Dillard's (DDS) 10-Q 5 Jun 20 2020 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	May 02, 2020	May 30, 2020
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	May 2, 2020
Document Transition Report	false
Entity File Number	1-6140
Entity Registrant Name	DILLARD’S, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	71-0388071
Entity Address, Address Line One	1600 CANTRELL ROAD
Entity Address, City or Town	LITTLE ROCK
Entity Address, State or Province	AR
Entity Address, Postal Zip Code	72201
City Area Code	501
Local Phone Number	376-5200
Title of 12(b) Security	Class A Common Stock
Trading Symbol	DDS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Central Index Key	0000028917
Entity Shell Company	false
Amendment Flag	false
Current Fiscal Year End Date	--01-30
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Common Stock Class A
Entity Common Stock, Shares Outstanding		19,219,626
Common Stock Class B
Entity Common Stock, Shares Outstanding		4,010,401

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	May 02, 2020	Feb. 01, 2020	May 04, 2019
Current assets:
Cash and cash equivalents	$ 69,994	$ 277,077	$ 139,802
Restricted cash	0	0	8,683
Accounts receivable	44,964	46,160	47,863
Merchandise inventories	1,570,313	1,465,007	1,832,581
Income Taxes Receivable, Current	39,176	0	0
Other current assets	55,223	59,838	66,015
Total current assets	1,779,670	1,848,082	2,094,944
Operating Lease, Right-of-Use Asset	47,852	47,924	52,782
Deferred Tax Assets, Operating Loss Carryforwards	4,908		0
Property and equipment (net of accumulated depreciation and amortization of $2,385,686, $2,336,728 and $2,259,145 respectively)	1,434,601	1,458,176	1,551,844
Other assets	75,314	76,075	79,418
Total assets	3,342,345	3,430,257	3,778,988
Current liabilities:
Trade accounts payable and accrued expenses	1,055,891	892,789	1,134,258
Current portion of finance lease liabilities	1,109	1,219	1,022
Operating Lease, Liability, Current	14,880	14,654	15,105
Other Short-term Borrowings	0
Accrued Income Taxes, Current	0	22,158	28,961
Total current liabilities	1,071,880	930,820	1,179,346
Long-term debt	365,743	365,709	365,603
Finance lease liabilities	528	695	1,636
Operating Lease, Liability, Noncurrent	33,353	32,683	36,934
Other liabilities	274,435	273,601	240,971
Deferred Tax Liabilities, Other	0	3,490	17,590
Subordinated debentures	200,000	200,000	200,000
Commitments and contingencies
Stockholders’ equity:
Common stock	1,239	1,239	1,239
Additional paid-in capital	951,726	951,726	948,835
Accumulated other comprehensive loss	(30,628)	(31,059)	(12,809)
Retained earnings	4,391,039	4,556,494	4,533,973
Less treasury stock, at cost	(3,916,970)	(3,855,141)	(3,734,330)
Total stockholders’ equity	1,396,406	1,623,259	1,736,908
Total liabilities and stockholders’ equity	3,342,345	3,430,257	3,778,988
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 69,994	$ 277,077	$ 148,485

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	May 02, 2020	Feb. 01, 2020	May 04, 2019
Statement of Financial Position [Abstract]
Property and equipment, accumulated depreciation and amortization	$ 2,385,686	$ 2,236,728	$ 2,259,145

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	May 02, 2020	May 04, 2019
Income Statement [Abstract]
Revenue from Contracts with Customers	$ 786,655	$ 1,465,441
Service charges and other income	34,921	32,494
Total net sales, service charges and other income	821,576	1,497,935
Cost of sales	688,469	927,767
Selling, General and Administrative Expense	290,446	405,160
Depreciation and amortization	50,901	52,364
Rentals	5,550	6,118
Interest Expense	12,270	11,237
Other expense	2,104	1,917
Gain on disposal of assets	(19)	(7,400)
(Loss) income before income taxes	(228,145)	100,772
Income taxes (benefit)	(66,170)	22,170
Net Income	$ (161,975)	$ 78,602
(Loss) earnings per share:
Earnings Per Share, Basic and Diluted	$ (6.94)	$ 2.99

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	May 02, 2020	May 04, 2019
Statement of Comprehensive Income [Abstract]
Net Income	$ (161,975)	$ 78,602
Other comprehensive income:
Amortization of retirement plan and other retiree benefit adjustments (net of tax of $138 and $0, respectively)	431	0
Comprehensive (loss) income	$ (161,544)	$ 78,602

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	May 02, 2020	May 04, 2019
Statement of Comprehensive Income [Abstract]
Amortization of retirement plan and other retiree benefit adjustments, tax	$ 138	$ 0

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Treasury Stock, Common [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Reclassification out of Accumulated Other Comprehensive Income [Member]
Balance at Feb. 02, 2019	$ 1,678,381	$ 1,239	$ (3,716,890)	$ 948,835	$ 4,458,006	$ (12,809)
Increase (Decrease) in Stockholders' Equity
Net Income	78,602				78,602
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	0
Purchase of 998,742 and 246,158 shares during the three months ended May 2, 2020 and May 4, 2019, respectively	(17,440)		(17,440)
Cash dividends declared:
Common Stock, $0.15 per share and $0.10 per share for the three months ended May 2, 2020 and May 4, 2019, respectively,	(2,635)				(2,635)
Balance at May. 04, 2019	1,736,908	1,239	(3,734,330)	948,835	4,533,973	(12,809)
Balance at Feb. 01, 2020	1,623,259	1,239	(3,855,141)	951,726	4,556,494	(31,059)
Increase (Decrease) in Stockholders' Equity
Net Income	(161,975)				(161,975)
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	(431)
Other Comprehensive Income (Loss), Net of Tax	431					431
Purchase of 998,742 and 246,158 shares during the three months ended May 2, 2020 and May 4, 2019, respectively	(61,829)		(61,829)
Cash dividends declared:
Common Stock, $0.15 per share and $0.10 per share for the three months ended May 2, 2020 and May 4, 2019, respectively,	(3,480)				(3,480)
Balance at May. 02, 2020	$ 1,396,406	$ 1,239	$ (3,916,970)	$ 951,726	$ 4,391,039	$ (30,628)

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	May 02, 2020	May 04, 2019
CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY [Abstract]
Treasury Stock, Shares, Acquired	998,742	246,158
Common Stock, Dividends, Per Share, Declared	$ 0.15	$ 0.10
Stock Issued During Period, Shares, Share-based Compensation, Gross	0	0

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	May 02, 2020	May 04, 2019
Operating activities:
Net Income	$ (161,975)	$ 78,602
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Gain on disposal of assets, excluding insurance gain	19	7,400
Depreciation and amortization of property and other deferred costs	51,381	52,533
Changes in operating assets and liabilities:
Decrease in accounts receivable	1,196	1,990
Increase in merchandise inventories	(105,306)	(304,164)
Decrease in other current assets	4,615	2,738
Decrease (increase) in other assets	1,162	(2,149)
Increase in trade accounts payable and accrued expenses and other liabilities	161,463	204,259
(Decrease) increase in income taxes	(63,642)	21,948
Net cash (used in) provided by operating activities	(111,125)	48,357
Investing activities:
Purchases of property and equipment and capitalized software	(20,230)	(18,739)
Proceeds from disposal of assets	111	13,437
Proceeds from Equity Method Investment, Distribution, Return of Capital	215	215
Net cash used in investing activities	(19,904)	(5,087)
Financing activities:
Principal payments on long-term debt and finance lease liabilities	(277)	(222)
Payments of Financing Costs	2,920	0
Cash dividends paid	(3,705)	(2,632)
Purchase of treasury stock	(69,152)	(15,440)
Net cash used in financing activities	(76,054)	(18,294)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect	(207,083)	24,976
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	69,994	148,485
Non-cash transactions:
Accrued capital expenditures	8,314	6,657
Accrued treasury stock purchases	0	2,000
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 3,972	$ 0

Basis of Presentation

Basis of Presentation	3 Months Ended
	May 02, 2020
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 months ended May 2, 2020 are not necessarily indicative of the results that may be expected for the fiscal year ending January 30, 2021 due to, among other factors, 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, 2020 filed with the SEC on March 31, 2020. Restricted Cash - Restricted cash consists of cash proceeds from the sale of property held in escrow for the acquisition of replacement property under like-kind exchange agreements. The escrow accounts are administered by an intermediary. Pursuant to the like-kind exchange agreements, the cash remains restricted for a maximum of 180 days from the date of the property sale pending the acquisition of replacement property. The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statements of cash flows. (in thousands) May 2, May 4, Cash and cash equivalents $ 69,994 $ 139,802 Restricted cash — 8,683 Total cash, cash equivalents and restricted cash $ 69,994 $ 148,485 COVID-19 In March 2020, the World Health Organization declared the outbreak of a novel coronavirus (COVID-19) as a pandemic, which continues to spread throughout the United States and the world. The effects of the COVID-19 pandemic has had and continues to have a significant impact on the Company's business, results of operations and financial position. At present, the COVID-19 pandemic has had a significant negative effect on the Company's liquidity and net sales. Due to heightened uncertainty relating to the impacts of COVID-19 on the Company’s business operations, including the duration and impact on overall customer demand, our liquidity and net sales may be further impacted if we are unable to appropriately manage our inventory levels and expenses. The Company began closing stores on March 19, 2020 as mandated by state and local governments, and by April 9, 2020, all 285 store locations were temporarily closed. At the peak of store closures, approximately 90% of Dillard's 38,000 associates were furloughed. The Company began re-opening stores on May 5, 2020, and by June 2, 2020, all stores had been re-opened. As part of the Company's liquidity strategy during the COVID-19 pandemic, in March 2020, the Company borrowed $779 million under the credit agreement, which was repaid concurrent with the execution of the amended credit agreement. At May 2, 2020, no borrowings were outstanding, and letters of credit totaling $21.0 million were issued under the amended credit agreement leaving unutilized availability under the facility of $779.0 million . See Note 7, Revolving Credit Agreement, for additional information.

Business Segments

Business Segments	3 Months Ended
	May 02, 2020
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 table summarizes the percentage of net sales by segment and major product line: Three Months Ended May 2, 2020 May 4, 2019 Retail operations segment Cosmetics 15 % 14 % Ladies’ apparel 22 24 Ladies’ accessories and lingerie 14 14 Juniors’ and children’s apparel 10 11 Men’s apparel and accessories 16 16 Shoes 15 15 Home and furniture 3 3 95 97 Construction segment 5 3 Total 100 % 100 % The following tables summarize certain segment information, including the reconciliation of those items to the Company’s consolidated operations: (in thousands of dollars) Retail Operations Construction Consolidated Three Months Ended May 2, 2020: Net sales from external customers $ 751,027 $ 35,628 $ 786,655 Gross profit 96,034 2,152 98,186 Depreciation and amortization 50,732 169 50,901 Interest and debt expense (income), net 12,291 (21 ) 12,270 (Loss) income before income taxes (228,667 ) 522 (228,145 ) Total assets 3,299,363 42,982 3,342,345 Three Months Ended May 4, 2019: Net sales from external customers $ 1,420,522 $ 44,919 $ 1,465,441 Gross profit 536,371 1,303 537,674 Depreciation and amortization 52,194 170 52,364 Interest and debt expense (income), net 11,264 (27 ) 11,237 Income before income taxes 100,728 44 100,772 Total assets 3,731,040 47,948 3,778,988 Intersegment construction revenues of $11.4 million and $8.4 million for the three months ended May 2, 2020 and May 4, 2019, respectively, were eliminated during consolidation and have been excluded from net sales for the respective periods. The retail operations segment gives rise to contract liabilities through the loyalty program and through the issuances of gift cards. The loyalty program liability and a portion of the gift card liability is included in trade accounts payable and accrued expenses, and a portion of the gift card liability is included in other liabilities on the condensed consolidated balance sheets. Our retail operations segment contract liabilities are as follows: Retail (in thousands of dollars) May 2, February 1, May 4, February 2, Contract liabilities $ 67,107 $ 75,229 $ 64,934 $ 72,852 During the three months ended May 2, 2020 and May 4, 2019, the Company recorded $18.9 million and $24.8 million , respectively, in revenue that was previously included in the retail operations contract liability balances of $75.2 million and $72.9 million , at February 1, 2020 and February 2, 2019, respectively. Construction contracts give rise to accounts receivable, contract assets and contract liabilities. We record accounts receivable based on amounts expected to be collected from customers. We also record costs and estimated earnings in excess of billings on uncompleted contracts (contract assets) and billings in excess of costs and estimated earnings on uncompleted contracts (contract liabilities) in other current assets and trade accounts payable and accrued expenses in the condensed consolidated balance sheets, respectively. The amounts included in the condensed consolidated balance sheets are as follows: Construction (in thousands of dollars) May 2, February 1, May 4, February 2, Accounts receivable $ 33,736 $ 28,522 $ 32,320 $ 31,867 Costs and estimated earnings in excess of billings on uncompleted contracts 894 2,179 829 1,165 Billings in excess of costs and estimated earnings on uncompleted contracts 9,603 5,737 6,768 7,414 During the three months ended May 2, 2020 and May 4, 2019, the Company recorded $4.2 million and $6.6 million , respectively, in revenue that was previously included in billings in excess of costs and estimated earnings on uncompleted contracts of $5.7 million and $7.4 million at February 1, 2020 and February 2, 2019, respectively. The remaining performance obligations related to executed construction contracts totaled $145.4 million , $156.5 million and $123.4 million at May 2, 2020, February 1, 2020 and May 4, 2019, respectively.

Earnings Per Share Data

Earnings Per Share Data	3 Months Ended
	May 02, 2020
Earnings Per Share [Abstract]
Earnings Per Share Data	Earnings Per Share Data The following table sets forth the computation of basic and diluted (loss) earnings per share for the periods indicated (in thousands, except per share data). Three Months Ended May 2, May 4, Net (loss) income $ (161,975 ) $ 78,602 Weighted average shares of common stock outstanding 23,354 26,315 Basic and diluted (loss) earnings per share $ (6.94 ) $ 2.99 The Company maintains a capital structure in which common stock is the only equity 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 months ended May 2, 2020 and May 4, 2019

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	May 02, 2020
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, individually or in the aggregate, is not expected to have a material adverse effect on the Company’s financial position, cash flows or results of operations. At May 2, 2020 , letters of credit totaling $21.0 million were issued under the Company’s revolving credit facility. See Note 7, Revolving Credit Agreement , for additional information.

Benefit Plans

Benefit Plans	3 Months Ended
	May 02, 2020
Retirement Benefits [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. The Company determines pension expense using an actuarial cost method 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 contributed $1.4 million to the Pension Plan during the three months ended May 2, 2020 and expects to make additional contributions to the Pension Plan of approximately $4.1 million during the remainder of fiscal 2020 . The components of net periodic benefit costs are as follows (in thousands): Three Months Ended May 2, May 4, Components of net periodic benefit costs: Service cost $ 1,090 $ 905 Interest cost 1,536 1,917 Net actuarial loss 569 — Net periodic benefit costs $ 3,195 $ 2,822

Revolving Credit Agreement

Revolving Credit Agreement	3 Months Ended
	May 02, 2020
Line of Credit Facility [Abstract]
Revolving Credit Agreement	Revolving Credit Agreement In April 2020, the Company amended its credit agreement (the "amended credit agreement"). After giving effect to the amendment, the amended credit agreement became secured by certain deposit accounts of the Company and certain inventory of certain subsidiaries. The amended credit agreement provides a borrowing capacity of $800 million with a $200 million expansion option and matures on August 9, 2022. The amended credit agreement is available to the Company for general corporate purposes including, among other uses, working capital financing, the issuance of letters of credit, capital expenditures and, subject to certain restrictions, the repayment of existing indebtedness and share repurchases. The Company pays a variable rate of interest on borrowings under the amended credit agreement and a commitment fee to the participating banks. The rate of interest on borrowings is LIBOR plus 1.750% , and the commitment fee for unused borrowings is 0.30% per annum. As long as availability exceeds $100 million and no event of default occurs and is continuing, there are no financial covenant requirements under the amended credit agreement. Concurrent with the signing of the amended credit facility, the Company repaid the $779 million borrowed on March 25, 2020 under the previous agreement. Additionally, the Company paid $2.9 million in issuance costs related to the amended credit agreement, which were recorded in other assets on the condensed consolidated balance sheets. At May 2, 2020 , no borrowings were outstanding, and letters of credit totaling $21.0 million were issued under the amended credit agreement leaving unutilized availability under the facility of $779.0 million

Stock Repurchase Programs

Stock Repurchase Programs	3 Months Ended
	May 02, 2020
Schedule of Share Repurchase Program Activity [Abstract]
Stock Repurchase Programs	Stock Repurchase Program In March 2018, the Company's Board of Directors authorized the Company to repurchase up to $500 million of the Company’s Class A Common Stock pursuant to an open-ended stock repurchase plan (the "March 2018 Plan"). The March 2018 Plan 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 or through privately negotiated transactions. The March 2018 plan has no expiration date. The following is a summary of share repurchase activity for the periods indicated (in thousands, except per share data): Three Months Ended May 2, May 4, Cost of shares repurchased $ 61,829 $ 17,440 Number of shares repurchased 999 246 Average price per share $ 61.91 $ 70.85 All repurchases of the Company’s Class A Common Stock above were made at the market price at the trade date. Accordingly, all amounts paid to reacquire these shares were allocated to treasury stock. As of May 2, 2020 , $206.9 million of authorization remained under the March 2018 Plan.

Income Taxes

Income Taxes	3 Months Ended
	May 02, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company expects to be in a net operating loss position for the fiscal year. The Coronavirus Aid, Relief and Economic Security (“CARES”) Act, signed into law on March 27, 2020, allows for net operating loss carryback to years in which the statutory federal tax rate was 35% . During the three months ended May 2, 2020, income tax benefit differed from what would be computed using the current statutory federal tax rate of 21% primarily due to the recognition of a net tax benefit of $14.8 million related to the carryback provision of the CARES Act. This net tax benefit was comprised of tax expense of $25.2 million for the remeasurement of beginning deferred tax assets and liabilities and tax benefit of $40.0 million for the impact of the net operating loss carryback. Income tax benefit for the quarter also included the effects of federal tax credits and state and local income taxes. During the three months ended May 4, 2019, income tax expense differed from what would be computed using the statutory federal tax rate primarily due to the effects of federal tax credits and state and local income taxes.

Leases

Leases	3 Months Ended
	May 02, 2020
Leases [Abstract]
Lessee, Operating Leases [Text Block]	Leases The Company leases retail stores, office space and equipment under operating leases. As of May 2, 2020 and May 4, 2019 right-of-use operating lease assets, which are recorded in operating lease assets in the condensed consolidated balance sheets, totaled $47.9 million and $52.8 million , respectively, and operating lease liabilities, which are recorded in current portion of operating lease liabilities and operating lease liabilities, totaled $48.2 million and $52.0 million , respectively. In determining our operating lease assets and operating lease liabilities, we apply an incremental borrowing rate to the minimum lease payments within each lease agreement. ASU No. 2016-02 requires the use of the rate implicit in the lease whenever that rate is readily determinable; furthermore, if the implicit rate is not readily determinable, a lessee may use its incremental borrowing rate. The incremental borrowing rate is the rate of interest that a lessee would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. To estimate our specific incremental borrowing rates that align with applicable lease terms, we utilize a model consistent with the credit quality of our outstanding debt instruments. Renewal options from two to 20 years exist on the majority of leased properties. The Company has sole discretion in exercising the lease renewal options. We do not recognize operating lease assets or operating lease liabilities for renewal periods unless it has been determined that we are reasonably certain of renewing the lease at inception. The depreciable life of operating lease assets and related leasehold improvements is limited by the expected lease term. Contingent rentals on certain leases are based on a percentage of annual sales in excess of specified amounts. Other contingent rentals are based entirely on a percentage of sales. The Company's operating lease agreements do not contain any material residual value guarantees or material restrictive covenants. The following table summarizes the Company's operating and finance leases: (in thousands of dollars) Classification - Condensed Consolidated Balance Sheets May 2, 2020 February 1, 2020 May 4, 2019 Assets Finance lease assets Property and equipment, net (a) $ 564 $ 670 $ 987 Operating lease assets Operating lease assets 47,852 47,924 52,782 Total leased assets $ 48,416 $ 48,594 $ 53,769 Liabilities Current Finance Current portion of finance lease liabilities $ 1,109 $ 1,219 $ 1,022 Operating Current portion of operating lease liabilities 14,880 14,654 15,105 Noncurrent Finance Finance lease liabilities 528 695 1,636 Operating Operating lease liabilities 33,353 32,683 36,934 Total lease liabilities $ 49,870 $ 49,251 $ 54,697 (a) Finance lease assets are recorded net of accumulated amortization of $14.0 million , $13.9 million and $13.6 million as of May 2, 2020, February 1, 2020 and May 4, 2019, respectively. Lease Cost Three Months Ended (in thousands of dollars) Classification - Condensed Consolidated Statements of Operations May 2, 2020 May 4, 2019 Operating lease cost (a) Rentals $ 5,550 $ 6,118 Finance lease cost Amortization of leased assets Depreciation and amortization 106 106 Interest on lease liabilities Interest and debt expense, net 79 135 Net lease cost $ 5,735 $ 6,359 (a) Includes short term lease costs of $0.5 million and $0.7 million for the three months ended May 2, 2020 and May 4, 2019, respectively, and variable lease costs of $0.3 million and $0.4 million for the three months ended May 2, 2020 and May 4, 2019, respectively. Maturities of Lease Liabilities (in thousands of dollars) Fiscal Year Operating Leases Finance Leases Total 2020 (excluding the three months ended May 2, 2020) $ 13,275 $ 1,071 $ 14,346 2021 14,048 726 14,774 2022 7,696 — 7,696 2023 4,406 — 4,406 2024 3,649 — 3,649 After 2024 15,916 — 15,916 Total minimum lease payments 58,990 1,797 60,787 Less amount representing interest (10,757 ) (160 ) (10,917 ) Present value of lease liabilities $ 48,233 $ 1,637 $ 49,870 Lease Term and Discount Rate May 2, 2020 Weighted-average remaining lease term Operating leases 6.2 years Finance leases 1.5 years Weighted-average discount rate Operating leases 6.6 % Finance leases 14 % Other Information Three Months Ended (in thousands of dollars) May 2, 2020 May 4, 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 4,720 $ 5,046 Operating cash flows from finance leases 79 135 Financing cash flows from finance leases 277 222 Lease assets obtained in exchange for new operating lease liabilities $ 3,972 $ —

Reclassifications from Accumula

Reclassifications from Accumulated Other Comprehensive Loss ("AOCL")	3 Months Ended
	May 02, 2020
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 Affected Line Item in the Statement Where Net Income Is Presented Details about AOCL Components May 2, 2020 May 4, 2019 Defined benefit pension plan items Amortization of actuarial losses $ 569 $ — Total before tax (1) 138 — Income tax expense $ 431 $ — Total net of tax For fiscal year 2019, there was no amortization of the net loss in AOCL as the net loss did not exceed 10% of the projected benefit obligation. _______________________________ (1) This item is included in the computation of net periodic pension cost. See Note 6, Benefit Plans

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Loss	3 Months Ended
	May 02, 2020
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 May 2, 2020 May 4, 2019 Beginning balance $ 31,059 $ 12,809 Amounts reclassified from AOCL (431 ) — Ending balance $ 30,628 $ 12,809

Fair Value Disclosures

Fair Value Disclosures	3 Months Ended
	May 02, 2020
Fair Value Disclosures [Abstract]
Fair Value Disclosures	Fair Value Disclosures The estimated fair values of financial instruments 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 and is categorized as Level 1 in the fair value hierarchy. The fair value of the Company’s cash, cash equivalents and accounts receivable approximates their carrying values at May 2, 2020 due to the short-term maturities of these instruments. The fair value of the Company’s long-term debt at May 2, 2020 was approximately $309 million . The carrying value of the Company’s long-term debt at May 2, 2020 was $365.7 million . The fair value of the Company’s subordinated debentures at May 2, 2020 was approximately $131 million . The carrying value of the Company’s subordinated debentures at May 2, 2020 was $200.0 million .

Recently Issued Accounting Stan

Recently Issued Accounting Standards New Accounting Pronouncements (Tables)	3 Months Ended
	May 02, 2020
Accounting Changes and Error Corrections [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]	Accounting Standards Recently Issued Accounting Pronouncements Simplifying the Accounting for Income Taxes In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, as part of its initiative to reduce complexity in accounting standards. The amendments in this update simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. The amendments within ASU No. 2019-12 are effective for financial statements issued for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, and early adoption is permitted. The Company is currently assessing the impact of this update on its consolidated financial statements.

Business Segments (Tables)

Business Segments (Tables)	3 Months Ended
	May 02, 2020
Segment Reporting [Abstract]
Schedule of Contract Liabilities - Retail [Table Text Block]	Retail (in thousands of dollars) May 2, February 1, May 4, February 2, Contract liabilities $ 67,107 $ 75,229 $ 64,934 $ 72,852
Schedule of AR, Contract Assets and Liabilities - Construction [Table Text Block]	Construction (in thousands of dollars) May 2, February 1, May 4, February 2, Accounts receivable $ 33,736 $ 28,522 $ 32,320 $ 31,867 Costs and estimated earnings in excess of billings on uncompleted contracts 894 2,179 829 1,165 Billings in excess of costs and estimated earnings on uncompleted contracts 9,603 5,737 6,768 7,414
Schedule of Entity Wide Information Percentage of Revenue from External Customers by Product and Segment [Table Text Block]	Three Months Ended May 2, 2020 May 4, 2019 Retail operations segment Cosmetics 15 % 14 % Ladies’ apparel 22 24 Ladies’ accessories and lingerie 14 14 Juniors’ and children’s apparel 10 11 Men’s apparel and accessories 16 16 Shoes 15 15 Home and furniture 3 3 95 97 Construction segment 5 3 Total 100 % 100 %
Schedule of Segment Reporting Information, by Segment [Table Text Block]	The following tables summarize certain segment information, including the reconciliation of those items to the Company’s consolidated operations: (in thousands of dollars) Retail Operations Construction Consolidated Three Months Ended May 2, 2020: Net sales from external customers $ 751,027 $ 35,628 $ 786,655 Gross profit 96,034 2,152 98,186 Depreciation and amortization 50,732 169 50,901 Interest and debt expense (income), net 12,291 (21 ) 12,270 (Loss) income before income taxes (228,667 ) 522 (228,145 ) Total assets 3,299,363 42,982 3,342,345 Three Months Ended May 4, 2019: Net sales from external customers $ 1,420,522 $ 44,919 $ 1,465,441 Gross profit 536,371 1,303 537,674 Depreciation and amortization 52,194 170 52,364 Interest and debt expense (income), net 11,264 (27 ) 11,237 Income before income taxes 100,728 44 100,772 Total assets 3,731,040 47,948 3,778,988

Earnings Per Share Data (Tables

Earnings Per Share Data (Tables)	3 Months Ended
	May 02, 2020
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 (loss) earnings per share for the periods indicated (in thousands, except per share data). Three Months Ended May 2, May 4, Net (loss) income $ (161,975 ) $ 78,602 Weighted average shares of common stock outstanding 23,354 26,315 Basic and diluted (loss) earnings per share $ (6.94 ) $ 2.99

Benefit Plans (Tables)

Benefit Plans (Tables)	3 Months Ended
	May 02, 2020
Retirement Benefits [Abstract]
Schedule of components of net periodic benefit costs	The components of net periodic benefit costs are as follows (in thousands): Three Months Ended May 2, May 4, Components of net periodic benefit costs: Service cost $ 1,090 $ 905 Interest cost 1,536 1,917 Net actuarial loss 569 — Net periodic benefit costs $ 3,195 $ 2,822

Stock Repurchase Programs Sched

Stock Repurchase Programs Schedule of Repurchase Program Activity (Tables)	3 Months Ended
	May 02, 2020
Schedule of Share Repurchase Program Activity [Abstract]
Schedule of Repurchase Agreements [Table Text Block]	The following is a summary of share repurchase activity for the periods indicated (in thousands, except per share data): Three Months Ended May 2, May 4, Cost of shares repurchased $ 61,829 $ 17,440 Number of shares repurchased 999 246 Average price per share $ 61.91 $ 70.85

Leases (Tables)

Leases (Tables)	3 Months Ended
	May 02, 2020
Leases [Abstract]
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	(in thousands of dollars) Fiscal Year Operating Leases Finance Leases Total 2020 (excluding the three months ended May 2, 2020) $ 13,275 $ 1,071 $ 14,346 2021 14,048 726 14,774 2022 7,696 — 7,696 2023 4,406 — 4,406 2024 3,649 — 3,649 After 2024 15,916 — 15,916 Total minimum lease payments 58,990 1,797 60,787 Less amount representing interest (10,757 ) (160 ) (10,917 ) Present value of lease liabilities $ 48,233 $ 1,637 $ 49,870
Lease Term and Discount Rate [Table Text Block]	May 2, 2020 Weighted-average remaining lease term Operating leases 6.2 years Finance leases 1.5 years Weighted-average discount rate Operating leases 6.6 % Finance leases 14 %
Cash Flow, Operating Activities, Lessee [Abstract]	Three Months Ended (in thousands of dollars) May 2, 2020 May 4, 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 4,720 $ 5,046 Operating cash flows from finance leases 79 135 Financing cash flows from finance leases 277 222 Lease assets obtained in exchange for new operating lease liabilities $ 3,972 $ —
Lease, Cost [Table Text Block]	Lease Cost Three Months Ended (in thousands of dollars) Classification - Condensed Consolidated Statements of Operations May 2, 2020 May 4, 2019 Operating lease cost (a) Rentals $ 5,550 $ 6,118 Finance lease cost Amortization of leased assets Depreciation and amortization 106 106 Interest on lease liabilities Interest and debt expense, net 79 135 Net lease cost $ 5,735 $ 6,359
Operating and Finance Lease Assets and Liabilities [Table Text Block]	(in thousands of dollars) Classification - Condensed Consolidated Balance Sheets May 2, 2020 February 1, 2020 May 4, 2019 Assets Finance lease assets Property and equipment, net (a) $ 564 $ 670 $ 987 Operating lease assets Operating lease assets 47,852 47,924 52,782 Total leased assets $ 48,416 $ 48,594 $ 53,769 Liabilities Current Finance Current portion of finance lease liabilities $ 1,109 $ 1,219 $ 1,022 Operating Current portion of operating lease liabilities 14,880 14,654 15,105 Noncurrent Finance Finance lease liabilities 528 695 1,636 Operating Operating lease liabilities 33,353 32,683 36,934 Total lease liabilities $ 49,870 $ 49,251 $ 54,697

Reclassifications from Accumu_2

Reclassifications from Accumulated Other Comprehensive Loss ("AOCL") (Tables)	3 Months Ended
	May 02, 2020
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 Affected Line Item in the Statement Where Net Income Is Presented Details about AOCL Components May 2, 2020 May 4, 2019 Defined benefit pension plan items Amortization of actuarial losses $ 569 $ — Total before tax (1) 138 — Income tax expense $ 431 $ — Total net of tax For fiscal year 2019, there was no amortization of the net loss in AOCL as the net loss did not exceed 10% of the projected benefit obligation. _______________________________ (1) This item is included in the computation of net periodic pension cost. See Note 6, Benefit Plans

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	May 02, 2020
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 May 2, 2020 May 4, 2019 Beginning balance $ 31,059 $ 12,809 Amounts reclassified from AOCL (431 ) — Ending balance $ 30,628 $ 12,809

Basis of Presentation Cash, Cas

Basis of Presentation Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	May 02, 2020	Feb. 01, 2020	May 04, 2019	Feb. 02, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 69,994	$ 277,077	$ 139,802
Restricted cash	0	0	8,683
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 69,994	$ 277,077	$ 148,485	$ 123,509

Basis of Presentation Non-Finan

Basis of Presentation Non-Financial Data (Details)	May 02, 2020
Number of Employees [Line Items]
Percent of Employees	90.00%
Entity Number of Employees	38,000

Basis of Presentation Store Dat

Basis of Presentation Store Data (Details)	May 02, 2020
Risks and Uncertainties [Abstract]
Number of Stores	285

Business Segments (Details)

Business Segments (Details) $ in Thousands	3 Months Ended
	May 02, 2020USD ($)segment	May 04, 2019USD ($)	Feb. 01, 2020USD ($)	Feb. 02, 2019USD ($)
Segment Reporting [Abstract]
Costs and estimated earnings in excess of billings on uncompleted contracts, construction segment	$ 894	$ 829	$ 2,179	$ 1,165
Billings in excess of costs and estimated earnings on uncompleted contracts, construction segment	9,603	6,768	5,737	7,414
Accounts Receivable, Construction Segment	33,736	32,320	28,522	31,867
Revenue, Remaining Performance Obligation, Amount	145,400	123,400	156,500
Revenue Recognized, previously recorded in Billings in excess of costs and estimated earnings	4,200	6,600
Contract with Customer, Liability	67,107	64,934	75,229	$ 72,852
Contract with Customer, Liability, Revenue Recognized	18,900	24,800
Business Segments
Revenue from Contracts with Customers	$ 786,655	$ 1,465,441
Concentration Risk, Percentage	100.00%	100.00%
Number of Reportable Segments | segment	2
Gross profit		$ 537,674
Depreciation and amortization	$ 50,901	52,364
Interest and debt expense (income), net	12,270	11,237
Income before income taxes	(228,145)	100,772
Total assets	3,342,345	3,778,988	$ 3,430,257
Retail operations
Business Segments
Revenue from Contracts with Customers	$ 751,027	$ 1,420,522
Concentration Risk, Percentage	95.00%	97.00%
Number of Reportable Segments | segment	1
Number of store formats | segment	1
Gross profit	$ 96,034	$ 536,371
Depreciation and amortization	50,732	52,194
Interest and debt expense (income), net	12,291	11,264
Income before income taxes	(228,667)	100,728
Total assets	3,299,363	3,731,040
Construction
Business Segments
Revenue from Contracts with Customers	$ 35,628	$ 44,919
Concentration Risk, Percentage	5.00%	3.00%
Gross profit	$ 2,152	$ 1,303
Depreciation and amortization	169	170
Interest and debt expense (income), net	(21)	(27)
Income before income taxes	522	44
Total assets	42,982	47,948
Intersegment Eliminations [Member]
Business Segments
Revenue from Contracts with Customers	$ 11,400	$ 8,400
Cosmetics [Member] | Retail operations
Business Segments
Concentration Risk, Percentage	15.00%	14.00%
Ladies Apparel [Member] | Retail operations
Business Segments
Concentration Risk, Percentage	22.00%	24.00%
Ladies Accessories and Lingerie [Member] | Retail operations
Business Segments
Concentration Risk, Percentage	14.00%	14.00%
Juniors and Children's Apparel [Member] | Retail operations
Business Segments
Concentration Risk, Percentage	10.00%	11.00%
Mens Apparel and Accessories [Member] | Retail operations
Business Segments
Concentration Risk, Percentage	16.00%	16.00%
Shoes [Member] | Retail operations
Business Segments
Concentration Risk, Percentage	15.00%	15.00%
Home and Furniture [Member] | Retail operations
Business Segments
Concentration Risk, Percentage	3.00%	3.00%

Earnings Per Share Data (Detail

Earnings Per Share Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	May 02, 2020	May 04, 2019
Earnings Per Share [Abstract]
Net Income	$ (161,975)	$ 78,602
Weighted Average Number of Shares Outstanding, Basic and Diluted	23,354,000	26,315,000
Earnings Per Share, Basic and Diluted	$ (6.94)	$ 2.99
Total dilutive and potentially dilutive securities outstanding (in shares)	0

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	May 02, 2020USD ($)
Commitments and Contingencies Disclosure [Abstract]
Outstanding letters of credit under the Company's revolving credit facility	$ 21

Benefit Plans (Details)

Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended
	May 02, 2020	May 04, 2019
Defined Benefit Plan Disclosure [Line Items]
Employer contributions to pension plan	$ 1,400
Components of net periodic benefit costs:
Service cost	1,090	$ 905
Interest cost	1,536	1,917
Net actuarial loss	569	0
Net periodic benefit costs	3,195	2,822
Defined Benefit Plan, Expected Future Benefit Payment, Remainder of Year	4,100
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Components of net periodic benefit costs:
Net actuarial loss	$ 569	$ 0

Revolving Credit Agreement (Det

Revolving Credit Agreement (Details) - USD ($)	3 Months Ended
	May 02, 2020	May 04, 2019
Credit agreement
Payments of Financing Costs	$ 2,920,000	$ 0
Line of Credit Facility, Maximum Borrowing Capacity	$ 800,000,000
Reference rate	LIBOR
Percentage points added to reference rate	1.75%
Letters of credit issued	$ 21,000,000
Unutilized credit facility borrowing capacity	$ 779,000,000
Annual commitment fee (as a percent)	0.30%
Line of Credit Borrowed and Repaid during period	$ 779,000,000

Stock Repurchase Programs (Deta

Stock Repurchase Programs (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	May 02, 2020	May 04, 2019
Schedule of Share Repurchase Program Activity [Abstract]
Stock Repurchase Program, Authorized Amount	$ 500,000
Treasury Stock, Shares, Acquired	998,742	246,158
Amount of shares repurchased	$ 61,829	$ 17,440
Average price of shares repurchased (in dollars per share)	$ 61,910	$ 70.85
Repurchase of common stock remaining authorization	$ 206,900

Income Taxes Income Taxes (Deta

Income Taxes Income Taxes (Details) (Details) - USD ($) $ in Millions	3 Months Ended	11 Months Ended
	May 02, 2020	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	35.00%
Tax benefit related to carryback provision of the CARES Act	$ 14.8
Remeasurement of beginning deferred tax assets and liabilities	25.2
Impact of the net operating loss carryback	$ 40

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	May 02, 2020	May 04, 2019	Feb. 01, 2020
Leases [Abstract]
Operating Lease, Right-of-Use Asset	$ 47,852	$ 52,782	$ 47,924
Finance Lease, Right-of-Use Asset	564	987	670
Right-of-Use Assets, Total	48,416	53,769	48,594
Operating Lease, Liability, Current	14,880	15,105	14,654
Operating Lease, Liability, Noncurrent	33,353	36,934	32,683
Operating Lease, Liability	48,233	52,000
Finance Lease, Liability, Current	1,109	1,022	1,219
Finance Lease, Liability, Noncurrent	528	1,636	695
Finance Lease, Liability	1,637
Lease Liabilities, Total	$ 49,870	54,697	49,251
Operating Lease, Weighted Average Remaining Lease Term	6 years 2 months 12 days
Finance Lease, Weighted Average Remaining Lease Term	1 year 6 months
Operating Lease, Weighted Average Discount Rate, Percent	6.60%
Finance Lease, Weighted Average Discount Rate, Percent	14.00%
accumulated amortization finance leases	$ 14,000	13,600	$ 13,900
Income and Expenses, Lessee [Abstract]
Operating Lease, Expense	5,550	6,118
Finance Lease, Interest Expense	79	135
Finance Lease, Right-of-Use Asset, Amortization	106	106
Net Lease Cost	5,735	6,359
Short-term Lease, Cost	500	700
Variable Lease, Cost	300	400
Cash Flow, Operating Activities, Lessee [Abstract]
Operating Lease, Payments	4,720	5,046
Finance Lease, Interest Payment on Liability	79	135
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	3,972	0
Cash Flow, Financing Activities, Lessee [Abstract]
Finance Lease, Principal Payments	277	$ 222
Total lease liability payments [Abstract]
2020, Remainder Fiscal Year	14,346
2021	14,774
2022	7,696
2023	4,406
2024	3,649
After 2024	15,916
Lease Liability, Payments Due	60,787
Lease Liability, Undiscounted Excess Amount	(10,917)
Finance Lease Liabilities, Payments, Due [Abstract]
2020, Remainder of Fiscal Year	1,071
2021	726
2022	0
2023	0
2024	0
After 2024	0
Finance Lease, Liability, Payments, Due	1,797
Finance Lease, Liability, Undiscounted Excess Amount	(160)
Operating Lease Liabilities, Payments Due [Abstract]
2020, Remainder of Fiscal Year	13,275
2021	14,048
2022	7,696
2023	4,406
2024	3,649
After 2024	15,916
Lessee, Operating Lease, Liability, Payments, Due	58,990
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	$ (10,757)

Reclassifications from Accumu_3

Reclassifications from Accumulated Other Comprehensive Loss ("AOCL") (Details) - USD ($) $ in Thousands	3 Months Ended
	May 02, 2020	May 04, 2019	Feb. 01, 2020
Reclassifications from accumulated other comprehensive loss
Amortization of actuarial losses	$ 569	$ 0
Income before income taxes and income on and equity in losses of joint ventures	228,145	(100,772)
Income tax expense	66,170	(22,170)
Net Income	161,975	(78,602)
Net Actuarial Loss less than 10 percent of PBO			10.00%
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassifications from accumulated other comprehensive loss
Amortization of actuarial losses	569	0
Income tax expense	138	0
Net Income	$ 431	$ 0

Changes in Accumulated Other _3

Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	May 02, 2020	May 04, 2019
Changes in accumulated other comprehensive loss
Beginning balance	$ 31,059
Net other comprehensive income	(431)
Ending balance	30,628	$ 12,809
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Changes in accumulated other comprehensive loss
Beginning balance	31,059	12,809
Amounts reclassified from AOCL	(431)	0
Ending balance	$ 30,628	$ 12,809

Gain on Disposal of Assets (Det

Gain on Disposal of Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	May 02, 2020	May 04, 2019
Gain on disposal of assets
Proceeds from disposal of assets	$ 111	$ 13,437
Gain on disposal of assets	$ (19)	$ (7,400)

Fair Value Disclosures (Details

Fair Value Disclosures (Details) - USD ($) $ in Thousands	May 02, 2020	Feb. 01, 2020	May 04, 2019
Fair value disclosures
Subordinated debentures	$ 200,000	$ 200,000	$ 200,000
Fair Value of Assets
Fair value disclosures
Long-term debt, including current portion, fair value	309,000
Subordinated debentures	131,000
Carrying value
Fair value disclosures
Long-term debt, including current portion	365,700
Subordinated debentures	$ 200,000