PROPERTY AND EQUIPMENT

9 Months Ended

Oct. 29, 2011

NOTE 4: PROPERTY AND EQUIPMENT

Property and Equipment are carried at cost. Depreciation is recorded using the straight-line method over the estimated useful lives of the assets. Improvements to leased premises are amortized using the straight-line method over the shorter of the initial term of the lease or the useful life of the improvement. Leasehold improvements added late in the lease term are amortized over the shorter of the remaining term of the lease (including the upcoming renewal option, if the renewal is reasonably assured) or the useful life of the improvement. Assets under capital leases are amortized in accordance with the Company’s normal depreciation policy for owned assets or over the lease term (regardless of renewal options), if shorter, and the charge to earnings is included in depreciation expense in the consolidated financial statements. Gains or losses on the sale of assets are recorded as a component of operating income.

The following illustrates the breakdown of the major categories within Property and Equipment (in thousands):

	October 29, 2011			January 29, 2011
Property and equipment, at cost:

Buildings and building improvements	$	111,377		$	96,923
Leasehold improvements		69,641			62,504
Automobiles and vehicles		5,245			5,198
Airplane		4,697			4,697
Furniture, fixtures and equipment		246,934			234,710
		437,894			404,032
Less: Accumulated depreciation and amortization		(285,164	)		(271,129	)
		152,730			132,903
Construction in progress		263			198
Land		7,857			6,830
Total Property and equipment, at depreciated cost	$	160,850		$	139,931

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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