Ollie's Bargain Outlet (OLLI) 10-Q 9 Dec 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Oct. 29, 2016	Dec. 08, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	Ollie's Bargain Outlet Holdings, Inc.
Entity Central Index Key	1,639,300
Current Fiscal Year End Date	--01-28
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		60,610,487
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 29, 2016

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Oct. 29, 2016	Jan. 30, 2016	Oct. 31, 2015
Current assets:
Cash and cash equivalents	$ 35,961	$ 30,259	$ 3,960
Inventories	240,767	190,608	212,581
Accounts receivable	283	183	418
Deferred income taxes	0	0	4,559
Prepaid expenses and other assets	5,363	2,756	6,771
Total current assets	282,374	223,806	228,289
Property and equipment, net of accumulated depreciation of $35,600, $25,924 and $28,270, respectively	46,890	39,292	38,726
Goodwill	444,850	444,850	444,850
Trade name and other intangible assets, net of accumulated amortization of $1,543, $1,196 and $1,259, respectively	233,070	233,354	233,291
Other assets	2,400	2,520	2,175
Total assets	1,009,584	943,822	947,331
Current liabilities:
Current portion of long-term debt	5,091	5,018	3,367
Accounts payable	58,011	52,075	50,995
Income taxes payable	0	4,102	0
Accrued expenses	43,211	35,573	31,321
Total current liabilities	106,313	96,768	85,683
Revolving credit facility	0	0	18,054
Long-term debt	190,105	193,433	206,070
Deferred income taxes	85,982	87,171	91,673
Other long-term liabilities	5,332	4,501	4,099
Total liabilities	387,732	381,873	405,579
Stockholders' equity:
Preferred stock - 50,000 shares authorized at $0.001 par value; no shares issued		0	0
Common stock - 500,000 shares authorized at $0.001 par value; 60,529, 58,522, and 58,807 shares issued, respectively	61	59	59
Additional paid-in capital	560,872	536,315	532,182
Retained earnings	61,005	25,661	9,597
Treasury - common stock, at cost; 9 shares	(86)	(86)	(86)
Total stockholders' equity	621,852	561,949	541,752
Total liabilities and stockholders' equity	$ 1,009,584	$ 943,822	$ 947,331

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Oct. 29, 2016	Jan. 30, 2016	Oct. 31, 2015
Assets
Property and equipment, accumulated depreciation	$ 35,600	$ 28,270	$ 25,924
Trade name and other intangible assets, accumulated amortization	$ 1,543	$ 1,259	$ 1,196
Stockholders' equity:
Preferred stock, shares authorized (in shares)	50,000	50,000	50,000
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001
Preferred stock, shares issued (in shares)	0	0	0
Common stock, shares authorized (in shares)	500,000	500,000	500,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001
Common stock, shares issued (in shares)	60,529	58,807	58,522
Treasury - common stock, shares (in shares)	9	9	9

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2016	Oct. 31, 2015	Oct. 29, 2016	Oct. 31, 2015
Condensed Consolidated Statements of Income (Unaudited) [Abstract]
Net sales	$ 201,985	$ 174,565	$ 606,960	$ 518,968
Cost of sales	117,795	104,641	359,941	314,943
Gross profit	84,190	69,924	247,019	204,025
Selling, general and administrative expenses	60,522	51,796	173,068	147,242
Depreciation and amortization expenses	2,142	1,810	6,188	5,265
Pre-opening expenses	2,879	2,380	6,152	5,252
Operating income	18,647	13,938	61,611	46,266
Interest expense, net	1,405	3,289	4,540	12,286
Loss on extinguishment of debt	0	0	0	2,351
Income before income taxes	17,242	10,649	57,071	31,629
Income tax expense	6,781	3,887	21,727	11,854
Net income	$ 10,461	$ 6,762	$ 35,344	$ 19,775
Earnings per common share:
Basic (in dollars per share)	$ 0.17	$ 0.12	$ 0.59	$ 0.38
Diluted (in dollars per share)	$ 0.17	$ 0.11	$ 0.57	$ 0.37
Weighted average common shares outstanding:
Basic (in shares)	60,301	58,478	60,005	52,259
Diluted (in shares)	62,515	60,704	62,247	54,102

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Common Stock [Member]Class A [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance at Jan. 31, 2015	$ 0	$ 48	$ (29)	$ 393,078	$ 23,738	$ 416,835
Beginning balance (in shares) at Jan. 31, 2015	0	48,203	(3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 0	$ 0	$ 0	3,667	0	3,667
Proceeds from stock options exercised	$ 1	$ 0	$ 0	356	0	357
Proceeds from stock options exercised (in shares)	50	5	0
Excess tax benefit related to exercises of stock options				217		217
Conversion of Class A and Class B common stock to a single class of common stock		$ (48)
Conversion of Class A and Class B common stock to a single class of common stock (in shares)		(48,208)
Conversion of Class A and Class B common stock to a single class of common stock	$ 48		$ 0	0	0	0
Conversion of Class A and Class B common stock to a single class of common stock (in shares)	48,208		0
Proceeds from issuance of common stock, net of expenses	$ 10	$ 0	$ 0	149,796	0	149,806
Proceeds from issuance of common stock, net of expenses, shares (in shares)	10,264	0	0
Dividend paid ($1.01 per share)	$ 0	$ 0	$ 0	(14,932)	(33,916)	(48,848)
Purchase of treasury stock	$ 0	$ 0	$ (57)	0	0	(57)
Purchase of treasury stock (in shares)	0	0	(6)
Net income	$ 0	$ 0	$ 0	0	19,775	19,775
Ending balance at Oct. 31, 2015	$ 59	$ 0	$ (86)	532,182	9,597	541,752
Ending balance (in shares) at Oct. 31, 2015	58,522	0	(9)
Beginning balance at Jan. 30, 2016	$ 59	$ 0	$ (86)	536,315	25,661	561,949
Beginning balance (in shares) at Jan. 30, 2016	58,807	0	(9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 0	$ 0	$ 0	4,979	0	4,979
Proceeds from stock options exercised	$ 2	$ 0	$ 0	11,744	0	11,746
Proceeds from stock options exercised (in shares)	1,722	0	0
Excess tax benefit related to exercises of stock options	$ 0	$ 0	$ 0	7,834	0	7,834
Net income	0	0	0	0	35,344	35,344
Ending balance at Oct. 29, 2016	$ 61	$ 0	$ (86)	$ 560,872	$ 61,005	$ 621,852
Ending balance (in shares) at Oct. 29, 2016	60,529	0	(9)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Parenthetical)	9 Months Ended
	Oct. 31, 2015$ / shares
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) [Abstract]
Dividend paid (in dollars per share)	$ 1.01

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Oct. 29, 2016	Oct. 31, 2015
Cash flows from operating activities:
Net income	$ 35,344	$ 19,775
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization of property and equipment	7,486	6,567
Amortization of debt issuance costs	562	1,041
Amortization of original issue discount	18	365
Loss on extinguishment of debt	0	2,351
Amortization of intangibles	284	334
Deferred income tax benefit	(1,189)	(1,976)
Deferred rent expense	1,129	1,540
Stock-based compensation expense	4,979	3,667
Excess tax benefit related to exercises of stock options	(7,834)	(217)
Changes in operating assets and liabilities:
Inventories	(50,159)	(42,709)
Accounts receivable	(100)	(100)
Prepaid expenses and other assets	(2,799)	(4,401)
Accounts payable	5,214	93
Income taxes payable	3,732	(5,040)
Accrued expenses and other liabilities	7,494	3,327
Net cash provided by (used in) operating activities	4,161	(15,383)
Cash flows from investing activities:
Purchases of property and equipment	(14,233)	(10,917)
Proceeds from sale of property and equipment	15	23
Net cash used in investing activities	(14,218)	(10,894)
Cash flows from financing activities:
Borrowings on revolving credit facility	641,199	614,126
Repayments on revolving credit facility	(641,199)	(596,072)
Repayments on term loan and capital leases	(3,821)	(110,092)
Proceeds from issuance of common stock, net of expenses	0	149,806
Proceeds from stock option exercises	11,746	357
Excess tax benefit related to exercises of stock options	7,834	217
Payment of debt issuance costs	0	(1,152)
Payment of dividend	0	(48,848)
Purchase of treasury stock	0	(57)
Net cash provided by financing activities	15,759	8,285
Net increase (decrease) in cash and cash equivalents	5,702	(17,992)
Cash and cash equivalents at the beginning of the period	30,259	21,952
Cash and cash equivalents at the end of the period	35,961	3,960
Cash paid during the period for:
Interest	3,976	10,800
Income taxes	21,039	18,882
Non-cash investing activities:
Accrued purchases of property and equipment	$ 969	$ 841

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	9 Months Ended
	Oct. 29, 2016
Organization and Summary of Significant Accounting Policies [Abstract]
Organization and Summary of Significant Accounting Policies	(1) Organization and Summary of Significant Accounting Policies (a) Description of Business Ollie’s Bargain Outlet Holdings, Inc., operates through its operating subsidiary, Ollie’s Bargain Outlet, Inc., a chain of retail stores which offer brand name products at deeply discounted and closeout prices across a broad selection of product categories. Ollie’s Bargain Outlet Holdings, Inc., together with its subsidiaries, will be referenced herein as the Company or Ollie’s. Ollie’s principally buys overproduced, overstocked, and closeout merchandise from manufacturers, wholesalers, and other retailers. In addition, the Company augments brand name closeout deals with directly sourced private label products featuring names exclusive to Ollie’s in order to provide consistent assortment of value-priced goods in select key merchandise categories. Since the first store opened in 1982, the Company has grown to 232 Ollie’s Bargain Outlet retail locations as of October 29, 2016. Ollie’s Bargain Outlet retail locations are located in 19 states (Alabama, Connecticut, Delaware, Florida, Georgia, Indiana, Kentucky, Maryland, Michigan, Mississippi, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia) as of October 29, 2016. Initial Public Offering On July 15, 2015, the Company priced its initial public offering (“IPO”) of 8,925,000 shares of its common stock. In addition, on July 17, 2015, the underwriters of the IPO exercised their option to purchase an additional 1,338,750 shares of common stock from the Company. As a result, 10,263,750 shares of common stock were issued and sold by the Company at a price of $16.00 per share. As a result of the IPO, the Company received net proceeds of $153.1 million, after deducting the underwriting fees of $11.1 million. The Company used the net proceeds from the IPO to pay off outstanding borrowings under its Revolving Credit Facility and a portion of the principal balance of its then outstanding Term Loan. Secondary Offerings On February 18, 2016, the Company completed a secondary offering of 7,873,063 shares of common stock, of which 1,152,500 shares were sold by certain directors, officers and employees upon the exercise of stock options in connection with the offering. In addition, on February 19, 2016, the underwriters exercised their option to purchase an additional 1,180,959 shares of the Company’s common stock from certain selling stockholders. As a result 9,054,022 shares of common stock were sold by certain selling stockholders at a price of $19.75 per share in this secondary offering. The Company did not sell any shares in or receive any proceeds from this secondary offering, except for $7.5 million of proceeds from the exercise of stock options. The Company incurred expenses of $0.6 million related to legal, accounting and other fees in connection with the secondary offering, which are included in selling, general and administrative expenses in the condensed consolidated statement of income for the thirty-nine weeks ended October 29, 2016. On June 6, 2016, the Company completed a secondary offering of 12,152,800 shares of common stock. In addition, on June 10, 2016, the underwriters exercised their option to purchase an additional 1,822,920 shares of the Company’s common stock from certain selling stockholders. As a result 13,975,720 shares of common stock were sold by certain selling stockholders at a price of $25.00 per share in this secondary offering. The Company did not sell any shares in or receive any proceeds from this secondary offering. The Company incurred expenses of $0.6 million related to legal, accounting and other fees in connection with this secondary offering, which are included in selling, general and administrative expenses in the condensed consolidated statement of income for the thirty-nine weeks ended October 29, 2016. On September 6, 2016, the Company completed a secondary offering of 13,725,798 shares of common stock. The shares were sold by certain selling stockholders at a price of $26.07 per share in this secondary offering. The Company did not sell any shares in or receive any proceeds from this secondary offering. The Company incurred expenses of $0.6 million related to legal, accounting and other fees in connection with this secondary offering, which are included in selling, general and administrative expenses in the condensed consolidated statement of income for the thirteen and thirty-nine weeks ended October 29, 2016. (b) Fiscal Year Ollie’s follows a 52/53-week fiscal year, which ends on the Saturday nearest to January 31st. References to the fiscal year ended January 30, 2016 refer to the period from February 1, 2015 to January 30, 2016. The fiscal quarters ended October 29, 2016 and October 31, 2015 refer to the thirteen weeks from July 31, 2016 to October 29, 2016 and from August 2, 2015 to October 31, 2015, respectively. The year-to-date periods ended October 29, 2016 and October 31, 2015 refer to the thirty-nine weeks from January 31, 2016 to October 29, 2016 and February 1, 2015 to October 31, 2015, respectively. (c) Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The condensed consolidated financial statements reflect all normal recurring adjustments which management believes are necessary to present fairly the Company’s financial condition, results of operations, and cash flows for all periods presented. The condensed consolidated balance sheets as of October 29, 2016 and October 31, 2015, the condensed consolidated statements of income for the thirteen and thirty-nine weeks ended October 29, 2016 and October 31, 2015, respectively, and the condensed consolidated statements of stockholders’ equity and cash flows for the thirty-nine weeks ended October 29, 2016 and October 31, 2015 have been prepared by the Company and are unaudited. The Company’s business is seasonal in nature and results of operations for the interim periods presented are not necessarily indicative of operating results for the year ending January 28, 2017 or any other period. All intercompany accounts, transactions, and balances have been eliminated in consolidation. The Company’s balance sheet as of January 30, 2016, presented herein, has been derived from the audited balance sheet included in the Company’s Annual Report on Form 10-K filed with the SEC on April 11, 2016 (“Annual Report”), but does not include all disclosures required by GAAP. These financial statements should be read in conjunction with the financial statements for the fiscal year ended January 30, 2016 and footnotes thereto included in the Annual Report. For purposes of the disclosure requirements for segments of a business enterprise, it has been determined that the Company is comprised of one operating segment. (d) Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. (e) Fair Value Disclosures Fair value is defined as the price which the Company would receive to sell an asset or pay to transfer a liability (an exit price) in an orderly transaction between market participants on the measurement date. In determining fair value, GAAP establishes a three‑level hierarchy used in measuring fair value, as follows: · Level 1 inputs are quoted prices available for identical assets and liabilities in active markets. · Level 2 inputs are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets and liabilities in active markets or other inputs which are observable or can be corroborated by observable market data. · Level 3 inputs are less observable and reflect the Company’s assumptions. The Company’s financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable, revolving credit facility and term loan facility. The carrying amount of cash and cash equivalents, accounts receivable and accounts payable approximates fair value because of their short maturities. The carrying amount of the revolving credit facility and term loan facility approximates its fair value because the interest rates are adjusted regularly based on current market conditions. (f) Recently Issued Accounting Pronouncements Revenue In May 2014, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers Debt Issuance Costs In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements Deferred Taxes In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes Leases In February 2016, the FASB issued ASU 2016-02, Leases Stock Compensation In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting (g) Reclassification Certain prior-year amounts have been reclassified to conform to current-year presentation.

Earnings per Common Share

Earnings per Common Share	9 Months Ended
	Oct. 29, 2016
Earnings per Common Share [Abstract]
Earnings per Common Share	(2) Earnings per Common Share Basic earnings per common share is computed by dividing net income by the weighted average number of common shares outstanding. Diluted earnings per common share is computed by dividing net income by the weighted average number of common shares outstanding, after giving effect to the potential dilution, if applicable, from the assumed exercise of stock options into shares of common stock as if those stock options were exercised as well as assumed lapse of restrictions on restricted stock units. The following table summarizes those effects for the diluted net income per common share calculation (in thousands, except per share amounts): Thirteen weeks ended Thirty-nine weeks ended October 29, 2016 October 31, 2015 October 29, 2016 October 31, 2015 Net income $ 10,461 $ 6,762 $ 35,344 $ 19,775 Weighted average number of common shares outstanding – Basic 60,301 58,478 60,005 52,259 Dilutive impact of stock options and restricted stock units 2,214 2,226 2,242 1,843 Weighted average number of common shares outstanding - Diluted 62,515 60,704 62,247 54,102 Earnings per common share – Basic $ 0.17 $ 0.12 $ 0.59 $ 0.38 Earnings per common share - Diluted $ 0.17 $ 0.11 $ 0.57 $ 0.37 Weighted average stock option shares totaling 3,736 and 578,890 for the thirteen weeks ended October 29, 2016 and October 31, 2015, respectively, and 106,284 and 661,314 for the thirty-nine weeks ended October 29, 2016 and October 31, 2015, respectively were excluded from the calculation of diluted weighted average common shares outstanding because the effect would have been antidilutive.

Accrued Expenses

Accrued Expenses	9 Months Ended
	Oct. 29, 2016
Accrued Expenses [Abstract]
Accrued Expenses	(3) Accrued Expenses Accrued expenses consists of the following (in thousands): October 29, October 31, January 30, Accrued compensation and benefits $ 12,622 $ 9,350 $ 10,775 Sales and use taxes 3,319 2,538 2,278 Accrued real estate related 3,191 2,271 2,659 Accrued insurance 3,318 3,091 2,605 Accrued advertising 3,946 2,811 3,519 Accrued freight 6,690 3,428 3,620 Other 10,125 7,832 10,117 $ 43,211 $ 31,321 $ 35,573

Debt Obligations and Financing

Debt Obligations and Financing Arrangements	9 Months Ended
	Oct. 29, 2016
Debt Obligations and Financing Arrangements [Abstract]
Debt Obligations and Financing Arrangements	(4) Debt Obligations and Financing Arrangements Long-term debt consists of the following (in thousands): October 29, 2016 October 31, 2015 January 30, 2016 Term loan, net $ 194,903 $ 209,367 $ 198,385 Capital leases 293 70 66 Total debt 195,196 209,437 198,451 Less: current portion (5,091 ) (3,367 ) (5,018 ) Long-term debt $ 190,105 $ 206,070 $ 193,433 On January 29, 2016, the Company completed a transaction, in which it refinanced its existing Senior Secured Credit Facility with the proceeds of the New Credit Facilities (as defined below). The new credit facilities consist of a $200.0 million term loan (“New Term Loan”) and a $100.0 million revolving credit facility (“New Revolving Credit Facility”, and together with the New Term Loan, the “New Credit Facilities”) which includes a $25.0 million sub-facility for letters of credit and a $25.0 million sub-facility for swingline loans. The interest rates for the New Credit Facilities are not subject to a floor and are calculated as the higher of the Prime Rate, the Federal Funds Effective Rate plus 0.50% or the Eurodollar Rate plus 1.0%, plus the Applicable Margin, or, for Eurodollar Loans, the Eurodollar Rate plus the Applicable Margin. The Applicable Margin will vary from 0.75% to 1.25% for a Base Rate Loan and 1.75% to 2.25% for a Eurodollar Loan, based on reference to the total leverage ratio. The New Credit Facilities mature on January 29, 2021. As of January 30, 2016, the New Term Loan is subject to amortization with principal payable in quarterly installments of $1.25 million to be made on the last business day of each fiscal quarter prior to maturity commencing on April 29, 2016. The quarterly installment payments increase after fiscal year ended February 3, 2018 to $2.5 million. The remaining initial aggregate advances under the New Term Loan are payable at maturity. Under the terms of the New Revolving Credit Facility, as of October 29, 2016 the Company could borrow up to 90.0% of the most recent appraised value (valued at cost, discounted for the current net orderly liquidation value) of its eligible inventory, as defined, up to $100.0 million. As of October 29, 2016, Ollie’s had $196.3 million of outstanding borrowings under the New Term Loan and no outstanding borrowings under the New Revolving Credit Facility, with $98.3 million of borrowing availability, letter of credit commitments of $1.5 million and $0.2 million of rent reserves. The interest rate on the outstanding borrowings under the New Term Loan was 1.75% plus the 30-day Eurodollar Rate, or 2.28%. The New Revolving Credit Facility also contains a variable unused line fee ranging from 0.250% to 0.375% per annum. As of October 29, 2016, October 31, 2015, and January 3 0 0. , . The New Credit Facilities are collateralized by the Company’s assets and equity and contain financial covenants, as well as certain business covenants, including restrictions on dividend payments, which the Company must comply with during the term of the agreements. The Company was in compliance with all terms of the New Credit Facilities during the thirteen and thirty-nine weeks ended October 29, 2016. The provisions of the New Credit Facilities restrict all of the net assets of the Company’s consolidated subsidiaries, which constitutes all of the net assets on the Company’s consolidated balance sheet as of October 29, 2016, from being used to pay any dividends or make other restricted payments to the Company without prior written consent from the financial institutions that are a party to the New Credit Facilities, subject to certain exceptions.

Income Taxes

Income Taxes	9 Months Ended
	Oct. 29, 2016
Income Taxes [Abstract]
Income Taxes	(5) Income Taxes The provision for income taxes is based on the current estimate of the annual effective tax rate and is adjusted as necessary for discrete events occurring in a particular period. The effective tax rates for the thirteen and thirty-nine weeks ended October 29, 2016 were 39.3% and 38.1%, respectively. The effective tax rates for the thirteen and thirty-nine weeks ended October 31, 2015 were 36.5% and 37.5%, respectively. The effective tax rate was lower in the prior fiscal periods primarily as a result of a discrete tax benefit related to the impact from the finalization of employment-based tax credits.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Oct. 29, 2016
Commitments and Contingencies [Abstract]
Commitments and Contingencies	(6) Commitments and Contingencies The Company commenced 31 new store leases during the thirty-nine weeks ended October 29, 2016. The fully executed leases have initial terms typically between five to seven years with options to renew for two or three successive five-year periods. The initial terms of these new store leases have future minimum lease payments totaling approximately $34.9 million. From time to time we may be involved in claims and legal actions that arise in the ordinary course of our business. We cannot predict the outcome of any litigation or suit that we are party to. However, we do not believe that an unfavorable decision of any of the current claims or legal actions against us, individually or in the aggregate, will have a material adverse effect on our financial position, results of operations, liquidity or capital resources.

Equity Incentive Plans

Equity Incentive Plans	9 Months Ended
	Oct. 29, 2016
Equity Incentive Plans [Abstract]
Equity Incentive Plans	(7) Equity Incentive Plans During 2012, Ollie’s established an equity incentive plan (the “2012 Plan”), under which stock options were granted to executive officers and key employees as deemed appropriate under the provisions of the 2012 Plan, with an exercise price equal to the fair value of the underlying stock on the date of grant. The vesting period for options granted under the 2012 Plan is five years (20% ratably per year). Options granted under the 2012 Plan are subject to employment for vesting, expire 10 years from the date of grant, and are not transferable other than upon death. As of July 15, 2015, the date of the pricing of the IPO, no additional equity grants will be made under the 2012 Plan. In connection with the IPO, the Company adopted the 2015 equity incentive plan (the “2015 Plan”) pursuant to which the Company’s board of directors (the “Board”) may grant stock options, restricted shares or other awards to employees, directors and consultants. The 2015 Plan allows for the issuance of up to 5,250,000 shares. Awards are made pursuant to agreements and may be subject to vesting and other restrictions as determined by the Board or the compensation committee of the Board. The exercise price for stock options is determined equal to the fair value on the underlying stock on the date of grant. The vesting period for awards granted under the 2015 Plan is generally set at four years (25% ratably per year). Awards are subject to employment for vesting, expire 10 years from the date of grant, and are not transferable other than upon death. The Company uses authorized and unissued shares to satisfy share award exercises. As of October 29, 2016, there were 4,142,897 shares available for grant under the 2015 Plan. A summary of the Company’s stock option activity and related information for the thirty-nine weeks ended October 29, 2016, is as follows: Number of options Weighted average exercise price Weighted average remaining contractual term (years) Outstanding at January 30, 2016 6,991,825 $ 8.04 Granted 511,845 20.29 Forfeited (125,131 ) 8.24 Exercised (1,721,890 ) 6.82 Outstanding at October 29, 2016 5,656,649 9.51 7.0 Exercisable at October 29, 2016 3,053,272 7.23 6.3 The Company uses the Black-Scholes option pricing model to value its stock option awards. The assumptions used in calculating the fair value of stock-based awards represent management’s best estimates and involve inherent uncertainties and the application of management’s judgment. As a result, if factors change and management uses different assumptions, stock-based compensation expense could be materially different for future awards. The expected life of stock options was estimated using the “simplified method,” as the Company has no historical information to develop reasonable expectations about future exercise patterns and post-vesting employment termination behavior for its stock option grants. The simplified method is based on the average of the vesting tranches and the contractual life of each grant. For stock price volatility, the Company uses comparable public companies as a basis for its expected volatility to calculate the fair value of option grants. The risk-free interest rate is based on U.S. Treasury notes with a term approximating the expected life of the option. The weighted average grant date fair value per option for options granted during the thirty-nine weeks ended October 29, 2016 and October 31, 2015 was $6.45 and $5.03, respectively. The fair value of each option award is estimated on the date of grant using the Black-Scholes option-pricing model that used the weighted average assumptions in the following table: Thirty-nine weeks ended October 29, 2016 October 31, 2015 Risk-free interest rate 1.72 % 1.99 % Expected dividend yield — — Expected term (years) 6.25 years 6.4 years Expected volatility 28.52 % 31.67 % Restricted Stock Units (“RSUs”) A summary of the Company’s restricted stock units (“RSUs”) activity and related information for the thirty-nine weeks ended October 29, 2016 Number of shares Weighted average grant date fair value Nonvested balance at January 30, 2016 — $ - Granted 137,279 20.34 Forfeited (740 ) 20.26 Nonvested balance at October 29, 2016 136,539 20.34 Stock Based Compensation Expense The compensation cost for stock options and RSUs which have been recorded within selling, general and administrative expenses related to the Company’s equity incentive plans was $1.7 million and $5.0 million for the thirteen and weeks ended October 29, 2016, respectively and $1.4 million and $3.7 million for the thirteen and weeks ended , respectively. As of October 29, 2016 there was $14.3 million of total unrecognized compensation cost related to non-vested stock-based compensation arrangements. That cost is expected to be recognized over a weighted average period of 3.4 years as of October 29, 2016. Compensation costs related to awards are recognized using the straight-line method.

Transactions with Related Parti

Transactions with Related Parties	9 Months Ended
	Oct. 29, 2016
Transactions with Related Parties
Transactions with Related Parties	(8) Transactions with Related Parties The Company has entered into five non-cancelable operating leases with related parties for office and store locations. Ollie’s has made $0.9 million in rent payments to such related parties during each of the thirty-nine weeks ended October 29, 2016 and October 31, 2015. During each of the thirty-nine weeks ended October 29, 2016 and October 31, 2015, the Company paid approximately $0.1 million for the use of an airplane owned by a related party.

Organization and Summary of S16

Organization and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Oct. 29, 2016
Organization and Summary of Significant Accounting Policies [Abstract]
Fiscal Year	(b) Fiscal Year Ollie’s follows a 52/53-week fiscal year, which ends on the Saturday nearest to January 31st. References to the fiscal year ended January 30, 2016 refer to the period from February 1, 2015 to January 30, 2016. The fiscal quarters ended October 29, 2016 and October 31, 2015 refer to the thirteen weeks from July 31, 2016 to October 29, 2016 and from August 2, 2015 to October 31, 2015, respectively. The year-to-date periods ended October 29, 2016 and October 31, 2015 refer to the thirty-nine weeks from January 31, 2016 to October 29, 2016 and February 1, 2015 to October 31, 2015, respectively.
Basis of Presentation	(c) Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The condensed consolidated financial statements reflect all normal recurring adjustments which management believes are necessary to present fairly the Company’s financial condition, results of operations, and cash flows for all periods presented. The condensed consolidated balance sheets as of October 29, 2016 and October 31, 2015, the condensed consolidated statements of income for the thirteen and thirty-nine weeks ended October 29, 2016 and October 31, 2015, respectively, and the condensed consolidated statements of stockholders’ equity and cash flows for the thirty-nine weeks ended October 29, 2016 and October 31, 2015 have been prepared by the Company and are unaudited. The Company’s business is seasonal in nature and results of operations for the interim periods presented are not necessarily indicative of operating results for the year ending January 28, 2017 or any other period. All intercompany accounts, transactions, and balances have been eliminated in consolidation. The Company’s balance sheet as of January 30, 2016, presented herein, has been derived from the audited balance sheet included in the Company’s Annual Report on Form 10-K filed with the SEC on April 11, 2016 (“Annual Report”), but does not include all disclosures required by GAAP. These financial statements should be read in conjunction with the financial statements for the fiscal year ended January 30, 2016 and footnotes thereto included in the Annual Report. For purposes of the disclosure requirements for segments of a business enterprise, it has been determined that the Company is comprised of one operating segment.
Use of Estimates	(d) Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Fair Value Disclosures	(e) Fair Value Disclosures Fair value is defined as the price which the Company would receive to sell an asset or pay to transfer a liability (an exit price) in an orderly transaction between market participants on the measurement date. In determining fair value, GAAP establishes a three‑level hierarchy used in measuring fair value, as follows: · Level 1 inputs are quoted prices available for identical assets and liabilities in active markets. · Level 2 inputs are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets and liabilities in active markets or other inputs which are observable or can be corroborated by observable market data. · Level 3 inputs are less observable and reflect the Company’s assumptions. The Company’s financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable, revolving credit facility and term loan facility. The carrying amount of cash and cash equivalents, accounts receivable and accounts payable approximates fair value because of their short maturities. The carrying amount of the revolving credit facility and term loan facility approximates its fair value because the interest rates are adjusted regularly based on current market conditions.
Recently Issued Accounting Pronouncements	(f) Recently Issued Accounting Pronouncements Revenue In May 2014, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers Debt Issuance Costs In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements Deferred Taxes In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes Leases In February 2016, the FASB issued ASU 2016-02, Leases Stock Compensation In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting
Reclassification	(g) Reclassification Certain prior-year amounts have been reclassified to conform to current-year presentation.

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	9 Months Ended
	Oct. 29, 2016
Earnings per Common Share [Abstract]
Diluted Net Income per Common Share Calculation	The following table summarizes those effects for the diluted net income per common share calculation (in thousands, except per share amounts): Thirteen weeks ended Thirty-nine weeks ended October 29, 2016 October 31, 2015 October 29, 2016 October 31, 2015 Net income $ 10,461 $ 6,762 $ 35,344 $ 19,775 Weighted average number of common shares outstanding – Basic 60,301 58,478 60,005 52,259 Dilutive impact of stock options and restricted stock units 2,214 2,226 2,242 1,843 Weighted average number of common shares outstanding - Diluted 62,515 60,704 62,247 54,102 Earnings per common share – Basic $ 0.17 $ 0.12 $ 0.59 $ 0.38 Earnings per common share - Diluted $ 0.17 $ 0.11 $ 0.57 $ 0.37

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Oct. 29, 2016
Accrued Expenses [Abstract]
Accrued Expenses	Accrued expenses consists of the following (in thousands): October 29, October 31, January 30, Accrued compensation and benefits $ 12,622 $ 9,350 $ 10,775 Sales and use taxes 3,319 2,538 2,278 Accrued real estate related 3,191 2,271 2,659 Accrued insurance 3,318 3,091 2,605 Accrued advertising 3,946 2,811 3,519 Accrued freight 6,690 3,428 3,620 Other 10,125 7,832 10,117 $ 43,211 $ 31,321 $ 35,573

Debt Obligations and Financin19

Debt Obligations and Financing Arrangements (Tables)	9 Months Ended
	Oct. 29, 2016
Debt Obligations and Financing Arrangements [Abstract]
Long-term Debt	Long-term debt consists of the following (in thousands): October 29, 2016 October 31, 2015 January 30, 2016 Term loan, net $ 194,903 $ 209,367 $ 198,385 Capital leases 293 70 66 Total debt 195,196 209,437 198,451 Less: current portion (5,091 ) (3,367 ) (5,018 ) Long-term debt $ 190,105 $ 206,070 $ 193,433

Equity Incentive Plans (Tables)

Equity Incentive Plans (Tables)	9 Months Ended
	Oct. 29, 2016
Equity Incentive Plans [Abstract]
Stock Option Activity	A summary of the Company’s stock option activity and related information for the thirty-nine weeks ended October 29, 2016, is as follows: Number of options Weighted average exercise price Weighted average remaining contractual term (years) Outstanding at January 30, 2016 6,991,825 $ 8.04 Granted 511,845 20.29 Forfeited (125,131 ) 8.24 Exercised (1,721,890 ) 6.82 Outstanding at October 29, 2016 5,656,649 9.51 7.0 Exercisable at October 29, 2016 3,053,272 7.23 6.3
Weighted Average Assumptions	The fair value of each option award is estimated on the date of grant using the Black-Scholes option-pricing model that used the weighted average assumptions in the following table: Thirty-nine weeks ended October 29, 2016 October 31, 2015 Risk-free interest rate 1.72 % 1.99 % Expected dividend yield — — Expected term (years) 6.25 years 6.4 years Expected volatility 28.52 % 31.67 %
RSU Activity	A summary of the Company’s restricted stock units (“RSUs”) activity and related information for the thirty-nine weeks ended October 29, 2016 Number of shares Weighted average grant date fair value Nonvested balance at January 30, 2016 — $ - Granted 137,279 20.34 Forfeited (740 ) 20.26 Nonvested balance at October 29, 2016 136,539 20.34

Organization and Summary of S21

Organization and Summary of Significant Accounting Policies (Details) $ / shares in Units, $ in Thousands	Sep. 06, 2016USD ($)$ / sharesshares	Jun. 06, 2016USD ($)$ / sharesshares	Feb. 19, 2016shares	Feb. 19, 2016USD ($)$ / sharesshares	Feb. 18, 2016USD ($)shares	Jul. 17, 2015$ / sharesshares	Jul. 17, 2015USD ($)$ / sharesshares	Jul. 15, 2015shares	Oct. 29, 2016USD ($)LocationStateSegmentshares	Oct. 31, 2015USD ($)shares	Jan. 30, 2016USD ($)
Description of Business [Abstract]
Number of retail locations | Location									232
Number of states in which retail locations are located | State									19
Initial Public Offering [Abstract]
Net proceeds from IPO									$ 0	$ 149,806
Secondary Offering [Abstract]
Proceeds from stock option exercises									$ 11,746	357
Basis of Presentation [Abstract]
Number of operating segments | Segment									1
Debt Issuance Costs [Abstract]
Other assets									$ 2,400	2,175	$ 2,520
Long-term debt									$ 190,105	$ 206,070	193,433
Common Stock [Member]
Initial Public Offering [Abstract]
Shares issued (in shares) | shares							10,263,750			10,264,000
Share price (in dollars per share) | $ / shares						$ 16	$ 16
Net proceeds from IPO							$ 153,100
Underwriting fees							$ 11,100
Secondary Offering [Abstract]
Number of options exercised (in shares) | shares									1,722,000	50,000
Common Stock [Member] | IPO [Member]
Initial Public Offering [Abstract]
Shares issued (in shares) | shares								8,925,000
Common Stock [Member] | Over-Allotment Option [Member]
Initial Public Offering [Abstract]
Shares issued (in shares) | shares						1,338,750
Common Stock [Member] | Secondary Offering [Member]
Secondary Offering [Abstract]
Shares sold in secondary offering (in shares) | shares	13,725,798	12,152,800			7,873,063
Shares purchased by underwriters in secondary offering (in shares) | shares		1,822,920	1,180,959
Shares sold in secondary offering, including shares purchased by underwriters (in shares) | shares		13,975,720		9,054,022
Number of options exercised (in shares) | shares					1,152,500
Share price of stock sold in secondary offering (in dollars per share) | $ / shares	$ 26.07	$ 25		$ 19.75
Proceeds from stock option exercises					$ 7,500
Common Stock [Member] | Secondary Offering [Member] | Selling, General and Administrative Expenses [Member]
Secondary Offering [Abstract]
Legal, accounting and other fees	$ 600	$ 600		$ 600
ASU 2015-03 [Member]
Debt Issuance Costs [Abstract]
Other assets										$ (3,000)	(1,500)
Long-term debt										$ (3,000)	$ (1,500)

Earnings per Common Share (Deta

Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2016	Oct. 31, 2015	Oct. 29, 2016	Oct. 31, 2015
Earnings per Common Share [Abstract]
Net income	$ 10,461	$ 6,762	$ 35,344	$ 19,775
Weighted average number of common shares outstanding - Basic (in shares)	60,301,000	58,478,000	60,005,000	52,259,000
Dilutive impact of stock options and restricted stock units (in shares)	2,214,000	2,226,000	2,242,000	1,843,000
Weighted average number of common shares outstanding - Diluted (in shares)	62,515,000	60,704,000	62,247,000	54,102,000
Earnings per common share - Basic (in dollars per share)	$ 0.17	$ 0.12	$ 0.59	$ 0.38
Earnings per common share - Diluted (in dollars per share)	$ 0.17	$ 0.11	$ 0.57	$ 0.37
Stock Options [Member]
Earnings per Common Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	3,736	578,890	106,284	661,314

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Oct. 29, 2016	Jan. 30, 2016	Oct. 31, 2015
Accrued Expenses [Abstract]
Accrued compensation and benefits	$ 12,622	$ 10,775	$ 9,350
Sales and use taxes	3,319	2,278	2,538
Accrued real estate related	3,191	2,659	2,271
Accrued insurance	3,318	2,605	3,091
Accrued advertising	3,946	3,519	2,811
Accrued freight	6,690	3,620	3,428
Other	10,125	10,117	7,832
Total accrued expenses	$ 43,211	$ 35,573	$ 31,321

Debt Obligations and Financin24

Debt Obligations and Financing Arrangements, Long-term Debt (Details) - USD ($) $ in Thousands	Oct. 29, 2016	Jan. 30, 2016	Oct. 31, 2015
Debt Obligations and Financing Arrangements [Abstract]
Term loan, net	$ 194,903	$ 198,385	$ 209,367
Capital leases	293	66	70
Total debt	195,196	198,451	209,437
Less: current portion	(5,091)	(5,018)	(3,367)
Long-term debt	$ 190,105	$ 193,433	$ 206,070

Debt Obligations and Financin25

Debt Obligations and Financing Arrangements, New Credit Facilities (Details) - USD ($) $ in Thousands	9 Months Ended
	Oct. 29, 2016	Jan. 30, 2016	Jan. 29, 2016	Oct. 31, 2015
New Credit Facilities [Member]
Debt Obligations and Financing Arrangements [Abstract]
Maturity date	Jan. 29, 2021
New Credit Facilities [Member] | Federal Funds Effective Rate [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	0.50%
New Credit Facilities [Member] | Eurodollar Rate [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	1.00%
New Credit Facilities [Member] | Eurodollar Rate [Member] | Minimum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	1.75%
New Credit Facilities [Member] | Eurodollar Rate [Member] | Maximum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	2.25%
New Credit Facilities [Member] | Base Rate [Member] | Minimum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	0.75%
New Credit Facilities [Member] | Base Rate [Member] | Maximum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	1.25%
New Term Loan [Member]
Debt Obligations and Financing Arrangements [Abstract]
Face amount			$ 200,000
Frequency of principal payment	Quarterly
Outstanding borrowings	$ 196,300
Interest rate on outstanding borrowings	2.28%
Unamortized original issue discount	$ 100	$ 100		$ 1,600
Deferred financing fees	1,300	$ 1,500		$ 3,000
New Term Loan [Member] | Commencing April 29, 2016 [Member]
Debt Obligations and Financing Arrangements [Abstract]
Principal payment	1,250
New Term Loan [Member] | After Fiscal Year Ended February 3, 2018 [Member]
Debt Obligations and Financing Arrangements [Abstract]
Principal payment	$ 2,500
New Term Loan [Member] | Eurodollar Rate [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	1.75%
Term of variable rate	30 days
New Revolving Credit Facility [Member]
Debt Obligations and Financing Arrangements [Abstract]
Maximum borrowing capacity	$ 100,000		100,000
Percentage of most recent appraised value of eligible inventory	90.00%
Outstanding borrowings	$ 0
Borrowing availability	98,300
Letter of credit commitments	1,500
Rent reserves	$ 200
New Revolving Credit Facility [Member] | Minimum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Variable unused line fee percentage	0.25%
New Revolving Credit Facility [Member] | Maximum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Variable unused line fee percentage	0.375%
Letters of Credit [Member]
Debt Obligations and Financing Arrangements [Abstract]
Maximum borrowing capacity			25,000
Swingline Loans [Member]
Debt Obligations and Financing Arrangements [Abstract]
Maximum borrowing capacity			$ 25,000

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Oct. 29, 2016	Oct. 31, 2015	Oct. 29, 2016	Oct. 31, 2015
Income Taxes [Abstract]
Effective tax rate percentage	39.30%	36.50%	38.10%	37.50%

Commitments and Contingencies (

Commitments and Contingencies (Details) - New Stores [Member] $ in Millions	9 Months Ended
	Oct. 29, 2016USD ($)LeaseOption
Commitments and Contingencies [Abstract]
Number of new store leases | Lease	31
Renewal term of leases	5 years
Future minimum lease payments | $	$ 34.9
Minimum [Member]
Commitments and Contingencies [Abstract]
Initial term of leases	5 years
Number of options to renew leases	2
Maximum [Member]
Commitments and Contingencies [Abstract]
Initial term of leases	7 years
Number of options to renew leases	3

Equity Incentive Plans, Equity

Equity Incentive Plans, Equity Incentive Plans (Details)	9 Months Ended
	Oct. 29, 2016shares
2012 Plan [Member] | Stock Options [Member]
Equity Incentive Plans [Abstract]
Vesting period	5 years
Vesting percentage	20.00%
Expiration period	10 years
2015 Plan [Member]
Equity Incentive Plans [Abstract]
Vesting period	4 years
Vesting percentage	25.00%
Expiration period	10 years
Number of shares authorized for issuance (in shares)	5,250,000
Number of shares available for grant (in shares)	4,142,897

Equity Incentive Plans, Stock O

Equity Incentive Plans, Stock Option Activity (Details) - Stock Options [Member]	9 Months Ended
	Oct. 29, 2016$ / sharesshares
Number of Options [Roll Forward]
Outstanding at beginning of period (in shares) | shares	6,991,825
Granted (in shares) | shares	511,845
Forfeited (in shares) | shares	(125,131)
Exercised (in shares) | shares	(1,721,890)
Outstanding at end of period (in shares) | shares	5,656,649
Exercisable at end of period (in shares) | shares	3,053,272
Weighted Average Exercise Price [Abstract]
Outstanding at beginning of period (in dollars per share) | $ / shares	$ 8.04
Granted (in dollars per share) | $ / shares	20.29
Forfeited (in dollars per share) | $ / shares	8.24
Exercised (in dollars per share) | $ / shares	6.82
Outstanding at end of period (in dollars per share) | $ / shares	9.51
Exercisable at end of period (in dollars per share) | $ / shares	$ 7.23
Weighted Average Remaining Contractual Term [Abstract]
Outstanding at end of period	7 years
Exercisable at end of period	6 years 3 months 18 days

Equity Incentive Plans, Weighte

Equity Incentive Plans, Weighted Average Assumptions (Details) - $ / shares	9 Months Ended
	Oct. 29, 2016	Oct. 31, 2015
Equity Incentive Plans [Abstract]
Weighted average grant date fair value per option granted (in dollars per share)	$ 6.45	$ 5.03
Risk-free interest rate	1.72%	1.99%
Expected dividend yield	0.00%	0.00%
Expected term	6 years 3 months	6 years 4 months 24 days
Expected volatility	28.52%	31.67%

Equity Incentive Plans, RSU Act

Equity Incentive Plans, RSU Activity (Details) - Restricted Stock Units [Member]	9 Months Ended
	Oct. 29, 2016$ / sharesshares
Number of Shares [Roll Forward]
Nonvested at beginning of period (in shares) | shares	0
Granted (in shares) | shares	137,279
Forfeited (in shares) | shares	(740)
Nonvested at end of period (in shares) | shares	136,539
Weighted Average Grant Date Fair Value [Abstract]
Nonvested at beginning of period (in dollars per share) | $ / shares	$ 0
Granted (in dollars per share) | $ / shares	20.34
Forfeited (in dollars per share) | $ / shares	20.26
Nonvested at end of period (in dollars per share) | $ / shares	$ 20.34

Equity Incentive Plans, Stock-B

Equity Incentive Plans, Stock-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 29, 2016	Oct. 31, 2015	Oct. 29, 2016	Oct. 31, 2015
Stock-Based Compensation Expense [Abstract]
Total unrecognized compensation cost related to non-vested stock-based compensation arrangements	$ 14.3		$ 14.3
Weighted average period to recognize stock-based compensation expense			3 years 4 months 24 days
Selling, General and Administrative Expenses [Member]
Stock-Based Compensation Expense [Abstract]
Compensation expense	$ 1.7	$ 1.4	$ 5	$ 3.7

Transactions with Related Par33

Transactions with Related Parties (Details) $ in Millions	9 Months Ended
	Oct. 29, 2016USD ($)Lease	Oct. 31, 2015USD ($)
Operating Leases for Office and Store Locations [Member]
Transactions with Related Parties [Abstract]
Number of non-cancelable operating leases with related parties | Lease	5
Payments to related parties	$ 0.9	$ 0.9
Use of Airplane [Member]
Transactions with Related Parties [Abstract]
Payments to related parties	$ 0.1	$ 0.1