Asset Impairment and Store Closing Charges

3 Months Ended

Apr. 30, 2011

Asset Impairment and Store Closing Charges

Asset Impairment and Store Closing Charges

Note 4.         Asset Impairment and Store Closing Charges

During the quarter ended April 30, 2011, the Company recorded a pretax charge of $1.2 million for asset impairment and store closing costs.  The charge was for the write-down of one property currently held for sale.

During the quarter ended May 1, 2010, the Company recorded a pretax charge of $2.2 million for asset impairment and store closing costs.  The charge was for the write-down of one property currently held for sale.

Following is a summary of the activity in the reserve established for store closing charges for the quarter ended April 30, 2011:

(in thousands)	Balance, Beginning of Period		Adjustments and Charges		Cash Payments		Balance, End of Period
Rentals, property taxes and utilities	$	1,360	$	265	$	416	$	1,209

Reserve amounts are included in trade accounts payable and accrued expenses and other liabilities.