Document and Entity Information
Document and Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 30, 2016 | Mar. 25, 2016 | Aug. 01, 2015 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Jan. 30, 2016 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | GMAN | ||
Entity Registrant Name | Gordmans Stores, Inc. | ||
Entity Central Index Key | 1,490,636 | ||
Current Fiscal Year End Date | --01-30 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Common Stock, Shares Outstanding | 19,655,793 | ||
Entity Public Float | $ 51 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 30, 2016 | Jan. 31, 2015 | Feb. 01, 2014 | |
Income Statement [Abstract] | |||
Net sales | $ 648,967 | $ 634,620 | $ 619,559 |
License fees from leased departments | 8,889 | 8,608 | 7,828 |
Cost of sales | (383,446) | (378,883) | (365,463) |
Gross profit | 274,410 | 264,345 | 261,924 |
Selling, general and administrative expenses | (275,739) | (265,276) | (247,131) |
Income / (loss) from operations | (1,329) | (931) | 14,793 |
Interest expense, net | (3,769) | (4,998) | (2,482) |
Loss on extinguishment of debt | (2,014) | ||
Income / (loss) before taxes | (7,112) | (5,929) | 12,311 |
Income tax (expense) / benefit | 2,774 | 2,453 | (4,298) |
Net income / (loss) | $ (4,338) | $ (3,476) | $ 8,013 |
Basic earnings / (loss) per share | $ (0.22) | $ (0.18) | $ 0.42 |
Diluted earnings / (loss) per share | $ (0.22) | $ (0.18) | $ 0.41 |
Basic weighted average shares outstanding | 19,406,921 | 19,360,478 | 19,288,623 |
Diluted weighted average shares outstanding | 19,406,921 | 19,360,478 | 19,345,308 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jan. 30, 2016 | Jan. 31, 2015 |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 6,969 | $ 7,634 |
Accounts receivable | 3,896 | 3,930 |
Landlord receivable | 3,805 | 1,559 |
Income taxes receivable | 2,746 | 8,525 |
Merchandise inventories | 106,566 | 94,470 |
Deferred income taxes | 5,077 | 2,895 |
Prepaid expenses and other current assets | 8,096 | 8,535 |
Total current assets | 137,155 | 127,548 |
PROPERTY AND EQUIPMENT, net | 86,375 | 91,601 |
INTANGIBLE ASSETS, net | 1,820 | 1,820 |
OTHER ASSETS, net | 4,902 | 5,908 |
TOTAL ASSETS | 230,252 | 226,877 |
CURRENT LIABILITIES: | ||
Accounts payable | 66,393 | 64,349 |
Accrued expenses | 30,151 | 31,353 |
Current portion of long-term debt | 18,850 | 12,463 |
Total current liabilities | 115,394 | 108,165 |
NONCURRENT LIABILITIES: | ||
Long-term debt, less current portion | 27,965 | 28,827 |
Deferred rent | 33,522 | 35,381 |
Deferred income taxes | 18,130 | 15,636 |
Other liabilities | 347 | 381 |
Total noncurrent liabilities | $ 79,964 | $ 80,225 |
COMMITMENTS AND CONTINGENCIES | ||
STOCKHOLDERS' EQUITY: | ||
Preferred stock - $0.001 par value, 5,000,000 shares authorized, none issued and outstanding as of January 30, 2016 and January 31, 2015, respectively | ||
Common stock - $0.001 par value, 50,000,000 shares authorized, 20,090,881 issued and 19,682,248 outstanding as of January 30, 2016, 19,985,256 issued and 19,576,623 outstanding as of January 31, 2015 | $ 20 | $ 20 |
Additional paid-in capital | 54,601 | 53,870 |
Accumulated deficit | (19,727) | (15,403) |
Total stockholders' equity | 34,894 | 38,487 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 230,252 | $ 226,877 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Jan. 30, 2016 | Jan. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 20,090,881 | 19,985,256 |
Common stock, shares outstanding | 19,682,248 | 19,576,623 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings (Accumulated Deficit) [Member] |
BALANCE at Feb. 02, 2013 | $ 102,388 | $ 19 | $ 52,461 | $ 49,908 |
BALANCE, shares at Feb. 02, 2013 | 19,404,322 | |||
Share-based compensation expense | 1,250 | 1,250 | ||
Issuance of restricted stock, net of forfeitures, shares | 8,400 | |||
Exercise of stock options, shares | 12,354 | |||
Exercise of stock options | 136 | 136 | ||
Repurchase of common stock | (52) | (52) | ||
Repurchase of common stock, shares | (4,632) | |||
Dividend declared | (69,930) | (69,930) | ||
Net income / (loss) | 8,013 | 8,013 | ||
BALANCE at Feb. 01, 2014 | 41,805 | $ 19 | 53,795 | (12,009) |
BALANCE, shares at Feb. 01, 2014 | 19,420,444 | |||
Share-based compensation expense | 362 | 362 | ||
Issuance of restricted stock, net of forfeitures | 1 | $ 1 | ||
Issuance of restricted stock, net of forfeitures, shares | 160,400 | |||
Repurchase of common stock | (15) | (15) | ||
Repurchase of common stock, shares | (4,221) | |||
Deferred tax asset shortfall related to share-based compensation expense | (272) | (272) | ||
Forfeiture of dividends payable on unvested restricted stock | 82 | 82 | ||
Net income / (loss) | (3,476) | (3,476) | ||
BALANCE at Jan. 31, 2015 | $ 38,487 | $ 20 | 53,870 | (15,403) |
BALANCE, shares at Jan. 31, 2015 | 19,576,623 | 19,576,623 | ||
Share-based compensation expense | $ 1,008 | 1,008 | ||
Issuance of restricted stock, net of forfeitures, shares | 99,800 | |||
Exercise of stock options, shares | 5,825 | |||
Exercise of stock options | 31 | 31 | ||
Deferred tax asset shortfall related to share-based compensation expense | (308) | (308) | ||
Forfeiture of dividends payable on unvested restricted stock | 14 | 14 | ||
Net income / (loss) | (4,338) | (4,338) | ||
BALANCE at Jan. 30, 2016 | $ 34,894 | $ 20 | $ 54,601 | $ (19,727) |
BALANCE, shares at Jan. 30, 2016 | 19,682,248 | 19,682,248 |
Consolidated Statements of Sto6
Consolidated Statements of Stockholders' Equity (Parenthetical) | 12 Months Ended |
Feb. 01, 2014$ / shares | |
Statement of Stockholders' Equity [Abstract] | |
Dividend declared, per share | $ 3.60 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 30, 2016 | Jan. 31, 2015 | Feb. 01, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net income / (loss) | $ (4,338) | $ (3,476) | $ 8,013 |
Adjustments to reconcile net income / (loss) to net cash provided by operating activities: | |||
Depreciation and amortization expense | 16,712 | 13,698 | 9,841 |
Write-off of deferred financing fees related to extinguishment of debt | 1,722 | ||
Amortization of deferred financing fees | 476 | 620 | 499 |
Loss on retirement / sale of property and equipment | 712 | 435 | |
Deferred income taxes | 312 | 6,003 | 119 |
Deferred tax asset shortfall related to share-based compensation expense | (308) | (272) | |
Share-based compensation expense, net of forfeitures | 1,008 | 362 | 1,250 |
Net changes in operating assets and liabilities: | |||
Accounts, landlord and income taxes receivable | 3,567 | (2,734) | 856 |
Merchandise inventories | (12,096) | 241 | (16,705) |
Prepaid expenses and other current assets | 439 | 83 | (1,809) |
Other assets | (37) | (52) | (1,206) |
Accounts payable | 2,044 | 21,788 | 8,350 |
Deferred rent | (1,859) | 3,790 | 9,594 |
Accrued expenses and other liabilities | 252 | 4,694 | 2,013 |
Net cash provided by / (used in) operating activities | 8,606 | 45,180 | 20,815 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Purchase of property and equipment | (17,311) | (42,862) | (60,133) |
Proceeds from sale-leaseback transactions | 3,652 | 12,064 | 23,812 |
Cash received on sale of property and equipment | 73 | ||
Proceeds from insurance settlement | 21 | 39 | |
Net cash used in investing activities | (13,638) | (30,686) | (36,321) |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Borrowings on revolving line of credit | 222,550 | 211,350 | 61,973 |
Repayments on revolving line of credit | (216,584) | (207,566) | (54,723) |
Proceeds from secured term loan | 30,000 | 45,000 | |
Payment of long-term debt | (30,441) | (15,603) | (189) |
Payment of debt issuance costs | (863) | (714) | (2,022) |
Payment penalty on early extinguishment of debt | (292) | ||
Dividends paid | (34) | (71) | (69,682) |
Proceeds from the exercise of stock options | 31 | 136 | |
Repurchase of common stock | (15) | (52) | |
Net cash provided by / (used in) financing activities | 4,367 | (12,619) | (19,559) |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (665) | 1,875 | (35,065) |
CASH AND CASH EQUIVALENTS, Beginning of period | 7,634 | 5,759 | 40,824 |
CASH AND CASH EQUIVALENTS, End of period | $ 6,969 | $ 7,634 | $ 5,759 |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 12 Months Ended |
Jan. 30, 2016 | |
Accounting Policies [Abstract] | |
Summary Of Significant Accounting Policies | A. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business Basis of Presentation Reporting Year Revenue Recognition Cash Equivalents Accounts Receivable Landlord Receivable Merchandise Inventories – Property and Equipment The Company has determined it is the accounting owner of certain leased store locations during the construction period of such assets pursuant to sale-leaseback accounting. In certain of the Company’s operating lease agreements for leased store locations, the Company is responsible for funding the construction of the structural store assets and the landlord reimburses the Company pursuant to the underlying lease agreement. The landlord maintains title of the real property, or structural assets, during the construction phase of a new store location or existing store remodel. During the construction period, the Company serves as the agent for the construction project and is obligated to fund cost overruns or may benefit if the cost of construction is less than the tenant improvement allowance. When construction payments are made by the Company, a fixed asset is recorded in construction-in-progress within property and equipment. The Company bears substantially all construction period risk for these new store construction projects and existing store remodels and the Company pays for the construction costs pursuant to a contractual arrangement that includes the right of reimbursement from the landlord. Accordingly, the Company reports the costs of construction as a purchase of property and equipment in “Purchase of property and equipment” and the reimbursements from landlords for structural assets as “Proceeds from sale-leaseback transactions” under cash flows from investing activities in the consolidated statements of cash flows. When construction is complete, the Company records a sale-leaseback transaction which represents the title transfer of the structural assets that are sold back to the landlord pursuant to sale-leaseback accounting. No gain or loss associated with the sale of such assets is recognized as the Company receives reimbursement from the landlord for the construction costs and leases are structured as operating leases. The sale-leaseback transaction is disclosed in “Supplemental Cash Flow Information” as a non-cash investing and financing activity. Such sale-leaseback transactions do not involve any future commitments, obligations, provisions or circumstances that require or result in the Company’s continuing involvement and the Company is no longer deemed the accounting owner of the landlord-owned assets once the store construction is completed and the sale-leaseback transaction is recorded. Long-Lived Assets Intangible Assets Finite-lived intangible assets are amortized using the straight-line method over their estimated useful lives and are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. Finite-lived intangible assets were fully amortized at the end of fiscal year 2015. No impairment was recorded during the fiscal years 2015, 2014 or 2013. Deferred Financing Fees Operating Leases Tenant improvement assets, as well as the corresponding tenant improvement allowances, are recorded when the amount of new store construction covered by the tenant improvement allowance exceeds the amount attributable to the landlord’s owned asset, generally the building shell. Tenant improvement assets, which generally represent non-structural improvements (i.e. furniture, fixtures and equipment) for which the Company receives reimbursement from the landlord, are depreciated over the initial life of the lease, prior to any lease extensions. For tenant improvement assets, as well as rent holidays, the Company records a corresponding deferred rent liability in “Deferred Rent” on the consolidated balance sheets and amortizes the deferred rent over the initial term of the lease as a reduction to rent expense on the consolidated statements of operations. The Company’s store leases generally contain escalating rent payments over the initial term of the lease, however the Company accounts for the lease expense on a straight-line basis over that period. The straight-line rent expense is calculated at the inception of the lease, which entails recording a monthly liability for the difference between rent paid to the landlord and straight-line rent expense as calculated at the beginning of the lease, excluding renewal options. Over the life of the lease, this deferred rent liability is amortized as rent paid to the landlord eventually exceeds the calculated straight-line amount. Certain leases provide for contingent rents, which are determined as a percentage of gross sales in excess of specified levels. The Company records a contingent rent liability in “Accrued Expenses” on the consolidated balance sheets and the corresponding rent expense when specified levels have been achieved or when management determines that achieving the specified levels during the fiscal year is probable. Loyalty Program Self-Insurance Share-Based Compensation Cost of Sales Selling, General and Administrative Expenses Pre-opening and Closing Expenses Advertising Expenses Income Taxes A valuation allowance is provided to adjust deferred taxes to the amount that is more likely than not to be realized when management cannot conclude that it is more likely than not that a tax benefit will be realized. In determining the need for a valuation allowance, the Company considers many factors, including taxable income in carry-back periods, historical and forecasted earnings, future taxable income, and the mix of earnings in the jurisdictions in which we operate the reversal of deferred tax liabilities and tax planning strategies. Uncertain tax positions are evaluated in a two-step process. The Company first determines whether it is more likely than not that a tax position will be sustained upon examination. If a tax position meets the more-likely-than-not recognition threshold, it is then measured to determine the amount of benefit to recognize in the consolidated financial statements. The tax position is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. The evaluation of uncertain tax positions requires numerous estimates based on available information. The Company considers many factors when evaluating and estimating their tax positions and tax benefits. Interest expense and penalties, if any, are accrued on the unrecognized tax benefits and reflected in “Interest expense, net” and “Selling, general and administrative expenses”, respectively. Loss Per Share Financial Instruments Concentration of Credit Risk Use of Accounting Estimates Comprehensive Income Segment Reporting The following information reflects the percentage of revenues by major product category as a percentage of net sales: Year Year Year Apparel 56.6 % 56.8 % 56.1 % Home 27.8 27.7 27.9 Accessories (including fragrances) 15.6 15.5 16.0 Total 100.0 % 100.0 % 100.0 % Public Offering Recently Issued Accounting Pronouncements Revenue from Contracts with Customers Revenue from Contracts with Customers, Deferral of the Effective Date In April 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements In November 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes In February 2016, the FASB issued ASU No. 2016-02, Leases Supplemental Cash Flow Information Year Year Year Non-cash investing and financing activities: Purchases of property and equipment in accrued expenses at the end of the period $ 2,437 $ 3,877 $ 5,923 Sales of property and equipment pursuant to sale-leaseback accounting 8,614 7,100 10,352 Dividends declared but not yet paid 47 97 248 Dividends payable forfeited on unvested restricted stock 14 82 — Purchases of equipment with capital lease commitments and financing arrangements — 872 — Other cash flow information: Cash paid for interest 3,096 4,373 1,991 Cash paid (received) for income taxes, net (8,584 ) (3,505 ) 6,672 Sales of property and equipment pursuant to sale-leaseback accounting represents the amount of structural assets sold to the landlord at the completion of construction for which the Company was deemed the owner during the construction period, pursuant to sale-leaseback accounting, and for which no cash was received upon transfer of ownership. |
Prepaid Expenses and Other Curr
Prepaid Expenses and Other Current Assets | 12 Months Ended |
Jan. 30, 2016 | |
Text Block [Abstract] | |
Prepaid Expenses and Other Current Assets | B. PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets consist of the following: January 30, January 31, Prepaid rent – real estate $ 4,555 $ 4,572 Other prepaid expenses and current assets 3,541 3,963 $ 8,096 $ 8,535 |
Property and Equipment
Property and Equipment | 12 Months Ended |
Jan. 30, 2016 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment | C. PROPERTY AND EQUIPMENT Property and equipment consist of the following: January 30, January 31, Leasehold improvements $14,034 $ 12,098 Furniture, fixtures and equipment 89,481 81,199 Computer software 28,606 24,496 Capitalized leases 2,402 2,402 Construction in progress 4,320 7,731 138,843 127,926 Less accumulated depreciation and amortization (52,468 ) (36,325 ) $86,375 $ 91,601 Depreciation and amortization expense on property and equipment was $16.7 million, $13.6 million and $9.8 million for fiscal years 2015, 2014 and 2013, respectively, and is included in “Selling, general and administrative expenses” in the consolidated statements of operations. Accumulated amortization on capital leases was $1.9 million and $1.7 million as of January 30, 2016 and January 31, 2015, respectively. |
Intangible Assets
Intangible Assets | 12 Months Ended |
Jan. 30, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets | D. INTANGIBLE ASSETS Intangible assets consist of the following: January 30, 2016 January 31, 2015 Useful Gross Accumulated Gross Accumulated Amortized intangible assets: Footwear license fee agreement 6.3 years $ 522 $ (522 ) $ 522 $ (522 ) Maternity license fee agreement 2.4 years 24 (24 ) 24 (24 ) Favorable lease rights, net 6.0 years 24 (24 ) 24 (24 ) 570 (570 ) 570 (570 ) Intangible assets not subject to amortization: Trade name 1,820 N/A 1,820 N/A Total $ 2,390 $ (570 ) $ 2,390 $ (570 ) Intangible assets were fully amortized at the end of fiscal year 2014. Amortization expense on intangible assets was $0.1 million in each of fiscal years 2014 and 2013, respectively. |
Accrued Expenses
Accrued Expenses | 12 Months Ended |
Jan. 30, 2016 | |
Payables and Accruals [Abstract] | |
Accrued Expenses | E. ACCRUED EXPENSES Accrued expenses consist of the following: January 30, January 31, Store, distribution center and corporate accruals $ 17,885 $ 19,274 Associate compensation 3,502 3,186 Gift card and certificate liability 3,892 3,743 Accrued real estate taxes 1,541 2,080 Other taxes accrued 1,891 1,851 Self-insurance claims liabilities 1,189 1,165 Interest 251 54 $ 30,151 $ 31,353 |
Deferred Rent
Deferred Rent | 12 Months Ended |
Jan. 30, 2016 | |
Text Block [Abstract] | |
Deferred Rent | F. DEFERRED RENT The Company records a deferred rent liability to account for tenant improvement allowances and to record rent on a straight-line basis for operating leases. Deferred rent consists of the following: January 30, January 31, Tenant improvement allowances $ 23,228 $ 25,249 Straight-line rent expense 10,294 10,132 $ 33,522 $ 35,381 |
Debt Obligations
Debt Obligations | 12 Months Ended |
Jan. 30, 2016 | |
Debt Disclosure [Abstract] | |
Debt Obligations | G. DEBT OBLIGATIONS Revolving Line of Credit Facility The June 29, 2015 amendment established a $30.0 million secured term loan facility provided by Wells Fargo, Pathlight Capital LLC and Gordon Brothers Finance Company, as discussed below. The amendment changed the 1.0% early termination fee applicable to the revolving line of credit facility such that the fee is payable if the facility is terminated prior to November 14, 2016 and extended the maturity date of the revolving line of credit facility from August 27, 2018 to June 28, 2020. The amendment also eliminated the seasonal borrowing periods during which periods the applicable interest rate increased by 75 basis points and advance rates under the borrowing base were increased by 5.0%, amended the minimum excess availability covenant, and amended certain negative and affirmative covenant requirements. Average borrowings during fiscal years 2015 and 2014 were $19.6 million and $9.5 million, respectively. Borrowings under this facility bear interest at various rates, with two rate options at the discretion of management as follows: (1) for base rate advances, borrowings bear interest at the prime rate plus 1.00% when average excess availability is less than or equal to $40.0 million and the prime rate plus 0.75% when average excess availability is greater than $40.0 million, and (2) for LIBOR rate advances, borrowings bear interest at the LIBOR rate plus 2.00% when average excess availability is less than or equal to $40.0 million and the LIBOR rate plus 1.75% when average excess availability is greater than $40.0 million. The Company is required to maintain minimum excess availability under the revolving line of credit facility of at least $20.0 million, the calculation of which now includes up to $3.0 million of unrestricted cash. The Company had $56.3 million and $44.1 million available to borrow at January 30, 2016 and January 31, 2015, respectively. Borrowings under this facility bore interest at a rate of 4.25% under the base rate option at January 30, 2016, and 3.75% at January 31, 2015. The Company had outstanding letters of credit included in the borrowing base totaling approximately $6.7 million and $7.0 million as of January 30, 2016 and January 31, 2015, respectively. An unused line fee is payable quarterly in an amount equal to 0.25% of the sum of the average daily unused revolver amount during the immediately preceding month plus the average daily balance of the letter of credit usage during the immediately preceding month. An administrative agent fee is also payable under the facility on an annual basis. Borrowings are secured by the Company’s inventory, accounts receivable and all other personal property, except as specifically excluded in the agreement. The revolving line of credit facility has a first lien on all collateral other than term loan priority collateral, as defined in the June 29, 2015 amendment, and a second lien on the term loan priority collateral, as defined in the June 29, 2015 amendment. Senior Term Loan The new secured term loan facility matures on the same date as the revolving line of credit facility and has principal payments of $0.4 million due on a quarterly basis beginning in October 2015 through the maturity date, with the remaining principal due on the maturity date of June 28, 2020. The Company may repay at any time all or a portion of the outstanding principal amount of the new secured term loan facility, subject to a prepayment premium equal to 3.0% in the first year, 1.5% in the second year, 0.5% in the third year and 0.0% thereafter. The term loan facility carries an interest rate equal to the LIBOR rate plus 6.25% with a floor of 1.0%. The interest rate on the new secured term loan facility was 7.25% at January 30, 2016 which compares to the Cerberus senior term loan interest rate of 9.5% at January 31, 2015. The secured term loan facility includes a borrowing base in addition to the revolving loan borrowing base. The secured term loan facility is secured by the same collateral as the revolving line of credit facility but has a priority lien on real estate, fixtures, equipment, intellectual property and books, records, permits, licenses, insurance and proceeds thereof and a second lien on the revolving priority collateral, as defined in the June 29, 2015 amendment. The Cerberus senior term loan had a maturity date of August 27, 2018, with payments of $0.3 million due on a quarterly basis from October 2014 through October 2015 and payments of $0.4 million due on a quarterly basis beginning in January 2016 through the maturity date, with the remaining principal due on the maturity date. The Cerberus senior term loan was secured on a second lien basis by the Company’s inventory, accounts receivable and all other personal property, except as specifically excluded in the agreement. In connection with the extinguishment of the Cerberus senior term loan, the Company wrote off deferred financing fees of $1.7 million and paid a prepayment penalty of $0.3 million, which was equal to 1.0% of the outstanding principal balance at the time of the loan extinguishment. This expense is recorded as loss on extinguishment of debt in the consolidated statement of operations during the fiscal year 2015. Among other provisions, the Company’s debt agreement with Wells Fargo contains customary affirmative and negative covenants, including a negative covenant that restricts the level and form of indebtedness entered into by the Company or its wholly owned subsidiaries. Exceptions to this covenant include borrowings under our $30.0 million secured term loan and, subject to certain conditions, indebtedness not to exceed $10.0 million in the aggregate in connection with all acquisitions occurring after February 20, 2009. The revolving line of credit facility also includes a negative covenant that restricts dividends and other upstream distributions by the Company and its subsidiaries to the extent the Company does not meet minimum excess availability thresholds. Exceptions to this covenant include dividends or other upstream distributions: (i) by subsidiaries of Gordmans, Inc. to Gordmans, Inc. and its other subsidiaries, (ii) that consist of repurchases of stock of employees in an amount not to exceed $0.5 million in any fiscal year, (iii) that consist of the payment of taxes on behalf of any employee, officer or director of the Company for vested restricted stock of the Company owned by such employee, officer or director, (iv) to the Company to pay federal, state and local income taxes and franchise taxes solely arising out of the consolidated operations of the Company and its subsidiaries, (v) to the Company to pay certain reasonable directors’ fees and out-of-pocket expenses, reasonable and customary indemnities to directors, officers and employees and other expenses in connection with ordinary corporate governance, overhead, legal and accounting and maintenance and (vi) dividends so long as no event of default exists, projected excess availability for the next twelve months is greater than $35.0 million and 30% of the loan cap and the fixed charge coverage ratio is greater than 1.0 to 1.0 on a historical and projected basis. The agreement also includes a negative covenant that restricts subsidiaries of the Company from making any loans to the Company. Should the Company default on scheduled repayment of the secured term loan facility, Wells Fargo may make any outstanding obligations under the agreement immediately due and payable. As of January 30, 2016, the Company was in compliance with all of its debt covenants. Long-term Debt January 30, January 31, Revolving line of credit facility $ 17,000 $ 11,034 Term loan 29,160 29,437 Capital lease obligations 655 819 Total long-term debt 46,815 41,290 Less current portion of long-term debt (18,850 ) (12,463 ) Long-term debt, less current portion $ 27,965 $ 28,827 At January 30, 2016, annual maturities of long-term debt during the next five fiscal years and were as follows: 2016 $ 1,850 2017 1,856 2018 1,863 2019 1,806 2020 39,440 Total long-term debt $ 46,815 The Company had $17.0 million of borrowings outstanding under the revolving line of credit facility as of January 30, 2016, which is included in the current portion of long-term debt as the Company intends to repay the outstanding borrowings within the next twelve months. The Company had $11.0 million of borrowings outstanding under the revolving line of credit facility as of January 31, 2015. During fiscal year 2014, the Company entered into two capital lease arrangements to finance the purchase of computer hardware and software. Payments of $7 thousand, including fixed interest at 3.75%, are due monthly through September 2019 and payments of $9 thousand, including fixed interest at 3.75%, are due monthly through September 2019. |
Leases
Leases | 12 Months Ended |
Jan. 30, 2016 | |
Leases [Abstract] | |
Leases | H. LEASES The Company has entered into short and long term operating lease agreements. These leases relate to retail store locations, the distribution centers and the corporate headquarters. The leases expire on various dates through the year 2029 with most of the leases containing renewal options. Leases for retail store locations typically have base lease terms of 10 years with one or more renewal periods, usually for five years. Certain retail store leases contain provisions for additional rent based on varying percentages of net sales. Leases for the second distribution center and the new corporate headquarters have base lease terms of 15 years with multiple renewal periods. In fiscal year 2014, the Company entered into capital lease arrangements for computer hardware and related software with a lease term of 5 years. Total rental expense related to all operating leases (including those with terms less than one year) was $55.7 million and $54.9 million in fiscal years 2015 and 2014, respectively. Included in total rental expense in each of the fiscal years 2015 and 2014 is contingent rent of $0.2 million. Contingent rent is calculated as a percent of sales over a specified amount, which varies by lease. Future minimum lease payments, by fiscal year, under operating leases and future obligations under non-cancelable capital leases, by fiscal year, as of January 30, 2016 are as follows: Operating Capital 2016 $ 56,740 $ 192 2017 55,871 192 2018 51,494 192 2019 46,682 126 2020 40,803 — After 2020 113,100 — Total minimum lease payments $ 364,690 702 Less: capital lease amount representing interest (47 ) Present value of minimum lease payments 655 Less: current maturities of capital lease obligations (170 ) Noncurrent maturities of capital lease obligations $ 485 |
Income Taxes
Income Taxes | 12 Months Ended |
Jan. 30, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | I. INCOME TAXES Income tax expense (benefit) consists of the following: Year Year Year Current: Federal $ (2,894 ) $ (8,188 ) $ 3,678 State 59 3 501 (2,835 ) (8,185 ) 4,179 Deferred: Federal 111 5,732 93 State (50 ) — 26 61 5,732 119 Total $ (2,774 ) $ (2,453 ) $ 4,298 The tax effects of significant items comprising the Company’s deferred income tax assets and liabilities as of January 30, 2016 and January 31, 2015 are as follows: January 30, January 31, Deferred income tax assets: Leases $ 3,912 $ 3,850 Merchandise inventories 2,797 1,681 Accrued compensation 1,208 1,170 Alternative minimum tax credit 427 56 Prepaid expenses and other assets 414 344 State net operating loss carryforwards 386 231 Federal tax credit carryforwards 350 — Accrued expenses 322 332 Gift cards and certificates 208 154 10,024 7,818 Deferred income tax liabilities: Property and equipment (13,323 ) (13,019 ) Software (9,062 ) (6,848 ) Intangibles (692 ) (692 ) (23,077 ) (20,559 ) Net deferred income tax liability (13,053 ) (12,741 ) Less: Current deferred income tax asset (5,077 ) (2,895 ) Long-term deferred income tax liability $ (18,130 ) $ (15,636 ) The reconciliation of income tax computed at the U.S. statutory rate to the effective income tax rate is as follows: Year Year Year U.S. Federal statutory tax rate 35.0 % 35.0 % 35.0 % State income tax expense, net of federal tax effect 0.1 0.1 3.0 Federal tax credits 6.6 11.4 (2.4 ) Nondeductible expenses (2.1 ) (3.4 ) 0.7 Other (0.6 ) (1.7 ) (1.4 ) Total income tax rate 39.0 % 41.4 % 34.9 % As of January 30, 2016, the Company had state net operating loss carryovers of $12.7 million. These carryovers will begin to expire in 2021 and will be completely expired by 2035 if not utilized. The tax effect of these carryovers is recorded as a deferred income tax asset in the consolidated balance sheets. The Company determined no unrecognized tax benefits for the fiscal years ended January 30, 2016 and January 31, 2015, including interest and penalties, were necessary to be recorded in the consolidated financial statements. As such, the Company does not expect there to be an impact on the effective tax rate. The Company files income tax returns in the U.S. federal jurisdiction and various state and local jurisdictions in which a statute of limitations period exists. After the statute period expires, the tax authorities may no longer assess additional income taxes for the expired period. Additionally, once the statute period expires, the Company is no longer eligible to file claims for refund for any taxes that may have been overpaid. As of January 30, 2016, four tax periods are subject to audit by the United States Internal Revenue Service (IRS), covering the tax years ended January 30, 2016; January 31, 2015; February 1, 2014; and February 2, 2013. The Company’s fiscal years ended January 31, 2015; February 1, 2014; and February 2, 2013 are currently under examination by the IRS. Various state jurisdiction tax years remain open to examination as well. The Company believes there will be no change in its reserves for certain unrecognized tax benefits during the next 12 months. |
Employee Benefits
Employee Benefits | 12 Months Ended |
Jan. 30, 2016 | |
Postemployment Benefits [Abstract] | |
Employee Benefits | J. EMPLOYEE BENEFITS The Company offers a 401(k) savings plan that allows associates to defer a percentage of their income by making pretax contributions to the savings plan. The Company provided a matching contribution equal to 50% of associate deferrals up to a maximum of 4% of associate compensation for fiscal years 2015 and 2014. The Company suspended matching contributions to the plan in fiscal year 2013. During each fiscal year 2015 and 2014, the Company contributed $0.4 million as matching contributions. The Company’s contributions vest immediately. |
Earnings (Loss) Per Share
Earnings (Loss) Per Share | 12 Months Ended |
Jan. 30, 2016 | |
Earnings Per Share [Abstract] | |
Earnings (Loss) Per Share | K. EARNINGS (LOSS) PER SHARE The following is a reconciliation of the outstanding shares utilized in the computation of earnings (loss) per common share: Year Year Year Basic weighted average shares outstanding 19,406,921 19,360,478 19,288,623 Dilutive effect of non-vested stock and stock options — — 56,685 Diluted weighted average shares outstanding 19,406,921 19,360,478 19,345,308 The anti-dilutive effect of 1,389,887, 1,127,620 and 307,887 stock options has been excluded from diluted weighted average shares outstanding for the fiscal years ended January 30, 2016, January 31, 2015 and February 1, 2014, respectively. |
Share-Based Compensation
Share-Based Compensation | 12 Months Ended |
Jan. 30, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share-Based Compensation | L. SHARE-BASED COMPENSATION The Gordmans Stores, Inc. 2010 Omnibus Incentive Compensation Plan (the “2010 Plan”) provides for grants of stock options, stock appreciation rights, restricted stock, restricted stock units, dividend equivalents and other share-based awards. Directors, officers and other associates of the Company and its subsidiaries, as well as others performing consulting or advisory services, are eligible for grants under the 2010 Plan. On May 28, 2014, the number of shares available under the 2010 Plan was increased by 2,000,000 shares to 4,573,086 shares. The exercise price of an option granted under the 2010 Plan will not be less than 100% of the fair value of a share of the Company’s common stock on the date of grant, provided the exercise price of an incentive stock option granted to a person holding greater than 10% of the Company’s voting power may not be less than 110% of such fair value on such date. The term of each option may not exceed ten years or, in the case of an incentive stock option granted to a ten percent stockholder, five years. Under the 2010 Plan, in the event of a dividend or other distribution other than regular cash dividends, recapitalization, or other transactions or events affecting the Company’s common stock, the Company must equitably adjust the number of shares of common stock subject to outstanding stock options and restricted stock and must adjust the exercise price of any outstanding stock options. On August 26, 2013, the Company declared a special cash dividend of $69.9 million, or $3.60 per share of common stock, of which $69.7 million was paid during fiscal 2013. The remaining $0.2 million is being paid as the non-vested restricted stock eligible to receive the dividend becomes vested or the participant terminates prior to vesting. Pursuant to the anti-dilution provisions of the 2010 Plan, the Company modified the exercise price of all outstanding stock options on the dividend date by reducing the exercise price of each non-qualified stock option by the dividend per share of $3.60 and the incentive stock options by $2.82 per share. In addition, pursuant to the 2010 Plan, the Company granted 77,195 shares of additional incentive stock options on September 24, 2013 to the existing holders of the incentive stock options to maintain the same intrinsic value of the awards both before and after the dividend payment, with the additional incentive stock options adopting the same vesting schedule as the original incentive stock options awarded. The Company compared the fair value of the original stock options immediately before the modifications to the fair value of the modified stock options immediately after the modifications to the awards and, as a result, no additional share-based compensation expense is required to be recognized over the remaining vesting periods of the stock options. There were no modifications to the restricted stock awards outstanding on the dividend date. There were 1,526,620 shares of common stock available for future grants under the 2010 Plan at January 30, 2016. Restricted Stock Shares of Weighted Non-vested, January 31, 2015 209,770 $ 6.21 Granted 150,250 5.66 Forfeited (50,450 ) 5.87 Vested (55,340 ) 6.39 Non-vested, January 30, 2016 254,230 $ 5.91 Restricted stock vests at rates of 20% per year over five years, 25% per year over four years or 33 1 3 Performance Shares A summary of performance share activity during fiscal year 2015 is set forth in the table below: Number Non-vested, January 31, 2015 — Granted 103,900 Forfeited (14,300 ) Non-vested, January 30, 2016 89,600 The Company used the Monte Carlo valuation model to estimate the fair value of the performance shares on the date of the grant. The weighted average assumptions used by the Company in applying the Monte Carlo valuation model for option grants during fiscal year 2015 are illustrated in the following table: Year Risk-free interest rate 0.9 % Dividend yield 0.0 % Expected volatility 51.0 % The Monte Carlo valuation also estimated the number of performance shares that would be awarded which is reflected in the fair value on the grant date. The Monte Carlo valuation assumed 159.9% of the performance shares granted would be awarded at the end of fiscal year 2017 based upon the estimated Company’s total shareholder return relative to peer performance. Accordingly, stock compensation expense of $1.0 million, excluding forfeitures, will be recognized over the vesting period of these performance share awards. Unrecognized compensation expense on the performance shares was $0.6 million at January 30, 2016, which is expected to be recognized over a period of 2.0 years. Stock Options Number Weighted Weighted Aggregate (1) Outstanding, January 31, 2015 1,326,143 $ 7.50 Granted 703,000 5.64 Exercised (5,825 ) 5.22 Forfeited (324,780 ) 7.17 Outstanding, January 30, 2016 1,698,538 6.90 8.1 $ — Exercisable, January 30, 2016 505,103 9.79 6.7 — Exercisable or expected to vest as of January 30, 2016 1,346,206 7.12 8.1 — (1) The aggregate intrinsic value for stock options is the difference between the current market value of the Company’s stock as of January 30, 2016 and the option strike price. The stock price at January 30, 2016 was $2.51, which was below the weighted average exercise price for options outstanding, exercisable, and vested or expected to vest at January 30, 2016. The stock options outstanding and exercisable as of January 30, 2016 were in the following exercise price ranges: Options Outstanding Options Exercisable Exercise Price Number Weighted Weighted Number Weighted $2.63 to $5.49 661,025 $ 3.82 5.7 141,206 $ 3.80 $5.86 to $11.02 711,313 6.56 8.6 118,137 8.57 $13.04 to $16.11 326,200 13.91 5.9 245,760 13.82 1,698,538 6.90 7.0 505,103 9.79 The following table summarizes information regarding non-vested outstanding stock options for fiscal year 2014: Number Weighted Non-vested at January 31, 2015 867,092 $ 5.34 Granted 703,000 5.64 Vested (270,279 ) 7.52 Forfeited (324,780 ) 7.17 Non-vested at January 30, 2016 975,033 4.34 The Company recorded a $0.3 million reduction to additional paid-in capital during both fiscal years 2015 and 2014 for a deferred tax shortfall related to share-based compensation expense as there is sufficient cumulative excess tax benefit in the Company’s additional paid-in capital. The tax shortfall was the result of the tax deduction being less than the cumulative book share-based compensation expense already recognized for such awards. The Company received $31 thousand and $0.1 million of proceeds from the exercise of stock options in fiscal years 2015 and 2013 respectively, which is reflected as a financing cash inflow in the consolidated statement of cash flows. The aggregate intrinsic value of stock options exercised in fiscal year 2015 and 2013 was $10 thousand and $35 thousand. There were no stock options exercised in fiscal year 2014. Options forfeited are immediately available for grant under the 2010 Plan. The Company used the Black-Scholes option valuation model to estimate fair value of the options. This model requires an estimate of the volatility of the Company’s share price. Given the Company’s shares or options have not been publicly traded for a period equal to the option term, the Company determined that it was not practical to use the historical volatility of its share price as the sole estimate of volatility. The Company accounts for equity share options based on the Black-Scholes option valuation model using a weighted-average of the historical volatility of the Company’s share price and the historical volatility of an appropriate industry sector index. The historical volatility was calculated using comparisons to peers in the Company’s market sector, which was chosen due to the proximity of size and industry to the Company over the expected term of the option. In determining the expense to be recorded for options, the significant assumptions utilized in applying the Black-Scholes option valuation model are the risk-free interest rate, expected term, dividend yield and expected volatility. The risk-free interest rate is the implied yield currently available on U.S. Treasury zero-coupon issues with a remaining term approximating the expected term used as the assumption in the model. The expected term of the option awards is estimated using the simplified method, or the average of the vesting period and the original contractual term, as it is not practical for the Company to use its historical experience to estimate the expected term because the Company’s shares have not been publicly traded for a significant period of time equal to the option term. The weighted average assumptions used by the Company in applying the Black-Scholes valuation model for option grants during fiscal years 2015, 2014 and 2013 are illustrated in the following table: Year Year Year 2014 Risk-free interest rate 1.7 to 2.0% 2.0% 1.25 to 2.00% Dividend yield 2.0% 2.0% 2.0% Expected volatility 39.0% - 40.0% 36.0% - 40.0% 35.0% - 36.0% Expected life (years) 6.25 6.25 6.25 Weighted average fair value of options granted $1.85 $1.31 $3.43 Stock options have ten-year contractual terms and vest at varying rates of either 20% per year over five years or 25% per year over four years as applicable. None of the stock options outstanding at January 30, 2016 were subject to performance or market-based vesting conditions. As of January 30, 2016, the unrecognized compensation expense on stock options, net of expected forfeitures, was $1.7 million, which is expected to be recognized over a weighted average period of 1.5 years. The total fair value of options vested during the fiscal years ended January 30, 2016, January 31, 2015, and February 1, 2014 was $2.0 million, $0.5 million and $1.4 million, respectively. Share-based compensation expense for fiscal years 2015, 2014 and 2013 was $1.0 million, $0.4 million and $1.3 million, respectively. In fiscal year 2015, the Company recorded a share-based compensation benefit of $0.1 million related to the forfeiture of unvested share-based awards and a $0.2 million benefit resulting from changes in the forfeiture rates used to measure share-based compensation expense based on actual historical and expected future forfeitures. In fiscal year 2014, the Company recorded a share-based compensation benefit of $0.5 million related to the forfeiture of unvested share-based awards and a $0.1 million benefit resulting from changes in the forfeiture rates used to measure share-based compensation expense based on actual historical and expected future forfeitures. Share-based compensation expense is recorded in selling, general and administrative expenses in the consolidated statements of operations. |
Related Party Disclosure
Related Party Disclosure | 12 Months Ended |
Jan. 30, 2016 | |
Related Party Transactions [Abstract] | |
Related Party Disclosure | M. RELATED PARTY DISCLOSURE The Company has a services agreement with Sun Capital Partners Management V, LLC (“Sun Capital Management”), an affiliate of the private equity firm Sun Capital Partners, Inc. (“Sun Capital”) to (1) reimburse Sun Capital Management for out-of-pocket expenses incurred in providing consulting services to the Company and (2) provide Sun Capital Management with customary indemnification for any such services. Sun Capital was reimbursed $37 thousand and $0.4 million during fiscal year 2015 and fiscal year 2014, respectively. Expenses incurred during fiscal year 2014 include reimbursement payments to Sun Capital for third party professional consulting services related to the search for a chief executive officer following the retirement of our former chief executive officer during the first quarter of fiscal year 2014. Additionally, the Company purchased merchandise inventories of $2.0 million and $1.6 million from vendors which are Sun Capital affiliates during fiscal year 2015 and fiscal year 2014, respectively. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Jan. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | N. COMMITMENTS AND CONTINGENCIES From time to time, the Company is involved in litigation relating to claims arising out of its operations in the normal course of business. As of the date of this report, the Company was not engaged in any legal proceedings that are expected, individually or in the aggregate, to have a material effect on the Company. |
Selected Quarterly Financial In
Selected Quarterly Financial Information (Unaudited) | 12 Months Ended |
Jan. 30, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Selected Quarterly Financial Information (Unaudited) | O. SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED) The following table sets forth unaudited selected financial information in each quarter for fiscal years 2015 and 2014, respectively: Fiscal 2015 First Second Third Fourth Net sales $ 145,940 $ 143,434 $ 153,856 $ 205,737 Gross profit 64,968 62,827 68,352 78,263 Net income / (loss) 374 (3,031 ) (2,763 ) 1,082 Basic earnings / (loss) per share (1) 0.02 (0.16 ) (0.14 ) 0.06 Diluted earnings / (loss) per share (1) 0.02 (0.16 ) (0.14 ) 0.06 Fiscal 2014 First Second Third Fourth Net sales $ 143,022 $ 141,039 $ 146,653 $ 203,906 Gross profit 63,374 59,730 64,412 76,829 Net income / (loss) (732 ) (3,189 ) (1,851 ) 2,296 Basic earnings / (loss) per share (1) (0.04 ) (0.16 ) (0.10 ) 0.12 Diluted earnings / (loss) per share (1) (0.04 ) (0.16 ) (0.10 ) 0.12 (1) Basic and diluted shares outstanding are computed independently for each quarter presented, and therefore, may not sum to the totals for the year. Revenue is typically higher in the third and fourth quarters than in the first and second quarters due to seasonal back-to-school and holiday shopping patterns. The Company’s quarterly operating results may fluctuate significantly as a result of these events and a variety of other factors. Operating results for any quarter are not necessarily indicative of results for a full year. Fiscal year 2015 and fiscal year 2014 are 52-week fiscal years. |
Schedule I - Condensed Parent C
Schedule I - Condensed Parent Company Only Financial Statements | 12 Months Ended |
Jan. 30, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Schedule I - Condensed Parent Company Only Financial Statements | Schedule I – Condensed Parent Company Only Financial Statements The condensed parent company financial statements have been prepared in accordance with Rule 12-04, Schedule I of Regulation S-X The condensed parent company financial statements have been prepared using the same accounting principles and policies described in the notes to the consolidated financial statements, with the only exception being that the parent company accounts for its subsidiaries using the equity method. Refer to the consolidated financial statements and notes presented above for additional information and disclosures with respect to these financial statements. GORDMANS STORES, INC. CONDENSED PARENT COMPANY BALANCE SHEETS (in 000’s except share data) January 30, January 31, ASSETS Investment in subsidiary $ 34,894 $ 38,487 TOTAL ASSETS $ 34,894 $ 38,487 LIABILITIES AND STOCKHOLDERS’ EQUITY Preferred stock — $0.001 par value; 5,000,000 shares authorized, none issued and outstanding as of January 30, 2016 and January 31, 2015, respectively $ — $ — Common stock — $0.001 par value; 50,000,000 shares authorized, 20,090,881 issued and 19,682,248 outstanding as of January 30, 2016, 19,985,256 issued and 19,576,623 outstanding as of January 31, 2015 20 20 Additional paid-in capital 54,601 53,870 Accumulated deficit (19,727 ) (15,403 ) TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 34,894 $ 38,487 GORDMANS STORES, INC. CONDENSED PARENT COMPANY STATEMENTS OF OPERATIONS (in 000’s) Year Year Year Equity in earnings / (loss) of subsidiary $ (3,330 ) $ (3,114 ) $ 9,263 Share-based compensation expense (1,008 ) (362 ) (1,250 ) Net income / (loss) $ (4,338 ) $ (3,476 ) $ 8,013 GORDMANS STORES, INC. CONDENSED PARENT COMPANY STATEMENTS OF CASH FLOWS (in 000’s) Year Year Year CASH FLOWS FROM OPERATING ACTIVITIES: Net income / (loss) $ (4,338 ) $ (3,476 ) $ 8,013 Adjustment to reconcile net income to net cash provided by / (used in) operating activities: Share-based compensation expense 1,008 362 1,250 Equity in earnings / (loss) of subsidiary 3,330 3,114 (9,263 ) Net cash provided by / (used in) operating activities — — — CASH FLOWS FROM INVESTING ACTIVITIES: Investment in subsidiary — — (136 ) Dividends received from subsidiary 3 86 69,734 Net cash provided by investing activities 3 86 69,598 CASH FLOWS FROM FINANCING ACTIVITIES: Dividends paid (34 ) (71 ) (69,682 ) Repurchase of common stock — (15 ) (52 ) Proceeds from the exercise of stock options 31 — 136 Net cash used in investing activities (3 ) (86 ) (69,598 ) NET CHANGE IN CASH AND CASH EQUIVALENTS — — — CASH AND CASH EQUIVALENTS, Beginning of period — — — CASH AND CASH EQUIVALENTS, End of period $ — $ — $ — |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended |
Jan. 30, 2016 | |
Valuation and Qualifying Accounts [Abstract] | |
Schedule II - Valuation and Qualifying Accounts | GORDMANS STORES, INC. AND SUBSIDIARIES Schedule II – Valuation and Qualifying Accounts (in 000’s) Reserve for Sales Returns Beginning Amount Sales End of Year Ended January 30, 2016 $ 204 $ 39,381 $ (39,383 ) $ 202 Year Ended January 31, 2015 170 39,079 (39,045 ) 204 Year Ended February 1, 2014 195 39,948 (39,973 ) 170 Allowance for Doubtful Accounts Beginning Amount Write-off of End of Year Ended January 30, 2016 $ 125 $ 23 $ (82 ) $ 66 Year Ended January 31, 2015 205 149 (229 ) 125 Year Ended February 1, 2014 137 135 (67 ) 205 |
Summary Of Significant Accoun25
Summary Of Significant Accounting Policies (Policies) | 12 Months Ended |
Jan. 30, 2016 | |
Accounting Policies [Abstract] | |
Business | Business |
Basis of Presentation | Basis of Presentation |
Reporting Year | Reporting Year |
Revenue Recognition | Revenue Recognition |
Cash Equivalents | Cash Equivalents |
Accounts Receivable | Accounts Receivable |
Landlord Receivable | Landlord Receivable |
Merchandise Inventories | Merchandise Inventories – |
Property and Equipment | Property and Equipment The Company has determined it is the accounting owner of certain leased store locations during the construction period of such assets pursuant to sale-leaseback accounting. In certain of the Company’s operating lease agreements for leased store locations, the Company is responsible for funding the construction of the structural store assets and the landlord reimburses the Company pursuant to the underlying lease agreement. The landlord maintains title of the real property, or structural assets, during the construction phase of a new store location or existing store remodel. During the construction period, the Company serves as the agent for the construction project and is obligated to fund cost overruns or may benefit if the cost of construction is less than the tenant improvement allowance. When construction payments are made by the Company, a fixed asset is recorded in construction-in-progress within property and equipment. The Company bears substantially all construction period risk for these new store construction projects and existing store remodels and the Company pays for the construction costs pursuant to a contractual arrangement that includes the right of reimbursement from the landlord. Accordingly, the Company reports the costs of construction as a purchase of property and equipment in “Purchase of property and equipment” and the reimbursements from landlords for structural assets as “Proceeds from sale-leaseback transactions” under cash flows from investing activities in the consolidated statements of cash flows. When construction is complete, the Company records a sale-leaseback transaction which represents the title transfer of the structural assets that are sold back to the landlord pursuant to sale-leaseback accounting. No gain or loss associated with the sale of such assets is recognized as the Company receives reimbursement from the landlord for the construction costs and leases are structured as operating leases. The sale-leaseback transaction is disclosed in “Supplemental Cash Flow Information” as a non-cash investing and financing activity. Such sale-leaseback transactions do not involve any future commitments, obligations, provisions or circumstances that require or result in the Company’s continuing involvement and the Company is no longer deemed the accounting owner of the landlord-owned assets once the store construction is completed and the sale-leaseback transaction is recorded. |
Long-Lived Assets | Long-Lived Assets |
Intangible Assets | Intangible Assets Finite-lived intangible assets are amortized using the straight-line method over their estimated useful lives and are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. Finite-lived intangible assets were fully amortized at the end of fiscal year 2015. No impairment was recorded during the fiscal years 2015, 2014 or 2013. |
Deferred Financing Fees | Deferred Financing Fees |
Operating Leases | Operating Leases Tenant improvement assets, as well as the corresponding tenant improvement allowances, are recorded when the amount of new store construction covered by the tenant improvement allowance exceeds the amount attributable to the landlord’s owned asset, generally the building shell. Tenant improvement assets, which generally represent non-structural improvements (i.e. furniture, fixtures and equipment) for which the Company receives reimbursement from the landlord, are depreciated over the initial life of the lease, prior to any lease extensions. For tenant improvement assets, as well as rent holidays, the Company records a corresponding deferred rent liability in “Deferred Rent” on the consolidated balance sheets and amortizes the deferred rent over the initial term of the lease as a reduction to rent expense on the consolidated statements of operations. The Company’s store leases generally contain escalating rent payments over the initial term of the lease, however the Company accounts for the lease expense on a straight-line basis over that period. The straight-line rent expense is calculated at the inception of the lease, which entails recording a monthly liability for the difference between rent paid to the landlord and straight-line rent expense as calculated at the beginning of the lease, excluding renewal options. Over the life of the lease, this deferred rent liability is amortized as rent paid to the landlord eventually exceeds the calculated straight-line amount. Certain leases provide for contingent rents, which are determined as a percentage of gross sales in excess of specified levels. The Company records a contingent rent liability in “Accrued Expenses” on the consolidated balance sheets and the corresponding rent expense when specified levels have been achieved or when management determines that achieving the specified levels during the fiscal year is probable. |
Loyalty Program | Loyalty Program |
Self-Insurance | Self-Insurance |
Share-Based Compensation | Share-Based Compensation |
Cost of Sales | Cost of Sales |
Selling, General and Administrative Expenses | Selling, General and Administrative Expenses |
Pre-opening and Closing Expenses | Pre-opening and Closing Expenses |
Advertising Expenses | Advertising Expenses |
Income Taxes | Income Taxes A valuation allowance is provided to adjust deferred taxes to the amount that is more likely than not to be realized when management cannot conclude that it is more likely than not that a tax benefit will be realized. In determining the need for a valuation allowance, the Company considers many factors, including taxable income in carry-back periods, historical and forecasted earnings, future taxable income, and the mix of earnings in the jurisdictions in which we operate the reversal of deferred tax liabilities and tax planning strategies. Uncertain tax positions are evaluated in a two-step process. The Company first determines whether it is more likely than not that a tax position will be sustained upon examination. If a tax position meets the more-likely-than-not recognition threshold, it is then measured to determine the amount of benefit to recognize in the consolidated financial statements. The tax position is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. The evaluation of uncertain tax positions requires numerous estimates based on available information. The Company considers many factors when evaluating and estimating their tax positions and tax benefits. Interest expense and penalties, if any, are accrued on the unrecognized tax benefits and reflected in “Interest expense, net” and “Selling, general and administrative expenses”, respectively. |
Loss Per Share | Loss Per Share |
Financial Instruments | Financial Instruments |
Concentration of Credit Risk | Concentration of Credit Risk |
Use of Accounting Estimates | Use of Accounting Estimates |
Comprehensive Income | Comprehensive Income |
Segment Reporting | Segment Reporting The following information reflects the percentage of revenues by major product category as a percentage of net sales: Year Year Year Apparel 56.6 % 56.8 % 56.1 % Home 27.8 27.7 27.9 Accessories (including fragrances) 15.6 15.5 16.0 Total 100.0 % 100.0 % 100.0 % |
Public Offering | Public Offering |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements Revenue from Contracts with Customers Revenue from Contracts with Customers, Deferral of the Effective Date In April 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements In November 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes In February 2016, the FASB issued ASU No. 2016-02, Leases |
Supplemental Cash Flow Information | Supplemental Cash Flow Information Year Year Year Non-cash investing and financing activities: Purchases of property and equipment in accrued expenses at the end of the period $ 2,437 $ 3,877 $ 5,923 Sales of property and equipment pursuant to sale-leaseback accounting 8,614 7,100 10,352 Dividends declared but not yet paid 47 97 248 Dividends payable forfeited on unvested restricted stock 14 82 — Purchases of equipment with capital lease commitments and financing arrangements — 872 — Other cash flow information: Cash paid for interest 3,096 4,373 1,991 Cash paid (received) for income taxes, net (8,584 ) (3,505 ) 6,672 Sales of property and equipment pursuant to sale-leaseback accounting represents the amount of structural assets sold to the landlord at the completion of construction for which the Company was deemed the owner during the construction period, pursuant to sale-leaseback accounting, and for which no cash was received upon transfer of ownership. |
Summary Of Significant Accoun26
Summary Of Significant Accounting Policies (Tables) | 12 Months Ended |
Jan. 30, 2016 | |
Accounting Policies [Abstract] | |
Percentage of Revenues by Major Merchandising Category | The following information reflects the percentage of revenues by major product category as a percentage of net sales: Year Year Year Apparel 56.6 % 56.8 % 56.1 % Home 27.8 27.7 27.9 Accessories (including fragrances) 15.6 15.5 16.0 Total 100.0 % 100.0 % 100.0 % |
Non-Cash Investing Activities and Other Cash Flow Information | The following table sets forth non-cash investing and financing activities and other cash flow information: Year Year Year Non-cash investing and financing activities: Purchases of property and equipment in accrued expenses at the end of the period $ 2,437 $ 3,877 $ 5,923 Sales of property and equipment pursuant to sale-leaseback accounting 8,614 7,100 10,352 Dividends declared but not yet paid 47 97 248 Dividends payable forfeited on unvested restricted stock 14 82 — Purchases of equipment with capital lease commitments and financing arrangements — 872 — Other cash flow information: Cash paid for interest 3,096 4,373 1,991 Cash paid (received) for income taxes, net (8,584 ) (3,505 ) 6,672 |
Prepaid Expenses and Other Cu27
Prepaid Expenses and Other Current Assets (Tables) | 12 Months Ended |
Jan. 30, 2016 | |
Text Block [Abstract] | |
Prepaid Expenses and Other Current Assets | Prepaid expenses and other current assets consist of the following: January 30, January 31, Prepaid rent – real estate $ 4,555 $ 4,572 Other prepaid expenses and current assets 3,541 3,963 $ 8,096 $ 8,535 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Jan. 30, 2016 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment | Property and equipment consist of the following: January 30, January 31, Leasehold improvements $14,034 $ 12,098 Furniture, fixtures and equipment 89,481 81,199 Computer software 28,606 24,496 Capitalized leases 2,402 2,402 Construction in progress 4,320 7,731 138,843 127,926 Less accumulated depreciation and amortization (52,468 ) (36,325 ) $86,375 $ 91,601 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Jan. 30, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets | Intangible assets consist of the following: January 30, 2016 January 31, 2015 Useful Gross Accumulated Gross Accumulated Amortized intangible assets: Footwear license fee agreement 6.3 years $ 522 $ (522 ) $ 522 $ (522 ) Maternity license fee agreement 2.4 years 24 (24 ) 24 (24 ) Favorable lease rights, net 6.0 years 24 (24 ) 24 (24 ) 570 (570 ) 570 (570 ) Intangible assets not subject to amortization: Trade name 1,820 N/A 1,820 N/A Total $ 2,390 $ (570 ) $ 2,390 $ (570 ) |
Accrued Expenses (Tables)
Accrued Expenses (Tables) | 12 Months Ended |
Jan. 30, 2016 | |
Payables and Accruals [Abstract] | |
Accrued Expenses | Accrued expenses consist of the following: January 30, January 31, Store, distribution center and corporate accruals $ 17,885 $ 19,274 Associate compensation 3,502 3,186 Gift card and certificate liability 3,892 3,743 Accrued real estate taxes 1,541 2,080 Other taxes accrued 1,891 1,851 Self-insurance claims liabilities 1,189 1,165 Interest 251 54 $ 30,151 $ 31,353 |
Deferred Rent (Tables)
Deferred Rent (Tables) | 12 Months Ended |
Jan. 30, 2016 | |
Text Block [Abstract] | |
Deferred Rent | Deferred rent consists of the following: January 30, January 31, Tenant improvement allowances $ 23,228 $ 25,249 Straight-line rent expense 10,294 10,132 $ 33,522 $ 35,381 |
Debt Obligations (Tables)
Debt Obligations (Tables) | 12 Months Ended |
Jan. 30, 2016 | |
Debt Disclosure [Abstract] | |
Long-Term Debt | Long-term Debt January 30, January 31, Revolving line of credit facility $ 17,000 $ 11,034 Term loan 29,160 29,437 Capital lease obligations 655 819 Total long-term debt 46,815 41,290 Less current portion of long-term debt (18,850 ) (12,463 ) Long-term debt, less current portion $ 27,965 $ 28,827 |
Annual Maturities of Long-term Debt | At January 30, 2016, annual maturities of long-term debt during the next five fiscal years and were as follows: 2016 $ 1,850 2017 1,856 2018 1,863 2019 1,806 2020 39,440 Total long-term debt $ 46,815 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Jan. 30, 2016 | |
Leases [Abstract] | |
Future Minimum Lease Payments by Fiscal Year Under Operating Leases and Future Obligations Under Non-cancelable Capital Leases by Fiscal Year | Future minimum lease payments, by fiscal year, under operating leases and future obligations under non-cancelable capital leases, by fiscal year, as of January 30, 2016 are as follows: Operating Capital 2016 $ 56,740 $ 192 2017 55,871 192 2018 51,494 192 2019 46,682 126 2020 40,803 — After 2020 113,100 — Total minimum lease payments $ 364,690 702 Less: capital lease amount representing interest (47 ) Present value of minimum lease payments 655 Less: current maturities of capital lease obligations (170 ) Noncurrent maturities of capital lease obligations $ 485 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Jan. 30, 2016 | |
Income Tax Disclosure [Abstract] | |
Summary of Income Tax Expense (Benefit) | Income tax expense (benefit) consists of the following: Year Year Year Current: Federal $ (2,894 ) $ (8,188 ) $ 3,678 State 59 3 501 (2,835 ) (8,185 ) 4,179 Deferred: Federal 111 5,732 93 State (50 ) — 26 61 5,732 119 Total $ (2,774 ) $ (2,453 ) $ 4,298 |
Deferred Income Tax Assets and Liabilities | The tax effects of significant items comprising the Company’s deferred income tax assets and liabilities as of January 30, 2016 and January 31, 2015 are as follows: January 30, January 31, Deferred income tax assets: Leases $ 3,912 $ 3,850 Merchandise inventories 2,797 1,681 Accrued compensation 1,208 1,170 Alternative minimum tax credit 427 56 Prepaid expenses and other assets 414 344 State net operating loss carryforwards 386 231 Federal tax credit carryforwards 350 — Accrued expenses 322 332 Gift cards and certificates 208 154 10,024 7,818 Deferred income tax liabilities: Property and equipment (13,323 ) (13,019 ) Software (9,062 ) (6,848 ) Intangibles (692 ) (692 ) (23,077 ) (20,559 ) Net deferred income tax liability (13,053 ) (12,741 ) Less: Current deferred income tax asset (5,077 ) (2,895 ) Long-term deferred income tax liability $ (18,130 ) $ (15,636 ) |
Summary of Reconciliation of Income Tax Computed at U.S. Statutory Rate to Effective Income Tax Rate | The reconciliation of income tax computed at the U.S. statutory rate to the effective income tax rate is as follows: Year Year Year U.S. Federal statutory tax rate 35.0 % 35.0 % 35.0 % State income tax expense, net of federal tax effect 0.1 0.1 3.0 Federal tax credits 6.6 11.4 (2.4 ) Nondeductible expenses (2.1 ) (3.4 ) 0.7 Other (0.6 ) (1.7 ) (1.4 ) Total income tax rate 39.0 % 41.4 % 34.9 % |
Earnings (Loss) Per Share (Tabl
Earnings (Loss) Per Share (Tables) | 12 Months Ended |
Jan. 30, 2016 | |
Earnings Per Share [Abstract] | |
Reconciliation of Outstanding Shares Utilized in Computation of Earnings (Loss) Per Common Share | The following is a reconciliation of the outstanding shares utilized in the computation of earnings (loss) per common share: Year Year Year Basic weighted average shares outstanding 19,406,921 19,360,478 19,288,623 Dilutive effect of non-vested stock and stock options — — 56,685 Diluted weighted average shares outstanding 19,406,921 19,360,478 19,345,308 |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 12 Months Ended |
Jan. 30, 2016 | |
Summary of Restricted Stock Activity | A summary of restricted stock activity during fiscal year 2015 is set forth in the table below: Shares of Weighted Non-vested, January 31, 2015 209,770 $ 6.21 Granted 150,250 5.66 Forfeited (50,450 ) 5.87 Vested (55,340 ) 6.39 Non-vested, January 30, 2016 254,230 $ 5.91 |
Summary of Performance Share Activity | A summary of performance share activity during fiscal year 2015 is set forth in the table below: Number Non-vested, January 31, 2015 — Granted 103,900 Forfeited (14,300 ) Non-vested, January 30, 2016 89,600 |
Summary of Stock Option Activity | A summary of stock option activity during fiscal year 2015 is set forth in the table below: Number Weighted Weighted Aggregate (1) Outstanding, January 31, 2015 1,326,143 $ 7.50 Granted 703,000 5.64 Exercised (5,825 ) 5.22 Forfeited (324,780 ) 7.17 Outstanding, January 30, 2016 1,698,538 6.90 8.1 $ — Exercisable, January 30, 2016 505,103 9.79 6.7 — Exercisable or expected to vest as of January 30, 2016 1,346,206 7.12 8.1 — (1) The aggregate intrinsic value for stock options is the difference between the current market value of the Company’s stock as of January 30, 2016 and the option strike price. The stock price at January 30, 2016 was $2.51, which was below the weighted average exercise price for options outstanding, exercisable, and vested or expected to vest at January 30, 2016. |
Summary of Stock Options Outstanding and Exercisable | The stock options outstanding and exercisable as of January 30, 2016 were in the following exercise price ranges: Options Outstanding Options Exercisable Exercise Price Number Weighted Weighted Number Weighted $2.63 to $5.49 661,025 $ 3.82 5.7 141,206 $ 3.80 $5.86 to $11.02 711,313 6.56 8.6 118,137 8.57 $13.04 to $16.11 326,200 13.91 5.9 245,760 13.82 1,698,538 6.90 7.0 505,103 9.79 |
Summary of Non-vested Outstanding Stock Options | The following table summarizes information regarding non-vested outstanding stock options for fiscal year 2014: Number Weighted Non-vested at January 31, 2015 867,092 $ 5.34 Granted 703,000 5.64 Vested (270,279 ) 7.52 Forfeited (324,780 ) 7.17 Non-vested at January 30, 2016 975,033 4.34 |
Performance Shares [Member] | Monte Carlo Valuation Model [Member] | |
Weighted Average Assumptions Used in Applying Valuation Model for Option Grants | The weighted average assumptions used by the Company in applying the Monte Carlo valuation model for option grants during fiscal year 2015 are illustrated in the following table: Year Risk-free interest rate 0.9 % Dividend yield 0.0 % Expected volatility 51.0 % |
Employee Stock Options [Member] | Black-Scholes Valuation Model [Member] | |
Weighted Average Assumptions Used in Applying Valuation Model for Option Grants | The weighted average assumptions used by the Company in applying the Black-Scholes valuation model for option grants during fiscal years 2015, 2014 and 2013 are illustrated in the following table: Year Year Year Risk-free interest rate 1.7 to 2.0% 2.0% 1.25 to 2.00% Dividend yield 2.0% 2.0% 2.0% Expected volatility 39.0% - 40.0% 36.0% - 40.0% 35.0% - 36.0% Expected life (years) 6.25 6.25 6.25 Weighted average fair value of options granted $1.85 $1.31 $3.43 |
Selected Quarterly Financial 37
Selected Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended |
Jan. 30, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information | The following table sets forth unaudited selected financial information in each quarter for fiscal years 2015 and 2014, respectively: Fiscal 2015 First Second Third Fourth Net sales $ 145,940 $ 143,434 $ 153,856 $ 205,737 Gross profit 64,968 62,827 68,352 78,263 Net income / (loss) 374 (3,031 ) (2,763 ) 1,082 Basic earnings / (loss) per share (1) 0.02 (0.16 ) (0.14 ) 0.06 Diluted earnings / (loss) per share (1) 0.02 (0.16 ) (0.14 ) 0.06 Fiscal 2014 First Second Third Fourth Net sales $ 143,022 $ 141,039 $ 146,653 $ 203,906 Gross profit 63,374 59,730 64,412 76,829 Net income / (loss) (732 ) (3,189 ) (1,851 ) 2,296 Basic earnings / (loss) per share (1) (0.04 ) (0.16 ) (0.10 ) 0.12 Diluted earnings / (loss) per share (1) (0.04 ) (0.16 ) (0.10 ) 0.12 (1) Basic and diluted shares outstanding are computed independently for each quarter presented, and therefore, may not sum to the totals for the year. |
Summary of Significant Accoun38
Summary of Significant Accounting Policies - Additional Information (Detail) | May. 25, 2012shares | May. 30, 2012USD ($) | Jan. 30, 2016USD ($)StoreStateSegment | Jan. 31, 2015USD ($) | Feb. 01, 2014USD ($) | May. 08, 2012shares |
Significant Accounting Policies [Line Items] | ||||||
Number of everyday value price department stores | Store | 102 | |||||
Number of states in which department stores are located | State | 22 | |||||
Gift card and certificate liability | $ 3,892,000 | $ 3,743,000 | ||||
Total gift card breakage | 300,000 | 200,000 | $ 200,000 | |||
Sales return reserve | $ 200,000 | 200,000 | ||||
Maximum maturity period of highly liquid assets | 3 months | |||||
Allowance for uncollectible accounts | $ 100,000 | 100,000 | ||||
Landlord receivable for structural improvements | 2,400,000 | 1,100,000 | ||||
Inventory reserve for obsolescence | 1,400,000 | 800,000 | ||||
Impairment of long lived assets | 0 | 0 | 0 | |||
Impairment of finite lived intangible assets | 0 | 0 | 0 | |||
Deferred financing fees | $ 1,100,000 | 2,400,000 | ||||
Loyalty program rewards redemption period | 60 days | |||||
Liability program include in accrued expenses | $ 800,000 | 700,000 | ||||
Self-insurance exposure for health claims | 150,000 | |||||
Self-insurance exposure for workers' compensation claims | 250,000 | |||||
Self-insurance exposure for general liability claims | 25,000 | |||||
Estimated self-insurance claims liabilities | 1,189,000 | 1,165,000 | ||||
Warehousing and distribution costs including on-line shipping costs | $ 27,700,000 | 27,800,000 | 23,200,000 | |||
Number of stores closed | Store | 1 | |||||
Pre-opening costs | $ 2,300,000 | 3,600,000 | 3,900,000 | |||
Number of stores opened | Store | 6 | |||||
Advertising costs | $ 19,300,000 | 18,100,000 | $ 18,400,000 | |||
Fair value of long-term debt | 46,800,000 | 41,300,000 | ||||
Cash equivalents in excess of insured amounts | $ 5,100,000 | $ 5,500,000 | ||||
Number of reportable segments | Segment | 1 | |||||
Common stock available for issuance | shares | 200,000 | |||||
Common stock available for sale by selling stockholders | shares | 13,345,943 | |||||
Common stock issued pursuant to secondary offering | shares | 40,000 | |||||
Common stock sold by selling stockholders | shares | 3,460,061 | |||||
Proceeds from public offering | $ 600,000 | |||||
Transaction costs associated with stock offering | $ 500,000 | |||||
Maximum [Member] | ||||||
Significant Accounting Policies [Line Items] | ||||||
Settlement period for credit card and debit card receivables from banks | 5 days | |||||
Maximum [Member] | Leasehold Improvements [Member] | ||||||
Significant Accounting Policies [Line Items] | ||||||
Property, plant and equipment, useful life | 10 years | |||||
Maximum [Member] | Furniture, Fixtures and Equipment [Member] | ||||||
Significant Accounting Policies [Line Items] | ||||||
Property, plant and equipment, useful life | 10 years | |||||
Maximum [Member] | Computer Software [Member] | ||||||
Significant Accounting Policies [Line Items] | ||||||
Property, plant and equipment, useful life | 10 years | |||||
Maximum [Member] | Internal Use Software [Member] | ||||||
Significant Accounting Policies [Line Items] | ||||||
Property, plant and equipment, useful life | 10 years | |||||
Maximum [Member] | Equipment Leased to Other Party [Member] | ||||||
Significant Accounting Policies [Line Items] | ||||||
Property, plant and equipment, useful life | 5 years | |||||
Minimum [Member] | ||||||
Significant Accounting Policies [Line Items] | ||||||
Settlement period for credit card and debit card receivables from banks | 1 day | |||||
Minimum [Member] | Leasehold Improvements [Member] | ||||||
Significant Accounting Policies [Line Items] | ||||||
Property, plant and equipment, useful life | 1 year | |||||
Minimum [Member] | Furniture, Fixtures and Equipment [Member] | ||||||
Significant Accounting Policies [Line Items] | ||||||
Property, plant and equipment, useful life | 3 years | |||||
Minimum [Member] | Computer Software [Member] | ||||||
Significant Accounting Policies [Line Items] | ||||||
Property, plant and equipment, useful life | 3 years | |||||
Minimum [Member] | Internal Use Software [Member] | ||||||
Significant Accounting Policies [Line Items] | ||||||
Property, plant and equipment, useful life | 3 years | |||||
Minimum [Member] | Equipment Leased to Other Party [Member] | ||||||
Significant Accounting Policies [Line Items] | ||||||
Property, plant and equipment, useful life | 3 years |
Summary of Significant Accoun39
Summary of Significant Accounting Policies - Percentage of Revenues by Major Merchandising Category (Detail) - Revenues [Member] - Product Concentration Risk [Member] | 12 Months Ended | ||
Jan. 30, 2016 | Jan. 31, 2015 | Feb. 01, 2014 | |
Product Information [Line Items] | |||
Percentage of revenues | 100.00% | 100.00% | 100.00% |
Apparel [Member] | |||
Product Information [Line Items] | |||
Percentage of revenues | 56.60% | 56.80% | 56.10% |
Home [Member] | |||
Product Information [Line Items] | |||
Percentage of revenues | 27.80% | 27.70% | 27.90% |
Accessories (Including Fragrances) [Member] | |||
Product Information [Line Items] | |||
Percentage of revenues | 15.60% | 15.50% | 16.00% |
Summary of Significant Accoun40
Summary of Significant Accounting Policies - Non-Cash Investing and Financing Activities and Other Cash Flow Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 30, 2016 | Jan. 31, 2015 | Feb. 01, 2014 | |
Non-cash investing and financing activities: | |||
Purchases of property and equipment in accrued expenses at the end of the period | $ 2,437 | $ 3,877 | $ 5,923 |
Sales of property and equipment pursuant to sale-leaseback accounting | 8,614 | 7,100 | 10,352 |
Dividends declared but not yet paid | 47 | 97 | 248 |
Dividends payable forfeited on unvested restricted stock | 14 | 82 | |
Purchases of equipment with capital lease commitments and financing arrangements | 872 | ||
Other cash flow information: | |||
Cash paid for interest | 3,096 | 4,373 | 1,991 |
Cash paid (received) for income taxes, net | $ (8,584) | $ (3,505) | $ 6,672 |
Prepaid Expenses and Other Cu41
Prepaid Expenses and Other Current Assets - Prepaid Expenses and Other Current Assets (Detail) - USD ($) $ in Thousands | Jan. 30, 2016 | Jan. 31, 2015 |
Prepaid Expense and Other Assets, Current [Abstract] | ||
Prepaid rent - real estate | $ 4,555 | $ 4,572 |
Other prepaid expenses and current assets | 3,541 | 3,963 |
Prepaid expenses and other current assets | $ 8,096 | $ 8,535 |
Property and Equipment - Proper
Property and Equipment - Property and Equipment (Detail) - USD ($) $ in Thousands | Jan. 30, 2016 | Jan. 31, 2015 |
Property, Plant and Equipment [Line Items] | ||
Property and equipment, Gross | $ 138,843 | $ 127,926 |
Less accumulated depreciation and amortization | (52,468) | (36,325) |
Property and equipment, Net | 86,375 | 91,601 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, Gross | 14,034 | 12,098 |
Furniture, Fixtures and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, Gross | 89,481 | 81,199 |
Computer Software [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, Gross | 28,606 | 24,496 |
Capitalized Leases [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, Gross | 2,402 | 2,402 |
Construction in Progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, Gross | $ 4,320 | $ 7,731 |
Property and Equipment - Additi
Property and Equipment - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 30, 2016 | Jan. 31, 2015 | Feb. 01, 2014 | |
Depreciation, Depletion and Amortization [Abstract] | |||
Depreciation and amortization expense | $ 16,712 | $ 13,698 | $ 9,841 |
Accumulated amortization on capital leases | $ 1,900 | $ 1,700 |
Intangible Assets - Intangible
Intangible Assets - Intangible Assets Excluding Goodwill (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 30, 2016 | Jan. 31, 2015 | |
Intangible Asset Excluding Goodwill [Line Items] | ||
Total amortized intangible assets | $ 570 | $ 570 |
Trade name | 1,820 | 1,820 |
Total | 2,390 | 2,390 |
Accumulated Amortization | $ (570) | (570) |
Footwear License Fee Agreement [Member] | ||
Intangible Asset Excluding Goodwill [Line Items] | ||
Useful Life | 6 years 3 months 18 days | |
Total amortized intangible assets | $ 522 | 522 |
Accumulated Amortization | $ (522) | (522) |
Maternity License Fee Agreement [Member] | ||
Intangible Asset Excluding Goodwill [Line Items] | ||
Useful Life | 2 years 4 months 24 days | |
Total amortized intangible assets | $ 24 | 24 |
Accumulated Amortization | $ (24) | (24) |
Favorable Lease Rights, Net [Member] | ||
Intangible Asset Excluding Goodwill [Line Items] | ||
Useful Life | 6 years | |
Total amortized intangible assets | $ 24 | 24 |
Accumulated Amortization | $ (24) | $ (24) |
Intangible Assets - Additional
Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Jan. 31, 2015 | Feb. 01, 2014 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Amortization expense on intangible assets | $ 0.1 | $ 0.1 |
Accrued Expenses - Accrued Expe
Accrued Expenses - Accrued Expenses (Detail) - USD ($) $ in Thousands | Jan. 30, 2016 | Jan. 31, 2015 |
Payables and Accruals [Abstract] | ||
Store, distribution center and corporate accruals | $ 17,885 | $ 19,274 |
Associate compensation | 3,502 | 3,186 |
Gift card and certificate liability | 3,892 | 3,743 |
Accrued real estate taxes | 1,541 | 2,080 |
Other taxes accrued | 1,891 | 1,851 |
Self-insurance claims liabilities | 1,189 | 1,165 |
Interest | 251 | 54 |
Accrued expenses | $ 30,151 | $ 31,353 |
Deferred Rent - Deferred Rent (
Deferred Rent - Deferred Rent (Detail) - USD ($) $ in Thousands | Jan. 30, 2016 | Jan. 31, 2015 |
Deferred Revenue Disclosure [Abstract] | ||
Tenant improvement allowances | $ 23,228 | $ 25,249 |
Straight-line rent expense | 10,294 | 10,132 |
Deferred rent | $ 33,522 | $ 35,381 |
Debt Obligations - Revolving Li
Debt Obligations - Revolving Line of Credit Facility - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Jan. 30, 2016 | Jan. 31, 2015 | |
Revolving Line of Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Revolving line of credit facility, maximum borrowing capacity | $ 80,000,000 | |
Origination date of revolving line of credit facility | Feb. 20, 2009 | |
Amendment date of revolving line of credit facility | Jun. 29, 2015 | |
Revolving line of credit facility, expiration date | Jun. 28, 2020 | |
Additional revolving line of credit facility | $ 20,000,000 | |
Average borrowings during the period | $ 19,600,000 | $ 9,500,000 |
Interest rate description | (1) for base rate advances, borrowings bear interest at the prime rate plus 1.00% when average excess availability is less than or equal to $40.0 million and the prime rate plus 0.75% when average excess availability is greater than $40.0 million, and (2) for LIBOR rate advances, borrowings bear interest at the LIBOR rate plus 2.00% when average excess availability is less than or equal to $40.0 million and the LIBOR rate plus 1.75% when average excess availability is greater than $40.0 million. | |
Threshold amount of excess availability in order to determine interest rate | $ 40,000,000 | |
Minimum amount of excess availability of borrowing to be maintained | 20,000,000 | |
Availability under revolving line of credit facility | $ 56,300,000 | $ 44,100,000 |
Line of credit facility, interest rate | 4.25% | 3.75% |
Outstanding letters of credit included in the borrowing base | $ 6,700,000 | $ 7,000,000 |
Unused line fee | 0.25% | |
Revolving Line of Credit Facility [Member] | Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Unrestricted cash included in excess availability limit threshold | $ 3,000,000 | |
Revolving Line of Credit Facility [Member] | Prime Rate [Member] | Less Than or Equal to Threshold [Member] | ||
Debt Instrument [Line Items] | ||
Basis spread on variable interest rate | 1.00% | |
Description of variable rate basis | Prime rate plus 1.00% | |
Revolving Line of Credit Facility [Member] | Prime Rate [Member] | Above Threshold [Member] | ||
Debt Instrument [Line Items] | ||
Basis spread on variable interest rate | 0.75% | |
Description of variable rate basis | Prime rate plus 0.75% | |
Revolving Line of Credit Facility [Member] | LIBOR Rate [Member] | Less Than or Equal to Threshold [Member] | ||
Debt Instrument [Line Items] | ||
Basis spread on variable interest rate | 2.00% | |
Description of variable rate basis | LIBOR rate plus 2.00% | |
Revolving Line of Credit Facility [Member] | LIBOR Rate [Member] | Above Threshold [Member] | ||
Debt Instrument [Line Items] | ||
Basis spread on variable interest rate | 1.75% | |
Description of variable rate basis | LIBOR rate plus 1.75% | |
Secured Term Loan [Member] | ||
Debt Instrument [Line Items] | ||
Revolving line of credit facility, maximum borrowing capacity | $ 30,000,000 | |
Revolving line of credit facility, expiration date | Aug. 27, 2018 | |
Early termination fee percentage | 1.00% | |
Line of credit extended, expiration date | Jun. 28, 2020 | |
Basis spread on variable interest rate | 0.75% | |
Increase in advanced rate | 5.00% |
Debt Obligations - Senior Term
Debt Obligations - Senior Term Loan - Additional Information (Detail) | Aug. 26, 2013USD ($) | Jan. 30, 2016USD ($) | Jan. 31, 2015USD ($)Arrangements | Feb. 01, 2014USD ($) |
Debt Instrument [Line Items] | ||||
Special cash dividend | $ 69,930,000 | $ 69,930,000 | ||
Proceeds from secured term loan facility | $ 30,000,000 | 45,000,000 | ||
Write-off of deferred financing fees related to extinguishment of debt | 1,722,000 | |||
Repurchases of stock of employees | $ 15,000 | 52,000 | ||
Projected excess availability | $ 35,000,000 | |||
Percentage of loan cap | 30.00% | |||
Debt payments | $ 30,441,000 | 15,603,000 | $ 189,000 | |
Financing Arrangement One [Member] | ||||
Debt Instrument [Line Items] | ||||
Frequency of payments | Monthly | |||
Debt payments | $ 7,000 | |||
Fixed interest | 3.75% | |||
Financing Arrangement Two [Member] | ||||
Debt Instrument [Line Items] | ||||
Frequency of payments | Monthly | |||
Debt payments | $ 9,000 | |||
Fixed interest | 3.75% | |||
Minimum [Member] | ||||
Debt Instrument [Line Items] | ||||
Fixed charge coverage ratio | 1 | |||
Senior Loans [Member] | ||||
Debt Instrument [Line Items] | ||||
Senior term loan amount | $ 45,000,000 | |||
Special cash dividend | $ 69,930,000 | |||
Senior term loan issuance date | Aug. 27, 2013 | |||
Proceeds from secured term loan facility | $ 30,000,000 | |||
Effective interest rate during period for loan | 9.50% | |||
Cerberus Senior Term Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Term loan , prepayment premium | 1.00% | |||
Write-off of deferred financing fees related to extinguishment of debt | $ 1,700,000 | |||
Prepayment penalty | $ 300,000 | |||
Frequency of payments | Quarterly | |||
Cerberus Senior Term Loan [Member] | October 2014 Through October 2015 [Member] | ||||
Debt Instrument [Line Items] | ||||
Periodic principal payment required | $ 300,000 | |||
Senior term loan date of first required payment | Oct. 1, 2014 | |||
Cerberus Senior Term Loan [Member] | January 2016 Through August 27, 2018 [Member] | ||||
Debt Instrument [Line Items] | ||||
Periodic principal payment required | $ 400,000 | |||
Senior term loan date of first required payment | Jan. 1, 2016 | |||
Term Loan Facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Periodic principal payment required | $ 400,000 | |||
Maturity date of term loan facility | Jun. 28, 2020 | |||
Description of variable rate basis | LIBOR rate plus 6.25% | |||
Basis spread on variable interest rate | 6.25% | |||
Interest rate floor | 1.00% | |||
Effective interest rate during period for loan | 7.25% | |||
Term Loan Facility [Member] | First Year [Member] | ||||
Debt Instrument [Line Items] | ||||
Term loan , prepayment premium | 3.00% | |||
Term Loan Facility [Member] | Second Year [Member] | ||||
Debt Instrument [Line Items] | ||||
Term loan , prepayment premium | 1.50% | |||
Term Loan Facility [Member] | Third Year [Member] | ||||
Debt Instrument [Line Items] | ||||
Term loan , prepayment premium | 0.50% | |||
Term Loan Facility [Member] | Thereafter [Member] | ||||
Debt Instrument [Line Items] | ||||
Term loan , prepayment premium | 0.00% | |||
Revolving Line of Credit Facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Borrowings outstanding under revolving line of credit facility | $ 17,000,000 | $ 11,000,000 | ||
Revolving Line of Credit Facility [Member] | Maximum [Member] | ||||
Debt Instrument [Line Items] | ||||
Repurchases of stock of employees | 500,000 | |||
Term Loan [Member] | ||||
Debt Instrument [Line Items] | ||||
Secured term loan fair value | 30,000,000 | |||
Maximum Indebtedness | $ 10,000,000 | |||
Term Notes Payable [Member] | ||||
Debt Instrument [Line Items] | ||||
Number of capital lease arrangements | Arrangements | 2 |
Debt Obligations - Long-Term De
Debt Obligations - Long-Term Debt (Detail) - USD ($) $ in Thousands | Jan. 30, 2016 | Jan. 31, 2015 |
Debt Instrument [Line Items] | ||
Total long-term debt | $ 46,815 | $ 41,290 |
Less current portion of long-term debt | (18,850) | (12,463) |
Long-term debt, less current portion | 27,965 | 28,827 |
Revolving Line of Credit Facility [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | 17,000 | 11,034 |
Term Loan [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | 29,160 | 29,437 |
Capital Lease Obligations [Member] | ||
Debt Instrument [Line Items] | ||
Total long-term debt | $ 655 | $ 819 |
Debt Obligations - Annual Matur
Debt Obligations - Annual Maturities of Long-Term Debt (Detail) - USD ($) $ in Thousands | Jan. 30, 2016 | Jan. 31, 2015 |
Long-term Debt and Capital Lease Obligations, Including Current Maturities [Abstract] | ||
2,016 | $ 1,850 | |
2,017 | 1,856 | |
2,018 | 1,863 | |
2,019 | 1,806 | |
2,020 | 39,440 | |
Total long-term debt | $ 46,815 | $ 41,290 |
Leases - Additional Information
Leases - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Jan. 30, 2016 | Jan. 31, 2015 | |
Operating Leased Assets [Line Items] | ||
Capital lease description | Company entered into capital lease arrangements for computer hardware and related software with a lease term of 5 years. | |
Total rental expense related to all operating leases | $ 55.7 | $ 54.9 |
Contingent rent included in total rental expense | $ 0.2 | $ 0.2 |
Retail Site [Member] | ||
Operating Leased Assets [Line Items] | ||
Leases expiration date | Dec. 31, 2029 | |
Base lease term | 10 years | |
Lease renewal period | 5 years | |
Second Primary Distribution Center and New Corporate Headquarters [Member] | ||
Operating Leased Assets [Line Items] | ||
Base lease term | 15 years | |
Computer Equipment [Member] | ||
Operating Leased Assets [Line Items] | ||
Capital leases, term | 5 years |
Leases - Future Minimum Lease P
Leases - Future Minimum Lease Payments by Fiscal Year Under Operating Leases and Future Obligations Under Non-cancelable Capital Leases by Fiscal Year (Detail) $ in Thousands | Jan. 30, 2016USD ($) |
Leases [Abstract] | |
Operating Leases, 2016 | $ 56,740 |
Operating Leases, 2017 | 55,871 |
Operating Leases, 2018 | 51,494 |
Operating Leases, 2019 | 46,682 |
Operating Leases, 2020 | 40,803 |
Operating Leases, After 2020 | 113,100 |
Operating Leases, Total minimum lease payments | 364,690 |
Capital Leases, 2016 | 192 |
Capital Leases, 2017 | 192 |
Capital Leases, 2018 | 192 |
Capital Leases, 2019 | 126 |
Capital Leases, 2020 | 0 |
Capital Leases, After 2020 | 0 |
Capital Leases, Total minimum lease payments | 702 |
Less: capital lease amount representing interest | (47) |
Present value of minimum lease payments | 655 |
Present value of minimum lease payments | 655 |
Less: current maturities of capital lease obligations | (170) |
Noncurrent maturities of capital lease obligations | $ 485 |
Income Taxes - Summary of Incom
Income Taxes - Summary of Income Tax Expense (Benefit) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 30, 2016 | Jan. 31, 2015 | Feb. 01, 2014 | |
Current: | |||
Federal | $ (2,894) | $ (8,188) | $ 3,678 |
State | 59 | 3 | 501 |
Current income tax | (2,835) | (8,185) | 4,179 |
Deferred: | |||
Federal | 111 | 5,732 | 93 |
State | (50) | 26 | |
Deferred income tax | 61 | 5,732 | 119 |
Total | $ (2,774) | $ (2,453) | $ 4,298 |
Income Taxes - Deferred Income
Income Taxes - Deferred Income Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Jan. 30, 2016 | Jan. 31, 2015 |
Deferred income tax assets: | ||
Leases | $ 3,912 | $ 3,850 |
Merchandise inventories | 2,797 | 1,681 |
Accrued compensation | 1,208 | 1,170 |
Alternative minimum tax credit | 427 | 56 |
Prepaid expenses and other assets | 414 | 344 |
State net operating loss carryforwards | 386 | 231 |
Federal tax credit carryforwards | 350 | |
Accrued expenses | 322 | 332 |
Gift cards and certificates | 208 | 154 |
Total deferred tax assets | 10,024 | 7,818 |
Deferred income tax liabilities: | ||
Property and equipment | (13,323) | (13,019) |
Software | (9,062) | (6,848) |
Intangibles | (692) | (692) |
Total deferred tax liabilities | (23,077) | (20,559) |
Net deferred income tax liability | (13,053) | (12,741) |
Less: Current deferred income tax asset | (5,077) | (2,895) |
Long-term deferred income tax liability | $ (18,130) | $ (15,636) |
Income Taxes - Summary of Recon
Income Taxes - Summary of Reconciliation of Income Tax Computed at U.S. Statutory Rate to Effective Income Tax Rate (Detail) | 12 Months Ended | ||
Jan. 30, 2016 | Jan. 31, 2015 | Feb. 01, 2014 | |
Income Tax Disclosure [Abstract] | |||
U.S. Federal statutory tax rate | 35.00% | 35.00% | 35.00% |
State income tax expense, net of federal tax effect | 0.10% | 0.10% | 3.00% |
Federal tax credits | 6.60% | 11.40% | (2.40%) |
Nondeductible expenses | (2.10%) | (3.40%) | 0.70% |
Other | (0.60%) | (1.70%) | (1.40%) |
Total income tax rate | 39.00% | 41.40% | 34.90% |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Jan. 30, 2016 | Jan. 31, 2015 | |
Tax Credit Carryforward [Line Items] | ||
Unrecognized tax benefits | $ 0 | $ 0 |
Number of tax periods subject to audit | 4 years | |
Change in reserves for unrecognized tax benefits | $ 0 | |
State and Local Jurisdiction [Member] | ||
Tax Credit Carryforward [Line Items] | ||
State net operating loss carryovers | $ 12,700,000 | |
State net operating loss carryovers expiration year start | 2,021 | |
State net operating loss carryovers expiration year end | 2,035 |
Employee Benefits - Additional
Employee Benefits - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Jan. 30, 2016 | Jan. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Percentage of matching contribution equal to associate deferrals | 50.00% | 50.00% |
Maximum percentage match by employer | 4.00% | 4.00% |
Company contribution in 401(k) savings plan | $ 0.4 | $ 0.4 |
Earnings (Loss) Per Share - Rec
Earnings (Loss) Per Share - Reconciliation of Outstanding Shares Utilized in Computation of Earnings (Loss) Per Common Share (Detail) - shares | 12 Months Ended | ||
Jan. 30, 2016 | Jan. 31, 2015 | Feb. 01, 2014 | |
Earnings Per Share [Abstract] | |||
Basic weighted average shares outstanding | 19,406,921 | 19,360,478 | 19,288,623 |
Dilutive effect of non-vested stock and stock options | 56,685 | ||
Diluted weighted average shares outstanding | 19,406,921 | 19,360,478 | 19,345,308 |
Earnings (Loss) Per Share - Add
Earnings (Loss) Per Share - Additional Information (Detail) - shares | 12 Months Ended | ||
Jan. 30, 2016 | Jan. 31, 2015 | Feb. 01, 2014 | |
Earnings Per Share [Abstract] | |||
Anti-dilutive stock options excluded from diluted weighted average shares outstanding | 1,389,887 | 1,127,620 | 307,887 |
Share-Based Compensation - Addi
Share-Based Compensation - Additional Information (Detail) - USD ($) | May. 28, 2014 | Sep. 24, 2013 | Aug. 26, 2013 | Jan. 30, 2016 | Jan. 31, 2015 | Feb. 01, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Special cash dividend declared per share | $ 3.60 | |||||
Dividend paid | $ 34,000 | $ 71,000 | $ 69,682,000 | |||
Dividends declared | $ 69,930,000 | 69,930,000 | ||||
Dividends declared but not yet paid | $ 47,000 | 97,000 | $ 248,000 | |||
Dividend declared, per share | $ 3.60 | |||||
Additional incentive stock options granted | 703,000 | |||||
Exercise of stock options | $ 31,000 | $ 136,000 | ||||
Deferred tax asset shortfall related to share-based compensation expense | 308,000 | 272,000 | ||||
Share based compensation expenses due to employee separation | 100,000 | 500,000 | ||||
Share based compensation expenses due to change in forfeiture rate | 200,000 | 100,000 | ||||
Performance Shares [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Unrecognized compensation expense | $ 600,000 | |||||
Weighted average period of recognition of unrecognized compensation expense | 2 years | |||||
Common stock shares granted | 103,900 | |||||
Maximum potential shares available to be issued pursuant to the plan | 179,200 | |||||
Maximum potential shares available to be issued pursuant to the plan, Percentage of shares authorized | 200.00% | |||||
Common stock shares non-vested | 89,600 | |||||
Share based compensation expenses | $ 1,000,000 | |||||
Performance Shares [Member] | Monte Carlo Valuation Model [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Potential shares available to be issued pursuant to the plan, Percentage of shares authorized | 159.90% | |||||
Employee Stock Options [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Additional incentive stock options granted | 703,000 | |||||
Weighted average period of recognition of unrecognized compensation expense | 1 year 6 months | |||||
Proceeds from the exercise of stock options | $ 31,000 | 100,000 | ||||
Aggregate intrinsic value of stock options exercised | 10,000 | 35,000 | ||||
Exercise of stock options | 0 | |||||
Unrecognized compensation cost for stock options | 1,700,000 | |||||
Total fair value of options vested | $ 2,000,000 | 500,000 | 1,400,000 | |||
Employee Stock Options [Member] | Scenario One [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Percentage of shares vesting annually | 20.00% | |||||
Vesting period | 5 years | |||||
Employee Stock Options [Member] | Scenario Two [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Percentage of shares vesting annually | 25.00% | |||||
Vesting period | 4 years | |||||
Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Dividends declared but not yet paid | $ 200,000 | |||||
Unrecognized compensation expense | $ 1,100,000 | |||||
Weighted average period of recognition of unrecognized compensation expense | 2 years 1 month 6 days | |||||
Total fair value of shares vested | $ 400,000 | $ 100,000 | ||||
Common stock shares granted | 150,250 | |||||
Common stock shares non-vested | 254,230 | 209,770 | ||||
Restricted Stock [Member] | Scenario One [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Percentage of shares vesting annually | 20.00% | |||||
Vesting period | 5 years | |||||
Restricted Stock [Member] | Scenario Two [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Percentage of shares vesting annually | 25.00% | |||||
Vesting period | 4 years | |||||
Restricted Stock [Member] | Scenario Three [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Percentage of shares vesting annually | 33.33% | |||||
Vesting period | 3 years | |||||
Unvested Stock Awards [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Share based compensation expenses | $ 1,000,000 | $ 400,000 | $ 1,300,000 | |||
Non Qualified Stock Option [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Dividend declared, per share | $ 3.60 | |||||
2010 Omnibus Incentive Compensation Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Exercise price of stock options granted | The exercise price of an option granted under the 2010 Plan will not be less than 100% of the fair value of a share of the Company's common stock on the date of grant, provided the exercise price of an incentive stock option granted to a person holding greater than 10% of the Company's voting power may not be less than 110% of such fair value on such date. | |||||
Aggregate shares authorized and available for grant | 4,573,086 | |||||
Increase in shares authorized and available for grant | 2,000,000 | |||||
Common stock available for future grants | 1,526,620 | |||||
2010 Omnibus Incentive Compensation Plan [Member] | Employee Stock Options [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Maximum term of each award | 10 years | |||||
2010 Omnibus Incentive Compensation Plan [Member] | Incentive Stock Option [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Maximum term of each award | 5 years | |||||
Reduction in incentive distribution per share | $ 2.82 | |||||
Additional incentive stock options granted | 77,195 |
Share-Based Compensation - Summ
Share-Based Compensation - Summary of Restricted Stock Activity (Detail) - Restricted Stock [Member] | 12 Months Ended |
Jan. 30, 2016$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Non-vested, January 31, 2015, Number of shares | shares | 209,770 |
Granted, Number of Shares | shares | 150,250 |
Forfeited, Number of shares | shares | (50,450) |
Vested, Number of shares | shares | (55,340) |
Non-vested, January 30, 2016, Number of Shares | shares | 254,230 |
Non-vested, January 31, 2015, Weighted Average Grant Date Fair Value | $ / shares | $ 6.21 |
Granted, Weighted Average Grant Date Fair Value | $ / shares | 5.66 |
Forfeited, Weighted Average Grant Date Fair Value | $ / shares | 5.87 |
Vested, Weighted Average Grant Date Fair Value | $ / shares | 6.39 |
Non-vested, January 30, 2016, Weighted Average Grant Date Fair Value | $ / shares | $ 5.91 |
Share-Based Compensation - Su63
Share-Based Compensation - Summary of Performance Share Activity (Detail) - Performance Shares [Member] | 12 Months Ended |
Jan. 30, 2016shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Granted, Number of Shares | 103,900 |
Forfeited, Number of shares | (14,300) |
Non-vested, January 30, 2016, Number of Shares | 89,600 |
Share-Based Compensation - Weig
Share-Based Compensation - Weighted Average Assumptions Used in Applying Monte Carlo Valuation Model for Option Grants (Detail) - Monte Carlo Valuation Model [Member] - Performance Shares [Member] | 12 Months Ended |
Jan. 30, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Risk-free interest rate | 0.90% |
Dividend yield | 0.00% |
Expected volatility | 51.00% |
Share-Based Compensation - Su65
Share-Based Compensation - Summary of Stock Option Activity (Detail) | 12 Months Ended |
Jan. 30, 2016USD ($)$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Granted, Number of Stock Options | shares | 703,000 |
Exercisable, January 30, 2016, Number of Stock Options | shares | 505,103 |
Outstanding, January 30, 2016, Weighted Average Exercise Price | $ / shares | $ 6.90 |
Exercisable, January 30, 2016, Weighted Average Exercise Price | $ / shares | $ 9.79 |
Employee Stock Options [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Outstanding, January 31, 2015, Number of Stock Options | shares | 1,326,143 |
Granted, Number of Stock Options | shares | 703,000 |
Exercised, Number of Stock Options | shares | (5,825) |
Forfeited, Number of Stock Options | shares | (324,780) |
Outstanding, January 30, 2016, Number of Stock Options | shares | 1,698,538 |
Exercisable, January 30, 2016, Number of Stock Options | shares | 505,103 |
Exercisable or expected to vest as of January 30, 2016, Number of Stock Options | shares | 1,346,206 |
Outstanding, January 31, 2015, Weighted Average Exercise Price | $ / shares | $ 7.50 |
Granted, Weighted Average Exercise Price | $ / shares | 5.64 |
Exercised, Weighted Average Exercise Price | $ / shares | 5.22 |
Forfeited, Weighted Average Exercise Price | $ / shares | 7.17 |
Outstanding, January 30, 2016, Weighted Average Exercise Price | $ / shares | 6.90 |
Exercisable, January 30, 2016, Weighted Average Exercise Price | $ / shares | 9.79 |
Exercisable or expected to vest as of January 30, 2016, Weighted Average Exercise Price | $ / shares | $ 7.12 |
Outstanding, January 30, 2016, Weighted Average Remaining Contractual Term (Years) | 8 years 1 month 6 days |
Exercisable, January 30, 2016, Weighted Average Remaining Contractual Term (Years) | 6 years 8 months 12 days |
Exercisable or expected to vest as of January 30, 2016, Weighted Average Remaining Contractual Term (Years) | 8 years 1 month 6 days |
Outstanding, January 30, 2016, Aggregate Intrinsic Value | $ | $ 0 |
Exercisable, January 30, 2016, Aggregate Intrinsic Value | $ | 0 |
Exercisable or expected to vest as of January 30, 2016, Aggregate Intrinsic Value | $ | $ 0 |
Share-Based Compensation - Su66
Share-Based Compensation - Summary of Stock Option Activity (Parenthetical) (Detail) | Jan. 30, 2016$ / shares |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock price | $ 2.51 |
Share-Based Compensation - Su67
Share-Based Compensation - Summary of Stock Options Outstanding and Exercisable (Detail) | 12 Months Ended |
Jan. 30, 2016$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Options Outstanding Number | shares | 1,698,538 |
Options Outstanding Weighted Average Exercise Price | $ 6.90 |
Weighted Average Remaining Contractual Term (in Years) | 7 years |
Options Exercisable Number | shares | 505,103 |
Options Exercisable Weighted Average Exercise Price | $ 9.79 |
$2.63 to $5.49 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Exercise Price Lower Range Limit | 2.63 |
Exercise Price Upper Range Limit | $ 5.49 |
Options Outstanding Number | shares | 661,025 |
Options Outstanding Weighted Average Exercise Price | $ 3.82 |
Weighted Average Remaining Contractual Term (in Years) | 5 years 8 months 12 days |
Options Exercisable Number | shares | 141,206 |
Options Exercisable Weighted Average Exercise Price | $ 3.80 |
$5.86 to $11.02 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Exercise Price Lower Range Limit | 5.86 |
Exercise Price Upper Range Limit | $ 11.02 |
Options Outstanding Number | shares | 711,313 |
Options Outstanding Weighted Average Exercise Price | $ 6.56 |
Weighted Average Remaining Contractual Term (in Years) | 8 years 7 months 6 days |
Options Exercisable Number | shares | 118,137 |
Options Exercisable Weighted Average Exercise Price | $ 8.57 |
$13.04 to $16.11 [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Exercise Price Lower Range Limit | 13.04 |
Exercise Price Upper Range Limit | $ 16.11 |
Options Outstanding Number | shares | 326,200 |
Options Outstanding Weighted Average Exercise Price | $ 13.91 |
Weighted Average Remaining Contractual Term (in Years) | 5 years 10 months 24 days |
Options Exercisable Number | shares | 245,760 |
Options Exercisable Weighted Average Exercise Price | $ 13.82 |
Share-Based Compensation - Su68
Share-Based Compensation - Summary of Non-vested Outstanding Stock Options (Detail) | 12 Months Ended |
Jan. 30, 2016$ / sharesshares | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Non-vested, Beginning Balance | shares | 867,092 |
Number of Stock Options, Granted | shares | 703,000 |
Number of Stock Options, Vested | shares | (270,279) |
Number of Stock Options, Forfeited | shares | (324,780) |
Non-vested, Ending Balance | shares | 975,033 |
Weighted Average Fair Value at Grant Date, Non-vested, Beginning Balance | $ / shares | $ 5.34 |
Weighted Average Fair Value at Grant Date, Granted | $ / shares | 5.64 |
Weighted Average Fair Value at Grant Date, Vested | $ / shares | 7.52 |
Weighted Average Fair Value at Grant Date, Forfeited | $ / shares | 7.17 |
Weighted Average Fair Value at Grant Date, Non-vested, Ending Balance | $ / shares | $ 4.34 |
Share-Based Compensation - We69
Share-Based Compensation - Weighted Average Assumptions Used in Applying Black-Scholes Valuation Model for Option Grants (Detail) - $ / shares | 12 Months Ended | ||
Jan. 30, 2016 | Jan. 31, 2015 | Feb. 01, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Weighted average fair value of options granted | $ 5.64 | ||
Black-Scholes Valuation Model [Member] | Employee Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk-free interest rate | 2.00% | ||
Risk-free interest rate, minimum | 1.70% | 1.25% | |
Risk-free interest rate, maximum | 2.00% | 2.00% | |
Dividend yield | 2.00% | 2.00% | 2.00% |
Expected volatility, minimum | 39.00% | 36.00% | 35.00% |
Expected volatility, maximum | 40.00% | 40.00% | 36.00% |
Expected life (years) | 6 years 3 months | 6 years 3 months | 6 years 3 months |
Weighted average fair value of options granted | $ 1.85 | $ 1.31 | $ 3.43 |
Related Party Disclosure - Addi
Related Party Disclosure - Additional Information (Detail) - Sun Capital Management [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 30, 2016 | Jan. 31, 2015 | |
Related Party Transaction [Line Items] | ||
Purchase merchandise inventories | $ 2,000 | $ 1,600 |
Service Agreements [Member] | ||
Related Party Transaction [Line Items] | ||
Related parties transaction expenses | $ 37 | $ 400 |
Selected Quarterly Financial 71
Selected Quarterly Financial Information (Unaudited) - Quarterly Financial Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 30, 2016 | Oct. 31, 2015 | Aug. 01, 2015 | May. 02, 2015 | Jan. 31, 2015 | Nov. 01, 2014 | Aug. 02, 2014 | May. 03, 2014 | Jan. 30, 2016 | Jan. 31, 2015 | Feb. 01, 2014 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Net sales | $ 205,737 | $ 153,856 | $ 143,434 | $ 145,940 | $ 203,906 | $ 146,653 | $ 141,039 | $ 143,022 | $ 648,967 | $ 634,620 | $ 619,559 |
Gross profit | 78,263 | 68,352 | 62,827 | 64,968 | 76,829 | 64,412 | 59,730 | 63,374 | 274,410 | 264,345 | 261,924 |
Net income / (loss) | $ 1,082 | $ (2,763) | $ (3,031) | $ 374 | $ 2,296 | $ (1,851) | $ (3,189) | $ (732) | $ (4,338) | $ (3,476) | $ 8,013 |
Basic earnings / (loss) per share | $ 0.06 | $ (0.14) | $ (0.16) | $ 0.02 | $ 0.12 | $ (0.10) | $ (0.16) | $ (0.04) | $ (0.22) | $ (0.18) | $ 0.42 |
Diluted earnings / (loss) per share | $ 0.06 | $ (0.14) | $ (0.16) | $ 0.02 | $ 0.12 | $ (0.10) | $ (0.16) | $ (0.04) | $ (0.22) | $ (0.18) | $ 0.41 |
Schedule I - Additional Informa
Schedule I - Additional Information (Detail) | 12 Months Ended |
Jan. 30, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Minimum percentage of restricted net assets of consolidated subsidiaries of consolidated net assets | 25.00% |
Schedule I - Schedule of Conden
Schedule I - Schedule of Condensed Parent Company Balance Sheets (Detail) - USD ($) $ in Thousands | Jan. 30, 2016 | Jan. 31, 2015 |
ASSETS | ||
TOTAL ASSETS | $ 230,252 | $ 226,877 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
Preferred stock - $0.001 par value; 5,000,000 shares authorized, none issued and outstanding as of January 30, 2016 and January 31, 2015, respectively | ||
Additional paid-in capital | $ 54,601 | $ 53,870 |
Accumulated deficit | (19,727) | (15,403) |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 230,252 | 226,877 |
Parent Company [Member] | ||
ASSETS | ||
Investment in subsidiary | 34,894 | 38,487 |
TOTAL ASSETS | $ 34,894 | $ 38,487 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
Preferred stock - $0.001 par value; 5,000,000 shares authorized, none issued and outstanding as of January 30, 2016 and January 31, 2015, respectively | ||
Common stock - $0.001 par value; 50,000,000 shares authorized, 20,090,881 issued and 19,682,248 outstanding as of January 30, 2016, 19,985,256 issued and 19,576,623 outstanding as of January 31, 2015 | $ 20 | $ 20 |
Additional paid-in capital | 54,601 | 53,870 |
Accumulated deficit | (19,727) | (15,403) |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 34,894 | $ 38,487 |
Schedule I - Schedule of Cond74
Schedule I - Schedule of Condensed Parent Company Balance Sheets (Parenthetical) (Detail) - $ / shares | Jan. 30, 2016 | Jan. 31, 2015 |
Condensed Financial Statements, Captions [Line Items] | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 20,090,881 | 19,985,256 |
Common stock, shares outstanding | 19,682,248 | 19,576,623 |
Parent Company [Member] | ||
Condensed Financial Statements, Captions [Line Items] | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 20,090,881 | 19,985,256 |
Common stock, shares outstanding | 19,682,248 | 19,576,623 |
Schedule I - Schedule of Cond75
Schedule I - Schedule of Condensed Parent Company Statements of Operations (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 30, 2016 | Oct. 31, 2015 | Aug. 01, 2015 | May. 02, 2015 | Jan. 31, 2015 | Nov. 01, 2014 | Aug. 02, 2014 | May. 03, 2014 | Jan. 30, 2016 | Jan. 31, 2015 | Feb. 01, 2014 | |
Condensed Income Statements, Captions [Line Items] | |||||||||||
Share-based compensation expense | $ (1,008) | $ (362) | $ (1,250) | ||||||||
Net income / (loss) | $ 1,082 | $ (2,763) | $ (3,031) | $ 374 | $ 2,296 | $ (1,851) | $ (3,189) | $ (732) | (4,338) | (3,476) | 8,013 |
Parent Company [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Equity in earnings / (loss) of subsidiary | (3,330) | (3,114) | 9,263 | ||||||||
Share-based compensation expense | (1,008) | (362) | (1,250) | ||||||||
Net income / (loss) | $ (4,338) | $ (3,476) | $ 8,013 |
Schedule I - Schedule of Cond76
Schedule I - Schedule of Condensed Parent Company Statements of Cash Flows (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 30, 2016 | Oct. 31, 2015 | Aug. 01, 2015 | May. 02, 2015 | Jan. 31, 2015 | Nov. 01, 2014 | Aug. 02, 2014 | May. 03, 2014 | Jan. 30, 2016 | Jan. 31, 2015 | Feb. 01, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||
Net income / (loss) | $ 1,082 | $ (2,763) | $ (3,031) | $ 374 | $ 2,296 | $ (1,851) | $ (3,189) | $ (732) | $ (4,338) | $ (3,476) | $ 8,013 |
Adjustment to reconcile net income to net cash provided by / (used in) operating activities: | |||||||||||
Share-based compensation expense | 1,008 | 362 | 1,250 | ||||||||
Net cash provided by / (used in) operating activities | 8,606 | 45,180 | 20,815 | ||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||||
Net cash used in investing activities | (13,638) | (30,686) | (36,321) | ||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||
Dividends paid | (34) | (71) | (69,682) | ||||||||
Repurchase of common stock | (15) | (52) | |||||||||
Proceeds from the exercise of stock options | 31 | 136 | |||||||||
Net cash provided by / (used in) financing activities | 4,367 | (12,619) | (19,559) | ||||||||
NET CHANGE IN CASH AND CASH EQUIVALENTS | (665) | 1,875 | (35,065) | ||||||||
CASH AND CASH EQUIVALENTS, Beginning of period | 7,634 | 5,759 | 7,634 | 5,759 | 40,824 | ||||||
CASH AND CASH EQUIVALENTS, End of period | 6,969 | 7,634 | 6,969 | 7,634 | 5,759 | ||||||
Parent Company [Member] | |||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||||
Net income / (loss) | (4,338) | (3,476) | 8,013 | ||||||||
Adjustment to reconcile net income to net cash provided by / (used in) operating activities: | |||||||||||
Share-based compensation expense | 1,008 | 362 | 1,250 | ||||||||
Equity in earnings / (loss) of subsidiary | 3,330 | 3,114 | (9,263) | ||||||||
Net cash provided by / (used in) operating activities | 0 | 0 | 0 | ||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||||
Investment in subsidiary | (136) | ||||||||||
Dividends received from subsidiary | 3 | 86 | 69,734 | ||||||||
Net cash used in investing activities | 3 | 86 | 69,598 | ||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||
Dividends paid | (34) | (71) | (69,682) | ||||||||
Repurchase of common stock | (15) | (52) | |||||||||
Proceeds from the exercise of stock options | 31 | 136 | |||||||||
Net cash provided by / (used in) financing activities | (3) | (86) | (69,598) | ||||||||
NET CHANGE IN CASH AND CASH EQUIVALENTS | 0 | 0 | 0 | ||||||||
CASH AND CASH EQUIVALENTS, Beginning of period | $ 0 | $ 0 | 0 | 0 | 0 | ||||||
CASH AND CASH EQUIVALENTS, End of period | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 |
Schedule II - Schedule of Valua
Schedule II - Schedule of Valuation and Qualifying Accounts (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 30, 2016 | Jan. 31, 2015 | Feb. 01, 2014 | |
Reserve for Sales Returns [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Beginning of Year Balance | $ 204 | $ 170 | $ 195 |
Amount Charged to Net Income | 39,381 | 39,079 | 39,948 |
Sales Returns | (39,383) | (39,045) | (39,973) |
End of Year Balance | 202 | 204 | 170 |
Allowance for Doubtful Accounts [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Beginning of Year Balance | 125 | 205 | 137 |
Amount Charged to Net Income | 23 | 149 | 135 |
Write-off of uncollectible accounts | (82) | (229) | (67) |
End of Year Balance | $ 66 | $ 125 | $ 205 |