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Sale Leaseback Transactions
12 Months Ended
Jan. 30, 2016
Leases [Abstract]  
Sale Leaseback Transactions

(11) Sale Leaseback Transactions

During the fiscal year ended January 30, 2016, the Company completed a sale-leaseback of the land and buildings for two store locations. The Company received gross cash proceeds of $12,068, exclusive of transaction costs of approximately $277.  The carrying value of the properties sold were $11,964. The Company realized a loss on this transaction of $173, which has been recorded in selling, general, and administrative expenses in the accompanying statements of income. The current and long-term portions of the deferred loss are included in current portion of deferred rent and deferred rent, noncurrent, respectively, in the consolidated balance sheet as of January 20, 2016.  Amortization of the deferred loss is reflected as an increase to rent expense and is included within selling, general, and administrative expenses in the consolidated statement of income for the year ended January 30, 2016.

During the fiscal year ended January 30, 2016, the Company completed a deemed sale-leaseback of the land and buildings for three store locations. In each of the related lease agreements for these store locations, the Company was required to pay all construction costs directly with the right of reimbursement up to a pre-determined tenant allowance. Also, the Company indemnified the landlords with respect to costs arising from third-party damage arising from the acts or omission of employees, sub-lessees, assignees, agent, and/or contractors arising during construction. As a result, and, based on appropriate accounting guidance, the Company was deemed the owner of the land and building during the construction period. The deemed sale occurred when the construction of the assets were complete and the lease terms began. At the time of sale, any assets, up to the value of each pre-determined tenant allowance, were written off the Company’s books, and any remaining amounts were considered leasehold improvements.  The total value of tenant allowances received during fiscal year 2015 was $5,652.