Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Feb. 03, 2018 | Mar. 27, 2018 | Jul. 29, 2017 | |
Entity Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Feb. 3, 2018 | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | VRA | ||
Entity Registrant Name | Vera Bradley, Inc. | ||
Entity Central Index Key | 1,495,320 | ||
Current Fiscal Year End Date | --02-03 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 35,519,809 | ||
Entity Public Float | $ 206,807,728 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Feb. 03, 2018 | Jan. 28, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 68,751 | $ 86,375 |
Short-term investments | 54,150 | 30,152 |
Accounts receivable, net | 15,566 | 23,313 |
Inventories | 87,838 | 102,283 |
Income taxes receivable | 4,391 | 3,217 |
Prepaid expenses and other current assets | 11,327 | 10,237 |
Total current assets | 242,023 | 255,577 |
Property, plant, and equipment, net | 86,463 | 101,577 |
Long-term investments | 15,515 | 0 |
Deferred income taxes | 5,385 | 13,539 |
Other assets | 1,283 | 2,816 |
Total assets | 350,669 | 373,509 |
Current liabilities: | ||
Accounts payable | 13,503 | 32,619 |
Accrued employment costs | 13,616 | 12,474 |
Other accrued liabilities | 12,343 | 16,906 |
Income taxes payable | 812 | 508 |
Total current liabilities | 40,274 | 62,507 |
Long-term liabilities | 25,112 | 27,216 |
Total liabilities | 65,386 | 89,723 |
Commitments and contingencies | ||
Shareholders’ equity: | ||
Preferred stock; 5,000 shares authorized, no shares issued or outstanding | 0 | 0 |
Common stock, without par value; 200,000 shares authorized, 41,102 and 40,927 shares issued and 35,459 and 36,218 outstanding, respectively | 0 | 0 |
Additional paid-in capital | 91,192 | 88,739 |
Retained earnings | 270,783 | 263,767 |
Accumulated other comprehensive loss | (114) | (50) |
Treasury stock | (76,578) | (68,670) |
Total shareholders’ equity | 285,283 | 283,786 |
Total liabilities and shareholders’ equity | $ 350,669 | $ 373,509 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Feb. 03, 2018 | Jan. 28, 2017 |
Statement of Financial Position [Abstract] | ||
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, without par value | ||
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares issued | 41,102,000 | 40,927,000 |
Common stock, shares outstanding | 35,459,000 | 36,218,000 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Income Statement [Abstract] | |||
Net revenues | $ 454,648 | $ 485,937 | $ 502,598 |
Cost of sales | 200,639 | 209,891 | 221,409 |
Gross profit | 254,009 | 276,046 | 281,189 |
Selling, general, and administrative expenses | 239,810 | 249,155 | 236,836 |
Other income | 782 | 1,329 | 2,369 |
Operating income | 14,981 | 28,220 | 46,722 |
Interest (income) expense, net | (413) | 178 | 263 |
Income before income taxes | 15,394 | 28,042 | 46,459 |
Income tax expense | 8,378 | 8,284 | 18,901 |
Net income | $ 7,016 | $ 19,758 | $ 27,558 |
Basic weighted-average shares outstanding | 35,925 | 36,838 | 38,795 |
Diluted weighted-average shares outstanding | 36,026 | 36,970 | 38,861 |
Net income (loss) per share - basic | |||
Net income per share, basic (in dollars per share) | $ 0.20 | $ 0.54 | $ 0.71 |
Net income (loss) per share - diluted | |||
Net income per share, diluted (in dollars per share) | $ 0.19 | $ 0.53 | $ 0.71 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 7,016 | $ 19,758 | $ 27,558 |
Unrealized loss on available for sale investments | (51) | 0 | 0 |
Cumulative translation adjustment | (13) | (7) | (28) |
Comprehensive income, net of tax | $ 6,952 | $ 19,751 | $ 27,530 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings (Accumulated Deficit) [Member] | Accumulated Other Comprehensive Income [Member] |
Common stock (shares) outstanding, balance at the beginning of the period at Jan. 31, 2015 | 40,074,310 | |||||
Treasury stock (shares), balance at the beginning of the period at Jan. 31, 2015 | 620,985 | |||||
Balance at the beginning of the period at Jan. 31, 2015 | $ 284,471 | $ (12,957) | $ 80,992 | $ 216,451 | $ (15) | |
Net income | 27,558 | 27,558 | ||||
Translation adjustments | (28) | (28) | ||||
Restricted shares vested, net of repurchase for taxes, shares | 108,228 | |||||
Restricted shares vested, net of repurchase for taxes | (583) | (583) | ||||
Stock-based compensation | $ 5,027 | 5,027 | ||||
Treasury stock purchased, shares | 2,481,367 | (2,481,367) | 2,481,367 | |||
Treasury stock purchased | $ (31,190) | $ 31,190 | ||||
Unrealized loss on available for sale investments | 0 | |||||
Common stock (shares) outstanding, balance at the end of the period at Jan. 30, 2016 | 37,701,171 | |||||
Treasury stock (shares), balance at the end of the period at Jan. 30, 2016 | 3,102,352 | |||||
Balance at the end of the period at Jan. 30, 2016 | 285,255 | $ (44,147) | 85,436 | 244,009 | (43) | |
Net income | 19,758 | 19,758 | ||||
Translation adjustments | (7) | (7) | ||||
Restricted shares vested, net of repurchase for taxes, shares | 123,002 | |||||
Restricted shares vested, net of repurchase for taxes | (729) | (729) | ||||
Stock-based compensation | $ 4,032 | 4,032 | ||||
Treasury stock purchased, shares | 1,606,102 | (1,606,102) | 1,606,102 | |||
Treasury stock purchased | $ (24,523) | $ (24,523) | ||||
Unrealized loss on available for sale investments | $ 0 | |||||
Common stock (shares) outstanding, balance at the end of the period at Jan. 28, 2017 | 36,218,000 | 36,218,071 | ||||
Treasury stock (shares), balance at the end of the period at Jan. 28, 2017 | 4,708,454 | |||||
Balance at the end of the period at Jan. 28, 2017 | $ 283,786 | $ (68,670) | 88,739 | 263,767 | (50) | |
Net income | 7,016 | 7,016 | ||||
Translation adjustments | (13) | (13) | ||||
Restricted shares vested, net of repurchase for taxes, shares | 174,985 | |||||
Restricted shares vested, net of repurchase for taxes | (618) | (618) | ||||
Stock-based compensation | 3,071 | 3,071 | ||||
Treasury stock purchased, shares | (934,031) | 934,031 | ||||
Treasury stock purchased | (7,908) | $ (7,908) | ||||
Unrealized loss on available for sale investments | $ (51) | (51) | ||||
Common stock (shares) outstanding, balance at the end of the period at Feb. 03, 2018 | 35,459,000 | 35,459,025 | ||||
Treasury stock (shares), balance at the end of the period at Feb. 03, 2018 | 5,642,485 | 5,642,485 | ||||
Balance at the end of the period at Feb. 03, 2018 | $ 285,283 | $ (76,578) | $ 91,192 | $ 270,783 | $ (114) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Cash flows from operating activities | |||
Net income | $ 7,016 | $ 19,758 | $ 27,558 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation of property, plant, and equipment | 19,570 | 19,516 | 19,418 |
Impairment charges | 6,298 | 12,706 | 2,755 |
Provision for doubtful accounts | 425 | 439 | 515 |
Loss on disposal of property, plant, and equipment | 15 | 14 | 141 |
Stock-based compensation | 3,071 | 4,032 | 5,027 |
Deferred income taxes | 8,154 | (2,176) | (3,340) |
Gain on short-term investment | 0 | (152) | 0 |
Cash gain on investments | 162 | 0 | 0 |
Other non-cash charges, net | 88 | 0 | 0 |
Changes in assets and liabilities: | |||
Accounts receivable | 7,322 | 7,542 | (435) |
Inventories | 14,445 | 11,307 | (15,187) |
Prepaid expenses and other assets | 566 | (798) | (2,571) |
Accounts payable | (18,214) | 9,001 | (8,665) |
Income taxes | (870) | (12,009) | 12,508 |
Accrued and other liabilities | (5,406) | (3,994) | 5,546 |
Net cash provided by operating activities | 42,642 | 65,186 | 43,270 |
Cash flows from investing activities | |||
Purchases of property, plant, and equipment | (11,822) | (20,778) | (26,322) |
Purchases of investments | (85,530) | (30,000) | 0 |
Proceeds from maturities and sales of investments | 45,716 | 0 | 0 |
Proceeds from disposal of property, plant, and equipment | 32 | 8 | 0 |
Net cash used in investing activities | (51,604) | (50,770) | (26,322) |
Cash flows from financing activities | |||
Tax withholdings for equity compensation | (618) | (729) | (583) |
Repurchase of common stock | (7,908) | (24,959) | (30,870) |
Payments of debt-issuance costs | (123) | 0 | 0 |
Other financing activities, net | (27) | (78) | |
Net cash used in financing activities | (8,649) | (25,715) | (31,531) |
Effect of exchange rate changes on cash and cash equivalents | (13) | (7) | (28) |
Net decrease in cash and cash equivalents | (17,624) | (11,306) | (14,611) |
Cash and cash equivalents, beginning of period | 86,375 | 97,681 | 112,292 |
Cash and cash equivalents, end of period | 68,751 | 86,375 | 97,681 |
Supplemental disclosure of cash-flow information | |||
Cash paid for income taxes, net | 1,942 | 24,824 | 9,302 |
Cash paid for interest | $ 187 | $ 248 | $ 259 |
Description of the Company
Description of the Company | 12 Months Ended |
Feb. 03, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Description of the Company | Description of the Company Vera Bradley, Inc. (“Vera Bradley” or the “Company”) is a leading designer of women’s handbags, luggage and travel items, fashion and home accessories, and unique gifts. Founded in 1982 by friends Barbara Bradley Baekgaard and Patricia R. Miller, the brand’s innovative designs, iconic patterns, and brilliant colors inspire and connect women across the country. Vera Bradley offers a multi-channel sales model, as well as a focus on service and a high level of customer engagement. The Company sells its products through two reportable segments: Direct and Indirect. The Direct business consists of sales of Vera Bradley products through the Company’s full-line and factory outlet stores in the United States, verabradley.com, the Company’s online outlet site, direct-to-consumer eBay sales, and the Company’s annual outlet sale in Fort Wayne, Indiana. As of February 3, 2018 , the Company operated 109 full-line stores and 51 factory outlet stores. The Indirect business consists of sales of Vera Bradley products to approximately 2,400 specialty retail locations, substantially all of which are located in the United States, as well as department stores, national accounts, third party e-commerce sites, third-party inventory liquidators, and through licensing agreements. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. The Company has eliminated intercompany balances and transactions in consolidation. Fiscal Periods The Company utilizes a 52 - 53 week fiscal year ended on the Saturday closest to January 31. As such, fiscal year 2018 , ending on February 3, 2018 , reflected a 53-week period. Fiscal years 2017 and 2016 , ending on January 28, 2017 and January 30, 2016 , respectively, each reflected a 52 -week period. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Feb. 03, 2018 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Use of Significant Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of the Company’s assets, liabilities, revenues, and expenses, as well as the disclosures relating to contingent assets and liabilities at the date of the consolidated financial statements. Significant areas requiring the use of management estimates include the valuation of inventories, accounts receivable valuation allowances, sales return allowances, and the useful lives of assets for depreciation or amortization. Actual results could differ from these estimates. The Company revises its estimates and assumptions as new information becomes available. Cash and Cash Equivalents Cash and cash equivalents represent cash on hand, deposits with financial institutions, and investments with an original maturity of three months or less. Investments Short-term investments consist of investments with a maturity within one year of the balance sheet date. As of February 3, 2018 , these investments consisted of a certificate of deposit, municipal securities, U.S. and non-U.S. corporate debt securities, and commercial paper. As of January 28, 2017 , short-term investments consisted of a certificate of deposit with a maturity of one year and a one-time option to accelerate maturity to 31 days without penalty. Long-term investments consist of investments with a maturity of greater than one year from the balance sheet date. As of February 3, 2018 , these investments consisted of municipal securities, U.S. and non-U.S. corporate debt securities, and U.S. treasury securities. The Company did not have long-term investments as of January 28, 2017 . The Company’s objective with respect to these investments is to earn a higher rate of return, relative to deposit accounts, on funds that are otherwise not anticipated to be required to meet liquidity needs in the near term while maintaining a low level of investment risk. Refer to Note 14 herein for additional information regarding the Company's investments. Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined using the first-in, first-out (“FIFO”) method. Appropriate consideration is given to obsolescence, excess quantities, and other factors, including the popularity of a pattern or product, in evaluating net realizable value. The Company's inventory consists solely of finished goods. Property, Plant, and Equipment Property, plant, and equipment are carried at cost and depreciated or amortized over the following estimated useful lives using the straight-line method: Buildings and building improvements .............................................. 39.5 years Land improvements ........................................................................... 5 – 15 years Furniture and fixtures, and leasehold improvements ........................ 3 – 10 years Equipment ......................................................................................... 7 years Vehicles ............................................................................................. 5 years Computer equipment and software ................................................... 3 – 5 years Leasehold improvements are amortized over the shorter of the life of the asset or the lease term. Lease terms typically range from three to ten years. When a decision is made to abandon property, plant, and equipment prior to the end of the previously estimated useful life, depreciation or amortization estimates are revised to reflect the use of the asset over the shortened estimated useful life. At the time of disposal, the cost of assets sold or retired and the related accumulated depreciation or amortization are removed from the accounts and any resulting loss is included in the Consolidated Statements of Income. Property, plant, and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. The reviews are conducted at the lowest identifiable level of cash flows. If the estimated undiscounted future cash flows related to the property, plant, and equipment are less than the carrying value, the Company recognizes a loss equal to the difference between the carrying value and the fair value, as further defined below in “Fair Value of Financial Instruments.” Routine maintenance and repair costs are expensed as incurred. The Company capitalizes certain costs incurred in connection with acquiring, modifying, and installing internal-use software. Capitalized costs are included in property, plant, and equipment and are amortized over three to five years . Software costs that do not meet capitalization criteria are expensed as incurred. Revenue Recognition and Accounts Receivable Revenue from the sale of the Company’s products is recognized upon customer receipt of the product when collection of the associated receivables is reasonably assured, persuasive evidence of an arrangement exists, the sales price is fixed and determinable, and ownership and risk of loss have been transferred to the customer, which, for e-commerce and most Indirect sales, reflects an adjustment for shipments that customers have not yet received. The adjustment of these shipments is based on actual delivery dates to the customer. Included in net revenues are product sales to Direct and Indirect customers, including amounts billed to customers for shipping fees. Costs related to shipping of product are classified in cost of sales in the Consolidated Statements of Income. Net revenues exclude sales taxes collected from customers and remitted to governmental authorities. Historical experience provides the Company the ability to reasonably estimate the amount of product sales that customers will return. Product returns are often resalable through the Company’s annual outlet sale or other channels. Additionally, the Company reserves for customer allowances for certain Indirect retailers based upon various contract terms and other potential product credits granted to Indirect retailers. The returns and credits reserve and the related activity for each fiscal year presented were as follows (in thousands): Balance at Beginning of Year Provision Charged to Net Revenues Allowances Taken / Written Off Balance at End of Year Fiscal year ended February 3, 2018 $ 5,360 $ 23,504 $ (26,169 ) $ 2,695 Fiscal year ended January 28, 2017 2,317 32,905 (29,862 ) 5,360 Fiscal year ended January 30, 2016 2,173 25,707 (25,563 ) 2,317 The Company establishes an allowance for doubtful accounts based on historical experience and customer-specific identification and believes that collections of receivables, net of the allowance for doubtful accounts, are reasonably assured. The allowance for doubtful accounts was approximately $0.9 million and $0.6 million as of February 3, 2018 , and January 28, 2017 , respectively. The Company sells gift cards with no expiration dates to customers and does not charge administrative fees on unused gift cards. Gift cards issued by the Company are recorded as a liability until they are redeemed, at which point revenue is recognized. In addition, the Company recognizes revenue on unredeemed gift cards when the likelihood of the gift card being redeemed is remote and there is no legal obligation to remit the value of unredeemed gift cards to the relevant jurisdictions. The Company determines the gift card breakage rate based on historical redemption patterns. The Company recorded $0.3 million of revenue related to gift card breakage during each of the fiscal years ended February 3, 2018 , January 28, 2017 , and January 30, 2016 . Gift card breakage is included in net revenues in the Consolidated Statements of Income, as well as Direct segment net revenues. Cost of Sales Cost of sales includes material and labor costs, freight, inventory shrinkage, operating lease costs, duty, and other operating expenses, including depreciation of the Company’s distribution center and equipment. Costs and related expenses to purchase and distribute the products are recorded as cost of sales when the related revenues are recognized. Operating Leases and Tenant-Improvement Allowances The Company has leases that contain rent holidays and predetermined, fixed escalations of minimum rentals. For each of these leases, the Company recognizes the related rent expense on a straight-line basis commencing on the date of initial possession of the leased property. The Company records the difference between the recognized rent expense and the amount payable under the lease as a deferred rent liability. As of February 3, 2018 and January 28, 2017 , deferred rent liability was $12.9 million and $12.7 million , respectively, and is included within long-term liabilities on the Consolidated Balance Sheets. The Company receives tenant-improvement allowances from some of the landlords of its leased properties. These allowances generally are in the form of cash received by the Company from its landlords as part of the negotiated lease terms. The Company records each tenant-improvement allowance as a deferred credit and amortizes the allowance on a straight-line basis as a reduction to rent expense over the term of the lease, commencing on the possession date. As of February 3, 2018 and January 28, 2017 , the deferred lease credit liability was $14.6 million and $15.8 million , respectively. Of this, $2.4 million is included within other accrued liabilities as of February 3, 2018 and January 28, 2017 and $12.2 million and $13.4 million is included within long-term liabilities on the Consolidated Balance Sheets as of February 3, 2018 and January 28, 2017 , respectively. Store Pre-Opening, Occupancy, and Operating Costs The Company charges costs associated with the opening of new stores to selling, general, and administrative expenses as incurred. Selling, general, and administrative expenses also include store operating costs, store employee compensation, and store occupancy and supply costs. Stock-Based Compensation The Company accounts for stock-based compensation using the fair-value recognition provisions of Accounting Standards Codification 718, Stock Compensation . Under these provisions, for its awards of restricted stock and restricted-stock units, the Company recognizes stock-based compensation expense in an amount equal to the fair market value of the underlying stock on the grant date of the respective award. The Company recognizes this expense, net of estimated forfeitures, on a straight-line basis over the requisite service period. Other Income and Advertising Costs The Company expenses advertising costs at the time the promotion first appears in media, in stores, or on the website, and includes those costs in selling, general, and administrative expenses in the Consolidated Statements of Income. The Company classifies the related recovery of a portion of such costs from Indirect retailers as other income in the Consolidated Statements of Income. Total advertising expense was as follows (in thousands): Fiscal year ended February 3, 2018 $ 26,953 Fiscal year ended January 28, 2017 32,222 Fiscal year ended January 30, 2016 33,392 Total recovery from Indirect retailers was as follows (in thousands): Fiscal year ended February 3, 2018 $ 367 Fiscal year ended January 28, 2017 1,000 Fiscal year ended January 30, 2016 2,180 Debt-Issuance Costs Unamortized debt-issuance costs totaled $0.5 million as of February 3, 2018 , and $0.6 million as of January 28, 2017 , and are included in other assets on the Consolidated Balance Sheets. Fiscal 2018 included $0.1 million of additional debt-issuance costs for Amendment No. 2 to the second amended and restated credit agreement which is being amortized over the remaining term of the agreement. Refer to Note 4 herein for additional information. Amortization expense of $0.2 million is included in interest expense in the Consolidated Statements of Income for each of the fiscal years ended February 3, 2018 , January 28, 2017 , and January 30, 2016 . Fair Value of Financial Instruments Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities measured at fair value are classified using the following hierarchy, which is based upon the transparency of inputs to the valuation as of the measurement date: • Level 1 – Quoted prices in active markets for identical assets or liabilities; • Level 2 – Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; • Level 3 – Unobservable inputs based on the Company’s own assumptions. The classification of fair value measurements within the hierarchy is based upon the lowest level of input that is significant to the measurement. The carrying amounts reflected on the Consolidated Balance Sheets for cash and cash equivalents, accounts receivable, other current assets, and accounts payable as of February 3, 2018 and January 28, 2017 , approximated their fair values. The following table details the fair value measurements of the Company's investments as of February 3, 2018 and January 28, 2017 (in thousands): Level 1 Level 2 Level 3 February 3, 2018 January 28, 2017 February 3, 2018 January 28, 2017 February 3, 2018 January 28, 2017 Cash equivalents (1) $ 1,889 $ — $ 4,058 $ — $ — $ — Short-term investments: Certificate of deposit — — 25,032 30,152 — — Municipal securities — — 12,942 — — — U.S. corporate debt securities — — 8,727 — — — Non-U.S. corporate debt securities — — 6,451 — — — Commercial paper — — 998 — — — Long-term investments: Municipal securities — — 5,098 — — — U.S. corporate debt securities — — 4,543 — — — U.S. treasury securities 3,099 — — — — — Non-U.S. corporate debt securities — — 2,775 — — — (1) Cash equivalents include commercial paper, a money market fund, and municipal securities that have a maturity of three months or less at the date of purchase. Due to their short maturity, the Company believes the carrying value approximates fair value. The Company has certain assets that are measured on a non-recurring basis under circumstances and events described in Note 3 herein. The categorization of the framework to price these assets are within Level 3 due to the subjective nature of unobservable inputs. Income Taxes The Company accrues income taxes payable or refundable and recognizes deferred tax assets and liabilities based on differences between the book and tax bases of assets and liabilities. The Company measures deferred tax assets and liabilities using enacted rates in effect for the years in which the differences are expected to reverse, and recognizes the effect of a change in enacted rates in the period of enactment. As such, the Company recognized additional income tax expense of $2.1 million during fiscal 2018 upon the enactment of the Tax Cuts and Jobs Act. Refer to Note 5 herein for additional information. The Company establishes liabilities for uncertain positions taken or expected to be taken in income tax returns, using a more-likely-than-not recognition threshold. The Company includes in income tax expense any interest and penalties related to uncertain tax positions. Recently Issued Accounting Pronouncements Recently Issued Accounting Pronouncements Not Yet Adopted In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers. This guidance requires companies to recognize revenue in a manner that depicts the transfer of promised goods or services to customers in amounts that reflect the consideration to which a company expects to be entitled in exchange for those goods or services. The new standard also will result in enhanced disclosures about the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The standard allows for either a full retrospective or a modified retrospective transition method. In August 2015, the FASB issued ASU 2015-14 to defer the effective date of ASU 2014-09 for all entities by one year to annual periods beginning after December 15, 2017, including interim periods within that reporting period, which for the Company is February 4, 2018 (the beginning of the Company's fiscal 2019). Earlier application is permitted as of the original effective date, annual reporting periods beginning after December 2016, including interim periods within that reporting period. The Company has completed its assessment regarding the impact of the adoption of the standard on its consolidated financial statements and determined that the standard will impact the Company's adjustments to revenue for shipments not yet received, recognition of revenue for unredeemed gift cards, and recognition of licensing revenue. The Company will no longer adjust revenue for shipments not yet received at each reporting period as it will recognize revenue as control is passed to the customer. It was determined that control is passed to the customer upon shipment, consistent with when legal title is passed. This will accelerate the recognition of revenue at each reporting period compared to the Company's historical practice. Revenue for unredeemed gift cards will be estimated and recognized based on the historical patterns of gift card redemption. Historically, the Company recognized revenue for gift card breakage when the likelihood of the customer exercising their remaining rights became remote. This will accelerate the recognition of gift card breakage revenue at each reporting period compared to the Company's historical practice. Revenue associated with contractually guaranteed minimum royalties in sales-based royalty arrangements will be recognized straight-line over the remaining license period once determined that the minimum sales level will not be achieved. Historically, the Company recognized any excess of the guaranteed minimum royalty over the actual royalties earned at the end of the license period. The Company will adopt the standard in the first quarter of fiscal 2019 using the modified retrospective method with a cumulative adjustment to beginning retained earnings. The Company expects this cumulative adjustment and the future impact to the Company's Consolidated Balance Sheets and Consolidated Statements of Income to be immaterial. In February 2016, the FASB issued ASU 2016-02, Leases, which increases transparency and comparability among organizations by requiring lessees to recognize assets and liabilities on the balance sheet for the rights and obligations created by leases and disclosing key information about leasing arrangements. This guidance is effective for interim and annual periods beginning on or after December 15, 2018. The Company has operating leases at all of its retail stores; therefore, the adoption of this standard will result in a material increase of assets and liabilities on the Company's Consolidated Balance Sheets. The Company is continuing to evaluate the impact on its consolidated results of operations and cash flows. |
Property, Plant, and Equipment
Property, Plant, and Equipment | 12 Months Ended |
Feb. 03, 2018 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant, and Equipment | Property, Plant, and Equipment Property, plant, and equipment consisted of the following (in thousands): February 3, January 28, Land and land improvements $ 5,981 $ 5,981 Building and building improvements 46,233 46,233 Furniture, fixtures, leasehold improvements, computer equipment and software 108,351 127,791 Equipment and vehicles 20,264 20,329 Construction in progress 903 7,885 181,732 208,219 Less: Accumulated depreciation and amortization (95,269 ) (106,642 ) Property, plant, and equipment, net $ 86,463 $ 101,577 Property, plant, and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. The reviews are conducted at the lowest identifiable level of cash flows. If the estimated undiscounted future cash flows related to the property, plant, and equipment are less than the carrying value, the Company recognizes a loss equal to the difference between the carrying value and the fair value, as further defined in Note 2. Impairment charges of $6.3 million , $12.7 million , and $2.8 million were recognized, using level 3 inputs, in the fiscal years ended February 3, 2018 , January 28, 2017 , and January 30, 2016 , respectively, for assets related to underperforming stores and are included in selling, general, and administrative expenses in the Consolidated Statements of Income and in impairment charges in the Consolidated Statements of Cash Flows. The impairment charges are included in the Direct segment. Depreciation and amortization expense associated with property, plant, and equipment, excluding impairment charges (in thousands): Fiscal year ended February 3, 2018 $ 19,570 Fiscal year ended January 28, 2017 19,516 Fiscal year ended January 30, 2016 19,418 |
Debt
Debt | 12 Months Ended |
Feb. 03, 2018 | |
Debt Disclosure [Abstract] | |
Debt | Debt As of February 3, 2018 and January 28, 2017 , the Company had no borrowings outstanding and availability of $125.0 million under the amended and restated credit agreement. Second Amended and Restated Credit Agreement On July 15, 2015, Vera Bradley Designs, Inc. (“VBD”), a wholly-owned subsidiary of the Company, entered into a Second Amended and Restated Credit Agreement among VBD, the lenders from time to time party thereto, JPMorgan Chase Bank, National Association, as administrative agent; Wells Fargo Bank, National Association, as syndication agent; and KeyBank National Association, as documentation agent (the “Credit Agreement”), which amended and restated the Company's prior credit agreement. The Credit Agreement provides for certain credit facilities to VBD in an aggregate principal amount not to initially exceed $125.0 million , the proceeds of which may be used for general corporate purposes of VBD and its subsidiaries, including but not limited to Vera Bradley International, LLC and Vera Bradley Sales, LLC (collectively, the “Named Subsidiaries”). Amounts outstanding under the Credit Agreement bear interest, at VBD's option, at a per annum rate equal to either (A) the Alternate Base Rate (“ABR”) plus the Applicable Margin, where the ABR is the highest of (i) the prime rate, (ii) the federal funds rate plus 0.5% , and (iii) Adjusted LIBOR for a one-month interest period plus 1% , and the Applicable Margin is a percentage ranging from 0.00% to 0.70% depending upon the Company's leverage ratio or (B) Adjusted LIBOR plus the Applicable Margin, where Adjusted LIBOR means LIBOR, as adjusted for statutory reserve requirements for eurocurrency liabilities, and Applicable Margin is a percentage ranging from 1.00% to 1.70% depending upon the Company's leverage ratio. Any loans made, or letters of credit issued, pursuant to the Credit Agreement mature on July 15, 2020 . VBD's obligations under the Credit Agreement are guaranteed by the Company and the Named Subsidiaries. The obligations of VBD under the Credit Agreement are secured by first priority security interests in all of the respective assets of VBD, the Company, and the Named Subsidiaries and a pledge of the equity interests of VBD and the Named Subsidiaries. The Credit Agreement contains various restrictive covenants, including restrictions on the Company's ability to dispose of assets, make acquisitions or investments, incur debt or liens, make distributions to stockholders or repurchase outstanding stock, enter into related party transactions and make capital expenditures, other than upon satisfaction of the conditions set forth in the Credit Agreement. The Company is also required to comply with certain financial and non-financial covenants, including maintaining a maximum leverage ratio, a minimum ratio of EBITDAR to the sum of interest expense plus rentals (as defined in the Credit Agreement), and a limit on capital expenditures. Upon an event of default, which includes certain customary events such as, among other things, a failure to make required payments when due, a failure to comply with covenants, certain bankruptcy and insolvency events, a material adverse change (as defined in the Credit Agreement), defaults under other material indebtedness, and a change in control, the lenders may accelerate amounts outstanding, terminate the agreement, and foreclose on all collateral. On October 20, 2017, VBD entered into Amendment No. 2 (the “Amendment”) to the Credit Agreement. The Amendment modifies the ratio requirements of certain financial covenants in the Credit Agreement including the maximum leverage ratio and the minimum ratio of EBITDAR to the sum of interest expense plus rentals (as defined in the Credit Agreement). The Amendment also modifies certain restrictive covenants including the acquisition of investments and the limit of investments in foreign subsidiaries. |
Income Taxes
Income Taxes | 12 Months Ended |
Feb. 03, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The components of income tax expense were as follows (in thousands): February 3, January 28, January 30, Current: Federal $ 488 $ 8,810 $ 19,823 Foreign 364 526 18 State (628 ) 1,124 2,400 224 10,460 22,241 Deferred: Federal 7,476 (1,623 ) (2,813 ) State 678 (553 ) (527 ) 8,154 (2,176 ) (3,340 ) Total income tax expense $ 8,378 $ 8,284 $ 18,901 A breakdown of the Company’s income before income taxes is as follows (in thousands): February 3, January 28, January 30, Domestic $ 13,666 $ 24,891 $ 46,386 Foreign 1,728 3,151 73 Total income before income taxes $ 15,394 $ 28,042 $ 46,459 A reconciliation of income tax expense to the amount computed at the federal statutory rate is as follows (in thousands): February 3, January 28, January 30, Federal taxes at statutory rate $ 5,067 32.9 % $ 9,815 35.0 % $ 16,261 35.0 % State and local income taxes, net of federal benefit 665 4.3 371 1.3 1,217 2.6 Impact of foreign rate differential (247 ) (1.6 ) (413 ) (1.5 ) — — Change in uncertain tax positions (632 ) (4.1 ) (1,426 ) (5.1 ) — — Change in U.S. tax rate 2,026 13.2 — — — — Deemed mandatory repatriation 345 2.2 — — — — Shortfall from stock-based compensation 1,111 7.2 17 0.1 501 1.1 Other 43 0.3 (80 ) (0.3 ) 922 2.0 Total income tax expense $ 8,378 54.4 % $ 8,284 29.5 % $ 18,901 40.7 % On December 22, 2017, the Tax Cuts and Jobs Act (the “Tax Act”) was signed into law. The Tax Act includes, among other things, a corporate tax rate decrease from 35% to 21% effective for tax years beginning after December 31, 2017, bonus depreciation that will allow for full expensing for qualified property, the transition of U.S. international taxation from a worldwide system to a territorial system with a new provision designed to tax global intangible low-taxed income ("GILTI"), and a one-time transition tax on the mandatory deemed repatriation of cumulative foreign earnings. Section 15 of the Internal Revenue Code stipulates that the Company's fiscal year ended February 3, 2018, has a blended federal statutory tax rate of approximately 32.9% , which is based on the applicable tax rates before and after the effectiveness of the Tax Act and the number of days in the year. The Company recorded $2.1 million in provisional income tax expense during the fourth quarter of fiscal 2018 based upon its understanding of the Tax Act and guidance as of the date of this filing. Of the $2.1 million , $2.0 million was related to the remeasurement of net deferred tax assets at rates which they are expected to reverse in the future and $0.3 million was related to the one-time transition tax on mandatory deemed repatriation of foreign earnings, which were partially offset by a $0.2 million income tax benefit related to the blended federal statutory rate. The Tax Act established a new minimum tax on global intangible low-taxed income and the Company is currently analyzing the provision and as a result cannot reasonably estimate an impact. The ultimate impact of the Tax Act may differ from the provisional income tax expense recognized in the consolidated financial statements during the fourth quarter of fiscal 2018. These provisional amounts may differ due to, among other things, additional analysis, changes in interpretations and assumptions that the Company has made, additional regulatory guidance issued, and any additional actions the Company may take as a result of the Tax Act. The accounting for the Tax Act is expected to be complete when the fiscal 2018 federal income tax return is filed in fiscal 2019. On December 22, 2017, the SEC staff issued Staff Accounting Bulletin No. 118 to address the application of U.S. GAAP in situations when a registrant does not have the necessary information available, prepared, or analyzed (including computations) in reasonable detail to complete the accounting for certain income tax effects of the Tax Act. Consistent with this guidance, any resulting changes to the provisional estimates and amounts not yet estimated will be recognized as an adjustment to tax expense in the reporting period that the amounts are determined. Deferred income taxes reflect the net tax effects of temporary differences between the book and tax bases of assets and liabilities. Significant components of deferred tax assets and liabilities were as follows (in thousands): February 3, January 28, Deferred tax assets: Compensation and benefits $ 992 $ 5,420 Inventories 1,576 2,718 Deferred credits from landlords 7,305 11,722 Other 2,156 4,913 Total deferred tax assets 12,029 24,773 Deferred tax liabilities: Property, plant, and equipment (4,386 ) (8,505 ) Other (2,258 ) (2,729 ) Total deferred tax liabilities (6,644 ) (11,234 ) Net deferred tax assets $ 5,385 $ 13,539 As of February 3, 2018 , the Company remeasured the net deferred tax assets at the applicable tax rate of 21% in accordance with the Tax Act. The Company recorded a provisional net adjustment to deferred income tax expense of $2.0 million for the fiscal year ended February 3, 2018, for certain deferred tax assets and deferred tax liabilities. The final impact may differ from the Company's reasonable estimate due to, among other things, additional analyses, changes in interpretations and assumptions that were made, additional regulatory guidance that may be issued, and actions that the Company may take as a result of the Tax Act. Uncertain Tax Positions A reconciliation of the beginning and ending gross amount of unrecognized tax benefits (excluding interest and penalties) is as follows (in thousands): February 3, January 28, January 30, Beginning balance $ 877 $ 3,099 $ 3,018 Net increases in unrecognized tax benefits as a result of current year activity — 15 81 Net increases in unrecognized tax benefits as a result of prior year activity 210 — — Reductions for tax positions of prior years (877 ) (1,695 ) — Settlements — (214 ) — Lapse of statute of limitations (106 ) (328 ) — Ending balance $ 104 $ 877 $ 3,099 As of February 3, 2018 , $0.1 million of total unrecognized tax benefits, net of federal benefit, would, if recognized, favorably affect the effective tax rate in future periods. Total unrecognized tax benefits are currently not expected to decrease by a significant amount in the next twelve months. The Company recognized an immaterial amount of interest only, no penalties, related to unrecognized tax benefits in the fiscal years ended February 3, 2018 , January 28, 2017 , and January 30, 2016 . Unrecognized tax benefits are included within long-term liabilities in the Company's Consolidated Balance Sheets. The Company files income tax returns in the U.S. federal jurisdiction and various U.S. state and foreign jurisdictions. The Company is subject to U.S. federal income tax examinations for fiscal years 2015 and forward. With a few exceptions, the Company is subject to audit by various state and foreign taxing authorities for fiscal 2014 through the current fiscal year. |
Leases
Leases | 12 Months Ended |
Feb. 03, 2018 | |
Leases [Abstract] | |
Leases | Leases The Company is party to non-cancellable operating leases. Future minimum lease payments under the non-cancellable operating leases through expiration are as follows (in thousands and by fiscal year): Fiscal Year Amount 2019 $ 32,778 2020 31,684 2021 30,877 2022 28,522 2023 24,852 Thereafter 54,864 $ 203,577 Rental expense for all leases was as follows (in thousands): Fiscal year ended February 3, 2018 $ 35,663 Fiscal year ended January 28, 2017 33,925 Fiscal year ended January 30, 2016 32,456 Lease terms generally range from three to ten years, generally ten years in the case of the Company's retail stores, with options to renew for varying terms. Future minimum lease payments relate primarily to the lease of retail space. Additionally, several lease agreements contain a provision for payments based on a percentage of sales in addition to the stated lease payments. Percentage rent expense was $3.1 million , $2.8 million , and $2.4 million for fiscal years ended February 3, 2018 , January 28, 2017 , and January 30, 2016 , respectively. |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Feb. 03, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation | Stock-Based Compensation The Company’s stock-based compensation consists of awards of restricted stock and restricted stock units. The Company recognized stock-based compensation expense of $3.1 million , $4.0 million , and $5.0 million in the fiscal years ended February 3, 2018 , January 28, 2017 , and January 30, 2016 , respectively. Awards of Restricted-Stock Units The Company reserved 6,076,001 shares of common stock for issuance or transfer under the 2010 Equity and Incentive Plan, which allows for grants of restricted stock units, as well as other equity awards. As of February 3, 2018 , there were 4,787,501 of shares remaining in that program. During the fiscal year ended February 3, 2018 , the Company granted a total of 507,423 time-based and performance-based restricted stock units to certain employees and non-employee directors under the 2010 Equity and Incentive Plan with an aggregate fair value of $4.7 million . The Company determined the fair value of the units based on the closing price of the Company’s common stock on the grant date. The majority of time-based restricted stock units vest and settle in shares of the Company’s common stock, on a one -for-one basis, in equal installments on each of the first three anniversaries of the grant date. Restricted stock unit awards issued to non-employee directors vest after a one -year period from the grant date. The Company is recognizing the expense relating to these awards, net of estimated forfeitures, on a straight-line basis over the vesting period. The majority of performance-based restricted stock units vest upon the completion of a three -year period of time (cliff vesting), subject to the employee’s continuing employment throughout the three-year performance period and the Company’s achievement of annual earnings per share targets, or other Company performance targets, during the three-year performance period. The Company is recognizing the expense relating to these units, net of estimated forfeitures and based on the probable outcome of achievement of the financial targets, on a straight-line basis over the vesting period. The following table summarizes information about restricted-stock units as of and for the year ended February 3, 2018 (units in thousands): Time-based Restricted Stock Units Performance-based Restricted Stock Units Number of Units Weighted- Average Grant Date Fair Value (per unit) Number of Units Weighted- Average Grant Date Fair Value (per unit) Nonvested units outstanding at January 28, 2017 487 $ 18.04 375 $ 19.10 Granted 295 9.31 212 9.31 Vested (245 ) 18.08 — — Forfeited (136 ) 13.71 (224 ) 18.35 Nonvested units outstanding at February 3, 2018 401 $ 12.38 363 $ 13.83 As of February 3, 2018 , there was $3.0 million of total unrecognized compensation cost, net of estimated forfeitures, related to nonvested restricted stock units. That cost is expected to be recognized over a weighted average period of 1.3 years , subject to meeting performance conditions. The total fair value of restricted stock units for which restrictions lapsed (vested) during fiscal 2018 was $2.1 million . |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Feb. 03, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Payment Card Incident Description of Event On September 15, 2016, the Company received information from law enforcement regarding a potential data security issue related to its retail store network. Findings from the investigation showed unauthorized access to the Company's payment processing system and the installation of a program that looked for payment card data. The program was specifically designed to find track data in the magnetic stripe of a payment card that may contain the card number, cardholder name, expiration date, and internal verification code as the data was being routed through the affected payment system. There is no indication that other customer information was at risk. Payment cards used at Vera Bradley store locations between July 25, 2016 and September 23, 2016 may have been affected. Not all cards used in stores during this time frame were affected. Cards used on verabradley.com were not affected. The Company has resolved this incident and continues to work with a computer security firm to further strengthen the security of its systems to help prevent events of this nature from happening in the future. The Company continues to support law enforcement’s investigation and also promptly notified the payment card networks so that the banks that issue payment cards could initiate heightened monitoring on the affected cards. Claims have been received by some, not all, of the payment card networks for this incident which is expected to be covered by the Company's insurance, as described below. Expenses Incurred and Amounts Accrued During the fiscal years ended February 3, 2018 and January 28, 2017 , the Company recorded an immaterial amount of expense relating to the Payment Card Incident. Expenses included remediation activities during fiscal 2018 and costs to investigate the Payment Card Incident and obtain legal and other professional services during fiscal 2017. There was no incremental expense associated with the claims received in fiscal 2018 as they are expected to be reimbursable and probable of recovery under the Company's insurance coverage. The insurance deductible was accrued during fiscal 2017. Future Costs Additional payment card companies and associations may require the Company to reimburse them for unauthorized card charges and costs to replace cards and may also impose fines or penalties in connection with the Payment Card Incident, and enforcement authorities may also impose fines or other remedies against the Company. At this time, the Company cannot reasonably estimate the potential loss or range of loss related to the additional fines or penalties that may be assessed, if any. The Payment Card Incident, including customer response and any possible third party claims or additional assessments from payment card companies, could materially adversely affect the Company's financial condition and operating results. However, the Company expects its insurance coverage will offset most of the expenses for the investigation and other legal and professional services associated with the incident, possible third party claims, as well as fines, penalties, or other expenses, if any additional, imposed by payment card companies as discussed above. Insurance Coverage The Company maintains $15.0 million of cyber security insurance coverage above a $0.1 million deductible. Other Commitments and Contingencies The Company is also subject to various claims and contingencies arising in the normal course of business, including those relating to product liability, legal claims, employee benefits, environmental, and other matters. Management believes that at this time it is not probable that any of these claims will have a material adverse effect on the Company’s financial condition, results of operations, or cash flows. However, the outcomes of legal proceedings and claims brought against the Company are subject to uncertainty and future developments could cause these actions or claims, individually or in the aggregate, to have a material adverse effect on the Company’s financial condition, results of operations, or cash flows of a particular reporting period. |
401(k) Profit Sharing Plan and
401(k) Profit Sharing Plan and Trust | 12 Months Ended |
Feb. 03, 2018 | |
Disclosure Profit Sharing Plan And Trust Additional Information [Abstract] | |
401(k) Profit Sharing Plan and Trust | 401(k) Profit Sharing Plan and Trust The Company has a 401(k) profit sharing plan and trust for all qualified employees and provides a 100% match for the first 3% of employee contributions and a 50% match for the next 2% of employee contributions, for a maximum Company match of 4% of employee contributions, limited to the annual legal allowable limit. Additionally, the Company has the option of making discretionary profit sharing payments to the plan as approved by the board of directors. As of February 3, 2018 , January 28, 2017 , and January 30, 2016 , no discretionary profit sharing payments had been approved. The Company recognizes 401(k) Company contributions within cost of sales, as the related revenues are recognized, for employees related to distribution center, sourcing, and other related functions and selling, general, and administrative expenses for all other employees. Total Company contributions to the plan were as follows (in thousands): Fiscal year ended February 3, 2018 $ 1,533 Fiscal year ended January 28, 2017 1,624 Fiscal year ended January 30, 2016 1,965 |
Related-Party Transactions
Related-Party Transactions | 12 Months Ended |
Feb. 03, 2018 | |
Related Party Transactions [Abstract] | |
Related-Party Transactions | Related-Party Transactions During each of the fiscal years ended February 3, 2018 and January 28, 2017 , the Company made charitable contributions of approximately $0.1 million to the Vera Bradley Foundation for Breast Cancer (the “Foundation”). The Company did not make charitable contributions during the fiscal year ended January 30, 2016. The Foundation was founded by two of the Company’s directors, who are also on the board of directors of the Foundation. The liability associated with commitments to the Foundation was approximately $0.4 million as of February 3, 2018 and January 28, 2017 . The liability consisted of pass-through donations from customers and is included in other accrued liabilities in the Consolidated Balance Sheets. The associated expense for contributions to the Foundation, which is included in selling, general, and administrative expenses, was as follows (in thousands): Fiscal year ended February 3, 2018 $ 140 Fiscal year ended January 28, 2017 53 Fiscal year ended January 30, 2016 — |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Feb. 03, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share Basic net income per share is computed based on the weighted-average number of common shares outstanding during the period. Diluted net income per share is computed based on the weighted-average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding restricted stock and restricted-stock units. The components of basic and diluted net income per share are as follows (in thousands, except per share data): Fiscal Year Ended February 3, January 28, January 30, Numerator: Net income $ 7,016 $ 19,758 $ 27,558 Denominator: Weighted-average number of common shares (basic) 35,925 36,838 38,795 Dilutive effect of stock-based awards 101 132 66 Weighted-average number of common shares (diluted) 36,026 36,970 38,861 Earnings per share: Basic $ 0.20 $ 0.54 $ 0.71 Diluted $ 0.19 $ 0.53 $ 0.71 As of February 3, 2018 , January 28, 2017 , and January 30, 2016 , there were an immaterial number of additional shares issuable upon the vesting of restricted stock units that were excluded from the diluted share calculations because they were anti-dilutive. The diluted share calculations include performance-based restricted stock units for completed performance periods. |
Common Stock
Common Stock | 12 Months Ended |
Feb. 03, 2018 | |
Equity [Abstract] | |
Common Stock | Common Stock On December 8, 2015, the Company's board of directors approved a share repurchase program (the “2015 Share Repurchase Program”) authorizing up to $50.0 million of repurchases of shares of the Company's common stock. On November 30, 2017, the board of directors authorized the Company to extend the 2015 Share Repurchase Plan to December 31, 2018. The prior share repurchase program (the “2014 Share Repurchase Program”) was approved by the board of directors on September 9, 2014, and authorized share repurchases up to $40.0 million . The 2014 Share Repurchase Program was completed in fiscal 2016. During the fiscal year ended February 3, 2018 , the Company purchased and held 934,031 shares at an average price of $8.47 per share, excluding commissions, for an aggregate amount of $7.9 million , under the 2015 Share Repurchase Program. During the fiscal year ended January 28, 2017 , the Company purchased and held 1,606,102 shares at an average price of $15.27 per share, excluding commissions, for an aggregate amount of $24.5 million , under the 2015 Share Repurchase Program. During the fiscal year ended January 30, 2016 , the Company purchased and held 2,481,367 shares at an average price of $12.57 per share, excluding commissions, for an aggregate amount of $31.2 million . Of these purchases, 283,354 shares at an average price of $14.64 per share, for an aggregate amount of $4.1 million , were purchased under the 2015 Share Repurchase Plan. As of February 3, 2018 , there was $13.4 million remaining available to repurchase shares of the Company's common stock under the 2015 Share Repurchase Program. As of February 3, 2018 , the Company held as treasury shares 5,642,485 shares of its common stock at an average price of $13.57 per share, excluding commissions, for an aggregate carrying amount of $76.6 million . The Company’s treasury shares may be issued under the 2010 Equity and Incentive Plan or for other corporate purposes. |
Restructuring and Other Charges
Restructuring and Other Charges | 12 Months Ended |
Feb. 03, 2018 | |
Restructuring and Related Activities [Abstract] | |
Restructuring and Other Charges | Fifty-Two Weeks Ended January 28, 2017 Other charges recognized in selling, general, and administrative expenses during fiscal 2017 totaled $13.6 million ( $8.6 million after the associated tax benefit) and consisted of store impairment charges of $12.7 million (recognized within the Direct segment) and a severance charge of $0.9 million (recognized within corporate unallocated expenses). Refer to Note 3 herein for additional details regarding the store impairment charges. Fiscal 2017 also included a $1.6 million tax benefit (reflected in income tax expense) related to the release of certain income tax reserves. Fifty-Two Weeks Ended January 30, 2016 In the first quarter of fiscal 2016, the Company closed its manufacturing facility located in New Haven, Indiana. The Company incurred restructuring and other charges during the first quarter of fiscal 2016 of approximately $3.4 million ( $2.1 million after the associated tax benefit), related to the facility closing. These pre-tax charges included: • Severance and benefit costs of approximately $1.7 million ; • Lease termination costs of approximately $0.7 million ; • Inventory-related charges of approximately $0.6 million ; and • Other associated net costs, which include accelerated depreciation related to fixed assets, of approximately $0.4 million . These charges are reflected in cost of sales in the Company's Consolidated Financial Statements ( $2.3 million was recognized within the Direct segment and $1.1 million was recognized within the Indirect segment). All production from the facility was absorbed by the Company’s third-party manufacturing suppliers. Additional charges, incurred in the first quarter of fiscal 2016, totaled approximately $5.3 million ( $3.3 million after the associated tax benefit). These pre-tax charges included: • $2.8 million for store impairment charges (recognized within the Direct segment; refer to Note 3 herein for additional details); • $1.3 million for a severance charge (recognized within corporate unallocated expenses); and • $1.2 million due to a retail store early lease termination agreement (recognized within the Direct segment). The first quarter of fiscal 2016 also included a $0.6 million tax expense (reflected in income tax expense) related to an increase in income tax reserves for uncertain federal and state tax positions related to research and development tax credits. |
Investments (Notes)
Investments (Notes) | 12 Months Ended |
Feb. 03, 2018 | |
Schedule of Investments [Abstract] | |
Investments | Investments Cash Equivalents Investments classified as cash equivalents relate to highly-liquid investments with a maturity of three months or less at the date of purchase. As of February 3, 2018 , these investments in the Company's portfolio consisted of commercial paper, a money market fund, and municipal securities. Short-Term Investments As of February 3, 2018 , short-term investments consisted of a certificate of deposit, municipal securities, U.S. and non-U.S. corporate debt securities, and commercial paper with a maturity within one year of the balance sheet date. These securities are classified as available-for-sale; therefore, unrealized gains and losses are recorded within other comprehensive income. Interest income earned is recorded within interest (income) expense, net, in the Company's Consolidated Statements of Income. As of January 28, 2017 , short-term investments consisted of a certificate of deposit with an original maturity of one year and a one-time option to accelerate maturity to 31 days without penalty. The certificate of deposit matured during the first quarter of fiscal 2018. Interest income from the certificate of deposit is included in interest (income) expense, net, in the Company's Consolidated Statements of Income. The Company held $54.2 million and $30.2 million in short-term investments as of February 3, 2018 and January 28, 2017 , respectively. The following table summarizes the Company's short-term investments (in thousands): February 3, 2018 January 28, 2017 Certificate of deposit $ 25,032 $ 30,152 Municipal securities 12,942 — U.S. corporate debt securities 8,727 — Non-U.S. corporate debt securities 6,451 — Commercial paper 998 — Total short-term investments $ 54,150 $ 30,152 Long-Term Investments As of February 3, 2018 , long-term investments consisted of municipal securities, U.S. and non-U.S. corporate debt securities, and U.S. treasury securities with a maturity greater than one year from the balance sheet date. These securities are classified as available-for-sale; therefore, unrealized gains and losses are recorded within other comprehensive income. Interest income earned is recorded within interest (income) expense, net, in the Company's Condensed Consolidated Statements of Income. The Company held $15.5 million in long-term investments as of February 3, 2018 . The Company did not have long-term investments as of January 28, 2017 . The following table summarizes the Company's long-term investments (in thousands): February 3, 2018 January 28, 2017 Municipal securities $ 5,098 $ — U.S. corporate debt securities 4,543 — U.S. treasury securities 3,099 — Non-U.S. corporate debt securities 2,775 — Total long-term investments $ 15,515 $ — There were no material gross unrealized gains or losses on available-for-sale securities as of February 3, 2018 and January 28, 2017 . |
Segment Reporting
Segment Reporting | 12 Months Ended |
Feb. 03, 2018 | |
Segment Reporting [Abstract] | |
Segment Reporting | Segment Reporting The Company has two operating segments, which are also its reportable segments: Direct and Indirect. These operating segments are components of the Company for which separate financial information is available and for which operating results are evaluated on a regular basis by the chief operating decision maker in deciding how to allocate resources and in assessing the performance of the segments. The Direct segment includes the Company’s full-line and factory outlet stores, the Company’s website, verabradley.com, the Company’s online outlet site, direct-to-consumer eBay sales, and the annual outlet sale. Revenues generated through this segment are driven through the sale of Company-branded products from Vera Bradley to end consumers. The Indirect segment represents revenues generated through the distribution of Company-branded products to specialty retailers representing approximately 2,400 locations, substantially all of which are located in the United States, as well as select department stores, national accounts, third party e-commerce sites, third-party inventory liquidators, and licensing agreements. No customer accounted for 10% or more of the Company’s net revenues during fiscal years 2018 , 2017 , and 2016 . Corporate costs represent the Company’s administrative expenses, which include, but are not limited to: human resources, legal, finance, information technology, and various other corporate-level-activity-related expenses. All intercompany-related activities are eliminated in consolidation and are excluded from the segment reporting. Company management evaluates segment operating results based on several indicators. The primary or key performance indicators for each segment are net revenues and operating income. The table below represents key financial information for each of the Company’s operating and reportable segments, Direct and Indirect. The accounting policies of the segments are the same as those described in Note 2. The Company does not report depreciation or amortization expense, total assets, or capital expenditures by segment as such information is neither used by management nor accounted for at the segment level. Net revenues and operating income information for the Company’s reportable segments consisted of the following (in thousands): Fiscal Year Ended February 3, January 28, January 30, Segment net revenues: Direct $ 351,786 $ 355,175 $ 351,286 Indirect 102,862 130,762 151,312 Total $ 454,648 $ 485,937 $ 502,598 Segment operating income: Direct $ 60,979 $ 62,577 $ 74,114 Indirect 34,763 50,955 60,409 Total $ 95,742 $ 113,532 $ 134,523 Reconciliation: Segment operating income $ 95,742 $ 113,532 $ 134,523 Less: Unallocated corporate expenses (80,761 ) (85,312 ) (87,801 ) Operating income $ 14,981 $ 28,220 $ 46,722 Sales outside of the United States were immaterial for all periods presented. Revenues to external customers for Vera Bradley brand products are attributable to sales of bags, travel, accessories, and home items. Other revenues to external customers primarily include revenues from our apparel/footwear, stationery, freight, licensing, merchandising, and gift card breakage. Net revenues by product categories are as follows (in thousands): Fiscal Year Ended February 3, January 28, January 30, Net revenues: Bags $ 184,773 $ 207,765 $ 215,835 Travel 118,655 119,082 125,279 Accessories 100,246 106,223 112,066 Home 30,819 27,574 22,729 Other 20,155 25,293 26,689 Total $ 454,648 $ 485,937 $ 502,598 As of February 3, 2018 and January 28, 2017 , substantially all of the Company’s long-lived assets were located in the United States. |
Quarterly Financial Information
Quarterly Financial Information (Unaudited) | 12 Months Ended |
Feb. 03, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information (Unaudited) | Quarterly Financial Information (Unaudited) The table below sets forth selected quarterly financial data for each of the last two fiscal years (in thousands, except per share data). The fourth quarter of fiscal 2018 was fourteen weeks in duration. Each of the other quarters presented was thirteen weeks in duration. Fiscal Year Ended February 3, 2018 First Quarter (1) Second Quarter (2) Third Quarter (3) Fourth Quarter (4)(5)(6) (unaudited) (unaudited) (unaudited) (unaudited) Net revenues $ 96,135 $ 112,418 $ 114,095 $ 132,000 Gross profit 52,700 63,293 63,829 74,187 Operating (loss) income (4,804 ) 3,709 462 15,614 Net (loss) income (4,049 ) 2,193 359 8,513 Basic net (loss) income per share (0.11 ) 0.06 0.01 0.24 Diluted net (loss) income per share (0.11 ) 0.06 0.01 0.24 (1) Includes $1.3 million ( $0.8 million after the associated tax benefit) for severance charges. Refer to Note 13 herein for additional information. (2) Includes charges of $2.3 million for strategic consulting related to Vision 20/20, $1.2 million for severance, and $0.3 million for lease termination ( $2.4 million collectively after the associated tax benefit). Refer to Note 13 herein for additional information. (3) Includes Vision 20/20-related charges of $5.9 million for store impairment, $2.9 million for severance, $2.3 million for strategic consulting, $0.9 million for inventory adjustments, and $0.6 million for other Vision 20/20. Collectively, after the associated tax benefit, the charges were $7.9 million . Refer to Note 3 and Note 13 herein for additional information. (4) Includes Vision 20/20-related charges of $1.2 million for severance, $0.4 million for store impairment, and $0.2 million for other Vision 20/20 ( $1.2 million collectively after the associated tax benefit). Refer to Note 3 and Note 13 herein for additional information. (5) Includes a $2.1 million net tax charge related to the enactment of the Tax Act. Refer to Note 5 herein for additional information. (6) Includes an extra week which contributed approximately $4.1 million in net revenues and added an estimated $0.01 to diluted net income per share. Fiscal Year Ended January 28, 2017 First Quarter Second Quarter (1) Third Quarter (2)(3) Fourth Quarter (4) (unaudited) (unaudited) (unaudited) (unaudited) Net revenues $ 105,181 $ 119,245 $ 126,662 $ 134,849 Gross profit 59,656 68,388 72,913 75,089 Operating income 3,857 8,303 11,402 4,658 Net income 2,418 5,109 8,780 3,451 Basic net income per share 0.06 0.14 0.24 0.10 Diluted net income per share 0.06 0.14 0.24 0.09 (1) Includes charges of $1.6 million for store impairment and $0.9 million for severance ( $1.6 million collectively after the associated tax benefit). Refer to Note 3 herein for additional information regarding store impairments. (2) Includes $0.6 million for store impairment charges ( $0.4 million after the associated tax benefit). Refer to Note 3 herein for additional information. (3) Includes a $1.6 million income tax benefit for the release of certain income tax reserves. (4) Includes $10.5 million for store impairment charges ( $6.6 million after the associated tax benefit). Refer to Note 3 herein for additional information. Information in any one Quarterly period should not be considered indicative of annual results due to the effect of seasonality of the business. |
Description of the Company (Pol
Description of the Company (Policies) | 12 Months Ended |
Feb. 03, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. The Company has eliminated intercompany balances and transactions in consolidation. |
Fiscal Period, Policy [Policy Text Block] | Fiscal Periods The Company utilizes a 52 - 53 week fiscal year ended on the Saturday closest to January 31. As such, fiscal year 2018 , ending on February 3, 2018 , reflected a 53-week period. Fiscal years 2017 and 2016 , ending on January 28, 2017 and January 30, 2016 , respectively, each reflected a 52 -week period |
Summary of Significant Accoun25
Summary of Significant Accounting Policies Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Feb. 03, 2018 | |
Accounting Policies [Abstract] | |
Use of Significant Estimates | Use of Significant Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of the Company’s assets, liabilities, revenues, and expenses, as well as the disclosures relating to contingent assets and liabilities at the date of the consolidated financial statements. Significant areas requiring the use of management estimates include the valuation of inventories, accounts receivable valuation allowances, sales return allowances, and the useful lives of assets for depreciation or amortization. Actual results could differ from these estimates. The Company revises its estimates and assumptions as new information becomes available. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents represent cash on hand, deposits with financial institutions, and investments with an original maturity of three months or less. |
Inventories | Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined using the first-in, first-out (“FIFO”) method. Appropriate consideration is given to obsolescence, excess quantities, and other factors, including the popularity of a pattern or product, in evaluating net realizable value. |
Property, Plant, and Equipment | Property, Plant, and Equipment Property, plant, and equipment are carried at cost and depreciated or amortized over the following estimated useful lives using the straight-line method: Buildings and building improvements .............................................. 39.5 years Land improvements ........................................................................... 5 – 15 years Furniture and fixtures, and leasehold improvements ........................ 3 – 10 years Equipment ......................................................................................... 7 years Vehicles ............................................................................................. 5 years Computer equipment and software ................................................... 3 – 5 years Leasehold improvements are amortized over the shorter of the life of the asset or the lease term. Lease terms typically range from three to ten years. When a decision is made to abandon property, plant, and equipment prior to the end of the previously estimated useful life, depreciation or amortization estimates are revised to reflect the use of the asset over the shortened estimated useful life. At the time of disposal, the cost of assets sold or retired and the related accumulated depreciation or amortization are removed from the accounts and any resulting loss is included in the Consolidated Statements of Income. Property, plant, and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. The reviews are conducted at the lowest identifiable level of cash flows. If the estimated undiscounted future cash flows related to the property, plant, and equipment are less than the carrying value, the Company recognizes a loss equal to the difference between the carrying value and the fair value, as further defined below in “Fair Value of Financial Instruments.” Routine maintenance and repair costs are expensed as incurred. The Company capitalizes certain costs incurred in connection with acquiring, modifying, and installing internal-use software. Capitalized costs are included in property, plant, and equipment and are amortized over three to five years . Software costs that do not meet capitalization criteria are expensed as incurred. |
Revenue Recognition and Accounts Receivable | Revenue Recognition and Accounts Receivable Revenue from the sale of the Company’s products is recognized upon customer receipt of the product when collection of the associated receivables is reasonably assured, persuasive evidence of an arrangement exists, the sales price is fixed and determinable, and ownership and risk of loss have been transferred to the customer, which, for e-commerce and most Indirect sales, reflects an adjustment for shipments that customers have not yet received. The adjustment of these shipments is based on actual delivery dates to the customer. Included in net revenues are product sales to Direct and Indirect customers, including amounts billed to customers for shipping fees. Costs related to shipping of product are classified in cost of sales in the Consolidated Statements of Income. Net revenues exclude sales taxes collected from customers and remitted to governmental authorities. Historical experience provides the Company the ability to reasonably estimate the amount of product sales that customers will return. Product returns are often resalable through the Company’s annual outlet sale or other channels. Additionally, the Company reserves for customer allowances for certain Indirect retailers based upon various contract terms and other potential product credits granted to Indirect retailers. The returns and credits reserve and the related activity for each fiscal year presented were as follows (in thousands): Balance at Beginning of Year Provision Charged to Net Revenues Allowances Taken / Written Off Balance at End of Year Fiscal year ended February 3, 2018 $ 5,360 $ 23,504 $ (26,169 ) $ 2,695 Fiscal year ended January 28, 2017 2,317 32,905 (29,862 ) 5,360 Fiscal year ended January 30, 2016 2,173 25,707 (25,563 ) 2,317 The Company establishes an allowance for doubtful accounts based on historical experience and customer-specific identification and believes that collections of receivables, net of the allowance for doubtful accounts, are reasonably assured. The allowance for doubtful accounts was approximately $0.9 million and $0.6 million as of February 3, 2018 , and January 28, 2017 , respectively. The Company sells gift cards with no expiration dates to customers and does not charge administrative fees on unused gift cards. Gift cards issued by the Company are recorded as a liability until they are redeemed, at which point revenue is recognized. |
Cost of Sales | Cost of Sales Cost of sales includes material and labor costs, freight, inventory shrinkage, operating lease costs, duty, and other operating expenses, including depreciation of the Company’s distribution center and equipment. Costs and related expenses to purchase and distribute the products are recorded as cost of sales when the related revenues are recognized. |
Operating Leases and Tenant-Improvement Allowances | Operating Leases and Tenant-Improvement Allowances The Company has leases that contain rent holidays and predetermined, fixed escalations of minimum rentals. For each of these leases, the Company recognizes the related rent expense on a straight-line basis commencing on the date of initial possession of the leased property. The Company records the difference between the recognized rent expense and the amount payable under the lease as a deferred rent liability. As of February 3, 2018 and January 28, 2017 , deferred rent liability was $12.9 million and $12.7 million , respectively, and is included within long-term liabilities on the Consolidated Balance Sheets. The Company receives tenant-improvement allowances from some of the landlords of its leased properties. These allowances generally are in the form of cash received by the Company from its landlords as part of the negotiated lease terms. The Company records each tenant-improvement allowance as a deferred credit and amortizes the allowance on a straight-line basis as a reduction to rent expense over the term of the lease, commencing on the possession date. |
Store Pre-Opening, Occupancy, and Operating Costs | Store Pre-Opening, Occupancy, and Operating Costs The Company charges costs associated with the opening of new stores to selling, general, and administrative expenses as incurred. Selling, general, and administrative expenses also include store operating costs, store employee compensation, and store occupancy and supply costs. |
Stock-Based Compensation | Stock-Based Compensation The Company accounts for stock-based compensation using the fair-value recognition provisions of Accounting Standards Codification 718, Stock Compensation . Under these provisions, for its awards of restricted stock and restricted-stock units, the Company recognizes stock-based compensation expense in an amount equal to the fair market value of the underlying stock on the grant date of the respective award. The Company recognizes this expense, net of estimated forfeitures, on a straight-line basis over the requisite service period. |
Other Income and Advertising Costs | Other Income and Advertising Costs The Company expenses advertising costs at the time the promotion first appears in media, in stores, or on the website, and includes those costs in selling, general, and administrative expenses in the Consolidated Statements of Income. The Company classifies the related recovery of a portion of such costs from Indirect retailers as other income in the Consolidated Statements of Income. Total advertising expense was as follows (in thousands): Fiscal year ended February 3, 2018 $ 26,953 Fiscal year ended January 28, 2017 32,222 Fiscal year ended January 30, 2016 33,392 Total recovery from Indirect retailers was as follows (in thousands): Fiscal year ended February 3, 2018 $ 367 Fiscal year ended January 28, 2017 1,000 Fiscal year ended January 30, 2016 2,180 |
Debt-Issuance Costs | Debt-Issuance Costs Unamortized debt-issuance costs totaled $0.5 million as of February 3, 2018 , and $0.6 million as of January 28, 2017 , and are included in other assets on the Consolidated Balance Sheets. Fiscal 2018 included $0.1 million of additional debt-issuance costs for Amendment No. 2 to the second amended and restated credit agreement which is being amortized over the remaining term of the agreement. Refer to Note 4 herein for additional information. Amortization expense of $0.2 million is included in interest expense in the Consolidated Statements of Income for each of the fiscal years ended February 3, 2018 , January 28, 2017 , and January 30, 2016 . |
Fair Value of Financial Instruments | Fair Value of Financial Instruments Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities measured at fair value are classified using the following hierarchy, which is based upon the transparency of inputs to the valuation as of the measurement date: • Level 1 – Quoted prices in active markets for identical assets or liabilities; • Level 2 – Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; • Level 3 – Unobservable inputs based on the Company’s own assumptions. The classification of fair value measurements within the hierarchy is based upon the lowest level of input that is significant to the measurement. The carrying amounts reflected on the Consolidated Balance Sheets for cash and cash equivalents, accounts receivable, other current assets, and accounts payable as of February 3, 2018 and January 28, 2017 , approximated their fair values. |
Income Taxes | Income Taxes The Company accrues income taxes payable or refundable and recognizes deferred tax assets and liabilities based on differences between the book and tax bases of assets and liabilities. The Company measures deferred tax assets and liabilities using enacted rates in effect for the years in which the differences are expected to reverse, and recognizes the effect of a change in enacted rates in the period of enactment. As such, the Company recognized additional income tax expense of $2.1 million during fiscal 2018 upon the enactment of the Tax Cuts and Jobs Act. Refer to Note 5 herein for additional information. The Company establishes liabilities for uncertain positions taken or expected to be taken in income tax returns, using a more-likely-than-not recognition threshold. The Company includes in income tax expense any interest and penalties related to uncertain tax positions. |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements Recently Issued Accounting Pronouncements Not Yet Adopted In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers. This guidance requires companies to recognize revenue in a manner that depicts the transfer of promised goods or services to customers in amounts that reflect the consideration to which a company expects to be entitled in exchange for those goods or services. The new standard also will result in enhanced disclosures about the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The standard allows for either a full retrospective or a modified retrospective transition method. In August 2015, the FASB issued ASU 2015-14 to defer the effective date of ASU 2014-09 for all entities by one year to annual periods beginning after December 15, 2017, including interim periods within that reporting period, which for the Company is February 4, 2018 (the beginning of the Company's fiscal 2019). Earlier application is permitted as of the original effective date, annual reporting periods beginning after December 2016, including interim periods within that reporting period. The Company has completed its assessment regarding the impact of the adoption of the standard on its consolidated financial statements and determined that the standard will impact the Company's adjustments to revenue for shipments not yet received, recognition of revenue for unredeemed gift cards, and recognition of licensing revenue. The Company will no longer adjust revenue for shipments not yet received at each reporting period as it will recognize revenue as control is passed to the customer. It was determined that control is passed to the customer upon shipment, consistent with when legal title is passed. This will accelerate the recognition of revenue at each reporting period compared to the Company's historical practice. Revenue for unredeemed gift cards will be estimated and recognized based on the historical patterns of gift card redemption. Historically, the Company recognized revenue for gift card breakage when the likelihood of the customer exercising their remaining rights became remote. This will accelerate the recognition of gift card breakage revenue at each reporting period compared to the Company's historical practice. Revenue associated with contractually guaranteed minimum royalties in sales-based royalty arrangements will be recognized straight-line over the remaining license period once determined that the minimum sales level will not be achieved. Historically, the Company recognized any excess of the guaranteed minimum royalty over the actual royalties earned at the end of the license period. The Company will adopt the standard in the first quarter of fiscal 2019 using the modified retrospective method with a cumulative adjustment to beginning retained earnings. The Company expects this cumulative adjustment and the future impact to the Company's Consolidated Balance Sheets and Consolidated Statements of Income to be immaterial. In February 2016, the FASB issued ASU 2016-02, Leases, which increases transparency and comparability among organizations by requiring lessees to recognize assets and liabilities on the balance sheet for the rights and obligations created by leases and disclosing key information about leasing arrangements. This guidance is effective for interim and annual periods beginning on or after December 15, 2018. The Company has operating leases at all of its retail stores; therefore, the adoption of this standard will result in a material increase of assets and liabilities on the Company's Consolidated Balance Sheets. The Company is continuing to evaluate the impact on its consolidated results of operations and cash flows. |
Summary of Significant Accoun26
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Feb. 03, 2018 | |
Accounting Policies [Abstract] | |
Schedule of Estimated Useful Lives | Property, plant, and equipment are carried at cost and depreciated or amortized over the following estimated useful lives using the straight-line method: Buildings and building improvements .............................................. 39.5 years Land improvements ........................................................................... 5 – 15 years Furniture and fixtures, and leasehold improvements ........................ 3 – 10 years Equipment ......................................................................................... 7 years Vehicles ............................................................................................. 5 years Computer equipment and software ................................................... 3 – 5 years |
Schedule of Returns and Credits Reserve and Related Activity | The returns and credits reserve and the related activity for each fiscal year presented were as follows (in thousands): Balance at Beginning of Year Provision Charged to Net Revenues Allowances Taken / Written Off Balance at End of Year Fiscal year ended February 3, 2018 $ 5,360 $ 23,504 $ (26,169 ) $ 2,695 Fiscal year ended January 28, 2017 2,317 32,905 (29,862 ) 5,360 Fiscal year ended January 30, 2016 2,173 25,707 (25,563 ) 2,317 |
Schedule of Total Advertising Expense | Total advertising expense was as follows (in thousands): Fiscal year ended February 3, 2018 $ 26,953 Fiscal year ended January 28, 2017 32,222 Fiscal year ended January 30, 2016 33,392 |
Schedule of Total Recovery from Indirect Retailers | Total recovery from Indirect retailers was as follows (in thousands): Fiscal year ended February 3, 2018 $ 367 Fiscal year ended January 28, 2017 1,000 Fiscal year ended January 30, 2016 2,180 |
Schedule of Fair Value Measurement, Assets Measured on Recurring Basis | The following table details the fair value measurements of the Company's investments as of February 3, 2018 and January 28, 2017 (in thousands): Level 1 Level 2 Level 3 February 3, 2018 January 28, 2017 February 3, 2018 January 28, 2017 February 3, 2018 January 28, 2017 Cash equivalents (1) $ 1,889 $ — $ 4,058 $ — $ — $ — Short-term investments: Certificate of deposit — — 25,032 30,152 — — Municipal securities — — 12,942 — — — U.S. corporate debt securities — — 8,727 — — — Non-U.S. corporate debt securities — — 6,451 — — — Commercial paper — — 998 — — — Long-term investments: Municipal securities — — 5,098 — — — U.S. corporate debt securities — — 4,543 — — — U.S. treasury securities 3,099 — — — — — Non-U.S. corporate debt securities — — 2,775 — — — (1) Cash equivalents include commercial paper, a money market fund, and municipal securities that have a maturity of three months or less at the date of purchase. Due to their short maturity, the Company believes the carrying value approximates fair value. |
Property, Plant, and Equipment
Property, Plant, and Equipment (Tables) | 12 Months Ended |
Feb. 03, 2018 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property, Plant, and Equipment | Property, plant, and equipment consisted of the following (in thousands): February 3, January 28, Land and land improvements $ 5,981 $ 5,981 Building and building improvements 46,233 46,233 Furniture, fixtures, leasehold improvements, computer equipment and software 108,351 127,791 Equipment and vehicles 20,264 20,329 Construction in progress 903 7,885 181,732 208,219 Less: Accumulated depreciation and amortization (95,269 ) (106,642 ) Property, plant, and equipment, net $ 86,463 $ 101,577 |
Depreciation and Amortization Expense Associated with Property, Plant, and Equipment | Depreciation and amortization expense associated with property, plant, and equipment, excluding impairment charges (in thousands): Fiscal year ended February 3, 2018 $ 19,570 Fiscal year ended January 28, 2017 19,516 Fiscal year ended January 30, 2016 19,418 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Feb. 03, 2018 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense | The components of income tax expense were as follows (in thousands): February 3, January 28, January 30, Current: Federal $ 488 $ 8,810 $ 19,823 Foreign 364 526 18 State (628 ) 1,124 2,400 224 10,460 22,241 Deferred: Federal 7,476 (1,623 ) (2,813 ) State 678 (553 ) (527 ) 8,154 (2,176 ) (3,340 ) Total income tax expense $ 8,378 $ 8,284 $ 18,901 |
Schedule of Company's Income Before Income Taxes | A breakdown of the Company’s income before income taxes is as follows (in thousands): February 3, January 28, January 30, Domestic $ 13,666 $ 24,891 $ 46,386 Foreign 1,728 3,151 73 Total income before income taxes $ 15,394 $ 28,042 $ 46,459 |
Schedule of Reconciliation of Income Tax Expense to Amount Computed at Federal Statutory Rate | A reconciliation of income tax expense to the amount computed at the federal statutory rate is as follows (in thousands): February 3, January 28, January 30, Federal taxes at statutory rate $ 5,067 32.9 % $ 9,815 35.0 % $ 16,261 35.0 % State and local income taxes, net of federal benefit 665 4.3 371 1.3 1,217 2.6 Impact of foreign rate differential (247 ) (1.6 ) (413 ) (1.5 ) — — Change in uncertain tax positions (632 ) (4.1 ) (1,426 ) (5.1 ) — — Change in U.S. tax rate 2,026 13.2 — — — — Deemed mandatory repatriation 345 2.2 — — — — Shortfall from stock-based compensation 1,111 7.2 17 0.1 501 1.1 Other 43 0.3 (80 ) (0.3 ) 922 2.0 Total income tax expense $ 8,378 54.4 % $ 8,284 29.5 % $ 18,901 40.7 % |
Schedule of Components of Deferred Taxes Assets and Liabilities. | Significant components of deferred tax assets and liabilities were as follows (in thousands): February 3, January 28, Deferred tax assets: Compensation and benefits $ 992 $ 5,420 Inventories 1,576 2,718 Deferred credits from landlords 7,305 11,722 Other 2,156 4,913 Total deferred tax assets 12,029 24,773 Deferred tax liabilities: Property, plant, and equipment (4,386 ) (8,505 ) Other (2,258 ) (2,729 ) Total deferred tax liabilities (6,644 ) (11,234 ) Net deferred tax assets $ 5,385 $ 13,539 |
Schedule of Reconciliation of Beginning and Ending Gross Amount of Unrecognized Tax Benefits | A reconciliation of the beginning and ending gross amount of unrecognized tax benefits (excluding interest and penalties) is as follows (in thousands): February 3, January 28, January 30, Beginning balance $ 877 $ 3,099 $ 3,018 Net increases in unrecognized tax benefits as a result of current year activity — 15 81 Net increases in unrecognized tax benefits as a result of prior year activity 210 — — Reductions for tax positions of prior years (877 ) (1,695 ) — Settlements — (214 ) — Lapse of statute of limitations (106 ) (328 ) — Ending balance $ 104 $ 877 $ 3,099 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Feb. 03, 2018 | |
Leases [Abstract] | |
Schedule of Future Minimum Lease Payments Under the Non-Cancelable Operating Leases Through Expiration | The Company is party to non-cancellable operating leases. Future minimum lease payments under the non-cancellable operating leases through expiration are as follows (in thousands and by fiscal year): Fiscal Year Amount 2019 $ 32,778 2020 31,684 2021 30,877 2022 28,522 2023 24,852 Thereafter 54,864 $ 203,577 |
Schedule of Rental Expense for All Leases | Rental expense for all leases was as follows (in thousands): Fiscal year ended February 3, 2018 $ 35,663 Fiscal year ended January 28, 2017 33,925 Fiscal year ended January 30, 2016 32,456 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Feb. 03, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Summary of Restricted-Stock Awards and Restricted-Stock Units | The following table summarizes information about restricted-stock units as of and for the year ended February 3, 2018 (units in thousands): Time-based Restricted Stock Units Performance-based Restricted Stock Units Number of Units Weighted- Average Grant Date Fair Value (per unit) Number of Units Weighted- Average Grant Date Fair Value (per unit) Nonvested units outstanding at January 28, 2017 487 $ 18.04 375 $ 19.10 Granted 295 9.31 212 9.31 Vested (245 ) 18.08 — — Forfeited (136 ) 13.71 (224 ) 18.35 Nonvested units outstanding at February 3, 2018 401 $ 12.38 363 $ 13.83 |
401(k) Profit Sharing Plan an31
401(k) Profit Sharing Plan and Trust (Tables) | 12 Months Ended |
Feb. 03, 2018 | |
Disclosure Profit Sharing Plan And Trust Additional Information [Abstract] | |
Schedule of Total Company Contributions to Plan | Total Company contributions to the plan were as follows (in thousands): Fiscal year ended February 3, 2018 $ 1,533 Fiscal year ended January 28, 2017 1,624 Fiscal year ended January 30, 2016 1,965 |
Related-Party Transactions (Tab
Related-Party Transactions (Tables) | 12 Months Ended |
Feb. 03, 2018 | |
Related Party Transactions [Abstract] | |
Schedule of Related-Party Transactions Associated Expense | The associated expense for contributions to the Foundation, which is included in selling, general, and administrative expenses, was as follows (in thousands): Fiscal year ended February 3, 2018 $ 140 Fiscal year ended January 28, 2017 53 Fiscal year ended January 30, 2016 — |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Feb. 03, 2018 | |
Earnings Per Share [Abstract] | |
Components of Basic and Diluted Net Income Per Share | The components of basic and diluted net income per share are as follows (in thousands, except per share data): Fiscal Year Ended February 3, January 28, January 30, Numerator: Net income $ 7,016 $ 19,758 $ 27,558 Denominator: Weighted-average number of common shares (basic) 35,925 36,838 38,795 Dilutive effect of stock-based awards 101 132 66 Weighted-average number of common shares (diluted) 36,026 36,970 38,861 Earnings per share: Basic $ 0.20 $ 0.54 $ 0.71 Diluted $ 0.19 $ 0.53 $ 0.71 |
Vision 20_20 Restructuring and
Vision 20/20 Restructuring and Other Charges - (Tables) | 12 Months Ended |
Feb. 03, 2018 | |
Restructuring and Related Activities [Abstract] | |
Restructuring and Related Costs [Table Text Block] | The Company has incurred the following Vision 20/20-related charges during the fiscal year ended February 3, 2018 (in thousands): Fiscal 2018 Statements of Income Line Item Total Expense Reportable Segment Unallocated Corporate Expenses SG&A Cost of Sales Direct Indirect Asset impairment charges (1) $ 6,298 $ — $ 6,298 $ 6,298 $ — $ — Strategic consulting charges (2) 4,649 — 4,649 — — 4,649 Severance charges 3,867 199 4,066 826 1,184 2,056 Inventory-related charges (3) — 935 935 — 935 — Other charges (4) 751 — 751 466 230 55 Total $ 15,565 $ 1,134 $ 16,699 (5) $ 7,590 $ 2,349 $ 6,760 (1) Refer to Note 3 herein for additional details (2) Consulting charges for the identification and implementation of Vision 20/20 initiatives (3) Inventory adjustments for the discontinuation of certain inventory categories (4) Includes a net lease termination charge ($399 recognized within the Direct segment) and accelerated depreciation charges and other charges ($67 recognized within the Direct segment, $230 recognized within the Indirect segment, and $55 recognized within corporate unallocated expenses) (5) After the associated tax benefit, the charges totaled $10.6 million A summary of charges and related liabilities associated with the Vision 20/20 initiatives are as follows (in thousands): Asset Impairment Charges Strategic Consulting Charges Severance Charges Inventory-Related Charges Other Charges Total Fiscal 2018 charges $ 6,298 $ 4,649 $ 4,066 $ 935 $ 751 $ 16,699 Cash payments — (4,649 ) (2,508 ) — (411 ) (7,568 ) Non-cash charges (6,298 ) — — (935 ) (340 ) (7,573 ) Liability as of February 3, 2018 (1) $ — $ — $ 1,558 $ — $ — $ 1,558 (1) The remaining liability associated with severance charges is included within accrued employment costs in the Consolidated Balance Sheets |
Investments (Tables)
Investments (Tables) | 12 Months Ended |
Feb. 03, 2018 | |
Schedule of Investments [Abstract] | |
Summary Investment Holdings [Table Text Block] | The following table summarizes the Company's short-term investments (in thousands): February 3, 2018 January 28, 2017 Certificate of deposit $ 25,032 $ 30,152 Municipal securities 12,942 — U.S. corporate debt securities 8,727 — Non-U.S. corporate debt securities 6,451 — Commercial paper 998 — Total short-term investments $ 54,150 $ 30,152 The following table summarizes the Company's long-term investments (in thousands): February 3, 2018 January 28, 2017 Municipal securities $ 5,098 $ — U.S. corporate debt securities 4,543 — U.S. treasury securities 3,099 — Non-U.S. corporate debt securities 2,775 — Total long-term investments $ 15,515 $ — |
Segment Reporting (Tables)
Segment Reporting (Tables) | 12 Months Ended |
Feb. 03, 2018 | |
Segment Reporting [Abstract] | |
Schedule of Net Revenues and Operating Income Information for Reportable Segments | Net revenues and operating income information for the Company’s reportable segments consisted of the following (in thousands): Fiscal Year Ended February 3, January 28, January 30, Segment net revenues: Direct $ 351,786 $ 355,175 $ 351,286 Indirect 102,862 130,762 151,312 Total $ 454,648 $ 485,937 $ 502,598 Segment operating income: Direct $ 60,979 $ 62,577 $ 74,114 Indirect 34,763 50,955 60,409 Total $ 95,742 $ 113,532 $ 134,523 Reconciliation: Segment operating income $ 95,742 $ 113,532 $ 134,523 Less: Unallocated corporate expenses (80,761 ) (85,312 ) (87,801 ) Operating income $ 14,981 $ 28,220 $ 46,722 |
Net Revenues by Product Category | Net revenues by product categories are as follows (in thousands): Fiscal Year Ended February 3, January 28, January 30, Net revenues: Bags $ 184,773 $ 207,765 $ 215,835 Travel 118,655 119,082 125,279 Accessories 100,246 106,223 112,066 Home 30,819 27,574 22,729 Other 20,155 25,293 26,689 Total $ 454,648 $ 485,937 $ 502,598 |
Quarterly Financial Informati37
Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended |
Feb. 03, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Selected Quarterly Financial Data | The table below sets forth selected quarterly financial data for each of the last two fiscal years (in thousands, except per share data). The fourth quarter of fiscal 2018 was fourteen weeks in duration. Each of the other quarters presented was thirteen weeks in duration. Fiscal Year Ended February 3, 2018 First Quarter (1) Second Quarter (2) Third Quarter (3) Fourth Quarter (4)(5)(6) (unaudited) (unaudited) (unaudited) (unaudited) Net revenues $ 96,135 $ 112,418 $ 114,095 $ 132,000 Gross profit 52,700 63,293 63,829 74,187 Operating (loss) income (4,804 ) 3,709 462 15,614 Net (loss) income (4,049 ) 2,193 359 8,513 Basic net (loss) income per share (0.11 ) 0.06 0.01 0.24 Diluted net (loss) income per share (0.11 ) 0.06 0.01 0.24 (1) Includes $1.3 million ( $0.8 million after the associated tax benefit) for severance charges. Refer to Note 13 herein for additional information. (2) Includes charges of $2.3 million for strategic consulting related to Vision 20/20, $1.2 million for severance, and $0.3 million for lease termination ( $2.4 million collectively after the associated tax benefit). Refer to Note 13 herein for additional information. (3) Includes Vision 20/20-related charges of $5.9 million for store impairment, $2.9 million for severance, $2.3 million for strategic consulting, $0.9 million for inventory adjustments, and $0.6 million for other Vision 20/20. Collectively, after the associated tax benefit, the charges were $7.9 million . Refer to Note 3 and Note 13 herein for additional information. (4) Includes Vision 20/20-related charges of $1.2 million for severance, $0.4 million for store impairment, and $0.2 million for other Vision 20/20 ( $1.2 million collectively after the associated tax benefit). Refer to Note 3 and Note 13 herein for additional information. (5) Includes a $2.1 million net tax charge related to the enactment of the Tax Act. Refer to Note 5 herein for additional information. (6) Includes an extra week which contributed approximately $4.1 million in net revenues and added an estimated $0.01 to diluted net income per share. Fiscal Year Ended January 28, 2017 First Quarter Second Quarter (1) Third Quarter (2)(3) Fourth Quarter (4) (unaudited) (unaudited) (unaudited) (unaudited) Net revenues $ 105,181 $ 119,245 $ 126,662 $ 134,849 Gross profit 59,656 68,388 72,913 75,089 Operating income 3,857 8,303 11,402 4,658 Net income 2,418 5,109 8,780 3,451 Basic net income per share 0.06 0.14 0.24 0.10 Diluted net income per share 0.06 0.14 0.24 0.09 (1) Includes charges of $1.6 million for store impairment and $0.9 million for severance ( $1.6 million collectively after the associated tax benefit). Refer to Note 3 herein for additional information regarding store impairments. (2) Includes $0.6 million for store impairment charges ( $0.4 million after the associated tax benefit). Refer to Note 3 herein for additional information. (3) Includes a $1.6 million income tax benefit for the release of certain income tax reserves. (4) Includes $10.5 million for store impairment charges ( $6.6 million after the associated tax benefit). Refer to Note 3 herein for additional information. Information in any one Quarterly period should not be considered indicative of annual results due to the effect of seasonality of the business. |
Description of the Company - Ad
Description of the Company - Additional Information (Detail) | 12 Months Ended | ||
Feb. 03, 2018StoreSegmentlocation | Jan. 28, 2017 | Jan. 30, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Number of reportable segments | Segment | 2 | ||
Number Of Full Line Stores | 109 | ||
Number of outlet stores | 51 | ||
Number of specialty retail locations | location | 2,400 | ||
Fiscal period duration | 371 days | 364 days | 364 days |
Summary of Significant Accoun39
Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Feb. 03, 2018 | Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Significant Accounting Policies | ||||
Allowance for doubtful accounts | $ 0.9 | $ 0.9 | $ 0.6 | |
Revenue recorded related to gift card breakage | 0.3 | 0.3 | $ 0.3 | |
Deferred rent credit | 14.6 | 14.6 | 15.8 | |
Debt-issuance costs, net of accumulated amortization | 0.5 | 0.5 | 0.6 | |
Debt issuance costs, net | 0.1 | 0.1 | ||
Amortization expense | 0.2 | 0.2 | $ 0.2 | |
Tax reform act of 2017, income tax expense (benefit) | 2.1 | $ 2.1 | ||
Minimum | ||||
Significant Accounting Policies | ||||
Estimated useful lives, in years | 3 years | |||
Lease terms, years | 3 years | |||
Maximum | ||||
Significant Accounting Policies | ||||
Estimated useful lives, in years | 5 years | |||
Lease terms, years | 10 years | |||
Other Accrued Liabilities | ||||
Significant Accounting Policies | ||||
Deferred rent liability | 12.9 | $ 12.9 | 12.7 | |
Deferred rent credit | 2.4 | |||
Other Long Term Liabilities | ||||
Significant Accounting Policies | ||||
Deferred rent credit | $ 12.2 | $ 12.2 | $ 13.4 |
Summary of Significant Accoun40
Summary of Significant Accounting Policies - Schedule of Estimated Useful Lives (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Feb. 03, 2018 | Jan. 28, 2017 | |
Interest Cost Capitalized And Depreciation And Amortization Expenses For Property, Plant and Equipment | ||
Allowance for doubtful accounts | $ 0.9 | $ 0.6 |
Building and building improvements | ||
Interest Cost Capitalized And Depreciation And Amortization Expenses For Property, Plant and Equipment | ||
Property, plant and equipment estimated useful life | 39 years 6 months | |
Equipment | ||
Interest Cost Capitalized And Depreciation And Amortization Expenses For Property, Plant and Equipment | ||
Property, plant and equipment estimated useful life | 7 years | |
Vehicles | ||
Interest Cost Capitalized And Depreciation And Amortization Expenses For Property, Plant and Equipment | ||
Property, plant and equipment estimated useful life | 5 years | |
Minimum | ||
Interest Cost Capitalized And Depreciation And Amortization Expenses For Property, Plant and Equipment | ||
Property, plant and equipment estimated useful life | 3 years | |
Minimum | Land improvements | ||
Interest Cost Capitalized And Depreciation And Amortization Expenses For Property, Plant and Equipment | ||
Property, plant and equipment estimated useful life | 5 years | |
Minimum | Furniture, fixtures, and leasehold improvements | ||
Interest Cost Capitalized And Depreciation And Amortization Expenses For Property, Plant and Equipment | ||
Property, plant and equipment estimated useful life | 3 years | |
Minimum | Computer equipment and software | ||
Interest Cost Capitalized And Depreciation And Amortization Expenses For Property, Plant and Equipment | ||
Property, plant and equipment estimated useful life | 3 years | |
Maximum | ||
Interest Cost Capitalized And Depreciation And Amortization Expenses For Property, Plant and Equipment | ||
Property, plant and equipment estimated useful life | 5 years | |
Maximum | Land improvements | ||
Interest Cost Capitalized And Depreciation And Amortization Expenses For Property, Plant and Equipment | ||
Property, plant and equipment estimated useful life | 15 years | |
Maximum | Furniture, fixtures, and leasehold improvements | ||
Interest Cost Capitalized And Depreciation And Amortization Expenses For Property, Plant and Equipment | ||
Property, plant and equipment estimated useful life | 10 years | |
Maximum | Computer equipment and software | ||
Interest Cost Capitalized And Depreciation And Amortization Expenses For Property, Plant and Equipment | ||
Property, plant and equipment estimated useful life | 5 years |
Summary of Significant Accoun41
Summary of Significant Accounting Policies - Schedule of Returns and Credit Reserve and Related Activity (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Returns and Credits Reserve | |||
Balance at Beginning of Year | $ 5,360 | $ 2,317 | $ 2,173 |
Provision Charged to Net Revenues | 23,504 | 32,905 | 25,707 |
Allowances Taken | (26,169) | (29,862) | (25,563) |
Balance at End of Year | $ 2,695 | $ 5,360 | $ 2,317 |
Summary of Significant Accoun42
Summary of Significant Accounting Policies - Schedule of Total Advertising Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Accounting Policies [Abstract] | |||
Total advertising expense | $ 26,953 | $ 32,222 | $ 33,392 |
Summary of Significant Accoun43
Summary of Significant Accounting Policies - Schedule of Total Recovery from Indirect Retailers (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Accounting Policies [Abstract] | |||
Total recovery from indirect retailers | $ 367 | $ 1,000 | $ 2,180 |
Summary of Significant Accoun44
Summary of Significant Accounting Policies Summary of Significant Accounting Policies - Fair Value Measurements (Details) - USD ($) $ in Thousands | Feb. 03, 2018 | Jan. 28, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short-term investments | $ 54,150 | $ 30,152 |
Long-term investments | 15,515 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 1,889 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 4,058 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 0 | 0 |
Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short-term investments | 25,032 | 30,152 |
Municipal Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short-term investments | 0 | |
Long-term investments | 0 | |
Municipal Notes [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short-term investments | 12,942 | |
Long-term investments | 5,098 | |
Domestic Corporate Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short-term investments | 0 | |
Long-term investments | 0 | |
Domestic Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short-term investments | 8,727 | |
Long-term investments | 4,543 | |
Foreign Corporate Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short-term investments | 0 | |
Long-term investments | 0 | |
Foreign Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short-term investments | 6,451 | |
Long-term investments | 2,775 | |
Commercial Paper [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short-term investments | 0 | |
Commercial Paper [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short-term investments | 998 | |
US Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term investments | 0 | |
US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term investments | 3,099 | |
Estimate of Fair Value Measurement [Member] | Certificates of Deposit [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short-term investments | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short-term investments | 25,032 | 30,152 |
Estimate of Fair Value Measurement [Member] | Certificates of Deposit [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short-term investments | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Municipal Notes [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short-term investments | 0 | 0 |
Long-term investments | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Municipal Notes [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short-term investments | 12,942 | 0 |
Long-term investments | 5,098 | 0 |
Estimate of Fair Value Measurement [Member] | Municipal Notes [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short-term investments | 0 | 0 |
Long-term investments | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Domestic Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short-term investments | 0 | 0 |
Long-term investments | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Domestic Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short-term investments | 8,727 | 0 |
Long-term investments | 4,543 | 0 |
Estimate of Fair Value Measurement [Member] | Domestic Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short-term investments | 0 | 0 |
Long-term investments | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Foreign Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short-term investments | 0 | 0 |
Long-term investments | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Foreign Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short-term investments | 6,451 | 0 |
Long-term investments | 2,775 | 0 |
Estimate of Fair Value Measurement [Member] | Foreign Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short-term investments | 0 | 0 |
Long-term investments | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Commercial Paper [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short-term investments | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Commercial Paper [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short-term investments | 998 | 0 |
Estimate of Fair Value Measurement [Member] | Commercial Paper [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Short-term investments | 0 | 0 |
Estimate of Fair Value Measurement [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term investments | 3,099 | 0 |
Estimate of Fair Value Measurement [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term investments | 0 | 0 |
Estimate of Fair Value Measurement [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Long-term investments | $ 0 | $ 0 |
Property, Plant, and Equipmen45
Property, Plant, and Equipment - Schedule of Property, Plant, and Equipment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Jan. 28, 2017 | Oct. 29, 2016 | Jul. 30, 2016 | Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Property, Plant and Equipment | ||||||
Property, plant, and equipment, gross | $ 208,219 | $ 181,732 | $ 208,219 | |||
Less: Accumulated depreciation and amortization | (106,642) | (95,269) | (106,642) | |||
Property, plant, and equipment, net | 101,577 | 86,463 | 101,577 | |||
Impairment charge | 10,500 | $ 600 | $ 1,600 | 6,300 | 12,700 | $ 2,800 |
Land and land improvements | ||||||
Property, Plant and Equipment | ||||||
Property, plant, and equipment, gross | 5,981 | 5,981 | 5,981 | |||
Building and building improvements | ||||||
Property, Plant and Equipment | ||||||
Property, plant, and equipment, gross | 46,233 | 46,233 | 46,233 | |||
Furniture, fixtures, leasehold improvements and computer equipment | ||||||
Property, Plant and Equipment | ||||||
Property, plant, and equipment, gross | 127,791 | 108,351 | 127,791 | |||
Equipment and vehicles | ||||||
Property, Plant and Equipment | ||||||
Property, plant, and equipment, gross | 20,329 | 20,264 | 20,329 | |||
Construction in progress | ||||||
Property, Plant and Equipment | ||||||
Property, plant, and equipment, gross | $ 7,885 | $ 903 | $ 7,885 |
Property, Plant, and Equipmen46
Property, Plant, and Equipment - Schedule of Depreciation and Amortization Expense Associated with Property, Plant, and Equipment (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation and amortization expense, excluding impairment charges and discontinued operations | $ 19,570 | $ 19,516 | $ 19,418 |
Debt - Credit Agreement (Detail
Debt - Credit Agreement (Detail) - USD ($) $ in Millions | Jul. 15, 2015 | Feb. 03, 2018 | Jan. 28, 2017 |
Line of Credit Facility [Line Items] | |||
Remaining borrowing capacity | $ 125 | $ 125 | |
Credit Agreement | Line of credit | |||
Line of Credit Facility [Line Items] | |||
Maximum borrowing capacity | $ 125 | ||
Alternative base rate - federal funds rate | Credit Agreement | Line of credit | |||
Line of Credit Facility [Line Items] | |||
Basis spread | 0.50% | ||
Alternative base rate, LIBOR | Credit Agreement | Line of credit | |||
Line of Credit Facility [Line Items] | |||
Basis spread | 1.00% | ||
Minimum | Base rate - applicable margin | Credit Agreement | Line of credit | |||
Line of Credit Facility [Line Items] | |||
Basis spread | 0.00% | ||
Minimum | LIBOR - applicable margin | Credit Agreement | Line of credit | |||
Line of Credit Facility [Line Items] | |||
Basis spread | 1.00% | ||
Maximum | Base rate - applicable margin | Credit Agreement | Line of credit | |||
Line of Credit Facility [Line Items] | |||
Basis spread | 0.70% | ||
Maximum | LIBOR - applicable margin | Credit Agreement | Line of credit | |||
Line of Credit Facility [Line Items] | |||
Basis spread | 1.70% |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | |||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Income Tax Disclosure [Abstract] | ||||
Blended federal taxes at statutory rate, percentage | 32.90% | 35.00% | 35.00% | |
Unrecognized tax benefits | $ 104 | $ 877 | $ 3,099 | $ 3,018 |
Tax Cuts and Jobs Act of 2017, Incomplete Accounting, Provisional Income Tax Expense (Benefit) | 2,100 | |||
Tax Cuts and Jobs Act of 2017, Incomplete Accounting, Change in Tax Rate, Deferred Tax Asset, Provisional Income Tax Expense (Benefit) | 2,000 | |||
Tax Cuts and Jobs Act of 2017, Incomplete Accounting, Transition Tax for Accumulated Foreign Earnings, Provisional Income Tax Expense (Benefit) | 300 | |||
Tax Cuts and Jobs Act of 2017, Incomplete Accounting, Change in Tax Rate, Provisional Income Tax Expense (Benefit) | $ 200 |
Income Taxes - Schedule of Comp
Income Taxes - Schedule of Components of Income Tax Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Income Tax Disclosure [Abstract] | |||
Current, Federal | $ 488 | $ 8,810 | $ 19,823 |
Current, Foreign | 364 | 526 | 18 |
Current, State | (628) | 1,124 | 2,400 |
Current, Total | 224 | 10,460 | 22,241 |
Deferred, Federal | 7,476 | (1,623) | (2,813) |
Deferred, State | 678 | (553) | (527) |
Deferred, Total | 8,154 | (2,176) | (3,340) |
Total income tax expense | $ 8,378 | $ 8,284 | $ 18,901 |
Income Taxes - Schedule of Inco
Income Taxes - Schedule of Income Before Income Taxes (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Income Tax Disclosure [Abstract] | |||
Domestic | $ 13,666 | $ 24,891 | $ 46,386 |
Foreign | 1,728 | 3,151 | 73 |
Income before income taxes | $ 15,394 | $ 28,042 | $ 46,459 |
Income Taxes - Schedule of Reco
Income Taxes - Schedule of Reconciliation of Income Tax Expense to Amount Computed at Federal Statutory Rate (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Income Tax Disclosure [Abstract] | |||
Federal taxes at statutory rate | $ 5,067 | $ 9,815 | $ 16,261 |
Federal taxes at statutory rate, percentage | 32.90% | 35.00% | 35.00% |
State and local income taxes, net of federal benefit | $ 665 | $ 371 | $ 1,217 |
State and local income taxes, net of federal benefit, percentage | 4.30% | 1.30% | 2.60% |
Impact of foreign rate differential | $ (247) | $ (413) | |
Impact of foreign rate differential, percentage | (1.60%) | (1.50%) | |
Change in uncertain tax positions | $ (632) | $ (1,426) | |
Change in uncertain tax positions, percentage | (4.10%) | (5.10%) | |
Change in U.S. tax rate | $ 2,026 | $ 0 | $ 0 |
Change in U.S. tax rate, percentage | 13.20% | 0.00% | 0.00% |
Deemed mandatory repatriation | $ 345 | $ 0 | $ 0 |
Deemed mandatory repatriation, percentage | 2.20% | 0.00% | 0.00% |
Shortfall from stock-based compensation | $ 1,111 | $ 17 | $ 501 |
Shortfall from stock-based compensation, percentage | 7.20% | 0.10% | 1.10% |
Other | $ 43 | $ (80) | $ 922 |
Other, percentage | 0.30% | (0.30%) | 2.00% |
Total income tax expense | $ 8,378 | $ 8,284 | $ 18,901 |
Total income tax expense, percentage | 54.40% | 29.50% | 40.70% |
Income Taxes - Schedule of Co52
Income Taxes - Schedule of Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Feb. 03, 2018 | Jan. 28, 2017 |
Deferred tax assets: | ||
Compensation and benefits | $ 992 | $ 5,420 |
Inventories | 1,576 | 2,718 |
Deferred credits from landlords | 7,305 | 11,722 |
Other | 2,156 | 4,913 |
Total deferred tax assets | 12,029 | 24,773 |
Deferred tax liabilities: | ||
Property, plant, and equipment | (4,386) | (8,505) |
Other | (2,258) | (2,729) |
Total deferred tax liabilities | (6,644) | (11,234) |
Net deferred tax assets | $ 5,385 | $ 13,539 |
Income Taxes - Schedule of Re53
Income Taxes - Schedule of Reconciliation of Beginning and Ending Gross Amount of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Beginning balance | $ 877 | $ 3,099 | $ 3,018 |
Net increases in unrecognized tax benefits as a result of current year activity | 0 | 15 | 81 |
Net increases in unrecognized tax benefits as a result of prior year activity | 210 | 0 | 0 |
Reductions for tax positions of prior years | (877) | (1,695) | 0 |
Settlements | 0 | (214) | 0 |
Lapse of statute of limitations | (106) | (328) | 0 |
Ending balance | $ 104 | $ 877 | $ 3,099 |
Leases - Additional Information
Leases - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Leases | |||
Percentage rent expense | $ 3,100 | $ 2,800 | $ 2,400 |
Lease expense | $ 35,663 | $ 33,925 | $ 32,456 |
Minimum | |||
Leases | |||
Lease terms, years | 3 years | ||
Maximum | |||
Leases | |||
Lease terms, years | 10 years |
Leases - Schedule of Future Min
Leases - Schedule of Future Minimum Lease Payments Under Non-Cancelable Operating Leases Through Expiration (Detail) - Non-Related Party $ in Thousands | Feb. 03, 2018USD ($) |
Schedule Of Future Minimum Rental Payments For Operating Leases | |
2,019 | $ 32,778 |
2,020 | 31,684 |
2,021 | 30,877 |
2,022 | 28,522 |
2,023 | 24,852 |
Thereafter | 54,864 |
Future minimum lease payments | $ 203,577 |
Leases - Schedule of Rental Exp
Leases - Schedule of Rental Expense for All Leases (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Leases [Abstract] | |||
Rental expense, net, excluding discontinued operations | $ 35,663 | $ 33,925 | $ 32,456 |
Stock-Based Compensation - Addi
Stock-Based Compensation - Additional Information (Detail) $ in Millions | 12 Months Ended | |||
Feb. 03, 2018USD ($)shares | Jan. 28, 2017USD ($) | Jan. 30, 2016USD ($) | Oct. 30, 2010shares | |
Share-based Compensation Arrangement by Share-based Payment Award | ||||
Stock-based compensation expense | $ | $ 3.1 | $ 4 | $ 5 | |
Time-based Restricted Stock Units | ||||
Share-based Compensation Arrangement by Share-based Payment Award | ||||
Restricted-stock awards/units granted in period (in shares) | shares | 295,000 | |||
Performance-based Restricted Stock Units | ||||
Share-based Compensation Arrangement by Share-based Payment Award | ||||
Restricted-stock awards/units granted in period (in shares) | shares | 212,000 | |||
2010 Equity and Incentive Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award | ||||
Issuance of common stock shares | shares | 4,787,501 | 6,076,001 | ||
2010 Equity and Incentive Plan | Restricted-Stock Units | ||||
Share-based Compensation Arrangement by Share-based Payment Award | ||||
Restricted-stock awards/units granted in period (in shares) | shares | 507,423 | |||
Restricted-stock awards/units with an aggregate grant-date fair value | $ | $ 4.7 | |||
Restricted stock vesting period | 1 year | |||
Unrecognized compensation cost | $ | $ 3 | |||
Share-based compensation over a weighted average period | 1 year 3 months | |||
Share-based compensation fair value restrictions vested | $ | $ 2.1 | |||
2010 Equity and Incentive Plan | Time-based Restricted Stock Units | ||||
Share-based Compensation Arrangement by Share-based Payment Award | ||||
Award conversion ratio to common stock | 1 | |||
2010 Equity and Incentive Plan | Performance-based Restricted Stock Units | ||||
Share-based Compensation Arrangement by Share-based Payment Award | ||||
Restricted stock vesting period | 3 years |
Stock-Based Compensation - Summ
Stock-Based Compensation - Summary of Restricted-Stock Awards and Restricted-Stock Units (Detail) shares in Thousands | 12 Months Ended |
Feb. 03, 2018$ / sharesshares | |
Time-based Restricted Stock Units | |
Number of Units | |
Nonvested units outstanding, beginning balance (in shares) | shares | 487 |
Granted, Number of Units (in shares) | shares | 295 |
Vested, Number of Units (in shares) | shares | (245) |
Forfeited, Number of Units (in shares) | shares | (136) |
Nonvested units outstanding, ending balance (in shares) | shares | 401 |
Weighted- Average Grant Date Fair Value (per unit) | |
Weighted-Average Grant Date Fair Value (per unit), beginning balance (in dollars per share) | $ / shares | $ 18.04 |
Granted, Weighted-Average Grant Date Fair Value (per unit) (in dollars per share) | $ / shares | 9.31 |
Vested, Weighted-Average Grant Date Fair Value (per unit) (in dollars per share) | $ / shares | 18.08 |
Forfeited, Weighted-Average Grant Date Fair Value (per unit) (in dollars per share) | $ / shares | 13.71 |
Weighted-Average Grant Date Fair Value (per unit), ending balance (in dollars per share) | $ / shares | $ 12.38 |
Performance-based Restricted Stock Units | |
Number of Units | |
Nonvested units outstanding, beginning balance (in shares) | shares | 375 |
Granted, Number of Units (in shares) | shares | 212 |
Vested, Number of Units (in shares) | shares | 0 |
Forfeited, Number of Units (in shares) | shares | (224) |
Nonvested units outstanding, ending balance (in shares) | shares | 363 |
Weighted- Average Grant Date Fair Value (per unit) | |
Weighted-Average Grant Date Fair Value (per unit), beginning balance (in dollars per share) | $ / shares | $ 19.10 |
Granted, Weighted-Average Grant Date Fair Value (per unit) (in dollars per share) | $ / shares | 9.31 |
Vested, Weighted-Average Grant Date Fair Value (per unit) (in dollars per share) | $ / shares | 0 |
Forfeited, Weighted-Average Grant Date Fair Value (per unit) (in dollars per share) | $ / shares | 18.35 |
Weighted-Average Grant Date Fair Value (per unit), ending balance (in dollars per share) | $ / shares | $ 13.83 |
Commitments and Contingencies C
Commitments and Contingencies Commitments and Contingencies (Details) | 12 Months Ended |
Feb. 03, 2018USD ($) | |
Commitments and Contingencies Disclosure [Abstract] | |
Cyber security insurance, coverage limit | $ 15,000,000 |
Cyber security insurance, deductible | $ 100,000 |
401(k) Profit Sharing Plan an60
401(k) Profit Sharing Plan and Trust - Additional information (Detail) - USD ($) | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Pension Plans, Postretirement and Other Employee Benefits | |||
Employer matching contribution, percentage of gross pay, initial match | 100.00% | ||
Employer matching contribution, initial match, percentage | 3.00% | ||
Employer matching contribution, percentage of gross pay, secondary match | 50.00% | ||
Employer matching contribution, secondary match, percentage | 2.00% | ||
Employer matching contribution, percentage | 4.00% | ||
Deferred Compensation, Excluding Share-based Payments and Retirement Benefits | |||
Pension Plans, Postretirement and Other Employee Benefits | |||
Discretionary profit sharing payments | $ 0 | $ 0 | $ 0 |
401(k) Profit Sharing Plan an61
401(k) Profit Sharing Plan and Trust - Schedule of Total Company Contributions to Plan (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Disclosure Profit Sharing Plan And Trust Additional Information [Abstract] | |||
Total company contribution to the plan, excluding discontinued operations | $ 1,533 | $ 1,624 | $ 1,965 |
Related Party Transactions (Det
Related Party Transactions (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Feb. 03, 2018 | Jan. 28, 2017 | |
Related Party Transactions [Abstract] | ||
Related party transaction, amounts of transaction | $ 0.1 | |
Liability associated with related-party transactions commitment | $ 0.4 | $ 0.4 |
Related Party Transactions - Sc
Related Party Transactions - Schedule of Related-Party Transactions Associated Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Related Party Transactions [Abstract] | |||
Related-party transactions associated expense included in selling, general, and administrative expenses | $ 140 | $ 53 | $ 0 |
Earnings Per Share - Components
Earnings Per Share - Components of Basic and Diluted Net Income Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | Feb. 03, 2018 | Feb. 03, 2018 | Oct. 28, 2017 | Jul. 29, 2017 | Apr. 29, 2017 | Jan. 28, 2017 | Oct. 29, 2016 | Jul. 30, 2016 | Apr. 30, 2016 | Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 |
Earnings Per Share [Abstract] | ||||||||||||
Net income | $ 8,513 | $ 359 | $ 2,193 | $ (4,049) | $ 3,451 | $ 8,780 | $ 5,109 | $ 2,418 | $ 7,016 | $ 19,758 | $ 27,558 | |
Weighted-average number of common shares (basic) (in shares) | 35,925 | 36,838 | 38,795 | |||||||||
Dilutive effect of stock-based awards (in shares) | 101 | 132 | 66 | |||||||||
Weighted-average number of common shares (diluted) (in shares) | 36,026 | 36,970 | 38,861 | |||||||||
Earnings per share: | ||||||||||||
Net income per share, basic (in dollars per share) | $ 0.20 | $ 0.54 | $ 0.71 | |||||||||
Net income per share, diluted (in dollars per share) | $ 0.01 | $ 0.24 | $ 0.01 | $ 0.06 | $ (0.11) | $ 0.09 | $ 0.24 | $ 0.14 | $ 0.06 | $ 0.19 | $ 0.53 | $ 0.71 |
Common Stock (Details)
Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||||
Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | Dec. 08, 2015 | Sep. 09, 2014 | |
Equity, Class of Treasury Stock [Line Items] | |||||
Shares acquired as part of share repurchase program (in shares) | 1,606,102 | 2,481,367 | |||
Average price per share of shares acquired (in dollars per share) | $ 13.57 | $ 15.27 | $ 12.57 | ||
Aggregate common stock repurchased | $ 7,908 | $ 24,523 | $ 31,190 | ||
Treasury stock, shares | 5,642,485 | ||||
Value of treasury stock | $ 76,578 | $ 68,670 | |||
The 2015 Share Repurchase Program | |||||
Equity, Class of Treasury Stock [Line Items] | |||||
Authorized amount under share repurchase program | $ 50,000 | ||||
Shares acquired as part of share repurchase program (in shares) | 934,031 | 283,354 | |||
Average price per share of shares acquired (in dollars per share) | $ 8.47 | $ 14.64 | |||
Aggregate common stock repurchased | $ 7,900 | $ 4,100 | |||
Remaining authorized repurchased amount | $ 13,400 | ||||
The 2014 Share Repurchase Program | |||||
Equity, Class of Treasury Stock [Line Items] | |||||
Authorized amount under share repurchase program | $ 40,000 |
Restructuring and Other Charg66
Restructuring and Other Charges (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Feb. 03, 2018 | Oct. 28, 2017 | Jul. 29, 2017 | Apr. 29, 2017 | Jan. 28, 2017 | Oct. 29, 2016 | Jul. 30, 2016 | Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Restructuring Cost and Reserve [Line Items] | ||||||||||
Restructuring charges incurred, net of tax | $ 6,600 | $ 400 | $ 1,600 | |||||||
Severance charges | 900 | |||||||||
Tax reform act of 2017, income tax expense (benefit) | $ 2,100 | $ 2,100 | ||||||||
Income tax expense (benefit) | 8,378 | $ 8,284 | $ 18,901 | |||||||
Impairment charge | $ 10,500 | 600 | $ 1,600 | 6,300 | 12,700 | 2,800 | ||||
Other restructuring costs | 5,300 | |||||||||
Other restructuring costs, net of tax | 3,300 | |||||||||
Selling, general and administrative expense | ||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||
Restructuring charges incurred | 2,800 | 13,600 | ||||||||
Restructuring charges incurred, net of tax | 1,700 | 8,600 | ||||||||
Facility closing | ||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||
Restructuring charges incurred | 3,400 | |||||||||
Restructuring charges incurred, net of tax | 2,100 | |||||||||
Employee severance and other benefits | ||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||
Restructuring charges incurred | 1,700 | |||||||||
Lease termination costs | ||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||
Restructuring charges incurred | $ 300 | $ 300 | 700 | |||||||
Lease termination costs | Selling, general and administrative expense | ||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||
Other restructuring costs | 1,200 | |||||||||
Inventory Related Charges | ||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||
Restructuring charges incurred | 600 | |||||||||
Other associated restructuring costs | ||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||
Restructuring charges incurred | 400 | |||||||||
Change in income tax reserves | ||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||
Income tax expense (benefit) | $ (1,600) | (1,600) | 600 | |||||||
Vision 20/20 | ||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||
Strategic plan refining period (in years) | 3 years | |||||||||
Restructuring charges incurred, net of tax | 1,200 | $ 7,900 | 2,400 | $ 800 | ||||||
Severance charges | 1,200 | 2,900 | $ 1,200 | $ 1,300 | $ 4,066 | |||||
Impairment charge | 400 | 5,900 | ||||||||
Other restructuring costs | $ 200 | $ 600 | 751 | |||||||
Vision 20/20 | Selling, general and administrative expense | ||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||
Severance charges | 3,867 | |||||||||
Other restructuring costs | 751 | |||||||||
Corporate Segment | ||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||
Severance charges | 2,500 | 900 | 1,300 | |||||||
Corporate Segment | Vision 20/20 | ||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||
Severance charges | 2,056 | |||||||||
Other restructuring costs | 55 | |||||||||
Direct | ||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||
Restructuring charges incurred | 2,300 | |||||||||
Impairment charge | $ 12,700 | 2,800 | ||||||||
Direct | Vision 20/20 | ||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||
Severance charges | 826 | |||||||||
Other restructuring costs | 466 | |||||||||
Direct | Vision 20/20 | Lease termination costs | ||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||
Other restructuring costs | 399 | |||||||||
Indirect | ||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||
Restructuring charges incurred | $ 1,100 | |||||||||
Indirect | Vision 20/20 | ||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||
Severance charges | 1,184 | |||||||||
Other restructuring costs | $ 230 |
Vision 20_20 Restructuring an67
Vision 20/20 Restructuring and Other Charges - Vision 20/20-related charges (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||
Feb. 03, 2018 | Oct. 28, 2017 | Jul. 29, 2017 | Apr. 29, 2017 | Jul. 30, 2016 | Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 | |
Restructuring Cost and Reserve [Line Items] | ||||||||
Asset impairment charges | $ 6,298 | $ 12,706 | $ 2,755 | |||||
Severance charges | $ 900 | |||||||
Other restructuring costs | 5,300 | |||||||
Vision 20/20 | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Asset impairment charges | 6,298 | |||||||
Strategic consulting charges | $ 2,300 | $ 2,300 | 4,649 | |||||
Severance charges | $ 1,200 | 2,900 | $ 1,200 | $ 1,300 | 4,066 | |||
Inventory-related charges | 900 | 935 | ||||||
Other restructuring costs | $ 200 | $ 600 | 751 | |||||
Total | 16,699 | |||||||
Restructuring, Settlement And Impairment Provisions, Net Of Tax | 10,600 | |||||||
Vision 20/20 | Selling, general and administrative expense | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Asset impairment charges | 6,298 | |||||||
Strategic consulting charges | 4,649 | |||||||
Severance charges | 3,867 | |||||||
Other restructuring costs | 751 | |||||||
Total | 15,565 | |||||||
Vision 20/20 | Cost of Sales | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Severance charges | 199 | |||||||
Inventory-related charges | 935 | |||||||
Total | 1,134 | |||||||
Lease termination costs | Selling, general and administrative expense | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Other restructuring costs | 1,200 | |||||||
Direct | Vision 20/20 | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Asset impairment charges | 6,298 | |||||||
Severance charges | 826 | |||||||
Other restructuring costs | 466 | |||||||
Total | 7,590 | |||||||
Accelerated depreciation charges and other charges | 67 | |||||||
Direct | Lease termination costs | Vision 20/20 | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Other restructuring costs | 399 | |||||||
Indirect | Vision 20/20 | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Severance charges | 1,184 | |||||||
Inventory-related charges | 935 | |||||||
Other restructuring costs | 230 | |||||||
Total | 2,349 | |||||||
Accelerated depreciation charges and other charges | 230 | |||||||
Corporate Segment | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Severance charges | 2,500 | $ 900 | $ 1,300 | |||||
Corporate Segment | Vision 20/20 | ||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||
Strategic consulting charges | 4,649 | |||||||
Severance charges | 2,056 | |||||||
Other restructuring costs | 55 | |||||||
Total | 6,760 | |||||||
Accelerated depreciation charges and other charges | $ 55 |
Vision 20_20 Restructuring an68
Vision 20/20 Restructuring and Other Charges - Charges and related liabilities associated with the Vision 20/20 initiatives (Details) - Vision 20/20 $ in Thousands | 12 Months Ended |
Feb. 03, 2018USD ($) | |
Restructuring Cost and Reserve [Line Items] | |
Fiscal 2018 charges | $ 16,699 |
Cash payments | (7,568) |
Non-cash charges | (7,573) |
Liability as of February 3, 2018 | 1,558 |
Asset Impairment Charges [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Fiscal 2018 charges | 6,298 |
Non-cash charges | (6,298) |
Liability as of February 3, 2018 | 0 |
Strategic Consulting Charges [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Fiscal 2018 charges | 4,649 |
Cash payments | (4,649) |
Liability as of February 3, 2018 | 0 |
Employee severance and other benefits | |
Restructuring Cost and Reserve [Line Items] | |
Fiscal 2018 charges | 4,066 |
Cash payments | (2,508) |
Liability as of February 3, 2018 | 1,558 |
Inventory Related Charges | |
Restructuring Cost and Reserve [Line Items] | |
Fiscal 2018 charges | 935 |
Non-cash charges | (935) |
Liability as of February 3, 2018 | 0 |
Other associated restructuring costs | |
Restructuring Cost and Reserve [Line Items] | |
Fiscal 2018 charges | 751 |
Cash payments | (411) |
Non-cash charges | (340) |
Liability as of February 3, 2018 | $ 0 |
Investments - Short-term invest
Investments - Short-term investments (Details) - USD ($) $ in Thousands | Feb. 03, 2018 | Jan. 28, 2017 |
Investment Holdings [Line Items] | ||
Short-term investments | $ 54,150 | $ 30,152 |
Municipal Notes [Member] | ||
Investment Holdings [Line Items] | ||
Short-term investments | 0 | |
Domestic Corporate Debt Securities [Member] | ||
Investment Holdings [Line Items] | ||
Short-term investments | 0 | |
Foreign Corporate Debt Securities [Member] | ||
Investment Holdings [Line Items] | ||
Short-term investments | 0 | |
Commercial Paper [Member] | ||
Investment Holdings [Line Items] | ||
Short-term investments | 0 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Certificates of Deposit [Member] | ||
Investment Holdings [Line Items] | ||
Short-term investments | 25,032 | $ 30,152 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Municipal Notes [Member] | ||
Investment Holdings [Line Items] | ||
Short-term investments | 12,942 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Domestic Corporate Debt Securities [Member] | ||
Investment Holdings [Line Items] | ||
Short-term investments | 8,727 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Foreign Corporate Debt Securities [Member] | ||
Investment Holdings [Line Items] | ||
Short-term investments | 6,451 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Commercial Paper [Member] | ||
Investment Holdings [Line Items] | ||
Short-term investments | $ 998 |
Investments - Long-term investm
Investments - Long-term investments (Details) - USD ($) | 12 Months Ended | |
Feb. 03, 2018 | Jan. 28, 2017 | |
Investment Holdings [Line Items] | ||
Long-term investments | $ 15,515,000 | $ 0 |
Unrealized (loss) gain on available-for-sale investments | 0 | 0 |
Municipal Notes [Member] | ||
Investment Holdings [Line Items] | ||
Long-term investments | 0 | |
Domestic Corporate Debt Securities [Member] | ||
Investment Holdings [Line Items] | ||
Long-term investments | 0 | |
US Treasury Securities [Member] | ||
Investment Holdings [Line Items] | ||
Long-term investments | 0 | |
Foreign Corporate Debt Securities [Member] | ||
Investment Holdings [Line Items] | ||
Long-term investments | $ 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | US Treasury Securities [Member] | ||
Investment Holdings [Line Items] | ||
Long-term investments | 3,099,000 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Municipal Notes [Member] | ||
Investment Holdings [Line Items] | ||
Long-term investments | 5,098,000 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Domestic Corporate Debt Securities [Member] | ||
Investment Holdings [Line Items] | ||
Long-term investments | 4,543,000 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Foreign Corporate Debt Securities [Member] | ||
Investment Holdings [Line Items] | ||
Long-term investments | $ 2,775,000 |
Segment Reporting (Detail)
Segment Reporting (Detail) | 12 Months Ended | ||
Feb. 03, 2018Segmentlocationcustomer | Jan. 28, 2017customer | Jan. 30, 2016customer | |
Revenue, Major Customer | |||
Concentration risk, Percentage | 10.00% | 10.00% | 10.00% |
Number of operating segments | Segment | 2 | ||
Number of specialty retail locations | location | 2,400 | ||
Number of customers exceeding threshold | customer | 0 | 0 | 0 |
Segment Reporting - Schedule of
Segment Reporting - Schedule of Net Revenues and Operating Income Information for Reportable Segments (Detail) - USD ($) $ in Thousands | Feb. 03, 2018 | Feb. 03, 2018 | Oct. 28, 2017 | Jul. 29, 2017 | Apr. 29, 2017 | Jan. 28, 2017 | Oct. 29, 2016 | Jul. 30, 2016 | Apr. 30, 2016 | Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 |
Segment Reporting Information | ||||||||||||
Net revenues | $ 4,100 | $ 132,000 | $ 114,095 | $ 112,418 | $ 96,135 | $ 134,849 | $ 126,662 | $ 119,245 | $ 105,181 | $ 454,648 | $ 485,937 | $ 502,598 |
Operating (loss) income | $ 15,614 | $ 462 | $ 3,709 | $ (4,804) | $ 4,658 | $ 11,402 | $ 8,303 | $ 3,857 | 14,981 | 28,220 | 46,722 | |
Operating Segments | ||||||||||||
Segment Reporting Information | ||||||||||||
Net revenues | 454,648 | 485,937 | 502,598 | |||||||||
Segment operating income | 95,742 | 113,532 | 134,523 | |||||||||
Operating Segments | Direct | ||||||||||||
Segment Reporting Information | ||||||||||||
Net revenues | 351,786 | 355,175 | 351,286 | |||||||||
Segment operating income | 60,979 | 62,577 | 74,114 | |||||||||
Operating Segments | Indirect | ||||||||||||
Segment Reporting Information | ||||||||||||
Net revenues | 102,862 | 130,762 | 151,312 | |||||||||
Segment operating income | 34,763 | 50,955 | 60,409 | |||||||||
Corporate, Non-Segment | ||||||||||||
Segment Reporting Information | ||||||||||||
Unallocated corporate expenses | $ (80,761) | $ (85,312) | $ (87,801) |
Segment Reporting - Net Revenue
Segment Reporting - Net Revenue By Product Category (Detail) - USD ($) $ in Thousands | Feb. 03, 2018 | Feb. 03, 2018 | Oct. 28, 2017 | Jul. 29, 2017 | Apr. 29, 2017 | Jan. 28, 2017 | Oct. 29, 2016 | Jul. 30, 2016 | Apr. 30, 2016 | Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 |
Net revenues: | ||||||||||||
Net revenues | $ 4,100 | $ 132,000 | $ 114,095 | $ 112,418 | $ 96,135 | $ 134,849 | $ 126,662 | $ 119,245 | $ 105,181 | $ 454,648 | $ 485,937 | $ 502,598 |
Bags | ||||||||||||
Net revenues: | ||||||||||||
Net revenues | 184,773 | 207,765 | 215,835 | |||||||||
Travel | ||||||||||||
Net revenues: | ||||||||||||
Net revenues | 118,655 | 119,082 | 125,279 | |||||||||
Accessories | ||||||||||||
Net revenues: | ||||||||||||
Net revenues | 100,246 | 106,223 | 112,066 | |||||||||
Home | ||||||||||||
Net revenues: | ||||||||||||
Net revenues | 30,819 | 27,574 | 22,729 | |||||||||
Other | ||||||||||||
Net revenues: | ||||||||||||
Net revenues | $ 20,155 | $ 25,293 | $ 26,689 |
Quarterly Financial Informati74
Quarterly Financial Information (Unaudited) - Schedule of Selected Quarterly Financial Data (Detail) - USD ($) $ / shares in Units, $ in Thousands | Feb. 03, 2018 | Feb. 03, 2018 | Oct. 28, 2017 | Jul. 29, 2017 | Apr. 29, 2017 | Jan. 28, 2017 | Oct. 29, 2016 | Jul. 30, 2016 | Apr. 30, 2016 | Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 |
Quarterly Financial Information Disclosure [Abstract] | ||||||||||||
Net revenues | $ 4,100 | $ 132,000 | $ 114,095 | $ 112,418 | $ 96,135 | $ 134,849 | $ 126,662 | $ 119,245 | $ 105,181 | $ 454,648 | $ 485,937 | $ 502,598 |
Gross profit | 74,187 | 63,829 | 63,293 | 52,700 | 75,089 | 72,913 | 68,388 | 59,656 | 254,009 | 276,046 | 281,189 | |
Operating (loss) income | 15,614 | 462 | 3,709 | (4,804) | 4,658 | 11,402 | 8,303 | 3,857 | 14,981 | 28,220 | 46,722 | |
Net income | $ 8,513 | $ 359 | $ 2,193 | $ (4,049) | $ 3,451 | $ 8,780 | $ 5,109 | $ 2,418 | $ 7,016 | $ 19,758 | $ 27,558 | |
Basic net (loss) income per share (in dollars per share) | $ 0.24 | $ 0.01 | $ 0.06 | $ (0.11) | $ 0.10 | $ 0.24 | $ 0.14 | $ 0.06 | ||||
Net income per share, diluted (in dollars per share) | $ 0.01 | $ 0.24 | $ 0.01 | $ 0.06 | $ (0.11) | $ 0.09 | $ 0.24 | $ 0.14 | $ 0.06 | $ 0.19 | $ 0.53 | $ 0.71 |
Quarterly Financial Informati75
Quarterly Financial Information (Unaudited) - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands | Feb. 03, 2018 | Feb. 03, 2018 | Oct. 28, 2017 | Jul. 29, 2017 | Apr. 29, 2017 | Jan. 28, 2017 | Oct. 29, 2016 | Jul. 30, 2016 | Apr. 30, 2016 | Feb. 03, 2018 | Jan. 28, 2017 | Jan. 30, 2016 |
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Severance charges | $ 900 | |||||||||||
Restructuring charges incurred, net of tax | $ 6,600 | $ 400 | 1,600 | |||||||||
Income tax expense (benefit) | $ 8,378 | $ 8,284 | $ 18,901 | |||||||||
Impairment charge | 10,500 | 600 | 1,600 | 6,300 | 12,700 | 2,800 | ||||||
Other restructuring costs | 5,300 | |||||||||||
Tax reform act of 2017, income tax expense (benefit) | $ 2,100 | 2,100 | ||||||||||
Net revenues | $ 4,100 | $ 132,000 | $ 114,095 | $ 112,418 | $ 96,135 | $ 134,849 | $ 126,662 | $ 119,245 | $ 105,181 | $ 454,648 | $ 485,937 | $ 502,598 |
Net income per share, diluted (in dollars per share) | $ 0.01 | $ 0.24 | $ 0.01 | $ 0.06 | $ (0.11) | $ 0.09 | $ 0.24 | $ 0.14 | $ 0.06 | $ 0.19 | $ 0.53 | $ 0.71 |
Vision 20/20 | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Severance charges | $ 1,200 | $ 2,900 | $ 1,200 | $ 1,300 | $ 4,066 | |||||||
Restructuring charges incurred, net of tax | 1,200 | 7,900 | 2,400 | $ 800 | ||||||||
Strategic consulting charges | 2,300 | 2,300 | 4,649 | |||||||||
Impairment charge | 400 | 5,900 | ||||||||||
Inventory-related charges | 900 | 935 | ||||||||||
Other restructuring costs | $ 200 | $ 600 | 751 | |||||||||
Lease termination costs | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Restructuring charges incurred | $ 300 | $ 300 | $ 700 | |||||||||
Change in income tax reserves | ||||||||||||
Restructuring Cost and Reserve [Line Items] | ||||||||||||
Income tax expense (benefit) | $ (1,600) | $ (1,600) | $ 600 |
Uncategorized Items - vra-20180
Label | Element | Value |
Capital Expenditures Incurred but Not yet Paid | us-gaap_CapitalExpendituresIncurredButNotYetPaid | $ 2,172,000 |
Capital Expenditures Incurred but Not yet Paid | us-gaap_CapitalExpendituresIncurredButNotYetPaid | 2,872,000 |
Capital Expenditures Incurred but Not yet Paid | us-gaap_CapitalExpendituresIncurredButNotYetPaid | 1,183,000 |
Capital Expenditures Incurred but Not yet Paid | us-gaap_CapitalExpendituresIncurredButNotYetPaid | 2,204,000 |
Repurchase of Common Stock Incurred but Not yet Paid | vra_RepurchaseofCommonStockIncurredbutNotyetPaid | 116,000 |
Repurchase of Common Stock Incurred but Not yet Paid | vra_RepurchaseofCommonStockIncurredbutNotyetPaid | 436,000 |
Repurchase of Common Stock Incurred but Not yet Paid | vra_RepurchaseofCommonStockIncurredbutNotyetPaid | 0 |
Repurchase of Common Stock Incurred but Not yet Paid | vra_RepurchaseofCommonStockIncurredbutNotyetPaid | $ 0 |