View Filing Data

Print Document View Excel Document

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Feb. 03, 2018	Apr. 02, 2018	Jul. 29, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	Ollie's Bargain Outlet Holdings, Inc.
Entity Central Index Key	0001639300
Current Fiscal Year End Date	--02-03
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 2.2
Entity Common Stock, Shares Outstanding		62,203,435
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Feb. 03, 2018

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Feb. 03, 2018	Oct. 28, 2017	Jul. 29, 2017	Apr. 29, 2017	Jan. 28, 2017	Oct. 29, 2016	Jul. 30, 2016	Apr. 30, 2016	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Consolidated Statements of Income [Abstract]
Net sales	$ 356,669	$ 238,116	$ 254,645	$ 227,602	$ 283,355	$ 201,985	$ 211,256	$ 193,719	$ 1,077,032	$ 890,315	$ 762,370
Cost of sales									645,385	529,904	459,506
Gross profit	140,497	97,989	100,226	92,935	113,392	84,190	83,814	79,015	431,647	360,411	302,864
Selling, general and administrative expenses									278,174	242,891	209,783
Depreciation and amortization expenses									9,817	8,443	7,172
Pre-opening expenses									7,900	6,883	6,337
Operating income									135,756	102,194	79,572
Interest expense, net									4,471	5,935	15,416
Loss on extinguishment of debt									798	0	6,710
Income before income taxes									130,487	96,259	57,446
Income tax expense									2,893	36,495	21,607
Net income	$ 70,054	$ 18,862	$ 19,712	$ 18,966	$ 24,420	$ 10,461	$ 13,135	$ 11,748	$ 127,594	$ 59,764	$ 35,839
Earnings per common share:
Basic (in dollars per share)	$ 1.13	$ 0.31	$ 0.32	$ 0.31	$ 0.40	$ 0.17	$ 0.22	$ 0.20	$ 2.08	$ 0.99	$ 0.67
Diluted (in dollars per share)	$ 1.07	$ 0.29	$ 0.30	$ 0.29	$ 0.39	$ 0.17	$ 0.21	$ 0.19	$ 1.96	$ 0.96	$ 0.64
Weighted average common shares outstanding:
Basic (in shares)									61,353	60,160	53,835
Diluted (in shares)									64,950	62,415	55,796

Consolidated Balance Sheets - USD ($) $ in Thousands	Feb. 03, 2018	Jan. 28, 2017
Current assets:
Cash and cash equivalents	$ 39,234	$ 98,683
Inventories	255,185	210,107
Accounts receivable	1,271	301
Prepaid expenses	7,986	3,739
Total current assets	303,676	312,830
Property and equipment, net of accumulated depreciation of $50,076 and $38,393, respectively	54,888	46,333
Goodwill	444,850	444,850
Trade name and other intangible assets, net of accumulated amortization of $1,825 and $1,636, respectively	232,639	232,977
Other assets	2,146	2,385
Total assets	1,038,199	1,039,375
Current liabilities:
Current portion of long-term debt	10,158	5,077
Accounts payable	74,206	50,448
Income taxes payable	6,035	4,548
Accrued expenses	46,327	44,748
Total current liabilities	136,726	104,821
Revolving credit facility	0	0
Long-term debt	38,835	188,923
Deferred income taxes	59,073	89,224
Other long-term liabilities	7,103	5,146
Total liabilities	241,737	388,114
Stockholders' equity:
Preferred stock - 50,000 shares authorized at $0.001 par value; no shares issued	0	0
Common stock - 500,000 shares authorized at $0.001 par value; 62,007 and 60,756 shares issued, respectively	62	61
Additional paid-in capital	583,467	565,861
Retained earnings	213,019	85,425
Treasury - common stock, at cost; 9 shares	(86)	(86)
Total stockholders' equity	796,462	651,261
Total liabilities and stockholders' equity	$ 1,038,199	$ 1,039,375

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Feb. 03, 2018	Jan. 28, 2017
Assets
Property and equipment, accumulated depreciation	$ 50,076	$ 38,393
Trade name and other intangible assets, accumulated amortization	$ 1,825	$ 1,636
Stockholders' equity:
Preferred stock, shares authorized (in shares)	50,000	50,000
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares issued (in shares)	0	0
Common stock, shares authorized (in shares)	500,000	500,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares issued (in shares)	62,007	60,756
Treasury - common stock (in shares)	9	9

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Common Stock [Member] Class A [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance at Jan. 31, 2015	$ 0	$ 48	$ (29)	$ 393,078	$ 23,738	$ 416,835
Beginning balance (in shares) at Jan. 31, 2015	0	48,203,000	(3,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 0	$ 0	$ 0	5,035	0	5,035
Proceeds from stock options exercised	$ 1	$ 0	$ 0	2,270	0	2,271
Proceeds from stock options exercised (in shares)	335,000	5,000	0
Excess tax benefit related to exercises of stock options	$ 0	$ 0	$ 0	1,068	0	1,068
Conversion of Class A and Class B common stock to a single class of common stock		$ (48)
Conversion of Class A and Class B common stock to a single class of common stock (in shares)		(48,208,000)
Conversion of Class A and Class B common stock to a single class of common stock	$ 48		$ 0	0	0	0
Conversion of Class A and Class B common stock to a single class of common stock (in shares)	48,208,000		0
Proceeds from issuance of common stock, net of expenses	$ 10	$ 0	$ 0	149,796	0	149,806
Proceeds from issuance of common stock, net of expenses (in shares)	10,264,000	0	0
Dividend paid	$ 0	$ 0	$ 0	(14,932)	(33,916)	(48,848)
Purchase of treasury stock	$ 0	$ 0	$ (57)	0	0	$ (57)
Purchase of treasury stock (in shares)	0	0	(6,000)			(5,570)
Net income	$ 0	$ 0	$ 0	0	35,839	$ 35,839
Ending balance at Jan. 30, 2016	$ 59	$ 0	$ (86)	536,315	25,661	561,949
Ending balance (in shares) at Jan. 30, 2016	58,807,000	0	(9,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 0	$ 0	$ 0	6,685	0	6,685
Proceeds from stock options exercised	$ 2	$ 0	$ 0	13,302	0	13,304
Proceeds from stock options exercised (in shares)	1,949,000	0	0
Excess tax benefit related to exercises of stock options	$ 0	$ 0	$ 0	9,559	0	$ 9,559
Purchase of treasury stock (in shares)						0
Net income	0	0	0	0	59,764	$ 59,764
Ending balance at Jan. 28, 2017	$ 61	$ 0	$ (86)	565,861	85,425	651,261
Ending balance (in shares) at Jan. 28, 2017	60,756,000	0	(9,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 0	$ 0	$ 0	7,413	0	7,413
Proceeds from stock options exercised	$ 1	$ 0	$ 0	10,412	0	$ 10,413
Proceeds from stock options exercised (in shares)	1,231,000	0	0
Purchase of treasury stock (in shares)						0
Vesting of restricted stock	$ 0	$ 0	$ 0	0	0	$ 0
Vesting of restricted stock (in shares)	27,000	0	0
Common shares withheld for taxes	$ 0	$ 0	$ 0	(219)	0	(219)
Common shares withheld for taxes (in shares)	(7,000)	0	0
Net income	$ 0	$ 0	$ 0	0	127,594	127,594
Ending balance at Feb. 03, 2018	$ 62	$ 0	$ (86)	$ 583,467	$ 213,019	$ 796,462
Ending balance (in shares) at Feb. 03, 2018	62,007,000	0	(9,000)

Consolidated Statements of Stockholders' Equity (Parenthetical)	12 Months Ended
	Jan. 30, 2016 $ / shares
Consolidated Statements of Stockholders' Equity [Abstract]
Dividend paid (in dollars per share)	$ 1.01

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 income	$ 127,594	$ 59,764	$ 35,839
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment	11,923	10,291	8,913
Amortization of debt issuance costs	640	746	1,273
Amortization of original issue discount	17	25	436
Loss on extinguishment of debt	798	0	6,710
Amortization of intangibles	338	377	428
Gain on disposal of assets	(29)	(4)	0
Deferred income tax provision (benefit)	(30,323)	1,867	(1,731)
Deferred rent expense	1,920	1,369	1,873
Stock-based compensation expense	7,413	6,685	5,035
Excess tax benefit related to exercises of stock options	0	(9,559)	(1,068)
Changes in operating assets and liabilities:
Inventories	(45,078)	(19,499)	(20,736)
Accounts receivable	(970)	(118)	135
Prepaid expenses	(4,424)	(1,264)	(730)
Accounts payable	22,955	(1,822)	1,543
Income taxes payable	1,487	10,005	468
Accrued expenses and other liabilities	1,675	8,225	7,460
Net cash provided by operating activities	95,936	67,088	45,848
Cash flows from investing activities:
Purchases of property and equipment	(19,285)	(16,438)	(14,203)
Acquisition of intangible assets	0	0	(157)
Proceeds from sale of property and equipment	128	15	23
Net cash used in investing activities	(19,157)	(16,423)	(14,337)
Cash flows from financing activities:
Borrowings on revolving credit facility	1,142,888	946,683	858,053
Repayments on revolving credit facility	(1,142,888)	(946,683)	(858,053)
Borrowings on term loan	0	0	200,000
Repayments on term loan and capital leases	(146,422)	(5,104)	(324,076)
Proceeds from issuance of common stock, net of expenses	0	0	149,806
Proceeds from stock option exercises	10,413	13,304	2,271
Common shares withheld for taxes	(219)	0	0
Excess tax benefit related to exercises of stock options	0	9,559	1,068
Payment of debt issuance costs	0	0	(3,368)
Payment of dividend	0	0	(48,848)
Purchase of treasury stock	0	0	(57)
Net cash provided by (used in) financing activities	(136,228)	17,759	(23,204)
Net increase (decrease) in cash and cash equivalents	(59,449)	68,424	8,307
Cash and cash equivalents at the beginning of the period	98,683	30,259	21,952
Cash and cash equivalents at the end of the period	39,234	98,683	30,259
Cash paid during the period for:
Interest	3,806	5,179	13,829
Income taxes	31,949	24,859	22,824
Non-cash investing activities:
Accrued purchases of property and equipment	$ 1,925	$ 1,009	$ 402

Organization and Summary of Significant Accounting Policies

12 Months Ended

Feb. 03, 2018

Organization and Summary of Significant Accounting Policies [Abstract]

Organization and Summary of Significant Accounting Policies

(1)	Organization and Summary of Significant Accounting Policies

(a)

Description of Business

Ollie’s Bargain Outlet Holdings, Inc. and subsidiaries (collectively referenced to as “the Company” or “Ollie’s”) principally buys overproduced, overstocked and closeout merchandise from manufacturers, wholesalers and other retailers. In addition, the Company augments its name-brand closeout deals with directly sourced private label products featuring names exclusive to Ollie’s in order to provide consistently value-priced goods in select key merchandise categories.

Since the first store opened in 1982, the Company has grown to 268 retail locations in 20 states as of February 3, 2018. Ollie’s Bargain Outlet retail locations are located in Alabama, Connecticut, Delaware, Florida, Georgia, Indiana, Kentucky, Maryland, Michigan, Mississippi, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Virginia, and West Virginia.

(b)

Fiscal Year

Ollie’s follows a 52/53-week fiscal year, which ends on the Saturday nearer January 31 of the following calendar year. References to the fiscal year ended February 3, 2018 refer to the 53-week period from January 29, 2017 to February 3, 2018 (“2017”). References to the fiscal year ended January 28, 2017 refer to the 52-week period from January 31, 2016 to January 28, 2017 (“2016”). References to the fiscal year ended January 30, 2016 refer to the 52-week period from February 1, 2015 to January 30, 2016 (“2015”).

(c)

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany transactions have been eliminated in consolidation.

(d)

Use of Estimates

The preparation of consolidated financial statements in conformity with U.S. Generally Accepted Accounting Principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

(e)

Fair Value Disclosures

Fair value is defined as the price which the Company would receive to sell an asset or pay to transfer a liability (an exit price) in an orderly transaction between market participants on the measurement date. In determining fair value, GAAP establishes a three‑level hierarchy used in measuring fair value, as follows:

Level 1 inputs are quoted prices available for identical assets and liabilities in active markets.

Level 2 inputs are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets and liabilities in active markets or other inputs that are observable or can be corroborated by observable market data.

Level 3 inputs are less observable and reflect the Company’s assumptions.

Ollie’s financial instruments consist of cash and cash equivalents, accounts receivable, accounts payable and the Company’s term loan. The carrying amounts of cash, accounts receivable and accounts payable approximate fair value because of their short maturities. The carrying amount of the Company’s term loan facility approximates its fair value because the interest rates are adjusted regularly based on current market conditions.

(f)

Cash and Cash Equivalents

The Company considers cash on hand in stores, bank deposits, credit card receivables, and all highly liquid investments with remaining maturities of three months or less at the date of acquisition to be cash and cash equivalents. Amounts receivable from credit card issuers are typically converted to cash within one to two business days of the original sales transaction.

(g)

Concentration of Credit Risk

A financial instrument which potentially subjects the Company to a concentration of credit risk is cash. Ollie’s currently maintains its day‑to‑day operating cash balances with major financial institutions. The Company’s operating cash balances are in excess of the Federal Deposit Insurance Corporation (“FDIC”) insurance limit. From time to time, Ollie’s invests temporary excess cash in overnight investments with expected minimal volatility, such as money market funds. Although the Company maintains balances which exceed the FDIC insured limit, it has not experienced any losses related to this balance, and Ollie’s believes the credit risk to be minimal.

(h)

Inventories

Inventories are stated at the lower of cost or market determined using the retail inventory method on a first-in, first-out basis. The cost of inventories includes the merchandise cost, transportation costs, and certain distribution and storage costs. Such costs are thereafter expensed as cost of sales upon the sale of the merchandise. The retail inventory method uses estimates for shrinkage and markdowns to calculate ending inventory. These estimates made by management could significantly impact the ending inventory valuation at cost and the resulting gross margin.

(i)

Property and Equipment

Property and equipment are stated at original cost less accumulated depreciation and amortization. Depreciation and amortization are calculated over the estimated useful lives of the related assets, or in the case of leasehold improvements, the lesser of the useful lives or the remaining term of the lease. Expenditures for additions, renewals, and betterments are capitalized; expenditures for maintenance and repairs are charged to expense as incurred. Depreciation is computed on the straight-line method for financial reporting purposes.

The useful lives for the purpose of computing depreciation and amortization are as follows:

Software	3 years
Automobiles	5 years
Computer equipment	5 years
Furniture, fixtures, and equipment	7-10 years
Buildings	27.5 years
Leasehold improvements	Lesser of lease term or useful life

(j)

Goodwill/Intangible Assets

The Company amortizes intangible assets over their useful lives unless it determines such lives to be indefinite. Goodwill and intangible assets having indefinite useful lives are not amortized to earnings, but instead are subject to annual impairment testing or more frequently if events or circumstances indicate that the value of goodwill or intangible assets having indefinite useful lives might be impaired.

Goodwill and intangible assets having indefinite useful lives are tested for impairment annually in the fiscal month of October. The Company has the option to evaluate qualitative factors to determine if it is more likely than not that the carrying amount of its sole reporting unit or its nonamortizing intangible assets (consisting of a tradename) exceed their implied respective fair value and whether it is necessary to perform a quantitative analysis to determine impairment. As part of this qualitative assessment, the Company weighs the relative impact of factors that are specific to its sole reporting unit or its nonamortizing intangible assets as well as industry, regulatory and macroeconomic factors that could affect the inputs used to determine the fair value of the assets.

If management determines a quantitative goodwill impairment test is required, the test is performed by determining the fair value of the Company’s sole reporting unit. Fair value is determined utilizing a combination of valuation methods including both the income approach (using a discounted cash flow analysis) and market approaches (including prior transaction method and comparable public company multiples). The implied fair value of goodwill is determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation. The residual fair value after the allocation is the implied fair value of the reporting unit’s goodwill. An impairment loss is recognized for any excess of the carrying amount of the reporting unit’s goodwill over the implied fair value of that goodwill.

For 2017, 2016 and 2015, the Company completed a qualitative impairment test of its goodwill and determined that no impairment of goodwill existed.

If management determines a quantitative analysis of intangible assets having indefinite useful lives is required, the test is performed using the discounted cash flow method based on management’s projections to determine the fair value of the asset, specifically, the Company’s tradename. An impairment loss is recognized for any excess of the carrying amount of the asset over the implied fair value of that asset.

For 2017, 2016 and 2015, the Company completed a qualitative impairment test of its tradename and determined that no impairment of the asset existed.

Intangible assets with determinable useful lives are amortized over their estimated useful lives and reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.

(k)

Impairment of Long-Lived Assets

Long-lived assets, such as property and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques, including discounted cash flow models, quoted market values and third-party independent appraisals, as considered necessary.

(l)

Stock-Based Compensation

The Company measures the cost of employee services received in exchange for share-based compensation based on the grant date fair value of the employee stock award. For stock option awards, the Company estimates grant date fair value using the Black-Scholes option pricing model. For restricted stock unit awards, grant date fair value is determined based on the closing trading value of the Company’s stock on the date of grant. In both cases, stock-based compensation is recorded on a straight-line basis over the vesting period for the entire award.

(m)

Revenue Recognition

Ollie’s recognizes retail sales in its stores when merchandise is sold and the customer takes possession of merchandise. Net sales are presented net of returns and sales tax. The Company provides an allowance for estimated retail merchandise returns based on prior experience. The following table provides a reconciliation of the activity related to the Company’s sales returns allowance (in thousands):

	Fiscal year ended
	February 3, 2018			January 28, 2017			January 30, 2016
Beginning balance	$	339		$	247		$	247
Provisions		39,421			34,995			30,835
Sales returns		(39,421	)		(34,903	)		(30,835	)
Ending balance	$	339		$	339		$	247

(n)

Cost of Sales

Cost of sales includes merchandise costs, inventory markdowns, shrinkage and transportation, distribution and warehousing costs, including depreciation.

(o)

Selling, General and Administrative Expenses

Selling, general and administrative expenses (“SG&A”) are comprised of payroll and benefits for stores, field support and support center employees. SG&A also include marketing and advertising expense, occupancy costs for stores and the store support center, insurance, corporate infrastructure and other general expenses.

(p)

Advertising Costs

Advertising costs primarily consist of newspaper circulars, email campaigns, media broadcasts and prominent advertising at professional and collegiate sporting events and are expensed the first time the advertising occurs. Advertising expense for 2017, 2016 and 2015 was $32.4 million, $28.0 million and $25.8 million, respectively.

(q)

Operating Leases

Other than one store location, which is owned, the Company leases its store locations, distribution centers and office facilities. Many of the lease agreements contain rent holidays, rent escalation clauses and contingent rent provisions – or some combination of these items. For leases of store locations and the store support centers, the Company recognizes rent expense in SG&A. For leases of distribution centers, the Company recognizes rent expense within cost of sales. All rent expense is recorded on a straight-line basis over the accounting lease term, which includes lease renewals determined to be reasonably assured. Additionally, the commencement date of the accounting lease term reflects the earlier of the date the Company becomes legally obligated for the lease payments or the date the Company takes possession of the building for initial construction and setup. The excess rent expense over the actual cash paid for rent is accounted for as deferred rent. Leasehold improvement allowances received from landlords and other lease incentives are recorded as deferred rent liabilities and are recognized in SG&A on a straight-line basis over the accounting lease term.

(r)

Pre-Opening Costs

Pre-opening costs (costs of opening new stores and distribution facilities, including grand opening promotions, payroll, travel, training, and store setup costs, as well as store closing costs) are expensed as incurred.

(s)

Debt Issuance Costs and Original Issue Discount

Debt issuance costs and original issue discount are amortized to interest expense using the effective interest method over the life of the related debt. As of February 3, 2018 and January 28, 2017, debt issuance costs, net of accumulated amortization, were $1.5 million and $2.8 million, respectively, and original issue discount, net of accumulated amortization, was $15,000 and $0.1 million, respectively. The amortization expense for debt issuance costs was $0.6 million, $0.7 million and $1.3 million and the amortization expense for the original issue discount was $17,000, $25,000 and $0.4 million for 2017, 2016 and 2015, respectively. The write-off of unamortized debt issuance and original issue discount costs recorded in loss on extinguishment of debt on the consolidated statements of income totaled $0.8 million, $0.0 million and $6.7 million for 2017, 2016 and 2015, respectively.

(t)

Self‑Insurance Liabilities

Under a number of the Company's insurance programs, which include the Company's employee health insurance program, its workers' compensation and general liability insurance programs, the Company is liable for a portion of its losses. The Company estimates the accrued liabilities for its self-insurance programs using historical claims experience and loss reserves. To limit the Company’s exposure to losses, a stop‑loss coverage is maintained through third‑party insurers.

(u)

Income Taxes

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating losses and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized.

Ollie’s files consolidated federal and state income tax returns. For tax years prior to 2014, the Company is no longer subject to U.S. federal income tax examinations. State income tax returns are filed in various state tax jurisdictions, as appropriate, with varying statutes of limitation and remain subject to examination for varying periods up to three to four years depending on the state.

(v)

Earnings per Common Share

Basic earnings per common share is computed by dividing net income by the weighted average number of common shares outstanding. Diluted earnings per common share is computed by dividing net income by the weighted average number of common shares outstanding, after giving effect to the potential dilution, if applicable, from the assumed exercise of stock options into shares of common stock as if those stock options were exercised and the assumed lapse of restrictions on restricted stock units.

The following table summarizes those effects for the diluted earnings per common share calculation (in thousands, except per share amounts):

	Fiscal year ended
	February 3, 2018		January 28, 2017		January 30, 2016
Net income	$	127,594	$	59,764	$	35,839

Weighted average number of common shares outstanding – Basic		61,353		60,160		53,835
Incremental shares from the assumed exercise of outstanding stock options and vesting of restricted stock units		3,597		2,255		1,961
Weighted average number of common shares outstanding – Diluted		64,950		62,415		55,796
Earnings per common share – Basic	$	2.08	$	0.99	$	0.67
Earnings per common share – Diluted	$	1.96	$	0.96	$	0.64

The effect of the weighted average assumed exercise of stock options outstanding totaling 126,899, 81,616 and 651,400 as of February 3, 2018, January 28, 2017 and January 30, 2016, respectively, were excluded from the calculation of diluted weighted average common shares outstanding because the effect would have been antidilutive.

The effect of weighted average non-vested restricted stock units outstanding totaling 10,169, 0 and 0 as of February 3, 2018, January 28, 2017 and January 30, 2016, respectively, were excluded from the calculation of diluted weighted average common shares outstanding because the effect would have been antidilutive.

(w)

Recent Accounting Pronouncements

Revenue

In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers.

In preparation for adoption of ASU 2014-09, the Company evaluated applicable revenue streams and compared current accounting practices to those required under the new standard. As a result of these efforts, the Company has identified certain impacts to the presentation and timing of revenue recognition of sales attributed to the Company’s customer loyalty program and gift card breakage. In addition, the new standard requires a change in the presentation of the Company’s sales return reserve on its balance sheet, which is currently recorded on a net basis. The new guidance requires the reserve to be established at the gross sales value with an asset established for the value of the merchandise returned. The Company has implemented appropriate changes to its business processes, systems and controls to support recognition and disclosure under ASU 2014-09.

The Company adopted ASU 2014-09 as of February 4, 2018, using the modified retrospective transition method and recognizing the cumulative effect of initially applying the new standard as a decrease of $5.6 million to the opening balance of retained earnings. Prior periods will not be retrospectively adjusted.

Leases

In February 2016, the FASB issued ASU 2016-02, Leases. ASU 2016-02 requires that lease arrangements longer than 12 months result in an entity recognizing a right-of-use asset and lease liability. The updated guidance is effective for interim and annual periods beginning after December 15, 2018, and early adoption is permitted. Substantially all of the Company’s store locations and distribution centers are subject to operating lease arrangements. Information under existing lease guidance with respect to rent required under non-cancelable operating leases, including option renewal periods that are reasonably assured, that have an initial or remaining lease term in excess of one year is included in Note 7. The Company is currently evaluating the impact of the adoption of this new standard on its consolidated financial statements and related disclosures, and anticipates it will result in significant right-of-use assets and related liabilities on its consolidated balance sheets.

Stock Compensation

In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting, which was intended to simplify the accounting for share-based payment award transactions. The update modified several aspects of the accounting and reporting for employee share-based awards, including excess tax benefits and deficiencies; forfeitures; tax withholding requirements and cash flow classification. The Company adopted the new standard during the first quarter of 2017 and has elected to continue with the use of no forfeiture rate estimate in the determination of compensation expense for stock-based compensation awards. Excess tax benefits or deficiencies, historically recorded to additional paid-in capital, are now recorded to income tax expense. See Note 6, “Income Taxes.” In addition, the Company is now presenting the excess tax benefit on stock options exercised and restricted stock awards vested in cash flows from operating activities as opposed to the historical presentation in cash flows from financing activities. Lastly, the update revised the diluted earnings per share calculation to exclude the excess tax benefit which was previously included in the assumed proceeds for share buybacks under the treasury stock method.

Property and Equipment

12 Months Ended

Feb. 03, 2018

Property and Equipment [Abstract]

Property and Equipment

(2)	Property and Equipment

Property and equipment consists of the following (in thousands):

	February 3, 2018			January 28, 2017
Land	$	2,103		$	1,601
Building		1,255			1,225
Furniture, fixtures, and equipment		87,800			71,621
Leasehold improvements		11,829			8,641
Automobiles		1,977			1,638
		104,964			84,726
Less: Accumulated depreciation and amortization		(50,076	)		(38,393	)
	$	54,888		$	46,333

Depreciation and amortization expense of property and equipment was $11.9 million, $10.3 million and $8.9 million for 2017, 2016 and 2015, respectively, of which $9.8 million, $8.4 million and $7.2 million is included in the depreciation and amortization expenses for 2017, 2016 and 2015, respectively, on the consolidated statements of income. The remainder, as it relates to the Company’s distribution centers, is included within cost of sales on the consolidated statements of income.

Goodwill and Other Intangible Assets

12 Months Ended

Feb. 03, 2018

Goodwill and Other Intangible Assets [Abstract]

Goodwill and Other Intangible Assets

(3)	Goodwill and Other Intangible Assets

Goodwill and other intangible assets consist of the following (in thousands):

	February 3, 2018			January 28, 2017
Non-amortizing intangible assets:
Goodwill	$	444,850		$	444,850
Tradename		230,559			230,559
Amortizing intangible assets:
Favorable leases		3,905			4,054
Accumulated amortization:
Favorable leases		(1,825	)		(1,636	)
	$	677,489		$	677,827

Amortization expense for 2017, 2016 and 2015 was $0.3 million, $0.4 million and $0.4 million, which was charged to rent expense. Estimated amortization expense of favorable leases during the next five fiscal years and thereafter is shown below (in thousands):

Fiscal year ending:
February 2, 2019	$	335
February 1, 2020		310
January 30, 2021		281
January 29, 2022		237
January 28, 2023		226
Thereafter		691
Total remaining amortization	$	2,080

Favorable lease intangible assets are being amortized on a straight-line basis over their respective lease terms plus assumed option renewal periods (weighted average remaining life of approximately 7.9 and 8.7 years as of February 3, 2018 and January 28, 2017, respectively).

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Accrued Expenses

12 Months Ended

Feb. 03, 2018

Accrued Expenses [Abstract]

Accrued Expenses

(4)	Accrued Expenses

Accrued expenses consist of the following (in thousands):

	February 3, 2018		January 28, 2017
Compensation and benefits	$	14,181	$	12,136
Advertising		5,523		5,594
Real estate related		4,019		3,464
Sales and use taxes		3,865		2,564
Freight		3,836		5,429
Insurance		2,768		3,418
Other		12,135		12,143
	$	46,327	$	44,748

Debt Obligations and Financing Arrangements

12 Months Ended

Feb. 03, 2018

Debt Obligations and Financing Arrangements [Abstract]

Debt Obligations and Financing Arrangements

(5)	Debt Obligations and Financing Arrangements

Long-term debt consists of the following (in thousands):

	February 3, 2018			January 28, 2017
Term loan	$	48,530		$	193,740
Capital lease		463			260
Total debt		48,993			194,000
Less: Current portion		(10,158	)		(5,077	)
Long-term debt	$	38,835		$	188,923

As of February 3, 2018, the scheduled principal payments of debt are as follows (in thousands):

Fiscal year ending:
February 2, 2019	$	10,158
February 1, 2020		10,169
January 30, 2021		28,886
Total cash principal payments		49,213
Less: Unamortized original issue discount		(15	)
Less: Unamortized term loan deferred financing fees		(205	)
Total cash principal payments, net	$	48,993

On May 27, 2015, the Company amended the credit agreements governing its $335.0 million term loan (“Term Loan”) and $75.0 million revolving credit facility (“Revolving Credit Facility” and collectively, the “Senior Secured Credit Facilities”) to, among other things, increase the size of the Revolving Credit Facility to $125.0 million and to permit a dividend to holders of the Company’s outstanding common stock. On May 27, 2015, the Company borrowed $50.0 million under the Revolving Credit Facility and the proceeds were used to pay an aggregate cash dividend of $48.8 million to holders of outstanding common stock. The total dividend amount was recorded as a reduction of retained earnings of $33.9 million to reduce the retained earnings balance as of the dividend date to zero and the additional $14.9 million was recorded as a reduction of additional paid-in capital.

In July 2015, the Company repaid $50.0 million on the Revolving Credit Facility and $103.1 million of principal on the Term Loan using proceeds from its initial public offering (“IPO”). In connection with this repayment of debt, $1.5 million of debt issuance costs and $0.8 million of original issue discount were written off and included in loss on extinguishment of debt.

On January 29, 2016, the Company completed a transaction in which it refinanced the Senior Secured Credit Facilities with the proceeds from a new credit facility (“New Credit Facilities”). The New Credit Facilities consist of the $200.0 million term loan (“New Term Loan Facility”) and the $100.0 million new revolving credit facility (“New Revolving Credit Facility”), which includes a $25.0 million sub-facility for letters of credit and a $25.0 million sub-facility for swingline loans. The proceeds of the New Term Loan Facility together with cash on hand were used to repay the existing Senior Secured Credit Facilities. The Company incurred various arrangement fees and legal fees totaling $2.1 million, of which $2.0 million was recognized as deferred financing fees and $0.1 million was recognized as SG&A. In connection with the termination of the Senior Secured Credit Facilities, $2.9 million of debt issuance cost and $1.4 million of original issue discount were accelerated on the date of the amendment and included in loss on extinguishment of debt. Loans under the New Credit Facilities mature on January 29, 2021.

The interest rates for the New Credit Facilities are not subject to a floor and are calculated as the higher of the Prime Rate, the Federal Funds Effective Rate plus 0.50% or the Eurodollar Rate plus 1.0%, plus the Applicable Margin, or, for Eurodollar Loans, the Eurodollar Rate plus the Applicable Margin. The Applicable Margin will vary from 0.75% to 1.25% for a Base Rate Loan and 1.75% to 2.25% for a Eurodollar Loan, based on reference to the total leverage ratio (total debt to adjusted EBITDA, as defined in the agreement). As of February 3, 2018, the interest rate on the outstanding borrowings under the New Term Loan Facility was 1.75% plus the 30-day Eurodollar Rate, or 3.32%.

Through February 3, 2018, the New Term Loan Facility was subject to amortization with principal payable in quarterly installments of $1.25 million. As of February 4, 2018, the quarterly installment payments increased to $2.50 million, with said payments to be made on the last business day of each fiscal quarter prior to maturity. The remaining initial aggregate advances under the New Term Loan Facility are payable at maturity.

The Company made voluntary prepayments under the Term Loan Facility totaling $146.3 million during 2017. In connection with these prepayments, $0.7 million of debt issuance cost and $0.1 million of original issue discount were accelerated and included in loss on extinguishment of debt for 2017. In accordance with the terms of the Term Loan Facility, prepayments were applied against the remaining scheduled installment payments of principal due under the Term Loan Facility in direct order of maturity. As a result, the Company is no longer obligated to make the scheduled installment payments of principal; however, the Company currently intends to continue to make these payments and therefore has classified such payments as current portion of long-term debt in the consolidated balance sheet.

As of February 3, 2018 and January 28, 2017, the amounts outstanding under the New Term Loan Facility are net of unamortized original issue discount of $15,000 and $0.1 million and deferred financing fees of $0.2 million and $1.2 million, respectively.

Under the terms of the New Revolving Credit Facility, as of February 3, 2018, the Company could borrow up to 90.0% of the most recent appraised value (valued at cost, discounted for the current net orderly liquidation value) of its eligible inventory, as defined, up to $100.0 million.

As of February 3, 2018, Ollie’s had $48.8 million of outstanding borrowings on the New Term Loan Facility and no outstanding borrowings under the New Revolving Credit Facility, with $96.0 million of borrowing availability, letter of credit commitments of $3.7 million and $0.3 million of rent reserves. The New Revolving Credit Facility also contains a variable unused line fee ranging from 0.250% to 0.375% per annum. The Company incurred unused line fees of $0.3 million, $0.3 million and $0.4 million for 2017, 2016 and 2015, respectively.

The New Credit Facilities are collateralized by the Company’s assets and equity and contain financial covenants, as well as certain business covenants, including restrictions on dividend payments, which the Company must comply with during the term of the agreements. The financial covenants include a consolidated fixed charge coverage ratio test of at least 1.1 to 1.0 and total leverage ratio test of 3.50 to 1.0. The Company was in compliance with all terms of the New Credit Facilities during and as of the fiscal year ended February 3, 2018.

The provisions of the New Credit Facilities restrict all of the net assets of the Company’s consolidated subsidiaries, which constitutes all of the net assets on the Company’s consolidated balance sheet as of February 3, 2018, from being used to pay any dividends or make other restricted payments to the Company without prior written consent from the financial institutions party to the Company’s New Credit Facilities, subject to certain exceptions.

Income Taxes

12 Months Ended

Feb. 03, 2018

Income Taxes [Abstract]

Income Taxes

(6)	Income Taxes

On December 22, 2017, new U.S. federal tax legislation, the Tax Cuts and Jobs Act (the “2017 Tax Act”) was enacted. The new legislation was a significant modification of existing U.S. federal tax law and contained a number of provisions which impacted the tax position of the Company in 2017 and will impact the Company’s tax position in future years. Among other things, the 2017 Tax Act permanently lowered the federal corporate tax rate to 21% from the existing maximum rate of 35%, effective for tax years including or commencing January 1, 2018. As a result of the 2017 Tax Act, the Company recorded a tax benefit of $30.9 million due to the net impact of the revaluation of net deferred tax liability balances.

The components of income tax provision (benefit) are as follows (in thousands):

	Fiscal year ended
	February 3, 2018			January 28, 2017		January 30, 2016
Current:
Federal	$	27,817		$	29,280	$	19,625
State		5,399			5,348		3,713
		33,216			34,628		23,338
Deferred:
Federal		(29,851	)		1,829		(849	)
State		(472	)		38		(882	)
		(30,323	)		1,867		(1,731	)
Income tax expense	$	2,893		$	36,495	$	21,607

A reconciliation of the statutory federal income tax rate to the Company’s effective income tax rate is as follows:

	Fiscal year ended
	February 3, 2018			January 28, 2017			January 30, 2016
Statutory federal rate		33.7	%		35.0	%		35.0	%
State taxes, net of federal benefit		2.5			3.6			3.2
Impact from 2017 Tax Act		(23.7	)		-			-
Excess tax benefits related to stock-based compensation		(9.9	)		-			-
Other		(0.4	)		(0.7	)		(0.6	)
		2.2	%		37.9	%		37.6	%

Deferred income taxes reflect the effect of temporary differences between the carrying amounts of the assets and liabilities for financial reporting purposes and the carrying amounts used for income tax reporting purposes. Significant components of deferred tax assets and liabilities are as follows (in thousands):

	February 3, 2018			January 28, 2017
Deferred tax assets:
Inventory reserves	$	990		$	1,378
Deferred rent		2,034			2,343
Stock-based compensation		3,722			4,783
Other		1,539			2,048
Total deferred tax assets		8,285			10,552
Deferred tax liabilities:
Tradename		(58,954	)		(89,520	)
Depreciation		(7,408	)		(9,345	)
Prepaid expenses		(466	)		-
Leases		(530	)		(911	)
Total deferred tax liabilities		(67,358	)		(99,776	)
Net deferred tax liabilities	$	(59,073	)	$	(89,224	)

In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent on the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities (including the impact of available carryback and carryforward periods), projected future taxable income and tax-planning strategies in making this assessment. Based on the level of historical taxable income and projections for future taxable income and the scheduled reversal of deferred liabilities over the periods in which the deferred tax assets are deductible, management believes it is more likely than not that the Company will realize the benefits of these deductible differences as of February 3, 2018 and January 28, 2017.

Ollie’s has no material accrual for uncertain tax positions or interest or penalties related to income taxes on the Company’s consolidated balance sheets as of February 3, 2018 or January 28, 2017, and has not recognized any material uncertain tax positions or interest or penalties related to income taxes in the consolidated statements of income for 2017, 2016 or 2015.

Commitments and Contingencies

12 Months Ended

Feb. 03, 2018

Commitments and Contingencies [Abstract]

Commitments and Contingencies

(7)	Commitments and Contingencies

Other than one store location, which is owned, Ollie’s leases its stores, offices, and distribution facilities under operating leases that expire at various dates through 2031. These leases generally provide for fixed annual rentals; however, several provide for minimum annual rentals plus contingent rentals based on a percentage of annual sales. A majority of the Company’s leases also require a payment for all or a portion of insurance, real estate taxes, water and sewer costs and repairs, the cost of which is charged to the related expense category rather than being accounted for as rent expense. Most of the leases contain multiple renewal options, under which Ollie’s may extend the lease terms for five years. Minimum rents on operating leases, including agreements with step rents, are charged to expense on a straight-line basis over the lease term.

Rent expense on all operating leases consisted of the following (in thousands):

	Fiscal year ended
	February 3, 2018		January 28, 2017		January 30, 2016
Minimum annual rentals	$	43,791	$	36,970	$	32,263
Contingent rentals		67		110		123
	$	43,858	$	37,080	$	32,386

The following is a schedule by year of future minimum rental payments required under non-cancelable operating leases, including option renewal periods that are reasonably assured, that have initial or remaining lease terms in excess of one year as of February 3, 2018 (in thousands):

Fiscal year ending:
February 2, 2019	$	52,660
February 1, 2020		49,196
January 30, 2021		43,510
January 29, 2022		36,412
January 28, 2023		30,107
Thereafter		61,848
Total minimum lease payments	$	273,733

Ollie’s is subject to litigation in the normal course of business. The Company does not believe such actions, either individually or collectively, will have a significant impact on Ollie’s financial position or results of operations.

Equity Incentive Plan

12 Months Ended

Feb. 03, 2018

Equity Incentive Plan [Abstract]

Equity Incentive Plan

(8)	Equity Incentive Plan

During 2012, Ollie’s established an equity incentive plan (the “2012 Plan”), under which stock options were granted to executive officers and key employees as deemed appropriate under the provisions of the 2012 Plan, with an exercise price at the fair value of the underlying stock on the date of grant. The vesting period for options granted under the 2012 Plan is five years (20% ratably per year). Options granted under the 2012 Plan are subject to employment for vesting, expire 10 years from the date of grant, and are not transferable other than upon death. As of July 15, 2015, the date of the pricing of the IPO, no additional equity grants will be made under the 2012 Plan.

In connection with the IPO, the Company adopted the 2015 equity incentive plan (the “2015 Plan”), pursuant to which the Company’s Board of Directors may grant stock options, restricted shares or other awards to employees, directors and consultants. The 2015 Plan allows for the issuance of up to 5,250,000 shares. Awards will be made pursuant to agreements and may be subject to vesting and other restrictions as determined by the Board of Directors or the Compensation Committee of the Board. The Company uses authorized and unissued shares to satisfy share award exercises. As of February 3, 2018, there were 3,785,897 shares available for grant under the 2015 Plan.

Stock Options

The exercise price for stock options is determined at the fair value of the underlying stock on the date of grant. The vesting period for awards granted under the 2015 Plan is generally set at four years (25% ratably per year). Awards are subject to employment for vesting, expire 10 years from the date of grant, and are not transferable other than upon death.

A summary of the Company’s stock option activity and related information follows for 2015, 2016 and 2017 (in thousands, except share and per share amounts):

	Number of options			Weighted average exercise price		Weighted average remaining contractual term (years)	Aggregate intrinsic value
Outstanding at January 31, 2015		6,010,475		$	6.66
Granted		1,403,500			13.61
Forfeited		(82,500	)		7.91
Exercised		(339,650	)		6.69
Outstanding at January 30, 2016		6,991,825			8.04
Granted		518,277			20.37
Forfeited		(135,390	)		9.09
Exercised		(1,948,752	)		6.83
Outstanding at January 28, 2017		5,425,960			9.62
Granted		357,222			32.64
Forfeited		(93,867	)		16.06
Exercised		(1,230,928	)		8.46
Outstanding at February 3, 2018		4,458,387			11.65	6.1	$	187,681
Exercisable at February 3, 2018		2,680,590			7.83	5.1	$	123,086

The intrinsic value of stock options exercised for 2017, 2016 and 2015 was $42.7 million, $43.9 million and $5.3 million, respectively.

The weighted average grant date fair value per option for options granted during 2017, 2016 and 2015 was $10.68, $6.47 and $5.05, respectively. The fair value of each option award is estimated on the date of grant using the Black-Scholes option-pricing model that used the weighted average assumptions in the following table:

	Fiscal Year Ended
	February 3, 2018			January 28, 2017			January 30, 2016
Risk-free interest rate		2.20	%		1.72	%		1.99	%
Expected dividend yield		—			—			—
Expected life (years)	6.25 years			6.25 years			6.25 years
Expected volatility		28.29	%		28.52	%		31.56	%

The expected life of stock options is estimated using the “simplified method,” as the Company does not have enough historical information to develop reasonable expectations about future exercise patterns and post-vesting employment termination behavior for its stock option grants. The simplified method is based on the average of the vesting tranches and the contractual life of each grant. For stock price volatility, the Company uses comparable public companies as a basis for its expected volatility to calculate the fair value of option grants. The risk-free interest rate is based on U.S. Treasury notes with a term approximating the expected life of the option.

Restricted Stock Units (“RSUs”)

RSUs are issued at a value not less than the fair market value of the common stock on the date of the grant. RSUs granted to date vest ratably over one to four years or cliff vest in four years. Awards are subject to employment for vesting and are not transferable other than upon death.

A summary of the Company’s RSU activity and related information for 2016 and 2017 is as follows:

	Number of shares			Weighted average grant date fair value
Nonvested balance at January 30, 2016		—		$	-
Granted		137,458			20.36
Forfeited		(740	)		20.26
Nonvested balance at January 28, 2017		136,718			20.36
Granted		97,472			32.71
Vested		(26,665	)		20.37
Forfeited		(179	)		31.45
Nonvested balance at February 3, 2018		207,346			26.15

Stock Based Compensation Expense

The compensation cost for stock options and RSUs which has been recorded within SG&A related to the Company’s equity incentive plans was $7.4 million, $6.7 million and $5.0 million for 2017, 2016 and 2015, respectively.

As of February 3, 2018, there was $11.6 million of total unrecognized compensation cost related to non-vested stock-based compensation arrangements. That cost is expected to be recognized over a weighted average period of 2.4 years. Compensation costs related to awards are recognized using the straight-line method.

Employee Benefit Plans

12 Months Ended

Feb. 03, 2018

Employee Benefit Plans [Abstract]

Employee Benefit Plans

(9)	Employee Benefit Plans

Ollie’s sponsors a defined contribution plan (“the Plan”), qualified under Internal Revenue Code (“IRC”) Section 401(k), for the benefit of employees. An employee becomes eligible to participate in the Plan upon attaining at least 21 years of age and completing three months of full-time employment. An employee may elect to contribute annual compensation up to the maximum allowable under the IRC. The Company assumes all administrative costs of the Plan and matches the employee’s contribution up to 25% of the first 6% of their annual compensation. The portion that the Company matches is vested ratably over six years. The employer matching contributions to the Plan were $0.2 million in each of 2017, 2016 and 2015.

In addition to the regular matching contribution, the Company may elect to make a discretionary matching contribution. Discretionary contributions shall be allocated as a percentage of compensation of eligible participants for the Plan year. There were no discretionary contributions in 2017, 2016 or 2015.

Common Stock

12 Months Ended

Feb. 03, 2018

Common Stock [Abstract]

Common Stock

(10)	Common Stock

Stockholders Agreement

The Company and its shareholders had entered into a Stockholders Agreement dated September 28, 2012, which provided for, among others, certain covenants and conditions. In connection with the Company’s July 15, 2015 IPO, the Company amended the Stockholders Agreement.

Initial Public Offering

Immediately prior to the IPO, the Company amended and restated its certificate of incorporation to reflect the conversion of all Class B common stock to Class A common stock. In addition, all shares of Class A common stock were recapitalized into a single class of common stock. As part of the IPO, the Company increased its authorized common stock shares to 500,000,000 at $0.001 par value per share and authorized 50,000,000 shares of preferred stock at $0.001 par value per share.

The Company issued 8,925,000 shares of its common stock in connection with its IPO. In addition, on July 17, 2015, the underwriters of the IPO exercised their option to purchase an additional 1,338,750 shares of common stock from the Company. As a result, 10,263,750 shares of common stock were issued and sold by the Company at a price of $16.00 per share.

As a result of the IPO, the Company received net proceeds of $153.1 million, after deducting the underwriting fees of $11.1 million. The Company used the net proceeds from the IPO to pay off outstanding borrowings under the Revolving Credit Facility and a portion of the outstanding principal balance of the Term Loan. See Note 5, “Debt Obligations and Financing Arrangements.”

Secondary Offerings

On February 18, 2016, the Company completed a secondary offering for certain selling shareholders of 7,873,063 shares of common stock, of which 1,152,500 shares were sold by certain directors, officers and employees upon the exercise of stock options in connection with the offering. In addition, on February 19, 2016, the underwriters exercised their option to purchase an additional 1,180,959 shares of the Company’s common stock from certain selling stockholders. As a result, 9,054,022 shares of common stock were sold by certain selling stockholders at a price of $19.75 per share in this secondary offering. The Company did not sell any shares in or receive any proceeds from this secondary offering, except for $7.5 million of proceeds from the exercise of stock options. The Company incurred expenses of $0.6 million related to legal, accounting and other fees in connection with the secondary offering, which are included in SG&A in the consolidated statement of income for 2016.

On June 6, 2016, the Company completed a secondary offering for certain selling shareholders of 12,152,800 shares of common stock. In addition, on June 10, 2016, the underwriters exercised their option to purchase an additional 1,822,920 shares of the Company’s common stock from certain selling stockholders. As a result, 13,975,720 shares of common stock were sold by certain selling stockholders at a price of $25.00 per share in this secondary offering. The Company did not sell any shares in or receive any proceeds from this secondary offering. The Company incurred expenses of $0.6 million related to legal, accounting and other fees in connection with this secondary offering, which are included in SG&A in the consolidated statement of income for 2016.

On September 6, 2016, the Company completed a secondary offering for certain selling shareholders of 13,725,798 shares of common stock. The shares were sold by certain selling stockholders at a price of $26.07 per share in this secondary offering. The Company did not sell any shares in or receive any proceeds from this secondary offering. The Company incurred expenses of $0.6 million related to legal, accounting and other fees in connection with this secondary offering, which are included in SG&A in the consolidated statement of income for 2016.

Treasury Shares

During 2015, the Company repurchased 5,570 shares of common stock from shareholders for $9.99 per share. The Company records the value of its common stock held in treasury at cost. There were no additional shares purchased during either 2017 or 2016.

Transactions with Affiliates and Related Parties

12 Months Ended

Feb. 03, 2018

Transactions with Affiliates and Related Parties [Abstract]

Transactions with Affiliates and Related Parties

(11)	Transactions with Affiliates and Related Parties

The Company has entered into five non-cancelable operating leases with related parties for office and store locations that expire at various dates through 2023. The annual lease payments are between $0.9 million and $1.2 million for the next five years and the total remaining payments after the next five years are $1.6 million.

During 2017, 2016 and 2015, the Company paid $35,000, $0.1 million and $0.2 million, respectively, for the use of an airplane owned by a related party.

Segment Reporting

12 Months Ended

Feb. 03, 2018

Segment Reporting [Abstract]

Segment Reporting

(12)	Segment Reporting

For purposes of the disclosure requirements for segments of a business enterprise, it has been determined that the Company is comprised of one operating segment.

The following table summarizes the percentage of net sales by merchandise category for each year presented:

	Fiscal Year Ended
	February 3, 2018			January 28, 2017			January 30, 2016
Housewares		13.7	%		12.7	%		13.1	%
Food		11.9			12.7			13.2
Bed and bath		10.5			10.1			10.1
Books and stationery		10.0			10.6			11.5
Floor coverings		7.7			8.0			8.6
Electronics		6.9			6.7			5.6
Toys		5.5			5.2			4.9
Health and beauty aids		5.5			4.1			2.8
Other		28.3			29.9			30.2
		100.0	%		100.0	%		100.0	%

Quarterly Results of Operations and Seasonality (Unaudited)

12 Months Ended

Feb. 03, 2018

Quarterly Results of Operations and Seasonality (Unaudited) [Abstract]

Quarterly Results of Operations and Seasonality (Unaudited)

(13)	Quarterly Results of Operations and Seasonality (Unaudited)

The following table reflects quarterly financial results for 2017 and 2016 (in thousands, except for per share data). Each quarterly period listed below consisted of a 13-week period with the exception of the fourth quarter of 2017, which was a 14-week period. The sum of the four quarters for any given year may not equal annual totals due to rounding.

	2017								2016
	Fourth Quarter		Third Quarter		Second Quarter		First Quarter		Fourth Quarter		Third Quarter		Second Quarter		First Quarter
Net sales	$	356,669	$	238,116	$	254,645	$	227,602	$	283,355	$	201,985	$	211,256	$	193,719
Gross profit		140,497		97,989		100,226		92,935		113,392		84,190		83,814		79,015
Net income		70,054		18,862		19,712		18,966		24,420		10,461		13,135		11,748
Basic earnings per common share	$	1.13	$	0.31	$	0.32	$	0.31	$	0.40	$	0.17	$	0.22	$	0.20
Diluted earnings per common share	$	1.07	$	0.29	$	0.30	$	0.29	$	0.39	$	0.17	$	0.21	$	0.19

The fourth quarter of 2017 includes a tax benefit of $30.9 million related to recently enacted federal tax reform. See Note 6, “Income Taxes.”

The Company’s business is seasonal in nature and demand is generally the highest in the fourth fiscal quarter due to the holiday sales season. To prepare for the holiday sales season, Ollie’s must order and keep in stock more merchandise than is carried during other times of the year and generally engage in additional marketing efforts. The Company expects inventory levels, along with accounts payable and accrued expenses, to reach their highest levels in the third and fourth fiscal quarters in anticipation of increased net sales during the holiday sales season. As a result of this seasonality, and generally because of variation in consumer spending habits, the Company experiences fluctuations in net sales and working capital requirements during the year.

Schedule I - Condensed Financial Information of Registrant Ollie's Bargain Outlet Holdings, Inc. (parent company only)

12 Months Ended

Feb. 03, 2018

Schedule I - Condensed Financial Information of Registrant Ollie's Bargain Outlet Holdings, Inc. (parent company only) [Abstract]

Schedule I - Condensed Financial Information of Registrant Ollie's Bargain Outlet Holdings, Inc. (parent company only)

Schedule I - Condensed Financial Information of Registrant

Ollie's Bargain Outlet Holdings, Inc. (parent company only)

Condensed Balance Sheets

(In thousands)

	February 3, 2018			January 28, 2017
Assets
Total current assets	$	-		$	-
Long-term assets:
Investment in subsidiaries		796,462			651,261
Total assets	$	796,462		$	651,261

Liabilities and stockholders' equity
Total current liabilities	$	-		$	-
Total long-term liabilities		-			-
Total liabilities		-			-
Stockholders’ equity:
Common stock		62			61
Additional paid-in capital		583,467			565,861
Retained earnings		213,019			85,425
Treasury stock, at cost		(86	)		(86	)
Total stockholders’ equity		796,462			651,261
Total liabilities and stockholders’ equity	$	796,462		$	651,261

See accompanying notes.

Schedule I - Condensed Financial Information of Registrant

Ollie's Bargain Outlet Holdings, Inc. (parent company only)

Condensed Statements of Income

(In thousands)

	Fiscal year ended
	February 3, 2018		January 28, 2017		January 30, 2016
Net sales	$	-	$	-	$	-
Cost of sales		-		-		-
Gross profit		-		-		-
Selling, general and administrative expenses		-		-		-
Depreciation and amortization expenses		-		-		-
Pre-opening expenses		-		-		-
Operating income		-		-		-
Interest expense, net		-		-		-
Income before income taxes and equity in net income of subsidiaries		-		-		-
Income tax expense		-		-		-
Income before equity in net income of subsidiaries		-		-		-
Net income of subsidiaries		127,594		59,764		35,839
Net income	$	127,594	$	59,764	$	35,839

See accompanying notes.

Schedule I - Condensed Financial Information of Registrant

Ollie's Bargain Outlet Holdings, Inc. (parent company only)

Notes to Condensed Financial Statements

1. Basis of presentation

In the parent-company-only financial statements, Ollie’s Bargain Outlet Holdings, Inc.’s (“the Company”) investment in subsidiaries is stated at cost plus equity in undistributed earnings of subsidiaries since the date of acquisition. The parent-company-only financial statements should be read in conjunction with the Company's consolidated financial statements. A condensed statement of cash flows was not presented because Ollie’s Bargain Outlet Holdings, Inc. had no cash flow activities during 2017, 2016 or 2015.

2. Guarantees and restrictions

Ollie’s Bargain Outlet, Inc., a subsidiary of the Company, had $48.8 million outstanding under the New Term Loan Facility as of February 3, 2018. Under the terms of the New Term Loan Facility, Bargain Parent, Inc. has guaranteed the payment of all principal and interest. In the event of a default under the New Term Loan Facility, Bargain Parent, Inc. will be directly liable to the debt holders. The New Term Loan Facility matures on January 29, 2021.

As of February 3, 2018, Ollie’s Bargain Outlet, Inc. also had $96.0 million available for borrowing under the New Revolving Credit Facility. Bargain Parent, Inc. has guaranteed all obligations under the New Revolving Credit Facility. In the event of default under the New Revolving Credit Facility, Bargain Parent, Inc. will be directly liable to the debt holders. The New Revolving Credit Facility matures on January 29, 2021.

The New Credit Facilities are collateralized by the Company’s assets and equity and contain financial covenants, as well as certain business covenants, including restrictions on dividend payments, which the Company must comply with during the term of such agreements. The Company was in compliance with all terms of such agreements during and as of the fiscal year ended February 3, 2018.

The provisions of the New Credit Facilities restrict all of the net assets of the Company’s consolidated subsidiaries, which constitutes all of the net assets on the Company’s consolidated balance sheet as of February 3, 2018, from being used to pay any dividends or make other restricted payments without prior written consent from the lenders under the New Credit Facilities, subject to certain exceptions.

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References + Details

Organization and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Feb. 03, 2018

Organization and Summary of Significant Accounting Policies [Abstract]

Fiscal Year

(b)

Fiscal Year

Principles of Consolidation

(c)

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany transactions have been eliminated in consolidation.

Use of Estimates

(d)

Use of Estimates

Fair Value Disclosures

(e)

Fair Value Disclosures

Level 1 inputs are quoted prices available for identical assets and liabilities in active markets.

Level 3 inputs are less observable and reflect the Company’s assumptions.

Cash and Cash Equivalents

(f)

Cash and Cash Equivalents

Concentration of Credit Risk

(g)

Concentration of Credit Risk

Inventories

(h)

Inventories

Property and Equipment

(i)

Property and Equipment

The useful lives for the purpose of computing depreciation and amortization are as follows:

Software	3 years
Automobiles	5 years
Computer equipment	5 years
Furniture, fixtures, and equipment	7-10 years
Buildings	27.5 years
Leasehold improvements	Lesser of lease term or useful life

Goodwill/Intangible Assets

(j)

Goodwill/Intangible Assets

For 2017, 2016 and 2015, the Company completed a qualitative impairment test of its goodwill and determined that no impairment of goodwill existed.

For 2017, 2016 and 2015, the Company completed a qualitative impairment test of its tradename and determined that no impairment of the asset existed.

Impairment of Long-Lived Assets

(k)

Impairment of Long-Lived Assets

Stock-Based Compensation

(l)

Stock-Based Compensation

Revenue Recognition

(m)

Revenue Recognition

	Fiscal year ended
	February 3, 2018			January 28, 2017			January 30, 2016
Beginning balance	$	339		$	247		$	247
Provisions		39,421			34,995			30,835
Sales returns		(39,421	)		(34,903	)		(30,835	)
Ending balance	$	339		$	339		$	247

Cost of Sales

(n)

Cost of Sales

Cost of sales includes merchandise costs, inventory markdowns, shrinkage and transportation, distribution and warehousing costs, including depreciation.

Selling, General and Administrative Expenses

(o)

Selling, General and Administrative Expenses

Advertising Costs

(p)

Advertising Costs

Operating Leases

(q)

Operating Leases

Pre-Opening Costs

(r)

Pre-Opening Costs

Debt Issuance Costs and Original Issue Discount

(s)

Debt Issuance Costs and Original Issue Discount

Self-Insurance Liabilities

(t)

Self‑Insurance Liabilities

Income Taxes

(u)

Income Taxes

Earnings per Common Share

(v)

Earnings per Common Share

The following table summarizes those effects for the diluted earnings per common share calculation (in thousands, except per share amounts):

	Fiscal year ended
	February 3, 2018		January 28, 2017		January 30, 2016
Net income	$	127,594	$	59,764	$	35,839

Weighted average number of common shares outstanding – Basic		61,353		60,160		53,835
Incremental shares from the assumed exercise of outstanding stock options and vesting of restricted stock units		3,597		2,255		1,961
Weighted average number of common shares outstanding – Diluted		64,950		62,415		55,796
Earnings per common share – Basic	$	2.08	$	0.99	$	0.67
Earnings per common share – Diluted	$	1.96	$	0.96	$	0.64

Recent Accounting Pronouncements

(w)

Recent Accounting Pronouncements

Revenue

Leases

Stock Compensation

Organization and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Feb. 03, 2018

Organization and Summary of Significant Accounting Policies [Abstract]

Useful Lives of Property and Equipment

The useful lives for the purpose of computing depreciation and amortization are as follows:

Software	3 years
Automobiles	5 years
Computer equipment	5 years
Furniture, fixtures, and equipment	7-10 years
Buildings	27.5 years
Leasehold improvements	Lesser of lease term or useful life

Sales Returns Allowance

The following table provides a reconciliation of the activity related to the Company’s sales returns allowance (in thousands):

	Fiscal year ended
	February 3, 2018			January 28, 2017			January 30, 2016
Beginning balance	$	339		$	247		$	247
Provisions		39,421			34,995			30,835
Sales returns		(39,421	)		(34,903	)		(30,835	)
Ending balance	$	339		$	339		$	247

Earnings per Common Share

The following table summarizes those effects for the diluted earnings per common share calculation (in thousands, except per share amounts):

	Fiscal year ended
	February 3, 2018		January 28, 2017		January 30, 2016
Net income	$	127,594	$	59,764	$	35,839

Weighted average number of common shares outstanding – Basic		61,353		60,160		53,835
Incremental shares from the assumed exercise of outstanding stock options and vesting of restricted stock units		3,597		2,255		1,961
Weighted average number of common shares outstanding – Diluted		64,950		62,415		55,796
Earnings per common share – Basic	$	2.08	$	0.99	$	0.67
Earnings per common share – Diluted	$	1.96	$	0.96	$	0.64

Property and Equipment (Tables)

12 Months Ended

Feb. 03, 2018

Property and Equipment [Abstract]

Property and Equipment

Property and equipment consists of the following (in thousands):

	February 3, 2018			January 28, 2017
Land	$	2,103		$	1,601
Building		1,255			1,225
Furniture, fixtures, and equipment		87,800			71,621
Leasehold improvements		11,829			8,641
Automobiles		1,977			1,638
		104,964			84,726
Less: Accumulated depreciation and amortization		(50,076	)		(38,393	)
	$	54,888		$	46,333

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Feb. 03, 2018

Goodwill and Other Intangible Assets [Abstract]

Goodwill and Other Intangible Assets

Goodwill and other intangible assets consist of the following (in thousands):

	February 3, 2018			January 28, 2017
Non-amortizing intangible assets:
Goodwill	$	444,850		$	444,850
Tradename		230,559			230,559
Amortizing intangible assets:
Favorable leases		3,905			4,054
Accumulated amortization:
Favorable leases		(1,825	)		(1,636	)
	$	677,489		$	677,827

Estimated Amortization Expense of Intangible Assets

Estimated amortization expense of favorable leases during the next five fiscal years and thereafter is shown below (in thousands):

Fiscal year ending:
February 2, 2019	$	335
February 1, 2020		310
January 30, 2021		281
January 29, 2022		237
January 28, 2023		226
Thereafter		691
Total remaining amortization	$	2,080

Accrued Expenses (Tables)

12 Months Ended

Feb. 03, 2018

Accrued Expenses [Abstract]

Accrued Expenses

Accrued expenses consist of the following (in thousands):

	February 3, 2018		January 28, 2017
Compensation and benefits	$	14,181	$	12,136
Advertising		5,523		5,594
Real estate related		4,019		3,464
Sales and use taxes		3,865		2,564
Freight		3,836		5,429
Insurance		2,768		3,418
Other		12,135		12,143
	$	46,327	$	44,748

Debt Obligations and Financing Arrangements (Tables)

12 Months Ended

Feb. 03, 2018

Debt Obligations and Financing Arrangements [Abstract]

Long-term Debt

Long-term debt consists of the following (in thousands):

	February 3, 2018			January 28, 2017
Term loan	$	48,530		$	193,740
Capital lease		463			260
Total debt		48,993			194,000
Less: Current portion		(10,158	)		(5,077	)
Long-term debt	$	38,835		$	188,923

Scheduled Principal Payments of Debt

As of February 3, 2018, the scheduled principal payments of debt are as follows (in thousands):

Fiscal year ending:
February 2, 2019	$	10,158
February 1, 2020		10,169
January 30, 2021		28,886
Total cash principal payments		49,213
Less: Unamortized original issue discount		(15	)
Less: Unamortized term loan deferred financing fees		(205	)
Total cash principal payments, net	$	48,993

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21521-112644

+ Details

Income Taxes (Tables)

12 Months Ended

Feb. 03, 2018

Income Taxes [Abstract]

Components of Income Tax Provision (Benefit)

The components of income tax provision (benefit) are as follows (in thousands):

	Fiscal year ended
	February 3, 2018			January 28, 2017		January 30, 2016
Current:
Federal	$	27,817		$	29,280	$	19,625
State		5,399			5,348		3,713
		33,216			34,628		23,338
Deferred:
Federal		(29,851	)		1,829		(849	)
State		(472	)		38		(882	)
		(30,323	)		1,867		(1,731	)
Income tax expense	$	2,893		$	36,495	$	21,607

Reconciliation of Statutory to Effective Income Tax Rate

A reconciliation of the statutory federal income tax rate to the Company’s effective income tax rate is as follows:

	Fiscal year ended
	February 3, 2018			January 28, 2017			January 30, 2016
Statutory federal rate		33.7	%		35.0	%		35.0	%
State taxes, net of federal benefit		2.5			3.6			3.2
Impact from 2017 Tax Act		(23.7	)		-			-
Excess tax benefits related to stock-based compensation		(9.9	)		-			-
Other		(0.4	)		(0.7	)		(0.6	)
		2.2	%		37.9	%		37.6	%

Deferred Tax Assets and Liabilities

Significant components of deferred tax assets and liabilities are as follows (in thousands):

	February 3, 2018			January 28, 2017
Deferred tax assets:
Inventory reserves	$	990		$	1,378
Deferred rent		2,034			2,343
Stock-based compensation		3,722			4,783
Other		1,539			2,048
Total deferred tax assets		8,285			10,552
Deferred tax liabilities:
Tradename		(58,954	)		(89,520	)
Depreciation		(7,408	)		(9,345	)
Prepaid expenses		(466	)		-
Leases		(530	)		(911	)
Total deferred tax liabilities		(67,358	)		(99,776	)
Net deferred tax liabilities	$	(59,073	)	$	(89,224	)

Commitments and Contingencies (Tables)

12 Months Ended

Feb. 03, 2018

Commitments and Contingencies [Abstract]

Rent Expense on Operating Leases

Rent expense on all operating leases consisted of the following (in thousands):

	Fiscal year ended
	February 3, 2018		January 28, 2017		January 30, 2016
Minimum annual rentals	$	43,791	$	36,970	$	32,263
Contingent rentals		67		110		123
	$	43,858	$	37,080	$	32,386

Future Minimum Rental Payments Required under Non-cancelable Operating Leases

Fiscal year ending:
February 2, 2019	$	52,660
February 1, 2020		49,196
January 30, 2021		43,510
January 29, 2022		36,412
January 28, 2023		30,107
Thereafter		61,848
Total minimum lease payments	$	273,733

Equity Incentive Plan (Tables)

12 Months Ended

Feb. 03, 2018

Equity Incentive Plan [Abstract]

Stock Option Activity

A summary of the Company’s stock option activity and related information follows for 2015, 2016 and 2017 (in thousands, except share and per share amounts):

	Number of options			Weighted average exercise price		Weighted average remaining contractual term (years)	Aggregate intrinsic value
Outstanding at January 31, 2015		6,010,475		$	6.66
Granted		1,403,500			13.61
Forfeited		(82,500	)		7.91
Exercised		(339,650	)		6.69
Outstanding at January 30, 2016		6,991,825			8.04
Granted		518,277			20.37
Forfeited		(135,390	)		9.09
Exercised		(1,948,752	)		6.83
Outstanding at January 28, 2017		5,425,960			9.62
Granted		357,222			32.64
Forfeited		(93,867	)		16.06
Exercised		(1,230,928	)		8.46
Outstanding at February 3, 2018		4,458,387			11.65	6.1	$	187,681
Exercisable at February 3, 2018		2,680,590			7.83	5.1	$	123,086

Weighted Average Assumptions

The fair value of each option award is estimated on the date of grant using the Black-Scholes option-pricing model that used the weighted average assumptions in the following table:

	Fiscal Year Ended
	February 3, 2018			January 28, 2017			January 30, 2016
Risk-free interest rate		2.20	%		1.72	%		1.99	%
Expected dividend yield		—			—			—
Expected life (years)	6.25 years			6.25 years			6.25 years
Expected volatility		28.29	%		28.52	%		31.56	%

RSU Activity

A summary of the Company’s RSU activity and related information for 2016 and 2017 is as follows:

	Number of shares			Weighted average grant date fair value
Nonvested balance at January 30, 2016		—		$	-
Granted		137,458			20.36
Forfeited		(740	)		20.26
Nonvested balance at January 28, 2017		136,718			20.36
Granted		97,472			32.71
Vested		(26,665	)		20.37
Forfeited		(179	)		31.45
Nonvested balance at February 3, 2018		207,346			26.15

Segment Reporting (Tables)

12 Months Ended

Feb. 03, 2018

Segment Reporting [Abstract]

Percentage of Net Sales by Merchandise Category

The following table summarizes the percentage of net sales by merchandise category for each year presented:

	Fiscal Year Ended
	February 3, 2018			January 28, 2017			January 30, 2016
Housewares		13.7	%		12.7	%		13.1	%
Food		11.9			12.7			13.2
Bed and bath		10.5			10.1			10.1
Books and stationery		10.0			10.6			11.5
Floor coverings		7.7			8.0			8.6
Electronics		6.9			6.7			5.6
Toys		5.5			5.2			4.9
Health and beauty aids		5.5			4.1			2.8
Other		28.3			29.9			30.2
		100.0	%		100.0	%		100.0	%

Quarterly Results of Operations and Seasonality (Unaudited) (Tables)

12 Months Ended

Feb. 03, 2018

Quarterly Results of Operations and Seasonality (Unaudited) [Abstract]

Quarterly Results of Operations

	2017								2016
	Fourth Quarter		Third Quarter		Second Quarter		First Quarter		Fourth Quarter		Third Quarter		Second Quarter		First Quarter
Net sales	$	356,669	$	238,116	$	254,645	$	227,602	$	283,355	$	201,985	$	211,256	$	193,719
Gross profit		140,497		97,989		100,226		92,935		113,392		84,190		83,814		79,015
Net income		70,054		18,862		19,712		18,966		24,420		10,461		13,135		11,748
Basic earnings per common share	$	1.13	$	0.31	$	0.32	$	0.31	$	0.40	$	0.17	$	0.22	$	0.20
Diluted earnings per common share	$	1.07	$	0.29	$	0.30	$	0.29	$	0.39	$	0.17	$	0.21	$	0.19

Organization and Summary of Significant Accounting Policies, Description of Business (Details)	Feb. 03, 2018 Location State
Organization and Summary of Significant Accounting Policies [Abstract]
Number of retail locations \| Location	268
Number of states in which retail locations are located \| State	20

Organization and Summary of Significant Accounting Policies, Property and Equipment (Details)	12 Months Ended
	Feb. 03, 2018
Software [Member]
Property and Equipment [Abstract]
Useful life	3 years
Automobiles [Member]
Property and Equipment [Abstract]
Useful life	5 years
Computer Equipment [Member]
Property and Equipment [Abstract]
Useful life	5 years
Furniture, Fixtures, and Equipment [Member] \| Minimum [Member]
Property and Equipment [Abstract]
Useful life	7 years
Furniture, Fixtures, and Equipment [Member] \| Maximum [Member]
Property and Equipment [Abstract]
Useful life	10 years
Buildings [Member]
Property and Equipment [Abstract]
Useful life	27 years 6 months
Leasehold Improvements [Member]
Property and Equipment [Abstract]
Useful life	Lesser of lease term or useful life

Organization and Summary of Significant Accounting Policies, Goodwill/Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Goodwill [Abstract]
Impairment of goodwill	$ 0	$ 0	$ 0
Tradename [Member]
Intangible Assets [Abstract]
Impairment of intangible assets	$ 0	$ 0	$ 0

Organization and Summary of Significant Accounting Policies, Revenue Recognition (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Revenue Recognition [Abstract]
Beginning balance	$ 339	$ 247	$ 247
Provisions	39,421	34,995	30,835
Sales returns	(39,421)	(34,903)	(30,835)
Ending balance	$ 339	$ 339	$ 247

Organization and Summary of Significant Accounting Policies, Advertising Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Advertising Costs [Abstract]
Advertising expense	$ 32.4	$ 28.0	$ 25.8

Organization and Summary of Significant Accounting Policies, Operating Leases (Details)	Feb. 03, 2018 Store
Operating Leases [Abstract]
Number of store locations that are owned	1

Organization and Summary of Significant Accounting Policies, Debt Issuance Costs and Original Issue Discount (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Debt Issuance Costs and Original Issue Discount [Abstract]
Debt issuance costs, net of accumulated amortization	$ 1,500	$ 2,800
Original issue discount, net of accumulated amortization	15	100
Amortization of debt issuance costs	640	746	$ 1,273
Amortization of original issue discount	17	25	436
Loss on extinguishment of debt	$ 798	$ 0	$ 6,710

Organization and Summary of Significant Accounting Policies, Income Taxes (Details) - State [Member]	12 Months Ended
	Feb. 03, 2018
Minimum [Member]
Income Taxes [Abstract]
Statute of limitation for tax returns	3 years
Maximum [Member]
Income Taxes [Abstract]
Statute of limitation for tax returns	4 years

Organization and Summary of Significant Accounting Policies, Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Feb. 03, 2018	Oct. 28, 2017	Jul. 29, 2017	Apr. 29, 2017	Jan. 28, 2017	Oct. 29, 2016	Jul. 30, 2016	Apr. 30, 2016	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Earnings Per Common Share [Abstract]
Net income	$ 70,054	$ 18,862	$ 19,712	$ 18,966	$ 24,420	$ 10,461	$ 13,135	$ 11,748	$ 127,594	$ 59,764	$ 35,839
Weighted average number of common shares outstanding - Basic (in shares)									61,353,000	60,160,000	53,835,000
Incremental shares from the assumed exercise of outstanding stock options and vesting of restricted stock units (in shares)									3,597,000	2,255,000	1,961,000
Weighted average number of common shares outstanding - Diluted (in shares)									64,950,000	62,415,000	55,796,000
Earnings per common share - Basic (in dollars per share)	$ 1.13	$ 0.31	$ 0.32	$ 0.31	$ 0.40	$ 0.17	$ 0.22	$ 0.20	$ 2.08	$ 0.99	$ 0.67
Earnings per common share - Diluted (in dollars per share)	$ 1.07	$ 0.29	$ 0.30	$ 0.29	$ 0.39	$ 0.17	$ 0.21	$ 0.19	$ 1.96	$ 0.96	$ 0.64
Stock Options [Member]
Earnings per Common Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)									126,899	81,616	651,400
Restricted Stock Units [Member]
Earnings per Common Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)									10,169	0	0

Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Property and Equipment [Abstract]
Property and equipment	$ 104,964	$ 84,726
Less: Accumulated depreciation and amortization	(50,076)	(38,393)
Property and equipment, net	54,888	46,333
Depreciation and amortization of property and equipment	11,923	10,291	$ 8,913
Depreciation and amortization expenses	9,817	8,443	$ 7,172
Land [Member]
Property and Equipment [Abstract]
Property and equipment	2,103	1,601
Building [Member]
Property and Equipment [Abstract]
Property and equipment	1,255	1,225
Furniture, Fixtures, and Equipment [Member]
Property and Equipment [Abstract]
Property and equipment	87,800	71,621
Leasehold Improvements [Member]
Property and Equipment [Abstract]
Property and equipment	11,829	8,641
Automobiles [Member]
Property and Equipment [Abstract]
Property and equipment	$ 1,977	$ 1,638

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Goodwill and Other Intangible Assets [Abstract]
Goodwill	$ 444,850	$ 444,850
Goodwill and other intangible assets, net	677,489	677,827
Goodwill and Other Intangible Assets [Abstract]
Accumulated amortization	(1,825)	(1,636)
Amortization of intangibles	338	377	$ 428
Tradename [Member]
Goodwill and Other Intangible Assets [Abstract]
Non-amortizing intangible asset	230,559	230,559
Favorable Leases [Member]
Goodwill and Other Intangible Assets [Abstract]
Amortizing intangible assets	3,905	4,054
Accumulated amortization	(1,825)	(1,636)
Amortization of intangibles	338	$ 377	$ 428
Estimated Amortization Expense of Intangible Assets [Abstract]
February 2, 2019	335
February 1, 2020	310
January 30, 2021	281
January 29, 2022	237
January 28, 2023	226
Thereafter	691
Total remaining amortization	$ 2,080
Weighted average remaining life	7 years 10 months 24 days	8 years 8 months 12 days

Accrued Expenses (Details) - USD ($) $ in Thousands	Feb. 03, 2018	Jan. 28, 2017
Accrued Expenses [Abstract]
Compensation and benefits	$ 14,181	$ 12,136
Advertising	5,523	5,594
Real estate related	4,019	3,464
Sales and use taxes	3,865	2,564
Freight	3,836	5,429
Insurance	2,768	3,418
Other	12,135	12,143
Total accrued expenses	$ 46,327	$ 44,748

Debt Obligations and Financing Arrangements, Long-term Debt (Details) - USD ($) $ in Thousands	Feb. 03, 2018	Jan. 28, 2017
Debt Obligations and Financing Arrangements [Abstract]
Term loan	$ 48,530	$ 193,740
Capital lease	463	260
Total debt	48,993	194,000
Less: Current portion	(10,158)	(5,077)
Long-term debt	$ 38,835	$ 188,923

Debt Obligations and Financing Arrangements, Scheduled Principal Payments of Debt (Details) - USD ($) $ in Thousands	Feb. 03, 2018	Jan. 28, 2017
Fiscal Year Ending [Abstract]
February 2, 2019	$ 10,158
February 1, 2020	10,169
January 30, 2021	28,886
Total cash principal payments	49,213
Less: Unamortized original issue discount	(15)	$ (100)
Less: Unamortized term loan deferred financing fees	(1,500)	(2,800)
Total debt	48,993	194,000
New Term Loan Facility [Member]
Fiscal Year Ending [Abstract]
Less: Unamortized original issue discount	(15)	(100)
Less: Unamortized term loan deferred financing fees	$ (205)	$ (1,200)

Debt Obligations and Financing Arrangements, Senior Secured Credit Facilities - (Details) - USD ($) $ in Thousands			1 Months Ended	12 Months Ended
	Jan. 29, 2016	May 27, 2015	Jul. 31, 2015	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016	May 26, 2015
Debt Obligations and Financing Arrangements [Abstract]
Borrowings on revolving credit facility				$ 1,142,888	$ 946,683	$ 858,053
Cash dividend to common shareholders		$ 48,800				48,848
Retained earnings		0		213,019	85,425
Repayments on revolving credit facility				1,142,888	$ 946,683	858,053
Retained Earnings [Member]
Debt Obligations and Financing Arrangements [Abstract]
Cash dividend to common shareholders		33,900				33,916
Additional Paid-in Capital [Member]
Debt Obligations and Financing Arrangements [Abstract]
Cash dividend to common shareholders		14,900				$ 14,932
Senior Secured Credit Facilities [Member]
Debt Obligations and Financing Arrangements [Abstract]
Debt issuance costs written off	$ 2,900		$ 1,500
Original issue discount written off	$ 1,400		800
Term Loan [Member]
Debt Obligations and Financing Arrangements [Abstract]
Face amount		335,000
Repayments on term loan			103,100
Debt issuance costs written off				700
Original issue discount written off				$ 100
Revolving Credit Facility [Member]
Debt Obligations and Financing Arrangements [Abstract]
Maximum borrowing capacity		125,000					$ 75,000
Borrowings on revolving credit facility		$ 50,000
Repayments on revolving credit facility			$ 50,000

Debt Obligations and Financing Arrangements, New Credit Facilities (Details) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
	Jan. 29, 2016	Jul. 31, 2015	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016	May 27, 2015
Debt Obligations and Financing Arrangements [Abstract]
Financing fees incurred			$ 0	$ 0	$ 3,368
Unamortized original issue discount			15	100
Deferred financing fees			1,500	2,800
Outstanding borrowings			48,530	193,740
Unused line fees			300	300	$ 400
Term Loan [Member]
Debt Obligations and Financing Arrangements [Abstract]
Face amount						$ 335,000
Repayment of debt			146,300
Debt issuance costs written off			700
Original issue discount written off			$ 100
New Credit Facilities [Member]
Debt Obligations and Financing Arrangements [Abstract]
Financing fees incurred	$ 2,100
Financing fees deferred	$ 2,000
Maturity date			Jan. 29, 2021
Consolidated fixed charge coverage ratio			1.1
Total leverage ratio			3.5
New Credit Facilities [Member] \| Federal Funds Effective Rate [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	0.50%
New Credit Facilities [Member] \| Eurodollar Rate [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	1.00%
New Credit Facilities [Member] \| Eurodollar Rate [Member] \| Minimum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	1.75%
New Credit Facilities [Member] \| Eurodollar Rate [Member] \| Maximum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	2.25%
New Credit Facilities [Member] \| Base Rate [Member] \| Minimum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	0.75%
New Credit Facilities [Member] \| Base Rate [Member] \| Maximum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	1.25%
New Credit Facilities [Member] \| Selling, General and Administrative Expenses [Member]
Debt Obligations and Financing Arrangements [Abstract]
Financing fees expensed	$ 100
New Term Loan Facility [Member]
Debt Obligations and Financing Arrangements [Abstract]
Face amount	200,000
Basis spread			1.75%
Interest rate on outstanding borrowings			3.32%
Unamortized original issue discount			$ 15	100
Deferred financing fees			205	$ 1,200
Outstanding borrowings			$ 48,800
New Term Loan Facility [Member] \| Commencing April 29, 2016 [Member]
Debt Obligations and Financing Arrangements [Abstract]
Frequency of principal payment			Quarterly
Principal payment			$ 1,250
New Term Loan Facility [Member] \| After Fiscal Year Ending February 3, 2018 [Member]
Debt Obligations and Financing Arrangements [Abstract]
Frequency of principal payment			Quarterly
Principal payment			$ 2,500
New Term Loan Facility [Member] \| Eurodollar Rate [Member]
Debt Obligations and Financing Arrangements [Abstract]
Term of variable rate			30 days
New Revolving Credit Facility [Member]
Debt Obligations and Financing Arrangements [Abstract]
Maximum borrowing capacity	100,000		$ 100,000
Percentage of most recent appraised value of eligible inventory			90.00%
Outstanding borrowings			$ 0
Borrowing availability			96,000
Letter of credit commitments			3,700
Rent reserves			$ 300
New Revolving Credit Facility [Member] \| Minimum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Variable unused line fee percentage			0.25%
New Revolving Credit Facility [Member] \| Maximum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Variable unused line fee percentage			0.375%
Letters of Credit [Member]
Debt Obligations and Financing Arrangements [Abstract]
Maximum borrowing capacity	25,000
Swingline Loans [Member]
Debt Obligations and Financing Arrangements [Abstract]
Maximum borrowing capacity	25,000
Senior Secured Credit Facilities [Member]
Debt Obligations and Financing Arrangements [Abstract]
Debt issuance costs written off	2,900	$ 1,500
Original issue discount written off	$ 1,400	$ 800

Income Taxes, Components of Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Feb. 03, 2018	Dec. 31, 2018	Feb. 03, 2018	Dec. 31, 2017	Jan. 28, 2017	Jan. 30, 2016
Income Taxes [Abstract]
Statutory federal rate			33.70%	35.00%	35.00%	35.00%
Income tax benefit due to revaluation of net deferred tax liabilities	$ (30,900)		$ (30,900)
Current [Abstract]
Federal			27,817		$ 29,280	$ 19,625
State			5,399		5,348	3,713
Current income tax expense (benefit)			33,216		34,628	23,338
Deferred [Abstract]
Federal			(29,851)		1,829	(849)
State			(472)		38	(882)
Deferred income tax expense (benefit)			(30,323)		1,867	(1,731)
Income tax expense			$ 2,893		$ 36,495	$ 21,607
Plan [Member]
Income Taxes [Abstract]
Statutory federal rate		21.00%

Income Taxes, Reconciliation of Statutory to Effective Income Tax Rate (Details)	12 Months Ended
	Feb. 03, 2018	Dec. 31, 2017	Jan. 28, 2017	Jan. 30, 2016
Reconciliation of Statutory to Effective Income Tax Rate [Abstract]
Statutory federal rate	33.70%	35.00%	35.00%	35.00%
State taxes, net of federal benefit	2.50%		3.60%	3.20%
Impact from 2017 Tax Act	(23.70%)		0.00%	0.00%
Excess tax benefits related to stock-based compensation	(9.90%)		0.00%	0.00%
Other	(0.40%)		(0.70%)	(0.60%)
Effective income tax rate	2.20%		37.90%	37.60%

Income Taxes, Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Deferred Tax Assets [Abstract]
Inventory reserves	$ 990	$ 1,378
Deferred rent	2,034	2,343
Stock-based compensation	3,722	4,783
Other	1,539	2,048
Total deferred tax assets	8,285	10,552
Deferred Tax Liabilities [Abstract]
Tradename	(58,954)	(89,520)
Depreciation	(7,408)	(9,345)
Prepaid expenses	(466)	0
Leases	(530)	(911)
Total deferred tax liabilities	(67,358)	(99,776)
Net deferred tax liabilities	(59,073)	(89,224)
Income Tax Uncertainties [Abstract]
Accrued uncertain tax positions	0	0
Accrued interest and penalties or uncertain tax positions	0	0
Uncertain tax positions recognized	0	0	$ 0
Interest expense and penalties on uncertain tax positions	$ 0	$ 0	$ 0

Commitments and Contingencies, Rent Expense on Operating Leases (Details) $ in Thousands	12 Months Ended
	Feb. 03, 2018 USD ($) Store	Jan. 28, 2017 USD ($)	Jan. 30, 2016 USD ($)
Commitments and Contingencies [Abstract]
Number of store locations that are owned \| Store	1
Stores, Office and Distribution Facilities [Member]
Operating Leases [Abstract]
Renewal term of leases	5 years
Rent Expense on Operating Leases [Abstract]
Minimum annual rentals	$ 43,791	$ 36,970	$ 32,263
Contingent rentals	67	110	123
Total rent expense on operating leases	$ 43,858	$ 37,080	$ 32,386

- Definition

The increases or decreases in lease payments that result from changes occurring after the inception of the lease in the factors (other than the passage of time) on which lease payments are based, except that any escalation of minimum lease payments relating to increases in construction or acquisition cost of the leased property or for increases in some measure of cost or value during the construction or preconstruction period, are excluded from contingent rentals. Contingent rentals also may include amounts for which the triggering events have not yet occurred or the specified targets for which have not yet been achieved (such as sales based percentage rent), but which events are considered probable of occurring or which specified targets are considered probable of being achieved.

+ References + Details

Commitments and Contingencies, Future Minimum Rental Payments Required under Non-cancelable Operating Leases (Details) - Stores, Office and Distribution Facilities [Member] $ in Thousands	Feb. 03, 2018 USD ($)
Future Minimum Rental Payments Required under Non-cancelable Operating Leases [Abstract]
February 2, 2019	$ 52,660
February 1, 2020	49,196
January 30, 2021	43,510
January 29, 2022	36,412
January 28, 2023	30,107
Thereafter	61,848
Total minimum lease payments	$ 273,733

Equity Incentive Plan, Equity Incentive Plan (Details)	12 Months Ended
Equity Incentive Plan, Equity Incentive Plan (Details)	Feb. 03, 2018 shares
2012 Plan [Member] \| Stock Options [Member]
Equity Incentive Plans [Abstract]
Vesting period	5 years
Vesting percentage	20.00%
Expiration period	10 years
2015 Plan [Member]
Equity Incentive Plans [Abstract]
Number of shares authorized for issuance (in shares)	5,250,000
Number of shares available for grant (in shares)	3,785,897
2015 Plan [Member] \| Stock Options [Member]
Equity Incentive Plans [Abstract]
Vesting period	4 years
Vesting percentage	25.00%
Expiration period	10 years

Equity Incentive Plan, Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Feb. 18, 2016	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Number of Options [Roll Forward]
Exercised (in shares)	(1,152,500)
Stock Options [Member]
Number of Options [Roll Forward]
Outstanding at beginning of period (in shares)		5,425,960	6,991,825	6,010,475
Granted (in shares)		357,222	518,277	1,403,500
Forfeited (in shares)		(93,867)	(135,390)	(82,500)
Exercised (in shares)		(1,230,928)	(1,948,752)	(339,650)
Outstanding at end of period (in shares)		4,458,387	5,425,960	6,991,825
Exercisable at end of period (in shares)		2,680,590
Weighted Average Exercise Price [Abstract]
Outstanding at beginning of period (in dollars per share)		$ 9.62	$ 8.04	$ 6.66
Granted (in dollars per share)		32.64	20.37	13.61
Forfeited (in dollars per share)		16.06	9.09	7.91
Exercised (in dollars per share)		8.46	6.83	6.69
Outstanding at end of period (in dollars per share)		11.65	$ 9.62	$ 8.04
Exercisable at end of period (in dollars per share)		$ 7.83
Weighted Average Remaining Contractual Term and Aggregate Intrinsic Value [Abstract]
Weighted average remaining contractual term, outstanding at end of period		6 years 1 month 6 days
Weighted average remaining contractual term, exercisable at end of period		5 years 1 month 6 days
Aggregate intrinsic value, outstanding at end of period		$ 187,681
Aggregate intrinsic value, exercisable at end of period		123,086
Intrinsic value of stock options exercised		$ 42,700	$ 43,900	$ 5,300

Equity Incentive Plan, Weighted Average Assumptions (Details) - $ / shares	12 Months Ended
	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Equity Incentive Plan [Abstract]
Weighted average grant date fair value per option granted (in dollars per share)	$ 10.68	$ 6.47	$ 5.05
Risk-free interest rate	2.20%	1.72%	1.99%
Expected dividend yield	0.00%	0.00%	0.00%
Expected life	6 years 3 months	6 years 3 months	6 years 3 months
Expected volatility	28.29%	28.52%	31.56%

Equity Incentive Plans, RSU Activity (Details) - Restricted Stock Units [Member] - $ / shares	12 Months Ended
	Feb. 03, 2018	Jan. 28, 2017
Equity Incentive Plans [Abstract]
Cliff vesting period	4 years
Number of Shares [Roll Forward]
Nonvested at beginning of period (in shares)	136,718	0
Granted (in shares)	97,472	137,458
Vested (in shares)	(26,665)
Forfeited (in shares)	(179)	(740)
Nonvested at end of period (in shares)	207,346	136,718
Weighted Average Grant Date Fair Value [Abstract]
Nonvested at beginning of period (in dollars per share)	$ 20.36	$ 0
Granted (in dollars per share)	32.71	20.36
Vested (in dollars per share)	20.37
Forfeited (in dollars per share)	31.45	20.26
Nonvested at end of period (in dollars per share)	$ 26.15	$ 20.36
Minimum [Member]
Equity Incentive Plans [Abstract]
Vesting period	1 year
Maximum [Member]
Equity Incentive Plans [Abstract]
Vesting period	4 years

Equity Incentive Plan, Stock Based Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Stock-Based Compensation Expense [Abstract]
Total unrecognized compensation cost related to non-vested stock-based compensation arrangements	$ 11.6
Weighted average period to recognize stock-based compensation expense	2 years 4 months 24 days
Selling, General and Administrative Expenses [Member]
Stock-Based Compensation Expense [Abstract]
Compensation expense	$ 7.4	$ 6.7	$ 5.0

Employee Benefit Plans (Details) - 401(k) Defined Contribution Plan [Member] - USD ($) $ in Millions	12 Months Ended
	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Employee Benefit Plans [Abstract]
Minimum age of full-time employee to participate in the Plan	21 years
Term of full-time employment for participation in the Plan	3 months
Percentage of employee's annual compensation that will be matched by employer	6.00%
Vesting period for employer matching contribution percentage	6 years
Employer matching contributions	$ 0.2	$ 0.2	$ 0.2
Employer discretionary contributions	$ 0.0	$ 0.0	$ 0.0
Maximum [Member]
Employee Benefit Plans [Abstract]
Employer matching contribution percentage	25.00%

Common Stock, Initial Public Offering (Details) - USD ($) $ / shares in Units, $ in Thousands			12 Months Ended
	Jul. 17, 2015	Jul. 15, 2015	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Common Stock [Abstract]
Common stock, shares authorized (in shares)			500,000,000	500,000,000
Common stock, par value (in dollars per share)			$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)			50,000,000	50,000,000
Preferred stock, par value (in dollars per share)			$ 0.001	$ 0.001
Shares issued (in shares)	10,263,750
Share price (in dollars per share)	$ 16.00
Net proceeds from IPO	$ 153,100		$ 0	$ 0	$ 149,806
Underwriting fees	$ 11,100
IPO [Member]
Common Stock [Abstract]
Shares issued (in shares)		8,925,000
Over-Allotment Option [Member]
Common Stock [Abstract]
Shares issued (in shares)	1,338,750

Common Stock, Secondary Offerings (Details) - USD ($) $ / shares in Units, $ in Thousands							12 Months Ended
	Sep. 06, 2016	Jun. 10, 2016	Jun. 06, 2016	Feb. 19, 2016	Feb. 18, 2016	Jul. 17, 2015	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Secondary Offering [Abstract]
Shares sold in secondary offering (in shares)	13,725,798		12,152,800		7,873,063
Shares purchased by underwriters in secondary offering (in shares)		1,822,920		1,180,959
Shares sold in secondary offering, including shares purchased by underwriters (in shares)		13,975,720		9,054,022
Number of options exercised (in shares)					1,152,500
Share price (in dollars per share)	$ 26.07	$ 25.00		$ 19.75
Proceeds from stock option exercises					$ 7,500		$ 10,413	$ 13,304	$ 2,271
Legal, accounting and other fees						$ 11,100
Selling, General and Administrative Expenses [Member]
Secondary Offering [Abstract]
Legal, accounting and other fees	$ 600	$ 600		$ 600

Common Stock, Treasury Shares (Details) - $ / shares	12 Months Ended
Common Stock, Treasury Shares (Details) - $ / shares	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Common Stock [Abstract]
Shares repurchased (in shares)	0	0	5,570
Purchase price per share (in dollars per share)			$ 9.99

Transactions with Affiliates and Related Parties (Details) $ in Thousands	12 Months Ended
	Feb. 03, 2018 USD ($) Lease	Jan. 28, 2017 USD ($)	Jan. 30, 2016 USD ($)
Operating Leases for Office and Store Locations [Member]
Transactions with Related Parties [Abstract]
Number of non-cancelable operating leases with related parties \| Lease	5
Future Minimum Lease Payments Required under Non-cancelable Operating Leases [Abstract]
Thereafter	$ 1,600
Operating Leases for Office and Store Locations [Member] \| Minimum [Member]
Future Minimum Lease Payments Required under Non-cancelable Operating Leases [Abstract]
Year ending February 2, 2019	900
Year ending February 1, 2020	900
Year ending January 30, 2021	900
Year ending January 29, 2022	900
Year ending January 28, 2023	900
Operating Leases for Office and Store Locations [Member] \| Maximum [Member]
Future Minimum Lease Payments Required under Non-cancelable Operating Leases [Abstract]
Year ending February 2, 2019	1,200
Year ending February 1, 2020	1,200
Year ending January 30, 2021	1,200
Year ending January 29, 2022	1,200
Year ending January 28, 2023	1,200
Use of Airplane [Member]
Future Minimum Lease Payments Required under Non-cancelable Operating Leases [Abstract]
Payments to related parties	$ 35	$ 100	$ 200

Segment Reporting (Details) - Segment	12 Months Ended
Segment Reporting (Details) - Segment	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Segment Reporting [Abstract]
Number of operating segments	1
Net Sales [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	100.00%	100.00%	100.00%
Housewares [Member] \| Net Sales [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	13.70%	12.70%	13.10%
Food [Member] \| Net Sales [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	11.90%	12.70%	13.20%
Bed and Bath [Member] \| Net Sales [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	10.50%	10.10%	10.10%
Books and Stationery [Member] \| Net Sales [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	10.00%	10.60%	11.50%
Floor Coverings [Member] \| Net Sales [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	7.70%	8.00%	8.60%
Electronics [Member] \| Net Sales [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	6.90%	6.70%	5.60%
Toys [Member] \| Net Sales [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	5.50%	5.20%	4.90%
Health and Beauty Aids [Member] \| Net Sales [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	5.50%	4.10%	2.80%
Other [Member] \| Net Sales [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	28.30%	29.90%	30.20%

Quarterly Results of Operations and Seasonality (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Feb. 03, 2018	Oct. 28, 2017	Jul. 29, 2017	Apr. 29, 2017	Jan. 28, 2017	Oct. 29, 2016	Jul. 30, 2016	Apr. 30, 2016	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Quarterly Results of Operations and Seasonality (Unaudited) [Abstract]
Net sales	$ 356,669	$ 238,116	$ 254,645	$ 227,602	$ 283,355	$ 201,985	$ 211,256	$ 193,719	$ 1,077,032	$ 890,315	$ 762,370
Gross profit	140,497	97,989	100,226	92,935	113,392	84,190	83,814	79,015	431,647	360,411	302,864
Net income	$ 70,054	$ 18,862	$ 19,712	$ 18,966	$ 24,420	$ 10,461	$ 13,135	$ 11,748	$ 127,594	$ 59,764	$ 35,839
Basic earnings per common share (in dollars per share)	$ 1.13	$ 0.31	$ 0.32	$ 0.31	$ 0.40	$ 0.17	$ 0.22	$ 0.20	$ 2.08	$ 0.99	$ 0.67
Diluted earnings per common share (in dollars per share)	$ 1.07	$ 0.29	$ 0.30	$ 0.29	$ 0.39	$ 0.17	$ 0.21	$ 0.19	$ 1.96	$ 0.96	$ 0.64
Tax benefit due to enacted federal tax reform	$ (30,900)								$ (30,900)

Schedule I - Condensed Financial Information of Registrant Ollie's Bargain Outlet Holdings, Inc. (parent company only), Condensed Balance Sheets (Details) - USD ($) $ in Thousands	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016	May 27, 2015	Jan. 31, 2015
Assets [Abstract]
Total current assets	$ 303,676	$ 312,830
Long-term assets [Abstract]
Total assets	1,038,199	1,039,375
Liabilities and Stockholders' Equity [Abstract]
Total current liabilities	136,726	104,821
Total liabilities	241,737	388,114
Stockholders' equity [Abstract]
Common stock	62	61
Additional paid-in capital	583,467	565,861
Retained earnings	213,019	85,425		$ 0
Treasury stock, at cost	(86)	(86)
Total stockholders' equity	796,462	651,261	$ 561,949		$ 416,835
Total liabilities and stockholders' equity	1,038,199	1,039,375
Ollie's Bargain Outlet Holdings, Inc. [Member]
Assets [Abstract]
Total current assets	0	0
Long-term assets [Abstract]
Investment in subsidiaries	796,462	651,261
Total assets	796,462	651,261
Liabilities and Stockholders' Equity [Abstract]
Total current liabilities	0	0
Total long-term liabilities	0	0
Total liabilities	0	0
Stockholders' equity [Abstract]
Common stock	62	61
Additional paid-in capital	583,467	565,861
Retained earnings	213,019	85,425
Treasury stock, at cost	(86)	(86)
Total stockholders' equity	796,462	651,261
Total liabilities and stockholders' equity	$ 796,462	$ 651,261

Schedule I - Condensed Financial Information of Registrant Ollie's Bargain Outlet Holdings, Inc. (parent company only), Condensed Statements of Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Feb. 03, 2018	Oct. 28, 2017	Jul. 29, 2017	Apr. 29, 2017	Jan. 28, 2017	Oct. 29, 2016	Jul. 30, 2016	Apr. 30, 2016	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Condensed Statements of Income [Abstract]
Net sales	$ 356,669	$ 238,116	$ 254,645	$ 227,602	$ 283,355	$ 201,985	$ 211,256	$ 193,719	$ 1,077,032	$ 890,315	$ 762,370
Cost of sales									645,385	529,904	459,506
Gross profit	140,497	97,989	100,226	92,935	113,392	84,190	83,814	79,015	431,647	360,411	302,864
Selling, general and administrative expenses									278,174	242,891	209,783
Depreciation and amortization expenses									9,817	8,443	7,172
Pre-opening expenses									7,900	6,883	6,337
Operating income									135,756	102,194	79,572
Interest expense, net									4,471	5,935	15,416
Income before income taxes and equity in net income of subsidiaries									130,487	96,259	57,446
Income tax expense									2,893	36,495	21,607
Net income	$ 70,054	$ 18,862	$ 19,712	$ 18,966	$ 24,420	$ 10,461	$ 13,135	$ 11,748	127,594	59,764	35,839
Ollie's Bargain Outlet Holdings, Inc. [Member]
Condensed Statements of Income [Abstract]
Net sales									0	0	0
Cost of sales									0	0	0
Gross profit									0	0	0
Selling, general and administrative expenses									0	0	0
Depreciation and amortization expenses									0	0	0
Pre-opening expenses									0	0	0
Operating income									0	0	0
Interest expense, net									0	0	0
Income before income taxes and equity in net income of subsidiaries									0	0	0
Income tax expense									0	0	0
Income before equity in net income of subsidiaries									0	0	0
Net income of subsidiaries									127,594	59,764	35,839
Net income									$ 127,594	$ 59,764	$ 35,839

Schedule I - Condensed Financial Information of Registrant Ollie's Bargain Outlet Holdings, Inc. (parent company only), Notes to Condensed Financial Statements (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2018	Jan. 28, 2017	Jan. 30, 2016
Basis of Presentation [Abstract]
Net increase (decrease) in cash and cash equivalents	$ (59,449)	$ 68,424	$ 8,307
Guarantees and Restrictions [Abstract]
Outstanding borrowings	48,530	193,740
New Term Loan Facility [Member]
Guarantees and Restrictions [Abstract]
Outstanding borrowings	48,800
New Revolving Credit Facility [Member]
Guarantees and Restrictions [Abstract]
Borrowing availability	96,000
Ollie's Bargain Outlet Holdings, Inc. [Member]
Basis of Presentation [Abstract]
Net increase (decrease) in cash and cash equivalents	0	$ 0	$ 0
Ollie's Bargain Outlet Holdings, Inc. [Member] \| New Term Loan Facility [Member]
Guarantees and Restrictions [Abstract]
Outstanding borrowings	$ 48,800
Maturity date	Jan. 29, 2021
Ollie's Bargain Outlet Holdings, Inc. [Member] \| New Revolving Credit Facility [Member]
Guarantees and Restrictions [Abstract]
Maturity date	Jan. 29, 2021
Borrowing availability	$ 96,000