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Retirement Benefits
6 Months Ended
Jul. 28, 2012
Supplemental Executive Retirement Plan [Abstract]  
SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

16. SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

 

Effective February 2, 2003, the Company established a Chief Executive Officer Supplemental Executive Retirement Plan (the “SERP”) to provide additional retirement income to its Chairman and Chief Executive Officer (“CEO”). Subject to service requirements, the CEO will receive a monthly benefit equal to 50% of his final average compensation (as defined in the SERP) for life. The final average compensation used for the calculation is based on actual compensation, base salary and cash incentive compensation, averaged over the last 36 consecutive full calendar months ending before the CEO's retirement. The Company recorded expense of $0.5 million and $1.6 million for the thirteen and twenty-six weeks ended July 28, 2012, respectively, associated with the SERP. The Company recorded expense of $0.9 million and $1.5 million for the thirteen and twenty-six weeks ended July 30, 2011, respectively, associated with the SERP.