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OTHER COMMENTS | 3 Months Ended
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May 06, 2018
Other Comments [Abstract] |
OTHER COMMENTS | OTHER COMMENTS Wuxi Jinmao Foreign Trade Co., Ltd. (“Wuxi”), one of the Company’s finished goods inventory suppliers, has a wholly owned subsidiary with which the Company entered into a loan agreement in 2016. Under the agreement, Wuxi’s subsidiary borrowed a principal amount of $13.8 million for the development and operation of a fabric mill. Principal payments are due in semi-annual installments beginning March 31, 2018 through September 30, 2026. The outstanding principal balance of the loan bears interest at a rate of (i) 4.50% per annum until the sixth anniversary of the closing date of the loan and (ii) LIBOR plus 4.00% thereafter. The Company received a principal payment of $0.1 million from Wuxi during the thirteen weeks ended May 6, 2018. The outstanding balance, including accrued interest, was $13.7 million, $14.0 million and $13.9 million as of May 6, 2018, February 4, 2018, and April 30, 2017, respectively, and was included in other assets in the Company’s Consolidated Balance Sheets.

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