Dillard's (DDS) 10-Q 4 Sep 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Aug. 02, 2014	Aug. 30, 2014	Aug. 30, 2014
		Common Stock Class A	Common Stock Class B
Entity Registrant Name	'DILLARDS INC	'	'
Entity Central Index Key	'0000028917	'	'
Document Type	'10-Q	'	'
Document Period End Date	2-Aug-14	'	'
Amendment Flag	'false	'	'
Current Fiscal Year End Date	'--01-31	'	'
Entity Current Reporting Status	'Yes	'	'
Entity Filer Category	'Large Accelerated Filer	'	'
Entity Common Stock, Shares Outstanding	'	39,065,839	4,010,929
Document Fiscal Year Focus	'2014	'	'
Document Fiscal Period Focus	'Q2	'	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Aug. 02, 2014	Feb. 01, 2014	Aug. 03, 2013
In Thousands, unless otherwise specified
Current assets:	'	'	'
Cash and cash equivalents	$235,331	$237,134	$113,735
Accounts receivable	19,331	30,840	26,239
Merchandise inventories	1,429,220	1,345,321	1,459,284
Other current assets	50,053	46,861	50,067
Total current assets	1,733,935	1,660,156	1,649,325
Property and equipment (net of accumulated depreciation and amortization of $2,379,919, $2,260,675 and $2,288,603)	2,081,577	2,134,200	2,198,693
Other assets	254,615	256,383	259,445
Total assets	4,070,127	4,050,739	4,107,463
Current liabilities:	'	'	'
Trade accounts payable and accrued expenses	658,239	640,336	713,103
Current portion of capital lease obligations	813	784	918
Federal and state income taxes including current deferred taxes	86,309	137,191	83,512
Total current liabilities	745,361	778,311	797,533
Long-term debt	614,785	614,785	614,785
Capital lease obligations	6,348	6,759	7,150
Other liabilities	231,709	228,439	229,155
Deferred income taxes	203,000	230,248	248,002
Subordinated debentures	200,000	200,000	200,000
Commitments and contingencies	'	'	'
Stockholdersb equity:	'	'	'
Common stock	1,237	1,237	1,237
Additional paid-in capital	936,106	935,208	933,264
Accumulated other comprehensive loss	-23,253	-24,074	-25,785
Retained earnings	3,554,170	3,413,240	3,248,620
Less treasury stock, at cost	-2,399,336	-2,333,414	-2,146,498
Total stockholdersb equity	2,068,924	1,992,197	2,010,838
Total liabilities and stockholdersb equity	$4,070,127	$4,050,739	$4,107,463

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Aug. 02, 2014	Feb. 01, 2014	Aug. 03, 2013
In Thousands, unless otherwise specified
Statement of Financial Position [Abstract]	'	'	'
Property and equipment, accumulated depreciation and amortization	$2,379,919	$2,260,675	$2,288,603

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND RETAINED EARNINGS (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Aug. 02, 2014	Aug. 03, 2013	Aug. 02, 2014	Aug. 03, 2013
Income Statement [Abstract]	'	'	'	'
Net sales	$1,474,484	$1,479,852	$3,025,798	$3,028,988
Service charges and other income	38,404	36,944	75,631	77,189
Total net sales, service charges and other income	1,512,888	1,516,796	3,101,429	3,106,177
Cost of sales	976,269	976,822	1,915,493	1,914,607
Selling, general and administrative expenses	400,459	398,218	794,110	788,414
Depreciation and amortization	62,058	64,244	124,017	129,360
Rentals	5,860	5,532	11,675	11,103
Interest and debt expense, net	15,203	16,246	31,044	32,556
Gain on disposal of assets	-50	-24	-439	-12,369
Asset impairment and store closing charges	'	'	0	6,527
Income before income taxes and income on and equity in losses of joint ventures	53,089	55,758	225,529	235,979
Income taxes	18,890	19,675	79,850	83,095
Income on and equity in losses of joint ventures	250	408	453	817
Net Income	34,449	36,491	146,132	153,701
Retained Earnings [Roll Forward]	'	'	'	'
Retained earnings at beginning of period	3,522,314	3,214,446	3,413,240	3,099,566
Cash dividends declared	-2,593	-2,317	-5,202	-4,647
Retained earnings at end of period	$3,554,170	$3,248,620	$3,554,170	$3,248,620
Earnings per share:	'	'	'	'
Earnings Per Share, Basic and Diluted	$0.80	$0.79	$3.36	$3.30
Cash dividends declared per common share (in dollars per share)	$0.06	$0.05	$0.12	$0.10

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Aug. 02, 2014	Aug. 03, 2013	Aug. 02, 2014	Aug. 03, 2013
Statement of Comprehensive Income [Abstract]	'	'	'	'
Net Income	$34,449	$36,491	$146,132	$153,701
Other comprehensive income:	'	'	'	'
Amortization of retirement plan and other retiree benefit adjustments (net of tax of $254, $297, $509 and $3,395)	411	480	821	5,490
Comprehensive income	$34,860	$36,971	$146,953	$159,191

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Aug. 02, 2014	Aug. 03, 2013	Aug. 02, 2014	Aug. 03, 2013
Statement of Comprehensive Income [Abstract]	'	'	'	'
Amortization of retirement plan and other retiree benefit adjustments, tax	$254	$297	$509	$3,395

CONDENSED_CONSOLIDATED_STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Aug. 02, 2014	Aug. 03, 2013
Operating activities:	'	'
Net Income	$146,132	$153,701
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation and amortization of property and deferred financing costs	124,791	130,343
Gain on disposal of assets	-439	-12,369
Asset impairment and store closing charges	0	6,527
Changes in operating assets and liabilities:	'	'
Decrease in accounts receivable	11,509	5,280
Increase in merchandise inventories	-83,899	-164,703
Increase in other current assets	-2,294	-7,478
Decrease in other assets	1,049	1,324
Increase in trade accounts payable and accrued expenses and other liabilities	15,117	54,870
Decrease in income taxes payable	-78,130	-35,775
Net cash provided by operating activities	133,836	131,720
Investing activities:	'	'
Purchases of property and equipment	-68,818	-40,868
Proceeds from disposal of assets	4,728	18,269
Net cash used in investing activities	-64,090	-22,599
Financing activities:	'	'
Principal payments on long-term debt and capital lease obligations	-382	-1,166
Issuance cost of line of credit	0	-1,300
Cash dividends paid	-5,245	-2,330
Purchase of treasury stock	-65,922	-114,650
Net cash used in financing activities	-71,549	-119,446
Decrease in cash and cash equivalents	-1,803	-10,325
Cash and cash equivalents, beginning of period	237,134	124,060
Cash and cash equivalents, end of period	235,331	113,735
Non-cash transactions:	'	'
Accrued capital expenditures	16,695	3,300
Stock Issued	$898	$769

Basis_of_Presentation

Basis of Presentation	6 Months Ended
	Aug. 02, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Basis of Presentation	'
	Basis of Presentation
	The accompanying unaudited interim condensed consolidated financial statements of Dillard’s, Inc. (the “Company”) have been prepared in accordance with the rules of the Securities and Exchange Commission (“SEC”).  Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America (“GAAP”) for complete financial statements.  In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included.  Operating results for the three and six months ended August 2, 2014 are not necessarily indicative of the results that may be expected for the fiscal year ending January 31, 2015 due to the seasonal nature of the business.
	These unaudited interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended February 1, 2014 filed with the SEC on March 27, 2014.

Business_Segments

Business Segments	6 Months Ended
	Aug. 02, 2014
Segment Reporting [Abstract]	'
Business Segments	'
	Business Segments
	The Company operates in two reportable segments:  the operation of retail department stores (“retail operations”) and a general contracting construction company (“construction”).
	For the Company’s retail operations, the Company determined its operating segments on a store by store basis.  Each store’s operating performance has been aggregated into one reportable segment.  The Company’s operating segments are aggregated for financial reporting purposes because they are similar in each of the following areas: economic characteristics, class of consumer, nature of products and distribution methods. Revenues from external customers are derived from merchandise sales, and the Company does not rely on any major customers as a source of revenue. Across all stores, the Company operates one store format under the Dillard’s name where each store offers the same general mix of merchandise with similar categories and similar customers.  The Company believes that disaggregating its operating segments would not provide meaningful additional information.
	The following tables summarize certain segment information, including the reconciliation of those items to the Company’s consolidated operations:
	(in thousands of dollars)	Retail		Construction			Consolidated
		Operations
	Three Months Ended August 2, 2014:
	Net sales from external customers	$	1,461,134	$	13,350		$	1,474,484
	Gross profit	497,319		896			498,215
	Depreciation and amortization	61,983		75			62,058
	Interest and debt expense (income), net	15,212		(9		)	15,203
	Income (loss) before income taxes and income on and equity in losses of joint ventures	53,752		(663		)	53,089
	Income on and equity in losses of joint ventures	250		—			250
	Total assets	4,045,457		24,670			4,070,127
	Three Months Ended August 3, 2013:
	Net sales from external customers	$	1,458,778	$	21,074		$	1,479,852
	Gross profit	501,417		1,613			503,030
	Depreciation and amortization	64,186		58			64,244
	Interest and debt expense (income), net	16,262		(16		)	16,246
	Income before income taxes and income on and equity in losses of joint ventures	55,282		476			55,758
	Income on and equity in losses of joint ventures	408		—			408
	Total assets	4,074,433		33,030			4,107,463
	Six Months Ended August 2, 2014:
	Net sales from external customers	$	3,000,327	$	25,471		$	3,025,798
	Gross profit	1,108,691		1,614			1,110,305
	Depreciation and amortization	123,868		149			124,017
	Interest and debt expense (income), net	31,066		(22		)	31,044
	Income (loss) before income taxes and income on and equity in losses of joint ventures	226,988		(1,459		)	225,529
	Income on and equity in losses of joint ventures	453		—			453
	Total assets	4,045,457		24,670			4,070,127
	Six Months Ended August 3, 2013:
	Net sales from external customers	$	2,988,778	$	40,210		$	3,028,988
	Gross profit	1,111,306		3,075			1,114,381
	Depreciation and amortization	129,243		117			129,360
	Interest and debt expense (income), net	32,592		(36		)	32,556
	Income before income taxes and income on and equity in losses of joint ventures	235,181		798			235,979
	Income on and equity in losses of joint ventures	817		—			817
	Total assets	4,074,433		33,030			4,107,463
	Intersegment construction revenues of $29.1 million and $43.8 million for the three and six months ended August 2, 2014, respectively, and intersegment construction revenues of $10.6 million and $12.4 million for the three and six months ended August 3, 2013, respectively, were eliminated during consolidation and have been excluded from net sales for the respective periods.

StockBased_Compensation

Stock-Based Compensation	6 Months Ended
	Aug. 02, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Stock-Based Compensation	'
	Stock-Based Compensation
	The Company has various stock option plans that provide for the granting of options to purchase shares of Class A Common Stock to certain key employees of the Company.  Exercise and vesting terms for options granted under the plans are determined at each grant date.  No stock options were granted during the three and six months ended August 2, 2014 and August 3, 2013, and no stock options were outstanding at August 2, 2014.

Asset_Impairment_and_Store_Clo

Asset Impairment and Store Closing Charges	6 Months Ended
	Aug. 02, 2014
Asset Impairment and Store Closing Charges	'
Asset Impairment and Store Closing Charges	'
	Asset Impairment and Store Closing Charges
	During the six months ended August 3, 2013, the Company recorded a pretax charge of $6.5 million for asset impairment and store closing costs.  The charge was for the write-down of an operating property and certain cost method investments.

Earnings_Per_Share_Data

Earnings Per Share Data	6 Months Ended
	Aug. 02, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share Data	'
	Earnings Per Share Data
	The following table sets forth the computation of basic and diluted earnings per share for the periods indicated (in thousands, except per share data).
		Three Months Ended				Six Months Ended
		August 2,		August 3,		August 2,		August 3,
		2014		2013		2014		2013
	Net income	$	34,449	$	36,491	$	146,132	$	153,701
	Weighted average shares of common stock outstanding	43,217		46,327		43,434		46,632
	Basic and diluted earnings per share	$	0.8	$	0.79	$	3.36	$	3.3
	The Company maintains a capital structure in which common stock is the only security issued and outstanding, and there were no shares of preferred stock, stock options, other dilutive securities or potentially dilutive securities issued or outstanding during the three or six months ended August 2, 2014 and August 3, 2013.

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Aug. 02, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	Commitments and Contingencies
	Various legal proceedings, in the form of lawsuits and claims, which occur in the normal course of business, are pending against the Company and its subsidiaries.  In the opinion of management, disposition of these matters is not expected to have a material adverse effect on the Company’s financial position, cash flows or results of operations.
	At August 2, 2014, letters of credit totaling $33.0 million were issued under the Company’s revolving credit facility.

Benefit_Plans

Benefit Plans	6 Months Ended
	Aug. 02, 2014
Compensation and Retirement Disclosure [Abstract]	'
Benefit Plans	'
	Benefit Plans
	The Company has an unfunded, nonqualified defined benefit plan (“Pension Plan”) for its officers.  The Pension Plan is noncontributory and provides benefits based on years of service and compensation during employment.  Pension expense is determined using various actuarial cost methods to estimate the total benefits ultimately payable to officers and allocates this cost to service periods.  The actuarial assumptions used to calculate pension costs are reviewed annually.  The Company made contributions to the Pension Plan of $0.8 million and $1.4 million during the three and six months ended August 2, 2014, respectively.  The Company expects to make contributions to the Pension Plan of approximately $1.5 million during the remainder of fiscal 2014.
	The components of net periodic benefit costs are as follows (in thousands):
		Three Months Ended				Six Months Ended
		August 2,		August 3,		August 2,		August 3,
		2014		2013		2014		2013
	Components of net periodic benefit costs:
	Service cost	$	1,099	$	1,059	$	2,198	$	2,118
	Interest cost	1,911		1,695		3,822		3,391
	Net actuarial loss	665		753		1,330		1,506
	Amortization of prior service cost	—		24		—		48
	Plan curtailment gain	—		—		—		(1,480		)
	Net periodic benefit costs	$	3,675	$	3,531	$	7,350	$	5,583
	Net periodic benefit costs are included in selling, general and administrative expenses.

Revolving_Credit_Agreement

Revolving Credit Agreement	6 Months Ended
	Aug. 02, 2014
Line of Credit Facility [Abstract]	'
Revolving Credit Agreement	'
	Revolving Credit Agreement
	At August 2, 2014, the Company maintained a $1.0 billion revolving credit facility (“credit agreement”) with J. P. Morgan Securities LLC (“JPMorgan”) and Wells Fargo Capital Finance, LLC as the lead agents for various banks, secured by the inventory of certain Dillard’s, Inc. operating subsidiaries.  The credit agreement expires July 1, 2018.
	Borrowings under the credit agreement accrue interest at either JPMorgan’s Base Rate or LIBOR plus 1.5% (1.66% at August 2, 2014) subject to certain availability thresholds as defined in the credit agreement.
	Limited to 90% of the inventory of certain Company subsidiaries, availability for borrowings and letter of credit obligations under the credit agreement was $962.7 million at August 2, 2014.  No borrowings were outstanding at August 2, 2014, and letters of credit totaling $33.0 million were issued under this credit agreement leaving unutilized availability under the facility of approximately $930 million at August 2, 2014.  There are no financial covenant requirements under the credit agreement provided availability exceeds $100 million.  The Company pays an annual commitment fee to the banks of 0.25% of the committed amount less outstanding borrowings and letters of credit.

Stock_Repurchase_Programs

Stock Repurchase Programs	6 Months Ended
	Aug. 02, 2014
Stock Repurchase Programs	'
Stock Repurchase Programs	'
	Stock Repurchase Programs
	All repurchases of the Company’s Class A Common Stock below were made at the market price at the trade date.  Accordingly, all amounts paid to reacquire these shares were allocated to Treasury Stock.
	November 2013 Stock Plan
	In November 2013, the Company’s Board of Directors authorized the Company to repurchase up to $250 million of the Company’s Class A Common Stock under an open-ended stock plan (“November 2013 Stock Plan”).  This authorization permits the Company to repurchase its Class A Common Stock in the open market, pursuant to preset trading plans meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934 (“Exchange Act”) or through privately negotiated transactions.  The November 2013 Stock Plan has no expiration date. During the six months ended August 2, 2014, the Company repurchased 0.3 million shares for $25.5 million at an average price of $89.82 per share.  At August 2, 2014, $224.5 million of authorization remained under the November 2013 Stock Plan.
	March 2013 Stock Plan
	In March 2013, the Company’s Board of Directors authorized the Company to repurchase up to $250 million of the Company’s Class A Common Stock under an open-ended stock plan (“March 2013 Stock Plan”).  This authorization permitted the Company to repurchase its Class A Common Stock in the open market, pursuant to preset trading plans meeting the requirements of Rule 10b5-1 under the Exchange Act or through privately negotiated transactions. During the six months ended August 2, 2014 and August 3, 2013, the Company repurchased 0.5 million and 0.3 million shares for $40.4 million and $22.7 million at an average price of $89.04 and $79.04 per share, respectively.  At August 2, 2014, no authorization remained under the March 2013 Stock Plan.
	2012 Stock Plan
	In February 2012, the Company’s Board of Directors authorized the Company to repurchase up to $250 million of the Company’s Class A Common Stock under an open-ended stock plan (“2012 Stock Plan”).  This authorization permitted the Company to repurchase its Class A Common Stock in the open market, pursuant to preset trading plans meeting the requirements of Rule 10b5-1 under the Exchange Act or through privately negotiated transactions.  During the six months ended August 3, 2013, the Company repurchased 1.2 million shares for $92.0 million at an average price of $79.14 per share, which completed the authorization under the 2012 Stock Plan.

Income_Taxes

Income Taxes	6 Months Ended
	Aug. 02, 2014
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	Income Taxes
	During the three months ended August 2, 2014, income tax expense differed from what would be computed using the statutory federal tax rate primarily due to the effect of state and local income taxes.  During the three months ended August 3, 2013, income tax expense differed from what would be computed using the statutory federal tax rate primarily due to the effect of state and local income taxes partially offset by tax benefits recognized for federal tax credits.
	During the six months ended August 2, 2014, income tax expense differed from what would be computed using the statutory federal tax rate primarily due to the effect of state and local income taxes.  During the six months ended August 3, 2013, income tax expense differed from what would be computed using the statutory federal tax rate primarily due to the effect of state and local income taxes partially offset by tax benefits recognized for federal tax credits.

Reclassifications_from_Accumul

Reclassifications from Accumulated Other Comprehensive Loss ("AOCL")	6 Months Ended
	Aug. 02, 2014
Reclassifications from Accumulated Other Comprehensive Loss ("AOCL")	'
Reclassifications from Accumulated Other Comprehensive Loss ("AOCL")	'
	Reclassifications from Accumulated Other Comprehensive Loss (“AOCL”)
	Reclassifications from AOCL are summarized as follows (in thousands):
		Amount Reclassified from AOCL
		Three Months Ended				Six Months Ended				Affected Line Item in the Statement Where Net Income Is Presented
	Details about AOCL Components	2-Aug-14		3-Aug-13		2-Aug-14		3-Aug-13
	Defined benefit pension plan items
	Amortization of prior service cost	$	—	$	24	$	—	$	48	-1
	Amortization of actuarial losses	665		753		1,330		1,506		-1
	Plan curtailment gain	—		—		—		7,331		-2
		665		777		1,330		8,885		Total before tax
		254		297		509		3,395		Income tax expense
		$	411	$	480	$	821	$	5,490	Total net of tax
	_______________________________
	(1)        These items are included in the computation of net periodic pension cost.  See Note 7, Benefit Plans, for additional information.
	(2)        The excess of the pension liability for the curtailed plan over the amount shown here is included in the computation of net periodic pension cost.  See Note 7, Benefit Plans, for additional information.

Changes_in_Accumulated_Other_C

Changes in Accumulated Other Comprehensive Loss	6 Months Ended
	Aug. 02, 2014
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]	'
Changes in Accumulated Other Comprehensive Loss	'
	Changes in Accumulated Other Comprehensive Loss
	Changes in AOCL by component (net of tax) are summarized as follows (in thousands):
		Defined Benefit Pension Plan Items
		Three Months Ended						Six Months Ended
		2-Aug-14			3-Aug-13			2-Aug-14			3-Aug-13
	Beginning balance	$	23,664		$	26,265		$	24,074		$	31,275
	Other comprehensive income before reclassifications	—			—			—			—
	Amounts reclassified from AOCL	(411		)	(480		)	(821		)	(5,490		)
	Net other comprehensive income	(411		)	(480		)	(821		)	(5,490		)
	Ending balance	$	23,253		$	25,785		$	23,253		$	25,785

Gain_on_Disposal_of_Assets

Gain on Disposal of Assets	6 Months Ended
	Aug. 02, 2014
Discontinued Operations and Disposal Groups [Abstract]	'
Gain on Disposal of Assets	'
	Gain on Disposal of Assets
	During the six months ended August 3, 2013, the Company received proceeds of $15.7 million from the sale of its investment in Acumen Brands, an eCommerce company based in Fayetteville, Arkansas.  The sale resulted in a gain of $11.7 million that was recorded in gain on disposal of assets.
	During the six months ended August 3, 2013, the Company also received proceeds of $1.7 million from the sale of two former retail stores located in Oklahoma City, Oklahoma and Pasadena, Texas that were held for sale, resulting in a gain of $0.6 million that was recorded in gain on disposal of assets.

Fair_Value_Disclosures

Fair Value Disclosures	6 Months Ended
	Aug. 02, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Disclosures	'
	Fair Value Disclosures
	The estimated fair values of financial instruments which are presented herein have been determined by the Company using available market information and appropriate valuation methodologies. However, considerable judgment is required in interpreting market data to develop estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of amounts the Company could realize in a current market exchange.
	The fair value of the Company’s long-term debt and subordinated debentures is based on market prices or dealer quotes.
	The fair value of the Company’s cash and cash equivalents, accounts receivable and other short-term borrowings approximates their carrying values at August 2, 2014 due to the short-term maturities of these instruments.  The fair value of the Company’s long-term debt at August 2, 2014 was approximately $687 million.  The carrying value of the Company’s long-term debt at August 2, 2014 was $615 million.  The fair value of the Company’s subordinated debentures at August 2, 2014 was approximately $208 million.  The carrying value of the Company’s subordinated debentures at August 2, 2014 was $200 million.
	During the six months ended August 3, 2013, the Company recognized an impairment charge of $5.4 million on certain cost method investments.  The Company evaluated all factors and determined that an other-than-temporary impairment charge was necessary.  These investments are recorded in other assets on the balance sheet.
	Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
	The Financial Accounting Standards Board's ("FASB") accounting guidance utilizes a fair value hierarchy that prioritizes the inputs to the valuation techniques used to measure fair value into three broad levels:
	•	Level 1:  Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities
	•Level 2:  Inputs, other than quoted prices, that are observable for the asset or liability, either directly or indirectly; these include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active
	•	Level 3:  Unobservable inputs that reflect the reporting entity’s own assumptions
					Basis of Fair Value Measurements
			Fair Value		Quoted Prices In Active		Significant Other		Significant
			of Assets		Markets for		Observable		Unobservable
					Identical Items		Inputs		Inputs
	(in thousands)		(Liabilities)		(Level 1)		(Level 2)		(Level 3)
	Long-lived assets held for use
	As of August 3, 2013		$	3,000	$	—	$	3,000	$	—
	Long-lived assets held for use
	During the six months ended August 3, 2013, a long-lived asset group held for use was written down to its fair value of $3.0 million, resulting in an impairment charge of $1.2 million, which was charged against earnings during the period.  The inputs used to calculate the fair value of these long-lived assets held for use were based upon an offer to purchase the property.

Recently_Issued_Accounting_Sta

Recently Issued Accounting Standards	6 Months Ended
	Aug. 02, 2014
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]	'
Recently Issued Accounting Standards	'
	Recently Issued Accounting Standards
	Presentation of Discontinued Operations
	In April 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, which stipulates that the disposal of a component of an entity is to be reported in discontinued operations only if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results. The pronouncement also removed the conditions that (a) the operations and cash flows of the component have been (or will be) eliminated from the ongoing operations of the entity as a result of the disposal transaction and (b) the entity will not have any significant continuing involvement in the operations of the component after the disposal transaction. The Company adopted this guidance as of the beginning of its fiscal year 2014. The adoption of this guidance had no impact on the Company's condensed consolidated financial statements.
	Revenue from Contracts with Customers
	In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which stipulates that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve this core principle, an entity should apply the following steps: (1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract and (5) recognize revenue when (or as) the entity satisfies a performance obligation. This update will be effective for the Company retrospectively beginning in the first quarter of fiscal 2017 with early adoption not permitted. The Company is currently assessing the impact of this update on its condensed consolidated financial statements.

Business_Segments_Tables

Business Segments (Tables)	6 Months Ended
	Aug. 02, 2014
Segment Reporting [Abstract]	'
Schedule of segment information	'
	The following tables summarize certain segment information, including the reconciliation of those items to the Company’s consolidated operations:
	(in thousands of dollars)	Retail		Construction			Consolidated
		Operations
	Three Months Ended August 2, 2014:
	Net sales from external customers	$	1,461,134	$	13,350		$	1,474,484
	Gross profit	497,319		896			498,215
	Depreciation and amortization	61,983		75			62,058
	Interest and debt expense (income), net	15,212		(9		)	15,203
	Income (loss) before income taxes and income on and equity in losses of joint ventures	53,752		(663		)	53,089
	Income on and equity in losses of joint ventures	250		—			250
	Total assets	4,045,457		24,670			4,070,127
	Three Months Ended August 3, 2013:
	Net sales from external customers	$	1,458,778	$	21,074		$	1,479,852
	Gross profit	501,417		1,613			503,030
	Depreciation and amortization	64,186		58			64,244
	Interest and debt expense (income), net	16,262		(16		)	16,246
	Income before income taxes and income on and equity in losses of joint ventures	55,282		476			55,758
	Income on and equity in losses of joint ventures	408		—			408
	Total assets	4,074,433		33,030			4,107,463
	Six Months Ended August 2, 2014:
	Net sales from external customers	$	3,000,327	$	25,471		$	3,025,798
	Gross profit	1,108,691		1,614			1,110,305
	Depreciation and amortization	123,868		149			124,017
	Interest and debt expense (income), net	31,066		(22		)	31,044
	Income (loss) before income taxes and income on and equity in losses of joint ventures	226,988		(1,459		)	225,529
	Income on and equity in losses of joint ventures	453		—			453
	Total assets	4,045,457		24,670			4,070,127
	Six Months Ended August 3, 2013:
	Net sales from external customers	$	2,988,778	$	40,210		$	3,028,988
	Gross profit	1,111,306		3,075			1,114,381
	Depreciation and amortization	129,243		117			129,360
	Interest and debt expense (income), net	32,592		(36		)	32,556
	Income before income taxes and income on and equity in losses of joint ventures	235,181		798			235,979
	Income on and equity in losses of joint ventures	817		—			817
	Total assets	4,074,433		33,030			4,107,463

Earnings_Per_Share_Data_Tables

Earnings Per Share Data (Tables)	6 Months Ended
	Aug. 02, 2014
Earnings Per Share [Abstract]	'
Schedule of computation of basic and diluted earnings per share	'
	The following table sets forth the computation of basic and diluted earnings per share for the periods indicated (in thousands, except per share data).
		Three Months Ended				Six Months Ended
		August 2,		August 3,		August 2,		August 3,
		2014		2013		2014		2013
	Net income	$	34,449	$	36,491	$	146,132	$	153,701
	Weighted average shares of common stock outstanding	43,217		46,327		43,434		46,632
	Basic and diluted earnings per share	$	0.8	$	0.79	$	3.36	$	3.3

Benefit_Plans_Tables

Benefit Plans (Tables)	6 Months Ended
	Aug. 02, 2014
Compensation and Retirement Disclosure [Abstract]	'
Schedule of components of net periodic benefit costs	'
	The components of net periodic benefit costs are as follows (in thousands):
		Three Months Ended				Six Months Ended
		August 2,		August 3,		August 2,		August 3,
		2014		2013		2014		2013
	Components of net periodic benefit costs:
	Service cost	$	1,099	$	1,059	$	2,198	$	2,118
	Interest cost	1,911		1,695		3,822		3,391
	Net actuarial loss	665		753		1,330		1,506
	Amortization of prior service cost	—		24		—		48
	Plan curtailment gain	—		—		—		(1,480		)
	Net periodic benefit costs	$	3,675	$	3,531	$	7,350	$	5,583
	Net periodic benefit costs are included in selling, general and administrative expenses.

Reclassifications_from_Accumul1

Reclassifications from Accumulated Other Comprehensive Loss ("AOCL") (Tables)	6 Months Ended
	Aug. 02, 2014
Reclassifications from Accumulated Other Comprehensive Loss ("AOCL")	'
Summary of reclassifications from AOCL	'
	Reclassifications from AOCL are summarized as follows (in thousands):
		Amount Reclassified from AOCL
		Three Months Ended				Six Months Ended				Affected Line Item in the Statement Where Net Income Is Presented
	Details about AOCL Components	2-Aug-14		3-Aug-13		2-Aug-14		3-Aug-13
	Defined benefit pension plan items
	Amortization of prior service cost	$	—	$	24	$	—	$	48	-1
	Amortization of actuarial losses	665		753		1,330		1,506		-1
	Plan curtailment gain	—		—		—		7,331		-2
		665		777		1,330		8,885		Total before tax
		254		297		509		3,395		Income tax expense
		$	411	$	480	$	821	$	5,490	Total net of tax
	_______________________________
	(1)        These items are included in the computation of net periodic pension cost.  See Note 7, Benefit Plans, for additional information.
	(2)        The excess of the pension liability for the curtailed plan over the amount shown here is included in the computation of net periodic pension cost.  See Note 7, Benefit Plans, for additional information.

Changes_in_Accumulated_Other_C1

Changes in Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Aug. 02, 2014
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]	'
Summary of changes in AOCL by component (net of tax)	'
	Changes in AOCL by component (net of tax) are summarized as follows (in thousands):
		Defined Benefit Pension Plan Items
		Three Months Ended						Six Months Ended
		2-Aug-14			3-Aug-13			2-Aug-14			3-Aug-13
	Beginning balance	$	23,664		$	26,265		$	24,074		$	31,275
	Other comprehensive income before reclassifications	—			—			—			—
	Amounts reclassified from AOCL	(411		)	(480		)	(821		)	(5,490		)
	Net other comprehensive income	(411		)	(480		)	(821		)	(5,490		)
	Ending balance	$	23,253		$	25,785		$	23,253		$	25,785

Fair_Value_Disclosures_Tables

Fair Value Disclosures (Tables)	6 Months Ended
	Aug. 02, 2014
Fair Value Disclosures [Abstract]	'
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis	'
	The Financial Accounting Standards Board's ("FASB") accounting guidance utilizes a fair value hierarchy that prioritizes the inputs to the valuation techniques used to measure fair value into three broad levels:
	•	Level 1:  Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities
	•Level 2:  Inputs, other than quoted prices, that are observable for the asset or liability, either directly or indirectly; these include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active
	•	Level 3:  Unobservable inputs that reflect the reporting entity’s own assumptions
					Basis of Fair Value Measurements
			Fair Value		Quoted Prices In Active		Significant Other		Significant
			of Assets		Markets for		Observable		Unobservable
					Identical Items		Inputs		Inputs
	(in thousands)		(Liabilities)		(Level 1)		(Level 2)		(Level 3)
	Long-lived assets held for use
	As of August 3, 2013		$	3,000	$	—	$	3,000	$	—

Business_Segments_Details

Business Segments (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Aug. 02, 2014	Aug. 03, 2013	Aug. 02, 2014	Aug. 03, 2013	Feb. 01, 2014
			segment
Business Segments	'	'	'	'	'
Number of reportable segments	'	'	2	'	'
Net sales from external customers	$1,474,484	$1,479,852	$3,025,798	$3,028,988	'
Gross profit	498,215	503,030	1,110,305	1,114,381	'
Depreciation and amortization	62,058	64,244	124,017	129,360	'
Interest and debt expense (income), net	15,203	16,246	31,044	32,556	'
Income before income taxes and income on and equity in losses of joint ventures	53,089	55,758	225,529	235,979	'
Income on and equity in losses of joint ventures	250	408	453	817	'
Total assets	4,070,127	4,107,463	4,070,127	4,107,463	4,050,739
Retail operations	'	'	'	'	'
Business Segments	'	'	'	'	'
Number of reportable segments	'	'	1	'	'
Number of store formats	'	'	1	'	'
Net sales from external customers	1,461,134	1,458,778	3,000,327	2,988,778	'
Gross profit	497,319	501,417	1,108,691	1,111,306	'
Depreciation and amortization	61,983	64,186	123,868	129,243	'
Interest and debt expense (income), net	15,212	16,262	31,066	32,592	'
Income before income taxes and income on and equity in losses of joint ventures	53,752	55,282	226,988	235,181	'
Income on and equity in losses of joint ventures	250	408	453	817	'
Total assets	4,045,457	4,074,433	4,045,457	4,074,433	'
Construction	'	'	'	'	'
Business Segments	'	'	'	'	'
Net sales from external customers	13,350	21,074	25,471	40,210	'
Gross profit	896	1,613	1,614	3,075	'
Depreciation and amortization	75	58	149	117	'
Interest and debt expense (income), net	-9	-16	-22	-36	'
Income before income taxes and income on and equity in losses of joint ventures	-663	476	-1,459	798	'
Total assets	24,670	33,030	24,670	33,030	'
Intersegment Eliminations [Member]	'	'	'	'	'
Business Segments	'	'	'	'	'
Net sales from external customers	$29,100	$10,600	$43,800	$12,400	'

StockBased_Compensation_Detail

Stock-Based Compensation (Details)	3 Months Ended		6 Months Ended
	Aug. 02, 2014	Aug. 03, 2013	Aug. 02, 2014	Aug. 03, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'	'	'	'
Stock options granted during period (in shares)	0	0	0	0
Total stock options outstanding (in shares)	0	'	0	'

Asset_Impairment_and_Store_Clo1

Asset Impairment and Store Closing Charges (Details) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Aug. 02, 2014	Aug. 03, 2013
Asset Impairment and Store Closing Charges	'	'
Asset impairment and store closing charges	$0	$6,527

Earnings_Per_Share_Data_Detail

Earnings Per Share Data (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Aug. 02, 2014	Aug. 03, 2013	Aug. 02, 2014	Aug. 03, 2013
Earnings Per Share [Abstract]	'	'	'	'
Net Income	$34,449	$36,491	$146,132	$153,701
Weighted Average Number of Shares Outstanding, Basic and Diluted	43,217,000	46,327,000	43,434,000	46,632,000
Earnings Per Share, Basic and Diluted	$0.80	$0.79	$3.36	$3.30
Total dilutive and potentially dilutive securities outstanding (in shares)	0	0	0	0

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (USD $)	Aug. 02, 2014
In Millions, unless otherwise specified
Commitments and Contingencies Disclosure [Abstract]	'
Outstanding letters of credit under the Company's revolving credit facility	$33

Benefit_Plans_Details

Benefit Plans (Details) (USD $)	3 Months Ended		6 Months Ended
	Aug. 02, 2014	Aug. 03, 2013	Aug. 02, 2014	Aug. 03, 2013
Compensation and Retirement Disclosure [Abstract]	'	'	'	'
Employer contributions to pension plan	$800,000	'	$1,400,000	'
Expected employer contributions to pension plan for remainder of current fiscal year	'	'	1,500,000	'
Components of net periodic benefit costs:	'	'	'	'
Service cost	1,099,000	1,059,000	2,198,000	2,118,000
Interest cost	1,911,000	1,695,000	3,822,000	3,391,000
Net actuarial loss	665,000	753,000	1,330,000	1,506,000
Amortization of prior service cost	0	24,000	0	48,000
Plan curtailment gain	0	0	0	-1,480,000
Net periodic benefit costs	$3,675,000	$3,531,000	$7,350,000	$5,583,000

Revolving_Credit_Agreement_Det

Revolving Credit Agreement (Details) (USD $)	6 Months Ended
	Aug. 02, 2014
Credit agreement	'
Revolving credit facility	$1,000,000,000
Interest rate at end of period (as a percent)	1.66%
Limit on availability for borrowings and letter of credit obligations, expressed as a percentage of inventory of certain subsidiaries	90.00%
Availability for borrowings and letter of credit obligations	962,700,000
Outstanding borrowings under the credit facility	0
Letters of credit issued	33,000,000
Unutilized credit facility borrowing capacity	930,000,000
Annual commitment fee (as a percent)	0.25%
Minimum	'
Credit agreement	'
Minimum line of credit availability for no financial covenant requirements	$100,000,000
JP Morgan's base rate	'
Credit agreement	'
Reference rate	'JPMorganbs Base Rate
LIBOR	'
Credit agreement	'
Reference rate	'LIBOR
Percentage points added to reference rate	1.50%

Stock_Repurchase_Programs_Deta

Stock Repurchase Programs (Details) (USD $)	6 Months Ended		6 Months Ended			6 Months Ended
Share data in Millions, except Per Share data, unless otherwise specified	Aug. 02, 2014	Nov. 30, 2013	Aug. 02, 2014	Aug. 03, 2013	Mar. 31, 2013	Aug. 03, 2013	Feb. 29, 2012
	November 2013 Stock Plan [Member]	November 2013 Stock Plan [Member]	March 2013 Stock Plan	March 2013 Stock Plan	March 2013 Stock Plan	2012 Stock Plan	2012 Stock Plan
Stock Repurchase Programs	'	'	'	'	'	'	'
Stock repurchase authorization	'	$250,000,000	'	'	$250,000,000	'	$250,000,000
Number of shares repurchased	0.3	'	0.5	0.3	'	1.2	'
Amount of shares repurchased	25,500,000	'	40,400,000	22,700,000	'	92,000,000	'
Average price of shares repurchased (in dollars per share)	$89.82	'	$89.04	$79.04	'	$79.14	'
Repurchase of common stock remaining authorization	$224,500,000	'	$0	'	'	'	'

Reclassifications_from_Accumul2

Reclassifications from Accumulated Other Comprehensive Loss ("AOCL") (Details) (USD $)	3 Months Ended				6 Months Ended
In Thousands, unless otherwise specified	Aug. 02, 2014		Aug. 03, 2013		Aug. 02, 2014		Aug. 03, 2013
Reclassifications from accumulated other comprehensive loss	'		'		'		'
Amortization of prior service cost	$0		$24		$0		$48
Amortization of actuarial losses	665		753		1,330		1,506
Income before income taxes and income on and equity in losses of joint ventures	-53,089		-55,758		-225,529		-235,979
Income tax expense	-18,890		-19,675		-79,850		-83,095
Net Income	-34,449		-36,491		-146,132		-153,701
Defined benefit pension plan | Amount Reclassified from AOCL	'		'		'		'
Reclassifications from accumulated other comprehensive loss	'		'		'		'
Amortization of prior service cost	0	[1]	24	[1]	0	[1]	48	[1]
Amortization of actuarial losses	665	[1]	753	[1]	1,330	[1]	1,506	[1]
Plan curtailment gain	0	[2]	0	[2]	0	[2]	7,331	[2]
Income before income taxes and income on and equity in losses of joint ventures	665		777		1,330		8,885
Income tax expense	254		297		509		3,395
Net Income	$411		$480		$821		$5,490
[1]	These items are included in the computation of net periodic pension cost. See Note 7, Benefit Plans, for additional information.
[2]	The excess of the pension liability for the curtailed plan over the amount shown here is included in the computation of net periodic pension cost. See Note 7, Benefit Plans, for additional information.

Changes_in_Accumulated_Other_C2

Changes in Accumulated Other Comprehensive Loss (Details) (USD $)	Aug. 02, 2014	Feb. 01, 2014	Aug. 03, 2013	Aug. 02, 2014	Aug. 03, 2013	Aug. 02, 2014	Aug. 03, 2013
In Thousands, unless otherwise specified				Defined benefit pension plan	Defined benefit pension plan	Defined benefit pension plan	Defined benefit pension plan
Changes in accumulated other comprehensive loss	'	'	'	'	'	'	'
Beginning balance	$23,253	$24,074	$25,785	$23,664	$26,265	$24,074	$31,275
Other comprehensive income before reclassifications	'	'	'	0	0	0	0
Amounts reclassified from AOCL	'	'	'	-411	-480	-821	-5,490
Net other comprehensive income	'	'	'	-411	-480	-821	-5,490
Ending balance	$23,253	$24,074	$25,785	$23,253	$25,785	$23,253	$25,785

Gain_on_Disposal_of_Assets_Det

Gain on Disposal of Assets (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Aug. 02, 2014	Aug. 03, 2013	Aug. 02, 2014	Aug. 03, 2013
Gain on disposal of assets	'	'	'	'
Proceeds from disposal of assets	'	'	$4,728	$18,269
Gain on disposal of assets	50	24	439	12,369
Sale of investment	'	'	'	'
Gain on disposal of assets	'	'	'	'
Proceeds from disposal of assets	'	'	'	15,700
Gain on disposal of assets	'	'	'	11,700
Sale of retail store location	'	'	'	'
Gain on disposal of assets	'	'	'	'
Proceeds from disposal of assets	'	'	'	1,700
Gain on disposal of assets	'	'	'	$600
Number of former retail stores sold	'	'	'	2

Fair_Value_Disclosures_Details

Fair Value Disclosures (Details) (USD $)	6 Months Ended
	Aug. 03, 2013	Aug. 02, 2014	Feb. 01, 2014
Fair value disclosures	'	'	'
Subordinated debentures	$200,000,000	$200,000,000	$200,000,000
Impairment charge on cost method investments	5,400,000	'	'
Nonrecurring	'	'	'
Fair value disclosures	'	'	'
Impairment charge on long-lived assets held for use	1,200,000	'	'
Fair Value of Assets	'	'	'
Fair value disclosures	'	'	'
Long-term debt, including current portion, fair value	'	687,000,000	'
Subordinated debentures	'	208,000,000	'
Fair Value of Assets | Nonrecurring	'	'	'
Fair value disclosures	'	'	'
Long-lived assets held for use	3,000,000	'	'
Significant Other Observable Inputs (Level 2) | Nonrecurring	'	'	'
Fair value disclosures	'	'	'
Long-lived assets held for use	3,000,000	'	'
Carrying value	'	'	'
Fair value disclosures	'	'	'
Long-term debt, including current portion	'	615,000,000	'
Subordinated debentures	'	$200,000,000	'