Williams-Sonoma (WSM) 10-Q 11 Sep 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Aug. 02, 2015	Aug. 30, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Aug. 2, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	WSM
Entity Registrant Name	WILLIAMS SONOMA INC
Entity Central Index Key	719,955
Current Fiscal Year End Date	--02-02
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		90,742,939

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Aug. 02, 2015	Aug. 03, 2014	Aug. 02, 2015	Aug. 03, 2014
Net revenues	[1]	$ 1,127,028	$ 1,039,102	$ 2,157,704	$ 2,013,432
Cost of goods sold		720,403	657,004	1,372,238	1,262,926
Gross profit		406,625	382,098	785,466	750,506
Selling, general and administrative expenses		323,282	296,762	630,195	590,844
Operating income		83,343	85,336	155,271	159,662
Interest (income) expense, net		275	40	283	(29)
Earnings before income taxes		83,068	85,296	154,988	159,691
Income taxes		29,400	34,549	56,530	62,782
Net earnings		$ 53,668	$ 50,747	$ 98,458	$ 96,909
Basic earnings per share		$ 0.59	$ 0.54	$ 1.08	$ 1.03
Diluted earnings per share		$ 0.58	$ 0.53	$ 1.06	$ 1.01
Shares used in calculation of earnings per share:
Basic		91,243	93,979	91,475	94,010
Diluted		92,564	95,839	92,969	95,714
[1]	Includes net revenues related to our foreign operations of approximately $66.9 million and $55.4 million for the thirteen weeks ended August 2, 2015 and August 3, 2014, respectively, and $121.7 million and $106.5 million for the twenty-six weeks ended August 2, 2015 and August 3, 2014, respectively.

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 02, 2015	Aug. 03, 2014	Aug. 02, 2015	Aug. 03, 2014
Net earnings	$ 53,668	$ 50,747	$ 98,458	$ 96,909
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(3,694)	545	(2,827)	1,943
Change in fair value of derivative financial instruments	800	91	421	(207)
Reclassification adjustment for realized gains on derivative financial instruments	(474)	(287)	(672)	(520)
Comprehensive income	$ 50,300	$ 51,096	$ 95,380	$ 98,125

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Aug. 02, 2015		Feb. 01, 2015	Aug. 03, 2014
Current assets
Cash and cash equivalents	$ 119,776		$ 222,927	$ 70,574
Accounts receivable, net	81,753		67,465	69,653
Merchandise inventories, net	1,031,472		887,701	894,860
Prepaid catalog expenses	38,088		33,942	39,072
Prepaid expenses	56,119		36,265	55,892
Deferred income taxes, net	130,687		130,618	121,527
Other assets	12,808		13,005	9,772
Total current assets	1,470,703		1,391,923	1,261,350
Property and equipment, net	875,002		883,012	849,255
Non-current deferred income taxes, net	0		4,265	856
Other assets, net	50,266		51,077	52,087
Total assets	2,395,971	[1]	2,330,277	2,163,548	[1]
Current liabilities
Accounts payable	416,276		397,037	336,470
Accrued salaries, benefits and other	103,695		136,012	101,818
Customer deposits	288,654		261,679	251,146
Borrowings under revolving line of credit	150,000		0	0
Income taxes payable	14,678		32,488	14,604
Current portion of long-term debt	0		1,968	1,968
Other liabilities	50,237		46,764	44,713
Total current liabilities	1,023,540		875,948	750,719
Deferred rent and lease incentives	179,103		166,925	171,193
Non-current deferred income taxes, net	1,213		0	0
Other long-term obligations	50,739		62,698	63,227
Total liabilities	$ 1,254,595		$ 1,105,571	$ 985,139
Commitments and contingencies
Stockholders' equity
Preferred stock: $.01 par value; 7,500 shares authorized; none issued	$ 0		$ 0	$ 0
Common stock: $.01 par value; 253,125 shares authorized; 90,860, 91,891 and 93,414 shares issued and outstanding at August 2, 2015, February 1, 2015 and August 3, 2014, respectively	909		919	934
Additional paid-in capital	532,835		527,261	514,464
Retained earnings	615,193		701,214	657,721
Accumulated other comprehensive income (loss)	(5,625)		(2,548)	7,741
Treasury stock, at cost	(1,936)		(2,140)	(2,451)
Total stockholders' equity	1,141,376		1,224,706	1,178,409
Total liabilities and stockholders' equity	$ 2,395,971		$ 2,330,277	$ 2,163,548
[1]	Includes long-term assets related to our foreign operations of approximately $60.0 million and $62.2 million as of August 2, 2015 and August 3, 2014, respectively.

Condensed Consolidated Balance5

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Aug. 02, 2015	Feb. 01, 2015	Aug. 03, 2014
Preferred stock, par value	$ 0.01	$ 0.01	$ 0.01
Preferred stock, shares authorized	7,500,000	7,500,000	7,500,000
Preferred stock, shares issued	0	0	0
Common stock, par value	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized	253,125,000	253,125,000	253,125,000
Common stock, shares issued	90,860,000	91,891,000	93,414,000
Common stock, shares outstanding	90,860,000	91,891,000	93,414,000

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Aug. 02, 2015	Aug. 03, 2014
Cash flows from operating activities:
Net earnings	$ 98,458,000	$ 96,909,000
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization	83,233,000	79,332,000
Loss on disposal/impairment of assets	2,074,000	952,000
Amortization of deferred lease incentives	(12,075,000)	(12,483,000)
Deferred income taxes	(8,533,000)	(8,326,000)
Tax benefit related to stock-based awards	25,917,000	46,174,000
Excess tax benefit related to stock-based awards	(11,807,000)	(22,911,000)
Stock-based compensation expense	24,913,000	22,191,000
Other	69,000	305,000
Changes in:
Accounts receivable	(14,854,000)	(4,227,000)
Merchandise inventories	(144,934,000)	(80,158,000)
Prepaid catalog expenses	(4,146,000)	(5,516,000)
Prepaid expenses and other assets	(19,708,000)	(18,043,000)
Accounts payable	15,625,000	(60,527,000)
Accrued salaries, benefits and other current and long-term liabilities	(30,835,000)	(28,981,000)
Customer deposits	27,243,000	22,767,000
Deferred rent and lease incentives	24,034,000	17,516,000
Income taxes payable	(17,869,000)	(34,757,000)
Net cash provided by operating activities	36,805,000	10,217,000
Cash flows from investing activities:
Purchases of property and equipment	(86,849,000)	(83,519,000)
Restricted cash receipts	0	14,289,000
Other	278,000	282,000
Net cash used in investing activities	(86,571,000)	(68,948,000)
Cash flows from financing activities:
Borrowings under revolving line of credit	150,000,000	0
Repurchase of common stock	(125,000,000)	(112,054,000)
Payment of dividends	(64,044,000)	(63,996,000)
Tax withholdings related to stock-based awards	(27,175,000)	(49,434,000)
Excess tax benefit related to stock-based awards	11,807,000	22,911,000
Net proceeds related to stock-based awards	2,647,000	3,471,000
Repayments of long-term obligations	(1,968,000)	(1,785,000)
Other	0	(6,000)
Net cash used in financing activities	(53,733,000)	(200,893,000)
Effect of exchange rates on cash and cash equivalents	348,000	77,000
Net decrease in cash and cash equivalents	(103,151,000)	(259,547,000)
Cash and cash equivalents at beginning of period	222,927,000	330,121,000
Cash and cash equivalents at end of period	$ 119,776,000	$ 70,574,000

FINANCIAL STATEMENTS - BASIS OF

FINANCIAL STATEMENTS - BASIS OF PRESENTATION	6 Months Ended
	Aug. 02, 2015
FINANCIAL STATEMENTS - BASIS OF PRESENTATION	NOTE A. FINANCIAL STATEMENTS - BASIS OF PRESENTATION These financial statements include Williams-Sonoma, Inc. and its wholly owned subsidiaries (“we,” “us” or “our”). The Condensed Consolidated Balance Sheets as of August 2, 2015 and August 3, 2014, the Condensed Consolidated Statements of Earnings and the Condensed Consolidated Statements of Comprehensive Income for the thirteen and twenty-six weeks then ended, and the Condensed Consolidated Statements of Cash Flows for the twenty-six weeks then ended, have been prepared by us, without audit. In our opinion, the financial statements include all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position at the balance sheet dates and the results of operations for the thirteen and twenty-six weeks then ended. Intercompany transactions and accounts have been eliminated. The balance sheet as of February 1, 2015, presented herein, has been derived from our audited Consolidated Balance Sheet included in our Annual Report on Form 10-K for the fiscal year ended February 1, 2015. The results of operations for the thirteen and twenty-six weeks ended August 2, 2015 are not necessarily indicative of the operating results of the full year. Certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been omitted. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended February 1, 2015. New Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Aug. 02, 2015
STOCK-BASED COMPENSATION	NOTE B. STOCK-BASED COMPENSATION Equity Award Programs On May 29, 2015, our shareholders approved an amendment and restatement of our Amended and Restated 2001 Long-Term Incentive Plan (the “Plan”) to, among other things, increase the shares issuable under the Plan by 6,550,000 shares and extend the term to 2025. The Plan provides for grants of incentive stock options, nonqualified stock options, stock-settled stock appreciation rights (collectively, “option awards”), restricted stock awards, restricted stock units (including those that are performance-based), deferred stock awards (collectively, “stock awards”) and dividend equivalents up to an aggregate of 32,310,000 shares. As of August 2, 2015, there were approximately 9,348,000 shares available for future grant under the Plan. Awards may be granted under the Plan to officers, employees and non-employee members of our board of directors (the “Board”) or any parent or subsidiary. Shares issued as a result of award exercises or releases are primarily funded with the issuance of new shares. Option Awards Annual grants of option awards are limited to 1,000,000 shares on a per person basis and have a maximum term of seven years. The exercise price of these option awards is not less than 100% of the closing price of our stock on the day prior to the grant date. Option awards granted to employees generally vest over a period of four years for service-based awards. Certain option awards contain vesting acceleration clauses resulting from events including, but not limited to, retirement, merger or a similar corporate event. Stock Awards Annual grants of stock awards are limited to 1,000,000 shares on a per person basis. Stock awards granted to employees generally vest evenly over a period of four years for service-based awards. Certain performance-based awards, which have variable payout conditions based on predetermined financial targets, vest three years from the date of grant. Certain stock awards and other agreements contain vesting acceleration clauses resulting from events including, but not limited to, retirement, merger or a similar corporate event. Stock awards granted to non-employee Board members generally vest in one year. Non-employee Board members automatically receive stock awards on the date of their initial election to the Board and annually thereafter on the date of the annual meeting of stockholders (so long as they continue to serve as a non-employee Board member). Stock-Based Compensation Expense We measure and record stock-based compensation expense for all employee stock-based awards using a fair value method. During the thirteen and twenty-six weeks ended August 2, 2015, we recognized total stock-based compensation expense, as a component of selling, general and administrative expenses, of $10,903,000 and $24,913,000, respectively. During the thirteen and twenty-six weeks ended August 3, 2014, we recognized total stock-based compensation expense of $9,823,000 and $22,191,000, respectively. Stock Options The following table summarizes our stock option activity during the twenty-six weeks ended August 2, 2015: Shares Balance at February 1, 2015 107,000 Granted 0 Exercised (68,500 ) Cancelled 0 Balance at August 2, 2015 (100% vested) 38,500 Stock-Settled Stock Appreciation Rights The following table summarizes our stock-settled stock appreciation right activity during the twenty-six weeks ended August 2, 2015: Shares Balance at February 1, 2015 1,159,948 Granted 0 Converted into common stock (413,910 ) Cancelled (3,346 ) Balance at August 2, 2015 742,692 Vested at August 2, 2015 726,585 Vested plus expected to vest at August 2, 2015 737,297 Restricted Stock Units The following table summarizes our restricted stock unit activity during the twenty-six weeks ended August 2, 2015: Shares Balance at February 1, 2015 2,313,477 Granted 760,801 Released (579,683 ) Cancelled (79,632 ) Balance at August 2, 2015 2,414,963 Vested plus expected to vest at August 2, 2015 1,677,709

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Aug. 02, 2015
EARNINGS PER SHARE	NOTE C. EARNINGS PER SHARE Basic earnings per share is computed as net earnings divided by the weighted average number of common shares outstanding for the period. Diluted earnings per share is computed as net earnings divided by the weighted average number of common shares outstanding and common stock equivalents for the period. Common stock equivalents consist of shares subject to stock-based awards with exercise prices less than or equal to the average market price of our common stock for the period, to the extent their inclusion would be dilutive. The following is a reconciliation of net earnings and the number of shares used in the basic and diluted earnings per share computations: In thousands, except per share amounts Net Earnings Weighted Earnings Thirteen weeks ended August 2, 2015 Basic $ 53,668 91,243 $ 0.59 Effect of dilutive stock-based awards 1,321 Diluted $ 53,668 92,564 $ 0.58 Thirteen weeks ended August 3, 2014 Basic $ 50,747 93,979 $ 0.54 Effect of dilutive stock-based awards 1,860 Diluted $ 50,747 95,839 $ 0.53 Twenty-six weeks ended August 2, 2015 Basic $ 98,458 91,475 $ 1.08 Effect of dilutive stock-based awards 1,494 Diluted $ 98,458 92,969 $ 1.06 Twenty-six weeks ended August 3, 2014 Basic $ 96,909 94,010 $ 1.03 Effect of dilutive stock-based awards 1,704 Diluted $ 96,909 95,714 $ 1.01 There were no stock-based awards excluded from the computation of diluted earnings per share for the thirteen or twenty-six weeks ended August 2, 2015 and August 3, 2014.

SEGMENT REPORTING

SEGMENT REPORTING	6 Months Ended
	Aug. 02, 2015
SEGMENT REPORTING	NOTE D. SEGMENT REPORTING We have two reportable segments, e-commerce and retail. The e-commerce segment has the following merchandising strategies: Williams-Sonoma, Pottery Barn, Pottery Barn Kids, West Elm, PBteen, Williams-Sonoma Home, Rejuvenation and Mark and Graham, which sell our products through our e-commerce websites and direct-mail catalogs. Our e-commerce merchandising strategies are operating segments, which have been aggregated into one reportable segment, e-commerce. The retail segment has the following merchandising strategies: Williams-Sonoma, Pottery Barn, Pottery Barn Kids, West Elm and Rejuvenation, which sell our products through our retail stores. Our retail merchandising strategies are operating segments, which have been aggregated into one reportable segment, retail. Our operating segments have had similar historical economic characteristics and it is management’s expectation that the operating segments will have similar long-term financial performance in the future. These reportable segments are strategic business units that offer similar home-centered products. They are managed separately because the business units utilize two distinct distribution and marketing strategies. Based on management’s best estimate, our operating segments include allocations of certain expenses, including advertising and employment costs, to the extent they have been determined to benefit both channels. These operating segments are aggregated at the channel level for reporting purposes due to the fact that our brands are interdependent for economies of scale and we do not maintain fully allocated income statements at the brand level. As a result, material financial decisions related to the brands are made at the channel level. Furthermore, it is not practicable for us to report revenue by product group. We use operating income to evaluate segment profitability. Operating income is defined as earnings (loss) before net interest income or expense and income taxes. Unallocated costs before interest and income taxes include employee-related costs, occupancy expenses (including depreciation expense), administrative costs and third party service costs, primarily in our corporate departments. Unallocated assets include corporate cash and cash equivalents, deferred income taxes, the net book value of corporate facilities and related information systems, and other corporate long-lived assets. Income tax information by reportable segment has not been included as income taxes are calculated at a company-wide level and are not allocated to each reportable segment. Segment Information In thousands E-commerce Retail Unallocated Total Thirteen weeks ended August 2, 2015 Net revenues 1 $ 569,913 $ 557,115 $ 0 $ 1,127,028 Depreciation and amortization expense 8,198 20,403 13,154 41,755 Operating income (loss) 122,461 40,503 (79,621 ) 83,343 Capital expenditures 4,582 23,265 18,618 46,465 Thirteen weeks ended August 3, 2014 Net revenues 1 $ 522,589 $ 516,513 $ 0 $ 1,039,102 Depreciation and amortization expense 7,730 20,358 12,614 40,702 Operating income (loss) 120,612 37,058 (72,334 ) 85,336 Capital expenditures 13,398 19,548 12,454 45,400 Twenty-six weeks ended August 2, 2015 Net revenues 1 $ 1,102,486 $ 1,055,218 $ 0 $ 2,157,704 Depreciation and amortization expense 16,300 40,553 26,380 83,233 Operating income (loss) 250,035 68,629 (163,393 ) 155,271 Assets 2 658,803 1,101,441 635,727 2,395,971 Capital expenditures 8,518 43,193 35,138 86,849 Twenty-six weeks ended August 3, 2014 Net revenues 1 $ 1,013,878 $ 999,554 $ 0 $ 2,013,432 Depreciation and amortization expense 15,137 39,718 24,477 79,332 Operating income (loss) 241,748 67,254 (149,340 ) 159,662 Assets 2 588,234 974,474 600,840 2,163,548 Capital expenditures 22,875 34,248 26,396 83,519 1 Includes net revenues related to our foreign operations of approximately $66.9 million and $55.4 million for the thirteen weeks ended August 2, 2015 and August 3, 2014, respectively, and $121.7 million and $106.5 million for the twenty-six weeks ended August 2, 2015 and August 3, 2014, respectively. 2 Includes long-term assets related to our foreign operations of approximately $60.0 million and $62.2 million as of August 2, 2015 and August 3, 2014, respectively.

MEMPHIS-BASED DISTRIBUTION FACI

MEMPHIS-BASED DISTRIBUTION FACILITY	6 Months Ended
	Aug. 02, 2015
MEMPHIS-BASED DISTRIBUTION FACILITY	NOTE E. MEMPHIS-BASED DISTRIBUTION FACILITY Our Memphis-based distribution facility includes an operating lease entered into in August 1990 for a distribution facility in Memphis, Tennessee. The lessor is a general partnership comprised of the estate of W. Howard Lester, our former Chairman of the Board and Chief Executive Officer, and the estate of James A. McMahan, a former Director Emeritus and significant stockholder, and two unrelated parties. The partnership does not have operations separate from the leasing of this distribution facility and does not have lease agreements with any unrelated third parties. The terms of the lease automatically renewed until the bonds that financed the construction of the facility were fully repaid during the second quarter of 2015. Simultaneously, we entered into an agreement with the partnership to lease the facility through July 2017. Prior to August 2, 2015, the partnership described above qualified as a variable interest entity and was consolidated by us due to its related party relationship and our obligation to renew the lease until the bonds were fully repaid. Accordingly, as of August 2, 2015, this facility is no longer consolidated by us.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Aug. 02, 2015
COMMITMENTS AND CONTINGENCIES	NOTE F. COMMITMENTS AND CONTINGENCIES We are involved in lawsuits, claims and proceedings incident to the ordinary course of our business. These disputes, which are not currently material, are increasing in number as our business expands and our company grows larger. We review the need for any loss contingency reserves and establish reserves when, in the opinion of management, it is probable that a matter would result in liability, and the amount of loss, if any, can be reasonably estimated. In view of the inherent difficulty of predicting the outcome of these matters, it may not be possible to determine whether any loss is probable or to reasonably estimate the amount of the loss until the case is close to resolution, in which case no reserve is established until that time. Any claims against us, whether meritorious or not, could be time consuming, result in costly litigation, require significant amounts of management time and result in the diversion of significant operational resources. The results of these lawsuits, claims and proceedings cannot be predicted with certainty. However, we believe that the ultimate resolution of these current matters will not have a material adverse effect on our consolidated financial statements taken as a whole.

STOCK REPURCHASE PROGRAM AND DI

STOCK REPURCHASE PROGRAM AND DIVIDEND	6 Months Ended
	Aug. 02, 2015
STOCK REPURCHASE PROGRAM AND DIVIDEND	NOTE G. STOCK REPURCHASE PROGRAM AND DIVIDEND Stock Repurchase Program During the thirteen weeks ended August 2, 2015, we repurchased 899,301 shares of our common stock at an average cost of $80.55 per share for a total cost of approximately $72,438,000. During the twenty-six weeks ended August 2, 2015, we repurchased 1,563,703 shares of our common stock at an average cost of $79.94 per share for a total cost of approximately $125,000,000. As of August 2, 2015, we held treasury stock of $1,936,000 which represents the cost of shares available for re-issuance to satisfy future stock-based award settlements in certain foreign jurisdictions. During the thirteen weeks ended August 3, 2014, we repurchased 847,946 shares of our common stock at an average cost of $69.28 per share for a total cost of approximately $58,745,000. During the twenty-six weeks ended August 3, 2014, we repurchased 1,688,707 shares of our common stock at an average cost of $66.35 per share for a total cost of approximately $112,054,000. Stock repurchases under this program may be made through open market and privately negotiated transactions at times and in such amounts as management deems appropriate. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements, capital availability and other market conditions. This stock repurchase program does not have an expiration date and may be limited or terminated at any time without prior notice. Dividend We declared cash dividends of $0.35 and $0.33 per common share during the thirteen weeks ended August 2, 2015 and August 3, 2014, respectively. We declared cash dividends of $0.70 and $0.66 per common share during the twenty-six weeks ended August 2, 2015 and August 3, 2014, respectively.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	6 Months Ended
	Aug. 02, 2015
DERIVATIVE FINANCIAL INSTRUMENTS	NOTE H. DERIVATIVE FINANCIAL INSTRUMENTS We have retail and/or e-commerce businesses in Canada, Australia and the United Kingdom, and operations throughout Asia and Europe, which expose us to market risk associated with foreign currency exchange rate fluctuations. Substantially all of our purchases and sales are denominated in U.S. dollars, which limits our exposure to this risk. While the impact of foreign currency exchange rate fluctuations was not significant to us in the second quarter of fiscal 2015, we continue to see volatility in the exchange rates in the countries in which we do business. As we continue to expand globally, the foreign currency exchange risk related to the transactions of our foreign subsidiaries may increase. To mitigate this risk, we hedge a portion of our foreign currency exposure with foreign currency forward contracts in accordance with our risk management policies. We do not enter into such contracts for speculative purposes. The assets or liabilities associated with the derivative instruments are measured at fair value and recorded in either other current assets or other current liabilities. As discussed below, the accounting for gains and losses resulting from changes in fair value depends on whether the derivative instrument is designated as a hedge and qualifies for hedge accounting in accordance with the Financial Accounting Standards Board Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging Cash Flow Hedges We enter into foreign currency forward contracts designated as cash flow hedges for forecasted inventory purchases in U.S. dollars by our foreign subsidiaries. These hedges generally have terms of up to 12 months. All hedging relationships are formally documented, and the forward contracts are designed to mitigate foreign currency exchange risk on hedged transactions. We record the effective portion of changes in the fair value of our cash flow hedges in other comprehensive income (“OCI”) until the earlier of when the hedged forecasted inventory purchase occurs or the respective contract reaches maturity. Subsequently, as the inventory is sold to the customer, we reclassify amounts previously recorded in OCI to cost of goods sold. Changes in the fair value of the forward contract related to interest charges or “forward points” are excluded from the assessment and measurement of hedge effectiveness and are recorded immediately in other income (expense), net within selling, general and administrative expenses. Based on the rates in effect as of August 2, 2015, we expect to reclassify a net pre-tax gain of approximately $981,000 from OCI to cost of goods sold over the next 12 months. We also enter into non-designated foreign currency forward contracts to reduce the exchange risk associated with our assets and liabilities denominated in a foreign currency. Any foreign exchange gains (losses) related to these contracts are recognized in other income (expense), net. As of August 2, 2015, and August 3, 2014, we had foreign currency forward contracts outstanding (in U.S. dollars) as follows: In thousands August 2, 2015 August 3, 2014 Contracts to sell Canadian dollars and buy U.S. dollars Contracts designated as cash flow hedges $ 12,500 $ 24,400 Contracts not designated as cash flow hedges 1 $ 0 $ 0 Contracts to sell Australian dollars and buy U.S. dollars Contracts not designated as cash flow hedges $ 35,000 $ 10,410 1 These contracts are no longer designated as cash flow hedges as the related inventory purchases have occurred. Hedge effectiveness is evaluated prospectively at inception, on an ongoing basis, as well as retrospectively using regression analysis. Any measureable ineffectiveness of the hedge is recorded in other income (expense), net. No gain or loss was recognized for cash flow hedges due to hedge ineffectiveness and all hedges were deemed effective for assessment purposes for the thirteen and twenty-six weeks ended August 2, 2015 and August 3, 2014. The effect of derivative instruments in our Condensed Consolidated Financial Statements, pre-tax, was as follows: In thousands Thirteen Thirteen Weeks Ended August 3, 2014 Twenty-Six Twenty-Six Weeks Ended August 3, 2014 Net gain (loss) recognized in OCI $ 1,084 $ 22 $ 571 $ (202 ) Net gain reclassified from OCI into cost of goods sold $ 643 $ 287 $ 911 $ 520 Net foreign exchange gain (loss) recognized in other income (expense): Instruments designated as cash flow hedges 1 $ (26 ) $ (53 ) $ (42 ) $ (87 ) Instruments not designated or de-designated 2 $ 2,023 $ 36 $ 2,405 $ 620 1 Changes in fair value of the forward contract related to interest charges or “forward points.” 2 Changes in fair value subsequent to de-designation for instruments no longer designated as cash flow hedges, and changes in fair value related to instruments not designated as cash flow hedges. The fair values of our derivative financial instruments are presented below. All fair values for these derivatives were measured using Level 2 inputs as defined by the fair value hierarchy described in Note I. In thousands Balance sheet location August 2, 2015 August 3, 2014 Derivatives designated as hedging instruments: Cash flow hedge foreign currency forward contracts Other current assets $ 610 $ 150 Cash flow hedge foreign currency forward contracts Other current liabilities 0 (198 ) Total, net $ 610 $ (48 ) Derivatives not designated as hedging instruments: Foreign currency forward contracts Other current assets $ 79 $ 0 Foreign currency forward contracts Other current liabilities 0 $ (16 ) Total, net $ 79 $ (16 ) We record all derivative assets and liabilities on a gross basis. They do not meet the balance sheet netting criteria as discussed in ASC 210, Balance Sheet

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Aug. 02, 2015
FAIR VALUE MEASUREMENTS	NOTE I. FAIR VALUE MEASUREMENTS Fair value is the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. We determine the fair value of financial and non-financial assets and liabilities using the fair value hierarchy established by ASC 820, Fair Value Measurement • Level 1: inputs which include quoted prices in active markets for identical assets or liabilities; • Level 2: inputs which include observable inputs other than Level 1 inputs, such as quoted prices in active markets for similar assets or liabilities; quoted prices for identical or similar assets or liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability; and • Level 3: inputs which include unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the underlying asset or liability. The fair values of our cash and cash equivalents are based on Level 1 inputs, which include quoted prices in active markets for identical assets. Foreign Currency Derivatives and Hedging Instruments We use the income approach to value our derivatives using observable Level 2 market data at the measurement date and standard valuation techniques to convert future amounts to a single present value amount, assuming that participants are motivated but not compelled to transact. Level 2 inputs are limited to quoted prices that are observable for the assets and liabilities, which include interest rates and credit risk ratings. We use mid-market pricing as a practical expedient for fair value measurements. Key inputs for currency derivatives are the spot rates, forward rates, interest rates and credit derivative market rates. The counterparties associated with our foreign currency forward contracts are large credit-worthy financial institutions, and the derivatives transacted with these entities are relatively short in duration, therefore, we do not consider counterparty concentration and non-performance to be material risks at this time. Both we and our counterparties are expected to perform under the contractual terms of the instruments. None of the derivative contracts entered into are subject to credit risk-related contingent features or collateral requirements. There were no transfers between Level 1 and Level 2 categories during the thirteen and twenty-six weeks ended August 2, 2015.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME	6 Months Ended
	Aug. 02, 2015
ACCUMULATED OTHER COMPREHENSIVE INCOME	NOTE J. ACCUMULATED OTHER COMPREHENSIVE INCOME Changes in accumulated other comprehensive income by component, net of tax, are as follows: In thousands Foreign Currency Cash Flow Accumulated Other Balance at February 1, 2015 $ (3,522 ) $ 974 $ (2,548 ) Foreign currency translation adjustments 867 0 867 Change in fair value of derivative instruments 0 (379 ) (379 ) Reclassification adjustment for realized gains on derivative financial instruments 1 0 (198 ) (198 ) Other comprehensive income (loss) 867 (577 ) 290 Balance at May 3, 2015 (2,655 ) 397 (2,257 ) Foreign currency translation adjustments (3,694 ) 0 (3,694 ) Change in fair value of derivative instruments 0 800 800 Reclassification adjustment for realized gains on derivative financial instruments 1 0 (474 ) (474 ) Other comprehensive income (loss) (3,694 ) 326 (3,368 ) Balance at August 2, 2015 $ (6,349 ) $ 723 $ (5,625 ) Balance at February 2, 2014 $ 5,783 $ 741 $ 6,524 Foreign currency translation adjustments 1,398 0 1,398 Change in fair value of derivative instruments 0 (298 ) (298 ) Reclassification adjustment for realized gains on derivative financial instruments 1 0 (233 ) (233 ) Other comprehensive income (loss) 1,398 (531 ) 867 Balance at May 4, 2014 7,181 210 7,391 Foreign currency translation adjustments 545 0 545 Change in fair value of derivative instruments 0 91 91 Reclassification adjustment for realized gains on derivative financial instruments 1 0 (287 ) (287 ) Other comprehensive income (loss) 545 (196 ) 349 Balance at August 3, 2014 $ 7,726 $ 14 $ 7,741 1 Refer to Note H for additional disclosures about reclassifications out of accumulated other comprehensive income and their corresponding effects on the respective line items in the Condensed Consolidated Statements of Earnings.

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Aug. 02, 2015
Summary of Stock Options Activity	The following table summarizes our stock option activity during the twenty-six weeks ended August 2, 2015: Shares Balance at February 1, 2015 107,000 Granted 0 Exercised (68,500 ) Cancelled 0 Balance at August 2, 2015 (100% vested) 38,500
Summary of Stock-Settled Stock Appreciation Rights Activity	The following table summarizes our stock-settled stock appreciation right activity during the twenty-six weeks ended August 2, 2015: Shares Balance at February 1, 2015 1,159,948 Granted 0 Converted into common stock (413,910 ) Cancelled (3,346 ) Balance at August 2, 2015 742,692 Vested at August 2, 2015 726,585 Vested plus expected to vest at August 2, 2015 737,297
Summary of Restricted Stock Units Activity	The following table summarizes our restricted stock unit activity during the twenty-six weeks ended August 2, 2015: Shares Balance at February 1, 2015 2,313,477 Granted 760,801 Released (579,683 ) Cancelled (79,632 ) Balance at August 2, 2015 2,414,963 Vested plus expected to vest at August 2, 2015 1,677,709

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Aug. 02, 2015
Reconciliation of Net Earnings and Number of Shares Used In Basic and Diluted Earnings per Share Computations	The following is a reconciliation of net earnings and the number of shares used in the basic and diluted earnings per share computations: In thousands, except per share amounts Net Earnings Weighted Earnings Thirteen weeks ended August 2, 2015 Basic $ 53,668 91,243 $ 0.59 Effect of dilutive stock-based awards 1,321 Diluted $ 53,668 92,564 $ 0.58 Thirteen weeks ended August 3, 2014 Basic $ 50,747 93,979 $ 0.54 Effect of dilutive stock-based awards 1,860 Diluted $ 50,747 95,839 $ 0.53 Twenty-six weeks ended August 2, 2015 Basic $ 98,458 91,475 $ 1.08 Effect of dilutive stock-based awards 1,494 Diluted $ 98,458 92,969 $ 1.06 Twenty-six weeks ended August 3, 2014 Basic $ 96,909 94,010 $ 1.03 Effect of dilutive stock-based awards 1,704 Diluted $ 96,909 95,714 $ 1.01

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	6 Months Ended
	Aug. 02, 2015
Segment Information	Segment Information In thousands E-commerce Retail Unallocated Total Thirteen weeks ended August 2, 2015 Net revenues 1 $ 569,913 $ 557,115 $ 0 $ 1,127,028 Depreciation and amortization expense 8,198 20,403 13,154 41,755 Operating income (loss) 122,461 40,503 (79,621 ) 83,343 Capital expenditures 4,582 23,265 18,618 46,465 Thirteen weeks ended August 3, 2014 Net revenues 1 $ 522,589 $ 516,513 $ 0 $ 1,039,102 Depreciation and amortization expense 7,730 20,358 12,614 40,702 Operating income (loss) 120,612 37,058 (72,334 ) 85,336 Capital expenditures 13,398 19,548 12,454 45,400 Twenty-six weeks ended August 2, 2015 Net revenues 1 $ 1,102,486 $ 1,055,218 $ 0 $ 2,157,704 Depreciation and amortization expense 16,300 40,553 26,380 83,233 Operating income (loss) 250,035 68,629 (163,393 ) 155,271 Assets 2 658,803 1,101,441 635,727 2,395,971 Capital expenditures 8,518 43,193 35,138 86,849 Twenty-six weeks ended August 3, 2014 Net revenues 1 $ 1,013,878 $ 999,554 $ 0 $ 2,013,432 Depreciation and amortization expense 15,137 39,718 24,477 79,332 Operating income (loss) 241,748 67,254 (149,340 ) 159,662 Assets 2 588,234 974,474 600,840 2,163,548 Capital expenditures 22,875 34,248 26,396 83,519 1 Includes net revenues related to our foreign operations of approximately $66.9 million and $55.4 million for the thirteen weeks ended August 2, 2015 and August 3, 2014, respectively, and $121.7 million and $106.5 million for the twenty-six weeks ended August 2, 2015 and August 3, 2014, respectively. 2 Includes long-term assets related to our foreign operations of approximately $60.0 million and $62.2 million as of August 2, 2015 and August 3, 2014, respectively.

DERIVATIVE FINANCIAL INSTRUME20

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Aug. 02, 2015
Foreign Currency Forward Contracts Outstanding	As of August 2, 2015, and August 3, 2014, we had foreign currency forward contracts outstanding (in U.S. dollars) as follows: In thousands August 2, 2015 August 3, 2014 Contracts to sell Canadian dollars and buy U.S. dollars Contracts designated as cash flow hedges $ 12,500 $ 24,400 Contracts not designated as cash flow hedges 1 $ 0 $ 0 Contracts to sell Australian dollars and buy U.S. dollars Contracts not designated as cash flow hedges $ 35,000 $ 10,410 1 These contracts are no longer designated as cash flow hedges as the related inventory purchases have occurred.
Effect of Derivative Instruments in Consolidated Financial Statements	The effect of derivative instruments in our Condensed Consolidated Financial Statements, pre-tax, was as follows: In thousands Thirteen Thirteen Weeks Ended August 3, 2014 Twenty-Six Twenty-Six Weeks Ended August 3, 2014 Net gain (loss) recognized in OCI $ 1,084 $ 22 $ 571 $ (202 ) Net gain reclassified from OCI into cost of goods sold $ 643 $ 287 $ 911 $ 520 Net foreign exchange gain (loss) recognized in other income (expense): Instruments designated as cash flow hedges 1 $ (26 ) $ (53 ) $ (42 ) $ (87 ) Instruments not designated or de-designated 2 $ 2,023 $ 36 $ 2,405 $ 620 1 Changes in fair value of the forward contract related to interest charges or “forward points.” 2 Changes in fair value subsequent to de-designation for instruments no longer designated as cash flow hedges, and changes in fair value related to instruments not designated as cash flow hedges.
Fair Values of Derivative Instruments	The fair values of our derivative financial instruments are presented below. All fair values for these derivatives were measured using Level 2 inputs as defined by the fair value hierarchy described in Note I. In thousands Balance sheet location August 2, 2015 August 3, 2014 Derivatives designated as hedging instruments: Cash flow hedge foreign currency forward contracts Other current assets $ 610 $ 150 Cash flow hedge foreign currency forward contracts Other current liabilities 0 (198 ) Total, net $ 610 $ (48 ) Derivatives not designated as hedging instruments: Foreign currency forward contracts Other current assets $ 79 $ 0 Foreign currency forward contracts Other current liabilities 0 $ (16 ) Total, net $ 79 $ (16 )

ACCUMULATED OTHER COMPREHENSI21

ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	6 Months Ended
	Aug. 02, 2015
Changes in Accumulated Other Comprehensive Income by Component, Net of Tax	Changes in accumulated other comprehensive income by component, net of tax, are as follows: In thousands Foreign Currency Cash Flow Accumulated Other Balance at February 1, 2015 $ (3,522 ) $ 974 $ (2,548 ) Foreign currency translation adjustments 867 0 867 Change in fair value of derivative instruments 0 (379 ) (379 ) Reclassification adjustment for realized gains on derivative financial instruments 1 0 (198 ) (198 ) Other comprehensive income (loss) 867 (577 ) 290 Balance at May 3, 2015 (2,655 ) 397 (2,257 ) Foreign currency translation adjustments (3,694 ) 0 (3,694 ) Change in fair value of derivative instruments 0 800 800 Reclassification adjustment for realized gains on derivative financial instruments 1 0 (474 ) (474 ) Other comprehensive income (loss) (3,694 ) 326 (3,368 ) Balance at August 2, 2015 $ (6,349 ) $ 723 $ (5,625 ) Balance at February 2, 2014 $ 5,783 $ 741 $ 6,524 Foreign currency translation adjustments 1,398 0 1,398 Change in fair value of derivative instruments 0 (298 ) (298 ) Reclassification adjustment for realized gains on derivative financial instruments 1 0 (233 ) (233 ) Other comprehensive income (loss) 1,398 (531 ) 867 Balance at May 4, 2014 7,181 210 7,391 Foreign currency translation adjustments 545 0 545 Change in fair value of derivative instruments 0 91 91 Reclassification adjustment for realized gains on derivative financial instruments 1 0 (287 ) (287 ) Other comprehensive income (loss) 545 (196 ) 349 Balance at August 3, 2014 $ 7,726 $ 14 $ 7,741 1 Refer to Note H for additional disclosures about reclassifications out of accumulated other comprehensive income and their corresponding effects on the respective line items in the Condensed Consolidated Statements of Earnings.

Stock-based Compensation - Addi

Stock-based Compensation - Additional Information (Detail) - USD ($)	May. 29, 2015	Aug. 02, 2015	Aug. 03, 2014	Aug. 02, 2015	Aug. 03, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum term of grants of option awards, years				7 years
Stock-based compensation expense		$ 10,903,000	$ 9,823,000	$ 24,913,000	$ 22,191,000
Minimum | Non-Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of awards granted to employees, years				1 year
Equity Award Programs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares increased for issuance	6,550,000
Extended term of plan	2,025
Aggregate number of shares under the Plan		32,310,000		32,310,000
Shares available for future grant		9,348,000		9,348,000
Option Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards annual grant limit				1,000,000
Option Awards | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price as a percentage of closing price on the day prior to the grant date				100.00%
Service Based Option Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of awards granted to employees, years				4 years
Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards annual grant limit				1,000,000
Service Based Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of awards granted to employees, years				4 years
Performance Based Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of awards granted to employees, years				3 years

Summary of Stock Option Activit

Summary of Stock Option Activity (Detail)	6 Months Ended
	Aug. 02, 2015shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Balance at February 1, 2015, shares	107,000
Granted, shares	0
Exercised, shares	(68,500)
Cancelled, shares	0
Balance at August 2, 2015 shares	38,500

Summary of Stock Option Activ24

Summary of Stock Option Activity (Parenthetical) (Detail)	6 Months Ended
	Aug. 02, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested percentage	100.00%

Summary of Stock-Settled Stock

Summary of Stock-Settled Stock Appreciation Right Activity (Detail) - Aug. 02, 2015 - Stock-Settled Stock Appreciation Rights - shares	Total
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Balance at February 1, 2015 shares	1,159,948
Granted, shares	0
Converted into common stock, shares	(413,910)
Cancelled, shares	(3,346)
Balance at August 2, 2015 shares	742,692
Vested at August 2, 2015 shares	726,585
Vested plus expected to vest at August 2, 2015 shares	737,297

Summary of Restricted Stock Uni

Summary of Restricted Stock Unit Activity (Detail) - Aug. 02, 2015 - Restricted Stock Units (RSUs) - shares	Total
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Balance at February 1, 2015 shares	2,313,477
Granted, shares	760,801
Released, shares	(579,683)
Cancelled, shares	(79,632)
Balance at August 2, 2015 shares	2,414,963
Vested plus expected to vest at August 2, 2015 shares	1,677,709

Reconciliation of Net Earnings

Reconciliation of Net Earnings and Number of Shares Used in Basic and Diluted Earnings Per Share Computations (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 02, 2015	Aug. 03, 2014	Aug. 02, 2015	Aug. 03, 2014
Earnings Per Share [Line Items]
Net Earnings, Basic	$ 53,668	$ 50,747	$ 98,458	$ 96,909
Net Earnings, Diluted	$ 53,668	$ 50,747	$ 98,458	$ 96,909
Weighted Average Shares, Basic	91,243	93,979	91,475	94,010
Weighted Average Shares, Effect of dilutive stock-based awards	1,321	1,860	1,494	1,704
Weighted Average Shares, Diluted	92,564	95,839	92,969	95,714
Earnings Per Share, Basic	$ 0.59	$ 0.54	$ 1.08	$ 1.03
Earnings Per Share, Diluted	$ 0.58	$ 0.53	$ 1.06	$ 1.01

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Aug. 02, 2015	Aug. 03, 2014	Aug. 02, 2015	Aug. 03, 2014
Earnings Per Share [Line Items]
Anti-dilutive stock-based awards excluded from the computation of diluted earnings per share	0	0	0	0

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail)	6 Months Ended
	Aug. 02, 2015Segment
Segment Reporting Information [Line Items]
Number of reportable segments	2

Segment Information (Detail)

Segment Information (Detail) - USD ($) $ in Thousands		3 Months Ended				6 Months Ended
		Aug. 02, 2015		Aug. 03, 2014		Aug. 02, 2015		Aug. 03, 2014		Feb. 01, 2015
Segment Reporting Information [Line Items]
Net revenues	[1]	$ 1,127,028		$ 1,039,102		$ 2,157,704		$ 2,013,432
Depreciation and amortization expense		41,755		40,702		83,233		79,332
Operating income (loss)		83,343		85,336		155,271		159,662
Capital expenditures		46,465		45,400		86,849		83,519
Assets		2,395,971	[2]	2,163,548	[2]	2,395,971	[2]	2,163,548	[2]	$ 2,330,277
Operating Segments | E-commerce
Segment Reporting Information [Line Items]
Net revenues	[1]	569,913		522,589		1,102,486		1,013,878
Depreciation and amortization expense		8,198		7,730		16,300		15,137
Operating income (loss)		122,461		120,612		250,035		241,748
Capital expenditures		4,582		13,398		8,518		22,875
Assets	[2]	658,803		588,234		658,803		588,234
Operating Segments | Retail
Segment Reporting Information [Line Items]
Net revenues	[1]	557,115		516,513		1,055,218		999,554
Depreciation and amortization expense		20,403		20,358		40,553		39,718
Operating income (loss)		40,503		37,058		68,629		67,254
Capital expenditures		23,265		19,548		43,193		34,248
Assets	[2]	1,101,441		974,474		1,101,441		974,474
Unallocated
Segment Reporting Information [Line Items]
Net revenues	[1]	0		0		0		0
Depreciation and amortization expense		13,154		12,614		26,380		24,477
Operating income (loss)		(79,621)		(72,334)		(163,393)		(149,340)
Capital expenditures		18,618		12,454		35,138		26,396
Assets	[2]	$ 635,727		$ 600,840		$ 635,727		$ 600,840
[1]	Includes net revenues related to our foreign operations of approximately $66.9 million and $55.4 million for the thirteen weeks ended August 2, 2015 and August 3, 2014, respectively, and $121.7 million and $106.5 million for the twenty-six weeks ended August 2, 2015 and August 3, 2014, respectively.
[2]	Includes long-term assets related to our foreign operations of approximately $60.0 million and $62.2 million as of August 2, 2015 and August 3, 2014, respectively.

Segment Information (Parentheti

Segment Information (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 02, 2015	Aug. 03, 2014	Aug. 02, 2015	Aug. 03, 2014
Segment Reporting Information [Line Items]
Net revenues related to foreign operations	$ 66.9	$ 55.4	$ 121.7	$ 106.5
Long-term assets related to foreign operations	$ 60	$ 62.2	$ 60	$ 62.2

Memphis-Based Distribution Fa32

Memphis-Based Distribution Facility - Additional Information (Detail)	6 Months Ended
	Aug. 02, 2015
Variable Interest Entity [Line Items]
Lease expiration date	2017-07

Stock Repurchase Program and 33

Stock Repurchase Program and Dividend - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Aug. 02, 2015	Aug. 03, 2014	Aug. 02, 2015	Aug. 03, 2014	Feb. 01, 2015
Stock Repurchase Program and Dividend [Line Items]
Common stock repurchased, shares	899,301	847,946	1,563,703	1,688,707
Common stock repurchased, average cost per share	$ 80.55	$ 69.28	$ 79.94	$ 66.35
Common stock repurchased, total cost	$ 72,438,000	$ 58,745,000	$ 125,000,000	$ 112,054,000
Treasure stock, value	$ 1,936,000	$ 2,451,000	$ 1,936,000	$ 2,451,000	$ 2,140,000
Cash dividend, per common share	$ 0.35	$ 0.33	$ 0.70	$ 0.66

Derivative Financial Instrume34

Derivative Financial Instruments - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Aug. 02, 2015	Aug. 03, 2014	Aug. 02, 2015	Aug. 03, 2014
Derivative [Line Items]
Reclassification from OCI to cost of goods sold	$ 981,000		$ 981,000
Gain or loss recognized for cash flow hedges due to hedge ineffectiveness	$ 0	$ 0	$ 0	$ 0

Foreign Currency Forward Contra

Foreign Currency Forward Contracts Outstanding (Detail) - Foreign Exchange Contract - USD ($) $ in Thousands		Aug. 02, 2015	Aug. 03, 2014
Derivatives designated as hedging instruments | Cash Flow Hedging | Canada, Dollars
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Exchange of foreign currency contracts		$ 12,500	$ 24,400
Not Designated as Hedging Instrument | Canada, Dollars
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Exchange of foreign currency contracts	[1]	0	0
Not Designated as Hedging Instrument | Australia, Dollars
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Exchange of foreign currency contracts		$ 35,000	$ 10,410
[1]	These contracts are no longer designated as cash flow hedges as the related inventory purchases have occurred.

Effect of Derivative Instrument

Effect of Derivative Instruments in Condensed Consolidated Financial Statements (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Aug. 02, 2015	Aug. 03, 2014	Aug. 02, 2015	Aug. 03, 2014
Derivative [Line Items]
Net gain (loss) recognized in OCI		$ 1,084	$ 22	$ 571	$ (202)
Net gain reclassified from OCI into cost of goods sold		643	287	911	520
Net foreign exchange gain (loss) recognized in other income (expense), Instruments designated as cash flow hedges	[1]	(26)	(53)	(42)	(87)
Net foreign exchange gain (loss) recognized in other income (expense), Instruments not designated or de-designated	[2]	$ 2,023	$ 36	$ 2,405	$ 620
[1]	Changes in fair value of the forward contract related to interest charges or "forward points."
[2]	Changes in fair value subsequent to de-designation for instruments no longer designated as cash flow hedges, and changes in fair value related to instruments not designated as cash flow hedges.

Fair Value of Derivatives as De

Fair Value of Derivatives as Defined by Accounting Standard (Detail) - USD ($) $ in Thousands	Aug. 02, 2015	Aug. 03, 2014
Derivatives, Fair Value [Line Items]
Cash flow hedge foreign currency forward contracts - Other Current Assets	$ 610	$ 150
Cash flow hedge foreign currency forward contracts - Other Current Liabilities	0	(198)
Total, net	610	(48)
Foreign currency forward contracts - Other Current Assets	79	0
Foreign currency forward contracts - Other Current liabilities	0	(16)
Total, net	$ 79	$ (16)

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income by Component, Net of Tax (Detail) - USD ($) $ in Thousands		3 Months Ended				6 Months Ended
		Aug. 02, 2015	May. 03, 2015	Aug. 03, 2014	May. 04, 2014	Aug. 02, 2015	Aug. 03, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at February 1, 2015			$ (2,548)			$ (2,548)
Foreign currency translation adjustments		$ (3,694)		$ 545		(2,827)	$ 1,943
Change in fair value of derivative instruments		800		91		421	(207)
Reclassification adjustment for realized gains on derivative financial instruments		(474)		(287)		(672)	(520)
Balance at August 2, 2015		(5,625)		7,741		(5,625)	7,741
Accumulated Foreign Currency Adjustment Attributable to Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at February 1, 2015		(2,655)	(3,522)	7,181	$ 5,783	(3,522)	5,783
Foreign currency translation adjustments		(3,694)	867	545	1,398
Change in fair value of derivative instruments		0	0	0	0
Reclassification adjustment for realized gains on derivative financial instruments	[1]	0	0	0	0
Other comprehensive income (loss)		(3,694)	867	545	1,398
Balance at August 2, 2015		(6,349)	(2,655)	7,726	7,181	(6,349)	7,726
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at February 1, 2015		397	974	210	741	974	741
Foreign currency translation adjustments		0	0	0	0
Change in fair value of derivative instruments		800	(379)	91	(298)
Reclassification adjustment for realized gains on derivative financial instruments	[1]	(474)	(198)	(287)	(233)
Other comprehensive income (loss)		326	(577)	(196)	(531)
Balance at August 2, 2015		723	397	14	210	723	14
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at February 1, 2015		(2,257)	(2,548)	7,391	6,524	(2,548)	6,524
Foreign currency translation adjustments		(3,694)	867	545	1,398
Change in fair value of derivative instruments		800	(379)	91	(298)
Reclassification adjustment for realized gains on derivative financial instruments	[1]	(474)	(198)	(287)	(233)
Other comprehensive income (loss)		(3,368)	290	349	867
Balance at August 2, 2015		$ (5,625)	$ (2,257)	$ 7,741	$ 7,391	$ (5,625)	$ 7,741
[1]	Refer to Note H for additional disclosures about reclassifications out of accumulated other comprehensive income and their corresponding effects on the respective line items in the Condensed Consolidated Statements of Earnings.