Leases

12 Months Ended

Jan. 30, 2016

Leases [Abstract]

Leases [Text Block]

Note 5. Leases

At January 30, 2016, the Company leased 298 stores under operating leases, many of which contain renewal options, for periods ranging from one to ten years. Most leases also provide for payment of operating expenses and real estate taxes. Some also provide for contingent rent based on percentage of sales over a certain sales volume. In addition, as more fully discussed in Note 9 in the Notes to Consolidated Financial Statements, the Company leases its Albany, NY distribution center and administrative offices under an operating lease from its Chairman and largest shareholder.

Net rental expense was as follows:

	Fiscal Year
	2015		2014		2013
	($ in thousands)
Minimum rentals	$	30,311	$	32,732	$	34,719
Contingent rentals		13		11		31
	$	30,324	$	32,743	$	34,750

Future minimum rental payments required under all leases that have initial or remaining non-cancelable lease terms at January 30, 2016 are as follows:

	Operating
($ in thousands)	Leases
2016		17,776
2017		10,785
2018		8,007
2019		4,908
2020		3,983
Thereafter		5,318
Total minimum payments required	$	50,777

In addition to the obligations in the table above, a number of the Company’s stores have leases which have rent payments based on the store’s sales volume in lieu of fixed minimum rent payments. During fiscal 2015, minimum rent payments based on a store’s sales volume were $0.9 million.