Asset Impairment (Tables)

6 Months Ended

Aug. 01, 2020

e thirteen and twenty-six weeks ended August 1, 2020 and August 3, 2019 were as follows:



	Thirteen Weeks Ended				Twenty-six Weeks Ended
(in thousands)	August 1, 2020		August 3, 2019		August 1, 2020		August 3, 2019
Operating lease right-of-use asset impairment ⁽¹⁾	$	5,410	$	3,589	$	40,418	$	3,589
Property and equipment asset impairment	2,673		355		10,593		2,017
Total asset impairment	$	8,083	$	3,944	$	51,011	$	5,606


⁽¹⁾	Includes $3.2 million of operating lease right-of-use asset impairment related to flagship store exit charges for each of the thirteen and twenty-six weeks ended August 3, 2019. Refer to Note 17, “FLAGSHIP STORE EXIT (BENEFITS) CHARGES.”

Asset impairment charges for the thirteen weeks and twenty-six weeks ended August 1, 2020 were principally the result of the impact of COVID-19 and were related to certain of the Company’s stores across brands, geographies and store formats. The impairment charges for the twenty-six weeks ended August 1, 2020 reduced the then carrying amount of the impaired stores’ assets to their fair value of approximately $135.5 million, including $124.6 million related to operating lease right-of-use assets.

Asset impairment charges for the thirteen weeks and twenty-six weeks ended August 3, 2019, primarily related to the Company’s SoHo, New York City Hollister flagship. The impairment charges for the twenty-six weeks ended August 3, 2019 reduced the then carrying amount of the impaired stores’ assets to their fair value of approximately $8.2 million, including $7.0 million related to operating lease right-of-use assets.