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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Feb. 03, 2018	Apr. 03, 2018	Jul. 29, 2017
Document and Entity Information
Entity Registrant Name	Citi Trends Inc
Entity Central Index Key	0001318484
Document Type	10-K
Document Period End Date	Feb. 03, 2018
Amendment Flag	false
Current Fiscal Year End Date	--02-03
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 283,782,706
Entity Common Stock, Shares Outstanding		13,760,229
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	FY

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Feb. 03, 2018	Jan. 28, 2017
Current assets:
Cash and cash equivalents	$ 48,451	$ 49,253
Short-term investment securities	31,500	38,026
Inventory	137,701	134,649
Prepaid and other current assets	15,694	13,749
Income tax receivable		1,635
Total current assets	233,346	237,312
Property and equipment, net	61,777	59,280
Long-term investment securities	25,451	26,691
Deferred tax asset	5,777	8,506
Other assets	720	725
Total assets	327,071	332,514
Current liabilities:
Accounts payable	75,947	75,433
Accrued expenses	13,762	15,584
Accrued compensation	17,013	8,921
Income tax payable	1,916
Layaway deposits	532	471
Total current liabilities	109,170	100,409
Other long-term liabilities	8,433	8,514
Total liabilities	117,603	108,923
Stockholders' equity:
Common stock, $0.01 par value. Authorized 32,000,000 shares; 15,777,946 shares issued as of February 3, 2018 and 15,732,339 shares issued as of January 28, 2017; 13,743,776 shares outstanding as of February 3, 2018 and 14,899,151 shares outstanding as of January 28, 2017	156	155
Paid in capital	90,605	90,036
Retained earnings	158,927	148,585
Treasury stock, at cost; 2,034,170 shares held as of February 3, 2018 and 833,188 shares held as of January 28, 2017	(40,220)	(15,185)
Total stockholders' equity	209,468	223,591
Total liabilities and stockholders' equity	$ 327,071	$ 332,514

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Feb. 03, 2018	Jan. 28, 2017
Consolidated Balance Sheets
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized shares	32,000,000	32,000,000
Common stock, shares issued	15,777,946	15,732,339
Common stock, shares outstanding	13,743,776	14,899,151
Treasury stock, shares	2,034,170	833,188

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Consolidated Statements of Operations
Net sales	$ 755,241	$ 695,175	$ 683,791
Cost of sales (exclusive of depreciation shown separately below)	(466,022)	(428,167)	(416,779)
Selling, general and administrative expenses	(247,062)	(230,666)	(224,218)
Depreciation	(18,883)	(17,090)	(18,577)
Asset impairment	(507)	(313)
Income (loss) from operations	22,767	18,939	24,217
Interest income	883	571	339
Interest expense	(150)	(159)	(242)
Income (loss) before income taxes	23,500	19,351	24,314
Income tax (expense) benefit	(8,926)	(6,020)	(8,787)
Net income (loss)	$ 14,574	$ 13,331	$ 15,527
Basic net income (loss) per common share	$ 1.04	$ 0.91	$ 1.04
Diluted net income (loss) per common share	$ 1.03	$ 0.91	$ 1.03
Weighted average number of shares outstanding
Basic	14,058,008	14,656,753	14,996,496
Diluted	14,115,895	14,662,272	15,055,538

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Operating activities:
Net income	$ 14,574	$ 13,331	$ 15,527
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	18,883	17,090	18,577
Asset impairment	507	313
Deferred income taxes	2,729	1,482	699
Loss on disposal of property and equipment	130	290	31
Insurance proceeds related to operating activities	1,349	847
Noncash stock-based compensation expense	1,632	2,923	4,148
Excess tax benefits from stock-based payment arrangements		(168)	(1,312)
Changes in assets and liabilities:
Inventory	(3,948)	1,665	(5,963)
Prepaid and other current assets	(2,398)	(1,689)	2,403
Other assets	5	(20)	(67)
Accounts payable	230	8,009	(5,000)
Accrued expenses and other long-term liabilities	(3,093)	54	(568)
Accrued compensation	8,092	(4,176)	(1,899)
Income tax payable/receivable	3,551	(182)	1,000
Layaway deposits	61	(26)	(88)
Net cash provided by operating activities	42,304	39,743	27,488
Investing activities:
Purchases of investment securities	(37,654)	(44,882)	(44,310)
Sales/redemptions of investment securities	45,420	43,726	19,046
Purchases of property and equipment	(20,986)	(23,932)	(19,601)
Insurance proceeds related to investing activities	443	421
Net cash used in investing activities	(12,777)	(24,667)	(44,865)
Financing activities:
Excess tax benefits from stock-based payment arrangements		168	1,312
Cash used to settle withholding taxes on stock option exercises and the vesting of nonvested restricted stock	(1,062)	(1,594)	(2,586)
Proceeds from the exercise of stock options			70
Dividends paid to stockholders	(4,232)	(3,513)	(1,797)
Repurchase of common stock	(25,035)		(15,020)
Net cash used in financing activities	(30,329)	(4,939)	(18,021)
Net (decrease) increase in cash and cash equivalents	(802)	10,137	(35,398)
Cash and cash equivalents:
Beginning of year	49,253	39,116	74,514
End of year	48,451	49,253	39,116
Supplemental disclosures of cash flow information:
Cash paid for interest	127	127	127
Cash payments of income taxes	2,646	4,720	7,088
Supplemental disclosures of noncash investing activities:
Accrual for purchases of property and equipment	$ 1,474	$ 2,830	$ 2,036

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock	Paid in Capital	Retained Earnings	Treasury Stock	Total
Balances at Jan. 31, 2015	$ 152	$ 85,598	$ 125,037	$ (165)	$ 210,622
Balances (in shares) at Jan. 31, 2015	15,743,617			165,750
Increase (Decrease) in Stockholders' Equity
Exercise of stock options		70			70
Exercise of stock options (in shares)	5,000
Vesting of nonvested shares and restricted stock units	$ 3				3
Vesting of nonvested shares and restricted stock units (in shares)	6,135
Excess tax benefits from stock based payment arrangements		1,312			1,312
Issuance of nonvested shares to employees and directors under incentive plan (in shares)	68,607
Forfeiture of nonvested shares by employees and directors (in shares)	(14,591)
Stock-based compensation expense		4,148			4,148
Net share settlement of nonvested shares	$ (1)	(2,588)			(2,589)
Net share settlement of nonvested shares (in shares)	(100,909)
Repurchase of common stock				$ (15,020)	(15,020)
Repurchase of common stock (in shares)				667,438
Dividends paid to stockholders			(1,839)		(1,839)
Net income			15,527		15,527
Balances at Jan. 30, 2016	$ 154	88,540	138,725	$ (15,185)	212,234
Balances (in shares) at Jan. 30, 2016	15,707,859			833,188
Increase (Decrease) in Stockholders' Equity
Vesting of nonvested shares and restricted stock units	$ 2				2
Excess tax benefits from stock based payment arrangements		168			168
Issuance of nonvested shares to employees and directors under incentive plan (in shares)	134,710
Forfeiture of nonvested shares by employees and directors (in shares)	(25,018)
Stock-based compensation expense		2,923			2,923
Net share settlement of nonvested shares	$ (1)	(1,595)			(1,596)
Net share settlement of nonvested shares (in shares)	(85,212)
Dividends paid to stockholders			(3,471)		(3,471)
Net income			13,331		13,331
Balances at Jan. 28, 2017	$ 155	90,036	148,585	$ (15,185)	$ 223,591
Balances (in shares) at Jan. 28, 2017	15,732,339			833,188	15,732,339
Increase (Decrease) in Stockholders' Equity
Vesting of nonvested restricted stock units	$ 2				$ 2
Vesting of nonvested shares and restricted stock units (in shares)	12,982
Issuance of nonvested shares to employees and directors under incentive plan (in shares)	118,676
Forfeiture of nonvested shares by employees and directors (in shares)	(31,303)
Stock-based compensation expense		1,632			1,632
Net share settlement of nonvested shares	$ (1)	(1,063)			(1,064)
Net share settlement of nonvested shares (in shares)	(54,748)
Repurchase of common stock				$ (25,035)	(25,035)
Repurchase of common stock (in shares)				1,200,982
Dividends paid to stockholders			(4,232)		(4,232)
Net income			14,574		14,574
Balances at Feb. 03, 2018	$ 156	$ 90,605	$ 158,927	$ (40,220)	$ 209,468
Balances (in shares) at Feb. 03, 2018	15,777,946			2,034,170	15,777,946

Organization and Business	12 Months Ended
Organization and Business	Feb. 03, 2018
Organization and Business
Organization and Business	Citi Trends, Inc. Notes to Consolidated Financial Statements February 3, 2018, January 28, 2017 and January 30, 2016 (1) Organization and Business Citi Trends, Inc. and its subsidiary (the “Company”) operate as a value-priced retailer of urban fashion apparel and accessories for the entire family. As of February 3, 2018, the Company operated 549 stores in 31 states.

Summary of Significant Accounting Policies

12 Months Ended

Feb. 03, 2018

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

(2) Summary of Significant Accounting Policies

(a) Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary. All intercompany transactions and balances have been eliminated in consolidation.

(b) Fiscal Year

The Company’s fiscal year ends on the Saturday closest to January 31 of each year. The years ended February 3, 2018, January 28, 2017 and January 30, 2016 are referred to as fiscal 2017, fiscal 2016 and fiscal 2015, respectively, in the accompanying consolidated financial statements. Fiscal year 2017 is comprised of 53 weeks, while fiscal years 2016 and 2015 are each comprised of 52 weeks.

For purposes of the consolidated balance sheets and consolidated statements of cash flows, the Company considers all highly liquid investments with maturities at date of purchase of three months or less to be cash equivalents. Financial instruments that potentially subject the Company to a concentration of credit risk consist principally of cash and cash equivalents. The Company places its cash and cash equivalents in what it believes to be high credit quality banks and institutional money market funds. The Company maintains cash accounts that exceed federally insured limits.

(d) Inventory

Inventory is stated at the lower of cost (first-in, first-out basis) or market as determined by the retail inventory method for store inventory and the average cost method for distribution center inventory. Under the retail inventory method, the cost of inventory is determined by calculating a cost-to-retail ratio and applying it to the retail value of inventory. Merchandise markdowns are reflected in the inventory valuation when the retail price of an item is lowered in the stores. Inventory is recorded net of an allowance for shrinkage based on the most recent physical inventory counts.

(e) Property and Equipment, net

Property and equipment, net are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the lesser of the estimated useful lives (primarily three to five years for computer equipment and furniture, fixtures and equipment, five years for leasehold improvements, seven years for major purchased software systems, and fifteen to twenty years for buildings and building improvements) of the related assets or the relevant lease term.

(f) Impairment of Long-Lived Assets

If facts and circumstances indicate that a long-lived asset may be impaired, the carrying value is reviewed. If this review indicates that the carrying value of the asset will not be recovered as determined based on projected undiscounted cash flows related to the asset over its remaining life, the carrying value of the asset is reduced to its estimated fair value. Non-cash impairment expense related primarily to leasehold improvements and fixtures and equipment at underperforming stores totaled $0.5 million, $0.3 million and $0.0 million in fiscal 2017, 2016 and 2015, respectively.

(g) Insurance Liabilities

The Company is largely self-insured for workers’ compensation costs and employee medical claims. The Company’s self-insured retention or deductible, as applicable, for each claim involving workers’ compensation and employee medical is limited to $250,000 and $100,000, respectively. Self-insurance liabilities are based on the total estimated costs of claims filed and estimates of claims incurred but not reported, less amounts paid against such claims. Current and historical claims data, together with information from actuarial studies, are used in developing the estimates. The insurance liabilities that are recorded are primarily influenced by the frequency and severity of claims and the Company’s growth. If the underlying facts and circumstances related to the claims change, then the Company may be required to record more or less expense which could be material in relation to results of operations.

(h) Stock-Based Compensation

The Company recognizes compensation expense associated with all nonvested restricted stock and restricted stock units based on an estimate of the grant-date fair value of each equity award. Grants of time-based nonvested restricted stock are valued based on the closing stock price on the grant date, while grants of performance-based restricted stock units are valued at an estimate of fair market value using a lattice model. See Note 8 for additional information on the Company’s stock-based compensation plans.

(i) Revenue Recognition

Revenue from retail sales, net of sales taxes, is recognized at the time the customer takes possession of and pays for merchandise, less an allowance for returns. The Company allows customers to return merchandise for up to thirty days after the date of sale and the Company reduces revenues for each fiscal year using a combination of actual and estimated return information for the returns in the thirty days after the year ends. The sales returns allowance and related changes were not significant for 2017 or 2016. Revenue from layaway sales is recognized when the customer has paid for and received the merchandise. If the merchandise is not fully paid for within sixty days, the customer is given a store credit for merchandise payments made, less a re-stocking and layaway service fee. Such fees, which are non-refundable, are recognized in revenue when collected. Proceeds from the sale of gift cards are deferred until the customers use the cards to purchase merchandise. No amounts have yet been amortized into income for gift cards that were sold and are not expected to be redeemed (“breakage”) due to the relative immateriality of the total gift card liability ($1.0 million as of February 3, 2018 and $0.8 million as of January 28, 2017) and requirements to escheat certain amounts to the state in which the gift card subsidiary is incorporated. All sales are from cash, check or major credit card company transactions. The Company does not offer company-sponsored customer credit accounts.

(j) Cost of Sales

Cost of sales includes the cost of inventory sold during the period and transportation costs, including inbound freight related to inventory sold and freight from the distribution centers to the stores, net of discounts and allowances. Distribution center costs, store occupancy expenses and advertising expenses are not considered components of cost of sales and are included as part of selling, general and administrative expenses. Depreciation is also not considered a component of cost of sales and is included as a separate line item in the consolidated statements of operations. Distribution center costs (exclusive of depreciation) for fiscal 2017, 2016 and 2015 were $17.4 million, $17.2 million and $15.7 million, respectively.

(k) Earnings per Share

Basic earnings per common share amounts are calculated using the weighted average number of common shares outstanding for the period. Diluted earnings per common share amounts are calculated using the weighted average number of common shares outstanding plus the additional dilution for all potentially dilutive securities, such as nonvested restricted stock and stock options. During loss periods, diluted loss per share amounts are based on the weighted average number of common shares outstanding because the inclusion of common stock equivalents would be antidilutive.

The following table provides a reconciliation of the number of average common shares outstanding used to calculate basic earnings per share to the number of common shares and common stock equivalents outstanding used in calculating diluted earnings per share for fiscal 2017, 2016 and 2015:


	2017	2016	2015
Average number of common shares outstanding	14,058,008	14,656,753	14,996,496
Incremental shares from assumed exercises of stock options	—	—	193
Incremental shares from assumed vesting of nonvested restricted stock	57,887	5,519	58,849
Average number of common shares and common stock equivalents outstanding	14,115,895	14,662,272	15,055,538

The dilutive effect of stock-based compensation arrangements is accounted for using the treasury stock method. This method assumes that the proceeds the Company receives from the exercise of stock options are used to repurchase common shares in the market. Prior to the adoption of ASU No. 2016-09, Compensation-Stock Compensation: Improvements to Employee Share-Based Payment Accounting, in the first quarter of fiscal 2017, the Company included as assumed proceeds the amount of compensation costs attributed to future services and not yet recognized, and the amount of tax benefits, if any, that would be credited to additional paid-in capital assuming exercise of outstanding options and vesting of nonvested restricted stock. Following the adoption of ASU No. 2016-09, the assumed proceeds include only the amount of compensation costs attributed to future services and not yet recognized but does not include any tax benefits arising from the assumed exercise of outstanding options and the vesting of nonvested restricted stock. For fiscal 2017, 2016 and 2015, respectively, there were 0, 4,000 and 19,000 options outstanding to purchase shares of common stock excluded from the calculation of diluted earnings per share because of antidilution. For fiscal 2017, 2016 and 2015, respectively, there were 125,000, 237,000 and 332,000 shares of nonvested restricted stock, respectively, excluded from the calculation of diluted earnings per share because of antidilution.

(l) Advertising

The Company expenses advertising as incurred. Advertising expense for fiscal 2017, 2016 and 2015 was $2.0 million, $2.5 million and $2.6 million, respectively.

(m) Operating Leases

The Company leases all of its store properties and accounts for the leases as operating leases. Many lease agreements contain tenant improvement allowances, rent holidays, rent escalation clauses and/or contingent rent provisions. For purposes of recognizing incentives and minimum rent expense on a straight-line basis over the terms of the leases, the Company uses the date of initial possession to begin amortization, which is generally when the Company enters the space and begins to make improvements in preparation of intended use.

For scheduled rent escalation clauses during the lease terms or for rental payments commencing “rent holidays” at a date other than the date of initial occupancy, the Company records minimum rent expense on a straight-line basis over the terms of the leases. Tenant improvement allowances are included in accrued expenses (current portion) and other long-term liabilities (noncurrent portion) and are amortized over the lease term. Changes in the balances of tenant improvement allowances are included as a component of operating activities in the consolidated statements of cash flows.

Certain leases provide for contingent rents that are not measurable at inception. These contingent rents are primarily based on a percentage of net sales that are in excess of a predetermined level. These amounts are excluded from minimum rent and are included in the determination of total rent expense when it is probable that the expense has been incurred and the amount is reasonably estimable.

The Company is required to recognize a liability for the fair value of a conditional asset retirement obligation when incurred if the liability’s fair value can be reasonably estimated. The Company included a liability of $0.8 million as of February 3, 2018 and January 28, 2017 in other long-term liabilities, representing estimated expenses that would be incurred upon the termination of the Company’s operating leases.

(n) Store Opening and Closing Costs

New and relocated store opening period costs are charged directly to expense when incurred. When the Company decides to close or relocate a store, the Company records an expense for the present value of expected future rent payments, net of sublease income, if any, in the period that a store closes or relocates. All store opening and closing costs are included in selling, general and administrative expenses.

(o) Income Taxes

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

(p) Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and use assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

The most significant estimates made by management include those used in the valuation of inventory, property and equipment, self-insurance liabilities, leases and income taxes. Management periodically evaluates estimates used in the preparation of the consolidated financial statements for continued reasonableness. Appropriate adjustments, if any, to the estimates used are made prospectively based on such periodic evaluations.

(q) Business Reporting Segments

The Company is a value-priced retailer of urban fashion apparel and accessories for the entire family. The retail operations represent a single operating segment based on the way the Company manages its business. Operating decisions and resource allocation decisions are made at the Company level in order to maintain a consistent retail store presentation. The Company’s retail stores sell similar products, use similar processes to sell those products, and sell their products to similar classes of customers. All sales and assets are located within the United States. The Company’s merchandise assortment by classification as a percentage of net sales for fiscal 2017, 2016 and 2015 is as follows:


	Percentage of Net Sales
	2017		2016		2015
Accessories	32	%	31	%	30	%
Ladies’	23	%	24	%	24	%
Children’s	23	%	23	%	25	%
Men’s	17	%	17	%	17	%
Home	5	%	5	%	4	%

(r) Recent Accounting Pronouncements

In May 2014 the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”). The guidance requires an entity to recognize revenue on contracts with customers relating to the transfer of promised goods or services in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve this, an entity is required to identify the contract with a customer; identify the separate performance obligations in the contract; determine the transaction price; allocate the transaction price to the separate performance obligations in the contract; and recognize revenue when (or as) the entity satisfies each performance obligation. In August of 2015, the FASB issued ASU 2015-14 which defers the effective date of ASU 2014-09 to annual reporting periods beginning after December 15, 2017 and interim periods in the year of adoption. The Company may use either a full retrospective or modified retrospective approach to adopt these ASUs. The Company will adopt ASU 2014-09 in fiscal 2018 beginning February 4, 2018 using the modified retrospective approach. The Company’s primary source of revenue is derived from the sale of clothing and accessories to its customers with the Company’s performance obligations satisfied immediately when the customer pays for their purchase and receives the merchandise. As such, adoption of the new standard will not have a material impact on the Company’s consolidated balance sheet, results of operations or cash flows. Additionally, the Company does not anticipate significant changes to business processes, controls, systems or disclosures as a result of adopting the new standard.

In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory (“ASU 2015-11”). ASU 2015-11 requires entities to measure inventory at the lower of cost or net realizable value, simplifying the current requirement that inventories be measured at the lower of cost or market. The ASU does not apply to inventories that are measured using the last-in, first-out method or retail inventory method. The guidance was effective prospectively for annual periods, and interim periods within those annual periods, that began after December 15, 2016. The Company adopted ASU 2015-11 in the first quarter of 2017. As the majority of the Company's inventory is accounted for under the retail inventory method, the adoption of this guidance did not have a material impact on the Company's consolidated balance sheet, results of operations or cash flows.

In February 2016, the FASB issued ASU No. 2016-02, Leases (“ASU 2016–02”) which replaces the existing guidance in ASC 840, Leases. The new standard establishes a right-of-use model that requires a lessee to record a right-of-use asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the statement of operations. The guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, and requires a modified retrospective transition approach. The Company will adopt ASU 2016-02 in fiscal 2019. The Company is currently in the process of evaluating the new lease guidance to determine the ultimate impact, but anticipates the new standard will result in significant right of use assets and related liabilities associated with its operating leases. All of the Company’s retail store locations are subject to operating lease arrangements. Being party to 549 leases for individual retail locations with an average remaining contractual rent period of 3.0 years, the Company has determined that the adoption of the new lease standard will have a significant impact on the Company’s consolidated balance sheet and disclosures.

In March 2016, the FASB issued ASU No. 2016-09, Compensation — Stock Compensation: Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”). The new guidance changes how companies account for certain aspects of share-based payments to employees. Under previous accounting guidance, tax benefits and certain tax deficiencies arising from the vesting of share-based payments were recorded in additional paid-in-capital. The new guidance requires such benefits or deficiencies to be recognized as components of income tax expense in the statement of operations. The ASU also allows election of an accounting policy whereby forfeitures of share-based payment awards are recognized as they occur, or alternatively, are accounted for on a prospective basis utilizing an estimate of expected forfeitures. Entities are required to apply the new guidance prospectively. The new standard was effective for fiscal years beginning after December 15, 2016. The Company adopted ASU 2016-09 in the first quarter of fiscal 2017 and elected to recognize the impact of forfeitures as they occur. These impacts on the Company’s consolidated balance sheet, results of operations and cash flows were immaterial. Future impacts will be dependent on the volume of vestings of restricted stock and changes in the Company's stock price.

Property and Equipment, net

12 Months Ended

Feb. 03, 2018

Property and Equipment, net

Property and Equipment, net

(3) Property and Equipment, net

The components of property and equipment as of February 3, 2018 and January 28, 2017 are as follows (in thousands):


	February 3,		January 28,
	2018		2017
Land	$	479	$	478
Buildings		30,540		23,996
Leasehold improvements		93,653		88,585
Furniture, fixtures and equipment		127,816		118,105
Computer equipment		37,115		34,663
Construction in progress		1,873		6,195
		291,476		272,022
Accumulated depreciation		(229,699)		(212,742)
	$	61,777	$	59,280

Fair Value Measurements

12 Months Ended

Feb. 03, 2018

Fair Value Measurements

Fair Value Measurements

(4) Fair Value Measurements

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal or most advantageous market at the measurement date. Fair value is established according to a hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described below:

Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs.

Level 2: Observable prices that are based on inputs not quoted on active markets, but corroborated by market data.

Level 3: Unobservable inputs are used when little or no market data is available. Level 3 inputs are given the lowest priority in the fair value hierarchy.

As of February 3, 2018, the Company’s investment securities are classified as held-to-maturity since the Company has the intent and ability to hold the investments to maturity. Such securities are carried at amortized cost plus accrued interest and consist of the following (in thousands):


			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair Market
	Cost		Gains		Losses		Value
Short-term:
Obligations of the U.S. Treasury and U.S. government agencies (Level 1)	$	10,162	$	—	$	(25)	$	10,137
Obligations of states and municipalities (Level 2)		8,111		1		(2)		8,110
Bank certificates of deposit (Level 2)		13,227		—		—		13,227
	$	31,500	$	1	$	(27)	$	31,474
Long-term:
Obligations of the U. S. Treasury (Level 1)	$	9,967	$	—	$	(116)	$	9,851
Bank certificates of deposit (Level 2)		15,484		—		—		15,484
	$	25,451	$	—	$	(116)	$	25,335

The amortized cost and fair market value of investment securities as of February 3, 2018 by contractual maturity are as follows (in thousands):


			Fair
	Amortized		Market
	Cost		Value
Mature in one year or less	$	31,500	$	31,474
Mature after one year through five years		25,451		25,335
	$	56,951	$	56,809

As of January 28, 2017, the Company’s investment securities were classified as held-to-maturity and consisted of the following (in thousands):


			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair Market
	Cost		Gains		Losses		Value
Short-term:
Obligations of the U. S. Treasury (Level 1)	$	9,995	$	1	$	—	$	9,996
Obligations of states and municipalities (Level 2)		14,816		2		(1)		14,817
Bank certificates of deposit (Level 2)		13,215		—		—		13,215
	$	38,026	$	3	$	(1)	$	38,028
Long-term:
Obligations of the U. S. Treasury (Level 1)	$	15,011	$	—	$	(51)	$	14,960
Bank certificates of deposit (Level 2)		11,680		—		—		11,680
	$	26,691	$	—	$	(51)	$	26,640

The amortized cost and fair market value of investment securities as of January 28, 2017 by contractual maturity were as follows (in thousands):


			Fair
	Amortized		Market
	Cost		Value
Mature in one year or less	$	38,026	$	38,028
Mature after one year through five years		26,691		26,640
	$	64,717	$	64,668

There were no changes among the levels in the three fiscal years ended February 3, 2018.

Fair market values of Level 2 investments are determined by management with the assistance of a third party pricing service. Since quoted prices in active markets for identical assets are not available, these prices are determined by the third party pricing service using observable market information such as quotes from less active markets and quoted prices of similar securities.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Revolving Line of Credit	12 Months Ended
Revolving Line of Credit	Feb. 03, 2018
Revolving Line of Credit
Revolving Line of Credit	(5) Revolving Line of Credit On October 27, 2011, the Company entered into a five-year, $50 million credit facility with Bank of America. The facility was amended on August 18, 2015, extending the maturity date to August 18, 2020. The amended facility provides a $50 million credit commitment and a $25 million uncommitted “accordion” feature that under certain circumstances could allow the Company to increase the size of the facility to $75 million. Borrowings, if any, under the facility will bear interest (a) for LIBOR Rate Loans, at LIBOR plus either 1.25% or 1.5%, or (b) for Base Rate Loans, at a rate equal to the highest of (i) the prime rate plus either 0.25% or 0.5%, (ii) the Federal Funds Rate plus either 0.75% or 1.0%, or (iii) LIBOR plus either 1.25% or 1.5%, based in any such case on the average daily availability for borrowings under the facility. The facility continues to be secured by the Company’s inventory, accounts receivable and related assets, but not its real estate, fixtures and equipment, and it contains one financial covenant, a fixed charge coverage ratio, which is applicable and tested only in certain circumstances. The facility has an unused commitment fee of 0.25% and permits the payment of cash dividends subject to certain limitations, including a requirement that there were no borrowings outstanding in the 30 days prior to the dividend payment and no borrowings are expected in the 30 days subsequent to the payment. The Company has had no borrowings under the credit facility.

Income Taxes

12 Months Ended

Feb. 03, 2018

Income Taxes

Income Taxes

(6) Income Taxes

Income tax expense for fiscal 2017, 2016 and 2015 consists of the following (in thousands):


	2017		2016		2015
Current:
Federal	$	(5,249)	$	(3,759)	$	(6,805)
State		(948)		(779)		(1,283)
Total current		(6,197)		(4,538)		(8,088)
Deferred:
Federal		(3,078)		(1,541)		(806)
State		349		59		107
Total deferred		(2,729)		(1,482)		(699)
Total income tax expense	$	(8,926)	$	(6,020)	$	(8,787)

Income tax expense computed using the federal statutory rate is reconciled to the reported income tax expense as follows for fiscal 2017, 2016 and 2015 (in thousands):


	2017		2016		2015
Statutory rate applied to income before income taxes	$	(7,924)	$	(6,773)	$	(8,510)
Revaluation of net deferred tax assets due to the Tax Cuts and Jobs Act		(1,925)		—		—
State income taxes, net of federal benefit		(549)		(903)		(950)
State tax credits		252		226		186
State tax credits - valuation allowance (net of federal benefit)		(79)		—		—
Tax exempt interest		24		20		6
General business credits		1,273		1,605		978
Excess compensation		—		—		(263)
Excess tax benefits from stock based compensation		70		—		—
Other		(68)		(195)		(234)
Income tax expense	$	(8,926)	$	(6,020)	$	(8,787)

The components of deferred tax assets and deferred tax liabilities as of February 3, 2018 and January 28, 2017 are as follows (in thousands):


	February 3,		January 28,
	2018		2017
Deferred tax assets:
Deferred rent amortization	$	558	$	722
Inventory capitalization		1,863		2,895
Federal jobs credits		—		95
Book and tax depreciation differences		312		526
Vacation liability		585		921
State tax credits		2,676		2,161
Stock compensation		834		1,340
Legal expense reserve		73		407
Insurance liabilities		537		845
Other		342		481
Subtotal deferred tax assets		7,780		10,393
Less: State tax credits valuation allowance - net		(1,624)		(1,272)
Total deferred tax assets		6,156		9,121

Deferred tax liabilities:
Prepaid expenses		(379)		(615)
Total deferred tax liabilities		(379)		(615)
Net deferred tax asset	$	5,777	$	8,506

The Company files income tax returns in U.S. federal and state jurisdictions where it does business and is subject to examinations by the Internal Revenue Service (“IRS”) and other taxing authorities. With a few exceptions, the Company is no longer subject to U.S. federal and state income tax examinations by tax authorities for years prior to fiscal 2012. The Company reviews and assesses uncertain tax positions, if any, with recognition and measurement of tax benefit based on a “more-likely-than-not” standard with respect to the ultimate outcome, regardless of whether this assessment is favorable or unfavorable. As of February 3, 2018, there were no benefits taken on the Company’s income tax returns that do not qualify for financial statement recognition. If a tax position does not meet the minimum statutory threshold to avoid payment of penalties and interest, a company is required to recognize an expense for the amount of the interest and penalty in the period in which the company claims or expects to claim the position on its tax return. For financial statement purposes, companies are allowed to elect whether to classify such charges as either income tax expense or another expense classification. Should such expense be incurred in the future, the Company will classify such interest as a component of interest expense and penalties as a component of income tax expense.

In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are deductible and income tax credits may be utilized, management believes it is more likely than not that the Company will realize the benefits of these deductible differences with the exception of certain tax credits available in one state. Beginning in 2011, the Company concluded that its ability to utilize a portion of such state’s tax credits was no longer more likely than not. Such recognition resulted in the establishment of a valuation allowance which necessitated a charge to income tax expense and a reduction in deferred tax assets. Subsequent to 2011, the Company has continued to earn such state credits and has further adjusted the related valuation allowance. At February 3, 2018, the valuation allowance, net of federal tax benefit, totaled $1.6 million.

The effective income tax rate for fiscal 2017, 2016 and 2015 included the recognition of benefits arising from various federal and state tax credits. Under current IRS and state income tax regulations, these credits may be carried back for one year or carried forward for periods up to 20 years. The income tax benefit included $1.3 million related to such credits in fiscal 2017, $1.8 million related to such credits in fiscal 2016 and $1.2 million related to such credits in fiscal 2015.

On December 22, 2017, the President of the United States signed into law the Tax Cuts and Jobs Act tax reform legislation. The legislation was effective January 1, 2018 and made significant changes to U.S. tax law including a reduction in the corporate income tax rate, changes to net operating loss carryforwards and carrybacks, and a repeal of the corporate alternative minimum tax. The legislation reduced the federal statutory tax rate from 35% to 21% and required corporations with fiscal years spanning periods before and after the effective date to use a blended federal tax rate for fiscal years which include January 1, 2018. As a result of the provision requiring a blended rate, the Company’s federal statutory rate was reduced from 35% to 33.7% with a commensurate reduction in income tax expense of $0.3 million for fiscal year 2017. In addition, the Company was required to revalue its deferred tax assets and liabilities to reflect the reduced federal income tax rate expected to be in effect at the time of future reversals. Such revaluation resulted in the reduction of net deferred tax assets and a charge to income tax expense in the fourth quarter of $1.9 million. The other provisions of the Tax Cuts and Jobs Act did not have a material impact on the fiscal 2017 consolidated financial statements.

Other Long-Term Liabilities

12 Months Ended

Feb. 03, 2018

Other Long-Term Liabilities

Other Long-Term Liabilities

(7) Other Long-Term Liabilities

The components of other long-term liabilities as of February 3, 2018 and January 28, 2017 are as follows (in thousands):


	February 3,		January 28,
	2018		2017
Deferred rent	$	2,148	$	1,810
Tenant improvement allowances		4,325		4,554
Other		1,960		2,150
	$	8,433	$	8,514

Stockholders' Equity

12 Months Ended

Feb. 03, 2018

Stockholders' Equity

Stockholders' Equity

(8) Stockholders’ Equity

Repurchases of common stock

On April 10, 2017, the Company’s Board of Directors approved a program that authorized the purchase of up to $25.0 million in shares of the Company’s common stock. During the second and third quarters of 2017, the Company repurchased 1,201,000 shares of its common stock in the open market at an aggregate cost of $25.0 million. As of February 3, 2018, there were no additional shares which could be repurchased under the 2017 repurchase program. On March 16, 2018, the Board of Directors approved the 2018 repurchase program that authorized the purchase of another $25.0 million in shares of the Company’s common stock.

Dividends

In fiscal 2017, the Company paid four quarterly dividends: $0.06 per common share on March 14, 2017, and $0.08 per common share on June 13, 2017, September 12, 2017 and December 12, 2017. In fiscal 2016, the Company paid four quarterly dividends of $0.06 per common share on March 15, 2016, June 14, 2016, September 13, 2016 and December 13, 2016. On February 13, 2018, the Company’s Board of Directors declared a dividend of $0.08 per common share, which was paid on March 20, 2018 to stockholders of record as of March 6, 2018. Any determination to declare and pay cash dividends for future quarters will be made by the Board of Directors.

Stock-Based Compensation

On April 6, 2012, the Company adopted the Citi Trends, Inc. 2012 Incentive Plan (the “2012 Plan”), which became effective upon approval by the Company’s stockholders on May 23, 2012. The 2012 Plan is a successor plan to the 2005 Citi Trends, Inc. Long-Term Incentive Plan (the “2005 Plan”), which became effective upon the consummation of the Company’s initial public offering in May 2005.

The 2005 Plan provided for the grant of incentive and nonqualified options, nonvested restricted stock and other forms of stock-based compensation to key employees and directors. The 2012 Plan provides for the grant of incentive and nonqualified options, nonvested restricted stock and other forms of stock-based and cash-based compensation to key employees and directors.

Shares of time-based nonvested restricted stock granted to employees vest in either equal installments over three or four years from the date of grant, or over three years at 25% on the first and second anniversaries and 50% on the third anniversary. Shares issued to directors vest one year from the date of grant. The Company records compensation expense for grants of time-based nonvested restricted stock on a straight line basis over the requisite service period of the stock recipients which is equal to the vesting period of the stock. Total compensation cost for such stock is calculated based on the closing market price on the date of grant multiplied by the number of shares granted. The Company expects to recognize $2.2 million in future compensation expense from the grants of time-based restricted stock over the requisite service period of up to three years. Compensation costs for grants of performance-based restricted stock units (“RSUs”) are recorded in full on the date of grant using a lattice model to estimate fair market value. During fiscal 2017, 2016 and 2015, compensation expense arising from time-based nonvested restricted stock grants and performance-based RSUs totaled $1.6 million, $2.9 million and $4.1 million, respectively.

A summary of activity related to time-based nonvested restricted stock grants during fiscal year 2017 is as follows:


	Nonvested	Weighted Average
	Restricted	Grant Date
	Shares	Fair Value
Outstanding as of January 28, 2017	217,968	$	18.89
Granted	118,676		18.71
Vested	(132,133)		16.20
Forfeited	(31,303)		19.11
Outstanding as of February 3, 2018	173,208	$	19.02

In March 2017, the Company granted 23,551 RSUs to two employees. The RSUs had performance vesting criteria which were based upon the closing price of the Company’s stock achieving certain thresholds. The shares vest 25% upon achieving a closing stock price for a 20 consecutive day period of $19.10; $21.70; $24.30; and $26.90, respectively. The awards expire three years from the date of grant. On the date of grant, the Company expensed $306,000 which was the estimated fair market value. One of the two employees resigned after the date of grant and forfeited their shares. Three of these thresholds were achieved in 2017.

In March 2016, the Company granted 24,816 RSUs to two employees. The RSUs had performance vesting criteria which were based upon the closing price of the Company’s stock achieving certain thresholds. The shares vest 25% upon achieving a closing stock price for a 20 consecutive day period of $20.75; $23.50; $26.25; and $29.00, respectively. The awards expire three years from the date of grant. On the date of grant, the Company expensed $238,000 which was the estimated fair market value. Three of these thresholds were achieved in 2017.

In March 2015, the Company granted 16,823 RSUs to two employees. The RSUs had performance vesting criteria which were based upon the closing price of the Company’s stock achieving certain thresholds. The shares vest 25% upon achieving a closing stock price for a 20 consecutive day period of $27.00; $29.25; $31.50; and $33.50, respectively. The awards expire three years from the date of grant. On the date of grant, the Company expensed $331,000 which was the estimated fair market value. None of the thresholds were achieved in 2015, 2016 or 2017.

In fiscal 2016 and 2015, tax deductions in excess of cumulative compensation cost resulting from vestings of restricted shares (“excess tax benefits”) were recorded in additional paid-in-capital and classified as financing cash flows in the Company’s consolidated statements of cash flows. Such increases in excess tax benefits amounted to $0.2 million and $1.3 million in fiscal 2016 and 2015, respectively. Beginning in fiscal 2017, following the implementation of ASU No. 2016-09, such income tax benefits or deficiencies are being recorded as a component of income tax expense in the Company’s consolidated statement of operations. In fiscal 2017, such amount was a $70,000 benefit to income tax expense.

Commitments and Contingencies

12 Months Ended

Feb. 03, 2018

Commitments and Contingencies

Commitments and Contingencies

(9) Commitments and Contingencies

The Company leases its stores under operating leases, which generally have an initial term of five years with renewal options. Future minimum rent payments under operating leases having noncancellable lease terms as of February 3, 2018 are as follows (in thousands):


Fiscal Year:
2018	$	45,658
2019		39,536
2020		30,548
2021		19,520
2022		8,450
Thereafter		5,983
Total future minimum lease payments	$	149,695

Certain operating leases provide for fixed monthly rents, while others provide for contingent rents computed as a percentage of net sales and others provide for a combination of both fixed monthly rents and contingent rents computed as a percentage of net sales. Rent expense was $53.0 million, $50.7 million and $47.1 million in fiscal 2017, 2016 and 2015 (including $0.5 million, $0.4 million and $0.5 million of contingent rent), respectively.

The Company from time to time is involved in various legal proceedings incidental to the conduct of its business, including claims by customers, employees or former employees. Once it becomes probable that the Company will incur costs in connection with a legal proceeding and such costs can be reasonably estimated, it establishes appropriate reserves. While legal proceedings are subject to uncertainties and the outcome of any such matter is not predictable, the Company is not aware of any legal proceedings pending or threatened against it that it expects to have a material adverse effect on its financial condition, results of operations or liquidity.

Valuation and Qualifying Accounts

12 Months Ended

Feb. 03, 2018

Valuation and Qualifying Accounts

Valuation and Qualifying Accounts

(10) Valuation and Qualifying Accounts

The following table summarizes the allowances for inventory shrinkage and deferred tax assets (in thousands):


	Allowance for		Allowance for
	Inventory		Deferred Tax
	Shrinkage		Assets
Balance as of January 31, 2015	$	2,646	$	1,272
Additions charged to costs and expenses		7,873		—
Deductions		(7,935)		—
Balance as of January 30, 2016		2,584		1,272
Additions charged to costs and expenses		9,351		—
Deductions		(8,836)		—
Balance as of January 28, 2017		3,099		1,272
Additions charged to costs and expenses		11,103		79
Impact of tax reform		—		273
Deductions		(10,698)		—
Balance as of February 3, 2018	$	3,504	$	1,624

For the allowance for inventory shrinkage, additions charged to costs and expenses are the result of estimated inventory shrinkage, while deductions represent actual inventory shrinkage incurred from physical inventories taken during the fiscal year.

For the deferred tax asset valuation allowance, additions charged to costs and expenses represent the establishment of a valuation allowance when management determines that its ability to utilize certain tax credits included in deferred tax assets is no longer more likely than not. In fiscal 2017, the Company revalued its deferred tax assets and liabilities to reflect the reduced federal income tax rate expected to be in effect at the time of future reversals including the future utilization of tax credits. Such reduction was the result of the Tax Cuts and Jobs Act tax reform legislation enacted in December 2017 which reduced the federal statutory rate from 35% to 21%. The revaluation necessitated an increase in the valuation allowance related to the future realization of state income tax credits due to the reduction of the associated federal income tax benefit.

Unaudited Quarterly Results of Operations

12 Months Ended

Feb. 03, 2018

Unaudited Quarterly Results of Operations

Unaudited Quarterly Results of Operations

(11) Unaudited Quarterly Results of Operations


	Quarter Ended
	Feb. 3		Oct. 28		Jul. 29		Apr. 29		Jan. 28		Oct. 29		Jul. 30		Apr. 30
	2018 (1)		2017		2017		2017		2017		2016		2016		2016
	(in thousands, except per share and share amounts)
Statement of Operations Data:
Net sales	$	212,143	$	176,943	$	166,200	$	199,955	$	185,511	$	160,716	$	155,276	$	193,672

Cost of sales (exclusive of depreciation shown separately below)		(131,363)		(110,094)		(102,175)		(122,390)		(114,822)		(100,386)		(95,150)		(117,809)
Selling, general and administrative expenses		(65,623)		(61,118)		(59,834)		(60,487)		(58,593)		(57,637)		(56,105)		(58,331)
Depreciation		(5,020)		(4,976)		(4,589)		(4,298)		(4,129)		(4,223)		(4,294)		(4,444)
Asset impairment		(430)		—		(77)		—		(31)		(61)		—		(221)
Income (loss) from operations		9,707		755		(475)		12,780		7,936		(1,591)		(273)		12,867
Interest, net		228		178		178		149		124		107		94		87

Income (loss) before income taxes		9,935		933		(297)		12,929		8,060		(1,484)		(179)		12,954
Income tax (expense) benefit		(4,688)		(286)		87		(4,039)		(2,510)		648		59		(4,217)
Net income (loss)	$	5,247	$	647	$	(210)	$	8,890	$	5,550	$	(836)	$	(120)	$	8,737

Net income (loss) per common share: (2)
Basic	$	0.39	$	0.05	$	(0.01)	$	0.60	$	0.38	$	(0.06)	$	(0.01)	$	0.60
Diluted	$	0.38	$	0.05	$	(0.01)	$	0.60	$	0.38	$	(0.06)	$	(0.01)	$	0.60
Weighted average shares used to compute net income (loss) per common share:
Basic		13,567,870		13,563,295		14,381,738		14,719,130		14,680,129		14,676,990		14,675,712		14,594,180
Diluted		13,652,330		13,614,404		14,381,738		14,779,930		14,693,008		14,676,990		14,675,712		14,603,377

(1) Fourth quarter includes the impact of the Tax Cuts and Jobs Act enacted in December 2017. See Note 6 to the consolidated financial statements for additional information.

(2) Net income (loss) per share is computed independently for each period presented. As a result, the total of net income (loss) per share for the four quarters may not equal the annual amount.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Feb. 03, 2018

Summary of Significant Accounting Policies

Principles of Consolidation

(a) Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary. All intercompany transactions and balances have been eliminated in consolidation.

Fiscal Year

(b) Fiscal Year

Cash and Cash Equivalents/Concentration of Credit Risk

Inventory

(d) Inventory

Property and Equipment, net

(e) Property and Equipment, net

Impairment of Long-Lived Assets

(f) Impairment of Long-Lived Assets

Insurance Liabilities

(g) Insurance Liabilities

Stock-Based Compensation

(h) Stock-Based Compensation

Revenue Recognition

(i) Revenue Recognition

Cost of Sales

(j) Cost of Sales

Earnings per Share

(k) Earnings per Share


	2017	2016	2015
Average number of common shares outstanding	14,058,008	14,656,753	14,996,496
Incremental shares from assumed exercises of stock options	—	—	193
Incremental shares from assumed vesting of nonvested restricted stock	57,887	5,519	58,849
Average number of common shares and common stock equivalents outstanding	14,115,895	14,662,272	15,055,538

Advertising

(l) Advertising

The Company expenses advertising as incurred. Advertising expense for fiscal 2017, 2016 and 2015 was $2.0 million, $2.5 million and $2.6 million, respectively.

Operating Leases

(m) Operating Leases

Store Opening and Closing Costs

(n) Store Opening and Closing Costs

Income Taxes

(o) Income Taxes

Use of Estimates

(p) Use of Estimates

Business Reporting Segments

(q) Business Reporting Segments


	Percentage of Net Sales
	2017		2016		2015
Accessories	32	%	31	%	30	%
Ladies’	23	%	24	%	24	%
Children’s	23	%	23	%	25	%
Men’s	17	%	17	%	17	%
Home	5	%	5	%	4	%

Recent Accounting Pronouncements

(r) Recent Accounting Pronouncements

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Feb. 03, 2018

Summary of Significant Accounting Policies

Schedule of reconciliation of the number of average common shares outstanding used to calculate basic and diluted earnings per share


	2017	2016	2015
Average number of common shares outstanding	14,058,008	14,656,753	14,996,496
Incremental shares from assumed exercises of stock options	—	—	193
Incremental shares from assumed vesting of nonvested restricted stock	57,887	5,519	58,849
Average number of common shares and common stock equivalents outstanding	14,115,895	14,662,272	15,055,538

Schedule of merchandise assortment by classification as a percentage of net sales


	Percentage of Net Sales
	2017		2016		2015
Accessories	32	%	31	%	30	%
Ladies’	23	%	24	%	24	%
Children’s	23	%	23	%	25	%
Men’s	17	%	17	%	17	%
Home	5	%	5	%	4	%

Property and Equipment, net (Tables)

12 Months Ended

Feb. 03, 2018

Property and Equipment, net

Schedule of the components of property and equipment

The components of property and equipment as of February 3, 2018 and January 28, 2017 are as follows (in thousands):


	February 3,		January 28,
	2018		2017
Land	$	479	$	478
Buildings		30,540		23,996
Leasehold improvements		93,653		88,585
Furniture, fixtures and equipment		127,816		118,105
Computer equipment		37,115		34,663
Construction in progress		1,873		6,195
		291,476		272,022
Accumulated depreciation		(229,699)		(212,742)
	$	61,777	$	59,280

Fair Value Measurements (Tables)

12 Months Ended

Feb. 03, 2018

Fair Value Measurements

Schedule of investment securities classified as held-to-maturity


			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair Market
	Cost		Gains		Losses		Value
Short-term:
Obligations of the U.S. Treasury and U.S. government agencies (Level 1)	$	10,162	$	—	$	(25)	$	10,137
Obligations of states and municipalities (Level 2)		8,111		1		(2)		8,110
Bank certificates of deposit (Level 2)		13,227		—		—		13,227
	$	31,500	$	1	$	(27)	$	31,474
Long-term:
Obligations of the U. S. Treasury (Level 1)	$	9,967	$	—	$	(116)	$	9,851
Bank certificates of deposit (Level 2)		15,484		—		—		15,484
	$	25,451	$	—	$	(116)	$	25,335

As of January 28, 2017, the Company’s investment securities were classified as held-to-maturity and consisted of the following (in thousands):


			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair Market
	Cost		Gains		Losses		Value
Short-term:
Obligations of the U. S. Treasury (Level 1)	$	9,995	$	1	$	—	$	9,996
Obligations of states and municipalities (Level 2)		14,816		2		(1)		14,817
Bank certificates of deposit (Level 2)		13,215		—		—		13,215
	$	38,026	$	3	$	(1)	$	38,028
Long-term:
Obligations of the U. S. Treasury (Level 1)	$	15,011	$	—	$	(51)	$	14,960
Bank certificates of deposit (Level 2)		11,680		—		—		11,680
	$	26,691	$	—	$	(51)	$	26,640

Schedule of amortized cost and fair market value of investment securities by contractual maturity

The amortized cost and fair market value of investment securities as of February 3, 2018 by contractual maturity are as follows (in thousands):


			Fair
	Amortized		Market
	Cost		Value
Mature in one year or less	$	31,500	$	31,474
Mature after one year through five years		25,451		25,335
	$	56,951	$	56,809

The amortized cost and fair market value of investment securities as of January 28, 2017 by contractual maturity were as follows (in thousands):


			Fair
	Amortized		Market
	Cost		Value
Mature in one year or less	$	38,026	$	38,028
Mature after one year through five years		26,691		26,640
	$	64,717	$	64,668

- Definition

Tabular disclosure of all investments in certain debt and equity securities for which the entity has the positive intent and ability to hold until maturity.

+ References + Details

Income Taxes (Tables)

12 Months Ended

Feb. 03, 2018

Income Taxes

Schedule of income tax (benefit) expense

Income tax expense for fiscal 2017, 2016 and 2015 consists of the following (in thousands):


	2017		2016		2015
Current:
Federal	$	(5,249)	$	(3,759)	$	(6,805)
State		(948)		(779)		(1,283)
Total current		(6,197)		(4,538)		(8,088)
Deferred:
Federal		(3,078)		(1,541)		(806)
State		349		59		107
Total deferred		(2,729)		(1,482)		(699)
Total income tax expense	$	(8,926)	$	(6,020)	$	(8,787)

Schedule of the reconciliation of income tax (benefit) expense computed using the federal statutory rate to the reported income tax (benefit) expense

Income tax expense computed using the federal statutory rate is reconciled to the reported income tax expense as follows for fiscal 2017, 2016 and 2015 (in thousands):


	2017		2016		2015
Statutory rate applied to income before income taxes	$	(7,924)	$	(6,773)	$	(8,510)
Revaluation of net deferred tax assets due to the Tax Cuts and Jobs Act		(1,925)		—		—
State income taxes, net of federal benefit		(549)		(903)		(950)
State tax credits		252		226		186
State tax credits - valuation allowance (net of federal benefit)		(79)		—		—
Tax exempt interest		24		20		6
General business credits		1,273		1,605		978
Excess compensation		—		—		(263)
Excess tax benefits from stock based compensation		70		—		—
Other		(68)		(195)		(234)
Income tax expense	$	(8,926)	$	(6,020)	$	(8,787)

Schedule of the components of deferred tax assets and deferred tax liabilities

The components of deferred tax assets and deferred tax liabilities as of February 3, 2018 and January 28, 2017 are as follows (in thousands):


	February 3,		January 28,
	2018		2017
Deferred tax assets:
Deferred rent amortization	$	558	$	722
Inventory capitalization		1,863		2,895
Federal jobs credits		—		95
Book and tax depreciation differences		312		526
Vacation liability		585		921
State tax credits		2,676		2,161
Stock compensation		834		1,340
Legal expense reserve		73		407
Insurance liabilities		537		845
Other		342		481
Subtotal deferred tax assets		7,780		10,393
Less: State tax credits valuation allowance - net		(1,624)		(1,272)
Total deferred tax assets		6,156		9,121

Deferred tax liabilities:
Prepaid expenses		(379)		(615)
Total deferred tax liabilities		(379)		(615)
Net deferred tax asset	$	5,777	$	8,506

Other Long-Term Liabilities (Tables)

12 Months Ended

Feb. 03, 2018

Other Long-Term Liabilities

Schedule of components of other long-term liabilities

The components of other long-term liabilities as of February 3, 2018 and January 28, 2017 are as follows (in thousands):


	February 3,		January 28,
	2018		2017
Deferred rent	$	2,148	$	1,810
Tenant improvement allowances		4,325		4,554
Other		1,960		2,150
	$	8,433	$	8,514

Stockholders' Equity (Tables)

12 Months Ended

Feb. 03, 2018

Stockholders' Equity

Schedule of activity related to nonvested restricted stock grants


	Nonvested	Weighted Average
	Restricted	Grant Date
	Shares	Fair Value
Outstanding as of January 28, 2017	217,968	$	18.89
Granted	118,676		18.71
Vested	(132,133)		16.20
Forfeited	(31,303)		19.11
Outstanding as of February 3, 2018	173,208	$	19.02

Commitments and Contingencies (Tables)

12 Months Ended

Feb. 03, 2018

Commitments and Contingencies

Schedule of future minimum rent payments under operating leases having noncancellable lease terms

Future minimum rent payments under operating leases having noncancellable lease terms as of February 3, 2018 are as follows (in thousands):


Fiscal Year:
2018	$	45,658
2019		39,536
2020		30,548
2021		19,520
2022		8,450
Thereafter		5,983
Total future minimum lease payments	$	149,695

Valuation and Qualifying Accounts (Tables)

12 Months Ended

Feb. 03, 2018

Valuation and Qualifying Accounts

Summary of the allowance for inventory shrinkage

The following table summarizes the allowances for inventory shrinkage and deferred tax assets (in thousands):


	Allowance for		Allowance for
	Inventory		Deferred Tax
	Shrinkage		Assets
Balance as of January 31, 2015	$	2,646	$	1,272
Additions charged to costs and expenses		7,873		—
Deductions		(7,935)		—
Balance as of January 30, 2016		2,584		1,272
Additions charged to costs and expenses		9,351		—
Deductions		(8,836)		—
Balance as of January 28, 2017		3,099		1,272
Additions charged to costs and expenses		11,103		79
Impact of tax reform		—		273
Deductions		(10,698)		—
Balance as of February 3, 2018	$	3,504	$	1,624

Unaudited Quarterly Results of Operations (Tables)

12 Months Ended

Feb. 03, 2018

Unaudited Quarterly Results of Operations

Schedule of unaudited quarterly results of operations


	Quarter Ended
	Feb. 3		Oct. 28		Jul. 29		Apr. 29		Jan. 28		Oct. 29		Jul. 30		Apr. 30
	2018 (1)		2017		2017		2017		2017		2016		2016		2016
	(in thousands, except per share and share amounts)
Statement of Operations Data:
Net sales	$	212,143	$	176,943	$	166,200	$	199,955	$	185,511	$	160,716	$	155,276	$	193,672

Cost of sales (exclusive of depreciation shown separately below)		(131,363)		(110,094)		(102,175)		(122,390)		(114,822)		(100,386)		(95,150)		(117,809)
Selling, general and administrative expenses		(65,623)		(61,118)		(59,834)		(60,487)		(58,593)		(57,637)		(56,105)		(58,331)
Depreciation		(5,020)		(4,976)		(4,589)		(4,298)		(4,129)		(4,223)		(4,294)		(4,444)
Asset impairment		(430)		—		(77)		—		(31)		(61)		—		(221)
Income (loss) from operations		9,707		755		(475)		12,780		7,936		(1,591)		(273)		12,867
Interest, net		228		178		178		149		124		107		94		87

Income (loss) before income taxes		9,935		933		(297)		12,929		8,060		(1,484)		(179)		12,954
Income tax (expense) benefit		(4,688)		(286)		87		(4,039)		(2,510)		648		59		(4,217)
Net income (loss)	$	5,247	$	647	$	(210)	$	8,890	$	5,550	$	(836)	$	(120)	$	8,737

Net income (loss) per common share: (2)
Basic	$	0.39	$	0.05	$	(0.01)	$	0.60	$	0.38	$	(0.06)	$	(0.01)	$	0.60
Diluted	$	0.38	$	0.05	$	(0.01)	$	0.60	$	0.38	$	(0.06)	$	(0.01)	$	0.60
Weighted average shares used to compute net income (loss) per common share:
Basic		13,567,870		13,563,295		14,381,738		14,719,130		14,680,129		14,676,990		14,675,712		14,594,180
Diluted		13,652,330		13,614,404		14,381,738		14,779,930		14,693,008		14,676,990		14,675,712		14,603,377

(1) Fourth quarter includes the impact of the Tax Cuts and Jobs Act enacted in December 2017. See Note 6 to the consolidated financial statements for additional information.

(2) Net income (loss) per share is computed independently for each period presented. As a result, the total of net income (loss) per share for the four quarters may not equal the annual amount.

Organization and Business (Details) - item	12 Months Ended
Organization and Business (Details) - item	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Organization and Business
Number of stores operated	549
Number of states in which company operates	31
Length of fiscal year	371 days	364 days	364 days

Summary of Significant Accounting Policies - PPE and Insurance Liabilities (Details) - USD ($)	12 Months Ended
	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Fiscal Year
Length of fiscal year	371 days	364 days	364 days
Impairment of long lived assets
Non-cash impairment expense related to leasehold improvements and fixtures and equipment	$ 500,000	$ 300,000	$ 0
Insurance Liabilities
Self-insured retention or deductible amount per claim for workers' compensation	250,000
Self-insured retention or deductible amount per claim for employee medical	$ 100,000
Furniture and Fixtures \| Minimum
Property and Equipment, net
Estimated useful lives	3 years
Furniture and Fixtures \| Maximum
Property and Equipment, net
Estimated useful lives	5 years
Leasehold Improvements \| Minimum
Property and Equipment, net
Estimated useful lives	5 years
Leasehold Improvements \| Maximum
Property and Equipment, net
Estimated useful lives	7 years
Building and Building Improvements \| Minimum
Property and Equipment, net
Estimated useful lives	15 years
Building and Building Improvements \| Maximum
Property and Equipment, net
Estimated useful lives	20 years

Summary of Significant Accounting Policies - Revenue Recognition and Cost of Sales (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Revenue Recognition
Maximum period allowed to customers to return merchandise after the date of sale	30 days
Period after the year end for entity to reduce revenue for each fiscal year using a combination of actual and estimated return information for the returns	30 days
Period within which if merchandise is not fully paid for, the customer is given a store credit for merchandise payments made	60 days
Amount amortized into income for gift cards not expected to be redeemed	$ 0	$ 0
Immateriality of the gift card liability	1,000	800
Cost of Sales
Distribution center costs	$ 17,400	$ 17,200	$ 15,700

Summary of Significant Accounting Policies - EPS, Advertising and Leases (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Feb. 03, 2018	Oct. 28, 2017	Jul. 29, 2017	Apr. 29, 2017	Jan. 28, 2017	Oct. 29, 2016	Jul. 30, 2016	Apr. 30, 2016	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Advertising
Advertising expense									$ 2.0	$ 2.5	$ 2.6
Operating Leases
Liability for estimated expenses to be incurred upon the termination of entity's operating leases					$ 0.8					$ 0.8	$ 0.8
Reconciliation of average number of common shares outstanding used to calculate basic and diluted earnings per share
Average number of common shares outstanding	13,567,870	13,563,295	14,381,738	14,719,130	14,680,129	14,676,990	14,675,712	14,594,180	14,058,008	14,656,753	14,996,496
Incremental shares from assumed exercises of stock options											193
Incremental shares from assumed vesting of nonvested restricted stock									57,887	5,519	58,849
Average number of common shares and common stock equivalents outstanding	13,652,330	13,614,404	14,381,738	14,779,930	14,693,008	14,676,990	14,675,712	14,603,377	14,115,895	14,662,272	15,055,538
Stock Options
Securities excluded from calculation of diluted earnings per share (in shares)									0	4,000	19,000
Restricted Stock
Securities excluded from calculation of diluted earnings per share (in shares)									125,000	237,000	332,000

Summary of Significant Accounting Policies - Segments and Concentration Risk (Details) - item	12 Months Ended
	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Merchandise assortment by classification as a percentage of net sales
Number of reporting units	1
Accessories
Merchandise assortment by classification as a percentage of net sales
Concentration risk (as a percent)	32.00%	31.00%	30.00%
Ladies'
Merchandise assortment by classification as a percentage of net sales
Concentration risk (as a percent)	23.00%	24.00%	24.00%
Children's
Merchandise assortment by classification as a percentage of net sales
Concentration risk (as a percent)	23.00%	23.00%	25.00%
Men's
Merchandise assortment by classification as a percentage of net sales
Concentration risk (as a percent)	17.00%	17.00%	17.00%
Home
Merchandise assortment by classification as a percentage of net sales
Concentration risk (as a percent)	5.00%	5.00%	4.00%

Summary of Significant Accounting Policies - Recent Accounting Pronouncements (Details)	12 Months Ended
	Feb. 03, 2018 lease
Minimum
Minimum lease term	12 months
New Accounting Pronouncement ASU 2016-02 not yet adopted
Number of leases	549
Average remaining contractual rent period	3 years

Property and Equipment, net (Details) - USD ($) $ in Thousands	Feb. 03, 2018	Jan. 28, 2017
Property and Equipment, net
Property and equipment, gross	$ 291,476	$ 272,022
Accumulated depreciation	(229,699)	(212,742)
Property and Equipment, net	61,777	59,280
Land
Property and Equipment, net
Property and equipment, gross	479	478
Building
Property and Equipment, net
Property and equipment, gross	30,540	23,996
Leasehold Improvements
Property and Equipment, net
Property and equipment, gross	93,653	88,585
Furniture and Fixtures
Property and Equipment, net
Property and equipment, gross	127,816	118,105
Computer Equipment
Property and Equipment, net
Property and equipment, gross	37,115	34,663
Construction in Progress
Property and Equipment, net
Property and equipment, gross	$ 1,873	$ 6,195

Fair Value Measurements - Securities Carried at Amortized Cost Plus Accrued Interest (Details) - USD ($) $ in Thousands	Feb. 03, 2018	Jan. 28, 2017
Investment securities classified as held to maturity
Amortized Cost	$ 56,951	$ 64,717
Total Fair Market Value	56,809	64,668
Short-term Investments
Investment securities classified as held to maturity
Amortized Cost	31,500	38,026
Gross Unrealized Gains	1	3
Gross Unrealized Losses	(27)	(1)
Total Fair Market Value	31,474	38,028
Short-term Investments \| Obligations of the U.S. Treasury \| Fair Value, Inputs, Level 1
Investment securities classified as held to maturity
Amortized Cost	10,162	13,215
Gross Unrealized Losses	(25)
Total Fair Market Value	10,137	13,215
Short-term Investments \| Obligations of states and municipalities \| Fair Value, Inputs, Level 2
Investment securities classified as held to maturity
Amortized Cost	8,111	14,816
Gross Unrealized Gains	1	2
Gross Unrealized Losses	(2)	(1)
Total Fair Market Value	8,110	14,817
Short-term Investments \| Bank certificates of deposit \| Fair Value, Inputs, Level 2
Investment securities classified as held to maturity
Amortized Cost	13,227	9,995
Gross Unrealized Gains		1
Total Fair Market Value	13,227	9,996
Long Term Investments
Investment securities classified as held to maturity
Amortized Cost	25,451	26,691
Gross Unrealized Losses	(116)	(51)
Total Fair Market Value	25,335	26,640
Long Term Investments \| Obligations of the U.S. Treasury \| Fair Value, Inputs, Level 1
Investment securities classified as held to maturity
Amortized Cost	9,967	15,011
Gross Unrealized Losses	(116)	(51)
Total Fair Market Value	9,851	14,960
Long Term Investments \| Bank certificates of deposit \| Fair Value, Inputs, Level 2
Investment securities classified as held to maturity
Amortized Cost	15,484	11,680
Total Fair Market Value	$ 15,484	$ 11,680

Fair Value Measurements - Amortized Cost and Fair Market Value of Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Amortized Cost
Mature in one year or less	$ 31,500	$ 38,026
Mature after one year through five years	25,451	26,691
Total	56,951	64,717
Fair Market Value
Mature in one year or less	31,474	38,028
Mature after one year through five years	25,335	26,640
Total Fair Market Value	56,809	64,668
Changes among the fair value levels
Changes between Level 1 to Level 2, Assets	0	0	$ 0
Changes between Level 2 to Level 1, Assets	$ 0	$ 0	$ 0

Revolving Line of Credit (Details) - Line of Credit $ in Millions			12 Months Ended
	Aug. 16, 2016 USD ($)	Oct. 27, 2011 USD ($)	Feb. 03, 2018 USD ($) item
Revolving Line of Credit
Term of credit facility		5 years
Maximum borrowing capacity		$ 50
Number of covenants \| item			1
Unused commitment fee (as a percent)			0.25%
Amount of outstanding borrowings prior to cash dividend payment within specified period, per covenant			$ 0
Period prior to cash dividend payment when no borrowings may be outstanding, per covenant			30 days
Amount of expected borrowings subsequent to cash dividend payment within specified period, per covenant			$ 0
Period subsequent to cash dividend payment when no borrowings may be expected, per covenant			30 days
Borrowings outstanding			$ 0
Amendment to credit facility
Revolving Line of Credit
Maximum borrowing capacity	$ 50
Borrowing capacity, accordion feature	25
Maximum borrowing capacity including accordion expansion	$ 75
LIBOR \| Amendment to credit facility \| Debt Instrument, Variable Rate Base LIBOR \| LIBOR Rate Loans \| Minimum
Revolving Line of Credit
Margin added to variable rate (as a percent)	1.25%
LIBOR \| Amendment to credit facility \| Debt Instrument, Variable Rate Base LIBOR \| LIBOR Rate Loans \| Maximum
Revolving Line of Credit
Margin added to variable rate (as a percent)	1.50%
Prime Rate \| Amendment to credit facility \| Debt Instrument Variable Rate Prime Rate \| Base Rate Loans \| Minimum
Revolving Line of Credit
Margin added to variable rate (as a percent)	0.25%
Prime Rate \| Amendment to credit facility \| Debt Instrument Variable Rate Prime Rate \| Base Rate Loans \| Maximum
Revolving Line of Credit
Margin added to variable rate (as a percent)	0.50%
Federal Fund Rate \| Amendment to credit facility \| Debt Instrument, Variable Rate Base Federal Funds Rate \| Base Rate Loans \| Minimum
Revolving Line of Credit
Margin added to variable rate (as a percent)	0.75%
Federal Fund Rate \| Amendment to credit facility \| Debt Instrument, Variable Rate Base Federal Funds Rate \| Base Rate Loans \| Maximum
Revolving Line of Credit
Margin added to variable rate (as a percent)	1.00%

Income Taxes - Income Tax (Benefit) Expense (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Feb. 03, 2018	Oct. 28, 2017	Jul. 29, 2017	Apr. 29, 2017	Jan. 28, 2017	Oct. 29, 2016	Jul. 30, 2016	Apr. 30, 2016	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Current:
Federal									$ 5,249	$ 3,759	$ 6,805
State									948	779	1,283
Total current									6,197	4,538	8,088
Deferred:
Federal									(3,078)	(1,541)	(806)
State									349	59	107
Total deferred									(2,729)	(1,482)	(699)
Total income tax (expense) benefit	$ (4,688)	$ (286)	$ 87	$ (4,039)	$ (2,510)	$ 648	$ 59	$ (4,217)	$ (8,926)	$ (6,020)	$ (8,787)

Income Taxes - Reconciliation of Federal Statutory Tax Rate (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Feb. 03, 2018	Oct. 28, 2017	Jul. 29, 2017	Apr. 29, 2017	Jan. 28, 2017	Oct. 29, 2016	Jul. 30, 2016	Apr. 30, 2016	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Reconciliation of income tax (benefit) expense computed using the federal statutory rate to the reported income tax (benefit) expense
Statutory rate applied to (income) loss before income taxes									$ (7,924)	$ (6,773)	$ (8,510)
Revaluation of net deferred tax assets due to the Tax Cuts and Jobs Act	$ (1,900)								(1,925)
State income taxes, net of federal benefit									(549)	(903)	(950)
State tax credits									252	226	186
State tax credits - valuation allowance (net of federal benefit)									(79)
Tax exempt interest									24	20	6
General business credits									1,273	1,605	978
Excess compensation											(263)
Excess tax benefits from stock based compensation									70
Other									(68)	(195)	(234)
Total income tax (expense) benefit	$ (4,688)	$ (286)	$ 87	$ (4,039)	$ (2,510)	$ 648	$ 59	$ (4,217)	$ (8,926)	$ (6,020)	$ (8,787)

Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Feb. 03, 2018	Jan. 28, 2017
Deferred tax assets:
Deferred rent amortization	$ 558	$ 722
Inventory capitalization	1,863	2,895
Federal jobs credits		95
Book and tax depreciation differences	312	526
Vacation liability	585	921
State tax credits	2,676	2,161
Stock compensation	834	1,340
Legal expense reserve	73	407
Insurance liabilities	537	845
Other	342	481
Subtotal deferred tax assets	7,780	10,393
Less: State tax credits valuation allowance - net	(1,624)	(1,272)
Total deferred tax assets	6,156	9,121
Deferred tax liabilities:
Prepaid expenses	(379)	(615)
Total deferred tax liabilities	(379)	(615)
Net deferred tax asset	$ 5,777	$ 8,506

Income Taxes - Income Tax (Benefit) Expense Components (Details)	3 Months Ended	12 Months Ended
	Feb. 03, 2018 USD ($)	Dec. 31, 2018	Feb. 03, 2018 USD ($) item	Dec. 31, 2017	Jan. 28, 2017 USD ($)	Jan. 30, 2016 USD ($)
Income Tax
Benefits not recognized due to uncertainty	$ 0		$ 0
Work opportunity tax benefits not recognized due to uncertainty	0		$ 0
Number of states in which ability to utilize tax credits is no longer more likely than not \| item			1
Credits carry back period			1 year
Credits carry forward period			20 years
Income tax benefit related to federal and state tax credits			$ 1,300,000		$ 1,800,000	$ 1,200,000
Federal statutory tax rate			33.70%	35.00%
Reduction in income tax expense due to Tax Cuts and Jobs Act tax reform legislation			$ 300,000
Reduction of net deferred tax assets	$ 1,900,000		$ 1,925,000
Forecast
Income Tax
Federal statutory tax rate		21.00%

Other Long-Term Liabilities (Details) - USD ($) $ in Thousands	Feb. 03, 2018	Jan. 28, 2017
Other Long-Term Liabilities
Deferred rent	$ 2,148	$ 1,810
Tenant improvement allowances	4,325	4,554
Other	1,960	2,150
Other long-term liabilities total	$ 8,433	$ 8,514

Stockholders' Equity - Stock Repurchase Program and Cash Dividends (Details)										3 Months Ended
	Feb. 13, 2018 $ / shares	Dec. 12, 2017 $ / shares	Sep. 12, 2017 $ / shares	Jun. 13, 2017 $ / shares	Mar. 14, 2017 $ / shares	Dec. 13, 2016 $ / shares	Sep. 13, 2016 $ / shares	Jun. 14, 2016 $ / shares	Mar. 15, 2016 $ / shares	Oct. 28, 2017 USD ($) shares	Jul. 29, 2017 USD ($) shares	Mar. 16, 2018 USD ($)	Feb. 03, 2018 USD ($) item	Apr. 10, 2017 USD ($)	Jan. 28, 2017 item
Stockholders' Equity
Stock Repurchase Program, Authorized Amount												$ 25,000,000
Aggregate value of stock repurchases that cause program to expire										$ 25,000,000	$ 25,000,000
Cash dividends declared per share \| $ / shares	$ 0.08
Number of quarters dividends paid \| item													4		4
Cash dividend paid per share \| $ / shares		$ 0.08	$ 0.08	$ 0.08	$ 0.06	$ 0.06	$ 0.06	$ 0.06	$ 0.06
Stock Repurchase Program
Stockholders' Equity
Stock Repurchased During Period Shares \| shares										1,201,000	1,201,000
Additional shares which could be repurchased													$ 0
Stock Repurchase Program \| Maximum
Stockholders' Equity
Stock Repurchase Program, Authorized Amount														$ 25,000

Stockholders' Equity - Time-Based Nonvested Restricted Stock Granted to Employees (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Restricted Stock
Stockholders' Equity
Compensation expense (in dollars)	$ 1.6	$ 2.9	$ 4.1
Future compensation expense to be recognized (in dollars)	$ 2.2
Period for recognition of future compensation expense over the requisite service period	3 years
Restricted Stock \| Director
Stockholders' Equity
Vesting period	1 year
Restricted Stock that Vest Equally on Four Anniversaries from Date of Grant
Stockholders' Equity
Vesting period	4 years
Restricted Stock that Vest over Three Anniversaries from Date of Grant
Stockholders' Equity
Vesting period	3 years
First vesting year from the anniversary of the date of grant		1 year
Second vesting year from the anniversary of the date of grant		2 years
Third vesting year from anniversary of the date of grant		3 years
Rate at which nonvested restricted stock vests on the first and second anniversaries (as a percent)	25.00%
Rate at which nonvested restricted stock vests on the third anniversary (as a percent)	50.00%

Stockholders Equity - Activity for Time-Based Nonvested Restricted Stock Grants (Details) - Restricted Stock	12 Months Ended
	Feb. 03, 2018 $ / shares shares
Nonvested Restricted Shares
Outstanding at the beginning of the period (in shares) \| shares	217,968
Granted (in shares) \| shares	118,676
Vested (in shares) \| shares	(132,133)
Forfeited (in shares) \| shares	(31,303)
Outstanding at the end of the period (in shares) \| shares	173,208
Weighted Average Grant Date Fair Value
Outstanding at the beginning of the period (in dollars per share) \| $ / shares	$ 18.89
Granted (in dollars per share) \| $ / shares	18.71
Vested (in dollars per share) \| $ / shares	16.20
Forfeited (in dollars per share) \| $ / shares	19.11
Outstanding at the end of the period (in dollars per share) \| $ / shares	$ 19.02

Stockholders' Equity - Restricted Stock Units (Details)	1 Months Ended			12 Months Ended
Stockholders' Equity - Restricted Stock Units (Details)	Mar. 31, 2017 USD ($) item $ / shares shares	Mar. 31, 2016 USD ($) item $ / shares shares	Apr. 04, 2015 USD ($) item $ / shares shares	Feb. 03, 2018 USD ($) item shares	Jan. 28, 2017 USD ($) item	Jan. 30, 2016 USD ($) item
Stockholders' Equity
Target price for vesting of shares, four (in dollars per share)	$ 26.90
(Decrease) increase in excess tax benefits (in dollars) \| $				$ 70,000	$ 200,000	$ 1,300,000
Restricted Stock
Stockholders' Equity
Compensation expense (in dollars) \| $				$ 1,600,000	$ 2,900,000	$ 4,100,000
Granted (in shares) \| shares				118,676
Restricted Stock \| Director
Stockholders' Equity
Vesting period				1 year
March 2017 RSU
Stockholders' Equity
Vesting period	3 years
Compensation expense (in dollars) \| $	$ 306,000
Number of employees to whom awards are granted \| item	2
Percentage of vesting upon achieving closing stock price for a 20 consecutive day period	25.00%
Consecutive period for which closing stock price should be achieved to vest shares	20 days
Target price for vesting of shares, one (in dollars per share)	$ 19.10
Target price for vesting of shares, two (in dollars per share)	21.70
Target price for vesting of shares, three (in dollars per share)	$ 24.30
Number of employees to whom awards are granted who subsequently resigned \| item	1
Number of thresholds achieved \| item				3
Granted (in shares) \| shares	23,551
March 2016 RSU
Stockholders' Equity
Vesting period		3 years
Compensation expense (in dollars) \| $		$ 238,000
Number of employees to whom awards are granted \| item		2
Percentage of vesting upon achieving closing stock price for a 20 consecutive day period		25.00%
Consecutive period for which closing stock price should be achieved to vest shares		20 days
Target price for vesting of shares, one (in dollars per share)		$ 20.75
Target price for vesting of shares, two (in dollars per share)		23.50
Target price for vesting of shares, three (in dollars per share)		26.25
Target price for vesting of shares, four (in dollars per share)		$ 29.00
Number of thresholds achieved \| item				3
Granted (in shares) \| shares		24,816
March 2015 RSU
Stockholders' Equity
Vesting period			3 years
Compensation expense (in dollars) \| $			$ 331,000
Number of employees to whom awards are granted \| item			2
Percentage of vesting upon achieving closing stock price for a 20 consecutive day period			25.00%
Consecutive period for which closing stock price should be achieved to vest shares			20 days
Target price for vesting of shares, one (in dollars per share)			$ 27.00
Target price for vesting of shares, two (in dollars per share)			29.25
Target price for vesting of shares, three (in dollars per share)			31.50
Target price for vesting of shares, four (in dollars per share)			$ 33.50
Number of thresholds achieved \| item				0	0	0
Granted (in shares) \| shares			16,823

Stockholders' Equity - Status of Stock Options (Details) $ in Thousands	12 Months Ended
	Jan. 30, 2016 USD ($)
Stockholders' Equity
Proceeds from the exercise of stock options	$ 70

Commitments and Contingencies - Future Minimum Rent Payments (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Commitments and Contingencies
Initial term	5 years
Rent expense	$ 53,000	$ 50,700	$ 47,100
Rent expense as a percentage of net sales	500	$ 400	$ 500
Future minimum rent payments under operating leases
2018	45,658
2019	39,536
2020	30,548
2021	19,520
2022	8,450
Thereafter	5,983
Total future minimum lease payments	$ 149,695

Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Feb. 03, 2018	Dec. 31, 2017	Jan. 28, 2017	Jan. 30, 2016
Changes in the allowance for inventory shrinkage
Federal statutory tax rate		33.70%	35.00%
Forecast
Changes in the allowance for inventory shrinkage
Federal statutory tax rate	21.00%
Allowance for Inventory Shrinkage
Changes in the allowance for inventory shrinkage
Balance at the beginning of the period		$ 3,099		$ 2,584	$ 2,646
Additions charged to costs and expenses		11,103		9,351	7,873
Deductions		(10,698)		(8,836)	(7,935)
Balance at the end of the period		3,504		3,099	2,584
Allowance for Deferred Tax Assets
Changes in the allowance for inventory shrinkage
Balance at the beginning of the period		1,272		1,272	1,272
Additions charged to costs and expenses		79
Impact of tax reform		273
Balance at the end of the period		$ 1,624		$ 1,272	$ 1,272

Unaudited Quarterly Results of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Feb. 03, 2018	Oct. 28, 2017	Jul. 29, 2017	Apr. 29, 2017	Jan. 28, 2017	Oct. 29, 2016	Jul. 30, 2016	Apr. 30, 2016	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Statement of Income Data:
Net sales	$ 212,143	$ 176,943	$ 166,200	$ 199,955	$ 185,511	$ 160,716	$ 155,276	$ 193,672	$ 755,241	$ 695,175	$ 683,791
Cost of sales (exclusive of depreciation shown separately below)	(131,363)	(110,094)	(102,175)	(122,390)	(114,822)	(100,386)	(95,150)	(117,809)
Selling, general and administrative expenses	(65,623)	(61,118)	(59,834)	(60,487)	(58,593)	(57,637)	(56,105)	(58,331)	(247,062)	(230,666)	(224,218)
Depreciation	(5,020)	(4,976)	(4,589)	(4,298)	(4,129)	(4,223)	(4,294)	(4,444)	(18,883)	(17,090)	(18,577)
Asset impairment	(430)		(77)		(31)	(61)		(221)	(507)	(313)
Income (loss) from operations	9,707	755	(475)	12,780	7,936	(1,591)	(273)	12,867	22,767	18,939	24,217
Interest, net	228	178	178	149	124	107	94	87
Income (loss) before income taxes	9,935	933	(297)	12,929	8,060	(1,484)	(179)	12,954	23,500	19,351	24,314
Income tax (expense) benefit	(4,688)	(286)	87	(4,039)	(2,510)	648	59	(4,217)	(8,926)	(6,020)	(8,787)
Net income (loss)	$ 5,247	$ 647	$ (210)	$ 8,890	$ 5,550	$ (836)	$ (120)	$ 8,737	$ 14,574	$ 13,331	$ 15,527
Net income (loss) per common share:
Basic (in dollars per share)	$ 0.39	$ 0.05	$ (0.01)	$ 0.60	$ 0.38	$ (0.06)	$ (0.01)	$ 0.60	$ 1.04	$ 0.91	$ 1.04
Diluted (in dollars per share)	$ 0.38	$ 0.05	$ (0.01)	$ 0.60	$ 0.38	$ (0.06)	$ (0.01)	$ 0.60	$ 1.03	$ 0.91	$ 1.03
Weighted average shares used to compute net income (loss) per common share:
Basic	13,567,870	13,563,295	14,381,738	14,719,130	14,680,129	14,676,990	14,675,712	14,594,180	14,058,008	14,656,753	14,996,496
Diluted	13,652,330	13,614,404	14,381,738	14,779,930	14,693,008	14,676,990	14,675,712	14,603,377	14,115,895	14,662,272	15,055,538