PROPERTY AND EQUIPMENT

9 Months Ended

Oct. 29, 2016

Property, Plant and Equipment [Abstract]

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



	Asset Life	October 29, 2016			January 30, 2016			October 31, 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			48,345
Leasehold improvements	3-15 yrs	325,329			317,410			333,602
Store fixtures and equipment	3-10 yrs	229,210			218,566			231,090
Capitalized software	3-10 yrs	199,380			177,849			170,364
Construction in progress	—	6,741			8,357			6,302
		847,956			809,478			828,654
Accumulated depreciation and amortization		(573,209		)	(518,498		)	(526,438		)
Property and equipment, net		$	274,747		$	290,980		$	302,216

At October 29, 2016, the Company performed impairment testing on 1,046 stores with a total net book value of approximately $95.8 million. During the Third Quarter 2016, the Company recorded asset impairment charges of $0.4 million for nine stores, all of which were partially impaired. During Year-To-Date 2016, the Company recorded asset impairment charges of $1.9 million for 21 stores, of which four stores were fully impaired and 17 stores were partially impaired. At October 29, 2016, the aggregate net book value of the stores that were partially impaired was approximately $1.5 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. As part of this plan the Company also deemed certain systems to be obsolete and in need of replacement by enhanced capabilities in order to incorporate industry best practices. Accordingly, during the second quarter of fiscal 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 October 31, 2015, the Company performed impairment testing on 1,059 stores with a total net book value of approximately $118.8 million. During the Third Quarter 2015, the Company recorded asset impairment charges of $0.9 million for 15 stores, of which nine were fully impaired and six were partially impaired. During Year-To-Date 2015, the Company recorded asset impairment charges of $2.4 million for 22 stores, of which 10 were fully impaired and 12 were partially impaired.

As of October 29, 2016, January 30, 2016 and October 31, 2015, the Company had approximately $8.1 million, $6.1 million and $4.3 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.