Ollie's Bargain Outlet (OLLI) 10-Q 7 Dec 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Oct. 29, 2022	Dec. 02, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Oct. 29, 2022
Current Fiscal Year End Date	--01-28
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Document Transition Report	false
Entity Registrant Name	Ollie’s Bargain Outlet Holdings, Inc.
Entity Central Index Key	0001639300
Entity Incorporation, State or Country Code	DE
Entity File Number	001-37501
Entity Tax Identification Number	80-0848819
Entity Address, Address Line One	6295 Allentown Boulevard
Entity Address, Address Line Two	Suite 1
Entity Address, City or Town	Harrisburg
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	17112
City Area Code	717
Local Phone Number	657-2300
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	OLLI
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		62,239,013

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021
Condensed Consolidated Statements of Income [Abstract]
Net sales	$ 418,072	$ 383,487	$ 1,277,220	$ 1,251,860
Cost of sales	253,396	230,927	827,609	753,655
Gross profit	164,676	152,560	449,611	498,205
Selling, general, and administrative expenses	124,810	114,048	359,549	328,537
Depreciation and amortization expenses	5,872	4,956	16,698	14,109
Pre-opening expenses	4,462	3,343	10,142	8,419
Operating income	29,532	30,213	63,222	147,140
Interest (income) expense, net	(866)	70	(880)	111
Income before income taxes	30,398	30,143	64,102	147,029
Income tax expense	7,316	6,958	14,400	34,301
Net income	$ 23,082	$ 23,185	$ 49,702	$ 112,728
Earnings per common share:
Basic (in dollars per share)	$ 0.37	$ 0.36	$ 0.79	$ 1.74
Diluted (in dollars per share)	$ 0.37	$ 0.36	$ 0.79	$ 1.72
Weighted average common shares outstanding:
Basic (in shares)	62,507	63,915	62,603	64,909
Diluted (in shares)	62,751	64,298	62,810	65,414

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 29, 2022	Jan. 29, 2022	Oct. 30, 2021
Current assets:
Cash and cash equivalents	$ 182,104	$ 246,977	$ 229,726
Inventories	523,728	467,306	471,800
Accounts receivable	1,363	1,372	603
Prepaid expenses and other current assets	7,157	11,173	10,386
Total current assets	714,352	726,828	712,515
Property and equipment, net of accumulated depreciation of $142,789, $116,088 and $122,632, respectively	170,133	147,164	146,675
Operating lease right-of-use assets	447,922	420,568	409,665
Goodwill	444,850	444,850	444,850
Trade name	230,559	230,559	230,559
Other assets	2,152	2,203	2,299
Total assets	2,009,968	1,972,172	1,946,563
Current liabilities:
Current portion of long-term debt	445	332	353
Accounts payable	83,210	106,599	121,893
Income taxes payable	0	2,556	0
Current portion of operating lease liabilities	81,589	75,535	73,837
Accrued expenses and other current liabilities	86,949	78,246	78,513
Total current liabilities	252,193	263,268	274,596
Revolving credit facility	0	0	0
Long-term debt	1,006	719	724
Deferred income taxes	65,418	66,179	66,416
Long-term portion of operating lease liabilities	373,228	354,293	344,344
Other long-term liabilities	1	3	3
Total liabilities	691,846	684,462	686,083
Stockholders' equity:
Preferred stock - 50,000 shares authorized at $0.001 par value; no shares issued	0	0	0
Common stock - 500,000 shares authorized at $0.001 par value; 66,665, 66,454 and 66,516 shares issued, respectively	67	67	66
Additional paid-in capital	674,958	664,293	661,787
Retained earnings	933,424	883,722	838,995
Treasury - common stock, at cost; 4,418, 3,382 and 3,816 shares, respectively	(290,327)	(260,372)	(240,368)
Total stockholders' equity	1,318,122	1,287,710	1,260,480
Total liabilities and stockholders' equity	$ 2,009,968	$ 1,972,172	$ 1,946,563

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Oct. 29, 2022	Jan. 29, 2022	Oct. 30, 2021
Assets
Property and equipment, accumulated depreciation	$ 142,789	$ 122,632	$ 116,088
Stockholders' equity:
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000	50,000,000
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)	500,000,000	500,000,000	500,000,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001
Common stock, shares issued (in shares)	66,665,000	66,516,000	66,454,000
Treasury - common stock (in shares)	4,418,000	3,816,000	3,382,000

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance at Jan. 30, 2021	$ 66	$ (40,401)	$ 648,949	$ 726,267	$ 1,334,881
Beginning balance (in shares) at Jan. 30, 2021	66,165
Beginning balance (in shares) at Jan. 30, 2021		(702)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 0	$ 0	5,959	0	5,959
Proceeds from stock options exercised	$ 0	$ 0	8,103	0	8,103
Proceeds from stock options exercised (in shares)	246	0
Vesting of restricted stock	$ 0	$ 0	0	0	0
Vesting of restricted stock (in shares)	57	0
Common shares withheld for taxes	$ 0	$ 0	(1,224)	0	(1,224)
Common shares withheld for taxes (in shares)	(14)	0
Shares repurchased	$ 0	$ (199,967)	0	0	(199,967)
Shares repurchased (in shares)	0	(2,680)
Net income	$ 0	$ 0	0	112,728	112,728
Ending balance at Oct. 30, 2021	$ 66	$ (240,368)	661,787	838,995	1,260,480
Ending balance (in shares) at Oct. 30, 2021	66,454
Ending balance (in shares) at Oct. 30, 2021		(3,382)
Beginning balance at Jul. 31, 2021	$ 66	$ (75,661)	658,899	815,810	1,399,114
Beginning balance (in shares) at Jul. 31, 2021	66,388
Beginning balance (in shares) at Jul. 31, 2021		(1,132)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 0	$ 0	1,627	0	1,627
Proceeds from stock options exercised	$ 0	$ 0	1,304	0	1,304
Proceeds from stock options exercised (in shares)	65	0
Vesting of restricted stock	$ 0	$ 0	0	0	0
Vesting of restricted stock (in shares)	2	0
Common shares withheld for taxes	$ 0	$ 0	(43)	0	(43)
Common shares withheld for taxes (in shares)	(1)	0
Shares repurchased	$ 0	$ (164,707)	0	0	(164,707)
Shares repurchased (in shares)	0	(2,250)
Net income	$ 0	$ 0	0	23,185	23,185
Ending balance at Oct. 30, 2021	$ 66	$ (240,368)	661,787	838,995	1,260,480
Ending balance (in shares) at Oct. 30, 2021	66,454
Ending balance (in shares) at Oct. 30, 2021		(3,382)
Beginning balance at Jan. 29, 2022	$ 67	$ (260,372)	664,293	883,722	1,287,710
Beginning balance (in shares) at Jan. 29, 2022	66,516
Beginning balance (in shares) at Jan. 29, 2022		(3,816)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 0	$ 0	7,313	0	7,313
Proceeds from stock options exercised	$ 0	$ 0	3,866	0	3,866
Proceeds from stock options exercised (in shares)	115	0
Vesting of restricted stock	$ 0	$ 0	0	0	0
Vesting of restricted stock (in shares)	45	0
Common shares withheld for taxes	$ 0	$ 0	(514)	0	(514)
Common shares withheld for taxes (in shares)	(11)	0
Shares repurchased	$ 0	$ (29,955)	0	0	(29,955)
Shares repurchased (in shares)	0	(602)
Net income	$ 0	$ 0	0	49,702	49,702
Ending balance at Oct. 29, 2022	$ 67	$ (290,327)	674,958	933,424	1,318,122
Ending balance (in shares) at Oct. 29, 2022	66,665
Ending balance (in shares) at Oct. 29, 2022		(4,418)
Beginning balance at Jul. 30, 2022	$ 67	$ (270,323)	672,107	910,342	1,312,193
Beginning balance (in shares) at Jul. 30, 2022	66,652
Beginning balance (in shares) at Jul. 30, 2022		(4,054)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 0	$ 0	2,590	0	2,590
Proceeds from stock options exercised	$ 0	$ 0	273	0	273
Proceeds from stock options exercised (in shares)	12	0
Vesting of restricted stock	$ 0	$ 0	0	0	0
Vesting of restricted stock (in shares)	1	0
Common shares withheld for taxes	$ 0	$ 0	(12)	0	(12)
Common shares withheld for taxes (in shares)	0	0
Shares repurchased	$ 0	$ (20,004)	0	0	(20,004)
Shares repurchased (in shares)	0	(364)
Net income	$ 0	$ 0	0	23,082	23,082
Ending balance at Oct. 29, 2022	$ 67	$ (290,327)	$ 674,958	$ 933,424	$ 1,318,122
Ending balance (in shares) at Oct. 29, 2022	66,665
Ending balance (in shares) at Oct. 29, 2022		(4,418)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021
Cash Flows from Operating Activities:
Net income	$ 49,702	$ 112,728
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment	20,964	18,232
Amortization of debt issuance costs	192	192
Gain on sale of assets	(280)	(158)
Deferred income tax provision	(761)	1,352
Stock-based compensation expense	7,313	5,959
Changes in operating assets and liabilities:
Inventories	(56,422)	(118,096)
Accounts receivable	9	18
Prepaid expenses and other assets	3,875	(3,140)
Accounts payable	(24,050)	4,543
Income taxes payable	(2,556)	(10,960)
Accrued expenses and other liabilities	2,993	(7,979)
Net cash provided by operating activities	979	2,691
Cash Flows from Investing Activities:
Purchases of property and equipment	(38,937)	(29,618)
Proceeds from sale of property and equipment	311	3,105
Net cash used in investing activities	(38,626)	(26,513)
Cash Flows from Financing Activities:
Repayments on finance leases	(623)	(490)
Proceeds from stock option exercises	3,866	8,103
Common shares withheld for taxes	(514)	(1,224)
Payment for shares repurchased	(29,955)	(199,967)
Net cash used in financing activities	(27,226)	(193,578)
Net decrease in cash and cash equivalents	(64,873)	(217,400)
Cash and cash equivalents, beginning of the period	246,977	447,126
Cash and cash equivalents, end of the period	182,104	229,726
Cash paid during the period for:
Interest	286	288
Income taxes	19,012	50,160
Non-cash investing activities:
Accrued purchases of property and equipment	$ 7,192	$ 1,577

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	9 Months Ended
	Oct. 29, 2022
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. and subsidiaries (collectively referred to as the “Company” or “Ollie’s”) principally buys overproduced, overstocked, and closeout merchandise from manufacturers, wholesalers, and other retailers. In addition, the Company augments its name-brand closeout deals with directly sourced private label products featuring names exclusive to Ollie’s in order to provide consistently value-priced goods in select key merchandise categories. Since its first store opened in 1982, the Company has grown to 463 retail locations in 29 states as of October 29, 2022. Ollie’s Bargain Outlet retail locations are located in Alabama, Arkansas, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Mississippi, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Vermont, Virginia, and West Virginia. (b) Fiscal Year Ollie’s st . (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 . The Company’s balance sheet as of January 29, 2022, 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 March 25, 2022 (“Annual Report”), but does not include all disclosures required by GAAP. These financial statements should be read in conjunction with the financial statements for 2021 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 and its credit facilities. 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 Company’s credit facilities approximates its fair value because the interest rates are adjusted regularly based on current market conditions. (f) I Th e ongoing presence of COVID-19 and its potential impact on the Company’s business remains an evolving situation and is highly uncertain. While the Company’s operations during the first thirty-nine weeks of fiscal 2022 did not appear to be negatively impacted, the Company is continuing to experience labor pressures in its stores and distribution centers. The COVID-19 pandemic could further affect the Company’s operations and the operations of its suppliers and vendors as a result of continuing or renewed restrictions and limitations on travel, limitations on store or facility operations up to and including closures, and other governmental, business, or consumer actions. The extent to which the COVID-19 pandemic will impact the Company’s operations, liquidity or financial results in subsequent periods is un

Net Sales

Net Sales	9 Months Ended
	Oct. 29, 2022
Net Sales [Abstract]
Net Sales	(2) Net Sales Ollie’s recognizes retail sales in its stores when merchandise is sold and the customer takes possession of merchandise. Also included in net sales is revenue allocated to certain redeemed discounts earned via the Ollie’s Army loyalty program and gift card breakage. Net sales are presented net of returns and sales tax. The Company provides an allowance for estimated retail merchandise returns based on prior experience. Revenue Recognition Revenue is deferred for the Ollie’s Army loyalty program where members accumulate points that can be redeemed for discounts on future purchases. The Company has determined it has an additional performance obligation to Ollie’s Army members at the time of the initial transaction. The Company allocates the transaction price to the initial transaction and the discount awards based upon its relative standalone selling price, which considers historical redemption patterns for the award. Revenue is recognized as those discount awards are redeemed. Discount awards issued upon the achievement of specified point levels are subject to expiration. . At the end of each fiscal period, unredeemed discount awards and accumulated points to earn a future discount award are reflected as a liability. Discount awards are combined in one homogeneous pool and are not separately identifiable. Therefore, the revenue recognized consists of discount awards redeemed that were included in the deferred revenue balance at the beginning of the period as well as discount awards issued during the current period. The following table is a reconciliation of the liability related to this program: Thirty-nine weeks ended October 29, October 30, 2022 2021 (in thousands) Beginning balance $ 7,782 $ 8,113 Revenue deferred 10,775 11,577 Revenue recognized (10,786 ) (11,589 ) Ending balance $ 7,771 $ 8,101 Gift card breakage for gift card liabilities not subject to escheatment is recognized as revenue in proportion to the redemption of gift cards. Gift cards do not expire. The rate applied to redemptions is based upon a historical breakage rate. Gift cards are combined in one homogenous pool and are not separately identifiable. Therefore, the revenue recognized consists of gift cards that were included in the liability at the beginning of the period as well as gift cards that were issued during the period. The following table is a reconciliation of the gift card liability: Thirty-nine weeks ended October 29 October 30, 2022 2021 (in thousands) Beginning balance $ 2,291 $ 1,902 Gift card issuances 3,112 3,499 Gift card redemption and breakage (3,214 ) (3,488 ) Ending balance $ 2,189 $ 1,913

Earnings per Common Share

Earnings per Common Share	9 Months Ended
	Oct. 29, 2022
Earnings per Common Share [Abstract]
Earnings per Common Share	(3) 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 and the assumed lapse of restrictions on restricted stock units. The following table summarizes those effects for the diluted earnings per common share calculation: Thirteen weeks ended Thirty-nine weeks ended October 29, October 30 October 29, October 30 2022 2021 2022 2021 (in thousands, except per share amounts) Net income $ 23,082 $ 23,185 $ 49,702 $ 112,728 Weighted average number of common shares outstanding - Basic 62,507 63,915 62,603 64,909 Incremental shares from the assumed exercise of outstanding stock options and vesting of restricted stock units 244 383 207 505 Weighted average number of common shares outstanding - Diluted 62,751 64,298 62,810 65,414 Earnings per common share - Basic $ 0.37 $ 0.36 $ 0.79 $ 1.74 Earnings per common share - Diluted $ 0.37 $ 0.36 $ 0.79 $ 1.72 The effect of the weighted average assumed exercise of stock options outstanding totaling 791,256 and 408,514 for the thirteen weeks ended October 29, 2022 and October 30, 2021, respectively, and 879,134 and 379,657 for the thirty-nine weeks ended October 29, 2022 and October 30, 2021, respectively, were excluded from the calculation of diluted weighted average common shares outstanding because the effect would have been antidilutive . The .

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Oct. 29, 2022
Commitments and Contingencies [Abstract]
Commitments and Contingencies	(4) Commitments and Contingencies Commitments Effective February 3, 2019, the Company accounts for its leases under ASC 842, Leases (Topic 842). Under this guidance, arrangements meeting the definition of a lease are classified as operating or financing leases and are recorded on the balance sheet as both a right-of-use asset and lease liability, calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease, if available. The Company’s lessors do not provide an implicit rate, nor is one readily available, therefore the Company uses its incremental borrowing rate based on the portfolio approach, which applies one rate to leases within a given period. Lease liabilities are increased by interest and reduced by payments each period, and the right-of-use asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the right-of-use asset result in straight-line rent expense over the lease term. Variable lease expenses, if any, are recorded when incurred. In calculating the right-of-use asset and lease liability, the Company elects to combine lease and non-lease components. The Company excludes short-term leases having initial terms of 12 months or less from the guidance as an accounting policy election and recognizes rent expense on a straight-line basis over the lease term. The Company does not act as a lessor. Ollie’s generally leases its stores, offices, and distribution facilities under operating leases that expire at various dates through 2035 These leases generally provide for fixed annual rentals; however, several provide for minimum annual rentals plus contingent rentals based on a of annual sales. A majority of the Company’s leases also require a payment for all or a portion of common-area maintenance, insurance, real estate taxes, water and sewer costs, and repairs, on a fixed or variable payment basis, the cost of which, for leases existing as of the adoption of ASC 842 is charged to the related expense category rather than being accounted for as rent expense. For leases entered into after the adoption of ASC 842 the Company accounts for lease components together with non-lease components as a single component for all classes of underlying assets. Most of the leases contain options to renew for to successive periods. The Company is generally not reasonably certain to exercise renewal options; therefore, the options are not considered in determining the lease term, and associated potential option payments are excluded from the lease payments. Ollie’s lease agreements generally do not contain any material residual value guarantees or material restrictive covenants. Store and office lease costs are classified in selling, general, and administrative expenses and distribution center lease costs are classified in cost of sales on the condensed consolidated statements of income. The following table summarizes the maturity of the Company’s operating lease liabilities by fiscal year as of October 29, 2022: October 29, 2022 (in thousands) Remainder of 2022 $ 12,817 2023 106,766 2024 88,161 2025 71,303 2026 64,284 Thereafter 164,469 Total undiscounted lease payments (1) 507,800 Less: Imputed interest (52,983 ) Total lease obligations 454,817 Less: Current obligations under leases (81,589 ) Long-term lease obligations $ 373,228 (1) Lease obligations exclude of minimum lease payments for leases signed, but not commenced. The following table summarizes other information related to the Company’s operating leases as of and for the respective periods: Thirty-nine weeks ended October 29, October 30, 2022 2021 (dollars in thousands) Cash paid for operating leases $ 70,157 $ 63,532 Operating lease cost 70,656 64,177 Variable lease cost 7,649 5,532 Non-cash right-of-use assets obtained in exchange for lease obligations 48,083 50,780 Weighted-average remaining lease term 6.5 years 6.7 Weighted-average discount rate 3.4 % 3.6 % Contingencies From time to time the Company may be involved in claims and legal actions that arise in the ordinary course of its business. The Company cannot predict the outcome of any litigation or suit to which it is a party. However, the Company does not believe that an unfavorable decision of any of the current claims or legal actions against it, individually or in the aggregate, will have a material adverse effect on its financial position, results of operations, liquidity or capital resources.

Accrued Expenses and Other

Accrued Expenses and Other	9 Months Ended
	Oct. 29, 2022
Accrued Expenses and Other [Abstract]
Accrued Expenses and Other	(5) Accrued Expenses and Other Accrued expenses and other consists of the following: October 29, October 30, January 29, 2022 2021 2022 (in thousands) Compensation and benefits $ 16,047 $ 23,475 $ 19,270 Insurance 11,209 6,778 9,626 Deferred revenue 9,960 10,014 10,073 Sales and use taxes 9,860 7,700 5,968 Real estate 8,124 7,102 7,234 Advertising 7,247 5,715 8,531 Freight 3,585 1,468 2,073 Other 20,917 16,261 15,471 $ 86,949 $ 78,513 $ 78,246

Debt Obligations and Financing

Debt Obligations and Financing Arrangements	9 Months Ended
	Oct. 29, 2022
Debt Obligations and Financing Arrangements [Abstract]
Debt Obligations and Financing Arrangements	(6) Debt Obligations and Financing Arrangements Long-term debt consists of finance leases. The Company’s credit facility (the “Credit Facility”) provides for a five-year $100.0 million revolving credit facility, which includes a $45.0 million sub-facility for letters of credit and a $25.0 million sub-facility for swingline loans (the “Revolving Credit Facility”). Loans under the Revolving Credit Facility mature on May 22, 2024. In addition, the Company may at any time add term loan facilities or additional revolving commitments up to $150.0 million pursuant to terms and conditions set out in the Credit Facility. The interest rates for the Credit Facility are calculated as follows: for Base Rate Loans, 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 0.00% to 0.50% for a Base Rate Loan and 1.00% to 1.50% for a Eurodollar Loan, based on availability under the Credit Facility. The Eurodollar Rate is subject to a 0% floor. Under the terms of the Revolving Credit Facility, 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, 2022, the Company had no outstanding borrowings under the Revolving Credit Facility, with $92.7 million of borrowing availability, outstanding letters of credit commitments of $7.0 million and $0.2 million of rent reserves. The Revolving Credit Facility also contains a variable unused line fee ranging from 0.125% to 0.250% per annum. The Credit Facility is collateralized by the Company’s assets and equity and contains a financial covenant, as well as certain business covenants, including restrictions on dividend payments, which the Company must comply with during the term of the agreement. The financial covenant is a consolidated fixed charge coverage ratio test of at least 1.0 to 1.0 applicable during a covenant period, based on reference to availability. The Company was in compliance with all terms of the Credit Facility during the thirty-nine weeks ended October 29, 2022. The provisions of the Credit Facility restrict all of the net assets of the Company’s consolidated subsidiaries, which constitutes all of the net assets on the Company’s condensed consolidated balance sheet as of October 29, 2022, 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 Credit Facility, subject to material exceptions including proforma compliance with the applicable conditions described in the Credit Facility.

Income Taxes

Income Taxes	9 Months Ended
	Oct. 29, 2022
Income Taxes [Abstract]
Income Taxes	(7) Income Taxes The effective income tax rate for the thirteen weeks ended October 29, 2022 was a provision of 24.1%, or $7.3 million, compared to a provision of 23.1%, or $7.0 million, during the thirteen weeks ended October 30, 2021. The increase in the effective income tax rate for the thirteen weeks ended October 29, 2022 compared to October 30, 2021 was primarily driven by the impact of discrete items recognized, primarily stock-based compensation, in the thirteen weeks ended October 29, 2022. The Company’s effective income tax rate for the thirty-nine weeks ended October 29, 2022 was a provision of 22.5%, or $14.4 million, compared to a provision of 23.3%, or $34.3 million, for the thirty-nine weeks ended October 30, 2021. The decrease in the effective income tax rate for the thirty-nine weeks ended October 29, 2022 compared to October 30, 2021 was primarily driven by the impact of discrete items recognized in the thirty-nine weeks ended October 29, 2022 related to a decrease in the overall state tax rate of $1.1 million. T he Company is subject to tax in the United States. The Company files a consolidated U.S. income tax return for federal income tax purposes. The Company is no longer subject to income tax examinations by U.S. federal, or state and local tax authorities for tax years 2016 and prior. Management believes that an adequate provision has been made for any adjustments that may result from tax examinations. However, the outcome of tax audits cannot be predicted with certainty. If any issues arise as a result of a tax audit, and are resolved in a manner not consistent with management’s expectations, the Company could be required to adjust its provision for income taxes in the period such resolution occurs.

Equity Incentive Plans

Equity Incentive Plans	9 Months Ended
	Oct. 29, 2022
Equity Incentive Plans [Abstract]
Equity Incentive Plans	(8) Equity Incentive Plans During fiscal 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 at 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 Company’s initial public offering, no additional equity grants will be made under the 2012 Plan. In connection with its initial public offering, the Company adopted the 2015 equity incentive plan (the “2015 Plan”) pursuant to which the Company’s Board of Directors 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 will be made pursuant to agreements and may be subject to vesting and other restrictions as determined by the Board of Directors or the Compensation Committee of the Board. The Company uses authorized and unissued shares to satisfy share award exercises. As of October 29 Stock Options The exercise price for stock options is determined at the fair value of 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. A summary of the Company’s stock option activity and related information for the thirty-nine October 29 , 2022 Weighted Weighted average average remaining Number exercise contractual of options price term (years) Outstanding at January 29 2022 1,109,315 $ 55.30 Granted 328,938 43.97 Forfeited (105,388 ) 59.30 Exercised (114,696 ) 33.71 Outstanding at October 29 2022 1,218,169 53.93 7.4 Exercisable at October 29 2022 497,483 50.62 5.8 The weighted average grant date fair value per option for options granted during the thirty-nine October 29 October 30 , 202 Thirty-nine weeks ended October 29, October 30, 2022 2021 Risk-free interest rate 2.63 % 1.33 % Expected dividend yield - - Expected life (years) 6.25 years 6.25 years Expected volatility 44.40 % 38.38 % The expected life of stock options is estimated using the “simplified method,” as the Company does not have sufficient 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 expected volatility, the Company uses its historical information over the expected life of the option granted 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. Restricted Stock Units Restricted stock units (“RSUs”) are issued at the closing price of the Company’s common stock on the date of grant. RSUs outstanding vest ratably over four years or cliff vest in one A summary of the Company’s RSU activity and related information for the thirty-nine October 29 Weighted average Number grant date of shares fair value Non-vested balance at January 29 2022 125,483 $ 69.15 Granted 235,103 44.01 Forfeited (33,420 ) 52.03 Vested (44,856 ) 67.84 Non-vested balance at October 29 2022 282,310 50.45 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 $ million and $ million for the thirteen weeks ended October 29 October 30 million and $ million for the thirty-nine weeks ended October 29 October 30 As of October 29 , 2022

Common Stock

Common Stock	9 Months Ended
	Oct. 29, 2022
Common Stock [Abstract]
Common Stock	(9) Common Stock Common Stock The Company’s capital structure consists of a single class of common stock with one vote per share. The Company has authorized 500,000,000 shares at $0.001 par value per share. Additionally, the Company has authorized 50,000,000 shares of preferred stock at $0.001 per value per share; to date, however, no preferred shares have been issued. Treasury stock, which consists of the Company’s common stock, is accounted for using the cost method. Share Repurchase Program On December 15, 2020, the Board of Directors of the Company authorized the repurchase of up to $100.0 million of shares of the Company’s common stock. On March 16, 2021, the Board of Directors of the Company authorized an increase of $100.0 million in the Company’s share repurchase program. Both of these authorizations are authorized to be executed through January 2023. On November 30, 2021, the Board authorized an additional $200.0 million to repurchase stock pursuant to the Company’s share repurchase program, expiring on December 15, 2023. Shares under both authorizations may be purchased from time to time in open market transactions (including blocks), privately negotiated transactions, accelerated share repurchase programs or other derivative transactions, issuer self-tender offers, or any combination of the foregoing. The timing of repurchases and the actual amount purchased will depend on a variety of factors, including the market price of the Company’s shares, general market, economic and business conditions, and other corporate considerations. In addition, the authorizations are subject to extension or earlier termination by the Board of Directors at any time. During the thirty-nine October 29,

Transactions with Affiliated an

Transactions with Affiliated and Related Parties	9 Months Ended
	Oct. 29, 2022
Transactions with Affiliated and Related Parties [Abstract]
Transactions with Affiliated and Related Parties	(10) Transactions with Affiliated and Related Parties During the thirty-nine weeks ended October 29, 2022, the Company purchased excess inventory of $0.5 million from a subsidiary of Hillman Solutions, Inc. where John Swygert, President and Chief Executive Officer of Ollie’s, is a member of its Board of Directors. There were no purchases made from Hillman Solutions, Inc. or any of its subsidiaries in 2021.

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Oct. 29, 2022
Organization and Summary of Significant Accounting Policies [Abstract]
Fiscal Year	(b) Fiscal Year Ollie’s st .
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 . The Company’s balance sheet as of January 29, 2022, 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 March 25, 2022 (“Annual Report”), but does not include all disclosures required by GAAP. These financial statements should be read in conjunction with the financial statements for 2021 and footnotes thereto included in the Annual Report.
Segment Reporting	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 and its credit facilities. 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 Company’s credit facilities approximates its fair value because the interest rates are adjusted regularly based on current market conditions.

Net Sales (Policies)

Net Sales (Policies)	9 Months Ended
	Oct. 29, 2022
Net Sales [Abstract]
Net Sales	Ollie’s recognizes retail sales in its stores when merchandise is sold and the customer takes possession of merchandise. Also included in net sales is revenue allocated to certain redeemed discounts earned via the Ollie’s Army loyalty program and gift card breakage. Net sales are presented net of returns and sales tax. The Company provides an allowance for estimated retail merchandise returns based on prior experience.

Net Sales (Tables)

Net Sales (Tables)	9 Months Ended
	Oct. 29, 2022
Net Sales [Abstract]
Reconciliation of Liabilities for Ollie's Army Loyalty Program and Gift Cards	Revenue is deferred for the Ollie’s Army loyalty program where members accumulate points that can be redeemed for discounts on future purchases. The Company has determined it has an additional performance obligation to Ollie’s Army members at the time of the initial transaction. The Company allocates the transaction price to the initial transaction and the discount awards based upon its relative standalone selling price, which considers historical redemption patterns for the award. Revenue is recognized as those discount awards are redeemed. Discount awards issued upon the achievement of specified point levels are subject to expiration. . At the end of each fiscal period, unredeemed discount awards and accumulated points to earn a future discount award are reflected as a liability. Discount awards are combined in one homogeneous pool and are not separately identifiable. Therefore, the revenue recognized consists of discount awards redeemed that were included in the deferred revenue balance at the beginning of the period as well as discount awards issued during the current period. The following table is a reconciliation of the liability related to this program: Thirty-nine weeks ended October 29, October 30, 2022 2021 (in thousands) Beginning balance $ 7,782 $ 8,113 Revenue deferred 10,775 11,577 Revenue recognized (10,786 ) (11,589 ) Ending balance $ 7,771 $ 8,101 Gift card breakage for gift card liabilities not subject to escheatment is recognized as revenue in proportion to the redemption of gift cards. Gift cards do not expire. The rate applied to redemptions is based upon a historical breakage rate. Gift cards are combined in one homogenous pool and are not separately identifiable. Therefore, the revenue recognized consists of gift cards that were included in the liability at the beginning of the period as well as gift cards that were issued during the period. The following table is a reconciliation of the gift card liability: Thirty-nine weeks ended October 29 October 30, 2022 2021 (in thousands) Beginning balance $ 2,291 $ 1,902 Gift card issuances 3,112 3,499 Gift card redemption and breakage (3,214 ) (3,488 ) Ending balance $ 2,189 $ 1,913

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	9 Months Ended
	Oct. 29, 2022
Earnings per Common Share [Abstract]
Earnings per Common Share	The following table summarizes those effects for the diluted earnings per common share calculation: Thirteen weeks ended Thirty-nine weeks ended October 29, October 30 October 29, October 30 2022 2021 2022 2021 (in thousands, except per share amounts) Net income $ 23,082 $ 23,185 $ 49,702 $ 112,728 Weighted average number of common shares outstanding - Basic 62,507 63,915 62,603 64,909 Incremental shares from the assumed exercise of outstanding stock options and vesting of restricted stock units 244 383 207 505 Weighted average number of common shares outstanding - Diluted 62,751 64,298 62,810 65,414 Earnings per common share - Basic $ 0.37 $ 0.36 $ 0.79 $ 1.74 Earnings per common share - Diluted $ 0.37 $ 0.36 $ 0.79 $ 1.72

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Oct. 29, 2022
Commitments and Contingencies [Abstract]
Maturity of Operating Lease Liabilities	The following table summarizes the maturity of the Company’s operating lease liabilities by fiscal year as of October 29, 2022: October 29, 2022 (in thousands) Remainder of 2022 $ 12,817 2023 106,766 2024 88,161 2025 71,303 2026 64,284 Thereafter 164,469 Total undiscounted lease payments (1) 507,800 Less: Imputed interest (52,983 ) Total lease obligations 454,817 Less: Current obligations under leases (81,589 ) Long-term lease obligations $ 373,228 (1) Lease obligations exclude of minimum lease payments for leases signed, but not commenced.
Other Information Related to Operating Leases	The following table summarizes other information related to the Company’s operating leases as of and for the respective periods: Thirty-nine weeks ended October 29, October 30, 2022 2021 (dollars in thousands) Cash paid for operating leases $ 70,157 $ 63,532 Operating lease cost 70,656 64,177 Variable lease cost 7,649 5,532 Non-cash right-of-use assets obtained in exchange for lease obligations 48,083 50,780 Weighted-average remaining lease term 6.5 years 6.7 Weighted-average discount rate 3.4 % 3.6 %

Accrued Expenses and Other (Tab

Accrued Expenses and Other (Tables)	9 Months Ended
	Oct. 29, 2022
Accrued Expenses and Other [Abstract]
Accrued Expenses and Other	Accrued expenses and other consists of the following: October 29, October 30, January 29, 2022 2021 2022 (in thousands) Compensation and benefits $ 16,047 $ 23,475 $ 19,270 Insurance 11,209 6,778 9,626 Deferred revenue 9,960 10,014 10,073 Sales and use taxes 9,860 7,700 5,968 Real estate 8,124 7,102 7,234 Advertising 7,247 5,715 8,531 Freight 3,585 1,468 2,073 Other 20,917 16,261 15,471 $ 86,949 $ 78,513 $ 78,246

Equity Incentive Plans (Tables)

Equity Incentive Plans (Tables)	9 Months Ended
	Oct. 29, 2022
Equity Incentive Plans [Abstract]
Stock Option Activity	A summary of the Company’s stock option activity and related information for the thirty-nine October 29 , 2022 Weighted Weighted average average remaining Number exercise contractual of options price term (years) Outstanding at January 29 2022 1,109,315 $ 55.30 Granted 328,938 43.97 Forfeited (105,388 ) 59.30 Exercised (114,696 ) 33.71 Outstanding at October 29 2022 1,218,169 53.93 7.4 Exercisable at October 29 2022 497,483 50.62 5.8
Weighted Average Assumptions	The weighted average grant date fair value per option for options granted during the thirty-nine October 29 October 30 , 202 Thirty-nine weeks ended October 29, October 30, 2022 2021 Risk-free interest rate 2.63 % 1.33 % Expected dividend yield - - Expected life (years) 6.25 years 6.25 years Expected volatility 44.40 % 38.38 %
RSU Activity	A summary of the Company’s RSU activity and related information for the thirty-nine October 29 Weighted average Number grant date of shares fair value Non-vested balance at January 29 2022 125,483 $ 69.15 Granted 235,103 44.01 Forfeited (33,420 ) 52.03 Vested (44,856 ) 67.84 Non-vested balance at October 29 2022 282,310 50.45

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies (Details)	9 Months Ended
	Oct. 29, 2022 Segment Location State
Organization and Summary of Significant Accounting Policies [Abstract]
Number of retail locations | Location	463
Number of states in which retail locations are located | State	29
Number of operating segments | Segment	1

Net Sales (Details)

Net Sales (Details) - USD ($) $ in Thousands	9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021
Net Sales [Abstract]
Maximum redemption period for discount awards	45 days
Ollie's Army Loyalty Program Liability [Abstract]
Beginning balance	$ 7,782	$ 8,113
Revenue deferred	10,775	11,577
Revenue recognized	(10,786)	(11,589)
Ending balance	7,771	8,101
Gift Card Liability [Abstract]
Beginning balance	2,291	1,902
Gift card issuances	3,112	3,499
Gift card redemption and breakage	(3,214)	(3,488)
Ending balance	$ 2,189	$ 1,913

Earnings per Common Share (Deta

Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021
Earnings per Common Share [Abstract]
Net income	$ 23,082	$ 23,185	$ 49,702	$ 112,728
Weighted average number of common shares outstanding - Basic (in shares)	62,507,000	63,915,000	62,603,000	64,909,000
Incremental shares from the assumed exercise of outstanding stock options and vesting of restricted stock units (in shares)	244,000	383,000	207,000	505,000
Weighted average number of common shares outstanding - Diluted (in shares)	62,751,000	64,298,000	62,810,000	65,414,000
Earnings per common share - Basic (in dollars per share)	$ 0.37	$ 0.36	$ 0.79	$ 1.74
Earnings per common share - Diluted (in dollars per share)	$ 0.37	$ 0.36	$ 0.79	$ 1.72
Stock Options [Member]
Earnings per Common Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	791,256	408,514	879,134	379,657
Non-vested Restricted Stock Units [Member]
Earnings per Common Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	31,057	43,159	41,427	14,386

Commitments and Contingencies_2

Commitments and Contingencies (Details) $ in Thousands		9 Months Ended
		Oct. 29, 2022 USD ($) Option	Oct. 30, 2021 USD ($)	Jan. 29, 2022 USD ($)
Commitments [Abstract]
Renewal term of leases		5 years
Maturity of Operating Lease Liabilities [Abstract]
Remainder of 2022		$ 12,817
2023		106,766
2024		88,161
2025		71,303
2026		64,284
Thereafter		164,469
Total undiscounted lease payments	[1]	507,800
Less: Imputed interest		(52,983)
Total lease obligations		454,817
Less: Current obligations under leases		(81,589)	$ (73,837)	$ (75,535)
Long-term lease obligations		373,228	344,344	$ 354,293
Minimum lease payments for leases signed, but not commenced		36,200
Other Information Related to Operating Leases [Abstract]
Cash paid for operating leases		70,157	63,532
Operating lease cost		70,656	64,177
Variable lease cost		7,649	5,532
Non-cash right-of-use assets obtained in exchange for lease obligations		$ 48,083	$ 50,780
Weighted-average remaining lease term		6 years 6 months	6 years 8 months 12 days
Weighted-average discount rate		3.40%	3.60%
Minimum [Member]
Commitments [Abstract]
Number of options to renew operating leases | Option		3
Maximum [Member]
Commitments [Abstract]
Number of options to renew operating leases | Option		5
[1]Lease obligations exclude $36.2 million of minimum lease payments for leases signed, but not commenced.

Accrued Expenses and Other (Det

Accrued Expenses and Other (Details) - USD ($) $ in Thousands	Oct. 29, 2022	Jan. 29, 2022	Oct. 30, 2021
Accrued Expenses and Other [Abstract]
Compensation and benefits	$ 16,047	$ 19,270	$ 23,475
Insurance	11,209	9,626	6,778
Deferred revenue	9,960	10,073	10,014
Sales and use taxes	9,860	5,968	7,700
Real estate	8,124	7,234	7,102
Advertising	7,247	8,531	5,715
Freight	3,585	2,073	1,468
Other	20,917	15,471	16,261
Total accrued expenses and other	$ 86,949	$ 78,246	$ 78,513

Debt Obligations and Financin_2

Debt Obligations and Financing Arrangements (Details) $ in Millions	9 Months Ended
	Oct. 29, 2022 USD ($)
Credit Facility [Member]
Debt Obligations and Financing Arrangements [Abstract]
Maximum borrowing capacity	$ 150
Credit Facility [Member] | Minimum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Consolidated fixed charge coverage ratio	1
Credit Facility [Member] | Federal Funds Effective Rate [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	0.50%
Credit Facility [Member] | Eurodollar Rate [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	1%
Interest rate floor	0%
Credit Facility [Member] | Eurodollar Rate [Member] | Minimum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	1%
Credit Facility [Member] | Eurodollar Rate [Member] | Maximum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	1.50%
Credit Facility [Member] | Base Rate [Member] | Minimum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	0%
Credit Facility [Member] | Base Rate [Member] | Maximum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	0.50%
Revolving Credit Facility [Member]
Debt Obligations and Financing Arrangements [Abstract]
Term of facility	5 years
Maximum borrowing capacity	$ 100
Maturity date	May 22, 2024
Outstanding borrowings	$ 0
Borrowing availability	92.7
Outstanding letters of credit commitments	7
Rent reserves	$ 0.2
Revolving Credit Facility [Member] | Minimum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Variable unused line fee percentage	0.125%
Revolving Credit Facility [Member] | Maximum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Percentage of most recent appraised value of eligible inventory	90%
Variable unused line fee percentage	0.25%
Sub-Facility for Letters of Credit [Member]
Debt Obligations and Financing Arrangements [Abstract]
Maximum borrowing capacity	$ 45
Sub-Facility for Swingline Loans [Member]
Debt Obligations and Financing Arrangements [Abstract]
Maximum borrowing capacity	$ 25

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021
Income Taxes [Abstract]
Effective income tax rate	24.10%	23.10%	22.50%	23.30%
Income tax expense	$ 7,316	$ 6,958	$ 14,400	$ 34,301
Tax benefit related to decrease in overall state tax rate			$ (1,100)

Equity Incentive Plans, Equity

Equity Incentive Plans, Equity Incentive Plans (Details)	9 Months Ended
	Oct. 29, 2022 shares
2012 Plan [Member] | Stock Options [Member]
Equity Incentive Plans [Abstract]
Vesting period	5 years
Expiration period	10 years
2012 Plan [Member] | Stock Options [Member] | Year 1 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	20%
2012 Plan [Member] | Stock Options [Member] | Year 2 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	20%
2012 Plan [Member] | Stock Options [Member] | Year 3 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	20%
2012 Plan [Member] | Stock Options [Member] | Year 4 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	20%
2012 Plan [Member] | Stock Options [Member] | Year 5 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	20%
2015 Plan [Member]
Equity Incentive Plans [Abstract]
Number of shares authorized for issuance (in shares)	5,250,000
Number of shares available for grant (in shares)	2,219,681
2015 Plan [Member] | Stock Options [Member]
Equity Incentive Plans [Abstract]
Vesting period	4 years
Expiration period	10 years
2015 Plan [Member] | Stock Options [Member] | Year 1 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	25%
2015 Plan [Member] | Stock Options [Member] | Year 2 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	25%
2015 Plan [Member] | Stock Options [Member] | Year 3 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	25%
2015 Plan [Member] | Stock Options [Member] | Year 4 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	25%

Equity Incentive Plans, Stock O

Equity Incentive Plans, Stock Option Activity (Details) - Stock Options [Member] - $ / shares	9 Months Ended
	Oct. 29, 2022
Number of Options [Roll Forward]
Outstanding at beginning of period (in shares)	1,109,315
Granted (in shares)	328,938
Forfeited (in shares)	(105,388)
Exercised (in shares)	(114,696)
Outstanding at end of period (in shares)	1,218,169
Exercisable at end of period (in shares)	497,483
Weighted Average Exercise Price [Abstract]
Outstanding at beginning of period (in dollars per share)	$ 55.3
Granted (in dollars per share)	43.97
Forfeited (in dollars per share)	59.3
Exercised (in dollars per share)	33.71
Outstanding at end of period (in dollars per share)	53.93
Exercisable at end of period (in dollars per share)	$ 50.62
Weighted Average Remaining Contractual Term [Abstract]
Outstanding at end of period	7 years 4 months 24 days
Exercisable at end of period	5 years 9 months 18 days

Equity Incentive Plans, Weighte

Equity Incentive Plans, Weighted Average Assumptions (Details) - $ / shares	9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021
Equity Incentive Plans [Abstract]
Weighted average grant date fair value per option granted (in dollars per share)	$ 20.62	$ 33.8
Risk-free interest rate	2.63%	1.33%
Expected dividend yield	0%	0%
Expected life	6 years 3 months	6 years 3 months
Expected volatility	44.40%	38.38%

Equity Incentive Plans, RSU Act

Equity Incentive Plans, RSU Activity (Details) - Restricted Stock Units [Member]	9 Months Ended
	Oct. 29, 2022 $ / shares shares
Equity Incentive Plans [Abstract]
Vesting period	4 years
Number of Shares [Roll Forward]
Non-vested at beginning of period (in shares) | shares	125,483
Granted (in shares) | shares	235,103
Forfeited (in shares) | shares	(33,420)
Vested (in shares) | shares	(44,856)
Non-vested at end of period (in shares) | shares	282,310
Weighted Average Grant Date Fair Value [Abstract]
Non-vested at beginning of period (in dollars per share) | $ / shares	$ 69.15
Granted (in dollars per share) | $ / shares	44.01
Forfeited (in dollars per share) | $ / shares	52.03
Vested (in dollars per share) | $ / shares	67.84
Non-vested at end of period (in dollars per share) | $ / shares	$ 50.45
Minimum [Member]
Equity Incentive Plans [Abstract]
Cliff vesting period	1 year
Maximum [Member]
Equity Incentive Plans [Abstract]
Cliff vesting period	4 years

Equity Incentive Plans, Stock-B

Equity Incentive Plans, Stock-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021
Stock-Based Compensation Expense [Abstract]
Total unrecognized compensation cost related to non-vested stock-based compensation arrangements	$ 23.3		$ 23.3
Weighted average period to recognize stock-based compensation expense			2 years 9 months 18 days
Selling, General and Administrative Expenses [Member]
Stock-Based Compensation Expense [Abstract]
Compensation expense	$ 2.6	$ 1.6	$ 7.3	$ 6

Common Stock, Common Stock (Det

Common Stock, Common Stock (Details)	9 Months Ended
	Oct. 29, 2022 Vote / shares $ / shares shares	Jan. 29, 2022 $ / shares shares	Oct. 30, 2021 $ / shares shares
Common Stock [Abstract]
Common stock, number of votes per share | Vote / shares	1
Common stock, shares authorized (in shares)	500,000,000	500,000,000	500,000,000
Common stock, par value (in dollars per share) | $ / shares	$ 0.001	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000	50,000,000
Preferred stock, par value (in dollars per share) | $ / shares	$ 0.001	$ 0.001	$ 0.001
Preferred stock, shares issued (in shares)	0	0	0

Common Stock, Share Repurchase

Common Stock, Share Repurchase Program (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021	Oct. 29, 2022	Oct. 30, 2021	Nov. 30, 2021	Mar. 16, 2021	Dec. 15, 2020
Share Repurchase Program [Abstract]
Amount of shares repurchased	$ 20,004	$ 164,707	$ 29,955	$ 199,967
Share Repurchase Program [Member]
Share Repurchase Program [Abstract]
Authorized repurchase of common stock							$ 100,000
Increase in authorized repurchase of common stock					$ 200,000	$ 100,000
Number of shares repurchased (in shares)			602,805
Amount of shares repurchased			$ 30,000
Remaining authorized repurchase of common stock	$ 150,000		$ 150,000

Transactions with Affiliated _2

Transactions with Affiliated and Related Parties (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 29, 2022	Oct. 30, 2021
Purchase of Excess Inventory [Member] | Hillman Solutions, Inc. [Member]
Transactions with Related Parties [Abstract]
Payments to related parties	$ 0.5	$ 0