Hibbett (HIBB) 10-Q 8 Dec 14 2015 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	3 Months Ended
	Nov. 01, 2014	Dec. 04, 2014	Aug. 03, 2013
Document and Entity Information [Abstract]	'	'	'
Entity Registrant Name	'HIBBETT SPORTS INC	'	'
Entity Central Index Key	'0001017480	'	'
Current Fiscal Year End Date	'--01-31	'	'
Entity Well-known Seasoned Issuer	'Yes	'	'
Entity Voluntary Filers	'No	'	'
Entity Current Reporting Status	'Yes	'	'
Entity Filer Category	'Large Accelerated Filer	'	'
Entity Public Float	'	'	$1,578,943,516
Entity Common Stock, Shares Outstanding	'	25,000,692	'
Document Fiscal Year Focus	'2015	'	'
Document Fiscal Period Focus	'Q3	'	'
Document Type	'10-Q	'	'
Amendment Flag	'false	'	'
Document Period End Date	1-Nov-14	'	'

UNAUDITED_CONDENSED_CONSOLIDAT

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Nov. 01, 2014	Feb. 01, 2014
In Thousands, unless otherwise specified
Current Assets:	'	'
Cash and cash equivalents	$71,481	$66,227
Inventories, net	242,788	226,545
Other current assets	29,321	30,877
Total current assets	343,590	323,649
Property and equipment	212,097	211,204
Less accumulated depreciation and amortization	118,750	125,190
Property and equipment, net	93,347	86,014
Other assets, net	6,768	6,682
Total Assets	443,705	416,345
Current Liabilities:	'	'
Accounts payable	90,816	74,532
Accrued payroll expenses	9,540	8,464
Deferred rent	4,193	3,792
Short-term capital lease obligations	428	322
Other accrued expenses	5,975	4,304
Total current liabilities	110,952	91,414
Deferred rent	14,940	13,803
Other liabilities, net	7,462	7,105
Total liabilities	133,354	112,322
Stockholders' Investment:	'	'
Preferred stock, $.01 par value, 1,000,000 shares authorized, no shares issued	0	0
Common stock, $.01 par value, 80,000,000 shares authorized, 38,462,693 and 38,202,486 shares issued at November 1, 2014 and February 1, 2014, respectively	385	382
Paid-in capital	161,777	154,533
Retained earnings	546,129	492,471
Treasury stock, at cost; 13,461,826 and 12,389,531 shares repurchased at November 1, 2014 and February 1, 2014, respectively	-397,940	-343,363
Total stockholders' investment	310,351	304,023
Total Liabilities and Stockholders' Investment	$443,705	$416,345

UNAUDITED_CONDENSED_CONSOLIDAT1

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS Parenthetical (USD $)	Nov. 01, 2014	Feb. 01, 2014
Stockholders' Investment:	'	'
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized (in shares)	80,000,000	80,000,000
Common stock, shares issued (in shares)	38,462,693	38,202,486
Treasury stock, shares (in shares)	13,461,826	12,389,531

UNAUDITED_CONDENSED_CONSOLIDAT2

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Nov. 01, 2014	Nov. 02, 2013	Nov. 01, 2014	Nov. 02, 2013
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]	'	'	'	'
Net sales	$218,321	$207,971	$674,148	$634,198
Cost of goods sold, including wholesale, logistics and store occupancy costs	139,171	131,483	432,394	402,907
Gross profit	79,150	76,488	241,754	231,291
Store operating, selling and administrative expenses	48,202	45,496	143,778	134,251
Depreciation and amortization	4,136	3,549	11,777	10,193
Operating income	26,812	27,443	86,199	86,847
Interest expense, net	73	55	216	142
Income before provision for income taxes	26,739	27,388	85,983	86,705
Provision for income taxes	9,849	10,138	32,324	32,700
Net income	$16,890	$17,250	$53,659	$54,005
Earnings per share:	'	'	'	'
Basic (in dollars per share)	$0.67	$0.67	$2.10	$2.09
Diluted (in dollars per share)	$0.67	$0.66	$2.08	$2.05
Weighted average shares outstanding:	'	'	'	'
Basic (in dollars per share)	25,111	25,823	25,504	25,893
Diluted (in dollars per share)	25,336	26,282	25,758	26,309

UNAUDITED_CONDENSED_CONSOLIDAT3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Nov. 01, 2014	Nov. 02, 2013
Cash Flows From Operating Activities:	'	'
Net income	$53,659	$54,005
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation and amortization	11,777	10,193
Stock-based compensation	3,641	4,727
Other non-cash adjustments to net income	-1,097	-3,575
Increase in inventories, net	-16,243	-8,794
Decrease (increase) in prepaid expenses	1,969	-44
Increase (decrease) in accounts payable	16,284	-8,857
Changes in other operating assets and liabilities	5,268	1,879
Net cash provided by operating activities	75,258	49,534
Cash Flows From Investing Activities:	'	'
Capital expenditures	-18,955	-42,504
Other, net	191	-327
Net cash used in investing activities	-18,764	-42,831
Cash Flows From Financing Activities:	'	'
Cash used for stock repurchases	-49,908	-14,483
Payments on capital lease obligations	-273	-204
Proceeds from options exercised and purchase of shares under the employee stock purchase plan	700	1,502
Other, net	-1,759	-492
Net cash used in financing activities	-51,240	-13,677
Net increase (decrease) in cash and cash equivalents	5,254	-6,974
Cash and cash equivalents, beginning of period	66,227	76,911
Cash and cash equivalents, end of period	$71,481	$69,937

Basis_of_Presentation_and_Acco

Basis of Presentation and Accounting Policies	3 Months Ended
	Nov. 01, 2014
Basis of Presentation and Accounting Policies [Abstract]	'
Basis of Presentation and Accounting Policies	'
	1.            Basis of Presentation and Accounting Policies
	The accompanying unaudited condensed consolidated financial statements of Hibbett Sports, Inc. and its wholly-owned subsidiaries (including the condensed consolidated balance sheet as of February 1, 2014, which has been derived from audited financial statements) have been prepared in accordance with U.S. Generally Accepted Accounting Principles (U.S. GAAP) for interim financial information and are presented in accordance with the requirements of Form 10-Q and Article 10 of Regulation S-X.  Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements.  References to "we," "our," "us" and the "Company" refer to Hibbett Sports, Inc. and its subsidiaries as well as its predecessors.
	These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended February 1, 2014 filed on March 31, 2014.  In our opinion, the unaudited condensed consolidated financial statements included herein contain all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation of our financial position as of November 1, 2014 and the results of our operations and cash flows for the periods presented.
	There have been no material changes in our significant accounting policies as compared to the significant accounting policies described in our Annual Report on Form 10-K for the fiscal year ended February 1, 2014 filed on March 31, 2014.

Recent_Accounting_Pronouncemen

Recent Accounting Pronouncements	3 Months Ended
	Nov. 01, 2014
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]	'
Recent Accounting Pronouncements	'
	2.            Recent Accounting Pronouncements
	In May 2014, the Financial Accounting Standard Board, or FASB, issued Accounting Standard Update (ASU) 2014-09, Revenue from Contracts with Customers.  This ASU is a comprehensive new revenue recognition model that expands disclosure requirements and requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services.  This ASU is effective for annual and interim reporting periods beginning after December 15, 2016 and early adoption is not permitted.  Accordingly, we will adopt this ASU in the first quarter of Fiscal 2018.  We are currently evaluating the impact of the adoption of this pronouncement on our results of operations and cash flows; however, it is not expected to be material.

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	3 Months Ended
	Nov. 01, 2014
Fair Value of Financial Instruments [Abstract]	'
Fair Value of Financial Instruments	'
	3.            Fair Value of Financial Instruments
	Accounting Standards Codification (ASC) Subtopic 820, Fair Value Measurement, establishes a three-level fair value hierarchy that prioritizes the inputs used to measure fair value.  The three levels of inputs used to measure fair value are as follows:
	Level I – Quoted prices in active markets for identical assets or liabilities.
	Level II – Observable inputs other than quoted prices included in Level I.
	Level III – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
	The table below segregates all financial assets that are measured at fair value on a recurring basis (at least annually) into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value as of November 1, 2014 and February 1, 2014 (in thousands):
		1-Nov-14						1-Feb-14
		Level I		Level II		Level III		Level I		Level II		Level III
	Short-term investments	$	87	$	-	$	-	$	509	$	-	$	-
	Long-term investments		2,554		-		-		2,107		-		-
	Total investments	$	2,641	$	-	$	-	$	2,616	$	-	$	-
	Short-term investments are reported in other current assets on our unaudited condensed consolidated balance sheets.  Long-term investments are reported in other assets on our unaudited condensed consolidated balance sheets.

Debt

Debt	3 Months Ended
	Nov. 01, 2014
Debt Disclosure [Abstract]	'
Debt	'
	4.            Debt
	At November 1, 2014, we had two unsecured credit facilities, which are renewable annually in August and November.  The August facility allows for borrowings up to $30.0 million at a rate equal to the higher of prime rate, the federal funds rate plus 0.5% or LIBOR.  The November facility allows for borrowings up to $50.0 million at a rate of prime plus 2%.  Under the provisions of both facilities, we do not pay commitment fees and are not subject to covenant requirements.  We did not have any borrowings against either of these facilities during the thirteen and thirty-nine weeks ended November 1, 2014, nor was there any debt outstanding under either of these facilities at November 1, 2014.  At November 1, 2014, a total of $80.0 million was available to us from these facilities.
	At February 1, 2014, we had the same two unsecured facilities and corresponding terms as listed above.  We did not have any borrowings against either of these facilities during Fiscal 2014, nor was there any debt outstanding under either of these facilities at February 1, 2014.
	Subsequent to November 1, 2014, we renewed our existing November facility of $50.0 million with an interest rate of prime plus 2%. The renewal was effective November 18, 2014 and will expire on November 18, 2015.  The facility is unsecured and does not require a commitment or agency fee nor are there any covenant restrictions.

StockBased_Compensation

Stock-Based Compensation	3 Months Ended
	Nov. 01, 2014
Stock-Based Compensation [Abstract]	'
Stock-Based Compensation	'
	5.            Stock-Based Compensation
	The compensation costs that have been charged against income for the thirteen and thirty-nine weeks ended November 1, 2014 and November 2, 2013 were as follows (in thousands):
		Thirteen Weeks Ended				Thirty-Nine Weeks Ended
		1-Nov-14		2-Nov-13		1-Nov-14		2-Nov-13
	Stock-based compensation expense by type:
	Stock options	$	19	$	17	$	449	$	340
	Restricted stock unit awards, including performance-based		122		1,321		3,059		4,207
	Employee stock purchases		25		26		81		84
	Director deferred compensation		18		34		52		96
	Total stock-based compensation expense		184		1,398		3,641		4,727
	Income tax benefit recognized		60		516		1,342		1,745
	Stock-based compensation expense, net of income tax	$	124	$	882	$	2,299	$	2,982
	In the thirteen and thirty-nine weeks ended November 1, 2014 and November 2, 2013, we granted the following equity awards:
		Thirteen Weeks Ended				Thirty-Nine Weeks Ended
		1-Nov-14		2-Nov-13		1-Nov-14		2-Nov-13
	Stock options		1,244		810		19,219		19,251
	Restricted stock unit awards		-		-		63,399		62,625
	Performance-based restricted stock unit awards		-		-		25,300		36,700
	Deferred stock units		411		601		10,740		8,076
	Under the 2012 Non-Employee Director Equity Plan (2012 Plan), a total of 1,759 and 2,312 shares of our common stock were awarded during the thirty-nine weeks ended November 1, 2014 and November 2, 2013, respectively, as part of the annual equity award to directors in the first quarter.  In addition, under our employee stock purchase plan, our employees purchased 2,115 and 1,994 shares of our common stock during the thirteen weeks ended November 1, 2014 and November 2, 2013, respectively, and 6,796 and 6,860 shares of our common stock during the thirty-nine weeks ended November 1, 2014 and November 2, 2013, respectively.
	The weighted-average grant date fair value of stock options granted during the thirteen and thirty-nine weeks ended November 1, 2014 was $15.36 and $23.38 per share, respectively.  The weighted-average grant date fair value of shares of stock purchased through our employee stock purchase plan was $9.50 and $11.16, and the weighted-average price paid by our employees for shares of our common stock was $36.24 and $42.35 during the thirteen and thirty-nine weeks ended November 1, 2014, respectively.
	The weighted-average grant date fair value of stock options granted during the thirteen and thirty-nine weeks ended November 2, 2013 was $21.51 and $17.68 per share, respectively.  The weighted-average grant date fair value of shares of stock purchased through our employee stock purchase plan was $12.94 and $12.34, and the weighted-average price paid by our employees for shares of our common stock was $47.40 and $46.03 during the thirteen and thirty-nine weeks ended November 2, 2013, respectively.
	At November 1, 2014, the total compensation costs, related to nonvested restricted stock unit awards not yet recognized was $8.6 million and the weighted-average period over which such awards are expected to be recognized was 2.4 years.  There are no future compensation costs related to nonvested stock options to be recognized at November 1, 2014.

Earnings_Per_Share

Earnings Per Share	3 Months Ended
	Nov. 01, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share	'
	6.            Earnings Per Share
	The computation of basic earnings per share (EPS) is based on the number of weighted average common shares outstanding during the period.  The computation of diluted EPS is based on the weighted average number of shares outstanding plus the incremental shares that would be outstanding assuming exercise of dilutive stock options and issuance of restricted stock.  The number of incremental shares is calculated by applying the treasury stock method.  The following table sets forth the weighted average common shares outstanding (in thousands):
		Thirteen Weeks Ended				Thirty-Nine Weeks Ended
		1-Nov-14		2-Nov-13		1-Nov-14		2-Nov-13
	Weighted-average shares used in basic computations		25,111		25,823		25,504		25,893
	Dilutive equity awards		225		459		254		416
	Weighted-average shares used in diluted computations		25,336		26,282		25,758		26,309
	For the thirteen and thirty-nine weeks ended November 1, 2014 and November 2, 2013, no options were excluded from the computation of diluted weighted-average common shares and common share equivalents outstanding because of their anti-dilutive effect.
	We excluded 47,900 nonvested stock awards granted to certain employees from the computation of diluted weighted-average common shares and common share equivalents outstanding because they are subject to certain performance-based annual vesting conditions which had not been achieved by November 1, 2014.  Assuming the performance-criteria had been achieved as of November 1, 2014, the incremental dilutive impact would have been 25,084 shares.

Stock_Repurchase_Activity

Stock Repurchase Activity	3 Months Ended
	Nov. 01, 2014
Stock Repurchase Activity [Abstract]	'
Stock Repurchase Program	'
	7.            Stock Repurchase Activity
	In November 2012, the Board of Directors (Board) authorized a Stock Repurchase Program (Program) of $250.0 million to repurchase our common stock through January 29, 2016. The Program replaced an existing program (Former Program) and authorizes repurchases of our common stock in open market or negotiated transactions, with the amount and timing of repurchases dependent on market conditions and at the discretion of our management.  In addition to the Program, we also acquire shares of our common stock from holders of restricted stock unit awards to satisfy tax withholding requirements due at vesting.  Shares acquired from holders of restricted stock unit awards to satisfy tax withholding requirements do not reduce the Program authorization.
	During the thirteen weeks ended November 1, 2014, we repurchased 371,589 shares of our common stock at a cost of $16.7 million, including 689 shares acquired from holders of restricted stock unit awards to satisfy tax withholding requirements of $31,000.  During the thirty-nine weeks ended November 1, 2014, we repurchased 1,072,295 shares of our common stock at a cost of $54.6 million, including 81,895 shares acquired from holders of restricted stock unit awards to satisfy tax withholding requirements of $4.7 million.
	We repurchased 134,406 shares of our common stock during the thirteen weeks ended November 2, 2013 at a cost of $7.1 million. We repurchased 344,197 shares of our common stock during the thirty-nine weeks ended November 2, 2013 at a cost of $18.8 million, including 77,473 shares acquired from holders of restricted stock unit awards to satisfy tax withholding requirements of $4.3 million.
	As of November 1, 2014, we had approximately $179.7 million remaining under the Program for stock repurchase.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Nov. 01, 2014
Commitments and Contingencies [Abstract]	'
Commitments and Contingencies	'
	8.            Commitments and Contingencies
	Lease Commitments.
	We have entered into capital leases for certain property.  At November 1, 2014, the total capital lease obligations were $3.6 million, of which $0.4 million was included in short-term capital lease obligations and $3.2 million was included in other liabilities, net, on our unaudited condensed consolidated balance sheet.  At February 1, 2014, the total capital lease obligations were $3.2 million, of which $0.3 million was included in short-term capital lease obligations and $2.9 million was included in other liabilities, net, on our unaudited condensed consolidated balance sheet.
	During the thirteen weeks ended November 1, 2014, we opened 26 stores and closed 7 stores increasing our lease commitments by a net of 19 retail stores. The stores we opened have initial lease termination dates between August 2019 and February 2025.  At November 1, 2014, the future minimum lease payments, excluding maintenance, insurance and real estate taxes, for our current capital and operating leases, were as follows (in thousands):
		Capital		Operating		Total
	Remaining Fiscal 2015	$	179	$	13,752	$	13,931
	Fiscal 2016		726		48,534		49,260
	Fiscal 2017		735		40,257		40,992
	Fiscal 2018		735		31,980		32,715
	Fiscal 2019		730		24,290		25,020
	Fiscal 2020		703		16,026		16,729
	Thereafter		1,288		29,741		31,029
	Total minimum lease payments		5,096		204,580		209,676
	Less amount representing interest		1,528		-		1,528
	Present value of total minimum lease payments	$	3,568	$	204,580	$	208,148
	Included in the above table are future minimum lease payments on our former distribution center which aggregate approximately $0.2 million.  The related operating lease expires in December 2014.
	Annual Bonuses and Equity Incentive Awards.
	Specified officers and corporate employees of our Company are eligible to receive annual bonuses, based on measures of Company operating performance.  At November 1, 2014 and February 1, 2014, there was $2.6 million and $4.0 million, respectively, of annual bonus related expenses included in accrued payroll expenses on our unaudited condensed consolidated balance sheets.
	In addition, the Compensation Committee of the Board has placed performance criteria on awards of restricted stock units (PSUs) to our Named Executive Officers.  The performance criteria are tied to performance targets with respect to future return on invested capital and earnings before interest and taxes over a specified period of time.  These PSUs are expensed under the provisions of ASC Topic 718, Compensation – Stock Compensation, and are evaluated each quarter to determine the probability that the performance conditions set within will be met.
	Legal Proceedings and Other Contingencies.
	No material amounts were accrued at November 1, 2014 or February 1, 2014 pertaining to legal proceedings or other contingencies.

Income_Taxes

Income Taxes	3 Months Ended
	Nov. 01, 2014
Income Taxes [Abstract]	'
INCOME TAXES	'
	9.            Income Taxes
	Our effective tax rate is based on expected annual income, statutory tax rates and tax planning opportunities available in the various jurisdictions in which we operate.  For interim financial reporting, we estimate the annual effective tax rate based on expected taxable income for the full year and record a quarterly income tax provision in accordance with the anticipated annual effective rate and adjust for discrete items.  We update the estimates of the taxable income throughout the year as new information becomes available, including year-to-date financial results.  This process often results in a change to our expected effective tax rate for the year.  When this occurs, we adjust the income tax provision during the quarter in which the change in estimate occurs so that the year-to-date provision reflects the expected annual effective tax rate.  Significant judgment is required in determining our effective tax rate and in evaluating our tax positions.
	We apply the provisions of ASC Subtopic 740-10 in accounting for uncertainty in income taxes.  In accordance with ASC Subtopic 740-10, we recognize a tax benefit associated with an uncertain tax position when, in our judgment, it is more likely than not that the position will be sustained upon examination by a taxing authority.  For a tax position that meets the more-likely-than-not recognition threshold, we initially and subsequently measure the tax benefit as the largest amount that we judge to have a greater than 50% likelihood of being realized upon ultimate settlement with a taxing authority.  Our liability associated with unrecognized tax benefits is adjusted periodically due to changing circumstances, such as the progress of tax audits, case law developments and new or emerging legislation.  Such adjustments are recognized entirely in the period in which they are identified.  Our effective tax rate includes the net impact of changes in the liability for unrecognized tax benefits and subsequent adjustments as considered appropriate by management.
	A reconciliation of the unrecognized tax benefit under ASC Subtopic 740 follows (in thousands):
		1-Nov-14			1-Feb-14
	Unrecognized tax benefits - beginning of year	$	1,539		$	2,708
	Gross increases - tax positions in prior period		121			245
	Gross decreases - tax positions in prior period		(168	)		(964	)
	Gross increases - tax positions in current period		128			277
	Settlements		(119	)		(517	)
	Lapse of statute of limitations		(197	)		(210	)
	Unrecognized tax benefits - end of year	$	1,304		$	1,539
	We file income tax returns in the U.S. federal and various state jurisdictions.  Generally, we are not subject to changes in income taxes by the U.S. federal taxing jurisdiction for years prior to Fiscal 2012 or by most state taxing jurisdictions for years prior to Fiscal 2011.

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Nov. 01, 2014
Fair Value of Financial Instruments [Abstract]	'
Financial assets measured at fair value on a recurring basis	'
	The table below segregates all financial assets that are measured at fair value on a recurring basis (at least annually) into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value as of November 1, 2014 and February 1, 2014 (in thousands):
		1-Nov-14						1-Feb-14
		Level I		Level II		Level III		Level I		Level II		Level III
	Short-term investments	$	87	$	-	$	-	$	509	$	-	$	-
	Long-term investments		2,554		-		-		2,107		-		-
	Total investments	$	2,641	$	-	$	-	$	2,616	$	-	$	-

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	3 Months Ended
	Nov. 01, 2014
Stock-Based Compensation [Abstract]	'
Stock-based compensation expense by type	'
	The compensation costs that have been charged against income for the thirteen and thirty-nine weeks ended November 1, 2014 and November 2, 2013 were as follows (in thousands):
		Thirteen Weeks Ended				Thirty-Nine Weeks Ended
		1-Nov-14		2-Nov-13		1-Nov-14		2-Nov-13
	Stock-based compensation expense by type:
	Stock options	$	19	$	17	$	449	$	340
	Restricted stock unit awards, including performance-based		122		1,321		3,059		4,207
	Employee stock purchases		25		26		81		84
	Director deferred compensation		18		34		52		96
	Total stock-based compensation expense		184		1,398		3,641		4,727
	Income tax benefit recognized		60		516		1,342		1,745
	Stock-based compensation expense, net of income tax	$	124	$	882	$	2,299	$	2,982
Equity awards granted during the period	'
	In the thirteen and thirty-nine weeks ended November 1, 2014 and November 2, 2013, we granted the following equity awards:
		Thirteen Weeks Ended				Thirty-Nine Weeks Ended
		1-Nov-14		2-Nov-13		1-Nov-14		2-Nov-13
	Stock options		1,244		810		19,219		19,251
	Restricted stock unit awards		-		-		63,399		62,625
	Performance-based restricted stock unit awards		-		-		25,300		36,700
	Deferred stock units		411		601		10,740		8,076

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	3 Months Ended
	Nov. 01, 2014
Earnings Per Share [Abstract]	'
Weighted average common shares outstanding	'
	The computation of basic earnings per share (EPS) is based on the number of weighted average common shares outstanding during the period.  The computation of diluted EPS is based on the weighted average number of shares outstanding plus the incremental shares that would be outstanding assuming exercise of dilutive stock options and issuance of restricted stock.  The number of incremental shares is calculated by applying the treasury stock method.  The following table sets forth the weighted average common shares outstanding (in thousands):
		Thirteen Weeks Ended				Thirty-Nine Weeks Ended
		1-Nov-14		2-Nov-13		1-Nov-14		2-Nov-13
	Weighted-average shares used in basic computations		25,111		25,823		25,504		25,893
	Dilutive equity awards		225		459		254		416
	Weighted-average shares used in diluted computations		25,336		26,282		25,758		26,309

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	3 Months Ended
	Nov. 01, 2014
Commitments and Contingencies [Abstract]	'
Future minimum lease payments	'
	During the thirteen weeks ended November 1, 2014, we opened 26 stores and closed 7 stores increasing our lease commitments by a net of 19 retail stores. The stores we opened have initial lease termination dates between August 2019 and February 2025.  At November 1, 2014, the future minimum lease payments, excluding maintenance, insurance and real estate taxes, for our current capital and operating leases, were as follows (in thousands):
		Capital		Operating		Total
	Remaining Fiscal 2015	$	179	$	13,752	$	13,931
	Fiscal 2016		726		48,534		49,260
	Fiscal 2017		735		40,257		40,992
	Fiscal 2018		735		31,980		32,715
	Fiscal 2019		730		24,290		25,020
	Fiscal 2020		703		16,026		16,729
	Thereafter		1,288		29,741		31,029
	Total minimum lease payments		5,096		204,580		209,676
	Less amount representing interest		1,528		-		1,528
	Present value of total minimum lease payments	$	3,568	$	204,580	$	208,148

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments (Details) (USD $)	Nov. 01, 2014	Feb. 01, 2014
In Thousands, unless otherwise specified
Level I [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Short-term investments	$87	$509
Long-term investments	2,554	2,107
Total investments	2,641	2,616
Level II [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Short-term investments	0	0
Long-term investments	0	0
Total investments	0	0
Level III [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Short-term investments	0	0
Long-term investments	0	0
Total investments	$0	$0

Debt_Details

Debt (Details) (USD $)	9 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Nov. 01, 2014	Feb. 01, 2014
Line of Credit Facility [Line Items]	'	'
Number of unsecured credit facilities	2	2
Available borrowings under credit facilities	$80	$80
August 2015 Facility [Member]	'	'
Line of Credit Facility [Line Items]	'	'
Expiration date of renewed facility	21-Aug-15	21-Aug-15
Maximum borrowing capacity under renewed facility	30	30
Description of variable interest rate basis	'Higher of prime, federal funds plus 0.5% or LIBOR	'Higher of prime, federal funds plus 0.5% or LIBOR
Basis spread on variable interest rate (in hundredths)	0.50%	0.50%
Debt outstanding at period end	0	0
November 2014 Facility [Member]	'	'
Line of Credit Facility [Line Items]	'	'
Expiration date of renewed facility	18-Nov-14	18-Nov-14
Maximum borrowing capacity under renewed facility	50	50
Description of variable interest rate basis	'prime	'prime
Basis spread on variable interest rate (in hundredths)	2.00%	2.00%
Debt outstanding at period end	$0	$0

Debt_Subsequent_Event_Details

Debt, Subsequent Event (Details) (Renewal of Line of Credit [Member], USD $)	1 Months Ended
In Millions, unless otherwise specified	Nov. 18, 2014
Renewal of Line of Credit [Member]	'
Subsequent Event [Line Items]	'
Maximum borrowing capacity under renewed facility	$50
Description of variable interest rate basis	'Prime
Basis spread on variable interest rate (in hundredths)	2.00%
Expiration date of renewed facility	18-Nov-15

StockBased_Compensation_Detail

Stock-Based Compensation (Details) (USD $)	3 Months Ended		9 Months Ended
	Nov. 01, 2014	Nov. 02, 2013	Nov. 01, 2014	Nov. 02, 2013
Stock-based compensation expense by type [Abstract]	'	'	'	'
Stock options	$19,000	$17,000	$449,000	$340,000
Restricted stock unit awards, including performance-based	122,000	1,321,000	3,059,000	4,207,000
Employee stock purchases	25,000	26,000	81,000	84,000
Director deferred compensation	18,000	34,000	52,000	96,000
Total stock-based compensation expense	184,000	1,398,000	3,641,000	4,727,000
Income tax benefit recognized	60,000	516,000	1,342,000	1,745,000
Stock-based compensation expense, net of income tax	124,000	882,000	2,299,000	2,982,000
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Shares Awarded (in shares)	'	'	1,759	2,312
Shares of common stock purchased during the period under the employee stock purchase plan (in shares)	2,115	1,994	6,796	6,860
Weighted-average grant date fair value of stock options granted (in dollars per share)	$15.36	$21.51	$23.38	$17.68
Grant date fair value of shares purchased through the employee stock purchase plan (in dollars per share)	$9.50	$12.94	$11.16	$12.34
Purchase price paid for stock purchased through the employee stock purchase plan (in dollars per share)	$36.24	$47.40	$42.35	$46.03
Total compensation costs related to nonvested restricted stock unit awards not yet recognized	$8,600,000	'	$8,600,000	'
Weighted-average period over which nonvested restricted stock unit awards are expected to be recognized (in years)	'2 years 4 months 24 days	'	'	'
Stock Options [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Shares Awarded (in shares)	1,244	810	19,219	19,251
Restricted Stock Units [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Shares Awarded (in shares)	0	0	63,399	62,625
Performance-based Restricted Stock Units [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Shares Awarded (in shares)	0	0	25,300	36,700
Deferred Stock Units [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Shares Awarded (in shares)	411	601	10,740	8,076

Earnings_Per_Share_Details

Earnings Per Share (Details)	3 Months Ended		9 Months Ended
	Nov. 01, 2014	Nov. 02, 2013	Nov. 01, 2014	Nov. 02, 2013
Earnings Per Share [Abstract]	'	'	'	'
Weighted-average shares used in basic computations (in shares)	25,111,000	25,823,000	25,504,000	25,893,000
Dilutive equity awards (in shares)	225,000	459,000	254,000	416,000
Weighted-average shares used in diluted computations (in shares)	25,336,000	26,282,000	25,758,000	26,309,000
Nonvested Stock Awards [Member]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Antidilutive securities excluded from the computation of earnings per share (in shares)	47,900	'	'	'
Incremental dilutive impact if performance criteria had been achieved (in shares)	25,084	'	'	'
Stock Options [Member]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Antidilutive securities excluded from the computation of earnings per share (in shares)	'	'	0	0

Stock_Repurchase_Activity_Deta

Stock Repurchase Activity (Details) (USD $)	3 Months Ended		9 Months Ended
	Nov. 01, 2014	Nov. 02, 2013	Nov. 01, 2014	Nov. 02, 2013	Feb. 01, 2014
Equity, Class of Treasury Stock [Line Items]	'	'	'	'	'
Amount authorized under stock repurchase program	$250,000,000	'	$250,000,000	'	'
Shares of common stock repurchased during the period (in shares)	371,589	134,406	1,072,295	344,197	'
Shares acquired from holders of restricted stock unit awards to satisfy tax withholding requirements (in shares)	689	'	81,895	77,473	'
Value of common stock repurchased during current period	16,700,000	7,100,000	54,600,000	18,800,000	'
Value of tax withholding payments related to shares acquired from holders of restricted stock unit awards	31,000	'	4,700,000	4,300,000	'
Shares of common stock repurchased to date (in shares)	13,461,826	'	13,461,826	'	12,389,531
Value of common stock repurchased to date	397,940,000	'	397,940,000	'	343,363,000
Value of shares of common stock remaining available for repurchase under the program	$179,700,000	'	$179,700,000	'	'

Commitments_and_Contingencies_1

Commitments and Contingencies (Details) (USD $)	3 Months Ended
	Nov. 01, 2014	Feb. 01, 2014
	Lease
Commitments and Contingencies [Abstract]	'	'
Capital lease obligation	$3,600,000	$3,200,000
Capital lease obligation included in short-term liabilities	400,000	300,000
Capital lease obligation included in long-term liabilities	3,200,000	2,900,000
Stores opened	26	'
Stores closed	7	'
Increase in retail store lease commitments	19	'
Future Minimum Lease Payments, Capital Leases [Abstract]	'	'
Remaining Fiscal 2015	179,000	'
Fiscal 2016	726,000	'
Fiscal 2017	735,000	'
Fiscal 2018	735,000	'
Fiscal 2019	730,000	'
Fiscal 2020	703,000	'
Thereafter	1,288,000	'
Total minimum lease payments	5,096,000	'
Less amount representing interest	1,528,000	'
Present value of total minimum lease payments	3,568,000	'
Future Minimum Lease Payment, Operating Leases [Abstract]	'	'
Remaining Fiscal 2015	13,752,000	'
Fiscal 2016	48,534,000	'
Fiscal 2017	40,257,000	'
Fiscal 2018	31,980,000	'
Fiscal 2019	24,290,000	'
Fiscal 2020	16,026,000	'
Thereafter	29,741,000	'
Total minimum lease payments	204,580,000	'
Amount representing interest	0	'
Present value of total minimum lease payments	204,580,000	'
Future Minimum Lease Payments, Total [Abstract]	'	'
Remaining Fiscal 2015	13,931,000	'
Fiscal 2016	49,260,000	'
Fiscal 2017	40,992,000	'
Fiscal 2018	32,715,000	'
Fiscal 2019	25,020,000	'
Fiscal 2020	16,729,000	'
Thereafter	31,029,000	'
Total minimum lease payments	209,676,000	'
Amount representing interest	1,528,000	'
Present value of total minimum lease payments	208,148,000	'
Distribution Center [Abstract]	'	'
Future minimum lease payments related to distribution center	200,000	'
Annual Bonuses and Equity Incentive Awards [Abstract]	'	'
Annual bonus related expenses included in accrued payroll expenses	$2,600,000	$4,000,000

Income_Taxes_Details

Income Taxes (Details) (USD $)	9 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Nov. 01, 2014	Feb. 01, 2014
Reconciliation of unrecognized tax benefit [Roll Forward]	'	'
Unrecognized tax benefit - beginning of year	$1,539	$2,708
Gross increases - tax positions in prior period	121	245
Gross decreases - tax positions in prior period	-168	-964
Gross increases - tax positions in current period	128	277
Settlements	-119	-517
Lapse of statute of limitations	-197	-210
Unrecognized tax benefit - end of year	$1,304	$1,539