Pier 1 Imports 10-Q 7 Jan 15 2015 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Nov. 29, 2014	Jan. 02, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	29-Nov-14
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3
Trading Symbol	PIR
Entity Registrant Name	PIER 1 IMPORTS INC/DE
Entity Central Index Key	278130
Current Fiscal Year End Date	-26
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		90,007,448

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Nov. 29, 2014	Nov. 30, 2013	Nov. 29, 2014	Nov. 30, 2013
Net sales	$484,501	$465,462	$1,322,182	$1,255,957
Cost of sales	279,588	263,232	786,918	724,830
Gross profit	204,913	202,230	535,264	531,127
Selling, general and administrative expenses	160,820	149,217	427,103	397,296
Depreciation and amortization	12,323	9,919	34,032	28,461
Operating income	31,770	43,094	74,129	105,370
Nonoperating (income) and expenses:
Interest, investment income and other	-254	-592	-891	-1,216
Interest expense	3,054	528	7,216	1,846
Nonoperating (income) and expenses	2,800	-64	6,325	630
Income before income taxes	28,970	43,158	67,804	104,740
Income tax provision	11,110	16,400	25,731	39,801
Net income	$17,860	$26,758	$42,073	$64,939
Earnings per share:
Basic	$0.20	$0.26	$0.46	$0.62
Diluted	$0.20	$0.26	$0.45	$0.61
Dividends declared per share:	$0.06	$0.05	$0.18	$0.15
Average shares outstanding during period:
Basic	89,741	103,319	91,967	105,018
Diluted	90,635	104,716	93,030	106,942

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Nov. 29, 2014	Nov. 30, 2013	Nov. 29, 2014	Nov. 30, 2013
Net income	$17,860	$26,758	$42,073	$64,939
Other comprehensive income (loss)
Foreign currency translation adjustments	-1,964	-361	-1,375	-1,448
Pension adjustments	461	464	1,382	1,393
Other comprehensive income (loss)	-1,503	103	7	-55
Comprehensive income, net of tax	$16,357	$26,861	$42,080	$64,884

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Nov. 29, 2014	Mar. 01, 2014	Nov. 30, 2013
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents, including temporary investments of $26,737, $121,446 and $120,222, respectively	$33,044	$126,695	$128,205
Accounts receivable, net	45,002	24,614	36,557
Inventories	535,532	377,650	429,069
Prepaid expenses and other current assets	53,183	47,547	51,625
Total current assets	666,761	576,506	645,456
Properties, net of accumulated depreciation of $448,357, $424,246 and $418,167, respectively	208,722	183,352	176,816
Other noncurrent assets	45,900	43,765	50,043
Assets, Total	921,383	803,623	872,315
Current liabilities:
Notes payable	12,000
Accounts payable	119,336	84,238	105,143
Gift cards and other deferred revenue	61,284	57,428	55,490
Accrued income taxes payable	6,242	14,025	18,020
Current portion of long-term debt	2,000
Other accrued liabilities	121,143	110,278	114,455
Total current liabilities	322,005	265,969	293,108
Long-term debt	205,173	9,500	9,500
Other noncurrent liabilities	77,106	78,722	70,717
Commitments and contingencies
Shareholders' equity:
Common stock, $0.001 par, 500,000,000 shares authorized, 125,232,000 issued	125	125	125
Paid-in capital	219,828	235,637	231,316
Retained earnings	685,769	660,040	623,512
Cumulative other comprehensive loss	-6,107	-6,114	-4,883
Less - 34,833,000, 26,517,000 and 21,956,000 common shares in treasury, at cost, respectively	-582,516	-440,256	-351,080
Stockholders' Equity Attributable to Parent, Total	317,099	449,432	498,990
Liabilities and Equity, Total	$921,383	$803,623	$872,315

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Nov. 29, 2014	Mar. 01, 2014	Nov. 30, 2013
In Thousands, except Share data, unless otherwise specified
Cash and cash equivalents, temporary investments	$26,737	$121,446	$120,222
Properties, accumulated depreciation	$448,357	$424,246	$418,167
Common stock, par value	$0.00	$0.00	$0.00
Common stock, shares authorized	500,000,000	500,000,000	500,000,000
Common stock, shares issued	125,232,000	125,232,000	125,232,000
Treasury stock, shares	34,833,000	26,517,000	21,956,000

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Nov. 29, 2014	Nov. 30, 2013
Cash flows from operating activities:
Net income	$42,073	$64,939
Adjustments to reconcile to net cash (used in) provided by operating activities:
Depreciation and amortization	39,458	33,598
Stock-based compensation expense	5,870	10,267
Deferred compensation	4,416	5,372
Deferred income taxes	2,370	1,774
Amortization of deferred gains	-2,681	-2,286
Other	-2,819	-1,496
Changes in cash from:
Inventories	-157,882	-73,016
Proprietary credit card receivables	-6,934	-7,441
Prepaid expenses and other assets	-24,845	-14,829
Accounts payable and accrued expenses	60,084	51,671
Accrued income taxes payable, net of payments	-5,319	-7,391
Net cash (used in) provided by operating activities	-46,209	61,162
Cash flows from investing activities:
Capital expenditures	-61,531	-60,590
Proceeds from disposition of properties	37	11,055
Proceeds from sale of restricted investments	1,232	507
Purchase of restricted investments	-2,314	-2,566
Net cash used in investing activities	-62,576	-51,594
Cash flows from financing activities:
Cash dividends	-16,344	-15,633
Purchases of treasury stock	-178,289	-114,025
Stock options exercised, stock purchase plan and other, net	3,888	17,888
Issuance of long-term debt, net of discount	198,000
Repayments of long-term debt	-500
Debt issuance costs	-3,621	-1,149
Borrowings of notes payable	60,000
Repayments of notes payable	-48,000
Net cash provided by (used in) financing activities	15,134	-112,919
Change in cash and cash equivalents	-93,651	-103,351
Cash and cash equivalents at beginning of period	126,695	231,556
Cash and cash equivalents at end of period	$33,044	$128,205

Consolidated_Statement_of_Shar

Consolidated Statement of Shareholders' Equity (USD $)	Total	Common Stock	Paid-in Capital	Retained Earnings	Cumulative Other Comprehensive Income (Loss)	Treasury Stock
Beginning Balance at Mar. 01, 2014	$449,432,000	$125,000	$235,637,000	$660,040,000	($6,114,000)	($440,256,000)
Beginning Balance (in shares) at Mar. 01, 2014		98,715,000
Net income	42,073,000			42,073,000
Other comprehensive income	7,000				7,000
Purchases of treasury stock	-167,827,000					-167,827,000
Purchases of treasury stock (in shares)	-9,836,912	-9,837,000
Stock-based compensation (in shares)		962,000
Stock-based compensation	5,870,000		-10,363,000			16,233,000
Exercise of stock options, stock purchase plan, and other (in shares)		559,000
Exercise of stock options, stock purchase plan, and other	3,888,000		-5,446,000			9,334,000
Cash dividends ($0.18 per share)	-16,344,000			-16,344,000
Ending Balance at Nov. 29, 2014	$317,099,000	$125,000	$219,828,000	$685,769,000	($6,107,000)	($582,516,000)
Ending Balance (in shares) at Nov. 29, 2014		90,399,000

Consolidated_Statement_of_Shar1

Consolidated Statement of Shareholders' Equity (Parenthetical) (USD $)	9 Months Ended
	Nov. 29, 2014
Cash dividends, per share	$0.18

Earnings_Per_Share

Earnings Per Share	9 Months Ended
	Nov. 29, 2014
Earnings Per Share	NOTE 1 – EARNINGS PER SHARE
	Basic earnings per share amounts were determined by dividing net income by the weighted average number of common shares outstanding for the period. Diluted earnings per share amounts were similarly computed, but included the dilutive effect of the Company’s weighted average number of stock options outstanding and shares of unvested restricted stock. A total of 233,000 and 139,000 outstanding stock options were excluded from the computation of earnings per share, as the effect would be antidilutive for the three and nine months ended November 29, 2014, respectively, and a total of 13,000 and 7,000 outstanding stock options were excluded for the three and nine months ended November 30, 2013, respectively.
	Earnings per share for the three and nine months ended November 29, 2014 and November 30, 2013, were calculated as follows (in thousands except per share amounts):
		Three Months Ended				Nine Months Ended
		November 29,		November 30,		November 29,		November 30,
		2014		2013		2014		2013
	Net income, basic and diluted	$	17,860	$	26,758	$	42,073	$	64,939
	Weighted average shares outstanding during period:
	Basic		89,741		103,319		91,967		105,018
	Effect of dilutive stock options		598		788		709		1,094
	Effect of dilutive restricted stock		296		609		354		830
	Diluted		90,635		104,716		93,030		106,942
	Earnings per share:
	Basic	$	0.2	$	0.26	$	0.46	$	0.62
	Diluted	$	0.2	$	0.26	$	0.45	$	0.61

Matters_Concerning_Shareholder

Matters Concerning Shareholders' Equity	9 Months Ended
	Nov. 29, 2014
Matters Concerning Shareholders' Equity	NOTE 2 – MATTERS CONCERNING SHAREHOLDERS’ EQUITY
	Restricted stock compensation – For the three and nine months ended November 29, 2014, the Company recorded compensation expense related to restricted stock of $349,000 and $5,799,000, respectively. For the three and nine months ended November 30, 2013, the Company recorded compensation expense related to restricted stock of $2,977,000 and $10,194,000, respectively. During the third quarter of fiscal 2015, the Company adjusted compensation expense based upon consideration of the probability of meeting underlying performance targets. Based upon the Company’s analysis, compensation expense related to certain performance based awards was lowered by $2,459,000. As of November 29, 2014, there was approximately $20,429,000 of total unrecognized compensation expense related to unvested restricted stock that may be recognized over a weighted average period of 1.7 years if certain performance targets are achieved.
	During the third quarter of fiscal 2015, the Company awarded one-time grants of service-based long-term restricted stock to certain executive officers. A total of 122,280 shares was awarded, which had a grant date fair value of $12.30. The Company began expensing these shares during the quarter. One half of the shares will vest on October 16, 2019, and the remaining shares will vest on October 16, 2020, provided that the officers continue to be employed on those dates.
	Share repurchase program – During the first nine months of fiscal 2015, the Company repurchased 9,836,912 shares of its common stock at a weighted average cost of $17.06 per share for a total cost of $167,827,000. Of this amount, the Company utilized $96,108,000 to repurchase 5,071,812 shares of the Company’s common stock at a weighted average cost of $18.95 under the $200,000,000 October 2013 share repurchase program, which completed the program. The remaining $71,719,000 was utilized to repurchase 4,765,100 shares of the Company’s common stock at a weighted average cost of $15.05 under the $200,000,000 April 2014 share repurchase program. In fiscal 2015, the Company had cash outflows of $178,289,000 related to share repurchases. These share repurchases included $167,827,000 for shares of common stock repurchased in the first nine months of fiscal 2015, included $11,608,000 for shares of common stock repurchased in fiscal 2014 that settled in fiscal 2015, and excluded $1,146,000 of common stock share repurchases that were settled subsequent to the end of the third quarter of fiscal 2015. Shares repurchased during the period but settled subsequent to the period end are considered non-cash financing activities and are excluded from the Consolidated Statements of Cash Flows. Subsequent to quarter end, through January 2, 2015, the Company utilized a total of $5,730,000 to repurchase 418,200 shares of the Company’s common stock under the April 2014 program at a weighted average cost of $13.70 and $122,551,000 remained available for further share repurchases of common stock under that program.

LongTerm_Debt_and_Available_Cr

Long-Term Debt and Available Credit	9 Months Ended
	Nov. 29, 2014
Long-Term Debt and Available Credit	NOTE 3 – LONG-TERM DEBT AND AVAILABLE CREDIT
	Revolving Credit Facility – The Company completed a second amendment to its secured revolving credit facility (“Revolving Credit Facility”) on April 30, 2014, in order to allow additional borrowings under a new senior secured term loan facility (the “Term Loan Facility”) that closed on the same day. Substantially all other material terms and conditions applicable under the Revolving Credit Facility remain unchanged. The Revolving Credit Facility is secured primarily by merchandise inventory and third-party credit card receivables and certain related assets on a first priority basis and, following the incurrence of the Term Loan Facility indebtedness discussed below, is secured on a second lien basis by substantially all other assets of certain of the Company’s subsidiaries, subject to certain exceptions. Credit extensions under the Revolving Credit Facility are limited to the lesser of $350,000,000 or the amount of the calculated borrowing base, which was $497,600,000 as of November 29, 2014. The Company had $12,000,000 in cash borrowings and $36,538,000 in letters of credit and bankers’ acceptances outstanding under the Revolving Credit Facility, with $301,462,000 remaining available for cash borrowings, all as of November 29, 2014. At the end of the third quarter of fiscal 2015, the $12,000,000 in cash borrowings bore interest at 3.50%. The Company repaid all cash borrowings under the Revolving Credit Facility subsequent to quarter end.
	Term Loan Facility – The Company entered into the Term Loan Facility on April 30, 2014. The Term Loan Facility matures on April 30, 2021, and is secured by a second lien on all assets subject to a first lien under the Revolving Credit Facility and a first lien on substantially all other assets of certain of the Company’s subsidiaries, subject to certain exceptions. At the Company’s option, borrowings under the Term Loan Facility will bear interest, payable quarterly or, if earlier, at the end of each interest period, at either (a) the LIBOR rate (as defined in the Term Loan Facility) subject to a 1% floor plus 350 basis points per year or (b) the base rate (as defined in the Term Loan Facility) subject to a 2% floor plus 250 basis points per year. As of November 29, 2014, the Company had $199,500,000 outstanding under the Term Loan Facility with a carrying value of $197,673,000 net of unamortized discounts. The proceeds of the loan were used for general corporate purposes, including working capital needs, capital expenditures, and share repurchases and dividends permitted under the Term Loan Facility. The Term Loan Facility is subject to quarterly amortization of principal equal to 0.25% of the original aggregate principal amount of the loans, with the balance due at final maturity. The Company is subject to an annual excess cash flow repayment requirement, as defined in the Term Loan Facility, beginning with the fiscal year ending February 2015. At the Company’s option, and subject to the requirements and provisions of the Term Loan Facility, the Company can prepay the Term Loan Facility at any time prior to twelve months after closing subject to a 1% penalty in certain cases, and without penalty thereafter. The fair value of the Term Loan Facility was approximately $199,500,000 as of November 29, 2014, which was measured at fair value using the quoted market price. The Term Loan Facility was classified as Level 2 based on the frequency and volume of trading for which the price was readily available. Level 2 inputs include quoted prices in active markets for similar assets or liabilities; quoted prices for identical or similar assets or liabilities 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 asset or liability.
	The Term Loan Facility includes restrictions on the Company’s ability to, among other things, incur or guarantee additional indebtedness, pay dividends on, or redeem or repurchase shares of the Company’s capital stock, make certain acquisitions or investments, materially change the business of the Company, incur or permit to exist certain liens, enter into transactions with affiliates or sell the Company’s assets to, or merge or consolidate with or into, another company, in each case subject to certain exceptions. The Term Loan Facility does not require the Company to comply with any financial maintenance covenants, but contains certain customary representations and warranties, affirmative covenants and provisions relating to events of default. The Term Loan Facility provides for incremental facilities, subject to certain conditions, including the meeting of certain leverage ratio requirements as defined therein, to the extent such facilities exceed an incremental $200,000,000.

Defined_Benefit_Plans

Defined Benefit Plans	9 Months Ended
	Nov. 29, 2014
Defined Benefit Plans	NOTE 4 – DEFINED BENEFIT PLANS
	The Company maintains supplemental retirement plans (the “Plans”) for certain of its executive officers. The Plans provide that upon death, disability, reaching retirement age or certain termination events, a participant will receive benefits based on highest compensation, years of service and years of plan participation. The Plans are not funded and thus have no plan assets.
	Benefit costs are determined using actuarial cost methods to estimate the total benefits ultimately payable to executive officers and this cost is allocated to the respective service periods. The actuarial assumptions used to calculate benefit costs are reviewed annually, or in the event of a material change in the Plans or participation in the Plans. The components of net periodic benefit cost for the three and nine months ended November 29, 2014 and November 30, 2013, are shown in the table below (in thousands). The amortization of amounts related to unrecognized prior service cost and net actuarial loss was reclassified out of other comprehensive income as a component of net periodic benefit cost.
		Three Months Ended				Nine Months Ended
		November 29,		November 30,		November 29,		November 30,
		2014		2013		2014		2013
	Components of net periodic benefit cost:
	Service cost	$	351	$	364	$	1,052	$	1,092
	Interest cost		206		192		617		574
	Amortization of unrecognized prior service cost		102		102		307		307
	Amortization of net actuarial loss		332		348		997		1,044
	Net periodic benefit cost	$	991	$	1,006	$	2,973	$	3,017

New_Accounting_Pronouncements

New Accounting Pronouncements	9 Months Ended
	Nov. 29, 2014
New Accounting Pronouncements	NOTE 5 – NEW ACCOUNTING PRONOUNCEMENTS
	In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update 2014-09, “Revenue from Contracts with Customers,” which creates a new Topic, Accounting Standards Codification Topic 606. The standard is principle-based and provides a five-step model to determine when and how revenue is recognized. The core principle is that a company should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. This standard is effective for the Company beginning in fiscal 2018 and allows for either full retrospective adoption or modified retrospective adoption. The Company is currently evaluating the impact of the adoption of Topic 606 on its financial statements.
	In June 2014, the Financial Accounting Standards Board issued Accounting Standards Update 2014-12, “Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period.” The standard states that a performance target in a share-based payment that affects vesting and that could be achieved after the requisite service period should be accounted for as a performance condition. This standard is effective for the Company beginning in fiscal 2017 and early adoption is permitted. The Company is currently evaluating the impact of the adoption of this guidance on its financial statements.

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	9 Months Ended
	Nov. 29, 2014
Calculation of Earning Per Share	Earnings per share for the three and nine months ended November 29, 2014 and November 30, 2013, were calculated as follows (in thousands except per share amounts):
		Three Months Ended				Nine Months Ended
		November 29,		November 30,		November 29,		November 30,
		2014		2013		2014		2013
	Net income, basic and diluted	$	17,860	$	26,758	$	42,073	$	64,939
	Weighted average shares outstanding during period:
	Basic		89,741		103,319		91,967		105,018
	Effect of dilutive stock options		598		788		709		1,094
	Effect of dilutive restricted stock		296		609		354		830
	Diluted		90,635		104,716		93,030		106,942
	Earnings per share:
	Basic	$	0.2	$	0.26	$	0.46	$	0.62
	Diluted	$	0.2	$	0.26	$	0.45	$	0.61

Defined_Benefit_Plans_Tables

Defined Benefit Plans (Tables)	9 Months Ended
	Nov. 29, 2014
Components of Net Periodic Benefit Cost	The amortization of amounts related to unrecognized prior service cost and net actuarial loss was reclassified out of other comprehensive income as a component of net periodic benefit cost.
		Three Months Ended				Nine Months Ended
		November 29,		November 30,		November 29,		November 30,
		2014		2013		2014		2013
	Components of net periodic benefit cost:
	Service cost	$	351	$	364	$	1,052	$	1,092
	Interest cost		206		192		617		574
	Amortization of unrecognized prior service cost		102		102		307		307
	Amortization of net actuarial loss		332		348		997		1,044
	Net periodic benefit cost	$	991	$	1,006	$	2,973	$	3,017

Earnings_Per_Share_Additional_

Earnings Per Share - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Nov. 29, 2014	Nov. 30, 2013	Nov. 29, 2014	Nov. 30, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding stock options excluded from computation of earnings per share	233,000	13,000	139,000	7,000

Calculation_of_Earnings_Per_Sh

Calculation of Earnings Per Share (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Nov. 29, 2014	Nov. 30, 2013	Nov. 29, 2014	Nov. 30, 2013
Earnings Per Share Disclosure [Line Items]
Net income, basic and diluted	$17,860	$26,758	$42,073	$64,939
Basic	89,741	103,319	91,967	105,018
Diluted	90,635	104,716	93,030	106,942
Basic	$0.20	$0.26	$0.46	$0.62
Diluted	$0.20	$0.26	$0.45	$0.61
Employee Stock Option
Earnings Per Share Disclosure [Line Items]
Effect of dilutive stock	598	788	709	1,094
Restricted Stock Awards
Earnings Per Share Disclosure [Line Items]
Effect of dilutive stock	296	609	354	830

Matters_Concerning_Shareholder1

Matters Concerning Shareholders' Equity - Additional Information (Detail) (USD $)	9 Months Ended		12 Months Ended	0 Months Ended	1 Months Ended	3 Months Ended
	Nov. 29, 2014	Nov. 30, 2013	Mar. 01, 2014	Jan. 07, 2015	Jan. 02, 2015	Nov. 29, 2014	Nov. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock repurchased under Share repurchase plan	9,836,912
Weighted average cost	$17.06
Cost of shares repurchased	$167,827,000
Payment for repurchased shares	178,289,000	114,025,000
Share Repurchase Program October 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock repurchased under Share repurchase plan	5,071,812
Weighted average cost	$18.95
Cost of shares repurchased	96,108,000		11,608,000
Share repurchase program, amount of common stock	200,000,000					200,000,000
Payment for repurchased shares	178,289,000
Share Repurchase Program October 2013 | Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cost of shares repurchased				1,146,000
Share Repurchase Program April 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock repurchased under Share repurchase plan	4,765,100
Weighted average cost	$15.05
Cost of shares repurchased	71,719,000
Share repurchase program, amount of common stock	200,000,000					200,000,000
Share Repurchase Program April 2014 | Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock repurchased under Share repurchase plan					418,200
Weighted average cost					$13.70
Cost of shares repurchased					5,730
Amount remained for repurchase					122,551,000
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recorded stock-based compensation expense	5,799,000	10,194,000				349,000	2,977,000
Total unrecognized compensation expense related to unvested stock option awards	20,429,000					20,429,000
Weighted average period for recognizing unrecognized compensation expense, in years	1 year 8 months 12 days
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recorded stock-based compensation expense						($2,459,000)
Service Based Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded						122,280
Weighted average grant date fair value						$12.30
Service Based Restricted Stock | Share-based Compensation Award, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded, vesting percentage						50.00%
Shares awarded, vesting date						16-Oct-19
Service Based Restricted Stock | Share-based Compensation Award, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded, vesting percentage						50.00%
Shares awarded, vesting date						16-Oct-20

LongTerm_Debt_and_Available_Cr1

Long-Term Debt and Available Credit - Additional Information (Detail) (USD $)	9 Months Ended
	Nov. 29, 2014
Term Loan Facility
Debt Instrument [Line Items]
Maximum borrowings under credit facility	$200,000,000
Borrowings outstanding	199,500,000
Term loan facility, maturity date	30-Apr-21
Amount of notes payable	197,673,000
Term loan facility, quarterly amortization of principal amount of loans	0.25%
Prepayment penalty rate	1.00%
Term Loan Facility | Fair Value, Inputs, Level 2
Debt Instrument [Line Items]
Fair value of term loan facility	199,500,000
Term Loan Facility | LIBOR
Debt Instrument [Line Items]
Interest floor rate	1.00%
Basis points	3.50%
Term Loan Facility | Base Rate
Debt Instrument [Line Items]
Interest floor rate	2.00%
Basis points	2.50%
Letters of Credit And Bankers' Acceptances
Debt Instrument [Line Items]
Borrowings outstanding	36,538,000
Secured Debt | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowings under credit facility	350,000,000
Credit facility borrowing base	497,600,000
Borrowings outstanding	12,000,000
Remaining borrowing	$301,462,000
Line of credit interest rate at period end	3.50%

Components_of_Net_Periodic_Ben

Components of Net Periodic Benefit Costs (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Nov. 29, 2014	Nov. 30, 2013	Nov. 29, 2014	Nov. 30, 2013
Components of net periodic benefit cost:
Service cost	$351	$364	$1,052	$1,092
Interest cost	206	192	617	574
Amortization of unrecognized prior service cost	102	102	307	307
Amortization of net actuarial loss	332	348	997	1,044
Net periodic benefit cost	$991	$1,006	$2,973	$3,017