Kaspien (KSPN) 10-Q 10 Sep 15 2015 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - Aug. 01, 2015 - shares	Total
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	31,128,387
Amendment Flag	false
Entity Central Index Key	795,212
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Aug. 1, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Aug. 01, 2015	Jan. 31, 2015	Aug. 02, 2014
CURRENT ASSETS:
Cash and cash equivalents	$ 91,400	$ 118,537	$ 82,401
Merchandise inventory	124,469	126,377	134,600
Other current assets	9,560	10,244	10,202
Total current assets	225,429	255,158	227,203
NET FIXED ASSETS	21,441	15,769	14,994
OTHER ASSETS	9,363	9,082	9,171
TOTAL ASSETS	256,233	280,009	251,368
CURRENT LIABILITIES:
Accounts payable	44,217	63,527	42,382
Accrued expenses and other current liabilities	6,621	7,397	7,083
Deferred revenue	8,935	9,852	9,076
Current portion of capital lease obligations	351	938	1,138
Total current liabilities	60,124	81,714	59,679
CAPITAL LEASE OBLIGATIONS, less current portion			351
OTHER LONG-TERM LIABILITIES	27,188	26,555	23,349
TOTAL LIABILITIES	$ 87,312	$ 108,269	$ 83,379
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; 58,337,668, 58,337,668 and 58,316,668 shares issued, respectively)	$ 583	$ 583	$ 583
Additional paid-in capital	315,778	315,486	315,081
Treasury stock at cost (27,209,281, 27,094,423 and 26,638,280 shares, respectively)	(226,826)	(226,412)	(224,848)
Accumulated other comprehensive (loss) income	(2,027)	(2,181)	170
Retained earnings	81,413	84,264	77,003
TOTAL SHAREHOLDERS’ EQUITY	168,921	171,740	167,989
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 256,233	$ 280,009	$ 251,368

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Aug. 01, 2015	Jan. 31, 2015	Aug. 02, 2014
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	58,337,668	58,337,668	58,316,668
Treasury stock, shares at cost	27,209,281	27,094,423	26,638,280

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 01, 2015	Aug. 02, 2014	Aug. 01, 2015	Aug. 02, 2014
Net sales	$ 67,451	$ 71,908	$ 145,415	$ 159,124
Cost of sales	40,293	43,861	87,454	98,300
Gross profit	27,158	28,047	57,961	60,824
Selling, general and administrative expenses	29,718	32,620	59,844	65,252
Loss from operations	(2,560)	(4,573)	(1,883)	(4,428)
Interest expense, net	441	476	879	960
Loss before income tax expense	(3,001)	(5,049)	(2,762)	(5,388)
Income tax expense	44	47	89	94
Net loss	$ (3,045)	$ (5,096)	$ (2,851)	$ (5,482)
BASIC AND DILUTED LOSS PER SHARE:
Basic and Diluted loss per share (in Dollars per share)	$ (0.10)	$ (0.16)	$ (0.09)	$ (0.17)
Weighted average number of common shares outstanding – basic and diluted (in Shares)	31,196	31,831	31,202	31,960

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 01, 2015	Aug. 02, 2014	Aug. 01, 2015	Aug. 02, 2014
Net loss	$ (3,045)	$ (5,096)	$ (2,851)	$ (5,482)
Amortization of pension costs	77	145	154	290
Comprehensive loss	$ (2,968)	$ (4,951)	$ (2,697)	$ (5,193)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Aug. 01, 2015	Aug. 02, 2014
Net cash used by operating activities	$ (18,063)	$ (24,798)
Cash flows from investing activities:
Purchases of fixed assets	(8,073)	(5,383)
Net cash used by investing activities	(8,073)	(5,383)
Cash flows from financing activities:
Cash dividends paid		(16,036)
Payments of capital lease obligations	(587)	(516)
Exercise of stock options		31
Purchase of treasury stock	(414)	(1,899)
Net cash used by financing activities	(1,001)	(18,420)
Net decrease in cash and cash equivalents	(27,137)	(48,601)
Cash and cash equivalents, beginning of period	118,537	131,002
Cash and cash equivalents, end of period	$ 91,400	$ 82,401

Nature of Operations

Nature of Operations	6 Months Ended
	Aug. 01, 2015
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 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, 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 2014, the fourth quarter accounted for approximately 35% of annual net sales and all of net income. 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	6 Months Ended
	Aug. 01, 2015
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. 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 and expense items, other than interest. The Company recorded miscellaneous income items of $2.8 million for the thirteen weeks ended August 1, 2015 compared to income of $1.4 million for the thirteen weeks ended August 2, 2014. For the twenty-six weeks ended August 1, 2015 and August 2, 2014, the Company recorded miscellaneous income items of $4.2 million and $2.7 million, respectively. The 2015 miscellaneous income items included a legal settlement reimbursement of $1.4 million related to previously incurred credit card fees. The information presented in the accompanying unaudited condensed consolidated balance sheet as of January 31, 2015 has been derived from the Company’s January 31, 2015 audited consolidated financial statements. All other information has been derived from the Company’s unaudited condensed consolidated financial statements as of and for the twenty-six weeks ended August 1, 2015 and August 2, 2014. 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 January 31, 2015. 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 January 31, 2015.

Recently Adopted Accounting Pro

Recently Adopted Accounting Pronouncements	6 Months Ended
	Aug. 01, 2015
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. The Company adopted ASU 2014-08 as of the beginning of fiscal 2015 and it did not have a material impact on the Company’s consolidated financial position, cash flows, or results of operations.

Stock Based Compensation

Stock Based Compensation	6 Months Ended
	Aug. 01, 2015
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 August 1, 2015, 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 2.0 years. As of August 1, 2015, stock awards authorized for issuance under the Company’s current long term equity incentive plans, totaled 8.0 million. There are certain authorized stock awards for which the Company no longer grants awards. Of these awards authorized for issuance, 2.4 million were granted and are outstanding, 1.3 million of which were vested and exercisable. Awards available for future grants at August 1, 2015 were 2.1 million. The table below outlines the assumptions that the Company used to estimate the fair value of stock based awards granted during the twenty-six weeks ended August 1, 2015: Minimum Maximum Dividend yield 0% Expected stock price volatility 40.1% - 50.2% Risk-free interest rate 1.32% - 1.94% Expected award life (in years) 5.71 - 5.71 Weighted average fair value per share of awards granted during the period $1.49 The following table summarizes stock award activity during the twenty-six weeks ended August 1, 2015: Employee and Director Stock Award Plans Number of Weighted Weighted Other Share Awards (1) Weighted Balance January 31, 2015 2,465,110 $ 6.80 3.8 237,400 $ 3.75 Granted 345,000 3.72 9.9 23,774 3.63 Canceled (668,735 ) 14.00 — — — Balance August 1, 2015 2,141,375 $ 4.06 5.4 261,174 $ 3.73 Exercisable August 1, 2015 1,258,375 $ 4.32 3.0 51,774 $ 4.68 (1) Other Share Awards include deferred shares granted to Directors and restricted share units granted to executive officers. As of August 1, 2015, the intrinsic value of stock awards outstanding was approximately $623,000 and exercisable was $498,000.

Defined Benefit Plans

Defined Benefit Plans	6 Months Ended
	Aug. 01, 2015
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 twenty-six weeks ended August 1, 2015, the Company did not make any cash contributions to the SERP and presently expects to pay approximately $182,000 in benefits relating to the SERP during fiscal 2015. 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 twenty-six weeks ended August 1, 2015, the Company did not make any cash contributions to the Director Retirement Plan, and presently expects to pay approximately $25,000 in benefits relating to the Director Retirement Plan during fiscal 2015. The measurement date for the SERP and Director Retirement Plan is the Company’s 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 Plan for the respective periods: Thirteen weeks ended Twenty-six weeks ended August 1, August 2, August 1, August 2, (in thousands) (in thousands) Service cost $ 17 $ 14 $ 34 $ 27 Interest cost 145 172 290 345 Amortization of pension costs 86 180 172 360 Amortization of net gain (1) (9 ) (35 ) (18 ) (71 ) Net periodic pension cost $ 239 $ 331 $ 478 $ 661 (1) The amortization of net gain is related to the Director Retirement Plan.

Line of Credit

Line of Credit	6 Months Ended
	Aug. 01, 2015
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 second quarters of fiscal 2015 and 2014, the Company did not have any borrowings under the Credit Facility. The Company did not have any borrowings under its Credit Facility during fiscal 2012, fiscal 2013, and fiscal 2014. As of August 1, 2015 and August 2, 2014, the Company had no outstanding letter of credit obligations under the Credit Facility. The Company had $39 million and $43 million available for borrowing as of August 1, 2015 and August 2, 2014, respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income/Loss	6 Months Ended
	Aug. 01, 2015
Disclosure Text Block [Abstract]
Comprehensive Income (Loss) Note [Text Block]	Note 7. Accumulated Other Comprehensive (Loss) Income Accumulated other comprehensive (loss) income that the Company reports in the condensed consolidated balance sheets represents the difference between the accrued pension liability and accrued benefit cost, net of taxes, associated with the Company’s defined benefit plans. Comprehensive (loss) income consists of net income and the reclassification of pension costs previously reported in comprehensive (loss) income for the thirteen and twenty-six weeks ended August 1, 2015 and August 2, 2014.

Depreciation and Amortization o

Depreciation and Amortization of Fixed Assets	6 Months Ended
	Aug. 01, 2015
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 Twenty-six Weeks Ended August 1, 2015 August 2, August 1, 2015 August 2, 2014 (in thousands) (in thousands) Cost of sales $ 125 $ 128 $ 246 $ 251 Selling, general and administrative expenses 1,047 858 2,011 1,640 Total $ 1,172 $ 986 $ 2,257 $ 1,891

Income (Loss) Per Share

Income (Loss) Per Share	6 Months Ended
	Aug. 01, 2015
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Note 9. Basic and Diluted Loss Per Share Basic loss per share is calculated by dividing net loss by the weighted average common shares outstanding for the period. Diluted loss 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 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 twenty-six week periods ended August 1, 2015 and August 2, 2014, 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	6 Months Ended
	Aug. 01, 2015
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	Note 10. Shareholders’ Equity During the second quarter, the Company repurchased 26,113 shares of common stock at an average price of $3.71 per share. Since the inception of the program, the Company has repurchased 1,688,676 shares of common stock at an average price of $3.84 per share. The Company has approximately $15.5 million available for future purchases under its repurchase program. The Company classifies the repurchased shares as treasury stock on the Company’s balance sheet.

Stock Based Compensation (Table

Stock Based Compensation (Tables)	6 Months Ended
	Aug. 01, 2015
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 twenty-six weeks ended August 1, 2015: Minimum Maximum Dividend yield 0% Expected stock price volatility 40.1% - 50.2% Risk-free interest rate 1.32% - 1.94% Expected award life (in years) 5.71 - 5.71 Weighted average fair value per share of awards granted during the period $1.49
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]	The following table summarizes stock award activity during the twenty-six weeks ended August 1, 2015: Employee and Director Stock Award Plans Number of Weighted Weighted Other Share Awards (1) Weighted Balance January 31, 2015 2,465,110 $ 6.80 3.8 237,400 $ 3.75 Granted 345,000 3.72 9.9 23,774 3.63 Canceled (668,735 ) 14.00 — — — Balance August 1, 2015 2,141,375 $ 4.06 5.4 261,174 $ 3.73 Exercisable August 1, 2015 1,258,375 $ 4.32 3.0 51,774 $ 4.68 (1) Other Share Awards include deferred shares granted to Directors and restricted share units granted to executive officers.

Defined Benefit Plans (Tables)

Defined Benefit Plans (Tables)	6 Months Ended
	Aug. 01, 2015
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 Plan for the respective periods: Thirteen weeks ended Twenty-six weeks ended August 1, August 2, August 1, August 2, (in thousands) (in thousands) Service cost $ 17 $ 14 $ 34 $ 27 Interest cost 145 172 290 345 Amortization of pension costs 86 180 172 360 Amortization of net gain (1) (9 ) (35 ) (18 ) (71 ) Net periodic pension cost $ 239 $ 331 $ 478 $ 661

Depreciation and Amortization19

Depreciation and Amortization of Fixed Assets (Tables)	6 Months Ended
	Aug. 01, 2015
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 Twenty-six Weeks Ended August 1, 2015 August 2, August 1, 2015 August 2, 2014 (in thousands) (in thousands) Cost of sales $ 125 $ 128 $ 246 $ 251 Selling, general and administrative expenses 1,047 858 2,011 1,640 Total $ 1,172 $ 986 $ 2,257 $ 1,891

Nature of Operations (Details)

Nature of Operations (Details) ft² in Millions	3 Months Ended
	Jan. 31, 2015	Aug. 01, 2015ft²
Disclosure Text Block [Abstract]
Number of Stores		308
Area of Stores (in Square Feet)		1.8
Percentage of Annual Net Sales Recorded in the Fourth Quarter	35.00%

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 01, 2015	Aug. 02, 2014	Aug. 01, 2015	Aug. 02, 2014
Disclosure Text Block [Abstract]
Other Income	$ 2.8	$ 1.4	$ 4.2	$ 2.7
Proceeds from Legal Settlements			$ 1.4

Stock Based Compensation (Detai

Stock Based Compensation (Details) - Aug. 01, 2015 - USD ($) shares in Millions	Total
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	2 years
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	8
Share Based Compensation Arrangement By Share Based Payment Award Options And Other Than Options Outstanding Number	2.4
Share Based Compensation Arrangement By Share Based Payment Award Options And Other Than Options Vested And Expected To Vest Exercisable Number	1.3
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	2.1
Intrinsic Value of Stock Awards Outstanding (in Dollars)	$ 623,000
Intrinsic Value of Stock Awards Exercisable (in Dollars)	$ 498,000

Stock Based Compensation (Det23

Stock Based Compensation (Details) - Schedule for estimation of fair value for the stock based awards granted - 6 months ended Aug. 01, 2015 - $ / shares	Total
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)	$ 1.49
Minimum [Member]
Stock Based Compensation (Details) - Schedule for estimation of fair value for the stock based awards granted [Line Items]
Expected stock price volatility	40.10%
Risk-free interest rate	1.32%
Expected award life (in years)	5 years 259 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	50.20%
Risk-free interest rate	1.94%
Expected award life (in years)	5 years 259 days

Stock Based Compensation (Det24

Stock Based Compensation (Details) - Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award - Aug. 01, 2015		$ / sharesshares
Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Abstract]
Number of Shares Subject To option, Balance		2,465,110
Weighted Average Exercise Price | $ / shares		$ 6.80
Weighted Average Remaining Contractual Term		3.8
Other Share Awards, Balance	[1]	237,400
Weighted Average Grant Date Value, Balance | $ / shares		$ 3.75
Exercisable August 1, 2015		1,258,375
Exercisable August 1, 2015 | $ / shares		$ 4.32
Exercisable August 1, 2015		3
Exercisable August 1, 2015	[1]	51,774
Exercisable August 1, 2015 | $ / shares		$ 4.68
Granted	[1]	23,774
Granted | $ / shares		$ 3.63
Granted		345,000
Granted | $ / shares		$ 3.72
Granted		9.9
Canceled		(668,735)
Canceled | $ / shares		$ 14
Number of Shares Subject To option, Balance		2,141,375
Weighted Average Exercise Price | $ / shares		$ 4.06
Weighted Average Remaining Contractual Term		5.4
Other Share Awards, Balance	[1]	261,174
Weighted Average Grant Date Value, Balance | $ / shares		$ 3.73
[1]	Other Share Awards include deferred shares granted to Directors and restricted share units granted to executive officers.

Defined Benefit Plans (Details)

Defined Benefit Plans (Details)	Aug. 01, 2015USD ($)
Supplemental Employee Retirement Plan [Member]
Defined Benefit Plans (Details) [Line Items]
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months	$ 182,000
Director Retirement Plan [Member]
Defined Benefit Plans (Details) [Line Items]
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months	$ 25,000

Defined Benefit Plans (Detail26

Defined Benefit Plans (Details) - Schedule Components of Net Periodic Benefit Cost and Other Comprehensive Income Loss - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Aug. 01, 2015	Aug. 02, 2014	Aug. 01, 2015	Aug. 02, 2014
Schedule Components of Net Periodic Benefit Cost and Other Comprehensive Income Loss [Abstract]
Service cost		$ 17	$ 14	$ 34	$ 27
Interest cost		145	172	290	345
Amortization of pension costs		86	180	172	360
Amortization of net gain(1)	[1]	(9)	(35)	(18)	(71)
Net periodic pension cost		$ 239	$ 331	$ 478	$ 661
[1]	The amortization of net gain is related to the Director Retirement Plan.

Line of Credit (Details)

Line of Credit (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 01, 2015	Aug. 02, 2014	May. 02, 2012
Line of Credit (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity (in Dollars)			$ 75
Line of Credit Facility, Current Borrowing Capacity (in Dollars)	$ 39	$ 43
Minimum [Member] | Credit Facility [Member]
Line of Credit (Details) [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.375%
Minimum [Member] | Credit Facility [Member] | LIBOR Rate [Member]
Line of Credit (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate	2.25%
Minimum [Member] | Credit Facility [Member] | Base Rate [Member]
Line of Credit (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.75%
Maximum [Member] | Credit Facility [Member]
Line of Credit (Details) [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.50%
Maximum [Member] | Credit Facility [Member] | LIBOR Rate [Member]
Line of Credit (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate	2.75%
Maximum [Member] | Credit Facility [Member] | Base Rate [Member]
Line of Credit (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.25%

Depreciation and Amortization28

Depreciation and Amortization of Fixed Assets (Details) - Schedule of Depreciation and Amortization of Fixed Assets - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 01, 2015	Aug. 02, 2014	Aug. 01, 2015	Aug. 02, 2014
Schedule of Depreciation and Amortization of Fixed Assets [Abstract]
Cost of sales	$ 125	$ 128	$ 246	$ 251
Selling, general and administrative expenses	1,047	858	2,011	1,640
Total	$ 1,172	$ 986	$ 2,257	$ 1,891

Shareholders' Equity (Details)

Shareholders' Equity (Details) - Aug. 01, 2015 - Common Stock [Member] - USD ($) $ / shares in Units, $ in Millions	Total	Total
Shareholders' Equity (Details) [Line Items]
Stock Repurchased During Period, Shares	26,113	1,688,676
Treasury Stock Acquired, Average Cost Per Share	$ 3.71	$ 3.84
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 15.5	$ 15.5