COMMITMENTS AND CONTINGENCIES

12 Months Ended

Jan. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES

Operating Lease Commitments

The Company leases all of its stores, offices and distribution facilities (except the Ft. Payne, Alabama distribution center which the Company owns), and certain office equipment, store fixtures and automobiles, under operating leases expiring through 2025. The leases require fixed minimum annual rental payments plus, under the terms of certain leases, additional payments for taxes, other expenses and additional rent based upon sales.

Store, office and distribution facilities minimum rent, contingent rent and sublease income are as follows (in thousands):

	Fiscal Year Ended
	January 31, 2015		February 1, 2014		February 2, 2013
Minimum rentals	164,510		168,112		166,022
Additional rent based upon sales	797		943		1,270
Sublease income	(2,967	)	(1,138	)	(369	)

9. COMMITMENTS AND CONTINGENCIES (Continued)

Future minimum annual lease payments under the Company's operating leases at January 31, 2015 were as follows (in thousands):

	Minimum Operating Lease Payments
2015	$	156,208
2016	143,318
2017	126,449
2018	108,901
2019	96,534
Thereafter	245,981
Total minimum lease payments	$	877,391

Purchase Commitments

As of January 31, 2015, the Company has entered into various purchase commitments for merchandise for re-sale of approximately $288.7 million and approximately $9.4 million for equipment, construction and other non-merchandise commitments.

Employment Agreements

The Company has an employment agreement with its President and Chief Executive Officer, which provides for severance of two times the sum of base salary plus bonus, and certain other payments and benefits following any termination without cause or for “good reason”. As of January 31, 2015, these cash severance benefits approximated $6.1 million. In the event of a change in control of the Company, certain executives will receive, in the aggregate, approximately $23.2 million of cash severance benefits should they either be terminated or voluntarily terminate their employment due to a degradation of duties as defined in their agreement.