Lululemon Athletica (LULU) 10-Q 6 Dec 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Oct. 29, 2017	Dec. 01, 2017
Document Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 29, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Trading Symbol	LULU
Entity Registrant Name	lululemon athletica inc.
Entity Central Index Key	1,397,187
Current Fiscal Year End Date	--01-28
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		125,599,066

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 29, 2017	Jan. 29, 2017
Current assets
Cash and cash equivalents	$ 650,054	$ 734,846
Accounts receivable	21,281	9,200
Inventories	396,892	298,432
Prepaid and receivable income taxes	77,625	81,190
Other prepaid expenses and other current assets	42,496	39,069
Total current assets	1,188,348	1,162,737
Property and equipment, net	440,403	423,499
Goodwill and intangible assets, net	24,476	24,557
Deferred income tax assets	37,583	26,256
Other non-current assets	29,639	20,492
Total assets	1,720,449	1,657,541
Current liabilities
Accounts payable	14,113	24,846
Accrued inventory liabilities	23,420	8,601
Accrued compensation and related expenses	62,387	55,238
Income taxes payable	4,403	30,290
Unredeemed gift card liability	52,500	70,454
Lease termination liabilities	12,164	0
Other current liabilities	71,590	52,561
Total current liabilities	240,577	241,990
Deferred income tax liabilities	0	7,262
Other non-current liabilities	58,596	48,316
Total liabilities	299,173	297,568
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; 9,781 and 9,781 issued and outstanding	0	0
Special voting stock, $0.000005 par value: 60,000 shares authorized; 9,781 and 9,781 issued and outstanding	0	0
Common stock, $0.005 par value: 400,000 shares authorized; 125,592 and 127,304 issued and outstanding	628	637
Additional paid-in capital	275,871	266,622
Retained earnings	1,336,216	1,294,214
Accumulated other comprehensive loss	(191,439)	(201,500)
Total stockholders' equity	1,421,276	1,359,973
Total liabilities and stockholders' equity	$ 1,720,449	$ 1,657,541

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Oct. 29, 2017	Jan. 29, 2017
Statement of Financial Position [Abstract]
Undesignated preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Undesignated preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Undesignated preferred stock, shares issued (in shares)	0	0
Undesignated preferred stock, shares outstanding (in shares)	0	0
Exchangeable stock, shares authorized (in shares)	60,000,000	60,000,000
Exchangeable stock, shares issued (in shares)	9,781,000	9,781,000
Exchangeable stock, shares outstanding (in shares)	9,781,000	9,781,000
Special voting stock, par value (in dollars per share)	$ 0.000005	$ 0.000005
Special voting stock, shares authorized (in shares)	60,000,000	60,000,000
Special voting stock, shares issued (in shares)	9,781,000	9,781,000
Special voting stock, shares outstanding (in shares)	9,781,000	9,781,000
Common stock, par value (in dollars per share)	$ 0.005	$ 0.005
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares issued (in shares)	125,592,000	127,304,000
Common stock, shares outstanding (in shares)	125,592,000	127,304,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2017	Oct. 30, 2016	Oct. 29, 2017	Oct. 30, 2016
Income Statement [Abstract]
Net revenue	$ 619,018	$ 544,416	$ 1,720,379	$ 1,554,452
Cost of goods sold	297,056	265,990	844,100	782,734
Gross profit	321,962	278,426	876,279	771,718
Selling, general and administrative expenses	215,367	185,451	640,032	547,195
Asset impairment and restructuring costs	21,007	0	36,524	0
Income from operations	85,588	92,975	199,723	224,523
Other income (expense), net	1,052	628	2,771	720
Income before income tax expense	86,640	93,603	202,494	225,243
Income tax expense	27,696	25,318	63,593	57,997
Net income	58,944	68,285	138,901	167,246
Other comprehensive (loss) income:
Foreign currency translation adjustment	(31,018)	(24,748)	10,061	20,762
Comprehensive income	$ 27,926	$ 43,537	$ 148,962	$ 188,008
Basic earnings per share (in dollars per share)	$ 0.44	$ 0.50	$ 1.02	$ 1.22
Diluted earnings per share (in dollars per share)	$ 0.43	$ 0.50	$ 1.02	$ 1.22
Basic weighted-average number of shares outstanding (in shares)	135,364	137,033	136,191	137,095
Diluted weighted-average number of shares outstanding (in shares)	135,578	137,237	136,357	137,321

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - 9 months ended Oct. 29, 2017 - USD ($) shares in Thousands, $ in Thousands	Total	Exchangeable Stock	Special Voting Stock	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Jan. 29, 2017		9,781	9,781	127,304
Beginning balance at Jan. 29, 2017	$ 1,359,973		$ 0	$ 637	$ 266,622	$ 1,294,214	$ (201,500)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	138,901					138,901
Foreign currency translation adjustment	10,061						10,061
Stock-based compensation expense	13,048				13,048
Common stock issued upon settlement of stock-based compensation (in shares)				194
Common stock issued upon settlement of stock-based compensation	1,648			$ 1	1,647
Shares withheld related to net share settlement of stock-based compensation (in shares)				(58)
Shares withheld related to net share settlement of stock-based compensation	$ (3,086)			$ 0	(3,086)
Repurchase of common stock (in shares)	(1,800)			(1,848)
Repurchase of common stock	$ (99,269)			$ (10)	(2,360)	(96,899)
Ending balance (in shares) at Oct. 29, 2017		9,781	9,781	125,592
Ending balance at Oct. 29, 2017	$ 1,421,276		$ 0	$ 628	$ 275,871	$ 1,336,216	$ (191,439)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Oct. 29, 2017	Oct. 30, 2016
Cash flows from operating activities
Net income	$ 138,901	$ 167,246
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	80,129	63,641
Deferred income taxes	(18,385)	0
Stock-based compensation expense	13,048	12,939
Asset impairment for ivivva restructuring	11,593	0
Settlement of derivatives not designated in a hedging relationship	4,178	0
Changes in operating assets and liabilities:
Inventories	(95,475)	(73,660)
Prepaid and receivable income taxes	3,565	(30,580)
Other prepaid expenses and other current assets	(14,885)	(13,471)
Other non-current assets	8,126	(8,804)
Accounts payable	(11,141)	(1,558)
Accrued inventory liabilities	14,602	5,270
Accrued compensation and related expenses	6,579	8,835
Income taxes payable	(26,420)	(17,563)
Unredeemed gift card liability	(18,272)	(14,123)
Lease termination liabilities	12,164	0
Other accrued and non-current liabilities	23,002	487
Net cash provided by operating activities	131,309	98,659
Cash flows from investing activities
Purchase of property and equipment	(107,128)	(106,168)
Settlement of net investment hedges	(4,599)	0
Other investing activities	(8,324)	0
Net cash used in investing activities	(120,051)	(106,168)
Cash flows from financing activities
Proceeds from settlement of stock-based compensation	1,648	5,959
Taxes paid related to net share settlement of stock-based compensation	(3,086)	(2,691)
Repurchase of common stock	(99,269)	(28,556)
Net cash used in financing activities	(100,707)	(25,288)
Effect of exchange rate changes on cash and cash equivalents	4,657	11,701
(Decrease) increase in cash and cash equivalents	(84,792)	(21,096)
Cash and cash equivalents, beginning of period	734,846	501,482
Cash and cash equivalents, end of period	$ 650,054	$ 480,386

NATURE OF OPERATIONS AND BASIS

NATURE OF OPERATIONS AND BASIS OF PRESENTATION	9 Months Ended
	Oct. 29, 2017
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, outlets, showrooms, temporary locations, sales to wholesale accounts, license and supply arrangements, and through warehouse sales. Its apparel is marketed under the lululemon and ivivva brand names. The Company operates stores in the United States, Canada, Australia, the United Kingdom, China, New Zealand, Hong Kong, Singapore, South Korea, Germany, Ireland, Japan, Puerto Rico, Switzerland, and Taiwan. There were a total of 388 and 406 company-operated stores in operation as of October 29, 2017 and January 29, 2017 , respectively. On June 1, 2017, the Company announced a plan to restructure its ivivva operations. On August 20, 2017 , as part of this plan, the Company closed 48 of its 55 ivivva branded company-operated stores. The seven remaining ivivva branded stores remain in operation and are not expected to close. All of the Company's ivivva branded showrooms and other temporary locations have been closed. The Company continues to offer ivivva branded products on its e-commerce websites. Please refer to Note 6 of these unaudited interim consolidated financial statements for further details regarding the ivivva restructuring. Basis of presentation The unaudited interim consolidated financial statements as of October 29, 2017 and for the quarters and three quarters ended October 29, 2017 and October 30, 2016 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 January 29, 2017 is derived from the Company's audited consolidated financial statements and related notes for the fiscal year ended January 29, 2017 , which are included in Item 8 in the Company's fiscal 2016 Annual Report on Form 10-K filed with the SEC on March 29, 2017 . 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 Item 8 in the Company's fiscal 2016 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 2017 will end on January 28, 2018 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 net revenue during the holiday season. Certain comparative figures have been reclassified to conform to the financial presentation adopted for the current year.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Oct. 29, 2017
Accounting Policies [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, Revenue from Contracts with Customers ("ASC 606"). This ASU supersedes the revenue recognition requirements in ASC Topic 605 Revenue Recognition , including most industry-specific revenue recognition guidance. ASU 2014-09 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. In 2015, the FASB deferred the effective date for this guidance, and in 2016, the FASB issued several updates that clarify the guidance in this topic. ASC 606 may be adopted either on a full retrospective basis or using a modified retrospective method with a cumulative adjustment to equity. This guidance will be adopted by the Company beginning in its first quarter of fiscal 2018. The Company continues to evaluate the impact that this new guidance may have on its consolidated financial statements, and the method of retrospective adoption that it will elect, but does not expect ASC 606 to materially impact the amount, or timing, of its revenue recognition. Under the new requirements, the Company expects to recognize its provision for sales returns on a gross basis, rather than a net basis on the consolidated balance sheets. In July 2015, the FASB amended ASC Topic 330, Inventory to simplify the measurement of inventory. The amendments require that an entity measure inventory at the lower of cost and net realizable value instead of the lower of cost and market. This guidance became effective for the Company the first quarter of fiscal 2017 and the adoption did not impact its consolidated financial statements. In February 2016, the FASB issued ASC Topic 842, Leases ("ASC 842") to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. Under the new guidance, lessees are required to recognize a lease liability, which represents the discounted obligation to make future minimum lease payments, and a corresponding right-of-use asset on the balance sheet for most leases. This guidance will be effective for the Company beginning in its first quarter of fiscal 2019, with early application permitted. The Company will adopt ASC 842 in its first quarter of fiscal 2019. While the Company is currently evaluating the impact that this new guidance will have on its consolidated financial statements, it is expected that the primary impact upon adoption will be the recognition, on a discounted basis, of the Company's minimum commitments under noncancelable operating leases as right of use assets and obligations on the consolidated balance sheets. It is expected that this will result in a significant increase in assets and liabilities on the consolidated balance sheets. In March 2016, the FASB amended ASC Topic 718, Stock Compensation simplifying the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The new guidance also allows an entity to account for forfeitures when they occur. The Company adopted this amendment in the first quarter of fiscal 2017 and elected to continue to estimate expected forfeitures. The Company is now required to include excess tax benefits and deficiencies as a component of income tax expense, rather than a component of stockholders' equity. Additionally, the Company retrospectively adjusted its consolidated statement of cash flows for the three quarters ended October 30, 2016 to reclassify excess tax benefits of $1.3 million from financing activities to operating activities. In August 2017, the FASB amended ASC 815, Derivatives and Hedging to more closely align hedge accounting with companies' risk management strategies, simplify the application of hedge accounting, and increase transparency as to the scope and results of hedging programs. It will make more financial and nonfinancial hedging strategies eligible for hedge accounting. It also amends the presentation and disclosure requirements and changes how companies assess effectiveness. This guidance will be effective for the Company beginning in its first quarter of fiscal 2019, with early application permitted. The Company is currently evaluating the impact that this new guidance may have on its consolidated financial statements.

STOCK-BASED COMPENSATION AND BE

STOCK-BASED COMPENSATION AND BENEFIT PLANS	9 Months Ended
	Oct. 29, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION AND BENEFIT PLANS	STOCK-BASED COMPENSATION AND BENEFIT PLANS Stock-based compensation plans The Company's eligible 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 $13.0 million and $12.9 million for the three quarters ended October 29, 2017 and October 30, 2016 , respectively. Total unrecognized compensation cost for all stock-based compensation plans was $40.2 million at October 29, 2017 , which is expected to be recognized over a weighted-average period of 2.3 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 October 29, 2017 , and changes during the first three quarters 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 (In thousands, except per share amounts) Balance at January 29, 2017 918 $ 59.20 390 $ 61.05 14 $ 70.54 360 $ 62.99 Granted 614 52.16 191 52.21 24 52.38 332 52.65 Exercised/released 40 40.70 — — 14 70.29 131 60.74 Forfeited 247 58.18 224 54.72 3 51.72 111 57.18 Balance at October 29, 2017 1,245 $ 56.53 357 $ 60.30 21 $ 52.45 450 $ 57.46 Exercisable at October 29, 2017 350 $ 56.14 The fair value of each stock option granted is estimated on the date of grant using the Black-Scholes model. The assumptions used to calculate the fair value of the 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 the historical experience of similar awards, giving consideration to 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 the first three quarters of fiscal 2017 : Three Quarters Ended Expected term 4.00 years Expected volatility 38.28 % Risk-free interest rate 1.72 % 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 share 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 defined in the ESPP, and the Company matches one-third of the contribution. The maximum number of shares authorized to be purchased under the ESPP is 6.0 million shares. All shares purchased under the ESPP are purchased in the open market. During the quarter ended October 29, 2017 , there were 34.2 thousand shares purchased. Defined contribution pension plans During the second quarter of fiscal 2016, the Company began offering defined contribution pension plans to its eligible employees in Canada and the United States. Participating employees may elect to defer and contribute a portion of their eligible compensation to a plan up to limits stated in the plan documents, not to exceed the dollar amounts set by applicable laws. The Company matches 50% to 75% of the contribution depending on the participant's length of service, and the contribution is subject to a two year vesting period. The Company's net expense for the defined contribution plans was $3.9 million and $1.6 million in the first three quarters of fiscal 2017 and fiscal 2016 , respectively.

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	9 Months Ended
	Oct. 29, 2017
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENT	FAIR VALUE MEASUREMENT 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. Fair value measurements are made using a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value: • Level 1 - defined as observable inputs such as quoted prices in active markets; • Level 2 - defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and • Level 3 - defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The fair value measurement is categorized in its entirety by reference to its lowest level of significant input. As of October 29, 2017 , the Company held certain assets and liabilities that are required to be measured at fair value on a recurring basis: October 29, 2017 Level 1 Level 2 Level 3 (In thousands) Net forward currency contract (liabilities) assets $ (583 ) $ — $ (583 ) $ — The Company records cash and cash equivalents, accounts receivable, accounts payable, and accrued liabilities at cost. The carrying values of these instruments approximate their fair value due to their short-term maturities. In addition to assets and liabilities that are recorded at fair value on a recurring basis, the Company has impaired certain long-lived assets and recorded them at their estimated fair value on a non-recurring basis. The fair value of these long-lived assets was determined using Level 3 inputs, principally the present value of the estimated future cash flows expected from their use and eventual disposition. As a result of the ivivva restructuring, the Company recorded lease termination liabilities of $12.2 million , determined using Level 3 inputs based on remaining lease rentals and reduced by estimated sublease income.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	9 Months Ended
	Oct. 29, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS Foreign exchange risk The Company is exposed to risks associated with changes in foreign currency exchange rates and uses derivative financial instruments to manage its exposure to certain of these foreign currency exchange rate risks. The Company does not enter into derivative contracts for speculative or trading purposes. The Company currently hedges against changes in the Canadian dollar to U.S. dollar exchange rate using forward currency contracts. Net investment hedges The Company is exposed to foreign exchange gains and losses which arise on translation of its foreign subsidiaries' balance sheets into U.S. dollars. These gains and losses are recorded as a foreign currency translation adjustment in accumulated other comprehensive income or loss within stockholders' equity. The Company holds a significant portion of its assets in Canada and during the three quarters ended October 29, 2017 , it entered into forward currency contracts designed to hedge a portion of the foreign currency exposure that arises on translation of a Canadian subsidiary into U.S. dollars. These forward currency contracts are designated as net investment hedges. The effective portions of the hedges are reported in accumulated other comprehensive income or loss and will subsequently be reclassified to net earnings in the period in which the hedged investment is either sold or substantially liquidated. The Company assesses hedge effectiveness based on changes in forward rates. The Company recorded no ineffectiveness from net investment hedges for the three quarters ended October 29, 2017 . The Company classifies the cash flows at settlement of its net investment hedges within investing activities in the consolidated statements of cash flows. Derivatives not designated as hedging instruments The Company is exposed to gains and losses arising from changes in foreign exchange rates associated with transactions which are undertaken by its subsidiaries in currencies other than their functional currency. Such transactions include intercompany transactions and inventory purchases. These transactions result in the recognition of certain foreign currency denominated monetary assets and liabilities which are remeasured to the quarter-end or settlement date exchange rate. The resulting foreign currency gains and losses are recorded in selling, general and administrative expenses. During the three quarters ended October 29, 2017 the Company entered into certain forward currency contracts designed to economically hedge the foreign exchange revaluation gains and losses that are recognized by its Canadian subsidiaries on U.S. dollar denominated monetary assets and liabilities. The Company has not applied hedge accounting to these instruments and the change in fair value of these derivatives is recorded within selling, general and administrative expenses. The Company classifies the cash flows at settlement of its forward currency contracts which are not designated in hedging relationships within operating activities in the consolidated statements of cash flows. Outstanding notional amounts The Company had foreign exchange forward contracts outstanding with the following notional amounts: October 29, 2017 October 30, 2016 (In thousands) Derivatives designated as net investment hedges $ 50,000 $ — Derivatives not designated in a hedging relationship 40,000 — The forward currency contracts designated as net investment hedges mature in January 2018. The forward currency contracts not designated in a hedging relationship mature on different dates between November 2017 and December 2017. Quantitative disclosures about derivative financial instruments The Company presents its derivative assets and derivative liabilities at their gross fair values within other prepaid expenses and other current assets and other current liabilities on the consolidated balance sheets. However, the Company's Master International Swap Dealers Association, Inc., Agreements and other similar arrangements allow net settlements under certain conditions. As of October 29, 2017 , there were derivative assets of $1.2 million and derivative liabilities of $1.5 million subject to enforceable netting arrangements. The fair values of forward currency contracts were as follows: October 29, 2017 October 30, 2016 (In thousands) Derivatives designated as net investment hedges, recognized within: Other current liabilities $ 2,902 $ — Derivatives not designated in a hedging relationship, recognized within: Other prepaid expenses and other current assets 2,319 — The pre-tax gains and losses on foreign exchange forward contracts recorded in accumulated other comprehensive income and in the consolidated statement of operations, are as follows: Quarter Ended Three Quarters Ended October 29, 2017 October 30, 2016 October 29, 2017 October 30, 2016 (In thousands) Derivatives designated as net investment hedges: Gain (loss) recognized in other comprehensive income $ 1,424 $ — $ (7,501 ) $ — Derivatives not designated in a hedging relationship: (Loss) gain recognized in selling, general and administrative expenses (1,137 ) — 6,497 — No gains or losses have been reclassified from accumulated other comprehensive income into net income for derivative financial instruments in a net investment hedging relationship, as the Company has not sold or liquidated (or substantially liquidated) its hedged subsidiary. Credit risk The Company is exposed to credit-related losses in the event of nonperformance by the counterparties to the forward currency contracts. The credit risk amount is the Company's unrealized gains on its derivative instruments, based on foreign currency rates at the time of nonperformance. The Company's forward currency contracts are entered into with large, reputable financial institutions that are monitored by the Company for counterparty risk. The Company's derivative contracts contain certain credit risk-related contingent features. Under certain circumstances, including an event of default, bankruptcy, termination, and cross default under the Company's revolving credit facility, the Company may be required to make immediate payment for outstanding liabilities under its derivative contracts.

ASSET IMPAIRMENT AND RESTRUCTUR

ASSET IMPAIRMENT AND RESTRUCTURING	9 Months Ended
	Oct. 29, 2017
Restructuring and Related Activities [Abstract]
ASSET IMPAIRMENT AND RESTRUCTURING	ASSET IMPAIRMENT AND RESTRUCTURING On June 1, 2017, the Company announced a plan to restructure its ivivva operations. On August 20, 2017 , as part of this plan, the Company closed 48 of its 55 ivivva branded company-operated stores. The seven remaining ivivva branded stores remain in operation and are not expected to close. All of the Company's ivivva branded showrooms and other temporary locations have been closed. The Company continues to offer ivivva branded products on its e-commerce websites. As a result of the closures, the Company recognized aggregate pre-tax charges of $45.4 million during the three quarters ended October 29, 2017 . The restructuring was substantially completed during the third quarter of fiscal 2017. A summary of the pre-tax charges recognized during the third quarter and the first three quarters of fiscal 2017 in connection with the Company's restructuring of its ivivva operations is as follows: Quarter Ended Three Quarters Ended (In thousands) Costs recorded in cost of goods sold: Provision to reduce inventories to net realizable value $ 1,934 $ 4,838 Loss (reversal of loss) on committed inventory purchases (2,286 ) 250 Accelerated depreciation 1,530 3,753 1,178 8,841 Costs recorded in operating expenses: Lease termination costs 19,441 19,884 Impairment of property and equipment — 11,593 Employee related costs 804 4,000 Other restructuring costs 762 1,047 Asset impairment and restructuring costs 21,007 36,524 Restructuring and related costs $ 22,185 $ 45,365 Income tax recoveries of $5.8 million and $11.9 million were recorded on the above items in the third quarter and the first three quarters of fiscal 2017 , respectively. These income tax recoveries are based on the expected annual tax rate of the applicable tax jurisdictions. Costs recorded in cost of goods sold During the first three quarters of fiscal 2017 , the Company recognized expenses of $8.8 million in cost of goods sold as a result of the restructuring of its ivivva operations. This included $4.8 million to reduce inventories to their estimated net realizable value, and $0.3 million for the losses the Company expects to incur on certain firm inventory and fabric purchase commitments. The liability for the expected losses is included within accrued inventory liabilities on the consolidated balance sheets. During the second and third quarters of fiscal 2017, the Company took delivery of inventory that it had previously committed to purchase. As a result, there was a reduction in the Company's liability for expected losses on committed inventory purchases and a corresponding increase in its provision to reduce inventories to net realizable value. The Company also recorded accelerated depreciation charges of $3.8 million during the first three quarters of fiscal 2017 , primarily related to leasehold improvements and furniture and fixtures for stores that closed during the third quarter of fiscal 2017. Costs recorded in operating expenses The Company recognized asset impairment and restructuring costs of $36.5 million during the first three quarters of fiscal 2017 as a result of the restructuring of its ivivva operations. As a result of the plan to close the majority of the ivivva branded locations, the long-lived assets of each ivivva branded location were tested for impairment as of April 30, 2017. For impaired locations, a loss was recognized representing the difference between the net book value of the long-lived assets and their estimated fair value. Impairment losses totaling $11.6 million were recognized during the first quarter of fiscal 2017 . These losses primarily relate to leasehold improvements and furniture and fixtures of the company-operated stores segment. These assets were retired during the third quarter of fiscal 2017 in conjunction with the closures of the company-operated stores. The fair value of the long-lived assets for each store was determined using Level 3 inputs, principally the present value of the estimated future cash flows expected from their use and eventual disposition. During the first three quarters of fiscal 2017 , the Company recognized employee related expenses as a result of the restructuring of $4.0 million . The Company recognized lease termination costs of $19.9 million during the first three quarters of fiscal 2017 . As of October 29, 2017 , the Company had lease termination liabilities of $12.2 million . During the first three quarters of fiscal 2017 , the Company also recognized other restructuring costs of $1.0 million .

INCOME TAXES

INCOME TAXES	9 Months Ended
	Oct. 29, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES As disclosed in Note 15 to the audited consolidated financial statements included in Item 8 of the Company's fiscal 2016 Annual Report on Form 10-K filed with the SEC on March 29, 2017 , the Company finalized a bilateral Advance Pricing Arrangement ("APA") with the Internal Revenue Service ("IRS") and the Canada Revenue Agency ("CRA") during fiscal 2016. The results for the quarter and three quarters ended October 29, 2017 did not include any discrete items or adjustments related to the APA. The results for the quarter and three quarters ended October 30, 2016 included net interest expenses of $0.2 million and $1.7 million , respectively, that were recorded in other income (expense), net, and net income tax recoveries of $4.0 million and $11.6 million , respectively, related to the expected outcome of the APA and taxes associated with the anticipated repatriation of foreign earnings.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Oct. 29, 2017
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: Quarter Ended Three Quarters Ended October 29, 2017 October 30, 2016 October 29, 2017 October 30, 2016 (In thousands, except per share amounts) Net income $ 58,944 $ 68,285 $ 138,901 $ 167,246 Basic weighted-average number of shares outstanding 135,364 137,033 136,191 137,095 Assumed conversion of dilutive stock options and awards 214 204 166 226 Diluted weighted-average number of shares outstanding 135,578 137,237 136,357 137,321 Basic earnings per share $ 0.44 $ 0.50 $ 1.02 $ 1.22 Diluted earnings per share $ 0.43 $ 0.50 $ 1.02 $ 1.22 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 three quarters ended October 29, 2017 and October 30, 2016 , 0.2 million and 0.1 million stock options and awards, 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 $450.0 million . This stock repurchase program was completed during the second quarter of fiscal 2016. On December 1, 2016, the Company's board of directors approved a program to repurchase shares of the Company's common stock up to an aggregate value of $100.0 million . The common stock was repurchased in the open market at prevailing market prices, including under plans complying with the provisions of Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934, with the timing and actual number of shares repurchased depending upon market conditions, eligibility to trade, and other factors. This stock repurchase program was completed during the third quarter of fiscal 2017. During the three quarters ended October 29, 2017 and October 30, 2016 , 1.8 million and 0.4 million shares, respectively, were repurchased under the program at a total cost of $99.3 million and $28.6 million , respectively.

SUPPLEMENTARY FINANCIAL INFORMA

SUPPLEMENTARY FINANCIAL INFORMATION	9 Months Ended
	Oct. 29, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SUPPLEMENTARY FINANCIAL INFORMATION	SUPPLEMENTARY FINANCIAL INFORMATION For the quarters ended October 29, 2017 and October 30, 2016 , there were net foreign exchange and derivative revaluation gains of $2.7 million and $4.3 million , respectively, included within selling, general and administrative expenses. For the three quarters ended October 29, 2017 and October 30, 2016 , there were net foreign exchange and derivative revaluation gains of $6.9 million and losses of $4.1 million , respectively, included within selling, general and administrative expenses. A summary of certain consolidated balance sheet accounts is as follows: October 29, January 29, (In thousands) Inventories: Finished goods $ 412,648 $ 306,087 Provision to reduce inventories to net realizable value (15,756 ) (7,655 ) $ 396,892 $ 298,432 Property and equipment, net: Land $ 79,852 $ 78,561 Buildings 38,144 32,174 Leasehold improvements 289,775 273,801 Furniture and fixtures 88,545 84,479 Computer hardware 63,882 58,270 Computer software 199,601 160,835 Equipment and vehicles 14,858 13,704 Accumulated depreciation and impairment (334,254 ) (278,325 ) $ 440,403 $ 423,499 Goodwill and intangible assets, net: Goodwill $ 25,496 $ 25,496 Changes in foreign currency exchange rates (1,156 ) (1,263 ) 24,340 24,233 Intangibles - reacquired franchise rights 10,150 10,150 Accumulated amortization (10,009 ) (9,807 ) Changes in foreign currency exchange rates (5 ) (19 ) 136 324 $ 24,476 $ 24,557 Other non-current assets: Security deposits $ 10,484 $ 9,009 Deferred lease assets 10,099 10,560 Other 9,056 923 $ 29,639 $ 20,492 Other current liabilities: Accrued duty, freight, and other operating expenses $ 42,923 $ 27,477 Sales tax collected 11,686 10,182 Accrued rent 5,620 5,562 Other 11,361 9,340 $ 71,590 $ 52,561 Other non-current liabilities: Deferred lease liabilities $ 26,763 $ 26,648 Tenant inducements 26,199 21,668 Other 5,634 — $ 58,596 $ 48,316 As of October 29, 2017 , as a result of the restructuring of its ivivva operations, the Company had a provision of $4.8 million to reduce the carrying value of certain ivivva branded finished goods inventories to their estimated net realizable value. In addition, the Company had a liability for the losses it expects to incur on certain firm inventory and fabric purchase commitments of $0.3 million . This liability is included within accrued inventory liabilities on the consolidated balance sheets. Please refer to Note 6 of these unaudited interim consolidated financial statements for further details regarding the ivivva restructuring plans, including impairment of property and equipment, net which was recorded during the first quarter of fiscal 2017 .

SEGMENT REPORTING

SEGMENT REPORTING	9 Months Ended
	Oct. 29, 2017
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. Outlets, showrooms, temporary locations, sales to wholesale accounts, license and supply arrangements, and warehouse sale net revenue have been combined into other. Information for these segments is detailed in the table below: Quarter Ended Three Quarters Ended October 29, 2017 October 30, 2016 October 29, 2017 October 30, 2016 (In thousands) Net revenue: Company-operated stores $ 425,084 $ 393,506 $ 1,218,127 $ 1,133,599 Direct to consumer 131,181 104,013 341,453 288,978 Other 62,753 46,897 160,799 131,875 $ 619,018 $ 544,416 $ 1,720,379 $ 1,554,452 Income from operations before general corporate expense: Company-operated stores $ 97,015 $ 91,497 $ 267,178 $ 245,056 Direct to consumer 52,201 43,588 127,746 114,744 Other 9,319 5,709 19,076 12,430 158,535 140,794 414,000 372,230 General corporate expense 50,762 47,819 168,912 147,707 Restructuring and related costs 22,185 — 45,365 — Income from operations 85,588 92,975 199,723 224,523 Other income (expense), net 1,052 628 2,771 720 Income before income tax expense $ 86,640 $ 93,603 $ 202,494 $ 225,243 Capital expenditures: Company-operated stores $ 29,747 $ 18,932 $ 53,549 $ 47,197 Direct to consumer 7,582 3,711 16,423 9,425 Corporate and other 19,910 12,263 37,156 49,546 $ 57,239 $ 34,906 $ 107,128 $ 106,168 Depreciation and amortization: Company-operated stores $ 16,549 $ 15,735 $ 47,630 $ 44,030 Direct to consumer 3,740 1,854 10,087 4,908 Corporate and other 8,271 6,370 22,412 14,703 $ 28,560 $ 23,959 $ 80,129 $ 63,641 The accelerated depreciation related to the restructuring of the ivivva operations is included in corporate and other in the above breakdown of depreciation and amortization.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS	9 Months Ended
	Oct. 29, 2017
Commitments and Contingencies Disclosure [Abstract]
LEGAL PROCEEDINGS	LEGAL PROCEEDINGS In addition to the legal matter 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, employment claims, and similar matters. The Company believes the ultimate resolution of any such current proceeding will not have a material adverse effect on its consolidated balance sheets, results of operations or cash flows. On October 9, 2015, certain current and former hourly employees of the Company filed a class action lawsuit in the Supreme Court of New York entitled Rebecca Gathmann-Landini et al v. lululemon USA inc. On December 2, 2015, the case was moved to the United States District Court for the Eastern District of New York. The lawsuit alleges that the Company violated various New York labor codes by failing to pay all earned wages, including overtime compensation. The plaintiffs are seeking an unspecified amount of damages. The Company intends to vigorously defend this matter.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	9 Months Ended
	Oct. 29, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENT The Company evaluates events or transactions that occur after the balance sheet date through to the date which the financial statements are issued, for potential recognition or disclosure in its unaudited interim consolidated financial statements in accordance with ASC Topic 855, Subsequent Events ("ASC 855"). On November 29, 2017, the Company's board of directors approved a stock repurchase program for up to $200 million of its common shares in the open market at prevailing market prices, including under plans complying with the provisions of Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934. The timing and actual number of common shares to be repurchased will depend upon market conditions, eligibility to trade, and other factors, in accordance with Securities and Exchange Commission requirements, and the repurchase program is expected to be completed in two years. Shares may be repurchased from time to time on the open market, through block trades or otherwise. Purchases may be started or stopped at any time without prior notice depending on market conditions and other factors.

NATURE OF OPERATIONS AND BASI19

NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Policies)	9 Months Ended
	Oct. 29, 2017
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The unaudited interim consolidated financial statements as of October 29, 2017 and for the quarters and three quarters ended October 29, 2017 and October 30, 2016 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 January 29, 2017 is derived from the Company's audited consolidated financial statements and related notes for the fiscal year ended January 29, 2017 , which are included in Item 8 in the Company's fiscal 2016 Annual Report on Form 10-K filed with the SEC on March 29, 2017 . 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 Item 8 in the Company's fiscal 2016 Annual Report on Form 10-K.
Fiscal period	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 2017 will end on January 28, 2018 and will be a 52-week year.
Reclassification	Certain comparative figures have been reclassified to conform to the financial presentation adopted for the current year.
Recent accounting pronouncements	RECENT ACCOUNTING PRONOUNCEMENTS In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, Revenue from Contracts with Customers ("ASC 606"). This ASU supersedes the revenue recognition requirements in ASC Topic 605 Revenue Recognition , including most industry-specific revenue recognition guidance. ASU 2014-09 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. In 2015, the FASB deferred the effective date for this guidance, and in 2016, the FASB issued several updates that clarify the guidance in this topic. ASC 606 may be adopted either on a full retrospective basis or using a modified retrospective method with a cumulative adjustment to equity. This guidance will be adopted by the Company beginning in its first quarter of fiscal 2018. The Company continues to evaluate the impact that this new guidance may have on its consolidated financial statements, and the method of retrospective adoption that it will elect, but does not expect ASC 606 to materially impact the amount, or timing, of its revenue recognition. Under the new requirements, the Company expects to recognize its provision for sales returns on a gross basis, rather than a net basis on the consolidated balance sheets. In July 2015, the FASB amended ASC Topic 330, Inventory to simplify the measurement of inventory. The amendments require that an entity measure inventory at the lower of cost and net realizable value instead of the lower of cost and market. This guidance became effective for the Company the first quarter of fiscal 2017 and the adoption did not impact its consolidated financial statements. In February 2016, the FASB issued ASC Topic 842, Leases ("ASC 842") to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. Under the new guidance, lessees are required to recognize a lease liability, which represents the discounted obligation to make future minimum lease payments, and a corresponding right-of-use asset on the balance sheet for most leases. This guidance will be effective for the Company beginning in its first quarter of fiscal 2019, with early application permitted. The Company will adopt ASC 842 in its first quarter of fiscal 2019. While the Company is currently evaluating the impact that this new guidance will have on its consolidated financial statements, it is expected that the primary impact upon adoption will be the recognition, on a discounted basis, of the Company's minimum commitments under noncancelable operating leases as right of use assets and obligations on the consolidated balance sheets. It is expected that this will result in a significant increase in assets and liabilities on the consolidated balance sheets. In March 2016, the FASB amended ASC Topic 718, Stock Compensation simplifying the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The new guidance also allows an entity to account for forfeitures when they occur. The Company adopted this amendment in the first quarter of fiscal 2017 and elected to continue to estimate expected forfeitures. The Company is now required to include excess tax benefits and deficiencies as a component of income tax expense, rather than a component of stockholders' equity. Additionally, the Company retrospectively adjusted its consolidated statement of cash flows for the three quarters ended October 30, 2016 to reclassify excess tax benefits of $1.3 million from financing activities to operating activities. In August 2017, the FASB amended ASC 815, Derivatives and Hedging to more closely align hedge accounting with companies' risk management strategies, simplify the application of hedge accounting, and increase transparency as to the scope and results of hedging programs. It will make more financial and nonfinancial hedging strategies eligible for hedge accounting. It also amends the presentation and disclosure requirements and changes how companies assess effectiveness. This guidance will be effective for the Company beginning in its first quarter of fiscal 2019, with early application permitted. The Company is currently evaluating the impact that this new guidance may have on its consolidated financial statements.

STOCK-BASED COMPENSATION AND 20

STOCK-BASED COMPENSATION AND BENEFIT PLANS (Tables)	9 Months Ended
	Oct. 29, 2017
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 October 29, 2017 , and changes during the first three quarters 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 (In thousands, except per share amounts) Balance at January 29, 2017 918 $ 59.20 390 $ 61.05 14 $ 70.54 360 $ 62.99 Granted 614 52.16 191 52.21 24 52.38 332 52.65 Exercised/released 40 40.70 — — 14 70.29 131 60.74 Forfeited 247 58.18 224 54.72 3 51.72 111 57.18 Balance at October 29, 2017 1,245 $ 56.53 357 $ 60.30 21 $ 52.45 450 $ 57.46 Exercisable at October 29, 2017 350 $ 56.14
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 the first three quarters of fiscal 2017 : Three Quarters Ended Expected term 4.00 years Expected volatility 38.28 % Risk-free interest rate 1.72 % Dividend yield — %

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	9 Months Ended
	Oct. 29, 2017
Fair Value Disclosures [Abstract]
Fair Value, Assets and Liabilities Measured on Recurring Basis	As of October 29, 2017 , the Company held certain assets and liabilities that are required to be measured at fair value on a recurring basis: October 29, 2017 Level 1 Level 2 Level 3 (In thousands) Net forward currency contract (liabilities) assets $ (583 ) $ — $ (583 ) $ —

DERIVATIVE FINANCIAL INSTRUME22

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Oct. 29, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional Amounts	The Company had foreign exchange forward contracts outstanding with the following notional amounts: October 29, 2017 October 30, 2016 (In thousands) Derivatives designated as net investment hedges $ 50,000 $ — Derivatives not designated in a hedging relationship 40,000 —
Schedule of Forward Currency Contracts, Statement of Financial Position	The fair values of forward currency contracts were as follows: October 29, 2017 October 30, 2016 (In thousands) Derivatives designated as net investment hedges, recognized within: Other current liabilities $ 2,902 $ — Derivatives not designated in a hedging relationship, recognized within: Other prepaid expenses and other current assets 2,319 —
Schedule of Pre-tax Gains (Losses) on Derivatives in Accumulated Other Comprehensive Income (Loss)	The pre-tax gains and losses on foreign exchange forward contracts recorded in accumulated other comprehensive income and in the consolidated statement of operations, are as follows: Quarter Ended Three Quarters Ended October 29, 2017 October 30, 2016 October 29, 2017 October 30, 2016 (In thousands) Derivatives designated as net investment hedges: Gain (loss) recognized in other comprehensive income $ 1,424 $ — $ (7,501 ) $ — Derivatives not designated in a hedging relationship: (Loss) gain recognized in selling, general and administrative expenses (1,137 ) — 6,497 —

ASSET IMPAIRMENT AND RESTRUCT23

ASSET IMPAIRMENT AND RESTRUCTURING (Tables)	9 Months Ended
	Oct. 29, 2017
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	A summary of the pre-tax charges recognized during the third quarter and the first three quarters of fiscal 2017 in connection with the Company's restructuring of its ivivva operations is as follows: Quarter Ended Three Quarters Ended (In thousands) Costs recorded in cost of goods sold: Provision to reduce inventories to net realizable value $ 1,934 $ 4,838 Loss (reversal of loss) on committed inventory purchases (2,286 ) 250 Accelerated depreciation 1,530 3,753 1,178 8,841 Costs recorded in operating expenses: Lease termination costs 19,441 19,884 Impairment of property and equipment — 11,593 Employee related costs 804 4,000 Other restructuring costs 762 1,047 Asset impairment and restructuring costs 21,007 36,524 Restructuring and related costs $ 22,185 $ 45,365

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Oct. 29, 2017
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: Quarter Ended Three Quarters Ended October 29, 2017 October 30, 2016 October 29, 2017 October 30, 2016 (In thousands, except per share amounts) Net income $ 58,944 $ 68,285 $ 138,901 $ 167,246 Basic weighted-average number of shares outstanding 135,364 137,033 136,191 137,095 Assumed conversion of dilutive stock options and awards 214 204 166 226 Diluted weighted-average number of shares outstanding 135,578 137,237 136,357 137,321 Basic earnings per share $ 0.44 $ 0.50 $ 1.02 $ 1.22 Diluted earnings per share $ 0.43 $ 0.50 $ 1.02 $ 1.22

SUPPLEMENTARY FINANCIAL INFOR25

SUPPLEMENTARY FINANCIAL INFORMATION (Tables)	9 Months Ended
	Oct. 29, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Certain Balance Sheet Accounts	A summary of certain consolidated balance sheet accounts is as follows: October 29, January 29, (In thousands) Inventories: Finished goods $ 412,648 $ 306,087 Provision to reduce inventories to net realizable value (15,756 ) (7,655 ) $ 396,892 $ 298,432 Property and equipment, net: Land $ 79,852 $ 78,561 Buildings 38,144 32,174 Leasehold improvements 289,775 273,801 Furniture and fixtures 88,545 84,479 Computer hardware 63,882 58,270 Computer software 199,601 160,835 Equipment and vehicles 14,858 13,704 Accumulated depreciation and impairment (334,254 ) (278,325 ) $ 440,403 $ 423,499 Goodwill and intangible assets, net: Goodwill $ 25,496 $ 25,496 Changes in foreign currency exchange rates (1,156 ) (1,263 ) 24,340 24,233 Intangibles - reacquired franchise rights 10,150 10,150 Accumulated amortization (10,009 ) (9,807 ) Changes in foreign currency exchange rates (5 ) (19 ) 136 324 $ 24,476 $ 24,557 Other non-current assets: Security deposits $ 10,484 $ 9,009 Deferred lease assets 10,099 10,560 Other 9,056 923 $ 29,639 $ 20,492 Other current liabilities: Accrued duty, freight, and other operating expenses $ 42,923 $ 27,477 Sales tax collected 11,686 10,182 Accrued rent 5,620 5,562 Other 11,361 9,340 $ 71,590 $ 52,561 Other non-current liabilities: Deferred lease liabilities $ 26,763 $ 26,648 Tenant inducements 26,199 21,668 Other 5,634 — $ 58,596 $ 48,316

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	9 Months Ended
	Oct. 29, 2017
Segment Reporting [Abstract]
Segment Reporting	Information for these segments is detailed in the table below: Quarter Ended Three Quarters Ended October 29, 2017 October 30, 2016 October 29, 2017 October 30, 2016 (In thousands) Net revenue: Company-operated stores $ 425,084 $ 393,506 $ 1,218,127 $ 1,133,599 Direct to consumer 131,181 104,013 341,453 288,978 Other 62,753 46,897 160,799 131,875 $ 619,018 $ 544,416 $ 1,720,379 $ 1,554,452 Income from operations before general corporate expense: Company-operated stores $ 97,015 $ 91,497 $ 267,178 $ 245,056 Direct to consumer 52,201 43,588 127,746 114,744 Other 9,319 5,709 19,076 12,430 158,535 140,794 414,000 372,230 General corporate expense 50,762 47,819 168,912 147,707 Restructuring and related costs 22,185 — 45,365 — Income from operations 85,588 92,975 199,723 224,523 Other income (expense), net 1,052 628 2,771 720 Income before income tax expense $ 86,640 $ 93,603 $ 202,494 $ 225,243 Capital expenditures: Company-operated stores $ 29,747 $ 18,932 $ 53,549 $ 47,197 Direct to consumer 7,582 3,711 16,423 9,425 Corporate and other 19,910 12,263 37,156 49,546 $ 57,239 $ 34,906 $ 107,128 $ 106,168 Depreciation and amortization: Company-operated stores $ 16,549 $ 15,735 $ 47,630 $ 44,030 Direct to consumer 3,740 1,854 10,087 4,908 Corporate and other 8,271 6,370 22,412 14,703 $ 28,560 $ 23,959 $ 80,129 $ 63,641

NATURE OF OPERATIONS AND BASI27

NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Detail) - store	Oct. 29, 2017	Aug. 20, 2017	Jan. 29, 2017
Restructuring Cost and Reserve [Line Items]
Number of company-operated stores	388		406
ivivva
Restructuring Cost and Reserve [Line Items]
Number of stores, not expected to close		7
Facility closing | ivivva
Restructuring Cost and Reserve [Line Items]
Number of company-operated stores		55
Number of stores expected to close		48

RECENT ACCOUNTING PRONOUNCEME28

RECENT ACCOUNTING PRONOUNCEMENTS (Details) - USD ($) $ in Thousands	9 Months Ended
	Oct. 29, 2017	Oct. 30, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash provided (used in) financing activities	$ (100,707)	$ (25,288)
Cash provided (used in) operating activities	$ 131,309	98,659
Accounting Standards Update 2016-09, Excess Tax Benefit Component
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cash provided (used in) financing activities		(1,300)
Cash provided (used in) operating activities		$ 1,300

STOCK-BASED COMPENSATION AND 29

STOCK-BASED COMPENSATION AND BENEFIT PLANS - Additional Information (Detail) $ in Millions	3 Months Ended	9 Months Ended
	Oct. 29, 2017USD ($)shares	Oct. 29, 2017USD ($)shares	Oct. 30, 2016USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 13	$ 12.9
Total unrecognized compensation cost	$ 40.2	$ 40.2
Expected weighted-average period of compensation cost		2 years 3 months 18 days
Common stock per performance share unit	2	2
Company match contribution		33.33%
Vesting period		2 years
Company contributions		$ 3.9	$ 1.6
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum shares available under ESPP (shares) | shares	6,000,000	6,000,000
Shares purchased under ESPP (shares) | shares	34,200
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Participant contribution, company match percent		50.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Participant contribution, company match percent		75.00%

STOCK-BASED COMPENSATION AND 30

STOCK-BASED COMPENSATION AND BENEFIT PLANS - Summary of Company's Stock Option, Performance Share Unit and Restricted Share Activity (Detail) shares in Thousands	9 Months Ended
	Oct. 29, 2017$ / sharesshares
Stock Options
Number of Stock Options
Number of Stock Options, Beginning Balance (in shares) | shares	918
Number of Stock Options, Granted (in shares) | shares	614
Number of Stock Options, Exercised/released (in shares) | shares	40
Number of Stock Options, Forfeited (in shares) | shares	247
Number of Stock Options, Ending Balance (in shares) | shares	1,245
Number of Stock Options, Exercisable at End of Period (in shares) | shares	350
Weighted-Average Exercise Price of Stock Options
Weighted-Average Exercise Price, Options, Beginning Balance (in dollars per share) | $ / shares	$ 59.20
Weighted-Average Exercise Price, Options, Granted (in dollars per share) | $ / shares	52.16
Weighted-Average Exercise Price, Options, Exercised/released (in dollars per share) | $ / shares	40.70
Weighted-Average Exercise Price, Options, Forfeited (in dollars per share) | $ / shares	58.18
Weighted-Average Exercise Price, Options, Ending Balance (in dollars per share) | $ / shares	56.53
Weighted-Average Exercise Price, Options, Exercisable (in dollars per share) | $ / shares	$ 56.14
Performance-Based Restricted Stock Units
Number of Performance-Based Restricted Stock Units and Restricted Shares
Number of Units/Shares, Beginning Balance (in shares) | shares	390
Number of Units/Shares, Granted (in shares) | shares	191
Number of Units/Shares, Exercised/released (in shares) | shares	0
Number of Units/Shares, Forfeited (in shares) | shares	224
Number of Units/Shares, Ending Balance (in shares) | shares	357
Weighted-Average Grant Date Fair Value
Weighted-Average Grant Date Fair Value, Beginning Balance (in dollars per share) | $ / shares	$ 61.05
Weighted-Average Grant Date Fair Value, Granted (in dollars per share) | $ / shares	52.21
Weighted-Average Grant Date Fair Value, Exercised/released (in dollars per share) | $ / shares	0
Weighted-Average Grant Date Fair Value, Forfeited (in dollars per share) | $ / shares	54.72
Weighted-Average Grant Date Fair Value, Ending Balance (in dollars per share) | $ / shares	$ 60.30
Restricted Shares
Number of Performance-Based Restricted Stock Units and Restricted Shares
Number of Units/Shares, Beginning Balance (in shares) | shares	14
Number of Units/Shares, Granted (in shares) | shares	24
Number of Units/Shares, Exercised/released (in shares) | shares	14
Number of Units/Shares, Forfeited (in shares) | shares	3
Number of Units/Shares, Ending Balance (in shares) | shares	21
Weighted-Average Grant Date Fair Value
Weighted-Average Grant Date Fair Value, Beginning Balance (in dollars per share) | $ / shares	$ 70.54
Weighted-Average Grant Date Fair Value, Granted (in dollars per share) | $ / shares	52.38
Weighted-Average Grant Date Fair Value, Exercised/released (in dollars per share) | $ / shares	70.29
Weighted-Average Grant Date Fair Value, Forfeited (in dollars per share) | $ / shares	51.72
Weighted-Average Grant Date Fair Value, Ending Balance (in dollars per share) | $ / shares	$ 52.45
Restricted Stock Units
Number of Performance-Based Restricted Stock Units and Restricted Shares
Number of Units/Shares, Beginning Balance (in shares) | shares	360
Number of Units/Shares, Granted (in shares) | shares	332
Number of Units/Shares, Exercised/released (in shares) | shares	131
Number of Units/Shares, Forfeited (in shares) | shares	111
Number of Units/Shares, Ending Balance (in shares) | shares	450
Weighted-Average Grant Date Fair Value
Weighted-Average Grant Date Fair Value, Beginning Balance (in dollars per share) | $ / shares	$ 62.99
Weighted-Average Grant Date Fair Value, Granted (in dollars per share) | $ / shares	52.65
Weighted-Average Grant Date Fair Value, Exercised/released (in dollars per share) | $ / shares	60.74
Weighted-Average Grant Date Fair Value, Forfeited (in dollars per share) | $ / shares	57.18
Weighted-Average Grant Date Fair Value, Ending Balance (in dollars per share) | $ / shares	$ 57.46

STOCK-BASED COMPENSATION AND 31

STOCK-BASED COMPENSATION AND BENEFIT PLANS - Fair Value Assumptions (Detail)	9 Months Ended
	Oct. 29, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Expected term	4 years
Expected volatility	38.28%
Risk-free interest rate	1.72%
Dividend yield	0.00%

FAIR VALUE MEASUREMENT (Details

FAIR VALUE MEASUREMENT (Details) - USD ($) $ in Thousands	Oct. 29, 2017	Jan. 29, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Lease termination liabilities	$ 12,164	$ 0
Net forward currency contract (liabilities) assets	(583)
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net forward currency contract (liabilities) assets	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net forward currency contract (liabilities) assets	(583)
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net forward currency contract (liabilities) assets	$ 0

DERIVATIVE FINANCIAL INSTRUME33

DERIVATIVE FINANCIAL INSTRUMENTS - Outstanding Notional Amounts (Details) - Foreign Exchange Forward - USD ($) $ in Thousands	Oct. 29, 2017	Oct. 30, 2016
Designated as Hedging Instrument
Derivative [Line Items]
Notional amounts	$ 50,000	$ 0
Not Designated as Hedging Instrument
Derivative [Line Items]
Notional amounts	$ 40,000	$ 0

DERIVATIVE FINANCIAL INSTRUME34

DERIVATIVE FINANCIAL INSTRUMENTS - Quantitative Disclosures about Derivative Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2017	Oct. 30, 2016	Oct. 29, 2017	Oct. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative assets subject to enforceable netting arrangements	$ 1,200		$ 1,200
Derivative liabilities subject to enforceable netting arrangements	1,500		1,500
Foreign Exchange Forward | Designated as Hedging Instrument
Derivatives designated as net investment hedges:
Gain (loss) recognized in other comprehensive income	1,424	$ 0	(7,501)	$ 0
Foreign Exchange Forward | Designated as Hedging Instrument | Other current liabilities
Derivatives designated as net investment hedges, recognized within:
Other current liabilities	2,902	0	2,902	0
Foreign Exchange Forward | Not Designated as Hedging Instrument
Derivatives not designated in a hedging relationship:
(Loss) gain recognized in selling, general and administrative expenses	(1,137)	0	6,497	0
Foreign Exchange Forward | Not Designated as Hedging Instrument | Other prepaid expenses and other current assets
Derivatives not designated in a hedging relationship, recognized within:
Other prepaid expenses and other current assets	$ 2,319	$ 0	$ 2,319	$ 0

ASSET IMPAIRMENT AND RESTRUCT35

ASSET IMPAIRMENT AND RESTRUCTURING - Additional Information (Details) $ in Thousands	3 Months Ended			9 Months Ended
	Oct. 29, 2017USD ($)store	Apr. 30, 2017USD ($)	Oct. 30, 2016USD ($)	Oct. 29, 2017USD ($)store	Oct. 30, 2016USD ($)	Aug. 20, 2017store	Jan. 29, 2017USD ($)store
Restructuring Cost and Reserve [Line Items]
Number of stores | store	388			388			406
Restructuring and related costs	$ 22,185		$ 0	$ 45,365	$ 0
Income tax expense (recovery)	27,696		25,318	63,593	57,997
Asset impairment and restructuring costs	21,007		$ 0	36,524	0
Asset impairment for ivivva restructuring				11,593	$ 0
Lease termination liabilities	12,164			12,164			$ 0
ivivva
Restructuring Cost and Reserve [Line Items]
Number of stores, not expected to close | store						7
ivivva | Facility closing
Restructuring Cost and Reserve [Line Items]
Number of stores expected to close | store						48
Number of stores | store						55
Restructuring and related costs	22,185			45,365
Income tax expense (recovery)	(5,800)			(11,900)
Restructuring costs recorded in cost of goods sold	1,178			8,841
Provision for inventories	1,934			4,838
Loss (reversal of loss) on committed inventory purchases	(2,286)			250
Accelerated depreciation	1,530			3,753
Asset impairment and restructuring costs	21,007			36,524
Asset impairment for ivivva restructuring	0	$ 11,600		11,593
Employee related costs	804			4,000
Lease termination costs	19,441			19,884
Lease termination and other restructuring costs	762			1,047
Lease termination liabilities	$ 12,200			$ 12,200

ASSET IMPAIRMENT AND RESTRUCT36

ASSET IMPAIRMENT AND RESTRUCTURING - Schedule of Restructuring Charges (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Oct. 29, 2017	Apr. 30, 2017	Oct. 30, 2016	Oct. 29, 2017	Oct. 30, 2016
Costs recorded in operating expenses:
Impairment of property and equipment				$ 11,593	$ 0
Asset impairment and restructuring costs	$ 21,007		$ 0	36,524	0
Restructuring and related costs	22,185		$ 0	45,365	$ 0
ivivva | Facility closing
Costs recorded in cost of goods sold:
Provision to reduce inventories to net realizable value	1,934			4,838
Loss (reversal of loss) on committed inventory purchases	(2,286)			250
Accelerated depreciation	1,530			3,753
Restructuring costs recorded in cost of goods sold	1,178			8,841
Costs recorded in operating expenses:
Lease termination costs	19,441			19,884
Impairment of property and equipment	0	$ 11,600		11,593
Employee related costs	804			4,000
Other restructuring costs	762			1,047
Asset impairment and restructuring costs	21,007			36,524
Restructuring and related costs	$ 22,185			$ 45,365

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Oct. 30, 2016	Oct. 30, 2016
Income Tax Disclosure [Abstract]
Net interest expense	$ 0.2	$ 1.7
Net income tax expense (recovery)	$ (4)	$ (11.6)

EARNINGS PER SHARE - Computatio

EARNINGS PER SHARE - Computation of Basic and Diluted Earning Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2017	Oct. 30, 2016	Oct. 29, 2017	Oct. 30, 2016
Earnings Per Share [Abstract]
Net income	$ 58,944	$ 68,285	$ 138,901	$ 167,246
Basic weighted-average number of shares outstanding (in shares)	135,364	137,033	136,191	137,095
Assumed conversion of dilutive stock options and awards (in shares)	214	204	166	226
Diluted weighted-average number of shares outstanding (in shares)	135,578	137,237	136,357	137,321
Basic earnings per share (in dollars per share)	$ 0.44	$ 0.50	$ 1.02	$ 1.22
Diluted earnings per share (in dollars per share)	$ 0.43	$ 0.50	$ 1.02	$ 1.22

EARNINGS PER SHARE - Additional

EARNINGS PER SHARE - Additional Information (Detail) - USD ($) shares in Millions	9 Months Ended
	Oct. 29, 2017	Oct. 30, 2016	Dec. 01, 2016	Jun. 11, 2014
Earnings Per Share [Abstract]
Anti-dilutive stock options (in shares)	0.2	0.1
Aggregate amount authorized for stock repurchase			$ 100,000,000	$ 450,000,000
Repurchase of common stock (in shares)	1.8	0.4
Repurchase of common stock	$ 99,269,000	$ 28,600,000

SUPPLEMENTARY FINANCIAL INFOR40

SUPPLEMENTARY FINANCIAL INFORMATION - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2017	Oct. 30, 2016	Oct. 29, 2017	Oct. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net foreign exchange gains (losses), before tax	$ 2,700	$ 4,300	$ 6,900	$ (4,100)
Facility closing | ivivva
Restructuring Cost and Reserve [Line Items]
Provision for inventories	1,934		4,838
Loss (reversal of loss) on committed inventory purchases	$ (2,286)		$ 250

SUPPLEMENTARY FINANCIAL INFOR41

SUPPLEMENTARY FINANCIAL INFORMATION - Summary of Certain Balance Sheet Accounts (Detail) - USD ($) $ in Thousands	Oct. 29, 2017	Jan. 29, 2017
Inventories:
Finished goods	$ 412,648	$ 306,087
Provision to reduce inventories to net realizable value	(15,756)	(7,655)
Total inventories	396,892	298,432
Property and equipment, net:
Land	79,852	78,561
Buildings	38,144	32,174
Leasehold improvements	289,775	273,801
Furniture and fixtures	88,545	84,479
Computer hardware	63,882	58,270
Computer software	199,601	160,835
Equipment and vehicles	14,858	13,704
Accumulated depreciation and impairment	(334,254)	(278,325)
Total property and equipment	440,403	423,499
Goodwill and intangible assets, net:
Goodwill	25,496	25,496
Changes in foreign currency exchange rates	(1,156)	(1,263)
Goodwill, net	24,340	24,233
Intangibles - reacquired franchise rights	10,150	10,150
Accumulated amortization	(10,009)	(9,807)
Changes in foreign currency exchange rates	(5)	(19)
Total intangible assets	136	324
Goodwill and intangible assets, net	24,476	24,557
Other non-current assets:
Security deposits	10,484	9,009
Deferred lease assets	10,099	10,560
Other	9,056	923
Total other non-current assets	29,639	20,492
Other current liabilities:
Accrued duty, freight, and other operating expenses	42,923	27,477
Sales tax collected	11,686	10,182
Accrued rent	5,620	5,562
Other	11,361	9,340
Total other current liabilities	71,590	52,561
Other non-current liabilities:
Deferred lease liabilities	26,763	26,648
Tenant inducements	26,199	21,668
Other	5,634	0
Other non-current liabilities	$ 58,596	$ 48,316

SEGMENT REPORTING (Detail)

SEGMENT REPORTING (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2017	Oct. 30, 2016	Oct. 29, 2017	Oct. 30, 2016
Net revenue:
Net revenue	$ 619,018	$ 544,416	$ 1,720,379	$ 1,554,452
Income from operations before general corporate expense:
Income from operations before general corporate expense	158,535	140,794	414,000	372,230
General corporate expense	50,762	47,819	168,912	147,707
Restructuring and related costs	22,185	0	45,365	0
Income from operations	85,588	92,975	199,723	224,523
Other income (expense), net	1,052	628	2,771	720
Income before income tax expense	86,640	93,603	202,494	225,243
Capital expenditures:
Capital expenditures	57,239	34,906	107,128	106,168
Depreciation and amortization:
Depreciation and amortization	28,560	23,959	80,129	63,641
Corporate and other
Capital expenditures:
Capital expenditures	19,910	12,263	37,156	49,546
Depreciation and amortization:
Depreciation and amortization	8,271	6,370	22,412	14,703
Company-operated stores
Net revenue:
Net revenue	425,084	393,506	1,218,127	1,133,599
Income from operations before general corporate expense:
Income from operations before general corporate expense	97,015	91,497	267,178	245,056
Company-operated stores | Operating segments
Capital expenditures:
Capital expenditures	29,747	18,932	53,549	47,197
Depreciation and amortization:
Depreciation and amortization	16,549	15,735	47,630	44,030
Direct to consumer
Net revenue:
Net revenue	131,181	104,013	341,453	288,978
Income from operations before general corporate expense:
Income from operations before general corporate expense	52,201	43,588	127,746	114,744
Direct to consumer | Operating segments
Capital expenditures:
Capital expenditures	7,582	3,711	16,423	9,425
Depreciation and amortization:
Depreciation and amortization	3,740	1,854	10,087	4,908
Other
Net revenue:
Net revenue	62,753	46,897	160,799	131,875
Income from operations before general corporate expense:
Income from operations before general corporate expense	$ 9,319	$ 5,709	$ 19,076	$ 12,430

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) - USD ($)	Nov. 29, 2017	Dec. 01, 2016	Jun. 11, 2014
Subsequent Event [Line Items]
Aggregate amount authorized for stock repurchase		$ 100,000,000	$ 450,000,000
Subsequent Event
Subsequent Event [Line Items]
Aggregate amount authorized for stock repurchase	$ 200,000,000
Period of stock repurchase program	2 years