Property, Equipment and Leasehold Improvements

12 Months Ended

Jan. 28, 2012

Property Equipment And Leasehold Improvements [Abstract]

Property Plant And Equipment Disclosure [Text Block]

NOTE 4 - PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS

The components of property, equipment and leasehold improvements were as follows (in thousands):

	January 28, 2012		January 29, 2011
Land	$	1,859	$	1,722
Buildings and improvements		16,604		16,071
Fixtures and equipment		391,246		367,376
Leasehold improvements		316,709		302,995
Property, equipment and leasehold improvements		726,418		688,164
Accumulated depreciation		425,701		370,210
Property, equipment and leasehold improvements, net	$	300,717	$	317,954

Depreciation expense was $61.2 million, $58.3 million and $59.1 million for 2011, 2010 and 2009, respectively. During 2011, 2010 and 2009, the Company, as a result of its ongoing review of the performance of its stores, identified certain stores whose cash flow trends indicated that the carrying value of property, equipment and leasehold improvements may not be fully recoverable. Impairment charges for these stores of $0.5 million, $4.1 million and $4.3 million were recorded in 2011, 2010 and 2009, respectively. The charges reflect the difference between these stores’ carrying value and their fair value. Cost of sales includes $47.6 million, $49.5 million and $50.6 million in 2011, 2010 and 2009, respectively, related to depreciation expense and impairment charges.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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