DICK'S Sporting Goods (DKS) 10-Q 26 Nov 19 2019 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Nov. 02, 2019	Nov. 22, 2019
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Nov. 2, 2019
Document Transition Report	false
Entity File Number	001-31463
Entity Registrant Name	DICK’S SPORTING GOODS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	16-1241537
Entity Address, Address Line One	345 Court Street
Entity Address, City or Town	Coraopolis
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	15108
City Area Code	724
Local Phone Number	273-3400
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	DKS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001089063
Current Fiscal Year End Date	--02-01
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		63,595,852
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		24,291,123

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 02, 2019	Nov. 03, 2018	Nov. 02, 2019	Nov. 03, 2018
Income Statement [Abstract]
Net sales	$ 1,962,204	$ 1,857,273	$ 6,142,093	$ 5,944,480
Cost of goods sold, including occupancy and distribution costs	1,381,562	1,333,719	4,320,571	4,201,277
GROSS PROFIT	580,642	523,554	1,821,522	1,743,203
Selling, general and administrative expenses	531,704	468,691	1,539,934	1,434,344
Pre-opening expenses	3,313	1,997	4,887	6,135
INCOME FROM OPERATIONS	45,625	52,866	276,701	302,724
Gain on sale of subsidiaries	(33,779)	0	(33,779)	0
Interest expense	4,278	2,606	12,909	8,312
Other (income) expense	(2,020)	68	(10,340)	(1,233)
INCOME BEFORE INCOME TAXES	77,146	50,192	307,911	295,645
Provision for income taxes	19,562	12,365	80,268	78,336
NET INCOME	$ 57,584	$ 37,827	$ 227,643	$ 217,309
EARNINGS PER COMMON SHARE:
Basic (in dollars per share)	$ 0.68	$ 0.39	$ 2.57	$ 2.20
Diluted (in dollars per share)	$ 0.66	$ 0.39	$ 2.53	$ 2.18
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic (in shares)	85,048	96,677	88,671	98,926
Diluted (in shares)	86,601	97,890	90,130	99,878

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - UNAUDITED - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 02, 2019	Nov. 03, 2018	Nov. 02, 2019	Nov. 03, 2018
Statement of Comprehensive Income [Abstract]
NET INCOME	$ 57,584	$ 37,827	$ 227,643	$ 217,309
OTHER COMPREHENSIVE INCOME (LOSS):
Foreign currency translation adjustment, net of tax	6	2	4	(40)
TOTAL OTHER COMPREHENSIVE INCOME (LOSS)	6	2	4	(40)
COMPREHENSIVE INCOME	$ 57,590	$ 37,829	$ 227,647	$ 217,269

CONSOLIDATED BALANCE SHEETS - U

CONSOLIDATED BALANCE SHEETS - UNAUDITED - USD ($) $ in Thousands	Nov. 02, 2019	Feb. 02, 2019	Nov. 03, 2018
CURRENT ASSETS:
Cash and cash equivalents	$ 87,622	$ 113,653	$ 92,103
Accounts receivable, net	70,463	37,970	57,559
Income taxes receivable	17,122	6,135	10,422
Inventories, net	2,573,250	1,824,696	2,196,777
Prepaid expenses and other current assets	128,458	139,944	138,468
Total current assets	2,876,915	2,122,398	2,495,329
Property and equipment, net	1,436,975	1,565,271	1,578,313
Operating lease assets	2,378,399	0	0
Intangible assets, net	123,855	130,166	131,763
Goodwill	245,857	250,476	250,476
Other assets:
Deferred income taxes	16,033	13,243	11,886
Other	128,965	105,595	115,991
Total other assets	144,998	118,838	127,877
TOTAL ASSETS	7,206,999	4,187,149	4,583,758
CURRENT LIABILITIES:
Accounts payable	1,097,564	889,908	1,028,234
Accrued expenses	379,774	364,342	350,737
Operating lease liabilities	417,912	0	0
Income taxes payable	2,519	20,142	2,078
Deferred revenue and other liabilities	183,876	230,247	173,032
Total current liabilities	2,081,645	1,504,639	1,554,081
LONG-TERM LIABILITIES:
Revolving credit borrowings	719,300	0	382,300
Long-term operating lease liabilities	2,509,866	0	0
Deferred income taxes	8,530	11,776	14,951
Other long-term liabilities	178,756	766,573	785,384
Total long-term liabilities	3,416,452	778,349	1,182,635
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Additional paid-in capital	1,240,864	1,214,287	1,204,293
Retained earnings	2,599,495	2,455,192	2,374,336
Accumulated other comprehensive loss	(116)	(120)	(118)
Treasury stock, at cost	(2,132,181)	(1,766,136)	(1,732,417)
Total stockholders' equity	1,708,902	1,904,161	1,847,042
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	7,206,999	4,187,149	4,583,758
Common Stock
STOCKHOLDERS' EQUITY:
Common stock	597	693	703
Class B Common Stock
STOCKHOLDERS' EQUITY:
Common stock	$ 243	$ 245	$ 245

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - UNAUDITED - USD ($) $ in Thousands	Total	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock	Common StockCommon Stock	Common StockClass B Common Stock
BALANCE at Feb. 03, 2018	$ 1,941,501	$ 1,177,778	$ 2,205,651	$ (78)	$ (1,442,880)	$ 783	$ 247
BALANCE (in shares) at Feb. 03, 2018						78,317,898	24,710,870
Increase (Decrease) in Stockholders' Equity
Adjustment for cumulative effect from change in accounting principle | ASU 2014-09	20,488		20,488
Exchange of Class B common stock for common stock	0					$ 1	$ (1)
Exchange of Class B common stock for common stock (in shares)						119,912	(119,912)
Restricted stock vested	0	(4)				$ 4
Restricted stock vested (in shares)						399,604
Minimum tax withholding requirements	(3,919)	(3,918)				$ (1)
Minimum tax withholding requirements (in shares)						(118,707)
Net income	60,085		60,085
Stock-based compensation	11,666	11,666
Foreign currency translation adjustment, net of tax	(22)			(22)
Purchase of shares for treasury	(107,917)				(107,884)	$ (33)
Purchase of shares for treasury (in shares)						(3,338,000)
Cash dividends declared	(23,672)		(23,672)
BALANCE at May. 05, 2018	1,898,210	1,185,522	2,262,552	(100)	(1,550,764)	$ 754	$ 246
BALANCE (in shares) at May. 05, 2018						75,380,707	24,590,958
BALANCE at Feb. 03, 2018	1,941,501	1,177,778	2,205,651	(78)	(1,442,880)	$ 783	$ 247
BALANCE (in shares) at Feb. 03, 2018						78,317,898	24,710,870
Increase (Decrease) in Stockholders' Equity
Net income	217,309
Foreign currency translation adjustment, net of tax	(40)
BALANCE at Nov. 03, 2018	1,847,042	1,204,293	2,374,336	(118)	(1,732,417)	$ 703	$ 245
BALANCE (in shares) at Nov. 03, 2018						70,249,807	24,541,123
BALANCE at May. 05, 2018	1,898,210	1,185,522	2,262,552	(100)	(1,550,764)	$ 754	$ 246
BALANCE (in shares) at May. 05, 2018						75,380,707	24,590,958
Increase (Decrease) in Stockholders' Equity
Exchange of Class B common stock for common stock	0					$ 1	$ (1)
Exchange of Class B common stock for common stock (in shares)						49,835	(49,835)
Restricted stock vested	0	0				$ 0
Restricted stock vested (in shares)						8,398
Minimum tax withholding requirements	(87)	(87)				$ 0
Minimum tax withholding requirements (in shares)						(2,437)
Net income	119,397		119,397
Stock-based compensation	10,440	10,440
Foreign currency translation adjustment, net of tax	(20)			(20)
Purchase of shares for treasury	(73,789)				(73,766)	$ (23)
Purchase of shares for treasury (in shares)						(2,218,200)
Cash dividends declared	(22,925)		(22,925)
BALANCE at Aug. 04, 2018	1,931,226	1,195,875	2,359,024	(120)	(1,624,530)	$ 732	$ 245
BALANCE (in shares) at Aug. 04, 2018						73,218,303	24,541,123
Increase (Decrease) in Stockholders' Equity
Restricted stock vested	0	(1)				$ 1
Restricted stock vested (in shares)						124,249
Minimum tax withholding requirements	(1,258)	(1,258)				$ 0
Minimum tax withholding requirements (in shares)						(34,574)
Net income	37,827		37,827
Stock-based compensation	9,677	9,677
Foreign currency translation adjustment, net of tax	2			2
Purchase of shares for treasury	(107,917)				(107,887)	$ (30)
Purchase of shares for treasury (in shares)						(3,058,171)
Cash dividends declared	(22,515)		(22,515)
BALANCE at Nov. 03, 2018	1,847,042	1,204,293	2,374,336	(118)	(1,732,417)	$ 703	$ 245
BALANCE (in shares) at Nov. 03, 2018						70,249,807	24,541,123
BALANCE at Feb. 02, 2019	1,904,161	1,214,287	2,455,192	(120)	(1,766,136)	$ 693	$ 245
BALANCE (in shares) at Feb. 02, 2019						69,304,874	24,541,123
Increase (Decrease) in Stockholders' Equity
Adjustment for cumulative effect from change in accounting principle | ASU 2016-02	(7,953)		(7,953)
Exchange of Class B common stock for common stock	0					$ 0	$ 0
Exchange of Class B common stock for common stock (in shares)						50,000	(50,000)
Exercise of stock options	213	213				$ 0
Exercise of stock options (in shares)						6,388
Restricted stock vested	0	(6)				$ 6
Restricted stock vested (in shares)						520,095
Minimum tax withholding requirements	(5,859)	(5,858)				$ (1)
Minimum tax withholding requirements (in shares)						(158,021)
Net income	57,525		57,525
Stock-based compensation	11,907	11,907
Foreign currency translation adjustment, net of tax	(19)			(19)
Purchase of shares for treasury	(107,305)				(107,275)	$ (30)
Purchase of shares for treasury (in shares)						(2,968,198)
Cash dividends declared	(26,635)		(26,635)
BALANCE at May. 04, 2019	1,826,035	1,220,543	2,478,129	(139)	(1,873,411)	$ 668	$ 245
BALANCE (in shares) at May. 04, 2019						66,755,138	24,491,123
BALANCE at Feb. 02, 2019	1,904,161	1,214,287	2,455,192	(120)	(1,766,136)	$ 693	$ 245
BALANCE (in shares) at Feb. 02, 2019						69,304,874	24,541,123
Increase (Decrease) in Stockholders' Equity
Net income	227,643
Foreign currency translation adjustment, net of tax	4
BALANCE at Nov. 02, 2019	1,708,902	1,240,864	2,599,495	(116)	(2,132,181)	$ 597	$ 243
BALANCE (in shares) at Nov. 02, 2019						59,676,854	24,291,123
BALANCE at May. 04, 2019	1,826,035	1,220,543	2,478,129	(139)	(1,873,411)	$ 668	$ 245
BALANCE (in shares) at May. 04, 2019						66,755,138	24,491,123
Increase (Decrease) in Stockholders' Equity
Exercise of stock options	60	60				$ 0
Exercise of stock options (in shares)						2,001
Restricted stock vested	0	0				$ 0
Restricted stock vested (in shares)						20,920
Minimum tax withholding requirements	(453)	(453)				$ 0
Minimum tax withholding requirements (in shares)						(6,809)
Net income	112,534		112,534
Stock-based compensation	11,175	11,175
Foreign currency translation adjustment, net of tax	17			17
Purchase of shares for treasury	(159,319)				(159,274)	$ (45)
Purchase of shares for treasury (in shares)						(4,485,903)
Cash dividends declared	(24,963)		(24,963)
BALANCE at Aug. 03, 2019	1,765,086	1,231,325	2,565,700	(122)	(2,032,685)	$ 623	$ 245
BALANCE (in shares) at Aug. 03, 2019						62,285,347	24,491,123
Increase (Decrease) in Stockholders' Equity
Exchange of Class B common stock for common stock	0					$ 2	$ (2)
Exchange of Class B common stock for common stock (in shares)						200,000	(200,000)
Exercise of stock options	887	887				$ 0
Exercise of stock options (in shares)						28,875
Restricted stock vested	0	0				$ 0
Restricted stock vested (in shares)						1,055
Minimum tax withholding requirements	(8)	(8)				$ 0
Minimum tax withholding requirements (in shares)						(232)
Net income	57,584		57,584
Stock-based compensation	8,660	8,660
Foreign currency translation adjustment, net of tax	6			6
Purchase of shares for treasury	(99,524)				(99,496)	$ (28)
Purchase of shares for treasury (in shares)						(2,838,191)
Cash dividends declared	(23,789)		(23,789)
BALANCE at Nov. 02, 2019	$ 1,708,902	$ 1,240,864	$ 2,599,495	$ (116)	$ (2,132,181)	$ 597	$ 243
BALANCE (in shares) at Nov. 02, 2019						59,676,854	24,291,123

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - UNAUDITED (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Nov. 02, 2019	Aug. 03, 2019	May 04, 2019	Nov. 03, 2018	Aug. 04, 2018	May 05, 2018
Statement of Stockholders' Equity [Abstract]
Foreign currency translation adjustment, taxes	$ (2)	$ (5)	$ 6	$ 0	$ 6	$ 7
Cash dividends declared per share (in dollars per share)	$ 0.275	$ 0.275	$ 0.275	$ 0.225	$ 0.225	$ 0.225

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($) $ in Thousands	9 Months Ended
	Nov. 02, 2019	Nov. 03, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 227,643	$ 217,309
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation, amortization, and other	201,152	179,437
Deferred income taxes	(3,438)	(726)
Stock-based compensation	31,742	31,783
Gain on sale of subsidiaries	(33,779)	0
Changes in assets and liabilities:
Accounts receivable	(22,636)	(7,218)
Inventories	(758,016)	(466,212)
Prepaid expenses and other assets	3,822	7,950
Accounts payable	168,259	234,859
Accrued expenses	11,424	11,152
Income taxes payable / receivable	(28,610)	(14,387)
Deferred construction allowances	25,598	23,440
Deferred revenue and other liabilities	(35,936)	(56,859)
Net cash (used in) provided by operating activities	(212,775)	160,528
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(165,703)	(135,288)
Proceeds from sale of subsidiaries, net of cash sold	40,387	0
Proceeds from sale of other assets	4,103	0
Deposits and purchases of other assets	(1,000)	0
Net cash used in investing activities	(122,213)	(135,288)
CASH FLOWS FROM FINANCING ACTIVITIES:
Revolving credit borrowings	1,778,750	1,723,500
Revolving credit repayments	(1,059,450)	(1,341,200)
Payments on other long-term debt and finance lease obligations	(3,965)	(3,924)
Construction allowance receipts	0	0
Proceeds from exercise of stock options	1,160	0
Minimum tax withholding requirements	(6,320)	(5,264)
Cash paid for treasury stock	(366,148)	(289,623)
Cash dividends paid to stockholders	(74,540)	(68,139)
Increase (decrease) in bank overdraft	39,466	(49,700)
Net cash provided by (used in) financing activities	308,953	(34,350)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	4	(40)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(26,031)	(9,150)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	113,653	101,253
CASH AND CASH EQUIVALENTS, END OF PERIOD	87,622	92,103
Supplemental disclosure of cash flow information:
Accrued property and equipment	22,905	14,308
Cash paid for interest	12,427	7,185
Cash paid for income taxes	$ 112,458	$ 97,407

Description of Business and Bas

Description of Business and Basis of Presentation	9 Months Ended
	Nov. 02, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation Dick’s Sporting Goods, Inc. (together with its subsidiaries, referred to as “the Company”, “we”, “us” and “our” unless specified otherwise) is a leading omni-channel sporting goods retailer offering an extensive assortment of authentic, high-quality sports equipment, apparel, footwear and accessories through our dedicated associates, in-store services and unique specialty shop-in-shops. The Company also owns and operates Golf Galaxy and Field & Stream stores, as well as GameChanger, a youth sports mobile app for scheduling, communications and live scorekeeping. The Company offers its products through a content-rich eCommerce platform that is integrated with its store network and provides customers with the convenience and expertise of a 24-hour storefront. When used in this Quarterly Report on Form 10-Q, unless the context otherwise requires or otherwise specifies, any reference to “year” is to the Company’s fiscal year. Basis of Presentation and Use of Estimates The accompanying unaudited consolidated financial statements have been prepared in accordance with the requirements for Quarterly Reports on Form 10-Q and do not include all the disclosures normally required in annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The interim consolidated financial statements are unaudited and have been prepared on the same basis as the annual audited consolidated financial statements. In the opinion of management, such unaudited consolidated financial statements include all adjustments (consisting only of normal recurring adjustments) necessary for a fair presentation of the interim financial information. The unaudited interim financial information should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended February 2, 2019 as filed with the Securities and Exchange Commission on March 29, 2019 . Operating results for the 13 and 39 weeks ended November 2, 2019 are not necessarily indicative of the results that may be expected for the fiscal year ending February 1, 2020 or any other period. Reclassifications Certain reclassifications have been made to prior year amounts within the unaudited Consolidated Balance Sheets and Statements of Cash Flows to conform to the current year presentation. Recently Adopted Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842), which required an entity to recognize lease assets and lease liabilities on the balance sheet and to disclose key information about an entity’s leasing arrangements. ASU 2016-02 was effective for annual reporting periods, and interim periods therein, beginning after December 15, 2018. In July 2018, the FASB issued ASU 2018-10, Codification Improvements to Topic 842, Leases, and ASU 2018-11, Leases (Topic 842), Targeted Improvements, which affected certain aspects of the previously issued guidance. Amendments included an additional transition option that allowed entities to apply the new standard on the adoption date and recognize a cumulative effect adjustment to the opening balance of retained earnings, as well as a new practical expedient for lessors. The effective date and transition requirements for ASU 2018-10 and ASU 2018-11 are the same as ASU 2016-02. On February 3, 2019, the Company adopted ASU 2016-02 and all related amendments using the optional transition method and elected the package of practical expedients permitted under the transition guidance within the new standard. Such election allowed the Company to not reassess whether any expired or existing contracts are or contain leases, not to reassess the lease classification for any expired or existing leases, and not to reassess initial direct costs for any existing leases. The Company also elected the practical expedient related to land easements. The Company did not elect the practical expedient of hindsight when determining the lease term of existing contracts at the effective date. The Company has lease agreements with non-lease components that relate to the lease components and elected the practical expedient to account for non-lease components, and the lease components to which they relate, as a single lease component for all classes of underlying assets. The Company also elected to keep short-term leases with an initial term of 12 months or less off the Consolidated Balance Sheet. Adoption of these standards did not materially affect our consolidated net income or cash flows, but resulted in recognition of lease assets of $2.5 billion and lease liabilities of $3.1 billion as of February 3, 2019. In connection with the adoption, pre-existing liabilities for deferred rent and various lease incentives were reclassified as a component of the lease assets. Accordingly, the Company recorded an $8.0 million adjustment to opening retained earnings, primarily resulting from the impairment of lease assets recognized at adoption. Refer to Note 5 to the unaudited Consolidated Financial Statements for additional information.

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	Nov. 02, 2019
Earnings Per Share [Abstract]
Earnings Per Common Share	Earnings Per Common Share Basic earnings per common share is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings per common share is computed based on the weighted average number of shares of common stock outstanding, plus the effect of dilutive potential common shares outstanding during the period, using the treasury stock method. Dilutive potential common shares are stock-based awards, which include outstanding stock options, restricted stock and warrants. The computations for basic and diluted earnings per common share were as follows for the periods presented ( in thousands, except per share data ): 13 Weeks Ended 39 Weeks Ended November 2, November 3, November 2, November 3, Net income $ 57,584 $ 37,827 $ 227,643 $ 217,309 Weighted average common shares outstanding - basic 85,048 96,677 88,671 98,926 Dilutive effect of stock-based awards 1,553 1,213 1,459 952 Weighted average common shares outstanding - diluted 86,601 97,890 90,130 99,878 Earnings per common share - basic $ 0.68 $ 0.39 $ 2.57 $ 2.20 Earnings per common share - diluted $ 0.66 $ 0.39 $ 2.53 $ 2.18 Anti-dilutive stock-based awards excluded from diluted calculation 3,234 3,065 3,208 3,672

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Nov. 02, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Accounting Standard Codification (“ASC”) 820, Fair Value Measurement and Disclosures , outlines a valuation framework and creates a fair value hierarchy for assets and liabilities as follows: Level 1: Observable inputs such as quoted prices in active markets; Level 2: Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. Assets measured at fair value on a recurring basis are set forth in the table below ( in thousands ): Level 1 November 2, February 2, Assets: Deferred compensation plan assets held in trust (1) $ 95,799 $ 77,324 Total assets $ 95,799 $ 77,324 (1) Consists of investments in various mutual funds made by eligible individuals as part of the Company’s deferred compensation plans. The fair value of cash and cash equivalents, accounts receivable, accounts payable, revolving credit borrowings and certain other liabilities approximated book value due to the short-term nature of these instruments at both November 2, 2019 and February 2, 2019 .

Revenue Recognition

Revenue Recognition	9 Months Ended
	Nov. 02, 2019
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Revenue is recognized upon satisfaction of all contractual performance obligations and transfer of control to the customer and is measured as the amount of consideration to which the Company expects to be entitled in exchange for corresponding goods or services. Substantially all of the Company’s sales are single performance obligation arrangements for retail sale transactions for which the transaction price is equivalent to the stated price of the product or service, net of any stated discounts applicable at a point in time. Each sales transaction results in an implicit contract with the customer to deliver a product or service at the point of sale. Revenue from retail sales is recognized at the point of sale, net of sales tax. Sales tax amounts collected from customers that are assessed by a governmental authority are excluded from revenue. Revenue from eCommerce sales, including vendor-direct sales arrangements, is recognized upon shipment of merchandise. The Company has elected to treat shipping and handling activities occurring subsequent to the transfer of control to the customer to be accounted for as fulfillment costs. A provision for anticipated merchandise returns is provided through a reduction of sales and cost of goods sold in the period that the related sales are recorded. Deferred gift card revenue Revenue from gift cards and returned merchandise credits (collectively the “cards”) is deferred and recognized upon the redemption of the cards. The Company’s gift card liability was $121.9 million and $156.5 million as of November 2, 2019 and February 2, 2019, respectively. During the 39 weeks ended November 2, 2019 and November 3, 2018, the Company recognized $6.5 million and $5.1 million of gift card breakage revenue, respectively, and experienced approximately $72.4 million and $72.7 million of gift card redemptions that were included in its gift card liability as of February 2, 2019 and February 3, 2018, respectively. Based on the Company’s historical experience, the vast majority of gift card revenue is recognized within 12 months of deferral. Customer loyalty program Loyalty program points are accrued at the estimated retail value per point, net of estimated breakage. The Company estimates the breakage of loyalty points based on historical redemption rates experienced within the loyalty program, for which the estimated liability was $27.9 million and $32.4 million , as of November 2, 2019 and February 2, 2019, respectively. During the 39 weeks ended November 2, 2019 and November 3, 2018, the Company recognized approximately $23.3 million and $26.2 million , respectively, of revenue that was included in the customer loyalty program liability as of February 2, 2019 and February 3, 2018, respectively. Based on the Company’s customer loyalty program policies, the vast majority of program points earned are redeemed or expire within 12 months. Net Sales by Category The following table disaggregates the amount of net sales attributable to hardlines, apparel and footwear for the periods presented (in thousands) : 13 Weeks Ended 39 Weeks Ended November 2, November 3, November 2, November 3, Hardlines (1) $ 800,489 $ 771,109 $ 2,763,156 $ 2,742,243 Apparel 684,072 643,301 1,940,237 1,835,844 Footwear 448,616 412,758 1,329,782 1,266,854 Other (2) 29,027 30,105 108,918 99,539 Total net sales $ 1,962,204 $ 1,857,273 $ 6,142,093 $ 5,944,480 (1) Includes items such as sporting goods equipment, fitness equipment, golf equipment and hunting and fishing gear. (2) Includes the Company’s non-merchandise sales categories, including in-store services, shipping revenues and credit card processing revenues.

Leases

Leases	9 Months Ended
	Nov. 02, 2019
Leases, Operating [Abstract]
Leases	Leases The Company leases all of its stores, three of its distribution centers and certain equipment under non-cancellable operating leases that expire at various dates through 2033. The Company’s stores generally have initial lease terms of 10 to 15 years and contain multiple five-year renewal options and rent escalation provisions. The lease agreements provide primarily for the payment of minimum annual rentals, costs of utilities, property taxes, maintenance, common areas and insurance. The Company determines whether a contract is or contains a lease at contract inception. Beginning in fiscal 2019, operating lease assets and operating lease liabilities are recognized at commencement date based on the present value of remaining fixed lease payments over the lease term. As the rate implicit in the lease is not readily determinable in most of the Company’s leases, the Company uses its incremental borrowing rate based on the information available at a lease’s commencement date to determine the present value of lease payments. The Company’s incremental borrowing rate for a lease is the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. The operating lease asset also includes any fixed lease payments made and includes lease incentives and incurred initial direct costs. Operating lease expense for fixed lease payments is recognized on a straight-line basis over the lease term. Variable lease payments are generally expensed as incurred and may include certain index-based changes in rent and other non-fixed payments for services provided by the lessor. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. The Company’s leases do not contain any material residual guarantees or material restrictive covenants. The components of lease cost for the 13 and 39 weeks ended November 2, 2019 were as follows (in thousands) : 13 Weeks Ended 39 Weeks Ended November 2, November 2, Operating lease cost $ 147,847 $ 443,117 Short-term lease cost 2,121 5,125 Variable lease cost 30,168 89,599 Sublease income (1,180 ) (2,809 ) Total lease cost $ 178,956 $ 535,032 Supplemental cash flow information related to operating leases for the 39 weeks ended November 2, 2019 were as follows ( in thousands ): Cash paid for amounts included in the measurement of operating lease liabilities $ 491,487 Non-cash operating lease assets and liabilities obtained in exchange for new or modified leases $ 174,190 Supplemental balance sheet information related to operating leases as of November 2, 2019 were as follows: Weighted average remaining lease term for operating leases 6.78 years Weighted average discount rate for operating leases 6.68 % Future maturities of operating lease liabilities as of November 2, 2019 were as follows ( in thousands ): Fiscal Year Remainder of fiscal 2019 $ 164,583 2020 651,035 2021 616,415 2022 557,709 2023 477,952 2024 381,572 Thereafter 797,059 Total future undiscounted lease payments 3,646,325 Less imputed interest (718,547 ) Total reported lease liability $ 2,927,778 As of November 2, 2019 , the Company has entered into operating leases of approximately $148.8 million that have not yet commenced, primarily related to future store locations. Total future minimum rentals under non-cancellable subleases at November 2, 2019 were $58.9 million . Disclosures related to periods prior to adoption of Leases (Topic 842) Future minimum payments determined under the previous accounting standards for operating lease obligations, including committed leases that had not yet commenced, were as follows as of February 2, 2019 ( in thousands ): Fiscal Year 2019 $ 655,516 2020 619,189 2021 558,633 2022 475,830 2023 392,826 Thereafter 1,033,034 Total $ 3,735,028 Rent expense under these operating leases totaled $133.5 million and $398.1 million for the 13 and 39 weeks ended November 3, 2018, respectively.

Debt

Debt	9 Months Ended
	Nov. 02, 2019
Debt Disclosure [Abstract]
Debt	Debt On June 28, 2019, the Company amended its existing $1.25 billion senior secured revolving credit facility to extend the maturity date to June 28, 2024 and increase the borrowing capacity to $1.6 billion , including providing for up to $150.0 million in the form of letters of credit (the “Credit Facility”). The Credit Facility allows the Company, upon the satisfaction of certain conditions, to request an increase of up to $500.0 million in borrowing availability, subject to existing or new lenders agreeing to provide such additional revolving commitments. The Credit Facility is secured by a first priority security interest in certain property and assets, including receivables, inventory, deposit accounts, securities accounts and other personal property of the Company and is guaranteed by the Company’s domestic subsidiaries. The annual interest rates applicable to loans under the Credit Facility are, at the Company’s option, equal to a base rate or an adjusted LIBOR rate plus, in each case, an applicable margin percentage. The applicable margin percentage for base rate loans is 0.125% to 0.375% and for adjusted LIBOR rate loans is 1.125% to 1.375% , depending on the Company’s borrowing availability. As of November 2, 2019 and February 2, 2019, total remaining borrowing capacity, after subtracting letters of credit, was $864.6 million and $1,233.9 million , respectively. The Credit Facility contains a covenant that requires the Company to maintain a minimum adjusted availability of 7.5% of its borrowing base. The Credit Facility also contains certain covenants that could, within specific predefined circumstances, limit the Company’s ability to, among other things: incur or guarantee additional indebtedness; pay distributions on, redeem or repurchase capital stock; redeem or repurchase subordinated debt; make certain investments; sell assets; or consolidate, merge or transfer all or substantially all of the Company’s assets. Other than in certain limited conditions, the Company is permitted under the Credit Facility to continue to pay dividends and repurchase shares pursuant to its stock repurchase program.

Sale of Subsidiaries

Sale of Subsidiaries	9 Months Ended
	Nov. 02, 2019
Disposal Group [Abstract]
Sale of Subsidiaries	Sale of Subsidiaries On August 22, 2019, the Company sold two of its technology subsidiaries, Blue Sombrero and Affinity Sports, to Stack Sports for $45.0 million , or proceeds of $40.4 million , net of cash sold. In connection with the sale, the Company entered into a long-term strategic partnership agreement pursuant to which it will serve as the official retailer of Stack Sports. Stack Sports has no affiliation with Edward W. Stack, the Company's Chairman and Chief Executive Officer. The sale resulted in a pre-tax gain of $33.8 million , which is included in gain on sale of subsidiaries in the unaudited Consolidated Statements of Income.

Subsequent Event

Subsequent Event	9 Months Ended
	Nov. 02, 2019
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event On November 21, 2019 , the Company’s Board of Directors authorized and declared a quarterly cash dividend in the amount of $0.275 per share on the Company’s common stock and Class B common stock payable on December 31, 2019 to stockholders of record as of the close of business on December 13, 2019 .

Description of Business and B_2

Description of Business and Basis of Presentation (Policies)	9 Months Ended
	Nov. 02, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842), which required an entity to recognize lease assets and lease liabilities on the balance sheet and to disclose key information about an entity’s leasing arrangements. ASU 2016-02 was effective for annual reporting periods, and interim periods therein, beginning after December 15, 2018. In July 2018, the FASB issued ASU 2018-10, Codification Improvements to Topic 842, Leases, and ASU 2018-11, Leases (Topic 842), Targeted Improvements, which affected certain aspects of the previously issued guidance. Amendments included an additional transition option that allowed entities to apply the new standard on the adoption date and recognize a cumulative effect adjustment to the opening balance of retained earnings, as well as a new practical expedient for lessors. The effective date and transition requirements for ASU 2018-10 and ASU 2018-11 are the same as ASU 2016-02. On February 3, 2019, the Company adopted ASU 2016-02 and all related amendments using the optional transition method and elected the package of practical expedients permitted under the transition guidance within the new standard. Such election allowed the Company to not reassess whether any expired or existing contracts are or contain leases, not to reassess the lease classification for any expired or existing leases, and not to reassess initial direct costs for any existing leases. The Company also elected the practical expedient related to land easements. The Company did not elect the practical expedient of hindsight when determining the lease term of existing contracts at the effective date. The Company has lease agreements with non-lease components that relate to the lease components and elected the practical expedient to account for non-lease components, and the lease components to which they relate, as a single lease component for all classes of underlying assets. The Company also elected to keep short-term leases with an initial term of 12 months or less off the Consolidated Balance Sheet. Adoption of these standards did not materially affect our consolidated net income or cash flows, but resulted in recognition of lease assets of $2.5 billion and lease liabilities of $3.1 billion as of February 3, 2019. In connection with the adoption, pre-existing liabilities for deferred rent and various lease incentives were reclassified as a component of the lease assets. Accordingly, the Company recorded an $8.0 million adjustment to opening retained earnings, primarily resulting from the impairment of lease assets recognized at adoption. Refer to Note 5 to the unaudited Consolidated Financial Statements for additional information.

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Nov. 02, 2019
Earnings Per Share [Abstract]
Schedule of the computations for basic and diluted earnings per common share	The computations for basic and diluted earnings per common share were as follows for the periods presented ( in thousands, except per share data ): 13 Weeks Ended 39 Weeks Ended November 2, November 3, November 2, November 3, Net income $ 57,584 $ 37,827 $ 227,643 $ 217,309 Weighted average common shares outstanding - basic 85,048 96,677 88,671 98,926 Dilutive effect of stock-based awards 1,553 1,213 1,459 952 Weighted average common shares outstanding - diluted 86,601 97,890 90,130 99,878 Earnings per common share - basic $ 0.68 $ 0.39 $ 2.57 $ 2.20 Earnings per common share - diluted $ 0.66 $ 0.39 $ 2.53 $ 2.18 Anti-dilutive stock-based awards excluded from diluted calculation 3,234 3,065 3,208 3,672

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Nov. 02, 2019
Fair Value Disclosures [Abstract]
Schedule of assets measured at fair value on a recurring basis	Assets measured at fair value on a recurring basis are set forth in the table below ( in thousands ): Level 1 November 2, February 2, Assets: Deferred compensation plan assets held in trust (1) $ 95,799 $ 77,324 Total assets $ 95,799 $ 77,324 (1)

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Nov. 02, 2019
Revenue from Contract with Customer [Abstract]
Schedule of net sales attributable to hardlines, apparel and footwear	The following table disaggregates the amount of net sales attributable to hardlines, apparel and footwear for the periods presented (in thousands) : 13 Weeks Ended 39 Weeks Ended November 2, November 3, November 2, November 3, Hardlines (1) $ 800,489 $ 771,109 $ 2,763,156 $ 2,742,243 Apparel 684,072 643,301 1,940,237 1,835,844 Footwear 448,616 412,758 1,329,782 1,266,854 Other (2) 29,027 30,105 108,918 99,539 Total net sales $ 1,962,204 $ 1,857,273 $ 6,142,093 $ 5,944,480 (1) Includes items such as sporting goods equipment, fitness equipment, golf equipment and hunting and fishing gear. (2) Includes the Company’s non-merchandise sales categories, including in-store services, shipping revenues and credit card processing revenues.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Nov. 02, 2019
Leases, Operating [Abstract]
Components of lease cost	The components of lease cost for the 13 and 39 weeks ended November 2, 2019 were as follows (in thousands) : 13 Weeks Ended 39 Weeks Ended November 2, November 2, Operating lease cost $ 147,847 $ 443,117 Short-term lease cost 2,121 5,125 Variable lease cost 30,168 89,599 Sublease income (1,180 ) (2,809 ) Total lease cost $ 178,956 $ 535,032
Other information related to operating leases	Supplemental cash flow information related to operating leases for the 39 weeks ended November 2, 2019 were as follows ( in thousands ): Cash paid for amounts included in the measurement of operating lease liabilities $ 491,487 Non-cash operating lease assets and liabilities obtained in exchange for new or modified leases $ 174,190 Supplemental balance sheet information related to operating leases as of November 2, 2019 were as follows: Weighted average remaining lease term for operating leases 6.78 years Weighted average discount rate for operating leases 6.68 %
Schedule of future maturities of operating lease liabilities determined under Topic 842	Future maturities of operating lease liabilities as of November 2, 2019 were as follows ( in thousands ): Fiscal Year Remainder of fiscal 2019 $ 164,583 2020 651,035 2021 616,415 2022 557,709 2023 477,952 2024 381,572 Thereafter 797,059 Total future undiscounted lease payments 3,646,325 Less imputed interest (718,547 ) Total reported lease liability $ 2,927,778
Schedule of future minimum payments determined under Topic 840 for operating lease obligations, including committed leases that had not yet commenced	Future minimum payments determined under the previous accounting standards for operating lease obligations, including committed leases that had not yet commenced, were as follows as of February 2, 2019 ( in thousands ): Fiscal Year 2019 $ 655,516 2020 619,189 2021 558,633 2022 475,830 2023 392,826 Thereafter 1,033,034 Total $ 3,735,028

Description of Business and B_3

Description of Business and Basis of Presentation - New Accounting Pronouncements or Change in Accounting Principle (Details) - USD ($) $ in Thousands	Nov. 02, 2019	Feb. 03, 2019	Feb. 02, 2019	Nov. 03, 2018
New Accounting Pronouncements or Change in Accounting Principle
Operating lease assets	$ 2,378,399		$ 0	$ 0
Operating lease liabilities	$ 2,927,778
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle
Operating lease assets		$ 2,500,000
Operating lease liabilities		3,100,000
Cumulative effect of new accounting principle in period of adoption		$ (8,000)

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Nov. 02, 2019	Aug. 03, 2019	May 04, 2019	Nov. 03, 2018	Aug. 04, 2018	May 05, 2018	Nov. 02, 2019	Nov. 03, 2018
Earnings Per Share [Abstract]
Net income	$ 57,584	$ 112,534	$ 57,525	$ 37,827	$ 119,397	$ 60,085	$ 227,643	$ 217,309
Weighted average common shares outstanding - basic	85,048			96,677			88,671	98,926
Dilutive effect of stock-based awards (in shares)	1,553			1,213			1,459	952
Weighted average common shares outstanding - diluted	86,601			97,890			90,130	99,878
Earnings per common share - basic (in dollars per share)	$ 0.68			$ 0.39			$ 2.57	$ 2.20
Earnings per common share - diluted (in dollars per share)	$ 0.66			$ 0.39			$ 2.53	$ 2.18
Anti-dilutive stock-based awards excluded from diluted calculation (in shares)	3,234			3,065			3,208	3,672

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Level 1 - USD ($) $ in Thousands	Nov. 02, 2019	Feb. 02, 2019
Fair Value Measurements
Deferred compensation plan assets held in trust	$ 95,799	$ 77,324
Total assets	$ 95,799	$ 77,324

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Millions	9 Months Ended
	Nov. 02, 2019	Nov. 03, 2018	Feb. 02, 2019
Revenue Recognition
Deferred gift card revenue contract liability	$ 121.9		$ 156.5
Customer loyalty program contract liability	27.9		$ 32.4
Customer loyalty redemption revenue
Revenue Recognition
Revenue recognized from contract liability at beginning of period	$ 23.3	$ 26.2
Expected timing of performance obligation satisfaction	1 year
Gift card breakage revenue
Revenue Recognition
Revenue recognized from contract liability at beginning of period	$ 6.5	5.1
Gift card redemption revenue
Revenue Recognition
Revenue recognized from contract liability at beginning of period	$ 72.4	$ 72.7
Expected timing of performance obligation satisfaction	1 year

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 02, 2019	Nov. 03, 2018	Nov. 02, 2019	Nov. 03, 2018
Nature of Revenue
Total net sales	$ 1,962,204	$ 1,857,273	$ 6,142,093	$ 5,944,480
Hardlines
Nature of Revenue
Total net sales	800,489	771,109	2,763,156	2,742,243
Apparel
Nature of Revenue
Total net sales	684,072	643,301	1,940,237	1,835,844
Footwear
Nature of Revenue
Total net sales	448,616	412,758	1,329,782	1,266,854
Other
Nature of Revenue
Total net sales	$ 29,027	$ 30,105	$ 108,918	$ 99,539

Leases (Details)

Leases (Details)	Nov. 02, 2019DistributionCenter
Leases
Number of distribution centers leased	3
Additional renewal period	5 years
Minimum
Leases
Initial tenure of operating leases	10 years
Maximum
Leases
Initial tenure of operating leases	15 years

Leases - Components of lease co

Leases - Components of lease cost (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Nov. 02, 2019	Nov. 02, 2019
Lease, Cost [Abstract]
Operating lease cost	$ 147,847	$ 443,117
Short-term lease cost	2,121	5,125
Variable lease cost	30,168	89,599
Sublease income	(1,180)	(2,809)
Total lease cost	$ 178,956	$ 535,032

Leases - Other information rela

Leases - Other information related to operating leases (Details) $ in Thousands	9 Months Ended
	Nov. 02, 2019USD ($)
Leases, Operating [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 491,487
Non-cash operating lease assets and liabilities obtained in exchange for new or modified leases	$ 174,190
Weighted average remaining lease term for operating leases	6 years 9 months 10 days
Weighted average discount rate for operating leases	6.68%

Leases - Future maturities of o

Leases - Future maturities of operating lease liabilities (Details) $ in Thousands	Nov. 02, 2019USD ($)
Future maturities of operating lease liabilities
Remainder of fiscal 2019	$ 164,583
2020	651,035
2021	616,415
2022	557,709
2023	477,952
2024	381,572
Thereafter	797,059
Total future undiscounted lease payments	3,646,325
Less imputed interest	(718,547)
Total reported lease liability	2,927,778
Future lease payments for operating leases that have not yet commenced	148,800
Total future minimum rentals under non-cancellable subleases	$ 58,900

Leases - Disclosures related to

Leases - Disclosures related to periods prior to adoption of Leases (Topic 842) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Nov. 03, 2018	Nov. 03, 2018	Feb. 02, 2019
Future minimum payments determined under previous accounting standards for operating lease obligations, including committed leases that had not yet commenced
2019			$ 655,516
2020			619,189
2021			558,633
2022			475,830
2023			392,826
Thereafter			1,033,034
Total			$ 3,735,028
Rent expense under operating leases	$ 133,500	$ 398,100

Debt (Details)

Debt (Details) - USD ($)	Jun. 28, 2019	Nov. 02, 2019	Feb. 02, 2019	Aug. 09, 2017
Debt
Remaining borrowing capacity		$ 864,600,000	$ 1,233,900,000
Base rate | Minimum
Debt
Interest rate margin (as a percent)	0.125%
Base rate | Maximum
Debt
Interest rate margin (as a percent)	0.375%
Adjusted LIBOR rate | Minimum
Debt
Interest rate margin (as a percent)	1.125%
Adjusted LIBOR rate | Maximum
Debt
Interest rate margin (as a percent)	1.375%
Revolving Credit Facility
Debt
Credit Facility previous borrowing capacity				$ 1,250,000,000
Credit Facility borrowing capacity	$ 1,600,000,000
Credit Facility borrowing capacity extension	$ 500,000,000
Adjusted availability of borrowing base (as a percent)	7.50%
Letters of credit
Debt
Letters of credit maximum	$ 150,000,000

Sale of Subsidiaries (Details)

Sale of Subsidiaries (Details) $ in Thousands	Aug. 22, 2019USD ($)Subsidiary	Nov. 02, 2019USD ($)	Nov. 03, 2018USD ($)	Nov. 02, 2019USD ($)	Nov. 03, 2018USD ($)
Disposal Group [Abstract]
Number of subsidiaries sold by the Company | Subsidiary	2
Proceeds from sale of subsidiaries	$ 45,000
Proceeds from sale of subsidiaries, net of cash sold	40,400			$ 40,387	$ 0
Gain on sale of subsidiaries	$ 33,800	$ 33,779	$ 0	$ 33,779	$ 0

Subsequent Event (Details)

Subsequent Event (Details) - Subsequent Event	Nov. 21, 2019$ / shares
Common Stock
Subsequent Event
Dividend amount (in dollars per share)	$ 0.275
Class B Common Stock
Subsequent Event
Dividend amount (in dollars per share)	$ 0.275