PROPERTY AND EQUIPMENT

6 Months Ended

Jul. 30, 2016

Property, Plant and Equipment [Abstract]

Property and equipment consist of the following (in thousands):



	Asset Life	July 30, 2016			January 30, 2016			August 1, 2015
Property and equipment:
Land and land improvements	—	$	3,403		$	3,403		$	3,403
Building and improvements	20-25 yrs	35,548			35,548			35,548
Material handling equipment	10-15 yrs	48,345			48,345			48,479
Leasehold improvements	3-15 yrs	326,292			317,410			336,327
Store fixtures and equipment	3-10 yrs	227,528			218,566			231,964
Capitalized software	3-10 yrs	181,957			177,849			128,051
Construction in progress	—	15,641			8,357			39,317
		838,714			809,478			823,089
Accumulated depreciation and amortization		(561,519		)	(518,498		)	(515,989		)
Property and equipment, net		$	277,195		$	290,980		$	307,100

At July 30, 2016, the Company performed impairment testing on 1,062 stores with a total net book value of approximately $106.5 million. During the Second Quarter 2016, the Company recorded asset impairment charges of $1.5 million for 12 stores, of which four were fully impaired and eight were partially impaired. At July 30, 2016, the aggregate net book value of the stores that were partially impaired was approximately $0.7 million, which the Company determined to be recoverable based on an estimate of discounted future cash flows.

The Company has established a strategic business transformation through technology plan and as part of this plan the Company concluded that certain development costs previously incurred were no longer relevant and deemed certain systems to be obsolete and needed to be replaced by enhanced capabilities in order to incorporate industry best practices. Accordingly, during the Second Quarter 2016 the Company recorded asset impairment charges of $1.3 million related to the write-down of some previously capitalized development costs and obsolete systems.

At August 1, 2015, the Company performed impairment testing on 1,049 stores with a total net book value of approximately $124.4 million. During the Second Quarter 2015, the Company recorded asset impairment charges of $1.5 million for 10 stores, of which two were fully impaired and eight were partially impaired.

As of July 30, 2016, January 30, 2016 and August 1, 2015, the Company had approximately $6.7 million, $6.1 million and $5.3 million, respectively, in property and equipment for which payment had not yet been made. These amounts are included in Accounts payable and Accrued expenses and other current liabilities.