XML 30 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6
Related Party Transactions
 6 Months Ended
Jul. 28, 2012
Related Party Transactions [Abstract]  
Related Party Transactions

Note 7 — Related Party Transactions

In July 2009, the Company entered into an agreement with a related party vendor to purchase merchandise inventory. The vendor is considered a related party for financial reporting purposes because its principal is the spouse of the Company’s Vice President of Merchandising. During the second quarter of fiscal 2012 and 2011, purchases from this vendor totaled approximately $5.6 million, or 11% of total merchandise purchases, and $5.4 million, or 11% of merchandise purchases, respectively. During the first half of fiscal 2012 and fiscal 2011, purchases from this vendor totaled approximately $11.4 million, or 12% of total merchandise purchases, and $9.8 million, or 11% of total merchandise purchases, respectively. Included in cost of sales for the second quarter of fiscal 2012 and 2011 were $5.8 million and $4.8 million, respectively, related to this vendor. Included in cost of sales for the first half of fiscal 2012 and 2011 were $11.6 million and $9.4 million, respectively related to this vendor. Payable amounts outstanding to this vendor were approximately $1.7 million and $1.4 million as of July 28, 2012 and July 30, 2011, respectively. The Company’s payable terms with this vendor are consistent with the terms offered by other vendors in the ordinary course of business.