Document and Entity Information
Document and Entity Information | 6 Months Ended |
Jul. 30, 2016USD ($)shares | |
Document and Entity Information [Abstract] | |
Entity Registrant Name | Cato Corp |
Entity Central Index Key | 18,255 |
Document Type | 10-Q |
Document Period End Date | Jul. 30, 2016 |
Amendment Flag | false |
Current Fiscal Year End Date | --07-30 |
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 | 2,016 |
Document Fiscal Period Focus | Q2 |
Entity Public Float | $ | $ 796,035,939 |
Common Class A [Member] | |
Class of Stock [Line Items] | |
Entity Common Stock, Shares Outstanding (actual number) | 26,034,989 |
Common Class B [Member] | |
Class of Stock [Line Items] | |
Entity Common Stock, Shares Outstanding (actual number) | 1,751,576 |
Condensed Consolidated Income S
Condensed Consolidated Income Statements Of Income and Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 30, 2016 | Aug. 01, 2015 | Jul. 30, 2016 | Aug. 01, 2015 | |
Revenues | ||||
Retail sales | $ 236,654 | $ 249,215 | $ 522,151 | $ 530,790 |
Other Revenue (principally finance charges, late fees and layaway charges) | 2,233 | 2,054 | 4,709 | 4,378 |
Total revenues | 238,887 | 251,269 | 526,860 | 535,168 |
COSTS AND EXPENSES, NET | ||||
Cost of goods sold (exclusive of depreciation shown below) | 149,059 | 154,483 | 313,032 | 317,003 |
Selling, general and administrative (exclusive of depreciation shown below) | 67,555 | 67,111 | 138,626 | 135,695 |
Depreciation | 5,672 | 5,554 | 11,348 | 10,928 |
Interest and other income | 1,377 | 834 | 4,305 | 1,402 |
Cost and expenses, net | 220,909 | 226,314 | 458,701 | 462,224 |
Income before income taxes | 17,978 | 24,955 | 68,159 | 72,944 |
Income tax expense | 2,091 | 9,361 | 16,398 | 26,267 |
Net income | $ 15,887 | $ 15,594 | $ 51,761 | $ 46,677 |
Basic earnings per share | $ 0.57 | $ 0.56 | $ 1.86 | $ 1.67 |
Diluted earnings per share | 0.57 | 0.56 | 1.86 | 1.67 |
Dividends per share | $ 0.33 | $ 0.3 | $ 0.63 | $ 0.6 |
Comprehensive income | ||||
Net income | $ 15,887 | $ 15,594 | $ 51,761 | $ 46,677 |
Unrealized gain on available-for-sale securities, net of deferred income taxes | 459 | 98 | 612 | (234) |
Comprehensive Income | $ 16,346 | $ 15,692 | $ 52,373 | $ 46,443 |
Condensed Consolidated Income 3
Condensed Consolidated Income Statements Of Income and Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 30, 2016 | Aug. 01, 2015 | Jul. 30, 2016 | Aug. 01, 2015 | |
OtherComprehensiveIncomeLossTaxParentheticalDisclosuresAbstract | ||||
Tax Effect of Unrealized Gains (Losses) On Available-For-Sale Securities | $ 276 | $ 58 | $ 370 | $ (143) |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jul. 30, 2016 | Jan. 30, 2016 |
Current Assets: | ||
Cash and cash equivalents | $ 43,049 | $ 67,057 |
Short-term investments | 262,426 | 215,495 |
Restricted cash and investments | 4,483 | 4,472 |
Accounts receivable, net of allowance for doubtful accounts | 34,136 | 36,610 |
Merchandise inventories | 134,015 | 141,101 |
Deferred income taxes | 0 | 0 |
Prepaid expenses | 7,172 | 7,317 |
Total Current Assets | 485,281 | 472,052 |
Property and equipment - net | 134,270 | 138,303 |
DeferredTaxAssetsNetNoncurrent | 9,911 | 10,280 |
Other assets | 22,453 | 21,709 |
Total Assets | 651,915 | 642,344 |
Current Liabilities: | ||
Accounts payable | 98,967 | 113,154 |
Accrued expenses | 52,874 | 52,886 |
Accrued benefits | 3,334 | 12,034 |
Accrued income taxes | 1,106 | 1,363 |
Total Current Liabilities | 156,281 | 179,437 |
Deferred tax liabilities noncurrent | 0 | 0 |
Other noncurrent liabilities (primarily deferred rent) | 53,327 | 50,242 |
Stockholders' Equity: | ||
Preferred stock, $100 par value per share, 100,000 shares authorized, none issued | 0 | 0 |
Class of Stock [Line Items] | ||
Common stock | 931 | 935 |
Additional paid-in capital | 92,184 | 90,336 |
Retained earnings | 347,780 | 320,594 |
Accumulated other comprehensive income | 1,412 | 800 |
Total Stockholders' Equity | 442,307 | 412,665 |
Liabilities And Stockholders Equity | 651,915 | 642,344 |
Common Class A [Member] | ||
Class of Stock [Line Items] | ||
Common stock | 873 | 877 |
Common Class B [Member] | ||
Class of Stock [Line Items] | ||
Common stock | $ 58 | $ 58 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Jul. 30, 2016 | Jan. 30, 2016 |
Class of Stock [Line Items] | ||
Allowance For Doubtful Accounts Receivable Current | $ 1,446 | $ 1,447 |
Preferred Stock Par Or Stated Value Per Share | $ 100 | $ 100 |
Preferred Stock Shares Authorized | 100,000 | 100,000 |
Preferred Stock Shares Issued | 0 | 0 |
Common Class B [Member] | ||
Class of Stock [Line Items] | ||
Common Stock Shares Authorized | 15,000,000 | 15,000,000 |
Common Stock Shares Issued | 1,751,576 | 1,743,525 |
Common Stock Par Or Stated Value Per Share | $ 0.033 | $ 0.033 |
Common Class A [Member] | ||
Class of Stock [Line Items] | ||
Common Stock Shares Authorized | 50,000,000 | 50,000,000 |
Common Stock Shares Issued | 26,034,989 | 26,129,692 |
Common Stock Par Or Stated Value Per Share | $ 0.033 | $ 0.033 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jul. 30, 2016 | Aug. 01, 2015 | |
OPERATING ACTIVITIES | ||
Net income | $ 51,761 | $ 46,677 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation | 11,348 | 10,928 |
Provision For Doubtful Accounts | 442 | 498 |
Purchase premium and premium amortization | (1,255) | (3,593) |
Share Based Compensation | 1,856 | 1,996 |
Excess tax benefits from share-based compensation | (125) | (126) |
Deferred income taxes | 0 | (1,204) |
Loss on disposal of property and equipment | 974 | 123 |
Changes in operating assets and liabilities which provided (used) cash: | ||
Accounts receivable | 2,032 | 2,945 |
Merchandise inventories | 7,086 | 14,354 |
Prepaid and other assets | (1,279) | (1,296) |
Accrued income taxes | (132) | 3,827 |
Accounts payable, accrued expenses and other liabilities | (17,701) | (19,362) |
Net cash provided by operating activities | 55,007 | 55,767 |
INVESTING ACTIVITIES | ||
Capital expenditures | (9,952) | (11,402) |
Purchase of short-term investments | (84,806) | (78,776) |
Sales of short-term investments | 40,502 | 30,265 |
Payments to Acquire Projects | (167) | (2,995) |
Proceeds from Sale of Investment Projects | 0 | (268) |
Change in restricted cash and investments | (6) | 7 |
Net cash used in investing activities | (54,429) | (62,633) |
FINANCING ACTIVITIES | ||
Dividends paid | (17,489) | (16,795) |
Repurchase of common stock | (7,696) | (547) |
Proceeds from employee stock purchase plan | 244 | 268 |
Excess tax benefits from share-based compensation financing activities | 125 | 126 |
Proceeds From Stock Options Exercised | 230 | 0 |
Net cash provided used in financing activities | (24,586) | (16,948) |
Net increase in cash and cash equivalents | (24,008) | (23,814) |
Cash and cash equivalents at beginning of period | 67,057 | 93,946 |
Effect of Exchange Rate on Cash | 0 | 0 |
Cash and cash equivalents at end of period | 43,049 | 70,132 |
Change in Accrued PPE | $ (763) | $ (1,075) |
General - Notes to Financial St
General - Notes to Financial Statements | 6 Months Ended |
Jul. 30, 2016 | |
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 July 30, 2016 and August 1, 2015 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 perio d 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 30, 2016 . Amounts as of January 30, 2016 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 q uarter of 2016, the Company determined that there was an error in the classification of unrecognized tax benefits for uncertain tax positions as current liabilities in Accrued income taxes that resulted in a revision to the prior year end balance sheet as of January 30, 2016. The Condensed Consolidated Balance Sheet as of January 30, 2016 has been revised to correct the presentation of the amounts, which resulted in a decrease to Accrued income taxes and a corresponding increase to Other noncurrent liabilit ies of $13.6 million, which primarily consists of deferred rent and deferred compensation liabilities. There was no impact to the statement of income and comprehensive income and no impact to total net cash provided by operating activities or used in inves ting and financing activities in the statement of cash flows. The Company concluded that the revision was immaterial to prior period financial statements. During the first quarter of 2016, the Company changed its estimate for recognizing gift card breakag e income. The Company changed the dormancy period to 24 months of inactivity from 60 months of inactivity to more closely align with recent Company experience, industry practice and tax treatment. As a result, the Company recognized $2.4 million of additio nal breakage income (recorded in Interest and other income in the accompanying Condensed Consolidated Statements of Income and Comprehensive Income) for gift cards that were dormant from January 30, 2011 through February 1, 2014. In August 2016 , the Company repurchased 294,500 shares for $10,156,531 . On August 25, 2016 , t he Board of Directors maintained the quarterly dividend at $0.33 per share. |
Earnings Per Share - Notes to F
Earnings Per Share - Notes to Financial Statements | 3 Months Ended |
Jul. 30, 2016 | |
Earnings Per Share Disclosure [Abstract] | |
Earnings Per Share | NOTE 2 - EARNINGS PER SHARE: Accounting Standard Codification (“ 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 Comprehens ive 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 d ividends 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. Dilute d EPS reflects the potential dilution that could occur from common shares issuable through stock options and the Employee Stock Purchase Plan. Three Months Ended Six Months Ended July 30, 2016 August 1, 2015 July 30, 2016 August 1, 2015 (Dollars in thousands) Numerator Net earnings $ 15,887 $ 15,594 $ 51,761 $ 46,677 Earnings allocated to non-vested equity awards (312) (335) (1,048) (961) Net earnings available to common stockholders $ 15,575 $ 15,259 $ 50,713 $ 45,716 Denominator Basic weighted average common shares outstanding 27,203,160 27,452,199 27,191,066 27,410,674 Dilutive effect of stock options 2,051 5,739 1,974 5,916 Diluted weighted average common shares outstanding 27,205,211 27,457,938 27,193,040 27,416,590 Net income per common share Basic earnings per share (Class A and B Shares) $ 0.57 $ 0.56 $ 1.86 $ 1.67 Diluted earnings per share (Class A and B Shares) $ 0.57 $ 0.56 $ 1.86 $ 1.67 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 3 Months Ended | 6 Months Ended | ||
Jul. 30, 2016 | Aug. 01, 2015 | Jul. 30, 2016 | Aug. 01, 2015 | |
AccumulatedOtherComprehensiveIncomeLossDisclosure[Abstract] | ||||
Accumulated Other Comprehensive Income (Loss) | NOTE 3 – ACCUMULATED OTHER COMPREHENSIVE INCOME : The following table set s forth information regarding the reclassification out of A ccumulated other comprehensive income (in thousands) for the three months end ed July 30, 2016 : Changes in Accumulated Other Comprehensive Income (a) Unrealized Gains and (Losses) on Available-for-Sale Securities Beginning Balance at April 30, 2016 $ 953 Other comprehensive income before reclassifications 510 Amounts reclassified from accumulated other comprehensive income (b) (51) Net current-period other comprehensive income 459 Ending Balance at July 30, 2016 $ 1,412 (a) All amounts are net-of-tax. Amounts in parentheses indicate a debit/reduction to Other Comprehensive Income. (b) Includes ($81) 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 ($30). | NOTE 3 – ACCUMULATED OTHER COMPREHENSIVE INCOME (CONTINUED) : The following table set s forth information regarding the reclassification out of A ccumulated other comprehensive income (in thousands) for the three months end ed August 1, 2015 : Changes in Accumulated Other Comprehensive Income (a) Unrealized Gains and (Losses) on Available-for-Sale Securities Beginning Balance at May 2, 2015 $ 454 Other comprehensive income before reclassifications 102 Amounts reclassified from accumulated other comprehensive income (b) (4) Net current-period other comprehensive income 98 Ending Balance at August 1, 2015 $ 552 (a) All amounts are net-of-tax. Amounts in parentheses indicate a debit/reduction to Other Comprehensive Income. (b) Includes ($6) 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 ($2). | The following table set s forth information regarding the reclassification out of A ccumulated other comprehensive income (in thousands) for the six months end ed July 30, 2016 : Changes in Accumulated Other Comprehensive Income (a) Unrealized Gains and (Losses) on Available-for-Sale Securities Beginning Balance at January 30, 2016 $ 800 Other comprehensive income before reclassifications 664 Amounts reclassified from accumulated other comprehensive income (b) (52) Net current-period other comprehensive income 612 Ending Balance at July 30, 2016 $ 1,412 (a) All amounts are net-of-tax. Amounts in parentheses indicate a debit/reduction to Other Comprehensive Income. (b) Includes ($83) 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 ($31). | The following table set s forth information regarding the reclassification out of A ccumulated other comprehensive income (in thousands) for the six months end ed August 1, 2015 : Changes in Accumulated Other Comprehensive Income (a) Unrealized Gains and (Losses) on Available-for-Sale Securities Beginning Balance at January 31, 2015 $ 786 Other comprehensive income before reclassifications (382) Amounts reclassified from accumulated other comprehensive income (b) 148 Net current-period other comprehensive income (234) Ending Balance at August 1, 2015 $ 552 (a) All amounts are net-of-tax. Amounts in parentheses indicate a debit/reduction to Other Comprehensive Income. (b) Includes $236 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 $88. |
Financing Arrangements - Notes
Financing Arrangements - Notes to Financial Statements | 6 Months Ended |
Jul. 30, 2016 | |
Financing Arrangements [Abstract] | |
Financing Arrangements | NOTE 4 – FINANCING ARRANGEMENTS: As of July 30, 2016 , 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 . T he revolving credit agreemen t 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 c ompliance as of July 30, 2016 . There were no borrowings out standing under th is credit facility during the periods ended July 30, 2016 or January 30, 2016 . The weighted average interest rate under the credit facility was zero at July 30, 2016 due to no borrowings during the year. At July 30, 2016 and January 30, 2016 , the Company had no outstanding revocable letters of credit relating to purchase commitments. |
Reportable Segment Information
Reportable Segment Information - Notes to Financial Statements | 6 Months Ended |
Jul. 30, 2016 | |
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 C redit. As outlined in ASC 280-10, the Company has two reportable segments: R etail and C redit. 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 to have similar economic characteristics, product s , production processes, clients and methods of distribution. The Company’s retail opera ting 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 invento ry for the Company’s retail op erating 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 distrib ution center and is subsequently distributed to clients in a similar manner. The Company operates its women’s fashion specialty retail stores in 33 states as of July 30, 2016 , 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 Six Months Ended July 30, 2016 Retail Credit Total July 30, 2016 Retail Credit Total Revenues $237,645 $1,242 $238,887 Revenues $524,348 $2,512 $526,860 Depreciation 5,660 12 5,672 Depreciation 11,323 25 11,348 Interest and other income (1,377) - (1,377) Interest and other income (4,305) - (4,305) Income before taxes 17,481 497 17,978 Income before taxes 67,319 840 68,159 Capital expenditures 3,922 - 3,922 Capital expenditures 9,952 - 9,952 Three Months Ended Six Months Ended August 1, 2015 Retail Credit Total August 1, 2015 Retail Credit Total Revenues $249,919 $1,350 $251,269 Revenues $532,412 $2,756 $535,168 Depreciation 5,541 13 5,554 Depreciation 10,903 25 10,928 Interest and other income (834) - (834) Interest and other income (1,402) - (1,402) Income before taxes 24,479 476 24,955 Income before taxes 71,997 947 72,944 Capital expenditures 6,823 - 6,823 Capital expenditures 11,402 - 11,402 Retail Credit Total Total assets as of July 30, 2016 $597,791 $54,124 $651,915 Total assets as of January 30, 2016 540,941 101,403 642,344 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 S elling, general and administrative expenses (in thousands): Three Months Ended Six Months Ended July 30, 2016 August 1, 2015 July 30, 2016 August 1, 2015 Bad debt expense $ 196 $ 239 $ 442 $ 498 Payroll 205 219 436 430 Postage 155 200 335 391 Other expenses 177 203 434 465 Total expenses $ 733 $ 861 $ 1,647 $ 1,784 |
Stock Based Compensation - Note
Stock Based Compensation - Notes to Financial Statements | 6 Months Ended |
Jul. 30, 2016 | |
Disclosure Of Compensation Related Costs Sharebased Payments Abstract | |
Stock Based Compensation | NOTE 6 – STOCK- BASED COMPENSATION: As of July 30, 2016 , 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 July 30, 2016 , 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 July 30, 2016 : 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: July 30, 2016 - - 1,015,587 1,015,587 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 July 30, 2016 and January 30, 2016 , there was $15,249,000 and $12,214,000 , respectively, of total unrecognized compensation expense related to nonvested restricted stock awards, whic h had a remaining weight ed-average vesting p eriod of 3.0 years and 2.6 years, respectively. The total fair value of the shares recognized as compensation expense during the three and six months ended July 30, 2016 was $1,449,000 and $1,802,000 , r espectively, compared to $1,319,000 and $1,940,000 , respectively, for the three and six months ended August 1, 2015 . These expenses are classified as a component of S elling, general and administrative expenses in the Condensed Consolid ated Statements of Income . The following summary shows the changes in the shares of unvested restricted stock outstanding during the six months ended July 30, 2016 : Weighted Average Number of Grant Date Fair Shares Value Per Share Restricted stock awards at January 30, 2016 576,676 $ 29.71 Granted 148,591 36.83 Vested (103,808) 25.19 Forfeited or expired (40,568) 34.24 Restricted stock awards at July 30, 2016 580,891 $ 32.25 NOTE 6 – STOCK BASED- COMPENSATION (CONTINUED): 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 six months ended July 30, 2016 and August 1, 2015 , the Company sold 8,143 and 8,781 shares to employees at an average discount of $5.29 and $5.40 per share, respectively, under the Employee Stock Purchase Plan. The compensation expense recognized for the 15% discount given under the Employee Stock Purchas e Plan was approximately $43,000 and $47,000 for the six months ended July 30, 2016 and August 1, 2015 , respectively . These expenses are classified as a component of S elling, general and administrative expenses. |
Fair Value Measurements - Notes
Fair Value Measurements - Notes to Financial Statements | 6 Months Ended | 12 Months Ended |
Jul. 30, 2016 | Jan. 30, 2016 | |
Fair Value Measurements [Abstract] | ||
Fair Value Disclosures Text Block | NOTE 7 – FAIR VALUE MEASUREMENTS: The following table s set forth information regarding the Company’s financial assets and liabilities that are measured at fair value (in t housands) as of July 30, 2016 and January 30, 2016 Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable July 30, 2016 Assets Inputs Inputs Description Level 1 Level 2 Level 3 Assets: State/Municipal Bonds $ 225,983 $ - $ 225,983 $ - Corporate Bonds 27,985 - 27,985 - U.S. Treasury Notes 3,010 3,010 - - Cash Surrender Value of Life Insurance 7,836 - - 7,836 Asset-backed Securities (ABS) 8,458 - 8,458 - Corporate Equities 629 629 - - Certificates of Deposit 100 100 - - Total Assets $ 274,001 $ 3,739 $ 262,426 $ 7,836 Liabilities: Deferred Compensation (7,723) - - (7,723) Total Liabilities $ (7,723) $ - $ - $ (7,723) 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 July 30, 2016 and January 30, 2016 . The state, municipal and corporate bonds have contractual maturities which range from two days to 27.0 years. The U.S. Treasury Notes and Certificates of Deposit have contract ual maturities which range from two months to 1.6 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 accom panying 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 July 30, 2016 , the Company had $0.6 milli on of corporate equities and deferred compensation plan assets of $7.8 million. At January 30, 2016 , the Company had $0.6 million of corporate equities and deferred compensation plan assets of $6.4 mi llion. 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 munic ipal 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 i n 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 o ther factors. 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 un derlying 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 and liabilities measured using Level 3 inputs as of July 30, 2016 and January 30, 2016 (in thousands): Fair Value Measurements Using Significant Unobservable Asset Inputs (Level 3) Cash Other Investments Surrender Private Equity Value Total Beginning Balance at January 30, 2016 $ - $ 6,409 $ 6,409 Redemptions - - - Additions - 1,028 1,028 Total gains or (losses) Included in interest and other income (or changes in net assets) - 399 399 Included in other comprehensive income - - - Ending Balance at July 30, 2016 $ - $ 7,836 $ 7,836 Fair Value Measurements Using Significant Unobservable Liability Inputs (Level 3) Deferred Compensation Total Beginning Balance at January 30, 2016 $ (6,187) $ (6,187) Additions (1,018) (1,018) Total (gains) or losses Included in interest and other income (or changes in net assets) (518) (518) Included in other comprehensive income - - Ending Balance at July 30, 2016 $ (7,723) $ (7,723) | Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable January 30, 2016 Assets Inputs Inputs Description Level 1 Level 2 Level 3 Assets: State/Municipal Bonds $ 193,500 $ - $ 193,500 $ - Corporate Bonds 10,941 - 10,941 - U.S. Treasury Notes 1,203 1,203 - - Cash Surrender Value of Life Insurance 6,409 - - 6,409 Asset-backed Securities (ABS) 11,054 - 11,054 - Corporate Equities 578 578 - - Certificates of Deposit 100 100 - - Total Assets $ 223,785 $ 1,881 $ 215,495 $ 6,409 Liabilities: Deferred Compensation (6,187) - - (6,187) Total Liabilities $ (6,187) $ - $ - $ (6,187) Fair Value Measurements Using Significant Unobservable Asset Inputs (Level 3) Cash Other Investments Surrender Private Equity Value Total Beginning Balance at January 31, 2015 $ 306 $ 4,558 $ 4,865 Redemptions (270) - (270) Additions - 2,071 2,071 Total gains or (losses) Included in interest and other income (or changes in net assets) 92 (220) (128) Included in other comprehensive income (128) - (128) Ending Balance at January 30, 2016 $ - $ 6,409 $ 6,409 Fair Value Measurements Using Significant Unobservable Liability Inputs (Level 3) Deferred Compensation Total Beginning Balance at January 31, 2015 $ (4,272) $ (4,272) Additions (2,092) (2,092) Total (gains) or losses Included in interest and other income (or changes in net assets) - - Included in other comprehensive income 177 177 Ending Balance at January 30, 2016 $ (6,187) $ (6,187) |
Recent Accounting Pronouncement
Recent Accounting Pronouncements - Notes to Financial Statements | 6 Months Ended |
Jul. 30, 2016 | |
Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements | Recently Adopted Accounting Policies In March 2016, the Financial Accounting Standards Board issued Accounting Standards Update 2016-09. This new accounting guidance requires entities to record the differences between income tax stock expense and book tax expense as a component of income tax expense in the income statement. The standard is effective for annual periods beginning after December 15, 2016, with early adoption permitted. In the second quarter of 2016, we early adopted this new guidance. The impact on the Condensed Consolidated Statements of Income and Comprehensive Income for the three and six months ended July 30, 2016 was $594,000. In November 2015, the Financial Accounting Standards Board issued Accounting Standards Update 2015-17. This ne w accounting guidance requires entities to present deferred tax assets and deferred tax liabilities, along with any related valuation allowance, as noncurrent in a balance sheet. The standard is effective for annual and interim periods beginning after Dece mber 15, 2016, with early adoption permitted. We have early adopted this new guidance prospectively beginning with the Condensed Consolidated Balance Sheet at January 30, 2016, which is included in the Company’s Annual Report on Form 10-K. Prior periods we re not retrospectively adjusted. Recent Accounting Pronouncements In November 2015, the Financial Accounting Standards Board issued an effective date for a new leasing standard that will require substantially all leases to be recorded on the balance shee t. The standard is effective for the Company’s first quarter of its 2019 fiscal year; early adoption is permitted as of the beginning of an interim or annual reporting period. The Company is assessing what impacts this new standard will have on its Consoli dated Financial Statements. In July 2015, the Financial Accounting Standards Board issued an accounting standards update that will simplify the measurement of inventory for companies. The standard differentiates the valuation methods used to measure inve ntory based on the type of inventory method utilized by a company. Companies using the first-in, first-out method and the average cost method will measure inventory at the net realizable value method to measure inventory. Companies using the last-in, first -out method and the retail method will use the lower of cost or market to measure inventory. The standard is effective for the Company’s first quarter of its 2017 fiscal year; early adoption is permitted as of the beginning of an interim or annual reportin g period. 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 rec ognition 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 servic es 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 disclosu re 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. |
Income Tax - Notes to the Finan
Income Tax - Notes to the Financial Statements | 6 Months Ended |
Jul. 30, 2016 | |
IncomeTaxDisclosureAbstract | |
Income Tax Disclosure [Text Block] | The effective tax rate for the second quarter of 2016 was 11.6% compared to 37.5% for the second quarter of 2015 . The decrease in the effective tax rate for the second quarter of 2016 as compared to the second quarter of 2015 is primarily due to a $9.6 million benefit related to continuing foreign and domestic tax initiatives, which also includes the impact of Protecting Americans from Tax Hikes (PATH Ac t) and the early adoption of Share Based Accounting Improvements (ASU 2016-09) during the second quarter of 2016 . The decrease in the effective tax rate is also due to the change in relative proportions of net earnings attributable to various discrete items to total pre-tax earnings between the periods due to lower pre-tax earnings in the current period . |
Income Taxes
Income Taxes | 6 Months Ended |
Jul. 30, 2016 | |
IncomeTaxDisclosureAbstract | |
Income Taxes | The effective tax rate for the second quarter of 2016 was 11.6% compared to 37.5% for the second quarter of 2015 . The decrease in the effective tax rate for the second quarter of 2016 as compared to the second quarter of 2015 is primarily due to a $9.6 million benefit related to continuing foreign and domestic tax initiatives, which also includes the impact of Protecting Americans from Tax Hikes (PATH Ac t) and the early adoption of Share Based Accounting Improvements (ASU 2016-09) during the second quarter of 2016 . The decrease in the effective tax rate is also due to the change in relative proportions of net earnings attributable to various discrete items to total pre-tax earnings between the periods due to lower pre-tax earnings in the current period . |
Earnings Per Share - (Tables)
Earnings Per Share - (Tables) | 3 Months Ended |
Jul. 30, 2016 | |
Earnings Per Share Disclosure [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Six Months Ended July 30, 2016 August 1, 2015 July 30, 2016 August 1, 2015 (Dollars in thousands) Numerator Net earnings $ 15,887 $ 15,594 $ 51,761 $ 46,677 Earnings allocated to non-vested equity awards (312) (335) (1,048) (961) Net earnings available to common stockholders $ 15,575 $ 15,259 $ 50,713 $ 45,716 Denominator Basic weighted average common shares outstanding 27,203,160 27,452,199 27,191,066 27,410,674 Dilutive effect of stock options 2,051 5,739 1,974 5,916 Diluted weighted average common shares outstanding 27,205,211 27,457,938 27,193,040 27,416,590 Net income per common share Basic earnings per share (Class A and B Shares) $ 0.57 $ 0.56 $ 1.86 $ 1.67 Diluted earnings per share (Class A and B Shares) $ 0.57 $ 0.56 $ 1.86 $ 1.67 |
Changes in Accumulated Other Co
Changes in Accumulated Other Comprehensive Income (Tables) | 3 Months Ended | 6 Months Ended | ||
Jul. 30, 2016 | Aug. 01, 2015 | Jul. 30, 2016 | Aug. 01, 2015 | |
AccumulatedOtherComprehensiveIncomeLossDisclosure[Abstract] | ||||
Schedule Of Accumulated Other Comprehensive Income Loss Table Text Block | NOTE 3 – ACCUMULATED OTHER COMPREHENSIVE INCOME : The following table set s forth information regarding the reclassification out of A ccumulated other comprehensive income (in thousands) for the three months end ed July 30, 2016 : Changes in Accumulated Other Comprehensive Income (a) Unrealized Gains and (Losses) on Available-for-Sale Securities Beginning Balance at April 30, 2016 $ 953 Other comprehensive income before reclassifications 510 Amounts reclassified from accumulated other comprehensive income (b) (51) Net current-period other comprehensive income 459 Ending Balance at July 30, 2016 $ 1,412 (a) All amounts are net-of-tax. Amounts in parentheses indicate a debit/reduction to Other Comprehensive Income. (b) Includes ($81) 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 ($30). | NOTE 3 – ACCUMULATED OTHER COMPREHENSIVE INCOME (CONTINUED) : The following table set s forth information regarding the reclassification out of A ccumulated other comprehensive income (in thousands) for the three months end ed August 1, 2015 : Changes in Accumulated Other Comprehensive Income (a) Unrealized Gains and (Losses) on Available-for-Sale Securities Beginning Balance at May 2, 2015 $ 454 Other comprehensive income before reclassifications 102 Amounts reclassified from accumulated other comprehensive income (b) (4) Net current-period other comprehensive income 98 Ending Balance at August 1, 2015 $ 552 (a) All amounts are net-of-tax. Amounts in parentheses indicate a debit/reduction to Other Comprehensive Income. (b) Includes ($6) 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 ($2). | The following table set s forth information regarding the reclassification out of A ccumulated other comprehensive income (in thousands) for the six months end ed July 30, 2016 : Changes in Accumulated Other Comprehensive Income (a) Unrealized Gains and (Losses) on Available-for-Sale Securities Beginning Balance at January 30, 2016 $ 800 Other comprehensive income before reclassifications 664 Amounts reclassified from accumulated other comprehensive income (b) (52) Net current-period other comprehensive income 612 Ending Balance at July 30, 2016 $ 1,412 (a) All amounts are net-of-tax. Amounts in parentheses indicate a debit/reduction to Other Comprehensive Income. (b) Includes ($83) 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 ($31). | The following table set s forth information regarding the reclassification out of A ccumulated other comprehensive income (in thousands) for the six months end ed August 1, 2015 : Changes in Accumulated Other Comprehensive Income (a) Unrealized Gains and (Losses) on Available-for-Sale Securities Beginning Balance at January 31, 2015 $ 786 Other comprehensive income before reclassifications (382) Amounts reclassified from accumulated other comprehensive income (b) 148 Net current-period other comprehensive income (234) Ending Balance at August 1, 2015 $ 552 (a) All amounts are net-of-tax. Amounts in parentheses indicate a debit/reduction to Other Comprehensive Income. (b) Includes $236 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 $88. |
Reportable Segment Informatio19
Reportable Segment Information - (Tables) | 6 Months Ended |
Jul. 30, 2016 | |
Reportable Segment Information [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended Six Months Ended July 30, 2016 Retail Credit Total July 30, 2016 Retail Credit Total Revenues $237,645 $1,242 $238,887 Revenues $524,348 $2,512 $526,860 Depreciation 5,660 12 5,672 Depreciation 11,323 25 11,348 Interest and other income (1,377) - (1,377) Interest and other income (4,305) - (4,305) Income before taxes 17,481 497 17,978 Income before taxes 67,319 840 68,159 Capital expenditures 3,922 - 3,922 Capital expenditures 9,952 - 9,952 Three Months Ended Six Months Ended August 1, 2015 Retail Credit Total August 1, 2015 Retail Credit Total Revenues $249,919 $1,350 $251,269 Revenues $532,412 $2,756 $535,168 Depreciation 5,541 13 5,554 Depreciation 10,903 25 10,928 Interest and other income (834) - (834) Interest and other income (1,402) - (1,402) Income before taxes 24,479 476 24,955 Income before taxes 71,997 947 72,944 Capital expenditures 6,823 - 6,823 Capital expenditures 11,402 - 11,402 Retail Credit Total Total assets as of July 30, 2016 $597,791 $54,124 $651,915 Total assets as of January 30, 2016 540,941 101,403 642,344 Three Months Ended Six Months Ended July 30, 2016 August 1, 2015 July 30, 2016 August 1, 2015 Bad debt expense $ 196 $ 239 $ 442 $ 498 Payroll 205 219 436 430 Postage 155 200 335 391 Other expenses 177 203 434 465 Total expenses $ 733 $ 861 $ 1,647 $ 1,784 |
Sechedule Of Restricted Stock O
Sechedule Of Restricted Stock Outstanding - (Tables) | 6 Months Ended |
Jul. 30, 2016 | |
Disclosure Of Compensation Related Costs Sharebased Payments Abstract | |
Schedule Of Changes In Restricted Stock Outstanding | 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: July 30, 2016 - - 1,015,587 1,015,587 |
Stock Option Changes - (Tables)
Stock Option Changes - (Tables) | 6 Months Ended |
Jul. 30, 2016 | |
Disclosure Of Compensation Related Costs Sharebased Payments Abstract | |
Schedule of Stock Options Outstanding | Weighted Average Number of Grant Date Fair Shares Value Per Share Restricted stock awards at January 30, 2016 576,676 $ 29.71 Granted 148,591 36.83 Vested (103,808) 25.19 Forfeited or expired (40,568) 34.24 Restricted stock awards at July 30, 2016 580,891 $ 32.25 |
Fair Value Measurements - Asset
Fair Value Measurements - Assets at Fairvalue - (Tables) | 6 Months Ended | 12 Months Ended |
Jul. 30, 2016 | Jan. 30, 2016 | |
Fair Value Measurements [Abstract] | ||
Fair Value Disclosures | Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable July 30, 2016 Assets Inputs Inputs Description Level 1 Level 2 Level 3 Assets: State/Municipal Bonds $ 225,983 $ - $ 225,983 $ - Corporate Bonds 27,985 - 27,985 - U.S. Treasury Notes 3,010 3,010 - - Cash Surrender Value of Life Insurance 7,836 - - 7,836 Asset-backed Securities (ABS) 8,458 - 8,458 - Corporate Equities 629 629 - - Certificates of Deposit 100 100 - - Total Assets $ 274,001 $ 3,739 $ 262,426 $ 7,836 Liabilities: Deferred Compensation (7,723) - - (7,723) Total Liabilities $ (7,723) $ - $ - $ (7,723) | Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable January 30, 2016 Assets Inputs Inputs Description Level 1 Level 2 Level 3 Assets: State/Municipal Bonds $ 193,500 $ - $ 193,500 $ - Corporate Bonds 10,941 - 10,941 - U.S. Treasury Notes 1,203 1,203 - - Cash Surrender Value of Life Insurance 6,409 - - 6,409 Asset-backed Securities (ABS) 11,054 - 11,054 - Corporate Equities 578 578 - - Certificates of Deposit 100 100 - - Total Assets $ 223,785 $ 1,881 $ 215,495 $ 6,409 Liabilities: Deferred Compensation (6,187) - - (6,187) Total Liabilities $ (6,187) $ - $ - $ (6,187) |
Fair Value Measurments - Level
Fair Value Measurments - Level 3 Roll (Tables) | 6 Months Ended | 12 Months Ended |
Jul. 30, 2016 | Jan. 30, 2016 | |
Fair Value Measurements [Abstract] | ||
Level 3 Reconciliation | Fair Value Measurements Using Significant Unobservable Asset Inputs (Level 3) Cash Other Investments Surrender Private Equity Value Total Beginning Balance at January 30, 2016 $ - $ 6,409 $ 6,409 Redemptions - - - Additions - 1,028 1,028 Total gains or (losses) Included in interest and other income (or changes in net assets) - 399 399 Included in other comprehensive income - - - Ending Balance at July 30, 2016 $ - $ 7,836 $ 7,836 Fair Value Measurements Using Significant Unobservable Liability Inputs (Level 3) Deferred Compensation Total Beginning Balance at January 30, 2016 $ (6,187) $ (6,187) Additions (1,018) (1,018) Total (gains) or losses Included in interest and other income (or changes in net assets) (518) (518) Included in other comprehensive income - - Ending Balance at July 30, 2016 $ (7,723) $ (7,723) | Fair Value Measurements Using Significant Unobservable Asset Inputs (Level 3) Cash Other Investments Surrender Private Equity Value Total Beginning Balance at January 31, 2015 $ 306 $ 4,558 $ 4,865 Redemptions (270) - (270) Additions - 2,071 2,071 Total gains or (losses) Included in interest and other income (or changes in net assets) 92 (220) (128) Included in other comprehensive income (128) - (128) Ending Balance at January 30, 2016 $ - $ 6,409 $ 6,409 Fair Value Measurements Using Significant Unobservable Liability Inputs (Level 3) Deferred Compensation Total Beginning Balance at January 31, 2015 $ (4,272) $ (4,272) Additions (2,092) (2,092) Total (gains) or losses Included in interest and other income (or changes in net assets) - - Included in other comprehensive income 177 177 Ending Balance at January 30, 2016 $ (6,187) $ (6,187) |
General - Notes to Financial 24
General - Notes to Financial Statements - (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 30, 2016 | Aug. 01, 2015 | Jul. 30, 2016 | Aug. 01, 2015 | |
General Dsiclosure [Abstract] | ||||
Quarterly Declared Dividend | $ 0.33 | $ 0.3 | $ 0.63 | $ 0.6 |
Repurchase of common stock | $ 7,696 | $ 547 | ||
Net income | $ 15,887 | $ 15,594 | 51,761 | 46,677 |
Dividends paid | $ 17,489 | $ 16,795 |
Earnings Per Share - (Details)
Earnings Per Share - (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 30, 2016 | Aug. 01, 2015 | Jul. 30, 2016 | Aug. 01, 2015 | |
Earnings Per Share Disclosure [Abstract] | ||||
Net income | $ 15,887 | $ 15,594 | $ 51,761 | $ 46,677 |
Earnings Allocated to Non-Vesting Equity Awards | (312) | (335) | (1,048) | (961) |
Net Income (Loss) Available to Common Stockholders | $ 15,575 | $ 15,259 | $ 50,713 | $ 45,716 |
Basic Weighted-Average common shares outstanding | 27,203,160 | 27,452,199 | 27,191,066 | 27,410,674 |
Dilutive Effect of Stock Options | 2,051 | 5,739 | 1,974 | 5,916 |
Dilluted Weighted Average Common Shares Outstanding | 27,205,211 | 27,457,938 | 27,193,040 | 27,416,590 |
Basic earnings per share | $ 0.57 | $ 0.56 | $ 1.86 | $ 1.67 |
Diluted earnings per share | $ 0.57 | $ 0.56 | $ 1.86 | $ 1.67 |
Changes in Accumulated Other 26
Changes in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 30, 2016 | Aug. 01, 2015 | Jul. 30, 2016 | Aug. 01, 2015 | |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
Beginning Balance Accumulated other comprehensive income, net of tax | $ 800 | |||
Unrealized gain on available-for-sale securities, net of deferred income taxes | $ 459 | $ 98 | 612 | $ (234) |
Ending Balance Accumulated other comprehensive income, net of tax | 1,412 | 1,412 | ||
ChangeInUnrealizedGainsOnAvailableForSaleSecuritiesMember [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||
Beginning Balance Accumulated other comprehensive income, net of tax | 953 | 454 | 800 | 786 |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax | 510 | 102 | 664 | (382) |
Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax | (51) | (4) | (52) | 148 |
Unrealized gain on available-for-sale securities, net of deferred income taxes | 459 | 98 | 612 | (234) |
Ending Balance Accumulated other comprehensive income, net of tax | $ 1,412 | $ 552 | $ 1,412 | $ 552 |
Changes in Accumulated Other 27
Changes in Accumulated Other Comprehensive Income Components - (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 30, 2016 | Aug. 01, 2015 | Jul. 30, 2016 | Aug. 01, 2015 | |
ReclassificationAdjustmentOutOfAccumulatedOtherComprehensiveIncomeLineItems | ||||
Income Tax Benefit (Expense) | $ 2,091 | $ 9,361 | $ 16,398 | $ 26,267 |
Reclassified Accumulated Unrealized Gains and Losses | ||||
ReclassificationAdjustmentOutOfAccumulatedOtherComprehensiveIncomeLineItems | ||||
Interest and Other Income | (81) | (6) | (83) | 236 |
Income Tax Benefit (Expense) | $ (30) | $ (2) | $ (31) | $ 88 |
Financing Arrangements - (Detai
Financing Arrangements - (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Apr. 30, 2016 | Jul. 30, 2016 | Jan. 30, 2016 | |
Letter of Credit [Member] | |||
Line of Credit Facility [Line Items] | |||
Line of Credit Facility Outstanding Borrowings | $ 0 | $ 0 | $ 0 |
Line of Credit Facility, Expiration Date | Aug. 22, 2015 | ||
RevolvingCreditFacilityMember [Member] | |||
Line of Credit Facility [Line Items] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 35,000 | ||
Line of Credit Facility Outstanding Borrowings | $ 0 |
Reportable Segment Informatio29
Reportable Segment Information - (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jul. 30, 2016 | Aug. 01, 2015 | Jul. 30, 2016 | Aug. 01, 2015 | Jan. 30, 2016 | |
Segment Reporting Information [Line Items] | |||||
Total revenues | $ 238,887 | $ 251,269 | $ 526,860 | $ 535,168 | |
Depreciation | 5,672 | 5,554 | 11,348 | 10,928 | |
Interest and other income | 1,377 | 834 | 4,305 | 1,402 | |
Total Assets | 651,915 | 651,915 | $ 642,344 | ||
Capital expenditures | 3,922 | 6,823 | 9,952 | 11,402 | |
Income Before Taxes | 17,978 | 24,955 | 68,159 | 72,944 | |
ReportableSegmentsMemberRetail [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues | 237,645 | 249,919 | 524,348 | 532,412 | |
Depreciation | 5,660 | 5,541 | 11,323 | 10,903 | |
Interest and other income | 1,377 | 834 | 4,305 | 1,402 | |
Total Assets | 597,791 | 597,791 | 540,941 | ||
Capital expenditures | 3,922 | 6,823 | 9,952 | 11,402 | |
Income Before Taxes | 17,481 | 24,479 | 67,319 | 71,997 | |
ReportableSegmentsMemberCredit [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues | 1,242 | 1,350 | 2,512 | 2,756 | |
Depreciation | 12 | 13 | 25 | 25 | |
Interest and other income | 0 | 0 | 0 | 0 | |
Total Assets | 54,124 | 54,124 | $ 101,403 | ||
Capital expenditures | 0 | 0 | 0 | 0 | |
Income Before Taxes | $ 497 | $ 476 | $ 840 | $ 947 |
Direct Expenses of Credit Segme
Direct Expenses of Credit Segment in SGA - (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 30, 2016 | Aug. 01, 2015 | Jul. 30, 2016 | Aug. 01, 2015 | |
Segment Reporting Information [Line Items] | ||||
Bad debt expense | $ 196 | $ 239 | $ 442 | $ 498 |
ReportableSegmentsMemberCredit [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Labor and Related Expense | 205 | 219 | 436 | 430 |
Postage Expense | 155 | 200 | 335 | 391 |
Other Expenses | $ 177 | $ 203 | $ 434 | $ 465 |
Stock Based Compensation - Plan
Stock Based Compensation - Plans - (Details) | Jul. 30, 2016shares |
1987 Plan | |
Authorized And Available For Grant [Line Items] | |
Options And/Or Restrcited Stock Initially Authorized | 5,850,000 |
Options And Or Restricted Stock Available For Grant | 0 |
2004 Plan | |
Authorized And Available For Grant [Line Items] | |
Options And/Or Restrcited Stock Initially Authorized | 1,350,000 |
Options And Or Restricted Stock Available For Grant | 0 |
2013 Plan | |
Authorized And Available For Grant [Line Items] | |
Options And/Or Restrcited Stock Initially Authorized | 1,500,000 |
Options And Or Restricted Stock Available For Grant | 1,015,587 |
Sechedule Of Restricted Stock32
Sechedule Of Restricted Stock Outstanding - (Details) - 2004 Plan - Restricted Stock - Class A Common Stock | 6 Months Ended |
Jul. 30, 2016$ / sharesshares | |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested [Roll Forward] | |
Restricted Stock Awards Beginning Balance | shares | 576,676 |
Restricted Stock Awards Granted | shares | 148,591 |
Restricted Stock Awards Vested | shares | (103,808) |
Restricted Stock Awards Foreited | shares | (40,568) |
Restricted Stock Awards Ending Balance | shares | 580,891 |
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 | $ / shares | $ 29.71 |
Granted Restricted Stock Awards Weighted Average Grant Date Fair Value Per Share | $ / shares | 36.83 |
Vested Restricted Stock Awards Weighted Average Grant Date Fair Value Per Share | $ / shares | 25.19 |
Forfeited Restricted Stock Awards Weighted Average Grant Date Fair Value Per Share | $ / shares | 34.24 |
Restricted Stock Awards Weighted Average Grant Date Fair Value Per Share - Ending Balance | $ / shares | $ 32.25 |
Stock Based Compensation Additi
Stock Based Compensation Additional - (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jul. 30, 2016 | Aug. 01, 2015 | Jul. 30, 2016 | Aug. 01, 2015 | Jan. 30, 2016 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Compensation Expense | $ 1,802,000 | $ 1,940,000 | |||
Restricted Stock | Class A Common Stock | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Unrecognized Compensation Expense | $ 15,249,000 | $ 14,528,000 | $ 15,249,000 | $ 14,528,000 | $ 12,214,000 |
Remaining Weighted-Average Vesting Period | 3 years 3 months 18 days | 3 years 1 month | 2 years 7 months 6 days | ||
Compensation Expense | $ 1,449,000 | $ 1,319,000 | |||
Employee Stock Purchase Plan | Class A Common Stock | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Shares Sold | 8,143 | 8,781 | |||
Compensation Expense | $ 43,000 | $ 47,000 | |||
Employee Stock Purchase Plan Share Purchase Discount | $ 5.29 | $ 5.4 | $ 5.29 | $ 5.4 |
Fair Value Measurements - Ass34
Fair Value Measurements - Assets at Fairvalue - (Details) - USD ($) $ in Thousands | Jul. 30, 2016 | Jan. 30, 2016 |
Level 1 | Deferred Compensation | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Liabilities, Fair Value Disclosure | $ 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 |
Level 3 | Deferred Compensation | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Liabilities, Fair Value Disclosure | (7,723) | (6,187) |
State/Municipal Bonds | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 0 | 0 |
State/Municipal Bonds | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 225,983 | 193,500 |
State/Municipal Bonds | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 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 |
Corporate Bonds | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 27,985 | 10,941 |
Corporate Bonds | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 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 | 0 | |
US Treasury Notes | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 3,010 | 1,203 |
US Treasury Notes | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 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 |
Corporate Equities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 629 | 578 |
Corporate Equities | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 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 |
Certificates of Deposit | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 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 |
Certificates of Deposit | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 0 | 0 |
Asset Backed Securities (ABS) | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 0 | 0 |
Asset Backed Securities (ABS) | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 8,458 | 11,054 |
Asset Backed Securities (ABS) | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 0 | 0 |
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 |
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 |
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 | $ 7,836 | $ 6,409 |
Fair Value Measurements - Level
Fair Value Measurements - Level 3 Roll - (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jul. 30, 2016 | Jan. 30, 2016 | |
Deferred Compensation | ||
FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems | ||
Begining Balance | $ (6,187) | $ (4,272) |
Redemptions | (1,018) | (2,092) |
Additions | (518) | 0 |
Losses (Gains) Included In Earnings | 0 | 177 |
Ending Balance | (7,723) | (6,187) |
Privately Managed Funds | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning Balance | 0 | 306 |
Redemptions | 0 | (270) |
Additions | 0 | 0 |
Gains (Losses) Included in Earnings | 0 | (92) |
Gains (Losses) Included in Other Comprehensive Income | 0 | (128) |
Ending Balance | 0 | 0 |
Cash Surrender Value - Life Insurance | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning Balance | 6,409 | 4,558 |
Redemptions | 0 | 0 |
Additions | 1,028 | 2,071 |
Gains (Losses) Included in Earnings | 399 | (220) |
Gains (Losses) Included in Other Comprehensive Income | 0 | 0 |
Ending Balance | $ 7,836 | $ 6,409 |
Income Tax (Details)
Income Tax (Details) | 3 Months Ended | |
Jul. 30, 2016 | Aug. 01, 2015 | |
IncomeTaxDisclosureAbstract | ||
Effective Income Tax Rate | 11.60% | 37.50% |
Effective Tax Rate (Details)
Effective Tax Rate (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |
Jul. 30, 2016 | Aug. 01, 2015 | Jul. 30, 2016 | |
EffectiveIncomeTaxRateContinuingOperationsTaxRateReconciliationAbstract | |||
Effective Income Tax Rate | 11.60% | 37.50% | |
Income Tax Benefit, foreign domestic tax initiatives | $ 9,600,000 |