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QUARTERLY FINANCIAL DATA | 12 Months Ended
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Feb. 01, 2020
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. The following tables reflect quarterly consolidated statements of income for the periods indicated (unaudited):
|  | Fiscal Year Ended February 1, 2020
|  | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
|  | (in thousands, except earnings per share)
Net sales |  | $ | 412,382 |  |  | $ | 420,470 |  |  | $ | 524,796 |  |  | $ | 513,019 |
Gross profit |  | 151,976 |  |  | 138,846 |  |  | 198,125 |  |  | 166,358 |
Selling, general, and administrative expenses |  | 128,006 |  |  | 116,417 |  |  | 120,514 |  |  | 113,183 |
Asset impairment charges |  | 348 |  |  | 121 |  |  | 839 |  |  | 4,731 |
Depreciation and amortization |  | 18,584 |  |  | 18,472 |  |  | 18,821 |  |  | 18,911 |
Operating income |  | 5,038 |  |  | 3,836 |  |  | 57,951 |  |  | 29,533 |
Income before provision for income taxes |  | 3,327 |  |  | 1,558 |  |  | 55,796 |  |  | 27,736 |
Provision (benefit) for income taxes |  | (1,163 | ) |  | 35 |  |  | 12,748 |  |  | 3,497 |
Net income |  | $ | 4,490 |  |  | $ | 1,523 |  |  | $ | 43,048 |  |  | $ | 24,239 |
Diluted earnings per share |  | $ | 0.28 |  |  | $ | 0.10 |  |  | $ | 2.77 |  |  | $ | 1.61 |
Diluted weighted average common shares outstanding |  | 16,107 |  |  | 15,859 |  |  | 15,546 |  |  | 15,101 |
Cash dividends declared and paid per common share |  | $ | 0.56 |  |  | $ | 0.56 |  |  | $ | 0.56 |  |  | $ | 0.56 |
|  | Fiscal Year Ended February 2, 2019
|  | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
|  | (in thousands, except earnings per share)
Net sales |  | $ | 436,314 |  |  | $ | 448,718 |  |  | $ | 522,495 |  |  | $ | 530,557 |
Gross profit |  | 160,192 |  |  | 154,806 |  |  | 204,366 |  |  | 164,232 |
Selling, general, and administrative expenses |  | 118,471 |  |  | 124,210 |  |  | 123,207 |  |  | 132,455 |
Asset impairment charges |  | 1,257 |  |  | 3,979 |  |  | 396 |  |  | 464 |
Other (income) costs |  | — |  |  | — |  |  | (1,246 | ) |  | 191 |
Depreciation and amortization |  | 17,406 |  |  | 16,595 |  |  | 17,404 |  |  | 17,479 |
Operating income |  | 23,058 |  |  | 10,022 |  |  | 64,605 |  |  | 13,643 |
Income before provision for income taxes |  | 22,761 |  |  | 9,076 |  |  | 63,774 |  |  | 12,913 |
Provision (benefit) for income taxes |  | (8,776 | ) |  | 1,590 |  |  | 13,861 |  |  | 889 |
Net income |  | $ | 31,537 |  |  | $ | 7,486 |  |  | $ | 49,913 |  |  | $ | 12,024 |
Diluted earnings per share |  | $ | 1.78 |  |  | $ | 0.45 |  |  | $ | 3.03 |  |  | $ | 0.74 |
Diluted weighted average common shares outstanding |  | 17,734 |  |  | 16,715 |  |  | 16,496 |  |  | 16,277 |
Cash dividends declared and paid per common share |  | $ | 0.50 |  |  | $ | 0.50 |  |  | $ | 0.50 |  |  | $ | 0.50 |

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- References No definition available. + Details
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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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