FHC (FRAN) 10-Q 10 Jun 15 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	2-May-15	15-May-15
Document Information [Line Items]
Entity Registrant Name	Francesca's Holdings CORP
Entity Central Index Key	1399935
Current Fiscal Year End Date	-29
Entity Filer Category	Large Accelerated Filer
Trading Symbol	FRAN
Entity Common Stock, Shares Outstanding		42,318,032
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	2-May-15
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2015

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	2-May-15	Jan. 31, 2015	3-May-14
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$46,119	$39,071	$25,413
Accounts receivable	11,858	12,279	10,822
Inventories	31,395	23,801	28,779
Deferred income taxes	5,288	4,858	4,643
Prepaid expenses and other current assets	5,547	5,890	6,179
Total current assets	100,207	85,899	75,836
Property and equipment, net	77,114	74,095	69,799
Deferred income taxes	3,623	3,642	3,113
Other assets, net	1,731	1,909	1,724
TOTAL ASSETS	182,675	165,545	150,472
Current liabilities:
Accounts payable	16,280	11,550	9,758
Accrued liabilities	13,699	11,904	9,640
Total current liabilities	29,979	23,454	19,398
Landlord incentives and deferred rent	36,739	32,877	32,333
Long-term debt	0	0	15,000
Total liabilities	66,718	56,331	66,731
Commitments and contingencies
Stockholders’ equity:
Common stock - $.01 par value, 80.0 million shares authorized; 45.5 million, 45.5 million and 45.4 million shares issued at May 2, 2015, January 31, 2015 and May 3, 2014, respectively.	455	455	454
Additional paid-in capital	105,000	105,498	103,574
Retained earnings	70,645	63,404	39,856
Treasury stock, at cost - 3.2 million shares held at each of May 2, 2015, January 31, 2015 and May 3, 2014.	-60,143	-60,143	-60,143
Total stockholders’ equity	115,957	109,214	83,741
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$182,675	$165,545	$150,472

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	2-May-15	Jan. 31, 2015	3-May-14
In Millions, except Per Share data, unless otherwise specified
Common stock, par value (in dollars per share)	$0.01	$0.01	$0.01
Common stock, shares authorized	80	80	80
Common stock, shares issued	45.5	45.5	45.4
Treasury stock, shares	3.2	3.2	3.2

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	2-May-15	3-May-14
Net sales	$95,011	$85,424
Cost of goods sold and occupancy costs	50,118	43,592
Gross profit	44,893	41,832
Selling, general and administrative expenses	33,003	27,812
Income from operations	11,890	14,020
Interest expense	-110	-221
Other income (expense)	-66	103
Income before income tax expense	11,714	13,902
Income tax expense	4,473	5,342
Net income	$7,241	$8,560
Basic earnings per common share (in dollars per share)	$0.17	$0.20
Diluted earnings per common share (in dollars per share)	$0.17	$0.20
Weighted average shares outstanding:
Basic shares (in shares)	42,305	42,189
Diluted shares (in shares)	42,418	42,362

Consolidated_Statement_of_Chan

Consolidated Statement of Changes in Stockholders' Equity (USD $)	Total	Common Stock	Additional Paid-in Capital	Retained Earnings (Deficit)	Treasury Stock, at cost
In Thousands
Balance at Jan. 31, 2015	$109,214	$455	$105,498	$63,404	($60,143)
Balance (in shares) at Jan. 31, 2015		42,298
Net income	7,241	0	0	7,241	0
Stock-based compensation	793	0	793	0	0
Stock options exercised	109	0	109	0	0
Stock options exercised (in shares)		20
Tax effect of stock-based compensation	-1,400	0	-1,400	0	0
Balance at May. 02, 2015	$115,957	$455	$105,000	$70,645	($60,143)
Balance (in shares) at May. 02, 2015		42,318

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	2-May-15	3-May-14
Cash Flows From Operating Activities:
Net income	$7,241	$8,560
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	3,822	3,043
Stock-based compensation expense	793	832
Excess tax benefit from stock-based compensation	-64	-581
Loss on sale of assets	128	17
Deferred income taxes	-1,875	-855
Changes in operating assets and liabilities:
Accounts receivable	485	-1,256
Inventories	-7,594	-4,164
Prepaid expenses and other assets	460	453
Accounts payable	6,543	-1,039
Accrued liabilities	1,795	-185
Landlord incentive and deferred rent	3,862	4,885
Net cash provided by operating activities	15,596	9,710
Cash Flows Used in Investing Activities:
Purchase of property and equipment	-8,721	-8,078
Net cash used in investing activities	-8,721	-8,078
Cash Flows Provided by (Used in) Financing Activities:
Proceeds from the exercise of stock options	109	972
Excess tax benefit from stock-based compensation	64	581
Repayments of borrowings under the revolving credit facility	0	-10,000
Repurchases of common stock	0	-5,270
Net cash provided by (used in) financing activities	173	-13,717
Net increase (decrease) in cash and cash equivalents	7,048	-12,085
Cash and cash equivalents, beginning of year	39,071	37,498
Cash and cash equivalents, end of period	46,119	25,413
Supplemental Disclosures of Cash Flow Information:
Cash paid for income taxes	1,763	459
Interest paid	$47	$181

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended
	2-May-15
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	1	Summary of Significant Accounting Policies
	Nature of Business
	Francesca’s Holdings Corporation is a holding company incorporated in  2007 under the laws of the State of Delaware whose business operations are conducted through its subsidiaries.  Unless the context otherwise requires, the “Company,” refers to Francesca’s Holdings Corporation and its consolidated subsidiaries. The Company operates a national chain of retail boutiques designed and merchandised to feel like unique, upscale boutiques and provide its customers with an inviting, intimate and fun shopping experience. The Company offers a diverse and balanced mix of apparel, jewelry, accessories and gifts at attractive values. At May 2, 2015, the Company operated  589 boutiques, which are located in 47 states throughout the United States and the District of Columbia, and its direct-to-consumer website.
	Basis of Presentation
	The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial statements and are in the form prescribed by the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, these unaudited financial statements include all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of the Company’s financial position, results of operations, changes in equity, and cash flows at the dates and for the periods presented. The financial information as of January 31, 2015 was derived from the Company’s audited consolidated financial statements and notes thereto as of and for the fiscal year ended January 31, 2015 included in the Company’s Annual Report on Form 10-K filed with the SEC on March 27, 2015.
	These unaudited interim consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and related notes as of and for the fiscal year ended January 31, 2015 included in the Company’s Annual Report on Form 10-K.
	Due to seasonal variations in the retail industry, interim results are not necessarily indicative of results that may be expected for any other interim period or for a full year.
	Principles of Consolidation
	The accompanying unaudited consolidated financial statements include the accounts of the Company and all its subsidiaries. All inter-company balances and transactions have been eliminated in consolidation.
	Fiscal Year
	The Company maintains its accounts on a 52- or 53-week year ending on the Saturday closest to January 31st. Fiscal years 2015 and 2014 each include 52 weeks of operations. The fiscal quarters ended May 2, 2015 and May 3, 2014 refer to the thirteen-week periods ended as of those dates.
	Reclassifications
	Certain prior year amounts in the consolidated statements of cash flows have been reclassified to facilitate comparability with the current year’s presentation.
	Management Estimates and Assumptions
	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues, net of estimated sales return, and expenses during the reporting periods. Actual results could differ materially from those estimates.
	Recent Accounting Pronouncements
	In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. The update requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. This update is effective for fiscal years beginning after December 15, 2015 with early adoption permitted. The adoption of this standard is not expected to have a material effect on our financial condition, results of operations or cash flows.
	In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements - Going Concern: Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, which requires management to evaluate, at each annual and interim reporting period, whether there are conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date the financial statements are issued and provide related disclosures. This guidance is effective for annual periods ending after December 15, 2016 and for annual and interim periods thereafter. The adoption of this guidance is not expected to have a material effect on the Company’s consolidated financial statements or disclosures.
	In May 2014 the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers. This pronouncement was issued to improve the financial reporting of revenue and improve comparability of the top line in financial statements globally and is effective for reporting periods beginning on or after December 15, 2016. In April 2015, the FASB issued a proposed ASU that, if approved, would defer the effective date by one year from the original effective date. The Company is in the process of assessing the provisions of this new guidance and has not determined whether the adoption will have a material impact on our consolidated financial statements.

Earnings_per_Share

Earnings per Share	3 Months Ended
	2-May-15
Earnings Per Share [Abstract]
Earnings per Share	2	Earnings Per Share
	Basic earnings per common share amounts are calculated using the weighted-average number of common shares outstanding for the period. Diluted earnings per common share amounts are calculated using the weighted-average number of common shares outstanding for the period and include the dilutive impact of stock options and restricted stock grants using the more dilutive of treasury stock method or the two-class method. The following table summarizes the potential dilution that could occur if options to acquire common stock were exercised or if the restricted stock grants were fully vested and reconciles the weighted-average common shares outstanding used in the computation of basic and diluted earnings per share:
			Thirteen Weeks Ended
			May 2, 2015		May 3, 2014
			(in thousands, except per share data)
	Numerator:
	Net income		$	7,241	$	8,560
	Denominator:
	Weighted-average common shares outstanding - basic			42,305		42,189
	Options and other dilutive securities			113		173
	Weighted-average common shares outstanding - diluted			42,418		42,362
	Per common share:
	Basic earnings per common share		$	0.17	$	0.2
	Diluted earnings per common share		$	0.17	$	0.2
	Potentially issuable shares under the Company’s stock -based compensation plans amounting to approximately 1.6 million and 0.8 million shares in the thirteen weeks ended May 2, 2015 and May 3, 2014, respectively, were not included in the computation of diluted earnings per share due to their anti-dilutive effect.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	2-May-15
Fair Value Disclosures [Abstract]
Fair Value Measurements	3	Fair Value Measurements
	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The carrying amount reflected in the consolidated balance sheets of financial assets and liabilities, which includes cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities, approximated their fair values due to the short term nature of these financial assets and liabilities.

Income_Taxes

Income Taxes	3 Months Ended
	2-May-15
Income Tax Disclosure [Abstract]
Income Taxes	4	Income Taxes
	The provision for income taxes is based on the current estimate of the annual effective tax rate. The effective income tax rates for the thirteen weeks ended May 2, 2015 and May 3, 2014 were 38.2% and 38.4%, respectively. The difference between our effective tax rate and federal statutory tax rate is primarily related to state income taxes.

Revolving_Credit_Facility

Revolving Credit Facility	3 Months Ended
	2-May-15
Debt Disclosure [Abstract]
Revolving Credit Facility	5	Revolving Credit Facility
	On August 30, 2013, Francesca’s Collections, Inc. (“Francesca’s Collections” or the “Borrower”), as borrower, and its parent company, Francesca’s LLC, a wholly owned subsidiary of the Company, entered into a Second Amended and Restated Credit Agreement with Royal Bank of Canada, as Administrative Agent and Collateral Agent, and the lenders party thereto. The credit facility provides capacity of $75.0 million (including up to $10.0 million for letters of credit) and matures on August 30, 2018.  The facility also contains an option permitting the Borrower, subject to certain requirements and conditions, to arrange with the lenders for additional incremental commitments up to an aggregate of $25.0 million, subject to reductions in the event the Borrower has certain indebtedness outstanding.  At May 2, 2015, no amount or letters of credit were outstanding under the credit facility.
	The credit facility contains customary events of default and requires the Borrower to comply with certain financial covenants. As of May 2, 2015, the Borrower was in compliance with all covenants under the credit facility. The credit facility restricts the amount of dividends the Borrower can pay; provided that the Borrower is permitted to pay dividends to the extent it has available capacity in its available investment basket (as defined in the Second Amended and Restated Credit Agreement), no default or event of default is continuing, certain procedural requirements have been satisfied and the Borrower is in pro forma compliance with a maximum secured leverage ratio. At May 2, 2015, the Borrower would have met the conditions for paying dividends out of the available investment basket. All obligations under the credit facility are secured by substantially all the assets of the Borrower and any subsidiary guarantor, if any. All obligations under the facility are unconditionally guaranteed by, subject to certain exceptions, by Francesca’s LLC and each of the Borrower’s existing and future direct and indirect wholly-owned domestic subsidiaries.

Stockbased_Compensation

Stock-based Compensation	3 Months Ended
	2-May-15
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	6	Stock-based Compensation
	Stock-based compensation cost is measured at the grant date fair value and is recognized as an expense on a straight-line basis over the employee’s requisite service period (generally the vesting period of the equity grant). The Company estimates forfeitures for grants that are not expected to vest. The stock-based compensation cost was $0.8 million in each of the thirteen weeks ended May 2, 2015 and May 3, 2014.
	In March, 2015, the Company established the performance goals for fiscal year 2015 applicable to 114,679 target shares of performance-based restricted stock awarded to certain executives and other key employees. Awards are considered “granted” when the performance goals related to those awards have been established. The number of shares that may ultimately vest will equal 0% to 150% of the target shares subject to the achievement of pre-established performance goals for the applicable fiscal year and the employees’ continued employment through the third year anniversary of the date on which the award was originally approved by the Compensation Committee. The Company recognized approximately $0.1 million and $0 of stock-based compensation costs related to these performance awards in the thirteen weeks ended May 2, 2015 and May 3, 2014, respectively.

Share_Repurchases

Share Repurchases	3 Months Ended
	2-May-15
Stockholders' Equity Note [Abstract]
Share Repurchases	7	Share Repurchases
	On September 3, 2013, the Company’s Board of Directors authorized a $100.0 million share repurchase program commencing on the same date.  This authorization has no expiration date.  Under the repurchase program, purchases can be made from time to time in the open market, in privately negotiated transactions, under Rule 10b5-1 plans or through other available means.  The specific timing and amount of the repurchases is dependent on market conditions, securities law limitations and other factors.  No repurchases were made during the thirteen weeks ended May 2, 2015. During the thirteen weeks ended May 3, 2014, the Company repurchased  285,000 shares of its common stock at a cost of approximately $5.3 million or an average price (including brokers’ commission) of $18.49 per share.  The cost of repurchased shares is presented as treasury stock in the unaudited consolidated balance sheets.  As of May 2, 2015, the remaining balance available for future share repurchase was approximately $39.9 million.

Commitments_and_Contingencies

Commitments and Contingencies	3 Months Ended
	2-May-15
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	8	Commitments and Contingencies
	Operating Leases
	The Company leases boutique space and office space under operating leases expiring in various years through the fiscal year ending 2026. Certain of the leases provide that the Company may cancel the lease, with penalties as defined in the lease, if the Company’s boutique sales at that location fall below an established level. Certain leases provide for additional rent payments to be made when sales exceed a base amount. Certain operating leases provide for renewal options for periods from three to five years at their fair rental value at the time of renewal.
	Minimum future rental payments under non-cancellable operating leases as of May 2, 2015, are as follows:
	Fiscal year		Amount
			(In thousands)
	Remainder of 2015		$	28,029
	2016			37,880
	2017			36,847
	2018			35,144
	2019			32,388
	Thereafter			82,019
			$	252,307
	Legal Proceedings
	On September 27, 2013 and November 4, 2013, two purported class action lawsuits entitled Ortuzar v. Francesca’s Holdings Corp., et al. and West Palm Beach Police Pension Fund v. Francesca’s Holdings Corp., et al. were filed in the United States District Court for the  Southern District of New York against the Company and certain of its current and former directors and officers for alleged violations of the federal securities laws arising from statements in certain public disclosures regarding the Company’s current and future business and financial  condition. On December 19, 2013, the Court consolidated the actions and appointed Arkansas Teacher Retirement System as lead plaintiff. On March 14, 2014, lead plaintiff filed a consolidated class action complaint purportedly on behalf of shareholders that purchased or acquired the Company’s publicly traded common stock between July 22, 2011 and September 3, 2013 against the Company and certain of its current and former directors and officers. The consolidated complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Sections 11, 12(a) (2), and 15 of the Securities Act of 1933 for allegedly false and misleading statements in the Company’s public disclosures concerning, among other things, the Company’s relationship with certain vendors. The lawsuit seeks damages in an unspecified amount. On May 13, 2014 defendants moved to dismiss the consolidated complaint. By Order entered April 1, 2015, the Court granted defendants’ motion to dismiss and dismissed the consolidated complaint in its entirety with prejudice. On April 29, 2015, the Plaintiffs filed a notice of appeal of the Court’s judgment dismissing the consolidated complaint. The Company believes that the allegations contained in the consolidated complaint are without merit and intends to vigorously defend itself against all claims asserted therein. A reasonable estimate of any possible loss or range of loss cannot be made at this time, as such, the Company has not recorded any accrual for possible loss.
	On each of May 28, 2014 and July 8, 2014, a purported shareholder derivative action entitled Daniell v. De Merritt, et al. and Murphy v. Davis, et al., respectively, purportedly on behalf of the Company, was filed in the Delaware Court of Chancery, naming certain of the Company’s current and former officers, directors, and shareholders as defendants and naming the Company as a nominal defendant. On September 3, 2014, the Court of Chancery consolidated the Daniell and Murphy cases. Plaintiffs filed a consolidated amended complaint on September 23, 2014 alleging claims of breach of fiduciary duty and unjust enrichment. The consolidated amended complaint seeks damages in an unspecified amount, an order directing the Company “to reform and improve” corporate governance and internal controls, equitable and/or injunctive relief, restitution and disgorgement from the defendants, and costs and attorneys’ fees. On October 23, 2014, defendants filed a motion to dismiss the consolidated amended complaint, which is now fully briefed. The Company believes that any loss that may arise from this litigation will not have a material adverse effect on the Company’s results of operations or financial condition.
	The Company, from time to time, is subject to various claims and legal proceedings arising in the ordinary course of business.  While the outcome of any such claim cannot be predicted with certainty, in the opinion of management, the outcome of these matters is unlikely to have a material adverse effect on the Company’s business, results of operations or financial condition.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	2-May-15
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation
	The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial statements and are in the form prescribed by the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, these unaudited financial statements include all adjustments, consisting of normal recurring adjustments, considered necessary for a fair presentation of the Company’s financial position, results of operations, changes in equity, and cash flows at the dates and for the periods presented. The financial information as of January 31, 2015 was derived from the Company’s audited consolidated financial statements and notes thereto as of and for the fiscal year ended January 31, 2015 included in the Company’s Annual Report on Form 10-K filed with the SEC on March 27, 2015.
	These unaudited interim consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and related notes as of and for the fiscal year ended January 31, 2015 included in the Company’s Annual Report on Form 10-K.
	Due to seasonal variations in the retail industry, interim results are not necessarily indicative of results that may be expected for any other interim period or for a full year.
Principles of Consolidation	Principles of Consolidation
	The accompanying unaudited consolidated financial statements include the accounts of the Company and all its subsidiaries. All inter-company balances and transactions have been eliminated in consolidation.
Fiscal Year	Fiscal Year
	The Company maintains its accounts on a 52- or 53-week year ending on the Saturday closest to January 31st. Fiscal years 2015 and 2014 each include 52 weeks of operations. The fiscal quarters ended May 2, 2015 and May 3, 2014 refer to the thirteen-week periods ended as of those dates.
Reclassifications	Reclassifications
	Certain prior year amounts in the consolidated statements of cash flows have been reclassified to facilitate comparability with the current year’s presentation.
Management Estimates and Assumptions	Management Estimates and Assumptions
	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues, net of estimated sales return, and expenses during the reporting periods. Actual results could differ materially from those estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements
	In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. The update requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. This update is effective for fiscal years beginning after December 15, 2015 with early adoption permitted. The adoption of this standard is not expected to have a material effect on our financial condition, results of operations or cash flows.
	In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements - Going Concern: Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, which requires management to evaluate, at each annual and interim reporting period, whether there are conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date the financial statements are issued and provide related disclosures. This guidance is effective for annual periods ending after December 15, 2016 and for annual and interim periods thereafter. The adoption of this guidance is not expected to have a material effect on the Company’s consolidated financial statements or disclosures.
	In May 2014 the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers. This pronouncement was issued to improve the financial reporting of revenue and improve comparability of the top line in financial statements globally and is effective for reporting periods beginning on or after December 15, 2016. In April 2015, the FASB issued a proposed ASU that, if approved, would defer the effective date by one year from the original effective date. The Company is in the process of assessing the provisions of this new guidance and has not determined whether the adoption will have a material impact on our consolidated financial statements.
Earnings Per Share	Earnings Per Share
	Basic earnings per common share amounts are calculated using the weighted-average number of common shares outstanding for the period. Diluted earnings per common share amounts are calculated using the weighted-average number of common shares outstanding for the period and include the dilutive impact of stock options and restricted stock grants using the more dilutive of treasury stock method or the two-class method.
Stock-Based Compensation	Stock-based Compensation
	Stock-based compensation cost is measured at the grant date fair value and is recognized as an expense on a straight-line basis over the employee’s requisite service period (generally the vesting period of the equity grant). The Company estimates forfeitures for grants that are not expected to vest. The stock-based compensation cost was $0.8 million in each of the thirteen weeks ended May 2, 2015 and May 3, 2014.

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	3 Months Ended
	2-May-15
Earnings Per Share [Abstract]
Earnings per share	The following table summarizes the potential dilution that could occur if options to acquire common stock were exercised or if the restricted stock grants were fully vested and reconciles the weighted-average common shares outstanding used in the computation of basic and diluted earnings per share:
		Thirteen Weeks Ended
		May 2, 2015		May 3, 2014
		(in thousands, except per share data)
	Numerator:
	Net income	$	7,241	$	8,560
	Denominator:
	Weighted-average common shares outstanding - basic		42,305		42,189
	Options and other dilutive securities		113		173
	Weighted-average common shares outstanding - diluted		42,418		42,362
	Per common share:
	Basic earnings per common share	$	0.17	$	0.2
	Diluted earnings per common share	$	0.17	$	0.2

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	3 Months Ended
	2-May-15
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	Minimum future rental payments under non-cancellable operating leases as of May 2, 2015, are as follows:
	Fiscal year	Amount
		(In thousands)
	Remainder of 2015	$	28,029
	2016		37,880
	2017		36,847
	2018		35,144
	2019		32,388
	Thereafter		82,019
		$	252,307

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Details Textual)	3 Months Ended
	2-May-15	3-May-14
Company Information and Summary of Significant Accounting Policies [Line Items]
Year of Incorporation	2007
State of Incorporation	Delaware
Number of Boutiques in Operation	589
Number of States in which Entity Operates	47
Fiscal Year [Member]
Company Information and Summary of Significant Accounting Policies [Line Items]
Length of Fiscal Period	364 days	364 days
First Quarter [Member]
Company Information and Summary of Significant Accounting Policies [Line Items]
Length of Fiscal Period	91 days	91 days
Maximum [Member] | Fiscal Year [Member]
Company Information and Summary of Significant Accounting Policies [Line Items]
Length of Fiscal Period	371 days
Minimum [Member] | Fiscal Year [Member]
Company Information and Summary of Significant Accounting Policies [Line Items]
Length of Fiscal Period	364 days

Earnings_per_Share_Details

Earnings per Share (Details) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	2-May-15	3-May-14
Numerator:
Net income	$7,241	$8,560
Denominator:
Weighted-average common shares outstanding - basic (in shares)	42,305	42,189
Options and other dilutive securities (in shares)	113	173
Weighted-average common shares outstanding - diluted (in shares)	42,418	42,362
Per common share:
Basic earnings per common share (in dollars per share)	$0.17	$0.20
Diluted earnings per common share (in dollars per share)	$0.17	$0.20

Earnings_per_Share_Details_Tex

Earnings per Share (Details Textual) (Stock Compensation Plan [Member])	3 Months Ended
In Millions, unless otherwise specified	2-May-15	3-May-14
Stock Compensation Plan [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1.6	0.8

Income_Taxes_Details_Textual

Income Taxes (Details Textual)	3 Months Ended
	2-May-15	3-May-14
Income Tax Contingency [Line Items]
Effective Income Tax Rate	38.20%	38.40%

Revolving_Credit_Facility_Deta

Revolving Credit Facility (Details Textual) (USD $)	3 Months Ended
In Millions, unless otherwise specified	2-May-15
Revolving Credit Facility Details
Initiation Date	30-Aug-13
Maximum Borrowing Capacity	$75
Availability for Letters of Credit Under the Revolving Credit Facility	10
Maturity Date	30-Aug-18
Available Option to Increase the Borrowing Capacity Under the Revolving Credit Facility	25
Letters of Credit Outstanding, Amount	0
Amount Outstanding under the Revolving Credit Facility	$0

Stockbased_Compensation_Detail

Stock-based Compensation (Details Textual) (USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	2-May-15	3-May-14
Stock-based Compensation Disclosures
Stock-based Compensation	$0.80	$0.80
Performance Shares [Member]
Stock-based Compensation Disclosures
Stock-based Compensation	$0.10	$0
Performance-based Restricted Stocks Granted During the Period	114,679
Performance Shares [Member] | Minimum [Member]
Stock-based Compensation Disclosures
Percent of Target Shares that May Vest	0.00%
Performance Shares [Member] | Maximum [Member]
Stock-based Compensation Disclosures
Percent of Target Shares that May Vest	150.00%

Share_Repurchases_Details_Text

Share Repurchases (Details Textual) (USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	2-May-15	3-May-14	Sep. 03, 2013
Treasury Stock Disclosure [Line Items]
Amount Authorized Under the Stock Repurchase Program			$100
Number of Treasury Stock Acquired	0	285,000
Cost of Treasury Stocks Acquired		5.3
Average Cost Per Share of Treasury Stock Acquired		$18.49
Remaining Authorized Amount Under the Stock Repurchase Program	$39.90

Commitments_and_Contingencies_1

Commitments and Contingencies (Details) (USD $)	2-May-15
In Thousands, unless otherwise specified
Future Minimum Payments [Abstract]
Remainder of 2015	$28,029
2016	37,880
2017	36,847
2018	35,144
2019	32,388
Thereafter	82,019
Total	$252,307

Commitments_and_Contingencies_2

Commitments and Contingencies (Details Textual)	3 Months Ended
	2-May-15
Operating Leased Assets [Line Items]
Lease Expiration Year	2026
Maximum [Member]
Operating Leased Assets [Line Items]
Lease renewal term option	5 years
Minimum [Member]
Operating Leased Assets [Line Items]
Lease renewal term option	3 years