PROPERTY AND EQUIPMENT

12 Months Ended

Jan. 30, 2021

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT, NET

Property and equipment consist of the following:

	January 30, 2021		February 1, 2020
	(in thousands)
Property and equipment:
Land and land improvements	$	3,403	$	3,403
Building and improvements	36,133		35,568
Material handling equipment	58,034		53,540
Leasehold improvements	216,989		285,955
Store fixtures and equipment	226,404		272,158
Capitalized software	296,967		265,610
Construction in progress	15,211		33,240
	853,141		949,474
Less accumulated depreciation and amortization	(671,340)		(712,576)
Property and equipment, net	$	181,801	$	236,898

During Fiscal 2020, the Company performed impairment testing on 749 stores with a total net book value of $43.6 million. During Fiscal 2020, the Company recorded asset impairment charges of $38.5 million, inclusive of ROU assets, related primarily to the impairment of 419 stores. These charges were related to underperforming stores identified in our ongoing store portfolio evaluation primarily as a result of decreased net revenues and cash flow projections resulting from the COVID-19 pandemic.

During Fiscal 2019, the Company performed impairment testing on 924 stores with a total net book value of $65.0 million. During Fiscal 2019, the Company recorded $6.0 million of impairment charges of which $3.2 million related to the impairment of 29 stores, and $2.8 million related to the write-down of information technology systems.

During Fiscal 2018, the Company performed impairment testing on 972 stores with a total net book value of $81.4 million. During Fiscal 2018, the Company recorded $6.1 million of impairment charges of which $1.7 million related to the impairment of 11 stores, and $4.4 million related to the write-down of information technology systems.