PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS

12 Months Ended

Feb. 01, 2014

Property, Plant and Equipment [Abstract]

PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS

NOTE 5 - PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS

The components of property, equipment and leasehold improvements were as follows (in thousands):

	February 1, 2014		February 2, 2013
Land	$	1,842	$	1,873
Buildings and improvements	15,511		17,786
Fixtures and equipment	457,335		421,547
Leasehold improvements	345,598		331,164
Property, equipment and leasehold improvements	820,286		772,370
Accumulated depreciation	537,752		481,669
Property, equipment and leasehold improvements, net	$	282,534	$	290,701

Depreciation expense was $61.9 million, $59.3 million and $61.2 million for 2013, 2012 and 2011, respectively.  During 2013, 2012 and 2011, the Company, as a result of its ongoing review of the performance of its stores, identified certain stores whose cash flow trends indicated that the carrying value of property, equipment and leasehold improvements may not be fully recoverable. Impairment charges for these stores of $0.7 million, $0.8 million and $0.5 million were recorded in 2013, 2012 and 2011, respectively.  The charges reflect the difference between these stores' carrying value and their fair value.  In addition, property and equipment impairment charges for Steele's, which was disposed of subsequent to February 1, 2014, totaled $7.3 million in 2013 and $0.2 million in impairment charges were recorded in 2012 related to the South Hill Consolidation.  Cost of sales includes $57.0 million, $49.3 million and $47.6 million in 2013, 2012 and 2011, respectively, related to depreciation expense and impairment charges. See Note 16 for additional disclosures on the Steele's divestiture.