Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Aug. 03, 2019 | Feb. 02, 2019 | |
Class of Stock [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Aug. 3, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | THE CATO CORPORATION | |
Entity Central Index Key | 0000018255 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Current Fiscal Year End Date | --02-01 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Shell Company | false | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Security 12b Title | Class A - Common Stock, par value $.033 per share | |
Trading Symbol | CATO | |
Security Exchange Name | NYSE | |
Entity File Number | 1-31340 | |
Entity Incorporation State Country Code | DE | |
Entity TaxIdentification Number | 56-0484485 | |
Entity Address Address Line 1 | 8100 Denmark Road | |
Entity Address City Or Town | Charlotte | |
Entity Address State Or Province | NC | |
Entity Address Postal Zip Code | 28273-5975 | |
City Area Code | (704) | |
Local Phone Number | 554-8510 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Common Class A [Member] | ||
Class of Stock [Line Items] | ||
Common Stock Shares Issued | 23,002,629 | 22,838,149 |
Common Class B [Member] | ||
Class of Stock [Line Items] | ||
Common Stock Shares Issued | 1,763,652 | 1,763,652 |
Condensed Consolidated Income S
Condensed Consolidated Income Statements Of Income and Comprehensive Income - USD ($) | 3 Months Ended | 6 Months Ended | ||
Aug. 03, 2019 | Aug. 04, 2018 | Aug. 03, 2019 | Aug. 04, 2018 | |
Revenues | ||||
Retail sales | $ 210,357,000 | $ 206,848,000 | $ 438,423,000 | $ 442,873,000 |
Other Revenue (principally finance charges, late fees and layaway charges) | 2,224,000 | 2,069,000 | 4,510,000 | 4,344,000 |
Total revenues | 212,581,000 | 208,917,000 | 442,933,000 | 447,217,000 |
COSTS AND EXPENSES, NET | ||||
Cost of goods sold (exclusive of depreciation shown below) | 130,372,000 | 129,801,000 | 266,455,000 | 272,088,000 |
Selling, general and administrative (exclusive of depreciation shown below) | 66,066,000 | 68,892,000 | 132,056,000 | 134,851,000 |
Depreciation | 3,836,000 | 4,152,000 | 7,679,000 | 8,376,000 |
Interest and other income | 1,693,000 | 1,431,000 | 2,829,000 | 2,185,000 |
Cost and expenses, net | 198,581,000 | 201,414,000 | 403,361,000 | 413,130,000 |
Income before income taxes | 14,000,000 | 7,503,000 | 39,572,000 | 34,087,000 |
Income tax expense | 2,134,000 | 1,021,000 | 6,450,000 | 4,195,000 |
Net income | $ 11,866,000 | $ 6,482,000 | $ 33,122,000 | $ 29,892,000 |
Basic earnings per share | $ 0.48 | $ 0.26 | $ 1.34 | $ 1.20 |
Diluted earnings per share | 0.48 | 0.26 | $ 1.34 | $ 1.20 |
Dividends per share | $ 0.33 | $ 0.33 | ||
Comprehensive income | ||||
Net income | $ 11,866,000 | $ 6,482,000 | $ 33,122,000 | $ 29,892,000 |
Unrealized gain on available-for-sale securities, net of deferred income taxes | 859,000 | 314,000 | 1,271,000 | (78,000) |
Comprehensive Income | $ 12,725,000 | $ 6,796,000 | $ 34,393,000 | $ 29,814,000 |
Condensed Consolidated Income_2
Condensed Consolidated Income Statements Of Income and Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Aug. 03, 2019 | May 04, 2019 | Aug. 04, 2018 | May 05, 2018 | Aug. 03, 2019 | Aug. 04, 2018 | |
OtherComprehensiveIncomeLossTaxParentheticalDisclosuresAbstract | ||||||
Tax Effect of Unrealized Gains (Losses) On Available-For-Sale Securities | $ 262 | $ 126 | $ 98 | $ (122) | $ 388 | $ (24) |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Aug. 03, 2019 | Feb. 02, 2019 |
Current Assets: | ||
Cash and cash equivalents | $ 26,011,000 | $ 24,603,000 |
Short-term investments | 207,366,000 | 182,711,000 |
Restricted Cash | 2,137,000 | 606,000 |
Restricted Short term Investments | 1,718,000 | 3,196,000 |
Accounts receivable, net of allowance for doubtful accounts | 27,479,000 | 28,137,000 |
Merchandise inventories | 99,952,000 | 119,585,000 |
Prepaid expenses | 4,651,000 | 11,750,000 |
Total Current Assets | 369,314,000 | 370,588,000 |
Property and equipment - net | 89,567,000 | 94,304,000 |
DeferredTaxAssetsNetNoncurrent | 10,821,000 | 11,209,000 |
Other assets | 22,676,000 | 21,805,000 |
Right-of-Use assets - net | 164,988,000 | 0 |
Total Assets | 657,366,000 | 497,906,000 |
Current Liabilities: | ||
Accounts payable | 67,718,000 | 84,282,000 |
Accrued expenses | 44,452,000 | 45,658,000 |
Accrued benefits | 10,360,000 | 11,146,000 |
Accrued income taxes | 1,332,000 | 0 |
Current lease liability | 55,747,000 | 0 |
Total Current Liabilities | 179,609,000 | 141,086,000 |
Other noncurrent liabilities (primarily deferred rent) | 22,822,000 | 39,984,000 |
Lease liability | 120,317,000 | 0 |
Stockholders' Equity: | ||
Preferred stock, $100 par value per share, 100,000 shares authorized, none issued | 0 | 0 |
Class of Stock [Line Items] | ||
Additional paid-in capital | 108,057,000 | 105,580,000 |
Retained earnings | 224,536,000 | 210,507,000 |
Accumulated other comprehensive income | 1,194,000 | (77,000) |
Total Stockholders' Equity | 334,618,000 | 316,836,000 |
Liabilities And Stockholders Equity | 657,366,000 | 497,906,000 |
Common Class A [Member] | ||
Class of Stock [Line Items] | ||
Common stock | 772,000 | 767,000 |
Common Class B [Member] | ||
Class of Stock [Line Items] | ||
Common stock | $ 59,000 | $ 59,000 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) | Aug. 03, 2019 | Feb. 02, 2019 |
Class of Stock [Line Items] | ||
Allowance For Doubtful Accounts Receivable Current | $ 889,000 | $ 842,000 |
Preferred Stock Par Or Stated Value Per Share | $ 100 | |
Preferred Stock Shares Authorized | 100,000 | |
Common Class B [Member] | ||
Class of Stock [Line Items] | ||
Common Stock Shares Authorized | 15,000,000 | |
Common Stock Shares Issued | 1,763,652 | 1,763,652 |
Common Stock Par Or Stated Value Per Share | $ 0.033 | |
Common Class A [Member] | ||
Class of Stock [Line Items] | ||
Common Stock Shares Authorized | 50,000,000 | |
Common Stock Shares Issued | 23,002,629 | 22,838,149 |
Common Stock Par Or Stated Value Per Share | $ 0.033 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 6 Months Ended | |
Aug. 03, 2019 | Aug. 04, 2018 | |
OPERATING ACTIVITIES | ||
Net income | $ 33,122,000 | $ 29,892,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation | 7,679,000 | 8,376,000 |
Provision For Doubtful Accounts | 366,000 | 127,000 |
Purchase premium and premium amortization | (168,000) | 277,000 |
Share Based Compensation | 2,196,000 | 2,422,000 |
Loss on disposal of property and equipment | 344,000 | 414,000 |
Changes in operating assets and liabilities which provided (used) cash: | ||
Accounts receivable | 292,000 | (6,844,000) |
Merchandise inventories | 19,633,000 | 17,065,000 |
Prepaid and other assets | 22,909,000 | 11,453,000 |
Accrued income taxes | 1,332,000 | 1,022,000 |
Accounts payable, accrued expenses and other liabilities | (42,524,000) | (7,749,000) |
Net cash provided by operating activities | 45,181,000 | 56,455,000 |
INVESTING ACTIVITIES | ||
Capital expenditures | (2,217,000) | (1,879,000) |
Purchase of short-term investments | (106,518,000) | (111,245,000) |
Sales of short-term investments | 85,364,000 | 43,328,000 |
Payments to Acquire Projects | (74,000) | (107,000) |
Proceeds from Sale of Investment Projects | (9,000) | (4,000) |
Net cash used in investing activities | (23,436,000) | (69,899,000) |
FINANCING ACTIVITIES | ||
Dividends paid | (16,291,000) | (16,338,000) |
Repurchase of common stock | (2,834,000) | (10,461,000) |
Proceeds from employee stock purchase plan | 319,000 | 284,000 |
Proceeds From Stock Options Exercised | 0 | 189,000 |
Net cash provided used in financing activities | (18,806,000) | (26,326,000) |
Net increase in cash and cash equivalents | 2,939,000 | (39,770,000) |
Cash, Cash Equivalents and Restricted Cash at Beginning of Period | 25,209,000 | 81,264,000 |
Cash, Cash Equivalents and Restricted Cash at End of Period | 28,148,000 | 41,494,000 |
Change in Accrued PPE | 1,395,000 | 507,000 |
Change in Accrued Treasury Stock | $ 0 | $ 949,000 |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Equity - USD ($) | Total | Class A Common Stock | Convertible Class B Common Stock | Common Stock Including Additional Paid in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) |
Balance at Feb. 03, 2018 | $ 326,353,000 | $ 774,000 | $ 58,000 | $ 99,948,000 | $ 225,894,000 | $ (321,000) |
Net income | 23,410,000 | 0 | 0 | 0 | 23,410,000 | 0 |
Accumulated Other Comprehensive Income | 392,000 | 0 | 0 | 0 | 0 | 392,000 |
Dividends | (8,186,000) | 0 | 0 | 0 | (8,186,000) | 0 |
Class A common stock sold through employee stock purchase plan | 267,000 | 0 | 0 | 267,000 | 0 | 0 |
Class A common stock sold through stock option plans | 0 | 0 | 0 | 0 | 0 | 0 |
Class A common stock issued through restricted stock grant plans | 553,000 | 11,000 | 0 | 534,000 | 8,000 | 0 |
Retirement of treasury sharess | (760,000) | (2,000) | 0 | 0 | (758,000) | 0 |
Balance at May. 05, 2018 | 341,245,000 | 783,000 | 58,000 | 100,749,000 | 240,368,000 | (713,000) |
Balance at Feb. 03, 2018 | 326,353,000 | 774,000 | 58,000 | 99,948,000 | 225,894,000 | (321,000) |
Net income | 29,892,000 | |||||
Accumulated Other Comprehensive Income | 78,000 | |||||
Balance at Aug. 04, 2018 | 331,316,000 | 770,000 | 58,000 | 102,806,000 | 228,081,000 | (399,000) |
Balance at May. 05, 2018 | 341,245,000 | 783,000 | 58,000 | 100,749,000 | 240,368,000 | (713,000) |
Net income | 6,482,000 | 0 | 0 | 0 | 6,482,000 | 0 |
Accumulated Other Comprehensive Income | (314,000) | 0 | 0 | 0 | 0 | (314,000) |
Dividends | (8,152,000) | 0 | 0 | 0 | (8,152,000) | 0 |
Class A common stock sold through employee stock purchase plan | 71,000 | 1,000 | 0 | 70,000 | 0 | 0 |
Class A common stock sold through stock option plans | 190,000 | 0 | 0 | 190,000 | 0 | 0 |
Class A common stock issued through restricted stock grant plans | 1,815,000 | 0 | 0 | 1,797,000 | 18,000 | 0 |
Retirement of treasury sharess | (10,649,000) | (14,000) | 0 | 0 | (10,635,000) | 0 |
Balance at Aug. 04, 2018 | 331,316,000 | 770,000 | 58,000 | 102,806,000 | 228,081,000 | (399,000) |
Balance at Feb. 02, 2019 | 316,836,000 | 767,000 | 59,000 | 105,580,000 | 210,507,000 | (77,000) |
Net income | 21,256,000 | 0 | 0 | 0 | 21,256,000 | 0 |
Accumulated Other Comprehensive Income | (412,000) | 0 | 0 | 0 | 0 | (412,000) |
Dividends | (8,118,000) | 0 | 0 | 0 | (8,118,000) | 0 |
Class A common stock sold through employee stock purchase plan | 308,000 | 1,000 | 0 | 307,000 | 0 | 0 |
Class A common stock sold through stock option plans | 0 | 0 | 0 | 0 | 0 | 0 |
Class A common stock issued through restricted stock grant plans | 645,000 | 11,000 | 0 | 624,000 | 10,000 | 0 |
Retirement of treasury sharess | (2,834,000) | (7,000) | 0 | 0 | (2,827,000) | 0 |
Balance at May. 04, 2019 | 328,505,000 | 772,000 | 59,000 | 106,511,000 | 220,828,000 | 335,000 |
Balance at Feb. 02, 2019 | 316,836,000 | 767,000 | 59,000 | 105,580,000 | 210,507,000 | (77,000) |
Net income | 33,122,000 | |||||
Accumulated Other Comprehensive Income | (1,271,000) | |||||
Balance at Aug. 03, 2019 | 334,618,000 | 772,000 | 59,000 | 108,057,000 | 224,536,000 | 1,194,000 |
Balance at May. 04, 2019 | 328,505,000 | 772,000 | 59,000 | 106,511,000 | 220,828,000 | 335,000 |
Net income | 11,866,000 | 0 | 0 | 0 | 11,866,000 | 0 |
Accumulated Other Comprehensive Income | (859,000) | 0 | 0 | 0 | 0 | (859,000) |
Dividends | (8,173,000) | 0 | 0 | 0 | (8,173,000) | 0 |
Class A common stock sold through employee stock purchase plan | 67,000 | 0 | 0 | 67,000 | 0 | 0 |
Class A common stock sold through stock option plans | 0 | 0 | 0 | 0 | 0 | 0 |
Class A common stock issued through restricted stock grant plans | 1,494,000 | 0 | 0 | 1,479,000 | 15,000 | 0 |
Retirement of treasury sharess | 0 | 0 | 0 | 0 | 0 | 0 |
Balance at Aug. 03, 2019 | $ 334,618,000 | $ 772,000 | $ 59,000 | $ 108,057,000 | $ 224,536,000 | $ 1,194,000 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | |||
Aug. 03, 2019 | May 04, 2019 | Aug. 04, 2018 | May 05, 2018 | |
us-gaap_StatementOfStockholdersEquityAbstract | ||||
Tax Effect of Unrealized Gains (Losses) On Available-For-Sale Securities | $ 262 | $ 126 | $ 98 | $ (122) |
Stock Transactions, Parenthetical Disclosures [Abstract] | ||||
Dividends per share | $ 0.33 | $ 0.33 | $ 0.33 | $ 0.33 |
Class A common stock shares sold through employee stock purchase plans | 5,402 | 20,676 | 2,791 | 19,763 |
Exercised | 0 | 0 | 8,051 | 0 |
Class A common stock shares issued through restricted stock grant plans | (9,170) | 355,609 | 13,224 | 342,341 |
Retirement of treasury shares - retired shares | 0 | 208,041 | 423,200 | 52,904 |
General - Notes to Financial St
General - Notes to Financial Statements | 6 Months Ended |
Aug. 03, 2019 | |
General Dsiclosure [Abstract] | |
Summary of Significant Account Policies | NOTE 1 - GENERAL : The condensed consolidated financial statements have been prepared from the accounting records of The Cato Corporation and its wholly-owned subsidiaries (the “Company”), and all amounts shown as of and for the periods ended August 3, 2019 and August 4, 2018 are unaudited. In the opinion of management, all adjustments considered necessary for a fair statement have been included. All such adjustments are of a normal, recurring nature unless otherwise noted. The results of the interim period may not be indicative of the results expected for the entire year. The interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto, included in the Company’s Annual Report on Form 10-K for the fiscal year ended February 2, 2019. Amounts as of February 2, 2019 have been derived from the audited balance sheet, but do not include all disclosures required by accounting principles generally accepted in the United States of America. On August 29, 2019, the Board of Directors maintained the quarterly dividend at $ 0.33 per share. Recently Adopted Accounting Policies In 2016, the FASB issued Accounting Standard Codification (“ASC”) 842 - Leases , with amendments issued in 2018. The guidance requires lessees to recognize most leases on the balance sheet but does not change the manner in which expenses are recorded in the income statement. For lessors, the guidance modifies the classification criteria and the accounting for sales-type and direct financing leases. The Company utilized a comprehensive approach to assess the impact of this guidance on its financial statements and related disclosures, including the increase in the assets and liabilities on its balance sheet and the impact on its current lease portfolio from a lessee perspective. The Company completed its comprehensive review of its lease portfolio, which includes mostly store leases impacted by the new guidance. The Company reviewed its internal controls over leases and as a result the Company enhanced these controls; however, these changes are not considered material. In addition, the Company implemented a new software platform, and corresponding controls, for administering its leases and facilitating compliance with the new guidance. The Company elected the transition package of practical expedients that is permitted by the standard. The package of practical expedients allows the Company to not reassess previous accounting conclusions regarding whether existing arrangements are or contain leases, the classification of existing leases, and the treatment of initial direct costs. The Company did not elect the hindsight transition practical expedient allowed for by the new standard, which allows entities to use hindsight when determining lease term and impairment of right-of-use assets. The Company adopted ASC 842 utilizing the modified retrospective approach as of February 3, 2019. The modified retrospective approach the Company selected provides a method of transition allowing recognition of existing leases as of the beginning of the period of adoption (i.e., February 3, 2019), and which does not require the adjustment of comparative periods. The adoption had a material impact on the Company’s financial statements, resulting in an increase of 40% to each of its total assets and total liabilities on its balance sheet, but had no impact to retained earnings as of the beginning of 2019. See Note 12 for further information. |
Earnings Per Share - Notes to F
Earnings Per Share - Notes to Financial Statements | 6 Months Ended |
Aug. 03, 2019 | |
Earnings Per Share Disclosure [Abstract] | |
Earnings Per Share | NOTE 2 - EARNINGS PER SHARE: Accounting Standard Codification (“ASC”) 260 – Earnings Per Share requires dual presentation of basic and diluted Earnings Per Share (“EPS”) on the face of all income statements for all entities with complex capital structures. The Company has presented one basic EPS and one diluted EPS amount for all common shares in the accompanying Condensed Consolidated Statements of Income and Comprehensive Income. While the Company’s certificate of incorporation provides the right for the Board of Directors to declare dividends on Class A shares without declaration of commensurate dividends on Class B shares, the Company has historically paid the same dividends to both Class A and Class B shareholders and the Board of Directors has resolved to continue this practice. Accordingly, the Company’s allocation of income for purposes of the EPS computation is the same for Class A and Class B shares and the EPS amounts reported herein are applicable to both Class A and Class B shares. Basic EPS is computed as net income less earnings allocated to non-vested equity awards divided by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur from common shares issuable through stock options and the Employee Stock Purchase Plan. Three Months Ended Six Months Ended August 3, 2019 August 4, 2018 August 3, 2019 August 4, 2018 (Dollars in thousands) Numerator Net earnings $ 11,866 $ 6,482 $ 33,122 $ 29,892 (Earnings)/loss allocated to non-vested equity awards ( 451) ( 192) ( 1,148) ( 816) Net earnings available to common stockholders $ 11,415 $ 6,290 $ 31,974 $ 29,076 Denominator Basic weighted average common shares outstanding 23,789,070 24,131,481 23,772,883 24,166,539 Diluted weighted average common shares outstanding 23,789,070 24,131,481 23,772,883 24,166,539 Net income per common share Basic earnings per share $ 0.48 $ 0.26 $ 1.34 $ 1.20 Diluted earnings per share $ 0.48 $ 0.26 $ 1.34 $ 1.20 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 6 Months Ended |
Aug. 03, 2019 | |
AccumulatedOtherComprehensiveIncomeLossDisclosure[Abstract] | |
Accumulated Other Comprehensive Income (Loss) | NOTE 3 – ACCUMULATED OTHER COMPREHENSIVE INCOME: The following table sets forth information regarding the reclassification out of Accumulated other comprehensive income (in thousands) for the three months ended August 3, 2019: Changes in Accumulated Other Comprehensive Income (a) Unrealized Gains and (Losses) on Available-for-Sale Securities Beginning Balance at May 4, 2019 $ 335 Other comprehensive income before reclassification 829 Amounts reclassified from accumulated other comprehensive income (b) 30 Net current-period other comprehensive income 859 Ending Balance at August 3, 2019 $ 1,194 (a) All amounts are net-of-tax. Amounts in parentheses indicate a debit/reduction to other comprehensive income. (b) Includes $ 39 impact of accumulated other comprehensive income reclassifications into Interest and other income for net gains on available-for-sale securities. The tax impact of this reclassification was $ 9. The following table sets forth information regarding the reclassification out of Accumulated other comprehensive income (in thousands) for the six months ended August 3, 2019: Changes in Accumulated Other Comprehensive Income (a) Unrealized Gains and (Losses) on Available-for-Sale Securities Beginning Balance at February 2, 2019 $ ( 77) Other comprehensive income before reclassification 1,232 Amounts reclassified from accumulated other comprehensive income (b) 39 Net current-period other comprehensive income 1,271 Ending Balance at August 3, 2019 $ 1,194 (a) All amounts are net-of-tax. Amounts in parentheses indicate a debit/reduction to other comprehensive income. (b) Includes $ 51 impact of accumulated other comprehensive income reclassifications into Interest and other income for net gains on available-for-sale securities. The tax impact of this reclassification was $ 12. NOTE 3 – ACCUMULATED OTHER COMPREHENSIVE INCOME (CONTINUED): The following table sets forth information regarding the reclassification out of Accumulated other comprehensive income (in thousands) for the three months ended August 4, 2018: Changes in Accumulated Other Comprehensive Income (a) Unrealized Gains and (Losses) on Available-for-Sale Securities Beginning Balance at May 5, 2018 $ ( 713) Other comprehensive income before reclassifications 260 Amounts reclassified from accumulated other comprehensive income (b) 54 Net current-period other comprehensive income 314 Ending Balance at August 4, 2018 $ ( 399) (a) All amounts are net-of-tax. Amounts in parentheses indicate a debit/reduction to other comprehensive income. (b) Includes $ 71 impact of Accumulated other comprehensive income reclassifications into Interest and other income for net gains on available-for-sale securities. The tax impact of this reclassification was $ 17. The following table sets forth information regarding the reclassification out of Accumulated other comprehensive income (in thousands) for the six months ended August 4, 2018: Changes in Accumulated Other Comprehensive Income (a) Unrealized Gains and (Losses) on Available-for-Sale Securities Beginning Balance at February 3, 2018 $ ( 321) Other comprehensive income before reclassifications ( 131) Amounts reclassified from accumulated other comprehensive income (b) 53 Net current-period other comprehensive income ( 78) Ending Balance at August 4, 2018 $ ( 399) (a) All amounts are net-of-tax. Amounts in parentheses indicate a debit/reduction to other comprehensive income. (b) Includes $ 70 impact of Accumulated other comprehensive income reclassifications into Interest and other income for net gains on available-for-sale securities. The tax impact of this reclassification was $ 17. |
Financing Arrangements - Notes
Financing Arrangements - Notes to Financial Statements | 6 Months Ended |
Aug. 03, 2019 | |
Financing Arrangements [Abstract] | |
Financing Arrangements | NOTE 4 – FINANCING ARRANGEMENTS: As of August 3, 2019, the Company had an unsecured revolving credit agreement to borrow $ 35.0 million less the balance of any revocable letters of credit as discussed below. On May 24, 2019, the Company extended its revolving credit agreement through May 2022. The credit agreement contains various financial covenants and limitations, including the maintenance of specific financial ratios with which the Company was in compliance as of August 3, 2019. There were no borrowings outstanding under this credit facility during the periods ended August 3, 2019 or February 2, 2019. The weighted average interest rate under the credit facility was zero at August 3, 2019 due to no borrowings outstanding. At August 3, 2019 and February 2, 2019, the Company had no outstanding revocable letters of credit relating to purchase commitments. |
Reportable Segment Information
Reportable Segment Information - Notes to Financial Statements | 6 Months Ended |
Aug. 03, 2019 | |
Reportable Segment Information [Abstract] | |
Reportable Segment Information | NOTE 5 – REPORTABLE SEGMENT INFORMATION: The Company has determined that it has four operating segments, as defined under ASC 280-10, including Cato, It’s Fashion, Versona and Credit. As outlined in ASC 280-10, the Company has two reportable segments: Retail and Credit. The Company has aggregated its three retail operating segments, including e-commerce, based on the aggregation criteria outlined in ASC 280-10, which states that two or more operating segments may be aggregated into a single reportable segment if aggregation is consistent with the objective and basic principles of ASC 280-10, which require the segments to have similar economic characteristics, products, production processes, clients and methods of distribution. The Company’s retail operating segments have similar economic characteristics and similar operating, financial and competitive risks. They are similar in nature of product, as they all offer women’s apparel, shoes and accessories. Merchandise inventory for the Company’s retail operating segments is sourced from the same countries and some of the same vendors, using similar production processes. Merchandise for the Company’s operating segments is distributed to retail stores in a similar manner through the Company’s single distribution center and is subsequently distributed to clients in a similar manner. The Company operates its women’s fashion specialty retail stores in 31 states as of August 3, 2019, principally in the southeastern United States . The Company offers its own credit card to its customers and all credit authorizations, payment processing and collection efforts are performed by a separate subsidiary of the Company. NOTE 5 – REPORTABLE SEGMENT INFORMATION (CONTINUED): The following schedule summarizes certain segment information (in thousands): Three Months Ended Six Months Ended August 3, 2019 Retail Credit Total August 3, 2019 Retail Credit Total Revenues $ 211,672 $ 909 $ 212,581 Revenues $ 441,114 $ 1,819 $ 442,933 Depreciation 3,836 - 3,836 Depreciation 7,679 - 7,679 Interest and other income ( 1,693) - ( 1,693) Interest and other income ( 2,829) - ( 2,829) Income/(Loss) before income taxes 13,501 499 14,000 Income/(Loss) before income taxes 38,680 892 39,572 Capital expenditures 1,222 - 1,222 Capital expenditures 2,217 - 2,217 Three Months Ended Six Months Ended August 4, 2018 Retail Credit Total August 4, 2018 Retail Credit Total Revenues $ 207,971 $ 946 $ 208,917 Revenues $ 445,305 $ 1,912 $ 447,217 Depreciation 4,146 6 4,152 Depreciation 8,364 12 8,376 Interest and other income ( 1,431) - ( 1,431) Interest and other income ( 2,185) - ( 2,185) Income/(Loss) before income taxes 7,077 426 7,503 Income/(Loss) before income taxes 33,019 1,068 34,087 Capital expenditures 1,204 - 1,204 Capital expenditures 1,879 - 1,879 Retail Credit Total Total assets as of August 3, 2019 $ 610,282 $ 47,084 $ 657,366 Total assets as of February 2, 2019 454,143 43,763 497,906 The Company evaluates segment performance based on income before taxes. The Company does not allocate certain corporate expenses or income taxes to the credit segment. The following schedule summarizes the direct expenses of the credit segment, which are reflected in Selling, general and administrative expenses (in thousands): Three Months Ended Six Months Ended August 3, 2019 August 4, 2018 August 3, 2019 August 4, 2018 Payroll $ 164 $ 195 $ 314 $ 392 Postage 117 128 241 251 Other expenses 129 191 372 189 Total expenses $ 410 $ 514 $ 927 $ 832 |
Stock Based Compensation - Note
Stock Based Compensation - Notes to Financial Statements | 6 Months Ended |
Aug. 03, 2019 | |
Disclosure Of Compensation Related Costs Sharebased Payments Abstract | |
Stock Based Compensation | NOTE 6 – STOCK-BASED COMPENSATION: As of August 3, 2019, the Company had two long-term compensation plans pursuant to which stock-based compensation was outstanding or could be granted. The 2018 Incentive Compensation Plan and 2013 Incentive Compensation Plan are for the granting of various forms of equity-based awards, including restricted stock and stock options for grant, to officers, directors and key employees. Effective May 24, 2018, shares for grant were no longer available under the 2013 Incentive Compensation Plan. The following table presents the number of options and shares of restricted stock initially authorized and available for grant under each of the plans as of August 3, 2019: 2013 2018 Plan Plan Total Options and/or restricted stock initially authorized 1,500,000 4,725,000 6,225,000 Options and/or restricted stock available for grant: August 3, 2019 - 4,167,712 4,167,712 In accordance with ASC 718, the fair value of current restricted stock awards is estimated on the date of grant based on the market price of the Company’s stock and is amortized to compensation expense on a straight-line basis over the related vesting periods. As of August 3, 2019 and February 2, 2019, there was $ 14,622,000 and $ 11,989,000, respectively, of total unrecognized compensation expense related to nonvested restricted stock awards, which had a remaining weighted-average vesting period of 2.2 years and 2.2 years, respectively. The total compensation expense during the three and six months ended August 3, 2019 was $ 1,495,000 and $ 2,140,000, respectively, compared to $ 1,821,000 and $ 2,367,000, respectively, for the three and six months ended August 4, 2018. These expenses are classified as a component of Selling, general and administrative expenses in the Condensed Consolidated Statements of Income and Comprehensive Income. The following summary shows the changes in the shares of unvested restricted stock outstanding during the six months ended August 3, 2019: Weighted Average Number of Grant Date Fair Shares Value Per Share Restricted stock awards at February 2, 2019 771,851 $ 24.22 Granted 361,170 14.89 Vested ( 129,108) 34.44 Forfeited or expired ( 36,396) 19.77 Restricted stock awards at August 3, 2019 967,517 $ 19.54 The Company’s Employee Stock Purchase Plan allows eligible full-time employees to purchase a limited number of shares of the Company’s Class A Common Stock during each semi-annual offering period at a 15% discount through payroll deductions. During the six months ended August 3, 2019 and August 4, 2018, the Company sold 26,078 and 22,554 shares to employees at an average discount of $ 2.16 and $ 2.22 per share, respectively, under the Employee Stock Purchase Plan. The compensation expense recognized for the 15% discount given under the Employee Stock Purchase Plan was approximately $ 56,000 and $ 50,000 for the six months ended August 3, 2019 and August 4, 2018, respectively. These expenses are classified as a component of Selling, general and administrative expenses. |
Fair Value Measurements - Notes
Fair Value Measurements - Notes to Financial Statements | 6 Months Ended |
Aug. 03, 2019 | |
Fair Value Measurements [Abstract] | |
Fair Value Disclosures Text Block | NOTE 7 – FAIR VALUE MEASUREMENTS: The following tables set forth information regarding the Company’s financial assets and liabilities that are measured at fair value (in thousands) as of August 3, 2019 and February 2, 2019: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable August 3, 2019 Assets Inputs Inputs Description Level 1 Level 2 Level 3 Assets: State/Municipal Bonds $ 45,843 $ - $ 45,843 $ - Corporate Bonds 94,221 - 94,221 - U.S. Treasury/Agencies Notes and Bonds 43,420 - 43,420 - Cash Surrender Value of Life Insurance 10,111 - - 10,111 Asset-backed Securities (ABS) 25,500 - 25,500 - Corporate Equities 718 718 - - Certificates of Deposit 101 101 - - Total Assets $ 219,914 $ 819 $ 208,984 $ 10,111 Liabilities: Deferred Compensation ( 10,182) - - ( 10,182) Total Liabilities $ ( 10,182) $ - $ - $ ( 10,182) Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable February 2, 2019 Assets Inputs Inputs Description Level 1 Level 2 Level 3 Assets: State/Municipal Bonds $ 54,346 $ - $ 54,346 $ - Corporate Bonds 90,891 - 90,891 - U.S. Treasury/Agencies Notes and Bonds 17,236 - 17,236 - Cash Surrender Value of Life Insurance 9,093 - - 9,093 Asset-backed Securities (ABS) 23,334 - 23,334 - Corporate Equities 690 690 - - Certificates of Deposit 101 101 - - Total Assets $ 195,691 $ 791 $ 185,807 $ 9,093 Liabilities: Deferred Compensation ( 8,908) - - ( 8,908) Total Liabilities $ ( 8,908) $ - $ - $ ( 8,908) The Company’s investment portfolio was primarily invested in corporate bonds and tax-exempt and taxable governmental debt securities held in managed accounts with underlying ratings of A or better at August 3, 2019 and February 2, 2019. The state, municipal and corporate bonds have contractual maturities which range from 2 days to 17.0 years. The U.S. Treasury Notes and Certificates of Deposit have contractual maturities which range from 28 days to 2.5 years. These securities are classified as available-for-sale and are recorded as Short-term investments, Restricted cash and Restricted short-term investments on the accompanying Condensed Consolidated Balance Sheets. These assets are carried at fair value with unrealized gains and losses reported net of taxes in Accumulated other comprehensive income. The asset-backed securities are bonds comprised of auto loans and bank credit cards that carry AAA ratings. The auto loan asset-backed securities are backed by static pools of auto loans that were originated and serviced by captive auto finance units, banks or finance companies. The bank credit card asset-backed securities are backed by revolving pools of credit card receivables generated by account holders of cards from American Express, Citibank, JPMorgan Chase, Capital One and Discover. Additionally, at August 3, 2019, the Company had $ 0.7 million of corporate equities and deferred compensation plan assets of $ 10.1 million. At February 2, 2019, the Company had $ 0.7 million of corporate equities and deferred compensation plan assets of $ 9.1 million. All of these assets are recorded within Other assets in the Condensed Consolidated Balance Sheets. Level 1 category securities are measured at fair value using quoted active market prices. Level 2 investment securities include corporate bonds, municipal bonds and asset-backed securities for which quoted prices may not be available on active exchanges for identical instruments. Their fair value is principally based on market values determined by management with assistance of a third-party pricing service. Since quoted prices in active markets for identical assets are not available, these prices are determined by the pricing service using observable market information such as quotes from less active markets and/or quoted prices of securities with similar characteristics, among other factors. Deferred compensation plan assets consist of life insurance policies. These life insurance policies are valued based on the cash surrender value of the insurance contract, which is determined based on such factors as the fair value of the underlying assets and discounted cash flow and are therefore classified within Level 3 of the valuation hierarchy. The Level 3 liability associated with the life insurance policies represents a deferred compensation obligation, the value of which is tracked via underlying insurance funds’ net asset values, as recorded in Other noncurrent liabilities in the Condensed Consolidated Balance Sheet. These funds are designed to mirror mutual funds and money market funds that are observable and actively traded. The following tables summarize the change in fair value of the Company’s financial assets and liabilities measured using Level 3 inputs as of August 3, 2019 and February 2, 2019 (in thousands): Fair Value Measurements Using Significant Unobservable Asset Inputs (Level 3) Cash Surrender Value Beginning Balance at February 2, 2019 $ 9,093 Additions 706 Total gains or (losses) Included in interest and other income (or changes in net assets) 312 Included in other comprehensive income - Ending Balance at August 3, 2019 $ 10,111 Fair Value Measurements Using Significant Unobservable Liability Inputs (Level 3) Deferred Compensation Beginning Balance at February 2, 2019 $ ( 8,908) Additions ( 827) Total (gains) or losses Included in interest and other income (or changes in net assets) ( 447) Included in other comprehensive income - Ending Balance at August 3, 2019 $ ( 10,182) Fair Value Measurements Using Significant Unobservable Asset Inputs (Level 3) Cash Surrender Value Beginning Balance at February 3, 2018 $ 8,900 Additions 596 Total gains or (losses) Included in interest and other income (or changes in net assets) ( 403) Included in other comprehensive income - Ending Balance at February 2, 2019 $ 9,093 Fair Value Measurements Using Significant Unobservable Liability Inputs (Level 3) Deferred Compensation Beginning Balance at February 3, 2018 $ ( 8,951) Additions ( 105) Total (gains) or losses Included in interest and other income (or changes in net assets) 148 Included in other comprehensive income - Ending Balance at February 2, 2019 $ ( 8,908) |
Recent Accounting Pronouncement
Recent Accounting Pronouncements - Notes to Financial Statements | 6 Months Ended |
Aug. 03, 2019 | |
Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements | In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326), which modifies the measurement of expected credit losses of certain financial instruments. Topic 326 is effective for annual reporting periods beginning after December 15, 2019 with early adoption permitted. The Company is currently assessing the impact of the ASU on its financial statements. |
Income Tax - Notes to the Finan
Income Tax - Notes to the Financial Statements | 6 Months Ended |
Aug. 03, 2019 | |
IncomeTaxDisclosureAbstract | |
Income Tax Disclosure [Text Block] | The Company had an effective tax rate for the first six months of 2019 of 16.3% compared to 12.3% for the first six months of 2018. The increase in the effective tax rate for the first six months was primarily due to more taxable interest income, more non-deductible IRS Section 162(m) compensation, and a release of reserves for uncertain tax positions due to state audit settlements in the first quarter of 2018. |
Income Taxes
Income Taxes | 6 Months Ended |
Aug. 03, 2019 | |
IncomeTaxDisclosureAbstract | |
Income Taxes | The Company had an effective tax rate for the first six months of 2019 of 16.3% compared to 12.3% for the first six months of 2018. The increase in the effective tax rate for the first six months was primarily due to more taxable interest income, more non-deductible IRS Section 162(m) compensation, and a release of reserves for uncertain tax positions due to state audit settlements in the first quarter of 2018. |
Commitments and Contingencies -
Commitments and Contingencies - Notes to the Financial Statements | 6 Months Ended |
Aug. 03, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | The Company is, from time to time, involved in routine litigation incidental to the conduct of its business, including litigation regarding the merchandise that it sells, litigation regarding intellectual property, litigation instituted by persons injured upon premises under its control, litigation with respect to various employment matters, including alleged discrimination and wage and hour litigation, and litigation with present or former employees. Although such litigation is routine and incidental to the conduct of the Company’s business, as with any business of its size with a significant number of employees and significant merchandise sales, such litigation could result in large monetary awards. Based on information currently available, management does not believe that any reasonably possible losses arising from current pending litigation will have a material adverse effect on the Company’s condensed consolidated financial statements. However, given the inherent uncertainties involved in such matters, an adverse outcome in one or more such matters could materially and adversely affect the Company’s financial condition, results of operations and cash flows in any particular reporting period. The Company accrues for these matters when the liability is deemed probable and reasonably estimable. |
Revenue Recognition Footnote
Revenue Recognition Footnote | 6 Months Ended |
Aug. 03, 2019 | |
RevenueRecognitionAndDeferredRevenueAbstract | |
Rvenue Recognition | NOTE 11 – REVENUE RECOGNITION: The Company recognizes sales at the point of purchase when the customer takes possession of the merchandise and pays for the purchase, generally with cash or credit. Sales from purchases made with Cato credit, gift cards and layaway sales from stores are also recorded when the customer takes possession of the merchandise. E-commerce sales are recorded when the risk of loss is transferred to the customer. Gift cards are recorded as deferred revenue until they are redeemed or forfeited. Layaway sales are recorded as deferred revenue until the customer takes possession or forfeits the merchandise. Gift cards do not have expiration dates. A provision is made for estimated merchandise returns based on sales volumes and the Company’s experience; actual returns have not varied materially from historical amounts. A provision is made for estimated write-offs associated with sales made with the Company’s proprietary credit card. Amounts related to shipping and handling billed to customers in a sales transaction are classified as Other revenue and the costs related to shipping product to customers (billed and accrued) are classified as Cost of goods sold. The Company offers its own proprietary credit card to customers. All credit activity is performed by the Company’s wholly-owned subsidiaries. None of the credit card receivables are secured. The Company estimated uncollectible amounts of $, 455000 and $, 458000 for the six months ended August 3, 2019 and August 4, 2018, respectively, on sales purchased on the Company’s proprietary credit card of $. 138 141 The following table provides information about receivables and contract liabilities from contracts with customers (in thousands): Balance as of August 3, 2019 February 2, 2019 Proprietary Credit Card Receivables, net $ 15,657 $ 15,980 Gift Card Liability $ 5,427 $ 7,721 |
Leases - Notes to the Financial
Leases - Notes to the Financial Statements | 6 Months Ended |
Aug. 03, 2019 | |
Leases [Abstract] | |
Operating Lease Dislcosure Leasee [Text Block] | NOTE 12 – LEASES: The Company determines whether an arrangement is a lease at inception. The Company has operating leases for stores, offices and equipment. Its leases have remaining lease terms of one year to 10 years, some of which include options to extend the lease term for up to five years, and some of which include options to terminate the lease within one year. The Company considers these options in determining the lease term used to establish its right-of-use assets and lease liabilities. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. As most of the Company’s leases do not provide an implicit rate, it uses its estimated incremental borrowing rate based on the information available at commencement date of the lease in determining the present value of lease payments. The components of lease cost are shown below (in thousands): Three Months Ended Six Months Ended August 3, 2019 August 3, 2019 Operating lease cost (a) $ 16,665 $ 26,397 Variable lease cost (b) $ 508 $ 1,114 ASC 840 prepaid rent expense (c) $ 37 $ 6,012 (a) Includes right-of-use asset amortization of ($1) million and ($3) million for the three months and six months end August 3, 2019, respectively. (b) Primarily related to monthly percentage rent for stores not presented on the balance sheet. (c) Related to ASC 840 rent expense due to prepaid rent on the balance sheet as of February 3, 2019. Supplemental cash flow information and non-cash activity related to the Company’s operating leases are as follows (in thousands): Operating cash flow information: Six Months Ended August 3, 2019 Cash paid for amounts included in the measurement of lease liabilities $ 25,418 Non-cash activity: Right-of-use assets obtained in exchange for lease obligations $ 602 Weighted-average remaining lease term and discount rate for the Company’s operating leases are as follows: As of August 3, 2019 Weighted-average remaining lease term 2.6 years Weighted-average discount rate 4.65% Maturities of lease liabilities by fiscal year for the Company’s operating leases are as follows (in thousands): Fiscal Year 2019 (a) $ 29,342 2020 57,071 2021 42,659 2022 27,421 2023 19,096 Thereafter 18,024 Total lease payments 193,613 Less: Imputed interest 17,549 Present value of lease liabilities $ 176,064 (a) Excluding the 6 months ended August 3, 2019. As of February 2, 2019, the minimum rental commitments under non-cancelable operating leases are (in thousands): Fiscal Year 2019 $ 69,601 2020 51,943 2021 35,196 2022 21,242 2023 12,986 Thereafter 2,643 Total minimum lease payments $ 193,611 A summary of rent expense for the fiscal years ended February 2, 2019 and February 3, 2018 was as follows (in thousands): Balance as of February 2, 2019 February 3, 2018 Rent Expense $ 69,872 $ 70,971 |
Earnings Per Share - (Tables)
Earnings Per Share - (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Earnings Per Share Disclosure [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Six Months Ended August 3, 2019 August 4, 2018 August 3, 2019 August 4, 2018 (Dollars in thousands) Numerator Net earnings $ 11,866 $ 6,482 $ 33,122 $ 29,892 (Earnings)/loss allocated to non-vested equity awards ( 451) ( 192) ( 1,148) ( 816) Net earnings available to common stockholders $ 11,415 $ 6,290 $ 31,974 $ 29,076 Denominator Basic weighted average common shares outstanding 23,789,070 24,131,481 23,772,883 24,166,539 Diluted weighted average common shares outstanding 23,789,070 24,131,481 23,772,883 24,166,539 Net income per common share Basic earnings per share $ 0.48 $ 0.26 $ 1.34 $ 1.20 Diluted earnings per share $ 0.48 $ 0.26 $ 1.34 $ 1.20 |
Changes in Accumulated Other Co
Changes in Accumulated Other Comprehensive Income (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
AccumulatedOtherComprehensiveIncomeLossDisclosure[Abstract] | |
Schedule Of Accumulated Other Comprehensive Income Loss Table Text Block | NOTE 3 – ACCUMULATED OTHER COMPREHENSIVE INCOME: The following table sets forth information regarding the reclassification out of Accumulated other comprehensive income (in thousands) for the three months ended August 3, 2019: Changes in Accumulated Other Comprehensive Income (a) Unrealized Gains and (Losses) on Available-for-Sale Securities Beginning Balance at May 4, 2019 $ 335 Other comprehensive income before reclassification 829 Amounts reclassified from accumulated other comprehensive income (b) 30 Net current-period other comprehensive income 859 Ending Balance at August 3, 2019 $ 1,194 (a) All amounts are net-of-tax. Amounts in parentheses indicate a debit/reduction to other comprehensive income. (b) Includes $ 39 impact of accumulated other comprehensive income reclassifications into Interest and other income for net gains on available-for-sale securities. The tax impact of this reclassification was $ 9. The following table sets forth information regarding the reclassification out of Accumulated other comprehensive income (in thousands) for the six months ended August 3, 2019: Changes in Accumulated Other Comprehensive Income (a) Unrealized Gains and (Losses) on Available-for-Sale Securities Beginning Balance at February 2, 2019 $ ( 77) Other comprehensive income before reclassification 1,232 Amounts reclassified from accumulated other comprehensive income (b) 39 Net current-period other comprehensive income 1,271 Ending Balance at August 3, 2019 $ 1,194 (a) All amounts are net-of-tax. Amounts in parentheses indicate a debit/reduction to other comprehensive income. (b) Includes $ 51 impact of accumulated other comprehensive income reclassifications into Interest and other income for net gains on available-for-sale securities. The tax impact of this reclassification was $ 12. NOTE 3 – ACCUMULATED OTHER COMPREHENSIVE INCOME (CONTINUED): The following table sets forth information regarding the reclassification out of Accumulated other comprehensive income (in thousands) for the three months ended August 4, 2018: Changes in Accumulated Other Comprehensive Income (a) Unrealized Gains and (Losses) on Available-for-Sale Securities Beginning Balance at May 5, 2018 $ ( 713) Other comprehensive income before reclassifications 260 Amounts reclassified from accumulated other comprehensive income (b) 54 Net current-period other comprehensive income 314 Ending Balance at August 4, 2018 $ ( 399) (a) All amounts are net-of-tax. Amounts in parentheses indicate a debit/reduction to other comprehensive income. (b) Includes $ 71 impact of Accumulated other comprehensive income reclassifications into Interest and other income for net gains on available-for-sale securities. The tax impact of this reclassification was $ 17. The following table sets forth information regarding the reclassification out of Accumulated other comprehensive income (in thousands) for the six months ended August 4, 2018: Changes in Accumulated Other Comprehensive Income (a) Unrealized Gains and (Losses) on Available-for-Sale Securities Beginning Balance at February 3, 2018 $ ( 321) Other comprehensive income before reclassifications ( 131) Amounts reclassified from accumulated other comprehensive income (b) 53 Net current-period other comprehensive income ( 78) Ending Balance at August 4, 2018 $ ( 399) (a) All amounts are net-of-tax. Amounts in parentheses indicate a debit/reduction to other comprehensive income. (b) Includes $ 70 impact of Accumulated other comprehensive income reclassifications into Interest and other income for net gains on available-for-sale securities. The tax impact of this reclassification was $ 17. |
Reportable Segment Informatio_2
Reportable Segment Information - (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Reportable Segment Information [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended Six Months Ended August 3, 2019 Retail Credit Total August 3, 2019 Retail Credit Total Revenues $ 211,672 $ 909 $ 212,581 Revenues $ 441,114 $ 1,819 $ 442,933 Depreciation 3,836 - 3,836 Depreciation 7,679 - 7,679 Interest and other income ( 1,693) - ( 1,693) Interest and other income ( 2,829) - ( 2,829) Income/(Loss) before income taxes 13,501 499 14,000 Income/(Loss) before income taxes 38,680 892 39,572 Capital expenditures 1,222 - 1,222 Capital expenditures 2,217 - 2,217 Three Months Ended Six Months Ended August 4, 2018 Retail Credit Total August 4, 2018 Retail Credit Total Revenues $ 207,971 $ 946 $ 208,917 Revenues $ 445,305 $ 1,912 $ 447,217 Depreciation 4,146 6 4,152 Depreciation 8,364 12 8,376 Interest and other income ( 1,431) - ( 1,431) Interest and other income ( 2,185) - ( 2,185) Income/(Loss) before income taxes 7,077 426 7,503 Income/(Loss) before income taxes 33,019 1,068 34,087 Capital expenditures 1,204 - 1,204 Capital expenditures 1,879 - 1,879 Retail Credit Total Total assets as of August 3, 2019 $ 610,282 $ 47,084 $ 657,366 Total assets as of February 2, 2019 454,143 43,763 497,906 Three Months Ended Six Months Ended August 3, 2019 August 4, 2018 August 3, 2019 August 4, 2018 Payroll $ 164 $ 195 $ 314 $ 392 Postage 117 128 241 251 Other expenses 129 191 372 189 Total expenses $ 410 $ 514 $ 927 $ 832 |
Sechedule Of Restricted Stock O
Sechedule Of Restricted Stock Outstanding - (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Disclosure Of Compensation Related Costs Sharebased Payments Abstract | |
Schedule Of Changes In Restricted Stock Outstanding | 2013 2018 Plan Plan Total Options and/or restricted stock initially authorized 1,500,000 4,725,000 6,225,000 Options and/or restricted stock available for grant: August 3, 2019 - 4,167,712 4,167,712 |
Stock Option Changes - (Tables)
Stock Option Changes - (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Disclosure Of Compensation Related Costs Sharebased Payments Abstract | |
Schedule of Stock Options Outstanding | Weighted Average Number of Grant Date Fair Shares Value Per Share Restricted stock awards at February 2, 2019 771,851 $ 24.22 Granted 361,170 14.89 Vested ( 129,108) 34.44 Forfeited or expired ( 36,396) 19.77 Restricted stock awards at August 3, 2019 967,517 $ 19.54 |
Fair Value Measurements - Asset
Fair Value Measurements - Assets at Fairvalue - (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Fair Value Measurements [Abstract] | |
Fair Value Disclosures | Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable August 3, 2019 Assets Inputs Inputs Description Level 1 Level 2 Level 3 Assets: State/Municipal Bonds $ 45,843 $ - $ 45,843 $ - Corporate Bonds 94,221 - 94,221 - U.S. Treasury/Agencies Notes and Bonds 43,420 - 43,420 - Cash Surrender Value of Life Insurance 10,111 - - 10,111 Asset-backed Securities (ABS) 25,500 - 25,500 - Corporate Equities 718 718 - - Certificates of Deposit 101 101 - - Total Assets $ 219,914 $ 819 $ 208,984 $ 10,111 Liabilities: Deferred Compensation ( 10,182) - - ( 10,182) Total Liabilities $ ( 10,182) $ - $ - $ ( 10,182) Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable February 2, 2019 Assets Inputs Inputs Description Level 1 Level 2 Level 3 Assets: State/Municipal Bonds $ 54,346 $ - $ 54,346 $ - Corporate Bonds 90,891 - 90,891 - U.S. Treasury/Agencies Notes and Bonds 17,236 - 17,236 - Cash Surrender Value of Life Insurance 9,093 - - 9,093 Asset-backed Securities (ABS) 23,334 - 23,334 - Corporate Equities 690 690 - - Certificates of Deposit 101 101 - - Total Assets $ 195,691 $ 791 $ 185,807 $ 9,093 Liabilities: Deferred Compensation ( 8,908) - - ( 8,908) Total Liabilities $ ( 8,908) $ - $ - $ ( 8,908) |
Fair Value Measurments - Level
Fair Value Measurments - Level 3 Roll (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Fair Value Measurements [Abstract] | |
Level 3 Reconciliation | Fair Value Measurements Using Significant Unobservable Asset Inputs (Level 3) Cash Surrender Value Beginning Balance at February 2, 2019 $ 9,093 Additions 706 Total gains or (losses) Included in interest and other income (or changes in net assets) 312 Included in other comprehensive income - Ending Balance at August 3, 2019 $ 10,111 Fair Value Measurements Using Significant Unobservable Liability Inputs (Level 3) Deferred Compensation Beginning Balance at February 2, 2019 $ ( 8,908) Additions ( 827) Total (gains) or losses Included in interest and other income (or changes in net assets) ( 447) Included in other comprehensive income - Ending Balance at August 3, 2019 $ ( 10,182) Fair Value Measurements Using Significant Unobservable Asset Inputs (Level 3) Cash Surrender Value Beginning Balance at February 3, 2018 $ 8,900 Additions 596 Total gains or (losses) Included in interest and other income (or changes in net assets) ( 403) Included in other comprehensive income - Ending Balance at February 2, 2019 $ 9,093 Fair Value Measurements Using Significant Unobservable Liability Inputs (Level 3) Deferred Compensation Beginning Balance at February 3, 2018 $ ( 8,951) Additions ( 105) Total (gains) or losses Included in interest and other income (or changes in net assets) 148 Included in other comprehensive income - Ending Balance at February 2, 2019 $ ( 8,908) |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
RevenueRecognitionAndDeferredRevenueAbstract | |
ContractWithCustomerAssetAndLiabilityTableTextBlock | Balance as of August 3, 2019 February 2, 2019 Proprietary Credit Card Receivables, net $ 15,657 $ 15,980 Gift Card Liability $ 5,427 $ 7,721 |
Leases - (Tables)
Leases - (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Leases [Abstract] | |
Lease, Cost [Table Text Block] | Three Months Ended Six Months Ended August 3, 2019 August 3, 2019 Operating lease cost (a) $ 16,665 $ 26,397 Variable lease cost (b) $ 508 $ 1,114 ASC 840 prepaid rent expense (c) $ 37 $ 6,012 (a) Includes right-of-use asset amortization of ($1) million and ($3) million for the three months and six months end August 3, 2019, respectively. (b) Primarily related to monthly percentage rent for stores not presented on the balance sheet. (c) Related to ASC 840 rent expense due to prepaid rent on the balance sheet as of February 3, 2019. |
Lessee Operating Leases Supplemental Cash Flow Information and Noncash Activity Table [Table Text Block] | Operating cash flow information: Six Months Ended August 3, 2019 Cash paid for amounts included in the measurement of lease liabilities $ 25,418 Non-cash activity: Right-of-use assets obtained in exchange for lease obligations $ 602 |
Lessee Operating Lease Weighted Averages Table [Table Text Block] showing weighted average remaining lease term and weighted average discount rate | As of August 3, 2019 Weighted-average remaining lease term 2.6 years Weighted-average discount rate 4.65% |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Fiscal Year 2019 (a) $ 29,342 2020 57,071 2021 42,659 2022 27,421 2023 19,096 Thereafter 18,024 Total lease payments 193,613 Less: Imputed interest 17,549 Present value of lease liabilities $ 176,064 (a) Excluding the 6 months ended August 3, 2019. |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Fiscal Year 2019 $ 69,601 2020 51,943 2021 35,196 2022 21,242 2023 12,986 Thereafter 2,643 Total minimum lease payments $ 193,611 |
Schedule of Rent Expense [Table Text Block] | Balance as of February 2, 2019 February 3, 2018 Rent Expense $ 69,872 $ 70,971 |
General - Notes to Financial _2
General - Notes to Financial Statements - (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Aug. 03, 2019 | May 04, 2019 | Aug. 04, 2018 | May 05, 2018 | Aug. 03, 2019 | Aug. 04, 2018 | |
General Dsiclosure [Abstract] | ||||||
Quarterly Declared Dividend | $ 0.33 | $ 0.33 | $ 0.33 | $ 0.33 | ||
Special Dividend | $ 0.33 | |||||
Repurchase of common stock | $ 2,834 | $ 10,461 | ||||
Net income | $ 11,866 | $ 21,256 | $ 6,482 | $ 23,410 | 33,122 | 29,892 |
Dividends paid | $ 16,291 | $ 16,338 | ||||
Increase of Assets and Liabilities - Leases | 40.00% | 40.00% |
Earnings Per Share - (Details)
Earnings Per Share - (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Aug. 03, 2019 | May 04, 2019 | Aug. 04, 2018 | May 05, 2018 | Aug. 03, 2019 | Aug. 04, 2018 | |
Earnings Per Share Disclosure [Abstract] | ||||||
Net income | $ 11,866 | $ 21,256 | $ 6,482 | $ 23,410 | $ 33,122 | $ 29,892 |
Earnings Allocated to Non-Vesting Equity Awards | (451) | (192) | (1,148) | (816) | ||
Net Income (Loss) Available to Common Stockholders | $ 11,415 | $ 6,290 | $ 31,974 | $ 29,076 | ||
Basic Weighted-Average common shares outstanding | 23,789,070 | 24,131,481 | 23,772,883 | 24,166,539 | ||
Dilluted Weighted Average Common Shares Outstanding | 23,789,070 | 24,131,481 | 23,772,883 | 24,166,539 | ||
Basic earnings per share | $ 0.48 | $ 0.26 | $ 1.34 | $ 1.20 | ||
Diluted earnings per share | $ 0.48 | $ 0.26 | $ 1.34 | $ 1.20 |
Changes in Accumulated Other _2
Changes in Accumulated Other Comprehensive Income (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Aug. 03, 2019 | May 04, 2019 | Aug. 04, 2018 | May 05, 2018 | Aug. 03, 2019 | Aug. 04, 2018 | |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Beginning Balance Accumulated other comprehensive income, net of tax | $ (77,000) | $ (77,000) | ||||
Unrealized gain on available-for-sale securities, net of deferred income taxes | $ 859,000 | 412,000 | $ 314,000 | $ (392,000) | 1,271,000 | $ (78,000) |
Ending Balance Accumulated other comprehensive income, net of tax | 1,194,000 | 1,194,000 | ||||
ChangeInUnrealizedGainsOnAvailableForSaleSecuritiesMember [Member] | ||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||
Beginning Balance Accumulated other comprehensive income, net of tax | 335,000 | (77,000) | (713,000) | (321,000) | (77,000) | (321,000) |
Other Comprehensive Income Loss Before Reclassifications Net Of Tax | 829,000 | 260,000 | 1,232,000 | (131,000) | ||
Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax | 30,000 | 54,000 | 39,000 | 53,000 | ||
Unrealized gain on available-for-sale securities, net of deferred income taxes | 859,000 | 314,000 | 1,271,000 | (78,000) | ||
Ending Balance Accumulated other comprehensive income, net of tax | $ 1,194,000 | $ 335,000 | $ (399,000) | $ (713,000) | $ 1,194,000 | $ (399,000) |
Changes in Accumulated Other _3
Changes in Accumulated Other Comprehensive Income Components - (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Aug. 03, 2019 | Aug. 04, 2018 | Aug. 03, 2019 | Aug. 04, 2018 | |
ReclassificationAdjustmentOutOfAccumulatedOtherComprehensiveIncomeLineItems | ||||
Income Tax Benefit (Expense) | $ 2,134,000 | $ 1,021,000 | $ 6,450,000 | $ 4,195,000 |
Reclassified Accumulated Unrealized Gains and Losses | ||||
ReclassificationAdjustmentOutOfAccumulatedOtherComprehensiveIncomeLineItems | ||||
Interest and Other Income | 39,000 | 71,000 | 51,000 | 70,000 |
Income Tax Benefit (Expense) | $ 9,000 | $ 17,000 | $ 12,000 | $ 17,000 |
Financing Arrangements - (Detai
Financing Arrangements - (Details) | Aug. 03, 2019USD ($) |
RevolvingCreditFacilityMember [Member] | |
Line of Credit Facility [Line Items] | |
Line of Credit Facility, Maximum Borrowing Capacity | $ 35,000,000 |
Reportable Segment Informatio_3
Reportable Segment Information - (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Aug. 03, 2019 | Aug. 04, 2018 | Aug. 03, 2019 | Aug. 04, 2018 | Feb. 02, 2019 | |
Segment Reporting Information [Line Items] | |||||
Total revenues | $ 212,581,000 | $ 208,917,000 | $ 442,933,000 | $ 447,217,000 | |
Depreciation | 3,836,000 | 4,152,000 | 7,679,000 | 8,376,000 | |
Interest and other income | 1,693,000 | 1,431,000 | 2,829,000 | 2,185,000 | |
Total Assets | 657,366,000 | 657,366,000 | $ 497,906,000 | ||
Capital expenditures | 1,222,000 | 1,204,000 | 2,217,000 | 1,879,000 | |
Income Before Taxes | 14,000,000 | 7,503,000 | 39,572,000 | 34,087,000 | |
ReportableSegmentsMemberRetail [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues | 211,672,000 | 207,971,000 | 441,114,000 | 445,305,000 | |
Depreciation | 3,836,000 | 4,146,000 | 7,679,000 | 8,364,000 | |
Interest and other income | 1,693,000 | 1,431,000 | 2,829,000 | 2,185,000 | |
Total Assets | 610,282,000 | 610,282,000 | 454,143,000 | ||
Capital expenditures | 1,222,000 | 1,204,000 | 2,217,000 | 1,879,000 | |
Income Before Taxes | 13,501,000 | 7,077,000 | 38,680,000 | 33,019,000 | |
ReportableSegmentsMemberCredit [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total revenues | 909,000 | 946,000 | 1,819,000 | 1,912,000 | |
Depreciation | 0 | 6,000 | 0 | 12,000 | |
Interest and other income | 0 | 0 | 0 | 0 | |
Total Assets | 47,084,000 | 47,084,000 | $ 43,763,000 | ||
Capital expenditures | 0 | 0 | 0 | 0 | |
Income Before Taxes | $ 499,000 | $ 426,000 | $ 892,000 | $ 1,068,000 |
Direct Expenses of Credit Segme
Direct Expenses of Credit Segment in SGA - (Details) - ReportableSegmentsMemberCredit [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Aug. 03, 2019 | Aug. 04, 2018 | Aug. 03, 2019 | Aug. 04, 2018 | |
Segment Reporting Information [Line Items] | ||||
Labor and Related Expense | $ 164 | $ 195 | $ 314 | $ 392 |
Postage Expense | 117 | 128 | 241 | 251 |
Other Expenses | 129 | 191 | 372 | 189 |
Total Credit Expenses | $ 410 | $ 514 | $ 927 | $ 832 |
Stock Based Compensation - Plan
Stock Based Compensation - Plans - (Details) | Aug. 03, 2019shares |
Authorized And Available For Grant [Line Items] | |
Options And/Or Restrcited Stock Initially Authorized | 6,225,000 |
Options And Or Restricted Stock Available For Grant | 4,167,712 |
2013 Plan | |
Authorized And Available For Grant [Line Items] | |
Options And/Or Restrcited Stock Initially Authorized | 1,500,000 |
Options And Or Restricted Stock Available For Grant | 0 |
2018 Plan | |
Authorized And Available For Grant [Line Items] | |
Options And/Or Restrcited Stock Initially Authorized | 4,725,000 |
Options And Or Restricted Stock Available For Grant | 4,167,712 |
Sechedule Of Restricted Stock_2
Sechedule Of Restricted Stock Outstanding - (Details) - 2004 Plan - Restricted Stock - Class A Common Stock | 6 Months Ended |
Aug. 03, 2019$ / sharesshares | |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested [Roll Forward] | |
Restricted Stock Awards Beginning Balance | shares | 771,851 |
Restricted Stock Awards Granted | shares | 361,170 |
Restricted Stock Awards Vested | shares | (129,108) |
Restricted Stock Awards Foreited | shares | (36,396) |
Restricted Stock Awards Ending Balance | shares | 967,517 |
Share Based Compensation Arrangement By Share Based Payment Award Equity InstrumentsOtherThan Options Nonvested Weighted Average Grant Date Fair Value | |
Restricted Stock Awards Weighted Average Grant Date Fair Value Per Share - Beginning Balance | $ / shares | $ 24.22 |
Granted Restricted Stock Awards Weighted Average Grant Date Fair Value Per Share | $ / shares | 14.89 |
Vested Restricted Stock Awards Weighted Average Grant Date Fair Value Per Share | $ / shares | 34.44 |
Forfeited Restricted Stock Awards Weighted Average Grant Date Fair Value Per Share | $ / shares | 19.77 |
Restricted Stock Awards Weighted Average Grant Date Fair Value Per Share - Ending Balance | $ / shares | $ 19.54 |
Stock Based Compensation Additi
Stock Based Compensation Additional - (Details) - Class A Common Stock - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Aug. 03, 2019 | Aug. 04, 2018 | Aug. 03, 2019 | Aug. 04, 2018 | Feb. 02, 2019 | |
Restricted Stock | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Unrecognized Compensation Expense | $ 14,622,000 | $ 14,622,000 | $ 11,989,000 | ||
Remaining Weighted-Average Vesting Period | 2 years 2 months 12 days | 2 years 2 months 12 days | |||
Compensation Expense | $ 1,495,000 | $ 1,821,000 | $ 2,140,000 | $ 2,367,000 | |
Employee Stock Purchase Plan | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Shares Sold | 26,078 | 22,554 | |||
Compensation Expense | $ 56,000 | $ 50,000 | |||
Employee Stock Purchase Plan Share Purchase Discount | $ 2.16 | $ 2.22 | $ 2.16 | $ 2.22 |
Weighted Average Option Rollfor
Weighted Average Option Rollforward - (Details) - shares | 3 Months Ended | |||
Aug. 03, 2019 | May 04, 2019 | Aug. 04, 2018 | May 05, 2018 | |
shareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward | ||||
Exercised | 0 | 0 | 8,051 | 0 |
Fair Value Measurements - Ass_2
Fair Value Measurements - Assets at Fairvalue - (Details) - USD ($) | Aug. 03, 2019 | Feb. 02, 2019 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Financial Assets At Fair Value | $ 219,914,000 | $ 195,691,000 |
Deferred Compensation | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Liabilities, Fair Value Disclosure | (10,182,000) | (8,908,000) |
Total Financial Liabilities At Fair Value | (10,182,000) | (8,908,000) |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Financial Assets At Fair Value | 819,000 | 791,000 |
Level 1 | Deferred Compensation | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Liabilities, Fair Value Disclosure | 0 | 0 |
Total Financial Liabilities At Fair Value | 0 | 0 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Financial Assets At Fair Value | 208,984,000 | 185,807,000 |
Level 2 | Deferred Compensation | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Liabilities, Fair Value Disclosure | 0 | 0 |
Total Financial Liabilities At Fair Value | 0 | 0 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total Financial Assets At Fair Value | 10,111,000 | 9,093,000 |
Level 3 | Deferred Compensation | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Other Liabilities, Fair Value Disclosure | (10,182,000) | (8,908,000) |
Total Financial Liabilities At Fair Value | (10,182,000) | (8,908,000) |
State/Municipal Bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | $ 45,843,000 | 54,346,000 |
State/Municipal Bonds | Minimum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale, Term | 2 days | |
State/Municipal Bonds | Maximum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale, Term | 17 years | |
State/Municipal Bonds | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | $ 0 | 0 |
State/Municipal Bonds | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 45,843,000 | 54,346,000 |
State/Municipal Bonds | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 0 | 0 |
Corporate Bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 94,221,000 | 90,891,000 |
Corporate Bonds | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 0 | 0 |
Corporate Bonds | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 94,221,000 | 90,891,000 |
Corporate Bonds | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 0 | 0 |
US Treasury Notes | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | $ 43,420,000 | 17,236,000 |
US Treasury Notes | Minimum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale, Term | 28 days | |
US Treasury Notes | Maximum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale, Term | 2 years 6 months | |
US Treasury Notes | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | $ 0 | 0 |
US Treasury Notes | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 43,420,000 | 17,236,000 |
US Treasury Notes | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 0 | 0 |
Corporate Equities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 718,000 | 690,000 |
Corporate Equities | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 718,000 | 690,000 |
Corporate Equities | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 0 | 0 |
Corporate Equities | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 0 | 0 |
Certificates of Deposit | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 101,000 | 101,000 |
Certificates of Deposit | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 101,000 | 101,000 |
Certificates of Deposit | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 0 | 0 |
Certificates of Deposit | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 0 | 0 |
Asset Backed Securities (ABS) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 25,500,000 | 23,334,000 |
Asset Backed Securities (ABS) | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 0 | 0 |
Asset Backed Securities (ABS) | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 25,500,000 | 23,334,000 |
Asset Backed Securities (ABS) | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale Securities | 0 | 0 |
Cash Surrender Value - Life Insurance | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Surrender Value, Fair Value Disclosure | 10,111,000 | 9,093,000 |
Cash Surrender Value - Life Insurance | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Surrender Value, Fair Value Disclosure | 0 | 0 |
Cash Surrender Value - Life Insurance | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Surrender Value, Fair Value Disclosure | 0 | 0 |
Cash Surrender Value - Life Insurance | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash Surrender Value, Fair Value Disclosure | $ 10,111,000 | $ 9,093,000 |
Fair Value Measurements - Level
Fair Value Measurements - Level 3 Roll - (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Aug. 03, 2019 | Feb. 02, 2019 | |
Deferred Compensation | ||
FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems | ||
Begining Balance | $ (8,908) | $ (8,951) |
Redemptions | (827) | (105) |
Additions | (447) | 148 |
Losses (Gains) Included In Earnings | 0 | 0 |
Ending Balance | (10,182) | (8,908) |
Cash Surrender Value - Life Insurance | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Beginning Balance | 9,093 | 8,900 |
Additions | 706 | 596 |
Gains (Losses) Included in Earnings | 312 | (403) |
Gains (Losses) Included in Other Comprehensive Income | 0 | 0 |
Ending Balance | $ 10,111 | $ 9,093 |
Income Tax (Details)
Income Tax (Details) | 6 Months Ended | |
Aug. 03, 2019 | Aug. 04, 2018 | |
IncomeTaxDisclosureAbstract | ||
Effective Income Tax Rate | 16.30% | 12.30% |
Effective Tax Rate (Details)
Effective Tax Rate (Details) | 6 Months Ended | |
Aug. 03, 2019 | Aug. 04, 2018 | |
EffectiveIncomeTaxRateContinuingOperationsTaxRateReconciliationAbstract | ||
Effective Income Tax Rate | 16.30% | 12.30% |
Revenue Recognition Disclosure
Revenue Recognition Disclosure Table - (Details) - USD ($) | Aug. 03, 2019 | Feb. 02, 2019 |
RevenueRecognitionAndDeferredRevenueAbstract | ||
Proprietary Credit Card Receivables Net | $ 15,657,000 | $ 15,980,000 |
Gift Card Liability | $ 5,427,000 | $ 7,721,000 |
Revenue Recognition Cato Credit
Revenue Recognition Cato Credit Card - (Details) - USD ($) | 6 Months Ended | |
Aug. 03, 2019 | Aug. 04, 2018 | |
RevenueRecognitionAndDeferredRevenueAbstract | ||
Proprietary Credit Card Uncollectable amounts | $ 455,000 | $ 458,000 |
Proprietary Credit Card Sales | $ 13,800,000 | $ 14,100,000 |
Leases - (Details)
Leases - (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |
Aug. 03, 2019 | Aug. 03, 2019 | Feb. 02, 2019 | Feb. 03, 2018 | |
Leases [Abstract] | ||||
Operating Lease, Weighted Average Discount Rate, Percent | 4.65% | 4.65% | ||
Operating Lease, Expense | $ 16,665,000 | $ 26,397,000 | ||
Variable Lease, Cost | 508,000 | 1,114,000 | ||
ASC 840 prepaid rent expense | 37,000 | 6,012,000 | ||
Operating Lease, Payments | 25,418,000 | |||
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | 602,000 | |||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 29,342,000 | 29,342,000 | $ 69,601,000 | |
Operating Leases, Future Minimum Payments, Due in Two Years | 57,071,000 | 57,071,000 | 51,943,000 | |
Operating Leases, Future Minimum Payments, Due in Three Years | 42,659,000 | 42,659,000 | 35,196,000 | |
Operating Leases, Future Minimum Payments, Due in Four Years | 27,421,000 | 27,421,000 | 21,242,000 | |
Operating Leases, Future Minimum Payments, Due In Five Years | 19,096,000 | 19,096,000 | 12,986,000 | |
Operating Leases, Future Minimum Payments, Due Thereafter | 18,024,000 | 18,024,000 | 2,643,000 | |
Operating Leases, Future Minimum Payments Due | 193,613,000 | 193,613,000 | 193,611,000 | |
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | (17,549,000) | (17,549,000) | ||
Operating Lease, Liability | $ 176,064,000 | $ 176,064,000 | ||
Operating Leases, Rent Expense | $ 69,872,000 | $ 70,971,000 |