Property and Equipment

12 Months Ended

Feb. 02, 2013

Property, Plant and Equipment [Abstract]

(5) Property and Equipment

Property and equipment is summarized as follows (in thousands):



	Feb 2, 2013		Jan 28, 2012
Land and land improvements	$	2,866	$	2,866
Building and building improvements	4,069		3,657
Leasehold improvements	410,943		382,098
Furniture, fixtures and equipment	374,432		330,517
Construction in progress	10,676		18,257
Properties under capital lease	23,188		22,474
	826,174		759,869
Less accumulated depreciation and amortization	470,445		410,984
	$	355,729	$	348,885

Construction in progress represents the costs associated with the construction in progress of leasehold improvements to be used in the Company’s operations, primarily for new and remodeled stores in retail operations. No interest costs were capitalized related to construction in progress during fiscal 2013, fiscal 2012 and fiscal 2011.

The accumulated depreciation and amortization related to the property under the capital lease was approximately $5.3 million and $4.4 million at February 2, 2013 and January 28, 2012, respectively, and is included in depreciation expense. See Notes 8 and 12 for information regarding the associated capital lease obligations.

Impairment

The Company recorded charges related to asset impairments of $10.1 million, $7.7 million and $5.3 million, respectively, for fiscal 2013, fiscal 2012 and fiscal 2011. These impairment charges related primarily to the impairment of long-lived assets for certain retail stores in North America and Europe and were included in SG&A expenses in the Company's consolidated income statements for each of the respective periods.

Impairments to long-lived assets are summarized as follows (in thousands):



	Feb 2, 2013		Jan 28, 2012
Aggregate carrying value of all long-lived assets impaired	$	10,438	$	7,899
Less: Impairment charges	10,143		7,692
Aggregate remaining fair value of all long-lived assets impaired	$	295	$	207

The Company's impairment evaluations during fiscal 2013 and fiscal 2012 included testing of 57 stores and 52 stores, respectively, of which 30 stores and 15 stores, respectively, were determined to be impaired, as the carrying amount of the store assets exceeded their estimated fair values (determined based on discounted cash flows) at each of the respective dates. Of the 27 remaining stores that were tested and not impaired during fiscal 2013, 10 stores could be considered at-risk of future impairment as of February 2, 2013. When making this determination, the Company considered the potential impact that reasonably possible changes to the sales and gross margin performance compared to the Company's current projections for these stores could have on their current estimated cash flows. Refer to Note 1 for a description of other assumptions that management considers in estimating the future discounted cash flows. If actual results are not consistent with the assumptions and judgments used in estimating future cash flows and asset fair values, there may be additional exposure to future impairment losses that could be material to the Company's results of operations.

- 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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