PROPERTY AND EQUIPMENT

3 Months Ended

Apr. 28, 2012

Property, Plant and Equipment [Abstract]

Property and equipment consist of the following (in thousands):



	Asset Life	April 28, 2012			January 28, 2012			April 30, 2011
Property and equipment:
Land and land improvements	—	$	3,403		$	3,403		$	3,403
Building and improvements	20-25 yrs	35,548			35,548			34,370
Material handling equipment	10-15 yrs	52,772			52,770			50,689
Leasehold improvements	Lease life	414,165			403,080			405,613
Store fixtures and equipment	3-10 yrs	293,897			287,838			288,968
Capitalized software	5 yrs	80,621			78,623			73,251
Construction in progress	—	24,880			23,666			16,284
		905,286			884,928			872,578
Less accumulated depreciation and amortization		(576,228		)	(561,065		)	(545,561		)
Property and equipment, net		$	329,058		$	323,863		$	327,017

During the First Quarter 2012, the Company recorded a $1.3 million impairment charge related to one store whose lease we plan to terminate during the second quarter. During the First Quarter 2011, the Company recorded $0.4 million of impairment charges primarily related to two underperforming stores.

As of April 28, 2012, January 28, 2012 and April 30, 2011, the Company had approximately $8.5 million, $6.1 million and $3.6 million, respectively, in property and equipment for which payment had not been made. These amounts are included in accounts payable and accrued expenses and other current liabilities.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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