Hibbett (HIBB) 10-Q 7 Dec 16 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	3 Months Ended
	Oct. 29, 2016	Dec. 02, 2016	Aug. 01, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	HIBBETT SPORTS INC
Entity Central Index Key	1,017,480
Current Fiscal Year End Date	--01-28
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 1,092,096,870
Entity Common Stock, Shares Outstanding		21,962,107
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 29, 2016

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 29, 2016	Jan. 30, 2016
Current Assets:
Cash and cash equivalents	$ 41,195	$ 32,274
Inventories, net	292,461	283,099
Other current assets	16,557	14,995
Total current assets	350,213	330,368
Property and equipment	241,881	231,456
Less accumulated depreciation and amortization	135,280	130,067
Property and equipment, net	106,601	101,389
Other assets, net	10,087	10,615
Total Assets	466,901	442,372
Current Liabilities:
Accounts payable	85,710	88,456
Accrued payroll expenses	10,487	7,702
Deferred rent	4,467	3,972
Short-term capital lease obligations	545	478
Other accrued expenses	5,923	4,582
Total current liabilities	107,132	105,190
Deferred rent	20,716	19,119
Other liabilities, net	6,880	7,217
Total liabilities	134,728	131,526
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, 38,724,989 and 38,628,385 shares issued at October 29, 2016 and January 30, 2016, respectively	387	386
Paid-in capital	173,483	169,543
Retained earnings	685,603	636,583
Treasury stock, at cost; 16,743,282 and 15,831,926 shares repurchased at October 29, 2016 and January 30, 2016, respectively	(527,300)	(495,666)
Total stockholders' investment	332,173	310,846
Total Liabilities and Stockholders' Investment	$ 466,901	$ 442,372

UNAUDITED CONDENSED CONSOLIDAT3

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS Parenthetical - $ / shares	Oct. 29, 2016	Jan. 30, 2016
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)	38,724,989	38,628,385
Treasury stock, shares (in shares)	16,743,282	15,831,926

UNAUDITED CONDENSED CONSOLIDAT4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2016	Oct. 31, 2015	Oct. 29, 2016	Oct. 31, 2015
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Net sales	$ 237,006	$ 228,301	$ 726,031	$ 697,385
Cost of goods sold, including wholesale, logistics and store occupancy costs	153,181	145,949	468,947	450,140
Gross profit	83,825	82,352	257,084	247,245
Store operating, selling and administrative expenses	55,853	48,255	165,415	150,206
Depreciation and amortization	4,799	4,238	14,036	12,656
Operating income	23,173	29,859	77,633	84,383
Interest expense, net	60	67	187	201
Income before provision for income taxes	23,113	29,792	77,446	84,182
Provision for income taxes	8,509	11,115	28,426	31,065
Net income	$ 14,604	$ 18,677	$ 49,020	$ 53,117
Earnings per share:
Basic (in dollars per share)	$ 0.66	$ 0.79	$ 2.19	$ 2.18
Diluted (in dollars per share)	$ 0.66	$ 0.79	$ 2.18	$ 2.17
Weighted average shares outstanding:
Basic (in dollars per share)	21,989	23,607	22,350	24,333
Diluted (in dollars per share)	22,186	23,777	22,525	24,519

UNAUDITED CONDENSED CONSOLIDAT5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Oct. 29, 2016	Oct. 31, 2015
Cash Flows From Operating Activities:
Net income	$ 49,020	$ 53,117
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	14,036	12,656
Stock-based compensation	3,771	4,489
Other non-cash adjustments to net income	96	(303)
Increase in inventories, net	(9,362)	(36,530)
Increase in prepaid expenses	(1,095)	(4,520)
(Decrease) increase in accounts payable	(2,746)	26,224
Changes in other operating assets and liabilities	6,108	4,071
Net cash provided by operating activities	59,828	59,204
Cash Flows From Investing Activities:
Capital expenditures	(19,554)	(15,616)
Other, net	82	345
Net cash used in investing activities	(19,472)	(15,271)
Cash Flows From Financing Activities:
Cash used for stock repurchases	(30,691)	(85,824)
Payments on capital lease obligations	(344)	(327)
Proceeds from options exercised and purchase of shares under the employee stock purchase plan	458	530
Other, net	(858)	(1,256)
Net cash used in financing activities	(31,435)	(86,877)
Net increase (decrease) in cash and cash equivalents	8,921	(42,944)
Cash and cash equivalents, beginning of period	32,274	88,397
Cash and cash equivalents, end of period	$ 41,195	$ 45,453

Basis of Presentation and Accou

Basis of Presentation and Accounting Policies	3 Months Ended
	Oct. 29, 2016
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 January 30, 2016, 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 January 30, 2016 filed on March 28, 2016. 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 October 29, 2016 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 January 30, 2016 filed on March 28, 2016.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Oct. 29, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent Accounting Pronouncements	2. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) 2014-09, Revenue from Contracts with Customers In July 2015, the FASB issued ASU 2015-11, Inventory – Simplifying the Measurement of Inventory In February 2016, the FASB issued ASU 2016-02 – Leases In March 2016, the FASB issued ASU 2016-09 – Compensation – Stock Compensation: Improvements to Employee Share-Based Payment Accounting In August 2016, the FASB issued ASU 2016-15 – Statement of Cash Flows – Classification of Certain Cash Receipts and Cash Payments We continuously monitor and review all current accounting pronouncements and standards from the Financial Accounting Standards Board (FASB) of U.S. GAAP for applicability to our operations. As of October 29, 2016, there were no other new pronouncements, interpretations or staff positions that had or were expected to have a significant impact on our operations since our Annual Report on Form 10-K for the fiscal year ended January 30, 2016 filed on March 28, 2016.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Oct. 29, 2016
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, Level I Level II Level III 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 October 29, 2016 and January 30, 2016 (in thousands): October 29, 2016 January 30, 2016 Level I Level II Level III Level I Level II Level III Short-term investments $ 79 $ - $ - $ 79 $ - $ - Long-term investments 2,634 - - 2,562 - - Total investments $ 2,713 $ - $ - $ 2,641 $ - $ -

Debt

Debt	3 Months Ended
	Oct. 29, 2016
Debt Disclosure [Abstract]
Debt	4. Debt At October 29, 2016, 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 with an interest rate at one month LIBOR plus 2.0%. 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 incur any borrowings under our facilities during the thirteen weeks ended October 29, 2016. There were six days during the thirty-nine weeks ended October 29, 2016, where we incurred borrowings against our credit facilities for an average and maximum borrowing of $9.3 million and $11.8 million, respectively, and an average interest rate of 2.43%. We had no debt outstanding under either of these facilities as of October 29, 2016. At October 29, 2016, a total of $80.0 million was available to us from these facilities. At January 30, 2016, we had the same two unsecured facilities and corresponding terms as listed above, with the exception of the August facility whose interest rate was equal to the higher of prime rate, the federal funds rate plus 0.5% or LIBOR. There were 36 days during the fifty-two weeks ended January 30, 2016, where we incurred borrowings against our credit facilities for an average and maximum borrowing of $12.9 million and $28.4 million, respectively, and an average interest rate of 2.22%. Subsequent to October 29, 2016, we renewed our existing November facility of $50.0 million with an interest rate of prime plus 2%. The renewal was effective November 18, 2016 and will expire on November 18, 2017. The facility is unsecured and does not require a commitment or agency fee nor are there any covenant restrictions.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Oct. 29, 2016
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 October 29, 2016 and October 31, 2015 were as follows (in thousands): Thirteen Weeks Ended Thirty-Nine Weeks Ended October 29, 2016 October 31, 2015 October 29, 2016 October 31, 2015 Stock-based compensation expense by type: Stock options $ - $ 16 $ 384 $ 375 Restricted stock unit awards, including performance-based 629 815 3,237 3,980 Employee stock purchases 22 23 80 81 Director deferred compensation 24 18 70 53 Total stock-based compensation expense 675 872 3,771 4,489 Income tax benefit recognized 240 316 1,363 1,645 Stock-based compensation expense, net of income tax $ 435 $ 556 $ 2,408 $ 2,844 In the thirteen and thirty-nine weeks ended October 29, 2016 and October 31, 2015, we granted the following equity awards: Thirteen Weeks Ended Thirty-Nine Weeks Ended October 29, 2016 October 31, 2015 October 29, 2016 October 31, 2015 Stock options - 1,515 36,359 21,743 Restricted stock unit awards - - 100,775 69,529 Performance-based restricted stock unit awards - - 45,300 29,300 Deferred stock units 588 500 14,744 12,128 At October 29, 2016, the total compensation costs, related to nonvested restricted stock unit awards not yet recognized was $8.7 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 October 29, 2016. Under the 2012 Non-Employee Director Equity Plan (2012 Plan), no shares of our common stock were awarded during the thirteen weeks ended October 29, 2016 and October 31, 2015. A total of 2,851 and 1,981 shares of our common stock were awarded during the thirty-nine weeks ended October 29, 2016 and October 31, 2015, respectively, as part of the annual equity award to directors in the first quarter. There were no stock options granted during the thirteen weeks ended October 29, 2016. The weighted-average grant date fair value of stock options granted during the thirteen weeks ended October 31, 2015 was $10.52 per shares. The weighted-average grant date fair value of stock options granted during the thirty-nine weeks ended October 29, 2016 and October 31, 2015 was $10.56 and $17.23 per share, respectively. Our employee purchases of common stock, the average price per share and the weighted-average grant date fair value of shares purchased through our employee stock purchase plan were as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended October 29, 2016 October 31, 2015 October 29, 2016 October 31, 2015 Shares purchased 3,236 3,114 11,874 8,605 Average price per share $ 29.29 $ 29.76 $ 27.66 $ 36.66 Weighted average fair value at grant date $ 7.25 $ 10.01 $ 6.94 $ 10.35

Earnings Per Share

Earnings Per Share	3 Months Ended
	Oct. 29, 2016
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 October 29, 2016 October 31, 2015 October 29, 2016 October 31, 2015 Weighted-average shares used in basic computations 21,989 23,607 22,350 24,333 Dilutive equity awards 197 170 175 186 Weighted-average shares used in diluted computations 22,186 23,777 22,525 24,519 For the thirteen weeks ended October 29, 2016 and October 31, 2015, we excluded 104,091 options from the computation of diluted weighted-average common shares and common share equivalents outstanding because of their anti-dilutive effect. We excluded 69,650 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 October 29, 2016. Assuming the performance-criteria had been achieved as of October 29, 2016, the incremental dilutive impact would have been 36,269 shares.

Stock Repurchase Activity

Stock Repurchase Activity	3 Months Ended
	Oct. 29, 2016
Stock Repurchase Activity [Abstract]
Stock Repurchase Program	7. Stock Repurchase Activity In November 2015, the Board of Directors (Board) authorized a Stock Repurchase Program (Program) of $300.0 million to repurchase our common stock through February 2, 2019. The Program replaced an existing 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 October 29, 2016, we repurchased 53,519 shares of our common stock at a cost of $1.9 million, including 111 shares acquired from holders of restricted stock unit awards to satisfy tax withholding requirements of $4,600. During the thirty-nine weeks ended October 29, 2016, we repurchased 911,356 shares of our common stock at a cost of $31.6 million, including 25,993 shares acquired from holders of restricted stock unit awards to satisfy tax withholding requirements of $0.9 million. During the thirteen weeks ended October 31, 2015, we repurchased 1,341,170 shares of our common stock at a cost of $50.5 million. During the thirty-nine weeks ended October 31, 2015, we repurchased 2,137,389 shares of our common stock at a cost of $87.9 million, including 42,877 shares acquired from holders of restricted stock unit awards to satisfy tax withholding requirements of $2.1 million. As of October 29, 2016, we had approximately $269.3 million remaining under the Program for stock repurchases.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Oct. 29, 2016
Commitments and Contingencies [Abstract]
Commitments and Contingencies	8. Commitments and Contingencies Lease Commitments. We have entered into capital leases for certain property. At October 29, 2016, the total capital lease obligations were $3.3 million, of which $0.6 million was included in short-term capital lease obligations and $2.7 million was included in other liabilities, net, on our unaudited condensed consolidated balance sheet. At January 30, 2016, the total capital lease obligations were $3.6 million, of which $0.5 million was included in short-term capital lease obligations and $3.1 million was included in other liabilities, net, on our unaudited condensed consolidated balance sheet. During the thirteen weeks ended October 29, 2016, we opened 13 stores and closed five stores increasing our lease commitments by a net of eight retail stores. The stores we opened have initial lease termination dates between September 2021 and March 2027. 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 October 29, 2016 and January 30, 2016, there was $2.9 million and $3.2 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" as determined in accordance with Item 402(a) of Regulation S-K. 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, Legal Proceedings and Other Contingencies. No material amounts were accrued at October 29, 2016 and January 30, 2016 pertaining to legal proceedings or other contingencies.

Income Taxes

Income Taxes	3 Months Ended
	Oct. 29, 2016
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. At October 29, 2016, we had a liability of $1.4 million associated with unrecognized tax benefits. 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 2014 or by most state taxing jurisdictions for years prior to Fiscal 2013.

Fair Value of Financial Instr15

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Oct. 29, 2016
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 October 29, 2016 and January 30, 2016 (in thousands): October 29, 2016 January 30, 2016 Level I Level II Level III Level I Level II Level III Short-term investments $ 79 $ - $ - $ 79 $ - $ - Long-term investments 2,634 - - 2,562 - - Total investments $ 2,713 $ - $ - $ 2,641 $ - $ -

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Oct. 29, 2016
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 October 29, 2016 and October 31, 2015 were as follows (in thousands): Thirteen Weeks Ended Thirty-Nine Weeks Ended October 29, 2016 October 31, 2015 October 29, 2016 October 31, 2015 Stock-based compensation expense by type: Stock options $ - $ 16 $ 384 $ 375 Restricted stock unit awards, including performance-based 629 815 3,237 3,980 Employee stock purchases 22 23 80 81 Director deferred compensation 24 18 70 53 Total stock-based compensation expense 675 872 3,771 4,489 Income tax benefit recognized 240 316 1,363 1,645 Stock-based compensation expense, net of income tax $ 435 $ 556 $ 2,408 $ 2,844
Equity awards granted during the period	In the thirteen and thirty-nine weeks ended October 29, 2016 and October 31, 2015, we granted the following equity awards: Thirteen Weeks Ended Thirty-Nine Weeks Ended October 29, 2016 October 31, 2015 October 29, 2016 October 31, 2015 Stock options - 1,515 36,359 21,743 Restricted stock unit awards - - 100,775 69,529 Performance-based restricted stock unit awards - - 45,300 29,300 Deferred stock units 588 500 14,744 12,128
Employee Stock Purchases during the period	Our employee purchases of common stock, the average price per share and the weighted-average grant date fair value of shares purchased through our employee stock purchase plan were as follows: Thirteen Weeks Ended Thirty-Nine Weeks Ended October 29, 2016 October 31, 2015 October 29, 2016 October 31, 2015 Shares purchased 3,236 3,114 11,874 8,605 Average price per share $ 29.29 $ 29.76 $ 27.66 $ 36.66 Weighted average fair value at grant date $ 7.25 $ 10.01 $ 6.94 $ 10.35

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Oct. 29, 2016
Earnings Per Share [Abstract]
Weighted average common shares outstanding	The following table sets forth the weighted average common shares outstanding (in thousands): Thirteen Weeks Ended Thirty-Nine Weeks Ended October 29, 2016 October 31, 2015 October 29, 2016 October 31, 2015 Weighted-average shares used in basic computations 21,989 23,607 22,350 24,333 Dilutive equity awards 197 170 175 186 Weighted-average shares used in diluted computations 22,186 23,777 22,525 24,519

Fair Value of Financial Instr18

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Oct. 29, 2016	Jan. 30, 2016
Level I [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	$ 79	$ 79
Long-term investments	2,634	2,562
Total investments	2,713	2,641
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) $ in Millions	3 Months Ended	9 Months Ended	12 Months Ended
	Oct. 29, 2016USD ($)CreditFacility	Oct. 29, 2016USD ($)CreditFacility	Jan. 30, 2016USD ($)CreditFacility
Line of Credit Facility [Line Items]
Number of unsecured credit facilities | CreditFacility	2	2	2
Available borrowings under credit facilities	$ 80	$ 80	$ 80
Days borrowings incurred against facilities	0 days	6 days	36 days
Average borrowings outstanding	$ 0	$ 9.3	$ 12.9
Maximum borrowings outstanding	$ 0	$ 11.8	$ 28.4
Average interest rate on outstanding borrowings	0.00%	2.43%	2.22%
August 2015 Facility [Member]
Line of Credit Facility [Line Items]
Expiration date of renewed facility			Aug. 19, 2016
Maximum borrowing capacity under renewed facility			$ 30
Line of Credit Facility, Interest Rate Description			Higher of prime, federal funds plus 0.5% or LIBOR
Description of variable interest rate basis			federal funds
Basis spread on variable interest rate (in hundredths)			0.50%
Debt outstanding at period end			$ 0
November 2015 Facility [Member]
Line of Credit Facility [Line Items]
Expiration date of renewed facility	Nov. 18, 2016		Nov. 18, 2016
Maximum borrowing capacity under renewed facility	$ 50	$ 50	$ 50
Line of Credit Facility, Interest Rate Description	Prime plus 2%		Prime plus 2%
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	$ 0
August 2016 Facility [Member]
Line of Credit Facility [Line Items]
Expiration date of renewed facility	Aug. 31, 2017
Maximum borrowing capacity under renewed facility	$ 30	30
Line of Credit Facility, Interest Rate Description	one month LIBOR plus 2%
Description of variable interest rate basis	one month LIBOR
Basis spread on variable interest rate (in hundredths)	2.00%
Debt outstanding at period end	$ 0	$ 0

Debt, Subsequent Event (Details

Debt, Subsequent Event (Details) - Renewal of Line of Credit [Member] $ in Millions	1 Months Ended
	Aug. 19, 2016USD ($)
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	Nov. 18, 2017

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2016	Oct. 31, 2015	Oct. 29, 2016	Oct. 31, 2015
Stock-based compensation expense by type [Abstract]
Stock options	$ 0	$ 16	$ 384	$ 375
Restricted stock unit awards, including performance-based	629	815	3,237	3,980
Employee stock purchases	22	23	80	81
Director deferred compensation	24	18	70	53
Total stock-based compensation expense	675	872	3,771	4,489
Income tax benefit recognized	240	316	1,363	1,645
Stock-based compensation expense, net of income tax	$ 435	$ 556	$ 2,408	$ 2,844
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock purchased during the period under the employee stock purchase plan (in shares)	3,236	3,114	11,874	8,605
Shares Awarded (in shares)	0	0	2,851	1,981
Weighted-average grant date fair value of stock options granted (in dollars per share)	$ 0	$ 10.52	$ 10.56	$ 17.23
Grant date fair value of shares purchased through the employee stock purchase plan (in dollars per share)	7.25	10.01	6.94	10.35
Purchase price paid for stock purchased through the employee stock purchase plan (in dollars per share)	$ 29.29	$ 29.76	$ 27.66	$ 36.66
Total compensation costs related to nonvested restricted stock unit awards not yet recognized	$ 8,700		$ 8,700
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)	0	1,515	36,359	21,743
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares Awarded (in shares)	0	0	100,775	69,529
Performance-based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares Awarded (in shares)	0	0	45,300	29,300
Deferred Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares Awarded (in shares)	588	500	14,744	12,128

Earnings Per Share (Details)

Earnings Per Share (Details) - shares	3 Months Ended		9 Months Ended
	Oct. 29, 2016	Oct. 31, 2015	Oct. 29, 2016	Oct. 31, 2015
Earnings Per Share [Abstract]
Weighted-average shares used in basic computations (in shares)	21,989,000	23,607,000	22,350,000	24,333,000
Dilutive equity awards (in shares)	197,000	170,000	175,000	186,000
Weighted-average shares used in diluted computations (in shares)	22,186,000	23,777,000	22,525,000	24,519,000
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)	69,650
Incremental dilutive impact if performance criteria had been achieved (in shares)	36,269
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)	104,091	104,091

Stock Repurchase Activity (Deta

Stock Repurchase Activity (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Nov. 19, 2015	Oct. 29, 2016	Oct. 31, 2015	Oct. 29, 2016	Oct. 31, 2015	Jan. 30, 2016
Equity, Class of Treasury Stock [Line Items]
Amount authorized under stock repurchase program	$ 300,000,000	$ 300,000,000		$ 300,000,000
Stock Repurchase Program Expiration Date	Feb. 2, 2019
Shares of common stock repurchased during the period (in shares)		53,519	1,341,170	911,356	2,137,389
Shares acquired from holders of restricted stock unit awards to satisfy tax withholding requirements (in shares)		111	0	25,993	42,877
Value of common stock repurchased during current period		$ 1,900,000	$ 50,500,000	$ 31,600,000	$ 87,900,000
Value of tax withholding payments related to shares acquired from holders of restricted stock unit awards		$ 4,600	$ 0	$ 900,000	$ 2,100,000
Shares of common stock repurchased to date (in shares)		16,743,282		16,743,282		15,831,926
Value of common stock repurchased to date		$ 527,300,000		$ 527,300,000		$ 495,666,000
Value of shares of common stock remaining available for repurchase under the program		$ 269,300,000		$ 269,300,000

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	3 Months Ended
	Oct. 29, 2016USD ($)Lease	Jan. 30, 2016USD ($)
Commitments and Contingencies [Abstract]
Capital lease obligation	$ 3.3	$ 3.6
Capital lease obligation included in short-term liabilities	0.6	0.5
Capital lease obligation included in long-term liabilities	$ 2.7	3.1
Stores opened | Lease	13
Stores closed | Lease	5
Increase in retail store lease commitments | Lease	8
Annual Bonuses and Equity Incentive Awards [Abstract]
Annual bonus related expenses included in accrued payroll expenses	$ 2.9	$ 3.2
Minimum [Member]
Other Commitments [Line Items]
Initial Lease Termination Dates	September 2,021
Maximum [Member]
Other Commitments [Line Items]
Initial Lease Termination Dates	March 2,027

Income Taxes (Details)

Income Taxes (Details) $ in Millions	Oct. 29, 2016USD ($)
Reconciliation of unrecognized tax benefit [Roll Forward]
Unrecognized tax benefits that would affect effective income tax rate	$ 1.4