Williams-Sonoma (WSM) 10-Q 8 Sep 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jul. 30, 2017	Aug. 27, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 30, 2017
Document Fiscal Year Focus	2,017
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	--01-29
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		85,103,703

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jul. 30, 2017	Jul. 31, 2016	Jul. 30, 2017		Jul. 31, 2016
Net revenues	[1]	$ 1,201,606	$ 1,159,029	$ 2,313,113		$ 2,256,846
Cost of goods sold		778,895	748,490	1,494,642		1,453,790
Gross profit		422,711	410,539	818,471		803,056
Selling, general and administrative expenses		341,127	327,263	674,413		656,255
Operating income		81,584	83,276	144,058	[2]	146,801	[2]
Interest (income) expense, net		483	167	380		99
Earnings before income taxes		81,101	83,109	143,678		146,702
Income taxes		28,184	31,324	51,206		55,320
Net earnings		$ 52,917	$ 51,785	$ 92,472		$ 91,382
Basic earnings per share		$ 0.61	$ 0.58	$ 1.07		$ 1.02
Diluted earnings per share		$ 0.61	$ 0.58	$ 1.06		$ 1.01
Shares used in calculation of earnings per share:
Basic		86,429	89,039	86,696		89,169
Diluted		86,848	89,736	87,238		90,098
E-commerce
Net revenues		$ 630,793	$ 599,683	$ 1,211,303		$ 1,175,917
Retail
Net revenues		$ 570,813	$ 559,346	$ 1,101,810		$ 1,080,929
[1]	Includes net revenues related to our international operations (including our operations in Canada, Australia, the United Kingdom and our franchise businesses) of approximately $80.6 million and $80.0 million for the thirteen weeks ended July 30, 2017 and July 31, 2016, respectively, and $150.0 million and $149.7 million for the twenty-six weeks ended July 30, 2017 and July 31, 2016, respectively.
[2]	Includes $5.7 million and $13.2 million of severance-related charges for the twenty-six weeks ended July 30, 2017 and July 31, 2016, respectively, primarily in our corporate functions, which is recorded in selling, general and administrative expenses within the unallocated segment.

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 30, 2017	Jul. 31, 2016	Jul. 30, 2017	Jul. 31, 2016
Net earnings	$ 52,917	$ 51,785	$ 92,472	$ 91,382
Other comprehensive income (loss):
Foreign currency translation adjustments	3,390	(3,005)	1,824	2,203
Change in fair value of derivative financial instruments, net of tax (tax benefit) of $(422), $376, $(185) and $(392)	(1,166)	1,058	(511)	(1,107)
Reclassification adjustment for realized (gain) loss on derivative financial instruments, net of tax (tax benefit) of $(2), $12, $3 and $119	7	(38)	(9)	(340)
Comprehensive income	$ 55,148	$ 49,800	$ 93,776	$ 92,138

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 30, 2017	Jul. 31, 2016	Jul. 30, 2017	Jul. 31, 2016
Change in fair value of derivative financial instruments, tax	$ (422)	$ 376	$ (185)	$ (392)
Reclassification adjustment for realized losses on derivative financial instruments, tax	$ (2)	$ 12	$ 3	$ 119

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 30, 2017		Jan. 29, 2017	Jul. 31, 2016
Current assets
Cash and cash equivalents	$ 103,109		$ 213,713	$ 111,122
Accounts receivable, net	78,735		88,803	98,053
Merchandise inventories, net	1,072,976		977,505	962,943
Prepaid catalog expenses	23,830		23,625	27,097
Prepaid expenses	73,662		52,882	68,300
Other assets	12,066		10,652	11,589
Total current assets	1,364,378		1,367,180	1,279,104
Property and equipment, net	929,331		923,283	908,562
Deferred income taxes, net	130,212		135,238	134,721
Other assets, net	55,939		51,178	51,177
Total assets	2,479,860	[1]	2,476,879	2,373,564	[1]
Current liabilities
Accounts payable	429,700		453,710	391,597
Accrued salaries, benefits and other liabilities	100,550		130,187	103,040
Customer deposits	287,698		294,276	283,779
Borrowings under revolving line of credit	115,000			125,000
Income taxes payable	35,582		23,245	1,670
Other liabilities	51,540		59,838	53,331
Total current liabilities	1,020,070		961,256	958,417
Deferred rent and lease incentives	196,982		196,188	193,819
Other long-term obligations	74,284		71,215	66,516
Total liabilities	1,291,336		1,228,659	1,218,752
Commitments and contingencies - See Note F
Stockholders' equity
Preferred stock: $.01 par value; 7,500 shares authorized; none issued
Common stock: $.01 par value; 253,125 shares authorized; 85,754, 87,325 and 88,738 shares issued and outstanding at July 30, 2017, January 29, 2017 and July 31, 2016, respectively	858		873	888
Additional paid-in capital	556,702		556,928	542,711
Retained earnings	640,368		701,702	622,608
Accumulated other comprehensive loss	(8,599)		(9,903)	(9,860)
Treasury stock, at cost: 12, 20 and 23 shares as of July 30, 2017, January 29, 2017 and July 31, 2016, respectively	(805)		(1,380)	(1,535)
Total stockholders' equity	1,188,524		1,248,220	1,154,812
Total liabilities and stockholders' equity	$ 2,479,860		$ 2,476,879	$ 2,373,564
[1]	Includes long-term assets related to our international operations of approximately $61.9 million and $60.7 million as of July 30, 2017 and July 31, 2016, respectively.

Condensed Consolidated Balance6

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jul. 30, 2017	Jan. 29, 2017	Jul. 31, 2016
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	85,754,000	87,325,000	88,738,000
Common stock, shares outstanding	85,754,000	87,325,000	88,738,000
Treasury stock, shares	12,000	20,000	23,000

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jul. 30, 2017	Jul. 31, 2016
Cash flows from operating activities:
Net earnings	$ 92,472	$ 91,382
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization	90,048	83,369
Loss on disposal/impairment of assets	845	1,520
Amortization of deferred lease incentives	(12,680)	(12,550)
Deferred income taxes	(8,937)	(10,472)
Tax benefit related to stock-based awards	14,511	21,864
Excess tax benefit related to stock-based awards		(4,727)
Stock-based compensation expense	22,829	27,476
Other	102	(866)
Changes in:
Accounts receivable	10,658	(19,021)
Merchandise inventories	(92,711)	18,221
Prepaid catalog expenses	(205)	1,822
Prepaid expenses and other assets	(26,918)	(22,724)
Accounts payable	(37,092)	(71,614)
Accrued salaries, benefits and other liabilities	(36,036)	(12,867)
Customer deposits	(6,795)	(13,500)
Deferred rent and lease incentives	12,635	21,534
Income taxes payable	12,409	(65,399)
Net cash provided by operating activities	35,135	33,448
Cash flows from investing activities:
Purchases of property and equipment	(82,727)	(77,877)
Other	44	363
Net cash used in investing activities	(82,683)	(77,514)
Cash flows from financing activities:
Borrowings under revolving line of credit	115,000	125,000
Repurchases of common stock	(93,361)	(76,166)
Payment of dividends	(68,197)	(67,571)
Tax withholdings related to stock-based awards	(14,117)	(24,635)
Excess tax benefit related to stock-based awards		4,727
Proceeds related to stock-based awards		1,532
Other		(47)
Net cash used in financing activities	(60,675)	(37,160)
Effect of exchange rates on cash and cash equivalents	(2,381)	(1,299)
Net decrease in cash and cash equivalents	(110,604)	(82,525)
Cash and cash equivalents at beginning of period	213,713	193,647
Cash and cash equivalents at end of period	$ 103,109	$ 111,122

FINANCIAL STATEMENTS - BASIS OF

FINANCIAL STATEMENTS - BASIS OF PRESENTATION	6 Months Ended
	Jul. 30, 2017
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 July 30, 2017 and July 31, 2016, the Condensed Consolidated Statements of Earnings, 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 January 29, 2017, 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 January 29, 2017. The results of operations for the thirteen and twenty-six weeks ended July 30, 2017 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 January 29, 2017. New Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers Revenue from Contracts with Customers: Principal versus Agent Considerations Identifying Performance Obligations and Licensing In February 2016, the FASB issued ASU 2016-02, Leases In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting In October 2016, the FASB issued ASU 2016-16, Intra-Entity Transfers of Assets Other than Inventory

BORROWING ARRANGEMENTS

BORROWING ARRANGEMENTS	6 Months Ended
	Jul. 30, 2017
BORROWING ARRANGEMENTS	NOTE B. BORROWING ARRANGEMENTS Credit Facility We have a $500,000,000 unsecured revolving line of credit (“credit facility”) that may be used to borrow revolving loans or request the issuance of letters of credit. We may, upon notice to the administrative agent, request existing or new lenders to increase the credit facility by up to $250,000,000, at such lenders’ option, to provide for a total of $750,000,000 of unsecured revolving credit. As of July 30, 2017, we were in compliance with our financial covenants under the credit facility and, based on current projections, we expect to remain in compliance throughout the next 12 months. The credit facility matures on November 19, 2019, at which time all outstanding borrowings must be repaid and all outstanding letters of credit must be cash collateralized. We may elect interest rates calculated at (i) Bank of America’s prime rate (or, if greater, the average rate on overnight federal funds plus one-half of one percent, or a rate based on LIBOR plus one percent) plus a margin based on our leverage ratio or (ii) LIBOR plus a margin based on our leverage ratio. During the second quarter of fiscal 2017, we had borrowings of $70,000,000 under the credit facility. For year-to-date fiscal 2017, we borrowed $115,000,000 (at a weighted average interest rate of 2.24%), all of which was outstanding as of July 30, 2017. During the second quarter of fiscal 2016, we borrowed $25,000,000 under the credit facility. For year-to-date fiscal 2016, we borrowed $125,000,000 (at a weighted average interest rate of 1.47%), all of which was outstanding as of July 31, 2016. Additionally, as of July 30, 2017, $12,771,000 in issued but undrawn standby letters of credit was outstanding under the credit facility. The standby letters of credit were issued to secure the liabilities associated with workers’ compensation and other insurance programs. Letter of Credit Facilities We have three unsecured letter of credit reimbursement facilities for a total of $70,000,000. On August 25, 2017, we renewed all three of our letter of credit facilities for an aggregate of $70,000,000, and extended each of these facilities’ maturity dates until August 25, 2018. The letter of credit facilities contain covenants that are consistent with our unsecured revolving line of credit. Interest on unreimbursed amounts under the letter of credit facilities accrues at the lender’s prime rate (or, if greater, the average rate on overnight federal funds plus one-half of one percent) plus 2.0%. As of July 30, 2017, an aggregate of $5,303,000 was outstanding under the letter of credit facilities, which represents only a future commitment to fund inventory purchases to which we had not taken legal title. The latest expiration possible for any future letters of credit issued under the facilities is January 22, 2019.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Jul. 30, 2017
STOCK-BASED COMPENSATION	NOTE C. STOCK-BASED COMPENSATION Equity Award Programs Our Amended and Restated 2001 Long-Term Incentive Plan (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 July 30, 2017, there were approximately 5,970,000 shares available for future grant. Awards may be granted under the Plan to our officers, employees and non-employee members of the board of directors (the “Board”) or those of any of our subsidiaries. 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 evenly 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 and have a maximum term of seven years. 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 During the thirteen and twenty-six weeks ended July 30, 2017, we recognized total stock-based compensation expense, as a component of selling, general and administrative expenses, of $13,012,000 and $22,829,000, respectively. During the thirteen and twenty-six weeks ended July 31, 2016, we recognized total stock-based compensation expense, as a component of selling, general and administrative expenses, of $11,744,000 and $27,476,000, respectively. Stock-Settled Stock Appreciation Rights A stock-settled stock appreciation right is an award that allows the recipient to receive common stock equal to the appreciation in the fair market value of our common stock between the grant date and the conversion date for the number of shares converted. The following table summarizes our stock-settled stock appreciation right activity during the twenty-six weeks ended July 30, 2017: Shares Balance at January 29, 2017 (100% vested) 411,710 Granted — Converted into common stock (51,021 ) Cancelled — Balance at July 30, 2017 (100% vested) 360,689 Restricted Stock Units The following table summarizes our restricted stock unit activity during the twenty-six weeks ended July 30, 2017: Shares Balance at January 29, 2017 2,232,486 Granted 1,375,135 Released (602,297 ) Cancelled (582,556 ) Balance at July 30, 2017 2,422,768 Vested plus expected to vest at July 30, 2017 1,772,666

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jul. 30, 2017
EARNINGS PER SHARE	NOTE D. 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 Average Shares Earnings Per Share Thirteen weeks ended July 30, 2017 Basic $ 52,917 86,429 $ 0.61 Effect of dilutive stock-based awards 419 Diluted $ 52,917 86,848 $ 0.61 Thirteen weeks ended July 31, 2016 Basic $ 51,785 89,039 $ 0.58 Effect of dilutive stock-based awards 697 Diluted $ 51,785 89,736 $ 0.58 Twenty-six weeks ended July 30, 2017 Basic $ 92,472 86,696 $ 1.07 Effect of dilutive stock-based awards 542 Diluted $ 92,472 87,238 $ 1.06 Twenty-six weeks ended July 31, 2016 Basic $ 91,382 89,169 $ 1.02 Effect of dilutive stock-based awards 929 Diluted $ 91,382 90,098 $ 1.01 Stock-based awards of 1,638,306 and 1,048,547 were excluded from the computation of diluted earnings per share for the thirteen and twenty-six weeks ended July 30, 2017, respectively, as their inclusion would be anti-dilutive. Stock-based awards of 909,000 and 627,000 were excluded from the computation of diluted earnings per share for the thirteen and twenty-six weeks ended July 31, 2016, respectively, as their inclusion would be anti-dilutive.

SEGMENT REPORTING

SEGMENT REPORTING	6 Months Ended
	Jul. 30, 2017
SEGMENT REPORTING	NOTE E. SEGMENT REPORTING We have two reportable segments, e-commerce and retail. The e-commerce segment has the following merchandise 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 merchandise strategies are operating segments, which have been aggregated into one reportable segment, e-commerce. The retail segment, which includes our franchise operations, has the following merchandise strategies: Williams Sonoma, Pottery Barn, Pottery Barn Kids, West Elm and Rejuvenation, which sell our products through our retail stores. Our retail merchandise strategies are operating segments, which have been aggregated into one reportable segment, retail. Management’s expectation is that the overall economic characteristics of each of our operating segments will be similar over time based on management’s judgment that the operating segments have had similar historical economic characteristics and are expected to have similar long-term financial performance in the future. These reportable segments are strategic business units that offer similar products for the home. 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 (expense) and income taxes. Unallocated costs before interest and income taxes include corporate employee-related costs, occupancy expenses (including depreciation expense), administrative costs and third-party service costs, primarily in our corporate administrative and systems departments. Unallocated assets include corporate cash and cash equivalents, prepaid expenses, the net book value of corporate facilities and related information systems, deferred income taxes and other corporate long-lived assets. Income taxes are calculated at an entity level and are not allocated to our reportable segments. Segment Information In thousands E-commerce Retail Unallocated Total Thirteen weeks ended July 30, 2017 Net revenues 1 $ 630,793 $ 570,813 $ — $ 1,201,606 Depreciation and amortization expense 6,788 22,385 15,925 45,098 Operating income (loss) 135,139 34,592 (88,147 ) 81,584 Capital expenditures 8,119 23,288 19,167 50,574 Thirteen weeks ended July 31, 2016 Net revenues 1 $ 599,683 $ 559,346 $ — $ 1,159,029 Depreciation and amortization expense 7,989 21,339 12,801 42,129 Operating income (loss) 132,733 33,217 (82,674 ) 83,276 Capital expenditures 4,593 25,127 20,008 49,728 Twenty-six weeks ended July 30, 2017 Net revenues 1 $ 1,211,303 $ 1,101,810 $ — $ 2,313,113 Depreciation and amortization expense 13,755 44,727 31,566 90,048 Operating income (loss) 2 267,143 56,306 (179,391 ) 144,058 Assets 3 672,522 1,129,925 677,413 2,479,860 Capital expenditures 10,989 39,785 31,953 82,727 Twenty-six weeks ended July 31, 2016 Net revenues 1 $ 1,175,917 $ 1,080,929 $ — $ 2,256,846 Depreciation and amortization expense 15,603 42,088 25,678 83,369 Operating income (loss) 2 264,278 63,342 (180,819 ) 146,801 Assets 3 627,532 1,051,184 694,848 2,373,564 Capital expenditures 8,442 38,879 30,556 77,877 1 Includes net revenues related to our international operations (including our operations in Canada, Australia, the United Kingdom and our franchise businesses) of approximately $80.6 million and $80.0 million for the thirteen weeks ended July 30, 2017 and July 31, 2016, respectively, and $150.0 million and $149.7 million for the twenty-six weeks ended July 30, 2017 and July 31, 2016, respectively. 2 Includes $5.7 million and $13.2 million of severance-related charges for the twenty-six weeks ended July 30, 2017 and July 31, 2016, respectively, primarily in our corporate functions, which is recorded in selling, general and administrative expenses within the unallocated segment. 3 Includes long-term assets related to our international operations of approximately $61.9 million and $60.7 million as of July 30, 2017 and July 31, 2016, respectively.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jul. 30, 2017
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. 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 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 DIVIDENDS	6 Months Ended
	Jul. 30, 2017
STOCK REPURCHASE PROGRAM AND DIVIDENDS	NOTE G. STOCK REPURCHASE PROGRAM AND DIVIDENDS Stock Repurchase Program During the thirteen weeks ended July 30, 2017, we repurchased 1,160,381 shares of our common stock at an average cost of $47.41 per share for a total cost of approximately $55,011,000. During the twenty-six weeks ended July 30, 2017, we repurchased 1,924,924 shares of our common stock at an average cost of $48.50 per share for a total cost of approximately $93,361,000. As of July 30, 2017, we held treasury stock of $805,000 that represents the cost of shares available for issuance intended to satisfy future stock-based award settlements in certain foreign jurisdictions. During the thirteen weeks ended July 31, 2016, we repurchased 665,517 shares of our common stock at an average cost of $53.38 per share for a total cost of approximately $35,527,000. During the twenty-six weeks ended July 31, 2016, we repurchased 1,393,146 shares of our common stock at an average cost of $54.67 per share for a total cost of approximately $76,166,000. Stock repurchases under our 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. The stock repurchase program does not have an expiration date and may be limited or terminated at any time without prior notice. Dividends We declared cash dividends of $0.39 and $0.37 per common share during the thirteen weeks ended July 30, 2017 and July 31, 2016, respectively. We declared cash dividends of $0.78 and $0.74 per common share during the twenty-six weeks ended July 30, 2017 and July 31, 2016, respectively. Our quarterly cash dividend may be limited or terminated at any time.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	6 Months Ended
	Jul. 30, 2017
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. However, some of our foreign operations have a functional currency other than the U.S. dollar. 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 or long-term assets or other current or long-term 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 FASB Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging Cash Flow Hedges We enter into foreign currency forward contracts designated as cash flow hedges (to sell Canadian dollars and purchase U.S. dollars) for forecasted inventory purchases in U.S. dollars by our foreign subsidiaries. These hedges have terms of up to 18 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 selling, general and administrative expenses. Based on the rates in effect as of July 30, 2017, we expect to reclassify a net pre-tax loss of approximately $634,000 from OCI to cost of goods sold over the next 12 months. We also enter into non-designated foreign currency forward contracts (to sell Australian dollars and purchase U.S. dollars) to reduce the exchange risk associated with our assets and liabilities denominated in a foreign currency. Any foreign exchange gains or losses related to these contracts are recognized in selling, general and administrative expenses. As of July 30, 2017 and July 31, 2016, we had foreign currency forward contracts outstanding (in U.S. dollars) with notional values as follows: In thousands July 30, 2017 July 31, 2016 Contracts designated as cash flow hedges $ 24,600 $ 28,450 Contracts not designated as cash flow hedges $ 48,000 $ 44,000 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 selling, general and administrative expenses. 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 July 30, 2017 and July 31, 2016. The effect of derivative instruments in our Condensed Consolidated Financial Statements during the thirteen and twenty-six weeks ended July 30, 2017 and July 31, 2016, pre-tax, was as follows: In thousands Thirteen Thirteen Twenty-six Twenty-six Net gain (loss) recognized in OCI $ (1,588 ) $ 1,434 $ (696 ) $ (1,499 ) Net gain (loss) reclassified from OCI into cost of goods sold $ (9 ) $ 50 $ 12 $ 459 Net foreign exchange gain (loss) recognized in selling, general and administrative expenses: Instruments designated as cash flow hedges 1 $ 47 $ (13 ) $ 55 $ 10 Instruments not designated or de-designated $ — $ 309 $ 341 $ (3,033 ) 1 Changes in fair value of the forward contract related to interest charges (or forward points). The fair values of our derivative financial instruments are presented below according to their classification in our Condensed Consolidated Balance Sheets. All fair values were measured using Level 2 inputs as defined by the fair value hierarchy described in Note I. In thousands July 30, 2017 July 31, 2016 Derivatives designated as cash flow hedges: Other current assets $ — $ 309 Other current liabilities $ (704 ) $ (695 ) Other long-term liabilities $ (90 ) $ — Derivatives not designated as hedging instruments: Other current assets $ 6 $ 9 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
	Jul. 30, 2017
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. Property and Equipment We review the carrying value of all long-lived assets for impairment, primarily at an individual store level, whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. We measure these assets at fair value on a nonrecurring basis using Level 3 inputs as defined in the fair value hierarchy. The fair value is based on the present value of estimated future cash flows using a discount rate that approximates our weighted average cost of capital. There were no transfers between Level 1, 2 or 3 categories during the thirteen and twenty-six weeks ended July 30, 2017 or July 31, 2016.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME	6 Months Ended
	Jul. 30, 2017
ACCUMULATED OTHER COMPREHENSIVE INCOME	NOTE J. ACCUMULATED OTHER COMPREHENSIVE INCOME Changes in accumulated other comprehensive income (loss) by component, net of tax, are as follows: In thousands Foreign Currency Cash Flow Accumulated Other Balance at January 29, 2017 $ (9,957 ) $ 54 $ (9,903 ) Foreign currency translation adjustments (1,566 ) — (1,566 ) Change in fair value of derivative financial instruments — 655 655 Reclassification adjustment for realized (gain) loss on derivative financial instruments 1 — (16 ) (16 ) Other comprehensive income (loss) (1,566 ) 639 (927 ) Balance at April 30, 2017 (11,523 ) 693 (10,830 ) Foreign currency translation adjustments 3,390 3,390 Change in fair value of derivative financial instruments (1,166 ) (1,166 ) Reclassification adjustment for realized (gain) loss on derivative financial instruments 1 7 7 Other comprehensive income (loss) 3,390 (1,159 ) 2,231 Balance at July 30, 2017 $ (8,133 ) $ (466 ) $ (8,599 ) Balance at January 31, 2016 $ (11,480 ) $ 864 $ (10,616 ) Foreign currency translation adjustments 5,208 — 5,208 Change in fair value of derivative financial instruments — (2,165 ) (2,165 ) Reclassification adjustment for realized (gain) loss on derivative financial instruments 1 — (302 ) (302 ) Other comprehensive income (loss) 5,208 (2,467 ) 2,741 Balance at May 1, 2016 (6,272 ) (1,603 ) (7,875 ) Foreign currency translation adjustments (3,005 ) — (3,005 ) Change in fair value of derivative financial instruments — 1,058 1,058 Reclassification adjustment for realized (gain) loss on derivative financial instruments 1 — (38 ) (38 ) Other comprehensive income (loss) (3,005 ) 1,020 (1,985 ) Balance at July 31, 2016 $ (9,277 ) $ (583 ) $ (9,860 ) 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.

FINANCIAL STATEMENTS - BASIS 18

FINANCIAL STATEMENTS - BASIS OF PRESENTATION (Policies)	6 Months Ended
	Jul. 30, 2017
New Accounting Pronouncements	New Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers Revenue from Contracts with Customers: Principal versus Agent Considerations Identifying Performance Obligations and Licensing In February 2016, the FASB issued ASU 2016-02, Leases In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting In October 2016, the FASB issued ASU 2016-16, Intra-Entity Transfers of Assets Other than Inventory

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Jul. 30, 2017
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 July 30, 2017: Shares Balance at January 29, 2017 (100% vested) 411,710 Granted — Converted into common stock (51,021 ) Cancelled — Balance at July 30, 2017 (100% vested) 360,689
Summary of Restricted Stock Units Activity	The following table summarizes our restricted stock unit activity during the twenty-six weeks ended July 30, 2017: Shares Balance at January 29, 2017 2,232,486 Granted 1,375,135 Released (602,297 ) Cancelled (582,556 ) Balance at July 30, 2017 2,422,768 Vested plus expected to vest at July 30, 2017 1,772,666

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jul. 30, 2017
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 Average Shares Earnings Per Share Thirteen weeks ended July 30, 2017 Basic $ 52,917 86,429 $ 0.61 Effect of dilutive stock-based awards 419 Diluted $ 52,917 86,848 $ 0.61 Thirteen weeks ended July 31, 2016 Basic $ 51,785 89,039 $ 0.58 Effect of dilutive stock-based awards 697 Diluted $ 51,785 89,736 $ 0.58 Twenty-six weeks ended July 30, 2017 Basic $ 92,472 86,696 $ 1.07 Effect of dilutive stock-based awards 542 Diluted $ 92,472 87,238 $ 1.06 Twenty-six weeks ended July 31, 2016 Basic $ 91,382 89,169 $ 1.02 Effect of dilutive stock-based awards 929 Diluted $ 91,382 90,098 $ 1.01

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	6 Months Ended
	Jul. 30, 2017
Segment Information	Segment Information In thousands E-commerce Retail Unallocated Total Thirteen weeks ended July 30, 2017 Net revenues 1 $ 630,793 $ 570,813 $ — $ 1,201,606 Depreciation and amortization expense 6,788 22,385 15,925 45,098 Operating income (loss) 135,139 34,592 (88,147 ) 81,584 Capital expenditures 8,119 23,288 19,167 50,574 Thirteen weeks ended July 31, 2016 Net revenues 1 $ 599,683 $ 559,346 $ — $ 1,159,029 Depreciation and amortization expense 7,989 21,339 12,801 42,129 Operating income (loss) 132,733 33,217 (82,674 ) 83,276 Capital expenditures 4,593 25,127 20,008 49,728 Twenty-six weeks ended July 30, 2017 Net revenues 1 $ 1,211,303 $ 1,101,810 $ — $ 2,313,113 Depreciation and amortization expense 13,755 44,727 31,566 90,048 Operating income (loss) 2 267,143 56,306 (179,391 ) 144,058 Assets 3 672,522 1,129,925 677,413 2,479,860 Capital expenditures 10,989 39,785 31,953 82,727 Twenty-six weeks ended July 31, 2016 Net revenues 1 $ 1,175,917 $ 1,080,929 $ — $ 2,256,846 Depreciation and amortization expense 15,603 42,088 25,678 83,369 Operating income (loss) 2 264,278 63,342 (180,819 ) 146,801 Assets 3 627,532 1,051,184 694,848 2,373,564 Capital expenditures 8,442 38,879 30,556 77,877 1 Includes net revenues related to our international operations (including our operations in Canada, Australia, the United Kingdom and our franchise businesses) of approximately $80.6 million and $80.0 million for the thirteen weeks ended July 30, 2017 and July 31, 2016, respectively, and $150.0 million and $149.7 million for the twenty-six weeks ended July 30, 2017 and July 31, 2016, respectively. 2 Includes $5.7 million and $13.2 million of severance-related charges for the twenty-six weeks ended July 30, 2017 and July 31, 2016, respectively, primarily in our corporate functions, which is recorded in selling, general and administrative expenses within the unallocated segment. 3 Includes long-term assets related to our international operations of approximately $61.9 million and $60.7 million as of July 30, 2017 and July 31, 2016, respectively.

DERIVATIVE FINANCIAL INSTRUME22

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jul. 30, 2017
Foreign Currency Forward Contracts Outstanding with Notional Values	As of July 30, 2017 and July 31, 2016, we had foreign currency forward contracts outstanding (in U.S. dollars) with notional values as follows: In thousands July 30, 2017 July 31, 2016 Contracts designated as cash flow hedges $ 24,600 $ 28,450 Contracts not designated as cash flow hedges $ 48,000 $ 44,000
Effect of Derivative Instruments in Consolidated Financial Statements	The effect of derivative instruments in our Condensed Consolidated Financial Statements during the thirteen and twenty-six weeks ended July 30, 2017 and July 31, 2016, pre-tax, was as follows: In thousands Thirteen Thirteen Twenty-six Twenty-six Net gain (loss) recognized in OCI $ (1,588 ) $ 1,434 $ (696 ) $ (1,499 ) Net gain (loss) reclassified from OCI into cost of goods sold $ (9 ) $ 50 $ 12 $ 459 Net foreign exchange gain (loss) recognized in selling, general and administrative expenses: Instruments designated as cash flow hedges 1 $ 47 $ (13 ) $ 55 $ 10 Instruments not designated or de-designated $ — $ 309 $ 341 $ (3,033 ) 1 Changes in fair value of the forward contract related to interest charges (or forward points).
Fair Values of Derivative Instruments	The fair values of our derivative financial instruments are presented below according to their classification in our Condensed Consolidated Balance Sheets. All fair values were measured using Level 2 inputs as defined by the fair value hierarchy described in Note I. In thousands July 30, 2017 July 31, 2016 Derivatives designated as cash flow hedges: Other current assets $ — $ 309 Other current liabilities $ (704 ) $ (695 ) Other long-term liabilities $ (90 ) $ — Derivatives not designated as hedging instruments: Other current assets $ 6 $ 9

ACCUMULATED OTHER COMPREHENSI23

ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	6 Months Ended
	Jul. 30, 2017
Changes in Accumulated Other Comprehensive Income (Loss) by Component, Net of Tax	Changes in accumulated other comprehensive income (loss) by component, net of tax, are as follows: In thousands Foreign Currency Cash Flow Accumulated Other Balance at January 29, 2017 $ (9,957 ) $ 54 $ (9,903 ) Foreign currency translation adjustments (1,566 ) — (1,566 ) Change in fair value of derivative financial instruments — 655 655 Reclassification adjustment for realized (gain) loss on derivative financial instruments 1 — (16 ) (16 ) Other comprehensive income (loss) (1,566 ) 639 (927 ) Balance at April 30, 2017 (11,523 ) 693 (10,830 ) Foreign currency translation adjustments 3,390 3,390 Change in fair value of derivative financial instruments (1,166 ) (1,166 ) Reclassification adjustment for realized (gain) loss on derivative financial instruments 1 7 7 Other comprehensive income (loss) 3,390 (1,159 ) 2,231 Balance at July 30, 2017 $ (8,133 ) $ (466 ) $ (8,599 ) Balance at January 31, 2016 $ (11,480 ) $ 864 $ (10,616 ) Foreign currency translation adjustments 5,208 — 5,208 Change in fair value of derivative financial instruments — (2,165 ) (2,165 ) Reclassification adjustment for realized (gain) loss on derivative financial instruments 1 — (302 ) (302 ) Other comprehensive income (loss) 5,208 (2,467 ) 2,741 Balance at May 1, 2016 (6,272 ) (1,603 ) (7,875 ) Foreign currency translation adjustments (3,005 ) — (3,005 ) Change in fair value of derivative financial instruments — 1,058 1,058 Reclassification adjustment for realized (gain) loss on derivative financial instruments 1 — (38 ) (38 ) Other comprehensive income (loss) (3,005 ) 1,020 (1,985 ) Balance at July 31, 2016 $ (9,277 ) $ (583 ) $ (9,860 ) 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.

Borrowing Arrangements - Additi

Borrowing Arrangements - Additional Information (Detail) - USD ($)	Aug. 25, 2017	Jul. 30, 2017	Jul. 31, 2016	Jul. 30, 2017	Jul. 31, 2016
Debt Instrument [Line Items]
Additional percentage over reference rate				2.00%
Interest rate description				Interest on unreimbursed amounts under the letter of credit facilities accrues at the lender's prime rate (or, if greater, the average rate on overnight federal funds plus one-half of one percent) plus 2.0%.
Amount of borrowings under credit facility during period		$ 70,000,000	$ 25,000,000	$ 115,000,000	$ 125,000,000
Outstanding letter of credit facilities		5,303,000		$ 5,303,000
Latest expiration date possible for future letters of credit				Jan. 22, 2019
Subsequent Event
Debt Instrument [Line Items]
Maximum borrowing capacity under letter of credit facilities including additional borrowing capacity	$ 70,000,000
Letter of credit facilities, maturity date	Aug. 25, 2018
Standby Letters of Credit
Debt Instrument [Line Items]
Amount issued but undrawn under credit facility		12,771,000		$ 12,771,000
Federal Funds
Debt Instrument [Line Items]
Additional percentage over reference rate				0.50%
Unsecured Revolving Line Of Credit
Debt Instrument [Line Items]
Current borrowing capacity		500,000,000		$ 500,000,000
Maximum borrowing capacity including additional borrowing capacity		$ 750,000,000		$ 750,000,000
Credit facility, maturity date				Nov. 19, 2019
Interest rate description				We may elect interest rates calculated at (i) Bank of America's prime rate (or, if greater, the average rate on overnight federal funds plus one-half of one percent, or a rate based on LIBOR plus one percent) plus a margin based on our leverage ratio or (ii) LIBOR plus a margin based on our leverage ratio.
Weighted average interest rate		2.24%	1.47%	2.24%	1.47%
Unsecured Revolving Line Of Credit | Maximum
Debt Instrument [Line Items]
Additional borrowing capacity		$ 250,000,000		$ 250,000,000
Unsecured Revolving Line Of Credit | Federal Funds
Debt Instrument [Line Items]
Additional percentage over reference rate				0.50%
Unsecured Revolving Line Of Credit | Libor
Debt Instrument [Line Items]
Additional percentage over reference rate				1.00%

Stock Based Compensation - Addi

Stock Based Compensation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 30, 2017	Jul. 31, 2016	Jul. 30, 2017	Jul. 31, 2016
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	$ 13,012	$ 11,744	$ 22,829	$ 27,476
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]
Aggregate number of shares under the Plan	32,310,000		32,310,000
Shares available for future grant	5,970,000		5,970,000
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
Maximum term of grants of stock awards, years			7 years
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-Settled Stock

Summary of Stock-Settled Stock Appreciation Right Activity (Detail) - Stock-Settled Stock Appreciation Rights	6 Months Ended
	Jul. 30, 2017shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Balance at January 29, 2017 (100% vested)	411,710
Granted, shares	0
Converted into common stock, shares	(51,021)
Cancelled, shares	0
Balance at July 30, 2017 (100% vested)	360,689

Summary of Stock-Settled Stoc27

Summary of Stock-Settled Stock Appreciation Right Activity (Parenthetical) (Detail)	6 Months Ended
	Jul. 30, 2017
Stock-Settled Stock Appreciation Rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested percentage	100.00%

Summary of Restricted Stock Uni

Summary of Restricted Stock Unit Activity (Detail) - Restricted Stock Units (RSUs)	6 Months Ended
	Jul. 30, 2017shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Balance at January 29, 2017 shares	2,232,486
Granted, shares	1,375,135
Released, shares	(602,297)
Cancelled, shares	(582,556)
Balance at July 30, 2017 shares	2,422,768
Vested plus expected to vest at July 30, 2017 shares	1,772,666

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
	Jul. 30, 2017	Jul. 31, 2016	Jul. 30, 2017	Jul. 31, 2016
Earnings Per Share [Line Items]
Net Earnings, Basic	$ 52,917	$ 51,785	$ 92,472	$ 91,382
Net Earnings, Diluted	$ 52,917	$ 51,785	$ 92,472	$ 91,382
Weighted Average Shares, Basic	86,429	89,039	86,696	89,169
Weighted Average Shares, Effect of dilutive stock-based awards	419	697	542	929
Weighted Average Shares, Diluted	86,848	89,736	87,238	90,098
Earnings Per Share, Basic	$ 0.61	$ 0.58	$ 1.07	$ 1.02
Earnings Per Share, Diluted	$ 0.61	$ 0.58	$ 1.06	$ 1.01

Earnings Per Share- Additional

Earnings Per Share- Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jul. 30, 2017	Jul. 31, 2016	Jul. 30, 2017	Jul. 31, 2016
Earnings Per Share [Line Items]
Anti-dilutive stock-based awards excluded from the computation of diluted earnings per share	1,638,306	909,000	1,048,547	627,000

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail)	6 Months Ended
	Jul. 30, 2017Segment
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
		Jul. 30, 2017		Jul. 31, 2016		Jul. 30, 2017		Jul. 31, 2016		Jan. 29, 2017
Segment Reporting Information [Line Items]
Net revenues	[1]	$ 1,201,606		$ 1,159,029		$ 2,313,113		$ 2,256,846
Depreciation and amortization expense		45,098		42,129		90,048		83,369
Operating income (loss)		81,584		83,276		144,058	[2]	146,801	[2]
Capital expenditures		50,574		49,728		82,727		77,877
Assets		2,479,860	[3]	2,373,564	[3]	2,479,860	[3]	2,373,564	[3]	$ 2,476,879
E-commerce
Segment Reporting Information [Line Items]
Net revenues		630,793		599,683		1,211,303		1,175,917
Retail
Segment Reporting Information [Line Items]
Net revenues		570,813		559,346		1,101,810		1,080,929
Operating Segments | E-commerce
Segment Reporting Information [Line Items]
Net revenues	[1]	630,793		599,683		1,211,303		1,175,917
Depreciation and amortization expense		6,788		7,989		13,755		15,603
Operating income (loss)		135,139		132,733		267,143	[2]	264,278	[2]
Capital expenditures		8,119		4,593		10,989		8,442
Assets	[3]	672,522		627,532		672,522		627,532
Operating Segments | Retail
Segment Reporting Information [Line Items]
Net revenues	[1]	570,813		559,346		1,101,810		1,080,929
Depreciation and amortization expense		22,385		21,339		44,727		42,088
Operating income (loss)		34,592		33,217		56,306	[2]	63,342	[2]
Capital expenditures		23,288		25,127		39,785		38,879
Assets	[3]	1,129,925		1,051,184		1,129,925		1,051,184
Unallocated
Segment Reporting Information [Line Items]
Depreciation and amortization expense		15,925		12,801		31,566		25,678
Operating income (loss)		(88,147)		(82,674)		(179,391)	[2]	(180,819)	[2]
Capital expenditures		19,167		20,008		31,953		30,556
Assets	[3]	$ 677,413		$ 694,848		$ 677,413		$ 694,848
[1]	Includes net revenues related to our international operations (including our operations in Canada, Australia, the United Kingdom and our franchise businesses) of approximately $80.6 million and $80.0 million for the thirteen weeks ended July 30, 2017 and July 31, 2016, respectively, and $150.0 million and $149.7 million for the twenty-six weeks ended July 30, 2017 and July 31, 2016, respectively.
[2]	Includes $5.7 million and $13.2 million of severance-related charges for the twenty-six weeks ended July 30, 2017 and July 31, 2016, respectively, primarily in our corporate functions, which is recorded in selling, general and administrative expenses within the unallocated segment.
[3]	Includes long-term assets related to our international operations of approximately $61.9 million and $60.7 million as of July 30, 2017 and July 31, 2016, respectively.

Segment Information (Parentheti

Segment Information (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2017	Jul. 31, 2016	Jul. 30, 2017	Jul. 31, 2016
Segment Reporting Information [Line Items]
Net revenues related to foreign operations	$ 80.6	$ 80	$ 150	$ 149.7
Severance, related charges			5.7	13.2
Long-term assets related to foreign operations	$ 61.9	$ 60.7	$ 61.9	$ 60.7

Stock Repurchase Program and 34

Stock Repurchase Program and Dividends - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 30, 2017	Jul. 31, 2016	Jul. 30, 2017	Jul. 31, 2016	Jan. 29, 2017
Stock Repurchase Program and Dividend [Line Items]
Common stock repurchased, shares	1,160,381	665,517	1,924,924	1,393,146
Common stock repurchased, average cost per share	$ 47.41	$ 53.38	$ 48.50	$ 54.67
Common stock repurchased, total cost	$ 55,011	$ 35,527	$ 93,361	$ 76,166
Treasure stock, value	$ 805	$ 1,535	$ 805	$ 1,535	$ 1,380
Cash dividend, per common share	$ 0.39	$ 0.37	$ 0.78	$ 0.74

Derivative Financial Instrume35

Derivative Financial Instruments - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 30, 2017	Jul. 31, 2016	Jul. 30, 2017	Jul. 31, 2016
Derivative [Line Items]
Reclassification from OCI to cost of goods sold	$ 634,000		$ 634,000
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 with Notional Values (Detail) - Foreign Exchange Contract - USD ($)	Jul. 30, 2017	Jul. 31, 2016
Derivatives Designated as Hedging Instruments | Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Exchange of foreign currency contracts	$ 24,600,000	$ 28,450,000
Not Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Exchange of foreign currency contracts	$ 48,000,000	$ 44,000,000

Effect of Derivative Instrument

Effect of Derivative Instruments in Condensed Consolidated Financial Statements (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jul. 30, 2017	Jul. 31, 2016	Jul. 30, 2017	Jul. 31, 2016
Derivative [Line Items]
Net gain (loss) recognized in OCI		$ (1,588)	$ 1,434	$ (696)	$ (1,499)
Net gain (loss) reclassified from OCI into cost of goods sold		(9)	50	12	459
Net foreign exchange gain (loss) recognized in selling, general and administrative expenses, Instruments designated as cash flow hedges	[1]	$ 47	(13)	55	10
Net foreign exchange gain (loss) recognized in selling, general and administrative expenses, Instruments not designated or de-designated			$ 309	$ 341	$ (3,033)
[1]	Changes in fair value of the forward contract related to interest charges (or forward points).

Fair Value of Derivatives as De

Fair Value of Derivatives as Defined by Accounting Standard (Detail) - USD ($) $ in Thousands	Jul. 30, 2017	Jul. 31, 2016
Other Current Assets
Derivatives, Fair Value [Line Items]
Derivatives designated as cash flow hedges, Assets		$ 309
Derivatives not designated as hedging instruments, Assets	$ 6	9
Other Current Liabilities
Derivatives, Fair Value [Line Items]
Derivatives designated as cash flow hedges, Assets	704	$ 695
Other Long Term Liabilites
Derivatives, Fair Value [Line Items]
Derivatives designated as cash flow hedges, Liabilities	$ (90)

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Loss) by Component, Net of Tax (Detail) - USD ($) $ in Thousands		3 Months Ended				6 Months Ended
		Jul. 30, 2017	Apr. 30, 2017	Jul. 31, 2016	May 01, 2016	Jul. 30, 2017	Jul. 31, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			$ (9,903)			$ (9,903)
Foreign currency translation adjustments		$ 3,390		$ (3,005)		1,824	$ 2,203
Change in fair value of derivative financial instruments		(1,166)		1,058		(511)	(1,107)
Reclassification adjustment for realized (gain) loss on derivative financial instruments		7		(38)		(9)	(340)
Ending Balance		(8,599)		(9,860)		(8,599)	(9,860)
Accumulated Foreign Currency Adjustment Attributable to Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance		(11,523)	(9,957)	(6,272)	$ (11,480)	(9,957)	(11,480)
Foreign currency translation adjustments		3,390	(1,566)	(3,005)	5,208
Other comprehensive income (loss)		3,390	(1,566)	(3,005)	5,208
Ending Balance		(8,133)	(11,523)	(9,277)	(6,272)	(8,133)	(9,277)
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance		693	54	(1,603)	864	54	864
Change in fair value of derivative financial instruments		(1,166)	655	1,058	(2,165)
Reclassification adjustment for realized (gain) loss on derivative financial instruments	[1]	7	(16)	(38)	(302)
Other comprehensive income (loss)		(1,159)	639	1,020	(2,467)
Ending Balance		(466)	693	(583)	(1,603)	(466)	(583)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance		(10,830)	(9,903)	(7,875)	(10,616)	(9,903)	(10,616)
Foreign currency translation adjustments		3,390	(1,566)	(3,005)	5,208
Change in fair value of derivative financial instruments		(1,166)	655	1,058	(2,165)
Reclassification adjustment for realized (gain) loss on derivative financial instruments	[1]	7	(16)	(38)	(302)
Other comprehensive income (loss)		2,231	(927)	(1,985)	2,741
Ending Balance		$ (8,599)	$ (10,830)	$ (9,860)	$ (7,875)	$ (8,599)	$ (9,860)
[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.