Sportsman's Warehouse (SPWH) 10-Q 5 Jun 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	May 04, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	May 04, 2024
Entity File Number	001-36401
Entity Registrant Name	SPORTSMAN’S WAREHOUSE HOLDINGS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	39-1975614
Entity Address, Address Line One	1475 West 9000 South, Suite A
Entity Address, City or Town	West Jordan
Entity Address, State or Province	UT
Entity Address, Postal Zip Code	84088
City Area Code	801
Local Phone Number	566-6681
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	SPWH
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Current Fiscal Year End Date	--02-01
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001132105
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	May 04, 2024	Feb. 03, 2024
Current assets:
Cash and cash equivalents	$ 2,168	$ 3,141
Accounts receivable, net	2,102	2,119
Merchandise inventories	391,643	354,710
Prepaid expenses and other	19,200	20,078
Total current assets	415,113	380,048
Operating lease right of use asset	319,636	309,377
Property and equipment, net	187,848	194,452
Goodwill	1,496	1,496
Deferred tax asset	5,972	505
Definite lived intangibles, net	312	327
Total assets	930,377	886,205
Current liabilities:
Accounts payable	70,056	56,122
Accrued expenses	84,444	83,665
Income taxes payable	68	126
Operating lease liability, current	49,351	48,693
Revolving line of credit	164,035	126,043
Total current liabilities	367,954	314,649
Long-term liabilities:
Operating lease liability, noncurrent	314,891	307,000
Total long-term liabilities	314,891	307,000
Total liabilities	682,845	621,649
Commitments and contingencies
Stockholders' equity:
Preferred stock, $.01 par value; 20,000 shares authorized; 0 shares issued and outstanding
Common stock, $.01 par value; 100,000 shares authorized; 37,632 and 37,529 shares issued and outstanding, respectively	376	375
Additional paid-in capital	82,839	81,798
Accumulated earnings	164,317	182,383
Total stockholders' equity	247,532	264,556
Total liabilities and stockholders' equity	$ 930,377	$ 886,205

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Thousands	May 04, 2024	Feb. 03, 2024
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	20,000	20,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000	100,000
Common stock, shares issued	37,632	37,529
Common stock, shares outstanding	37,632	37,529

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	May 04, 2024	Apr. 29, 2023
Income Statement [Abstract]
Net sales	$ 244,240	$ 267,529
Cost of goods sold	170,454	187,485
Gross profit	73,786	80,044
Selling, general, and administrative expenses	94,413	99,003
Income (loss) from operations	(20,627)	(18,959)
Interest expense	2,908	2,047
(Loss) income before income taxes	(23,535)	(21,006)
Income tax expense (benefit)	(5,469)	(5,367)
Net (loss) income	$ (18,066)	$ (15,639)
(Loss) earnings per share:
Basic	$ (0.48)	$ (0.42)
Diluted	$ (0.48)	$ (0.42)
Weighted average shares outstanding:
Basic	37,567	37,610
Diluted	37,567	37,610

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Accumulated (deficit) earnings
Balance at Jan. 28, 2023	$ 293,113	$ 375		$ 79,743	$ 212,995
Balance, shares at Jan. 28, 2023		37,541,000
Repurchase of treasury stock	(598)		$ (696)
Repurchase of treasury stock (in shares)			98,000
Retirement of treasury stock	(98)	$ (1)	$ 696	(205)	(490)
Retirement of treasury stock (in shares)		(98,000)	(98,000)
Vesting of restricted stock units		$ 3		(3)
Vesting of restricted stock units (in shares)		243,000
Payment of withholdings on restricted stock units	(1,445)			(1,445)
Stock based compensation	1,250			1,250
Net income (loss)	(15,639)				(15,639)
Balance at Apr. 29, 2023	276,583	$ 377		79,340	196,866
Balance, shares at Apr. 29, 2023		37,686,000
Balance at Feb. 03, 2024	$ 264,556	$ 375		81,798	182,383
Balance, shares at Feb. 03, 2024	37,529,000	37,529,000
Repurchase of treasury stock (in shares)	0
Vesting of restricted stock units		$ 1		(1)
Vesting of restricted stock units (in shares)		149,000
Payment of withholdings on restricted stock units	$ (132)			(132)
Payment of withholdings on restricted stock units (in shares)		(46,000)
Stock based compensation	1,174			1,174
Net income (loss)	(18,066)				(18,066)
Balance at May. 04, 2024	$ 247,532	$ 376		$ 82,839	$ 164,317
Balance, shares at May. 04, 2024	37,632,000	37,632,000

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	May 04, 2024	Apr. 29, 2023
Cash flows from operating activities:
Net (loss) income	$ (18,066)	$ (15,639)
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation of property and equipment	10,377	8,767
Amortization of deferred financing fees	38	38
Amortization of definite lived intangible	15	15
Loss on asset dispositions	16
Noncash lease expense	(3,187)	3,548
Deferred income taxes	(5,467)	(1,050)
Stock-based compensation	1,174	1,250
Change in operating assets and liabilities, net of amounts acquired:
Accounts receivable, net	18	(363)
Operating lease liabilities	1,477	(540)
Merchandise inventories	(36,933)	(70,361)
Prepaid expenses and other	839	786
Accounts payable	13,756	50,172
Accrued expenses	1,351	(9,176)
Income taxes payable and receivable	(58)	(4,432)
Net cash used in operating activities	(34,650)	(36,985)
Cash flows from investing activities:
Purchase of property and equipment, net of amounts acquired	(3,312)	(22,757)
Proceeds from sale of property and equipment	24
Net cash used in investing activities	(3,288)	(22,757)
Cash flows from financing activities:
Net borrowings on line of credit	37,992	62,747
Decrease in book overdraft	(895)	(213)
Payments to acquire treasury stock		(696)
Payment of withholdings on restricted stock units	(132)	(1,445)
Net cash provided by financing activities	36,965	60,393
Net change in cash and cash equivalents	(973)	651
Cash and cash equivalents at beginning of period	3,141	2,389
Cash and cash equivalents at end of period	2,168	3,040
Cash paid during the period for:
Interest, net of amounts capitalized	2,688	1,776
Income taxes, net of refunds	56	115
Supplemental schedule of noncash activities:
Noncash change in operating lease right of use asset and operating lease liabilities from remeasurement of existing leases and addition of new leases	7,052	37,888
Purchases of property and equipment included in accounts payable and accrued expenses	$ 834	$ 9,809

Description of Business and Bas

Description of Business and Basis of Presentation	3 Months Ended
	May 04, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	(1) Description of Business and Basis of Presentation Description of Business Sportsman’s Warehouse Holdings, Inc., a Delaware corporation (“Holdings”), and its subsidiaries (collectively, the “Company”) operate retail sporting goods stores. As of May 4, 2024 , the Company operated 146 stores in 32 states. The Company also operates an e-commerce platform at www.sportsmans.com. The Company’s stores and website are aggregated into one operating and reportable segment. Basis of Presentation The condensed consolidated financial statements included herein are unaudited and have been prepared by management of the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted pursuant to such rules and regulations. The Company’s condensed consolidated balance sheet as of February 3, 2024 was derived from the Company’s audited consolidated balance sheet as of that date. All other condensed consolidated financial statements contained herein are unaudited and reflect all adjustments that are, in the opinion of management, necessary to summarize fairly the Company's condensed consolidated financial statements for the periods presented. All of these adjustments are of a normal recurring nature. The results of the fiscal quarter ended May 4, 2024 are not necessarily indicative of the results to be obtained for the fiscal year ending February 1, 2025. These condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended February 3, 2024 filed with the SEC on April 4, 2024 (the “Fiscal 2023 Form 10-K”).

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	May 04, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	(2) Summary of Significant Accounting Policies The Company’s significant accounting policies are described in Note 2 to the Fiscal 2023 Form 10-K. The Company has consistently applied the accounting policies to all periods presented in the condensed consolidated financial statements presented herein. Recently Issued Accounting Pronouncements In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280)—Improvements to Reportable Segment Disclosures, which aims to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. In addition, the amendments in the ASU enhance interim disclosure requirements, clarify circumstances in which an entity can disclose multiple segment measures of profit or loss, provide new segment disclosure requirements for entities with a single reportable segment, and contain other disclosure requirements. The ASU applies to all public entities that are required to report segment information in accordance with ASC 280, and is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is evaluating the future impact of the issuance of this ASU on its consolidated financial statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740)—Improvements to Income Tax Disclosures, which include improvements to income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. This ASU also includes certain other amendments to better align disclosures with Regulation S-X and to remove disclosures no longer considered cost beneficial or relevant. This ASU is effective for public entities for annual periods beginning after December 15, 2024, with earlier or retrospective application permitted. The amendments in this ASU should be applied prospectively for annual financial statements not yet issued or made available for issuance. The Company is evaluating the future impact of the issuance of this ASU on its consolidated financial statements.

Revenue Recognition

Revenue Recognition	3 Months Ended
	May 04, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	(3) Revenue Recognition Revenue recognition accounting policy The Company operates solely as an outdoor retailer, which includes both retail stores and an e-commerce platform, that offers a broad range of products in the United States and online. Generally, all revenues are recognized when control of the promised goods is transferred to customers, in an amount that reflects the consideration in exchange for those goods. Accordingly, the Company implicitly enters into a contract with customers to deliver merchandise inventory at the point of sale. Collectability is reasonably assured since the Company only extends immaterial credit for purchases to certain municipalities. Substantially all of the Company’s revenue is for single performance obligations for the following distinct items: • Retail store sales • E-commerce sales • Gift cards and loyalty rewards program For performance obligations related to retail store and e-commerce sales contracts, the Company typically transfers control, for retail stores, upon consummation of the sale when the product is paid for and taken by the customer and, for e-commerce sales, when the products are tendered for delivery to the common carrier. The transaction price for each contract is the stated price on the product, reduced by any stated discounts at that point in time. The Company does not engage in sales of products that attach a future material right which could result in a separate performance obligation for the purchase of goods in the future at a material discount. The implicit point-of-sale contract with the customer, as reflected in the transaction receipt, states the final terms of the sale, including the description, quantity, and price of each product purchased. Payment for the Company’s contracts is due in full upon delivery. The customer agrees to a stated price implicit in the contract that does not vary over the contract. The transaction price relative to sales subject to a right of return reflects the amount of estimated consideration to which the Company expects to be entitled. This amount of variable consideration included in the transaction price, and measurement of net sales, is included in net sales only to the extent that it is probable that there will be no significant reversal in a future period. Actual amounts of consideration ultimately received may differ from the Company’s estimates. The allowance for sales returns is estimated based upon historical experience and a provision for estimated returns is recorded as a reduction in sales in the relevant period. The estimated merchandise inventory cost related to the sales returns is recorded in prepaid expenses and other. The estimated refund liabilities are recorded in accrued expenses. If actual results in the future vary from the Company’s estimates, the Company adjusts these estimates, which would affect net sales and earnings in the period such variances become known. Contract liabilities are recognized primarily for gift card sales and the Company’s loyalty reward program. Cash received from the sale of gift cards is recorded as a contract liability in accrued expenses, and the Company recognizes revenue upon the customer’s redemption of the gift card. Gift card breakage is recognized as revenue in proportion to the pattern of customer redemptions by applying a historical breakage rate of 4.0 % when no escheat liability to relevant jurisdictions exists. Based upon historical experience, gift cards are predominantly redeemed in the first two years following their issuance date. The Company does not sell or provide gift cards that carry expiration dates. Accounting Standards Codification (“ASC”) 606 requires the Company to allocate the transaction price between the goods and the loyalty reward points based on the relative standalone selling price. The Company recognizes revenue for the breakage of loyalty reward points as revenue in proportion to the pattern of customer redemption of the points by applying an estimated breakage rate of 20 % using historical rates and future expectations. As it relates to e-commerce sales, the Company accounts for shipping and handling as fulfillment activities, and not as a separate performance obligation. Accordingly, the Company recognizes revenue for only one performance obligation, the sale of the product, at the shipping point (when the customer gains control). Revenue associated with shipping and handling is not material. The costs associated with fulfillment are recorded in costs of goods sold. The Company offers promotional financing and credit cards issued by a third-party bank that manages and directly extends credit to the Company’s customers. The Company provides a license to its brand and marketing services, and the Company facilitates credit applications in its stores and online. The banks are the sole owners of the accounts receivable generated under the program and, accordingly, the Company does not hold any customer receivables related to these programs and acts as an agent in the financing transactions with customers. The Company is eligible to receive a profit share from certain of its banking partners based on the annual performance of their corresponding portfolio, and the Company receives monthly payments based on forecasts of full-year performance. This is a form of variable consideration. The Company records such profit share as revenue over time using the most likely amount method, which reflects the amount earned each month when it is determined that the likelihood of a significant revenue reversal is not probable, which is typically monthly. Profit-share payments occur monthly, shortly after the end of each program month. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue. Sales returns The Company allows customers to return items purchased within 30 days provided the merchandise is in resaleable condition with original packaging and the original sales/gift receipt is presented. The Company estimates a reserve for sales returns and records the respective reserve amounts, including a right to return asset when a product is expected to be returned and resold. Historical experience of actual returns and customer return rights are the key factors used in determining the estimated sales returns. Contract balances The following table provides information about right of return assets, contract liabilities, and sales return liabilities with customers as of May 4, 2024 and February 3, 2024: May 4, 2024 February 3, 2024 Right of return assets, which are included in prepaid expenses and other $ 1,590 $ 1,659 Estimated gift card contract liability, net of breakage ( 28,427 ) ( 30,541 ) Estimated loyalty contract liability, net of breakage ( 4,448 ) ( 4,340 ) Sales return liabilities, which are included in accrued expenses ( 2,373 ) ( 2,476 ) During the 13 weeks ended May 4, 2024, the Company recognized approximately $ 407 in gift card breakage and approximately $ 437 in loyalty reward breakage. During the 13 weeks ended April 29, 2023 , the Company recognized approximately $ 440 in gift card breakage and approximately $ 938 in loyalty reward breakage. During the 13 weeks ended May 4, 2024, the Company recognized revenue of $ 8,977 relating to contract liabilities that existed at February 3, 2024. The current balance of the right of return assets is the expected amount of inventory to be returned that is expected to be resold. The current balance of the contract liabilities primarily relates to the gift card and loyalty reward program liabilities. The Company expects the revenue associated with these liabilities to be recognized in proportion to the pattern of customer redemptions over the next two years . The current balance of sales return liabilities is the expected amount of sales returns from sales that have occurred. Disaggregation of revenue from contracts with customers In the following table, revenue from contracts with customers is disaggregated by department. The percentage of net sales related to the Company’s departments during the 13 weeks ended May 4, 2024 and April 29, 2023, was approximately: Thirteen Weeks Ended May 4, April 29, Department Product Offerings 2024 2023 Camping Backpacks, camp essentials, canoes and kayaks, coolers, outdoor cooking equipment, sleeping bags, tents and tools 9.2 % 8.9 % Apparel Camouflage, jackets, hats, outerwear, sportswear, technical gear and work wear 5.6 % 7.0 % Fishing Bait, electronics, fishing rods, flotation items, fly fishing, lines, lures, reels, tackle and small boats 11.1 % 9.1 % Footwear Hiking boots, socks, sport sandals, technical footwear, trail shoes, casual shoes, waders and work boots 5.2 % 6.7 % Hunting and Shooting Ammunition, archery items, ATV accessories, blinds and tree stands, decoys, firearms, reloading equipment and shooting gear 63.9 % 63.2 % Optics, Electronics, Accessories, and Other Gift items, GPS devices, knives, lighting, optics, two-way radios, and other license revenue, net of revenue discounts 5.0 % 5.1 % Total 100.0 % 100.0 %

Property and Equipment

Property and Equipment	3 Months Ended
	May 04, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment	(4) Property and Equipment Property and equipment consisted of the following as of May 4, 2024 and February 3, 2024: May 4, February 3, 2024 2024 Furniture, fixtures, and equipment $ 173,203 $ 170,713 Leasehold improvements 228,175 226,787 Construction in progress 1,249 1,367 Total property and equipment, gross 402,627 398,867 Less accumulated depreciation and amortization ( 214,779 ) ( 204,415 ) Total property and equipment, net $ 187,848 $ 194,452

Accrued Expenses

Accrued Expenses	3 Months Ended
	May 04, 2024
Payables and Accruals [Abstract]
Accrued Expenses	(5) Accrued Expenses Accrued expenses consisted of the following as of May 4, 2024 and February 3, 2024: May 4, February 3, 2024 2024 Book overdraft $ 13,466 $ 14,361 Unearned revenue 36,022 38,044 Accrued payroll and related expenses 12,651 10,507 Sales and use tax payable 6,386 5,170 Accrued construction costs 322 — Other 15,597 15,583 Total accrued expenses $ 84,444 $ 83,665

Leases

Leases	3 Months Ended
	May 04, 2024
Leases [Abstract]
Leases	(6) Leases At the inception of the lease, the Company’s operating leases have remaining certain lease terms of up to 15 years, which typically includes multiple options for the Company to extend the lease which are not reasonably certain. The Company determines whether a contract is or contains a lease at contract inception. 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 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. The Company’s lease terms may include options to extend or terminate the lease. Additionally, the Company’s leases do not contain any material residual guarantees or material restrictive covenants. During the 13 weeks ended May 4, 2024, the Company recorded a non-cash increase of $ 7,052 to the right of use assets and operating lease liabilities resulting from lease remeasurements from the exercise of lease extension options, acquired leases, and new leases added. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. In accordance with ASC 842, total lease expense was comprised of the following for the periods presented: Thirteen Weeks Ended May 4, April 29, 2024 2023 Operating lease expense $ 17,036 $ 15,588 Variable lease expense 6,228 5,493 Short-term lease expense 134 261 Total lease expense $ 23,398 $ 21,342 In accordance with ASC 842, other information related to leases was as follows for the periods presented: Thirteen Weeks Ended May 4, April 29, 2024 2023 Operating cash flows from operating leases $ ( 18,518 ) $ ( 16,826 ) As of May 4, As of April 29, 2024 2023 Right-of-use assets obtained in exchange for new or remeasured operating lease liabilities $ 7,052 $ 37,888 Terminated right-of-use assets and liabilities — — Weighted-average remaining lease term - operating leases 6.00 5.83 Weighted-average discount rate - operating leases 7.68 % 7.80 % In accordance with ASC 842, maturities of operating lease liabilities as of May 4, 2024 were as follows: Operating Fiscal Year Ending: Leases 2024 (remainder) $ 56,112 2025 71,875 2026 67,508 2027 60,421 2028 53,408 Thereafter 168,269 Undiscounted cash flows $ 477,593 Reconciliation of lease liabilities: Present values $ 364,242 Lease liabilities - current 49,351 Lease liabilities - noncurrent 314,891 Lease liabilities - total $ 364,242 Difference between undiscounted and discounted cash flows $ 113,351 The Company has excluded in the table above approximately $ 13.8 million of leases (undiscounted basis) that were entered into as of June 5, 2024. These leases will commence in 2025 with lease terms of up to 12 years .

Revolving Line of Credit

Revolving Line of Credit	3 Months Ended
	May 04, 2024
Line of Credit Facility [Abstract]
Revolving Line of Credit	(7) Revolving Line of Credit On May 27, 2022, Sportsman’s Warehouse, Inc. (“SWI”), a wholly owned subsidiary of Holdings, as lead borrower, Holdings and other subsidiaries of the Company, each as borrowers or guarantors, and Wells Fargo Bank, National Association (“Wells Fargo”), with a consortium of banks led by Wells Fargo, entered into an Amended and Restated Credit Agreement (as amended, restated, supplemented or otherwise modified, the “Credit Agreement”). The Credit Agreement governs the Company’s senior secured revolving credit facility (“Revolving Line of Credit”). The Revolving Line of Credit provides borrowing capacity of up to $ 350,000 , subject to a borrowing base calculation. In conjunction with the Credit Agreement, the Company incurred $ 508 of fees paid to various parties which were capitalized. Fees associated with the Revolving Line of Credit were recorded in prepaid expenses and other assets. As of May 4, 2024 and February 3, 2024, the Company had $ 176,149 and $ 135,272 , respectively, in outstanding revolving loans under the Revolving Line of Credit. Amounts outstanding are offset on the condensed consolidated balance sheets by amounts in depository accounts under lock-box type arrangements, which were $ 12,114 and $ 9,230 as of May 4, 2024 and February 3, 2024, respectively. As of May 4, 2024, the Company had $ 78,585 available for borrowing, calculated based upon certain borrowing base restrictions and stand-by commercial letters of credit of $ 2,012 under the terms of the Revolving Line of Credit. Borrowings under the Revolving Line of Credit bear interest based on either the base rate or Term SOFR (as defined in the Credit Agreement), at the Company’s option, in each case plus an applicable margin. The base rate is the greatest of (1) the floor rate (as defined in the Credit Agreement as a rate of interest equal to 0.0 %) (2) Wells Fargo’s prime rate, (3) the federal funds rate (as defined in the Credit Agreement) plus 0.50 % or (4) the one-month Term SOFR (as defined in the Credit Agreement) plus 1.00 %. The applicable margin for loans under the Revolving Line of Credit, which varies based on the average daily availability, ranges from 0.25 % to 0.50 % per year for base rate loans and from 1.35 % to 1.60 % per year for Term SOFR loans. The Company is required to pay a commitment fee for the unused portion of the Revolving Line of Credit, which will range from 0.20 % to 0.225 % per annum, depending on the average daily availability under the Revolving Line of Credit. The weighted average interest rate on the amounts outstanding under the revolving credit facility as of May 4, 2024 and February 3, 2024 was 6.72 % and 7.01 %, respectively. The Company may be required to make mandatory prepayments under the Revolving Line of Credit in the event of a disposition of certain property or assets, in the event of receipt of certain insurance or condemnation proceeds, upon the issuance of certain debt or equity securities, upon the incurrence of certain indebtedness for borrowed money or upon the receipt of certain payments not received in the ordinary course of business. The Credit Agreement contains customary affirmative and negative covenants, including covenants that limit the Company’s ability to incur, create or assume certain indebtedness, to create, incur or assume certain liens, to make certain investments, to make sales, transfers and dispositions of certain property and to undergo certain fundamental changes, including certain mergers, liquidations and consolidations. The Credit Agreement also requires the Company to maintain a minimum availability at all times of not less than 10.0 % of the gross borrowing base and contains customary events of default. The Revolving Line of Credit matures on May 27, 2027 . Each of the subsidiaries of Holdings is a borrower under the Revolving Line of Credit, and all obligations under the Revolving Line of Credit are guaranteed by Holdings. All of the obligations under the Revolving Line of Credit are secured by a lien on substantially all of Holdings’ tangible and intangible working capital assets and the tangible and intangible working capital assets of all of Holdings’ subsidiaries, including a pledge of all capital stock of each of Holdings’ subsidiaries. The lien securing the obligations under the Revolving Line of Credit is a first priority lien as to certain liquid assets, including cash, accounts receivable, deposit accounts and inventory. As of May 4, 2024 and February 3, 2024, the Credit Agreement had $ 465 and $ 503 , respectively, in outstanding deferred financing fees. During the 13 weeks ended May 4, 2024, the Company recognized $ 38 of non-cash interest expense with respect to the amortization of deferred financing fees. During the 13 weeks ended April 29, 2023, the Company recognized $ 38 of non-cash interest expense with respect to the amortization of deferred financing fees. During the 13 weeks ended May 4, 2024, gross borrowings under the Revolving Line of Credit were $ 307,715 . During the 13 weeks ended April 29, 2023, gross borrowing under the Company’s revolving line of credit were $ 357,346 . During the 13 weeks ended May 4, 2024, gross paydowns under the Revolving Line of Credit were $ 269,595 . During the 13 weeks ended April 29, 2023, gross paydowns under the Company’s Revolving Line of Credit were $ 293,798 . Restricted Net Assets The provisions of the Revolving Line of Credit restrict all of the net assets of the Company’s consolidated subsidiaries, which constitute all of the net assets on the Company’s condensed consolidated balance sheet as of May 4, 2024 , from being used to pay any dividends without prior written consent from the financial institutions party to the Revolving Line of Credit.

Income Taxes

Income Taxes	3 Months Ended
	May 04, 2024
Income Tax Disclosure [Abstract]
Income Taxes	(8) Income Taxes The Company recognized income tax benefit of $ 5,469 and $ 5,367 , respectively, in the 13 weeks ended May 4, 2024 and April 29, 2023. The Company’s effective tax rate during the 13 weeks ended May 4, 2024 and April 29, 2023 was 23.2 % and 25.5 % , respectively. The Company’s effective tax rate will generally differ from the U.S. Federal statutory rate of 21.0 %, due to state taxes, permanent items, and discrete items relating to stock award deductions.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	May 04, 2024
Earnings Per Share [Abstract]
Stockholders' Equity	(9) Stockholder s’ Equity Earnings per Share Basic earnings per share is calculated by dividing net income by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share represents basic earnings per share adjusted to include the potentially dilutive effect of nonvested share awards and nonvested share unit awards. The following table sets forth the computation of basic and diluted earnings per share for the periods presented: Thirteen Weeks Ended May 4, April 29, 2024 2023 Net (loss) income $ ( 18,066 ) $ ( 15,639 ) Weighted average shares of common stock outstanding: Basic 37,567 37,610 Dilutive effect of common stock equivalents — — Diluted 37,567 37,610 Basic (loss) earnings per share $ ( 0.48 ) $ ( 0.42 ) Diluted (loss) earnings per share $ ( 0.48 ) $ ( 0.42 ) Restricted stock units considered anti-dilutive and excluded in the calculation 635 238 Repurchase Program On March 24, 2022 the Company announced that its Board of Directors had authorized a share repurchase program (the “Repurchase Program”) to allow for the repurchase of up to $ 75.0 million of outstanding shares of the Company’s common stock, $ 0.01 par value per share, commencing on March 31, 2022. On March 15, 2023, the Company's Board of Directors extended the term of the Repurchase Program through March 31, 2024 . During the 13 weeks ended May 4, 2024 , the Company did no t repurchase any shares of its common stock.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	May 04, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	(10) Stock-Based Compensation Stock-Based Compensation During the 13 weeks ended May 4, 2024, the Company recognized total stock-based compensation expense of $ 1,174 . During the 13 weeks ended April 29, 2023, the Company recognized total stock-based compensation expense of $ 1,250 . Compensation expense related to the Company’s stock-based payment awards is recognized in selling, general, and administrative expenses in the condensed consolidated statements of operations. Employee Stock Plans As of May 4, 2024, the number of shares available for awards under the 2019 Performance Incentive Plan (the “2019 Plan”) was 349 . As of May 4, 2024, there were 2,383 unvested stock awards outstanding under the 2019 Plan. Inducement Plan As of May 4, 2024, the number of shares available for awards under the Inducement Plan was 545 . As of May 4, 2024 , there were 455 unvested stock awards outstanding under the Inducement Plan. Employee Stock Purchase Plan The Company also maintains an Employee Stock Purchase Plan (the “ESPP”) that was approved by the Company’s stockholders in fiscal year 2015, under which 800 shares of common stock were authorized. During the 13 weeks ended May 4, 2024 , no shares were issued under the ESPP and, as of May 4, 2024, the number of shares available for issuance was 128 . Nonvested Performance-Based Stock Awards During the 13 weeks ended May 4, 2024 , the Company issued 874 nonvested performance-based stock awards to employees at a weighted average grant date fair value of $ 3.09 per share. The nonvested performance-based stock awards issued to employees vest in full on the third anniversary of the grant date. The number of shares issued is contingent on management achieving a fiscal year 2024 performance target for earnings before interest, taxes, depreciation and amortization expenses. If a minimum threshold performance target is not achieved, no shares will vest. The maximum number of shares subject to the award is 874 . Following the end of the performance period for fiscal year 2024, the number of shares eligible to vest, based on actual performance, will be fixed and vesting will then be subject to each employee’s continued employment over the remaining service period. During the 13 weeks ended April 29, 2023, the Company issued 36 nonvested performance-based stock awards to employees at a weighted average grant date fair value of $ 8.40 per share. The nonvested performance-based stock awards issued to employees vest in full on the third anniversary of the grant date. The number of shares issued is contingent on management achieving fiscal year 2023, 2024, and 2025 performance targets for total return on invested capital and total operating income percentage. If minimum threshold performance targets are not achieved, no shares will vest. The maximum number of shares subject to the award is 72 , and the “target” number of shares subject to the award is 36 as reported below. Following the end of the performance period (fiscal years 2023, 2024, and 2025), the number of shares eligible to vest, based on actual performance, will be fixed and vesting will then be subject to each employee’s continued employment over the remaining service period. The following table sets forth the rollforward of outstanding nonvested performance-based stock awards (per share amounts are not in thousands): Weighted average grant-date Shares fair value Balance at February 3, 2024 30 $ 9.03 Grants 874 3.09 Forfeitures — — Vested — — Balance at May 4, 2024 904 $ 3.29 Weighted average grant-date Shares fair value Balance at January 28, 2023 313 $ 7.72 Grants 36 8.40 Forfeitures ( 64 ) 11.28 Vested ( 221 ) 6.20 Balance at April 29, 2023 64 $ 9.67 Nonvested Stock Unit Awards During the 13 weeks ended May 4, 2024 , the Company issued 1,087 nonvested stock units to employees of the Company at an average value of $ 3.10 per share. The shares vest over a three-year period with one third of the shares vesting on each anniversary of the grant date. During the 13 weeks ended April 29, 2023 , the Company issued 522 nonvested stock units to employees of the Company at an average value of $ 8.20 per share. The shares vest over a three-year period with one third of the shares vesting on each anniversary of the grant date. The following table sets forth the rollforward of outstanding nonvested stock units (per share amounts are not in thousands): Weighted average grant-date Shares fair value Balance at February 3, 2024 1,058 $ 7.13 Grants 1,087 3.10 Forfeitures ( 27 ) 9.46 Vested ( 184 ) 8.42 Balance at May 4, 2024 1,934 $ 4.69 Weighted average grant-date Shares fair value Balance at January 28, 2023 721 $ 12.16 Grants 522 8.20 Forfeitures ( 91 ) 12.55 Vested ( 209 ) 10.64 Balance at April 29, 2023 943 $ 9.59

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	May 04, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	(11) Commitments and Contingencies Legal Matters The Company is involved in various legal matters generally incidental to its business. After discussion with legal counsel, management is not aware of any matters for which the likelihood of a loss is probable and reasonably estimable and which could have a material impact on its consolidated financial condition, liquidity, or results of operations. On January 22, 2024, Jon Kogut filed a putative class action lawsuit against the Company and the members of its Board of Directors in the Delaware Court of Chancery (the “2024 Delaware Litigation”). The lawsuit asserts claims on behalf of a putative class comprised of all stockholders other than defendants and any current directors or officers of the Company and is captioned Kogut v. Bejar, et al. , C.A. No. 2024-0055-MTZ (Del. Ch.). In his complaint, Mr. Kogut contends that certain provisions in the Company’s advance notice bylaws (the “Challenged Provisions”) are invalid and void and that the members of the Board have breached their fiduciary duty of loyalty by adopting and maintaining the Challenged Provisions. In addition to seeking declaratory, equitable, and injunctive relief, Mr. Kogut seeks an award of attorneys’ fees and other costs and expenses on behalf of the putative class.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	May 04, 2024
Accounting Policies [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280)—Improvements to Reportable Segment Disclosures, which aims to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. In addition, the amendments in the ASU enhance interim disclosure requirements, clarify circumstances in which an entity can disclose multiple segment measures of profit or loss, provide new segment disclosure requirements for entities with a single reportable segment, and contain other disclosure requirements. The ASU applies to all public entities that are required to report segment information in accordance with ASC 280, and is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is evaluating the future impact of the issuance of this ASU on its consolidated financial statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740)—Improvements to Income Tax Disclosures, which include improvements to income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. This ASU also includes certain other amendments to better align disclosures with Regulation S-X and to remove disclosures no longer considered cost beneficial or relevant. This ASU is effective for public entities for annual periods beginning after December 15, 2024, with earlier or retrospective application permitted. The amendments in this ASU should be applied prospectively for annual financial statements not yet issued or made available for issuance. The Company is evaluating the future impact of the issuance of this ASU on its consolidated financial statements.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	May 04, 2024
Revenue from Contract with Customer [Abstract]
Schedule of right of return assets, contract liabilities, and sales return liabilities with customers	May 4, 2024 February 3, 2024 Right of return assets, which are included in prepaid expenses and other $ 1,590 $ 1,659 Estimated gift card contract liability, net of breakage ( 28,427 ) ( 30,541 ) Estimated loyalty contract liability, net of breakage ( 4,448 ) ( 4,340 ) Sales return liabilities, which are included in accrued expenses ( 2,373 ) ( 2,476 )
Schedule of Revenue by Departments	Thirteen Weeks Ended May 4, April 29, Department Product Offerings 2024 2023 Camping Backpacks, camp essentials, canoes and kayaks, coolers, outdoor cooking equipment, sleeping bags, tents and tools 9.2 % 8.9 % Apparel Camouflage, jackets, hats, outerwear, sportswear, technical gear and work wear 5.6 % 7.0 % Fishing Bait, electronics, fishing rods, flotation items, fly fishing, lines, lures, reels, tackle and small boats 11.1 % 9.1 % Footwear Hiking boots, socks, sport sandals, technical footwear, trail shoes, casual shoes, waders and work boots 5.2 % 6.7 % Hunting and Shooting Ammunition, archery items, ATV accessories, blinds and tree stands, decoys, firearms, reloading equipment and shooting gear 63.9 % 63.2 % Optics, Electronics, Accessories, and Other Gift items, GPS devices, knives, lighting, optics, two-way radios, and other license revenue, net of revenue discounts 5.0 % 5.1 % Total 100.0 % 100.0 %

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	May 04, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consisted of the following as of May 4, 2024 and February 3, 2024: May 4, February 3, 2024 2024 Furniture, fixtures, and equipment $ 173,203 $ 170,713 Leasehold improvements 228,175 226,787 Construction in progress 1,249 1,367 Total property and equipment, gross 402,627 398,867 Less accumulated depreciation and amortization ( 214,779 ) ( 204,415 ) Total property and equipment, net $ 187,848 $ 194,452

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	May 04, 2024
Payables and Accruals [Abstract]
Components of Accrued Expenses	Accrued expenses consisted of the following as of May 4, 2024 and February 3, 2024: May 4, February 3, 2024 2024 Book overdraft $ 13,466 $ 14,361 Unearned revenue 36,022 38,044 Accrued payroll and related expenses 12,651 10,507 Sales and use tax payable 6,386 5,170 Accrued construction costs 322 — Other 15,597 15,583 Total accrued expenses $ 84,444 $ 83,665

Leases (Tables)

Leases (Tables)	3 Months Ended
	May 04, 2024
Leases [Abstract]
Summary of lease expense	In accordance with ASC 842, total lease expense was comprised of the following for the periods presented: Thirteen Weeks Ended May 4, April 29, 2024 2023 Operating lease expense $ 17,036 $ 15,588 Variable lease expense 6,228 5,493 Short-term lease expense 134 261 Total lease expense $ 23,398 $ 21,342
Schedule of other information	In accordance with ASC 842, other information related to leases was as follows for the periods presented: Thirteen Weeks Ended May 4, April 29, 2024 2023 Operating cash flows from operating leases $ ( 18,518 ) $ ( 16,826 ) As of May 4, As of April 29, 2024 2023 Right-of-use assets obtained in exchange for new or remeasured operating lease liabilities $ 7,052 $ 37,888 Terminated right-of-use assets and liabilities — — Weighted-average remaining lease term - operating leases 6.00 5.83 Weighted-average discount rate - operating leases 7.68 % 7.80 %
Schedule of maturities of operating lease liabilities	In accordance with ASC 842, maturities of operating lease liabilities as of May 4, 2024 were as follows: Operating Fiscal Year Ending: Leases 2024 (remainder) $ 56,112 2025 71,875 2026 67,508 2027 60,421 2028 53,408 Thereafter 168,269 Undiscounted cash flows $ 477,593 Reconciliation of lease liabilities: Present values $ 364,242 Lease liabilities - current 49,351 Lease liabilities - noncurrent 314,891 Lease liabilities - total $ 364,242 Difference between undiscounted and discounted cash flows $ 113,351

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	May 04, 2024
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Common Share	The following table sets forth the computation of basic and diluted earnings per share for the periods presented: Thirteen Weeks Ended May 4, April 29, 2024 2023 Net (loss) income $ ( 18,066 ) $ ( 15,639 ) Weighted average shares of common stock outstanding: Basic 37,567 37,610 Dilutive effect of common stock equivalents — — Diluted 37,567 37,610 Basic (loss) earnings per share $ ( 0.48 ) $ ( 0.42 ) Diluted (loss) earnings per share $ ( 0.48 ) $ ( 0.42 ) Restricted stock units considered anti-dilutive and excluded in the calculation 635 238

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	May 04, 2024
Share-Based Payment Arrangement [Abstract]
Rollforward of Outstanding Nonvested Performance-based Stock Awards	The following table sets forth the rollforward of outstanding nonvested performance-based stock awards (per share amounts are not in thousands): Weighted average grant-date Shares fair value Balance at February 3, 2024 30 $ 9.03 Grants 874 3.09 Forfeitures — — Vested — — Balance at May 4, 2024 904 $ 3.29 Weighted average grant-date Shares fair value Balance at January 28, 2023 313 $ 7.72 Grants 36 8.40 Forfeitures ( 64 ) 11.28 Vested ( 221 ) 6.20 Balance at April 29, 2023 64 $ 9.67
Rollforward of Outstanding Nonvested Stock Units	The following table sets forth the rollforward of outstanding nonvested stock units (per share amounts are not in thousands): Weighted average grant-date Shares fair value Balance at February 3, 2024 1,058 $ 7.13 Grants 1,087 3.10 Forfeitures ( 27 ) 9.46 Vested ( 184 ) 8.42 Balance at May 4, 2024 1,934 $ 4.69 Weighted average grant-date Shares fair value Balance at January 28, 2023 721 $ 12.16 Grants 522 8.20 Forfeitures ( 91 ) 12.55 Vested ( 209 ) 10.64 Balance at April 29, 2023 943 $ 9.59

Description of Business and B_2

Description of Business and Basis of Presentation (Details)	3 Months Ended
	May 04, 2024 Store State Segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of stores | Store	146
Number of states | State	32
Number of reportable segments	1
Number of Operating Segments	1

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	May 04, 2024	Apr. 29, 2023
Revenue from Contract with Customer [Abstract]
Gift card historical breakage (as a percent)	4%
Gift card escheat liability	$ 0
Redemption period	2 years
Breakage of loyalty reward (as a percent)	20%
Gift breakage income	$ 407	$ 440
Recognized customer loyalty program breakage income	437	$ 938
Recognized revenues relating to contract liabilities	$ 8,977
Revenue from contract with customer liability recognition period	2 years

Revenue Recognition - Contract

Revenue Recognition - Contract balances (Details) - USD ($) $ in Thousands	May 04, 2024	Feb. 03, 2024
Disaggregation of Revenue [Line Items]
Right of return assets, which are included in prepaid expenses and other	$ 1,590	$ 1,659
Sales return liabilities, which are included in accrued expenses	(2,373)	(2,476)
Gift Card
Disaggregation of Revenue [Line Items]
Estimated contract liability, net of breakage	(28,427)	(30,541)
Loyalty Reward Program
Disaggregation of Revenue [Line Items]
Estimated contract liability, net of breakage	$ (4,448)	$ (4,340)

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of revenue from contracts with customers (Details)	3 Months Ended
	May 04, 2024	Apr. 29, 2023
Disaggregation of Revenue [Line Items]
Net sales (as a percent)	100%	100%
Camping
Disaggregation of Revenue [Line Items]
Net sales (as a percent)	9.20%	8.90%
Apparel
Disaggregation of Revenue [Line Items]
Net sales (as a percent)	5.60%	7%
Fishing
Disaggregation of Revenue [Line Items]
Net sales (as a percent)	11.10%	9.10%
Footwear
Disaggregation of Revenue [Line Items]
Net sales (as a percent)	5.20%	6.70%
Hunting and Shooting
Disaggregation of Revenue [Line Items]
Net sales (as a percent)	63.90%	63.20%
Optics, Electronics, Accessories, and Other
Disaggregation of Revenue [Line Items]
Net sales (as a percent)	5%	5.10%

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	May 04, 2024	Feb. 03, 2024
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 402,627	$ 398,867
Less accumulated depreciation and amortization	(214,779)	(204,415)
Total property and equipment, net	187,848	194,452
Furniture, fixtures, and equipment
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	173,203	170,713
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	228,175	226,787
Construction in progress
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 1,249	$ 1,367

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	May 04, 2024	Feb. 03, 2024
Payables and Accruals [Abstract]
Book overdraft	$ 13,466	$ 14,361
Unearned revenue	36,022	38,044
Accrued payroll and related expenses	12,651	10,507
Sales and use tax payable	6,386	5,170
Accrued construction costs	322	0
Other	15,597	15,583
Total accrued expenses	$ 84,444	$ 83,665

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	May 04, 2024	Jun. 05, 2024	Feb. 03, 2024
Lessee, Lease, Description [Line Items]
Options to extend	true
Increase in ROU assets and operating lease liabilities	$ 7,052
Lease liabilities - noncurrent	$ 314,891		$ 307,000
Lease term	12 years
Subsequent Event
Lessee, Lease, Description [Line Items]
Lease liabilities - noncurrent		$ 13,800
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	15 years

Leases - Lease Expense (Details

Leases - Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	May 04, 2024	Apr. 29, 2023
Leases [Abstract]
Operating lease expense	$ 17,036	$ 15,588
Variable lease expense	6,228	5,493
Short-term lease expense	134	261
Total lease expense	$ 23,398	$ 21,342

Leases - Other Information (Det

Leases - Other Information (Details) - USD ($) $ in Thousands	3 Months Ended
	May 04, 2024	Apr. 29, 2023
Leases [Abstract]
Operating cash flows from operating leases	$ (18,518)	$ (16,826)
Right-of-use assets obtained in exchange for new or remeasured operating lease liabilities	$ 7,052	$ 37,888
Weighted-average remaining lease term - operating leases	6 years	5 years 9 months 29 days
Weighted-average discount rate - operating leases	7.68%	7.80%

Leases - ASC 842 Maturities (De

Leases - ASC 842 Maturities (Details) - USD ($) $ in Thousands	May 04, 2024	Feb. 03, 2024
Lessee, Operating Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
2024 (remainder)	$ 56,112
2025	71,875
2026	67,508
2027	60,421
2028	53,408
Thereafter	168,269
Undiscounted cash flows	477,593
Reconciliation of lease liabilities:
Lease liabilities - current	49,351	$ 48,693
Lease liabilities - noncurrent	314,891	$ 307,000
Lease liabilities - total	364,242
Difference between undiscounted and discounted cash flows	$ 113,351

Revolving Line Of Credit (Detai

Revolving Line Of Credit (Details) - USD ($) $ in Thousands		3 Months Ended
	May 27, 2022	May 04, 2024	Apr. 29, 2023	Feb. 03, 2024
Line Of Credit Facility [Line Items]
Capitalization of fees paid	$ 508
Wells Fargo Senior Secured Revolving Credit Facility
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 350,000
Line of credit facility, amount outstanding		$ 176,149		$ 135,272
Amounts in depository under lock-box arrangements		12,114		$ 9,230
Available for borrowings, subject to borrowing base restrictions		$ 78,585
Weighted average interest rate, outstanding		6.72%		7.01%
Revolving credit facility, covenant term		The Credit Agreement also requires the Company to maintain a minimum availability at all times of not less than 10.0% of the gross borrowing base and contains customary events of default.
Line of credit, maturity date		May 27, 2027
Deferred financing fees outstanding		$ 465		$ 503
Amortization of deferred financing fees		38	$ 38
Gross borrowings under revolving line of credit		307,715	357,346
Gross paydowns under revolving line of credit		$ 269,595	$ 293,798
Wells Fargo Senior Secured Revolving Credit Facility | Minimum
Line Of Credit Facility [Line Items]
Commitment fee		0.20%
Line of credit facility gross borrowing base percentage		10%
Wells Fargo Senior Secured Revolving Credit Facility | Maximum
Line Of Credit Facility [Line Items]
Commitment fee		0.225%
Wells Fargo Senior Secured Revolving Credit Facility | Federal Funds Rate
Line Of Credit Facility [Line Items]
Basis spread (as a percent)		0.50%
Wells Fargo Senior Secured Revolving Credit Facility | Floor rate
Line Of Credit Facility [Line Items]
Interest rate		0%
Wells Fargo Senior Secured Revolving Credit Facility | SOFR
Line Of Credit Facility [Line Items]
Basis spread (as a percent)		1%
Wells Fargo Senior Secured Revolving Credit Facility | SOFR | Minimum
Line Of Credit Facility [Line Items]
Basis spread (as a percent)		1.35%
Wells Fargo Senior Secured Revolving Credit Facility | SOFR | Maximum
Line Of Credit Facility [Line Items]
Basis spread (as a percent)		1.60%
Wells Fargo Senior Secured Revolving Credit Facility | Base Rate | Minimum
Line Of Credit Facility [Line Items]
Basis spread (as a percent)		0.25%
Wells Fargo Senior Secured Revolving Credit Facility | Base Rate | Maximum
Line Of Credit Facility [Line Items]
Basis spread (as a percent)		0.50%
Wells Fargo Stand-by Commercial Letters of Credit
Line Of Credit Facility [Line Items]
Net borrowing available under revolving line of credit		$ 2,012

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	May 04, 2024	Apr. 29, 2023
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ (5,469)	$ (5,367)
Effective tax rate	23.20%	25.50%
Federal statutory rate	21%

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	May 04, 2024	Apr. 29, 2023	Feb. 03, 2024	Mar. 24, 2022
Earnings Per Share [Abstract]
Net (loss) income	$ (18,066)	$ (15,639)
Weighted-average shares of common stock outstanding:
Basic	37,567,000	37,610,000
Dilutive effect of common stock equivalents		0
Diluted	37,567,000	37,610,000
Basic (loss) earnings per share	$ (0.48)	$ (0.42)
Diluted (loss) earnings per share	$ (0.48)	$ (0.42)
Restricted stock units considered anti-dilutive and excluded in the calculation	635,000	238,000
Repurchase program				$ 75,000
Common stock, par value	$ 0.01		$ 0.01	$ 0.01
Repurchase program term	Mar. 31, 2024
Repurchase of treasury stock (in shares)	0

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	May 04, 2024	Apr. 29, 2023	Feb. 03, 2024	Jan. 28, 2023	Jan. 30, 2016
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation	$ 1,174	$ 1,250
Nonvested Performance-Based Stock Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unvested stock awards outstanding	904,000	64,000	30,000	313,000
Maximum number of shares subject to award	874,000	72,000
Issuance of nonvested stock units	874,000	36,000
Nonvested stock issued, weighted average grant date fair value per share	$ 3.09	$ 8.4
Employees | Nonvested Performance-Based Stock Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Issuance of nonvested stock units	874,000	36,000
Nonvested stock issued, weighted average grant date fair value per share	$ 3.09	$ 8.4
Employees | Nonvested Restricted Stock Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Issuance of nonvested stock units	1,087,000	522,000
Nonvested stock issued, weighted average grant date fair value per share	$ 3.1	$ 8.2
Vesting period	3 years	3 years
Vesting percentage	0.33%	0.33%
Employee Stock Plans
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares available for awards	128,000
Maximum number of shares subject to award					800,000
Issuance of common stock for cash per employee stock purchase plan (in shares)	0
2019 plan | Employee Stock Plans
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares available for awards	349,000
Number of awards outstanding	2,383,000
Inducement Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares available for awards	545,000
Unvested stock awards outstanding	455,000
Selling, General and Administrative Expenses
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation	$ 1,174	$ 1,250

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - $ / shares shares in Thousands	3 Months Ended
	May 04, 2024	Apr. 29, 2023
Nonvested Performance-Based Stock Awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Beginning balance, Shares	30	313
Grants, Shares	874	36
Forfeitures, Shares		(64)
Vested, Shares		(221)
Ending balance, Shares	904	64
Beginning balance, Weighted average grant-date fair value	$ 9.03	$ 7.72
Grants, Weighted average grant-date fair value	3.09	8.4
Forfeitures, Weighted average grant-date fair value		11.28
Vested, Weighted average grant-date fair value		6.2
Ending balance, Weighted average grant-date fair value	$ 3.29	$ 9.67
Restricted Stock Units (RSUs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Beginning balance, Shares	1,058	721
Grants, Shares	1,087	522
Forfeitures, Shares	(27)	(91)
Vested, Shares	(184)	(209)
Ending balance, Shares	1,934	943
Beginning balance, Weighted average grant-date fair value	$ 7.13	$ 12.16
Grants, Weighted average grant-date fair value	3.1	8.2
Forfeitures, Weighted average grant-date fair value	9.46	12.55
Vested, Weighted average grant-date fair value	8.42	10.64
Ending balance, Weighted average grant-date fair value	$ 4.69	$ 9.59