Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Nov. 03, 2018 | Dec. 13, 2018 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Nov. 3, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | JILL | |
Entity Registrant Name | J.Jill, Inc. | |
Entity Central Index Key | 1,687,932 | |
Current Fiscal Year End Date | --02-02 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Common Stock, Shares Outstanding | 43,747,757 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Nov. 03, 2018 | Feb. 03, 2018 |
Current assets: | ||
Cash | $ 59,890 | $ 25,978 |
Accounts receivable | 7,509 | 4,733 |
Inventories, net | 78,844 | 80,591 |
Prepaid expenses and other current assets | 25,053 | 21,166 |
Total current assets | 171,296 | 132,468 |
Property and equipment, net | 113,932 | 118,420 |
Intangible assets, net | 139,373 | 148,961 |
Goodwill | 197,026 | 197,026 |
Other assets | 501 | 682 |
Total assets | 622,128 | 597,557 |
Current liabilities: | ||
Accounts payable | 51,648 | 53,962 |
Accrued expenses and other current liabilities | 47,099 | 48,759 |
Current portion of long-term debt | 2,799 | 2,799 |
Total current liabilities | 101,546 | 105,520 |
Long-term debt, net of discount and current portion | 237,813 | 238,881 |
Deferred income taxes | 42,348 | 46,263 |
Other liabilities | 30,008 | 27,577 |
Total liabilities | 411,715 | 418,241 |
Commitments and contingencies (see Note 9) | ||
Shareholders’ Equity | ||
Common stock, par value $0.01 per share; 250,000,000 shares authorized; 43,747,757 and 43,752,790 shares issued and outstanding at November 3, 2018 and February 3, 2018, respectively | 437 | 437 |
Additional paid-in capital | 120,347 | 117,393 |
Accumulated earnings | 89,629 | 61,486 |
Total shareholders’ equity | 210,413 | 179,316 |
Total liabilities and shareholders’ equity | $ 622,128 | $ 597,557 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Nov. 03, 2018 | Feb. 03, 2018 |
Statement Of Financial Position [Abstract] | ||
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 250,000,000 | 250,000,000 |
Common stock, shares issued | 43,747,757 | 43,752,790 |
Common stock, shares outstanding | 43,747,757 | 43,752,790 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Nov. 03, 2018 | Oct. 28, 2017 | Nov. 03, 2018 | Oct. 28, 2017 | |
Income Statement [Abstract] | ||||
Net sales | $ 174,106 | $ 161,975 | $ 535,360 | $ 509,473 |
Costs of goods sold | 58,643 | 53,479 | 182,901 | 162,721 |
Gross profit | 115,463 | 108,496 | 352,459 | 346,752 |
Selling, general and administrative expenses | 101,589 | 95,240 | 299,248 | 289,284 |
Operating income | 13,874 | 13,256 | 53,211 | 57,468 |
Interest expense, net | 4,698 | 4,496 | 14,368 | 14,525 |
Income before provision for income taxes | 9,176 | 8,760 | 38,843 | 42,943 |
Provision for income taxes | 2,488 | 2,766 | 10,412 | 16,926 |
Net income and total comprehensive income | $ 6,688 | $ 5,994 | $ 28,431 | $ 26,017 |
Net income per common share attributable to common shareholders: | ||||
Basic | $ 0.16 | $ 0.14 | $ 0.67 | $ 0.62 |
Diluted | $ 0.15 | $ 0.14 | $ 0.64 | $ 0.60 |
Weighted average number of common shares outstanding: | ||||
Basic | 42,953,173 | 41,731,765 | 42,674,957 | 41,933,244 |
Diluted | 44,475,793 | 43,554,000 | 44,199,800 | 43,468,846 |
Consolidated Statement of Share
Consolidated Statement of Shareholders' / Members' Equity - USD ($) $ in Thousands | Total | Common Units [Member] | Common Stock [Member] | Contributed Capital [Member] | Additional Paid-in Capital [Member] | Accumulated Earnings [Member] | |
Beginning balance at Jan. 28, 2017 | $ 122,864 | $ 116,743 | $ 6,121 | ||||
Beginning balance, units at Jan. 28, 2017 | 1,000,000 | ||||||
Other equity transactions | 305 | 305 | |||||
Corporate Conversion | (117,048) | $ 117,048 | |||||
Corporate Conversion, units | (1,000,000) | ||||||
Issuance of Common Stock | $ 437 | (437) | |||||
Issuance of Common Stock, shares | 43,747,944 | ||||||
Equity-based compensation | 24 | 24 | |||||
Net income | 8,027 | 8,027 | |||||
Ending Balance at Apr. 29, 2017 | 131,220 | $ 437 | 116,635 | 14,148 | |||
Ending balance, shares at Apr. 29, 2017 | 43,747,944 | ||||||
Beginning balance at Jan. 28, 2017 | 122,864 | $ 116,743 | 6,121 | ||||
Beginning balance, units at Jan. 28, 2017 | 1,000,000 | ||||||
Net income | 26,017 | ||||||
Ending Balance at Oct. 28, 2017 | 149,725 | $ 437 | 117,150 | 32,138 | |||
Ending balance, shares at Oct. 28, 2017 | 43,747,944 | ||||||
Beginning balance at Apr. 29, 2017 | 131,220 | $ 437 | 116,635 | 14,148 | |||
Beginning balance, shares at Apr. 29, 2017 | 43,747,944 | ||||||
Equity-based compensation | 237 | 237 | |||||
Net income | 11,996 | 11,996 | |||||
Ending Balance at Jul. 29, 2017 | 143,453 | $ 437 | 116,872 | 26,144 | |||
Ending balance, shares at Jul. 29, 2017 | 43,747,944 | ||||||
Equity-based compensation | 278 | 278 | |||||
Net income | 5,994 | 5,994 | |||||
Ending Balance at Oct. 28, 2017 | 149,725 | $ 437 | 117,150 | 32,138 | |||
Ending balance, shares at Oct. 28, 2017 | 43,747,944 | ||||||
Beginning balance at Feb. 03, 2018 | $ 179,316 | $ 437 | 117,393 | 61,486 | |||
Beginning balance, shares at Feb. 03, 2018 | 43,752,790 | 43,752,790 | |||||
Adoption of ASU 2014-09 | [1] | $ (288) | (288) | ||||
Vesting of restricted stock units | 1 | $ 1 | |||||
Vesting of restricted stock units, shares | 6,410 | ||||||
Equity-based compensation | 760 | 760 | |||||
Net income | 11,258 | 11,258 | |||||
Ending Balance at May. 05, 2018 | 191,047 | $ 438 | 118,153 | 72,456 | |||
Ending balance, shares at May. 05, 2018 | 43,759,200 | ||||||
Beginning balance at Feb. 03, 2018 | $ 179,316 | $ 437 | 117,393 | 61,486 | |||
Beginning balance, shares at Feb. 03, 2018 | 43,752,790 | 43,752,790 | |||||
Net income | $ 28,431 | ||||||
Ending Balance at Nov. 03, 2018 | $ 210,413 | $ 437 | 120,347 | 89,629 | |||
Ending balance, shares at Nov. 03, 2018 | 43,747,757 | 43,747,757 | |||||
Beginning balance at May. 05, 2018 | $ 191,047 | $ 438 | 118,153 | 72,456 | |||
Beginning balance, shares at May. 05, 2018 | 43,759,200 | ||||||
Vesting of restricted stock units, shares | 3,192 | ||||||
Forfeiture of restricted stock awards | (1) | $ (1) | |||||
Forfeiture of restricted stock awards, shares | (18,359) | ||||||
Equity-based compensation | 1,083 | 1,083 | |||||
Net income | 10,485 | 10,485 | |||||
Ending Balance at Aug. 04, 2018 | 202,614 | $ 437 | 119,236 | 82,941 | |||
Ending balance, shares at Aug. 04, 2018 | 43,744,033 | ||||||
Vesting of restricted stock units, shares | 3,724 | ||||||
Equity-based compensation | 1,111 | 1,111 | |||||
Net income | 6,688 | 6,688 | |||||
Ending Balance at Nov. 03, 2018 | $ 210,413 | $ 437 | $ 120,347 | $ 89,629 | |||
Ending balance, shares at Nov. 03, 2018 | 43,747,757 | 43,747,757 | |||||
[1] | See Note 2 for additional detail regarding the adoption of new accounting standards. |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Nov. 03, 2018 | Oct. 28, 2017 | |
Statement Of Cash Flows [Abstract] | ||
Net income | $ 28,431 | $ 26,017 |
Adjustments to reconcile net income to net cash provided by operating activities | ||
Depreciation and amortization | 27,397 | 25,759 |
Loss on disposal of fixed assets | 87 | 569 |
Noncash amortization of deferred financing and debt discount costs | 1,196 | 2,012 |
Equity-based compensation | 2,954 | 539 |
Deferred rent liability | (99) | 978 |
Deferred income taxes | (3,812) | (2,342) |
Changes in operating assets and liabilities: | ||
Accounts receivable | (2,777) | (5,211) |
Inventories | 1,747 | (18,764) |
Prepaid expenses and other current assets | (4,958) | 2,173 |
Accounts payable | (3,032) | 15,278 |
Accrued expenses | 44 | 667 |
Other noncurrent assets and liabilities | 2,850 | 6,860 |
Net cash provided by operating activities | 50,028 | 54,535 |
Investing activities: | ||
Purchases of property and equipment | (14,017) | (22,325) |
Net cash used in investing activities | (14,017) | (22,325) |
Financing activities: | ||
Repayments on long-term debt | (2,099) | (22,099) |
Receivable from related party | 2,227 | |
Net cash used in financing activities | (2,099) | (19,872) |
Net change in cash | 33,912 | 12,338 |
Cash: | ||
Beginning of Period | 25,978 | 13,468 |
End of Period | $ 59,890 | $ 25,806 |
Description of Business
Description of Business | 9 Months Ended |
Nov. 03, 2018 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Description of Business | 1. Description of Business J.Jill, Inc.,“J.Jill” or the “Company”, is a premier omnichannel retailer and nationally recognized women’s apparel brand committed to delighting customers with great wear-now product. The brand represents an easy, relaxed, inspired style that reflects the confidence and comfort of a woman with a rich, full life. J.Jill provides guiding service through more than 270 stores nationwide and a robust e-commerce platform. J.Jill is headquartered outside Boston. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Nov. 03, 2018 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies Basis of Presentation Our interim consolidated financial statements are unaudited. All significant intercompany balances and transactions have been eliminated in consolidation. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been omitted, in accordance with the rules of the Securities and Exchange Commission (the “SEC”). In the opinion of management, these interim consolidated financial statements contain all normal and recurring adjustments necessary to state fairly the financial position and results of operations of the Company. The consolidated balance sheet as of February 3, 2018 is derived from the audited consolidated balance sheet as of that date. The unaudited results of operations for the thirteen and thirty-nine weeks ended November 3, 2018 are not necessarily indicative of future results or results to be expected for the full year ending February 2, 2019. You should read these statements in conjunction with our audited consolidated financial statements and related notes in our Annual Report on Form 10-K for the year ended February 3, 2018. Significant changes to our accounting policies as a result of adopting Accounting Standards Update (“ASU”) 2014-09 – Revenue from Contracts with Customers (Topic 606) Recently Adopted Accounting Policies In May 2014, the FASB issued ASU 2014-09 – Revenue from Contracts with Customers (Topic 606) Revenue Recognition In October 2016 the FASB issued ASU 2016-16 – Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory . This update is intended to improve the accounting for the income tax consequences of intra-entity transfers of assets other than inventory. Under the new guidance, an entity would recognize the current and deferred income tax consequences of an intra-entity asset transfer when the transfer occurs. Intra-entity inventory transfers would still be an exception. The provisions of ASU 2016-16 were adopted as of February 4, 2018 under the modified retrospective method with no cumulative-effect adjustment to retained earnings. In August 2016, the FASB issued ASU 2016-15 – Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments, which addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The standard was retrospectively adopted as of February 4, 2018 and did not have an impact on the consolidated statement of cash flows. Recently Issued Accounting Pronouncements In September 2018, the FASB issued ASU 2018-15 – Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract In July 2018, the FASB issued ASU 2018-09 – Codification Improvements , which facilitates amendments to a variety of topics to clarify, correct errors in, or make minor improvements to the accounting standards codification. The effective date of the standard is dependent on the facts and circumstances of each amendment. Some amendments do not require transition guidance and will be effective upon the issuance of this standard. A majority of the amendments in ASU 2018-09 will be effective in annual periods beginning after December 15, 2018. We will be required to adopt this standard in the first quarter of fiscal 2019. This standard is not expected to have a material impact on our consolidated financial statements and related disclosures. In June 2018, the FASB issued ASU 2018-07 – Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting In February 2016, the FASB issued ASU 2016-02 – Leases Codification Improvements to Topic 842, Leases Leases (Topic 842): Targeted Improvements Significant Accounting Policies Update Adoption of ASC Topic 606: Revenue from Contracts with Customers On February 4, 2018, the Company adopted Topic 606 using the modified retrospective method applied to contracts which were not completed as of February 4, 2018. As part of the adoption of Topic 606, Topic 340-20 – Capitalized Advertising Costs Advertising Costs The Company recorded a cumulative reduction to opening retained earnings of $0.3 million. The impact on opening retained earnings was a $0.8 million decrease from the acceleration of prepaid catalog expenses offset by a $0.5 million increase from the recognition of direct revenues previously deferred under Topic 605. Effective February 4, 2018, the Company changed its consolidated balance sheet presentation for expected sales returns and recorded a $5.0 million return asset and a corresponding increase to the return liability to present our sales reserve gross in accordance with Topic 606. In addition, as of the date of adoption of Topic 606, the Company will present reimbursements of costs of marketing programs related to the private label credit card gross in the consolidated statement of operations with no impact to opening retained earnings. Revenue Recognition Revenue is primarily derived from the sale of apparel and accessory merchandise through our retail channel and direct channel, which includes website and catalog phone orders. Revenue also includes shipping and handling fees collected from customers. Topic 606 requires entities to recognize revenue when control of the promised goods or services are transferred to customers at an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. Revenue from our retail channel is recognized at the time of sale and revenue from our direct channel is recognized upon shipment of merchandise to the customer. The Company has a return policy where merchandise returns will be accepted within 90 days of the original purchase date. At the time of sale, the Company records an estimated sales reserve for merchandise returns based on historical prior returns experience and expected future returns. The estimated sales reserve is recorded as a return asset (and corresponding adjustment to cost of goods sold) for the cost of inventory and a return liability for the amount to settle the return with a customer (and a corresponding adjustment to revenue). The return asset and return liability are recorded in prepaid expenses and other assets, and accrued expenses and other current liabilities, respectively, in the consolidated balance sheet. The Company collects and remits sales and use taxes in all states in which retail and direct sales occur and taxes are applicable. These taxes are reported on a net basis and are thereby excluded from revenue. The Company sells gift cards without expiration dates to customers. The Company does not charge administrative fees on unused gift cards. Proceeds from the sale of gift cards are recorded as a contract liability until the customer redeems the gift card or when the likelihood of redemption is remote. Based on historical experience, the Company estimates the value of outstanding gift cards that will ultimately not be redeemed (“gift card breakage”) and will not be escheated under statutory unclaimed property laws. This gift card breakage is recognized as revenue over the time period established by the Company’s historical gift card redemption pattern. The Company recognizes revenues from shipments to customers before the shipping and handling activities occur and will accrue those related costs. Shipping and handling costs are recorded in selling, general and administrative expenses. There is no change to the Company’s comparative reporting of shipping and handling costs as a result of adopting of Topic 606. Credit Card Agreement The Company has an arrangement with a third party to provide a private label credit card to its customers through August 2023, and will automatically renew thereafter for successive two year terms. The Company does not bear the credit risk associated with the private label credit card at any point prior to the termination of the agreement, at which point the Company would be obligated to purchase the receivables. If the arrangement is terminated prior to September 7, 2021 and other criteria are met, the Company is obligated to pay a purchase price premium. The potential impact of the purchase obligation cannot be reasonably estimated, and therefore, has not been recorded. The Company receives royalty payments through its private label credit card agreement. The royalty payments are recognized as revenue when they are received. Royalty payments recognized in the thirteen and thirty-nine weeks ended November 3, 2018 were $1.5 million and $4.3 million, respectively, and in the thirteen and thirty-nine weeks ended October 28, 2017 were $1.2 million and $3.5 million, respectively. The Company also receives reimbursements for costs of marketing programs related to the private label credit card, which are recorded as revenue as earned and the costs incurred are recorded as operating expenses in selling, general and administrative expenses in the accompanying consolidated statements of operations and comprehensive income (loss). Reimbursements for costs of marketing programs of $0.2 million and $1.7 million were recognized in the thirteen and thirty-nine weeks ended November 3, 2018, respectively. The credit card agreement provides a signing bonus to the Company, which is recognized into revenue over the life of the agreement. Advertising Costs The Company incurs costs to produce, print, and distribute its catalogs. Catalog costs are considered direct response advertising, which are capitalized as incurred, and expensed when the catalog is mailed to the customer (the first time the advertising occurs). Advertising expenses were $11.3 million and $30.0 million in the thirteen and thirty-nine weeks ended November 3, 2018, respectively, and $9.6 million and $27.6 million in the thirteen and thirty-nine weeks ended October 28, 2017, respectively. The costs are included in selling, general and administrative expenses in the accompanying consolidated statements of operations and comprehensive income (loss). Other advertising costs are recorded as incurred. Other advertising costs recorded were $5.9 million and $17.1 million in the thirteen and thirty-nine weeks ended November 3, 2018, respectively, and $5.4 million and $15.9 million in the thirteen and thirty-nine weeks ended October 28, 2017, respectively. The costs are included in selling, general and administrative expenses in the accompanying consolidated statements of operations and comprehensive income (loss). |
Revenues
Revenues | 9 Months Ended |
Nov. 03, 2018 | |
Revenue From Contract With Customer [Abstract] | |
Revenues | 3. Revenues Disaggregation of Revenue The Company sells its products directly to consumers and the Company earns royalties under its credit card agreement. The following table presents revenues disaggregated by revenue source (in thousands): For the Thirteen Weeks Ended For the Thirty-Nine Weeks Ended November 3, 2018 October 28, 2017 (1) November 3, 2018 October 28, 2017 (1) Retail $ 104,840 $ 98,070 $ 319,080 $ 296,606 Direct $ 69,266 $ 63,905 216,280 212,867 Net revenues $ 174,106 $ 161,975 $ 535,360 $ 509,473 (1) As previously noted, prior period amounts have not been adjusted under the modified retrospective method. Contract Liabilities The Company recognizes a contract liability when it has received consideration from the customer and has a future obligation to the customer. Total contract liabilities consisted of the following (in thousands): November 3, 2018 February 3, 2018 Contract liabilities: Signing bonus $ 682 $ 788 Unredeemed gift cards 4,588 6,466 Total contract liabilities (1) $ 5,270 $ 7,254 (1) Included in accrued expenses and other current liabilities on the Company's consolidated balance sheet. The short term portion of the signing bonus is included in accrued expenses on the Company’s consolidated balance sheet. For the thirteen and thirty-nine weeks ended November 3, 2018, the Company recognized approximately $2.1 million and $8.2 million of revenue related to gift card redemptions and breakage. For the thirteen and thirty-nine weeks ended October 28, 2017, the Company recognized approximately $2.0 million and $7.9 million of revenue related to gift card redemptions and breakage. Revenue recognized consists of gift cards that were part of the unredeemed gift card balance at the beginning of the period as well as gift cards that were issued during the period. Performance Obligations The Company has a remaining performance obligation of $0.7 million for a signing bonus related to the private label credit card agreement. The Company will recognize revenue over the remaining life of the contract as follows (in thousands): Fiscal Year 2018 Fiscal Year 2019 Thereafter Signing bonus $ 35 $ 141 $ 506 This disclosure does not include revenue related to performance obligations from unredeemed gift cards, as substantially all gift cards are redeemed in the first year of issuance. Practical Expedients and Policy Elections The Company excludes from its transaction price all amounts collected from customers for sales taxes that are remitted to taxing authorities. Shipping and handling activities that occur after control of related goods transfers to the customer are accounted for as fulfillment activities rather than assessing these activities as performance obligations. The Company does not disclose remaining performance obligations that have an expected duration of one year or less. |
Debt
Debt | 9 Months Ended |
Nov. 03, 2018 | |
Debt Disclosure [Abstract] | |
Debt | 4. Debt The components of the Company’s outstanding Term Loan were as follows (in thousands): November 3, 2018 February 3, 2018 Term Loan $ 246,077 $ 248,176 Discount on debt and debt issuance costs (5,465 ) (6,496 ) Less: Current portion (2,799 ) (2,799 ) Net long-term debt $ 237,813 $ 238,881 The Company was in compliance with all financial covenants as of November 3, 2018. |
Income Taxes
Income Taxes | 9 Months Ended |
Nov. 03, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 5. Income Taxes The Company recorded income tax expense of $2.5 million and $10.4 million during the thirteen and thirty-nine weeks ended November 3, 2018, respectively, and $2.8 million and $16.9 million during the thirteen and thirty-nine weeks ended October 28, 2017, respectively. The effective tax rates were 27.1% and 26.8% in the thirteen and thirty-nine weeks ended November 3, 2018, respectively, and 31.6% and 39.4% in the thirteen and thirty-nine weeks ended October 28, 2017, respectively. The effective tax rate for the thirteen and thirty-nine weeks ended November 3, 2018 exceeds the federal statutory rate of 21.0% primarily due to stock compensation, state income taxes and §162(m) officer compensation limitation. The effective tax rate for the thirteen and thirty-nine weeks ended October 28, 2017 exceeds the federal statutory rate of 35.0% primarily due to state income taxes and non-deductible IPO related expenses. On December 22, 2017, the U.S. Tax Cuts and Jobs Act (TCJA) legislation was signed. The new U.S. tax legislation is subject to a number of provisions, including Staff Accounting Bulletin No. 118 (“SAB 118”), issued by the Securities and Exchange Commission in December 2017, provides the Company with up to one year to finalize accounting for the impacts of TCJA. When the initial accounting for TCJA impacts is incomplete, the Company may include provisional amounts when reasonable estimates may be determined. As of February 3, 2018, the Company made a reasonable estimate of its deferred income tax benefit related to the corporate rate change of $24.0 million and estimates to expense qualifying capital expenditures. In the thirteen and thirty-nine weeks ended November 3, 2018, the Company has not recognized any measurement period adjustments. The Company has not completed its to determine the final impact of TCJA. The final impact may differ from this estimate, possibly materially, due to, among other things, changes in interpretations and assumptions that the Company has made and the issuance of additional regulatory and other guidance. Further, any required adjustment would be reflected as a discrete expense or benefit in the quarter that it is identified, as allowed by SAB 118. A |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Nov. 03, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | 6. Earnings Per Share The following table summarizes the computation of basic and diluted net income per share attributable to common shareholders (in thousands, except share and per share data): For the Thirteen Weeks Ended For the Thirty-Nine Weeks Ended November 3, 2018 October 28, 2017 November 3, 2018 October 28, 2017 Numerator Net income attributable to common shareholders: $ 6,688 $ 5,994 $ 28,431 $ 26,017 Denominator Weighted average number of common shares outstanding, basic: 42,953,173 41,731,765 42,674,957 41,933,244 Dilutive effect of stock options and restricted shares: 1,522,620 1,822,235 1,524,843 1,535,602 Weighted average number of common shares outstanding, diluted: 44,475,793 43,554,000 44,199,800 43,468,846 Net income per common share attributable to common shareholders, basic: $ 0.16 $ 0.14 $ 0.67 $ 0.62 Net income per common share attributable to common shareholders, diluted: $ 0.15 $ 0.14 $ 0.64 $ 0.60 The weighted average common shares for the diluted earnings per share calculation exclude the impact of outstanding equity awards if the assumed proceeds per share of the award is in excess of the related fiscal period’s average price of the Company’s common stock. Such awards are excluded because they would have an antidilutive effect. There were 1,083,876 and 847,600 for the thirteen and thirty-nine weeks ended November 3, 2018, respectively, and 277,006 and 270,090 for the thirteen and thirty-nine weeks ended October 28, 2017, respectively, such awards excluded. |
Equity-Based Compensation
Equity-Based Compensation | 9 Months Ended |
Nov. 03, 2018 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Equity-Based Compensation | 7. Equity-Based Compensation Compensation expense was $1.1 million and $2.9 million for the thirteen and thirty-nine weeks ended November 3, 2018, respectively, and $0.3 million and $0.5 million for the thirteen and thirty-nine weeks ended October 28, 2017, respectively. |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Nov. 03, 2018 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 8. Related Party Transactions For the thirteen and thirty-nine weeks ended November 3, 2018, the Company incurred an immaterial amount of related party transactions. For the thirteen and thirty-nine weeks ended October 28, 2017 the Company incurred an immaterial amount of out-of-pocket expenses in relation to the advisory services agreement with a related party. These expenses are included in operating expenses in the accompanying consolidated statements of operations and comprehensive income. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Nov. 03, 2018 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 9. Commitments and Contingencies Operating Lease Agreements The Company recorded a deferred lease liability of $11.2 million and $9.5 million as of November 3, 2018 and February 3, 2018, respectively. In certain instances, the Company also receives tenant improvement incentives for its store leases, which it accrues and amortizes ratably over the life of the lease. The Company maintained a tenant improvement incentive liability of $18.8 million and $17.3 million as of November 3, 2018 and February 3, 2018, respectively. Total rental and common area maintenance expense was $15.1 million and $45.7 million for the thirteen and thirty-nine weeks ended November 3, 2018, respectively, exclusive of contingent rental expense recorded of $0.4 million and $1.0 million for the same respective periods. Total rental and common area maintenance expense was $15.2 million and $44.6 million for the thirteen and thirty-nine weeks ended October 28, 2017, respectively, exclusive of contingent rental expense recorded of $0.4 million and $1.2 million for the same respective periods. Legal Proceedings Shareholder Class Action Lawsuits On October 13, 2017, a securities lawsuit was filed in the United States District Court for the District of Massachusetts against the Company, several members of our Board of Directors and our Chief Financial Officer, among others. The complaint was brought under the Securities Act of 1933 and sought certification of a class of plaintiffs comprised of all shareholders that acquired stock issued by the Company in its initial public offering in March 2017. The plaintiffs sought compensation for losses they incurred since purchasing the stock. Following the filing of this lawsuit, two additional, similar actions were brought in the same court. The three matters were eventually consolidated, and a lead plaintiff was appointed by the court. On March 9, 2018, an amended complaint captioned The Pension Trust v. J.Jill, Inc., et al. We are not presently party to any other legal proceedings the resolution of which we believe would have a material adverse effect on our business, financial condition, operating results or cash flows. We establish reserves for specific legal matters when we determine that the likelihood of an unfavorable outcome is probable and the loss is reasonably estimable. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Nov. 03, 2018 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation Our interim consolidated financial statements are unaudited. All significant intercompany balances and transactions have been eliminated in consolidation. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been omitted, in accordance with the rules of the Securities and Exchange Commission (the “SEC”). In the opinion of management, these interim consolidated financial statements contain all normal and recurring adjustments necessary to state fairly the financial position and results of operations of the Company. The consolidated balance sheet as of February 3, 2018 is derived from the audited consolidated balance sheet as of that date. The unaudited results of operations for the thirteen and thirty-nine weeks ended November 3, 2018 are not necessarily indicative of future results or results to be expected for the full year ending February 2, 2019. You should read these statements in conjunction with our audited consolidated financial statements and related notes in our Annual Report on Form 10-K for the year ended February 3, 2018. Significant changes to our accounting policies as a result of adopting Accounting Standards Update (“ASU”) 2014-09 – Revenue from Contracts with Customers (Topic 606) |
Recently Adopted Accounting Policies, Recently Issued Accounting Pronouncements and Significant Accounting Policies Update | Recently Adopted Accounting Policies In May 2014, the FASB issued ASU 2014-09 – Revenue from Contracts with Customers (Topic 606) Revenue Recognition In October 2016 the FASB issued ASU 2016-16 – Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory . This update is intended to improve the accounting for the income tax consequences of intra-entity transfers of assets other than inventory. Under the new guidance, an entity would recognize the current and deferred income tax consequences of an intra-entity asset transfer when the transfer occurs. Intra-entity inventory transfers would still be an exception. The provisions of ASU 2016-16 were adopted as of February 4, 2018 under the modified retrospective method with no cumulative-effect adjustment to retained earnings. In August 2016, the FASB issued ASU 2016-15 – Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments, which addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The standard was retrospectively adopted as of February 4, 2018 and did not have an impact on the consolidated statement of cash flows. Recently Issued Accounting Pronouncements In September 2018, the FASB issued ASU 2018-15 – Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract In July 2018, the FASB issued ASU 2018-09 – Codification Improvements , which facilitates amendments to a variety of topics to clarify, correct errors in, or make minor improvements to the accounting standards codification. The effective date of the standard is dependent on the facts and circumstances of each amendment. Some amendments do not require transition guidance and will be effective upon the issuance of this standard. A majority of the amendments in ASU 2018-09 will be effective in annual periods beginning after December 15, 2018. We will be required to adopt this standard in the first quarter of fiscal 2019. This standard is not expected to have a material impact on our consolidated financial statements and related disclosures. In June 2018, the FASB issued ASU 2018-07 – Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting In February 2016, the FASB issued ASU 2016-02 – Leases Codification Improvements to Topic 842, Leases Leases (Topic 842): Targeted Improvements Significant Accounting Policies Update Adoption of ASC Topic 606: Revenue from Contracts with Customers On February 4, 2018, the Company adopted Topic 606 using the modified retrospective method applied to contracts which were not completed as of February 4, 2018. As part of the adoption of Topic 606, Topic 340-20 – Capitalized Advertising Costs Advertising Costs The Company recorded a cumulative reduction to opening retained earnings of $0.3 million. The impact on opening retained earnings was a $0.8 million decrease from the acceleration of prepaid catalog expenses offset by a $0.5 million increase from the recognition of direct revenues previously deferred under Topic 605. Effective February 4, 2018, the Company changed its consolidated balance sheet presentation for expected sales returns and recorded a $5.0 million return asset and a corresponding increase to the return liability to present our sales reserve gross in accordance with Topic 606. In addition, as of the date of adoption of Topic 606, the Company will present reimbursements of costs of marketing programs related to the private label credit card gross in the consolidated statement of operations with no impact to opening retained earnings. |
Revenue Recognition | Revenue Recognition Revenue is primarily derived from the sale of apparel and accessory merchandise through our retail channel and direct channel, which includes website and catalog phone orders. Revenue also includes shipping and handling fees collected from customers. Topic 606 requires entities to recognize revenue when control of the promised goods or services are transferred to customers at an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. Revenue from our retail channel is recognized at the time of sale and revenue from our direct channel is recognized upon shipment of merchandise to the customer. The Company has a return policy where merchandise returns will be accepted within 90 days of the original purchase date. At the time of sale, the Company records an estimated sales reserve for merchandise returns based on historical prior returns experience and expected future returns. The estimated sales reserve is recorded as a return asset (and corresponding adjustment to cost of goods sold) for the cost of inventory and a return liability for the amount to settle the return with a customer (and a corresponding adjustment to revenue). The return asset and return liability are recorded in prepaid expenses and other assets, and accrued expenses and other current liabilities, respectively, in the consolidated balance sheet. The Company collects and remits sales and use taxes in all states in which retail and direct sales occur and taxes are applicable. These taxes are reported on a net basis and are thereby excluded from revenue. The Company sells gift cards without expiration dates to customers. The Company does not charge administrative fees on unused gift cards. Proceeds from the sale of gift cards are recorded as a contract liability until the customer redeems the gift card or when the likelihood of redemption is remote. Based on historical experience, the Company estimates the value of outstanding gift cards that will ultimately not be redeemed (“gift card breakage”) and will not be escheated under statutory unclaimed property laws. This gift card breakage is recognized as revenue over the time period established by the Company’s historical gift card redemption pattern. The Company recognizes revenues from shipments to customers before the shipping and handling activities occur and will accrue those related costs. Shipping and handling costs are recorded in selling, general and administrative expenses. There is no change to the Company’s comparative reporting of shipping and handling costs as a result of adopting of Topic 606. |
Credit Card Agreement | Credit Card Agreement The Company has an arrangement with a third party to provide a private label credit card to its customers through August 2023, and will automatically renew thereafter for successive two year terms. The Company does not bear the credit risk associated with the private label credit card at any point prior to the termination of the agreement, at which point the Company would be obligated to purchase the receivables. If the arrangement is terminated prior to September 7, 2021 and other criteria are met, the Company is obligated to pay a purchase price premium. The potential impact of the purchase obligation cannot be reasonably estimated, and therefore, has not been recorded. The Company receives royalty payments through its private label credit card agreement. The royalty payments are recognized as revenue when they are received. Royalty payments recognized in the thirteen and thirty-nine weeks ended November 3, 2018 were $1.5 million and $4.3 million, respectively, and in the thirteen and thirty-nine weeks ended October 28, 2017 were $1.2 million and $3.5 million, respectively. The Company also receives reimbursements for costs of marketing programs related to the private label credit card, which are recorded as revenue as earned and the costs incurred are recorded as operating expenses in selling, general and administrative expenses in the accompanying consolidated statements of operations and comprehensive income (loss). Reimbursements for costs of marketing programs of $0.2 million and $1.7 million were recognized in the thirteen and thirty-nine weeks ended November 3, 2018, respectively. The credit card agreement provides a signing bonus to the Company, which is recognized into revenue over the life of the agreement. |
Advertising Costs | Advertising Costs The Company incurs costs to produce, print, and distribute its catalogs. Catalog costs are considered direct response advertising, which are capitalized as incurred, and expensed when the catalog is mailed to the customer (the first time the advertising occurs). Advertising expenses were $11.3 million and $30.0 million in the thirteen and thirty-nine weeks ended November 3, 2018, respectively, and $9.6 million and $27.6 million in the thirteen and thirty-nine weeks ended October 28, 2017, respectively. The costs are included in selling, general and administrative expenses in the accompanying consolidated statements of operations and comprehensive income (loss). Other advertising costs are recorded as incurred. Other advertising costs recorded were $5.9 million and $17.1 million in the thirteen and thirty-nine weeks ended November 3, 2018, respectively, and $5.4 million and $15.9 million in the thirteen and thirty-nine weeks ended October 28, 2017, respectively. The costs are included in selling, general and administrative expenses in the accompanying consolidated statements of operations and comprehensive income (loss). |
Revenues (Tables)
Revenues (Tables) | 9 Months Ended |
Nov. 03, 2018 | |
Revenue From Contract With Customer [Abstract] | |
Schedule of Revenues Disaggregated by Revenue Source | The following table presents revenues disaggregated by revenue source (in thousands): For the Thirteen Weeks Ended For the Thirty-Nine Weeks Ended November 3, 2018 October 28, 2017 (1) November 3, 2018 October 28, 2017 (1) Retail $ 104,840 $ 98,070 $ 319,080 $ 296,606 Direct $ 69,266 $ 63,905 216,280 212,867 Net revenues $ 174,106 $ 161,975 $ 535,360 $ 509,473 (1) As previously noted, prior period amounts have not been adjusted under the modified retrospective method. |
Schedule of Contract Liabilities | Total contract liabilities consisted of the following (in thousands): November 3, 2018 February 3, 2018 Contract liabilities: Signing bonus $ 682 $ 788 Unredeemed gift cards 4,588 6,466 Total contract liabilities (1) $ 5,270 $ 7,254 (1) Included in accrued expenses and other current liabilities on the Company's consolidated balance sheet. The short term portion of the signing bonus is included in accrued expenses on the Company’s consolidated balance sheet. |
Schedule of Revenue Recognized Over Remaining Life of Contract | The Company will recognize revenue over the remaining life of the contract as follows (in thousands): Fiscal Year 2018 Fiscal Year 2019 Thereafter Signing bonus $ 35 $ 141 $ 506 |
Debt (Tables)
Debt (Tables) | 9 Months Ended |
Nov. 03, 2018 | |
Debt Disclosure [Abstract] | |
Components of Outstanding Term Loan | The components of the Company’s outstanding Term Loan were as follows (in thousands): November 3, 2018 February 3, 2018 Term Loan $ 246,077 $ 248,176 Discount on debt and debt issuance costs (5,465 ) (6,496 ) Less: Current portion (2,799 ) (2,799 ) Net long-term debt $ 237,813 $ 238,881 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Nov. 03, 2018 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Net Income Per Share Attributable to Common Shareholders | The following table summarizes the computation of basic and diluted net income per share attributable to common shareholders (in thousands, except share and per share data): For the Thirteen Weeks Ended For the Thirty-Nine Weeks Ended November 3, 2018 October 28, 2017 November 3, 2018 October 28, 2017 Numerator Net income attributable to common shareholders: $ 6,688 $ 5,994 $ 28,431 $ 26,017 Denominator Weighted average number of common shares outstanding, basic: 42,953,173 41,731,765 42,674,957 41,933,244 Dilutive effect of stock options and restricted shares: 1,522,620 1,822,235 1,524,843 1,535,602 Weighted average number of common shares outstanding, diluted: 44,475,793 43,554,000 44,199,800 43,468,846 Net income per common share attributable to common shareholders, basic: $ 0.16 $ 0.14 $ 0.67 $ 0.62 Net income per common share attributable to common shareholders, diluted: $ 0.15 $ 0.14 $ 0.64 $ 0.60 |
Description of Business - Addit
Description of Business - Additional Information (Detail) | Nov. 03, 2018Store |
Minimum [Member] | |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |
Number of Stores | 270 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Nov. 03, 2018 | Oct. 28, 2017 | Nov. 03, 2018 | Oct. 28, 2017 | Feb. 04, 2018 | |
Schedule Of Significant Accounting Policies [Line Items] | |||||
Expected sales returns | $ 5,000 | ||||
Credit card arrangement extension, description | The Company has an arrangement with a third party to provide a private label credit card to its customers through August 2023, and will automatically renew thereafter for successive two year terms. | ||||
Royalty payments recognized as revenue | $ 174,106 | $ 161,975 | $ 535,360 | $ 509,473 | |
Operating Expenses [Member] | |||||
Schedule Of Significant Accounting Policies [Line Items] | |||||
Reimbursements for credit card marketing program | 200 | 1,700 | |||
Selling, General and Administrative Expenses [Member] | |||||
Schedule Of Significant Accounting Policies [Line Items] | |||||
Advertising expenses | 11,300 | 9,600 | 30,000 | 27,600 | |
Other advertising expense | 5,900 | 5,400 | 17,100 | 15,900 | |
Royalty [Member] | |||||
Schedule Of Significant Accounting Policies [Line Items] | |||||
Royalty payments recognized as revenue | 1,500 | $ 1,200 | 4,300 | $ 3,500 | |
ASU 2014-09 [Member] | Retained Earnings [Member] | |||||
Schedule Of Significant Accounting Policies [Line Items] | |||||
Cumulative effect reduction to accumulated retained earnings | 800 | 800 | |||
ASU 2014-09 [Member] | Retained Earnings [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | |||||
Schedule Of Significant Accounting Policies [Line Items] | |||||
Cumulative effect reduction to accumulated retained earnings | 300 | 300 | |||
ASU 2014-09 [Member] | Retained Earnings [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||||
Schedule Of Significant Accounting Policies [Line Items] | |||||
Cumulative effect reduction to accumulated retained earnings | $ 500 | $ 500 |
Revenues - Schedule of Revenues
Revenues - Schedule of Revenues Disaggregated by Revenue Source (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Nov. 03, 2018 | Oct. 28, 2017 | Nov. 03, 2018 | Oct. 28, 2017 | |
Disaggregation Of Revenue [Line Items] | ||||
Net revenues | $ 174,106 | $ 161,975 | $ 535,360 | $ 509,473 |
Retail [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenues | 104,840 | 98,070 | 319,080 | 296,606 |
Direct [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net revenues | $ 69,266 | $ 63,905 | $ 216,280 | $ 212,867 |
Revenues - Schedule of Contract
Revenues - Schedule of Contract Liabilities (Detail) - USD ($) $ in Thousands | Nov. 03, 2018 | Feb. 03, 2018 |
Contract liabilities: | ||
Signing bonus | $ 682 | $ 788 |
Unredeemed gift cards | 4,588 | 6,466 |
Total contract liabilities | $ 5,270 | $ 7,254 |
Revenues - Additional Informati
Revenues - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Nov. 03, 2018 | Oct. 28, 2017 | Nov. 03, 2018 | Oct. 28, 2017 | |
Disaggregation Of Revenue [Line Items] | ||||
Revenue recognized related to gift card redemptions and breakage | $ 2.1 | $ 2 | $ 8.2 | $ 7.9 |
Signing bonus | $ 0.7 | $ 0.7 |
Revenues - Schedule of Revenue
Revenues - Schedule of Revenue Recognized Over Remaining Life of Contract (Detail) $ in Thousands | Nov. 03, 2018USD ($) |
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items] | |
Signing bonus | $ 700 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2018-11-04 | |
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items] | |
Signing bonus | $ 35 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 3 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2019-02-03 | |
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items] | |
Signing bonus | $ 141 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-02-02 | |
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items] | |
Signing bonus | $ 506 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period |
Debt - Components of Outstandin
Debt - Components of Outstanding Term Loan (Detail) - USD ($) $ in Thousands | Nov. 03, 2018 | Feb. 03, 2018 |
Long Term Debt [Abstract] | ||
Term Loan | $ 246,077 | $ 248,176 |
Discount on debt and debt issuance costs | (5,465) | (6,496) |
Less: Current portion | (2,799) | (2,799) |
Net long-term debt | $ 237,813 | $ 238,881 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | 11 Months Ended | 12 Months Ended | ||
Nov. 03, 2018 | Oct. 28, 2017 | Nov. 03, 2018 | Oct. 28, 2017 | Dec. 31, 2017 | Feb. 03, 2018 | |
Income Tax Disclosure [Abstract] | ||||||
Income tax expense | $ 2,488,000 | $ 2,766,000 | $ 10,412,000 | $ 16,926,000 | ||
Effective income tax rate | 27.10% | 31.60% | 26.80% | 39.40% | ||
U.S. Federal corporate income tax rate | 21.00% | 35.00% | 21.00% | 35.00% | 35.00% | |
Deferred income tax benefit related to TCJA | $ 24,000,000 | |||||
Measurement period adjustments related to TCJA | $ 0 | $ 0 |
Earnings Per Share - Computatio
Earnings Per Share - Computation of Basic and Diluted Net Income Per Share Attributable to Common Shareholders (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Nov. 03, 2018 | Oct. 28, 2017 | Nov. 03, 2018 | Oct. 28, 2017 | |
Numerator | ||||
Net income attributable to common shareholders: | $ 6,688 | $ 5,994 | $ 28,431 | $ 26,017 |
Denominator | ||||
Weighted average number of common shares outstanding, basic: | 42,953,173 | 41,731,765 | 42,674,957 | 41,933,244 |
Dilutive effect of stock options and restricted shares: | 1,522,620 | 1,822,235 | 1,524,843 | 1,535,602 |
Weighted average number of common shares outstanding, diluted: | 44,475,793 | 43,554,000 | 44,199,800 | 43,468,846 |
Net income per common share attributable to common shareholders, basic: | $ 0.16 | $ 0.14 | $ 0.67 | $ 0.62 |
Net income per common share attributable to common shareholders, diluted: | $ 0.15 | $ 0.14 | $ 0.64 | $ 0.60 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - shares | 3 Months Ended | 9 Months Ended | ||
Nov. 03, 2018 | Oct. 28, 2017 | Nov. 03, 2018 | Oct. 28, 2017 | |
Earnings Per Share [Abstract] | ||||
Antidilutive equity awards excluded from the computation of diluted earnings per share | 1,083,876 | 277,006 | 847,600 | 270,090 |
Equity-Based Compensation - Add
Equity-Based Compensation - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Nov. 03, 2018 | Oct. 28, 2017 | Nov. 03, 2018 | Oct. 28, 2017 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ||||
Equity based compensation expense | $ 1.1 | $ 0.3 | $ 2.9 | $ 0.5 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Nov. 03, 2018 | Oct. 28, 2017 | Nov. 03, 2018 | Oct. 28, 2017 | Feb. 03, 2018 | |
Commitments And Contingencies Disclosure [Abstract] | |||||
Deferred lease liability | $ 11.2 | $ 11.2 | $ 9.5 | ||
Tenant improvement incentive liability | 18.8 | 18.8 | $ 17.3 | ||
Rent and common area maintenance expense | 15.1 | $ 15.2 | 45.7 | $ 44.6 | |
Contingent rental expense | $ 0.4 | $ 0.4 | $ 1 | $ 1.2 |