Pep Boys 2007 Annual Report Download - page 102

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THE PEP BOYS—MANNY, MOE & JACK AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Years ended February 2, 2008, February 3, 2007 and January 28, 2006
(dollar amounts in thousands, except share data)
The store closure costs are reflected in fiscal 2007 Statement of Operations as follows:
Cost of Cost of Selling, Discontinued
Merchandise Service General and Operations
Sales Revenue Administrative (pre-tax) Total
Impairment of fixed assets ............. $5,350 $1,849 $ — $3,764 $10,963
Long-term lease obligations, net of sub-
lease ........................... 1,479 493 — 934 2,906
Workforce reduction ................. — — 111 44 155
Store breakdown cost ................ — — 1,102 425 1,527
Total ............................ $6,829 $2,342 $1,213 $5,167 $15,551
Earlier during fiscal 2007, the Company closed 2 stores in addition to the 31 low-return stores.
During fiscal 2006, the Company recorded an $840 asset impairment charge principally related to
one store location.
In the fourth quarter of fiscal 2005, the Company recorded in selling, general and administrative
expenses an impairment charge of $4,200 reflecting the remaining value of a commercial sales software
asset.
56
10-K