Hampshire Inactive 10-Q12 Aug 142014 Q2 Quarterly reportFinancial data

Company Profile

Document_And_Entity_Informatio

Document And Entity Information	6 Months Ended
Document And Entity Information	Jun. 28, 2014	Jul. 31, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'HAMPSHIRE GROUP LTD	'
Document Type	'10-Q	'
Current Fiscal Year End Date	'--12-31	'
Entity Common Stock, Shares Outstanding	'	8,485,795
Amendment Flag	'false	'
Entity Central Index Key	'0000887150	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Well-known Seasoned Issuer	'No	'
Document Period End Date	28-Jun-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'

Unaudited_Condensed_Consolidat

Unaudited Condensed Consolidated Balance Sheets (USD $)	Jun. 28, 2014	Dec. 31, 2013
Current assets:	'	'
Cash and cash equivalents	$649,000	$1,385,000
Accounts receivable, net of allowances of $794 and $3,765 as of June 28, 2014 and December 31, 2013, respectively	7,922,000	15,458,000
Other receivables	240,000	250,000
Inventories, net	20,282,000	18,607,000
Other current assets	6,339,000	5,240,000
Assets of discontinued operations	'	177,000
Total current assets	35,432,000	41,117,000
Fixed assets, net	4,179,000	4,559,000
Goodwill	880,000	460,000
Intangible assets, net	13,602,000	13,082,000
Other assets	550,000	847,000
Total assets	54,643,000	60,065,000
Current liabilities:	'	'
Borrowings under credit facility	6,758,000	9,187,000
Accounts payable	9,407,000	4,201,000
Accrued expenses and other liabilities	7,022,000	6,276,000
Liabilities of discontinued operations	'	770,000
Total current liabilities	23,187,000	20,434,000
Long-term debt	3,000,000	3,000,000
Other long-term liabilities	14,324,000	14,366,000
Total liabilities	40,511,000	37,800,000
Commitments and contingencies (Note 8)	'	'
Stockholdersâ€™ equity:	'	'
Common stock, $0.10 par value, 13,333,333 shares authorized; 9,231,822 and 9,211,672 shares issued as of June 28, 2014 and December 31, 2013, respectively	923,000	921,000
Additional paid-in capital	42,174,000	41,436,000
Deficit	-23,475,000	-14,583,000
Treasury stock, 756,408 and 759,015 shares at cost as of June 28, 2014 and December 31, 2013, respectively	-5,490,000	-5,509,000
Total stockholdersâ€™ equity	14,132,000	22,265,000
Total liabilities and stockholdersâ€™ equity	54,643,000	60,065,000
Series A Junior Participating Preferred Stock [Member]	'	'
Stockholdersâ€™ equity:	'	'
Preferred Stock, Value	0	0
Preferred Stock [Member]	'	'
Stockholdersâ€™ equity:	'	'
Preferred Stock, Value	$0	$0

Unaudited_Condensed_Consolidat1

Unaudited Condensed Consolidated Balance Sheets (Parentheticals) (USD $)	Jun. 28, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified	Jun. 28, 2014	Dec. 31, 2013
Accounts receivable, net of allowance (in Dollars)	$794	$3,765
Common stock, par value (in Dollars per share)	$0.10	$0.10
Common stock, shares authorized	13,333,333	13,333,333
Common stock, shares issued	9,231,822	9,211,672
Treasury stock, shares	756,408	759,015
Series A Junior Participating Preferred Stock [Member]	'	'
Preferred Stock, Par Value (in Dollars per share)	$0.10	$0.10
Preferred Stock, Shares Authorized	10,000	10,000
Preferred Stock, Shares Issued	0	0
Preferred Stock [Member]	'	'
Preferred Stock, Par Value (in Dollars per share)	$0.10	$0.10
Preferred Stock, Shares Authorized	1,000,000	1,000,000
Preferred Stock, Shares Issued	0	0

Unaudited_Condensed_Consolidat2

Unaudited Condensed Consolidated Statements of Operations (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 28, 2014	Jun. 29, 2013	Jun. 28, 2014	Jun. 29, 2013
Net sales	$14,699	$26,136	$30,801	$45,050
Cost of goods sold	11,556	20,796	24,549	36,340
Gross profit	3,143	5,340	6,252	8,710
Selling, general and administrative expenses	7,354	8,441	14,634	16,444
Lease litigation settlement	'	-6,113	'	-6,113
Loss on lease obligations (Note 5)	82	520	82	520
(Loss) income from operations	-4,293	2,492	-8,464	-2,141
Other income (expense):	'	'	'	'
Interest income	'	'	'	1
Interest expense	-236	-84	-482	-179
Other, net	77	16	112	54
(Loss) income from continuing operations before income taxes	-4,452	2,424	-8,834	-2,265
Income tax provision	122	122	101	264
(Loss) income from continuing operations	-4,574	2,302	-8,935	-2,529
(Loss) income from discontinued operations, net of taxes	-3	-1,168	62	-1,719
Net (loss) income	($4,577)	$1,134	($8,873)	($4,248)
Basic (loss) income per share:	'	'	'	'
(Loss) income from continuing operations (in Dollars per share)	($0.54)	$0.31	($1.06)	($0.34)
(Loss) income from discontinued operations, net of taxes (in Dollars per share)	'	($0.16)	$0.01	($0.23)
Net (loss) income (in Dollars per share)	($0.54)	$0.15	($1.05)	($0.57)
Diluted (loss) income per share:	'	'	'	'
(Loss) income from continuing operations (in Dollars per share)	($0.54)	$0.30	($1.06)	($0.34)
(Loss) income from discontinued operations, net of taxes (in Dollars per share)	'	($0.15)	$0.01	($0.23)
Net (loss) income (in Dollars per share)	($0.54)	$0.15	($1.05)	($0.57)
Weighted-average number of common shares outstanding:	'	'	'	'
Basic (in Shares)	8,475	7,474	8,469	7,476
Diluted (in Shares)	8,475	7,580	8,469	7,476

Unaudited_Condensed_Consolidat3

Unaudited Condensed Consolidated Statement of Stockholdersb Equity (USD $)	Net Exercise of Stock Options [Member]	Net Exercise of Stock Options [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Total
In Thousands, except Share data	Retained Earnings [Member]	Treasury Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Total
Balance at Dec. 31, 2013	'	'	$921	$41,436	($14,583)	($5,509)	$22,265
Balance (Shares) (in Shares) at Dec. 31, 2013	'	'	9,211,672	'	'	759,015	'
Net loss	'	'	'	'	-8,873	'	-8,873
Stock-based compensation	'	'	'	670	'	'	670
Issuance of common stock to directors in lieu of cash	'	'	2	68	'	'	70
Issuance of common stock to directors in lieu of cash (in Shares)	'	'	20,150	'	'	'	'
Net exercise of stock options	-19	19	'	'	'	'	'
Net exercise of stock options (in Shares)	'	-2,607	'	'	'	'	'
Balance at Jun. 28, 2014	'	'	$923	$42,174	($23,475)	($5,490)	$14,132
Balance (Shares) (in Shares) at Jun. 28, 2014	'	'	9,231,822	'	'	756,408	'

Unaudited_Condensed_Consolidat4

Unaudited Condensed Consolidated Statements of Cash Flows (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 28, 2014	Jun. 29, 2013
Cash flows from operating activities:	'	'
Net loss	($8,873)	($4,248)
Less: Income (loss) from discontinued operations, net of taxes	62	-1,719
Loss from continuing operations	-8,935	-2,529
Adjustments to reconcile loss from continuing operations to net cash provided by (used in) operating activities:	'	'
Depreciation and amortization	1,566	1,737
Lease litigation settlement	'	-6,113
Loss on lease obligations	82	520
Stock-based compensation	670	-227
Deferred income taxes	65	127
Loss on disposal of fixed assets	'	201
Changes in operating assets and liabilities:	'	'
Receivables, net	7,546	-3,248
Inventories, net	-1,675	-4,082
Other assets	-842	-681
Liabilities	4,313	5,491
Net cash provided by (used in) continuing operating activities	2,790	-8,804
Net cash used in operating activities of discontinued operations	-531	-993
Net cash provided by (used in) operating activities	2,259	-9,797
Cash flows from investing activities:	'	'
Capital expenditures	-267	-157
Acquisition of business (Note 2)	-300	'
Proceeds from disposal of fixed assets	1	'
Net cash used in investing activities	-566	-157
Cash flows from financing activities:	'	'
Repayments of line of credit, net of proceeds of borrowings	-2,429	'
Net cash used in financing activities	-2,429	'
Net decrease in cash and cash equivalents	-736	-9,954
Cash and cash equivalents at beginning of period	1,385	12,500
Cash and cash equivalents at end of period	649	2,546
Supplemental disclosures of cash flow information:	'	'
Non-cash restricted stock forfeitures	'	368
Issuance Of Common Stock To Directors In Lieu Of Cash [Member]	'	'
Supplemental disclosures of cash flow information:	'	'
Issuance of common stock to directors in lieu of cash	$70	'

Note_1_Basis_of_Presentation

Note 1 - Basis of Presentation	6 Months Ended
Note 1 - Basis of Presentation	Jun. 28, 2014
Disclosure Text Block [Abstract]	'
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	'
	Note 1 – Basis of Presentation

	The accompanying unaudited condensed consolidated financial statements of Hampshire Group, Limited and its subsidiaries (the “Company” or “Hampshire”) have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) for interim financial information and the requirements of the United States Securities and Exchange Commission (the “SEC”) for interim reporting under Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements and should be read in conjunction with the audited financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.

	The information included herein is not necessarily indicative of the annual results that may be expected for the year ending December 31, 2014, but does reflect all adjustments (which are of a normal and recurring nature) considered, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. The preparation of the consolidated financial statements in accordance with GAAP requires management to make accounting estimates based on assumptions, judgments or projections of future results of operations and cash flows. Actual results could differ materially from these estimates under different assumptions or conditions. In addition, the Company’s revenues are subject to the seasonality of the apparel industry, which may result in fluctuations in financial results for interim periods.

	On June 7, 2013, the Company sold certain assets of the scott james clothing brand and line. In accordance with GAAP, the financial position, results of operations and cash flows of this business have been presented as discontinued operations. For additional information, see Note 10 – Discontinued Operations. Additionally, certain prior year amounts in the consolidated financial statements have been reclassified to conform to the 2014 presentation. The reclassifications had no effect on previously-reported net loss or stockholders’ equity.

	In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-08 (“ASU 2014-08”), “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” ASU 2014-08 changes the criteria for determining which disposals can be presented as discontinued operations and modifies the related disclosure requirements. Under the new guidance, a disposal of a component of an entity or a group of components of an entity is required to be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results and is disposed of or classified as held for sale. The standard also introduces several new disclosures. The guidance applies prospectively to new disposals and new classifications of disposal groups as held for sale after the effective date. ASU 2014-08 is effective for annual and interim periods beginning after December 15, 2014, with early adoption permitted. Hampshire will adopt this standard effective January 1, 2014 and does not expect that the adoption will have a material effect on its financial statements.

	In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). The new standard is effective for reporting periods beginning after December 15, 2016 and early adoption is not permitted. The comprehensive new standard will supersede existing revenue recognition guidance and require revenue to be recognized when promised goods or services are transferred to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. Adoption of the new rules could affect the timing of revenue recognition for certain transactions. The guidance permits two implementation approaches, one requiring retrospective application of the new standard with restatement of prior years and one requiring prospective application of the new standard with disclosure of results under old standards. For Hampshire, the new standard will be effective January 1, 2017, and the Company is currently evaluating the impacts of adoption and the implementation approach to be used.

Note_2_Acquisition

Note 2 - Acquisition	6 Months Ended
	Jun. 28, 2014
Business Combinations [Abstract]	'
Business Combination Disclosure [Text Block]	'
	Note 2 – Acquisition

	On February 19, 2014, the Company entered into an Installment Purchase and Sale Agreement (the “Agreement”) with Maverick J, LLC (“Maverick J”) and Maverick J, SPE, LLC (“Maverick SPE,” and collectively with Maverick J, “Seller”), Rick Solomon Enterprises, Inc. and Richard Solomon pursuant to which the Company acquired certain assets of the Seller, including the James Campbell trademarks and brands (subject to a license and deferred transfer as described below) and the following related assets: historical drawings, patterns, designs, teck packs and any other historical and related intellectual property, fabric swatches, library/trim records and certain samples.

	The Company has agreed to pay minimum aggregate purchase price consideration of $1.3 million, of which $300,000 was paid at closing and the balance is payable in installments totaling $500,000 in each of 2015 and 2016. The Company has also agreed to pay Seller for each of the five years following the closing, additional purchase price payments, referred to as “excess payments,” equal to 5% of annual net sales, as defined, in excess of $5.0 million; provided that if and when Seller has received an aggregate of $2.5 million of purchase price (including the excess payments), the excess payment percentage rate will be reduced to 2.5% with respect to all net sales made thereafter.

	The Company has agreed to assume certain licenses of Seller and has also separately agreed to purchase up to 22,000 units of excess finished goods inventory of Maverick J for an amount equal to 115% of invoiced cost.

	The James Campbell trademarks and brands initially will be licensed to the Company on an exclusive basis pursuant to a Master License Agreement dated as of February 19, 2014 (the “License Agreement”) between Maverick SPE and the Company. Title to the trademarks and brands will be transferred to the Company on the date (referred to as the “Slated Transfer Date”) when the Seller has received an aggregate of $1.25 million of purchase price (including excess payments), provided that:

		●	The Company has net worth, excluding goodwill, of $1.25 million and is not in material breach of any of its bank covenants with its lenders; and

		●	No license termination event, as defined, has occurred.

	In the event that the conditions in the two preceding bullets are not satisfied as of the Slated Transfer Date, the License Agreement will continue and title to the James Campbell trademarks and brands will be transferred to the Company on the earlier of:

		●	The date that the Company’s net worth, excluding goodwill, exceeds $2.5 million less the aggregate amount of purchase price and excess payments received by Seller through such date; provided that the Company is not in material breach of any of its bank covenants with its lenders and provided that all payments required to be paid through such date pursuant to the Agreement and the License Agreement have been made by the Company through such date; and

		●	December 31, 2018 (provided that all payments required pursuant to this Agreement and the License Agreement have been made by the Company through such date).

	The License Agreement will terminate upon the first to occur of:

		●	The transfer of the James Campbell trademarks and brands to the Company pursuant to the Purchase Agreement; or

		●	The termination of the License Agreement by Seller as a result of the default by the Company of its payment obligations or a breach by the Company of certain provisions of the Agreement or the License Agreement or of its obligation to purchase the excess inventory.

	The agreements contain other terms typical of transactions of this type, including representations and warranties, indemnification, covenants, events of default and termination.

	The Company acquired the James Campbell business described above as part of its strategy to diversify its product and customer base by adding owned brands to the Company’s portfolio.

	The acquisition of the James Campbell business was accounted for as a business combination in accordance with the acquisition method of accounting pursuant to Financial Accounting Standards Board Accounting Standards Codification 805, “Business Combinations,” which requires recording identifiable assets acquired and liabilities assumed at their fair values, with the excess of the fair value of the consideration transferred over the fair value of the net assets acquired recorded as goodwill.

	The estimated acquisition-date fair value of the total purchase price consideration transferred to acquire the James Campbell business is summarized below:

	(In thousands)
	Minimum consideration:
	Cash paid at closing		$	300
	Liability incurred for installments payable			983
	Liability incurred for contingent consideration (excess payments)			467
	Total purchase price consideration		$	1,750

	The fair value of the installments payable liability was determined by discounting the minimum installment amounts payable as of the acquisition date using a discount rate of 1.1%, which represents the after-tax 2-year BB Industrial Bond Index yield as of the acquisition date (Level 3 of the GAAP fair value hierarchy, or “Level 3”).

	The fair value of the contingent consideration liability was determined by discounting the expected excess payments as of the acquisition date based on projected full year revenues ranging from approximately $7.9 million to approximately $10.2 million and using a discount rate of 17.0%, which represents the estimated weighted-average cost of capital (Level 3). As of June 28, 2014, there was no change in the range of outcomes or discount rate for the contingent consideration liability recognized as of the acquisition date and, as a result, there was no significant change in the recognized amount of the contingent consideration liability.

	As of June 28, 2014, of the total liabilities recorded for the installments payable and contingent consideration payable, approximately $0.4 million is included in Accrued expenses and other liabilities and approximately $1.1 million is included in Other long-term liabilities in the consolidated balance sheet and such amounts approximate fair value.

	In connection with the acquisition of the James Campbell business, the Company assumed no liabilities. Therefore, the total purchase price was allocated to the identifiable assets acquired and was based on the Company’s estimates of their acquisition-date fair values. The allocation of the purchase price to the fair value of the identifiable assets acquired as of the acquisition date is summarized below:

	(In thousands)
	Goodwill		$	420
	Intangible assets:
	Customer relationships			230
	Trade names			1,100
	Total assets acquired		$	1,750

	The goodwill recognized primarily represents expected synergies from the Company’s sourcing relationships, as well as the creative design and industry expertise of the assembled workforce related to the James Campbell business. None of the goodwill recognized is expected to be deductible for tax purposes.

	The Company identified intangible assets related to customer relationships and trade names, which will be amortized on a straight-line basis over their estimated useful lives of 10 years and 12 years, respectively. The fair value of these intangible assets was determined based on the discounted cash flow method (Level 3).

	As discussed above, the Company has also separately agreed to purchase certain excess finished goods inventory of Maverick J. As of June 28, 2014, the Company had purchased approximately $113,000 of such inventory, which was accounted for separately from the business combination and recorded at cost in Inventories, net in the consolidated balance sheet.

	The results of operations related to the James Campbell business have been included in the consolidated financial statements beginning on the acquisition date. The amount of James Campbell’s net sales included in the consolidated statements of operations for both the three and six months ended June 28, 2014 was $31,000. The amount of James Campbell’s net loss included in the consolidated statements of operations for the three months ended June 28, 2014 was approximately $0.3 million and for the six months ended June 28, 2014 was approximately $0.7 million, which included approximately $0.2 million of acquisition-related costs, which were recorded in Selling, general and administrative expenses in the consolidated statements of operations.

Note_3_Inventories_Net

Note 3 - Inventories, Net	6 Months Ended
Note 3 - Inventories, Net	Jun. 28, 2014
Inventory Disclosure [Abstract]	'
Inventory Disclosure [Text Block]	'
	Note 3 – Inventories, Net

	Inventories, net as of June 28, 2014 and December 31, 2013 consisted of the following:

	(In thousands)	28-Jun-14		31-Dec-13
	Finished goods	$	11,288	$	8,321
	Work-in-process		3,807		3,042
	Raw materials and supplies		5,187		7,244
	Inventories, net	$	20,282	$	18,607

Note_4_Goodwill_and_Intangible

Note 4 - Goodwill and Intangible Assets, Net	6 Months Ended
Note 4 - Goodwill and Intangible Assets, Net	Jun. 28, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
Goodwill and Intangible Assets Disclosure [Text Block]	'
	Note 4 – Goodwill and Intangible Assets, Net

	As discussed in Note 2 – Acquisition, in connection with the acquisition of the James Campbell business, the Company recorded goodwill, as well as identifiable intangible assets with finite lives, which consisted of customer relationships and trade names.

	Goodwill

	Goodwill as of June 28, 2014 and December 31, 2013 consisted of the following:

	(In thousands)	28-Jun-14		31-Dec-13
	Acquisition of James Campbell	$	420	$	—
	Acquisition of Rio Garment S.A. (“Rio”)		460		460
	Goodwill	$	880	$	460

	Intangible Assets, Net

	Intangible assets as of June 28, 2014 and December 31, 2013 consisted of the following:

		28-Jun-14							31-Dec-13
	(In thousands)	Gross		Accumulated			Net		Gross		Accumulated			Net
		Carrying		Amortization					Carrying		Amortization
		Amount							Amount
	James Campbell:
	Customer relationships	$	230	$	(8	)	$	222	$	—	$	—		$	—
	Trade names		1,100		(30	)		1,070		—		—			—

	Rio:
	Customer relationships		16,441		(4,235	)		12,206		16,441		(3,487	)		12,954
	Non-compete agreement		240		(136	)		104		240		(112	)		128

	Intangible assets	$	18,011	$	(4,409	)	$	13,602	$	16,681	$	(3,599	)	$	13,082

	Intangible asset amortization expense was approximately $0.4 million for both the three months ended June 28, 2014 and June 29, 2013 and approximately $0.8 million for both the six months ended June 28, 2014 and June 29, 2013. Annual intangible amortization expense for the next five years is estimated to be as follows:

	(In thousands)
	Full year 2014	$	1,638
	2015		1,657
	2016		1,641
	2017		1,609
	2018		1,609

Note_5_Loss_on_Lease_Obligatio

Note 5 - Loss on Lease Obligations	6 Months Ended
Note 5 - Loss on Lease Obligations	Jun. 28, 2014
Loss On Lease Obligations [Abstract]	'
Loss On Lease Obligations [Text Block]	'
	Note 5 – Loss on Lease Obligations

	In 2011, the Company completely vacated two of the five floors leased of its corporate office space in New York, NY and, as a result, the Company recorded a loss on lease obligation of approximately $6.3 million, which was net of the release of deferred rent attributable to the vacant space. The Company accrued additional loss on lease obligation charges of approximately $0.5 million in the second quarter of 2013 and approximately $4.9 million in the fourth quarter of 2013, primarily as a result of the Company completely vacating an additional floor of the New York office in December 2013. The additional loss on lease obligation charge in the fourth quarter of 2013 was net of the release of deferred rent attributable to the additional vacant space. In the second quarter of 2014, the Company accrued an additional loss on lease obligation charge of approximately $0.1 million.

	As of June 28, 2014 and December 31, 2013, total loss on lease obligation liabilities (including other office leases separate from the New York office lease) of approximately $3.9 million and $3.6 million, respectively, are included in Accrued expenses and other liabilities and approximately $6.6 million and $7.8 million, respectively, are included in Other long-term liabilities in the unaudited condensed consolidated balance sheets.

	A reconciliation of the beginning and ending liability balances for the total loss on lease obligations for the three months and six months ended June 28, 2014 is shown below:

		Three Months Ended June 28, 2014									Six Months Ended June 28, 2014
		New York									New York
	(In thousands)	Office			Other			Total			Office			Other			Total
	Beginning of period	$	10,789		$	155		$	10,944		$	11,253		$	188		$	11,441
	Charges to expense for:
	Additional loss on lease obligations		62			20			82			62			20			82
	Accretion		156			3			159			320			5			325
	Payments, net of sublease rentals received		(674	)		(15	)		(689	)		(1,302	)		(50	)		(1,352	)
	End of period	$	10,333		$	163		$	10,496		$	10,333		$	163		$	10,496

	The Company is actively seeking to sublease the New York office and will vacate additional space if subleasing opportunities arise. If the Company vacates additional space or subleases the New York office, in whole or in part, at rates that are significantly lower than the estimated sublease rentals assumed in the calculation of these loss on lease obligation liabilities or if such sublease arrangements include other terms that are unfavorable versus current assumptions, additional losses on lease obligations may be required and may be material to the unaudited condensed consolidated financial statements.

Note_6_Credit_Agreement

Note 6 - Credit Agreement	6 Months Ended
Note 6 - Credit Agreement	Jun. 28, 2014
Debt Disclosure [Abstract]	'
Debt Disclosure [Text Block]	'
	Note 6 – Credit Agreement

	The Company and certain of its subsidiaries (collectively, the “Borrowers”) are party to a credit agreement (the “Credit Agreement”) with Salus Capital Partners, LLC (the “Lender”), which provides for: (i) a $27.0 million revolving credit facility (which includes up to $15.0 million for letters of credit), subject to borrowing base limitations and (ii) a $3.0 million term loan. On February 24, 2014, the Lender extended the Company additional borrowing availability under the Credit Agreement to include inventory assets held at Rio’s Honduran facilities, which were previously excluded from the borrowing base. The Credit Agreement will expire, and all outstanding loans will become due and payable, on September 26, 2016.

	As of June 28, 2014, the Company had outstanding borrowings of $3.0 million on the term loan and approximately $6.8 million on the revolving credit facility and had $23,000 of letters of credit outstanding under the Credit Agreement. As of June 28, 2014, the Company had approximately $2.0 million of availability under the revolving credit facility.

	As of June 28, 2014, the interest rate on both the term loan and the outstanding borrowings on the revolving credit facility was 8.0%. As of June 28, 2014, the fair value of the term loan was approximately $3.0 million and was determined by discounting the cash flows using the current interest rate on the loan (Level 3).

	In the event that average availability under the revolving credit facility is less than $5.0 million calculated on a three month rolling basis, the Borrowers are required to meet minimum consolidated EBITDA levels set forth in the Credit Agreement. On April 11, 2014, the Borrowers entered into an amendment to the Credit Agreement to: (i) amend certain terms, including an adjustment to the minimum consolidated EBITDA levels under this financial covenant effective for the period beginning February 28, 2014 through December 31, 2014 and (ii) add an additional financial covenant, which, commencing on May 31, 2014, requires average availability under the revolving credit facility to not be less than $2.0 million calculated on a three month rolling basis as measured on the last day of each month. During the quarter ended June 28, 2014, the average availability under the revolving credit facility calculated on a three month rolling basis fell below the $2.0 million minimum and, therefore, the Company was not in compliance with this covenant.

	For each month ended May 31, 2014, June 30, 2014 and July 31, 2014, the average availability under the revolving credit facility calculated on a three month rolling basis fell below the $2.0 million minimum and, therefore, the Company was in default of this covenant. On August 12, 2014, at the Borrowers’ request, the Borrowers and Lender entered into the Waiver and Second Amendment to the Credit Agreement to: (i) waive the defaults; (ii) amend certain terms, including an adjustment to the minimum consolidated EBITDA levels under this financial covenant effective for the period beginning June 30, 2014 through December 31, 2014; and (iii) amend the financial covenant, which, as amended, on August 31, 2014 and September 30, 2014, will require average availability under the revolving credit facility to not be less than $1.0 million calculated on a three month rolling basis as measured on the last day of each month and for each month ending after September 30, 2014, will require average availability under the revolving credit facility to not be less than $2.0 million calculated on a three month rolling basis as measured on the last day of each month. As a result of this amendment, the Borrowers expect to be in compliance with the covenants through December 31, 2014. The Borrowers are not subject to any other financial covenants.

Note_7_Income_Taxes

Note 7 - Income Taxes	6 Months Ended
Note 7 - Income Taxes	Jun. 28, 2014
Income Tax Disclosure [Abstract]	'
Income Tax Disclosure [Text Block]	'
	Note 7 – Income Taxes

	The Company’s provision for income taxes for the quarters ended June 28, 2014 and June 29, 2013 is comprised primarily of foreign income tax withholdings, state minimum income taxes, and interest and penalties on unrecognized tax benefits.

	As of June 28, 2014, the Company has recorded a deferred tax liability of approximately $1.2 million for foreign income tax, which represents a 10% Honduran dividend withholding tax on the undistributed earnings of its Honduran subsidiary. These foreign withholding taxes will generate income tax credits in the U.S. when such amounts are paid, but these tax benefits are currently not recognized due to a full valuation allowance on the Company’s deferred tax assets.

	As of June 28, 2014, unrecognized tax benefits of approximately $2.4 million, including approximately $1.5 million of accrued interest and penalties, are included in Other long-term liabilities in the unaudited condensed consolidated balance sheet. The Company anticipates that total unrecognized tax benefits will increase by approximately $0.1 million within the next twelve months.

	The Company maintains a full valuation allowance on all of the net deferred tax assets due to the significant negative evidence with regards to future realization of these net deferred tax assets as of June 28, 2014 and June 29, 2013. Excluding the valuation allowances on net deferred tax assets, in the three months ended June 28, 2014, the Company would have recognized a tax benefit from continuing operations of approximately $1.3 million, or an effective tax rate of 29.8%, due to losses incurred during the period, and in the six months ended June 28, 2014, the Company would have recognized a tax benefit from continuing operations of approximately $2.4 million, or an effective tax rate of 27.3%, due to losses incurred during the period. Excluding the valuation allowances on net deferred tax assets, in the three months ended June 29, 2013, the Company would have recognized tax expense from continuing operations of approximately $1.5 million, or an effective tax rate of 62.0%, due to pre-tax income during the period, and in the six months ended June 29, 2013, the Company would have recognized a tax benefit from continuing operations of approximately $0.2 million, or an effective tax rate of 8.8%, due to losses incurred during the period. The effective tax rates vary from the statutory rates due primarily to changes in unrecognized tax benefits, changes in valuation allowances, foreign income taxes and nondeductible expenses.

Note_8_Commitments_and_Conting

Note 8 - Commitments and Contingencies	6 Months Ended
Note 8 - Commitments and Contingencies	Jun. 28, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies Disclosure [Text Block]	'
	Note 8 – Commitments and Contingencies

	New York Office Lease

	Information regarding litigation filed against the Company by the Supreme Court-appointed receiver of the New York office building is presented in Note 11 – Commitments and Contingencies – Legal Items – New York office lease included in the Company’s consolidated financial statements for the year ended December 31, 2013 contained in the 2013 Annual Report on Form 10-K and is incorporated herein by reference.

	On February 23, 2011, the receiver of the subject property commenced a non-payment proceeding in the Civil Court of the City of New York (the “Court”) against the Company. The receiver sought payment of allegedly past due and unpaid rent and additional rent under the New York lease, totaling approximately $7.1 million. On July 30, 2012, the Court commenced a trial on the matter. The trial was concluded on December 19, 2012, and the respective parties filed post trial briefs and reply briefs with the Court on January 23, 2013, and February 5, 2013, respectively. On June 10, 2013, the Court ruled that the Company was entitled to rent abatement for all but approximately $0.3 million of the plaintiff’s claim. Additionally, the Court awarded the Company legal fees and expenses for their defense in this litigation. The receiver filed a Notice of Appeal of the Decision, Order and Judgment of the trial court, which it perfected (i.e., filed the record on appeal and appellate brief) on April 9, 2014. The Company filed an opposition brief on May 1, 2014. Thereafter, the appellate court adjourned the appeal until its September term, meaning the receiver’s reply brief will be due on August 7, 2014, and argument will be heard on either September 3, 2014, or September 10, 2014.

	The receiver claimed that the Notice of Appeal automatically stayed any hearing on the amount of legal fees and expenses due and owing to the Company until the award of attorneys’ fees is upheld on appeal. The Company moved before the trial court for an order directing the receiver to increase his undertaking on appeal to account for the Company’s attorneys’ fees, which was granted. The receiver appealed this decision as well, and the appellate court ruled that the receiver would not have to post the additional undertaking until the appeal of the undertaking decision was heard. The undertaking appeal will be heard on the same day as the appeal on the Court’s decision after trial, on either September 3, 2014, or September 10, 2014.

	Based on information obtained from its counsel, the Company believes that the rent abatement judgment will be upheld on appeal and as previously reported, in the second quarter of 2013, of the $6.3 million previously accrued for disputed unpaid rent, the Company reversed approximately $6.1 million, which is reflected in Lease litigation settlement in the consolidated statement of operations. The Court’s award for the Company’s legal fees and expenses has not been recorded due to the uncertainty of the separate hearing.

	Matters Related to scott james

	As further discussed in Note 10 – Discontinued Operations, the Company sold its scott james business in June 2013. Information regarding the Company’s settlement agreements and the related settlement amounts regarding two leases and a service agreement related to the scott james business is presented in Note 11 – Commitments and Contingencies – Legal Items – Boston retail store lease, – Minneapolis outlet store lease and – Service agreement included in the Company’s consolidated financial statements for the year ended December 31, 2013 contained in the 2013 Annual Report on Form 10-K and is incorporated herein by reference. All such settlement amounts, which totaled approximately $60,000 for the two leases and approximately $0.2 million for the service agreement, were recorded in Liabilities of discontinued operations in the consolidated balance sheet as of December 31, 2013 and were paid in the first quarter of 2014.

	Additionally, as a result of the purchasers’ breach of the scott james asset purchase agreement by their failure to pay all amounts owed to the Company under such agreement, in January 2014, the Company obtained ownership of certain intellectual property assets from Scott James Company, LLC (one of the purchasers) and its affiliates pursuant to a public sale foreclosure in accordance with the Uniform Commercial Code. In April 2014, the Company filed suit against the purchasers in the United States District Court for the Southern District of New York seeking damages of approximately $1.0 million arising from their breach of the asset purchase agreement. The purchasers did not file a response to the lawsuit, and the Company is seeking a default judgment against the purchasers. The default judgment proceedings are pending.

	Other

	The Company is from time to time involved in other litigation incidental to the conduct of its business, none of which is expected to be material to its business, financial condition or operations.

Note_9_Related_Party_Transacti

Note 9 - Related Party Transactions	6 Months Ended
	Jun. 28, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions Disclosure [Text Block]	'
	Note 9 – Related Party Transactions

	Buxbaum Group

	Information regarding the Company’s agreements with Buxbaum Holdings, Inc., d/b/a Buxbaum Group (“Buxbaum Group”) related to services provided to the Company by Paul Buxbaum (the Company’s CEO) is presented in Note 12 – Related Party Transactions – Buxbaum Group Agreements included in the Company’s consolidated financial statements for the year ended December 31, 2013 contained in the 2013 Annual Report on Form 10-K and is incorporated herein by reference. During the three and six months ended June 28, 2014, the Company incurred $112,500 and $225,000, respectively, in fees to Buxbaum Group pursuant to these agreements. During the three and six months ended June 29, 2013, the Company incurred $225,000 and $412,500, respectively, in fees to Buxbaum Group pursuant to these agreements.

	On December 23, 2013, on behalf of the Company, Buxbaum Group remitted $120,000 to one of the Company’s vendors. As such, the Company recorded a liability due to Buxbaum Group, which was included in Accrued expenses and other liabilities in the unaudited condensed consolidated balance sheet as of December 31, 2013. The Company repaid this $120,000 liability to Buxbaum Group on January 7, 2014.

	Liquidation Support Agreement

	In connection with the Lender’s extension of additional borrowing availability to the Company under the Credit Agreement to include inventory assets held at Rio’s Honduran facilities, which is discussed in Note 6 – Credit Agreement, on February 6, 2014, at the request of the Lender, Mr. Buxbaum entered into a liquidation support agreement with the Lender. Pursuant to such agreement and at no cost to the Company, Mr. Buxbaum will provide certain liquidation services to the Lender in the event of a default under the Credit Agreement.

	License Agreement with Sole Asset Holdings, Inc. doing business as “Gramicci”

	On July 1, 2014, the Company announced that it had entered into a license agreement with Sole Asset Holdings, Inc., which does business under the name Gramicci, a California-based hiking and climbing-inspired brand owned by Paul Buxbaum, the Company’s Chief Executive Officer. The three-year agreement provides the Company with licensing rights to design, develop and produce Gramicci brand men’s and women’s apparel, which is sold to retailers, as well as through its ecommerce website.

	Additionally, the Company:

		●	has assumed all of Gramicci’s rights and obligations under a distributor agreement during the term of the license agreement;

		●	will reimburse Gramicci for any rents and operational expenses paid by Gramicci during the term of the license agreement in connection with Gramicci’s lease and operation of its office;

		●	will assume all of Gramicci’s obligations for the Fall 2014 line of licensed products, including the fulfillment of all current purchase orders for such products;

		●	will purchase certain of Gramicci’s existing inventory for an amount equal to invoice cost plus freight and may also acquire certain samples from Gramicci; and

		●	will pay to Gramicci annually, within 30 days after the completion of the Company’s annual audit, a sales royalty equal to the lesser of: (i) 4% of net sales (as defined in the license agreement) during each fiscal calendar year (or partial fiscal year, as applicable) of the license agreement or (ii) 20% of Adjusted EBITDA (as defined in the license agreement).

	The license agreement contains other terms typical of transactions of this type, including representations and warranties, indemnification, covenants, events of default and termination. A copy of the license agreement is furnished with this Report as Exhibit 99.1.

	Other

	During the three and six months ended June 28, 2014, the Company paid approximately $30,000 and $0.1 million, respectively, for screen printing services to a vendor affiliated with David Gren (the president of Rio). During the three and six months ended June 29, 2013, the Company paid approximately $0.2 million and $0.4 million, respectively, to this vendor. Accounts payable to this vendor was less than $1,000 and $28,000 as of June 28, 2014 and December 31, 2013, respectively.

Note_10_Discontinued_Operation

Note 10 - Discontinued Operations	6 Months Ended
Note 10 - Discontinued Operations	Jun. 28, 2014
Discontinued Operations and Disposal Groups [Abstract]	'
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	'
	Note 10 – Discontinued Operations

	On June 7, 2013, the Company sold certain assets of the scott james clothing brand and line. In accordance with GAAP, the unaudited condensed consolidated financial statements reflect the financial position, results of operations and cash flows of the scott james business as discontinued operations.

	The assets and liabilities of the Company’s discontinued operations are included in Assets of discontinued operations and Liabilities of discontinued operations, respectively, in the unaudited condensed consolidated balance sheets. The underlying assets and liabilities of the discontinued operations as of June 28, 2014 and December 31, 2013 were as follows:

	(In thousands)	28-Jun-14			31-Dec-13
	Trade and other receivables, net	$	—		$	123
	Inventories, net		—			51
	Other current assets		—			3
	Assets of discontinued operations	$	—		$	177

	Accrued expenses and other liabilities	$	—		$	770
	Liabilities of discontinued operations	$	—		$	770

	The operating results for the discontinued operations for the three and six months ended June 28, 2014 and June 29, 2013 were as follows:

		Three Months Ended							Six Months Ended
	(In thousands)	28-Jun-14			29-Jun-13			28-Jun-14		29-Jun-13
	Net sales	$	1		$	441		$	110	$	1,448

	Gross (loss) income		(15	)		(500	)		92		(1,051	)

	Loss on sale of discontinued operations		—			(668	)		—		(668	)

	(Loss) income from discontinued operations before income taxes		(15	)		(1,168	)		92		(1,719	)
	Income tax provision (benefit)		(12	)		—			30		—
	(Loss) income from discontinued operations, net of taxes	$	(3	)	$	(1,168	)	$	62	$	(1,719	)

	Cash flows related to discontinued operations have been reported separately in the consolidated statements of cash flows.

Note_11_Loss_Per_Share

Note 11 - Loss Per Share

6 Months Ended

Jun. 28, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 11 – (Loss) Income Per Share

No adjustments to (loss) income from continuing operations were necessary to calculate basic and diluted net (loss) income per share from continuing operations for all periods presented other than the three months ended June 29, 2013.

The weighted-average number of common shares outstanding used to calculate basic and diluted net (loss) income per share from continuing operations for the three and six months ended June 28, 2014 and June 29, 2013 was as follows:

Three Months Ended

Six Months Ended

(In thousands)

28-Jun-14

29-Jun-13

28-Jun-14

29-Jun-13

Basic weighted-average number of common shares outstanding

8,475

7,474

8,469

7,476

Effect of potentially dilutive securities (stock options)

—

106

—

Diluted weighted-average number of common shares outstanding

8,475

7,580

8,469

7,476

For both the three and six months ended June 28, 2014, options to purchase 1,394,375 shares were excluded from the calculation of dilutive shares as the impact would have been anti-dilutive due to the loss from continuing operations. For the six months ended June 29, 2013, options to purchase 473,625 shares were excluded from the calculation of dilutive shares as the impact would have been anti-dilutive due to the loss from continuing operations

Note_12_Subsequent_Events

Note 12 - Subsequent Events	6 Months Ended
Note 12 - Subsequent Events	Jun. 28, 2014
Subsequent Events [Abstract]	'
Subsequent Events [Text Block]	'
	Note 12 - Subsequent Events

	On August 12, 2014, the Company’s Credit Agreement was amended and certain covenants were waived. See Note 6.

	On July 1, 2014, the Company entered into a license agreement with Sole Asset Holdings, Inc., which is owned by a related party. See Note 9.

Note_2_Acquisition_Tables

Note 2 - Acquisition (Tables)	6 Months Ended
Note 2 - Acquisition (Tables)	Jun. 28, 2014
Business Combinations [Abstract]	'
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	'
	(In thousands)
	Minimum consideration:
	Cash paid at closing	$	300
	Liability incurred for installments payable		983
	Liability incurred for contingent consideration (excess payments)		467
	Total purchase price consideration	$	1,750
	(In thousands)
	Goodwill	$	420
	Intangible assets:
	Customer relationships		230
	Trade names		1,100
	Total assets acquired	$	1,750

Note_3_Inventories_Net_Tables

Note 3 - Inventories, Net (Tables)	6 Months Ended
Note 3 - Inventories, Net (Tables)	Jun. 28, 2014
Inventory Disclosure [Abstract]	'
Schedule of Inventory, Current [Table Text Block]	'
	(In thousands)	28-Jun-14		31-Dec-13
	Finished goods	$	11,288	$	8,321
	Work-in-process		3,807		3,042
	Raw materials and supplies		5,187		7,244
	Inventories, net	$	20,282	$	18,607

Note_4_Goodwill_and_Intangible1

Note 4 - Goodwill and Intangible Assets, Net (Tables)	6 Months Ended
Note 4 - Goodwill and Intangible Assets, Net (Tables)	Jun. 28, 2014
Goodwill and Intangible Assets Disclosure [Abstract]	'
Schedule of Goodwill [Table Text Block]	'
	(In thousands)	28-Jun-14		31-Dec-13
	Acquisition of James Campbell	$	420	$	—
	Acquisition of Rio Garment S.A. (“Rio”)		460		460
	Goodwill	$	880	$	460
Schedule of Intangible Assets and Goodwill [Table Text Block]	'
		28-Jun-14							31-Dec-13
	(In thousands)	Gross		Accumulated			Net		Gross		Accumulated			Net
		Carrying		Amortization					Carrying		Amortization
		Amount							Amount
	James Campbell:
	Customer relationships	$	230	$	(8	)	$	222	$	—	$	—		$	—
	Trade names		1,100		(30	)		1,070		—		—			—

	Rio:
	Customer relationships		16,441		(4,235	)		12,206		16,441		(3,487	)		12,954
	Non-compete agreement		240		(136	)		104		240		(112	)		128

	Intangible assets	$	18,011	$	(4,409	)	$	13,602	$	16,681	$	(3,599	)	$	13,082
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	'
	(In thousands)
	Full year 2014	$	1,638
	2015		1,657
	2016		1,641
	2017		1,609
	2018		1,609

Note_5_Loss_on_Lease_Obligatio1

Note 5 - Loss on Lease Obligations (Tables)	6 Months Ended
Note 5 - Loss on Lease Obligations (Tables)	Jun. 28, 2014
Loss On Lease Obligations [Abstract]	'
Schedule of Other Assets and Other Liabilities [Table Text Block]	'
		Three Months Ended June 28, 2014									Six Months Ended June 28, 2014
		New York									New York
	(In thousands)	Office			Other			Total			Office			Other			Total
	Beginning of period	$	10,789		$	155		$	10,944		$	11,253		$	188		$	11,441
	Charges to expense for:
	Additional loss on lease obligations		62			20			82			62			20			82
	Accretion		156			3			159			320			5			325
	Payments, net of sublease rentals received		(674	)		(15	)		(689	)		(1,302	)		(50	)		(1,352	)
	End of period	$	10,333		$	163		$	10,496		$	10,333		$	163		$	10,496

Note_10_Discontinued_Operation1

Note 10 - Discontinued Operations (Tables)	6 Months Ended
Note 10 - Discontinued Operations (Tables)	Jun. 28, 2014
Balance Sheet Information [Member]	'
Note 10 - Discontinued Operations (Tables) [Line Items]	'
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]	'
	(In thousands)	28-Jun-14			31-Dec-13
	Trade and other receivables, net	$	—		$	123
	Inventories, net		—			51
	Other current assets		—			3
	Assets of discontinued operations	$	—		$	177

	Accrued expenses and other liabilities	$	—		$	770
	Liabilities of discontinued operations	$	—		$	770
Income Statements Information [Member]	'
Note 10 - Discontinued Operations (Tables) [Line Items]	'
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]	'
		Three Months Ended							Six Months Ended
	(In thousands)	28-Jun-14			29-Jun-13			28-Jun-14		29-Jun-13
	Net sales	$	1		$	441		$	110	$	1,448

	Gross (loss) income		(15	)		(500	)		92		(1,051	)

	Loss on sale of discontinued operations		—			(668	)		—		(668	)

	(Loss) income from discontinued operations before income taxes		(15	)		(1,168	)		92		(1,719	)
	Income tax provision (benefit)		(12	)		—			30		—
	(Loss) income from discontinued operations, net of taxes	$	(3	)	$	(1,168	)	$	62	$	(1,719	)

Note_11_Loss_Per_Share_Tables

Note 11 - Loss Per Share (Tables)	6 Months Ended
Note 11 - Loss Per Share (Tables)	Jun. 28, 2014
Earnings Per Share [Abstract]	'
Schedule of Weighted Average Number of Shares [Table Text Block]	'
		Three Months Ended				Six Months Ended
	(In thousands)	28-Jun-14		29-Jun-13		28-Jun-14		29-Jun-13
	Basic weighted-average number of common shares outstanding		8,475		7,474		8,469		7,476
	Effect of potentially dilutive securities (stock options)		—		106		—		—
	Diluted weighted-average number of common shares outstanding		8,475		7,580		8,469		7,476

Note_2_Acquisition_Details

Note 2 - Acquisition (Details) (USD $)

3 Months Ended

6 Months Ended

2 Months Ended

6 Months Ended

2 Months Ended

3 Months Ended

6 Months Ended

2 Months Ended

Jun. 28, 2014

Dec. 31, 2013

Feb. 19, 2014

Jun. 28, 2014

Feb. 19, 2014

Jun. 28, 2014

Feb. 19, 2014

Jun. 28, 2014

Installment Purchase And Sale Agreement [Member]

Purchased Inventory [Member]

Installments Payable Liability [Member]

Contingent Consideration Liability [Member]

Upon Receipt Of $2.5 Million Of Purchase Price Including Excess Payments [Member]

Title To The James Campbell Trademarks And Brands Will Be Transferred To The Company [Member]

Customer Relationships [Member]

Trade Names [Member]

Minimum [Member]

Maximum [Member]

Note 2 - Acquisition (Details) [Line Items]

Minimum Aggregate Purchase Price Consideration

$1,300,000

Payments to Acquire Productive Assets

300,000

Installment Payable In Year Two

500,000

Installment Payable In Year Three

500,000

Number Of Years, Excess Payments

'5 years

Percentage Of Annual Net Sales, Excess Payments

2.50%

5.00%

Threshold Amount of Annual Net Sales, Excess Payments

5,000,000

Aggregate Purchase Price, Including Excess Payments

2,500,000

Maximum Units Of Excess Finished Goods Inventory For Purchase

22,000

Purchase Price For Inventory, Percent Of Invoiced Cost

115.00%

Threshold Amount Of Purchase Price Including Excess Payments For Slated Transfer

1,250,000

Minimum Net Worth Required for Compliance

2,500,000

1,250,000

Fair Value Inputs, Discount Rate

1.10%

17.00%

Fair Value Inputs, Projected Revenue

7,900,000

10,200,000

Accrued Liabilities and Other Liabilities

400,000

Other Liabilities, Noncurrent

14,324,000

14,366,000

1,100,000

Finite-Lived Intangible Asset, Useful Life

'10 years

'12 years

Inventory, Net

20,282,000

18,607,000

113,000

Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual

31,000

Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual

700,000

300,000

Business Combination, Acquisition Related Costs

$200,000

Note_2_Acquisition_Details_Pur

Note 2 - Acquisition (Details) - Purchase Price Allocation (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 28, 2014	Dec. 31, 2013
Minimum consideration:	'	'
Cash paid at closing	$300	'
Goodwill	880	460
Customer Relationships [Member] \| James Campbell [Member]	'	'
Minimum consideration:	'	'
Intangible assets	230	'
Trade Names [Member] \| James Campbell [Member]	'	'
Minimum consideration:	'	'
Intangible assets	1,100	'
James Campbell [Member]	'	'
Minimum consideration:	'	'
Cash paid at closing	300	'
Liability incurred for installments payable	983	'
Liability incurred for contingent consideration (excess payments)	467	'
Total purchase price consideration	1,750	'
Goodwill	420	'
Total assets acquired	$1,750	'

Note_3_Inventories_Net_Details

Note 3 - Inventories, Net (Details) - Inventories, Net (USD $)	Jun. 28, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Jun. 28, 2014	Dec. 31, 2013
Inventories, Net [Abstract]	'	'
Finished goods	$11,288	$8,321
Work-in-process	3,807	3,042
Raw materials and supplies	5,187	7,244
Inventories, net	$20,282	$18,607

Note_4_Goodwill_and_Intangible2

Note 4 - Goodwill and Intangible Assets, Net (Details) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 28, 2014	Jun. 29, 2013	Jun. 28, 2014	Jun. 29, 2013
Goodwill and Intangible Assets Disclosure [Abstract]	'	'	'	'
Amortization of Intangible Assets	$0.40	$0.40	$0.80	$0.80

Note_4_Goodwill_and_Intangible3

Note 4 - Goodwill and Intangible Assets, Net (Details) - Goodwill (USD $)	Jun. 28, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Jun. 28, 2014	Dec. 31, 2013
Goodwill [Line Items]	'	'
Goodwill	$880	$460
James Campbell [Member]	'	'
Goodwill [Line Items]	'	'
Goodwill	420	'
Rio [Member]	'	'
Goodwill [Line Items]	'	'
Goodwill	$460	$460

Note_4_Goodwill_and_Intangible4

Note 4 - Goodwill and Intangible Assets, Net (Details) - Intangible Assets and Goodwill, Net (USD $)	Jun. 28, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Jun. 28, 2014	Dec. 31, 2013
Note 4 - Goodwill and Intangible Assets, Net (Details) - Intangible Assets and Goodwill, Net [Line Items]	'	'
Intangible Assets, Gross Carrying Amount	$18,011	$16,681
Intangible Assets, Accumulated Amortization	-4,409	-3,599
Intangible Assets, Net	13,602	13,082
Customer Relationships [Member] \| James Campbell [Member]	'	'
Note 4 - Goodwill and Intangible Assets, Net (Details) - Intangible Assets and Goodwill, Net [Line Items]	'	'
Intangible Assets, Gross Carrying Amount	230	'
Intangible Assets, Accumulated Amortization	-8	'
Intangible Assets, Net	222	'
Customer Relationships [Member] \| Rio [Member]	'	'
Note 4 - Goodwill and Intangible Assets, Net (Details) - Intangible Assets and Goodwill, Net [Line Items]	'	'
Intangible Assets, Gross Carrying Amount	16,441	16,441
Intangible Assets, Accumulated Amortization	-4,235	-3,487
Intangible Assets, Net	12,206	12,954
Trade Names [Member] \| James Campbell [Member]	'	'
Note 4 - Goodwill and Intangible Assets, Net (Details) - Intangible Assets and Goodwill, Net [Line Items]	'	'
Intangible Assets, Gross Carrying Amount	1,100	'
Intangible Assets, Accumulated Amortization	-30	'
Intangible Assets, Net	1,070	'
Noncompete Agreements [Member] \| Rio [Member]	'	'
Note 4 - Goodwill and Intangible Assets, Net (Details) - Intangible Assets and Goodwill, Net [Line Items]	'	'
Intangible Assets, Gross Carrying Amount	240	240
Intangible Assets, Accumulated Amortization	-136	-112
Intangible Assets, Net	$104	$128

Note_4_Goodwill_and_Intangible5

Note 4 - Goodwill and Intangible Assets, Net (Details) - Annual Intangible Amortization Expense (USD $)	Jun. 28, 2014
In Thousands, unless otherwise specified	Jun. 28, 2014
Annual Intangible Amortization Expense [Abstract]	'
Full year 2014	$1,638
2015	1,657
2016	1,641
2017	1,609
2018	$1,609

Note_5_Loss_on_Lease_Obligatio2

Note 5 - Loss on Lease Obligations (Details) (USD $)	Dec. 31, 2011	Dec. 31, 2011	Jun. 28, 2014	Jun. 29, 2013	Dec. 31, 2013	Jun. 28, 2014	Dec. 31, 2011	Jun. 28, 2014	Dec. 31, 2013	Jun. 28, 2014	Dec. 31, 2013
Note 5 - Loss on Lease Obligations (Details) (USD $)	Vacated [Member]	Floors Leased [Member]	New York [Member]	New York [Member]	New York [Member]	New York [Member]	New York [Member]	Accrued Expenses and Other Liabilities [Member]	Accrued Expenses and Other Liabilities [Member]	Other Noncurrent Liabilities [Member]	Other Noncurrent Liabilities [Member]
Note 5 - Loss on Lease Obligations (Details) [Line Items]	'	'	'	'	'	'	'	'	'	'	'
Leased Floors	2	5	'	'	'	'	'	'	'	'	'
Loss on Lease Obligations	'	'	$62,000	$500,000	$4,900,000	$62,000	$6,300,000	$3,900,000	$3,600,000	$6,600,000	$7,800,000
	'	'	$100,000	'	'	$100,000	'	'	'	'	'

Note_5_Loss_on_Lease_Obligatio3

Note 5 - Loss on Lease Obligations (Details) - Loss on Lease Obligations (USD $)	3 Months Ended		4 Months Ended	6 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jun. 28, 2014	Jun. 29, 2013	Dec. 31, 2013	Jun. 28, 2014	Dec. 31, 2011
New York [Member]	'	'	'	'	'
Note 5 - Loss on Lease Obligations (Details) - Loss on Lease Obligations [Line Items]	'	'	'	'	'
Liability Balance for Total Loss on Lease Obligations	$10,789	'	'	$11,253	'
Charges to expense for:	'	'	'	'	'
Additional loss on lease obligations	62	500	4,900	62	6,300
Accretion	156	'	'	320	'
Payments, net of sublease rentals received	-674	'	'	-1,302	'
Liability Balance for Total Loss on Lease Obligations	10,333	'	11,253	10,333	'
Properties Other Than The New York Office [Member]	'	'	'	'	'
Note 5 - Loss on Lease Obligations (Details) - Loss on Lease Obligations [Line Items]	'	'	'	'	'
Liability Balance for Total Loss on Lease Obligations	155	'	'	188	'
Charges to expense for:	'	'	'	'	'
Additional loss on lease obligations	20	'	'	20	'
Accretion	3	'	'	5	'
Payments, net of sublease rentals received	-15	'	'	-50	'
Liability Balance for Total Loss on Lease Obligations	163	'	'	163	'
Loss on Lease Obligation [Member]	'	'	'	'	'
Note 5 - Loss on Lease Obligations (Details) - Loss on Lease Obligations [Line Items]	'	'	'	'	'
Liability Balance for Total Loss on Lease Obligations	10,944	'	'	11,441	'
Charges to expense for:	'	'	'	'	'
Additional loss on lease obligations	82	'	'	82	'
Accretion	159	'	'	325	'
Payments, net of sublease rentals received	-689	'	'	-1,352	'
Liability Balance for Total Loss on Lease Obligations	$10,496	'	'	$10,496	'

Note_6_Credit_Agreement_Detail

Note 6 - Credit Agreement (Details) (USD $)

Jun. 28, 2014

Dec. 31, 2013

Jul. 31, 2014

Jun. 28, 2014

Sep. 26, 2013

Jun. 28, 2014

Sep. 30, 2014

Aug. 31, 2014

Jun. 30, 2014

31-May-14

Subsequent Event [Member]

Term Loan [Member]

Term Loan And Credit Facility [Member]

Credit Agreement [Member]

Credit Agreement Covenant Default [Member]

Credit Agreement [Member]

Letter of Credit [Member]

Maximum [Member]

Minimum [Member]

Note 6 - Credit Agreement (Details) [Line Items]

Line of Credit Facility, Maximum Borrowing Capacity

$15,000,000

$27,000,000

Debt Instrument, Face Amount

3,000,000

Long-term Line of Credit

6,758,000

9,187,000

3,000,000

6,800,000

Letters of Credit Outstanding, Amount

23,000

Line of Credit Facility, Remaining Borrowing Capacity

2,000,000

Line of Credit Facility, Interest Rate During Period

8.00%

Line of Credit Facility, Fair Value of Amount Outstanding

3,000,000

Line Of Credit Facility Average Availability

$2,000,000

$5,000,000

$2,000,000

$1,000,000

$2,000,000

Note_7_Income_Taxes_Details

Note 7 - Income Taxes (Details) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Jun. 28, 2014	Jun. 29, 2013	Jun. 28, 2014	Jun. 29, 2013
Income Tax Disclosure [Abstract]	'	'	'	'
Deferred Tax Liabilities, Undistributed Foreign Earnings	$1.20	'	$1.20	'
Percentage of Dividend Withholding Tax on Undistributed Earnings	10.00%	'	10.00%	'
Unrecognized Tax Benefits	2.4	'	2.4	'
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	1.5	'	1.5	'
Unrecognized Tax Benefits, Period Increase (Decrease)	'	'	0.1	'
Tax Benefit Provision From Continuing Operations Excluding Valuation Allowances	$1.30	$1.50	$2.40	$0.20
Effective Income Tax Rate, If Excluding the Valuation Allowances, Continuing Operations	29.80%	62.00%	27.30%	8.80%

Note_8_Commitments_and_Conting1

Note 8 - Commitments and Contingencies (Details) (USD $)	Dec. 31, 2013	Jun. 10, 2013	Feb. 23, 2011	Jun. 29, 2013	Jun. 10, 2013	Feb. 21, 2014	Jun. 29, 2013	Dec. 31, 2013	Apr. 30, 2014
		Lease Litigation Settlement [Member]	New York [Member]	New York [Member]	New York [Member]	Minneapolis Outlet Store Lease [Member]	Minneapolis Outlet Store Lease [Member]	Flavio/Scott James Contract For Showroom In Italy [Member]	Scott James Asset Purchase Agreement [Member]
		New York [Member]
Note 8 - Commitments and Contingencies (Details) [Line Items]	'	'	'	'	'	'	'	'	'
Loss Contingency, Damages Sought, Value	'	'	$7,100,000	'	'	'	'	'	'
Loss Contingency, Estimate of Possible Loss	'	'	'	'	300,000	'	'	'	'
Loss Contingency Accrual Reversal	'	6,100,000	'	6,300,000	'	'	'	'	'
Disposal Group, Including Discontinued Operation, Liabilities, Current	770,000	'	'	'	'	'	60,000	200,000	'
Number of Leases	'	'	'	'	'	2	'	'	'
Gain Contingency, Unrecorded Amount	'	'	'	'	'	'	'	'	$1,000,000

Note_9_Related_Party_Transacti1

Note 9 - Related Party Transactions (Details) (USD $)

Jun. 28, 2014

Dec. 31, 2013

Jan. 07, 2014

Jun. 28, 2014

Jun. 29, 2013

Jun. 28, 2014

Jun. 29, 2013

Dec. 23, 2013

Jul. 01, 2014

Jun. 28, 2014

Jun. 29, 2013

Jun. 28, 2014

Jun. 29, 2013

Dec. 31, 2013

Buxbaum Group [Member]

Gramicci [Member]

Director [Member]

License Agreement, Percentage of Net Sales to be Paid [Member]

Licensing Agreement, Percentage of Adjusted EBITDA to be Paid [Member]

Subsequent Event [Member]

Note 9 - Related Party Transactions (Details) [Line Items]

Related Party Transaction, Expenses from Transactions with Related Party

$112,500

$225,000

$30,000

$200,000

$100,000

$400,000

Professional Fees

225,000

412,500

Other Accrued Liabilities, Current

7,022,000

6,276,000

120,000

Repayments of Related Party Debt

120,000

Licensing Agreements Contract Term

'3 years

Related Party Transaction, Rate

4.00%

20.00%

Accounts Payable, Related Parties

$1,000

$28,000

Note_10_Discontinued_Operation2

Note 10 - Discontinued Operations (Details) - Discontinued Business Information - Balance Sheets (USD $)	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2013
Discontinued Business Information - Balance Sheets [Abstract]	'
Trade and other receivables, net	$123
Inventories, net	51
Other current assets	3
Assets of discontinued operations	177
Accrued expenses and other liabilities	770
Liabilities of discontinued operations	$770

Note_10_Discontinued_Operation3

Note 10 - Discontinued Operations (Details) - Discontinued Business Information - Income Statement (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 28, 2014	Jun. 29, 2013	Jun. 28, 2014	Jun. 29, 2013
Discontinued Business Information - Income Statement [Abstract]	'	'	'	'
Net sales	$1	$441	$110	$1,448
Gross (loss) income	-15	-500	92	-1,051
Loss on sale of discontinued operations	'	-668	'	-668
(Loss) income from discontinued operations before income taxes	-15	-1,168	92	-1,719
Income tax provision (benefit)	-12	'	30	'
(Loss) income from discontinued operations, net of taxes	($3)	($1,168)	$62	($1,719)

Note_11_Loss_Per_Share_Details

Note 11 - Loss Per Share (Details)	3 Months Ended	6 Months Ended	3 Months Ended	6 Months Ended
	Jun. 29, 2013	Jun. 28, 2014	Jun. 28, 2014	Jun. 29, 2013
	Jun. 29, 2013	Jun. 28, 2014	Equity Option [Member]	Equity Option [Member]
Note 11 - Loss Per Share (Details) [Line Items]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	1,394,375	1,394,375	473,625

Note_11_Loss_Per_Share_Details1

Note 11 - Loss Per Share (Details) - The Weighted-Average Number of Common Shares Outstanding to Calculate Basic and Diluted Net Inocme Per Share	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 28, 2014	Jun. 29, 2013	Jun. 28, 2014	Jun. 29, 2013
The Weighted-Average Number of Common Shares Outstanding to Calculate Basic and Diluted Net Inocme Per Share [Abstract]	'	'	'	'
Basic weighted-average number of common shares outstanding	8,475	7,474	8,469	7,476
Effect of potentially dilutive securities (stock options)	'	106	'	'
Diluted weighted-average number of common shares outstanding	8,475	7,580	8,469	7,476