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STOCK-BASED COMPENSATION | 12 Months Ended
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Feb. 02, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
STOCK-BASED COMPENSATION | STOCK-BASED COMPENSATION The following table summarizes the Company’s stock-based compensation expense (in thousands):
| Fiscal Year Ended
| February 2, 2013 |  | January 28, 2012 |  | January 29, 2011
Deferred Awards | $ | 11,109 |  |  | $ | 9,109 |  |  | $ | 7,430 |
Performance Awards (1) | 3,144 |  |  | 177 |  |  | 558 |
Stock Options | — |  |  | — |  |  | 57 |
Total stock-based compensation expense (2) | $ | 14,253 |  |  | $ | 9,286 |  |  | $ | 8,045 |
____________________________________________ (1)During Fiscal 2010, the Company lowered the expected number of shares that will vest. (2) A portion of stock-based compensation is included in cost of sales. Approximately $1.7 million, $1.3 million and $1.4 million in Fiscal 2012, Fiscal 2011 and Fiscal 2010, respectively, were included in cost of sales. All other stock-based compensation is included in selling, general & administrative expense. The Company recognized a tax benefit related to stock-based compensation expense of $5.6 million, $3.7 million and $3.2 million for Fiscal 2012, Fiscal 2011 and Fiscal 2010, respectively. 4. STOCK-BASED COMPENSATION (Continued) Awards Granted During Fiscal 2012 In accordance with its amended employment agreement with its Chief Executive Officer and President, the Company granted Deferred Awards of 96,768 shares of its common stock and Performance Awards of 100,180 Target Shares if the Company meets its operating income target for Fiscal 2012. The Company granted additional Deferred Awards of 100,000 shares of its common stock to its Chief Executive Officer and President. The Deferred Awards vest over three years and the Performance Awards, if earned, cliff vest after two years. Based on the Company's operating results for Fiscal 2012, the Performance Awards were earned at 93% of the Target Shares, or 93,167 shares. Additionally, during Fiscal 2012 the Company granted Deferred Awards to employees, including new hire awards, of 302,997 shares of its common stock, and Performance Awards of 129,696 Target Shares if the Company meets its operating income target for Fiscal 2012. The Deferred Awards vest ratably over three years and the Performance Awards cliff vest after three years. Of these 129,696 Target Shares issued, 47,812 shares were forfeited. Based on the Company's operating results for Fiscal 2012, the outstanding Performance Awards were earned at 93% of the Target Shares, or 76,152 shares. During Fiscal 2012, the Company granted Deferred Awards to the non-employee members of its Board of Directors, which provide for the issuance of 18,701 shares of common stock. These awards vest after one year. At February 2, 2013, the Company had 1,687,510 shares available for grant under the Equity Plan. Changes in the Company’s Unvested Stock Awards during Fiscal 2012, Fiscal 2011 and Fiscal 2010 Deferred Awards
| Fiscal Year Ended
| February 2, 2013 |  | January 28, 2012 |  | January 29, 2011
| Number of Shares |  | Weighted Average Grant Date Fair Value |  | Number of Shares |  | Weighted Average Grant Date Fair Value |  | Number of Shares |  | Weighted Average Grant Date Fair Value
| (in thousands) |  |  |  | (in thousands) |  |  |  | (in thousands) |  |
Unvested Deferred Awards at beginning of year | 406 |  |  | $ | 47.96 |  |  | 356 |  |  | $ | 36.91 |  |  | 512 |  |  | $ | 30.34 |
Granted | 518 |  |  | 49.06 |  |  | 334 |  |  | 50.76 |  |  | 145 |  |  | 46.19 |
Vested (1) | (198 | ) |  | 45.33 |  |  | (186 | ) |  | 34.23 |  |  | (242 | ) |  | 29.51 |
Forfeited | (166 | ) |  | 49.22 |  |  | (98 | ) |  | 43.49 |  |  | (59 | ) |  | 32.98 |
Unvested Deferred Awards at end of year | 560 |  |  | $ | 49.53 |  |  | 406 |  |  | $ | 47.96 |  |  | 356 |  |  | $ | 36.91 |
____________________________________________
(1) | In Fiscal 2012, Fiscal 2011 and Fiscal 2010, the Company withheld shares of 2,200, 18,793 and 14,022, respectively, to satisfy the withholding tax requirements of certain recipients. These shares were immediately retired.
Total unrecognized stock-based compensation expense related to unvested Deferred Awards approximated $19.3 million as of February 2, 2013, which will be recognized over a weighted average period of approximately 2.1 years. 4. STOCK-BASED COMPENSATION (Continued) Performance Awards
| Fiscal Year Ended
| February 2, 2013 |  | January 28, 2012 |  | January 29, 2011
| Number of Performance Shares (1) |  | Weighted Average Grant Date Fair Value |  | Number of Performance Shares (1) |  | Weighted Average Grant Date Fair Value |  | Number of Performance Shares (1) |  | Weighted Average Grant Date Fair Value
| (in thousands) |  |  |  | (in thousands) |  |  |  | (in thousands) |  |
Unvested Performance Awards at beginning of year | 6 |  |  | $ | 46.08 |  |  | 151 |  |  | $ | 25.16 |  |  | 174 |  |  | $ | 27.65 |
Granted | 230 |  |  | 48.51 |  |  | 227 |  |  | 51.45 |  |  | 16 |  |  | 46.30 |
Vested | (2 | ) |  | 45.79 |  |  | (144 | ) |  | 24.10 |  |  | — |  |  | — |
Net shares in excess of (less than) target | (13 | ) |  | 51.40 |  |  | (198 | ) |  | 51.26 |  |  | (11 | ) |  | 88.19 |
Forfeited | (49 | ) |  | 47.37 |  |  | (30 | ) |  | 52.49 |  |  | (28 | ) |  | 28.43 |
Unvested Performance Awards at end of year | 172 |  |  | $ | 48.59 |  |  | 6 |  |  | $ | 46.08 |  |  | 151 |  |  | $ | 25.16 |
____________________________________________
(1) | For those awards in which the performance period is complete, the number of unvested shares is based on actual shares that will vest upon completion of the service period. At February 2, 2013, there were no open performance periods.
Based on the current number of Performance Awards expected to be earned, the total unrecognized stock-based compensation expense related to unvested Performance Awards approximated $4.8 million as of February 2, 2013, which will be recognized over a weighted average period of approximately 1.7 years. Stock Options No stock options were issued during Fiscal 2012, Fiscal 2011 and Fiscal 2010 and at February 2, 2013, there were no unvested stock options. Outstanding Stock Options Changes in the Company’s outstanding stock options for Fiscal 2012 were as follows:
|  | Fiscal Year Ended
|  | February 2, 2013 |  | January 28, 2012 |  | January 29, 2011
|  | Number of Options |  | Weighted Average Exercise Price |  | Number of Options |  | Weighted Average Exercise Price |  | Number of Options |  | Weighted Average Exercise Price
|  | (in thousands) |  |  |  | (in thousands) |  |  |  | (in thousands) |  |
Options outstanding at beginning of year |  | 154 |  |  | $ | 30.98 |  |  | 351 |  |  | $ | 33.93 |  |  | 731 |  |  | $ | 33.22 |
Granted |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Exercised (1) |  | (68 | ) |  | 32.03 |  |  | (188 | ) |  | 36.21 |  |  | (366 | ) |  | 32.57 |
Forfeited |  | (2 | ) |  | 12.07 |  |  | (9 | ) |  | 37.09 |  |  | (14 | ) |  | 33.97 |
Options outstanding at end of year (2) |  | 84 |  |  | $ | 30.08 |  |  | 154 |  |  | $ | 30.98 |  |  | 351 |  |  | $ | 33.93 |
Options exercisable at end of year (2) |  | 84 |  |  | $ | 30.08 |  |  | 154 |  |  | $ | 30.98 |  |  | 335 |  |  | $ | 34.35 |
____________________________________________
(1) | The aggregate intrinsic value of options exercised was approximately $1.3 million, $2.7 million and $5.4 million for Fiscal 2012, Fiscal 2011 and Fiscal 2010, respectively.
(2) | The aggregate intrinsic value of options outstanding and exercisable at the end of Fiscal 2012, Fiscal 2011 and Fiscal 2010 was approximately $1.6 million, $2.9 million and $3.3 million, respectively.
4. STOCK-BASED COMPENSATION (Continued) The following table summarizes information regarding options outstanding at February 2, 2013 (options in thousands):
|  |  |  | Options Outstanding and Exercisable
Range of Exercise Prices |  |  | Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life
$8.98 | $21.63 |  |  | 9 |  |  | $ | 17.13 |  |  | 3.6
$22.02 | $31.63 |  |  | 54 |  |  | 27.00 |  |  | 3.9
$31.89 | $42.15 |  |  | 8 |  |  | 37.42 |  |  | 2.0
$44.12 | $50.81 |  |  | 13 |  |  | 47.69 |  |  | 2.6
|  |  |  | 84 |  |  | $ | 30.08 |  |  | 3.5

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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 SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 Reference 2: 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 3: 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=6406099&loc=d3e25284-112666 Reference 4: 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 5: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Statement of Position (SOP) -Number 93-6 -Paragraph 53 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: 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=6418621&loc=d3e17540-113929 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 123R -Paragraph 64, 65, A240 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 8: 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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