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Fair Value Measurements | 6 Months Ended
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Aug. 03, 2024
Fair Value Disclosures [Abstract] |
Fair Value Measurements | Note 5 - Fair Value Measurements Financial Instruments The following table presents financial instruments that are measured at fair value on a recurring basis at August 3, 2024, February 3, 2024 and July 29, 2023:
|  | Fair Value Measurements |
(In thousands) |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
As of August 3, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents - money market mutual funds |  | $ | 44,072 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 44,072 |
Marketable securities - mutual funds that fund deferred compensation |  |  | 12,831 |  |  |  | 0 |  |  |  | 0 |  |  |  | 12,831 |
Total |  | $ | 56,903 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 56,903 |
As of February 3, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents - money market mutual funds |  | $ | 91,733 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 91,733 |
Marketable securities - mutual funds that fund deferred compensation |  |  | 12,247 |  |  |  |  |  |  |  |  |  | 12,247 |
Total |  | $ | 103,980 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 103,980 |
As of July 29, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents - money market mutual funds |  | $ | 22,445 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 22,445 |
Marketable securities - mutual funds that fund deferred compensation |  |  | 12,218 |  |  |  |  |  |  |  |  |  | 12,218 |
Total |  | $ | 34,663 |  |  | $ | 0 |  |  | $ | 0 |  |  | $ | 34,663 |
We invest in publicly traded mutual funds with readily determinable fair values. These Marketable Securities are designed to mitigate volatility in our Consolidated Statements of Income associated with our non-qualified deferred compensation plan. As of August 3, 2024, these Marketable Securities were principally invested in equity-based mutual funds, consistent with the allocation in our deferred compensation plan. To the extent there is a variation in invested funds compared to the total non-qualified deferred compensation plan liability, such fund variance is managed through a stable value mutual fund. We classify these Marketable Securities as current assets because we have the ability to convert the securities into cash at our discretion and these Marketable Securities are not held in a rabbi trust. Changes in these Marketable Securities and deferred compensation plan liabilities are charged to Selling, General and Administrative Expenses. Deferred Compensation Plan Liabilities and Related Marketable Securities The following tables present the balances and activity of the Company’s deferred compensation plan liabilities and related Marketable Securities:
(In thousands) |  | August 3, 2024 |  |  | February 3, 2024 |  |  | July 29, 2023 |
Deferred compensation plan current liabilities |  | $ | 193 |  |  | $ | 114 |  |  | $ | 1,617 |
Deferred compensation plan long-term liabilities |  |  | 12,564 |  |  |  | 11,639 |  |  |  | 10,596 |
Total deferred compensation plan liabilities |  | $ | 12,757 |  |  | $ | 11,753 |  |  | $ | 12,213 |
Marketable securities - mutual funds that fund deferred compensation |  | $ | 12,831 |  |  | $ | 12,247 |  |  | $ | 12,218 |
(In thousands) |  | Thirteen Weeks Ended August 3, 2024 |  |  | Thirteen Weeks Ended July 29, 2023 |  |  | Twenty-six Weeks Ended August 3, 2024 |  |  | Twenty-six Weeks Ended July 29, 2023 |
Deferred compensation liabilities |  |  |  |  |  |  |  |  |  |  |  |
Employer contributions, net |  | $ | 71 |  |  | $ | 75 |  |  | $ | 152 |  |  | $ | 171 |
Investment earnings |  |  | 259 |  |  |  | 659 |  |  |  | 582 |  |  |  | 656 |
Marketable Securities |  |  |  |  |  |  |  |  |  |  |  |
Mark-to-market gains (1) |  |  | (276 | ) |  |  | (683 | ) |  |  | (584 | ) |  |  | (617 | )
Net deferred compensation expense |  | $ | 54 |  |  | $ | 51 |  |  | $ | 150 |  |  | $ | 210 |
(1) Included in the mark-to-market activity related to equity securities still held at quarter-end, we recognized unrealized gains of $258,000 and $761,000 for the thirteen weeks ended August 3, 2024 and July 29, 2023, respectively, and $550,000 and $1.1 million for the twenty-six weeks ended August 3, 2024 and July 29, 2023, respectively. The fair values of Cash and Cash Equivalents, Accounts Receivable, Accounts Payable and Accrued and Other Liabilities approximate their carrying values because of their short-term nature. Long-Lived Asset Impairment Testing We periodically evaluate our long-lived assets for impairment if events or circumstances indicate that the carrying value may not be recoverable. The carrying value of long-lived assets is considered impaired when the carrying value of the assets exceeds the expected future cash flows to be derived from their use. Assets are grouped, and the evaluation is performed, at the lowest level for which there are identifiable cash flows, which is generally at a store level. Store level asset groupings typically include Property and Equipment and Operating Lease Right-of-Use Assets, net of the current and long-term portions of Operating Lease Liabilities. Assets subject to impairment are adjusted to estimated fair value and, if applicable, an impairment loss is recorded in Selling, General and Administrative Expenses. If the Operating Lease Right-of-Use Asset is impaired, we would amortize the remaining right-of-use asset on a straight-line basis over the remaining lease term. No impairment charges were recorded during the twenty-six weeks ended August 3, 2024 or the twenty-six weeks ended July 29, 2023.

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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 107 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-107 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 100 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-100 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2E -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 940 -SubTopic 820 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478119/940-820-50-1 + Details
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