Impairment of Assets

3 Months Ended

May 02, 2020

Impairment of Assets

Impairment of Assets

6.  Impairment of Assets

If facts and circumstances indicate that a long-lived asset or operating lease right-of-use asset may be impaired, the carrying value is reviewed. If this review indicates that the carrying value of the asset will not be recovered as determined based on projected undiscounted cash flows related to the asset over its remaining life, the carrying value of the asset is reduced to its estimated fair value.  In the thirteen weeks ended May 2, 2020, non-cash impairment expense related to an underperforming store totaled $0.3 million, comprised of $0.2 million for an operating lease right-of-use asset and $0.1 million for leasehold improvements and fixtures and equipment.  There was no impairment expense recorded in the thirteen weeks ended May 4, 2019.