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Store Closing Costs

9 Months Ended

Sep. 30, 2012

(4) Store Closing Costs

The Company closed three underperforming stores in fiscal 2012, which will not be relocated. Two of those stores were closed in the second quarter of fiscal 2012 and the remaining store was closed in the third quarter of fiscal 2012. The store closing costs primarily included lease termination costs that expire in fiscal 2014. The following table summarizes the activity of the Company’s store closing reserves:


	Severance Costs			Lease Termination Costs			Other Associated Costs			Total
	(In thousands)
Balance at January 1, 2012	$	—		$	—		$	—		$	—
Store closing costs		21			1,032			121			1,174
Payments		(17	)		(152	)		(119	)		(288	)

Balance at September 30, 2012	$	4		$	880		$	2		$	886

The Company recorded $0.7 million of expense related to the closure of two of these underperforming stores in the second quarter of fiscal 2012, and recorded an additional $0.4 million of expense related to the closure of the third underperforming store in the third quarter of fiscal 2012. This expense is reflected as part of selling and administrative expense in the accompanying interim unaudited condensed consolidated statement of operations.

The current portion of accrued store closing costs is recorded in accrued expenses and the noncurrent portion is recorded in other long-term liabilities in the accompanying interim unaudited condensed consolidated balance sheet.

The Company expects to close an additional store in the fourth quarter of fiscal 2012. No costs associated with this store closing have been recognized during the 39 weeks ended September 30, 2012, and these costs are not expected to be material in the fourth quarter of fiscal 2012.

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

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