Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Jan. 28, 2017 | Apr. 11, 2017 | Jul. 30, 2016 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Jan. 28, 2017 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | SMRT | ||
Entity Registrant Name | STEIN MART INC | ||
Entity Central Index Key | 884,940 | ||
Current Fiscal Year End Date | --01-28 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 47,114,862 | ||
Entity Public Float | $ 268,018,805 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jan. 28, 2017 | Jan. 30, 2016 |
Current assets: | ||
Cash and cash equivalents | $ 10,604 | $ 11,830 |
Inventories | 291,110 | 293,608 |
Prepaid expenses and other current assets | 30,249 | 18,586 |
Total current assets | 331,963 | 324,024 |
Property and equipment, net | 165,542 | 162,954 |
Other assets | 30,344 | 29,247 |
Total assets | 527,849 | 516,225 |
Current liabilities: | ||
Accounts payable | 114,419 | 105,569 |
Current portion of long-term debt | 10,000 | 10,000 |
Accrued expenses and other current liabilities | 72,772 | 71,571 |
Total current liabilities | 197,191 | 187,140 |
Long-term debt, net of current portion | 171,792 | 180,150 |
Deferred rent | 41,774 | 41,146 |
Other liabilities | 46,832 | 31,472 |
Total liabilities | 457,589 | 439,908 |
COMMITMENTS AND CONTINGENCIES (Notes 5 and 9) | ||
Shareholders' equity: | ||
Preferred stock - $.01 par value; 1,000,000 shares authorized; no shares issued or outstanding | ||
Common stock - $.01 par value; 100,000,000 shares authorized; 47,018,942 and 45,814,583 shares issued and outstanding, respectively | 470 | 458 |
Additional paid-in capital | 50,241 | 42,801 |
Retained earnings | 19,853 | 33,337 |
Accumulated other comprehensive loss | (304) | (279) |
Total shareholders' equity | 70,260 | 76,317 |
Total liabilities and shareholders' equity | $ 527,849 | $ 516,225 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Jan. 28, 2017 | Jan. 30, 2016 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 47,018,942 | 45,814,583 |
Common stock, shares outstanding | 47,018,942 | 45,814,583 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Income Statement [Abstract] | |||
Net sales | $ 1,360,518 | $ 1,359,901 | $ 1,317,677 |
Cost of merchandise sold | 1,001,539 | 974,614 | 930,941 |
Gross profit | 358,979 | 385,287 | 386,736 |
Selling, general and administrative expenses | 355,413 | 343,724 | 342,027 |
Operating income | 3,566 | 41,563 | 44,709 |
Interest expense, net | 3,884 | 3,283 | 266 |
(Loss) Income before income taxes | (318) | 38,280 | 44,443 |
Income tax (benefit) expense | (719) | 14,569 | 17,537 |
Net income | $ 401 | $ 23,711 | $ 26,906 |
Net income per share: | |||
Basic | $ 0.01 | $ 0.52 | $ 0.60 |
Diluted | $ 0.01 | $ 0.51 | $ 0.59 |
Weighted-average shares outstanding: | |||
Basic | 45,785 | 44,754 | 43,850 |
Diluted | 46,597 | 45,953 | 44,749 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 401 | $ 23,711 | $ 26,906 |
Change in post-retirement benefit obligations (See Note 7): | |||
Other comprehensive (loss) income before reclassifications | (44) | 137 | (181) |
Amounts reclassified from accumulated other comprehensive income | 19 | 16 | 10 |
Comprehensive income | $ 376 | $ 23,864 | $ 26,735 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive (Loss) Income [Member] |
Balance at Feb. 01, 2014 | $ 264,401 | $ 446 | $ 28,745 | $ 235,471 | $ (261) |
Balance, shares at Feb. 01, 2014 | 44,552 | ||||
Net income | 26,906 | 26,906 | |||
Other comprehensive income (loss), net of tax | (171) | (171) | |||
Common shares issued under stock option plan | 116 | 116 | |||
Common shares issued under stock option plan, shares | 27 | ||||
Tax withholding payment related to the net share settlement of equity awards | (8) | (8) | |||
Common shares issued under employee stock purchase plan | 760 | 760 | |||
Common shares issued under employee stock purchase plan, shares | 65 | ||||
Reacquired shares | (4,144) | $ (3) | (4,141) | ||
Reacquired shares, shares | (320) | ||||
Issuance of restricted stock, net | $ 6 | (6) | |||
Issuance of restricted stock, net, shares | 595 | ||||
Share-based compensation | 7,596 | 7,596 | |||
Tax (shortfall) benefit from equity issuances | 1,813 | 1,813 | |||
Cash dividends paid | (12,295) | (12,295) | |||
Cash dividends payable | (36) | (36) | |||
Balance at Jan. 31, 2015 | 284,938 | $ 449 | 34,875 | 250,046 | (432) |
Balance, shares at Jan. 31, 2015 | 44,919 | ||||
Net income | 23,711 | 23,711 | |||
Other comprehensive income (loss), net of tax | 153 | 153 | |||
Common shares issued under stock option plan | 571 | $ 2 | 569 | ||
Common shares issued under stock option plan, shares | 164 | ||||
Common shares issued under employee stock purchase plan | 768 | $ 1 | 767 | ||
Common shares issued under employee stock purchase plan, shares | 112 | ||||
Reacquired shares | (3,566) | $ (3) | (3,563) | ||
Reacquired shares, shares | (262) | ||||
Issuance of restricted stock, net | $ 9 | (9) | |||
Issuance of restricted stock, net, shares | 882 | ||||
Share-based compensation | 6,516 | 6,516 | |||
Tax (shortfall) benefit from equity issuances | 3,646 | 3,646 | |||
Cash dividends paid | (239,089) | (239,089) | |||
Cash dividends payable | (1,331) | (1,331) | |||
Balance at Jan. 30, 2016 | 76,317 | $ 458 | 42,801 | 33,337 | (279) |
Balance, shares at Jan. 30, 2016 | 45,815 | ||||
Net income | 401 | 401 | |||
Other comprehensive income (loss), net of tax | (25) | (25) | |||
Common shares issued under stock option plan | $ 1,349 | $ 3 | 1,346 | ||
Common shares issued under stock option plan, shares | 276 | 276 | |||
Common shares issued under employee stock purchase plan | $ 722 | $ 1 | 721 | ||
Common shares issued under employee stock purchase plan, shares | 145 | ||||
Reacquired shares | (1,668) | $ (2) | (1,666) | ||
Reacquired shares, shares | (224) | ||||
Issuance of restricted stock, net | $ 10 | (10) | |||
Issuance of restricted stock, net, shares | 1,007 | ||||
Share-based compensation | 7,923 | 7,923 | |||
Tax (shortfall) benefit from equity issuances | (874) | (874) | |||
Cash dividends paid | (14,700) | (14,700) | |||
Cash dividends payable | 815 | 815 | |||
Balance at Jan. 28, 2017 | $ 70,260 | $ 470 | $ 50,241 | $ 19,853 | $ (304) |
Balance, shares at Jan. 28, 2017 | 47,019 |
Consolidated Statements of Sha7
Consolidated Statements of Shareholders' Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Cash dividends paid, per share | $ 0.30 | $ 5.30 | $ 0.275 |
Retained Earnings [Member] | |||
Cash dividends paid, per share | $ 0.30 | $ 5.30 | $ 0.275 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Cash flows from operating activities: | |||
Net income | $ 401 | $ 23,711 | $ 26,906 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 32,600 | 29,873 | 29,116 |
Share-based compensation | 7,923 | 6,516 | 7,596 |
Store closing charges | 145 | 7 | 25 |
Impairment of property and other assets | 1,433 | 2,008 | 1,480 |
Loss on disposal of property and equipment | 191 | 167 | 319 |
Deferred income taxes | 1,835 | (5,121) | 1,201 |
Tax (expense) benefit from equity issuances | (874) | 3,646 | 1,813 |
Excess tax benefits from share-based compensation | (86) | (3,932) | (1,942) |
Changes in assets and liabilities: | |||
Inventories | 2,498 | (7,985) | (24,106) |
Prepaid expenses and other current assets | (12,469) | 806 | 5,096 |
Other assets | (1,020) | 2,045 | (3,114) |
Accounts payable | 8,785 | (24,438) | (1,237) |
Accrued expenses and other current liabilities | 4,249 | (316) | 4,307 |
Other liabilities | 14,974 | 11,425 | 4,971 |
Net cash provided by operating activities | 60,585 | 38,412 | 52,431 |
Cash flows from investing activities: | |||
Net acquisition of property and equipment | (42,378) | (44,365) | (40,231) |
Proceeds from sale of assets | 3,178 | ||
Change in cash surrender value of life insurance | (111) | ||
Net cash used in investing activities | (39,200) | (44,365) | (40,342) |
Cash flows from financing activities: | |||
Proceeds from borrowings | 453,800 | 673,312 | |
Repayments of debt | (462,200) | (483,079) | |
Debt issuance costs | (380) | ||
Cash dividends paid | (14,700) | (239,089) | (12,295) |
Excess tax benefits from share-based compensation | 86 | 3,932 | 1,942 |
Proceeds from exercise of stock options and other | 2,071 | 1,339 | 868 |
Repurchase of common stock | (1,668) | (3,566) | (4,144) |
Net cash used in financing activities | (22,611) | (47,531) | (13,629) |
Net decrease in cash and cash equivalents | (1,226) | (53,484) | (1,540) |
Cash and cash equivalents at beginning of year | 11,830 | 65,314 | 66,854 |
Cash and cash equivalents at end of year | 10,604 | 11,830 | 65,314 |
Supplemental disclosures of cash flow information: | |||
Income taxes paid | 11,751 | 13,116 | 10,556 |
Interest paid | 3,671 | 3,033 | 345 |
Accruals and accounts payable for capital expenditures | $ 1,828 | $ 4,148 | $ 2,293 |
Summary of Significant Accounti
Summary of Significant Accounting Policies and Other Information | 12 Months Ended |
Jan. 28, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Summary of Significant Accounting Policies and Other Information | 1. Summary of Significant Accounting Policies and Other Information As of January 28, 2017 we operated a chain of 290 retail stores in 31 states and an E-commerce off-price As used herein, the terms “we,” “our,” “us” and “Stein Mart” refer to Stein Mart, Inc. and its wholly-owned subsidiaries, Stein Mart Buying Corporation and Stein Mart Holding Corporation. Consolidation. Correction of an Immaterial Error. As disclosed in Part II Item 9A, Controls and Procedures of this Annual Report on Form 10-K, we have determined that the control deficiency that led to this error constitutes a material weakness. In September 2015, we settled an administrative proceeding instituted by the Securities and Exchange Commission (“SEC”) in which the SEC ordered us to cease and desist from committing or causing any violations and any future violations of the periodic reporting, books and records, and internal control provisions of the Securities Exchange Act of 1934, as amended. By having this material weakness, and by not discovering and including disclosure of it in prior periods, we have not been in compliance with the cease and desist order. We are unable to determine the effect, if any, of the non-compliance. Fiscal Year End. Use of Estimates. Cash and Cash Equivalents. Retail Inventory Method and Inventory Valuation. cost-to-retail We perform physical inventory counts at all stores once per year, in either the summer or January. Included in the carrying value of merchandise inventories between physical counts is a reserve for estimated shrinkage. That estimate is based on historical physical inventory results. The difference between actual and estimated shrinkage may cause fluctuations in quarterly results but was not significant in 2016 and 2015. Vendor Allowances. 605-50, Revenue Recognition, Customer Payments and Incentives Property and Equipment, Net. 3-10 5-10 internal-use Impairment of Long-Lived Assets. Property, Plant and Equipment Fair Value Measurements. Fair Value Measurements and Disclosures, Level 1: Observable inputs that reflect unadjusted quoted prices for identical assets or liabilities traded in active markets. Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3: Unobservable inputs that reflect assumptions about what market participants would use in pricing assets or liabilities based on the best information available. Assets and liabilities measured at fair value on a recurring basis include cash and cash equivalents. Assets and liabilities measured on a non-recurring As our primary debt obligations are variable rate, there are no significant differences between the estimated fair value (Level 2 measurements) and the carrying value of our debt obligations at January 28, 2017 and January 30, 2016. Store Closing Costs. Exit or Disposal Cost Obligations, cease-use Accounts Payable. Insurance Reserves. Store Pre-Opening pre-opening Pre-opening set-up, pre-opening Comprehensive Income. Revenue Recognition. percentage-off E-commerce We offer electronic gift cards and electronic merchandise return cards to our customers. These cards do not have expiration dates. No revenue is recognized at the time gift cards are sold; rather, the issuance is recorded as a liability to customers. At the time merchandise return cards are issued for returned merchandise, the sale is reversed and the issuance is recorded as a liability to customers. These card liabilities are reduced and sales revenue is recognized when cards are redeemed for merchandise. Card liabilities are included within Accrued expenses and other current liabilities in the Consolidated Balance Sheets. During 2016, 2015 and 2014, we recognized $1.3 million, $1.4 million and $1.1 million, respectively, of breakage income on unused gift and merchandise return cards. Breakage income is recognized when the likelihood of the card being redeemed by the customer is remote and we have determined that there is no legal obligation to remit card balances to relevant jurisdictions. We follow the Redemption Recognition Method to account for breakage of unused cards where breakage is recognized as cards are redeemed for the purchase of merchandise based upon a historical breakage rate over an estimated redemption period. Breakage income is recorded within SG&A in the Consolidated Statements of Income. Co-Brand co-branded co-branded in-store Operating Leases. Advertising Expense. Income Taxes. Income Taxes Share-Based Compensation. Stock Compensation Earnings Per Share (“EPS”). Earnings Per Share non-forfeitable two-class non-forfeitable two-class two-class The following table presents the calculation of basic and diluted EPS (shares in thousands): 2016 2015 2014 Basic EPS: Net income $ 401 $ 23,711 $ 26,906 Income allocated to participating securities 22 368 511 Net income available to common shareholders $ 379 $ 23,343 $ 26,395 Basic weighted-average shares outstanding 45,785 44,754 43,850 Basic EPS: $ 0.01 $ 0.52 $ 0.60 Diluted EPS: Net income $ 401 $ 23,711 $ 26,906 Income allocated to participating securities 23 414 506 Net income available to common shareholders $ 378 $ 23,297 $ 26,400 Basic weighted-average shares outstanding 45,785 44,754 43,850 Incremental shares from share-based compensation plans 812 1,199 899 Diluted weighted-average shares outstanding 46,597 45,953 44,749 Diluted EPS: $ 0.01 $ 0.51 $ 0.59 Options to acquire shares and performance share awards totaling approximately 2.0 million, 0.3 million and 0.1 million shares of common stock that were outstanding during 2016, 2015 and 2014, respectively, were not included in the computation of diluted EPS as they had exercise prices greater than the average market price of the common shares. Inclusion of these shares would have been anti-dilutive. Consolidated Statements of Income Classifications. SG&A includes store operating expenses, such as payroll and benefit costs, advertising, store supplies, depreciation and other direct selling costs and costs associated with our corporate functions. Recent Accounting Pronouncements In 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) No. 2014-09 2014-09 In 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40) No. 2014-15 No. 2014-15 No. 2019-09 In 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) 2016-02 In 2016, the FASB issued ASU No. 2016-04, Liabilities-Extinguishments of Liabilities Subtopic 405-20 Recognition of Breakage for Certain Prepaid Stored-Value Products In 2016, the FASB issued ASU No. 2016-09 Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting No. 2016-09 No. 2019-09 In 2016, the FASB issued ASU No. 2016-15 Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments 2016-15 was |
Property and Equipment, Net
Property and Equipment, Net | 12 Months Ended |
Jan. 28, 2017 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment, Net | 2. Property and Equipment, Net Property and equipment, net consists of the following: January 28, 2017 January 30, 2016 Fixtures, equipment and software $ 251,351 $ 233,124 Leasehold improvements 132,495 120,782 383,846 353,906 Accumulated depreciation and amortization (218,304) (190,952) Property and equipment, net $ 165,542 $ 162,954 During 2016, 2015 and 2014, we recorded asset impairment charges in SG&A of $1.4 million, $2.0 million and $1.5 million, respectively, to reduce the carrying value of fixtures, equipment and leasehold improvements held for use and certain other assets in under-performing or closing stores to their respective estimated fair value. Store assets are considered Level 3 assets in the fair value hierarchy as the inputs for calculating the fair value of these assets are based on the best information available, including prices for similar assets. |
Accrued Expenses and Other Curr
Accrued Expenses and Other Current Liabilities | 12 Months Ended |
Jan. 28, 2017 | |
Payables and Accruals [Abstract] | |
Accrued Expenses and Other Current Liabilities | 3. Accrued Expenses and Other Current Liabilities The major components of accrued expenses and other current liabilities are as follows: January 28, January 30, 2017 2016 Compensation and employee benefits $ 11,016 $ 11,600 Unredeemed gift and merchandise return cards 11,954 11,310 Property taxes 14,274 12,286 Accrued vacation 7,715 7,306 Other 27,813 29,069 Accrued expenses and other current liabilities $ 72,772 $ 71,571 |
Long-Term Debt
Long-Term Debt | 12 Months Ended |
Jan. 28, 2017 | |
Debt Disclosure [Abstract] | |
Long-Term Debt | 4. Long-Term Debt On February 3, 2015, we entered into a $250 million senior secured revolving credit facility pursuant to a second amended and restated credit agreement with Wells Fargo Bank (the “Credit Agreement”) that will mature in February 2020 and a secured $25 million master loan agreement with Wells Fargo Equipment Finance, Inc. (the “Equipment Term Loan” and, together with the Credit Agreement, the “Credit Facilities”) that will mature in February 2018. The Credit Facilities replace the Company’s former $100 million senior secured revolving credit facility which was set to mature on February 28, 2017. Borrowings under the Credit Facilities were initially used for a special dividend, but subsequently are being used for working capital, capital expenditures and other general corporate purposes. During 2015, debt issuance costs associated with the Credit Facilities were capitalized in the amount of $0.4 million and will be amortized over their respective terms. Long-term debt consisted of the following: January 28, January 30, 2017 2016 Revolving credit facility $ 171,000 $ 169,400 Equipment term loan 10,833 20,833 Total debt 181,833 190,233 Current maturities (10,000) (10,000) Debt issuance costs (41) (83) Long-term debt $ 171,792 $ 180,150 The aggregate maturities of long-term debt subsequent to January 28, 2017 for the following fiscal years: January 28, 2017 2017 $ 10,000 2018 833 2019 - 2020 171,000 2021 - Thereafter - Total $ 181,833 The total amount available for borrowings under the Credit Agreement is the lesser of $250 million or 100% of eligible credit card receivables and the Net Recovery Percentage of inventories less reserves. At January 28, 2017, in addition to outstanding borrowings under the Credit Agreement, the Company had $7.1 million of outstanding letters of credit. Our unused availability under the Credit Agreement was $71.9 million at January 28, 2017. The Credit Facilities contain customary representations and warranties, affirmative and negative covenants (including, in the Credit Agreement, the requirement of a 1 to 1 consolidated fixed charge coverage ratio upon the occurrence and during the continuance of any Covenant Compliance Event, as defined in the Credit Agreement), and events of default for facilities of this type and are cross-collateralized and cross-defaulted. Collateral for the Credit Facilities consists of substantially all of our personal property. Wells Fargo Bank has a first lien on all collateral other than equipment and Wells Fargo Equipment Finance has a first lien on equipment. At January 28, 2017, we were in compliance with all debt covenants. Borrowings under the Credit Agreement shall be either Base Rate Loans or London Interbank Offered Rate (“LIBOR”) loans. LIBOR Loans bear interest equal to the adjusted LIBOR plus the applicable margin (125 to 175 basis points) depending on the quarterly average excess availability. Base Rate Loans bear interest equal to the highest of (a) the Federal Funds Rate plus 0.50%, (b) the Adjusted LIBOR plus 1.00%, or (c) the Wells Fargo “prime rate,” plus the Applicable Margin (25 to 75 basis points). Borrowings under the equipment term loan bear interest at the LIBOR plus 2.0%. The weighted average interest rate for amounts outstanding under the Credit Agreement and Equipment Term Loan were 2.3% and 2.8%, respectively, as of January 28, 2017. |
Leases
Leases | 12 Months Ended |
Jan. 28, 2017 | |
Leases [Abstract] | |
Leases | 5. Leases We lease all of our retail stores, support facilities and certain equipment under operating leases. Our store leases are generally for 10 years with options to extend the lease term for two or more 5-year Rent expense is as follows: 2016 2015 2014 Minimum rentals $ 92,859 $ 86,572 $ 79,054 Contingent rentals 300 373 877 Rent expense $ 93,159 $ 86,945 $ 79,931 At January 28, 2017, future contractual minimum lease payments under operating leases are: 2017 $ 98,335 2018 87,712 2019 76,757 2020 65,737 2021 55,769 Thereafter 138,458 Total $ 522,768 |
Income Taxes
Income Taxes | 12 Months Ended |
Jan. 28, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 6. Income Taxes Temporary differences, which give rise to deferred tax assets and liabilities, are as follows: January 28, January 30, 2017 2016 Deferred income tax assets: Employee benefit expense $ 13,983 $ 13,427 Inventory - 912 Deferred rents 15,874 15,636 Net operating loss carryforwards in certain states 206 163 Other 5,287 4,844 Total deferred income tax assets $ 35,350 $ 34,982 Deferred income tax liabilities: Property and equipment $ (36,230) $ (35,038) Inventory (744) - Other (1,598) (1,331) Total deferred income tax liabilities (38,572) (36,369) Net deferred income tax liabilities $ (3,222) $ (1,387) As of January 28, 2017, we had net operating losses (“NOL”) carryforwards for state income tax purposes of $2.9 million that will begin to expire in 2023. Deferred tax assets (liabilities) are reflected on the Consolidated Balance Sheets as follows: January 28, January 30, 2017 2016 Non-current $ 443 $ 408 Non-current (3,665) (1,795) Net deferred tax liability $ (3,222) $ (1,387) The components of income tax (benefit) expense are as follows: 2016 2015 2014 Current: Federal $ (2,131) $ 18,298 $ 15,475 State (423) 1,392 861 Total Current (2,554) 19,690 16,336 Deferred: Federal 1,870 (4,820) 499 State (35) (301) 702 Total Deferred 1,835 (5,121) 1,201 Income tax (benefit) expense $ (719) $ 14,569 $ 17,537 During 2016, we realized a tax shortfall of $0.9 million, and during 2015 and 2014, we realized excess tax benefits of $3.6 million and $1.8 million, respectively, related to share-based compensation plans that were recorded in additional paid-in-capital Income tax expense differs from the amount of income tax determined by applying the statutory U.S. corporate tax rate to pre-tax 2016 2015 2014 Federal tax at the statutory rate 35.0% 35.0% 35.0% State income taxes, net of federal benefit 143.7% 3.7% 3.8% Permanent differences and other 47.1% (0.6)% 0.7% Effective tax rate 225.8% 38.1% 39.5% The effective tax rate (“ETR”) represents the applicable combined federal and state statutory rates reduced by the federal benefit of state taxes deductible on federal returns, adjusted for the impact of permanent differences. The following is a reconciliation of the change in the amount of unrecognized tax benefits: 2016 2015 2014 Beginning balance $ 242 $ 341 $ 468 Decreases due to: Settlements - (99) - Lapse of statutes of limitations - - (127) Ending balance $ 242 $ 242 $ 341 As of January 28, 2017, there were no unrecognized tax benefits (“UTBs”) that, if recognized, would affect the ETR. We recognize interest and penalties related to UTBs in interest expense and penalties. During 2016, 2015, and 2014, the amount of interest and penalties related to UTBs was less than $0.1 million. The total amount of accrued interest and accrued penalties related to UTBs as of January 28, 2017, January 30, 2016 and January 31, 2015 was less than $0.1 million. We are currently open to audit under the statute of limitations by the Internal Revenue Service for the tax years 2013 through 2015. Our state tax returns are open to audit under statutes of limitations for the tax years 2011 through 2015. |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Jan. 28, 2017 | |
Postemployment Benefits [Abstract] | |
Employee Benefit Plans | 7. Employee Benefit Plans We have a defined contribution retirement plan (a 401(k) plan) covering employees who are at least 21 years of age, have completed at least one year of service and who work at least 1,000 hours annually. Under the profit sharing portion of the plan, we can make discretionary contributions which vest at a rate of 20% per year after two years of service. During 2016, 2015 and 2014, we matched 50% of an employee’s voluntary pre-tax We have an executive deferral plan providing officers, key executives and director-level employees with the opportunity to defer receipt of salary, bonus and other compensation. The plan allows for us to make discretionary contributions. During 2016, 2015, and 2014, we matched contributions up to 10% of salary and bonuses. During 2016, discretionary contributions were deferred at a rate of 50% for officers and key executives and a rate of 25% for directors. During 2015 and 2014, discretionary contributions were deferred at a rate of 75% for officers and key executives and a rate of 37.5% for directors. Matching contributions and related investment earnings for the executive deferral plan vest at 20% per year in each of years four through eight, at which time a participant is fully vested. The executive deferral plan liability was $14.5 million and $13.4 million at January 28, 2017 and January 30, 2016, respectively, and is included in Other liabilities in the Consolidated Balance Sheets. The expense for this plan, net of forfeitures, was $0.2 million and $0.1 million in 2016 and 2014, respectively. In 2015, forfeitures exceeded expense for this plan, resulting in $0.1 million of income. We provide an executive split-dollar life insurance benefit which provides officers, key executives and director-level employees with pre-retirement The post-retirement benefit obligations included in Other liabilities in the Consolidated Balance Sheets were $1.8 million and $1.7 million for 2016 and 2015, respectively. The net periodic post-retirement benefit costs for 2016, 2015 and 2014 were less than $0.1 million. Amounts included in Accumulated other comprehensive income (loss) consisted of: January 28, January 30, 2016 January 31, Total net actuarial gain (loss) $ 24 $ 68 $ (118) In connection with the executive deferral and executive split-dollar life insurance plans, whole life insurance contracts were purchased on the related participants. At January 28, 2017 and January 30, 2016, the cash surrender value of these policies was $19.8 million and $18.5 million, respectively, and is included in Other assets in the Consolidated Balance Sheets. We have a noncontributory executive retiree medical plan wherein eligible retired executives may continue their pre-retirement |
Shareholders' Equity
Shareholders' Equity | 12 Months Ended |
Jan. 28, 2017 | |
Equity [Abstract] | |
Shareholders' Equity | 8. Shareholders’ Equity Dividends In 2016, we paid a quarterly dividend of $0.075 per common share on April 15, 2016, July 15, 2016, October 14, 2016, and January 13, 2017. In 2015, we paid a special cash dividend of $5.00 per common share on February 27, 2015 and four quarterly dividends of $0.075 per common share on April 17, 2015, July 17, 2015, October 16, 2015, and January 15, 2016. In 2014, we paid a quarterly dividend of $0.05 per common share on April 18, 2014 and a quarterly dividend of $0.075 per common share on July 18, 2014, October 17, 2014 and January 16, 2015. Stock Repurchase Plan During 2016, 2015 and 2014 we repurchased 224,344 shares, 262,219 shares and 320,081 shares, respectively, of our common stock in the open market at a total cost of $1.7 million, $3.6 million and $4.1 million, respectively. Stock repurchases on the open market, under a Board of Directors authorized plan, for taxes due on the vesting of employee stock awards during 2016, 2015 and 2014 included 224,344 shares, 262,219 shares and 216,729 shares, respectively. As of January 28, 2017, there are 496,530 shares which can be repurchased pursuant to the Board of Directors’ current authorization. Employee Stock Purchase Plan We have an Employee Stock Purchase Plan (the “Stock Purchase Plan”) whereby all employees who complete six months of employment and who work on a full-time basis or are regularly scheduled to work more than 20 hours per week are eligible to participate in the Stock Purchase Plan. Participants in the Stock Purchase Plan may purchase shares of the Company’s common stock at 85% of the lower of the fair market value of the Company’s stock determined at either the beginning or the end of each semi-annual option period. Shares eligible under the Stock Purchase Plan, which is effective for the years 1997 through 2020, are limited to 2.9 million shares in the aggregate, with no more than 200,000 shares being made available in each calendar year, excluding carryover from previous years. In 2016, 2015 and 2014, the participants acquired 145,136 shares, 111,806 shares and 64,839 shares of common stock at weighted-average per share prices of $5.13, $6.87 and $11.72, respectively. The fair value of Stock Purchase Plan shares was estimated using the Black-Scholes call option value method with the following weighted-average assumptions for 2016: expected volatility of 44.75%, expected dividend yield of 4.18%, a risk-free interest rate of 0.43%, a present-value discount factor of 1.0% and an expected term of six months. Share-based compensation expense for the Stock Purchase Plan was $0.3 million, $0.3 million and $0.2 million in 2016, 2015 and 2014, respectively. We had 244,014 shares authorized and available for grant under the Stock Purchase Plan at January 28, 2017. Omnibus Plan Our Omnibus Plan provides that shares of common stock may be granted to certain Key Employees, Non-Employee non-qualified re-issuance. The following table presents the number of awards authorized and available for grant under the Omnibus Plan at January 28, 2017 (shares in thousands): Shares Total awards authorized 12,500 Awards available for grant 1,941 Stock Options In accordance with the Omnibus Plan, the exercise price of an option cannot be less than the fair value on the grant date. In general, for awards granted prior to 2014, one-third A summary of stock option information for the year ended January 28, 2017 is as follows (shares in thousands): Number of Weighted- Weighted-Average Aggregate Outstanding at January 30, 2016 1,074 $ 5.48 Granted 2,012 7.35 Exercised (276 ) 4.88 Cancelled or forfeited (918 ) 7.37 Outstanding at January 28, 2017 1,892 $ 6.64 7.4 years $ - Exercisable stock options at January 28, 2017 714 $ 5.32 5.0 years $ - The aggregate intrinsic value in the table above represents the excess of our closing stock price on January 27, 2017, the last business day of our 2016 fiscal year, ($3.65 per share) over the exercise price, multiplied by the applicable number of in-the-money in-the-money As of January 28, 2017, there was $2.3 million of unrecognized compensation cost related to stock options which is expected to be recognized over a weighted-average period of 1.7 years using the mid-point The fair value of each stock option granted during 2016, 2015 and 2014 was estimated at the date of grant using the Black-Scholes options pricing model with the following weighted-average assumptions: 2016 2015 2014 Expected term 5.6 years 4.9 years 4.4-5.3 years Risk-free interest rate 1.6% 1.3% 1.5% to 1.8% Volatility 40.3% 38.5% 43.6%-52.9% Dividend yield 4.0% 3.1% 2.2%-2.5% The expected volatility is based on the historical volatility of our stock price over assumed expected terms. The risk-free interest rate is estimated from yields of U.S. Treasury instruments of varying maturities with terms consistent with the expected terms of the options. The expected term of an option is calculated from a lattice model using historical employee exercise data. In February 2015, as a result of paying a special cash dividend, all outstanding stock options were modified to decrease the exercise price and increase the number of options in order to maintain the original grant fair value. No incremental stock compensation expense resulted from the modification. Restricted Stock and Performance Share Awards We have issued restricted stock and performance share awards to eligible Key Employees, Non-Employee The following table summarizes non-vested Restricted Stock Awards Performance Share Awards Shares Weighted- Shares Weighted- Non-vested 697 $ 11.36 592 $ 12.58 Granted 633 6.85 568 8.28 Vested (299 ) 11.17 (146 ) 11.09 Cancelled or forfeited (129 ) 9.56 (115 ) 10.44 Non-vested 902 $ 8.51 899 $ 10.39 Total unrecognized compensation cost $ 4,676 $ 4,245 Weighted-average expected life remaining 1.1 years 0.9 years The total fair value of restricted stock vested was $3.3 million, $3.0 million and $2.9 million during 2016, 2015, and 2014, respectively. The total fair value of performance awards vested was $1.6 million, $4.8 million and $8.6 during 2016, 2015, and 2014, respectively. In February 2015, as a result of paying a special cash dividend, all outstanding performance share awards were modified to increase the number of shares in order to maintain the original grant fair value. No incremental stock compensation expense resulted from the modification. The restricted stock awards were not modified because they participated in the special cash dividend. Share-Based Compensation Expense For the years ended January 28, 2017, January 30, 2016 and January 31, 2015, share-based compensation expense was recorded as follows: 2016 2015 2014 Cost of merchandise sold $ 2,551 $ 2,118 $ 2,765 Selling, general and administrative expenses 5,372 4,398 4,831 Total share-based compensation expense $ 7,923 $ 6,516 $ 7,596 The total tax benefit recognized in the Consolidated Statements of Income related to share-based compensation expense was $3.0 million, $2.5 million and $2.9 million for 2016, 2015 and 2014, respectively. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Jan. 28, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 9. Commitments and Contingencies We are involved in various routine legal proceedings incidental to the conduct of our business. While some of these matters could be material to our results of operations or cash flows for any particular period if an unfavorable outcome results, we do not believe that the ultimate resolution of currently pending legal proceedings, either individually or in the aggregate, will have a material adverse effect on our overall financial condition. During the years ended January 28, 2017 and January 30, 2016, we incurred expense of $2.0 million and $0.2 million, respectively, for legal settlements. |
Store Closing Charges
Store Closing Charges | 12 Months Ended |
Jan. 28, 2017 | |
Text Block [Abstract] | |
Store Closing Charges | 10. Store Closing Charges We close under-performing stores in the normal course of business. We closed one store in 2016, two stores in 2015, and three stores in 2014, incurring lease termination and severance costs. Lease termination costs are net of estimated sublease income that could reasonably be obtained for the properties. During 2016, we recorded net store closing costs of $0.6 million. During 2015 and 2014, we recorded a nominal amount of store closing costs, net of impairments, and net store closing costs of $1.0 million, respectively, for store closing charges. Store closing charges are included in SG&A in the Consolidated Statements of Income. The following tables show the activity in the store closing reserve: Lease- Severance Total Balance at February 1, 2014 $ 35 $ 69 $ 104 Charges 1,385 47 1,432 Payments (1,365) (64 ) (1,429 ) Balance at January 31, 2015 55 52 107 Charges 1 6 7 Payments (56) (58 ) (114 ) Balance at January 30, 2016 - - - Charges 425 175 600 Payments (425) (30 ) (455 ) Balance at January 28, 2017 $ - $ 145 $ 145 The store closing reserve at January 28, 2017 and January 31, 2015 is included in Accrued expenses and other current liabilities in the Consolidated Balance Sheets. The was no store closing reserve at January 30, 2016. |
Quarterly Results of Operations
Quarterly Results of Operations (Unaudited) | 12 Months Ended |
Jan. 28, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Results of Operations (Unaudited) | 11. Quarterly Results of Operations (Unaudited) Year Ended January 28, 2017 13 Weeks Ended 13 Weeks Ended 13 Weeks Ended 13 Weeks Ended Net sales $ 355,712 $ 319,761 $ 299,527 $ 385,518 Gross profit 108,892 89,439 72,711 87,937 Net income (loss) 13,311 3,007 (11,010 ) (4,907 ) Basic net income (loss) per share $ 0.29 $ 0.07 $ (0.24 ) $ (0.11 ) Diluted net income (loss) per share $ 0.29 $ 0.06 $ (0.24 ) $ (0.11 ) Weighted-average shares outstanding: Basic 45,595 45,719 45,845 45,981 Diluted 46,275 46,555 45,845 45,981 Year Ended January 30, 2016 13 Weeks Ended 13 Weeks Ended 13 Weeks Ended 13 Weeks Ended Net sales $ 353,521 $ 311,583 $ 300,665 $ 394,132 Gross profit 108,380 88,935 82,168 105,804 Net income (loss) 13,564 4,094 (197 ) 6,250 Basic net income (loss) per share $ 0.30 $ 0.09 $ (0.01 ) $ 0.14 Diluted net income (loss) per share $ 0.29 $ 0.09 $ (0.01 ) $ 0.13 Weighted-average shares outstanding: Basic 44,612 44,710 44,791 44,905 Diluted 45,766 45,926 44,791 46,061 The sum of the quarterly net income per share amounts may not equal the annual amount because income per share is calculated independently for each quarter. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Jan. 28, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 12. Related Party Transactions One of our directors is the majority shareholder of the legal firm that serves as our general counsel. Legal fees paid to this firm were $0.2 million in 2016, 2015 and 2014. In addition, the director also participated in our 2016, 2015 and 2014 Incentive Plans related to his role as general counsel. We leased three locations in 2014 from a company for which one of our former directors is Chairman and Chief Executive Officer. This former director did not stand for reelection at the June 2014 annual meeting. We paid approximately $0.3 million in base rent through June 2014. One of our directors, as a private investor, indirectly owned a minority interest through September 5, 2014 in the entity which operates a secure location for and maintains certain of our data processing equipment. On September 5, 2014 the entity was sold and the director and his family no longer own indirect interests. Expenses through September 5, 2014 associated with this service were $0.3 million. We entered this facility prior to our director’s investment. Our Chairman had a personal interest in a NetJets aircraft. Effective June 2, 2014, a subsidiary of the Company purchased an undivided 3.125% interest in a NetJets aircraft, and our Chairman contributed his personal NetJets contract to our subsidiary, which the subsidiary utilized as trade-in |
Summary of Significant Accoun21
Summary of Significant Accounting Policies and Other Information (Policies) | 12 Months Ended |
Jan. 28, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Consolidation | Consolidation. |
Correction of an Immaterial Error | Correction of an Immaterial Error. As disclosed in Part II Item 9A, Controls and Procedures of this Annual Report on Form 10-K, we have determined that the control deficiency that led to this error constitutes a material weakness. In September 2015, we settled an administrative proceeding instituted by the Securities and Exchange Commission (“SEC”) in which the SEC ordered us to cease and desist from committing or causing any violations and any future violations of the periodic reporting, books and records, and internal control provisions of the Securities Exchange Act of 1934, as amended. By having this material weakness, and by not discovering and including disclosure of it in prior periods, we have not been in compliance with the cease and desist order. We are unable to determine the effect, if any, of the non-compliance. |
Fiscal Year End | Fiscal Year End. |
Use of Estimates | Use of Estimates. |
Cash and Cash Equivalents | Cash and Cash Equivalents. |
Retail Inventory Method and Inventory Valuation | Retail Inventory Method and Inventory Valuation. cost-to-retail We perform physical inventory counts at all stores once per year, in either the summer or January. Included in the carrying value of merchandise inventories between physical counts is a reserve for estimated shrinkage. That estimate is based on historical physical inventory results. The difference between actual and estimated shrinkage may cause fluctuations in quarterly results but was not significant in 2016 and 2015. |
Vendor Allowances | Vendor Allowances. 605-50, Revenue Recognition, Customer Payments and Incentives |
Property and Equipment, Net | Property and Equipment, Net. 3-10 5-10 internal-use |
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets. Property, Plant and Equipment |
Fair Value Measurements | Fair Value Measurements. Fair Value Measurements and Disclosures, Level 1: Observable inputs that reflect unadjusted quoted prices for identical assets or liabilities traded in active markets. Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3: Unobservable inputs that reflect assumptions about what market participants would use in pricing assets or liabilities based on the best information available. Assets and liabilities measured at fair value on a recurring basis include cash and cash equivalents. Assets and liabilities measured on a non-recurring As our primary debt obligations are variable rate, there are no significant differences between the estimated fair value (Level 2 measurements) and the carrying value of our debt obligations at January 28, 2017 and January 30, 2016. |
Store Closing Costs | Store Closing Costs. Exit or Disposal Cost Obligations, cease-use |
Accounts Payable | Accounts Payable. |
Insurance Reserves | Insurance Reserves. |
Store Pre-Opening Costs | Store Pre-Opening Costs. pre-opening Pre-opening set-up, pre-opening |
Comprehensive Income | Comprehensive Income. |
Revenue Recognition | Revenue Recognition. percentage-off E-commerce We offer electronic gift cards and electronic merchandise return cards to our customers. These cards do not have expiration dates. No revenue is recognized at the time gift cards are sold; rather, the issuance is recorded as a liability to customers. At the time merchandise return cards are issued for returned merchandise, the sale is reversed and the issuance is recorded as a liability to customers. These card liabilities are reduced and sales revenue is recognized when cards are redeemed for merchandise. Card liabilities are included within Accrued expenses and other current liabilities in the Consolidated Balance Sheets. During 2016, 2015 and 2014, we recognized $1.3 million, $1.4 million and $1.1 million, respectively, of breakage income on unused gift and merchandise return cards. Breakage income is recognized when the likelihood of the card being redeemed by the customer is remote and we have determined that there is no legal obligation to remit card balances to relevant jurisdictions. We follow the Redemption Recognition Method to account for breakage of unused cards where breakage is recognized as cards are redeemed for the purchase of merchandise based upon a historical breakage rate over an estimated redemption period. Breakage income is recorded within SG&A in the Consolidated Statements of Income. |
Co-Brand and Private Label Credit Card Programs | Co-Brand and Private Label Credit Card Programs. co-branded co-branded in-store |
Operating Leases | Operating Leases. |
Advertising Expense | Advertising Expense. |
Income Taxes | Income Taxes. Income Taxes |
Share-Based Compensation | Share-Based Compensation. Stock Compensation |
Earnings Per Share ("EPS") | Earnings Per Share (“EPS”). Earnings Per Share non-forfeitable two-class non-forfeitable two-class two-class The following table presents the calculation of basic and diluted EPS (shares in thousands): 2016 2015 2014 Basic EPS: Net income $ 401 $ 23,711 $ 26,906 Income allocated to participating securities 22 368 511 Net income available to common shareholders $ 379 $ 23,343 $ 26,395 Basic weighted-average shares outstanding 45,785 44,754 43,850 Basic EPS: $ 0.01 $ 0.52 $ 0.60 Diluted EPS: Net income $ 401 $ 23,711 $ 26,906 Income allocated to participating securities 23 414 506 Net income available to common shareholders $ 378 $ 23,297 $ 26,400 Basic weighted-average shares outstanding 45,785 44,754 43,850 Incremental shares from share-based compensation plans 812 1,199 899 Diluted weighted-average shares outstanding 46,597 45,953 44,749 Diluted EPS: $ 0.01 $ 0.51 $ 0.59 Options to acquire shares and performance share awards totaling approximately 2.0 million, 0.3 million and 0.1 million shares of common stock that were outstanding during 2016, 2015 and 2014, respectively, were not included in the computation of diluted EPS as they had exercise prices greater than the average market price of the common shares. Inclusion of these shares would have been anti-dilutive. |
Consolidated Statements of Income Classifications | Consolidated Statements of Income Classifications. SG&A includes store operating expenses, such as payroll and benefit costs, advertising, store supplies, depreciation and other direct selling costs and costs associated with our corporate functions. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) No. 2014-09 2014-09 In 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40) No. 2014-15 No. 2014-15 No. 2019-09 In 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) 2016-02 In 2016, the FASB issued ASU No. 2016-04, Liabilities-Extinguishments of Liabilities Subtopic 405-20 Recognition of Breakage for Certain Prepaid Stored-Value Products In 2016, the FASB issued ASU No. 2016-09 Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting No. 2016-09 No. 2019-09 In 2016, the FASB issued ASU No. 2016-15 Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments 2016-15 was |
Summary of Significant Accoun22
Summary of Significant Accounting Policies and Other Information (Tables) | 12 Months Ended |
Jan. 28, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Calculation of Basic and Diluted EPS | The following table presents the calculation of basic and diluted EPS (shares in thousands): 2016 2015 2014 Basic EPS: Net income $ 401 $ 23,711 $ 26,906 Income allocated to participating securities 22 368 511 Net income available to common shareholders $ 379 $ 23,343 $ 26,395 Basic weighted-average shares outstanding 45,785 44,754 43,850 Basic EPS: $ 0.01 $ 0.52 $ 0.60 Diluted EPS: Net income $ 401 $ 23,711 $ 26,906 Income allocated to participating securities 23 414 506 Net income available to common shareholders $ 378 $ 23,297 $ 26,400 Basic weighted-average shares outstanding 45,785 44,754 43,850 Incremental shares from share-based compensation plans 812 1,199 899 Diluted weighted-average shares outstanding 46,597 45,953 44,749 Diluted EPS: $ 0.01 $ 0.51 $ 0.59 |
Property and Equipment, Net (Ta
Property and Equipment, Net (Tables) | 12 Months Ended |
Jan. 28, 2017 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment, Net | Property and equipment, net consists of the following: January 28, 2017 January 30, 2016 Fixtures, equipment and software $ 251,351 $ 233,124 Leasehold improvements 132,495 120,782 383,846 353,906 Accumulated depreciation and amortization (218,304) (190,952) Property and equipment, net $ 165,542 $ 162,954 |
Accrued Expenses and Other Cu24
Accrued Expenses and Other Current Liabilities (Tables) | 12 Months Ended |
Jan. 28, 2017 | |
Payables and Accruals [Abstract] | |
Major Components of Accrued Expenses and Other Current Liabilities | The major components of accrued expenses and other current liabilities are as follows: January 28, January 30, 2017 2016 Compensation and employee benefits $ 11,016 $ 11,600 Unredeemed gift and merchandise return cards 11,954 11,310 Property taxes 14,274 12,286 Accrued vacation 7,715 7,306 Other 27,813 29,069 Accrued expenses and other current liabilities $ 72,772 $ 71,571 |
Long-Term Debt (Tables)
Long-Term Debt (Tables) | 12 Months Ended |
Jan. 28, 2017 | |
Debt Disclosure [Abstract] | |
Summary of Long-term Debt | Long-term debt consisted of the following: January 28, January 30, 2017 2016 Revolving credit facility $ 171,000 $ 169,400 Equipment term loan 10,833 20,833 Total debt 181,833 190,233 Current maturities (10,000) (10,000) Debt issuance costs (41) (83) Long-term debt $ 171,792 $ 180,150 |
Aggregate Maturities of Long-term Debt | The aggregate maturities of long-term debt subsequent to January 28, 2017 for the following fiscal years: January 28, 2017 2017 $ 10,000 2018 833 2019 - 2020 171,000 2021 - Thereafter - Total $ 181,833 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Jan. 28, 2017 | |
Leases [Abstract] | |
Rent Expense | Rent expense is as follows: 2016 2015 2014 Minimum rentals $ 92,859 $ 86,572 $ 79,054 Contingent rentals 300 373 877 Rent expense $ 93,159 $ 86,945 $ 79,931 |
Future Contractual Minimum Lease Payments Under Operating Leases | At January 28, 2017, future contractual minimum lease payments under operating leases are: 2017 $ 98,335 2018 87,712 2019 76,757 2020 65,737 2021 55,769 Thereafter 138,458 Total $ 522,768 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Jan. 28, 2017 | |
Income Tax Disclosure [Abstract] | |
Deferred Tax Assets and Liabilities | Temporary differences, which give rise to deferred tax assets and liabilities, are as follows: January 28, January 30, 2017 2016 Deferred income tax assets: Employee benefit expense $ 13,983 $ 13,427 Inventory - 912 Deferred rents 15,874 15,636 Net operating loss carryforwards in certain states 206 163 Other 5,287 4,844 Total deferred income tax assets $ 35,350 $ 34,982 Deferred income tax liabilities: Property and equipment $ (36,230) $ (35,038) Inventory (744) - Other (1,598) (1,331) Total deferred income tax liabilities (38,572) (36,369) Net deferred income tax liabilities $ (3,222) $ (1,387) |
Deferred Tax Assets (Liabilities) Reflection on Consolidated Balance Sheets | Deferred tax assets (liabilities) are reflected on the Consolidated Balance Sheets as follows: January 28, January 30, 2017 2016 Non-current $ 443 $ 408 Non-current (3,665) (1,795) Net deferred tax liability $ (3,222) $ (1,387) |
Components of Income Tax (Benefit) Expense | The components of income tax (benefit) expense are as follows: 2016 2015 2014 Current: Federal $ (2,131) $ 18,298 $ 15,475 State (423) 1,392 861 Total Current (2,554) 19,690 16,336 Deferred: Federal 1,870 (4,820) 499 State (35) (301) 702 Total Deferred 1,835 (5,121) 1,201 Income tax (benefit) expense $ (719) $ 14,569 $ 17,537 |
Determination of Income Tax by Applying Statutory U.S. Corporate Tax Rate to Pre-Tax Amounts | Income tax expense differs from the amount of income tax determined by applying the statutory U.S. corporate tax rate to pre-tax 2016 2015 2014 Federal tax at the statutory rate 35.0% 35.0% 35.0% State income taxes, net of federal benefit 143.7% 3.7% 3.8% Permanent differences and other 47.1% (0.6)% 0.7% Effective tax rate 225.8% 38.1% 39.5% |
Reconciliation of Change in Amount of Unrecognized Tax Benefits | The following is a reconciliation of the change in the amount of unrecognized tax benefits: 2016 2015 2014 Beginning balance $ 242 $ 341 $ 468 Decreases due to: Settlements - (99) - Lapse of statutes of limitations - - (127) Ending balance $ 242 $ 242 $ 341 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 12 Months Ended |
Jan. 28, 2017 | |
Postemployment Benefits [Abstract] | |
Summary of Amounts Included in Accumulated Other Comprehensive Income (Loss) | Amounts included in Accumulated other comprehensive income (loss) consisted of: January 28, January 30, 2016 January 31, Total net actuarial gain (loss) $ 24 $ 68 $ (118) |
Shareholders' Equity (Tables)
Shareholders' Equity (Tables) | 12 Months Ended |
Jan. 28, 2017 | |
Equity [Abstract] | |
Number of Awards Authorized and Available for Grant Under Omnibus Plan | The following table presents the number of awards authorized and available for grant under the Omnibus Plan at January 28, 2017 (shares in thousands): Shares Total awards authorized 12,500 Awards available for grant 1,941 |
Summary of Stock Option Information | A summary of stock option information for the year ended January 28, 2017 is as follows (shares in thousands): Number of Weighted- Weighted-Average Aggregate Outstanding at January 30, 2016 1,074 $ 5.48 Granted 2,012 7.35 Exercised (276 ) 4.88 Cancelled or forfeited (918 ) 7.37 Outstanding at January 28, 2017 1,892 $ 6.64 7.4 years $ - Exercisable stock options at January 28, 2017 714 $ 5.32 5.0 years $ - |
Summary of Fair Value of Stock Option with Weighted Average Assumption | The fair value of each stock option granted during 2016, 2015 and 2014 was estimated at the date of grant using the Black-Scholes options pricing model with the following weighted-average assumptions: 2016 2015 2014 Expected term 5.6 years 4.9 years 4.4-5.3 years Risk-free interest rate 1.6% 1.3% 1.5% to 1.8% Volatility 40.3% 38.5% 43.6%-52.9% Dividend yield 4.0% 3.1% 2.2%-2.5% |
Summarizes Non-Vested Stock Activity | The following table summarizes non-vested Restricted Stock Awards Performance Share Awards Shares Weighted- Shares Weighted- Non-vested 697 $ 11.36 592 $ 12.58 Granted 633 6.85 568 8.28 Vested (299 ) 11.17 (146 ) 11.09 Cancelled or forfeited (129 ) 9.56 (115 ) 10.44 Non-vested 902 $ 8.51 899 $ 10.39 Total unrecognized compensation cost $ 4,676 $ 4,245 Weighted-average expected life remaining 1.1 years 0.9 years |
Pre-Tax Share-Based Compensation Expense | For the years ended January 28, 2017, January 30, 2016 and January 31, 2015, share-based compensation expense was recorded as follows: 2016 2015 2014 Cost of merchandise sold $ 2,551 $ 2,118 $ 2,765 Selling, general and administrative expenses 5,372 4,398 4,831 Total share-based compensation expense $ 7,923 $ 6,516 $ 7,596 |
Store Closing Charges (Tables)
Store Closing Charges (Tables) | 12 Months Ended |
Jan. 28, 2017 | |
Text Block [Abstract] | |
Summary of Store Closing Reserve Activity | The following tables show the activity in the store closing reserve: Lease- Severance Total Balance at February 1, 2014 $ 35 $ 69 $ 104 Charges 1,385 47 1,432 Payments (1,365) (64 ) (1,429 ) Balance at January 31, 2015 55 52 107 Charges 1 6 7 Payments (56) (58 ) (114 ) Balance at January 30, 2016 - - - Charges 425 175 600 Payments (425) (30 ) (455 ) Balance at January 28, 2017 $ - $ 145 $ 145 |
Quarterly Results of Operatio31
Quarterly Results of Operations (Unaudited) (Tables) | 12 Months Ended |
Jan. 28, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Results of Operations | Year Ended January 28, 2017 13 Weeks Ended 13 Weeks Ended 13 Weeks Ended 13 Weeks Ended Net sales $ 355,712 $ 319,761 $ 299,527 $ 385,518 Gross profit 108,892 89,439 72,711 87,937 Net income (loss) 13,311 3,007 (11,010 ) (4,907 ) Basic net income (loss) per share $ 0.29 $ 0.07 $ (0.24 ) $ (0.11 ) Diluted net income (loss) per share $ 0.29 $ 0.06 $ (0.24 ) $ (0.11 ) Weighted-average shares outstanding: Basic 45,595 45,719 45,845 45,981 Diluted 46,275 46,555 45,845 45,981 Year Ended January 30, 2016 13 Weeks Ended 13 Weeks Ended 13 Weeks Ended 13 Weeks Ended Net sales $ 353,521 $ 311,583 $ 300,665 $ 394,132 Gross profit 108,380 88,935 82,168 105,804 Net income (loss) 13,564 4,094 (197 ) 6,250 Basic net income (loss) per share $ 0.30 $ 0.09 $ (0.01 ) $ 0.14 Diluted net income (loss) per share $ 0.29 $ 0.09 $ (0.01 ) $ 0.13 Weighted-average shares outstanding: Basic 44,612 44,710 44,791 44,905 Diluted 45,766 45,926 44,791 46,061 |
Summary of Significant Accoun32
Summary of Significant Accounting Policies and Other Information - Additional Information (Detail) shares in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 28, 2017USD ($)StoreStates | Oct. 29, 2016USD ($) | Jul. 30, 2016USD ($) | Apr. 30, 2016USD ($) | Jan. 30, 2016USD ($) | Oct. 31, 2015USD ($) | Aug. 01, 2015USD ($) | May 02, 2015USD ($) | Jan. 28, 2017USD ($)StoreStatesshares | Jan. 30, 2016USD ($)shares | Jan. 31, 2015USD ($)shares | |
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Number of retail stores | Store | 290 | 290 | |||||||||
Number of states in which retail stores are operated | States | 31 | 31 | |||||||||
Immaterial Error Correction | Corrected an immaterial prior period error in establishing our reserve for aged inventory in 2015 and 2014 fiscal years. The error was the result of reporting logic that inadvertently excluded items from the aged inventory listing used to calculate our reserve for aged inventory. The error was quantified and corrected with a one-time charge of $1.8 million during the fourth quarter of fiscal 2016 resulting in an out-of-period increase to Cost of merchandise sold and a decrease to Gross profit of $2.4 million and $1.8 million for the quarter and fiscal year ended January 28, 2017, respectively, on the Consolidated Statements of Income. The after-tax effect was $1.5 million and $1.1 million for the quarter and fiscal year ended January 28, 2017, respectively, on the Consolidated Statements of Income. The effect of this error on the Consolidated Statements of Income for the fiscal years ended January 30, 2016 and January 31, 2015, was an increase to Cost of merchandise sold and a decrease to Gross profit of $0.7 million, and $1.3 million, respectively. The after-tax effect was $0.4 million and $0.8 million, respectively, on the Consolidated Statements of Income, and such amounts are immaterial to those fiscal years. | ||||||||||
Cost of merchandise sold | $ 1,001,539,000 | $ 974,614,000 | $ 930,941,000 | ||||||||
Gross profit (loss) | $ 87,937,000 | $ 72,711,000 | $ 89,439,000 | $ 108,892,000 | $ 105,804,000 | $ 82,168,000 | $ 88,935,000 | $ 108,380,000 | 358,979,000 | 385,287,000 | 386,736,000 |
Net income | (4,907,000) | $ (11,010,000) | $ 3,007,000 | $ 13,311,000 | 6,250,000 | $ (197,000) | $ 4,094,000 | $ 13,564,000 | $ 401,000 | 23,711,000 | 26,906,000 |
Credit card transactions maximum settlement terms | 5 days | ||||||||||
Credit and debit card receivables | 8,000,000 | 9,100,000 | $ 8,000,000 | 9,100,000 | |||||||
Money market fund investments | 0 | 0 | 0 | 0 | |||||||
Accounts payable includes book cash overdrafts | 14,100,000 | $ 7,500,000 | 14,100,000 | 7,500,000 | |||||||
Breakage unused gift and merchandise revenue recognized | 1,300,000 | 1,400,000 | 1,100,000 | ||||||||
Recognized income from co-brand and private label credit card programs | 12,600,000 | 5,600,000 | 4,800,000 | ||||||||
Advertising expense | $ 59,600,000 | $ 57,500,000 | $ 56,300,000 | ||||||||
Antidilutive options and market based performance shares | shares | 2 | 0.3 | 0.1 | ||||||||
Restatement Adjustment [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Cost of merchandise sold | 2,400,000 | $ 700,000 | |||||||||
Gross profit (loss) | $ (1,800,000) | $ (1,300,000) | |||||||||
Net income | $ 1,500,000 | $ 1,100,000 | $ 400,000 | $ 800,000 | |||||||
Minimum [Member] | Fixtures [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Estimated useful lives | 3 years | ||||||||||
Minimum [Member] | Equipment [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Estimated useful lives | 3 years | ||||||||||
Minimum [Member] | Software [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Estimated useful lives | 3 years | ||||||||||
Minimum [Member] | Leasehold Improvements [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Estimated useful lives | 5 years | ||||||||||
Maximum [Member] | Fixtures [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Estimated useful lives | 10 years | ||||||||||
Maximum [Member] | Equipment [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Estimated useful lives | 10 years | ||||||||||
Maximum [Member] | Software [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Estimated useful lives | 10 years | ||||||||||
Maximum [Member] | Leasehold Improvements [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Estimated useful lives | 10 years |
Summary of Significant Accoun33
Summary of Significant Accounting Policies and Other Information - Calculation of Basic and Diluted Earning Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 28, 2017 | Oct. 29, 2016 | Jul. 30, 2016 | Apr. 30, 2016 | Jan. 30, 2016 | Oct. 31, 2015 | Aug. 01, 2015 | May 02, 2015 | Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Basic EPS: | |||||||||||
Net income | $ (4,907) | $ (11,010) | $ 3,007 | $ 13,311 | $ 6,250 | $ (197) | $ 4,094 | $ 13,564 | $ 401 | $ 23,711 | $ 26,906 |
Income allocated to participating securities | 22 | 368 | 511 | ||||||||
Net income available to common shareholders | $ 379 | $ 23,343 | $ 26,395 | ||||||||
Basic weighted-average shares outstanding | 45,981 | 45,845 | 45,719 | 45,595 | 44,905 | 44,791 | 44,710 | 44,612 | 45,785 | 44,754 | 43,850 |
Basic EPS: | $ (0.11) | $ (0.24) | $ 0.07 | $ 0.29 | $ 0.14 | $ (0.01) | $ 0.09 | $ 0.30 | $ 0.01 | $ 0.52 | $ 0.60 |
Diluted EPS: | |||||||||||
Net income | $ (4,907) | $ (11,010) | $ 3,007 | $ 13,311 | $ 6,250 | $ (197) | $ 4,094 | $ 13,564 | $ 401 | $ 23,711 | $ 26,906 |
Income allocated to participating securities | 23 | 414 | 506 | ||||||||
Net income available to common shareholders | $ 378 | $ 23,297 | $ 26,400 | ||||||||
Basic weighted-average shares outstanding | 45,981 | 45,845 | 45,719 | 45,595 | 44,905 | 44,791 | 44,710 | 44,612 | 45,785 | 44,754 | 43,850 |
Incremental shares from share-based compensation plans | 812 | 1,199 | 899 | ||||||||
Diluted weighted-average shares outstanding | 45,981 | 45,845 | 46,555 | 46,275 | 46,061 | 44,791 | 45,926 | 45,766 | 46,597 | 45,953 | 44,749 |
Diluted EPS: | $ (0.11) | $ (0.24) | $ 0.06 | $ 0.29 | $ 0.13 | $ (0.01) | $ 0.09 | $ 0.29 | $ 0.01 | $ 0.51 | $ 0.59 |
Property and Equipment, Net - P
Property and Equipment, Net - Property and Equipment, Net (Detail) - USD ($) $ in Thousands | Jan. 28, 2017 | Jan. 30, 2016 |
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 383,846 | $ 353,906 |
Accumulated depreciation and amortization | (218,304) | (190,952) |
Property and equipment, net | 165,542 | 162,954 |
Fixtures, Equipment and Software [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | 251,351 | 233,124 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 132,495 | $ 120,782 |
Property and Equipment, Net - A
Property and Equipment, Net - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |||
Net pre-tax asset impairment charges | $ 1,433 | $ 2,008 | $ 1,480 |
Accrued Expenses and Other Cu36
Accrued Expenses and Other Current Liabilities - Major Components of Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands | Jan. 28, 2017 | Jan. 30, 2016 |
Accrued Liabilities and Other Liabilities [Abstract] | ||
Compensation and employee benefits | $ 11,016 | $ 11,600 |
Unredeemed gift and merchandise return cards | 11,954 | 11,310 |
Property taxes | 14,274 | 12,286 |
Accrued vacation | 7,715 | 7,306 |
Other | 27,813 | 29,069 |
Accrued expenses and other current liabilities | $ 72,772 | $ 71,571 |
Long-Term Debt - Additional Inf
Long-Term Debt - Additional Information (Detail) - USD ($) | Feb. 03, 2015 | Jan. 28, 2017 | Jan. 30, 2016 |
Debt Instrument [Line Items] | |||
Debt issuance costs | $ 41,000 | $ 83,000 | |
Borrowing capacity covenant, percentage of credit card receivables and net recovery of inventories | 100.00% | ||
Letters of credit, outstanding | $ 7,100,000 | ||
Remaining borrowing capacity under line of credit facility | $ 71,900,000 | ||
Fixed charges coverage ratio | 1 | ||
Equipment Term Loan [Member] | |||
Debt Instrument [Line Items] | |||
Credit facility maximum borrowing capacity | $ 25,000,000 | ||
Credit facility agreement expiration date | Feb. 28, 2018 | ||
Weighted average interest rate on debt amounts outstanding | 2.80% | ||
Credit Agreement [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 0.50% | ||
Terms of credit agreement | Base Rate Loans bear interest equal to the highest of (a) the Federal Funds Rate plus 0.50%, (b) the Adjusted LIBOR plus 1.00%, or (c) the Wells Fargo "prime rate," plus the Applicable Margin (25 to 75 basis points). | ||
Weighted average interest rate on debt amounts outstanding | 2.30% | ||
Former Senior Secured Revolving Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Credit facility maximum borrowing capacity | $ 100,000,000 | ||
Credit facility agreement expiration date | Feb. 28, 2017 | ||
Wells Fargo Bank [Member] | Credit Agreement [Member] | |||
Debt Instrument [Line Items] | |||
Credit facility maximum borrowing capacity | $ 250,000,000 | ||
Credit facility agreement expiration date | Feb. 28, 2020 | ||
London Interbank Offered Rate (LIBOR) [Member] | Equipment Term Loan [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 2.00% | ||
London Interbank Offered Rate (LIBOR) [Member] | Credit Agreement [Member] | |||
Debt Instrument [Line Items] | |||
Debt instrument interest rate | 1.00% |
Long-Term Debt - Summary of Lon
Long-Term Debt - Summary of Long-term Debt (Detail) - USD ($) $ in Thousands | Jan. 28, 2017 | Jan. 30, 2016 |
Debt Disclosure [Abstract] | ||
Revolving credit facility | $ 171,000 | $ 169,400 |
Equipment term loan | 10,833 | 20,833 |
Total | 181,833 | 190,233 |
Total | 181,833 | 190,233 |
Current maturities | (10,000) | (10,000) |
Debt issuance costs | (41) | (83) |
Long-term debt | $ 171,792 | $ 180,150 |
Long-Term Debt - Aggregate Matu
Long-Term Debt - Aggregate Maturities of Long-term Debt (Detail) - USD ($) $ in Thousands | Jan. 28, 2017 | Jan. 30, 2016 |
Debt Disclosure [Abstract] | ||
2,017 | $ 10,000 | |
2,018 | 833 | |
2,019 | 0 | |
2,020 | 171,000 | |
2,021 | 0 | |
Thereafter | 0 | |
Total | $ 181,833 | $ 190,233 |
Leases - Additional Information
Leases - Additional Information (Detail) | 12 Months Ended |
Jan. 28, 2017 | |
Operating Leased Assets [Line Items] | |
Lease term | 10 years |
Maximum [Member] | |
Operating Leased Assets [Line Items] | |
Length of lease extension | 5 years |
Leases - Rent Expense (Detail)
Leases - Rent Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Leases [Abstract] | |||
Minimum rentals | $ 92,859 | $ 86,572 | $ 79,054 |
Contingent rentals | 300 | 373 | 877 |
Rent expense | $ 93,159 | $ 86,945 | $ 79,931 |
Leases - Future Contractual Min
Leases - Future Contractual Minimum Lease Payments Under Operating Leases (Detail) $ in Thousands | Jan. 28, 2017USD ($) |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |
2,017 | $ 98,335 |
2,018 | 87,712 |
2,019 | 76,757 |
2,020 | 65,737 |
2,021 | 55,769 |
Thereafter | 138,458 |
Total | $ 522,768 |
Income Taxes - Deferred Tax Ass
Income Taxes - Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Jan. 28, 2017 | Jan. 30, 2016 |
Deferred income tax assets: | ||
Employee benefit expense | $ 13,983 | $ 13,427 |
Inventory | 912 | |
Deferred rents | 15,874 | 15,636 |
Net operating loss carryforwards in certain states | 206 | 163 |
Other | 5,287 | 4,844 |
Total deferred income tax assets | 35,350 | 34,982 |
Deferred income tax liabilities: | ||
Property and equipment | (36,230) | (35,038) |
Inventory | (744) | |
Other | (1,598) | (1,331) |
Total deferred income tax liabilities | (38,572) | (36,369) |
Net deferred income tax liabilities | $ (3,222) | $ (1,387) |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Income Tax Examination [Line Items] | |||
Realized excess tax benefits (shortfall) related to share-based compensation plans | $ (874,000) | $ 3,646,000 | $ 1,813,000 |
Unrecognized tax benefit | 0 | ||
Maximum [Member] | |||
Income Tax Examination [Line Items] | |||
Interest and penalties related to unrecognized tax benefits | 100,000 | 100,000 | 100,000 |
Accrued interest and accrued penalties related to unrecognized tax benefits | 100,000 | $ 100,000 | $ 100,000 |
State and Local Jurisdiction [Member] | |||
Income Tax Examination [Line Items] | |||
Operating loss carry forward | $ 2,900,000 | ||
Operating loss carry forward, expiration year | 2,023 |
Income Taxes - Deferred Tax A45
Income Taxes - Deferred Tax Assets (Liabilities) Reflection on Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands | Jan. 28, 2017 | Jan. 30, 2016 |
Schedule Of Components Of Deferred Tax Assets And Liabilities On Balance Sheet Classification Basis [Line Items] | ||
Net deferred income tax liabilities | $ (3,222) | $ (1,387) |
Other Current Assets [Member] | ||
Schedule Of Components Of Deferred Tax Assets And Liabilities On Balance Sheet Classification Basis [Line Items] | ||
Non-current deferred tax assets (included in other assets) | 443 | 408 |
Other Liabilities [Member] | ||
Schedule Of Components Of Deferred Tax Assets And Liabilities On Balance Sheet Classification Basis [Line Items] | ||
Non-current deferred tax liabilities (included in other liabilities) | $ (3,665) | $ (1,795) |
Income Taxes - Components of In
Income Taxes - Components of Income Tax (Benefit) Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Current: | |||
Federal | $ (2,131) | $ 18,298 | $ 15,475 |
State | (423) | 1,392 | 861 |
Total Current | (2,554) | 19,690 | 16,336 |
Deferred: | |||
Federal | 1,870 | (4,820) | 499 |
State | (35) | (301) | 702 |
Total Deferred | 1,835 | (5,121) | 1,201 |
Income tax (benefit) expense | $ (719) | $ 14,569 | $ 17,537 |
Income Taxes - Determination of
Income Taxes - Determination of Income Tax by Applying Statutory U.S. Corporate Tax Rate to Pre-Tax Amounts (Detail) | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Income Tax Disclosure [Abstract] | |||
Federal tax at the statutory rate | 35.00% | 35.00% | 35.00% |
State income taxes, net of federal benefit | 143.70% | 3.70% | 3.80% |
Permanent differences and other | 47.10% | (0.60%) | 0.70% |
Effective tax rate | 225.80% | 38.10% | 39.50% |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of Change in Amount of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Income Tax Disclosure [Abstract] | |||
Beginning balance | $ 242 | $ 341 | $ 468 |
Decreases due to: | |||
Settlements | 0 | (99) | |
Lapse of statutes of limitations | 0 | (127) | |
Ending balance | $ 242 | $ 242 | $ 341 |
Employee Benefit Plans - Additi
Employee Benefit Plans - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | |||
Minimum age of employees for contribution retirement plan | 21 years | ||
Minimum service period criteria to be eligible for plan | 1 year | ||
Minimum service period in hour criteria to be eligible for plan | 1000 hours | ||
Employer discretionary contribution percentage under plan | 20.00% | ||
Period of employees service after which Employer Discretionary Contribution payable | 2 years | ||
Employee's voluntary pre-tax contributions | 50.00% | 50.00% | 50.00% |
Employee's compensation for voluntary pre-tax contributions | 4.00% | 4.00% | 4.00% |
Company contributions to the retirement plan, net of forfeitures | $ 1,800,000 | $ 1,800,000 | $ 1,800,000 |
Employers contribution towards plan | 10.00% | 10.00% | 10.00% |
Percent vested per year until fully vested in matching contributions | 20.00% | 20.00% | 20.00% |
Contributions and related investment earnings vest, description | Matching contributions and related investment earnings for the executive deferral plan vest at 20% per year in each of years four through eight, at which time a participant is fully vested. | ||
Deferred compensation plan liability | $ 14,500,000 | $ 13,400,000 | |
Deferred compensation program income (expense), net of forfeitures | $ (200,000) | $ 100,000 | $ (100,000) |
Curtailment and settlement benefit obligation discount rate | 4.00% | 4.15% | |
Post-retirement benefit obligations | $ 1,800,000 | $ 1,700,000 | |
Cash surrender value | $ 19,800,000 | 18,500,000 | |
Age for availing pre-retirement medical, dental and vision benefits | 65 years | ||
Defined Benefit Postretirement Health Coverage [Member] | |||
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | |||
Deferred compensation plan liability | $ 900,000 | 800,000 | |
Change in post-retirement (income) loss obligations | $ 0 | (100,000) | |
Minimum [Member] | |||
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | |||
Contributions and related investment earnings vest | 4 years | ||
Pre-retirement life insurance protection based multiplier | 3 | ||
Maximum [Member] | |||
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | |||
Contributions and related investment earnings vest | 8 years | ||
Pre-retirement life insurance protection based multiplier | 5 | ||
Net periodic post-retirement benefit cost | $ 100,000 | 100,000 | 100,000 |
Maximum [Member] | Defined Benefit Postretirement Health Coverage [Member] | |||
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | |||
Net periodic post-retirement benefit cost | $ 100,000 | $ 100,000 | $ 100,000 |
Officers and Key Executives [Member] | |||
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | |||
Employers contribution towards plan | 50.00% | 75.00% | 75.00% |
Director [Member] | |||
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items] | |||
Employers contribution towards plan | 25.00% | 37.50% | 37.50% |
Employee Benefit Plans - Summar
Employee Benefit Plans - Summary of Amounts Included in Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 |
Compensation and Retirement Disclosure [Abstract] | |||
Total net actuarial gain (loss) | $ 24 | $ 68 | $ (118) |
Shareholders' Equity - Addition
Shareholders' Equity - Additional Information (Detail) - USD ($) | Jan. 13, 2017 | Oct. 14, 2016 | Jul. 15, 2016 | Apr. 15, 2016 | Jan. 15, 2016 | Oct. 16, 2015 | Jul. 17, 2015 | Apr. 17, 2015 | Feb. 27, 2015 | Jan. 16, 2015 | Oct. 17, 2014 | Jul. 18, 2014 | Apr. 18, 2014 | Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 |
Schedule of Shareholders' Equity [Line Items] | ||||||||||||||||
Dividends declared and cash paid per share | $ 0.075 | $ 0.075 | $ 0.075 | $ 0.075 | $ 0.075 | $ 0.075 | $ 0.075 | $ 0.075 | $ 5 | $ 0.075 | $ 0.075 | $ 0.075 | $ 0.050 | $ 0.30 | $ 5.30 | $ 0.275 |
Repurchase of shares | 224,344 | 262,219 | 320,081 | |||||||||||||
Repurchase shares value | $ 1,700,000 | $ 3,600,000 | $ 4,100,000 | |||||||||||||
Expected volatility | 40.30% | 38.50% | ||||||||||||||
Dividend yield | 4.00% | 3.10% | ||||||||||||||
Risk-free interest rate | 1.60% | 1.30% | ||||||||||||||
Expected option term | 5 years 7 months 6 days | 4 years 10 months 24 days | ||||||||||||||
Share-based compensation expense | $ 7,923,000 | $ 6,516,000 | $ 7,596,000 | |||||||||||||
Weighted-average grant-date fair value of options granted | $ 2.36 | $ 2.50 | $ 4.57 | |||||||||||||
Income tax benefit | $ 719,000 | $ (14,569,000) | $ (17,537,000) | |||||||||||||
Total tax benefit recognized in consolidated statements of Income related to share-based compensation expense | $ 3,000,000 | 2,500,000 | $ 2,900,000 | |||||||||||||
Minimum [Member] | ||||||||||||||||
Schedule of Shareholders' Equity [Line Items] | ||||||||||||||||
Expected volatility | 43.60% | |||||||||||||||
Dividend yield | 2.20% | |||||||||||||||
Risk-free interest rate | 1.50% | |||||||||||||||
Expected option term | 4 years 4 months 24 days | |||||||||||||||
Maximum [Member] | ||||||||||||||||
Schedule of Shareholders' Equity [Line Items] | ||||||||||||||||
Expected volatility | 52.90% | |||||||||||||||
Dividend yield | 2.50% | |||||||||||||||
Risk-free interest rate | 1.80% | |||||||||||||||
Expected option term | 5 years 3 months 18 days | |||||||||||||||
Stock Options [Member] | ||||||||||||||||
Schedule of Shareholders' Equity [Line Items] | ||||||||||||||||
Award vesting period | 5 years | |||||||||||||||
Stock option exercisable terms and conditions | One-third of the awards vest on each of the third, fourth and fifth anniversary dates of grant. Awards granted subsequent to 2013 generally vest monthly in equal amounts over a five-year period. The awards expire seven to ten years after the date of grant. | |||||||||||||||
Closing stock price per share | $ 3.65 | |||||||||||||||
Money option outstanding | $ 0 | |||||||||||||||
Aggregate intrinsic value of outstanding and exercisable stock options | 0 | |||||||||||||||
Unrecognized compensation cost | $ 2,300,000 | |||||||||||||||
Shares, Weighted-average expected life remaining | 1 year 8 months 12 days | |||||||||||||||
Total intrinsic value of stock options exercised | $ 600,000 | 900,000 | $ 300,000 | |||||||||||||
Income tax benefit | 200,000 | 200,000 | 100,000 | |||||||||||||
Incremental share based compensation | $ 0 | |||||||||||||||
Stock Options [Member] | Minimum [Member] | ||||||||||||||||
Schedule of Shareholders' Equity [Line Items] | ||||||||||||||||
Expiration period of options | 7 years | |||||||||||||||
Stock Options [Member] | Maximum [Member] | ||||||||||||||||
Schedule of Shareholders' Equity [Line Items] | ||||||||||||||||
Expiration period of options | 10 years | |||||||||||||||
Restricted Stock and Performance Share Awards [Member] | Minimum [Member] | ||||||||||||||||
Schedule of Shareholders' Equity [Line Items] | ||||||||||||||||
Award vesting period | 3 years | |||||||||||||||
Restricted Stock and Performance Share Awards [Member] | Maximum [Member] | ||||||||||||||||
Schedule of Shareholders' Equity [Line Items] | ||||||||||||||||
Award vesting period | 5 years | |||||||||||||||
Restricted Stock Awards [Member] | ||||||||||||||||
Schedule of Shareholders' Equity [Line Items] | ||||||||||||||||
Total fair value, vested | $ 3,300,000 | 3,000,000 | 2,900,000 | |||||||||||||
Restricted Stock Awards [Member] | Maximum [Member] | ||||||||||||||||
Schedule of Shareholders' Equity [Line Items] | ||||||||||||||||
Shares, Weighted-average expected life remaining | 1 year 1 month 6 days | |||||||||||||||
Performance Share Awards [Member] | ||||||||||||||||
Schedule of Shareholders' Equity [Line Items] | ||||||||||||||||
Total fair value, vested | $ 1,600,000 | $ 4,800,000 | $ 8,600,000 | |||||||||||||
Performance Share Awards [Member] | Minimum [Member] | ||||||||||||||||
Schedule of Shareholders' Equity [Line Items] | ||||||||||||||||
Shares, Weighted-average expected life remaining | 10 months 24 days | |||||||||||||||
Employee Stock Purchase Plan [Member] | ||||||||||||||||
Schedule of Shareholders' Equity [Line Items] | ||||||||||||||||
Completion period for ESOP participation eligibility | 6 months | |||||||||||||||
Regular scheduled period for ESOP participation eligibility | 20 hours | |||||||||||||||
Discount for participants under stock purchase plan | 85.00% | |||||||||||||||
Number of shares authorized under plan | 2,900,000 | |||||||||||||||
Number of shares available each year | 200,000 | |||||||||||||||
Shares acquired by participants | 145,136 | 111,806 | 64,839 | |||||||||||||
Weighted average price per share | $ 5.13 | $ 6.87 | $ 11.72 | |||||||||||||
Expected volatility | 44.75% | |||||||||||||||
Dividend yield | 4.18% | |||||||||||||||
Risk-free interest rate | 0.43% | |||||||||||||||
Present value discount factor | 1.00% | |||||||||||||||
Expected option term | 6 months | |||||||||||||||
Share-based compensation expense | $ 300,000 | $ 300,000 | $ 200,000 | |||||||||||||
Shares authorized under the Stock Purchase Plan | 244,014 | |||||||||||||||
Board of Directors [Member] | ||||||||||||||||
Schedule of Shareholders' Equity [Line Items] | ||||||||||||||||
Repurchase of shares | 224,344 | 262,219 | 216,729 | |||||||||||||
Repurchase of shares, remaining | 496,530 |
Shareholders' Equity - Number o
Shareholders' Equity - Number of Awards Authorized and Available for Grant Under Omnibus Plan (Detail) - Omnibus Plan [Member] | Jan. 28, 2017shares |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Total awards authorized | 12,500,000 |
Awards available for grant | 1,941,000 |
Shareholders' Equity - Summary
Shareholders' Equity - Summary of Stock Option Information (Detail) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended |
Jan. 28, 2017USD ($)$ / sharesshares | |
Equity [Abstract] | |
Number of Shares, Outstanding at January 30, 2016 | shares | 1,074 |
Number of Shares, Granted | shares | 2,012 |
Number of Shares, Exercised | shares | (276) |
Number of Shares, Cancelled or forfeited | shares | (918) |
Number of Shares, Outstanding at January 28, 2017 | shares | 1,892 |
Number of Shares, Exercisable stock options at January 28, 2017 | shares | 714 |
Weighted-Average Exercise Price, Outstanding at January 30, 2016 | $ / shares | $ 5.48 |
Weighted-Average Exercise Price, Granted | $ / shares | 7.35 |
Weighted-Average Exercise Price, Exercised | $ / shares | 4.88 |
Weighted-Average Exercise Price, Cancelled or forfeited | $ / shares | 7.37 |
Weighted-Average Exercise Price, Outstanding at January 28, 2017 | $ / shares | 6.64 |
Weighted-Average Exercise Price, Exercisable stock options at January 28, 2017 | $ / shares | $ 5.32 |
Weighted-Average Remaining Contractual Term, Outstanding at January 28, 2017 | 7 years 4 months 24 days |
Weighted-Average Remaining Contractual Term, Exercisable stock options at January 28, 2017 | 5 years |
Aggregate Intrinsic Value, Outstanding at January 28, 2017 | $ | $ 0 |
Aggregate Intrinsic Value, Exercisable stock options at January 28, 2017 | $ | $ 0 |
Shareholders' Equity - Summar54
Shareholders' Equity - Summary of Fair Value of Stock Option with Weighted Average Assumption (Detail) | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Schedule of Shareholders' Equity [Line Items] | |||
Expected term | 5 years 7 months 6 days | 4 years 10 months 24 days | |
Risk-free interest rate | 1.60% | 1.30% | |
Volatility | 40.30% | 38.50% | |
Dividend yield | 4.00% | 3.10% | |
Minimum [Member] | |||
Schedule of Shareholders' Equity [Line Items] | |||
Expected term | 4 years 4 months 24 days | ||
Risk-free interest rate | 1.50% | ||
Volatility | 43.60% | ||
Dividend yield | 2.20% | ||
Maximum [Member] | |||
Schedule of Shareholders' Equity [Line Items] | |||
Expected term | 5 years 3 months 18 days | ||
Risk-free interest rate | 1.80% | ||
Volatility | 52.90% | ||
Dividend yield | 2.50% |
Shareholders' Equity - Summariz
Shareholders' Equity - Summarizes Non-Vested Stock Activity (Detail) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended |
Jan. 28, 2017USD ($)$ / sharesshares | |
Restricted Stock Awards [Member] | |
Schedule of Shareholders' Equity [Line Items] | |
Shares, Non-vested, Beginning Balance | shares | 697 |
Shares, Granted | shares | 633 |
Shares, Vested | shares | (299) |
Shares, Cancelled or forfeited | shares | (129) |
Shares, Non-vested, Ending Balance | shares | 902 |
Shares, Total unrecognized compensation cost | $ | $ 4,676 |
Weighted-Average Grant Date Fair Value, Non-vested Beginning Balance | $ / shares | $ 11.36 |
Weighted-Average Grant Date Fair Value, Granted | $ / shares | 6.85 |
Weighted-Average Grant Date Fair Value, Vested | $ / shares | 11.17 |
Weighted-Average Grant Date Fair Value, Cancelled or forfeited | $ / shares | 9.56 |
Weighted Average Grant Date Fair Value, Non-vested Ending Balance | $ / shares | $ 8.51 |
Restricted Stock Awards [Member] | Maximum [Member] | |
Schedule of Shareholders' Equity [Line Items] | |
Shares, Weighted-average expected life remaining | 1 year 1 month 6 days |
Performance Share Awards [Member] | |
Schedule of Shareholders' Equity [Line Items] | |
Shares, Non-vested, Beginning Balance | shares | 592 |
Shares, Granted | shares | 568 |
Shares, Vested | shares | (146) |
Shares, Cancelled or forfeited | shares | (115) |
Shares, Non-vested, Ending Balance | shares | 899 |
Shares, Total unrecognized compensation cost | $ | $ 4,245 |
Weighted-Average Grant Date Fair Value, Non-vested Beginning Balance | $ / shares | $ 12.58 |
Weighted-Average Grant Date Fair Value, Granted | $ / shares | 8.28 |
Weighted-Average Grant Date Fair Value, Vested | $ / shares | 11.09 |
Weighted-Average Grant Date Fair Value, Cancelled or forfeited | $ / shares | 10.44 |
Weighted Average Grant Date Fair Value, Non-vested Ending Balance | $ / shares | $ 10.39 |
Performance Share Awards [Member] | Minimum [Member] | |
Schedule of Shareholders' Equity [Line Items] | |
Shares, Weighted-average expected life remaining | 10 months 24 days |
Shareholders' Equity - Pre-Tax
Shareholders' Equity - Pre-Tax Share-Based Compensation Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Total share-based compensation expense | $ 7,923 | $ 6,516 | $ 7,596 |
Cost of Merchandise Sold [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Total share-based compensation expense | 2,551 | 2,118 | 2,765 |
Selling, General and Administrative Expenses [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Total share-based compensation expense | $ 5,372 | $ 4,398 | $ 4,831 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Jan. 28, 2017 | Jan. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | ||
Legal settlements expense | $ 2 | $ 0.2 |
Store Closing Charges - Additio
Store Closing Charges - Additional Information (Detail) | 12 Months Ended | |||
Jan. 28, 2017USD ($)Store | Jan. 30, 2016USD ($)Store | Jan. 31, 2015USD ($)Store | Feb. 01, 2014USD ($) | |
Store Closing Charges [Abstract] | ||||
Number of closed stores | Store | 1 | 2 | 3 | |
Net pre tax charges for store closing charges | $ 600,000 | $ 1,000,000 | $ 1,000,000 | |
Store closing reserve | $ 145,000 | $ 0 | $ 107,000 | $ 104,000 |
Store Closing Charges - Summary
Store Closing Charges - Summary of Store Closing Reserve Activity (Detail) - USD ($) | 12 Months Ended | ||
Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Store Closing Charges [Line Items] | |||
Beginning Balance | $ 0 | $ 107,000 | $ 104,000 |
Charges | 600,000 | 7,000 | 1,432,000 |
Payments | (455,000) | (114,000) | (1,429,000) |
Ending Balance | 145,000 | 0 | 107,000 |
Lease Related [Member] | |||
Store Closing Charges [Line Items] | |||
Beginning Balance | 55,000 | 35,000 | |
Charges | 425,000 | 1,000 | 1,385,000 |
Payments | (425,000) | (56,000) | (1,365,000) |
Ending Balance | 55,000 | ||
Severance and Other [Member] | |||
Store Closing Charges [Line Items] | |||
Beginning Balance | 52,000 | 69,000 | |
Charges | 175,000 | 6,000 | 47,000 |
Payments | (30,000) | $ (58,000) | (64,000) |
Ending Balance | $ 145,000 | $ 52,000 |
Quarterly Results of Operatio60
Quarterly Results of Operations (Unaudited) - Quarterly Results of Operations (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 28, 2017 | Oct. 29, 2016 | Jul. 30, 2016 | Apr. 30, 2016 | Jan. 30, 2016 | Oct. 31, 2015 | Aug. 01, 2015 | May 02, 2015 | Jan. 28, 2017 | Jan. 30, 2016 | Jan. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Net sales | $ 385,518 | $ 299,527 | $ 319,761 | $ 355,712 | $ 394,132 | $ 300,665 | $ 311,583 | $ 353,521 | $ 1,360,518 | $ 1,359,901 | $ 1,317,677 |
Gross profit | 87,937 | 72,711 | 89,439 | 108,892 | 105,804 | 82,168 | 88,935 | 108,380 | 358,979 | 385,287 | 386,736 |
Net income (loss) | $ (4,907) | $ (11,010) | $ 3,007 | $ 13,311 | $ 6,250 | $ (197) | $ 4,094 | $ 13,564 | $ 401 | $ 23,711 | $ 26,906 |
Basic net income (loss) per share | $ (0.11) | $ (0.24) | $ 0.07 | $ 0.29 | $ 0.14 | $ (0.01) | $ 0.09 | $ 0.30 | $ 0.01 | $ 0.52 | $ 0.60 |
Diluted net income (loss) per share | $ (0.11) | $ (0.24) | $ 0.06 | $ 0.29 | $ 0.13 | $ (0.01) | $ 0.09 | $ 0.29 | $ 0.01 | $ 0.51 | $ 0.59 |
Weighted-average shares outstanding: | |||||||||||
Basic | 45,981 | 45,845 | 45,719 | 45,595 | 44,905 | 44,791 | 44,710 | 44,612 | 45,785 | 44,754 | 43,850 |
Diluted | 45,981 | 45,845 | 46,555 | 46,275 | 46,061 | 44,791 | 45,926 | 45,766 | 46,597 | 45,953 | 44,749 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) $ in Millions | 12 Months Ended | |||
Jan. 28, 2017USD ($) | Jan. 30, 2016USD ($) | Jan. 31, 2015USD ($)Location | Jun. 02, 2014USD ($) | |
Schedule of Other Related Party Transactions [Line Items] | ||||
Number of locations leased | Location | 3 | |||
Base rent amounts paid, leased space and other lease-related services | $ 0.3 | |||
Undivided interest percentage in NetJets aircraft by subsidiary | 3.125% | |||
Trade-in credit amount utilized with NetJets aircraft | $ 0.1 | |||
Legal Services [Member] | Director [Member] | ||||
Schedule of Other Related Party Transactions [Line Items] | ||||
Expenses, services from related party | $ 0.2 | $ 0.2 | 0.2 | |
Data Processing Equipment [Member] | Director [Member] | ||||
Schedule of Other Related Party Transactions [Line Items] | ||||
Expenses, services from related party | $ 0.3 |