Chico's Fas (CHS) 10-Q 11 Jun 19 2019 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	May 04, 2019	May 28, 2019
Document And Entity Information [Abstract]
Entity Registrant Name	CHICOS FAS INC
Entity Central Index Key	0000897429
Current Fiscal Year End Date	--02-01
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	May 4, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Emerging Growth Company	false
Entity Small Business	false
Trading Symbol	CHS
Entity Common Stock, Shares Outstanding		117,944,837

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	May 04, 2019	May 05, 2018
Income Statement [Abstract]
Net Sales	$ 517,728	$ 561,815
Net Sales, as a Percentage	100.00%	100.00%
Cost of goods sold	$ 326,897	$ 334,947
Cost of goods sold, as a Percentage of Sales	63.10%	59.60%
Gross Margin	$ 190,831	$ 226,868
Gross Margin, as a Percentage of Sales	36.90%	40.40%
Selling, general and administrative expenses	$ 185,408	$ 186,419
Selling, general and administrative expenses, as a Percentage of Sales	35.90%	33.20%
Income from Operations	$ 5,423	$ 40,449
Income from Operations, as a Percentage of Sales	1.00%	7.20%
Interest income (expense), net	$ 2	$ (245)
Interest income (expense), net, as a Percentage of Sales	0.00%	0.00%
Income before Income Taxes	$ 5,425	$ 40,204
Income before Income Taxes, as a Percentage of Sales	1.00%	7.20%
Income tax provision	$ 3,400	$ 11,200
Income tax provision, as a Percentage of Sales	0.60%	2.00%
Net Income	$ 2,025	$ 29,004
Net Income, as a Percentage of Sales	0.40%	5.20%
Per Share Data:
Net income per common share - basic (in dollars per share)	$ 0.02	$ 0.23
Net income per common and common equivalent share – diluted (in dollars per share)	$ 0.02	$ 0.23
Weighted average common shares outstanding – basic (in shares)	114,434	125,277
Weighted average common and common equivalent shares outstanding – diluted (in shares)	114,787	125,316

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	May 04, 2019	May 05, 2018
Statement of Comprehensive Income [Abstract]
Net Income	$ 2,025	$ 29,004
Other comprehensive income:
Unrealized gains (losses) on marketable securities, net of taxes	63	(31)
Foreign currency translation losses	(82)	(68)
Comprehensive Income	$ 2,006	$ 28,905

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	May 04, 2019	Feb. 02, 2019	May 05, 2018
Current Assets:
Cash and cash equivalents	$ 105,141	$ 124,128	$ 193,547
Marketable securities, at fair value	62,836	61,987	61,196
Inventories	242,402	235,218	253,777
Prepaid expenses and other current assets	45,900	63,845	53,494
Total Current Assets	456,279	485,178	562,014
Property and Equipment, net	353,183	370,932	407,569
Right of Use Assets	729,950	0	0
Other Assets:
Goodwill	96,774	96,774	96,774
Other intangible assets, net	38,930	38,930	38,930
Other assets, net	16,099	15,220	10,707
Total Other Assets	151,803	150,924	146,411
Total Assets	1,691,215	1,007,034	1,115,994
Current Liabilities:
Accounts payable	135,964	143,404	138,439
Current lease liabilities	160,731	0	0
Current debt	0	0	15,000
Other current and deferred liabilities	120,919	131,820	145,893
Total Current Liabilities	417,614	275,224	299,332
Noncurrent Liabilities:
Long-term debt	53,750	57,500	49,868
Long-term lease liabilities	645,796	0	0
Other noncurrent and deferred liabilities	10,719	89,109	99,330
Deferred taxes	3,893	5,237	6,560
Total Noncurrent Liabilities	714,158	151,846	155,758
Commitments and Contingencies (see Note 11)
Shareholders’ Equity:
Preferred stock, $0.01 par value; 2,500 shares authorized; no shares issued and outstanding	0	0	0
Common stock, $0.01 par value; 400,000 shares authorized; 159,265 and 158,246 and 158,330 shares issued respectively; and 117,968 and 116,949 and 129,216 shares outstanding, respectively	1,180	1,169	1,292
Additional paid-in capital	485,805	486,406	471,458
Treasury stock, at cost, 41,297 and 41,297 and 29,114 shares, respectively	(494,395)	(494,395)	(413,465)
Retained earnings	567,233	587,145	601,801
Accumulated other comprehensive loss	(380)	(361)	(182)
Total Shareholders’ Equity	559,443	579,964	660,904
Total Liabilities and Shareholders' Equity	$ 1,691,215	$ 1,007,034	$ 1,115,994

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets - Parenthetical (Unaudited) - $ / shares	May 04, 2019	Feb. 02, 2019	May 05, 2018
Statement of Financial Position [Abstract]
Preferred share par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Preferred shares authorized (in shares)	2,500,000	2,500,000	2,500,000
Preferred shares issued (in shares)	0	0	0
Preferred shares outstanding (in shares)	0	0	0
Common share par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common shares authorized (in shares)	400,000,000	400,000,000	400,000,000
Common shares issued (in shares)	159,265,000	158,246,000	158,330,000
Common shares outstanding (in shares)	117,968,000	116,949,000	129,216,000
Treasury shares at cost (in shares)	41,297,000	41,297,000	29,114,000

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning Balance (in shares) at Feb. 03, 2018		127,471		29,114
Beginning Balance at Feb. 03, 2018	$ 656,382	$ 1,275	$ 468,806	$ (413,465)	$ 599,810	$ (44)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	29,004				29,004
Unrealized gain (loss) on marketable securities, net of taxes	(31)					(31)
Foreign currency translation adjustment	(68)					(68)
Issuance of common stock (in shares)		2,049
Issuance of common stock	605	$ 20	585
Dividends declared on common stock (in usd per share)	(21,998)				(21,998)
Repurchase of common stock and tax withholdings related to share-based awards (in shares)		(304)
Repurchase of common stock and tax withholdings related to share-based awards	(2,991)	$ (3)	(2,988)
Share-based compensation	5,055		5,055
Ending Balance (in shares) at May. 05, 2018		129,216		29,114
Ending Balance at May. 05, 2018	660,904	$ 1,292	471,458	$ (413,465)	601,801	(182)
Beginning Balance (in shares) at Feb. 02, 2019		116,949		41,297
Beginning Balance at Feb. 02, 2019	579,964	$ 1,169	486,406	$ (494,395)	587,145	(361)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	2,025				2,025
Unrealized gain (loss) on marketable securities, net of taxes	63					63
Foreign currency translation adjustment	(82)					(82)
Issuance of common stock (in shares)		1,441
Issuance of common stock	346	$ 15	331
Dividends declared on common stock (in usd per share)	(20,650)				(20,650)
Repurchase of common stock and tax withholdings related to share-based awards (in shares)		(422)
Repurchase of common stock and tax withholdings related to share-based awards	(2,430)	$ (4)	(2,426)
Share-based compensation	1,494		1,494
Ending Balance (in shares) at May. 04, 2019		117,968		41,297
Ending Balance at May. 04, 2019	$ 559,443	$ 1,180	$ 485,805	$ (494,395)	$ 567,233	$ (380)

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Stockholders' Equity - Parenthetical (Unaudited) - $ / shares	3 Months Ended
	May 04, 2019	May 05, 2018
Statement of Stockholders' Equity [Abstract]
Dividends paid on common stock (in usd per share)	$ 0.175	$ 0.17

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	May 04, 2019	May 05, 2018
Cash Flows from Operating Activities:
Net income	$ 2,025	$ 29,004
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	23,837	22,445
Non-cash lease expense	52,232	0
Loss on disposal and impairment of property and equipment, net	113	1,031
Deferred tax benefit	(732)	(838)
Share-based compensation expense	1,494	5,055
Deferred rent and lease credits	0	(5,594)
Changes in assets and liabilities:
Inventories	(7,184)	(20,875)
Prepaid expenses and other assets	(1,138)	12,270
Accounts payable	(17,745)	9,253
Accrued and other liabilities	9,685	10,143
Lease liabilities	(56,876)	0
Net cash provided by operating activities	5,711	61,894
Cash Flows from Investing Activities:
Purchases of marketable securities	(15,084)	(9,123)
Proceeds from sale of marketable securities	14,313	7,965
Purchases of property and equipment	(7,666)	(9,991)
Net cash used in investing activities	(8,437)	(11,149)
Cash Flows from Financing Activities:
Payments on borrowings	(3,750)	(3,750)
Proceeds from issuance of common stock	346	605
Dividends paid	(10,345)	(11,065)
Tax withholding payments related to share-based awards	(2,430)	(2,991)
Net cash used in financing activities	(16,179)	(17,201)
Effects of exchange rate changes on cash and cash equivalents	(82)	(68)
Net (decrease) increase in cash and cash equivalents	(18,987)	33,476
Cash and Cash Equivalents, Beginning of period	124,128	160,071
Cash and Cash Equivalents, End of period	105,141	193,547
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	576	710
Cash received for income taxes, net	$ (562)	$ (174)

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	May 04, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying unaudited condensed consolidated financial statements of Chico’s FAS, Inc. and its wholly-owned subsidiaries (collectively, the “Company”) have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and notes required by accounting principles generally accepted in the U.S. for complete financial statements. In the opinion of management, such interim financial statements reflect all normal, recurring adjustments considered necessary to present fairly the condensed consolidated financial position, the results of operations and cash flows for the interim periods presented. All significant intercompany balances and transactions have been eliminated in consolidation. For further information, refer to the consolidated financial statements and notes thereto for the fiscal year ended February 2, 2019 , included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 19, 2019 . As used in this report, all references to “we,” “us,” “our” and “the Company,” refer to Chico’s FAS, Inc. and all of its wholly-owned subsidiaries. Our fiscal years end on the Saturday closest to January 31 and are designated by the calendar year in which the fiscal year commences. Operating results for the thirteen weeks ended May 4, 2019 are not necessarily indicative of the results that may be expected for the entire year. Adoption of New Accounting Pronouncements Effective February 3, 2019, the Company adopted the Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2016-02, Leases , which requires the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous guidance. The Company also adopted the package of practical expedients issued in subsequent ASUs related to ASU 2016-02. The original guidance required application on a modified retrospective basis with the earliest period presented. In August 2018, the FASB issued ASU 2018-11, Targeted Improvements , to Accounting Standard Codification (“ASC”) 842, Leases , which included a provision to apply ASC 842 at the adoption date and recognize a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption. The Company has elected to use the initial application date as the effective date of ASC 842. Consequently, the comparative periods are presented in accordance with ASC 840, Leases , and are not restated in accordance with ASC 842. As a result of the adoption of ASC 842, on February 3, 2019, we recorded operating lease right-of-use (“ROU”) assets of $764.1 million and lease liabilities of $845.7 million . On February 3, 2019, the Company recorded a cumulative effect adjustment of $1.3 million as a decrease to opening retained earnings upon adoption of ASC 842. The adoption of ASC 842 had an immaterial impact on our unaudited condensed consolidated results of operations and statement of cash flows for the three months ended May 4, 2019 . Additional information and disclosures required by this new standard are contained in Note 4, Leases. Leases Beginning on February 3, 2019, the Company accounts for leases pursuant ASC 842 as established by ASU 2016-02. We determine if an arrangement is a lease at inception. Operating leases are included in ROU assets, current lease liabilities and long-term lease liabilities in our unaudited consolidated balance sheet. The Company does not have finance leases in the periods presented. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of fixed lease payments over the lease term. The operating lease ROU asset represents the net present value of fixed payments required under the lease, discounted at the Company’s incremental borrowing rate, offset by impairments and lease incentives such as tenant improvements and deferred rent balances. Our leases do not provide an implicit rate. Accordingly, we use the Company’s incremental borrowing rate at commencement date in determining the present value of lease payments over the lease term. Furthermore, we elected to apply a portfolio approach, using the same discount rate applied to a portfolio of leases for similar asset types with a similar lease term. Our lease terms may include options to extend or terminate the lease. When it is reasonably certain that we will exercise an option to extend or terminate a lease, the Company will adjust its ROU asset and lease liability. For leases with no impairment of the ROU asset, lease expense is recognized on a straight-line basis over the lease term. For stores with impairment of the ROU asset, lease expense consists of straight-line amortization of the ROU asset and the implicit interest expense on the lease liability. We have lease agreements with lease and non-lease components. We have made a policy election to treat both lease and non-lease components as a single component and account for the full consideration as a single lease component. This policy election is applied to all asset classes for which the Company is a lessee. We lease retail stores and a limited amount of office space under operating leases. The majority of our lease agreements provide for tenant improvement allowances, rent escalation clauses and/or contingent rent provisions. Tenant improvement allowances, fixed rent escalation clauses and impairments are included in the ROU asset computation. Certain leases provide for contingent rents based on defined criteria, such as gross sales in excess of a specified level. We record a contingent rent liability in accrued liabilities on the consolidated balance sheets and the corresponding rent expense when the criteria has been achieved or is probable.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	3 Months Ended
	May 04, 2019
Accounting Changes and Error Corrections [Abstract]
Recently Issued Accounting Pronouncements	RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS In August 2018, the FASB issued ASU 2018-13 , Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement, which modifies the disclosure requirements on fair value measurements. ASU 2018-13 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2019. The amendments related to the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively. All other amendments should be applied retrospectively. An entity is permitted to early adopt any removed or modified disclosures upon issuance of ASU 2018-13 and delay adoption of the additional disclosures until their effective date. We do not anticipate adoption to have a material impact on the Company’s unaudited condensed consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments . The update and additional changes, modifications, clarifications, or interpretations related to this guidance thereafter, changes the methodology for measuring credit losses on financial instruments and the timing of when such losses are recorded. The guidance is to be applied using the modified-retrospective approach. The standard is effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, including interim periods within those fiscal years. We are currently evaluating the impact the adoption will have on our unaudited consolidated financial statements.

Revenue Recognition

Revenue Recognition	3 Months Ended
	May 04, 2019
Revenue from Contract with Customer [Abstract]
Revenue Recognition	REVENUE RECOGNITION Disaggregated Revenue The following table disaggregates our operating segment revenue by brand, which we believe provides a meaningful depiction of the nature of our revenue. Amounts shown include licensing and wholesale income, which is not a significant component of total revenue, and is aggregated within the respective brands in the table below. Thirteen Weeks Ended May 4, 2019 May 5, 2018 Chico's $ 276,702 53.4 % $ 300,936 53.6 % WHBM 160,945 31.1 182,648 32.5 Soma 80,081 15.5 78,231 13.9 Total Net Sales $ 517,728 100.0 % $ 561,815 100.0 % Accounting Policies The Company recognizes revenue pursuant ASC 606 as established by ASU 2014-09 (“ASC 606”). Retail sales by our stores are recorded at the point of sale and are net of estimated customer returns, sales discounts under rewards programs and Company issued coupons, promotional discounts and employee discounts. Sales from our websites and catalogs are recognized at the time of shipment. Amounts related to shipping and handling costs billed to customers are recorded in net sales and the related shipping and handling costs are recorded in cost of goods sold in the accompanying unaudited condensed consolidated statements of income. Amounts paid by customers to cover shipping and handling costs are immaterial. Our policy towards taxes assessed by a government authority directly imposed on revenue producing transactions between a seller and a customer is, and has been, to exclude all such taxes from revenue. Licensing and wholesale income, which is not a significant component of total revenue, is recognized based upon delivery of products, except when the customer has a contractual right of return. We sell gift cards in stores, on our e-commerce website and through third parties. Our gift cards do not have expiration dates. We account for gift cards by recognizing a liability at the time the gift card is sold. The liability is relieved and revenue is recognized, net of third party sales commissions, for gift cards upon redemption. In addition, we recognize revenue for the amount of gift cards expected to go unredeemed (commonly referred to as gift card breakage) under the redemption recognition method. This method records gift card breakage as revenue on a proportional basis over the redemption period based on our historical gift card breakage rate. We determine the gift card breakage rate based on our historical redemption patterns. We recognize revenue on the remaining unredeemed gift cards based on determining that the likelihood of the gift card being redeemed is remote and that there is no legal obligation to remit the unredeemed gift cards to relevant jurisdictions. Soma offers a points-based loyalty program in which customers earn points based on purchases. Attaining specified loyalty point levels results in the issuance of reward coupons to discount future purchases. As program members accumulate points, we accrue the estimated future liability, adjusted for expected redemption rates and expirations. The liability is relieved and revenue is recognized for loyalty point reward coupons upon redemption. In addition, we recognize revenue on unredeemed points when it can be determined that the likelihood of the point being redeemed is remote and there is no legal obligation to remit the point value. We determine the loyalty point breakage rate based on historical and redemption patterns. As part of the normal sales cycle, we receive customer merchandise returns related to store, website and catalog sales. To account for the financial impact of potential customer merchandise returns, we estimate future returns on previously sold merchandise. Reductions in sales and gross margin are recorded for estimated merchandise returns based on return history, current sales levels and projected future return levels. The Company’s accounting policies and treatment over revenue recognition are consistent with the provisions of ASC 606 and represent a faithful depiction of the transfer of promised goods or services to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Contract Liability Contract liabilities on the unaudited condensed consolidated balance sheet were comprised of obligations associated with our gift card and customer loyalty programs. As of May 4, 2019 and February 2, 2019 , contract liabilities primarily consisted of gift cards of $35.0 million and $42.6 million , respectively. For the thirteen weeks ended May 4, 2019 , the Company recognized $11.9 million of revenue that was previously included in the gift card contract liability as of February 2, 2019 . The contract liability for our loyalty program was not material as of May 4, 2019 or February 2, 2019 . Performance Obligation For the thirteen weeks ended May 4, 2019

Leases

Leases	3 Months Ended
	May 04, 2019
Leases [Abstract]
LEASES	LEASES We lease retail stores, a limited amount of office space and certain equipment under operating leases expiring in various years through the fiscal year ending 2029. All of our leases have been classified as operating leases and are recognized and measured as such. Certain operating leases provide for renewal options that at a pre-determined period and rental value. Furthermore, certain leases provide that we may cancel the lease if our retail sales at that location fall below an established level. Within the first few years of the initial lease term, a majority of our store operating leases contain cancellation clauses that allow the leases to be terminated at our discretion, if certain minimum sales levels are not met. In the normal course of business, operating leases are typically renewed or replaced by other leases. Escalation of operating lease payments of certain leases depend on an existing index or rate, such as the consumer price index or the market interest rate. These are considered variable lease payments and are included in lease payments when the escalation is known. Operating lease expense was as follows: Thirteen Weeks Ended May 4, 2019 Operating lease cost (1) $ 64,902 (1) Includes $8.0 million in variable lease costs. Supplemental balance sheet information related to operating leases was as follows: May 4, 2019 Right of Use Assets $ 729,950 Current lease liabilities $ 160,731 Long-term lease liabilities 645,796 Total operating lease liabilities $ 806,527 Weighted Average Remaining Lease Term (years) 5.2 Weighted Average Discount Rate (1) 5.8 % (1) The incremental borrowing rate used by the Company is based on the rate at which the Company could borrow funds using its credit rating for a collateralized loan of similar term to the lease. The weighted average discount rate represents a weighted average of the incremental borrowing rate for each lease weighted based on the remaining fixed lease obligations. Supplemental cash flow information related to operating leases was as follows: Thirteen Weeks Ended May 4, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows $ 56,876 Right of use assets obtained in exchange for lease obligations, non-cash 6,028 Maturities of operating lease liabilities were as follows: Fiscal Year Ending: February 1, 2020 $ 148,654 January 30, 2021 209,463 January 29, 2022 183,961 January 28, 2023 146,545 February 4, 2024 98,023 Thereafter 150,812 Total future minimum lease payments $ 937,458 Less imputed interest (130,931 ) Total $ 806,527

Retail Fleet Optimization Plan

Retail Fleet Optimization Plan	3 Months Ended
	May 04, 2019
Property, Plant and Equipment [Abstract]
Retail Fleet Optimization Plan	RETAIL FLEET OPTIMIZATION PLAN In the fourth quarter of fiscal 2018, the Company announced a retail fleet optimization plan to rebalance the mix between our physical store presence and our digital network with the closure of at least 250 stores in the United States in fiscal years 2019-2021. Under this plan, we expect to close approximately 100 Chico's, 90 WHBM and 60 Soma locations in fiscal years 2019-2021, with the majority of the closings occurring in fiscal years 2020 and 2021. This initiative is part of the Company's efforts to better capitalize on its omnichannel platform, reduce costs and improve profitability and return on invested capital. For the thirteen weeks ended May 4, 2019 , the Company recorded $4.9 million in pre-tax accelerated depreciation of property and equipment within cost of goods sold associated with this retail fleet optimization plan. Accelerated depreciation on property and equipment reflects the impact of a change in the useful life of store assets for store closures added as a result of the Company’s retail fleet optimization plan.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	May 04, 2019
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	SHARE-BASED COMPENSATION For the thirteen weeks ended May 4, 2019 and May 5, 2018 , share-based compensation expense was $1.5 million and $5.1 million , respectively. As of May 4, 2019 , approximately 5.3 million shares remain available for future grants of equity awards under our Amended and Restated 2012 Omnibus Stock and Incentive Plan, which was amended and restated effective June 22, 2017. Restricted Stock Awards Restricted stock awards vest in equal annual installments over a three -year period from the date of grant. Restricted stock award activity for the thirteen weeks ended May 4, 2019 was as follows: Number of Weighted Unvested, beginning of period 2,715,466 $ 10.92 Granted 2,338,690 4.76 Vested (1,043,156 ) 11.72 Forfeited (849,773 ) 7.56 Unvested, end of period 3,161,227 7.00 Performance-based Restricted Stock Units For the thirteen weeks ended May 4, 2019 , we granted performance-based restricted stock units (“PSUs”), contingent upon the achievement of Company-specific performance goals during the three fiscal years 2019 - 2021 . Any units earned as a result of the achievement of this goal will vest 100% three years from the date of grant and will be settled in shares of our common stock. Performance-based restricted stock unit activity for the thirteen weeks ended May 4, 2019 was as follows: Number of Units/ Weighted Unvested, beginning of period 1,067,338 $ 11.40 Granted 1,170,650 4.23 Vested (244,628 ) 13.19 Forfeited (927,109 ) 7.60 Unvested, end of period 1,066,251 6.42 Stock Option Awards For the thirteen weeks ended May 4, 2019 and May 5, 2018 , we did not grant any stock options. Stock option activity for the thirteen weeks ended May 4, 2019 was as follows: Number of Weighted Outstanding, beginning of period 214,277 $ 13.54 Granted — — Exercised — — Forfeited or expired — — Outstanding and exercisable, end of period 214,277 13.54

Income Taxes

Income Taxes	3 Months Ended
	May 04, 2019
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The provision for income taxes is based on a current estimate of the annual effective tax rate and is adjusted as necessary for quarterly events. 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. For the thirteen weeks ended May 4, 2019 and May 5, 2018 , the Company’s effective tax rate was 62.7% and 27.9% , respectively. The effective tax rates of 62.7% and 27.9% included the recognition of $2.0 million and $1.1 million , respectively, of additional tax expense related to the accounting for employee share-based awards. The increase in the first

Earnings Per Share

Earnings Per Share	3 Months Ended
	May 04, 2019
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE In accordance with relevant accounting guidance, unvested share-based payment awards that include non-forfeitable rights to dividends, whether paid or unpaid, are considered participating securities. As a result, such awards are required to be included in the calculation of earnings per common share pursuant to the “two-class” method. For the Company, participating securities are comprised entirely of unvested restricted stock awards and PSUs that have met their relevant performance criteria. Earnings per share (“EPS”) is determined using the two-class method when it is more dilutive than the treasury stock method. Basic EPS excludes dilution and is computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding during the period, including participating securities. Diluted EPS reflects the dilutive effect of potential common shares from non-participating securities such as stock options, PSUs and restricted stock units. The following table sets forth the computation of basic and diluted income per share shown on the face of the accompanying condensed consolidated statements of income: Thirteen Weeks Ended May 4, 2019 May 5, 2018 Numerator Net income $ 2,025 $ 29,004 Net income and dividends declared allocated to participating securities — (714 ) Net income available to common shareholders $ 2,025 $ 28,290 Denominator Weighted average common shares outstanding – basic 114,434 125,277 Dilutive effect of non-participating securities 353 39 Weighted average common and common equivalent shares outstanding – diluted 114,787 125,316 Net Income per Common Share: Basic $ 0.02 $ 0.23 Diluted $ 0.02 $ 0.23 For the thirteen weeks ended May 4, 2019 and May 5, 2018 , 0.7 million and 0.6 million potential shares of common stock, respectively, were excluded from the diluted per share calculation relating to non-participating securities, because the effect of including these potential shares was antidilutive.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	May 04, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Our financial instruments consist of cash, money market accounts, marketable securities, assets held in our non-qualified deferred compensation plan, accounts receivable and payable, and debt. Cash, accounts receivable and accounts payable are carried at cost, which approximates their fair value due to the short-term nature of the instruments. Marketable securities are classified as available-for-sale and as of May 4, 2019 generally consist of corporate bonds, commercial paper, U.S. government agencies and municipal securities, with $34.3 million of securities with maturity dates within one year or less and $28.5 million with maturity dates over one year and less than two years. We consider all marketable securities available-for-sale, including those with maturity dates beyond 12 months, and therefore classify these securities within current assets on the condensed consolidated balance sheets as they are available to support current operational liquidity needs. Marketable securities are carried at fair value, with the unrealized holding gains and losses, net of income taxes, reflected in accumulated other comprehensive income until realized. For the purposes of computing realized and unrealized gains and losses, cost is determined on a specific identification basis. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. Entities are required to use a three-level hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability on the measurement date. The three levels are defined as follows: Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities Level 2 — Unadjusted quoted prices in active markets for similar assets or liabilities; or Unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active; or Inputs other than quoted prices that are observable for the asset or liability Level 3 — Unobservable inputs for the asset or liability We measure certain financial assets at fair value on a recurring basis, including our marketable securities, which are classified as available-for-sale securities, certain cash equivalents, specifically our money market accounts and assets held in our non-qualified deferred compensation plan. The money market accounts are valued based on quoted market prices in active markets. Our marketable securities are generally valued based on other observable inputs for those securities (including market corroborated pricing or other models that utilize observable inputs such as interest rates and yield curves) based on information provided by independent third-party pricing entities, except for U.S. government securities which are valued based on quoted market prices in active markets. The investments in our non-qualified deferred compensation plan are valued using quoted market prices and are included in other assets on our consolidated balance sheets. From time to time, we measure certain assets at fair value on a non-recurring basis. This includes the evaluation of long-lived assets, goodwill and other intangible assets for impairment using Company-specific assumptions which would fall within Level 3 of the fair value hierarchy. We assess the carrying amount of long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company uses market participant rents to calculate fair value of ROU assets and discounted future cash flows of the asset or asset group using a discount rate that approximates the cost of capital of a market participant to quantify fair value for other long-lived assets. The asset group is defined as the lowest level for which identifiable cash flows are available and largely independent of the cash flows of other groups of assets, which for our retail stores, is primarily at the store level. On February 3, 2019, the Company recorded a transition day fair value impairment on our ROU asset of $1.3 million , after-tax, as a decrease to opening retained earnings upon adoption of ASC 842. To assess the fair value of goodwill, we utilize both an income approach and a market approach. Inputs used to calculate the fair value based on the income approach primarily include estimated future cash flows, discounted at a rate that approximates the cost of capital of a market participant. Inputs used to calculate the fair value based on the market approach include identifying sales and EBITDA multiples based on guidelines for similar publicly traded companies and recent transactions. To assess the fair value of trade names, we utilize a relief from royalty approach. Inputs used to calculate the fair value of the trade names primarily include future sales projections, discounted at a rate that approximates the cost of capital of a market participant and an estimated royalty rate. As of May 4, 2019 and February 2, 2018, our revolving loan and letter of credit facility approximates fair value as this instrument has a variable interest rate which approximates current market rates (Level 2 criteria). To assess the fair value of long-term debt as of May 5, 2018 , we utilized a discounted future cash flow model using current borrowing rates for similar types of debt of comparable maturities. Fair value calculations contain significant judgments and estimates, which may differ from actual results due to, among other things, economic conditions, changes to the business model or changes in operating performance. During the quarter ended May 4, 2019 , we did not make any transfers between Level 1 and Level 2 financial assets. Furthermore, as of May 4, 2019 , February 2, 2019 and May 5, 2018 , we did not have any Level 3 financial assets measured on a recurring basis. We conduct reviews on a quarterly basis to verify pricing, assess liquidity and determine if significant inputs have changed that would impact the fair value hierarchy disclosure. In accordance with the provisions of the guidance, we categorized our financial assets and liabilities which are valued on a recurring basis, based on the priority of the inputs to the valuation technique for the instruments, as follows: Fair Value Measurements at Reporting Date Using Balance as of May 4, 2019 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Financial Assets: Current Assets Cash equivalents: Money market accounts $ 328 $ 328 $ — $ — Marketable securities: Corporate bonds 59,893 — 59,893 — Commercial paper 2,943 — 2,943 — Noncurrent Assets Deferred compensation plan 6,872 6,872 — — Total $ 70,036 $ 7,200 $ 62,836 $ — Financial Liabilities: Long-term debt (1) $ 53,750 $ — $ 53,750 $ — Balance as of February 2, 2019 Financial Assets: Current Assets Cash equivalents: Money market accounts $ 711 $ 711 $ — $ — Marketable securities: Corporate bonds 60,281 — 60,281 — Commercial paper 1,706 — 1,706 — Noncurrent Assets Deferred compensation plan 6,644 6,644 — — Total $ 69,342 $ 7,355 $ 61,987 $ — Financial Liabilities: Long-term debt (1) $ 57,500 $ — $ 57,500 $ — Balance as of May 5, 2018 Financial Assets: Current Assets Cash equivalents: Money market accounts $ 311 $ 311 $ — $ — Marketable securities: Municipal securities 3,462 — 3,462 — U.S. government agencies 12,755 — 12,755 — Corporate bonds 42,992 — 42,992 — Commercial paper 1,987 — 1,987 — Noncurrent Assets Deferred compensation plan 7,044 7,044 — — Total $ 68,551 $ 7,355 $ 61,196 $ — Financial Liabilities: Long-term debt (1) $ 64,868 $ — $ 65,309 $ — (1) The carrying value of long-term debt as of May 5, 2018 includes the current and long-term portions and the remaining unamortized debt issuance costs. As of May 4, 2019 and February 2, 2019, long-term debt consists only of borrowings under our revolving credit facility as further discussed in Note 10.

Debt

Debt	3 Months Ended
	May 04, 2019
Debt Disclosure [Abstract]
Debt	DEBT On August 2, 2018, the Company and certain of its domestic subsidiaries entered into a credit agreement (the “Agreement”) as borrowers and guarantors, with Wells Fargo Bank, National Association, as Agent, letter of credit issuer and swing line lender, and certain lenders party thereto. Our obligations under the Agreement are guaranteed by the subsidiary guarantors and secured by a lien on certain assets of the Company and the subsidiary borrowers and guarantors, including inventory, accounts receivable, cash deposits, and certain insurance proceeds. The Agreement provides for a five-year asset-based senior secured revolving loan and letter of credit facility of up to $200 million , maturing August 2, 2023. In addition, during the term of the Agreement, the Company may increase the commitments under the Agreement by up to an additional $100 million , subject to customary conditions, including obtaining the agreements from the lenders to provide such commitment increase. The interest rate applicable to the loans under the Agreement will be equal to, at the Company’s option, either a base rate, determined by reference to the federal funds rate, plus an interest rate margin, or a LIBO rate, plus an interest rate margin, in each case, depending on availability under the Agreement. The Company expects borrowings to be at a LIBO rate, plus an interest rate margin. In addition, the Company will pay a commitment fee per annum on the unused portion of the commitments under the Agreement. The Agreement contains customary representations, warranties, and affirmative covenants, as well as customary negative covenants, that, among other things restrict, subject to certain exceptions, the ability of the Company and certain of its domestic subsidiaries to: (i) incur liens, (ii) make investments, (iii) issue or incur additional indebtedness, (iv) undergo significant corporate changes, including mergers and acquisitions, (v) make dispositions, (vi) make restricted payments, (vii) prepay other indebtedness and (viii) enter into certain other restrictive agreements. The Company may pay cash dividends and repurchase shares under its share buyback program, subject to certain thresholds of available borrowings based upon the lesser of the aggregate amount of commitments under the Agreement and the borrowing base (the “Loan Cap”), determined after giving effect to any such transaction or payment, on a pro forma basis. As of May 4, 2019 , our outstanding debt consisted of $53.8 million in borrowings under the Agreement, resulting in $146.2 million available for borrowings under the revolving loan and letter of credit facility. As of May 4, 2019 , an unamortized debt discount of $0.5 million was outstanding related to the Agreement and is presented in other current assets in the accompanying unaudited consolidated balance sheet. The credit agreement entered into on May 4, 2015 with JPMorgan Chase Bank, N.A., as Administrative Agent, Bank of America, N.A., as Syndication Agent and other lenders, which was unsecured and had provided for a term loan commitment in the amount of $100 million and a $100 million revolving credit facility, was terminated on August 2, 2018 in connection with the Company entering into the Agreement described above, and all outstanding amounts thereunder were repaid. We used the proceeds from the initial draw of the revolving loan of the Agreement to repay such obligations. The following table provides additional detail on our outstanding debt: May 4, 2019 February 2, 2019 May 5, 2018 Credit Agreement, net $ 53,750 $ 57,500 $ 64,868 Less: current portion — — (15,000 ) Total Long-Term Debt $ 53,750 $ 57,500 $ 49,868

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	May 04, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES In July 2015, White House Black Market, Inc. (“WHBM”) was named as a defendant in Altman v. White House Black Market, Inc., a putative class action filed in the United States District Court for the Northern District of Georgia (“District Court”). The complaint alleges that WHBM, in violation of federal law, willfully published more than the last five digits of a credit or debit card number on customers’ point-of-sale receipts. The plaintiff seeks an award of statutory damages of $100 to $1,000 for each alleged willful violation of the law, as well as attorneys’ fees, costs and punitive damages. WHBM denies the material allegations of the complaint and believes the case is without merit. On February 12, 2018, the District Court issued an order certifying the class. On April 9, 2018, the District Court, sua sponte, issued an order granting WHBM’s earlier 2016 request to appeal, to the Eleventh Circuit Court of Appeals (“Eleventh Circuit”), the District Court’s ruling that the plaintiff has standing to maintain the lawsuit. On April 19, 2018, WHBM filed a petition for review in the Eleventh Circuit. In the meantime, the District Court stayed all further proceedings in the case pending the outcome of the appeal in the Eleventh Circuit. On July 12, 2018, the plaintiff and WHBM notified the Eleventh Circuit that the plaintiff and WHBM had reached a class settlement on all claims and therefore voluntarily dismissed WHBM’s appeal to the Eleventh Circuit. On August 2, 2018, the District Court reopened the case for purposes of reviewing/approving the proposed settlement. On October 22, 2018, the plaintiff filed the settlement papers with the District Court, along with a motion to stay the District Court’s consideration of the settlement pending the Eleventh Circuit’s final disposition of Muransky v. Godiva Chocolatier, Inc., in which the Eleventh Circuit held, in an opinion issued October 3, 2018, that the display of the first five and last four digits of a credit or debit card number on a customer’s receipt given at the point of sale establishes a “concrete injury” sufficient to confer Article III standing, enabling the customer to maintain a lawsuit. The motion to stay was granted on November 15, 2018. A petition for rehearing was filed in the Muransky case on October 24, 2018 and is currently pending before the Eleventh Circuit. The Muransky opinion, if not altered on the petition for rehearing, would bind the District Court in the Altman case and likely establish that the plaintiff has standing to maintain her lawsuit against WHBM. In such event, the stay will be lifted and the proposed settlement will be reviewed by the District Court. If the Eleventh Circuit does not find standing in the Muransky case, the parties have agreed to submit the proposed settlement to the Superior Court for Cobb County, Georgia for approval. The proposed settlement would not have a material adverse effect on the Company’s consolidated financial condition or results of operations. However, no assurance can be given that the proposed settlement will be approved. If the proposed settlement is rejected and the case were to proceed as a class action and WHBM were to be unsuccessful in its defense on the merits, then the ultimate resolution of the case could have a material adverse effect on the Company’s consolidated financial condition or results of operations. In May 2016, Chico’s Retail Services, Inc. (“CRS”) was named as a defendant in Corporate Cleaners, Inc. v. Chico’s Retail Services, Inc., an action filed in the Seventeenth Judicial Circuit of Florida. The plaintiff alleges that CRS breached a contract (and related amendments thereto) with the plaintiff by, among other reasons, failing to pay outstanding invoices and failing to allow the plaintiff the exclusive right to provide certain cleaning services. The plaintiff seeks an award of lost profits, lost revenue, as well as attorneys’ fees and costs. CRS denies the material allegations brought by the plaintiff and filed a counterclaim seeking recovery of amounts associated with alleged misrepresentations by the plaintiff as to the quantity of inventory units cleaned by the plaintiff. Discovery, including document productions, depositions, as well as expert discovery, remains ongoing. On September 4, 2018, CRS and the plaintiff participated in mediation. Although unsuccessful at that time, the mediation remains adjourned with the expectation that the parties will continue mediation after expert disclosures have been exchanged. CRS’ expert was deposed in April 2019. A trial date is set for September 17, 2019. No assurance can be given that CRS will be successful in its defense of this case or in its counterclaim. However, management does not believe that any resolution of the case would have a material adverse effect on the Company’s consolidated financial condition or results of operations. In May 2019, the Company was named as a defendant in Fisher v. Chico’s FAS, Inc., a putative class action filed in the United States District Court for the Southern District of California. The complaint alleges that the Company advertised fictitious prices and corresponding phantom discounts on its made-for-outlet products in its Chico’s outlets in violation of California’s Unfair Competition Laws, California’s False Advertising Laws and the California Consumer Legal Remedies Act. The plaintiff seeks disgorgement of the Company’s profits and alleged unjust enrichment resulting from such advertising practices, injunctive relief, a corrective advertising campaign, as well as attorneys’ fees and costs. The Company was served on May 10, 2019 and its response is due May 31, 2019. The Company is currently investigating the underlying allegations and will vigorously defend the case. At this time, it is not possible to predict whether this matter ultimately will be permitted to proceed as a class action, and no assurance can be given as to the ultimate outcome of this matter. However, if the matter were to proceed as a class action and the Company were to be unsuccessful in its defense on the merits, then the ultimate resolution of the case could have a material adverse effect on the Company’s consolidated financial condition or results of operations. Other than as noted above, we are not currently a party to any material legal proceedings other than claims and lawsuits arising in the normal course of business. All such matters are subject to uncertainties, and outcomes may not be predictable. Consequently, the ultimate aggregate amounts of monetary liability or financial impact with respect to these matters as of May 4, 2019 are not estimable. However, while such matters could affect our consolidated operating results when resolved in future periods, management believes that upon final disposition, any monetary liability or financial impact to us would not be material to our annual consolidated financial statements.

Subsequent Events

Subsequent Events	3 Months Ended
	May 04, 2019
Subsequent Events [Abstract]
Subsequent Events	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">SUBSEQUENT EVENTS</font></div><div style="line-height:120%;padding-top:8px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:10pt;background-color:#ffef87;color:#0900ff;">Professional and Legal Fees Related to unsolicited proposal(s) [Legal to provide language]</font></div></div>

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	May 04, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements of Chico’s FAS, Inc. and its wholly-owned subsidiaries (collectively, the “Company”) have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and notes required by accounting principles generally accepted in the U.S. for complete financial statements. In the opinion of management, such interim financial statements reflect all normal, recurring adjustments considered necessary to present fairly the condensed consolidated financial position, the results of operations and cash flows for the interim periods presented. All significant intercompany balances and transactions have been eliminated in consolidation.
Leases	Leases Beginning on February 3, 2019, the Company accounts for leases pursuant ASC 842 as established by ASU 2016-02. We determine if an arrangement is a lease at inception. Operating leases are included in ROU assets, current lease liabilities and long-term lease liabilities in our unaudited consolidated balance sheet. The Company does not have finance leases in the periods presented. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of fixed lease payments over the lease term. The operating lease ROU asset represents the net present value of fixed payments required under the lease, discounted at the Company’s incremental borrowing rate, offset by impairments and lease incentives such as tenant improvements and deferred rent balances. Our leases do not provide an implicit rate. Accordingly, we use the Company’s incremental borrowing rate at commencement date in determining the present value of lease payments over the lease term. Furthermore, we elected to apply a portfolio approach, using the same discount rate applied to a portfolio of leases for similar asset types with a similar lease term. Our lease terms may include options to extend or terminate the lease. When it is reasonably certain that we will exercise an option to extend or terminate a lease, the Company will adjust its ROU asset and lease liability. For leases with no impairment of the ROU asset, lease expense is recognized on a straight-line basis over the lease term. For stores with impairment of the ROU asset, lease expense consists of straight-line amortization of the ROU asset and the implicit interest expense on the lease liability. We have lease agreements with lease and non-lease components. We have made a policy election to treat both lease and non-lease components as a single component and account for the full consideration as a single lease component. This policy election is applied to all asset classes for which the Company is a lessee. We lease retail stores and a limited amount of office space under operating leases. The majority of our lease agreements provide for tenant improvement allowances, rent escalation clauses and/or contingent rent provisions. Tenant improvement allowances, fixed rent escalation clauses and impairments are included in the ROU asset computation. Certain leases provide for contingent rents based on defined criteria, such as gross sales in excess of a specified level. We record a contingent rent liability in accrued liabilities on the consolidated balance sheets and the corresponding rent expense when the criteria has been achieved or is probable.
New Accounting Pronouncements	Adoption of New Accounting Pronouncements Effective February 3, 2019, the Company adopted the Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2016-02, Leases , which requires the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases under previous guidance. The Company also adopted the package of practical expedients issued in subsequent ASUs related to ASU 2016-02. The original guidance required application on a modified retrospective basis with the earliest period presented. In August 2018, the FASB issued ASU 2018-11, Targeted Improvements , to Accounting Standard Codification (“ASC”) 842, Leases , which included a provision to apply ASC 842 at the adoption date and recognize a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption. The Company has elected to use the initial application date as the effective date of ASC 842. Consequently, the comparative periods are presented in accordance with ASC 840, Leases , and are not restated in accordance with ASC 842. As a result of the adoption of ASC 842, on February 3, 2019, we recorded operating lease right-of-use (“ROU”) assets of $764.1 million and lease liabilities of $845.7 million . On February 3, 2019, the Company recorded a cumulative effect adjustment of $1.3 million as a decrease to opening retained earnings upon adoption of ASC 842. The adoption of ASC 842 had an immaterial impact on our unaudited condensed consolidated results of operations and statement of cash flows for the three months ended May 4, 2019 . Additional information and disclosures required by this new standard are contained in Note 4, Leases. In August 2018, the FASB issued ASU 2018-13 , Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement, which modifies the disclosure requirements on fair value measurements. ASU 2018-13 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2019. The amendments related to the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively. All other amendments should be applied retrospectively. An entity is permitted to early adopt any removed or modified disclosures upon issuance of ASU 2018-13 and delay adoption of the additional disclosures until their effective date. We do not anticipate adoption to have a material impact on the Company’s unaudited condensed consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments . The update and additional changes, modifications, clarifications, or interpretations related to this guidance thereafter, changes the methodology for measuring credit losses on financial instruments and the timing of when such losses are recorded. The guidance is to be applied using the modified-retrospective approach. The standard is effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, including interim periods within those fiscal years. We are currently evaluating the impact the adoption will have on our unaudited consolidated financial statements.
Revenue Recognition	The Company recognizes revenue pursuant ASC 606 as established by ASU 2014-09 (“ASC 606”). Retail sales by our stores are recorded at the point of sale and are net of estimated customer returns, sales discounts under rewards programs and Company issued coupons, promotional discounts and employee discounts. Sales from our websites and catalogs are recognized at the time of shipment. Amounts related to shipping and handling costs billed to customers are recorded in net sales and the related shipping and handling costs are recorded in cost of goods sold in the accompanying unaudited condensed consolidated statements of income. Amounts paid by customers to cover shipping and handling costs are immaterial. Our policy towards taxes assessed by a government authority directly imposed on revenue producing transactions between a seller and a customer is, and has been, to exclude all such taxes from revenue. Licensing and wholesale income, which is not a significant component of total revenue, is recognized based upon delivery of products, except when the customer has a contractual right of return. We sell gift cards in stores, on our e-commerce website and through third parties. Our gift cards do not have expiration dates. We account for gift cards by recognizing a liability at the time the gift card is sold. The liability is relieved and revenue is recognized, net of third party sales commissions, for gift cards upon redemption. In addition, we recognize revenue for the amount of gift cards expected to go unredeemed (commonly referred to as gift card breakage) under the redemption recognition method. This method records gift card breakage as revenue on a proportional basis over the redemption period based on our historical gift card breakage rate. We determine the gift card breakage rate based on our historical redemption patterns. We recognize revenue on the remaining unredeemed gift cards based on determining that the likelihood of the gift card being redeemed is remote and that there is no legal obligation to remit the unredeemed gift cards to relevant jurisdictions. Soma offers a points-based loyalty program in which customers earn points based on purchases. Attaining specified loyalty point levels results in the issuance of reward coupons to discount future purchases. As program members accumulate points, we accrue the estimated future liability, adjusted for expected redemption rates and expirations. The liability is relieved and revenue is recognized for loyalty point reward coupons upon redemption. In addition, we recognize revenue on unredeemed points when it can be determined that the likelihood of the point being redeemed is remote and there is no legal obligation to remit the point value. We determine the loyalty point breakage rate based on historical and redemption patterns. As part of the normal sales cycle, we receive customer merchandise returns related to store, website and catalog sales. To account for the financial impact of potential customer merchandise returns, we estimate future returns on previously sold merchandise. Reductions in sales and gross margin are recorded for estimated merchandise returns based on return history, current sales levels and projected future return levels. The Company’s accounting policies and treatment over revenue recognition are consistent with the provisions of ASC 606 and represent a faithful depiction of the transfer of promised goods or services to customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services.
Fair Value Measurements	FAIR VALUE MEASUREMENTS Our financial instruments consist of cash, money market accounts, marketable securities, assets held in our non-qualified deferred compensation plan, accounts receivable and payable, and debt. Cash, accounts receivable and accounts payable are carried at cost, which approximates their fair value due to the short-term nature of the instruments. Marketable securities are classified as available-for-sale and as of May 4, 2019 generally consist of corporate bonds, commercial paper, U.S. government agencies and municipal securities, with $34.3 million of securities with maturity dates within one year or less and $28.5 million with maturity dates over one year and less than two years. We consider all marketable securities available-for-sale, including those with maturity dates beyond 12 months, and therefore classify these securities within current assets on the condensed consolidated balance sheets as they are available to support current operational liquidity needs. Marketable securities are carried at fair value, with the unrealized holding gains and losses, net of income taxes, reflected in accumulated other comprehensive income until realized. For the purposes of computing realized and unrealized gains and losses, cost is determined on a specific identification basis. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. Entities are required to use a three-level hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability on the measurement date. The three levels are defined as follows: Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities Level 2 — Unadjusted quoted prices in active markets for similar assets or liabilities; or Unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active; or Inputs other than quoted prices that are observable for the asset or liability Level 3 — Unobservable inputs for the asset or liability We measure certain financial assets at fair value on a recurring basis, including our marketable securities, which are classified as available-for-sale securities, certain cash equivalents, specifically our money market accounts and assets held in our non-qualified deferred compensation plan. The money market accounts are valued based on quoted market prices in active markets. Our marketable securities are generally valued based on other observable inputs for those securities (including market corroborated pricing or other models that utilize observable inputs such as interest rates and yield curves) based on information provided by independent third-party pricing entities, except for U.S. government securities which are valued based on quoted market prices in active markets. The investments in our non-qualified deferred compensation plan are valued using quoted market prices and are included in other assets on our consolidated balance sheets. From time to time, we measure certain assets at fair value on a non-recurring basis. This includes the evaluation of long-lived assets, goodwill and other intangible assets for impairment using Company-specific assumptions which would fall within Level 3 of the fair value hierarchy. We assess the carrying amount of long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company uses market participant rents to calculate fair value of ROU assets and discounted future cash flows of the asset or asset group using a discount rate that approximates the cost of capital of a market participant to quantify fair value for other long-lived assets. The asset group is defined as the lowest level for which identifiable cash flows are available and largely independent of the cash flows of other groups of assets, which for our retail stores, is primarily at the store level. On February 3, 2019, the Company recorded a transition day fair value impairment on our ROU asset of $1.3 million , after-tax, as a decrease to opening retained earnings upon adoption of ASC 842. To assess the fair value of goodwill, we utilize both an income approach and a market approach. Inputs used to calculate the fair value based on the income approach primarily include estimated future cash flows, discounted at a rate that approximates the cost of capital of a market participant. Inputs used to calculate the fair value based on the market approach include identifying sales and EBITDA multiples based on guidelines for similar publicly traded companies and recent transactions. To assess the fair value of trade names, we utilize a relief from royalty approach. Inputs used to calculate the fair value of the trade names primarily include future sales projections, discounted at a rate that approximates the cost of capital of a market participant and an estimated royalty rate. As of May 4, 2019 and February 2, 2018, our revolving loan and letter of credit facility approximates fair value as this instrument has a variable interest rate which approximates current market rates (Level 2 criteria). To assess the fair value of long-term debt as of May 5, 2018 , we utilized a discounted future cash flow model using current borrowing rates for similar types of debt of comparable maturities. Fair value calculations contain significant judgments and estimates, which may differ from actual results due to, among other things, economic conditions, changes to the business model or changes in operating performance.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	May 04, 2019
Revenue from Contract with Customer [Abstract]
Schedule of the Disaggregation of Revenue by Brand	The following table disaggregates our operating segment revenue by brand, which we believe provides a meaningful depiction of the nature of our revenue. Amounts shown include licensing and wholesale income, which is not a significant component of total revenue, and is aggregated within the respective brands in the table below. Thirteen Weeks Ended May 4, 2019 May 5, 2018 Chico's $ 276,702 53.4 % $ 300,936 53.6 % WHBM 160,945 31.1 182,648 32.5 Soma 80,081 15.5 78,231 13.9 Total Net Sales $ 517,728 100.0 % $ 561,815 100.0 %

Leases (Tables)

Leases (Tables)	3 Months Ended
	May 04, 2019
Leases [Abstract]
Lease Cost	Supplemental cash flow information related to operating leases was as follows: Thirteen Weeks Ended May 4, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows $ 56,876 Right of use assets obtained in exchange for lease obligations, non-cash 6,028 Operating lease expense was as follows: Thirteen Weeks Ended May 4, 2019 Operating lease cost (1) $ 64,902 (1) Includes $8.0 million
Supplemental Balance Sheet Information Related to Operating Leases	Supplemental balance sheet information related to operating leases was as follows: May 4, 2019 Right of Use Assets $ 729,950 Current lease liabilities $ 160,731 Long-term lease liabilities 645,796 Total operating lease liabilities $ 806,527 Weighted Average Remaining Lease Term (years) 5.2 Weighted Average Discount Rate (1) 5.8 % (1) The incremental borrowing rate used by the Company is based on the rate at which the Company could borrow funds using its credit rating for a collateralized loan of similar term to the lease. The weighted average discount rate represents a weighted average of the incremental borrowing rate for each lease weighted based on the remaining fixed lease obligations.
Maturities of Operating Lease Liabilities	Maturities of operating lease liabilities were as follows: Fiscal Year Ending: February 1, 2020 $ 148,654 January 30, 2021 209,463 January 29, 2022 183,961 January 28, 2023 146,545 February 4, 2024 98,023 Thereafter 150,812 Total future minimum lease payments $ 937,458 Less imputed interest (130,931 ) Total $ 806,527

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	May 04, 2019
Share-based Payment Arrangement [Abstract]
Summary of Restricted Stock Activity	Restricted stock award activity for the thirteen weeks ended May 4, 2019 was as follows: Number of Weighted Unvested, beginning of period 2,715,466 $ 10.92 Granted 2,338,690 4.76 Vested (1,043,156 ) 11.72 Forfeited (849,773 ) 7.56 Unvested, end of period 3,161,227 7.00
Schedule of Performance-Based Restricted Stock Unit Activity	Performance-based restricted stock unit activity for the thirteen weeks ended May 4, 2019 was as follows: Number of Units/ Weighted Unvested, beginning of period 1,067,338 $ 11.40 Granted 1,170,650 4.23 Vested (244,628 ) 13.19 Forfeited (927,109 ) 7.60 Unvested, end of period 1,066,251 6.42
Summary of Stock Option Activity	Stock option activity for the thirteen weeks ended May 4, 2019 was as follows: Number of Weighted Outstanding, beginning of period 214,277 $ 13.54 Granted — — Exercised — — Forfeited or expired — — Outstanding and exercisable, end of period 214,277 13.54

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	May 04, 2019
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted income per share shown on the face of the accompanying condensed consolidated statements of income: Thirteen Weeks Ended May 4, 2019 May 5, 2018 Numerator Net income $ 2,025 $ 29,004 Net income and dividends declared allocated to participating securities — (714 ) Net income available to common shareholders $ 2,025 $ 28,290 Denominator Weighted average common shares outstanding – basic 114,434 125,277 Dilutive effect of non-participating securities 353 39 Weighted average common and common equivalent shares outstanding – diluted 114,787 125,316 Net Income per Common Share: Basic $ 0.02 $ 0.23 Diluted $ 0.02 $ 0.23

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	May 04, 2019
Fair Value Disclosures [Abstract]
Schedule of Financial Assets Valued on a Recurring Basis	In accordance with the provisions of the guidance, we categorized our financial assets and liabilities which are valued on a recurring basis, based on the priority of the inputs to the valuation technique for the instruments, as follows: Fair Value Measurements at Reporting Date Using Balance as of May 4, 2019 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Financial Assets: Current Assets Cash equivalents: Money market accounts $ 328 $ 328 $ — $ — Marketable securities: Corporate bonds 59,893 — 59,893 — Commercial paper 2,943 — 2,943 — Noncurrent Assets Deferred compensation plan 6,872 6,872 — — Total $ 70,036 $ 7,200 $ 62,836 $ — Financial Liabilities: Long-term debt (1) $ 53,750 $ — $ 53,750 $ — Balance as of February 2, 2019 Financial Assets: Current Assets Cash equivalents: Money market accounts $ 711 $ 711 $ — $ — Marketable securities: Corporate bonds 60,281 — 60,281 — Commercial paper 1,706 — 1,706 — Noncurrent Assets Deferred compensation plan 6,644 6,644 — — Total $ 69,342 $ 7,355 $ 61,987 $ — Financial Liabilities: Long-term debt (1) $ 57,500 $ — $ 57,500 $ — Balance as of May 5, 2018 Financial Assets: Current Assets Cash equivalents: Money market accounts $ 311 $ 311 $ — $ — Marketable securities: Municipal securities 3,462 — 3,462 — U.S. government agencies 12,755 — 12,755 — Corporate bonds 42,992 — 42,992 — Commercial paper 1,987 — 1,987 — Noncurrent Assets Deferred compensation plan 7,044 7,044 — — Total $ 68,551 $ 7,355 $ 61,196 $ — Financial Liabilities: Long-term debt (1) $ 64,868 $ — $ 65,309 $ — (1) The carrying value of long-term debt as of May 5, 2018 includes the current and long-term portions and the remaining unamortized debt issuance costs. As of May 4, 2019 and February 2, 2019, long-term debt consists only of borrowings under our revolving credit facility as further discussed in Note 10.

Debt (Tables)

Debt (Tables)	3 Months Ended
	May 04, 2019
Debt Disclosure [Abstract]
Schedule of Outstanding Debt	The following table provides additional detail on our outstanding debt: May 4, 2019 February 2, 2019 May 5, 2018 Credit Agreement, net $ 53,750 $ 57,500 $ 64,868 Less: current portion — — (15,000 ) Total Long-Term Debt $ 53,750 $ 57,500 $ 49,868

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Adoption of Newly Adopted Accounting Standards (Details) - USD ($) $ in Thousands	Feb. 03, 2019	May 04, 2019	Feb. 02, 2019	May 05, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease, right-of-use asset		$ 729,950	$ 0	$ 0
Operating lease liability		$ 806,527
ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease, right-of-use asset	$ 764,100
Operating lease liability	845,700
Cumulative effect adjustment on retained earnings	$ 1,300

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	May 04, 2019	May 05, 2018	Feb. 02, 2019
Disaggregation of Revenue [Line Items]
Total Net Sales	$ 517,728	$ 561,815
Total Net Sales, as a percentage	100.00%	100.00%
Contract liabilities	$ 35,000		$ 42,600
Contract liability revenue recognized	11,900
Chico's
Disaggregation of Revenue [Line Items]
Total Net Sales	$ 276,702	$ 300,936
Total Net Sales, as a percentage	53.40%	53.60%
WHBM
Disaggregation of Revenue [Line Items]
Total Net Sales	$ 160,945	$ 182,648
Total Net Sales, as a percentage	31.10%	32.50%
Soma
Disaggregation of Revenue [Line Items]
Total Net Sales	$ 80,081	$ 78,231
Total Net Sales, as a percentage	15.50%	13.90%

Leases - Lease Costs (Details)

Leases - Lease Costs (Details) $ in Thousands	3 Months Ended
	May 04, 2019USD ($)
Leases [Abstract]
Operating lease cost	$ 64,902
Variable lease cost	$ 8,000

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information Related to Operating Leases (Details) - USD ($) $ in Thousands	May 04, 2019	Feb. 02, 2019	May 05, 2018
Leases [Abstract]
Right of Use Assets	$ 729,950	$ 0	$ 0
Current lease liabilities	160,731	0	0
Long-term lease liabilities	645,796	$ 0	$ 0
Total operating lease liabilities	$ 806,527
Weighted Average Remaining Lease Term (years)	5 years 2 months 12 days
Weighted Average Discount Rate (1)	5.80%

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information Related to Operating Leases (Details) $ in Thousands	3 Months Ended
	May 04, 2019USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows	$ 56,876
Right of use assets obtained in exchange for lease obligations, non-cash	$ 6,028

Leases - Maturities of Operatin

Leases - Maturities of Operating Lease Liabilities (Details) $ in Thousands	May 04, 2019USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
February 1, 2020	$ 148,654
January 30, 2021	209,463
January 29, 2022	183,961
January 28, 2023	146,545
February 4, 2024	98,023
Thereafter	150,812
Total future minimum lease payments	937,458
Less imputed interest	(130,931)
Total	$ 806,527

Retail Fleet Optimization Plan

Retail Fleet Optimization Plan (Details) - Retail Fleet Optimization Plan $ in Millions	3 Months Ended
	May 04, 2019USD ($)	Feb. 02, 2019store
Cost of Goods, Total
Property, Plant and Equipment [Line Items]
Accelerated depreciation | $	$ 4.9
United States
Property, Plant and Equipment [Line Items]
Number of store expected to be closed		250
Chico's | United States
Property, Plant and Equipment [Line Items]
Number of store expected to be closed		100
WHBM | United States
Property, Plant and Equipment [Line Items]
Number of store expected to be closed		90
Soma | United States
Property, Plant and Equipment [Line Items]
Number of store expected to be closed		60

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	May 04, 2019	May 05, 2018
Share-based Payment Arrangement [Abstract]
Compensation expense related to stock-based awards	$ 1,494	$ 5,055
Number of shares available for future grants (in shares)	5,300,000
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options granted (in shares)	0	0
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Performance-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rights, percentage	100.00%
Vesting period	3 years

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Restricted Stock Awards and Performance-based Restricted Stock Unit Activity (Details)	3 Months Ended
	May 04, 2019$ / sharesshares
Restricted Stock Awards
Number of Units/ Shares
Unvested, beginning of period (in shares) | shares	2,715,466
Granted (in shares) | shares	2,338,690
Vested (in shares) | shares	(1,043,156)
Forfeited (in shares) | shares	(849,773)
Unvested, end of period (in shares) | shares	3,161,227
Weighted Average Grant Date Fair Value
Unvested, beginning of period (in dollars per share) | $ / shares	$ 10.92
Granted (in dollars per share) | $ / shares	4.76
Vested (in dollars per share) | $ / shares	11.72
Forfeited (in dollars per share) | $ / shares	7.56
Unvested, end of period (in dollars per share) | $ / shares	$ 7
Performance-Based Restricted Stock Units
Number of Units/ Shares
Unvested, beginning of period (in shares) | shares	1,067,338
Granted (in shares) | shares	1,170,650
Vested (in shares) | shares	(244,628)
Forfeited (in shares) | shares	(927,109)
Unvested, end of period (in shares) | shares	1,066,251
Weighted Average Grant Date Fair Value
Unvested, beginning of period (in dollars per share) | $ / shares	$ 11.40
Granted (in dollars per share) | $ / shares	4.23
Vested (in dollars per share) | $ / shares	13.19
Forfeited (in dollars per share) | $ / shares	7.60
Unvested, end of period (in dollars per share) | $ / shares	$ 6.42

Share-Based Compensation - Su_2

Share-Based Compensation - Summary of Stock Option Activity (Details) - $ / shares	3 Months Ended
	May 04, 2019	May 05, 2018
Number of Options
Outstanding at beginning of period (in shares)	214,277
Granted (in shares)	0	0
Exercised (in shares)	0
Forfeited or expired (in shares)	0
Outstanding at end of period (in shares)	214,277
Exercisable at end of period (in shares)	214,277
Weighted Average Exercise Price
Outstanding at beginning of period (in dollars per share)	$ 13.54
Granted (in dollars per share)	0
Exercised (in dollars per share)	0
Forfeited or expired (in dollars per share)	0
Outstanding at end of period (in dollars per share)	13.54
Exercisable at end of period (in dollars per share)	$ 13.54

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	May 04, 2019	May 05, 2018
Income Tax Disclosure [Abstract]
Effective tax rate	62.70%	27.90%
Tax expense related to employee share-based awards	$ 2	$ 1.1

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	May 04, 2019	May 05, 2018
Numerator
Net Income	$ 2,025	$ 29,004
Net income and dividends declared allocated to participating securities	0	(714)
Net income available to common shareholders	$ 2,025	$ 28,290
Denominator
Weighted average common shares outstanding – basic (in shares)	114,434	125,277
Dilutive effect of non-participating securities (in shares)	353	39
Weighted average common and common equivalent shares outstanding – diluted (in shares)	114,787	125,316
Net Income per Common Share:
Basic (in dollars per share)	$ 0.02	$ 0.23
Diluted (in dollars per share)	$ 0.02	$ 0.23

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - shares shares in Millions	3 Months Ended
	May 04, 2019	May 05, 2018
Earnings Per Share [Abstract]
Number of antidilutive securities (in shares)	0.7	0.6

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	Feb. 03, 2019	May 04, 2019
Fair Value Disclosures [Abstract]
Securities with maturity dates within one year or less		$ 34.3
Securities with maturity dates over one year and less than two years		$ 28.5
ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect adjustment on retained earnings	$ 1.3

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets Valued on a Recurring Basis (Details) - USD ($) $ in Thousands	May 04, 2019	Feb. 02, 2019	May 05, 2018
Noncurrent Assets
Deferred compensation plan	$ 6,872	$ 6,644	$ 7,044
Total assets	70,036	69,342	68,551
Financial Liabilities:
Long-term debt	53,750	57,500	64,868
Quoted Prices in Active Markets for Identical Assets (Level 1)
Noncurrent Assets
Deferred compensation plan	6,872	6,644	7,044
Total assets	7,200	7,355	7,355
Financial Liabilities:
Long-term debt	0	0	0
Significant Other Observable Inputs (Level 2)
Noncurrent Assets
Deferred compensation plan	0	0	0
Total assets	62,836	61,987	61,196
Financial Liabilities:
Long-term debt	53,750	57,500	65,309
Significant Unobservable Inputs (Level 3)
Noncurrent Assets
Deferred compensation plan	0	0	0
Total assets	0	0	0
Financial Liabilities:
Long-term debt	0	0	0
Municipal securities
Current Assets
Marketable securities			3,462
Municipal securities | Quoted Prices in Active Markets for Identical Assets (Level 1)
Current Assets
Marketable securities			0
Municipal securities | Significant Other Observable Inputs (Level 2)
Current Assets
Marketable securities			3,462
Municipal securities | Significant Unobservable Inputs (Level 3)
Current Assets
Marketable securities			0
U.S. government agencies
Current Assets
Marketable securities			12,755
U.S. government agencies | Quoted Prices in Active Markets for Identical Assets (Level 1)
Current Assets
Marketable securities			0
U.S. government agencies | Significant Other Observable Inputs (Level 2)
Current Assets
Marketable securities			12,755
U.S. government agencies | Significant Unobservable Inputs (Level 3)
Current Assets
Marketable securities			0
Corporate bonds
Current Assets
Marketable securities	59,893	60,281	42,992
Corporate bonds | Quoted Prices in Active Markets for Identical Assets (Level 1)
Current Assets
Marketable securities	0	0	0
Corporate bonds | Significant Other Observable Inputs (Level 2)
Current Assets
Marketable securities	59,893	60,281	42,992
Corporate bonds | Significant Unobservable Inputs (Level 3)
Current Assets
Marketable securities	0	0	0
Commercial paper
Current Assets
Marketable securities	2,943	1,706	1,987
Commercial paper | Quoted Prices in Active Markets for Identical Assets (Level 1)
Current Assets
Marketable securities	0	0	0
Commercial paper | Significant Other Observable Inputs (Level 2)
Current Assets
Marketable securities	2,943	1,706	1,987
Commercial paper | Significant Unobservable Inputs (Level 3)
Current Assets
Marketable securities	0	0	0
Money market accounts
Current Assets
Cash equivalents	328	711	311
Money market accounts | Quoted Prices in Active Markets for Identical Assets (Level 1)
Current Assets
Cash equivalents	328	711	311
Money market accounts | Significant Other Observable Inputs (Level 2)
Current Assets
Cash equivalents	0	0	0
Money market accounts | Significant Unobservable Inputs (Level 3)
Current Assets
Cash equivalents	$ 0	$ 0	$ 0

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)	Aug. 02, 2018	May 04, 2019	May 04, 2015
Debt Instrument [Line Items]
Long-term debt		$ 53,800,000
Unamortized discount outstanding		$ 500,000
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Term of agreement		5 years
Borrowing capacity	$ 200,000,000		$ 100,000,000
Additional amount available upon request for increase	$ 100,000,000
Available for borrowing		$ 146,200,000
Term Loan
Debt Instrument [Line Items]
Face amount			$ 100,000,000

Debt - Schedule of Outstanding

Debt - Schedule of Outstanding Debt (Details) - USD ($) $ in Thousands	May 04, 2019	Feb. 02, 2019	May 05, 2018
Debt Disclosure [Abstract]
Credit Agreement, net	$ 53,750	$ 57,500	$ 64,868
Less: current portion	0	0	(15,000)
Total Long-Term Debt	$ 53,750	$ 57,500	$ 49,868

Commitments and Contingencies (

Commitments and Contingencies (Details) - Altman v. White House Black Market, Inc. - Pending Litigation	1 Months Ended
	Jul. 31, 2015USD ($)
Minimum
Loss Contingencies [Line Items]
Damages sought by plaintiff for each alleged willful violation of the law and other fees and costs	$ 100
Maximum
Loss Contingencies [Line Items]
Damages sought by plaintiff for each alleged willful violation of the law and other fees and costs	$ 1,000

Uncategorized Items - chs060719

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (1,287,000)
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(5,054,000)
Retained Earnings [Member]
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	585,858,000
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	594,795,000
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(1,287,000)
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (5,015,000)
Treasury Stock [Member]
Shares, Issued	us-gaap_SharesIssued	41,297,000
Shares, Issued	us-gaap_SharesIssued	29,114,000
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	$ (494,395,000)
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	(413,465,000)
Additional Paid-in Capital [Member]
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	468,806,000
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	$ 486,406,000
Common Stock [Member]
Shares, Issued	us-gaap_SharesIssued	116,949,000
Shares, Issued	us-gaap_SharesIssued	127,471,000
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	$ 1,275,000
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	1,169,000
AOCI Attributable to Parent [Member]
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	(83,000)
Stockholders' Equity Attributable to Parent	us-gaap_StockholdersEquity	(361,000)
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(39,000)
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 0