Hastings Entertainment (HAST) 10-Q 10 Jun 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Apr. 30, 2014
Document And Entity Information [Line Items]	'
Document Type	'10-Q
Amendment Flag	'false
Document Period End Date	30-Apr-14
Document Fiscal Year Focus	'2014
Document Fiscal Period Focus	'Q1
Entity Registrant Name	'HASTINGS ENTERTAINMENT INC
Entity Central Index Key	'0001054579
Current Fiscal Year End Date	'--01-31
Entity Filer Category	'Smaller Reporting Company
Entity Common Stock, Shares Outstanding	8,143,317

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Apr. 30, 2014	Jan. 31, 2014
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$2,967	$3,753
Merchandise inventories, net	150,416	152,138
Prepaid expenses and other current assets	8,013	10,394
Total current assets	161,396	166,285
Rental assets, net of accumulated depreciation of $15,927 and $ 16,869 at April 30, 2014 and January 31, 2014, respectively	9,729	10,227
Property, equipment and improvements, net of accumulated depreciation of $233,166 and $230,971 at April 30, 2014 and January 31, 2014, respectively	28,313	29,212
Intangible assets, net	244	244
Other assets	593	677
Total Assets	200,275	206,645
Current liabilities:	'	'
Trade accounts payable	56,771	57,236
Accrued expenses and other current liabilities	26,535	28,359
Total current liabilities	83,306	85,595
Long term debt	51,289	51,749
Deferred income taxes	63	60
Other liabilities	5,166	5,239
Shareholders’ equity:	'	'
Preferred stock, $0.01 par value; 5,000,000 shares authorized; none issued	0	0
Common stock, $0.01 par value; 75,000,000 shares authorized; 11,944,544 shares issued and 8,143,317 shares outstanding at April 30, 2014 and January 31, 2014	119	119
Additional paid-in capital	36,435	36,413
Retained earnings	45,233	48,459
Accumulated other comprehensive income	0	347
Treasury stock, at cost 3,801,227 shares at April 30, 2014 and January 31, 2014	-21,336	-21,336
Total Shareholders’ Equity	60,451	64,002
Total Liabilities and Shareholders’ Equity	$200,275	$206,645

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Apr. 30, 2014	Jan. 31, 2014
In Thousands, except Share data, unless otherwise specified
Accumulated depreciation of rental assets	$15,927	$16,869
Accumulated depreciation of property, equipment and improvements	$233,166	$230,971
Preferred stock, par value	$0.01	$0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	11,944,544	11,944,544
Common stock, shares outstanding	8,143,317	8,143,317
Treasury stock, shares	3,801,227	3,801,227

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Apr. 30, 2014	Apr. 30, 2013
Merchandise revenue	$91,586	$94,800
Rental revenue	12,348	14,213
Gift card breakage revenue	23	114
Total revenues	103,957	109,127
Merchandise cost of revenue	63,473	64,433
Rental cost of revenue	4,287	4,903
Total cost of revenues	67,760	69,336
Gross profit	36,197	39,791
Selling, general and administrative expenses	39,390	41,745
Operating loss	-3,193	-1,954
Other income (expense):	'	'
Interest expense, net	-342	-263
Other, net	360	70
Loss before income taxes	-3,175	-2,147
Income tax expense	52	59
Net loss	($3,227)	($2,206)
Basic loss per share	($0.40)	($0.27)
Diluted loss per share	($0.40)	($0.27)
Weighted-average common shares outstanding:	'	'
Basic	8,143	8,143
Dilutive effect of stock awards	0	0
Diluted	8,143	8,143

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Loss (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 30, 2014	Apr. 30, 2013
Net loss	($3,227)	($2,206)
Other comprehensive income (loss) before income taxes	'	'
Unrealized gains on available for sale investments for Supplemental Executive Retirement Plan	0	62
Reclassification adjustment realized in net loss, included in Other Income (Expense)	-422	0
Other comprehensive income (loss), before income taxes	-422	62
Income taxes related to components of other comprehensive income (loss)	75	0
Other comprehensive income (loss), net of income taxes	-347	62
Total comprehensive loss	($3,574)	($2,144)

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 30, 2014	Apr. 30, 2013
Cash flows from operating activities:	'	'
Net loss	($3,227)	($2,206)
Adjustments to reconcile net loss to net cash provided by operating activities:	'	'
Rental asset depreciation expense	984	1,160
Purchases of rental assets	-1,332	-2,281
Property and equipment depreciation expense	2,692	3,372
Deferred income taxes	3	3
Loss on rental assets lost, stolen and defective	12	24
Loss on disposal or impairment of property and equipment, excluding rental assets	25	16
Non-cash stock-based compensation	23	22
Changes in operating assets and liabilities:	'	'
Merchandise inventories, net	2,725	746
Prepaid expenses and other current assets	451	-804
Trade accounts payable	3,110	3,917
Accrued expenses and other current liabilities	-217	3,076
Other assets and liabilities, net	-13	198
Net cash provided by operating activities	5,236	7,243
Cash flows from investing activities:	'	'
Purchases of property, equipment and improvements	-1,987	-1,324
Net cash used in investing activities	-1,987	-1,324
Cash flows from financing activities:	'	'
Borrowings under revolving credit facility	108,115	103,415
Repayments under revolving credit facility	-108,575	-108,743
Purchase of treasury stock	0	-28
Change in cash overdraft	-3,575	-761
Net cash used in financing activities	-4,035	-6,117
Net decrease in cash and cash equivalents	-786	-198
Cash and cash equivalents at beginning of period	3,753	3,730
Cash and cash equivalents at end of period	$2,967	$3,532

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Apr. 30, 2014
Basis of Presentation	'
	1. Basis of Presentation
	The accompanying unaudited consolidated financial statements of Hastings Entertainment, Inc. and its subsidiary (“Hastings,” the “Company,” “we,” “our,” or “us”) have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and with instructions in Form 10-Q and Article 10 of Regulation S-X. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted pursuant to such principles and regulations of the Securities and Exchange Commission. All adjustments, consisting of normal recurring adjustments, have been made which, in the opinion of management, are necessary for a fair presentation of the results of interim periods. The results of operations for such interim periods are not necessarily indicative of the results that may be expected for a full year because of, among other things, seasonality factors in the retail business. As is the case with many retailers, a significant portion of our revenues, and an even greater portion of our operating earnings, is generated in the fourth fiscal quarter, which includes the holiday selling season. The unaudited consolidated financial statements contained herein should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended January 31, 2014.
	The consolidated balance sheet at January 31, 2014 has been derived from the audited consolidated financial statements at that date but does not include all of the information and notes required by U.S. generally accepted accounting principles for complete financial statements. For further information, refer to the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended January 31, 2014.
	Our fiscal year ends on January 31 and is identified as the fiscal year for the immediately preceding calendar year. For example, the fiscal year that will end on January 31, 2015 is referred to as fiscal year 2014.

StockBased_Compensation

Stock-Based Compensation	3 Months Ended
	Apr. 30, 2014
Stock-Based Compensation	'
	2. Stock-Based Compensation
	We have various stock incentive plans, which allow us to issue stock options, stock appreciation rights, restricted shares, restricted stock units, performance awards and other awards. Stock-based compensation is discussed more fully in Note 14 to the Audited Consolidated Financial Statements in our Annual Report on Form 10-K for the fiscal year ended January 31, 2014.
	For the three months ended April 30, 2014 and 2013, we recognized approximately $23,000 and $22,000, respectively, of stock-based compensation expense. These amounts include expense related to incentive stock options, non-qualified stock options, and restricted stock units.
	As of April 30, 2014, we had 298,396 shares available to grant as stock-based compensation awards under our various stock incentive plans.

Store_Closing_Reserve

Store Closing Reserve	3 Months Ended
	Apr. 30, 2014
Store Closing Reserve	'
	3. Store Closing Reserve
	From time to time and in the normal course of business, we evaluate our store base to determine if we need to close a store. Such evaluations include consideration of, among other factors, current and future expected profitability, market trends, age of store and lease status.
	Amounts in “Accrued expenses and other current liabilities” and “Other liabilities” in the consolidated balance sheet at April 30, 2014 included the current and long-term portions, respectively, of accruals for the net present value of future minimum lease payments, net of estimated sublease income, attributable to closed stores. Expenses related to store closings are included in SG&A expenses in the consolidated statements of operations.
	The following table provides a roll-forward of our store closing reserve:
		Store  Closing
		Reserve
	Balance at January 31, 2014	$	1,113
	Additions to provision		--
	Changes in estimates		34
	Cash outlay, net		(105	)
	Balance at April 30, 2014	$	1,042

Longterm_Debt

Long-term Debt	3 Months Ended
	Apr. 30, 2014
Long-term Debt	'
	4. Long-term Debt
	We have entered into an Amended and Restated Loan and Security Agreement with Bank of America, N.A., as lender and agent (as subsequently amended, the “Credit Agreement”). The Credit Agreement provides for a revolving credit facility of $115 million, allows for the payment of dividends, has a maturity date of January 4, 2017, and provides that we may repurchase up to $10 million worth of our common stock. The Credit Agreement also provides that we may repurchase additional shares of our common stock in the event we meet certain criteria set forth in the Credit Agreement. The Credit Agreement includes certain debt and acquisition limitations and requires a minimum Availability (as defined in the Credit Agreement) that is greater than or equal to $10 million at all times. Our obligations under the Credit Agreement are secured by a pledge of substantially all of the assets of the Company and our subsidiary and are guaranteed by our subsidiary. The Merger Agreement that we entered into on March 17, 2014 (See Item 2—Management’s Discussion and Analysis of Financial Condition of Results of Operation—Merger Agreement) restricts our ability to pay dividends or purchase our shares.
	The amount outstanding under the Credit Agreement is limited by a borrowing base predicated on the sum of (a) 85% of Eligible Credit Card Receivables plus (b) either (i) at all times during the year, other than those stated in (ii), 90% of the liquidation value of eligible inventory or (ii) from September 1st through and including December 27th of each year, 92.5% of the liquidation value of eligible inventory, less (c) Availability Reserves and is limited to a ceiling of $115 million, less a minimum availability reserve that is greater than or equal to 10% of the lesser of (a) the Borrowing Base, or (b) the Revolving Credit Ceiling (each term as defined in the Credit Agreement), provided however that we must also maintain Availability that is greater than or equal to $10 million at all times. The lender may increase specifically defined reserves to reduce availability in the event of adverse changes in our industry or our financial condition that are projected to impact the value of our assets pledged as collateral. The lender must exercise reasonable judgment and act in good faith with respect to any changes in the specifically defined reserves.
	Interest under the Credit Agreement will accrue, at our election, at a Base Rate or Libor Rate, plus, in each case, an Applicable Margin, which is determined by reference to the level of Availability as defined in the Credit Agreement, with the Applicable Margin for Libor Rate loans ranging from 2.00% to 2.50% and the Applicable Margin for Base Rate (each term as defined in the Credit Agreement) loans ranging from 1.00% to 1.50%. In addition, unused line fees ranging from 0.30% to 0.375% (determined by reference to the level of usage under the Credit Agreement) are also payable on unused commitments.
	We utilize standby letters of credit to support certain insurance policies. The aggregate amount of the letters of credit at April 30, 2014, was approximately $0.8 million, which reduces the excess availability under the Credit Agreement.
	At April 30, 2014, we had approximately $46.3 million in excess availability, after the availability reserve, under the Credit Agreement. The average rate of interest incurred for the three months ended April 30, 2014 and 2013 was 2.5%.  Deferred financing costs that were amortized into interest expense during the three months ended April 30, 2014 and 2013 are excluded from the calculation of the average rate of interest for each respective period

Loss_Per_Share

Loss Per Share	3 Months Ended
	Apr. 30, 2014
Loss Per Share	'
	5. Loss per Share
	The computations for basic and diluted loss per share are as follows:
		Three Months Ended
		April 30,
		2014			2013
	Net loss	$	(3,227	)	$	(2,206	)
	Average shares outstanding:
	Basic		8,143			8,143
	Effect of stock awards		0			0
	Diluted		8,143			8,143
	Loss per share:
	Basic	$	(0.40	)	$	(0.27	)
	Diluted	$	(0.40	)	$	(0.27	)
	The following options to purchase shares of common stock were not included in the computation of diluted loss per share because their inclusion would have been antidilutive:
			Three Months Ended
			April 30,
			2014			2013
	Shares of common stock underlying options			516			595
	Exercise price range per share		$	1.69 to $8.70		$	2.05 to $8.70

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Apr. 30, 2014
Fair Value Measurements	'
	6. Fair Value Measurements
	We account for certain assets and liabilities at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The hierarchy below lists three levels of fair value based on the extent to which inputs used in measuring fair value are observable in the market. These levels are:
	—	Level 1 – Observable inputs – quoted prices in active markets for identical assets and liabilities;
	—	Level 2 – Observable inputs other than quoted prices in active markets for identical assets and liabilities – includes quoted prices for similar instruments, quoted prices for identical or similar instruments in inactive markets, and amounts derived from valuation models where all significant inputs are observable in active markets; and
	—	Level 3 – Unobservable inputs – includes amounts derived from valuation models where one or more significant inputs are unobservable and require us to develop relevant assumptions.
	At January 31, 2014, we had approximately $1.9 million in assets which were carried at fair value on a recurring basis, which consisted of available-for-sale investments related to our supplemental executive retirement plan (“SERP”). The fair value of these investments was determined using Level 1 inputs. During the first quarter of fiscal 2014, the remaining investments for the SERP were distributed by the Company.
	Our long-term debt approximates fair value as of both April 30, 2014 and January 31, 2014, due to the instrument bearing interest at variable rates that are comparable to what is currently available to us. We entered into a second amendment to the Credit Agreement on January 4, 2013, at which time our current interest rates were determined. See Note 4 on Debt for a more detailed discussion of our Credit Agreement.

Income_Taxes

Income Taxes	3 Months Ended
	Apr. 30, 2014
Income Taxes	'
	7. Income Taxes
	The effective tax rate for the three months ended April 30, 2014 was (1.6%) primarily due to Texas state income tax expense, which is based primarily on gross margin.
	As the Company has a net operating loss and a net deferred tax asset, which has been offset by a full valuation allowance at April 30, 2014, there is no tax liability, with the exception of Texas state income tax. The valuation allowance is approximately $15.6 million as of April 30, 2014. We reassess the valuation allowance quarterly, and if future evidence allows for a partial or full release of the valuation allowance, a tax benefit will be recorded accordingly.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	Apr. 30, 2014
Commitments and Contingencies	'
	8. Commitments and Contingencies
	Revenue Sharing Agreements
	The Company is obligated to pay certain studios minimum amounts associated with certain revenue-sharing agreements related to rental assets. As of April 30, 2014 and 2013, such minimum future payments approximated $0.9 million and $1.0 million, respectively. The balance at April 30, 2014 is expected to be paid during fiscal 2014.
	Legal Matters
	We are involved in various claims and legal actions arising in the ordinary course of business. In the opinion of management, the ultimate disposition of these matters will not have a material adverse effect on our financial position, results of operations or cash flows.
	On March 28, 2014, a lawsuit challenging the merger contemplated in the Merger Agreement that we entered into on March 17, 2014 (See Item 2--Management’s Discussion and Analysis of Financial Condition of Results of Operation--Merger Agreement) (the “Merger”), captioned CV-00072-J—Andreas Oberegger and David A. Capps, directly and derivatively on behalf of Hastings Entertainment, Inc., v. Danny W. Gurr, Ann S. Lieff, Frank O. Marrs, John H. Marmaduke, Jeffrey G. Shrader, Draw Another Circle, LLC (“Parent”), Hendrix Acquisition Corp. (“Merger Sub”), Joel Weinshanker and National Entertainment Collectibles Association, Inc. (NECA”), as defendants, and Hastings Entertainment, Inc., as a nominal defendant, was filed in the United States District Court for the Northern District of Texas, Amarillo Division. The plaintiffs are purported shareholders of the Company and are alleging several claims in connection with the Merger Agreement and the transactions contemplated therein.  Plaintiffs allege, among other things, that the Merger contemplated in the Merger Agreement provides for insufficient consideration to be paid to the Company’s shareholders in exchange for their shares of the Company’s common stock, that the officers and directors of the Company breached their respective fiduciary duties in the course of negotiating and approving the Merger Agreement and that the other defendants aided and abetted such breach of fiduciary duties.  The lawsuit seeks to enjoin the Merger or rescind the Merger if it is consummated and compensatory damages in an unspecified amount.  The Company believes that the lawsuit was improperly and prematurely filed under Texas law.  On April 16, 2014, the Company filed a Motion to Dismiss the Action, and Parent, Merger Sub, NECA and Mr. Weinshanker filed a Joinder to this Motion to Dismiss the Action on April 18, 2014.  The plaintiffs have filed a response in opposition to the motion to dismiss, and the Company has filed a reply.  The Court has not yet ruled on the motion.
	On May 13, 2014, the defendants filed a Notice of Stay under the Texas Business Organizations Code seeking an automatic stay for 60 days of all proceedings in this litigation except for the Court’s ruling on the defendant’s motion to dismiss.  The plaintiffs have filed a response contesting the stay.  The Court has not yet entered a stay of the action.
	On May 15, 2014, the plaintiffs filed a motion for leave to amend their complaint to add claims for failure to disclose material information in the preliminary proxy statement that we filed on April 22, 2014 in connection with the Merger Agreement (the “Proxy Statement”).  The defendants have filed responses opposing the motion.  The Court has not yet acted on this motion.
	On May 28, 2014, the plaintiffs filed a motion for expedited discovery and a motion for entry of a temporary restraining order to enjoin the proposed transaction from closing.  On May 30, 2014, two days after the plaintiffs filed this motion, the Court issued an Order Granting Motion for Temporary Restraining Order and Setting Hearing on Request for a Preliminary Injunction (the “Order”) restricting the Merger.  Under the terms of the Order, the Company is restricted, among other things, from consummating the Merger prior to June 12, 2014, on which date a hearing has been scheduled with respect to the Order.
	The Company believes that the lawsuit was improperly and prematurely filed under Texas law and that the claims alleged therein are factually incorrect and deficient as a matter of law.  The Company also believes that the grounds upon which the plaintiffs sought the Order are insufficient as a matter of fact and law.  The Company intends to vigorously dispute these claims at the June 12 hearing with respect to the Order and throughout the life of this litigation.
	Prior to filing the lawsuit, the plaintiffs' counsel sent the Company a demand letter dated March 20, 2014 demanding that the Board of Directors commence an action on behalf of the Company against the Directors.  The Board of Directors appointed a Special Committee composed of independent directors to review the plaintiffs’ allegations.  The Committee has not yet completed its review or made any determination as to what action, if any, should be taken in response to those allegations.
	On May 9, 2014, a second lawsuit was filed, alleging material omissions and misstatements in our Proxy Statement in violation of Sections 14 and 20 of the Exchange Act.  The action, captioned CV-00114-J—Sarabjeet Singh, individually and on behalf of others similarly situated v. Hastings Entertainment, Inc., John H. Marmaduke, Jeffrey G. Shrader, Ann S. Lieff, Frank O. Marrs, Danny W. Gurr, Draw Another Circle, LLC, Hendrix Acquisition Corp., Joel Weinshanker and National Entertainment Collectibles Association, Inc., was filed in the United States District Court for the Northern District of Texas, Amarillo Division.  The lawsuit, which purports to be a class action, seeks an injunction preventing consummation of the Merger, rescinding the Merger, if consummated, or granting rescissionary damages in an unspecified amount, compensatory damages in an unspecified amount and an award of costs and expenses.  The Company’s answer has not yet been filed, but it believes the allegations contained in the complaint are without merit and intends to vigorously defend the lawsuit.

Other_Comprehensive_Income

Other Comprehensive Income	3 Months Ended
	Apr. 30, 2014
Other Comprehensive Income	'
	9. Other Comprehensive Income
	Changes in the balances of each component of other comprehensive income (“OCI”) included in accumulated OCI for the three months ended April 30, 2014 are presented below.  All reclassification amounts are net of tax.
		Net Unrealized Gain (Loss) on
		Available-for Sale Securities in
		Supplemental Executive
		Retirement Plan
	Balance at January 31, 2014	$	347
	Other comprehensive income before reclassifications		0
	Amounts reclassified from accumulated OCI		(347	)
	Balance as of April 30, 2014	$	0

Recent_Accounting_Pronouncemen

Recent Accounting Pronouncements	3 Months Ended
	Apr. 30, 2014
Recent Accounting Pronouncements	'
	10. Recent Accounting Pronouncements
	In July 2013, the Financial Accounting Standards Board issued ASU No. 2013-11: Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, which requires unrecognized tax benefits to be presented as a decrease in a net operating loss, similar tax loss or tax credit carryforward if certain criteria are met. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The adoption of ASU 2013-11 in the first quarter of fiscal 2014 did not have a material impact on the Company’s consolidated financial statements.
	In May 2014, the Financial Accounting Standards Board issued ASU No. 2014-09: Revenue from Contracts with Customers, which requires a company to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The ASU is effective for fiscal years, and interim periods within those years, beginning in the first quarter of 2017.  We are in the process of reviewing ASU 2014-09; however, we do not anticipate any material impact on the Company’s consolidated financial statements.

Recent_Accounting_Pronouncemen1

Recent Accounting Pronouncements (Policies)	3 Months Ended
	Apr. 30, 2014
Impact of Recently Issued Accounting Standards	'
	In July 2013, the Financial Accounting Standards Board issued ASU No. 2013-11: Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, which requires unrecognized tax benefits to be presented as a decrease in a net operating loss, similar tax loss or tax credit carryforward if certain criteria are met. The ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The adoption of ASU 2013-11 in the first quarter of fiscal 2014 did not have a material impact on the Company’s consolidated financial statements.
	In May 2014, the Financial Accounting Standards Board issued ASU No. 2014-09: Revenue from Contracts with Customers, which requires a company to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The ASU is effective for fiscal years, and interim periods within those years, beginning in the first quarter of 2017.  We are in the process of reviewing ASU 2014-09; however, we do not anticipate any material impact on the Company’s consolidated financial statements.

Store_Closing_Reserve_Tables

Store Closing Reserve (Tables)	3 Months Ended
	Apr. 30, 2014
Summary of Roll-Forward for Store Closing Reserve	'
	The following table provides a roll-forward of our store closing reserve:
		Store  Closing
		Reserve
	Balance at January 31, 2014	$	1,113
	Additions to provision		--
	Changes in estimates		34
	Cash outlay, net		(105	)
	Balance at April 30, 2014	$	1,042

Loss_Per_Share_Tables

Loss Per Share (Tables)	3 Months Ended
	Apr. 30, 2014
Computations for Basic and Diluted Loss Per Share	'
	The computations for basic and diluted loss per share are as follows:
		Three Months Ended
		April 30,
		2014			2013
	Net loss	$	(3,227	)	$	(2,206	)
	Average shares outstanding:
	Basic		8,143			8,143
	Effect of stock awards		0			0
	Diluted		8,143			8,143
	Loss per share:
	Basic	$	(0.40	)	$	(0.27	)
	Diluted	$	(0.40	)	$	(0.27	)
Options to Purchase Shares of Common Stock not Included in Computation of Diluted Loss Per Share	'
	The following options to purchase shares of common stock were not included in the computation of diluted loss per share because their inclusion would have been antidilutive:
			Three Months Ended
			April 30,
			2014			2013
	Shares of common stock underlying options			516			595
	Exercise price range per share		$	1.69 to $8.70		$	2.05 to $8.70

Other_Comprehensive_Income_Tab

Other Comprehensive Income (Tables)	3 Months Ended
	Apr. 30, 2014
Changes in Balances of Each Component of Other Comprehensive Income Included in Accumulated Other Comprehensive Income	'
	Changes in the balances of each component of other comprehensive income (“OCI”) included in accumulated OCI for the three months ended April 30, 2014 are presented below.  All reclassification amounts are net of tax.
		Net Unrealized Gain (Loss) on
		Available-for Sale Securities in
		Supplemental Executive
		Retirement Plan
	Balance at January 31, 2014	$	347
	Other comprehensive income before reclassifications		0
	Amounts reclassified from accumulated OCI		(347	)
	Balance as of April 30, 2014	$	0

StockBased_Compensation_Additi

Stock-Based Compensation - Additional Information (Detail) (USD $)	3 Months Ended
	Apr. 30, 2014	Apr. 30, 2013
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]	'	'
Stock-based compensation expense	$23,000	$22,000
Shares available to grant as stock-based compensation awards	298,396	'

Store_Closing_Reserve_Summary_

Store Closing Reserve - Summary of Roll-Forward for Store Closing Reserve (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Apr. 30, 2014
Restructuring Cost And Reserve [Line Items]	'
Beginning Balance	$1,113
Additions to provision	'
Changes in estimates	34
Cash outlay, net	-105
Ending Balance	$1,042

Longterm_Debt_Additional_Infor

Long-term Debt - Additional Information (Detail) (USD $)	3 Months Ended					3 Months Ended
In Millions, unless otherwise specified	Apr. 30, 2014	Apr. 30, 2013	Apr. 30, 2014	Apr. 30, 2014	Apr. 30, 2014	Apr. 30, 2014	Apr. 30, 2014	Apr. 30, 2014	Apr. 30, 2014	Apr. 30, 2014	Dec. 27, 2013
			Minimum	Minimum	Minimum	Maximum	Maximum	Maximum	Credit Card Receivables Plus	Inventory	Inventory
				LIBOR Rate Loans Ranging	Base Rate Loans Ranging		LIBOR Rate Loans Ranging	Base Rate Loans Ranging
Line Of Credit Facility [Line Items]	'	'	'	'	'	'	'	'	'	'	'
Revolving credit facility	$115	'	'	'	'	'	'	'	'	'	'
Maturity date	4-Jan-17	'	'	'	'	'	'	'	'	'	'
Repurchase of common stock	10	'	'	'	'	'	'	'	'	'	'
Absolute minimum available reserve	10	'	'	'	'	'	'	'	'	'	'
Date of merger agreement	17-Mar-14	'	'	'	'	'	'	'	'	'	'
The amount outstanding under the Amended Credit Agreement is limited by a borrowing base	'	'	'	'	'	'	'	'	85.00%	90.00%	92.50%
Maximum limit to the line of credit facility	115	'	'	'	'	'	'	'	'	'	'
Minimum available reserve percentage	10.00%	'	'	'	'	'	'	'	'	'	'
Applicable Margin for loans ranging rate	'	'	'	2.00%	1.00%	'	2.50%	1.50%	'	'	'
Unused line fees ranging	'	'	0.30%	'	'	0.38%	'	'	'	'	'
Aggregate amount of the letters of credit	0.8	'	'	'	'	'	'	'	'	'	'
Excess availability of line of credit	$46.30	'	'	'	'	'	'	'	'	'	'
Average rate of interest	2.50%	2.50%	'	'	'	'	'	'	'	'	'

Loss_Per_Share_Computations_fo

Loss Per Share - Computations for Basic and Diluted Loss Per Share (Detail) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Apr. 30, 2014	Apr. 30, 2013
Schedule Of Earnings Per Share By Common Class [Line Items]	'	'
Net loss	($3,227)	($2,206)
Average shares outstanding:	'	'
Basic	8,143	8,143
Effect of stock awards	0	0
Diluted	8,143	8,143
Loss per share:	'	'
Basic	($0.40)	($0.27)
Diluted	($0.40)	($0.27)

Loss_Per_Share_Options_to_Purc

Loss Per Share - Options to Purchase Shares of Common Stock not Included in Computation of Diluted Loss Per Share (Detail) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Apr. 30, 2014	Apr. 30, 2013
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]	'	'
Shares of common stock underlying options	516	595
Exercise price range per share, lower limit	$1.69	$2.05
Exercise price range per share, upper limit	$8.70	$8.70

Fair_Value_Measurements_Additi

Fair Value Measurements - Additional Information (Detail) (USD $)	Jan. 31, 2014
In Millions, unless otherwise specified
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]	'
Fair value of assets on recurring basis	$1.90

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Apr. 30, 2014
Income Tax Disclosure [Line Items]	'
Effective tax rate	-1.60%
Valuation allowance	$15.60

Commitments_and_Contingencies_

Commitments and Contingencies - Additional Information (Detail) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Apr. 30, 2014	Apr. 30, 2013
Commitments And Contingencies [Line Items]	'	'
Minimum future payments related to rental assets	$0.90	$1
Date of merger agreement	17-Mar-14	'

Other_Comprehensive_Income_Cha

Other Comprehensive Income - Changes in Balances of Each Component of Other Comprehensive Income Included in Accumulated Other Comprehensive Income (Detail) (USD $)	Apr. 30, 2014	Jan. 31, 2014	Apr. 30, 2014
In Thousands, unless otherwise specified			Net Unrealized Gain (Loss) on Available-for Sale Securities in Supplemental Executive Retirement Plan
Accumulated Other Comprehensive Income Loss [Line Items]	'	'	'
Balance at beginning of period	$0	$347	$347
Other comprehensive income before reclassifications	'	'	0
Amounts reclassified from accumulated OCI	'	'	-347
Balance at end of period	$0	$347	$0