Sale of Proprietary Credit Card Receivables Programs	12 Months Ended
Jan. 28, 2012
Sale of Proprietary Credit Card Receivables Programs [Abstract]
Sale of Proprietary Credit Card Receivables Programs [Text Block]	SALE OF PROPRIETARY CREDIT CARD RECEIVABLES PROGRAMS In Fiscal 2009 we sold our proprietary credit card receivables programs to World Financial Network Bank (“WFNB”), a subsidiary of Alliance Data Systems Corporation (“Alliance Data”), and entered into ten-year operating agreements (the “operating agreements”) with Alliance Data for the provision of private-label credit card programs for our customers. We received net cash proceeds of $136,647,000 related to the transaction and recognized one-time net charges as a result of the sale of $14,237,000, primarily related to reimbursement to Alliance Data for system conversion costs related to assumption of the third-party transitional services, as well as legal and professional services, severance, and retention costs associated with the sale of the programs. Further information regarding our proprietary credit card receivables programs is included in “NOTE 14. ASSET SECURITIZATION” below. The transaction consisted of the sale of our proprietary credit card portfolio, along with certain other assets and liabilities that are required to support these card programs, including our consolidated balance sheet asset “Investment in asset-backed securities.” The components of the investment in asset-backed securities comprising the net sales proceeds were $51,250,000 of outstanding trust certificates owned by Charming Shoppes Receivables Corp. (“CSRC”), $60,922,000 of cash account balances in the Charming Shoppes Master Trust (the “Trust”) that had been funded by CSRC, an interest-only strip of $21,714,000, and other retained interests of $2,761,000. Gross proceeds from the transaction were $166,647,000. Approximately $22,000,000 of the gross proceeds were paid to a third-party administrative services provider for the programs to fund the early termination of a multi-year service contract and approximately $8,000,000 of the gross proceeds were paid to Alliance Data to reimburse them for transition services to be provided to them by the third-party service provider. In addition, on the sale date, we surrendered the charter of the Spirit of America National Bank (the “Bank”), our wholly-owned credit card bank, and merged the remaining assets and liabilities of the Bank into another non-banking subsidiary. We receive ongoing payments from Alliance Data under the operating agreements based on credit sales generated by our private-label credit card customers. These payments are recognized as a reduction of selling, general and administrative expenses, similar to revenues associated with our proprietary credit card receivables program prior to the sale. Alliance Data assumed the servicing obligations for the Trust effective as of the date of sale. Therefore, we have no further obligations with respect to financing our credit card programs. The operating agreements may be terminated early by either party for cause upon the occurrence of certain events as specified in the agreements including, but not limited to: unsatisfactory performance by WFNB under the terms of the agreements; substantial declines in private-label credit card sales volume or substantial closings of sales channels; and events of insolvency or other material defaults.

SALE OF PROPRIETARY CREDIT CARD RECEIVABLES PROGRAMS

In Fiscal 2009 we sold our proprietary credit card receivables programs to World Financial Network Bank (“WFNB”), a subsidiary of Alliance Data Systems Corporation (“Alliance Data”), and entered into ten-year operating agreements (the “operating agreements”) with Alliance Data for the provision of private-label credit card programs for our customers. We received net cash proceeds of $136,647,000 related to the transaction and recognized one-time net charges as a result of the sale of $14,237,000, primarily related to reimbursement to Alliance Data for system conversion costs related to assumption of the third-party transitional services, as well as legal and professional services, severance, and retention costs associated with the sale of the programs. Further information regarding our proprietary credit card receivables programs is included in “NOTE 14. ASSET SECURITIZATION” below.

The transaction consisted of the sale of our proprietary credit card portfolio, along with certain other assets and liabilities that are required to support these card programs, including our consolidated balance sheet asset “Investment in asset-backed securities.” The components of the investment in asset-backed securities comprising the net sales proceeds were $51,250,000 of outstanding trust certificates owned by Charming Shoppes Receivables Corp. (“CSRC”), $60,922,000 of cash account balances in the Charming Shoppes Master Trust (the “Trust”) that had been funded by CSRC, an interest-only strip of $21,714,000, and other retained interests of $2,761,000.

Gross proceeds from the transaction were $166,647,000. Approximately $22,000,000 of the gross proceeds were paid to a third-party administrative services provider for the programs to fund the early termination of a multi-year service contract and approximately $8,000,000 of the gross proceeds were paid to Alliance Data to reimburse them for transition services to be provided to them by the third-party service provider. In addition, on the sale date, we surrendered the charter of the Spirit of America National Bank (the “Bank”), our wholly-owned credit card bank, and merged the remaining assets and liabilities of the Bank into another non-banking subsidiary.

We receive ongoing payments from Alliance Data under the operating agreements based on credit sales generated by our private-label credit card customers. These payments are recognized as a reduction of selling, general and administrative expenses, similar to revenues associated with our proprietary credit card receivables program prior to the sale. Alliance Data assumed the servicing obligations for the Trust effective as of the date of sale. Therefore, we have no further obligations with respect to financing our credit card programs. The operating agreements may be terminated early by either party for cause upon the occurrence of certain events as specified in the agreements including, but not limited to: unsatisfactory performance by WFNB under the terms of the agreements; substantial declines in private-label credit card sales volume or substantial closings of sales channels; and events of insolvency or other material defaults.