RTW Retailwinds (RTW) 10-Q 6 Sep 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Aug. 03, 2019	Aug. 30, 2019
Document and Entity Information
Entity Registrant Name	RTW RETAILWINDS, INC.
Entity Central Index Key	0001211351
Document Type	10-Q
Document Period End Date	Aug. 3, 2019
Amendment Flag	false
Current Fiscal Year End Date	--02-01
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		65,275,823
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 03, 2019	Aug. 04, 2018	Aug. 03, 2019	Aug. 04, 2018
Condensed Consolidated Statements of Operations
Net sales	$ 201,894	$ 216,370	$ 402,857	$ 435,199
Cost of goods sold, buying and occupancy costs	142,259	146,996	280,580	295,864
Gross profit	59,635	69,374	122,277	139,335
Selling, general and administrative expenses	67,208	66,317	132,300	132,803
Operating (loss) income	(7,573)	3,057	(10,023)	6,532
Interest income, net of interest expense of $100, $67, $166, and $290, respectively	(261)	(217)	(576)	(195)
Loss on extinguishment of debt				239
(Loss) income before income taxes	(7,312)	3,274	(9,447)	6,488
Provision for income taxes	178	207	292	335
Net (loss) income	$ (7,490)	$ 3,067	$ (9,739)	$ 6,153
Basic (loss) earnings per share	$ (0.12)	$ 0.05	$ (0.15)	$ 0.10
Diluted (loss) earnings per share	$ (0.12)	$ 0.05	$ (0.15)	$ 0.09
Weighted average shares outstanding:
Basic shares of common stock (in shares)	64,337	63,749	64,265	63,638
Diluted shares of common stock (in shares)	64,337	66,244	64,265	65,824

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 03, 2019	Aug. 04, 2018	Aug. 03, 2019	Aug. 04, 2018
Condensed Consolidated Statements of Operations
Interest income	$ 100	$ 67	$ 166	$ 290

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 03, 2019	Aug. 04, 2018	Aug. 03, 2019	Aug. 04, 2018
Condensed Consolidated Statements of Comprehensive (Loss) Income
Comprehensive (loss) income	$ (7,437)	$ 3,102	$ (9,634)	$ 6,223

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands		Aug. 03, 2019	Feb. 02, 2019		Aug. 04, 2018
Current assets:
Cash and cash equivalents		$ 83,320	$ 95,542	[1]	$ 94,758
Accounts receivable		9,526	9,879	[1]	11,831
Inventories, net		89,349	82,803	[1]	82,124
Prepaid expenses		12,361	16,921	[1]	17,233
Other current assets		1,897	1,818	[1]	2,018
Total current assets		196,453	206,963	[1]	207,964
Property and equipment, net		56,669	63,791	[1]	68,331
Operating lease assets		218,230
Intangible assets		16,719	16,813	[1]	16,969
Other assets		817	1,311	[1]	1,618
Total assets		488,888	288,878	[1]	294,882
Current liabilities:
Accounts payable		78,617	77,050	[1]	73,310
Accrued expenses		66,840	68,585	[1]	73,641
Current operating lease liabilities		40,383
Income taxes payable	[1]		375
Total current liabilities		185,840	146,010	[1]	146,951
Non-current operating lease liabilities		207,168
Deferred rent			25,090	[1]	26,066
Other liabilities		28,097	31,165	[1]	33,649
Total liabilities		421,105	202,265	[1]	206,666
Stockholders' equity:
Common stock, voting, par value $0.001; 300,000 shares authorized; 67,123, 66,649 and 66,271 shares issued and 65,292, 64,818 and 64,440 shares outstanding at August 3, 2019, February 2, 2019 and August 4, 2018, respectively		67	67	[1]	66
Additional paid-in capital		186,313	185,020	[1]	184,243
Retained deficit		(112,678)	(92,450)	[1]	(90,527)
Accumulated other comprehensive loss		(834)	(939)	[1]	(481)
Treasury stock at cost; 1,831 shares at August 3, 2019, February 2, 2019 and August 4, 2018		(5,085)	(5,085)	[1]	(5,085)
Total stockholders' equity		67,783	86,613	[1]	88,216
Total liabilities and stockholders' equity		$ 488,888	$ 288,878	[1]	$ 294,882
[1]	Derived from the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended February 2, 2019.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands	Aug. 03, 2019	Feb. 02, 2019	Aug. 04, 2018
Condensed Consolidated Balance Sheets
Common stock, voting, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001
Common stock, voting, shares authorized	300,000	300,000	300,000
Common stock, voting, shares issued	67,123	66,649	66,271
Common stock, voting, shares outstanding	65,292	64,818	64,440
Treasury stock at cost, shares	1,831	1,831	1,831

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Aug. 03, 2019	Aug. 04, 2018
Operating activities
Net (loss) income	$ (9,739)	$ 6,153
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation and amortization	9,520	10,715
Non-cash lease expense	22,313
Loss from impairment charges	407	486
Amortization of intangible assets	94	156
Amortization of deferred financing costs	15	41
Write-off of unamortized deferred financing costs		239
Share-based compensation expense	1,352	1,186
Changes in operating assets and liabilities:
Accounts receivable	685	513
Inventories, net	(6,546)	2,374
Prepaid expenses	(603)	(786)
Accounts payable	1,567	3,221
Accrued expenses	(2,020)	(2,835)
Income taxes payable	(375)	(28)
Deferred rent		(1,151)
Operating lease liabilities	(23,478)
Other assets and liabilities	(2,070)	(2,025)
Net cash (used in) provided by operating activities	(8,878)	18,259
Investing activities
Capital expenditures	(2,708)	(1,626)
Insurance recoveries	267	184
Net cash used in investing activities	(2,441)	(1,442)
Financing activities
Principal payment on capital lease obligations	(844)	(1,046)
Shares withheld for payment of employee payroll taxes	(59)	(171)
Repayment of long-term debt		(11,750)
Net cash used in financing activities	(903)	(12,967)
Net (decrease) increase in cash and cash equivalents	(12,222)	3,850
Cash and cash equivalents at beginning of period	95,542	90,908
Cash and cash equivalents at end of period	$ 83,320	$ 94,758

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Deficit	Accumulated Other Comprehensive Loss	Total
Balance at Feb. 03, 2018	$ 66	$ (5,085)	$ 183,228	$ (90,797)	$ (551)	$ 86,861
Balance (in shares) at Feb. 03, 2018	64,065	1,831
Increase (Decrease) in Stockholders' Equity
Issuance of common stock upon exercise of stock appreciation rights (in shares)	41
Restricted stock issued and vesting of units (in shares)	352
Restricted stock forfeits and shares withheld for employee payroll taxes			(171)			(171)
Restricted stock forfeits and shares withheld for employee payroll taxes (in shares)	(18)
Share-based compensation expense			1,186			1,186
Net (loss) income				6,153		6,153
Minimum pension liability adjustment, net of tax					70	70
Comprehensive income (loss), net of tax				6,153	70	6,223
Balance at Aug. 04, 2018	$ 66	$ (5,085)	184,243	(90,527)	(481)	88,216
Balance (in shares) at Aug. 04, 2018	64,440	1,831
Balance at May. 05, 2018	$ 66	$ (5,085)	183,777	(93,594)	(516)	84,648
Balance (in shares) at May. 05, 2018	64,162	1,831
Increase (Decrease) in Stockholders' Equity
Issuance of common stock upon exercise of stock appreciation rights (in shares)	16
Restricted stock issued and vesting of units (in shares)	271
Restricted stock forfeits and shares withheld for employee payroll taxes			(78)			(78)
Restricted stock forfeits and shares withheld for employee payroll taxes (in shares)	(9)
Share-based compensation expense			544			544
Net (loss) income				3,067		3,067
Minimum pension liability adjustment, net of tax					35	35
Comprehensive income (loss), net of tax				3,067	35	3,102
Balance at Aug. 04, 2018	$ 66	$ (5,085)	184,243	(90,527)	(481)	88,216
Balance (in shares) at Aug. 04, 2018	64,440	1,831
Increase (Decrease) in Stockholders' Equity
Adoption of new accounting standard | ASU 2014-09				(5,883)		(5,883)
Balance at Feb. 02, 2019	$ 67	$ (5,085)	185,020	(92,450)	(939)	86,613	[1]
Balance (in shares) at Feb. 02, 2019	64,818	1,831
Increase (Decrease) in Stockholders' Equity
Issuance of common stock upon exercise of stock appreciation rights (in shares)	14
Restricted stock issued and vesting of units (in shares)	478
Restricted stock forfeits and shares withheld for employee payroll taxes			(59)			(59)
Restricted stock forfeits and shares withheld for employee payroll taxes (in shares)	(18)
Share-based compensation expense			1,352			1,352
Net (loss) income				(9,739)		(9,739)
Minimum pension liability adjustment, net of tax					105	105
Comprehensive income (loss), net of tax				(9,739)	105	(9,634)
Balance at Aug. 03, 2019	$ 67	$ (5,085)	186,313	(112,678)	(834)	67,783
Balance (in shares) at Aug. 03, 2019	65,292	1,831
Balance at May. 04, 2019	$ 67	$ (5,085)	185,692	(105,188)	(887)	74,599
Balance (in shares) at May. 04, 2019	64,844	1,831
Increase (Decrease) in Stockholders' Equity
Issuance of common stock upon exercise of stock appreciation rights (in shares)	4
Restricted stock issued and vesting of units (in shares)	453
Restricted stock forfeits and shares withheld for employee payroll taxes			(21)			(21)
Restricted stock forfeits and shares withheld for employee payroll taxes (in shares)	(9)
Share-based compensation expense			642			642
Net (loss) income				(7,490)		(7,490)
Minimum pension liability adjustment, net of tax					53	53
Comprehensive income (loss), net of tax				(7,490)	53	(7,437)
Balance at Aug. 03, 2019	$ 67	$ (5,085)	$ 186,313	(112,678)	$ (834)	67,783
Balance (in shares) at Aug. 03, 2019	65,292	1,831
Increase (Decrease) in Stockholders' Equity
Adoption of new accounting standard | ASU 2016-02				$ (10,489)		$ (10,489)
[1]	Derived from the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended February 2, 2019.

Organization and Basis of Prese

Organization and Basis of Presentation	6 Months Ended
	Aug. 03, 2019
Organization and Basis of Presentation
Organization and Basis of Presentation	1. Organization and Basis of Presentation RTW Retailwinds, Inc. (together with its subsidiaries, the “Company”) is a specialty women’s omni-channel and digitally enabled retailer with a multi-brand lifestyle platform providing curated fashion solutions that are versatile, on-trend, and stylish at a great value. The specialty retailer, first incorporated in 1918, operates 413 retail and outlet locations in 35 states and a substantial and growing eCommerce business. The Company’s portfolio includes branded merchandise from New York & Company, Fashion to Figure, Happy x Nature, Uncommon Sense and collaborations with Eva Mendes, Gabrielle Union and Kate Hudson. The Company’s branded merchandise is sold at its retail locations and online at www.nyandcompany.com , www.fashiontofigure.com , www.happyxnature.com , www.uncommonsense.com , and through its rental subscription businesses at www.nyandcompanycloset.com and www.fashiontofigurecloset.com . The target customers for the Company’s merchandise are women between the ages of 25 and 49. The condensed consolidated financial statements as of August 3, 2019 and August 4, 2018 and for the 13 weeks (“three months") and 26 weeks ("six months") ended August 3, 2019 and August 4, 2018 are unaudited and are presented pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the 52‑week fiscal year ended February 2, 2019 (“fiscal year 2018”), which were filed with the Company’s Annual Report on Form 10-K with the SEC on April 17, 2019. The 52‑week fiscal year ending February 1, 2020 is referred to herein as “fiscal year 2019.” The Company’s fiscal year is a 52‑ or 53‑week year that ends on the Saturday closest to January 31. The Company identifies its operating segments according to how its business activities are managed and evaluated. Its operating segments have been aggregated and are reported as one reportable segment based on the similar nature of products sold, production process, distribution process, target customers and economic characteristics. All of the Company’s revenues are generated in the United States. In the opinion of management, the accompanying condensed consolidated financial statements reflect all adjustments, which are of a normal recurring nature, necessary to present fairly the financial condition, results of operations and cash flows for the interim periods. All significant intercompany balances and transactions have been eliminated in consolidation. Certain totals that appear in this Quarterly Report on Form 10-Q may not equal the sum of the components due to rounding. Due to seasonal variations in the retail industry, the results of operations for any interim period are not necessarily indicative of the results expected for the full fiscal year.

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Aug. 03, 2019
New Accounting Pronouncements
New Accounting Pronouncements	2. New Accounting Pronouncements In February 2016, the FASB issued ASU 2016‑02, “Leases (Topic 842)” (“ASU 2016‑02”), which is a comprehensive new lease standard that amends various aspects of existing accounting guidance for leases. The core principle of ASU 2016‑02 requires lessees to present the assets and liabilities that arise from leases on their balance sheets. ASU 2016‑02 is effective for annual periods beginning after December 15, 2018, and interim periods within those fiscal years and requires modified retrospective adoption with a cumulative effect adjustment to the opening retained earnings balance. The Company adopted ASU 2016-02 as of February 3, 2019 (the first day of fiscal year 2019). Please refer to Note 3, "Leases," for further information regarding the adoption of ASU 2016-02. In February 2018, the FASB issued ASU 2018-02, “Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income” (“ASU 2018-02”), which allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act of 2017. ASU 2018-02 is effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. The Company adopted ASU 2018-02 as of February 3, 2019. The adoption of ASU 2018-02 did not have a material impact on the Company's financial position or results of operations. In June 2016, the FASB issued ASU 2016-13, "Financial Instruments-Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments" ("ASU 2016-13"), which changes the methodology for measuring credit losses on financial instruments and the timing of when such losses are recorded. ASU 2016-13 requires entities to measure expected losses over the life of the asset and recognize an allowance for estimated credit losses upon recognition of the financial instrument. A modified-retrospective adoption with a cumulative effect adjustment to retained earnings is required. The new standard is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2019. Early adoption is permitted. The Company is currently evaluating the adoption of this new standard. However, the Company does not expect there to be a material impact to its financial position or results of operations upon adoption of ASU 2016-13. In August 2018, the FASB issued ASU 2018-15, "Intangibles-Goodwill and Other-Internal-Use-Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract" ("ASU 2018-15"). ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. A modified-retrospective adoption with a cumulative effect adjustment to retained earnings is required. This new guidance will be effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the adoption of this new standard. However, the Company does not expect there to be a material impact to its financial position or results of operations upon adoption of ASU 2018-15.

Leases

Leases	6 Months Ended
	Aug. 03, 2019
Leases
Leases	3. Leases The Company leases retail business locations, office facilities, office equipment, and automotive equipment under various non-cancelable operating leases expiring in various years through 2031. Leases on retail business locations typically specify minimum rentals plus common area maintenance charges, real estate taxes, other landlord charges and possible additional rentals based upon a percentage of sales. Most of the retail business location leases previously had an original term of 10 years and some provide renewal options at rates specified in the leases. The Company’s lease agreements do not contain any material residual value guarantees. As of August 3, 2019, approximately 70% of its store leases could be terminated by the Company within two years, providing the Company with operating flexibility. The Company leases office space for its corporate headquarters at 330 West 34 th Street, New York, New York. The lease for the corporate headquarters expires in 2030. As previously disclosed in Note 2, the Company adopted ASU 2016-02 on February 3, 2019, using the transition option to recognize a cumulative adjustment to the opening retained earnings balance and without adjustment to prior periods. As permitted under the guidance, the Company has elected the package of transition practical expedients which allows the Company to carry forward its identification of contracts that are or contain leases, its historical lease classification, and indirect costs for existing leases. In addition, the Company has elected the practical expedient to separate its lease components from non-lease components. The Company has elected to not record short-term leases on its consolidated balance sheet. Short-term leases are leases with a term of twelve months or less ("short-term leases”). Instead, the Company recognizes short-term leases on a straight-line basis over the related lease term and does not record a related right-of-use asset or lease liability. The Company has not elected to apply the hindsight practical expedient. Adoption of ASU 2016-02 resulted in the recording of operating lease assets and operating lease liabilities of approximately $238.1 million and $268.4 million, respectively, as of February 3, 2019. The difference between the additional lease assets and lease liabilities primarily represents adjustments for initial direct costs, tenant allowances, deferred rent, and the initial right-of-use asset impairment amounts associated with stores with fixed assets that were previously impaired. The adoption of this standard did not materially impact the Company’s condensed consolidated statements of operations or condensed consolidated statements of cash flows. In accordance with the new lease standard, the disclosure of the impact of the cumulative effect adjustment to the opening balance of retained deficit on the Company’s condensed consolidated balance sheet on February 3, 2019 was as follows: February 2, Effect of February 3, 2019 ASU 2016-02 2019 (As reported) Adoption (As amended) (Amounts in thousands) Retained deficit $ (92,450) $ (10,489) $ (102,939) The $10.5 million cumulative effect adjustment primarily represents impairment charges to the right-of-use asset associated with stores with fixed assets that were previously impaired. Although the adoption of ASU 2016-02 did not have a material impact on the operating results for the six months ended August 3, 2019, the Company could however experience a material non-cash impact to operating income (loss) as the result of future impairments of the right-of-use asset depending on store performance, among other factors. Lease Assets and Liabilities The following table discloses supplemental balance sheet information for the Company’s leases: August 3, Classification 2019 (amounts in thousands) Assets Operating lease assets Operating lease assets $ 218,230 Finance lease assets Property and equipment, net 4,639 Total lease assets $ 222,869 Liabilities Current Operating Current operating lease liabilities $ 40,383 Finance Accrued expenses 1,452 Non-current Operating Non-current operating lease liabilities 207,168 Finance Other liabilities 1,475 Total lease liabilities $ 250,478 Lease Cost The components of lease expense were as follows: Three months Six months ended ended Classification August 3, 2019 August 3, 2019 (amounts in thousands) Operating lease cost–stores(1) Occupancy costs $ 18,653 $ 35,952 Operating lease cost–office space and equipment SG&A 2,408 4,800 Finance lease costs: Amortization of leased assets Occupancy costs/ SG&A 356 712 Interest on lease liabilities Interest expense 31 64 Total lease cost $ 21,448 $ 41,528 (1) Maturity of Lease Liabilities The following table summarizes the maturity of lease liabilities as of August 3, 2019: Fiscal Year Operating leases Finance leases (amounts in thousands) 2019 $ 26,620 $ 812 2020 54,019 1,365 2021 43,847 705 2022 37,103 160 2023 34,578 — Thereafter 113,064 — Total lease obligations $ 309,231 $ 3,042 Less: Interest 61,680 115 Present value of lease liabilities $ 247,551 $ 2,927 The table above does not include $6.8 million of short-term lease commitments. Lease Term and Discount Rate The following table discloses the weighted-average remaining lease term and weighted-average discount rate for the Company's leases, excluding short-term leases: August 3, 2019 Weighted-average remaining lease term (years) Operating leases Finance leases Weighted-average discount rate Operating leases 6.1 % Finance leases 3.2 % The discount rate is the rate implicit in the lease unless that rate cannot be readily determined. Most of the Company’s leases do not provide an implicit interest rate, therefore, the Company is required to use its incremental borrowing rate. The incremental borrowing rate is the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. The Company used incremental borrowing rates based on information available at the date of adoption of ASU 2016-02. Other Information Supplemental cash flow information related to leases was as follows: Six months ended August 3, 2019 (amounts in thousands) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 31,344 Operating cash flows from finance leases $ 53 Financing cash flows from finance leases $ 844 Lease assets obtained in exchange for new operating lease liabilities $ 2,258 Lease assets obtained in exchange for new finance lease liabilities $ —

Revenue Recognition

Revenue Recognition	6 Months Ended
	Aug. 03, 2019
Revenue Recognition
Revenue Recognition	4. Revenue Recognition The Company recognizes revenue from the sale of merchandise at the Company’s stores at the time the customer takes possession of the related merchandise and the purchases are paid for. Revenue, including shipping fees billed to customers, from the sale of merchandise at the Company’s eCommerce websites is recognized when the merchandise is shipped to the customer and the purchases are paid for. Sales taxes collected from customers are excluded from revenues. The Company issues gift cards and merchandise credits which do not contain provisions for expiration or inactivity fees. Revenue for gift cards and merchandise credits is recognized at redemption. The portion of the dollar value of gift cards and merchandise credits that ultimately is not used by customers to make purchases is known as breakage and will be recognized as revenue if the Company determines it is not required to escheat such amounts to government agencies under state escheatment laws. The Company offers its private label credit card holders a points-based customer loyalty program, in which customers earn points based on purchases (the “Runway Rewards” program). When customers reach predetermined point thresholds, earned points are converted to rewards that can be redeemed for discounts on future purchases of Company merchandise. Under the Runway Rewards program, points earned expire after 12 months if the point threshold for a reward is not attained. Issued rewards expire after approximately 60 days if they are not redeemed. As rewards are being earned, the Company defers a portion of the revenue equal to the estimated sales value of the reward that is expected to be redeemed using the standalone selling price method. Revenue is recognized as rewards are redeemed or expire. The Company recognizes revenue in connection with its private label credit card agreement with Comenity Bank, a bank subsidiary of Alliance Data Systems Corporation ("ADS") (the "ADS Agreement"). Pursuant to the terms of the ADS Agreement, ADS has the exclusive right to provide private label credit cards to the Company’s customers. The Company’s private label credit card is issued to the Company’s customers for use exclusively at the Company’s stores and eCommerce websites, and credit is extended to such customers by Comenity Bank on a non-recourse basis to the Company. After the execution of the ADS Agreement on July 14, 2016, the Company received a $40 million signing bonus, which was recorded as deferred revenue, and is being amortized on a straight-line basis over the 10-year term of the ADS Agreement. In addition, over the term of the ADS Agreement, the Company receives royalty payments based on a percentage of private label credit card sales, which the Company recognizes as revenue as it is earned. The opening and closing balances of the Company’s contract liabilities are as follows: Gift Cards & Merchandise Credits Loyalty Rewards Six months Six months Six months Six months ended ended ended ended August 3, 2019 August 4, 2018 August 3, 2019 August 4, 2018 (Amounts in thousands) Beginning balance $ 12,206 $ 13,649 $ 6,389 $ 7,331 Increase/(decrease) (1,576) (1,154) (1,422) 41 Ending balance $ 10,630 $ 12,495 $ 4,967 $ 7,372 Contract liabilities related to gift cards and merchandise credits and loyalty programs are reported in “Accrued expenses” on the condensed consolidated balance sheets. The amount of revenue recognized during the three months ended August 3, 2019 and August 4, 2018 that was included in the opening contract liability balance for gift cards and merchandise credits was $1.3 million and $1.0 million, respectively. The amount of revenue recognized during the six months ended August 3, 2019 and August 4, 2018 that was included in the opening contract liability balance for gift cards and merchandise credits was $3.0 million and $4.0 million, respectively. During both the three months ended August 3, 2019 and August 4, 2018, the net revenue impact from rewards issued, redeemed and expired under loyalty reward programs was $0.1 million of revenue recognized. During the six months ended August 3, 2019 and August 4, 2018, the net revenue impact from rewards issued, redeemed and expired under loyalty reward programs was $1.4 million of revenue recognized and $41,000 of revenue deferred, respectively. Deferred revenue related to the ADS Agreement was $27.0 million at August 3, 2019, of which $23.0 million is included in “Other liabilities” and $4.0 million is included in “Accrued expenses” on the condensed consolidated balance sheet. As of August 4, 2018, deferred revenue related to the ADS Agreement was $31.0 million, of which $27.0 million is included in “Other liabilities” and $4.0 million is included in “Accrued expenses” on the condensed consolidated balance sheet. During the three months ended August 3, 2019 and August 4, 2018, the Company recognized revenue of $5.4 million and $5.7 million, respectively, from royalties and the amortization of signing bonuses in connection with the ADS Agreement. During the six months ended August 3, 2019 and August 4, 2018, the Company recognized revenue of $11.0 million and $11.6 million, respectively, from royalties and the amortization of signing bonuses in connection with the ADS Agreement.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Aug. 03, 2019
Earnings Per Share
Earnings Per Share	5. Earnings Per Share Basic earnings per share are computed by dividing net income by the weighted average number of shares of common stock outstanding for the period. Except when the effect would be anti‑dilutive, diluted earnings per share are calculated based on the weighted average number of outstanding shares of common stock plus the dilutive effect of share‑based awards calculated under the treasury stock method. A reconciliation between basic and diluted earnings per share is as follows: Three months Three months Six months Six months ended ended ended ended August 3, 2019 August 4, 2018 August 3, 2019 August 4, 2018 (Amounts in thousands, except per share amounts) Net (loss) income $ (7,490) $ 3,067 $ (9,739) $ 6,153 Basic (loss) earnings per share : Weighted average shares outstanding: Basic shares of common stock 64,337 63,749 64,265 63,638 Basic (loss) earnings per share $ (0.12) $ 0.05 $ (0.15) $ 0.10 Diluted (loss) earnings per share: Weighted average shares outstanding: Basic shares of common stock 64,337 63,749 64,265 63,638 Plus impact of share-based awards — 2,495 — 2,186 Diluted shares of common stock 64,337 66,244 64,265 65,824 Diluted (loss) earnings per share $ (0.12) $ 0.05 $ (0.15) $ 0.09 The calculation of diluted earnings per share for the three and six months ended August 3, 2019 and August 4, 2018 excludes the share-based awards listed in the following table due to their anti-dilutive effect as determined under the treasury stock method: Three months Three months Six months Six months ended ended ended ended August 3, 2019 August 4, 2018 August 3, 2019 August 4, 2018 (Amounts in thousands) Stock options — — — 6 Stock appreciation rights(1) 2,495 36 2,207 86 Restricted stock and units 588 2 588 13 Total anti-dilutive shares 3,083 38 2,795 105 (1) Each stock appreciation right (“SAR”) referred to above represents the right to receive a payment measured by the increase in the fair market value of one share of common stock from the date of grant of the SAR to the date of exercise of the SAR. Upon exercise, the SARs will be settled in the Company’s common stock.

Pension Plan

Pension Plan	6 Months Ended
	Aug. 03, 2019
Pension Plan
Pension Plan	6. Pension Plan The Company sponsors a single employer defined benefit pension plan (“plan”) covering substantially all union employees. Employees covered by collective bargaining agreements are primarily non-management store associates, representing approximately 7% of the Company’s workforce at August 3, 2019. The collective bargaining agreement with the Local 1102 unit of the Retail, Wholesale and Department Store Union AFL‑CIO is in effect through August 31, 2021. The plan provides retirement benefits for union employees who have attained the age of 21 and complete 1,000 or more hours of service in any calendar year following the date of employment. The plan provides benefits based on length of service. The Company’s funding policy for the pension plan is to annually contribute the amount necessary to provide for benefits based on accrued service and to contribute at least the minimum required by ERISA rules. Net periodic benefit cost includes the following components: Three months Three months Six months Six months ended ended ended ended August 3, 2019 August 4, 2018 August 3, 2019 August 4, 2018 (Amounts in thousands) Service cost $ 97 $ 97 $ 194 $ 193 Interest cost 79 76 158 153 Expected return on plan assets (131) (140) (261) (281) Amortization of unrecognized losses 57 39 113 78 Amortization of prior service credit (4) (4) (8) (8) Net periodic benefit cost $ 98 $ 68 $ 196 $ 135 In accordance with FASB ASC Topic 220, “Comprehensive Income,” comprehensive (loss) income reported on the Company’s condensed consolidated statements of comprehensive income includes net (loss) income and other comprehensive income. For the Company, other comprehensive income consists of the reclassification of unrecognized losses and prior service credits related to the Company’s minimum pension liability. The total amount of unrecognized losses and prior service credits of the plan reclassified out of “Accumulated other comprehensive loss” on the condensed consolidated balance sheets and into “Selling, general, and administrative expenses” on the Company’s condensed consolidated statements of operations for the three months ended August 3, 2019 and August 4, 2018 was approximately $53,000 and $35,000, respectively, and for the six months ended August 3, 2019 and August 4, 2018 was approximately $105,000 and $70,000, respectively. As of February 2, 2019, the Company reported a minimum pension liability of $1.4 million due to the underfunded status of the plan. The minimum pension liability is reported in “Other liabilities” on the condensed consolidated balance sheets.

Income Taxes

Income Taxes	6 Months Ended
	Aug. 03, 2019
Income Taxes
Income Taxes	7. Income Taxes The Company files U.S. federal income tax returns and income tax returns in various state and local jurisdictions. The Company is no longer subject to U.S. federal income tax examinations for tax years through 2014. With limited exception, the Company is no longer subject to state and local income tax examinations for tax years through 2014. At February 2, 2019, the Company reported a total liability for unrecognized tax benefits of $2.4 million, including interest and penalties. There have been no material changes during the six months ended August 3, 2019. Of the total $2.4 million of unrecognized tax benefits at February 2, 2019, approximately $1.8 million, if recognized, would impact the Company’s effective tax rate. The Company does not anticipate any significant increases or decreases to the balance of unrecognized tax benefits during the next 12 months. The Company continues to maintain a valuation allowance against its deferred tax assets until the Company believes it is more likely than not that these assets will be realized in the future. If sufficient positive evidence arises in the future indicating that all or a portion of the deferred tax assets meet the more likely than not standard under ASC Topic 740, “Income Taxes,” the applicable valuation allowance would be reversed accordingly in the period that such determination is made. As of August 3, 2019, the Company’s valuation allowance against its deferred tax assets was $58.4 million.

Long-Term Debt and Credit Facil

Long-Term Debt and Credit Facilities	6 Months Ended
	Aug. 03, 2019
Long-Term Debt and Credit Facilities
Long-Term Debt and Credit Facilities	8. Long‑Term Debt and Credit Facilities On October 24, 2014, Lerner New York, Inc., Lernco, Inc. and Lerner New York Outlet, LLC, wholly-owned indirect subsidiaries of RTW Retailwinds, Inc., entered into a Fourth Amended and Restated Loan and Security Agreement (the “Loan Agreement”) with Wells Fargo Bank, National Association, as Agent and Term Loan Agent and the lender party thereto. The obligations under the Loan Agreement are guaranteed by RTW Retailwinds, Inc. and its subsidiaries. The Loan Agreement expires on October 24, 2019. The Company expects to renew the Loan Agreement. The Loan Agreement consists of a revolving credit facility that provides the Company with up to $100 million of credit, consisting of a $75 million revolving credit facility (which includes a sub-facility for issuance of letters of credit up to $45 million) with a fully committed accordion option that allows the Company to increase the revolving credit facility up to $100 million or decrease it to a minimum of $60 million, subject to certain restrictions. On April 5, 2018, the Company used cash on-hand to prepay in full the $11.5 million outstanding balance of a $15 million, 5-year term loan (the "Term Loan") under the Loan Agreement. The Company can no longer borrow funds under the Term Loan. Under the terms of the Loan Agreement, the interest rates applicable to revolving loans are, at the Company’s option, either at a floating rate equal to the Adjusted Eurodollar Rate plus a margin of between 1.50% and 1.75% per year for Eurodollar Rate Loans or a floating rate equal to the Prime Rate plus a margin of between 0.50% and 0.75% per year for Prime Rate Loans, depending upon the Company’s Average Compliance Excess Availability. The Company pays to the lender under the revolving credit facility a monthly fee on outstanding commercial letters of credit at a rate of between 0.75% and 0.875% per year and on standby letters of credit at a rate of between 1.50% and 1.75% per year, depending upon the Company’s Average Compliance Excess Availability, plus a monthly fee on a proportion of the unused commitments under the revolving credit facility at a rate of 0.25% per year. The maximum borrowing availability under the Company’s revolving credit facility is determined by a monthly borrowing base calculation based on applying specified advance rates against inventory and certain other eligible assets. As of August 3, 2019, the Company had availability under its revolving credit facility of $40.7 million, net of letters of credit outstanding of $15.4 million, as compared to availability of $35.0 million, net of letters of credit outstanding of $11.9 million, as of February 2, 2019, and availability of $37.1 million, net of letters of credit outstanding of $14.9 million, as of August 4, 2018. The $15.4 million of letters of credit outstanding at August 3, 2019 represent $10.1 million of standby letters of credit primarily related to the Company’s new corporate headquarters and certain insurance contracts and $5.3 million of commercial letters of credit. Standby letters of credit related to the Company’s corporate headquarters are scheduled to be reduced by $2.0 million in October 2019. As of August 3, 2019, the Company had no borrowings outstanding under the Loan Agreement. Under the terms of the Loan Agreement, the Company is subject to a Minimum Excess Availability covenant of $7.5 million. The Loan Agreement contains other covenants and conditions, including restrictions on the Company’s ability to pay dividends on its common stock, incur additional indebtedness and to prepay, redeem, defease or purchase other indebtedness. Subject to such restrictions, the Company may incur more indebtedness for working capital, capital expenditures, stock repurchases, acquisitions and for other purposes. The lender has been granted a pledge of the common stock of Lerner New York Holding, Inc. and certain of its subsidiaries, and a first priority security interest in substantially all other tangible and intangible assets of RTW Retailwinds, Inc. and its subsidiaries, as collateral for the Company’s obligations under the Loan Agreement. In addition, RTW Retailwinds, Inc. and certain of its subsidiaries have fully and unconditionally guaranteed the obligations under the Loan Agreement, and such guarantees are joint and several.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Aug. 03, 2019
Fair Value Measurements
Fair Value Measurements	9. Fair Value Measurements The Company measures fair value in accordance with FASB ASC Topic 820, “Fair Value Measurements” (“ASC 820”). ASC 820 establishes a three-level fair value hierarchy that requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of inputs used to measure fair value are as follows: Level 1: Observable inputs such as quoted prices in active markets; Level 2: Inputs, other than the 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 and require the reporting entity to develop its own assumptions. The carrying values on the balance sheets for cash and cash equivalents, short-term trade receivables and accounts payable approximate their fair values due to the short-term maturities of such items. The Company classifies long-lived store assets and operating lease assets within Level 3 of the fair value hierarchy. The Company evaluates the impairment of long-lived assets in accordance with ASC Topic 360, “Property, Plant and Equipment.” Long-lived assets are evaluated for recoverability whenever events or changes in circumstances indicate that an asset may have been impaired. The evaluation is performed at the individual store level, which is the lowest level for which identifiable cash flows are largely independent of the cash flows of other groups of assets and liabilities. In evaluating long-lived assets for recoverability, the Company estimates the future cash flows at the individual store level that are expected to result from the use of each store’s assets based on historical experience, omni-channel strategy, knowledge and market data assumptions. If the sum of the expected future undiscounted cash flows is less than the carrying amount of the long-lived assets, an impairment loss, equal to the excess of the carrying amount over the fair value of the assets, is recognized. During the three and six months ended August 3, 2019, the Company recorded $0.3 million and $0.4 million of non-cash impairment charges related to underperforming store assets in “Selling, general and administrative expenses” on the Company’s condensed consolidated statement of operations, respectively. During the three and six months ended August 4, 2018, the Company recorded $0.5 million of non-cash impairment charges related to underperforming store assets in "Selling, general and administrative expenses" on the Company's condensed consolidated statement of operations.

Leases (Tables)

Leases (Tables)	6 Months Ended
	Aug. 03, 2019
Leases
Schedule of the impact of the cumulative effect adjustment to the opening balance of retained deficit on the Company's consolidated balance sheet	February 2, Effect of February 3, 2019 ASU 2016-02 2019 (As reported) Adoption (As amended) (Amounts in thousands) Retained deficit $ (92,450) $ (10,489) $ (102,939)
Schedule of supplemental balance sheet information	August 3, Classification 2019 (amounts in thousands) Assets Operating lease assets Operating lease assets $ 218,230 Finance lease assets Property and equipment, net 4,639 Total lease assets $ 222,869 Liabilities Current Operating Current operating lease liabilities $ 40,383 Finance Accrued expenses 1,452 Non-current Operating Non-current operating lease liabilities 207,168 Finance Other liabilities 1,475 Total lease liabilities $ 250,478
Schedule of components of lease expense	Three months Six months ended ended Classification August 3, 2019 August 3, 2019 (amounts in thousands) Operating lease cost–stores(1) Occupancy costs $ 18,653 $ 35,952 Operating lease cost–office space and equipment SG&A 2,408 4,800 Finance lease costs: Amortization of leased assets Occupancy costs/ SG&A 356 712 Interest on lease liabilities Interest expense 31 64 Total lease cost $ 21,448 $ 41,528 (1)
Summary of maturities of lease liabilities	Fiscal Year Operating leases Finance leases (amounts in thousands) 2019 $ 26,620 $ 812 2020 54,019 1,365 2021 43,847 705 2022 37,103 160 2023 34,578 — Thereafter 113,064 — Total lease obligations $ 309,231 $ 3,042 Less: Interest 61,680 115 Present value of lease liabilities $ 247,551 $ 2,927 The table above does not include $6.8 million of short-term lease commitments.
Schedule of weighted average remaining lease term and weighted-average discount rate	August 3, 2019 Weighted-average remaining lease term (years) Operating leases Finance leases Weighted-average discount rate Operating leases 6.1 % Finance leases 3.2 %
Schedule of supplemental cash flow information	Six months ended August 3, 2019 (amounts in thousands) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 31,344 Operating cash flows from finance leases $ 53 Financing cash flows from finance leases $ 844 Lease assets obtained in exchange for new operating lease liabilities $ 2,258 Lease assets obtained in exchange for new finance lease liabilities $ —

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Aug. 03, 2019
Revenue Recognition
Schedule of opening and closing balances of the company's contract liabilities	Gift Cards & Merchandise Credits Loyalty Rewards Six months Six months Six months Six months ended ended ended ended August 3, 2019 August 4, 2018 August 3, 2019 August 4, 2018 (Amounts in thousands) Beginning balance $ 12,206 $ 13,649 $ 6,389 $ 7,331 Increase/(decrease) (1,576) (1,154) (1,422) 41 Ending balance $ 10,630 $ 12,495 $ 4,967 $ 7,372

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Aug. 03, 2019
Earnings Per Share
Schedule of reconciliation between basic and diluted earnings (loss) per share	Three months Three months Six months Six months ended ended ended ended August 3, 2019 August 4, 2018 August 3, 2019 August 4, 2018 (Amounts in thousands, except per share amounts) Net (loss) income $ (7,490) $ 3,067 $ (9,739) $ 6,153 Basic (loss) earnings per share : Weighted average shares outstanding: Basic shares of common stock 64,337 63,749 64,265 63,638 Basic (loss) earnings per share $ (0.12) $ 0.05 $ (0.15) $ 0.10 Diluted (loss) earnings per share: Weighted average shares outstanding: Basic shares of common stock 64,337 63,749 64,265 63,638 Plus impact of share-based awards — 2,495 — 2,186 Diluted shares of common stock 64,337 66,244 64,265 65,824 Diluted (loss) earnings per share $ (0.12) $ 0.05 $ (0.15) $ 0.09
Schedule listing the share-based awards excluded from the computation of diluted earnings (loss) per share due to their anti-dilutive effect	Three months Three months Six months Six months ended ended ended ended August 3, 2019 August 4, 2018 August 3, 2019 August 4, 2018 (Amounts in thousands) Stock options — — — 6 Stock appreciation rights(1) 2,495 36 2,207 86 Restricted stock and units 588 2 588 13 Total anti-dilutive shares 3,083 38 2,795 105 (1) Each stock appreciation right (“SAR”) referred to above represents the right to receive a payment measured by the increase in the fair market value of one share of common stock from the date of grant of the SAR to the date of exercise of the SAR. Upon exercise, the SARs will be settled in the Company’s common stock.

Pension Plan (Tables)

Pension Plan (Tables)	6 Months Ended
	Aug. 03, 2019
Pension Plan
Schedule of net periodic benefit cost	Three months Three months Six months Six months ended ended ended ended August 3, 2019 August 4, 2018 August 3, 2019 August 4, 2018 (Amounts in thousands) Service cost $ 97 $ 97 $ 194 $ 193 Interest cost 79 76 158 153 Expected return on plan assets (131) (140) (261) (281) Amortization of unrecognized losses 57 39 113 78 Amortization of prior service credit (4) (4) (8) (8) Net periodic benefit cost $ 98 $ 68 $ 196 $ 135

Organization and Basis of Pre_2

Organization and Basis of Presentation (Details)	3 Months Ended		6 Months Ended		12 Months Ended
	Aug. 03, 2019stateitem	Aug. 04, 2018	Aug. 03, 2019statesegmentitemage	Aug. 04, 2018	Feb. 01, 2020	Feb. 02, 2019
Organization and Basis of Presentation
Number of stores operated | item	413		413
Number of states in which entity operated the stores | state	35		35
Length of period	91 days	91 days	182 days	182 days
Length of fiscal year					364 days	364 days
Number of reportable segments | segment			1
Minimum
Organization and Basis of Presentation
Age of women targeted as customers			25
Length of fiscal year					364 days
Maximum
Organization and Basis of Presentation
Age of women targeted as customers			49
Length of fiscal year					371 days

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Thousands	Feb. 03, 2019	Aug. 03, 2019	Feb. 02, 2019	[1]	Aug. 04, 2018
Recently issued accounting pronouncements
Original lease term		10 years
Material residual value guarantees		false
Percentage of store leases that could be terminated within 2 years		70.00%
Maximum period for termination of store leases		2 years
Operating lease assets		$ 218,230
Operating lease liabilities		247,551
Retained deficit	$ (102,939)	$ (112,678)	$ (92,450)		$ (90,527)
ASU 2016-02
Recently issued accounting pronouncements
Elected to apply the hindsight practical expedient		false
Operating lease assets	238,100
Operating lease liabilities	268,400
Retained deficit	(10,489)
Impairment charges to the right-of-use asset	$ 10,500
[1]	Derived from the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended February 2, 2019.

Leases - Lease Assets and Liabi

Leases - Lease Assets and Liabilities (Details) $ in Thousands	Aug. 03, 2019USD ($)
Assets
Operating lease assets	$ 218,230
Operating lease assets	Us-gaap:OperatingLeaseRightOfUseAsset
Finance lease assets	$ 4,639
Finance lease assets	us-gaap:PropertyPlantAndEquipmentNet
Total lease assets	$ 222,869
Current
Operating	$ 40,383
Operating	us-gaap:OperatingLeaseLiabilityCurrent
Finance	$ 1,452
Finance	us-gaap:AccruedLiabilitiesCurrent
Non-current
Operating	$ 207,168
Operating	us-gaap:OperatingLeaseLiabilityNoncurrent
Finance	$ 1,475
Finance	us-gaap:OtherLiabilitiesNoncurrent
Total lease liabilities	$ 250,478

Leases - Lease cost (Details)

Leases - Lease cost (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Aug. 03, 2019	Aug. 03, 2019
Leases
Operating lease cost - stores	$ 18,653	$ 35,952
Operating lease cost - office space and equipment	2,408	4,800
Finance lease costs:
Amortization of leased assets	356	712
Interest on lease liabilities	31	64
Total lease cost	21,448	41,528
Short-term lease costs	4,900	8,500
Variable lease costs	$ 1,000	$ 2,100

Leases - Maturity of lease liab

Leases - Maturity of lease liabilities (Details) $ in Thousands	Aug. 03, 2019USD ($)
Operating Leases
2019	$ 26,620
2020	54,019
2021	43,847
2022	37,103
2023	34,578
Thereafter	113,064
Total lease obligations	309,231
Less: Interest	61,680
Present value of lease liabilities	247,551
Finance Leases
2019	812
2020	1,365
2021	705
2022	160
Total lease obligations	3,042
Less: Interest	115
Present value of lease liabilities	2,927
Short-term lease commitments	$ 6,800

Leases - Lease Term and Discoun

Leases - Lease Term and Discount Rate (Details)	Aug. 03, 2019
Weighted-average remaining lease term (years)
Operating leases (in years)	7 years 2 months 12 days
Finance leases	2 years 2 months 12 days
Weighted-average discount rate
Operating leases	6.10%
Finance leases	3.20%

Leases - Supplemental cash flow

Leases - Supplemental cash flow Information (Details) $ in Thousands	6 Months Ended
	Aug. 03, 2019USD ($)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 31,344
Operating cash flows from finance leases	53
Financing cash flows from finance leases	844
Lease assets obtained in exchange for new operating lease liabilities	$ 2,258

Revenue Recognition - Revenue R

Revenue Recognition - Revenue Recognition Accounting Policies and Contract Liabilities (Details) - USD ($) $ in Thousands	6 Months Ended
	Aug. 03, 2019	Aug. 04, 2018	Jul. 14, 2016
Revenue, Initial Application Period Cumulative Effect Transition
Points earned expiry period for Runway Rewards	12 months
Issued rewards expiry period for Runway Rewards	60 days
Gift Cards & Merchandise Credits
Revenue, Initial Application Period Cumulative Effect Transition
Deferred revenue	$ 12,206	$ 13,649
Change in contract liabilities
Beginning balance	12,206	13,649
Increase/(decrease)	(1,576)	(1,154)
Ending balance	10,630	12,495
Loyalty Rewards
Revenue, Initial Application Period Cumulative Effect Transition
Deferred revenue	6,389	7,331
Change in contract liabilities
Beginning balance	6,389	7,331
Increase/(decrease)	(1,422)	41
Ending balance	4,967	7,372
Second Amended and Restated Label Credit Card Program Agreement | ADS
Revenue, Initial Application Period Cumulative Effect Transition
Deferred revenue	27,000	31,000	$ 40,000
Amortization period of deferred revenue			10 years
Change in contract liabilities
Ending balance	$ 27,000	$ 31,000

Revenue Recognition - Deferred

Revenue Recognition - Deferred revenue (Details) - USD ($)	3 Months Ended		6 Months Ended
	Aug. 03, 2019	Aug. 04, 2018	Aug. 03, 2019	Aug. 04, 2018	Feb. 02, 2019	Feb. 03, 2018	Jul. 14, 2016
Gift Cards & Merchandise Credits
Revenue, Initial Application Period Cumulative Effect Transition
Revenue recognized included in the opening contract liability balance	$ 1,300,000	$ 1,000,000	$ 3,000,000	$ 4,000,000
Deferred revenue	10,630,000	12,495,000	10,630,000	12,495,000	$ 12,206,000	$ 13,649,000
Loyalty Rewards
Revenue, Initial Application Period Cumulative Effect Transition
Net impact of rewards earned, redeemed and expired to deferral of revenue	100,000	100,000	1,400,000	41,000
Deferred revenue	4,967,000	7,372,000	4,967,000	7,372,000	$ 6,389,000	$ 7,331,000
Second Amended and Restated Label Credit Card Program Agreement | ADS
Revenue, Initial Application Period Cumulative Effect Transition
Deferred revenue	27,000,000	31,000,000	27,000,000	31,000,000			$ 40,000,000
Revenue recognized	5,400,000	5,700,000	11,000,000	11,600,000
Second Amended and Restated Label Credit Card Program Agreement | ADS | Other liabilities
Revenue, Initial Application Period Cumulative Effect Transition
Deferred revenue	23,000,000	27,000,000	23,000,000	27,000,000
Second Amended and Restated Label Credit Card Program Agreement | ADS | Accrued expenses
Revenue, Initial Application Period Cumulative Effect Transition
Deferred revenue	$ 4,000,000	$ 4,000,000	$ 4,000,000	$ 4,000,000

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation between basic and diluted earnings (loss) per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 03, 2019	Aug. 04, 2018	Aug. 03, 2019	Aug. 04, 2018
Earnings Per Share
Net (loss) income	$ (7,490)	$ 3,067	$ (9,739)	$ 6,153
Weighted average shares outstanding:
Basic shares of common stock (in shares)	64,337	63,749	64,265	63,638
Basic (loss) earnings per share	$ (0.12)	$ 0.05	$ (0.15)	$ 0.10
Weighted average shares outstanding:
Basic shares of common stock (in shares)	64,337	63,749	64,265	63,638
Plus impact of share-based awards (in shares)		2,495		2,186
Diluted shares of common stock (in shares)	64,337	66,244	64,265	65,824
Diluted (loss) earnings per share	$ (0.12)	$ 0.05	$ (0.15)	$ 0.09

Earnings Per Share - Antidiluti

Earnings Per Share - Antidilutive shares (Details) - shares	3 Months Ended		6 Months Ended
	Aug. 03, 2019	Aug. 04, 2018	Aug. 03, 2019	Aug. 04, 2018
Shares excluded from calculation of diluted earnings per share
Total anti-dilutive shares	3,083,000	38,000	2,795,000	105,000
Stock options
Shares excluded from calculation of diluted earnings per share
Total anti-dilutive shares				6,000
Stock appreciation rights
Shares excluded from calculation of diluted earnings per share
Total anti-dilutive shares	2,495,000	36,000	2,207,000	86,000
Number of shares of common stock for which increase in fair market value considered as basis for measurement of payment			1
Restricted stock and units
Shares excluded from calculation of diluted earnings per share
Total anti-dilutive shares	588,000	2,000	588,000	13,000

Pension Plan (Details)

Pension Plan (Details)	3 Months Ended		6 Months Ended
	Aug. 03, 2019USD ($)	Aug. 04, 2018USD ($)	Aug. 03, 2019USD ($)item	Aug. 04, 2018USD ($)	Feb. 02, 2019USD ($)
Pension Plan
Employees covered by collective bargaining agreements (as a percent)	7.00%		7.00%
Age of employees, after attainment of which plan provides retirement benefits | item			21
Minimum hours of service to be completed for plan to provide retirement benefits			1000 hours
Net periodic benefit cost
Service cost	$ 97,000	$ 97,000	$ 194,000	$ 193,000
Interest cost	79,000	76,000	158,000	153,000
Expected return on plan assets	(131,000)	(140,000)	(261,000)	(281,000)
Amortization of unrecognized losses	57,000	39,000	113,000	78,000
Amortization of prior service credit	(4,000)	(4,000)	(8,000)	(8,000)
Net periodic benefit cost	98,000	68,000	196,000	135,000
Amounts reclassified from accumulated other comprehensive loss	$ 53,000	$ 35,000	$ 105,000	$ 70,000
Minimum pension liability due to the underfunded status of the plan					$ 1,400,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	Aug. 03, 2019	Feb. 02, 2019
Income Taxes
Unrecognized tax benefits		$ 2.4
Unrecognized tax benefit impact on effective tax rate		$ 1.8
Deferred tax assets, valuation allowance	$ 58.4

Long-Term Debt and Credit Fac_2

Long-Term Debt and Credit Facilities (Details) - USD ($) $ in Thousands	Apr. 05, 2018	Aug. 03, 2019	Aug. 04, 2018	Feb. 02, 2019
Long-Term Debt and Credit Facilities
Quarterly repayment			$ 11,750
Minimum excess availability covenant		$ 7,500
Outstanding balance of loan		0
Line of credit
Long-Term Debt and Credit Facilities
Maximum borrowing capacity		100,000
Revolving credit facility
Long-Term Debt and Credit Facilities
Maximum borrowing capacity		$ 75,000
Monthly commitment fee on the unused proportion of credit facility (as a percent)		0.25%
Borrowing availability		$ 40,700	37,100	$ 35,000
Outstanding letters of credit		15,400	$ 14,900	$ 11,900
Revolving credit facility | Minimum
Long-Term Debt and Credit Facilities
Accordion option to increase or decrease commitments under the credit facility		60,000
Revolving credit facility | Maximum
Long-Term Debt and Credit Facilities
Accordion option to increase or decrease commitments under the credit facility		$ 100,000
Revolving credit facility | Eurodollar rate
Long-Term Debt and Credit Facilities
Variable rate basis		Eurodollar Rate
Revolving credit facility | Eurodollar rate | Minimum
Long-Term Debt and Credit Facilities
Interest rate margin (as a percent)		1.50%
Revolving credit facility | Eurodollar rate | Maximum
Long-Term Debt and Credit Facilities
Interest rate margin (as a percent)		1.75%
Revolving credit facility | Prime rate
Long-Term Debt and Credit Facilities
Variable rate basis		Prime Rate
Revolving credit facility | Prime rate | Minimum
Long-Term Debt and Credit Facilities
Interest rate margin (as a percent)		0.50%
Revolving credit facility | Prime rate | Maximum
Long-Term Debt and Credit Facilities
Interest rate margin (as a percent)		0.75%
Commercial letters of credit
Long-Term Debt and Credit Facilities
Maximum borrowing capacity		$ 45,000
Outstanding letters of credit		$ 5,300
Commercial letters of credit | Minimum
Long-Term Debt and Credit Facilities
Monthly commitment fee letters of credit (as a percent)		0.75%
Commercial letters of credit | Maximum
Long-Term Debt and Credit Facilities
Monthly commitment fee letters of credit (as a percent)		0.875%
Stand by letters of credit
Long-Term Debt and Credit Facilities
Outstanding letters of credit		$ 10,100
Expected annual reduction of letters of credit		$ 2,000
Stand by letters of credit | Minimum
Long-Term Debt and Credit Facilities
Monthly commitment fee letters of credit (as a percent)		1.50%
Stand by letters of credit | Maximum
Long-Term Debt and Credit Facilities
Monthly commitment fee letters of credit (as a percent)		1.75%
Term loan
Long-Term Debt and Credit Facilities
Quarterly repayment	$ 11,500
Term loan		$ 15,000
Length of term loan		5 years

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 03, 2019	Aug. 04, 2018	Aug. 03, 2019	Aug. 04, 2018
Non-cash impairment charges			$ 407	$ 486
Underperforming New York & Company stores | Selling, general and administrative expenses
Non-cash impairment charges	$ 300	$ 500	$ 400	$ 500