Discontinued Operations

6 Months Ended

Aug. 02, 2014

Discontinued Operations [Abstract]

Discontinued Operations, Disclosure [Text Block]

2.Discontinued Operations

In the first quarter of 2014, the Company made the decision to divest its Steele's stores, an off-price concept the Company had launched in November 2011, in order to focus all of its attention on its core department store business. On March 7, 2014, the Company completed the sale of the Steele's operations. Accordingly, the results of operations of Steele's are reflected in Loss from Discontinued Operations on the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) for all periods presented.

The following table summarizes the revenues and pre-tax loss of Steele's, which includes the loss on the sale of Steele's of $9.7 million, for each period presented (in thousands): 

	Three Months Ended				Six Months Ended
	August 2, 2014		August 3, 2013		August 2, 2014		August 3, 2013
Net sales	$	—	$	5,340	$	2,414	$	11,874
Pre-tax loss from discontinued operations	—		1,941		11,005		3,007

There were no assets or liabilities related to Steele’s included in the Condensed Consolidated Balance Sheet (unaudited) as of August 2, 2014. The carrying values of the major assets and liabilities related to Steele’s included in the Consolidated Balance Sheet as of February 1, 2014 were as follows (in thousands):

	February 1, 2014
Merchandise inventories, net	$	10,498
Property, equipment and leasehold improvements, net	732
Other assets	442
Liabilities	809