Belk (BLKIA) 10-Q 8 Sep 15 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Aug. 01, 2015	Sep. 01, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Aug. 1, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Trading Symbol	BELK
Entity Registrant Name	BELK INC
Entity Central Index Key	1,051,771
Current Fiscal Year End Date	--01-30
Entity Filer Category	Accelerated Filer
Class A Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		38,292,393
Class B Common Stock [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		1,097,872

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 01, 2015	Aug. 02, 2014	Aug. 01, 2015	Aug. 02, 2014
Income Statement [Abstract]
Revenues	$ 917,428	$ 906,453	$ 1,902,407	$ 1,861,596
Cost of goods sold (including occupancy, distribution and buying expenses)	618,183	604,926	1,283,684	1,251,044
Selling, general and administrative expenses	270,724	243,754	545,971	511,510
Gain on sale of property and equipment	653	1,153	1,324	1,740
Asset impairment and exit costs	1,154	110	1,610	898
Operating income	28,020	58,816	72,466	99,884
Interest expense, net	(10,611)	(11,700)	(22,554)	(23,242)
Income before income taxes	17,409	47,116	49,912	76,642
Income tax expense	2,912	16,514	13,615	26,716
Net income	$ 14,497	$ 30,602	$ 36,297	$ 49,926
Basic net income per share	$ 0.37	$ 0.77	$ 0.92	$ 1.24
Diluted net income per share	$ 0.37	$ 0.77	$ 0.92	$ 1.23
Weighted average shares outstanding:
Basic	39,384,830	39,625,262	39,345,750	40,355,057
Diluted	39,462,037	39,653,445	39,455,376	40,456,784

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 01, 2015	Aug. 02, 2014	Aug. 01, 2015	Aug. 02, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 14,497	$ 30,602	$ 36,297	$ 49,926
Other comprehensive income:
Defined benefit plan adjustments, net of $1,187 and $2,374 income taxes for the three and six months ended August 1, 2015, respectively and $992 and $1,984 income taxes for the three and six months ended August 2, 2014, respectively.	2,020	1,672	4,039	3,344
Total other comprehensive income	2,020	1,672	4,039	3,344
Total comprehensive income	$ 16,517	$ 32,274	$ 40,336	$ 53,270

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Comprehensive Income (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 01, 2015	Aug. 02, 2014	Aug. 01, 2015	Aug. 02, 2014
Statement of Comprehensive Income [Abstract]
Income taxes on defined benefit plan adjustments	$ 1,187	$ 992	$ 2,374	$ 1,984

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Aug. 01, 2015	Jan. 31, 2015
Current assets:
Cash and cash equivalents	$ 184,289	$ 294,359
Accounts receivable, net	58,221	60,575
Merchandise inventory	943,136	959,645
Prepaid income taxes, expenses and other current assets	38,782	27,323
Total current assets	1,224,428	1,341,902
Property and equipment, net of accumulated depreciation and amortization of $1,636,026 and $1,586,423 as of August 1, 2015 and January 31, 2015, respectively.	1,282,837	1,274,146
Other assets	46,003	38,443
Total assets	2,553,268	2,654,491
Current liabilities:
Accounts payable	293,709	277,212
Accrued liabilities	258,693	254,084
Accrued income taxes		26,780
Deferred income taxes	34,993	32,663
Current installments of long-term debt and capital lease obligations	5,662	108,736
Total current liabilities	593,057	699,475
Deferred income taxes	25,664	17,721
Long-term debt and capital lease obligations, excluding current installments	316,748	318,991
Retirement obligations and other noncurrent liabilities	239,893	256,558
Total liabilities	$ 1,175,362	$ 1,292,745
Stockholders' equity:
Preferred stock
Common stock, 400 million shares authorized and 39.4 and 39.3 million shares issued and outstanding as of August 1, 2015 and January 31, 2015, respectively.	$ 394	$ 393
Paid-in capital	102,197	94,877
Retained earnings	1,433,694	1,428,894
Accumulated other comprehensive loss	(158,379)	(162,418)
Total stockholders' equity	1,377,906	1,361,746
Total liabilities and stockholders' equity	$ 2,553,268	$ 2,654,491

Condensed Consolidated Balance6

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Thousands	Aug. 01, 2015	Jan. 31, 2015
Statement of Financial Position [Abstract]
Accumulated depreciation and amortization on property and equipment	$ 1,636,026	$ 1,586,423
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	39,400,000	39,300,000
Common stock, shares outstanding	39,400,000	39,300,000

Condensed Consolidated Stateme7

Condensed Consolidated Statement of Changes in Stockholders' Equity (unaudited) - 6 months ended Aug. 01, 2015 - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance at Jan. 31, 2015	$ 1,361,746	$ 393	$ 94,877	$ 1,428,894	$ (162,418)
Balance, shares at Jan. 31, 2015		39,264
Net income	36,297			36,297
Other comprehensive income	4,039				4,039
Cash dividends	(31,497)			(31,497)
Issuance of stock-based compensation	(1,802)		(1,802)
Stock-based compensation expense	9,122		9,122
Common stock issued	1	$ 1
Common stock issued, shares		126
Balance at Aug. 01, 2015	$ 1,377,906	$ 394	$ 102,197	$ 1,433,694	$ (158,379)
Balance, shares at Aug. 01, 2015		39,390

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Aug. 01, 2015	Aug. 02, 2014
Cash flows from operating activities:
Net income	$ 36,297	$ 49,926
Adjustments to reconcile net income to net cash provided by operating activities:
Asset impairment and exit costs	1,610	898
Deferred income tax (benefit) expense	(1,594)	951
Depreciation and amortization expense	84,877	73,921
Stock-based compensation expense	9,122	2,603
Gain on sale of property and equipment	(9)	(425)
Amortization of deferred gain on sale and leaseback	(1,315)	(1,315)
Amortization of deferred debt issuance costs	243	360
(Increase) decrease in:
Accounts receivable, net	2,354	(277)
Merchandise inventory	16,509	28,793
Prepaid income taxes, expenses and other assets	(20,166)	(10,148)
Increase (decrease) in:
Accounts payable and accrued liabilities	14,219	(24,991)
Accrued income taxes	(26,780)	(8,459)
Retirement obligations and other liabilities	1,223	800
Net cash provided by operating activities	116,590	112,637
Cash flows from investing activities:
Purchases of property and equipment	(87,097)	(112,280)
Proceeds from sales of property and equipment	117	772
Net cash used by investing activities	(86,980)	(111,508)
Cash flows from financing activities:
Principal payments on long-term debt and capital lease obligations	(105,317)	(4,178)
Repurchase and retirement of common stock		(94,325)
Dividends paid	(31,497)	(32,964)
Stock compensation tax benefit	455	357
Cash paid for withholding taxes in lieu of stock-based compensation shares	(3,321)	(6,349)
Net cash used by financing activities	(139,680)	(137,459)
Net decrease in cash and cash equivalents	(110,070)	(136,330)
Cash and cash equivalents at beginning of period	294,359	295,334
Cash and cash equivalents at end of period	184,289	159,004
Supplemental disclosures of cash flow information:
Income taxes paid	53,584	35,107
Interest paid, net of capitalized interest	13,871	13,682
Supplemental schedule of noncash investing activities:
Increase in property and equipment through accrued purchases	$ 7,380	8,467
Increase in property and equipment through assumption of capital leases		$ 23,130

Basis of Presentation

Basis of Presentation	6 Months Ended
	Aug. 01, 2015
Organization, Consolidation and Presentation of Financial Statements [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 January 31, 2015. 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 six months ended August 1, 2015 may not be indicative of the operating results that may be expected for the full fiscal year.

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Aug. 01, 2015
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	(2) New Accounting Pronouncements In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity,” which changes the definition of a discontinued operation and the requirements for reporting discontinued operations. The Company adopted this guidance beginning in the first quarter of fiscal year 2016 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 Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Aug. 01, 2015
Equity [Abstract]
Accumulated Other Comprehensive Loss	(3) Accumulated Other Comprehensive Loss As of August 1, 2015 and January 31, 2015, the accumulated other comprehensive loss for defined benefit plans was $158.4 million and $ 162.4 million, respectively. These amounts are net of income taxes of $95.3 million and $97.7 million at August 1, 2015 and January 31, 2015, respectively. For the three months ended August 1, 2015 and August 2, 2014, the Company reclassified $2.0 million and $1.7 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 $1.2 million and $1.0 million at August 1, 2015 and August 2, 2014, respectively. For the six months ended August 1, 2015 and August 2, 2014, the Company reclassified $4.0 million and $3.3 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 $2.4 million and $2.0 million at August 1, 2015 and August 2, 2014, respectively.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Aug. 01, 2015
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 August 1, 2015 and January 31, 2015, the Company held company-owned life insurance measured at fair value on a recurring basis of $36.8 million and $28.6 million, respectively. These amounts are presented net of loans that are secured by some of these policies of $161.6 million and $164.1 million at August 1, 2015 and January 31, 2015, respectively. Total gross company-owned life insurance assets were $198.5 million and $192.7 million at August 1, 2015 and January 31, 2015, 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 six months ended August 1, 2015 and August 2, 2014. As of August 1, 2015 and January 31, 2015, the fair value of fixed rate long-term debt, including the current portion and excluding capitalized leases, was $296.5 million and $400.9 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 $275.0 million and $375.0 million as of August 1, 2015 and January 31, 2015, respectively.

Borrowings

Borrowings	6 Months Ended
	Aug. 01, 2015
Debt Disclosure [Abstract]
Borrowings	(5) Borrowings On July 13, 2015, the Company paid, upon maturity, $100.0 million of its 5.31% fixed rate senior note.

Income Taxes

Income Taxes	6 Months Ended
	Aug. 01, 2015
Income Tax Disclosure [Abstract]
Income Taxes	(6) Income Taxes Income tax expense for the three months ended August 1, 2015 was $2.9 million, or 16.7% of pre-tax income, compared to $16.5 million, or 35.0% of pre-tax income, for the three months ended August 2, 2014. Income tax expense for the six months ended August 1, 2015 was $13.6 million, or 27.3% of pre-tax income, compared to $26.7 million, or 34.9% of pre-tax income, for the six months ended August 2, 2014. The decrease in the income tax rate for the three and six month periods was due primarily to the decrease in our reserve for uncertain tax positions.

Pension, SERP and Postretiremen

Pension, SERP and Postretirement Benefits	6 Months Ended
	Aug. 01, 2015
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 August 1, August 2, August 1, August 2, August 1, August 2, 2015 2014 2015 2014 2015 2014 (in thousands) Service cost $ — $ — $ 50 $ 39 $ 20 $ 19 Interest cost 5,466 5,986 142 133 167 206 Expected return on plan assets (6,824 ) (7,530 ) — — — — Amortization of net loss (gain) 2,965 2,547 242 127 — (10 ) Net periodic benefit expense $ 1,607 $ 1,003 $ 434 $ 299 $ 187 $ 215 Six Months Ended Pension Plan Old SERP Plan Postretirement Plan August 1, August 2, August 1, August 2, August 1, August 2, 2015 2014 2015 2014 2015 2014 (in thousands) Service cost $ — $ — $ 100 $ 78 $ 40 $ 38 Interest cost 10,932 11,972 284 266 334 412 Expected return on plan assets (13,648 ) (15,060 ) — — — — Amortization of net loss (gain) 5,930 5,094 484 254 — (20 ) Net periodic benefit expense $ 3,214 $ 2,006 $ 868 $ 598 $ 374 $ 430 The Company does not expect to make contributions to the Pension Plan during fiscal year 2016 and did not make any contributions during fiscal year 2015.

Earnings per Share

Earnings per Share	6 Months Ended
	Aug. 01, 2015
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 six months ended August 1, 2015 and August 2, 2014, are as follows: Three Months Ended Six Months Ended August 1, August 2, August 1, August 2, 2015 2014 2015 2014 Basic Shares 39,384,830 39,625,262 39,345,750 40,355,057 Dilutive contingently-issuable non-vested share awards 75,685 27,709 108,372 101,156 Dilutive contingently-issuable vested share awards 1,522 474 1,254 571 Diluted Shares 39,462,037 39,653,445 39,455,376 40,456,784

Subsequent Event

Subsequent Event	6 Months Ended
	Aug. 01, 2015
Subsequent Events [Abstract]
Subsequent Event	(9) Subsequent Event On August 23, 2015, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Bear Parent Inc., a Delaware corporation (“Parent”), and Bear Merger Sub Inc., a Delaware corporation and a wholly owned subsidiary of Parent (“Merger Sub”). Parent and Merger Sub are owned by affiliates of Sycamore Partners Management, L.P. Upon the terms and subject to the conditions of the Merger Agreement, Merger Sub will merge with and into the Company (the “merger”), with the Company surviving the merger as a wholly-owned subsidiary of Parent. At the effective time of the merger, each share of Class A common stock, par value $0.01 per share, and Class B common stock, par value $0.01 per share, of the Company (the “Common Stock”) outstanding immediately prior to the effective time of the merger (other than shares held (1) by the Company (or any direct or indirect subsidiary of the Company), Parent or Merger Sub (or an affiliate of Parent’s), including certain shares to be contributed to Parent or an affiliate of Parent immediately prior to the effective time of the merger by Mr. Thomas M. Belk, Jr. ( Chairman of the Board & Chief Executive Officer President & Chief Operating Officer Executive Vice President and Chief Financial Officer President & Chief Merchandising Officer The transaction is expected to close during the fourth quarter of fiscal year 2016, and is subject to customary closing conditions, including obtaining certain regulatory approvals and approval of our stockholders. If the merger is approved and consummated, Belk will no longer be a publicly-filed company, and we will account for the merger by applying the acquisition method as described in ASC 805, “Business Combinations.” Expenses have been incurred and will continue to be incurred in connection with the merger. Expenses incurred and associated with the proposed merger during the six months ending August 1, 2015 were $11.5 million. While it is assumed that certain expenses will be incurred such as legal and accounting fees, there are many factors that could affect the total amount or the timing of the expenses. Expenses may be incurred whether or not the proposed merger is completed and in certain circumstances, we could be required to pay a termination fee of $80.0 million if the merger does not occur. For a more detailed description of the Merger Agreement, please refer to the Current Report on Form 8-K filed on August 26, 2015.

New Accounting Pronouncements (

New Accounting Pronouncements (Policies)	6 Months Ended
	Aug. 01, 2015
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2014-08, “Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity,” which changes the definition of a discontinued operation and the requirements for reporting discontinued operations. The Company adopted this guidance beginning in the first quarter of fiscal year 2016 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 Postretirem19

Pension, SERP and Postretirement Benefits (Tables)	6 Months Ended
	Aug. 01, 2015
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 August 1, August 2, August 1, August 2, August 1, August 2, 2015 2014 2015 2014 2015 2014 (in thousands) Service cost $ — $ — $ 50 $ 39 $ 20 $ 19 Interest cost 5,466 5,986 142 133 167 206 Expected return on plan assets (6,824 ) (7,530 ) — — — — Amortization of net loss (gain) 2,965 2,547 242 127 — (10 ) Net periodic benefit expense $ 1,607 $ 1,003 $ 434 $ 299 $ 187 $ 215 Six Months Ended Pension Plan Old SERP Plan Postretirement Plan August 1, August 2, August 1, August 2, August 1, August 2, 2015 2014 2015 2014 2015 2014 (in thousands) Service cost $ — $ — $ 100 $ 78 $ 40 $ 38 Interest cost 10,932 11,972 284 266 334 412 Expected return on plan assets (13,648 ) (15,060 ) — — — — Amortization of net loss (gain) 5,930 5,094 484 254 — (20 ) Net periodic benefit expense $ 3,214 $ 2,006 $ 868 $ 598 $ 374 $ 430

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Aug. 01, 2015
Earnings Per Share [Abstract]
Reconciliation of Basic and Diluted Shares	The reconciliation of basic and diluted shares for the three and six months ended August 1, 2015 and August 2, 2014, are as follows: Three Months Ended Six Months Ended August 1, August 2, August 1, August 2, 2015 2014 2015 2014 Basic Shares 39,384,830 39,625,262 39,345,750 40,355,057 Dilutive contingently-issuable non-vested share awards 75,685 27,709 108,372 101,156 Dilutive contingently-issuable vested share awards 1,522 474 1,254 571 Diluted Shares 39,462,037 39,653,445 39,455,376 40,456,784

Accumulated Other Comprehensi21

Accumulated Other Comprehensive Loss - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Aug. 01, 2015	Aug. 02, 2014	Aug. 01, 2015	Aug. 02, 2014	Jan. 31, 2015
Equity [Abstract]
Accumulated other comprehensive loss for defined benefit plans	$ 158.4		$ 158.4		$ 162.4
Accumulated income taxes on accumulated other comprehensive loss for defined benefit plans			95.3		$ 97.7
Amount reclassified from accumulated comprehensive income	2	$ 1.7	4	$ 3.3
Amount reclassified from accumulated comprehensive income, tax effect	$ 1.2	$ 1	$ 2.4	$ 2

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	6 Months Ended
	Aug. 01, 2015	Aug. 02, 2014	Jan. 31, 2015
Fair Value Disclosures [Abstract]
Life insurance corporate or bank owned fair value amount	$ 36,800,000		$ 28,600,000
Loans secured by company-owned life insurance	161,600,000		164,100,000
Company-owned life insurance assets, gross	$ 198,500,000		192,700,000
Available option period	20 years
Asset impairment charges	$ 0	$ 0
Fair value of fixed rate long-term debt	296,500,000		400,900,000
Carrying value of long-term debt	$ 275,000,000		$ 375,000,000

Borrowings - Additional Informa

Borrowings - Additional Information (Detail) - Jul. 13, 2015 - 5.31% Fixed Rate Senior Note [Member] - USD ($) $ in Millions	Total
Debt Instrument [Line Items]
Payment of senior note on maturity	$ 100
Senior note, fixed interest rate	5.31%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 01, 2015	Aug. 02, 2014	Aug. 01, 2015	Aug. 02, 2014
Income Tax Disclosure [Abstract]
Income tax expense	$ 2,912	$ 16,514	$ 13,615	$ 26,716
Income tax expense, percentage	16.70%	35.00%	27.30%	34.90%

Pension, SERP and Postretirem25

Pension, SERP and Postretirement Benefits - Schedule of Net Periodic Benefit Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 01, 2015	Aug. 02, 2014	Aug. 01, 2015	Aug. 02, 2014
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 5,466	$ 5,986	$ 10,932	$ 11,972
Expected return on plan assets	(6,824)	(7,530)	(13,648)	(15,060)
Amortization of net loss (gain)	2,965	2,547	5,930	5,094
Net periodic benefit expense	1,607	1,003	3,214	2,006
Old SERP Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	50	39	100	78
Interest cost	142	133	284	266
Amortization of net loss (gain)	242	127	484	254
Net periodic benefit expense	434	299	868	598
Postretirement Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	20	19	40	38
Interest cost	167	206	334	412
Amortization of net loss (gain)		(10)		(20)
Net periodic benefit expense	$ 187	$ 215	$ 374	$ 430

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation of Basic and Diluted Shares (Detail) - shares	3 Months Ended		6 Months Ended
	Aug. 01, 2015	Aug. 02, 2014	Aug. 01, 2015	Aug. 02, 2014
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Basic Shares	39,384,830	39,625,262	39,345,750	40,355,057
Diluted Shares	39,462,037	39,653,445	39,455,376	40,456,784
Non-vested Share Awards [Member]
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Dilutive contingently-issuable	75,685	27,709	108,372	101,156
Vested Share Awards [Member]
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Dilutive contingently-issuable	1,522	474	1,254	571

Subsequent Event - Additional I

Subsequent Event - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Aug. 01, 2015	Aug. 23, 2015
Bear Parent Inc [Member]
Subsequent Event [Line Items]
Merger expenses	$ 11.5
Termination fee payable	$ 80
Merger Agreement [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Conversion rate per share		$ 68
Merger Agreement [Member] | Subsequent Event [Member] | Class A Common Stock [Member]
Subsequent Event [Line Items]
Common stock, par value		0.01
Merger Agreement [Member] | Subsequent Event [Member] | Class B Common Stock [Member]
Subsequent Event [Line Items]
Common stock, par value		$ 0.01