Other Current Liabilities

12 Months Ended

Jan. 28, 2012

Other Current Liabilities [Abstract]

OTHER CURRENT LIABILITIES

4.  OTHER CURRENT LIABILITIES

Other current liabilities consisted of the following:

	January 28, 2012		January 29, 2011
	(In thousands)
Derivative liability	$	20,076	$	—
Accrued gift cards		10,776		12,046
Accrued compensation and benefits		10,687		10,036
Sales taxes payable		3,983		4,120
Deferred tax liability		2,201		2,147
Accrued capital expenditures		1,281		1,298
Other		19,365		12,539
Total other current liabilities	$	68,369	$	42,186

As disclosed in Note 8, the Company issued the Series B Preferred in connection with a new senior secured term loan. The fair value of the Series B Preferred at issuance was approximately $15 million as of December 7, 2011, which was recorded as a derivative liability. As of January 28, 2012, the fair value of the derivative liability was approximately $20 million.