Impairment Charges

12 Months Ended

Feb. 01, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

6. Impairment Charges

Impairment charges recorded during Fiscal 2019, Fiscal 2018 and Fiscal 2017 amounted to $4.3 million, $6.8 million and $2.1 million, respectively, and are primarily related to declines in revenues and operating results of the respective stores. Additionally, during Fiscal 2018 and Fiscal 2017, a portion of the impairment related to a decline in the appraised fair value of one of the Company’s owned stores. Impairment charges during these periods related to the following:

	(in thousands)
	Fiscal Years Ended
Asset Categories	February 1, 2020		February 2, 2019		February 3, 2018 (53 Weeks)
Land	$	1,604	$	1,551	$	247
Operating lease assets		921		—		—
Buildings		921		1,262		227
Store fixtures and equipment		809		878		308
Leasehold improvements		52		195		306
Favorable leases		—		2,894		836
Other assets		8		64		203
Total	$	4,315	$	6,844	$	2,127

The Company recorded impairment charges related to store-level assets for two stores, as well as the online store, during Fiscal 2019, eight stores during Fiscal 2018 and four stores during Fiscal 2017.

Long-lived assets are measured at fair value on a non-recurring basis for purposes of calculating impairment using the fair value hierarchy of ASC Topic No. 820 “Fair Value Measurements” (Topic No. 820). Refer to Note 16, “Fair Value of Financial Instruments,” for further discussion of the Company’s fair value hierarchy. The fair value of the Company’s long-lived assets is calculated using a discounted cash-flow model that used level 3 inputs. In calculating future cash flows, the Company makes estimates regarding future operating results based on its experience and knowledge of market factors in which the retail location is located. The table below sets forth, by level within the fair value hierarchy, the remaining fair value of the two impaired stores as of February 1, 2020:

	(in thousands)
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Un- Observable Inputs (Level 3)			Total
Land	$	—	$	—	$	1,450		$	1,450
Operating lease assets		—		—		132			132
Operating lease liabilities		—		—		(125	)		(125	)
Buildings		—		—		833			833
Store fixtures and equipment		—		—		148			148
Leasehold improvements		—		—		4			4
Other assets		—		—		7			7
Total	$	—	$	—	$	2,449		$	2,449