Involuntary Conversion of Property and Equipment

12 Months Ended

Jan. 31, 2012

Property and Equipment and Involuntary Conversion of Property and Equipment [Abstract]

Involuntary Conversion of Property and Equipment

(16) Involuntary Conversion of Property and Equipment

In December, 2008, our Flagstaff, Arizona store sustained a roof collapse. The building’s contents were declared a total loss. We were adequately insured to enable us to recover the retail value of our merchandise inventory and replace all of our property and equipment that was destroyed. For fiscal 2009, we recorded a gain from this involuntary conversion of assets of approximately $1.4 million, which is included in Other Income on the Consolidated Statements of Operations. The insurance proceeds were reinvested in the store, which reopened in fiscal 2009.