Genesco (GCO) 10-Q 8 Sep 16 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jul. 30, 2016	Aug. 26, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	GENESCO INC
Entity Central Index Key	18,498
Document Type	10-Q
Document Period End Date	Jul. 30, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--01-28
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		20,624,514

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 30, 2016	Jan. 30, 2016	Aug. 01, 2015
Current Assets:
Cash and cash equivalents	$ 41,466	$ 133,288	$ 48,997
Accounts receivable, net of allowances of $3,171 at July 30, 2016, $2,960 at January 30, 2016 and $4,304 at August 1, 2015	46,469	47,265	58,385
Inventories	663,708	529,758	734,803
Deferred income taxes	28,146	28,965	29,192
Prepaids and other current assets	69,381	60,810	70,644
Total current assets	849,170	800,086	942,021
Property and equipment:
Land	7,872	8,038	8,303
Buildings and building equipment	50,761	51,768	34,803
Computer hardware, software and equipment	190,689	183,985	170,304
Furniture and fixtures	209,246	209,337	198,580
Construction in progress	27,341	16,190	41,731
Improvements to leased property	363,000	359,591	349,962
Property and equipment, at cost	848,909	828,909	803,683
Accumulated depreciation	(527,678)	(505,581)	(493,268)
Property and equipment, net	321,231	323,328	310,415
Deferred income taxes	1,525	959	30
Goodwill	277,028	281,385	300,230
Trademarks, net of accumulated amortization of $5,372 at July 30, 2016, $5,039 at January 30, 2016 and $5,451 at August 1, 2015	86,035	86,740	82,651
Other intangibles, net of accumulated amortization of $16,303 at July 30, 2016, $15,947 at January 30, 2016 and $24,853 at August 1, 2015	3,123	3,569	10,274
Other noncurrent assets	43,201	45,123	38,267
Total Assets	1,581,313	1,541,190	1,683,888
Current Liabilities:
Accounts payable	269,371	154,241	271,021
Accrued employee compensation	23,529	23,666	25,296
Accrued other taxes	22,415	24,508	24,289
Accrued income taxes	4,288	16,349	58
Current portion – long-term debt	10,620	14,182	18,764
Other accrued liabilities	64,233	79,282	75,860
Provision for discontinued operations	13,249	11,389	10,483
Total current liabilities	407,705	323,617	425,771
Long-term debt	124,981	97,583	94,281
Pension liability	9,487	9,957	21,686
Deferred rent and other long-term liabilities	150,508	149,020	141,888
Provision for discontinued operations	1,713	4,230	4,247
Total liabilities	694,394	584,407	687,873
Commitments and contingent liabilities
Equity:
Non-redeemable preferred stock	1,071	1,077	1,266
Common equity:
Common stock, $1 par value: Authorized: 80,000,000 shares Issued/Outstanding: July 30, 2016 – 21,109,751/20,621,287, January 30, 2016 – 22,322,799/21,834,335, August 1, 2015 – 24,273,736/23,785,272	21,110	22,323	24,274
Additional paid-in capital	230,372	224,004	216,155
Retained earnings	697,768	768,222	806,498
Accumulated other comprehensive loss	(47,105)	(42,613)	(36,157)
Treasury shares, at cost (488,464 shares)	(17,857)	(17,857)	(17,857)
Total Genesco equity	885,359	955,156	994,179
Noncontrolling interest – non-redeemable	1,560	1,627	1,836
Total equity	886,919	956,783	996,015
Total Liabilities and Equity	$ 1,581,313	$ 1,541,190	$ 1,683,888

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jul. 30, 2016	Jan. 30, 2016	Aug. 01, 2015
Statement of Financial Position [Abstract]
Allowances on accounts receivable	$ 3,171	$ 2,960	$ 4,304
Accumulated amortization on trademarks	5,372	5,039	5,451
Accumulated amortization on other intangibles	$ 16,303	$ 15,947	$ 24,853
Common stock par value (in dollars per share)	$ 1	$ 1	$ 1
Common stock authorized (in shares)	80,000,000	80,000,000	80,000,000
Common stock issued (in shares)	21,109,751	22,322,799	24,273,736
Common stock outstanding (in shares)	20,621,287	21,834,335	23,785,272
Treasury shares, at cost (in shares)	488,464	488,464	488,464

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 30, 2016	Aug. 01, 2015	Jul. 30, 2016	Aug. 01, 2015
Income Statement [Abstract]
Net sales	$ 625,557	$ 655,525	$ 1,274,350	$ 1,316,122
Cost of sales	310,820	335,434	629,916	669,698
Selling and administrative expenses	302,662	306,422	610,905	613,855
Asset impairments and other, net	(7,945)	1,173	(4,388)	3,819
Earnings from operations	20,020	12,496	37,917	28,750
Gain on sale of Lids Team Sports	(2,485)	0	(2,485)	0
Interest expense, net:
Interest expense	1,316	945	2,479	1,605
Interest income	(10)	(17)	(36)	(32)
Total interest expense, net	1,306	928	2,443	1,573
Earnings from continuing operations before income taxes	21,199	11,568	37,959	27,177
Income tax expense	6,695	3,975	12,891	9,639
Earnings from continuing operations	14,504	7,593	25,068	17,538
Provision for discontinued operations, net	74	(73)	(80)	(140)
Net Earnings	$ 14,578	$ 7,520	$ 24,988	$ 17,398
Basic earnings per common share:
Continuing operations (in dollars per share)	$ 0.72	$ 0.32	$ 1.22	$ 0.74
Discontinued operations (in dollars per share)	0	0	0	0
Net earnings (in dollars per share)	0.72	0.32	1.22	0.74
Diluted earnings per common share:
Continuing operations (in dollars per share)	0.72	0.32	1.22	0.74
Discontinued operations (in dollars per share)	0	0	(0.01)	(0.01)
Net earnings (in dollars per share)	$ 0.72	$ 0.32	$ 1.21	$ 0.73

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 30, 2016	Aug. 01, 2015	Jul. 30, 2016	Aug. 01, 2015
Statement of Comprehensive Income [Abstract]
Net earnings	$ 14,578	$ 7,520	$ 24,988	$ 17,398
Other comprehensive income (loss):
Pension liability adjustments, net of tax of $0.1 million and $0.2 million for the three and six months ended July 30, 2016 and $0.5 million and $1.0 million for the three and six months ended August 1, 2015	118	727	256	1,552
Postretirement liability adjustments, net of tax of $0.0 million for both the three and six months ended July 30, 2016 and $0.0 million and ($0.3 million) for the three and six months ended August 1, 2015	15	29	30	(405)
Foreign currency translation adjustments	(13,376)	(695)	(4,778)	3,272
Total other comprehensive income (loss)	(13,243)	61	(4,492)	4,419
Comprehensive income	$ 1,335	$ 7,581	$ 20,496	$ 21,817

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2016	Aug. 01, 2015	Jul. 30, 2016	Aug. 01, 2015
Statement of Comprehensive Income [Abstract]
Pension liability adjustment, tax	$ 0.1	$ 0.5	$ 0.2	$ 1
Postretirement liability adjustment, tax	$ 0	$ 0	$ 0	$ (0.3)

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 30, 2016	Aug. 01, 2015	Jul. 30, 2016	Aug. 01, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings	$ 14,578	$ 7,520	$ 24,988	$ 17,398
Adjustments to reconcile net earnings to net cash (used in) provided by operating activities:
Depreciation and amortization	19,109	19,382	37,923	38,875
Amortization of deferred note expense and debt discount	212	210	426	382
Deferred income taxes	4,135	5,447	1,609	3,815
Provision (recoveries) on accounts receivable	81	(13)	247	(64)
Gain on sale of business	(2,485)	0	(2,485)	0
Impairment of long-lived assets	1,017	931	4,453	1,697
Restricted stock expense	3,367	3,409	6,653	6,900
Provision for discontinued operations	(120)	120	132	231
Tax benefit of stock options and restricted stock	(9)	(15)	(28)	(59)
Other	446	632	1,077	762
Effect on cash from changes in working capital and other assets and liabilities, net of acquisitions:
Accounts receivable	5,623	2,191	417	(2,822)
Inventories	(118,357)	(99,105)	(134,174)	(135,727)
Prepaids and other current assets	(10,726)	(12,965)	(9,143)	(17,239)
Accounts payable	97,691	37,727	120,890	78,919
Other accrued liabilities	(348)	(60,357)	(23,717)	(89,497)
Other assets and liabilities	(2,152)	209	1,340	1,261
Net cash provided by (used in) operating activities	12,062	(94,677)	30,608	(95,168)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(23,346)	(21,871)	(40,703)	(46,271)
Acquisitions, net of cash acquired	(22)	0	(22)	0
Proceeds from (payments related to) asset sales and sale of business	(545)	15	(545)	34
Net cash used in investing activities	(23,913)	(21,856)	(41,270)	(46,237)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments of long-term debt	(3,070)	(10,842)	(4,990)	(12,604)
Proceeds from issuance of long-term debt	0	27,417	0	27,417
Borrowings under revolving credit facility	69,994	82,140	69,994	82,140
Payments on revolving credit facility	(38,682)	(13,400)	(39,429)	(13,400)
Tax benefit of stock options and restricted stock	9	15	28	59
Share repurchases	(23,768)	(21,695)	(100,664)	(21,695)
Change in overdraft balances	6,595	10,486	(5,760)	15,179
Additions to deferred note cost	0	(639)	0	(639)
Exercise of stock options	513	211	573	576
Other	(143)	0	(283)	0
Net cash (used in) provided by financing activities	11,448	73,693	(80,531)	77,033
Effect of foreign exchange rate fluctuations on cash	(881)	1,951	(629)	502
Net Decrease in Cash and Cash Equivalents	(1,284)	(40,889)	(91,822)	(63,870)
Cash and cash equivalents at beginning of period	42,750	89,886	133,288	112,867
Cash and cash equivalents at end of period	41,466	48,997	41,466	48,997
Net cash paid (received) for:
Interest	1,086	444	1,884	925
Income taxes	$ 21,413	$ 21,212	$ 34,535	$ 33,782

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Total Non-Redeemable Preferred Stock	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Shares	Non Controlling Interest Non-Redeemable
Beginning Balance at Jan. 31, 2015	$ 998,777	$ 1,274	$ 24,515	$ 208,888	$ 820,563	$ (40,576)	$ (17,857)	$ 1,970
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	17,398
Other comprehensive loss	4,419
Shares repurchased	(27,500)
Ending Balance at Aug. 01, 2015	996,015
Beginning Balance at Jan. 31, 2015	998,777	1,274	24,515	208,888	820,563	(40,576)	(17,857)	1,970
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	94,569				94,569
Other comprehensive loss	(2,037)					(2,037)
Exercise of stock options	1,308		35	1,273
Issue shares – Employee Stock Purchase Plan	134		3	131
Employee and non-employee restricted stock	13,758			13,758
Restricted stock issuance			239	(239)
Restricted shares withheld for taxes	(4,408)		(66)	66	(4,408)
Tax benefit of stock options and restricted stock exercised	(90)			(90)
Shares repurchased	(144,885)		(2,383)		(142,502)
Other	0	(197)	(20)	217
Noncontrolling interest – loss	(343)							(343)
Ending Balance at Jan. 30, 2016	956,783	1,077	22,323	224,004	768,222	(42,613)	(17,857)	1,627
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	24,988				24,988
Other comprehensive loss	(4,492)					(4,492)
Exercise of stock options	573		15	558
Employee and non-employee restricted stock	6,653			6,653
Restricted stock issuance			226	(226)
Restricted shares withheld for taxes	(3,424)		(55)	55	(3,424)
Tax benefit of stock options and restricted stock exercised	(670)			(670)
Shares repurchased	(93,427)		(1,409)		(92,018)
Other	2	(6)	10	(2)
Noncontrolling interest – loss	(67)							(67)
Ending Balance at Jul. 30, 2016	$ 886,919	$ 1,071	$ 21,110	$ 230,372	$ 697,768	$ (47,105)	$ (17,857)	$ 1,560

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jul. 30, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Interim Statements The Condensed Consolidated Financial Statements and Notes contained in this report are unaudited but reflect all adjustments, consisting of only normal recurring adjustments, necessary for a fair presentation of the results for the interim periods of the fiscal year ending January 28, 2017 ("Fiscal 2017") and of the fiscal year ended January 30, 2016 ("Fiscal 2016"). The results of operations for any interim period are not necessarily indicative of results for the full year. The interim financial statements should be read in conjunction with the financial statements and notes thereto included in Genesco Inc.'s Annual Report on Form 10-K. Nature of Operations Genesco Inc. and its subsidiaries (collectively, the "Company") business includes the sourcing and design, marketing and distribution of footwear and accessories through retail stores in the U.S., Puerto Rico and Canada primarily under the Journeys, Journeys Kidz, Shi by Journeys, Little Burgundy, Underground by Journeys and Johnston & Murphy banners and under the Schuh banner in the United Kingdom, the Republic of Ireland and Germany; through e-commerce websites including the following: journeys.com, journeyskidz.com, shibyjourneys.com, schuh.co.uk, littleburgundyshoes.com, johnstonmurphy.com and trask.com and catalogs, and at wholesale, primarily under the Company's Johnston & Murphy brand, the Trask brand, the licensed Dockers brand and other brands that the Company licenses for footwear, and the Company's SureGrip ® line of slip-resistant, occupational footwear. The Company's business also includes Lids Sports Group, which operates headwear and accessory stores in the U.S. and Canada primarily under the Lids banner; the Lids Locker Room and Lids Clubhouse businesses, consisting of sports-oriented fan shops featuring a broad array of licensed merchandise such as apparel, hats and accessories, sports decor and novelty products, operating under various trade names; licensed team merchandise departments in Macy's department stores operated under the name Locker Room by Lids and on macys.com, under a license agreement with Macy's; certain e-commerce operations including lids.com, lids.ca, lidslockerroom.com and lidsclubhouse.com and shop.neweracap.com. Including both the footwear businesses and the Lids Sports Group business, at July 30, 2016, the Company operated 2,805 retail stores and leased departments in the U.S., Puerto Rico, Canada, the United Kingdom, the Republic of Ireland and Germany. During the six months ended July 30, 2016 and August 1, 2015, the Company operated five reportable business segments (not including corporate): (i) Journeys Group, comprised of the Journeys, Journeys Kidz, Shi by Journeys, Little Burgundy and Underground by Journeys retail footwear chains, e-commerce operations and catalog; (ii) Schuh Group, comprised of the Schuh retail footwear chain and e-commerce operations; (iii) Lids Sports Group, comprised as described in the preceding paragraph plus an athletic team dealer business operating as Lids Team Sports which was sold in the fourth quarter of Fiscal 2016; (iv) Johnston & Murphy Group, comprised of Johnston & Murphy retail operations, e-commerce and catalog operations and wholesale distribution of products under the Johnston & Murphy and Trask brands; and (v) Licensed Brands, comprised of Dockers ® Footwear, sourced and marketed under a license from Levi Strauss & Company; SureGrip ® Footwear, occupational footwear primarily sold directly to consumers; G.H. Bass Footwear operated under a license from G-III Apparel Group, Ltd.; and other brands. Note 1 Summary of Significant Accounting Policies, Continued Principles of Consolidation All subsidiaries are consolidated in the Condensed Consolidated Financial Statements. All significant intercompany transactions and accounts have been eliminated. Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant areas requiring management estimates or judgments include the following key financial areas: Inventory Valuation The Company values its inventories at the lower of cost or market. In its footwear wholesale operations and its Schuh Group segment, cost is determined using the FIFO method. Market value is determined using a system of analysis which evaluates inventory at the stock number level based on factors such as inventory turn, average selling price, inventory level, and selling prices reflected in future orders for footwear wholesale. The Company provides reserves when the inventory has not been marked down to market value based on current selling prices or when the inventory is not turning and is not expected to turn at levels satisfactory to the Company. The Lids Sports Group retail segment employs the moving average cost method for valuing inventories and apply freight using an allocation method. The Company provides a valuation allowance for slow-moving inventory based on negative margins and estimated shrink based on historical experience and specific analysis, where appropriate. In its retail operations, other than the Schuh Group and Lids Sports Group segments, the Company employs the retail inventory method, applying average cost-to-retail ratios to the retail value of inventories. Under the retail inventory method, valuing inventory at the lower of cost or market is achieved as markdowns are taken or accrued as a reduction of the retail value of inventories. Inherent in the retail inventory method are subjective judgments and estimates, including merchandise mark-on, markups, markdowns, and shrinkage. These judgments and estimates, coupled with the fact that the retail inventory method is an averaging process, could produce a range of cost figures. To reduce the risk of inaccuracy and to ensure consistent presentation, the Company employs the retail inventory method in multiple subclasses of inventory with similar gross margins, and analyzes markdown requirements at the stock number level based on factors such as inventory turn, average selling price, and inventory age. In addition, the Company accrues Note 1 Summary of Significant Accounting Policies, Continued markdowns as necessary. These additional markdown accruals reflect all of the above factors as well as current agreements to return products to vendors and vendor agreements to provide markdown support. In addition to markdown provisions, the Company maintains provisions for shrinkage and damaged goods based on historical rates. Inherent in the analysis of both wholesale and retail inventory valuation are subjective judgments about current market conditions, fashion trends, and overall economic conditions. Failure to make appropriate conclusions regarding these factors may result in an overstatement or understatement of inventory value. Impairment of Long-Lived Assets The Company periodically assesses the realizability of its long-lived assets, other than goodwill, and evaluates such assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Asset impairment is determined to exist if estimated future cash flows, undiscounted and without interest charges, are less than the carrying amount. Inherent in the analysis of impairment are subjective judgments about future cash flows. Failure to make appropriate conclusions regarding these judgments may result in an overstatement or understatement of the value of long-lived assets. See also Notes 3 and 5. The goodwill impairment test involves performing a qualitative assessment, on a reporting unit level, based on current circumstances. If the results of the qualitative assessment indicate that it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, a two-step impairment test will not be performed. However, if the results of the qualitative assessment indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then a two-step impairment test is performed. Alternatively, the Company may elect to bypass the qualitative assessment and proceed directly to the two-step impairment test, on a reporting unit level basis. The first step is a comparison of the fair value and carrying value of the business unit with which the goodwill is associated. The Company estimates fair value using the best information available, and computes the fair value derived by an income approach utilizing discounted cash flow projections. The income approach uses a projection of a reporting unit’s estimated operating results and cash flows that is discounted using a weighted-average cost of capital that reflects current market conditions. A key assumption in the Company’s fair value estimate is the weighted average cost of capital utilized for discounting its cash flow projections in its income approach. The Company believes the rate it used in its latest annual test, which was completed at the end of the fourth quarter of Fiscal 2016, was consistent with the risks inherent in its business and with industry discount rates. The projection uses management’s best estimates of economic and market conditions over the projected period including growth rates in sales, costs, estimates of future expected changes in operating margins and cash expenditures. Other significant estimates and assumptions include terminal value growth rates, future estimates of capital expenditures and changes in future working capital requirements. Note 1 Summary of Significant Accounting Policies, Continued If the carrying value of the reporting unit is higher than its fair value, there is an indication that impairment may exist and the second step must be performed to measure the amount of impairment loss. The amount of impairment is determined by comparing the implied fair value of reporting unit goodwill to the carrying value of the goodwill in the same manner as if the reporting unit was being acquired in a business combination. Specifically, the Company would allocate the fair value of the reporting unit to all of the assets and liabilities of the reporting unit, including any unrecognized intangible assets, in a hypothetical analysis that would calculate the implied fair value of goodwill. If the implied fair value of goodwill is less than the recorded goodwill, the Company would record an impairment charge for the difference. Environmental and Other Contingencies The Company is subject to certain loss contingencies related to environmental proceedings and other legal matters. The Company has made pretax accruals for certain of these contingencies, including approximately $0.0 million and $0.1 million for the second quarter of Fiscal 2017 and 2016, respectively, and $0.1 million and $0.2 million for the first six months of Fiscal 2017 and 2016, respectively. These charges (gains) are included in provision for discontinued operations, net in the Condensed Consolidated Statements of Operations because they relate to former facilities operated by the Company. The Company monitors these matters on an ongoing basis and, on a quarterly basis, management reviews the Company’s accruals, adjusting provisions as management deems necessary in view of changes in available information. Changes in estimates of liability are reported in the periods when they occur. Consequently, management believes that its accrued liability in relation to each proceeding is a best estimate of probable loss connected to the proceeding, or in cases in which no best estimate is possible, the minimum amount in the range of estimated losses, based upon its analysis of the facts and circumstances as of the close of the most recent fiscal quarter. However, because of uncertainties and risks inherent in litigation generally and in environmental proceedings in particular, there can be no assurance that future developments will not require additional provisions, that some or all reserves will be adequate or that the amounts of any such additional provisions or any such inadequacy will not have a material adverse effect upon the Company’s financial condition, cash flows, or results of operations. See also Notes 3 and 8. Revenue Recognition Retail sales are recorded at the point of sale and are net of estimated returns and exclude sales and value added taxes. Catalog and internet sales are recorded at estimated time of delivery to the customer and are net of estimated returns and exclude sales and value added taxes. Wholesale revenue is recorded net of estimated returns and allowances for markdowns, damages and miscellaneous claims when the related goods have been shipped and legal title has passed to the customer. Shipping and handling costs charged to customers are included in net sales. Estimated returns are based on historical returns and claims. Historically, actual amounts of markdowns have not differed materially from estimates. Actual returns and claims in any future period may differ from historical experience. Note 1 Summary of Significant Accounting Policies, Continued Income Taxes As part of the process of preparing the Condensed Consolidated Financial Statements, the Company is required to estimate its income taxes in each of the tax jurisdictions in which it operates. This process involves estimating current tax obligations together with assessing temporary differences resulting from differing treatment of certain items for tax and accounting purposes, such as depreciation of property and equipment and valuation of inventories. These temporary differences result in deferred tax assets and liabilities, which are included within the Condensed Consolidated Balance Sheets. The Company then assesses the likelihood that its deferred tax assets will be recovered from future taxable income or other sources. Actual results could differ from this assessment if adequate taxable income is not generated in future periods. To the extent the Company believes that recovery of an asset is at risk, valuation allowances are established. To the extent valuation allowances are established or increased in a period, the Company includes an expense within the tax provision in the Condensed Consolidated Statements of Operations. These deferred tax valuation allowances may be released in future years when management considers that it is more likely than not that some portion or all of the deferred tax assets will be realized. In making such a determination, management will need to periodically evaluate whether or not all available evidence, such as future taxable income and reversal of temporary differences, tax planning strategies, and recent results of operations, provides sufficient positive evidence to offset any potential negative evidence that may exist at such time. In the event the deferred tax valuation allowance is released, the Company would record an income tax benefit for the portion or all of the deferred tax valuation allowance released. At July 30, 2016, the Company had a deferred tax valuation allowance of $3.1 million . Income tax reserves for uncertain tax positions are determined using the methodology required by the Income Tax Topic of the Accounting Standards Codification ("Codification"). This methodology requires companies to assess each income tax position taken using a two step process. A determination is first made as to whether it is more likely than not that the position will be sustained, based upon the technical merits, upon examination by the taxing authorities. If the tax position is expected to meet the more likely than not criteria, the benefit recorded for the tax position equals the largest amount that is greater than 50% likely to be realized upon ultimate settlement of the respective tax position. Uncertain tax positions require determinations and estimated liabilities to be made based on provisions of the tax law which may be subject to change or varying interpretation. If the Company’s determinations and estimates prove to be inaccurate, the resulting adjustments could be material to its future financial results. The Company recorded an effective income tax rate of 31.6% in the second quarter of Fiscal 2017 compared to 34.4% for the same period last year and 34.0% and 35.5% for the first six months of Fiscal 2017 and 2016, respectively. The lower effective rate in Fiscal 2017 reflects the reversal of previously recorded charges related to a formerly uncertain tax position as a result of a vacated tax assessment. Note 1 Summary of Significant Accounting Policies, Continued Postretirement Benefits Plan Accounting Full-time employees who had at least 1000 hours of service in calendar year 2004, except employees in the Lids Sports Group and Schuh Group segments, are covered by a defined benefit pension plan. The Company froze the defined benefit pension plan effective January 1, 2005. The Company also provides certain former employees with medical and life insurance benefits. The Company funds at least the minimum amount required by the Employee Retirement Income Security Act. As required by the Compensation – Retirement Benefits Topic of the Codification, the Company is required to recognize the overfunded or underfunded status of postretirement benefit plans as an asset or liability in its Condensed Consolidated Balance Sheets and to recognize changes in that funded status in accumulated other comprehensive loss, net of tax, in the year in which the changes occur. The Company recognizes pension expense on an accrual basis over employees’ approximate service periods. The calculation of pension expense and the corresponding liability requires the use of a number of critical assumptions, including the expected long-term rate of return on plan assets and the assumed discount rate, as well as the recognition of actuarial gains and losses. Changes in these assumptions can result in different expense and liability amounts, and future actual experience can differ from these assumptions. The Company utilizes a calculated value of assets, which is an averaging method that recognizes changes in the fair values of assets over a period of five years. Accounting principles generally accepted in the United States require that the Company recognize a portion of these losses when they exceed a calculated threshold. These losses might be recognized as a component of pension expense in future years and would be amortized over the average future service of employees, which is currently approximately 9.67 years . Cash and Cash Equivalents The Company had total available cash and cash equivalents of $41.5 million , $133.3 million and $49.0 million as of July 30, 2016, January 30, 2016 and August 1, 2015, respectively, of which approximately $11.8 million , $24.1 million and $17.4 million was held by the Company's foreign subsidiaries as of July 30, 2016, January 30, 2016 and August 1, 2015, respectively. The Company's strategic plan does not require the repatriation of foreign cash in order to fund its operations in the U.S., and it is the Company's current intention to permanently reinvest its foreign cash and cash equivalents outside of the U.S. If the Company were to repatriate foreign cash to the U.S., it would be required to accrue and pay U.S. taxes in accordance with applicable U.S. tax rules and regulations as a result of the repatriation. There were no cash equivalents included in cash and cash equivalents at July 30, 2016, January 30, 2016 and August 1, 2015. Cash equivalents are highly-liquid financial instruments having an original maturity of three months or less. At July 30, 2016, substantially all of the Company’s domestic cash was invested in deposit accounts at FDIC-insured banks. The majority of payments due from banks for domestic customer Note 1 Summary of Significant Accounting Policies, Continued credit card transactions process within 24 - 48 hours and are accordingly classified as cash and cash equivalents in the Condensed Consolidated Balance Sheets. At July 30, 2016, January 30, 2016 and August 1, 2015, outstanding checks drawn on zero-balance accounts at certain domestic banks exceeded book cash balances at those banks by approximately $39.2 million , $45.0 million and $60.8 million , respectively. These amounts are included in accounts payable in the Condensed Consolidated Balance Sheets. Concentration of Credit Risk and Allowances on Accounts Receivable The Company’s footwear wholesale businesses sell primarily to independent retailers and department stores across the United States. Receivables arising from these sales are not collateralized. Customer credit risk is affected by conditions or occurrences within the economy and the retail industry as well as by customer specific factors. In the footwear wholesale businesses, two customers each accounted for 10% and two customers each accounted for 9% of the Company’s total trade receivables balance, while no other customer accounted for more than 7% of the Company’s total trade receivables balance as of July 30, 2016. The Company establishes an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends and other information, as well as customer-specific factors. The Company also establishes allowances for sales returns, customer deductions and co-op advertising based on specific circumstances, historical trends and projected probable outcomes. Property and Equipment Property and equipment are recorded at cost and depreciated or amortized over the estimated useful life of related assets. Depreciation and amortization expense are computed principally by the straight-line method over the following estimated useful lives: Buildings and building equipment 20-45 years Computer hardware, software and equipment 3-10 years Furniture and fixtures 10 years Depreciation expense related to property and equipment was approximately $18.9 million and $18.7 million for the three months ended July 30, 2016 and August 1, 2015, respectively, and $37.4 million and $37.5 million for the six months ended July 30, 2016 and August 1, 2015, respectively. Leases Leasehold improvements and properties under capital leases are amortized on the straight-line method over the shorter of their useful lives or their related lease terms and the charge to earnings is included in selling and administrative expenses in the Condensed Consolidated Statements of Operations. Note 1 Summary of Significant Accounting Policies, Continued Certain leases include rent increases during the initial lease term. For these leases, the Company recognizes the related rental expense on a straight-line basis over the term of the lease (which includes any rent holidays and the pre-opening period of construction, renovation, fixturing and merchandise placement) and records the difference between the amounts charged to operations and amounts paid as deferred rent. The Company occasionally receives reimbursements from landlords to be used towards construction of the store the Company intends to lease. Leasehold improvements are recorded at their gross costs including items reimbursed by landlords. The reimbursements are amortized as a reduction of rent expense over the initial lease term. Tenant allowances of $25.4 million , $25.4 million and $23.2 million at July 30, 2016, January 30, 2016 and August 1, 2015, respectively, and deferred rent of $49.7 million , $48.0 million and $46.9 million at July 30, 2016, January 30, 2016 and August 1, 2015, respectively, are included in deferred rent and other long-term liabilities on the Condensed Consolidated Balance Sheets. The Condensed Consolidated Balance Sheets include asset retirement obligations related to leases of $10.4 million , $10.6 million and $10.5 million as of July 30, 2016, January 30, 2016 and August 1, 2015, respectively. Acquisitions Acquisitions are accounted for using the Business Combinations Topic of the Codification. The total purchase price is allocated to the assets acquired and liabilities assumed based on their estimated fair values at acquisition. Goodwill and Other Intangibles Under the provisions of the Intangibles – Goodwill and Other Topic of the Codification, goodwill and intangible assets with indefinite lives are not amortized, but are tested at least annually for impairment. The Company will update the tests between annual tests if events or circumstances occur that would more likely than not reduce the fair value of the business unit with which the goodwill is associated below its carrying amount. It is also required that intangible assets with finite lives be amortized over their respective lives to their estimated residual values and reviewed for impairment in accordance with the Property, Plant and Equipment Topic of the Codification. Intangible assets of the Company with indefinite lives are primarily goodwill and identifiable trademarks acquired in connection with the acquisition of Little Burgundy in December 2015, Schuh Group Ltd. in June 2011, Hat World Corporation in April 2004 and various other small acquisitions. The Condensed Consolidated Balance Sheets include goodwill of $181.8 million for the Lids Sports Group, $9.9 million for the Journeys Group, $84.5 million for the Schuh Group and $0.8 million for Licensed Brands at July 30, 2016, $180.9 million for the Lids Sports Group, $9.4 million for Journeys Group, $90.3 million for the Schuh Group and $0.8 million for Licensed Brands at January 30, 2016 and $199.8 million for the Lids Sports Group, $99.6 million for the Schuh Group and $0.8 million for Licensed Brands at August 1, 2015. The Company tests for impairment of intangible assets with an indefinite life, relying on a number of factors including operating results, business plans, projected future cash flows and observable market data. The impairment test for identifiable Note 1 Summary of Significant Accounting Policies, Continued assets not subject to amortization consists of a comparison of the fair value of the intangible asset with its carrying amount. The Company has not had an impairment charge for intangible assets. In connection with acquisitions, the Company records goodwill on its Condensed Consolidated Balance Sheets. This asset is not amortized but is subject to an impairment assessment at least annually, based on projected future cash flows from the acquired business discounted at a rate commensurate with the risk the Company considers to be inherent in its current business model. The Company performs the impairment test annually as of the close of its fiscal year, or more frequently if events or circumstances indicate that the value of the asset might be impaired. The Company has not recorded an impairment charge for goodwill. Identifiable intangible assets of the Company with finite lives are trademarks, customer lists, in-place leases, non-compete agreements and a vendor contract. They are subject to amortization based upon their estimated useful lives. Finite-lived intangible assets are evaluated for impairment using a process similar to that used to evaluate other definite-lived long-lived assets, a comparison of the fair value of the intangible asset with its carrying amount. An impairment loss is recognized for the amount by which the carrying value exceeds the fair value of the asset. Fair Value of Financial Instruments The carrying amounts and fair values of the Company’s financial instruments at July 30, 2016 and January 30, 2016 are as follows: Fair Values In thousands July 30, 2016 January 30, 2016 Carrying Amount Fair Value Carrying Amount Fair Value U.S. Revolver Borrowings $ 94,314 $ 94,240 $ 58,344 $ 58,480 UK Term Loans 22,038 22,338 28,603 28,901 UK Revolver Borrowings 19,249 19,235 24,818 24,630 Debt fair values were estimated using a discounted cash flow analysis based on current market interest rates for similar types of financial instruments and would be classified in Level 2 as defined in Note 5. Carrying amounts reported on the Condensed Consolidated Balance Sheets for cash, cash equivalents, receivables and accounts payable approximate fair value due to the short-term maturity of these instruments. Cost of Sales For the Company’s retail operations, the cost of sales includes actual product cost, the cost of transportation to the Company’s warehouses from suppliers and the cost of transportation from the Company’s warehouses to the stores. Additionally, the cost of its distribution facilities allocated to its retail operations is included in cost of sales. Note 1 Summary of Significant Accounting Policies, Continued For the Company’s wholesale operations, the cost of sales includes the actual product cost and the cost of transportation to the Company’s warehouses from suppliers. Selling and Administrative Expenses Selling and administrative expenses include all operating costs of the Company excluding (i) those related to the transportation of products from the supplier to the warehouse, (ii) for its retail operations, those related to the transportation of products from the warehouse to the store and (iii) costs of its distribution facilities which are allocated to its retail operations. Wholesale costs of distribution are included in selling and administrative expenses on the Condensed Consolidated Statements of Operations in the amount of $1.4 million and $2.2 million for the second quarters of Fiscal 2017 and 2016, respectively, and $3.0 million and $4.6 million for the first six months of Fiscal 2017 and 2016, respectively. Gift Cards The Company has a gift card program that began in calendar year 1999 for its Lids Sports Group operations and calendar year 2000 for its footwear operations. The gift cards issued to date do not expire. As such, the Company recognizes income when: (i) the gift card is redeemed by the customer; or (ii) the likelihood of the gift card being redeemed by the customer for the purchase of goods in the future is remote and there are no related escheat laws (referred to as “breakage”). The gift card breakage rate is based upon historical redemption patterns and income is recognized for unredeemed gift cards in proportion to those historical redemption patterns. Gift card breakage is recognized in revenues each period for which financial statements are updated. Gift card breakage recognized as revenue was $0.1 million for each of the second quarters of Fiscal 2017 and 2016 and $0.3 million for each of the first six months of Fiscal 2017 and 2016. The Condensed Consolidated Balance Sheets include an accrued liability for gift cards of $15.0 million , $16.9 million and $14.1 million at July 30, 2016, January 30, 2016 and August 1, 2015, respectively. Buying, Merchandising and Occupancy Costs The Company records buying, merchandising and occupancy costs in selling and administrative expense on the Condensed Consolidated Statements of Operations. Because the Company does not include these costs in cost of sales, the Company’s gross margin may not be comparable to other retailers that include these costs in the calculation of gross margin. Retail store occupancy costs recorded in selling and administrative expense were $112.2 million and $107.6 million for the second quarters of Fiscal 2017 and 2016, respectively, and $223.4 million and $213.5 million for the first six months of Fiscal 2017 and 2016, respectively. Shipping and Handling Costs Shipping and handling costs related to inventory purchased from suppliers are included in the cost of inventory and are charged to cost of sales in the period that the inventory is sold. All other shipping and handling costs are charged to cost of sales in the period incurred except for wholesale and unallocated retail costs of distribution, which are included in selling and administrative expenses on the Condensed Consolidated Statements of Operations. Note 1 Summary of Significant Accounting Policies, Continued Preopening Costs Costs associated with the opening of new stores are expensed as incurred, and are included in selling and administrative expenses on the accompanying Condensed Consolidated Statements of Operations. Store Closings and Exit Costs From time to time, the Company makes strategic decisions to close stores or exit locations or activities. A discon

Intangible Assets and Sale of B

Intangible Assets and Sale of Business	6 Months Ended
	Jul. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Sale of Business	Intangible Assets and Sale of Business Other intangibles by major classes were as follows: Leases Customer Lists Other* Total (In Thousands) Jul. 30, 2016 Jan. 30, 2016 Jul. 30, 2016 Jan. 30, 2016 Jul. 30, 2016 Jan. 30, 2016 Jul. 30, 2016 Jan. 30, 2016 Gross other intangibles $ 14,840 $ 14,841 $ 2,532 $ 2,622 $ 2,054 $ 2,053 $ 19,426 $ 19,516 Accumulated amortization (12,859 ) (12,637 ) (2,253 ) (2,264 ) (1,191 ) (1,046 ) (16,303 ) (15,947 ) Net Other Intangibles $ 1,981 $ 2,204 $ 279 $ 358 $ 863 $ 1,007 $ 3,123 $ 3,569 *Includes non-compete agreements, vendor contract and backlog. The amortization of intangibles, including trademarks, was $0.2 million and $0.8 million for the second quarters of Fiscal 2017 and 2016, respectively, and $0.5 million and $1.5 million for the first six months of Fiscal 2017 and 2016, respectively. The amortization of intangibles, including trademarks, is expected to be $0.9 million , $0.2 million , $0.2 million , $0.1 million and $0.1 million for Fiscal 2017, 2018, 2019, 2020 and 2021, respectively. Sale of Business The Company recognized a pretax gain of $2.5 million during the second quarter of Fiscal 2017 on the sale of Lids Team Sports related to final working capital adjustments.

Asset Impairments and Other Cha

Asset Impairments and Other Charges and Discontinued Operations	6 Months Ended
	Jul. 30, 2016
Asset Impairments and Other Charges and Discontinued Operations [Abstract]
Asset Impairments and Other Charges and Discontinued Operations	Asset Impairments and Other Charges and Discontinued Operations Asset Impairments and Other Charges In accordance with Company policy, assets are determined to be impaired when the revised estimated future cash flows are insufficient to recover the carrying costs. Impairment charges represent the excess of the carrying value over the fair value of those assets. Asset impairment charges are reflected as a reduction of the net carrying value of property and equipment in the accompanying Condensed Consolidated Balance Sheets, and in asset impairments and other, net in the accompanying Condensed Consolidated Statements of Operations. The Company recorded a pretax gain of $(7.9) million in the second quarter of Fiscal 2017, including a $(9.0) million gain for network intrusion expenses related to a litigation settlement, partially offset by a $1.0 million charge for retail store asset impairments. The Company recorded a pretax gain of $(4.4) million in the first six months of Fiscal 2017, including an $(8.9) million gain for network intrusion expenses related to a litigation settlement (see Note 8), partially offset by a $4.5 million charge for retail store asset impairments and $0.1 million for other legal matters. The Company recorded pretax charges of $1.2 million in the second quarter of Fiscal 2016, including a $0.9 million charge for retail store asset impairments and a $0.2 million charge for network intrusion expenses. The Company recorded pretax charges of $3.8 million in the first six months of Fiscal 2016, including charges of $2.0 million for network intrusion expenses, $1.7 million for retail store asset impairments and $0.1 million for other legal matters. Discontinued Operations Accrued Provision for Discontinued Operations In thousands Facility Shutdown Costs Balance January 31, 2015 $ 14,759 Additional provision Fiscal 2016 1,333 Charges and adjustments, net (473 ) Balance January 30, 2016 15,619 Additional provision Fiscal 2017 132 Charges and adjustments, net (789 ) Balance July 30, 2016* 14,962 Current provision for discontinued operations 13,249 Total Noncurrent Provision for Discontinued Operations $ 1,713 *Includes a $14.3 million environmental provision, including $13.2 million in current provision for discontinued operations.

Inventories

Inventories	6 Months Ended
	Jul. 30, 2016
Inventory Disclosure [Abstract]
Inventories	Inventories In thousands July 30, 2016 January 30, 2016 Raw materials $ 409 $ 469 Wholesale finished goods 65,080 58,773 Retail merchandise 598,219 470,516 Total Inventories $ 663,708 $ 529,758

Fair Value

Fair Value	6 Months Ended
	Jul. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value	Fair Value The Fair Value Measurements and Disclosures Topic of the Codification defines fair value, establishes a framework for measuring fair value in accordance with U.S. generally accepted accounting principles and expands disclosures about fair value measurements. This Topic defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (i.e., an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. It also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level 1 - Quoted prices in active markets for identical assets or liabilities. Level 2 - Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The following table presents the Company’s assets (which excludes the Company's pension plan assets) and liabilities measured at fair value on a nonrecurring basis as of July 30, 2016 aggregated by the level in the fair value hierarchy within which those measurements fall (in thousands): Long-Lived Assets Held and Used Level 1 Level 2 Level 3 Total Losses Measured as of April 30, 2016 $ 694 $ — $ — $ 694 $ 3,436 Measured as of July 30, 2016 618 — — 618 1,017 Sub-total asset impairment YTD $ 4,453 In accordance with the Property, Plant and Equipment Topic of the Codification, the Company recorded $1.0 million and $4.5 million of impairment charges as a result of the fair value measurement of its long-lived assets held and used on a nonrecurring basis during the three and six Note 5 Fair Value, Continued months ended July 30, 2016, respectively. These charges are reflected in asset impairments and other, net on the Condensed Consolidated Statements of Operations. The Company used a discounted cash flow model to estimate the fair value of these long-lived assets. Discount rate and growth rate assumptions are derived from current economic conditions, expectations of management and projected trends of current operating results. As a result, the Company has determined that the majority of the inputs used to value its long-lived assets held and used are unobservable inputs that fall within Level 3 of the fair value hierarchy.

Defined Benefit Pension Plans a

Defined Benefit Pension Plans and Other Benefit Plans	6 Months Ended
	Jul. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Defined Benefit Pension Plans and Other Benefit Plans	Defined Benefit Pension Plans and Other Benefit Plans Components of Net Periodic Benefit Cost Pension Benefits Other Benefits Three Months Ended Three Months Ended In thousands July 30, 2016 August 1, 2015 July 30, 2016 August 1, 2015 Service cost $ 137 $ 112 $ 165 $ 209 Interest cost 1,028 1,062 66 62 Expected return on plan assets (1,410 ) (1,446 ) — — Amortization: Losses 195 1,197 25 48 Net amortization 195 1,197 25 48 Net Periodic Benefit Cost (Gain) $ (50 ) $ 925 $ 256 $ 319 Components of Net Periodic Benefit Cost Pension Benefits Other Benefits Six Months Ended Six Months Ended In thousands July 30, 2016 August 1, 2015 July 30, 2016 August 1, 2015 Service cost $ 275 $ 225 $ 330 $ 419 Interest cost 2,062 2,140 132 123 Expected return on plan assets (2,822 ) (2,895 ) — — Amortization: Losses 421 2,554 50 96 Net amortization 421 2,554 50 96 Net Periodic Benefit Cost (Gain) $ (64 ) $ 2,024 $ 512 $ 638 There is no cash contribution required for the pension plan in 2016. Note 6 Defined Benefit Pension Plans and Other Benefit Plans, Continued The actual net periodic pension cost for Fiscal 2017 is less than estimated due primarily to updating the average years of future service from 9.0 years to 9.67 years . The change resulted in lower amortization which was included in expense. As a result, the expected benefit payments in the future have changed. Expected benefit payments from the trust, including future service and pay, are as follows: Estimated future payments Pension Benefits ($ in millions) 2017 $ 7.9 2018 7.7 2019 7.6 2020 7.4 2021 7.2 2022 - 2026 32.7 Pension Plan Buyout In June 2016, the Company's board of directors authorized an offer to terminated vested participants in the Company's defined benefits pension plan to buy out their future benefits under the plan for a lump sum cash payment. The Company anticipates making the buyout offer in the fourth quarter of Fiscal 2017.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jul. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share For the Three Months Ended For the Three Months Ended July 30, 2016 August 1, 2015 (In thousands, except per share amounts) Income (Numerator) Shares (Denominator) Per Share Amount Income (Numerator) Shares (Denominator) Per Share Amount Earnings from continuing operations $ 14,504 $ 7,593 Basic EPS from continuing operations Income available to common shareholders 14,504 20,195 $ 0.72 7,593 23,538 $ 0.32 Effect of Dilutive Securities from continuing operations Dilutive share-based awards 11 33 Employees' preferred stock (1) 38 45 Diluted EPS from continuing operations Income available to common shareholders plus assumed conversions $ 14,504 20,244 $ 0.72 $ 7,593 23,616 $ 0.32 (1) The Company's Employees' Subordinated Convertible Preferred Stock is convertible one for one to the Company's common stock. Because no dividends are paid on this stock, these shares are assumed to be converted in the diluted earnings per share calculations for the second quarters ended July 30, 2016 and August 1, 2015. Note 7 Earnings Per Share, Continued For the Six Months Ended For the Six Months Ended July 30, 2016 August 1, 2015 (In thousands, except Income Shares Per Share Income Shares Per Share Earnings from continuing operations $ 25,068 $ 17,538 Basic EPS from continuing operations Income available to common shareholders 25,068 20,505 $ 1.22 17,538 23,544 $ 0.74 Effect of Dilutive Securities from Dilutive share-based awards 74 106 Employees' preferred stock(1) 38 45 Diluted EPS from continuing operations Income available to common shareholders plus assumed conversions $ 25,068 20,617 $ 1.22 $ 17,538 23,695 $ 0.74 (1) The Company's Employees' Subordinated Convertible Preferred Stock is convertible one for one to the Company's common stock. Because no dividends are paid on this stock, these shares are assumed to be converted in the diluted earnings per share calculations for the first six months ended July 30, 2016 and August 1, 2015. The Company repurchased 309,105 shares of common stock during the three months ended July 30, 2016 for $20.0 million and repurchased 1,409,005 shares of common stock during the six months ended July 30, 2016 for $93.4 million . The Company has $80.0 million remaining under its current $100.0 million share repurchase authorization announced in May 2016. The Company repurchased 424,384 shares of common stock during the three and six months ended August 1, 2015 for $27.5 million .

Legal Proceedings

Legal Proceedings	6 Months Ended
	Jul. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings	Legal Proceedings Environmental Matters New York State Environmental Matters In August 1997, the New York State Department of Environmental Conservation (“NYSDEC”) and the Company entered into a consent order whereby the Company assumed responsibility for conducting a remedial investigation and feasibility study (“RIFS”) and implementing an interim remedial measure (“IRM”) with regard to the site of a knitting mill operated by a former subsidiary of the Company from 1965 to 1969. The Company undertook the IRM and RIFS voluntarily, without admitting liability or accepting responsibility for any future remediation of the site. The United States Environmental Protection Agency (“EPA”), which has assumed primary regulatory responsibility for the site from NYSDEC, issued a Record of Decision in September 2007. The Record of Decision specified a remedy of a combination of groundwater extraction and treatment and in-situ chemical oxidation. In July 2009, the Company agreed to a Consent Order with the EPA requiring the Company to perform certain remediation actions, operations, maintenance and monitoring at the site. In September 2009, a Consent Judgment embodying the Consent Order was filed in the U.S. District Court for the Eastern District of New York. In September 2015, the EPA adopted an amendment to the 2007 Record of Decision by eliminating the separate ground-water extraction and treatment systems and the use of in-situ oxidation from the remedy adopted in the 2007 Record of Decision. The amendment provides for the continued operation and maintenance of the existing wellhead treatment systems on wells operated by the Village of Garden City, New York (the "Village"). It also requires the Company to perform certain ongoing monitoring, operation and maintenance activities and to reimburse EPA's future oversight cost, involving future costs to the Company estimated at $1.7 million to $2.0 million , and to reimburse EPA for approximately $1.25 million of interim oversight costs. On August 15, 2016, the Court entered a Consent Judgment implementing the remedy provided for by the amendment. The Village additionally asserted that the Company is liable for the costs associated with enhanced treatment required by the impact of the groundwater plume from the site on two public water supply wells, including historical total costs ranging from approximately $1.8 million to in excess of $2.5 million , and future operation and maintenance costs which the Village estimates at $126,400 annually while the enhanced treatment continues. On December 14, 2007, the Village filed a complaint (the "Village Lawsuit") against the Company and the owner of the property under the Resource Conservation and Recovery Act (“RCRA”), the Safe Drinking Water Act, and the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”) as well as a number of state law theories in the U.S. District Court for the Eastern District of New York, seeking an injunction requiring the defendants to remediate contamination from the site and to establish their liability for future costs that may be incurred in connection with it, which the complaint alleges could exceed $41 million , undiscounted, over a 70 -year period. Note 8 Legal Proceedings, Continued In June 2016 the Company and the Village reached an agreement providing for the Village to continue to operate and maintain the well head treatment systems in accordance with the Record of Decision and to release its claims against the Company asserted in the Village Lawsuit in exchange for a lump-sum payment of $10.0 million by the Company. On August 25, 2016, the Village Lawsuit was dismissed with prejudice. The cost of the settlement with the Village and the estimated costs associated with the Company's compliance with the Consent Judgment were covered by the Company's existing provision for the site. The settlement with the Village did not have, and the Company expects that the Consent Judgment will not have, a material effect on its financial condition or results of operations. In April 2015, the Company received from EPA a Notice of Potential Liability and Demand for Costs pursuant to CERCLA regarding the site in Gloversville, New York of a former leather tannery operated by the Company and by other, unrelated parties. The Notice demanded payment of approximately $2.2 million of response costs claimed by EPA to have been incurred to conduct assessments and removal activities at the site. The Company's environmental insurance carrier is providing defense of the matter subject to a $500,000 self-insured retention and the other terms and conditions of the insurance policy, subject to a standard reservation of rights. The Company does not expect that the matter will have a material effect on its financial condition or results of operations. Whitehall Environmental Matters The Company has performed sampling and analysis of soil, sediments, surface water, groundwater and waste management areas at the Company's former Volunteer Leather Company facility in Whitehall, Michigan. In October 2010, the Company and the Michigan Department of Natural Resources and Environment entered into a Consent Decree providing for implementation of a remedial Work Plan for the facility site designed to bring the site into compliance with applicable regulatory standards. The Work Plan's implementation is substantially complete and the Company expects, based on its present understanding of the condition of the site, that its future obligations with respect to the site will be limited to periodic monitoring and that future costs related to the site should not have a material effect on its financial condition or results of operations. Note 8 Legal Proceedings, Continued Accrual for Environmental Contingencies Related to all outstanding environmental contingencies, the Company had accrued $14.3 million as of July 30, 2016, $14.5 million as of January 30, 2016 and $14.1 million as of August 1, 2015. All such provisions reflect the Company's estimates of the most likely cost (undiscounted, including both current and noncurrent portions) of resolving the contingencies, based on facts and circumstances as of the time they were made. The Company paid $10.0 million of the accrued total at July 30, 2016 in August 2016. There is no assurance that relevant facts and circumstances will not change, necessitating future changes to the provisions. Such contingent liabilities are included in the liability arising from provision for discontinued operations on the accompanying Condensed Consolidated Balance Sheets because it relates to former facilities operated by the Company. The Company has made pretax accruals for certain of these contingencies, including approximately $0.0 million and $0.1 million reflected in the second quarters Fiscal 2017 and Fiscal 2016, respectively, and $0.1 million and $0.2 million reflected in the first six months of Fiscal 2017 and 2016, respectively. These charges are included in provision for discontinued operations, net in the Condensed Consolidated Statements of Operations and represent changes in estimates. Other Matters On December 10, 2010, the Company announced that it had suffered a criminal intrusion into the portion of its computer network that processes payments for transactions in certain of its retail stores. Visa, Inc., MasterCard Worldwide and American Express Travel Related Services Company, Inc. have asserted claims totaling approximately $15.6 million in connection with the intrusion and the claims of two of the claimants have been collected by withholding payment card receivables of the Company. In the fourth quarter of Fiscal 2013, the Company recorded a $15.4 million charge to earnings in connection with the disputed liability. On March 7, 2013, the Company filed an action in the U.S. District Court for the Middle District of Tennessee against Visa U.S.A. Inc., Visa Inc. and Visa International Service Association (collectively, "Visa") seeking to recover $13.3 million in non-compliance fines and issuer reimbursement assessments collected from the Company in connection with the intrusion. In May 2016, the Company and Visa reached an agreement to settle the litigation. The Company recognized a pretax gain of $9.0 million in connection with the settlement in the second quarter of Fiscal 2017. On April 30, 2015, an employee of a subsidiary of the Company filed an action, Stewart v. Hat World, Inc., et al., under the California Labor Code Private Attorneys General Act on behalf of herself, the State of California, and other non-exempt, hourly-paid employees of the subsidiary in California, seeking unspecified damages and penalties for various alleged violations of the California Labor Code, including failure to pay for all hours worked, minimum wage and overtime violations, failure to provide required meal and rest periods, failure to timely pay wages, failure to provide complete and accurate wage statements, and failure to provide full reimbursement of business-related costs and expenses incurred in the course of employment. The Company disputes the material allegations in the complaint and intends to defend the matter. Note 8 Legal Proceedings, Continued On March 3, 2016, plaintiffs filed an action Lacey, et al. v. Genesco Inc., in the U.S. District Court for the Western District of Pennsylvania, alleging that certain of the Company's internet websites are inaccessible to the blind, in violation of the Americans With Disabilities Act. The suit sought injunctive relief and attorneys' fees. The matter was settled in the second quarter of Fiscal 2017. The settlement did not have a material effect on the Company's financial condition or results of operations. On April 22, 2016, and May 19, 2016, plaintiffs filed putative class actions ( Nahas v. Hatworld, Inc., Murray v. Genesco Inc., and Rando v. Hatworld, Inc. ) in the U.S. District Court for New Jersey alleging that certain provisions of the Company's terms and conditions on its e-commerce websites violate the New Jersey Truth-in-Consumer Contract, Warranty and Notice Act and seeking statutory penalties and attorneys fees. The matters were settled in the second quarter of Fiscal 2017. The settlements did not have a material effect on the Company's financial condition or results of operations. In addition to the matters specifically described in this Note, the Company is a party to other legal and regulatory proceedings and claims arising in the ordinary course of its business. While management does not believe that the Company's liability with respect to any of these other matters is likely to have a material effect on its financial statements, legal proceedings are subject to inherent uncertainties and unfavorable rulings could have a material adverse impact on the Company's financial statements.

Business Segment Information

Business Segment Information	6 Months Ended
	Jul. 30, 2016
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information During the six months ended July 30, 2016 and August 1, 2015, the Company operated five reportable business segments (not including corporate): (i) Journeys Group, comprised of the Journeys, Journeys Kidz, Shi by Journeys, Little Burgundy and Underground by Journeys retail footwear chains, e-commerce operations and catalog; (ii) Schuh Group, comprised of the Schuh retail footwear chain and e-commerce operations; (iii) Lids Sports Group, comprised primarily of the Lids retail headwear stores, the Lids Locker Room and Lids Clubhouse fan shops (operated under various trade names), licensed team merchandise departments in Macy's department stores operated under the name of Locker Room by Lids under a license agreement with Macy's, certain e-commerce operations and an athletic team dealer business operating as Lids Team Sports which was sold in the fourth quarter of Fiscal 2016; (iv) Johnston & Murphy Group, comprised of Johnston & Murphy retail operations, e-commerce operations, catalog and wholesale distribution of products under the Johnston & Murphy and Trask brands; and (v) Licensed Brands, comprised of Dockers Footwear, sourced and marketed under a license from Levi Strauss & Company; SureGrip Footwear, occupational footwear primarily sold directly to consumers; G.H. Bass Footwear operated under a license from G-III Apparel Group, Ltd.; and other brands. The accounting policies of the segments are the same as those described in the summary of significant accounting policies (see Note 1). The Company's reportable segments are based on management's organization of the segments in order to make operating decisions and assess performance along types of products sold. Journeys Group, Schuh Group and Lids Sports Group sell primarily branded products from other companies while Johnston & Murphy Group and Licensed Brands sell primarily the Company's owned and licensed brands. Corporate assets include cash, domestic prepaid rent expense, prepaid income taxes, deferred income taxes, deferred note expense on revolver debt and corporate fixed assets. The Company charges allocated retail costs of distribution to each segment. The Company does not allocate certain costs to each segment in order to make decisions and assess performance. These costs include corporate overhead, interest expense, interest income, asset impairment charges and other, including major litigation and major lease terminations. Note 9 Business Segment Information, Continued Three Months Ended July 30, 2016 Journeys Group Schuh Group Lids Sports Group Johnston & Murphy Group Licensed Brands Corporate & Other Consolidated In thousands Sales $ 252,134 $ 96,960 $ 188,912 $ 65,151 $ 22,673 $ 300 $ 626,130 Intercompany Sales — — — — (573 ) — (573 ) Net sales to external customers $ 252,134 $ 96,960 $ 188,912 $ 65,151 $ 22,100 $ 300 $ 625,557 Segment operating income (loss) $ 4,481 $ 5,693 $ 7,132 $ 2,255 $ 234 $ (7,720 ) $ 12,075 Asset Impairments and other* — — — — — 7,945 7,945 Earnings (loss) from operations 4,481 5,693 7,132 2,255 234 225 20,020 Gain on sale of Lids Team Sports — — — — — 2,485 2,485 Interest expense — — — — — (1,316 ) (1,316 ) Interest income — — — — — 10 10 Earnings (loss) from continuing operations before income taxes $ 4,481 $ 5,693 $ 7,132 $ 2,255 $ 234 $ 1,404 $ 21,199 Total assets** $ 451,154 $ 232,812 $ 545,216 $ 128,487 $ 47,071 $ 176,573 $ 1,581,313 Depreciation and amortization 5,950 3,809 6,592 1,483 257 1,018 19,109 Capital expenditures 15,632 3,566 731 3,183 196 38 23,346 *Asset Impairments and other includes a $1.0 million charge for asset impairments, which relates primarily to the Lids Sports Group, and a $(9.0) million gain for network intrusion expenses related to a litigation settlement. **Total assets for the Lids Sports Group, Schuh Group, Journeys Group and Licensed Brands include $181.8 million , $84.5 million , $9.9 million and $0.8 million of goodwill, respectively. Goodwill for the Lids Sports Group and Journeys Group increased by $0.9 million and $0.5 million , respectively, from January 30, 2016 and Schuh Group goodwill decreased by $5.8 million from January 30, 2016 due to foreign currency translation adjustments. Of the Company's $321.2 million of property and equipment, $60.2 million and $20.2 million relate to property and equipment in the United Kingdom and Canada, respectively. Note 9 Business Segment Information, Continued Three Months Ended August 1, 2015 Journeys Group Schuh Group Lids Sports Group Johnston & Murphy Group Licensed Brands Corporate & Other Consolidated In thousands Sales $ 247,177 103,204 $ 222,425 $ 60,822 $ 22,150 $ 162 $ 655,940 Intercompany Sales — — (207 ) — (208 ) — (415 ) Net sales to external customers $ 247,177 $ 103,204 $ 222,218 $ 60,822 $ 21,942 $ 162 $ 655,525 Segment operating income (loss) $ 9,228 $ 4,892 $ 5,593 $ 846 $ 1,158 $ (8,048 ) $ 13,669 Asset Impairments and other* — — — — — (1,173 ) (1,173 ) Earnings (loss) from operations 9,228 4,892 5,593 846 1,158 (9,221 ) 12,496 Interest expense — — — — — (945 ) (945 ) Interest income — — — — — 17 17 Earnings (loss) from continuing operations before income taxes $ 9,228 $ 4,892 $ 5,593 $ 846 $ 1,158 $ (10,149 ) $ 11,568 Total assets** $ 387,714 266,461 $ 695,233 $ 114,577 $ 42,375 $ 177,528 $ 1,683,888 Depreciation and amortization 5,328 3,775 7,513 1,391 212 1,163 19,382 Capital expenditures 6,796 2,894 9,699 1,748 195 539 21,871 *Asset Impairments and other includes a $0.9 million charge for assets impairments, of which $0.5 million relates to the Lids Sports Group and $0.4 million relates to the Schuh Group, and a $0.2 million charge for network intrusion expenses. **Total assets for the Lids Sports Group, Schuh Group and Licensed Brands include $199.8 million , $99.6 million and $0.8 million of goodwill, respectively. The Schuh Group goodwill increased by $3.6 million from January 31, 2015 due to foreign currency translation adjustments. Of the Company's $310.4 million of property and equipment, $64.5 million and $13.5 million relate to property and equipment in the United Kingdom and Canada, respectively. Note 9 Business Segment Information, Continued Six Months Ended July 30, 2016 Journeys Group Schuh Group Lids Sports Group Johnston & Murphy Group Licensed Brands Corporate & Other Consolidated In thousands Sales $ 546,355 $ 172,630 $ 368,288 $ 135,126 $ 52,317 $ 385 $ 1,275,101 Intercompany Sales — — — — (751 ) — (751 ) Net sales to external customers $ 546,355 $ 172,630 $ 368,288 $ 135,126 $ 51,566 $ 385 $ 1,274,350 Segment operating income (loss) $ 24,101 $ 3,032 $ 13,169 $ 7,097 $ 2,087 $ (15,957 ) $ 33,529 Asset Impairments and other* — — — — — 4,388 4,388 Earnings (loss) from operations 24,101 3,032 13,169 7,097 2,087 (11,569 ) 37,917 Gain on sale of Lids Team Sports — — — — — 2,485 2,485 Interest expense — — — — — (2,479 ) (2,479 ) Interest income — — — — — 36 36 Earnings (loss) from continuing operations before income taxes $ 24,101 $ 3,032 $ 13,169 $ 7,097 $ 2,087 $ (11,527 ) $ 37,959 Total assets** $ 451,154 $ 232,812 $ 545,216 $ 128,487 $ 47,071 $ 176,573 $ 1,581,313 Depreciation and amortization 12,012 7,494 12,935 2,947 507 2,028 37,923 Capital expenditures 22,929 6,407 5,609 5,178 348 232 40,703 *Asset Impairments and other includes an $(8.9) million gain for network intrusion expenses related to a litigation settlement, a $4.5 million charge for asset impairments, of which $4.4 million is in the Lids Sports Group and $0.1 million is in the Journeys Group, and a $0.1 million charge for other legal matters. **Total assets for the Lids Sports Group, Schuh Group, Journeys Group and Licensed Brands include $181.8 million , $84.5 million , $9.9 million and $0.8 million of goodwill, respectively. Goodwill for the Lids Sports Group and Journeys Group increased by $0.9 million and $0.5 million , respectively, from January 30, 2016 and Schuh Group goodwill decreased by $5.8 million from January 30, 2016 due to foreign currency translation adjustments. Of the Company's $321.2 million of property and equipment, $60.2 million and $20.2 million relate to property and equipment in the United Kingdom and Canada, respectively. Note 9 Business Segment Information, Continued Six Months Ended August 1, 2015 Journeys Group Schuh Group Lids Sports Group Johnston & Murphy Group Licensed Brands Corporate & Other Consolidated In thousands Sales 525,809 181,766 429,015 127,184 52,896 297 $ 1,316,967 Intercompany Sales — — (468 ) — (377 ) — (845 ) Net sales to external customers $ 525,809 $ 181,766 $ 428,547 $ 127,184 $ 52,519 $ 297 $ 1,316,122 Segment operating income (loss) 33,650 2,231 2,196 4,823 4,181 (14,512 ) $ 32,569 Asset Impairments and other* — — — — — (3,819 ) (3,819 ) Earnings (loss) from operations 33,650 2,231 2,196 4,823 4,181 (18,331 ) 28,750 Interest expense — — — — — (1,605 ) (1,605 ) Interest income — — — — — 32 32 Earnings (loss) from continuing operations before income taxes $ 33,650 $ 2,231 $ 2,196 $ 4,823 $ 4,181 $ (19,904 ) $ 27,177 Total assets** 387,714 266,461 695,233 114,577 42,375 177,528 $ 1,683,888 Depreciation and amortization 10,788 7,288 15,231 2,756 427 2,385 38,875 Capital expenditures 13,775 6,036 20,488 4,488 329 1,155 46,271 *Asset Impairments and other includes a $2.0 million charge for network intrusion expenses, a $1.7 million charge for asset impairments, of which $1.3 million is in the Lids Sports Group and $0.4 million is in the Schuh Group, and a $0.1 million charge for other legal matters. **Total assets for the Lids Sports Group, Schuh Group and Licensed Brands include $199.8 million , $99.6 million and $0.8 million of goodwill, respectively. The Schuh Group goodwill increased by $3.6 million from January 31, 2015 due to foreign currency translation adjustments. Of the Company's $310.4 million of property and equipment, $64.5 million and $13.5 million relate to property and equipment in the United Kingdom and Canada, respectively.

Summary of Significant Accoun18

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jul. 30, 2016
Accounting Policies [Abstract]
Nature of Operations	Genesco Inc. and its subsidiaries (collectively, the "Company") business includes the sourcing and design, marketing and distribution of footwear and accessories through retail stores in the U.S., Puerto Rico and Canada primarily under the Journeys, Journeys Kidz, Shi by Journeys, Little Burgundy, Underground by Journeys and Johnston & Murphy banners and under the Schuh banner in the United Kingdom, the Republic of Ireland and Germany; through e-commerce websites including the following: journeys.com, journeyskidz.com, shibyjourneys.com, schuh.co.uk, littleburgundyshoes.com, johnstonmurphy.com and trask.com and catalogs, and at wholesale, primarily under the Company's Johnston & Murphy brand, the Trask brand, the licensed Dockers brand and other brands that the Company licenses for footwear, and the Company's SureGrip ® line of slip-resistant, occupational footwear. The Company's business also includes Lids Sports Group, which operates headwear and accessory stores in the U.S. and Canada primarily under the Lids banner; the Lids Locker Room and Lids Clubhouse businesses, consisting of sports-oriented fan shops featuring a broad array of licensed merchandise such as apparel, hats and accessories, sports decor and novelty products, operating under various trade names; licensed team merchandise departments in Macy's department stores operated under the name Locker Room by Lids and on macys.com, under a license agreement with Macy's; certain e-commerce operations including lids.com, lids.ca, lidslockerroom.com and lidsclubhouse.com and shop.neweracap.com. Including both the footwear businesses and the Lids Sports Group business, at July 30, 2016, the Company operated 2,805 retail stores and leased departments in the U.S., Puerto Rico, Canada, the United Kingdom, the Republic of Ireland and Germany. During the six months ended July 30, 2016 and August 1, 2015, the Company operated five reportable business segments (not including corporate): (i) Journeys Group, comprised of the Journeys, Journeys Kidz, Shi by Journeys, Little Burgundy and Underground by Journeys retail footwear chains, e-commerce operations and catalog; (ii) Schuh Group, comprised of the Schuh retail footwear chain and e-commerce operations; (iii) Lids Sports Group, comprised as described in the preceding paragraph plus an athletic team dealer business operating as Lids Team Sports which was sold in the fourth quarter of Fiscal 2016; (iv) Johnston & Murphy Group, comprised of Johnston & Murphy retail operations, e-commerce and catalog operations and wholesale distribution of products under the Johnston & Murphy and Trask brands; and (v) Licensed Brands, comprised of Dockers ® Footwear, sourced and marketed under a license from Levi Strauss & Company; SureGrip ® Footwear, occupational footwear primarily sold directly to consumers; G.H. Bass Footwear operated under a license from G-III Apparel Group, Ltd.; and other brands.
Principles of Consolidation	All subsidiaries are consolidated in the Condensed Consolidated Financial Statements. All significant intercompany transactions and accounts have been eliminated.
Use of Estimates	The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant areas requiring management estimates or judgments include the following key financial areas: Inventory Valuation The Company values its inventories at the lower of cost or market. In its footwear wholesale operations and its Schuh Group segment, cost is determined using the FIFO method. Market value is determined using a system of analysis which evaluates inventory at the stock number level based on factors such as inventory turn, average selling price, inventory level, and selling prices reflected in future orders for footwear wholesale. The Company provides reserves when the inventory has not been marked down to market value based on current selling prices or when the inventory is not turning and is not expected to turn at levels satisfactory to the Company. The Lids Sports Group retail segment employs the moving average cost method for valuing inventories and apply freight using an allocation method. The Company provides a valuation allowance for slow-moving inventory based on negative margins and estimated shrink based on historical experience and specific analysis, where appropriate. In its retail operations, other than the Schuh Group and Lids Sports Group segments, the Company employs the retail inventory method, applying average cost-to-retail ratios to the retail value of inventories. Under the retail inventory method, valuing inventory at the lower of cost or market is achieved as markdowns are taken or accrued as a reduction of the retail value of inventories. Inherent in the retail inventory method are subjective judgments and estimates, including merchandise mark-on, markups, markdowns, and shrinkage. These judgments and estimates, coupled with the fact that the retail inventory method is an averaging process, could produce a range of cost figures. To reduce the risk of inaccuracy and to ensure consistent presentation, the Company employs the retail inventory method in multiple subclasses of inventory with similar gross margins, and analyzes markdown requirements at the stock number level based on factors such as inventory turn, average selling price, and inventory age. In addition, the Company accrues Note 1 Summary of Significant Accounting Policies, Continued markdowns as necessary. These additional markdown accruals reflect all of the above factors as well as current agreements to return products to vendors and vendor agreements to provide markdown support. In addition to markdown provisions, the Company maintains provisions for shrinkage and damaged goods based on historical rates. Inherent in the analysis of both wholesale and retail inventory valuation are subjective judgments about current market conditions, fashion trends, and overall economic conditions. Failure to make appropriate conclusions regarding these factors may result in an overstatement or understatement of inventory value. Impairment of Long-Lived Assets The Company periodically assesses the realizability of its long-lived assets, other than goodwill, and evaluates such assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Asset impairment is determined to exist if estimated future cash flows, undiscounted and without interest charges, are less than the carrying amount. Inherent in the analysis of impairment are subjective judgments about future cash flows. Failure to make appropriate conclusions regarding these judgments may result in an overstatement or understatement of the value of long-lived assets. See also Notes 3 and 5. The goodwill impairment test involves performing a qualitative assessment, on a reporting unit level, based on current circumstances. If the results of the qualitative assessment indicate that it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, a two-step impairment test will not be performed. However, if the results of the qualitative assessment indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then a two-step impairment test is performed. Alternatively, the Company may elect to bypass the qualitative assessment and proceed directly to the two-step impairment test, on a reporting unit level basis. The first step is a comparison of the fair value and carrying value of the business unit with which the goodwill is associated. The Company estimates fair value using the best information available, and computes the fair value derived by an income approach utilizing discounted cash flow projections. The income approach uses a projection of a reporting unit’s estimated operating results and cash flows that is discounted using a weighted-average cost of capital that reflects current market conditions. A key assumption in the Company’s fair value estimate is the weighted average cost of capital utilized for discounting its cash flow projections in its income approach. The Company believes the rate it used in its latest annual test, which was completed at the end of the fourth quarter of Fiscal 2016, was consistent with the risks inherent in its business and with industry discount rates. The projection uses management’s best estimates of economic and market conditions over the projected period including growth rates in sales, costs, estimates of future expected changes in operating margins and cash expenditures. Other significant estimates and assumptions include terminal value growth rates, future estimates of capital expenditures and changes in future working capital requirements. Note 1 Summary of Significant Accounting Policies, Continued If the carrying value of the reporting unit is higher than its fair value, there is an indication that impairment may exist and the second step must be performed to measure the amount of impairment loss. The amount of impairment is determined by comparing the implied fair value of reporting unit goodwill to the carrying value of the goodwill in the same manner as if the reporting unit was being acquired in a business combination. Specifically, the Company would allocate the fair value of the reporting unit to all of the assets and liabilities of the reporting unit, including any unrecognized intangible assets, in a hypothetical analysis that would calculate the implied fair value of goodwill. If the implied fair value of goodwill is less than the recorded goodwill, the Company would record an impairment charge for the difference. Environmental and Other Contingencies The Company is subject to certain loss contingencies related to environmental proceedings and other legal matters. The Company has made pretax accruals for certain of these contingencies, including approximately $0.0 million and $0.1 million for the second quarter of Fiscal 2017 and 2016, respectively, and $0.1 million and $0.2 million for the first six months of Fiscal 2017 and 2016, respectively. These charges (gains) are included in provision for discontinued operations, net in the Condensed Consolidated Statements of Operations because they relate to former facilities operated by the Company. The Company monitors these matters on an ongoing basis and, on a quarterly basis, management reviews the Company’s accruals, adjusting provisions as management deems necessary in view of changes in available information. Changes in estimates of liability are reported in the periods when they occur. Consequently, management believes that its accrued liability in relation to each proceeding is a best estimate of probable loss connected to the proceeding, or in cases in which no best estimate is possible, the minimum amount in the range of estimated losses, based upon its analysis of the facts and circumstances as of the close of the most recent fiscal quarter. However, because of uncertainties and risks inherent in litigation generally and in environmental proceedings in particular, there can be no assurance that future developments will not require additional provisions, that some or all reserves will be adequate or that the amounts of any such additional provisions or any such inadequacy will not have a material adverse effect upon the Company’s financial condition, cash flows, or results of operations. See also Notes 3 and 8. Revenue Recognition Retail sales are recorded at the point of sale and are net of estimated returns and exclude sales and value added taxes. Catalog and internet sales are recorded at estimated time of delivery to the customer and are net of estimated returns and exclude sales and value added taxes. Wholesale revenue is recorded net of estimated returns and allowances for markdowns, damages and miscellaneous claims when the related goods have been shipped and legal title has passed to the customer. Shipping and handling costs charged to customers are included in net sales. Estimated returns are based on historical returns and claims. Historically, actual amounts of markdowns have not differed materially from estimates. Actual returns and claims in any future period may differ from historical experience. Note 1 Summary of Significant Accounting Policies, Continued Income Taxes As part of the process of preparing the Condensed Consolidated Financial Statements, the Company is required to estimate its income taxes in each of the tax jurisdictions in which it operates. This process involves estimating current tax obligations together with assessing temporary differences resulting from differing treatment of certain items for tax and accounting purposes, such as depreciation of property and equipment and valuation of inventories. These temporary differences result in deferred tax assets and liabilities, which are included within the Condensed Consolidated Balance Sheets. The Company then assesses the likelihood that its deferred tax assets will be recovered from future taxable income or other sources. Actual results could differ from this assessment if adequate taxable income is not generated in future periods. To the extent the Company believes that recovery of an asset is at risk, valuation allowances are established. To the extent valuation allowances are established or increased in a period, the Company includes an expense within the tax provision in the Condensed Consolidated Statements of Operations. These deferred tax valuation allowances may be released in future years when management considers that it is more likely than not that some portion or all of the deferred tax assets will be realized. In making such a determination, management will need to periodically evaluate whether or not all available evidence, such as future taxable income and reversal of temporary differences, tax planning strategies, and recent results of operations, provides sufficient positive evidence to offset any potential negative evidence that may exist at such time. In the event the deferred tax valuation allowance is released, the Company would record an income tax benefit for the portion or all of the deferred tax valuation allowance released. At July 30, 2016, the Company had a deferred tax valuation allowance of $3.1 million . Income tax reserves for uncertain tax positions are determined using the methodology required by the Income Tax Topic of the Accounting Standards Codification ("Codification"). This methodology requires companies to assess each income tax position taken using a two step process. A determination is first made as to whether it is more likely than not that the position will be sustained, based upon the technical merits, upon examination by the taxing authorities. If the tax position is expected to meet the more likely than not criteria, the benefit recorded for the tax position equals the largest amount that is greater than 50% likely to be realized upon ultimate settlement of the respective tax position. Uncertain tax positions require determinations and estimated liabilities to be made based on provisions of the tax law which may be subject to change or varying interpretation. If the Company’s determinations and estimates prove to be inaccurate, the resulting adjustments could be material to its future financial results. The Company recorded an effective income tax rate of 31.6% in the second quarter of Fiscal 2017 compared to 34.4% for the same period last year and 34.0% and 35.5% for the first six months of Fiscal 2017 and 2016, respectively. The lower effective rate in Fiscal 2017 reflects the reversal of previously recorded charges related to a formerly uncertain tax position as a result of a vacated tax assessment. Note 1 Summary of Significant Accounting Policies, Continued Postretirement Benefits Plan Accounting Full-time employees who had at least 1000 hours of service in calendar year 2004, except employees in the Lids Sports Group and Schuh Group segments, are covered by a defined benefit pension plan. The Company froze the defined benefit pension plan effective January 1, 2005. The Company also provides certain former employees with medical and life insurance benefits. The Company funds at least the minimum amount required by the Employee Retirement Income Security Act. As required by the Compensation – Retirement Benefits Topic of the Codification, the Company is required to recognize the overfunded or underfunded status of postretirement benefit plans as an asset or liability in its Condensed Consolidated Balance Sheets and to recognize changes in that funded status in accumulated other comprehensive loss, net of tax, in the year in which the changes occur. The Company recognizes pension expense on an accrual basis over employees’ approximate service periods. The calculation of pension expense and the corresponding liability requires the use of a number of critical assumptions, including the expected long-term rate of return on plan assets and the assumed discount rate, as well as the recognition of actuarial gains and losses. Changes in these assumptions can result in different expense and liability amounts, and future actual experience can differ from these assumptions. The Company utilizes a calculated value of assets, which is an averaging method that recognizes changes in the fair values of assets over a period of five years. Accounting principles generally accepted in the United States require that the Company recognize a portion of these losses when they exceed a calculated threshold. These losses might be recognized as a component of pension expense in future years and would be amortized over the average future service of employees, which is currently approximately 9.67 years .
Cash and Cash Equivalents	The Company's strategic plan does not require the repatriation of foreign cash in order to fund its operations in the U.S., and it is the Company's current intention to permanently reinvest its foreign cash and cash equivalents outside of the U.S. If the Company were to repatriate foreign cash to the U.S., it would be required to accrue and pay U.S. taxes in accordance with applicable U.S. tax rules and regulations as a result of the repatriation. There were no cash equivalents included in cash and cash equivalents at July 30, 2016, January 30, 2016 and August 1, 2015. Cash equivalents are highly-liquid financial instruments having an original maturity of three months or less. At July 30, 2016, substantially all of the Company’s domestic cash was invested in deposit accounts at FDIC-insured banks. The majority of payments due from banks for domestic customer Note 1 Summary of Significant Accounting Policies, Continued credit card transactions process within 24 - 48 hours and are accordingly classified as cash and cash equivalents in the Condensed Consolidated Balance Sheets.
Concentration of Credit Risk and Allowances on Accounts Receivable	The Company’s footwear wholesale businesses sell primarily to independent retailers and department stores across the United States. Receivables arising from these sales are not collateralized. Customer credit risk is affected by conditions or occurrences within the economy and the retail industry as well as by customer specific factors. In the footwear wholesale businesses, two customers each accounted for 10% and two customers each accounted for 9% of the Company’s total trade receivables balance, while no other customer accounted for more than 7% of the Company’s total trade receivables balance as of July 30, 2016. The Company establishes an allowance for doubtful accounts based upon factors surrounding the credit risk of specific customers, historical trends and other information, as well as customer-specific factors. The Company also establishes allowances for sales returns, customer deductions and co-op advertising based on specific circumstances, historical trends and projected probable outcomes.
Property and Equipment	Property and equipment are recorded at cost and depreciated or amortized over the estimated useful life of related assets. Depreciation and amortization expense are computed principally by the straight-line method over the following estimated useful lives: Buildings and building equipment 20-45 years Computer hardware, software and equipment 3-10 years Furniture and fixtures 10 years
Leases	Leasehold improvements and properties under capital leases are amortized on the straight-line method over the shorter of their useful lives or their related lease terms and the charge to earnings is included in selling and administrative expenses in the Condensed Consolidated Statements of Operations. Note 1 Summary of Significant Accounting Policies, Continued Certain leases include rent increases during the initial lease term. For these leases, the Company recognizes the related rental expense on a straight-line basis over the term of the lease (which includes any rent holidays and the pre-opening period of construction, renovation, fixturing and merchandise placement) and records the difference between the amounts charged to operations and amounts paid as deferred rent. The Company occasionally receives reimbursements from landlords to be used towards construction of the store the Company intends to lease. Leasehold improvements are recorded at their gross costs including items reimbursed by landlords. The reimbursements are amortized as a reduction of rent expense over the initial lease term.
Acquisition	Acquisitions are accounted for using the Business Combinations Topic of the Codification. The total purchase price is allocated to the assets acquired and liabilities assumed based on their estimated fair values at acquisition.
Goodwill and Other Intangibles	Under the provisions of the Intangibles – Goodwill and Other Topic of the Codification, goodwill and intangible assets with indefinite lives are not amortized, but are tested at least annually for impairment. The Company will update the tests between annual tests if events or circumstances occur that would more likely than not reduce the fair value of the business unit with which the goodwill is associated below its carrying amount. It is also required that intangible assets with finite lives be amortized over their respective lives to their estimated residual values and reviewed for impairment in accordance with the Property, Plant and Equipment Topic of the Codification. Intangible assets of the Company with indefinite lives are primarily goodwill and identifiable trademarks acquired in connection with the acquisition of Little Burgundy in December 2015, Schuh Group Ltd. in June 2011, Hat World Corporation in April 2004 and various other small acquisitions. The Condensed Consolidated Balance Sheets include goodwill of $181.8 million for the Lids Sports Group, $9.9 million for the Journeys Group, $84.5 million for the Schuh Group and $0.8 million for Licensed Brands at July 30, 2016, $180.9 million for the Lids Sports Group, $9.4 million for Journeys Group, $90.3 million for the Schuh Group and $0.8 million for Licensed Brands at January 30, 2016 and $199.8 million for the Lids Sports Group, $99.6 million for the Schuh Group and $0.8 million for Licensed Brands at August 1, 2015. The Company tests for impairment of intangible assets with an indefinite life, relying on a number of factors including operating results, business plans, projected future cash flows and observable market data. The impairment test for identifiable Note 1 Summary of Significant Accounting Policies, Continued assets not subject to amortization consists of a comparison of the fair value of the intangible asset with its carrying amount. The Company has not had an impairment charge for intangible assets. In connection with acquisitions, the Company records goodwill on its Condensed Consolidated Balance Sheets. This asset is not amortized but is subject to an impairment assessment at least annually, based on projected future cash flows from the acquired business discounted at a rate commensurate with the risk the Company considers to be inherent in its current business model. The Company performs the impairment test annually as of the close of its fiscal year, or more frequently if events or circumstances indicate that the value of the asset might be impaired. The Company has not recorded an impairment charge for goodwill. Identifiable intangible assets of the Company with finite lives are trademarks, customer lists, in-place leases, non-compete agreements and a vendor contract. They are subject to amortization based upon their estimated useful lives. Finite-lived intangible assets are evaluated for impairment using a process similar to that used to evaluate other definite-lived long-lived assets, a comparison of the fair value of the intangible asset with its carrying amount. An impairment loss is recognized for the amount by which the carrying value exceeds the fair value of the asset.
Fair Value of Financial Instruments	Debt fair values were estimated using a discounted cash flow analysis based on current market interest rates for similar types of financial instruments and would be classified in Level 2 as defined in Note 5. Carrying amounts reported on the Condensed Consolidated Balance Sheets for cash, cash equivalents, receivables and accounts payable approximate fair value due to the short-term maturity of these instruments.
Cost of Sales	For the Company’s retail operations, the cost of sales includes actual product cost, the cost of transportation to the Company’s warehouses from suppliers and the cost of transportation from the Company’s warehouses to the stores. Additionally, the cost of its distribution facilities allocated to its retail operations is included in cost of sales. Note 1 Summary of Significant Accounting Policies, Continued For the Company’s wholesale operations, the cost of sales includes the actual product cost and the cost of transportation to the Company’s warehouses from suppliers.
Selling and Administrative Expenses	Selling and administrative expenses include all operating costs of the Company excluding (i) those related to the transportation of products from the supplier to the warehouse, (ii) for its retail operations, those related to the transportation of products from the warehouse to the store and (iii) costs of its distribution facilities which are allocated to its retail operations.
Gift Cards	The Company has a gift card program that began in calendar year 1999 for its Lids Sports Group operations and calendar year 2000 for its footwear operations. The gift cards issued to date do not expire. As such, the Company recognizes income when: (i) the gift card is redeemed by the customer; or (ii) the likelihood of the gift card being redeemed by the customer for the purchase of goods in the future is remote and there are no related escheat laws (referred to as “breakage”). The gift card breakage rate is based upon historical redemption patterns and income is recognized for unredeemed gift cards in proportion to those historical redemption patterns. Gift card breakage is recognized in revenues each period for which financial statements are updated.
Buying, Merchandising and Occupancy Costs	The Company records buying, merchandising and occupancy costs in selling and administrative expense on the Condensed Consolidated Statements of Operations. Because the Company does not include these costs in cost of sales, the Company’s gross margin may not be comparable to other retailers that include these costs in the calculation of gross margin.
Shipping and Handling Costs	Shipping and handling costs related to inventory purchased from suppliers are included in the cost of inventory and are charged to cost of sales in the period that the inventory is sold. All other shipping and handling costs are charged to cost of sales in the period incurred except for wholesale and unallocated retail costs of distribution, which are included in selling and administrative expenses on the Condensed Consolidated Statements of Operations.
Preopening Costs	Costs associated with the opening of new stores are expensed as incurred, and are included in selling and administrative expenses on the accompanying Condensed Consolidated Statements of Operations.
Store Closings and Exit Costs	From time to time, the Company makes strategic decisions to close stores or exit locations or activities. A discontinued operation may include a component of an entity or a group of components of an entity that represent a strategic shift that has or will have a major effect on an entity's operation or financial results. If stores or operating activities to be closed or exited constitute a component or group of components that represent a strategic shift in the Company's operations, these closures will be considered discontinued operations. The results of operations of discontinued operations are presented retroactively, net of tax, as a separate component on the Condensed Consolidated Statements of Operations. In each of the periods presented, no store closings have met the discontinued operations criteria. Assets related to planned store closures or other exit activities are reflected as assets held for sale and recorded at the lower of carrying value or fair value less costs to sell when the required criteria, as defined by the Property, Plant and Equipment Topic of the Codification, are satisfied. Depreciation ceases on the date that the held for sale criteria are met. Assets related to planned store closures or other exit activities that do not meet the criteria to be classified as held for sale are evaluated for impairment in accordance with the Company’s normal impairment policy, but with consideration given to revised estimates of future cash flows. In any event, the remaining depreciable useful lives are evaluated and adjusted as necessary. Exit costs related to anticipated lease termination costs, severance benefits and other expected charges are accrued for and recognized in accordance with the Exit or Disposal Cost Obligations Topic of the Codification.
Advertising Costs	Advertising costs are predominantly expensed as incurred. Advertising costs were $15.7 million and $14.9 million for the second quarters of Fiscal 2017 and 2016, respectively, and $32.4 million and $32.1 million for the first six months of Fiscal 2017 and 2016, respectively. Direct response advertising costs for catalogs are capitalized in accordance with the Other Assets and Deferred Costs Topic for Capitalized Advertising Costs of the Codification. Such costs are amortized over the estimated future period as revenues are realized from such advertising, not to exceed six months.
Consideration to Resellers	In its wholesale businesses, the Company does not have any written buy-down programs with retailers, but the Company has provided certain retailers with markdown allowances for obsolete and slow moving products that are in the retailer’s inventory. The Company estimates these allowances and provides for them as reductions to revenues at the time revenues are recorded. Markdowns are negotiated with retailers and changes are made to the estimates as agreements are reached. Actual amounts for markdowns have not differed materially from estimates.
Cooperative Advertising	Cooperative advertising funds are made available to most of the Company’s wholesale footwear customers. In order for retailers to receive reimbursement under such programs, the retailer must meet specified advertising guidelines and provide appropriate documentation of expenses to be reimbursed. The Company’s cooperative advertising agreements require that wholesale customers present documentation or other evidence of specific advertisements or display materials used for the Company’s products by submitting the actual print advertisements presented in catalogs, newspaper inserts or other advertising circulars, or by permitting physical inspection of displays. Additionally, the Company’s cooperative advertising agreements require that the amount of reimbursement requested for such advertising or materials be supported by invoices or other evidence of the actual costs incurred by the retailer. The Company accounts for these cooperative advertising costs as selling and administrative expenses, in accordance with the Revenue Recognition Topic for Customer Payments and Incentives of the Codification.
Vendor Allowances	From time to time, the Company negotiates allowances from its vendors for markdowns taken or expected to be taken. These markdowns are typically negotiated on specific merchandise and for specific amounts. These specific allowances are recognized as a reduction in cost of sales in the period in which the markdowns are taken. Markdown allowances not attached to specific inventory on hand or already sold are applied to concurrent or future purchases from each respective vendor. The Company receives support from some of its vendors in the form of reimbursements for cooperative advertising and catalog costs for the launch and promotion of certain products. The reimbursements are agreed upon with vendors and represent specific, incremental, identifiable costs incurred by the Company in selling the vendor’s specific products. Such costs and the related reimbursements are accumulated and monitored on an individual vendor basis, pursuant to the respective cooperative advertising agreements with vendors. Such cooperative advertising reimbursements are recorded as a reduction of selling and administrative expenses in the same period in which the associated expense is incurred. If the amount of cash consideration received Note 1 Summary of Significant Accounting Policies, Continued exceeds the costs being reimbursed, such excess amount would be recorded as a reduction of cost of sales.
Earnings Per Common Share	Basic earnings per share excludes dilution and is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities to issue common stock were exercised or converted to common stock (see Note 7).
Foreign Currency Translation	The functional currency of the Company's foreign operations is the applicable local currency. The translation of the applicable foreign currency into U.S. dollars is performed for balance sheet accounts using current exchange rates in effect at the balance sheet date. Income and expense accounts are translated at monthly average exchange rates. The unearned gains and losses resulting from such translation are included as a separate component of accumulated other comprehensive loss within shareholders' equity.
Share-Based Compensation	The Company has share-based compensation covering certain members of management and non-employee directors. The Company recognizes compensation expense for share-based payments based on the fair value of the awards as required by the Compensation - Stock Compensation Topic of the Codification. The Company has not granted any stock options since the first quarter of Fiscal 2008. The fair value of employee restricted stock granted is determined based on the closing price of the Company's stock on the date of grant. The benefits of tax deductions in excess of recognized compensation expense are reported as a financing cash flow.
Other Comprehensive Income	The Comprehensive Income Topic of the Codification requires, among other things, the Company’s pension liability adjustment, postretirement liability adjustment and foreign currency translation adjustments to be included in other comprehensive income net of tax.
Business Segments	The Segment Reporting Topic of the Codification requires that companies disclose “operating segments” based on the way management disaggregates the Company’s operations for making internal operating decisions (see Note 9).
New Accounting Principles	In February 2016, the FASB issued ASU 2016-02, "Leases" ("ASU 2016-2"). The standard's core principle is to increase transparency and comparability among organizations by recognizing lease assets and liabilities on the balance sheet and disclosing key information. The standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, which would be the beginning of our Fiscal 2020 or February 2019. Early adoption is permitted. The Company is currently assessing the impact the adoption of ASU 2016-02 will have on its Consolidated Financial Statements and related disclosures and is expecting a material impact because the Company is party to a significant number of lease contracts. In November 2015, the FASB issued ASU 2015-17, "Balance Sheet Classification of Deferred Taxes" ("ASU 2015-17"). ASU No. 2015-17 requires that all deferred tax assets and liabilities, along with any related valuation allowance, be classified as noncurrent on the balance sheet. The change to noncurrent classification could have a significant impact on working capital. ASU No. 2015-17 is effective for fiscal years, and interim periods within those years, beginning after Note 1 Summary of Significant Accounting Policies, Continued December 15, 2016 and may be applied either prospectively or retrospectively. Early adoption is permitted. As of July 30, 2016, the Company has $28.1 million of current deferred tax assets that will be reclassed to noncurrent deferred tax assets on its Condensed Consolidated Balance Sheets. The change to noncurrent classification will impact our working capital. The Company is currently assessing which transition method will be adopted. In April 2015, the FASB issued ASU 2015-03, "Simplifying the Presentation of Debt Issuance Costs" ("ASU 2015-03"). In August 2015, the FASB issued ASU 2015-15, "Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements". ASU 2015-03 requires that debt issuance costs be presented in the balance sheet as a deduction from the carrying amount of the debt. ASU 2015-15 allows an entity to present debt issuance costs associated with a revolving line of credit arrangement as an asset, regardless of whether a balance is outstanding. The recognition and measurement guidance for debt issuance costs are not affected by ASU 2015-03 or ASU 2015-15. These ASUs are effective for annual reporting periods beginning after December 15, 2015, including interim periods within that reporting period, with early adoption permitted. ASU 2015-03 requires the Company to reclassify its deferred financing costs associated with its long-term debt from other noncurrent assets to long-term debt on a retrospective basis. The Company adopted these ASUs in the first quarter of Fiscal 2017. There were $0.2 million , $0.3 million and $0.4 million in deferred financing costs reclassified to long-term debt from noncurrent assets as of July 30, 2016, January 30, 2016 and August 1, 2015, respectively. In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers (Topic 606)" ("ASU 2014-09"). ASU No. 2014-09 amends the guidance for revenue recognition to replace numerous, industry-specific requirements and merges areas under this topic with those of the International Financial Reporting Standards. The ASU implements a five-step process for customer contract revenue recognition that focuses on transfer of control, as opposed to transfer of risk and rewards. The amendment also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenues and cash flows from contracts with customers. ASU 2014-09 was originally effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, however, in August 2015, the FASB deferred this ASU for one year, which would be the beginning of our Fiscal 2019 or February 2018. The amendment is to be applied either retrospectively to each prior reporting period presented or with the cumulative effect recognized at the date of initial adoption as an adjustment to the opening balance of retained earnings (or other appropriate components of equity or net assets on the balance sheet). The Company is currently assessing the impact the adoption of ASU 2014-09 will have on its Consolidated Financial Statements and related disclosures, including which transition method will be adopted. In March 2016, the FASB issued ASU 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” (“ASU 2016-09”). The update addresses several aspects of the accounting for share-based compensation transactions including: (a) income tax consequences when awards vest or are settled, (b) classification of awards as either equity or liabilities, (c) a policy election to account for forfeitures as they occur rather than on an estimated basis and (d) classification of excess tax impacts on the statement of cash flows. The updated guidance is effective for fiscal years beginning after December 15, 2016, and interim periods Note 1 Summary of Significant Accounting Policies, Continued within those fiscal years, with early adoption permitted. If the Company had adopted the standard in Fiscal 2017, reported earnings per share would have decreased $0.03 per share for the six months ended July 30, 2016. The Company will adopt ASU 2016-09 in the first quarter of Fiscal 2018.

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jul. 30, 2016
Accounting Policies [Abstract]
Property and equipment amortized over the estimated useful life of related assets	Depreciation and amortization expense are computed principally by the straight-line method over the following estimated useful lives: Buildings and building equipment 20-45 years Computer hardware, software and equipment 3-10 years Furniture and fixtures 10 years
Carrying amounts and fair values of the Company's financial instruments	The carrying amounts and fair values of the Company’s financial instruments at July 30, 2016 and January 30, 2016 are as follows: Fair Values In thousands July 30, 2016 January 30, 2016 Carrying Amount Fair Value Carrying Amount Fair Value U.S. Revolver Borrowings $ 94,314 $ 94,240 $ 58,344 $ 58,480 UK Term Loans 22,038 22,338 28,603 28,901 UK Revolver Borrowings 19,249 19,235 24,818 24,630
Components of accumulated other comprehensive loss	The following table summarizes the components of accumulated other comprehensive loss for the six months ended July 30, 2016: Foreign Currency Translation Unrecognized Pension/Postretirement Benefit Costs Total Accumulated Other Comprehensive Income (Loss) (In thousands) Balance January 30, 2016 $ (28,706 ) $ (13,907 ) $ (42,613 ) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment (6,700 ) — (6,700 ) Gain on intra-entity foreign currency transactions (long-term investment nature) 1,922 — 1,922 Amounts reclassified from AOCI: Amortization of net actuarial loss (1) — 470 470 Income tax expense — 184 184 Current period other comprehensive income (loss), net of tax (4,778 ) 286 (4,492 ) Balance July 30, 2016 $ (33,484 ) $ (13,621 ) $ (47,105 ) (1) Amount is included in net periodic benefit cost, which is recorded in selling and administrative expense on the Condensed Consolidated Statements of Operations.

Intangible Assets and Sale of20

Intangible Assets and Sale of Business (Tables)	6 Months Ended
	Jul. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Other intangible assets by major classes	Other intangibles by major classes were as follows: Leases Customer Lists Other* Total (In Thousands) Jul. 30, 2016 Jan. 30, 2016 Jul. 30, 2016 Jan. 30, 2016 Jul. 30, 2016 Jan. 30, 2016 Jul. 30, 2016 Jan. 30, 2016 Gross other intangibles $ 14,840 $ 14,841 $ 2,532 $ 2,622 $ 2,054 $ 2,053 $ 19,426 $ 19,516 Accumulated amortization (12,859 ) (12,637 ) (2,253 ) (2,264 ) (1,191 ) (1,046 ) (16,303 ) (15,947 ) Net Other Intangibles $ 1,981 $ 2,204 $ 279 $ 358 $ 863 $ 1,007 $ 3,123 $ 3,569 *Includes non-compete agreements, vendor contract and backlog.

Asset Impairments and Other C21

Asset Impairments and Other Charges and Discontinued Operations (Tables)	6 Months Ended
	Jul. 30, 2016
Asset Impairments and Other Charges and Discontinued Operations [Abstract]
Accrued provision for discontinued operations	Accrued Provision for Discontinued Operations In thousands Facility Shutdown Costs Balance January 31, 2015 $ 14,759 Additional provision Fiscal 2016 1,333 Charges and adjustments, net (473 ) Balance January 30, 2016 15,619 Additional provision Fiscal 2017 132 Charges and adjustments, net (789 ) Balance July 30, 2016* 14,962 Current provision for discontinued operations 13,249 Total Noncurrent Provision for Discontinued Operations $ 1,713 *Includes a $14.3 million environmental provision, including $13.2 million in current provision for discontinued operations.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jul. 30, 2016
Inventory Disclosure [Abstract]
Inventories	In thousands July 30, 2016 January 30, 2016 Raw materials $ 409 $ 469 Wholesale finished goods 65,080 58,773 Retail merchandise 598,219 470,516 Total Inventories $ 663,708 $ 529,758

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jul. 30, 2016
Fair Value Disclosures [Abstract]
Company's assets and liabilities measured at fair value on a nonrecurring basis	The following table presents the Company’s assets (which excludes the Company's pension plan assets) and liabilities measured at fair value on a nonrecurring basis as of July 30, 2016 aggregated by the level in the fair value hierarchy within which those measurements fall (in thousands): Long-Lived Assets Held and Used Level 1 Level 2 Level 3 Total Losses Measured as of April 30, 2016 $ 694 $ — $ — $ 694 $ 3,436 Measured as of July 30, 2016 618 — — 618 1,017 Sub-total asset impairment YTD $ 4,453

Defined Benefit Pension Plans24

Defined Benefit Pension Plans and Other Benefit Plans (Tables)	6 Months Ended
	Jul. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Components of net periodic benefit cost	Components of Net Periodic Benefit Cost Pension Benefits Other Benefits Three Months Ended Three Months Ended In thousands July 30, 2016 August 1, 2015 July 30, 2016 August 1, 2015 Service cost $ 137 $ 112 $ 165 $ 209 Interest cost 1,028 1,062 66 62 Expected return on plan assets (1,410 ) (1,446 ) — — Amortization: Losses 195 1,197 25 48 Net amortization 195 1,197 25 48 Net Periodic Benefit Cost (Gain) $ (50 ) $ 925 $ 256 $ 319 Components of Net Periodic Benefit Cost Pension Benefits Other Benefits Six Months Ended Six Months Ended In thousands July 30, 2016 August 1, 2015 July 30, 2016 August 1, 2015 Service cost $ 275 $ 225 $ 330 $ 419 Interest cost 2,062 2,140 132 123 Expected return on plan assets (2,822 ) (2,895 ) — — Amortization: Losses 421 2,554 50 96 Net amortization 421 2,554 50 96 Net Periodic Benefit Cost (Gain) $ (64 ) $ 2,024 $ 512 $ 638
Expected benefit payments from the trust, including future service and pay	Expected benefit payments from the trust, including future service and pay, are as follows: Estimated future payments Pension Benefits ($ in millions) 2017 $ 7.9 2018 7.7 2019 7.6 2020 7.4 2021 7.2 2022 - 2026 32.7

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jul. 30, 2016
Earnings Per Share [Abstract]
Summary of basic and diluted earnings per share	For the Three Months Ended For the Three Months Ended July 30, 2016 August 1, 2015 (In thousands, except per share amounts) Income (Numerator) Shares (Denominator) Per Share Amount Income (Numerator) Shares (Denominator) Per Share Amount Earnings from continuing operations $ 14,504 $ 7,593 Basic EPS from continuing operations Income available to common shareholders 14,504 20,195 $ 0.72 7,593 23,538 $ 0.32 Effect of Dilutive Securities from continuing operations Dilutive share-based awards 11 33 Employees' preferred stock (1) 38 45 Diluted EPS from continuing operations Income available to common shareholders plus assumed conversions $ 14,504 20,244 $ 0.72 $ 7,593 23,616 $ 0.32 (1) The Company's Employees' Subordinated Convertible Preferred Stock is convertible one for one to the Company's common stock. Because no dividends are paid on this stock, these shares are assumed to be converted in the diluted earnings per share calculations for the second quarters ended July 30, 2016 and August 1, 2015. Note 7 Earnings Per Share, Continued For the Six Months Ended For the Six Months Ended July 30, 2016 August 1, 2015 (In thousands, except Income Shares Per Share Income Shares Per Share Earnings from continuing operations $ 25,068 $ 17,538 Basic EPS from continuing operations Income available to common shareholders 25,068 20,505 $ 1.22 17,538 23,544 $ 0.74 Effect of Dilutive Securities from Dilutive share-based awards 74 106 Employees' preferred stock(1) 38 45 Diluted EPS from continuing operations Income available to common shareholders plus assumed conversions $ 25,068 20,617 $ 1.22 $ 17,538 23,695 $ 0.74 (1) The Company's Employees' Subordinated Convertible Preferred Stock is convertible one for one to the Company's common stock. Because no dividends are paid on this stock, these shares are assumed to be converted in the diluted earnings per share calculations for the first six months ended July 30, 2016 and August 1, 2015.

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
	Jul. 30, 2016
Segment Reporting [Abstract]
Segment reporting information by segment	Three Months Ended July 30, 2016 Journeys Group Schuh Group Lids Sports Group Johnston & Murphy Group Licensed Brands Corporate & Other Consolidated In thousands Sales $ 252,134 $ 96,960 $ 188,912 $ 65,151 $ 22,673 $ 300 $ 626,130 Intercompany Sales — — — — (573 ) — (573 ) Net sales to external customers $ 252,134 $ 96,960 $ 188,912 $ 65,151 $ 22,100 $ 300 $ 625,557 Segment operating income (loss) $ 4,481 $ 5,693 $ 7,132 $ 2,255 $ 234 $ (7,720 ) $ 12,075 Asset Impairments and other* — — — — — 7,945 7,945 Earnings (loss) from operations 4,481 5,693 7,132 2,255 234 225 20,020 Gain on sale of Lids Team Sports — — — — — 2,485 2,485 Interest expense — — — — — (1,316 ) (1,316 ) Interest income — — — — — 10 10 Earnings (loss) from continuing operations before income taxes $ 4,481 $ 5,693 $ 7,132 $ 2,255 $ 234 $ 1,404 $ 21,199 Total assets** $ 451,154 $ 232,812 $ 545,216 $ 128,487 $ 47,071 $ 176,573 $ 1,581,313 Depreciation and amortization 5,950 3,809 6,592 1,483 257 1,018 19,109 Capital expenditures 15,632 3,566 731 3,183 196 38 23,346 *Asset Impairments and other includes a $1.0 million charge for asset impairments, which relates primarily to the Lids Sports Group, and a $(9.0) million gain for network intrusion expenses related to a litigation settlement. **Total assets for the Lids Sports Group, Schuh Group, Journeys Group and Licensed Brands include $181.8 million , $84.5 million , $9.9 million and $0.8 million of goodwill, respectively. Goodwill for the Lids Sports Group and Journeys Group increased by $0.9 million and $0.5 million , respectively, from January 30, 2016 and Schuh Group goodwill decreased by $5.8 million from January 30, 2016 due to foreign currency translation adjustments. Of the Company's $321.2 million of property and equipment, $60.2 million and $20.2 million relate to property and equipment in the United Kingdom and Canada, respectively. Note 9 Business Segment Information, Continued Three Months Ended August 1, 2015 Journeys Group Schuh Group Lids Sports Group Johnston & Murphy Group Licensed Brands Corporate & Other Consolidated In thousands Sales $ 247,177 103,204 $ 222,425 $ 60,822 $ 22,150 $ 162 $ 655,940 Intercompany Sales — — (207 ) — (208 ) — (415 ) Net sales to external customers $ 247,177 $ 103,204 $ 222,218 $ 60,822 $ 21,942 $ 162 $ 655,525 Segment operating income (loss) $ 9,228 $ 4,892 $ 5,593 $ 846 $ 1,158 $ (8,048 ) $ 13,669 Asset Impairments and other* — — — — — (1,173 ) (1,173 ) Earnings (loss) from operations 9,228 4,892 5,593 846 1,158 (9,221 ) 12,496 Interest expense — — — — — (945 ) (945 ) Interest income — — — — — 17 17 Earnings (loss) from continuing operations before income taxes $ 9,228 $ 4,892 $ 5,593 $ 846 $ 1,158 $ (10,149 ) $ 11,568 Total assets** $ 387,714 266,461 $ 695,233 $ 114,577 $ 42,375 $ 177,528 $ 1,683,888 Depreciation and amortization 5,328 3,775 7,513 1,391 212 1,163 19,382 Capital expenditures 6,796 2,894 9,699 1,748 195 539 21,871 *Asset Impairments and other includes a $0.9 million charge for assets impairments, of which $0.5 million relates to the Lids Sports Group and $0.4 million relates to the Schuh Group, and a $0.2 million charge for network intrusion expenses. **Total assets for the Lids Sports Group, Schuh Group and Licensed Brands include $199.8 million , $99.6 million and $0.8 million of goodwill, respectively. The Schuh Group goodwill increased by $3.6 million from January 31, 2015 due to foreign currency translation adjustments. Of the Company's $310.4 million of property and equipment, $64.5 million and $13.5 million relate to property and equipment in the United Kingdom and Canada, respectively. Note 9 Business Segment Information, Continued Six Months Ended July 30, 2016 Journeys Group Schuh Group Lids Sports Group Johnston & Murphy Group Licensed Brands Corporate & Other Consolidated In thousands Sales $ 546,355 $ 172,630 $ 368,288 $ 135,126 $ 52,317 $ 385 $ 1,275,101 Intercompany Sales — — — — (751 ) — (751 ) Net sales to external customers $ 546,355 $ 172,630 $ 368,288 $ 135,126 $ 51,566 $ 385 $ 1,274,350 Segment operating income (loss) $ 24,101 $ 3,032 $ 13,169 $ 7,097 $ 2,087 $ (15,957 ) $ 33,529 Asset Impairments and other* — — — — — 4,388 4,388 Earnings (loss) from operations 24,101 3,032 13,169 7,097 2,087 (11,569 ) 37,917 Gain on sale of Lids Team Sports — — — — — 2,485 2,485 Interest expense — — — — — (2,479 ) (2,479 ) Interest income — — — — — 36 36 Earnings (loss) from continuing operations before income taxes $ 24,101 $ 3,032 $ 13,169 $ 7,097 $ 2,087 $ (11,527 ) $ 37,959 Total assets** $ 451,154 $ 232,812 $ 545,216 $ 128,487 $ 47,071 $ 176,573 $ 1,581,313 Depreciation and amortization 12,012 7,494 12,935 2,947 507 2,028 37,923 Capital expenditures 22,929 6,407 5,609 5,178 348 232 40,703 *Asset Impairments and other includes an $(8.9) million gain for network intrusion expenses related to a litigation settlement, a $4.5 million charge for asset impairments, of which $4.4 million is in the Lids Sports Group and $0.1 million is in the Journeys Group, and a $0.1 million charge for other legal matters. **Total assets for the Lids Sports Group, Schuh Group, Journeys Group and Licensed Brands include $181.8 million , $84.5 million , $9.9 million and $0.8 million of goodwill, respectively. Goodwill for the Lids Sports Group and Journeys Group increased by $0.9 million and $0.5 million , respectively, from January 30, 2016 and Schuh Group goodwill decreased by $5.8 million from January 30, 2016 due to foreign currency translation adjustments. Of the Company's $321.2 million of property and equipment, $60.2 million and $20.2 million relate to property and equipment in the United Kingdom and Canada, respectively. Note 9 Business Segment Information, Continued Six Months Ended August 1, 2015 Journeys Group Schuh Group Lids Sports Group Johnston & Murphy Group Licensed Brands Corporate & Other Consolidated In thousands Sales 525,809 181,766 429,015 127,184 52,896 297 $ 1,316,967 Intercompany Sales — — (468 ) — (377 ) — (845 ) Net sales to external customers $ 525,809 $ 181,766 $ 428,547 $ 127,184 $ 52,519 $ 297 $ 1,316,122 Segment operating income (loss) 33,650 2,231 2,196 4,823 4,181 (14,512 ) $ 32,569 Asset Impairments and other* — — — — — (3,819 ) (3,819 ) Earnings (loss) from operations 33,650 2,231 2,196 4,823 4,181 (18,331 ) 28,750 Interest expense — — — — — (1,605 ) (1,605 ) Interest income — — — — — 32 32 Earnings (loss) from continuing operations before income taxes $ 33,650 $ 2,231 $ 2,196 $ 4,823 $ 4,181 $ (19,904 ) $ 27,177 Total assets** 387,714 266,461 695,233 114,577 42,375 177,528 $ 1,683,888 Depreciation and amortization 10,788 7,288 15,231 2,756 427 2,385 38,875 Capital expenditures 13,775 6,036 20,488 4,488 329 1,155 46,271 *Asset Impairments and other includes a $2.0 million charge for network intrusion expenses, a $1.7 million charge for asset impairments, of which $1.3 million is in the Lids Sports Group and $0.4 million is in the Schuh Group, and a $0.1 million charge for other legal matters. **Total assets for the Lids Sports Group, Schuh Group and Licensed Brands include $199.8 million , $99.6 million and $0.8 million of goodwill, respectively. The Schuh Group goodwill increased by $3.6 million from January 31, 2015 due to foreign currency translation adjustments. Of the Company's $310.4 million of property and equipment, $64.5 million and $13.5 million relate to property and equipment in the United Kingdom and Canada, respectively.

Summary of Significant Accoun27

Summary of Significant Accounting Policies - Additional Information (Details)	3 Months Ended		6 Months Ended
	Jul. 30, 2016USD ($)customer	Aug. 01, 2015USD ($)	Jul. 30, 2016USD ($)customersegmentStore$ / shares	Aug. 01, 2015USD ($)segment	Apr. 30, 2016USD ($)	Jan. 30, 2016USD ($)	May 02, 2015USD ($)	Jan. 31, 2015USD ($)
Summary of Accounting Policies [Line Items]
Total number of retail stores operated by company | Store			2,805
Number of reportable business segments | segment			5	5
Pretax accrual charges (gains) for environmental contingencies included in provision for discontinued operations	$ 0	$ 100,000	$ 100,000	$ 200,000
Deferred tax valuation allowance	$ 3,100,000		$ 3,100,000
Effective tax rate, deferred purchase price	31.60%	34.40%	34.00%	35.50%
Minimum number of hours of service of full time employees			1000 hours
Calculated value of pension assets, measurement period			5 years
Calculated value of pension assets, average future service of employees			9 years 8 months 1 day
Cash and cash equivalents	$ 41,466,000	$ 48,997,000	$ 41,466,000	$ 48,997,000	$ 42,750,000	$ 133,288,000	$ 89,886,000	$ 112,867,000
Cash equivalents	0	0	$ 0	0		0
Payment processing duration, minimum			24 hours
Payment processing duration, maximum			48 hours
Excess of outstanding checks drawn on zero balance accounts at domestic banks exceeded book cash balance	39,200,000	60,800,000	$ 39,200,000	60,800,000		45,000,000
Depreciation	18,900,000	18,700,000	37,400,000	37,500,000
Tenant allowances	25,400,000	23,200,000	25,400,000	23,200,000		25,400,000
Deferred rent	49,700,000	46,900,000	49,700,000	46,900,000		48,000,000
Asset retirement obligations	10,400,000	10,500,000	10,400,000	10,500,000		10,600,000
Goodwill	277,028,000	300,230,000	277,028,000	300,230,000		281,385,000
Wholesale costs of distribution	1,400,000	2,200,000	3,000,000	4,600,000
Revenue recognition, gift cards, breakage	100,000	100,000	300,000	300,000
Accrued liability for gift cards	15,000,000	14,100,000	15,000,000	14,100,000		16,900,000
Advertising costs	15,700,000	14,900,000	32,400,000	32,100,000
Prepaid advertising	1,600,000	1,800,000	1,600,000	1,800,000		2,000,000
Cooperative advertising costs	700,000	700,000	1,700,000	1,700,000
Vendor reimbursements of cooperative advertising costs	1,400,000	500,000	2,700,000	1,600,000
Loss (gain) from foreign currency transactions	(500,000)	1,400,000	(1,500,000)	1,500,000
Accumulated other comprehensive income pension liability adjustments	12,800,000		12,800,000
Accumulated other comprehensive income, foreign currency translation adjustment	33,500,000		33,500,000
Deferred income taxes	28,146,000	29,192,000	$ 28,146,000	29,192,000		28,965,000
Decrease to earnings per share upon ASU adoption, pro forma | $ / shares			$ 0.03
Selling, General and Administrative Expenses
Summary of Accounting Policies [Line Items]
Retail occupancy costs	112,200,000	107,600,000	$ 223,400,000	213,500,000
Accounting Standards Update 2015-03 | Noncurrent Assets
Summary of Accounting Policies [Line Items]
Deferred finance costs	(200,000)	(400,000)	(200,000)	(400,000)		(300,000)
Accounting Standards Update 2015-03 | Long-term Debt
Summary of Accounting Policies [Line Items]
Deferred finance costs	200,000	400,000	200,000	400,000		300,000
Unrecognized Pension/Postretirement Benefit Costs
Summary of Accounting Policies [Line Items]
Accumulated other comprehensive income post retirement liability adjustment	800,000		800,000
Lids Sports Group
Summary of Accounting Policies [Line Items]
Goodwill	181,800,000	199,800,000	181,800,000	199,800,000		180,900,000
Journeys Group
Summary of Accounting Policies [Line Items]
Goodwill	9,900,000		9,900,000			9,400,000
Schuh Group
Summary of Accounting Policies [Line Items]
Goodwill	84,500,000	99,600,000	84,500,000	99,600,000		90,300,000
Licensed Brands
Summary of Accounting Policies [Line Items]
Goodwill	800,000	800,000	800,000	800,000		800,000
Foreign Subsidiaries
Summary of Accounting Policies [Line Items]
Cash and cash equivalents	$ 11,800,000	$ 17,400,000	$ 11,800,000	$ 17,400,000		$ 24,100,000
Major Customer One and Two | Customer Concentration Risk | Trade Accounts Receivable
Summary of Accounting Policies [Line Items]
Number of customers exceeding threshold | customer	2		2
Major Customer One | Customer Concentration Risk | Trade Accounts Receivable
Summary of Accounting Policies [Line Items]
Concentration risk percentage			10.00%
Major Customer Two | Customer Concentration Risk | Trade Accounts Receivable
Summary of Accounting Policies [Line Items]
Concentration risk percentage			10.00%
Major Customer Three and Four | Customer Concentration Risk | Trade Accounts Receivable
Summary of Accounting Policies [Line Items]
Number of customers exceeding threshold | customer	2		2
Major Customer Three | Customer Concentration Risk | Trade Accounts Receivable
Summary of Accounting Policies [Line Items]
Concentration risk percentage			9.00%
Major Customer Four | Customer Concentration Risk | Trade Accounts Receivable
Summary of Accounting Policies [Line Items]
Concentration risk percentage			9.00%
Other Major Customers | Customer Concentration Risk | Trade Accounts Receivable
Summary of Accounting Policies [Line Items]
Number of customers exceeding threshold | customer	0		0
Concentration risk benchmark percentage			7.00%

Summary of Significant Accoun28

Summary of Significant Accounting Policies - Property, Plant and Equipment (Details)	6 Months Ended
	Jul. 30, 2016
Buildings and building equipment | Minimum
Property and equipment amortized over the estimated useful life of related assets
Property and equipment, useful life	20 years
Buildings and building equipment | Maximum
Property and equipment amortized over the estimated useful life of related assets
Property and equipment, useful life	45 years
Computer hardware, software and equipment | Minimum
Property and equipment amortized over the estimated useful life of related assets
Property and equipment, useful life	3 years
Computer hardware, software and equipment | Maximum
Property and equipment amortized over the estimated useful life of related assets
Property and equipment, useful life	10 years
Furniture and fixtures
Property and equipment amortized over the estimated useful life of related assets
Property and equipment, useful life	10 years

Summary of Significant Accoun29

Summary of Significant Accounting Policies - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jul. 30, 2016	Jan. 30, 2016
U.S. Revolver Borrowings | Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount	$ 94,314	$ 58,344
Fair Value	94,240	58,480
UK Term Loans | Line of Credit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount	22,038	28,603
Fair Value	22,338	28,901
UK Revolver Borrowings | Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Amount	19,249	24,818
Fair Value	$ 19,235	$ 24,630

Summary of Significant Accoun30

Summary of Significant Accounting Policies - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jul. 30, 2016	Aug. 01, 2015	Jul. 30, 2016	Aug. 01, 2015	Jan. 30, 2016
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance			$ 956,783	$ 998,777	$ 998,777
Amounts reclassified from AOCI:
Income tax expense			184
Current period other comprehensive income (loss), net of tax	$ (13,243)	$ 61	(4,492)	4,419	(2,037)
Ending Balance	886,919	$ 996,015	886,919	996,015	956,783
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance			(42,613)	$ (40,576)	(40,576)
Amounts reclassified from AOCI:
Current period other comprehensive income (loss), net of tax			(4,492)		(2,037)
Ending Balance	(47,105)		(47,105)		(42,613)
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance			(28,706)
Amounts reclassified from AOCI:
Income tax expense			0
Current period other comprehensive income (loss), net of tax			(4,778)
Ending Balance	(33,484)		(33,484)		(28,706)
Foreign currency translation adjustment
Other comprehensive income (loss) before reclassifications:
Other comprehensive income (loss) before reclassifications			(6,700)
Gain on intra-entity foreign currency transactions (long-term investment nature)
Other comprehensive income (loss) before reclassifications:
Other comprehensive income (loss) before reclassifications			1,922
Unrecognized Pension/Postretirement Benefit Costs
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance			(13,907)
Amounts reclassified from AOCI:
Amortization of net actuarial loss			470
Income tax expense			184
Current period other comprehensive income (loss), net of tax			286
Ending Balance	$ (13,621)		$ (13,621)		$ (13,907)

Intangible Assets and Sale of31

Intangible Assets and Sale of Business - Net Other Intangibles (Details) - USD ($) $ in Thousands	Jul. 30, 2016	Jan. 30, 2016	Aug. 01, 2015
Other intangibles by major classes
Gross other intangibles	$ 19,426	$ 19,516
Accumulated amortization	(16,303)	(15,947)	$ (24,853)
Net Other Intangibles	3,123	3,569	$ 10,274
Leases
Other intangibles by major classes
Gross other intangibles	14,840	14,841
Accumulated amortization	(12,859)	(12,637)
Net Other Intangibles	1,981	2,204
Customer Lists
Other intangibles by major classes
Gross other intangibles	2,532	2,622
Accumulated amortization	(2,253)	(2,264)
Net Other Intangibles	279	358
Other
Other intangibles by major classes
Gross other intangibles	2,054	2,053
Accumulated amortization	(1,191)	(1,046)
Net Other Intangibles	$ 863	$ 1,007

Intangible Assets and Sale of32

Intangible Assets and Sale of Business - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 30, 2016	Aug. 01, 2015	Jul. 30, 2016	Aug. 01, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangibles assets	$ 200	$ 800	$ 500	$ 1,500
Future amortization expense, fiscal 2017	900		900
Future amortization expense, fiscal 2018	200		200
Future amortization expense, fiscal 2019	200		200
Future amortization expense, fiscal 2020	100		100
Future amortization expense, fiscal 2021	100		100
Gain on sale of Lids Team Sports	$ 2,485	$ 0	$ 2,485	$ 0

Asset Impairments and Other C33

Asset Impairments and Other Charges and Discontinued Operations - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 30, 2016	Aug. 01, 2015	Jul. 30, 2016	Aug. 01, 2015
Restructuring Cost and Reserve [Line Items]
(Gain) charge on asset impairments and other	$ (7,945)	$ 1,173	$ (4,388)	$ 3,819
Retail Store Asset Impairments
Restructuring Cost and Reserve [Line Items]
(Gain) charge on asset impairments and other	1,000	900	4,500	1,700
Other Legal Matters
Restructuring Cost and Reserve [Line Items]
(Gain) charge on asset impairments and other			100	100
Computer Network Intrusion
Restructuring Cost and Reserve [Line Items]
(Gain) charge on asset impairments and other	$ (9,000)	$ 200	$ (8,900)	$ 2,000

Asset Impairments and Other C34

Asset Impairments and Other Charges and Discontinued Operations - Schedule of Accrued Provision for Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jul. 30, 2016	Aug. 01, 2015	Jul. 30, 2016	Aug. 01, 2015	Jan. 30, 2016	Jul. 30, 2016	Jan. 30, 2016
Accrued Provision for Discontinued Operations
Additional provision	$ (120)	$ 120	$ 132	$ 231
Current provision for discontinued operations		10,483		10,483		$ 13,249	$ 11,389
Total Noncurrent Provision for Discontinued Operations		$ 4,247		4,247		1,713	4,230
Facility Shutdown Costs
Accrued Provision for Discontinued Operations
Balance at beginning of period			15,619	14,759	$ 14,759
Additional provision			132		1,333
Charges and adjustments, net			(789)		(473)
Balance at end of period	14,962		14,962		15,619
Total provision for discontinued operations	$ 14,962		15,619	$ 14,759	$ 14,759	14,962	$ 15,619
Current provision for discontinued operations						13,249
Total Noncurrent Provision for Discontinued Operations						$ 1,713
Environmental provision			14,300
Current environmental provision for discontinued operations			$ 13,200

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jul. 30, 2016	Jan. 30, 2016	Aug. 01, 2015
Inventories
Raw materials	$ 409	$ 469
Wholesale finished goods	65,080	58,773
Retail merchandise	598,219	470,516
Total Inventories	$ 663,708	$ 529,758	$ 734,803

Fair Value (Details)

Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 30, 2016	Aug. 01, 2015	Jul. 30, 2016	Aug. 01, 2015	Apr. 30, 2016
Company's assets and liabilities measured at fair value on a nonrecurring basis
Impairment of long-lived assets	$ 1,017	$ 931	$ 4,453	$ 1,697
Fair Value Measurements Nonrecurring
Company's assets and liabilities measured at fair value on a nonrecurring basis
Long-Lived Assets Held and Used	618		618		$ 694
Total Losses	1,017		1,017		3,436
Fair Value Measurements Nonrecurring | Level 1
Company's assets and liabilities measured at fair value on a nonrecurring basis
Long-Lived Assets Held and Used	0		0		0
Fair Value Measurements Nonrecurring | Level 2
Company's assets and liabilities measured at fair value on a nonrecurring basis
Long-Lived Assets Held and Used	0		0		0
Fair Value Measurements Nonrecurring | Level 3
Company's assets and liabilities measured at fair value on a nonrecurring basis
Long-Lived Assets Held and Used	$ 618		$ 618		$ 694

Defined Benefit Pension Plans37

Defined Benefit Pension Plans and Other Benefit Plans - Components of Net Periodic Benefit Cost (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 30, 2016	Aug. 01, 2015	Jul. 30, 2016	Aug. 01, 2015
Amortization:
Calculated value of pension assets, average future service of employees			9 years 8 months 1 day
Minimum
Amortization:
Calculated value of pension assets, average future service of employees			9 years
Maximum
Amortization:
Calculated value of pension assets, average future service of employees			9 years 8 months 1 day
Pension Benefits
Components of Net Periodic Benefit Cost
Service cost	$ 137,000	$ 112,000	$ 275,000	$ 225,000
Interest cost	1,028,000	1,062,000	2,062,000	2,140,000
Expected return on plan assets	(1,410,000)	(1,446,000)	(2,822,000)	(2,895,000)
Amortization:
Losses	195,000	1,197,000	421,000	2,554,000
Net amortization	195,000	1,197,000	421,000	2,554,000
Net Periodic Benefit Cost (Gain)	(50,000)	925,000	(64,000)	2,024,000
Contributions required			0
Other Benefits
Components of Net Periodic Benefit Cost
Service cost	165,000	209,000	330,000	419,000
Interest cost	66,000	62,000	132,000	123,000
Expected return on plan assets	0	0	0	0
Amortization:
Losses	25,000	48,000	50,000	96,000
Net amortization	25,000	48,000	50,000	96,000
Net Periodic Benefit Cost (Gain)	$ 256,000	$ 319,000	$ 512,000	$ 638,000

Defined Benefit Pension Plans38

Defined Benefit Pension Plans and Other Benefit Plans - Estimated Future Payments (Details) - Pension Benefits $ in Millions	Jul. 30, 2016USD ($)
Defined Benefit Plan Disclosure [Line Items]
2,017	$ 7.9
2,018	7.7
2,019	7.6
2,020	7.4
2,021	7.2
2022-2026	$ 32.7

Earnings Per Share - Calculatio

Earnings Per Share - Calculation (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 [Abstract]
Earnings from continuing operations	$ 14,504	$ 7,593	$ 25,068	$ 17,538
Basic EPS from continuing operations
Income available to common shareholders, Income (Numerator)	$ 14,504	$ 7,593	$ 25,068	$ 17,538
Income available to common shareholders, Shares (Denominator) (in shares)	20,195,000	23,538,000	20,505,000	23,544,000
Income available to common shareholders, Per Share Amount (in dollars per share)	$ 0.72	$ 0.32	$ 1.22	$ 0.74
Effect of Dilutive Securities from continuing operations
Dilutive share-based awards, Shares (Denominator) (in shares)	11,000	33,000	74,000	106,000
Employees' preferred stock, Shares (Denominator) (in shares)	38,000	45,000	38,000	45,000
Diluted EPS from continuing operations
Income available to common shareholders plus assumed conversions, Income (Numerator)	$ 14,504	$ 7,593	$ 25,068	$ 17,538
Income available to common shareholders plus assumed conversions, Shares (Denominator) (in shares)	20,244,000	23,616,000	20,617,000	23,695,000
Income available to common shareholders plus assumed conversions, Per-Share Amount (in dollars per share)	$ 0.72	$ 0.32	$ 1.22	$ 0.74
Common convertible ratio (in shares)	1	1	1	1

Earnings Per Share - Additional

Earnings Per Share - Additional Information (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
Earnings Per Share [Abstract]
Stock repurchased during period (in shares)	309,105	424,384	1,409,005	424,384
Stock repurchased during period, value	$ 20,000,000	$ 27,500,000	$ 93,427,000	$ 27,500,000	$ 144,885,000
Stock repurchase program, authorized amount	100,000,000		100,000,000
Stock repurchase program, remaining authorized repurchase amount	$ 80,000,000		$ 80,000,000

Legal Proceedings (Details)

Legal Proceedings (Details)

1 Months Ended

3 Months Ended

6 Months Ended

Aug. 31, 2016USD ($)

Jun. 30, 2016USD ($)

Jul. 30, 2016USD ($)Well

Aug. 01, 2015USD ($)

Feb. 02, 2013USD ($)

Jul. 30, 2016USD ($)Well

Aug. 01, 2015USD ($)

Jan. 30, 2016USD ($)

Apr. 30, 2015USD ($)

Mar. 07, 2013USD ($)

Dec. 10, 2010USD ($)Claimant

Dec. 14, 2007USD ($)

Loss Contingencies [Line Items]

Estimated possible loss

$ 2,200,000

$ 15,600,000

Number of water supply wells | Well

2

2

Minimum historical cost associated with enhanced treatment required by the impact of groundwater plume

$ 1,800,000

Maximum historical cost associated with enhanced treatment required by the impact of groundwater plume

2,500,000

Future operation and maintenance costs

$ 126,400

Minimum amount of complaint under number of state law theories

$ 41,000,000

Period of complaint under number of state law theories

70 years

Estimated recovery from third party

$ 500,000

Amount related to outstanding environmental contingencies

$ 14,300,000

$ 14,100,000

$ 14,300,000

$ 14,100,000

$ 14,500,000

Pretax accrual charges (gains) for environmental contingencies included in provision for discontinued operations

0

$ 100,000

100,000

$ 200,000

Number of claimants | Claimant

2

Gain on litigation settlement expected in second quarter of Fiscal 2017

9,000,000

Positive Outcome of Litigation

Loss Contingencies [Line Items]

Gain contingency, unrecorded amount

$ 13,300,000

EPA Interim Oversight Costs

Loss Contingencies [Line Items]

Estimated possible loss

1,250,000

1,250,000

Computer Network Intrusion | Threatened Litigation

Loss Contingencies [Line Items]

Charges recorded to earning

$ 15,400,000

Minimum | Environmental Monitoring, Operation and Maintenance Activities

Loss Contingencies [Line Items]

Estimated possible loss

1,700,000

1,700,000

Maximum | Environmental Monitoring, Operation and Maintenance Activities

Loss Contingencies [Line Items]

Estimated possible loss

$ 2,000,000

$ 2,000,000

Village of Garden City, New York

Loss Contingencies [Line Items]

Agreement amount

$ 10,000,000

Subsequent Event

Loss Contingencies [Line Items]

Environmental contingency payment

$ 10,000,000

Business Segment Information -

Business Segment Information - Schedule of 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]
Sales	$ 625,557	$ 655,525	$ 1,274,350	$ 1,316,122
Asset impairments and other	7,945	(1,173)	4,388	(3,819)
Earnings (loss) from operations	20,020	12,496	37,917	28,750
Gain on sale of Lids Team Sports	2,485	0	2,485	0
Interest expense	(1,316)	(945)	(2,479)	(1,605)
Interest income	10	17	36	32
Earnings from continuing operations before income taxes	21,199	11,568	37,959	27,177
Total assets	1,581,313	1,683,888	1,581,313	1,683,888	$ 1,541,190
Depreciation and amortization	19,109	19,382	37,923	38,875
Capital expenditures	23,346	21,871	40,703	46,271
Operating Segments
Segment Reporting Information [Line Items]
Sales	626,130	655,940	1,275,101	1,316,967
Earnings (loss) from operations	12,075	13,669	33,529	32,569
Gain on sale of Lids Team Sports	2,485		2,485
Interest expense	(1,316)	(945)	(2,479)	(1,605)
Interest income	10	17	36	32
Earnings from continuing operations before income taxes	21,199	11,568	37,959	27,177
Total assets	1,581,313	1,683,888	1,581,313	1,683,888
Depreciation and amortization	19,109	19,382	37,923	38,875
Capital expenditures	23,346	21,871	40,703	46,271
Segment Reconciling Items
Segment Reporting Information [Line Items]
Asset impairments and other	7,945	(1,173)	4,388	(3,819)
Intercompany Sales
Segment Reporting Information [Line Items]
Sales	(573)	(415)	(751)	(845)
Journeys Group
Segment Reporting Information [Line Items]
Sales	252,134	247,177	546,355	525,809
Earnings (loss) from operations	4,481	9,228	24,101	33,650
Journeys Group | Operating Segments
Segment Reporting Information [Line Items]
Sales	252,134	247,177	546,355	525,809
Earnings (loss) from operations	4,481	9,228	24,101	33,650
Gain on sale of Lids Team Sports	0		0
Interest expense	0	0	0	0
Interest income	0	0	0	0
Earnings from continuing operations before income taxes	4,481	9,228	24,101	33,650
Total assets	451,154	387,714	451,154	387,714
Depreciation and amortization	5,950	5,328	12,012	10,788
Capital expenditures	15,632	6,796	22,929	13,775
Journeys Group | Segment Reconciling Items
Segment Reporting Information [Line Items]
Asset impairments and other	0	0	0	0
Journeys Group | Intercompany Sales
Segment Reporting Information [Line Items]
Sales	0	0	0	0
Schuh Group
Segment Reporting Information [Line Items]
Sales	96,960	103,204	172,630	181,766
Earnings (loss) from operations	5,693	4,892	3,032	2,231
Schuh Group | Operating Segments
Segment Reporting Information [Line Items]
Sales	96,960	103,204	172,630	181,766
Earnings (loss) from operations	5,693	4,892	3,032	2,231
Gain on sale of Lids Team Sports	0		0
Interest expense	0	0	0	0
Interest income	0	0	0	0
Earnings from continuing operations before income taxes	5,693	4,892	3,032	2,231
Total assets	232,812	266,461	232,812	266,461
Depreciation and amortization	3,809	3,775	7,494	7,288
Capital expenditures	3,566	2,894	6,407	6,036
Schuh Group | Segment Reconciling Items
Segment Reporting Information [Line Items]
Asset impairments and other	0	0	0	0
Schuh Group | Intercompany Sales
Segment Reporting Information [Line Items]
Sales	0	0	0	0
Lids Sports Group
Segment Reporting Information [Line Items]
Sales	188,912	222,218	368,288	428,547
Earnings (loss) from operations	7,132	5,593	13,169	2,196
Lids Sports Group | Operating Segments
Segment Reporting Information [Line Items]
Sales	188,912	222,425	368,288	429,015
Earnings (loss) from operations	7,132	5,593	13,169	2,196
Gain on sale of Lids Team Sports	0		0
Interest expense	0	0	0	0
Interest income	0	0	0	0
Earnings from continuing operations before income taxes	7,132	5,593	13,169	2,196
Total assets	545,216	695,233	545,216	695,233
Depreciation and amortization	6,592	7,513	12,935	15,231
Capital expenditures	731	9,699	5,609	20,488
Lids Sports Group | Segment Reconciling Items
Segment Reporting Information [Line Items]
Asset impairments and other	0	0	0	0
Lids Sports Group | Intercompany Sales
Segment Reporting Information [Line Items]
Sales	0	(207)	0	(468)
Johnston & Murphy Group
Segment Reporting Information [Line Items]
Sales	65,151	60,822	135,126	127,184
Earnings (loss) from operations	2,255	846	7,097	4,823
Johnston & Murphy Group | Operating Segments
Segment Reporting Information [Line Items]
Sales	65,151	60,822	135,126	127,184
Earnings (loss) from operations	2,255	846	7,097	4,823
Gain on sale of Lids Team Sports	0		0
Interest expense	0	0	0	0
Interest income	0	0	0	0
Earnings from continuing operations before income taxes	2,255	846	7,097	4,823
Total assets	128,487	114,577	128,487	114,577
Depreciation and amortization	1,483	1,391	2,947	2,756
Capital expenditures	3,183	1,748	5,178	4,488
Johnston & Murphy Group | Segment Reconciling Items
Segment Reporting Information [Line Items]
Asset impairments and other	0	0	0	0
Johnston & Murphy Group | Intercompany Sales
Segment Reporting Information [Line Items]
Sales	0	0	0	0
Licensed Brands
Segment Reporting Information [Line Items]
Sales	22,100	21,942	51,566	52,519
Earnings (loss) from operations	234	1,158	2,087	4,181
Licensed Brands | Operating Segments
Segment Reporting Information [Line Items]
Sales	22,673	22,150	52,317	52,896
Earnings (loss) from operations	234	1,158	2,087	4,181
Gain on sale of Lids Team Sports	0		0
Interest expense	0	0	0	0
Interest income	0	0	0	0
Earnings from continuing operations before income taxes	234	1,158	2,087	4,181
Total assets	47,071	42,375	47,071	42,375
Depreciation and amortization	257	212	507	427
Capital expenditures	196	195	348	329
Licensed Brands | Segment Reconciling Items
Segment Reporting Information [Line Items]
Asset impairments and other	0	0	0	0
Licensed Brands | Intercompany Sales
Segment Reporting Information [Line Items]
Sales	(573)	(208)	(751)	(377)
Corporate & Other
Segment Reporting Information [Line Items]
Sales	300	162	385	297
Earnings (loss) from operations	225	(9,221)	(11,569)	(18,331)
Corporate & Other | Operating Segments
Segment Reporting Information [Line Items]
Sales	300	162	385	297
Earnings (loss) from operations	(7,720)	(8,048)	(15,957)	(14,512)
Gain on sale of Lids Team Sports	2,485		2,485
Interest expense	(1,316)	(945)	(2,479)	(1,605)
Interest income	10	17	36	32
Earnings from continuing operations before income taxes	1,404	(10,149)	(11,527)	(19,904)
Total assets	176,573	177,528	176,573	177,528
Depreciation and amortization	1,018	1,163	2,028	2,385
Capital expenditures	38	539	232	1,155
Corporate & Other | Segment Reconciling Items
Segment Reporting Information [Line Items]
Asset impairments and other	7,945	(1,173)	4,388	(3,819)
Corporate & Other | Intercompany Sales
Segment Reporting Information [Line Items]
Sales	$ 0	$ 0	$ 0	$ 0

Business Segment Information 43

Business Segment Information - Additional Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 30, 2016USD ($)	Aug. 01, 2015USD ($)	Jul. 30, 2016USD ($)segment	Aug. 01, 2015USD ($)segment	Jan. 30, 2016USD ($)
Segment Reporting Information [Line Items]
Number of reportable business segments | segment			5	5
(Gain) charge on asset impairments and other	$ (7,945)	$ 1,173	$ (4,388)	$ 3,819
Goodwill	277,028	300,230	277,028	300,230	$ 281,385
Property and equipment	321,200	310,400	321,200	310,400
United Kingdom
Segment Reporting Information [Line Items]
Property and equipment	60,200	64,500	60,200	64,500
Canada
Segment Reporting Information [Line Items]
Property and equipment	20,200	13,500	20,200	13,500
Lids Sports Group
Segment Reporting Information [Line Items]
Goodwill	181,800	199,800	181,800	199,800	180,900
Increase (decrease) in goodwill			900
Schuh Group
Segment Reporting Information [Line Items]
Goodwill	84,500	99,600	84,500	99,600	90,300
Increase (decrease) in goodwill			(5,800)	3,600
Journeys Group
Segment Reporting Information [Line Items]
Goodwill	9,900		9,900		9,400
Increase (decrease) in goodwill			500
Licensed Brands
Segment Reporting Information [Line Items]
Goodwill	800	800	800	800	$ 800
Retail Store Asset Impairments
Segment Reporting Information [Line Items]
(Gain) charge on asset impairments and other	1,000	900	4,500	1,700
Retail Store Asset Impairments | Lids Sports Group
Segment Reporting Information [Line Items]
(Gain) charge on asset impairments and other		500	4,400	1,300
Retail Store Asset Impairments | Schuh Group
Segment Reporting Information [Line Items]
(Gain) charge on asset impairments and other		400		400
Retail Store Asset Impairments | Journeys Group
Segment Reporting Information [Line Items]
(Gain) charge on asset impairments and other			100
Computer Network Intrusion
Segment Reporting Information [Line Items]
(Gain) charge on asset impairments and other	$ (9,000)	$ 200	(8,900)	2,000
Other Legal Matters
Segment Reporting Information [Line Items]
(Gain) charge on asset impairments and other			$ 100	$ 100