NOTE 15 - COMMITMENTS, CONTINGENCIES AND OFF BALANCE SHEET ARRANGEMENTS

12 Months Ended

Feb. 01, 2015

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

NOTE 15 – COMMITMENTS, CONTINGENCIES AND OFF BALANCE SHEET ARRANGEMENTS

We lease warehousing facilities, showroom space and office equipment under leases expiring over the next five years.  Rent expense was $2.8 million in fiscal 2015, $2.3 million in fiscal 2014 and $2.0 million in fiscal 2013. Future minimum annual commitments under leases and operating agreements are $2.1 million in fiscal 2016, $1.7 million in fiscal 2017, $1.3 million in fiscal 2018, $1.3 million in fiscal 2019 and $1.2 million in fiscal 2020.

We had letters of credit outstanding totaling $1.5 million on February 1, 2015.  We utilize letters of credit to collateralize certain imported inventory purchases and certain insurance arrangements.

In the ordinary course of our business, we may become involved in legal proceedings involving contractual and employment relationships, product liability claims, intellectual property rights and a variety of other matters.  We do not believe that any pending legal proceedings will have a material impact on our financial position or results of operations.