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Disposition of Assets and Other Expense
9 Months Ended
Nov. 24, 2012
Other Income and Expenses [Abstract]  
Disposition of Assets and Other Expense

Note 13–Disposition of Assets and Other Expense

 

During the thirteen week period ending November 24, 2012, the Company sold its Miami, FL and Houston, TX locations, the proceeds of which exceeded the previous carrying values, and therefore were recognized as an increase to the net asset value of the Company.

 

Gain on disposition of assets for the nine week period ended October 29, 2011 was $1.5 million and was primarily from the sale and leaseback of the Tampa, FL location, partially offset by the impairment of assets for the lease expiration of the Park Avenue, NY location. The gain for the thirty-five week period ended October 29, 2011 of $7.6 million was primarily from the sale of the Syms store located in Rockville, MD and to a lesser degree the proceeds from a partial condemnation of property adjacent to the Marietta, GA store and sale of the North Randall, OH location.