Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Nov. 03, 2013 | Dec. 09, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'Hooker Furniture Corp | ' |
Document Type | '10-Q | ' |
Current Fiscal Year End Date | '--02-02 | ' |
Entity Common Stock, Shares Outstanding | ' | 10,752,982 |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0001077688 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Document Period End Date | 3-Nov-13 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $) | Nov. 03, 2013 | Feb. 03, 2013 |
In Thousands, unless otherwise specified | ||
Current Assets | ' | ' |
Cash and cash equivalents | $29,946 | $26,342 |
Accounts receivable, less allowance for doubtful accounts of $1,082 and $1,249, respectively | 26,545 | 28,272 |
Inventories | 48,995 | 49,872 |
Prepaid expenses and other current assets | 3,075 | 3,569 |
Deferred taxes | 2,071 | 1,612 |
Total current assets | 110,632 | 109,667 |
Property, plant and equipment, net | 23,594 | 22,829 |
Intangible assets | 1,382 | 1,257 |
Cash surrender value of life insurance policies | 18,501 | 17,360 |
Deferred taxes | 4,321 | 4,379 |
Other assets | 332 | 331 |
Total assets | 158,762 | 155,823 |
Current Liabilities | ' | ' |
Trade accounts payable | 12,271 | 11,620 |
Accrued salaries, wages and benefits | 3,068 | 3,316 |
Other accrued expenses | 1,695 | 2,531 |
Total current liabilities | 17,034 | 17,467 |
Deferred compensation | 7,851 | 7,311 |
Total liabilities | 24,885 | 24,778 |
Shareholders' equity | ' | ' |
Common stock, no par value, 20,000 shares authorized, 10,753 and 10,746 shares issued and oustanding on each date, respectively | 17,528 | 17,360 |
Retained earnings | 116,197 | 113,483 |
Accumulated other comprehensive income | 152 | 202 |
Total shareholders' equity | 133,877 | 131,045 |
Total liabilities and shareholders' equity | $158,762 | $155,823 |
CONDENSED_CONSOLIDATED_BALANCE1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parentheticals) (USD $) | Nov. 03, 2013 | Feb. 03, 2013 |
In Thousands, unless otherwise specified | ||
Allowance for doubtful accounts (in Dollars) | $1,082 | $1,249 |
Common stock, shares authorized (in Shares) | 20,000 | 20,000 |
Common stock, shares issued (in Shares) | 10,753 | 10,746 |
Common stock, shares oustanding (in Shares) | 10,753 | 10,746 |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Nov. 03, 2013 | Oct. 28, 2012 | Nov. 03, 2013 | Oct. 28, 2012 |
Net sales | $59,125 | $56,803 | $170,721 | $158,718 |
Cost of sales | 45,527 | 43,243 | 129,950 | 122,971 |
Gross profit | 13,598 | 13,560 | 40,771 | 35,747 |
Selling and administrative expenses | 10,443 | 9,781 | 31,742 | 28,118 |
Operating income | 3,155 | 3,779 | 9,029 | 7,629 |
Other income (expense), net | 9 | 34 | -45 | 98 |
Income before income taxes | 3,164 | 3,813 | 8,984 | 7,727 |
Income tax expense | 1,048 | 1,379 | 3,054 | 2,799 |
Net income | $2,116 | $2,434 | $5,930 | $4,928 |
Earnings per share | ' | ' | ' | ' |
Basic (in Dollars per share) | $0.20 | $0.23 | $0.55 | $0.46 |
Diluted (in Dollars per share) | $0.20 | $0.23 | $0.55 | $0.46 |
Weighted average shares outstanding: | ' | ' | ' | ' |
Basic (in Shares) | 10,724 | 10,723 | 10,721 | 10,755 |
Diluted (in Shares) | 10,753 | 10,742 | 10,748 | 10,787 |
Cash dividends declared per share (in Dollars per share) | $0.10 | $0.10 | $0.30 | $0.30 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 03, 2013 | Oct. 28, 2012 | Nov. 03, 2013 | Oct. 28, 2012 |
Net Income | $2,116 | $2,434 | $5,930 | $4,928 |
Other comprehensive income: | ' | ' | ' | ' |
Amortization of actuarial gain | -27 | -14 | -81 | -43 |
Income tax effect on amortization of actuarial gains | 10 | 5 | 30 | 16 |
Adjustments to net periodic benefit cost | -17 | -9 | -51 | -27 |
Comprehensive Income | $2,099 | $2,425 | $5,879 | $4,901 |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Nov. 03, 2013 | Oct. 28, 2012 |
Cash flows from operating activities | ' | ' |
Cash received from customers | $172,409 | $155,192 |
Cash paid to suppliers and employees | -158,704 | -153,368 |
Income taxes paid, net | -3,904 | -900 |
Interest paid, net | -14 | -28 |
Net cash provided by operating activities | 9,787 | 896 |
Cash flows from investing activities | ' | ' |
Purchase of property, plant and equipment | -2,608 | -3,850 |
Proceeds received on notes issued for the sale of property, plant and equipment | 30 | 24 |
Proceeds from the sale of property and equipment | 31 | 403 |
Acquisition of Homeware.com URL | -125 | 0 |
Premiums paid on company-owned life insurance | -802 | -870 |
Proceeds received on company-owned life insurance | 516 | 0 |
Net cash used in investing activities | -2,958 | -4,293 |
Cash flows from financing activities | ' | ' |
Cash dividends paid | -3,225 | -3,235 |
Purchase and retirement of common stock | ' | -671 |
Net cash used in financing activities | -3,225 | -3,906 |
Net increase (decrease) in cash and cash equivalents | 3,604 | -7,303 |
Cash and cash equivalents at the beginning of the period | 26,342 | 40,355 |
Reconciliation of net income to net cash provided by operating activities: | ' | ' |
Net income | 5,930 | 4,928 |
Depreciation and amortization | 1,818 | 2,248 |
Non-cash restricted stock awards and performance grants | 500 | 300 |
Provision for doubtful accounts | -191 | -87 |
Deferred income taxes | -331 | 260 |
Gain on disposal of property | -6 | -45 |
Gain on insurance policies | -480 | -545 |
Changes in assets and liabilities: | ' | ' |
Trade accounts receivable | 1,918 | -3,562 |
Inventories | 877 | -4,718 |
Prepaid expenses and other current assets | 46 | 160 |
Trade accounts payable | 651 | 171 |
Accrued salaries, wages and benefits | -248 | -270 |
Accrued income taxes | -519 | 1,636 |
Other accrued expenses | -317 | 303 |
Deferred compensation | 139 | 117 |
Net cash provided by operating activties | 9,787 | 896 |
Cash and cash equivalents at the end of the period | $29,946 | $33,052 |
1_Preparation_of_Interim_Finan
1. Preparation of Interim Financial Statements | 9 Months Ended | |
Nov. 03, 2013 | ||
Disclosure Text Block [Abstract] | ' | |
Business Description and Basis of Presentation [Text Block] | ' | |
1. Preparation of Interim Financial Statements | ||
The condensed consolidated financial statements of Hooker Furniture Corporation and subsidiaries (referred to as “we,” “us,” “our,” “Hooker” or the “Company”) have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, these statements include all adjustments necessary for a fair statement of the results of all interim periods reported herein. All such adjustments are of a normal recurring nature. Certain information and footnote disclosures prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) are condensed or omitted pursuant to SEC rules and regulations. However, we believe that the disclosures made are adequate for a fair presentation of our results of operations and financial position. Operating results for the interim periods reported herein may not be indicative of the results expected for the fiscal year. These financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes included in our annual report on Form 10-K for the fiscal year ended February 3, 2013 (“2013 Annual Report”). | ||
The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect both the reported amounts of assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from our estimates. | ||
The financial statements contained herein are being filed as part of a quarterly report on Form 10-Q and include: | ||
§ | our results of operations for the thirteen-week period (also referred to as “three months,” “three-month period,” “quarter,” “third quarter” or “quarterly period”) that began August 5, 2013 and the thirty-nine week period (also referred to as “nine months,” or “nine-month period”) that began February 4, 2013, which both ended November 3, 2013, compared to the thirteen-week period that began July 30, 2012 and the thirty-nine week period that began January 30, 2012, which both ended October 28, 2012; and | |
§ | our financial condition as of November 3, 2013 compared to February 3, 2013. | |
References in these notes to the condensed consolidated financial statements of the Company to: | ||
§ | the 2014 fiscal year and comparable terminology mean the fiscal year that began February 4, 2013 and will end February 2, 2014; and | |
§ | the 2013 fiscal year and comparable terminology mean the fiscal year that began January 30, 2012 and ended February 3, 2013. | |
Certain amounts have been reclassified in the prior-period financial statements and notes to reflect the current-period classification. | ||
2_Accounts_Receivable
2. Accounts Receivable | 9 Months Ended | ||||||||
Nov. 03, 2013 | |||||||||
Receivables [Abstract] | ' | ||||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ' | ||||||||
2. Accounts Receivable | |||||||||
November 3, | February 3, | ||||||||
2013 | 2013 | ||||||||
Trade accounts receivable | $ | 19,886 | $ | 22,712 | |||||
Receivable from factor | 7,741 | 6,809 | |||||||
Allowance for doubtful accounts | (1,082 | ) | (1,249 | ) | |||||
Accounts receivable | $ | 26,545 | $ | 28,272 | |||||
“Receivable from factor” represents amounts due with respect to factored accounts receivable. We factor substantially all of our domestically produced upholstery accounts receivable without recourse to us. | |||||||||
Under our factoring agreement, invoices for domestically produced upholstery products are generated and transmitted to our customers, with copies to the factor on a daily basis, as products are shipped to our customers. The factor collects the amounts due and remits collected funds to us semi-weekly, less factoring fees. We retain ownership of the accounts receivable until the invoices are 90 days past due. At that time, the factor pays us the net invoice amount, less factoring fees, and takes ownership of the accounts receivable. The factor is then entitled to collect the invoices on its own behalf and retain any subsequent remittances. The invoiced amounts are reported as accounts receivable on our condensed consolidated balance sheets, generally from the date the merchandise is shipped to our customer until payment is received from the factor. | |||||||||
A limited number of our accounts receivable for our domestically produced upholstery are factored with recourse to us. The amounts of these receivables at November 3, 2013 and February 3, 2013 were $315,000 and $130,000, respectively. If the factor is unable to collect the amounts due, invoices are returned to us for collection. We include an estimate of potentially uncollectible receivables in our calculation of our allowance for doubtful accounts. | |||||||||
3_Inventories
3. Inventories | 9 Months Ended | ||||||||
Nov. 03, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventory Disclosure [Text Block] | ' | ||||||||
3. Inventories | |||||||||
November 3, | February 3, | ||||||||
2013 | 2013 | ||||||||
Finished furniture | $ | 58,748 | $ | 58,584 | |||||
Furniture in process | 918 | 688 | |||||||
Materials and supplies | 8,435 | 8,478 | |||||||
Inventories at FIFO | 68,101 | 67,750 | |||||||
Reduction to LIFO basis | (19,106 | ) | (17,878 | ) | |||||
Inventories | $ | 48,995 | $ | 49,872 | |||||
4_Property_Plant_and_Equipment
4. Property, Plant and Equipment | 9 Months Ended | ||||||||||||
Nov. 03, 2013 | |||||||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||||||
Property, Plant and Equipment Disclosure [Text Block] | ' | ||||||||||||
4. Property, Plant and Equipment | |||||||||||||
Depreciable Lives | November 3, | February 3, | |||||||||||
(In years) | 2013 | 2013 | |||||||||||
Buildings and land improvements | 15 | - | 30 | $ | 23,957 | $ | 23,680 | ||||||
Computer software and hardware | 3 | - | 10 | 22,446 | 22,203 | ||||||||
Machinery and equipment | 10 | 4,495 | 3,663 | ||||||||||
Leasehold improvements | Term of lease | 2,763 | 2,698 | ||||||||||
Furniture and fixtures | 3 | - | 8 | 2,180 | 1,989 | ||||||||
Other | 5 | 693 | 703 | ||||||||||
Total depreciable property at cost | 56,534 | 54,936 | |||||||||||
Less accumulated depreciation | 36,258 | 34,559 | |||||||||||
Total depreciable property, net | 20,276 | 20,377 | |||||||||||
Land | 1,152 | 1,152 | |||||||||||
Construction-in-progress | 2,166 | 1,300 | |||||||||||
Property, plant and equipment, net | $ | 23,594 | $ | 22,829 | |||||||||
At November 3, 2013, construction-in-progress consisted of $1.1 million of expenditures related to our ongoing Enterprise Resource Planning (ERP) conversion efforts and $1.1 million related to various other projects to enhance our facilities and operations. The increase in machinery and equipment for the first nine months of 2014 is primarily related to the capitalization of computerized fabric cutting equipment for our upholstery operating segment. | |||||||||||||
5_Intangible_Assets
5. Intangible Assets | 9 Months Ended | ||||||||
Nov. 03, 2013 | |||||||||
Disclosure Text Block [Abstract] | ' | ||||||||
Intangible Assets Disclosure [Text Block] | ' | ||||||||
5. Intangible Assets | |||||||||
November 3, | February 3, | ||||||||
2013 | 2013 | ||||||||
Non-amortizable Intangible Assets | |||||||||
Trademarks and trade names - Bradington-Young | $ | 861 | $ | 861 | |||||
Trademarks and trade names - Sam Moore | 396 | 396 | |||||||
URL- Homeware.com | 125 | - | |||||||
Total trademarks and tradenames | 1,382 | 1,257 | |||||||
We purchased the Homeware.com URL during the fiscal 2014 third quarter. | |||||||||
6_LongTerm_Debt
6. Long-Term Debt | 9 Months Ended |
Nov. 03, 2013 | |
Disclosure Text Block [Abstract] | ' |
Long-term Debt [Text Block] | ' |
6. Long-Term Debt | |
As of November 3, 2013, we had an aggregate $12.9 million available under our $15.0 million unsecured revolving credit facility to fund working capital needs. Standby letters of credit in the aggregate amount of $2.1 million, used to collateralize certain insurance arrangements and for imported product purchases, were outstanding under our revolving credit facility as of November 3, 2013. There were no additional borrowings outstanding under the revolving credit facility on November 3, 2013. Any principal outstanding under the revolving credit facility is due July 31, 2018. | |
7_Employee_Benefit_Plans
7. Employee Benefit Plans | 9 Months Ended | ||||||||||||||||
Nov. 03, 2013 | |||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Pension and Other Postretirement Benefits Disclosure [Text Block] | ' | ||||||||||||||||
7. Employee Benefit Plans | |||||||||||||||||
We maintain a supplemental retirement income plan (“SRIP”) for certain former and current executives. The liability for the SRIP at November 3, 2013 and February 3, 2013 was $7.6 million and $7.4 million, respectively, and is shown in our condensed consolidated balance sheets as follows: | |||||||||||||||||
November 3, | February 3, | ||||||||||||||||
2013 | 2013 | ||||||||||||||||
Accrued salaries, wages and benefits (current portion) | $ | 379 | $ | 379 | |||||||||||||
Deferred compensation (long-term portion) | 7,256 | 7,056 | |||||||||||||||
Total liability | $ | 7,635 | $ | 7,435 | |||||||||||||
Components of net periodic benefit cost for the SRIP are included in our condensed consolidated statements of income under selling and administrative expenses: | |||||||||||||||||
Thirteen Weeks Ended | Thirty-Nine Weeks Ended | ||||||||||||||||
November 3, | October 28, | November 3, | October 28, | ||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Net periodic benefit cost | |||||||||||||||||
Service cost | $ | 64 | $ | 64 | $ | 192 | $ | 191 | |||||||||
Interest cost | 73 | 74 | 219 | 223 | |||||||||||||
Actuarial gain | (26 | ) | (15 | ) | (79 | ) | (44 | ) | |||||||||
Net periodic benefit cost | $ | 111 | $ | 123 | $ | 332 | $ | 370 | |||||||||
8_Earnings_Per_Share
8. Earnings Per Share | 9 Months Ended | ||||||||||||||||
Nov. 03, 2013 | |||||||||||||||||
Earnings per share [Abstract] | ' | ||||||||||||||||
Earnings Per Share [Text Block] | ' | ||||||||||||||||
8. Earnings Per Share | |||||||||||||||||
We refer you to the Earnings Per Share disclosure in Note 1-Summary of Significant Accounting Policies, in the financial statements included in our 2013 Annual Report, for additional information concerning the calculation of earnings per share. | |||||||||||||||||
We have issued, under the Company’s Stock Incentive Plan, restricted stock awards to non-employee members of the board of directors since 2006 and restricted stock units (RSUs) to certain senior executives since fiscal 2012. Each RSU entitles the executive to receive one share of the Company’s common stock if the executive remains continuously employed with the Company through the end of a three-year service period. We expect to continue to grant these types of awards annually in the future. The following table sets forth the number of outstanding restricted stock awards and RSUs, net of forfeitures and vested shares, as of the fiscal period-end dates indicated: | |||||||||||||||||
November 3, | February 3, | ||||||||||||||||
2013 | 2013 | ||||||||||||||||
Restricted shares | 28,614 | 29,063 | |||||||||||||||
Restricted stock units | 32,353 | 32,353 | |||||||||||||||
60,967 | 61,416 | ||||||||||||||||
All restricted shares and RSUs awarded that have not yet vested are considered when computing diluted earnings per share. The following table sets forth the computation of basic and diluted earnings per share: | |||||||||||||||||
Thirteen Weeks Ended | Thirty-Nine Weeks Ended | ||||||||||||||||
November 3, | October 28, | November 3, | October 28, | ||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Net income | $ | 2,116 | $ | 2,434 | $ | 5,930 | $ | 4,928 | |||||||||
Less: Unvested participating restricted stock dividends | 3 | 3 | 9 | 3 | |||||||||||||
Net earnings allocated to unvested participating restricted stock | 6 | - | 16 | - | |||||||||||||
Earnings available for common shareholders | 2,107 | 2,431 | 5,905 | 4,925 | |||||||||||||
Weighted average shares outstanding for basic earnings per share | 10,724 | 10,723 | 10,721 | 10,755 | |||||||||||||
Dilutive effect of unvested restricted stock and RSU awards | 29 | 19 | 27 | 32 | |||||||||||||
Weighted average shares outstanding for diluted earnings per share | 10,753 | 10,742 | 10,748 | 10,787 | |||||||||||||
Basic earnings per share | $ | 0.2 | $ | 0.23 | $ | 0.55 | $ | 0.46 | |||||||||
Diluted earnings per share | $ | 0.2 | $ | 0.23 | $ | 0.55 | $ | 0.46 | |||||||||
9_Income_Taxes
9. Income Taxes | 9 Months Ended |
Nov. 03, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Tax Disclosure [Text Block] | ' |
9. Income Taxes | |
We recorded income tax expense of $1.0 million for the fiscal 2014 third quarter, compared to $1.4 million for the comparable prior-year period. The effective tax rates for the fiscal 2014 and 2013 third quarters were 33.1% and 36.2%, respectively. Our lower rate in the current year quarter is primarily due to the effect of permanent benefits for Company-owned life insurance and distributions from our former captive insurance arrangement being larger in relation to our pre-tax income. Additionally, during the fiscal 2014 third quarter, we established a reserve of $48,000 for an uncertain tax position related to the use of a state loss carryforward claimed on a state tax return. | |
We recorded income tax expense of $3.1 million for the first three quarters of fiscal 2014, compared to $2.8 million for the comparable prior-year period. The effective tax rates for the first three quarters of fiscal 2014 and 2013 were 34.0% and 36.2%, respectively. Our effective tax rate was impacted in both years by changes in our deferred tax rates, however the impact of a change in our federal deferred tax rate recorded in fiscal 2013 was more than twice the magnitude of the change to our state deferred tax asset in the current year. The difference between these two adjustments accounts for substantially all of the effective rate difference from year to year. | |
10_Segment_Information
10. Segment Information | 9 Months Ended | ||||||||||||||||||||||||||||||||
Nov. 03, 2013 | |||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||||||||||
Segment Reporting Disclosure [Text Block] | ' | ||||||||||||||||||||||||||||||||
10. Segment Information | |||||||||||||||||||||||||||||||||
For financial reporting purposes, we are organized into two operating segments – casegoods furniture and upholstered furniture. Results from our new H Contract and Homeware business initiatives, and the elimination of intercompany sales and profits related to these businesses, are aggregated with the results from our casegoods operating segment. The following table presents segment information for the periods, and as of the dates, indicated: | |||||||||||||||||||||||||||||||||
Thirteen Weeks Ended | Thirty-Nine Weeks Ended | ||||||||||||||||||||||||||||||||
3-Nov-13 | 28-Oct-12 | 3-Nov-13 | 28-Oct-12 | ||||||||||||||||||||||||||||||
% Net | % Net | % Net | % Net | ||||||||||||||||||||||||||||||
Net Sales | Sales | Sales | Sales | Sales | |||||||||||||||||||||||||||||
Casegoods | $ | 37,716 | 63.8 | % | $ | 36,508 | 64.3 | % | $ | 107,996 | 63.3 | % | $ | 101,447 | 63.9 | % | |||||||||||||||||
Upholstery | 21,409 | 36.2 | % | 20,295 | 35.7 | % | 62,725 | 36.7 | % | 57,271 | 36.1 | % | |||||||||||||||||||||
Consolidated | $ | 59,125 | 100 | % | $ | 56,803 | 100 | % | $ | 170,721 | 100 | % | $ | 158,718 | 100 | % | |||||||||||||||||
Gross Profit | |||||||||||||||||||||||||||||||||
Casegoods | $ | 9,620 | 25.5 | % | $ | 9,580 | 26.2 | % | $ | 28,766 | 26.6 | % | $ | 25,154 | 24.8 | % | |||||||||||||||||
Upholstery | 3,978 | 18.6 | % | 3,980 | 19.6 | % | 12,005 | 19.1 | % | 10,593 | 18.5 | % | |||||||||||||||||||||
Consolidated | $ | 13,598 | 23 | % | $ | 13,560 | 23.9 | % | $ | 40,771 | 23.9 | % | $ | 35,747 | 22.5 | % | |||||||||||||||||
Operating Income | |||||||||||||||||||||||||||||||||
Casegoods | $ | 2,612 | 6.9 | % | $ | 3,212 | 8.8 | % | $ | 6,984 | 6.5 | % | $ | 6,960 | 6.9 | % | |||||||||||||||||
Upholstery | 543 | 2.5 | % | 567 | 2.8 | % | 2,045 | 3.3 | % | 669 | 1.2 | % | |||||||||||||||||||||
Consolidated | $ | 3,155 | 5.3 | % | $ | 3,779 | 6.7 | % | $ | 9,029 | 5.3 | % | $ | 7,629 | 4.8 | % | |||||||||||||||||
Depreciation & | |||||||||||||||||||||||||||||||||
Amortization | |||||||||||||||||||||||||||||||||
Casegoods | $ | 388 | $ | 538 | $ | 1,150 | $ | 1,421 | |||||||||||||||||||||||||
Upholstery | 245 | 235 | 668 | 827 | |||||||||||||||||||||||||||||
Consolidated | $ | 633 | $ | 773 | $ | 1,818 | $ | 2,248 | |||||||||||||||||||||||||
Capital Expenditures | |||||||||||||||||||||||||||||||||
Casegoods | $ | 590 | $ | 617 | $ | 1,817 | $ | 2,382 | |||||||||||||||||||||||||
Upholstery | 292 | 298 | 791 | 1,468 | |||||||||||||||||||||||||||||
Consolidated | $ | 882 | $ | 915 | $ | 2,608 | $ | 3,850 | |||||||||||||||||||||||||
As of November 3, 2013 | % Total | As of February 3, 2013 | % Total | ||||||||||||||||||||||||||||||
Total Assets | Assets | Assets | |||||||||||||||||||||||||||||||
Casegoods | $ | 123,656 | 77.9 | % | 124,509 | 79.9 | % | ||||||||||||||||||||||||||
Upholstery | 35,106 | 22.1 | % | 31,314 | 20.1 | % | |||||||||||||||||||||||||||
Consolidated | $ | 158,762 | 100 | 155,823 | 100 | % | |||||||||||||||||||||||||||
11_Subsequent_Events
11. Subsequent Events | 9 Months Ended |
Nov. 03, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
11. Subsequent Events | |
Dividends | |
On November 26, 2013, our board of directors declared a quarterly cash dividend of $0.10 per share, payable on December 27, 2013 to shareholders of record at December 12, 2013. | |
2_Accounts_Receivable_Tables
2. Accounts Receivable (Tables) | 9 Months Ended | ||||||||
Nov. 03, 2013 | |||||||||
Receivables [Abstract] | ' | ||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | ' | ||||||||
November 3, | February 3, | ||||||||
2013 | 2013 | ||||||||
Trade accounts receivable | $ | 19,886 | $ | 22,712 | |||||
Receivable from factor | 7,741 | 6,809 | |||||||
Allowance for doubtful accounts | (1,082 | ) | (1,249 | ) | |||||
Accounts receivable | $ | 26,545 | $ | 28,272 |
3_Inventories_Tables
3. Inventories (Tables) | 9 Months Ended | ||||||||
Nov. 03, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Schedule of Inventory, Current [Table Text Block] | ' | ||||||||
November 3, | February 3, | ||||||||
2013 | 2013 | ||||||||
Finished furniture | $ | 58,748 | $ | 58,584 | |||||
Furniture in process | 918 | 688 | |||||||
Materials and supplies | 8,435 | 8,478 | |||||||
Inventories at FIFO | 68,101 | 67,750 | |||||||
Reduction to LIFO basis | (19,106 | ) | (17,878 | ) | |||||
Inventories | $ | 48,995 | $ | 49,872 |
4_Property_Plant_and_Equipment1
4. Property, Plant and Equipment (Tables) | 9 Months Ended | ||||||||||||
Nov. 03, 2013 | |||||||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||||||
Depreciable Lives | November 3, | February 3, | |||||||||||
(In years) | 2013 | 2013 | |||||||||||
Buildings and land improvements | 15 | - | 30 | $ | 23,957 | $ | 23,680 | ||||||
Computer software and hardware | 3 | - | 10 | 22,446 | 22,203 | ||||||||
Machinery and equipment | 10 | 4,495 | 3,663 | ||||||||||
Leasehold improvements | Term of lease | 2,763 | 2,698 | ||||||||||
Furniture and fixtures | 3 | - | 8 | 2,180 | 1,989 | ||||||||
Other | 5 | 693 | 703 | ||||||||||
Total depreciable property at cost | 56,534 | 54,936 | |||||||||||
Less accumulated depreciation | 36,258 | 34,559 | |||||||||||
Total depreciable property, net | 20,276 | 20,377 | |||||||||||
Land | 1,152 | 1,152 | |||||||||||
Construction-in-progress | 2,166 | 1,300 | |||||||||||
Property, plant and equipment, net | $ | 23,594 | $ | 22,829 |
5_Intangible_Assets_Tables
5. Intangible Assets (Tables) | 9 Months Ended | ||||||||
Nov. 03, 2013 | |||||||||
Disclosure Text Block [Abstract] | ' | ||||||||
Schedule of Intangible Assets and Goodwill [Table Text Block] | ' | ||||||||
November 3, | February 3, | ||||||||
2013 | 2013 | ||||||||
Non-amortizable Intangible Assets | |||||||||
Trademarks and trade names - Bradington-Young | $ | 861 | $ | 861 | |||||
Trademarks and trade names - Sam Moore | 396 | 396 | |||||||
URL- Homeware.com | 125 | - | |||||||
Total trademarks and tradenames | 1,382 | 1,257 |
7_Employee_Benefit_Plans_Table
7. Employee Benefit Plans (Tables) | 9 Months Ended | ||||||||||||||||
Nov. 03, 2013 | |||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | 'We maintain a supplemental retirement income plan (“SRIP”) for certain former and current executives. The liability for the SRIP at November 3, 2013 and February 3, 2013 was $7.6 million and $7.4 million, respectively, and is shown in our condensed consolidated balance sheets as follows: | ||||||||||||||||
November 3, | February 3, | ||||||||||||||||
2013 | 2013 | ||||||||||||||||
Accrued salaries, wages and benefits (current portion) | $ | 379 | $ | 379 | |||||||||||||
Deferred compensation (long-term portion) | 7,256 | 7,056 | |||||||||||||||
Total liability | $ | 7,635 | $ | 7,435 | |||||||||||||
Schedule of Net Benefit Costs [Table Text Block] | 'Components of net periodic benefit cost for the SRIP are included in our condensed consolidated statements of income under selling and administrative expenses: | ||||||||||||||||
Thirteen Weeks Ended | Thirty-Nine Weeks Ended | ||||||||||||||||
November 3, | October 28, | November 3, | October 28, | ||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Net periodic benefit cost | |||||||||||||||||
Service cost | $ | 64 | $ | 64 | $ | 192 | $ | 191 | |||||||||
Interest cost | 73 | 74 | 219 | 223 | |||||||||||||
Actuarial gain | (26 | ) | (15 | ) | (79 | ) | (44 | ) | |||||||||
Net periodic benefit cost | $ | 111 | $ | 123 | $ | 332 | $ | 370 |
8_Earnings_Per_Share_Tables
8. Earnings Per Share (Tables) | 9 Months Ended | ||||||||||||||||
Nov. 03, 2013 | |||||||||||||||||
8. Earnings Per Share (Tables) [Line Items] | ' | ||||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | 'All restricted shares and RSUs awarded that have not yet vested are considered when computing diluted earnings per share. The following table sets forth the computation of basic and diluted earnings per share: | ||||||||||||||||
Thirteen Weeks Ended | Thirty-Nine Weeks Ended | ||||||||||||||||
November 3, | October 28, | November 3, | October 28, | ||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Net income | $ | 2,116 | $ | 2,434 | $ | 5,930 | $ | 4,928 | |||||||||
Less: Unvested participating restricted stock dividends | 3 | 3 | 9 | 3 | |||||||||||||
Net earnings allocated to unvested participating restricted stock | 6 | - | 16 | - | |||||||||||||
Earnings available for common shareholders | 2,107 | 2,431 | 5,905 | 4,925 | |||||||||||||
Weighted average shares outstanding for basic earnings per share | 10,724 | 10,723 | 10,721 | 10,755 | |||||||||||||
Dilutive effect of unvested restricted stock and RSU awards | 29 | 19 | 27 | 32 | |||||||||||||
Weighted average shares outstanding for diluted earnings per share | 10,753 | 10,742 | 10,748 | 10,787 | |||||||||||||
Basic earnings per share | $ | 0.2 | $ | 0.23 | $ | 0.55 | $ | 0.46 | |||||||||
Diluted earnings per share | $ | 0.2 | $ | 0.23 | $ | 0.55 | $ | 0.46 | |||||||||
Restricted Stock and Restricted Stock Units [Member] | ' | ||||||||||||||||
8. Earnings Per Share (Tables) [Line Items] | ' | ||||||||||||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | 'The following table sets forth the number of outstanding restricted stock awards and RSUs, net of forfeitures and vested shares, as of the fiscal period-end dates indicated: | ||||||||||||||||
November 3, | February 3, | ||||||||||||||||
2013 | 2013 | ||||||||||||||||
Restricted shares | 28,614 | 29,063 | |||||||||||||||
Restricted stock units | 32,353 | 32,353 | |||||||||||||||
60,967 | 61,416 |
10_Segment_Information_Tables
10. Segment Information (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||
Nov. 03, 2013 | |||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | 'Results from our new H Contract and Homeware business initiatives, and the elimination of intercompany sales and profits related to these businesses, are aggregated with the results from our casegoods operating segment. The following table presents segment information for the periods, and as of the dates, indicated: | ||||||||||||||||||||||||||||||||
Thirteen Weeks Ended | Thirty-Nine Weeks Ended | ||||||||||||||||||||||||||||||||
3-Nov-13 | 28-Oct-12 | 3-Nov-13 | 28-Oct-12 | ||||||||||||||||||||||||||||||
% Net | % Net | % Net | % Net | ||||||||||||||||||||||||||||||
Net Sales | Sales | Sales | Sales | Sales | |||||||||||||||||||||||||||||
Casegoods | $ | 37,716 | 63.8 | % | $ | 36,508 | 64.3 | % | $ | 107,996 | 63.3 | % | $ | 101,447 | 63.9 | % | |||||||||||||||||
Upholstery | 21,409 | 36.2 | % | 20,295 | 35.7 | % | 62,725 | 36.7 | % | 57,271 | 36.1 | % | |||||||||||||||||||||
Consolidated | $ | 59,125 | 100 | % | $ | 56,803 | 100 | % | $ | 170,721 | 100 | % | $ | 158,718 | 100 | % | |||||||||||||||||
Gross Profit | |||||||||||||||||||||||||||||||||
Casegoods | $ | 9,620 | 25.5 | % | $ | 9,580 | 26.2 | % | $ | 28,766 | 26.6 | % | $ | 25,154 | 24.8 | % | |||||||||||||||||
Upholstery | 3,978 | 18.6 | % | 3,980 | 19.6 | % | 12,005 | 19.1 | % | 10,593 | 18.5 | % | |||||||||||||||||||||
Consolidated | $ | 13,598 | 23 | % | $ | 13,560 | 23.9 | % | $ | 40,771 | 23.9 | % | $ | 35,747 | 22.5 | % | |||||||||||||||||
Operating Income | |||||||||||||||||||||||||||||||||
Casegoods | $ | 2,612 | 6.9 | % | $ | 3,212 | 8.8 | % | $ | 6,984 | 6.5 | % | $ | 6,960 | 6.9 | % | |||||||||||||||||
Upholstery | 543 | 2.5 | % | 567 | 2.8 | % | 2,045 | 3.3 | % | 669 | 1.2 | % | |||||||||||||||||||||
Consolidated | $ | 3,155 | 5.3 | % | $ | 3,779 | 6.7 | % | $ | 9,029 | 5.3 | % | $ | 7,629 | 4.8 | % | |||||||||||||||||
Depreciation & | |||||||||||||||||||||||||||||||||
Amortization | |||||||||||||||||||||||||||||||||
Casegoods | $ | 388 | $ | 538 | $ | 1,150 | $ | 1,421 | |||||||||||||||||||||||||
Upholstery | 245 | 235 | 668 | 827 | |||||||||||||||||||||||||||||
Consolidated | $ | 633 | $ | 773 | $ | 1,818 | $ | 2,248 | |||||||||||||||||||||||||
Capital Expenditures | |||||||||||||||||||||||||||||||||
Casegoods | $ | 590 | $ | 617 | $ | 1,817 | $ | 2,382 | |||||||||||||||||||||||||
Upholstery | 292 | 298 | 791 | 1,468 | |||||||||||||||||||||||||||||
Consolidated | $ | 882 | $ | 915 | $ | 2,608 | $ | 3,850 | |||||||||||||||||||||||||
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | 'Results from our new H Contract and Homeware business initiatives, and the elimination of intercompany sales and profits related to these businesses, are aggregated with the results from our casegoods operating segment. The following table presents segment information for the periods, and as of the dates, indicated: | ||||||||||||||||||||||||||||||||
As of November 3, 2013 | % Total | As of February 3, 2013 | % Total | ||||||||||||||||||||||||||||||
Total Assets | Assets | Assets | |||||||||||||||||||||||||||||||
Casegoods | $ | 123,656 | 77.9 | % | 124,509 | 79.9 | % | ||||||||||||||||||||||||||
Upholstery | 35,106 | 22.1 | % | 31,314 | 20.1 | % | |||||||||||||||||||||||||||
Consolidated | $ | 158,762 | 100 | 155,823 | 100 | % |
2_Accounts_Receivable_Details
2. Accounts Receivable (Details) (USD $) | Nov. 03, 2013 | Feb. 03, 2013 |
Receivables [Abstract] | ' | ' |
Accounts receivable factor recourse | $315,000 | $130,000 |
2_Accounts_Receivable_Details_
2. Accounts Receivable (Details) - Schedule of Accounts, Notes, Loans and Financing Receivable (USD $) | Nov. 03, 2013 | Feb. 03, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Accounts, Notes, Loans and Financing Receivable [Abstract] | ' | ' |
Trade accounts receivable | $19,886 | $22,712 |
Receivable from factor | 7,741 | 6,809 |
Allowance for doubtful accounts | -1,082 | -1,249 |
Accounts receivable | $26,545 | $28,272 |
3_Inventories_Details_Schedule
3. Inventories (Details) - Schedule of Inventory (USD $) | Nov. 03, 2013 | Feb. 03, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Inventory [Abstract] | ' | ' |
Finished furniture | $58,748 | $58,584 |
Furniture in process | 918 | 688 |
Materials and supplies | 8,435 | 8,478 |
Inventories at FIFO | 68,101 | 67,750 |
Reduction to LIFO basis | -19,106 | -17,878 |
Inventories | $48,995 | $49,872 |
4_Property_Plant_and_Equipment2
4. Property, Plant and Equipment (Details) (USD $) | Nov. 03, 2013 | Feb. 03, 2013 |
In Thousands, unless otherwise specified | ||
4. Property, Plant and Equipment (Details) [Line Items] | ' | ' |
Construction in Progress, Gross | $2,166 | $1,300 |
Ongoing ERP Conversion Efforts [Member] | ' | ' |
4. Property, Plant and Equipment (Details) [Line Items] | ' | ' |
Construction in Progress, Gross | 1,100 | ' |
Various Other Projects [Member] | ' | ' |
4. Property, Plant and Equipment (Details) [Line Items] | ' | ' |
Construction in Progress, Gross | $1,100 | ' |
4_Property_Plant_and_Equipment3
4. Property, Plant and Equipment (Details) - Property, Plant and Equipment (USD $) | Nov. 03, 2013 | Feb. 03, 2013 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Depreciable property at cost | $56,534 | $54,936 |
Less accumulated depreciation | 36,258 | 34,559 |
Total depreciable property, net | 20,276 | 20,377 |
Land | 1,152 | 1,152 |
Construction-in-progress | 2,166 | 1,300 |
Property, plant and equipment, net | 23,594 | 22,829 |
Building and Building Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Depreciable property at cost | 23,957 | 23,680 |
Computer Software and Hardware [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Depreciable property at cost | 22,446 | 22,203 |
Machinery and Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Depreciable property at cost | 4,495 | 3,663 |
Leasehold Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Depreciable property at cost | 2,763 | 2,698 |
Furniture and Fixtures [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Depreciable property at cost | 2,180 | 1,989 |
Property, Plant and Equipment, Other Types [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Depreciable property at cost | $693 | $703 |
4_Property_Plant_and_Equipment4
4. Property, Plant and Equipment (Details) - Property, Plant and Equipment (Parentheticals) | 9 Months Ended |
Nov. 03, 2013 | |
Building and Building Improvements [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depreciable Lives | '15 years |
Building and Building Improvements [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depreciable Lives | '30 years |
Computer Software and Hardware [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depreciable Lives | '3 years |
Computer Software and Hardware [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depreciable Lives | '10 years |
Machinery and Equipment [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depreciable Lives | '10 years |
Machinery and Equipment [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depreciable Lives | '10 years |
Leasehold Improvements [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depreciable Lives | 'Term of lease |
Furniture and Fixtures [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depreciable Lives | '3 years |
Furniture and Fixtures [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depreciable Lives | '8 years |
Property, Plant and Equipment, Other Types [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depreciable Lives | '5 years |
Property, Plant and Equipment, Other Types [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Depreciable Lives | '5 years |
5_Intangible_Assets_Details_Sc
5. Intangible Assets (Details) - Schedule of Intangible Assets (USD $) | Nov. 03, 2013 | Feb. 03, 2013 |
In Thousands, unless otherwise specified | ||
Non-amortizable Intangible Assets | ' | ' |
URL- Homeware.com | $125 | $0 |
Total trademarks and tradenames | 1,382 | 1,257 |
Bradington-Young [Member] | ' | ' |
Non-amortizable Intangible Assets | ' | ' |
Trademarks and trade names | 861 | 861 |
Sam Moore [Member] | ' | ' |
Non-amortizable Intangible Assets | ' | ' |
Trademarks and trade names | $396 | $396 |
6_LongTerm_Debt_Details
6. Long-Term Debt (Details) (USD $) | Nov. 03, 2013 |
In Millions, unless otherwise specified | |
6. Long-Term Debt (Details) [Line Items] | ' |
Line of Credit Facility, Current Borrowing Capacity | $12.90 |
Line of Credit Facility, Maximum Borrowing Capacity | 15 |
Standby Letters of Credit [Member] | ' |
6. Long-Term Debt (Details) [Line Items] | ' |
Line of Credit Facility, Current Borrowing Capacity | $2.10 |
7_Employee_Benefit_Plans_Detai
7. Employee Benefit Plans (Details) - Schedule of Amounts Recognized in Balance Sheets (USD $) | Nov. 03, 2013 | Feb. 03, 2013 |
In Thousands, unless otherwise specified | ||
7. Employee Benefit Plans (Details) - Schedule of Amounts Recognized in Balance Sheets [Line Items] | ' | ' |
Accrued salaries, wages and benefits (current portion) | $3,068 | $3,316 |
Deferred compensation (long-term portion) | 7,851 | 7,311 |
Supplemental Employee Retirement Plan, Defined Benefit [Member] | ' | ' |
7. Employee Benefit Plans (Details) - Schedule of Amounts Recognized in Balance Sheets [Line Items] | ' | ' |
Accrued salaries, wages and benefits (current portion) | 379 | 379 |
Deferred compensation (long-term portion) | 7,256 | 7,056 |
Total liability | $7,635 | $7,435 |
7_Employee_Benefit_Plans_Detai1
7. Employee Benefit Plans (Details) - Schedule of Net Benefit Costs (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 03, 2013 | Oct. 28, 2012 | Nov. 03, 2013 | Oct. 28, 2012 |
Net periodic benefit cost | ' | ' | ' | ' |
Service cost | $64 | $64 | $192 | $191 |
Interest cost | 73 | 74 | 219 | 223 |
Actuarial gain | -26 | -15 | -79 | -44 |
Net periodic benefit cost | $111 | $123 | $332 | $370 |
8_Earnings_Per_Share_Details
8. Earnings Per Share (Details) (Restricted Stock Units (RSUs) [Member]) | 9 Months Ended |
Nov. 03, 2013 | |
Restricted Stock Units (RSUs) [Member] | ' |
8. Earnings Per Share (Details) [Line Items] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award | 'Each RSU entitles the executive to receive one share of the Company's common stock if the executive remains continuously employed with the Company through the end of a three-year service period |
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | '3 years |
8_Earnings_Per_Share_Details_S
8. Earnings Per Share (Details) - Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity | Nov. 03, 2013 | Feb. 03, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Abstract] | ' | ' |
Restricted shares | 28,614 | 29,063 |
Restricted stock units | 32,353 | 32,353 |
60,967 | 61,416 |
8_Earnings_Per_Share_Details_S1
8. Earnings Per Share (Details) - Schedule of Earnings Per Share (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Nov. 03, 2013 | Oct. 28, 2012 | Nov. 03, 2013 | Oct. 28, 2012 |
Schedule of Earnings Per Share [Abstract] | ' | ' | ' | ' |
Net income | $2,116 | $2,434 | $5,930 | $4,928 |
Less: Unvested participating restricted stock dividends | 3 | 3 | 9 | 3 |
Net earnings allocated to unvested participating restricted stock | 6 | 0 | 16 | 0 |
Earnings available for common shareholders | $2,107 | $2,431 | $5,905 | $4,925 |
Weighted average shares outstanding for basic earnings per share (in Shares) | 10,724 | 10,723 | 10,721 | 10,755 |
Dilutive effect of unvested restricted stock and RSU awards (in Shares) | 29 | 19 | 27 | 32 |
Weighted average shares outstanding for diluted earnings per share (in Shares) | 10,753 | 10,742 | 10,748 | 10,787 |
Basic earnings per share (in Dollars per share) | $0.20 | $0.23 | $0.55 | $0.46 |
Diluted earnings per share (in Dollars per share) | $0.20 | $0.23 | $0.55 | $0.46 |
9_Income_Taxes_Details
9. Income Taxes (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Nov. 03, 2013 | Oct. 28, 2012 | Nov. 03, 2013 | Oct. 28, 2012 | |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Income Tax Expense (Benefit) | $1,048,000 | $1,379,000 | $3,054,000 | $2,799,000 |
Effective Income Tax Rate Reconciliation, Percent | 33.10% | 36.20% | 34.00% | 36.20% |
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions | $48,000 | ' | ' | ' |
10_Segment_Information_Details
10. Segment Information (Details) | 9 Months Ended |
Nov. 03, 2013 | |
Segment Reporting [Abstract] | ' |
Number of Operating Segments | 2 |
10_Segment_Information_Details1
10. Segment Information (Details) - Segment Reporting Information (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 03, 2013 | Oct. 28, 2012 | Nov. 03, 2013 | Oct. 28, 2012 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net Sales | $59,125 | $56,803 | $170,721 | $158,718 |
% of Net Sales | 100.00% | 100.00% | 100.00% | 100.00% |
Gross Profit | ' | ' | ' | ' |
Gross Profit & Margin | 13,598 | 13,560 | 40,771 | 35,747 |
% of Gross Profit and Margin | 23.00% | 23.90% | 23.90% | 22.50% |
Operating Income | ' | ' | ' | ' |
Operating Income & Margin | 3,155 | 3,779 | 9,029 | 7,629 |
% of Operating Income & Margin | 5.30% | 6.70% | 5.30% | 4.80% |
Amortization | ' | ' | ' | ' |
Depreciation & Amortization | 633 | 773 | 1,818 | 2,248 |
Capital Expenditures | ' | ' | ' | ' |
Capital Expenditures | 882 | 915 | 2,608 | 3,850 |
Casegoods [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net Sales | 37,716 | 36,508 | 107,996 | 101,447 |
% of Net Sales | 63.80% | 64.30% | 63.30% | 63.90% |
Gross Profit | ' | ' | ' | ' |
Gross Profit & Margin | 9,620 | 9,580 | 28,766 | 25,154 |
% of Gross Profit and Margin | 25.50% | 26.20% | 26.60% | 24.80% |
Operating Income | ' | ' | ' | ' |
Operating Income & Margin | 2,612 | 3,212 | 6,984 | 6,960 |
% of Operating Income & Margin | 6.90% | 8.80% | 6.50% | 6.90% |
Amortization | ' | ' | ' | ' |
Depreciation & Amortization | 388 | 538 | 1,150 | 1,421 |
Capital Expenditures | ' | ' | ' | ' |
Capital Expenditures | 590 | 617 | 1,817 | 2,382 |
Upholstery [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net Sales | 21,409 | 20,295 | 62,725 | 57,271 |
% of Net Sales | 36.20% | 35.70% | 36.70% | 36.10% |
Gross Profit | ' | ' | ' | ' |
Gross Profit & Margin | 3,978 | 3,980 | 12,005 | 10,593 |
% of Gross Profit and Margin | 18.60% | 19.60% | 19.10% | 18.50% |
Operating Income | ' | ' | ' | ' |
Operating Income & Margin | 543 | 567 | 2,045 | 669 |
% of Operating Income & Margin | 2.50% | 2.80% | 3.30% | 1.20% |
Amortization | ' | ' | ' | ' |
Depreciation & Amortization | 245 | 235 | 668 | 827 |
Capital Expenditures | ' | ' | ' | ' |
Capital Expenditures | $292 | $298 | $791 | $1,468 |
10_Segment_Information_Details2
10. Segment Information (Details) - Assets from Segments to Consolidated (USD $) | Nov. 03, 2013 | Feb. 03, 2013 |
In Thousands, unless otherwise specified | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Total Assets (in Dollars) | $158,762 | $155,823 |
% of Total Assets | 100.00% | 100.00% |
Casegoods [Member] | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Total Assets (in Dollars) | 123,656 | 124,509 |
% of Total Assets | 77.90% | 79.90% |
Upholstery [Member] | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Total Assets (in Dollars) | $35,106 | $31,314 |
% of Total Assets | 22.10% | 20.10% |
11_Subsequent_Events_Details
11. Subsequent Events (Details) (USD $) | 3 Months Ended | 9 Months Ended | 0 Months Ended | ||
Nov. 03, 2013 | Oct. 28, 2012 | Nov. 03, 2013 | Oct. 28, 2012 | Nov. 26, 2013 | |
Subsequent Event [Member] | |||||
11. Subsequent Events (Details) [Line Items] | ' | ' | ' | ' | ' |
Dividends Payable, Date Declared | ' | ' | ' | ' | 26-Nov-13 |
Common Stock, Dividends, Per Share, Declared (in Dollars per share) | $0.10 | $0.10 | $0.30 | $0.30 | $0.10 |
Dividends Payable, Date to be Paid | ' | ' | ' | ' | 27-Dec-13 |
Dividends Payable, Date of Record | ' | ' | ' | ' | 12-Dec-13 |