0000950170-24-034763 | 10-K | XBRL Viewer

Charge in valuation allowance

^[1]

$ (179)

$ (47,594)

$ (12,421)

Deferred taxes, net of valuation allowance

9,329

(31,624)

Valuation allowance

$ 2,200

2,400

Federal net operating loss carry forwards expiration period maximum

2037

Deferred tax assets

$ 60,800

Deferred tax liabilities

37,000

Deferred tax assets, valuation allowance

2,245

2,425

Income taxes paid

1,600

$ 500

$ 600

Excise tax on stock buybacks

1.00%

Accrued for excise taxes payable

200

Federal

Net operating loss carryforwards subject to expiration

3,600

Net operating loss carryforwards not subject to expiration

39,900

State and Local Jurisdiction

Net operating loss carryforwards

$ 51,800

State and Local Jurisdiction | Maximum

State and Local Jurisdiction | Minimum

2045

2024

Canada

Net operating loss carryforwards

$ 5,300

Canada | Maximum

2041

Canada | Minimum

2025

[1]	The change in the valuation allowance at January 28, 2023 included a non-recurring income tax benefit of $31.6 million in connection with the Company’s substantial release of the valuation allowance in fiscal 2022 related to the deferred tax assets expected to be realized in future periods.

Employee Benefit Plans

12 Months Ended

Feb. 03, 2024

Postemployment Benefits [Abstract]

Employee Benefit Plans

J. EMPLOYEE BENEFIT PLANS

The Company accounted for its employee benefit plans in accordance with ASC Topic 715, Compensation – Retirement Benefits. ASC Topic 715 requires an employer to: (a) recognize in its statement of financial position an asset for a plan’s over-funded status or a liability for a plan’s under-funded status; (b) measure a plan’s assets and its obligations that determine its funded status as of the end of the employer’s fiscal year (with limited exceptions); and (c) recognize changes in the funded status of a defined benefit postretirement plan in the year in which the changes occur.

Noncontributory Pension Plan

In connection with the Casual Male acquisition in May 2002, the Company assumed the assets and liabilities of the Casual Male Noncontributory Pension Plan “Casual Male Corp. Retirement Plan”, which was previously known as the J. Baker, Inc. Qualified Plan (the “Pension Plan”). Casual Male Corp. froze all future benefits under this plan on May 1, 1997.

On May 3, 2023, the Audit Committee approved the termination of the Pension Plan, which was then approved and ratified by the Board of Directors on May 4, 2023 with a final termination approval on June 8, 2023. By the end of fiscal 2023, the Company completed the settlement of all plan assets. Results for fiscal 2023, included a charge of $5.6 million, representing recognition of the of the unrealized loss in "Accumulated Other Comprehensive Loss" on the Consolidated Balance Sheet.

The following table sets forth the Pension Plan’s funded status at February 3, 2024 and January 28, 2023:


	February 3, 2024			January 28, 2023
	in thousands
Change in benefit obligation:
Balance at beginning of period	$	11,454		$	14,361
Benefits and expenses paid		(347	)		(818	)
Interest costs		294			414
Settlements		(10,877	)		(358	)
Actuarial (gain) loss		(524	)		(2,145	)
Balance at end of year	$	—		$	11,454

Change in fair value of plan assets:
Balance at beginning of period	$	9,591		$	11,293
Actual return on plan assets		(34	)		(1,050	)
Employer contributions		2,106			524
Settlements		(11,316	)		(358	)
Benefits and expenses paid		(347	)		(818	)
Balance at end of period	$	—		$	9,591

Reconciliation of funded status:
Projected benefit obligation	$	—		$	11,454
Fair value of plan assets		—			9,591
Unfunded status	$	—		$	(1,863	)

Balance sheet classification:
Other long-term liabilities	$	—		$	1,863

Total plan expense and other amounts recognized in accumulated other comprehensive loss for the years ended February 3, 2024, January 28, 2023 and January 29, 2022 include the following components:


	February 3, 2024			January 28, 2023			January 29, 2022
Net pension cost:	(in thousands)
Interest cost on projected benefit obligation	$	294		$	414		$	373
Expected return on plan assets		(325	)		(723	)		(728	)
Amortization of unrecognized loss		133			270			314
Net pension cost	$	102		$	(39	)	$	(41	)

Other changes recognized in other comprehensive loss, before taxes:
Unrecognized losses at the beginning of the year	$	5,490		$	6,132		$	6,914
Net periodic pension cost		(102	)		39			41
Employer contribution		2,106			524			622
Recognition of the unrealized loss		(5,631	)		—			—
Change in plan assets and benefit obligations		(1,863	)		(1,205	)		(1,445	)
Unrecognized losses at the end of year	$	—		$	5,490		$	6,132

In connection with the partial settlement in the second quarter of fiscal 2023, a remeasurement of the pension obligation was completed as of June 30, 2023. Assumptions used to determine the benefit obligations as of February 3, 2024, June 30, 2023 and January 28, 2023 include a discount rate of 5.14%, 5.21% and 4.79%, respectively. Assumptions used to determine the net periodic benefit cost for the six months ended February 3, 2024, for the six months ended June 30, 2023 and for the fiscal years ended January 28, 2023 and January 29, 2022 included a discount rate of 5.21%, 4.79%, 3.00% and 2.39%, respectively.

The expected long-term rate of return for plan assets was assumed to be 5.10% and 6.50% at the beginning of fiscal 2023 and fiscal 2022, respectively. The expected long-term rate of return for plan assets was assumed to be 6.00% at June 30, 2023. The expected long-term rate of return assumption was developed considering historical and future expectations for returns for each asset class.

Plan Assets

There were no plan assets at the end of fiscal 2023. The fair values of the Company’s noncontributory defined benefit retirement plan assets at the end of fiscal 2022, by asset category, was as follows:


	Fair Value Measurement
	January 28, 2023
(in thousands)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Asset category:
Mutual Funds:
U.S. Equity	$	3,743		—		—	$	3,743
International Equity		2,592		—		—		2,592
Fixed Income		1,333		—		—		1,333
Cash		1,923		—		—		1,923
Total	$	9,591	$	—	$	—	$	9,591

Supplemental Executive Retirement Plan

In connection with the Casual Male acquisition, the Company also assumed the liability of the Casual Male Supplemental Retirement Plan (the “SERP”).

On May 3, 2023, the Audit Committee approved the termination of the SERP, which was then approved and ratified by the Board of Directors on May 4, 2023. During fiscal 2023, the Company completed the termination of the SERP though the purchase of a nonparticipating annuity. In connection with that termination, the Company made a cash contribution of $0.4 million and recognized a loss on the termination of the plan of $57,000, which included the recognition of the unrealized loss of $31,000 in Accumulated Other Comprehensive Loss.

The following table sets forth the SERP’s funded status at February 3, 2024 and January 28, 2023:


	February 3, 2024			January 28, 2023

	in thousands
Change in benefit obligation:
Balance at beginning of period	$	427		$	514
Benefits and expenses paid		(27	)		(40	)
Settlements		(385	)		—
Interest costs		13			14
Actuarial (gain) loss		(28	)		(61	)
Balance at end of year	$	—		$	427

Change in fair value of plan assets:
Balance at beginning of period	$	—		$	—
Employer contributions		466			40
Settlements		(439	)		—
Benefits and expenses paid		(27	)		(40	)
Balance at end of period	$	—		$	—

Projected benefit obligation	$	—		$	427

Reconciliation of funded status:
Projected benefit obligation	$	—		$	427
Fair value of plan assets		—			—
Unfunded Status	$	—		$	(427	)

Balance sheet classification:
Other long-term liabilities	$	—		$	427

Other changes recognized in other comprehensive loss, before taxes (in thousands):


	February 3, 2024			January 28, 2023			January 29, 2022
	in thousands
Other changes recognized in other comprehensive loss, before taxes:
Unrecognized losses at the beginning of the year	$	31		$	95		$	120
Net periodic pension cost		(13	)		(17	)		(16	)
Recognized loss from settlement		(57	)		—			—
Employer contribution		466			40			40
Change in benefit obligations		(427	)		(87	)		(49	)
Unrecognized losses at the end of year	$	-		$	31		$	95

Assumptions used to determine the benefit obligations as of February 3, 2024 and January 28, 2023 included a discount rate of 5.76% for fiscal 2023 and 4.75% for fiscal 2022. Assumptions used to determine the net periodic benefit cost for the years ended February 3, 2024, January 28, 2023 and January 29, 2022 included a discount rate of 4.75% for fiscal 2023, 2.90% for fiscal 2022 and 2.24% for fiscal 2021.

Defined Contribution Plan

The Company has one defined contribution plan, the Destination XL Group, Inc. 401(k) Savings Plan (the “401(k) Plan”). Under the 401(k) Plan, the Company offers a qualified automatic contribution arrangement (“QACA”) with the Company matching 100% of the first 1% of deferred compensation and 50% of the next 5% (with a maximum contribution of 3.5% of eligible compensation). Employees who are 21 years of age or older are eligible to make deferrals after 6 months of employment and are eligible to receive a Company match after one year of employment and 1,000 hours.

The Company recognized $2.4 million, $2.1 million and $2.0 million of expense under the 401(k) Plan in fiscal 2023, 2022 and 2021, respectively.

The entire disclosure for retirement benefits.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

Employee Benefit Plans - Fair Value of Noncontributory Defined Benefit Retirement Plan Assets (Details) - Noncontributory Pension Plan - USD ($) $ in Thousands	Jan. 28, 2023	Jan. 29, 2022
Defined Benefit Plan Disclosure [Line Items]
Defined benefit retirement plan assets, fair value	$ 9,591	$ 11,293
U.S. Equity Mutual Funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit retirement plan assets, fair value	3,743
International Equity Mutual Funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit retirement plan assets, fair value	2,592
Fixed Income Funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit retirement plan assets, fair value	1,333
Cash
Defined Benefit Plan Disclosure [Line Items]
Defined benefit retirement plan assets, fair value	1,923
Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Defined benefit retirement plan assets, fair value	9,591
Fair Value, Inputs, Level 1 \| U.S. Equity Mutual Funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit retirement plan assets, fair value	3,743
Fair Value, Inputs, Level 1 \| International Equity Mutual Funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit retirement plan assets, fair value	2,592
Fair Value, Inputs, Level 1 \| Fixed Income Funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit retirement plan assets, fair value	1,333
Fair Value, Inputs, Level 1 \| Cash
Defined Benefit Plan Disclosure [Line Items]
Defined benefit retirement plan assets, fair value	$ 1,923

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

Federal income tax at the statutory rate

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Feb. 03, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Income Taxes - Reconciliation between Statutory and Effective Income Tax Rates (Details) - USD ($)
$ in Thousands

12 Months Ended

Feb. 03, 2024

Jan. 28, 2023

Jan. 29, 2022

Income Tax Disclosure [Abstract]

$ 8,086

$ 12,250

$ 12,102

State taxes, net of federal tax benefit

1,000

656

721

State deferred taxes, net of federal benefit

1,418

1,558

Section 162(m) limitation

746

1,451

1,375

Permanent items

(199)

(1,002)

(893)

Taxes stranded in OCI released with termination of retirement plans

890

Charge in valuation allowance

^[1]

(179)

(47,594)

(12,421)

Adjustment to section 382 NOLs

(1,159)

1,159

Other, net

(66)

734

Total provision (benefit)

$ 10,537

$ (30,788)

$ 917

[1]	The change in the valuation allowance at January 28, 2023 included a non-recurring income tax benefit of $31.6 million in connection with the Company’s substantial release of the valuation allowance in fiscal 2022 related to the deferred tax assets expected to be realized in future periods.

Long-Term Incentive Plans - Additional Information (Details) $ in Millions	12 Months Ended
	Feb. 03, 2024 USD ($)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Incentive plan performance targets covering period	3 years
Vesting terms	The performance period for each LTIP is three years. Awards for any achievement of performance targets will not be granted until the performance targets are achieved and then will be subject to additional vesting through August 31, 2024, August 31, 2025 and August, 31, 2026, respectively. The time-based awards under the 2021-2023 LTIP, 2022-2024 LTIP and 2023-2025 LTIP vest in four equal installments through April 1, 2025, April 1, 2026, and April 1, 2027, respectively.
Time Based Vesting Schedule
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	50.00%
Time Based Vesting Schedule \| 2021-2023 LTIP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total expected compensation cost of long term incentive plans	$ 4.1
Total amortization period	49 months
Time Based Vesting Schedule \| 2022-2024 LTIP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total expected compensation cost of long term incentive plans	$ 4.8
Total amortization period	48 months
Time Based Vesting Schedule \| 2023-2025 LTIP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total expected compensation cost of long term incentive plans	$ 5.1
Total amortization period	47 months
Performance Based Vesting Schedule
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	50.00%
Performance Based Vesting Schedule \| 2021-2023 LTIP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total award approved for grant in future period	$ 3.0
Accrual for award to be granted	2.5
Performance Based Vesting Schedule \| 2022-2024 LTIP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Incentive accrual during period	$ 1.6
RSUs \| 2022-2024 LTIP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	50.00%
Stock Options \| 2021-2023 LTIP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	25.00%
Cash \| 2021-2023 LTIP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	75.00%
Cash \| 2022-2024 LTIP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	50.00%

Summary of Significant Accounting Policies - Potential Common Stock Equivalents Excluded from Computation of Diluted Earning Per Share (Details) - $ / shares shares in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti dilutive shares	85	102	302
Range of exercise prices of such options, minimum	$ 4.48	$ 4.48	$ 4.19
Range of exercise prices of such options, maximum	$ 6.59	$ 7.43	$ 5.50
RSUs (time-vested)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti dilutive shares	39	104

Income Taxes (Tables)

12 Months Ended

Feb. 03, 2024

Income Tax Disclosure [Abstract]

Components of Net Deferred Tax Assets

The components of the net deferred tax assets as of February 3, 2024 and January 28, 2023 were as follows (in thousands):


	February 3, 2024			January 28, 2023
Deferred tax assets, net:
Net operating loss carryforward	$	13,522		$	21,736
Accrued expenses and other		4,776			5,597
Operating lease liabilities		40,182			37,793
Goodwill and intangibles		(103	)		(62	)
Unrecognized loss on pension and pension expense		—			1,714
Inventory reserves		866			900
Foreign tax credit carryforward		486			486
Federal wage tax credit carryforward		824			824
State tax credits		147			147
Operating lease right-of-use assets		(35,937	)		(32,583	)
Property and equipment		(985	)		(2,672	)
Subtotal	$	23,778		$	33,880
Valuation allowance		(2,245	)		(2,425	)
Net deferred tax assets	$	21,533		$	31,455

Provision (benefit) for Income Taxes

The provision (benefit) for income taxes consisted of the following:


	FISCAL YEARS ENDED
	February 3, 2024		January 28, 2023			January 29, 2022
(in thousands)
Current:
Federal	$	—	$	—		$	—
State		1,200		830			912
Foreign		8		6			5
		1,208		836			917
Deferred:
Federal		7,911		(24,794	)		—
State		1,418		(6,830	)		—
Foreign		—		—			—
		9,329		(31,624	)		—
Total provision (benefit)	$	10,537	$	(30,788	)	$	917

Reconciliation between Statutory and Effective Income Tax Rates

The following is a reconciliation between the statutory and effective income tax rates in dollars for the provision (benefit) for income tax:


	FISCAL YEARS ENDED
	February 3, 2024			January 28, 2023			January 29, 2022

(in thousands)
Federal income tax at the statutory rate	$	8,086		$	12,250		$	12,102
State taxes, net of federal tax benefit		1,000			656			721
State deferred taxes, net of federal benefit		1,418			1,558			—
Section 162(m) limitation		746			1,451			1,375
Permanent items		(199	)		(1,002	)		(893	)
Taxes stranded in OCI released with termination of retirement plans		890			—			—
Change in valuation allowance (1)		(179	)		(47,594	)		(12,421	)
Adjustment to §382 NOLs		(1,159	)		1,159			—
Other, net		(66	)		734			33
Total provision (benefit)	$	10,537		$	(30,788	)	$	917

(1)

The change in the valuation allowance at January 28, 2023 included a non-recurring income tax benefit of $31.6 million in connection with the Company’s substantial release of the valuation allowance in fiscal 2022 related to the deferred tax assets expected to be realized in future periods.

Liability for Unrecognized Tax Benefits

The following table shows the liability for unrecognized tax benefits that were associated with a prior tax position related to exiting the Company’s direct business in Europe during fiscal 2013. The amount of unrecognized tax benefits was presented as a reduction in the reported amounts of the Company’s federal and state net operating losses carryforwards. No penalties or interest were accrued on this liability. In fiscal 2023, the Company changed this position in its tax return and determined that the liability was no longer necessary.


	FISCAL YEARS ENDED
	February 3, 2024			January 28, 2023		January 29, 2022
(in thousands)
Balance at the beginning of the fiscal year	$	2,000		$	2,000	$	2,000
Changes due to tax positions from current year		—			—		—
Changes due to tax positions from prior years		(2,000	)		—		—
Changes due to lapsing of statute of limitations		—			—		—
Balance at the end of the fiscal year	$	—		$	2,000	$	2,000

Debt Obligations - Additional Information (Details)			12 Months Ended
Debt Obligations - Additional Information (Details)	Apr. 20, 2023	Oct. 28, 2021 USD ($) Days	Feb. 03, 2024 USD ($)	Jan. 28, 2023 USD ($)	Jan. 29, 2022 USD ($)
Debt Instrument [Line Items]
Prepayment penalty fees					$ 1,111,000
Outstanding obligations paid					100,030,000
Revolver Facility
Debt Instrument [Line Items]
Line of credit facility, amount outstanding			$ 0
Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 125,000,000
Minimum loan cap percentage		10.00%
Line of credit facility		$ 7,500,000
Line of credit facility, maturity date		Oct. 28, 2026
Debt instrument, interest rate terms			borrowings under the Credit Facility bear interest at either a Base Rate or Daily Simple SOFR rate, at the Company's option. Base Rate loans will bear interest at a rate equal to (i) the greater of: (a) the Prime Rate, (b) the Federal Funds effective rate plus 0.50% per annum and (c) the Daily Simple SOFR rate plus 1.00% per annum (provided the Base Rate shall never be less than the Floor (as defined in the Credit Facility)), plus (ii) a varying percentage, based on the Company’s average excess availability, of either 0.25% or 0.50% (the “Applicable Margin”). Daily Simple SOFR loans will bear interest at a rate equal to (i) the Daily Simple SOFR rate plus an adjustment of 0.10% (provided the Daily Simple SOFR rate shall never be less than the Floor), plus (ii) the Applicable Margin.
Debt instrument, covenant description			(i) 10% of the Revolving Loan Cap (the lesser of the aggregate revolving commitments or the borrowing base) and (ii) $7.5 million, then the Company is required to maintain a minimum consolidated fixed charge coverage ratio of 1.0:1.0 until such time as availability has exceeded the greater of (1) 10% of the Revolving Loan Cap and (2) $7.5 million for 30 consecutive days.
Minimum consolidated fixed charge coverage ratio		1
Number of consecutive days \| Days		30
Line of credit facility, remaining borrowing capacity			$ 69,800,000
Line of credit facility, average unused excess availability			$ 84,500,000
Unused line fee	0.25%
Credit Facility \| Federal Funds Rate
Debt Instrument [Line Items]
Line of credit facility, basis spread on variable rate	0.50%
Credit Facility \| SOFR-based Borrowings
Debt Instrument [Line Items]
Line of credit facility, basis spread on variable rate	1.00%
Credit Facility \| Prime Interest Rate
Debt Instrument [Line Items]
Line of credit facility interest rate			8.75%
Credit Facility \| Minimum \| SOFR-based Borrowings
Debt Instrument [Line Items]
Line of credit facility, basis spread on variable rate	0.25%
Credit Facility \| Maximum \| SOFR-based Borrowings
Debt Instrument [Line Items]
Line of credit facility, basis spread on variable rate	0.50%
Credit Facility \| Commercial And Standby Letter Of Credits
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 20,000,000
Credit Facility \| Swing Line Loans
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 15,000,000
Credit Facility \| Standby Letters of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount			$ 4,300,000
Credit Facility \| Documentary Letters of Credit
Debt Instrument [Line Items]
Letters of credit outstanding, amount			1,000,000
Credit Facility \| SOFR Loans \| SOFR-based Borrowings
Debt Instrument [Line Items]
Line of credit facility, basis spread on variable rate	0.10%
New FILO Loan
Debt Instrument [Line Items]
Prepayment penalty fees					1,100,000
Interest and fees paid			$ 300,000	$ 400,000	$ 3,200,000

Revenue Recognition (Tables)

12 Months Ended

Feb. 03, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

As noted above under Segment Information in Note A, the Company’s business at February 3, 2024 consists of one reportable segment, its retail segment. Substantially all of the Company’s revenue is generated from its stores and direct businesses. In the first quarter of fiscal 2022, the Company ended its relationship with its primary wholesale customer. Accordingly, the Company has determined that the following sales channels depict the nature, amount, timing, and uncertainty of how revenue and cash flows are affected by economic factors for each of the following fiscal years:



(in thousands)	Fiscal 2023			Fiscal 2022			Fiscal 2021
Store sales	$	358,710	68.7%	$	375,618	68.9%	$	344,761	69.0%
Direct sales		163,105	31.3%		169,821	31.1%		154,891	31.0%
Retail segment		521,815	100.0%		545,439	100.0%		499,652	100.0%
Wholesale segment		—			399			5,369
Total sales	$	521,815		$	545,838		$	505,021

Summary of Significant Accounting Policies

12 Months Ended

Feb. 03, 2024

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

A. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Business

Destination XL Group, Inc. (collectively with its subsidiaries referred to as the “Company”) is the largest specialty retailer in the United States of big & tall men’s clothing and shoes. The Company operates under the trade names of Destination XL®, DXL®, DXL Men’s Apparel, DXL Outlets®, Casual Male XL® and Casual Male XL Outlets. At February 3, 2024, the Company operated 232 DXL stores, 17 Casual Male XL stores, 19 Casual Male XL outlets and 15 DXL outlets located throughout the United States, including an e-commerce site, www.dxl.com, and a mobile app.

Basis of Presentation

The consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany accounts, transactions and profits are eliminated.

The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from estimates.

Segment Reporting

The Company has two principal operating segments: its stores and its direct business. The Company considers its stores and direct operating segments to be similar in terms of economic characteristics, production processes and operations, and has therefore aggregated them into one reportable segment, retail segment, consistent with its integrated commerce business approach.

Fiscal Year

The Company’s fiscal year is a 52-week or 53-week period ending on the Saturday closest to January 31. Fiscal 2023 was a 53-week period which ended on February 3, 2024. Fiscal 2022 and fiscal 2021 were each 52-week periods, which ended on January 28, 2023, January 29, 2022, respectively.

Cash and Cash Equivalents

Cash and cash equivalents consist of cash in banks and short-term investments, which have a maturity of ninety days or less when acquired. Included in cash equivalents are credit card and debit card receivables from banks, which generally settle within two to four business days.

Short-Term Investments

Short-term investments consist of those investments that have a maturity date, when acquired, that is greater than three months and twelve months or less. These investments are classified as held-to-maturity and are carried at amortized cost, which approximates fair value due to the short period between purchase and maturity.

Concentration of Credit Risk

Cash and cash equivalents include amounts due from third party financial institutions, which from time to time, may be in excess of the Federal Deposit Insurance Corporation (“FDIC”) insurance limits. The Company is potentially exposed to a concentration of credit risk when cash and cash equivalent deposits in these financial institutions are in excess of FDIC limits. The Company considers the credit risk associated with these financial instruments to be minimal as cash and cash equivalents are held by financial institutions with high credit ratings and it has not historically sustained any credit losses associated with our cash and cash equivalents balances. In addition, its cash and cash equivalents and short-term investments include money market accounts with Citizens Bank, N.A. and investments in U.S. government-backed securities.

Accounts Receivable

Accounts receivable primarily include amounts due for rebates from certain vendors. For fiscal 2023, fiscal 2022 and fiscal 2021, the Company did not incur any losses on its accounts receivable.

Fair Value of Financial Instruments

Accounting Standards Codification (“ASC”) Topic 825, Financial Instruments, requires disclosure of the fair value of certain financial instruments. The carrying amounts of cash and cash equivalents, short-term investments, accounts receivable, accounts payable and accrued expenses approximate fair value because of the short maturity of these instruments. See Note K - Fair Value Measurement for information regarding the fair value of certain financial assets.

ASC Topic 820, Fair Value Measurements and Disclosures, defines fair value, establishes a framework for measuring fair value and enhances disclosures about fair value measurements.

The valuation techniques utilized are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect internal market assumptions. These two types of inputs create the following fair value hierarchy:

Level 1 – Quoted prices in active markets for identical assets or liabilities.

Level 2 – Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related asset or liabilities.

Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of assets or liabilities.

The Company utilizes observable market inputs (quoted market prices) when measuring fair value whenever possible.

Stores that have indicators of impairment and fail the recoverability test (based on undiscounted cash flows) are measured for impairment by comparing the fair value of the assets against their carrying value. Fair value of the assets is estimated using a projected discounted cash flow analysis and is classified within Level 3 of the valuation hierarchy. See Impairment of Long-Lived Assets below.

Inventories

All inventories are valued at the lower of cost or market, using a weighted-average cost method.

Property and Equipment

Property and equipment are stated at cost. Major additions and improvements are capitalized while repairs and maintenance are charged to expense as incurred. Upon retirement or other disposition, the cost and related accumulated depreciation of the assets are removed from the accounts and the resulting gain or loss, if any, is reflected in the results of operations. Depreciation is computed on the straight-line method over the assets’ estimated useful lives as follows:


Furniture and fixtures		Five to ten years
Equipment		Five to ten years
Leasehold improvements		Lesser of useful lives or related lease term
Hardware and software		Three to seven years

Intangibles

Domain Name

In fiscal 2018, the Company purchased the rights to the domain name “dxl.com.” The domain name has a carrying value of $1.2 million and is considered an indefinite-lived asset. At each reporting period, management analyzes current events and circumstances to determine whether the indefinite life classification continues to be valid.

Advertising Costs

The Company expenses in-store advertising costs as incurred. Creative production costs, if any, are expensed in the period in which the advertising is first aired and media costs are expensed as incurred. Direct response advertising costs, if any, are expensed in the period in which the mailing occurs. There were no deferred direct response costs at February 3, 2024 and January 28, 2023. Advertising expense, which is included in selling, general and administrative expenses, was $30.9 million, $32.5 million and $24.0 million for fiscal 2023, fiscal 2022 and fiscal 2021, respectively.

Revenue Recognition

The Company’s accounting policies with respect to revenue recognition are discussed in Note B, “Revenue Recognition.”

Foreign Currency Translation

During fiscal 2022, the Company closed its store located in Toronto, Canada. Assets and liabilities for this store were translated into U.S. dollars at the exchange rates in effect at each balance sheet date. Stockholders’ equity was translated at applicable historical exchange rates. Income, expense and cash flow items were translated at average exchange rates during the period. Resulting translation adjustments were reported as a separate component of stockholders’ equity. Accordingly, in the fourth quarter of fiscal 2022, the Company recognized $66,000 related to the accumulated foreign currency transaction adjustment. See “Accumulated Other Comprehensive Income (Loss) – (“AOCI”)” below.

Accumulated Other Comprehensive Income (Loss) – (“AOCI”)

Other comprehensive income (loss) includes amounts related to foreign currency and pension plans and is reported in the Consolidated Statements of Comprehensive Income (Loss). Other comprehensive income (loss) and reclassifications from AOCI for fiscal 2023, fiscal 2022 and fiscal 2021 are as follows:


	Fiscal 2023			Fiscal 2022									Fiscal 2021
(in thousands)
	Retirement Plans			Retirement Plans			Foreign Currency			Total			Retirement Plans			Foreign Currency			Total
Balance at beginning of fiscal year	$	(4,928	)	$	(5,466	)	$	(59	)	$	(5,525	)	$	(6,224	)	$	3		$	(6,221	)

Other comprehensive income (loss) before reclassifications, net of taxes		(199	)		568			(7	)		561			799			(62	)		737

Recognition of loss on retirement plan terminations, net of taxes (1)		5,052			—			—			—			—			—			—

Recognition of accumulated foreign currency translation adjustment (2)		—			—			66			66			—			—			—

Amounts reclassified from accumulated other comprehensive income (loss), net of taxes (3)		75			(30	)		—			(30	)		(41	)		—			(41	)

Other comprehensive income (loss) for the period		4,928			538			59			597			758			(62	)		696

Balance at end of fiscal year	$	—		$	(4,928	)	$	—		$	(4,928	)	$	(5,466	)	$	(59	)	$	(5,525	)

(1)

In fiscal 2023, the Company terminated its pension plan and SERP and all obligations were settled through the purchase of nonparticipating annuities. Accordingly, the Company recognized the unrealized loss of its pension plans of $5.7 million, which is reflected in the "Loss from Termination of Retirement Plans" on the Consolidated Statement of Operations. The corresponding tax effect of $0.6 million, was recognized and is reflected as part of the income tax provision.

(2)

In connection with the Company’s closing of its remaining store in Toronto, Canada, in fiscal 2022, the Company recognized the accumulated foreign currency translation adjustment as an expense.

(3)

Includes the amortization through the date of settlement of the unrecognized (gain)/loss on retirement plans, which was charged to selling, general and administrative expense on the Consolidated Statements of Operations for all periods presented. The amortization of the unrecognized loss was $102,000, with a corresponding tax benefit of 27,000 for fiscal 2023. For fiscal 2022

and fiscal 2021, the Company recognized income of $39,000 and $41,000, respectively, as a result of a change in amortization from average remaining future service to average remaining lifetime. The corresponding tax provision for fiscal 2022 was $9,000. There was no related tax effect for fiscal 2021.

Income Taxes

Deferred income taxes are provided to recognize the effect of temporary differences between tax and financial statement reporting. Such taxes are provided for using enacted tax rates expected to be in place when such temporary differences are realized. A valuation allowance is recorded to reduce deferred tax assets if it is determined that it is more likely than not that the full deferred tax asset would not be realized. If it is subsequently determined that a deferred tax asset will more likely than not be realized, a credit to earnings is recorded to reduce the allowance. See Note F, Income Taxes.

ASC Topic 740, Income Taxes (“ASC 740”) clarifies a company’s accounting for uncertain income tax positions that are recognized in its financial statements and also provides guidance on a company’s de-recognition of uncertain positions, financial statement classification, accounting for interest and penalties, accounting for interim periods, and disclosure requirements. In accordance with ASC 740, the Company will recognize the benefit from a tax position only if it is more likely than not that the position would be sustained upon audit based solely on the technical merits of the tax position. The Company’s policy is to recognize accrued interest and penalties related to unrecognized tax benefits as income tax expense in its Consolidated Statement of Operations. The Company has not accrued or paid interest or penalties in amounts that were material to its results of operations for fiscal 2023, fiscal 2022 and fiscal 2021.

The Company is subject to U.S. federal income tax as well as income tax of multiple state and foreign jurisdictions. The Company has concluded all U.S. federal income tax matters for years through fiscal 2001, with remaining fiscal years subject to income tax examination by federal tax authorities.

Net Income Per Share

Basic earnings per share are computed by dividing net income by the weighted average number of shares of common stock outstanding during the respective period. Diluted earnings per share is determined by giving effect to unvested shares of deferred stock and restricted stock units (RSUs) and the exercise of stock options using the treasury stock method. The following table provides a reconciliation of the number of shares outstanding for basic and diluted earnings per share:


	FISCAL YEARS ENDED
	February 3, 2024		January 28, 2023		January 29, 2022
(in thousands)
Common stock outstanding:
Basic weighted average common shares outstanding		61,018		62,825		63,401
Common stock equivalents – stock options, deferred stock and RSUs		3,287		4,065		4,630
Diluted weighted average common shares outstanding		64,305		66,890		68,031

The following potential common stock equivalents were excluded from the computation of diluted earnings per share in each year because the exercise price of such options was greater than the average market price per share of common stock for the respective periods or because the unearned compensation associated with either stock options, RSUs, or deferred stock had an anti-dilutive effect.


	FISCAL YEARS ENDED
	February 3, 2024		January 28, 2023		January 29, 2022
(in thousands, except exercise prices)
Stock options (time-vested)		85		102		302
RSUs (time-vested)		39		104		—
Range of exercise prices of such options	$4.48 - $6.59		$4.48 - $7.43		$4.19 -$5.50

Excluded from the computation of basic and diluted earnings per share were 573,000 shares for fiscal 2023 and 240,000 shares in fiscal 2022 and fiscal 2021 of unvested performance stock units. These performance-based awards will be included in the computation of basic and diluted earnings per share if, and when, the respective performance targets are achieved. In addition, deferred stock of 435,568 shares for all three fiscal periods were excluded from basic earnings per share. Outstanding shares of deferred stock are not considered

issued and outstanding until the vesting date of the deferral period and are excluded from basic earnings per share until such shares are issued.

Stock-based Compensation

ASC Topic 718, Compensation – Stock Compensation, requires measurement of compensation cost for all stock awards at fair value on the date of grant and recognition of compensation over the service period for awards expected to vest. The fair value of stock options is determined using the Black-Scholes valuation model and requires the input of subjective assumptions. These assumptions include estimating the length of time employees will retain their vested stock options before exercising them (the “expected term”), the estimated volatility of the Company’s common stock price over the expected term and the number of options that will ultimately not complete their vesting requirements (“forfeitures”). As required under the accounting rules, the Company reviews its valuation assumptions at each grant date and, as a result, is likely to change its valuation assumptions used to value employee stock-based awards granted in future periods. The value derived from using the Black-Scholes model is recognized as expense over the vesting period, net of estimated forfeitures. The estimation of stock awards that will ultimately vest requires judgment. Actual results, and future changes in estimates, may differ from the Company’s current estimates.

During fiscal 2023, the Company granted performance stock units. The fair value and derived service periods of the award were calculated using the Monte Carlo model. See Note I "Stock Compensation Plans" for more discussion regarding the performance metrics and the valuation assumptions used to calculate the fair value and derived service periods.

The Company recognized total stock-based compensation expense of $2.5 million, $1.4 million and $1.2 million for fiscal 2023, fiscal 2022 and fiscal 2021, respectively. The increase in stock-based compensation in fiscal 2023 was primarily due to the grant of performance stock units in August 2023 that are being expensed over the derived service period, which was determined to be an average of 12.5 months.

The total stock-based compensation cost related to time-vested awards not yet recognized as of February 3, 2024 was approximately $3.4 million and will be expensed over a weighted average remaining life of approximately 22 months.

The total grant-date fair value of awards vested was $1.2 million, $2.5 million and $1.7 million for fiscal 2023, fiscal 2022 and fiscal 2021, respectively.

Any excess tax benefits resulting from the exercise of stock options or the release of restricted shares were recognized as a component of income tax expense in the period in which they occurred.

Valuation Assumptions - Stock Compensation

The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model based on the following assumptions in the table. The fair value of each non-vested share is equal to the closing price of the Company’s stock on the date of grant. The weighted-average fair value of options granted and non-vested shares granted shown below does not include shares granted to directors in lieu of compensation.


Fiscal years ended:	February 3, 2024	January 28, 2023	January 29, 2022
Expected volatility	86.3% - 92.1%	87.9% - 123.7%	97.4% - 104.9%
Risk-free interest rate	3.71%-4.42%	2.52% - 4.41%	0.31% - 0.60%
Expected life (in years)	2.5	2.0 - 3.5	3.0 - 4.0
Dividend rate	-	-	-
Weighted average fair value of options granted	$3.24	$3.58	$0.47
Weighted average fair value of non-vested shares granted	$4.47	$5.28	$0.66

Expected volatilities are based on historical volatilities of the Company’s common stock; the expected life represents the weighted average period of time that options granted are expected to be outstanding giving consideration to vesting schedules and historical exercise patterns; and the risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the option.

Impairment of Long-Lived Assets

The Company recorded an impairment charge of $0.1 million in fiscal 2023 and recorded a net gain of $0.2 million and $2.3 million in fiscal 2022 and fiscal 2021, respectively.

The Company reviews its long-lived assets for events or changes in circumstances that might indicate the carrying amount of the assets may not be recoverable. The Company’s judgment regarding the identification of impairment indicators is based on operational performance at the store level. Factors considered by the Company that could result in an impairment triggering event include significant changes in the use of assets, a current period operating or cash flow loss, underperformance of a store relative to historical or expected operating results, and an accumulation of costs significantly in excess of the amount originally expected for the construction of the long-lived store assets. The Company assesses the recoverability of the assets by determining whether the carrying value of such assets over their respective remaining lives can be recovered through projected undiscounted future cash flows. The model for undiscounted future cash flows includes assumptions, at the individual store level, with respect to expectations for future sales and gross margin rates as well as an estimate for occupancy costs used to estimate the fair value of the respective store’s operating lease right-of-use asset. The amount of impairment, if any, is measured based on projected discounted future cash flows using a discount rate reflecting the Company’s average cost of funds. With respect to the impairment charges taken on operating lease right-of-use assets, if the Company subsequently makes a decision to close previously impaired stores and a gain is realized as a result of the reevaluation of the existing lease liabilities, to the extent the gain related to previously recorded impairment charges against the right-of-use assets, the gain will be included as an offset to asset impairment charges with the remainder included as a reduction in store occupancy costs.

For fiscal 2023, the Company recorded a total asset impairment charge of $0.1 million, which included a write-down for certain store and operating lease right-of-use assets. For fiscal 2022 and fiscal 2021, the Company recognized non-cash gains of $0.6 million and $2.7 million, respectively, related to the Company's decision to close certain retail stores, with $0.4 million and $2.3 million, respectively, of the gains included as an offset to asset impairment charges and the remaining $0.2 million and $0.4 million, respectively, of the gains included as a reduction of store occupancy costs. Partially offsetting the gain of $0.4 million for fiscal 2022, was an impairment charge of $0.2 million related to the write-down of store assets.

Leases

The Company determines if an arrangement contains a lease at the inception of a contract. Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Right-of-use (“ROU”) assets and lease liabilities are recognized at the commencement date based on the present value of the remaining future minimum lease payments, initial direct costs and any lease incentives are included in the value of those ROU assets. As the interest rate implicit in the Company’s leases is not readily determinable, the Company utilizes its incremental borrowing rate, based on information available at the lease measurement date, to determine the present value of future payments. The Company elected the lessee non-lease component separation practical expedient, which permits the Company to not separate non-lease components from the lease components to which they relate. The Company also made an accounting policy election that the recognition requirement of ASC 842 will not be applied to certain, if any, non-store leases, with a term of 12 months or less, recognizing those lease payments on a straight-line basis over the lease term. At February 3, 2024, the Company had no short-term leases.

The Company’s store leases typically contain options that permit renewals for additional periods of up to five years each. In general, for store leases with an initial term of 10 years or more, the options to extend are not considered reasonably certain at lease commencement. For store leases with an initial term of 5 years, the Company evaluates each lease independently and, when the Company considers it reasonably certain that it will exercise an option to extend, the associated payment of that option will be included in the measurement of the ROU asset and lease liability. Renewal options are not included in the lease term for automobile and equipment leases because they are not considered reasonably certain of being exercised at lease commencement. Renewal options were not considered for the Company’s corporate headquarters and distribution center lease, which was entered into in 2006 and was for an initial 20-year term. At the end of the initial term, the Company will have the opportunity to extend this lease for six additional successive periods of five years.

For store leases, the Company accounts for lease components and non-lease components as a single lease component. Certain store leases may require additional payments based on sales volume, as well as reimbursement for real estate taxes, common area maintenance and insurance, and are expensed as incurred as variable lease costs. Other store leases contain one periodic fixed lease payment that includes real estate taxes, common area maintenance and insurance. These fixed payments are considered part of the lease payment and included in the ROU assets and lease liabilities. Tenant allowances are included as an offset to the right-of-use asset and amortized as reductions to rent expense over the associated lease term.

See Note E "Leases" for additional information.

Recently Issued Accounting Pronouncements - Adopted

In September 2022, the FASB issued Accounting Standards Update ("ASU") 2022-04, Liabilities – Supplier Finance Programs, which is intended to enhance the transparency surrounding the use of supplier finance programs in connection with the purchase of goods and services. The guidance requires companies that use supplier finance programs to make annual disclosures about the program’s key terms, the balance sheet presentation of related amounts, the confirmed amount outstanding at the end of the period and associated rollforward information. The new standard does not affect the recognition, measurement, or financial statement presentation of supplier finance program obligations. ASU 2022-04 was adopted in the first quarter of fiscal 2023, with the exception of the rollforward information, which is not effective until fiscal 2024. The adoption of ASU 2022-04 did not have a material effect on the Company's Consolidated Financial Statements as the Company does not participate in supplier finance programs.

Recently Issued Accounting Pronouncements - Not Yet Adopted

In July 2023, the FASB issued ASU 2023-03, Presentation of Financial Statements (Topic 205), Income Statement - Reporting Comprehensive Income (Topic 220), Distinguishing Liabilities from Equity (Topic 480), Equity (Topic 505), and Compensation - Stock Compensation (Topic 718): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 120, SEC Staff Announcement at the March 24, 2022 EITF Meeting, and Staff Accounting Bulletin Topic 6.B, Accounting Series Release 280 - General Revision of Regulation S-X: Income or Loss Applicable to Common Stock, which amends or supersedes various SEC paragraphs within the Accounting Standards Codification to conform to past SEC announcements and guidance issued by the SEC. The ASU does not provide any new guidance, and as such, there is no transition effective date. ASU 2023-03 is not expected to have a material impact on the Company's Consolidated Financial Statements.

In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendment in Response to the SEC’s Disclosure Update and Simplification Initiative. ASU-2023-06 incorporates several disclosure and presentation requirements currently residing in the SEC Regulations S-X and S-K. The amendments will be applied prospectively and are effective when the SEC removes the related requirements from Regulations S-X or S-K. Any amendments the SEC does not remove by June 30, 2027 will not be effective. The ASU is not expected to have a material impact on our consolidated financial statements or related disclosures because the Company is currently subjected to the reporting requirements of Regulations S-X and S-K.

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280), which requires all public entities to provide enhanced disclosures about significant segment expenses. The amendments in this ASU are to be applied retrospectively and are effective for our annual financial statements starting in fiscal 2025 and interim periods starting in fiscal 2026, with early adoption permitted. We are currently evaluating the impact of this accounting standard.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740), which enhances transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid and to improve the effectiveness of income tax disclosures. This ASU will be effective for fiscal year 2025, and allows for adoption on a prospective basis, with a retrospective option. Early adoption is permitted. We are currently evaluating the effect of adopting this new accounting standard.

No other new accounting pronouncements, issued or effective during fiscal 2023, have had or are expected to have a significant impact on the Company’s Consolidated Financial Statements.

Revenue Recognition - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Disaggregation Of Revenue [Line Items]
Total sales	$ 521,815	$ 545,838	$ 505,021
Retail Segment
Disaggregation Of Revenue [Line Items]
Total sales	$ 521,815	$ 545,439	$ 499,652
Retail Segment \| Sales Revenue Net \| Product Concentration Risk
Disaggregation Of Revenue [Line Items]
Total sales, percentage	100.00%	100.00%	100.00%
Retail Segment \| Store Sales
Disaggregation Of Revenue [Line Items]
Total sales	$ 358,710	$ 375,618	$ 344,761
Retail Segment \| Store Sales \| Sales Revenue Net \| Product Concentration Risk
Disaggregation Of Revenue [Line Items]
Total sales, percentage	68.70%	68.90%	69.00%
Retail Segment \| Direct Sales
Disaggregation Of Revenue [Line Items]
Total sales	$ 163,105	$ 169,821	$ 154,891
Retail Segment \| Direct Sales \| Sales Revenue Net \| Product Concentration Risk
Disaggregation Of Revenue [Line Items]
Total sales, percentage	31.30%	31.10%	31.00%
Wholesale Segment
Disaggregation Of Revenue [Line Items]
Total sales		$ 399	$ 5,369

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

Estimated Useful Life of Property and Equipment

Commitments and Contingencies - Additional Information (Details) $ in Millions	Feb. 03, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Merchandise purchase obligation, fiscal 2024	$ 10.0
Merchandise purchase obligation, fiscal 2025	10.0
Merchandise purchase obligation, fiscal 2026	10.0
Merchandise purchase obligation, fiscal 2027	10.0
Merchandise purchase obligation, fiscal 2028	$ 10.0

Leases - Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$ 51,411	$ 55,068	$ 57,816
Non-cash operating activities:
Right-of-use assets obtained in exchange for operating lease liabilities	$ 46,960	$ 26,239	$ 30,777
Weighted average remaining lease term	4 years 10 months 24 days	4 years 3 months 18 days	4 years 3 months 18 days
Weighted average discount rate	6.52%	6.39%	6.91%

Income Taxes - Liability for Unrecognized Tax Benefits (Details) $ in Thousands	12 Months Ended
	Feb. 03, 2024 USD ($)
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at the beginning of the fiscal year	$ 2,000
Changes due to tax positions from prior years	(2,000)
Balance at the end of the fiscal year	$ 0

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Feb. 03, 2024

Accounting Policies [Abstract]

Depreciation is computed on the straight-line method over the assets’ estimated useful lives as follows:


Furniture and fixtures		Five to ten years
Equipment		Five to ten years
Leasehold improvements		Lesser of useful lives or related lease term
Hardware and software		Three to seven years

Other Comprehensive Income (loss) and Reclassifications from AOCI


	Fiscal 2023			Fiscal 2022									Fiscal 2021
(in thousands)
	Retirement Plans			Retirement Plans			Foreign Currency			Total			Retirement Plans			Foreign Currency			Total
Balance at beginning of fiscal year	$	(4,928	)	$	(5,466	)	$	(59	)	$	(5,525	)	$	(6,224	)	$	3		$	(6,221	)

Other comprehensive income (loss) before reclassifications, net of taxes		(199	)		568			(7	)		561			799			(62	)		737

Recognition of loss on retirement plan terminations, net of taxes (1)		5,052			—			—			—			—			—			—

Recognition of accumulated foreign currency translation adjustment (2)		—			—			66			66			—			—			—

Amounts reclassified from accumulated other comprehensive income (loss), net of taxes (3)		75			(30	)		—			(30	)		(41	)		—			(41	)

Other comprehensive income (loss) for the period		4,928			538			59			597			758			(62	)		696

Balance at end of fiscal year	$	—		$	(4,928	)	$	—		$	(4,928	)	$	(5,466	)	$	(59	)	$	(5,525	)

(1)

(2)

In connection with the Company’s closing of its remaining store in Toronto, Canada, in fiscal 2022, the Company recognized the accumulated foreign currency translation adjustment as an expense.

(3)

Reconciliation of Number of Shares Outstanding for Basic and Diluted Earnings Per Share

The following table provides a reconciliation of the number of shares outstanding for basic and diluted earnings per share:


	FISCAL YEARS ENDED
	February 3, 2024		January 28, 2023		January 29, 2022
(in thousands)
Common stock outstanding:
Basic weighted average common shares outstanding		61,018		62,825		63,401
Common stock equivalents – stock options, deferred stock and RSUs		3,287		4,065		4,630
Diluted weighted average common shares outstanding		64,305		66,890		68,031

Potential Common Stock Equivalents Excluded from Computation of Diluted Earnings Per Share


	FISCAL YEARS ENDED
	February 3, 2024		January 28, 2023		January 29, 2022
(in thousands, except exercise prices)
Stock options (time-vested)		85		102		302
RSUs (time-vested)		39		104		—
Range of exercise prices of such options	$4.48 - $6.59		$4.48 - $7.43		$4.19 -$5.50

Valuation Assumptions for Stock Options


Fiscal years ended:	February 3, 2024	January 28, 2023	January 29, 2022
Expected volatility	86.3% - 92.1%	87.9% - 123.7%	97.4% - 104.9%
Risk-free interest rate	3.71%-4.42%	2.52% - 4.41%	0.31% - 0.60%
Expected life (in years)	2.5	2.0 - 3.5	3.0 - 4.0
Dividend rate	-	-	-
Weighted average fair value of options granted	$3.24	$3.58	$0.47
Weighted average fair value of non-vested shares granted	$4.47	$5.28	$0.66

Employee Benefit Plans - Total Plan Expense, Other Amounts, and Other Changes Recognized in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Noncontributory Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Interest cost on projected benefit obligation	$ 294	$ 414	$ 373
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Income (Expense), Net	Interest Income (Expense), Net	Interest Income (Expense), Net
Expected return on plan assets	$ (325)	$ (723)	$ (728)
Amortization of unrecognized loss	$ 133	$ 270	$ 314
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Depreciation, Depletion and Amortization, Nonproduction	Depreciation, Depletion and Amortization, Nonproduction	Depreciation, Depletion and Amortization, Nonproduction
Net pension cost	$ 102	$ (39)	$ (41)
Other changes recognized in other comprehensive loss, before taxes
Unrecognized losses at the beginning of the year	5,490	6,132	6,914
Net periodic pension cost	(102)	39	41
Employer contribution	2,106	524	622
Recognized loss from settlement	(5,631)
Change in benefit obligations	(1,863)	(1,205)	(1,445)
Unrecognized losses at the end of year		5,490	6,132
Supplemental Executive Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Interest cost on projected benefit obligation	$ 13	$ 14
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Income (Expense), Net	Interest Income (Expense), Net
Net pension cost	$ 13	$ 17	16
Other changes recognized in other comprehensive loss, before taxes
Unrecognized losses at the beginning of the year	31	95	120
Net periodic pension cost	(13)	(17)	(16)
Employer contribution	466	40	40
Recognized loss from settlement	(57)
Change in benefit obligations	$ (427)	(87)	(49)
Unrecognized losses at the end of year		$ 31	$ 95

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Cash flows from operating activities:
Net income	$ 27,854	$ 89,123	$ 56,713
Adjustments to reconcile net income to net cash provided by operating activities:
Loss from retirement plan terminations	5,690
Recognition of accumulated foreign currency translation adjustment		66
Amortization and write-off of deferred debt issuance costs	77	76	1,179
Impairment (gain) of assets	116	(159)	(2,344)
Depreciation and amortization	13,833	15,381	17,226
Gain on sale of equipment	(107)
Deferred taxes, net of valuation allowance	9,329	(31,624)
Stock compensation expense	2,496	1,384	1,229
Board of directors' stock compensation	443	501	374
Changes in operating assets and liabilities:
Accounts receivable	(2,786)	390	4,306
Inventories	12,036	(11,240)	3,264
Prepaid expenses and other current assets	(1,094)	(599)	(2,926)
Other assets	29	(80)	407
Accounts payable	(10,195)	2,383	(1,926)
Operating leases, net	(3,563)	(7,510)	(14,959)
Accrued expenses and other liabilities	(4,564)	1,852	12,998
Net cash provided by operating activities	49,594	59,944	75,541
Cash flows from investing activities:
Additions to property and equipment, net	(17,418)	(9,642)	(5,272)
Proceeds from sale of equipment	145
Purchase of short-term investments	(79,883)
Maturity of short-term investments	48,010
Net cash used for investing activities	(49,146)	(9,642)	(5,272)
Cash flows from financing activities:
Repurchase of common stock	(24,541)	(12,728)
Proceeds from issuance of common stock from private direct offering, net of offering costs			4,375
Proceeds from new FILO loan			17,500
Repayment of FILO loans			(32,500)
Borrowings under credit facility			40,297
Repayments under credit facility			(100,030)
Debt extinguishment costs			(1,111)
Debt issuance costs			(1,200)
Proceeds from the exercise of stock options	368	839	776
Tax withholdings paid related to net share settlements	(759)	(1,845)	(1,867)
Net cash used for financing activities	(24,932)	(13,734)	(73,760)
Net increase (decrease) in cash and cash equivalents	(24,484)	36,568	(3,491)
Cash and cash equivalents:
Beginning of period	52,074	15,506	18,997
End of period	$ 27,590	$ 52,074	$ 15,506

Leases - Summary of Components of Lease Costs (Details) - USD ($)
$ in Thousands

12 Months Ended

Feb. 03, 2024

Jan. 28, 2023

Jan. 29, 2022

Leases [Abstract]

Operating lease cost

$ 45,018

$ 44,297

$ 43,921

Variable lease costs

^[1]

12,849

12,885

13,290

Total lease costs

$ 57,867

$ 57,182

$ 57,211

[1]	Variable lease costs include the cost of property taxes, insurance and common area maintenance fees related to its leases.

Stock Compensation Plans - Summary of Activity for Non-Vested Shares under Two Thousand Six, Two Thousand Sixteen Plan And Inducement Awards (Details)	12 Months Ended
	Feb. 03, 2024 $ / shares shares
RSUs
Total number of shares
Shares vested/issued	(537,685)
Employee Stock Plan, 2006 Plan and 2016 Plan
Total number of shares
Outstanding non-vested shares at beginning of year	1,195,576
Shares granted	1,209,792
Shares forfeited	(53,180)
Shares expired	(240,000)
Shares vested/issued	(567,335)
Outstanding non-vested shares at end of year	1,544,853
Vested and expected to vest at end of year	971,853
Weighted-average Grant-Date Fair value
Outstanding non-vested shares at beginning of year \| $ / shares	$ 2.51
Shares granted \| $ / shares	4.47
Shares forfeited \| $ / shares	7.22
Shares expired \| $ / shares	1.07
Shares vested/issued \| $ / shares	4.07
Outstanding non-vested shares at end of year \| $ / shares	3.53
Vested and expected to vest at end of year \| $ / shares	$ 3.14
Employee Stock Plan, 2006 Plan and 2016 Plan \| RSUs
Total number of shares
Outstanding non-vested shares at beginning of year	520,008
Shares granted	607,142
Shares forfeited	(53,180)
Shares vested/issued	(537,685)
Outstanding non-vested shares at end of year	536,285
Vested and expected to vest at end of year	536,285
Employee Stock Plan, 2006 Plan and 2016 Plan \| Deferred stock
Total number of shares
Outstanding non-vested shares at beginning of year	435,568
Outstanding non-vested shares at end of year	435,568
Vested and expected to vest at end of year	435,568
Employee Stock Plan, 2006 Plan and 2016 Plan \| Performance Share Units
Total number of shares
Outstanding non-vested shares at beginning of year	240,000
Shares granted	573,000
Shares expired	(240,000)
Outstanding non-vested shares at end of year	573,000
Employee Stock Plan, 2006 Plan and 2016 Plan \| Fully-vest shares
Total number of shares
Shares granted	29,650
Shares vested/issued	(29,650)

Label	Element	Value
Unrecognized Tax Benefits	us-gaap_UnrecognizedTaxBenefits	$ 2,000,000
Unrecognized Tax Benefits	us-gaap_UnrecognizedTaxBenefits	$ 2,000,000

Stock Compensation Plans - Additional Information (Details) - shares		12 Months Ended
	Aug. 04, 2016	Feb. 03, 2024
Non Employee Directors
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares available for grant		634,534
Percentage of annual retainer		60.00%
2016 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Reduction in outstanding reserve for share granted	1.00%
Reduction in outstanding reserve for share granted, full-value award	1.90%
Shares authorised		15,120,538
Shares available for grant		2,177,876
Share-based compensation arrangement by share-based payment award, description		In accordance with the terms of the 2016 Plan, any shares outstanding under the previous 2006 Incentive Compensation Plan (the “2006 Plan”) at August 4, 2016 that subsequently terminate, expire or are cancelled for any reason without having been exercised or paid are added back and become available for issuance under the 2016 Plan, with stock options being added back on a one-for-one basis and full-value awards being added back on a 1 to 1.9 basis. At February 3, 2024, there were 75,487 stock options that remain outstanding under the 2006 Plan.
Percent of shares available for awards	5.00%
Share-based compensation description		Except with respect to 5% of the shares available for awards under the 2016 Plan, no award will become exercisable or otherwise forfeitable unless such award has been outstanding for a minimum period of one year from its date of grant.
2006 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock option outstanding		75,487

Revenue Recognition

12 Months Ended

Feb. 03, 2024

Revenue from Contract with Customer [Abstract]

Revenue Recognition

B. REVENUE RECOGNITION

Revenue is recognized in accordance with ASC 606, Revenue from Contracts with Customers. The Company operates as a retailer of big and tall men’s clothing, which includes sales through its stores and direct channels. Revenue is recognized by the operating segment that initiates a customer’s order. Store sales are defined as sales that originate and are fulfilled directly at the store level. Direct sales are defined as sales that originate online, including those initiated online at the store level, on its website or on third-party marketplaces. Sales from the wholesale business, which the Company operated until the first quarter of fiscal 2022, were defined as sales made to wholesale customers pursuant to the terms of each customer’s contract with the Company. Generally, all revenues are recognized when control of the promised goods is transferred to customers, in an amount that reflects the consideration in exchange for those goods. Sales tax collected from customers and remitted to taxing authorities is excluded from revenue and is included as part of accrued expenses on the Consolidated Balance Sheets.

Unredeemed Loyalty Coupons. The Company offers a free loyalty program to its customers for which points accumulate based on the purchase of merchandise. Under ASC 606, these loyalty points provide the customer with a material right and a distinct performance obligation with revenue deferred and recognized when the points are redeemed. The cycle of earning and redeeming loyalty points is generally under one year in duration. The loyalty accrual, net of breakage, was $1.7 million and $1.6 million at February 3, 2024 and January 28, 2023, respectively.

Unredeemed Gift Cards, Gift Certificates, and Credit Vouchers. Upon issuance of a gift card, gift certificate, or credit voucher, a liability is established for its cash value. The liability is relieved and net sales are recorded upon redemption by the customer. Based on historical redemption patterns, the Company can reasonably estimate the amount of gift cards, gift certificates, and credit vouchers for which redemption is remote, which is referred to as "breakage". Breakage is recognized over two years in proportion to historical redemption trends and is recorded as sales in the Consolidated Statements of Operations. The gift card liability, net of breakage, was $3.2 million and $3.4 million at February 3, 2024 and January 28, 2023, respectively.

Shipping. Shipping and handling costs are accounted for as fulfillment costs and are included in cost of sales for all periods presented. Amounts related to shipping and handling that are billed to customers are recorded in sales, and the related costs are recorded in cost of goods sold including occupancy costs, in the Consolidated Statements of Operations.

Disaggregation of Revenue



(in thousands)	Fiscal 2023			Fiscal 2022			Fiscal 2021
Store sales	$	358,710	68.7%	$	375,618	68.9%	$	344,761	69.0%
Direct sales		163,105	31.3%		169,821	31.1%		154,891	31.0%
Retail segment		521,815	100.0%		545,439	100.0%		499,652	100.0%
Wholesale segment		—			399			5,369
Total sales	$	521,815		$	545,838		$	505,021

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

Accumulated Other Comprehensive Income (Loss) [Line Items]

Summary of Significant Accounting Policies - Other Comprehensive Income (loss) and Reclassifications from AOCI (Parenthetical) (Details) - USD ($)	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Selling, general and administrative	$ 196,529,000	$ 198,790,000	$ 172,962,000
Income tax provision (benefit)	10,537,000	(30,788,000)	917,000
Supplemental Executive Retirement Plan
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized loss in accumulated other comprehensive loss	(57,000)
Casual Male Corp. Retirement Plan
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized loss in accumulated other comprehensive loss	5,600,000
Casual Male Corp. Retirement Plan \| Supplemental Executive Retirement Plan
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized loss in accumulated other comprehensive loss	(31,000)
Pension Plans \| Supplemental Executive Retirement Plan
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized loss in accumulated other comprehensive loss	5,700,000
Unrealized loss in accumulated other comprehensive loss, tax effect	600,000
Reclassification out of Accumulated Other Comprehensive Income \| Pension Plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Selling, general and administrative	102,000
Income recognized due to change in amortization		39,000	41,000
Income tax provision (benefit)	$ 27,000	$ 9,000	$ 0	$ 0

Summary of Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Feb. 03, 2024 USD ($) RenewalOption Segment Store shares	Jan. 28, 2023 USD ($) shares	Jan. 29, 2022 USD ($) shares	Feb. 02, 2019 USD ($)
Accounting Policies [Line Items]
Number of reportable segments \| Segment	1
Number of operating segments \| Segment	2
Direct response costs deferred	$ 0	$ 0
Accumulated foreign currency translation adjustment, recognized	66,000
Stock compensation expense	2,496,000	1,384,000	$ 1,229,000
Total grant-date fair value of options vested	1,200,000	2,500,000	1,700,000
Gain on impairment charges	$ 100,000	200,000	2,300,000
Gains offset to asset impairment charges		400,000
Impairment, Long-Lived Asset, Held-for-Use, Statement of Income or Comprehensive Income [Extensible Enumeration]	Asset impairment charge
Asset impairment charge	$ 116,000	(159,000)	(2,344,000)
Store occupancy cost offset amount		200,000	400,000
Non-cash gain on closing of retail stores		600,000	$ 2,700,000
Short term leases	$ 0
Operating lease, option to extend	Renewal options are not included in the lease term for automobile and equipment leases because they are not considered reasonably certain of being exercised at lease commencement. Renewal options were not considered for the Company’s corporate headquarters and distribution center lease, which was entered into in 2006 and was for an initial 20-year term.
Store
Accounting Policies [Line Items]
Operating lease, option to extend	The Company’s store leases typically contain options that permit renewals for additional periods of up to five years each. In general, for store leases with an initial term of 10 years or more, the options to extend are not considered reasonably certain at lease commencement. For store leases with an initial term of 5 years, the Company evaluates each lease independently and, when the Company considers it reasonably certain that it will exercise an option to extend, the associated payment of that option will be included in the measurement of the ROU asset and lease liability.
Operating lease renewal term	5 years
Operating lease initial term	10 years
Corporate Headquarter
Accounting Policies [Line Items]
Operating lease renewal term	5 years
Operating lease initial term	20 years
Number of renewal options \| RenewalOption	6
Store Assets
Accounting Policies [Line Items]
Impairment charge	$ 100,000	$ 200,000
Performance Stock Units
Accounting Policies [Line Items]
Shares excluded from computation of basic and diluted earnings per share \| shares	573,000	240,000	240,000
Derived service period	12 months 15 days
Deferred Stock
Accounting Policies [Line Items]
Shares excluded from computation of basic and diluted earnings per share \| shares	435,568		435,568
Time-Vested Awards
Accounting Policies [Line Items]
Unrecognized stock compensation cost	$ 3,400,000
Unrecognized stock compensation cost weighted average recognition period	22 months
Selling, General and Administrative Expenses
Accounting Policies [Line Items]
Advertising expenses	$ 30,900,000	$ 32,500,000	$ 24,000,000.0
Domain Name (dxl.com)
Accounting Policies [Line Items]
Indefinite-lived intangible assets, carrying value				$ 1,200,000
Minimum
Accounting Policies [Line Items]
Credit card and debit card receivables from banks settlement period	2 days
Minimum \| Store
Accounting Policies [Line Items]
Operating lease renewal term	5 years
Maximum
Accounting Policies [Line Items]
Credit card and debit card receivables from banks settlement period	4 days
Maximum \| Store
Accounting Policies [Line Items]
Operating lease renewal term	5 years
Operating lease initial term	10 years
DXL Stores \| UNITED STATES
Accounting Policies [Line Items]
Number of stores \| Store	232
Casual Male XL Retail and Outlet Stores \| UNITED STATES
Accounting Policies [Line Items]
Number of stores \| Store	17
Casual Male XL outlets
Accounting Policies [Line Items]
Number of stores \| Store	19
DXL Outlets \| UNITED STATES
Accounting Policies [Line Items]
Number of stores \| Store	15

Leases - Schedule of Reconciliation of Undiscounted Cash Flows Related to Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Feb. 03, 2024	Jan. 28, 2023
Leases [Abstract]
2024	$ 45,945
2025	42,651
2026	30,181
2027	22,765
2028	14,696
Thereafter	25,049
Total minimum lease payments	181,287
Less: amount of lease payments representing interest	26,750
Present value of future minimum lease payments	154,537
Less: current obligations under leases	37,221	$ 37,329
Noncurrent lease obligations	$ 117,316	$ 106,912

Summary of Significant Accounting Policies - Other Comprehensive Income (loss) and Reclassifications from AOCI (Details) - USD ($)
$ in Thousands

12 Months Ended

Feb. 03, 2024

Jan. 28, 2023

Jan. 29, 2022

Recognition of accumulated foreign currency translation adjustment (Note A)

$ 137,228

$ 58,219

$ (4,077)

4,928

597

696

Accumulated Other Comprehensive Income (Loss) [Line Items]

148,953

137,228

58,219

Pension Plans

Other comprehensive income (loss) before reclassifications, net of taxes

(4,928)

(5,466)

(6,224)

(199)

568

799

Recognition of loss on retirement plan termination, net of taxes

^[1]

5,052

Amounts reclassified from accumulated other comprehensive income (loss), net of taxes

^[2]

(30)

(41)

4,928

538

758

Accumulated Other Comprehensive Income (Loss) [Line Items]

(4,928)

(5,466)

Foreign Currency

Other comprehensive income (loss) before reclassifications, net of taxes

(59)

(7)

(62)

Recognition of accumulated foreign currency translation adjustment (Note A)

^[3]

(62)

Accumulated Other Comprehensive Income (Loss)

(59)

Accumulated Other Comprehensive Income (Loss) [Line Items]

Other comprehensive income (loss) before reclassifications, net of taxes

(4,928)

(5,525)

(6,221)

561

737

Recognition of accumulated foreign currency translation adjustment (Note A)

^[3]

Amounts reclassified from accumulated other comprehensive income (loss), net of taxes

^[2]

(30)

(41)

$ 4,928

597

696

Share-Based Payment Arrangement [Abstract]

$ (4,928)

$ (5,525)

[1]	In fiscal 2023, the Company terminated its pension plan and SERP and all obligations were settled through the purchase of nonparticipating annuities. Accordingly, the Company recognized the unrealized loss of its pension plans of $5.7 million, which is reflected in the "Loss from Termination of Retirement Plans" on the Consolidated Statement of Operations. The corresponding tax effect of $0.6 million, was recognized and is reflected as part of the income tax provision.
[2]	Includes the amortization through the date of settlement of the unrecognized (gain)/loss on retirement plans, which was charged to selling, general and administrative expense on the Consolidated Statements of Operations for all periods presented. The amortization of the unrecognized loss was $102,000, with a corresponding tax benefit of 27,000 for fiscal 2023. For fiscal 2022 and fiscal 2021, the Company recognized income of $39,000 and $41,000, respectively, as a result of a change in amortization from average remaining future service to average remaining lifetime. The corresponding tax provision for fiscal 2022 was $9,000. There was no related tax effect for fiscal 2021.
[3]	In connection with the Company’s closing of its remaining store in Toronto, Canada, in fiscal 2022, the Company recognized the accumulated foreign currency translation adjustment as an expense.

Long-Term Incentive Plans

12 Months Ended

Feb. 03, 2024

Long-Term Incentive Plans

H. LONG-TERM INCENTIVE PLANS

The following is a summary of the Company’s Long-Term Incentive Plan (“LTIP”). All equity awards granted under these long-term incentive plans were issued from the Company’s stockholder-approved 2016 Incentive Compensation Plan. See Note I, “Stock Compensation Plans.”

At February 3, 2024, the Company has three active LTIPs: 2021-2023 LTIP, 2022-2024 LTIP and 2023-2025 LTIP. Each participant in the plan participates based on that participant’s “Target Cash Value” which is defined as the participant’s annual base salary (on the participant’s effective date) multiplied by his or her LTIP percentage. Under each LTIP, 50% of each participant’s Target Cash Value is subject to time-based vesting and 50% is subject to performance-based vesting. The time-based awards under the 2021-2023 LTIP were granted in a combination of 25% stock options and 75% cash, and the time-based awards under the 2022-2024 LTIP and the 2023-2025 LTIP were granted in a combination of 50% RSUs and 50% cash.

Performance targets for the 2021-2023 LTIP, 2022-2024 LTIP and the 2023-2025 LITP were established and approved by the Compensation Committee on March 8, 2021, April 9, 2022 and May 1, 2023, respectively. The performance period for each LTIP is three years. Awards for any achievement of performance targets will not be granted until the performance targets are achieved and then will be subject to additional vesting through August 31, 2024, August 31, 2025 and August, 31, 2026, respectively. The time-based awards under the 2021-2023 LTIP, 2022-2024 LTIP and 2023-2025 LTIP vest in four equal installments through April 1, 2025, April 1, 2026, and April 1, 2027, respectively.

Assuming that the Company achieves the performance targets at target levels and all time-based awards vest, the compensation expense associated with the 2021-2023 LTIP, 2022-2024 LTIP and 2023-2025 LTIP is estimated to be approximately $4.1 million, $4.8 million and $5.1 million, respectively. Approximately half of the compensation expense for each LTIP relates to the time-based awards, which are being expensed straight-line over 49 months, 48 months and 47 months, respectively.

The performance targets under the 2021-2023 LTIP were achieved at the end of fiscal 2023. Awards granted pursuant to this achievement will be subject to further vesting through August 31, 2024. Accordingly, at February 3, 2024, $2.5 million of the expected $3.0 million for the performance award has been accrued.

At February 3, 2024, the Company accrued $1.6 million for the performance awards under the 2022-2024 LTIP and no accrual for the performance-based awards under the 2023-2025 LTIP.

Stock Compensation Plans - Common Stock Shares Issued to Non-Employee Directors as Compensation (Details) - Non Employee Directors - USD ($)	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares of common stock issued	59,532	73,024	232,910
Fair value of common stock issued	$ 301,578	$ 359,208	$ 374,227,000

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
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Schedule of Fair Value Measured at Recurring Basis

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ 27,854	$ 89,123	$ 56,713
Other comprehensive income (loss) before taxes:
Recognition of accumulated foreign currency translation adjustment		66
Foreign currency translation		(7)	(62)
Retirement plans	(167)	704	758
Recognized loss from termination of retirement plans	5,690
Other comprehensive income before taxes	5,523	763	696
Tax provision related to items of other comprehensive income	(595)	(166)
Other comprehensive income, net of tax	4,928	597	696
Comprehensive income	$ 32,782	$ 89,720	$ 57,409

Stock Compensation Plans - Summary of Activity for Non-Vested Shares under Two Thousand Six, Two Thousand Sixteen Plan And Inducement Awards (Parenthetical) (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Aug. 11, 2023	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares granted, vesting terms		The performance period for each LTIP is three years. Awards for any achievement of performance targets will not be granted until the performance targets are achieved and then will be subject to additional vesting through August 31, 2024, August 31, 2025 and August, 31, 2026, respectively. The time-based awards under the 2021-2023 LTIP, 2022-2024 LTIP and 2023-2025 LTIP vest in four equal installments through April 1, 2025, April 1, 2026, and April 1, 2027, respectively.
Expected term		2 years 6 months
Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term			2 years	3 years
Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term			3 years 6 months	4 years
Common Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares granted during the period, fair value		$ 5	$ 6	$ 8
Number of shares sold				11,111,000
Common Stock \| 2020-2022 LTIP
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares sold		385,073
Director
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares granted during the period, fair value		$ 141,742
Performance Stock Units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares granted during the period, fair value	$ 2,400
Weighted historical volatility rate	57.80%
Expected term	3 years
Stock price on date of grant	$ 4.98
Risk-free rate	4.60%
Share based compensation fair value assumptions cost of equity	11.00%
Performance Stock Units \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Derived service period	12 months
Performance Stock Units \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Derived service period	13 months
Performance Stock Units \| Mr. Kanter
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares granted	573,000
Vesting description	The award consists of nine tranches, with the first tranche vesting if and when the 30-day volume-weighted closing price of the Company's common stock is equal to or greater than $6.50 per share. Each subsequent tranche will vest upon achievement of the 30-day volume-weighted closing price of the Company's common stock in $0.25 installments with the ninth tranche vesting when such price is equal to or greater than $8.50 per share. The PSUs are subject to a one-year minimum vesting period, and any unvested PSUs will expire on August 11, 2026.
Volume-weighted closing price of the Company's common stock, number of days	30 days
Performance Stock Units \| Mr. Kanter \| First Tranche \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Closing price	$ 6.5
Performance Stock Units \| Mr. Kanter \| Ninth Tranche Vesting \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Closing price	$ 8.5
Restricted stock units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares vested		537,685

Property and Equipment - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Property, Plant and Equipment [Line Items]
Depreciation expenses	$ 13,800	$ 15,400	$ 17,200
Additions to property and equipment	43,238	39,062
Accounts Payable and Accrued Expenses
Property, Plant and Equipment [Line Items]
Additions to property and equipment	$ 2,300	$ 1,700	$ 1,100

Fair Value Measurement (Tables)

12 Months Ended

Feb. 03, 2024

Fair Value Disclosures [Abstract]

At February 3, 2024 and January 28, 2023, the Company held U.S. treasury bills which were classified as held-to maturity and carried at amortized cost.


			Fair Value
(in thousands)	Carrying value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
At February 3, 2024:
Cash equivalents		6,047		6,052		—		—
Short-term investments		32,459		32,479		—		—

At January 28, 2023						—		—
Cash equivalents		29,077		29,071		—		—

Stock Compensation Plans (Tables)

12 Months Ended

Feb. 03, 2024

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Common Stock Shares Issued to Non-Employee Directors as Compensation


	Number of shares of common stock issued		Fair value of common stock issued
Fiscal 2023		59,532	$	301,578
Fiscal 2022		73,024	$	359,208
Fiscal 2021		232,910	$	374,227

Employee Stock Plan, 2006 Plan and 2016 Plan

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Stock Option Activity

The following tables summarize the stock option activity under the Company’s 2006 Plan and 2016 Plan, on an aggregate basis, for fiscal 2023:


	Number of Shares			Weighted-average exercise price per option		Weighted-average remaining contractual term	Aggregate intrinsic value (000's)
Stock Options
Outstanding options at beginning of year		3,556,434		$	0.83		$	23,239
Options granted		1,317			5.91			—
Options canceled or expired		(47,749	)		4.32			55
Options exercised		(329,263	)		1.12			1,147
Outstanding options at end of year		3,180,739		$	0.75	6.4 yrs.	$	10,962
Options exercisable at end of year		1,941,707		$	0.80	6.2 yrs.	$	6,609
Vested and expected to vest at end of year		3,180,739		$	0.75	6.4 yrs.	$	10,962

Employee Stock Plan, 2006 Plan, 2016 Plan and Inducement Awards

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Restricted Stock Activity

The following table summarizes activity for non-vested shares under the Company’s 2006 Plan, 2016 Plan and Inducement Awards, on an aggregate basis, for fiscal 2023:


	RSUs (1)			Deferred shares (2)		Performance share units (3)			Fully-vest shares (4)			Total number of shares			Weighted-average grant-date fair value
Shares
Outstanding non-vested shares at beginning of year		520,008			435,568		240,000			—			1,195,576		$	2.51
Shares granted		607,142			—		573,000			29,650			1,209,792			4.47
Shares forfeited		(53,180	)		—		—			—			(53,180	)		7.22
Shares expired		—			—		(240,000	)		—			(240,000	)		1.07
Shares vested/issued		(537,685	)		—		—			(29,650	)		(567,335	)		4.07
Outstanding non-vested shares at end of year		536,285			435,568		573,000			—			1,544,853		$	3.53
Vested and expected to vest at end of year		536,285			435,568		—			—			971,853		$	3.14

(1)

(2)

(3)

(4)

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 27,854	$ 89,123	$ 56,713

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Defined Benefit Plan Disclosure [Line Items]

Employee Benefit Plans - Additional Information (Details) - USD ($)		6 Months Ended		12 Months Ended
	Jan. 01, 2015	Feb. 03, 2024	Jun. 30, 2023	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Loss from retirement plan terminations				$ (5,690,000)
Defined contribution plans eligible employees age	21 years
Defined contribution plan service period for eligibility	1000 hours
Defined contribution plan expenses recognized				$ 2,400,000	$ 2,100,000	$ 2,000,000
Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined contribution plan maximum employer contributions percentage of eligible compensation				3.50%
Minimum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined contribution plan service period for eligibility	6 months
Defined contribution plan service period for eligibility to receive match	1 year
First Contributions
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined contribution plan employer matching contribution percent				100.00%
Defined benefit plan employee contribution percentage				1.00%
Next Contributions
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined contribution plan employer matching contribution percent				50.00%
Defined benefit plan employee contribution percentage				5.00%
Casual Male Corp. Retirement Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Unrealized loss in accumulated other comprehensive loss				$ 5,600,000
Noncontributory Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Assumptions used to determine the benefit obligations, discount rate		5.14%	5.21%	5.14%	4.79%
Assumptions used to determine the net periodic benefit cost, discount rate		5.21%	4.79%		3.00%	2.39%
Expected long-term rate of return for benefit obligation and the net periodic benefit cost			6.00%	5.10%	6.50%
Fair value of plan assets					$ 9,591,000	$ 11,293,000
Cash contribution				$ 2,106,000	$ 524,000	$ 622,000
Unrealized loss in accumulated other comprehensive loss				$ (5,631,000)
Supplemental Executive Retirement Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Assumptions used to determine the benefit obligations, discount rate		5.76%		5.76%	4.75%
Assumptions used to determine the net periodic benefit cost, discount rate				4.75%	2.90%	2.24%
Cash contribution				$ 466,000	$ 40,000	$ 40,000
Unrealized loss in accumulated other comprehensive loss				(57,000)
Supplemental Executive Retirement Plan \| Casual Male Corp. Retirement Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Cash contribution				400,000
Loss from retirement plan terminations				(57,000)
Unrealized loss in accumulated other comprehensive loss				$ (31,000)

Employee Benefit Plans (Tables)

12 Months Ended

Feb. 03, 2024

Fair Value of Noncontributory Defined Benefit Retirement Plan Assets

The fair values of the Company’s noncontributory defined benefit retirement plan assets at the end of fiscal 2022, by asset category, was as follows:


	Fair Value Measurement
	January 28, 2023
(in thousands)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Asset category:
Mutual Funds:
U.S. Equity	$	3,743		—		—	$	3,743
International Equity		2,592		—		—		2,592
Fixed Income		1,333		—		—		1,333
Cash		1,923		—		—		1,923
Total	$	9,591	$	—	$	—	$	9,591

Noncontributory Pension Plan

Defined Benefit Plan Disclosure [Line Items]

Pension and Retirement Plan's Funded Status

The following table sets forth the Pension Plan’s funded status at February 3, 2024 and January 28, 2023:


	February 3, 2024			January 28, 2023
	in thousands
Change in benefit obligation:
Balance at beginning of period	$	11,454		$	14,361
Benefits and expenses paid		(347	)		(818	)
Interest costs		294			414
Settlements		(10,877	)		(358	)
Actuarial (gain) loss		(524	)		(2,145	)
Balance at end of year	$	—		$	11,454

Change in fair value of plan assets:
Balance at beginning of period	$	9,591		$	11,293
Actual return on plan assets		(34	)		(1,050	)
Employer contributions		2,106			524
Settlements		(11,316	)		(358	)
Benefits and expenses paid		(347	)		(818	)
Balance at end of period	$	—		$	9,591

Reconciliation of funded status:
Projected benefit obligation	$	—		$	11,454
Fair value of plan assets		—			9,591
Unfunded status	$	—		$	(1,863	)

Balance sheet classification:
Other long-term liabilities	$	—		$	1,863

Total Plan Expense, Other Amounts, and Other Changes Recognized in Accumulated Other Comprehensive Loss

Total plan expense and other amounts recognized in accumulated other comprehensive loss for the years ended February 3, 2024, January 28, 2023 and January 29, 2022 include the following components:


	February 3, 2024			January 28, 2023			January 29, 2022
Net pension cost:	(in thousands)
Interest cost on projected benefit obligation	$	294		$	414		$	373
Expected return on plan assets		(325	)		(723	)		(728	)
Amortization of unrecognized loss		133			270			314
Net pension cost	$	102		$	(39	)	$	(41	)

Other changes recognized in other comprehensive loss, before taxes:
Unrecognized losses at the beginning of the year	$	5,490		$	6,132		$	6,914
Net periodic pension cost		(102	)		39			41
Employer contribution		2,106			524			622
Recognition of the unrealized loss		(5,631	)		—			—
Change in plan assets and benefit obligations		(1,863	)		(1,205	)		(1,445	)
Unrecognized losses at the end of year	$	—		$	5,490		$	6,132

Supplemental Executive Retirement Plan

Defined Benefit Plan Disclosure [Line Items]

Pension and Retirement Plan's Funded Status

The following table sets forth the SERP’s funded status at February 3, 2024 and January 28, 2023:


	February 3, 2024			January 28, 2023

	in thousands
Change in benefit obligation:
Balance at beginning of period	$	427		$	514
Benefits and expenses paid		(27	)		(40	)
Settlements		(385	)		—
Interest costs		13			14
Actuarial (gain) loss		(28	)		(61	)
Balance at end of year	$	—		$	427

Change in fair value of plan assets:
Balance at beginning of period	$	—		$	—
Employer contributions		466			40
Settlements		(439	)		—
Benefits and expenses paid		(27	)		(40	)
Balance at end of period	$	—		$	—

Projected benefit obligation	$	—		$	427

Reconciliation of funded status:
Projected benefit obligation	$	—		$	427
Fair value of plan assets		—			—
Unfunded Status	$	—		$	(427	)

Balance sheet classification:
Other long-term liabilities	$	—		$	427

Total Plan Expense, Other Amounts, and Other Changes Recognized in Accumulated Other Comprehensive Loss

Other changes recognized in other comprehensive loss, before taxes (in thousands):


	February 3, 2024			January 28, 2023			January 29, 2022
	in thousands
Other changes recognized in other comprehensive loss, before taxes:
Unrecognized losses at the beginning of the year	$	31		$	95		$	120
Net periodic pension cost		(13	)		(17	)		(16	)
Recognized loss from settlement		(57	)		—			—
Employer contribution		466			40			40
Change in benefit obligations		(427	)		(87	)		(49	)
Unrecognized losses at the end of year	$	-		$	31		$	95

Stock Repurchase Program

12 Months Ended

Feb. 03, 2024

Stock Repurchase Program [Abstract]

Stock Repurchase Program

L. STOCK REPURCHASE PROGRAM

On March 14, 2023, the Company's Board of Directors (“Board”) approved a stock repurchase program, effective March 16, 2023. Under the program, the Company was initially authorized to repurchase up to $15.0 million of its common stock, including excise tax, through open market and privately negotiated transactions. The Company completed the initial authorization during the third quarter of fiscal 2023. On November 15, 2023, the Board approved an amendment to the stock repurchase program to increase the amount authorized under the program from $15.0 million to $25.0 million. Subsequent to the end of fiscal 2023, the stock repurchase program was completed.

During fiscal 2023, the Company repurchased 5.4 million shares at an aggregate cost, plus fees, of $24.5 million, excluding excise taxes. The Inflation Reduction Act of 2022 imposed a nondeductible 1% excise tax on the net value of certain share repurchases made after December 31, 2022. Beginning in fiscal year 2023, the applicable excise tax is being charged to additional paid-in capital in the Company's Consolidated Balance Sheet as part of the cost basis of the shares repurchased, with the corresponding liability for the excise tax payable recorded in accrued expenses and other current liabilities until paid. This liability is partially offset by a 1% credit permitted under the rules for the fair value of shares issued by the Company. At February 3, 2024, the Company has accrued $0.2 million for the payment of excise taxes.

Fair Value Measurement

12 Months Ended

Feb. 03, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurement

K. FAIR VALUE MEASUREMENT

At February 3, 2024 and January 28, 2023, the Company held U.S. treasury bills which were classified as held-to maturity and carried at amortized cost.


			Fair Value
(in thousands)	Carrying value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
At February 3, 2024:
Cash equivalents		6,047		6,052		—		—
Short-term investments		32,459		32,479		—		—

At January 28, 2023						—		—
Cash equivalents		29,077		29,071		—		—

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.

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Feb. 03, 2024	Mar. 15, 2024	Jul. 28, 2023
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Feb. 03, 2024
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Trading Symbol	DXLG
Entity Registrant Name	DESTINATION XL GROUP, INC.
Entity Central Index Key	0000813298
Current Fiscal Year End Date	--02-03
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		57,989,062
Entity Public Float			$ 268.3
Entity File Number	01-34219
Entity Tax Identification Number	04-2623104
Entity Address, Address Line One	555 Turnpike Street
Entity Address, City or Town	Canton
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02021
City Area Code	781
Local Phone Number	828-9300
Document Annual Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, par value $0.01 per share
Security Exchange Name	NASDAQ
Entity Incorporation, State or Country Code	DE
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Documents Incorporated by Reference	Portions of the Proxy Statement for the 2024 Annual Meeting of Stockholders are incorporated by reference into Part III.
Auditor Name	KPMG LLP
Auditor Location	Boston, MA
Auditor Firm ID	185

Revenue Recognition - Additional Information (Details1)	Feb. 03, 2024
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-02-04
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Cycle of earning and redeeming loyalty points period	1 year

Consolidated Balance Sheets (Parenthetical) - $ / shares	Feb. 03, 2024	Jan. 28, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	125,000,000	125,000,000
Common stock, shares issued	79,033,378	78,229,861
Treasury stock, shares	21,041,661	15,625,172

Leases - Additional Information (Details) $ in Millions	12 Months Ended
Leases - Additional Information (Details) $ in Millions	Feb. 03, 2024 USD ($) RenewalOption
Lessee Lease Description [Line Items]
Operating lease renewal option beginning year	2026
Leases, expected to commence period	2024
Store
Lessee Lease Description [Line Items]
Operating lease initial term	10 years
Operating lease option to extend	5 years
Operating lease team, not yet commenced	10 years
Aggregated estimated future lease payments \| $	$ 1.2
Store \| Minimum
Lessee Lease Description [Line Items]
Operating lease option to extend	5 years
Store \| Maximum
Lessee Lease Description [Line Items]
Operating lease initial term	10 years
Operating lease option to extend	5 years
Corporate Headquarter
Lessee Lease Description [Line Items]
Operating lease initial term	20 years
Operating lease option to extend	5 years
Number of renewal options \| RenewalOption	6
Equipment and Other Assets \| Minimum
Lessee Lease Description [Line Items]
Operating lease initial term	3 years
Equipment and Other Assets \| Maximum
Lessee Lease Description [Line Items]
Operating lease initial term	5 years

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Income Statement [Abstract]
Sales	$ 521,815	$ 545,838	$ 505,021
Cost of goods sold including occupancy costs	269,393	273,240	255,197
Gross profit	252,422	272,598	249,824
Expenses:
Selling, general and administrative	196,529	198,790	172,962
Impairment (gain) of assets	116	(159)	(2,344)
Depreciation and amortization	13,833	15,381	17,226
Total expenses	210,478	214,012	187,844
Operating income	41,944	58,586	61,980
Loss from termination of retirement plans	(5,690)
Interest income (expense), net	2,137	(251)	(4,350)
Income before provision (benefit) for income taxes	38,391	58,335	57,630
Provision (benefit) for income taxes	10,537	(30,788)	917
Net income	$ 27,854	$ 89,123	$ 56,713
Net income per share - basic	$ 0.46	$ 1.42	$ 0.89
Net income per share - diluted	$ 0.43	$ 1.33	$ 0.83
Weighted-average number of common shares outstanding:
Basic	61,018	62,825	63,401
Diluted	64,305	66,890	68,031

Income Taxes - Provision (benefit) for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Current:
State	$ 1,200	$ 830	$ 912
Foreign	8	6	5
Current Income Tax Expense (Benefit), Total	1,208	836	917
Deferred:
Federal	7,911	(24,794)
State	1,418	(6,830)
Deferred income tax provision (benefit), total	9,329	(31,624)
Total provision (benefit)	$ 10,537	$ (30,788)	$ 917

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

Property, Plant and Equipment [Abstract]

Property and Equipment

12 Months Ended

Feb. 03, 2024

Property and Equipment

C. PROPERTY AND EQUIPMENT

Property and equipment consisted of the following at the dates indicated:


(in thousands)	February 3, 2024		January 28, 2023
Furniture and fixtures	$	75,987	$	74,784
Equipment		25,184		24,035
Leasehold improvements		122,555		115,258
Hardware and software		111,884		106,643
Construction in progress		7,560		5,659
		343,170		326,379
Less: accumulated depreciation		299,932		287,317
Total property and equipment, net	$	43,238	$	39,062

Depreciation expense was $13.8 million, $15.4 million and $17.2 million for fiscal 2023, fiscal 2022, and fiscal 2021, respectively.

Additions to property and equipment that were included in accounts payable and accrued expenses at February 3, 2024, January 28, 2023 and January 29, 2022 were $2.3 million, $1.7 million, and $1.1 million, respectively.

Income Taxes - Reconciliation between Statutory and Effective Income Tax Rates (Parenthetical) (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023
Income Taxes [Line Items]
Deferred taxes, net of valuation allowance	$ 9,329	$ (31,624)

Stock Repurchase Program - Additional Information (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Feb. 03, 2024	Nov. 15, 2023	Mar. 16, 2023
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased	5.4
Aggregate cost of repurchased shares	$ 24.5
Percent of excise tax on repurchase of shares	1.00%
Percentage of credit permitted to offset liability	1.00%
Accrued payment of excise taxes	$ 0.2
Common Stock \| Minimum
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, repurchase amount		$ 15.0
Common Stock \| Maximum
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, repurchase amount		$ 25.0	$ 15.0

Commitments and Contingencies

12 Months Ended

Feb. 03, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

G. COMMITMENTS AND CONTINGENCIES

At February 3, 2024 the Company was obligated under operating leases covering store and office space, and certain equipment for future minimum rentals. See Note E, “Leases” for the schedule of future remaining lease obligations. In addition to its lease obligations, the Company is also contractually committed pursuant to a merchandise purchase obligation to meet minimum purchases of $10.0 million annually through fiscal 2028.

The Company is subject to various legal proceedings and claims that arise in the ordinary course of business. When a loss is considered probable, the Company records an accrual based on the reasonably estimable loss or range of loss. Costs related to such legal proceedings are expensed and reported in selling, general and administrative expenses in the Consolidated Statements of Operations. The Company believes its accruals at February 3, 2024 are adequate in light of the probable and estimable liabilities. The Company does not believe that any identified claims or litigation will be material to its results of operations, cash flows, or financial condition.

Stock Compensation Plans - Stock Option Activity under Two Thousand Six And Two Thousand Sixteen Plan (Details) (Details) - Employee Stock Plan, 2006 Plan and 2016 Plan $ / shares in Units, $ in Thousands	12 Months Ended
	Feb. 03, 2024 USD ($) $ / shares shares
Number of Shares
Outstanding options at beginning of year \| shares	3,556,434
Options granted \| shares	1,317
Options canceled or expired \| shares	(47,749)
Options exercised \| shares	(329,263)
Outstanding options at end of year \| shares	3,180,739
Options exercisable at end of year \| shares	1,941,707
Vested and expected to vest at end of year \| shares	3,180,739
Weighted-average exercise price per option
Outstanding options at beginning of year \| $ / shares	$ 0.83
Options granted \| $ / shares	5.91
Options canceled or expired \| $ / shares	4.32
Options exercised \| $ / shares	1.12
Outstanding options at end of year \| $ / shares	0.75
Options exercisable at end of year \| $ / shares	0.80
Vested and expected to vest at end of year \| $ / shares	$ 0.75
Weighted-average remaining contractual term
Outstanding options at end of year	6 years 4 months 24 days
Options exercisable at end of year	6 years 2 months 12 days
Vested and expected to vest at end of year	6 years 4 months 24 days
Aggregate Intrinsic Value
Outstanding options at beginning of year \| $	$ 23,239
Options canceled or expired \| $	55
Options exercised \| $	1,147
Outstanding options at end of year \| $	10,962
Options exercisable at end of year \| $	6,609
Vested and expected to vest at end of year \| $	$ 10,962

Employee Benefit Plans - Pension and Retirement Plan's Funded Status (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Noncontributory Pension Plan
Change in benefit obligation:
Balance at beginning of period	$ 11,454	$ 14,361
Benefits and expenses paid	(347)	(818)
Interest costs	$ 294	$ 414	$ 373
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Income (Expense), Net	Interest Income (Expense), Net	Interest Income (Expense), Net
Settlements	$ (10,877)	$ (358)
Actuarial (gain) loss	(524)	(2,145)
Balance at end of year		11,454	$ 14,361
Change in fair value of plan assets:
Balance at beginning of period	9,591	11,293
Actual return on plan assets	(34)	(1,050)
Employer contribution	2,106	524	622
Settlements	(11,316)	(358)
Benefits and expenses paid	(347)	(818)
Balance at end of period		9,591	11,293
Projected benefit obligation		11,454	14,361
Reconciliation of funded status:
Projected benefit obligation		11,454	14,361
Fair value of plan assets		9,591	11,293
Unfunded status		(1,863)
Balance sheet classification:
Other long-term liabilities		1,863
Supplemental Executive Retirement Plan
Change in benefit obligation:
Balance at beginning of period	427	514
Benefits and expenses paid	(27)	(40)
Interest costs	$ 13	$ 14
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Income (Expense), Net	Interest Income (Expense), Net
Settlements	$ (385)
Actuarial (gain) loss	(28)	$ (61)
Balance at end of year		427	514
Change in fair value of plan assets:
Employer contribution	466	40	40
Settlements	(439)
Benefits and expenses paid	$ (27)	(40)
Projected benefit obligation		427	514
Reconciliation of funded status:
Projected benefit obligation		427	$ 514
Unfunded status		(427)
Balance sheet classification:
Other long-term liabilities		$ 427

Leases (Tables)

12 Months Ended

Feb. 03, 2024

Leases [Abstract]

Summary of Components of Lease Costs

The following table is a summary of the Company’s components of lease costs for fiscal 2023, fiscal 2022 and fiscal 2021:


	Fiscal 2023		Fiscal 2022		Fiscal 2021
(in thousands)
Operating lease cost	$	45,018	$	44,297	$	43,921
Variable lease costs(1)		12,849		12,885		13,290
Total lease costs	$	57,867	$	57,182	$	57,211

(1)

Variable lease costs include the cost of property taxes, insurance and common area maintenance fees related to its leases.

Supplemental Cash Flow Information Related to Leases

Supplemental cash flow and balance sheet information related to leases for fiscal 2023, fiscal 2022 and fiscal 2021 is as follows:


(in thousands)	Fiscal 2023			Fiscal 2022			Fiscal 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	51,411		$	55,068		$	57,816
Non-cash operating activities:
Right-of-use assets obtained in exchange for operating lease liabilities	$	46,960		$	26,239		$	30,777

Weighted average remaining lease term	4.9 yrs.			4.3 yrs.			4.3 yrs.
Weighted average discount rate		6.52	%		6.39	%		6.91	%

Schedule of Reconciliation of Undiscounted Cash Flows Related to Operating Lease Liabilities

The table below reconciles the undiscounted cash flows for each of the next five years and thereafter to the operating lease liabilities recorded on the Consolidated Balance Sheet as of February 3, 2024:


(in thousands)
2024	$	45,945
2025		42,651
2026		30,181
2027		22,765
2028		14,696
Thereafter		25,049
Total minimum lease payments	$	181,287
Less: amount of lease payments representing interest		26,750
Present value of future minimum lease payments	$	154,537
Less: current obligations under leases		37,221
Noncurrent lease obligations	$	117,316

Summary of Significant Accounting Policies - Valuation Assumptions for Stock Options (Details) - $ / shares	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility, minimum	86.30%	87.90%	97.40%
Expected volatility, maximum	92.10%	123.70%	104.90%
Risk-free interest rate, minimum	3.71%	2.52%	0.31%
Risk-free interest rate, maximum	4.42%	4.41%	0.60%
Expected life	2 years 6 months
Weighted average fair value of options granted	$ 3.24	$ 3.58	$ 0.47
Weighted average fair value of non-vested shares granted	$ 4.47	$ 5.28	$ 0.66
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected life		2 years	3 years
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected life		3 years 6 months	4 years

Debt Obligations

12 Months Ended

Feb. 03, 2024

Debt Disclosure [Abstract]

Debt Obligations

D. DEBT OBLIGATIONS

Credit Agreement with Citizens Bank, N.A.

On October 28, 2021, the Company entered into a credit facility with Citizens Bank, N.A. On April 20, 2023, the Company entered into the First Amendment to Credit Agreement which provided for the replacement of the London Interbank Offering Rate (“LIBOR”) interest rate options with the secured overnight financing rate ("SOFR") based options (as amended, the "Credit Facility").

The Credit Facility provides for a $125.0 million secured, asset-based credit facility with a maturity date of October 28, 2026. The maximum committed borrowing of $125.0 million includes a sublimit of $20.0 million for commercial and standby letters of credit and a sublimit of up to $15.0 million for swing line loans. The Company’s ability to borrow under the Credit Facility is determined using an availability formula based on eligible assets.

Effective April 20, 2023, borrowings under the Credit Facility bear interest at either a Base Rate or Daily Simple SOFR rate, at the Company's option. Base Rate loans will bear interest at a rate equal to (i) the greater of: (a) the Prime Rate, (b) the Federal Funds effective rate plus 0.50% per annum and (c) the Daily Simple SOFR rate plus 1.00% per annum (provided the Base Rate shall never be less than the Floor (as defined in the Credit Facility)), plus (ii) a varying percentage, based on the Company’s average excess availability, of either 0.25% or 0.50% (the “Applicable Margin”). Daily Simple SOFR loans will bear interest at a rate equal to (i) the Daily Simple SOFR rate plus an adjustment of 0.10% (provided the Daily Simple SOFR rate shall never be less than the Floor), plus (ii) the Applicable Margin. Any swingline loan will continue to bear interest at a rate equal to the Base Rate plus the Applicable Margin. The Company is subject to an unused line fee of 0.25%.

The Company’s obligations under the Credit Facility are secured by a lien on substantially all of its assets. If the Company’s availability under the Credit Facility at any time is less than the greater of (i) 10% of the Revolving Loan Cap (the lesser of the aggregate revolving commitments or the borrowing base) and (ii) $7.5 million, then the Company is required to maintain a minimum consolidated fixed charge coverage ratio of 1.0:1.0 until such time as availability has exceeded the greater of (1) 10% of the Revolving Loan Cap and (2) $7.5 million for 30 consecutive days.

At February 3, 2024, the Company had no borrowings outstanding and availability of $69.8 million under the Credit Facility. There were no borrowings under the Credit Facility during fiscal 2023, resulting in an average unused excess availability of approximately $84.5 million. Outstanding standby letters of credit were $4.3 million and outstanding documentary letters were $1.0 million at February 3, 2024. At February 3, 2024, the Company's prime interest rate was 8.75%.

Interest and Fees

The Company paid interest and fees totaling $0.3 million, $0.4 million and $3.2 million for fiscal 2023, fiscal 2022 and fiscal 2021, respectively. Included in the $3.2 million for fiscal 2021 was a prepayment penalty of $1.1 million associated with the prepayment of its long-term FILO loan.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Paragraph 1I
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Cash and Cash Equivalents

Leases

12 Months Ended

Feb. 03, 2024

Leases [Abstract]

Leases

E. LEASES

The Company leases all of its store locations and its corporate headquarters, which also includes its distribution center, under operating leases. The store leases typically have initial terms of 10 years, with options that usually permit renewal for additional five-year periods. The initial term of the lease for the corporate headquarters is for 20 years, with the opportunity to extend for six additional consecutive periods of five years, beginning in fiscal 2026. The Company also leases certain equipment and other assets under operating leases, typically with initial terms of 3 to 5 years. The Company is generally obligated for the cost of property taxes, insurance and common area maintenance fees relating to its leases, which are considered variable lease costs and are expensed as incurred.

ASC 842 requires the assessment of any lease modification to determine if the modification should be treated as a separate lease and if not, modification accounting would be applied. Lease modification accounting requires the recalculation of the ROU asset, lease liability and lease expense over the respective lease term. As of February 3, 2024, the Company’s operating leases liabilities represent the present value of the remaining future minimum lease payments updated based on concessions and lease modifications, as applicable.

Lease costs related to store locations are included in cost of goods sold including occupancy costs on the Consolidated Statements of Operations, and expenses and lease costs related to the corporate headquarters and equipment leases are included in selling, general and administrative expenses on the Consolidated Statements of Operations.

The following table is a summary of the Company’s components of lease costs for fiscal 2023, fiscal 2022 and fiscal 2021:


	Fiscal 2023		Fiscal 2022		Fiscal 2021
(in thousands)
Operating lease cost	$	45,018	$	44,297	$	43,921
Variable lease costs(1)		12,849		12,885		13,290
Total lease costs	$	57,867	$	57,182	$	57,211

(1)

Variable lease costs include the cost of property taxes, insurance and common area maintenance fees related to its leases.

Supplemental cash flow and balance sheet information related to leases for fiscal 2023, fiscal 2022 and fiscal 2021 is as follows:


(in thousands)	Fiscal 2023			Fiscal 2022			Fiscal 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	51,411		$	55,068		$	57,816
Non-cash operating activities:
Right-of-use assets obtained in exchange for operating lease liabilities	$	46,960		$	26,239		$	30,777

Weighted average remaining lease term	4.9 yrs.			4.3 yrs.			4.3 yrs.
Weighted average discount rate		6.52	%		6.39	%		6.91	%


(in thousands)
2024	$	45,945
2025		42,651
2026		30,181
2027		22,765
2028		14,696
Thereafter		25,049
Total minimum lease payments	$	181,287
Less: amount of lease payments representing interest		26,750
Present value of future minimum lease payments	$	154,537
Less: current obligations under leases		37,221
Noncurrent lease obligations	$	117,316

As of February 3, 2024, the Company had entered into a ten-year store lease that has not yet commenced with aggregated estimated future lease payments of approximately $1.2 million, which are not included in the above table. The lease is expected to commence in the first quarter of fiscal 2024.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Feb. 03, 2024

Accounting Policies [Abstract]

Nature of Business

Basis of Presentation

The consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany accounts, transactions and profits are eliminated.

Segment Reporting

Fiscal Year

Short-Term Investments

Concentration of Credit Risk

Accounts Receivable

Accounts receivable primarily include amounts due for rebates from certain vendors. For fiscal 2023, fiscal 2022 and fiscal 2021, the Company did not incur any losses on its accounts receivable.

Fair Value of Financial Instruments

ASC Topic 820, Fair Value Measurements and Disclosures, defines fair value, establishes a framework for measuring fair value and enhances disclosures about fair value measurements.

Level 1 – Quoted prices in active markets for identical assets or liabilities.

Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of assets or liabilities.

The Company utilizes observable market inputs (quoted market prices) when measuring fair value whenever possible.

Inventories

All inventories are valued at the lower of cost or market, using a weighted-average cost method.

Property and Equipment


Furniture and fixtures		Five to ten years
Equipment		Five to ten years
Leasehold improvements		Lesser of useful lives or related lease term
Hardware and software		Three to seven years

Intangibles

Domain Name

Advertising Costs

Revenue Recognition

The Company’s accounting policies with respect to revenue recognition are discussed in Note B, “Revenue Recognition.”

Foreign Currency Translation

Accumulated Other Comprehensive Income (Loss) - ("AOCI")

Accumulated Other Comprehensive Income (Loss) – (“AOCI”)


	Fiscal 2023			Fiscal 2022									Fiscal 2021
(in thousands)
	Retirement Plans			Retirement Plans			Foreign Currency			Total			Retirement Plans			Foreign Currency			Total
Balance at beginning of fiscal year	$	(4,928	)	$	(5,466	)	$	(59	)	$	(5,525	)	$	(6,224	)	$	3		$	(6,221	)

Other comprehensive income (loss) before reclassifications, net of taxes		(199	)		568			(7	)		561			799			(62	)		737

Recognition of loss on retirement plan terminations, net of taxes (1)		5,052			—			—			—			—			—			—

Recognition of accumulated foreign currency translation adjustment (2)		—			—			66			66			—			—			—

Amounts reclassified from accumulated other comprehensive income (loss), net of taxes (3)		75			(30	)		—			(30	)		(41	)		—			(41	)

Other comprehensive income (loss) for the period		4,928			538			59			597			758			(62	)		696

Balance at end of fiscal year	$	—		$	(4,928	)	$	—		$	(4,928	)	$	(5,466	)	$	(59	)	$	(5,525	)

(1)

(2)

In connection with the Company’s closing of its remaining store in Toronto, Canada, in fiscal 2022, the Company recognized the accumulated foreign currency translation adjustment as an expense.

(3)

Income Taxes

Net Loss Per Share

Net Income Per Share


	FISCAL YEARS ENDED
	February 3, 2024		January 28, 2023		January 29, 2022
(in thousands)
Common stock outstanding:
Basic weighted average common shares outstanding		61,018		62,825		63,401
Common stock equivalents – stock options, deferred stock and RSUs		3,287		4,065		4,630
Diluted weighted average common shares outstanding		64,305		66,890		68,031


	FISCAL YEARS ENDED
	February 3, 2024		January 28, 2023		January 29, 2022
(in thousands, except exercise prices)
Stock options (time-vested)		85		102		302
RSUs (time-vested)		39		104		—
Range of exercise prices of such options	$4.48 - $6.59		$4.48 - $7.43		$4.19 -$5.50

issued and outstanding until the vesting date of the deferral period and are excluded from basic earnings per share until such shares are issued.

Stock-based Compensation

The total grant-date fair value of awards vested was $1.2 million, $2.5 million and $1.7 million for fiscal 2023, fiscal 2022 and fiscal 2021, respectively.

Any excess tax benefits resulting from the exercise of stock options or the release of restricted shares were recognized as a component of income tax expense in the period in which they occurred.

Valuation Assumptions - Stock Compensation


Fiscal years ended:	February 3, 2024	January 28, 2023	January 29, 2022
Expected volatility	86.3% - 92.1%	87.9% - 123.7%	97.4% - 104.9%
Risk-free interest rate	3.71%-4.42%	2.52% - 4.41%	0.31% - 0.60%
Expected life (in years)	2.5	2.0 - 3.5	3.0 - 4.0
Dividend rate	-	-	-
Weighted average fair value of options granted	$3.24	$3.58	$0.47
Weighted average fair value of non-vested shares granted	$4.47	$5.28	$0.66

Impairment of Long-Lived Assets

The Company recorded an impairment charge of $0.1 million in fiscal 2023 and recorded a net gain of $0.2 million and $2.3 million in fiscal 2022 and fiscal 2021, respectively.

Leases

See Note E "Leases" for additional information.

Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements - Adopted

Recently Issued Accounting Pronouncements - Not Yet Adopted

No other new accounting pronouncements, issued or effective during fiscal 2023, have had or are expected to have a significant impact on the Company’s Consolidated Financial Statements.

Income Taxes - Components of Net Deferred Tax Assets (Details) - USD ($) $ in Thousands	Feb. 03, 2024	Jan. 28, 2023
Deferred tax assets, net:
Net operating loss carryforward	$ 13,522	$ 21,736
Accrued expenses and other	4,776	5,597
Operating lease liabilities	40,182	37,793
Goodwill and intangibles	(103)	(62)
Unrecognized loss on pension and pension expense	0	1,714
Inventory reserves	866	900
Foreign tax credit carryforward	486	486
Federal wage tax credit carryforward	824	824
State tax credits	147	147
Operating lease right-of-use assets	(35,937)	(32,583)
Property and equipment	(985)	(2,672)
Subtotal	23,778	33,880
Valuation allowance	(2,245)	(2,425)
Net deferred tax assets	$ 21,533	$ 31,455

Fair Value Measurement - Fair Value Measured at Recurring Basis (Details) - USD ($) $ in Thousands	Feb. 03, 2024	Jan. 28, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments, fair value	$ 32,459
Recurring \| Carrying Value \| U.S. Treasury Bills
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents, fair value	6,047	$ 29,077
Short-term investments, fair value	32,459
Recurring \| Fair Value \| U.S. Treasury Bills \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents, fair value	6,052	$ 29,071
Short-term investments, fair value	$ 32,479

Property and Equipment (Tables)

12 Months Ended

Feb. 03, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment consisted of the following at the dates indicated:


(in thousands)	February 3, 2024		January 28, 2023
Furniture and fixtures	$	75,987	$	74,784
Equipment		25,184		24,035
Leasehold improvements		122,555		115,258
Hardware and software		111,884		106,643
Construction in progress		7,560		5,659
		343,170		326,379
Less: accumulated depreciation		299,932		287,317
Total property and equipment, net	$	43,238	$	39,062

Property and Equipment - Property and Equipment (Details) - USD ($) $ in Thousands	Feb. 03, 2024	Jan. 28, 2023
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 343,170	$ 326,379
Less: accumulated depreciation	299,932	287,317
Total property and equipment,net	43,238	39,062
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	75,987	74,784
Equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	25,184	24,035
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	122,555	115,258
Hardware And Software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	111,884	106,643
Construction in Progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 7,560	$ 5,659

Summary of Significant Accounting Policies - Reconciliation of Number of Shares Outstanding for Basic and Diluted Earning Per Share (Details) - shares shares in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Common stock outstanding:
Basic weighted average common shares outstanding	61,018	62,825	63,401
Common stock equivalents - stock options, restricted stock and restricted stock units (RSUs)	3,287	4,065	4,630
Diluted weighted average common shares outstanding	64,305	66,890	68,031

Revenue Recognition - Additional Information (Details) $ in Millions	12 Months Ended
	Feb. 03, 2024 USD ($) Segment	Jan. 28, 2023 USD ($)
Revenue from Contract with Customer [Abstract]
Loyalty accrual, net of breakage	$ 1.7	$ 1.6
Gift card liability, net of breakage	$ 3.2	$ 3.4
Number of reportable segments \| Segment	1

Income Taxes

12 Months Ended

Feb. 03, 2024

Income Tax Disclosure [Abstract]

Income Taxes

F. INCOME TAXES

The Company accounts for income taxes in accordance with ASC Topic 740, Income Taxes. Under ASC Topic 740, deferred tax assets and liabilities are recognized based on temporary differences between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. The accounting standards require current recognition of net deferred tax assets to the extent it is more likely than not such net assets will be realized. To the extent that the Company believes its net deferred tax assets will not be realized, a valuation allowance must be recorded against those assets.

Until the second quarter of fiscal 2022, the Company had maintained a full valuation allowance against its deferred tax assets since fiscal 2013. During the second quarter of fiscal 2022, the Company determined that it was more likely than not that it would be able to realize the benefit of substantially all of its deferred tax assets in the United States. In reaching this determination, the Company considered the cumulative three years of profitability, its six consecutive quarters of sales growth and profitability at the time of the assessment, its expectations regarding the generation of future taxable income and the ability to utilize the Company’s net operating loss (“NOLs”) carryforwards as well as the overall improvement in the Company's business, brand repositioning and current market position. As a result, for fiscal 2022, the valuation allowance against the Company's deferred tax assets decreased by $47.6 million, of which $31.6 million was recorded as a non-recurring tax benefit in fiscal 2022 related to the release of the valuation allowance on deferred tax assets expected to be realized in future periods. As a result of releasing substantially all of the valuation allowance against its deferred tax assets during fiscal 2022, the Company returned to a normal tax provision for fiscal 2023. At February 3, 2024 and January 28, 2023, the Company continued to provide a valuation allowance of $2.2 million and $2.4 million, respectively, primarily against certain state and foreign NOLs.

As of February 3, 2024, for federal income tax purposes, the Company had net operating loss carryforwards of $3.6 million, which will expire in fiscal 2037 and net operating loss carryforwards of $39.9 million that are not subject to expiration. For state income tax purposes, the Company had $51.8 million of net operating losses that are available to offset future taxable income, the majority of which will expire from fiscal 2024 through fiscal 2045. Additionally, the Company has $5.3 million of net operating loss carryforwards related to the Company’s operations in Canada, which will expire from fiscal 2025 through fiscal 2041.

The utilization of net operating loss carryforwards and the realization of tax benefits in future years depends predominantly upon having taxable income. Under the provisions of the Internal Revenue Code, certain substantial changes in the Company’s ownership may result in a limitation on the amount of net operating loss carryforwards and tax credit carryforwards, which may be used in future years. As of February 3, 2024, there has been no such ownership change.

The components of the net deferred tax assets as of February 3, 2024 and January 28, 2023 were as follows (in thousands):


	February 3, 2024			January 28, 2023
Deferred tax assets, net:
Net operating loss carryforward	$	13,522		$	21,736
Accrued expenses and other		4,776			5,597
Operating lease liabilities		40,182			37,793
Goodwill and intangibles		(103	)		(62	)
Unrecognized loss on pension and pension expense		—			1,714
Inventory reserves		866			900
Foreign tax credit carryforward		486			486
Federal wage tax credit carryforward		824			824
State tax credits		147			147
Operating lease right-of-use assets		(35,937	)		(32,583	)
Property and equipment		(985	)		(2,672	)
Subtotal	$	23,778		$	33,880
Valuation allowance		(2,245	)		(2,425	)
Net deferred tax assets	$	21,533		$	31,455

For fiscal 2023, the Company had total deferred tax assets of $60.8 million, total deferred tax liabilities of $37.0 million and a valuation allowance of $2.2 million.

The provision (benefit) for income taxes consisted of the following:


	FISCAL YEARS ENDED
	February 3, 2024		January 28, 2023			January 29, 2022
(in thousands)
Current:
Federal	$	—	$	—		$	—
State		1,200		830			912
Foreign		8		6			5
		1,208		836			917
Deferred:
Federal		7,911		(24,794	)		—
State		1,418		(6,830	)		—
Foreign		—		—			—
		9,329		(31,624	)		—
Total provision (benefit)	$	10,537	$	(30,788	)	$	917

The following is a reconciliation between the statutory and effective income tax rates in dollars for the provision (benefit) for income tax:


	FISCAL YEARS ENDED
	February 3, 2024			January 28, 2023			January 29, 2022

(in thousands)
Federal income tax at the statutory rate	$	8,086		$	12,250		$	12,102
State taxes, net of federal tax benefit		1,000			656			721
State deferred taxes, net of federal benefit		1,418			1,558			—
Section 162(m) limitation		746			1,451			1,375
Permanent items		(199	)		(1,002	)		(893	)
Taxes stranded in OCI released with termination of retirement plans		890			—			—
Change in valuation allowance (1)		(179	)		(47,594	)		(12,421	)
Adjustment to §382 NOLs		(1,159	)		1,159			—
Other, net		(66	)		734			33
Total provision (benefit)	$	10,537		$	(30,788	)	$	917

(1)

As discussed in Note A, the Company’s financial statements reflect the expected future tax consequences of uncertain tax positions that the Company has taken or expects to take on a tax return, based solely on the technical merits of the tax position.


	FISCAL YEARS ENDED
	February 3, 2024			January 28, 2023		January 29, 2022
(in thousands)
Balance at the beginning of the fiscal year	$	2,000		$	2,000	$	2,000
Changes due to tax positions from current year		—			—		—
Changes due to tax positions from prior years		(2,000	)		—		—
Changes due to lapsing of statute of limitations		—			—		—
Balance at the end of the fiscal year	$	—		$	2,000	$	2,000

The Company made tax payments of $1.6 million, $0.5 million, and $0.6 million for fiscal 2023, fiscal 2022, and fiscal 2021, respectively.

The Inflation Reduction Act of 2022, which was signed into law in 2022, contains a provision that includes a 1% excise tax on certain stock buybacks after December 31, 2022. At February 3, 2024, the Company has accrued $0.2 million for excise taxes payable.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2