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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Feb. 02, 2019	Apr. 02, 2019	Aug. 04, 2018
Document and Entity Information
Entity Registrant Name	Citi Trends Inc
Entity Central Index Key	0001318484
Document Type	10-K
Document Period End Date	Feb. 02, 2019
Amendment Flag	false
Current Fiscal Year End Date	--02-02
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 345,865,178
Entity Common Stock, Shares Outstanding		12,132,535
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Feb. 02, 2019	Feb. 03, 2018
Current assets:
Cash and cash equivalents	$ 17,863	$ 48,451
Short-term investment securities	50,350	31,500
Inventory	139,841	137,701
Prepaid and other current assets	17,544	15,694
Total current assets	225,598	233,346
Property and equipment, net	56,224	61,777
Long-term investment securities	8,883	25,451
Deferred tax asset	6,539	5,777
Other assets	745	720
Total assets	297,989	327,071
Current liabilities:
Accounts payable	73,391	75,947
Accrued expenses	15,311	13,762
Accrued compensation	12,746	17,013
Income tax payable	395	1,916
Layaway deposits	526	532
Total current liabilities	102,369	109,170
Other long-term liabilities	8,195	8,433
Total liabilities	110,564	117,603
Stockholders' equity:
Common stock, $0.01 par value. Authorized 32,000,000 shares; 15,827,713 shares issued as of February 2, 2019 and 15,777,946 shares issued as of February 3, 2018; 12,158,237 shares outstanding as of February 2, 2019 and 13,743,776 shares outstanding as of February 3, 2018	157	156
Paid in capital	91,794	90,605
Retained earnings	176,094	158,927
Treasury stock, at cost; 3,669,476 shares held as of February 2, 2019 and 2,034,170 shares held as of February 3, 2018	(80,620)	(40,220)
Total stockholders' equity	187,425	209,468
Total liabilities and stockholders' equity	$ 297,989	$ 327,071

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Feb. 02, 2019	Feb. 03, 2018
Condensed 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	15,827,713	15,777,946
Common stock, shares outstanding	12,158,237	13,743,776
Treasury stock, shares	3,669,476	2,034,170

Condensed Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Condensed Consolidated Statements of Income
Net sales	$ 769,553	$ 755,241	$ 695,175
Cost of sales (exclusive of depreciation shown separately below)	(476,326)	(466,022)	(428,167)
Selling, general and administrative expenses	(247,938)	(247,062)	(230,666)
Depreciation	(18,886)	(18,883)	(17,090)
Asset impairment	(1,274)	(507)	(313)
Income from operations	25,129	22,767	18,939
Interest income	1,353	883	571
Interest expense	(154)	(150)	(159)
Income before income taxes	26,328	23,500	19,351
Income tax expense	(4,954)	(8,926)	(6,020)
Net income	$ 21,374	$ 14,574	$ 13,331
Basic net income per common share	$ 1.64	$ 1.04	$ 0.91
Diluted net income per common share	$ 1.64	$ 1.03	$ 0.91
Weighted average number of shares outstanding
Basic	13,030,063	14,058,008	14,656,753
Diluted	13,069,694	14,115,895	14,662,272

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Operating activities:
Net income	$ 21,374	$ 14,574	$ 13,331
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	18,886	18,883	17,090
Asset impairment	1,274	507	313
Deferred income taxes	(762)	2,729	1,482
Loss on disposal of property and equipment	471	130	290
Insurance proceeds related to operating activities	475	1,349	847
Noncash stock-based compensation expense	2,238	1,632	2,923
Excess tax benefits from stock-based payment arrangements			(168)
Changes in assets and liabilities:
Inventory	(2,330)	(3,948)	1,665
Prepaid and other current assets	(2,135)	(2,398)	(1,689)
Other assets	(25)	5	(20)
Accounts payable	(2,844)	230	8,009
Accrued expenses and other long-term liabilities	(418)	(3,093)	54
Accrued compensation	(4,267)	8,092	(4,176)
Income tax payable/receivable	(1,521)	3,551	(182)
Layaway deposits	(6)	61	(26)
Net cash provided by operating activities	30,410	42,304	39,743
Investing activities:
Purchases of investment securities	(43,882)	(37,654)	(44,882)
Sales/redemptions of investment securities	41,600	45,420	43,726
Purchases of property and equipment	(13,256)	(20,986)	(23,932)
Insurance proceeds related to investing activities	195	443	421
Net cash used in investing activities	(15,343)	(12,777)	(24,667)
Financing activities:
Excess tax benefits from stock-based payment arrangements			168
Cash used to settle withholding taxes on stock option exercises and the vesting of nonvested restricted stock	(1,048)	(1,062)	(1,594)
Dividends paid to stockholders	(4,207)	(4,232)	(3,513)
Repurchase of common stock	(40,400)	(25,035)
Net cash used in financing activities	(45,655)	(30,329)	(4,939)
Net (decrease) increase in cash and cash equivalents	(30,588)	(802)	10,137
Cash and cash equivalents:
Beginning of year	48,451	49,253	39,116
End of year	17,863	48,451	49,253
Supplemental disclosures of cash flow information:
Cash paid for interest	127	127	127
Cash payments of income taxes	7,237	2,646	4,720
Supplemental disclosures of noncash investing activities:
Accrual for purchases of property and equipment	$ 2,017	$ 1,474	$ 2,830

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock	Paid in Capital	Retained Earnings	Treasury Stock	Total
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 and restricted stock units	$ (1)	(1,595)			(1,596)
Net share settlement of nonvested shares and restricted stock units (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
Increase (Decrease) in Stockholders' Equity
Vesting of nonvested shares and 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 and restricted stock units	$ (1)	(1,063)			(1,064)
Net share settlement of nonvested shares and restricted stock units (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
Increase (Decrease) in Stockholders' Equity
Vesting of nonvested shares and restricted stock units	$ 1				$ 1
Vesting of nonvested shares and restricted stock units (in shares)	10,663
Issuance of nonvested shares to employees and directors under incentive plan (in shares)	80,045
Stock-based compensation expense		2,238			2,238
Net share settlement of nonvested shares and restricted stock units		(1,049)			(1,049)
Net share settlement of nonvested shares and restricted stock units (in shares)	(40,941)
Repurchase of common stock				$ (40,400)	(40,400)
Repurchase of common stock (in shares)				1,635,306
Dividends paid to stockholders			(4,207)		(4,207)
Net income			21,374		21,374
Balances at Feb. 02, 2019	$ 157	$ 91,794	$ 176,094	$ (80,620)	$ 187,425
Balances (in shares) at Feb. 02, 2019	15,827,713			3,669,476	15,827,713

Organization and Business	12 Months Ended
Organization and Business	Feb. 02, 2019
Organization and Business
Organization and Business	Citi Trends, Inc. Notes to Consolidated Financial Statements February 2, 2019, February 3, 2018 and January 28, 2017 (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 2, 2019, the Company operated 562 stores in 32 states.

Summary of Significant Accounting Policies

12 Months Ended

Feb. 02, 2019

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 2, 2019, February 3, 2018 and January 28, 2017 are referred to as fiscal 2018, fiscal 2017 and fiscal 2016, respectively, in the accompanying consolidated financial statements. Fiscal year 2017 is comprised of 53 weeks, while fiscal years 2018 and 2016 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 net realizable value 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 $1.3 million, $0.5 million and $0.3 million in fiscal 2018, 2017 and 2016, 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

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 at the point of sale when the customer pays for their purchase and receives the merchandise. Sales taxes collected by the Company from customers are excluded from revenue. Revenue from layaway sales is recognized at the point in time when the merchandise is paid for and control of the goods is transferred to the customer, thereby satisfying the Company’s performance obligation. Non-refundable layaway service fees are recognized in revenue when collected by the Company from customers. The Company defers revenue from the sale of gift cards and recognizes the associated revenue upon the redemption of the cards by customers to purchase merchandise. Breakage on gift cards is minimal as the cards are generally subject to escheat regulations of the state in which the gift card subsidiary is located.

Sales Returns

The Company allows customers to return merchandise for up to thirty days after the date of sale. Expected refunds to customers are recorded based on estimated margin using historical return information. Under Accounting Standard Update (“ASU”) 2014-09, the Company recorded an estimated refund liability of $0.3 million, included in the line item “Accrued expenses,” and the carrying value of a return asset of $0.2 million, presented separately from inventory, included in the line item “Prepaid and other current assets” on the consolidated balance sheets. The cumulative effect of the changes made to the February 2, 2019 consolidated balance sheet from the modified retrospective adoption of ASU 2014-09 on retained earnings was immaterial.

Disaggregation of Revenue

The Company’s 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.

In the following table, the Company’s revenue is disaggregated by major product line. The percentage of net sales related to each classification of its merchandise assortment for fiscal 2018, 2017 and 2016 was as follows:


	Percentage of Net Sales
	2018		2017		2016
Accessories	32	%	32	%	31	%
Children’s	23	%	23	%	23	%
Ladies’	22	%	23	%	24	%
Men’s	17	%	17	%	17	%
Home	6	%	5	%	5	%

(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 2018, 2017 and 2016 were $17.6 million, $17.4 million and $17.2 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 2018, 2017 and 2016:


	2018	2017	2016
Weighted average number of common shares outstanding	13,030,063	14,058,008	14,656,753
Incremental shares from assumed vesting of nonvested restricted stock	39,631	57,887	5,519
Average number of common shares and common stock equivalents outstanding	13,069,694	14,115,895	14,662,272

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 2018, 2017 and 2016, respectively, there were 0, 0 and 4,000 options outstanding to purchase shares of common stock excluded from the calculation of diluted earnings per share because of antidilution. For fiscal 2018, 2017 and 2016, respectively, there were 124,000, 125,000 and 237,000 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 2018, 2017 and 2016 was $1.7 million, $2.0 million and $2.5 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 both February 2, 2019 and February 3, 2018 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.

(r) Recent Accounting Pronouncements

Recently Adopted

In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). 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 adopted 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 did not have a material impact on the Company’s consolidated balance sheet, results of operations or cash flows. Additionally, the adoption of the ASU did not result in significant changes to the Company’s business processes, controls, systems.

Not Yet Adopted

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) which amends the existing guidance in ASC Topic 840, Leases. Additional amendments to the standard were issued subsequent to the initial release. The new standard requires lessees to recognize a right-of-use (“ROU”) asset and a lease liability on the balance sheet for leases with such obligations representing the discounted value of future lease payments. The Company will adopt the requirements of the new lease standard effective February 3, 2019, the first day of fiscal 2019. As part of the implementation process, the Company has assessed its lease arrangements and evaluated practical expedient and accounting policy elections. The Company is finalizing its evaluation of processes and controls, and has implemented necessary modifications to its existing lease system. In adopting the new lease standard, the Company will elect the optional transition method which will apply the standard as of the effective date, but will not apply the standard to the comparative periods previously presented in its consolidated financial statements. At the adoption date, the Company expects to recognize a cumulative effect adjustment to retained earnings as a result of the impairment of certain ROU assets. The new standard provides optional practical expedients in transition. The Company is electing the transition package of practical expedients allowed by the standard which permits it to not reassess prior conclusions regarding lease classification, identification and initial direct costs. Further, the Company is electing a short-term lease exception policy which permits it to not apply the recognition requirements of this standard to short-term leases (leases with terms of 12 months or less), as well as an accounting policy to account for lease and non-lease components as a single component for certain classes of assets. The Company is not electing the hindsight practical expedient.

The adoption of ASU 2016-02 will have a material impact on the Company's consolidated balance sheet due to the recognition of ROU assets and lease liabilities related to operating leases. The Company expects to record operating lease liabilities totaling approximately $130 million to $150 million based on the present value of the remaining minimum rental payments using a discount rate as of the date of adoption. The Company also expects to record corresponding ROU assets based on the operating lease liabilities as adjusted for prepaid and deferred rent, unamortized lease incentives and other transition adjustments. These estimates may differ from the actual amounts recorded upon adoption in fiscal 2019 as they are based on transition procedures completed to date. The Company does not expect a material impact to its consolidated statement of operations or consolidated statement of cash flows.

Property and Equipment, net

12 Months Ended

Feb. 02, 2019

Property and Equipment, net

Property and Equipment, net

(3) Property and Equipment, net

The components of property and equipment as of February 2, 2019 and February 3, 2018 are as follows (in thousands):


	February 2,		February 3,
	2019		2018
Land	$	479	$	479
Buildings		30,779		30,540
Leasehold improvements		97,825		93,653
Furniture, fixtures and equipment		132,067		127,816
Computer equipment		38,039		37,115
Construction in progress		2,993		1,873
		302,182		291,476
Accumulated depreciation		(245,958)		(229,699)
	$	56,224	$	61,777

Fair Value Measurements

12 Months Ended

Feb. 02, 2019

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 2, 2019, 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)	$	38,706	$	4	$	(37)	$	38,673
Obligations of states and municipalities (Level 2)		95		—		—		95
Bank certificates of deposit (Level 2)		11,549		—		—		11,549
	$	50,350	$	4	$	(37)	$	50,317
Long-term:
Obligations of the U.S. Treasury (Level 1)	$	4,956	$	—	$	(16)	$	4,940
Bank certificates of deposit (Level 2)		3,927		—		—		3,927
	$	8,883	$	—	$	(16)	$	8,867

The amortized cost and fair market value of investment securities as of February 2, 2019 by contractual maturity are as follows (in thousands):


			Fair
	Amortized		Market
	Cost		Value
Mature in one year or less	$	50,350	$	50,317
Mature after one year through five years		8,883		8,867
	$	59,233	$	59,184

As of February 3, 2018, 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 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 were 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

There were no changes among the levels in the three fiscal years ended February 2, 2019.

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. 02, 2019
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. 02, 2019

Income Taxes

Income Taxes

(6) Income Taxes

Income tax expense for fiscal 2018, 2017 and 2016 consists of the following (in thousands):


	2018		2017		2016
Current:
Federal	$	(4,326)	$	(5,249)	$	(3,759)
State		(1,390)		(948)		(779)
Total current		(5,716)		(6,197)		(4,538)
Deferred:
Federal		619		(3,078)		(1,541)
State		143		349		59
Total deferred		762		(2,729)		(1,482)
Total income tax expense	$	(4,954)	$	(8,926)	$	(6,020)

Income tax expense computed using the federal statutory rate is reconciled to the reported income tax expense as follows for fiscal 2018, 2017 and 2016 (in thousands):


	2018		2017		2016
Statutory rate applied to income before income taxes	$	(5,529)	$	(7,924)	$	(6,773)
Revaluation of net deferred tax assets due to the Tax Cuts and Jobs Act		—		(1,925)		—
State income taxes, net of federal benefit		(1,250)		(549)		(903)
State tax credits		276		252		226
State tax credits - valuation allowance (net of federal benefit)		10		(79)		—
Tax exempt interest		16		24		20
General business credits		1,409		1,273		1,605
Excess tax benefits from stock based compensation		140		70		—
Other		(26)		(68)		(195)
Income tax expense	$	(4,954)	$	(8,926)	$	(6,020)

The components of deferred tax assets and deferred tax liabilities as of February 2, 2019 and February 3, 2018 are as follows (in thousands):


	February 2,		February 3,
	2019		2018
Deferred tax assets:
Deferred rent amortization	$	652	$	558
Inventory capitalization		1,953		1,863
Book and tax depreciation differences		853		312
Vacation liability		653		585
State tax credits		2,863		2,676
Stock compensation		843		834
Legal expense reserve		178		73
Insurance liabilities		319		537
Other		412		342
Subtotal deferred tax assets		8,726		7,780
Less: State tax credits valuation allowance - net		(1,615)		(1,624)
Total deferred tax assets		7,111		6,156

Deferred tax liabilities:
Prepaid expenses		(572)		(379)
Total deferred tax liabilities		(572)		(379)
Net deferred tax asset	$	6,539	$	5,777

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 2013. 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 2, 2019, 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 2, 2019, the valuation allowance, net of federal tax benefit, totaled $1.6 million.

The effective income tax rate for fiscal 2018, 2017 and 2016 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 $1.7 million related to such credits in fiscal 2018, $1.3 million related to such credits in fiscal 2017 and $1.8 million related to such credits in fiscal 2016.

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 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 2017 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. In 2018, the Company’s effective income tax rate was significantly lower than previous years due to the reduction in the federal statutory tax rate.

Other Long-Term Liabilities

12 Months Ended

Feb. 02, 2019

Other Long-Term Liabilities

Other Long-Term Liabilities

(7) Other Long-Term Liabilities

The components of other long-term liabilities as of February 2, 2019 and February 3, 2018 are as follows (in thousands):


	February 2,		February 3,
	2019		2018
Deferred rent	$	2,344	$	2,148
Tenant improvement allowances		4,037		4,325
Other		1,814		1,960
	$	8,195	$	8,433

Stockholders' Equity

12 Months Ended

Feb. 02, 2019

Stockholders' Equity

Stockholders' Equity

(8) Stockholders’ Equity

Repurchases of common stock

In March 2018, the Company’s Board of Directors approved a program that authorized the repurchase of up to $25.0 million in shares of the Company’s common stock. During the first three quarters of fiscal 2018, the Company repurchased 866,748 shares of its common stock in the open market at an aggregate cost of $25.0 million.

In November 2018, the Company’s Board of Directors approved a new program that authorized the purchase of up to $25.0 million in shares of the Company’s common stock. During the thirteen weeks ended February 2, 2019, the Company repurchased 768,558 shares of its common stock in the open market at an aggregate cost of $15.4 million. At February 2, 2019, $9.6 million of shares remained available for purchase under this program.

Dividends

In fiscal 2018, the Company paid four quarterly dividends of $0.08 per common share on March 20, 2018, June 19, 2018, September 18, 2018 and December 26, 2018. On February 12, 2019, the Company’s Board of Directors declared a dividend of $0.08 per common share, which was paid on March 19, 2019 to stockholders of record as of March 5, 2019. 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 equal installments over three years from the date of grant. 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 2018, 2017 and 2016, compensation expense arising from time-based nonvested restricted stock grants and performance-based RSUs totaled $2.2 million, $1.6 million and $2.9 million, respectively.

A summary of activity related to time-based nonvested restricted stock grants during fiscal 2018 is as follows:


	Nonvested	Weighted Average
	Restricted	Grant Date
	Shares	Fair Value
Outstanding as of February 3, 2018	173,208	$	19.02
Granted	80,045		30.03
Vested	(90,033)		19.55
Forfeited	—		—
Outstanding as of February 2, 2019	163,220	$	24.09

In March 2018, the Company granted 8,400 RSUs to one employee. The RSUs had performance vesting criteria which were based upon the closing price of the Company’s stock achieving certain thresholds. The shares vest one-third upon achieving an average closing stock price for a 20 consecutive day period of $30.44; $35.01; and $40.26, respectively. The awards expire three years from the date of grant. On the date of grant, the Company expensed $137,000 which was the estimated fair market value. One of these thresholds was achieved in 2018.

In March 2018, the Company granted 8,401 RSUs to one employee. The RSUs had performance vesting criteria which were based upon the Company achieving certain thresholds of adjusted earnings before interest, taxes, depreciation and amortization (“EBITDA”). The shares vest one-third upon achieving trailing 12-month adjusted EBITDA levels of $51.4 million, $59.1 million, and $67.9, respectively. The awards expire three years from the date of grant. During 2018, the Company expensed $78,000 which was the estimated fair market value. None of these thresholds were achieved in 2018.

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 one-fourth 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 his shares. Three of these thresholds were achieved in 2017 and the final threshold was achieved in 2018.

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 one-fourth 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. Two of these thresholds were achieved in 2017 and the other two thresholds were achieved in 2018.

Income tax benefits or deficiencies arising from the fair market value of restricted stock shares at vesting versus the cumulative compensation cost of such shares are recorded as a component of income tax expense in the Company’s consolidated statement of operations. Such income tax benefits totaled $140,000 in fiscal 2018 and $70,000 in fiscal 2017.

Commitments and Contingencies

12 Months Ended

Feb. 02, 2019

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 2, 2019 are as follows (in thousands):


Fiscal Year:
2019	$	47,289
2020		39,294
2021		28,228
2022		16,880
2023		9,440
Thereafter		7,836
Total future minimum lease payments	$	148,967

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 $55.3 million, $53.0 million and $50.7 million in fiscal 2018, 2017 and 2016 (including $0.5 million, $0.5 million and $0.4 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. 02, 2019

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 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
Additions charged to costs and expenses		9,643		—
Deductions		(10,033)		(9)
Balance as of February 2, 2019	$	3,114	$	1,615

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. 02, 2019

Unaudited Quarterly Results of Operations

Unaudited Quarterly Results of Operations

(11) Unaudited Quarterly Results of Operations


	Quarter Ended
	Feb. 2		Nov. 3		Aug. 4		May 5		Feb. 3		Oct. 28		Jul. 29		Apr. 29
	2019		2018		2018		2018		2018 (1)		2017		2017		2017
	(in thousands, except per share and share amounts)
Statement of Operations Data:
Net sales	$	201,158	$	175,364	$	181,999	$	211,032	$	212,143	$	176,943	$	166,200	$	199,955

Cost of sales (exclusive of depreciation shown separately below)		(126,095)		(110,420)		(110,398)		(129,413)		(131,363)		(110,094)		(102,175)		(122,390)
Selling, general and administrative expenses		(61,459)		(61,189)		(62,285)		(63,005)		(65,623)		(61,118)		(59,834)		(60,487)
Depreciation		(4,636)		(4,600)		(4,676)		(4,974)		(5,020)		(4,976)		(4,589)		(4,298)
Asset impairment		(152)		(180)		(942)		—		(430)		—		(77)		—
Income (loss) from operations		8,816		(1,025)		3,698		13,640		9,707		755		(475)		12,780
Interest, net		334		282		325		258		228		178		178		149

Income (loss) before income taxes		9,150		(743)		4,023		13,898		9,935		933		(297)		12,929
Income tax (expense) benefit		(1,802)		237		(788)		(2,601)		(4,688)		(286)		87		(4,039)
Net income (loss)	$	7,348	$	(506)	$	3,235	$	11,297	$	5,247	$	647	$	(210)	$	8,890

Net income (loss) per common share: (2)
Basic	$	0.59	$	(0.04)	$	0.24	$	0.83	$	0.39	$	0.05	$	(0.01)	$	0.60
Diluted	$	0.59	$	(0.04)	$	0.24	$	0.83	$	0.38	$	0.05	$	(0.01)	$	0.60
Weighted average shares used to compute net income (loss) per common share:
Basic		12,447,209		12,780,472		13,314,470		13,578,100		13,567,870		13,563,295		14,381,738		14,719,130
Diluted		12,470,560		12,780,472		13,351,321		13,631,266		13,652,330		13,614,404		14,381,738		14,779,930

(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.

Subsequent Events	12 Months Ended
Subsequent Events	Feb. 02, 2019
Subsequent Events
Subsequent Events	(12)Subsequent Events On April 11, 2019, the Company entered into a Settlement Agreement with Macellum SPV III, LP, Macellum Management, LP, Macellum Advisors GP, LLC, and Jonathan Duskin, a member of our board of directors (collectively, “Macellum”), to settle the Company’s election contest with such persons in connection with the Company’s 2019 annual meeting of stockholders. Pursuant to the Settlement Agreement, the Company agreed to reimburse Macellum for certain documented out-of-pocket costs, fees and expenses incurred and paid in connection with proxy solicitation activities in an amount not to exceed $500,000.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Feb. 02, 2019

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

Sales Returns

Disaggregation of Revenue


	Percentage of Net Sales
	2018		2017		2016
Accessories	32	%	32	%	31	%
Children’s	23	%	23	%	23	%
Ladies’	22	%	23	%	24	%
Men’s	17	%	17	%	17	%
Home	6	%	5	%	5	%

Cost of Sales

(j) Cost of Sales

Earnings per Share

(k) Earnings per Share


	2018	2017	2016
Weighted average number of common shares outstanding	13,030,063	14,058,008	14,656,753
Incremental shares from assumed vesting of nonvested restricted stock	39,631	57,887	5,519
Average number of common shares and common stock equivalents outstanding	13,069,694	14,115,895	14,662,272

Advertising

(l) Advertising

The Company expenses advertising as incurred. Advertising expense for fiscal 2018, 2017 and 2016 was $1.7 million, $2.0 million and $2.5 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

Recent Accounting Pronouncements

(r) Recent Accounting Pronouncements

Recently Adopted

Not Yet Adopted

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Feb. 02, 2019

Summary of Significant Accounting Policies

Schedule of revenue from contracts with customers disaggregated by major product line


	Percentage of Net Sales
	2018		2017		2016
Accessories	32	%	32	%	31	%
Children’s	23	%	23	%	23	%
Ladies’	22	%	23	%	24	%
Men’s	17	%	17	%	17	%
Home	6	%	5	%	5	%

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


	2018	2017	2016
Weighted average number of common shares outstanding	13,030,063	14,058,008	14,656,753
Incremental shares from assumed vesting of nonvested restricted stock	39,631	57,887	5,519
Average number of common shares and common stock equivalents outstanding	13,069,694	14,115,895	14,662,272

Property and Equipment, net (Tables)

12 Months Ended

Feb. 02, 2019

Property and Equipment, net

Schedule of the components of property and equipment

The components of property and equipment as of February 2, 2019 and February 3, 2018 are as follows (in thousands):


	February 2,		February 3,
	2019		2018
Land	$	479	$	479
Buildings		30,779		30,540
Leasehold improvements		97,825		93,653
Furniture, fixtures and equipment		132,067		127,816
Computer equipment		38,039		37,115
Construction in progress		2,993		1,873
		302,182		291,476
Accumulated depreciation		(245,958)		(229,699)
	$	56,224	$	61,777

Fair Value Measurements (Tables)

12 Months Ended

Feb. 02, 2019

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)	$	38,706	$	4	$	(37)	$	38,673
Obligations of states and municipalities (Level 2)		95		—		—		95
Bank certificates of deposit (Level 2)		11,549		—		—		11,549
	$	50,350	$	4	$	(37)	$	50,317
Long-term:
Obligations of the U.S. Treasury (Level 1)	$	4,956	$	—	$	(16)	$	4,940
Bank certificates of deposit (Level 2)		3,927		—		—		3,927
	$	8,883	$	—	$	(16)	$	8,867

As of February 3, 2018, 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 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

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 2, 2019 by contractual maturity are as follows (in thousands):


			Fair
	Amortized		Market
	Cost		Value
Mature in one year or less	$	50,350	$	50,317
Mature after one year through five years		8,883		8,867
	$	59,233	$	59,184

The amortized cost and fair market value of investment securities as of February 3, 2018 by contractual maturity were 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

- 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. 02, 2019

Income Taxes

Schedule of income tax (benefit) expense

Income tax expense for fiscal 2018, 2017 and 2016 consists of the following (in thousands):


	2018		2017		2016
Current:
Federal	$	(4,326)	$	(5,249)	$	(3,759)
State		(1,390)		(948)		(779)
Total current		(5,716)		(6,197)		(4,538)
Deferred:
Federal		619		(3,078)		(1,541)
State		143		349		59
Total deferred		762		(2,729)		(1,482)
Total income tax expense	$	(4,954)	$	(8,926)	$	(6,020)

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 2018, 2017 and 2016 (in thousands):


	2018		2017		2016
Statutory rate applied to income before income taxes	$	(5,529)	$	(7,924)	$	(6,773)
Revaluation of net deferred tax assets due to the Tax Cuts and Jobs Act		—		(1,925)		—
State income taxes, net of federal benefit		(1,250)		(549)		(903)
State tax credits		276		252		226
State tax credits - valuation allowance (net of federal benefit)		10		(79)		—
Tax exempt interest		16		24		20
General business credits		1,409		1,273		1,605
Excess tax benefits from stock based compensation		140		70		—
Other		(26)		(68)		(195)
Income tax expense	$	(4,954)	$	(8,926)	$	(6,020)

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 2, 2019 and February 3, 2018 are as follows (in thousands):


	February 2,		February 3,
	2019		2018
Deferred tax assets:
Deferred rent amortization	$	652	$	558
Inventory capitalization		1,953		1,863
Book and tax depreciation differences		853		312
Vacation liability		653		585
State tax credits		2,863		2,676
Stock compensation		843		834
Legal expense reserve		178		73
Insurance liabilities		319		537
Other		412		342
Subtotal deferred tax assets		8,726		7,780
Less: State tax credits valuation allowance - net		(1,615)		(1,624)
Total deferred tax assets		7,111		6,156

Deferred tax liabilities:
Prepaid expenses		(572)		(379)
Total deferred tax liabilities		(572)		(379)
Net deferred tax asset	$	6,539	$	5,777

Other Long-Term Liabilities (Tables)

12 Months Ended

Feb. 02, 2019

Other Long-Term Liabilities

Schedule of components of other long-term liabilities

The components of other long-term liabilities as of February 2, 2019 and February 3, 2018 are as follows (in thousands):


	February 2,		February 3,
	2019		2018
Deferred rent	$	2,344	$	2,148
Tenant improvement allowances		4,037		4,325
Other		1,814		1,960
	$	8,195	$	8,433

Stockholders' Equity (Tables)

12 Months Ended

Feb. 02, 2019

Stockholders' Equity

Schedule of activity related to nonvested restricted stock grants


	Nonvested	Weighted Average
	Restricted	Grant Date
	Shares	Fair Value
Outstanding as of February 3, 2018	173,208	$	19.02
Granted	80,045		30.03
Vested	(90,033)		19.55
Forfeited	—		—
Outstanding as of February 2, 2019	163,220	$	24.09

Commitments and Contingencies (Tables)

12 Months Ended

Feb. 02, 2019

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 2, 2019 are as follows (in thousands):


Fiscal Year:
2019	$	47,289
2020		39,294
2021		28,228
2022		16,880
2023		9,440
Thereafter		7,836
Total future minimum lease payments	$	148,967

Valuation and Qualifying Accounts (Tables)

12 Months Ended

Feb. 02, 2019

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 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
Additions charged to costs and expenses		9,643		—
Deductions		(10,033)		(9)
Balance as of February 2, 2019	$	3,114	$	1,615

Unaudited Quarterly Results of Operations (Tables)

12 Months Ended

Feb. 02, 2019

Unaudited Quarterly Results of Operations

Schedule of unaudited quarterly results of operations


	Quarter Ended
	Feb. 2		Nov. 3		Aug. 4		May 5		Feb. 3		Oct. 28		Jul. 29		Apr. 29
	2019		2018		2018		2018		2018 (1)		2017		2017		2017
	(in thousands, except per share and share amounts)
Statement of Operations Data:
Net sales	$	201,158	$	175,364	$	181,999	$	211,032	$	212,143	$	176,943	$	166,200	$	199,955

Cost of sales (exclusive of depreciation shown separately below)		(126,095)		(110,420)		(110,398)		(129,413)		(131,363)		(110,094)		(102,175)		(122,390)
Selling, general and administrative expenses		(61,459)		(61,189)		(62,285)		(63,005)		(65,623)		(61,118)		(59,834)		(60,487)
Depreciation		(4,636)		(4,600)		(4,676)		(4,974)		(5,020)		(4,976)		(4,589)		(4,298)
Asset impairment		(152)		(180)		(942)		—		(430)		—		(77)		—
Income (loss) from operations		8,816		(1,025)		3,698		13,640		9,707		755		(475)		12,780
Interest, net		334		282		325		258		228		178		178		149

Income (loss) before income taxes		9,150		(743)		4,023		13,898		9,935		933		(297)		12,929
Income tax (expense) benefit		(1,802)		237		(788)		(2,601)		(4,688)		(286)		87		(4,039)
Net income (loss)	$	7,348	$	(506)	$	3,235	$	11,297	$	5,247	$	647	$	(210)	$	8,890

Net income (loss) per common share: (2)
Basic	$	0.59	$	(0.04)	$	0.24	$	0.83	$	0.39	$	0.05	$	(0.01)	$	0.60
Diluted	$	0.59	$	(0.04)	$	0.24	$	0.83	$	0.38	$	0.05	$	(0.01)	$	0.60
Weighted average shares used to compute net income (loss) per common share:
Basic		12,447,209		12,780,472		13,314,470		13,578,100		13,567,870		13,563,295		14,381,738		14,719,130
Diluted		12,470,560		12,780,472		13,351,321		13,631,266		13,652,330		13,614,404		14,381,738		14,779,930

(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)	Feb. 02, 2019 item
Organization and Business
Number of stores operated	562
Number of states in which company operates	32

Summary of Significant Accounting Policies - PPE and Insurance Liabilities (Details) - USD ($)	12 Months Ended
	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Fiscal Year
Length of fiscal year	364 days	371 days	364 days
Impairment of long lived assets
Non-cash impairment expense related to leasehold improvements and fixtures and equipment	$ 1,300,000	$ 500,000	$ 300,000
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, fixtures and equipment \| Minimum
Property and Equipment, net
Estimated useful lives	3 years
Furniture, fixtures and equipment \| 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 Millions	12 Months Ended
	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Cost of Sales
Distribution center costs	$ 17.6	$ 17.4	$ 17.2

Summary of Significant Accounting Policies - Returns and Disaggregation of Revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Revenue, initial application period, cumulative effect transition
Period of time company allows customers to return merchandise	30 days
Estimated refund liability	$ 0.3
Carrying value of return asset	$ 0.2
Accessories
Revenue, initial application period, cumulative effect transition
Revenue from contracts with customers disaggregated by major product line (as a percent)	32.00%
Accessories \| Calculated under revenue guidance in effect before topic 606
Revenue, initial application period, cumulative effect transition
Revenue from contracts with customers disaggregated by major product line (as a percent)		32.00%	31.00%
Children's
Revenue, initial application period, cumulative effect transition
Revenue from contracts with customers disaggregated by major product line (as a percent)	23.00%
Children's \| Calculated under revenue guidance in effect before topic 606
Revenue, initial application period, cumulative effect transition
Revenue from contracts with customers disaggregated by major product line (as a percent)		23.00%	23.00%
Ladies'
Revenue, initial application period, cumulative effect transition
Revenue from contracts with customers disaggregated by major product line (as a percent)	22.00%
Ladies' \| Calculated under revenue guidance in effect before topic 606
Revenue, initial application period, cumulative effect transition
Revenue from contracts with customers disaggregated by major product line (as a percent)		23.00%	24.00%
Men's
Revenue, initial application period, cumulative effect transition
Revenue from contracts with customers disaggregated by major product line (as a percent)	17.00%
Men's \| Calculated under revenue guidance in effect before topic 606
Revenue, initial application period, cumulative effect transition
Revenue from contracts with customers disaggregated by major product line (as a percent)		17.00%	17.00%
Home
Revenue, initial application period, cumulative effect transition
Revenue from contracts with customers disaggregated by major product line (as a percent)	6.00%
Home \| Calculated under revenue guidance in effect before topic 606
Revenue, initial application period, cumulative effect transition
Revenue from contracts with customers disaggregated by major product line (as a percent)		5.00%	5.00%

Summary of Significant Accounting Policies - EPS, Advertising and Leases (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Feb. 02, 2019	Nov. 03, 2018	Aug. 04, 2018	May 05, 2018	Feb. 03, 2018	Oct. 28, 2017	Jul. 29, 2017	Apr. 29, 2017	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Advertising
Advertising expense									$ 1.7	$ 2.0	$ 2.5
Operating Leases
Liability for estimated expenses to be incurred upon the termination of entity's operating leases	$ 0.8				$ 0.8				$ 0.8	$ 0.8
Reconciliation of average number of common shares outstanding used to calculate basic and diluted earnings per share
Weighted average number of common shares outstanding	12,447,209	12,780,472	13,314,470	13,578,100	13,567,870	13,563,295	14,381,738	14,719,130	13,030,063	14,058,008	14,656,753
Incremental shares from assumed vesting of nonvested restricted stock									39,631	57,887	5,519
Average number of common shares and common stock equivalents outstanding	12,470,560	12,780,472	13,351,321	13,631,266	13,652,330	13,614,404	14,381,738	14,779,930	13,069,694	14,115,895	14,662,272
Stock Options
Securities excluded from calculation of diluted earnings per share (in shares)									0	0	4,000
Restricted Stock
Securities excluded from calculation of diluted earnings per share (in shares)									124,000	125,000	237,000

Summary of Significant Accounting Policies - Segments and Concentration Risk (Details)	12 Months Ended
	Feb. 02, 2019 item
Summary of Significant Accounting Policies
Number of reporting units	1

Summary of Significant Accounting Policies - Recent Accounting Pronouncements (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 02, 2019	Feb. 03, 2019
Short-term lease term	12 months
Accounting Standards Update 2016-02 \| Minimum \| Forecast
Lease liability		$ 130
Right-of-use (“ROU”) asset		130
Accounting Standards Update 2016-02 \| Maximum \| Forecast
Lease liability		150
Right-of-use (“ROU”) asset		$ 150

Property and Equipment, net (Details) - USD ($) $ in Thousands	Feb. 02, 2019	Feb. 03, 2018
Property and Equipment, net
Property and equipment, gross	$ 302,182	$ 291,476
Accumulated depreciation	(245,958)	(229,699)
Property and Equipment, net	56,224	61,777
Land
Property and Equipment, net
Property and equipment, gross	479	479
Buildings
Property and Equipment, net
Property and equipment, gross	30,779	30,540
Leasehold improvements
Property and Equipment, net
Property and equipment, gross	97,825	93,653
Furniture, fixtures and equipment
Property and Equipment, net
Property and equipment, gross	132,067	127,816
Computer equipment
Property and Equipment, net
Property and equipment, gross	38,039	37,115
Construction in progress
Property and Equipment, net
Property and equipment, gross	$ 2,993	$ 1,873

Fair Value Measurements - Securities Carried at Amortized Cost Plus Accrued Interest (Details) - USD ($) $ in Thousands	Feb. 02, 2019	Feb. 03, 2018
Investment securities classified as held to maturity
Amortized Cost	$ 59,233	$ 56,951
Fair Market Value	59,184	56,809
Short-term Investments
Investment securities classified as held to maturity
Amortized Cost	50,350	31,500
Gross Unrealized Gains	4	1
Gross Unrealized Losses	(37)	(27)
Fair Market Value	50,317	31,474
Short-term Investments \| Obligations of the U.S. Treasury \| Fair Value, Inputs, Level 1
Investment securities classified as held to maturity
Amortized Cost	38,706
Gross Unrealized Gains	4
Gross Unrealized Losses	(37)
Fair Market Value	38,673
Short-term Investments \| Obligations of the U.S. Treasury \| Fair Value, Inputs, Level 2
Investment securities classified as held to maturity
Amortized Cost		10,162
Gross Unrealized Losses		(25)
Fair Market Value		10,137
Short-term Investments \| Obligations of states and municipalities \| Fair Value, Inputs, Level 2
Investment securities classified as held to maturity
Amortized Cost	95	8,111
Gross Unrealized Gains		1
Gross Unrealized Losses		(2)
Fair Market Value	95	8,110
Short-term Investments \| Bank certificates of deposit \| Fair Value, Inputs, Level 1
Investment securities classified as held to maturity
Amortized Cost		13,227
Fair Market Value		13,227
Short-term Investments \| Bank certificates of deposit \| Fair Value, Inputs, Level 2
Investment securities classified as held to maturity
Amortized Cost	11,549
Fair Market Value	11,549
Long Term Investments
Investment securities classified as held to maturity
Amortized Cost	8,883	25,451
Gross Unrealized Losses	(16)	(116)
Fair Market Value	8,867	25,335
Long Term Investments \| Obligations of the U.S. Treasury \| Fair Value, Inputs, Level 1
Investment securities classified as held to maturity
Amortized Cost	4,956	9,967
Gross Unrealized Losses	(16)	(116)
Fair Market Value	4,940	9,851
Long Term Investments \| Bank certificates of deposit \| Fair Value, Inputs, Level 2
Investment securities classified as held to maturity
Amortized Cost	3,927	15,484
Fair Market Value	$ 3,927	$ 15,484

Fair Value Measurements - Amortized Cost and Fair Market Value of Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Amortized Cost
Mature in one year or less	$ 50,350	$ 31,500
Mature after one year through five years	8,883	25,451
Total	59,233	56,951
Fair Market Value
Mature in one year or less	50,317	31,474
Mature after one year through five years	8,867	25,335
Fair Market Value	59,184	56,809
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. 02, 2019 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. 02, 2019	Nov. 03, 2018	Aug. 04, 2018	May 05, 2018	Feb. 03, 2018	Oct. 28, 2017	Jul. 29, 2017	Apr. 29, 2017	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Current:
Federal									$ 4,326	$ 5,249	$ 3,759
State									1,390	948	779
Total current									5,716	6,197	4,538
Deferred:
Federal									619	(3,078)	(1,541)
State									143	349	59
Total deferred									762	(2,729)	(1,482)
Total income tax (expense) benefit	$ (1,802)	$ 237	$ (788)	$ (2,601)	$ (4,688)	$ (286)	$ 87	$ (4,039)	$ (4,954)	$ (8,926)	$ (6,020)

Income Taxes - Reconciliation of Federal Statutory Tax Rate (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Feb. 02, 2019	Nov. 03, 2018	Aug. 04, 2018	May 05, 2018	Feb. 03, 2018	Oct. 28, 2017	Jul. 29, 2017	Apr. 29, 2017	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Reconciliation of income tax (benefit) expense computed using the federal statutory rate to the reported income tax (benefit) expense
Statutory rate applied to income before income taxes									$ (5,529)	$ (7,924)	$ (6,773)
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									(1,250)	(549)	(903)
State tax credits									276	252	226
State tax credits - valuation allowance (net of federal benefit)									10	(79)
Tax exempt interest									16	24	20
General business credits									1,409	1,273	1,605
Excess tax benefits from stock based compensation									140	70
Other									(26)	(68)	(195)
Total income tax (expense) benefit	$ (1,802)	$ 237	$ (788)	$ (2,601)	$ (4,688)	$ (286)	$ 87	$ (4,039)	$ (4,954)	$ (8,926)	$ (6,020)

Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Feb. 02, 2019	Feb. 03, 2018
Deferred tax assets:
Deferred rent amortization	$ 652	$ 558
Inventory capitalization	1,953	1,863
Book and tax depreciation differences	853	312
Vacation liability	653	585
State tax credits	2,863	2,676
Stock compensation	843	834
Legal expense reserve	178	73
Insurance liabilities	319	537
Other	412	342
Subtotal deferred tax assets	8,726	7,780
Less: State tax credits valuation allowance - net	(1,615)	(1,624)
Total deferred tax assets	7,111	6,156
Deferred tax liabilities:
Prepaid expenses	(572)	(379)
Total deferred tax liabilities	(572)	(379)
Net deferred tax asset	$ 6,539	$ 5,777

Income Taxes - Income Tax (Benefit) Expense Components (Details)	3 Months Ended	12 Months Ended			13 Months Ended	23 Months Ended
	Feb. 03, 2018 USD ($)	Feb. 02, 2019 USD ($) item	Feb. 03, 2018 USD ($)	Jan. 28, 2017 USD ($)	Feb. 02, 2019 USD ($)	Dec. 31, 2017
Income Taxes
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		$ 1,700,000	$ 1,300,000	$ 1,800,000
Federal statutory tax rate		33.70%			21.00%	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

Other Long-Term Liabilities (Details) - USD ($) $ in Thousands	Feb. 02, 2019	Feb. 03, 2018
Other Long-Term Liabilities
Deferred rent	$ 2,344	$ 2,148
Tenant improvement allowances	4,037	4,325
Other	1,814	1,960
Other long-term liabilities total	$ 8,195	$ 8,433

Stockholders' Equity - Stock Repurchase Program and Cash Dividends (Details) $ / shares in Units, $ in Thousands						3 Months Ended				9 Months Ended	12 Months Ended
	Feb. 12, 2019 $ / shares	Dec. 26, 2018 $ / shares	Sep. 18, 2018 $ / shares	Jun. 19, 2018 $ / shares	Mar. 20, 2018 $ / shares	Feb. 02, 2019 USD ($) item shares	Nov. 03, 2018 shares	Aug. 04, 2018 shares	May 05, 2018 shares	Nov. 03, 2018 USD ($)	Feb. 02, 2019 USD ($) item	Feb. 03, 2018 USD ($)	Nov. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)
Stockholders' Equity
Stock Repurchased During Period, Value											$ 40,400	$ 25,035
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	$ 0.08
Stock Repurchase Program
Stockholders' Equity
Stock Repurchased During Period, Shares \| shares						768,558	866,748	866,748	866,748
Stock Repurchased During Period, Value						$ 15,400				$ 25,000
Remaining value of shares available for repurchase						$ 9,600					$ 9,600
Stock Repurchase Program \| Maximum
Stockholders' Equity
Stock Repurchase Program, Authorized Amount													$ 25,000	$ 25,000

Stockholders' Equity - Time-Based Nonvested Restricted Stock Granted to Employees (Details) - Restricted Stock - USD ($) $ in Millions	12 Months Ended
	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Stockholders' Equity
Compensation expense	$ 2.2	$ 1.6	$ 2.9
Future compensation expense to be recognized	$ 2.2
Period for recognition of future compensation expense over the requisite service period	3 years
Employee
Stockholders' Equity
Vesting period	3 years
Director
Stockholders' Equity
Vesting period	1 year

Stockholders Equity - Activity for Time-Based Nonvested Restricted Stock Grants (Details) - Restricted Stock	12 Months Ended
	Feb. 02, 2019 $ / shares shares
Nonvested Restricted Shares
Outstanding at the beginning of the period (in shares) \| shares	173,208
Granted (in shares) \| shares	80,045
Vested (in shares) \| shares	(90,033)
Outstanding at the end of the period (in shares) \| shares	163,220
Weighted Average Grant Date Fair Value
Outstanding at the beginning of the period (in dollars per share) \| $ / shares	$ 19.02
Granted (in dollars per share) \| $ / shares	30.03
Vested (in dollars per share) \| $ / shares	19.55
Outstanding at the end of the period (in dollars per share) \| $ / shares	$ 24.09

Stockholders' Equity - Restricted Stock Units (Details)	1 Months Ended				3 Months Ended								12 Months Ended
Stockholders' Equity - Restricted Stock Units (Details)	Mar. 31, 2018 USD ($) item $ / shares shares	Mar. 31, 2017 USD ($) item $ / shares shares	Apr. 02, 2016	Mar. 31, 2016 USD ($) item $ / shares shares	Feb. 02, 2019 USD ($)	Nov. 03, 2018 USD ($)	Aug. 04, 2018 USD ($)	May 05, 2018 USD ($)	Feb. 03, 2018 USD ($)	Oct. 28, 2017 USD ($)	Jul. 29, 2017 USD ($)	Apr. 29, 2017 USD ($)	Feb. 02, 2019 USD ($) item shares	Feb. 03, 2018 USD ($) item	Jan. 28, 2017 USD ($)
Stockholders' Equity
Income tax benefit					$ 1,802,000	$ (237,000)	$ 788,000	$ 2,601,000	$ 4,688,000	$ 286,000	$ (87,000)	$ 4,039,000	$ 4,954,000	$ 8,926,000	$ 6,020,000
Restricted Stock
Stockholders' Equity
Compensation expense													2,200,000	1,600,000	$ 2,900,000
Income tax benefit													$ 140,000	$ 70,000
Granted (in shares) \| shares													80,045
Restricted Stock \| Employee
Stockholders' Equity
Vesting period													3 years
Restricted Stock \| Director
Stockholders' Equity
Vesting period													1 year
March 2016 RSU
Stockholders' Equity
Expiration period				3 years
Compensation expense				$ 238,000
Number of employees to whom awards are granted \| item				2
Percentage of vesting upon achieving specific performance			25.00%
Number of consecutive period for which closing stock price should be achieved to vest shares				20 days
First target price for vesting of shares (in dollars per share) \| $ / shares	$ 30.44			$ 20.75
Second target price for vesting of shares (in dollars per share) \| $ / shares	35.01			23.50
Third target price for vesting of shares (in dollars per share) \| $ / shares	$ 40.26			26.25
Fourth target price for vesting of shares (in dollars per share) \| $ / shares				$ 29.00
Number of thresholds achieved \| item													2	2
Granted (in shares) \| shares				24,816
March 2017 RSU
Stockholders' Equity
Expiration period		3 years
Compensation expense		$ 306,000
Number of employees to whom awards are granted \| item		2
Percentage of vesting upon achieving specific performance		25.00%
Number of consecutive period for which closing stock price should be achieved to vest shares		20 days
First target price for vesting of shares (in dollars per share) \| $ / shares		$ 19.10
Second target price for vesting of shares (in dollars per share) \| $ / shares		21.70
Third target price for vesting of shares (in dollars per share) \| $ / shares		24.30
Fourth target price for vesting of shares (in dollars per share) \| $ / shares		$ 26.90
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 2018 RSU
Stockholders' Equity
Expiration period	3 years
Compensation expense	$ 137,000
Percentage of vesting upon achieving specific performance	33.00%
Number of consecutive period for which closing stock price should be achieved to vest shares	20 days
Number of employees to whom awards are granted who subsequently resigned \| item	1
Number of thresholds achieved \| item													1
Granted (in shares) \| shares	8,400
March 2018 EBITDA RSU
Stockholders' Equity
Expiration period	3 years
Compensation expense	$ 78,000
Number of employees to whom awards are granted \| item	1
Percentage of vesting upon achieving specific performance	33.00%
Trailing month EBITDA should be achieved to vest shares under the share based compensation plan	12 months
First adjusted EBITDA level for vesting of shares under the share based compensation plan	$ 51,400,000
Second adjusted EBITDA level for vesting of shares under the share based compensation plan	59,100,000
Third adjusted EBITDA level for vesting of shares under the share based compensation plan	$ 67,900,000
Number of thresholds achieved													0
Granted (in shares) \| shares	8,401

Commitments and Contingencies - Future Minimum Rent Payments (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Commitments and Contingencies
Initial term	5 years
Rent expense	$ 55,300	$ 53,000	$ 50,700
Rent expense as a percentage of net sales	500	$ 500	$ 400
Future minimum rent payments under operating leases
2019	47,289
2020	39,294
2021	28,228
2022	16,880
2023	9,440
Thereafter	7,836
Total future minimum lease payments	$ 148,967

Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended			13 Months Ended	23 Months Ended
	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017	Feb. 02, 2019	Dec. 31, 2017
Changes in the allowance for inventory shrinkage
Federal statutory tax rate	33.70%			21.00%	35.00%
Allowance for Inventory Shrinkage
Changes in the allowance for inventory shrinkage
Balance at the beginning of the period	$ 3,504	$ 3,099	$ 2,584		$ 2,584
Additions charged to costs and expenses	9,643	11,103	9,351
Deductions	(10,033)	(10,698)	(8,836)
Balance at the end of the period	3,114	3,504	3,099	$ 3,114
Allowance for Deferred Tax Assets
Changes in the allowance for inventory shrinkage
Balance at the beginning of the period	1,624	1,272	1,272		$ 1,272
Additions charged to costs and expenses		79
Impact of tax reform		273
Deductions	(9)
Balance at the end of the period	$ 1,615	$ 1,624	$ 1,272	$ 1,615

Unaudited Quarterly Results of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Feb. 02, 2019	Nov. 03, 2018	Aug. 04, 2018	May 05, 2018	Feb. 03, 2018	Oct. 28, 2017	Jul. 29, 2017	Apr. 29, 2017	Feb. 02, 2019	Feb. 03, 2018	Jan. 28, 2017
Statement of Income Data:
Net sales	$ 201,158	$ 175,364	$ 181,999	$ 211,032	$ 212,143	$ 176,943	$ 166,200	$ 199,955	$ 769,553	$ 755,241	$ 695,175
Cost of sales (exclusive of depreciation shown separately below)	(126,095)	(110,420)	(110,398)	(129,413)	(131,363)	(110,094)	(102,175)	(122,390)	(476,326)	(466,022)	(428,167)
Selling, general and administrative expenses	(61,459)	(61,189)	(62,285)	(63,005)	(65,623)	(61,118)	(59,834)	(60,487)	(247,938)	(247,062)	(230,666)
Depreciation	(4,636)	(4,600)	(4,676)	(4,974)	(5,020)	(4,976)	(4,589)	(4,298)	(18,886)	(18,883)	(17,090)
Asset impairment	(152)	(180)	(942)		(430)		(77)		(1,274)	(507)	(313)
Income from operations	8,816	(1,025)	3,698	13,640	9,707	755	(475)	12,780	25,129	22,767	18,939
Interest, net	334	282	325	258	228	178	178	149
Income before income taxes	9,150	(743)	4,023	13,898	9,935	933	(297)	12,929	26,328	23,500	19,351
Income tax expense	(1,802)	237	(788)	(2,601)	(4,688)	(286)	87	(4,039)	(4,954)	(8,926)	(6,020)
Net income	$ 7,348	$ (506)	$ 3,235	$ 11,297	$ 5,247	$ 647	$ (210)	$ 8,890	$ 21,374	$ 14,574	$ 13,331
Net income (loss) per common share: (2)
Basic (in dollars per share)	$ 0.59	$ (0.04)	$ 0.24	$ 0.83	$ 0.39	$ 0.05	$ (0.01)	$ 0.60	$ 1.64	$ 1.04	$ 0.91
Diluted (in dollars per share)	$ 0.59	$ (0.04)	$ 0.24	$ 0.83	$ 0.38	$ 0.05	$ (0.01)	$ 0.60	$ 1.64	$ 1.03	$ 0.91
Weighted average shares used to compute net income (loss) per common share:
Basic	12,447,209	12,780,472	13,314,470	13,578,100	13,567,870	13,563,295	14,381,738	14,719,130	13,030,063	14,058,008	14,656,753
Diluted	12,470,560	12,780,472	13,351,321	13,631,266	13,652,330	13,614,404	14,381,738	14,779,930	13,069,694	14,115,895	14,662,272

Subsequent Events (Details)	Apr. 11, 2019 USD ($)
Subsequent Events \| Maximum
Subsequent Events
Settlement agreement paid	$ 500,000