XML 16 R12.htm IDEA: XBRL DOCUMENT

SALE-LEASEBACK TRANSACTIONS

6 Months Ended

Jul. 30, 2011

NOTE 8—SALE-LEASEBACK TRANSACTIONS

The Company did not execute any sale-leaseback transactions during the twenty-six weeks ended July 30, 2011. During the twenty-six weeks ended July 31, 2010, the Company sold one property to an unrelated third party for net proceeds of $1.6 million. Concurrent with this sale, the Company entered into an agreement to lease the property back from the purchaser over a minimum lease term of 15 years. The Company classified this lease as an operating lease. The Company actively uses this property and considers the lease as a normal leaseback. The Company recorded a deferred gain of $0.4 million.

The Company operated 725 store locations at July 30, 2011, of which 232 were owned and 493 were leased.

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

+ References+ Details