Impairment Charges

12 Months Ended

Mar. 03, 2012

Impairment Charges

11. Impairment Charges

In the fourth quarter of 2012, 2011 and 2010, the Company recorded asset impairment charges from continuing operations of $974,000 for four identified under-performing stores, $1,228,000 for five identified under-performing stores and $6,771,000 for 21 identified under-performing stores, respectively. The asset impairment review encompassed all stores open for at least two years with negative contribution and cash flows as well as stores opened less than two years which had other events or changes in circumstances that indicated the store’s assets may not be recoverable. The asset impairment charge for the underperforming stores was calculated as the difference between the carrying amount of the impaired assets and each impaired store’s estimated future discounted cash flows.