NOTE 6 - PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Feb. 03, 2013

Property, Plant and Equipment Disclosure [Text Block]

NOTE 6 – PROPERTY, PLANT AND EQUIPMENT

	Depreciable Lives	February 3,		January 29,
	(In years)	2013		2012

Computer software and hardware	3 - 10	$	22,203	$	26,347
Buildings and land improvements	15 - 30		23,680		24,501
Machinery and equipment	10		3,663		3,708
Leasehold improvements	5		2,801		777
Furniture and fixtures	3 - 8		1,989		1,653
Other	5		600		763
Total depreciable property at cost			54,936		57,749
Less accumulated depreciation			34,559		41,117
Total depreciable property, net			20,377		16,632
Land			1,152		1,357
Construction-in-progress			1,300		3,680
Property, plant and equipment, net		$	22,829	$	21,669

Leasehold improvements increased $2.0 million to $2.8 million at February 3, 2013, primarily due to the capitalization of improvements to our new High Point, NC showroom during the fiscal 2013 first quarter.

The buildings and land improvements, machinery and equipment and land fixed asset categories decreased at February 3, 2013, primarily due to the sale of our former Cherryville, NC upholstery manufacturing facility during the fiscal 2013 second quarter.

The $1.3 million in construction-in-process at February 3, 2013 is made up primarily of expenses to support our continued ERP conversion efforts and technological upgrades in our import and upholstery operations. In connection with the implementation of our new ERP system, we disposed of approximately $6 million of computer software which will no longer be used. Most of this software was fully depreciated; therefore, we also wrote off a corresponding amount of accumulated depreciation and amortization, resulting in a loss of $78,000 recorded in the selling and administrative line of our consolidated statements of income for the fiscal year ended February 3, 2013.

No significant property, plant or equipment was held outside of the United States at either February 3, 2013 or January 29, 2012.

Capitalized Software Costs

Certain costs incurred in connection with developing or obtaining computer software for internal use are capitalized. These costs are amortized over periods of ten years or less. Capitalized software is reported as a component of computer software and hardware above and on the property, plant, and equipment line of our consolidated balance sheets. The activity in capitalized software costs was:

	Fifty-Three Weeks Ended			Fifty-Two Weeks Ended
	February 3,			January 29,			January 30,
	2013			2012			2011
Balance beginning of year	$	618		$	1,519		$	2,493
Purchases		2,814			11			63
Amortization expense		(533	)		(912	)		(1,037	)
Disposals		(69	)		-			-
Balance end of year	$	2,830		$	618		$	1,519

- 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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