Goodwill and Other Intangible Assets
|3 Months Ended|
May 02, 2020
|Goodwill and Other Intangible Assets|
|Goodwill and Other Intangible Assets||
4.Goodwill and other intangible assets
Goodwill, which represents the excess of cost over the fair value of net assets acquired, amounted to $10,870 at May 2, 2020, February 1, 2020, and May 4, 2019. additional goodwill was recognized during the 13 weeks ended May 2, 2020. The Company reviews the recoverability of goodwill annually during the fourth quarter or more frequently if an event occurs or circumstances change that would indicate that impairment may exist.
As a result of the COVID-19 pandemic and decline in the macroeconomic environment, the Company performed an interim impairment analysis as of May 2, 2020, which indicated that impairment existed for goodwill or other intangible assets.
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef