Ulta Beauty (ULTA) 10-Q 4 Dec 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Nov. 01, 2014	Nov. 25, 2014
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	1-Nov-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Trading Symbol	'ULTA	'
Entity Registrant Name	'Ulta Salon, Cosmetics & Fragrance, Inc.	'
Entity Central Index Key	'0001403568	'
Current Fiscal Year End Date	'--01-31	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	64,365,655

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Nov. 01, 2014	Feb. 01, 2014	Nov. 02, 2013
In Thousands, unless otherwise specified
Current assets:	'	'	'
Cash and cash equivalents	$295,060	$419,476	$240,916
Short-term investments	100,000	'	'
Receivables, net	49,399	47,049	46,911
Merchandise inventories, net	709,667	457,933	582,303
Prepaid expenses and other current assets	60,907	55,993	54,757
Prepaid income taxes	'	'	1,729
Deferred income taxes	15,709	22,246	14,686
Total current assets	1,230,742	1,002,697	941,302
Property and equipment, net	686,898	595,736	590,132
Deferred compensation plan assets	5,119	4,294	3,913
Total assets	1,922,759	1,602,727	1,535,347
Current liabilities:	'	'	'
Accounts payable	236,329	148,282	190,193
Accrued liabilities	128,465	103,180	97,421
Accrued income taxes	4,917	15,349	'
Total current liabilities	369,711	266,811	287,614
Deferred rent	293,895	261,630	259,217
Deferred income taxes	65,880	66,718	55,568
Other long-term liabilities	6,940	4,474	4,629
Total liabilities	736,426	599,633	607,028
Stockholders' equity:	'	'	'
Common stock, $.01 par value, 400,000 shares authorized; 64,992, 64,793 and 64,793 shares issued; 64,414, 64,231 and 64,231 shares outstanding; at November 1, 2014 (unaudited), February 1, 2014 and November 2, 2013 (unaudited), respectively	650	647	647
Treasury stock-common, at cost	-9,713	-8,125	-8,125
Additional paid-in capital	573,118	548,194	544,101
Retained earnings	622,278	462,378	391,696
Total stockholders' equity	1,186,333	1,003,094	928,319
Total liabilities and stockholders' equity	$1,922,759	$1,602,727	$1,535,347

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Nov. 01, 2014	Feb. 01, 2014	Nov. 02, 2013
In Thousands, except Per Share data, unless otherwise specified
Statement of Financial Position [Abstract]	'	'	'
Common stock, par value	$0.01	$0.01	$0.01
Common stock, shares authorized	400,000	400,000	400,000
Common stock, shares issued	64,992	64,793	64,793
Common stock, shares outstanding	64,414	64,231	64,231

Consolidated_Statements_of_Inc

Consolidated Statements of Income (unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Nov. 01, 2014	Nov. 02, 2013	Nov. 01, 2014	Nov. 02, 2013
Income Statement [Abstract]	'	'	'	'
Net sales	$745,722	$618,781	$2,193,728	$1,802,491
Cost of sales	463,967	387,120	1,406,678	1,154,804
Gross profit	281,755	231,661	787,050	647,687
Selling, general and administrative expenses	181,093	151,306	501,304	418,754
Pre-opening expenses	6,574	7,468	12,798	15,483
Operating income	94,088	72,887	272,948	213,450
Interest income, net	-254	-7	-663	-49
Income before income taxes	94,342	72,894	273,611	213,499
Income tax expense	35,218	27,464	103,740	81,332
Net income	$59,124	$45,430	$169,871	$132,167
Net income per common share:	'	'	'	'
Basic	$0.92	$0.71	$2.64	$2.07
Diluted	$0.91	$0.70	$2.63	$2.05
Weighted average common shares outstanding:	'	'	'	'
Basic	64,419	64,061	64,347	63,912
Diluted	64,738	64,538	64,655	64,424

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (unaudited) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Nov. 01, 2014	Nov. 02, 2013
Operating activities	'	'
Net income	$169,871	$132,167
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation and amortization	96,055	77,572
Deferred income taxes	5,699	278
Non-cash stock compensation charges	11,436	11,936
Excess tax benefits from stock-based compensation	-3,290	-13,352
Loss on disposal of property and equipment	2,945	3,374
Change in operating assets and liabilities:	'	'
Receivables	-2,350	-5,396
Merchandise inventories	-251,734	-221,178
Prepaid expenses and other current assets	-4,914	-4,305
Income taxes	-7,142	1,569
Accounts payable	88,047	71,307
Accrued liabilities	7,621	-5,759
Deferred rent	32,265	51,214
Other assets and liabilities	1,641	706
Net cash provided by operating activities	146,150	100,133
Investing activities	'	'
Purchases of short-term investments	-100,000	'
Purchases of property and equipment	-172,498	-176,966
Net cash used in investing activities	-272,498	-176,966
Financing activities	'	'
Repurchase of common shares	-9,972	-37,337
Stock options exercised	10,202	21,890
Excess tax benefits from stock-based compensation	3,290	13,352
Purchase of treasury shares	-1,588	-631
Net cash provided by (used in) financing activities	1,932	-2,726
Net decrease in cash and cash equivalents	-124,416	-79,559
Cash and cash equivalents at beginning of period	419,476	320,475
Cash and cash equivalents at end of period	295,060	240,916
Supplemental cash flow information	'	'
Cash paid for income taxes (net of refunds)	104,891	78,941
Noncash investing activities:	'	'
Change in property and equipment included in accrued liabilities	$17,664	$11,053

Consolidated_Statement_of_Stoc

Consolidated Statement of Stockholders' Equity (unaudited) (USD $)	Total	Common Stock [Member]	Treasury - Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]
In Thousands
Balance at Feb. 01, 2014	$1,003,094	$647	($8,125)	$548,194	$462,378
Balance, Shares at Feb. 01, 2014	'	'	-562	'	'
Balance, Shares at Feb. 01, 2014	'	64,793	'	'	'
Stock options exercised and other awards	10,202	4	'	10,198	'
Stock options exercised and other awards, Shares	'	285	'	'	'
Purchase of treasury shares	-1,588	'	-1,588	'	'
Purchase of treasury shares, Shares	'	'	-16	'	'
Net income for the 39 weeks ended November 1, 2014	169,871	'	'	'	169,871
Excess tax benefits from stock-based compensation	3,290	'	'	3,290	'
Stock compensation charge	11,436	'	'	11,436	'
Repurchase of common shares	-9,972	-1	'	'	-9,971
Repurchase of common shares, Shares	'	-86	'	'	'
Balance at Nov. 01, 2014	$1,186,333	$650	($9,713)	$573,118	$622,278
Balance, Shares at Nov. 01, 2014	'	'	-578	'	'
Balance, Shares at Nov. 01, 2014	'	64,992	'	'	'

Business_and_basis_of_presenta

Business and basis of presentation	9 Months Ended
	Nov. 01, 2014
Accounting Policies [Abstract]	'
Business and basis of presentation	'
	1	Business and basis of presentation
	Ulta Salon, Cosmetics & Fragrance, Inc. was incorporated in the state of Delaware on January 9, 1990, to operate specialty retail stores selling cosmetics, fragrance, haircare and skincare products and related accessories and services. The stores also feature full-service salons. As of November 1, 2014, the Company operated 765 stores in 47 states, as shown in the table below. As used in these notes and throughout this Quarterly Report on Form 10-Q, all references to “we,” “us,” “our,” “Ulta” or the “Company” refer to Ulta Salon, Cosmetics & Fragrance, Inc. and its consolidated subsidiary, Ulta Inc.
	State		Number of	State	Number of
			stores		stores
	Alabama		12	Nebraska	3
	Arizona		24	Nevada	8
	Arkansas		6	New Hampshire	6
	California		87	New Jersey	19
	Colorado		16	New Mexico	2
	Connecticut		8	New York	27
	Delaware		1	North Carolina	25
	Florida		54	North Dakota	1
	Georgia		26	Ohio	28
	Idaho		4	Oklahoma	9
	Illinois		45	Oregon	9
	Indiana		15	Pennsylvania	28
	Iowa		7	Rhode Island	2
	Kansas		6	South Carolina	13
	Kentucky		9	South Dakota	2
	Louisiana		13	Tennessee	10
	Maine		3	Texas	75
	Maryland		12	Utah	11
	Massachusetts		12	Virginia	21
	Michigan		36	Washington	15
	Minnesota		11	West Virginia	4
	Mississippi		5	Wisconsin	13
	Missouri		16	Wyoming	1
	Montana		5	Total	765
	The accompanying unaudited consolidated financial statements and related notes have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and the U.S. Securities and Exchange Commission’s Article 10, Regulation S-X. These consolidated financial statements were prepared on a consolidated basis to include the accounts of the Company and its wholly owned subsidiary. All significant intercompany accounts, transactions, and unrealized profit were eliminated in consolidation. In the opinion of management, the accompanying consolidated financial statements reflect all adjustments, which are of a normal recurring nature, necessary to fairly state the financial position and results of operations and cash flows for the interim periods presented.
	The Company’s business is subject to seasonal fluctuation. Significant portions of the Company’s net sales and net income are realized during the fourth quarter of the fiscal year due to the holiday selling season. The results for the 13 and 39 weeks ended November 1, 2014 are not necessarily indicative of the results to be expected for the fiscal year ending January 31, 2015, or for any other future interim period or for any future year.
	These interim consolidated financial statements and the related notes should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended February 1, 2014. All amounts are stated in thousands, with the exception of per share amounts and number of stores.

Summary_of_significant_account

Summary of significant accounting policies	9 Months Ended
	Nov. 01, 2014
Accounting Policies [Abstract]	'
Summary of significant accounting policies	'
	2	Summary of significant accounting policies
	Information regarding the Company’s significant accounting policies is contained in Note 2, “Summary of significant accounting policies,” to the financial statements in the Company’s Annual Report on Form 10-K for the year ended February 1, 2014. Presented below in this and the following notes is supplemental information that should be read in conjunction with “Notes to Financial Statements” in the Annual Report.
	Fiscal quarter
	The Company’s quarterly periods are the 13 weeks ending on the Saturday closest to April 30, July 31, October 31, and January 31. The Company’s third quarters in fiscal 2014 and 2013 ended on November 1, 2014 and November 2, 2013, respectively.
	Share-based compensation
	The Company measures share-based compensation cost on the grant date, based on the fair value of the award, and recognizes the expense on a straight-line method over the requisite service period for awards expected to vest. The Company estimated the grant date fair value of stock options using a Black-Scholes valuation model using the following weighted-average assumptions for the periods indicated:
			39 Weeks Ended
			November 1, 2014			November 2, 2013
	Volatility rate			40.8	%		49.6	%
	Average risk-free interest rate			1.4	%		0.8	%
	Average expected life (in years)			3.8			4.4
	Dividend yield			None			None
	The Company granted 362 and 286 stock options during the 39 weeks ended November 1, 2014 and November 2, 2013, respectively. The compensation cost that has been charged against operating income was $2,386 and $2,167 for the 13 weeks ended November 1, 2014 and November 2, 2013, respectively. The compensation cost that has been charged against operating income was $6,990 and $7,804 for the 39 weeks ended November 1, 2014 and November 2, 2013, respectively. The weighted-average grant date fair value of these options was $32.22 and $36.77, respectively. At November 1, 2014, there was approximately $19,286 of unrecognized compensation expense related to unvested stock options.
	The Company issued 70 and 139 restricted stock awards during 39 weeks ended November 1, 2014 and November 2, 2013, respectively. The compensation cost that has been charged against operating income was $1,447 and $2,230 for the 13 weeks ended November 1, 2014 and November 2, 2013, respectively. The compensation cost that has been charged against operating income was $4,446 and $4,132 for the 39 weeks ended November 1, 2014 and November 2, 2013, respectively. At November 1, 2014, there was approximately $9,526 of unrecognized compensation expense related to restricted stock awards.
	Recent accounting pronouncements
	In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers, issued as a new Topic, Accounting Standards Codification Topic 606. The new revenue recognition standard provides a five-step analysis of transactions to determine when and how revenue is recognized. The core principle is that the Company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. This standard is effective beginning in fiscal year 2017 and allows for either full retrospective or modified retrospective adoption. The Company is currently evaluating the application method and the impact of this new standard on its consolidated financial position, results of operations and cash flows.

Commitments_and_contingencies

Commitments and contingencies	9 Months Ended
	Nov. 01, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and contingencies	'
	3	Commitments and contingencies
	Leases – The Company leases stores, distribution and office facilities and certain equipment. Original non-cancelable lease terms range from three to ten years, and store leases generally contain renewal options for additional years. A number of the Company’s store leases provide for contingent rent payments based upon sales. Contingent rent amounts were insignificant in the 13 and 39 weeks ended November 1, 2014 and November 2, 2013. Total rent expense under operating leases was $40,840 and $36,897 for the 13 weeks ended November 1, 2014 and November 2, 2013, respectively. Total rent expense under operating leases was $118,319 and $102,837 for 39 weeks ended November 1, 2014 and November 2, 2013, respectively.
	General litigation – On March 2, 2012, a putative employment class action lawsuit was filed against us and certain unnamed defendants in state court in Los Angeles County, California. On April 12, 2012, the Company removed the case to the United States District Court for the Central District of California. On August 8, 2013, the plaintiff asked the court to certify the proposed class and the Company opposed the plaintiff’s request and is waiting for the court to issue a decision. The plaintiff and members of the proposed class are alleged to be (or to have been) non-exempt hourly employees. The suit alleges that Ulta violated various provisions of the California labor laws and failed to provide plaintiff and members of the proposed class with full meal periods, paid rest breaks, certain wages, overtime compensation and premium pay. The suit seeks to recover damages and penalties as a result of these alleged practices. The Company denies plaintiff’s allegations and is vigorously defending the matter.
	The Company has not recorded any accruals for this matter because the Company’s potential liability for the matter is not probable and cannot be reasonably estimated based on currently available information. The Company cannot determine a reasonable estimate of the maximum possible loss or range of loss for this matter given that it is in the early stage of the litigation process and is subject to the inherent uncertainties of litigation (such as the strength of the Company’s legal defenses and the availability of insurance recovery). Although the maximum amount of liability that may ultimately result from this matter cannot be predicted with certainty, management expects that this matter, when ultimately resolved, will not have a material adverse effect on the Company’s consolidated financial position or liquidity. It is possible, however, that the ultimate resolution of this matter could have a material adverse effect on the Company’s results of operations in a particular quarter or year if such resolution results in a significant liability for the Company.
	The Company is also involved in various legal proceedings that are incidental to the conduct of its business. In the opinion of management, the amount of any liability with respect to these proceedings, either individually or in the aggregate, will not be material.

Notes_payable

Notes payable	9 Months Ended
	Nov. 01, 2014
Debt Disclosure [Abstract]	'
Notes payable	'
	4	Notes payable
	On October 19, 2011, the Company entered into an Amended and Restated Loan and Security Agreement (the Loan Agreement) with Wells Fargo Bank, National Association, as Administrative Agent, Collateral Agent and a Lender thereunder, Wells Fargo Capital Finance LLC as a Lender, J.P. Morgan Securities LLC as a Lender, JP Morgan Chase Bank, N.A. as a Lender and PNC Bank, National Association, as a Lender. The Loan Agreement amended and restated the Loan and Security Agreement, dated as of August 31, 2010, by and among the lenders. The Loan Agreement extended the maturity of the Company’s credit facility to October 2016, provides maximum revolving loans equal to the lesser of $200,000 or a percentage of eligible owned inventory, contains a $10,000 subfacility for letters of credit and allows the Company to increase the revolving facility by an additional $50,000, subject to consent by each lender and other conditions. The Loan Agreement contains a requirement to maintain a minimum amount of excess borrowing availability at all times.
	On September 5, 2012, the Company entered into Amendment No. 1 to Amended and Restated Loan and Security Agreement (the First Amendment) with the lender group. The First Amendment updated certain administrative terms and conditions and provides the Company greater flexibility to take certain corporate actions. There were no changes to the revolving loan amounts available, interest rates, covenants or maturity date under terms of the Loan Agreement.
	On December 6, 2013, the Company entered into Amendment No. 2 to the Amended and Restated Loan and Security Agreement (the Second Amendment) with the lender group. The Second Amendment extended the maturity of the facility to December 2018. Substantially all of the Company’s assets are pledged as collateral for outstanding borrowings under the facility. Outstanding borrowings will bear interest at the prime rate or Libor plus 1.50% and the unused line fee is 0.20%.
	As of November 1, 2014, February 1, 2014 and November 2, 2013, the Company had no borrowings outstanding under the credit facility and the Company was in compliance with all terms and covenants of the agreement.

Investments

Investments	9 Months Ended
	Nov. 01, 2014
Investments Schedule [Abstract]	'
Investments	'
	5	Investments
	The Company’s short-term investments as of November 1, 2014 consist of $50,000 in certificates of deposit and $50,000 in time deposits. These short-term investments are carried at cost, which approximates fair value and are recorded in the Consolidated Balance Sheets in Short-term investments. The contractual maturity of the Company’s investments was less than twelve months at November 1, 2014.

Fair_Value_Measurements

Fair Value Measurements	9 Months Ended
	Nov. 01, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Measurements	'
	6	Fair Value Measurements
	The carrying value of cash and cash equivalents, accounts receivable, and accounts payable approximates their estimated fair values due to the short maturities of these instruments.
	Fair value is measured using inputs from the three levels of the fair value hierarchy, which are described as follows:
		•	Level 1 – observable inputs such as quoted prices for identical instruments in active markets.
		•	Level 2 – inputs other than quoted prices in active markets that are observable either directly or indirectly through corroboration with observable market data.
		•	Level 3 – unobservable inputs in which there is little or no market data, which would require the Company to develop its own assumptions.
	As of November 1, 2014, the Company held financial liabilities of $5,121 related to its non-qualified deferred compensation plan. The liabilities have been categorized as Level 2 as they are based on third-party reported net asset values, which are based primarily on quoted market prices of underlying assets of the funds within the plan.

Net_income_per_common_share

Net income per common share	9 Months Ended
	Nov. 01, 2014
Earnings Per Share [Abstract]	'
Net income per common share	'
	7	Net income per common share
	The following is a reconciliation of net income and the number of shares of common stock used in the computation of net income per basic and diluted share:
			13 Weeks Ended				39 Weeks Ended
			November 1,		November 2,		November 1,		November 2,
	(In thousands, except per share data)		2014		2013		2014		2013
	Net income		$	59,124	$	45,430	$	169,871	$	132,167
	Denominator for basic net income per share – weighted-average common shares			64,419		64,061		64,347		63,912
	Dilutive effect of stock options and non-vested stock			319		477		308		512
	Denominator for diluted net income per share			64,738		64,538		64,655		64,424
	Net income per common share:
	Basic		$	0.92	$	0.71	$	2.64	$	2.07
	Diluted		$	0.91	$	0.7	$	2.63	$	2.05
	The denominators for diluted net income per common share for the 13 weeks ended November 1, 2014 and November 2, 2013 exclude 500 and 254 employee stock options, respectively, due to their anti-dilutive effects.
	The denominators for diluted net income per common share for the 39 weeks ended November 1, 2014 and November 2, 2013 exclude 744 and 669 employee stock options, respectively, due to their anti-dilutive effects.

Share_repurchase_program

Share repurchase program	9 Months Ended
	Nov. 01, 2014
Equity [Abstract]	'
Share repurchase program	'
	8	Share repurchase program
	On March 18, 2013, the Company announced that our Board of Directors had authorized a share repurchase program (the 2013 Share Repurchase Program) pursuant to which the Company could repurchase up to $150,000 of the Company’s common stock. Repurchases pursuant to the terms of the 2013 Share Repurchase Program were made from time to time in the open market, in privately negotiated transactions or otherwise, at prices the Company deemed appropriate and subject to market conditions, applicable law and other factors deemed relevant in the Company’s sole discretion. The 2013 Share Repurchase Program did not have an expiration date, but provided for suspension or discontinuation at any time.
	On September 11, 2014, the Company announced that our Board of Directors authorized a new share repurchase program (the 2014 Share Repurchase Program) pursuant to which the Company may repurchase up to $300,000 of the Company’s common stock. The 2014 Share Repurchase Program authorization revokes the previously authorized but unused amounts of $112,664 from the 2013 Share Repurchase Program. The 2014 Share Repurchase Program does not have an expiration date and may be suspended or discontinued at any time.
	During the 39 weeks ended November 2, 2013, we purchased 501 shares of common stock for $37,337 at an average price of $74.58. During the 13 and 39 weeks ended November 1, 2014, the Company purchased 86 shares of common stock for $9,972 at an average price of $116.09.

Summary_of_significant_account1

Summary of significant accounting policies (Policies)	9 Months Ended
	Nov. 01, 2014
Accounting Policies [Abstract]	'
Fiscal quarter	'
	Fiscal quarter
	The Company’s quarterly periods are the 13 weeks ending on the Saturday closest to April 30, July 31, October 31, and January 31. The Company’s third quarters in fiscal 2014 and 2013 ended on November 1, 2014 and November 2, 2013, respectively.
Share-based compensation	'
	Share-based compensation
	The Company measures share-based compensation cost on the grant date, based on the fair value of the award, and recognizes the expense on a straight-line method over the requisite service period for awards expected to vest.
Recent accounting pronouncements	'
	Recent accounting pronouncements
	In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers, issued as a new Topic, Accounting Standards Codification Topic 606. The new revenue recognition standard provides a five-step analysis of transactions to determine when and how revenue is recognized. The core principle is that the Company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. This standard is effective beginning in fiscal year 2017 and allows for either full retrospective or modified retrospective adoption. The Company is currently evaluating the application method and the impact of this new standard on its consolidated financial position, results of operations, and cash flows.

Business_and_basis_of_presenta1

Business and basis of presentation (Tables)	9 Months Ended
	Nov. 01, 2014
Accounting Policies [Abstract]	'
Details of Company Operated Stores	'
	As of November 1, 2014, the Company operated 765 stores in 47 states, as shown in the table below. As used in these notes and throughout this Quarterly Report on Form 10-Q, all references to “we,” “us,” “our,” “Ulta” or the “Company” refer to Ulta Salon, Cosmetics & Fragrance, Inc. and its consolidated subsidiary, Ulta Inc.
	State	Number of	State	Number of
		stores		stores
	Alabama	12	Nebraska	3
	Arizona	24	Nevada	8
	Arkansas	6	New Hampshire	6
	California	87	New Jersey	19
	Colorado	16	New Mexico	2
	Connecticut	8	New York	27
	Delaware	1	North Carolina	25
	Florida	54	North Dakota	1
	Georgia	26	Ohio	28
	Idaho	4	Oklahoma	9
	Illinois	45	Oregon	9
	Indiana	15	Pennsylvania	28
	Iowa	7	Rhode Island	2
	Kansas	6	South Carolina	13
	Kentucky	9	South Dakota	2
	Louisiana	13	Tennessee	10
	Maine	3	Texas	75
	Maryland	12	Utah	11
	Massachusetts	12	Virginia	21
	Michigan	36	Washington	15
	Minnesota	11	West Virginia	4
	Mississippi	5	Wisconsin	13
	Missouri	16	Wyoming	1
	Montana	5	Total	765

Summary_of_significant_account2

Summary of significant accounting policies (Tables)	9 Months Ended
	Nov. 01, 2014
Accounting Policies [Abstract]	'
Black-Scholes Valuation Model Weighted-Average Assumptions	'
	The Company estimated the grant date fair value of stock options using a Black-Scholes valuation model using the following weighted-average assumptions for the periods indicated:
		39 Weeks Ended
		November 1, 2014			November 2, 2013
	Volatility rate		40.8	%		49.6	%
	Average risk-free interest rate		1.4	%		0.8	%
	Average expected life (in years)		3.8			4.4
	Dividend yield		None			None

Net_income_per_common_share_Ta

Net income per common share (Tables)	9 Months Ended
	Nov. 01, 2014
Earnings Per Share [Abstract]	'
Net Income Per Basic and Diluted Share	'
	The following is a reconciliation of net income and the number of shares of common stock used in the computation of net income per basic and diluted share:
		13 Weeks Ended				39 Weeks Ended
		November 1,		November 2,		November 1,		November 2,
	(In thousands, except per share data)	2014		2013		2014		2013
	Net income	$	59,124	$	45,430	$	169,871	$	132,167
	Denominator for basic net income per share – weighted-average common shares		64,419		64,061		64,347		63,912
	Dilutive effect of stock options and non-vested stock		319		477		308		512
	Denominator for diluted net income per share		64,738		64,538		64,655		64,424
	Net income per common share:
	Basic	$	0.92	$	0.71	$	2.64	$	2.07
	Diluted	$	0.91	$	0.7	$	2.63	$	2.05

Recovered_Sheet1

Business and Basis of Presentation - Additional Information (Detail)	Nov. 01, 2014
	State
	Store
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Number of stores	765
Number of states in which entity operates	47

Recovered_Sheet2

Business and Basis of Presentation - Details of Company Operated Stores (Detail)	Nov. 01, 2014
	Store
Product Information [Line Items]	'
Number of stores	765
Alabama [Member]	'
Product Information [Line Items]	'
Number of stores	12
Arizona [Member]	'
Product Information [Line Items]	'
Number of stores	24
Arkansas [Member]	'
Product Information [Line Items]	'
Number of stores	6
California [Member]	'
Product Information [Line Items]	'
Number of stores	87
Colorado [Member]	'
Product Information [Line Items]	'
Number of stores	16
Connecticut [Member]	'
Product Information [Line Items]	'
Number of stores	8
Delaware [Member]	'
Product Information [Line Items]	'
Number of stores	1
Florida [Member]	'
Product Information [Line Items]	'
Number of stores	54
Georgia [Member]	'
Product Information [Line Items]	'
Number of stores	26
Idaho [Member]	'
Product Information [Line Items]	'
Number of stores	4
Illinois [Member]	'
Product Information [Line Items]	'
Number of stores	45
Indiana [Member]	'
Product Information [Line Items]	'
Number of stores	15
Iowa [Member]	'
Product Information [Line Items]	'
Number of stores	7
Kansas [Member]	'
Product Information [Line Items]	'
Number of stores	6
Kentucky [Member]	'
Product Information [Line Items]	'
Number of stores	9
Louisiana [Member]	'
Product Information [Line Items]	'
Number of stores	13
Maine [Member]	'
Product Information [Line Items]	'
Number of stores	3
Maryland [Member]	'
Product Information [Line Items]	'
Number of stores	12
Massachusetts [Member]	'
Product Information [Line Items]	'
Number of stores	12
Michigan [Member]	'
Product Information [Line Items]	'
Number of stores	36
Minnesota [Member]	'
Product Information [Line Items]	'
Number of stores	11
Mississippi [Member]	'
Product Information [Line Items]	'
Number of stores	5
Missouri [Member]	'
Product Information [Line Items]	'
Number of stores	16
Montana [Member]	'
Product Information [Line Items]	'
Number of stores	5
Nebraska [Member]	'
Product Information [Line Items]	'
Number of stores	3
Nevada [Member]	'
Product Information [Line Items]	'
Number of stores	8
New Hampshire [Member]	'
Product Information [Line Items]	'
Number of stores	6
New Jersey [Member]	'
Product Information [Line Items]	'
Number of stores	19
New Mexico [Member]	'
Product Information [Line Items]	'
Number of stores	2
New York [Member]	'
Product Information [Line Items]	'
Number of stores	27
North Carolina [Member]	'
Product Information [Line Items]	'
Number of stores	25
North Dakota [Member]	'
Product Information [Line Items]	'
Number of stores	1
Ohio [Member]	'
Product Information [Line Items]	'
Number of stores	28
Oklahoma [Member]	'
Product Information [Line Items]	'
Number of stores	9
Oregon [Member]	'
Product Information [Line Items]	'
Number of stores	9
Pennsylvania [Member]	'
Product Information [Line Items]	'
Number of stores	28
Rhode Island [Member]	'
Product Information [Line Items]	'
Number of stores	2
South Carolina [Member]	'
Product Information [Line Items]	'
Number of stores	13
South Dakota [Member]	'
Product Information [Line Items]	'
Number of stores	2
Tennessee [Member]	'
Product Information [Line Items]	'
Number of stores	10
Texas [Member]	'
Product Information [Line Items]	'
Number of stores	75
Utah [Member]	'
Product Information [Line Items]	'
Number of stores	11
Virginia [Member]	'
Product Information [Line Items]	'
Number of stores	21
Washington [Member]	'
Product Information [Line Items]	'
Number of stores	15
West Virginia [Member]	'
Product Information [Line Items]	'
Number of stores	4
Wisconsin [Member]	'
Product Information [Line Items]	'
Number of stores	13
Wyoming [Member]	'
Product Information [Line Items]	'
Number of stores	1

Recovered_Sheet3

Summary of Significant Accounting Policies - Black-Scholes Valuation Model Weighted-Average Assumptions (Detail)	9 Months Ended
	Nov. 01, 2014	Nov. 02, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'	'
Volatility rate	40.80%	49.60%
Average risk-free interest rate	1.40%	0.80%
Average expected life (in years)	'3 years 9 months 18 days	'4 years 4 months 24 days
Dividend yield	'	'

Recovered_Sheet4

Summary of Significant Accounting Policies - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Nov. 01, 2014	Nov. 02, 2013	Nov. 01, 2014	Nov. 02, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Compensation expenses	'	'	$11,436	$11,936
Employee Stock Option [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Number of shares granted	'	'	362	286
Weighted average fair value of stock option	'	'	$32.22	$36.77
Compensation expenses	2,386	2,167	6,990	7,804
Unrecognized compensation expense	19,286	'	19,286	'
Restricted Stock [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'
Number of shares granted	'	'	70	139
Compensation expenses	1,447	2,230	4,446	4,132
Unrecognized compensation expense	$9,526	'	$9,526	'

Commitments_and_Contingencies_

Commitments and Contingencies - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Nov. 01, 2014	Nov. 02, 2013	Nov. 01, 2014	Nov. 02, 2013
Commitments and Contingencies Disclosure [Abstract]	'	'	'	'
Non-cancelable operating lease terms, minimum	'	'	'3 years	'
Non-cancelable operating lease terms, maximum	'	'	'10 years	'
Total rent expense under operating leases	$40,840	$36,897	$118,319	$102,837

Notes_Payable_Additional_Infor

Notes Payable - Additional Information (Detail) (USD $)	9 Months Ended
	Nov. 01, 2014	Feb. 01, 2014	Nov. 02, 2013
Line of Credit Facility [Line Items]	'	'	'
Letters of credit, maximum borrowing capacity	$200,000,000	'	'
Additional credit available under the revolving facility with consent by each lender and other conditions	50,000,000	'	'
Interest rate on outstanding borrowing under facility	'Libor plus 1.50%	'	'
Percentage of unused Line of Credit Facility Fee	0.20%	'	'
Outstanding debt under credit facility	0	0	0
Subfacility for Standby Letters of Credit [Member]	'	'	'
Line of Credit Facility [Line Items]	'	'	'
Letters of credit, maximum borrowing capacity	$10,000,000	'	'

Investments_Additional_Informa

Investments - Additional Information (Detail) (USD $)	Nov. 01, 2014
In Thousands, unless otherwise specified
Investments Schedule [Abstract]	'
Certificates of deposit	$50,000
Time deposits	$50,000

Fair_Value_Measurements_Additi

Fair Value Measurements - Additional Information (Detail) (Fair Value, Inputs, Level 2 [Member], USD $)	Nov. 01, 2014
In Thousands, unless otherwise specified
Fair Value, Inputs, Level 2 [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Deferred compensation plan liability	$5,121

Net_Income_Per_Common_Share_Ne

Net Income Per Common Share - Net Income Per Basic and Diluted Share (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Nov. 01, 2014	Nov. 02, 2013	Nov. 01, 2014	Nov. 02, 2013
Earnings Per Share [Abstract]	'	'	'	'
Net income	$59,124	$45,430	$169,871	$132,167
Denominator for basic net income per share - weighted-average common shares	64,419	64,061	64,347	63,912
Dilutive effect of stock options and non-vested stock	319	477	308	512
Denominator for diluted net income per share	64,738	64,538	64,655	64,424
Net income per common share:	'	'	'	'
Basic	$0.92	$0.71	$2.64	$2.07
Diluted	$0.91	$0.70	$2.63	$2.05

Net_Income_Per_Common_Share_Ad

Net Income Per Common Share - Additional Information (Detail)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Nov. 01, 2014	Nov. 02, 2013	Nov. 01, 2014	Nov. 02, 2013
Earnings Per Share [Abstract]	'	'	'	'
Antidilutive stock option excluded from computation of net income per common share	500	254	744	669

Share_Repurchase_Program_Addit

Share Repurchase Program - Additional Information (Detail) (USD $)	9 Months Ended					3 Months Ended	9 Months Ended
Share data in Thousands, except Per Share data, unless otherwise specified	Nov. 01, 2014	Nov. 02, 2013	Nov. 02, 2013	Sep. 11, 2014	Nov. 02, 2013	Nov. 01, 2014	Nov. 01, 2014	Sep. 11, 2014
			2013 Share Repurchase Program [Member]	2013 Share Repurchase Program [Member]	2013 Share Repurchase Program [Member]	2014 Share Repurchase Program [Member]	2014 Share Repurchase Program [Member]	2014 Share Repurchase Program [Member]
					Maximum [Member]			Maximum [Member]
Share Repurchase Program [Line Items]	'	'	'	'	'	'	'	'
Repurchase of common stock authorized amount	'	'	'	'	$150,000,000	'	'	$300,000,000
Repurchase of common stock, shares	'	'	501	'	'	86	86	'
Repurchase of common stock	9,972,000	37,337,000	37,337,000	'	'	9,972,000	9,972,000	'
Repurchase of common stock, average price per share	'	'	$74.58	'	'	$116.09	$116.09	'
Shares authorized but unused amount revoked	'	'	'	$112,664,000	'	'	'	'