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Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Jan. 28, 2017	Mar. 27, 2017	Jul. 30, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	Ollie's Bargain Outlet Holdings, Inc.
Entity Central Index Key	0001639300
Current Fiscal Year End Date	--01-28
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 884
Entity Common Stock, Shares Outstanding		60,882,015
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Jan. 28, 2017

Consolidated Balance Sheets - USD ($) $ in Thousands	Jan. 28, 2017	Jan. 30, 2016
Current assets:
Cash and cash equivalents	$ 98,683	$ 30,259
Inventories	210,107	190,608
Accounts receivable	301	183
Prepaid expenses and other assets	3,739	2,756
Total current assets	312,830	223,806
Property and equipment, net of accumulated depreciation of $38,393 and $28,270, respectively	46,333	39,292
Goodwill	444,850	444,850
Trade name and other intangible assets, net of accumulated amortization of $1,636 and $1,259, respectively	232,977	233,354
Other assets	2,385	2,520
Total assets	1,039,375	943,822
Current liabilities:
Current portion of long-term debt	5,077	5,018
Accounts payable	50,448	52,075
Income taxes payable	4,548	4,102
Accrued expenses	44,748	35,573
Total current liabilities	104,821	96,768
Revolving credit facility	0	0
Long-term debt	188,923	193,433
Deferred income taxes	89,224	87,171
Other long-term liabilities	5,146	4,501
Total liabilities	388,114	381,873
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; 60,756 and 58,807 shares issued, respectively	61	59
Additional paid-in capital	565,861	536,315
Retained earnings	85,425	25,661
Treasury - common stock, at cost; 9 shares	(86)	(86)
Total stockholders' equity	651,261	561,949
Total liabilities and stockholders' equity	$ 1,039,375	$ 943,822

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Jan. 28, 2017	Jan. 30, 2016
Assets
Property and equipment, accumulated depreciation	$ 38,393	$ 28,270
Trade name and other intangible assets, accumulated amortization	$ 1,636	$ 1,259
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)	60,756	58,807
Treasury - common stock (in shares)	9	9

Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands

3 Months Ended

12 Months Ended

Jan. 28, 2017

Oct. 29, 2016

Jul. 30, 2016

Apr. 30, 2016

Jan. 30, 2016

Oct. 31, 2015

Aug. 01, 2015

May 02, 2015

Jan. 28, 2017

Jan. 30, 2016

Jan. 31, 2015

Consolidated Statements of Income [Abstract]

Net sales

$ 283,355

$ 201,985

$ 211,256

$ 193,719

$ 243,402

$ 174,565

$ 181,933

$ 162,470

$ 890,315

$ 762,370

$ 637,975

Cost of sales

529,904

459,506

384,465

Gross profit

113,392

84,190

83,814

79,015

98,839

69,924

70,058

64,043

360,411

302,864

253,510

Selling, general and administrative expenses

242,891

209,783

178,832

Depreciation and amortization expenses

8,443

7,172

6,987

Pre-opening expenses

6,883

6,337

4,910

Operating income

102,194

79,572

62,781

Interest expense, net

5,935

15,416

18,432

Loss on extinguishment of debt

6,710

671

Income before income taxes

96,259

57,446

43,678

Income tax expense

36,495

21,607

16,763

Net income

$ 24,420

$ 10,461

$ 13,135

$ 11,748

$ 16,064

$ 6,762

$ 6,352

$ 6,661

$ 59,764

$ 35,839

$ 26,915

Earnings per common share:

Basic (in dollars per share)

$ 0.40

^[1]

$ 0.17

^[1]

$ 0.22

^[1]

$ 0.20

^[1]

$ 0.27

^[1]

$ 0.12

^[1]

$ 0.13

^[1]

$ 0.14

^[1]

$ 0.99

$ 0.67

$ 0.56

Diluted (in dollars per share)

$ 0.39

^[1]

$ 0.17

^[1]

$ 0.21

^[1]

$ 0.19

^[1]

$ 0.26

^[1]

$ 0.11

^[1]

$ 0.12

^[1]

$ 0.13

^[1]

$ 0.96

$ 0.64

$ 0.55

Weighted average common shares outstanding:

Basic (in shares)

60,160

53,835

48,202

Diluted (in shares)

62,415

55,796

48,609

[1]	The sum of the quarterly per share amounts may not equal per share amounts reported for the fiscal year end due to rounding.

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	Class A [Member]
Beginning balance at Feb. 01, 2014	$ 0	$ 48	$ 0	$ 423,668	$ 20,423	$ 444,139
Beginning balance (in shares) at Feb. 01, 2014	0	48,203,000	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 0	$ 0	$ 0	3,761	0	3,761
Dividend paid	0	0	0	(34,351)	(23,600)	(57,951)
Purchase of treasury stock	$ 0	$ 0	$ (29)	0	0	(29)
Purchase of treasury stock (in shares)	0	0	(3,000)				(2,875)
Net income	$ 0	$ 0	$ 0	0	26,915	26,915
Ending balance at Jan. 31, 2015	$ 0	$ 48	$ (29)	393,078	23,738	416,835
Ending 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)				(5,750)
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)

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Jan. 30, 2016	Jan. 31, 2015
Consolidated Statements of Stockholders' Equity [Abstract]
Dividend paid (in dollars per share)	$ 1.01	$ 1.20

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jan. 28, 2017	Jan. 30, 2016	Jan. 31, 2015
Cash flows from operating activities:
Net income	$ 59,764	$ 35,839	$ 26,915
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment	10,291	8,913	8,051
Amortization of debt issuance costs	746	1,273	1,471
Amortization of original issue discount	25	436	579
Loss on extinguishment of debt	0	6,710	671
Amortization of intangibles	377	428	734
Gain on disposal of assets	(4)	0	(14)
Deferred income tax provision (benefit)	1,867	(1,731)	(3,419)
Deferred rent expense	1,369	1,873	1,144
Stock-based compensation expense	6,685	5,035	3,761
Excess tax benefit related to exercises of stock options	(9,559)	(1,068)	0
Changes in operating assets and liabilities:
Inventories	(19,499)	(20,736)	(23,654)
Accounts receivable	(118)	135	21
Prepaid expenses and other assets	(1,264)	(730)	3,220
Accounts payable	(1,822)	1,543	13,113
Income taxes payable	10,005	468	(2,330)
Accrued expenses and other liabilities	8,225	7,460	1,579
Net cash provided by operating activities	67,088	45,848	31,842
Cash flows from investing activities:
Purchases of property and equipment	(16,438)	(14,203)	(14,110)
Acquisition of intangible assets	0	(157)	0
Proceeds from sale of property and equipment	15	23	103
Net cash used in investing activities	(16,423)	(14,337)	(14,007)
Cash flows from financing activities:
Borrowings on revolving credit facility	946,683	858,053	674,457
Repayments on revolving credit facility	(946,683)	(858,053)	(674,457)
Borrowings on term loan	0	200,000	59,592
Repayments on term loan and capital leases	(5,104)	(324,076)	(7,612)
Proceeds from issuance of common stock, net of expenses	0	149,806	0
Proceeds from stock option exercises	13,304	2,271	0
Excess tax benefit related to exercises of stock options	9,559	1,068	0
Payment of debt issuance costs	0	(3,368)	(2,049)
Payment of dividend	0	(48,848)	(57,951)
Purchase of treasury stock	0	(57)	(29)
Net cash provided by (used in) financing activities	17,759	(23,204)	(8,049)
Net increase in cash and cash equivalents	68,424	8,307	9,786
Cash and cash equivalents at the beginning of the period	30,259	21,952	12,166
Cash and cash equivalents at the end of the period	98,683	30,259	21,952
Cash paid during the period for:
Interest	5,179	13,829	19,867
Income taxes	24,859	22,824	22,703
Non-cash investing activities:
Accrued purchases of property and equipment	$ 1,009	$ 402	$ 437

Organization and Summary of Significant Accounting Policies

12 Months Ended

Jan. 28, 2017

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 234 Ollie’s Bargain Outlet retail locations as of January 28, 2017. Ollie’s Bargain Outlet retail locations are currently located in 19 states (Alabama, Connecticut, Delaware, Florida, Georgia, Indiana, Kentucky, Maryland, Michigan, Mississippi, 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 28, 2017 refer to the period from January 31, 2016 to January 28, 2017 (“fiscal year 2016”). References to the fiscal year ended January 30, 2016 refer to the period from February 1, 2015 to January 30, 2016 (“fiscal year 2015”). References to the fiscal year ended January 31, 2015 refer to the period from February 2, 2014 to January 31, 2015 (“fiscal year 2014”). Fiscal years 2016, 2015 and 2014 each include 52 weeks.

(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 shrink 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.

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. 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 goodwill. Fair value of the sole reporting unit for the most recent quantitative test was determined utilizing a combination of valuation methods including both the income approach (including a discounted cash flow analysis) and market approaches (including prior transaction method and comparable public company multiples). The fair value estimates utilized in the impairment testing reflect the use of Level 3 inputs. If the fair value of the reporting unit exceeds its carrying value, step two does not need to be performed. 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. For fiscal years 2016, 2015 and 2014, the Company completed a qualitative impairment test. Based upon the procedures described above, 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 nonamortizing intangible assets might be impaired. The Company’s nonamortizing intangible assets as of January 28, 2017 and January 30, 2016 consisted of a tradename. Entities have an option to perform a qualitative assessment to determine whether further impairment testing of nonamortizing 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. For fiscal years 2016, 2015 and 2014, the Company completed a qualitative impairment test. Based upon the procedures described above, no impairment of the tradename 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 its 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 upon 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. Excess tax benefits related to stock option exercises were reflected as financing cash inflows in fiscal years 2016, 2015 and 2014.

(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
	January 28, 2017			January 30, 2016			January 31, 2015
Beginning balance	$	247		$	247		$	207
Provisions		34,995			30,835			27,292
Sales returns		(34,903	)		(30,835	)		(27,252	)
Ending balance	$	339		$	247		$	247

(n)

Cost of Sales

Cost of sales includes merchandise cost, transportation costs, inventory markdowns, shrink, and distribution, warehousing, and storage costs.

(o)

Selling, General and Administrative Expenses

Selling, general and administrative expenses are comprised of payroll and benefits for stores, field support, and support center employees. Selling, general and administrative expenses also include marketing and advertising expense, occupancy costs for stores and the store support center, insurance, corporate infrastructure and other selling, general and administrative 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 charged to expense the first time the advertising occurs. Advertising expense for fiscal years 2016, 2015 and 2014 was $28.0 million, $25.8 million and $23.1 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 center, the Company recognizes rent expense in selling, general and administrative expenses. 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 selling, general and administrative expenses 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 January 28, 2017 and January 30, 2016, debt issuance costs, net of accumulated amortization, were $2.8 million and $3.6 million, respectively, and original issue discount, net of accumulated amortization, was $0.1 million for both periods. The amortization expense for debt issuance costs was $0.7 million, $1.3 million and $1.5 million, respectively, and the amortization expense for the original issue discount was $25,000, $0.4 million and $0.6 million, respectively, for fiscal years 2016, 2015 and 2014. 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 $0.0 million, $6.7 million and $0.7 million, respectively, for fiscal years 2016, 2015, and 2014.

(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. Ollie’s is self-insured for certain losses related to the company sponsored employee health insurance program. 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 years before 2012, 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
	January 28, 2017		January 30, 2016		January 31, 2015
Net income	$	59,764	$	35,839	$	26,915
Weighted average number of common shares outstanding – Basic		60,160		53,835		48,202
Incremental shares from the assumed exercise of outstanding stock options and vesting of restricted stock units		2,255		1,961		407
Weighted average number of common shares outstanding - Diluted		62,415		55,796		48,609
Earnings per common share – Basic	$	0.99	$	0.67	$	0.56
Earnings per common share - Diluted	$	0.96	$	0.64	$	0.55

Weighted average stock option shares totaling 81,616, 651,400 and 2,971,140 as of January 28, 2017, January 30, 2016, and January 31, 2015, 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. ASU 2014-09 will replace most existing revenue recognition guidance in GAAP when it becomes effective. The amendments in ASU 2014-09 were originally effective for reporting periods beginning after December 15, 2016, including interim periods within that reporting period, with early application not permitted. In July 2015, the FASB deferred the effective date of ASU 2014-09 for one year, while also permitting early application. With these changes, ASU 2014-09 will become effective for annual reporting periods (including interim periods within those periods) beginning after December 15, 2017, with adoption permitted as of the original effective date. ASU 2014-09 permits the use of either the retrospective or cumulative effect transition method. While the Company is still evaluating ASU 2014-09, at this time it is not expected that the adoption of ASU 2014-09 will have a material impact on the Company’s consolidated financial statements.

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, Stock Compensation, which is intended to simplify the accounting for share-based payment award transactions. The new standard will modify several aspects of the accounting and reporting for employee share-based payments and related tax accounting impacts, including the presentation in the statements of operations and cash flows of certain tax benefits or deficiencies and employee tax withholdings, as well as the accounting for award forfeitures over the vesting period. The guidance is effective for fiscal years beginning after December 15, 2016, including interim periods within that year, and will be adopted by the Company in the first quarter of fiscal 2017. The Company anticipates the new standard will result in an increase in the number of shares used in the calculation of diluted earnings per share and will add volatility to the Company’s effective tax rate and income tax expense. The magnitude of such impacts will depend in part on whether significant employee stock option exercises occur.

(x)

Reclassification

Certain prior-year amounts have been reclassified to conform to current-year presentation.

Property and Equipment

12 Months Ended

Jan. 28, 2017

Property and Equipment [Abstract]

Property and Equipment

(2)

Property and Equipment

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

	January 28, 2017			January 30, 2016
Land	$	1,601		$	—
Building		1,225			—
Furniture, fixtures, and equipment		71,621			58,713
Leasehold improvements		8,641			7,530
Automobiles		1,638			1,319
		84,726			67,562
Less accumulated depreciation		(38,393	)		(28,270	)
	$	46,333		$	39,292

Depreciation and amortization expense of property and equipment was $10.3 million, $8.9 million, and $8.1 million for fiscal years 2016, 2015, and 2014, respectively, of which $8.4 million, $7.2 million, and $7.0 million, respectively, is included in the depreciation and amortization expenses 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

Jan. 28, 2017

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):

	January 28, 2017			January 30, 2016
Non-amortizing intangible assets:
Goodwill	$	444,850		$	444,850
Tradename		230,559			230,559
Amortizing intangible assets:
Favorable leases		4,054			4,054
Accumulated amortization:
Favorable leases		(1,636	)		(1,259	)
	$	677,827		$	678,204

Amortization expense for fiscal years 2016 and 2015 was $0.4 million, which was charged to rent expense for favorable leases. Amortization expense for fiscal year 2014 was $0.7 million, which included amortization for favorable leases and the customer database. Estimated amortization expense of intangible assets during the next five fiscal years and thereafter is shown below (in thousands):

Fiscal year ending:
February 3, 2018	$	338
February 2, 2019		335
February 1, 2020		310
January 30, 2021		281
January 29, 2022		237
Thereafter		917
Total remaining amortization	$	2,418

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 8.7 and 9.4 years as of January 28, 2017 and January 30, 2016, 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

Jan. 28, 2017

Accrued Expenses [Abstract]

Accrued Expenses

(4)

Accrued Expenses

Accrued expenses consist of the following (in thousands):

	January 28, 2017		January 30, 2016
Compensation and benefits	$	12,136	$	10,775
Advertising		5,594		3,519
Freight		5,429		3,620
Real estate related		3,464		2,659
Insurance		3,418		2,605
Sales and use taxes		2,564		2,278
Other		12,143		10,117
	$	44,748	$	35,573

Debt Obligations and Financing Arrangements

12 Months Ended

Jan. 28, 2017

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):

	January 28, 2017			January 30, 2016
Term loan	$	193,740		$	198,385
Capital lease		260			66
Total debt		194,000			198,451
Less: current portion		(5,077	)		(5,018	)
Long-term debt	$	188,923		$	193,433

As of January 28, 2017, the scheduled principal payments of debt are as follows (in thousands):

Fiscal year ending:
February 3, 2018	$	5,077
February 2, 2019		10,091
February 1, 2020		10,091
January 30, 2021		170,000
Total cash principal payments		195,259
Less: Unamortized original issue discount		(87	)
Less: Unamortized term loan deferred financing fees		(1,172	)
Total cash principal payments, net	$	194,000

On September 28, 2012, the Company entered into two credit agreements with a total value of $300.0 million. The $300.0 million was comprised of a $75.0 million revolving credit facility (“Revolving Credit Facility”) and a $225.0 million term loan (“Term Loan”). On February 26, 2013, the Company entered into a First Amendment to the Term Loan which allowed the Company to borrow an additional principal amount of $50.0 million.

On April 11, 2014, the Company entered into a Second Amendment to the Term Loan (“Amended 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 in loss on extinguishment of debt.

On May 27, 2015, the Company amended the Term Loan and Revolving Credit Facility (collectively the “Senior Secured Credit Facilities”) 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 Amended Term Loan using proceeds from the 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 selling, general and administrative expenses. 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 January 28, 2017, the interest rate on the outstanding borrowings under the New Term Loan Facility was 1.75% plus the 30-day Eurodollar Rate, or 2.53%.

The New Term Loan Facility is subject to amortization with principal payable in quarterly installments of $1.25 million, to be made on the last business day of each fiscal quarter prior to maturity, which commenced on April 29, 2016. The quarterly installment payments increase after fiscal year ending February 3, 2018 to $2.5 million. The remaining initial aggregate advances under the New Term Loan Facility are payable at maturity.

As of January 28, 2017 and January 30, 2016, the amounts outstanding under the New Term Loan Facility are net of unamortized original issue discount of $0.1 million and deferred financing fees of $1.2 million and $1.5 million, respectively.

Under the terms of the New Revolving Credit Facility, as of January 28, 2017, 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 January 28, 2017, Ollie’s had $195.0 million of outstanding borrowings on the New Term Loan Facility and no outstanding borrowings under the New Revolving Credit Facility, with $98.8 million of borrowing availability, letter of credit commitments of $1.0 million and $0.2 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, $0.4 million and $0.2 million for fiscal years 2016, 2015 and 2014, 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 January 28, 2017.

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 January 28, 2017, 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

Jan. 28, 2017

Income Taxes [Abstract]

Income Taxes

(6)

Income Taxes

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

	Fiscal year ended
	January 28, 2017		January 30, 2016			January 31, 2015
Current:
Federal	$	29,280	$	19,625		$	16,760
State		5,348		3,713			3,422
		34,628		23,338			20,182
Deferred:
Federal		1,829		(849	)		(2,114	)
State		38		(882	)		(1,305	)
		1,867		(1,731	)		(3,419	)
Income tax expense	$	36,495	$	21,607		$	16,763

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

	Fiscal year ended
	January 28, 2017			January 30, 2016			January 31, 2015
Statutory federal rate		35.0	%		35.0	%		35.0	%
State taxes, net of federal benefit		3.6			3.2			3.2
Other		(0.7	)		(0.6	)		0.2
		37.9	%		37.6	%		38.4	%

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):

	January 28, 2017			January 30, 2016
Deferred tax assets:
Inventory reserves	$	1,378		$	1,236
Deferred rent		2,343			1,815
Stock-based compensation		4,783			4,753
Other		2,048			3,918
Total deferred tax assets		10,552			11,722
Deferred tax liabilities:
Tradename		(89,520	)		(89,669	)
Depreciation		(9,345	)		(8,217	)
Leases		(911	)		(1,007	)
Total deferred tax liabilities		(99,776	)		(98,893	)
Net deferred tax liabilities	$	(89,224	)	$	(87,171	)

In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities (including the impact of available carryback and carryforward periods), projected future taxable income, and tax-planning strategies in making this assessment. Based upon the level of historical taxable income and projections for future taxable income 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 January 28, 2017 and January 30, 2016.

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 January 28, 2017 or January 30, 2016, and has not recognized any material uncertain tax positions or interest or penalties related to income taxes in the consolidated statements of income for fiscal years 2016, 2015, or 2014.

Commitments and Contingencies

12 Months Ended

Jan. 28, 2017

Commitments and Contingencies [Abstract]

Commitments and Contingencies

(7)

Commitments and Contingencies

Other than one store location, which is owned, Ollie’s leases its stores, office, 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
	January 28, 2017		January 30, 2016		January 31, 2015
Minimum annual rentals	$	36,970	$	32,263	$	28,707
Contingent rentals		110		123		78
	$	37,080	$	32,386	$	28,785

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 January 28, 2017 (in thousands):

Fiscal year ending:
February 3, 2018	$	44,664
February 2, 2019		42,741
February 1, 2020		38,209
January 30, 2021		32,489
January 29, 2022		25,226
Thereafter		55,008
Total minimum lease payments	$	238,337

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

Jan. 28, 2017

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 (see Note 10), 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 Company uses authorized and unissued shares to satisfy share award exercises. As of January 28, 2017, there were 4,146,545 shares available for grant under the 2015 Plan.

Stock Options

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.

A summary of the Company’s stock option activity and related information follows for fiscal years 2014, 2015 and 2016 (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 February 1, 2014		5,279,075		$	6.48
Granted		920,000			7.68
Forfeited		(188,600	)		6.57
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		6.8	$	107,028
Exercisable at January 28, 2017		2,924,654			7.32		6.1	$	64,442

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

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 is 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 fiscal years 2016, 2015 and 2014 was $6.47, $5.05 and $3.57, 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
	January 28, 2017			January 30, 2016			January 31, 2015
Risk-free interest rate		1.72	%		1.99	%		2.22	%
Expected dividend yield		—			—			—
Expected life (years)	6.25 years			6.25 years			6.5 years
Expected volatility		28.52	%		31.56	%		34.80	%

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 three or 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 fiscal year 2016 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

Stock Based Compensation Expense

The compensation cost for stock options and RSUs which has been recorded within selling, general and administrative expenses related to the Company’s equity incentive plans was $6.7 million, $5.0 million and $3.8 million for fiscal years 2016, 2015 and 2014, respectively. The Company recognized $2.5 million, $1.9 million and $1.4 million in income tax benefit for fiscal years 2016, 2015 and 2014, respectively, in the consolidated statements of income for stock-based award compensation.

As of January 28, 2017, there was $12.6 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.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References + Details

Employee Benefit Plans

12 Months Ended

Jan. 28, 2017

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 for fiscal years 2016, 2015 and 2014.

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 for fiscal years 2016 and 2015. Discretionary contributions were $0.3 million for fiscal year 2014.

Common Stock

12 Months Ended

Jan. 28, 2017

Common Stock [Abstract]

Common Stock

(10)

Common Stock

Stockholders Agreement

The Company and its shareholders have entered into a Stockholders Agreement dated September 28, 2012, which provides for, among others, certain covenants and conditions, information, first refusal, take along, come along and rights of participation.

Initial Public Offering

In connection with the Company’s July 15, 2015 IPO, the Company amended its existing Stockholders Agreement, in which a number of provisions, including provisions relating to the election of directors and certain transfer restrictions, were automatically terminated. 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 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 selling, general and administrative expenses in the consolidated statement of income for fiscal year 2016.

On June 6, 2016, the Company completed a secondary offering 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 selling, general and administrative expenses in the consolidated statement of income for fiscal year 2016.

On September 6, 2016, the Company completed a secondary offering 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 selling, general and administrative expenses in the consolidated statement of income for fiscal year 2016.

Treasury Shares

During fiscal years 2015 and 2014, the Company repurchased 5,750 and 2,875 Class A common stock shares, respectively, 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 fiscal year 2016.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 4
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Transactions with Affiliates and Related Parties

12 Months Ended

Jan. 28, 2017

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 $1.3 million for the next five years and the total remaining payments after the next five years are $3.2 million.

During fiscal years 2016, 2015 and 2014, the Company paid $0.1 million, $0.2 million and $0.2 million, respectively, for the use of an airplane owned by a related party.

Segment Reporting

12 Months Ended

Jan. 28, 2017

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
	January 28, 2017			January 30, 2016			January 31, 2015
Sales by merchandise category:
Housewares		12.7	%		13.1	%		14.7	%
Food		12.7			13.2			12.5
Books and stationery		10.6			11.5			10.9
Bed and bath		10.1			10.1			10.1
Floor coverings		8.0			8.6			9.6
Electronics		6.7			5.6			4.5
Toys		5.2			4.9			5.1
Other		34.0			33.0			32.6
		100.0	%		100.0	%		100.0	%

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Quarterly Results of Operations and Seasonality (Unaudited)

12 Months Ended

Jan. 28, 2017

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

Quarterly Results of Operations and Seasonality (Unaudited)

(13)

Quarterly Results of Operations and Seasonality (Unaudited)

Quarterly financial results for fiscal years 2016 and 2015 were as follows (in thousands, except for per share data):

	Fiscal Year 2016 (1)								Fiscal Year 2015 (1)
	Fourth Quarter		Third Quarter		Second Quarter		First Quarter		Fourth Quarter		Third Quarter		Second Quarter		First Quarter
Net sales	$	283,355	$	201,985	$	211,256	$	193,719	$	243,402	$	174,565	$	181,933	$	162,470
Gross profit		113,392		84,190		83,814		79,015		98,839		69,924		70,058		64,043
Net income		24,420		10,461		13,135		11,748		16,064		6,762		6,352		6,661
Basic earnings per common share	$	0.40	$	0.17	$	0.22	$	0.20	$	0.27	$	0.12	$	0.13	$	0.14
Diluted earnings per common share	$	0.39	$	0.17	$	0.21	$	0.19	$	0.26	$	0.11	$	0.12	$	0.13

(1)

The sum of the quarterly per share amounts may not equal per share amounts reported for the fiscal year end due to rounding.

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.

Subsequent Event

12 Months Ended

Jan. 28, 2017

Subsequent Event [Abstract]

Subsequent Event

(14)

Subsequent Event

On March 23, 2017, the Company paid down $40.0 million on its New Term Loan Facility using existing cash.

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

12 Months Ended

Jan. 28, 2017

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)

	January 28, 2017			January 30, 2016
Assets
Total current assets	$	—		$	—
Long-term assets:
Investment in subsidiaries		651,261			561,949
Total assets	$	651,261		$	561,949

Liabilities and stockholders’ equity
Total current liabilities	$	—		$	—
Total long-term liabilities		—			—
Total liabilities		—			—
Stockholders’ equity:
Common stock		61			59
Additional paid-in capital		565,861			536,315
Retained earnings		85,425			25,661
Treasury stock, at cost		(86	)		(86	)
Total stockholders’ equity		651,261			561,949
Total liabilities and stockholders’ equity	$	651,261		$	561,949

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
	January 28, 2017		January 30, 2016		January 31, 2015
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		59,764		35,839		26,915
Net income	$	59,764	$	35,839	$	26,915

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 fiscal years 2016, 2015, or 2014.

2. Guarantees and restrictions

Ollie’s Bargain Outlet, Inc., a subsidiary of the Company, had $195.0 million outstanding under the New Term Loan Facility as of January 28, 2017. 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 January 28, 2017, Ollie’s Bargain Outlet, Inc. also had $98.8 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 January 28, 2017.

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 January 28, 2017, 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

Jan. 28, 2017

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

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
	January 28, 2017			January 30, 2016			January 31, 2015
Beginning balance	$	247		$	247		$	207
Provisions		34,995			30,835			27,292
Sales returns		(34,903	)		(30,835	)		(27,252	)
Ending balance	$	339		$	247		$	247

Cost of Sales

(n)

Cost of Sales

Cost of sales includes merchandise cost, transportation costs, inventory markdowns, shrink, and distribution, warehousing, and storage costs.

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
	January 28, 2017		January 30, 2016		January 31, 2015
Net income	$	59,764	$	35,839	$	26,915
Weighted average number of common shares outstanding – Basic		60,160		53,835		48,202
Incremental shares from the assumed exercise of outstanding stock options and vesting of restricted stock units		2,255		1,961		407
Weighted average number of common shares outstanding - Diluted		62,415		55,796		48,609
Earnings per common share – Basic	$	0.99	$	0.67	$	0.56
Earnings per common share - Diluted	$	0.96	$	0.64	$	0.55

Recent Accounting Pronouncements

(w)

Recent Accounting Pronouncements

Revenue

Leases

Stock Compensation

Reclassification

(x)

Reclassification

Certain prior-year amounts have been reclassified to conform to current-year presentation.

Organization and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jan. 28, 2017

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
	January 28, 2017			January 30, 2016			January 31, 2015
Beginning balance	$	247		$	247		$	207
Provisions		34,995			30,835			27,292
Sales returns		(34,903	)		(30,835	)		(27,252	)
Ending balance	$	339		$	247		$	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
	January 28, 2017		January 30, 2016		January 31, 2015
Net income	$	59,764	$	35,839	$	26,915
Weighted average number of common shares outstanding – Basic		60,160		53,835		48,202
Incremental shares from the assumed exercise of outstanding stock options and vesting of restricted stock units		2,255		1,961		407
Weighted average number of common shares outstanding - Diluted		62,415		55,796		48,609
Earnings per common share – Basic	$	0.99	$	0.67	$	0.56
Earnings per common share - Diluted	$	0.96	$	0.64	$	0.55

Property and Equipment (Tables)

12 Months Ended

Jan. 28, 2017

Property and Equipment [Abstract]

Property and Equipment

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

	January 28, 2017			January 30, 2016
Land	$	1,601		$	—
Building		1,225			—
Furniture, fixtures, and equipment		71,621			58,713
Leasehold improvements		8,641			7,530
Automobiles		1,638			1,319
		84,726			67,562
Less accumulated depreciation		(38,393	)		(28,270	)
	$	46,333		$	39,292

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Jan. 28, 2017

Goodwill and Other Intangible Assets [Abstract]

Goodwill and Other Intangible Assets

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

	January 28, 2017			January 30, 2016
Non-amortizing intangible assets:
Goodwill	$	444,850		$	444,850
Tradename		230,559			230,559
Amortizing intangible assets:
Favorable leases		4,054			4,054
Accumulated amortization:
Favorable leases		(1,636	)		(1,259	)
	$	677,827		$	678,204

Estimated Amortization Expense of Intangible Assets

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

Fiscal year ending:
February 3, 2018	$	338
February 2, 2019		335
February 1, 2020		310
January 30, 2021		281
January 29, 2022		237
Thereafter		917
Total remaining amortization	$	2,418

Accrued Expenses (Tables)

12 Months Ended

Jan. 28, 2017

Accrued Expenses [Abstract]

Accrued Expenses

Accrued expenses consist of the following (in thousands):

	January 28, 2017		January 30, 2016
Compensation and benefits	$	12,136	$	10,775
Advertising		5,594		3,519
Freight		5,429		3,620
Real estate related		3,464		2,659
Insurance		3,418		2,605
Sales and use taxes		2,564		2,278
Other		12,143		10,117
	$	44,748	$	35,573

Debt Obligations and Financing Arrangements (Tables)

12 Months Ended

Jan. 28, 2017

Debt Obligations and Financing Arrangements [Abstract]

Long-term Debt

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

	January 28, 2017			January 30, 2016
Term loan	$	193,740		$	198,385
Capital lease		260			66
Total debt		194,000			198,451
Less: current portion		(5,077	)		(5,018	)
Long-term debt	$	188,923		$	193,433

Scheduled Principal Payments of Debt

As of January 28, 2017, the scheduled principal payments of debt are as follows (in thousands):

Fiscal year ending:
February 3, 2018	$	5,077
February 2, 2019		10,091
February 1, 2020		10,091
January 30, 2021		170,000
Total cash principal payments		195,259
Less: Unamortized original issue discount		(87	)
Less: Unamortized term loan deferred financing fees		(1,172	)
Total cash principal payments, net	$	194,000

- 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=6928386&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=6479336&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=6928386&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=6928386&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=6928386&loc=d3e21521-112644

+ Details

Income Taxes (Tables)

12 Months Ended

Jan. 28, 2017

Income Taxes [Abstract]

Components of Income Tax Provision (Benefit)

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

	Fiscal year ended
	January 28, 2017		January 30, 2016			January 31, 2015
Current:
Federal	$	29,280	$	19,625		$	16,760
State		5,348		3,713			3,422
		34,628		23,338			20,182
Deferred:
Federal		1,829		(849	)		(2,114	)
State		38		(882	)		(1,305	)
		1,867		(1,731	)		(3,419	)
Income tax expense	$	36,495	$	21,607		$	16,763

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
	January 28, 2017			January 30, 2016			January 31, 2015
Statutory federal rate		35.0	%		35.0	%		35.0	%
State taxes, net of federal benefit		3.6			3.2			3.2
Other		(0.7	)		(0.6	)		0.2
		37.9	%		37.6	%		38.4	%

Deferred Tax Assets and Liabilities

	January 28, 2017			January 30, 2016
Deferred tax assets:
Inventory reserves	$	1,378		$	1,236
Deferred rent		2,343			1,815
Stock-based compensation		4,783			4,753
Other		2,048			3,918
Total deferred tax assets		10,552			11,722
Deferred tax liabilities:
Tradename		(89,520	)		(89,669	)
Depreciation		(9,345	)		(8,217	)
Leases		(911	)		(1,007	)
Total deferred tax liabilities		(99,776	)		(98,893	)
Net deferred tax liabilities	$	(89,224	)	$	(87,171	)

Commitments and Contingencies (Tables)

12 Months Ended

Jan. 28, 2017

Commitments and Contingencies [Abstract]

Rent Expense on Operating Leases

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

	Fiscal year ended
	January 28, 2017		January 30, 2016		January 31, 2015
Minimum annual rentals	$	36,970	$	32,263	$	28,707
Contingent rentals		110		123		78
	$	37,080	$	32,386	$	28,785

Future Minimum Rental Payments Required under Non-cancelable Operating Leases

Fiscal year ending:
February 3, 2018	$	44,664
February 2, 2019		42,741
February 1, 2020		38,209
January 30, 2021		32,489
January 29, 2022		25,226
Thereafter		55,008
Total minimum lease payments	$	238,337

Equity Incentive Plan (Tables)

12 Months Ended

Jan. 28, 2017

Equity Incentive Plan [Abstract]

Stock Option Activity

A summary of the Company’s stock option activity and related information follows for fiscal years 2014, 2015 and 2016 (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 February 1, 2014		5,279,075		$	6.48
Granted		920,000			7.68
Forfeited		(188,600	)		6.57
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		6.8	$	107,028
Exercisable at January 28, 2017		2,924,654			7.32		6.1	$	64,442

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
	January 28, 2017			January 30, 2016			January 31, 2015
Risk-free interest rate		1.72	%		1.99	%		2.22	%
Expected dividend yield		—			—			—
Expected life (years)	6.25 years			6.25 years			6.5 years
Expected volatility		28.52	%		31.56	%		34.80	%

RSU Activity

A summary of the Company’s RSU activity and related information for fiscal year 2016 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

Segment Reporting (Tables)

12 Months Ended

Jan. 28, 2017

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
	January 28, 2017			January 30, 2016			January 31, 2015
Sales by merchandise category:
Housewares		12.7	%		13.1	%		14.7	%
Food		12.7			13.2			12.5
Books and stationery		10.6			11.5			10.9
Bed and bath		10.1			10.1			10.1
Floor coverings		8.0			8.6			9.6
Electronics		6.7			5.6			4.5
Toys		5.2			4.9			5.1
Other		34.0			33.0			32.6
		100.0	%		100.0	%		100.0	%

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

12 Months Ended

Jan. 28, 2017

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

Quarterly Results of Operations

Quarterly financial results for fiscal years 2016 and 2015 were as follows (in thousands, except for per share data):

	Fiscal Year 2016 (1)								Fiscal Year 2015 (1)
	Fourth Quarter		Third Quarter		Second Quarter		First Quarter		Fourth Quarter		Third Quarter		Second Quarter		First Quarter
Net sales	$	283,355	$	201,985	$	211,256	$	193,719	$	243,402	$	174,565	$	181,933	$	162,470
Gross profit		113,392		84,190		83,814		79,015		98,839		69,924		70,058		64,043
Net income		24,420		10,461		13,135		11,748		16,064		6,762		6,352		6,661
Basic earnings per common share	$	0.40	$	0.17	$	0.22	$	0.20	$	0.27	$	0.12	$	0.13	$	0.14
Diluted earnings per common share	$	0.39	$	0.17	$	0.21	$	0.19	$	0.26	$	0.11	$	0.12	$	0.13

(1)

The sum of the quarterly per share amounts may not equal per share amounts reported for the fiscal year end due to rounding.

Organization and Summary of Significant Accounting Policies, Description of Business (Details)	Jan. 28, 2017 Store State
Organization and Summary of Significant Accounting Policies [Abstract]
Number of retail locations \| Store	234
Number of states in which retail locations are located \| State	19

Organization and Summary of Significant Accounting Policies, Property and Equipment (Details)	12 Months Ended
	Jan. 28, 2017
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
	Jan. 28, 2017	Jan. 30, 2016	Jan. 31, 2015
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
	Jan. 28, 2017	Jan. 30, 2016	Jan. 31, 2015
Revenue Recognition [Abstract]
Beginning balance	$ 247	$ 247	$ 207
Provisions	34,995	30,835	27,292
Sales returns	(34,903)	(30,835)	(27,252)
Ending balance	$ 339	$ 247	$ 247

Organization and Summary of Significant Accounting Policies, Advertising Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2017	Jan. 30, 2016	Jan. 31, 2015
Advertising Expense [Abstract]
Advertising expense	$ 28.0	$ 25.8	$ 23.1

Organization and Summary of Significant Accounting Policies, Operating Leases (Details)	Jan. 28, 2017 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
	Jan. 28, 2017	Jan. 30, 2016	Jan. 31, 2015
Debt Issuance Costs and Original Issue Discount [Abstract]
Debt issuance costs, net of accumulated amortization	$ 2,800	$ 3,600
Original issue discount, net of accumulated amortization	100	100
Amortization of debt issuance costs	746	1,273	$ 1,471
Amortization of original issue discount	25	436	579
Loss on extinguishment of debt	$ 0	$ (6,710)	$ (671)

Organization and Summary of Significant Accounting Policies, Income Taxes (Details) - State [Member]	12 Months Ended
	Jan. 28, 2017
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

Jan. 28, 2017

Oct. 29, 2016

Jul. 30, 2016

Apr. 30, 2016

Jan. 30, 2016

Oct. 31, 2015

Aug. 01, 2015

May 02, 2015

Jan. 28, 2017

Jan. 30, 2016

Jan. 31, 2015

Earnings Per Common Share [Abstract]

Net income

$ 24,420

$ 10,461

$ 13,135

$ 11,748

$ 16,064

$ 6,762

$ 6,352

$ 6,661

$ 59,764

$ 35,839

$ 26,915

Weighted average number of common shares outstanding - Basic (in shares)

60,160,000

53,835,000

48,202,000

Incremental shares from the assumed exercise of outstanding stock options and vesting of restricted stock units (in shares)

2,255,000

1,961,000

407,000

Weighted average number of common shares outstanding - Diluted (in shares)

62,415,000

55,796,000

48,609,000

Earnings per common share - Basic (in dollars per share)

$ 0.40

^[1]

$ 0.17

^[1]

$ 0.22

^[1]

$ 0.20

^[1]

$ 0.27

^[1]

$ 0.12

^[1]

$ 0.13

^[1]

$ 0.14

^[1]

$ 0.99

$ 0.67

$ 0.56

Earnings per common share - Diluted (in dollars per share)

$ 0.39

^[1]

$ 0.17

^[1]

$ 0.21

^[1]

$ 0.19

^[1]

$ 0.26

^[1]

$ 0.11

^[1]

$ 0.12

^[1]

$ 0.13

^[1]

$ 0.96

$ 0.64

$ 0.55

Stock Options [Member]

Earnings per Common Share [Abstract]

Antidilutive securities excluded from computation of earnings per share (in shares)

81,616

651,400

2,971,140

[1]	The sum of the quarterly per share amounts may not equal per share amounts reported for the fiscal year end due to rounding.

Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Jan. 28, 2017	Jan. 30, 2016	Jan. 31, 2015
Property and Equipment [Abstract]
Property and equipment	$ 84,726	$ 67,562
Less accumulated depreciation	(38,393)	(28,270)
Property and equipment, net	46,333	39,292
Depreciation and amortization of property and equipment	10,291	8,913	$ 8,051
Depreciation and amortization expenses	8,443	7,172	$ 6,987
Land [Member]
Property and Equipment [Abstract]
Property and equipment	1,601	0
Building [Member]
Property and Equipment [Abstract]
Property and equipment	1,225	0
Furniture, Fixtures, and Equipment [Member]
Property and Equipment [Abstract]
Property and equipment	71,621	58,713
Leasehold Improvements [Member]
Property and Equipment [Abstract]
Property and equipment	8,641	7,530
Automobiles [Member]
Property and Equipment [Abstract]
Property and equipment	$ 1,638	$ 1,319

Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	Jan. 28, 2017	Jan. 30, 2016
Non-amortizing Intangible Assets [Abstract]
Goodwill	$ 444,850	$ 444,850
Amortizing Intangible Assets [Abstract]
Accumulated amortization	(1,636)	(1,259)
Goodwill and Other Intangible Assets [Abstract]
Goodwill and other intangible assets, net	677,827	678,204
Tradename [Member]
Non-amortizing Intangible Assets [Abstract]
Non-amortizing intangible asset	230,559	230,559
Favorable Leases [Member]
Amortizing Intangible Assets [Abstract]
Amortizing intangible assets	4,054	4,054
Accumulated amortization	$ (1,636)	$ (1,259)

Goodwill and Other Intangible Assets, Amortization Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 28, 2017	Jan. 30, 2016	Jan. 31, 2015
Amortizing Intangible Assets [Abstract]
Amortization expense	$ 377	$ 428	$ 734
Estimated Amortization Expense of Intangible Assets [Abstract]
February 3, 2018	338
February 2, 2019	335
February 1, 2020	310
January 30, 2021	281
January 29, 2022	237
Thereafter	917
Total remaining amortization	2,418
Favorable Leases [Member]
Amortizing Intangible Assets [Abstract]
Amortization expense	$ 400	$ 400
Weighted average remaining life	8 years 8 months 12 days	9 years 4 months 24 days

Accrued Expenses (Details) - USD ($) $ in Thousands	Jan. 28, 2017	Jan. 30, 2016
Accrued Expenses [Abstract]
Compensation and benefits	$ 12,136	$ 10,775
Advertising	5,594	3,519
Freight	5,429	3,620
Real estate related	3,464	2,659
Insurance	3,418	2,605
Sales and use taxes	2,564	2,278
Other	12,143	10,117
Total accrued expenses	$ 44,748	$ 35,573

Debt Obligations and Financing Arrangements, Long-term Debt (Details) - USD ($) $ in Thousands	Jan. 28, 2017	Jan. 30, 2016
Debt Obligations and Financing Arrangements [Abstract]
Term loan	$ 193,740	$ 198,385
Capital lease	260	66
Total debt	194,000	198,451
Less: current portion	(5,077)	(5,018)
Long-term debt	$ 188,923	$ 193,433

Debt Obligations and Financing Arrangements, Scheduled Principal Payments of Debt (Details) - USD ($) $ in Thousands	Jan. 28, 2017	Jan. 30, 2016
Fiscal Year Ending [Abstract]
February 3, 2018	$ 5,077
February 2, 2019	10,091
February 1, 2020	10,091
January 30, 2021	170,000
Total cash principal payments	195,259
Less: Unamortized original issue discount	(100)	$ (100)
Less: Unamortized term loan deferred financing fees	(2,800)	(3,600)
Total debt	194,000	198,451
New Term Loan Facility [Member]
Fiscal Year Ending [Abstract]
Total cash principal payments	195,000
Less: Unamortized original issue discount	(87)	(100)
Less: Unamortized term loan deferred financing fees	$ (1,172)	$ (1,500)

Debt Obligations and Financing Arrangements, Senior Secured Credit Facilities - (Details) $ in Thousands						1 Months Ended	12 Months Ended
	Jan. 29, 2016 USD ($)	May 27, 2015 USD ($)	Apr. 11, 2014 USD ($)	Feb. 26, 2013 USD ($)	Sep. 28, 2012 USD ($) Agreement	Jul. 31, 2015 USD ($)	Jan. 28, 2017 USD ($)	Jan. 30, 2016 USD ($)	Jan. 31, 2015 USD ($)
Debt Obligations and Financing Arrangements [Abstract]
Borrowings on term loan							$ 0	$ 200,000	$ 59,592
Cash dividend to common shareholders		$ 48,848	$ 57,951					48,848	57,951
Retained earnings		0	0				85,425	25,661
Financing fees incurred							0	3,368	2,049
Borrowings on revolving credit facility							946,683	858,053	674,457
Repayments on revolving credit facility							$ 946,683	858,053	674,457
Retained Earnings [Member]
Debt Obligations and Financing Arrangements [Abstract]
Cash dividend to common shareholders		33,916	23,600					33,916	23,600
Additional Paid-in Capital [Member]
Debt Obligations and Financing Arrangements [Abstract]
Cash dividend to common shareholders		14,932	34,351					$ 14,932	$ 34,351
Senior Secured Credit Facilities [Member]
Debt Obligations and Financing Arrangements [Abstract]
Number of credit agreements \| Agreement					2
Total value of credit agreements					$ 300,000
Debt issuance costs written off	$ 2,900					$ 1,500
Original issue discount written off	$ 1,400					800
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
Term Loan [Member]
Debt Obligations and Financing Arrangements [Abstract]
Face amount					$ 225,000
First Amendment to Term Loan [Member]
Debt Obligations and Financing Arrangements [Abstract]
Borrowings on term loan				$ 50,000
Amended Term Loan [Member]
Debt Obligations and Financing Arrangements [Abstract]
Borrowings on term loan			60,000
Financing fees incurred			2,000
Financing fees deferred			1,300
Original issue discount recorded			400
Debt issuance costs written off			400
Original issue discount written off			200
Repayments on term loan						$ 103,100
Amended Term Loan [Member] \| Selling, General and Administrative Expenses [Member]
Debt Obligations and Financing Arrangements [Abstract]
Financing fees expensed			$ 300

Debt Obligations and Financing Arrangements, New Credit Facilities (Details) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
	Jan. 29, 2016	Jul. 31, 2015	Jan. 28, 2017	Jan. 30, 2016	Jan. 31, 2015
Debt Obligations and Financing Arrangements [Abstract]
Financing fees incurred			$ 0	$ 3,368	$ 2,049
Unamortized original issue discount			100	100
Deferred financing fees			2,800	3,600
Outstanding borrowings			195,259
Unused line fees			$ 300	400	$ 200
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			2.53%
Unamortized original issue discount			$ 87	100
Deferred financing fees			1,172	$ 1,500
Outstanding borrowings			$ 195,000
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 Ended 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			98,800
Letter of credit commitments			1,000
Rent reserves			$ 200
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	12 Months Ended
	Jan. 28, 2017	Jan. 30, 2016	Jan. 31, 2015
Current [Abstract]
Federal	$ 29,280	$ 19,625	$ 16,760
State	5,348	3,713	3,422
Current income tax expense (benefit)	34,628	23,338	20,182
Deferred [Abstract]
Federal	1,829	(849)	(2,114)
State	38	(882)	(1,305)
Deferred income tax expense (benefit)	1,867	(1,731)	(3,419)
Income tax expense	$ 36,495	$ 21,607	$ 16,763

Income Taxes, Reconciliation of Effective Income Tax Rate (Details)	12 Months Ended
	Jan. 28, 2017	Jan. 30, 2016	Jan. 31, 2015
Reconciliation of Effective Income Tax Rate [Abstract]
Statutory federal rate	35.00%	35.00%	35.00%
State taxes, net of federal benefit	3.60%	3.20%	3.20%
Other	(0.70%)	(0.60%)	0.20%
Effective income tax rate	37.90%	37.60%	38.40%

Income Taxes, Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 28, 2017	Jan. 30, 2016	Jan. 31, 2015
Deferred Tax Assets [Abstract]
Inventory reserves	$ 1,378	$ 1,236
Deferred rent	2,343	1,815
Stock-based compensation	4,783	4,753
Other	2,048	3,918
Total deferred tax assets	10,552	11,722
Deferred Tax Liabilities [Abstract]
Tradename	(89,520)	(89,669)
Depreciation	(9,345)	(8,217)
Leases	(911)	(1,007)
Total deferred tax liabilities	(99,776)	(98,893)
Net deferred tax liabilities	(89,224)	(87,171)
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
	Jan. 28, 2017 USD ($) Store	Jan. 30, 2016 USD ($)	Jan. 31, 2015 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	$ 36,970	$ 32,263	$ 28,707
Contingent rentals	110	123	78
Total rent expense on operating leases	$ 37,080	$ 32,386	$ 28,785

- 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	Jan. 28, 2017 USD ($)
Future Minimum Rental Payments Required under Non-cancelable Operating Leases [Abstract]
Year ending February 3, 2018	$ 44,664
Year ending February 2, 2019	42,741
Year ending February 1, 2020	38,209
Year ending January 30, 2021	32,489
Year ending January 29, 2022	25,226
Thereafter	55,008
Total minimum lease payments	$ 238,337

Equity Incentive Plan, Equity Incentive Plan (Details)	12 Months Ended
Equity Incentive Plan, Equity Incentive Plan (Details)	Jan. 28, 2017 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]
Vesting percentage	25.00%
Expiration period	10 years
Number of shares authorized for issuance (in shares)	5,250,000
Number of shares available for grant (in shares)	4,146,545
2015 Plan [Member] \| Stock Options [Member]
Equity Incentive Plans [Abstract]
Vesting period	4 years

Equity Incentive Plan, Stock Option Activity (Details) - Stock Options [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jan. 28, 2017	Jan. 30, 2016	Jan. 31, 2015
Number of Options [Roll Forward]
Outstanding at beginning of period (in shares)	6,991,825	6,010,475	5,279,075
Granted (in shares)	518,277	1,403,500	920,000
Forfeited (in shares)	(135,390)	(82,500)	(188,600)
Exercised (in shares)	(1,948,752)	(339,650)
Outstanding at end of period (in shares)	5,425,960	6,991,825	6,010,475
Exercisable at end of period (in shares)	2,924,654
Weighted Average Exercise Price [Abstract]
Outstanding at beginning of period (in dollars per share)	$ 8.04	$ 6.66	$ 6.48
Granted (in dollars per share)	20.37	13.61	7.68
Forfeited (in dollars per share)	9.09	7.91	6.57
Exercised (in dollars per share)	6.83	6.69
Outstanding at end of period (in dollars per share)	9.62	$ 8.04	$ 6.66
Exercisable at end of period (in dollars per share)	$ 7.32
Weighted Average Remaining Contractual Term and Aggregate Intrinsic Value [Abstract]
Weighted average remaining contractual term, outstanding at end of period	6 years 9 months 18 days
Weighted average remaining contractual term, exercisable at end of period	6 years 1 month 6 days
Aggregate intrinsic value, outstanding at end of period	$ 107,028
Aggregate intrinsic value, exercisable at end of period	64,442
Intrinsic value of stock options exercised	$ 43,900	$ 5,300

Equity Incentive Plan, Weighted Average Assumptions (Details) - $ / shares	12 Months Ended
	Jan. 28, 2017	Jan. 30, 2016	Jan. 31, 2015
Equity Incentive Plan [Abstract]
Weighted average grant date fair value per option granted (in dollars per share)	$ 6.47	$ 5.05	$ 3.57
Risk-free interest rate	1.72%	1.99%	2.22%
Expected dividend yield	0.00%	0.00%	0.00%
Expected life	6 years 3 months	6 years 3 months	6 years 6 months
Expected volatility	28.52%	31.56%	34.80%

Equity Incentive Plans, RSU Activity (Details) - Restricted Stock Units [Member]	12 Months Ended
	Jan. 28, 2017 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cliff vesting period	4 years
Number of Shares [Roll Forward]
Nonvested at beginning of period (in shares) \| shares	0
Granted (in shares) \| shares	137,458
Forfeited (in shares) \| shares	(740)
Nonvested at end of period (in shares) \| shares	136,718
Weighted Average Grant Date Fair Value [Abstract]
Nonvested at beginning of period (in dollars per share) \| $ / shares	$ 0
Granted (in dollars per share) \| $ / shares	20.36
Forfeited (in dollars per share) \| $ / shares	20.26
Nonvested at end of period (in dollars per share) \| $ / shares	$ 20.36
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years

Equity Incentive Plan, Stock Based Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2017	Jan. 30, 2016	Jan. 31, 2015
Stock-Based Compensation Expense [Abstract]
Income tax benefit for stock-based award compensation	$ 2.5	$ 1.9	$ 1.4
Total unrecognized compensation cost related to non-vested stock-based compensation arrangements	$ 12.6
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	$ 6.7	$ 5.0	$ 3.8

Employee Benefit Plans (Details) - 401(k) Defined Contribution Plan [Member] - USD ($) $ in Millions	12 Months Ended
	Jan. 28, 2017	Jan. 30, 2016	Jan. 31, 2015
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	$ 0.3
Maximum [Member]
Employee Benefit Plans [Abstract]
Employer matching contribution percentage	25.00%

Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands							12 Months Ended
	Sep. 06, 2016	Jun. 06, 2016	Feb. 19, 2016	Feb. 18, 2016	Jul. 17, 2015	Jul. 15, 2015	Jan. 28, 2017	Jan. 30, 2016	Jan. 31, 2015
Equity [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
Initial Public Offering [Abstract]
Net proceeds from IPO							$ 0	$ 149,806	$ 0
Secondary Offering [Abstract]
Proceeds from stock option exercises							$ 13,304	$ 2,271	$ 0
Common Stock Class A [Member]
Treasury Shares [Abstract]
Shares repurchased (in shares)							0	5,750	2,875
Purchase price per share (in dollars per share)								$ 9.99	$ 9.99
Common Stock [Member]
Initial Public Offering [Abstract]
Shares issued (in shares)					10,263,750			10,264,000
Share price (in dollars per share)					$ 16.00
Net proceeds from IPO					$ 153,100
Underwriting fees					$ 11,100
Secondary Offering [Abstract]
Number of options exercised (in shares)							1,949,000	335,000
Treasury Shares [Abstract]
Shares repurchased (in shares)								0	0
Common Stock [Member] \| IPO [Member]
Initial Public Offering [Abstract]
Shares issued (in shares)						8,925,000
Common Stock [Member] \| Over-Allotment Option [Member]
Initial Public Offering [Abstract]
Shares issued (in shares)					1,338,750
Common Stock [Member] \| Secondary Offering [Member]
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 of stock sold in secondary offering (in dollars per share)	$ 26.07	$ 25.00	$ 19.75
Proceeds from stock option exercises				$ 7,500
Common Stock [Member] \| Secondary Offering [Member] \| Selling, General and Administrative Expenses [Member]
Secondary Offering [Abstract]
Legal, accounting and other fees	$ 600	$ 600	$ 600
Common Stock [Member] \| Common Stock Class A [Member]
Initial Public Offering [Abstract]
Shares issued (in shares)								0
Secondary Offering [Abstract]
Number of options exercised (in shares)							0	5,000
Treasury Shares [Abstract]
Shares repurchased (in shares)								0	0

Transactions with Affiliates and Related Parties (Details) $ in Millions	12 Months Ended
	Jan. 28, 2017 USD ($) Lease	Jan. 30, 2016 USD ($)	Jan. 31, 2015 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]
Year ending February 3, 2018	$ 1.3
Year ending February 2, 2019	1.3
Year ending February 1, 2020	1.3
Year ending January 30, 2021	1.3
Year ending January 29, 2022	1.3
Thereafter	3.2
Use of Airplane [Member]
Future Minimum Lease Payments Required under Non-cancelable Operating Leases [Abstract]
Payments to related parties	$ 0.1	$ 0.2	$ 0.2

Segment Reporting (Details) - Segment	12 Months Ended
Segment Reporting (Details) - Segment	Jan. 28, 2017	Jan. 30, 2016	Jan. 31, 2015
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	12.70%	13.10%	14.70%
Food [Member] \| Net Sales [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	12.70%	13.20%	12.50%
Books and Stationery [Member] \| Net Sales [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	10.60%	11.50%	10.90%
Bed and Bath [Member] \| Net Sales [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	10.10%	10.10%	10.10%
Floor Coverings [Member] \| Net Sales [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	8.00%	8.60%	9.60%
Electronics [Member] \| Net Sales [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	6.70%	5.60%	4.50%
Toys [Member] \| Net Sales [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	5.20%	4.90%	5.10%
Other [Member] \| Net Sales [Member]
Sales by Merchandise Category [Abstract]
Concentration risk percentage	34.00%	33.00%	32.60%

Quarterly Results of Operations and Seasonality (Unaudited) (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Jan. 28, 2017

Oct. 29, 2016

Jul. 30, 2016

Apr. 30, 2016

Jan. 30, 2016

Oct. 31, 2015

Aug. 01, 2015

May 02, 2015

Jan. 28, 2017

Jan. 30, 2016

Jan. 31, 2015

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

Net sales

$ 283,355

$ 201,985

$ 211,256

$ 193,719

$ 243,402

$ 174,565

$ 181,933

$ 162,470

$ 890,315

$ 762,370

$ 637,975

Gross profit

113,392

84,190

83,814

79,015

98,839

69,924

70,058

64,043

360,411

302,864

253,510

Net income

$ 24,420

$ 10,461

$ 13,135

$ 11,748

$ 16,064

$ 6,762

$ 6,352

$ 6,661

$ 59,764

$ 35,839

$ 26,915

Basic earnings per common share (in dollars per share)

$ 0.40

^[1]

$ 0.17

^[1]

$ 0.22

^[1]

$ 0.20

^[1]

$ 0.27

^[1]

$ 0.12

^[1]

$ 0.13

^[1]

$ 0.14

^[1]

$ 0.99

$ 0.67

$ 0.56

Diluted earnings per common share (in dollars per share)

$ 0.39

^[1]

$ 0.17

^[1]

$ 0.21

^[1]

$ 0.19

^[1]

$ 0.26

^[1]

$ 0.11

^[1]

$ 0.12

^[1]

$ 0.13

^[1]

$ 0.96

$ 0.64

$ 0.55

[1]	The sum of the quarterly per share amounts may not equal per share amounts reported for the fiscal year end due to rounding.

Subsequent Event (Details) $ in Millions	Mar. 23, 2017 USD ($)
Subsequent Event [Member] \| New Term Loan Facility [Member]
Debt Obligations and Financing Arrangements [Abstract]
Repayment of debt	$ 40.0

Schedule I - Condensed Financial Information of Registrant Ollie's Bargain Outlet Holdings, Inc. (parent company only), Condensed Balance Sheets (Details) - USD ($) $ in Thousands	Jan. 28, 2017	Jan. 30, 2016	May 27, 2015	Jan. 31, 2015	Apr. 11, 2014	Feb. 01, 2014
Assets
Total current assets	$ 312,830	$ 223,806
Long-term assets:
Total assets	1,039,375	943,822
Liabilities and Stockholders' Equity
Total current liabilities	104,821	96,768
Total liabilities	388,114	381,873
Stockholders' equity:
Common stock	61	59
Additional paid-in capital	565,861	536,315
Retained earnings	85,425	25,661	$ 0		$ 0
Treasury stock, at cost	(86)	(86)
Total stockholders' equity	651,261	561,949		$ 416,835		$ 444,139
Total liabilities and stockholders' equity	1,039,375	943,822
Ollie's Bargain Outlet Holdings, Inc. [Member]
Assets
Total current assets	0	0
Long-term assets:
Investment in subsidiaries	651,261	561,949
Total assets	651,261	561,949
Liabilities and Stockholders' Equity
Total current liabilities	0	0
Total long-term liabilities	0	0
Total liabilities	0	0
Stockholders' equity:
Common stock	61	59
Additional paid-in capital	565,861	536,315
Retained earnings	85,425	25,661
Treasury stock, at cost	(86)	(86)
Total stockholders' equity	651,261	561,949
Total liabilities and stockholders' equity	$ 651,261	$ 561,949

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
	Jan. 28, 2017	Oct. 29, 2016	Jul. 30, 2016	Apr. 30, 2016	Jan. 30, 2016	Oct. 31, 2015	Aug. 01, 2015	May 02, 2015	Jan. 28, 2017	Jan. 30, 2016	Jan. 31, 2015
Condensed Statements of Income [Abstract]
Net sales	$ 283,355	$ 201,985	$ 211,256	$ 193,719	$ 243,402	$ 174,565	$ 181,933	$ 162,470	$ 890,315	$ 762,370	$ 637,975
Cost of sales									529,904	459,506	384,465
Gross profit	113,392	84,190	83,814	79,015	98,839	69,924	70,058	64,043	360,411	302,864	253,510
Selling, general and administrative expenses									242,891	209,783	178,832
Depreciation and amortization expenses									8,443	7,172	6,987
Pre-opening expenses									6,883	6,337	4,910
Operating income									102,194	79,572	62,781
Interest expense, net									5,935	15,416	18,432
Income before income taxes									96,259	57,446	43,678
Income tax expense									36,495	21,607	16,763
Net income	$ 24,420	$ 10,461	$ 13,135	$ 11,748	$ 16,064	$ 6,762	$ 6,352	$ 6,661	59,764	35,839	26,915
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									0	0	0
Income tax expense									0	0	0
Income before equity in net income of subsidiaries									0	0	0
Net income of subsidiaries									59,764	35,839	26,915
Net income									$ 59,764	$ 35,839	$ 26,915

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
	Jan. 28, 2017	Jan. 30, 2016	Jan. 31, 2015
Basis of Presentation [Abstract]
Net increase (decrease) in cash and cash equivalents	$ 68,424	$ 8,307	$ 9,786
Guarantees and Restrictions [Abstract]
Outstanding borrowings	195,259
New Term Loan Facility [Member]
Guarantees and Restrictions [Abstract]
Outstanding borrowings	195,000
New Revolving Credit Facility [Member]
Guarantees and Restrictions [Abstract]
Borrowing availability	98,800
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	$ 195,000
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	$ 98,800