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Share-Based Compensation | 6 Months Ended
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Jul. 29, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Share-Based Compensation |
Note 10 | Share-Based Compensation
The Company recognized share-based compensation expense of $3.1 million and $2.3 million during the thirteen weeks and $5.8 million and $4.3 million during the twenty-six weeks ended July 29, 2017 and July 30, 2016, respectively. In addition to share-based compensation expense, the Company recognized cash-based expense related to performance share units and cash awards granted under the performance share plans of zero and $0.9 million during the thirteen weeks and $0.1 million and $1.5 million during the twenty-six weeks ended July 29, 2017 and July 30, 2016, respectively. The Company had net repurchases of 12,472 and 5,947 shares of common stock during the thirteen weeks ended July 29, 2017 and July 30, 2016, respectively, for restricted stock grants, stock performance awards issued to employees, stock options exercised and common and restricted stock grants issued to directors, net of forfeitures and shares withheld to satisfy the minimum tax withholding requirement. During the twenty-six weeks ended July 29, 2017 and July 30, 2016, the Company issued 241,886 and 180,825 shares of common stock, respectively, related to these share-based plans. Restricted Stock The following table summarizes restricted stock activity for the periods ended July 29, 2017 and July 30, 2016:
| Thirteen Weeks Ended |  |  | Thirteen Weeks Ended
| July 29, 2017 |  |  | July 30, 2016
|  |  | Weighted- Average Grant Date Fair Value |  |  |  |  | Weighted- Average Grant Date Fair Value
| Total Number of Restricted Shares |  |  |  | Total Number of Restricted Shares |
April 29, 2017 | 1,217,334 |  |  | $ | 27.96 |  |  | April 30, 2016 | 1,150,749 |  |  | $ | 25.38 |
Granted | 4,492 |  |  | 27.83 |  |  | Granted | 13,800 |  |  | 24.85 |
Forfeited | (17,500 | ) |  | 28.56 |  |  | Forfeited | (19,250 | ) |  | 26.59 |
Vested | (10,000 | ) |  | 18.80 |  |  | Vested | (6,000 | ) |  | 11.72 |
July 29, 2017 | 1,194,326 |  |  | $ | 28.03 |  |  | July 30, 2016 | 1,139,299 |  |  | $ | 25.42 |
| Twenty-Six Weeks Ended |  |  | Twenty-Six Weeks Ended
| July 29, 2017 |  |  | July 30, 2016
|  |  | Weighted- Average Grant Date Fair Value |  |  |  |  | Weighted- Average Grant Date Fair Value
| Total Number of Restricted Shares |  |  |  | Total Number of Restricted Shares |
January 28, 2017 | 1,128,049 |  |  | $ | 25.85 |  |  | January 30, 2016 | 1,262,449 |  |  | $ | 19.55 |
Granted | 356,312 |  |  | 26.91 |  |  | Granted | 350,600 |  |  | 26.57 |
Forfeited | (30,000 | ) |  | 27.75 |  |  | Forfeited | (48,500 | ) |  | 22.94 |
Vested | (260,035 | ) |  | 17.07 |  |  | Vested | (425,250 | ) |  | 9.22 |
July 29, 2017 | 1,194,326 |  |  | $ | 28.03 |  |  | July 30, 2016 | 1,139,299 |  |  | $ | 25.42 |
All of the restricted shares granted during the thirteen weeks ended July 29, 2017 have a cliff-vesting term of one year. Of the 356,312 restricted shares granted during the twenty-six weeks ended July 29, 2017, 4,492 shares have a cliff-vesting term of one year, 12,000 shares have a graded-vesting term of four years and 339,820 shares have a cliff-vesting term of four years. All of the restricted shares granted during the thirteen and twenty-six weeks ended July 30, 2016 have a cliff-vesting term of four years. Share-based compensation expense is recognized on a straight-line basis over the respective vesting periods. Performance Share Awards During the thirteen weeks ended July 29, 2017 and July 30, 2016, the Company granted no performance share awards. During the twenty-six weeks ended July 29, 2017 and July 30, 2016, the Company granted performance share awards for a targeted 169,500 and 159,000 shares, respectively with a weighted-average grant date fair value of $26.90 and $26.64, respectively. Vesting of performance-based awards is dependent upon the financial performance of the Company and the attainment of certain financial goals during the three-year period following the grant. At the end of the vesting period, the employee will have earned an amount of shares or units between 0% and 200% of the targeted award, depending on the achievement of the specified financial goals for the service period. Compensation expense is recognized based on the fair value of the award and the anticipated number of shares or units to be awarded for each tranche in accordance with the vesting schedule of the units over the three-year service period. The performance share units are settled in cash and their fair value is based on the unadjusted quoted market price for the Company’s common stock on each measurement date. During the first quarter of 2017, the Company's remaining performance share awards granted in units vested and were settled in cash at fair value. Refer to Note 13 to the condensed consolidated financial statements for further discussion regarding performance share units. Stock Options The following table summarizes stock option activity for the periods ended July 29, 2017 and July 30, 2016:
| Thirteen Weeks Ended |  |  | Thirteen Weeks Ended
| July 29, 2017 |  |  | July 30, 2016
|  |  | Weighted- Average Grant Date Fair Value |  |  |  |  | Weighted- Average Grant Date Fair Value
| Total Number of Stock Options |  |  |  | Total Number of Stock Options |
April 29, 2017 | 97,292 |  |  | $ | 6.39 |  |  | April 30, 2016 | 229,105 |  |  | $ | 8.99 |
Granted | — |  |  | — |  |  | Granted | — |  |  | — |
Exercised | (5,250 | ) |  | 5.93 |  |  | Exercised | (6,315 | ) |  | 9.28 |
Forfeited | — |  |  | — |  |  | Forfeited | — |  |  | — |
Expired | — |  |  | — |  |  | Expired | — |  |  | — |
July 29, 2017 | 92,042 |  |  | $ | 6.42 |  |  | July 30, 2016 | 222,790 |  |  | $ | 8.98 |
| Twenty-Six Weeks Ended |  |  | Twenty-Six Weeks Ended
| July 29, 2017 |  |  | July 30, 2016
|  |  | Weighted- Average Grant Date Fair Value |  |  |  |  | Weighted- Average Grant Date Fair Value
| Total Number of Stock Options |  |  |  | Total Number of Stock Options |
January 28, 2017 | 150,540 |  |  | $ | 9.36 |  |  | January 30, 2016 | 301,295 |  |  | $ | 8.95 |
Granted | — |  |  | — |  |  | Granted | — |  |  | — |
Exercised | (11,250 | ) |  | 5.74 |  |  | Exercised | (56,381 | ) |  | 7.41 |
Forfeited | — |  |  | — |  |  | Forfeited | (7,499 | ) |  | 15.94 |
Expired | (47,248 | ) |  | 15.94 |  |  | Expired | (14,625 | ) |  | 10.75 |
July 29, 2017 | 92,042 |  |  | $ | 6.42 |  |  | July 30, 2016 | 222,790 |  |  | $ | 8.98 |
Restricted Stock Units for Non-Employee Directors Equity-based grants may be made to non-employee directors in the form of cash-equivalent restricted stock units ("RSUs"). The RSUs earn dividend equivalents at the same rate as dividends on the Company's common stock. The dividend equivalents, which vest immediately, are automatically re-invested in additional RSUs. Expense is recognized at fair value when the dividend equivalents are granted. The Company granted 45,830 and 53,310 RSUs to non-employee directors, including 910 and 1,110 RSUs for dividend equivalents, during the thirteen weeks ended July 29, 2017 and July 30, 2016, respectively, with weighted-average grant date fair values of $27.84 and $21.62, respectively. The Company granted 46,712 and 54,163 RSUs, including 1,792 and 1,963 RSUs for dividend equivalents, during the twenty-six weeks ended July 29, 2017 and July 30, 2016, respectively, with weighted-average grant date fair values of $27.81 and $21.72, respectively.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=65895303&loc=d3e17540-113929 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68057994&loc=d3e25284-112666 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 + Details
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