Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended |
2-May-15 | |
Document and Entity Information [Abstract] | |
Entity Registrant Name | Cato Corp |
Entity Central Index Key | 18255 |
Document Type | 10-Q |
Document Period End Date | 3-May-14 |
Amendment Flag | FALSE |
Current Fiscal Year End Date | 2 |
Entity Well Known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Class of Stock [Line Items] | |
Document Fiscal Year Focus | 2015 |
Document Fiscal Period Focus | Q1 |
Common Class A [Member] | |
Class of Stock [Line Items] | |
Entity Common Stock, Shares Outstanding (actual number) | 26,319,927 |
Common Class B [Member] | |
Class of Stock [Line Items] | |
Entity Common Stock, Shares Outstanding (actual number) | 1,743,525 |
Condensed_Consolidated_Income_
Condensed Consolidated Income Statements Of Income and Comprehensive Income (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | 2-May-15 | 3-May-14 |
Revenues | ||
Retail sales | $281,575 | $282,462 |
Other Revenue (principally finance charges, late fees and layaway charges) | 2,324 | 2,270 |
Total revenues | 283,899 | 284,732 |
COSTS AND EXPENSES, NET | ||
Cost of goods sold (exclusive of depreciation shown below) | 162,520 | 164,363 |
Selling, general and administrative (exclusive of depreciation shown below) | 68,584 | 67,487 |
Depreciation | 5,374 | 5,452 |
Interest and other income | 568 | 742 |
Cost and expenses, net | 235,910 | 236,560 |
Income before income taxes | 47,989 | 48,172 |
Income tax expense | 16,906 | 18,166 |
Net income | 31,083 | 30,006 |
Basic earnings per share | $1.11 | $1.04 |
Diluted earnings per share | $1.11 | $1.04 |
Dividends per share | $0.30 | $0.30 |
Comprehensive income | ||
Net income | 31,083 | 30,006 |
Unrealized gain on available-for-sale securities, net of deferred income taxes | -332 | -51 |
Comprehensive Income | $30,751 | $29,955 |
Condensed_Consolidated_Income_1
Condensed Consolidated Income Statements Of Income and Comprehensive Income (Parenthetical) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | 2-May-15 | 3-May-14 |
OtherComprehensiveIncomeLossTaxParentheticalDisclosuresAbstract | ||
Tax Effect of Unrealized Gains (Losses) On Available-For-Sale Securities | ($201) | ($32) |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | 2-May-15 | Jan. 31, 2015 | 3-May-14 |
In Thousands, unless otherwise specified | |||
Current Assets: | |||
Cash and cash equivalents | $94,294 | $93,946 | $79,468 |
Short-term investments | 177,471 | 162,185 | 159,286 |
Restricted cash and investments | 4,474 | 4,479 | 4,699 |
Accounts receivable, net of allowance for doubtful accounts | 38,316 | 41,023 | 41,036 |
Merchandise inventories | 133,862 | 137,549 | 129,652 |
Deferred income taxes | 4,492 | 4,291 | 4,752 |
Prepaid expenses | 13,384 | 10,978 | 10,522 |
Total Current Assets | 466,293 | 454,451 | 429,415 |
Property and equipment - net | 133,480 | 135,181 | 142,989 |
DeferredTaxAssetsNetNoncurrent | 4,567 | 3,363 | 1,375 |
Other assets | 17,894 | 15,283 | 9,458 |
Total Assets | 622,234 | 608,278 | 583,237 |
Current Liabilities: | |||
Accounts payable | 101,116 | 111,674 | 96,816 |
Accrued expenses | 47,322 | 48,404 | 44,258 |
Accrued benefits | 4,310 | 19,567 | 6,009 |
Accrued income taxes | 32,321 | 14,256 | 32,479 |
Total Current Liabilities | 185,069 | 193,901 | 179,562 |
Deferred tax liabilities noncurrent | 0 | 0 | 0 |
Other noncurrent liabilities (primarily deferred rent) | 34,177 | 34,179 | 30,170 |
Commitments And Contingenciess | 0 | 0 | 0 |
Stockholders' Equity: | |||
Preferred stock, $100 par value per share, 100,000 shares authorized, none issued | 0 | 0 | 0 |
Class of Stock [Line Items] | |||
Common stock | 935 | 931 | 934 |
Additional paid-in capital | 85,983 | 85,029 | 81,324 |
Retained earnings | 315,616 | 293,452 | 290,520 |
Accumulated other comprehensive income | 454 | 786 | 727 |
Total Stockholders' Equity | 402,988 | 380,198 | 373,505 |
Liabilities And Stockholders Equity | 622,234 | 608,278 | 583,237 |
Common Class A [Member] | |||
Class of Stock [Line Items] | |||
Common stock | 877 | 873 | 876 |
Common Class B [Member] | |||
Class of Stock [Line Items] | |||
Common stock | $58 | $58 | $58 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) (USD $) | 2-May-15 | Jan. 31, 2015 | 3-May-14 |
In Thousands, except Share data, unless otherwise specified | |||
Class of Stock [Line Items] | |||
Allowance For Doubtful Accounts Receivable Current | $1,535 | $1,542 | $1,732 |
Preferred Stock Par Or Stated Value Per Share | $100 | $100 | $100 |
Preferred Stock Shares Authorized | 1,000,000 | 1,000,000 | 1,000,000 |
Preferred Stock Shares Issued | 0 | 0 | 0 |
Common Class B [Member] | |||
Class of Stock [Line Items] | |||
Common Stock Shares Authorized | 15,000,000 | 15,000,000 | 15,000,000 |
Common Stock Shares Issued | 1,743,525 | 1,743,525 | 1,743,525 |
Common Stock Par Or Stated Value Per Share | $0.03 | $0.03 | $0.03 |
Common Class A [Member] | |||
Class of Stock [Line Items] | |||
Common Stock Shares Authorized | 50,000,000 | 50,000,000 | 50,000,000 |
Common Stock Shares Issued | 26,319,927 | 26,174,684 | 26,282,502 |
Common Stock Par Or Stated Value Per Share | $0.03 | $0.03 | $0.03 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | 2-May-15 | 3-May-14 |
OPERATING ACTIVITIES | ||
Net income | $31,083 | $30,006 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation | 5,374 | 5,452 |
Provision For Doubtful Accounts | 259 | 307 |
Purchase premium and premium amortization | -1,214 | 296 |
Share Based Compensation | 667 | 555 |
Excess tax benefits from share-based compensation | -59 | -55 |
Deferred income taxes | -1,204 | -2 |
Loss on disposal of property and equipment | 67 | 118 |
Impairment of Leasehold | 0 | 0 |
Changes in operating assets and liabilities which provided (used) cash: | ||
Accounts receivable | 2,448 | -2,119 |
Merchandise inventories | 3,687 | 21,209 |
Prepaid and other assets | -2,650 | -4,723 |
Accrued income taxes | 18,124 | 17,679 |
Accounts payable, accrued expenses and other liabilities | -26,817 | -13,704 |
Net cash provided by operating activities | 29,765 | 55,019 |
INVESTING ACTIVITIES | ||
Capital expenditures | -4,579 | -7,423 |
Purchase of short-term investments | -28,531 | -8,905 |
Sales of short-term investments | 13,885 | 10,354 |
Payments to Acquire Projects | -1,837 | -1,203 |
Proceeds from Sale of Investment Projects | -268 | -311 |
Change in restricted cash and investments | 5 | 2 |
Net cash used in investing activities | -20,789 | -6,864 |
FINANCING ACTIVITIES | ||
Dividends paid | -8,374 | -8,748 |
Repurchase of common stock | -547 | -39,681 |
Proceeds from employee stock purchase plan | 235 | 260 |
Excess tax benefits from share-based compensation financing activities | 59 | 55 |
Proceeds From Stock Options Exercised | 0 | 0 |
Net cash provided used in financing activities | -8,627 | -48,114 |
Net increase in cash and cash equivalents | 349 | 41 |
Cash and cash equivalents at beginning of period | 93,946 | 79,427 |
Effect of Exchange Rate on Cash | -1 | 0 |
Cash and cash equivalents at end of period | 94,294 | 79,468 |
Change in Accrued PPE | ($1,697) | ($3,314) |
General_Notes_to_Financial_Sta
General - Notes to Financial Statements | 3 Months Ended |
2-May-15 | |
General Dsiclosure [Abstract] | |
Summary of Significant Account Policies | |
NOTE 1 - GENERAL: | |
The condensed consolidated financial statements have been prepared from the accounting records of The Cato Corporation and its wholly-owned subsidiaries (the “Company”), and all amounts shown as of and for the periods ended May 2, 2015 and May 3, 2014 are unaudited. In the opinion of management, all adjustments considered necessary for a fair statement have been included. All such adjustments are of a normal, recurring nature unless otherwise noted. The results of the interim period may not be indicative of the results expected for the entire year. | |
The interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto, included in the Company's Annual Report on Form 10-K for the fiscal year ended January 31, 2015. Amounts as of January 31, 2015 have been derived from the audited balance sheet, but do not include all disclosures required by accounting principles generally accepted in the United States of America. | |
During the first quarter of 2015, the Company determined that it had improperly calculated a long-term deferred tax liability in prior periods due to the inclusion of certain insurance premium amounts related to its captive insurance company. The Company recorded an out of period adjustment during the three month period ended May 2, 2015 which resulted in a decrease in its long-term deferred tax liability by $1.2 million, decreased its Income tax expense by $1.0 million and increased its Accrued income taxes by $0.2 million. The Condensed Consolidated Statements of Income and Comprehensive Income, Balance Sheet and Statement of Cash Flows for the three months ended May 2, 2015 reflect the above amounts. The correction is not deemed material to prior period or current period consolidated financial statements. | |
The Company has changed the classification of certain items in its Consolidated Statements of Cash Flows to conform the May 3, 2014 presentation with our 2014 Form 10-K to show approximately $0.9 million of cash outflows related to the purchase and sale of other assets previously reported in operating activities as investing activities. | |
On May 21, 2015, the Board of Directors maintained the quarterly dividend at $0.30 per share. |
Earnings_Per_Share_Notes_to_Fi
Earnings Per Share - Notes to Financial Statements | 3 Months Ended | ||||||||
2-May-15 | |||||||||
Earnings Per Share Disclosure [Abstract] | |||||||||
Earnings Per Share | NOTE 2 - EARNINGS PER SHARE: | ||||||||
ASC 260 – Earnings Per Share requires dual presentation of basic and diluted Earnings Per Share (“EPS”) on the face of all income statements for all entities with complex capital structures. The Company has presented one basic EPS and one diluted EPS amount for all common shares in the accompanying Condensed Consolidated Statements of Income and Comprehensive Income. While the Company's certificate of incorporation provides the right for the Board of Directors to declare dividends on Class A shares without declaration of commensurate dividends on Class B shares, the Company has historically paid the same dividends to both Class A and Class B shareholders and the Board of Directors has resolved to continue this practice. Accordingly, the Company's allocation of income for purposes of the EPS computation is the same for Class A and Class B shares and the EPS amounts reported herein are applicable to both Class A and Class B shares. | |||||||||
Basic EPS is computed as net income less earnings allocated to non-vested equity awards divided by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur from common shares issuable through stock options and the Employee Stock Purchase Plan. | |||||||||
Three Months Ended | |||||||||
2-May-15 | 3-May-14 | ||||||||
(Dollars in thousands) | |||||||||
Numerator | |||||||||
Net earnings | $ | 31,083 | $ | 30,006 | |||||
Earnings allocated to non-vested equity awards | -609 | -509 | |||||||
Net earnings available to common stockholders | $ | 30,474 | $ | 29,497 | |||||
Denominator | |||||||||
Basic weighted average common shares outstanding | 27,369,149 | 28,335,395 | |||||||
Dilutive effect of stock options | 6,081 | 713 | |||||||
Diluted weighted average common shares outstanding | 27,375,230 | 28,336,108 | |||||||
Net income per common share | |||||||||
Basic earnings per share | $ | 1.11 | $ | 1.04 | |||||
Diluted earnings per share | $ | 1.11 | $ | 1.04 |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income | 3 Months Ended | |||||||||||||||||||
2-May-15 | 3-May-14 | |||||||||||||||||||
AccumulatedOtherComprehensiveIncomeLossDisclosure[Abstract] | ||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | NOTE 3 – ACCUMULATED OTHER COMPREHENSIVE INCOME: | Changes in Accumulated Other | ||||||||||||||||||
Comprehensive Income (a) | ||||||||||||||||||||
The following tables set forth information regarding the reclassification out of Accumulated other comprehensive income (in thousands) for the three months ended May 2, 2015: | Unrealized Gains | |||||||||||||||||||
and (Losses) on | ||||||||||||||||||||
Changes in Accumulated Other | Available-for-Sale | |||||||||||||||||||
Comprehensive Income (a) | Securities | |||||||||||||||||||
Unrealized Gains | Beginning Balance at February 1, 2014 | $ | 778 | |||||||||||||||||
and (Losses) on | Other comprehensive income before | |||||||||||||||||||
Available-for-Sale | reclassification | -33 | ||||||||||||||||||
Securities | ||||||||||||||||||||
Beginning Balance at January 31, 2015 | $ | 786 | Amounts reclassified from accumulated | |||||||||||||||||
Other comprehensive income before | other comprehensive income (b) | -18 | ||||||||||||||||||
reclassification | -483 | |||||||||||||||||||
Net current-period other comprehensive income | -51 | |||||||||||||||||||
Amounts reclassified from accumulated | ||||||||||||||||||||
other comprehensive income (b) | 151 | Ending Balance at May 3, 2014 | $ | 727 | ||||||||||||||||
Net current-period other comprehensive income | -332 | (a) All amounts are net-of-tax. Amounts in parentheses indicate a debit/reduction to other comprehensive income ("OCI"). | ||||||||||||||||||
(b) Includes $29 impact of accumulated other comprehensive income reclassifications into Interest and other income for net gains on available-for-sale securities. The tax impact of this reclassification was $11. | ||||||||||||||||||||
Ending Balance at May 2, 2015 | $ | 454 | ||||||||||||||||||
(a) All amounts are net-of-tax. Amounts in parentheses indicate a debit/reduction to other comprehensive income ("OCI"). | ||||||||||||||||||||
(b) Includes ($241) impact of accumulated other comprehensive income reclassifications into Interest and other income for net gains on available-for-sale securities. The tax impact of this reclassification was ($90). |
Financing_Arrangements_Notes_t
Financing Arrangements - Notes to Financial Statements | 3 Months Ended |
2-May-15 | |
Financing Arrangements [Abstract] | |
Financing Arrangements | NOTE 4 – FINANCING ARRANGEMENTS: |
As of May 2, 2015, the Company had an unsecured revolving credit agreement to borrow $35.0 million less the balance of any revocable letters of credit as discussed below. The revolving credit agreement is committed until August 2018. The credit agreement contains various financial covenants and limitations, including the maintenance of specific financial ratios with which the Company was in compliance as of May 2, 2015. There were no borrowings outstanding under this credit facility during the periods ended May 2, 2015, January 31, 2015 or May 3, 2014. The weighted average interest rate under the credit facility was zero at May 2, 2015 due to no borrowings during the year. | |
At May 2, 2015 and January 31, 2015, the Company had no outstanding revocable letters of credit relating to purchase commitments. At May 3, 2014, the Company had approximately $0.6 million of outstanding revocable letters of credit related to purchase commitments. |
Reportable_Segment_Information
Reportable Segment Information - Notes to Financial Statements | 3 Months Ended | |||||
2-May-15 | ||||||
Reportable Segment Information [Abstract] | ||||||
Reportable Segment Information | NOTE 5 – REPORTABLE SEGMENT INFORMATION: | |||||
The Company has determined that it has four operating segments, as defined under ASC 280-10, including Cato, It's Fashion, Versona and Credit. As outlined in ASC 280-10, the Company has two reportable segments: Retail and Credit. The Company has aggregated its three retail operating segments, including e-commerce, based on the aggregation criteria outlined in ASC 280-10, which states that two or more operating segments may be aggregated into a single reportable segment if aggregation is consistent with the objective and basic principles of ASC 280-10, which require the segments have similar economic characteristics, similar product, similar production processes, similar clients and similar methods of distribution. | ||||||
The Company's retail operating segments have similar economic characteristics and similar operating, financial and competitive risks. They are similar in nature of product, as they all offer women's apparel, shoes and accessories. Merchandise inventory for the Company's retail operating segments is sourced from the same countries and some of the same vendors, using similar production processes. Merchandise for the Company's operating segments is distributed to retail stores in a similar manner through the Company's single distribution center and is subsequently distributed to clients in a similar manner. | ||||||
The Company operates its women's fashion specialty retail stores in 32 states as of May 2, 2015, principally in the southeastern United States. The Company offers its own credit card to its customers and all credit authorizations, payment processing and collection efforts are performed by a separate subsidiary of the Company. | ||||||
NOTE 5 – REPORTABLE SEGMENT INFORMATION (CONTINUED): | ||||||
The following schedule summarizes certain segment information (in thousands): | ||||||
Three Months Ended | ||||||
2-May-15 | Retail | Credit | Total | |||
Revenues | $282,493 | $1,406 | $283,899 | |||
Depreciation | 5,362 | 12 | 5,374 | |||
Interest and other income | -568 | - | -568 | |||
Income before taxes | 47,518 | 471 | 47,989 | |||
Total assets | 551,077 | 71,157 | 622,234 | |||
Capital expenditures | 4,579 | - | 4,579 | |||
Three Months Ended | ||||||
3-May-14 | Retail | Credit | Total | |||
Revenues | $283,257 | $1,475 | $284,732 | |||
Depreciation | 5,439 | 13 | 5,452 | |||
Interest and other income | -742 | - | -742 | |||
Income before taxes | 47,690 | 482 | 48,172 | |||
Total assets | 516,613 | 66,624 | 583,237 | |||
Capital expenditures | 4,116 | - | 4,116 | |||
The Company evaluates segment performance based on income before taxes. The Company does not allocate certain corporate expenses or income taxes to the credit segment. | ||||||
The following schedule summarizes the direct expenses of the credit segment which are reflected in selling, general and administrative expenses (in thousands): | ||||||
Three Months Ended | ||||||
2-May-15 | 3-May-14 | |||||
Bad debt expense | $ | 259 | $ | 307 | ||
Payroll | 211 | 206 | ||||
Postage | 191 | 191 | ||||
Other expenses | 262 | 276 | ||||
Total expenses | $ | 923 | $ | 980 |
Stock_Based_Compensation_Notes
Stock Based Compensation - Notes to Financial Statements | 3 Months Ended | |||||||
2-May-15 | ||||||||
[DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract] | ||||||||
Stock Based Compensation | NOTE 6 – STOCK BASED COMPENSATION: | |||||||
As of May 2, 2015, the Company had three long-term compensation plans pursuant to which stock-based compensation was outstanding or could be granted. The Company's 1987 Non-Qualified Stock Option Plan is for the granting of options to officers and key employees. As of May 2, 2015, there were no available stock options for grant. The 2013 Incentive Compensation Plan and 2004 Amended and Restated Incentive Compensation Plan are for the granting of various forms of equity-based awards, including restricted stock and stock options for grant, to officers, directors and key employees. Effective May 23, 2013, shares for grant were no longer available under the 2004 Amended and Restated Incentive Compensation Plan. | ||||||||
The following table presents the number of options and shares of restricted stock initially authorized and available for grant under each of the plans as of May 2, 2015: | ||||||||
1987 | 2004 | 2013 | ||||||
Plan | Plan | Plan | Total | |||||
Options and/or restricted stock initially authorized | 5,850,000 | 1,350,000 | 1,500,000 | 8,700,000 | ||||
Options and/or restricted stock available for grant: | ||||||||
2-May-15 | 0 | 0 | 1,130,609 | 1,130,609 | ||||
In accordance with ASC 718, the fair value of current restricted stock awards is estimated on the date of grant based on the market price of the Company's stock and is amortized to compensation expense on a straight-line basis over the related vesting periods. As of May 2, 2015, January 31, 2015 and May 3, 2014, there was $15,683,000, $10,357,000 and $13,318,000 of total unrecognized compensation expense related to nonvested restricted stock awards, which had a remaining weighted-average vesting period of 3.4 years, 2.6 years and 3.4 years, respectively. The total fair value of the shares recognized as compensation expense during the three months ended May 2, 2015 was $621,000 compared to $506,000 for the three months ended May 3, 2014. These expenses are classified as a component of Selling, general and administrative expenses (exclusive of depreciation) in the Condensed Consolidated Statements of Income. | ||||||||
The following summary shows the changes in the shares of unvested restricted stock outstanding during the three months ended May 2, 2015: | ||||||||
Weighted Average | ||||||||
Number of | Grant Date Fair | |||||||
Shares | Value Per Share | |||||||
Restricted stock awards at January 31, 2015 | 552,495 | $ | 26.19 | |||||
Granted | 159,596 | 39.6 | ||||||
Vested | -87,130 | 26.03 | ||||||
Forfeited or expired | -8,273 | 26.16 | ||||||
Restricted stock awards at May 2, 2015 | 616,688 | $ | 29.68 | |||||
The Company's Employee Stock Purchase Plan allows eligible full-time employees to purchase a limited number of shares of the Company's Class A Common Stock during each semi-annual offering period at a 15% discount through payroll deductions. During the three months ended May 2, 2015 and May 3, 2014, the Company sold 7,763 and 11,286 shares to employees at an average discount of $5.34 and $4.06 per share, respectively, under the Employee Stock Purchase Plan. The compensation expense recognized for the 15% discount given under the Employee Stock Purchase Plan was approximately $41,000 and $46,000 for the three months ended May 2, 2015 and May 3, 2014, respectively. These expenses are classified as a component of Selling, general and administrative expenses. |
Fair_Value_Measurements_Notes_
Fair Value Measurements - Notes to Financial Statements | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
2-May-15 | 3-May-14 | Jan. 31, 2015 | ||||||||||||||||||||||||||||||||||||
Fair Value Measurements [Abstract] | ||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures Text Block | NOTE 7 – FAIR VALUE MEASUREMENTS: | Quoted | Quoted | |||||||||||||||||||||||||||||||||||
Prices in | Prices in | |||||||||||||||||||||||||||||||||||||
The following tables set forth information regarding the Company's financial assets that are measured at fair value (in thousands) as of May 2, 2015, January 31, 2015 and May 3, 2014. | Active | Significant | Active | Significant | ||||||||||||||||||||||||||||||||||
Quoted | Markets for | Other | Significant | Markets for | Other | Significant | ||||||||||||||||||||||||||||||||
Prices in | Identical | Observable | Unobservable | Identical | Observable | Unobservable | ||||||||||||||||||||||||||||||||
Active | Significant | 3-May-14 | Assets | Inputs | Inputs | 31-Jan-15 | Assets | Inputs | Inputs | |||||||||||||||||||||||||||||
Markets for | Other | Significant | Description | Level 1 | Level 2 | Level 3 | Description | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||
Identical | Observable | Unobservable | Assets: | |||||||||||||||||||||||||||||||||||
2-May-15 | Assets | Inputs | Inputs | Assets: | State/Municipal Bonds | $ | 148,650 | $ | - | $ | 148,650 | $ | - | |||||||||||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | State/Municipal Bonds | $ | 155,428 | $ | - | $ | 155,428 | $ | - | Corporate Bonds | 14,052 | - | 14,052 | - | |||||||||||||||||||||
Assets: | Corporate Bonds | 4,598 | - | 4,598 | - | U.S. Treasury Notes | 3,758 | 3,758 | - | - | ||||||||||||||||||||||||||||
State/Municipal Bonds | $ | 162,663 | $ | - | $ | 162,663 | $ | - | Auction Rate Securities (ARS) | 3,140 | - | - | 3,140 | Cash Surrender Value of Life Insurance | 4,558 | - | - | 4,558 | ||||||||||||||||||||
Corporate Bonds | 15,036 | - | 15,036 | - | U.S. Treasury Notes | 1,503 | 1,503 | - | - | Privately Managed Funds | 306 | - | - | 306 | ||||||||||||||||||||||||
U.S. Treasury Notes | 1,954 | 1,954 | - | - | Cash Surrender Value of Life Insurance | 3,568 | - | - | 3,568 | Corporate Equities | 613 | 613 | - | - | ||||||||||||||||||||||||
Cash Surrender Value of Life Insurance | 4,773 | - | - | 4,773 | Privately Managed Funds | 358 | - | - | 358 | Certificates of Deposit | 100 | 100 | - | - | ||||||||||||||||||||||||
Privately Managed Funds | 39 | - | - | 39 | Corporate Equities | 595 | 595 | - | - | Total Assets | $ | 172,037 | $ | 4,471 | $ | 162,702 | $ | 4,864 | ||||||||||||||||||||
Corporate Equities | 654 | 654 | - | - | Certificates of Deposit | 100 | 100 | - | - | |||||||||||||||||||||||||||||
Certificates of Deposit | 100 | 100 | - | - | Total Assets | $ | 169,290 | $ | 2,198 | $ | 160,026 | $ | 7,066 | Liabilities: | ||||||||||||||||||||||||
Total Assets | $ | 185,219 | $ | 2,708 | $ | 177,699 | $ | 4,812 | Deferred Compensation | -4,272 | - | - | -4,272 | |||||||||||||||||||||||||
Liabilities: | Total Liabilities | $ | -4,272 | $ | - | $ | - | $ | -4,272 | |||||||||||||||||||||||||||||
Liabilities: | Deferred Compensation | -3,852 | - | - | -3,852 | |||||||||||||||||||||||||||||||||
Deferred Compensation | -4,420 | - | - | -4,420 | Total Liabilities | $ | -3,852 | $ | - | $ | - | $ | -3,852 | |||||||||||||||||||||||||
Total Liabilities | $ | -4,420 | $ | - | $ | - | $ | -4,420 | ||||||||||||||||||||||||||||||
The Company's investment portfolio was primarily invested in corporate bonds and tax-exempt and taxable governmental debt securities held in managed accounts with underlying ratings of A or better at May 2, 2015, January 31, 2015 and May 3, 2014. The state, municipal and corporate bonds have contractual maturities which range from 13 days to 18.2 years. The U.S. Treasury Notes and Certificates of Deposit have contractual maturities which range from 2 months to 1.9 years. These securities are classified as available-for-sale and are recorded as Short-term investments, Restricted cash and investments and Other assets on the accompanying Condensed Consolidated Balance Sheets. These assets are carried at fair value with unrealized gains and losses reported net of taxes in Accumulated other comprehensive income. | ||||||||||||||||||||||||||||||||||||||
Additionally, at May 2, 2015, the Company had $0.7 million of corporate equities and deferred compensation plan assets of $4.8 million. At January 31, 2015, the Company had $0.3 million of privately managed funds, $0.6 million of corporate equities, and deferred compensation plan assets of $4.6 million. At May 3, 2014, the Company had $0.4 million of privately managed funds, a single auction rate security (“ARS”) of $3.1 million which was redeemed at par in the fourth quarter 2014, $0.6 million of corporate equities and deferred compensation plan assets of $3.6 million. All of these assets are recorded within Other assets in the Condensed Consolidated Balance Sheets. | ||||||||||||||||||||||||||||||||||||||
Level 1 category securities are measured at fair value using quoted active market prices. Level 2 investment securities include corporate and municipal bonds for which quoted prices may not be available on active exchanges for identical instruments. Their fair value is principally based on market values determined by management with assistance of a third-party pricing service. Since quoted prices in active markets for identical assets are not available, these prices are determined by the pricing service using observable market information such as quotes from less active markets and/or quoted prices of securities with similar characteristics, among other factors. | ||||||||||||||||||||||||||||||||||||||
The Company's privately managed funds consist of two types of funds. The privately managed funds cannot be redeemed at net asset value at a specific date without advance notice. As a result, the Company has classified the investments as Level 3. | ||||||||||||||||||||||||||||||||||||||
Deferred compensation plan assets consist of life insurance policies. These life insurance policies are valued based on the cash surrender value of the insurance contract, which is determined based on such factors as the fair value of the underlying assets and discounted cash flow and are therefore classified within Level 3 of the valuation hierarchy. The Level 3 liability associated with the life insurance policies represents a deferred compensation obligation, the value of which is tracked via underlying insurance funds. These funds are designed to mirror existing mutual funds and money market funds that are observable and actively traded. Cash surrender values are provided by third-parties and reviewed for reasonableness by the Company. | ||||||||||||||||||||||||||||||||||||||
The following tables summarize the change in fair value of the Company's financial assets measured using Level 3 inputs as of May 2, 2015 and May 3, 2014 (dollars in thousands): | ||||||||||||||||||||||||||||||||||||||
Fair Value Measurements Using Significant | ||||||||||||||||||||||||||||||||||||||
Unobservable Asset Inputs (Level 3) | ||||||||||||||||||||||||||||||||||||||
Available-For-Sale | Cash | |||||||||||||||||||||||||||||||||||||
Debt Securities | Other Investments | Surrender | ||||||||||||||||||||||||||||||||||||
ARS | Private Equity | Value | Total | |||||||||||||||||||||||||||||||||||
Beginning Balance at January 31, 2015 | $ | - | $ | 306 | $ | 4,558 | $ | 4,865 | ||||||||||||||||||||||||||||||
Redemptions | - | -246 | - | -246 | ||||||||||||||||||||||||||||||||||
Additions | - | - | - | - | ||||||||||||||||||||||||||||||||||
Total gains or (losses) | ||||||||||||||||||||||||||||||||||||||
Included in interest and other | ||||||||||||||||||||||||||||||||||||||
income (or changes in net assets) | - | - | 215 | 215 | ||||||||||||||||||||||||||||||||||
Included in other comprehensive income | - | -21 | - | -21 | ||||||||||||||||||||||||||||||||||
Ending Balance at May 2, 2015 | $ | 0 | $ | 39 | $ | 4,773 | $ | 4,812 | ||||||||||||||||||||||||||||||
Fair Value Measurements Using Significant | ||||||||||||||||||||||||||||||||||||||
Unobservable Liability Inputs (Level 3) | ||||||||||||||||||||||||||||||||||||||
Deferred | ||||||||||||||||||||||||||||||||||||||
Compensation | Total | |||||||||||||||||||||||||||||||||||||
Beginning Balance at January 31, 2015 | $ | -4,272 | $ | -4,272 | ||||||||||||||||||||||||||||||||||
Redemptions | 47 | 47 | ||||||||||||||||||||||||||||||||||||
Additions | - | - | ||||||||||||||||||||||||||||||||||||
Total (gains) or losses | ||||||||||||||||||||||||||||||||||||||
Included in interest and other | ||||||||||||||||||||||||||||||||||||||
income (or changes in net assets) | -195 | -195 | ||||||||||||||||||||||||||||||||||||
Included in other comprehensive income | - | - | ||||||||||||||||||||||||||||||||||||
Ending Balance at May 2, 2015 | $ | -4,420 | $ | -4,420 | ||||||||||||||||||||||||||||||||||
Fair Value Measurements Using Significant | ||||||||||||||||||||||||||||||||||||||
Unobservable Asset Inputs (Level 3) | ||||||||||||||||||||||||||||||||||||||
Available-For-Sale | Cash | |||||||||||||||||||||||||||||||||||||
Debt Securities | Other Investments | Surrender | ||||||||||||||||||||||||||||||||||||
ARS | Private Equity | Value | Total | |||||||||||||||||||||||||||||||||||
Beginning Balance at February 1, 2014 | $ | 3,140 | $ | 392 | $ | 2,957 | $ | 6,489 | ||||||||||||||||||||||||||||||
Redemptions | - | -42 | - | -42 | ||||||||||||||||||||||||||||||||||
Additions | 519 | 519 | ||||||||||||||||||||||||||||||||||||
Total gains or (losses) | ||||||||||||||||||||||||||||||||||||||
Included in interest and other | ||||||||||||||||||||||||||||||||||||||
income (or changes in net assets) | - | 1 | 92 | 93 | ||||||||||||||||||||||||||||||||||
Included in other comprehensive income | - | 7 | - | 7 | ||||||||||||||||||||||||||||||||||
Ending Balance at May 3, 2014 | $ | 3,140 | $ | 358 | $ | 3,568 | $ | 7,066 | ||||||||||||||||||||||||||||||
Fair Value Measurements Using Significant | ||||||||||||||||||||||||||||||||||||||
Unobservable Liability Inputs (Level 3) | ||||||||||||||||||||||||||||||||||||||
Deferred | ||||||||||||||||||||||||||||||||||||||
Compensation | Total | |||||||||||||||||||||||||||||||||||||
Beginning Balance at February 1, 2014 | $ | -3,298 | $ | -3,298 | ||||||||||||||||||||||||||||||||||
Redemptions | - | - | ||||||||||||||||||||||||||||||||||||
Additions | -345 | -345 | ||||||||||||||||||||||||||||||||||||
Total (gains) or losses | ||||||||||||||||||||||||||||||||||||||
Included in interest and other | ||||||||||||||||||||||||||||||||||||||
income (or changes in net assets) | -209 | -209 | ||||||||||||||||||||||||||||||||||||
Ending Balance at May 3, 2014 | $ | -3,852 | $ | -3,852 | ||||||||||||||||||||||||||||||||||
Quantitative information regarding the significant unobservable inputs related to the ARS as of May 3, 2014 were as follows: | ||||||||||||||||||||||||||||||||||||||
3-May-14 | ||||||||||||||||||||||||||||||||||||||
Fair Value | Valuation Technique | Unobservable Inputs | ||||||||||||||||||||||||||||||||||||
$3,140 | Net present value | Total Term | 8.4 Years | |||||||||||||||||||||||||||||||||||
of cash flows | Yield | 0.18% | ||||||||||||||||||||||||||||||||||||
Comparative bond discount rate | 0.14% | |||||||||||||||||||||||||||||||||||||
The Company's investment portfolio was primarily invested in corporate bonds and tax-exempt and taxable governmental debt securities held in managed accounts with underlying ratings of A or better at May 2, 2015, January 31, 2015 and May 3, 2014. The state, municipal and corporate bonds have contractual maturities which range from 13 days to 18.2 years. The U.S. Treasury Notes and Certificates of Deposit have contractual maturities which range from 2 months to 1.9 years. These securities are classified as available-for-sale and are recorded as Short-term investments, Restricted cash and investments and Other assets on the accompanying Condensed Consolidated Balance Sheets. These assets are carried at fair value with unrealized gains and losses reported net of taxes in Accumulated other comprehensive income. | ||||||||||||||||||||||||||||||||||||||
Additionally, at May 2, 2015, the Company had $0.7 million of corporate equities and deferred compensation plan assets of $4.8 million. At January 31, 2015, the Company had $0.3 million of privately managed funds, $0.6 million of corporate equities, and deferred compensation plan assets of $4.6 million. At May 3, 2014, the Company had $0.4 million of privately managed funds, a single auction rate security (“ARS”) of $3.1 million which was redeemed at par in the fourth quarter 2014, $0.6 million of corporate equities and deferred compensation plan assets of $3.6 million. All of these assets are recorded within Other assets in the Condensed Consolidated Balance Sheets. | ||||||||||||||||||||||||||||||||||||||
Level 1 category securities are measured at fair value using quoted active market prices. Level 2 investment securities include corporate and municipal bonds for which quoted prices may not be available on active exchanges for identical instruments. Their fair value is principally based on market values determined by management with assistance of a third-party pricing service. Since quoted prices in active markets for identical assets are not available, these prices are determined by the pricing service using observable market information such as quotes from less active markets and/or quoted prices of securities with similar characteristics, among other factors. | ||||||||||||||||||||||||||||||||||||||
The Company's privately managed funds consist of two types of funds. The privately managed funds cannot be redeemed at net asset value at a specific date without advance notice. As a result, the Company has classified the investments as Level 3. | ||||||||||||||||||||||||||||||||||||||
Deferred compensation plan assets consist of life insurance policies. These life insurance policies are valued based on the cash surrender value of the insurance contract, which is determined based on such factors as the fair value of the underlying assets and discounted cash flow and are therefore classified within Level 3 of the valuation hierarchy. The Level 3 liability associated with the life insurance policies represents a deferred compensation obligation, the value of which is tracked via underlying insurance funds. These funds are designed to mirror existing mutual funds and money market funds that are observable and actively traded. Cash surrender values are provided by third-parties and reviewed for reasonableness by the Company. | ||||||||||||||||||||||||||||||||||||||
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements - Notes to Financial Statements | 3 Months Ended |
2-May-15 | |
Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements | In May 2014, the Financial Accounting Standards Board issued an accounting standards update that will supersede most current revenue recognition guidance and modify the accounting treatment for certain costs associated with revenue generation. The core principle of the revised revenue recognition standard is that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services, and provides several steps to apply to achieve that principle. In addition, the new guidance enhances disclosure requirements to include more information about specific revenue contracts entered into by the entity. The standard is effective for the Company's first quarter of its 2018 fiscal year; early adoption is permitted as of the original effective date. The Company is assessing what impacts this new standard will have on its Consolidated Financial Statements. |
In May 2014, the Financial Accounting Standards Board issued an accounting standards update that will supersede most current revenue recognition guidance and modify the accounting treatment for certain costs associated with revenue generation. The core principle of the revised revenue recognition standard is that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services, and provides several steps to apply to achieve that principle. In addition, the new guidance enhances disclosure requirements to include more information about specific revenue contracts entered into by the entity. The standard is effective for the Company's first quarter of its 2018 fiscal year; early adoption is permitted as of the original effective date. The Company is assessing what impacts this new standard will have on its Consolidated Financial Statements. | |
Earnings_Per_Share_Tables
Earnings Per Share - (Tables) | 3 Months Ended | ||||||||
2-May-15 | |||||||||
Earnings Per Share Disclosure [Abstract] | |||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended | ||||||||
2-May-15 | 3-May-14 | ||||||||
(Dollars in thousands) | |||||||||
Numerator | |||||||||
Net earnings | $ | 31,083 | $ | 30,006 | |||||
Earnings allocated to non-vested equity awards | -609 | -509 | |||||||
Net earnings available to common stockholders | $ | 30,474 | $ | 29,497 | |||||
Denominator | |||||||||
Basic weighted average common shares outstanding | 27,369,149 | 28,335,395 | |||||||
Dilutive effect of stock options | 6,081 | 713 | |||||||
Diluted weighted average common shares outstanding | 27,375,230 | 28,336,108 | |||||||
Net income per common share | |||||||||
Basic earnings per share | $ | 1.11 | $ | 1.04 | |||||
Diluted earnings per share | $ | 1.11 | $ | 1.04 |
Changes_in_Accumulated_Other_C
Changes in Accumulated Other Comprehensive Income (Tables) | 3 Months Ended | |||||||||||||||||||
2-May-15 | 3-May-14 | |||||||||||||||||||
AccumulatedOtherComprehensiveIncomeLossDisclosure[Abstract] | ||||||||||||||||||||
Schedule Of Accumulated Other Comprehensive Income Loss Table Text Block | Changes in Accumulated Other | Changes in Accumulated Other | ||||||||||||||||||
Comprehensive Income (a) | Comprehensive Income (a) | |||||||||||||||||||
Unrealized Gains | Unrealized Gains | |||||||||||||||||||
and (Losses) on | and (Losses) on | |||||||||||||||||||
Available-for-Sale | Available-for-Sale | |||||||||||||||||||
Securities | Securities | |||||||||||||||||||
Beginning Balance at January 31, 2015 | $ | 786 | Beginning Balance at February 1, 2014 | $ | 778 | |||||||||||||||
Other comprehensive income before | Other comprehensive income before | |||||||||||||||||||
reclassification | -483 | reclassification | -33 | |||||||||||||||||
Amounts reclassified from accumulated | Amounts reclassified from accumulated | |||||||||||||||||||
other comprehensive income (b) | 151 | other comprehensive income (b) | -18 | |||||||||||||||||
Net current-period other comprehensive income | -332 | Net current-period other comprehensive income | -51 | |||||||||||||||||
Ending Balance at May 2, 2015 | $ | 454 | Ending Balance at May 3, 2014 | $ | 727 | |||||||||||||||
(a) All amounts are net-of-tax. Amounts in parentheses indicate a debit/reduction to other comprehensive income ("OCI"). | (a) All amounts are net-of-tax. Amounts in parentheses indicate a debit/reduction to other comprehensive income ("OCI"). | |||||||||||||||||||
(b) Includes ($241) impact of accumulated other comprehensive income reclassifications into Interest and other income for net gains on available-for-sale securities. The tax impact of this reclassification was ($90). | (b) Includes $29 impact of accumulated other comprehensive income reclassifications into Interest and other income for net gains on available-for-sale securities. The tax impact of this reclassification was $11. |
Reportable_Segment_Information1
Reportable Segment Information - (Tables) | 3 Months Ended | |||||
2-May-15 | ||||||
Reportable Segment Information [Abstract] | ||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended | |||||
2-May-15 | Retail | Credit | Total | |||
Revenues | $282,493 | $1,406 | $283,899 | |||
Depreciation | 5,362 | 12 | 5,374 | |||
Interest and other income | -568 | - | -568 | |||
Income before taxes | 47,518 | 471 | 47,989 | |||
Total assets | 551,077 | 71,157 | 622,234 | |||
Capital expenditures | 4,579 | - | 4,579 | |||
Three Months Ended | ||||||
3-May-14 | Retail | Credit | Total | |||
Revenues | $283,257 | $1,475 | $284,732 | |||
Depreciation | 5,439 | 13 | 5,452 | |||
Interest and other income | -742 | - | -742 | |||
Income before taxes | 47,690 | 482 | 48,172 | |||
Total assets | 516,613 | 66,624 | 583,237 | |||
Capital expenditures | 4,116 | - | 4,116 | |||
Three Months Ended | ||||||
2-May-15 | 3-May-14 | |||||
Bad debt expense | $ | 259 | $ | 307 | ||
Payroll | 211 | 206 | ||||
Postage | 191 | 191 | ||||
Other expenses | 262 | 276 | ||||
Total expenses | $ | 923 | $ | 980 |
Stock_Based_Compensation_Plans
Stock Based Compensation - Plans (Tables) | 3 Months Ended | |||||||
2-May-15 | ||||||||
[DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract] | ||||||||
Stock Based Compensation Plans | 1987 | 2004 | 2013 | |||||
Plan | Plan | Plan | Total | |||||
Options and/or restricted stock initially authorized | 5,850,000 | 1,350,000 | 1,500,000 | 8,700,000 | ||||
Options and/or restricted stock available for grant: | ||||||||
2-May-15 | 0 | 0 | 1,130,609 | 1,130,609 |
Sechedule_Of_Restricted_Stock_
Sechedule Of Restricted Stock Outstanding - (Tables) | 3 Months Ended | ||||
2-May-15 | |||||
[DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract] | |||||
Schedule Of Changes In Restricted Stock Outstanding | Weighted Average | ||||
Number of | Grant Date Fair | ||||
Shares | Value Per Share | ||||
Restricted stock awards at January 31, 2015 | 552,495 | $ | 26.19 | ||
Granted | 159,596 | 39.6 | |||
Vested | -87,130 | 26.03 | |||
Forfeited or expired | -8,273 | 26.16 | |||
Restricted stock awards at May 2, 2015 | 616,688 | $ | 29.68 |
Fair_Value_Measurements_Assets
Fair Value Measurements - Assets at Fairvalue - (Tables) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
2-May-15 | 3-May-14 | Jan. 31, 2015 | ||||||||||||||||||||||||||||||||||||
Fair Value Measurements [Abstract] | ||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures | Quoted | Quoted | Quoted | |||||||||||||||||||||||||||||||||||
Prices in | Prices in | Prices in | ||||||||||||||||||||||||||||||||||||
Active | Significant | Active | Significant | Active | Significant | |||||||||||||||||||||||||||||||||
Markets for | Other | Significant | Markets for | Other | Significant | Markets for | Other | Significant | ||||||||||||||||||||||||||||||
Identical | Observable | Unobservable | Identical | Observable | Unobservable | Identical | Observable | Unobservable | ||||||||||||||||||||||||||||||
2-May-15 | Assets | Inputs | Inputs | 3-May-14 | Assets | Inputs | Inputs | 31-Jan-15 | Assets | Inputs | Inputs | |||||||||||||||||||||||||||
Description | Level 1 | Level 2 | Level 3 | Description | Level 1 | Level 2 | Level 3 | Description | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||
Assets: | Assets: | |||||||||||||||||||||||||||||||||||||
State/Municipal Bonds | $ | 162,663 | $ | - | $ | 162,663 | $ | - | Assets: | State/Municipal Bonds | $ | 148,650 | $ | - | $ | 148,650 | $ | - | ||||||||||||||||||||
Corporate Bonds | 15,036 | - | 15,036 | - | State/Municipal Bonds | $ | 155,428 | $ | - | $ | 155,428 | $ | - | Corporate Bonds | 14,052 | - | 14,052 | - | ||||||||||||||||||||
U.S. Treasury Notes | 1,954 | 1,954 | - | - | Corporate Bonds | 4,598 | - | 4,598 | - | U.S. Treasury Notes | 3,758 | 3,758 | - | - | ||||||||||||||||||||||||
Cash Surrender Value of Life Insurance | 4,773 | - | - | 4,773 | Auction Rate Securities (ARS) | 3,140 | - | - | 3,140 | Cash Surrender Value of Life Insurance | 4,558 | - | - | 4,558 | ||||||||||||||||||||||||
Privately Managed Funds | 39 | - | - | 39 | U.S. Treasury Notes | 1,503 | 1,503 | - | - | Privately Managed Funds | 306 | - | - | 306 | ||||||||||||||||||||||||
Corporate Equities | 654 | 654 | - | - | Cash Surrender Value of Life Insurance | 3,568 | - | - | 3,568 | Corporate Equities | 613 | 613 | - | - | ||||||||||||||||||||||||
Certificates of Deposit | 100 | 100 | - | - | Privately Managed Funds | 358 | - | - | 358 | Certificates of Deposit | 100 | 100 | - | - | ||||||||||||||||||||||||
Total Assets | $ | 185,219 | $ | 2,708 | $ | 177,699 | $ | 4,812 | Corporate Equities | 595 | 595 | - | - | Total Assets | $ | 172,037 | $ | 4,471 | $ | 162,702 | $ | 4,864 | ||||||||||||||||
Certificates of Deposit | 100 | 100 | - | - | ||||||||||||||||||||||||||||||||||
Liabilities: | Total Assets | $ | 169,290 | $ | 2,198 | $ | 160,026 | $ | 7,066 | Liabilities: | ||||||||||||||||||||||||||||
Deferred Compensation | -4,420 | - | - | -4,420 | Deferred Compensation | -4,272 | - | - | -4,272 | |||||||||||||||||||||||||||||
Total Liabilities | $ | -4,420 | $ | - | $ | - | $ | -4,420 | Liabilities: | Total Liabilities | $ | -4,272 | $ | - | $ | - | $ | -4,272 | ||||||||||||||||||||
Deferred Compensation | -3,852 | - | - | -3,852 | ||||||||||||||||||||||||||||||||||
Total Liabilities | $ | -3,852 | $ | - | $ | - | $ | -3,852 |
Fair_Value_Measurments_Level_3
Fair Value Measurments - Level 3 Roll (Tables) | 3 Months Ended | |||||||||||
2-May-15 | ||||||||||||
Fair Value Measurements [Abstract] | ||||||||||||
Level 3 Reconciliation | Fair Value Measurements Using Significant | |||||||||||
Unobservable Asset Inputs (Level 3) | ||||||||||||
Available-For-Sale | Cash | |||||||||||
Debt Securities | Other Investments | Surrender | ||||||||||
ARS | Private Equity | Value | Total | |||||||||
Beginning Balance at January 31, 2015 | $ | - | $ | 306 | $ | 4,558 | $ | 4,865 | ||||
Redemptions | - | -246 | - | -246 | ||||||||
Additions | - | - | - | - | ||||||||
Total gains or (losses) | ||||||||||||
Included in interest and other | ||||||||||||
income (or changes in net assets) | - | - | 215 | 215 | ||||||||
Included in other comprehensive income | - | -21 | - | -21 | ||||||||
Ending Balance at May 2, 2015 | $ | 0 | $ | 39 | $ | 4,773 | $ | 4,812 | ||||
Fair Value Measurements Using Significant | ||||||||||||
Unobservable Liability Inputs (Level 3) | ||||||||||||
Deferred | ||||||||||||
Compensation | Total | |||||||||||
Beginning Balance at January 31, 2015 | $ | -4,272 | $ | -4,272 | ||||||||
Redemptions | 47 | 47 | ||||||||||
Additions | - | - | ||||||||||
Total (gains) or losses | ||||||||||||
Included in interest and other | ||||||||||||
income (or changes in net assets) | -195 | -195 | ||||||||||
Included in other comprehensive income | - | - | ||||||||||
Ending Balance at May 2, 2015 | $ | -4,420 | $ | -4,420 | ||||||||
Fair Value Measurements Using Significant | ||||||||||||
Unobservable Asset Inputs (Level 3) | ||||||||||||
Available-For-Sale | Cash | |||||||||||
Debt Securities | Other Investments | Surrender | ||||||||||
ARS | Private Equity | Value | Total | |||||||||
Beginning Balance at February 1, 2014 | $ | 3,140 | $ | 392 | $ | 2,957 | $ | 6,489 | ||||
Redemptions | - | -42 | - | -42 | ||||||||
Additions | 519 | 519 | ||||||||||
Total gains or (losses) | ||||||||||||
Included in interest and other | ||||||||||||
income (or changes in net assets) | - | 1 | 92 | 93 | ||||||||
Included in other comprehensive income | - | 7 | - | 7 | ||||||||
Ending Balance at May 3, 2014 | $ | 3,140 | $ | 358 | $ | 3,568 | $ | 7,066 | ||||
Fair Value Measurements Using Significant | ||||||||||||
Unobservable Liability Inputs (Level 3) | ||||||||||||
Deferred | ||||||||||||
Compensation | Total | |||||||||||
Beginning Balance at February 1, 2014 | $ | -3,298 | $ | -3,298 | ||||||||
Redemptions | - | - | ||||||||||
Additions | -345 | -345 | ||||||||||
Total (gains) or losses | ||||||||||||
Included in interest and other | ||||||||||||
income (or changes in net assets) | -209 | -209 | ||||||||||
Ending Balance at May 3, 2014 | $ | -3,852 | $ | -3,852 |
Fair_Value_Level_3_Inputs_Tabl
Fair Value Level 3 Inputs (Tables) | 3 Months Ended | |||||||
2-May-15 | ||||||||
Fair Value Inputs Quantitative Information [Abstract] | ||||||||
Fair Value Level 3 Inputs | Quantitative information regarding the significant unobservable inputs related to the ARS as of May 3, 2014 were as follows: | |||||||
3-May-14 | ||||||||
Fair Value | Valuation Technique | Unobservable Inputs | ||||||
$3,140 | Net present value | Total Term | 8.4 Years | |||||
of cash flows | Yield | 0.18% | ||||||
Comparative bond discount rate | 0.14% | |||||||
General_Notes_to_Financial_Sta1
General - Notes to Financial Statements - (Details) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | 2-May-15 | 3-May-14 |
General Dsiclosure [Abstract] | ||
Quarterly Declared Dividend | $0.30 | $0.30 |
Repurchase of common stock | $547 | $39,681 |
Net income | 31,083 | 30,006 |
Dividends paid | $8,374 | $8,748 |
Earnings_Per_Share_Details
Earnings Per Share - (Details) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | 2-May-15 | 3-May-14 |
Earnings Per Share Disclosure [Abstract] | ||
Net income | $31,083 | $30,006 |
Earnings Allocated to Non-Vesting Equity Awards | -609 | -509 |
Net Income (Loss) Available to Common Stockholders | $30,474 | $29,497 |
Basic Weighted-Average common shares outstanding | 27,369,149 | 28,335,395 |
Dilutive Effect of Stock Options | 6,081 | 713 |
Dilluted Weighted Average Common Shares Outstanding | 27,375,230 | 28,336,108 |
Basic earnings per share | $1.11 | $1.04 |
Diluted earnings per share | $1.11 | $1.04 |
Changes_in_Accumulated_Other_C1
Changes in Accumulated Other Comprehensive Income (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | 2-May-15 | 3-May-14 |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||
Beginning Balance Accumulated other comprehensive income, net of tax | $786 | |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax | -33 | |
Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax | -18 | |
Unrealized gain on available-for-sale securities, net of deferred income taxes | -332 | -51 |
Ending Balance Accumulated other comprehensive income, net of tax | 454 | 727 |
ChangeInUnrealizedGainsOnAvailableForSaleSecuritiesMember [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||
Beginning Balance Accumulated other comprehensive income, net of tax | 778 | |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax | -483 | |
Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax | 151 | |
Unrealized gain on available-for-sale securities, net of deferred income taxes | -332 | -51 |
Ending Balance Accumulated other comprehensive income, net of tax | $727 |
Changes_in_Accumulated_Other_C2
Changes in Accumulated Other Comprehensive Income Components - (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | 2-May-15 | 3-May-14 |
ReclassificationAdjustmentOutOfAccumulatedOtherComprehensiveIncomeLineItems | ||
Income Tax Benefit (Expense) | $16,906 | $18,166 |
Reclassified Accumulated Unrealized Gains and Losses | ||
ReclassificationAdjustmentOutOfAccumulatedOtherComprehensiveIncomeLineItems | ||
Interest and Other Income | -241 | 29 |
Income Tax Benefit (Expense) | ($90) | $11 |
Financing_Arrangements_Details
Financing Arrangements - (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | 2-May-15 | 3-May-14 | Jan. 31, 2015 |
Letter of Credit [Member] | |||
Line of Credit Facility [Line Items] | |||
Line of Credit Facility Outstanding Borrowings | $0 | $625 | $0 |
RevolvingCreditFacilityMember [Member] | |||
Line of Credit Facility [Line Items] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 35,000 | ||
Line of Credit Facility Outstanding Borrowings | $0 | ||
Line of Credit Facility, Expiration Date | 22-Aug-18 |
Reportable_Segment_Information2
Reportable Segment Information - (Details) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | 2-May-15 | 3-May-14 | Jan. 31, 2015 |
Segment Reporting Information [Line Items] | |||
Total revenues | $283,899 | $284,732 | |
Depreciation | 5,374 | 5,452 | |
Interest and other income | 568 | 742 | |
Total Assets | 622,234 | 583,237 | 608,278 |
Capital expenditures | 4,579 | 7,423 | |
Income Before Taxes | 47,989 | 48,172 | |
ReportableSegmentsMemberRetail [Member] | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 282,493 | 283,257 | |
Depreciation | 5,362 | 5,439 | |
Interest and other income | -568 | -742 | |
Total Assets | 551,077 | 516,613 | |
Capital expenditures | 4,579 | 4,116 | |
Income Before Taxes | 47,518 | 47,690 | |
ReportableSegmentsMemberCredit [Member] | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 1,406 | 1,475 | |
Depreciation | 12 | 13 | |
Interest and other income | 0 | 0 | |
Total Assets | 71,157 | 66,624 | |
Capital expenditures | 0 | 0 | |
Income Before Taxes | $471 | $482 |
Direct_Expenses_of_Credit_Segm
Direct Expenses of Credit Segment in SGA - (Details) (ReportableSegmentsMemberCredit [Member], USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | 2-May-15 | 3-May-14 |
ReportableSegmentsMemberCredit [Member] | ||
Direct Expenses Reflected in Selling, General and Administrative Expenses | ||
Labor and Related Expense | $211 | $206 |
Postage Expense | 191 | 191 |
Other Expenses | $262 | $276 |
Stock_Based_Compensation_Plans1
Stock Based Compensation - Plans - (Details) | 2-May-15 |
1987 Plan | |
Restricted Shares Authorized And Available For Grant | |
Options And/Or Restrcited Stock Initially Authorized | 5,850,000 |
Options And Or Restricted Stock Available For Grant | 0 |
2004 Plan | |
Restricted Shares Authorized And Available For Grant | |
Options And/Or Restrcited Stock Initially Authorized | 1,350,000 |
Options And Or Restricted Stock Available For Grant | 0 |
2013 Plan | |
Restricted Shares Authorized And Available For Grant | |
Options And/Or Restrcited Stock Initially Authorized | 1,500,000 |
Options And Or Restricted Stock Available For Grant | 1,130,609 |
Sechedule_Of_Restricted_Stock_1
Sechedule Of Restricted Stock Outstanding - (Details) (2004 Plan, Restricted Stock, Class A Common Stock, USD $) | 3 Months Ended |
2-May-15 | |
2004 Plan | Restricted Stock | Class A Common Stock | |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested [Roll Forward] | |
Restricted Stock Awards Beginning Balance | 552,495 |
Restricted Stock Awards Granted | 159,596 |
Restricted Stock Awards Vested | -87,130 |
Restricted Stock Awards Foreited | -8,273 |
Restricted Stock Awards Ending Balance | 616,688 |
Share Based Compensation Arrangement By Share Based Payment Award Equity InstrumentsOtherThan Options Nonvested Weighted Average Grant Date Fair Value | |
Restricted Stock Awards Weighted Average Grant Date Fair Value Per Share - Beginning Balance | $26.19 |
Granted Restricted Stock Awards Weighted Average Grant Date Fair Value Per Share | $39.60 |
Vested Restricted Stock Awards Weighted Average Grant Date Fair Value Per Share | $26.03 |
Forfeited Restricted Stock Awards Weighted Average Grant Date Fair Value Per Share | $26.16 |
Restricted Stock Awards Weighted Average Grant Date Fair Value Per Share - Ending Balance | $29.68 |
Stock_Based_Compensation_Addit
Stock Based Compensation Additional - (Details) (Class A Common Stock, USD $) | 3 Months Ended | 12 Months Ended | |
2-May-15 | 3-May-14 | Jan. 31, 2015 | |
Restricted Stock | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Unrecognized Compensation Expense | $15,683,000,000 | $13,318,000,000 | $10,357,000,000,000 |
Remaining Weighted-Average Vesting Period | 3 years 4 months 24 days | 3 years 4 months 24 days | 2 years 7 months 6 days |
Compensation Expense | 621,000 | 506,000 | |
Stock Options | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Compensation Expense | 4,000 | ||
Intrinsic Value | 0 | ||
Options Granted | 0 | ||
Employee Stock Purchase Plan | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Shares Sold | 7,763 | 11,286 | |
Compensation Expense | $41,000 | $46,000 | |
Employee Stock Purchase Plan Share Purchase Discount | $5.34 | $4.06 |
Weighted_Average_Option_Rollfo
Weighted Average Option Rollforward - (Details) (Stock Options, Class A Common Stock) | 3 Months Ended |
2-May-15 | |
Stock Options | Class A Common Stock | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Options Granted | 0 |
Fair_Value_Measurements_Assets1
Fair Value Measurements - Assets at Fairvalue - (Details) (USD $) | 2-May-15 | Jan. 31, 2015 | 3-May-14 |
In Thousands, unless otherwise specified | |||
Level 1 | Deferred Compensation | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other Liabilities, Fair Value Disclosure | $0 | $0 | $0 |
Level 2 | Deferred Compensation | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other Liabilities, Fair Value Disclosure | 0 | 0 | 0 |
Level 3 | Deferred Compensation | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other Liabilities, Fair Value Disclosure | -4,420 | -4,272 | -3,852 |
State/Municipal Bonds | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available for sale Securities | 0 | 0 | 0 |
State/Municipal Bonds | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available for sale Securities | 162,663 | 148,650 | 155,428 |
State/Municipal Bonds | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available for sale Securities | 0 | 0 | 0 |
Corporate Bonds | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available for sale Securities | 0 | 0 | 0 |
Corporate Bonds | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available for sale Securities | 15,036 | 14,052 | 4,598 |
Corporate Bonds | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available for sale Securities | 0 | 0 | 0 |
Auction Rate Securities (ARS) | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available for sale Securities | 0 | ||
Auction Rate Securities (ARS) | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available for sale Securities | 0 | ||
Auction Rate Securities (ARS) | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available for sale Securities | 3,140 | ||
US Treasury Notes | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available for sale Securities | 1,954 | 3,758 | 1,503 |
US Treasury Notes | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available for sale Securities | 0 | 0 | 0 |
US Treasury Notes | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available for sale Securities | 0 | 0 | 0 |
Corporate Equities | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available for sale Securities | 654 | 613 | 595 |
Corporate Equities | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available for sale Securities | 0 | 0 | 0 |
Corporate Equities | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available for sale Securities | 0 | 0 | 0 |
Certificates of Deposit | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available for sale Securities | 100 | 100 | 100 |
Certificates of Deposit | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available for sale Securities | 0 | 0 | 0 |
Certificates of Deposit | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Available for sale Securities | 0 | 0 | 0 |
Privately Managed Funds | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Alternative Investments, Fair Value Disclosure | 0 | 0 | 0 |
Privately Managed Funds | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Alternative Investments, Fair Value Disclosure | 0 | 0 | 0 |
Privately Managed Funds | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Alternative Investments, Fair Value Disclosure | 39 | 306 | 358 |
Cash Surrender Value - Life Insurance | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Surrender Value, Fair Value Disclosure | 0 | 0 | 0 |
Cash Surrender Value - Life Insurance | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Surrender Value, Fair Value Disclosure | 0 | 0 | 0 |
Cash Surrender Value - Life Insurance | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash Surrender Value, Fair Value Disclosure | $4,773 | $4,558 | $3,568 |
Fair_Value_Measurements_Level_
Fair Value Measurements - Level 3 Roll - (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | 2-May-15 | 3-May-14 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Redemptions | $0 | |
FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems | ||
Begining Balance | -4,272 | -3,298 |
Redemptions | -47 | 0 |
Additions | 0 | -345 |
Losses (Gains) Included In Earnings | -195 | -209 |
Ending Balance | -4,420 | -3,852 |
Auction Rate Securities (ARS) | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning Balance | 0 | 3,140 |
Redemptions | 0 | |
Additions | 0 | |
Gains (Losses) Included in Earnings | 0 | |
Gains (Losses) Included in Other Comprehensive Income | 0 | 0 |
Ending Balance | 0 | 3,140 |
Privately Managed Funds | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning Balance | 306 | 392 |
Redemptions | -246 | 42 |
Additions | 0 | |
Gains (Losses) Included in Earnings | 0 | -1 |
Gains (Losses) Included in Other Comprehensive Income | -21 | 7 |
Ending Balance | 39 | 358 |
Cash Surrender Value - Life Insurance | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning Balance | 4,558 | 2,957 |
Redemptions | 0 | 0 |
Additions | 0 | 519 |
Gains (Losses) Included in Earnings | -215 | -92 |
Gains (Losses) Included in Other Comprehensive Income | 0 | 0 |
Ending Balance | $4,773 | $3,568 |
Fair_Value_Level_3_Inputs_Deta
Fair Value Level 3 Inputs - (Details) (Discounted Cash Flow Analysis, Level 3) | 3 Months Ended |
3-May-14 | |
Fair Value Inputs Assets Quantitative Information [Line Items] | |
Total Term | 9 years 4 months 24 days |
Auction Rate Securities (ARS) | |
Fair Value Inputs Assets Quantitative Information [Line Items] | |
Total Term | 10 years 4 months 24 days |
Comparitive Bond Discount Rate | 0.14% |
ARS Yield | 0.18% |
Uncategorized_Items
Uncategorized Items | ||
[us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent] | 307,000 | 259,000 |