-13 | 27-Oct-12 | |||||||||||
Weighted average number of shares - basic | 15,355,656 | 15,303,800 | 15,354,072 | 13,442,162 | ||||||||
Common stock equivalents | 41,274 | — | — | — | ||||||||
Weighted average number of shares - diluted | 15,396,930 | 15,303,800 | 15,354,072 | 13,442,162 | ||||||||
During the thirteen and thirty-nine weeks ended November 2, 2013, there were 7,255,094 and 7,489,489 potential shares of common stock related to stock options and warrants which were excluded from the diluted income (loss) per share calculation because the effect of including these potential shares was antidilutive. During the thirteen and thirty-nine weeks ended October 27, 2012, there were 7,550,518 potential shares of common stock which were excluded from the diluted loss per share calculation because the effect of including these potential shares was antidilutive. |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended |
Nov. 02, 2013 | |
FAIR VALUE MEASUREMENTS [Abstract] | ' |
Fair Value Measurements | ' |
FAIR VALUE MEASUREMENTS | |
The Company applies authoritative accounting guidance regarding fair value and disclosures as it applies to financial and non-financial assets and liabilities. The guidance defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability on the measurement date. The three levels are defined as follows: | |
Level 1: Observable inputs such as quoted prices in active markets (the fair value hierarchy gives the highest priority to | |
Level 1 inputs); | |
Level 2: Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and | |
Level 3: Unobservable inputs in which there is little or no market data and require the reporting entity to develop its own assumptions | |
As of November 2, 2013, the Company had no material financial assets or liabilities measured on a recurring basis at fair value. The Company measures certain assets at fair value on a non-recurring basis, specifically long-lived assets evaluated for impairment. No such impairments were recorded during the thirteen and thirty-nine weeks ended November 2, 2013 and October 27, 2012. |
Contingencies
Contingencies | 9 Months Ended |
Nov. 02, 2013 | |
CONTINGENCIES [Abstract] | ' |
Contingencies | ' |
CONTINGENCIES | |
The Company is involved in various legal proceedings in the ordinary course of business. Management cannot presently predict the outcome of these or any of the above matters, although management believes, based in part on the advice of counsel, that the ultimate resolution of these matters will not have a materially adverse effect on the Company's consolidated financial position, results of operations or cash flows. |
Related_Party_Transactions
Related Party Transactions | 9 Months Ended | ||||||||||||||||||||||||
Nov. 02, 2013 | |||||||||||||||||||||||||
Related Party Transactions [Abstract] | ' | ||||||||||||||||||||||||
Related Party Transactions | ' | ||||||||||||||||||||||||
RELATED-PARTY TRANSACTIONS | |||||||||||||||||||||||||
Glenn, Stephen and Arlene Nussdorf owned an aggregate 7,742,282 shares or approximately 50.4%, of the total number of shares of the Company’s common stock as of November 2, 2013, excluding shares issuable upon conversion of certain warrants and not assuming the exercise of any outstanding options. Stephen Nussdorf has served as the Chairman of the Company’s Board of Directors since February 2004 and Executive Chairman of the Board since April 2011. | |||||||||||||||||||||||||
The Nussdorfs are officers and principals of Quality King, which distributes pharmaceuticals and health and beauty care products, and the Company’s President and Chief Executive Officer, Michael W. Katz is also an executive of Quality King. | |||||||||||||||||||||||||
See Note 6 for a discussion of notes payable to affiliates. | |||||||||||||||||||||||||
Transactions With Affiliated Companies | |||||||||||||||||||||||||
Glenn Nussdorf has an ownership interest in Lighthouse Beauty Marketing, LLC, Lighthouse Beauty, LLC and Lighthouse Beauty KLO, LLC (collectively "Lighthouse Companies"), all of which are manufacturers and distributors of prestige fragrances. He also has an ownership interest in Cloudbreak Holdings, LLC, ("Cloudbreak") a manufacturer and distributor of prestige fragrances. In fiscals 2010 and 2012, the Company began purchasing merchandise from the Lighthouse Companies and Cloudbreak, respectively. Glenn Nussdorf also has an ownership interest in Ricky's, a retailer specializing in fashion accessories, cosmetics and beauty supplies. During the last two quarters of fiscal 2011, the Company began purchasing various beauty accessories from Ricky's. | |||||||||||||||||||||||||
Since fiscal 2012, Perfumania has purchased merchandise from Jacavi Beauty Supply, LLC (“Jacavi”), a fragrance distributor. Jacavi's managing member is Rene Garcia. Rene Garcia, his family trusts and related entities are members of a group that owned an aggregate 2,211,269 shares, or approximately 14.4%, of the total number of shares of the Company's common stock as of November 2, 2013, excluding shares issuable upon conversion of certain warrants. During the thirteen and thirty-nine weeks ended November 2, 2013, Perfumania purchased merchandise from Jacavi. See disclosure of merchandise purchases in the table below. | |||||||||||||||||||||||||
The amounts due to these related companies are non-interest bearing and are included in accounts payable-affiliates in the accompanying condensed consolidated balance sheets. Transactions for merchandise purchases with these related companies during the thirteen and thirty-nine weeks ended November 2, 2013 and October 27, 2012 were as follows: | |||||||||||||||||||||||||
Total Purchases | Total Purchases | Total Purchases | Total Purchases | Balance Due | Balance Due | ||||||||||||||||||||
Thirteen Weeks Ended | Thirteen Weeks Ended | Thirty-nine Weeks Ended | Thirty-nine Weeks Ended | 2-Nov-13 | 2-Feb-13 | ||||||||||||||||||||
2-Nov-13 | 27-Oct-12 | 2-Nov-13 | 27-Oct-12 | ||||||||||||||||||||||
Parlux | $ | — | $ | — | $ | — | $ | 6,771 | -1 | $ | — | -2 | $ | — | -2 | ||||||||||
Lighthouse Companies | 3,164 | 6,545 | 10,385 | 9,733 | 749 | 868 | |||||||||||||||||||
Jacavi Beauty Supply, LLC | 202 | 901 | 619 | 3,658 | — | 1 | |||||||||||||||||||
Ricky's | — | — | — | — | — | (23 | ) | ||||||||||||||||||
Cloudbreak Holdings, LLC | 75 | — | 821 | — | — | 103 | |||||||||||||||||||
$ | 3,441 | $ | 7,446 | $ | 11,825 | $ | 20,162 | $ | 749 | $ | 949 | ||||||||||||||
(1)Represents purchases from Parlux prior to April 18, 2012, when the Company acquired Parlux. | |||||||||||||||||||||||||
-2 | Since the Company acquired Parlux on April 18, 2012, the balance due to Parlux was eliminated in consolidation as of November 2, 2013 and February 2, 2013. | ||||||||||||||||||||||||
As of November 2, 2013, the Company has a receivable of $0.2 million from the Lighthouse Companies. This amount is non-interest bearing and is included in accounts receivable, net, on the condensed consolidated balance sheet as of November 2, 2013. | |||||||||||||||||||||||||
Glenn, Stephen and Arlene Nussdorf own GSN Trucking, Inc. (“GSN”) which provides general transportation and freight services. The Company periodically utilizes GSN to transport both inbound purchases of merchandise and outbound shipments to wholesale customers. During the thirty-nine weeks ended November 2, 2013 and October 27, 2012, total payments to GSN for transportation services provided were less than $0.1 million. There was no balance due to GSN at November 2, 2013 or February 2, 2013. | |||||||||||||||||||||||||
Quality King occupies a leased 560,000 square foot facility in Bellport, NY. The Company began occupying approximately half of this facility in December 2007 under a sublease that terminates on September 30, 2027 and this location serves as the Company’s principal offices. As of November 2, 2013, the monthly current sublease payments are approximately $215,000 and increase by 3% annually. Total payments by the Company to Quality King were approximately $0.6 million and $0.7 million during the thirteen weeks ended November 2, 2013 and October 27, 2012, respectively, and $1.9 million and $2.1 million during the thirty-nine weeks ended November 2, 2013 and October 27, 2012, respectively, for this sublease. | |||||||||||||||||||||||||
The Company and Quality King are parties to a Services Agreement providing for the Company’s participation in certain third party arrangements at the Company’s respective share of Quality King’s cost, including allocated overhead, plus a 2% administrative fee, and the provision of legal services. The Company also shares with Quality King the economic benefit of the bulk rate contract that the Company has with UPS to ship Quality King’s merchandise and related items. The Services Agreement will terminate on thirty days’ written notice from either party. The expenses charged under these arrangements to the Company were less than $0.1 million during the thirteen weeks ended November 2, 2013 and October 27, 2012, respectively, and $0.3 million and $0.5 million during the thirty-nine weeks ended November 2, 2013 and October 27, 2012, respectively. The balance due to Quality King for expenses charged under the Services Agreement was less than $0.1 million at both November 2, 2013 and February 2, 2013, respectively. | |||||||||||||||||||||||||
On December 23, 2011, the Company, Parlux Inc., Artistic Brands Development LLC (“Artistic Brands”) (a company controlled by Rene Garcia) and Rene Garcia entered into a Letter Agreement (the “Proposal Agreement”) providing for, among other things, the issuance to Artistic Brands or its designee of 300,000 shares of the Company's common stock at the effective time of the Parlux merger as consideration for certain licensing transactions contemplated in the Proposal Agreement. Perfumania issued the shares to Artistic Brands' designee, Shawn Carter, on April 18, 2012. | |||||||||||||||||||||||||
In connection with the Parlux merger, on April 18, 2012, Parlux, Artistic Brands, Shawn Carter and S. Carter Enterprises, LLC entered into a sublicense agreement and Artistic Brands, Shawn Carter and S. Carter Enterprises, LLC entered into a license agreement pursuant to the Proposal Agreement. In connection with these agreements, the Company issued to Artistic Brands and its designees, including Shawn Carter, warrants for the purchase of an aggregate of 1,599,999 shares of the Company's common stock at an exercise price of $8.00 per share. Pursuant to the license agreement, Artistic Brands obtained the exclusive right and license to manufacture, promote, distribute, and sell prestige fragrances and related products under the Jay-Z trademark. The initial term of the license agreement expires at the earlier of (i) five years following the first date on which licensed products are shipped and (ii) December 31, 2018. Artistic Brands has the right to renew the license agreement, so long as certain financial conditions are met and it has not otherwise breached the agreement. Pursuant to the license agreement, Artistic Brands agreed to make certain royalty payments, including certain guaranteed minimum royalties. Pursuant to the sublicense agreement, Artistic Brands sublicensed all rights granted under the license agreement to the Company, and in return the Company assumed all of the Artistic Brands' obligations under the license agreement, including making all royalty payments and certain guaranteed minimum royalties owed to S. Carter Enterprises, LLC. Also, in connection with the Parlux merger, the Company issued warrants to purchase 3,199,972 shares of the Company's common stock to the Garcia Group and Artistic Brands, and warrants to purchase 5,333 shares of common stock to Glenn H. Gopman, a former member of the board of directors of Parlux, Inc., and a current member of the Company's Board of Directors, in exchange for warrants to purchase Parlux Inc. stock previously held by those parties. Glenn H. Gopman's warrants were exercised during the thirty-nine weeks ended November 2, 2013. |
Segment_Information
Segment Information | 9 Months Ended | |||||||||||||||
Nov. 02, 2013 | ||||||||||||||||
SEGMENT INFORMATION [Abstract] | ' | |||||||||||||||
Segment Information | ' | |||||||||||||||
SEGMENT INFORMATION | ||||||||||||||||
The Company operates in two industry segments, wholesale distribution and specialty retail sales of designer fragrance and related products. Management reviews segment information by segment and on a consolidated basis each month. Retail sales include sales through Perfumania retail stores, the SOW consignment business and the Company’s internet site, Perfumania.com. Wholesale sales include sales through QFG, Parlux and Five Star to unrelated customers. The accounting policies of the segments are the same as those described in the summary of significant accounting policies in the Annual Report on Form 10-K for the fiscal year ended February 2, 2013. The Company’s chief operating decision maker, who is its Chief Executive Officer, assesses segment performance by reference to gross profit. Each of the segments has its own assets, liabilities, revenues and cost of goods sold. While each segment has certain unallocated operating expenses, these expenses are not reviewed by the chief operating decision maker on a segment basis, but rather on a consolidated basis. Financial information for these segments is summarized in the following table: | ||||||||||||||||
Thirteen Weeks Ended | Thirteen Weeks Ended | Thirty-nine Weeks Ended | Thirty-nine Weeks Ended | |||||||||||||
2-Nov-13 | 27-Oct-12 | 2-Nov-13 | 27-Oct-12 | |||||||||||||
(in thousands) | ||||||||||||||||
Net sales: | ||||||||||||||||
Retail | $ | 76,095 | $ | 73,529 | $ | 228,115 | $ | 225,920 | ||||||||
Wholesale | 79,584 | 65,972 | 162,713 | 128,123 | ||||||||||||
$ | 155,679 | $ | 139,501 | $ | 390,828 | $ | 354,043 | |||||||||
Gross profit: | ||||||||||||||||
Retail | $ | 35,498 | $ | 32,910 | $ | 105,435 | $ | 99,326 | ||||||||
Wholesale | 34,869 | 25,285 | 64,567 | 44,242 | ||||||||||||
$ | 70,367 | $ | 58,195 | $ | 170,002 | $ | 143,568 | |||||||||
November 2, 2013 | February 2, 2013 | |||||||||||||||
Total assets: | ||||||||||||||||
Wholesale | $ | 616,450 | $ | 511,265 | ||||||||||||
Retail | 375,931 | 347,492 | ||||||||||||||
992,381 | 858,757 | |||||||||||||||
Eliminations (a) | (499,418 | ) | (439,153 | ) | ||||||||||||
Consolidated assets | $ | 492,963 | $ | 419,604 | ||||||||||||
(a) | Adjustment to eliminate intercompany receivables and investment in subsidiaries |
Acquisition_of_Parlux_Tables
Acquisition of Parlux (Tables) | 9 Months Ended | |||
Nov. 02, 2013 | ||||
NOTE 2 - ACQUISITION OF PARLUX [Abstract] | ' | |||
Business Acquisition, Pro Forma Information [Table Text Block] | ' | |||
Accordingly, the unaudited pro forma financial information below is not necessarily indicative of either future results of operations or results that might have been achieved had the acquisition been consummated as of January 28, 2012. | ||||
Pro Forma | ||||
Thirty-nine Weeks Ended | ||||
27-Oct-12 | ||||
(in thousands, except per share data) | ||||
Net sales | $ | 373,248 | ||
Net loss | (38,922 | ) | ||
Net loss per share - basic | $ | (2.90 | ) | |
Net loss per share - diluted | (2.90 | ) |
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 6 Months Ended | 9 Months Ended | |||||||||||||||||||||||||||||
Aug. 03, 2013 | Nov. 02, 2013 | ||||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' | |||||||||||||||||||||||||||||
Schedule of Intangible Assets and Goodwill [Table Text Block] | ' | ' | |||||||||||||||||||||||||||||
The following table provides information related to goodwill and intangible assets (in thousands). Intangible assets are included in intangible and other assets, net on the accompanying condensed consolidated balance sheets as of November 2, 2013 and February 2, 2013: | |||||||||||||||||||||||||||||||
November 2, 2013 | 2-Feb-13 | ||||||||||||||||||||||||||||||
Useful Life | Original | Accumulated | Net Book | Original | Accumulated | Net Book | |||||||||||||||||||||||||
(years) | Cost | Amortization | Value | Cost | Amortization | Value | |||||||||||||||||||||||||
Goodwill | N/A | $ | 38,769 | $ | — | $ | 38,769 | $ | 38,769 | $ | — | $ | 38,769 | ||||||||||||||||||
Tradenames | 20-Jul | 9,408 | 7,016 | 2,392 | 9,408 | 6,754 | 2,654 | ||||||||||||||||||||||||
Customer relationships | 10 | 5,171 | 819 | 4,352 | 5,171 | 431 | 4,740 | ||||||||||||||||||||||||
Favorable leases | 7 | 886 | 580 | 306 | 886 | 485 | 401 | ||||||||||||||||||||||||
License agreements | 4-Jan | 19,505 | 10,053 | 9,452 | 19,505 | 5,901 | 13,604 | ||||||||||||||||||||||||
Tradename (non-amortizing) | N/A | 8,500 | — | 8,500 | 8,500 | — | 8,500 | ||||||||||||||||||||||||
$ | 82,239 | $ | 18,468 | $ | 63,771 | $ | 82,239 | $ | 13,571 | $ | 68,668 | ||||||||||||||||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | ' | ' | |||||||||||||||||||||||||||||
As of November 2, 2013, estimated future amortization expense associated with intangible assets subject to amortization is as follows (in thousands): | |||||||||||||||||||||||||||||||
Fiscal Year | Amortization | ||||||||||||||||||||||||||||||
Expense | |||||||||||||||||||||||||||||||
Remainder of 2013 | $ | 1,222 | |||||||||||||||||||||||||||||
2014 | 4,842 | ||||||||||||||||||||||||||||||
2015 | 4,296 | ||||||||||||||||||||||||||||||
2016 | 1,726 | ||||||||||||||||||||||||||||||
2017 | 1,211 | ||||||||||||||||||||||||||||||
2018 | 890 | ||||||||||||||||||||||||||||||
Thereafter | 2,315 | ||||||||||||||||||||||||||||||
$ | 16,502 | ||||||||||||||||||||||||||||||
Accounting_For_ShareBased_Paym1
Accounting For Share-Based Payments (Tables) | 6 Months Ended | 9 Months Ended | ||||||||||||
Aug. 03, 2013 | Nov. 02, 2013 | |||||||||||||
ACCOUNTING FOR SHARE-BASED PAYMENTS [Abstract] | ' | ' | ||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ' | ||||||||||||
The following is a summary of the stock option activity during the thirty-nine weeks ended November 2, 2013: | ||||||||||||||
Number of | Weighted | Weighted | Aggregate | |||||||||||
Shares | Average | Average | Intrinsic | |||||||||||
Exercise Price | Remaining | Value | ||||||||||||
Contractual | (in thousands) | |||||||||||||
Life | ||||||||||||||
Outstanding as of February 2, 2013 | 1,243,674 | $ | 8.27 | |||||||||||
Granted | — | — | ||||||||||||
Exercised | (6,767 | ) | 3.46 | |||||||||||
Forfeited | (47,389 | ) | 6.65 | |||||||||||
Outstanding as of November 2, 2013 | 1,189,518 | $ | 8.36 | 6.1 | $ | 165 | ||||||||
Vested and expected to vest as of November 2, 2013 | 1,043,684 | $ | 8.24 | 6.1 | $ | 165 | ||||||||
Exercisable as of November 2, 2013 | 1,043,684 | $ | 8.24 | 6.1 | $ | 165 | ||||||||
Schedule of Share-based Compensation, Activity [Table Text Block] | ' | ' | ||||||||||||
The following is a summary of stock warrants activity during the thirty-nine weeks ended November 2, 2013: | ||||||||||||||
Number of | Weighted | Weighted | Aggregate | |||||||||||
Warrants | Average | Average | Intrinsic | |||||||||||
Exercise Price | Remaining | Value | ||||||||||||
Contractual | (in thousands) | |||||||||||||
Life | ||||||||||||||
Outstanding as of February 2, 2013 | 6,305,304 | $ | 11.79 | |||||||||||
Granted | — | — | ||||||||||||
Exercised | (5,333 | ) | 3.38 | |||||||||||
Forfeited | — | — | ||||||||||||
Outstanding as of November 2, 2013 | 6,299,971 | $ | 11.8 | 4.6 | $ | — | ||||||||
Vested as of November 2, 2013 | 6,299,971 | $ | 11.8 | 4.6 | $ | — | ||||||||
Exercisable as of November 2, 2013 | 6,299,971 | $ | 11.8 | 4.6 | $ | — | ||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | ' |
Revolving_Credit_Facility_and_1
Revolving Credit Facility and Notes Payable to Affiliates (Tables) | 6 Months Ended | |||||||
Aug. 03, 2013 | ||||||||
REVOLVING CREDIT FACILITY AND NOTES PAYABLE TO AFFILIATES [Abstract] | ' | |||||||
Schedule of Debt [Table Text Block] | ' | |||||||
The Company’s revolving credit facility and notes payable to affiliates consist of the following: | ||||||||
November 2, 2013 | February 2, 2013 | |||||||
(in thousands) | ||||||||
Revolving credit facility, interest payable monthly, secured by a pledge of substantially all of the Company's assets | $ | 114,938 | $ | 61,071 | ||||
Subordinated notes payable-affiliates | 125,366 | 125,366 | ||||||
240,304 | 186,437 | |||||||
Less current portion | — | — | ||||||
Total long-term debt | $ | 240,304 | $ | 186,437 | ||||
Related_Party_Transactions_Tab
Related Party Transactions (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Nov. 02, 2013 | |||||||||||||||||||||||||
Related Party Transactions [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Related Party Transactions [Table Text Block] | ' | ||||||||||||||||||||||||
Transactions for merchandise purchases with these related companies during the thirteen and thirty-nine weeks ended November 2, 2013 and October 27, 2012 were as follows: | |||||||||||||||||||||||||
Total Purchases | Total Purchases | Total Purchases | Total Purchases | Balance Due | Balance Due | ||||||||||||||||||||
Thirteen Weeks Ended | Thirteen Weeks Ended | Thirty-nine Weeks Ended | Thirty-nine Weeks Ended | 2-Nov-13 | 2-Feb-13 | ||||||||||||||||||||
2-Nov-13 | 27-Oct-12 | 2-Nov-13 | 27-Oct-12 | ||||||||||||||||||||||
Parlux | $ | — | $ | — | $ | — | $ | 6,771 | -1 | $ | — | -2 | $ | — | -2 | ||||||||||
Lighthouse Companies | 3,164 | 6,545 | 10,385 | 9,733 | 749 | 868 | |||||||||||||||||||
Jacavi Beauty Supply, LLC | 202 | 901 | 619 | 3,658 | — | 1 | |||||||||||||||||||
Ricky's | — | — | — | — | — | (23 | ) | ||||||||||||||||||
Cloudbreak Holdings, LLC | 75 | — | 821 | — | — | 103 | |||||||||||||||||||
$ | 3,441 | $ | 7,446 | $ | 11,825 | $ | 20,162 | $ | 749 | $ | 949 | ||||||||||||||
(1)Represents purchases from Parlux prior to April 18, 2012, when the Company acquired Parlux. | |||||||||||||||||||||||||
-2 | Since the Company acquired Parlux on April 18, 2012, the balance due to Parlux was eliminated in consolidation as of November 2, 2013 and February 2, 2013. |
Segment_Information_Tables
Segment Information (Tables) | 9 Months Ended | |||||||||||||||
Nov. 02, 2013 | ||||||||||||||||
SEGMENT INFORMATION [Abstract] | ' | |||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | ' | |||||||||||||||
Financial information for these segments is summarized in the following table: | ||||||||||||||||
Thirteen Weeks Ended | Thirteen Weeks Ended | Thirty-nine Weeks Ended | Thirty-nine Weeks Ended | |||||||||||||
2-Nov-13 | 27-Oct-12 | 2-Nov-13 | 27-Oct-12 | |||||||||||||
(in thousands) | ||||||||||||||||
Net sales: | ||||||||||||||||
Retail | $ | 76,095 | $ | 73,529 | $ | 228,115 | $ | 225,920 | ||||||||
Wholesale | 79,584 | 65,972 | 162,713 | 128,123 | ||||||||||||
$ | 155,679 | $ | 139,501 | $ | 390,828 | $ | 354,043 | |||||||||
Gross profit: | ||||||||||||||||
Retail | $ | 35,498 | $ | 32,910 | $ | 105,435 | $ | 99,326 | ||||||||
Wholesale | 34,869 | 25,285 | 64,567 | 44,242 | ||||||||||||
$ | 70,367 | $ | 58,195 | $ | 170,002 | $ | 143,568 | |||||||||
November 2, 2013 | February 2, 2013 | |||||||||||||||
Total assets: | ||||||||||||||||
Wholesale | $ | 616,450 | $ | 511,265 | ||||||||||||
Retail | 375,931 | 347,492 | ||||||||||||||
992,381 | 858,757 | |||||||||||||||
Eliminations (a) | (499,418 | ) | (439,153 | ) | ||||||||||||
Consolidated assets | $ | 492,963 | $ | 419,604 | ||||||||||||
(a) | Adjustment to eliminate intercompany receivables and investment in subsidiaries |
Basis_of_Presentation_and_Oper1
Basis of Presentation and Operations (Details) | 6 Months Ended | 9 Months Ended | |||
Aug. 03, 2013 | Nov. 02, 2013 | Nov. 02, 2013 | Nov. 02, 2013 | Nov. 02, 2013 | |
segment | Subsidaries, Perfumania [Member] | Subsidiaries, Scents of Worth [Member] | Subsidiaries, Scents of Worth [Member] | Maximum [Member] | |
subsidiary | store | store | Kmart [Member] | Subsidaries, Perfumania [Member] | |
store | |||||
Subsidiaries [Line Items] | ' | ' | ' | ' | ' |
Number of subsidiaries | 6 | ' | ' | ' | ' |
Number of Operating Segments | 2 | ' | ' | ' | ' |
Product Pricing, Discount from Manufacturer's Suggested Retail Price | ' | ' | ' | ' | 75.00% |
Number of Stores | ' | 335 | 2,400 | 1,200 | ' |
Acquisition_of_Parlux_Textuals
Acquisition of Parlux - Textuals (Details) (USD $) | 3 Months Ended | 9 Months Ended | 0 Months Ended | 6 Months Ended | |||||||
Share data in Thousands, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 | Feb. 02, 2013 | Apr. 18, 2012 | Jul. 28, 2012 | Apr. 18, 2012 | Aug. 03, 2013 | Apr. 18, 2012 | Apr. 18, 2012 |
Parlux [Member] | Parlux [Member] | Director [Member] | Licensor Group [Member] | Artistic Brands, shawn carter [Member] | Garcia Group and Artistic Brands [Member] | ||||||
Parlux [Member] | Parlux [Member] | Licensor Group [Member] | Licensor Group [Member] | ||||||||
Parlux [Member] | Parlux [Member] | ||||||||||
Business Combination, Separately Recognized Transactions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Acquisitions | ' | ' | ' | ' | ' | 300,000 | 6,014 | ' | ' | ' | ' |
Business Acquisition, Cost of Acquired Entity, Purchase Price | ' | ' | ' | ' | ' | ' | $62,100,000 | ' | ' | ' | ' |
Warrants issued | ' | ' | ' | ' | ' | ' | ' | 5,333 | ' | 1,599,999 | 3,199,972 |
Class of Warrant or Right, Exercise Price of Warrants or Rights | ' | ' | ' | ' | ' | ' | ' | ' | 8 | ' | ' |
Amortization of Intangible Assets | 1,400,000 | 1,800,000 | 4,900,000 | 4,700,000 | ' | ' | ' | ' | ' | ' | ' |
Goodwill | $38,769,000 | ' | $38,769,000 | ' | $38,769,000 | ' | ' | ' | ' | ' | ' |
Acquisition_of_Parlux_Purchase
Acquisition of Parlux - Purchase Price Computation (Details) (Parlux [Member]) | 0 Months Ended | 6 Months Ended |
In Thousands, unless otherwise specified | Apr. 18, 2012 | Jul. 28, 2012 |
Parlux [Member] | ' | ' |
Business Acquisition, Equity Interests Issued or Issuable [Line Items] | ' | ' |
Stock Issued During Period, Shares, Acquisitions | 300,000 | 6,014 |
Acquisition_of_Parlux_Future_A
Acquisition of Parlux - Future Amortization of Acquired Intangibles (Details) (USD $) | Aug. 03, 2013 |
In Thousands, unless otherwise specified | |
Business Acquisition [Line Items] | ' |
Future Amortization Expense, Remainder of Fiscal Year | $1,222 |
Future Amortization Expense, Year One | 4,842 |
Future Amortization Expense, Year Two | 4,296 |
Future Amortization Expense, Year Three | 1,726 |
Future Amortization Expense, Year Four | 1,211 |
Future Amortization Expense, Year Five | 890 |
Future Amortization Expense, after Year Five | 2,315 |
Finite-Lived Intangible Assets, Future Amortization Expense | $16,502 |
Acquisition_of_Parlux_Pro_Form
Acquisition of Parlux - Pro Forma Information (Details) (Parlux [Member], USD $) | 9 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Oct. 27, 2012 |
Parlux [Member] | ' |
Business Acquisition [Line Items] | ' |
Business Acquisition, Pro Forma Revenue | $373,248 |
Business Acquisition, Pro Forma Net Income (Loss) | ($38,922) |
Business Acquisition, Pro Forma Earnings Per Share, Basic | ($2.90) |
Business Acquisition, Pro Forma Earnings Per Share, Diluted | ($2.90) |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets - Intangible Assets (Details) (USD $) | 3 Months Ended | 9 Months Ended | 6 Months Ended | 6 Months Ended | 6 Months Ended | ||||||||||||||||||
Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 | Aug. 03, 2013 | Feb. 02, 2013 | Nov. 02, 2013 | Feb. 02, 2013 | Aug. 03, 2013 | Nov. 02, 2013 | Feb. 02, 2013 | Aug. 03, 2013 | Nov. 02, 2013 | Feb. 02, 2013 | Nov. 02, 2013 | Feb. 02, 2013 | Nov. 02, 2013 | Aug. 03, 2013 | Feb. 02, 2013 | Aug. 03, 2013 | Aug. 03, 2013 | Aug. 03, 2013 | Aug. 03, 2013 | |
Trade Names [Member] | Trade Names [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Lease Agreements [Member] | Lease Agreements [Member] | Lease Agreements [Member] | Licensing Agreements [Member] | Licensing Agreements [Member] | Trademarks [Member] | Trademarks [Member] | Trademarks [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | |||||||
Trade Names [Member] | Licensing Agreements [Member] | Trade Names [Member] | Licensing Agreements [Member] | ||||||||||||||||||||
Schedule of Goodwill and Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of Intangible Assets | $1,400,000 | $1,800,000 | $4,900,000 | $4,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill, Gross | 38,769,000 | ' | 38,769,000 | ' | ' | 38,769,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill | 38,769,000 | ' | 38,769,000 | ' | ' | 38,769,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Useful Life, Minimum | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | '7 years | ' | ' | ' | ' | ' | ' | ' | '7 years | '1 year | '20 years | '4 years |
Finite-Lived Intangible Assets, Gross | 82,239,000 | ' | 82,239,000 | ' | ' | 82,239,000 | 9,408,000 | 9,408,000 | ' | 5,171,000 | 5,171,000 | ' | 886,000 | 886,000 | 19,505,000 | 19,505,000 | 8,500,000 | ' | 8,500,000 | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Accumulated Amortization | 18,468,000 | ' | 18,468,000 | ' | ' | 13,571,000 | 7,016,000 | 6,754,000 | ' | 819,000 | 431,000 | ' | 580,000 | 485,000 | 10,053,000 | 5,901,000 | 0 | ' | 0 | ' | ' | ' | ' |
Intangible Assets, Net (Excluding Goodwill) | ' | ' | ' | ' | $63,771,000 | $68,668,000 | $2,392,000 | $2,654,000 | ' | $4,352,000 | $4,740,000 | ' | $306,000 | $401,000 | $9,452,000 | $13,604,000 | ' | $8,500,000 | $8,500,000 | ' | ' | ' | ' |
Goodwill_and_Intangible_Assets3
Goodwill and Intangible Assets - Schedule of Future Amortization (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 | Aug. 03, 2013 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' | ' | ' | ' |
Amortization of Intangible Assets | $1,400,000 | $1,800,000 | $4,900,000 | $4,700,000 | ' |
Future Amortization Expense, Remainder of Fiscal Year | ' | ' | ' | ' | 1,222,000 |
2013 | ' | ' | ' | ' | 4,842,000 |
2014 | ' | ' | ' | ' | 4,296,000 |
Future Amortization Expense, Year Three | ' | ' | ' | ' | 1,726,000 |
Future Amortization Expense, Year Four | ' | ' | ' | ' | 1,211,000 |
Future Amortization Expense, Year Five | ' | ' | ' | ' | 890,000 |
Future Amortization Expense, after Year Five | ' | ' | ' | ' | 2,315,000 |
Finite-Lived Intangible Assets, Future Amortization Expense | ' | ' | ' | ' | $16,502,000 |
Goodwill_and_Intangible_Assets4
Goodwill and Intangible Assets - Textuals (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 | Feb. 02, 2013 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' | ' | ' | ' |
Amortization of Intangible Assets | $1,400,000 | $1,800,000 | $4,900,000 | $4,700,000 | ' |
Goodwill | $38,769,000 | ' | $38,769,000 | ' | $38,769,000 |
Accounting_For_ShareBased_Paym2
Accounting For Share-Based Payments - Options (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, except Share data, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Jul. 28, 2012 | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Feb. 02, 2013 | |
Stock Options [Member] | Stock Options [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | |
Allocated Share-based Compensation Expense | $105 | ($151) | ($151) | $312 | $4,268 | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | ' | ' | ' | ' | ' | 1,243,674 | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | ' | ' | ' | ' | ' | 0 | [1] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | ' | ' | ' | ' | ' | -6,767 | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | ' | ' | ' | ' | ' | $8.36 | $8.27 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | ' | ' | ' | ' | ' | '6 years 1 month 6 days | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | ' | ' | ' | ' | ' | 165 | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | ' | ' | ' | ' | ' | 1,189,518 | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | ' | ' | ' | ' | ' | $0 | [1] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | ' | ' | ' | ' | ' | $3.46 | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | ' | ' | ' | ' | ' | -47,389 | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | ' | ' | ' | ' | ' | $6.65 | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | ' | ' | ' | ' | ' | 1,043,684 | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | ' | ' | ' | ' | ' | $8.24 | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | ' | ' | ' | ' | ' | '6 years 1 month 6 days | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | ' | ' | ' | ' | ' | 165 | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | ' | ' | ' | ' | ' | 1,043,684 | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | ' | ' | ' | ' | ' | $8.24 | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | ' | ' | ' | ' | ' | '6 years 1 month 6 days | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | ' | ' | ' | ' | ' | $0 | ' | |
[1] |
Accounting_For_ShareBased_Paym3
Accounting For Share-Based Payments - Warrants (Details) (Warrant [Member], USD $) | 9 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Nov. 02, 2013 | Aug. 03, 2013 | Feb. 02, 2013 | |
Warrant [Member] | ' | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 6,299,971 | ' | 6,305,304 | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Weighted Average Exercise Price | $11.80 | ' | $11.79 | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Weighted Average Remaining Contractual Term | '4 years 7 months 6 days | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Intrinsic Value | ' | $0 | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted | 0 | [1] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Grants in Period, Weighted Average Exercise Price | $0 | [1] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercised | -5,333 | ' | ' | |
Share-based Compensation Arrangements by Share-based Payment Award, Non-Option Equity Instruments, Exercises in Period, Weighted Average Exercise Price | $3.38 | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Forfeitures | 0 | ' | ' | |
Share-based Compensation Arrangements by Share-based Payment Award, Non-Option Equity Instruments, Forfeitures in Period, Weighted Average Exercise Price | $0 | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Vested, Number | 6,299,971 | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Vested, Weighted Average Exercise Price | $11.80 | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Vested, Weighted Average Remaining Contractual Term | '4 years 7 months 6 days | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Vested, Intrinsic Value | ' | 0 | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercisable, Intrinsic Value | ' | $0 | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercisable, Number | 6,299,971 | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercisable, Weighted Average Exercise Price | $11.80 | ' | ' | |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercisable, Weighted Average Remaining Contractual Term | '4 years 7 months 6 days | ' | ' | |
[1] |
Accounting_For_ShareBased_Paym4
Accounting For Share-Based Payments - Fair Value Valuation of Options (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Jul. 28, 2012 | Nov. 02, 2013 | Oct. 27, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' |
Share-based compensation expense | $105 | ($151) | ($151) | $312 | $4,268 |
Accounting_For_ShareBased_Paym5
Accounting For Share-Based Payments - Textuals (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, except Share data, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Jul. 28, 2012 | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Nov. 02, 2013 | Feb. 02, 2013 |
The 2010 Plan [Member] | Stock Options [Member] | Stock Options [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,000,000 | ' | ' | 1,000,000 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Annual Percentage Increase in Shares Authorized | ' | ' | ' | 1.50% | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options | 1,499,221 | ' | ' | 1,499,221 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | ' | ' | ' | ' | ' | 707,613 | 1,189,518 | 1,243,674 |
Share-based compensation expense | $105 | ($151) | ($151) | $312 | $4,268 | ' | ' | ' |
Revolving_Credit_Facility_and_2
Revolving Credit Facility and Notes Payable to Affiliates - Schedule (Details) (USD $) | Nov. 02, 2013 | Feb. 02, 2013 |
In Thousands, unless otherwise specified | ||
REVOLVING CREDIT FACILITY AND NOTES PAYABLE TO AFFILIATES [Abstract] | ' | ' |
Revolving credit facility interest payable monthly, secured by a pledge of substantially all of the Company’s assets | $114,938 | $61,071 |
Subordinated notes payable, affiliates | 125,366 | 125,366 |
Debt, current and noncurrent | 240,304 | 186,437 |
Less current portion | 0 | 0 |
Total long-term debt | $240,304 | $186,437 |
Revolving_Credit_Facility_and_3
Revolving Credit Facility and Notes Payable to Affiliates - Textuals (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 9 Months Ended | ||||||||||||||
Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 | Feb. 02, 2013 | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 | Feb. 02, 2013 | Nov. 02, 2013 | Nov. 02, 2013 | Nov. 02, 2013 | Nov. 02, 2013 | Nov. 02, 2013 | Nov. 02, 2013 | Apr. 18, 2012 | Nov. 02, 2013 | Apr. 17, 2012 | Nov. 02, 2013 | Nov. 02, 2013 | Nov. 02, 2013 | |
Notes Payable, Related Parties [Member] | Notes Payable, Related Parties [Member] | Notes Payable, Related Parties [Member] | Notes Payable, Related Parties [Member] | Notes Payable, Related Parties [Member] | Reference Rate, LIBOR [Member] | Reference Rate, Base Rate [Member] | Parent Company and Domestic Subsidiaries [Member] | Foreign Subsidiaries [Member] | Affiliates, Quality King Distributors, Inc. [Member] | Affiliates, Quality King Distributors, Inc. [Member] | Nussdorf Trusts [Member] | Nussdorf Trusts [Member] | Nussdorf Trusts [Member] | Nussdorf Trusts [Member] | Glenn and Stephen Nussdorf [Member] | Glenn and Stephen Nussdorf [Member] | ||||||
Notes Payable, Related Parties [Member] | real_estate_trust | Notes Payable, Related Parties [Member] | Notes Payable, Related Parties [Member] | |||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Maximum Borrowing Capacity | $225,000,000 | ' | $225,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Covenant Terms, Minimum Availability | 10,000,000 | ' | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Remaining Borrowing Capacity | 40,700,000 | ' | 40,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Merger related expenses | 0 | 53,000 | 0 | 4,628,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Interest Rate at Period End | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.90% | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of Credit Facility, Collateral, Percent of Outstanding Equity Interests in Subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 66.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Notes payable, affiliates | 125,366,000 | ' | 125,366,000 | ' | 125,366,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35,000,000 | ' | ' | 85,400,000 | 55,400,000 | ' | 5,000,000 | ' |
Related Parties, Number of Estate Trusts Holding Notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6 | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Increase | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% |
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | 2.00% | ' | 1.00% |
Debt Instrument, Interest Payments, Covenant Terms, Minimum Availability of Revolving Credit Facility, Alternative | ' | ' | ' | ' | ' | 17,500,000 | ' | 17,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Payments, Covenant Terms, Minimum Availability of Revolving Credit Facility, Percent of Borrowing Base, Alternative | ' | ' | ' | ' | ' | 17.50% | ' | 17.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Covenant Terms, Minimum Fixed Charge Coverage Ratio | ' | ' | ' | ' | ' | ' | ' | 1.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Related Party Debt | ' | ' | 0 | 30,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,000,000 | ' | ' | ' | ' | ' |
Interest expense | 2,809,000 | 2,509,000 | 7,755,000 | 6,597,000 | ' | 1,500,000 | 1,500,000 | 4,600,000 | 4,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Payable | ' | ' | ' | ' | ' | $32,100,000 | ' | $32,100,000 | ' | $27,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounting_for_Income_Taxes_De
Accounting for Income Taxes (Details) (USD $) | Jan. 28, 2012 | Oct. 30, 2010 |
In Millions, unless otherwise specified | Internal Revenue Service (IRS) [Member] | Operating Loss Carryback [Member] |
Income Taxes [Line Items] | ' | ' |
Income Tax Expense (Benefit) | ' | $2.50 |
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority | $2.40 | ' |
Basic_and_Diluted_Net_Loss_Per1
Basic and Diluted Net Loss Per Common Share (Details) | 3 Months Ended | 9 Months Ended | |||
Nov. 02, 2013 | Oct. 27, 2012 | Jul. 28, 2012 | Nov. 02, 2013 | Oct. 27, 2012 | |
BASIC AND DILUTED NET LOSS PER COMMON SHARE [Abstract] | ' | ' | ' | ' | ' |
Weighted average number of shares - basic | 15,355,656 | 15,303,800 | ' | 15,354,072 | 13,442,162 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 7,255,094 | 7,550,518 | 7,550,518 | 7,489,489 | ' |
Common stock equivalents | 41,274 | 0 | ' | 0 | 0 |
Weighted average number of shares - diluted | 15,396,930 | 15,303,800 | ' | 15,354,072 | 13,442,162 |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 | Aug. 03, 2013 | Feb. 02, 2013 | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ||
Selling, general and administrative expenses | $57,323 | $57,473 | $166,480 | $154,754 | ' | ' | ||
Related Party Transaction, Purchases from Related Party | 3,441 | 7,446 | 11,825 | 20,162 | ' | ' | ||
Due to Related Parties, Current | ' | ' | ' | ' | 749 | 949 | ||
Affiliates, Quality King Distributors, Inc. [Member] | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ||
Selling, general and administrative expenses | 100 | 200 | 300 | 500 | ' | ' | ||
Subsidiaries, Parlux [Member] | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction, Purchases from Related Party | 0 | 0 | ' | ' | ' | ' | ||
Due to Related Parties, Current | 0 | [1] | ' | 0 | [1] | ' | ' | 0 |
Parlux [Member] | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction, Purchases from Related Party | ' | ' | 0 | 6,771 | ' | ' | ||
Affiliates, Lighthouse [Member] | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction, Purchases from Related Party | 3,164 | 6,545 | 10,385 | 9,733 | ' | ' | ||
Due to Related Parties, Current | 749 | ' | 749 | ' | ' | 868 | ||
Affiliates, Jacavie [Member] | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction, Purchases from Related Party | 202 | 901 | 619 | 3,658 | ' | ' | ||
Due to Related Parties, Current | 0 | ' | 0 | ' | ' | 1 | ||
Affiliates, Rickys [Domain] | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction, Purchases from Related Party | ' | ' | 0 | 0 | ' | ' | ||
Due to Related Parties, Current | 0 | ' | 0 | ' | ' | -23 | ||
Affiliates, Cloudbreak [Member] | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ||
Related Party Transaction, Purchases from Related Party | 75 | ' | 821 | 0 | ' | ' | ||
Due to Related Parties, Current | $0 | ' | $0 | ' | ' | $103 | ||
[1] | Since the Company acquired Parlux on April 18, 2012, the balance due to Parlux was eliminated in consolidation as of November 2, 2013 and February 2, 2013. |
Related_Party_Transactions_Tex
Related Party Transactions - Textuals (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 | |
Related Party Transaction [Line Items] | ' | ' | ' | ' |
Due from Related Parties, Current | $200,000 | ' | $200,000 | ' |
Selling, general and administrative expenses | 57,323,000 | 57,473,000 | 166,480,000 | 154,754,000 |
Glenn, Stephen and Arlene Nussdorf [Member] | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' |
Investment Owned, Balance, Shares | 7,742,282 | ' | 7,742,282 | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 50.40% | ' | 50.40% | ' |
Affiliates, Rene Garcia Entitites [Member] | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 14.40% | ' | 14.40% | ' |
Noncontrolling Interest, Ownership by Noncontrolling Owners, Shares | 2,211,269 | ' | 2,211,269 | ' |
Affiliates, GSN [Member] | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' |
Shipping, Handling and Transportation Costs | ' | ' | 100,000 | ' |
Affiliates, Quality King Distributors, Inc. [Member] | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' |
Square Footage of Real Estate Property | 560,000 | ' | 560,000 | ' |
Selling, General and Administrative Expense, Administrative Fee, Percent | ' | ' | 2.00% | ' |
Selling, general and administrative expenses | 100,000 | 200,000 | 300,000 | 500,000 |
Due to Affiliate, Current | 100,000 | ' | 100,000 | ' |
Building [Member] | Affiliates, Quality King Distributors, Inc. [Member] | ' | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' | ' |
Operating Leases, Rent Expense, Monthly | ' | ' | 215,000 | ' |
Operating Leases, Rent Expense, Annual Increase | ' | ' | 3.00% | ' |
Payments for Operating Sublease | $600,000 | $700,000 | $2,000,000 | $2,100,000 |
Segment_Information_Details
Segment Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||||||
In Thousands, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Jul. 28, 2012 | Nov. 02, 2013 | Oct. 27, 2012 | Feb. 02, 2013 | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | |||
Revenue from External Customers | $155,679 | ' | $139,501 | $390,828 | $354,043 | ' | |||
Gross Profit | 70,367 | 58,195 | ' | 170,002 | 143,568 | ' | |||
Assets | 492,963 | ' | ' | 492,963 | ' | 419,604 | |||
Retail Segment [Member] | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | |||
Revenue from External Customers | 76,095 | 73,529 | ' | 162,713 | 225,920 | ' | |||
Gross Profit | 35,498 | 32,910 | ' | 105,435 | 99,326 | ' | |||
Assets | 375,931 | ' | ' | 375,931 | ' | 347,492 | |||
Wholesale Segment [Member] | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | |||
Revenue from External Customers | 79,584 | 65,972 | ' | 228,115 | 128,123 | ' | |||
Gross Profit | 34,869 | 25,285 | ' | 64,567 | 44,242 | ' | |||
Assets | 616,450 | ' | ' | 616,450 | ' | 511,265 | |||
Operating Segments [Member] | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | |||
Assets | 992,381 | ' | ' | 992,381 | ' | 858,757 | |||
Intersegment Elimination [Member] | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | |||
Assets | ($499,418) | [1] | ' | ' | ($499,418) | [1] | ' | ($439,153) | [1] |
[1] | Adjustment to eliminate intercompany receivables and investment in subsidiaries |