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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2018	Apr. 30, 2018
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q1
Trading Symbol	LCUT
Entity Registrant Name	LIFETIME BRANDS, INC
Entity Central Index Key	0000874396
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		20,605,314

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
CURRENT ASSETS
Cash and cash equivalents	$ 11,904	$ 7,600
Accounts receivable, less allowances of $6,164 at March 31, 2018 and $6,190 at December 31, 2017	87,622	108,033
Inventory	177,567	132,436
Prepaid expenses and other current assets	16,262	10,354
TOTAL CURRENT ASSETS	293,355	258,423
PROPERTY AND EQUIPMENT, net	27,052	23,065
INVESTMENTS	24,517	23,978
INTANGIBLE ASSETS, net	371,087	88,479
DEFERRED INCOME TAXES	8,889	5,826
OTHER ASSETS	2,015	1,750
TOTAL ASSETS	726,915	401,521
CURRENT LIABILITIES
Current maturity of term loan	1,285
Short term loan	151	69
Accounts payable	34,119	25,461
Accrued expenses	49,588	44,121
Income taxes payable	104	1,864
TOTAL CURRENT LIABILITIES	85,247	71,515
DEFERRED RENT & OTHER LONG-TERM LIABILITIES	20,569	20,249
DEFERRED INCOME TAXES	34,419	4,423
INCOME TAXES PAYABLE, LONG-TERM	311	311
REVOLVING CREDIT FACILITY	45,047	94,744
TERM LOAN	263,581
STOCKHOLDERS' EQUITY
Preferred stock, $1.00 par value, shares authorized: 100 shares of Series A and 2,000,000 shares of Series B; none issued and outstanding
Common stock, $.01 par value, shares authorized: 50,000,000 at March 31, 2018 and December 31, 2017; shares issued and outstanding: 20,605,877 at March 31, 2018 and 14,902,527 at December 31, 2017	206	149
Paid-in capital	255,408	178,909
Retained earnings	48,068	60,546
Accumulated other comprehensive loss	(25,941)	(29,325)
TOTAL STOCKHOLDERS' EQUITY	277,741	210,279
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 726,915	$ 401,521

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Accounts receivable, allowances	$ 6,164	$ 6,190
Preferred stock, par value	$ 1.00	$ 1.00
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	20,605,877	14,902,527
Common stock, shares outstanding	20,605,877	14,902,527
Preferred stock Series A
Preferred stock, shares authorized	100	100
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Preferred stock Series B
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net sales	$ 118,169	$ 113,356
Cost of sales	73,082	69,415
Gross margin	45,087	43,941
Distribution expenses	17,822	13,433
Selling, general and administrative expenses	40,175	32,382
Restructuring expenses	406
Loss from operations	(13,316)	(1,874)
Interest expense	(2,103)	(941)
Loss on early retirement of debt	(66)
Loss before income taxes and equity in earnings	(15,485)	(2,815)
Income tax benefit	3,810	944
Equity in earnings, net of taxes	77	540
NET LOSS	$ (11,598)	$ (1,331)
BASIC LOSS PER COMMON SHARE	$ (0.70)	$ (0.09)
DILUTED LOSS PER COMMON SHARE	(0.70)	(0.09)
Cash dividends declared per common share	$ 0.0425	$ 0.0425

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net loss	$ (11,598)	$ (1,331)
Other comprehensive income (loss), net of taxes:
Translation adjustment	3,380	1,976
Derivative fair value adjustment	(14)	13
Effect of retirement benefit obligations	18	15
Other comprehensive income, net of taxes	3,384	2,004
Comprehensive income (loss)	$ (8,214)	$ 673

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
OPERATING ACTIVITIES
Net loss	$ (11,598)	$ (1,331)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	4,309	3,286
Amortization of financing costs	220	217
Deferred rent	370	(140)
Stock compensation expense	838	804
Undistributed equity in earnings, net of taxes	(77)	(540)
Loss on early retirement of debt	66
Changes in operating assets and liabilities (excluding the effects of business acquisitions)
Accounts receivable	48,119	43,044
Inventory	(17,303)	(18,648)
Prepaid expenses, other current assets and other assets	(1,476)	(1,073)
Accounts payable, accrued expenses and other liabilities	(7,050)	(18,135)
Income taxes receivable		(132)
Income taxes payable	(3,880)	(1,373)
NET CASH PROVIDED BY OPERATING ACTIVITIES	12,538	5,979
INVESTING ACTIVITIES
Purchases of property and equipment	(2,408)	(373)
Filament acquisition, net of cash acquired	(217,932)
NET CASH USED IN INVESTING ACTIVITIES	(220,340)	(373)
FINANCING ACTIVITIES
Proceeds from revolving credit facility	73,725	66,298
Repayments of revolving credit facility	(123,938)	(70,620)
Proceeds from Term Loan	275,000
Repayment of Credit Agreement term loan		(2,500)
Proceeds from short term loan	79	119
Payment of financing costs	(11,049)	(29)
Payment of equity issuance costs	(929)
Payments for capital leases	(24)
Payments of tax withholding for stock based compensation	(258)
Proceeds from exercise of stock options		92
Cash dividends paid	(652)	(613)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	211,954	(7,253)
Effect of foreign exchange on cash	152	53
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	4,304	(1,594)
Cash and cash equivalents at beginning of period	7,600	7,883
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 11,904	$ 6,289

BASIS OF PRESENTATION AND SUMMARY ACCOUNTING POLICIES

3 Months Ended

Mar. 31, 2018

BASIS OF PRESENTATION AND SUMMARY ACCOUNTING POLICIES

NOTE A — BASIS OF PRESENTATION AND SUMMARY ACCOUNTING POLICIES

Organization and business

Lifetime Brands, Inc. (the “Company”) designs, sources and sells branded kitchenware, tableware and other products used in the home and markets its products under a number of brand names and trademarks, which are either owned or licensed by the Company, or through retailers’ private labels. The Company markets and sells its products principally on a wholesale basis to retailers. The Company also markets and sells a limited selection of its products directly to consumers through third parties and its own internet websites.

On March 2, 2018, the Company expanded its portfolio of products and brands through the acquisition of Taylor Holdco LLC and its subsidiaries (doing business as Filament Brands) (“Filament”). Filament primarily designs, markets, and distributes consumer and food service precision measurement products, including kitchen scales, thermometers and timers, bath scales, wine accessories, kitchen tools, hydration products, and select outdoor products. The three months ended March 31, 2018 includes the operations of Filament for the period from March 2, 2018 to March 31, 2018. See Note C for additional information.

Basis of presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments, which consist only of normal recurring accruals, considered necessary for a fair presentation have been included. These condensed consolidated financial statements should be read in conjunction with the condensed consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2017.

Operating results for the three month period ended March 31, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018.

The Company’s business and working capital needs are highly seasonal, with a majority of sales occurring in the third and fourth quarters. In 2017 and 2016, net sales for the third and fourth quarters accounted for 60% and 61% of total annual net sales, respectively. In anticipation of the pre-holiday shipping season, inventory levels increase primarily in the June through October time period.

Revenue recognition

The Company offers various sales incentives and promotional programs to its customers in the normal course of business. These incentives and promotions typically include arrangements such as cooperative advertising, buydowns, volume rebates and discounts. These arrangements and returns are reflected as reductions of revenue at the time of sale. See Note B for additional information.

Cost of sales

Cost of sales consists primarily of costs associated with the production and procurement of product, inbound freight costs, purchasing costs, royalties and other product procurement related charges.

Distribution expenses

Distribution expenses consist primarily of warehousing expenses and freight-out expenses.

Accounts receivable

The Company periodically reviews the collectability of its accounts receivable and establishes allowances for estimated losses that could result from the inability of its customers to make required payments. A considerable amount of judgment is required to assess the ultimate realization of these receivables including assessing the initial and on-going creditworthiness of the Company’s customers.

The Company also maintains an allowance for anticipated customer deductions. The allowances for deductions are primarily based on contracts with customers. However, in certain cases the Company does not have a formal contract and, therefore, customer deductions are non-contractual. To evaluate the reasonableness of non-contractual customer deductions, the Company analyzes currently available information and historical trends of deductions.

Receivable purchase agreement

The Company has an uncommitted Receivables Purchase Agreement with HSBC Bank USA, National Association (“HSBC”), as Purchaser (the “Receivables Purchase Agreement”). The sale of accounts receivable, under the Company’s Receivable Purchase Agreement with HSBC, are reflected as a reduction of accounts receivable in the Company’s condensed consolidated balance sheet at the time of sale and any related expense is included in selling, general and administrative expenses in the Company’s condensed consolidated statements of operations. Pursuant to this agreement, the Company sold to HSBC $19.6 million and $21.6 million of Receivables during the three months ended March 31, 2018 and 2017, respectively. A charge of $90,000 and $67,000 related to the sale of the Receivables is included in selling, general and administrative expenses in the condensed consolidated statements of operations for the three months ended March 31, 2018 and 2017, respectively.

Inventory

Inventory consists principally of finished goods sourced from third-party suppliers. Inventory also includes finished goods, work in process and raw materials related to the Company’s manufacture of sterling silver products. Inventory is priced using the lower of cost (first-in,first-out basis) or net realizable value. The Company estimates the selling price of its inventory on a product by product basis based on the current selling environment. If the estimated selling price is lower than the inventory’s cost, the Company reduces the value of the inventory to its net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predicable cost of completion, disposal and transportation.

The components of inventory are as follows:


	March 31, 2018		December 31, 2017
	(in thousands)
Finished goods	$	174,565	$	129,611
Work in process		1,738		1,548
Raw materials		1,264		1,277

Total	$	177,567	$	132,436

Fair value of financial instruments

The Company determined that the carrying amounts of cash and cash equivalents, accounts receivable and accounts payable are reasonable estimates of their fair values because of their short-term nature. The Company determined that the carrying amounts of borrowings outstanding under its revolving credit facility, term loan and short term loan approximate fair value since such borrowings bear interest at variable market rates.

Derivatives

The Company accounts for derivative instruments in accordance with Accounting Standard Codification (“ASC”) Topic No. 815, Derivatives and Hedging. ASC Topic No. 815 requires that all derivative instruments be recognized on the balance sheet at fair value as either an asset or liability. Changes in the fair value of derivatives that qualify as hedges and have been designated as part of a hedging relationship for accounting purposes have no net impact on earnings until the hedged item is recognized in earnings. The change in the fair value of hedges are included in accumulated other comprehensive income (loss) and is subsequently recognized in the Company’s condensed consolidated statements of operations to mirror the location of the hedged items impacting earnings.

For derivatives that do not qualify or are not designated as hedging instruments for accounting purposes, changes in fair value are recorded in operations.

Goodwill, intangible assets and long-lived assets

Goodwill and intangible assets deemed to have indefinite lives are not amortized but, instead, are subject to an annual impairment assessment. Additionally, if events or conditions were to indicate the carrying value of a reporting unit may not be recoverable, the Company would evaluate goodwill and other intangible assets for impairment at that time. As it relates to the goodwill assessment, the Company first assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment testing described in ASU Topic No. 350, Intangibles – Goodwill and Other. If, after assessing qualitative factors, the Company determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then performing the two-step impairment test is unnecessary and the Company’s goodwill is considered to be unimpaired. However, if based on the Company’s qualitative assessment it concludes that it is more likely than not that the fair value of the reporting unit is less than its carrying amount, or if the Company elects to bypass the qualitative assessment, the Company will proceed with performing the two-step process. The first step in the two-step process compares the carrying value of each reporting unit that has goodwill with the estimated fair value of the respective reporting unit. Should the carrying value of a reporting unit be in excess of the estimated fair value of that reporting unit, the second step must be performed. The second step represents a hypothetical purchase price allocation as if the Company had acquired the reporting unit on that date. The Company also evaluates qualitative factors to determine whether or not its indefinite lived intangibles have been impaired and then performs quantitative tests if required. These tests can include the relief from royalty model or other valuation models.

Long-lived assets, including intangible assets deemed to have finite lives, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Impairment indicators include, among other conditions, cash flow deficits, historic or anticipated declines in revenue or operating profit or material adverse changes in the business climate that indicate that the carrying amount of an asset may be impaired. When impairment indicators are present, the recoverability of the asset is measured by comparing the carrying value of the asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the asset is considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the asset exceeds the fair value of the asset.

Employee healthcare

The Company self-insures certain portions of its health insurance plans. The Company maintains an accrual for unpaid claims and estimated claims incurred but not yet reported (“IBNR”). Although management believes that it uses the best information available to estimate claims IBNR, actual claims may vary significantly from estimated claims.

Restructuring expenses

Costs associated with restructuring activities are recorded at fair value when a liability has been incurred. A liability has been incurred at the point of closure for any remaining operating lease obligations and at the communication date for severance.

In connection with the Company’s March 2018 acquisition of Filament, the Company commenced a restructuring plan to integrate the operations of Filament with the Company’s operations and realize the savings expected from the synergies of the acquisition. During the three months ended March 31, 2018 the Company incurred $0.4 million of restructuring charges, all of which is accrued.

Adoption of new accounting pronouncements

Effective January 1, 2018, the Company adopted Accounting Standards Update (“ASU”) 2017-01, Clarifying the Definition of a Business. This standard assists with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. This standard will be applied prospectively to acquisitions and has not had an impact on the Company’s condensed consolidated financial statements.

Effective January 1, 2018, the Company adopted Accounting Standards Codification (“ASC”) Topic 606. The standard supersedes existing revenue recognition guidance and replaces it with a five step revenue model with a core principle that an entity recognizes revenue to reflect the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. The Company adopted the new guidance under the modified retrospective approach. The adoption of this guidance did not have a significant impact on the Company’s condensed consolidated financial statements. The adoption resulted in the recognition of right of a return asset related to certain product returns by increasing the returns liability; this gross up had no corresponding impact on the Condensed Consolidated Statement of Operations.

Effective January 1, 2018, the Company adopted ASU 2017-12, Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities (Topic 815), which expands and refines hedge accounting for both non-financial and financial risk components and aligns the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. The guidance also makes certain improvements to simplify the application of hedge accounting guidance and ease the administrative burden of hedge documentation requirements and assessing hedge effectiveness. The Company applied the new guidance to existing cash flow hedge relationships using a modified retrospective approach. No adjustment was recorded to opening retained earnings on the date of adoption. The adoption of this ASU did not have a material impact on the Company’s financial condition, results of operations or cash flows.

Accounting pronouncements to be adopted in future periods

In February 2018, the Financial Accounting Standards Board (“FASB”) issued ASU 2018-02, Income Statement- Reporting Comprehensive Income: Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, which addresses the effect of the change in the U.S. federal corporate tax rate due to the enactment of the December 22, 2017 Tax Cuts and Jobs Act on items within accumulated other comprehensive income (loss). The guidance is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company is evaluating the effect of adopting this pronouncement.

In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment, to simplify the subsequent measurement of goodwill by eliminating the second step of the goodwill impairment test. Under this standard, an entity should perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. The loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. This guidance is effective for interim and annual goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company is evaluating the effect of adopting this pronouncement.

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments, which reduces the diversity in practice on how certain transactions are classified in the statement of cash flows. The guidance is effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company is evaluating the effect of adopting this pronouncement.

In February 2016, the FASB issued ASU 2016-02, Leases, which requires a lessee, in most leases, to initially recognize a lease liability for the obligation to make lease payments and a right-of-use asset for the right to use the underlying asset for the lease term. The guidance is effective for fiscal years beginning after December 15, 2018, and interim periods within with those years. Early adoption is permitted. The Company is in the process of evaluating the effect the guidance will have on its existing accounting policies and its consolidated financial statements, but expects there will be an increase in assets and liabilities on the consolidated balance sheets at adoption due to the recording of the right-of-use assets and corresponding lease liabilities, which may be material.

REVENUE

3 Months Ended

Mar. 31, 2018

REVENUE

NOTE B —REVENUE

The Company sells products wholesale, to retailers and distributors, and retail, directly to the consumer. Wholesale sales and retail sales are recognized at the point in time the customer obtains control of the products in an amount that reflects the consideration the Company expects to be entitled to in exchange for those products. To indicate the transfer of control, the Company must have a present right to payment, legal title must have passed to the customer, the customer must have the significant risks and rewards of ownership, and where acceptance is not a formality, the customer must have accepted the product or service. The Company’s principal terms of sale are FOB Shipping Point, or equivalent, and, as such, the Company primarily transfers control and records revenue for product sales upon shipment. Sales arrangements with delivery terms that are not FOB Shipping Point are not recognized upon shipment and the transfer of control for revenue recognition is evaluated based on the associated shipping terms and customer obligations. Shipping and handling fees that are billed to customers in sales transactions are included in net sales and amounted to $545,000 and $561,000 for the three months ended March 31, 2018 and 2017, respectively. Net sales exclude taxes that are collected from customers and remitted to the taxing authorities.

The Company offers various sales incentives and promotional programs to its wholesale customers from time to time in the normal course of business. These incentives and promotions typically include arrangements such as cooperative advertising, buydowns, volume rebates and discounts. These arrangements represent forms of variable consideration, and an estimate of sales returns are reflected as reductions in net sales in the Company’s condensed consolidated statements of operations. These estimates are based on historical experience and other known factors or as the most likely amount in a range of possible outcomes. On a quarterly basis, variable consideration is assessed on a portfolio approach in estimating the extent to which the components of variable consideration are constrained.

Payment terms with customers vary by customer, but generally range from 30 to 90 days or at the point of sale for the Company’s retail direct sales. The Company incurs certain direct incremental costs to obtain contracts with customers, such as sales-related commissions, where the recognition period for the related revenue is less than one year. These costs are expensed as incurred and recorded within selling, general and administrative expenses in the condensed consolidated statement of operations. Incidental items that are immaterial in the context of the contract are expensed as incurred.

The following tables present the Company’s net sales disaggregated by segment, product category and geographic region for the three months ended March 31, 2018 (in thousands).


U.S. Wholesale
Kitchenware	$	56,965
Tableware		20,905
Home Solutions		12,925
International
Kitchenware		13,000
Tableware		8,846
Retail Direct		5,528

	$	118,169

United States	$	91,714
United Kingdom		15,623
Rest of World		10,832

	$	118,169

ACQUISITION

3 Months Ended

Mar. 31, 2018

ACQUISITION

NOTE C —ACQUISITION

On December 22, 2017, the Company entered into an agreement providing for the acquisition of Filament by the Company. At a special meeting of stockholders held on February 28, 2018, stockholders approved the issuance of shares pursuant to the agreement and the acquisition was completed on March 2, 2018. The aggregate consideration for Filament was $295.8 million, $218.9 million of cash consideration and 5,593,116 newly issued shares of the Company’s common stock, with a value equal to $76.9 million, based on the market value of the Company’s common stock as of March 2, 2018. The estimated cash portion of the consideration is subject to adjustments as defined in the agreement. The acquisition is being accounted for as a business combination using the acquisition method of accounting in accordance with FASB ASC Topic 805, which established a new basis of accounting for all identifiable assets acquired and liabilities assumed at fair value.

The purchase price has been determined to be as follows (in thousands):


Cash	$	218,917
Share consideration		76,905

Total purchase price	$	295,822

The purchase price was allocated based on the Company’s preliminary estimate of the fair value of the assets acquired and liabilities assumed, as follows (in thousands):


Accounts receivable	$	26,453
Inventory		26,696
Other assets		10,086
Other liabilities		(24,393	)
Deferred income tax		(26,633	)
Goodwill and other intangibles		283,613

Total allocated value	$	295,822

Goodwill results from such factors as an assembled workforce. The total amount of goodwill is not expected to be deductible for tax purposes. The goodwill and other intangible assets are primarily included in the U.S. Wholesale segment. Customer relationships are amortized on a straight-line basis over their estimated useful lives (see Note E).

The three months ended March 31, 2018 includes the operations of Filament for the period from March 2, 2018, the date of acquisition, to March 31, 2018. The condensed consolidated statement of operations for the three months ended March 31, 2018, include $9.3 million of net sales and $1.1 million net loss from operations contributed by Filament.

Unaudited Pro forma Results

The following table presents the Company’s pro forma consolidated net sales, loss before income taxes and equity in earnings and net loss for the three months ended March 31, 2018 and March 31, 2017. The unaudited pro forma results include the historical statement of operations information of the Company and of Filament, giving effect to the Filament acquisition and related financing as if they had occurred at the beginning of the periods presented.


	Unaudited pro forma results
	Three Months Ended
	March 31, 2018			March 31, 2017
	(In thousands, except per share data)
Net sales	$	143,980		$	158,270
Loss before income taxes and equity in earnings		(15,844	)		(4,962	)
Net loss		(11,868	)		(2,566	)
Basic and diluted loss per common share		(0.58	)		(0.13	)

The pro forma results, prepared in accordance with U.S. GAAP, include the following pro forma adjustments related to the Filament acquisition:

(1)

as a result of a $1.5 million increase in the fair value of acquired inventory at the acquisition date, the Company recorded a $0.3 million charge in cost of sales in the three months ended March 31, 2018 condensed consolidated financial statements. The pro forma adjustments reflect the elimination of this charge;

(2)

a net increase in amortization expense related to the fair value of the identifiable intangible assets of $0.3 million for the three months ended March 31, 2018 and a net decrease in amortization expense related to the fair value of the identifiable intangible assets of $0.2 million in the three months ended March 31, 2017;

(3)

the elimination of acquisition costs recorded in the three months ended March 31, 2018 of $0.8 million incurred by the Company;

(4)

an adjustment to reflect the refinancing of the Company’s debt in connection with the acquisition. The three months ended March 31, 2018 and 2017 reflects a net decrease of $0.9 million and $1.4 million, respectively, for the change in interest expense, amortization of debt issuance costs and elimination of historical debt and preferred interest expense of Filament;

(5)

an adjustment to reflect additional compensation for a key executive as a result of the acquisition;

(6)

an increase in the weighted average shares outstanding to reflect the issuance of consideration shares.

The unaudited pro forma results do not include any revenue or cost reductions that may be achieved through the business combination, or the impact of non-recurring items directly related to the business combination.

The unaudited pro forma results are not necessarily indicative of the operating results that would have occurred if the Filament acquisition had been completed as of the date for which the pro forma financial information is presented. In addition, the unaudited pro forma results do not purport to project the future condensed consolidated operating results of the combined company.

INVESTMENTS

3 Months Ended

Mar. 31, 2018

INVESTMENTS

NOTE D —INVESTMENTS

The Company owns approximately a 30% interest in Grupo Vasconia S.A.B. (“Vasconia”), an integrated manufacturer of aluminum products and one of Mexico’s largest housewares companies. Shares of Vasconia’s capital stock are traded on the Bolsa Mexicana de Valores, the Mexican Stock Exchange. The Quotation Key is VASCONI. The Company accounts for its investment in Vasconia using the equity method of accounting and records its proportionate share of Vasconia’s net income in the Company’s statement of operations. Accordingly, the Company has recorded its proportionate share of Vasconia’s net income (reduced for amortization expense related to the customer relationships acquired) for the three month periods ended March 31, 2018 and 2017 in the accompanying condensed consolidated statements of operations. The value of the Company’s investment balance has been translated from Mexican Pesos (“MXN”) to U.S. Dollars (“USD”) using the spot rates of MXN 18.16 and MXN 19.68 at March 31, 2018 and December 31, 2017, respectively. The Company’s proportionate share of Vasconia’s net income has been translated from MXN to USD using the average exchange rates of MXN 18.71 and MXN 20.30 during the three months ended March 31, 2018 and 2017, respectively. The effect of the translation of the Company’s investment resulted in an increase to the investment of $0.7 million and $1.3 million during the three months ended March 31, 2018 and 2017, respectively (also see Note M). These translation effects are recorded in accumulated other comprehensive income (loss). Included within prepaid expenses and other current assets at March 31, 2018 and December 31, 2017 are amounts due from Vasconia of $112,000 and $64,000, respectively. Included within accrued expenses and accounts payable at March 31, 2018 and December 31, 2017 are amounts due to Vasconia of $7,000 and $0, respectively.

A summarized statement of income information for Vasconia in USD and MXN is as follows:


	Three Months Ended
	March 31,
	2018						2017
	(in thousands)
	USD			MXN			USD		MXN
Net sales	$	39,570		$	740,406		$	36,823	$	747,495
Gross profit		7,119			133,207			7,853		159,421
Income from operations		1,149			21,503			2,430		49,329
Net (loss) income		(362	)		(6,776	)		1,234		25,043

The Company recorded equity in earnings of Vasconia, net of taxes, of $77,000 and $0.5 million, for the three months ended March 31, 2018 and 2017, respectively. Equity in earnings for the three months ended March 31, 2018 and 2017, includes deferred tax benefit of $0.2 million in both periods, due to the requirement to record tax benefits for foreign currency translation gains and losses through other comprehensive income (loss), with a corresponding adjustment to deferred tax liabilities.

As of March 31, 2018 and December 31, 2017, the fair value (based upon Vasconia’s quoted stock price) of the Company’s investment in Vasconia was $35.9 million and $31.8 million, respectively. The carrying value of the Company’s investment in Vasconia was $24.3 million and $23.8 million as of March 31, 2018 and December 31, 2017, respectively.

INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2018

INTANGIBLE ASSETS

NOTE E — INTANGIBLE ASSETS

Intangible assets consist of the following (in thousands):


	March 31, 2018							December 31, 2017
	Gross		Accumulated Amortization			Net		Gross		Accumulated Amortization			Net
Goodwill	$	98,889	$	—		$	98,889	$	15,772	$	—		$	15,772

Indefinite-lived intangible assets:
Trade names		64,816		—			64,816		7,616		—			7,616

Finite-lived intangible assets:
Licenses		15,847		(9,489	)		6,358		15,847		(9,375	)		6,472
Trade names		33,841		(11,926	)		21,915		33,368		(11,109	)		22,259
Customer relationships		193,492		(19,298	)		174,194		52,961		(16,966	)		35,995
Other		5,781		(866	)		4,915		1,165		(800	)		365

Total	$	412,666	$	(41,579	)	$	371,087	$	126,729	$	(38,250	)	$	88,479

A summary of the activities related to the Company’s intangible assets for the three months ended March 31, 2018 consists of the following (in thousands):


Goodwill and Intangible Assets, December 31, 2017	$	88,479
Goodwill acquired		82,613
Trade names acquired		57,200
Customer relationships acquired		139,200
Other intangibles acquired		4,600
Foreign currency translation adjustment		1,675
Amortization		(2,680	)

Goodwill and Intangible Assets, March 31, 2018	$	371,087

DEBT

3 Months Ended

Mar. 31, 2018

DEBT

NOTE F— DEBT

In connection with the Company’s acquisition of Filament, on March 2, 2018, the Company entered into a new credit agreement (the “ABL Agreement”) with JPMorgan Chase Bank, N.A. (“JPMorgan”), as administrative agent, and the lenders and issuing banks party thereto, evidencing a senior secured asset-based revolving credit facility provided to the Company in the maximum aggregate principal amount of $150.0 million, which facility will mature on March 2, 2023, and a new loan agreement (the “Term Loan” and together with the ABL Agreement, the “Debt Agreements”) with the Company, as the borrower and a guarantor, the other guarantors, JPMorgan, as administrative agent, Golub Capital LLC, as syndication agent, and the lenders party thereto, providing for a senior secured term loan credit facility to the Company in the original principal amount of $275.0 million, which will mature on February 28, 2025. The Term Loan facility will be repaid, commencing June 30, 2018, in quarterly payments of principal equal to 0.25% of the original aggregate principal amount of the term loan facility. The maximum borrowing under the ABL Agreement may be increased to up to $200.0 million if certain conditions are met. One or more tranches of additional term loans (the “Incremental Facilities”) may be added under the Term Loan if certain conditions are met. The Incremental Facilities may not exceed the sum of (i) $50.0 million plus (ii) an unlimited amount so long as, in the case of (ii) only, the Company’s secured net leverage ratio, as defined in and computed pursuant to the Term Loan, is no greater than 3.75 to 1.00 subject to certain limitations and for the period defined pursuant to the Term Loan.

At March 31, 2018, borrowings outstanding under the ABL Agreement were $45.0 million, and open letters of credit were $3.2 million. At March 31, 2018, availability under the ABL Agreement was approximately $79.5 million. Availability under the ABL Agreement depends on the valuation of certain current assets comprising the borrowing base. Due to the seasonality of the Company’s business, this may mean that the Company will have greater borrowing availability during the third and fourth quarters of each year. The borrowing capacity under the ABL Agreement will depend, in part, on eligible levels of accounts receivable and inventory that fluctuate regularly. Consequently, the $150.0 million commitment thereunder may not represent actual borrowing capacity.

At March 31, 2018, $275.0 million was outstanding under the Term Loan. At March 31, 2018, unamortized debt issuance costs of $1.5 million and $8.7 million offset the short-term and long-term outstanding balances, respectively, of the Term Loan.

The Company’s payment obligations under its Debt Agreements are unconditionally guaranteed by its existing and future U.S. subsidiaries with certain minor exceptions. Certain payment obligations under the ABL Agreement are also direct obligations of its foreign subsidiary borrowers designated as such under the ABL Agreement and, subject to limitations on such guaranty, are guaranteed by the foreign subsidiary borrowers, as well as by the Company. The obligations of the Company under the Debt Agreements and any hedging arrangements and cash management services and the guarantees by its domestic subsidiaries in respect of those obligations are secured by substantially all of the assets and stock (but in the case of foreign subsidiaries, limited to 65% of the capital stock in first-tier foreign subsidiaries and not including the stock of subsidiaries of such first-tier foreign subsidiaries) owned by the Company and the U.S. subsidiary guarantors, subject to certain exceptions. Such security interest consists of (1) a first-priority lien, subject to certain permitted liens, with respect to certain assets of the Company and its domestic subsidiaries (the “ABL Collateral”) pledged as collateral in favor of lenders under the ABL Agreement and a second-priority lien in the ABL Collateral in favor of the lenders under the Term Loan and (2) a first-priority lien, subject to certain permitted liens, with respect to certain assets of the Company and its domestic subsidiaries (the “Term Loan Collateral”) pledged as collateral in favor of lenders under the Term Loan and a second-priority lien in the Term Loan Collateral in favor of the lenders under the ABL Agreement.

Borrowings under the revolving credit facility bear interest, at the Company’s option, at one of the following rates: (i) alternate base rate, defined, for any day, as the greater of the prime rate, a federal funds and overnight bank funding based rate plus 0.5% or one-month LIBOR plus 1.0%, plus a margin of 0.25% to 0.75%, or (ii) LIBOR plus a margin of 1.25% to 1.75%. The respective margins are based upon the Company’s total leverage ratio, as defined in and computed pursuant to the ABL Agreement. The margin with respect to the revolving credit facility is, until financial statements for the first full fiscal quarter ending after the closing are delivered, 0.50% per annum in the case of base rate borrowings and 1.50% per annum in the case of LIBOR borrowings. Interest rates on outstanding borrowings under the ABL Agreement at March 31, 2018 ranged from 2.0% to 5.3%. In addition, the Company paid a commitment fee of 0.375% on the unused portion of the ABL Agreement during the three months ended March 31, 2018.

The term loan facility bears interest, at the Company’s option, at one of the following rates: (i) alternate base rate, defined, for any day, as the greater of the prime rate, a federal funds and overnight bank funding based rate plus 0.5% or one-month LIBOR plus 1.0%, plus a margin of 2.50% or (ii) LIBOR plus a margin of 3.50%. The interest rate on outstanding borrowings under the Term Loan at March 31, 2018 was 5.2%.

The Debt Agreements provide for customary restrictions and events of default. Restrictions include limitations on additional indebtedness, acquisitions, investments and payment of dividends, among other things. Further, the ABL Agreement provides that during any period (a) commencing on the last day of the most recently ended four consecutive fiscal quarters on or prior to the date availability under the ABL Agreement is less than the greater of $15.0 million and 10% of the aggregate commitment under the ABL Agreement at any time and (b) ending on the day after such availability has exceeded the greater of $15.0 million and 10% of the aggregate commitment under the ABL Agreement for forty-five (45) consecutive days, the Company is required to maintain a minimum fixed charge coverage ratio of 1.10 to 1.00 as of the last day of any period of four consecutive fiscal quarters.

The Company was in compliance with the covenants of the Debt Agreements at March 31, 2018.

At December 31, 2017, borrowings outstanding under the Company’s former credit facility were $94.7 million and open letters of credit were $3.2 million. Availability under the former credit agreement was approximately $58.0 million at December 31, 2017. Upon entering into the Debt Agreements in March 2018 the Company repaid its outstanding borrowings under its former credit agreement. In connection therewith, debt issuance costs of $66,000 were written off.

DERIVATIVES

3 Months Ended

Mar. 31, 2018

DERIVATIVES

NOTE G- DERIVATIVES

The Company has entered into certain foreign exchange contracts, primarily to offset the earnings impact related to fluctuations in foreign currency exchange rates associated with inventory purchases denominated in foreign currencies. The aggregate gross notional values of foreign exchange contracts at March 31, 2018 and December 31, 2017 were $28.3 million and $34.9 million, respectively. These foreign exchange contracts have not been designated as hedges as required in order to apply hedge accounting. The changes in the fair values of these contracts are recorded in earnings immediately.

The fair values of the Company’s derivative financial instruments included in the condensed consolidated balance sheets are presented as follows (in thousands):


Derivatives not designated as hedging instruments	Balance Sheet Location		March 31, 2018		December 31, 2017
Foreign exchange contracts		Accrued expenses	$	2,428	$	1,951

The fair values of the derivatives have been obtained from the counterparties to the agreements and were based on Level 2 observable inputs using proprietary models and estimates about relevant future market conditions.

The amounts of the gains and losses related to the Company’s derivative financial instruments not designated as hedging instruments are recognized in earnings as follows (in thousands):


		Three Months Ended March 31,
Derivatives not designated as hedging instruments	Location of loss	2018			2017
Foreign exchange contracts	Selling, general and administrative expense	$	(1,515	)	$	(189	)

In connection with the financing transaction described in Note F, the Company settled its outstanding interest rate swaps, which had an aggregate notional value of $5.3 million. The net gain reported in accumulated other comprehensive income at December 31, 2017 related to the interest rate swap was reclassified into interest expense during the three months ended March 31, 2018.

STOCK COMPENSATION

3 Months Ended

Mar. 31, 2018

STOCK COMPENSATION

NOTE H — STOCK COMPENSATION

Option Awards

A summary of the Company’s stock option activity and related information for the three months ended March 31, 2018 is as follows:


	Options			Weighted- average exercise price		Weighted- average remaining contractual life (years)		Aggregate intrinsic value
Options outstanding, January 1, 2018		1,456,200		$	13.64
Grants		150,000			13.75
Cancellations		(6,625	)		18.23
Expirations		(3,750	)		15.41

Options outstanding, March 31, 2018		1,595,825			13.63		4.8	$	1,393,000

Options exercisable, March 31, 2018		1,246,923		$	13.04		3.8	$	1,393,000

The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value that would have been received by the option holders had all option holders exercised their stock options on March 31, 2018. The intrinsic value is calculated for each in-the-money stock option as the difference between the closing price of the Company’s common stock on March 31, 2018 and the exercise price.

Total unrecognized stock option compensation expense at March 31, 2018, before the effect of income taxes, was $1.4 million and is expected to be recognized over a weighted-average period of 2.5 years.

Restricted Stock

A summary of the Company’s restricted stock activity and related information for the three months ended March 31, 2018 is as follows:


	Restricted Shares			Weighted- average grant date fair value
Non-vested restricted shares, January 1, 2018		219,317		$	17.12
Grants		75,944			13.65
Cancellations		(5,375	)		16.82

Non-vested restricted shares, March 31, 2018		289,886		$	16.22

Total unrecognized compensation expense remaining	$	3,486,000
Weighted-average years expected to be recognized over		2.6

No restricted stock vested during the three months ended March 31, 2018.

Performance shares

Each performance award represents the right to receive up to 150% of the target number of shares of common stock. The number of shares of common stock earned will be determined based on the attainment of specified performance goals by the end of the performance period, as determined by the Compensation Committee. The shares are subject to the terms and conditions of the Company’s Amended and Restated 2000 Long-Term Incentive Plan (the “Plan”).

A summary of the Company’s performance-based award activity and related information for the three months ended March 31, 2018 is as follows:


	Performance- based stock awards ⁽¹⁾			Weighted- average grant date fair value
Non-vested performance-based awards, January 1, 2018		228,892		$	16.49
Cancellations		(7,293	)		15.90
Vested		(58,888	)		14.84

Non-vested performance-based awards, March 31, 2018		162,711		$	17.11

Total unrecognized compensation expense remaining	$	1,419,000
Weighted-average years expected to be recognized over		1.5

(1)	Represents the target number of shares to be issued for each performance-based award.

The total fair value of performance-based awards that vested during the three months ended March 31, 2018 was $792,000.

The Company recognized total stock compensation expense of $0.8 million for the three months ended March 31, 2018, of which $0.2 million represents stock option compensation expense and $0.6 million represents restricted stock and performance based compensation expense. The Company recognized total stock compensation expense of $0.8 million for the three months ended March 31, 2017, of which $0.4 million represents stock option compensation expense and $0.4 million represents restricted stock and performance based compensation expense.

At March 31, 2018, there were 374,558 shares available for awards that could be granted under the Plan, assuming maximum performance of performance-based awards.

LOSS PER COMMON SHARE

3 Months Ended

Mar. 31, 2018

LOSS PER COMMON SHARE

NOTE I—LOSS PER COMMON SHARE

Basic loss per common share has been computed by dividing net loss by the weighted-average number of shares of the Company’s common stock outstanding during the relevant period. Diluted loss per common share adjusts net loss and basic loss per common share for the effect of all potentially dilutive shares of the Company’s common stock. The calculations of basic and diluted loss per common share for the three month periods ended March 31, 2018 and 2017 are as follows:


	Three Months Ended March 31,
	2018			2017
	(in thousands, except per share amounts)
Net loss– basic and diluted	$	(11,598	)	$	(1,331	)
Weighted-average shares outstanding – basic and diluted		16,601			14,396
Basic and diluted loss per common share	$	(0.70	)	$	(0.09	)

The computation of diluted loss per common share for the three months ended March 31, 2018 and 2017 excludes 1,885,711 shares and 2,003,162 shares, respectively, related to options to purchase shares and other stock awards. These shares were excluded due to their antidilutive effects.

INCOME TAXES

3 Months Ended

Mar. 31, 2018

INCOME TAXES

NOTE J — INCOME TAXES

On December 22, 2017, the legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”) was enacted. The Tax Act revises the U.S. corporate income tax by, among other things, lowering the corporate income tax rate from 35% to 21%, adopting a quasi-territorial income tax system and imposing a one-time transition tax on foreign unremitted earnings, and setting limitations on deductibility of certain costs (e.g., interest expense).

The Securities and Exchange Commission issued Staff Accounting Bulletin (“SAB”) 118 to provide guidance to companies that have not yet completed their accounting for the Tax Act in the period of enactment. SAB 118 provides that the Company include in its financial statements a reasonable estimate of the impact of the Tax Act on earnings to the extent such estimate has been determined. Accordingly, the Company recorded a provisional income tax expense of $3.3 million in the year ended December 31, 2017 associated with the re-measurement of the Company’s deferred tax assets stemming from the reduction of the U.S. federal income tax rate and one-time transition tax on the Company’s material wholly owned foreign subsidiaries’ accumulated, unremitted earnings, based on the reasonable estimate guidance provided by SAB 118.

As of March 31, 2018 the Company has not changed the provisional estimates recognized in 2017 and the Company is not yet able to calculate a reasonable estimate for the impact of the one-time transition tax on the Company’s equity investment due to the complexity of calculating accumulated foreign earnings and profits, foreign tax paid, and other tax components involved in foreign tax credit calculations for applicable years after 1986.

Beginning January 1, 2018, the Tax Act subjects the Company to a tax on global intangible low-taxed income (“GILTI”) earned by certain foreign subsidiaries, base erosion anti-abuse tax (“BEAT”), foreign derived intangible income tax (“FDII”), and IRC Section 163(j) interest limitation (“Interest Limitation”). Entities can make an accounting policy election to either recognize deferred taxes for temporary basis differences expected to reverse as GILTI in future years or provide for the tax expense related to GILTI in the year the tax is incurred. Given the complexity of the GILTI provisions, the Company is still evaluating the tax impact and has not yet made the accounting policy election. As of March 31, 2018, the Company was able to reasonably estimate provisional adjustments, based on current year operations only, related to GILTI and FDII that have been recognized in the Company’s financial statements. For the BEAT and Interest Limitation impact of the Tax Act, the Company has not recorded a provisional estimate in its effective tax rate for the three months ended March 31, 2018 because the Company does not currently estimate that these provisions of the Tax Act will apply in 2018.

Pursuant to SAB 118, the Company is allowed a measurement period of up to one year after the enactment date of the Tax Act to finalize the recording of the related tax impacts. The Company will continue to calculate the impact of the Tax Act and will record any resulting tax adjustments during 2018.

Income tax benefit of $3.8 million and $0.9 million for the three months ended March 31, 2018 and 2017, respectively, represent taxes on both U.S. and foreign earnings at a combined effective income tax benefit rates of 24.6% and 33.5%, respectively. The effective rate for the three months ended March 31, 2018 reflects the reduced U.S. corporate income tax rate, partially offset by non-deductible expenses. The effective tax rate for the three months ended March 31, 2017 reflects income derived from foreign sources being taxed at a lower income tax rate, as well as the release of a tax liability related to an uncertain tax position.

On a quarterly basis, the Company evaluates its tax positions and revises its estimates accordingly. The estimated value of the Company’s uncertain tax positions at March 31, 2018 is a gross liability of tax and interest of $3.7 million. The Company believes that $2.8 of its tax positions will be resolved within the next twelve months.

The Company has identified the following jurisdictions as “major” tax jurisdictions: U.S. Federal, California, Massachusetts, New York, New Jersey, Illinois and the United Kingdom. The Company is no longer subject to U.S. Federal income tax examinations for the years prior to 2014. At March 31, 2018, the periods subject to examination for the Company’s major state jurisdictions are the years ended 2013 through 2017.

The Company’s policy for recording interest and penalties is to record such items as a component of income taxes. Interest and penalties were not material to the Company’s results of operations or cash flows as of and for the three month periods ended March 31, 2018 and 2017. At March 31, 2018, interest and penalties included in the Company’s uncertain tax position gross liability was approximately $1.0 million.

BUSINESS SEGMENTS

3 Months Ended

Mar. 31, 2018

BUSINESS SEGMENTS

NOTE K– BUSINESS SEGMENTS

The Company has three reportable business segments: U.S. Wholesale, International and Retail Direct. The U.S. Wholesale segment is the Company’s primary domestic business that designs, markets and distributes its products to retailers and distributors. The International segment consists of certain business operations conducted outside the U.S. The Retail Direct segment is where the Company markets and sells a limited selection of its products directly to consumers through third party and its own internet websites.

The Company has segmented its operations to reflect the manner in which management reviews and evaluates the results of its operations. While the three segments distribute similar products, the segments are distinct due to the different methods the Company uses to sell, market, and distribute the products. Management evaluates the performance of the U.S. Wholesale, International and Retail Direct segments based on net sales and income (loss) from operations. Such measures give recognition to specifically identifiable operating costs such as cost of sales, distribution expenses and selling, general and administrative expenses. Certain general and administrative expenses, such as senior executive salaries and benefits, stock compensation, director fees and accounting, legal and consulting fees, are not allocated to the specific segments and are reflected as unallocated corporate expenses.


	Three Months Ended March 31,
	2018			2017
	(in thousands)
Net sales
U.S. Wholesale	$	90,795		$	87,392
International		21,846			21,228
Retail Direct		5,528			4,736

Total net sales	$	118,169		$	113,356

Income (loss) from operations
U.S. Wholesale	$	(5,528	)	$	2,235
International		(3,220	)		(1,157	)
Retail Direct		(12	)		116
Unallocated corporate expenses		(4,556	)		(3,068	)

Loss from operations	$	(13,316	)	$	(1,874	)

Depreciation and amortization
U.S. Wholesale	$	3,091		$	2,302
International		1,162			951
Retail Direct		56			33

Total depreciation and amortization	$	4,309		$	3,286


	March 31, 2018		December 31, 2017
	(in thousands)
Assets
U.S. Wholesale	$	597,784	$	281,398
International		107,726		105,984
Retail Direct		612		613
Unallocated/ Corporate/ Other		20,793		13,526

Total assets	$	726,915	$	401,521

CONTINGENCIES

3 Months Ended

Mar. 31, 2018

CONTINGENCIES

NOTE L — CONTINGENCIES

Wallace Silversmiths de Puerto Rico, Ltd. (“WSPR”), a wholly-owned subsidiary of the Company, operates a manufacturing facility in San Germán, Puerto Rico that is leased from the Puerto Rico Industrial Development Company (“PRIDCO”). In March 2008, the United States Environmental Protection Agency (the “EPA”) announced that the San Germán Ground Water Contamination site in Puerto Rico (the “Site”) had been added to the Superfund National Priorities List due to contamination present in the local drinking water supply.

In May 2008, WSPR received from the EPA a Notice of Potential Liability and Request for Information Pursuant to 42 U.S.C. Sections 9607(a) and 9604(e) of the Comprehensive Environmental Response, Compensation, and Liability Act (“CERCLA”). In July 2011, WSPR received a letter from the EPA requesting access to the property that it leases from PRIDCO to conduct an environmental investigation, and the Company granted such access. In February 2013, the EPA requested access to conduct a further environmental investigation at the property. PRIDCO agreed to such access and the Company consented. The EPA conducted a further investigation during 2013 and, in April 2015, notified the Company and PRIDCO that the results from vapor intrusion sampling may warrant implementation of measures to mitigate potential exposure to sub-slab soil gas. The Company reviewed the information provided by the EPA and requested that PRIDCO, as the property owner, find and implement a solution acceptable to the EPA. While WSPR did not cause the sub-surface condition that resulted in the potential for vapor intrusion, in order to protect the health of its employees and continue its business operations, it has nevertheless implemented corrective action measures to prevent vapor intrusion such as sealing floors of the building and conducting periodic air monitoring to address potential exposure. On August 13, 2015, the EPA released its remedial investigation and feasibility study (“RI/FS”) for the Site. On December 11, 2015, the EPA issued the Record of Decision (“ROD”) for an initial operable unit, electing to implement its preferred remedy which consists of soil vapor extraction and dual-phase extraction/in-situ treatment. This selected remedy includes soil vapor extraction (“SVE”) to address soil (vadose zone) source areas at the Site, impermeable cover as necessary for the implementation of SVE, dual phase extraction in the shallow saprolite zone, and in-situ treatment as needed to address residual sources. The EPA’s estimated capital cost for its selected remedy is $7.3 million. The EPA also designated a second operable unit under which the EPA will conduct further investigations to determine the nature and extent of groundwater contamination, as well as a determination by the EPA on the necessity of any further response actions to address groundwater contamination. In February 2017, the EPA indicated that it plans to expand its field investigation for the RI/FS for the second operable unit to further determine the nature and extent of the groundwater contamination at and from the Site and to determine the nature of the remedial action needed to address the contamination. The EPA has requested access to the property occupied by WSPR to install monitoring wells and to undertake groundwater sampling as part of this expanded investigation. WSPR has consented to the EPA’s access request, provided that the EPA receives PRIDCO’s consent, as the property owner. WSPR never used the primary contaminant of concern and did not take up its tenancy at the Site until after the EPA had discovered the contamination in the local water supply. The EPA has also issued notices of potential liability to a number of other entities affiliated with the Site, which used the contaminants of concern.

Accordingly, based on the above uncertainties and variables, it is not possible at this time for the Company to estimate its share of liability, if any, related to this matter. However, in the event of one or more adverse determinations related to this matter, it is possible that the ultimate liability resulting from this matter and the impact on the Company’s results of operations could be material.

The Company is, from time to time, involved in other legal proceedings. The Company believes that other current litigation is routine in nature and incidental to the conduct of the Company’s business and that none such litigation, individually or collectively, would have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows.

OTHER

3 Months Ended

Mar. 31, 2018

OTHER

NOTE M — OTHER

Cash dividends

On March 8, 2018, the Board of Directors declared a quarterly dividend of $0.0425 per share payable on May 15, 2018 to shareholders of record on May 1, 2018. As of March 31, 2018, the Company accrued $0.9 million for the payment of these dividends. On February 15, 2018, the Company paid dividends of $624,000 to shareholders of record on February 1, 2018.

Supplemental cash flow information


	Three Months Ended March 31,
	2018		2017
	(in thousands)
Supplemental disclosure of cash flow information:
Cash paid for interest	$	746	$	787
Cash paid for taxes		70		537

Non-cash investing activities:
Translation gain adjustment	$	3,380	$	1,976

Components of accumulated other comprehensive loss, net


	Three Months Ended March 31,
	2018			2017
	(in thousands)
Accumulated translation adjustment:
Balance at beginning of period	$	(27,821	)	$	(35,644	)
Translation gain during period		3,380			1,976

Balance at end of period	$	(24,441	)	$	(33,668	)

Accumulated deferred gains (losses) on cash flow hedges:
Balance at beginning of period	$	14		$	(3	)
Amounts reclassified from accumulated other comprehensive loss: ⁽¹⁾
Settlement of cash flow hedge		(14	)		—
Derivative fair value adjustment, net of taxes of $0 and $9 for the three month periods ended March 31, 2018 and 2017, respectively.		—			13

Balance at end of period	$	—		$	10

Accumulated effect of retirement benefit obligations:
Balance at beginning of period	$	(1,518	)	$	(1,352	)
Amounts reclassified from accumulated other comprehensive loss: ⁽²⁾
Amortization of actuarial losses, net of taxes of $12 and $10 for the three month periods ended March 31, 2018 and 2017, respectively.		18			15

Balance at end of period	$	(1,500	)	$	(1,337	)

(1)	Amount is recorded as interest expense on the condensed consolidated statement of operations.

(2)	Amounts are recorded in selling, general and administrative expense on the condensed consolidated statements of operations.

BASIS OF PRESENTATION AND SUMMARY ACCOUNTING POLICIES (Policies)

3 Months Ended

Mar. 31, 2018

Basis of presentation

Basis of presentation

Operating results for the three month period ended March 31, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018.

Revenue recognition

Revenue recognition

Cost of sales

Cost of sales

Cost of sales consists primarily of costs associated with the production and procurement of product, inbound freight costs, purchasing costs, royalties and other product procurement related charges.

Distribution expenses

Distribution expenses

Distribution expenses consist primarily of warehousing expenses and freight-out expenses.

Accounts receivable

Accounts receivable

Receivable purchase agreement

Receivable purchase agreement

Inventory

Inventory

Inventory consists principally of finished goods sourced from third-party suppliers. Inventory also includes finished goods, work in process and raw materials related to the Company’s manufacture of sterling silver products. Inventory is priced using the lower of cost (first-in, first-out basis) or net realizable value. The Company estimates the selling price of its inventory on a product by product basis based on the current selling environment. If the estimated selling price is lower than the inventory’s cost, the Company reduces the value of the inventory to its net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predicable cost of completion, disposal and transportation.

The components of inventory are as follows:


	March 31, 2018		December 31, 2017
	(in thousands)
Finished goods	$	175,946	$	129,611
Work in process		357		1,548
Raw materials		1,264		1,277

Total	$	177,567	$	132,436

Fair value of financial instruments

Fair value of financial instruments

Derivatives

Derivatives

For derivatives that do not qualify or are not designated as hedging instruments for accounting purposes, changes in fair value are recorded in operations.

Goodwill, intangible assets and long-lived assets

Goodwill, intangible assets and long-lived assets

Employee healthcare

Employee healthcare

Restructuring expenses

Restructuring expenses

Adoption of new accounting pronouncements

Adoption of new accounting pronouncements

Accounting pronouncements to be adopted in future periods

Accounting pronouncements to be adopted in future periods

BASIS OF PRESENTATION AND SUMMARY ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2018

Components of Inventory

The components of inventory are as follows:


	March 31, 2018		December 31, 2017
	(in thousands)
Finished goods	$	174,565	$	129,611
Work in process		1,738		1,548
Raw materials		1,264		1,277

Total	$	177,567	$	132,436

REVENUE (Tables)

3 Months Ended

Mar. 31, 2018

Summary of Company's Revenue Disaggregated by Geographic Region and Revenue

The following tables present the Company’s net sales disaggregated by segment, product category and geographic region for the three months ended March 31, 2018 (in thousands).


U.S. Wholesale
Kitchenware	$	56,965
Tableware		20,905
Home Solutions		12,925
International
Kitchenware		13,000
Tableware		8,846
Retail Direct		5,528

	$	118,169

United States	$	91,714
United Kingdom		15,623
Rest of World		10,832

	$	118,169

ACQUISITION (Tables)

3 Months Ended

Mar. 31, 2018

Summary of Purchase Price

The purchase price has been determined to be as follows (in thousands):


Cash	$	218,917
Share consideration		76,905

Total purchase price	$	295,822

Summary of Purchase Price Allocated Based on Estimated Fair Value of Assets and Liabilities

The purchase price was allocated based on the Company’s preliminary estimate of the fair value of the assets acquired and liabilities assumed, as follows (in thousands):


Accounts receivable	$	26,453
Inventory		26,696
Other assets		10,086
Other liabilities		(24,393	)
Deferred income tax		(26,633	)
Goodwill and other intangibles		283,613

Total allocated value	$	295,822

Summary of Pro Forma Consolidated Net Sales and Income (Loss) Before Income Taxes and Equity in Earnings


	Unaudited pro forma results
	Three Months Ended
	March 31, 2018			March 31, 2017
	(In thousands, except per share data)
Net sales	$	143,980		$	158,270
Loss before income taxes and equity in earnings		(15,844	)		(4,962	)
Net loss		(11,868	)		(2,566	)
Basic and diluted loss per common share		(0.58	)		(0.13	)

INVESTMENTS (Tables)

3 Months Ended

Mar. 31, 2018

Grupo Vasconia S.A.B.

Summarized Income Statement Information for Vasconia in USD and MXN

A summarized statement of income information for Vasconia in USD and MXN is as follows:


	Three Months Ended
	March 31,
	2018						2017
	(in thousands)
	USD			MXN			USD		MXN
Net sales	$	39,570		$	740,406		$	36,823	$	747,495
Gross profit		7,119			133,207			7,853		159,421
Income from operations		1,149			21,503			2,430		49,329
Net (loss) income		(362	)		(6,776	)		1,234		25,043

INTANGIBLE ASSETS (Tables)

3 Months Ended

Mar. 31, 2018

Components of Intangible Assets

Intangible assets consist of the following (in thousands):


	March 31, 2018							December 31, 2017
	Gross		Accumulated Amortization			Net		Gross		Accumulated Amortization			Net
Goodwill	$	98,889	$	—		$	98,889	$	15,772	$	—		$	15,772

Indefinite-lived intangible assets:
Trade names		64,816		—			64,816		7,616		—			7,616

Finite-lived intangible assets:
Licenses		15,847		(9,489	)		6,358		15,847		(9,375	)		6,472
Trade names		33,841		(11,926	)		21,915		33,368		(11,109	)		22,259
Customer relationships		193,492		(19,298	)		174,194		52,961		(16,966	)		35,995
Other		5,781		(866	)		4,915		1,165		(800	)		365

Total	$	412,666	$	(41,579	)	$	371,087	$	126,729	$	(38,250	)	$	88,479

Summary of Activities Relating to Intangible Assets

A summary of the activities related to the Company’s intangible assets for the three months ended March 31, 2018 consists of the following (in thousands):


Goodwill and Intangible Assets, December 31, 2017	$	88,479
Goodwill acquired		82,613
Trade names acquired		57,200
Customer relationships acquired		139,200
Other intangibles acquired		4,600
Foreign currency translation adjustment		1,675
Amortization		(2,680	)

Goodwill and Intangible Assets, March 31, 2018	$	371,087

DERIVATIVES (Tables)

3 Months Ended

Mar. 31, 2018

Fair Values of Derivative Financial Instruments Included in Condensed Consolidated Balance Sheets

The fair values of the Company’s derivative financial instruments included in the condensed consolidated balance sheets are presented as follows (in thousands):


Derivatives not designated as hedging instruments	Balance Sheet Location		March 31, 2018		December 31, 2017
Foreign exchange contracts		Accrued expenses	$	2,428	$	1,951

Gains and Losses Related to Derivative Financial Instruments Not Designated as Hedging Instruments

The amounts of the gains and losses related to the Company’s derivative financial instruments not designated as hedging instruments are recognized in earnings as follows (in thousands):


		Three Months Ended March 31,
Derivatives not designated as hedging instruments	Location of loss	2018			2017
Foreign exchange contracts	Selling, general and administrative expense	$	(1,515	)	$	(189	)

STOCK COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2018

Summary of Stock Option Activity and Related Information

A summary of the Company’s stock option activity and related information for the three months ended March 31, 2018 is as follows:


	Options			Weighted- average exercise price		Weighted- average remaining contractual life (years)		Aggregate intrinsic value
Options outstanding, January 1, 2018		1,456,200		$	13.64
Grants		150,000			13.75
Cancellations		(6,625	)		18.23
Expirations		(3,750	)		15.41

Options outstanding, March 31, 2018		1,595,825			13.63		4.8	$	1,393,000

Options exercisable, March 31, 2018		1,246,923		$	13.04		3.8	$	1,393,000

Summary of Restricted Stock Activity

A summary of the Company’s restricted stock activity and related information for the three months ended March 31, 2018 is as follows:


	Restricted Shares			Weighted- average grant date fair value
Non-vested restricted shares, January 1, 2018		219,317		$	17.12
Grants		75,944			13.65
Cancellations		(5,375	)		16.82

Non-vested restricted shares, March 31, 2018		289,886		$	16.22

Total unrecognized compensation expense remaining	$	3,486,000
Weighted-average years expected to be recognized over		2.6

Summary of Performance-based Award Activity

A summary of the Company’s performance-based award activity and related information for the three months ended March 31, 2018 is as follows:


	Performance- based stock awards ⁽¹⁾			Weighted- average grant date fair value
Non-vested performance-based awards, January 1, 2018		228,892		$	16.49
Cancellations		(7,293	)		15.90
Vested		(58,888	)		14.84

Non-vested performance-based awards, March 31, 2018		162,711		$	17.11

Total unrecognized compensation expense remaining	$	1,419,000
Weighted-average years expected to be recognized over		1.5

(1)	Represents the target number of shares to be issued for each performance-based award.

LOSS PER COMMON SHARE (Tables)

3 Months Ended

Mar. 31, 2018

Calculations of Basic and Diluted Loss per Common Share

The calculations of basic and diluted loss per common share for the three month periods ended March 31, 2018 and 2017 are as follows:


	Three Months Ended March 31,
	2018			2017
	(in thousands, except per share amounts)
Net loss– basic and diluted	$	(11,598	)	$	(1,331	)
Weighted-average shares outstanding – basic and diluted		16,601			14,396
Basic and diluted loss per common share	$	(0.70	)	$	(0.09	)

BUSINESS SEGMENTS (Tables)

3 Months Ended

Mar. 31, 2018

Segment Reporting Information


	Three Months Ended March 31,
	2018			2017
	(in thousands)
Net sales
U.S. Wholesale	$	90,795		$	87,392
International		21,846			21,228
Retail Direct		5,528			4,736

Total net sales	$	118,169		$	113,356

Income (loss) from operations
U.S. Wholesale	$	(5,528	)	$	2,235
International		(3,220	)		(1,157	)
Retail Direct		(12	)		116
Unallocated corporate expenses		(4,556	)		(3,068	)

Loss from operations	$	(13,316	)	$	(1,874	)

Depreciation and amortization
U.S. Wholesale	$	3,091		$	2,302
International		1,162			951
Retail Direct		56			33

Total depreciation and amortization	$	4,309		$	3,286


	March 31, 2018		December 31, 2017
	(in thousands)
Assets
U.S. Wholesale	$	597,784	$	281,398
International		107,726		105,984
Retail Direct		612		613
Unallocated/ Corporate/ Other		20,793		13,526

Total assets	$	726,915	$	401,521

OTHER (Tables)

3 Months Ended

Mar. 31, 2018

Supplemental Cash Flow Information

Supplemental cash flow information


	Three Months Ended March 31,
	2018		2017
	(in thousands)
Supplemental disclosure of cash flow information:
Cash paid for interest	$	746	$	787
Cash paid for taxes		70		537

Non-cash investing activities:
Translation gain adjustment	$	3,380	$	1,976

Components of Accumulated Other Comprehensive Loss, Net

Components of accumulated other comprehensive loss, net


	Three Months Ended March 31,
	2018			2017
	(in thousands)
Accumulated translation adjustment:
Balance at beginning of period	$	(27,821	)	$	(35,644	)
Translation gain during period		3,380			1,976

Balance at end of period	$	(24,441	)	$	(33,668	)

Accumulated deferred gains (losses) on cash flow hedges:
Balance at beginning of period	$	14		$	(3	)
Amounts reclassified from accumulated other comprehensive loss: ⁽¹⁾
Settlement of cash flow hedge		(14	)		—
Derivative fair value adjustment, net of taxes of $0 and $9 for the three month periods ended March 31, 2018 and 2017, respectively.		—			13

Balance at end of period	$	—		$	10

Accumulated effect of retirement benefit obligations:
Balance at beginning of period	$	(1,518	)	$	(1,352	)
Amounts reclassified from accumulated other comprehensive loss: ⁽²⁾
Amortization of actuarial losses, net of taxes of $12 and $10 for the three month periods ended March 31, 2018 and 2017, respectively.		18			15

Balance at end of period	$	(1,500	)	$	(1,337	)

(1)	Amount is recorded as interest expense on the condensed consolidated statement of operations.

(2)	Amounts are recorded in selling, general and administrative expense on the condensed consolidated statements of operations.

Basis of Presentation and Summary Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016
Schedule Of Significant Accounting Policies [Line Items]
Percentage of total annual net sales in the third and fourth quarters			60.00%	61.00%
Restructuring charges	$ 406
Receivables Purchase Agreement
Schedule Of Significant Accounting Policies [Line Items]
Sale of receivable	19,600	$ 21,600
Receivables Purchase Agreement \| Selling, General and Administrative Expenses
Schedule Of Significant Accounting Policies [Line Items]
Charge related to sale of receivables	$ 90	$ 67

Components of Inventory (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Inventory [Line Items]
Finished goods	$ 174,565	$ 129,611
Work in process	1,738	1,548
Raw materials	1,264	1,277
Total	$ 177,567	$ 132,436

Revenue - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disaggregation of Revenue [Line Items]
Shipping and handling revenue	$ 545	$ 561

Summary of Company's Revenue Disaggregated by Geographic Region and Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disaggregation of Revenue [Line Items]
Net sales	$ 118,169	$ 113,356
U. S. Wholesale
Disaggregation of Revenue [Line Items]
Net sales	90,795	87,392
U. S. Wholesale \| Kitchenware
Disaggregation of Revenue [Line Items]
Net sales	56,965
U. S. Wholesale \| Tableware
Disaggregation of Revenue [Line Items]
Net sales	20,905
U. S. Wholesale \| Home Solutions
Disaggregation of Revenue [Line Items]
Net sales	12,925
International \| Kitchenware
Disaggregation of Revenue [Line Items]
Net sales	13,000
International \| Tableware
Disaggregation of Revenue [Line Items]
Net sales	8,846
Retail Direct
Disaggregation of Revenue [Line Items]
Net sales	5,528	$ 4,736
United States
Disaggregation of Revenue [Line Items]
Net sales	91,714
United Kingdom
Disaggregation of Revenue [Line Items]
Net sales	15,623
Rest of World
Disaggregation of Revenue [Line Items]
Net sales	$ 10,832

Acquisition - Additional Information (Detail) - USD ($) $ in Thousands		3 Months Ended
	Mar. 02, 2018	Mar. 31, 2018	Mar. 31, 2017
Business Acquisition [Line Items]
Cost of sales		$ 73,082	$ 69,415
Filament
Business Acquisition [Line Items]
Business acquisition, date of acquisition agreement		Dec. 22, 2017
Business acquisition, effective date of acquisition		Mar. 02, 2018
Aggregate acquisition agreement amount	$ 295,822
Business acquisition, cash consideration	$ 218,917
Business acquisition, equity interest issued or issuable, number of shares	5,593,116
Business combination, consideration transferred, equity interests issued and issuable	$ 76,905
Net sales		$ 9,300
Net loss from operations		(1,100)
Increase in fair value of acquired inventory		1,500
Cost of sales		300
Net increase decrease in amortization expense related to fair value of the identifiable intangible assets		300	(200)
Elimination of acquisition costs		800
Net decrease for the change in interest expense, amortization of debt issuance costs and elimination of historical debt and preferred interest expense		$ (900)	$ (1,400)

Summary of Purchase Price (Detail) - Filament $ in Thousands	Mar. 02, 2018 USD ($)
Business Acquisition [Line Items]
Cash	$ 218,917
Share consideration	76,905
Total purchase price	$ 295,822

Summary of Purchase Price Allocated Based on Estimated Fair Value of Assets and Liabilities (Detail) - Filament $ in Thousands	Mar. 02, 2018 USD ($)
Business Acquisition [Line Items]
Accounts receivable	$ 26,453
Inventory	26,696
Other assets	10,086
Other liabilities	(24,393)
Deferred income tax	(26,633)
Goodwill and other intangibles	283,613
Total allocated value	$ 295,822

Summary of Pro Forma Consolidated Net Sales and Income (Loss) Before Income Taxes and Equity in Earnings (Detail) - Filament - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Business Acquisition [Line Items]
Net sales	$ 143,980	$ 158,270
Loss before income taxes and equity in earnings	(15,844)	(4,962)
Net loss	$ (11,868)	$ (2,566)
Basic and diluted loss per common share	$ (0.58)	$ (0.13)

Investments - Additional Information (Detail)	3 Months Ended
Investments - Additional Information (Detail)	Mar. 31, 2018 USD ($) $ / $	Mar. 31, 2017 USD ($) $ / $	Dec. 31, 2017 USD ($) $ / $
Schedule of Equity Method Investments [Line Items]
Equity in earnings (losses), net of taxes	$ 77,000	$ 540,000
Grupo Vasconia S.A.B.
Schedule of Equity Method Investments [Line Items]
Percentage of ownership in equity method investment	30.00%
Exchange rate at period end - MXN to USD \| $ / $	18.16		19.68
Increase in equity method investment	$ 700,000	1,300,000
Equity in earnings (losses), net of taxes	77,000	500,000
Equity in earnings, deferred taxes	200,000	$ 200,000
Fair value of investment	35,900,000		$ 31,800,000
Carrying value of investment	24,300,000		23,800,000
Grupo Vasconia S.A.B. \| Prepaid expenses and other current assets
Schedule of Equity Method Investments [Line Items]
Due from related party	112,000		64,000
Grupo Vasconia S.A.B. \| Accounts payable and accrued expenses
Schedule of Equity Method Investments [Line Items]
Due to related party	$ 7,000		$ 0
Grupo Vasconia S.A.B. \| Transaction 02
Schedule of Equity Method Investments [Line Items]
Average daily exchange rate for period - MXN to USD \| $ / $	18.71	20.30

Summarized Statement of Income Information for Vasconia in USD and MXN (Detail) - Grupo Vasconia S.A.B. $ in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018 USD ($)	Mar. 31, 2018 MXN ($)	Mar. 31, 2017 USD ($)	Mar. 31, 2017 MXN ($)
Schedule of Equity Method Investments [Line Items]
Net sales	$ 39,570	$ 740,406	$ 36,823	$ 747,495
Gross profit	7,119	133,207	7,853	159,421
Income from operations	1,149	21,503	2,430	49,329
Net (loss) income	$ (362)	$ (6,776)	$ 1,234	$ 25,043

Components of Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Schedule of Intangible Assets Disclosure [Line Items]
Goodwill, Gross	$ 98,889	$ 15,772
Goodwill, Accumulated Amortization	0	0
Goodwill, Net	98,889	15,772
Indefinite-Lived Trade Names, Gross	64,816	7,616
Indefinite-Lived Trade Names, Accumulated Amortization	0	0
Indefinite-Lived Trade Names, Net	64,816	7,616
Intangible Assets, Gross (Including Goodwill)	412,666	126,729
Finite-Lived Intangible Assets, Accumulated Amortization	(41,579)	(38,250)
Intangible Assets, Net (Including Goodwill)	371,087	88,479
License
Schedule of Intangible Assets Disclosure [Line Items]
Finite-Lived Intangible Assets, Gross	15,847	15,847
Finite-Lived Intangible Assets, Accumulated Amortization	(9,489)	(9,375)
Finite-Lived Intangible Assets, Net	6,358	6,472
Trade Names
Schedule of Intangible Assets Disclosure [Line Items]
Finite-Lived Intangible Assets, Gross	33,841	33,368
Finite-Lived Intangible Assets, Accumulated Amortization	(11,926)	(11,109)
Finite-Lived Intangible Assets, Net	21,915	22,259
Customer Relationships
Schedule of Intangible Assets Disclosure [Line Items]
Finite-Lived Intangible Assets, Gross	193,492	52,961
Finite-Lived Intangible Assets, Accumulated Amortization	(19,298)	(16,966)
Finite-Lived Intangible Assets, Net	174,194	35,995
Other
Schedule of Intangible Assets Disclosure [Line Items]
Finite-Lived Intangible Assets, Gross	5,781	1,165
Finite-Lived Intangible Assets, Accumulated Amortization	(866)	(800)
Finite-Lived Intangible Assets, Net	$ 4,915	$ 365

Intangible Assets (Detail) $ in Thousands	3 Months Ended
Intangible Assets (Detail) $ in Thousands	Mar. 31, 2018 USD ($)
Goodwill and Intangible Assets
Goodwill and intangible assets, Beginning Balance	$ 88,479
Goodwill acquired	82,613
Foreign currency translation adjustment	1,675
Amortization	(2,680)
Goodwill and Intangible Assets, Ending Balance	371,087
Trade Names
Goodwill and Intangible Assets
Intangible assets acquired	57,200
Customer Relationships
Goodwill and Intangible Assets
Intangible assets acquired	139,200
Other
Goodwill and Intangible Assets
Intangible assets acquired	$ 4,600

Debt - Additional Information (Detail) $ in Thousands		3 Months Ended
Debt - Additional Information (Detail) $ in Thousands	Mar. 02, 2018 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Term Loan
Debt Instrument [Line Items]
Debt instrument, face amount	$ 275,000
Debt instrument, maturity date	Feb. 28, 2025
Debt instrument, quarterly repayment percentage of principal	0.25%
Debt instrument, date of first required payment	Jun. 30, 2018
Line of credit facility, description	The Incremental Facilities may not exceed the sum of (i) $50.0 million plus (ii) an unlimited amount so long as, in the case of (ii) only, the Company's secured net leverage ratio, as defined in and computed pursuant to the Term Loan, is no greater than 3.75 to 1.00 subject to certain limitations and for the period defined pursuant to the Term Loan.
Debt instrument leverage ratio	3.75
Outstanding borrowings under term loan		$ 275,000
Unamortized debt issuance costs- short term		1,500
Unamortized debt issuance costs- long term		$ 8,700
Interest rates on outstanding borrowings		5.20%
Line of credit facility description		The term loan facility bears interest, at the Company's option, at one of the following rates (i) alternate base rate, defined, for any day, as the greater of the prime rate, a federal funds and overnight bank funding based rate plus 0.5% or one-month LIBOR plus 1.0%, plus a margin of 2.50% or (ii) LIBOR plus a margin of 3.50%.
Term Loan \| Prime rate, federal funds and overnight bank funding based rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.50%
Term Loan \| One-month LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.00%
Term Loan \| Alternate Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2.50%
Term Loan \| LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		3.50%
Former Credit Facility
Debt Instrument [Line Items]
Outstanding borrowing under credit facility			$ 94,700
Open letters of credit			3,200
Availability under credit facility			$ 58,000
Write off of debt issuance cost		$ 66
ABL Agreement
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity		150,000
Outstanding borrowing under credit facility		45,000
Open letters of credit		3,200
Availability under credit facility		$ 79,500
Credit facility, maximum borrowing capacity terms		The borrowing capacity under the ABL Agreement will depend, in part, on eligible levels of accounts receivable and inventory that fluctuate regularly. Consequently, the $150.0 million commitment thereunder may not represent actual borrowing capacity.
ABL Agreement \| Senior Secured Asset Based Revolving Credit Facilities
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 150,000
Line of credit facility, expiration date	Mar. 02, 2023
Line of credit facility maximum borrowing capacity if certain conditions are met	$ 200,000
Increase in line of credit facility	$ 50,000
ABL Agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility description		Borrowings under the revolving credit facility bear interest, at the Company's option, at one of the following rates (i) alternate base rate, defined, for any day, as the greater of the prime rate, a federal funds and overnight bank funding based rate plus 0.5% or one-monthLIBOR plus 1.0%, plus a margin of 0.25% to 0.75%, or (ii) LIBOR plus a margin of 1.25% to 1.75%. The respective margins are based upon the Company's total leverage ratio, as defined in and computed pursuant to the ABL Agreement
ABL Agreement \| Revolving Credit Facility \| Minimum
Debt Instrument [Line Items]
Interest rates on outstanding borrowings		2.00%
Percentage of line of credit facility unused capacity commitment fee		0.375%
ABL Agreement \| Revolving Credit Facility \| Maximum
Debt Instrument [Line Items]
Interest rates on outstanding borrowings		5.30%
ABL Agreement \| Revolving Credit Facility \| Prime rate, federal funds and overnight bank funding based rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.50%
ABL Agreement \| Revolving Credit Facility \| One-month LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.00%
ABL Agreement \| Revolving Credit Facility \| Alternate Base Rate \| Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.25%
ABL Agreement \| Revolving Credit Facility \| Alternate Base Rate \| Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.75%
ABL Agreement \| Revolving Credit Facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.25%
ABL Agreement \| Revolving Credit Facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.75%
ABL Agreement \| Revolving Credit Facility \| The first full fiscal quarter ending after closing \| LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.50%
ABL Agreement \| Revolving Credit Facility \| The first full fiscal quarter ending after closing \| Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.50%
Debt Agreements
Debt Instrument [Line Items]
Percentage of capital stock of foreign subsidiaries pledged as collateral		65.00%
Minimum availability under revolving credit to maintain minimum fixed charge ratio for four consecutive months		$ 15,000
Commitment Fee Percentage		10.00%
Number of days company required to maintain minimum fixed charge coverage ratio		0
Fixed charge coverage ratio minimum		110.00%
Credit facility terms		The Debt Agreements provide for customary restrictions and events of default. Restrictions include limitations on additional indebtedness, acquisitions, investments and payment of dividends, among other things. Further, the ABL Agreement provides that during any period (a) commencing on the last day of the most recently ended four consecutive fiscal quarters on or prior to the date availability under the ABL Agreement is less than the greater of $15.0 million and 10% of the aggregate commitment under the ABL Agreement at any time and (b) ending on the day after such availability has exceeded the greater of $15.0 million and 10% of the aggregate commitment under the ABL Agreement for forty-five (45) consecutive days, the Company is required to maintain a minimum fixed charge coverage ratio of 1.10 to 1.00 as of the last day of any period of four consecutive fiscal quarters.

Derivatives - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Designated as Hedging Instrument \| Cash Flow Hedging \| Interest Rate Contract
Derivative [Line Items]
Notional amount	$ 5.3
Not Designated as Hedging Instrument \| Foreign exchange contract
Derivative [Line Items]
Notional amount	$ 28.3	$ 34.9

Fair Values of Derivative Financial Instruments Included in Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Not Designated as Hedging Instrument \| Foreign exchange contract \| Fair Value, Observable inputs, Level 2 \| Accrued expenses
Derivatives, Fair Value [Line Items]
Fair Value of Derivative Assets	$ 2,428	$ 1,951

Gains and Losses Related to Derivative Financial Instruments Not Designated as Hedging Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Not Designated as Hedging Instrument \| Foreign exchange contract \| Selling, General and Administrative Expenses
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in Income on Derivative	$ (1,515)	$ (189)

Summary of Stock Option (Detail) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018 USD ($) $ / shares shares
Options
Beginning balance \| shares	1,456,200
Grants \| shares	150,000
Cancellations \| shares	(6,625)
Expirations \| shares	(3,750)
Ending balance \| shares	1,595,825
Options exercisable at End of Period \| shares	1,246,923
Weighted-average exercise price
Beginning balance \| $ / shares	$ 13.64
Grants \| $ / shares	13.75
Cancellations \| $ / shares	18.23
Expirations \| $ / shares	15.41
Ending balance \| $ / shares	13.63
Options exercisable at End of Period \| $ / shares	$ 13.04
Weighted-average remaining contractual life (years)
Options outstanding, Ending balance	4 years 9 months 18 days
Options exercisable, Ending balance	3 years 9 months 18 days
Aggregate intrinsic value
Options outstanding, end of period \| $	$ 1,393
Options exercisable, end of period \| $	$ 1,393

Stock Compensation - Additional Information (Detail) - USD ($)

3 Months Ended

Mar. 31, 2018

Mar. 31, 2017

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Unrecognized stock option compensation cost

$ 1,400,000

Stock compensation expense

838,000

$ 804,000

Stock compensation expense, stock option

200,000

400,000

Stock compensation expense, Performance based and restricted share

$ 600,000

$ 400,000

Stock Options

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Weighted-average recognition period

2 years 6 months

Restricted Stock

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Weighted-average recognition period

2 years 7 months 6 days

Total fair value of performance-based awards, vested

$ 0

Performance Shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Weighted-average recognition period

^[1]

1 year 6 months

Total fair value of performance-based awards, vested

$ 792,000

Number of shares range percentage

150.00%

Performance Shares | Amended and Restated Long Term Incentive Plan Two Thousand

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Shares available for grant

374,558

[1]	Represents the target number of shares to be issued for each performance-based award.

Summary of Restricted Stock Activity (Detail) - Restricted Stock $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018 USD ($) $ / shares shares
Number of shares
Beginning balance \| shares	219,317
Grants \| shares	75,944
Cancellations \| shares	(5,375)
Ending balance \| shares	289,886
Total unrecognized compensation expense remaining \| $	$ 3,486
Weighted-average years expected to be recognized over	2 years 7 months 6 days
Weighted-average exercise price
Beginning balance \| $ / shares	$ 17.12
Grants \| $ / shares	13.65
Cancellations \| $ / shares	16.82
Ending balance \| $ / shares	$ 16.22

Summary of Performance-based Award Activity (Detail) - Performance Shares
$ / shares in Units, $ in Thousands

3 Months Ended

Mar. 31, 2018

USD ($)

$ / shares

Number of shares

Beginning balance | shares

228,892

^[1]

Cancellations | shares

(7,293)

^[1]

Vested | shares

(58,888)

^[1]

Ending balance | shares

162,711

^[1]

Total unrecognized compensation expense remaining | $

$ 1,419

^[1]

Weighted-average years expected to be recognized over

1 year 6 months

^[1]

Weighted-average grant date fair value

Beginning balance | $ / shares

$ 16.49

Cancellations | $ / shares

15.90

Vested | $ / shares

14.84

Ending balance | $ / shares

$ 17.11

[1]	Represents the target number of shares to be issued for each performance-based award.

Calculations of Basic and Diluted Loss per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share Disclosure [Line Items]
Net loss - basic and diluted	$ (11,598)	$ (1,331)
Weighted-average shares outstanding - basic and diluted	16,601	14,396
Basic and diluted loss per common share	$ (0.70)	$ (0.09)

Loss Per Common Share - Additional Information (Detail) - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Stock Options
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Antidilutive securities excluded from computation of diluted loss per common share	1,885,711	2,003,162

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Income Tax Examination [Line Items]
Corporate income tax rate	21.00%		35.00%
Provisional income tax expense			$ 3,300
Income tax benefit	$ 3,810	$ 944
Gross liability for tax positions	3,700
Change in unrecognized tax benefits reasonably possible	$ 2,800
Income tax examination years description	The Company is no longer subject to U.S. Federal income tax examinations for the years prior to 2014.
Interest and Penalties
Income Tax Examination [Line Items]
Gross liability for tax positions	$ 1,000
State Jurisdiction \| Minimum
Income Tax Examination [Line Items]
Income tax examination year	2013
State Jurisdiction \| Maximum
Income Tax Examination [Line Items]
Income tax examination year	2017
Domestic
Income Tax Examination [Line Items]
Effective income tax rate	24.60%	33.50%
Foreign
Income Tax Examination [Line Items]
Effective income tax rate, change in enacted rate	0.00%	0.00%

Business Segments - Additional Information (Detail)	3 Months Ended
Business Segments - Additional Information (Detail)	Mar. 31, 2018 Segment
Segment Reporting Information [Line Items]
Number of reportable business segment	3

Segment Reporting Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Segment Reporting Information [Line Items]
Net sales	$ 118,169	$ 113,356
Depreciation and amortization	4,309	3,286
Income (loss) from operations	(13,316)	(1,874)
Assets	726,915		$ 401,521
Unallocated corporate expenses
Segment Reporting Information [Line Items]
Income (loss) from operations	(4,556)	(3,068)
Assets	20,793		13,526
U. S. Wholesale
Segment Reporting Information [Line Items]
Net sales	90,795	87,392
Depreciation and amortization	3,091	2,302
U. S. Wholesale \| Operating Segments
Segment Reporting Information [Line Items]
Income (loss) from operations	(5,528)	2,235
Assets	597,784		281,398
International
Segment Reporting Information [Line Items]
Net sales	21,846	21,228
Depreciation and amortization	1,162	951
International \| Operating Segments
Segment Reporting Information [Line Items]
Income (loss) from operations	(3,220)	(1,157)
Assets	107,726		105,984
Retail Direct
Segment Reporting Information [Line Items]
Net sales	5,528	4,736
Depreciation and amortization	56	33
Retail Direct \| Operating Segments
Segment Reporting Information [Line Items]
Income (loss) from operations	(12)	$ 116
Assets	$ 612		$ 613

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

Other - Additional Information (Detail) - USD ($)			3 Months Ended
Other - Additional Information (Detail) - USD ($)	Mar. 08, 2018	Feb. 15, 2018	Mar. 31, 2018	Mar. 31, 2017
Other [Line Items]
Quarterly dividend declared			$ 0.0425	$ 0.0425
Cash dividend paid			$ 652,000	$ 613,000
Dividend Declared
Other [Line Items]
Dividend declaration date	Mar. 08, 2018
Quarterly dividend declared	$ 0.0425
Dividend payable date	Mar. 15, 2018
Dividend declared, date of record	May 01, 2018
Dividend payable			$ 900,000
Dividend Paid
Other [Line Items]
Dividend declared, date of record		Feb. 01, 2018
Cash dividend paid		$ 624,000

Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Supplemental disclosure of cash flow information:
Cash paid for interest	$ 746	$ 787
Cash paid for taxes	70	537
Non-cash investing activities:
Translation gain adjustment	$ 3,380	$ 1,976

Components of Accumulated Other Comprehensive Loss, Net (Detail) - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2018

Mar. 31, 2017

Accumulated Other Comprehensive Income (Loss) [Line Items]

Balance at beginning of period

$ 210,279

Balance at end of period

277,741

Accumulated Translation Adjustment:

Accumulated Other Comprehensive Income (Loss) [Line Items]

Balance at beginning of period

(27,821)

$ (35,644)

Other Comprehensive Income (Loss), before Reclassifications, Net of Tax

3,380

1,976

Balance at end of period

(24,441)

(33,668)

Accumulated Deferred Gains (Losses) on Cash Flow Hedges:

Accumulated Other Comprehensive Income (Loss) [Line Items]

Balance at beginning of period

(3)

Amounts reclassified from accumulated other comprehensive loss

^[1]

(14)

Other Comprehensive Income (Loss), before Reclassifications, Net of Tax

Balance at end of period

Accumulated Effect of Retirement Benefit Obligations:

Accumulated Other Comprehensive Income (Loss) [Line Items]

Balance at beginning of period

(1,518)

(1,352)

Amounts reclassified from accumulated other comprehensive loss

^[2]

Balance at end of period

$ (1,500)

$ (1,337)

[1]	Amount is recorded as interest expense on the condensed consolidated statement of operations.
[2]	Amounts are recorded in selling, general and administrative expense on the condensed consolidated statements of operations.

Components of Accumulated Other Comprehensive Loss, Net (Parenthetical) (Detail) - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2018

Mar. 31, 2017

Accumulated Deferred Gains (Losses) on Cash Flow Hedges:

Accumulated Other Comprehensive Income (Loss) [Line Items]

Derivative fair value adjustment, tax

$ 0

$ 9

Accumulated Effect of Retirement Benefit Obligations:

Accumulated Other Comprehensive Income (Loss) [Line Items]

Amortization of actuarial losses, taxes

^[1]

$ 12

$ 10

[1]	Amounts are recorded in selling, general and administrative expense on the condensed consolidated statements of operations.