Ulta Beauty (ULTA) 10-Q 4 Jun 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	2-May-15	28-May-15
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	2-May-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Trading Symbol	ULTA
Entity Registrant Name	Ulta Salon, Cosmetics & Fragrance, Inc.
Entity Central Index Key	1403568
Current Fiscal Year End Date	-29
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		64,232,738

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	$386,007	$389,149	$456,709
Short-term investments	150,209	150,209
Receivables, net	43,558	52,440	26,722
Merchandise inventories, net	662,936	581,229	531,427
Prepaid expenses and other current assets	61,725	66,548	53,391
Deferred income taxes	20,766	20,780	22,241
Total current assets	1,325,201	1,260,355	1,090,490
Property and equipment, net	744,665	717,159	603,933
Deferred compensation plan assets	8,085	5,656	4,802
Total assets	2,077,951	1,983,170	1,699,225
Current liabilities:
Accounts payable	209,509	190,778	184,148
Accrued liabilities	139,284	149,412	90,343
Accrued income taxes	34,871	19,404	27,928
Total current liabilities	383,664	359,594	302,419
Deferred rent	305,355	294,127	264,679
Deferred income taxes	75,135	74,498	67,019
Other long-term liabilities	10,812	7,442	5,352
Total liabilities	774,966	735,661	639,469
Commitments and contingencies (Note 3)
Stockholders' equity:
Common stock, $.01 par value, 400,000 shares authorized; 64,770, 64,762 and 64,899 shares issued; 64,185, 64,184 and 64,324 shares outstanding; at May 2, 2015 (unaudited), January 31, 2015 and May 3, 2014 (unaudited), respectively	647	647	649
Treasury stock-common, at cost	-10,726	-9,713	-9,378
Additional paid-in capital	594,479	576,982	556,154
Retained earnings	718,585	679,593	512,331
Total stockholders' equity	1,302,985	1,247,509	1,059,756
Total liabilities and stockholders' equity	$2,077,951	$1,983,170	$1,699,225

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	2-May-15	Jan. 31, 2015	3-May-14
Statement of Financial Position [Abstract]
Common stock, par value	$0.01	$0.01	$0.01
Common stock, shares authorized	400,000,000	400,000,000	400,000,000
Common stock, shares issued	64,770,000	64,762,000	64,899,000
Common stock, shares outstanding	64,185,000	64,184,000	64,324,000

Consolidated_Statements_of_Inc

Consolidated Statements of Income (Unaudited) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	2-May-15	3-May-14
Income Statement [Abstract]
Net sales	$868,122	$713,770
Cost of sales	564,938	467,817
Gross profit	303,184	245,953
Selling, general and administrative expenses	192,485	162,443
Pre-opening expenses	3,117	2,629
Operating income	107,582	80,881
Interest income, net	-311	-200
Income before income taxes	107,893	81,081
Income tax expense	40,947	31,128
Net income	$66,946	$49,953
Net income per common share:
Basic	$1.04	$0.78
Diluted	$1.04	$0.77
Weighted average common shares outstanding:
Basic	64,180	64,273
Diluted	64,555	64,607

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	2-May-15	3-May-14
Operating activities
Net income	$66,946	$49,953
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	37,967	30,473
Deferred income taxes	651	306
Non-cash stock compensation charges	3,342	4,063
Excess tax benefits from stock-based compensation	-4,003	-901
Loss on disposal of property and equipment	1,121	874
Change in operating assets and liabilities:
Receivables	8,882	20,327
Merchandise inventories	-81,707	-73,494
Prepaid expenses and other current assets	4,823	2,602
Income taxes	19,470	13,480
Accounts payable	18,731	35,866
Accrued liabilities	-20,100	-13,275
Deferred rent	11,228	3,049
Other assets and liabilities	941	370
Net cash provided by operating activities	68,292	73,693
Investing activities
Purchases of property and equipment	-56,622	-39,106
Net cash used in investing activities	-56,622	-39,106
Financing activities
Repurchase of common shares	-27,956
Stock options exercised	10,154	2,998
Excess tax benefits from stock-based compensation	4,003	901
Purchase of treasury shares	-1,013	-1,253
Net cash (used in) provided by financing activities	-14,812	2,646
Net (decrease) increase in cash and cash equivalents	-3,142	37,233
Cash and cash equivalents at beginning of period	389,149	419,476
Cash and cash equivalents at end of period	386,007	456,709
Supplemental cash flow information
Cash paid for income taxes (net of refunds)	20,645	17,160
Non-cash investing activities:
Change in property and equipment included in accrued liabilities	$9,972	$436

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 Jan. 31, 2015	$1,247,509	$647	($9,713)	$576,982	$679,593
Balance, Shares at Jan. 31, 2015			-578
Balance, Shares at Jan. 31, 2015		64,762
Stock options exercised and other awards	10,154	2		10,152
Stock options exercised and other awards, Shares		200
Purchase of treasury shares	-1,013		-1,013
Purchase of treasury shares, Shares			-7
Net income	66,946				66,946
Excess tax benefits from stock-based compensation	4,003			4,003
Stock compensation charge	3,342			3,342
Repurchase of common shares	-27,956	-2			-27,954
Repurchase of common shares, Shares		-192
Balance at May. 02, 2015	$1,302,985	$647	($10,726)	$594,479	$718,585
Balance, Shares at May. 02, 2015			-585
Balance, Shares at May. 02, 2015		64,770

Business_and_Basis_of_Presenta

Business and Basis of Presentation	3 Months Ended
	2-May-15
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 May 2, 2015, the Company operated 797 stores in 48 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,” “Ulta Beauty” 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	Montana		5
	Alaska			2	Nebraska		3
	Arizona			24	Nevada		9
	Arkansas			6	New Hampshire		6
	California			93	New Jersey		20
	Colorado			17	New Mexico		3
	Connecticut			8	New York		29
	Delaware			1	North Carolina		25
	Florida			55	North Dakota		1
	Georgia			26	Ohio		29
	Idaho			4	Oklahoma		9
	Illinois			45	Oregon		9
	Indiana			15	Pennsylvania		29
	Iowa			7	Rhode Island		2
	Kansas			6	South Carolina		13
	Kentucky			10	South Dakota		2
	Louisiana			16	Tennessee		11
	Maine			3	Texas		80
	Maryland			12	Utah		11
	Massachusetts			13	Virginia		21
	Michigan			37	Washington		16
	Minnesota			12	West Virginia		4
	Mississippi			5	Wisconsin		14
	Missouri			16	Wyoming		1
					Total		797
	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 weeks ended May 2, 2015 are not necessarily indicative of the results to be expected for the fiscal year ending January 30, 2016, 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 January 31, 2015. 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	3 Months Ended
	2-May-15
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 January 31, 2015. Presented below and in 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 first quarters in fiscal 2015 and 2014 ended on May 2, 2015 and May 3, 2014, 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:
			13 Weeks Ended
			May 2, 2015			May 3, 2014
	Volatility rate			38	%		41.1	%
	Average risk-free interest rate			1.1	%		1.4	%
	Average expected life (in years)			3.6			3.8
	Dividend yield			None			None
	The Company granted 87 and 287 stock options during the 13 weeks ended May 2, 2015 and May 3, 2014, respectively. The compensation cost that has been charged against operating income for stock option grants was $2,031 and $2,133 for the 13 weeks ended May 2, 2015 and May 3, 2014, respectively. The weighted-average grant date fair value of these options was $44.84 and $32.04, respectively. At May 2, 2015, there was approximately $17,440 of unrecognized compensation expense related to unvested stock options.
	The Company issued 63 and 46 restricted stock awards during the 13 weeks ended May 2, 2015 and May 3, 2014, respectively. The compensation cost that has been charged against operating income for restricted stock awards was $1,311 and $1,930 for the 13 weeks ended May 2, 2015 and May 3, 2014, respectively. At May 2, 2015, there was approximately $15,322 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. In April 2015, the FASB voted for a proposed one-year deferral of the effective date of the new revenue recognition standard. If approved, the new standard will be effective beginning in fiscal year 2018 with early adoption as of the original effective date permitted. The standard 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	3 Months Ended
	2-May-15
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	3	Commitments and contingencies
	Leases – The Company leases retail stores, distribution and office facilities, and certain equipment. Original non-cancelable lease terms range from three to ten years, and leases generally contain renewal options for additional years. A number of the Company’s store leases provide for contingent rental payments based upon sales. Contingent rent amounts were insignificant in the 13 weeks ended May 2, 2015 and May 3, 2014. Total rent expense under operating leases was $44,558 and $38,538 for 13 weeks ended May 2, 2015 and May 3, 2014, 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.
	On December 4, 2013, a putative employment class action lawsuit was filed against us in the Superior Court of California, Santa Clara County and was removed to the U.S. Northern District Court of California on January 8, 2014. It seeks class action certification for claims involving payment of wages using an ATM card; allegedly failing to provide accurate and complete wage statements; allegedly failing to pay all minimum and overtime wages; and allegedly failing to pay meal and rest break premiums due to Ulta’s exit inspection practice. On August 29, 2014, the court stayed the exit inspection portion of the litigation, thus the case is proceeding with respect to the paycard-related claims. The issue in this class action is whether Ulta was required by law to obtain employee consent to use pay cards for purposes of supplemental and final pay, and whether the pay statements issued in conjunction with pay cards complied with California’s Labor Code provision. 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 parties have agreed to private mediation, which is set for September 2, 2015.
	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	3 Months Ended
	2-May-15
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 May 2, 2015, January 31, 2015 and May 3, 2014, the Company had no borrowings outstanding under the credit facility and the Company was in compliance with all terms and covenants of the agreement.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	2-May-15
Fair Value Disclosures [Abstract]
Fair Value Measurements	5	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 May 2, 2015, January 31, 2015 and May 3, 2014, the Company held financial liabilities of $8,269, $5,574 and $4,376, respectively, 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	3 Months Ended
	2-May-15
Earnings Per Share [Abstract]
Net Income Per Common Share	6	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
	(In thousands, except per share data)		May 2,		May 3,
			2015		2014
	Numerator for diluted net income per share – net income		$	66,946	$	49,953
	Denominator for basic net income per share – weighted-average common shares			64,180		64,273
	Dilutive effect of stock options and non-vested stock			375		334
	Denominator for diluted net income per share			64,555		64,607
	Net income per common share:
	Basic		$	1.04	$	0.78
	Diluted		$	1.04	$	0.77
	The denominators for diluted net income per common share for the 13 weeks ended May 2, 2015 and May 3, 2014 exclude 200 and 665 employee stock options, respectively, due to their anti-dilutive effects.

Share_Repurchase_Program

Share Repurchase Program	3 Months Ended
	2-May-15
Equity [Abstract]
Share Repurchase Program	7	Share repurchase program
	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 revoked the previously authorized but unused amounts of $112,664 from the share repurchase program adopted in 2013. The 2014 Share Repurchase Program does not have an expiration date and may be suspended or discontinued at any time.
	On March 12, 2015, the Company announced that our Board of Directors authorized an increase of $100 million to the 2014 Share Repurchase Program effective March 17, 2015.
	During the 13 weeks ended May 2, 2015, we purchased 192 shares of common stock for $27,956 at an average price of $145.26. There were no repurchases during the 13 weeks ended May 3, 2014.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	2-May-15
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 first quarters in fiscal 2015 and 2014 ended on May 2, 2015 and May 3, 2014, 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. 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:
		13 Weeks Ended
		May 2, 2015			May 3, 2014
	Volatility rate		38	%		41.1	%
	Average risk-free interest rate		1.1	%		1.4	%
	Average expected life (in years)		3.6			3.8
	Dividend yield		None			None
	The Company granted 87 and 287 stock options during the 13 weeks ended May 2, 2015 and May 3, 2014, respectively. The compensation cost that has been charged against operating income for stock option grants was $2,031 and $2,133 for the 13 weeks ended May 2, 2015 and May 3, 2014, respectively. The weighted-average grant date fair value of these options was $44.84 and $32.04, respectively. At May 2, 2015, there was approximately $17,440 of unrecognized compensation expense related to unvested stock options.
	The Company issued 63 and 46 restricted stock awards during the 13 weeks ended May 2, 2015 and May 3, 2014, respectively. The compensation cost that has been charged against operating income for restricted stock awards was $1,311 and $1,930 for the 13 weeks ended May 2, 2015 and May 3, 2014, respectively. At May 2, 2015, there was approximately $15,322 of unrecognized compensation expense related to restricted stock awards.
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. In April 2015, the FASB voted for a proposed one-year deferral of the effective date of the new revenue recognition standard. If approved, the new standard will be effective beginning in fiscal year 2018 with early adoption as of the original effective date permitted. The standard 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)	3 Months Ended
	2-May-15
Accounting Policies [Abstract]
Details of Company Operated Stores	As of May 2, 2015, the Company operated 797 stores in 48 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,” “Ulta Beauty” 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	Montana		5
	Alaska		2	Nebraska		3
	Arizona		24	Nevada		9
	Arkansas		6	New Hampshire		6
	California		93	New Jersey		20
	Colorado		17	New Mexico		3
	Connecticut		8	New York		29
	Delaware		1	North Carolina		25
	Florida		55	North Dakota		1
	Georgia		26	Ohio		29
	Idaho		4	Oklahoma		9
	Illinois		45	Oregon		9
	Indiana		15	Pennsylvania		29
	Iowa		7	Rhode Island		2
	Kansas		6	South Carolina		13
	Kentucky		10	South Dakota		2
	Louisiana		16	Tennessee		11
	Maine		3	Texas		80
	Maryland		12	Utah		11
	Massachusetts		13	Virginia		21
	Michigan		37	Washington		16
	Minnesota		12	West Virginia		4
	Mississippi		5	Wisconsin		14
	Missouri		16	Wyoming		1
				Total		797

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	2-May-15
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:
		13 Weeks Ended
		May 2, 2015			May 3, 2014
	Volatility rate		38	%		41.1	%
	Average risk-free interest rate		1.1	%		1.4	%
	Average expected life (in years)		3.6			3.8
	Dividend yield		None			None

Net_Income_Per_Common_Share_Ta

Net Income Per Common Share (Tables)	3 Months Ended
	2-May-15
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
	(In thousands, except per share data)	May 2,		May 3,
		2015		2014
	Numerator for diluted net income per share – net income	$	66,946	$	49,953
	Denominator for basic net income per share – weighted-average common shares		64,180		64,273
	Dilutive effect of stock options and non-vested stock		375		334
	Denominator for diluted net income per share		64,555		64,607
	Net income per common share:
	Basic	$	1.04	$	0.78
	Diluted	$	1.04	$	0.77

Business_and_Basis_of_Presenta2

Business and Basis of Presentation - Additional Information (Detail)	2-May-15
	State
	Store
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of stores	797
Number of states in which entity operates	48

Business_and_Basis_of_Presenta3

Business and Basis of Presentation - Details of Company Operated Stores (Detail)	2-May-15
	Store
Product Information [Line Items]
Number of stores	797
Alabama [Member]
Product Information [Line Items]
Number of stores	12
Alaska [Member]
Product Information [Line Items]
Number of stores	2
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	93
Colorado [Member]
Product Information [Line Items]
Number of stores	17
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	55
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	10
Louisiana [Member]
Product Information [Line Items]
Number of stores	16
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	13
Michigan [Member]
Product Information [Line Items]
Number of stores	37
Minnesota [Member]
Product Information [Line Items]
Number of stores	12
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	9
New Hampshire [Member]
Product Information [Line Items]
Number of stores	6
New Jersey [Member]
Product Information [Line Items]
Number of stores	20
New Mexico [Member]
Product Information [Line Items]
Number of stores	3
New York [Member]
Product Information [Line Items]
Number of stores	29
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	29
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	29
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	11
Texas [Member]
Product Information [Line Items]
Number of stores	80
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	16
West Virginia [Member]
Product Information [Line Items]
Number of stores	4
Wisconsin [Member]
Product Information [Line Items]
Number of stores	14
Wyoming [Member]
Product Information [Line Items]
Number of stores	1

Summary_of_Significant_Account3

Summary of Significant Accounting Policies - Black-Scholes Valuation Model Weighted-Average Assumptions (Detail)	3 Months Ended
	2-May-15	3-May-14
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Volatility rate	38.00%	41.10%
Average risk-free interest rate	1.10%	1.40%
Average expected life (in years)	3 years 7 months 6 days	3 years 9 months 18 days
Dividend yield

Summary_of_Significant_Account4

Summary of Significant Accounting Policies - Additional Information (Detail) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	2-May-15	3-May-14
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expenses	$3,342	$4,063
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted	87	287
Weighted-average fair value of stock option	$44.84	$32.04
Compensation expenses	2,031	2,133
Unrecognized compensation expense	17,440
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted	63	46
Compensation expenses	1,311	1,930
Unrecognized compensation expense	$15,322

Commitments_and_Contingencies_

Commitments and Contingencies - Additional Information (Detail) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	2-May-15	3-May-14
Long-term Purchase Commitment [Line Items]
Total rent expense under operating leases	$44,558	$38,538
Minimum [Member]
Long-term Purchase Commitment [Line Items]
Non-cancelable operating lease terms	3 years
Maximum [Member]
Long-term Purchase Commitment [Line Items]
Non-cancelable operating lease terms	10 years

Notes_Payable_Additional_Infor

Notes Payable - Additional Information (Detail) (USD $)	3 Months Ended
	2-May-15	Jan. 31, 2015	3-May-14
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

Fair_Value_Measurements_Additi

Fair Value Measurements - Additional Information (Detail) (Fair Value, Inputs, Level 2 [Member], USD $)	2-May-15	Jan. 31, 2015	3-May-14
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	$8,269	$5,574	$4,376

Net_Income_Per_Common_Share_Ne

Net Income Per Common Share - Net Income Per Basic and Diluted Share (Detail) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	2-May-15	3-May-14
Earnings Per Share [Abstract]
Numerator for diluted net income per share - net income	$66,946	$49,953
Denominator for basic net income per share - weighted-average common shares	64,180	64,273
Dilutive effect of stock options and non-vested stock	375	334
Denominator for diluted net income per share	64,555	64,607
Net income per common share:
Basic	$1.04	$0.78
Diluted	$1.04	$0.77

Net_Income_Per_Common_Share_Ad

Net Income Per Common Share - Additional Information (Detail)	3 Months Ended
In Thousands, unless otherwise specified	2-May-15	3-May-14
Earnings Per Share [Abstract]
Anti-dilutive stock options excluded from computation of net income per common share	200	665

Share_Repurchase_Program_Addit

Share Repurchase Program - Additional Information (Detail) (USD $)	3 Months Ended
	2-May-15	3-May-14	Sep. 11, 2014	Mar. 12, 2015
Stock Repurchase Program [Line Items]
Repurchase of common stock	$27,956,000
2013 Share Repurchase Program [Member]
Stock Repurchase Program [Line Items]
Shares authorized but unused amount revoked			112,664,000
2014 Share Repurchase Program [Member]
Stock Repurchase Program [Line Items]
Repurchase of common stock authorized increase				100,000,000
Repurchase of common stock, shares	192,000	0
Repurchase of common stock	27,956,000
Repurchase of common stock, average price per share	$145.26
2014 Share Repurchase Program [Member] | Maximum [Member]
Stock Repurchase Program [Line Items]
Repurchase of common stock authorized amount	$300,000,000