Note 9 - Goodwill |
3 Months Ended |
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Jun. 29, 2025 | |
| Notes to Financial Statements | |
| Goodwill Disclosure [Text Block] |
Note 9 – Goodwill
Goodwill represents the excess of the purchase price over the fair value of net identifiable assets acquired in business combinations. For the purpose of presenting and measuring for impairment of goodwill, the Company has two reporting units: one that produces and markets bedding and diaper bags and another that produces and markets bibs, toys and disposable products. The Company measures for impairment of the goodwill within its reporting units annually as of the first day of the Company’s fiscal year. The Company reported goodwill net of impairment charges of $7.9 million at June 30, 2024. For the fiscal year ended March 30, 2025, the Company determined that a triggering event occurred in relation to the depressed market price of the Company’s common stock and corresponding significant decline in the Company’s market capitalization. As a result, the Company performed a quantitative goodwill impairment test. Based on the goodwill impairment analysis performed, the Company determined that the estimated fair values of its reporting units were lower than the carrying value, indicating the goodwill within these reporting units had been impaired. Consequently, the Company recorded a non-cash goodwill impairment charge of $13.8 million during the three-month period ended March 30, 2025. The Company reported no goodwill at June 29, 2025.
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