Fresh Market 10-Q 1 Dec 15 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Oct. 25, 2015	Nov. 18, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Fresh Market, Inc.
Entity Central Index Key	1,489,979
Current Fiscal Year End Date	--01-31
Entity Filer Category	Large Accelerated Filer
Trading Symbol	tfm
Entity Common Stock, Shares Outstanding		46,991,746
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 25, 2015
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,016

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 25, 2015	Jan. 25, 2015
Current assets:
Cash and cash equivalents	$ 37,328	$ 48,486
Accounts receivable	7,936	12,442
Inventories	68,398	61,237
Prepaid expenses and other current assets	3,870	4,633
Income tax benefit	4,825	622
Deferred income taxes	9,095	6,957
Total current assets	131,452	134,377
Property and equipment, net	411,720	392,194
Deferred income taxes	6,595	1,452
Other assets	7,157	9,429
Total assets	556,924	537,452
Current liabilities:
Accounts payable	48,871	45,592
Accrued liabilities	78,287	74,641
Total current liabilities	127,158	120,233
Capital and financing lease obligations	32,493	33,337
Closed store reserves	9,787	10,187
Deferred income taxes	0	929
Deferred rent	14,662	13,797
Deferred lease incentives	17,085	14,117
Other liabilities	16,518	16,065
Total noncurrent liabilities	$ 90,545	$ 88,432
Commitments and contingencies (Notes 2 and 9)
Stockholders’ equity:
Preferred stock – $0.01 par value; 40,000,000 shares authorized, none issued	$ 0	$ 0
Common stock – $0.01 par value; 200,000,000 shares authorized, 46,922,644 and 48,392,201 shares issued and outstanding as of October 25, 2015 and January 25, 2015, respectively	468	483
Additional paid-in capital	127,950	122,526
Retained earnings	210,803	205,778
Total stockholders’ equity	339,221	328,787
Total liabilities and stockholders’ equity	$ 556,924	$ 537,452

Consolidated Balance Sheets _Pa

Consolidated Balance Sheets [Parenthetical] - $ / shares	Oct. 25, 2015	Jan. 25, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	40,000,000	40,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	46,922,644	48,392,201
Common stock, shares outstanding (in shares)	46,922,644	48,392,201

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 25, 2015	Oct. 26, 2014	Oct. 25, 2015	Oct. 26, 2014
Statement of Comprehensive Income [Abstract]
Sales	$ 433,124	$ 419,450	$ 1,337,260	$ 1,272,679
Cost of goods sold (exclusive of depreciation shown separately)	289,106	281,375	883,687	842,723
Gross profit	144,018	138,075	453,573	429,956
Operating expenses:
Selling, general and administrative expenses	109,568	100,781	318,305	299,048
Impairments and store closure costs	304	(2,728)	14,565	13,881
Depreciation	17,462	15,694	50,384	45,996
Income from operations	16,684	24,328	70,319	71,031
Interest expense	1,020	1,086	2,988	3,307
Income before provision for income taxes	15,664	23,242	67,331	67,724
Tax provision	5,673	8,358	24,702	24,879
Net income and comprehensive income	$ 9,991	$ 14,884	$ 42,629	$ 42,845
Net income per share:
Basic (in dollars per share)	$ 0.21	$ 0.31	$ 0.88	$ 0.89
Diluted (in dollars per share)	$ 0.21	$ 0.31	$ 0.88	$ 0.88
Weighted-average common shares outstanding:
Basic (in shares)	47,994,052	48,291,724	48,320,885	48,280,457
Diluted (in shares)	48,108,663	48,480,657	48,462,303	48,446,013

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Non-Employee Directors	Executives	Common Stock	Common StockNon-Employee Directors	Common StockExecutives	Additional Paid-in Capital	Additional Paid-in CapitalNon-Employee Directors	Additional Paid-in CapitalExecutives	Retained Earnings	Retained EarningsNon-Employee Directors	Retained EarningsExecutives
Balance at Jan. 26, 2014	$ 256,265			$ 483			$ 113,029			$ 142,753
Balance (in shares) at Jan. 26, 2014				48,260,804
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of share-based awards	1,938			$ 0			1,938			0
Exercise of share-based awards (in shares)				88,108
Issuance of common stock pursuant to restricted stock units	0			$ 0			0			0
Issuance of common stock pursuant to restricted stock units (in shares)				22,729
Issuance of common stock pursuant to employee stock purchase plan	170			$ 0			170			0
Issuance of common stock pursuant to employee stock purchase plan (in shares)				5,056
Vesting of restricted stock awards		$ 0	$ 0		$ 0	$ 0		$ 0	$ 0		$ 0	$ 0
Vesting of restricted stock awards (in shares)					11,374	4,130
Withholding tax on restricted stock unit vesting	(468)			$ 0			(468)			0
Share-based compensation	7,533			0			7,533			0
Tax benefit related to exercise of share-based awards	324			0			324			0
Net income	63,025			0			0			63,025
Balance at Jan. 25, 2015	328,787			$ 483			122,526			205,778
Balance (in shares) at Jan. 25, 2015				48,392,201
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of share-based awards	2,582			$ 1			2,581			0
Exercise of share-based awards (in shares)				111,489
Issuance of common stock pursuant to restricted stock units	0			$ 0			0			0
Issuance of common stock pursuant to restricted stock units (in shares)				17,815
Issuance of common stock pursuant to employee stock purchase plan	120			$ 0			120			0
Issuance of common stock pursuant to employee stock purchase plan (in shares)				4,217
Vesting of restricted stock awards	0		$ 0	$ 0		$ 0	0		$ 0	0		$ 0
Vesting of restricted stock awards (in shares)				11,218		1,941
Withholding tax on restricted stock unit vesting	(1,009)			$ 0			(1,009)			0
Share-based compensation	3,652			0			3,652			0
Tax benefit related to exercise of share-based awards	80			$ 0			80			0
Repurchase of common stock (in shares)				(1,616,237)
Repurchase of common stock	(37,620)			$ (16)						(37,604)
Net income	42,629			0			0			42,629
Balance at Oct. 25, 2015	$ 339,221			$ 468			$ 127,950			$ 210,803
Balance (in shares) at Oct. 25, 2015				46,922,644

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Oct. 25, 2015	Oct. 26, 2014
Operating activities
Net income	$ 42,629	$ 42,845
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	50,524	46,147
Loss on disposals of property and equipment	5,588	1,916
Gain on assignment of capital lease	0	1,508
Share-based compensation	3,652	5,513
Excess tax (benefit) shortfall from share-based compensation	(80)	158
Deferred income taxes	(8,210)	(15,300)
Change in assets and liabilities:
Accounts receivable	4,506	2,984
Inventories	(7,161)	(8,876)
Prepaid expenses and other assets	2,899	(41)
Income tax benefit	(4,203)	(4,907)
Accounts payable	3,279	4,305
Closed store reserves	3,417	14,018
Accrued and other liabilities	8,677	10,952
Net cash provided by operating activities	105,517	98,206
Investing activities
Purchases of property and equipment	(80,634)	(64,478)
Proceeds from sale of property and equipment	745	102
Net cash used in investing activities	(79,889)	(64,376)
Financing activities
Borrowings on revolving credit facility	0	137,233
Payments made on revolving credit facility	0	(161,933)
Payments made for debt issuance costs	0	(499)
Payments made on capital and financing lease obligations	(938)	(562)
Proceeds from issuance of common stock pursuant to employee stock purchase plan	120	132
Excess tax benefit (shortfall) from share-based compensation	80	(158)
Payments made on withholding tax for restricted stock vesting	(1,009)	(162)
Proceeds from exercise of share-based compensation awards	2,581	234
Repurchase of common stock	(37,620)	0
Net cash used in financing activities	(36,786)	(25,715)
Net (decrease) increase in cash and cash equivalents	(11,158)	8,115
Cash and cash equivalents at beginning of period	48,486	11,745
Cash and cash equivalents at end of period	37,328	19,860
Supplemental disclosures of cash flow information:
Cash paid during the period for interest	2,821	3,172
Cash paid during the period for taxes	37,268	45,522
Non-cash investing and financing activities:
Property and equipment acquired through capital and financing lease obligations	$ 51	$ 5,884

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Oct. 25, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited consolidated financial statements of The Fresh Market, Inc. (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial statements and are in the form prescribed by the Securities and Exchange Commission in instructions to the Quarterly Report on Form 10-Q and Rule 10-01 of Regulation S-X. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the accompanying notes thereto in the Company’s Annual Report on Form 10-K for the fiscal year ended January 25, 2015 . In the opinion of management, these unaudited consolidated 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 and cash flows for the periods indicated. Interim results are not necessarily indicative of results that may be expected for a full fiscal year or future interim periods. In certain instances, there are changes in the presentation of the consolidated financial statements to conform to the current year presentation. The Company’s wholly-owned subsidiaries are consolidated and all intercompany accounts and transactions are eliminated upon consolidation. The Company reports its results of operations on a 52- or 53-week fiscal year ending on the last Sunday in January. Each fiscal quarter consists of 13 weeks, with an additional week included in the fourth quarter for a 53-week fiscal year. The current fiscal year ending January 31, 2016 is a 53-week fiscal year and the fiscal year ended January 25, 2015 was a 52-week fiscal year. The Company has determined that it has one reportable segment. The Company’s revenues come from the sale of items at its specialty food stores. The Company’s primary focus is on perishable categories, which include meat, seafood, produce, deli, bakery, floral, sushi and prepared foods. Non-perishable categories consist of traditional grocery, frozen and dairy products as well as bulk, coffee, candy, and beer and wine. The following is a summary of the percentage for the sales of perishable and non-perishable items: For the Thirteen Weeks Ended For the Thirty-Nine Weeks Ended October 25, October 26, October 25, October 26, Perishable 65.8% 65.5% 66.3% 65.9% Non-perishable 34.2% 34.5% 33.7% 34.1% Recent Accounting Pronouncements In July 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-11 (Topic 330), Inventory: Simplifying the Measurement of Inventory. The amendments require an entity to measure in scope inventory at the lower of cost and net realizable value. The amendments do not apply to inventory that is measured using the last-in, first-out (LIFO) or the retail inventory method. ASU No. 2015-11 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption is permitted. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements and related disclosures. In April 2015, the FASB issued ASU No. 2015-05 (Subtopic 350-40), Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement , which provides guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, then the customer should account for the arrangement as a service contract. ASU No. 2015-05 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements and related disclosures. 1. Summary of Significant Accounting Policies (continued) In April 2015, the FASB issued ASU No. 2015-03 (Subtopic 835-30), Simplifying the Presentation of Debt Issuance Costs , which 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. ASU No. 2015-03 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements and related disclosures. In May 2014, the FASB issued ASU No. 2014-09 (Topic 606), Revenue from Contracts with Customers , which amended the existing accounting standards for revenue recognition. ASU No. 2014-09 establishes principles for recognizing revenue upon the transfer of promised goods or services to customers, in an amount that reflects the consideration expected to be received in exchange for those goods or services. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers Deferral of the Effective Date , which deferred the effective date of the new revenue recognition standard by one year; as a result, public entities would apply the new revenue standard to annual reporting periods, and interim periods within those annual reporting periods, beginning after December 31, 2017. Early adoption is permitted for all entities only as of annual reporting periods, and interim periods within those annual reporting periods, beginning after December 15, 2016. The guidance allows for the amendment to be applied either retrospectively to each prior reporting period presented or retrospectively as a cumulative-effect adjustment as of the date of adoption. The Company is currently in the process of evaluating the effect this guidance will have on its consolidated financial statements and related disclosures.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Oct. 25, 2015
Debt Disclosure [Abstract]
Long-term Debt	Long-Term Debt The Company had no outstanding borrowings as of October 25, 2015 or January 25, 2015 . On June 12, 2014, the Company entered into an unsecured revolving credit agreement with Bank of America, N.A., as Administrative Agent, Swing Line Lender and Letter of Credit Issuer, and the several lenders party thereto (the “Credit Agreement”), which refinanced and replaced the Company’s prior senior unsecured revolving credit facility. The Credit Agreement matures June 12, 2019 and is available to provide support for working capital, capital expenditures and other general corporate purposes, including permitted acquisitions and issuance of letters of credit. While the Company currently has no material domestic subsidiaries, other entities will guarantee its obligations under the Credit Agreement if and when they become material domestic subsidiaries of the Company during the term of the Credit Agreement. The Credit Agreement provides for total borrowings of up to $175,000 . Under the terms of the Credit Agreement, the Company is entitled to request an increase in the size of the facility by an amount not exceeding $100,000 in the aggregate. If the existing lenders elect not to provide the full amount of a requested increase, or in lieu of accepting offers from existing lenders to increase their commitments, the Company may designate one or more other lenders to become a party to the Credit Agreement, subject to the approval of the Administrative Agent. The Credit Agreement includes a letter of credit sublimit of $60,000 , of which $25,393 was outstanding at October 25, 2015 and $25,434 was outstanding at January 25, 2015 . The beneficiaries of these letters of credit are the Company’s workers’ compensation and general liability insurance carriers. The Credit Agreement also includes a swing line sublimit of $15,000 . At the Company’s option, revolving loans under the Credit Agreement bear interest at (i) the London Interbank Offered Rate (“LIBOR”) plus an applicable margin that ranges from 0.90% to 2.00%, (ii) the Eurodollar rate plus an applicable margin that ranges from 0.90% to 2.00%, or (iii) the base rate plus an applicable margin that ranges from 0% to 1.00%, where the base rate is defined as the greatest of: (a) the federal funds rate plus 0.50%, (b) Bank of America’s prime rate, and (c) the Eurodollar rate plus 1.00% . The commitment fee calculated on the unused portions of the Credit Agreement ranges from 0.125% to 0.250% per annum. The Credit Agreement contains a number of affirmative and restrictive covenants, including limitations on the Company’s ability to grant liens, incur additional debt, pay dividends, redeem its common stock, make certain investments and engage in certain merger, consolidation or asset sale transactions.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Oct. 25, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements FASB Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurement, requires fair value measurements to be classified and disclosed in one of the following pricing categories: • Level 1 - Quoted prices in active markets for identical assets or liabilities as of the reporting date. • Level 2 - Observable inputs other than quoted prices in active markets for identical assets or liabilities. • Level 3 - Unobservable inputs in which there is little or no market data available, which require the reporting entity to develop its own assumptions. The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities and other accrued expenses approximate fair value because of their short maturity. Nonrecurring Fair Value Measurements The Company recorded $5,122 of lease obligation costs as a nonrecurring fair value measurement in connection with its store closures during the thirty-nine weeks ended October 25, 2015 . These lease obligation costs are included in the “Accrued liabilities” and “Closed store reserves” line items on the accompanying Consolidated Balance Sheets. The lease obligations were estimated based on the present value of the minimum lease payments less an estimate of sublease income, which is a Level 2 fair value measurement. The Company wrote-down the carrying value of certain fixed assets to its estimated proceeds, which is a Level 2 fair value measurement, in connection with the store closure and exit activities during the thirty-nine weeks ended October 25, 2015 . The write-down of $5,595 is included in the “Impairments and store closure costs” line item on the accompanying Consolidated Statements of Comprehensive Income. The Company recorded these nonrecurring fair value measurements in the first quarter of fiscal 2015, and it did not record any other nonrecurring fair value measurements during the thirty-nine weeks ended October 25, 2015 .

Impairments and Store Closure C

Impairments and Store Closure Costs	9 Months Ended
	Oct. 25, 2015
Restructuring and Related Activities [Abstract]
Impairments and Store Closure Costs	Impairments and Store Closure Costs Store Closure Costs During the first quarter of fiscal year 2015, the Company exited the California market and recorded charges primarily consisting of certain lease obligations, write-down and loss on disposal of fixed assets, and severance costs associated with its California locations. The Company expects to incur approximately $15,000 in store closure and exit costs in fiscal year 2015 related to exiting these locations. Changes in market and economic conditions could cause the Company to change its assumptions and may require adjustments to the reserves. The Company closed four stores in the first quarter of fiscal year 2014 and recorded charges primarily consisting of certain lease obligations, write-down and (gain) loss on disposal of fixed assets and severance costs associated with those stores. Impairments and store closure costs for the thirteen and thirty-nine weeks ended October 25, 2015 and October 26, 2014 were as follows: For the Thirteen Weeks Ended For the Thirty-Nine Weeks Ended October 25, October 26, October 25, October 26, Lease obligation and related costs $ 106 $ (1,541 ) $ 7,654 $ 11,800 Gain on assignment of capital lease — (1,508 ) — (1,508 ) Write-down and (gain) loss on disposal of fixed assets (25 ) 98 5,570 1,852 Employee and severance costs — 1 788 768 Other charges 223 222 553 969 $ 304 $ (2,728 ) $ 14,565 $ 13,881 During the thirteen weeks ended October 25, 2015 , the Company incurred $304 of expenses associated with closed stores that primarily related to ongoing expenses for closed locations. 4. Impairments and Store Closure Costs (continued) During the thirteen weeks ended October 26, 2014 , the Company recognized a net benefit of $2,728 for impairments and store closure costs of which $2,904 primarily related to a gain on the assignment of a capital lease and changes in estimates related to its lease commitments for previously closed stores. During the thirty-nine weeks ended October 25, 2015 , the Company incurred $15,121 of expenses associated with closed stores, with $14,565 recorded to the “Impairments and store closure costs” line item and $556 for the liquidation of inventory and other costs associated with the store closure activities recorded to other line items on the accompanying Consolidated Statements of Comprehensive Income. The $14,565 recorded to the “Impairments and store closure costs” line item consisted of: (i) $13,992 in connection with closure and exit activities for closed locations; and (ii) ongoing expenses for closed locations. During the thirty-nine weeks ended October 26, 2014 , the Company incurred $14,299 of expenses associated with closed stores, with $13,881 recorded to the “Impairments and store closure costs” line item and $418 for the liquidation of inventory and other costs associated with the store closure activities recorded to other line items on the accompanying Consolidated Statements of Comprehensive Income. The $13,881 recorded to the “Impairments and store closure costs” line item consisted of: (i) $13,467 in connection with closure and exit activities for closed locations; and (ii) ongoing expenses for closed locations. Closed Store Reserves Activity for the closed store reserves for the thirty-nine weeks ended October 25, 2015 and for the fifty-two weeks ended January 25, 2015 was as follows: For the Thirty-Nine Weeks Ended For the Fifty-Two Weeks Ended October 25, January 25, Beginning balance $ 11,299 $ 1,812 Additions and adjustments 5,209 14,498 Payments (1,792 ) (5,011 ) Ending balance $ 14,716 $ 11,299 Closed store reserves include amounts for occupancy costs related to closed stores, which represent the present value of the remaining non-cancelable lease payments required under operating leases for the closed stores, less an estimate of subtenant income. During the thirty-nine weeks ended October 25, 2015 and the fifty-two weeks ended January 25, 2015 , the Company recorded net reserves for occupancy costs. Closed store reserves of $4,929 and $1,112 are included in the “Accrued liabilities” line item and $9,787 and $10,187 are included in the “Closed store reserves” line item on the accompanying Consolidated Balance Sheets at October 25, 2015 and January 25, 2015 , respectively.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Oct. 25, 2015
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Stock Repurchase Program In August 2015, the Company’s Board of Directors authorized a $200,000 stock repurchase program. The primary source of funds for stock repurchases are cash flows from operations net of investing activities. Repurchases under the program are made through open market transactions at prevailing market prices, with block trades permitted from time to time and in the discretion of the Company’s management and as the market conditions allow. The timing of the repurchases and the actual amount repurchased depends on a variety of factors, including the amount of cash flow available for repurchases, the market price of the Company’s shares and general market and economic conditions. During the thirteen and thirty-nine weeks ended October 25, 2015 , the Company acquired 1,616,237 shares of its outstanding common stock for $37,620 , including applicable commissions, under the stock repurchase program. The Company recognizes the cost of stock repurchases in excess of par value as a reduction to retained earnings.

Share-based Compensation

Share-based Compensation	9 Months Ended
	Oct. 25, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation	Share-based Compensation The Company grants share-based awards under The Fresh Market, Inc. 2010 Omnibus Incentive Compensation Plan. As of October 25, 2015 , approximately 1,200,000 shares of the Company’s common stock were available for share-based awards. Share-based compensation expense is recorded in the “Selling, general and administrative expenses” line item on the accompanying Consolidated Statements of Comprehensive Income. Total share-based compensation for the thirteen and thirty-nine weeks ended October 25, 2015 and October 26, 2014 was comprised of the following: For the Thirteen Weeks Ended For the Thirty-Nine Weeks Ended October 25, October 26, October 25, October 26, Stock options $ 498 $ 872 $ 1,722 $ 2,679 Restricted stock units, employees 467 385 1,533 1,234 Restricted stock units, non-employee directors 214 — 319 — Executive restricted stock awards (135 ) 318 279 952 Restricted stock awards, non-employee directors — 105 138 315 Performance share units — 130 (339 ) 305 Other share-based awards — — — 28 $ 1,044 $ 1,810 $ 3,652 $ 5,513 During the thirteen weeks ended October 25, 2015 , the Company recognized a net benefit of $135 due to the forfeiture of executive restricted stock awards in connection with certain leadership changes. During the thirty-nine weeks ended October 25, 2015 , the Company recognized a net benefit of $339 in connection with performance share units. In July 2015, the Company determined that the minimum level of achievement to meet the performance goal was not probable, and, as a result, the total cumulative expense recognized for the performance share units was reversed, resulting in a net benefit of $430 . The following table summarizes option activity under The Fresh Market, Inc. 2010 Omnibus Incentive Compensation Plan (in thousands) for the thirty-nine weeks ended October 25, 2015 : Balance at January 25, 2015 888 Granted 682 Exercised (111 ) Expired (3 ) Forfeited (63 ) Balance at October 25, 2015 1,393 Total remaining unearned compensation costs $ 6,166 Weighted-average remaining service period 2.7 years 6. Share-based Compensation (continued) The following table summarizes the activity for the thirty-nine weeks ended October 25, 2015 for the Company’s existing restricted stock unit programs and restricted stock award programs (in thousands): Restricted Stock Units, Employees Restricted Stock Units, Non-Employee Directors Executive Restricted Stock Awards Restricted Stock Awards, Non-Employee Directors Balance at January 25, 2015 97 — 56 11 Granted 144 25 — — Vested (28 ) — (3 ) (11 ) Forfeited (19 ) — (10 ) — Balance at October 25, 2015 194 25 43 — Total remaining unearned compensation costs $ 4,729 $ 487 $ 425 $ — Weighted-average remaining service period 2.8 years 0.6 years 0.9 years 0.0 years

Earnings per Share

Earnings per Share	9 Months Ended
	Oct. 25, 2015
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share The computation of basic earnings per share is based on the number of weighted-average common shares outstanding during the period. The computation of diluted earnings per share includes the dilutive effect of common stock equivalents consisting of incremental common shares deemed outstanding from the assumed exercise of stock options and vesting of restricted stock units and restricted stock awards. The Company excluded the dilutive effect of its performance share awards and performance share units since the related performance conditions had not been satisfied for the thirteen and thirty-nine weeks ended October 25, 2015 and October 26, 2014 . A reconciliation of the numerators and denominators of the basic and diluted earnings per share calculations follows (in thousands, except share and per share amounts): For the Thirteen Weeks Ended For the Thirty-Nine Weeks Ended October 25, October 26, October 25, October 26, Net income available to common stockholders (numerator for basic and diluted earnings per share) $ 9,991 $ 14,884 $ 42,629 $ 42,845 Weighted-average common shares outstanding (denominator for basic earnings per share) 47,994,052 48,291,724 48,320,885 48,280,457 Potential common shares outstanding: Incremental shares from share-based awards 114,611 188,933 141,418 165,556 Weighted-average common shares outstanding and potential additional common shares outstanding (denominator for diluted earnings per share) 48,108,663 48,480,657 48,462,303 48,446,013 Basic earnings per share $ 0.21 $ 0.31 $ 0.88 $ 0.89 Diluted earnings per share $ 0.21 $ 0.31 $ 0.88 $ 0.88 7. Earnings per Share (continued) For the thirteen weeks ended October 25, 2015 and October 26, 2014 , there were approximately 1,081,000 and 654,000 shares, respectively, excluded from the computation of diluted weighted-average common shares outstanding because such shares were antidilutive. For the thirty-nine weeks ended October 25, 2015 and October 26, 2014 , there were approximately 826,000 and 607,000 shares, respectively, excluded from the computation of diluted weighted-average common shares outstanding because such shares were antidilutive.

Supplementary Balance Sheet Inf

Supplementary Balance Sheet Information	9 Months Ended
	Oct. 25, 2015
Supplementary Balance Sheet Info [Abstract]
Supplementary Balance Sheet Information	Supplementary Balance Sheet Information The following table reflects supplementary balance sheet information for the Company’s property and equipment, net at October 25, 2015 and January 25, 2015 : October 25, 2015 January 25, 2015 Buildings $ 65,725 $ 65,658 Store fixtures and equipment 402,662 364,711 Leasehold improvements 272,569 242,966 Office furniture, fixtures and equipment 15,710 13,692 Automobiles 1,128 1,315 Construction in progress 20,696 31,341 Total property and equipment 778,490 719,683 Accumulated depreciation (366,770 ) (327,489 ) Total property and equipment, net $ 411,720 $ 392,194 The following table reflects supplementary balance sheet information for the Company’s accrued liabilities at October 25, 2015 and January 25, 2015 : October 25, 2015 January 25, 2015 Accrued compensation and benefits $ 33,884 $ 31,698 Accrued occupancy cost 9,390 8,569 Other accrued taxes 5,046 4,619 Accrued construction and maintenance costs 6,613 11,030 Closed store reserves 4,929 1,112 Other accrued liabilities 18,425 17,613 Total accrued liabilities $ 78,287 $ 74,641

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Oct. 25, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation From time to time, the Company is involved in various legal proceedings in the ordinary course of business, including, but not limited to, claims, disputes, litigation, and investigations relating to labor and employment, contracts, product liability, leasing and construction, and other commercial and regulatory matters. In the opinion of management, the resolution of currently pending matters, other than those described or referred to below, will not have a material adverse effect on the Company’s financial condition or results of operations. However, because of the nature and inherent uncertainties of litigation, the Company cannot predict with certainty the ultimate resolution of these actions and, should the outcome of these actions be 9. Commitments and Contingencies (continued) unfavorable, the Company’s business, financial position, results of operations or cash flows could be materially and adversely affected. The Company reviews the status of its legal proceedings and records a provision for a liability when it is considered probable that both a liability has been incurred and the amount of the loss can be reasonably estimated. This review is updated periodically as additional information becomes available. If either or both of the criteria are not met, the Company reassesses whether there is at least a reasonable possibility that a loss, or additional losses, may be incurred. If there is a reasonable possibility that a loss may be incurred, the Company discloses the estimate of the amount of the loss or range of losses, that the amount is not material, or that an estimate of loss cannot be made. The Company expenses its legal fees as incurred. In assessing potential loss contingencies, the Company considers a number of factors, including those listed in FASB ASC No. 450-20, Contingencies - Loss Contingencies , regarding assessing the probability of a loss and assessing whether a loss is reasonably estimable. Litigation can be expensive and disruptive to normal business operations. Moreover, the results of litigation are difficult to predict and the Company’s view of these matters may change as the litigation and events unfold over time. An unfavorable outcome in any legal matter, if material, could have a material adverse effect on the Company’s results of operations in the period in which the unfavorable outcome occurs and potentially in future periods. The Company is party to a lawsuit that was filed on July 17, 2013 against it in U.S. District Court in Connecticut alleging that the manner in which the Company implemented and applied the fluctuating workweek method for calculating overtime due to the Company’s department managers violated the federal Fair Labor Standards Act. The complaint purports to state a collective action on behalf of a class of department managers in stores in states in which the Company used the fluctuating workweek method of compensation. The Company believes that the plaintiff’s claims are without merit and intends to vigorously defend itself in this proceeding. The Company cannot at this time predict the outcome of this litigation or estimate the range of its potential exposure. The Company has not recorded any reserves or contingencies related to this legal matter.

Summary of Significant Accoun16

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Oct. 25, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements of The Fresh Market, Inc. (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial statements and are in the form prescribed by the Securities and Exchange Commission in instructions to the Quarterly Report on Form 10-Q and Rule 10-01 of Regulation S-X. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the accompanying notes thereto in the Company’s Annual Report on Form 10-K for the fiscal year ended January 25, 2015 . In the opinion of management, these unaudited consolidated 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 and cash flows for the periods indicated. Interim results are not necessarily indicative of results that may be expected for a full fiscal year or future interim periods. In certain instances, there are changes in the presentation of the consolidated financial statements to conform to the current year presentation. The Company’s wholly-owned subsidiaries are consolidated and all intercompany accounts and transactions are eliminated upon consolidation.
Fiscal Year	The Company reports its results of operations on a 52- or 53-week fiscal year ending on the last Sunday in January. Each fiscal quarter consists of 13 weeks, with an additional week included in the fourth quarter for a 53-week fiscal year. The current fiscal year ending January 31, 2016 is a 53-week fiscal year and the fiscal year ended January 25, 2015 was a 52-week fiscal year.
Reporting Segments	The Company has determined that it has one reportable segment. The Company’s revenues come from the sale of items at its specialty food stores. The Company’s primary focus is on perishable categories, which include meat, seafood, produce, deli, bakery, floral, sushi and prepared foods. Non-perishable categories consist of traditional grocery, frozen and dairy products as well as bulk, coffee, candy, and beer and wine.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In July 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-11 (Topic 330), Inventory: Simplifying the Measurement of Inventory. The amendments require an entity to measure in scope inventory at the lower of cost and net realizable value. The amendments do not apply to inventory that is measured using the last-in, first-out (LIFO) or the retail inventory method. ASU No. 2015-11 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption is permitted. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements and related disclosures. In April 2015, the FASB issued ASU No. 2015-05 (Subtopic 350-40), Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement , which provides guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, then the customer should account for the arrangement as a service contract. ASU No. 2015-05 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements and related disclosures. 1. Summary of Significant Accounting Policies (continued) In April 2015, the FASB issued ASU No. 2015-03 (Subtopic 835-30), Simplifying the Presentation of Debt Issuance Costs , which 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. ASU No. 2015-03 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements and related disclosures. In May 2014, the FASB issued ASU No. 2014-09 (Topic 606), Revenue from Contracts with Customers , which amended the existing accounting standards for revenue recognition. ASU No. 2014-09 establishes principles for recognizing revenue upon the transfer of promised goods or services to customers, in an amount that reflects the consideration expected to be received in exchange for those goods or services. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers Deferral of the Effective Date , which deferred the effective date of the new revenue recognition standard by one year; as a result, public entities would apply the new revenue standard to annual reporting periods, and interim periods within those annual reporting periods, beginning after December 31, 2017. Early adoption is permitted for all entities only as of annual reporting periods, and interim periods within those annual reporting periods, beginning after December 15, 2016. The guidance allows for the amendment to be applied either retrospectively to each prior reporting period presented or retrospectively as a cumulative-effect adjustment as of the date of adoption. The Company is currently in the process of evaluating the effect this guidance will have on its consolidated financial statements and related disclosures.

Summary of Significant Accoun17

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Oct. 25, 2015
Accounting Policies [Abstract]
Schedule of Segment Reporting Information, by Segment	The following is a summary of the percentage for the sales of perishable and non-perishable items: For the Thirteen Weeks Ended For the Thirty-Nine Weeks Ended October 25, October 26, October 25, October 26, Perishable 65.8% 65.5% 66.3% 65.9% Non-perishable 34.2% 34.5% 33.7% 34.1%

Impairments and Store Closure18

Impairments and Store Closure Costs (Tables)	9 Months Ended
	Oct. 25, 2015
Restructuring and Related Activities [Abstract]
Schedule of impairments and store closure costs	Impairments and store closure costs for the thirteen and thirty-nine weeks ended October 25, 2015 and October 26, 2014 were as follows: For the Thirteen Weeks Ended For the Thirty-Nine Weeks Ended October 25, October 26, October 25, October 26, Lease obligation and related costs $ 106 $ (1,541 ) $ 7,654 $ 11,800 Gain on assignment of capital lease — (1,508 ) — (1,508 ) Write-down and (gain) loss on disposal of fixed assets (25 ) 98 5,570 1,852 Employee and severance costs — 1 788 768 Other charges 223 222 553 969 $ 304 $ (2,728 ) $ 14,565 $ 13,881
Schedule of activity of closed store reserves	Activity for the closed store reserves for the thirty-nine weeks ended October 25, 2015 and for the fifty-two weeks ended January 25, 2015 was as follows: For the Thirty-Nine Weeks Ended For the Fifty-Two Weeks Ended October 25, January 25, Beginning balance $ 11,299 $ 1,812 Additions and adjustments 5,209 14,498 Payments (1,792 ) (5,011 ) Ending balance $ 14,716 $ 11,299

Share-based Compensation (Table

Share-based Compensation (Tables)	9 Months Ended
	Oct. 25, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan	Total share-based compensation for the thirteen and thirty-nine weeks ended October 25, 2015 and October 26, 2014 was comprised of the following: For the Thirteen Weeks Ended For the Thirty-Nine Weeks Ended October 25, October 26, October 25, October 26, Stock options $ 498 $ 872 $ 1,722 $ 2,679 Restricted stock units, employees 467 385 1,533 1,234 Restricted stock units, non-employee directors 214 — 319 — Executive restricted stock awards (135 ) 318 279 952 Restricted stock awards, non-employee directors — 105 138 315 Performance share units — 130 (339 ) 305 Other share-based awards — — — 28 $ 1,044 $ 1,810 $ 3,652 $ 5,513
Schedule of Share-based Compensation, Stock Options, Activity	The following table summarizes option activity under The Fresh Market, Inc. 2010 Omnibus Incentive Compensation Plan (in thousands) for the thirty-nine weeks ended October 25, 2015 : Balance at January 25, 2015 888 Granted 682 Exercised (111 ) Expired (3 ) Forfeited (63 ) Balance at October 25, 2015 1,393 Total remaining unearned compensation costs $ 6,166 Weighted-average remaining service period 2.7 years
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	The following table summarizes the activity for the thirty-nine weeks ended October 25, 2015 for the Company’s existing restricted stock unit programs and restricted stock award programs (in thousands): Restricted Stock Units, Employees Restricted Stock Units, Non-Employee Directors Executive Restricted Stock Awards Restricted Stock Awards, Non-Employee Directors Balance at January 25, 2015 97 — 56 11 Granted 144 25 — — Vested (28 ) — (3 ) (11 ) Forfeited (19 ) — (10 ) — Balance at October 25, 2015 194 25 43 — Total remaining unearned compensation costs $ 4,729 $ 487 $ 425 $ — Weighted-average remaining service period 2.8 years 0.6 years 0.9 years 0.0 years

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Oct. 25, 2015
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Shares	A reconciliation of the numerators and denominators of the basic and diluted earnings per share calculations follows (in thousands, except share and per share amounts): For the Thirteen Weeks Ended For the Thirty-Nine Weeks Ended October 25, October 26, October 25, October 26, Net income available to common stockholders (numerator for basic and diluted earnings per share) $ 9,991 $ 14,884 $ 42,629 $ 42,845 Weighted-average common shares outstanding (denominator for basic earnings per share) 47,994,052 48,291,724 48,320,885 48,280,457 Potential common shares outstanding: Incremental shares from share-based awards 114,611 188,933 141,418 165,556 Weighted-average common shares outstanding and potential additional common shares outstanding (denominator for diluted earnings per share) 48,108,663 48,480,657 48,462,303 48,446,013 Basic earnings per share $ 0.21 $ 0.31 $ 0.88 $ 0.89 Diluted earnings per share $ 0.21 $ 0.31 $ 0.88 $ 0.88

Supplementary Balance Sheet I21

Supplementary Balance Sheet Information (Tables)	9 Months Ended
	Oct. 25, 2015
Supplementary Balance Sheet Info [Abstract]
Property, Plant and Equipment	The following table reflects supplementary balance sheet information for the Company’s property and equipment, net at October 25, 2015 and January 25, 2015 : October 25, 2015 January 25, 2015 Buildings $ 65,725 $ 65,658 Store fixtures and equipment 402,662 364,711 Leasehold improvements 272,569 242,966 Office furniture, fixtures and equipment 15,710 13,692 Automobiles 1,128 1,315 Construction in progress 20,696 31,341 Total property and equipment 778,490 719,683 Accumulated depreciation (366,770 ) (327,489 ) Total property and equipment, net $ 411,720 $ 392,194
Schedule of Accrued Liabilities	The following table reflects supplementary balance sheet information for the Company’s accrued liabilities at October 25, 2015 and January 25, 2015 : October 25, 2015 January 25, 2015 Accrued compensation and benefits $ 33,884 $ 31,698 Accrued occupancy cost 9,390 8,569 Other accrued taxes 5,046 4,619 Accrued construction and maintenance costs 6,613 11,030 Closed store reserves 4,929 1,112 Other accrued liabilities 18,425 17,613 Total accrued liabilities $ 78,287 $ 74,641

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Details) - segment	3 Months Ended		9 Months Ended
	Oct. 25, 2015	Oct. 26, 2014	Oct. 25, 2015	Oct. 26, 2014
Accounting Policies [Abstract]
Number of reportable segments	1
Perishable
Segment Reporting Information [Line Items]
Percentage of sales	65.80%	65.50%	66.30%	65.90%
Non-perishable
Segment Reporting Information [Line Items]
Percentage of sales	34.20%	34.50%	33.70%	34.10%

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($)	9 Months Ended
	Oct. 25, 2015	Oct. 26, 2014	Jan. 25, 2015
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 175,000,000		$ 175,000,000
Additional borrowing capacity	100,000,000
Letter of credit, amount outstanding	$ 15,000,000
Credit facility, interest rate description	(i) the London Interbank Offered Rate (“LIBOR”) plus an applicable margin that ranges from 0.90% to 2.00%, (ii) the Eurodollar rate plus an applicable margin that ranges from 0.90% to 2.00%, or (iii) the base rate plus an applicable margin that ranges from 0% to 1.00%, where the base rate is defined as the greatest of: (a) the federal funds rate plus 0.50%, (b) Bank of America’s prime rate, and (c) the Eurodollar rate plus 1.00%
Minimum
Debt Instrument [Line Items]
Credit facility, commitment fee percentage		0.125%
Maximum
Debt Instrument [Line Items]
Credit facility, commitment fee percentage	0.25%
London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.90%
London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%
Eurodollar
Debt Instrument [Line Items]
Basis spread on base rate	1.00%
Eurodollar | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.90%
Eurodollar | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%
Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.00%
Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on base rate	0.50%
Standby Letters of Credit
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 60,000,000
Letter of credit, amount outstanding	$ 25,393,000		$ 25,434,000

Fair Value Measurements Lease o

Fair Value Measurements Lease obligation costs (Details) $ in Thousands	9 Months Ended
	Oct. 25, 2015USD ($)
Income Statement [Abstract]
Lease obligation costs	$ 5,122
Write-down of carrying value of certain fixed assets	$ 5,595

Impairments and Store Closure25

Impairments and Store Closure Costs - Narrative (Details) $ in Thousands	3 Months Ended			9 Months Ended
	Oct. 25, 2015USD ($)	Oct. 26, 2014USD ($)	Apr. 27, 2014stores	Oct. 25, 2015USD ($)	Oct. 26, 2014USD ($)	Jan. 25, 2015USD ($)	Jan. 26, 2014USD ($)
Restructuring Cost and Reserve [Line Items]
Expected asset impairment charges				$ 15,000
Number of stores closed | stores			4
Impairments and store closure costs	$ (304)	$ 2,728		(14,565)	$ (13,881)
Gain on assignment of capital lease and changes in estimates related to lease commitments		$ 2,904
Store closure costs				15,121	14,299
Inventory write-down				556	418
Closed Store Charges				13,992	$ 13,467
Restructuring Reserve	14,716			14,716		$ 11,299	$ 1,812
Accrued Liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	4,929			4,929		1,112
Closed Stores Reserves
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 9,787			$ 9,787		$ 10,187

Impairments and Store Closure26

Impairments and Store Closure Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Oct. 25, 2015	Oct. 26, 2014	Oct. 25, 2015	Oct. 26, 2014	Jan. 25, 2015
Restructuring and Related Activities [Abstract]
Lease obligation and related costs	$ 106	$ (1,541)	$ 7,654	$ 11,800
Gain on assignment of capital lease	0	(1,508)	0	(1,508)
Write-down and loss on disposal of fixed assets	(25)	98	5,570	1,852
Employee and severance costs	0	1	788	768
Other charges	223	222	553	969
Impairments and store closure costs	304	$ (2,728)	14,565	13,881
Closed Store Reserves [Roll Forward]
Beginning balance			11,299	$ 1,812	$ 1,812
Additions and adjustments			5,209		14,498
Payments			(1,792)		(5,011)
Ending balance	$ 14,716		$ 14,716		$ 11,299

Stockholders' Equity (Details)

Stockholders' Equity (Details) - Share Repurchase Program, August 2015 - USD ($)	3 Months Ended	9 Months Ended
	Oct. 25, 2015	Oct. 25, 2015	Aug. 31, 2015
Equity, Class of Treasury Stock [Line Items]
Stock repurchase, amount authorized			$ 200,000,000
Common Stock
Equity, Class of Treasury Stock [Line Items]
Repurchased shares during period (in shares)	1,616,237	1,616,237
Repurchased shares during period	$ 37,620,000	$ 37,620,000

Share-based Compensation - Narr

Share-based Compensation - Narrative (Details) - USD ($) $ in Thousands, shares in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Jul. 31, 2015	Oct. 25, 2015	Oct. 26, 2014	Oct. 25, 2015	Oct. 26, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation		$ 1,044	$ 1,810	$ 3,652	$ 5,513
Performance share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation	$ (430)	0	130	(339)	305
Employee | Restricted stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation		$ (135)	$ 318	$ 279	$ 952
Omnibus Incentive Compensation Plan 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares)		1.2		1.2

Share-based Compensation - Expe

Share-based Compensation - Expense by Award (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Jul. 31, 2015	Oct. 25, 2015	Oct. 26, 2014	Oct. 25, 2015	Oct. 26, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation		$ 1,044	$ 1,810	$ 3,652	$ 5,513
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation		498	872	1,722	2,679
Restricted stock units | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation		467	385	1,533	1,234
Restricted stock units | Non-employee directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation		214	0	319	0
Restricted stock awards | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation		(135)	318	279	952
Restricted stock awards | Non-employee directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation		0	105	138	315
Performance share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation	$ (430)	0	130	(339)	305
Other share-based awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation		$ 0	$ 0	$ 0	$ 28

Share-based Compensation - Stoc

Share-based Compensation - Stock Option Activity (Details) - Omnibus Incentive Compensation Plan 2010 shares in Thousands, $ in Thousands	9 Months Ended
	Oct. 25, 2015USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Balance at January 25, 2015	888
Granted	682
Exercised	(111)
Expired	(3)
Forfeited	(63)
Balance at October 25, 2015	1,393
Total remaining unearned compensation costs | $	$ 6,166
Weighted-average remaining service period	2 years 8 months 12 days

Share-based Compensation - Rest

Share-based Compensation - Restricted Award Activity (Details) shares in Thousands, $ in Thousands	9 Months Ended
	Oct. 25, 2015USD ($)shares
Restricted stock units | Employee
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Balance at January 25, 2015	97
Granted	144
Vested	(28)
Forfeited	(19)
Balance at October 25, 2015	194
Total remaining unearned compensation costs | $	$ 4,729
Weighted-average remaining service period	2 years 9 months 18 days
Restricted stock units | Non-employee directors
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Balance at January 25, 2015	0
Granted	25
Vested	0
Forfeited	0
Balance at October 25, 2015	25
Total remaining unearned compensation costs | $	$ 487
Weighted-average remaining service period	7 months 6 days
Executive restricted stock awards
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Balance at January 25, 2015	56
Granted	0
Vested	(3)
Forfeited	(10)
Balance at October 25, 2015	43
Total remaining unearned compensation costs | $	$ 425
Weighted-average remaining service period	10 months 24 days
Restricted stock awards | Non-employee directors
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Balance at January 25, 2015	11
Granted	0
Vested	(11)
Forfeited	0
Balance at October 25, 2015	0
Total remaining unearned compensation costs | $	$ 0
Weighted-average remaining service period	0 years

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Oct. 25, 2015	Oct. 26, 2014	Oct. 25, 2015	Oct. 26, 2014	Jan. 25, 2015
Earnings Per Share [Abstract]
Net income available to common stockholders (numerator for basic and diluted earnings per share)	$ 9,991	$ 14,884	$ 42,629	$ 42,845	$ 63,025
Weighted-average common shares outstanding (denominator for basic earnings per share) (in shares)	47,994,052	48,291,724	48,320,885	48,280,457
Potential common shares outstanding:
Incremental shares from share-based awards (in shares)	114,611	188,933	141,418	165,556
Weighted-average common shares outstanding and potential additional common shares outstanding (denominator for diluted earnings per share) (in shares)	48,108,663	48,480,657	48,462,303	48,446,013
Basic earnings per share (in dollars per share)	$ 0.21	$ 0.31	$ 0.88	$ 0.89
Diluted earnings per share (in dollars per share)	$ 0.21	$ 0.31	$ 0.88	$ 0.88

Earnings per Share - Narrative

Earnings per Share - Narrative (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Oct. 25, 2015	Oct. 26, 2014	Oct. 25, 2015	Oct. 26, 2014
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	1,081	654	826	607

Supplementary Balance Sheet I34

Supplementary Balance Sheet Information Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Oct. 25, 2015	Jan. 25, 2015
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 778,490	$ 719,683
Accumulated depreciation	(366,770)	(327,489)
Total property and equipment, net	411,720	392,194
Buildings
Property, Plant and Equipment [Line Items]
Total property and equipment	65,725	65,658
Store fixtures and equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	402,662	364,711
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	272,569	242,966
Office furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	15,710	13,692
Automobiles
Property, Plant and Equipment [Line Items]
Total property and equipment	1,128	1,315
Construction in progress
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 20,696	$ 31,341

Supplementary Balance Sheet I35

Supplementary Balance Sheet Information Accrued Liabilities (Details) - USD ($) $ in Thousands	Oct. 25, 2015	Jan. 25, 2015
Supplementary Balance Sheet Info [Abstract]
Accrued compensation and benefits	$ 33,884	$ 31,698
Accrued occupancy cost	9,390	8,569
Other accrued taxes	5,046	4,619
Accrued construction and maintenance costs	6,613	11,030
Closed store reserves	4,929	1,112
Other accrued liabilities	18,425	17,613
Total accrued liabilities	$ 78,287	$ 74,641