Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | ||
Aug. 02, 2014 | Aug. 29, 2014 | Aug. 29, 2014 | |
Class A Common Shares | Class B Common Shares | ||
Class of Stock [Line Items] | ' | ' | ' |
Entity Registrant Name | 'DSW Inc. | ' | ' |
Entity Central Index Key | '0001319947 | ' | ' |
Current Fiscal Year End Date | '--01-31 | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Document Type | '10-Q | ' | ' |
Document Period End Date | 2-Aug-14 | ' | ' |
Document Fiscal Year Focus | '2014 | ' | ' |
Document Fiscal Period Focus | 'Q2 | ' | ' |
Amendment Flag | 'false | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 81,387,222 | 7,733,177 |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations and Comprehensive Income (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 | Aug. 02, 2014 | Aug. 03, 2013 |
Net sales | $587,096 | $562,063 | $1,186,043 | $1,163,425 |
Cost of sales | -415,192 | -378,621 | -826,134 | -796,986 |
Operating expenses | -118,594 | -129,461 | -245,348 | -258,172 |
Operating profit | 53,310 | 53,981 | 114,561 | 108,267 |
Interest expense | -96 | -207 | -165 | -424 |
Interest income | 731 | 688 | 1,758 | 1,245 |
Interest income, net | 635 | 481 | 1,593 | 821 |
Income from continuing operations before income taxes and income from Town Shoes | 53,945 | 54,462 | 116,154 | 109,088 |
Income tax provision | -20,824 | -20,742 | -44,394 | -40,853 |
Income from Town Shoes | 849 | 0 | 849 | 0 |
Income from continuing operations | 33,970 | 33,720 | 72,609 | 68,235 |
Income from discontinued operations, net of tax | 358 | 0 | 358 | 0 |
Net income | 34,328 | 33,720 | 72,967 | 68,235 |
Basic and diluted earnings (loss) per share [Abstract]: | ' | ' | ' | ' |
Basic earnings per share from continuing operations | $0.38 | $0.37 | $0.80 | $0.76 |
Diluted earnings per share from continuing operations | $0.37 | $0.37 | $0.79 | $0.74 |
Basic earnings per share from discontinued operations | $0 | $0 | $0 | $0 |
Diluted earnings per share from discontinued operations | $0 | $0 | $0 | $0 |
Basic earnings per share | $0.38 | $0.37 | $0.81 | $0.76 |
Diluted earnings per share | $0.38 | $0.37 | $0.80 | $0.74 |
Shares used in per share calculations [Abstract]: | ' | ' | ' | ' |
Basic shares | 90,120 | 90,380 | 90,472 | 90,248 |
Diluted shares | 91,126 | 91,796 | 91,618 | 91,678 |
Other comprehensive (loss) income, net of tax [Abstract]: | ' | ' | ' | ' |
Foreign currency translation | -89 | 0 | -89 | 0 |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, Net of Tax | 0 | 8,758 | 0 | 8,758 |
Comprehensive income | $34,239 | $42,478 | $72,878 | $76,993 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Operations (Parenthetical) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 | Aug. 02, 2014 | Aug. 03, 2013 |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Tax | $0 | ($5,289) | $0 | ($5,289) |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Aug. 02, 2014 | Feb. 01, 2014 | Aug. 03, 2013 |
In Thousands, unless otherwise specified | |||
Assets [Abstract]: | ' | ' | ' |
Cash and equivalents | $87,406 | $112,021 | $68,929 |
Short-term investments | 151,647 | 224,098 | 200,238 |
Accounts receivable, net | 27,855 | 26,593 | 21,716 |
Accounts receivable from related parties | 13 | 53 | 26 |
Inventories | 414,988 | 397,768 | 404,512 |
Prepaid expenses and other current assets | 51,577 | 34,072 | 38,173 |
Prepaid rent to related parties | 938 | 29 | 943 |
Deferred income taxes | 22,331 | 18,130 | 42,368 |
Total current assets | 756,755 | 812,764 | 776,905 |
Property and equipment, net | 331,269 | 318,620 | 310,374 |
Long-term investments | 225,972 | 243,188 | 230,599 |
Goodwill | 25,899 | 25,899 | 25,899 |
Deferred income taxes | 12,466 | 11,587 | 14,366 |
Prepaid Expense, Noncurrent | 722 | 514 | 0 |
Equity Method Investments | 24,788 | 0 | 0 |
Notes Receivable, Related Parties, Noncurrent | 47,755 | 0 | 0 |
Other assets | 8,141 | 8,672 | 8,030 |
Total assets | 1,433,767 | 1,421,244 | 1,366,173 |
Liabilities and Shareholders' equity [Abstract]: | ' | ' | ' |
Accounts payable | 192,341 | 167,949 | 175,806 |
Accounts payable to related parties | 658 | 756 | 819 |
Accrued expenses | 107,123 | 115,697 | 127,151 |
Total current liabilities | 300,122 | 284,402 | 303,776 |
Non-current liabilities | 142,479 | 138,298 | 131,657 |
Commitments and contingencies | 0 | 0 | 0 |
Shareholdersb equity [Abstract]: | ' | ' | ' |
Additional Paid in Capital, Common Stock | 899,404 | 890,698 | 881,761 |
Preferred Shares, no par value; 100,000 authorized; no shares issued or outstanding | 0 | 0 | 0 |
Treasury Stock, Value | -56,776 | -1,600 | 0 |
Retained earnings | 173,620 | 134,439 | 73,972 |
Basis difference related to acquisition of commonly controlled entity | -24,993 | -24,993 | -24,993 |
Accumulated other comprehensive loss | -89 | 0 | 0 |
Total shareholdersb equity | 991,166 | 998,544 | 930,740 |
Total liabilities and shareholdersb equity | 1,433,767 | 1,421,244 | 1,366,173 |
Additional Paid-in Capital [Member] | ' | ' | ' |
Shareholdersb equity [Abstract]: | ' | ' | ' |
Total shareholdersb equity | 899,404 | 890,698 | 881,761 |
Accumulated other comprehensive loss | ' | ' | ' |
Shareholdersb equity [Abstract]: | ' | ' | ' |
Total shareholdersb equity | ($89) | $0 | $0 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Aug. 02, 2014 | Feb. 01, 2014 | Aug. 03, 2013 |
In Thousands, unless otherwise specified | |||
Shareholders' equity [Abstract]: | ' | ' | ' |
Preferred Shares, par value (in dollars per share) | $0 | $0 | $0 |
Preferred Shares, authorized (in shares) | 100,000 | 100,000 | 100,000 |
Preferred Shares, issued (in shares) | 0 | 0 | 0 |
Preferred Shares, outstanding (in shares) | 0 | 0 | 0 |
Class A Common Shares | ' | ' | ' |
Shareholders' equity [Abstract]: | ' | ' | ' |
Common Shares, par value (in dollars per share) | $0 | $0 | $0 |
Common Shares, authorized (in shares) | 250,000 | 250,000 | 170,000 |
Common Shares, issued (in shares) | 83,419 | 83,071 | 73,326 |
Common Shares, outstanding (in shares) | 81,383 | 83,033 | 73,326 |
Class B Common Shares | ' | ' | ' |
Shareholders' equity [Abstract]: | ' | ' | ' |
Common Shares, par value (in dollars per share) | $0 | $0 | $0 |
Common Shares, authorized (in shares) | 100,000 | 100,000 | 100,000 |
Common Shares, issued (in shares) | 7,733 | 7,733 | 17,168 |
Common Shares, outstanding (in shares) | 7,733 | 7,733 | 17,168 |
Treasury Stock [Member] | ' | ' | ' |
Shareholders' equity [Abstract]: | ' | ' | ' |
Common Shares, outstanding (in shares) | 2,036 | 38 | 0 |
Treasury Stock, Shares | 2,036 | 38 | 0 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Shareholders' Equity (USD $) | Total | Class A Common Shares | Class B Common Shares | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings | Basis difference related to acquisition of commonly controlled entity | Accumulated other comprehensive loss |
In Thousands, unless otherwise specified | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||
Balance at Feb. 02, 2013 | $858,579 | ' | ' | $0 | $872,026 | $16,991 | ($21,680) | ($8,758) |
Balance (in shares) at Feb. 02, 2013 | ' | 72,564 | 17,460 | 0 | ' | ' | ' | ' |
Increase (Decrease) in Shareholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 68,235 | ' | ' | ' | 0 | 68,235 | 0 | 0 |
Stock-based compensation expense, before related tax effects | 4,282 | ' | ' | ' | 4,282 | 0 | 0 | 0 |
Stock units granted | 1,069 | ' | ' | ' | 1,069 | 0 | 0 | 0 |
Stock units granted (in shares) | ' | 30 | ' | ' | ' | ' | ' | ' |
Exercise of stock options, net of settlement of taxes | 3,317 | ' | ' | ' | 3,317 | 0 | 0 | 0 |
Exercise of stock options, net of settlement of taxes (in shares) | ' | 364 | ' | ' | ' | ' | ' | ' |
Vesting of restricted stock units, net of settlement of taxes | -1,560 | ' | ' | ' | -1,560 | 0 | 0 | 0 |
Vesting of restricted stock units, net of settlement of taxes (in shares) | ' | 76 | ' | ' | ' | ' | ' | ' |
Excess tax benefits related to stock-based compensation | 2,627 | ' | ' | ' | 2,627 | 0 | 0 | 0 |
Tax Effect of Basis Difference Related to Acquisition of Common Control Entity | -3,313 | ' | ' | ' | ' | ' | -3,313 | ' |
Exchange of Class A Common Shares for Class B Common Shares | ' | -606 | ' | ' | ' | ' | ' | ' |
Exchange of Class A for Class B shares | ' | ' | 606 | ' | ' | ' | ' | ' |
Value of stock transferred from Class A Common Shares to Class B Common Shares. | 0 | ' | ' | ' | ' | ' | ' | ' |
Exchange of Class B Shares for Class A Shares (in shares) | ' | 898 | ' | ' | ' | ' | ' | ' |
Exchange of Class B for Class A (in shares) | ' | ' | -898 | ' | ' | ' | ' | ' |
Value of stock transferred from Class B Common Shares to Class A Common Shares. | 0 | ' | ' | ' | ' | ' | ' | ' |
Dividends paid | -11,254 | ' | ' | ' | ' | -11,254 | ' | ' |
Settlement of pension plan, net of taxes of $5,289 | 8,935 | ' | ' | ' | ' | ' | ' | 8,935 |
Foreign currency translation | 0 | ' | ' | ' | ' | ' | ' | ' |
Change in minimum pension liability | -177 | ' | ' | ' | ' | ' | ' | -177 |
Balance at Aug. 03, 2013 | 930,740 | ' | ' | 0 | 881,761 | 73,972 | -24,993 | 0 |
Balance (in shares) at Aug. 03, 2013 | ' | 73,326 | 17,168 | 0 | ' | ' | ' | ' |
Balance at Feb. 01, 2014 | 998,544 | ' | ' | -1,600 | 890,698 | 134,439 | -24,993 | 0 |
Balance (in shares) at Feb. 01, 2014 | ' | 83,033 | 7,733 | 38 | ' | ' | ' | ' |
Increase (Decrease) in Shareholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 72,967 | ' | ' | ' | 0 | 72,967 | 0 | 0 |
Stock-based compensation expense, before related tax effects | 5,104 | ' | ' | ' | 5,104 | 0 | 0 | 0 |
Stock units granted | 1,163 | ' | ' | ' | 1,163 | 0 | 0 | 0 |
Stock units granted (in shares) | ' | 45 | ' | ' | ' | ' | ' | ' |
Exercise of stock options, net of settlement of taxes | 2,965 | ' | ' | ' | 2,965 | 0 | 0 | 0 |
Exercise of stock options, net of settlement of taxes (in shares) | ' | 236 | ' | ' | ' | ' | ' | ' |
Vesting of restricted stock units, net of settlement of taxes | -1,424 | ' | ' | ' | -1,424 | 0 | 0 | 0 |
Stock Repurchased During Period, Shares | ' | -1,998 | ' | -2,000 | ' | ' | ' | ' |
Treasury Stock, Shares, Acquired | ' | ' | ' | 1,998 | ' | ' | ' | ' |
Stock Repurchased During Period, Value | -55,176 | ' | ' | -55,176 | ' | ' | ' | ' |
Vesting of restricted stock units, net of settlement of taxes (in shares) | ' | 67 | ' | ' | ' | ' | ' | ' |
Excess tax benefits related to stock-based compensation | 898 | ' | ' | ' | 898 | 0 | 0 | 0 |
Transfer From Class B Common Shares To Class A Common Shares Value | ' | ' | ' | ' | 0 | ' | ' | ' |
Exchange of Class B Shares for Class A Shares (in shares) | ' | 0 | ' | ' | ' | ' | ' | ' |
Exchange of Class B for Class A (in shares) | ' | ' | 0 | ' | ' | ' | ' | ' |
Dividends paid | -33,786 | ' | ' | ' | ' | -33,786 | ' | ' |
Foreign currency translation | -89 | ' | ' | ' | ' | ' | ' | -89 |
Balance at Aug. 02, 2014 | $991,166 | ' | ' | ($56,776) | $899,404 | $173,620 | ($24,993) | ($89) |
Balance (in shares) at Aug. 02, 2014 | ' | 81,383 | 7,733 | 2,036 | ' | ' | ' | ' |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements of Shareholders' Equity (Parenthetical) (USD $) | 6 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 |
Dividends paid (in dollars per share) | $0.38 | $0.13 |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Tax | $0 | ($5,289) |
Condensed_Consolidated_Stateme4
Condensed Consolidated Statements of Cash Flows (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 |
Cash flows from operating activities: | ' | ' |
Net income | $72,967 | $68,235 |
Income from discontinued operations, net of tax | 358 | 0 |
Income from continuing operations | 72,609 | 68,235 |
Adjustments to reconcile net income (loss) to net cash and equivalents provided by operating activities from continuing operations: | ' | ' |
Depreciation and amortization | 33,923 | 33,079 |
Share-based compensation expense | 6,267 | 5,351 |
Deferred income taxes | -5,080 | 14,817 |
Income (Loss) from Equity Method Investments | -849 | 0 |
Loss on disposal of long-lived assets | 299 | 404 |
Impairment of Long-Lived Assets Held-for-use | 1,266 | 0 |
Amortization of investment discounts and premiums | 5,173 | 4,816 |
Excess tax benefits related to stock-based compensation | -898 | -2,627 |
Settlement of pension | 0 | 14,224 |
Change in working capital, other assets and liabilities: | ' | ' |
Accounts receivable, net | -1,222 | 5,042 |
Inventories | -17,220 | -10,718 |
Prepaid expenses and other current assets | -14,637 | -18,478 |
Accounts payable | 24,341 | 24,745 |
Accrued expenses | -7,881 | 8,409 |
Other | 1,648 | -229 |
Net Cash Provided by (Used in) Operating Activities, Continuing Operations | 97,739 | 147,070 |
Cash flows from investing activities: | ' | ' |
Cash paid for property and equipment | -47,974 | -45,266 |
Purchases of available-for-sale investments | -4,805 | -2,590 |
Purchases of held-to-maturity investments | -53,726 | -251,261 |
Maturities and sales of available-for-sale investments | 26,855 | 26,870 |
Maturities of held-to-maturity investments | 119,229 | 120,121 |
Increase (Decrease) in Restricted Cash | -3,985 | 0 |
Payments to Acquire Equity Method Investments | -25,187 | 0 |
Origination of Notes Receivable from Related Parties | -46,596 | 0 |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations | -36,189 | -152,126 |
Cash flows from financing activities: | ' | ' |
Proceeds from exercise of stock options | 2,965 | 3,317 |
Payments Related to Tax Withholding for Share-based Compensation | -1,424 | -1,560 |
Payments for Repurchase of Common Stock | -55,176 | 0 |
Payments of Debt Issuance Costs | 0 | -242 |
Dividends paid | -33,786 | -11,254 |
Excess tax benefits related to stock-based compensation | 898 | 2,627 |
Net Cash Provided by (Used in) Financing Activities, Continuing Operations | -86,523 | -7,112 |
Net (decrease) in cash and equivalents from continuing operations | -24,973 | -12,168 |
Cash and equivalents, beginning of period | 112,021 | 81,097 |
Cash and equivalents, end of period | 87,406 | 68,929 |
Cash Provided by (Used in) Operating Activities, Discontinued Operations | 358 | 0 |
Net Cash Provided by (Used in) Discontinued Operations | 358 | 0 |
Supplemental disclosures of cash flow information: | ' | ' |
Cash paid during the period for income taxes | 39,483 | 11,349 |
Proceeds from construction and tenant allowances | 8,468 | 13,874 |
Non-cash operating, investing and financing activities: | ' | ' |
Balance of accounts payable and accrued expenses due to property and equipment purchases | $5,800 | $5,326 |
Business_Operations_and_Basis_
Business Operations and Basis of Presentation | 6 Months Ended |
Aug. 02, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Business Operations and Basis of Presentation | ' |
BUSINESS OPERATIONS AND BASIS OF PRESENTATION | |
Business Operations- DSW and its wholly owned subsidiaries are herein referred to collectively as DSW or the “Company”. DSW’s Class A Common Shares are listed on the New York Stock Exchange under the ticker symbol “DSW”. DSW Class B Common Shares are not listed on a stock exchange but are exchangeable for Class A Common Shares at the election of the shareholder. | |
DSW has two reportable segments: the DSW segment, which includes DSW stores and dsw.com, and the Affiliated Business Group ("ABG") segment. DSW offers a wide assortment of brand name dress, casual and athletic footwear and accessories for women, men and kids. As of August 2, 2014, DSW operated a total of 410 DSW stores located in 42 states, the District of Columbia and Puerto Rico, and dsw.com. During the six months ended August 2, 2014, DSW opened 16 new DSW stores. | |
DSW also partners with four other retailers to help build and optimize their footwear businesses. As of August 2, 2014, DSW supplied merchandise to 264 Stein Mart stores and the Stein Mart e-commerce website, 97 Gordmans stores, and one Frugal Fannie’s store. During the six months ended August 2, 2014, DSW added 13 new shoe departments and ceased operations in 6 shoe departments. In April 2014, ABG announced that it will conceptualize, design and operate Yellow Box retail stores, which will offer core fashion sandals, flats, dress shoes, boots and exclusive products. ABG plans to open Yellow Box stores in premier shopping destinations throughout the United States, with the initial phase commencing with three to five store openings in 2014. DSW opened one Yellow Box store in the second quarter of fiscal 2014. | |
Basis of Presentation- The accompanying unaudited condensed consolidated interim financial statements should be read in conjunction with DSW’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 27, 2014 (the “2013 Annual Report”). In the opinion of management, the unaudited condensed consolidated interim financial statements reflect all adjustments, consisting of normal recurring adjustments, which are necessary to present fairly the condensed consolidated financial position, results of operations and cash flows for the periods presented. The condensed consolidated financial statements include the accounts of DSW and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. All amounts are in United States Dollars ("USD"), unless otherwise noted. |
Investment_in_Town_Shoes_Limit
Investment in Town Shoes Limited | 6 Months Ended |
Aug. 02, 2014 | |
Equity Method Investments and Joint Ventures [Abstract] | ' |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | ' |
INVESTMENT IN TOWN SHOES LIMITED | |
On May 12, 2014, DSW announced the closing of its equity investment in Town Shoes Limited ("Town Shoes"), the largest branded footwear and accessories retailer in Canada, for $75.1 million Canadian dollars ("CAD") ($68.9 million USD). DSW Inc. acquired a 49.2% interest in Town Shoes from certain clients of Alberta Investment Management Corporation and other minority shareholders. DSW Inc.'s initial stake provides 50% voting control and board representation equal to the primary remaining shareholder, Callisto Capital. Additionally, DSW Inc. will have the right to purchase the balance of Town Shoes from the remaining shareholders, including Callisto Capital, after four years at a pre-determined earnings before interest, tax, depreciation and amortization ("EBITDA") multiple. Callisto, on behalf of itself and the remaining shareholders, has the right to put the balance of the company to DSW Inc. after three years at a pre-determined EBITDA multiple. | |
Equity Method Investment in Town Shoes- DSW accounts for its investment in Town Shoes, where it exercises significant influence, but does not have control, using the equity method. Under the equity method of accounting, DSW recognizes its share of Town Shoes' net income or loss. The difference between DSW's purchase price and DSW's interest in Town Shoes' underlying net equity is comprised of intangible assets with both definite and indefinite lives. The definite lived assets are favorable and unfavorable leases that are being amortized over the lives of the leases. DSW’s share of net income or loss of Town Shoes, DSW's payment-in-kind interest from the note receivable from Town Shoes and amortization of the definite lived intangible assets are included in Income from Town Shoes on the consolidated statements of operations and comprehensive income. Related income tax effects are included in the provision for income taxes. DSW’s investment in Town Shoes is required to be tested for impairment if there is determined to be an other than temporary loss in value. | |
DSW's investment in Town Shoes includes the cash paid for Town Shoes of $22.3 million and the transaction costs related to the investment of $2.9 million for total cash paid of $25.2 million. The investment in Town Shoes was reduced by DSW's portion of Town Shoes' net income or loss for the quarter and the amount of amortization of the definite lived intangible assets for the second quarter of fiscal 2014. The note receivable was purchased for $46.6 million and includes the payment-in-kind interest accrued to date, including the interest income for the second quarter of fiscal 2014 and foreign currency remeasurement. The note is an unsecured subordinated note that was issued on February 14, 2012 that earns payment-in-kind interest at 12% and matures on February 14, 2022. | |
License Agreement- In May 2014, DSW entered into a licensing agreement with Town Shoes, which allows Town Shoes to use the DSW Designer Shoe Warehouse tradename for their new larger concept Canadian stores. Town Shoes pays DSW a royalty fee based on a percentage of net sales. The first two stores opened in August 2014. |
Significant_Accounting_Policie
Significant Accounting Policies | 6 Months Ended |
Aug. 02, 2014 | |
Accounting Policies [Abstract] | ' |
New Accounting Pronouncements | ' |
SIGNIFICANT ACCOUNTING POLICIES | |
A description of DSW's significant accounting policies is included in DSW's 2013 Annual Report. | |
Co-Branded Credit Card- On April 30, 2014, DSW began to issue co-branded credit cards under a seven year agreement with an issuing bank, which allows members to earn points through purchases at DSW stores and anywhere that Visa is accepted. DSW provides marketing support for the co-branded credit card program. The issuing bank is the sole owner of the credit card accounts. | |
The revenue under this agreement is recorded in net sales. DSW received an upfront signing bonus from the issuing bank, which is recognized on a straight-line basis over the expected life of the relationship. DSW receives ongoing payments from the issuing bank for new accounts activated as well as payments for usage of the cards, which will be recognized over the life of the relationship on a cumulative catch-up basis. | |
Consistent with the current accounting for the customer loyalty program, the cost associated with rewards points and certificates is accrued as the points are earned by the cardholder and is recorded in cost of sales. Administrative costs related to the co-branded credit card program, including payroll, store expenses, marketing expenses, depreciation and other direct costs, are recorded in operating expenses. | |
Foreign Currency Translation and Remeasurement- In anticipation of the equity investment in Town Shoes, DSW purchased $75 million CAD, which equated to approximately $69 million USD at the purchase date. As DSW's functional currency is USD, the purchase of CAD resulted in a foreign currency exchange gain of $0.6 million. Gains or losses resulting from foreign currency transactions are included in operating expenses, whereas related translation adjustments are reported as an element of other comprehensive income, both of which are included in the condensed consolidated statements of operations and comprehensive income. | |
The note receivable and the payment-in-kind interest from Town Shoes are denominated in CAD. The functional and reporting currency of Town Shoes is CAD. As USD is the functional currency of the entity that holds DSW's investment in and note receivable from Town Shoes, DSW is required to remeasure these balances into USD balances. The income from Town Shoes was remeasured into USD at the average exchange rate for the period. The note receivable from Town Shoes was remeasured in USD at the exchange rate prevailing at the balance sheet date. As DSW has designated the note receivable from Town Shoes as an investment of a long-term investment nature, DSW records gains and losses arising from changes in exchange rates in comprehensive income. | |
Recent Accounting Pronouncements- In May 2014, the Financial Accounting Standards Board ("FASB") and the International Accounting Standards Board released a standard on the recognition of revenue from contracts with customers that is designed to create greater comparability for financial statement users across industries and jurisdictions. Under the new standard, companies will recognize revenue to depict the transfer of goods or services to customers in amounts that reflect the payment to which a company expects to be entitled in exchange for those goods or services. The standard also will require enhanced disclosures and provide more comprehensive guidance for transactions such as service revenue and contract modifications. The standard will take effect for public companies for annual reporting periods beginning after December 15, 2016, including interim reporting periods. DSW is currently in process of evaluating the impact of the new standard on its financial statements and disclosures. | |
In June 2014, the FASB issued final guidance that a performance target that affects vesting of a share-based payment and that could be achieved after the requisite service period is a performance condition under Accounting Standards Codification ("ASC") 718, Stock Compensation. As a result, the target is not reflected in the estimation of the award's grant date fair value. Compensation costs for such an award would be recognized over the required service period, if it is probable that the performance condition will be achieved. The guidance is effective for all entities for annual reporting periods beginning after December 15, 2015 and interim periods within those annual periods. Early adoption is permitted. The guidance should be applied on a prospective basis to awards that are granted or modified on or after the effective date. DSW will not be affected by this guidance as DSW currently accounts for these awards in a manner consistent with the new guidance. |
Related_Party_Transactions
Related Party Transactions | 6 Months Ended |
Aug. 02, 2014 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
RELATED PARTY TRANSACTIONS | |
Schottenstein Affiliates- As of August 2, 2014, the Schottenstein Affiliates, entities owned by or controlled by Jay L. Schottenstein, the executive chairman of the DSW Board of Directors, and members of his family, owned approximately 17% of DSW’s outstanding Common Shares representing approximately 49% of the combined voting power of DSW’s outstanding Common Shares. As of August 2, 2014, the Schottenstein Affiliates beneficially owned 7.7 million Class A Common Shares and 7.7 million Class B Common Shares. | |
DSW leases certain store locations owned by Schottenstein Affiliates and purchases services and products from Schottenstein Affiliates. Accounts receivable from and payable to affiliates principally result from commercial transactions or affiliate transactions and normally settle in the form of cash in 30 to 60 days. Related party balances are disclosed on the condensed consolidated balance sheets. |
Earnings_per_Share_and_Shareho
Earnings per Share and Shareholders' Equity | 6 Months Ended | |||||||||||
Aug. 02, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Earnings per Share and Shareholders' Equity | ' | |||||||||||
EARNINGS PER SHARE AND SHAREHOLDERS' EQUITY | ||||||||||||
Earnings per Share- Basic earnings per share is based on net income and a simple weighted-average of common shares outstanding. Diluted earnings per share reflects the potential dilution of common shares adjusted for outstanding DSW stock options, restricted stock units ("RSU") and performance-based restricted stock units ("PSU") calculated using the treasury stock method. The following table is a reconciliation of the number of shares used in the calculation of diluted earnings per share computations for the periods presented: | ||||||||||||
Three months ended | Six months ended | |||||||||||
August 2, 2014 | August 3, 2013 | August 2, 2014 | August 3, 2013 | |||||||||
(in thousands) | ||||||||||||
Basic shares | 90,120 | 90,380 | 90,472 | 90,248 | ||||||||
Assumed exercise of dilutive stock options | 836 | 1,210 | 952 | 1,212 | ||||||||
Assumed exercise of dilutive RSUs and PSUs | 170 | 206 | 194 | 218 | ||||||||
Diluted shares | 91,126 | 91,796 | 91,618 | 91,678 | ||||||||
Options, RSUs and PSUs- For the three and six months ended August 2, 2014 and August 3, 2013, the amount of potential common shares that were not included in the computation of dilutive earnings per share because the effect would be anti-dilutive was approximately 1.4 million and 0.9 million for the three months ended, respectively, and 1.2 million and 0.9 million for the six months ended, respectively. | ||||||||||||
Shareholders' Equity- On May 29, 2013, DSW announced that its Board of Directors had authorized the Company to extend the share repurchase program of up to $100 million of DSW Common Shares. The share repurchase program may be suspended, modified or discontinued at any time, and the Company has no obligation to repurchase any amount of its common shares under the program. During the six months ended August 2, 2014, DSW repurchased 2.0 million Class A Common Shares at a cost of $55.2 million. As of August 2, 2014, DSW has repurchased a total of 2.0 million Class A Common Shares at a cost of $56.8 million. | ||||||||||||
Two-for-One Stock Split- On October 14, 2013, the shareholders of DSW approved a two-for-one stock split of DSW's Common Shares. The stock split became effective on November 4, 2013 and provided for the issuance of one Class A Common Share for each Class A and Class B Common Share outstanding. |
Stockbased_Compensation
Stock-based Compensation | 6 Months Ended | |||||||
Aug. 02, 2014 | ||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||
Stock-based Compensation | ' | |||||||
STOCK-BASED COMPENSATION | ||||||||
The DSW 2005 Equity Incentive Plan ("the 2005 Plan") provides for the issuance of equity awards to purchase up to 11.2 million DSW Common Shares. The 2005 Plan covers stock options, RSUs, PSUs and director stock units. Eligible recipients include key employees of DSW and affiliates, as well as directors of DSW. Options generally vest 20% per year on a cumulative basis. Options granted under the 2005 Plan generally remain exercisable for a period of ten years from the date of grant. In June 2014, DSW shareholders approved the 2014 Equity Incentive Plan ("the 2014 Plan") which provides for the issuance of an additional 8.5 million shares of our Class A Common Shares. DSW will begin issuing shares under the 2014 Plan after the 2005 Plan expires in fiscal 2015. | ||||||||
Stock-Based Compensation Expense- The following table summarizes DSW's stock-based compensation expense: | ||||||||
Six months ended | ||||||||
August 2, 2014 | August 3, 2013 | |||||||
(in thousands) | ||||||||
Stock Options | $ | 3,315 | $ | 3,154 | ||||
Restricted Stock Units | 1,225 | 919 | ||||||
Performance-Based Restricted Stock Units | 564 | 209 | ||||||
Director Stock Units | 1,163 | 1,069 | ||||||
Total | $ | 6,267 | $ | 5,351 | ||||
Stock Options- The following table summarizes DSW’s stock option activity: | ||||||||
Six months ended | ||||||||
August 2, 2014 | ||||||||
(in thousands) | ||||||||
Outstanding, beginning of period | 3,347 | |||||||
Granted | 407 | |||||||
Exercised | (236 | ) | ||||||
Forfeited | (100 | ) | ||||||
Outstanding, end of period | 3,418 | |||||||
Exercisable, end of period | 1,953 | |||||||
As of August 2, 2014, the total compensation cost related to nonvested DSW stock options not yet recognized was approximately $14.8 million with a weighted-average expense recognition period remaining of 2.1 years. The following table illustrates the weighted-average assumptions used in the Black-Scholes pricing model for DSW options granted in each of the periods presented: | ||||||||
Six months ended | ||||||||
Assumptions: | August 2, 2014 | August 3, 2013 | ||||||
Risk-free interest rate | 1.90% | 0.70% | ||||||
Expected volatility of DSW common stock | 45.70% | 53.40% | ||||||
Expected option term | 5.3 years | 4.7 years | ||||||
Expected dividend yield | 2.30% | 1.30% | ||||||
Other Data: | ||||||||
Weighted average grant date fair value | $12.41 | $12.85 | ||||||
Restricted Stock Units ("RSU")- The following table summarizes DSW’s RSU activity: | ||||||||
Six months ended | ||||||||
August 2, 2014 | ||||||||
(in thousands) | ||||||||
Outstanding, beginning of period | 381 | |||||||
Granted | 83 | |||||||
Vested | (105 | ) | ||||||
Forfeited | (23 | ) | ||||||
Outstanding, end of period | 336 | |||||||
As of August 2, 2014, the total compensation cost related to nonvested RSUs not yet recognized was approximately $5.9 million with a weighted-average expense recognition period remaining of 2.0 years. | ||||||||
Performance-Based Restricted Stock Units ("PSU")- The following table summarizes DSW’s PSU activity: | ||||||||
Six months ended | ||||||||
August 2, 2014 | ||||||||
(in thousands) | ||||||||
Outstanding, beginning of period | 69 | |||||||
Granted | 86 | |||||||
Vested | — | |||||||
Forfeited | (5 | ) | ||||||
Outstanding, end of period | 150 | |||||||
As of August 2, 2014, the total compensation cost related to nonvested PSUs not yet recognized was approximately $4.0 million with a weighted-average expense recognition period remaining of 2.3 years. | ||||||||
Director Stock Units- DSW issues stock units to directors who are not employees of DSW. The following table summarizes DSW’s director stock unit activity: | ||||||||
Six months ended | ||||||||
August 2, 2014 | ||||||||
(in thousands) | ||||||||
Outstanding, beginning of period | 330 | |||||||
Granted | 45 | |||||||
Exercised | (19 | ) | ||||||
Outstanding, end of period | 356 | |||||||
Stock Appreciation Rights (“SARs”)- The 2005 Plan also covers the issuance of SARs. DSW entered into a SARs agreement with a non-employee on June 16, 2014, whereas DSW granted a total of 0.5 million SARs in two equal tranches with respect to DSW’s Class A Common Shares. The SARs have an expiration date of June 15, 2017, and will vest and become exercisable on the second anniversary of the Grant Date. Each SAR entitles the Participant to receive, upon exercise, an amount in cash equal to the excess of the reported closing price of a Class A Common Share on the date of exercise over the applicable Exercise Price. The exercise price per the First Tranche SAR is $25.24 and the exercise price per the Second Tranche SAR is $27.38. For the six months ended August 2, 2014, the total expense related to SARs was approximately $0.2 million. | ||||||||
Under ASC 505-50, Equity-Based Payments to Non-Employees, share-based payment transactions with non-employees shall be measured at the fair value of the consideration received or the fair value of the equity instruments issued. DSW estimated the initial fair value of the SARs using the Black-Scholes model and remeasures the SARs each period using the Black-Scholes model. The SARs are classified as share-based liabilities as the instruments are required to be settled in cash. As the instruments are required to be settled in cash, the instruments are not included in diluted shares for the purposes of calculating earnings per share. The compensation expense of the SARs will be recognized over the vesting period as that is the period that DSW is receiving the services. After the vesting period is complete, DSW will continue to remeasure the SARs using the Black-Scholes model as the instruments become subject to ASC 815, Derivatives and Hedging. |
Investments
Investments | 6 Months Ended | |||||||||||||||||||||||
Aug. 02, 2014 | ||||||||||||||||||||||||
Investments [Abstract] | ' | |||||||||||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ' | |||||||||||||||||||||||
INVESTMENTS | ||||||||||||||||||||||||
The majority of DSW’s available-for-sale investments were primarily municipal bonds with renewal dates of every 7 days. Held-to-maturity investments are primarily corporate bonds, municipal bonds and municipal term notes and are held at amortized cost, which approximates fair value. Long-term investments have maturities longer than one year but shorter than three years and are classified as held-to-maturity. DSW accounts for its purchases of investments on the trade date of the investment. The following table discloses the major categories of DSW’s investments as of the periods presented: | ||||||||||||||||||||||||
Short-term investments | Long-term investments | |||||||||||||||||||||||
August 2, 2014 | February 1, 2014 | August 3, 2013 | August 2, 2014 | February 1, 2014 | August 3, 2013 | |||||||||||||||||||
Available-for-sale: | (in thousands) | |||||||||||||||||||||||
Bonds | — | $ | 22,050 | — | — | — | — | |||||||||||||||||
Held-to-maturity: | ||||||||||||||||||||||||
Term notes and bonds | $ | 151,647 | 202,048 | $ | 200,238 | $ | 225,972 | $ | 243,188 | $ | 230,599 | |||||||||||||
Total investments | $ | 151,647 | $ | 224,098 | $ | 200,238 | $ | 225,972 | $ | 243,188 | $ | 230,599 | ||||||||||||
As of August 2, 2014, February 1, 2014 and August 3, 2013, short-term investments had gross holding gains of $0.1 million, $0.2 million and $0.2 million, respectively, and gross holding losses of less than $0.1 million, $0.1 million and $0.1 million, respectively. As of August 2, 2014, February 1, 2014 and August 3, 2013, long-term investments had gross holding gains of $0.6 million, $0.6 million and $0.1 million, respectively, and gross holding losses of $0.2 million, $0.4 million and $1.1 million, respectively. |
Fair_Value_Measurements
Fair Value Measurements | 6 Months Ended | |||||||||||||||||||||||||||||||||||
Aug. 02, 2014 | ||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Fair Value Measurements | ' | |||||||||||||||||||||||||||||||||||
FAIR VALUE MEASUREMENTS | ||||||||||||||||||||||||||||||||||||
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Therefore, fair value is a market-based measurement based on assumptions of the market participants. As a basis for these assumptions, DSW classifies its fair value measurements under the following fair value hierarchy: | ||||||||||||||||||||||||||||||||||||
• | Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that are publicly accessible. Active markets have frequent transactions with enough volume to provide ongoing pricing information. | |||||||||||||||||||||||||||||||||||
• | Level 2 inputs are other than level 1 inputs that are directly or indirectly observable. These can include unadjusted quoted prices for similar assets or liabilities in active markets, unadjusted quoted prices for identical assets or liabilities in inactive markets or other observable inputs. | |||||||||||||||||||||||||||||||||||
• | Level 3 inputs are unobservable inputs. | |||||||||||||||||||||||||||||||||||
Financial Assets- The following table presents financial assets at fair value as of the periods presented: | ||||||||||||||||||||||||||||||||||||
As of August 2, 2014 | As of February 1, 2014 | As of August 3, 2013 | ||||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Total | Level 1 | Level 2 | Total | Level 1 | Level 2 | ||||||||||||||||||||||||||||
Financial assets: | (in thousands) | |||||||||||||||||||||||||||||||||||
Cash and equivalents (a) | $ | 87,406 | $ | 87,406 | — | $ | 112,021 | $ | 112,021 | — | $ | 68,929 | $ | 68,929 | — | |||||||||||||||||||||
Short-term investments (b) | 151,718 | — | $ | 151,718 | 224,167 | — | $ | 224,167 | 200,398 | — | $ | 200,398 | ||||||||||||||||||||||||
Long-term investments (b) | 226,461 | — | 226,461 | 243,373 | — | 243,373 | 229,590 | — | 229,590 | |||||||||||||||||||||||||||
Note receivable from Town Shoes (c) | 47,755 | — | 47,755 | — | — | — | — | — | — | |||||||||||||||||||||||||||
Total financial assets | $ | 513,340 | $ | 87,406 | $ | 425,934 | $ | 579,561 | $ | 112,021 | $ | 467,540 | $ | 498,917 | $ | 68,929 | $ | 429,988 | ||||||||||||||||||
There are no financial assets valued using level 3 inputs for the periods presented. | ||||||||||||||||||||||||||||||||||||
(a) Cash and equivalents primarily represent cash deposits and investments in money market funds held with financial institutions, as well as credit card receivables that generally settle within three days. The carrying amount approximates fair value because of the relatively short average maturity of the instruments. | ||||||||||||||||||||||||||||||||||||
(b) Available-for-sale and held-to maturity investments are valued using a market-based approach using level 2 inputs such as prices of similar assets in active markets. | ||||||||||||||||||||||||||||||||||||
(c) The shareholder note is valued based on similar assets in active markets. | ||||||||||||||||||||||||||||||||||||
Non-Financial Assets- DSW periodically evaluates the carrying amount of its long-lived assets, primarily property and equipment, and finite-lived intangible assets when events and circumstances warrant such a review to ascertain if any assets have been impaired. For the six months ended August 2, 2014, there were impairments of $1.3 million recorded in cost of sales related to three stores, where the future expected cash flows will not recover the carrying amount of their long-lived assets. In two of the stores, DSW determined that the carrying value exceeded the expected future cash flows and recorded partial impairments after determining fair value based on the discounted future cash flow analysis using a discount rate determined by management (level 3 inputs). The remaining carrying value of the assets used in the stores, net of the related tenant allowance, subsequent to the impairment is $1.3 million as of August 2, 2014. For the third store, DSW recorded a full impairment, net of the related tenant allowance. There were no significant non-recurring fair value measurements recorded for the six months ended August 3, 2013. |
Debt_Obligations
Debt Obligations | 6 Months Ended |
Aug. 02, 2014 | |
Debt Disclosure [Abstract] | ' |
Debt Obligations and Warrant Liabilities | ' |
DEBT OBLIGATIONS | |
DSW $50 Million Secured Credit Facility- On August 2, 2013, DSW entered into a $50 million secured revolving credit agreement (the "Credit Facility"), which has a term of 5 years and will expire on July 31, 2018. The Credit Facility may be increased by up to $100 million upon DSW's request and the increase would be subject to lender availability, DSW's financial condition and compliance with covenants. The Credit Facility, together with the Letter of Credit Agreement (defined below), amended and restated DSW's prior credit facility, dated June 30, 2010. The Credit Facility is secured by a lien on substantially all of DSW's personal property assets and its subsidiaries with certain exclusions and may be used to provide funds for general corporate purposes, to provide for DSW's ongoing working capital requirements and to make permitted acquisitions. The Credit Facility contains restrictive covenants relating to DSW's management and the operation of DSW's business. These covenants, among other things, limit or restrict DSW's ability to grant liens on its assets, limit its ability to incur additional indebtedness, limit its ability to enter into transactions with affiliates and limit its ability to merge or consolidate with another entity. The Credit Facility also requires that DSW meet the minimum cash and short-term investments requirement of $125 million, as defined in the Credit Facility. An additional covenant limits payments for capital expenditures to $200 million in any fiscal year. DSW paid $48.0 million for capital expenditures for the six months ended August 2, 2014. | |
As of August 2, 2014, February 1, 2014 and August 3, 2013, DSW had no outstanding borrowings under the facility and had availability under the facility of $50.0 million, $49.4 million and $33.9 million, respectively. DSW had no outstanding letters of credit under the credit facility as of August 2, 2014, and DSW had letters of credit of $0.6 million and $16.1 million under the credit facility as of February 1, 2014 and August 3, 2013, respectively. | |
DSW $50 Million Letter of Credit Agreement- Also on August 2, 2013, DSW entered into a letter of credit agreement (the “Letter of Credit Agreement”). The Letter of Credit Agreement provides for the issuance of letters of credit up to $50 million, with a term of five years that will expire on August 2, 2018. The facility for the issuance of letters of credit is secured by a cash collateral account containing cash in an amount equal to 103% of the face amount of any letter of credit extension (105% for extensions denominated in foreign currency) and is used for general corporate purposes. | |
As of August 2, 2014 and February 1, 2014, DSW had $7.3 million and $5.6 million, respectively, in outstanding letters of credit and $10.1 million and $6.1 million, respectively, in restricted cash on deposit under the Letter of Credit Agreement. The restricted cash balance is recorded in prepaid expenses and other current assets on the condensed consolidated balance sheets. |
Property_and_Equipment_Net
Property and Equipment, Net | 6 Months Ended | ||||||||||||
Aug. 02, 2014 | |||||||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||||||
Property and equipment, net | ' | ||||||||||||
PROPERTY AND EQUIPMENT, NET | |||||||||||||
The balance sheet caption "Property and equipment, net" was comprised of the following for the periods presented: | |||||||||||||
August 2, 2014 | February 1, 2014 | August 3, 2013 | |||||||||||
(in thousands) | |||||||||||||
Land | $ | 1,110 | $ | 1,110 | $ | 1,110 | |||||||
Furniture, fixtures and equipment | 413,014 | 387,913 | 366,605 | ||||||||||
Buildings, building and leasehold improvements | 340,923 | 325,340 | 309,599 | ||||||||||
Total property and equipment | 755,047 | 714,363 | 677,314 | ||||||||||
Accumulated depreciation and amortization | (423,778 | ) | (395,743 | ) | (366,940 | ) | |||||||
Property and equipment, net | $ | 331,269 | $ | 318,620 | $ | 310,374 | |||||||
Accrued_Expenses
Accrued Expenses | 6 Months Ended | ||||||||||||
Aug. 02, 2014 | |||||||||||||
Payables and Accruals [Abstract] | ' | ||||||||||||
Accrued Expenses | ' | ||||||||||||
ACCRUED EXPENSES | |||||||||||||
The balance sheet caption "Accrued expenses" was comprised of the following for the periods presented: | |||||||||||||
August 2, 2014 | February 1, 2014 | August 3, 2013 | |||||||||||
(in thousands) | |||||||||||||
Gift cards and merchandise credits | $ | 33,158 | $ | 37,651 | $ | 30,007 | |||||||
Compensation | 8,463 | 18,043 | 13,509 | ||||||||||
Taxes | 18,742 | 13,581 | 33,540 | ||||||||||
Customer loyalty program | 15,566 | 19,547 | 20,195 | ||||||||||
Other | 31,194 | 26,875 | 29,900 | ||||||||||
Total accrued expenses | $ | 107,123 | $ | 115,697 | $ | 127,151 | |||||||
NonCurrent_Liabilities
Non-Current Liabilities | 6 Months Ended | ||||||||||||
Aug. 02, 2014 | |||||||||||||
Other Liabilities Disclosure [Abstract] | ' | ||||||||||||
Other Non-Current Liabilities | ' | ||||||||||||
NON-CURRENT LIABILITIES | |||||||||||||
The balance sheet caption "Non-current liabilities" was comprised of the following for the periods presented: | |||||||||||||
August 2, 2014 | February 1, 2014 | August 3, 2013 | |||||||||||
(in thousands) | |||||||||||||
Construction and tenant allowances | $ | 86,726 | $ | 84,464 | $ | 78,668 | |||||||
Deferred rent | 38,159 | 37,985 | 37,304 | ||||||||||
Other | 17,594 | 15,849 | 15,685 | ||||||||||
Total non-current liabilities | $ | 142,479 | $ | 138,298 | $ | 131,657 | |||||||
Segment_Reporting
Segment Reporting | 6 Months Ended | |||||||||||||||
Aug. 02, 2014 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Segment Reporting Disclosure [Text Block] | ' | |||||||||||||||
SEGMENT REPORTING | ||||||||||||||||
The reportable segments are the DSW segment, which includes DSW stores and dsw.com, and the ABG segment. DSW has identified such segments based on internal management reporting and responsibilities and measures segment profit as gross profit, which is defined as net sales less cost of sales. All operations are located in the United States and its territories. The goodwill balance of $25.9 million as of August 2, 2014, February 1, 2014 and August 3, 2013 is recorded in the DSW segment related to the DSW stores. In order to reconcile to the condensed consolidated financial statements, DSW includes Other, which consists of assets, liabilities and expenses of the former Retail Ventures, Inc. ("Retail Ventures" or "RVI") (see Note 15) and the equity investment in Town Shoes (see Note 2). | ||||||||||||||||
DSW segment | ABG segment | Other | Total | |||||||||||||
(in thousands) | ||||||||||||||||
Three months ended August 2, 2014 | ||||||||||||||||
Net sales | $ | 553,814 | $ | 33,282 | — | $ | 587,096 | |||||||||
Gross profit | 166,080 | 5,824 | — | 171,904 | ||||||||||||
Capital expenditures | 21,602 | 1,131 | — | 22,733 | ||||||||||||
Three months ended August 3, 2013 | ||||||||||||||||
Net sales | $ | 530,921 | $ | 31,142 | — | $ | 562,063 | |||||||||
Gross profit | 177,524 | 5,918 | — | 183,442 | ||||||||||||
Capital expenditures | 23,349 | 68 | — | 23,417 | ||||||||||||
Six months ended August 2, 2014 | ||||||||||||||||
Net sales | $ | 1,112,680 | $ | 73,363 | — | $ | 1,186,043 | |||||||||
Gross profit | 344,331 | 15,578 | — | 359,909 | ||||||||||||
Capital expenditures | 46,782 | 1,354 | — | 48,136 | ||||||||||||
Six months ended August 3, 2013 | ||||||||||||||||
Net sales | $ | 1,093,845 | $ | 69,580 | — | $ | 1,163,425 | |||||||||
Gross profit | 351,461 | 14,978 | — | 366,439 | ||||||||||||
Capital expenditures | 42,980 | 238 | — | 43,218 | ||||||||||||
Total Assets | ||||||||||||||||
As of August 2, 2014 | $ | 1,265,670 | $ | 95,155 | $ | 72,942 | $ | 1,433,767 | ||||||||
As of February 1, 2014 | 1,340,629 | 80,221 | 394 | 1,421,244 | ||||||||||||
As of August 3, 2013 | 1,265,807 | 99,970 | 396 | 1,366,173 | ||||||||||||
Income_Taxes
Income Taxes | 6 Months Ended |
Aug. 02, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Income Tax Disclosure [Text Block] | ' |
INCOME TAXES | |
The provision for income taxes is based on the current estimate of the annual effective tax rate and is adjusted as necessary for quarterly events. For the three and six months ended August 2, 2014, the effective tax rate of 38.0% and 37.9%, respectively, reflects the impact of federal, state and local, and foreign taxes. For the three and six months ended August 3, 2013, the effective tax rate of 38.1% and 37.4%, respectively, reflects the impact of federal, state and local taxes. |
Commitments_and_Contingencies
Commitments and Contingencies | 6 Months Ended |
Aug. 02, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
COMMITMENTS AND CONTINGENCIES | |
Legal Proceedings- DSW is involved in various legal proceedings that are incidental to the conduct of its business. Although it is not possible to predict with certainty the eventual outcome of any litigation, in the opinion of management, the amount of any potential liability with respect to current legal proceedings will not be material to DSW’s results of operations or financial condition. As additional information becomes available, DSW will assess the potential liability related to its pending litigation and revise the estimates as needed. | |
Merger with Retail Ventures, Inc. ("the Merger")- On May 26, 2011, Retail Ventures merged with and into DSW MS LLC (“Merger Sub”), with Merger Sub surviving the Merger and continuing as a wholly owned subsidiary of DSW. Upon the closing of the Merger, each outstanding RVI common share was converted into 0.435 DSW Class A Common Shares, unless the holder of each outstanding RVI common share properly and timely elected to receive a like amount of DSW Class B Common Shares. | |
As of the effective time of the Merger, a subsidiary of DSW assumed the obligations under RVI’s guarantees related to the discontinued operations of Filene's Basement and Value City Department Stores. In the second quarter of fiscal 2014, the Company received $1.1 million from the final distribution from the Filene's Basement bankruptcy debtor's estates related to Filene's Basement's bankruptcy in 2009, a portion of which was related to discontinued operations. DSW may become subject to various risks related to guarantees and in certain circumstances may be responsible for certain other liabilities related to these discontinued operations. DSW records its best estimate of a loss when the loss is considered probable. When a liability is probable and there is a range of estimated loss, DSW records the most likely estimated liability related to the guarantee. Additionally, if the underlying obligations are paid down or otherwise liquidated by the primary obligor, subject to certain statutory requirements, DSW will recognize a reduction of the associated liability. | |
Filene’s Basement- Following the Merger, a subsidiary of DSW, Merger Sub, assumed RVI’s obligations under lease guarantees for certain Filene’s Basement retail store locations for leases assumed by Syms Corp in its purchase of Filene’s Basement in fiscal 2009. As of August 2, 2014, the estimated liability was $3.3 million for the one remaining guarantee, which is described in more detail below: | |
Union Square, NY- RVI guaranteed Filene’s Basement’s obligations for the Union Square location when RVI owned Filene’s Basement, and the landlord at the Union Square location has brought a lawsuit against Merger Sub in the Supreme Court of the State of New York ("the Court") seeking payment under the guarantee. DSW believes that the liability under the guarantee may be limited based on the ultimate disposition of the lease and/or the guarantee may not be enforceable. In April 2012, the landlord advised DSW that it had signed a lease with a tenant and asserted that DSW is responsible for shortfalls and rent while the space was unoccupied. In April 2013, the Court denied the landlord's motion for summary judgment. The landlord appealed the court's denial of summary judgment. Oral arguments for the appeal were held in February 2014. The expected range of loss is from zero to $7.0 million. | |
Contractual Obligations- As of August 2, 2014, DSW has entered into various construction commitments, including capital items to be purchased for projects that were under construction, or for which a lease has been signed. DSW’s obligations under these commitments were $6.0 million as of August 2, 2014. In addition, DSW has signed lease agreements for 37 new DSW store locations, expected to be opened in fiscal 2014, 2015 and 2016, and 2 Yellow Box store locations, expected to be opened in fiscal 2014, with total annual rent of $11.9 million. In connection with the new lease agreements, DSW will receive a total of $18.0 million of construction and tenant allowance reimbursements for expenditures at these locations. |
Pension_and_Other_PostRetireme
Pension and Other Post-Retirement Benefits | 6 Months Ended | ||||||
Aug. 03, 2013 | |||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||
Pension and Other Postretirement Benefits Disclosure [Text Block] | ' | ||||||
PENSION PLAN | |||||||
Merger Sub was responsible for the Filene’s Basement defined benefit pension plan (the "plan") that RVI assumed as part of its sale of Filene's Basement in fiscal 2009. On December 1, 2011, DSW adopted a plan amendment to terminate the plan with a proposed termination date of March 11, 2012. In April 2013, DSW received a favorable determination letter from the Internal Revenue Service, began the process of obtaining participant settlement elections and was required to disburse the funds within 120 days of the receipt of the favorable determination letter. DSW contributed a final contribution of $5 million to fully fund the plan. In the second quarter of fiscal 2013, DSW distributed all plan assets to participants through lump-sum distributions and a nonparticipating annuity contract. The settlement of the pension plan resulted in a settlement loss of $8.9 million, which is net of a tax benefit of $5.3 million, which was reclassified from other comprehensive loss to net income in the second quarter of fiscal 2013. | |||||||
The following table provides additional detail regarding the composition of and reclassification adjustments out of accumulated other comprehensive loss for the period presented: | |||||||
Six months ended August 3, 2013 | Location on Condensed Consolidated Statement of Operations and Comprehensive Income | ||||||
(in thousands) | |||||||
Beginning Balance | $ | (8,758 | ) | ||||
Reclassification to net income due to settlement of the pension plan | 14,224 | Operating expenses | |||||
Tax benefit of the settlement of the pension plan | (5,289 | ) | Income tax provision | ||||
Change in minimum pension liability | (177 | ) | Operating expenses | ||||
Ending balance | $ | — | |||||
Subsequent_Events
Subsequent Events | 6 Months Ended |
Aug. 02, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
SUBSEQUENT EVENTS | |
Dividends- On August 26, 2014, DSW announced that the DSW Board of Directors declared a quarterly cash dividend of $0.1875 per share. The quarterly dividend will be paid on September 30, 2014 to shareholders of record at the close of business on September 19, 2014. |
Business_Operations_and_Basis_1
Business Operations and Basis of Presentation Business Operations and Basis of Presentation (Policies) | 6 Months Ended |
Aug. 02, 2014 | |
Business Operations and Basis of Presentation [Abstract] | ' |
Basis of Accounting, Policy [Policy Text Block] | ' |
Basis of Presentation- The accompanying unaudited condensed consolidated interim financial statements should be read in conjunction with DSW’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 27, 2014 (the “2013 Annual Report”). In the opinion of management, the unaudited condensed consolidated interim financial statements reflect all adjustments, consisting of normal recurring adjustments, which are necessary to present fairly the condensed consolidated financial position, results of operations and cash flows for the periods presented. The condensed consolidated financial statements include the accounts of DSW and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. All amounts are in United States Dollars ("USD"), unless otherwise noted. |
Investment_in_Town_Shoes_Limit1
Investment in Town Shoes Limited Investment in Town Shoes Limited (Policies) | 6 Months Ended |
Aug. 02, 2014 | |
Equity Method Investments and Joint Ventures [Abstract] | ' |
Equity Method Investments, Policy [Policy Text Block] | ' |
Equity Method Investment in Town Shoes- DSW accounts for its investment in Town Shoes, where it exercises significant influence, but does not have control, using the equity method. Under the equity method of accounting, DSW recognizes its share of Town Shoes' net income or loss. The difference between DSW's purchase price and DSW's interest in Town Shoes' underlying net equity is comprised of intangible assets with both definite and indefinite lives. The definite lived assets are favorable and unfavorable leases that are being amortized over the lives of the leases. DSW’s share of net income or loss of Town Shoes, DSW's payment-in-kind interest from the note receivable from Town Shoes and amortization of the definite lived intangible assets are included in Income from Town Shoes on the consolidated statements of operations and comprehensive income. Related income tax effects are included in the provision for income taxes. DSW’s investment in Town Shoes is required to be tested for impairment if there is determined to be an other than temporary loss in value. |
Significant_Accounting_Policie1
Significant Accounting Policies (Policies) | 6 Months Ended |
Aug. 02, 2014 | |
Accounting Policies [Abstract] | ' |
Revenue Recognition, Deferred Revenue [Policy Text Block] | ' |
Co-Branded Credit Card- On April 30, 2014, DSW began to issue co-branded credit cards under a seven year agreement with an issuing bank, which allows members to earn points through purchases at DSW stores and anywhere that Visa is accepted. DSW provides marketing support for the co-branded credit card program. The issuing bank is the sole owner of the credit card accounts. | |
The revenue under this agreement is recorded in net sales. DSW received an upfront signing bonus from the issuing bank, which is recognized on a straight-line basis over the expected life of the relationship. DSW receives ongoing payments from the issuing bank for new accounts activated as well as payments for usage of the cards, which will be recognized over the life of the relationship on a cumulative catch-up basis. | |
Consistent with the current accounting for the customer loyalty program, the cost associated with rewards points and certificates is accrued as the points are earned by the cardholder and is recorded in cost of sales. Administrative costs related to the co-branded credit card program, including payroll, store expenses, marketing expenses, depreciation and other direct costs, are recorded in operating expenses. | |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | ' |
Foreign Currency Translation and Remeasurement- In anticipation of the equity investment in Town Shoes, DSW purchased $75 million CAD, which equated to approximately $69 million USD at the purchase date. As DSW's functional currency is USD, the purchase of CAD resulted in a foreign currency exchange gain of $0.6 million. Gains or losses resulting from foreign currency transactions are included in operating expenses, whereas related translation adjustments are reported as an element of other comprehensive income, both of which are included in the condensed consolidated statements of operations and comprehensive income. | |
The note receivable and the payment-in-kind interest from Town Shoes are denominated in CAD. The functional and reporting currency of Town Shoes is CAD. As USD is the functional currency of the entity that holds DSW's investment in and note receivable from Town Shoes, DSW is required to remeasure these balances into USD balances. The income from Town Shoes was remeasured into USD at the average exchange rate for the period. The note receivable from Town Shoes was remeasured in USD at the exchange rate prevailing at the balance sheet date. As DSW has designated the note receivable from Town Shoes as an investment of a long-term investment nature, DSW records gains and losses arising from changes in exchange rates in comprehensive income. | |
New Accounting Pronouncements, Policy [Policy Text Block] | ' |
Recent Accounting Pronouncements- In May 2014, the Financial Accounting Standards Board ("FASB") and the International Accounting Standards Board released a standard on the recognition of revenue from contracts with customers that is designed to create greater comparability for financial statement users across industries and jurisdictions. Under the new standard, companies will recognize revenue to depict the transfer of goods or services to customers in amounts that reflect the payment to which a company expects to be entitled in exchange for those goods or services. The standard also will require enhanced disclosures and provide more comprehensive guidance for transactions such as service revenue and contract modifications. The standard will take effect for public companies for annual reporting periods beginning after December 15, 2016, including interim reporting periods. DSW is currently in process of evaluating the impact of the new standard on its financial statements and disclosures. | |
In June 2014, the FASB issued final guidance that a performance target that affects vesting of a share-based payment and that could be achieved after the requisite service period is a performance condition under Accounting Standards Codification ("ASC") 718, Stock Compensation. As a result, the target is not reflected in the estimation of the award's grant date fair value. Compensation costs for such an award would be recognized over the required service period, if it is probable that the performance condition will be achieved. The guidance is effective for all entities for annual reporting periods beginning after December 15, 2015 and interim periods within those annual periods. Early adoption is permitted. The guidance should be applied on a prospective basis to awards that are granted or modified on or after the effective date. DSW will not be affected by this guidance as DSW currently accounts for these awards in a manner consistent with the new guidance. |
Earnings_per_Share_and_Shareho1
Earnings per Share and Shareholders' Equity Earnings per Share and Shareholders' Equity (Policies) | 6 Months Ended |
Aug. 02, 2014 | |
Earnings Per Share [Abstract] | ' |
Earnings Per Share, Policy [Policy Text Block] | ' |
Basic earnings per share is based on net income and a simple weighted-average of common shares outstanding. Diluted earnings per share reflects the potential dilution of common shares adjusted for outstanding DSW stock options, restricted stock units ("RSU") and performance-based restricted stock units ("PSU") calculated using the treasury stock method. |
Stockbased_Compensation_Stockb
Stock-based Compensation Stock-based Compensation (Policies) | 6 Months Ended |
Aug. 02, 2014 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' |
Share-based Compensation, Option and Incentive Plans, Director Policy [Policy Text Block] | ' |
The DSW 2005 Equity Incentive Plan ("the 2005 Plan") provides for the issuance of equity awards to purchase up to 11.2 million DSW Common Shares. The 2005 Plan covers stock options, RSUs, PSUs and director stock units. Eligible recipients include key employees of DSW and affiliates, as well as directors of DSW. Options generally vest 20% per year on a cumulative basis. Options granted under the 2005 Plan generally remain exercisable for a period of ten years from the date of grant. In June 2014, DSW shareholders approved the 2014 Equity Incentive Plan ("the 2014 Plan") which provides for the issuance of an additional 8.5 million shares of our Class A Common Shares. DSW will begin issuing shares under the 2014 Plan after the 2005 Plan expires in fiscal 2015. | |
Stock Appreciation Rights [Policy Text Block] | ' |
Under ASC 505-50, Equity-Based Payments to Non-Employees, share-based payment transactions with non-employees shall be measured at the fair value of the consideration received or the fair value of the equity instruments issued. DSW estimated the initial fair value of the SARs using the Black-Scholes model and remeasures the SARs each period using the Black-Scholes model. The SARs are classified as share-based liabilities as the instruments are required to be settled in cash. As the instruments are required to be settled in cash, the instruments are not included in diluted shares for the purposes of calculating earnings per share. The compensation expense of the SARs will be recognized over the vesting period as that is the period that DSW is receiving the services. After the vesting period is complete, DSW will continue to remeasure the SARs using the Black-Scholes model as the instruments become subject to ASC 815, Derivatives and Hedging. |
Investments_Investments_Polici
Investments Investments (Policies) | 6 Months Ended |
Aug. 02, 2014 | |
Investments [Abstract] | ' |
Investment, Policy [Policy Text Block] | ' |
The majority of DSW’s available-for-sale investments were primarily municipal bonds with renewal dates of every 7 days. Held-to-maturity investments are primarily corporate bonds, municipal bonds and municipal term notes and are held at amortized cost, which approximates fair value. Long-term investments have maturities longer than one year but shorter than three years and are classified as held-to-maturity. DSW accounts for its purchases of investments on the trade date of the investment. |
Fair_Value_Measurements_Fair_V
Fair Value Measurements Fair Value Measurements (Policies) | 6 Months Ended | |
Aug. 02, 2014 | ||
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract] | ' | |
Fair Value Measurement, Policy [Policy Text Block] | ' | |
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Therefore, fair value is a market-based measurement based on assumptions of the market participants. As a basis for these assumptions, DSW classifies its fair value measurements under the following fair value hierarchy: | ||
• | Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that are publicly accessible. Active markets have frequent transactions with enough volume to provide ongoing pricing information. | |
• | Level 2 inputs are other than level 1 inputs that are directly or indirectly observable. These can include unadjusted quoted prices for similar assets or liabilities in active markets, unadjusted quoted prices for identical assets or liabilities in inactive markets or other observable inputs. | |
• | Level 3 inputs are unobservable inputs |
Segment_Reporting_Policies
Segment Reporting (Policies) | 6 Months Ended |
Aug. 02, 2014 | |
Segment Reporting [Abstract] | ' |
Segment Reporting, Policy [Policy Text Block] | ' |
DSW has identified such segments based on internal management reporting and responsibilities and measures segment profit as gross profit, which is defined as net sales less cost of sales. |
Income_Taxes_Policies
Income Taxes (Policies) | 6 Months Ended |
Aug. 02, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Income Tax, Policy [Policy Text Block] | ' |
INCOME TAXES | |
The provision for income taxes is based on the current estimate of the annual effective tax rate and is adjusted as necessary for quarterly events. |
Earnings_per_Share_and_Shareho2
Earnings per Share and Shareholders' Equity (Tables) | 6 Months Ended | |||||||||||
Aug. 02, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Reconciliation of the Number of Shares Used in the Calculation of Diluted Earnings per Share | ' | |||||||||||
The following table is a reconciliation of the number of shares used in the calculation of diluted earnings per share computations for the periods presented: | ||||||||||||
Three months ended | Six months ended | |||||||||||
August 2, 2014 | August 3, 2013 | August 2, 2014 | August 3, 2013 | |||||||||
(in thousands) | ||||||||||||
Basic shares | 90,120 | 90,380 | 90,472 | 90,248 | ||||||||
Assumed exercise of dilutive stock options | 836 | 1,210 | 952 | 1,212 | ||||||||
Assumed exercise of dilutive RSUs and PSUs | 170 | 206 | 194 | 218 | ||||||||
Diluted shares | 91,126 | 91,796 | 91,618 | 91,678 | ||||||||
Stockbased_Compensation_Tables
Stock-based Compensation (Tables) | 6 Months Ended | |||||||
Aug. 02, 2014 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | |||||||
Schedule of Share-based Compensation Expense [Table Text Block] | ' | |||||||
The following table summarizes DSW's stock-based compensation expense: | ||||||||
Six months ended | ||||||||
August 2, 2014 | August 3, 2013 | |||||||
(in thousands) | ||||||||
Stock Options | $ | 3,315 | $ | 3,154 | ||||
Restricted Stock Units | 1,225 | 919 | ||||||
Performance-Based Restricted Stock Units | 564 | 209 | ||||||
Director Stock Units | 1,163 | 1,069 | ||||||
Total | $ | 6,267 | $ | 5,351 | ||||
Stock Option Plan Activity | ' | |||||||
The following table summarizes DSW’s stock option activity: | ||||||||
Six months ended | ||||||||
August 2, 2014 | ||||||||
(in thousands) | ||||||||
Outstanding, beginning of period | 3,347 | |||||||
Granted | 407 | |||||||
Exercised | (236 | ) | ||||||
Forfeited | (100 | ) | ||||||
Outstanding, end of period | 3,418 | |||||||
Exercisable, end of period | 1,953 | |||||||
Weighted-average Assumptions Used for Options Granted | ' | |||||||
The following table illustrates the weighted-average assumptions used in the Black-Scholes pricing model for DSW options granted in each of the periods presented: | ||||||||
Six months ended | ||||||||
Assumptions: | August 2, 2014 | August 3, 2013 | ||||||
Risk-free interest rate | 1.90% | 0.70% | ||||||
Expected volatility of DSW common stock | 45.70% | 53.40% | ||||||
Expected option term | 5.3 years | 4.7 years | ||||||
Expected dividend yield | 2.30% | 1.30% | ||||||
Other Data: | ||||||||
Weighted average grant date fair value | $12.41 | $12.85 | ||||||
Restricted Stock Unit Activity | ' | |||||||
The following table summarizes DSW’s RSU activity: | ||||||||
Six months ended | ||||||||
August 2, 2014 | ||||||||
(in thousands) | ||||||||
Outstanding, beginning of period | 381 | |||||||
Granted | 83 | |||||||
Vested | (105 | ) | ||||||
Forfeited | (23 | ) | ||||||
Outstanding, end of period | 336 | |||||||
Performance-based Units Activity [Table Text Block] | ' | |||||||
The following table summarizes DSW’s PSU activity: | ||||||||
Six months ended | ||||||||
August 2, 2014 | ||||||||
(in thousands) | ||||||||
Outstanding, beginning of period | 69 | |||||||
Granted | 86 | |||||||
Vested | — | |||||||
Forfeited | (5 | ) | ||||||
Outstanding, end of period | 150 | |||||||
Director Stock Unit Activity | ' | |||||||
The following table summarizes DSW’s director stock unit activity: | ||||||||
Six months ended | ||||||||
August 2, 2014 | ||||||||
(in thousands) | ||||||||
Outstanding, beginning of period | 330 | |||||||
Granted | 45 | |||||||
Exercised | (19 | ) | ||||||
Outstanding, end of period | 356 | |||||||
Investments_Tables
Investments (Tables) | 6 Months Ended | |||||||||||||||||||||||
Aug. 02, 2014 | ||||||||||||||||||||||||
Investments [Abstract] | ' | |||||||||||||||||||||||
Investments | ' | |||||||||||||||||||||||
The following table discloses the major categories of DSW’s investments as of the periods presented: | ||||||||||||||||||||||||
Short-term investments | Long-term investments | |||||||||||||||||||||||
August 2, 2014 | February 1, 2014 | August 3, 2013 | August 2, 2014 | February 1, 2014 | August 3, 2013 | |||||||||||||||||||
Available-for-sale: | (in thousands) | |||||||||||||||||||||||
Bonds | — | $ | 22,050 | — | — | — | — | |||||||||||||||||
Held-to-maturity: | ||||||||||||||||||||||||
Term notes and bonds | $ | 151,647 | 202,048 | $ | 200,238 | $ | 225,972 | $ | 243,188 | $ | 230,599 | |||||||||||||
Total investments | $ | 151,647 | $ | 224,098 | $ | 200,238 | $ | 225,972 | $ | 243,188 | $ | 230,599 | ||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 6 Months Ended | |||||||||||||||||||||||||||||||||||
Aug. 02, 2014 | ||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis | ' | |||||||||||||||||||||||||||||||||||
The following table presents financial assets at fair value as of the periods presented: | ||||||||||||||||||||||||||||||||||||
As of August 2, 2014 | As of February 1, 2014 | As of August 3, 2013 | ||||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Total | Level 1 | Level 2 | Total | Level 1 | Level 2 | ||||||||||||||||||||||||||||
Financial assets: | (in thousands) | |||||||||||||||||||||||||||||||||||
Cash and equivalents (a) | $ | 87,406 | $ | 87,406 | — | $ | 112,021 | $ | 112,021 | — | $ | 68,929 | $ | 68,929 | — | |||||||||||||||||||||
Short-term investments (b) | 151,718 | — | $ | 151,718 | 224,167 | — | $ | 224,167 | 200,398 | — | $ | 200,398 | ||||||||||||||||||||||||
Long-term investments (b) | 226,461 | — | 226,461 | 243,373 | — | 243,373 | 229,590 | — | 229,590 | |||||||||||||||||||||||||||
Note receivable from Town Shoes (c) | 47,755 | — | 47,755 | — | — | — | — | — | — | |||||||||||||||||||||||||||
Total financial assets | $ | 513,340 | $ | 87,406 | $ | 425,934 | $ | 579,561 | $ | 112,021 | $ | 467,540 | $ | 498,917 | $ | 68,929 | $ | 429,988 | ||||||||||||||||||
Property_and_Equipment_Net_Tab
Property and Equipment, Net (Tables) | 6 Months Ended | ||||||||||||
Aug. 02, 2014 | |||||||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||||||
Property and Equipment, Net | ' | ||||||||||||
The balance sheet caption "Property and equipment, net" was comprised of the following for the periods presented: | |||||||||||||
August 2, 2014 | February 1, 2014 | August 3, 2013 | |||||||||||
(in thousands) | |||||||||||||
Land | $ | 1,110 | $ | 1,110 | $ | 1,110 | |||||||
Furniture, fixtures and equipment | 413,014 | 387,913 | 366,605 | ||||||||||
Buildings, building and leasehold improvements | 340,923 | 325,340 | 309,599 | ||||||||||
Total property and equipment | 755,047 | 714,363 | 677,314 | ||||||||||
Accumulated depreciation and amortization | (423,778 | ) | (395,743 | ) | (366,940 | ) | |||||||
Property and equipment, net | $ | 331,269 | $ | 318,620 | $ | 310,374 | |||||||
Accrued_Expenses_Tables
Accrued Expenses (Tables) | 6 Months Ended | ||||||||||||
Aug. 02, 2014 | |||||||||||||
Payables and Accruals [Abstract] | ' | ||||||||||||
Accrued Expenses | ' | ||||||||||||
The balance sheet caption "Accrued expenses" was comprised of the following for the periods presented: | |||||||||||||
August 2, 2014 | February 1, 2014 | August 3, 2013 | |||||||||||
(in thousands) | |||||||||||||
Gift cards and merchandise credits | $ | 33,158 | $ | 37,651 | $ | 30,007 | |||||||
Compensation | 8,463 | 18,043 | 13,509 | ||||||||||
Taxes | 18,742 | 13,581 | 33,540 | ||||||||||
Customer loyalty program | 15,566 | 19,547 | 20,195 | ||||||||||
Other | 31,194 | 26,875 | 29,900 | ||||||||||
Total accrued expenses | $ | 107,123 | $ | 115,697 | $ | 127,151 | |||||||
NonCurrent_LiabilitiesTables
Non-Current Liabilities(Tables) | 6 Months Ended | ||||||||||||
Aug. 02, 2014 | |||||||||||||
Other Liabilities Disclosure [Abstract] | ' | ||||||||||||
Other Non-current Liabilities | ' | ||||||||||||
The balance sheet caption "Non-current liabilities" was comprised of the following for the periods presented: | |||||||||||||
August 2, 2014 | February 1, 2014 | August 3, 2013 | |||||||||||
(in thousands) | |||||||||||||
Construction and tenant allowances | $ | 86,726 | $ | 84,464 | $ | 78,668 | |||||||
Deferred rent | 38,159 | 37,985 | 37,304 | ||||||||||
Other | 17,594 | 15,849 | 15,685 | ||||||||||
Total non-current liabilities | $ | 142,479 | $ | 138,298 | $ | 131,657 | |||||||
Segment_Reporting_Tables
Segment Reporting (Tables) | 6 Months Ended | |||||||||||||||
Aug. 02, 2014 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Segment Information | ' | |||||||||||||||
DSW segment | ABG segment | Other | Total | |||||||||||||
(in thousands) | ||||||||||||||||
Three months ended August 2, 2014 | ||||||||||||||||
Net sales | $ | 553,814 | $ | 33,282 | — | $ | 587,096 | |||||||||
Gross profit | 166,080 | 5,824 | — | 171,904 | ||||||||||||
Capital expenditures | 21,602 | 1,131 | — | 22,733 | ||||||||||||
Three months ended August 3, 2013 | ||||||||||||||||
Net sales | $ | 530,921 | $ | 31,142 | — | $ | 562,063 | |||||||||
Gross profit | 177,524 | 5,918 | — | 183,442 | ||||||||||||
Capital expenditures | 23,349 | 68 | — | 23,417 | ||||||||||||
Six months ended August 2, 2014 | ||||||||||||||||
Net sales | $ | 1,112,680 | $ | 73,363 | — | $ | 1,186,043 | |||||||||
Gross profit | 344,331 | 15,578 | — | 359,909 | ||||||||||||
Capital expenditures | 46,782 | 1,354 | — | 48,136 | ||||||||||||
Six months ended August 3, 2013 | ||||||||||||||||
Net sales | $ | 1,093,845 | $ | 69,580 | — | $ | 1,163,425 | |||||||||
Gross profit | 351,461 | 14,978 | — | 366,439 | ||||||||||||
Capital expenditures | 42,980 | 238 | — | 43,218 | ||||||||||||
Total Assets | ||||||||||||||||
As of August 2, 2014 | $ | 1,265,670 | $ | 95,155 | $ | 72,942 | $ | 1,433,767 | ||||||||
As of February 1, 2014 | 1,340,629 | 80,221 | 394 | 1,421,244 | ||||||||||||
As of August 3, 2013 | 1,265,807 | 99,970 | 396 | 1,366,173 | ||||||||||||
Pension_and_Other_PostRetireme1
Pension and Other Post-Retirement Benefits (Tables) | 6 Months Ended | ||||||
Aug. 03, 2013 | |||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ||||||
Defined Contribution Plan Disclosures [Table Text Block] | ' | ||||||
The following table provides additional detail regarding the composition of and reclassification adjustments out of accumulated other comprehensive loss for the period presented: | |||||||
Six months ended August 3, 2013 | Location on Condensed Consolidated Statement of Operations and Comprehensive Income | ||||||
(in thousands) | |||||||
Beginning Balance | $ | (8,758 | ) | ||||
Reclassification to net income due to settlement of the pension plan | 14,224 | Operating expenses | |||||
Tax benefit of the settlement of the pension plan | (5,289 | ) | Income tax provision | ||||
Change in minimum pension liability | (177 | ) | Operating expenses | ||||
Ending balance | $ | — | |||||
Business_Operations_Store_Data
Business Operations Store Data (Details) | 6 Months Ended |
Aug. 02, 2014 | |
Schedule of Stores Supplied With Merchandise [Line Items] | ' |
Number of Reportable Segments | 2 |
Affiliated Business Group [Abstract] | ' |
Number of retailers operated as leased departments | 4 |
Number of new leased departments added | 13 |
Number of leased departments ceased | 6 |
DSW Segment [Abstract] | ' |
Number of States in which Entity Operates | 42 |
Number of Stores | 410 |
Number of new stores opened | 16 |
Stein Mart Stores [Member] | ' |
Affiliated Business Group [Abstract] | ' |
Number of stores supplied by the entity | 264 |
Gordmans Stores [Member] | ' |
Affiliated Business Group [Abstract] | ' |
Number of stores supplied by the entity | 97 |
Frugal Fannie's Stores [Member] | ' |
Affiliated Business Group [Abstract] | ' |
Number of stores supplied by the entity | 1 |
Yellow Box [Member] | ' |
Affiliated Business Group [Abstract] | ' |
Number of stores supplied by the entity | 1 |
Investment_in_Town_Shoes_Limit2
Investment in Town Shoes Limited (Details) | 6 Months Ended | 6 Months Ended | ||||
Aug. 02, 2014 | Aug. 03, 2013 | 9-May-14 | 9-May-14 | Aug. 02, 2014 | Aug. 02, 2014 | |
USD ($) | USD ($) | USD ($) | CAD | Cash Distribution [Member] | Acquisition-related Costs [Member] | |
USD ($) | USD ($) | |||||
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' |
Town Shoe Acquisition, Purchase Price for Ownership Interest (CAD) | ' | ' | ' | 75,100,000 | ' | ' |
Origination of Notes Receivable from Related Parties | 46,596,000 | 0 | ' | ' | ' | ' |
Town Shoe Acquisition, Purchase Price for Ownership Interest (USD) | ' | ' | 68,900,000 | ' | ' | ' |
Town Shoe Acquisition, Ownership Interest Acquired | ' | ' | 49.20% | 49.20% | ' | ' |
Town Shoe Acquisition, Voting Control Interest Acquired | ' | ' | 50.00% | 50.00% | ' | ' |
Payments to Acquire Equity Method Investments | $25,187,000 | $0 | ' | ' | ($22,300,000) | $2,900,000 |
Shareholder Note, Interest Rate | ' | ' | 12.00% | 12.00% | ' | ' |
Significant_Accounting_Policie2
Significant Accounting Policies Significant Accounting Policies (Details) | 6 Months Ended | ||
In Millions, unless otherwise specified | Aug. 02, 2014 | 9-May-14 | 9-May-14 |
USD ($) | USD ($) | CAD | |
Significant Accounting Policies [Abstract] | ' | ' | ' |
Town Shoe Acquisition, Purchase Price for Ownership Interest (CAD) | ' | ' | 75.1 |
Town Shoe Acquisition, Purchase Price for Ownership Interest (USD) | ' | 68.9 | ' |
Effect of Exchange Rate on Cash | $0.60 | ' | ' |
Related_Party_Transactions_Det
Related Party Transactions (Details) | Aug. 02, 2014 |
In Millions, unless otherwise specified | |
Schottenstein Affiliates [Abstract] | ' |
Related party transaction Outstanding common shares owned (in hundredths) | 17.00% |
Related party transaction Combined voting power of outstanding common shares (in hundredths) | 49.00% |
Class A Common Shares | ' |
Schottenstein Affiliates [Abstract] | ' |
Related Party Transaction, Number of shares owned by related party (in shares) | 7.7 |
Class B Common Shares | ' |
Schottenstein Affiliates [Abstract] | ' |
Related Party Transaction, Number of shares owned by related party (in shares) | 7.7 |
Earnings_per_Share_and_Shareho3
Earnings per Share and Shareholders' Equity Calculation of Earnings per Share (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
Share data in Thousands, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 | Aug. 02, 2014 | Aug. 03, 2013 | Feb. 01, 2014 |
Reconciliation of the number of shares used in the calculation of diluted earnings (loss) per share [Abstract] | ' | ' | ' | ' | ' |
Basic shares | 90,120 | 90,380 | 90,472 | 90,248 | ' |
Assumed exercise of dilutive stock options | 836 | 1,210 | 952 | 1,212 | ' |
Assumed exercise of dilutive RSUs and PSUs | 170 | 206 | 194 | 218 | ' |
Diluted shares | 91,126 | 91,796 | 91,618 | 91,678 | ' |
Shareholders' equity [Abstract]: | ' | ' | ' | ' | ' |
Amount authorized under the share repurchase program | $100,000,000 | ' | $100,000,000 | ' | ' |
Stock Repurchased During Period, Value | ' | ' | 55,176,000 | ' | ' |
Treasury Stock, Value | -56,776,000 | 0 | -56,776,000 | 0 | -1,600,000 |
Treasury Stock [Member] | ' | ' | ' | ' | ' |
Shareholders' equity [Abstract]: | ' | ' | ' | ' | ' |
Stock Repurchased During Period, Shares | ' | ' | 2,000 | ' | ' |
Stock Repurchased During Period, Value | ' | ' | $55,176,000 | ' | ' |
Treasury Stock, Shares | 2,036 | 0 | 2,036 | 0 | 38 |
Earnings_per_Share_and_Shareho4
Earnings per Share and Shareholders' Equity Anti-Dilutive Securities (Details) (Options, RSUs and PSUs [Member]) | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 | Aug. 02, 2014 | Aug. 03, 2013 |
Options, RSUs and PSUs [Member] | ' | ' | ' | ' |
Diluted earnings per share [Abstract] | ' | ' | ' | ' |
Securities outstanding not included in computation of diluted earnings per share | 1.4 | 0.9 | 1.2 | 0.9 |
Stockbased_Compensation_Detail
Stock-based Compensation (Details) (USD $) | 6 Months Ended | |
Aug. 02, 2014 | Aug. 03, 2013 | |
DSW Stock-Based Compensation Plans [Abstract] | ' | ' |
Number of shares authorized (in shares) | 8,500,000 | ' |
Annual vesting percentage (in hundredths) | 20.00% | ' |
Additional Disclosures [Abstract] | ' | ' |
Share-based compensation expense | $6,267,000 | $5,351,000 |
Stock Options [Member] | ' | ' |
Stock Option Activity [Roll Forward] | ' | ' |
Outstanding, beginning of period (in shares) | 3,347,000 | ' |
Granted | 407,000 | ' |
Exercised | -236,000 | ' |
Forfeited | -100,000 | ' |
Outstanding, end of period (in shares) | 3,418,000 | ' |
Exercisable, end of period (in shares) | 1,953,000 | ' |
Additional Disclosures [Abstract] | ' | ' |
Compensation cost not yet recognized related to nonvested awards | 14,800,000 | ' |
Weighted average expense recognition period (in years) | '2 years 1 month | ' |
Weighted average grant date fair value (in dollars per share) | $12.41 | $12.85 |
Share-based compensation expense | 3,315,000 | 3,154,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ' | ' |
Risk-free interest rate | 1.90% | 0.70% |
Expected volatility of DSW common stock | 45.70% | 53.40% |
Expected option term | '5 years 4 months | '4 years 8 months |
Expected dividend yield | 2.30% | 1.30% |
Restricted Stock Units (RSUs) [Member] | ' | ' |
Additional Disclosures [Abstract] | ' | ' |
Nonvested Awards, Total Compensation Cost Not yet Recognized, Share-based Awards Other than Options | 5,900,000 | ' |
Weighted average expense recognition period (in years) | '2 years 0 months | ' |
Share-based compensation expense | 1,225,000 | 919,000 |
Equity instruments other than options [Roll forward] | ' | ' |
Outstanding, beginning of period (in units) | 381,000 | ' |
Granted (in units) | 83,000 | ' |
Vested (in units) | -105,000 | ' |
Forfeited (in units) | -23,000 | ' |
Outstanding, end of period (in units) | 336,000 | ' |
Performance Shares [Member] | ' | ' |
Additional Disclosures [Abstract] | ' | ' |
Nonvested Awards, Total Compensation Cost Not yet Recognized, Share-based Awards Other than Options | 4,000,000 | ' |
Weighted average expense recognition period (in years) | '2 years 3 months | ' |
Share-based compensation expense | 564,000 | 209,000 |
Equity instruments other than options [Roll forward] | ' | ' |
Outstanding, beginning of period (in units) | 69,000 | ' |
Granted (in units) | 86,000 | ' |
Vested (in units) | 0 | ' |
Forfeited (in units) | -5,000 | ' |
Outstanding, end of period (in units) | 150,000 | ' |
Director Stock Units [Member] | ' | ' |
Additional Disclosures [Abstract] | ' | ' |
Share-based compensation expense | $1,163,000 | $1,069,000 |
Equity instruments other than options [Roll forward] | ' | ' |
Outstanding, beginning of period (in units) | 330,000 | ' |
Granted (in units) | 45,000 | ' |
Non-Option Equity Instruments, Exercised | -19,000 | ' |
Outstanding, end of period (in units) | 356,000 | ' |
Stock Appreciation Rights (SARs) [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 500,000 | ' |
Equity instruments other than options [Roll forward] | ' | ' |
Schedule of Share-based Compensation, Stock Appreciation Rights Award Activity [Table Text Block] | '229 | ' |
Share-based Compensation Award, Tranche One [Member] | Stock Appreciation Rights (SARs) [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price | $25.24 | ' |
Share-based Compensation Award, Tranche Two [Member] | Stock Appreciation Rights (SARs) [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price | $27.38 | ' |
Stock Compensation Plan [Member] | ' | ' |
DSW Stock-Based Compensation Plans [Abstract] | ' | ' |
Number of shares authorized (in shares) | 11,200,000 | ' |
Investments_Details
Investments (Details) (USD $) | 3 Months Ended | ||
Aug. 02, 2014 | Feb. 01, 2014 | Aug. 03, 2013 | |
Schedule of Investments, Reported Amounts, by Category [Line Items] | ' | ' | ' |
Short-term investments | $151,647,000 | $224,098,000 | $200,238,000 |
Long-term investments | 225,972,000 | 243,188,000 | 230,599,000 |
Investment disclosure [Abstract] | ' | ' | ' |
Gross unrealized gains on short-term investments | 100,000 | 200,000 | 200,000 |
Current Held to Maturity Securities Unrecognized Holding Loss | 100,000 | 100,000 | 100,000 |
Gross unrealized gains from long-term held-to-maturity investments | 600,000 | 600,000 | 100,000 |
Gross unrealized losses on long-term held-to-maturity investments | 200,000 | 400,000 | 1,100,000 |
Bonds | Available-for-sale Securities [Member] | ' | ' | ' |
Schedule of Investments, Reported Amounts, by Category [Line Items] | ' | ' | ' |
Short-term investments | 0 | 22,050,000 | 0 |
Long-term investments | 0 | 0 | 0 |
Term notes and bonds | Held-to-maturity Securities [Member] | ' | ' | ' |
Schedule of Investments, Reported Amounts, by Category [Line Items] | ' | ' | ' |
Short-term investments | 151,647,000 | 202,048,000 | 200,238,000 |
Long-term investments | $225,972,000 | $243,188,000 | $230,599,000 |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | 6 Months Ended | ||
Aug. 02, 2014 | Aug. 03, 2013 | Feb. 01, 2014 | |
Assets: | ' | ' | ' |
Cash and equivalents | $87,406,000 | $68,929,000 | $112,021,000 |
Short-term investments (b) | 151,718,000 | 200,398,000 | 224,167,000 |
Long-term investments (b) | 226,461,000 | 229,590,000 | 243,373,000 |
Note receivable from Town Shoes (c) | 47,755,000 | 0 | 0 |
Total assets | 513,340,000 | 498,917,000 | 579,561,000 |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Alternative [Abstract] | ' | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 1,300,000 | ' | ' |
Impairment of Long-Lived Assets Held-for-use | 1,266,000 | 0 | ' |
Level 1 [Member] | ' | ' | ' |
Assets: | ' | ' | ' |
Cash and equivalents | 87,406,000 | 68,929,000 | 112,021,000 |
Short-term investments (b) | 0 | 0 | 0 |
Long-term investments (b) | 0 | 0 | 0 |
Note receivable from Town Shoes (c) | 0 | 0 | 0 |
Total assets | 87,406,000 | 68,929,000 | 112,021,000 |
Level 2 [Member] | ' | ' | ' |
Assets: | ' | ' | ' |
Cash and equivalents | 0 | 0 | 0 |
Short-term investments (b) | 151,718,000 | 200,398,000 | 224,167,000 |
Long-term investments (b) | 226,461,000 | 229,590,000 | 243,373,000 |
Note receivable from Town Shoes (c) | 47,755,000 | 0 | 0 |
Total assets | $425,934,000 | $429,988,000 | $467,540,000 |
Credit_Facility_Details
Credit Facility (Details) (USD $) | 6 Months Ended | ||
Aug. 02, 2014 | Aug. 03, 2013 | Feb. 01, 2014 | |
Credit Facility [Abstract] | ' | ' | ' |
Initiation date | 2-Aug-13 | ' | ' |
Prior Line of Credit Facility, Initiation Date | 30-Jun-10 | ' | ' |
Line of Credit Facility, Expiration Date | 31-Jul-18 | ' | ' |
Line of Credit Facility, Length of Term | '5 years 0 months | ' | ' |
Line of Credit Facility, Covenant Terms | 'The Credit Facility contains restrictive covenants relating to DSW's management and the operation of DSW's business. These covenants, among other things, limit or restrict DSW's ability to grant liens on its assets, limit its ability to incur additional indebtedness, limit its ability to enter into transactions with affiliates and limit its ability to merge or consolidate with another entity. | ' | ' |
Cash and short term investment requirement | $125,000,000 | ' | ' |
Limitation of capital expenditures | 200,000,000 | ' | ' |
Payments to Acquire Property, Plant, and Equipment | 47,974,000 | 45,266,000 | ' |
Credit Facility, available capacity | 50,000,000 | 33,900,000 | 49,400,000 |
Credit Facility, amount outstanding | ' | 16,100,000 | 600,000 |
Line of Credit Facility, Maximum Borrowing Capacity | 50,000,000 | ' | ' |
Line of Credit Facility, Additional Borrowing Capacity | $100,000,000 | ' | ' |
Letter_of_Credit_Agreement_Det
Letter of Credit Agreement (Details) (USD $) | 6 Months Ended | |
In Millions, unless otherwise specified | Aug. 02, 2014 | Feb. 01, 2014 |
Letter of Credit [Line Items] | ' | ' |
Letters of Credit Outstanding, Amount | $7.30 | $5.60 |
Restricted Cash and Investments, Current | 10.1 | 6.1 |
Letter of Credit Agreement, initiation date | 2-Aug-13 | ' |
Letter of Credit Agreement, Maximum Borrowing Capacity | $50 | ' |
Letter of Credit Agreement, expiration date | 2-Aug-18 | ' |
Letter of Credit Agreement, cash collateral account requirement | 103.00% | ' |
Letter of Credit Agreement, cash collateral account (foreign currency) | 105.00% | ' |
Property_and_Equipment_Net_Det
Property and Equipment, Net (Details) (USD $) | Aug. 02, 2014 | Feb. 01, 2014 | Aug. 03, 2013 |
In Thousands, unless otherwise specified | |||
Property and equipment [Abstract]: | ' | ' | ' |
Land | $1,110 | $1,110 | $1,110 |
Furniture, fixtures and equipment | 413,014 | 387,913 | 366,605 |
Buildings, building and leasehold improvements | 340,923 | 325,340 | 309,599 |
Total property and equipment | 755,047 | 714,363 | 677,314 |
Accumulated depreciation and amortization | -423,778 | -395,743 | -366,940 |
Property and equipment, net | $331,269 | $318,620 | $310,374 |
Accrued_Expenses_Details
Accrued Expenses (Details) (USD $) | Aug. 02, 2014 | Feb. 01, 2014 | Aug. 03, 2013 |
In Thousands, unless otherwise specified | |||
Payables and Accruals [Line Items] | ' | ' | ' |
Gift cards and merchandise credits | $33,158 | $37,651 | $30,007 |
Compensation | 8,463 | 18,043 | 13,509 |
Taxes | 18,742 | 13,581 | 33,540 |
Customer loyalty program | 15,566 | 19,547 | 20,195 |
Other | 31,194 | 26,875 | 29,900 |
Total accrued expenses | $107,123 | $115,697 | $127,151 |
NonCurrent_Liabilities_Details
Non-Current Liabilities (Details) (USD $) | Aug. 02, 2014 | Feb. 01, 2014 | Aug. 03, 2013 |
In Thousands, unless otherwise specified | |||
Other Liabilities Disclosure [Abstract] | ' | ' | ' |
Construction and tenant allowances | $86,726 | $84,464 | $78,668 |
Deferred rent | 38,159 | 37,985 | 37,304 |
Other | 17,594 | 15,849 | 15,685 |
Total non-current liabilities | $142,479 | $138,298 | $131,657 |
Segment_Reporting_Details
Segment Reporting (Details) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Thousands, unless otherwise specified | Aug. 02, 2014 | Aug. 03, 2013 | Aug. 02, 2014 | Aug. 03, 2013 | Feb. 01, 2014 |
Segment information [Abstract] | ' | ' | ' | ' | ' |
Net sales | $587,096 | $562,063 | $1,186,043 | $1,163,425 | ' |
Gross profit | 171,904 | 183,442 | 359,909 | 366,439 | ' |
Capital Expenditures | 22,733 | 23,417 | 48,136 | 43,218 | ' |
Total assets | 1,433,767 | 1,366,173 | 1,433,767 | 1,366,173 | 1,421,244 |
Goodwill | 25,899 | 25,899 | 25,899 | 25,899 | 25,899 |
Number of Reportable Segments | ' | ' | 2 | ' | ' |
Affiliated Business Group segment [Member] | ' | ' | ' | ' | ' |
Segment information [Abstract] | ' | ' | ' | ' | ' |
Net sales | 33,282 | 31,142 | 73,363 | 69,580 | ' |
Gross profit | 5,824 | 5,918 | 15,578 | 14,978 | ' |
Capital Expenditures | 1,131 | 68 | 1,354 | 238 | ' |
Total assets | 95,155 | 99,970 | 95,155 | 99,970 | 80,221 |
Other [Member] | ' | ' | ' | ' | ' |
Segment information [Abstract] | ' | ' | ' | ' | ' |
Net sales | 0 | 0 | 0 | 0 | ' |
Gross profit | 0 | 0 | 0 | 0 | ' |
Capital Expenditures | 0 | 0 | 0 | 0 | ' |
Total assets | 72,942 | 396 | 72,942 | 396 | 394 |
DSW [Member] | ' | ' | ' | ' | ' |
Segment information [Abstract] | ' | ' | ' | ' | ' |
Net sales | 553,814 | 530,921 | 1,112,680 | 1,093,845 | ' |
Gross profit | 166,080 | 177,524 | 344,331 | 351,461 | ' |
Capital Expenditures | 21,602 | 23,349 | 46,782 | 42,980 | ' |
Total assets | $1,265,670 | $1,265,807 | $1,265,670 | $1,265,807 | $1,340,629 |
Income_Taxes_Details
Income Taxes (Details) | 3 Months Ended | 6 Months Ended | ||
Aug. 02, 2014 | Aug. 03, 2013 | Aug. 02, 2014 | Aug. 03, 2013 | |
Components of Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' | ' | ' |
Effective Income Tax Rate, Continuing Operations | 38.00% | 38.10% | 37.90% | 37.40% |
Commitments_and_Contingencies_
Commitments and Contingencies (Details) (USD $) | 12 Months Ended | |
In Millions, except Share data, unless otherwise specified | Jan. 28, 2012 | Aug. 02, 2014 |
Purchase Commitment, Excluding Long-term Commitment [Line Items] | ' | ' |
Stockholders Equity Reverse Stock Split Conversion Ratio | 0.435 | ' |
Contractual Obligations [Abstract] | ' | ' |
Purchase Commitment, Remaining Minimum Amount Committed | ' | $6 |
New store locations for which lease agreements signed, number | ' | 37 |
Operating Leases, future minimum payments due, current, new stores | ' | 11.9 |
Incentive to Lessee | ' | $18 |
Yellow Box [Member] | ' | ' |
Contractual Obligations [Abstract] | ' | ' |
New store locations for which lease agreements signed, number | ' | 2 |
Commitments_and_Contingencies_1
Commitments and Contingencies Guarantees Related to Discontinued Operations (Details) (USD $) | 3 Months Ended | 12 Months Ended |
Aug. 02, 2014 | Jan. 28, 2012 | |
Property Subject to or Available for Operating Lease [Line Items] | ' | ' |
Stockholders Equity Reverse Stock Split Conversion Ratio | ' | 0.435 |
Receipt of cash from bankruptcy claim | $1,100,000 | ' |
Estimated guarantee liability | 3,300,000 | ' |
Property Lease Guarantee [Member] | ' | ' |
Property Subject to or Available for Operating Lease [Line Items] | ' | ' |
Loss Contingency, Range of Possible Loss, Minimum | 0 | ' |
Loss Contingency, Range of Possible Loss, Maximum | $7,000,000 | ' |
Pension_and_Other_PostRetireme2
Pension and Other Post-Retirement Benefits (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
Aug. 02, 2014 | Aug. 03, 2013 | Aug. 02, 2014 | Aug. 03, 2013 | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Tax | $0 | ($5,289,000) | $0 | ($5,289,000) |
Accumulated Other Comprehensive Income (Loss), Net of Tax | ' | ' | 0 | ' |
Settlement of pension | ' | ' | 0 | 14,224,000 |
Change in minimum pension liability | ' | ' | ' | -177,000 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | -89,000 | 0 | -89,000 | 0 |
Pension Plan [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Pension Expense | ' | ' | ' | 8,900,000 |
Pension Contributions | ' | ' | ' | 5,000,000 |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Tax | ' | ' | ' | -5,289,000 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | ' | ' | ' | -8,758,000 |
Settlement of pension | ' | ' | ' | 14,224,000 |
Change in minimum pension liability | ' | ' | ' | -177,000 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | ' | $0 | ' | $0 |
Subsequent_Events_Dividend_Dec
Subsequent Events Dividend Declaration (Details) (USD $) | 6 Months Ended |
Aug. 02, 2014 | |
Subsequent Events [Abstract] | ' |
Common Stock, Dividends, Per Share, Declared | $0.19 |
Dividends Payable, Date to be Paid | 30-Sep-14 |
Dividends Payable, Date of Record | 19-Sep-14 |