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Asset Impairment and Store Closing Charges
 3 Months Ended
May 04, 2013
Asset Impairment and Store Closing Charges  
Asset Impairment and Store Closing Charges

Note 4.                           Asset Impairment and Store Closing Charges

 

During the quarter ended May 4, 2013, the Company recorded a pretax charge of $6.5 million for asset impairment and store closing costs.  The charge was for the write-down of an operating property and certain cost method investments.

 

There were no asset impairment and store closing charges recorded during the quarter ended April 28, 2012.

 

Following is a summary of the activity in the reserve established for store closing charges for the quarter ended May 4, 2013:

 

(in thousands)

 

Balance,
Beginning
of Period

 

Adjustments
and Charges*

 

Cash Payments

 

Balance,
End of Period

 

 

 

 

 

 

 

 

 

 

 

Rentals, property taxes and utilities

 

$

251

 

$

54

 

$

115

 

$

190

 

 

* included in rentals

 

Reserve amounts are included in trade accounts payable and accrued expenses and other liabilities.