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QUARTERLY FINANCIAL DATA | 12 Months Ended
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Feb. 02, 2013
Quarterly Financial Information Disclosure [Abstract] |
QUARTERLY FINANCIAL DATA | QUARTERLY FINANCIAL DATA (UNAUDITED) In the opinion of management, the unaudited consolidated financial statements presented below contain all material adjustments, consisting of normal recurring accruals, necessary to present fairly the Company's financial position and results of operations and have been prepared in a manner consistent with the audited financial statements contained herein. Due to the seasonal nature of the Company's business, the results of operations in any given interim period are not indicative of operating results for a full fiscal year.
15. | QUARTERLY FINANCIAL DATA (UNAUDITED) (Continued)
The interim financial data presented below for Fiscal 2011 and the first three quarters of Fiscal 2012 have been adjusted to retrospectively adopt a change in accounting principle related to the Company's method of valuing inventory effective during the fourth quarter of Fiscal 2012. See Note 2 for the impact of the change in accounting principle on the quarterly financial information.
|  | Fiscal Year Ended February 2, 2013
|  | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter (1)
Net sales |  | $ | 438,508 |  |  | $ | 360,826 |  |  | $ | 500,928 |  |  | $ | 509,224 |
Gross profit |  | 178,645 |  |  | 114,705 |  |  | 209,533 |  |  | 188,557 |
Selling, general and administrative expenses |  | 122,283 |  |  | 120,671 |  |  | 131,875 |  |  | 136,089 |
Asset impairment charges |  | 1,250 |  |  | 280 |  |  | 539 |  |  | 215 |
Other costs |  | 834 |  |  | 3,062 |  |  | 570 |  |  | 6,622 |
Depreciation and amortization |  | 17,218 |  |  | 17,482 |  |  | 23,023 |  |  | 19,712 |
Operating income (loss) |  | 37,060 |  |  | (26,790 | ) |  | 53,526 |  |  | 25,919 |
Income (loss) from continuing operations before income taxes |  | 37,009 |  |  | (26,820 | ) |  | 53,503 |  |  | 26,003 |
Provision (benefit) for income taxes |  | 12,275 |  |  | (8,896 | ) |  | 16,198 |  |  | 6,875 |
Income (loss) from continuing operations |  | 24,734 |  |  | (17,924 | ) |  | 37,305 |  |  | 19,128 |
Diluted earnings (loss) per share from continuing operations |  | $ | 1.00 |  |  | $ | (0.74 | ) |  | $ | 1.54 |  |  | $ | 0.80 |
Diluted weighted average common shares outstanding |  | 24,691 |  |  | 24,249 |  |  | 24,293 |  |  | 23,789 |
____________________________________________ (1) Significant items impacting the fourth quarter of Fiscal 2012 include approximately $6.6 million of lease termination costs (net of anticipated sublease income) and severance related to the closing of the Northeast DC which are included in other costs in the accompanying consolidated statements of operations. The Company also recorded $2.0 million of accelerated depreciation related to the closing of the Northeast DC which is included in depreciation and amortization in the accompanying consolidated statements of operations.
|  | Fiscal Year Ended January 28, 2012
|  | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter (1)
Net sales |  | $ | 430,806 |  |  | $ | 343,508 |  |  | $ | 484,085 |  |  | $ | 457,463 |
Gross profit |  | 181,429 |  |  | 117,574 |  |  | 198,026 |  |  | 162,620 |
Selling, general and administrative expenses |  | 116,662 |  |  | 112,446 |  |  | 127,229 |  |  | 121,088 |
Asset impairment charges |  | 398 |  |  | 980 |  |  | 369 |  |  | 461 |
Depreciation and amortization |  | 17,751 |  |  | 18,478 |  |  | 18,493 |  |  | 19,851 |
Operating income (loss) |  | 46,618 |  |  | (14,330 | ) |  | 51,935 |  |  | 21,220 |
Income (loss) from continuing operations before income taxes |  | 46,347 |  |  | (14,644 | ) |  | 51,865 |  |  | 21,185 |
Provision (benefit) for income taxes |  | 18,577 |  |  | (5,757 | ) |  | 19,728 |  |  | (2,140 | )
Income (loss) from continuing operations |  | 27,770 |  |  | (8,887 | ) |  | 32,137 |  |  | 23,325 |
Diluted earnings (loss) per share from continuing operations |  | $ | 1.05 |  |  | $ | (0.35 | ) |  | $ | 1.27 |  |  | $ | 0.93 |
Diluted weighted average common shares outstanding |  | 26,387 |  |  | 25,738 |  |  | 25,279 |  |  | 25,033 |
____________________________________________
(1) | Significant items impacting the fourth quarter of Fiscal 2011 include a reversal of performance-based compensation expense of approximately $7.8 million related to operating results versus plan, an approximate $5.6 million reversal of tax provision related to the Company becoming permanently reinvested in its Asian subsidiaries, an approximate $2.2 million tax benefit related to a portion of the settlement of a tax audit, and approximately $0.9 million of accelerated depreciation associated with the early remodel of certain Canadian stores.

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=20225539&loc=d3e1280-108306 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 30 -Subparagraph a-j -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 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 23, 24 -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 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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