Impairment costs |
3 Months Ended |
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May 01, 2021 | |
| Impairment costs | |
| Impairment, restructuring and other costs |
4.Impairment costs As a result of the COVID-19 pandemic, the Company experienced lower than projected revenues and identified indicators of impairment for certain retail stores during the 13 weeks ended May 2, 2020. The Company’s analysis indicated that the carrying values of certain long-lived tangible and right-of-use assets exceeded their respective fair values. As a result, impairment costs of $19,542 related to certain retail stores were recognized during the 13 weeks ended May 2, 2020. These impairment costs were primarily driven by lower than projected revenues, lower market rate assessments, and the effect of temporary store closures as a result of the COVID-19 pandemic. There were no impairment costs recognized during the 13 weeks ended May 1, 2021. |
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- Definition The entire disclosure for the details of the charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Disclosure may also include a description of the impaired asset and facts and circumstances leading to the impairment, amount of the impairment loss and where the loss is located in the income statement, method(s) for determining fair value, and the segment in which the impaired asset is reported. No definition available.
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- References No definition available.
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