| Recognized Identified Assets Acquired and Liabilities Assumed |
The purchase price consideration was allocated to assets acquired and liabilities assumed based on their respective fair values as follows: | | | | | | | Bonobos | | (in thousands) | | Purchase Price | | | Cash paid | $ | 28,300 | | | | | Allocation | | | Receivables, net | $ | 2,071 | | | Inventory | 51,293 | | | Right of use asset, net | 27,914 | | | Property and equipment, net | 2,858 | | | Other assets acquired | 5,827 | | | Assets acquired | $ | 89,963 | | | Short-term lease liability | (6,698) | | | Accounts payable | (9,479) | | | Deferred revenue | (9,077) | | | Long-term lease liability | (23,617) | | | Accrued expenses and other liabilities assumed | (12,792) | | | Liabilities assumed | $ | (61,663) | | | Net cash paid | $ | 28,300 | |
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| Pro Forma Information |
The following financial information presents the Company's consolidated results as if the acquisition had occurred on January 30, 2022: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Thirteen Weeks Ended | | Twenty-Six Weeks Ended | | | | | July 29, 2023 | | July 30, 2022 | | July 29, 2023 | | July 30, 2022 | | | | | (in thousands) | | Net sales | | | | $ | 450,238 | | | $ | 510,072 | | | $ | 887,621 | | | $ | 1,003,504 | | | Net (loss) income | | | | $ | (44,319) | | | $ | 4,204 | | | $ | (123,748) | | | $ | (11,943) | |
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