Stein Mart (SMRTQ) 10-Q 4 Dec 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Nov. 02, 2019	Nov. 29, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Nov. 2, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Registrant Name	STEIN MART INC
Entity Central Index Key	0000884940
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--02-01
Entity Filer Category	Non-accelerated Filer
Trading Symbol	SMRT
Entity Common Stock, Shares Outstanding		48,174,038
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Small Business	true
Entity File Number	0-20052
Entity Tax Identification Number	640466198
Entity Address, Address Line One	1200 Riverplace Blvd.
Entity Address, City or Town	Jacksonville
Entity Address, State or Province	Florida
Entity Address, Postal Zip Code	32207
City Area Code	904
Local Phone Number	346-1500

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands		Nov. 02, 2019	Feb. 02, 2019	Nov. 03, 2018
Current assets:
Cash and cash equivalents		$ 12,953	$ 9,049	$ 13,884
Inventories		307,124	255,884	305,010
Prepaid expenses and other current assets		23,368	28,326	35,638
Total current assets		343,445	293,259	354,532
Property and equipment, net of accumulated depreciation and amortization of $270,205, $251,793 and $249,705, respectively		108,781	119,740	129,683
Operating lease assets		361,168
Other assets		25,949	24,108	24,594
Total assets		839,343	437,107	508,809
Current liabilities:
Accounts payable		126,541	89,646	122,019
Current portion of operating lease liabilities		80,936
Accrued expenses and other current liabilities		80,223	77,650	82,043
Total current liabilities		287,700	167,296	204,062
Long-term debt	[1]	170,292	153,253	190,657
Deferred rent			39,708	40,558
Noncurrent operating lease liabilities		316,890
Other liabilities		32,554	33,897	35,982
Total liabilities		807,436	394,154	471,259
COMMITMENTS AND CONTINGENCIES (Note 9)
Shareholders’ equity:
Preferred stock - $0.01 par value, 1,000,000 shares authorized; no shares issued or outstanding
Common stock - $0.01 par value; 100,000,000 shares authorized; 48,194,610, 47,874,286 and 47,898,068 shares issued and outstanding, respectively		482	479	479
Additional paid-in capital		61,504	60,172	59,009
Retained deficit		(30,283)	(17,951)	(21,706)
Accumulated other comprehensive income (loss)		204	253	(232)
Total shareholders’ equity		31,907	42,953	37,550
Total liabilities and shareholders’ equity		$ 839,343	$ 437,107	$ 508,809
[1]	As of the periods presented above, all debt is considered to be long-term.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Aug. 03, 2019	Feb. 02, 2019	Aug. 04, 2018
Statement Of Financial Position [Abstract]
Accumulated depreciation and amortization	$ 270,205	$ 251,793	$ 249,705
Preferred stock, par value	$ 0.01	$ 0.01	$ 0.01
Preferred stock, shares authorized	1,000,000	1,000,000	1,000,000
Preferred stock, shares issued	0	0	0
Preferred stock, shares outstanding	0	0	0
Common stock, par value	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000	100,000,000
Common stock, shares issued	48,194,610	47,874,286	47,898,068
Common stock, shares outstanding	48,194,610	47,874,286	47,898,068

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 02, 2019	Nov. 03, 2018	Nov. 02, 2019	Nov. 03, 2018
Income Statement [Abstract]
Net sales	$ 276,132	$ 279,047	$ 882,658	$ 916,511
Other revenue	4,291	3,814	13,479	11,765
Total revenue	280,423	282,861	896,137	928,276
Cost of merchandise sold	206,721	209,286	651,122	671,426
Selling, general and administrative expenses	83,285	86,626	247,891	258,071
Operating loss	(9,583)	(13,051)	(2,876)	(1,221)
Interest expense, net	2,306	3,078	7,024	8,406
Loss before income taxes	(11,889)	(16,129)	(9,900)	(9,627)
Income tax expense	203	171	308	291
Net loss	$ (12,092)	$ (16,300)	$ (10,208)	$ (9,918)
Net loss per common share:
Basic and Diluted	$ (0.25)	$ (0.35)	$ (0.22)	$ (0.21)
Weighted-average shares outstanding:
Basic and Diluted	47,545	46,743	47,354	46,674

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Nov. 02, 2019	Nov. 03, 2018	Nov. 02, 2019	Nov. 03, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (12,092)	$ (16,300)	$ (10,208)	$ (9,918)
Other comprehensive (loss) income, net of tax:
Amounts reclassified from accumulated other comprehensive loss	(17)	5	(49)	14
Comprehensive loss	$ (12,109)	$ (16,295)	$ (10,257)	$ (9,904)

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 Deficit [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance at Feb. 03, 2018	$ 44,393	$ 480	$ 56,002	$ (11,843)	$ (246)
Balance, shares at Feb. 03, 2018		47,978
Net (loss) income	7,334			7,334
Other comprehensive income (loss), net of tax	4				4
Reacquired shares, net	(37)	$ (1)	(36)
Reacquired shares, net, shares		(45)
Issuance of restricted stock, net, shares		(23)
Share-based compensation	995		995
Dividends, net of forfeitures	8			8
Balance at May. 05, 2018	52,697	$ 479	56,961	(4,501)	(242)
Balance, shares at May. 05, 2018		47,910
Balance at Feb. 03, 2018	44,393	$ 480	56,002	(11,843)	(246)
Balance, shares at Feb. 03, 2018		47,978
Net (loss) income	(9,918)
Balance at Nov. 03, 2018	37,550	$ 479	59,009	(21,706)	(232)
Balance, shares at Nov. 03, 2018		47,898
Balance at May. 05, 2018	52,697	$ 479	56,961	(4,501)	(242)
Balance, shares at May. 05, 2018		47,910
Net (loss) income	(952)			(952)
Other comprehensive income (loss), net of tax	5				5
Common shares issued under employee stock purchase plan	90	$ 1	89
Common shares issued under employee stock purchase plan, shares		92
Reacquired shares, net	(10)		(10)
Reacquired shares, net, shares		(3)
Issuance of restricted stock, net		$ (1)	1
Issuance of restricted stock, net, shares		(61)
Share-based compensation	847		847
Dividends, net of forfeitures	34			34
Balance at Aug. 04, 2018	52,711	$ 479	57,888	(5,419)	(237)
Balance, shares at Aug. 04, 2018		47,938
Net (loss) income	(16,300)			(16,300)
Other comprehensive income (loss), net of tax	5				5
Reacquired shares, net	(10)		(10)
Reacquired shares, net, shares		(4)
Issuance of restricted stock, net, shares		(36)
Share-based compensation	1,131		1,131
Dividends, net of forfeitures	13			13
Balance at Nov. 03, 2018	37,550	$ 479	59,009	(21,706)	(232)
Balance, shares at Nov. 03, 2018		47,898
Balance at Feb. 02, 2019	42,953	$ 479	60,172	(17,951)	253
Balance, shares at Feb. 02, 2019		47,874
Net (loss) income	3,969			3,969
Other comprehensive income (loss), net of tax	(16)				(16)
Reacquired shares, net	(103)	$ (1)	(102)
Reacquired shares, net, shares		(87)
Issuance of restricted stock, net		$ 3	(3)
Issuance of restricted stock, net, shares		278
Share-based compensation	730		730
Dividends, net of forfeitures	5			5
Balance at May. 04, 2019	45,405	$ 481	60,797	(16,110)	237
Balance, shares at May. 04, 2019		48,065
Balance at Feb. 02, 2019	42,953	$ 479	60,172	(17,951)	253
Balance, shares at Feb. 02, 2019		47,874
Net (loss) income	(10,208)
Balance at Nov. 02, 2019	31,907	$ 482	61,504	(30,283)	204
Balance, shares at Nov. 02, 2019		48,195
Adjustment for adoption of accounting standard	(2,133)			(2,133)
Balance at May. 04, 2019	45,405	$ 481	60,797	(16,110)	237
Balance, shares at May. 04, 2019		48,065
Net (loss) income	(2,085)			(2,085)
Other comprehensive income (loss), net of tax	(16)				(16)
Common shares issued under employee stock purchase plan	107	$ 1	106
Common shares issued under employee stock purchase plan, shares		147
Reacquired shares, net	(11)		(11)
Reacquired shares, net, shares		(12)
Issuance of restricted stock, net, shares		26
Share-based compensation	316		316
Dividends, net of forfeitures	1			1
Balance at Aug. 03, 2019	43,717	$ 482	61,208	(18,194)	221
Balance, shares at Aug. 03, 2019		48,226
Net (loss) income	(12,092)			(12,092)
Other comprehensive income (loss), net of tax	(17)				(17)
Reacquired shares, net	(6)		(6)
Reacquired shares, net, shares		(8)
Issuance of restricted stock, net, shares		(23)
Share-based compensation	302		302
Dividends, net of forfeitures	3			3
Balance at Nov. 02, 2019	$ 31,907	$ 482	$ 61,504	$ (30,283)	$ 204
Balance, shares at Nov. 02, 2019		48,195

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Nov. 02, 2019	Nov. 03, 2018
Cash flows from operating activities:
Net loss	$ (10,208)	$ (9,918)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	21,220	23,799
Share-based compensation	1,348	2,973
Store closing benefits	(31)	(180)
Impairment of property and other assets	11	693
Loss on disposal of property and equipment	44	137
Changes in assets and liabilities:
Inventories	(51,240)	(34,773)
Prepaid expenses and other current assets	4,159	(9,018)
Other assets	(5,348)	(1,882)
Accounts payable	36,976	2,559
Accrued expenses and other current liabilities	1,046	3,977
Operating lease assets and liabilities, net	(3,640)
Other liabilities	(4,197)	(3,928)
Net cash used in operating activities	(9,860)	(25,561)
Cash flows from investing activities:
Net acquisition of property and equipment	(5,145)	(7,379)
Proceeds from canceled corporate owned life insurance policies	2,900	2,514
Proceeds from insurance claims	82	296
Net cash used in investing activities	(2,163)	(4,569)
Cash flows from financing activities:
Proceeds from borrowings	305,032	1,033,415
Repayments of debt	(288,132)	(997,990)
Debt issuance costs		(1,146)
Cash dividends paid	(91)	(147)
Capital lease payments	(869)	(551)
Proceeds from exercise of stock options	107	90
Repurchase of common stock	(120)	(57)
Net cash provided by financing activities	15,927	33,614
Net increase in cash and cash equivalents	3,904	3,484
Cash and cash equivalents at beginning of year	9,049	10,400
Cash and cash equivalents at end of period	12,953	13,884
Supplemental disclosures of cash flow information:
Income taxes paid (received)	117	(332)
Interest paid	6,696	7,758
Accruals and accounts payable for capital expenditures	$ 558	$ 324

Basis of Presentation

Basis of Presentation	9 Months Ended
	Nov. 02, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation The accompanying Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for annual audited financial statements. In our opinion, all adjustments (consisting primarily of normal and recurring adjustments) considered necessary for a fair presentation have been included. Due to the seasonality of our business, results for any quarter are not necessarily indicative of the results that may be achieved for a full fiscal year. These Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended February 2, 2019, filed with the Securities and Exchange Commission (“SEC”) on March 28, 2019. As used herein, the terms “we,” “our,” “us” and “Stein Mart” refer to Stein Mart, Inc. and its wholly-owned subsidiaries. Recently Adopted Accounting Standards In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-02, Leases At transition, we elected the package of practical expedients, which allowed us to carry forward the historical lease classification, to not reassess prior conclusions related to initial direct costs, and to not reassess whether any expired or existing contracts are or contain leases. We did not elect the use of hindsight to determine the term of our leases at transition. We also elected the practical expedient to not separate non-lease components from the lease components to which they relate and instead to combine them and account for them as a single lease component. We made an accounting policy election not to capitalize leases with an initial term of twelve months or less. Adoption of the new standard had a significant effect on our Consolidated Balance Sheets due to the addition of operating lease assets of $382.5 million and operating lease liabilities of $422.7 million, as of February 3, 2019. We also recognized a cumulative effect adjustment that increased retained deficit by $2.1 million for transition impairments related to previously impaired leased locations. The standard did not have a significant effect on our results of operations or cash flows. Consistent with the optional effective date transition method, the financial information in the Consolidated Balance Sheets prior to the adoption of this new lease accounting guidance has not been adjusted and is therefore not comparable to the current period presented. See Note 8 “Leases” for additional information. Recent Accounting Standards Not Yet Adopted In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40). This update provides additional guidance to ASU No. 2015-05, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40), which was issued in April 2015. The amendments in this ASU align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal use software license). This ASU is effective for annual reporting periods beginning on or after December 15, 2019, and interim periods within those annual periods with early adoption permitted in any interim period for which financial statements have not yet been issued. We do not believe that the adoption will have a material effect on our financial condition, results of operations or cash flows.

Revision of Previously Issued F

Revision of Previously Issued Financial Statements	9 Months Ended
	Nov. 02, 2019
Accounting Changes And Error Corrections [Abstract]
Revision of Previously Issued Financial Statements	2. Revision of Previously Issued Financial Statements During the quarter ended May 4, 2019, we identified a financial statement misstatement related to previous impairment calculations, which resulted in an overstatement of property and equipment, net, and an understatement of retained deficit of $4.1 million and $3.4 million as of February 2, 2019 and November 3, 2018, respectively. The error also resulted in an understatement of selling, general and administrative expenses of $0.2 million for the year ended February 2, 2019 and an overstatement of selling, general and administrative expenses of $0.3 million and $0.5 million for the 13 and 39 weeks ended November 3, 2018, respectively. Based on an analysis of quantitative and qualitative factors, we determined that the error was not material to our prior interim and annual financial statements. To correct this error, we revised the accompanying Consolidated Balance Sheets as of February 2, 2019 and November 3, 2018 and the Statement of Operations for the 13 and 39 weeks ended November 3, 2018.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Nov. 02, 2019
Revenue From Contract With Customer [Abstract]
Revenue Recognition	3. Revenue Recognition Revenue from sales of our merchandise is recognized at the time of sale net of any returns, discounts and percentage-off coupons. Our Ecommerce operation records revenue as online orders are fulfilled and provided to a carrier for delivery from vendor and/or our warehouses. Store sales include online orders that are fulfilled and shipped or picked up from our stores. Shipping and handling fees charged to customers are also included in total net sales with corresponding costs recorded as cost of goods sold as they are considered a fulfillment cost. Future merchandise returns are estimated based on historical experience. Sales tax collected from customers is not recognized as revenue and is included in accrued expenses and other current liabilities on the Consolidated Balance Sheets until paid. Our shoe department and vintage luxury handbag department inventories are each owned by separate single suppliers under supply agreements. Our commissions from the sales in these areas are included in net sales on the Consolidated Statements of Operations. We offer gift and merchandise return cards to our customers. At the time gift cards are sold, the issuance is recorded as a liability to customers, and no revenue is recognized. At the time merchandise return cards are issued for returned merchandise, the sale is reversed and a liability to customers is recorded. These card liabilities are reduced and sales revenue is recognized when they are redeemed for merchandise. Card liabilities are included in accrued expenses and other current liabilities in the Consolidated Balance Sheets. Our gift and merchandise return cards may not ultimately be redeemed either in full or partially. We account for this “breakage” of unused amounts as revenue in proportion to the pattern of rights exercised by the customer. Breakage revenue is recorded within other revenue in the Consolidated Statements of Operations. During the 13 weeks ended November 2, 2019 and November 3, 2018, we recognized $0.2 million and $0.3 million, respectively, of breakage revenue on unused gift and merchandise return cards. During each of the 39 weeks ended November 2, 2019 and November 3, 2018, respectively, we recognized $1.1 million of breakage revenue on unused gift and merchandise return cards. Stein Mart Credit Cards We offer co-branded and private label credit cards under the Stein Mart brand. These cards are issued by Synchrony Bank (“Synchrony”) in accordance with our Amended and Restated Co-Brand and Private Label Credit Card Consumer Program Agreement (the “Agreement”). Synchrony extends credit directly to card holders, provides all servicing for the credit card accounts and bears all risk of credit and fraud losses. We receive royalty revenue from Synchrony based on card usage in our stores and at other retailers for the Stein Mart Mastercard. We also receive revenues for new accounts and gain share based on the profitability of the overall program. Credit card revenue is recorded within other revenue in the Consolidated Statements of Operations. These revenues are recorded as they are earned based on the occurrence of the various program activities and typically represent the majority of other revenue. O n August 21, 2019, we entered into an amendment to our Agreement with Synchrony whereby Synchrony waived its rights to require us to post cash reserves to cure our failure to satisfy one or more of the quarterly financial covenants specified in the Agreement for periods through October 31, 2020 (the “Exemption Period”). As consideration for Synchrony’s entry into this amendment, we agreed to reduce the amount of fees paid to us by Synchrony under the Agreement from September 1, 2019 through the end of the Exemption Period. Card holders are eligible to participate in the credit card rewards program, which provides for reward certificates. We defer a portion of our revenue for loyalty points earned by customers and recognize the revenue as the certificates earned are used to purchase merchandise by our customers. This revenue is recorded within other revenue in the Consolidated Statements of Operations. Certificates may not ultimately be redeemed either in full or partially. We account for this “breakage” of unused amounts as revenue in proportion to the pattern of rights exercised by the customer. Breakage revenue is recorded within other revenue in the Consolidated Statements of Operations. During the 13 weeks ended November 2, 2019 and November 3, 2018, we recognized $1.6 million and $1.7 million, respectively, of breakage revenue on unused credit card reward certificates and points. During the 39 weeks ended November 2, 2019 and November 3, 2018, we recognized $5.4 million and $4.1 million, respectively, of breakage revenue on unused credit card reward certificates and points. Revenue The following table sets forth our revenue by type of contract (in thousands): 13 Weeks Ended November 2, 2019 13 Weeks Ended November 3, 2018 39 Weeks Ended November 2, 2019 39 Weeks Ended November 3, 2018 Store sales (1) $ 263,285 $ 261,058 $ 829,599 $ 859,903 Ecommerce sales (1) 7,158 11,897 34,364 37,728 Licensee commissions (2) 5,689 6,092 18,695 18,880 Net sales 276,132 279,047 882,658 916,511 Credit card revenue (3) 2,382 1,754 6,737 6,243 Breakage revenue (4) 1,816 1,930 6,431 5,146 Other 93 130 311 376 Other revenue 4,291 3,814 13,479 11,765 Total revenue $ 280,423 $ 282,861 $ 896,137 $ 928,276 (1) Store and Ecommerce sales are net of any returns, discounts and percentage-off coupons. During fiscal 2019, there has been a shift in online order fulfillment from vendor and/or our warehouses to our stores. (2) Licensed department commissions are net of any returns. (3) Credit card revenue earned from Synchrony programs. (4) Breakage revenue earned on unused gift and merchandise return cards and unused certificates and loyalty reward points. The following table sets forth the gross-up of the sales return reserve (in thousands): November 2, 2019 February 2, 2019 November 3, 2018 Reserve for sales returns $ (4,432 ) $ (3,469 ) $ (4,888 ) Cost of inventory returns 2,440 1,984 1,919 The following table sets forth the contract liabilities and their relationship to revenue (in thousands): November 2, 2019 February 2, 2019 November 3, 2018 Deferred revenue contracts $ (9,817 ) $ (11,017 ) $ (11,417 ) Gift card liability (8,718 ) (12,246 ) (8,774 ) Credit card reward liability (5,548 ) (5,583 ) (4,972 ) Liability for deferred revenue $ (24,083 ) $ (28,846 ) $ (25,163 ) The following table sets forth a rollforward of the amounts included in contract liabilities for the periods presented (in thousands): 39 Weeks Ended November 2, 2019 39 Weeks Ended November 3, 2018 Beginning balance $ 28,846 $ 29,381 Current period gift cards sold and loyalty reward points earned 23,697 23,287 Net sales from redemptions (1) (20,829 ) (21,164 ) Breakage and amortization (2) (7,631 ) (6,341 ) Ending balance $ 24,083 $ 25,163 (1) $7.3 million and $7.4 million in net sales from redemptions were included in the beginning balance of contract liabilities for the 39 weeks ended November 2, 2019 and November 3, 2018, respectively. (2) $3.4 million and $3.1 million in breakage and amortization were included in the beginning balance of contract liabilities for the 39 weeks ended November 2, 2019 and November 3, 2018, respectively.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	9 Months Ended
	Nov. 02, 2019
Payables And Accruals Abstract
Accrued Expenses and Other Current Liabilities	4. Accrued Expenses and Other Current Liabilities The following table sets forth the major components of accrued expenses and other current liabilities (in thousands): November 2, 2019 February 2, 2019 November 3, 2018 Property taxes $ 19,291 $ 18,852 $ 18,424 Unredeemed gift and merchandise return cards 8,718 12,246 8,774 Compensation and employee benefits 7,476 9,271 8,649 Accrued vacation 4,217 4,365 7,632 Other 40,521 32,916 38,564 Accrued expenses and other current liabilities $ 80,223 $ 77,650 $ 82,043

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Nov. 02, 2019
Equity [Abstract]
Shareholders' Equity	5. Shareholders’ Equity Dividends During the 39 weeks ended November 2, 2019 and November 3, 2018, there were no cash dividends declared. Stock Repurchase Plan During the 13 weeks ended November 2, 2019 and November 3, 2018, we repurchased 8,483 shares and 3,832 shares, respectively, of our common stock in the open market at a total cost of less than $0.1 million, respectively. During the 39 weeks ended November 2, 2019 and November 3, 2018, we repurchased 122,912 shares and 52,241 shares, respectively, of our common stock in the open market at a total cost of $0.1 million and less than $0.1 million, respectively. Stock repurchases during these periods were for taxes due on the vesting of employee stock awards. As of November 2, 2019, there are 366,889 shares that can be repurchased pursuant to the Board of Directors’ current authorization.

Earnings (Loss) per Share

Earnings (Loss) per Share	9 Months Ended
	Nov. 02, 2019
Earnings Per Share [Abstract]
Earnings (Loss) per Share	6. Earnings (Loss) per Share Basic earnings (loss) per share ("EPS”) is computed by dividing net income (loss) by the basic weighted-average number of common shares outstanding for the period. Diluted EPS is calculated by considering the impact of potential common stock equivalents on the weighted-average number of common shares outstanding. We no longer compute EPS under the two-class method since we do not have any remaining participating securities containing non-forfeitable rights to dividends. For the 13 weeks ended November 2, 2019 and November 3, 2018, there were 0.3 million shares and 1.0 million shares, respectively, excluded from the diluted EPS calculation because the impact of their assumed exercise would be anti-dilutive due to net losses in those respective periods. For the 39 weeks ended November 2, 2019 and November 3, 2018, there were 0.3 million shares and 0.7 million shares, respectively, excluded from the diluted EPS calculation because the impact of their assumed exercise would be anti-dilutive due to net losses in those respective periods. These shares are comprised of a mix of performance awards, restricted stock awards, and restricted stock units. Dilutive weighted average shares outstanding also excludes approximately 2.3 million potential common stock equivalents that were out-of-the-money during both the 13 weeks ended November 2, 2019 and November 3, 2018, respectively. Dilutive weighted average shares outstanding also excludes approximately 2.5 million and 2.7 million potential common stock equivalents that were out-of-the-money during the 39 weeks ended November 2, 2019 and November 3, 2018, respectively. These shares are comprised of a mix of stock options, restricted stock awards, and restricted stock units.

Debt

Debt	9 Months Ended
	Nov. 02, 2019
Debt Disclosure [Abstract]
Debt	7. Debt The following table sets forth our debt (in thousands): November 2, 2019 February 2, 2019 November 3, 2018 Revolving credit facility $ 136,000 $ 119,100 $ 156,551 Term loan 35,000 35,000 35,000 Total debt 171,000 154,100 191,551 Debt issuance costs (708 ) (847 ) (894 ) Long-term debt (1) $ 170,292 $ 153,253 $ 190,657 (1) As of the periods presented above, all debt is considered to be long-term. Revolving Credit Facility and Equipment Term Loan On February 3, 2015, we entered into a $250.0 million senior secured revolving credit facility pursuant to a second amended and restated credit agreement (the “Credit Agreement”) with Wells Fargo Bank (“Wells Fargo”), with an original maturity of February 2020 (the “Revolving Credit Facility”) and a secured $25.0 million master loan agreement with Wells Fargo Equipment Finance, Inc. (the “Equipment Term Loan”) with an original maturity of February 2018. Borrowings under the Revolving Credit Facility were initially used for a special dividend but are subsequently being used for working capital, capital expenditures and other general corporate purposes. During 2015, debt issuance costs of $0.4 million were associated with the Revolving Credit Facility and the Equipment Term Loan. Debt issuance costs associated with the Credit Agreement were being amortized over its term. We repaid the Equipment Term Loan in full on January 22, 2018, at which time the associated debt issuance costs were fully amortized. On February 19, 2018, we entered into Amendment No. 1 (the “Credit Agreement Amendment”) to the Credit Agreement with Wells Fargo. The Credit Agreement Amendment provided for, among other things, an Accommodation Period (as defined in the Credit Agreement Amendment) during which we were not required to meet the Fixed Charge Coverage Ratio (as defined in the Credit Agreement). This change permitted us to borrow the full amount of the then applicable borrowing base until we delivered our financial statements for the Measurement Period (as defined in the Credit Agreement) ended February 28, 2018. Pursuant to the Credit Agreement Amendment, a Cash Dominion Event (as defined in the Credit Agreement Amendment) occurred as of the effective date of the Credit Agreement Amendment and at all times thereafter. Because of the Cash Dominion Event, all of our cash receipts were swept daily to repay outstanding borrowings under the Credit Agreement and the amount outstanding under the Credit Agreement was classified as a short-term obligation. As noted below, the Third Credit Agreement Amendment removed the Cash Dominion Event effective September 18, 2018. On March 14, 2018, we entered into Amendment No. 2 (the “Second Credit Agreement Amendment”) to the Credit Agreement with Wells Fargo. The Second Credit Agreement Amendment provided for, among other things, the following: (1) the $25.0 million Tranche A-1 Revolving Loans (as defined in the Second Credit Agreement Amendment) were repaid in full with the proceeds of the Term Loan (as defined below); (2) the entry into the Intercreditor Agreement (as defined below); and (3) certain other modifications and updates to coordinate the Revolving Credit Facility with the Term Loan. On September 18, 2018, we entered into Amendment No. 3 (the “Third Credit Agreement Amendment”) to the Credit Agreement with Wells Fargo. The Third Credit Agreement Amendment provided for, among other things, the following: (1) the increase of Aggregate Tranche A Revolving Loan Commitments (as defined in the Second Credit Agreement Amendment) from $225.0 million to $240.0 million; (2) an extension of the maturity date of the Revolving Credit Facility to the earlier of (a) the maturity date of the Term Loan Agreement (as defined below) or (b) September 18, 2023; and (3) the elimination of Cash Dominion Event status and a change in Cash Dominion to be triggered only in the event of (a) the occurrence and continuance of any Event of Default or (b) Excess Availability of less than (A) 10.0% of the loan cap at any time or (B) 12.5% of the loan cap for three consecutive business days. During 2018, debt issuance costs of less than $0.1 million were associated with the Third Credit Agreement Amendment and are being amortized over its term. Debt issuance costs of $0.1 million remaining under the initial Credit Agreement are being amortized over the new term of the Third Credit Agreement Amendment. The elimination of cash dominion status changed the debt classification from a short-term to long-term obligation. On February 26, 2019, we entered into Amendment No. 4 (the “Fourth Credit Agreement Amendment”) to the Credit Agreement with Wells Fargo. The Fourth Credit Agreement Amendment provided for, among other things, a modification to the definition of “Capital Expenditures” and “Permitted Indebtedness” as defined in the Fourth Credit Agreement Amendment. The total amount available for borrowings under the Credit Agreement is the lesser of $240.0 million or 100 percent of eligible credit card receivables and the net recovery percentage of eligible inventories less reserves. On November 2, 2019, in addition to outstanding borrowings under the Credit Agreement, we had $7.9 million of outstanding letters of credit and our Excess Availability (as defined in the Credit Agreement) was $87.0 million. The Credit Agreement contains customary representations and warranties, affirmative and negative covenants (including the requirement of a 1.0 to 1.0 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 is cross-collateralized and cross-defaulted. Collateral for the Revolving Credit Facility consists of substantially all of our personal property. Wells Fargo has a first lien on all collateral other than equipment. Borrowings under the Credit Agreement are 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 percent, (b) the adjusted LIBOR plus 1.00 percent, or (c) the Wells Fargo “prime rate,” plus the Applicable Margin (25 to 75 basis points). The weighted average interest rate for the amount outstanding under the Credit Agreement was 3.44 percent as of November 2, 2019. Term Loan On March 14, 2018, we entered into a Term Loan Credit Agreement with Gordon Brothers Finance Company, as administrative agent (in such capacity, the “Term Loan Agent”), and Gordon Brothers Finance Company, LLC, as lender (the “Term Loan Agreement”). The Term Loan Agreement provided for a term loan in the amount of $50.0 million (the “Term Loan”). Debt issuance costs associated with the Term Loan were capitalized in the amount of $0.9 million and are being amortized over the term of the Term Loan. The net proceeds of $49.1 million from the Term Loan were used to permanently pay off the $25.0 million Tranche A-1 Revolving Loan (as defined in the Credit Agreement) and to pay down the Revolving Credit Facility. After utilizing proceeds from the Term Loan for repayment of amounts outstanding under the existing Tranche A-1 Revolving Loans, the Term Loan resulted in an increase in our Excess Availability of approximately $25.0 million under the Credit Agreement. The Term Loan originally matured on the earlier of (1) the termination date specified in our Credit Agreement, as such date may be extended with the consent of the Term Loan Agent or in accordance with the Intercreditor Agreement (defined below), and (2) March 14, 2020. On September 18, 2018, we entered into Amendment No. 2 (the “Second Term Loan Amendment”) to the Term Loan with Gordon Brothers Finance Company. The Second Term Loan Amendment provided for, among other things, the following: (1) the reduction of the maximum amount of the Term Loan to $35.0 million; (2) an extension of the maturity date of the Term Loan Agreement to the earlier of (a) the termination date specified in the Revolving Credit Facility (as defined in the Third Credit Agreement Amendment), and (b) September 18, 2023; (3) the reduction of the non-default interest rate applicable to the Term Loan under the Term Loan Agreement to a fluctuating rate of interest equal to three-month LIBOR (with a floor of 1.5%) plus 8.25% per annum; and (4) the elimination of Cash Dominion Event status and a change in Cash Dominion to be triggered only in the event of (a) the occurrence and continuance of any Event of Default or (b) Excess Availability of less than (A) 10.0% of the Revolving Loan Cap at any time or (B) 12.5% of the Revolving Loan Cap for three consecutive Business Days. During 2018, debt issuance costs of approximately $0.3 million were associated with the Term Loan and are being amortized over its term. The elimination of cash dominion status changed the debt classification from a short-term to long-term obligation. On February 26, 2019, we entered into Amendment No. 3 (the “Third Term Loan Amendment”) to the Term Loan Agreement. The Third Term Loan Amendment provided for, among other things, a modification to the definition of “Capital Expenditures” and “Permitted Indebtedness” as defined in the Third Term Loan Amendment. The Term Loan Agreement contains customary representations and warranties, events of default, and affirmative and negative covenants, which include the retention of the existing minimum 1.0 to 1.0 consolidated fixed charge coverage ratio under the Credit Agreement during periods where Revolving Excess Availability (as defined in the Term Loan Agreement) is less than the greater of $20.0 million or 10.0 percent of Combined Loan Cap (as defined in the Term Loan Agreement) for four consecutive business days or during the occurrence of an Event of Default (as defined in the Term Loan Agreement). The Term Loan is secured by a second lien security interest (subordinate only to the liens securing the Credit Agreement) on all assets securing the Credit Agreement (which consist of substantially all of our personal property), except furniture, fixtures and equipment and intellectual property, upon which the Term Loan lenders have a first lien security interest. If at any time prior to the first anniversary date of the Term Loan, the Revolving Excess Availability is less than $20.0 million, if requested by the Term Loan Agent, the Term Loan will also be secured by a first lien on leasehold interests in real property with an aggregate value of not less than $10.0 million, and the Credit Agreement will be secured by a second lien on such leasehold interests. The Term Loan is subject to certain mandatory prepayments if an Event of Default (as defined in the Term Loan Agreement) exists. If no such Event of Default exists, proceeds of the Term Loan priority collateral are to be applied to amounts outstanding under the Credit Agreement. The Term Loan Agent and Wells Fargo have entered into an Intercreditor Agreement dated as of March 14, 2018 (the “Intercreditor Agreement”), acknowledged by us under the Term Loan and the Credit Agreement. The Intercreditor Agreement was also amended on September 18, 2018 to incorporate the amendment to the Revolving Credit Facility and the Term Loan Agreement. The weighted average interest rate for the amount outstanding under the Term Loan was 10.35 percent as of November 2, 2019. Promissory Note We believe we can borrow, on a short-term basis and subject to the formal agreement of the lender, amounts up to the cash surrender value of the life insurance policies related to our executive deferred compensation plans to provide additional liquidity if needed. At November 2, 2019, the cash surrender value of our life insurance policies was $12.6 million. On February 2, 2018, we executed a promissory note under which we borrowed approximately $13.7 million (the “Promissory Note”) from SunTrust Bank (the “Trustee”) in its capacity as the trustee under a trust agreement (the “Trust Agreement”) dated September 1, 1999. The trust established by the Trust Agreement (the “Trust”) holds certain life insurance policies related to our executive deferred compensation plans. The Trustee obtained loans from the insurance policies held in the Trust in an amount not less than the amount of the Promissory Note. The Promissory Note was a short-term obligation and the proceeds were used to pay down borrowings under the existing Credit Agreement which provided additional availability under that agreement. The Promissory Note had a fixed interest rate of 3.58 percent per annum and an original maturity date of April 1, 2018. On March 7, 2018, we executed an amendment to the Promissory Note under which the Trustee extended the maturity date of the note from April 1, 2018, to July 1, 2018 (the “Maturity Date”). The amendment did not alter the short-term nature of the Promissory Note. The Promissory Note could be prepaid in whole or in part at any time. All unpaid principal and accrued interest on the Promissory Note would have become due and payable on the Maturity Date. The Trustee could offset payments due under the Promissory Note against amounts we would otherwise be entitled to withdraw from the Trust under the terms of the Trust Agreement. On June 29, 2018, we repaid the outstanding balance of the Promissory Note. On July 31, 2018, we executed a second promissory note from SunTrust Bank for $13.0 million, which carried a fixed interest rate of 3.58 percent per annum and an original maturity date of September 10, 2018. This note included the same terms as the Promissory Note executed on February 2, 2018. On September 10, 2018, we repaid the outstanding balance of the Promissory Note. The following table sets forth the aggregate maturities of our long-term debt at November 2, 2019, for the following fiscal years (in thousands): 2020 $ - 2021 - 2022 - 2023 171,000 2024 - Thereafter - Total $ 171,000

Leases

Leases	9 Months Ended
	Nov. 02, 2019
Leases [Abstract]
Leases	8. Leases We lease all our retail store locations, support facilities and certain equipment under operating leases. Our store leases have varying terms and are generally for 10 years with options to extend the lease term for two or more 5-year periods. Annual store rent is generally comprised of a fixed minimum amount plus an insignificant contingent amount based on a percentage of sales in excess of specified levels. Most store leases also require additional payments covering real estate taxes, common area costs and insurance. Certain lease agreements contain rent holidays, and/or rent escalation clauses. Except for contingent rent, we recognize rent expense on a straight-line basis over the lease term Construction allowances and other such lease incentives are recorded on the Consolidated Balance Sheets and are amortized on a straight-line basis as a reduction of rent expense. The l ease agreements do not contain any material residual value guarantees or material restrictive covenants. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement or modification date in determining the present value of lease payments. In ad dition to the operating lease assets presented on the Consolidated Balance Sheets, assets under finance leases of $6.9 million are included in property and equipment, net on the Consolidated Balance Sheets as of November 2, 2019. The remaining finance lease obligation is split between accrued expenses and other current liabilities for the short-term portion and other liabilities for the long-term portion on the Consolidated Balance Sheets. The f ollowing table summarizes our classification of lease cost (in thousands): 13 Weeks Ended 39 Weeks Ended Statement of Operations Location November 2, 2019 November 2, 2019 Operating lease cost (1) Selling, general and administrative expenses $ 24,622 $ 72,298 Finance lease cost: Amortization of finance lease assets Selling, general and administrative expenses 301 613 Interest on lease liabilities Interest expense, net 74 107 Variable lease cost Selling, general and administrative expenses 9,468 28,728 Net lease cost $ 34,465 $ 101,746 (1) Includes lease costs for short-term leases, which are immaterial. As of November 2, 2019, the following table summarizes the maturity of our lease liabilities (in thousands): Operating Finance Leases Leases Total Remainder of 2019 $ 24,706 $ 439 $ 25,145 2020 98,790 2,098 100,888 2021 89,318 1,525 90,843 2022 74,336 1,259 75,595 2023 59,421 489 59,910 After 2023 113,926 1 113,927 Total lease payments 460,497 5,811 466,308 Less: Interest (62,671 ) (581 ) (63,252 ) Present value of lease liabilities $ 397,826 $ 5,230 $ 403,056 The following table summarizes our lease term and discount rate: November 2, 2019 Weighted-average remaining lease term (years): Operating leases 5.6 Finance leases 3.2 Weighted-average discount rate: Operating leases 5.3 % Finance leases 7.0 % The following table summarizes the other information related to our lease liabilities (in thousands): 13 Weeks Ended 39 Weeks Ended November 2, 2019 November 2, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 25,156 $ 75,853 Operating cash flows from finance leases 74 107 Financing cash flows from finance leases 502 869 As of February 2, 2019, in accordance with ASC 840, Leases Operating Finance Leases Leases 2019 $ 101,139 $ 738 2020 93,190 574 2021 82,324 1 2022 66,820 - 2023 50,697 - Thereafter 102,550 - Total minimum lease payments $ 496,720 1,313 Amount representing interest (67 ) Present value of minimum lease payments 1,246 Less: current portion (685 ) Long-term capital lease obligations $ 561

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Nov. 02, 2019
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 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 both the 13 and 39 weeks ended November 2, 2019 and November 3, 2018, we did not accrue for any actual or anticipated loss contingencies.

Income Taxes

Income Taxes	9 Months Ended
	Nov. 02, 2019
Income Tax Disclosure [Abstract]
Income Taxes	10. Income Taxes The provision for income taxes is based on a current estimate of the annual effective tax rate adjusted to reflect the impact of discrete items. Our effective income tax rate may fluctuate from quarter to quarter as a result of a variety of factors, including changes in our assessment of certain tax contingencies, valuation allowances, changes in tax law, outcomes of administrative audits, the impact of discrete items, and the mix of earnings. Our income tax expense for both the 13 and 39 weeks ended November 2, 2019, reflects our estimated taxable income for the year. The effective tax rate will be close to zero percent for all of 2019.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Nov. 02, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	The accompanying Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for annual audited financial statements. In our opinion, all adjustments (consisting primarily of normal and recurring adjustments) considered necessary for a fair presentation have been included. Due to the seasonality of our business, results for any quarter are not necessarily indicative of the results that may be achieved for a full fiscal year. These Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended February 2, 2019, filed with the Securities and Exchange Commission (“SEC”) on March 28, 2019. As used herein, the terms “we,” “our,” “us” and “Stein Mart” refer to Stein Mart, Inc. and its wholly-owned subsidiaries.
Recently Accounting Standards	Recently Adopted Accounting Standards In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-02, Leases At transition, we elected the package of practical expedients, which allowed us to carry forward the historical lease classification, to not reassess prior conclusions related to initial direct costs, and to not reassess whether any expired or existing contracts are or contain leases. We did not elect the use of hindsight to determine the term of our leases at transition. We also elected the practical expedient to not separate non-lease components from the lease components to which they relate and instead to combine them and account for them as a single lease component. We made an accounting policy election not to capitalize leases with an initial term of twelve months or less. Adoption of the new standard had a significant effect on our Consolidated Balance Sheets due to the addition of operating lease assets of $382.5 million and operating lease liabilities of $422.7 million, as of February 3, 2019. We also recognized a cumulative effect adjustment that increased retained deficit by $2.1 million for transition impairments related to previously impaired leased locations. The standard did not have a significant effect on our results of operations or cash flows. Consistent with the optional effective date transition method, the financial information in the Consolidated Balance Sheets prior to the adoption of this new lease accounting guidance has not been adjusted and is therefore not comparable to the current period presented. See Note 8 “Leases” for additional information. Recent Accounting Standards Not Yet Adopted In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40). This update provides additional guidance to ASU No. 2015-05, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40), which was issued in April 2015. The amendments in this ASU align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal use software license). This ASU is effective for annual reporting periods beginning on or after December 15, 2019, and interim periods within those annual periods with early adoption permitted in any interim period for which financial statements have not yet been issued. We do not believe that the adoption will have a material effect on our financial condition, results of operations or cash flows.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Nov. 02, 2019
Revenue From Contract With Customer [Abstract]
Summary of Revenue by Type of Contract	The following table sets forth our revenue by type of contract (in thousands): 13 Weeks Ended November 2, 2019 13 Weeks Ended November 3, 2018 39 Weeks Ended November 2, 2019 39 Weeks Ended November 3, 2018 Store sales (1) $ 263,285 $ 261,058 $ 829,599 $ 859,903 Ecommerce sales (1) 7,158 11,897 34,364 37,728 Licensee commissions (2) 5,689 6,092 18,695 18,880 Net sales 276,132 279,047 882,658 916,511 Credit card revenue (3) 2,382 1,754 6,737 6,243 Breakage revenue (4) 1,816 1,930 6,431 5,146 Other 93 130 311 376 Other revenue 4,291 3,814 13,479 11,765 Total revenue $ 280,423 $ 282,861 $ 896,137 $ 928,276 (1) Store and Ecommerce sales are net of any returns, discounts and percentage-off coupons. During fiscal 2019, there has been a shift in online order fulfillment from vendor and/or our warehouses to our stores. (2) Licensed department commissions are net of any returns. (3) Credit card revenue earned from Synchrony programs. (4) Breakage revenue earned on unused gift and merchandise return cards and unused certificates and loyalty reward points.
Summary of Gross Up of Sales Return Reserve	The following table sets forth the gross-up of the sales return reserve (in thousands): November 2, 2019 February 2, 2019 November 3, 2018 Reserve for sales returns $ (4,432 ) $ (3,469 ) $ (4,888 ) Cost of inventory returns 2,440 1,984 1,919
Summary of Contract Liabilities and Their Relationship to Revenue	The following table sets forth the contract liabilities and their relationship to revenue (in thousands): November 2, 2019 February 2, 2019 November 3, 2018 Deferred revenue contracts $ (9,817 ) $ (11,017 ) $ (11,417 ) Gift card liability (8,718 ) (12,246 ) (8,774 ) Credit card reward liability (5,548 ) (5,583 ) (4,972 ) Liability for deferred revenue $ (24,083 ) $ (28,846 ) $ (25,163 )
Summary of Amounts Included in Contract Liabilities	The following table sets forth a rollforward of the amounts included in contract liabilities for the periods presented (in thousands): 39 Weeks Ended November 2, 2019 39 Weeks Ended November 3, 2018 Beginning balance $ 28,846 $ 29,381 Current period gift cards sold and loyalty reward points earned 23,697 23,287 Net sales from redemptions (1) (20,829 ) (21,164 ) Breakage and amortization (2) (7,631 ) (6,341 ) Ending balance $ 24,083 $ 25,163 (1) $7.3 million and $7.4 million in net sales from redemptions were included in the beginning balance of contract liabilities for the 39 weeks ended November 2, 2019 and November 3, 2018, respectively. (2) $3.4 million and $3.1 million in breakage and amortization were included in the beginning balance of contract liabilities for the 39 weeks ended November 2, 2019 and November 3, 2018, respectively.

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	9 Months Ended
	Nov. 02, 2019
Payables And Accruals Abstract
Major Components of Accrued Expenses and Other Current Liabilities	The following table sets forth the major components of accrued expenses and other current liabilities (in thousands): November 2, 2019 February 2, 2019 November 3, 2018 Property taxes $ 19,291 $ 18,852 $ 18,424 Unredeemed gift and merchandise return cards 8,718 12,246 8,774 Compensation and employee benefits 7,476 9,271 8,649 Accrued vacation 4,217 4,365 7,632 Other 40,521 32,916 38,564 Accrued expenses and other current liabilities $ 80,223 $ 77,650 $ 82,043

Debt (Tables)

Debt (Tables)	9 Months Ended
	Nov. 02, 2019
Debt Disclosure [Abstract]
Summary of Debt	The following table sets forth our debt (in thousands): November 2, 2019 February 2, 2019 November 3, 2018 Revolving credit facility $ 136,000 $ 119,100 $ 156,551 Term loan 35,000 35,000 35,000 Total debt 171,000 154,100 191,551 Debt issuance costs (708 ) (847 ) (894 ) Long-term debt (1) $ 170,292 $ 153,253 $ 190,657 (1) As of the periods presented above, all debt is considered to be long-term.
Aggregate Maturities of Debt	The following table sets forth the aggregate maturities of our long-term debt at November 2, 2019, for the following fiscal years (in thousands): 2020 $ - 2021 - 2022 - 2023 171,000 2024 - Thereafter - Total $ 171,000

Leases (Tables)

Leases (Tables)	9 Months Ended
	Nov. 02, 2019
Leases [Abstract]
Rent Expense	The f ollowing table summarizes our classification of lease cost (in thousands): 13 Weeks Ended 39 Weeks Ended Statement of Operations Location November 2, 2019 November 2, 2019 Operating lease cost (1) Selling, general and administrative expenses $ 24,622 $ 72,298 Finance lease cost: Amortization of finance lease assets Selling, general and administrative expenses 301 613 Interest on lease liabilities Interest expense, net 74 107 Variable lease cost Selling, general and administrative expenses 9,468 28,728 Net lease cost $ 34,465 $ 101,746 (1) Includes lease costs for short-term leases, which are immaterial.
Lessee, Lease, Liability, Maturity	As of November 2, 2019, the following table summarizes the maturity of our lease liabilities (in thousands): Operating Finance Leases Leases Total Remainder of 2019 $ 24,706 $ 439 $ 25,145 2020 98,790 2,098 100,888 2021 89,318 1,525 90,843 2022 74,336 1,259 75,595 2023 59,421 489 59,910 After 2023 113,926 1 113,927 Total lease payments 460,497 5,811 466,308 Less: Interest (62,671 ) (581 ) (63,252 ) Present value of lease liabilities $ 397,826 $ 5,230 $ 403,056
Disclosure of lease term and weighted average discount rate	The following table summarizes our lease term and discount rate: November 2, 2019 Weighted-average remaining lease term (years): Operating leases 5.6 Finance leases 3.2 Weighted-average discount rate: Operating leases 5.3 % Finance leases 7.0 %
Disclosure of cash flows relating to leases	The following table summarizes the other information related to our lease liabilities (in thousands): 13 Weeks Ended 39 Weeks Ended November 2, 2019 November 2, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 25,156 $ 75,853 Operating cash flows from finance leases 74 107 Financing cash flows from finance leases 502 869
Schedule of Future Minimum Rental Payments for Operating Leases	As of February 2, 2019, in accordance with ASC 840, Leases Operating Finance Leases Leases 2019 $ 101,139 $ 738 2020 93,190 574 2021 82,324 1 2022 66,820 - 2023 50,697 - Thereafter 102,550 - Total minimum lease payments $ 496,720 1,313 Amount representing interest (67 ) Present value of minimum lease payments 1,246 Less: current portion (685 ) Long-term capital lease obligations $ 561

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail) - USD ($) $ in Thousands	Nov. 02, 2019	May 04, 2019	Feb. 03, 2019
Operating lease, liability	$ 397,826
Operating lease, right-of-use asset	$ 361,168
Cumulative effect adjustment		$ (2,133)	$ 2,100
Accounting Standards Update 2016-02 [Member]
Operating lease, liability			422,700
Operating lease, right-of-use asset			$ 382,500

Revision of Previously Issued_2

Revision of Previously Issued Financial Statements - Additional Information (Detail) - Accounting Error [Member] - USD ($) $ in Millions	3 Months Ended	9 Months Ended	12 Months Ended
	Nov. 03, 2018	Nov. 03, 2018	Feb. 02, 2019
Selling, General and Administrative Expenses [Member]
Quantifying Misstatement In Current Year Financial Statements [Line Items]
Quantifying Misstatement in Current Year Financial Statements, Amount	$ (0.3)	$ (0.5)	$ 0.2
Retained Earnings [Member]
Quantifying Misstatement In Current Year Financial Statements [Line Items]
Quantifying Misstatement in Current Year Financial Statements, Amount		$ 3.4	$ 4.1

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Nov. 02, 2019	Nov. 03, 2018	Nov. 02, 2019	Nov. 03, 2018
Revenue Recognition [Abstract]
Breakage unused gift and merchandise revenue recognized	$ 0.2	$ 0.3	$ 1.1	$ 1.1
Breakage revenue on unused credit card reward certificates	$ 1.6	$ 1.7	$ 5.4	$ 4.1

Revenue Recognition - Summary o

Revenue Recognition - Summary of Revenue by Type of Contract (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Nov. 02, 2019	Nov. 03, 2018	Nov. 02, 2019	Nov. 03, 2018
Disaggregation Of Revenue [Line Items]
Net sales		$ 276,132	$ 279,047	$ 882,658	$ 916,511
Other revenue		4,291	3,814	13,479	11,765
Total revenue		280,423	282,861	896,137	928,276
Accounting Standards Update 2014-09 [Member]
Disaggregation Of Revenue [Line Items]
Net sales		276,132	279,047	882,658	916,511
Other revenue		4,291	3,814	13,479	11,765
Total revenue		280,423	282,861	896,137	928,276
Store sales [Member] | Accounting Standards Update 2014-09 [Member]
Disaggregation Of Revenue [Line Items]
Net sales	[1]	263,285	261,058	829,599	859,903
Ecommerce sales [Member] | Accounting Standards Update 2014-09 [Member]
Disaggregation Of Revenue [Line Items]
Net sales	[1]	7,158	11,897	34,364	37,728
Licensee commissions [Member] | Accounting Standards Update 2014-09 [Member]
Disaggregation Of Revenue [Line Items]
Net sales	[2]	5,689	6,092	18,695	18,880
Credit Card [Member] | Accounting Standards Update 2014-09 [Member]
Disaggregation Of Revenue [Line Items]
Other revenue	[3]	2,382	1,754	6,737	6,243
Breakage revenue [Member] | Accounting Standards Update 2014-09 [Member]
Disaggregation Of Revenue [Line Items]
Other revenue	[4]	1,816	1,930	6,431	5,146
Other [Member] | Accounting Standards Update 2014-09 [Member]
Disaggregation Of Revenue [Line Items]
Other revenue		$ 93	$ 130	$ 311	$ 376
[1]	Store and Ecommerce sales are net of any returns, discounts and percentage-off coupons. During fiscal 2019, there has been a shift in online order fulfillment from vendor and/or our warehouses to our stores.
[2]	Licensed department commissions are net of any returns.
[3]	Credit card revenue earned from Synchrony programs.
[4]	Breakage revenue earned on unused gift and merchandise return cards and unused certificates and loyalty reward points.

Revenue Recognition - Summary_2

Revenue Recognition - Summary of Gross Up of Sales Return Reserve (Detail) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Nov. 02, 2019	Nov. 03, 2018	Feb. 02, 2019
Revenue From Contract With Customer [Abstract]
Reserve for sales returns	$ (4,432)	$ (4,888)	$ (3,469)
Cost of inventory returns	$ 2,440	$ 1,919	$ 1,984

Revenue Recognition - Summary_3

Revenue Recognition - Summary of Contract Liabilities and Their Relationship to Revenue (Detail) - USD ($) $ in Thousands	Nov. 02, 2019	Feb. 02, 2019	Nov. 03, 2018	Feb. 03, 2018
Revenue From Contract With Customer [Abstract]
Deferred revenue contracts	$ (9,817)	$ (11,017)	$ (11,417)
Gift card liability	(8,718)	(12,246)	(8,774)
Credit card reward liability	(5,548)	(5,583)	(4,972)
Liability for deferred revenue	$ (24,083)	$ (28,846)	$ (25,163)	$ (29,381)

Revenue Recognition - Summary_4

Revenue Recognition - Summary of Amounts Included in Contract Liabilities (Detail) - USD ($) $ in Thousands		9 Months Ended
		Nov. 02, 2019	Nov. 03, 2018
Revenue From Contract With Customer [Abstract]
Beginning balance		$ 28,846	$ 29,381
Current period gift cards sold and loyalty reward points earned		23,697	23,287
Net sales from redemptions	[1]	(20,829)	(21,164)
Breakage and amortization	[2]	(7,631)	(6,341)
Ending balance		$ 24,083	$ 25,163
[1]	$7.3 million and $7.4 million in net sales from redemptions were included in the beginning balance of contract liabilities for the 39 weeks ended November 2, 2019 and November 3, 2018, respectively.
[2]	$3.4 million and $3.1 million in breakage and amortization were included in the beginning balance of contract liabilities for the 39 weeks ended November 2, 2019 and November 3, 2018, respectively.

Revenue Recognition - Summary_5

Revenue Recognition - Summary of Amounts Included in Contract Liabilities (Parenthetical) (Detail) - USD ($) $ in Thousands		9 Months Ended
		Nov. 02, 2019	Nov. 03, 2018
Disaggregation Of Revenue [Line Items]
Contract with Customer, Liability	[1]	$ (20,829)	$ (21,164)
Revenue Recognition [Member]
Disaggregation Of Revenue [Line Items]
Contract with Customer, Liability	[1]	7,300	7,400
Breakage and amortization [Member]
Disaggregation Of Revenue [Line Items]
Contract with Customer, Liability	[2]	$ 3,400	$ 3,100
[1]	$7.3 million and $7.4 million in net sales from redemptions were included in the beginning balance of contract liabilities for the 39 weeks ended November 2, 2019 and November 3, 2018, respectively.
[2]	$3.4 million and $3.1 million in breakage and amortization were included in the beginning balance of contract liabilities for the 39 weeks ended November 2, 2019 and November 3, 2018, respectively.

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities - Major Components of Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Nov. 02, 2019	Feb. 02, 2019	Nov. 03, 2018
Accrued Liabilities And Other Liabilities [Abstract]
Property taxes	$ 19,291	$ 18,852	$ 18,424
Unredeemed gift and merchandise return cards	8,718	12,246	8,774
Compensation and employee benefits	7,476	9,271	8,649
Accrued vacation	4,217	4,365	7,632
Other	40,521	32,916	38,564
Accrued expenses and other current liabilities	$ 80,223	$ 77,650	$ 82,043

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Nov. 02, 2019	Nov. 03, 2018	Nov. 02, 2019	Nov. 03, 2018
Schedule of Shareholders' Equity [Line Items]
Dividends declared and cash paid per share			$ 0	$ 0
Repurchase of shares	8,483	3,832	122,912	52,241
Minimum [Member]
Schedule of Shareholders' Equity [Line Items]
Repurchase shares value	$ 0.1	$ 0.1		$ 0.1
Maximum [Member]
Schedule of Shareholders' Equity [Line Items]
Repurchase shares value			$ 0.1
Board of Directors [Member]
Schedule of Shareholders' Equity [Line Items]
Repurchase of shares, remaining	366,889		366,889

Earnings (Loss) per Share - Add

Earnings (Loss) per Share - Additional Information (Detail) - shares shares in Millions	3 Months Ended		9 Months Ended
	Nov. 02, 2019	Nov. 03, 2018	Nov. 02, 2019	Nov. 03, 2018
Earnings Per Share [Abstract]
Dilutive securities excluded	2.3	2.3	2.5	2.7
Antidilutive securities excluded	0.3	1	0.3	0.7

Debt - Summary of Debt (Detail)

Debt - Summary of Debt (Detail) - USD ($) $ in Thousands		Nov. 02, 2019	Feb. 02, 2019	Nov. 03, 2018	Jan. 30, 2016
Debt Disclosure [Abstract]
Revolving credit facility		$ 136,000	$ 119,100	$ 156,551
Term loan		35,000	35,000	35,000
Total debt		171,000	154,100	191,551
Debt issuance costs		(708)	(847)	(894)	$ (400)
Long-term debt	[1]	170,292	153,253	190,657
Total debt		$ 171,000	$ 154,100	$ 191,551
[1]	As of the periods presented above, all debt is considered to be long-term.

Debt - Additional Information (

Debt - Additional Information (Detail) $ in Thousands	Sep. 18, 2018USD ($)BusinessDay	Jul. 31, 2018USD ($)	Apr. 01, 2018	Mar. 14, 2018USD ($)	Feb. 03, 2015USD ($)	Nov. 02, 2019USD ($)	Feb. 02, 2019USD ($)	Nov. 03, 2018USD ($)	Feb. 03, 2018USD ($)	Feb. 02, 2018USD ($)	Jan. 30, 2016USD ($)
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity						$ 35,000	$ 35,000	$ 35,000
Debt issuance costs						708	847	894			$ 400
Revolving loan commitment						136,000	$ 119,100	$ 156,551
Letters of credit, outstanding						7,900
Remaining borrowing capacity under line of credit facility						$ 87,000
Borrowing capacity covenant, percentage of credit card receivables and net recovery of inventories						100.00%
Fixed charges coverage ratio						1
Borrowings						$ 171,000
Equipment Term Loan [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity					$ 25,000
Credit facility agreement expiration date					Feb. 28, 2018
Credit Agreement [Member]
Debt Instrument [Line Items]
Terms of credit agreement						Base Rate Loans bear interest equal to the highest of (a) the Federal Funds Rate plus 0.50 percent, (b) the adjusted LIBOR plus 1.00 percent, or (c) the Wells Fargo “prime rate,” plus the Applicable Margin (25 to 75 basis points).
Weighted average interest rate on debt amounts outstanding						3.44%
Tranche A-1 Revolving Loan Commitment [Member]
Debt Instrument [Line Items]
Revolving loan commitment				$ 25,000
Term Loan [Member]
Debt Instrument [Line Items]
Fixed charges coverage ratio						1
Weighted average interest rate on debt amounts outstanding						10.35%
Covenant description						The Term Loan Agreement contains customary representations and warranties, events of default, and affirmative and negative covenants, which include the retention of the existing minimum 1.0 to 1.0 consolidated fixed charge coverage ratio under the Credit Agreement during periods where Revolving Excess Availability (as defined in the Term Loan Agreement) is less than the greater of $20.0 million or 10.0 percent of Combined Loan Cap (as defined in the Term Loan Agreement) for four consecutive business days or during the occurrence of an Event of Default (as defined in the Term Loan Agreement)
Percent of combined loan cap						10.00%
Term Loan [Member] | Maximum [Member]
Debt Instrument [Line Items]
Remaining borrowing capacity under line of credit facility						$ 20,000
Term Loan [Member] | Minimum [Member]
Debt Instrument [Line Items]
Value of leasehold interests in real property						10,000
Wells Fargo Bank [Member] | Credit Agreement [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity					$ 250,000	240,000
Credit facility agreement expiration date					Feb. 28, 2020
Current borrowing capacity under line of credit facility						$ 12,600
Wells Fargo Bank [Member] | Tranche A Revolving Loan [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 240,000			225,000
Credit facility agreement expiration date						Sep. 18, 2023
Debt issuance costs									$ 100
Loan cap percentage	12.50%
Number of consecutive business days	3
Wells Fargo Bank [Member] | Tranche A Revolving Loan [Member] | Maximum [Member]
Debt Instrument [Line Items]
Loan cap percentage	10.00%
Wells Fargo Bank [Member] | Tranche A-1 Revolving Loans [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity				25,000
Gordon Brothers Finance Company, LLC [Member]
Debt Instrument [Line Items]
Debt issuance costs				900
Gordon Brothers Finance Company, LLC [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 35,000			50,000
Credit facility agreement expiration date						Sep. 18, 2023
Debt issuance costs									$ 300
Loan cap percentage	12.50%
Number of consecutive business days | BusinessDay	3
Terms of credit agreement						the non-default interest rate applicable to the Term Loan under the Term Loan Agreement to a fluctuating rate of interest equal to three-month LIBOR (with a floor of 1.5%) plus 8.25% per annum
Proceeds from term loan				49,100
Increase in excess availability under the Credit Agreement				$ 25,000
Gordon Brothers Finance Company, LLC [Member] | Term Loan [Member] | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument interest rate	8.25%
Floor rate	1.50%
Gordon Brothers Finance Company, LLC [Member] | Term Loan [Member] | Maximum [Member]
Debt Instrument [Line Items]
Loan cap percentage	10.00%
Sun Trust Bank [Member]
Debt Instrument [Line Items]
Credit facility agreement expiration date		Sep. 10, 2018				Apr. 1, 2018
Fixed interest rate		3.58%	3.58%
Sun Trust Bank [Member] | Promissory Note [Member]
Debt Instrument [Line Items]
Borrowings		$ 13,000								$ 13,700

Debt - Aggregate Maturities of

Debt - Aggregate Maturities of Debt (Detail) $ in Thousands	Nov. 02, 2019USD ($)
Debt Disclosure [Abstract]
2020	$ 0
2021	0
2022	0
2023	171,000
2024	0
Thereafter	0
Total	$ 171,000

Leases - Additional Information

Leases - Additional Information (Detail) $ in Millions	Nov. 02, 2019USD ($)
Operating Leased Assets [Line Items]
Lease term	10 years
Capital Leases, Balance Sheet, Assets by Major Class, Net	$ 6.9
Maximum [Member]
Operating Leased Assets [Line Items]
Length of lease extension	5 years

Leases - Lease cost (Detail)

Leases - Lease cost (Detail) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
		Nov. 02, 2019	Nov. 02, 2019
Finance lease cost
Net lease cost		$ 34,465	$ 101,746
SG&A Expenses [Member]
Lessee Lease Description [Line Items]
Operating lease cost	[1]	24,622	72,298
Finance lease cost
Amortization of leased assets		301	613
Variable lease cost		9,468	28,728
Net Interest Expense [Member] [Member]
Finance lease cost
Interest on lease liabilities		$ 74	$ 107
[1]	Includes lease costs for short-term leases, which are immaterial.

Leases - Lessee, Lease, Liabili

Leases - Lessee, Lease, Liability, Maturity (Detail) $ in Thousands	Nov. 02, 2019USD ($)
Operating Leases [Abstract]
Remainder of 2019	$ 24,706
2020	98,790
2021	89,318
2022	74,336
2023	59,421
After 2023	113,926
Total lease payments	460,497
Less: Interest	(62,671)
Operating lease, liability	397,826
Finance Leases [Abstract]
Remainder of 2019	439
2020	2,098
2021	1,525
2022	1,259
2023	489
After 2023	1
Total lease payments	5,811
Less: Interest	(581)
Present value of lease liabilities	5,230
Remainder of 2019	25,145
2020	100,888
2021	90,843
2022	75,595
2023	59,910
After 2023	113,927
Total lease payments	466,308
Less: Interest	(63,252)
Lease Liability	$ 403,056

Leases - Disclosure of lease te

Leases - Disclosure of lease term and weighted average discount rate (Detail)	Nov. 02, 2019
Weighted-average remaining lease term (years):
Operating leases	5 years 7 months 6 days
Finance leases	3 years 2 months 12 days
Weighted-average discount rate:
Operating leases	5.30%
Finance leases	7.00%

Leases - Disclosure of cash flo

Leases - Disclosure of cash flows relating to leases (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Nov. 02, 2019	Nov. 02, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 25,156	$ 75,853
Operating cash flows from finance leases	74	107
Financing cash flows from finance leases	$ 502	$ 869

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Rental Payments for Operating Leases (Detail) $ in Thousands	Feb. 02, 2019USD ($)
Operating Leases
2019	$ 101,139
2020	93,190
2021	82,324
2022	66,820
2023	50,697
After 2023	102,550
Total future minimum lease payments	496,720
Finance Leases
2019	738
2020	574
2021	1
Total future minimum lease payments	1,313
Amount representing interest	(67)
Present value of minimum lease payments	1,246
Less: current portion	(685)
Long-term capital lease obligations	$ 561

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Nov. 02, 2019	Nov. 03, 2018	Nov. 02, 2019	Nov. 03, 2018
Commitments And Contingencies Disclosure [Abstract]
Actual and anticipated legal settlements accrued	$ 0	$ 0	$ 0	$ 0

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended	9 Months Ended
	Nov. 02, 2019	Nov. 02, 2019
Income Tax Disclosure [Abstract]
Effective tax rate	0.00%	0.00%