Shoe Carnival (SCVL) 10-Q 3 Jun 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Apr. 30, 2016	May. 27, 2016
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Apr. 30, 2016
Entity Registrant Name	SHOE CARNIVAL INC
Entity Central Index Key	895,447
Current Fiscal Year End Date	--01-28
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		19,640,900

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Apr. 30, 2016	Jan. 30, 2016	May. 02, 2015
Current Assets:
Cash and cash equivalents	$ 65,998	$ 68,814	$ 69,754
Accounts receivable	1,657	2,131	2,441
Merchandise inventories	303,011	292,878	295,248
Deferred income taxes	1,411	1,061	1,016
Other	7,550	5,193	12,915
Total Current Assets	379,627	370,077	381,374
Property and equipment - net	102,636	103,386	103,107
Deferred income taxes	8,078	7,158	5,781
Other noncurrent assets	617	472	366
Total Assets	490,958	481,093	490,628
Current Liabilities:
Accounts payable	69,119	72,086	76,375
Accrued and other liabilities	20,688	15,848	21,190
Total Current Liabilities	89,807	87,934	97,565
Deferred lease incentives	31,106	31,971	30,095
Accrued rent	11,301	11,224	10,888
Deferred compensation	10,159	9,612	10,605
Other	715	550	212
Total Liabilities	143,088	141,291	149,365
Shareholders' Equity:
Common stock, $.01 par value, 50,000,000 shares authorized, 20,604,178 shares, 20,604,178 shares and 20,667,434 shares issued, respectively	206	206	207
Additional paid-in capital	62,540	66,805	64,669
Retained earnings	303,682	294,308	279,855
Treasury stock, at cost, 821,178 shares, 955,612 shares and 186,207 shares, respectively	(18,558)	(21,517)	(3,468)
Total Shareholders' Equity	347,870	339,802	341,263
Total Liabilities and Shareholders' Equity	$ 490,958	$ 481,093	$ 490,628

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Apr. 30, 2016	Jan. 30, 2016	May. 02, 2015
Statement of Financial Position [Abstract]
Common stock, par value per share	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000	50,000,000
Common stock, shares issued	20,604,178	20,604,178	20,667,434
Treasury shares, shares	821,178	955,612	186,207

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 30, 2016	May. 02, 2015
Income Statement [Abstract]
Net sales	$ 260,470	$ 252,767
Cost of sales (including buying, distribution and occupancy costs)	184,914	178,078
Gross profit	75,556	74,689
Selling, general and administrative expenses	58,271	57,659
Operating income	17,285	17,030
Interest income	(3)	(3)
Interest expense	43	42
Income before income taxes	17,245	16,991
Income tax expense	6,584	6,595
Net income	$ 10,661	$ 10,396
Net income per share:
Basic	$ 0.56	$ 0.52
Diluted	$ 0.56	$ 0.52
Weighted average shares:
Basic	18,775	19,588
Diluted	18,780	19,601
Cash dividends declared per share	$ 0.065	$ 0.06

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY - 3 months ended Apr. 30, 2016 - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Total
Balance at Jan. 30, 2016	$ 206	$ 66,805	$ 294,308	$ (21,517)	$ 339,802
Balance, shares at Jan. 30, 2016	20,604			(956)
Dividends declared ($0.065 per share)			$ (1,287)		(1,287)
Employee stock purchase plan purchases		$ 1		$ 71	72
Employee stock purchase plan purchases, shares				3
Restricted stock awards		$ (4,768)		$ 4,768	0
Restricted stock awards, shares				212
Shares surrendered by employees to pay taxes on restricted stock				$ (284)	(284)
Shares surrendered by employees to pay taxes on restricted stock, shares				(10)
Purchase of common stock for treasury				$ (1,596)	(1,596)
Purchase of common stock for treasury, shares				(70)
Stock-based compensation expense		$ 502			502
Net income			$ 10,661		10,661
Balance at Apr. 30, 2016	$ 206	$ 62,540	$ 303,682	$ (18,558)	$ 347,870
Balance, shares at Apr. 30, 2016	20,604			(821)

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Apr. 30, 2016	May. 02, 2015
Statement of Stockholders' Equity [Abstract]
Cash dividends declared per share	$ 0.065	$ 0.06

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2016	May. 02, 2015
Cash Flows From Operating Activities
Net income	$ 10,661	$ 10,396
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	5,853	5,574
Stock-based compensation	635	892
Loss on retirement and impairment of assets	47	139
Deferred income taxes	(1,270)	(1,613)
Lease incentives	263	1,105
Other	(676)	(250)
Changes in operating assets and liabilities:
Accounts receivable	474	488
Merchandise inventories	(10,133)	(7,371)
Accounts payable and accrued liabilities	(5,761)	8,109
Other	4,307	(618)
Net cash provided by operating activities	4,400	16,851
Cash Flows From Investing Activities
Purchases of property and equipment	(4,161)	(7,342)
Net cash used in investing activities	(4,161)	(7,342)
Cash Flows From Financing Activities
Proceeds from issuance of stock	72	56
Dividends paid	(1,247)	(1,199)
Excess tax benefits from stock-based compensation	0	25
Purchase of common stock for treasury	(1,596)	0
Shares surrendered by employees to pay taxes on restricted stock	(284)	(13)
Net cash used in financing activities	(3,055)	(1,131)
Net (decrease) increase in cash and cash equivalents	(2,816)	8,378
Cash and cash equivalents at beginning of period	68,814	61,376
Cash and Cash Equivalents at End of Period	65,998	69,754
Supplemental disclosures of cash flow information:
Cash paid during period for interest	42	41
Cash paid during period for income taxes	289	491
Capital expenditures incurred but not yet paid	$ 1,665	$ 1,782

Basis of Presentation

Basis of Presentation	3 Months Ended
	Apr. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 1 - Basis of Presentation In our opinion, the accompanying Unaudited Condensed Consolidated Financial Statements and notes have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the "SEC") for interim financial information and contain all normal recurring adjustments necessary to present fairly our financial position and the results of our operations and our cash flows for the periods presented. Certain information and disclosures normally included in the notes to consolidated financial statements have been condensed or omitted according to the rules and regulations of the SEC, although we believe that the disclosures are adequate to make the information presented not misleading. The results of operations for the interim periods are not necessarily indicative of the results to be expected for the full year. The Condensed Consolidated Financial Statements should be read in conjunction with the audited consolidated financial statements and the notes thereto contained in our Annual Report on Form 10-K for the fiscal year ended January 30, 2016.

Net Income Per Share

Net Income Per Share	3 Months Ended
	Apr. 30, 2016
Earnings Per Share, Basic [Abstract]
Net Income Per Share	Note 2 - Net Income Per Share The following tables set forth the computation of basic and diluted earnings per share as shown on the face of the accompanying Condensed Consolidated Statements of Income: Thirteen Weeks Ended April 30, 2016 May 2, 2015 (In thousands, except per share data) Basic Earnings per Share: Net Income Shares Per Share Amount Net Income Shares Per Share Amount Net income $ 10,661 $ 10,396 Amount allocated to participating securities (213 ) (195 ) Net income available for basic common shares and basic earnings per share $ 10,448 18,775 $ 0.56 $ 10,201 19,588 $ 0.52 Diluted Earnings per Share: Net income $ 10,661 $ 10,396 Amount allocated to participating securities (213 ) (195 ) Adjustment for dilutive potential common shares 0 5 0 13 Net income available for diluted common shares and diluted earnings per share $ 10,448 18,780 $ 0.56 $ 10,201 19,601 $ 0.52 Our basic and diluted earnings per share are computed using the two-class method. The two-class method is an earnings allocation that determines net income per share for each class of common stock and participating securities according to their participation rights in dividends and undistributed earnings or losses. Non-vested restricted stock awards that include non-forfeitable rights to dividends are considered participating securities. During periods of undistributed losses, however, no effect is given to our participating securities since they do not share in the losses. Per share amounts are computed by dividing net income available to common shareholders by the weighted average shares outstanding during each period. No options to purchase shares of common stock were excluded in the computation of diluted shares for the periods presented.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	3 Months Ended
	Apr. 30, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recently Issued Accounting Pronouncements	Note 3 - Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued guidance on the recognition of revenue for all contracts with customers designed to improve comparability and enhance financial statement disclosures. Subsequently, the FASB has also issued accounting standards updates which clarify the guidance. The underlying principle of this comprehensive model is that revenue is recognized to depict the transfer of promised goods or services to customers in an amount that reflects the payment to which the company expects to be entitled in exchange for those goods or services. In August 2015, the FASB subsequently issued guidance which approved a one year deferral of the guidance until annual reporting periods (including interim reporting periods within those periods) beginning after December 15, 2017. Early adoption is permitted as of the original effective date for annual reporting periods (including interim reporting periods within those periods) beginning after December 15, 2016. We are evaluating the impact of this guidance on our consolidated financial position, results of operations and cash flows. In April 2015, the FASB issued guidance on accounting for fees paid in a cloud computing arrangement, which provides guidance to assist entities in determining whether a cloud computing arrangement contains a software license. The guidance states that if a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. We prospectively adopted this guidance effective as of January 31, 2016, and such adoption did not have a material impact on our consolidated financial position, results of operations or cash flows. In July 2015, the FASB issued guidance on simplifying the measurement of inventory, which is intended to narrow down the alternative methods available for valuing inventory. The new guidance does not apply to inventory currently measured using the last-in-first-out (“LIFO”) or the retail inventory valuation methods. Under the new guidance, inventory valued using other methods, including the first-in-first-out (“FIFO”) method, must be valued at the lower of cost or net realizable value. This guidance is effective for annual reporting periods (including interim reporting periods within those periods) beginning after December 15, 2016. Early adoption is permitted. We do not believe the guidance will have a material impact on our consolidated financial position, results of operations and cash flows. In November 2015, the FASB issued guidance which simplifies the classification of deferred taxes by requiring an entity to classify deferred tax liabilities and assets as noncurrent within a classified statement of financial position. This guidance is effective for annual reporting periods (including interim reporting periods within those periods) beginning after December 15, 2016. Early adoption is permitted. We are evaluating the impact of this guidance on our consolidated financial position, results of operations and cash flows. In February 2016, the FASB issued guidance which will replace most existing lease accounting guidance. This update requires an entity to recognize leased assets and the rights and obligations created by those leased assets on the balance sheet and to disclose key information about the entity's leasing arrangements. This guidance is effective for annual reporting periods (including interim reporting periods within those periods) beginning after December 15, 2018. Early adoption is permitted. We are evaluating the impact of this guidance on our consolidated financial position, results of operations and cash flows. In March 2016, the FASB issued guidance intended to simplify several areas of accounting for share-based compensation arrangements, including the income tax impact, classification in the statement of cash flows and forfeitures. This guidance is effective for annual reporting periods (including interim reporting periods within those periods) beginning after December 15, 2016. Early adoption is permitted. We are evaluating the impact of this guidance on our consolidated financial position, results of operations and cash flows.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Apr. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 4 - Fair Value Measurements The accounting standards related to fair value measurements define fair value and provide a consistent framework for measuring fair value under the authoritative literature. Valuation techniques are based on observable and unobservable inputs. Observable inputs reflect readily obtainable data from independent sources, while unobservable inputs reflect market assumptions. This guidance only applies when other standards require or permit the fair value measurement of assets and liabilities. The guidance does not expand the use of fair value measurements. A fair value hierarchy was established, which prioritizes the inputs used in measuring fair value into three broad levels. · Level 1 – Quoted prices in active markets for identical assets or liabilities; · Level 2 – Observable market-based inputs or unobservable inputs that are corroborated by market data; and · Level 3 – Significant unobservable inputs that are not corroborated by market data. Generally, these fair value measures are model-based valuation techniques such as discounted cash flows, and are based on the best information available, including our own data. Fair values of our long-lived assets are estimated using an income-based approach and are classified within Level 3 of the valuation hierarchy. The following table presents assets that are measured at fair value on a recurring basis at April 30, 2016, Fair Value Measurements (In thousands) Level 1 Level 2 Level 3 Total As of April 30, 2016: Cash equivalents – money market account $ 5,388 $ 0 $ 0 $ 5,388 As of January 30, 2016: Cash equivalents– money market account $ 5,386 $ 0 $ 0 $ 5,386 As of May 2, 2015: Cash equivalents – money market account $ 5,280 $ 0 $ 0 $ 5,280 The fair values of cash, receivables, accounts payable, accrued expenses and other current liabilities approximate their carrying values because of their short-term nature. From time to time, we measure certain assets at fair value on a non-recurring basis, specifically long-lived assets evaluated for impairment. These are typically store specific assets, which are reviewed for impairment whenever events or changes in circumstances indicate that recoverability of their carrying value is questionable. If the expected future cash flows related to a store’s assets are less than their carrying value, an impairment loss would be recognized for the difference between estimated fair value and carrying value and recorded in selling, general and administrative expenses. We estimate the fair value of store assets using an income-based approach considering the cash flows expected over the remaining lease term for each location. These projections are primarily based on management’s estimates of store-level sales, gross margins, direct expenses, exercise of future lease renewal options and resulting cash flows and, by their nature, include judgments about how current initiatives will impact future performance. External factors, such as the local environment in which the store resides, including strip-mall traffic and competition, are evaluated in terms of their effect on sales trends. Changes in sales and operating income assumptions or unfavorable changes in external factors can significantly impact the estimated future cash flows. An increase or decrease in the projected cash flow can significantly decrease or increase the fair value of these assets, which would have an effect on the impairment recorded. There were no impairments of long-lived assets recorded during the thirteen weeks ended April 30, 2016. During the thirteen weeks ended May 2, 2015, we recorded an impairment charge of $51,000 on long-lived assets held and used with a gross carrying amount of $529,000, which was included in earnings for the period. Subsequent to this impairment, these long-lived assets had a remaining unamortized basis of $143,000. We operate nine stores in Puerto Rico with combined net book value of long-lived assets of $5.0 million. Puerto Rico is experiencing an economic crisis characterized by a deep recession and defaults on its public sector debt. Our estimate of undiscounted cash flows indicates that the carrying amounts of long-lived assets are expected to be recovered. Our estimate of cash flows might change in future periods pending further developments in the economic environment in Puerto Rico.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Apr. 30, 2016
Share-based Compensation [Abstract]
Stock Based Compensation	Note 5 - Stock-Based Compensation Stock-based compensation includes stock options, cash-settled stock appreciation rights (SARs) and restricted stock awards. Additionally, we recognize stock-based compensation expense for the discount on shares sold to employees through our employee stock purchase plan. Stock-based compensation expense for the employee stock purchase plan was $13,000 before the income tax benefit of $5,000 and $10,000 before the income tax benefit of $4,000 for the thirteen weeks ended April 30, 2016 and May 2, 2015, respectively. The following section summarizes the share transactions for our restricted stock awards: Number of Weighted- Average Restricted stock at January 30, 2016 829,492 $ 22.13 Granted 212,043 24.94 Vested (29,797 ) 26.07 Restricted stock at April 30, 2016 1,011,738 $ 22.60 The weighted-average grant date fair value of stock awards granted during the thirteen-week periods ended April 30, 2016 and May 2, 2015 was $24.94 and $24.30, respectively. The total fair value at grant date of previously non-vested stock awards that vested during the first quarter of fiscal 2016 was $777,000. The total fair value at grant date of previously non-vested stock awards that vested during the first quarter of fiscal 2015 was $28,000. The following section summarizes information regarding stock-based compensation expense recognized for restricted stock awards: (In thousands) Thirteen Weeks Thirteen Weeks Stock-based compensation expense before the recognized income tax benefit $ 489 $ 818 Income tax benefit $ 187 $ 318 As of April 30, 2016, approximately $11.3 million of unrecognized compensation expense remained related to both our performance-based and service-based restricted stock awards. The cost is expected to be recognized over a weighted average period of approximately 2.4 years. This incorporates our current assumptions with respect to the estimated requisite service period required to achieve the designated performance conditions for performance-based stock awards. The following table summarizes the SARs activity: Number of Weighted- Average Weighted- Average Outstanding at January 30, 2016 147,550 $ 24.26 Forfeited (4,375 ) 24.26 Exercised (2,750 ) 24.26 Outstanding at April 30, 2016 140,425 $ 24.26 3.9 Exercisable at April 30, 2016 45,557 $ 24.26 3.9 SARs were granted during the first quarter of fiscal 2015 to certain non-executive employees, such that one-third of the shares underlying the SARs will vest and become fully exercisable on each of the first three anniversaries of the date of the grant and were assigned a five-year term from the date of grant, after which any unexercised SARs will expire. Each SAR entitles the holder, upon exercise of their vested shares, to receive cash in an amount equal to the closing price of our stock on the date of exercise less the exercise price, with a maximum amount of gain defined. The SARs granted during the first quarter of fiscal 2015 were issued with a defined maximum gain of $10.00 over the exercise price of $24.26. The fair value of these liability awards are remeasured, using a trinomial lattice model, at each reporting period until the date of settlement. Increases or decreases in stock-based compensation expense are recognized over the vesting period, or immediately for vested awards. The weighted-average fair value of outstanding, non-vested SAR awards as of April 30, 2016 and May 2, 2015 was $4.57 and $4.58, respectively. The fair value was estimated using a trinomial lattice model with the following assumptions: April 30, 2016 May 2, 2015 Risk free interest rate yield curve 0.16% - 1.28% 0.00% - 1.50% Expected dividend yield 1.0 % 1.0 % Expected volatility 36.13 % 37.68 % Maximum life 3.9 Years 4.88 Years Exercise multiple 1.34 1.31 Maximum payout $ 10.00 $ 10.00 Employee exit rate 2.2% - 9.0% 2.2% - 9.0% The risk free interest rate was based on the U.S. Treasury yield curve in effect at the end of the reporting period. The expected dividend yield was based on our historical quarterly cash dividends, with the assumption that quarterly dividends would continue at that rate. Expected volatility was based on the historical volatility of our stock. The exercise multiple and employee exit rate were based on historical option data. The following table summarizes information regarding stock-based compensation expense recognized for SARs: (In thousands) Thirteen Weeks Thirteen Weeks Stock-based compensation expense before the recognized income tax benefit $ 140 $ 64 Income tax benefit $ 53 $ 25 As of April 30, 2016, approximately $254,000 in unrecognized compensation expense remained related to non-vested SARs. This expense is expected to be recognized over a weighted-average period of approximately 1.42 years.

Net Income Per Share (Tables)

Net Income Per Share (Tables)	3 Months Ended
	Apr. 30, 2016
Net income per share:
Schedule of the Computation of Basic and Diluted Earnings Per Share	The following tables set forth the computation of basic and diluted earnings per share as shown on the face of the accompanying Condensed Consolidated Statements of Income: Thirteen Weeks Ended April 30, 2016 May 2, 2015 (In thousands, except per share data) Basic Earnings per Share: Net Income Shares Per Share Amount Net Income Shares Per Share Amount Net income $ 10,661 $ 10,396 Amount allocated to participating securities (213 ) (195 ) Net income available for basic common shares and basic earnings per share $ 10,448 18,775 $ 0.56 $ 10,201 19,588 $ 0.52 Diluted Earnings per Share: Net income $ 10,661 $ 10,396 Amount allocated to participating securities (213 ) (195 ) Adjustment for dilutive potential common shares 0 5 0 13 Net income available for diluted common shares and diluted earnings per share $ 10,448 18,780 $ 0.56 $ 10,201 19,601 $ 0.52

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Apr. 30, 2016
Fair Value Disclosures [Abstract]
Schedule of Assets Measured at Fair Value on a Recurring Basis	The following table presents assets that are measured at fair value on a recurring basis at April 30, 2016, Fair Value Measurements (In thousands) Level 1 Level 2 Level 3 Total As of April 30, 2016: Cash equivalents – money market account $ 5,388 $ 0 $ 0 $ 5,388 As of January 30, 2016: Cash equivalents– money market account $ 5,386 $ 0 $ 0 $ 5,386 As of May 2, 2015: Cash equivalents – money market account $ 5,280 $ 0 $ 0 $ 5,280

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Apr. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of Restricted Stock Awards Transactions	The following section summarizes the share transactions for our restricted stock awards: Number of Weighted- Average Restricted stock at January 30, 2016 829,492 $ 22.13 Granted 212,043 24.94 Vested (29,797 ) 26.07 Restricted stock at April 30, 2016 1,011,738 $ 22.60
Schedule of SARs Assumptions	The fair value was estimated using a trinomial lattice model with the following assumptions: April 30, 2016 May 2, 2015 Risk free interest rate yield curve 0.16% - 1.28% 0.00% - 1.50% Expected dividend yield 1.0 % 1.0 % Expected volatility 36.13 % 37.68 % Maximum life 3.9 Years 4.88 Years Exercise multiple 1.34 1.31 Maximum payout $ 10.00 $ 10.00 Employee exit rate 2.2% - 9.0% 2.2% - 9.0%
Summary of SARs Activity	The following table summarizes the SARs activity: Number of Weighted- Average Weighted- Average Outstanding at January 30, 2016 147,550 $ 24.26 Forfeited (4,375 ) 24.26 Exercised (2,750 ) 24.26 Outstanding at April 30, 2016 140,425 $ 24.26 3.9 Exercisable at April 30, 2016 45,557 $ 24.26 3.9
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of Stock Compensation Expense	The following section summarizes information regarding stock-based compensation expense recognized for restricted stock awards: (In thousands) Thirteen Weeks Thirteen Weeks Stock-based compensation expense before the recognized income tax benefit $ 489 $ 818 Income tax benefit $ 187 $ 318
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of Stock Compensation Expense	The following table summarizes information regarding stock-based compensation expense recognized for SARs: (In thousands) Thirteen Weeks Thirteen Weeks Stock-based compensation expense before the recognized income tax benefit $ 140 $ 64 Income tax benefit $ 53 $ 25

Net Income Per Share (Details)

Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 30, 2016	May. 02, 2015
Basic Earnings per Share:
Net income	$ 10,661	$ 10,396
Amount allocated to participating securities	(213)	(195)
Net income available for basic common shares and basic earnings per share	$ 10,448	$ 10,201
Net income available for basic common shares and basic earnings per share, Shares	18,775	19,588
Net income available for basic common shares and basic earnings per share, Per Share Amount	$ 0.56	$ 0.52
Diluted Earnings per Share:
Net income	$ 10,661	$ 10,396
Amount allocated to participating securities	(213)	(195)
Adjustment for dilutive potential common shares	$ 0	$ 0
Adjustment for dilutive potential common shares, Shares	5	13
Net income available for diluted common shares and diluted earnings per share	$ 10,448	$ 10,201
Net income available for diluted common shares and diluted earnings per share, Shares	18,780	19,601
Net income available for diluted common shares and diluted earnings per share, Per Share Amount	$ 0.56	$ 0.52

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($)	3 Months Ended
	Apr. 30, 2016	May. 02, 2015
Fair Value Disclosures [Abstract]
Long-lived assets, gross carrying amount	$ 5,000,000	$ 529,000
Long-lived assets, impairment charges	$ 0	51,000
Remaining unamortized basis		$ 143,000

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Assets Measure at Fair Value on Recurring Basis) (Details) - USD ($) $ in Thousands	Apr. 30, 2016	Jan. 30, 2016	May. 02, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents - money market fund	$ 5,388	$ 5,386	$ 5,280
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents - money market fund	5,388	5,386	5,280
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents - money market fund	0	0	0
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents - money market fund	$ 0	$ 0	$ 0

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($)	3 Months Ended
	Apr. 30, 2016	May. 02, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense - ESPP	$ 13,000	$ 10,000
Income tax benefit - ESPP	5,000	4,000
Total fair value of non-vested stock awards	$ 777,000	$ 28,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value of awards	$ 24.94	$ 24.30
Unrecognized share-based compensation expense	$ 11,300,000
Unrecognized compensation cost, recognition period	2 years 4 months 24 days
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value of awards	$ 4.57	$ 4.58
Unrecognized share-based compensation expense	$ 254,000
Unrecognized compensation cost, recognition period	1 year 5 months 1 day
Vesting percentage		0.33%
Vesting period		3 years
Expiration period		5 years
Defined maximum gain	$ 10	$ 10
Exercise price		$ 24.26

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary of Restricted Stock Awards Transactions) (Details) - Restricted Stock [Member] - $ / shares	3 Months Ended
	Apr. 30, 2016	May. 02, 2015
Number of Shares
Restricted stock at January 30, 2016	829,492
Granted	212,043
Vested	(29,797)
Restricted stock at April 30, 2016	1,011,738
Weighted-Average Exercise Price
Restricted stock at January 30, 2016	$ 22.13
Granted	24.94	$ 24.30
Vested	26.07
Restricted stock at April 30, 2016	$ 22.60

Stock-Based Compensation (Sum21

Stock-Based Compensation (Summary of Restricted Stock Awards and SARs Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 30, 2016	May. 02, 2015
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense before the recognized income tax benefit	$ 489	$ 818
Income tax benefit	187	318
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense before the recognized income tax benefit	140	64
Income tax benefit	$ 53	$ 25

Stock-Based Compensation (Sum22

Stock-Based Compensation (Summary of SARs Activity) (Details) - Stock Appreciation Rights (SARs) [Member]	3 Months Ended
	Apr. 30, 2016$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at January 30, 2016 | shares	147,550
Forfeited | shares	(4,375)
Exercised | shares	(2,750)
Outstanding at April 30, 2016 | shares	140,425
Exercisable at April 30, 2016 | shares	45,557
Outstanding at January 30, 2016 | $ / shares	$ 24.26
Forfeited | $ / shares	24.26
Exercised | $ / shares	24.26
Outstanding at April 30, 2016 | $ / shares	24.26
Exercisable at April 30, 2016 | $ / shares	$ 24.26
Outstanding at April 30, 2016	3 years 10 months 24 days
Exercisable at April 30, 2016	3 years 10 months 24 days

Stock-Based Compensation (Sched

Stock-Based Compensation (Schedule of SARs Assumptions) (Details) - Stock Appreciation Rights (SARs) [Member] - $ / shares	3 Months Ended
	Apr. 30, 2016	May. 02, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate yield curve, minimum	0.16%	0.00%
Risk free interest rate yield curve, maximum	1.28%	1.50%
Expected dividend yield	1.00%	1.00%
Expected volatility	36.13%	37.68%
Maximum life	3 years 10 months 24 days	4 years 10 months 17 days
Exercise multiple	1.34	1.31
Maximum payout	$ 10	$ 10
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee exit rate	2.20%	2.20%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee exit rate	9.00%	9.00%