Kaspien (KSPN) 10-Q 8 Sep 16 2016 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information	6 Months Ended
	Jul. 30, 2016shares
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	30,353,214
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	Jul. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 30, 2016	Jan. 30, 2016	Aug. 01, 2015
CURRENT ASSETS:
Cash and cash equivalents	$ 78,644	$ 104,311	$ 91,400
Merchandise inventory	120,268	120,046	124,469
Other current assets	8,971	6,630	9,560
Total current assets	207,883	230,987	225,429
NET FIXED ASSETS	34,990	30,665	21,441
OTHER ASSETS	9,662	9,953	9,363
TOTAL ASSETS	252,535	271,605	256,233
CURRENT LIABILITIES:
Accounts payable	42,753	51,888	44,217
Accrued expenses and other current liabilities	6,356	8,974	6,621
Deferred revenue	8,147	8,983	8,935
Current portion of capital lease obligations			351
Total current liabilities	57,256	69,845	60,124
OTHER LONG-TERM LIABILITIES	26,442	26,492	27,188
TOTAL LIABILITIES	83,698	96,337	87,312
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; 58,472,012, 58,395,668 and 58,337,668 shares issued, respectively)	585	584	583
Additional paid-in capital	316,782	316,040	315,778
Treasury stock at cost (28,118,798, 27,411,133 and 27,209,281 shares, respectively)	(230,144)	(227,497)	(226,826)
Accumulated other comprehensive loss	(709)	(812)	(2,027)
Retained earnings	82,323	86,953	81,413
TOTAL SHAREHOLDERS’ EQUITY	168,837	175,268	168,921
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 252,535	$ 271,605	$ 256,233

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Jul. 30, 2016	Jan. 30, 2016	Aug. 01, 2015
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	58,472,012	58,395,668	58,337,668
Treasury stock, shares at cost	28,118,798	27,411,133	27,209,281

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 30, 2016	Aug. 01, 2015	Jul. 30, 2016	Aug. 01, 2015
Net sales	$ 63,320	$ 67,451	$ 138,088	$ 145,415
Other revenue	1,028	1,088	1,990	2,288
Total revenue	64,348	68,539	140,078	147,703
Cost of sales	37,647	40,293	82,551	87,454
Gross profit	26,701	28,246	57,527	60,249
Selling, general and administrative expenses	31,223	30,806	62,734	62,132
Loss from operations	(4,522)	(2,560)	(5,207)	(1,883)
Interest expense	172	455	345	920
Other income	(86)	(14)	(1,017)	(41)
Loss before income tax expense	(4,608)	(3,001)	(4,535)	(2,762)
Income tax expense	48	44	95	89
Net loss	$ (4,656)	$ (3,045)	$ (4,630)	$ (2,851)
BASIC AND DILUTED LOSS PER SHARE:
Basic and diluted loss per share (in Dollars per share)	$ (0.15)	$ (0.10)	$ (0.15)	$ (0.09)
Weighted average number of common shares outstanding – basic and diluted (in Shares)	30,403	31,196	30,576	31,202

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 30, 2016	Aug. 01, 2015	Jul. 30, 2016	Aug. 01, 2015
Net loss	$ (4,656)	$ (3,045)	$ (4,630)	$ (2,851)
Amortization of pension costs	51	77	103	154
Comprehensive loss	$ (4,605)	$ (2,968)	$ (4,527)	$ (2,697)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jul. 30, 2016	Aug. 01, 2015
Net cash used by operating activities	$ (16,965)	$ (18,063)
Cash flows from investing activities:
Proceeds from sale of investment	1,600
Purchases of fixed assets	(7,693)	(8,073)
Net cash used by investing activities	(6,093)	(8,073)
Cash flows from financing activities:
Exercise of stock options	38
Payments of capital lease obligations		(587)
Purchase of treasury stock	(2,647)	(414)
Net cash used by financing activities	(2,609)	(1,001)
Net decrease in cash and cash equivalents	(25,667)	(27,137)
Cash and cash equivalents, beginning of period	104,311	118,537
Cash and cash equivalents, end of period	78,644	$ 91,400
Supplemental disclosures and non-cash financing activities:
Issuance of equity grants	$ 476

Nature of Operations

Nature of Operations	6 Months Ended
	Jul. 30, 2016
Disclosure Text Block [Abstract]
Nature of Operations [Text Block]	Note 1. Nature of Operations Trans World Entertainment Corporation and subsidiaries (“the Company”) is a specialty retailer of entertainment products, including video, trend, music, electronics 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, 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 2015, 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
	Jul. 30, 2016
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. During the first two quarters of 2016, the Company recorded an immaterial adjustment between Other Revenue and Selling, General and Administrative expenses in its prior year condensed consolidated financial statements for miscellaneous income, primarily related to commissions earned from third parties. The immaterial adjustment did not impact prior year loss from operations, net loss, and basic and diluted loss per share. With the adjustment, the prior year presentation is consistent with the current year presentation. The information presented in the accompanying unaudited condensed consolidated balance sheet as of January 30, 2016 has been derived from the Company’s January 30, 2016 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 July 30, 2016 and August 1, 2015. 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 30, 2016. 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 30, 2016.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	6 Months Ended
	Jul. 30, 2016
Policy Text Block [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Note 3. Recently Issued Accounting Pronouncements In 2014, the FASB issued Accounting Standard Update (“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’s fiscal year beginning January 28, 2018. Early application is 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 July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory. The amendments, which apply to inventory that is measured using any method other than the last-in, first-out (LIFO) or retail inventory method, require that entities measure inventory at the lower of cost or net realizable value. ASU 2015-11 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016 and should be applied on a prospective basis. We are currently assessing the potential impact of adopting this ASU, but do not, at this time, anticipate a material impact to our consolidated results of operations, financial positions or cash flows. In February 2016, the FASB issued ASU No. 2016-02, Leases, which will replace most existing lease accounting guidance in U.S. GAAP. The core principle of the ASU is that an entity should recognize the rights and obligations resulting from leases as assets and liabilities. The new standard requires qualitative and specific quantitative disclosures to supplement the amounts recorded in the financial statements so that users can understand more about the nature of an entity’s leasing activities, including significant judgments and changes in judgments. The new standard will be effective for the Company’s fiscal year beginning January 28, 2018, and requires the modified retrospective method of adoption. Early adoption is permitted. The Company is in the process of determining the method and timing of adoption and assessing the impact of ASU 2016-02 on its consolidated financial statements.

Stock Based Compensation

Stock Based Compensation	6 Months Ended
	Jul. 30, 2016
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 July 30, 2016, 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 2.2 years. As of July 30, 2016, stock awards authorized for issuance under the Company’s current long term equity incentive plans, totaled 8.0 million shares. There are certain authorized stock awards for which the Company no longer grants awards. Of these awards authorized for issuance, 2.4 million shares were granted and are outstanding, 1.1 million of which were vested and exercisable. Awards available for future grants at July 30, 2016 were 1.5 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 July 30, 2016: Dividend yield 0% Expected stock price volatility 39.5%-47.5% Risk-free interest rate 1.2%-1.6% Expected award life (in years) 4.92-6.98 Weighted average fair value per share of awards granted during the period $1.23 The following table summarizes stock award activity during the twenty-six weeks ended July 30, 2016: Employee and Director Stock Award Plans Number of Weighted Weighted Other Weighted Balance January 30, 2016 2,111,825 $ 4.04 5.00 211,174 $ 3.79 Granted 674,664 3.81 9.80 68,097 3.84 Canceled (629,325 ) 5.25 — — — Exercised (18,000 ) 2.09 — (70,597 ) 3.84 Balance July 30, 2016 2,139,164 $ 3.63 7.44 208,674 $ 3.79 Exercisable July 30, 2016 1,051,289 $ 3.52 5.88 51,174 $ 4.68 (1) Other Share Awards include deferred shares granted to Directors and restricted share units granted to executive officers. As of July 30, 2016, the intrinsic value of stock awards outstanding was approximately $566,000 and exercisable was $517,000.

Defined Benefit Plans

Defined Benefit Plans	6 Months Ended
	Jul. 30, 2016
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 and an immaterial Director Retirement Plan. There are no current members of the Board of Directors participating in the Director Retirement Plan. The SERP provides eligible executives defined pension benefits that supplement benefits under other retirement arrangements. During the twenty-six weeks ended July 30, 2016, the Company did not make any cash contributions to the SERP and presently expects to pay approximately $1.1 million in benefits relating to the SERP during fiscal 2016. The measurement date for the SERP and Director Retirement Plan is the 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 Twenty-six weeks ended July 30, August 1, July 30, August 1, (in thousands) (in thousands) Service cost $ 15 $ 17 $ 30 $ 34 Interest cost 137 145 274 290 Amortization of pension costs 55 86 110 172 Amortization of net gain (4 ) (9 ) (8 ) (18 ) Net periodic pension cost $ 203 $ 239 $ 406 $ 478

Line of Credit

Line of Credit	6 Months Ended
	Jul. 30, 2016
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 net 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 2016 and 2015, the Company did not have any borrowings under the Credit Facility. The Company did not have any borrowings under its Credit Facility during the last three fiscal years. As of July 30, 2016 and August 1, 2015, the Company had no outstanding letter of credit obligations under the Credit Facility. The Company had $36 million and $37 million available for borrowing as of July 30, 2016 and August 1, 2015, respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jul. 30, 2016
Disclosure Text Block [Abstract]
Comprehensive Income (Loss) Note [Text Block]	Note 7. Accumulated Other Comprehensive Loss Accumulated other comprehensive loss that the Company reports in the condensed consolidated balance sheets represents net loss, adjusted for the difference between the accrued pension liability and accrued benefit cost, net of taxes, associated with the Company’s defined benefit plans. Comprehensive loss consists of net loss and the reclassification of pension costs previously reported in comprehensive loss for the thirteen and twenty-six weeks ended July 30, 2016 and August 1, 2015.

Depreciation and Amortization o

Depreciation and Amortization of Fixed Assets	6 Months Ended
	Jul. 30, 2016
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 July 30, August 1, July 30, August 1, (in thousands) (in thousands) Cost of sales $ 98 $ 125 $ 198 $ 246 Selling, general and administrative expenses 1,623 1,047 3,086 2,011 Total $ 1,721 $ 1,172 $ 3,284 $ 2,257

Basic and Diluted Loss Per Shar

Basic and Diluted Loss Per Share	6 Months Ended
	Jul. 30, 2016
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 July 30, 2016 and August 1, 2015, 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. Total anti-dilutive stock awards for the thirteen and twenty-six weeks ended July 30, 2016 were approximately 1.6 million shares and 1.8 million shares, respectively, as compared to 1.8 million shares and 1.7 million shares, respectively, for the thirteen and twenty-six weeks ended August 1, 2015.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jul. 30, 2016
Stockholders' Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	Note 10. Shareholders’ Equity During the twenty-six weeks ended July 30, 2016, the Company repurchased 686,137 shares of common stock at an average price of $3.87 per share. Since the inception of the program, the Company has repurchased 2,558,180 shares of common stock at an average price of $3.83 per share. The Company has approximately $12.2 million available for future purchases under its repurchase program. The Company classifies the repurchased shares as treasury stock on the Company’s condensed consolidated balance sheet.

Stock Based Compensation (Table

Stock Based Compensation (Tables)	6 Months Ended
	Jul. 30, 2016
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 July 30, 2016: Dividend yield 0% Expected stock price volatility 39.5%-47.5% Risk-free interest rate 1.2%-1.6% Expected award life (in years) 4.92-6.98 Weighted average fair value per share of awards granted during the period $1.23
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable [Table Text Block]	The following table summarizes stock award activity during the twenty-six weeks ended July 30, 2016: Employee and Director Stock Award Plans Number of Weighted Weighted Other Weighted Balance January 30, 2016 2,111,825 $ 4.04 5.00 211,174 $ 3.79 Granted 674,664 3.81 9.80 68,097 3.84 Canceled (629,325 ) 5.25 — — — Exercised (18,000 ) 2.09 — (70,597 ) 3.84 Balance July 30, 2016 2,139,164 $ 3.63 7.44 208,674 $ 3.79 Exercisable July 30, 2016 1,051,289 $ 3.52 5.88 51,174 $ 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
	Jul. 30, 2016
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 Twenty-six weeks ended July 30, August 1, July 30, August 1, (in thousands) (in thousands) Service cost $ 15 $ 17 $ 30 $ 34 Interest cost 137 145 274 290 Amortization of pension costs 55 86 110 172 Amortization of net gain (4 ) (9 ) (8 ) (18 ) Net periodic pension cost $ 203 $ 239 $ 406 $ 478

Depreciation and Amortization19

Depreciation and Amortization of Fixed Assets (Tables)	6 Months Ended
	Jul. 30, 2016
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 July 30, August 1, July 30, August 1, (in thousands) (in thousands) Cost of sales $ 98 $ 125 $ 198 $ 246 Selling, general and administrative expenses 1,623 1,047 3,086 2,011 Total $ 1,721 $ 1,172 $ 3,284 $ 2,257

Nature of Operations (Details)

Nature of Operations (Details) ft² in Millions	3 Months Ended
	Jan. 31, 2016	Jul. 30, 2016ft²
Disclosure Text Block [Abstract]
Number of Stores		290
Area of Stores (in Square Feet)		1.7
Percentage of Annual Net Sales Recorded in the Fourth Quarter	35.00%

Stock Based Compensation (Detai

Stock Based Compensation (Details) shares in Millions	6 Months Ended
	Jul. 30, 2016USD ($)shares
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 73 days
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	1.1
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	1.5
Intrinsic Value of Stock Awards Outstanding (in Dollars) | $	$ 566,000
Intrinsic Value of Stock Awards Exercisable (in Dollars) | $	$ 517,000

Stock Based Compensation (Det22

Stock Based Compensation (Details) - Schedule for estimation of fair value for the stock based awards granted	6 Months Ended
	Jul. 30, 2016$ / shares
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)	$ 1.23
Minimum [Member]
Stock Based Compensation (Details) - Schedule for estimation of fair value for the stock based awards granted [Line Items]
Expected stock price volatility	39.50%
Risk-free interest rate	1.20%
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	47.50%
Risk-free interest rate	1.60%
Expected award life (in years)	6 years 357 days

Stock Based Compensation (Det23

Stock Based Compensation (Details) - Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award	6 Months Ended
	Jul. 30, 2016$ / sharesshares
Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Abstract]
Number of Shares Subject To Option	2,111,825
Weighted Average Exercise Price (in Dollars per share) | $ / shares	$ 4.04
Weighted Average Remaining Contractual Term	5
Other Share Awards	211,174	[1]
Weighted Average Grant Fair Value, Other Share Awards (in Dollars per share) | $ / shares	$ 3.79
Exercisable July 30, 2016	1,051,289
Exercisable July 30, 2016 (in Dollars per share) | $ / shares	$ 3.52
Exercisable July 30, 2016	5.88
Exercisable July 30, 2016	51,174	[1]
Exercisable July 30, 2016 (in Dollars per share) | $ / shares	$ 4.68
Granted	68,097	[1]
Granted (in Dollars per share) | $ / shares	$ 3.84
Granted	674,664
Granted (in Dollars per share) | $ / shares	$ 3.81
Granted	9.80
Canceled	(629,325)
Canceled (in Dollars per share) | $ / shares	$ 5.25
Canceled		[1]
Exercised	(18,000)
Exercised (in Dollars per share) | $ / shares	$ 2.09
Exercised	(70,597)	[1]
Exercised (in Dollars per share) | $ / shares	$ 3.84
Number of Shares Subject To Option	2,139,164
Weighted Average Exercise Price (in Dollars per share) | $ / shares	$ 3.63
Weighted Average Remaining Contractual Term	7.44
Other Share Awards	208,674	[1]
Weighted Average Grant Fair Value, Other Share Awards (in Dollars per share) | $ / shares	$ 3.79
[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) $ in Millions	Jul. 30, 2016USD ($)
Supplemental Employee Retirement Plan [Member]
Defined Benefit Plans (Details) [Line Items]
Defined Benefit Plan, Expected Future Benefit Payments, Next Twelve Months	$ 1.1

Defined Benefit Plans (Detail25

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
	Jul. 30, 2016	Aug. 01, 2015	Jul. 30, 2016	Aug. 01, 2015
Schedule Components of Net Periodic Benefit Cost and Other Comprehensive Income Loss [Abstract]
Service cost	$ 15	$ 17	$ 30	$ 34
Interest cost	137	145	274	290
Amortization of pension costs	55	86	110	172
Amortization of net gain	(4)	(9)	(8)	(18)
Net periodic pension cost	$ 203	$ 239	$ 406	$ 478

Line of Credit (Details)

Line of Credit (Details) - USD ($) $ in Millions	6 Months Ended
	Jul. 30, 2016	Aug. 01, 2015	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)	$ 36	$ 37
Credit Facility [Member] | Minimum [Member]
Line of Credit (Details) [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.375%
Credit Facility [Member] | Minimum [Member] | LIBOR Rate [Member]
Line of Credit (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate	2.25%
Credit Facility [Member] | Minimum [Member] | Base Rate [Member]
Line of Credit (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.75%
Credit Facility [Member] | Maximum [Member]
Line of Credit (Details) [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.50%
Credit Facility [Member] | Maximum [Member] | LIBOR Rate [Member]
Line of Credit (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate	2.75%
Credit Facility [Member] | Maximum [Member] | Base Rate [Member]
Line of Credit (Details) [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.25%

Depreciation and Amortization27

Depreciation and Amortization of Fixed Assets (Details) - Schedule of Depreciation and Amortization of Fixed Assets - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 30, 2016	Aug. 01, 2015	Jul. 30, 2016	Aug. 01, 2015
Schedule of Depreciation and Amortization of Fixed Assets [Abstract]
Cost of sales	$ 98	$ 125	$ 198	$ 246
Selling, general and administrative expenses	1,623	1,047	3,086	2,011
Total	$ 1,721	$ 1,172	$ 3,284	$ 2,257

Basic and Diluted Loss Per Sh28

Basic and Diluted Loss Per Share (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jul. 30, 2016	Aug. 01, 2015	Jul. 30, 2016	Aug. 01, 2015
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1.6	1.8	1.8	1.7

Shareholders' Equity (Details)

Shareholders' Equity (Details) $ / shares in Units, $ in Millions	6 Months Ended	35 Months Ended
	Jul. 30, 2016USD ($)$ / sharesshares	Jul. 30, 2016USD ($)$ / sharesshares
Common Stock [Member]
Shareholders' Equity (Details) [Line Items]
Stock Repurchased During Period, Shares	686,137
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $	$ 12.2	$ 12.2
Common Stock [Member]
Shareholders' Equity (Details) [Line Items]
Stock Repurchased During Period, Shares		2,558,180
Treasury Stock Acquired, Average Cost Per Share | $ / shares	$ 3.87	$ 3.83