Property and Equipment

12 Months Ended

Feb. 02, 2013

Property, Plant and Equipment [Abstract]

Property and equipment consisted of (in thousands):



	February 2, 2013			January 28, 2012			Estimated Useful Lives (In Years)
Buildings and improvements	$	22,213		$	27,040		Lesser of useful life or lease term
Furniture and fixtures	24,704			22,460			5-7
Machinery and equipment	5,996			4,561			3-7
	52,913			54,061
Less:
Accumulated depreciation	(32,853		)	(29,568		)
	$	20,060		$	24,493

Depreciation and amortization expense on property and equipment for fiscal 2012 and fiscal 2011 was $7.6 million and $7.2 million, respectively which included depreciation expense relating to building and equipment under capital leases of $0.5 million for both fiscal 2012 and 2011. Accumulated depreciation for building and equipment under capital leases was $0.2 million as of February 2, 2013 and $1.5 million at January 28, 2012. Net assets under capital leases were $0.2 million and $2.7 million at February 2, 2013 and January 28, 2012, respectively.

During fiscal 2012 and 2011, the Company recorded noncash impairment charges of approximately $2.8 million and $0.3 million, respectively, to reduce the net carrying value of certain retail store assets (primarily leasehold improvements) to their estimated fair value, which was determined based on discounted expected future cash flows. Lower than expected operating cash flow performance relative to the affected assets and the impact of the current economic environment on their projected future results of operations indicated that the carrying value of the related long-lived assets were not recoverable. The Company also recorded noncash impairment charges of $5.3 million and $0.8 million on a building under a capital lease during the fourth quarters of fiscal 2012 and 2011, respectively, due to changes in anticipated sublease revenue. These asset impairment charges are included in asset impairment in the accompanying consolidated statements of operations.

See Note 14 for further discussion of capital leases.

- 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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