Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Jan. 31, 2015 | Aug. 02, 2014 | Mar. 20, 2015 | |
Class of Stock [Line Items] | |||
Entity Registrant Name | DSW Inc. | ||
Entity Central Index Key | 1319947 | ||
Current Fiscal Year End Date | -30 | ||
Entity Filer Category | Large Accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | 31-Jan-15 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | FALSE | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $2,133,836,092 | ||
Class A Common Shares | |||
Class of Stock [Line Items] | |||
Entity Common Stock, Shares Outstanding | 80,669,324 | ||
Class B Common Shares | |||
Class of Stock [Line Items] | |||
Entity Common Stock, Shares Outstanding | 7,732,807 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jan. 31, 2015 | Feb. 01, 2014 | Feb. 02, 2013 |
Net sales | $2,496,092 | $2,368,668 | $2,257,778 |
Cost of sales | -1,741,071 | -1,629,381 | -1,533,058 |
Operating expenses | -512,889 | -497,899 | -481,797 |
Change in fair value of derivative instruments | 0 | 0 | -6,121 |
Operating profit | 242,132 | 241,388 | 236,802 |
Interest Expense | -490 | -598 | -894 |
Interest income | 3,285 | 3,217 | 4,705 |
Interest income, net | 2,795 | 2,619 | 3,811 |
Income from continuing operations before income taxes and income from Town Shoes | 244,927 | 244,007 | 240,613 |
Income tax provision | -95,713 | -92,705 | -95,427 |
Income from Town Shoes | 3,813 | 0 | 0 |
Income from continuing operations, net of tax | 153,027 | 151,302 | 145,186 |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | 272 | 0 | 1,253 |
Total income from discontinued operations, net of tax | 0 | ||
Net income | $153,299 | $151,302 | $146,439 |
Basic and diluted earnings (loss) per share [Abstract]: | |||
Basic earnings per share from continuing operations | $1.71 | $1.67 | $1.63 |
Diluted earnings per share from continuing operations | $1.69 | $1.65 | $1.60 |
Basic earnings per share from discontinued operations | $0 | $0 | $0.01 |
Diluted earnings per share from discontinued operations | $0 | $0 | $0.01 |
Basic earnings per share | $1.71 | $1.67 | $1.65 |
Diluted earnings per share | $1.69 | $1.65 | $1.62 |
Shares used in per share calculations [Abstract]: | |||
Basic shares | 89,499 | 90,472 | 88,846 |
Diluted shares | 90,612 | 91,901 | 90,606 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 31, 2015 | Feb. 01, 2014 | Feb. 02, 2013 |
Net income | $153,299 | $151,302 | $146,439 |
Other comprehensive (loss) income, net of tax [Abstract]: | |||
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax, Portion Attributable to Noncontrolling Interest | -6,454 | 0 | 0 |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During Period, Net of Tax | 0 | 8,758 | -413 |
Unrealized gains on securities | 0 | 0 | 141 |
Total other comprehensive (loss) income, net of income taxes | -6,454 | 8,758 | -272 |
Total comprehensive income | $146,845 | $160,060 | $146,167 |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Parenthetical) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 31, 2015 | Feb. 01, 2014 | Feb. 02, 2013 |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Tax | $0 | $5,289 | $839 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Jan. 31, 2015 | Feb. 01, 2014 |
In Thousands, unless otherwise specified | ||
ASSETS [Abstract]: | ||
Cash and equivalents | $59,171 | $112,021 |
Short-term investments | 171,201 | 224,098 |
Accounts receivable, net | 24,400 | 26,593 |
Accounts receivable from related parties | 7 | 53 |
Inventories | 450,836 | 397,768 |
Prepaid expenses and other current assets | 43,108 | 34,072 |
Prepaid expenses to related parties | 0 | 29 |
Deferred income taxes | 19,747 | 18,130 |
Total current assets | 768,470 | 812,764 |
Property and equipment, net | 337,903 | 318,620 |
Long-term investments | 216,756 | 243,188 |
Goodwill | 25,899 | 25,899 |
Deferred income taxes | 11,332 | 11,587 |
Prepaid expenses to related parties, non-current | 794 | 514 |
Equity Method Investments | 25,887 | 0 |
Notes Receivable, Related Parties, Noncurrent | 43,304 | 0 |
Other assets | 7,898 | 8,672 |
Total assets | 1,438,243 | 1,421,244 |
LIABILITIES AND SHAREHOLDERS’ EQUITY [Abstract]: | ||
Accounts payable | 169,518 | 167,949 |
Accounts payable to related parties | 1,092 | 756 |
Accrued Liabilities, Current | 113,180 | 115,697 |
Total current liabilities | 283,790 | 284,402 |
Non-current liabilities | 143,333 | 138,298 |
Commitments and contingencies | 0 | 0 |
Shareholders’ equity [Abstract]: | ||
Common Shares | 908,679 | 890,698 |
Preferred shares, no par value; 100,000 authorized; no shares issued or outstanding | 0 | 0 |
Treasury Stock, Value | -86,938 | -1,600 |
Retained earnings | 220,826 | 134,439 |
Basis difference related to acquisition of commonly controlled entity | -24,993 | -24,993 |
Accumulated other comprehensive loss | -6,454 | 0 |
Total shareholders’ equity | 1,011,120 | 998,544 |
Total liabilities and shareholders’ equity | $1,438,243 | $1,421,244 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Jan. 31, 2015 | Feb. 01, 2014 |
In Thousands, except Per Share data, unless otherwise specified | ||
Shareholders' equity [Abstract]: | ||
Preferred Shares, par value (in dollars per share) | $0 | $0 |
Preferred Shares, authorized (in shares) | 100,000 | 100,000 |
Preferred Shares, issued (in shares) | 0 | 0 |
Preferred Shares, outstanding (in shares) | 0 | 0 |
Class A Common Shares | ||
Shareholders' equity [Abstract]: | ||
Common Shares, par value (in dollars per share) | $0 | $0 |
Common Shares, authorized (in shares) | 250,000 | 250,000 |
Common Shares, issued (in shares) | 83,702 | 83,071 |
Common Shares, outstanding (in shares) | 80,666 | 83,033 |
Class B Common Shares | ||
Shareholders' equity [Abstract]: | ||
Common Shares, par value (in dollars per share) | $0 | $0 |
Common Shares, authorized (in shares) | 100,000 | 100,000 |
Common Shares, issued (in shares) | 7,733 | 7,733 |
Common Shares, outstanding (in shares) | 7,733 | 7,733 |
Treasury Shares | ||
Shareholders' equity [Abstract]: | ||
Common Shares, outstanding (in shares) | 3,036 | 38 |
Consolidated_Statements_of_Sha
Consolidated Statements of Shareholders' Equity (USD $) | Total | Other Additional Capital [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Shares | Class A Common Shares | Class B Common Shares | Treasury Shares |
In Thousands, unless otherwise specified | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||
Balance at Jan. 28, 2012 | $786,587 | ($8,486) | $796,812 | ($1,739) | $0 | ||||
Balance (in shares) at Jan. 28, 2012 | 64,244 | 22,340 | 0 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net income | 146,439 | 146,439 | |||||||
Change in minimum pension liability, net of tax benefit | -413 | -413 | |||||||
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax | 141 | 141 | |||||||
Exercise of warrants | 43,216 | 43,216 | |||||||
Exercise of warrants (in shares) | 1,506 | ||||||||
DSW stock-based compensation expense, before related tax effects | 6,970 | 6,970 | |||||||
Exercise of DSW stock options, net of settlement of taxes | 11,202 | 11,202 | |||||||
Exercise of DSW stock options, net of settlement of taxes (in shares) | 1,738 | ||||||||
Stock units granted | 1,110 | 1,110 | |||||||
Stock units granted (in shares) | 54 | ||||||||
Vesting of restricted stock units, net of settlement of taxes | -2,057 | -2,057 | |||||||
Vesting of restricted stock units, net of settlement of taxes (in shares) | 142 | ||||||||
Excess tax benefits related to stock exercises | 14,773 | 14,773 | |||||||
Common Control Asset Purchase | -21,680 | -21,680 | |||||||
Exchange of Class B Common Shares for Class A Common Shares | 0 | ||||||||
Exchange of Class B Common Shares for Class A Common Shares (in shares) | 6,386 | ||||||||
Exchange of Class B for Class A (in shares) | -6,386 | ||||||||
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax, Portion Attributable to Noncontrolling Interest | 0 | ||||||||
Dividends paid | -127,709 | -127,709 | |||||||
Balance at Feb. 02, 2013 | 858,579 | -21,680 | -8,758 | 872,026 | 16,991 | 0 | |||
Balance (in shares) at Feb. 02, 2013 | 72,564 | 17,460 | 0 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net income | 151,302 | 151,302 | |||||||
Change in minimum pension liability, net of tax benefit | 8,935 | 8,935 | |||||||
DSW stock-based compensation expense, before related tax effects | 8,191 | 8,191 | |||||||
Exercise of DSW stock options, net of settlement of taxes | 4,776 | 4,776 | |||||||
Exercise of DSW stock options, net of settlement of taxes (in shares) | 665 | ||||||||
Stock units granted | 1,151 | 1,151 | |||||||
Stock units granted (in shares) | 34 | ||||||||
Vesting of restricted stock units, net of settlement of taxes | -1,682 | -1,682 | |||||||
Vesting of restricted stock units, net of settlement of taxes (in shares) | 81 | ||||||||
Payments for Repurchase of Common Stock | -1,600 | -1,600 | |||||||
Stock Repurchased During Period, Shares | -38 | ||||||||
Treasury Stock, Shares, Acquired | 38 | ||||||||
Excess tax benefits related to stock exercises | 6,236 | 6,236 | |||||||
Common Control Asset Purchase | -3,313 | -3,313 | |||||||
Exchange of Class B Common Shares for Class A Common Shares | 0 | ||||||||
Exchange of Class B for Class A (in shares) | 2,600 | -2,600 | |||||||
Exchange of Class A Common Shares for Class B Common Shares | -606 | 606 | |||||||
Value of stock transferred from Class A Common Shares to Class B Common Shares. | 0 | ||||||||
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax, Portion Attributable to Noncontrolling Interest | 0 | ||||||||
Dividends paid | -33,854 | -33,854 | |||||||
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, before Reclassification Adjustments and Tax | -177 | -177 | |||||||
Class A Common Share Adjustment to Reflect Stock Split Impact on Voting Control (in shares) | 0 | 7,733 | -7,733 | ||||||
Balance at Feb. 01, 2014 | 998,544 | -24,993 | 0 | 890,698 | 134,439 | -1,600 | |||
Balance (in shares) at Feb. 01, 2014 | 38 | 83,033 | 7,733 | 38 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net income | 153,299 | 153,299 | |||||||
DSW stock-based compensation expense, before related tax effects | 9,248 | 9,248 | |||||||
Exercise of DSW stock options, net of settlement of taxes | 5,120 | 5,120 | |||||||
Exercise of DSW stock options, net of settlement of taxes (in shares) | 505 | ||||||||
Stock units granted | 1,247 | 1,247 | |||||||
Stock units granted (in shares) | 52 | ||||||||
Vesting of restricted stock units, net of settlement of taxes | -1,649 | -1,649 | |||||||
Vesting of restricted stock units, net of settlement of taxes (in shares) | 74 | ||||||||
Payments for Repurchase of Common Stock | -85,338 | -85,338 | -85,300 | ||||||
Stock Repurchased During Period, Shares | -3,000 | -2,998 | |||||||
Treasury Stock, Shares, Acquired | 2,998 | ||||||||
Excess tax benefits related to stock exercises | 4,015 | 4,015 | |||||||
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax, Portion Attributable to Noncontrolling Interest | -6,454 | -6,454 | |||||||
Dividends paid | -66,912 | -66,912 | |||||||
Balance at Jan. 31, 2015 | $1,011,120 | ($24,993) | ($6,454) | $908,679 | $220,826 | ($86,938) | |||
Balance (in shares) at Jan. 31, 2015 | 80,666 | 7,733 | 3,036 |
Consolidated_Statements_of_Sha1
Consolidated Statements of Shareholders' Equity (Parenthetical) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jan. 31, 2015 | Feb. 01, 2014 | Feb. 02, 2013 |
Common Stock, Dividends, Per Share, Cash Paid | $0.75 | $0.38 | $1.44 |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Tax | $0 | $5,289 | $839 |
Tax Effect of Common Control Asset purchase | $0 | $0 | $17,877 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 31, 2015 | Feb. 01, 2014 | Feb. 02, 2013 |
Cash flows from operating activities: | |||
Net income | $153,299 | $151,302 | $146,439 |
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | 272 | 0 | 1,253 |
Income from continuing operations, net of tax | 153,027 | 151,302 | 145,186 |
Adjustments to reconcile net income to net cash and equivalents provided by operating activities from continuing operations: | |||
Depreciation and amortization | 68,243 | 64,237 | 58,002 |
Stock-based compensation expense | 10,495 | 9,342 | 8,080 |
Deferred income taxes | -1,361 | 41,834 | 85,168 |
Income from Town Shoes | -3,813 | 0 | 0 |
Change in fair value of derivative instruments | 0 | 0 | 6,121 |
Loss on disposal of long-lived assets | 1,149 | 1,902 | 1,943 |
Impairment of long-lived assets | 5,095 | 809 | 0 |
Impairment of lease | 0 | 0 | 5,984 |
Excess tax benefits related to stock-based compensation | -4,015 | -6,236 | -14,773 |
Amortization of investment discounts and premiums | 9,525 | 10,357 | 6,834 |
Settlement of pension plan | 0 | 14,224 | 0 |
Change in working capital, other assets and liabilities: | |||
Accounts receivable, net | 2,239 | 138 | -9,382 |
Inventories | -53,068 | -3,974 | -59,404 |
Prepaid expenses and other current assets | -3,959 | -7,831 | 3,811 |
Accounts payable | 7,083 | 15,957 | 2,793 |
Accrued expenses | 908 | 3,766 | -3,157 |
Other | 5,490 | 5,548 | 21,358 |
Net cash and equivalents provided by operating activities from continuing operations | 197,038 | 301,375 | 258,564 |
Cash flows used in investing activities: | |||
Cash paid for property and equipment | -98,126 | -86,412 | -102,034 |
Common Control Assets Acquired Investing Cash Flows Impact | 0 | 0 | -32,443 |
Purchases of available-for-sale investments | -43,687 | -34,720 | -44,790 |
Purchases of held-to-maturity investments | -132,765 | -379,438 | -309,032 |
Sales of available-for-sale investments | 48,590 | 36,950 | 160,332 |
Maturities of held-to-maturity investments | 197,666 | 228,358 | 207,408 |
Activity related to investment - related party | 0 | 0 | 1,151 |
Increase (Decrease) in Restricted Cash | -5,328 | -6,147 | 0 |
Payments to Acquire Equity Method Investments | -25,236 | 0 | 0 |
Origination of Notes Receivable from Related Parties | -46,596 | 0 | 0 |
Net cash and equivalents used in investing activities from continuing operations | -105,482 | -241,409 | -119,408 |
Cash flows used in financing activities: | |||
Proceeds from exercise of stock options | 5,120 | 6,251 | 15,556 |
Cash paid for income taxes for shares withheld | -1,649 | -3,157 | -6,411 |
Debt issuance costs | 0 | -268 | 0 |
Payments for Repurchase of Common Stock | -85,338 | -1,600 | 0 |
Proceeds from the exercise of warrants | 0 | 0 | 7,792 |
Dividends paid | -66,912 | -33,854 | -129,215 |
Common Control Assets Acquired Financing Cash Flows Impact | 0 | 0 | -39,557 |
Excess tax benefits related to stock-based compensation | 4,015 | 6,236 | 14,773 |
Net cash and equivalents used in financing activities from continuing operations | -144,764 | -26,392 | -137,062 |
Cash flows from (used in) discontinued operations: | |||
Operating activities | 358 | -2,650 | 0 |
Net increase (decrease) in cash and equivalents from discontinued operations | 358 | -2,650 | 0 |
Net (decrease) increase in cash and equivalents from continuing operations | -53,208 | 33,574 | 2,094 |
Cash and equivalents, beginning of period | 112,021 | 81,097 | 79,003 |
Cash and equivalents, end of period | 59,171 | 112,021 | 81,097 |
Supplemental disclosures of cash flow information: | |||
Cash paid during the period for income taxes | 91,727 | 55,031 | 8,583 |
Proceeds from construction and tenant allowances | 18,512 | 21,138 | 16,421 |
Non-cash operating, investing and financing activities: | |||
Balance of accounts payable and accrued expenses due to property and equipment purchases | 5,178 | 5,642 | 7,388 |
Additional paid in capital transferred from warrant liability due to warrant exercises | $0 | $0 | $35,424 |
Business_Operations
Business Operations | 12 Months Ended | ||||||
Jan. 31, 2015 | |||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||
BUSINESS OPERATIONS AND BASIS OF PRESENTATION | BUSINESS OPERATIONS | ||||||
Business Operations- DSW Inc. and its wholly owned subsidiaries are herein referred to collectively as DSW Inc. 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 Inc. 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 January 31, 2015, DSW operated a total of 431 stores located in 42 states, the District of Columbia and Puerto Rico, and dsw.com. During fiscal 2014, 2013 and 2012, DSW opened 37, 30 and 39 new DSW stores, respectively, and during 2012, closed 1 DSW store. | |||||||
DSW separates its merchandise into four primary categories: women's footwear; men's footwear; athletic footwear; and accessories and other. The following table sets forth the approximate percentage of DSW segment sales attributable to each merchandise category for the periods presented: | |||||||
Fiscal | |||||||
Category | 2014 | 2013 | 2012 | ||||
Women's footwear | 61% | 62% | 65% | ||||
Men's footwear | 18% | 17% | 16% | ||||
Athletic footwear | 12% | 12% | 12% | ||||
Accessories and Other | 9% | 9% | 7% | ||||
DSW Inc., through its ABG segment, also partners with four other retailers to help build and optimize their footwear businesses. As of January 31, 2015, ABG supplied merchandise to 269 Stein Mart stores and Steinmart.com, 97 Gordmans stores and one Frugal Fannie’s store. During fiscal 2014, 2013 and 2012, ABG added 27, 18 and 19 new shoe departments, respectively, and ceased operations in 12, 6 and 11 shoe departments, respectively. In fiscal 2014, ABG opened four Yellow Box retail stores, which offer core fashion sandals, flats, dress shoes, boots and exclusive products in premier shopping destinations throughout the United States. Affiliated Business Group segment sales represented 5.8%, 5.8% and 5.9% of total DSW Inc. net sales for fiscal 2014, 2013 and 2012, respectively. |
Basis_of_Presentation_Notes
Basis of Presentation (Notes) | 12 Months Ended |
Jan. 31, 2015 | |
Basis of Presentation [Line Items] | |
Basis of Presentation [Text Block] | BASIS OF PRESENTATION |
Fiscal Year- DSW Inc.’s fiscal year ends on the Saturday nearest to January 31. The periods presented in these financial statements are the fiscal years ended January 31, 2015 ("fiscal 2014"), February 1, 2014 ("fiscal 2013") and February 2, 2013 ("fiscal 2012"). Fiscal 2014 and 2013 each consisted of 52 weeks, while fiscal 2012 consisted of 53 weeks. Unless otherwise stated, references to years in this report relate to fiscal years rather than calendar years. | |
Use of Estimates- The preparation of financial statements in conformity with accounting principles generally accepted in the United States ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Significant estimates are required as a part of inventory valuation, depreciation, amortization, customer loyalty program reserve, recoverability of long-lived assets and intangible assets, litigation reserves, exit and disposal obligations and establishing reserves for self-insurance. Although these estimates are based on management’s knowledge of current events and actions it may undertake in the future, actual results could differ from these estimates. | |
Principles of Consolidation- The consolidated financial statements include the accounts of DSW Inc. 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. | |
Merger with Retail Ventures, Inc. (the "Merger")- On May 26, 2011, Retail Ventures, Inc. (“Retail Ventures” or “RVI”) merged with and into DSW MS LLC (“Merger Sub”), with Merger Sub surviving the Merger and continuing as a wholly owned subsidiary of DSW Inc. 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. | |
The Merger was accounted for as a reverse merger with RVI as the accounting acquirer and DSW Inc. (the surviving legal entity) as the accounting acquiree. As this was a transaction between entities under common control under ASC 805, Business Combinations, the Merger was accounted for as an equity transaction in accordance with ASC 810, Consolidation, as the acquisition of a noncontrolling interest, and purchase accounting was not applied. As a result, there was no adjustment to RVI's historical cost carrying amounts of assets and liabilities. Pre-merger financial information presented in the DSW Inc. consolidated financial statements represents consolidated RVI financial information. References to Retail Ventures or RVI refer to the pre-merger entity. |
Investment_in_Town_Shoes_Limit
Investment in Town Shoes Limited | 12 Months Ended | ||||
Jan. 31, 2015 | |||||
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 Inc. completed its initial 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% 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 Capital, 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 Inc. 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 Inc. recognizes its share of Town Shoes' net income or loss. The difference between the purchase price and the Company'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 Inc.’s share of net income or loss of Town Shoes, DSW Inc.'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. The investment and note receivable in Town Shoes is required to be tested for impairment if there is determined to be an other than temporary loss in value. | |||||
Presented below is activity related to our portion of Town Shoes included in our consolidated balance sheets, consolidated statements of operations and consolidated statements of comprehensive income as of and for the year ended January 31, 2015. | |||||
Fiscal | |||||
2014 | |||||
(in thousands) | |||||
Balance at beginning of period | $ | — | |||
Initial investment | 22,339 | ||||
Acquisition costs | 2,897 | ||||
DSW Inc.'s portion of Town Shoes net income | 178 | ||||
Foreign currency translation adjustments included in "Other comprehensive income" | 729 | ||||
Amortization of purchase price adjustments | (256 | ) | |||
Balance at end of period | $ | 25,887 | |||
Fiscal | |||||
2014 | |||||
(in thousands) | |||||
Balance at beginning of period | $ | — | |||
Purchase of note receivable | 46,596 | ||||
Payment-in-kind interest | 3,891 | ||||
Foreign currency translation adjustments included in "Other comprehensive income" | (7,183 | ) | |||
Balance at end of period | $ | 43,304 | |||
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. |
Significant_Accounting_Policie
Significant Accounting Policies | 12 Months Ended | |
Jan. 31, 2015 | ||
Accounting Policies [Abstract] | ||
SIGNIFICANT ACCOUNTING POLICIES | SIGNIFICANT ACCOUNTING POLICIES | |
Sales and Revenue Recognition- Revenues from merchandise sales are recognized upon customer receipt of merchandise, are net of returns through period end, exclude sales tax and are not recognized until collectibility is reasonably assured. Merchandise can be demanded from a store, dsw.com or m.dsw.com. The demand can be fulfilled from a store, the dsw.com fulfillment center or drop shipped from a supplier's warehouse. If the product is shipped to a customer from a store, the dsw.com fulfillment center or a supplier's warehouse, DSW Inc. defers revenue for a period of time representing a lag for shipments to be received by the customer. Revenue from shipping and handling is recorded in net sales while the related costs are included in cost of sales. Revenue from gift cards is deferred and recognized upon redemption of the gift card. The Company's policy is to recognize income from breakage of gift cards when the likelihood of redemption of the gift card is remote. | ||
As of January 31, 2015, ABG supplies footwear, under supply arrangements, to four other retailers. Sales for these affiliated businesses are net of returns through period end and exclude sales tax, and are included in net sales. | ||
Cost of Sales- In addition to the cost of merchandise, which includes markdowns and shrinkage, the Company includes in cost of sales expenses associated with distribution and fulfillment (including depreciation) and store occupancy (excluding depreciation and including store impairments). Distribution and fulfillment expenses are comprised of labor costs, rent, depreciation, insurance, utilities, maintenance and other operating costs associated with the operations of the distribution and fulfillment centers. Distribution and fulfillment expenses also include the transportation of merchandise to the distribution and fulfillment centers, from the distribution center to stores and from the fulfillment center and from stores to the customer. Store occupancy expenses include rent, utilities, repairs, maintenance, insurance, janitorial costs and occupancy-related taxes, which are primarily real estate taxes passed to the Company by its landlords. | ||
Operating Expenses- Operating expenses include expenses related to store management and store payroll costs, advertising, ABG operations, store depreciation and amortization, new store advertising and other new store costs (which are expensed as incurred) and corporate expenses. Corporate expenses include expenses related to buying, information technology, depreciation expense for corporate cost centers, marketing, legal, finance, outside professional services, customer service center expenses, payroll and benefits for associates and payroll taxes. | ||
Stock-Based Compensation- The Company recognizes compensation expense for stock option awards, time-based restricted stock awards and performance-based restricted stock awards on a straight-line basis over the requisite service period of the award for the awards that vest in accordance with Accounting Standard Codification ("ASC") 718, Compensation – Stock Compensation. For stock options, the fair value of options granted is estimated on the date of grant using the Black-Scholes pricing model. This model assumes that the estimated fair value of options is amortized over the options’ vesting periods. The compensation costs, net of estimated forfeitures, are included in operating expenses in the consolidated statements of operations. | ||
The company grants performance-based restricted stock units and restricted stock units. Compensation cost is measured at fair value on the grant date and recorded over the vesting period, net of estimated forfeitures. Fair value is determined by multiplying the number of units granted by the grant date closing market price. | ||
In fiscal 2014, the Company granted Stock Appreciation Rights ("SARs") to a non-employee. 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. Beginning in fiscal 2014, the Company 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. 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 the Company is receiving the services. After the vesting period is complete, the Company will continue to remeasure the SARs using the Black-Scholes model as the instruments become subject to ASC 815, Derivatives and Hedging. | ||
New Store Costs- Costs associated with the opening of stores are expensed as incurred. New store costs, primarily pre-opening rent and marketing expenses, were $8.7 million, $7.9 million and $16.0 million for fiscal 2014, 2013 and 2012, respectively. New store costs primarily fluctuate with changes in the number of store openings. | ||
Marketing Expense- The production cost of advertising is expensed when the advertising first takes place. All other marketing costs are expensed as incurred. Marketing costs were $59.9 million, $56.2 million and $55.9 million in fiscal 2014, 2013 and 2012, respectively. | ||
Other Operating Income- Other operating income consists primarily of income from consignment sales, rental income, income from gift card breakage and insurance proceeds and is included in operating expenses in the statement of operations. The amount recorded in fiscal 2014, 2013 and 2012 was $17.3 million, $14.1 million and $14.5 million, respectively. Rental income was $4.5 million, $5.1 million and $1.2 million for fiscal 2014, fiscal 2013 and fiscal 2012, respectively. An award of damages of $5.3 million is included in other operating income in fiscal 2012. See Note 16 for a discussion of the award of damages. | ||
Income Taxes- Income taxes are accounted for using the asset and liability method. The Company is required to determine the aggregate amount of income tax expense to accrue and the amount which will be currently payable based upon tax statutes of each jurisdiction in which the Company does business. In making these estimates, income is adjusted based on a determination of GAAP for items that are treated differently by the applicable taxing authorities. Deferred tax assets and liabilities, as a result of these differences, are reflected on the balance sheet for temporary differences that will reverse in subsequent years. A valuation allowance is established against deferred tax assets when it is more likely than not that some or all of the deferred tax assets will not be realized. U.S. deferred income taxes are not provided on undistributed income of foreign subsidiaries where such earnings are considered to be permanently reinvested for the foreseeable future. | ||
Consistent with its historical financial reporting, the Company has elected to classify interest expense related to income tax liabilities, when applicable, as part of interest expense in its consolidated statements of operations rather than as part of income tax expense. The Company classifies income tax penalties as part of operating expenses in its consolidated statements of operations. | ||
Discontinued Operations- As a result of RVI’s disposition of Filene’s Basement during fiscal 2009, any changes to the gain on disposal of Filene’s Basement operations are included in discontinued operations. Any changes in the carrying value of assets with residual interest in the discontinued business are classified within continuing operations. See Note 16 for a discussion of discontinued operations. | ||
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 stock options, restricted stock units and performance-based restricted stock units. In previous periods, there was also potential dilution of common shares from warrants. See Note 6 for a detailed discussion of earnings per share. | ||
Financial Instruments- The following assumptions were used to estimate the fair value of each class of financial instruments: | ||
Cash and Equivalents- Cash and equivalents represent cash, money market funds and credit card receivables that generally settle within three days. Amounts due from banks for credit card transactions totaled $16.1 million and $13.2 million as of January 31, 2015 and February 1, 2014, respectively. The carrying amounts of cash and equivalents approximate fair value. The Company also reviews cash balances on a bank by bank basis to identify book overdrafts. Book overdrafts occur when the amount of outstanding checks exceed the cash deposited at a bank. The Company reclassifies book overdrafts, if any, to accounts payable. | ||
Restricted Cash- Restricted cash represents cash that is restricted as to withdrawal or usage. The carrying amount of restricted cash approximates fair value. The restricted cash balance is recorded in prepaid expenses and other current assets on the consolidated balance sheets and primarily consists of a mandatory cash deposit with the lender for outstanding letters of credit, as detailed in Note 10. | ||
Investments- The Company determines the balance sheet classification of its investments at the time of purchase and evaluates the classification at each balance sheet date. If the Company has the intent and ability to hold the investments to maturity, investments are classified as held-to-maturity. Held-to-maturity securities are stated at amortized cost plus accrued interest. Otherwise, investments are classified as available-for-sale. All income generated from these investments is recorded as interest income. The company evaluates its investments for impairment and whether impairment is other-than-temporary at each balance sheet date. See Note 8 for additional discussion of investments. | ||
Accounts and Notes Receivable- Accounts receivable are classified as current assets because the average collection period is generally shorter than one year. Accounts receivable are primarily construction and tenant allowance receivables from landlords and receivables from DSW Inc.'s affiliated business partners. The carrying amount approximates fair value because of the relatively short average collection period. The shareholder note receivable for Town Shoes is valued based on similar assets in active markets. The note receivable is classified as long-term as it is due in 2022. | ||
Concentration of Credit Risk- Financial instruments, which principally subject the Company to concentration of credit risk, consist of cash and equivalents and investments. The Company invests excess cash when available through financial institutions in money market accounts and short-term and long-term investments. At times, such amounts invested through banks may be in excess of FDIC insurance limits, and the Company mitigates the risk by utilizing multiple banks. | ||
Concentration of Vendor Risk- During fiscal 2014, 2013 and 2012, merchandise supplied by three key vendors accounted for approximately 18%, 19% and 18% of net sales, respectively. | ||
Fair Value- 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, the Company 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. | ||
Allowance for Doubtful Accounts- The Company monitors its exposure for credit losses and records related allowances for doubtful accounts. Allowances are estimated based upon specific accounts receivable balances, where a risk of default has been identified. For the fiscal years ended January 31, 2015 and February 1, 2014, the ending balance was $0.1 million and $0.3 million, respectively. | ||
Inventories- Merchandise inventories are stated at lower of cost or market, determined using the retail inventory method. The retail inventory method is used in the retail industry due to its practicality. Under the retail inventory method, the valuation of inventories at cost and the resulting gross profits are determined by applying a calculated cost to retail ratio to the retail value of inventories. The cost of the inventory reflected on the balance sheet is decreased by charges to cost of sales at the time the retail value of the inventory is lowered through the use of markdowns, which are reductions in prices due to customers’ perception of value. Hence, earnings are negatively impacted as the merchandise is marked down prior to sale. Markdowns establish a new cost basis for inventory. Changes in facts or circumstances do not result in the reversal of previously recorded markdowns or an increase in the newly established cost basis. Markdowns require management to make assumptions regarding customer preferences, fashion trends and consumer demand. | ||
Inherent in the calculation of inventories are certain significant management judgments and estimates, including setting the original merchandise retail value, markdowns, and estimates of losses between physical inventory counts, or shrinkage, which combined with the averaging process within the retail inventory method, can significantly impact the ending inventory valuation at cost and the resulting gross profit. The Company records a reduction to inventories and a charge to cost of sales for shrinkage. Shrinkage is calculated as a percentage of sales from the last physical inventory date. Estimates are based on both historical experience as well as recent physical inventory results. Stores physical inventory counts are taken on an annual basis and have supported shrinkage estimates. | ||
Property and Equipment- Property and equipment are stated at cost less accumulated depreciation determined by the straight-line method over the expected useful life of assets. The straight-line method is used to amortize such capitalized costs over the lesser of the expected useful life of the asset or the life of the lease. The estimated useful lives by class of asset are: | ||
Buildings | 39 years | |
Furniture, fixtures and equipment | 3 to 10 years | |
Building and leasehold improvements | 3 to 20 years or the lease term if that is shorter than the normal life of the asset | |
Asset Impairment and Long-Lived Assets- The Company 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. The carrying amount of a long-lived asset or asset group is considered impaired when the carrying value of the asset or asset group exceeds the expected future cash flows from the asset or asset group. The reviews are conducted at the lowest identifiable level, which has been identified as a store. The impairment loss recognized is the excess of the carrying value of the asset or asset group over its fair value, based on a discounted cash flow analysis using a discount rate determined by management. Should an impairment loss be realized, it will generally be included in cost of sales. The Company expensed $5.1 million and $0.8 million in fiscal 2014 and 2013, respectively, for assets where the recorded value could not be supported by projected future cash flows. The impairment charges in fiscal 2014 and fiscal 2013 were recorded in the DSW segment. There were no impairment charges in fiscal 2012. | ||
Goodwill- Goodwill represents the excess cost over the estimated fair values of net assets including identifiable intangible assets of businesses acquired. Goodwill is tested for impairment at least annually. Management evaluates fair value using market-based analysis to review market capitalization as well as reviewing a discounted cash flow analysis using management’s assumptions. Several factors could result in an impairment charge, such as failure to achieve sufficient levels of cash flow or a significant and sustained decline in stock price. Significant judgment is necessary to determine the underlying cause of the decline and whether stock price declines are related to the market or specifically to DSW Inc. The Company has never recorded a goodwill impairment. As of January 31, 2015 and February 1, 2014, the balance of goodwill related to DSW was $25.9 million. | ||
Self-insurance Reserves- The Company records estimates for certain health and welfare, workers' compensation and casualty insurance costs that are self-insured programs. Self-insurance reserves include actuarial estimates of both claims filed, carried at their expected ultimate settlement value, and claims incurred but not yet reported. The liability represents an estimate of the ultimate cost of claims incurred as of the balance sheet date. Estimates for health and welfare, workers’ compensation and general liability are calculated utilizing claims development estimates based on historical experience and other factors. The Company has purchased stop loss insurance to limit its exposure on a per person basis for health and welfare and on a per claim basis for workers' compensation and general liability, as well as on an aggregate annual basis. The self-insurance reserves were $4.0 million and $3.0 million as of January 31, 2015 and February 1, 2014, respectively. | ||
Customer Loyalty Program- The Company maintains a customer loyalty program for DSW in which program members earn reward certificates that result in discounts on future purchases. Upon reaching the target-earned threshold, the members receive reward certificates for these discounts which expire three months after being issued. The Company accrues the anticipated redemptions of the discount earned at the time of the initial purchase. To estimate these costs, the Company makes assumptions related to customer purchase levels and redemption rates based on historical experience. | ||
Legal Proceedings and Claims- The Company is involved in various legal proceedings that are incidental to the conduct of its business. The Company estimates the range of liability related to pending litigation where the amount of the range of loss can be estimated. The Company records its best estimate of a loss when the loss is considered probable, including an estimate of legal fees to be incurred. When a liability is probable and there is a range of estimated loss, the Company records an estimate of the amount of the liability related to the claim. See Note 16 for a discussion of legal proceedings. | ||
Deferred Rent- Many of the Company’s operating leases contain predetermined fixed increases of the minimum rentals during the initial lease terms. For these leases, the Company recognizes the related rental expense on a straight-line basis over the noncancelable terms of the lease. The Company records the difference between the amounts charged to expense and the rent paid as deferred rent and begins amortizing such deferred rent upon the delivery of the lease location by the lessor. Deferred rent is included in non-current liabilities. | ||
Construction and Tenant Allowances- The Company receives cash allowances from landlords, which are deferred and amortized on a straight-line basis over the noncancelable terms of the lease as a reduction of rent expense. Construction and tenant allowances are included in non-current liabilities. | ||
Exit and Disposal Obligations- The Company records a reserve when a store or office facility is abandoned due to closure or relocation. Using its credit-adjusted risk-free rate to present value the liability, the Company estimates future lease obligations based on remaining lease payments, estimated or actual sublease payments and any other relevant factors. On a quarterly basis, the Company reassesses the reserve based on current market conditions. See Note 16 for a discussion of exit and disposal obligations. | ||
Accumulated Other Comprehensive Loss- Accumulated other comprehensive loss is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. Fiscal 2014 included foreign currency translation adjustments. | ||
Co-Branded Credit Card- On April 30, 2014, the Company began to offer co-branded credit cards under a seven year agreement with an issuing bank, which allows members to earn points through purchases at DSW 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. The Company received an upfront signing bonus from the issuing bank, which is recognized on a straight-line basis over the life of the relationship. The Company 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, costs associated with rewards points and certificates are accrued as the points are earned by the cardholder and are 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 method investment in Town Shoes, the Company purchased $75 million CAD, which equated to approximately $69 million USD at the transaction date. As the Company's functional currency is USD, the purchase of CAD resulted in a foreign currency exchange gain of $0.6 million at the purchase date of Town Shoes. Gains or losses resulting from foreign currency transactions are included in operating expenses in the consolidated statement of operations, whereas translation adjustments are reported as an element of other 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, the Company is required to remeasure these balances into USD balances. Each quarter, the income or loss from Town Shoes is remeasured into USD at the average exchange rate for the period. The note receivable from Town Shoes is remeasured in USD at the exchange rate prevailing at the balance sheet date. As the Company has designated the note receivable from Town Shoes as an investment of a long-term investment nature, the Company records the translation gains and losses arising from changes in exchange rates in comprehensive income. | ||
Recent Accounting Pronouncements | ||
In April 2014, the Financial Accounting Standards Board ("FASB") issued standard No. 2014-08, which amends the requirement for reporting discontinued operations in ASC Subtopic 205-20 Discontinued Operations. The amendments in this Update improve the definition of discontinued operations by limiting discontinued operations reporting to disposals of components of an entity that represent strategic shifts that have (or will have) a major effect on an entity's operations and financial results. Under current U.S. GAAP, many disposals, some of which may be routine in nature and not a change in an entity's strategy, are reported in discontinued operations.The amendments in this Update require expanded disclosures for discontinued operations. Those disclosures should provide users of financial statements with more information about the assets, liabilities, revenues, and expenses of discontinued operations. The Company does not expect that its financial statements or disclosures will be impacted. | ||
In May 2014, the FASB and the International Accounting Standards Board released standard No. 2014-09 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. The Company is currently in process of evaluating the impact of the new standard on its financial statements and disclosures. | ||
In June 2014, the FASB issued standard No. 2014-12, which provided 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 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. The Company will not be affected by this guidance as the Company currently accounts for these awards in a manner consistent with the new guidance. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended | ||||||
Jan. 31, 2015 | |||||||
Related Party Transactions [Abstract] | |||||||
RELATED PARTY TRANSACTIONS | RELATED PARTY TRANSACTIONS | ||||||
Schottenstein Affiliates- As of January 31, 2015, 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, beneficially owned approximately 17% of outstanding DSW Common Shares representing approximately 49% of the combined voting power of outstanding DSW Common Shares. As of January 31, 2015, the Schottenstein Affiliates beneficially owned 7.3 million Class A Common Shares and 7.7 million Class B Common Shares. | |||||||
The Company leases certain store locations owned by Schottenstein Affiliates and purchases services and products from Schottenstein Affiliates. Accounts receivable from and payables 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 consolidated balance sheets. | |||||||
Corporate Office Headquarters and Distribution Center Acquisition- In fiscal 2012, DSW Inc. acquired 810 AC LLC, an Ohio limited liability company from certain Schottenstein affiliates, which owned property that was previously leased by DSW Inc. for its corporate office headquarters, its distribution center and a trailer parking lot. DSW Inc. leases certain portions of the properties to unrelated and related parties. DSW Inc. paid to sellers $72 million in cash, subject to credits and adjustments, for 810 AC LLC. As this was a transaction between entities under common control, as provided by ASC 805, there was no adjustment to the historical cost carrying amounts of assets transferred to DSW Inc. The difference between the historical cost carrying amounts and the consideration of $72 million transferred was an equity transaction. DSW Inc. also reduced the cost basis of the assets by the balance of tenant allowances and deferred rent recorded related to the properties. DSW Inc. received a step-up of tax basis to $72 million and the resulting tax effect, the difference between the financial reporting basis and tax basis, was also recorded to equity. In the first quarter of fiscal 2013, DSW Inc. recorded an adjustment to the tax impact of $3.3 million as a prior period adjustment between non-current deferred tax assets and basis difference related to acquisition of commonly controlled entity. | |||||||
On November 1, 2012, in connection the acquisition, 4300 East Fifth Avenue LLC, a Schottenstein affiliate, and DSW Inc.'s new wholly owned subsidiary, 810 AC LLC, entered into a cost sharing agreement (the “Cost Sharing Agreement”). In fiscal 2013, DSW Inc. contributed $3 million to replace the roof of one of the 810 AC LLC properties. | |||||||
Also on November 1, 2012, 810 AC LLC and Schottenstein Property Group, LLC (“SPG”), a Schottenstein affiliate, entered into a management agreement (the “Management Agreement”) pursuant to which SPG provides management and landlord, operation, repair, maintenance, replacement, and supervision services with respect to the properties owned by 810 AC LLC. As compensation, DSW Inc. pays SPG 4% of rents, or approximately $0.2 million on an annual basis. The term of the Management Agreement is three years, with automatic one year extensions after the initial term. The Management Agreement can be terminated by either party with 60 days notice. | |||||||
Consistent with DSW Inc.'s related party transaction policy, the audit committee of DSW Inc.'s board of directors reviewed and approved the transactions mentioned above. The following table highlights the key financial statement line items impacted by the transaction: | |||||||
Impact on Consolidated Financial Statements | Fiscal 2012 | Financial Statement Section/Line item | |||||
Impact on the Consolidated Statement of Cash Flows: | (in thousands) | ||||||
Historical cost carrying amount | $ | (32,443 | ) | Net cash and equivalents used in investing activities from continuing operations | |||
Equity impact of Corporate Headquarters and Distribution Center Acquisition | (39,557 | ) | Net cash and equivalents used in financing activities from continuing operations | ||||
Total cash transferred to the sellers | $ | (72,000 | ) | ||||
Impact on the Consolidated Balance Sheet: | |||||||
Historical cost carrying amount | $ | 32,443 | |||||
Less: Tenant allowances and deferred rent | (8,310 | ) | |||||
Total net book value of assets recorded | $ | 24,133 | Property and equipment, net | ||||
Impact on the Consolidated Statement of Shareholders' Equity: | |||||||
Equity impact of Corporate Headquarters and Distribution Center Acquisition | $ | (39,557 | ) | ||||
Tax impact of Corporate Headquarters and Distribution Center Acquisition | 17,877 | ||||||
Adjustment to the tax impact of basis difference of Corporate Headquarters and Distribution Center Acquisition | (3,313 | ) | |||||
Basis difference related to acquisition of commonly controlled entity | $ | (24,993 | ) | Acquisition of commonly controlled entity | |||
Prior to the transfer of the buildings to DSW Inc., lease payments by DSW Inc. for the buildings were $2.6 million for fiscal 2012. | |||||||
Equity Investment- In fiscal 2012, DSW received a return of capital of $1.2 million when the investment, which was majority held by a Schottenstein Affiliate, was sold to a third party. | |||||||
Other- Purchases and services from related parties were $0.9 million, $0.9 million and $1.3 million in fiscal 2014, 2013 and 2012, respectively. In fiscal 2013 and 2012, $1.8 million and $0.2 million, respectively, were reimbursements to a Schottenstein Affiliate in connection with DSW Inc.'s test sale of luxury merchandise, which were then primarily paid to unrelated vendors. | |||||||
License Agreement with Town Shoes- In May 2014, DSW Inc. 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 Inc. a royalty fee based on a percentage of net sales. The first two Canadian DSW stores opened in August 2014. |
Earnings_per_Share_and_Shareho
Earnings per Share and Shareholders' Equity | 12 Months Ended | ||||||||
Jan. 31, 2015 | |||||||||
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 stock options, restricted stock units ("RSUs"), performance-based restricted stock units ("PSUs") and warrants (through exercise date) calculated using the treasury stock method. | |||||||||
The following is a reconciliation of the number of shares used in the calculation of diluted earnings per share computations for the periods presented: | |||||||||
Fiscal | |||||||||
2014 | 2013 | 2012 | |||||||
(in thousands) | |||||||||
Weighted average shares outstanding | 89,499 | 90,472 | 88,846 | ||||||
Assumed exercise of dilutive stock options | 910 | 1,202 | 1,504 | ||||||
Assumed exercise of dilutive RSUs and PSUs | 203 | 227 | 256 | ||||||
Number of shares for computation of diluted earnings per share | 90,612 | 91,901 | 90,606 | ||||||
Options, RSUs and PSUs- For fiscal 2014, 2013 and 2012, the amount of potential shares that were not included in the computation of dilutive earnings per share because the effect would be anti-dilutive was approximately 1.1 million, 0.8 million and 0.6 million, respectively. | |||||||||
Warrants- For fiscal 2012, the assumed exercise of warrants for 0.2 million common shares were not included in the calculation of shares as the effect would have been anti-dilutive. There were no warrants outstanding as of January 31, 2015 and February 1, 2014. | |||||||||
Shareholders' Equity- On November 21, 2014, DSW Inc. announced that its Board of Directors had authorized the Company to increase the $100 million share repurchase program by an additional $50 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 fiscal 2014, the Company repurchased 3.0 million Class A Common Shares at a cost of $85.3 million. Life to date, the Company has repurchased a total of 3.0 million Class A Common Shares at a cost of $86.9 million. |
Stockbased_Compensation
Stock-based Compensation | 12 Months Ended | ||||||||||||||||||||||||||||||||
Jan. 31, 2015 | |||||||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||
STOCK-BASED COMPENSATION | STOCK-BASED COMPENSATION | ||||||||||||||||||||||||||||||||
The DSW Inc. 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 Inc. and affiliates, as well as directors. 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, shareholders approved the 2014 Equity Incentive Plan ("the 2014 Plan") which provides for the issuance of an additional 8.5 million shares of DSW Class A Common Shares. The Company will begin issuing shares under the 2014 Plan after the 2005 Plan expires in fiscal 2015. | |||||||||||||||||||||||||||||||||
Stock-Based Compensation Expense- The following table summarizes stock-based compensation expense for the periods presented: | |||||||||||||||||||||||||||||||||
Fiscal | |||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
Stock Options | $ | 5,827 | $ | 5,891 | $ | 5,459 | |||||||||||||||||||||||||||
Restricted Stock Units | 2,097 | 1,797 | 1,511 | ||||||||||||||||||||||||||||||
Performance-Based Restricted Stock Units | 1,324 | 503 | — | ||||||||||||||||||||||||||||||
Director Stock Units | 1,247 | 1,151 | 1,110 | ||||||||||||||||||||||||||||||
Total | $ | 10,495 | $ | 9,342 | $ | 8,080 | |||||||||||||||||||||||||||
Stock Options- The majority of the stock-based compensation awards are granted on an annual basis in the first quarter of each year. The risk-free interest rate is based on the yield for U.S. Treasury securities for the expected term of the options at the grant date. Expected volatility is based on the historical volatility of the DSW Common Shares. The expected term of options granted is derived from historical data on DSW Inc.'s stock option exercises. The dividend yield assumption is based on DSW Inc.'s expectation of future dividend payouts. Forfeitures of options are estimated at the grant date based on historical rates of DSW Inc.’s stock option activity and reduce the compensation expense recognized. | |||||||||||||||||||||||||||||||||
The following table illustrates the weighted-average assumptions used in the Black-Scholes pricing model for options granted in each of the periods presented: | |||||||||||||||||||||||||||||||||
Fiscal | |||||||||||||||||||||||||||||||||
Assumptions: | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Risk-free interest rate | 1.80% | 0.70% | 1.20% | ||||||||||||||||||||||||||||||
Annual volatility of DSW Common Shares | 44.50% | 53.40% | 56.20% | ||||||||||||||||||||||||||||||
Expected option term | 5.4 years | 4.7 years | 5.5 years | ||||||||||||||||||||||||||||||
Dividend yield | 2.30% | 1.30% | 1.20% | ||||||||||||||||||||||||||||||
Other Data: | |||||||||||||||||||||||||||||||||
Weighted average grant date fair value | $11.82 | $12.85 | $12.59 | ||||||||||||||||||||||||||||||
As of January 31, 2015, the total compensation cost related to unvested options not yet recognized was approximately $12.5 million, with a weighted average expense recognition period remaining of 1.9 years. For the periods presented, the following tables summarize stock option activity, related per share weighted average exercise prices (“WAEP”), weighted average remaining contract life and aggregate intrinsic value (shares and intrinsic value in thousands): | |||||||||||||||||||||||||||||||||
Fiscal | |||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Shares | WAEP | Shares | WAEP | Shares | WAEP | ||||||||||||||||||||||||||||
Outstanding beginning of year | 3,347 | $ | 17.62 | 3,694 | $ | 14.5 | 5,016 | $ | 11.22 | ||||||||||||||||||||||||
Granted | 502 | $ | 34.49 | 492 | $ | 31.75 | 674 | $ | 27.47 | ||||||||||||||||||||||||
Increase in options from dividend adjustment | — | — | — | — | 128 | — | |||||||||||||||||||||||||||
Exercised | (505 | ) | $ | 10.22 | (748 | ) | $ | 10.99 | (2,004 | ) | $ | 9.62 | |||||||||||||||||||||
Forfeited | (188 | ) | $ | 27.32 | (91 | ) | $ | 21.79 | (120 | ) | $ | 15.82 | |||||||||||||||||||||
Outstanding end of year | 3,156 | $ | 20.91 | 3,347 | $ | 17.62 | 3,694 | $ | 14.5 | ||||||||||||||||||||||||
Options exercisable end of year | 1,682 | $ | 15.16 | 1,430 | $ | 13.08 | 1,260 | $ | 12.76 | ||||||||||||||||||||||||
As of January 31, 2015: | Shares | WAEP | Weighted Average Remaining Contract Life | Aggregate Intrinsic Value | |||||||||||||||||||||||||||||
Options exercisable | 1,682 | $ | 15.16 | 4.3 years | $ | 34,316 | |||||||||||||||||||||||||||
Options expected to vest | 1,285 | $ | 27.65 | 7.7 years | 10,177 | ||||||||||||||||||||||||||||
Options vested and expected to vest | 2,967 | $ | 20.57 | 5.8 years | $ | 44,493 | |||||||||||||||||||||||||||
Year of Grant | Range of Exercise Prices | Weighted Average Remaining Contract Life | Options Outstanding | Options Exercisable | |||||||||||||||||||||||||||||
Min | Max | Options Outstanding | WAEP | Aggregate Intrinsic Value | Options Exercisable | WAEP | Aggregate Intrinsic Value | ||||||||||||||||||||||||||
2005 - expire 2015 | $ | 8.84 | $ | 8.84 | 0.4 years | 109 | $ | 8.84 | $ | 2,908 | 109 | $ | 8.84 | $ | 2,908 | ||||||||||||||||||
2006 - expire 2016 | $ | 12.93 | $ | 14.5 | 1.6 years | 93 | $ | 12.99 | 2,110 | 93 | $ | 12.99 | 2,110 | ||||||||||||||||||||
2007 - expire 2017 | $ | 10.42 | $ | 19.94 | 2.2 years | 301 | $ | 19.83 | 4,735 | 301 | $ | 19.83 | 4,735 | ||||||||||||||||||||
2008 - expire 2018 | $ | 6.01 | $ | 9.15 | 3.2 years | 170 | $ | 6.19 | 5,006 | 170 | $ | 6.19 | 5,006 | ||||||||||||||||||||
2009 - expire 2019 | $ | 4.65 | $ | 7 | 4.2 years | 176 | $ | 4.76 | 5,415 | 176 | $ | 4.76 | 5,415 | ||||||||||||||||||||
2010 - expire 2020 | $ | 12.34 | $ | 12.38 | 5.1 years | 503 | $ | 12.37 | 11,659 | 352 | $ | 12.37 | 8,170 | ||||||||||||||||||||
2011 - expire 2021 | $ | 17.43 | $ | 22.71 | 6.1 years | 428 | $ | 17.49 | 7,737 | 221 | $ | 17.48 | 3,996 | ||||||||||||||||||||
2012 - expire 2022 | $ | 26.66 | $ | 27.18 | 7.2 years | 519 | $ | 26.67 | 4,611 | 194 | $ | 26.67 | 1,721 | ||||||||||||||||||||
2013 - expire 2023 | $ | 31.68 | $ | 31.68 | 8.1 years | 392 | $ | 31.68 | 1,520 | 66 | $ | 31.68 | 255 | ||||||||||||||||||||
2014 - expire 2024 | $ | 25.24 | $ | 37.88 | 9.3 years | 465 | $ | 34.4 | 539 | 0 | $ | — | — | ||||||||||||||||||||
Total | $ | 4.65 | $ | 37.88 | 5.9 years | 3,156 | $ | 20.91 | $ | 46,240 | 1,682 | $ | 15.16 | $ | 34,316 | ||||||||||||||||||
The aggregate intrinsic value is calculated as the amount by which the fair value of the underlying common shares exceeds the option exercise price. The total intrinsic value of options exercised during fiscal 2014, 2013 and 2012 was $11.9 million, $20.9 million and $41.7 million, respectively. The total fair value of options that vested during fiscal 2014, 2013 and 2012 was $2.5 million, $3.8 million and $4.8 million, respectively. | |||||||||||||||||||||||||||||||||
Restricted Stock Units ("RSU")- Beginning in fiscal 2013, RSUs granted generally cliff vest over three years, and prior to fiscal 2013, RSUs granted cliff vest over four years. The aggregate intrinsic value is calculated as the amount by which the fair value of the underlying common shares exceeds the exercise price. The total intrinsic value of RSUs that vested during fiscal 2014, 2013 and 2012 was $3.7 million, $4.0 million and $5.6 million, respectively. The total fair value of RSUs that vested during fiscal 2014, 2013 and 2012 was $1.4 million, $0.7 million and $1.2 million, respectively. As of January 31, 2015, the total compensation cost related to nonvested RSUs not yet recognized was approximately $5.0 million with a weighted average expense recognition period remaining of 1.7 years. The weighted average exercise price for all RSUs is zero. | |||||||||||||||||||||||||||||||||
For the periods presented, the following tables summarize RSU activity, weighted average grant date fair value (“GDFV”) and aggregate intrinsic value (units and intrinsic value in thousands): | |||||||||||||||||||||||||||||||||
Fiscal | |||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Units | GDFV | Units | GDFV | Units | GDFV | ||||||||||||||||||||||||||||
Outstanding beginning of year | 377 | $ | 23.41 | 436 | $ | 15.39 | 546 | $ | 9.33 | ||||||||||||||||||||||||
Granted | 103 | $ | 34.53 | 92 | $ | 35.5 | 114 | $ | 27.48 | ||||||||||||||||||||||||
Vested | (114 | ) | $ | 14.11 | (136 | ) | $ | 5.51 | (208 | ) | $ | 5.86 | |||||||||||||||||||||
Forfeited | (46 | ) | $ | 29.55 | (15 | ) | $ | 29.46 | (16 | ) | $ | 16.82 | |||||||||||||||||||||
Outstanding end of year | 320 | $ | 29.21 | 377 | $ | 23.41 | 436 | $ | 15.39 | ||||||||||||||||||||||||
Weighted Average | Aggregate | ||||||||||||||||||||||||||||||||
Remaining | Intrinsic | ||||||||||||||||||||||||||||||||
As of January 31, 2015: | Units | GDFV | Contract Life | Value | |||||||||||||||||||||||||||||
RSUs expected to vest | 255 | $ | 29.4 | 1.3 years | $ | 9,066 | |||||||||||||||||||||||||||
Performance-Based Restricted Stock Units ("PSU")- The Company granted PSUs beginning in fiscal 2013. These awards cliff vest at the end of a three-year period based upon achievement of pre-established goals as of the end of the first year of the term. PSUs receive dividend equivalents in the form of additional PSUs, which are subject to the same restrictions and forfeiture provisions as the original award. Consistent with RSUs, the grant date fair value of PSUs is based on the closing market price of DSW Class A Common Shares on the date of grant. As of January 31, 2015, the total compensation cost related to nonvested PSUs not yet recognized was approximately $3.9 million with a weighted average expense recognition period remaining of 2.0 years. The weighted average exercise price for all PSUs is zero. | |||||||||||||||||||||||||||||||||
For the periods presented, the following tables summarize PSU activity, GDFV and aggregate intrinsic value (units and intrinsic value in thousands): | |||||||||||||||||||||||||||||||||
Fiscal | |||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
Units | GDFV | Units | GDFV | ||||||||||||||||||||||||||||||
Outstanding beginning of year | 69 | $ | 31.76 | — | $ | — | |||||||||||||||||||||||||||
Granted | 111 | $ | 34.52 | 69 | $ | 31.76 | |||||||||||||||||||||||||||
Vested | — | — | — | $ | — | ||||||||||||||||||||||||||||
Forfeited | (7 | ) | $ | 32.74 | — | $ | — | ||||||||||||||||||||||||||
Outstanding end of year | 173 | $ | 33.5 | 69 | $ | 31.76 | |||||||||||||||||||||||||||
Weighted Average | Aggregate | ||||||||||||||||||||||||||||||||
Remaining | Intrinsic | ||||||||||||||||||||||||||||||||
As of January 31, 2015: | Units | GDFV | Contract Life | Value | |||||||||||||||||||||||||||||
PSUs expected to vest | 142 | $ | 33.5 | 1.9 years | $ | 5,052 | |||||||||||||||||||||||||||
Director Stock Units- The Company issues stock units to directors who are not employees. Stock units are automatically granted to each non-employee director on the date of each annual meeting of shareholders based on the fair market value of DSW Class A Common Shares. In addition, each director eligible to receive compensation for board service may elect to have the cash portion of such directors’ compensation paid in the form of stock units. Stock units granted to directors vest immediately and are settled upon the director terminating service from the board. For grants beginning in fiscal 2012, directors were given the option to exercise their units at a specified point in the future or upon completion of service. Stock units granted to directors, which are not subject to forfeiture, are considered to be outstanding for the purposes of computing basic earnings per share. The exercise price of the director stock units is zero. The following table summarizes director stock unit activity (units in thousands): | |||||||||||||||||||||||||||||||||
Fiscal | |||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Outstanding beginning of year | 330 | 316 | 384 | ||||||||||||||||||||||||||||||
Granted | 52 | 34 | 54 | ||||||||||||||||||||||||||||||
Exercised | (22 | ) | (20 | ) | (122 | ) | |||||||||||||||||||||||||||
Outstanding end of year | 360 | 330 | 316 | ||||||||||||||||||||||||||||||
Stock Appreciation Rights ("SARs")- The 2005 Plan also covers the issuance of SARs. DSW Inc. entered into a SARs agreement with a non-employee on June 16, 2014, wherein DSW Inc. granted a total of 0.5 million SARs in two equal tranches with respect to DSW Class A Common Shares. The SARs have an expiration date of June 15, 2017, and will vest and become exercisable on the earlier of the one year anniversary of contract termination or 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 year ended January 31, 2015, the total expense related to SARs was approximately $1.7 million. | |||||||||||||||||||||||||||||||||
The fair value of the SARs was estimated using the Black-Scholes pricing model with the following assumptions for the period presented: | |||||||||||||||||||||||||||||||||
Assumptions: | As of January 31, 2015 | ||||||||||||||||||||||||||||||||
Risk-free interest rate | 0.60% | ||||||||||||||||||||||||||||||||
Expected volatility of DSW Common Shares | 24.90% | ||||||||||||||||||||||||||||||||
Expected term | 2.3 years | ||||||||||||||||||||||||||||||||
Expected dividend yield | 2.30% |
Investments
Investments | 12 Months Ended | |||||||||||||||
Jan. 31, 2015 | ||||||||||||||||
Investments [Abstract] | ||||||||||||||||
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | INVESTMENTS | |||||||||||||||
The majority of the Company’s available-for-sale investments are primarily municipal bonds with renewal dates of every 7 days. For the available-for-sale bonds, the carrying value equals the fair value. 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. The following table discloses the major categories of the Company’s investments as of the periods presented: | ||||||||||||||||
Short-term investments | Long-term investments | |||||||||||||||
January 31, 2015 | February 1, 2014 | January 31, 2015 | February 1, 2014 | |||||||||||||
(in thousands) | ||||||||||||||||
Available-for-sale: | ||||||||||||||||
Bonds | $ | 17,147 | $ | 22,050 | — | — | ||||||||||
Held-to-maturity: | ||||||||||||||||
Term notes and bonds | $ | 154,054 | 202,048 | $ | 216,756 | $ | 243,188 | |||||||||
Total investments | $ | 171,201 | $ | 224,098 | $ | 216,756 | $ | 243,188 | ||||||||
Gross holding gains | $ | 117 | $ | 151 | $ | 371 | $ | 561 | ||||||||
Gross holding losses | $ | 50 | $ | 82 | $ | 317 | $ | 376 | ||||||||
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||||||||||
Jan. 31, 2015 | ||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||
Fair Value Measurements | FAIR VALUE MEASUREMENTS | |||||||||||||||||||||||
Financial Assets- The following table presents financial assets at fair value as of the periods presented: | ||||||||||||||||||||||||
31-Jan-15 | 1-Feb-14 | |||||||||||||||||||||||
Total | Level 1 | Level 2 | Total | Level 1 | Level 2 | |||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Financial Assets: | ||||||||||||||||||||||||
Cash and equivalents | $ | 59,171 | $ | 59,171 | — | $ | 112,021 | $ | 112,021 | — | ||||||||||||||
Short-term investments(a) | 171,268 | — | $ | 171,268 | 224,167 | — | $ | 224,167 | ||||||||||||||||
Long-term investments(a) | 216,810 | — | 216,810 | 243,373 | — | 243,373 | ||||||||||||||||||
Note receivable from Town Shoes (b) | 43,304 | — | 43,304 | — | — | — | ||||||||||||||||||
Total Financial Assets | $ | 490,553 | $ | 59,171 | $ | 431,382 | $ | 579,561 | $ | 112,021 | $ | 467,540 | ||||||||||||
(a) Short-term and long-term investments include available-for-sale and held-to maturity investments, which are valued using a market-based approach using level 2 inputs such as prices of similar assets in active markets. | ||||||||||||||||||||||||
(b) The shareholder note is valued based on similar assets in active markets. | ||||||||||||||||||||||||
Non-Financial Assets- The Company 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. | ||||||||||||||||||||||||
In fiscal 2014 and fiscal 2013, the Company recognized impairment losses on leasehold improvements used in DSW stores. The Company determined that the carrying value exceeded the expected future cash flows and recorded an impairment after determining fair value based on the discounted future cash flow analysis using a discount rate determined by management based on historical performance and expectations of future performance. The following table presents the activity related to the fair value of assets held and used that realized an impairment loss for the periods presented: | ||||||||||||||||||||||||
Total Losses | ||||||||||||||||||||||||
As of January 31, 2015 | Fiscal | |||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Fair Value as of the Impairment Date | 2014 | 2013 | |||||||||||||||||||
(in thousands) | (in thousands) | |||||||||||||||||||||||
Assets held and used | — | — | — | — | $ | 5,095 | $ | 809 | ||||||||||||||||
Debt_Obligations_and_Warrant_L
Debt Obligations and Warrant Liabilities | 12 Months Ended | |
Jan. 31, 2015 | ||
Debt Disclosure [Abstract] | ||
Debt Obligations and Warrant Liabilities | ||
DEBT OBLIGATIONS AND DERIVATIVE INSTRUMENTS | ||
$50 Million Secured Credit Facility- On August 2, 2013, the Company entered into a secured revolving credit agreement (the "Credit Facility"). The Credit Facility, together with the Letter of Credit Agreement (defined below), amended and restated the prior credit facility, dated June 30, 2010. The Credit Facility reduced the amount of revolving credit commitments from $100 million to $50 million, allowed DSW to transfer its outstanding letters of credit and has a term of five years that will expire on July 31, 2018. The Credit Facility may be increased by up to $100 million upon the Company's request and the increase would be subject to lender availability, DSW Inc.'s financial condition and compliance with covenants. The Credit Facility is secured by a lien on substantially all of DSW Inc.'s personal property assets and its subsidiaries with certain exclusions and may be used to provide funds for general corporate purposes, to provide for ongoing working capital requirements and to make permitted acquisitions. Revolving credit loans bear interest under the Credit Facility at the Company's option under: (a) a base rate option at a rate per annum equal to the highest of (i) the Federal Funds Open Rate (as defined in the Credit Facility), plus 0.5%, (ii) the Lender's prime rate, and (iii) the Daily LIBOR Rate (as defined in the Credit Facility) plus 1.0%, plus in each instance an applicable margin, which is between 1.00 and 1.25, based upon revolving credit availability; or (b) a LIBOR option at a rate equal to the LIBOR Rate (as defined in the Credit Facility), plus an applicable margin based upon the Company's revolving credit availability. In addition, the Credit Facility contains restrictive covenants relating to management and the operation of DSW Inc.'s business. These covenants, among other things, limit or restrict DSW Inc.'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 Inc. 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. The Company paid $98.1 million for capital expenditures in fiscal 2014. | ||
As of January 31, 2015 and February 1, 2014, the Company had no outstanding borrowings under the Credit Facility and had availability under the facility of $50.0 million and $49.4 million, respectively. As of February 1, 2014, the Company had outstanding letters of credit of $0.6 million under the Credit Facility. | ||
Total interest expense related to the Credit Facility for fiscal 2013 and 2012 included fees, such as commitment and line of credit fees of $0.3 million and $0.6 million, respectively. Interest expense related to the Credit Facility for fiscal 2014 was less than $0.1 million. | ||
$50 Million Letter of Credit Agreement- Also on August 2, 2013, the Company 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. The Letter of Credit Agreement requires compliance with conditions precedent that must be satisfied prior to issuing any letter of credit or extension. In addition, the Letter of Credit Agreement contains restrictive covenants relating to the Company's management and the operation of the Company's business. These covenants, among other things, limit or restrict the Company'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. An event of default may cause the applicable interest rate and fees to increase by 2% per annum. | ||
As of January 31, 2015 and February 1, 2014, the Company had $9.3 million and $5.6 million, respectively, in outstanding letters of credit under the Letter of Credit Agreement, and $11.5 million and $6.1 million, respectively, in restricted cash on deposit as collateral under the Letter of Credit Agreement. The restricted cash balance is recorded in prepaid expenses and other current assets on the consolidated balance sheets. | ||
Warrants- The warrants originally issued by RVI on September 26, 2002 and updated on July 5, 2005 in connection with previously paid credit facilities qualified as derivatives under ASC 815. In fiscal 2012, the Company issued 1.5 million of its Class B Common Shares, without par value, to the Schottenstein Affiliates in connection with the exercise of its outstanding warrants. The Common Shares were issued at an exercise price of $5.17 per share, for an aggregate cash purchase price of $7.8 million, and the Company paid accrued dividends of $1.5 million related to the special dividend issued on September 30, 2011. In connection with this exercise and in addition to the purchase price, the Company reclassified $35.4 million from the warrant liability to paid in capital during fiscal 2012. The change in fair value of derivative instruments on the Company's consolidated statements of operations was $6.1 million for the fiscal year ended February 2, 2013. |
Property_and_Equipment_Net
Property and Equipment, Net | 12 Months Ended | ||||||||
Jan. 31, 2015 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
PROPERTY AND EQUIPMENT | PROPERTY AND EQUIPMENT, NET | ||||||||
The balance sheet caption "Property and equipment, net" was comprised of the following as of the periods presented: | |||||||||
January 31, 2015 | February 1, 2014 | ||||||||
(in thousands) | |||||||||
Property and equipment: | |||||||||
Land | $ | 1,110 | $ | 1,110 | |||||
Furniture, fixtures and equipment | 437,745 | 387,913 | |||||||
Buildings, building and leasehold improvements | 353,283 | 325,340 | |||||||
Total property and equipment | 792,138 | 714,363 | |||||||
Accumulated depreciation and amortization | (454,235 | ) | (395,743 | ) | |||||
Property and equipment, net | $ | 337,903 | $ | 318,620 | |||||
Accrued_Expenses
Accrued Expenses | 12 Months Ended | ||||||||
Jan. 31, 2015 | |||||||||
Payables and Accruals [Abstract] | |||||||||
ACCRUED EXPENSES | ACCRUED EXPENSES | ||||||||
The balance sheet caption "Accrued expenses" was comprised of the following as of the periods presented: | |||||||||
January 31, 2015 | February 1, 2014 | ||||||||
(in thousands) | |||||||||
Gift cards and merchandise credits | $ | 40,313 | $ | 37,651 | |||||
Compensation | 11,317 | 18,043 | |||||||
Taxes | 16,798 | 13,581 | |||||||
Customer loyalty program | 14,788 | 19,547 | |||||||
Other(1) | 29,964 | 26,875 | |||||||
Total accrued expenses | $ | 113,180 | $ | 115,697 | |||||
(1) Other is comprised of deferred revenue, guarantees, sales return allowance and various other accrued expenses including advertising expenses, professional fees and rent. |
NonCurrent_Liabilities
Non-Current Liabilities | 12 Months Ended | ||||||||
Jan. 31, 2015 | |||||||||
Other Liabilities Disclosure [Abstract] | |||||||||
OTHER NON-CURRENT LIABILITIES | NON-CURRENT LIABILITIES | ||||||||
The balance sheet caption "Non-current liabilities" was comprised of the following as of the periods presented: | |||||||||
January 31, 2015 | February 1, 2014 | ||||||||
(in thousands) | |||||||||
Construction and tenant allowances | $ | 85,244 | $ | 84,464 | |||||
Deferred rent | 38,021 | 37,985 | |||||||
Other(1) | 20,068 | 15,849 | |||||||
Total non-current liabilities | $ | 143,333 | $ | 138,298 | |||||
(1) Other is comprised of a loss under an operating lease, income tax reserves and deferred compensation. | |||||||||
The Company estimated its future liability under a lease of an office building assumed in the merger based on its current lease payments and executory costs, net of estimated sublease rentals. The Company estimated inflationary increases in its executory costs (utilities and real estate taxes) and used its credit-adjusted risk-free rate to present value its liability. The non-cash impairment charges were included in operating expenses in fiscal 2012 and fiscal 2011. The liability is currently $10.9 million and is included in other non-current liabilities. |
Leases
Leases | 12 Months Ended | |||||||||||
Jan. 31, 2015 | ||||||||||||
Leases [Abstract] | ||||||||||||
Leases of Lessee Disclosure [Text Block] | LEASES | |||||||||||
The Company leases stores, its fulfillment center and other facilities under various arrangements with related and unrelated parties. Such leases expire through 2028 and in most cases provide for renewal options. Generally, the Company is required to pay base rent, real estate taxes, maintenance, insurance and contingent rentals based on sales in excess of specified levels. Under supply agreements, the Company pays contingent rents based on sales for the shoe departments it operates through ABG. As of January 31, 2015 and February 1, 2014, the Company had no capital leases. | ||||||||||||
As of January 31, 2015, the Company leased or had other agreements with entities affiliated with Schottenstein Affiliates for 19 store locations and its fulfillment center for a total annual minimum rent for fiscal 2014 of $9.2 million. The Company leased a portion of its corporate office headquarters to a Schottenstein Affiliate for annual rent of $0.2 million. On December 6, 2014, this lease was terminated. Related party rental income for fiscal 2014, fiscal 2013 and fiscal 2012 was $0.1 million, $0.2 million and $0.1 million, respectively. | ||||||||||||
The following table presents future minimum lease payments required under the aforementioned leases, excluding real estate taxes, insurance and maintenance costs, as of January 31, 2015: | ||||||||||||
Total | Unrelated | Related | ||||||||||
Party | Party | |||||||||||
Fiscal years | (in thousands) | |||||||||||
2015 | $ | 183,635 | $ | 174,196 | $ | 9,439 | ||||||
2016 | 172,263 | 163,308 | 8,955 | |||||||||
2017 | 151,361 | 143,153 | 8,208 | |||||||||
2018 | 130,171 | 125,780 | 4,391 | |||||||||
2019 | 112,854 | 109,039 | 3,815 | |||||||||
Future years | 378,699 | 371,577 | 7,122 | |||||||||
Total minimum lease payments (1) | $ | 1,128,983 | $ | 1,087,053 | $ | 41,930 | ||||||
(1) Minimum payments have been reduced by minimum sublease rentals of $1.4 million due in the future under noncancelable subleases. | ||||||||||||
The following table presents the composition of rental expense for the periods presented: | ||||||||||||
Fiscal | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(in thousands) | ||||||||||||
Minimum rentals: | ||||||||||||
Unrelated parties | $ | 147,771 | $ | 137,602 | $ | 127,061 | ||||||
Related parties | 9,189 | 10,486 | 12,855 | |||||||||
Contingent rentals: | ||||||||||||
Unrelated parties | 31,499 | 29,639 | 26,502 | |||||||||
Total | $ | 188,459 | $ | 177,727 | $ | 166,418 | ||||||
Benefit_Plans
Benefit Plans | 12 Months Ended | ||||||||||
Jan. 31, 2015 | |||||||||||
Compensation and Retirement Disclosure [Abstract] | |||||||||||
PENSION PLAN | BENEFIT PLANS | ||||||||||
Filene's Basement Defined Benefit 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, the Company adopted a plan amendment to terminate the plan with a proposed termination date of March 11, 2012. In April 2013, the Company 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. The Company contributed a final contribution of $5.0 million to fully fund the plan. In the second quarter of fiscal 2013, the Company 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 an income tax benefit of $5.3 million, which was reclassified from accumulated other comprehensive loss to the statement of operations 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 periods presented: | |||||||||||
Fiscal | |||||||||||
2013 | 2012 | Location on Consolidated Statements of Operations | |||||||||
(in thousands) | |||||||||||
Beginning Balance | $ | (8,758 | ) | $ | (8,486 | ) | |||||
Reclassification adjustments: | |||||||||||
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 | |||||||
Other changes to accumulated other comprehensive loss: | |||||||||||
Change in minimum pension liability | (177 | ) | (413 | ) | |||||||
Unrealized gains on securities | — | 141 | |||||||||
Ending Balance | $ | — | $ | (8,758 | ) | ||||||
The following table provides a reconciliation of projected benefit obligations, plan assets and funded status of the plan as of the period presented: | |||||||||||
February 1, 2014 | |||||||||||
(in thousands) | |||||||||||
Change in projected benefit obligation: | |||||||||||
Projected benefit obligation at beginning of year | $ | 23,005 | |||||||||
Interest cost | 843 | ||||||||||
Benefits paid | (23,218 | ) | |||||||||
Settlement gain | (270 | ) | |||||||||
Actuarial gain | (360 | ) | |||||||||
Projected benefit obligation at end of year | — | ||||||||||
Change in plan assets: | |||||||||||
Fair market value at beginning of year | 18,461 | ||||||||||
Actual loss on plan assets | (97 | ) | |||||||||
Employer contributions | 5,027 | ||||||||||
Benefits paid | (23,218 | ) | |||||||||
Other | (173 | ) | |||||||||
Fair market value at end of year | $ | — | |||||||||
The components of net periodic benefit cost are comprised of the following for the periods presented: | |||||||||||
Fiscal | |||||||||||
2013 | 2012 | ||||||||||
(in thousands) | |||||||||||
Interest cost | $ | 843 | $ | 919 | |||||||
Expected return on plan assets | (808 | ) | (1,208 | ) | |||||||
Loss recognized due to settlements | 14,224 | 67 | |||||||||
Amortization of net loss | 494 | 398 | |||||||||
Net periodic benefit cost | $ | 14,753 | $ | 176 | |||||||
For the periods presented, other changes in plan assets and benefit obligations recognized in net periodic cost and other comprehensive income loss consist of: | |||||||||||
Fiscal | |||||||||||
2013 | 2012 | ||||||||||
(in thousands) | |||||||||||
Net actuarial loss | $ | 671 | $ | 1,717 | |||||||
Loss recognized due to settlements | (14,224 | ) | (67 | ) | |||||||
Amortization of net loss | (494 | ) | (398 | ) | |||||||
Total recognized in other comprehensive (income) loss | (14,047 | ) | 1,252 | ||||||||
Net periodic benefit cost | 14,753 | 176 | |||||||||
Total recognized in net periodic benefit cost and other comprehensive income | $ | 706 | $ | 1,428 | |||||||
Other Benefit Plans | |||||||||||
401(k) Plan- The Company sponsors a 401(k) Plan (the "Plan"). Eligible employees may contribute up to fifty percent of their compensation to the 401(k) Plan, on a pre-tax basis, subject to Internal Revenue Service limitations. As of the first day of the month following an employee’s completion of six months and 500 hours of service as defined under the terms of the 401(k) Plan, the Company matches employee deferrals, 100% on the first 3% of eligible compensation deferred and 50% on the next 2% of eligible compensation deferred. Additionally, the Company may contribute a discretionary profit sharing amount to the Plan each year but has not for the past three fiscal years. The Company incurred costs associated with the Plan of $3.2 million, $3.1 million and $2.4 million for fiscal 2014, 2013 and 2012, respectively. | |||||||||||
Deferred Compensation Plan- The Company sponsors a non-qualified deferred compensation plan for certain executives and non-employee members of the Board of Directors that is intended to defer the receipt of compensation. As of January 31, 2015 and February 1, 2014, the plan liability was $2.2 million and $2.3 million, respectively. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended |
Jan. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | COMMITMENTS AND CONTINGENCIES |
Legal Proceedings- The Company 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 results of operations or financial condition. As additional information becomes available, the Company will assess the potential liability related to its pending litigation and revise the estimates as needed. | |
As previously reported, on March 8, 2005, RVI announced that it had learned of the theft of credit card and other information from a portion of DSW's customers. In fiscal 2005, DSW Inc. incurred a loss of approximately $6.0 million related to this incident. DSW Inc. filed a claim for coverage with its insurance carrier, which the insurance carrier denied. DSW Inc. brought suit in federal district court and won a ruling that coverage applied and was awarded $6.8 million in damages. The insurance company appealed that decision, and oral arguments on the appeal occurred in July 2012. On August 23, 2012, DSW Inc. received notification from the Sixth Circuit Court of Appeals that the damages award was affirmed, and in September 2012, DSW Inc. received $7.2 million from the insurance carrier, $1.9 million of which represented accrued interest on the award. As this was a gain contingency resulting from a litigation, DSW Inc. recognized the award at the time of receipt of cash from the insurance carrier. In the statement of operations, $5.3 million was classified as other operating income, which was included in operating expenses, and $1.9 million related to interest was classified as interest income. | |
Guarantees and Liabilities related to Discontinued Operations- As of the effective time of the Merger, a subsidiary of DSW Inc. assumed the obligations under RVI’s guarantees related to discontinued operations. DSW Inc. may become subject to various risks related to guarantees and in certain circumstances may be responsible for certain other liabilities related to discontinued operations. Changes in the amount of guarantees and liabilities related to discontinued operations are included in the loss from discontinued operations on the statements of operations. When a liability is probable and there is a range of estimated loss, the Company records its 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, the Company will recognize a reduction of the associated liability. | |
Filene’s Basement- Following the Merger, a subsidiary of DSW Inc., Merger Sub, assumed RVI’s obligations under lease guarantees for three Filene’s Basement retail store locations for leases assumed by Syms in its purchase of Filene’s Basement in fiscal 2009. In fiscal 2011, Syms and Filene’s Basement filed for bankruptcy protection ("2011 Syms and Filene's Basement bankruptcy") and liquidated all of their stores in December 2011. DSW Inc. recorded a liability of $9.0 million related to lease guarantees for two locations in fiscal 2011, and in the first quarter of fiscal 2012 adjusted the liability to $7.0 million based on current information available to DSW Inc., which resulted in an update of DSW Inc.'s most likely estimated liability. DSW Inc. assumed the lease for the third location in fiscal 2011 and is operating a store at this location. In the third quarter of fiscal 2013, DSW Inc. settled the dispute over the guarantee for the Bergen, New Jersey location, and the case was dismissed. As of January 31, 2015, the estimated liability was $3.1 million for the 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. In April 2012, the landlord advised Merger Sub that it had signed a lease with a tenant and asserted that Merger Sub is responsible for shortfalls and rent while the space is unoccupied. The landlord filed a motion for summary judgment that the guarantee is enforceable as a matter of law. 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. In September 2014, the appellate court reversed the Court ruling and determined that the guarantee was enforceable, and ordered that a referee determine the amount of the landlord's damages. On February 27, 2015, the parties jointly entered into a Stipulation and Settlement Agreement that provides for the settlement and release of the guaranty litigation and certain claims arising from the Filenes/Syms bankruptcy. The settlement approximated the accrual. The guaranty remains in effect for the term until 2024. | |
During fiscal 2012, income from discontinued operations, net of tax, was due to reduction in the estimate of liability under lease guarantees for Filene's Basement. | |
Contractual Obligations- As of January 31, 2015, the Company 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. The Company’s obligations under these commitments were approximately $6.9 million as of January 31, 2015. In addition, the Company has entered into various noncancelable purchase and service agreements. These agreements expire over the next two years, and the obligations under these agreements were $2.6 million as of January 31, 2015. The Company has also signed lease agreements for 34 new store locations expected to be opened in fiscal 2015 and 2016 with total annual rent of approximately $9.6 million. In connection with the new lease agreements, the Company will receive a total of $13.6 million of construction and tenant allowance reimbursements for expenditures at these locations. |
Segment_Reporting
Segment Reporting | 12 Months Ended | |||||||||||||||
Jan. 31, 2015 | ||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||
SEGMENT REPORTING | SEGMENT REPORTING | |||||||||||||||
The reportable segments are the DSW segment, which includes DSW stores and dsw.com, and the Affiliated Business Group segment. The Company 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 January 31, 2015 and February 1, 2014 is recorded in the DSW segment. In order to reconcile to the consolidated financial statements, the Company includes Other, which consists of assets, liabilities and expenses of the former RVI (see Note 2) and the equity investment in Town Shoes (see Note 3). The settlement of the pension plan in fiscal 2013 was recorded in Other. | ||||||||||||||||
DSW | Affiliated Business Group | Other | DSW Inc. | |||||||||||||
(in thousands) | ||||||||||||||||
As of and for the fiscal year ended January 31, 2015 | ||||||||||||||||
Net sales | $ | 2,352,464 | $ | 143,628 | — | $ | 2,496,092 | |||||||||
Gross profit | 726,630 | 28,391 | — | 755,021 | ||||||||||||
Capital expenditures | 90,215 | 3,099 | — | 93,314 | ||||||||||||
Total assets | 1,263,577 | 104,897 | $ | 69,769 | 1,438,243 | |||||||||||
As of and for the fiscal year ended February 1, 2014 | ||||||||||||||||
Net sales | $ | 2,230,996 | $ | 137,672 | — | $ | 2,368,668 | |||||||||
Gross profit | 710,972 | 28,315 | — | 739,287 | ||||||||||||
Capital expenditures | 83,231 | 569 | — | 83,800 | ||||||||||||
Total assets | 1,340,629 | 80,221 | $ | 394 | 1,421,244 | |||||||||||
As of and for the fiscal year ended February 2, 2013 | ||||||||||||||||
Net sales | $ | 2,125,262 | $ | 132,516 | — | $ | 2,257,778 | |||||||||
Gross profit | 696,854 | 27,866 | — | 724,720 | ||||||||||||
Capital expenditures | 99,326 | 426 | — | 99,752 | ||||||||||||
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Jan. 31, 2015 | ||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||
Income Taxes | INCOME TAXES | |||||||||||
Income Tax Provision- The following table presents the composition of the provision for income taxes for continuing operations for the periods presented: | ||||||||||||
Fiscal | ||||||||||||
January 31, 2015 | February 1, 2014 | February 2, 2013 | ||||||||||
Current: | (in thousands) | |||||||||||
Federal | $ | 80,205 | $ | 36,407 | $ | 14,070 | ||||||
Foreign | 717 | 22 | — | |||||||||
State and local | 16,152 | 14,817 | 9,193 | |||||||||
Total current tax expense | 97,074 | 51,246 | 23,263 | |||||||||
Deferred: | ||||||||||||
Federal | (1,616 | ) | 42,557 | 70,158 | ||||||||
State and local | 255 | (1,098 | ) | 2,006 | ||||||||
Total deferred tax expense | (1,361 | ) | 41,459 | 72,164 | ||||||||
Income tax provision | $ | 95,713 | $ | 92,705 | $ | 95,427 | ||||||
Rate Reconciliation- The following table presents a reconciliation of the expected income taxes for continuing operations based upon the statutory federal income tax rate: | ||||||||||||
Fiscal | ||||||||||||
January 31, 2015 | February 1, 2014 | February 2, 2013 | ||||||||||
(in thousands) | ||||||||||||
Income tax expense at federal statutory rate | $ | 87,059 | $ | 85,402 | $ | 84,215 | ||||||
State and local taxes-net | 8,808 | 8,532 | 7,631 | |||||||||
Warrants | — | — | 2,142 | |||||||||
Other | (154 | ) | (1,229 | ) | 1,439 | |||||||
Income tax provision | $ | 95,713 | $ | 92,705 | $ | 95,427 | ||||||
Deferred Tax Assets and Liabilities- The following tables present the deferred tax assets and liabilities and the components of deferred tax assets and liabilities as of the periods presented: | ||||||||||||
January 31, 2015 | February 1, 2014 | |||||||||||
(in thousands) | ||||||||||||
Current deferred tax assets | $ | 19,747 | $ | 18,130 | ||||||||
Non-current deferred tax assets | 11,332 | 11,587 | ||||||||||
Total net deferred tax asset | $ | 31,079 | $ | 29,717 | ||||||||
January 31, 2015 | February 1, 2014 | |||||||||||
(in thousands) | ||||||||||||
Deferred tax assets: | ||||||||||||
State net operating loss and tax credits | $ | 701 | $ | 332 | ||||||||
Inventory | 7,562 | 5,826 | ||||||||||
Construction and tenant allowances | 6,074 | 7,441 | ||||||||||
Stock-based compensation | 9,624 | 7,457 | ||||||||||
Benefit from uncertain tax positions | 100 | 58 | ||||||||||
Guarantees | 1,185 | 1,347 | ||||||||||
Accrued expenses | 1,890 | 961 | ||||||||||
Accrued rewards | 5,918 | 7,756 | ||||||||||
Accrued rent | 15,395 | 14,790 | ||||||||||
Other | 14,317 | 13,068 | ||||||||||
Total deferred tax assets, gross of valuation allowance | 62,766 | 59,036 | ||||||||||
Less: valuation allowance | (1,246 | ) | (860 | ) | ||||||||
Total deferred tax assets, net of valuation allowance | 61,520 | 58,176 | ||||||||||
Deferred tax liabilities: | ||||||||||||
Property and equipment | (27,236 | ) | (24,214 | ) | ||||||||
Prepaid expenses | (1,113 | ) | (957 | ) | ||||||||
Other | (2,092 | ) | (3,288 | ) | ||||||||
Total deferred tax liabilities | (30,441 | ) | (28,459 | ) | ||||||||
Total – net deferred tax asset | $ | 31,079 | $ | 29,717 | ||||||||
The federal net operating loss and state net operating loss and tax credits were fully utilized in 2013. The Company establishes valuation allowances for deferred tax assets when the amount of expected future taxable income is not likely to support the use of the deduction or credit. The valuation allowance as of January 31, 2015 is related to a capital loss carryforward, state income tax credits and state income tax refunds. The valuation allowance as of February 1, 2014 was related to a capital loss carryforward and state income tax credits. | ||||||||||||
As of January 31, 2015, U.S. taxes have not been provided on unremitted earnings of subsidiaries operating outside of the United States. These earnings, which are considered to be invested indefinitely, would become subject to income tax if the Company elects to distribute these foreign earnings in the future. Determination of the amount of unrecognized deferred U.S. income tax liability on these unremitted earnings is not practicable because such liability, if any, is dependent on circumstances existing if and when remittance occurs. | ||||||||||||
Uncertain Tax Positions- As of January 31, 2015, February 1, 2014 and February 2, 2013, unrecognized tax benefits of $3.4 million, $1.8 million and $1.3 million, respectively, of the total unrecognized tax benefits would affect the effective tax rate if recognized. The following table presents the reconciliation of the beginning and ending amount of unrecognized tax benefits as of the periods presented: | ||||||||||||
January 31, 2015 | February 1, 2014 | February 2, 2013 | ||||||||||
(in thousands) | ||||||||||||
Beginning balance | $ | 1,838 | $ | 1,253 | $ | 2,315 | ||||||
Additions for tax positions taken in the current year | 1,621 | 1,184 | 400 | |||||||||
Reductions for tax positions taken in prior years: | ||||||||||||
Changes in judgment | — | (69 | ) | (345 | ) | |||||||
Lapses of applicable statutes of limitations | — | (530 | ) | (755 | ) | |||||||
Settlements during the year | (73 | ) | — | (362 | ) | |||||||
Ending balance | $ | 3,386 | $ | 1,838 | $ | 1,253 | ||||||
While it is expected that the amount of unrecognized tax benefits will change in the next 12 months, any changes are not expected to have a material impact on the Company's financial position, results of operations or cash flows. | ||||||||||||
As of January 31, 2015 and February 1, 2014, $0.5 million and $0.2 million, respectively, was accrued for the payment of interest and penalties. | ||||||||||||
DSW Inc. is no longer subject to U.S federal income tax examination and state income tax examinations for years prior to 2010. DSW Inc. estimates the range of possible changes that may result from any current and future tax examinations to be insignificant at this time. |
Quarterly_Financial_Data_Unaud
Quarterly Financial Data (Unaudited) | 12 Months Ended | |||||||||||||||
Jan. 31, 2015 | ||||||||||||||||
Quarterly Financial Data [Abstract] | ||||||||||||||||
Quarterly Financial Information [Text Block] | QUARTERLY FINANCIAL DATA (UNAUDITED) | |||||||||||||||
In the Company’s opinion, the unaudited quarterly financial information reflects all normal and recurring accruals and adjustments necessary for a fair presentation of net income for interim periods. Quarterly results are not necessarily indicative of a full year’s operations because of various factors. The following tables present unaudited quarterly financial information for the periods presented: | ||||||||||||||||
Thirteen weeks ended | ||||||||||||||||
May 3, 2014 | August 2, 2014 | November 1, 2014 | January 31, 2015 | |||||||||||||
(in thousands, except per share data) | ||||||||||||||||
Net sales | $ | 598,947 | $ | 587,096 | $ | 669,872 | $ | 640,177 | ||||||||
Cost of sales | (410,942 | ) | (415,192 | ) | (451,315 | ) | (463,622 | ) | ||||||||
Operating expenses | (126,754 | ) | (118,594 | ) | (138,860 | ) | (128,681 | ) | ||||||||
Operating profit | 61,251 | 53,310 | 79,697 | 47,874 | ||||||||||||
Interest income, net | 958 | 635 | 600 | 602 | ||||||||||||
Income from continuing operations before income taxes and income from Town Shoes | 62,209 | 53,945 | 80,297 | 48,476 | ||||||||||||
Income tax provision | (23,570 | ) | (20,824 | ) | (31,792 | ) | (19,527 | ) | ||||||||
Income from Town Shoes | — | 849 | 1,049 | 1,915 | ||||||||||||
Income from continuing operations | 38,639 | 33,970 | 49,554 | 30,864 | ||||||||||||
Income from discontinued operations, net of tax | — | 358 | — | (86 | ) | |||||||||||
Net income | $ | 38,639 | $ | 34,328 | $ | 49,554 | $ | 30,778 | ||||||||
Diluted earnings per share(1): | $ | 0.42 | $ | 0.38 | $ | 0.55 | $ | 0.34 | ||||||||
Thirteen weeks ended | ||||||||||||||||
4-May-13 | 3-Aug-13 | 2-Nov-13 | 1-Feb-14 | |||||||||||||
(in thousands, except per share data) | ||||||||||||||||
Net sales | $ | 601,362 | $ | 562,063 | $ | 632,976 | $ | 572,267 | ||||||||
Cost of sales | (418,365 | ) | (378,621 | ) | (420,106 | ) | (412,289 | ) | ||||||||
Operating expenses | (128,711 | ) | (129,461 | ) | (124,614 | ) | (115,113 | ) | ||||||||
Operating profit | 54,286 | 53,981 | 88,256 | 44,865 | ||||||||||||
Interest income, net | 340 | 481 | 1,036 | 762 | ||||||||||||
Income from continuing operations before income taxes | 54,626 | 54,462 | 89,292 | 45,627 | ||||||||||||
Income tax provision | (20,111 | ) | (20,742 | ) | (34,331 | ) | (17,521 | ) | ||||||||
Net income | $ | 34,515 | $ | 33,720 | $ | 54,961 | $ | 28,106 | ||||||||
Diluted earnings per share(1): | $ | 0.38 | $ | 0.37 | $ | 0.6 | $ | 0.3 | ||||||||
(1) The earnings per share calculations for each quarter are based upon the applicable weighted average shares outstanding for each period and may not necessarily be equal to the full year share amount. |
Subsequent_Event_Notes
Subsequent Event (Notes) | 12 Months Ended |
Jan. 31, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | SUBSEQUENT EVENTS |
Dividends- On February 17, 2015, DSW Inc.'s Board of Directors increased the Company's quarterly cash dividend from $0.1875 per share to $0.20 per share. The dividend will be paid on March 31, 2015 to shareholders of record at the close of business on March 20, 2015. | |
Union Square- See Note 16 for a subsequent event related to litigation related to Union Square. |
Basis_of_Presentation_Policies
Basis of Presentation (Policies) | 12 Months Ended |
Jan. 31, 2015 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | Principles of Consolidation- The consolidated financial statements include the accounts of DSW Inc. 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. |
Merger with Retail Ventures, Inc. (the "Merger")- On May 26, 2011, Retail Ventures, Inc. (“Retail Ventures” or “RVI”) merged with and into DSW MS LLC (“Merger Sub”), with Merger Sub surviving the Merger and continuing as a wholly owned subsidiary of DSW Inc. 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. | |
Fiscal Period, Policy [Policy Text Block] | Fiscal Year- DSW Inc.’s fiscal year ends on the Saturday nearest to January 31. The periods presented in these financial statements are the fiscal years ended January 31, 2015 ("fiscal 2014"), February 1, 2014 ("fiscal 2013") and February 2, 2013 ("fiscal 2012"). Fiscal 2014 and 2013 each consisted of 52 weeks, while fiscal 2012 consisted of 53 weeks. Unless otherwise stated, references to years in this report relate to fiscal years rather than calendar years. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates- The preparation of financial statements in conformity with accounting principles generally accepted in the United States ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Significant estimates are required as a part of inventory valuation, depreciation, amortization, customer loyalty program reserve, recoverability of long-lived assets and intangible assets, litigation reserves, exit and disposal obligations and establishing reserves for self-insurance. Although these estimates are based on management’s knowledge of current events and actions it may undertake in the future, actual results could differ from these estimates. |
Investment_in_Town_Shoes_Limit1
Investment in Town Shoes Limited Investment in Town Shoes Limited (Policies) | 12 Months Ended |
Jan. 31, 2015 | |
Investment in Town Shoes Limited [Abstract] | |
Equity Method Investments, Policy [Policy Text Block] | Equity Method Investment in Town Shoes- DSW Inc. 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 Inc. recognizes its share of Town Shoes' net income or loss. The difference between the purchase price and the Company'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 Inc.’s share of net income or loss of Town Shoes, DSW Inc.'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. The investment and note receivable 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) | 12 Months Ended | |
Jan. 31, 2015 | ||
Accounting Policies [Abstract] | ||
Revenue Recognition, Policy [Policy Text Block] | Sales and Revenue Recognition- Revenues from merchandise sales are recognized upon customer receipt of merchandise, are net of returns through period end, exclude sales tax and are not recognized until collectibility is reasonably assured. Merchandise can be demanded from a store, dsw.com or m.dsw.com. The demand can be fulfilled from a store, the dsw.com fulfillment center or drop shipped from a supplier's warehouse. If the product is shipped to a customer from a store, the dsw.com fulfillment center or a supplier's warehouse, DSW Inc. defers revenue for a period of time representing a lag for shipments to be received by the customer. | |
Shipping and Handling Cost | Revenue from shipping and handling is recorded in net sales while the related costs are included in cost of sales. | |
Gift Cards | Revenue from gift cards is deferred and recognized upon redemption of the gift card. The Company's policy is to recognize income from breakage of gift cards when the likelihood of redemption of the gift card is remote. | |
Revenue Recognition Accounting Policy, Gross and Net Revenue Disclosure [Policy Text Block] | As of January 31, 2015, ABG supplies footwear, under supply arrangements, to four other retailers. Sales for these affiliated businesses are net of returns through period end and exclude sales tax, and are included in net sales. | |
Cost of Sales | Cost of Sales- In addition to the cost of merchandise, which includes markdowns and shrinkage, the Company includes in cost of sales expenses associated with distribution and fulfillment (including depreciation) and store occupancy (excluding depreciation and including store impairments). Distribution and fulfillment expenses are comprised of labor costs, rent, depreciation, insurance, utilities, maintenance and other operating costs associated with the operations of the distribution and fulfillment centers. Distribution and fulfillment expenses also include the transportation of merchandise to the distribution and fulfillment centers, from the distribution center to stores and from the fulfillment center and from stores to the customer. Store occupancy expenses include rent, utilities, repairs, maintenance, insurance, janitorial costs and occupancy-related taxes, which are primarily real estate taxes passed to the Company by its landlords. | |
Operating Expenses | Operating Expenses- Operating expenses include expenses related to store management and store payroll costs, advertising, ABG operations, store depreciation and amortization, new store advertising and other new store costs (which are expensed as incurred) and corporate expenses. Corporate expenses include expenses related to buying, information technology, depreciation expense for corporate cost centers, marketing, legal, finance, outside professional services, customer service center expenses, payroll and benefits for associates and payroll taxes. | |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation- The Company recognizes compensation expense for stock option awards, time-based restricted stock awards and performance-based restricted stock awards on a straight-line basis over the requisite service period of the award for the awards that vest in accordance with Accounting Standard Codification ("ASC") 718, Compensation – Stock Compensation. For stock options, the fair value of options granted is estimated on the date of grant using the Black-Scholes pricing model. This model assumes that the estimated fair value of options is amortized over the options’ vesting periods. The compensation costs, net of estimated forfeitures, are included in operating expenses in the consolidated statements of operations. | |
The company grants performance-based restricted stock units and restricted stock units. Compensation cost is measured at fair value on the grant date and recorded over the vesting period, net of estimated forfeitures. Fair value is determined by multiplying the number of units granted by the grant date closing market price. | ||
Stock Appreciation Rights [Policy Text Block] | In fiscal 2014, the Company granted Stock Appreciation Rights ("SARs") to a non-employee. 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. Beginning in fiscal 2014, the Company 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. 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 the Company is receiving the services. After the vesting period is complete, the Company will continue to remeasure the SARs using the Black-Scholes model as the instruments become subject to ASC 815, Derivatives and Hedging. | |
Start-up Activities, Cost Policy [Policy Text Block] | New Store Costs- Costs associated with the opening of stores are expensed as incurred. | |
Advertising Cost, Policy, Expensed Advertising Cost [Policy Text Block] | Marketing Expense- The production cost of advertising is expensed when the advertising first takes place. All other marketing costs are expensed as incurred. | |
Other Operating Income [Policy Text Block] | Other Operating Income- Other operating income consists primarily of income from consignment sales, rental income, income from gift card breakage and insurance proceeds and is included in operating expenses in the statement of operations. | |
Income Taxes | Income Taxes- Income taxes are accounted for using the asset and liability method. The Company is required to determine the aggregate amount of income tax expense to accrue and the amount which will be currently payable based upon tax statutes of each jurisdiction in which the Company does business. In making these estimates, income is adjusted based on a determination of GAAP for items that are treated differently by the applicable taxing authorities. Deferred tax assets and liabilities, as a result of these differences, are reflected on the balance sheet for temporary differences that will reverse in subsequent years. A valuation allowance is established against deferred tax assets when it is more likely than not that some or all of the deferred tax assets will not be realized. U.S. deferred income taxes are not provided on undistributed income of foreign subsidiaries where such earnings are considered to be permanently reinvested for the foreseeable future. | |
Consistent with its historical financial reporting, the Company has elected to classify interest expense related to income tax liabilities, when applicable, as part of interest expense in its consolidated statements of operations rather than as part of income tax expense. The Company classifies income tax penalties as part of operating expenses in its consolidated statements of operations. | ||
Discontinued Operations, Policy [Policy Text Block] | Discontinued Operations- As a result of RVI’s disposition of Filene’s Basement during fiscal 2009, any changes to the gain on disposal of Filene’s Basement operations are included in discontinued operations. Any changes in the carrying value of assets with residual interest in the discontinued business are classified within continuing operations. See Note 16 for a discussion of discontinued operations. | |
Earnings Per Share | 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 stock options, restricted stock units and performance-based restricted stock units. In previous periods, there was also potential dilution of common shares from warrants. | |
Cash and Cash Equivalents | Cash and Equivalents- Cash and equivalents represent cash, money market funds and credit card receivables that generally settle within three days. Amounts due from banks for credit card transactions totaled $16.1 million and $13.2 million as of January 31, 2015 and February 1, 2014, respectively. The carrying amounts of cash and equivalents approximate fair value. The Company also reviews cash balances on a bank by bank basis to identify book overdrafts. Book overdrafts occur when the amount of outstanding checks exceed the cash deposited at a bank. The Company reclassifies book overdrafts, if any, to accounts payable. | |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Restricted Cash- Restricted cash represents cash that is restricted as to withdrawal or usage. The carrying amount of restricted cash approximates fair value. The restricted cash balance is recorded in prepaid expenses and other current assets on the consolidated balance sheets and primarily consists of a mandatory cash deposit with the lender for outstanding letters of credit, as detailed in Note 10. | |
Investment, Policy [Policy Text Block] | Investments- The Company determines the balance sheet classification of its investments at the time of purchase and evaluates the classification at each balance sheet date. If the Company has the intent and ability to hold the investments to maturity, investments are classified as held-to-maturity. Held-to-maturity securities are stated at amortized cost plus accrued interest. Otherwise, investments are classified as available-for-sale. All income generated from these investments is recorded as interest income. The company evaluates its investments for impairment and whether impairment is other-than-temporary at each balance sheet date. | |
Trade and Other Accounts Receivable, Policy [Policy Text Block] | Accounts and Notes Receivable- Accounts receivable are classified as current assets because the average collection period is generally shorter than one year. Accounts receivable are primarily construction and tenant allowance receivables from landlords and receivables from DSW Inc.'s affiliated business partners. The carrying amount approximates fair value because of the relatively short average collection period. The shareholder note receivable for Town Shoes is valued based on similar assets in active markets. The note receivable is classified as long-term as it is due in 2022. | |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk- Financial instruments, which principally subject the Company to concentration of credit risk, consist of cash and equivalents and investments. The Company invests excess cash when available through financial institutions in money market accounts and short-term and long-term investments. At times, such amounts invested through banks may be in excess of FDIC insurance limits, and the Company mitigates the risk by utilizing multiple banks. | |
Concentration Risk, Vendor Risk, Policy [Policy Text Block] | Concentration of Vendor Risk- During fiscal 2014, 2013 and 2012, merchandise supplied by three key vendors accounted for approximately 18%, 19% and 18% of net sales, respectively. | |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value- 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, the Company 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. | ||
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | Allowance for Doubtful Accounts- The Company monitors its exposure for credit losses and records related allowances for doubtful accounts. Allowances are estimated based upon specific accounts receivable balances, where a risk of default has been identified. | |
Inventories | Inventories- Merchandise inventories are stated at lower of cost or market, determined using the retail inventory method. The retail inventory method is used in the retail industry due to its practicality. Under the retail inventory method, the valuation of inventories at cost and the resulting gross profits are determined by applying a calculated cost to retail ratio to the retail value of inventories. The cost of the inventory reflected on the balance sheet is decreased by charges to cost of sales at the time the retail value of the inventory is lowered through the use of markdowns, which are reductions in prices due to customers’ perception of value. Hence, earnings are negatively impacted as the merchandise is marked down prior to sale. Markdowns establish a new cost basis for inventory. Changes in facts or circumstances do not result in the reversal of previously recorded markdowns or an increase in the newly established cost basis. Markdowns require management to make assumptions regarding customer preferences, fashion trends and consumer demand. | |
Inherent in the calculation of inventories are certain significant management judgments and estimates, including setting the original merchandise retail value, markdowns, and estimates of losses between physical inventory counts, or shrinkage, which combined with the averaging process within the retail inventory method, can significantly impact the ending inventory valuation at cost and the resulting gross profit. The Company records a reduction to inventories and a charge to cost of sales for shrinkage. Shrinkage is calculated as a percentage of sales from the last physical inventory date. Estimates are based on both historical experience as well as recent physical inventory results. Stores physical inventory counts are taken on an annual basis and have supported shrinkage estimates. | ||
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment- Property and equipment are stated at cost less accumulated depreciation determined by the straight-line method over the expected useful life of assets. The straight-line method is used to amortize such capitalized costs over the lesser of the expected useful life of the asset or the life of the lease. The estimated useful lives by class of asset are: | |
Buildings | 39 years | |
Furniture, fixtures and equipment | 3 to 10 years | |
Building and leasehold improvements | 3 to 20 years or the lease term if that is shorter than the normal life of the asset | |
Impairment or Disposal of Long-Lived Assets | Asset Impairment and Long-Lived Assets- The Company 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. The carrying amount of a long-lived asset or asset group is considered impaired when the carrying value of the asset or asset group exceeds the expected future cash flows from the asset or asset group. The reviews are conducted at the lowest identifiable level, which has been identified as a store. The impairment loss recognized is the excess of the carrying value of the asset or asset group over its fair value, based on a discounted cash flow analysis using a discount rate determined by management. Should an impairment loss be realized, it will generally be included in cost of sales. The Company expensed $5.1 million and $0.8 million in fiscal 2014 and 2013, respectively, for assets where the recorded value could not be supported by projected future cash flows. The impairment charges in fiscal 2014 and fiscal 2013 were recorded in the DSW segment. There were no impairment charges in fiscal 2012. | |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill- Goodwill represents the excess cost over the estimated fair values of net assets including identifiable intangible assets of businesses acquired. Goodwill is tested for impairment at least annually. Management evaluates fair value using market-based analysis to review market capitalization as well as reviewing a discounted cash flow analysis using management’s assumptions. Several factors could result in an impairment charge, such as failure to achieve sufficient levels of cash flow or a significant and sustained decline in stock price. Significant judgment is necessary to determine the underlying cause of the decline and whether stock price declines are related to the market or specifically to DSW Inc. The Company has never recorded a goodwill impairment. As of January 31, 2015 and February 1, 2014, the balance of goodwill related to DSW was $25.9 million. | |
Liability Reserve Estimate, Policy [Policy Text Block] | Self-insurance Reserves- The Company records estimates for certain health and welfare, workers' compensation and casualty insurance costs that are self-insured programs. Self-insurance reserves include actuarial estimates of both claims filed, carried at their expected ultimate settlement value, and claims incurred but not yet reported. The liability represents an estimate of the ultimate cost of claims incurred as of the balance sheet date. Estimates for health and welfare, workers’ compensation and general liability are calculated utilizing claims development estimates based on historical experience and other factors. The Company has purchased stop loss insurance to limit its exposure on a per person basis for health and welfare and on a per claim basis for workers' compensation and general liability, as well as on an aggregate annual basis. | |
Customer Loyalty Program | Customer Loyalty Program- The Company maintains a customer loyalty program for DSW in which program members earn reward certificates that result in discounts on future purchases. Upon reaching the target-earned threshold, the members receive reward certificates for these discounts which expire three months after being issued. The Company accrues the anticipated redemptions of the discount earned at the time of the initial purchase. To estimate these costs, the Company makes assumptions related to customer purchase levels and redemption rates based on historical experience. | |
Commitments and Contingencies | Legal Proceedings and Claims- The Company is involved in various legal proceedings that are incidental to the conduct of its business. The Company estimates the range of liability related to pending litigation where the amount of the range of loss can be estimated. The Company records its best estimate of a loss when the loss is considered probable, including an estimate of legal fees to be incurred. When a liability is probable and there is a range of estimated loss, the Company records an estimate of the amount of the liability related to the claim. | |
Deferred Rent | Deferred Rent- Many of the Company’s operating leases contain predetermined fixed increases of the minimum rentals during the initial lease terms. For these leases, the Company recognizes the related rental expense on a straight-line basis over the noncancelable terms of the lease. The Company records the difference between the amounts charged to expense and the rent paid as deferred rent and begins amortizing such deferred rent upon the delivery of the lease location by the lessor. Deferred rent is included in non-current liabilities. | |
Construction and Tenant Allowances | Construction and Tenant Allowances- The Company receives cash allowances from landlords, which are deferred and amortized on a straight-line basis over the noncancelable terms of the lease as a reduction of rent expense. Construction and tenant allowances are included in non-current liabilities. | |
Costs Associated with Exit or Disposal Activities or Restructurings, Policy [Policy Text Block] | Exit and Disposal Obligations- The Company records a reserve when a store or office facility is abandoned due to closure or relocation. Using its credit-adjusted risk-free rate to present value the liability, the Company estimates future lease obligations based on remaining lease payments, estimated or actual sublease payments and any other relevant factors. On a quarterly basis, the Company reassesses the reserve based on current market conditions. See Note 16 for a discussion of exit and disposal obligations. | |
Comprehensive Income, Policy [Policy Text Block] | Accumulated Other Comprehensive Loss- Accumulated other comprehensive loss is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. Fiscal 2014 included foreign currency translation adjustments | |
Revenue Recognition, Deferred Revenue [Policy Text Block] | Co-Branded Credit Card- On April 30, 2014, the Company began to offer co-branded credit cards under a seven year agreement with an issuing bank, which allows members to earn points through purchases at DSW 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. The Company received an upfront signing bonus from the issuing bank, which is recognized on a straight-line basis over the life of the relationship. The Company 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, costs associated with rewards points and certificates are accrued as the points are earned by the cardholder and are 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 method investment in Town Shoes, the Company purchased $75 million CAD, which equated to approximately $69 million USD at the transaction date. As the Company's functional currency is USD, the purchase of CAD resulted in a foreign currency exchange gain of $0.6 million at the purchase date of Town Shoes. Gains or losses resulting from foreign currency transactions are included in operating expenses in the consolidated statement of operations, whereas translation adjustments are reported as an element of other 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, the Company is required to remeasure these balances into USD balances. Each quarter, the income or loss from Town Shoes is remeasured into USD at the average exchange rate for the period. The note receivable from Town Shoes is remeasured in USD at the exchange rate prevailing at the balance sheet date. As the Company has designated the note receivable from Town Shoes as an investment of a long-term investment nature, the Company records the translation gains and losses arising from changes in exchange rates in comprehensive income. | ||
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements | |
In April 2014, the Financial Accounting Standards Board ("FASB") issued standard No. 2014-08, which amends the requirement for reporting discontinued operations in ASC Subtopic 205-20 Discontinued Operations. The amendments in this Update improve the definition of discontinued operations by limiting discontinued operations reporting to disposals of components of an entity that represent strategic shifts that have (or will have) a major effect on an entity's operations and financial results. Under current U.S. GAAP, many disposals, some of which may be routine in nature and not a change in an entity's strategy, are reported in discontinued operations.The amendments in this Update require expanded disclosures for discontinued operations. Those disclosures should provide users of financial statements with more information about the assets, liabilities, revenues, and expenses of discontinued operations. The Company does not expect that its financial statements or disclosures will be impacted. | ||
In May 2014, the FASB and the International Accounting Standards Board released standard No. 2014-09 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. The Company is currently in process of evaluating the impact of the new standard on its financial statements and disclosures. | ||
In June 2014, the FASB issued standard No. 2014-12, which provided 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 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. The Company will not be affected by this guidance as the Company currently accounts for these awards in a manner consistent with the new guidance. |
Segment_Reporting_Policies
Segment Reporting (Policies) | 12 Months Ended |
Jan. 31, 2015 | |
Segment Reporting [Abstract] | |
Segment Reporting | The reportable segments are the DSW segment, which includes DSW stores and dsw.com, and the Affiliated Business Group segment. The Company 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. |
Business_Operations_Tables
Business Operations (Tables) | 12 Months Ended | ||||||
Jan. 31, 2015 | |||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||
Percentage of sales attributable to each merchandise category [Table Text Block] | The following table sets forth the approximate percentage of DSW segment sales attributable to each merchandise category for the periods presented: | ||||||
Fiscal | |||||||
Category | 2014 | 2013 | 2012 | ||||
Women's footwear | 61% | 62% | 65% | ||||
Men's footwear | 18% | 17% | 16% | ||||
Athletic footwear | 12% | 12% | 12% | ||||
Accessories and Other | 9% | 9% | 7% |
Investment_in_Town_Shoes_Limit2
Investment in Town Shoes Limited (Tables) | 12 Months Ended | ||||
Jan. 31, 2015 | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Equity Method Investments [Table Text Block] | Presented below is activity related to our portion of Town Shoes included in our consolidated balance sheets, consolidated statements of operations and consolidated statements of comprehensive income as of and for the year ended January 31, 2015. | ||||
Fiscal | |||||
2014 | |||||
(in thousands) | |||||
Balance at beginning of period | $ | — | |||
Initial investment | 22,339 | ||||
Acquisition costs | 2,897 | ||||
DSW Inc.'s portion of Town Shoes net income | 178 | ||||
Foreign currency translation adjustments included in "Other comprehensive income" | 729 | ||||
Amortization of purchase price adjustments | (256 | ) | |||
Balance at end of period | $ | 25,887 | |||
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | |||||
Fiscal | |||||
2014 | |||||
(in thousands) | |||||
Balance at beginning of period | $ | — | |||
Purchase of note receivable | 46,596 | ||||
Payment-in-kind interest | 3,891 | ||||
Foreign currency translation adjustments included in "Other comprehensive income" | (7,183 | ) | |||
Balance at end of period | $ | 43,304 | |||
Significant_Accounting_Policie2
Significant Accounting Policies (Tables) | 12 Months Ended | |
Jan. 31, 2015 | ||
Accounting Policies [Abstract] | ||
Estimated Useful Lives PPE [Table Text Block] | The estimated useful lives by class of asset are: | |
Buildings | 39 years | |
Furniture, fixtures and equipment | 3 to 10 years | |
Building and leasehold improvements | 3 to 20 years or the lease term if that is shorter than the normal life of the asset |
Related_Party_Transactions_Tab
Related Party Transactions (Tables) | 12 Months Ended | ||||||
Jan. 31, 2015 | |||||||
Related Party Transaction [Line Items] | |||||||
Schedule of Related Party Transactions [Table Text Block] | The following table highlights the key financial statement line items impacted by the transaction: | ||||||
Impact on Consolidated Financial Statements | Fiscal 2012 | Financial Statement Section/Line item | |||||
Impact on the Consolidated Statement of Cash Flows: | (in thousands) | ||||||
Historical cost carrying amount | $ | (32,443 | ) | Net cash and equivalents used in investing activities from continuing operations | |||
Equity impact of Corporate Headquarters and Distribution Center Acquisition | (39,557 | ) | Net cash and equivalents used in financing activities from continuing operations | ||||
Total cash transferred to the sellers | $ | (72,000 | ) | ||||
Impact on the Consolidated Balance Sheet: | |||||||
Historical cost carrying amount | $ | 32,443 | |||||
Less: Tenant allowances and deferred rent | (8,310 | ) | |||||
Total net book value of assets recorded | $ | 24,133 | Property and equipment, net | ||||
Impact on the Consolidated Statement of Shareholders' Equity: | |||||||
Equity impact of Corporate Headquarters and Distribution Center Acquisition | $ | (39,557 | ) | ||||
Tax impact of Corporate Headquarters and Distribution Center Acquisition | 17,877 | ||||||
Adjustment to the tax impact of basis difference of Corporate Headquarters and Distribution Center Acquisition | (3,313 | ) | |||||
Basis difference related to acquisition of commonly controlled entity | $ | (24,993 | ) | Acquisition of commonly controlled entity |
Earnings_per_Share_and_Shareho1
Earnings per Share and Shareholders' Equity (Tables) | 12 Months Ended | ||||||||
Jan. 31, 2015 | |||||||||
Earnings Per Share [Abstract] | |||||||||
Schedule of Earnings Per Share Reconciliation [Table Text Block] | The following is a reconciliation of the number of shares used in the calculation of diluted earnings per share computations for the periods presented: | ||||||||
Fiscal | |||||||||
2014 | 2013 | 2012 | |||||||
(in thousands) | |||||||||
Weighted average shares outstanding | 89,499 | 90,472 | 88,846 | ||||||
Assumed exercise of dilutive stock options | 910 | 1,202 | 1,504 | ||||||
Assumed exercise of dilutive RSUs and PSUs | 203 | 227 | 256 | ||||||
Number of shares for computation of diluted earnings per share | 90,612 | 91,901 | 90,606 | ||||||
Stockbased_Compensation_Tables
Stock-based Compensation (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Jan. 31, 2015 | |||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||
Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights Award Activity [Table Text Block] | The fair value of the SARs was estimated using the Black-Scholes pricing model with the following assumptions for the period presented: | ||||||||||||||||||||||||||||||||
Assumptions: | As of January 31, 2015 | ||||||||||||||||||||||||||||||||
Risk-free interest rate | 0.60% | ||||||||||||||||||||||||||||||||
Expected volatility of DSW Common Shares | 24.90% | ||||||||||||||||||||||||||||||||
Expected term | 2.3 years | ||||||||||||||||||||||||||||||||
Expected dividend yield | 2.30% | ||||||||||||||||||||||||||||||||
Stock Option Plan Activity | the following tables summarize stock option activity, related per share weighted average exercise prices (“WAEP”), weighted average remaining contract life and aggregate intrinsic value (shares and intrinsic value in thousands): | ||||||||||||||||||||||||||||||||
Fiscal | |||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Shares | WAEP | Shares | WAEP | Shares | WAEP | ||||||||||||||||||||||||||||
Outstanding beginning of year | 3,347 | $ | 17.62 | 3,694 | $ | 14.5 | 5,016 | $ | 11.22 | ||||||||||||||||||||||||
Granted | 502 | $ | 34.49 | 492 | $ | 31.75 | 674 | $ | 27.47 | ||||||||||||||||||||||||
Increase in options from dividend adjustment | — | — | — | — | 128 | — | |||||||||||||||||||||||||||
Exercised | (505 | ) | $ | 10.22 | (748 | ) | $ | 10.99 | (2,004 | ) | $ | 9.62 | |||||||||||||||||||||
Forfeited | (188 | ) | $ | 27.32 | (91 | ) | $ | 21.79 | (120 | ) | $ | 15.82 | |||||||||||||||||||||
Outstanding end of year | 3,156 | $ | 20.91 | 3,347 | $ | 17.62 | 3,694 | $ | 14.5 | ||||||||||||||||||||||||
Options exercisable end of year | 1,682 | $ | 15.16 | 1,430 | $ | 13.08 | 1,260 | $ | 12.76 | ||||||||||||||||||||||||
Weighted-average Assumptions Used for Options Granted | The following table illustrates the weighted-average assumptions used in the Black-Scholes pricing model for options granted in each of the periods presented: | ||||||||||||||||||||||||||||||||
Fiscal | |||||||||||||||||||||||||||||||||
Assumptions: | 2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Risk-free interest rate | 1.80% | 0.70% | 1.20% | ||||||||||||||||||||||||||||||
Annual volatility of DSW Common Shares | 44.50% | 53.40% | 56.20% | ||||||||||||||||||||||||||||||
Expected option term | 5.4 years | 4.7 years | 5.5 years | ||||||||||||||||||||||||||||||
Dividend yield | 2.30% | 1.30% | 1.20% | ||||||||||||||||||||||||||||||
Other Data: | |||||||||||||||||||||||||||||||||
Weighted average grant date fair value | $11.82 | $12.85 | $12.59 | ||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable [Table Text Block] | |||||||||||||||||||||||||||||||||
As of January 31, 2015: | Shares | WAEP | Weighted Average Remaining Contract Life | Aggregate Intrinsic Value | |||||||||||||||||||||||||||||
Options exercisable | 1,682 | $ | 15.16 | 4.3 years | $ | 34,316 | |||||||||||||||||||||||||||
Options expected to vest | 1,285 | $ | 27.65 | 7.7 years | 10,177 | ||||||||||||||||||||||||||||
Options vested and expected to vest | 2,967 | $ | 20.57 | 5.8 years | $ | 44,493 | |||||||||||||||||||||||||||
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | |||||||||||||||||||||||||||||||||
Year of Grant | Range of Exercise Prices | Weighted Average Remaining Contract Life | Options Outstanding | Options Exercisable | |||||||||||||||||||||||||||||
Min | Max | Options Outstanding | WAEP | Aggregate Intrinsic Value | Options Exercisable | WAEP | Aggregate Intrinsic Value | ||||||||||||||||||||||||||
2005 - expire 2015 | $ | 8.84 | $ | 8.84 | 0.4 years | 109 | $ | 8.84 | $ | 2,908 | 109 | $ | 8.84 | $ | 2,908 | ||||||||||||||||||
2006 - expire 2016 | $ | 12.93 | $ | 14.5 | 1.6 years | 93 | $ | 12.99 | 2,110 | 93 | $ | 12.99 | 2,110 | ||||||||||||||||||||
2007 - expire 2017 | $ | 10.42 | $ | 19.94 | 2.2 years | 301 | $ | 19.83 | 4,735 | 301 | $ | 19.83 | 4,735 | ||||||||||||||||||||
2008 - expire 2018 | $ | 6.01 | $ | 9.15 | 3.2 years | 170 | $ | 6.19 | 5,006 | 170 | $ | 6.19 | 5,006 | ||||||||||||||||||||
2009 - expire 2019 | $ | 4.65 | $ | 7 | 4.2 years | 176 | $ | 4.76 | 5,415 | 176 | $ | 4.76 | 5,415 | ||||||||||||||||||||
2010 - expire 2020 | $ | 12.34 | $ | 12.38 | 5.1 years | 503 | $ | 12.37 | 11,659 | 352 | $ | 12.37 | 8,170 | ||||||||||||||||||||
2011 - expire 2021 | $ | 17.43 | $ | 22.71 | 6.1 years | 428 | $ | 17.49 | 7,737 | 221 | $ | 17.48 | 3,996 | ||||||||||||||||||||
2012 - expire 2022 | $ | 26.66 | $ | 27.18 | 7.2 years | 519 | $ | 26.67 | 4,611 | 194 | $ | 26.67 | 1,721 | ||||||||||||||||||||
2013 - expire 2023 | $ | 31.68 | $ | 31.68 | 8.1 years | 392 | $ | 31.68 | 1,520 | 66 | $ | 31.68 | 255 | ||||||||||||||||||||
2014 - expire 2024 | $ | 25.24 | $ | 37.88 | 9.3 years | 465 | $ | 34.4 | 539 | 0 | $ | — | — | ||||||||||||||||||||
Total | $ | 4.65 | $ | 37.88 | 5.9 years | 3,156 | $ | 20.91 | $ | 46,240 | 1,682 | $ | 15.16 | $ | 34,316 | ||||||||||||||||||
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Restricted Stock Units, Vested and Expected to Vest [Table Text Block] | |||||||||||||||||||||||||||||||||
Weighted Average | Aggregate | ||||||||||||||||||||||||||||||||
Remaining | Intrinsic | ||||||||||||||||||||||||||||||||
As of January 31, 2015: | Units | GDFV | Contract Life | Value | |||||||||||||||||||||||||||||
RSUs expected to vest | 255 | $ | 29.4 | 1.3 years | $ | 9,066 | |||||||||||||||||||||||||||
Restricted Stock Unit Activity | the following tables summarize RSU activity, weighted average grant date fair value (“GDFV”) and aggregate intrinsic value (units and intrinsic value in thousands): | ||||||||||||||||||||||||||||||||
Fiscal | |||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Units | GDFV | Units | GDFV | Units | GDFV | ||||||||||||||||||||||||||||
Outstanding beginning of year | 377 | $ | 23.41 | 436 | $ | 15.39 | 546 | $ | 9.33 | ||||||||||||||||||||||||
Granted | 103 | $ | 34.53 | 92 | $ | 35.5 | 114 | $ | 27.48 | ||||||||||||||||||||||||
Vested | (114 | ) | $ | 14.11 | (136 | ) | $ | 5.51 | (208 | ) | $ | 5.86 | |||||||||||||||||||||
Forfeited | (46 | ) | $ | 29.55 | (15 | ) | $ | 29.46 | (16 | ) | $ | 16.82 | |||||||||||||||||||||
Outstanding end of year | 320 | $ | 29.21 | 377 | $ | 23.41 | 436 | $ | 15.39 | ||||||||||||||||||||||||
Schedule of Share-based Compensation Arrangements by Share-based Payment Award, Performance-Based Restricted Stock Units, Vested and Expected to Vest [Table Text Block] | |||||||||||||||||||||||||||||||||
Weighted Average | Aggregate | ||||||||||||||||||||||||||||||||
Remaining | Intrinsic | ||||||||||||||||||||||||||||||||
As of January 31, 2015: | Units | GDFV | Contract Life | Value | |||||||||||||||||||||||||||||
PSUs expected to vest | 142 | $ | 33.5 | 1.9 years | $ | 5,052 | |||||||||||||||||||||||||||
Performance Based Restricted Stock Units Activity [Table Text Block] | the following tables summarize PSU activity, GDFV and aggregate intrinsic value (units and intrinsic value in thousands): | ||||||||||||||||||||||||||||||||
Fiscal | |||||||||||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||||||||||
Units | GDFV | Units | GDFV | ||||||||||||||||||||||||||||||
Outstanding beginning of year | 69 | $ | 31.76 | — | $ | — | |||||||||||||||||||||||||||
Granted | 111 | $ | 34.52 | 69 | $ | 31.76 | |||||||||||||||||||||||||||
Vested | — | — | — | $ | — | ||||||||||||||||||||||||||||
Forfeited | (7 | ) | $ | 32.74 | — | $ | — | ||||||||||||||||||||||||||
Outstanding end of year | 173 | $ | 33.5 | 69 | $ | 31.76 | |||||||||||||||||||||||||||
Director Stock Unit Activity | The following table summarizes director stock unit activity (units in thousands): | ||||||||||||||||||||||||||||||||
Fiscal | |||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
Outstanding beginning of year | 330 | 316 | 384 | ||||||||||||||||||||||||||||||
Granted | 52 | 34 | 54 | ||||||||||||||||||||||||||||||
Exercised | (22 | ) | (20 | ) | (122 | ) | |||||||||||||||||||||||||||
Outstanding end of year | 360 | 330 | 316 | ||||||||||||||||||||||||||||||
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block] | The following table summarizes stock-based compensation expense for the periods presented: | ||||||||||||||||||||||||||||||||
Fiscal | |||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
Stock Options | $ | 5,827 | $ | 5,891 | $ | 5,459 | |||||||||||||||||||||||||||
Restricted Stock Units | 2,097 | 1,797 | 1,511 | ||||||||||||||||||||||||||||||
Performance-Based Restricted Stock Units | 1,324 | 503 | — | ||||||||||||||||||||||||||||||
Director Stock Units | 1,247 | 1,151 | 1,110 | ||||||||||||||||||||||||||||||
Total | $ | 10,495 | $ | 9,342 | $ | 8,080 | |||||||||||||||||||||||||||
Investments_Tables
Investments (Tables) | 12 Months Ended | |||||||||||||||
Jan. 31, 2015 | ||||||||||||||||
Investments [Abstract] | ||||||||||||||||
Investments | The following table discloses the major categories of the Company’s investments as of the periods presented: | |||||||||||||||
Short-term investments | Long-term investments | |||||||||||||||
January 31, 2015 | February 1, 2014 | January 31, 2015 | February 1, 2014 | |||||||||||||
(in thousands) | ||||||||||||||||
Available-for-sale: | ||||||||||||||||
Bonds | $ | 17,147 | $ | 22,050 | — | — | ||||||||||
Held-to-maturity: | ||||||||||||||||
Term notes and bonds | $ | 154,054 | 202,048 | $ | 216,756 | $ | 243,188 | |||||||||
Total investments | $ | 171,201 | $ | 224,098 | $ | 216,756 | $ | 243,188 | ||||||||
Gross holding gains | $ | 117 | $ | 151 | $ | 371 | $ | 561 | ||||||||
Gross holding losses | $ | 50 | $ | 82 | $ | 317 | $ | 376 | ||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||||||||||
Jan. 31, 2015 | ||||||||||||||||||||||||
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: | |||||||||||||||||||||||
31-Jan-15 | 1-Feb-14 | |||||||||||||||||||||||
Total | Level 1 | Level 2 | Total | Level 1 | Level 2 | |||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Financial Assets: | ||||||||||||||||||||||||
Cash and equivalents | $ | 59,171 | $ | 59,171 | — | $ | 112,021 | $ | 112,021 | — | ||||||||||||||
Short-term investments(a) | 171,268 | — | $ | 171,268 | 224,167 | — | $ | 224,167 | ||||||||||||||||
Long-term investments(a) | 216,810 | — | 216,810 | 243,373 | — | 243,373 | ||||||||||||||||||
Note receivable from Town Shoes (b) | 43,304 | — | 43,304 | — | — | — | ||||||||||||||||||
Total Financial Assets | $ | 490,553 | $ | 59,171 | $ | 431,382 | $ | 579,561 | $ | 112,021 | $ | 467,540 | ||||||||||||
Activity Related to the Fair Value of Assets Held | The following table presents the activity related to the fair value of assets held and used that realized an impairment loss for the periods presented: | |||||||||||||||||||||||
Total Losses | ||||||||||||||||||||||||
As of January 31, 2015 | Fiscal | |||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Fair Value as of the Impairment Date | 2014 | 2013 | |||||||||||||||||||
(in thousands) | (in thousands) | |||||||||||||||||||||||
Assets held and used | — | — | — | — | $ | 5,095 | $ | 809 | ||||||||||||||||
Property_and_Equipment_Net_Tab
Property and Equipment, Net (Tables) | 12 Months Ended | ||||||||
Jan. 31, 2015 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Property and Equipment, Net | The balance sheet caption "Property and equipment, net" was comprised of the following as of the periods presented: | ||||||||
January 31, 2015 | February 1, 2014 | ||||||||
(in thousands) | |||||||||
Property and equipment: | |||||||||
Land | $ | 1,110 | $ | 1,110 | |||||
Furniture, fixtures and equipment | 437,745 | 387,913 | |||||||
Buildings, building and leasehold improvements | 353,283 | 325,340 | |||||||
Total property and equipment | 792,138 | 714,363 | |||||||
Accumulated depreciation and amortization | (454,235 | ) | (395,743 | ) | |||||
Property and equipment, net | $ | 337,903 | $ | 318,620 | |||||
Accrued_Expenses_Tables
Accrued Expenses (Tables) | 12 Months Ended | ||||||||
Jan. 31, 2015 | |||||||||
Payables and Accruals [Abstract] | |||||||||
Accrued Expenses | The balance sheet caption "Accrued expenses" was comprised of the following as of the periods presented: | ||||||||
January 31, 2015 | February 1, 2014 | ||||||||
(in thousands) | |||||||||
Gift cards and merchandise credits | $ | 40,313 | $ | 37,651 | |||||
Compensation | 11,317 | 18,043 | |||||||
Taxes | 16,798 | 13,581 | |||||||
Customer loyalty program | 14,788 | 19,547 | |||||||
Other(1) | 29,964 | 26,875 | |||||||
Total accrued expenses | $ | 113,180 | $ | 115,697 | |||||
NonCurrent_LiabilitiesTables
Non-Current Liabilities(Tables) | 12 Months Ended | ||||||||
Jan. 31, 2015 | |||||||||
Other Liabilities Disclosure [Abstract] | |||||||||
Other Non-current Liabilities | The balance sheet caption "Non-current liabilities" was comprised of the following as of the periods presented: | ||||||||
January 31, 2015 | February 1, 2014 | ||||||||
(in thousands) | |||||||||
Construction and tenant allowances | $ | 85,244 | $ | 84,464 | |||||
Deferred rent | 38,021 | 37,985 | |||||||
Other(1) | 20,068 | 15,849 | |||||||
Total non-current liabilities | $ | 143,333 | $ | 138,298 | |||||
Leases_Tables
Leases (Tables) | 12 Months Ended | |||||||||||
Jan. 31, 2015 | ||||||||||||
Leases [Abstract] | ||||||||||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | The following table presents future minimum lease payments required under the aforementioned leases, excluding real estate taxes, insurance and maintenance costs, as of January 31, 2015: | |||||||||||
Total | Unrelated | Related | ||||||||||
Party | Party | |||||||||||
Fiscal years | (in thousands) | |||||||||||
2015 | $ | 183,635 | $ | 174,196 | $ | 9,439 | ||||||
2016 | 172,263 | 163,308 | 8,955 | |||||||||
2017 | 151,361 | 143,153 | 8,208 | |||||||||
2018 | 130,171 | 125,780 | 4,391 | |||||||||
2019 | 112,854 | 109,039 | 3,815 | |||||||||
Future years | 378,699 | 371,577 | 7,122 | |||||||||
Total minimum lease payments (1) | $ | 1,128,983 | $ | 1,087,053 | $ | 41,930 | ||||||
Schedule of Rent Expense [Table Text Block] | The following table presents the composition of rental expense for the periods presented: | |||||||||||
Fiscal | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(in thousands) | ||||||||||||
Minimum rentals: | ||||||||||||
Unrelated parties | $ | 147,771 | $ | 137,602 | $ | 127,061 | ||||||
Related parties | 9,189 | 10,486 | 12,855 | |||||||||
Contingent rentals: | ||||||||||||
Unrelated parties | 31,499 | 29,639 | 26,502 | |||||||||
Total | $ | 188,459 | $ | 177,727 | $ | 166,418 | ||||||
Benefit_Plans_Tables
Benefit Plans (Tables) | 12 Months Ended | ||||||||||
Feb. 01, 2014 | |||||||||||
Compensation and Retirement Disclosure [Abstract] | |||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | The following table provides additional detail regarding the composition of and reclassification adjustments out of accumulated other comprehensive loss for the periods presented: | ||||||||||
Fiscal | |||||||||||
2013 | 2012 | Location on Consolidated Statements of Operations | |||||||||
(in thousands) | |||||||||||
Beginning Balance | $ | (8,758 | ) | $ | (8,486 | ) | |||||
Reclassification adjustments: | |||||||||||
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 | |||||||
Other changes to accumulated other comprehensive loss: | |||||||||||
Change in minimum pension liability | (177 | ) | (413 | ) | |||||||
Unrealized gains on securities | — | 141 | |||||||||
Ending Balance | $ | — | $ | (8,758 | ) | ||||||
Schedule of Accumulated and Projected Benefit Obligations [Table Text Block] | The following table provides a reconciliation of projected benefit obligations, plan assets and funded status of the plan as of the period presented: | ||||||||||
February 1, 2014 | |||||||||||
(in thousands) | |||||||||||
Change in projected benefit obligation: | |||||||||||
Projected benefit obligation at beginning of year | $ | 23,005 | |||||||||
Interest cost | 843 | ||||||||||
Benefits paid | (23,218 | ) | |||||||||
Settlement gain | (270 | ) | |||||||||
Actuarial gain | (360 | ) | |||||||||
Projected benefit obligation at end of year | — | ||||||||||
Change in plan assets: | |||||||||||
Fair market value at beginning of year | 18,461 | ||||||||||
Actual loss on plan assets | (97 | ) | |||||||||
Employer contributions | 5,027 | ||||||||||
Benefits paid | (23,218 | ) | |||||||||
Other | (173 | ) | |||||||||
Fair market value at end of year | $ | — | |||||||||
Components of Net Periodic Benefit Cost | The components of net periodic benefit cost are comprised of the following for the periods presented: | ||||||||||
Fiscal | |||||||||||
2013 | 2012 | ||||||||||
(in thousands) | |||||||||||
Interest cost | $ | 843 | $ | 919 | |||||||
Expected return on plan assets | (808 | ) | (1,208 | ) | |||||||
Loss recognized due to settlements | 14,224 | 67 | |||||||||
Amortization of net loss | 494 | 398 | |||||||||
Net periodic benefit cost | $ | 14,753 | $ | 176 | |||||||
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] | For the periods presented, other changes in plan assets and benefit obligations recognized in net periodic cost and other comprehensive income loss consist of: | ||||||||||
Fiscal | |||||||||||
2013 | 2012 | ||||||||||
(in thousands) | |||||||||||
Net actuarial loss | $ | 671 | $ | 1,717 | |||||||
Loss recognized due to settlements | (14,224 | ) | (67 | ) | |||||||
Amortization of net loss | (494 | ) | (398 | ) | |||||||
Total recognized in other comprehensive (income) loss | (14,047 | ) | 1,252 | ||||||||
Net periodic benefit cost | 14,753 | 176 | |||||||||
Total recognized in net periodic benefit cost and other comprehensive income | $ | 706 | $ | 1,428 | |||||||
Segment_Reporting_Tables
Segment Reporting (Tables) | 12 Months Ended | |||||||||||||||
Jan. 31, 2015 | ||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||
Segment Information | ||||||||||||||||
DSW | Affiliated Business Group | Other | DSW Inc. | |||||||||||||
(in thousands) | ||||||||||||||||
As of and for the fiscal year ended January 31, 2015 | ||||||||||||||||
Net sales | $ | 2,352,464 | $ | 143,628 | — | $ | 2,496,092 | |||||||||
Gross profit | 726,630 | 28,391 | — | 755,021 | ||||||||||||
Capital expenditures | 90,215 | 3,099 | — | 93,314 | ||||||||||||
Total assets | 1,263,577 | 104,897 | $ | 69,769 | 1,438,243 | |||||||||||
As of and for the fiscal year ended February 1, 2014 | ||||||||||||||||
Net sales | $ | 2,230,996 | $ | 137,672 | — | $ | 2,368,668 | |||||||||
Gross profit | 710,972 | 28,315 | — | 739,287 | ||||||||||||
Capital expenditures | 83,231 | 569 | — | 83,800 | ||||||||||||
Total assets | 1,340,629 | 80,221 | $ | 394 | 1,421,244 | |||||||||||
As of and for the fiscal year ended February 2, 2013 | ||||||||||||||||
Net sales | $ | 2,125,262 | $ | 132,516 | — | $ | 2,257,778 | |||||||||
Gross profit | 696,854 | 27,866 | — | 724,720 | ||||||||||||
Capital expenditures | 99,326 | 426 | — | 99,752 | ||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Jan. 31, 2015 | ||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Income Tax Provision- The following table presents the composition of the provision for income taxes for continuing operations for the periods presented: | |||||||||||
Fiscal | ||||||||||||
January 31, 2015 | February 1, 2014 | February 2, 2013 | ||||||||||
Current: | (in thousands) | |||||||||||
Federal | $ | 80,205 | $ | 36,407 | $ | 14,070 | ||||||
Foreign | 717 | 22 | — | |||||||||
State and local | 16,152 | 14,817 | 9,193 | |||||||||
Total current tax expense | 97,074 | 51,246 | 23,263 | |||||||||
Deferred: | ||||||||||||
Federal | (1,616 | ) | 42,557 | 70,158 | ||||||||
State and local | 255 | (1,098 | ) | 2,006 | ||||||||
Total deferred tax expense | (1,361 | ) | 41,459 | 72,164 | ||||||||
Income tax provision | $ | 95,713 | $ | 92,705 | $ | 95,427 | ||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Rate Reconciliation- The following table presents a reconciliation of the expected income taxes for continuing operations based upon the statutory federal income tax rate: | |||||||||||
Fiscal | ||||||||||||
January 31, 2015 | February 1, 2014 | February 2, 2013 | ||||||||||
(in thousands) | ||||||||||||
Income tax expense at federal statutory rate | $ | 87,059 | $ | 85,402 | $ | 84,215 | ||||||
State and local taxes-net | 8,808 | 8,532 | 7,631 | |||||||||
Warrants | — | — | 2,142 | |||||||||
Other | (154 | ) | (1,229 | ) | 1,439 | |||||||
Income tax provision | $ | 95,713 | $ | 92,705 | $ | 95,427 | ||||||
Summary of Deferred Tax Assets and Liabilities [Table Text Block] | Deferred Tax Assets and Liabilities- The following tables present the deferred tax assets and liabilities and the components of deferred tax assets and liabilities as of the periods presented: | |||||||||||
January 31, 2015 | February 1, 2014 | |||||||||||
(in thousands) | ||||||||||||
Current deferred tax assets | $ | 19,747 | $ | 18,130 | ||||||||
Non-current deferred tax assets | 11,332 | 11,587 | ||||||||||
Total net deferred tax asset | $ | 31,079 | $ | 29,717 | ||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ||||||||||||
January 31, 2015 | February 1, 2014 | |||||||||||
(in thousands) | ||||||||||||
Deferred tax assets: | ||||||||||||
State net operating loss and tax credits | $ | 701 | $ | 332 | ||||||||
Inventory | 7,562 | 5,826 | ||||||||||
Construction and tenant allowances | 6,074 | 7,441 | ||||||||||
Stock-based compensation | 9,624 | 7,457 | ||||||||||
Benefit from uncertain tax positions | 100 | 58 | ||||||||||
Guarantees | 1,185 | 1,347 | ||||||||||
Accrued expenses | 1,890 | 961 | ||||||||||
Accrued rewards | 5,918 | 7,756 | ||||||||||
Accrued rent | 15,395 | 14,790 | ||||||||||
Other | 14,317 | 13,068 | ||||||||||
Total deferred tax assets, gross of valuation allowance | 62,766 | 59,036 | ||||||||||
Less: valuation allowance | (1,246 | ) | (860 | ) | ||||||||
Total deferred tax assets, net of valuation allowance | 61,520 | 58,176 | ||||||||||
Deferred tax liabilities: | ||||||||||||
Property and equipment | (27,236 | ) | (24,214 | ) | ||||||||
Prepaid expenses | (1,113 | ) | (957 | ) | ||||||||
Other | (2,092 | ) | (3,288 | ) | ||||||||
Total deferred tax liabilities | (30,441 | ) | (28,459 | ) | ||||||||
Total – net deferred tax asset | $ | 31,079 | $ | 29,717 | ||||||||
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | The following table presents the reconciliation of the beginning and ending amount of unrecognized tax benefits as of the periods presented: | |||||||||||
January 31, 2015 | February 1, 2014 | February 2, 2013 | ||||||||||
(in thousands) | ||||||||||||
Beginning balance | $ | 1,838 | $ | 1,253 | $ | 2,315 | ||||||
Additions for tax positions taken in the current year | 1,621 | 1,184 | 400 | |||||||||
Reductions for tax positions taken in prior years: | ||||||||||||
Changes in judgment | — | (69 | ) | (345 | ) | |||||||
Lapses of applicable statutes of limitations | — | (530 | ) | (755 | ) | |||||||
Settlements during the year | (73 | ) | — | (362 | ) | |||||||
Ending balance | $ | 3,386 | $ | 1,838 | $ | 1,253 | ||||||
Quarterly_Financial_Data_Unaud1
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended | |||||||||||||||
Jan. 31, 2015 | ||||||||||||||||
Quarterly Financial Data [Abstract] | ||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | In the Company’s opinion, the unaudited quarterly financial information reflects all normal and recurring accruals and adjustments necessary for a fair presentation of net income for interim periods. Quarterly results are not necessarily indicative of a full year’s operations because of various factors. The following tables present unaudited quarterly financial information for the periods presented: | |||||||||||||||
Thirteen weeks ended | ||||||||||||||||
May 3, 2014 | August 2, 2014 | November 1, 2014 | January 31, 2015 | |||||||||||||
(in thousands, except per share data) | ||||||||||||||||
Net sales | $ | 598,947 | $ | 587,096 | $ | 669,872 | $ | 640,177 | ||||||||
Cost of sales | (410,942 | ) | (415,192 | ) | (451,315 | ) | (463,622 | ) | ||||||||
Operating expenses | (126,754 | ) | (118,594 | ) | (138,860 | ) | (128,681 | ) | ||||||||
Operating profit | 61,251 | 53,310 | 79,697 | 47,874 | ||||||||||||
Interest income, net | 958 | 635 | 600 | 602 | ||||||||||||
Income from continuing operations before income taxes and income from Town Shoes | 62,209 | 53,945 | 80,297 | 48,476 | ||||||||||||
Income tax provision | (23,570 | ) | (20,824 | ) | (31,792 | ) | (19,527 | ) | ||||||||
Income from Town Shoes | — | 849 | 1,049 | 1,915 | ||||||||||||
Income from continuing operations | 38,639 | 33,970 | 49,554 | 30,864 | ||||||||||||
Income from discontinued operations, net of tax | — | 358 | — | (86 | ) | |||||||||||
Net income | $ | 38,639 | $ | 34,328 | $ | 49,554 | $ | 30,778 | ||||||||
Diluted earnings per share(1): | $ | 0.42 | $ | 0.38 | $ | 0.55 | $ | 0.34 | ||||||||
Thirteen weeks ended | ||||||||||||||||
4-May-13 | 3-Aug-13 | 2-Nov-13 | 1-Feb-14 | |||||||||||||
(in thousands, except per share data) | ||||||||||||||||
Net sales | $ | 601,362 | $ | 562,063 | $ | 632,976 | $ | 572,267 | ||||||||
Cost of sales | (418,365 | ) | (378,621 | ) | (420,106 | ) | (412,289 | ) | ||||||||
Operating expenses | (128,711 | ) | (129,461 | ) | (124,614 | ) | (115,113 | ) | ||||||||
Operating profit | 54,286 | 53,981 | 88,256 | 44,865 | ||||||||||||
Interest income, net | 340 | 481 | 1,036 | 762 | ||||||||||||
Income from continuing operations before income taxes | 54,626 | 54,462 | 89,292 | 45,627 | ||||||||||||
Income tax provision | (20,111 | ) | (20,742 | ) | (34,331 | ) | (17,521 | ) | ||||||||
Net income | $ | 34,515 | $ | 33,720 | $ | 54,961 | $ | 28,106 | ||||||||
Diluted earnings per share(1): | $ | 0.38 | $ | 0.37 | $ | 0.6 | $ | 0.3 | ||||||||
Business_Operations_Sales_by_C
Business Operations Sales by Category (Details) | 12 Months Ended | ||
Jan. 31, 2015 | Feb. 01, 2014 | Feb. 02, 2013 | |
Womens' [Member] | |||
Percentage of revenue by merchandise category [Abstract] | |||
Concentration Risk, Percentage | 61.00% | 62.00% | 65.00% |
Men's [Member] | |||
Percentage of revenue by merchandise category [Abstract] | |||
Concentration Risk, Percentage | 18.00% | 17.00% | 16.00% |
Athletic [Member] | |||
Percentage of revenue by merchandise category [Abstract] | |||
Concentration Risk, Percentage | 12.00% | 12.00% | 12.00% |
Accessories and Other [Member] | |||
Percentage of revenue by merchandise category [Abstract] | |||
Concentration Risk, Percentage | 9.00% | 9.00% | 7.00% |
Business_Operations_Store_Data
Business Operations Store Data (Details) | 12 Months Ended | ||
Jan. 31, 2015 | Feb. 01, 2014 | Feb. 02, 2013 | |
Schedule of Stores Supplied With Merchandise [Line Items] | |||
Number of Reportable Segments | 2 | ||
Affiliated Business Group [Abstract] | |||
Number of new leased departments added | 27 | 18 | 19 |
Number of leased departments ceased | 12 | 6 | 11 |
DSW Segment [Abstract] | |||
Number of States in which Entity Operates | 42 | ||
Number of Stores | 431 | ||
Number of new stores opened | 37 | 30 | 39 |
Number of stores closed | 1 | ||
Stein Mart Stores [Member] | |||
Affiliated Business Group [Abstract] | |||
Number of stores supplied by the entity | 269 | ||
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 | 4 | ||
Affiliated Business Group segment [Member] | |||
Affiliated Business Group [Abstract] | |||
Concentration Risk, Percentage | 5.80% | 5.80% | 5.90% |
Basis_of_Presentation_Merger_w
Basis of Presentation Merger with Retail Ventures, Inc. (Details) | 12 Months Ended |
Jan. 28, 2012 | |
Merger with RVI [Abstract] | |
Stockholders Equity Reverse Stock Split Conversion Ratio | 0.435 |
Investment_in_Town_Shoes_Limit3
Investment in Town Shoes Limited (Details) (USD $) | 12 Months Ended | |||
Jan. 31, 2015 | Feb. 01, 2014 | Feb. 02, 2013 | 9-May-14 | |
Schedule of Equity Method Investments [Line Items] | ||||
Balance at beginning of period | $0 | |||
Initial investment | 22,339,000 | |||
Acquisition Costs, Period Cost | 2,897,000 | |||
DSW Inc.'s portion of Town Shoes net income | 178,000 | |||
Foreign currency translation adjustments included in Other comprehensive income | 729,000 | |||
Amortization of purchase price adjustments | -256,000 | |||
Balance at end of period | 25,887,000 | 0 | ||
Balance at beginning of period | 0 | |||
Purchase of note receivable | 46,596,000 | 0 | 0 | |
Payment-in-kind interest | 3,891,000 | |||
Foreign currency translation adjustments included in Other comprehensive income | -7,183,000 | |||
Balance at end of period | 43,304,000 | 0 | ||
Shareholder Note, Interest Rate | 12.00% | |||
Town Shoe Acquisition, Purchase Price for Ownership Interest (CAD) | 75,100,000 | |||
Town Shoe Acquisition, Purchase Price for Ownership Interest (USD) | $68,900,000 | |||
Town Shoe Acquisition, Ownership Interest Acquired | 49.00% | |||
Town Shoe Acquisition, Voting Control Interest Acquired | 50.00% |
Significant_Accounting_Policie3
Significant Accounting Policies (Details) (USD $) | 12 Months Ended | |||
Jan. 31, 2015 | Feb. 01, 2014 | Feb. 02, 2013 | 9-May-14 | |
New Store Costs [Abstract] | ||||
Pre-Opening Costs | $8,700,000 | $7,900,000 | $16,000,000 | |
Marketing Expense [Abstract] | ||||
Marketing Expense | 59,900,000 | 56,200,000 | 55,900,000 | |
Other Income and Expenses [Abstract] | ||||
Other Operating Income | 17,300,000 | 14,100,000 | 14,500,000 | |
Financial Instruments [Abstract] | ||||
Credit and Debit Card Receivables, at Carrying Value | 16,100,000 | 13,200,000 | ||
Concentration of Vendor Risk [Abstract] | ||||
Property, Plant and Equipment, Useful Life | 39 years | |||
Asset Impairment and Long-lived Assets [Abstract] | ||||
Impairment of Long-Lived Assets Held-for-use | 5,095,000 | 809,000 | 0 | |
Self-insurance Reserves [Abstract] | ||||
Self Insurance Reserve | 4,000,000 | 3,000,000 | ||
Town Shoe Acquisition, Purchase Price for Ownership Interest (CAD) | 75,100,000 | |||
Town Shoe Acquisition, Purchase Price for Ownership Interest (USD) | 68,900,000 | |||
Effect of Exchange Rate on Cash | 600,000 | |||
Rental Income [Member] | ||||
Other Income and Expenses [Abstract] | ||||
Other Operating Income (Expense), Net | 4,500,000 | 5,100,000 | 1,200,000 | |
Supplier Concentration Risk [Member] | ||||
Concentration of Vendor Risk [Abstract] | ||||
Concentration Risk, Percentage | 18.00% | 19.00% | 18.00% | |
Minimum [Member] | Furniture and Fixtures [Member] | ||||
Concentration of Vendor Risk [Abstract] | ||||
Property, Plant and Equipment, Useful Life | 3 years | |||
Minimum [Member] | Building and Building Improvements [Member] | ||||
Concentration of Vendor Risk [Abstract] | ||||
Property, Plant and Equipment, Useful Life | 3 years | |||
Maximum [Member] | Furniture and Fixtures [Member] | ||||
Concentration of Vendor Risk [Abstract] | ||||
Property, Plant and Equipment, Useful Life | 10 years | |||
Maximum [Member] | Building and Building Improvements [Member] | ||||
Concentration of Vendor Risk [Abstract] | ||||
Property, Plant and Equipment, Useful Life | 20 years | |||
Insurance Claims [Member] | ||||
Other Income and Expenses [Abstract] | ||||
Other Operating Income (Expense), Net | $5,300,000 | |||
Yellow Box [Member] | ||||
Number of stores supplied by the entity | 4 |
Significant_Accounting_Policie4
Significant Accounting Policies Intangible Assets, Goodwill and Long-lived Assets (Details) (USD $) | Jan. 31, 2015 | Feb. 01, 2014 |
In Thousands, unless otherwise specified | ||
Goodwill [Line Items] | ||
Goodwill | $25,899 | $25,899 |
Significant_Accounting_Policie5
Significant Accounting Policies Allowance for Doubtful Accounts (Details) (USD $) | Jan. 31, 2015 | Feb. 01, 2014 |
In Millions, unless otherwise specified | ||
Allowance for Doubtful Accounts Receivable [Roll Forward] | ||
Valuation Allowances and Reserves, Balance | $0.10 | $0.30 |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 12 Months Ended | |||
Share data in Millions, unless otherwise specified | Jan. 31, 2015 | Feb. 01, 2014 | Feb. 02, 2013 | Nov. 01, 2012 |
Schottenstein Affiliates [Abstract] | ||||
Outstanding common shares owned (in hundredths) | 17.00% | |||
Combined voting power of outstanding common shares (in hundredths) | 49.00% | |||
Number of Class A Common Shares owned by Schottenstein Affiliates (in shares) | 7.3 | |||
Number of Class B Common Shares owned by Schottenstein Affiliates (in shares) | 7.7 | |||
Purchase of Corporate Office and Distribution Center [Abstract] | ||||
Contribution to cost for replacing the roof of building | $3,000,000 | |||
Management fee paid to Schottenstein Affiliate, percentage (in hundredths) | 4.00% | |||
Related Party Transaction, Expenses from Transactions with Related Party | 200,000 | |||
Payments for Rent | 2,600,000 | |||
Common Control Assets Acquired Investing Cash Flows Impact | 0 | 0 | 32,443,000 | |
Common Control Assets Acquired Financing Cash Flows Impact | 0 | 0 | -39,557,000 | |
Asset acquisition, cash paid | -72,000,000 | |||
Less: Tenant allowances and deferred rent | -8,310,000 | |||
Property, Plant and Equipment, Other, Net | 24,133,000 | |||
Tax Effect of Common Control Asset purchase | 0 | 0 | 17,877,000 | |
Tax Effect of Basis Difference Related to Acquisition of Common Control Entity | -3,300,000 | -3,313,000 | ||
Basis difference related to acquisition of commonly controlled entity | -24,993,000 | -24,993,000 | ||
Related Party Investment [Abstract] | ||||
Return of Capital from Related Party Investment | 1,200,000 | |||
Other Related Party Transactions [Abstract] | ||||
Related Party Transaction, Purchases from Related Party | 900,000 | 900,000 | 1,300,000 | |
Reimbursements received from related parties | $1,800,000 | $200,000 |
Earnings_per_Share_and_Shareho2
Earnings per Share and Shareholders' Equity Anti-Dilutive Securities (Details) | 12 Months Ended | ||
In Millions, unless otherwise specified | Jan. 31, 2015 | Feb. 01, 2014 | Feb. 02, 2013 |
Stock Options and Restricted Stock Units [Member] | |||
Diluted earnings per share [Abstract] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1.1 | 0.8 | 0.6 |
Warrants [Member] | |||
Diluted earnings per share [Abstract] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0.2 |
Earnings_per_Share_and_Shareho3
Earnings per Share and Shareholders' Equity Calculation of Earnings per Share (Details) (USD $) | 12 Months Ended | |||
Jan. 31, 2015 | Feb. 01, 2014 | Feb. 02, 2013 | Nov. 21, 2014 | |
Reconciliation of the number of shares used in the calculation of diluted earnings (loss) per share [Abstract] | ||||
Basic shares | 89,499,000 | 90,472,000 | 88,846,000 | |
Assumed exercise of dilutive stock options | 910,000 | 1,202,000 | 1,504,000 | |
Assumed exercise of dilutive RSUs and PSUs | 203,000 | 227,000 | 256,000 | |
Diluted shares | 90,612,000 | 91,901,000 | 90,606,000 | |
Shareholders' equity [Abstract]: | ||||
Amount authorized under the share repurchase program | $100,000,000 | |||
Stock Repurchase Program, Additional Authorization | 50,000,000 | |||
Stock Repurchased During Period, Value | -85,338,000 | -1,600,000 | ||
Stock Repurchased During Period, Shares | 3,000,000 | |||
Treasury Stock, Value | -86,938,000 | -1,600,000 | ||
Class A Common Shares | ||||
Shareholders' equity [Abstract]: | ||||
Stock Repurchased During Period, Value | ($85,300,000) | |||
Stock Repurchased During Period, Shares | 2,998,000 | 38,000 | ||
Treasury Shares | ||||
Shareholders' equity [Abstract]: | ||||
Treasury Stock, Shares | 3,000,000 |
Stockbased_Compensation_Option
Stock-based Compensation Options (Details) (USD $) | 12 Months Ended | 3 Months Ended | ||
Jan. 31, 2015 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 31, 2015 | |
DSW Stock-Based Compensation Plans [Abstract] | ||||
Number of shares authorized (in shares) | 8,500,000 | 8,500,000 | ||
Annual vesting percentage (in hundredths) | 20.00% | |||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||
Share-based compensation expense | $10,495,000 | $9,342,000 | $8,080,000 | |
Stock options activity [Roll forward] | ||||
Options, Outstanding, Weighted Average Exercise Price | $20.91 | 20.91 | ||
Exercisable Options, Weighted Average Exercise Price | $15.16 | 15.16 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest [Abstract] | ||||
Options exercisable, Aggregate Instrinsic Value | 34,316,000 | 34,316,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized [Abstract] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 46,240,000 | 46,240,000 | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options | 1,682,000 | 1,682,000 | ||
Stock Appreciation Rights (SARs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ||||
Risk-free interest rate | 0.62% | |||
Annual volatility of DSW Common Shares | 24.91% | |||
Expected option term | 2 years 3 months | |||
Dividend yield | 2.29% | |||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||
Share-based compensation expense | 1,700,000 | |||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized [Abstract] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 500,000 | 500,000 | ||
Performance Based Restricted Stock Units (PSUs) [Member] | ||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||
Share-based compensation expense | 1,324,000 | 503,000 | 0 | |
Stock options activity [Roll forward] | ||||
Outstanding, end of period (in units) | 173,000 | 69,000 | 0 | 173,000 |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized [Abstract] | ||||
Weighted average expense recognition period (in years) | 2 years 0 months | |||
Stock Options [Member] | ||||
DSW Stock-Based Compensation Plans [Abstract] | ||||
Number of shares authorized (in shares) | 11,200,000 | 11,200,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ||||
Risk-free interest rate | 1.81% | 0.70% | 1.20% | |
Annual volatility of DSW Common Shares | 44.50% | 53.40% | 56.20% | |
Expected option term | 5 years 5 months | 4 years 8 months | 5 years 6 months | |
Dividend yield | 2.26% | 1.30% | 1.20% | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||
Weighted average grant date fair value (in dollars per share) | $11.82 | $12.85 | $12.59 | |
Share-based compensation expense | 5,827,000 | 5,891,000 | 5,459,000 | |
Stock options activity [Roll forward] | ||||
Outstanding, beginning of period (in shares) | 3,347,000 | 3,694,000 | 5,016,000 | |
Granted | 502,000 | 492,000 | 674,000 | |
Increase in options from dividend adjustment | 0 | 0 | 128,000 | |
Exercised | -505,000 | -748,000 | -2,004,000 | |
Forfeited | -188,000 | -91,000 | -120,000 | |
Outstanding, end of period (in shares) | 3,156,000 | 3,347,000 | 3,694,000 | 3,156,000 |
Options, Outstanding, Weighted Average Exercise Price | $17.62 | $14.50 | $11.22 | |
Options, Grants in Period, Weighted Average Exercise Price | $34.49 | $31.75 | $27.47 | |
Options, Exercises in Period, Weighted Average Exercise Price | $10.22 | $10.99 | $9.62 | |
Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price | $27.32 | $21.79 | $15.82 | |
Options, Outstanding, Weighted Average Exercise Price | $20.91 | $17.62 | $14.50 | 20.91 |
Exercisable Options, Weighted Average Exercise Price | $15.16 | $13.08 | $12.76 | 15.16 |
Options, Additional Disclosures [Abstract] | ||||
Options, Vested in Period, Fair Value | 2,500,000 | 3,800,000 | 4,800,000 | |
Options, Exercises in Period, Total Intrinsic Value | 11,900,000 | 20,900,000 | 41,700,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest [Abstract] | ||||
Options exercisable end of year | 1,682,000 | 1,430,000 | 1,260,000 | 1,682,000 |
Options, Exercisable, Weighted Average Remaining Contractual Term | 4 years 3 months | |||
Options exercisable, Aggregate Instrinsic Value | 34,316,000 | 34,316,000 | ||
Options expected to vest (in shares) | 1,285,000 | 1,285,000 | ||
Options Expected to Vest WAEP | $27.65 | 27.65 | ||
Options Expected to Vest, Weighted Average Remaining Contractual Term | 7 years 8 months | |||
Options Expected to Vest, Aggregate Intrinsic Value | 10,177,000 | 10,177,000 | ||
Options vested and expected to vest (in shares) | 2,967,000 | 2,967,000 | ||
Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $20.57 | 20.57 | ||
Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 5 years 9 months | |||
Options vested and expected to vest, Aggregate Intrinsic Value | 44,493,000 | 44,493,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized [Abstract] | ||||
Compensation cost not yet recognized related to nonvested awards | $12,500,000 | 12,500,000 | ||
Weighted average expense recognition period (in years) | 1 year 10 months 24 days | |||
Share-based Compensation Award, Tranche One [Member] | Stock Appreciation Rights (SARs) [Member] | ||||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized [Abstract] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price | $25.24 | 25.24 | ||
Share-based Compensation Award, Tranche Two [Member] | Stock Appreciation Rights (SARs) [Member] | ||||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized [Abstract] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price | $27.38 | 27.38 |
Stockbased_Compensation_Option1
Stock-based Compensation Options - Range of Exercise Prices (Details) (USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Jan. 31, 2015 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Option Plans, Exercise Price Range, Lower Range Limit | $4.65 |
Option Plans, Exercise Price Range, Upper Range Limit | $37.88 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 5 years 10 months 24 days |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 3,156 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $20.91 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $46,240 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options | 1,682 |
Exercisable Options, Weighted Average Exercise Price | $15.16 |
Options exercisable, Aggregate Instrinsic Value | 34,316 |
Range 1 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Option Plans, Exercise Price Range, Lower Range Limit | $8.84 |
Option Plans, Exercise Price Range, Upper Range Limit | $8.84 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 0 years 5 months |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 109 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price | $8.84 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 2,908 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options | 109 |
Exercisable Options, Weighted Average Exercise Price | $8.84 |
Options exercisable, Aggregate Instrinsic Value | 2,908 |
Range 2 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Option Plans, Exercise Price Range, Lower Range Limit | $12.93 |
Option Plans, Exercise Price Range, Upper Range Limit | $14.50 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 1 year 7 months |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 93 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price | $12.99 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 2,110 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options | 93 |
Exercisable Options, Weighted Average Exercise Price | $12.99 |
Options exercisable, Aggregate Instrinsic Value | 2,110 |
Range 3 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Option Plans, Exercise Price Range, Lower Range Limit | $10.42 |
Option Plans, Exercise Price Range, Upper Range Limit | $19.94 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 2 years 2 months |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 301 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price | $19.83 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 4,735 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options | 301 |
Exercisable Options, Weighted Average Exercise Price | $19.83 |
Options exercisable, Aggregate Instrinsic Value | 4,735 |
Range 4 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Option Plans, Exercise Price Range, Lower Range Limit | $6.01 |
Option Plans, Exercise Price Range, Upper Range Limit | $9.15 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 3 years 2 months |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 170 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price | $6.19 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 5,006 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options | 170 |
Exercisable Options, Weighted Average Exercise Price | $6.19 |
Options exercisable, Aggregate Instrinsic Value | 5,006 |
Range 5 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Option Plans, Exercise Price Range, Lower Range Limit | $4.65 |
Option Plans, Exercise Price Range, Upper Range Limit | $7 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 4 years 2 months |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 176 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price | $4.76 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 5,415 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options | 176 |
Exercisable Options, Weighted Average Exercise Price | $4.76 |
Options exercisable, Aggregate Instrinsic Value | 5,415 |
Range 6 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Option Plans, Exercise Price Range, Lower Range Limit | $12.34 |
Option Plans, Exercise Price Range, Upper Range Limit | $12.38 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 5 years 1 month |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 503 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price | $12.37 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 11,659 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options | 352 |
Exercisable Options, Weighted Average Exercise Price | $12.37 |
Options exercisable, Aggregate Instrinsic Value | 8,170 |
Range 7 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Option Plans, Exercise Price Range, Lower Range Limit | $17.43 |
Option Plans, Exercise Price Range, Upper Range Limit | $22.71 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 6 years 1 month |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 428 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price | $17.49 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 7,737 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options | 221 |
Exercisable Options, Weighted Average Exercise Price | $17.48 |
Options exercisable, Aggregate Instrinsic Value | 3,996 |
2012 - expire in 2022 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Option Plans, Exercise Price Range, Lower Range Limit | $26.66 |
Option Plans, Exercise Price Range, Upper Range Limit | $27.18 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 7 years 2 months |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 519 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price | $26.67 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 4,611 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options | 194 |
Exercisable Options, Weighted Average Exercise Price | $26.67 |
Options exercisable, Aggregate Instrinsic Value | 1,721 |
2013 - expire in 2023 [Member] [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Option Plans, Exercise Price Range, Lower Range Limit | $31.68 |
Option Plans, Exercise Price Range, Upper Range Limit | $31.68 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 8 years 1 month |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 392 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price | $31.68 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 1,520 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options | 66 |
Exercisable Options, Weighted Average Exercise Price | $31.68 |
Options exercisable, Aggregate Instrinsic Value | 255 |
2014 - expire 2024 [Member] | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |
Option Plans, Exercise Price Range, Lower Range Limit | $25.24 |
Option Plans, Exercise Price Range, Upper Range Limit | $37.88 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term | 9 years 3 months |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Outstanding Options | 465 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price | $34.40 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | 539 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options | 0 |
Exercisable Options, Weighted Average Exercise Price | $0 |
Options exercisable, Aggregate Instrinsic Value | $0 |
Stockbased_Compensation_Restri
Stock-based Compensation Restricted Stock Units, Performance Based Restricted Stock Units and Director Stock Units (Details) (USD $) | 12 Months Ended | ||
Share data in Thousands, except Per Share data, unless otherwise specified | Jan. 31, 2015 | Feb. 01, 2014 | Feb. 02, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | |||
Share-based compensation expense | $10,495,000 | $9,342,000 | $8,080,000 |
Performance Based Restricted Stock Units (PSUs) [Member] | |||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized [Abstract] | |||
Nonvested Awards, Total Compensation Cost Not yet Recognized, Share-based Awards Other than Options | 3,900,000 | ||
Weighted average expense recognition period (in years) | 2 years 0 months | ||
Equity instruments other than options [Roll forward] | |||
Outstanding, beginning of period (in units) | 69 | 0 | |
Granted (in units) | 111 | 69 | |
Vested (in units) | 0 | 0 | |
Forfeited (in units) | -7 | 0 | |
Outstanding, end of period (in units) | 173 | 69 | 0 |
Outstanding, Weighted Average Grant Date Fair Value | $31.76 | $0 | |
Grants in Period, Weighted Average Grant Date Fair Value | $34.52 | $31.76 | |
Vested in Period, Weighted Average Grant Date Fair Value | $0 | $0 | |
Forfeitures, Weighted Average Grant Date Fair Value | $32.74 | $0 | |
Outstanding, Weighted Average Grant Date Fair Value | $33.50 | $31.76 | $0 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | |||
Share-based compensation expense | 1,324,000 | 503,000 | 0 |
Share Based Compensation by Share Based Payment Award Other Than Option Weighted Average Exercise Price | $0 | ||
Restricted Units Expected to Vest [Abstract] | |||
RSUs expected to vest | 142 | ||
Restricted stock units weighted average grant date fair value | $33.50 | ||
Restricted stock units expected to vest Weighted Average Remaining Contract Life | 1 year 10 months 24 days | ||
Restricted Stock Units Expected to Vest Aggregate Intrinsic Value | 5,052,000 | ||
Restricted Stock Units (RSUs) [Member] | |||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized [Abstract] | |||
Nonvested Awards, Total Compensation Cost Not yet Recognized, Share-based Awards Other than Options | 5,000,000 | ||
Weighted average expense recognition period (in years) | 1 year 8 months | ||
Equity instruments other than options [Roll forward] | |||
Outstanding, beginning of period (in units) | 377 | 436 | 546 |
Granted (in units) | 103 | 92 | 114 |
Vested (in units) | -114 | -136 | -208 |
Forfeited (in units) | -46 | -15 | -16 |
Outstanding, end of period (in units) | 320 | 377 | 436 |
Outstanding, Weighted Average Grant Date Fair Value | $23.41 | $15.39 | $9.33 |
Grants in Period, Weighted Average Grant Date Fair Value | $34.53 | $35.50 | $27.48 |
Vested in Period, Weighted Average Grant Date Fair Value | $14.11 | $5.51 | $5.86 |
Forfeitures, Weighted Average Grant Date Fair Value | $29.55 | $29.46 | $16.82 |
Outstanding, Weighted Average Grant Date Fair Value | $29.21 | $23.41 | $15.39 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | |||
Share-based compensation expense | 2,097,000 | 1,797,000 | 1,511,000 |
Intrinsic value other than options that vested during the period | 3,700,000 | 4,000,000 | 5,600,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Total Fair Value | 1,400,000 | 700,000 | 1,200,000 |
Restricted Units Expected to Vest [Abstract] | |||
RSUs expected to vest | 255 | ||
Restricted stock units weighted average grant date fair value | $29.40 | ||
Restricted stock units expected to vest Weighted Average Remaining Contract Life | 1 year 3 months | ||
Restricted Stock Units Expected to Vest Aggregate Intrinsic Value | 9,066,000 | ||
Director Stock Units [Member] | |||
Equity instruments other than options [Roll forward] | |||
Outstanding, beginning of period (in units) | 330 | 316 | 384 |
Granted (in units) | 52 | 34 | 54 |
Non-Option Equity Instruments, Exercised | -22 | -20 | -122 |
Outstanding, end of period (in units) | 360 | 330 | 316 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract] | |||
Share-based compensation expense | $1,247,000 | $1,151,000 | $1,110,000 |
Share Based Compensation by Share Based Payment Award Other Than Option Weighted Average Exercise Price | $0 |
Investments_Details
Investments (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Jan. 31, 2015 | Feb. 01, 2014 |
Schedule of Investments, Reported Amounts, by Category [Line Items] | ||
Short-term investments | $171,201 | $224,098 |
Long-term investments | 216,756 | 243,188 |
Investment disclosure [Abstract] | ||
Gross unrealized gains on short-term investments | 117 | 151 |
Gross unrealized losses on short-term investments | 50 | 82 |
Gross unrealized gains from long-term held-to-maturity investments | 371 | 561 |
Gross unrealized losses on long-term held-to-maturity investments | 317 | 376 |
Held-to-maturity Securities [Member] | Term notes and bonds | ||
Schedule of Investments, Reported Amounts, by Category [Line Items] | ||
Short-term investments | 154,054 | 202,048 |
Long-term investments | 216,756 | 243,188 |
Available-for-sale Securities [Member] | Bonds | ||
Schedule of Investments, Reported Amounts, by Category [Line Items] | ||
Short-term investments | 17,147 | 22,050 |
Long-term investments | $0 | $0 |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jan. 31, 2015 | Feb. 01, 2014 | Feb. 02, 2013 |
Financial Assets: | |||
Cash and equivalents | $59,171 | $112,021 | |
Short-term investments(a) | 171,268 | 224,167 | |
Long-term investments(a) | 216,810 | 243,373 | |
Notes Receivable, Related Parties, Noncurrent | 43,304 | 0 | |
Total assets | 490,553 | 579,561 | |
Activity related to fair value of assets held and used that realized an impairment loss [Abstract] | |||
Assets held and used | 0 | ||
Impairment of Long-Lived Assets Held-for-use | 5,095 | 809 | 0 |
Impairment of Long-Lived Assets to be Disposed of | 809 | ||
Level 1 [Member] | |||
Financial Assets: | |||
Cash and equivalents | 59,171 | 112,021 | |
Short-term investments(a) | 0 | 0 | |
Long-term investments(a) | 0 | 0 | |
Notes Receivable, Related Parties, Noncurrent | 0 | 0 | |
Total assets | 59,171 | 112,021 | |
Level 2 [Member] | |||
Financial Assets: | |||
Cash and equivalents | 0 | 0 | |
Short-term investments(a) | 171,268 | 224,167 | |
Long-term investments(a) | 216,810 | 243,373 | |
Notes Receivable, Related Parties, Noncurrent | 43,304 | 0 | |
Total assets | $431,382 | $467,540 |
Debt_Obligations_and_Warrant_L1
Debt Obligations and Warrant Liabilities Credit Facility (Details) (USD $) | 12 Months Ended | ||
Jan. 31, 2015 | Feb. 01, 2014 | Feb. 02, 2013 | |
Credit Facility [Abstract] | |||
Initiation date | 2-Aug-13 | ||
Prior Line of Credit Facility, Initiation Date | 30-Jun-10 | ||
Prior Line of Credit Facility, Maximum Borrowing Capacity | $100,000,000 | ||
Credit Facility, maximum capacity | 50,000,000 | ||
Line of Credit Facility, Interest Rate Description | Revolving credit loans bear interest under the Credit Facility at the Company's option under: (a) a base rate option at a rate per annum equal to the highest of (i) the Federal Funds Open Rate (as defined in the Credit Facility), plus 0.5%, (ii) the Lender's prime rate, and (iii) the Daily LIBOR Rate (as defined in the Credit Facility) plus 1.0%, plus in each instance an applicable margin, which is between 1.00 and 1.25, based upon revolving credit availability; or (b) a LIBOR option at a rate equal to the LIBOR Rate (as defined in the Credit Facility), plus an applicable margin based upon the Company's revolving credit availability. | ||
Line of Credit Facility, Covenant Terms | In addition, the Credit Facility contains restrictive covenants relating to management and the operation of DSW Inc.'s business. These covenants, among other things, limit or restrict DSW Inc.'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. | ||
Credit Facility, Cash and Short Term Investment Requirement | 125,000,000 | ||
Limitation of Capital Expenditures | 200,000,000 | ||
Expiration date | 31-Jul-18 | ||
Line of Credit Facility, Additional Borrowing Capacity | 100,000,000 | ||
Capital expenditures | 98,126,000 | 86,412,000 | 102,034,000 |
Credit Facility, available capacity | 50,000,000 | 49,400,000 | |
Credit Facility, amount outstanding | 600,000 | ||
Debt Related Commitment Fees and Debt Issuance Costs | $100,000 | $300,000 | $600,000 |
Debt_Obligations_and_Warrant_L2
Debt Obligations and Warrant Liabilities Letter or Credit Agreement (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Jan. 31, 2015 | Feb. 01, 2014 |
Debt Instrument [Line Items] | ||
Letter of Credit, Expiration Date | 2-Aug-18 | |
Collateral Requirement (Domestic) | 103.00% | |
Letter of Credit Agreement, Cash Collateral Requirement (Foreign Currency) | 105.00% | |
Letter of Credit Facility, Initiation Date | 2-Aug-13 | |
Letter of Credit, Maximum Borrowing Capacity | $50 | |
Letters of Credit Outstanding, Amount | 9.3 | 5.6 |
Letters of credit outstanding, cash held on deposit | $11.50 | $6.10 |
Debt_Obligations_and_Warrant_L3
Debt Obligations and Warrant Liabilities Warrants (Details) (USD $) | 6 Months Ended | 12 Months Ended | |||
Share data in Millions, except Per Share data, unless otherwise specified | Jul. 28, 2012 | Jan. 31, 2015 | Feb. 01, 2014 | Feb. 02, 2013 | 31-May-12 |
Warrants [Abstract] | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1.5 | ||||
Exercise price per share per warrant | $5.17 | ||||
Proceeds from the exercise of warrants | $7,800,000 | $0 | $0 | $7,792,000 | |
Payments of Ordinary Dividends, Common Stock | 1,500,000 | ||||
Exercise of warrants | 35,400,000 | 43,216,000 | |||
Change in fair value of derivative instruments | $0 | $0 | ($6,121,000) |
Property_and_Equipment_Net_Det
Property and Equipment, Net (Details) (USD $) | Jan. 31, 2015 | Feb. 01, 2014 |
In Thousands, unless otherwise specified | ||
Property and equipment [Abstract]: | ||
Land | $1,110 | $1,110 |
Furniture, fixtures and equipment | 437,745 | 387,913 |
Buildings, building and leasehold improvements | 353,283 | 325,340 |
Total property and equipment | 792,138 | 714,363 |
Accumulated depreciation and amortization | -454,235 | -395,743 |
Property and equipment, net | $337,903 | $318,620 |
Accrued_Expenses_Details
Accrued Expenses (Details) (USD $) | Jan. 31, 2015 | Feb. 01, 2014 |
In Thousands, unless otherwise specified | ||
Payables and Accruals [Abstract] | ||
Gift cards and merchandise credits | $40,313 | $37,651 |
Compensation | 11,317 | 18,043 |
Taxes | 16,798 | 13,581 |
Customer loyalty program | 14,788 | 19,547 |
Other(1) | 29,964 | 26,875 |
Total accrued expenses | $113,180 | $115,697 |
NonCurrent_Liabilities_Details
Non-Current Liabilities (Details) (USD $) | 12 Months Ended | |
Jan. 31, 2015 | Feb. 01, 2014 | |
Other Liabilities Disclosure [Abstract] | ||
Other Asset Impairment Charges | $10,900,000 | |
Construction and tenant allowances | 85,244,000 | 84,464,000 |
Deferred rent | 38,021,000 | 37,985,000 |
Other(1) | 20,068,000 | 15,849,000 |
Total non-current liabilities | $143,333,000 | $138,298,000 |
Leases_Details
Leases (Details) (USD $) | 12 Months Ended | ||
Jan. 31, 2015 | Feb. 01, 2014 | Feb. 02, 2013 | |
Operating Leased Assets [Line Items] | |||
Number of Stores | 431 | ||
Operating Leases, Rent Expense, Net [Abstract] | |||
Total | $188,459,000 | $177,727,000 | $166,418,000 |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 183,635,000 | ||
Operating Leases, Future Minimum Payments, Due in Two Years | 172,263,000 | ||
Operating Leases, Future Minimum Payments, Due in Three Years | 151,361,000 | ||
Operating Leases, Future Minimum Payments, Due in Four Years | 130,171,000 | ||
Operating Leases, Future Minimum Payments, Due in Five Years | 112,854,000 | ||
Operating Leases, Future Minimum Payments, Due Thereafter | 378,699,000 | ||
Operating Leases, Future Minimum Payments Due | 1,128,983,000 | ||
Operating Leases, Future Minimum Payments, Sublease Rental Income Reduction | 1,400,000 | ||
Unrelated Party [Member] | |||
Operating Leases, Rent Expense, Net [Abstract] | |||
Operating Leases, Rent Expense, Contingent Rentals | 31,499,000 | 29,639,000 | 26,502,000 |
Operating Leases, Rent Expense, Minimum Rentals | 147,771,000 | 137,602,000 | 127,061,000 |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 174,196,000 | ||
Operating Leases, Future Minimum Payments, Due in Two Years | 163,308,000 | ||
Operating Leases, Future Minimum Payments, Due in Three Years | 143,153,000 | ||
Operating Leases, Future Minimum Payments, Due in Four Years | 125,780,000 | ||
Operating Leases, Future Minimum Payments, Due in Five Years | 109,039,000 | ||
Operating Leases, Future Minimum Payments, Due Thereafter | 371,577,000 | ||
Operating Leases, Future Minimum Payments Due | 1,087,053,000 | ||
Schottenstein Affiliates [Member] | |||
Operating Leased Assets [Line Items] | |||
Number of Stores | 19 | ||
Operating Leases, Rent Expense, Net [Abstract] | |||
Operating Leases, Rent Expense, Minimum Rentals | 9,189,000 | 10,486,000 | 12,855,000 |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 9,439,000 | ||
Operating Leases, Future Minimum Payments, Due in Two Years | 8,955,000 | ||
Operating Leases, Future Minimum Payments, Due in Three Years | 8,208,000 | ||
Operating Leases, Future Minimum Payments, Due in Four Years | 4,391,000 | ||
Operating Leases, Future Minimum Payments, Due in Five Years | 3,815,000 | ||
Operating Leases, Future Minimum Payments, Due Thereafter | 7,122,000 | ||
Operating Leases, Future Minimum Payments Due | 41,930,000 | ||
Annual Rental Income, Related Party | 200,000 | ||
Rental Income, Related Party | $100,000 | $200,000 | $100,000 |
Benefit_Plans_Pension_Plan_Det
Benefit Plans Pension Plan (Details) (USD $) | 12 Months Ended | |||
Jan. 31, 2015 | Feb. 01, 2014 | Feb. 02, 2013 | Jan. 28, 2012 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax | ($8,935,000) | $413,000 | ||
Schedule of adjustments made to other comprehensive income (loss) [Roll Forward] | ||||
Accumulated Other Comprehensive (Income) Loss, Beginning Balance | -8,758,000 | -8,486,000 | ||
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Tax | 0 | 5,289,000 | 839,000 | |
Other Comprehensive Income, Other, Net of Tax | -177,000 | -413,000 | ||
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax | 141,000 | |||
Accumulated Other Comprehensive (Income) Loss, Ending Balance | 0 | -8,758,000 | ||
Change in plan assets [Roll Forward] | ||||
Projected benefit obligation at beginning of year | 0 | 23,005,000 | ||
Interest cost | 843,000 | 919,000 | ||
Benefits paid | -23,218,000 | |||
(Gain) on Settlement of Pension | -270,000 | |||
Actuarial gain | -360,000 | |||
Projected benefit obligation at end of year | 0 | 23,005,000 | ||
Fair market value at beginning of year | 0 | 18,461,000 | ||
Actual loss on plan assets | -97,000 | |||
Employer contributions | 5,027,000 | |||
Benefits paid | -23,218,000 | |||
Other | -173,000 | |||
Fair market value at end of year | 0 | 18,461,000 | ||
Components of net periodic benefit cost [Abstract] | ||||
Interest cost | 843,000 | 919,000 | ||
Expected return on plan assets | -808,000 | -1,208,000 | ||
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements | 14,224,000 | 67,000 | ||
Amortization of net loss | 494,000 | 398,000 | ||
Defined Benefit Plan, Net Periodic Benefit Cost | 14,753,000 | 176,000 | ||
Amounts recognized in net period cost and other comprehensive income loss [Abstract] | ||||
Net actuarial loss | 671,000 | 1,717,000 | ||
Other Comprehensive Income (Loss), Finalization of Pension and Other Postretirement Benefit Plan Valuation, before Tax | -14,224,000 | -67,000 | ||
Amortization of net loss | -494,000 | -398,000 | ||
Total recognized in other comprehensive (income) loss | -14,047,000 | 1,252,000 | ||
Defined Benefit Plan, Net Periodic Benefit Cost | 14,753,000 | 176,000 | ||
Total recognized in net periodic benefit cost and other comprehensive income | 706,000 | 1,428,000 | ||
Pension Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Pension Contributions | 5,000,000 | |||
Pension Expense | 8,900,000 | |||
Schedule of adjustments made to other comprehensive income (loss) [Roll Forward] | ||||
Settlement of pension | 14,224,000 | 0 | ||
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Tax | -5,289,000 | 0 | ||
Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Schedule of adjustments made to other comprehensive income (loss) [Roll Forward] | ||||
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax | $0 | $141,000 |
Benefit_Plans_Other_Benefit_Pl
Benefit Plans Other Benefit Plans (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Jan. 31, 2015 | Feb. 01, 2014 | Feb. 02, 2013 |
Defined Benefit Plan Disclosure [Line Items] | |||
Description of Defined Contribution Pension and Other Postretirement Plans | As of the first day of the month following an employee’s completion of six months and 500 hours of service as defined under the terms of the 401(k) Plan, the Company matches employee deferrals, 100% on the first 3% of eligible compensation deferred and 50% on the next 2% of eligible compensation deferred. | ||
Defined Contribution Plan, Cost Recognized | $3.20 | $3.10 | $2.40 |
Deferred Compensation Liability, Classified, Noncurrent | $2.20 | $2.30 |
Commitments_and_Contingencies_
Commitments and Contingencies (Details) (USD $) | Jan. 31, 2015 |
In Millions, unless otherwise specified | |
Contractual Obligations [Abstract] | |
Purchase Commitment, Remaining Minimum Amount Committed | $6.90 |
Unrecorded Unconditional Purchase Obligation, Due within Two Years | 2.6 |
New store locations for which lease agreements signed, number | 34 |
Operating Leases, future minimum payments due, current, new stores | 9.6 |
Incentive to Lessee | $13.60 |
Commitments_and_Contingencies_1
Commitments and Contingencies Guarantees and Liabilities related to Discontinued Operations (Details) (2011 Syms and Filene's Bankruptcy [Member], USD $) | Jan. 31, 2015 | Feb. 02, 2013 | Jan. 28, 2012 |
In Millions, unless otherwise specified | |||
2011 Syms and Filene's Bankruptcy [Member] | |||
Syms and Filene's Basement Bankruptcy [Abstract] | |||
Estimated guarantee liability | $3.10 | $7 | $9 |
Commitments_and_Contingencies_2
Commitments and Contingencies Legal Proceedings (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Jan. 31, 2015 | Feb. 02, 2013 |
Gain (Loss) Related to Litigation Settlement [Abstract] | ||
DSW loss | $6 | |
Insurance Claims [Member] | ||
Gain (Loss) Related to Litigation Settlement [Abstract] | ||
Loss Contingency, Damages Sought, Value | 6.8 | |
Received insurance carrier | 7.2 | |
Accrued Interest | 1.9 | |
Interest Income, Operating | 1.9 | |
Other Operating Income (Expense), Net | $5.30 |
Segment_Reporting_Details
Segment Reporting (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Jan. 31, 2015 | Nov. 01, 2014 | Aug. 02, 2014 | 3-May-14 | Feb. 01, 2014 | Nov. 02, 2013 | Aug. 03, 2013 | 4-May-13 | Jan. 31, 2015 | Feb. 01, 2014 | Feb. 02, 2013 |
Segment information [Abstract] | |||||||||||
Net sales | $640,177 | $669,872 | $587,096 | $598,947 | $572,267 | $632,976 | $562,063 | $601,362 | $2,496,092 | $2,368,668 | $2,257,778 |
Total assets | 1,438,243 | 1,421,244 | 1,438,243 | 1,421,244 | |||||||
Goodwill | 25,899 | 25,899 | 25,899 | 25,899 | |||||||
Number of Reportable Segments | 2 | ||||||||||
DSW [Member] | |||||||||||
Segment information [Abstract] | |||||||||||
Net sales | 2,352,464 | 2,230,996 | 2,125,262 | ||||||||
Gross profit | 726,630 | 710,972 | 696,854 | ||||||||
Capital Expenditures | 90,215 | 83,231 | 99,326 | ||||||||
Total assets | 1,263,577 | 1,340,629 | 1,263,577 | 1,340,629 | |||||||
Affiliated Business Group segment [Member] | |||||||||||
Segment information [Abstract] | |||||||||||
Net sales | 143,628 | 137,672 | 132,516 | ||||||||
Gross profit | 28,391 | 28,315 | 27,866 | ||||||||
Capital Expenditures | 3,099 | 569 | 426 | ||||||||
Total assets | 104,897 | 80,221 | 104,897 | 80,221 | |||||||
Other [Member] | |||||||||||
Segment information [Abstract] | |||||||||||
Net sales | 0 | 0 | 0 | ||||||||
Gross profit | 0 | 0 | 0 | ||||||||
Capital Expenditures | 0 | 0 | 0 | ||||||||
Total assets | 69,769 | 394 | 69,769 | 394 | |||||||
Operating Segments [Member] | |||||||||||
Segment information [Abstract] | |||||||||||
Net sales | 2,496,092 | 2,368,668 | 2,257,778 | ||||||||
Gross profit | 755,021 | 739,287 | 724,720 | ||||||||
Capital Expenditures | 93,314 | 83,800 | 99,752 | ||||||||
Total assets | $1,438,243 | $1,421,244 | $1,438,243 | $1,421,244 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Jan. 31, 2015 | Nov. 01, 2014 | Aug. 02, 2014 | 3-May-14 | Feb. 01, 2014 | Nov. 02, 2013 | Aug. 03, 2013 | 4-May-13 | Jan. 31, 2015 | Feb. 01, 2014 | Feb. 02, 2013 |
Current: | |||||||||||
Federal | $80,205 | $36,407 | $14,070 | ||||||||
Current Foreign Tax Expense (Benefit) | 717 | 22 | 0 | ||||||||
State and local | 16,152 | 14,817 | 9,193 | ||||||||
Total current tax expense | 97,074 | 51,246 | 23,263 | ||||||||
Deferred: | |||||||||||
Federal | -1,616 | 42,557 | 70,158 | ||||||||
State and local | 255 | -1,098 | 2,006 | ||||||||
Total deferred tax expense | -1,361 | 41,459 | 72,164 | ||||||||
Income tax provision | 19,527 | 31,792 | 20,824 | 23,570 | 17,521 | 34,331 | 20,742 | 20,111 | 95,713 | 92,705 | 95,427 |
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract] | |||||||||||
Income tax expense at federal statutory rate | 87,059 | 85,402 | 84,215 | ||||||||
State and local taxes-net | 8,808 | 8,532 | 7,631 | ||||||||
Warrants | 0 | 0 | 2,142 | ||||||||
Other | -154 | -1,229 | 1,439 | ||||||||
Income tax provision | 19,527 | 31,792 | 20,824 | 23,570 | 17,521 | 34,331 | 20,742 | 20,111 | 95,713 | 92,705 | 95,427 |
Deferred Tax Assets, Net, Classification [Abstract] | |||||||||||
Current deferred tax assets | 19,747 | 18,130 | 19,747 | 18,130 | |||||||
Non-current deferred tax assets | 11,332 | 11,587 | 11,332 | 11,587 | |||||||
Deferred tax assets: | |||||||||||
State net operating loss and tax credits | 701 | 332 | 701 | 332 | |||||||
Inventory | 7,562 | 5,826 | 7,562 | 5,826 | |||||||
Construction and tenant allowances | 6,074 | 7,441 | 6,074 | 7,441 | |||||||
Stock-based compensation | 9,624 | 7,457 | 9,624 | 7,457 | |||||||
Benefit from uncertain tax positions | 100 | 58 | 100 | 58 | |||||||
Guarantees | 1,185 | 1,347 | 1,185 | 1,347 | |||||||
Accrued expenses | 1,890 | 961 | 1,890 | 961 | |||||||
Accrued rewards | 5,918 | 7,756 | 5,918 | 7,756 | |||||||
Accrued rent | 15,395 | 14,790 | 15,395 | 14,790 | |||||||
Other | 14,317 | 13,068 | 14,317 | 13,068 | |||||||
Total deferred tax assets, gross of valuation allowance | 62,766 | 59,036 | 62,766 | 59,036 | |||||||
Less: valuation allowance | -1,246 | -860 | -1,246 | -860 | |||||||
Total deferred tax assets, net of valuation allowance | 61,520 | 58,176 | 61,520 | 58,176 | |||||||
Deferred tax liabilities: | |||||||||||
Property and equipment | -27,236 | -24,214 | -27,236 | -24,214 | |||||||
Prepaid expenses | -1,113 | -957 | -1,113 | -957 | |||||||
Other | -2,092 | -3,288 | -2,092 | -3,288 | |||||||
Total deferred tax liabilities | -30,441 | -28,459 | -30,441 | -28,459 | |||||||
Total – net deferred tax asset | $31,079 | $29,717 | $31,079 | $29,717 |
Income_Taxes_Income_Tax_Contin
Income Taxes Income Tax Contingencies (Details) (USD $) | 12 Months Ended | ||
Jan. 31, 2015 | Feb. 01, 2014 | Feb. 02, 2013 | |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $3,400,000 | $1,800,000 | $1,300,000 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized Tax Benefits, Beginning Balance | 1,838,000 | 1,253,000 | 2,315,000 |
Settlements during the year | 1,621,000 | 1,184,000 | 400,000 |
Unrecognized Tax Benefits, Period Increase (Decrease) | 0 | -69,000 | -345,000 |
Reductions for tax positions taken in prior years: | 0 | -530,000 | -755,000 |
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities | -73,000 | 0 | -362,000 |
Unrecognized Tax Benefits, Ending Balance | 3,386,000 | 1,838,000 | 1,253,000 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued [Abstract] | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | $500,000 | $200,000 |
Quarterly_Financial_Data_Unaud2
Quarterly Financial Data (Unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Jan. 31, 2015 | Nov. 01, 2014 | Aug. 02, 2014 | 3-May-14 | Feb. 01, 2014 | Nov. 02, 2013 | Aug. 03, 2013 | 4-May-13 | Jan. 31, 2015 | Feb. 01, 2014 | Feb. 02, 2013 |
Selected Quarterly Financial Information [Abstract] | |||||||||||
Net sales | $640,177 | $669,872 | $587,096 | $598,947 | $572,267 | $632,976 | $562,063 | $601,362 | $2,496,092 | $2,368,668 | $2,257,778 |
Cost of sales | -463,622 | -451,315 | -415,192 | -410,942 | -412,289 | -420,106 | -378,621 | -418,365 | -1,741,071 | -1,629,381 | -1,533,058 |
Operating expenses | -128,681 | -138,860 | -118,594 | -126,754 | -115,113 | -124,614 | -129,461 | -128,711 | -512,889 | -497,899 | -481,797 |
Operating profit | 47,874 | 79,697 | 53,310 | 61,251 | 44,865 | 88,256 | 53,981 | 54,286 | 242,132 | 241,388 | 236,802 |
Interest income, net | 602 | 600 | 635 | 958 | 762 | 1,036 | 481 | 340 | 2,795 | 2,619 | 3,811 |
Income from continuing operations before income taxes and income from Town Shoes | 48,476 | 80,297 | 53,945 | 62,209 | 45,627 | 89,292 | 54,462 | 54,626 | 244,927 | 244,007 | 240,613 |
Income tax provision | -19,527 | -31,792 | -20,824 | -23,570 | -17,521 | -34,331 | -20,742 | -20,111 | -95,713 | -92,705 | -95,427 |
Income from Town Shoes | 1,915 | 1,049 | 849 | 0 | 3,813 | 0 | 0 | ||||
Income from continuing operations, net of tax | 30,864 | 49,554 | 33,970 | 38,639 | 28,106 | 54,961 | 33,720 | 34,515 | 153,027 | 151,302 | 145,186 |
Income from discontinued operations, net of tax | -86 | 0 | 358 | 0 | 272 | 0 | 1,253 | ||||
Net income | $30,778 | $49,554 | $34,328 | $38,639 | $153,299 | $151,302 | $146,439 | ||||
Diluted earnings per share [Abstract] | |||||||||||
Diluted earnings per share from continuing operations | $1.69 | $1.65 | $1.60 | ||||||||
Diluted earnings per share from discontinued operations | $0 | $0 | $0.01 | ||||||||
Diluted earnings per share | $0.34 | $0.55 | $0.38 | $0.42 | $0.30 | $0.60 | $0.37 | $0.38 | $1.69 | $1.65 | $1.62 |
Subsequent_Event_Details
Subsequent Event (Details) (USD $) | 9 Months Ended | 12 Months Ended |
Nov. 01, 2014 | Jan. 31, 2015 | |
Subsequent Events [Abstract] | ||
Dividends Payable, Date to be Paid | 31-Mar-15 | |
Dividends Payable, Date Declared | 17-Feb-15 | |
Common Stock, Dividends, Per Share, Declared | $0.19 | $0.20 |
Dividends Payable, Date of Record | 20-Mar-15 |