Asset Impairment and Store Closing Charges

6 Months Ended

Aug. 03, 2013

Asset Impairment and Store Closing Charges

Asset Impairment and Store Closing Charges

Note 4.  Asset Impairment and Store Closing Charges

There were no asset impairment and store closing charges recorded during the three months ended August 3, 2013 and during the three and six months ended July 28, 2012.

During the six months ended August 3, 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.

Following is a summary of the activity in the reserve established for store closing charges for the six months ended August 3, 2013:

(in thousands)	Balance Beginning of Period		Adjustments and Charges*		Cash Payments		Balance End of Period
Rent, property taxes and utilities	$	251	$	101	$	224	$	128

* included in rentals

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