Lululemon Athletica (LULU) 10-Q 9 Jun 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	3-May-15	Jun. 04, 2015
Document Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	3-May-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Trading Symbol	LULU
Entity Registrant Name	lululemon athletica inc.
Entity Central Index Key	1397187
Current Fiscal Year End Date	-30
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		131,612,198

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	3-May-15	Feb. 01, 2015
In Thousands, unless otherwise specified
Current assets
Cash and cash equivalents	$655,881	$664,479
Accounts receivable	13,287	13,746
Inventories	236,499	208,116
Prepaid expenses and other current assets	67,125	64,671
Total current assets	972,792	951,012
Property and equipment, net	314,336	296,008
Goodwill and intangible assets, net	26,276	26,163
Deferred income tax assets	16,294	16,018
Other non-current assets	8,018	7,012
Total assets	1,337,716	1,296,213
Current liabilities
Accounts payable	5,318	9,339
Accrued inventory liabilities	39,008	22,296
Accrued compensation and related expenses	27,550	29,932
Income taxes payable	1,277	20,073
Unredeemed gift card liability	39,226	46,252
Other accrued liabilities	31,103	31,989
Total current liabilities	143,482	159,881
Deferred income tax liabilities	3,800	3,633
Other non-current liabilities	45,423	43,131
Total liabilities	192,705	206,645
Stockholders' equity
Undesignated preferred stock, $0.01 par value, 5,000 shares authorized, none issued and outstanding	0	0
Exchangeable stock, no par value, 60,000 shares authorized, issued and outstanding 9,833 and 9,833	0	0
Special voting stock, $0.000005 par value, 60,000 shares authorized, issued and outstanding 9,833 and 9,833	0	0
Common stock, $0.005 par value, 400,000 shares authorized, issued and outstanding 131,978 and 132,112	660	661
Additional paid-in capital	245,136	241,695
Retained earnings	1,050,016	1,020,619
Accumulated other comprehensive loss	-150,801	-173,407
Total stockholders' equity	1,145,011	1,089,568
Total liabilities and stockholders' equity	$1,337,716	$1,296,213

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	3-May-15	Feb. 01, 2015
Statement of Financial Position [Abstract]
Undesignated preferred stock, par value (in dollars per share)	$0.01	$0.01
Undesignated preferred stock, shares authorized	5,000,000	5,000,000
Undesignated preferred stock, shares issued	0	0
Undesignated preferred stock, shares outstanding	0	0
Exchangeable stock, shares authorized	60,000,000	60,000,000
Exchangeable stock, shares issued	9,833,000	9,833,000
Exchangeable stock, shares outstanding	9,833,000	9,833,000
Special voting stock, par value (in dollars per share)	$0.00	$0.00
Special voting stock, shares authorized	60,000,000	60,000,000
Special voting stock, shares issued	9,833,000	9,833,000
Special voting stock, shares outstanding	9,833,000	9,833,000
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	131,978,000	132,112,000
Common stock, shares outstanding	131,978,000	132,112,000

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	3-May-15	4-May-14
Income Statement [Abstract]
Net revenue	$423,544	$384,618
Cost of goods sold	217,667	188,874
Gross profit	205,877	195,744
Selling, general and administrative expenses	137,841	125,943
Income from operations	68,036	69,801
Other income, net	529	1,643
Income before provision for income taxes	68,565	71,444
Provision for income taxes	20,755	52,463
Net income	47,810	18,981
Other comprehensive income:
Foreign currency translation adjustment	22,606	12,390
Comprehensive income	$70,416	$31,371
Basic earnings per share (in dollars per share)	$0.34	$0.13
Diluted earnings per share (in dollars per share)	$0.34	$0.13
Basic weighted-average number of shares outstanding	141,967	145,383
Diluted weighted-average number of shares outstanding	142,337	145,861

CONSOLIDATED_STATEMENTS_OF_STO

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $)	Total	Exchangeable Stock [Member]	Special Voting Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]
In Thousands, unless otherwise specified
Beginning balance at Feb. 01, 2015	$1,089,568	$0	$0	$661	$241,695	$1,020,619	($173,407)
Beginning balance, shares at Feb. 01, 2015		9,833	9,833	132,112
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	47,810					47,810
Foreign currency translation adjustment	22,606						22,606
Stock-based compensation expense	2,068				2,068
Excess tax benefit from stock-based compensation	209				209
Common stock issued upon settlement of stock-based compensation	2,802			1	2,801
Common stock issued upon settlement of stock-based compensation, shares				168
Shares withheld related to net share settlement of stock-based compensation	-1,237			0	-1,237
Shares withheld related to net share settlement of stock-based compensation, shares				-19
Repurchase of common stock	-18,815			-2	-400	-18,413
Repurchase of common stock, shares	-283			-283
Ending balance at May. 03, 2015	$1,145,011	$0	$0	$660	$245,136	$1,050,016	($150,801)
Ending balance, shares at May. 03, 2015		9,833	9,833	131,978

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	3-May-15	4-May-14
Cash flows from operating activities
Net income	$47,810	$18,981
Items not affecting cash
Depreciation and amortization	16,096	12,460
Stock-based compensation expense	2,068	1,977
Deferred income taxes	0	30,946
Excess tax benefits from stock-based compensation	-209	0
Other, including net changes in other non-cash balances
Prepaid tax installments	2,182	5,900
Other prepaid expenses and other current assets	-3,917	-53
Inventories	-25,797	9,207
Accounts payable	-4,092	-5,805
Accrued inventory liabilities	16,001	1,531
Other accrued liabilities	-1,191	-139
Income taxes payable	-19,428	-236
Accrued compensation and related expenses	-2,853	3,815
Other non-cash balances	-5,730	-7,609
Net cash provided by operating activities	20,940	70,975
Cash flows from investing activities
Purchase of property and equipment	-27,936	-25,447
Net cash used in investing activities	-27,936	-25,447
Cash flows from financing activities
Proceeds from settlement of stock-based compensation	2,802	1,575
Excess tax benefits from stock-based compensation	209	0
Taxes paid related to net share settlement of equity awards	-1,237	-3,224
Repurchase of common stock	-18,815	0
Net cash used in financing activities	-17,041	-1,649
Effect of exchange rate changes on cash and cash equivalents	15,439	9,437
(Decrease) increase in cash and cash equivalents	-8,598	53,316
Cash and cash equivalents, beginning of period	664,479	698,649
Cash and cash equivalents, end of period	$655,881	$751,965

Nature_of_Operations_and_Basis

Nature of Operations and Basis of Presentation	3 Months Ended
	3-May-15
Accounting Policies [Abstract]
Nature of Operations and Basis of Presentation	NATURE OF OPERATIONS AND BASIS OF PRESENTATION
	Nature of operations
	lululemon athletica inc., a Delaware corporation ("lululemon" and, together with its subsidiaries unless the context otherwise requires, the "Company") is engaged in the design, distribution, and retail of healthy lifestyle inspired athletic apparel, which is sold through a chain of company-operated stores, direct to consumer through e-commerce, showrooms, a network of wholesale accounts, outlets and warehouse sales. The Company operates stores in the United States, Canada, Australia, New Zealand, the United Kingdom, and Singapore where 223, 59, 26, five, two, and one company-operated store(s), respectively, were in operation as of May 3, 2015. There were a total of 316 and 302 company-operated stores in operation as of May 3, 2015 and February 1, 2015, respectively.
	Basis of presentation
	The unaudited interim consolidated financial statements as of May 3, 2015 and for the thirteen weeks ended May 3, 2015 and May 4, 2014 are presented in United States dollars and have been prepared by the Company under the rules and regulations of the Securities and Exchange Commission ("SEC"). The financial information is presented in accordance with United States generally accepted accounting principles ("GAAP") for interim financial information and, accordingly, does not include all of the information and footnotes required by GAAP for complete financial statements. The financial information as of February 1, 2015 is derived from the Company's audited consolidated financial statements and notes for the fiscal year ended February 1, 2015, included in Item 8 in the fiscal 2014 Annual Report on Form 10-K filed with the SEC on March 26, 2015. These unaudited interim consolidated financial statements reflect all adjustments which are in the opinion of management necessary to a fair statement of the results for the interim periods presented. These unaudited interim consolidated financial statements should be read in conjunction with the Company's consolidated financial statements and related notes included in the Company's 2014 Annual Report on Form 10-K.
	The Company's fiscal year ends on the Sunday closest to January 31 of the following year, typically resulting in a 52 week year, but occasionally giving rise to an additional week, resulting in a 53 week year. Fiscal 2015 will end on January 31, 2016 and will be a 52 week year.
	The Company's business is affected by the pattern of seasonality common to most retail apparel businesses. Historically, the Company has recognized a significant portion of its operating profit in the fourth fiscal quarter of each year as a result of increased sales during the holiday season.
	Certain comparative figures have been reclassified to conform to the financial presentation adopted for the current year.

Recent_Accounting_Pronouncemen

Recent Accounting Pronouncements	3 Months Ended
	3-May-15
Accounting Policies [Abstract]
Recent Accounting Pronouncements	RECENT ACCOUNTING PRONOUNCEMENTS
	In May 2014, the FASB issued ASC Topic 606, Revenue from Contracts with Customers ("ASC 606"), which supersedes the revenue recognition requirements in ASC Topic 605 Revenue Recognition, including most industry-specific revenue recognition guidance throughout the Industry Topics of the Codification. This guidance requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services, and expands the related disclosure requirements. This guidance will be effective for the Company beginning in its first quarter of fiscal 2017. The Company is currently evaluating the impact that this new guidance may have on its consolidated financial statements. In April 2015, the FASB issued an exposure draft deferring the effective date for public companies to years, and interim periods within those years, beginning after December 15, 2017, with early application permitted.
	In June 2014, the FASB amended ASC Topic 718, Compensation - Stock Compensation ("ASC 718") for share-based payments in which the terms of the award provide that a performance target can be achieved after the requisite service period. The amendments require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. This guidance is effective for public companies for years, and interim periods within those years, beginning on or after December 15, 2015, and early application is permitted. This guidance will be effective for the Company beginning in its first quarter of fiscal 2016. The Company is currently evaluating the impact that this new guidance may have on its consolidated financial statements.
	In April 2015, the FASB amended ASC Subtopic 350-40, Intangibles - Goodwill and Other - Internal-Use Software ("ASC 350-40") to provide guidance to customers about whether a cloud computing arrangement includes a software license. This guidance requires that if a cloud computing arrangement includes a software license, the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. This guidance is effective for public companies for years, and interim periods within those years, beginning on or after December 15, 2015, and early application is permitted. The Company is currently evaluating the impact that this new guidance may have on its consolidated financial statements.

StockBased_Compensation

Stock-Based Compensation	3 Months Ended
	3-May-15
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	STOCK-BASED COMPENSATION
	Stock-based compensation plans
	The Company's employees participate in various stock-based compensation plans, which are provided by the Company directly.
	Stock-based compensation expense charged to income for the plans was $2,068 and $1,977 for the thirteen weeks ended May 3, 2015 and May 4, 2014, respectively. Total unrecognized compensation cost for all stock-based compensation plans was $39,276 at May 3, 2015, which is expected to be recognized over a weighted-average period of 2.7 years.
	Company stock options, performance-based restricted stock units, restricted shares and restricted stock units
	A summary of the Company's stock option, performance-based restricted stock unit, restricted share and restricted stock unit activity as of May 3, 2015 and changes during the thirteen week period then ended is presented below:
		Stock Options				Performance-Based Restricted Stock Units			Restricted Shares			Restricted Stock Units
		Number		Weighted-Average Exercise Price		Number	Weighted-Average Grant Date Fair Value		Number	Weighted-Average Grant Date Fair Value		Number	Weighted-Average Grant Date Fair Value
	Balance at February 1, 2015	879		$	39.25	452	$	59.27	62	$	42.86	186	$	45.75
	Granted	151		64.83		133	64.83		—	—		167	64.85
	Exercised/vested	128		21.83		40	68.45		—	—		4	52.59
	Forfeited	58		53.09		84	65.96		4	38.25		11	50.23
	Balance at May 3, 2015	844		$	45.53	461	$	58.87	58	$	43.12	338	$	54.97
	Exercisable at May 3, 2015	303		$	29.85
	The fair value of each stock option granted is estimated on date of grant using the Black-Scholes model. The assumptions used to calculate the fair value of options granted are evaluated and revised, as necessary, to reflect market conditions and the Company's historical experience. The expected term of the options is based upon historical experience of similar awards, giving consideration for expectations of future employee behavior. Expected volatility is based upon the historical volatility of the Company's common stock for the period corresponding with the expected term of the options. The risk-free interest rate is based on the U.S. Treasury yield curve for the period corresponding with the expected term of the options. The following assumptions were used in calculating the fair value of stock options granted in fiscal 2015:
		Stock Options Granted During
		Fiscal 2015
	Expected term	4.0 years
	Expected volatility	42.73	%
	Risk-free interest rate	0.98	%
	Dividend yield	—	%
	The Company's performance-based restricted stock units are awarded to eligible employees and entitle the grantee to receive a maximum of two shares of common stock per performance-based restricted stock unit if the Company achieves specified performance goals and the grantee remains employed during the vesting period. The fair value of performance-based restricted stock units is based on the closing price of the Company's common stock on the award date. Expense for performance-based restricted stock units is recognized when it is probable that the performance goal will be achieved.
	The fair value of the restricted shares and restricted stock units is based on the closing price of the Company's common stock on the award date.
	Employee stock purchase plan
	The Company's board of directors and stockholders approved the Company's Employee Share Purchase Plan ("ESPP") in September 2007. Contributions are made by eligible employees, subject to certain limits as defined in the ESPP, and the Company matches one-third of the contribution. The maximum number of shares available under the ESPP is 6,000 shares. During the thirteen weeks ended May 3, 2015, there were 22 shares purchased under the ESPP in the open market.

Earnings_Per_Share

Earnings Per Share	3 Months Ended
	3-May-15
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE
	The details of the computation of basic and diluted earnings per share are as follows:
		Thirteen Weeks Ended		Thirteen Weeks Ended
		May 3, 2015		May 4, 2014
	Net income	$	47,810	$	18,981
	Basic weighted-average number of shares outstanding	141,967		145,383
	Effect of stock options assumed exercised	370		478
	Diluted weighted-average number of shares outstanding	142,337		145,861
	Basic earnings per share	$	0.34	$	0.13
	Diluted earnings per share	$	0.34	$	0.13
	The Company's calculation of weighted-average shares includes the common stock of the Company as well as the exchangeable shares. Exchangeable shares are the equivalent of common shares in all material respects. All classes of stock have in effect the same rights and share equally in undistributed net income. For the thirteen weeks ended May 3, 2015 and May 4, 2014, 94 and 264 stock options, respectively, were anti-dilutive to earnings per share and therefore have been excluded from the computation of diluted earnings per share.
	On June 11, 2014, the Company's board of directors approved a program to repurchase shares of the Company's common stock up to an aggregate value of $450,000. The common stock is to be repurchased in the open market at prevailing market prices, with the timing and actual number of shares to be repurchased depending upon market conditions and other factors. The repurchases will be made up until June 2016. During the thirteen weeks ended May 3, 2015, 283 shares were repurchased under the program at a total cost of $18,815. Subsequent to May 3, 2015, and up to June 4, 2015, 368 shares were repurchased at a total cost of $23,273.

Supplementary_Financial_Inform

Supplementary Financial Information	3 Months Ended
	3-May-15
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplementary Financial Information	SUPPLEMENTARY FINANCIAL INFORMATION
	A summary of certain balance sheet accounts is as follows:
		May 3,			February 1,
		2015			2015
	Inventories:
	Finished goods	$	242,777		$	214,113
	Provision to reduce inventory to market value	(6,278		)	(5,997		)
		$	236,499		$	208,116
	Prepaid expenses and other current assets:
	Prepaid tax installments	$	38,574		$	40,547
	Prepaid expenses	28,551			24,124
		$	67,125		$	64,671
	Property and equipment:
	Land	$	62,799		$	60,548
	Buildings	30,454			29,099
	Leasehold improvements	191,301			176,677
	Furniture and fixtures	59,915			55,320
	Computer hardware	37,927			35,457
	Computer software	94,975			84,854
	Equipment and vehicles	12,103			11,908
	Accumulated depreciation	(175,138		)	(157,855		)
		$	314,336		$	296,008
	Goodwill and intangible assets:
	Goodwill	$	25,496		$	25,496
	Changes in foreign currency exchange rates	(824		)	(1,083		)
		24,672			24,413
	Intangibles—reacquired franchise rights	10,150			10,150
	Accumulated amortization	(8,468		)	(8,264		)
	Changes in foreign currency exchange rates	(78		)	(136		)
		1,604			1,750
		$	26,276		$	26,163
	Other accrued liabilities:
	Sales tax collected	$	9,505		$	8,579
	Accrued rent	4,434			5,567
	Other	17,164			17,843
		$	31,103		$	31,989
	Other non-current liabilities:
	Deferred lease liability	$	21,237		$	20,837
	Tenant inducements	24,186			22,294
		$	45,423		$	43,131

Legal_Proceedings

Legal Proceedings	3 Months Ended
	3-May-15
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings	LEGAL PROCEEDINGS
	In addition to the legal matters described below, the Company is, from time to time, involved in routine legal matters incidental to the conduct of its business, including legal matters such as initiation and defense of proceedings to protect intellectual property rights, personal injury claims, product liability claims, and similar matters. The Company believes the ultimate resolution of any such current proceeding will not have a material adverse effect on its continued financial position, results of operations or cash flows.
	On October 25, 2013, plaintiff Laborers' District Council Industry Pension Fund filed a books-and-records action in the Delaware Court of Chancery entitled Laborers' District Council Construction Industry Pension Fund v. lululemon athletica inc., C.A. No. 9039-VCP (Del. Ch.) under 8 Del. C. Sec. 220 based on a demand letter it sent to the Company on or around August 8, 2013 to request certain lululemon records relating to the March 2013 sheer Luon issue, the Company's announcement that its then CEO, Christine Day, intended to resign, and certain stock trades executed by the then-Chairman of the Company's board of directors, Mr. Wilson, prior to the Company's announcement regarding its former CEO, Christine Day. On April 2, 2014, the Court rejected the majority of books and records sought by the plaintiff and ordered the Company to produce a narrow category of documents relating to one trade made by the Company's former Chairman. On June 11, 2014, the Court consolidated this action with the action captioned Hallandale Beach Police Officers and Firefighters' Personnel Retirement Fund v. lululemon athletica inc., C.A. No. 8522-VCP (Del. Ch.), which is described below. On June 13, 2014, Plaintiffs filed a Motion to Enforce the Court's April 2, 2014 Telephonic Rulings and Compel in Camera Inspection of Withheld and Redacted Documents. On April 30, 2015 the Court denied the plaintiff's motion in part.
	On August 12, 2013 and August 23, 2013, plaintiffs Thomas Canty and Tammy Federman filed shareholder derivative actions entitled Canty v. Day, et al., No. 13-CV-5629 (S.D.N.Y.) and Federman v. Day, et al., No. 13-CV-5977 (S.D.N.Y.). Plaintiffs allege that they are acting on behalf of the Company and name as defendants current and former directors and certain officers of the Company challenging certain public disclosures and conduct relating to the March 2013 sheer Luon issue, the June 2013 announcement regarding the resignation of the Company's former CEO, Christine Day, and certain stock trades executed by Mr. Wilson and Ms. Day in the months leading up to that announcement. On April 9, 2014, the Court dismissed all of the plaintiffs' claims due to the plaintiffs' failure to make a pre-suit demand. The plaintiff in the Canty action appealed this decision to the United States Court of Appeals for the Second Circuit. On April 3, 2015 the Court of Appeals dismissed the plaintiff's appeal.
	On July 2, 2013, plaintiff Houssam Alkhoury filed a putative shareholder class action entitled Alkhoury v. lululemon athletica inc., et al., No. 13-CV-4596 (S.D.N.Y.) against lululemon, a certain director and a certain officer of the Company (collectively, "Defendants"). On October 1, 2013, the Court appointed Louisiana Sheriffs' Pension & Relief Fund as Lead Plaintiff and on November 1, 2013, Lead Plaintiff filed a consolidated class action complaint on behalf of a proposed class of purchasers of lululemon stock between September 7, 2012 through June 11, 2013 (the "Complaint"). In its Complaint, Lead Plaintiff asserted causes of action under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 against Defendants based on certain public disclosures made by the Company relating to lululemon's product quality and the March 2013 sheer Luon issue. On January 15, 2014, Lead Plaintiff filed a consolidated amended class action complaint (the "Amended Complaint") on behalf of a proposed class of purchasers of lululemon stock between September 7, 2012 through January 10, 2014. In its Amended Complaint, Lead Plaintiff added new claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 based on certain of lululemon's public disclosures related to the Company's ongoing quality control improvements and the impact of those improvements on the Company's financial results. On April 18, 2014, the Court dismissed all of Lead Plaintiff's claims for failure to state a claim. Lead Plaintiff appealed this decision and on May 15, 2015, the Court of Appeals dismissed the plaintiff's appeal.
	On May 3, 2013, plaintiff Hallandale Beach Police Officers and Firefighters' Personnel Retirement Fund filed a books-and-records action in the Delaware Court of Chancery entitled Hallandale Beach Police Officers and Firefighters' Personnel Retirement Fund v. lululemon athletica inc., C.A. No. 8522-VCP (Del. Ch.) under 8 Del. C. Sec. 220 based on a demand letter it sent to the Company on April 17, 2013 to request certain lululemon records relating to the March 2013 sheer Luon issue and revisions to the Company's executive bonus plan. On June 14, 2013, the plaintiff sent a supplemental demand letter that requested additional records from the Company relating to the Company's announcement that Christine Day intended to resign as the Company's CEO, and certain stock trades executed by the Company's then-Chairman, Mr. Wilson, prior to the Company's announcement regarding Ms. Day. On April 2, 2014, the Court rejected the majority of books and records sought by the plaintiff and ordered the Company to produce a narrow category of documents relating to one trade made by the Company's former Chairman. On June 11, 2014 the Court consolidated this action with the action captioned Laborers' District Council Construction Industry Pension Fund v. lululemon athletica inc., C.A. No. 9039-VCP (Del. Ch.) which is described above. On June 13, 2014 Plaintiffs filed a Motion to Enforce the Court's April 2, 2014 Telephonic Rulings and Compel in Camera Inspection of Withheld and Redacted Documents. On April 30, 2015 the Court denied the plaintiff's motion in part.

Segment_Reporting

Segment Reporting	3 Months Ended
	3-May-15
Segment Reporting [Abstract]
Segment Reporting	SEGMENT REPORTING
	The Company applies ASC Topic 280, Segment Reporting ("ASC 280"), in determining reportable segments for its financial statement disclosure. The Company reports segments based on the financial information it uses in managing its business. The Company's reportable segments are comprised of company-operated stores and direct to consumer. Direct to consumer represents sales from the Company's e-commerce websites. Outlet sales, showroom sales, sales to wholesale accounts, warehouse sales, and sales from temporary locations have been combined into other. Information for these segments is detailed in the table below:
		Thirteen Weeks Ended		Thirteen Weeks Ended
		May 3, 2015		May 4, 2014
	Net revenue:
	Company-operated stores	$	314,094	$	288,101
	Direct to consumer	83,636		65,974
	Other	25,814		30,543
		$	423,544	$	384,618
	Income from operations before general corporate expense:
	Company-operated stores	$	69,223	$	75,697
	Direct to consumer	34,871		27,117
	Other	981		3,276
		105,075		106,090
	General corporate expense	37,039		36,289
	Income from operations	68,036		69,801
	Other income, net	529		1,643
	Income before provision for income taxes	$	68,565	$	71,444
	Capital expenditures:
	Company-operated stores	$	16,844	$	15,867
	Direct to consumer	453		1,112
	Corporate	10,639		8,468
		$	27,936	$	25,447
	Depreciation and amortization:
	Company-operated stores	$	11,277	$	8,396
	Direct to consumer	1,536		1,006
	Corporate	3,283		3,058
		$	16,096	$	12,460

Nature_of_Operations_and_Basis1

Nature of Operations and Basis of Presentation (Policies)	3 Months Ended
	3-May-15
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation
	The unaudited interim consolidated financial statements as of May 3, 2015 and for the thirteen weeks ended May 3, 2015 and May 4, 2014 are presented in United States dollars and have been prepared by the Company under the rules and regulations of the Securities and Exchange Commission ("SEC"). The financial information is presented in accordance with United States generally accepted accounting principles ("GAAP") for interim financial information and, accordingly, does not include all of the information and footnotes required by GAAP for complete financial statements. The financial information as of February 1, 2015 is derived from the Company's audited consolidated financial statements and notes for the fiscal year ended February 1, 2015, included in Item 8 in the fiscal 2014 Annual Report on Form 10-K filed with the SEC on March 26, 2015. These unaudited interim consolidated financial statements reflect all adjustments which are in the opinion of management necessary to a fair statement of the results for the interim periods presented. These unaudited interim consolidated financial statements should be read in conjunction with the Company's consolidated financial statements and related notes included in the Company's 2014 Annual Report on Form 10-K.
New accounting pronouncements	RECENT ACCOUNTING PRONOUNCEMENTS
	In May 2014, the FASB issued ASC Topic 606, Revenue from Contracts with Customers ("ASC 606"), which supersedes the revenue recognition requirements in ASC Topic 605 Revenue Recognition, including most industry-specific revenue recognition guidance throughout the Industry Topics of the Codification. This guidance requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services, and expands the related disclosure requirements. This guidance will be effective for the Company beginning in its first quarter of fiscal 2017. The Company is currently evaluating the impact that this new guidance may have on its consolidated financial statements. In April 2015, the FASB issued an exposure draft deferring the effective date for public companies to years, and interim periods within those years, beginning after December 15, 2017, with early application permitted.
	In June 2014, the FASB amended ASC Topic 718, Compensation - Stock Compensation ("ASC 718") for share-based payments in which the terms of the award provide that a performance target can be achieved after the requisite service period. The amendments require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. This guidance is effective for public companies for years, and interim periods within those years, beginning on or after December 15, 2015, and early application is permitted. This guidance will be effective for the Company beginning in its first quarter of fiscal 2016. The Company is currently evaluating the impact that this new guidance may have on its consolidated financial statements.
	In April 2015, the FASB amended ASC Subtopic 350-40, Intangibles - Goodwill and Other - Internal-Use Software ("ASC 350-40") to provide guidance to customers about whether a cloud computing arrangement includes a software license. This guidance requires that if a cloud computing arrangement includes a software license, the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. This guidance is effective for public companies for years, and interim periods within those years, beginning on or after December 15, 2015, and early application is permitted. The Company is currently evaluating the impact that this new guidance may have on its consolidated financial statements.

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	3 Months Ended
	3-May-15
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Company's Stock Option, Performance Share Unit and Restricted Share Activity	A summary of the Company's stock option, performance-based restricted stock unit, restricted share and restricted stock unit activity as of May 3, 2015 and changes during the thirteen week period then ended is presented below:
		Stock Options				Performance-Based Restricted Stock Units			Restricted Shares			Restricted Stock Units
		Number		Weighted-Average Exercise Price		Number	Weighted-Average Grant Date Fair Value		Number	Weighted-Average Grant Date Fair Value		Number	Weighted-Average Grant Date Fair Value
	Balance at February 1, 2015	879		$	39.25	452	$	59.27	62	$	42.86	186	$	45.75
	Granted	151		64.83		133	64.83		—	—		167	64.85
	Exercised/vested	128		21.83		40	68.45		—	—		4	52.59
	Forfeited	58		53.09		84	65.96		4	38.25		11	50.23
	Balance at May 3, 2015	844		$	45.53	461	$	58.87	58	$	43.12	338	$	54.97
	Exercisable at May 3, 2015	303		$	29.85
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The following assumptions were used in calculating the fair value of stock options granted in fiscal 2015:
		Stock Options Granted During
		Fiscal 2015
	Expected term	4.0 years
	Expected volatility	42.73	%
	Risk-free interest rate	0.98	%
	Dividend yield	—	%

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	3 Months Ended
	3-May-15
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earning Per Share	The details of the computation of basic and diluted earnings per share are as follows:
		Thirteen Weeks Ended		Thirteen Weeks Ended
		May 3, 2015		May 4, 2014
	Net income	$	47,810	$	18,981
	Basic weighted-average number of shares outstanding	141,967		145,383
	Effect of stock options assumed exercised	370		478
	Diluted weighted-average number of shares outstanding	142,337		145,861
	Basic earnings per share	$	0.34	$	0.13
	Diluted earnings per share	$	0.34	$	0.13

Supplementary_Financial_Inform1

Supplementary Financial Information (Tables)	3 Months Ended
	3-May-15
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Certain Balance Sheet Accounts	A summary of certain balance sheet accounts is as follows:
		May 3,			February 1,
		2015			2015
	Inventories:
	Finished goods	$	242,777		$	214,113
	Provision to reduce inventory to market value	(6,278		)	(5,997		)
		$	236,499		$	208,116
	Prepaid expenses and other current assets:
	Prepaid tax installments	$	38,574		$	40,547
	Prepaid expenses	28,551			24,124
		$	67,125		$	64,671
	Property and equipment:
	Land	$	62,799		$	60,548
	Buildings	30,454			29,099
	Leasehold improvements	191,301			176,677
	Furniture and fixtures	59,915			55,320
	Computer hardware	37,927			35,457
	Computer software	94,975			84,854
	Equipment and vehicles	12,103			11,908
	Accumulated depreciation	(175,138		)	(157,855		)
		$	314,336		$	296,008
	Goodwill and intangible assets:
	Goodwill	$	25,496		$	25,496
	Changes in foreign currency exchange rates	(824		)	(1,083		)
		24,672			24,413
	Intangibles—reacquired franchise rights	10,150			10,150
	Accumulated amortization	(8,468		)	(8,264		)
	Changes in foreign currency exchange rates	(78		)	(136		)
		1,604			1,750
		$	26,276		$	26,163
	Other accrued liabilities:
	Sales tax collected	$	9,505		$	8,579
	Accrued rent	4,434			5,567
	Other	17,164			17,843
		$	31,103		$	31,989
	Other non-current liabilities:
	Deferred lease liability	$	21,237		$	20,837
	Tenant inducements	24,186			22,294
		$	45,423		$	43,131

Segment_Reporting_Tables

Segment Reporting (Tables)	3 Months Ended
	3-May-15
Segment Reporting [Abstract]
Segment Reporting	Information for these segments is detailed in the table below:
		Thirteen Weeks Ended		Thirteen Weeks Ended
		May 3, 2015		May 4, 2014
	Net revenue:
	Company-operated stores	$	314,094	$	288,101
	Direct to consumer	83,636		65,974
	Other	25,814		30,543
		$	423,544	$	384,618
	Income from operations before general corporate expense:
	Company-operated stores	$	69,223	$	75,697
	Direct to consumer	34,871		27,117
	Other	981		3,276
		105,075		106,090
	General corporate expense	37,039		36,289
	Income from operations	68,036		69,801
	Other income, net	529		1,643
	Income before provision for income taxes	$	68,565	$	71,444
	Capital expenditures:
	Company-operated stores	$	16,844	$	15,867
	Direct to consumer	453		1,112
	Corporate	10,639		8,468
		$	27,936	$	25,447
	Depreciation and amortization:
	Company-operated stores	$	11,277	$	8,396
	Direct to consumer	1,536		1,006
	Corporate	3,283		3,058
		$	16,096	$	12,460

Nature_of_Operations_and_Basis2

Nature of Operations and Basis of Presentation - Additional Information (Detail)	3-May-15	Feb. 01, 2015
	Store	Store
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of stores	316	302
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of stores	223
Canada [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of stores	59
Australia [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of stores	26
New Zealand [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of stores	5
United Kingdom [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of stores	2
Singapore [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of stores	1

StockBased_Compensation_Additi

Stock-Based Compensation - Additional Information (Detail) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	3-May-15	4-May-14
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$2,068	$1,977
Total unrecognized compensation cost	$39,276
Expected weighted-average period of compensation cost	2 years 8 months 12 days
Common stock per performance share unit	2
ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Company match contribution	33.33%
Maximum shares available under ESPP	6,000,000
Shares purchased under ESPP	22,000

StockBased_Compensation_Summar

Stock-Based Compensation - Summary of Company's Stock Option, Performance Share Unit and Restricted Share Activity (Detail) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	3-May-15
Stock Options [Member]
Number
Number of Stock Options, Beginning Balance	879
Number of Stock Options, Granted	151
Number of Stock Options, Exercised/vested	128
Number of Stock Options, Forfeited	58
Number of Stock Options, Ending Balance	844
Number of Stock Options, Exercisable	303
Weighted-Average Exercise Price
Weighted-Average Exercise Price, Options, Beginning Balance (in dollars per share)	$39.25
Weighted-Average Exercise Price, Options, Granted (in dollars per share)	$64.83
Weighted-Average Exercise Price, Options, Exercised/vested (in dollars per share)	$21.83
Weighted-Average Exercise Price, Options, Forfeited (in dollars per share)	$53.09
Weighted-Average Exercise Price, Options, Ending Balance (in dollars per share)	$45.53
Weighted-Average Exercise Price, Options, Exercisable (in dollars per share)	$29.85
Performance-Based Restricted Stock Units [Member]
Number of Performance-Based Restricted Stock Units and Restricted Shares
Number of Stock, Beginning Balance	452
Number of Stock, Granted	133
Number of Stock, Exercised/vested	40
Number of Stock, Forfeited	84
Number of Stock, Ending Balance	461
Weighted-Average Grant Date Fair Value
Weighted-Average Grant Date Fair Value, Beginning Balance (in dollars per share)	$59.27
Weighted-Average Grant Date Fair Value, Granted (in dollars per share)	$64.83
Weighted-Average Grant Date Fair Value, Exercised/vested (in dollars per share)	$68.45
Weighted-Average Grant Date Fair Value, Forfeited (in dollars per share)	$65.96
Weighted-Average Grant Date Fair Value, Ending Balance (in dollars per share)	$58.87
Restricted Shares [Member]
Number of Performance-Based Restricted Stock Units and Restricted Shares
Number of Stock, Beginning Balance	62
Number of Stock, Granted	0
Number of Stock, Exercised/vested	0
Number of Stock, Forfeited	4
Number of Stock, Ending Balance	58
Weighted-Average Grant Date Fair Value
Weighted-Average Grant Date Fair Value, Beginning Balance (in dollars per share)	$42.86
Weighted-Average Grant Date Fair Value, Granted (in dollars per share)	$0
Weighted-Average Grant Date Fair Value, Exercised/vested (in dollars per share)	$0
Weighted-Average Grant Date Fair Value, Forfeited (in dollars per share)	$38.25
Weighted-Average Grant Date Fair Value, Ending Balance (in dollars per share)	$43.12
Restricted Stock Units [Member]
Number of Performance-Based Restricted Stock Units and Restricted Shares
Number of Stock, Beginning Balance	186
Number of Stock, Granted	167
Number of Stock, Exercised/vested	4
Number of Stock, Forfeited	11
Number of Stock, Ending Balance	338
Weighted-Average Grant Date Fair Value
Weighted-Average Grant Date Fair Value, Beginning Balance (in dollars per share)	$45.75
Weighted-Average Grant Date Fair Value, Granted (in dollars per share)	$64.85
Weighted-Average Grant Date Fair Value, Exercised/vested (in dollars per share)	$52.59
Weighted-Average Grant Date Fair Value, Forfeited (in dollars per share)	$50.23
Weighted-Average Grant Date Fair Value, Ending Balance (in dollars per share)	$54.97

StockBased_Compensation_Fair_V

Stock-Based Compensation - Fair Value Assumptions (Details)	3 Months Ended
	3-May-15
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Expected term	4 years
Expected volatility	42.73%
Risk-free interest rate	0.98%
Dividend yield	0.00%

Earnings_Per_Share_Computation

Earnings Per Share - Computation of Basic and Diluted Earning Per Share (Detail) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	3-May-15	4-May-14
Earnings Per Share [Abstract]
Net income	$47,810	$18,981
Basic weighted-average number of shares outstanding (in shares)	141,967	145,383
Effect of stock options assumed exercised (in shares)	370	478
Diluted weighted-average number of shares outstanding (in shares)	142,337	145,861
Basic earnings per share (in dollars per share)	$0.34	$0.13
Diluted earnings per share (in dollars per share)	$0.34	$0.13

Earnings_Per_Share_Additional_

Earnings Per Share - Additional Information (Detail) (USD $)	3 Months Ended		1 Months Ended
Share data in Thousands, unless otherwise specified	3-May-15	4-May-14	Jun. 04, 2015	Jun. 11, 2014
Earnings Per Share [Abstract]
Anti-dilutive stock options (in shares)	94	264
Aggregate amount authorized for stock repurchase				$450,000,000
Equity, Class of Treasury Stock [Line Items]
Repurchase of common stock (in shares)	283
Repurchase of common stock	18,815,000
Subsequent Event [Member]
Equity, Class of Treasury Stock [Line Items]
Repurchase of common stock (in shares)			368
Repurchase of common stock			$23,273,000

Supplementary_Financial_Inform2

Supplementary Financial Information - Summary of Certain Balance Sheet Accounts (Detail) (USD $)	3-May-15	Feb. 01, 2015
In Thousands, unless otherwise specified
Inventories:
Finished goods	$242,777	$214,113
Provision to reduce inventory to market value	-6,278	-5,997
Total inventories	236,499	208,116
Prepaid expenses and other current assets:
Prepaid tax installments	38,574	40,547
Prepaid expenses	28,551	24,124
Total prepaid expense and other current assets	67,125	64,671
Property and equipment:
Land	62,799	60,548
Buildings	30,454	29,099
Leasehold improvements	191,301	176,677
Furniture and fixtures	59,915	55,320
Computer hardware	37,927	35,457
Computer software	94,975	84,854
Equipment and vehicles	12,103	11,908
Accumulated depreciation	-175,138	-157,855
Total property and equipment	314,336	296,008
Goodwill and intangible assets:
Goodwill	25,496	25,496
Changes in foreign currency exchange rates	-824	-1,083
Goodwill, net	24,672	24,413
Intangiblesbreacquired franchise rights	10,150	10,150
Accumulated amortization	-8,468	-8,264
Changes in foreign currency exchange rates	-78	-136
Total intangible assets	1,604	1,750
Goodwill and intangible assets, net	26,276	26,163
Other accrued liabilities:
Sales tax collected	9,505	8,579
Accrued rent	4,434	5,567
Other	17,164	17,843
Total accrued liabilities	31,103	31,989
Other non-current liabilities:
Deferred lease liability	21,237	20,837
Tenant inducements	24,186	22,294
Other non-current liabilities	$45,423	$43,131

Segment_Reporting_Detailed_Seg

Segment Reporting - Detailed Segments Information (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	3-May-15	4-May-14
Net revenue:
Net revenue	$423,544	$384,618
Income from operations before general corporate expense:
Income from operations before general corporate expense	105,075	106,090
General corporate expense	37,039	36,289
Income from operations	68,036	69,801
Other income, net	529	1,643
Income before provision for income taxes	68,565	71,444
Capital expenditures:
Capital expenditures	27,936	25,447
Depreciation and amortization:
Depreciation and amortization	16,096	12,460
Operating Segments [Member] | Company-Operated Stores [Member]
Net revenue:
Net revenue	314,094	288,101
Income from operations before general corporate expense:
Income from operations before general corporate expense	69,223	75,697
Capital expenditures:
Capital expenditures	16,844	15,867
Depreciation and amortization:
Depreciation and amortization	11,277	8,396
Operating Segments [Member] | Direct To Consumer [Member]
Net revenue:
Net revenue	83,636	65,974
Income from operations before general corporate expense:
Income from operations before general corporate expense	34,871	27,117
Capital expenditures:
Capital expenditures	453	1,112
Depreciation and amortization:
Depreciation and amortization	1,536	1,006
Operating Segments [Member] | Other [Member]
Net revenue:
Net revenue	25,814	30,543
Income from operations before general corporate expense:
Income from operations before general corporate expense	981	3,276
Corporate, Non-Segment [Member] | Corporate [Member]
Capital expenditures:
Capital expenditures	10,639	8,468
Depreciation and amortization:
Depreciation and amortization	$3,283	$3,058