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CHANGES IN ACCOUNTING PRINCIPLE (Notes) | 12 Months Ended
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Feb. 02, 2013
Accounting Changes and Error Corrections [Text Block] | 2. CHANGES IN ACCOUNTING PRINCIPLE During the fourth quarter of Fiscal 2012, the Company elected to change its method of accounting for inventories from the retail inventory method to the average cost method. In addition, the Company has elected to capitalize additional supply chain costs, which were previously expensed as incurred. We believe that the changes are preferable because they better reflect the value of inventory as of the balance sheet dates, provide a better reflection of periodic net income and improve comparability with our peers. The Company has applied the changes in method of inventory costing to all prior periods presented within the consolidated financial statements in accordance with accounting principles relating to accounting changes. The cumulative impact of the retrospective application of the changes in accounting principle as of January 30, 2010 was a $22.1 million increase in retained earnings. The impact of these changes in accounting principle to our income from continuing operations, net income and earnings per share for the year ended February 2, 2013 were increases of $0.5 million, $0.5 million and $0.03 respectively. The following tables detail the impact of the retrospective application on previously reported periods included in the consolidated financial statements (in thousands, except per share amounts).
CONSOLIDATED BALANCE SHEETS
January 28, 2012
| As reported | Effect of Change | As adjusted
Inventories | $ | 212,916 |  | $ | 24,870 |  | $ | 237,786 |
Deferred income taxes | 17,188 |  | (9,267 | ) | 7,921 |
Accumulated other comprehensive income | 12,685 |  | 195 |  | 12,880 |
Retained earnings | $ | 384,051 |  | $ | 15,408 |  | $ | 399,459 |
2. CHANGES IN ACCOUNTING PRINCIPLE (Continued)
CONSOLIDATED STATEMENTS OF OPERATIONS
Fiscal Year Ended
| January 28, 2012 |  | January 29, 2011
| As reported | Effect of Change | As adjusted |  | As reported | Effect of Change | As adjusted
Cost of sales | $ | 1,051,649 |  | $ | 4,564 |  | $ | 1,056,213 |  |  | $ | 1,006,752 |  | $ | 7,126 |  | $ | 1,013,878 |
Gross profit | 664,213 |  | (4,564 | ) | 659,649 |  |  | 667,247 |  | (7,126 | ) | 660,121 |
Income from continuing operations before income taxes | 109,317 |  | (4,564 | ) | 104,753 |  |  | 134,806 |  | (7,126 | ) | 127,680 |
Provision for income taxes | 32,092 |  | (1,684 | ) | 30,408 |  |  | 51,219 |  | (3,299 | ) | 47,920 |
Income from continuing operations | 77,225 |  | (2,880 | ) | 74,345 |  |  | 83,587 |  | (3,827 | ) | 79,760 |
Net income | $ | 77,225 |  | $ | (2,880 | ) | $ | 74,345 |  |  | $ | 83,124 |  | $ | (3,827 | ) | $ | 79,297 |
Basic earnings per share amounts |  |  |  |  |  |  |  |  |  |  |  |  |
Income from continuing operations | $ | 3.03 |  | (0.11 | ) | $ | 2.92 |  |  | $ | 3.09 |  | (0.15 | ) | $ | 2.94 |
Net income | $ | 3.03 |  | (0.11 | ) | $ | 2.92 |  |  | $ | 3.07 |  | (0.14 | ) | $ | 2.93 |
Diluted earnings per share amounts |  |  |  |  |  |  |  |  |  |  |  |  |
Income from continuing operations | $ | 3.01 |  | (0.11 | ) | $ | 2.90 |  |  | $ | 3.05 |  | (0.14 | ) | $ | 2.91 |
Net income | $ | 3.01 |  | (0.11 | ) | $ | 2.90 |  |  | $ | 3.03 |  | (0.14 | ) | $ | 2.89 |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Fiscal Year Ended
| January 28, 2012 |  | January 29, 2011
| As reported | Effect of Change | As adjusted |  | As reported | Effect of Change | As adjusted
Net income | $ | 77,225 |  | $ | (2,880 | ) | $ | 74,345 |  |  | $ | 83,124 |  | $ | (3,827 | ) | $ | 79,297 |
Other Comprehensive Income (Loss): |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation adjustment | (472 | ) | 53 |  | (419 | ) |  | 5,596 |  | 102 |  | 5,698 |
Comprehensive income | $ | 76,753 |  | $ | (2,827 | ) | $ | 73,926 |  |  | $ | 88,720 |  | $ | (3,725 | ) | $ | 84,995 |
2. CHANGES IN ACCOUNTING PRINCIPLE (Continued)
CONSOLIDATED STATEMENTS OF CASH FLOWS
Fiscal Year Ended
| January 28, 2012 |  | January 29, 2011
| As reported | Effect of Change | As adjusted |  | As reported | Effect of Change | As adjusted
Net income | $ | 77,225 |  | $ | (2,880 | ) | $ | 74,345 |  |  | $ | 83,124 |  | $ | (3,827 | ) | $ | 79,297 |
Reconciliation of income from continuing operations to net cash provided by operating activities of continuing operations: |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred taxes | 3,953 |  | (1,684 | ) | 2,269 |  |  | 27,473 |  | (3,299 | ) | 24,174 |
Inventories | (2,760 | ) | 4,564 |  | 1,804 |  |  | (2,476 | ) | 7,126 |  | 4,650 |
As the Company elected to change its method of accounting for inventory during the fourth quarter of Fiscal 2012, the following table shows the effect of the change on the unaudited quarterly results of operations for the first three quarters of Fiscal 2012 and the Fiscal 2011 interim periods (in thousands, except per share amounts). Refer to Note 15 for the adjusted quarterly financial information.
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
Fiscal Year Ended February 2, 2013
| First Quarter |  | Second Quarter |  | Third Quarter
| As reported | Effect of Change | As adjusted |  | As reported | Effect of Change | As adjusted |  | As reported | Effect of Change | As adjusted
Gross profit | $ | 176,918 |  | $ | 1,728 |  | $ | 178,646 |  |  | $ | 114,606 |  | $ | 98 |  | $ | 114,704 |  |  | $ | 206,246 |  | $ | 3,287 |  | $ | 209,533 |
Income (loss) from continuing operations before income taxes | 35,282 |  | 1,728 |  | 37,010 |  |  | (26,919 | ) | 98 |  | (26,821 | ) |  | 50,216 |  | 3,287 |  | 53,503 |
Provision (benefit) for income taxes | 11,690 |  | 585 |  | 12,275 |  |  | (8,930 | ) | 33 |  | (8,897 | ) |  | 15,192 |  | 1,006 |  | 16,198 |
Income (loss) from continuing operations | 23,592 |  | 1,143 |  | 24,735 |  |  | (17,989 | ) | 65 |  | (17,924 | ) |  | 35,024 |  | 2,281 |  | 37,305 |
Diluted earnings (loss) per share from continuing operations | $ | 0.96 |  | $ | 0.04 |  | $ | 1.00 |  |  | $ | (0.74 | ) | $ | — |  | $ | (0.74 | ) |  | $ | 1.44 |  | $ | 0.10 |  | $ | 1.54 |
2. CHANGES IN ACCOUNTING PRINCIPLE (Continued)
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
Fiscal Year Ended January 28, 2012
| First Quarter |  | Second Quarter
| As reported | Effect of Change | As adjusted |  | As reported | Effect of Change | As adjusted
Gross profit | $ | 183,587 |  | $ | (2,158 | ) | $ | 181,429 |  |  | $ | 116,126 |  | $ | 1,448 |  | $ | 117,574 |
Income (loss) from continuing operations before income taxes | 48,505 |  | (2,158 | ) | 46,347 |  |  | (16,092 | ) | 1,448 |  | (14,644 | )
Provision (benefit) for income taxes | 19,421 |  | (844 | ) | 18,577 |  |  | (6,315 | ) | 558 |  | (5,757 | )
Income (loss) from continuing operations | 29,084 |  | (1,314 | ) | 27,770 |  |  | (9,777 | ) | 890 |  | (8,887 | )
Diluted earnings (loss) per share from continuing operations | $ | 1.10 |  | $ | (0.05 | ) | $ | 1.05 |  |  | $ | (0.38 | ) | $ | 0.03 |  | $ | (0.35 | )
| Third Quarter |  | Fourth Quarter
| As reported | Effect of Change | As adjusted |  | As reported | Effect of Change | As adjusted
Gross profit | $ | 200,539 |  | $ | (2,513 | ) | $ | 198,026 |  |  | $ | 163,961 |  | $ | (1,341 | ) | $ | 162,620 |
Income (loss) from continuing operations before income taxes | 54,378 |  | (2,513 | ) | 51,865 |  |  | 22,526 |  | (1,341 | ) | 21,185 |
Provision (benefit) for income taxes | 20,686 |  | (958 | ) | 19,728 |  |  | (1,700 | ) | (440 | ) | (2,140 | )
Income (loss) from continuing operations | 33,692 |  | (1,555 | ) | 32,137 |  |  | 24,226 |  | (901 | ) | 23,325 |
Diluted earnings (loss) per share from continuing operations | $ | 1.33 |  | $ | (0.06 | ) | $ | 1.27 |  |  | $ | 0.97 |  | $ | (0.04 | ) | $ | 0.93 |

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- Definition The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6801783&loc=d3e22499-107794 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 1.N.Q3) -URI http://asc.fasb.org/extlink&oid=6369664&loc=d3e30840-122693 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=6801783&loc=d3e22644-107794 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 1 -Section N Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 45 -Paragraph 23 -URI http://asc.fasb.org/extlink&oid=6368906&loc=d3e21914-107793 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6801783&loc=d3e22595-107794 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 154 -Paragraph 17, 22, 25, 26 -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. + Details
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