Property, Equipment and Improvements, Net

Property, equipment and improvements, net consisted of the following (in thousands):



Description	May 5, 2018			February 3, 2018
Land	$	—		$	1,597
Corporate office, distribution center and related building improvements	—			12,753
Store leasehold improvements	48,777			50,094
Store furniture and fixtures	68,452			70,447
Corporate office and distribution center furniture, fixtures and equipment	4,917			5,053
Computer and point of sale hardware and software	33,088			33,126
Construction in progress	1,886			1,275
Total property, equipment and improvements, gross	157,120			174,345
Less accumulated depreciation and amortization	(116,818		)	(126,572		)
Total property, equipment and improvements, net	$	40,302		$	47,773

Long-lived assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. In conjunction with an impairment analysis, the Company determined that improvements and equipment at certain under-performing stores and at stores identified for closure were impaired. As a result, the Company recorded no long-lived asset impairment during the thirteen week period ended May 5, 2018 and approximately $0.1 million during the thirteen week period ended April 29, 2017.

Sale-Leaseback

On April 27, 2018, the Company completed the sale of and entered into an agreement to leaseback its corporate headquarters facility, including the distribution center, in Plymouth, MN. The agreement provided for the sale of the facility for a purchase price of $13.7 million and the subsequent leaseback of the facility for a 15-year period. The lease is classified as an operating lease. As a result, the Company recorded a deferred gain of $7.7 million. As of May 5, 2018, $7.2 million of the deferred gain is reflected in the Condensed Consolidated Balance Sheet under other non-current liabilities, with the remaining $0.5 million included as a component of accrued liabilities and other current liabilities. As part of the transaction, the Company has put $1.7 million in escrow for certain repairs on the building. This amount is considered to be restricted cash and is included within cash and cash equivalents on the Condensed Consolidated Balance Sheet.