EXIT AND DISPOSAL ACTIVITY

12 Months Ended

Feb. 01, 2014

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups Including Discontinued Operations Disclosure [Text Block]

NOTE 12 – EXIT AND DISPOSAL ACTIVITY

Lease Termination

For store closures where a lease obligation exists, we record the estimated future liability associated with the rental obligation on the cease use date (when the stores were closed). The lease obligations are established at the cease use date for the present value of any remaining operating lease obligations, net of estimated sublease income, and at the communication date for severance and other exit costs, as prescribed by FASB ASC 420, “Exit or Disposal Cost Obligations”. Key assumptions in calculating the liability include the timeframe expected to terminate lease agreements, estimates related to the sublease potential of closed locations, and estimates of other related exit costs. If actual timing and potential termination costs or realization of sublease income differ from our estimates, the resulting liabilities could vary from recorded amounts. These liabilities are reviewed periodically and adjusted when necessary.

During fiscal 2013, we utilized $0.1 million of the remaining lease liability for the fiscal 2008 store closures, leaving $0.1 million in the reserve at February 1, 2014.

The following table illustrates the exit and disposal activity related to the store closures discussed in the previous paragraphs (in millions):

(in millions)	Beginning Balance February 2, 2013	Additions FY13	Utilized FY13	Ending Balance February 1, 2014
Lease contract termination liability	0.2	-	(0.1)	0.1