Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Oct. 28, 2017 | Nov. 17, 2017 | |
Class of Stock [Line Items] | ||
Entity Registrant Name | DSW Inc. | |
Entity Central Index Key | 1,319,947 | |
Current Fiscal Year End Date | --02-03 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Oct. 28, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Voluntary Filers | No | |
Entity Current Reporting Status | Yes | |
Class A Common Shares | ||
Class of Stock [Line Items] | ||
Entity Common Stock, Shares Outstanding | 72,265,496 | |
Class B Common Shares | ||
Class of Stock [Line Items] | ||
Entity Common Stock, Shares Outstanding | 7,732,786 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 28, 2017 | Oct. 29, 2016 | Oct. 28, 2017 | Oct. 29, 2016 | |
Net sales | $ 708,308 | $ 696,616 | $ 2,079,819 | $ 2,036,827 |
Cost of sales | (501,591) | (484,836) | (1,480,901) | (1,433,829) |
Operating expenses | (151,772) | (147,412) | (454,093) | (446,696) |
Goodwill and Intangible Asset Impairment | (82,701) | 0 | (82,701) | 0 |
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | 31,178 | (1,469) | 28,926 | (5,080) |
Operating profit | 3,422 | 62,899 | 91,050 | 151,222 |
Interest expense | (166) | (57) | (260) | (156) |
Interest income | 768 | 539 | 2,084 | 1,782 |
Interest income, net | 602 | 482 | 1,824 | 1,626 |
Nonoperating Income (Expense) | (121) | 80 | (2,304) | 344 |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | 3,903 | 63,461 | 90,570 | 153,192 |
Income tax provision | (1,496) | (25,626) | (35,510) | (60,420) |
Income from Town Shoes | 1,630 | 1,128 | 543 | 1,237 |
Net income | $ 4,037 | $ 38,963 | $ 55,603 | $ 94,009 |
Basic and diluted earnings (loss) per share [Abstract]: | ||||
Basic earnings per share | $ 0.05 | $ 0.48 | $ 0.69 | $ 1.15 |
Diluted earnings per share | $ 0.05 | $ 0.47 | $ 0.69 | $ 1.14 |
Shares used in per share calculations [Abstract]: | ||||
Basic shares | 80,112 | 82,026 | 80,215 | 82,011 |
Diluted shares | 80,647 | 82,537 | 80,699 | 82,643 |
Condensed Consolidated Comprehe
Condensed Consolidated Comprehensive Income Statement - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 28, 2017 | Oct. 29, 2016 | Oct. 28, 2017 | Oct. 29, 2016 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 4,037 | $ 38,963 | $ 55,603 | $ 94,009 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | (7,343) | (2,537) | (806) | 4,709 |
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | (182) | (173) | (149) | 103 |
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent | (26) | 0 | 2,081 | 0 |
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent | (7,551) | (2,710) | 1,126 | 4,812 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $ (3,514) | $ 36,253 | $ 56,729 | $ 98,821 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Oct. 28, 2017 | Jan. 28, 2017 | Oct. 29, 2016 |
Assets [Abstract]: | |||
Cash and cash equivalents | $ 149,485 | $ 110,657 | $ 60,962 |
Short-term investments | 180,066 | 98,530 | 78,512 |
Accounts receivable | 19,102 | 18,456 | 20,334 |
Accounts receivable from related parties | 1,315 | 550 | 1,029 |
Inventories | 546,553 | 499,995 | 562,701 |
Prepaid expenses and other current assets | 25,445 | 31,074 | 24,566 |
Prepaid expenses to related parties | 0 | 4 | 13 |
Total current assets | 921,966 | 759,266 | 748,117 |
Property and equipment, net | 358,154 | 375,251 | 381,218 |
Long-term investments | 0 | 77,904 | 76,126 |
Goodwill | 25,899 | 79,689 | 77,208 |
Deferred income taxes | 35,284 | 14,934 | 21,103 |
Prepaid expenses to related parties, non-current | 688 | 768 | 795 |
Equity Method Investments | 7,180 | 15,830 | 17,996 |
Notes Receivable, Related Parties, Noncurrent | 60,249 | 53,121 | 50,579 |
Intangible Assets, Net (Excluding Goodwill) | 3,135 | 35,108 | 38,243 |
Other assets | 19,023 | 16,605 | 20,530 |
Total assets | 1,431,578 | 1,428,476 | 1,431,915 |
Liabilities and Shareholders' equity [Abstract]: | |||
Accounts payable | 193,607 | 185,497 | 160,621 |
Accounts payable to related parties | 706 | 774 | 641 |
Accrued expenses | 141,990 | 130,334 | 143,653 |
Total current liabilities | 336,303 | 316,605 | 304,915 |
Non-current liabilities | 141,752 | 141,179 | 144,654 |
Business Combination, Contingent Consideration, Liability | 4,962 | 33,204 | 58,923 |
Liabilities | 483,017 | 490,988 | 508,492 |
Commitments and Contingencies | |||
Shareholders’ equity [Abstract]: | |||
Common Stock, Value, Issued | 957,960 | 946,351 | 941,485 |
Preferred shares, no par value; 100,000 authorized; no shares issued or outstanding | 0 | 0 | 0 |
Treasury Stock, Value | (325,906) | (316,531) | (309,229) |
Retained earnings | 354,315 | 346,602 | 332,051 |
Basis Difference Related to Acquisition of Commonly Controlled Entity | (24,993) | (24,993) | (24,993) |
Accumulated other comprehensive loss | (12,815) | (13,941) | (15,891) |
Total shareholders' equity | 948,561 | 937,488 | 923,423 |
Total liabilities and shareholders' equity | $ 1,431,578 | $ 1,428,476 | $ 1,431,915 |
Condensed Consolidated Balance5
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands, $ / shares in Thousands | Oct. 28, 2017 | Jan. 28, 2017 | Oct. 29, 2016 |
Shareholders' equity [Abstract]: | |||
Preferred Shares, par value (in dollars per share) | $ 0 | $ 0 | $ 0 |
Preferred Shares, authorized (in shares) | 100,000 | 100,000 | 100,000 |
Preferred Shares, issued (in shares) | 0 | 0 | 0 |
Preferred Shares, outstanding (in shares) | 0 | 0 | 0 |
Class A Common Shares | |||
Shareholders' equity [Abstract]: | |||
Common Shares, par value (in dollars per share) | $ 0 | $ 0 | $ 0 |
Common Shares, authorized (in shares) | 250,000 | 250,000 | 250,000 |
Common Shares, issued (in shares) | 85,346 | 85,038 | 84,875 |
Common Shares, outstanding (in shares) | 72,255 | 72,447 | 72,635 |
Class B Common Shares | |||
Shareholders' equity [Abstract]: | |||
Common Shares, par value (in dollars per share) | $ 0 | $ 0 | $ 0 |
Common Shares, authorized (in shares) | 100,000 | 100,000 | 100,000 |
Common Shares, issued (in shares) | 7,733 | 7,733 | 7,733 |
Common Shares, outstanding (in shares) | 7,733 | 7,733 | 7,733 |
Treasury Stock [Member] | |||
Shareholders' equity [Abstract]: | |||
Treasury Stock, Shares | 13,091 | 12,591 | 12,240 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Oct. 28, 2017 | Oct. 29, 2016 | |
Cash flows from operating activities: | ||
Net income | $ 55,603 | $ 94,009 |
Adjustments to reconcile net income (loss) to net cash and equivalents provided by operating activities from continuing operations: | ||
Depreciation and amortization | 61,444 | 61,029 |
Share-based Compensation | 11,339 | 10,156 |
Deferred income taxes | (20,381) | 712 |
Loss from Town Shoes | (543) | (1,237) |
Goodwill and Intangible Asset Impairment | 82,701 | 0 |
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | (28,926) | 5,080 |
Loss on disposal of long-lived assets | 1,050 | 699 |
Foreign Currency Transaction Gain (Loss), before Tax | 2,186 | 0 |
Investment Income, Net, Amortization of Discount and Premium | 481 | 992 |
Change in working capital, other assets and liabilities: | ||
Accounts receivable | (1,411) | (4,276) |
Inventories | (46,558) | (48,313) |
Prepaid expenses and other current assets | 979 | 11,318 |
Accounts payable | 8,790 | (55,572) |
Accrued expenses | 10,598 | 32,570 |
Other | 1,224 | 3,592 |
Net Cash Provided by (Used in) Operating Activities | 138,576 | 110,759 |
Cash flows from investing activities: | ||
Cash paid for property and equipment | (39,552) | (73,157) |
Purchases of available-for-sale investments | (98,855) | (69,960) |
Sales of available-for-sale investments | 96,649 | 215,524 |
Origination of Notes Receivable from Related Parties | (5,689) | (7,023) |
Payments to Acquire Businesses, Net of Cash Acquired | 0 | (59,481) |
Net Cash Provided by (Used in) Investing Activities | (47,447) | 5,903 |
Cash flows from financing activities: | ||
Proceeds from exercise of stock options | 1,133 | 3,615 |
Proceeds from (Payments for) Other Financing Activities | 1,058 | 0 |
Payments of Debt Issuance Costs | (1,018) | 0 |
Payments Related to Tax Withholding for Share-based Compensation | (863) | (2,421) |
Payments for Repurchase of Common Stock | (9,375) | (42,698) |
Dividends paid | (47,890) | (49,098) |
Net Cash Provided by (Used in) Financing Activities, Continuing Operations | (56,955) | (90,602) |
Net increase in cash, cash equivalents, and restricted cash | 34,174 | 26,060 |
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of period | 115,311 | 40,171 |
Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period | 149,485 | 66,231 |
Supplemental disclosures of cash flow information: | ||
Cash paid during the period for income taxes | 64,441 | 40,057 |
Non-cash operating, investing and financing activities: | ||
Balance of accounts payable and accrued expenses due to property and equipment purchases | 7,138 | 4,829 |
Preliminary Business Combination, Contingent Consideration Liability | $ 0 | $ 53,843 |
Business Operations and Basis o
Business Operations and Basis of Presentation | 9 Months Ended |
Oct. 28, 2017 | |
Business Operations and Basis of Presentation [Abstract] | |
Business Description and Basis of Presentation [Text Block] | BUSINESS OPERATIONS AND BASIS OF PRESENTATION Business Operations- DSW Inc., an Ohio corporation, together with its wholly-owned subsidiaries, is the destination for fabulous footwear brands and accessories at a great value every single day. We offer a wide assortment of brand name dress, casual and athletic footwear and accessories for women, men and kids. We conduct business in two reportable segments: the DSW segment ("DSW"), which includes DSW stores and dsw.com, and the Affiliated Business Group ("ABG") segment. The ABG segment partners with three other retailers to help build and optimize their in-store and online footwear businesses. ABG supplies merchandise for the shoe departments of Stein Mart, Gordmans, and Frugal Fannie's. On March 13, 2017 , Gordmans filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code and announced its plan to liquidate inventory and other assets. Stage Stores, Inc. acquired 58 of the Gordmans' stores and we have signed an agreement to provide services for these stores through the end of fiscal 2017. We also have an equity investment in Town Shoes Limited ("Town Shoes"). Town Shoes is the market leader in Canada for the sale of branded footwear offered in stores and on e-commerce sites under the banners of The Shoe Company, Shoe Warehouse, Town Shoes and DSW. During fiscal 2016, we completed several transactions that supported our efforts to grow market share within footwear and accessories domestically and internationally. On March 4, 2016 , we acquired Ebuys, Inc. ("Ebuys"), a leading off price footwear and accessories retailer operating in digital marketplaces. Ebuys sells products to customers located in North America, Europe, Australia and Asia. On August 2, 2016, we signed an agreement with the Apparel Group as an exclusive franchise partner in the Gulf Coast region of the Middle East. Under this franchise agreement, the first two franchise stores opened during fiscal 2017. Basis of Presentation- The accompanying unaudited, condensed consolidated financial statements have been prepared by management in accordance with accounting principles generally accepted in the United States ("GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, we do not include all of the information and footnotes required by GAAP for complete financial statements. The accompanying financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. All such adjustments are of a normal recurring nature. The condensed consolidated financial position, results of operations and cash flows for these interim periods are not necessarily indicative of the results that may be expected in future periods. The balance sheet at January 28, 2017 has been derived from the audited financial statements at that date. The financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in our Annual Report on Form 10-K for the fiscal year ended January 28, 2017 , filed with the U.S. Securities and Exchange Commission on March 23, 2017. Fiscal Year- Our fiscal year ends on the Saturday nearest to January 31. References to a fiscal year refer to the calendar year in which the fiscal year begins. |
Acquisition and Equity Method I
Acquisition and Equity Method Investment | 9 Months Ended |
Oct. 28, 2017 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | ACQUISITION AND EQUITY INVESTMENT Acquisition of Ebuys- On March 4, 2016 , we acquired 100% ownership of Ebuys for cash and future amounts to be paid to the sellers of Ebuys contingent upon achievement of certain milestones. During fiscal 2016 , we had purchase price adjustments based on working capital adjustments and measurement period adjustments of the contingent consideration liability, based on additional information about facts and circumstances that existed at the acquisition date that were obtained after that date. We also made various measurement period adjustments for the assets and liabilities acquired. The preliminary and final purchase price and the allocation of the total consideration to the fair values of the assets and liabilities acquired consisted of the following: Preliminary Purchase Price as of March 4, 2016 Adjustments Final Purchase Price as of January 28, 2017 (in thousands) Purchase price: Cash consideration $ 60,411 $ (635 ) $ 59,776 Contingent consideration 56,000 (2,645 ) 53,355 $ 116,411 $ (3,280 ) $ 113,131 Fair value of assets and liabilities acquired: Accounts and other receivables $ 1,623 $ (287 ) $ 1,336 Inventory 30,152 18 30,170 Other current assets 191 335 526 Property and equipment 1,221 22 1,243 Goodwill 54,785 (995 ) 53,790 Intangible assets 41,301 (2,600 ) 38,701 Accounts payable and other long-term liabilities (12,862 ) 227 (12,635 ) $ 116,411 $ (3,280 ) $ 113,131 The final fair value of intangible assets includes $22.3 million for online retailer and customer relationships based on using the excess earnings method, $11.0 million for tradenames based on using the relief from royalty method, and $5.4 million for non-compete agreements based on using the with-and-without method. The categorization of the fair value framework used for these methods are considered Level 3 due to the subjective nature of the unobservable inputs used to determine the fair value. The goodwill represents the intangible assets that do not qualify for separate recognition and is primarily the result of expected synergies, vertical integration as a market for selling aged inventory, online presence, and the acquired workforce. Goodwill related to this acquisition is deductible for income tax purposes. Equity Investment in Town Shoes- In May 2014, we acquired a 49.2% interest in Town Shoes for $75.1 million Canadian dollars ("CAD") ( $68.9 million United States dollars ("USD")), which included the purchase of an unsecured subordinated note from Town Shoes issued on February 14, 2012 that earns payment-in-kind interest at 12% and matures on February 14, 2022. As of October 28, 2017 , our ownership percentage was 46.3% . The dilution of our ownership is due to Town Shoes' employee exercise of stock options. Our ownership stake provides 50% voting control and board representation equal to the co-investor. Additionally, the Town Shoes co-investor holds a put option to sell the remaining interest in Town Shoes in fiscal 2017 to the Company and for the subsequent two years. We hold a call option to purchase the remaining interest in Town Shoes in fiscal 2018, and for the subsequent two years, if the Town Shoes co-investor has not exercised their put option. During fiscal 2015, we invested $100 million CAD in available-for-sale securities denominated in CAD in anticipation of funding the future purchase of the remaining interest in Town Shoes. As of October 28, 2017 , these available-for-sale securities are classified as short-term investments based on management's intent to exercise the call option to purchase the remaining interest in Town Shoes in the first half of fiscal 2018. |
Significant Accounting Policies
Significant Accounting Policies | 9 Months Ended |
Oct. 28, 2017 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | SIGNIFICANT ACCOUNTING POLICIES Accounting Policies - The complete summary of significant accounting policies is included in the notes to the consolidated financial statements as presented in our Annual Report on Form 10-K for the fiscal year ended January 28, 2017 . 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 USD, unless otherwise noted. Use of Estimates- The preparation of financial statements in conformity with 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 sales returns, depreciation, amortization, inventory valuation, contingent consideration liability, customer loyalty program reserve, recoverability of long-lived assets and intangible assets, legal reserves, accrual for lease 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. Cash, Cash Equivalents, and Restricted Cash - Cash and cash equivalents represent cash, money market funds and credit card receivables that generally settle within three days. Restricted cash represents cash that is restricted as to withdrawal or usage and consisted of a mandatory cash deposit for outstanding letters of credit under our previous credit facility. The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statements of cash flows: October 28, 2017 January 28, 2017 October 29, 2016 (in thousands) Cash and cash equivalents $ 149,485 $ 110,657 $ 60,962 Restricted cash, included in prepaid expenses and other current assets — 4,654 5,269 Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows $ 149,485 $ 115,311 $ 66,231 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. Assets and liabilities recorded at fair value are categorized using defined hierarchical levels related to the subjectivity associated with the inputs to fair value measurements as follows: • Level 1 - Quoted prices in active markets for identical assets or liabilities. • Level 2 - Quoted prices for similar assets or liabilities in active markets or inputs that are observable. • Level 3 - Unobservable inputs in which little or no market activity exists. Impairment of Long-Lived Assets- We periodically evaluate the carrying amount of our long-lived assets, primarily property and equipment and definite-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. The impairment loss recognized is the excess of the carrying value of the asset or asset group over its fair value. Due to recurring operating losses incurred by Ebuys since its acquisition as well as increased competitive pressures in the digital marketplaces, we revised our growth expectations assumed at the time of the acquisition and have moderated future expectations for the business. As a result, during the three months ended October 28, 2017 , we undertook a review of the carrying amount of Ebuys’ intangible assets and recorded intangible assets impairment charges of $28.9 million in the accompanying condensed consolidated statements of operations. Goodwill- We evaluate goodwill for impairment annually during our fourth quarter, or more frequently if an event occurs or circumstances change, such as material deterioration in performance or a significant and sustained decline in our stock price, that would indicate that impairment may exist. When evaluating goodwill for impairment, we may first perform a qualitative assessment to determine whether it is more likely than not that a reporting unit is impaired. If we do not perform a qualitative assessment, or if we determine that it is more likely than not that the carrying value of the reporting unit exceeds its fair value, we will calculate the estimated fair value of the reporting unit. Fair value is the price a willing buyer would pay for the reporting unit and is typically calculated using a discounted cash flow analysis. For certain reporting units, where deemed appropriate, we may also utilize a market approach for estimating fair value. In the third quarter of fiscal 2017, we early adopted the Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") 2017-04, Simplifying the Accounting for Goodwill Impairment , which simplifies the subsequent measurement of goodwill by eliminating the requirement to determine the implied fair value of goodwill to measure an impairment of goodwill. Rather, goodwill impairment charges are calculated as the amount by which a reporting unit's carrying amount exceeds its fair value. Due to recurring operating losses incurred by Ebuys since its acquisition as well as increased competitive pressures in the digital marketplaces, we revised our growth expectations assumed at the time of the acquisition and have moderated future expectations for the business. As a result, during the three months ended October 28, 2017 , we undertook a review of the carrying amount of Ebuys, which included goodwill and reflected the impact of the intangible assets impairment charges. We utilized a discounted cash flow analysis to determine the implied fair value of Ebuys, which was then compared with its carrying value, resulting in a goodwill impairment charge of $53.8 million . Share Repurchase Program- On August 17, 2017 , the Board of Directors authorized the repurchase of an additional $500 million of DSW Common Shares under our share repurchase program, which was added to the $33.5 million remaining from the previous authorization. During the nine months ended October 28, 2017 , we repurchased 0.5 million Class A Common Shares at a cost of $9.4 million , with $524.1 million of Class A Common Shares that remain authorized under the program. The share repurchase program may be suspended, modified or discontinued at any time, and we have no obligation to repurchase any amount of our common shares under the program. Shares will be repurchased in the open market at times and in amounts considered appropriate based on price and market conditions. Accumulated Other Comprehensive Income (Loss)- Changes for the balances of each component of accumulated other comprehensive loss were as follows (all amounts are net of tax): Nine months ended October 28, 2017 October 29, 2016 Foreign Currency Translation Available-for-Sale Securities Total Foreign Currency Translation Available-for-Sale Securities Total (in thousands) Accumulated other comprehensive loss - beginning of period $ (13,699 ) $ (242 ) $ (13,941 ) $ (20,530 ) $ (173 ) $ (20,703 ) Other comprehensive income (loss) before reclassifications (806 ) (149 ) (955 ) 4,709 103 4,812 Amounts reclassified to non-operating income 2,186 (105 ) 2,081 — — — Other comprehensive income (loss) 1,380 (254 ) 1,126 4,709 103 4,812 Accumulated other comprehensive loss - end of period $ (12,319 ) $ (496 ) $ (12,815 ) $ (15,821 ) $ (70 ) $ (15,891 ) Adopted Accounting Standards- In the first quarter of fiscal 2017, we adopted ASU 2016-09, Improvements to Employee Share-Based Payment Accounting , which eliminated the requirement to recognize excess tax benefits in common shares paid-in capital and the requirement to evaluate tax deficiencies for common shares paid-in capital or income tax expense classification, and provides for these benefits or deficiencies to be recorded as an income tax expense or benefit on a prospective basis. For the consolidated statements of cash flows, excess tax benefits related to stock-based compensation is no longer presented, on a retroactive basis, as a financing activity cash inflow and as an operating activity cash outflow. In the first quarter of fiscal 2017, we early adopted ASU 2016-18, Statement of Cash Flows - Restricted Cash, which requires that the consolidated statements of cash flows provides the change in the total of cash, cash equivalents, and restricted cash. As a result of this adoption, we no longer show the changes in restricted cash balance as a component of cash flows from investing activities but instead include the balance of restricted cash together with cash and cash equivalents for the beginning and end of the periods presented. As a result of adopting ASU 2016-09 and ASU 2016-18, we adjusted the statements of cash flows on a retroactive basis as follows: Nine Months Ended (in thousands) Net cash provided by operating activities, as previously reported $ 110,635 Eliminated the excess tax benefits related to stock-based compensation 124 Net cash provided by operating activities, as adjusted $ 110,759 Net cash provided by investing activities, as previously reported $ 8,310 Eliminated the decrease in restricted cash (2,407 ) Net cash provided by investing activities, as adjusted $ 5,903 Net cash used in financing activities, as previously reported $ (90,478 ) Eliminated the excess tax benefits related to stock-based compensation (124 ) Net cash used in financing activities, as adjusted $ (90,602 ) Net increase in cash and cash equivalents, as previously reported $ 28,467 Eliminated the impact of the decrease in restricted cash (2,407 ) Net increase in cash, cash equivalents, and restricted cash, as adjusted $ 26,060 Cash and cash equivalents, beginning of period, as previously reported $ 32,495 Included restricted cash 7,676 Cash, cash equivalents, and restricted cash, beginning of period, as adjusted $ 40,171 Cash and cash equivalents, end of period, as previously reported $ 60,962 Included restricted cash 5,269 Cash, cash equivalents, and restricted cash, end of period, as adjusted $ 66,231 Recent Accounting Pronouncements- In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers , which provides a single comprehensive accounting standard for revenue recognition for contracts with customers and supersedes current guidance. Under ASU 2014-09, 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 is effective for us in the first quarter of fiscal 2018, which we plan to adopt using the full retrospective method where each prior period presented is restated. We have completed an assessment identifying areas of impact to our financial statements, including sales returns, licensing arrangements, gift cards, and our loyalty and co-branded credit card programs. The adoption of the new standard will result in changes in classification between net sales, other revenues, cost of sales, and operating expenses. For income from breakage of gift cards, which is currently recognized as a reduction to operating expenses when the redemption of the gift card is deemed remote, the new standard will require classification within net sales recognized proportionately over the expected redemption period. Also upon adoption of the standard, we will no longer use the incremental cost method and record to cost of sales for our loyalty program, rather we will use a deferred revenue model. We do not expect the adoption of ASU 2014-09 will have a material impact to our reported net sales, operating profit, net income, shareholders’ equity or cash flows, with the primary impacts of adopting the new standard relating to changes in classification of amounts shown on the consolidated financial statements and additional disclosures. In February 2016, the FASB issued ASU 2016-02, Leases , which will change how lessees account for leases. For most leases, a liability will be recorded on the balance sheet based on the present value of future lease obligations with a corresponding right-of-use asset. Primarily for those leases currently classified by us as operating leases, we will recognize a single lease cost on a straight line basis based on the combined amortization of the lease obligation and the right-of-use asset. Other leases will be required to be accounted for as financing arrangements similar to current accounting for capital leases. Upon transition, we will recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The standard is effective for us in the first quarter of fiscal 2019 with early adoption permitted. We will not early adopt ASU 2016-02 and we expect the standard will have a material impact to our consolidated balance sheets. We are continuing to assess and evaluate the full impact of the standard on our financial statements and we are developing an implementation plan. |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Oct. 28, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | RELATED PARTY TRANSACTIONS Accounts receivable, accounts payable, and prepaid expenses associated with related parties are separately presented on the consolidated balance sheets. Accounts receivable from and payables to related parties normally settle in the form of cash in 30 to 60 days. Schottenstein Affiliates As of October 28, 2017 , the Schottenstein Affiliates, entities owned or controlled by Jay L. Schottenstein, the executive chairman of our Board of Directors, and members of his family, beneficially owned approximately 18% of the Company's outstanding Common Shares, representing approximately 51% of the combined voting power. As of October 28, 2017 , the Schottenstein Affiliates beneficially owned 7.1 million Class A Common Shares and 7.7 million Class B Common Shares. Leases with Related Parties- We lease our fulfillment center and certain store locations owned by Schottenstein Affiliates. During the three months ended October 28, 2017 and October 29, 2016 , we recorded rent expense from leases with Schottenstein Affiliates of $2.2 million and $2.0 million , respectively. During the nine months ended October 28, 2017 and October 29, 2016 , we recorded rent expense from leases with Schottenstein Affiliates of $6.8 million and $6.1 million , respectively. Basis Difference Related to Acquisition of Commonly Controlled Entity- The basis difference related to acquisition of commonly controlled entity balance, as shown on our consolidated balance sheets, relates to a legal entity acquisition in fiscal 2012 from certain Schottenstein affiliates. The legal entity owned property that was previously leased by us. As this was a transaction between entities under common control, there was no adjustment to the historical cost carrying amounts of assets transferred to the Company. The difference between the historical cost carrying amounts and the consideration transferred was reflected as an equity transaction. Other Purchases and Services- During the three months ended October 28, 2017 and October 29, 2016 , we had other purchases and services from Schottenstein Affiliates of $0.3 million and $0.4 million , respectively. During the nine months ended October 28, 2017 and October 29, 2016 , we had other purchases and services from Schottenstein Affiliates of $0.9 million and $0.9 million , respectively. Town Shoes As of October 28, 2017 , our ownership percentage in Town Shoes was 46.3% , which provides us a 50% voting control and board representation equal to the co-investor, and is treated as an equity investment. Management Agreement- We have a management agreement with Town Shoes under which we provide certain information technology and management services. During the three months ended October 28, 2017 and October 29, 2016 , we recognized income of $0.3 million and $0.4 million , respectively. During the nine months ended October 28, 2017 and October 29, 2016 , we recognized income of $0.9 million and $0.4 million , respectively. License Agreement- We license the use of our tradename and trademark, DSW Designer Shoe Warehouse, to Town Shoes for a royalty fee based on a percentage of net sales from its Canadian DSW stores, which are included in net sales. The license is exclusive and non-transferable for use in Canada. During the three months ended October 28, 2017 and October 29, 2016 , we recognized royalty income of $0.2 million and $0.2 million , respectively. During the nine months ended October 28, 2017 and October 29, 2016 , we recognized royalty income of $0.5 million and $0.4 million , respectively. Other Purchases and Services- During the three and nine months ended October 28, 2017 , Town had other purchases and services from us of $0.3 million and $1.9 million , respectively. During the three and nine months ended October 29, 2016 , no other purchases and services were provided. David Duong, Co-founder of Ebuys On March 4, 2016 , we acquired 100% ownership of Ebuys from its co-founders, including David Duong, who continues to serve on the board of directors of Ebuys, for cash and future amounts to be paid to the co-founders contingent upon achievement of certain milestones. See Note 13 , Commitments and Contingencies , for the estimated fair value of the contingent consideration liability and changes recognized. Mr. Duong will receive 50% of any future payments of the contingent consideration. |
Earnings per Share and Sharehol
Earnings per Share and Shareholders' Equity | 9 Months Ended |
Oct. 28, 2017 | |
Earnings Per Share [Abstract] | |
Earnings per Share and Shareholders' Equity | EARNINGS PER SHARE Basic earnings per share is based on net income and the weighted average of Class A and Class B Common Shares outstanding. Diluted earnings per share reflects the potential dilution of common shares adjusted for outstanding stock options, restricted stock units ("RSUs"), and performance-based restricted stock units ("PSUs") calculated using the treasury stock method. The following is a reconciliation of the number of shares used in the calculation of earnings per share: Three months ended Nine months ended October 28, 2017 October 29, 2016 October 28, 2017 October 29, 2016 (in thousands) Weighted average shares outstanding - Basic shares 80,112 82,026 80,215 82,011 Dilutive effect of stock-based compensation awards 535 511 484 632 Weighted average shares outstanding - Diluted shares 80,647 82,537 80,699 82,643 For the three months ended October 28, 2017 and October 29, 2016 , the number of potential shares that were not included in the computation of diluted earnings per share because the effect would be anti-dilutive was 4.5 million and 3.1 million , respectively. For the nine months ended October 28, 2017 and October 29, 2016 , the number of potential shares that were not included in the computation of diluted earnings per share because the effect would be anti-dilutive was 4.4 million and 3.3 million , respectively. |
Stock-based Compensation
Stock-based Compensation | 9 Months Ended |
Oct. 28, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-based Compensation | STOCK-BASED COMPENSATION Stock-based compensation expense consisted of the following: Three months ended Nine months ended October 28, 2017 October 29, 2016 October 28, 2017 October 29, 2016 (in thousands) Stock options $ 1,467 $ 1,313 $ 4,804 $ 4,538 Restricted stock units 809 782 2,294 2,651 Performance-based restricted stock units 1,022 547 2,969 1,779 Director stock units ("DSUs") 190 198 1,272 1,188 $ 3,488 $ 2,840 $ 11,339 $ 10,156 The fair value for stock option awards was estimated at the grant date using the Black-Scholes pricing model with the following weighted average assumptions for the options granted: Nine months ended October 28, 2017 October 29, 2016 Assumptions: Risk-free interest rate 1.9% 1.5% Expected volatility 34.4% 36.0% Expected option term 5.5 years 5.4 years Dividend yield 3.9% 3.0% Other data: Weighted average grant date fair value $4.17 $6.59 The following table summarizes the stock-based compensation award activity: Nine months ended October 28, 2017 Stock Options RSUs PSUs DSUs (in thousands) Outstanding - beginning of period 3,799 351 250 311 Granted 1,756 292 263 85 Exercised / vested (151 ) (82 ) (50 ) (46 ) Forfeited / expired (426 ) (85 ) (5 ) — Outstanding - end of period 4,978 476 458 350 As of October 28, 2017 , 4.7 million shares of Class A Common Shares remain available for future stock-based compensation grants under the 2014 Long-Term Incentive Plan. |
Investments
Investments | 9 Months Ended |
Oct. 28, 2017 | |
Investments [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | INVESTMENTS We hold available-for-sale investments primarily in bonds and term notes. Investments consisted of the following: Short-term Investments Long-term Investments October 28, 2017 January 28, 2017 October 29, 2016 October 28, 2017 January 28, 2017 October 29, 2016 (in thousands) Available-for-sale investments: Carrying value $ 180,531 $ 98,793 $ 78,497 $ — $ 77,882 $ 76,206 Unrealized gains included in accumulated other comprehensive loss 47 101 156 — 133 29 Unrealized losses included in accumulated other comprehensive loss (512 ) (364 ) (141 ) — (111 ) (109 ) Total investments $ 180,066 $ 98,530 $ 78,512 $ — $ 77,904 $ 76,126 |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Oct. 28, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | FAIR VALUE MEASUREMENTS Financial Assets and Liabilities- Financial assets and liabilities measured at fair value on a recurring basis consisted of the following: October 28, 2017 Total Level 1 Level 2 Level 3 (in thousands) Financial assets: Cash and cash equivalents $ 149,485 $ 149,485 $ — $ — Short-term investments 180,066 527 179,539 — $ 329,551 $ 150,012 $ 179,539 $ — Financial liabilities - Contingent consideration liability $ 4,962 $ — $ — $ 4,962 $ 4,962 $ — $ — $ 4,962 January 28, 2017 Total Level 1 Level 2 Level 3 (in thousands) Financial assets: Cash and cash equivalents $ 110,657 $ 110,657 $ — $ — Short-term investments 98,530 2,446 96,084 — Long-term investments 77,904 431 77,473 — $ 287,091 $ 113,534 $ 173,557 $ — Financial liabilities - Contingent consideration liability $ 33,204 $ — $ — $ 33,204 $ 33,204 $ — $ — $ 33,204 October 29, 2016 Total Level 1 Level 2 Level 3 (in thousands) Financial assets: Cash and cash equivalents $ 60,962 $ 60,962 $ — $ — Short-term investments 78,512 2,547 75,965 — Long-term investments 76,126 405 75,721 — $ 215,600 $ 63,914 $ 151,686 $ — Financial liabilities - Contingent consideration liability $ 58,923 $ — $ — $ 58,923 $ 58,923 $ — $ — $ 58,923 The short-term and long-term investments categorized as Level 2 were valued using a market-based approach using inputs such as prices of similar assets in active markets. See Note 13 , Commitments and Contingencies , for the estimated fair value (categorized as Level 3) of the contingent consideration liability and changes recognized. We have financial assets and liabilities not required to be measured at fair value on a recurring basis, which primarily consist of accounts receivables, note receivable from Town Shoes, and accounts payables. The carrying value of accounts receivables and accounts payables approximated their fair values due to their short-term nature. As of October 28, 2017 , January 28, 2017 and October 29, 2016 , the fair value of the note receivable from Town Shoes was $49.9 million , $45.7 million and $44.4 million , respectively, compared to the carrying value of $60.2 million , $53.1 million and $50.6 million , respectively. We estimated the fair value of the note receivable based upon current interest rates offered on similar instruments. The change in fair value is based on the change in comparable rates on similar instruments. Based on our intention and ability to hold the note until maturity or the exercise of the put/call option, the carrying value is not other-than-temporarily impaired. Non-Financial Assets - As discussed in Note 3 , Significant Accounting Policies , during the three months ended October 28, 2017 , we recorded impairment charges related to Ebuys of $53.8 million for goodwill, which resulted in writing off all of Ebuys' goodwill, and $28.9 million for intangible assets. We determined that the carrying values exceeded the related estimated fair values (categorized as Level 3). After the impairment charges were recorded, the balance of the tradename intangibles was $3.0 million . The fair value of intangible assets for tradenames was based on using the relief from royalty method using a royalty rate of 0.5% and a discount rate of 11.0% . We wrote-off the remaining carrying value of intangible assets for online retailer and customer relationships and for non-compete agreements due to the lack of sufficient projected cash flows. |
Property and Equipment, Net
Property and Equipment, Net | 9 Months Ended |
Oct. 28, 2017 | |
Property, Plant and Equipment [Abstract] | |
Property and equipment, net | PROPERTY AND EQUIPMENT, NET Property and equipment consisted of the following: October 28, 2017 January 28, 2017 October 29, 2016 (in thousands) Land $ 1,110 $ 1,110 $ 1,110 Buildings 12,485 12,485 12,485 Building and leasehold improvements 399,905 393,505 388,085 Furniture, fixtures and equipment 418,432 408,653 403,632 Software 136,295 123,460 122,946 Construction in progress (1) 33,169 27,456 25,021 Total property and equipment 1,001,396 966,669 953,279 Accumulated depreciation and amortization (643,242 ) (591,418 ) (572,061 ) Property and equipment, net $ 358,154 $ 375,251 $ 381,218 (1) Construction in progress is comprised primarily of the construction of leasehold improvements and furniture and fixtures related to unopened stores and internal-use software under development. |
Accrued Expenses
Accrued Expenses | 9 Months Ended |
Oct. 28, 2017 | |
Payables and Accruals [Abstract] | |
Accrued Expenses | ACCRUED EXPENSES Accrued expenses consisted of the following: October 28, 2017 January 28, 2017 October 29, 2016 (in thousands) Gift cards and merchandise credits $ 38,423 $ 45,743 $ 36,455 Compensation 22,390 17,132 23,872 Taxes 20,361 21,764 29,658 Customer loyalty program 12,659 11,502 11,914 Other (1) 48,157 34,193 41,754 $ 141,990 $ 130,334 $ 143,653 (1) Other is comprised of deferred revenue, sales return allowance, and various other accrued expenses, including amounts owed under our vendor payment program described below. To better facilitate the processing efficiency of certain vendor payments, during fiscal 2016, we entered into a vendor payment program with a payment processing intermediary. Under the vendor payment program, the intermediary makes regularly-scheduled payments to participating vendors and we, in turn, settle monthly with the intermediary. The net change in the outstanding balance is reflected as a financing activity in the consolidated statements of cash flows. |
Non-Current Liabilities
Non-Current Liabilities | 9 Months Ended |
Oct. 28, 2017 | |
Other Liabilities Disclosure [Abstract] | |
Other Non-Current Liabilities | NON-CURRENT LIABILITIES Non-current liabilities consisted of the following: October 28, 2017 January 28, 2017 October 29, 2016 (in thousands) Construction and tenant allowances $ 82,135 $ 87,886 $ 90,359 Deferred rent 37,820 37,779 38,218 Accrual for lease obligations 8,310 7,283 8,237 Other (1) 13,487 8,231 7,840 $ 141,752 $ 141,179 $ 144,654 (1) Other is comprised of various other accrued expenses that we expect will settle beyond one year from the end of the applicable period. |
Debt Obligations
Debt Obligations | 9 Months Ended |
Oct. 28, 2017 | |
Debt Disclosure [Abstract] | |
Debt Obligations and Warrant Liabilities | DEBT Credit Facility - On August 25, 2017 , we entered into a senior unsecured revolving credit agreement (the "Credit Facility") with a maturity date of August 25, 2022 that replaced our previous secured revolving credit agreement and letter of credit agreement. The Credit Facility provides a revolving line of credit up to $300 million , with sub-limits for the issuance of up to $50 million in letters of credit, swing loan advances of up to $15 million , and the issuance of up to $75 million in foreign currency revolving loans and letters of credit. The Credit Facility may be further increased by up to $100 million subject to agreed-upon terms and conditions. The Credit Facility may be used to provide funds for working capital, capital expenditures, dividends and share repurchases, other expenditures, and permitted acquisitions as defined by the Credit Facility. Loans issued under the revolving line of credit bear interest, at our option, at a base rate or an alternate base rate as defined in the Credit Facility plus a margin based on our leverage ratio, with any loans issued in CAD bearing interest at the alternate base rate plus a margin based on our leverage ratio. Interest on letters of credit issued under the Credit Facility is variable based on our leverage ratio and the type of letters of credit. Commitment fees are based on the average unused portion of the Credit Facility at a variable rate based on our leverage ratio. As of October 28, 2017 , we had no outstanding borrowings under the Credit Facility and $2.5 million in letters of credit issued, resulting in $297.5 million available for borrowings. Interest expense related to the Credit Facility includes letters of credit interest, commitment fees and the amortization of debt issuance costs. Debt Covenants- The Credit Facility contains financial and other covenants, including, but not limited to, limitations on indebtedness, liens and investments, as well as the maintenance of a leverage ratio not to exceed 3.25 :1 and a fixed charge coverage ratio not to be less than 1.75 :1. A violation of any of the covenants could result in a default under the Credit Facility that would permit the lenders to restrict our ability to further access the Credit Facility for loans and letters of credit and require the immediate repayment of any outstanding loans under the Credit Facility. As of October 28, 2017 , we were in compliance with all financial covenants. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Oct. 28, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES Contingent Consideration Liability- The contingent consideration liability resulted from the acquisition of Ebuys and is based on a defined earnings performance measure for fiscal years 2017, 2018 and 2019 with no defined maximum earn-out. The contingent consideration liability is based on our estimated fair value with any differences between the final acquisition-date fair value and the estimated settlement of the obligation, as remeasured each reporting period, being recognized as an adjustment to income from operations. Activity for the contingent consideration liability was as follows: Nine months ended October 28, 2017 October 29, 2016 (in thousands) Contingent consideration liability - beginning of period $ 33,204 $ — Preliminary purchase price — 56,000 Accretion in value 3,506 5,080 Fair value adjustment (1) (32,432 ) — Purchase price and other adjustments 684 (2,157 ) Contingent consideration liability - end of period $ 4,962 $ 58,923 (1) Fair value was determined using an income valuation approach, primarily based on discounted cash flows related to the projected earnings performance measure with a discount rate of approximately 13.0% . The categorization of the fair value framework used to price the liability is considered Level 3 due to the subjective nature of the unobservable inputs used to determine fair value. Legal Proceedings- We are involved in various legal proceedings that are incidental to the conduct of our business. Although it is not possible to predict with certainty the eventual outcome of any litigation, we believe the amount of any potential liability with respect to current legal proceedings will not be material to the results of operations or financial condition. As additional information becomes available, we will assess any potential liability related to pending litigation and revise the estimates as needed. Guarantee- As a result of a previous merger, we provided a guarantee for a lease commitment that is scheduled to expire in 2024 of a location that has been leased to a third party. If the third party does not pay the rent or vacates the premise, we may be required to make full rent payments to the landlord. Contractual Obligations- As of October 28, 2017 , we have 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. Our obligations under these commitments were $0.2 million as of October 28, 2017 . In addition, we have entered into various noncancelable purchase and service agreements. The obligations under these agreements were approximately $21.6 million as of October 28, 2017 . |
Segment Reporting
Segment Reporting | 9 Months Ended |
Oct. 28, 2017 | |
Segment Reporting [Abstract] | |
Segment Reporting Disclosure [Text Block] | SEGMENT REPORTING Our two reportable segments, which are also operating segments, are the DSW segment, which includes DSW stores and dsw.com, and the ABG segment. Other includes Ebuys and franchise activity with the Apparel Group. The following provides certain financial data by segment reconciled to the consolidated financial statements: DSW segment ABG segment Other Total (in thousands) Three months ended October 28, 2017 Net sales $ 654,587 31,059 22,662 $ 708,308 Gross profit $ 202,267 7,130 (2,680 ) $ 206,717 Three months ended October 29, 2016 Net sales $ 639,136 36,154 21,326 $ 696,616 Gross profit $ 203,978 7,850 (48 ) $ 211,780 Nine months ended October 28, 2017 Net sales $ 1,907,753 106,377 65,689 $ 2,079,819 Gross profit $ 579,455 24,066 (4,603 ) $ 598,918 Nine months ended October 29, 2016 Net sales $ 1,866,096 114,738 55,993 $ 2,036,827 Gross profit $ 573,283 25,880 3,835 $ 602,998 |
Subsequent Events
Subsequent Events | 9 Months Ended |
Oct. 28, 2017 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | SUBSEQUENT EVENT On November 21, 2017 , the Board of Directors declared a quarterly cash dividend payment of $0.20 per share for both Class A and Class B Common Shares. The dividend will be paid on December 29, 2017 to shareholders of record at the close of business on December 15, 2017 . |
Business Operations and Basis22
Business Operations and Basis of Presentation Business Operations and Basis of Presentation (Policies) | 9 Months Ended |
Oct. 28, 2017 | |
Basis of Accounting, Policy [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation- The accompanying unaudited, condensed consolidated financial statements have been prepared by management in accordance with accounting principles generally accepted in the United States ("GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, we do not include all of the information and footnotes required by GAAP for complete financial statements. The accompanying financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. All such adjustments are of a normal recurring nature. The condensed consolidated financial position, results of operations and cash flows for these interim periods are not necessarily indicative of the results that may be expected in future periods. The balance sheet at January 28, 2017 has been derived from the audited financial statements at that date. The financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in our Annual Report on Form 10-K for the fiscal year ended January 28, 2017 , filed with the U.S. Securities and Exchange Commission on March 23, 2017. |
Fiscal Period, Policy [Policy Text Block] | Fiscal Year- Our fiscal year ends on the Saturday nearest to January 31. References to a fiscal year refer to the calendar year in which the fiscal year begins. |
Significant Accounting Polici23
Significant Accounting Policies (Policies) | 9 Months Ended |
Oct. 28, 2017 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | 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 USD, unless otherwise noted. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates- The preparation of financial statements in conformity with 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 sales returns, depreciation, amortization, inventory valuation, contingent consideration liability, customer loyalty program reserve, recoverability of long-lived assets and intangible assets, legal reserves, accrual for lease 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. |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Cash, Cash Equivalents, and Restricted Cash - Cash and cash equivalents represent cash, money market funds and credit card receivables that generally settle within three days. Restricted cash represents cash that is restricted as to withdrawal or usage and consisted of a mandatory cash deposit for outstanding letters of credit under our previous credit facility. The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statements of cash flows: October 28, 2017 January 28, 2017 October 29, 2016 (in thousands) Cash and cash equivalents $ 149,485 $ 110,657 $ 60,962 Restricted cash, included in prepaid expenses and other current assets — 4,654 5,269 Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows $ 149,485 $ 115,311 $ 66,231 |
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. Assets and liabilities recorded at fair value are categorized using defined hierarchical levels related to the subjectivity associated with the inputs to fair value measurements as follows: • Level 1 - Quoted prices in active markets for identical assets or liabilities. • Level 2 - Quoted prices for similar assets or liabilities in active markets or inputs that are observable. • Level 3 - Unobservable inputs in which little or no market activity exists. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of Long-Lived Assets- We periodically evaluate the carrying amount of our long-lived assets, primarily property and equipment and definite-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. The impairment loss recognized is the excess of the carrying value of the asset or asset group over its fair value. Due to recurring operating losses incurred by Ebuys since its acquisition as well as increased competitive pressures in the digital marketplaces, we revised our growth expectations assumed at the time of the acquisition and have moderated future expectations for the business. As a result, during the three months ended October 28, 2017 , we undertook a review of the carrying amount of Ebuys’ intangible assets and recorded intangible assets impairment charges of $28.9 million in the accompanying condensed consolidated statements of operations. |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill- We evaluate goodwill for impairment annually during our fourth quarter, or more frequently if an event occurs or circumstances change, such as material deterioration in performance or a significant and sustained decline in our stock price, that would indicate that impairment may exist. When evaluating goodwill for impairment, we may first perform a qualitative assessment to determine whether it is more likely than not that a reporting unit is impaired. If we do not perform a qualitative assessment, or if we determine that it is more likely than not that the carrying value of the reporting unit exceeds its fair value, we will calculate the estimated fair value of the reporting unit. Fair value is the price a willing buyer would pay for the reporting unit and is typically calculated using a discounted cash flow analysis. For certain reporting units, where deemed appropriate, we may also utilize a market approach for estimating fair value. In the third quarter of fiscal 2017, we early adopted the Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") 2017-04, Simplifying the Accounting for Goodwill Impairment , which simplifies the subsequent measurement of goodwill by eliminating the requirement to determine the implied fair value of goodwill to measure an impairment of goodwill. Rather, goodwill impairment charges are calculated as the amount by which a reporting unit's carrying amount exceeds its fair value. Due to recurring operating losses incurred by Ebuys since its acquisition as well as increased competitive pressures in the digital marketplaces, we revised our growth expectations assumed at the time of the acquisition and have moderated future expectations for the business. As a result, during the three months ended October 28, 2017 , we undertook a review of the carrying amount of Ebuys, which included goodwill and reflected the impact of the intangible assets impairment charges. We utilized a discounted cash flow analysis to determine the implied fair value of Ebuys, which was then compared with its carrying value, resulting in a goodwill impairment charge of $53.8 million . |
Treasury Stock [Text Block] | Share Repurchase Program- On August 17, 2017 , the Board of Directors authorized the repurchase of an additional $500 million of DSW Common Shares under our share repurchase program, which was added to the $33.5 million remaining from the previous authorization. During the nine months ended October 28, 2017 , we repurchased 0.5 million Class A Common Shares at a cost of $9.4 million , with $524.1 million of Class A Common Shares that remain authorized under the program. The share repurchase program may be suspended, modified or discontinued at any time, and we have no obligation to repurchase any amount of our common shares under the program. Shares will be repurchased in the open market at times and in amounts considered appropriate based on price and market conditions. |
Comprehensive Income, Policy [Policy Text Block] | Accumulated Other Comprehensive Income (Loss)- Changes for the balances of each component of accumulated other comprehensive loss were as follows (all amounts are net of tax): Nine months ended October 28, 2017 October 29, 2016 Foreign Currency Translation Available-for-Sale Securities Total Foreign Currency Translation Available-for-Sale Securities Total (in thousands) Accumulated other comprehensive loss - beginning of period $ (13,699 ) $ (242 ) $ (13,941 ) $ (20,530 ) $ (173 ) $ (20,703 ) Other comprehensive income (loss) before reclassifications (806 ) (149 ) (955 ) 4,709 103 4,812 Amounts reclassified to non-operating income 2,186 (105 ) 2,081 — — — Other comprehensive income (loss) 1,380 (254 ) 1,126 4,709 103 4,812 Accumulated other comprehensive loss - end of period $ (12,319 ) $ (496 ) $ (12,815 ) $ (15,821 ) $ (70 ) $ (15,891 ) |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Adopted Accounting Standards- In the first quarter of fiscal 2017, we adopted ASU 2016-09, Improvements to Employee Share-Based Payment Accounting , which eliminated the requirement to recognize excess tax benefits in common shares paid-in capital and the requirement to evaluate tax deficiencies for common shares paid-in capital or income tax expense classification, and provides for these benefits or deficiencies to be recorded as an income tax expense or benefit on a prospective basis. For the consolidated statements of cash flows, excess tax benefits related to stock-based compensation is no longer presented, on a retroactive basis, as a financing activity cash inflow and as an operating activity cash outflow. In the first quarter of fiscal 2017, we early adopted ASU 2016-18, Statement of Cash Flows - Restricted Cash, which requires that the consolidated statements of cash flows provides the change in the total of cash, cash equivalents, and restricted cash. As a result of this adoption, we no longer show the changes in restricted cash balance as a component of cash flows from investing activities but instead include the balance of restricted cash together with cash and cash equivalents for the beginning and end of the periods presented. As a result of adopting ASU 2016-09 and ASU 2016-18, we adjusted the statements of cash flows on a retroactive basis as follows: Nine Months Ended (in thousands) Net cash provided by operating activities, as previously reported $ 110,635 Eliminated the excess tax benefits related to stock-based compensation 124 Net cash provided by operating activities, as adjusted $ 110,759 Net cash provided by investing activities, as previously reported $ 8,310 Eliminated the decrease in restricted cash (2,407 ) Net cash provided by investing activities, as adjusted $ 5,903 Net cash used in financing activities, as previously reported $ (90,478 ) Eliminated the excess tax benefits related to stock-based compensation (124 ) Net cash used in financing activities, as adjusted $ (90,602 ) Net increase in cash and cash equivalents, as previously reported $ 28,467 Eliminated the impact of the decrease in restricted cash (2,407 ) Net increase in cash, cash equivalents, and restricted cash, as adjusted $ 26,060 Cash and cash equivalents, beginning of period, as previously reported $ 32,495 Included restricted cash 7,676 Cash, cash equivalents, and restricted cash, beginning of period, as adjusted $ 40,171 Cash and cash equivalents, end of period, as previously reported $ 60,962 Included restricted cash 5,269 Cash, cash equivalents, and restricted cash, end of period, as adjusted $ 66,231 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements- In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers , which provides a single comprehensive accounting standard for revenue recognition for contracts with customers and supersedes current guidance. Under ASU 2014-09, 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 is effective for us in the first quarter of fiscal 2018, which we plan to adopt using the full retrospective method where each prior period presented is restated. We have completed an assessment identifying areas of impact to our financial statements, including sales returns, licensing arrangements, gift cards, and our loyalty and co-branded credit card programs. The adoption of the new standard will result in changes in classification between net sales, other revenues, cost of sales, and operating expenses. For income from breakage of gift cards, which is currently recognized as a reduction to operating expenses when the redemption of the gift card is deemed remote, the new standard will require classification within net sales recognized proportionately over the expected redemption period. Also upon adoption of the standard, we will no longer use the incremental cost method and record to cost of sales for our loyalty program, rather we will use a deferred revenue model. We do not expect the adoption of ASU 2014-09 will have a material impact to our reported net sales, operating profit, net income, shareholders’ equity or cash flows, with the primary impacts of adopting the new standard relating to changes in classification of amounts shown on the consolidated financial statements and additional disclosures. In February 2016, the FASB issued ASU 2016-02, Leases , which will change how lessees account for leases. For most leases, a liability will be recorded on the balance sheet based on the present value of future lease obligations with a corresponding right-of-use asset. Primarily for those leases currently classified by us as operating leases, we will recognize a single lease cost on a straight line basis based on the combined amortization of the lease obligation and the right-of-use asset. Other leases will be required to be accounted for as financing arrangements similar to current accounting for capital leases. Upon transition, we will recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. The standard is effective for us in the first quarter of fiscal 2019 with early adoption permitted. We will not early adopt ASU 2016-02 and we expect the standard will have a material impact to our consolidated balance sheets. We are continuing to assess and evaluate the full impact of the standard on our financial statements and we are developing an implementation plan. |
Earnings per Share and Shareh24
Earnings per Share and Shareholders' Equity Earnings per Share and Shareholders' Equity (Policies) | 9 Months Ended |
Oct. 28, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share, Policy [Policy Text Block] | Basic earnings per share is based on net income and the weighted average of Class A and Class B Common Shares outstanding. Diluted earnings per share reflects the potential dilution of common shares adjusted for outstanding stock options, restricted stock units ("RSUs"), and performance-based restricted stock units ("PSUs") calculated using the treasury stock method. |
Segment Reporting (Policies)
Segment Reporting (Policies) | 9 Months Ended |
Oct. 28, 2017 | |
Segment Reporting [Abstract] | |
Segment Reporting, Policy [Policy Text Block] | Our two reportable segments, which are also operating segments, are the DSW segment, which includes DSW stores and dsw.com, and the ABG segment. Other includes Ebuys and franchise activity with the Apparel Group. |
Acquisition and Equity Method26
Acquisition and Equity Method Investment (Tables) | 9 Months Ended |
Oct. 28, 2017 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The preliminary and final purchase price and the allocation of the total consideration to the fair values of the assets and liabilities acquired consisted of the following: Preliminary Purchase Price as of March 4, 2016 Adjustments Final Purchase Price as of January 28, 2017 (in thousands) Purchase price: Cash consideration $ 60,411 $ (635 ) $ 59,776 Contingent consideration 56,000 (2,645 ) 53,355 $ 116,411 $ (3,280 ) $ 113,131 Fair value of assets and liabilities acquired: Accounts and other receivables $ 1,623 $ (287 ) $ 1,336 Inventory 30,152 18 30,170 Other current assets 191 335 526 Property and equipment 1,221 22 1,243 Goodwill 54,785 (995 ) 53,790 Intangible assets 41,301 (2,600 ) 38,701 Accounts payable and other long-term liabilities (12,862 ) 227 (12,635 ) $ 116,411 $ (3,280 ) $ 113,131 |
Significant Accounting Polici27
Significant Accounting Policies Significant Accounting Policies (Tables) | 9 Months Ended | |
Oct. 28, 2017 | Oct. 29, 2016 | |
Schedule of Cash, cash equivalents, and restricted cash [Abstract] | ||
Restrictions on Cash and Cash Equivalents [Table Text Block] | The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statements of cash flows: October 28, 2017 January 28, 2017 October 29, 2016 (in thousands) Cash and cash equivalents $ 149,485 $ 110,657 $ 60,962 Restricted cash, included in prepaid expenses and other current assets — 4,654 5,269 Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statements of cash flows $ 149,485 $ 115,311 $ 66,231 | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Changes for the balances of each component of accumulated other comprehensive loss were as follows (all amounts are net of tax): Nine months ended October 28, 2017 October 29, 2016 Foreign Currency Translation Available-for-Sale Securities Total Foreign Currency Translation Available-for-Sale Securities Total (in thousands) Accumulated other comprehensive loss - beginning of period $ (13,699 ) $ (242 ) $ (13,941 ) $ (20,530 ) $ (173 ) $ (20,703 ) Other comprehensive income (loss) before reclassifications (806 ) (149 ) (955 ) 4,709 103 4,812 Amounts reclassified to non-operating income 2,186 (105 ) 2,081 — — — Other comprehensive income (loss) 1,380 (254 ) 1,126 4,709 103 4,812 Accumulated other comprehensive loss - end of period $ (12,319 ) $ (496 ) $ (12,815 ) $ (15,821 ) $ (70 ) $ (15,891 ) | |
New Accounting Pronouncement, Early Adoption [Table Text Block] | As a result of adopting ASU 2016-09 and ASU 2016-18, we adjusted the statements of cash flows on a retroactive basis as follows: Nine Months Ended (in thousands) Net cash provided by operating activities, as previously reported $ 110,635 Eliminated the excess tax benefits related to stock-based compensation 124 Net cash provided by operating activities, as adjusted $ 110,759 Net cash provided by investing activities, as previously reported $ 8,310 Eliminated the decrease in restricted cash (2,407 ) Net cash provided by investing activities, as adjusted $ 5,903 Net cash used in financing activities, as previously reported $ (90,478 ) Eliminated the excess tax benefits related to stock-based compensation (124 ) Net cash used in financing activities, as adjusted $ (90,602 ) Net increase in cash and cash equivalents, as previously reported $ 28,467 Eliminated the impact of the decrease in restricted cash (2,407 ) Net increase in cash, cash equivalents, and restricted cash, as adjusted $ 26,060 Cash and cash equivalents, beginning of period, as previously reported $ 32,495 Included restricted cash 7,676 Cash, cash equivalents, and restricted cash, beginning of period, as adjusted $ 40,171 Cash and cash equivalents, end of period, as previously reported $ 60,962 Included restricted cash 5,269 Cash, cash equivalents, and restricted cash, end of period, as adjusted $ 66,231 |
Earnings per Share and Shareh28
Earnings per Share and Shareholders' Equity (Tables) | 9 Months Ended |
Oct. 28, 2017 | |
Earnings Per Share [Abstract] | |
Reconciliation of the Number of Shares Used in the Calculation of Diluted Earnings per Share | The following is a reconciliation of the number of shares used in the calculation of earnings per share: Three months ended Nine months ended October 28, 2017 October 29, 2016 October 28, 2017 October 29, 2016 (in thousands) Weighted average shares outstanding - Basic shares 80,112 82,026 80,215 82,011 Dilutive effect of stock-based compensation awards 535 511 484 632 Weighted average shares outstanding - Diluted shares 80,647 82,537 80,699 82,643 |
Stock-based Compensation (Table
Stock-based Compensation (Tables) | 9 Months Ended |
Oct. 28, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule of Share-based Compensation Expense [Table Text Block] | Stock-based compensation expense consisted of the following: Three months ended Nine months ended October 28, 2017 October 29, 2016 October 28, 2017 October 29, 2016 (in thousands) Stock options $ 1,467 $ 1,313 $ 4,804 $ 4,538 Restricted stock units 809 782 2,294 2,651 Performance-based restricted stock units 1,022 547 2,969 1,779 Director stock units ("DSUs") 190 198 1,272 1,188 $ 3,488 $ 2,840 $ 11,339 $ 10,156 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | The fair value for stock option awards was estimated at the grant date using the Black-Scholes pricing model with the following weighted average assumptions for the options granted: Nine months ended October 28, 2017 October 29, 2016 Assumptions: Risk-free interest rate 1.9% 1.5% Expected volatility 34.4% 36.0% Expected option term 5.5 years 5.4 years Dividend yield 3.9% 3.0% Other data: Weighted average grant date fair value $4.17 $6.59 |
Stock Option Plan Activity | The following table summarizes the stock-based compensation award activity: Nine months ended October 28, 2017 Stock Options RSUs PSUs DSUs (in thousands) Outstanding - beginning of period 3,799 351 250 311 Granted 1,756 292 263 85 Exercised / vested (151 ) (82 ) (50 ) (46 ) Forfeited / expired (426 ) (85 ) (5 ) — Outstanding - end of period 4,978 476 458 350 |
Investments (Tables)
Investments (Tables) | 9 Months Ended |
Oct. 28, 2017 | |
Investments [Abstract] | |
Marketable Securities [Table Text Block] | We hold available-for-sale investments primarily in bonds and term notes. Investments consisted of the following: Short-term Investments Long-term Investments October 28, 2017 January 28, 2017 October 29, 2016 October 28, 2017 January 28, 2017 October 29, 2016 (in thousands) Available-for-sale investments: Carrying value $ 180,531 $ 98,793 $ 78,497 $ — $ 77,882 $ 76,206 Unrealized gains included in accumulated other comprehensive loss 47 101 156 — 133 29 Unrealized losses included in accumulated other comprehensive loss (512 ) (364 ) (141 ) — (111 ) (109 ) Total investments $ 180,066 $ 98,530 $ 78,512 $ — $ 77,904 $ 76,126 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Oct. 28, 2017 | |
Fair Value Disclosures [Abstract] | |
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis | Financial assets and liabilities measured at fair value on a recurring basis consisted of the following: October 28, 2017 Total Level 1 Level 2 Level 3 (in thousands) Financial assets: Cash and cash equivalents $ 149,485 $ 149,485 $ — $ — Short-term investments 180,066 527 179,539 — $ 329,551 $ 150,012 $ 179,539 $ — Financial liabilities - Contingent consideration liability $ 4,962 $ — $ — $ 4,962 $ 4,962 $ — $ — $ 4,962 January 28, 2017 Total Level 1 Level 2 Level 3 (in thousands) Financial assets: Cash and cash equivalents $ 110,657 $ 110,657 $ — $ — Short-term investments 98,530 2,446 96,084 — Long-term investments 77,904 431 77,473 — $ 287,091 $ 113,534 $ 173,557 $ — Financial liabilities - Contingent consideration liability $ 33,204 $ — $ — $ 33,204 $ 33,204 $ — $ — $ 33,204 October 29, 2016 Total Level 1 Level 2 Level 3 (in thousands) Financial assets: Cash and cash equivalents $ 60,962 $ 60,962 $ — $ — Short-term investments 78,512 2,547 75,965 — Long-term investments 76,126 405 75,721 — $ 215,600 $ 63,914 $ 151,686 $ — Financial liabilities - Contingent consideration liability $ 58,923 $ — $ — $ 58,923 $ 58,923 $ — $ — $ 58,923 |
Property and Equipment, Net (Ta
Property and Equipment, Net (Tables) | 9 Months Ended |
Oct. 28, 2017 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment, Net | Property and equipment consisted of the following: October 28, 2017 January 28, 2017 October 29, 2016 (in thousands) Land $ 1,110 $ 1,110 $ 1,110 Buildings 12,485 12,485 12,485 Building and leasehold improvements 399,905 393,505 388,085 Furniture, fixtures and equipment 418,432 408,653 403,632 Software 136,295 123,460 122,946 Construction in progress (1) 33,169 27,456 25,021 Total property and equipment 1,001,396 966,669 953,279 Accumulated depreciation and amortization (643,242 ) (591,418 ) (572,061 ) Property and equipment, net $ 358,154 $ 375,251 $ 381,218 |
Accrued Expenses (Tables)
Accrued Expenses (Tables) | 9 Months Ended |
Oct. 28, 2017 | |
Payables and Accruals [Abstract] | |
Accrued Expenses | Accrued expenses consisted of the following: October 28, 2017 January 28, 2017 October 29, 2016 (in thousands) Gift cards and merchandise credits $ 38,423 $ 45,743 $ 36,455 Compensation 22,390 17,132 23,872 Taxes 20,361 21,764 29,658 Customer loyalty program 12,659 11,502 11,914 Other (1) 48,157 34,193 41,754 $ 141,990 $ 130,334 $ 143,653 |
Non-Current Liabilities(Tables)
Non-Current Liabilities(Tables) | 9 Months Ended |
Oct. 28, 2017 | |
Other Liabilities Disclosure [Abstract] | |
Other Non-current Liabilities | Non-current liabilities consisted of the following: October 28, 2017 January 28, 2017 October 29, 2016 (in thousands) Construction and tenant allowances $ 82,135 $ 87,886 $ 90,359 Deferred rent 37,820 37,779 38,218 Accrual for lease obligations 8,310 7,283 8,237 Other (1) 13,487 8,231 7,840 $ 141,752 $ 141,179 $ 144,654 |
Commitments and Contingencies S
Commitments and Contingencies Schedule of Business Acquisitions, Contingent Consideration (Tables) | 9 Months Ended |
Oct. 28, 2017 | |
Business Combinations [Abstract] | |
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block] | Activity for the contingent consideration liability was as follows: Nine months ended October 28, 2017 October 29, 2016 (in thousands) Contingent consideration liability - beginning of period $ 33,204 $ — Preliminary purchase price — 56,000 Accretion in value 3,506 5,080 Fair value adjustment (1) (32,432 ) — Purchase price and other adjustments 684 (2,157 ) Contingent consideration liability - end of period $ 4,962 $ 58,923 |
Segment Reporting (Tables)
Segment Reporting (Tables) | 9 Months Ended |
Oct. 28, 2017 | |
Segment Reporting [Abstract] | |
Segment Information | The following provides certain financial data by segment reconciled to the consolidated financial statements: DSW segment ABG segment Other Total (in thousands) Three months ended October 28, 2017 Net sales $ 654,587 31,059 22,662 $ 708,308 Gross profit $ 202,267 7,130 (2,680 ) $ 206,717 Three months ended October 29, 2016 Net sales $ 639,136 36,154 21,326 $ 696,616 Gross profit $ 203,978 7,850 (48 ) $ 211,780 Nine months ended October 28, 2017 Net sales $ 1,907,753 106,377 65,689 $ 2,079,819 Gross profit $ 579,455 24,066 (4,603 ) $ 598,918 Nine months ended October 29, 2016 Net sales $ 1,866,096 114,738 55,993 $ 2,036,827 Gross profit $ 573,283 25,880 3,835 $ 602,998 |
Business Operations Store Data
Business Operations Store Data (Details) | 9 Months Ended |
Oct. 28, 2017 | |
Schedule of Stores Supplied With Merchandise [Line Items] | |
Number of Reportable Segments | 2 |
Number of retailers operated as leased departments | 3 |
Apparel Group [Member] | |
Affiliated Business Group [Abstract] | |
Number of stores supplied by the entity | 2 |
Gordmans Stores [Member] | |
Affiliated Business Group [Abstract] | |
Stores acquired | 58 |
Acquisition and Equity Method38
Acquisition and Equity Method Investment (Details) - USD ($) $ in Thousands | Mar. 04, 2016 | Jan. 28, 2017 | Oct. 28, 2017 | Oct. 29, 2016 | Jan. 30, 2016 | May 09, 2014 |
Business Combination, Consideration Transferred | $ 60,411 | $ 59,776 | ||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Consideration Transferred | (635) | |||||
Preliminary Business Combination, Contingent Consideration Liability | 56,000 | $ 0 | $ 53,843 | |||
Business Combination, Consideration Transferred, Other | (2,645) | |||||
Contingent Consideration Liability Final Acquisition Date Fair Value | 53,355 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables | 1,623 | 1,336 | ||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Assets | (287) | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory | 30,152 | 30,170 | ||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Inventory | 18 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | 191 | 526 | ||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustments Related to Previous Period | 335 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 1,221 | 1,243 | ||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Property, Plant, and Equipment | 22 | |||||
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net | 54,785 | 53,790 | ||||
Goodwill, Translation and Purchase Accounting Adjustments | (995) | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 41,301 | 38,701 | ||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Intangibles | (2,600) | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities | (12,862) | (12,635) | ||||
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities | 227 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | $ 116,411 | 113,131 | ||||
Goodwill, Purchase Accounting Adjustments | $ (3,280) | |||||
Town Shoe Acquisition, Purchase Price for Ownership Interest (CAD) | $ 75,100 | |||||
Town Shoe Acquisition, Purchase Price for Ownership Interest (USD) | $ 68,900 | |||||
Town Shoe Acquisition, Ownership Interest Acquired | 46.30% | 49.20% | ||||
Shareholder Note, Interest Rate | 12.00% | |||||
Town Shoe Acquisition, Voting Control Interest Acquired | 50.00% | |||||
Foreign Currency Purchase (CAD) | $ 100,000 | |||||
Online retailer relationships [Member] | ||||||
Finite-Lived Intangible Assets, Gross | $ 22,300 | |||||
Tradename [Member] | ||||||
Finite-Lived Intangible Assets, Gross | 11,000 | |||||
Noncompete Agreements [Member] | ||||||
Finite-Lived Intangible Assets, Gross | $ 5,400 |
Significant Accounting Polici39
Significant Accounting Policies Significant Accounting Policies (Details) - USD ($) $ in Thousands, shares in Millions | 3 Months Ended | 9 Months Ended | |||
Oct. 28, 2017 | Oct. 28, 2017 | Aug. 17, 2017 | Jan. 28, 2017 | Oct. 29, 2016 | |
Schedule of Cash, cash equivalents, and restricted cash [Abstract] | |||||
Cash and cash equivalents | $ 149,485 | $ 149,485 | $ 110,657 | $ 60,962 | |
Restricted Cash and Cash Equivalents, Current | 0 | 0 | 4,654 | 5,269 | |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 149,485 | 149,485 | 115,311 | $ 66,231 | |
Impairment of Intangible Assets, Finite-lived | 28,900 | ||||
Goodwill, Impairment Loss | 53,800 | ||||
Stock Repurchase Program, Authorized Amount | $ 500,000 | ||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 524,100 | $ 524,100 | $ 33,500 | ||
Stock Repurchased During Period, Shares | 0.5 | ||||
Stock Repurchased During Period, Value | $ 9,400 |
Significant Accounting Polici40
Significant Accounting Policies Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Oct. 28, 2017 | Oct. 29, 2016 | Oct. 28, 2017 | Oct. 29, 2016 | Jan. 28, 2017 | Jan. 30, 2016 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | $ (7,343) | $ (2,537) | $ (806) | $ 4,709 | ||
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Reclassification Adjustments, Net of Tax | (149) | 103 | ||||
Other comprehensive income (loss), before reclassification adjustment | (955) | 4,812 | ||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax | 2,186 | 0 | ||||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | (105) | 0 | ||||
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent | (26) | 0 | 2,081 | 0 | ||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 1,380 | 4,709 | ||||
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax | (496) | (70) | $ (242) | $ (173) | ||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 948,561 | 923,423 | 948,561 | 923,423 | 937,488 | |
Other Comprehensive Income, Other, Net of Tax | (254) | 103 | ||||
Other Comprehensive Income (Loss), Net of Tax | 1,126 | 4,812 | ||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | (12,319) | (15,821) | (13,699) | (20,530) | ||
AOCI Attributable to Parent [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ (12,815) | $ (15,891) | $ (12,815) | $ (15,891) | $ (13,941) | $ (20,703) |
Significant Accounting Polici41
Significant Accounting Policies Significant accounting policies Accounting changes (Details) - USD ($) $ in Thousands | 9 Months Ended | |||
Oct. 28, 2017 | Oct. 29, 2016 | Jan. 28, 2017 | Jan. 30, 2016 | |
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||
Net Cash Provided by (Used in) Financing Activities, Continuing Operations | $ (56,955) | $ (90,602) | ||
Net increase in cash, cash equivalents, and restricted cash | 34,174 | 26,060 | ||
Cash and cash equivalents | 149,485 | 60,962 | $ 110,657 | |
Restricted Cash and Cash Equivalents, Current | 0 | 5,269 | 4,654 | |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $ 149,485 | 66,231 | $ 115,311 | |
Scenario, Previously Reported [Member] | ||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||
Net Cash Provided by (Used in) Operating Activities, Continuing Operations | 110,635 | |||
Net Cash Provided by (Used in) Investing Activities, Continuing Operations | 8,310 | |||
Net Cash Provided by (Used in) Financing Activities, Continuing Operations | (90,478) | |||
Net increase in cash, cash equivalents, and restricted cash | 28,467 | |||
Cash and cash equivalents | 60,962 | $ 32,495 | ||
Restatement Adjustment [Member] | ||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||
Net Cash Provided by (Used in) Operating Activities, Continuing Operations | 110,759 | |||
Net Cash Provided by (Used in) Investing Activities, Continuing Operations | 5,903 | |||
Net Cash Provided by (Used in) Financing Activities, Continuing Operations | (90,602) | |||
Net increase in cash, cash equivalents, and restricted cash | 26,060 | |||
Restricted Cash and Cash Equivalents, Current | 5,269 | 7,676 | ||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 66,231 | $ 40,171 | ||
Adjustments for New Accounting Pronouncement [Member] | ||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | ||||
Excess Tax Benefit from Share-based Compensation, Operating Activities | (124) | |||
Increase (Decrease) in Restricted Cash | $ (2,407) |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | |||
Oct. 28, 2017 | Oct. 29, 2016 | Oct. 28, 2017 | Oct. 29, 2016 | May 09, 2014 | |
Schottenstein Affiliates [Abstract] | |||||
Related party transaction Outstanding common shares owned (in hundredths) | 18.00% | 18.00% | |||
Related party transaction Combined voting power of outstanding common shares (in hundredths) | 51.00% | 51.00% | |||
Operating Leases, Rent Expense, Minimum Rentals | $ 2.2 | $ 2 | $ 6.8 | $ 6.1 | |
Related Party Transaction, Purchases from Related Party | $ 0.3 | 0.4 | $ 0.9 | 0.9 | |
Town Shoe Acquisition, Ownership Interest Acquired | 46.30% | 46.30% | 49.20% | ||
Town Shoe Acquisition, Voting Control Interest Acquired | 50.00% | ||||
Management Fees, Base Revenue | $ 0.3 | 0.4 | $ 0.9 | 0.4 | |
Proceeds from Royalties Received | 0.2 | $ 0.2 | 0.5 | $ 0.4 | |
Due from Other Related Parties | $ 0.3 | $ 1.9 | |||
Class A Common Shares | |||||
Schottenstein Affiliates [Abstract] | |||||
Related Party Transaction, Number of shares owned by related party (in shares) | 7.1 | 7.1 | |||
Class B Common Shares | |||||
Schottenstein Affiliates [Abstract] | |||||
Related Party Transaction, Number of shares owned by related party (in shares) | 7.7 | 7.7 |
Earnings per Share and Shareh43
Earnings per Share and Shareholders' Equity Calculation of Earnings per Share (Details) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 28, 2017 | Oct. 29, 2016 | Oct. 28, 2017 | Oct. 29, 2016 | |
Reconciliation of the number of shares used in the calculation of diluted earnings (loss) per share [Abstract] | ||||
Basic shares | 80,112 | 82,026 | 80,215 | 82,011 |
Dilutive effect of stock-based compensation awards | 535 | 511 | 484 | 632 |
Diluted shares | 80,647 | 82,537 | 80,699 | 82,643 |
Earnings per Share and Shareh44
Earnings per Share and Shareholders' Equity Anti-Dilutive Securities (Details) - shares shares in Millions | 3 Months Ended | 9 Months Ended | ||
Oct. 28, 2017 | Oct. 29, 2016 | Oct. 28, 2017 | Oct. 29, 2016 | |
Diluted earnings per share [Abstract] | ||||
Securities outstanding not included in computation of diluted earnings per share | 4.5 | 3.1 | 4.4 | 3.3 |
Stock-based Compensation (Detai
Stock-based Compensation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 28, 2017 | Oct. 29, 2016 | Oct. 28, 2017 | Oct. 29, 2016 | |
DSW Stock-Based Compensation Plans [Abstract] | ||||
Share-based compensation expense | $ 3,488 | $ 2,840 | $ 11,339 | $ 10,156 |
Equity instruments other than options [Roll forward] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 4,700 | 4,700 | ||
Employee Stock Option [Member] | ||||
DSW Stock-Based Compensation Plans [Abstract] | ||||
Share-based compensation expense | $ 1,467 | 1,313 | $ 4,804 | $ 4,538 |
Stock Option Activity [Roll Forward] | ||||
Outstanding, beginning of period (in shares) | 3,799 | |||
Granted | 1,756 | |||
Exercised | (151) | |||
Forfeited | (426) | |||
Outstanding, end of period (in shares) | 4,978 | 4,978 | ||
Equity instruments other than options [Roll forward] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.90% | 1.50% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 34.40% | 36.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 5 years 5 months 30 days | 5 years 4 months 30 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 3.90% | 3.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 4.17 | $ 6.59 | ||
Restricted Stock Units (RSUs) [Member] | ||||
DSW Stock-Based Compensation Plans [Abstract] | ||||
Share-based compensation expense | $ 809 | 782 | $ 2,294 | $ 2,651 |
Stock Option Activity [Roll Forward] | ||||
Outstanding, beginning of period (in shares) | 351 | |||
Granted | 292 | |||
Exercised | (82) | |||
Forfeited | (85) | |||
Outstanding, end of period (in shares) | 476 | 476 | ||
Performance Shares [Member] | ||||
DSW Stock-Based Compensation Plans [Abstract] | ||||
Share-based compensation expense | $ 1,022 | 547 | $ 2,969 | 1,779 |
Stock Option Activity [Roll Forward] | ||||
Outstanding, beginning of period (in shares) | 250 | |||
Granted | 263 | |||
Exercised | (50) | |||
Forfeited | (5) | |||
Outstanding, end of period (in shares) | 458 | 458 | ||
Director Stock Units [Member] | ||||
DSW Stock-Based Compensation Plans [Abstract] | ||||
Share-based compensation expense | $ 190 | $ 198 | $ 1,272 | $ 1,188 |
Stock Option Activity [Roll Forward] | ||||
Outstanding, beginning of period (in shares) | 311 | |||
Granted | 85 | |||
Exercised | (46) | |||
Forfeited | 0 | |||
Outstanding, end of period (in shares) | 350 | 350 |
Investments (Details)
Investments (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Oct. 28, 2017 | Oct. 29, 2016 | Jan. 28, 2017 | |
Schedule of Investments, Reported Amounts, by Category [Line Items] | |||
Short-term investments | $ 180,066 | $ 78,512 | $ 98,530 |
Long-term investments | 0 | 76,126 | 77,904 |
Current available for sale Securities Unrecognized Holding Gain | 47 | 156 | 101 |
Long-Term Available for Sale Securities Unrecognized Holding Gain | 0 | 29 | 133 |
Current Available for Sale Securities Unrecognized Holding Loss | (512) | (141) | (364) |
Available-for-sale Securities, Change in Net Unrealized Holding Gain (Loss), Net of Tax | 0 | (109) | (111) |
Carrying value | Available-for-sale Securities [Member] | |||
Schedule of Investments, Reported Amounts, by Category [Line Items] | |||
Short-term investments | 180,531 | 78,497 | 98,793 |
Long-term investments | $ 0 | $ 76,206 | $ 77,882 |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Oct. 28, 2017 | Jan. 28, 2017 | Oct. 29, 2016 | |
Assets: | |||
Cash and equivalents | $ 149,485 | $ 110,657 | $ 60,962 |
Short Term Investments, Fair Value Disclosure | 180,066 | 98,530 | 78,512 |
Long Term Investments, Fair Value Disclosure | 77,904 | 76,126 | |
Total assets | 329,551 | 287,091 | 215,600 |
Commitments, Fair Value Disclosure | 4,962 | 33,204 | 58,923 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 4,962 | 33,204 | 58,923 |
Notes Receivable, Fair Value Disclosure | 49,900 | 45,700 | 44,400 |
Notes Receivable, Related Parties, Noncurrent | 60,249 | 53,121 | 50,579 |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Alternative [Abstract] | |||
Goodwill, Impaired, Accumulated Impairment Loss | (53,800) | ||
Impairment of Intangible Assets, Finite-lived | 28,900 | ||
Intangible Assets, Net (Excluding Goodwill) | $ 3,000 | ||
Impaired Intangible Asset, Method for Fair Value Determination | 0.50% | ||
Fair Value Inputs, Discount Rate | 13.00% | ||
Level 1 [Member] | |||
Assets: | |||
Cash and equivalents | $ 149,485 | 110,657 | 60,962 |
Short Term Investments, Fair Value Disclosure | 527 | 2,446 | 2,547 |
Long Term Investments, Fair Value Disclosure | 431 | 405 | |
Total assets | 150,012 | 113,534 | 63,914 |
Commitments, Fair Value Disclosure | 0 | 0 | 0 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | 0 | 0 |
Level 2 [Member] | |||
Assets: | |||
Cash and equivalents | 0 | 0 | 0 |
Short Term Investments, Fair Value Disclosure | 179,539 | 96,084 | 75,965 |
Long Term Investments, Fair Value Disclosure | 77,473 | 75,721 | |
Total assets | 179,539 | 173,557 | 151,686 |
Commitments, Fair Value Disclosure | 0 | 0 | 0 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | |||
Assets: | |||
Total assets | 0 | 0 | 0 |
Commitments, Fair Value Disclosure | 4,962 | 33,204 | 58,923 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 4,962 | $ 33,204 | $ 58,923 |
Tradename [Member] | |||
Fair Value, Assets Measured on Recurring and Nonrecurring Basis, Alternative [Abstract] | |||
Fair Value Inputs, Discount Rate | 11.00% |
Property and Equipment, Net (De
Property and Equipment, Net (Details) - USD ($) $ in Thousands | Oct. 28, 2017 | Jan. 28, 2017 | Oct. 29, 2016 |
Property and equipment [Abstract]: | |||
Land | $ 1,110 | $ 1,110 | $ 1,110 |
Buildings and Improvements, Gross | 12,485 | 12,485 | 12,485 |
Leasehold Improvements, Gross | 399,905 | 393,505 | 388,085 |
Furniture and Fixtures, Gross | 418,432 | 408,653 | 403,632 |
Capitalized Computer Software, Gross | 136,295 | 123,460 | 122,946 |
Construction in Progress, Gross | 33,169 | 27,456 | 25,021 |
Total property and equipment | 1,001,396 | 966,669 | 953,279 |
Accumulated depreciation and amortization | (643,242) | (591,418) | (572,061) |
Property and equipment, net | $ 358,154 | $ 375,251 | $ 381,218 |
Accrued Expenses (Details)
Accrued Expenses (Details) - USD ($) $ in Thousands | Oct. 28, 2017 | Jan. 28, 2017 | Oct. 29, 2016 |
Payables and Accruals [Line Items] | |||
Gift cards and merchandise credits | $ 38,423 | $ 45,743 | $ 36,455 |
Compensation | 22,390 | 17,132 | 23,872 |
Taxes | 20,361 | 21,764 | 29,658 |
Customer loyalty program | 12,659 | 11,502 | 11,914 |
Other1 | 48,157 | 34,193 | 41,754 |
Total accrued expenses | $ 141,990 | $ 130,334 | $ 143,653 |
Non-Current Liabilities (Detail
Non-Current Liabilities (Details) - USD ($) $ in Thousands | Oct. 28, 2017 | Jan. 28, 2017 | Oct. 29, 2016 |
Other Liabilities Disclosure [Abstract] | |||
Construction and tenant allowances | $ 82,135 | $ 87,886 | $ 90,359 |
Deferred rent | 37,820 | 37,779 | 38,218 |
Restructuring Reserve | 8,310 | 7,283 | 8,237 |
Other (1) | 13,487 | 8,231 | 7,840 |
Total non-current liabilities | $ 141,752 | $ 141,179 | $ 144,654 |
Credit Facility (Details)
Credit Facility (Details) - USD ($) $ in Millions | Aug. 25, 2022 | Aug. 25, 2017 | Oct. 28, 2017 |
Debt Instrument [Line Items] | |||
Line of Credit Facility, Initiation Date | Aug. 25, 2017 | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 300 | ||
Letter of Credit Sublimits | 50 | ||
Swing Loan Advances | 15 | ||
foreign currency revolving loan | 75 | ||
Line of Credit, additional borrowing capacity | $ 100 | ||
Letters of Credit Outstanding, Amount | $ 2.5 | ||
Line of Credit Facility, Remaining Borrowing Capacity | $ 297.5 | ||
Maximum [Member] | |||
Debt Instrument [Line Items] | |||
Supplementary Leverage Ratio | 325.00% | ||
Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, coverage ratio | 175.00% | ||
Scenario, Forecast [Member] | |||
Debt Instrument [Line Items] | |||
Line of Credit Facility, Expiration Date | Aug. 25, 2022 |
Commitments and Contingencies (
Commitments and Contingencies (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||
Oct. 28, 2017 | Oct. 29, 2016 | Oct. 28, 2017 | Oct. 29, 2016 | Jan. 28, 2017 | Mar. 04, 2016 | Jan. 30, 2016 | |
Purchase Commitment, Excluding Long-term Commitment [Line Items] | |||||||
Fair Value Inputs, Discount Rate | 13.00% | ||||||
Preliminary Business Combination, Contingent Consideration Liability | $ 0 | $ 53,843 | $ 0 | $ 53,843 | $ 56,000 | ||
Accretion Expense | 3,506 | 5,080 | |||||
Liabilities, Fair Value Adjustment | 0 | (32,432) | |||||
Contingent Consideration Other Adjustments | 684 | (2,157) | |||||
Business Combination, Contingent Consideration, Liability | 4,962 | $ 58,923 | 4,962 | $ 58,923 | $ 33,204 | $ 0 | |
Contractual Obligations [Abstract] | |||||||
Purchase Commitment, Remaining Minimum Amount Committed | 200 | 200 | |||||
Unrecorded Unconditional Purchase Obligation, Due within Five Years | $ 21,600 | $ 21,600 |
Segment Reporting (Details)
Segment Reporting (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 28, 2017USD ($) | Oct. 29, 2016USD ($) | Oct. 28, 2017USD ($) | Oct. 29, 2016USD ($) | |
Segment Reporting Information [Line Items] | ||||
Number of Reportable Segments | 2 | |||
Segment information [Abstract] | ||||
Net sales | $ 708,308 | $ 696,616 | $ 2,079,819 | $ 2,036,827 |
Gross profit | 206,717 | 211,780 | 598,918 | 602,998 |
Other Segments [Member] | ||||
Segment information [Abstract] | ||||
Net sales | 22,662 | 21,326 | 65,689 | 55,993 |
Gross profit | (2,680) | (48) | (4,603) | 3,835 |
Affiliated Business Group segment [Member] | ||||
Segment information [Abstract] | ||||
Net sales | 31,059 | 36,154 | 106,377 | 114,738 |
Gross profit | 7,130 | 7,850 | 24,066 | 25,880 |
DSW [Member] | ||||
Segment information [Abstract] | ||||
Net sales | 654,587 | 639,136 | 1,907,753 | 1,866,096 |
Gross profit | $ 202,267 | $ 203,978 | $ 579,455 | $ 573,283 |
Subsequent Events Dividend Decl
Subsequent Events Dividend Declaration (Details) - Subsequent Event [Member] - $ / shares | Dec. 29, 2017 | Dec. 15, 2017 | Nov. 21, 2017 |
Subsequent Event [Line Items] | |||
Common Stock, Dividends, Per Share, Declared | $ 0.20 | ||
Dividends Payable, Date to be Paid | Dec. 29, 2017 | ||
Dividends Payable, Date of Record | Dec. 15, 2017 |