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Inventories

12 Months Ended

Jan. 28, 2012

Note 2. Inventories

The components of inventories are summarized as follows (in thousands):

	January 28, 2012			January 29, 2011

Finished goods	$	143,482		$	122,159
Work in process		6,244			5,744
Fabric, trim and supplies		6,070			3,389
LIFO reserve		(52,376	)		(45,954	)

Total inventory	$	103,420		$	85,338

There were no LIFO inventory liquidations in fiscal 2011 or fiscal 2010. During fiscal 2009, inventories valued on the LIFO basis declined, which resulted in a liquidation of LIFO inventory carried at the lower costs prevailing in prior years resulting in a $3.5 million decrease to cost of goods sold as compared to the cost of current year purchases. LIFO accounting charges, which we consider to include changes in the LIFO reserve as well as the impact of changes in inventory reserves related to lower of cost or market adjustments that do not exceed the LIFO reserve, were approximately $5.8 million, $3.8 million and $4.9 million in fiscal 2011, fiscal 2010 and fiscal 2009, respectively.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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