Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Feb. 03, 2018	Mar. 16, 2018	Jul. 29, 2017
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Feb. 03, 2018
Document Fiscal Year Focus	2017
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 Common Stock, Shares Outstanding		48,759,404
Entity Public Float			$ 67.5

Consolidated Balance Sheets - USD ($) $ in Thousands	Feb. 03, 2018	Jan. 28, 2017
Current assets:
Cash and cash equivalents	$ 5,362	$ 5,572
Accounts receivable	3,046	7,114
Inventories	103,332	117,446
Prepaid expenses and other current assets	9,927	8,817
Total current assets	121,667	138,949
Property and equipment, net of accumulated depreciation and amortization	111,032	124,347
Other assets:
Intangible assets	1,821	2,228
Other assets	5,885	3,804
Total assets	240,405	269,328
Current liabilities:
Current portion of long-term debt	1,392	6,941
Current portion of deferred gain on sale-leaseback	1,465	1,465
Accounts payable	33,987	31,258
Accrued expenses and other current liabilities	25,585	31,938
Borrowings under credit facility	47,385	44,097
Total current liabilities	109,814	115,699
Long-term liabilities:
Long-term debt, net of current portion	10,669	12,061
Deferred rent and lease incentives	35,718	35,421
Deferred gain on sale-leaseback, net of current portion	10,258	11,723
Deferred tax liability		222
Other long-term liabilities	3,960	5,682
Total long-term liabilities	60,605	65,109
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.01 par value, 1,000,000 shares authorized, none issued
Common stock, $0.01 par value, 100,000,000 shares authorized, 61,485,882 and 61,637,164 shares issued at February 3, 2018 and January 28, 2017, respectively	615	616
Additional paid-in capital	307,557	304,466
Treasury stock at cost, 12,755,873 and 10,877,439 shares at February 3, 2018 and January 28, 2017, respectively	(92,658)	(87,977)
Accumulated deficit	(139,285)	(122,567)
Accumulated other comprehensive loss	(6,243)	(6,018)
Total stockholders' equity	69,986	88,520
Total liabilities and stockholders' equity	$ 240,405	$ 269,328

Consolidated Balance Sheets (Parenthetical) - $ / shares	Feb. 03, 2018	Jan. 28, 2017
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	100,000,000	100,000,000
Common stock, shares issued	61,485,882	61,637,164
Treasury stock, shares	12,755,873	10,877,439

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Income Statement [Abstract]
Sales	$ 467,976	$ 450,283	$ 442,221
Cost of goods sold including occupancy costs	257,619	245,402	238,382
Gross profit	210,357	204,881	203,839
Expenses:
Selling, general and administrative	193,230	173,283	180,570
Impairment of assets	4,095	376
Depreciation and amortization	31,073	30,245	28,359
Total expenses	228,398	203,904	208,929
Operating income (loss)	(18,041)	977	(5,090)
Interest expense, net	(3,357)	(3,067)	(3,058)
Loss before provision (benefit) for income taxes	(21,398)	(2,090)	(8,148)
Provision (benefit) for income taxes	(2,572)	166	260
Net loss	$ (18,826)	$ (2,256)	$ (8,408)
Net loss per share - basic and diluted	$ (0.39)	$ (0.05)	$ (0.17)
Weighted-average number of common shares outstanding:
Basic	48,888	49,544	49,089
Diluted	48,888	49,544	49,089

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (18,826)	$ (2,256)	$ (8,408)
Other comprehensive income (loss) before taxes:
Foreign currency translation	393	(242)	(96)
Pension plan	1,490	876	1,682
Other comprehensive income (loss) before taxes	1,883	634	1,586
Other comprehensive income (loss), net of tax	1,883	634	1,586
Comprehensive loss	$ (16,943)	$ (1,622)	$ (6,822)

Consolidated Statements of Changes in Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Beginning Balance at Jan. 31, 2015	$ 92,390	$ 616	$ 299,892	$ (87,977)	$ (111,903)	$ (8,238)
Beginning Balance (in shares) at Jan. 31, 2015		61,561		(10,877)
Stock compensation expense	2,195		2,195
Exercises under option program	101		101
Exercises under option program (in shares)		22
Cancellations of restricted stock, net of issuances (in shares)		25
Board of Directors compensation	540	$ 1	539
Board of Directors compensation (in shares)		84
Accumulated other comprehensive income (loss):
Unrecognized gain associated with Pension Plan	1,682					1,682
Foreign currency	(96)					(96)
Net loss	(8,408)				(8,408)
Ending Balance at Jan. 30, 2016	88,404	$ 617	302,727	$ (87,977)	(120,311)	(6,652)
Ending Balance (in shares) at Jan. 30, 2016		61,692		(10,877)
Stock compensation expense	1,256		1,256
Cancellations of restricted stock, net of issuances		$ (1)	1
Cancellations of restricted stock, net of issuances (in shares)		(123)
Board of Directors compensation	482		482
Board of Directors compensation (in shares)		68
Accumulated other comprehensive income (loss):
Unrecognized gain associated with Pension Plan	876					876
Foreign currency	(242)					(242)
Net loss	(2,256)				(2,256)
Ending Balance at Jan. 28, 2017	88,520	$ 616	304,466	$ (87,977)	(122,567)	(6,018)
Ending Balance (in shares) at Jan. 28, 2017		61,637		(10,877)
Stock compensation expense	1,636		1,636
Restricted Stock issued, reclass from liability to equity	920	$ 4	916
Restricted Stock issued, reclass from liability to equity (in shares)		425
Cancellations of restricted stock, net of issuances		$ (7)	7
Cancellations of restricted stock, net of issuances (in shares)		(755)
Board of Directors compensation	534	$ 2	532
Board of Directors compensation (in shares)		179
Repurchase of common stock	(4,681)			$ (4,681)
Repurchase of common stock (in shares)				(1,878)
Accumulated other comprehensive income (loss):
Unrecognized gain associated with Pension Plan	1,490					1,490
Foreign currency	393					393
Adjustment to reclassify intraperiod tax allocation to accumulated deficit (Note D)					2,108	(2,108)
Net loss	(18,826)				(18,826)
Ending Balance at Feb. 03, 2018	$ 69,986	$ 615	$ 307,557	$ (92,658)	$ (139,285)	$ (6,243)
Ending Balance (in shares) at Feb. 03, 2018		61,486		(12,755)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Cash flows from operating activities:
Net loss	$ (18,826)	$ (2,256)	$ (8,408)
Adjustments to reconcile net loss to net cash provided by operating activities:
Amortization of deferred gain on sale-leaseback	(1,465)	(1,466)	(1,465)
Amortization of deferred debt issuance costs	270	276	279
Impairment of assets	4,095	376
Depreciation and amortization	31,073	30,245	28,359
Deferred taxes, net of valuation allowance	(2,363)	26	105
Stock compensation expense	1,636	1,256	2,195
Issuance of common stock to Board of Directors	534	482	540
Changes in operating assets and liabilities:
Accounts receivable	4,068	(2,393)	(1,102)
Inventories	14,114	7,568	(9,794)
Prepaid expenses and other current assets	(1,110)	(563)	659
Other assets	60	(247)	350
Accounts payable	2,729	574	705
Deferred rent and lease incentives	297	4,487	2,084
Accrued expenses and other liabilities	(4,153)	(3,405)	3,883
Net cash provided by operating activities	30,959	34,960	18,390
Cash flows from investing activities:
Additions to property and equipment, net	(22,565)	(29,239)	(33,447)
Net cash used for investing activities	(22,565)	(29,239)	(33,447)
Cash flows from financing activities:
Net borrowings under credit facility	3,165	1,993	23,044
Principal payments on long-term debt	(7,088)	(7,312)	(7,489)
Costs associated with debt issuances			(15)
Repurchase of common stock	(4,681)
Proceeds from the exercise of stock options			101
Net cash provided by (used for) financing activities	(8,604)	(5,319)	15,641
Net increase (decrease) in cash and cash equivalents	(210)	402	584
Cash and cash equivalents:
Beginning of period	5,572	5,170	4,586
End of period	$ 5,362	$ 5,572	$ 5,170

Summary of Significant Accounting Policies

12 Months Ended

Feb. 03, 2018

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 apparel. The Company operates under the trade names of Destination XL^® (DXL^®), DXL Outlets^®, Casual Male XL^®, Casual Male XL Outlets, Rochester Clothing, ShoesXL^® and LivingXL^®. At February 3, 2018, the Company operated 212 DXL stores, 78 Casual Male XL, 33 Casual Male XL outlets, 14 DXL outlets and 5 Rochester Clothing stores located throughout the United States, including one store in London, England and two stores in Canada. The Company also operates an e-commerce site to support its brands and product extensions.

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.

Subsequent Events

All appropriate subsequent event disclosures, if any, have been made in these Notes to the Consolidated Financial Statements.

Prior Period Reclassifications

Certain prior period amounts have been reclassified to conform to the current period presentation. Impairment of assets, which was previously included in “Depreciation and Amortization” on the Consolidated Statement of Operations for fiscal 2016 has been reclassified to “Impairment of Assets” for comparability to fiscal 2017. There was no such impairment of assets in fiscal 2015.

Segment Reporting

The Company reports its operations as one reportable segment, Big & Tall Men’s Apparel, which consists of two principal operating segments: its retail business and its direct business. The Company considers its operating segments to be similar in terms of economic characteristics, production processes and operations, and have therefore aggregated them into a single reporting segment, consistent with its omni-channel business approach. The direct business operating segment includes the operating results and assets for LivingXL.

Fiscal Year

The Company’s fiscal year is a 52-week or 53-week period ending on the Saturday closest to January 31. Fiscal 2017 was a 53-week period which ended on February 3, 2018. Fiscal 2016 and 2015 were 52-week periods which ended on January 28, 2017 and January 30, 2016, 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.

Accounts Receivable

Accounts receivable primarily includes amounts due for tenant allowances and rebates from certain vendors. For fiscal 2017, fiscal 2016 and fiscal 2015, the Company has not incurred any losses on its accounts receivable.

Fair Value of Financial Instruments

ASC Topic 825, Financial Instruments, requires disclosure of the fair value of certain financial instruments. The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable, accrued expenses and short-term borrowings approximate fair value because of the short maturity of these 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.

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.

The fair value of long-term debt at February 3, 2018 approximates the carrying amount based upon terms available to the Company for borrowings with similar arrangements and remaining maturities. See Note C, “Debt Obligations”, for more discussion.

The fair value of indefinite-lived assets, which consists of the Company’s “Rochester” trademark, is measured on a non-recurring basis in connection with the Company’s annual impairment test. The fair value of the trademark is determined using the relief from royalty method based on unobservable inputs and are classified within Level 3 of the valuation hierarchy. See Intangibles below.

Retail 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 depreciation of the assets are removed from the accounts and the resulting gain or loss, if any, is reflected in income. 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

ASC Topic 805, “Business Combinations,” requires that all business combinations be accounted for under the purchase method. The statement further requires separate recognition of intangible assets that meet one of two criteria set forth in the statement. Under ASC Topic 350, “Intangibles Goodwill and Other,” goodwill and intangible assets with indefinite lives are tested at least annually for impairment. At each reporting period, management analyzes current events and circumstances to determine whether the indefinite life classification for its “Rochester” trademark continues to be valid. If circumstances warrant a change to a finite life, the carrying value of the intangible asset would then be amortized prospectively over the estimated remaining useful life. The Company’s “Casual Male” trademark is considered a finite-lived asset. Other intangible assets with defined lives are amortized over their useful lives.

At least annually, as of the Company’s December month-end, the Company evaluates its “Rochester” trademark. The Company performs an impairment analysis and records an impairment charge for any intangible assets with a carrying value in excess of its fair value.

In the fourth quarter of fiscal 2017, the “Rochester” trademark was tested for potential impairment, utilizing the relief from royalty method to determine the estimated fair value. The Company concluded that the “Rochester” trademark, with a carrying value of $1.5 million at February 3, 2018, was not impaired. Although some of the Rochester locations have closed as part of the DXL expansion, the Rochester Clothing stores that remain open as well as the Rochester brands that are sold in DXL stores and website are currently expected to generate more than sufficient cash flows to support the carrying value of $1.5 million for the “Rochester” trademark.

During the fiscal 2011 annual evaluation of intangibles, the Company determined that its “Casual Male” trademark could no longer be considered an indefinite-lived asset. As the Company opens DXL stores, it is closing the majority of its Casual Male XL stores in those respective markets. The carrying value of the trademark is being amortized on an accelerated basis against projected cash flows through fiscal 2018, its estimated remaining useful life.

Below is a table showing the changes in the carrying value of the Company’s intangible assets from January 28, 2017 to February 3, 2018:

(in thousands)	January 28, 2017		Additions		Impairment		Amortization			February 3, 2018
"Rochester" trademark	$	1,500	$	—	$	—	$	—		$	1,500
"Casual Male" trademark		599		—		—		(307	)		292
Other intangibles ⁽¹⁾		129		—		—		(100	)		29
Total intangible assets	$	2,228	$	—	$	—	$	(407	)	$	1,821

(1)	Other intangibles consist of customer lists, which have a finite life of 16 years based on its estimated economic useful life. At February 3, 2018, customer lists have a remaining life of 3 months.

The gross carrying amount and accumulated amortization of the customer lists and “Casual Male” trademark, subject to amortization, were $7.7 million and $7.4 million, respectively, at February 3, 2018 and $7.7 million and $7.0 million, respectively, at January 28, 2017. Amortization expense for fiscal 2017, 2016 and 2015 was $0.4 million, $0.4 million and $0.6 million, respectively.

Expected amortization expense for the Company’s “Casual Male” trademark and customer lists, for the next five fiscal years is as follows:

FISCAL YEAR	(in thousands)
2018	$	321
2019		—
2020		—
2021		—
2022		—

Pre-opening Costs

The Company expenses all pre-opening costs for its stores as incurred.

Advertising Costs

The Company expenses in-store advertising costs as incurred. Television advertising costs are expensed in the period in which the advertising is first aired. Direct response advertising costs, if any, are deferred and amortized over the period of expected direct marketing revenues, which is less than one year. There were no deferred direct response costs at February 3, 2018 and January 28, 2017. Advertising expense, which is included in selling, general and administrative expenses, was $29.5 million, $18.2 million and $23.6 million for fiscal 2017, 2016 and 2015, respectively.

Revenue Recognition

Revenue from the Company’s retail store operations is recorded upon purchase of merchandise by customers, net of an allowance for sales returns. Revenue from the Company’s e-commerce operations is recognized at the time a customer order is delivered, net of an allowance for sales returns. 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. E-commerce sales are defined as sales that originate online, including those initiated online at the store level. Sales tax collected from customers is excluded from revenue and is included as part of accrued expenses on the Company’s Consolidated Balance Sheets.

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 and reclassifications from AOCI for fiscal 2017, fiscal 2016 and fiscal 2015 are as follows:

	Fiscal 2017									Fiscal 2016									Fiscal 2015
(in thousands)
	Pension Plans			Foreign Currency			Total			Pension Plans			Foreign Currency			Total			Pension Plans			Foreign Currency			Total
Balance at beginning of fiscal year	$	(5,237	)	$	(781	)	$	(6,018	)	$	(6,113	)	$	(539	)	$	(6,652	)	$	(7,795	)	$	(443	)	$	(8,238	)

Other comprehensive income (loss) before reclassifications, net of taxes		820			393			1,213			171			(242	)		(71	)		1,035			(96	)		939

Amounts reclassified from accumulated other comprehensive income (loss), net of taxes ⁽¹⁾		670			—			670			705			—			705			647			—			647

Other comprehensive income (loss) for the period		1,490			393			1,883			876			(242	)		634			1,682			(96	)		1,586

Adjustment to reclassify intraperiod tax allocation to accumulated deficit (Note D)		(2,093	)		(15	)		(2,108	)		—			—			—			—			—			—

Balance at end of fiscal year	$	(5,840	)	$	(403	)	$	(6,243	)	$	(5,237	)	$	(781	)	$	(6,018	)	$	(6,113	)	$	(539	)	$	(6,652	)

(1)

Includes the amortization of the unrecognized (gain)/loss on pension 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, before tax, was $670,000, $705,000 and $647,000 for fiscal 2017, fiscal 2016 and fiscal 2015, respectively. There was no corresponding tax benefit.

Foreign Currency Translation

At February 3, 2018, the Company had one Rochester Clothing store located in London, England and two stores located in Toronto, Canada. Assets and liabilities for these stores are translated into U.S. dollars at the exchange rates in effect at each balance sheet date. Stockholders’ equity is translated at applicable historical exchange rates. Income, expense and cash flow items are translated at average exchange rates during the period. Resulting translation adjustments are reported as a separate component of stockholders’ equity.

Shipping and Handling Costs

Shipping and handling costs are included in cost of sales for all periods presented. Amounts related to shipping and handling that are billed to customers are recorded in net sales, and the related costs are recorded in Cost of Goods Sold, Including Occupancy Costs, in the Consolidated Statements of Operations.

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.

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 which were material to its results of operations for fiscal 2017, fiscal 2016 and fiscal 2015.

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 2002, with remaining fiscal years subject to income tax examination by federal tax authorities.

Net Loss Per Share

Basic earnings per share are computed by dividing net income (loss) 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 restricted stock 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, 2018		January 28, 2017		January 30, 2016
(in thousands)
Common stock outstanding:
Basic weighted average common shares outstanding		48,888		49,544		49,089
Common stock equivalents – stock options, restricted stock and restricted stock units (RSUs) ⁽¹⁾		—		—		—
Diluted weighted average common shares outstanding		48,888		49,544		49,089

(1)	Common stock equivalents, in thousands, of 134 shares, 439 shares and 583 shares for February 3, 2018, January 28, 2017 and January 30, 2016, respectively, were excluded due to the net loss.

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, restricted or deferred stock had an anti-dilutive effect.

	FISCAL YEARS ENDED
	February 3, 2018		January 28, 2017		January 30, 2016
(in thousands, except exercise prices)
Stock options (time-vested)		1,196		1,162		1,244
RSUs (time-vested)		732		370		—
Restricted and deferred stock		63		8		22
Range of exercise prices of such options	$1.85-$7.52		$4.49-$7.52		$4.96-$7.52

Excluded from the computation of basic earnings per shares in fiscal 2017 were 36,666 shares of unvested time-based restricted shares and 115,457 shares of deferred stock until such shares vest.

Although the shares of restricted stock are not considered outstanding for basic earnings per share purposes until vested, all shares of restricted stock were considered issued and outstanding at February 3, 2018. Each share of restricted stock has all of the rights of a holder of the Company’s common stock, including, but not limited to, the right to vote and the right to receive dividends, which rights are forfeited if the restricted stock is forfeited. Outstanding shares of deferred stock are not considered issued and outstanding until the vesting date of the deferral period.

Stock-based Compensation

ASC Topic 718, Compensation – Stock Compensation, requires measurement of compensation cost for all stock awards at fair value on 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 values derived from using the Black-Scholes model are 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.

The Company recognized total stock-based compensation expense, with no tax effect, of $1.6 million, $1.3 million and $2.2 million for fiscal 2017, fiscal 2016 and fiscal 2015, respectively.

The total stock-based compensation cost related to time-vested awards not yet recognized as of February 3, 2018 was approximately $1.8 million and will be expensed over a weighted average remaining life of approximately 20 months.

The total grant-date fair value of awards vested was $1.8 million, $2.9 million and $1.0 million for fiscal 2017, 2016 and 2015, respectively.

Any excess tax benefits resulting from the exercise of stock options or the release of restricted shares are recognized as a component of income tax expense. Prior to the adoption of ASU 2016-09 in fiscal 2017, any excess tax benefits were recognized as additional paid-in capital.

Valuation Assumptions for Stock Options

The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions used for grants in fiscal 2017, 2016 and 2015:

Fiscal years ended:	February 3, 2018		January 28, 2017		January 30, 2016
Expected volatility	49.9%		39.3%-42.7%		37.0%-39.0%
Risk-free interest rate	1.44%		0.78%-1.23%		0.75%-1.25%
Expected life (in years)	3.0		2.0		1.8-4.0
Dividend rate		—		—		—
Weighted average fair value of options granted	$	0.65	$1.02		$1.44

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 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 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 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.

For fiscal 2017 and fiscal 2016, the Company recorded impairment charges of $4.1 million and $0.4 million, respectively, for the write-down of property and equipment. Impairment charges related to stores where the carrying value exceeded fair value. The fair value of these assets, based on Level 3 inputs, was determined using estimated discounted cash flows. Also included in the charge for fiscal 2017 was the write-off of certain costs of $1.9 million associated with technology projects that were abandoned.

The impairment charge for fiscal 2016 was reclassified from “Depreciation and amortization” to “Impairment of assets” on the Consolidated Statement of Operations, for comparability with fiscal 2017. There was no material impairment of assets in fiscal 2015.

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 net sales in the Consolidated Statements of Operations. The gift card liability, net of breakage, was $2.2 million and $2.4 million at February 3, 2018 and January 28, 2017, respectively.

Recently Adopted Accounting Pronouncements

In July 2015, the FASB issued ASU 2015-11, "Inventory (Topic 330): Simplifying the Measurement of Inventory," which applies to inventory that is measured using first-in, first-out ("FIFO") or average cost. Under the updated guidance, an entity should measure inventory that is within scope at the lower of cost and net realizable value, which is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The Company adopted this pronouncement as of January 29, 2017. The adoption of this standard did not have a material impact on the Company’s Consolidated Financial Statements.

In March 2016, the FASB issued ASU 2016-09, “Compensation - Stock Compensation (Topic 718) - Improvements to Employee Share-Based Payment Accounting,” which simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards, and classification on the statement of cash flows. The standard is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The Company adopted this standard during the first quarter of fiscal 2017. The adoption of this standard did not have a material impact on the Company’s provision for income taxes or diluted earnings per share. The Company has elected to adopt the guidance related to the presentation of excess tax benefits in its Consolidated Statements of Cash Flows on a prospective transition method. Since there were no excess tax benefits for fiscal 2017, 2016 or 2015 this election did not result in a change in presentation on the Consolidated Statement of Cash Flows. In addition, the Company has elected to continue to estimate forfeitures at each grant.

Recent Accounting Pronouncements

The Company has reviewed accounting pronouncements and interpretations thereof that have effective dates during the periods reported and in future periods. The Company believes that the following impending standards may have an impact on its future filings.

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), which amends the accounting guidance on revenue recognition. The amendments in this ASU are intended to provide a framework for addressing revenue issues, improve comparability of revenue recognition practices, and improve disclosure requirements. This ASU sets forth a five-step model for determining when and how revenue is recognized. Under the model, an entity will be required to recognize revenue to depict the transfer of goods or services to a customer at an amount reflecting the consideration it expects to receive in exchange for those goods or services. The amendments in this accounting standard update are effective for interim and annual reporting periods beginning after December 15, 2017. The standard can be adopted either retrospectively to each reporting period presented or as a cumulative effect adjustment as of the date of adoption. To assess the impact of ASU 2014-09, the Company reviewed its current accounting policies and practices, identified all material revenue streams, assessed the impact of the ASU on its material revenue streams and identified potential differences with current policies and practices.

The Company plans to adopt this standard in the first quarter of fiscal 2018, with no significant impact, using the modified retrospective approach. Generally, the Company’s performance obligations are satisfied the same day that contracts with customers are initiated. As such, the adoption of the new standard will not have a material impact on the Company’s Consolidated Financial Statements, business processes, controls or systems, but the Company expects to have enhanced disclosures related to disaggregation of revenue sources and accounting policies.

In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842).” This ASU is a comprehensive new leases standard that amends various aspects of existing guidance for leases and requires additional disclosures about leasing arrangements. It will require lessees to recognize lease assets and lease liabilities for most leases, including those leases previously classified as operating leases under current GAAP. The ASU retains a distinction between finance leases and operating leases. The classification criteria for distinguishing between finance leases and operating leases are substantially similar to the classification criteria for distinguishing between capital leases and operating leases in the previous leases guidance. The ASU is effective for annual periods beginning after December 15, 2018, including interim periods within those years; earlier adoption is permitted. While there is an exposure draft to amend Topic 842 to provide entities with an additional transition method, presently the Company would be required to adopt this ASU using the modified retrospective approach.

The Company has selected its leasing software solution and is in the process of identifying changes to its business processes, systems and controls to support adoption of the new standard in fiscal 2019. The Company is evaluating the impact that the new standard will have on the consolidated financial statements. While the Company is still in the process of quantifying the impact, it expects the adoption of the new standard to result in a material gross-up of its Consolidated Balance Sheets as a result of recognizing lease liabilities and right of use assets.

In March 2016, the FASB issued ASU 2016-04, “Liabilities—Extinguishments of Liabilities: Recognition of Breakage for Certain Prepaid Stored-Value Products,” which amends exempting gift cards and other prepaid stored-value products from the guidance on extinguishing financial liabilities. Rather, they will be subject to breakage accounting consistent with the new revenue guidance in Topic 606. However, the exemption only applies to breakage liabilities that are not subject to unclaimed property laws or that are attached to segregated bank accounts (e.g., consumer debit cards). The ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. The Company will adopt ASU 2016-04 in the first quarter of fiscal 2018 and does not expect the adoption of this pronouncement to have a material impact on its Consolidated Financial Statements.

In August 2016, the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments,” which reduces the existing diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows under Topic 230. The ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company will adopt ASU 2016-15 in the first quarter of fiscal 2018 and does not expect the adoption of this pronouncement to have a material impact on its Consolidated Financial Statements.

In October 2016, the FASB issued ASU 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfer of Assets Other Than Inventory,” which reduces the existing diversity in practice in how income tax consequences of an intra-entity transfer of an asset other than inventory should be recognized. The amendments in ASU 2016-16 require an entity to recognize such income tax consequences when the intra-entity transfer occurs rather than waiting until such time as the asset has been sold to an outside party. The ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company does not expect the adoption of this pronouncement to have a material impact on its Consolidated Financial Statements.

In May 2017, the FASB issued ASU 2017-09, “Compensation—Stock Compensation (Topic 718)”which provides clarity in order to reduce both (1) diversity in practice and (2) cost and complexity when applying the guidance in Topic 718, Compensation—Stock Compensation, to a change to the terms or conditions of a share-based payment award. Under the new guidance, modification accounting is required only if the fair value, the vesting conditions, or the classification of the award (as equity or liability) changes as a result of the change in terms or conditions. The ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. The Company will adopt ASU 2017-09 in the first quarter of fiscal 2018 and does not expect the adoption of this pronouncement to have a material impact on its Consolidated Financial Statements.

No other new accounting pronouncements, issued or effective during fiscal 2017, have had or are expected to have a significant impact on the Company’s Consolidated Financial Statements.

Property and Equipment

12 Months Ended

Feb. 03, 2018

Property Plant And Equipment [Abstract]

Property and Equipment

B. PROPERTY AND EQUIPMENT

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

(in thousands)	February 3, 2018		January 28, 2017
Furniture and fixtures	$	75,895	$	72,440
Equipment		21,612		20,453
Leasehold improvements		117,274		107,470
Hardware and software		84,532		76,923
Construction in progress		4,981		9,892
		304,294		287,178
Less: accumulated depreciation		193,262		162,831
Total property and equipment	$	111,032	$	124,347

Depreciation expense for fiscal 2017, 2016 and 2015 was $30.7 million, $29.8 million and $27.7 million, respectively.

Debt Obligations

12 Months Ended

Feb. 03, 2018

Debt Disclosure [Abstract]

Debt Obligations

C. DEBT OBLIGATIONS

Credit Agreement with Bank of America, N.A.

On October 30, 2014, the Company amended its credit facility with Bank of America, N.A., effective October 29, 2014, by executing the Second Amendment to the Sixth Amended and Restated Loan and Security Agreement (as amended, the “Credit Facility”).

The Credit Facility provides for $125 million in committed borrowings. The Credit Facility includes, pursuant to an accordion feature, the ability to increase the Credit Facility by an additional $50 million upon the request of the Company and the agreement of the lender(s) participating in the increase. The Credit Facility includes a sublimit of $20 million for commercial and standby letters of credit and a sublimit of up to $15 million for swingline loans. The Company’s ability to borrow under the Credit Facility is determined using an availability formula based on eligible assets. The maturity date of the Credit Facility is October 29, 2019. The Company’s obligations under the Credit Facility are secured by a lien on substantially all of its assets, excluding (i) a first priority lien held by the lenders of the Term Loan Facility, as described below, on certain equipment of the Company and (ii) intellectual property.

At February 3, 2018, the Company had outstanding borrowings under the Credit Facility of $47.6 million, before unamortized debt issuance costs of $0.2 million. Outstanding standby letters of credit were $3.3 million and documentary letters of credit were $1.3 million. Unused excess availability at February 3, 2018 was $37.5 million. Average monthly borrowings outstanding under the Credit Facility during fiscal 2017 were $59.7 million, resulting in an average unused excess availability of approximately $42.5 million. The Company’s ability to borrow under the Credit Facility is determined using an availability formula based on eligible assets, with increased advance rates based on seasonality. Pursuant to the terms of the Credit Facility, if the Company’s excess availability under the Credit Facility fails to be equal to or greater than the greater of (i) 10% of the Loan Cap (defined in the Credit Facility as the lesser of the revolving credit commitments at such time or the borrowing base at the relevant measurement time) and (ii) $7.5 million, the Company will be required to maintain a minimum consolidated fixed charge coverage ratio of 1.0:1.0 in order to pursue certain transactions, including but not limited to, stock repurchases, payment of dividends and business acquisitions.

Borrowings made pursuant to the Credit Facility bear interest at a rate equal to the base rate (determined as the highest of (a) Bank of America N.A.’s prime rate, (b) the Federal Funds rate plus 0.50% or (c) the annual ICE-LIBOR rate (“LIBOR”) for the respective interest period) plus a varying percentage, based on the Company’s borrowing base, of 0.50%-0.75% for prime-based borrowings and 1.50%-1.75% for LIBOR-based borrowings. The Company is also subject to an unused line fee of 0.25%. At February 3, 2018, the Company’s prime-based interest rate was 5.00%.

At February 3, 2018, the Company had approximately $40.0 million of its outstanding borrowings in a LIBOR-based contract with an interest rate of approximately 2.97%. The LIBOR-based contract expired February 6, 2018. When a LIBOR-based borrowing expires, the borrowings revert back to prime-based borrowings unless the Company enters into a new LIBOR-based borrowing arrangement.

The fair value of the amount outstanding under the Credit Facility at February 3, 2018 approximated the carrying value.

Long-Term Debt

Components of long-term debt are as follows:

(in thousands)	February 3, 2018			January 28, 2017
Equipment financing notes	$	501		$	6,589
Term loan, due 2019		11,750			12,750
Less: unamortized debt issuance costs		(190	)		(337	)
Total long-term debt		12,061			19,002
Less: current portion of long-term debt		1,392			6,941
Long-term debt, net of current portion	$	10,669		$	12,061

Equipment Financing Loans

Pursuant to a Master Loan and Security Agreement with Banc of America Leasing & Capital, LLC, dated July 20, 2007 and amended September 30, 2013 (the “Master Agreement”), the Company has entered into twelve equipment security notes (in aggregate, the “Notes”). The Company borrowed an aggregate of $26.4 million between September 2013 and June 2014. The Notes are for a term of 48 months and accrue interest at fixed rates ranging from 3.07% to 3.50%. Principal and interest are paid monthly, in arrears.

The Notes are secured by a security interest in all of the Company’s rights, title and interest in and to certain equipment. The Company was subject to prepayment penalties through the second anniversary of each of the Notes. The Company is no longer subject to any prepayment penalties. The Master Agreement includes default provisions that are customary for financings of this type and are similar and no more restrictive than the Company’s existing Credit Facility.

Term Loan

On October 30, 2014, the Company entered into a term loan agreement with respect to a new $15 million senior secured term loan facility with Wells Fargo Bank, National Association as administrative and collateral agent (the “Term Loan Facility”). The effective date of the Term Loan Facility was October 29, 2014 (the “Effective Date”). The proceeds from the Term Loan Facility were used to repay borrowings under the Credit Facility.

The Term Loan Facility bears interest at a rate per annum equal to the greater of (a) 1.00% and (b) the one month LIBOR rate, plus 6.50%. Interest payments are payable on the first business day of each calendar month, and increase by 2% following the occurrence and during the continuance of an “event of default,” as defined in the Term Loan Facility. The Term Loan Facility provides for quarterly principal payments on the first business day of each calendar quarter, which commenced the first business day of January 2015, in an aggregate principal amount equal to $250,000, subject to adjustment, with the balance payable on the termination date.

The Term Loan Facility includes usual and customary mandatory prepayment provisions for transactions of this type that are triggered by the occurrence of certain events. In addition, the amounts advanced under the Term Loan Facility can be optionally prepaid in whole or part. The Company is no longer subject to any prepayment penalties.

The Term Loan Facility matures on October 29, 2019. It is secured by a first priority lien on certain equipment of the Company, and a second priority lien on substantially all of the remaining assets of the Company, excluding intellectual property.

Long-term debt maturities

Annual maturities of long-term debt for the next five fiscal years are as follows:

	(in thousands)
Fiscal 2018	$	1,501
Fiscal 2019		10,750
Fiscal 2020		—
Fiscal 2021		—
Fiscal 2022		—

The Company paid interest and fees totaling $3.2 million, $2.8 million and $2.8 million for fiscal 2017, 2016 and 2015, respectively.

Income Taxes

12 Months Ended

Feb. 03, 2018

Income Tax Disclosure [Abstract]

Income Taxes

D. 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 regulation requires 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.

Since the fourth quarter of fiscal 2013, the Company has maintained a valuation allowance against its deferred tax assets. While the Company has projected it will return to profitability, generate taxable income and ultimately emerge from a three-year cumulative loss, based on operating results for fiscal 2017 and the Company’s forecast for fiscal 2018, the Company believes that a full allowance remains appropriate at this time. Realization of the Company’s deferred tax assets is dependent on generating sufficient taxable income in the near term.

The Tax Cuts and Jobs Act (the “2017 Tax Act”) was enacted on December 22, 2017. The 2017 Tax Act reduced the U.S. federal corporate tax rate from 35% to 21%, eliminated the 20-year limit on the carryforward of losses, and resulted in the Company remeasuring its existing deferred tax balances. In addition, the 2017 Tax Act limits the future deductibility of certain items, such as certain compensation and interest expenses, and allows qualifying capital expenditures to be deducted fully in the year of purchase. The Company remeasured deferred tax assets and liabilities based on the rates at which they are expected to reverse in the future, which is generally 21%. Because the Company’s valuation allowance against these deferred assets was also remeasured, there was no impact to the Company’s income tax provision, see the reconciliation table between the statutory and effective income tax rates. The Tax Act will allow for the indefinite carryforward of future net operating losses and will impose an annual limitation on the utilization of future losses, based on 80% of taxable income.

As of February 3, 2018, for federal income tax purposes, the Company has net operating loss carryforwards of $141.4 million, which will expire from 2022 through 2036 and net operating loss carryforwards of $16.1 million that are not subject to expiration. For state income tax purposes, the Company has $88.6 million of net operating losses that are available to offset future taxable income. Additionally, the Company has $2.8 million of net operating loss carryforwards related to the Company’s operations in Canada.

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 part of the 2017 Tax Act, the corporate alternative minimum tax (“AMT”) was repealed and the Company’s AMT credit of $2.1 million became refundable. Accordingly, the Company reversed its valuation allowance against the AMT credit, recognized an income tax benefit for $2.1 million and established a non-current receivable of $2.1 million, which will be realized over the next four years.

During 2017, the Company reclassified approximately $2.1 million to accumulated deficit from accumulated other comprehensive income (loss) due to intraperiod tax allocations. Approximately $1.4 million of this pertained to years prior to FY 2017.

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

	February 3, 2018			January 28, 2017

Deferred tax assets:
Net operating loss carryforward	$	38,801		$	50,399
Gain on sale-leaseback		3,036			5,170
Accrued expenses and other		2,089			4,340
Lease accruals		2,322			4,358
Goodwill and intangibles		338			1,513
Unrecognized loss on pension and pension expense		1,801			3,311
Capital loss carryforward		1,996			3,021
Inventory reserves		1,539			2,659
Alternative minimum tax credit carryforward		—			2,292
Foreign tax credit carryforward		766			901
Federal wage tax credit carryforward		824			707
Unrecognized loss on foreign exchange		148			328
State tax credits		147			124
Excess of tax over book depreciation/amortization		(6,144	)		(15,192	)
Subtotal	$	47,663		$	63,931
Valuation allowance		(47,663	)		(63,931	)
Net deferred tax assets	$	—		$	—

Deferred tax liabilities:
Goodwill and intangibles	$	—		$	(222	)
Deferred tax liabilities	$	—		$	(222	)

For fiscal 2017, the Company had total deferred tax assets of $53.8 million, total deferred tax liabilities of $6.1 million and a valuation allowance of $47.7 million.

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

FISCAL YEARS ENDED

February 3, 2018

January 28, 2017