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Document and Entity Information - shares	9 Months Ended
Oct. 31, 2015	Dec. 08, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 31, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3
Trading Symbol	ck0001639300
Entity Registrant Name	Ollie's Bargain Outlet Holdings, Inc.
Entity Central Index Key	0001639300
Current Fiscal Year End Date	--01-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		58,512,940

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 31, 2015	Jan. 31, 2015	Nov. 01, 2014
Current assets:
Cash	$ 3,960	$ 21,952	$ 3,341
Inventories	212,581	169,872	185,843
Accounts receivable	418	318	343
Deferred income taxes	4,559	4,166	3,166
Prepaid expenses and other assets	6,771	1,969	6,198
Total current assets	228,289	198,277	198,891
Property and equipment, net of accumulated depreciation of $25,924, $17,331 and $19,403, respectively	38,726	33,926	34,379
Goodwill	444,850	444,850	444,850
Trade name and other intangible assets, net of accumulated amortization of $1,196, $969 and $1,060, respectively	233,291	233,625	233,742
Other assets	5,185	6,453	6,841
Total assets	950,341	917,131	918,703
Current liabilities:
Current portion of long-term debt	3,367	7,794	3,350
Accounts payable	50,995	50,498	44,600
Income taxes payable		4,702
Accrued expenses	31,321	27,640	28,895
Total current liabilities	85,683	90,634	76,845
Revolving credit facility	18,054		22,667
Long-term debt	209,080	313,493	318,619
Deferred income taxes	91,673	93,256	93,782
Other long-term liabilities	4,099	2,913	2,872
Total liabilities	408,589	500,296	514,785
Stockholders' equity:
Preferred stock, Value
Common stock, Value	59
Additional paid-in capital	532,182	393,078	392,169
Retained earnings	9,597	23,738	11,730
Treasury - common stock, at cost; 8,625, 2,875 and 2,875 shares, respectively	(86)	(29)	(29)
Total stockholders' equity	541,752	416,835	403,918
Total liabilities and stockholders' equity	950,341	917,131	918,703
Common Stock Class A [Member]
Stockholders' equity:
Common stock, Value		48	48
Common Stock Class B [Member]
Stockholders' equity:
Common stock, Value	$ 0	$ 0	$ 0

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Oct. 31, 2015	Jan. 31, 2015	Nov. 01, 2014
Property and equipment, accumulated depreciation	$ 25,924	$ 19,403	$ 17,331
Trade name and other intangible assets, accumulated amortization	$ 1,196	$ 1,060	$ 969
Preferred stock, Shares authorized	50,000,000	0	0
Preferred stock, Par value	$ 0.001	$ 0.001	$ 0.001
Preferred stock, Shares issued	0	0	0
Common stock, Shares authorized	500,000,000	0	0
Common stock, Par value	$ 0.001	$ 0.001	$ 0.001
Common stock, Shares issued	58,521,565	0	0
Treasury stock, Shares	8,625	2,875	2,875
Common Stock Class A [Member]
Common stock, Shares authorized	0	85,000,000	85,000,000
Common stock, Par value	$ 0.001	$ 0.001	$ 0.001
Common stock, Shares issued	0	48,203,515	48,203,515
Common Stock Class B [Member]
Common stock, Shares authorized	0	8,750,000	8,750,000
Common stock, Par value	$ 0.001	$ 0.001	$ 0.001
Common stock, Shares issued	0	0	0

Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2015	Nov. 01, 2014	Oct. 31, 2015	Nov. 01, 2014
Income Statement [Abstract]
Net sales	$ 174,565	$ 150,005	$ 518,968	$ 437,310
Cost of sales	104,641	90,410	314,943	263,108
Gross profit	69,924	59,595	204,025	174,202
Selling, general and administrative expenses	51,796	44,063	147,242	126,066
Depreciation and amortization expenses	1,810	1,773	5,265	5,291
Pre-opening expenses	2,380	1,132	5,252	4,186
Operating income	13,938	12,627	46,266	38,659
Interest expense, net	3,289	4,754	12,286	13,796
Loss on extinguishment of debt			2,351	671
Income before income taxes	10,649	7,873	31,629	24,192
Income tax expense	3,887	3,022	11,854	9,285
Net income	$ 6,762	$ 4,851	$ 19,775	$ 14,907
Earnings per common share:
Basic	$ 0.12	$ 0.10	$ 0.38	$ 0.31
Diluted	$ 0.11	$ 0.10	$ 0.37	$ 0.31
Weighted-average common shares outstanding:
Basic	58,478,249	48,202,093	52,258,973	48,203,041
Diluted	60,703,586	48,839,990	54,101,964	48,415,673

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Common Stock Class A [Member] Common Stock [Member]
Beginning Balance at Feb. 01, 2014	$ 444,139			$ 423,668	$ 20,423	$ 48
Beginning Balance, shares at Feb. 01, 2014						48,203,515
Purchase of treasury stock	(29)		$ (29)
Purchase of treasury stock, shares			(2,875)
Dividend paid	(57,951)			(34,351)	(23,600)
Stock-based compensation expense	2,852			2,852
Net income	14,907				14,907
Ending Balance at Nov. 01, 2014	403,918		$ (29)	392,169	11,730	$ 48
Ending Balance, shares at Nov. 01, 2014			(2,875)			48,203,515
Beginning Balance at Jan. 31, 2015	416,835		$ (29)	393,078	23,738	$ 48
Beginning Balance, shares at Jan. 31, 2015			(2,875)			48,203,515
Purchase of treasury stock	(57)		$ (57)
Purchase of treasury stock, shares			(5,750)
Proceeds from stock options exercised	$ 357	$ 1		356
Proceeds from stock options exercised, shares	54,300	49,700				4,600
Excess tax benefit related to exercises of stock options	$ 217			217
Conversion of Class A and Class B common stock to a single class of common stock		$ 48				$ (48)
Conversion of Class A and Class B common stock to a single class of common stock, shares		48,208,115				(48,208,115)
Proceeds from issuance of common stock, net of expenses	149,806	$ 10		149,796
Proceeds from issuance of common stock, net of expenses, shares		10,263,750
Dividend paid	(48,848)			(14,932)	(33,916)
Stock-based compensation expense	3,667			3,667
Net income	19,775				19,775
Ending Balance at Oct. 31, 2015	$ 541,752	$ 59	$ (86)	$ 532,182	$ 9,597
Ending Balance, shares at Oct. 31, 2015		58,521,565	(8,625)

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2015	Nov. 01, 2014
Cash flows from operating activities:
Net income	$ 19,775	$ 14,907
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization of property and equipment	6,567	5,926
Amortization of debt issuance costs	1,041	1,093
Amortization of original issue discount	365	425
Loss on extinguishment of debt	2,351	671
Amortization of intangibles	334	617
Gain on disposal of assets		(28)
Deferred income tax benefit	(1,976)	(1,893)
Deferred rent expense	1,540	920
Stock-based compensation expense	3,667	2,852
Changes in operating assets and liabilities:
Inventories	(42,709)	(39,625)
Accounts receivable	(100)	(4)
Prepaid expenses and other assets	(4,401)	(452)
Accounts payable	93	6,975
Income taxes payable	(5,257)	(7,599)
Accrued expenses and other liabilities	3,327	3,017
Net cash used in operating activities	(15,383)	(12,198)
Cash flows from investing activities:
Purchases of property and equipment	(10,917)	(12,124)
Proceeds from sale of property and equipment	23	43
Net cash used in investing activities	(10,894)	(12,081)
Cash flows from financing activities:
Borrowings on revolving credit facility	444,791	482,464
Repayments on revolving credit facility	(426,737)	(459,797)
Borrowings on term loan		59,592
Repayments on term loan	(110,092)	(6,776)
Proceeds from issuance of common stock, net of expenses	149,806
Proceeds from stock option exercise	357
Excess tax benefit related to exercises of stock options	217
Payment of debt issuance costs	(1,152)	(2,049)
Payment of dividend	(48,848)	(57,951)
Purchase of treasury stock	(57)	(29)
Net cash provided by financing activities	8,285	15,454
Net decrease in cash	(17,992)	(8,825)
Cash at the beginning of the period	21,952	12,166
Cash at the end of the period	3,960	3,341
Supplemental disclosure of cash flow information:
Interest	10,800	11,978
Income taxes	$ 18,882	$ 18,755

Organization and Summary of Significant Accounting Policies

9 Months Ended

Oct. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [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., operates through its sole operating subsidiary, Ollie’s Bargain Outlet, Inc., a chain of retail stores which offer brand name products at deeply discounted and closeout prices across a broad selection of product categories. Ollie’s Bargain Outlet Holdings, Inc. together with its subsidiaries will be referenced herein as the Company or Ollie’s. Ollie’s principally buys overproduced, overstocked, and closeout merchandise from manufacturers, wholesalers, and other retailers. In addition, the Company augments brand name closeout deals with directly sourced private label products featuring names exclusive to Ollie’s in order to provide consistent assortment of value-priced goods in select key merchandise categories.

Since the first store opened in 1982, the Company has grown to 200 retail locations as of October 31, 2015 compared to 173 locations as of November 1, 2014. Ollie’s Bargain Outlet retail locations are located in 17 states (Alabama, Connecticut, Delaware, Georgia, Indiana, Kentucky, Maryland, Michigan, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia).

(b)

Fiscal Year

Ollie’s follows a 52/53-week fiscal year, which ends on the Saturday nearest to January 31st. References to the fiscal year ended January 31, 2015 refer to the period from February 2, 2014 to January 31, 2015. The fiscal quarters ended October 31, 2015 and November 1, 2014 refer to the thirteen weeks from August 2, 2015 to October 31, 2015 and from August 3, 2014 to November 1, 2014, respectively. The year-to-date periods ended October 31, 2015 and November 1, 2014 refer to the thirty-nine weeks from February 1, 2015 to October 31, 2015 and from February 2, 2014 to November 1, 2014, respectively.

(c)

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and applicable rules and regulations of the SEC regarding interim financial reporting. The condensed consolidated financial statements reflect all normal recurring adjustments which management believes are necessary to present fairly the Company’s financial condition, results of operations, and cash flows for all periods presented. The condensed consolidated balance sheets as of October 31, 2015 and November 1, 2014, the condensed consolidated statements of income for the thirteen weeks and thirty-nine weeks ended October 31, 2015 and November 1, 2014, and the condensed consolidated statements of stockholders’ equity and cash flows for the thirty-nine weeks ended October 31, 2015 and November 1, 2014 have been prepared by the Company and are unaudited. The Company’s business is seasonal in nature and results of operations for the interim periods presented are not necessarily indicative of operating results for the year ending January 30, 2016 or any other period. All intercompany accounts, transactions, and balances have been eliminated in consolidation.

The Company’s balance sheet as of January 31, 2015, presented herein, has been derived from the audited balance sheet included in the Company’s prospectus, dated July 15, 2015 related to the Company’s initial public offering (“IPO”) and filed with the Securities and Exchange Commission (“SEC”) pursuant to Rule 424(b) under the Securities Act of 1933, and referred to herein as the “Prospectus,” but does not include all disclosures required by GAAP. These financial statements should be read in conjunction with the financial statements for the fiscal year ended January 31, 2015 and footnotes thereto included in the Prospectus.

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.

(d)

Use of Estimates

The preparation of condensed consolidated financial statements in conformity with 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 condensed 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 which 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, accounts receivable, accounts payable, revolving credit facility and our term loan. The carrying amount of cash, accounts receivable and accounts payable approximates fair value because of their short maturities. The carrying amount of the revolving credit facility and term loan facility approximates its fair value because the interest rates are adjusted regularly based on current market conditions.

(f)

Supplemental Cash Flow Information

As of October 31, 2015 and November 1, 2014, capital expenditures of $0.8 million and $0.5 million, respectively, had been incurred but not yet paid in cash and, accordingly, were accrued in accounts payable and accrued expenses.

(g)

Stock Split

On June 17, 2015, the Company effected a stock split of the Company’s common stock at a ratio of 115 shares for every share previously held. All common stock share and common stock per share amounts for all periods presented in these financial statements have been adjusted retroactively to reflect the stock split.

(h)

Initial Public Offering

On July 15, 2015, the Company priced its initial public offering of 8,925,000 shares of its common stock. 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 4, “Debt Obligations and Financing Arrangements.”

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.

(i)

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.

Entities have an option to perform a qualitative assessment to determine whether further impairment testing on goodwill is necessary. Specifically, an entity has the option to first assess qualitative factors to determine whether it is necessary to perform the two-step quantitative test. The goodwill quantitative impairment test is a two-step test. Under the first step, the fair value of the reporting unit is compared with its carrying value (including goodwill). If the fair value of the reporting unit is less than its carrying value, an indication of goodwill impairment exists for the reporting unit and the enterprise must perform step two of the impairment test (measurement). Under step two, 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. If an entity believes, as a result of its qualitative assessment, that it is more-likely than-not that the fair value of a reporting unit is less than its carrying amount, the quantitative impairment test is required. Otherwise, no further testing is required. The Company has selected the fiscal month ending date of October as the annual impairment testing date. As of October 31, 2015 and November 1, 2014, the Company completed a qualitative impairment test. Based upon the results of the qualitative tests, no impairment of goodwill existed.

The Company is also required to perform impairment tests annually or more frequently if events or circumstances indicate that the value of its non-amortizing intangible assets might be impaired. The Company’s non-amortizing intangible assets as of October 31, 2015 and November 1, 2014 consisted of a tradename. Entities have an option to perform a qualitative assessment to determine whether further impairment testing of non-amortizing intangible assets is necessary. Specifically, an entity has the option to first assess qualitative factors to determine whether it is necessary to perform a quantitative test. The Company performs the quantitative impairment test using the discounted cash flow method based on management’s projections to determine the fair value of the asset. The carrying amount of the asset is then compared to the fair value. If the carrying amount is greater than fair value, an impairment loss is recorded for the amount that fair value is less than the carrying amount. If an entity believes, as a result of its qualitative assessment, that it is more-likely than-not that the fair value is less than its carrying amount, the quantitative impairment test is required. Otherwise, no further testing is required. As of October 31, 2015 and November 1, 2014, the Company completed a qualitative impairment test. Based upon the results of the qualitative tests, no impairment of the tradename existed.

(j)

Recently Issued Accounting Pronouncements

Contracts with Customers

In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 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. ASU No. 2014-09 will replace most existing revenue recognition guidance in GAAP when it becomes effective. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers: Deferral of the Effective Date which defers the effective date for ASU 2014-09 by one year to January 1, 2018; however, public business entities would be permitted to adopt the standard as of the original effective date. The Company has not selected a transition method and is currently evaluating the impact this guidance will have on the consolidated balance sheet, results of operations and cash flows.

Deferred Taxes

In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes. This update requires an entity to classify deferred tax liabilities and assets as noncurrent within a classified balance sheet. ASU 2015-17 is effective for annual reporting periods, and interim periods therein, beginning after December 15, 2016. This update may be applied either prospectively to all deferred tax liabilities and assets or retrospectively to all periods presented. Early application is permitted as of the beginning of the interim or annual reporting period. The Company is currently reviewing the revised guidance and assessing the potential impact on its consolidated financial statements.

Debt Obligations and Financing Arrangements

9 Months Ended

Oct. 31, 2015

Debt Disclosure [Abstract]

Debt Obligations and Financing Arrangements

(4)

Debt Obligations and Financing Arrangements

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


	October 31, 2015			November 1, 2014			January 31, 2015
Term loan	$	212,377		$	321,969		$	321,287
Capital leases		70			—			—

Total debt		212,447			321,969			321,287
Less: current portion		(3,367	)		(3,350	)		(7,794	)

Long-term debt	$	209,080		$	318,619		$	313,493

The Company has two credit agreements in place including a Term Loan and a Revolving Credit Facility. As of October 31, 2015, November 1, 2014, and January 31, 2015 the amounts outstanding under the Term Loan, are net of unamortized original issue discount of $1.6 million, $2.9 million and $2.8 million, respectively.

The variable methods of determining interest rates for the Term Loan, calculated as the higher of the Prime Rate, the Federal Funds Effective Rate plus 0.50%, the Eurodollar Rate plus 1.00%, or 2.00%; plus the Applicable Margin. The Term Loan also allows for Eurodollar Loans with a floor of 1.00%, plus the Applicable Margin. The Applicable Margin is 2.75% for a Base Rate Loan and 3.75% for a Eurodollar Loan. As of October 31, 2015 and November 1, 2014, the interest rate on outstanding borrowings under the Term Loan was 4.75%.

On April 11, 2014, the Company entered into a Second Amendment to the Term Loan which allowed the Company to borrow an additional principal amount of $60.0 million. The primary purpose of the additional term loan borrowing was to distribute $58.0 million as a cash dividend to common shareholders as consented by the original Term Loan lenders. The total dividend amount was recorded as a reduction of retained earnings of $23.6 million to reduce the retained earnings balance as of the dividend date to zero and the additional $34.4 million was recorded as a reduction of additional paid-in capital. The proceeds received were net of $2.0 million, of which $1.3 million was recognized as deferred financing fees, $0.4 million was recorded as additional original issue discount, and $0.3 million was recognized as selling, general and administrative expenses. In connection with this amendment, $0.4 million of debt issuance cost and $0.2 million of original issue discount were accelerated on the date of the amendment and included within the loss on the extinguishment of debt.

On May 27, 2015, the Company amended the Term Loan and Revolving Credit Facility to, among other things, increase the size of the Revolving Credit Facility from $75.0 million 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 the IPO. In connection with this repayment, $1.5 million of debt issuance costs and $0.8 million of original issue discount were written off and included in the loss on extinguishment of debt.

Under the terms of the Revolving Credit Facility, as of October 31, 2015 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 our eligible inventory, as defined, up to $125.0 million. The Revolving Credit Facility includes a $25.0 million sub-facility for letters of credit and a $20.0 million swingline loan facility. The Revolving Credit Facility includes variable methods of determining interest rates, calculated as the higher of the Prime Rate, the Federal Funds Effective Rate plus 0.50%, or the Eurodollar Rate plus 1.00%; plus Applicable Margin (which could range from 0.75% to 1.25%). Under the terms of the Revolving Credit Facility, the Applicable Margin may fluctuate subject to periodic measurements of average availability, as defined. The Revolving Credit Facility also allows for Eurodollar Loans comprised of the Eurodollar Base Rate plus Applicable Margin (which could range from 1.75% to 2.25%).

As of October 31, 2015, Ollie’s had $18.1 million of outstanding borrowings under the Revolving Credit Facility, with $103.4 million of borrowing availability, letter of credit commitments of $3.3 million and $0.2 million of rent reserves. The interest rate applicable to the outstanding borrowings as of October 31, 2015 is 4.00%. The Revolving Credit Facility also contains a variable unused line fee ranging from 0.250% to 0.375% per annum.

The Revolving Credit Facility and Term Loan 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 Company was in compliance with all terms of the agreements during and as of the thirty-nine weeks ended October 31, 2015 and November 1, 2014.

Equity Incentive Plans

9 Months Ended

Oct. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Equity Incentive Plans

(7)

Equity Incentive Plans

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. The exercise price for stock options is determined at the fair value on 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. The Company uses authorized and unissued shares to satisfy share award exercises. As of October 31, 2015, there were 4,681,800 shares available for grant under the 2015 Plan.

A summary of the Company’s stock option activity and related information for the thirty-nine weeks ended October 31, 2015, is as follows:


	Number of options			Weighted average exercise price		Weighted average remaining contractual term (years)
Outstanding at January 31, 2015		6,010,475		$	6.66
Granted		1,353,500			13.47
Forfeited		(43,550	)		6.81
Exercised		(54,300	)		6.57

Outstanding at October 31, 2015		7,266,125			7.93		7.6

Exercisable at October 31, 2015		3,144,525			6.54		7.0

Pursuant to the anti-dilutive clause in the 2012 Plan, the option exercise price for all options issued prior to the May 27, 2015 dividend were reduced. The exercise prices in the above table have been adjusted retroactively to reflect the reductions.

The compensation cost which has been recorded within selling, general and administrative expenses for the Company’s equity incentive plans was $1.4 million and $3.7 million for the thirteen and thirty-nine weeks ended October 31, 2015, respectively and $1.0 million and $2.9 million for the thirteen weeks and thirty-nine weeks ended November 1, 2014, respectively.

As of October 31, 2015, there was $14.9 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 3.1 years as of October 31, 2015. Awards with graded vesting are recognized using the straight-line method.

Determining the appropriate fair value of stock-based awards requires the input of subjective assumptions, including the fair value of the Company’s common stock and for stock options, the expected life of the option and expected stock price volatility. The Company uses the Black-Scholes option pricing model to value its stock option awards. The assumptions used in calculating the fair value of stock-based awards represent management’s best estimates and involve inherent uncertainties and the application of management’s judgment. As a result, if factors change and management uses different assumptions, stock-based compensation expense could be materially different for future awards.

The expected life of stock options was estimated using the “simplified method,” as the Company has no 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.

The weighted average grant date fair value per option for options granted during the thirty-nine weeks ended October 31, 2015 and November 1, 2014 was $5.03 and $3.52, 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:


	Thirty-nine weeks ended
	October 31, 2015			November 1, 2014
Risk-free interest rate		1.99	%		2.08	%
Expected dividend yield		—			—
Expected term (years)		6.4 years			6.5 years
Expected volatility		31.67	%		32.50	%

Organization and Summary of Significant Accounting Policies (Policies)

9 Months Ended

Oct. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description of Business

(a)

Description of Business

Fiscal Year

(b)

Fiscal Year

Basis of Presentation

(c)

Basis of Presentation

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.

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.

Supplemental Cash Flow Information

(f)

Supplemental Cash Flow Information

Stock Split

(g)

Stock Split

Initial Public Offering

(h)

Initial Public Offering

Goodwill/intangible assets

(i)

Goodwill/intangible assets

Recently Issued Accounting Pronouncements

(j)

Recently Issued Accounting Pronouncements

Contracts with Customers

Deferred Taxes

Organization and Summary of Significant Accounting Policies - Additional Information (Detail)						9 Months Ended
	Oct. 31, 2015 USD ($) Location States $ / shares shares	Jul. 17, 2015 $ / shares shares	Jul. 15, 2015 USD ($) shares	Jun. 17, 2015 shares	Nov. 01, 2014 USD ($) Location $ / shares shares	Oct. 31, 2015 Location States $ / shares shares	Jan. 31, 2015 $ / shares shares
Organization And Summary Of Significant Accounting Policies [Line Items]
Number of retail locations \| Location	200				173	200
Retail locations currently located states \| States	17					17
Capital expenditures incurred but not yet paid \| $	$ 800,000				$ 500,000
Common stock, Stock split				115
Common stock, Shares authorized	500,000,000				0	500,000,000	0
Common stock, Par value \| $ / shares	$ 0.001				$ 0.001	$ 0.001	$ 0.001
Preferred stock, Shares authorized	50,000,000				0	50,000,000	0
Preferred stock, Par value \| $ / shares	$ 0.001				$ 0.001	$ 0.001	$ 0.001
Impairment of intangible assets \| $	$ 0				$ 0
Trade Names [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Impairment of intangible assets \| $	$ 0				$ 0
Common Stock [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Shares issued during period, Shares		10,263,750				10,263,750
Shares issued price per share \| $ / shares		$ 16.00
IPO [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Shares issued during period, Shares			8,925,000
Net proceeds after deducting underwriting fees \| $			$ 153,100,000
Underwriting fees \| $			$ 11,100,000
Common stock, Shares authorized	500,000,000					500,000,000
Common stock, Par value \| $ / shares	$ 0.001					$ 0.001
Preferred stock, Shares authorized	50,000,000					50,000,000
Preferred stock, Par value \| $ / shares	$ 0.001					$ 0.001
Over-Allotment Option [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Shares issued during period, Shares		1,338,750

Earnings per Common Share - Summary of Effects for Diluted Net Income per Common Share Calculation (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2015	Nov. 01, 2014	Oct. 31, 2015	Nov. 01, 2014
Earnings Per Share [Abstract]
Net income	$ 6,762	$ 4,851	$ 19,775	$ 14,907
Weighted average number of common shares outstanding - Basic	58,478,249	48,202,093	52,258,973	48,203,041
Incremental shares from the assumed exercise of outstanding stock options	2,225,337	637,897	1,842,991	212,632
Weighted average number of common shares outstanding - Diluted	60,703,586	48,839,990	54,101,964	48,415,673
Earnings per common share - Basic	$ 0.12	$ 0.10	$ 0.38	$ 0.31
Earnings per common share - Diluted	$ 0.11	$ 0.10	$ 0.37	$ 0.31

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References + Details

- Definition

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

+ References + Details

Accrued Expenses - Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands	Oct. 31, 2015	Jan. 31, 2015	Nov. 01, 2014
Payables and Accruals [Abstract]
Accrued compensation and benefits	$ 9,350	$ 8,307	$ 7,450
Sales and use taxes	2,538	1,273	1,970
Accrued real estate related	2,271	1,631	1,495
Accrued insurance	3,091	2,134	2,156
Accrued advertising	2,811	3,421	2,289
Accrued interest	259	178	3,964
Accrued freight	3,428	2,766	3,551
Other	7,573	7,930	6,020
Total accrued expenses	$ 31,321	$ 27,640	$ 28,895

Debt Obligations and Financing Arrangements - Additional Information (Detail)				1 Months Ended	9 Months Ended
	Oct. 31, 2015 USD ($)	May 27, 2015 USD ($)	Apr. 11, 2014 USD ($)	Jul. 31, 2015 USD ($)	Oct. 31, 2015 USD ($) Agreement	Nov. 01, 2014 USD ($)	May 26, 2015 USD ($)	Jan. 31, 2015 USD ($)
Line of Credit Facility [Line Items]
Number of credit agreements \| Agreement					2
Retained earnings balance as of dividend date	$ 9,597,000				$ 9,597,000	$ 11,730,000		$ 23,738,000
Dividend recorded as a reduction of additional paid-in capital					48,848,000	57,951,000
Borrowings under the credit agreement					444,791,000	482,464,000
Repayments on revolving credit facility					426,737,000	459,797,000
Repayments on term loan					110,092,000	6,776,000
Debt issuance costs written off					1,041,000	1,093,000
Senior Secured Credit Facilities [Member]
Line of Credit Facility [Line Items]
Debt issuance costs written off				$ 1,500,000
Debt original issue discount written off				800,000
Term Loan [Member]
Line of Credit Facility [Line Items]
Additional Original debt issue discount	$ 1,600,000				$ 1,600,000	$ 2,900,000		$ 2,800,000
Interest rates description					The higher of the Prime Rate, the Federal Funds Effective Rate plus 0.50%, the Eurodollar Rate plus 1.00%, or 2.00%; plus the Applicable Margin. The Term Loan also allows for Eurodollar Loans with a floor of 1.00%, plus the Applicable Margin. The Applicable Margin is 2.75% for a Base Rate Loan and 3.75% for a Eurodollar Loan.
Interest rate on outstanding borrowings under the Term Loan	4.75%				4.75%	4.75%
Term Loan [Member] \| Federal Funds Effective [Member]
Line of Credit Facility [Line Items]
Credit Facility interest rate					0.50%
Term Loan [Member] \| Eurodollar [Member]
Line of Credit Facility [Line Items]
Applicable margin					3.75%
Term Loan [Member] \| Eurodollar [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Credit Facility interest rate					1.00%
Term Loan [Member] \| Eurodollar [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Credit Facility interest rate					2.00%
Term Loan [Member] \| Eurodollar [Member] \| Floor Rate [Member]
Line of Credit Facility [Line Items]
Credit Facility interest rate					1.00%
Term Loan [Member] \| Base Rate [Member]
Line of Credit Facility [Line Items]
Applicable margin					2.75%
Term Loan [Member] \| Senior Secured Credit Facilities [Member]
Line of Credit Facility [Line Items]
Additional Original debt issue discount			$ 400,000
Dividend recorded as a reduction of retained earnings			23,600,000
Retained earnings balance as of dividend date			0
Dividend recorded as a reduction of additional paid-in capital			34,400,000
Debt issuance costs			2,000,000
Deferred debt financing fees recognized			1,300,000
Debt issuance costs recognized in general and administrative expenses			300,000
Repayments on term loan				103,100,000
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Credit Facility maximum borrowing capacity		$ 125,000,000					$ 75,000,000
Borrowings under the credit agreement		50,000,000
Payment of cash dividend		48,800,000
Credit Facility maximum borrowing capacity, percentage	90.00%				90.00%
Interest rates description					The higher of the Prime Rate, the Federal Funds Effective Rate plus 0.50%, or the Eurodollar Rate plus 1.00%; plus Applicable Margin (which could range from 0.75% to 1.25%). Under the terms of the Revolving Credit Facility, the Applicable Margin may fluctuate subject to periodic measurements of average availability, as defined. The Revolving Credit Facility also allows for Eurodollar Loans comprised of the Eurodollar Base Rate plus Applicable Margin (which could range from 1.75% to 2.25%).
Credit Facility	$ 18,100,000				$ 18,100,000
Borrowings available under credit facility	103,400,000				103,400,000
Letter of credit commitments	3,300,000				3,300,000
Rent reserves	$ 200,000				200,000
Credit Facility interest rate applicable	4.00%
Revolving Credit Facility [Member] \| Letter of Credit [Member]
Line of Credit Facility [Line Items]
Credit Facility current borrowing capacity	$ 25,000,000				25,000,000
Revolving Credit Facility [Member] \| Swingline Loan Facility [Member]
Line of Credit Facility [Line Items]
Credit Facility current borrowing capacity	$ 20,000,000				$ 20,000,000
Revolving Credit Facility [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Applicable margin					0.75%
Credit Facility, variable unused line fee					0.25%
Revolving Credit Facility [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Applicable margin					1.25%
Credit Facility, variable unused line fee					0.375%
Revolving Credit Facility [Member] \| Federal Funds Effective [Member]
Line of Credit Facility [Line Items]
Credit Facility interest rate					0.50%
Revolving Credit Facility [Member] \| Eurodollar [Member]
Line of Credit Facility [Line Items]
Credit Facility interest rate					1.00%
Revolving Credit Facility [Member] \| Eurodollar [Member] \| Minimum [Member]
Line of Credit Facility [Line Items]
Applicable margin on the interest rate	1.75%				1.75%
Revolving Credit Facility [Member] \| Eurodollar [Member] \| Maximum [Member]
Line of Credit Facility [Line Items]
Applicable margin on the interest rate	2.25%				2.25%
Revolving Credit Facility [Member] \| Senior Secured Credit Facilities [Member]
Line of Credit Facility [Line Items]
Dividend recorded as a reduction of retained earnings	$ 33,900,000				$ 33,900,000
Retained earnings balance as of dividend date		$ 0
Dividend recorded as a reduction of additional paid-in capital	$ 14,900,000
Repayments on revolving credit facility				$ 50,000,000
Term Loan, Second Amendment [Member] \| Term Loan [Member] \| Senior Secured Credit Facilities [Member]
Line of Credit Facility [Line Items]
Additional principal amount allowed			$ 60,000,000
Description regarding additional principal amount allowed under Term Loan			The primary purpose of the additional term loan borrowing was to distribute $58.0 million as a cash dividend to common shareholders as consented by the original Term Loan lenders.
Amount available under Term Loan to distribute cash dividend to common shareholders			$ 58,000,000
Increase in debt issuance cost			400,000
Increase in original issue discount			$ 200,000

Equity Incentive Plans - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Oct. 31, 2015	Nov. 01, 2014	Oct. 31, 2015	Nov. 01, 2014	Jul. 15, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost related to non-vested stock-based compensation arrangements granted	$ 14.9		$ 14.9
Cost expected to be recognized over weighted average period			3 years 1 month 6 days
Weighted average grant date fair value per option for options granted			$ 5.03	$ 3.52
Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost	$ 1.4	$ 1.0	$ 3.7	$ 2.9
2012 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for options			5 years
Vesting percentage of options			20.00%
Options granted, expiration period			10 years
Common stock available for grant					0
2015 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for options			4 years
Vesting percentage of options			25.00%
Options granted, expiration period			10 years
Common stock available for grant	4,681,800		4,681,800
2015 Plan [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for issuance under equity incentive plan	5,250,000		5,250,000

Equity Incentive Plans - Summary of Stock Option Activity and Related Information (Detail)	9 Months Ended
	Oct. 31, 2015 $ / shares shares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Number of options, Outstanding, Beginning Balance \| shares	6,010,475
Number of options, Granted \| shares	1,353,500
Number of options, Forfeited \| shares	(43,550)
Number of options, Exercised \| shares	(54,300)
Number of options, Outstanding, Ending Balance \| shares	7,266,125
Number of options, Exercisable at October 31, 2015 \| shares	3,144,525
Weighted average exercise price, Outstanding, Beginning Balance \| $ / shares	$ 6.66
Weighted average exercise price, Granted \| $ / shares	13.47
Weighted average exercise price, Forfeited \| $ / shares	6.81
Weighted average exercise price, Exercised \| $ / shares	6.57
Weighted average exercise price, Outstanding, Ending Balance \| $ / shares	7.93
Weighted average exercise price, Exercisable at October 31, 2015 \| $ / shares	$ 6.54
Weighted average remaining contractual term (years), Outstanding	7 years 7 months 6 days
Weighted average remaining contractual term (years), Exercisable	7 years

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	9 Months Ended
	Oct. 31, 2015	Nov. 01, 2014
Statement of Stockholders' Equity [Abstract]
Dividends Paid, per share	$ 1.01	$ 1.20

Income Taxes - Additional Information (Detail)	3 Months Ended		9 Months Ended
Income Taxes - Additional Information (Detail)	Oct. 31, 2015	Nov. 01, 2014	Oct. 31, 2015	Nov. 01, 2014
Income Tax Disclosure [Abstract]
Effective tax rates	36.50%	38.40%	37.50%	38.40%

Commitments and Contingencies - Additional Information (Detail) $ in Millions	9 Months Ended
	Oct. 31, 2015 USD ($) Lease
Operating Leased Assets [Line Items]
Number of new store leases \| Lease	27
Lease description	The fully executed leases have initial terms typically between five to seven years with options to renew for two or three successive five-year periods. The initial terms of these new store leases have future minimum lease payments totaling approximately $30.6 million.
Renew period of fully executed leases	5 years
Future minimum lease payments, total \| $	$ 30.6
Minimum [Member]
Operating Leased Assets [Line Items]
Initial terms of fully executed leases	5 years
Maximum [Member]
Operating Leased Assets [Line Items]
Initial terms of fully executed leases	7 years

Transactions with Related Parties - Additional Information (Detail) $ in Millions	9 Months Ended
	Oct. 31, 2015 USD ($) Lease	Nov. 01, 2014 USD ($)
Operating Leases From Related Party [Member]
Related Party Transaction [Line Items]
Number of non-cancelable operating leases with related parties \| Lease	5
Rent payments to related parties	$ 0.9	$ 0.9
Use of Airplane [Member]
Related Party Transaction [Line Items]
Payment to related party	$ 0.1	$ 0.1

Debt Obligations and Financing Arrangements - Schedule Of Long-term Debt (Detail) - USD ($) $ in Thousands	Oct. 31, 2015	Jan. 31, 2015	Nov. 01, 2014
Debt Disclosure [Abstract]
Term loan	$ 212,377	$ 321,287	$ 321,969
Capital leases	70
Total debt	212,447	321,287	321,969
Total debt	212,447	321,287	321,969
Less: current portion	(3,367)	(7,794)	(3,350)
Long-term debt	$ 209,080	$ 313,493	$ 318,619