Kaspien (KSPN) 10-Q 11 Dec 14 2014 Q3 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	9 Months Ended
	Nov. 01, 2014	Nov. 28, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'TRANS WORLD ENTERTAINMENT CORP	'
Document Type	'10-Q	'
Current Fiscal Year End Date	'--01-31	'
Entity Common Stock, Shares Outstanding	'	31,457,720
Amendment Flag	'false	'
Entity Central Index Key	'0000795212	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Filer Category	'Accelerated Filer	'
Entity Well-known Seasoned Issuer	'No	'
Document Period End Date	1-Nov-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Nov. 01, 2014	Feb. 01, 2014	Nov. 02, 2013
In Thousands, unless otherwise specified
CURRENT ASSETS:	'	'	'
Cash and cash equivalents	$79,366	$131,002	$86,028
Merchandise inventory	158,017	150,167	174,884
Other current assets	11,041	9,798	13,812
Total current assets	248,424	290,967	274,724
NET FIXED ASSETS	16,709	12,419	12,647
OTHER ASSETS	9,270	9,031	9,028
TOTAL ASSETS	274,403	312,417	296,399
CURRENT LIABILITIES:	'	'	'
Accounts payable	69,335	77,625	72,971
Accrued expenses and other current liabilities	6,976	7,873	8,768
Deferred revenue	8,996	10,092	9,788
Current portion of capital lease obligations	1,075	1,066	1,031
Total current liabilities	86,382	96,656	92,558
CAPITAL LEASE OBLIGATIONS, less current portion	142	938	1,218
OTHER LONG-TERM LIABILITIES	23,707	23,027	24,766
TOTAL LIABILITIES	110,231	120,621	118,542
SHAREHOLDERS’ EQUITY	'	'	'
Preferred stock ($0.01 par value; 5,000,000 shares authorized; none issued)	'	'	'
Common stock ($0.01 par value; 200,000,000 shares authorized; 58,325,668, 58,298,668 and 58,166,752 shares issued, respectively)	583	583	582
Additional paid-in capital	315,343	314,932	314,418
Treasury stock at cost (26,797,074, 26,108,846 and 25,823,001 shares, respectively)	-225,423	-222,948	-221,723
Accumulated other comprehensive income (loss)	315	-119	-2,235
Retained earnings	73,354	99,348	86,815
TOTAL SHAREHOLDERS’ EQUITY	164,172	191,796	177,857
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$274,403	$312,417	$296,399

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) (USD $)	Nov. 01, 2014	Feb. 01, 2014	Nov. 02, 2013
Preferred stock par value (in Dollars per share)	$0.01	$0.01	$0.01
Preferred stock, shares authorized	5,000,000	5,000,000	5,000,000
Preferred stock, shares issued	0	0	0
Common stock par value (in Dollars per share)	$0.01	$0.01	$0.01
Common stock, shares authorized	200,000,000	200,000,000	200,000,000
Common stock, shares issued	58,325,668	58,298,668	58,166,752
Treasury stock, shares at cost	26,797,074	26,108,846	25,823,001

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Nov. 01, 2014	Nov. 02, 2013	Nov. 01, 2014	Nov. 02, 2013
Net sales	$72,456	$79,772	$231,580	$254,473
Cost of sales	43,922	49,032	142,222	155,930
Gross profit	28,534	30,740	89,358	98,543
Selling, general and administrative expenses	32,520	33,552	97,772	101,229
Loss from operations	-3,986	-2,812	-8,414	-2,686
Interest expense, net	469	481	1,429	1,451
Loss before income tax expense	-4,455	-3,293	-9,843	-4,137
Income tax expense	21	22	115	119
Net loss	($4,476)	($3,315)	($9,958)	($4,256)
BASIC AND DILUTED LOSS PER SHARE:	'	'	'	'
Basic and diluted loss per share (in Dollars per share)	($0.14)	($0.10)	($0.31)	($0.13)
Weighted average number of common shares outstanding – basic and diluted (in Shares)	31,627	32,586	31,860	32,673

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Nov. 01, 2014	Nov. 02, 2013	Nov. 01, 2014	Nov. 02, 2013
Net loss	($4,476)	($3,315)	($9,958)	($4,256)
Amortization of prior service cost	145	180	434	540
Comprehensive loss	($4,331)	($3,135)	($9,524)	($3,716)

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Nov. 01, 2014	Nov. 02, 2013
Net cash used by operating activities	($24,995)	($40,020)
Cash flows from investing activities:	'	'
Purchases of fixed assets	-7,390	-6,861
Net cash used by investing activities	-7,390	-6,861
Cash flows from financing activities:	'	'
Cash dividends paid	-16,036	'
Payments of capital lease obligations	-787	-691
Exercise of stock options	47	4,786
Purchase of treasury stock	-2,475	-4,168
Net cash used by financing activities	-19,251	-73
Net decrease in cash and cash equivalents	-51,636	-46,954
Cash and cash equivalents, beginning of period	131,002	132,982
Cash and cash equivalents, end of period	79,366	86,028
Issuance of shares under deferred share plan	'	$50

Nature_of_Operations

Nature of Operations	9 Months Ended
	Nov. 01, 2014
Disclosure Text Block [Abstract]	'
Nature of Operations [Text Block]	'
	Note 1. Nature of Operations
	Trans World Entertainment Corporation and subsidiaries (“the Company”) is one of the largest specialty retailers of entertainment products, including video, music, electronics, trend, video games and related products in the United States. The Company operates a chain of retail entertainment stores, primarily under the names f.y.e. for your entertainment and Suncoast Motion Pictures, and e-commerce sites, www.fye.com, www.wherehouse.com, and www.secondspin.com in a single industry segment. As of November 1, 2014, the Company operated 327 stores totaling approximately 1.9 million square feet in the United States and the Commonwealth of Puerto Rico.
	Liquidity and Cash Flows:
	The Company’s primary sources of working capital are cash and cash equivalents on hand, cash provided by operations and borrowing capacity under its revolving credit facility (See Note 6 for further details). The Company’s cash flows fluctuate from quarter to quarter due to various items, including seasonality of sales and earnings, merchandise inventory purchases and returns and the related terms on the purchases and capital expenditures. Management believes it will have adequate resources to fund its cash needs for the next twelve months and beyond, including its capital spending, its seasonal increase in merchandise inventory and other operating cash requirements and commitments.
	Management anticipates that any future cash requirements due to a shortfall in cash from operations would be funded by the Company’s cash and cash equivalents on hand and its revolving credit facility.
	Seasonality:
	The Company’s business is seasonal, with the fourth fiscal quarter constituting the Company’s peak selling period. In fiscal 2013, the fourth quarter accounted for approximately 35% of annual net sales. In anticipation of increased sales activity in the fourth quarter, the Company purchases additional inventory and hires seasonal associates to supplement its core store sales and distribution center staffs. If, for any reason, the Company’s sales were below seasonal norms during the fourth quarter, the Company’s operating results could be adversely affected. Quarterly sales can also be affected by the timing of new product releases, new store openings, store closings and the performance of existing stores.

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Nov. 01, 2014
Disclosure Text Block [Abstract]	'
Basis of Accounting [Text Block]	'
	Note 2. Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements consist of Trans World Entertainment Corporation, its wholly-owned subsidiary, Record Town, Inc. (“Record Town”), and Record Town’s subsidiaries, all of which are wholly-owned. All significant intercompany accounts and transactions have been eliminated.
	The interim condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. The information furnished in these unaudited condensed consolidated financial statements reflects all normal, recurring adjustments which, in the opinion of management, are necessary for the fair presentation of such financial statements. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. For the thirty-nine weeks ending November 1, 2014, the company recorded an adjustment to correct the liability for workers’ compensation claims related to a prior period, which increased Selling, General and Administrative Expenses and Net Loss by approximately $700,000. The cumulative effect of this adjustment is deemed immaterial. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to rules and regulations applicable to interim financial statements.
	Selling, general and administrative expenses include miscellaneous income items, other than interest. The Company recorded miscellaneous income items of $1.4 million for the thirteen weeks ended November 1, 2014 compared to an income of $1.6 million for the thirteen weeks ended November 2, 2013. For the thirty-nine weeks ended November 1, 2014, the Company recorded miscellaneous income items of $4.0 million, compared to income of $4.5 million for the thirty-nine weeks ended November 2, 2013.
	The information presented in the accompanying unaudited condensed consolidated balance sheet as of February 1, 2014 has been derived from the Company’s February 1, 2014 audited consolidated financial statements. All other information has been derived from the Company’s unaudited condensed consolidated financial statements as of and for the thirteen and thirty-nine weeks ended November 1, 2014 and November 2, 2013 . These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended February 1, 2014.
	The Company’s significant accounting policies are the same as those described in Note 1 to the Company’s Consolidated Financial Statements on Form 10-K for the fiscal year ended February 1, 2014.

Recently_Adopted_Accounting_Pr

Recently Adopted Accounting Pronouncements	9 Months Ended
	Nov. 01, 2014
Accounting Changes and Error Corrections [Abstract]	'
Accounting Changes and Error Corrections [Text Block]	'
	Note 3. Recently Adopted Accounting Pronouncements
	In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, (“ASU 2014-08”). This amendment changes the requirements for reporting discontinued operations and includes enhanced disclosures about discontinued operations. Under the amendment, only those disposals of components of an entity that represent a strategic shift that has a major effect on an entity’s operations and financial results will be reported as discontinued operations in the financial statements. ASU 2014-08 is effective prospectively for annual periods beginning on or after December 15, 2014, and interim reporting periods within those years. Early adoption is permitted. The Company expects to adopt ASU 2014-08 as of the beginning of 2015 and it does not anticipate the adoption of ASU 2014-08 to have a material impact on the Company’s consolidated financial position, cash flows, or results of operations.
	On May 28, 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for the Company on January 28, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.
	In August 2014, the FASB issued ASU No. 2014-15, Disclosures of Uncertainties about an Entity’s Ability to Continue as a Going Concern, which requires the Company to assess their ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of Company’s plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). The new standard is effective for reporting periods beginning after December 15, 2016. Early application is permitted. The Company does not expect the adoption of this update to have a significant effect on our financial statements.

Stock_Based_Compensation

Stock Based Compensation	9 Months Ended
	Nov. 01, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	'
	Note 4. Stock Based Compensation
	As of November 1, 2014, there was approximately $1.0 million of unrecognized compensation cost related to stock awards that is expected to be recognized as expense over a weighted average period of 1.7 years.
	As of November 1, 2014, stock awards authorized for issuance under the Company’s plans total 15.8 million. There are certain authorized stock awards for which the Company no longer grants awards. Of these awards authorized for issuance, 2.8 million were granted and are outstanding, 1.8 million of which were vested and exercisable. Awards available for future grants at November 1, 2014 were 3.0 million.
	The table below outlines the assumptions that the Company used to estimate the fair value of stock based awards granted during the thirty-nine weeks ended November 1, 2014:
			Minimum			Maximum
	Dividend yield				0%
	Expected stock price volatility		47.00%		-	66.80%
	Risk-free interest rate		1.45%		-	2.18%
	Expected award life (in years)		4.92		-	5.71
	Weighted average fair value per share of awards granted during the period				$1.93
	The following table summarizes stock award activity during the thirty-nine weeks ended November 1, 2014:
			Employee and Director Stock Award Plans
			Number of			Weighted		Weighted		Other		Weighted
			Shares			Average		Average		Share		Average
			Subject To			Exercise Price		Remaining		Awards(1)		Grant Date
			Option					Contractual Term				Fair Value
	Balance February 1, 2014			2,907,190		$	8.07		2.9		10,941	$	9.5
	Granted			492,500			3.45		9.8		226,459		3.47
	Exercised			(27,000	)		1.73		—		—		—
	Forfeited			(14,500	)		3.66		—		—		—
	Canceled			(752,590	)		10.31		—		—		—
	Balance November 1, 2014			2,605,600		$	6.64		4.28		237,400	$	3.75
	Exercisable November 1, 2014			1,736,350		$	8.2		1.93		37,400	$	3.75
		-1	Other Share Awards include deferred shares granted to Directors and restricted stock units granted to Chief Executive Officer.
	As of November 1, 2014, the intrinsic value of stock awards outstanding was $503,000 and exercisable was $332,000.

Defined_Benefit_Plans

Defined Benefit Plans	9 Months Ended
	Nov. 01, 2014
Disclosure Text Block Supplement [Abstract]	'
Compensation and Employee Benefit Plans [Text Block]	'
	Note 5. Defined Benefit Plans
	The Company maintains a non-qualified Supplemental Executive Retirement Plan (“SERP”) for certain executive officers of the Company. The SERP provides eligible executives defined pension benefits that supplement benefits under other retirement arrangements. During the thirty-nine weeks ended November 1, 2014, the Company did not make any cash contributions to the SERP and presently expects to pay approximately $103,000 in benefits relating to the SERP during Fiscal 2014.
	The Company had previously provided the Board of Directors with a noncontributory, unfunded retirement plan (“Director Retirement Plan”) that paid retired directors an annual retirement benefit. During the thirty-nine weeks ended November 1, 2014, the Company did not make any cash contributions to the Director Retirement Plan, and presently expects to pay approximately $34,000 in benefits relating to the Director Retirement Plan during Fiscal 2014.
	The measurement date for the SERP and Director Retirement Plan is fiscal year end, using actuarial techniques which reflect estimates for mortality, turnover and expected retirement. In addition, management makes assumptions concerning future salary increases. Discount rates are generally established as of the measurement date using theoretical bond models that select high-grade corporate bonds with maturities or coupons that correlate to the expected payouts of the applicable liabilities.
	The following represents the components of the net periodic pension cost related to the Company’s SERP and Director Retirement Plan for the respective periods:
		Thirteen weeks ended						Thirty-nine weeks ended
		November 1,			November 2,			November 1,			November 2,
		2014			2013			2014			2013
		(in thousands)						(in thousands)
	Service cost	$	14		$	28		$	42		$	84
	Interest cost		172			164			517			492
	Amortization of prior service cost		180			181			540			543
	Amortization of net gain		(35	)		(1	)		(106	)		(3	)
	Net periodic pension cost	$	331		$	372		$	993		$	1,116

Line_of_Credit

Line of Credit	9 Months Ended
	Nov. 01, 2014
Debt Disclosure [Abstract]	'
Debt Disclosure [Text Block]	'
	Note 6. Line of Credit
	In May 2012, the Company entered into a $75 million credit facility (“Credit Facility”) which amended the previous credit facility. The principal amount of all outstanding loans under the Credit Facility together with any accrued but unpaid interest, are due and payable in May 2017, unless otherwise paid earlier pursuant to the terms of the Credit Facility. Payments of amounts due under the Credit Facility are secured by the assets of the Company.
	The Credit Facility includes customary provisions, including affirmative and negative covenants, which include representations, warranties and restrictions on additional indebtedness and acquisitions. The Credit Facility also includes customary events of default, including, among other things, material adverse effect, bankruptcy, and certain changes of control. The Credit Facility also contains other terms and conditions, including limitations on the payment of dividends and covenants around the number of store closings. The Company is compliant with all covenants.
	Interest under the Credit Facility will accrue, at the election of the Company, at a Base Rate or LIBO Rate, plus, in each case, an Applicable Margin, which is determined by reference to the level of availability, with the Applicable Margin for LIBO Rate loans ranging from 2.25% to 2.75% and the Applicable Margin for Prime Rate loans ranging from 0.75% to 1.25%. In addition, a commitment fee ranging from 0.375% to 0.50% is also payable on unused commitments.
	The availability under the Credit Facility is subject to limitations based on inventory levels.
	During the thirty-nine weeks of 2014 and 2013, the Company did not have any borrowings under the Credit Facility. As of November 1, 2014 and November 2, 2013, the Company had no outstanding letter of credit obligations under the Credit Facility. The Company had $65 million available for borrowing as of November 1, 2014 and November 2, 2013, respectively.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Income/Loss	9 Months Ended
	Nov. 01, 2014
Disclosure Text Block [Abstract]	'
Comprehensive Income (Loss) Note [Text Block]	'
	Note 7. Accumulated Other Comprehensive Income (Loss)
	Accumulated other comprehensive income (loss) that the Company reports in the condensed consolidated balance sheets represents the excess of accrued pension liability over accrued benefit cost, net of taxes, associated with the Company’s defined benefit plans. Comprehensive income (loss) consists of net income or loss and the reclassification of pension costs previously reported in comprehensive income (loss) for the thirteen and thirty-nine weeks ended November 1, 2014 and November 2, 2013. Amortization of pension cost is recorded under selling, general and administrative expenses in the condensed consolidated statements of operations.

Depreciation_and_Amortization_

Depreciation and Amortization of Fixed Assets	9 Months Ended
	Nov. 01, 2014
Property, Plant and Equipment [Abstract]	'
Property, Plant and Equipment Disclosure [Text Block]	'
	Note 8. Depreciation and Amortization of Fixed Assets
	Depreciation and amortization of fixed assets included in the condensed consolidated statements of operations is as follows:
		Thirteen Weeks Ended				Thirty-nine Weeks Ended
		November 1,		November 2,		November 1,		November 2,
		2014		2013		2014		2013
		(in thousands)				(in thousands)
	Cost of sales	$	129	$	116	$	380	$	361
	Selling, general and administrative expenses		953		1,028		2,593		2,713
	Total	$	1,082	$	1,144	$	2,973	$	3,074

Income_Loss_Per_Share

Income/ Loss Per Share	9 Months Ended
	Nov. 01, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share [Text Block]	'
	Note 9. Income (Loss) Per Share
	Basic income (loss) per share is calculated by dividing net income (loss) by the weighted average common shares outstanding for the period. Diluted income per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock (net of any assumed repurchases) that then shared in the earnings of the Company, if any. It is computed by dividing net income (loss) by the sum of the weighted average shares outstanding and additional common shares that would have been outstanding if the dilutive potential common shares had been issued for the Company’s common stock awards from the Company’s Stock Award Plans.
	For the thirteen and thirty-nine week periods ended November 1, 2014 and November 2, 2013, the impact of all outstanding stock awards was not considered because the Company reported a net loss and such impact would be anti-dilutive. Accordingly, basic and diluted loss per share is the same.

Shareholders_Equity

Shareholders' Equity	9 Months Ended
	Nov. 01, 2014
Stockholders' Equity Note [Abstract]	'
Stockholders' Equity Note Disclosure [Text Block]	'
	Note 10. Shareholders’ Equity
	During the thirty-nine weeks ending November 1, 2014, the Company repurchased 688,228 shares of common stock at an average price of $3.60 per share. Since the inception of the program, the Company has repurchased 1,276,469 shares of common stock at an average price of $3.98 per share. The Company has approximately $17.0 million available for purchase under its repurchase program.
	The Company classified the repurchased shares as treasury stock on the Company’s balance sheet.
	On March 6, 2014, our board of directors declared a special cash dividend of $0.50 per common share, with an ex-dividend date of March 18, 2014. The total special dividend payout was $16.0 million.

Stock_Based_Compensation_Table

Stock Based Compensation (Tables)	9 Months Ended
	Nov. 01, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	'The table below outlines the assumptions that the Company used to estimate the fair value of stock based awards granted during the thirty-nine weeks ended November 1, 2014:
			Minimum			Maximum
	Dividend yield				0%
	Expected stock price volatility		47.00%		-	66.80%
	Risk-free interest rate		1.45%		-	2.18%
	Expected award life (in years)		4.92		-	5.71
	Weighted average fair value per share of awards granted during the period				$1.93
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]	'The following table summarizes stock award activity during the thirty-nine weeks ended November 1, 2014:
			Employee and Director Stock Award Plans
			Number of			Weighted		Weighted		Other		Weighted
			Shares			Average		Average		Share		Average
			Subject To			Exercise Price		Remaining		Awards(1)		Grant Date
			Option					Contractual Term				Fair Value
	Balance February 1, 2014			2,907,190		$	8.07		2.9		10,941	$	9.5
	Granted			492,500			3.45		9.8		226,459		3.47
	Exercised			(27,000	)		1.73		—		—		—
	Forfeited			(14,500	)		3.66		—		—		—
	Canceled			(752,590	)		10.31		—		—		—
	Balance November 1, 2014			2,605,600		$	6.64		4.28		237,400	$	3.75
	Exercisable November 1, 2014			1,736,350		$	8.2		1.93		37,400	$	3.75
		-1	Other Share Awards include deferred shares granted to Directors and restricted stock units granted to Chief Executive Officer.

Defined_Benefit_Plans_Tables

Defined Benefit Plans (Tables)	9 Months Ended
	Nov. 01, 2014
Disclosure Text Block Supplement [Abstract]	'
Schedule of Net Benefit Costs [Table Text Block]	'The following represents the components of the net periodic pension cost related to the Company’s SERP and Director Retirement Plan for the respective periods:
		Thirteen weeks ended						Thirty-nine weeks ended
		November 1,			November 2,			November 1,			November 2,
		2014			2013			2014			2013
		(in thousands)						(in thousands)
	Service cost	$	14		$	28		$	42		$	84
	Interest cost		172			164			517			492
	Amortization of prior service cost		180			181			540			543
	Amortization of net gain		(35	)		(1	)		(106	)		(3	)
	Net periodic pension cost	$	331		$	372		$	993		$	1,116

Depreciation_and_Amortization_1

Depreciation and Amortization of Fixed Assets (Tables)	9 Months Ended
	Nov. 01, 2014
Property, Plant and Equipment [Abstract]	'
Schedule of Depreciation and Amortization of Fixed Assets [Table Text Block]	'Depreciation and amortization of fixed assets included in the condensed consolidated statements of operations is as follows:
		Thirteen Weeks Ended				Thirty-nine Weeks Ended
		November 1,		November 2,		November 1,		November 2,
		2014		2013		2014		2013
		(in thousands)				(in thousands)
	Cost of sales	$	129	$	116	$	380	$	361
	Selling, general and administrative expenses		953		1,028		2,593		2,713
	Total	$	1,082	$	1,144	$	2,973	$	3,074

Nature_of_Operations_Details

Nature of Operations (Details)	12 Months Ended
	Feb. 01, 2014	Nov. 01, 2014
		sqft
Disclosure Text Block [Abstract]	'	'
Number of Stores	'	327
Area of Stores (in Square Feet)	'	1,900,000
Percentage of Annual Net Sales Recorded in the Fourth Quarter	35.00%	'

Basis_of_Presentation_Details

Basis of Presentation (Details) (USD $)	3 Months Ended		9 Months Ended
	Nov. 01, 2014	Nov. 02, 2013	Nov. 01, 2014	Nov. 02, 2013
Disclosure Text Block [Abstract]	'	'	'	'
Prior Period Reclassification Adjustment	'	'	$700,000	'
Other Income	$1,400,000	$1,600,000	$4,000,000	$4,500,000

Stock_Based_Compensation_Detai

Stock Based Compensation (Details) (USD $)	3 Months Ended
Share data in Millions, unless otherwise specified	Nov. 01, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars)	$1,000,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	'1 year 255 days
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	15.8
Share Based Compensation Arrangement By Share Based Payment Award Options And Other Than Options Outstanding Number	2.8
Share Based Compensation Arrangement By Share Based Payment Award Options And Other Than Options Vested And Expected To Vest Exercisable Number	1.8
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	3
Intrinsic Value of Stock Awards Outstanding (in Dollars)	503,000
Intrinsic Value of Stock Awards Exercisable (in Dollars)	$332,000

Stock_Based_Compensation_Detai1

Stock Based Compensation (Details) - Schedule for estimation of fair value for the stock based awards granted (USD $)	9 Months Ended
	Nov. 01, 2014
Stock Based Compensation (Details) - Schedule for estimation of fair value for the stock based awards granted [Line Items]	'
Dividend yield	0.00%
Weighted average fair value per share of awards granted during the period (in Dollars per share)	$1.93
Minimum [Member]	'
Stock Based Compensation (Details) - Schedule for estimation of fair value for the stock based awards granted [Line Items]	'
Expected stock price volatility	47.00%
Risk-free interest rate	1.45%
Expected award life (in years)	'4 years 335 days
Maximum [Member]	'
Stock Based Compensation (Details) - Schedule for estimation of fair value for the stock based awards granted [Line Items]	'
Expected stock price volatility	66.80%
Risk-free interest rate	2.18%
Expected award life (in years)	'5 years 259 days

Stock_Based_Compensation_Detai2

Stock Based Compensation (Details) - Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award (USD $)	9 Months Ended
	Nov. 01, 2014		Feb. 01, 2014
Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Abstract]	'		'
Number of Shares Subject To option, Balance	2,605,600		2,907,190
Weighted Average Exercise Price	$6.64		$8.07
Weighted Average Remaining Contractual Term	4.28		2.9
Other Share Awards, Balance	237,400	[1]	10,941	[1]
Weighted Average Grant Date Value, Balance	$3.75		$9.50
Exercisable November 1, 2014	1,736,350		'
Exercisable November 1, 2014	$8.20		'
Exercisable November 1, 2014	1.93		'
Exercisable November 1, 2014	37,400	[1]	'
Exercisable November 1, 2014	$3.75		'
Granted	226,459	[1]	'
Granted	$3.47		'
Granted	492,500		'
Granted	$3.45		'
Granted	9.8		'
Exercised	-27,000		'
Exercised	$1.73		'
Forfeited	-14,500		'
Forfeited	$3.66		'
Canceled	-752,590		'
Canceled	$10.31		'
[1]	Other Share Awards include deferred shares granted to Directors and restricted stock units granted to Chief Executive Officer.

Defined_Benefit_Plans_Details

Defined Benefit Plans (Details) (USD $)	Nov. 01, 2014
Supplemental Employee Retirement Plan [Member]	'
Defined Benefit Plans (Details) [Line Items]	'
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months	$103,000
Director Retirement Plan [Member]	'
Defined Benefit Plans (Details) [Line Items]	'
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months	$34,000

Defined_Benefit_Plans_Details_

Defined Benefit Plans (Details) - Schedule Components of Net Periodic Benefit Cost and Other Comprehensive Income Loss (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Nov. 01, 2014	Nov. 02, 2013	Nov. 01, 2014	Nov. 02, 2013
Schedule Components of Net Periodic Benefit Cost and Other Comprehensive Income Loss [Abstract]	'	'	'	'
Service cost	$14	$28	$42	$84
Interest cost	172	164	517	492
Amortization of prior service cost	180	181	540	543
Amortization of net gain	-35	-1	-106	-3
Net periodic pension cost	$331	$372	$993	$1,116

Line_of_Credit_Details

Line of Credit (Details) (USD $)	Nov. 01, 2014	Nov. 02, 2013	Nov. 01, 2014	Nov. 01, 2014	Nov. 01, 2014	Nov. 01, 2014	Nov. 01, 2014	Nov. 01, 2014
			Credit Facility [Member]	Credit Facility [Member]	Credit Facility [Member]	Credit Facility [Member]	Credit Facility [Member]	Credit Facility [Member]
			LIBOR Rate [Member]	LIBOR Rate [Member]	Base Rate [Member]	Base Rate [Member]	Minimum [Member]	Maximum [Member]
			Minimum [Member]	Maximum [Member]	Minimum [Member]	Maximum [Member]
Line of Credit (Details) [Line Items]	'	'	'	'	'	'	'	'
Line of Credit Facility, Maximum Borrowing Capacity (in Dollars)	$75,000,000	'	'	'	'	'	'	'
Debt Instrument, Basis Spread on Variable Rate	'	'	2.25%	2.75%	0.75%	1.25%	'	'
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	'	'	'	'	'	'	0.38%	0.50%
Letters of Credit Outstanding, Amount (in Dollars)	0	0	'	'	'	'	'	'
Line of Credit Facility, Current Borrowing Capacity (in Dollars)	$65,000,000	$65,000,000	'	'	'	'	'	'

Depreciation_and_Amortization_2

Depreciation and Amortization of Fixed Assets (Details) - Schedule of Depreciation and Amortization of Fixed Assets (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Nov. 01, 2014	Nov. 02, 2013	Nov. 01, 2014	Nov. 02, 2013
Schedule of Depreciation and Amortization of Fixed Assets [Abstract]	'	'	'	'
Cost of sales	$129	$116	$380	$361
Selling, general and administrative expenses	953	1,028	2,593	2,713
Total	$1,082	$1,144	$2,973	$3,074

Shareholders_Equity_Details

Shareholders' Equity (Details) (USD $)	9 Months Ended	15 Months Ended
In Millions, except Share data, unless otherwise specified	Nov. 01, 2014	Nov. 01, 2014
Shareholders' Equity (Details) [Line Items]	'	'
Stock Repurchase Program, Remaining Authorized Repurchase Amount (in Dollars)	$17	$17
Cash Dividends Payment (in Dollars)	$16	'
Common Stock [Member]	'	'
Shareholders' Equity (Details) [Line Items]	'	'
Stock Repurchased During Period, Shares (in Shares)	688,228	1,276,469
Treasury Stock Acquired, Average Cost Per Share	$3.60	$3.98
Common Stock Special Dividends Per Share Cash Paid	$0.50	'