Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Aug. 04, 2018 | Sep. 07, 2018 | |
Document Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Aug. 4, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | BKE | |
Entity Registrant Name | BUCKLE INC | |
Entity Central Index Key | 885,245 | |
Current Fiscal Year End Date | --02-02 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 49,018,195 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands | Aug. 04, 2018 | Feb. 03, 2018 |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 168,949 | $ 165,086 |
Short-term investments | 51,600 | 50,833 |
Receivables | 12,105 | 8,588 |
Inventory | 127,899 | 118,007 |
Prepaid expenses and other assets | 18,855 | 18,070 |
Total current assets | 379,408 | 360,584 |
PROPERTY AND EQUIPMENT | 460,367 | 459,043 |
Less accumulated depreciation and amortization | (319,141) | (309,497) |
PROPERTY AND EQUIPMENT, Net | 141,226 | 149,546 |
LONG-TERM INVESTMENTS | 17,300 | 21,453 |
OTHER ASSETS | 7,158 | 6,533 |
Total assets | 545,092 | 538,116 |
CURRENT LIABILITIES: | ||
Accounts payable | 46,217 | 29,387 |
Accrued employee compensation | 11,852 | 22,307 |
Accrued store operating expenses | 21,289 | 15,646 |
Gift certificates redeemable | 14,103 | 18,202 |
Income taxes payable | 0 | 12,364 |
Total current liabilities | 93,461 | 97,906 |
DEFERRED COMPENSATION | 15,784 | 15,154 |
DEFERRED RENT LIABILITY | 31,740 | 33,808 |
Total liabilities | 140,985 | 146,868 |
COMMITMENTS | ||
STOCKHOLDERS’ EQUITY: | ||
Common stock, authorized 100,000,000 shares of $.01 par value; 49,018,195 and 48,816,170 shares issued and outstanding at August 4, 2018 and February 3, 2018, respectively | 490 | 488 |
Additional paid-in capital | 147,173 | 144,279 |
Retained earnings | 256,444 | 246,570 |
Accumulated other comprehensive loss | 0 | (89) |
Total stockholders’ equity | 404,107 | 391,248 |
Total liabilities and stockholders' equity | $ 545,092 | $ 538,116 |
CONDENSED CONSOLIDATED BALANCE3
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares | Aug. 04, 2018 | Feb. 03, 2018 |
Statement of Financial Position [Abstract] | ||
Common stock, authorized (shares) | 100,000,000 | 100,000,000 |
Common stock, par value (dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares issued (shares) | 49,018,195 | 48,816,170 |
Common stock, shares outstanding (shares) | 49,018,195 | 48,816,170 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Aug. 04, 2018 | Jul. 29, 2017 | Aug. 04, 2018 | Jul. 29, 2017 | |
Income Statement [Abstract] | ||||
SALES, Net of returns and allowances | $ 201,080 | $ 195,650 | $ 405,977 | $ 407,901 |
COST OF SALES (Including buying, distribution, and occupancy costs) | 122,149 | 121,511 | 247,355 | 252,045 |
Gross profit | 78,931 | 74,139 | 158,622 | 155,856 |
OPERATING EXPENSES: | ||||
Selling | 47,896 | 46,679 | 93,749 | 93,597 |
General and administrative | 10,874 | 10,045 | 21,452 | 19,806 |
Total selling, general and administrative expenses | 58,770 | 56,724 | 115,201 | 113,403 |
INCOME FROM OPERATIONS | 20,161 | 17,415 | 43,421 | 42,453 |
OTHER INCOME, Net | 972 | 899 | 2,459 | 1,834 |
INCOME BEFORE INCOME TAXES | 21,133 | 18,314 | 45,880 | 44,287 |
PROVISION FOR INCOME TAXES | 5,474 | 6,831 | 11,883 | 16,519 |
NET INCOME | $ 15,659 | $ 11,483 | $ 33,997 | $ 27,768 |
EARNINGS PER SHARE: | ||||
Basic (dollars per share) | $ 0.32 | $ 0.24 | $ 0.70 | $ 0.58 |
Diluted (dollars per share) | $ 0.32 | $ 0.24 | $ 0.70 | $ 0.57 |
Basic weighted average shares | 48,379 | 48,218 | 48,379 | 48,218 |
Diluted weighted average shares | 48,592 | 48,310 | 48,571 | 48,327 |
CONDENSED CONSOLIDATED STATEME5
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Aug. 04, 2018 | Jul. 29, 2017 | Aug. 04, 2018 | Jul. 29, 2017 | |
Statement of Comprehensive Income [Abstract] | ||||
NET INCOME | $ 15,659 | $ 11,483 | $ 33,997 | $ 27,768 |
OTHER COMPREHENSIVE INCOME, NET OF TAX: | ||||
Change in unrealized loss on investments, net of tax of $31, $2, $31, and $2, respectively | 89 | 3 | 89 | 3 |
Other comprehensive income | 89 | 3 | 89 | 3 |
COMPREHENSIVE INCOME | $ 15,748 | $ 11,486 | $ 34,086 | $ 27,771 |
CONDENSED CONSOLIDATED STATEME6
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Aug. 04, 2018 | Jul. 29, 2017 | Aug. 04, 2018 | Jul. 29, 2017 | |
Statement of Comprehensive Income [Abstract] | ||||
Change in unrealized loss on investments, tax | $ 31 | $ 2 | $ 31 | $ 2 |
CONDENSED CONSOLIDATED STATEME7
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands | Total | Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Loss |
BALANCE (shares) at Jan. 28, 2017 | 48,622,780 | ||||
BALANCE at Jan. 28, 2017 | $ 430,539 | $ 486 | $ 139,398 | $ 290,737 | $ (82) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
NET INCOME | 27,768 | 27,768 | |||
Dividends paid on common stock | (24,423) | (24,423) | |||
Issuance of non-vested stock, net of forfeitures (shares) | 221,920 | ||||
Issuance of non-vested stock, net of forfeitures | $ 2 | (2) | |||
Amortization of non-vested stock grants, net of forfeitures | 3,226 | 3,226 | |||
Change in unrealized loss on investments, net of tax | 3 | 3 | |||
BALANCE (shares) at Jul. 29, 2017 | 48,844,700 | ||||
BALANCE at Jul. 29, 2017 | 437,113 | $ 488 | 142,622 | 294,082 | (79) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Cumulative effect of change in accounting upon adoption of ASC Topic 606 | 389 | 389 | |||
BALANCE (shares) at Feb. 03, 2018 | 48,816,170 | ||||
BALANCE at Feb. 03, 2018 | 391,248 | $ 488 | 144,279 | 246,570 | (89) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
NET INCOME | 33,997 | 33,997 | |||
Dividends paid on common stock | (24,512) | (24,512) | |||
Issuance of non-vested stock, net of forfeitures (shares) | 202,025 | ||||
Issuance of non-vested stock, net of forfeitures | $ 2 | (2) | |||
Amortization of non-vested stock grants, net of forfeitures | 2,896 | 2,896 | |||
Change in unrealized loss on investments, net of tax | 89 | 89 | |||
BALANCE (shares) at Aug. 04, 2018 | 49,018,195 | ||||
BALANCE at Aug. 04, 2018 | $ 404,107 | $ 490 | $ 147,173 | $ 256,444 | $ 0 |
CONDENSED CONSOLIDATED STATEME8
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) (Parenthetical) - $ / shares | 6 Months Ended | |
Aug. 04, 2018 | Jul. 29, 2017 | |
Statement of Stockholders' Equity [Abstract] | ||
Dividends paid on common stock, per share | $ 0.5 | $ 0.5 |
CONDENSED CONSOLIDATED STATEME9
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Aug. 04, 2018 | Jul. 29, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
NET INCOME | $ 33,997 | $ 27,768 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Depreciation and amortization | 13,917 | 15,785 |
Amortization of non-vested stock grants, net of forfeitures | 2,896 | 3,226 |
Deferred income taxes | (750) | (1,193) |
Other | 524 | 395 |
Changes in operating assets and liabilities: | ||
Receivables | 993 | (145) |
Inventory | (10,196) | 4,023 |
Prepaid expenses and other assets | (785) | (1,727) |
Accounts payable | 17,499 | 14,962 |
Accrued employee compensation | (10,455) | (12,776) |
Accrued store operating expenses | 5,643 | 1,633 |
Gift certificates redeemable | (4,099) | (5,501) |
Income taxes payable | (16,874) | (17,114) |
Deferred rent liabilities and deferred compensation | (1,438) | (289) |
Net cash flows from operating activities | 30,872 | 29,047 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchases of property and equipment | (6,097) | (7,167) |
Change in other assets | 94 | 61 |
Purchases of investments | (25,388) | (20,655) |
Proceeds from sales/maturities of investments | 28,894 | 22,215 |
Net cash flows from investing activities | (2,497) | (5,546) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Payment of dividends | (24,512) | (24,423) |
Net cash flows from financing activities | (24,512) | (24,423) |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 3,863 | (922) |
CASH AND CASH EQUIVALENTS, Beginning of period | 165,086 | 196,536 |
CASH AND CASH EQUIVALENTS, End of period | $ 168,949 | $ 195,614 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Aug. 04, 2018 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments necessary for the fair presentation of the results of operations for the interim periods have been included. All such adjustments are of a normal recurring nature. Because of the seasonal nature of the business, results for interim periods are not necessarily indicative of a full year's operations. The accounting policies followed by the Company and additional footnotes are reflected in the consolidated financial statements for the fiscal year ended February 3, 2018 , included in The Buckle, Inc.'s 2017 Form 10-K. The condensed consolidated balance sheet as of February 3, 2018 is derived from audited financial statements. For purposes of this report, unless the context otherwise requires, all references herein to the “Company”, “Buckle”, “we”, “us”, or similar terms refer to The Buckle, Inc. and its subsidiary. The Company follows generally accepted accounting principles (“GAAP”) established by the Financial Accounting Standards Board (“FASB”). References to GAAP in these notes are to the FASB Accounting Standards Codification (“ASC”). There were no significant changes to the Company's significant accounting policies as disclosed in Note A to the Company's Annual Report on Form 10-K for the fiscal year ended February 3, 2018 , except as set forth below. Revenue Recognition - Retail store sales are recorded, net of expected returns, upon the purchase of merchandise by customers. Online sales are recorded, net of expected returns, when the merchandise is tendered for delivery to the common carrier. Shipping fees charged to customers are included in revenue and shipping costs are included in selling expenses. Merchandise returns are estimated based upon the historical average sales return percentage and recognized at the transaction value. The Company also recognizes a return asset and a corresponding adjustment to cost of sales for the Company's right to recover returned merchandise, which is measured at the estimated carrying value, less any expected recovery costs. The Company recognizes revenue from sales made under its layaway program upon delivery of the merchandise to the customer. The Company records the sale of gift cards and gift certificates as a current liability and recognizes a sale when a customer redeems the gift card or gift certificate. Gift card and gift certificate breakage is recognized as revenue in proportion to the redemption pattern of customers by applying an estimated breakage rate. The estimated breakage rate is based on historical issuance and redemption patterns and is re-assessed by the Company on a regular basis. The Company recognizes a current liability for the down payment and subsequent installment payments made when merchandise is placed on layaway and recognizes layaways as a sale at the time the customer makes final payment and picks up the merchandise. Sales tax collected from customers is excluded from revenue and is included as part of "accrued store operating expenses" on the Company's consolidated balance sheets. The Company's Guest Loyalty program allows participating guests to earn points for every qualifying purchase, which (after achievement of certain point thresholds) are redeemable as a discount off a future purchase. Reported revenue is net of both current period reward redemptions and accruals for estimated future rewards earned under the Guest Loyalty program. A liability has been recorded for future rewards based on the Company's estimate of how many earned points will turn into rewards and ultimately be redeemed prior to expiration, which is included in "accrued store operating expenses." Through partnership with Comenity Bank, the Company offers a private label credit card ("PLCC"). Customers with a PLCC are enrolled in our B-Rewards incentive program and earn points for every qualifying purchase made on their card. At the end of each rewards period, customers who have exceeded a minimum point threshold receive a reward to be redeemed on a future purchase. The B-Rewards program also provides other discount and promotional opportunities to cardholders on a routine basis. Reported revenue is net of both current period reward redemptions, current period discounts and promotions, and accruals for estimated future rewards earned under the B-Rewards program. A liability has been recorded for future rewards based on the Company's estimate of how many earned points will turn into rewards and ultimately be redeemed prior to expiration, which is included in "gift certificates redeemable" on the Company's consolidated balance sheets. Recently Issued Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , which supersedes the revenue recognition requirements in Accounting Standards Codification ("ASC") Topic 605, Revenue Recognition . The new revenue recognition standard requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In preparation for the implementation of the new standard, the Company determined the adoption of Topic 606 would affect the timing of recognition and the income statement classification of gift card and gift certificate breakage, the timing of revenue recognition for sales of merchandise shipped to customers, and the presentation of the allowance for estimated sales returns. The Company adopted Topic 606 on February 4, 2018, using the modified retrospective transition method. Under this transition method, the prior period comparative information has not been adjusted and continues to be reported under Topic 605, with the cumulative effect of adopting the new standard recorded as a $389 adjustment increasing retained earnings as of February 4, 2018. The effect of the adoption of ASU 2014-09 on our consolidated balance sheet as of August 4, 2018 was as follows: As Reported Adjustments Excluding Topic 606 Adjustments Consolidated Balance Sheet Amounts Inventory $ 127,899 $ 1,474 $ 126,425 Accrued store operating expenses 21,289 1,778 19,511 Accounts payable 46,217 (693 ) 46,910 Retained earnings 256,444 389 256,055 The adoption of ASU 2014-09 did not have a material impact on the Company's results of operations for either the thirteen or twenty-six week periods ended August 4, 2018 . The adoption did, however, impact the income statement classification of gift card and gift certificate breakage. For the twenty-six week period ended August 4, 2018 , the Company recognized $415 of gift card and gift certificate breakage as revenue. For the twenty-six week period ended July 29, 2017 , the Company recognized $600 of breakage in "other income." |
Revenues
Revenues | 6 Months Ended |
Aug. 04, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Revenues | Revenues The Company is a retailer of medium to better priced casual apparel, footwear, and accessories for fashion conscious young men and women. The Company operates its business as one reportable segment. The Company sells its merchandise through its retail stores and e-Commerce platform. The Company had 455 stores located in 43 states throughout the United States as of August 4, 2018 and 463 stores in 44 states as of July 29, 2017 . During the twenty-six week period ended August 4, 2018 , the Company did not open any new stores, substantially remodeled 3 stores, and closed 2 stores; which includes 3 substantial remodels and 1 closed store during the second quarter. During the twenty-six week period ended July 29, 2017 , the Company opened 1 new store, substantially remodeled 7 stores, and closed 5 stores; which includes 1 new store and 5 substantial remodels during the second quarter. For the twenty-six week periods ended August 4, 2018 and July 29, 2017 , online revenues accounted for 10.9% and 10.1% , respectively, of the Company's net sales. No sales to an individual customer or country, other than the United States, accounted for more than 10% of net sales. The following is information regarding the Company’s major product lines, stated as a percentage of the Company’s net sales: Thirteen Weeks Ended Twenty-Six Weeks Ended Merchandise Group August 4, July 29, August 4, July 29, Denims 32.3 % 32.2 % 37.6 % 37.3 % Tops (including sweaters) 34.6 33.9 32.4 31.9 Sportswear/Fashions 13.9 14.4 11.4 11.9 Accessories 9.7 10.3 9.0 9.3 Footwear 6.5 6.3 6.6 6.3 Casual bottoms 1.1 1.1 1.0 1.4 Outerwear 0.4 0.5 0.7 0.8 Other 1.5 1.3 1.3 1.1 100.0 % 100.0 % 100.0 % 100.0 % |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Aug. 04, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share Basic earnings per share data are based on the weighted average outstanding common shares during the period. Diluted earnings per share data are based on the weighted average outstanding common shares and the effect of all dilutive potential common shares. Thirteen Weeks Ended Thirteen Weeks Ended August 4, 2018 July 29, 2017 Net Income Weighted Per Share Net Income Weighted Per Share Basic EPS $ 15,659 48,379 $ 0.32 $ 11,483 48,218 $ 0.24 Effect of Dilutive Securities: Non-vested shares — 213 — — 92 — Diluted EPS $ 15,659 48,592 $ 0.32 $ 11,483 48,310 $ 0.24 Twenty-Six Weeks Ended Twenty-Six Weeks Ended August 4, 2018 July 29, 2017 Net Income Weighted Per Share Net Income Weighted Per Share Basic EPS $ 33,997 48,379 $ 0.70 $ 27,768 48,218 $ 0.58 Effect of Dilutive Securities: Non-vested shares — 192 — — 109 (0.01 ) Diluted EPS $ 33,997 48,571 $ 0.70 $ 27,768 48,327 $ 0.57 (a) Shares in thousands. |
Investments
Investments | 6 Months Ended |
Aug. 04, 2018 | |
Schedule of Investments [Abstract] | |
Investments | Investments The following is a summary of investments as of August 4, 2018 : Amortized Cost or Par Value Gross Unrealized Gains Gross Unrealized Losses Other-than- Temporary Impairment Estimated Fair Value Held-to-Maturity Securities: State and municipal bonds $ 48,119 $ 19 $ (10 ) $ — $ 48,128 U.S. Treasury bonds 4,997 — — — 4,997 $ 53,116 $ 19 $ (10 ) $ — $ 53,125 Trading Securities: Mutual funds $ 14,279 $ 1,505 $ — $ — $ 15,784 The following is a summary of investments as of February 3, 2018 : Amortized Cost or Par Value Gross Unrealized Gains Gross Unrealized Losses Other-than- Temporary Impairment Estimated Fair Value Available-for-Sale Securities: Auction-rate securities $ 1,725 $ — $ (120 ) $ — $ 1,605 Held-to-Maturity Securities: State and municipal bonds $ 55,527 $ 9 $ (76 ) $ — $ 55,460 Trading Securities: Mutual funds $ 13,746 $ 1,408 $ — $ — $ 15,154 The amortized cost and fair value of debt securities by contractual maturity as of August 4, 2018 is as follows: Amortized Cost Fair Value Held-to-Maturity Securities Less than 1 year $ 51,600 $ 51,607 1 - 5 years 1,516 1,518 $ 53,116 $ 53,125 As of February 3, 2018 , $1,605 of available-for-sale securities are classified as long-term investments. As of August 4, 2018 and February 3, 2018 $1,516 and $4,694 of held-to-maturity securities are classified in long-term investments. Trading securities are held in a Rabbi Trust, intended to fund the Company’s deferred compensation plan, and are classified in long-term investments. The Company’s investments in auction-rate securities (“ARS”) are classified as available-for-sale and reported at fair market value. As of February 3, 2018 , the reported investment amount is net of $120 of temporary impairment to account for the impairment of certain securities from their stated par value. The $120 temporary impairment is reported, net of tax, as an “accumulated other comprehensive loss” of $89 in stockholders’ equity as February 3, 2018 . The investments considered temporarily impaired, all of which had been in loss positions for over a year, were successfully redeemed during fiscal 2018 at par value plus accrued interest. As of February 3, 2018 , all of the Company’s investments in ARS were classified in long-term investments. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Aug. 04, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial assets and liabilities measured and reported at fair value are classified and disclosed in one of the following categories: • Level 1 – Quoted market prices in active markets for identical assets or liabilities. Short-term and long-term investments with active markets or known redemption values are reported at fair value utilizing Level 1 inputs. • Level 2 – Observable market-based inputs (either directly or indirectly) such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or inputs that are corroborated by market data. • Level 3 – Unobservable inputs that are not corroborated by market data and are projections, estimates, or interpretations that are supported by little or no market activity and are significant to the fair value of the assets. As of August 4, 2018 and February 3, 2018 , the Company held certain assets that are required to be measured at fair value on a recurring basis including available-for-sale and trading securities. The Company’s financial assets measured at fair value on a recurring basis are as follows: Fair Value Measurements at Reporting Date Using Quoted Prices in Active Markets for Identical Assets Significant Observable Inputs Significant Unobservable Inputs August 4, 2018 (Level 1) (Level 2) (Level 3) Total Trading securities (including mutual funds) $ 15,784 $ — $ — $ 15,784 Fair Value Measurements at Reporting Date Using Quoted Prices in Active Markets for Identical Assets Significant Observable Inputs Significant Unobservable Inputs February 3, 2018 (Level 1) (Level 2) (Level 3) Total Available-for-sale securities: Auction-rate securities $ — $ 50 $ 1,555 $ 1,605 Trading securities (including mutual funds) 15,154 — — 15,154 Totals $ 15,154 $ 50 $ 1,555 $ 16,759 Securities included in Level 1 represent securities which have a known or anticipated upcoming redemption as of the reporting date and those that have publicly traded quoted prices. ARS included in Level 2 represent securities which have not experienced a successful auction subsequent to the end of fiscal 2007. The fair market value for these securities was determined by applying a discount to par value based on auction prices for similar securities and by utilizing a discounted cash flow model, using market-based inputs, to determine fair value. The Company used a discounted cash flow model to value its Level 3 investments, using estimates regarding recovery periods, yield, and liquidity. The assumptions used are subjective based upon management’s judgment and views on current market conditions, and resulted in $120 of the Company’s recorded temporary impairment as of February 3, 2018 . The use of different assumptions would have resulted in a different valuation and related temporary impairment charge. Changes in the fair value of the Company’s financial assets measured at fair value on a recurring basis are as follows: Twenty-Six Weeks Ended August 4, 2018 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Available-for-Sale Securities Trading Securities Auction-rate Securities Mutual Funds Total Balance, beginning of year $ 1,555 $ — $ 1,555 Total gains and losses: Included in net income — — — Included in other comprehensive income 120 — 120 Purchases, Issuances, Sales, and Settlements: Sales (1,675 ) — (1,675 ) Balance, end of quarter $ — $ — $ — Twenty-Six Weeks Ended July 29, 2017 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Available-for-Sale Securities Trading Securities Auction-rate Securities Mutual Funds Total Balance, beginning of year $ 1,625 $ — $ 1,625 Total gains and losses: Included in net income — — — Included in other comprehensive income 5 — 5 Purchases, Issuances, Sales, and Settlements: Sales (75 ) — (75 ) Balance, end of quarter $ 1,555 $ — $ 1,555 There were no transfers of securities between Levels 1, 2, or 3 during the twenty-six week periods ended August 4, 2018 or July 29, 2017 . The Company’s policy is to recognize transfers in and transfers out as of the beginning of the reporting period in which the transfer occurred. The carrying value of cash equivalents approximates fair value due to the low level of risk these assets present and their relatively liquid nature, particularly given their short maturities. The Company also holds certain financial instruments that are not carried at fair value on the condensed consolidated balance sheets, including held-to-maturity securities. Held-to-maturity securities consist primarily of state and municipal bonds. The fair values of these debt securities are based on quoted market prices and yields for the same or similar securities, which the Company determined to be Level 2 inputs. As of August 4, 2018 , the fair value of held-to-maturity securities was $53,125 compared to the carrying amount of $53,116 . As of February 3, 2018 , the fair value of held-to-maturity securities was $55,460 compared to the carrying amount of $55,527 . The carrying values of receivables, accounts payable, accrued expenses, and other current liabilities approximates fair value because of their short-term nature. From time to time, the Company measures certain assets at fair value on a non-recurring basis, specifically long-lived assets evaluated for impairment. These are typically store specific assets, which are reviewed for impairment when circumstances indicate impairment may exist due to the questionable recoverability of the carrying values of long-lived assets. If expected future cash flows related to a store’s assets are less than their carrying value, an impairment loss would be recognized for the difference between the carrying value and the estimated fair value of the store's assets. The fair value of the store's assets is estimated utilizing an income-based approach based on the expected cash flows over the remaining life of the store's lease. The amount of impairment related to long-lived assets was immaterial as of both August 4, 2018 and February 3, 2018 . |
Supplemental Cash Flow Informat
Supplemental Cash Flow Information | 6 Months Ended |
Aug. 04, 2018 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental Cash Flow Information | Supplemental Cash Flow Information The Company had non-cash investing activities during the twenty-six week periods ended August 4, 2018 and July 29, 2017 of ($24) and $151 , respectively. The non-cash investing activity relates to the change in the balance of unpaid purchases of property, plant, and equipment included in accounts payable as of the end of the period. The liability for unpaid purchases of property, plant, and equipment included in accounts payable was $395 and $371 as of August 4, 2018 and February 3, 2018 , respectively. Amounts reported as unpaid purchases are recorded as cash outflows from investing activities for purchases of property, plant, and equipment in the condensed consolidated statement of cash flows in the period they are paid. Additional cash flow information for the Company includes cash paid for income taxes during the twenty-six week periods ended August 4, 2018 and July 29, 2017 of $29,506 and $34,826 , respectively. |
Stock-Based Compensation
Stock-Based Compensation | 6 Months Ended |
Aug. 04, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation | Stock-Based Compensation The Company has several stock option plans which allow for granting of stock options to employees, executives, and directors. The Company has not granted any stock options since fiscal 2008 and there are currently no stock options outstanding. The Company also has a restricted stock plan that allows for the granting of non-vested shares of common stock to employees and executives and a restricted stock plan that allows for the granting of non-vested shares of common stock to non-employee directors. As of August 4, 2018 , 1,060,891 shares were available for grant under the Company’s various restricted stock plans, of which 1,015,517 shares were available for grant to executive officers. Compensation expense was recognized during fiscal 2018 and fiscal 2017 for equity-based grants, based on the grant date fair value of the awards. The fair value of grants of non-vested common stock awards is the stock price on the date of grant. Information regarding the impact of compensation expense related to grants of non-vested shares of common stock is as follows: Thirteen Weeks Ended Twenty-Six Weeks Ended August 4, July 29, August 4, July 29, Stock-based compensation expense, before tax $ 1,412 $ 1,580 $ 2,896 $ 3,226 Stock-based compensation expense, after tax $ 1,046 $ 995 $ 2,146 $ 2,032 Non-vested shares of common stock granted during the twenty-six week periods ended August 4, 2018 and July 29, 2017 were granted pursuant to the Company’s 2005 Restricted Stock Plan and the Company’s 2008 Director Restricted Stock Plan. Shares granted under the 2005 Plan are typically "performance based" and vest over a period of four years , only upon certification by the Compensation Committee of the Board of Directors that the Company has achieved its pre-established performance targets for the fiscal year. Certain shares granted under the 2005 Plan, however, are "non-performance based" and vest over a period of four years without being subject to the achievement of performance targets. Shares granted under the 2008 Director Plan vest 25% on the date of grant and then in equal portions on each of the first three anniversaries of the date of grant. A summary of the Company’s stock-based compensation activity related to grants of non-vested shares of common stock for the twenty-six week period ended August 4, 2018 is as follows: Shares Weighted Average Grant Date Fair Value Non-Vested - beginning of year 470,022 $ 24.63 Granted 374,050 19.60 Forfeited (172,025 ) 20.96 Vested (33,006 ) 20.44 Non-Vested - end of quarter 639,041 $ 22.89 As of August 4, 2018 , there was $7,644 of unrecognized compensation expense related to grants of non-vested shares. It is expected that this expense will be recognized over a weighted average period of approximately 2.1 years . The total fair value of shares vested during the twenty-six week periods ended August 4, 2018 and July 29, 2017 was $698 and $776 , respectively. During the twenty-six week period ended August 4, 2018 , 145,325 shares (representing one-half of the "performance based" shares granted during fiscal 2017 under the 2005 Restricted Stock Plan) were forfeited because the Company did not achieve all of the performance targets established for the fiscal 2017 grants. |
Recently Issued Accounting Pron
Recently Issued Accounting Pronouncements | 6 Months Ended |
Aug. 04, 2018 | |
Accounting Changes and Error Corrections [Abstract] | |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) . This ASU replaces the existing guidance in ASC 840, Leases . The new standard establishes a right-of-use ("ROU") model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years and requires retrospective application. The Company is currently evaluating the effect that adopting this new accounting guidance will have on its consolidated results of operations and financial position, but does expect that it will result in a significant increase in both assets and liabilities related to the Company's leases for retail store locations. |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Aug. 04, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Data Security Incident On June 16, 2017, the Company announced that it had become aware that it was a victim of a data security incident in which a criminal entity accessed certain guest credit card information following purchases at some of the Company's retail stores between October 28, 2016 and April 14, 2017. The Company immediately launched a thorough investigation and engaged leading third-party forensic experts to review its systems and secure the affected part of its network. Through that investigation, the Company learned that its store payment data systems were infected with a form of malicious code, which was quickly removed. The Company has taken actions that it believes have contained the issue and has implemented additional security enhancements, and will continue to work vigilantly to pursue this matter to resolution. Based on the forensic investigation, the Company believes that no social security numbers, email addresses, or physical addresses were obtained by those criminally responsible. There is also no evidence that the buckle.com website or buckle.com guests were impacted. Buckle self-reported the issue to the payment card brands and cooperated fully with the card brands, their forensic experts, and law enforcement during the investigation. At this time, it is not possible to reasonably estimate the amount of any potential assessments, fines, penalties, or other liabilities in connection with this incident. |
Basis of Presentation (Tables)
Basis of Presentation (Tables) | 6 Months Ended |
Aug. 04, 2018 | |
Accounting Policies [Abstract] | |
Schedule of Adoption of ASU 2014-09 | The effect of the adoption of ASU 2014-09 on our consolidated balance sheet as of August 4, 2018 was as follows: As Reported Adjustments Excluding Topic 606 Adjustments Consolidated Balance Sheet Amounts Inventory $ 127,899 $ 1,474 $ 126,425 Accrued store operating expenses 21,289 1,778 19,511 Accounts payable 46,217 (693 ) 46,910 Retained earnings 256,444 389 256,055 |
Revenues (Tables)
Revenues (Tables) | 6 Months Ended |
Aug. 04, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of Product Information | The following is information regarding the Company’s major product lines, stated as a percentage of the Company’s net sales: Thirteen Weeks Ended Twenty-Six Weeks Ended Merchandise Group August 4, July 29, August 4, July 29, Denims 32.3 % 32.2 % 37.6 % 37.3 % Tops (including sweaters) 34.6 33.9 32.4 31.9 Sportswear/Fashions 13.9 14.4 11.4 11.9 Accessories 9.7 10.3 9.0 9.3 Footwear 6.5 6.3 6.6 6.3 Casual bottoms 1.1 1.1 1.0 1.4 Outerwear 0.4 0.5 0.7 0.8 Other 1.5 1.3 1.3 1.1 100.0 % 100.0 % 100.0 % 100.0 % |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Aug. 04, 2018 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | Basic earnings per share data are based on the weighted average outstanding common shares during the period. Diluted earnings per share data are based on the weighted average outstanding common shares and the effect of all dilutive potential common shares. Thirteen Weeks Ended Thirteen Weeks Ended August 4, 2018 July 29, 2017 Net Income Weighted Per Share Net Income Weighted Per Share Basic EPS $ 15,659 48,379 $ 0.32 $ 11,483 48,218 $ 0.24 Effect of Dilutive Securities: Non-vested shares — 213 — — 92 — Diluted EPS $ 15,659 48,592 $ 0.32 $ 11,483 48,310 $ 0.24 Twenty-Six Weeks Ended Twenty-Six Weeks Ended August 4, 2018 July 29, 2017 Net Income Weighted Per Share Net Income Weighted Per Share Basic EPS $ 33,997 48,379 $ 0.70 $ 27,768 48,218 $ 0.58 Effect of Dilutive Securities: Non-vested shares — 192 — — 109 (0.01 ) Diluted EPS $ 33,997 48,571 $ 0.70 $ 27,768 48,327 $ 0.57 (a) Shares in thousands. |
Investments (Tables)
Investments (Tables) | 6 Months Ended |
Aug. 04, 2018 | |
Schedule of Investments [Abstract] | |
Schedule of investments, cost and fair value | The following is a summary of investments as of August 4, 2018 : Amortized Cost or Par Value Gross Unrealized Gains Gross Unrealized Losses Other-than- Temporary Impairment Estimated Fair Value Held-to-Maturity Securities: State and municipal bonds $ 48,119 $ 19 $ (10 ) $ — $ 48,128 U.S. Treasury bonds 4,997 — — — 4,997 $ 53,116 $ 19 $ (10 ) $ — $ 53,125 Trading Securities: Mutual funds $ 14,279 $ 1,505 $ — $ — $ 15,784 The following is a summary of investments as of February 3, 2018 : Amortized Cost or Par Value Gross Unrealized Gains Gross Unrealized Losses Other-than- Temporary Impairment Estimated Fair Value Available-for-Sale Securities: Auction-rate securities $ 1,725 $ — $ (120 ) $ — $ 1,605 Held-to-Maturity Securities: State and municipal bonds $ 55,527 $ 9 $ (76 ) $ — $ 55,460 Trading Securities: Mutual funds $ 13,746 $ 1,408 $ — $ — $ 15,154 |
Schedule of amortized cost and fair value of debt securities by contractual maturity | The amortized cost and fair value of debt securities by contractual maturity as of August 4, 2018 is as follows: Amortized Cost Fair Value Held-to-Maturity Securities Less than 1 year $ 51,600 $ 51,607 1 - 5 years 1,516 1,518 $ 53,116 $ 53,125 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Aug. 04, 2018 | |
Fair Value Disclosures [Abstract] | |
Financial assets measured at fair value on a recurring basis | The Company’s financial assets measured at fair value on a recurring basis are as follows: Fair Value Measurements at Reporting Date Using Quoted Prices in Active Markets for Identical Assets Significant Observable Inputs Significant Unobservable Inputs August 4, 2018 (Level 1) (Level 2) (Level 3) Total Trading securities (including mutual funds) $ 15,784 $ — $ — $ 15,784 Fair Value Measurements at Reporting Date Using Quoted Prices in Active Markets for Identical Assets Significant Observable Inputs Significant Unobservable Inputs February 3, 2018 (Level 1) (Level 2) (Level 3) Total Available-for-sale securities: Auction-rate securities $ — $ 50 $ 1,555 $ 1,605 Trading securities (including mutual funds) 15,154 — — 15,154 Totals $ 15,154 $ 50 $ 1,555 $ 16,759 |
Financial assets measured at fair value on a recurring basis, unobservable input reconciliation | Changes in the fair value of the Company’s financial assets measured at fair value on a recurring basis are as follows: Twenty-Six Weeks Ended August 4, 2018 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Available-for-Sale Securities Trading Securities Auction-rate Securities Mutual Funds Total Balance, beginning of year $ 1,555 $ — $ 1,555 Total gains and losses: Included in net income — — — Included in other comprehensive income 120 — 120 Purchases, Issuances, Sales, and Settlements: Sales (1,675 ) — (1,675 ) Balance, end of quarter $ — $ — $ — Twenty-Six Weeks Ended July 29, 2017 Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Available-for-Sale Securities Trading Securities Auction-rate Securities Mutual Funds Total Balance, beginning of year $ 1,625 $ — $ 1,625 Total gains and losses: Included in net income — — — Included in other comprehensive income 5 — 5 Purchases, Issuances, Sales, and Settlements: Sales (75 ) — (75 ) Balance, end of quarter $ 1,555 $ — $ 1,555 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 6 Months Ended |
Aug. 04, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-based compensation expense | Information regarding the impact of compensation expense related to grants of non-vested shares of common stock is as follows: Thirteen Weeks Ended Twenty-Six Weeks Ended August 4, July 29, August 4, July 29, Stock-based compensation expense, before tax $ 1,412 $ 1,580 $ 2,896 $ 3,226 Stock-based compensation expense, after tax $ 1,046 $ 995 $ 2,146 $ 2,032 |
Summary of stock-based compensation activity related to grants of non-vested shares of common stock | A summary of the Company’s stock-based compensation activity related to grants of non-vested shares of common stock for the twenty-six week period ended August 4, 2018 is as follows: Shares Weighted Average Grant Date Fair Value Non-Vested - beginning of year 470,022 $ 24.63 Granted 374,050 19.60 Forfeited (172,025 ) 20.96 Vested (33,006 ) 20.44 Non-Vested - end of quarter 639,041 $ 22.89 |
Basis of Presentation (Details)
Basis of Presentation (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Aug. 04, 2018 | Jul. 29, 2017 | Feb. 03, 2018 | |
Accounting Policies [Abstract] | |||
Cumulative effect of adopting new standard | $ 389 | ||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||
Inventory | $ 127,899 | 118,007 | |
Accrued store operating expenses | 21,289 | 15,646 | |
Accounts payable | 46,217 | 29,387 | |
Retained earnings | 256,444 | $ 246,570 | |
Revenue [Member] | |||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||
Gift card and gift certificate breakage | 415 | ||
Other income [Member] | |||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||
Gift card and gift certificate breakage | $ 600 | ||
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||
Inventory | 126,425 | ||
Accrued store operating expenses | 19,511 | ||
Accounts payable | 46,910 | ||
Retained earnings | 256,055 | ||
Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | |||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||
Inventory | 1,474 | ||
Accrued store operating expenses | 1,778 | ||
Accounts payable | (693) | ||
Retained earnings | $ 389 |
Revenues (Narrative) (Details)
Revenues (Narrative) (Details) | 3 Months Ended | 6 Months Ended | ||
Aug. 04, 2018storestate | Jul. 29, 2017storestate | Aug. 04, 2018storestatesegment | Jul. 29, 2017storestate | |
Product Information [Line Items] | ||||
Percentage of net sales | 100.00% | 100.00% | 100.00% | 100.00% |
Number of reportable segments (segment) | segment | 1 | |||
Number of stores (store) | 455 | 463 | 455 | 463 |
Number of states in which stores are located (state) | state | 43 | 44 | 43 | 44 |
New stores opened during the period (store) | 0 | 1 | 0 | 1 |
Stores substantially remodeled during the period (store) | 3 | 5 | 3 | 7 |
Stores closed during the period (store) | 1 | 0 | 2 | 5 |
Revenue [Member] | Online revenues [Member] | ||||
Product Information [Line Items] | ||||
Revenue segment greater than 10 percent | 10.90% | 10.10% |
Revenues (Information Regarding
Revenues (Information Regarding Major Product Lines) (Details) | 3 Months Ended | 6 Months Ended | ||
Aug. 04, 2018 | Jul. 29, 2017 | Aug. 04, 2018 | Jul. 29, 2017 | |
Product Information [Line Items] | ||||
Percentage of net sales | 100.00% | 100.00% | 100.00% | 100.00% |
Denims [Member] | ||||
Product Information [Line Items] | ||||
Percentage of net sales | 32.30% | 32.20% | 37.60% | 37.30% |
Tops (including sweaters) [Member] | ||||
Product Information [Line Items] | ||||
Percentage of net sales | 34.60% | 33.90% | 32.40% | 31.90% |
Sportswear / Fashions [Member] | ||||
Product Information [Line Items] | ||||
Percentage of net sales | 13.90% | 14.40% | 11.40% | 11.90% |
Accessories [Member] | ||||
Product Information [Line Items] | ||||
Percentage of net sales | 9.70% | 10.30% | 9.00% | 9.30% |
Footwear [Member] | ||||
Product Information [Line Items] | ||||
Percentage of net sales | 6.50% | 6.30% | 6.60% | 6.30% |
Casual bottoms [Member] | ||||
Product Information [Line Items] | ||||
Percentage of net sales | 1.10% | 1.10% | 1.00% | 1.40% |
Outerwear [Member] | ||||
Product Information [Line Items] | ||||
Percentage of net sales | 0.40% | 0.50% | 0.70% | 0.80% |
Other [Member] | ||||
Product Information [Line Items] | ||||
Percentage of net sales | 1.50% | 1.30% | 1.30% | 1.10% |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Aug. 04, 2018 | Jul. 29, 2017 | Aug. 04, 2018 | Jul. 29, 2017 | |
Income | ||||
Basic EPS, Income | $ 15,659 | $ 11,483 | $ 33,997 | $ 27,768 |
Effect of dilutive non-vested shares, Income | 0 | 0 | 0 | 0 |
Diluted EPS, Income | $ 15,659 | $ 11,483 | $ 33,997 | $ 27,768 |
Weighted Average Shares | ||||
Basic EPS, Weighted Average Shares (shares) | 48,379 | 48,218 | 48,379 | 48,218 |
Effect of dilutive non-vested shares, Weighted Average Shares (shares) | 213 | 92 | 192 | 109 |
Diluted EPS, Weighted Average Shares (shares) | 48,592 | 48,310 | 48,571 | 48,327 |
Per Share Amount | ||||
Basic EPS, Per Share Amount (dollars per share) | $ 0.32 | $ 0.24 | $ 0.70 | $ 0.58 |
Effect of dilutive non-vested shares, Per Share Amount (dollars per share) | 0 | 0 | 0 | (0.01) |
Diluted EPS, Per Share Amount (dollars per share) | $ 0.32 | $ 0.24 | $ 0.70 | $ 0.57 |
Investments (Schedule of Invest
Investments (Schedule of Investments) (Details) - USD ($) $ in Thousands | Aug. 04, 2018 | Feb. 03, 2018 |
Held-to-maturity Securities [Abstract] | ||
Held-to-Maturity Securities, Amortized Cost or Par Value | $ 53,116 | $ 55,527 |
Held-to-Maturity Securities, Gross Unrealized Gains | 19 | 9 |
Held-to-Maturity Securities, Gross Unrealized Losses | (10) | (76) |
Held-to-Maturity Securities, Other-than-Temporary Impairment | 0 | 0 |
Held-to-Maturity Securities, Estimated Fair Value | 53,125 | 55,460 |
Auction-rate securities [Member] | ||
Available-for-sale Securities [Abstract] | ||
Available-for-Sale Securities, Amortized Cost or Par Value | 1,725 | |
Available-for-Sale Securities, Gross Unrealized Gains | 0 | |
Available-for-Sale Securities, Gross Unrealized Losses | (120) | |
Available-for-Sale Securities, Other-than-Temporary Impairment | 0 | |
Available-for-Sale Securities, Estimated Fair Value | 1,605 | |
State and municipal bonds [Member] | ||
Held-to-maturity Securities [Abstract] | ||
Held-to-Maturity Securities, Amortized Cost or Par Value | 48,119 | 55,527 |
Held-to-Maturity Securities, Gross Unrealized Gains | 19 | 9 |
Held-to-Maturity Securities, Gross Unrealized Losses | (10) | (76) |
Held-to-Maturity Securities, Other-than-Temporary Impairment | 0 | 0 |
Held-to-Maturity Securities, Estimated Fair Value | 48,128 | 55,460 |
U.S. Treasury bonds [Member] | ||
Held-to-maturity Securities [Abstract] | ||
Held-to-Maturity Securities, Amortized Cost or Par Value | 4,997 | |
Held-to-Maturity Securities, Gross Unrealized Gains | 0 | |
Held-to-Maturity Securities, Gross Unrealized Losses | 0 | |
Held-to-Maturity Securities, Other-than-Temporary Impairment | 0 | |
Held-to-Maturity Securities, Estimated Fair Value | 4,997 | |
Mutual funds [Member] | ||
Trading Securities [Abstract] | ||
Trading Securities, Amortized Cost or Par Value | 14,279 | 13,746 |
Trading Securities, Gross Unrealized Gains | 1,505 | 1,408 |
Trading Securities, Gross Unrealized Losses | 0 | 0 |
Trading Securities, Other-than-Temporary Impairment | 0 | 0 |
Trading Securities, Estimated Fair Value | $ 15,784 | $ 15,154 |
Investments (Held-To-Maturity S
Investments (Held-To-Maturity Securities) (Details) - USD ($) $ in Thousands | Aug. 04, 2018 | Feb. 03, 2018 |
Contractual maturities of held-to-maturity securities, at amortized cost: | ||
Less than 1 year, Amortized Cost | $ 51,600 | |
1 - 5 years, Amortized Cost | 1,516 | |
Held-to-Maturity Securities, Amortized Cost | 53,116 | |
Contractual maturities of held-to-maturity securities, at fair values: | ||
Less than 1 year, Fair Value | 51,607 | |
1 - 5 years, Fair Value | 1,518 | |
Held-to-Maturity Securities, Estimated Fair Value | $ 53,125 | $ 55,460 |
Investments (Narrative) (Detail
Investments (Narrative) (Details) - USD ($) $ in Thousands | Aug. 04, 2018 | Feb. 03, 2018 |
Schedule of Investments [Line Items] | ||
Available-for-sale securities classified as noncurrent | $ 1,605 | |
Long-term investment, held-to-maturity securities | $ 1,516 | 4,694 |
Accumulated comprehensive loss, cumulative unrealized losses on available for sale securities, net of tax | $ 0 | 89 |
Auction-rate securities [Member] | ||
Schedule of Investments [Line Items] | ||
Temporary impairment | 120 | |
Accumulated comprehensive loss, cumulative unrealized losses on available for sale securities, net of tax | $ 89 |
Fair Value Measurements (Recurr
Fair Value Measurements (Recurring Basis) (Details) - USD ($) $ in Thousands | Aug. 04, 2018 | Feb. 03, 2018 |
Auction-rate securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities, Estimated Fair Value | $ 1,605 | |
Mutual funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities (including mutual funds) | $ 15,784 | 15,154 |
Fair Value Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Totals | 16,759 | |
Fair Value Measurements, Recurring [Member] | Auction-rate securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities, Estimated Fair Value | 1,605 | |
Fair Value Measurements, Recurring [Member] | Mutual funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities (including mutual funds) | 15,784 | 15,154 |
Fair Value Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Totals | 15,154 | |
Fair Value Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Auction-rate securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities, Estimated Fair Value | 0 | |
Fair Value Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Mutual funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities (including mutual funds) | 15,784 | 15,154 |
Fair Value Measurements, Recurring [Member] | Significant Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Totals | 50 | |
Fair Value Measurements, Recurring [Member] | Significant Observable Inputs (Level 2) [Member] | Auction-rate securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities, Estimated Fair Value | 50 | |
Fair Value Measurements, Recurring [Member] | Significant Observable Inputs (Level 2) [Member] | Mutual funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities (including mutual funds) | 0 | 0 |
Fair Value Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Totals | 1,555 | |
Fair Value Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Auction-rate securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities, Estimated Fair Value | 1,555 | |
Fair Value Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Mutual funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading securities (including mutual funds) | $ 0 | $ 0 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands | Aug. 04, 2018 | Feb. 03, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity securities, fair value | $ 53,125 | $ 55,460 |
Held-to-maturity securities, carrying value | 53,116 | 55,527 |
Auction-rate securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Temporary impairment | 120 | |
Auction-rate securities [Member] | Significant Unobservable Inputs (Level 3) [Member] | Fair Value Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Temporary impairment | 120 | |
US States and Political Subdivisions Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Held-to-maturity securities, fair value | 48,128 | 55,460 |
Held-to-maturity securities, carrying value | $ 48,119 | $ 55,527 |
Fair Value Measurements (Change
Fair Value Measurements (Changes in Fair Value) (Details) - Fair Value Measurements, Recurring [Member] - USD ($) $ in Thousands | 6 Months Ended | |
Aug. 04, 2018 | Jul. 29, 2017 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Balance, Level 3 securities, beginning of year | $ 1,555 | $ 1,625 |
Realized gains (losses) on Level 3 securities included in net income | 0 | 0 |
Unrealized gains (losses) on Level 3 securities included in other comprehensive income | 120 | 5 |
Sales of Level 3 securities | (1,675) | (75) |
Balance, Level 3 securities, end of quarter | 0 | 1,555 |
Auction-rate securities [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Balance, Level 3 securities, beginning of year | 1,555 | 1,625 |
Realized gains (losses) on Level 3 securities included in net income | 0 | 0 |
Unrealized gains (losses) on Level 3 securities included in other comprehensive income | 120 | 5 |
Sales of Level 3 securities | (1,675) | (75) |
Balance, Level 3 securities, end of quarter | 0 | 1,555 |
Mutual funds [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Balance, Level 3 securities, beginning of year | 0 | 0 |
Realized gains (losses) on Level 3 securities included in net income | 0 | 0 |
Unrealized gains (losses) on Level 3 securities included in other comprehensive income | 0 | 0 |
Sales of Level 3 securities | 0 | 0 |
Balance, Level 3 securities, end of quarter | $ 0 | $ 0 |
Supplemental Cash Flow Inform35
Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 6 Months Ended | ||
Aug. 04, 2018 | Jul. 29, 2017 | Feb. 03, 2018 | |
Supplemental Cash Flow Elements [Abstract] | |||
Non-cash investing activities - change in unpaid purchases of property, plant and equipment | $ (24) | $ 151 | |
Current liability for unpaid purchases of property, plant and equipment | 395 | $ 371 | |
Cash paid for income taxes | $ 29,506 | $ 34,826 |
Stock-Based Compensation (Narra
Stock-Based Compensation (Narrative) (Details) - Restricted Stock [Member] - USD ($) $ in Thousands | 6 Months Ended | |
Aug. 04, 2018 | Jul. 29, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares available for grant (shares) | 1,060,891 | |
Unrecognized compensation expense | $ 7,644 | |
Expected weighted average period of unrecognized compensation expense recognition (years) | 2 years 1 month | |
Total fair value of shares vested | $ 698 | $ 776 |
Forfeited (shares) | 172,025 | |
Director Restricted Stock Plan 2008 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares vested description | Shares granted under the 2008 Director Plan vest 25% on the date of grant and then in equal portions on each of the first three anniversaries of the date of grant. | |
Vesting period (years) | 3 years | |
Percentage of shares vesting annually (percent) | 25.00% | |
Executive Officers [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares available for grant (shares) | 1,015,517 | |
Performance Based Grant [Member] | Restricted Stock Plan 2005 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares vested description | Shares granted under the 2005 Plan are typically "performance based" and vest over a period of four years, only upon certification by the Compensation Committee of the Board of Directors that the Company has achieved its pre-established performance targets for the fiscal year. | |
Vesting period (years) | 4 years | |
Forfeited (shares) | 145,325 | |
Non-Performance Based Grant [Member] | Restricted Stock Plan 2005 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares vested description | Certain shares granted under the 2005 Plan, however, are "non-performance based" and vest over a period of four years without being subject to the achievement of performance targets. | |
Vesting period (years) | 4 years |
Stock-Based Compensation (Compe
Stock-Based Compensation (Compensation Expenses) (Details) - Restricted Stock [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Aug. 04, 2018 | Jul. 29, 2017 | Aug. 04, 2018 | Jul. 29, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation expense, before tax | $ 1,412 | $ 1,580 | $ 2,896 | $ 3,226 |
Stock-based compensation expense, after tax | $ 1,046 | $ 995 | $ 2,146 | $ 2,032 |
Stock-Based Compensation (Non-v
Stock-Based Compensation (Non-vested Shares) (Details) - Restricted Stock [Member] | 6 Months Ended |
Aug. 04, 2018$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Non-Vested - beginning of year (shares) | shares | 470,022 |
Granted (shares) | shares | 374,050 |
Forfeited (shares) | shares | (172,025) |
Vested (shares) | shares | (33,006) |
Non-Vested - end of quarter (shares) | shares | 639,041 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |
Non-Vested - beginning of year, Weighted Average Grant Date Fair Value (dollars per share) | $ / shares | $ 24.63 |
Granted, Weighted Average Grant Date Fair Value (dollars per share) | $ / shares | 19.60 |
Forfeited, Weighted Average Grant Date Fair Value (dollars per share) | $ / shares | 20.96 |
Vested, Weighted Average Grant Date Fair Value (dollars per share) | $ / shares | 20.44 |
Non-Vested - end of quarter, Weighted Average Grant Date Fair Value (dollars per share) | $ / shares | $ 22.89 |