PROPERTY AND EQUIPMENT

3 Months Ended

May 02, 2015

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

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

	Asset Life	May 2, 2015			January 31, 2015			May 3, 2014
Property and equipment:
Land and land improvements	—	$	3,403		$	3,403		$	3,403
Building and improvements	20-25 yrs	35,548			35,548			35,548
Material handling equipment	10-15 yrs	48,479			48,479			48,479
Leasehold improvements	3-15 yrs	338,311			339,474			353,164
Store fixtures and equipment	3-10 yrs	232,304			231,797			236,177
Capitalized software	3-10 yrs	122,661			120,054			64,787
Construction in progress (1)	—	32,049			24,644			44,070
		812,755			803,399			785,628
Accumulated depreciation and amortization		(503,207		)	(493,098		)	(470,314		)
Property and equipment, net		$	309,548		$	310,301		$	315,314

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⁽¹⁾  The majority of the Construction in progress at each reporting period relates to the Company's new enterprise resource planning system and system transformation initiatives. 

At May 2, 2015, the Company performed impairment testing on 1,051 stores with a total net book value of approximately $130.0 million. At May 3, 2014, the Company performed impairment testing on 1,040 stores with a total net book value of approximately $146.8 million. During each of the First Quarter 2015 and First Quarter 2014, the Company did not incur any asset impairment charges.

As of May 2, 2015, January 31, 2015 and May 3, 2014, the Company had approximately $3.2 million, $6.6 million and $7.6 million, respectively, in property and equipment for which payment had not yet been made.  These amounts are included in accounts payable and accrued expenses and other current liabilities.