Alco Stores (ALCSQ) Inactive 10-Q18 Dec 132014 Q3 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
Document and Entity Information	Nov. 03, 2013	Dec. 17, 2013
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'ALCO STORES INC	'
Entity Central Index Key	'0000030302	'
Current Fiscal Year End Date	'--02-03	'
Entity Well-known Seasoned Issuer	'No	'
Entity Voluntary Filers	'No	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	3,258,163
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	3-Nov-13	'

Balance_Sheets

Balance Sheets (USD $)	Nov. 03, 2013	Feb. 03, 2013
In Thousands, unless otherwise specified	Nov. 03, 2013	Feb. 03, 2013
Current assets:	'	'
Cash	$2,972	$3,160
Receivables	12,125	13,187
Inventories	194,101	166,671
Prepaid expenses	4,005	3,767
Deferred income taxes	0	3,081
Property held for sale	568	568
Total current assets	213,771	190,434
Property and equipment, at cost:	'	'
Land and land improvements	5,648	5,648
Buildings and building improvements	10,499	10,499
Furniture, fixtures and equipment	78,118	74,066
Transportation equipment	988	988
Leasehold improvements	21,138	21,138
Construction work in progress	9,360	5,083
Total property and equipment	125,751	117,422
Less accumulated depreciation and amortization	87,537	81,794
Net property and equipment	38,214	35,628
Property under capital leases	26,972	26,972
Less accumulated amortization	12,220	11,476
Net property under capital leases	14,752	15,496
Deferred income taxes - non current	0	1,693
Other non-current assets	2,288	624
Total assets	269,025	243,875
Current liabilities:	'	'
Current maturities of capital lease obligations	537	580
Accounts payable	66,800	39,220
Accrued salaries and commissions	2,907	3,111
Accrued taxes other than income taxes	6,182	5,046
Self-insurance claim reserves	4,118	4,429
Other current liabilities	5,158	4,429
Total current liabilities	85,702	56,815
Notes payable under revolving loan	77,995	63,446
Capital lease obligations - less current maturities	15,497	15,936
Deferred gain on leases	2,763	3,053
Other noncurrent liabilities	2,376	2,462
Total liabilities	184,333	141,712
Stockholders' equity:	'	'
Common stock, $.0001 par value, authorized 20,000,000 shares; 3,258,163 shares issued and outstanding, respectively	1	1
Additional paid-in capital	36,868	36,533
Retained earnings	47,823	65,629
Total stockholders' equity	84,692	102,163
Total liabilities and stockholders' equity	$269,025	$243,875

Balance_Sheets_Parenthetical

Balance Sheets (Parenthetical) (USD $)	Nov. 03, 2013	Feb. 03, 2013
Stockholders' equity:	'	'
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, authorized (in shares)	20,000,000	20,000,000
Common stock, issued (in shares)	3,258,163	3,258,163
Common stock, outstanding (in shares)	3,258,163	3,258,163

Statements_of_Operations

Statements of Operations (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Nov. 03, 2013	Oct. 28, 2012	Nov. 03, 2013	Oct. 28, 2012
Statements of Operations [Abstract]	'	'	'	'
Net sales	$106,661	$105,918	$343,172	$338,188
Cost of sales	78,740	72,974	242,826	232,844
Gross margin	27,921	32,944	100,346	105,344
Selling, general and administrative	35,032	31,831	102,684	96,775
Depreciation and amortization expenses	2,112	2,177	6,439	6,356
Total operating expenses	37,144	34,008	109,123	103,131
Operating earnings (loss)	-9,223	-1,064	-8,777	2,213
Interest expense	852	859	2,862	2,395
Loss from continuing operations before income taxes	-10,075	-1,923	-11,639	-182
Income tax expense (benefit)	5,981	-779	5,395	-89
Loss from continuing operations	-16,056	-1,144	-17,034	-93
Loss from discontinued operations, net of income tax benefit of $354, $140, $471, and $354 respectively	-579	-229	-772	-580
Net loss	($16,635)	($1,373)	($17,806)	($673)
Basic	'	'	'	'
Continuing operations (in dollars per share)	($4.93)	($0.31)	($5.23)	($0.02)
Discontinued operations (in dollars per share)	($0.18)	($0.06)	($0.24)	($0.15)
Net loss per share (in dollars per share)	($5.11)	($0.37)	($5.47)	($0.17)
Diluted	'	'	'	'
Continuing operations (in dollars per share)	($4.93)	($0.31)	($5.23)	($0.02)
Discontinued operations (in dollars per share)	($0.18)	($0.06)	($0.24)	($0.15)
Net loss per share (in dollars per share)	($5.11)	($0.37)	($5.47)	($0.17)

Statements_of_Operations_Paren

Statements of Operations (Parenthetical) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Nov. 03, 2013	Oct. 28, 2012	Nov. 03, 2013	Oct. 28, 2012
Statements of Operations [Abstract]	'	'	'	'
Income tax benefit allocated to discontinued operations	$354	$140	$471	$354

Statements_of_Cash_Flows

Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Nov. 03, 2013	Oct. 28, 2012
Cash flows from operating activities:	'	'
Net loss	($17,806)	($673)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:	'	'
Depreciation and amortization	6,537	6,479
Loss on sale of assets	0	4
Share-based compensation expense	335	327
Deferred income tax expense	4,774	-646
Changes in:	'	'
Receivables	1,062	-79
Prepaid expenses	-238	-446
Inventories	-27,430	-35,793
Accounts payable	27,580	35,164
Accrued salaries and commissions	-204	237
Accrued taxes other than income	1,136	819
Self-insured claims reserves	-311	-214
Income taxes payable	0	154
Other assets and liabilities	-1,312	-89
Net cash provided by (used in) operating activities	-5,877	5,244
Cash flows from investing activities:	'	'
Proceeds from the sale of assets	81	486
Acquisition of property and equipment	-8,459	-8,485
Net cash used in investing activities	-8,378	-7,999
Cash flows from financing activities:	'	'
Borrowings on revolving loan credit agreement	141,639	131,225
Repayments on revolving loan credit agreement	-127,091	-125,288
Principal payments under capital lease obligations	-481	-531
Payments for repurchase of stock	0	-3,963
Net cash provided by (used in) financing activities	14,067	1,443
Net decrease in cash and cash equivalents	-188	-1,312
Cash at beginning of period	3,160	2,491
Cash at end of period	2,972	1,179
Supplemental cash flow information:	'	'
Interest, excluding interest on capital lease obligations and amortization of debt financing costs	1,687	1,318
Net income tax paid	$140	$123

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Nov. 03, 2013
Basis of Presentation [Abstract]	'
Basis of Presentation	'
	-1	Basis of Presentation
	The accompanying unaudited financial statements of ALCO Stores, Inc. (the "Company") are for interim periods and have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The accompanying unaudited financial statements should be read in conjunction with the financial statements included in the Company's fiscal 2013 Annual Report on Form 10-K. In the opinion of management of the Company, the accompanying unaudited financial statements reflect all adjustments (consisting of normal recurring accruals) necessary to present fairly the financial position of the Company and the results of its operations and cash flows for the interim periods. Because the Company's business is moderately seasonal, the results from interim periods are not necessarily indicative of the results to be expected for the entire year.
	The Company's fiscal year ends on the Sunday nearest to January 31. Fiscal 2014 is a 52-week period consisting of four thirteen week periods, with each period referred to as a quarter. Fiscal 2013 was a 53-week period consisting of three thirteen week periods and one fourteen week period. During Fiscal 2013, the fourteen week period occurred in the fourth quarter. The thirteen weeks ended November 3, 2013 and October 28, 2012 are referred to herein as the third quarter of fiscal 2014 and 2013, respectively.
	Same-stores are those stores which were open at the end of the reporting period, had reached their fourteenth month of operation, and include store locations, if any, that had experienced a remodel, an expansion, or relocation. Same-stores also include the Company's transactional website.
	Non same-stores are those stores which have not reached their fourteenth month of operation.
	The depreciation and amortization amounts from the Statements of Operations may not agree to the related amounts in the Statements of Cash Flows due to the fact that a portion of the depreciation and amortization is included in loss from discontinued operations, net of income tax benefit line of the Statements of Operations.

ShareBased_Compensation

Share-Based Compensation	9 Months Ended
Share-Based Compensation	Nov. 03, 2013
Share-Based Compensation [Abstract]	'
Share-Based Compensation	'
	-2	Share-Based Compensation
	The Company recognizes compensation expense for its share-based payments based on the fair value of the awards at grant date. Share-based payments consist of stock option grants and the related compensation cost is recognized over the requisite service period of the award.
	Total share-based compensation expense (a component of selling, general and administrative expenses) is summarized as follows:
			Thirteen Week Periods Ended						Thirty-Nine Week Periods Ended
			November 3,			October 28,			November 3,			October 28,
			2013			2012			2013			2012

	Share-based compensation expense before income taxes		$	107			97		$	335			327
	Income tax benefit			(40	)		(39	)		(125	)		(132	)

	Share-based compensation expense net of income tax benefit		$	67			58		$	210			195

	Effect on:
	Basic earnings per share		$	0.02			0.02		$	0.06			0.05
	Diluted earnings per share		$	0.02			0.02		$	0.06			0.05
	Forfeitures are estimated at the time of valuation and reduce expense ratably over the vesting period. This estimate is adjusted periodically based on the extent to which actual forfeitures differ, or are expected to differ, from the previous estimate.
	Equity Incentive Plan
	In May 2003, the stockholders approved the 2003 ALCO Stores, Inc. Incentive Stock Option Plan and such plan was amended in 2010 to permit optionees to make a cashless, net exercise of their stock options (the 2003 ALCO Stores, Inc. Incentive Stock Option Plan, as amended is hereinafter referred to as the "2003 Plan"). There are 500,000 shares of Common Stock authorized for issuance upon exercise of options under the 2003 Plan. According to the terms of the 2003 Plan, the per share exercise price of options granted shall not be less than the fair market value of the stock on the date of grant and such options will expire no later than five years from the date of grant. The options vest in equal amounts over a four year requisite service period beginning from the grant date unless certain Company events occur. In the case of a stockholder owning more than 10% of the outstanding voting stock of the Company, the exercise price of an incentive stock option may not be less than 110% of the fair market value of the stock on the date of grant and such options will expire no later than five years from the date of grant. Also, the aggregate fair market value of the stock with respect to which incentive stock options are exercisable on a tax deferred basis for the first time by an individual in any calendar year may not exceed $0.1 million. In the event that the foregoing results in a portion of an option exceeding the $0.1 million limitation, such portion of the option in excess of the limitation shall be treated as a nonqualified stock option. At November 3, 2013, the Company had 275,875 remaining shares authorized for future option grants. Upon exercise, the Company issues these shares from the unissued shares authorized. The 2003 Plan had a term of ten years and options could no longer be granted under the 2003 Plan after May 2013. Therefore, the Compensation Committee created a new stock option plan that was voted upon by the Company's stockholders during the 2012 annual meeting to replace the 2003 Plan.
	On June 27, 2012, the Company's stockholders approved the Company's 2012 Equity Incentive Plan (the "2012 Plan"), which is administered by the Compensation Committee of the Company's Board of Directors. Under the 2012 Plan, the Company may grant up to 500,000 shares of Company stock in the form of stock options, restricted stock, stock appreciation rights and other stock awards to officers, key employees and consultants of the Company and its affiliates; provided however, the Company's directors are not permitted to be participants in the 2012 Plan. The Compensation Committee has broad discretion to administer the 2012 Plan, interpret its provisions, and adopt policies for implementing purposes of the 2012 Plan. This discretion includes the power to select the persons who will receive awards, determine the form, terms and conditions of any such awards, and interpret, construe and apply such terms and conditions. According to the terms of the 2012 Plan, the per share exercise price of stock options granted shall not be less than the fair market value of the stock on the date of grant and such options will expire no later than ten years from the date of grant. The stock options, awards and rights granted under the Plan vest over a certain period of time, as determined by the Compensation Committee in its sole discretion, beginning from the grant date unless certain Company events occur as further provided under the terms of the Plan. In the case of a stockholder owning more than 10% of the outstanding voting stock of the Company, the exercise price of an incentive stock option may not be less than 110% of the fair market value of the stock on the date of grant and such options will expire no later than five years from the date of grant. Also, the aggregate fair market value of the stock with respect to which incentive stock options are exercisable on a tax deferred basis for the first time by an individual in any calendar year may not exceed $0.1 million. In the event that the foregoing results in a portion of an option exceeding the $0.1 million limitation, such portion of the option in excess of the limitation shall be treated as a non-qualified stock option. No more than 100,000 shares of the Company's stock may be awarded in a single calendar year to any individual participating in the 2012 Plan. At November 3, 2013, the Company had 392,500 remaining shares authorized for future option grants. Upon exercise, the Company issues these shares from the unissued shares authorized. The 2012 Plan will expire on June 27, 2022.
	Under our Non-Qualified Stock Option Plan for Non-Management Directors (the "Director Plan"), options may be granted to Directors of the Company who are not otherwise officers or employees of the Company, not to exceed 200,000 shares. According to the terms of the Director Plan, the per share exercise price of options granted shall not be less than the fair market value of the stock on the date of grant and such options will expire five years from the date of grant. The options vest in equal amounts over a four year requisite service period beginning from the grant date unless certain Company events occur. All options under the Director Plan shall be non-qualified stock options. At November 3, 2013, the Company had 76,457 remaining shares to be issued under this plan. Upon exercise, the Company will issue these shares from the unissued shares authorized.
	The fair value of each option grant is separately estimated. The fair value of each option is amortized into share-based compensation on a straight-line basis over the requisite service period as discussed above. We have estimated the fair value of all stock option awards as of the date of the grant by applying a modified Black-Scholes pricing valuation model. The application of this valuation model involves assumptions that are judgmental and highly sensitive in the determination of share-based compensation, including expected stock price volatility. The assumptions used in determining the fair value of options granted and a summary of the methodology applied to develop each assumption are as follows:
			Fiscal 2013			Thirteen Week Periods Ended						Thirty-Nine Week Periods Ended
			Ended			Thirteen Week Periods Ended						Thirty-Nine Week Periods Ended
			February 3,			November 3,			October 28,			November 3,			October 28,
			2013			2013			2012			2013			2012
	Stock options granted			190,000			—			—			129,500			190,000

	Weighted average exercise price		$	9.41		$	—		$	—		$	9.97		$	9.41

	Weighted average grant date fair value (per share)		$	3.92		$	—		$	—		$	4.69		$	3.92

	Expected price volatility			48.23	%		N/	A		N/	A		47.11	%		48.23	%

	Risk-free interest rate			0.59	%		N/	A		N/	A		0.6	%		0.59	%

	Weighted average expected lives in years			7.2			N/	A		N/	A		7.4			7.2

	Dividend yield			0	%		N/	A		N/	A		0	%		0	%

	EXPECTED PRICE VOLATILITY — A measure of the amount by which a price has fluctuated or is expected to fluctuate. The Company uses actual historical changes in the market value of its stock to calculate expected price volatility because management believes that this is the best indicator of future volatility. The Company calculates monthly market value changes from the date of grant over a past period to determine volatility. An increase in the expected volatility will increase share-based compensation.
	RISK-FREE INTEREST RATE — The applicable U.S. Treasury rate for the date of the grant over the expected term. An increase in the risk-free interest rate will increase share-based compensation.
	EXPECTED LIVES — The period of time over which the options granted are expected to remain outstanding and is based on management's expectations in relation to the holders of the options. Options granted have a maximum term of ten years. An increase in the expected life will increase share-based compensation.
	DIVIDEND YIELD — The Company has not made any dividend payments nor does it have plans to pay dividends in the foreseeable future. An increase in the dividend yield will decrease share-based compensation.
	As of November 3, 2013, total unrecognized share-based compensation expense related to non-vested stock options is $0.5 million with a weighted average expense recognition period of 2.9 years.

Accounting_for_Income_Taxes

Accounting for Income Taxes	9 Months Ended
	Nov. 03, 2013
Accounting for Income Taxes [Abstract]	'
Accounting for Income Taxes	'
	-3	Accounting for Income Taxes

	Income taxes are provided using the asset/liability method, in which deferred taxes are recognized for the tax consequences of temporary differences between the financial statement carrying amounts and tax basis of existing assets and liabilities. Deferred tax assets are reviewed for recoverability and valuation allowances are provided as necessary. The Company generally records income tax expense during interim periods based on its best estimate of the full year's effective tax rate. However, income tax expense relating to adjustments to the Company's liabilities for uncertainty in income tax positions for prior reporting periods are accounted for in the interim period in which it occurs. Income tax expense relating to adjustments for current year uncertain tax positions are accounted for as a component of the adjusted annualized effective tax rate.
	In assessing the need for a valuation allowance, the Company considers both positive and negative evidence related to the likelihood of realization of the deferred tax assets. The weight given to the positive and negative evidence is commensurate with the extent to which the evidence may be objectively verified. Accounting guidance states that a cumulative loss in recent years is a significant piece of negative evidence that is difficult to overcome in determining whether a valuation allowance is not needed against deferred tax assets. As such, it is generally difficult for positive evidence regarding projected future taxable income exclusive of reversing taxable temporary differences to outweigh objective negative evidence of recent financial reporting losses.
	The Company recorded the valuation allowance on its $9.8 million net deferred tax assets during the third quarter due to losses from operations and forecasts of losses for the current year to the extent we expected to be in a cumulative loss position for the three year period ending February 2, 2014. Based on this assessment, the Company could not support the realization of its net deferred tax assets in future periods, and the remaining n et deferred tax assets were written off. Management will continue to evaluate all of the positive and negative evidence in future quarters and will make a determination as to whether it is more likely than not that its net deferred tax assets will be realized in future periods. The establishment of a valuation allowance does not have any impact on cash, nor does such an allowance preclude the Company from using its loss carryforwards or utilizing other deferred tax assets in the future.
	The statute of limitations for the Company's federal income tax returns is open for fiscal 2011 through fiscal 2013. The Company files in numerous state jurisdictions with varying statutes of limitation. The Company's state returns are subject to examination by the taxing authority for fiscal 2010 through 2013 or fiscal 2011 through fiscal 2013, depending on each state's statute of limitations.

Fair_Value_Measurements

Fair Value Measurements	9 Months Ended
	Nov. 03, 2013
Fair Value Measurements [Abstract]	'
Fair Value Measurements	'
	-4	Fair Value Measurements
	The financial instruments of the Company consist of cash, short-term receivables and accounts payable, accrued expenses and long-term debt instruments, including capital leases. For notes payable under revolving loan, fair value approximates the carrying value due to the variable interest rate. For all other financial instruments, including cash, short-term receivables, accounts payable and accrued expenses, the carrying amounts approximate fair value due to the short maturity of those instruments.

Earnings_Per_Share

Earnings Per Share	9 Months Ended
Earnings Per Share	Nov. 03, 2013
Earnings Per Share [Abstract]	'
Earnings Per Share	'
	-5	Earnings Per Share
	Basic earnings per share is computed by dividing net earnings by the weighted average number of shares outstanding. Diluted earnings per share reflect the potential dilution that could occur if contracts to issue securities (such as stock options) were exercised, except for those periods with a loss where the effect would be anti-dilutive. The weighted average number of shares used in computing earnings per share was as follows:
			Thirteen Week Periods Ended		Thirty-Nine Week Periods Ended
			November 3,	October 28,	November 3,	October 28,
			2013	2012	2013	2012
	Basic		3,258,163	3,677,357	3,258,163	3,769,234
	Diluted		3,258,163	3,677,357	3,258,163	3,769,234

Store_Closings_and_Discontinue

Store Closings and Discontinued Operations	9 Months Ended
	Nov. 03, 2013
Store Closings and Discontinued Operations [Abstract]	'
Store Closings and Discontinued Operations	'
	-6	Store Closings and Discontinued Operations
	When the operation of a store is discontinued and the store is closed, the Company reclassifies historical operating results from continuing operations to discontinued operations. The Company closed four stores during the third quarter of fiscal 2014 and a total of eight stores during the thirty-nine weeks ended November 3, 2013, whereas the Company closed one store during the third quarter of fiscal 2013 and a total of four stores during the thirty-nine weeks ended October 28, 2012.

LongTerm_Debt

Long-Term Debt	9 Months Ended
	Nov. 03, 2013
Long-Term Debt [Abstract]	'
Debt Disclosure	'
	-7	Long-Term Debt
	On July 21, 2011, the Company entered into a five-year revolving Credit Agreement (the "Facility") with Wells Fargo Bank, National Association and Wells Capital Finance, LLC (collectively "Wells Fargo"). The $120.0 million Facility replaced the Company's previous $120.0 million credit facility with Bank of America, N.A. and Wells Fargo Retail Finance, LLC, and expires July 20, 2016. Additional costs paid to Wells Fargo in connection with the new facility were $0.5 million. Those fees have been deferred and will be amortized over the term of the new facility. Loan advances are secured by a security interest in the Company's inventory and credit card receivables.
	Based on the Company's average excess availability, the amount advanced to the Company on any Base Rate Loan (as such term is defined in the Facility) bears interest at the highest of (a) the rate of interest in effect for such day as publicly announced from time to time by Wells Fargo as its "prime rate"; (b) the Federal Funds Rate for such day, plus 1.0%; and (c) the LIBO Rate for a 30 day interest period as determined on such day, plus 2.0%. Amounts advanced with respect to any LIBO Borrowing for any Interest Period (as those terms are defined in the Facility) shall bear interest at an interest rate per annum (rounded upwards, if necessary, to the next 1/16 of one percent) equal to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate (as defined in the Facility). The Facility contains various restrictions that are applicable when outstanding borrowings reach certain thresholds, including limitations on additional indebtedness, prepayments, acquisition of assets, granting of liens, certain investments and payment of dividends.
	On October 12, 2012, subsequent to a trade confirmation executed October 10, 2012 whereby the Company repurchased shares of its Common Stock, the Company notified Wells Fargo that immediately after giving effect to the share repurchase, the Consolidated Fixed Charge Coverage Ratio would not be greater than the required ratio per Section 7.06(c) of the Facility. On October 12, 2012, Wells Fargo issued its consent of the repurchase (the "WF Consent"); provided that the WF Consent automatically terminated in the event the repurchase was not consummated within 90 days of the date of consent.
	On February 6, 2013, the Board of Directors of the Company unanimously approved a First Amendment (the "Amendment") to its Credit Agreement with Wells Fargo National Association, amending Section 7.06(c) of the Credit Agreement to permit the Company, subject to certain conditions set forth in the Amendment, to repurchase, redeem or otherwise acquire Equity Interests issued by the Company not to exceed $1.0 million in the aggregate in each fiscal year. Under the Credit Agreement, "Equity Interests" is defined as all of the shares of the capital stock of a person and all of the other warrants, options or other rights of a person to purchase capital stock of such person. Such amendment was announced on Form 8-K filed by the Company with the Securities and Exchange Commission on February 12, 2013 and a copy of the Amendment is attached to such 8-K. Except to the extent specifically set forth in the WF Consent and the Amendment, no other consent, waiver of, or change in any of the terms, provisions or conditions of the Credit Agreement is intended or implied.
	Notes payable outstanding at November 3, 2013 and October 28, 2012 under the revolving loan credit facility aggregated $78.0 million and $58.0 million, respectively. The lender had also issued letters of credit aggregating $8.8 million and $8.6 million, respectively, at such dates on behalf of the Company. The interest rates on the outstanding borrowings at November 3, 2013 were 2.19% on $67.0 million of the outstanding balance and 4.25% on the remaining $11.0 million. The Company had additional borrowings available at November 3, 2013 under the revolving loan credit facility amounting to approximately $33.2 million.
	Interest expense on notes payable and long-term debt, excluding capital lease obligations and amortization of debt financing costs, aggregated $0.5 million and $0.5 million during the third quarter of fiscal 2014 and fiscal 2013, respectively. Interest expense on notes payable and long-term debt, excluding capital lease obligations and amortization of debt financing costs, aggregated $1.7 million and $1.3 million during the thirty-nine weeks ended November 3, 2013 and October 28, 2012, respectively.
	On November 22, 2013, pursuant to Section 2.16 of the Facility, the Board of Directors unanimously approved to request to increase the revolving credit commitments of the Company by $10.0 million (the "Commitment Increase"); thereby, increasing the overall Facility from $120.0 million to $130.0 million. Except for the Commitment Increase, the Facility remains unchanged and in full force and effect.

Stock_Repurchase

Stock Repurchase	9 Months Ended
	Nov. 03, 2013
Stock Repurchase [Abstract]	'
Stock Repurchase	'
	-8	Stock Repurchase
	On July 27, 2012, the Company entered into a new Rule 10b5-1 and Rule 10b-18 Stock Repurchase Agreement with William Blair and Company, LLC (the "Stock Repurchase Agreement") whereby the Company authorized the repurchase of up to 175,000 shares of the Company's Common Stock under the Company's stock repurchase program (the "Program").
	The Program was initially authorized by the Company on March 23, 2006, whereby the Board of Directors of the Company authorized the repurchase of 200,000 shares of the Company's Common Stock, and the Company repurchased 3,337 shares of Common Stock under the Program. The Company's Board of Directors reinstated the Program on August 13, 2008 and the Company repurchased 22,197 shares of Common Stock under the Program during such period of reinstatement. The Board of Directors of the Company approved the reinstatement of the Program again on January 6, 2012 and the Company repurchased an additional 34,407 shares of Common Stock during such reinstatement. On April 25, 2012, the Board of Directors of the Company authorized the Company to repurchase an additional 500,000 shares of Common Stock for a total of 700,000 shares of Common Stock authorized for repurchase under the Program. The Stock Repurchase Agreement only authorizes William Blair and Company, LLC to repurchase a portion of the total shares available for repurchase under the Program as stated above. Under the terms of the Program, the Company can terminate the proposed buy back at any time.
	There were no shares repurchased by the Company during the third quarter of fiscal 2014. During fiscal 2013, the Company repurchased a total of 584,928 shares of Common Stock under the Program. All shares were repurchased at market prices and the Company's policy is to apply the excess of purchase price over par value to additional paid-in capital, resulting in a decrease to additional paid-in capital of $4.0 million. As of November 3, 2013, the Company had repurchased a total of 610,462 shares under the Program since it was initially approved in 2006. Therefore, there were 89,538 shares of Common Stock available to be repurchased by the Company, as of November 3, 2013.

Merger_Agreement

Merger Agreement	9 Months Ended
	Nov. 03, 2013
Merger Agreement [Abstract]	'
Merger Agreement	'
	-9	Merger Agreement
	On July 25, 2013, the Company entered into an Agreement and Plan of Merger (the "Merger Agreement") with Mallard Parent, LLC, ("Parent") and M Acquisition Corporation, ("Merger Sub"), providing for the merger of Merger Sub with and into the Company (the "Merger"), with the Company surviving the Merger as a wholly owned subsidiary of Parent. Parent and Acquisition Sub are beneficially owned by an affiliate of Argonne Capital Group, LLC (the "Sponsor"). The merger consideration was $14.00 per share in cash, without interest, and was to be supported through financing to be obtained by the Sponsor.
	Under the Merger Agreement, each share of the Company's common stock issued and outstanding immediately prior to the effective time of the Merger (other than shares, if any, owned by Parent, Merger Sub, the Company, or any other direct or indirect wholly owned subsidiary of Parent, Merger Sub, or the Company) would have been converted into the right to receive $14.00 per share in cash, without interest.
	The Merger was subject to the approval by at least a majority of all outstanding shares of common stock. The Merger was also subject to various other customary conditions, including the absence of any governmental order prohibiting the consummation of the transaction contemplated by the Merger Agreement, the accuracy of the representations and warranties contained in the Merger Agreement, and compliance with the covenants and agreements in the Merger Agreement in all material respects.
	The Company was subject to customary "non-solicitation" provisions that limit its ability to solicit, encourage, discuss or negotiate alternative acquisition proposals from third parties or to provide non-public information to third parties. These non-solicitation provisions were subject to a "fiduciary out" provision that allows the Company to provide non-public information and participate in discussions and negotiations with respect to certain unsolicited written acquisition proposals and to terminate the Merger Agreement and enter into an alternative acquisition agreement with respect to a superior proposal in compliance with the terms of the Merger Agreement, provided that the Company's Board of Directors has concluded that the failure to do so would be inconsistent with its fiduciary obligations under applicable law.
	The Merger Agreement contained certain termination rights, including the Company's right to terminate the Merger Agreement to accept a superior proposal, and provided that, upon termination of the Merger Agreement by the Company under specified conditions, a termination fee would have been payable by the Company. In such circumstances, the Company would have been required to pay Sponsor $2.25 million.
	Subject to approval by at least a majority of all outstanding shares of common stock, the proposed Merger was expected to close before the end of the 2013 calendar year.
	On October 30, 2013, the Company held a special meeting of its stockholders to vote on the proposal to adopt the Merger Agreement. The proposal to adopt the Merger Agreement did not receive approval from more than a majority of the outstanding share of the Company's common stock, and therefore was not approved by the Company's Stockholders. As a result of the failure to receive such stockholder approval, on October 30, 2013, the Company delivered to parent and Merger Sub a written notice (the "Termination Notice") terminating the Merger Agreement in accordance with Section 7.2(b) of the Merger Agreement. As a result of the Termination Notice, the Merger Agreement was terminated and the merger contemplated was abandoned. Because the Termination Notice was delivered because of the failure of the Company's stockholders to approve the Merger Agreement, no termination fee was paid by either party.
	Merger related costs for the thirty-nine weeks ended November 3, 2013, included in SG&A Expenses from Continuing Operations, were $2.3 million, and include special compensation fees paid to the Company's Board of Directors, in the amount of $0.3 million, for merger related activities.

Legal_Proceedings

Legal Proceedings	9 Months Ended
	Nov. 03, 2013
Legal Proceedings [Abstract]	'
Legal Proceedings	'
	(10)	Legal Proceedings
	On September 5, 2013, Advanced Advisors, a Company stockholder, filed a class action petition in the District Court of Shawnee County, Kansas (case no. 13C001007) citing, among other parties, the Company and the Company's directors, Royce Winsten, Terrence Babilla, Dennis Logue, Lolan Mackey, and Richard Wilson, as defendants. The petition challenges the defendants' actions in causing the Company to enter into the Merger Agreement under which Argonne Capital Group, LLC was to purchase all of the outstanding shares of the Company. The allegations against the defendants include breaches of fiduciary duties and the aiding and abetting of breaches of fiduciary duties. The amount of the damages is unspecified. The Company intends to vigorously defend itself.
	On September 23, 2013, Paul Hughes, an individual Company stockholder, filed a class action petition in the District Court of Shawnee County, Kansas (case no. 13C001096) citing, among other parties, the Company and the Company's directors, Royce Winsten, Terrence Babilla, Dennis Logue, Lolan Mackey, and Richard Wilson, as defendants. The petition challenges the defendants' actions in causing the Company to enter into the Merger Agreement under which Argonne Capital Group, LLC was to purchase all of the outstanding shares of the Company. The allegations against the defendants include breaches of fiduciary duties and the aiding and abetting of breaches of fiduciary duties. The amount of the damages is unspecified. There is a dismissal hearing for this matter scheduled for January 10, 2014. The Company intends to vigorously defend itself.
	On September 27, 2013, Jeffery R. Geygan, an individual Company stockholder, filed a class action petition in the District Court of Shawnee County, Kansas (case no. 13C001120) citing, among other parties, the Company and the Company's directors, Royce Winsten, Terrence Babilla, Dennis Logue, Lolan Mackey, and Richard Wilson, as defendants. The petition challenges the defendants' actions in causing the Company to enter into the Merger Agreement under which Argonne Capital Group, LLC was to purchase all of the outstanding shares of the Company. The allegations against the defendants include breaches of fiduciary duties and the aiding and abetting of breaches of fiduciary duties. The amount of the damages is unspecified. The parties have filed a joint motion to consolidate this case and the case filed by Advanced Advisors discussed above. The Company intends to vigorously defend itself.

ShareBased_Compensation_Tables

Share-Based Compensation (Tables)	9 Months Ended
Share-Based Compensation (Tables)	Nov. 03, 2013
Share-Based Compensation [Abstract]	'
Summary of Share Based Compensation Expense	'
	Total share-based compensation expense (a component of selling, general and administrative expenses) is summarized as follows:
		Thirteen Week Periods Ended						Thirty-Nine Week Periods Ended
		November 3,			October 28,			November 3,			October 28,
		2013			2012			2013			2012

	Share-based compensation expense before income taxes	$	107			97		$	335			327
	Income tax benefit		(40	)		(39	)		(125	)		(132	)

	Share-based compensation expense net of income tax benefit	$	67			58		$	210			195

	Effect on:
	Basic earnings per share	$	0.02			0.02		$	0.06			0.05
	Diluted earnings per share	$	0.02			0.02		$	0.06			0.05
Assumptions Used In Determining Fair Value of Options Granted and Summary of Methodology Applied to Develop Each Assumption	'
	The fair value of each option grant is separately estimated. The fair value of each option is amortized into share-based compensation on a straight-line basis over the requisite service period as discussed above. We have estimated the fair value of all stock option awards as of the date of the grant by applying a modified Black-Scholes pricing valuation model. The application of this valuation model involves assumptions that are judgmental and highly sensitive in the determination of share-based compensation, including expected stock price volatility. The assumptions used in determining the fair value of options granted and a summary of the methodology applied to develop each assumption are as follows:
		Fiscal 2013			Thirteen Week Periods Ended						Thirty-Nine Week Periods Ended
		Ended			Thirteen Week Periods Ended						Thirty-Nine Week Periods Ended
		February 3,			November 3,			October 28,			November 3,			October 28,
		2013			2013			2012			2013			2012
	Stock options granted		190,000			—			—			129,500			190,000

	Weighted average exercise price	$	9.41		$	—		$	—		$	9.97		$	9.41

	Weighted average grant date fair value (per share)	$	3.92		$	—		$	—		$	4.69		$	3.92

	Expected price volatility		48.23	%		N/	A		N/	A		47.11	%		48.23	%

	Risk-free interest rate		0.59	%		N/	A		N/	A		0.6	%		0.59	%

	Weighted average expected lives in years		7.2			N/	A		N/	A		7.4			7.2

	Dividend yield		0	%		N/	A		N/	A		0	%		0	%

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	9 Months Ended
	Nov. 03, 2013
Earnings Per Share [Abstract]	'
Weighted Average Number of Shares	'
	Basic earnings per share is computed by dividing net earnings by the weighted average number of shares outstanding. Diluted earnings per share reflect the potential dilution that could occur if contracts to issue securities (such as stock options) were exercised, except for those periods with a loss where the effect would be anti-dilutive. The weighted average number of shares used in computing earnings per share was as follows:
		Thirteen Week Periods Ended		Thirty-Nine Week Periods Ended
		November 3,	October 28,	November 3,	October 28,
		2013	2012	2013	2012
	Basic	3,258,163	3,677,357	3,258,163	3,769,234
	Diluted	3,258,163	3,677,357	3,258,163	3,769,234

ShareBased_Compensation_Detail

Share-Based Compensation (Details) (USD $)	3 Months Ended		9 Months Ended		12 Months Ended
Share-Based Compensation (Details) (USD $)	Nov. 03, 2013	Oct. 28, 2012	Nov. 03, 2013	Oct. 28, 2012	Feb. 03, 2013
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'	'	'	'
Share-based compensation expense before income taxes	$107,000	$97,000	$335,000	$327,000	'
Income tax benefit	-40,000	-39,000	-125,000	-132,000	'
Share-based compensation expense net of income tax benefit	67,000	58,000	210,000	195,000	'
Effect on [Abstract]	'	'	'	'	'
Basic earnings per share (in dollars per share)	$0.02	$0.02	$0.06	$0.05	'
Diluted earnings per share (in dollars per share)	$0.02	$0.02	$0.06	$0.05	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'
Stock options granted (in shares)	0	0	129,500	190,000	190,000
Weighted average exercise price (in dollars per share)	$0	$0	$9.97	$9.41	$9.41
Weighted average grant date fair value (in dollars per share)	$0	$0	$4.69	$3.92	$3.92
Fair Value Assumptions [Abstract]	'	'	'	'	'
Expected price volatility (in hundredths)	'	'	47.11%	48.23%	48.23%
Risk free interest rate (in hundredths)	'	'	0.60%	0.59%	0.59%
Weighted average expected lives in years	'	'	'7 years 4 months 24 days	'7 years 2 months 12 days	'7 years 2 months 12 days
Dividend yield (in hundredths)	'	'	0.00%	0.00%	0.00%
2003 Incentive Stock Option Plan [Member] \| Stock Option Award [Member]	'	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'
Number of shares authorized for share-based compensation (in shares)	500,000	'	500,000	'	'
Expiration period	'	'	'5 years	'	'
Award vesting period	'	'	'4 years	'	'
Term of equity incentive plan	'	'	'5 years	'	'
Stockholder's percentage of ownership of outstanding voting stock (in hundredths)	10.00%	'	10.00%	'	'
Purchase price percentage for a more than 10% shareholder (in hundredths)	'	'	110.00%	'	'
Per person annual limitation	'	'	100,000	'	'
Number of shares available for future grants (in shares)	275,875	'	275,875	'	'
Fair Value Assumptions [Abstract]	'	'	'	'	'
Compensation cost not yet recognized (millions)	500,000	'	500,000	'	'
Period for recognition	'	'	'2 years 10 months 24 days	'	'
Non-Qualified Stock Option Plan Directors [Member] \| Stock Option Award [Member]	'	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'
Number of shares authorized for share-based compensation (in shares)	200,000	'	200,000	'	'
Expiration period	'	'	'5 years	'	'
Award vesting period	'	'	'4 years	'	'
Number of shares available for future grants (in shares)	76,457	'	76,457	'	'
2012 Equity Incentive Plan [Member]	'	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'
Expiration period	'	'	'10 years	'	'
2012 Equity Incentive Plan [Member] \| Stock Option Award [Member]	'	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'	'	'
Number of shares authorized for share-based compensation (in shares)	500,000	'	500,000	'	'
Expiration date	'	'	27-Jun-22	'	'
Period of expiration for share based payments in case the grantee is a stockholder and owns more than 10% of the outstanding voting stock	'	'	'5 years	'	'
Stockholder's percentage of ownership of outstanding voting stock (in hundredths)	10.00%	'	10.00%	'	'
Purchase price percentage for a more than 10% shareholder (in hundredths)	'	'	110.00%	'	'
Per person annual limitation	'	'	$100,000	'	'
Number of shares available for future grants (in shares)	392,500	'	392,500	'	'

Accounting_for_Income_Taxes_De

Accounting for Income Taxes (Details) (USD $)	9 Months Ended
In Millions, unless otherwise specified	Nov. 03, 2013
Accounting for Income Taxes [Abstract]	'
Deferred tax asset recorded	9.8
Internal Revenue Service (IRS) [Member] \| Minimum [Member]	'
Income Tax Contingency [Line Items]	'
Open Tax Year	'2011
Internal Revenue Service (IRS) [Member] \| Maximum [Member]	'
Income Tax Contingency [Line Items]	'
Open Tax Year	'2013
State and Local Jurisdiction [Member] \| Minimum [Member]	'
Income Tax Contingency [Line Items]	'
Open Tax Year	'2010
State and Local Jurisdiction [Member] \| Maximum [Member]	'
Income Tax Contingency [Line Items]	'
Open Tax Year	'2013

Earnings_Per_Share_Details

Earnings Per Share (Details)	3 Months Ended		9 Months Ended
Earnings Per Share (Details)	Nov. 03, 2013	Oct. 28, 2012	Nov. 03, 2013	Oct. 28, 2012
Earnings Per Share [Abstract]	'	'	'	'
Basic (in shares)	3,258,163	3,677,357	3,258,163	3,769,234
Diluted (in shares)	3,258,163	3,677,357	3,258,163	3,769,234

Store_Closings_and_Discontinue1

Store Closings and Discontinued Operations (Details)	3 Months Ended		9 Months Ended
	Nov. 03, 2013	Oct. 28, 2012	Nov. 03, 2013	Oct. 28, 2012
	Store	Store	Store	Store
Store Closings and Discontinued Operations [Abstract]	'	'	'	'
Number of stores closed	4	1	8	4

LongTerm_Debt_Details

Long-Term Debt (Details) (USD $)

3 Months Ended

9 Months Ended

0 Months Ended

9 Months Ended

Nov. 03, 2013

Oct. 28, 2012

Nov. 03, 2013

Oct. 28, 2012

Feb. 03, 2013

Nov. 22, 2013

Nov. 03, 2013

Oct. 28, 2012

Nov. 03, 2013

Oct. 28, 2012

Nov. 03, 2013

Nov. 22, 2013

Subsequent Event [Member]

Revolving Credit Facility [Member]

Revolving Credit Facility, 2.19% Interest Rate [Member]

Revolving Credit Facility, 4.25% Interest Rate [Member]

Notes Payable [Member]

Letter of Credit [Member]

Wells Fargo [Member]

Revolving Credit Facility [Member]

Subsequent Event [Member]

Line of Credit Facility [Line Items]

Date revolving credit facility entered

21-Jul-11

Maturity period

'5 years

Credit facility, maximum borrowing amount

$120,000,000

$130,000,000

Credit facility maturity date

20-Jul-16

Facility fees related to new facility

500,000

Interest rate terms

'Based on the Company's average excess availability, the amount advanced to the Company on any Base Rate Loan (as such term is defined in the Facility) bears interest at the highest of (a) the rate of interest in effect for such day as publicly announced from time to time by Wells Fargo as its "prime rate"; (b) the Federal Funds Rate for such day, plus 1.0%; and (c) the LIBO Rate for a 30 day interest period as determined on such day, plus 2.0%. Amounts advanced with respect to any LIBO Borrowing for any Interest Period (as those terms are defined in the Facility)

Percentage added to Prime Rate (in hundredths)

1.00%

Number of days related to LIBOR rate

'30 days

Percentage added to LIBOR Rate (in hundredths)

2.00%

Round off related to interest rate

'1/16 of one percent

Period of consent to consummate repurchased shares

'90 days

Amount of equity interest permitted to repurchase, redeem or otherwise acquire per the amendment, maximum

1,000,000

Amount outstanding under revolving loan facility

77,995,000

63,446,000

67,000,000

11,000,000

78,000,000

58,000,000

8,800,000

8,600,000

Interest rate on outstanding borrowing (in hundredths)

2.19%

4.25%

Additional borrowing available

33,200,000

Interest expense on notes payable and long term debt

500,000

1,700,000

1,300,000

Increased revolving credit commitment

$10,000,000

Stock_Repurchase_Details

Stock Repurchase (Details) (USD $)	0 Months Ended	3 Months Ended	9 Months Ended	12 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 23, 2006	Nov. 03, 2013	Nov. 03, 2013	Feb. 03, 2013	Jan. 29, 2012	Feb. 01, 2009	Jul. 27, 2012	Apr. 25, 2012
Equity, Class of Treasury Stock [Line Items]	'	'	'	'	'	'	'	'
Number of shares authorized (in shares)	200,000	'	'	'	'	'	175,000	700,000
Shares purchased (in shares)	3,337	0	610,462	584,928	34,407	22,197	'	'
Additional shares authorized by the board of Directors (in shares)	'	'	'	'	'	'	'	500,000
Adjustments to Additional Paid in Capital for stock repurchase program	'	'	$4	'	'	'	'	'
Remaining number of shares authorized to be repurchased (in shares)	'	89,538	89,538	'	'	'	'	'

Merger_Agreement_Details

Merger Agreement (Details) (USD $)	0 Months Ended	9 Months Ended
In Millions, except Per Share data, unless otherwise specified	Jul. 25, 2013	Nov. 03, 2013
Merger Agreement [Abstract]	'	'
Business acquisition date	25-Jul-13	'
Merger consideration (in dollars per share)	$14	'
Termination fee required to pay Sponsor	'	$2.25
Merger Related cost	'	2.3
Special compensation fees	'	$0.30