Ollie's Bargain Outlet (OLLI) 10-Q 2 Jun 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Apr. 30, 2016	Jun. 01, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Apr. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	OLLI
Entity Registrant Name	Ollie's Bargain Outlet Holdings, Inc.
Entity Central Index Key	1,639,300
Current Fiscal Year End Date	--01-28
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		60,002,125

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 30, 2016	Jan. 30, 2016	May. 02, 2015
Current assets:
Cash and cash equivalents	$ 37,129	$ 30,259	$ 4,053
Inventories	206,413	190,608	191,622
Accounts receivable	262	183	270
Deferred income taxes			4,211
Prepaid expenses and other assets	6,153	2,756	6,096
Total current assets	249,957	223,806	206,252
Property and equipment, net of accumulated depreciation of $30,680, $21,528 and $28,270, respectively	41,203	39,292	34,415
Goodwill	444,850	444,850	444,850
Trade name and other intangible assets, net of accumulated amortization of $1,354, $1,173 and $1,259, respectively	233,259	233,354	233,512
Other assets	2,497	2,520	1,173
Total assets	971,766	943,822	920,202
Current liabilities:
Current portion of long-term debt	5,018	5,018	7,794
Accounts payable	58,387	52,075	54,388
Income taxes payable	3,251	4,102	5,237
Accrued expenses	33,895	35,573	24,675
Total current liabilities	100,551	96,768	92,094
Revolving credit facility	0	0	0
Long-term debt	192,268	193,433	307,879
Deferred income taxes	86,603	87,171	92,700
Other long-term liabilities	4,498	4,501	3,003
Total liabilities	$ 383,920	$ 381,873	$ 495,676
Stockholders' equity:
Preferred stock - 50,000, 0 and 50,000 shares authorized, respectively, at $0.001 par value; no shares issued
Common stock, value	$ 60	$ 59
Additional paid-in capital	550,463	536,315	$ 394,165
Retained earnings	37,409	25,661	30,399
Treasury - common stock, at cost; 9 shares	(86)	(86)	(86)
Total stockholders' equity	587,846	561,949	424,526
Total liabilities and stockholders' equity	$ 971,766	$ 943,822	920,202
Common Stock Class A [Member]
Stockholders' equity:
Common stock, value			$ 48

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Apr. 30, 2016	Jan. 30, 2016	May. 02, 2015
Property and equipment, accumulated depreciation	$ 30,680	$ 28,270	$ 21,528
Trade name and other intangible assets, accumulated amortization	$ 1,354	$ 1,259	$ 1,173
Preferred stock, shares authorized	50,000,000	50,000,000	0
Preferred stock, par value	$ 0.001	$ 0.001	$ 0.001
Preferred stock, shares issued	0	0	0
Common stock, shares authorized	500,000,000	500,000,000	0
Common stock, par value	$ 0.001	$ 0.001	$ 0.001
Common stock, shares issued	60,011,000	58,807,000	0
Treasury stock, shares	9,000	9,000	9,000
Common Stock Class A [Member]
Common stock, shares authorized	0	0	85,000,000
Common stock, par value	$ 0.001	$ 0.001	$ 0.001
Common stock, shares issued	0	0	48,203,000
Common Stock Class B [Member]
Common stock, shares authorized	0	0	8,780,000
Common stock, par value	$ 0.001	$ 0.001	$ 0.001
Common stock, shares issued	0	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 30, 2016	May. 02, 2015
Income Statement [Abstract]
Net sales	$ 193,719	$ 162,470
Cost of sales	114,704	98,427
Gross profit	79,015	64,043
Selling, general and administrative expenses	54,809	45,871
Depreciation and amortization expenses	1,978	1,695
Pre-opening expenses	1,249	990
Operating income	20,979	15,487
Interest expense, net	1,664	4,574
Income before income taxes	19,315	10,913
Income tax expense	7,567	4,252
Net income	$ 11,748	$ 6,661
Earnings per common share:
Basic	$ 0.20	$ 0.14
Diluted	$ 0.19	$ 0.13
Weighted average common shares outstanding:
Basic	59,669	48,197
Diluted	61,867	49,545

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Common Stock Class A [Member]Common Stock [Member]
Beginning Balance at Jan. 31, 2015	$ 416,835		$ (29)	$ 393,078	$ 23,738	$ 48
Beginning Balance, shares at Jan. 31, 2015			(3,000)			48,203,000
Stock-based compensation expense	1,087			1,087
Purchase of treasury stock	(57)		$ (57)
Purchase of treasury stock, shares			(6,000)
Net income	6,661				6,661
Ending Balance at May. 02, 2015	424,526		$ (86)	394,165	30,399	$ 48
Ending Balance, shares at May. 02, 2015			(9,000)			48,203,000
Beginning Balance at Jan. 30, 2016	561,949	$ 59	$ (86)	536,315	25,661
Beginning Balance, shares at Jan. 30, 2016		58,807,000	(9,000)
Stock-based compensation expense	1,545			1,545
Proceeds from stock options exercised	$ 7,825	$ 1		7,824
Proceeds from stock options exercised, shares	1,203,835	1,204,000
Excess tax benefit related to exercises of stock options	$ 4,779			4,779
Net income	11,748				11,748
Ending Balance at Apr. 30, 2016	$ 587,846	$ 60	$ (86)	$ 550,463	$ 37,409
Ending Balance, shares at Apr. 30, 2016		60,011,000	(9,000)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2016	May. 02, 2015
Cash flows from operating activities:
Net income	$ 11,748	$ 6,661
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment	2,411	2,125
Amortization of debt issuance costs	187	376
Amortization of original issue discount	6	157
Amortization of intangibles	95	113
Deferred income tax benefit	(568)	(601)
Deferred rent expense	172	215
Stock-based compensation expense	1,545	1,087
Excess tax benefit related to exercises of stock options	(4,779)
Changes in operating assets and liabilities:
Inventories	(15,805)	(21,750)
Accounts receivable	(79)	48
Prepaid expenses and other assets	(3,478)	(4,156)
Accounts payable	6,811	3,779
Income taxes payable	3,928	535
Accrued expenses and other liabilities	(1,853)	(3,090)
Net cash provided by (used in) operating activities	341	(14,501)
Cash flows from investing activities:
Purchases of property and equipment	(4,821)	(2,503)
Net cash used in investing activities	(4,821)	(2,503)
Cash flows from financing activities:
Borrowings on revolving credit facility	202,000	169,334
Repayments on revolving credit facility	(202,000)	(169,334)
Repayments on term loan and capital leases	(1,254)	(838)
Proceeds from stock option exercises	7,825
Excess tax benefit related to exercises of stock options	4,779
Purchase of treasury stock		(57)
Net cash provided by (used in) financing activities	11,350	(895)
Net increase (decrease) in cash and cash equivalents	6,870	(17,899)
Cash and cash equivalents at the beginning of the period	30,259	21,952
Cash and cash equivalents at the end of the period	37,129	4,053
Supplemental disclosure of cash flow information:
Interest	1,469	4,019
Income taxes	4,247	4,318
Non-cash investing activities:
Accrued purchases of property and equipment	$ 902	$ 548

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	3 Months Ended
	Apr. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [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 208 Ollie’s Bargain Outlet retail locations as of April 30, 2016. Ollie’s Bargain Outlet retail locations are located in 18 states (Alabama, Connecticut, Delaware, Florida, Georgia, Indiana, Kentucky, Maryland, Michigan, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia) as of April 30, 2016. Stock Split On June 17, 2015, the Company effected a stock split of its common stock at a ratio of 115 shares for every share previously held. All common stock share and common stock per share amounts for all periods presented in these financial statements have been adjusted retroactively to reflect the stock split. 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. (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 April 30, 2016 and May 2, 2015 refer to the thirteen weeks from January 31, 2016 to April 30, 2016 and from February 1, 2015 to May 2, 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 April 30, 2016 and May 2, 2015, the condensed consolidated statements of income for the thirteen weeks ended April 30, 2016 and May 2, 2015, and the condensed consolidated statements of stockholders’ equity and cash flows for the thirteen weeks ended April 30, 2016 and May 2, 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 • 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, accounts receivable, accounts payable, revolving credit facility and term loan facility. The carrying amount of cash, 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. This standard amends existing guidance to require the presentation of debt issuance costs in the balance sheet as a deduction from the carrying amount of the related debt liability instead of a deferred charge. The new guidance is effective for annual reporting periods beginning after December 15, 2015, but early adoption is permitted. In August 2015, the FASB issued ASU 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements, which was issued to address the presentation and subsequent measurement of debt issuance costs related to line-of-credit arrangements. The Company has applied the guidance in ASU 2015-03 retroactively to the prior periods presented in the condensed consolidated balance sheets. As a result, the Company reclassified the May 2, 2015 and January 30, 2016 condensed consolidated balance sheets resulting in a reduction of other assets and long-term debt of $4.9 million and $1.5 million, respectively. Deferred Taxes In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes. This update requires an entity to classify deferred tax liabilities and assets as noncurrent within a classified balance sheet. ASU 2015-17 is effective for annual reporting periods, and interim periods therein, beginning after December 15, 2016. This update may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. Early application is permitted as of the beginning of the interim or annual reporting period. The Company elected to prospectively adopt the accounting standard as of January 30, 2016. Prior periods were not retroactively adjusted. Leases In February 2016, the FASB issued ASU 2016-02, Leases. ASU 2016-02 requires that lease arrangements longer than 12 months result in an entity recognizing an asset and liability. The updated guidance is effective for interim and annual periods beginning after December 15, 2018, and early adoption is permitted. The Company has not evaluated the impact of the standard on its consolidated financial statements and related disclosures. Stock Compensation In March 2016, the FASB issued ASU 2016-09, Stock Compensation, which is intended to simplify several aspects of the accounting for share-based payment award transactions. The guidance will be effective for the fiscal year beginning after December 15, 2016, including interim periods within that year. The Company is currently evaluating the effect of the standard on its consolidated financial statements and related disclosures.

Earnings per Common Share

Earnings per Common Share	3 Months Ended
	Apr. 30, 2016
Earnings Per 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 April 30, May 2, Net income $ 11,748 $ 6,661 Weighted average number of common shares outstanding – Basic 59,669 48,197 Dilutive impact of stock options and restricted stock units 2,198 1,349 Weighted average number of common shares outstanding - Diluted 61,867 49,546 Earnings per common share – Basic $ 0.20 $ 0.14 Earnings per common share - Diluted $ 0.19 $ 0.13 Weighted average stock option shares totaling 312,952 and 520,490 for the thirteen weeks ended April 30, 2016 and May 2, 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	3 Months Ended
	Apr. 30, 2016
Payables and Accruals [Abstract]
Accrued Expenses	(3) Accrued Expenses Accrued expenses consists of the following (in thousands): April 30, May 2, January 30, 2016 2015 2016 Accrued compensation and benefits $ 7,138 $ 5,617 $ 10,775 Sales and use taxes 2,777 2,047 2,278 Accrued real estate related 2,510 1,674 2,659 Accrued insurance 3,034 2,365 2,605 Accrued advertising 2,240 2,780 3,519 Accrued freight 5,041 4,154 3,620 Other 11,155 6,038 10,117 $ 33,895 $ 24,675 $ 35,573

Debt Obligations and Financing

Debt Obligations and Financing Arrangements	3 Months Ended
	Apr. 30, 2016
Debt Disclosure [Abstract]
Debt Obligations and Financing Arrangements	(4) Debt Obligations and Financing Arrangements Long-term debt consists of the following (in thousands): April 30, May 2, January 30, 2016 2015 2016 Term loan $ 197,224 $ 315,673 $ 198,385 Capital leases 62 — 66 Total debt 197,286 315,673 198,451 Less: current portion (5,018 ) (7,794 ) (5,018 ) Long-term debt $ 192,268 $ 307,879 $ 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 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 April 30, 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 April 30, 2016, Ollie’s had $198.8 million of outstanding borrowings under the New Term Loan and no outstanding borrowings under the New Revolving Credit Facility, with $98.4 million of borrowing availability, letter of credit commitments of $1.4 million and $0.2 million of rent reserves. The interest rate on the outstanding borrowings under the New Term Loan was 2.25% plus the 30-day Eurodollar Rate, or 2.68%. The New Revolving Credit Facility also contains a variable unused line fee ranging from 0.250% to 0.375% per annum. As of April 30, 2016, May 2, 2015, and January 30, 2016 the amounts outstanding under the term loan, are net of unamortized original issue discount of $0.1 million, $2.6 million and $0.1 million, respectively and deferred financing fees of $1.4 million, $4.9 million and $1.5 million, respectively. 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 as of the thirteen weeks ended April 30, 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 April 30, 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	3 Months Ended
	Apr. 30, 2016
Income Tax Disclosure [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 weeks ended April 30, 2016 and May 2, 2015 were 39.2% and 39.0%, respectively.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Apr. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	(6) Commitments and Contingencies The Company commenced nine new store leases during the thirteen weeks ended April 30, 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 $10.8 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	3 Months Ended
	Apr. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [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 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 of Directors or the Company’s Compensation Committee of the Board of Directors. 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 April 30, 2016, there were 4,103,995 shares available for grant under the 2015 Plan. 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 the secondary offering. The Company did not sell any shares in or receive any proceeds from the 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 thirteen weeks ended April 30, 2016. A summary of the Company’s stock option activity and related information for the thirteen weeks ended April 30, 2016, is as follows: Number of options Weighted Weighted Outstanding at January 30, 2016 6,991,825 $ 8.04 Granted 507,453 20.26 Forfeited (79,800 ) 7.53 Exercised (1,203,835 ) 6.50 Outstanding at April 30, 2016 6,215,643 9.34 7.5 Exercisable at April 30, 2016 2,491,046 6.86 6.7 Determining the appropriate fair value of stock-based awards requires the input of subjective assumptions, including the fair value of the Company’s common stock and for stock options, the expected life of the option and expected stock price volatility. 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 thirteen weeks ended April 30, 2016 and May 2, 2015 was $6.44 and $4.56, 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: Thirteen weeks ended April 30, May 2, Risk-free interest rate 1.72 % 1.94 % Expected dividend yield — — Expected term (years) 6.25 years 6.5 years Expected volatility 28.52 % 32.30 % Restricted Stock Units (“RSUs”) During the thirteen weeks ended April 30, 2016, the Company granted 134,502 RSUs related to its common stock to various employees and certain members of its Board of Directors under the 2015 Plan. Of those RSUs, 88,771 were granted to certain employees vest in four equal annual installments beginning on the first anniversary of the grant date, provided the respective award recipient continues to be employed by the Company through each of those dates. Another 34,625 RSUs granted to certain employees vest in full upon the four-year anniversary of the date of grant, provided the respective award recipient continues to be employed by the Company through that date. Finally, the 11,106 RSUs granted certain members of the Board of Directors vest in three equal annual installments beginning one year following the date of grant, provided that the board member continues to serve of the Board of Directors through each of those dates. The grant date fair value of these awards totaled $2.7 million. The Company recognizes the expense relating to these awards on a straight-line basis over the service period of each award, commencing on the date of grant. A summary of the Company’s RSU activity and related information for the thirteen weeks ended April 30, 2016, is as follows: Number Weighted Nonvested balance at January 30, 2016 — $ — Granted 134,502 20.26 Nonvested balance at April 30, 2016 134,502 20.26 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 $1.5 million and $1.1 million for the thirteen weeks ended April 30, 2016 and May 2, 2015, respectively. As of April 30, 2016, there was $17.5 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 3.3 years as of April 30, 2016. Compensation costs related to awards are recognized using the straight-line method.

Transactions with Related Parti

Transactions with Related Parties	3 Months Ended
	Apr. 30, 2016
Related Party Transactions [Abstract]
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 $0.3 million in rent payments to such related parties during the thirteen weeks ended April 30, 2016 and during the thirteen weeks ended May 2, 2015. During the thirteen weeks ended April 30, 2016 and May 2, 2015, the Company paid approximately $20,000 for the use of an airplane owned by a related party.

Organization and Summary of S15

Organization and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Apr. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	(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 208 Ollie’s Bargain Outlet retail locations as of April 30, 2016. Ollie’s Bargain Outlet retail locations are located in 18 states (Alabama, Connecticut, Delaware, Florida, Georgia, Indiana, Kentucky, Maryland, Michigan, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia) as of April 30, 2016. Stock Split On June 17, 2015, the Company effected a stock split of its common stock at a ratio of 115 shares for every share previously held. All common stock share and common stock per share amounts for all periods presented in these financial statements have been adjusted retroactively to reflect the stock split. 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.
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 April 30, 2016 and May 2, 2015 refer to the thirteen weeks from January 31, 2016 to April 30, 2016 and from February 1, 2015 to May 2, 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 April 30, 2016 and May 2, 2015, the condensed consolidated statements of income for the thirteen weeks ended April 30, 2016 and May 2, 2015, and the condensed consolidated statements of stockholders’ equity and cash flows for the thirteen weeks ended April 30, 2016 and May 2, 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 • 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, accounts receivable, accounts payable, revolving credit facility and term loan facility. The carrying amount of cash, 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. This standard amends existing guidance to require the presentation of debt issuance costs in the balance sheet as a deduction from the carrying amount of the related debt liability instead of a deferred charge. The new guidance is effective for annual reporting periods beginning after December 15, 2015, but early adoption is permitted. In August 2015, the FASB issued ASU 2015-15, Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements, which was issued to address the presentation and subsequent measurement of debt issuance costs related to line-of-credit arrangements. The Company has applied the guidance in ASU 2015-03 retroactively to the prior periods presented in the condensed consolidated balance sheets. As a result, the Company reclassified the May 2, 2015 and January 30, 2016 condensed consolidated balance sheets resulting in a reduction of other assets and long-term debt of $4.9 million and $1.5 million, respectively. Deferred Taxes In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes. This update requires an entity to classify deferred tax liabilities and assets as noncurrent within a classified balance sheet. ASU 2015-17 is effective for annual reporting periods, and interim periods therein, beginning after December 15, 2016. This update may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. Early application is permitted as of the beginning of the interim or annual reporting period. The Company elected to prospectively adopt the accounting standard as of January 30, 2016. Prior periods were not retroactively adjusted. Leases In February 2016, the FASB issued ASU 2016-02, Leases. ASU 2016-02 requires that lease arrangements longer than 12 months result in an entity recognizing an asset and liability. The updated guidance is effective for interim and annual periods beginning after December 15, 2018, and early adoption is permitted. The Company has not evaluated the impact of the standard on its consolidated financial statements and related disclosures. Stock Compensation In March 2016, the FASB issued ASU 2016-09, Stock Compensation, which is intended to simplify several aspects of the accounting for share-based payment award transactions. The guidance will be effective for the fiscal year beginning after December 15, 2016, including interim periods within that year. The Company is currently evaluating the effect of the standard on its consolidated financial statements and related disclosures.

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	3 Months Ended
	Apr. 30, 2016
Earnings Per Share [Abstract]
Summary of Effects for 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 April 30, May 2, Net income $ 11,748 $ 6,661 Weighted average number of common shares outstanding – Basic 59,669 48,197 Dilutive impact of stock options and restricted stock units 2,198 1,349 Weighted average number of common shares outstanding - Diluted 61,867 49,546 Earnings per common share – Basic $ 0.20 $ 0.14 Earnings per common share - Diluted $ 0.19 $ 0.13

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Apr. 30, 2016
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses consists of the following (in thousands): April 30, May 2, January 30, 2016 2015 2016 Accrued compensation and benefits $ 7,138 $ 5,617 $ 10,775 Sales and use taxes 2,777 2,047 2,278 Accrued real estate related 2,510 1,674 2,659 Accrued insurance 3,034 2,365 2,605 Accrued advertising 2,240 2,780 3,519 Accrued freight 5,041 4,154 3,620 Other 11,155 6,038 10,117 $ 33,895 $ 24,675 $ 35,573

Debt Obligations and Financin18

Debt Obligations and Financing Arrangements (Tables)	3 Months Ended
	Apr. 30, 2016
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt consists of the following (in thousands): April 30, May 2, January 30, 2016 2015 2016 Term loan $ 197,224 $ 315,673 $ 198,385 Capital leases 62 — 66 Total debt 197,286 315,673 198,451 Less: current portion (5,018 ) (7,794 ) (5,018 ) Long-term debt $ 192,268 $ 307,879 $ 193,433

Equity Incentive Plans (Tables)

Equity Incentive Plans (Tables)	3 Months Ended
	Apr. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Stock Option Activity and Related Information	A summary of the Company’s stock option activity and related information for the thirteen weeks ended April 30, 2016, is as follows: Number of options Weighted Weighted Outstanding at January 30, 2016 6,991,825 $ 8.04 Granted 507,453 20.26 Forfeited (79,800 ) 7.53 Exercised (1,203,835 ) 6.50 Outstanding at April 30, 2016 6,215,643 9.34 7.5 Exercisable at April 30, 2016 2,491,046 6.86 6.7
Summary of 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: Thirteen weeks ended April 30, May 2, Risk-free interest rate 1.72 % 1.94 % Expected dividend yield — — Expected term (years) 6.25 years 6.5 years Expected volatility 28.52 % 32.30 %
Summary of RSU Activity	A summary of the Company’s RSU activity and related information for the thirteen weeks ended April 30, 2016, is as follows: Number Weighted Nonvested balance at January 30, 2016 — $ — Granted 134,502 20.26 Nonvested balance at April 30, 2016 134,502 20.26

Organization and Summary of S20

Organization and Summary of Significant Accounting Policies - Additional Information (Detail) $ / shares in Units, $ in Millions	Feb. 19, 2016shares	Feb. 18, 2016$ / sharesshares	Jul. 17, 2015$ / sharesshares	Jul. 15, 2015USD ($)shares	Jun. 17, 2015shares	Apr. 30, 2016USD ($)StatesLocationSegment
Organization And Summary Of Significant Accounting Policies [Line Items]
Number of retail locations | Location						208
Retail locations located states | States						18
Common stock, Stock split					115
Shares issued during period, Shares		7,873,063
Number of operating segments | Segment						1
Restatement Adjustment [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Reduction in value of other assets due to adoption of ASU | $						$ 4.9
Reduction in value of long-term debt due to adoption of ASU | $						$ 1.5
Common Stock [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Shares issued during period, Shares	9,054,022		10,263,750
Shares issued price per share | $ / shares		$ 19.75	$ 16
IPO [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Shares issued during period, Shares				8,925,000
Net proceeds after deducting underwriting fees | $				$ 153.1
Underwriting fees | $				$ 11.1
Over-Allotment Option [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Shares issued during period, Shares	1,180,959		1,338,750

Earnings per Common Share - Sum

Earnings per Common Share - Summary of Effects for Diluted Net Income per Common Share Calculation (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 30, 2016	May. 02, 2015
Earnings Per Share [Abstract]
Net income	$ 11,748	$ 6,661
Weighted average number of common shares outstanding - Basic	59,669	48,197
Dilutive impact of stock options and restricted stock units	2,198	1,349
Weighted average number of common shares outstanding - Diluted	61,867	49,545
Earnings per common share - Basic	$ 0.20	$ 0.14
Earnings per common share - Diluted	$ 0.19	$ 0.13

Earnings per Common Share - Add

Earnings per Common Share - Additional Information (Detail) - shares	3 Months Ended
	Apr. 30, 2016	May. 02, 2015
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share	312,952	520,490

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands	Apr. 30, 2016	Jan. 30, 2016	May. 02, 2015
Payables and Accruals [Abstract]
Accrued compensation and benefits	$ 7,138	$ 10,775	$ 5,617
Sales and use taxes	2,777	2,278	2,047
Accrued real estate related	2,510	2,659	1,674
Accrued insurance	3,034	2,605	2,365
Accrued advertising	2,240	3,519	2,780
Accrued freight	5,041	3,620	4,154
Other	11,155	10,117	6,038
Total accrued expenses	$ 33,895	$ 35,573	$ 24,675

Debt Obligations and Financin24

Debt Obligations and Financing Arrangements - Schedule of Long-term Debt (Detail) - USD ($) $ in Thousands	Apr. 30, 2016	Jan. 30, 2016	May. 02, 2015
Debt Disclosure [Abstract]
Term loan	$ 197,224	$ 198,385	$ 315,673
Capital leases	62	66
Total debt	197,286	198,451	315,673
Less: current portion	(5,018)	(5,018)	(7,794)
Long-term debt	192,268	193,433	307,879
Total debt	$ 197,286	$ 198,451	$ 315,673

Debt Obligations and Financin25

Debt Obligations and Financing Arrangements - Additional Information (Detail) - USD ($)	Apr. 30, 2016	Jan. 30, 2016	Jan. 29, 2016	Apr. 30, 2016	May. 02, 2015
Term Loan [Member]
Line of Credit Facility [Line Items]
Unamortized original issue discount of debt	$ 100,000	$ 100,000		$ 100,000	$ 2,600,000
Deferred debt financing fees recognized	$ 1,400,000	1,500,000		$ 1,400,000	$ 4,900,000
New Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Credit Facility			$ 100,000,000
Credit Facility maximum borrowing capacity, percentage	90.00%			90.00%
Credit Facility maximum borrowing capacity	$ 100,000,000			$ 100,000,000
Borrowings available under credit facility	98,400,000			98,400,000
Letter of credit commitments	1,400,000			1,400,000
Rent reserves	$ 200,000			200,000
New Revolving Credit Facility [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Credit Facility, variable unused line fee	0.25%
New Revolving Credit Facility [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Credit Facility, variable unused line fee	0.375%
New Revolving Credit Facility [Member] | Letters of Credit [Member]
Line of Credit Facility [Line Items]
Credit Facility current borrowing capacity			25,000,000
New Revolving Credit Facility [Member] | Swingline Loans Facility [Member]
Line of Credit Facility [Line Items]
Credit Facility current borrowing capacity			25,000,000
New Term Loan [Member]
Line of Credit Facility [Line Items]
Credit Facility	$ 198,800,000		$ 200,000,000	$ 198,800,000
Debt instrument, quarterly payment, principal		1,250,000
Debt instrument, quarterly payment, commencing date				Apr. 29, 2016
Debt instrument, increase in principal quarterly payment		$ 2,500,000
Interest rate on outstanding borrowings	268.00%
New Term Loan [Member] | 30-Day Eurodollar Rate [Member]
Line of Credit Facility [Line Items]
Credit Facility interest rate	2.25%
Senior Secured Credit Facility [Member]
Line of Credit Facility [Line Items]
Interest rate for the New Credit Facilities				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.
Senior Secured Credit Facility [Member] | Federal Funds Effective [Member]
Line of Credit Facility [Line Items]
Credit Facility interest rate			0.50%
Senior Secured Credit Facility [Member] | Eurodollar [Member]
Line of Credit Facility [Line Items]
Credit Facility interest rate			1.00%
Senior Secured Credit Facility [Member] | Eurodollar [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Applicable margin			1.75%
Senior Secured Credit Facility [Member] | Eurodollar [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Applicable margin			2.25%
Senior Secured Credit Facility [Member] | Base Rate [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Applicable margin			0.75%
Senior Secured Credit Facility [Member] | Base Rate [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Applicable margin			1.25%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended
	Apr. 30, 2016	May. 02, 2015
Income Tax Disclosure [Abstract]
Effective tax rates	39.20%	39.00%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	3 Months Ended
	Apr. 30, 2016USD ($)Lease
Operating Leased Assets [Line Items]
Number of new store leases | Lease	9
Lease description	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 $10.8 million.
Renew period of fully executed leases	5 years
Future minimum lease payments, total | $	$ 10.8
Minimum [Member]
Operating Leased Assets [Line Items]
Initial terms of fully executed leases	5 years
Maximum [Member]
Operating Leased Assets [Line Items]
Initial terms of fully executed leases	7 years

Equity Incentive Plans - Additi

Equity Incentive Plans - Additional Information (Detail)	Feb. 19, 2016shares	Feb. 18, 2016USD ($)$ / sharesshares	Jul. 17, 2015$ / sharesshares	Apr. 30, 2016USD ($)Installments$ / sharesshares	May. 02, 2015USD ($)$ / shares	Jul. 15, 2015shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued during period, Shares		7,873,063
Stock options exercised, shares				1,203,835
Proceeds from exercise of stock options | $		$ 7,500,000		$ 7,825,000
Weighted average grant date fair value per option for options granted | $ / shares				$ 6.44	$ 4.56
Total unrecognized compensation cost related to non-vested stock-based compensation arrangements granted | $				$ 17,500,000
Cost expected to be recognized over weighted average period				3 years 3 months 18 days
Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued during period, Shares	9,054,022		10,263,750
Shares issued price per share | $ / shares		$ 19.75	$ 16
Proceeds from secondary offering | $		$ 0
Stock options exercised, shares		1,152,500		1,204,000
Over-Allotment Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued during period, Shares	1,180,959		1,338,750
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common stock granted				134,502
Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Legal, accounting and other fees in connection with secondary offering | $				$ 600,000
Compensation cost | $				$ 1,500,000	$ 1,100,000
2012 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for options				5 years
Options granted, expiration period				10 years
Common stock available for grant						0
2012 Plan [Member] | Annual Vesting [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage of options				20.00%
2015 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for options				4 years
Options granted, expiration period				10 years
Common stock available for grant				4,103,995
2015 Plan [Member] | Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common stock granted				134,502
Total grant date fair value award | $				$ 2,700,000
2015 Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for issuance under equity incentive plan				5,250,000
2015 Plan [Member] | Annual Vesting [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage of options				25.00%
2015 Plan [Member] | Share-based Compensation Award, Tranche One [Member] | Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common stock granted				88,771
Number of equal annual installments | Installments				4
2015 Plan [Member] | Share-based Compensation Award, Tranche Two [Member] | Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common stock granted				34,625
2015 Plan [Member] | Share-based Compensation Award, Tranche Three [Member] | Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common stock granted				11,106
Number of equal annual installments | Installments				3

Equity Incentive Plans - Summar

Equity Incentive Plans - Summary of Stock Option Activity and Related Information (Detail)	3 Months Ended
	Apr. 30, 2016$ / sharesshares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Number of options, Outstanding, Beginning Balance | shares	6,991,825
Number of options, Granted | shares	507,453
Number of options, Forfeited | shares	(79,800)
Number of options, Exercised | shares	(1,203,835)
Number of options, Outstanding, Ending Balance | shares	6,215,643
Number of options, Exercisable | shares	2,491,046
Weighted average exercise price, Outstanding, Beginning Balance | $ / shares	$ 8.04
Weighted average exercise price, Granted | $ / shares	20.26
Weighted average exercise price, Forfeited | $ / shares	7.53
Weighted average exercise price, Exercised | $ / shares	6.50
Weighted average exercise price, Outstanding, Ending Balance | $ / shares	9.34
Weighted average exercise price, Exercisable | $ / shares	$ 6.86
Weighted average remaining contractual term (years), Outstanding	7 years 6 months
Weighted average remaining contractual term (years), Exercisable	6 years 8 months 12 days

Equity Incentive Plans - Summ30

Equity Incentive Plans - Summary of Weighted Average Assumptions (Detail)	3 Months Ended
	Apr. 30, 2016	May. 02, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Risk-free interest rate	1.72%	1.94%
Expected dividend yield	0.00%	0.00%
Expected term (years)	6 years 3 months	6 years 6 months
Expected volatility	28.52%	32.30%

Equity Incentive Plans - Summ31

Equity Incentive Plans - Summary of RSU Activity (Detail) - Restricted Stock Units [Member]	3 Months Ended
	Apr. 30, 2016$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, Granted | shares	134,502
Number of shares, Nonvested, Ending Balance | shares	134,502
Weighted average grant date fair value, Granted | $ / shares	$ 20.26
Weighted average grant date fair value, Nonvested, Ending Balance | $ / shares	$ 20.26

Transactions with Related Par32

Transactions with Related Parties - Additional Information (Detail)	3 Months Ended
	Apr. 30, 2016USD ($)Lease	May. 02, 2015USD ($)
Operating Leases from Related Party [Member]
Related Party Transaction [Line Items]
Number of non-cancelable operating leases with related parties | Lease	5
Rent payments to related parties	$ 300,000	$ 300,000
Use of Airplane [Member]
Related Party Transaction [Line Items]
Payment to related party	$ 20,000	$ 20,000