PROPERTY AND EQUIPMENT, NET

3 Months Ended

May 04, 2024

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET

Property and equipment consisted of the following:

	May 4, 2024		February 3, 2024		April 29, 2023
	(in thousands)
Property and equipment:
Land and land improvements	$	3,403	$	3,403	$	3,403
Building and improvements	36,187		36,187		36,187
Material handling equipment	89,427		90,637		71,404
Leasehold improvements	161,922		162,898		179,949
Store fixtures and equipment	165,887		173,667		200,040
Capitalized software	335,523		333,953		343,132
Construction in progress	4,939		3,386		24,145
	797,288		804,131		858,260
Less accumulated depreciation and amortization	(680,509)		(679,381)		(711,945)
Property and equipment, net	$	116,779	$	124,750	$	146,315

At May 4, 2024 and April 29, 2023, the Company reviewed its store related long-lived assets for indicators of impairment, and performed a recoverability test if indicators were identified. Based on the results of the analyses performed, the Company recorded asset impairment charges in the First Quarter 2023 of $1.8 million, inclusive of right-of-use (“ROU”) assets. The Company did not record asset impairment charges in the First Quarter 2024.