OTHER LIABILITIES

12 Months Ended

Dec. 29, 2012

OTHER LIABILITIES

OTHER LIABILITIES

NOTE 9. OTHER LIABILITIES

         The Company's other liabilities are comprised of the following:

	December 29, 2012		December 31, 2011
Deferred rent	$	8,372,000	$	10,114,000
Deferred income—co-branded credit card program		405,000		1,373,000
	$	8,777,000	$	11,487,000

         In fiscal 2012, the Company recognized a net gain of $268,000 from the reversal of deferred rent partially offset by lease termination costs, which were substantially negotiated and paid in December 2012 for stores closed in fiscal 2013. In fiscal 2011, the Company recognized a net gain of $236,000 from the reversal of deferred rent partially offset by lease termination costs, which were substantially negotiated and paid in December 2011 for stores closed in fiscal 2012. These net gains are included in store operating expenses.