Belk (BLKIA) 10-Q 9 Dec 14 2015 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Nov. 01, 2014	Dec. 02, 2014	Dec. 02, 2014
		Class A Common Stock [Member]	Class B Common Stock [Member]
Document Information [Line Items]	'	'	'
Document Type	'10-Q	'	'
Amendment Flag	'false	'	'
Document Period End Date	1-Nov-14	'	'
Document Fiscal Year Focus	'2015	'	'
Document Fiscal Period Focus	'Q3	'	'
Trading Symbol	'belk	'	'
Entity Registrant Name	'BELK INC	'	'
Entity Central Index Key	'0001051771	'	'
Current Fiscal Year End Date	'--02-01	'	'
Entity Filer Category	'Accelerated Filer	'	'
Entity Common Stock, Shares Outstanding	'	38,323,701	940,702

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Income (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Nov. 01, 2014	Nov. 02, 2013	Nov. 01, 2014	Nov. 02, 2013
Income Statement [Abstract]	'	'	'	'
Revenues	$859,474	$860,743	$2,721,069	$2,716,035
Cost of goods sold (including occupancy, distribution and buying expenses)	598,755	589,722	1,849,799	1,836,855
Selling, general and administrative expenses	261,968	254,766	773,480	748,835
Gain on sale of property and equipment	909	559	2,649	1,372
Asset impairment and exit costs	445	1,831	1,343	3,526
Operating income (loss)	-785	14,983	99,096	128,191
Interest expense, net	-11,408	-10,681	-34,649	-32,562
Income (loss) before income taxes	-12,193	4,302	64,447	95,629
Income tax expense (benefit)	-3,962	742	22,752	33,357
Net income (loss)	($8,231)	$3,560	$41,695	$62,272
Basic net income (loss) per share	($0.21)	$0.09	$1.04	$1.49
Diluted net income (loss) per share	($0.21)	$0.09	$1.04	$1.48
Weighted average shares outstanding:	'	'	'	'
Basic	39,264,403	40,990,916	39,991,506	41,724,596
Diluted	39,264,403	41,195,708	40,059,296	41,996,697

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Nov. 01, 2014	Nov. 02, 2013	Nov. 01, 2014	Nov. 02, 2013
Statement of Comprehensive Income [Abstract]	'	'	'	'
Net income (loss)	($8,231)	$3,560	$41,695	$62,272
Other comprehensive income:	'	'	'	'
Defined benefit plan adjustments, net of $992 and $2,976 income taxes for the three and nine months ended November 1, 2014, respectively and $1,224 and $3,672 income taxes for the three and nine months ended November 2, 2013, respectively.	1,672	2,062	5,016	6,186
Total other comprehensive income	1,672	2,062	5,016	6,186
Total comprehensive income (loss)	($6,559)	$5,622	$46,711	$68,458

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Nov. 01, 2014	Nov. 02, 2013	Nov. 01, 2014	Nov. 02, 2013
Statement of Comprehensive Income [Abstract]	'	'	'	'
Net of income taxes on defined benefit plan adjustments	$992	$1,224	$2,976	$3,672

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Unaudited) (USD $)	Nov. 01, 2014	Feb. 01, 2014
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$57,552	$295,334
Accounts receivable, net	28,761	55,340
Merchandise inventory	1,317,065	987,778
Prepaid income taxes, expenses and other current assets	49,518	28,964
Total current assets	1,452,896	1,367,416
Property and equipment, net of accumulated depreciation and amortization of $1,540,153 and $1,487,140 as of November 1, 2014 and February 1, 2014, respectively.	1,273,550	1,158,066
Other assets	49,969	39,156
Total assets	2,776,415	2,564,638
Current liabilities:	'	'
Accounts payable	537,171	291,948
Accrued liabilities	261,964	239,658
Accrued income taxes	'	13,652
Deferred income taxes	33,831	33,422
Current installments of long-term debt and capital lease obligations	108,404	8,084
Total current liabilities	941,370	586,764
Deferred income taxes	24,759	16,613
Long-term debt and capital lease obligations, excluding current installments	320,174	385,673
Retirement obligations and other noncurrent liabilities	206,392	217,343
Total liabilities	1,492,695	1,206,393
Stockholders' equity:	'	'
Preferred stock	'	'
Common stock, 400 million shares authorized and 39.3 and 41.0 million shares issued and outstanding as of November 1, 2014 and February 1, 2014, respectively.	393	410
Paid-in capital	90,107	178,362
Retained earnings	1,324,527	1,315,796
Accumulated other comprehensive loss	-131,307	-136,323
Total stockholders' equity	1,283,720	1,358,245
Total liabilities and stockholders' equity	$2,776,415	$2,564,638

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $)	Nov. 01, 2014	Feb. 01, 2014
In Thousands, except Share data, unless otherwise specified
Statement of Financial Position [Abstract]	'	'
Accumulated depreciation and amortization on property and equipment	$1,540,153	$1,487,140
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	39,300,000	41,000,000
Common stock, shares outstanding	39,300,000	41,000,000

Condensed_Consolidated_Stateme3

Condensed Consolidated Statement of Changes in Stockholders' Equity (Unaudited) (USD $)	Total	Common Stock [Member]	Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
In Thousands
Balance at Feb. 01, 2014	$1,358,245	$410	$178,362	$1,315,796	($136,323)
Balance, shares at Feb. 01, 2014	'	40,991	'	'	'
Net income	41,695	'	'	41,695	'
Other comprehensive income	5,016	'	'	'	5,016
Cash dividends	-32,964	'	'	-32,964	'
Issuance of stock-based compensation	934	'	934	'	'
Stock-based compensation expense	4,116	'	4,116	'	'
Common stock issued	1,002	2	1,000	'	'
Common stock issued, shares	'	234	'	'	'
Repurchase and retirement of common stock	-94,324	-19	-94,305	'	'
Repurchase and retirement of common stock, shares	'	-1,961	'	'	'
Balance at Nov. 01, 2014	$1,283,720	$393	$90,107	$1,324,527	($131,307)
Balance, shares at Nov. 01, 2014	'	39,264	'	'	'

Condensed_Consolidated_Stateme4

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Nov. 01, 2014	Nov. 02, 2013
Cash flows from operating activities:	'	'
Net income	$41,695	$62,272
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Asset impairment and exit costs	1,343	3,526
Deferred income tax expense	6,566	10,618
Depreciation and amortization expense	113,293	99,989
Stock-based compensation expense	3,354	9,105
(Gain) loss on sale of property and equipment	-677	600
Amortization of deferred gain on sale and leaseback	-1,972	-1,972
Amortization of deferred debt issuance costs	437	623
(Increase) decrease in:	'	'
Accounts receivable, net	26,579	3,731
Merchandise inventory	-329,287	-284,739
Prepaid income taxes, expenses and other assets	-32,134	-20,728
Increase (decrease) in:	'	'
Accounts payable and accrued liabilities	258,544	210,239
Accrued income taxes	-13,652	-22,334
Retirement obligations and other liabilities	-210	-24,677
Net cash provided by operating activities	73,879	46,253
Cash flows from investing activities:	'	'
Purchases of property and equipment	-173,618	-176,215
Proceeds from sales of property and equipment	3,038	104
Net cash used by investing activities	-170,580	-176,111
Cash flows from financing activities:	'	'
Principal payments on long-term debt and capital lease obligations	-6,450	-6,376
Repurchase and retirement of common stock	-94,324	-101,911
Dividends paid	-32,964	'
Stock compensation tax benefit	357	1,644
Cash paid for withholding taxes in lieu of stock-based compensation shares	-6,349	-8,970
Deferred financing costs	-1,351	'
Net cash used by financing activities	-141,081	-115,613
Net decrease in cash and cash equivalents	-237,782	-245,471
Cash and cash equivalents at beginning of period	295,334	269,177
Cash and cash equivalents at end of period	57,552	23,706
Supplemental disclosures of cash flow information:	'	'
Income taxes paid	47,870	48,437
Interest paid, net of capitalized interest	18,286	18,527
Supplemental schedule of noncash activities:	'	'
Increase in property and equipment through accrued purchases	14,704	14,502
Increase in property and equipment through assumption of capital leases	23,128	844
Increase in assets through financing obligations	$18,141	'

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Nov. 01, 2014
Accounting Policies [Abstract]	'
Basis of Presentation	'
	(1) Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements of Belk, Inc. and subsidiaries (the “Company”) have been prepared in accordance with the instructions to Form 10-Q promulgated by the United States Securities and Exchange Commission (“SEC”) and should be read in conjunction with our Annual Report on Form 10-K for the fiscal year ended February 1, 2014. In the opinion of management, this information is fairly presented and all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of the results for the interim periods have been included; however, certain items are included in these statements based on estimates for the entire year. Also, operating results for the three and nine months ended November 1, 2014 may not be indicative of the operating results that may be expected for the full fiscal year.

New_Accounting_Pronouncements

New Accounting Pronouncements	9 Months Ended
	Nov. 01, 2014
Accounting Changes and Error Corrections [Abstract]	'
New Accounting Pronouncements	'
	(2) New Accounting Pronouncements
	In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2013-11, “Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (a consensus of the FASB Emerging Issues Task Force),” which requires presentation in the financial statements of an unrecognized tax benefit, or a portion of an unrecognized tax benefit as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The Company adopted this guidance beginning in the first quarter of fiscal year 2015 when it was required. The adoption of this update did not have a material effect on the Company’s condensed consolidated results of operations, financial position or cash flows.
	In January 2013, the FASB issued Accounting Standards Update No. 2013-04, “Liabilities (Topic 405): Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date (a consensus of the FASB Emerging Issues Task Force),” which requires measurement of obligations within the scope of this guidance to be the sum of the amount agreed to pay on the basis of arrangement among co-obligors and any additional amounts expected to pay on behalf of co-obligors, in addition to disclosure of the nature and amount of the obligation. The Company adopted this guidance beginning in the first quarter of fiscal year 2015 when it was required. The adoption of this update did not have a material effect on the Company’s condensed consolidated results of operations, financial position or cash flows.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Loss	9 Months Ended
	Nov. 01, 2014
Equity [Abstract]	'
Accumulated Other Comprehensive Loss	'
	(3) Accumulated Other Comprehensive Loss
	As of November 1, 2014 and February 1, 2014, the accumulated other comprehensive loss for defined benefit plans was $131.3 million and $136.3 million, respectively. These amounts are net of income taxes of $79.3 million and $82.3 million at November 1, 2014 and February 1, 2014, respectively.
	For the three months ended November 1, 2014 and November 2, 2013, the Company reclassified $1.7 million and $2.1 million of amortization of defined benefit plan liabilities to selling, general and administrative expenses on the condensed consolidated statements of income, respectively. These amounts are net of income taxes of $1.0 million and $1.2 million at November 1, 2014 and November 2, 2013, respectively.
	For the nine months ended November 1, 2014 and November 2, 2013, the Company reclassified $5.0 million and $6.2 million of amortization of defined benefit plan liabilities to selling, general and administrative expenses on the condensed consolidated statements of income, respectively. These amounts are net of income taxes of $3.0 million and $3.7 million at November 1, 2014 and November 2, 2013, respectively.

Fair_Value_Measurements

Fair Value Measurements	9 Months Ended
	Nov. 01, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Measurements	'
	(4) Fair Value Measurements
	Fair value is the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants on the measurement date. The Company uses a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets for identical assets and liabilities; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.
	The Company has equity and fixed income investments related to its company-owned life insurance. The fair value of the investments is the estimated amount that the Company would receive if the policy was terminated, taking into consideration the current creditworthiness of the insurer. The fair value of the company-owned life insurance is considered Level 2, as it is determined by inputs that are readily available in public markets or can be derived from information available in publicly quoted markets. Additionally, the change in the fair value of the company-owned life insurance is marked to market through income.
	As of November 1, 2014 and February 1, 2014, the Company held company-owned life insurance measured at fair value on a recurring basis of $39.3 million and $27.3 million, respectively. These amounts are presented net of loans that are secured by some of these policies of $153.7 million and $157.9 million at November 1, 2014 and February 1, 2014, respectively. Total gross company-owned life insurance assets were $193.0 million and $185.2 million at November 1, 2014 and February 1, 2014, respectively.
	Certain long-lived assets are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments only in certain circumstances (for example, when there is evidence of impairment). The fair value measurements related to long-lived assets are determined using expected future cash flow analyses. The Company estimates future cash flows based on historical experience and its expectation of future performance. The analyses use discounted cash flows and take into consideration any anticipated salvage value or sales price for the store. The analyses also assume available option periods through 20 years unless there is a real estate related event which would either increase or decrease the time period. The Company classifies these measurements as Level 3. There were no significant impairments of long-lived assets for the nine months ended November 1, 2014. During the nine months ended November 2, 2013, the Company recorded $2.4 million in impairment charges to adjust a retail location’s net book value to fair market value.
	As of November 1, 2014 and February 1, 2014, the fair value of fixed rate long-term debt, including the current portion and excluding capitalized leases, was $398.3 million and $393.1 million, respectively. The Company classifies these measurements as Level 2. The fair value of the Company’s fixed rate long-term debt is estimated based on the current rates offered for debt of the same remaining maturities and credit ratings. The total carrying value of long-term debt, including the current portion and excluding capitalized leases, was $375.0 million as of November 1, 2014 and February 1, 2014.

Borrowings

Borrowings	9 Months Ended
	Nov. 01, 2014
Debt Disclosure [Abstract]	'
Borrowings	'
	(5) Borrowings
	On October 22, 2014, the Company refinanced its credit facility. Under the new credit facility, the Company increased the revolving line of credit to $500.0 million maturing in October 2019. The refinanced credit facility allows for up to $100.0 million of outstanding letters of credit. The new credit facility contains restrictive covenants including leverage and fixed charge coverage ratios. The Company’s calculated leverage ratio dictates the LIBOR spread that will be charged on outstanding borrowings in the subsequent quarter. The leverage ratio is calculated by dividing adjusted debt, which is the sum of the Company’s outstanding debt and rent expense multiplied by a factor of eight, by pre-tax income plus net interest expense and non-cash items, such as depreciation, amortization, and impairment expense. The maximum leverage ratio of 4:1 remains the same as under the previous facility. At the Company’s discretion, amounts outstanding under the credit facility bear interest based on either (1) current LIBOR plus the applicable spread which ranges from 0.875% to 1.75%, or (2) the greater of the prime rate, the federal funds rate plus 0.50% or the one-month LIBOR plus 1.0% (the “Base Rate”), plus the applicable spread which ranges from 0.0% to 0.75%. The current applicable rate of 1.125% is based upon the calculated leverage ratio of 2.07 as of November 1, 2014. Previous dividend, share repurchase, and acquisition limitations were removed and changed under the new credit facility to pro forma covenant compliance. Pro forma covenant compliance would be reflective of the covenant calculations after giving effect for the applicable transaction. The Company was in compliance with all covenants at the end of third quarter fiscal year 2015 and does not anticipate non-compliance with any debt covenants for the next 12 months and foreseeable future.
	In July 2014, the $100.0 million, 5.31% fixed rate senior note became due within twelve months and was reclassified from long-term to short-term debt on the condensed consolidated balance sheet as of August 2, 2014.

Income_Taxes

Income Taxes	9 Months Ended
	Nov. 01, 2014
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	(6) Income Taxes
	Income tax benefit for the three months ended November 1, 2014 was $4.0 million, or 32.5% of pre-tax loss, compared to an income tax expense of $0.7 million, or 17.2% of pre-tax income, for the three months ended November 2, 2013. The decrease in income tax expense was due to a pre-tax loss for the three months ended November 1, 2014 compared to pre-tax income for the three months ended November 2, 2013. The increase in the income tax rate was primarily a result of the expiration of state related statute of limitations that reduced the accrual for uncertain tax reserves during fiscal year 2014.
	Income tax expense for the nine months ended November 1, 2014 was $22.8 million, or 35.3% of pre-tax income, compared to $33.4 million, or 34.9% of pre-tax income, for the nine months ended November 2, 2013. The decrease in income tax expense was due primarily to the decrease in net income before income taxes for the nine months ended November 1, 2014. The increase in the income tax rate was primarily a result of an extension of state related statute of limitations regarding the uncertain tax reserves, offset by higher non-taxable corporate owned life insurance income.

Pension_SERP_and_Postretiremen

Pension, SERP and Postretirement Benefits	9 Months Ended
	Nov. 01, 2014
Compensation and Retirement Disclosure [Abstract]	'
Pension, SERP and Postretirement Benefits	'
	(7) Pension, SERP and Postretirement Benefits
	The Company has a defined benefit pension plan, the Belk Pension Plan, which prior to fiscal year 2010 had been partially frozen and closed to new participants. Pension benefits were suspended for fiscal year 2010, and effective December 31, 2009, the Pension Plan was frozen for those remaining participants whose benefits were not previously frozen.
	The Company has a non-qualified defined benefit Supplemental Executive Retirement Plan, (“Old SERP”), which provides retirement and death benefits to certain qualified executives. Old SERP has been closed to new executives and has been replaced by the 2004 Supplemental Executive Retirement Plan (“2004 SERP”), a non-qualified defined contribution plan.
	The Company also provides postretirement medical and life insurance benefits to certain employees, and was closed to new participants in 2002. The Company accounts for postretirement benefits by recognizing the cost of these benefits over an employee’s estimated term of service with the Company, in accordance with ASC 715, “Compensation – Retirement Benefits.”
	The components of net periodic benefit expense for these plans are as follows:
		Three Months Ended
		Pension Plan						Old SERP Plan				Postretirement Plan
		November 1,			November 2,			November 1,		November 2,		November 1,			November 2,
		2014			2013			2014		2013		2014			2013
								(in thousands)
	Service cost	$	—		$	—		$	39	$	41	$	19		$	30
	Interest cost		5,986			5,691			133		129		206			228
	Expected return on plan assets		(7,530	)		(7,138	)		—		—		—			—
	Amortization of net loss (gain)		2,547			3,123			127		132		(10	)		31
	Net periodic benefit expense	$	1,003		$	1,676		$	299	$	302	$	215		$	289
		Nine Months Ended
		Pension Plan						Old SERP Plan				Postretirement Plan
		November 1,			November 2,			November 1,		November 2,		November 1,			November 2,
		2014			2013			2014		2013		2014			2013
								(in thousands)
	Service cost	$	—		$	—		$	117	$	123	$	57		$	90
	Interest cost		17,958			17,073			399		387		618			684
	Expected return on plan assets		(22,590	)		(21,414	)		—		—		—			—
	Amortization of net loss (gain)		7,641			9,369			381		396		(30	)		93
	Net periodic benefit expense	$	3,009		$	5,028		$	897	$	906	$	645		$	867
	The Company does not expect to make contributions to the Pension Plan during fiscal year 2015. During the three and nine months ended November 2, 2013, the Company made a discretionary contribution to its Pension Plan of $25.0 million.

Earnings_per_Share

Earnings per Share	9 Months Ended
	Nov. 01, 2014
Earnings Per Share [Abstract]	'
Earnings per Share	'
	(8) Earnings per Share
	Basic earnings per share (“EPS”) is computed by dividing net income by the weighted-average number of shares of common stock outstanding for the period. The diluted EPS calculation includes the effect of contingently issuable stock-based compensation awards with remaining service vesting conditions as being outstanding at the beginning of the period in which all vesting conditions are met.
	If all necessary conditions have not been satisfied by the end of the period, the contingently issuable shares included in diluted EPS are based on the number of dilutive shares that would be issuable at the end of the contingency period. Contingently-issuable non-vested share awards are included in the diluted EPS calculation as of the beginning of the period (or as of the date of the contingent share agreement, if later).
	The reconciliation of basic and diluted shares for the three and nine months ended November 1, 2014 and November 2, 2013, are as follows:
		Three Months Ended				Nine Months Ended
		November 1,		November 2,		November 1,		November 2,
		2014		2013		2014		2013
	Basic Shares		39,264,403		40,990,916		39,991,506		41,724,596
	Dilutive contingently-issuable non-vested share awards		—		204,461		67,409		271,770
	Dilutive contingently-issuable vested share awards		—		331		381		331
	Diluted Shares		39,264,403		41,195,708		40,059,296		41,996,697
	For the three months ended November 1, 2014, the Company had a net loss from operations; therefore, the inclusion of contingently-issuable vested and non-vested share awards would have an anti-dilutive effect on the Company’s calculation of diluted loss per share. Accordingly, the diluted loss per share equals basic loss per share for this period.

Repurchase_of_Common_Stock

Repurchase of Common Stock	9 Months Ended
	Nov. 01, 2014
Text Block [Abstract]	'
Repurchase of Common Stock	'
	(9) Repurchase of Common Stock
	On March 26, 2014, the Company’s Board of Directors approved a self-tender offer to purchase up to 1,500,000 shares of Class A and 580,000 shares of Class B common stock at a price of $48.10 per share. The tender offer was initiated on April 24, 2014 and completed on May 21, 2014 when the Company accepted for purchase 1,704,754 shares of Class A and 256,257 shares of Class B common stock for $94.3 million.

New_Accounting_Pronouncements_

New Accounting Pronouncements (Policies)	9 Months Ended
	Nov. 01, 2014
Accounting Changes and Error Corrections [Abstract]	'
New Accounting Pronouncements	'
	In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2013-11, “Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (a consensus of the FASB Emerging Issues Task Force),” which requires presentation in the financial statements of an unrecognized tax benefit, or a portion of an unrecognized tax benefit as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward. To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The Company adopted this guidance beginning in the first quarter of fiscal year 2015 when it was required. The adoption of this update did not have a material effect on the Company’s condensed consolidated results of operations, financial position or cash flows.
	In January 2013, the FASB issued Accounting Standards Update No. 2013-04, “Liabilities (Topic 405): Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date (a consensus of the FASB Emerging Issues Task Force),” which requires measurement of obligations within the scope of this guidance to be the sum of the amount agreed to pay on the basis of arrangement among co-obligors and any additional amounts expected to pay on behalf of co-obligors, in addition to disclosure of the nature and amount of the obligation. The Company adopted this guidance beginning in the first quarter of fiscal year 2015 when it was required. The adoption of this update did not have a material effect on the Company’s condensed consolidated results of operations, financial position or cash flows.

Pension_SERP_and_Postretiremen1

Pension, SERP and Postretirement Benefits (Tables)	9 Months Ended
	Nov. 01, 2014
Compensation and Retirement Disclosure [Abstract]	'
Schedule of Net Periodic Benefit Expense	'
	The components of net periodic benefit expense for these plans are as follows:
		Three Months Ended
		Pension Plan						Old SERP Plan				Postretirement Plan
		November 1,			November 2,			November 1,		November 2,		November 1,			November 2,
		2014			2013			2014		2013		2014			2013
								(in thousands)
	Service cost	$	—		$	—		$	39	$	41	$	19		$	30
	Interest cost		5,986			5,691			133		129		206			228
	Expected return on plan assets		(7,530	)		(7,138	)		—		—		—			—
	Amortization of net loss (gain)		2,547			3,123			127		132		(10	)		31
	Net periodic benefit expense	$	1,003		$	1,676		$	299	$	302	$	215		$	289
		Nine Months Ended
		Pension Plan						Old SERP Plan				Postretirement Plan
		November 1,			November 2,			November 1,		November 2,		November 1,			November 2,
		2014			2013			2014		2013		2014			2013
								(in thousands)
	Service cost	$	—		$	—		$	117	$	123	$	57		$	90
	Interest cost		17,958			17,073			399		387		618			684
	Expected return on plan assets		(22,590	)		(21,414	)		—		—		—			—
	Amortization of net loss (gain)		7,641			9,369			381		396		(30	)		93
	Net periodic benefit expense	$	3,009		$	5,028		$	897	$	906	$	645		$	867

Earnings_per_Share_Tables

Earnings per Share (Tables)	9 Months Ended
	Nov. 01, 2014
Earnings Per Share [Abstract]	'
Reconciliation of Basic and Diluted Shares	'
	The reconciliation of basic and diluted shares for the three and nine months ended November 1, 2014 and November 2, 2013, are as follows:
		Three Months Ended				Nine Months Ended
		November 1,		November 2,		November 1,		November 2,
		2014		2013		2014		2013
	Basic Shares		39,264,403		40,990,916		39,991,506		41,724,596
	Dilutive contingently-issuable non-vested share awards		—		204,461		67,409		271,770
	Dilutive contingently-issuable vested share awards		—		331		381		331
	Diluted Shares		39,264,403		41,195,708		40,059,296		41,996,697

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Loss - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Nov. 01, 2014	Nov. 02, 2013	Nov. 01, 2014	Nov. 02, 2013	Feb. 01, 2014
Equity [Abstract]	'	'	'	'	'
Accumulated other comprehensive loss for defined benefit plans	($131,307)	'	($131,307)	'	($136,323)
Accumulated income taxes on accumulated other comprehensive loss for defined benefit plans	-79,300	'	-79,300	'	-82,300
Amount reclassified from accumulated comprehensive income	1,672	2,062	5,016	6,186	'
Amount reclassified from accumulated comprehensive income, tax effect	$992	$1,224	$2,976	$3,672	'

Fair_Value_Measurements_Additi

Fair Value Measurements - Additional Information (Detail) (USD $)	9 Months Ended
	Nov. 01, 2014	Nov. 02, 2013	Feb. 01, 2014
Fair Value Disclosures [Abstract]	'	'	'
Life insurance corporate or bank owned fair value amount	$39,300,000	'	$27,300,000
Loans secured by company-owned life insurance	153,700,000	'	157,900,000
Company-owned life insurance assets, gross	193,000,000	'	185,200,000
Available option period	'20 years	'	'
Asset impairment charges	0	2,400,000	'
Fair value of fixed rate long-term debt	398,300,000	'	393,100,000
Carrying value of long-term debt	$375,000,000	'	$375,000,000

Borrowings_Additional_Informat

Borrowings - Additional Information (Detail) (USD $)

9 Months Ended

0 Months Ended

9 Months Ended

0 Months Ended

In Millions, unless otherwise specified

Nov. 01, 2014

Jul. 31, 2014

Oct. 22, 2014

Oct. 22, 2014

Oct. 22, 2014

Oct. 22, 2014

Nov. 01, 2014

Oct. 22, 2014

Oct. 22, 2014

Oct. 22, 2014

Oct. 22, 2014

Oct. 22, 2014

Letter of Credit [Member]

Federal Fund Rate [Member]

Base Rate [Member]

Leverage Ratio [Member]

New Revolving Credit Facility [Member]

New Revolving Credit Facility [Member]

Minimum [Member]

Minimum [Member]

Maximum [Member]

Maximum [Member]

LIBOR Rate [Member]

LIBOR Rate [Member]

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

Line of credit facility, maximum borrowing capacity

'

'

$100

'

'

'

'

$500

'

'

'

'

Line of credit facility, maturity year and month

'

'

'

'

'

'

'2019-10

'

'

'

'

'

Line of credit facility, interest rate description

'(1) current LIBOR plus the applicable spread which ranges from 0.875% to 1.75%, or (2) the greater of the prime rate, the federal funds rate plus 0.50% or the one-month LIBOR plus 1.0% (the "Base Rate"), plus the applicable spread which ranges from 0.0% to 0.75%.

'

'

'

'

'

'

'

'

'

'

'

Debt instrument, applicable spread rate

'

'

'

0.50%

1.00%

1.13%

'

'

0.00%

0.88%

0.75%

1.75%

Calculated leverage ratio

2.07

'

'

'

'

'

'

'

'

'

'

'

Debt instrument, applicable spread rate

'

'

'

'

'

'

'

'

1

'

4

'

Senior note, face amount

'

$100

'

'

'

'

'

'

'

'

'

'

Senior note, fixed interest rate

'

5.31%

'

'

'

'

'

'

'

'

'

'

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Nov. 01, 2014	Nov. 02, 2013	Nov. 01, 2014	Nov. 02, 2013
Income Tax Disclosure [Abstract]	'	'	'	'
Income tax expense (benefit)	($3,962)	$742	$22,752	$33,357
Income tax expense, percentage	32.50%	17.20%	35.30%	34.90%

Pension_SERP_and_Postretiremen2

Pension, SERP and Postretirement Benefits - Schedule of Net Periodic Benefit Expense (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Nov. 01, 2014	Nov. 02, 2013	Nov. 01, 2014	Nov. 02, 2013
Pension Plan [Member]	'	'	'	'
Defined Benefit Plan Disclosure [Line Items]	'	'	'	'
Interest cost	$5,986	$5,691	$17,958	$17,073
Expected return on plan assets	-7,530	-7,138	-22,590	-21,414
Amortization of net loss (gain)	2,547	3,123	7,641	9,369
Net periodic benefit expense	1,003	1,676	3,009	5,028
Old SERP Plan [Member]	'	'	'	'
Defined Benefit Plan Disclosure [Line Items]	'	'	'	'
Service cost	39	41	117	123
Interest cost	133	129	399	387
Amortization of net loss (gain)	127	132	381	396
Net periodic benefit expense	299	302	897	906
Postretirement Plan [Member]	'	'	'	'
Defined Benefit Plan Disclosure [Line Items]	'	'	'	'
Service cost	19	30	57	90
Interest cost	206	228	618	684
Amortization of net loss (gain)	-10	31	-30	93
Net periodic benefit expense	$215	$289	$645	$867

Pension_SERP_and_Postretiremen3

Pension, SERP and Postretirement Benefits - Additional Information (Detail) (Pension Plan [Member], USD $)	3 Months Ended	9 Months Ended
In Millions, unless otherwise specified	Nov. 02, 2013	Nov. 02, 2013
Pension Plan [Member]	'	'
Defined Benefit Plan Disclosure [Line Items]	'	'
Employer contribution to Pension Plan	$25	$25

Earnings_Per_Share_Reconciliat

Earnings Per Share - Reconciliation of Basic and Diluted Shares (Detail)	3 Months Ended		9 Months Ended
	Nov. 01, 2014	Nov. 02, 2013	Nov. 01, 2014	Nov. 02, 2013
Schedule Of Earnings Per Share Basic And Diluted [Line Items]	'	'	'	'
Basic Shares	39,264,403	40,990,916	39,991,506	41,724,596
Diluted Shares	39,264,403	41,195,708	40,059,296	41,996,697
Non-vested Share Awards [Member]	'	'	'	'
Schedule Of Earnings Per Share Basic And Diluted [Line Items]	'	'	'	'
Dilutive contingently-issuable	'	204,461	67,409	271,770
Vested Share Awards [Member]	'	'	'	'
Schedule Of Earnings Per Share Basic And Diluted [Line Items]	'	'	'	'
Dilutive contingently-issuable	'	331	381	331

Repurchase_of_Common_Stock_Add

Repurchase of Common Stock - Additional Information (Detail) (USD $)	0 Months Ended
In Millions, except Share data, unless otherwise specified	21-May-14	Mar. 26, 2014
Stock repurchase cost	94.3	'
Common Stock [Member]	'	'
Price per share of shares purchased under self-tender offer	'	48.1
Class A Common Stock [Member]	'	'
Self tender offer to repurchase, maximum	'	1,500,000
Purchase of common shares	1,704,754	'
Class B Common Stock [Member]	'	'
Self tender offer to repurchase, maximum	'	580,000
Purchase of common shares	256,257	'