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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Aug. 03, 2019	Sep. 03, 2019
Cover [Abstract]
Entity Registrant Name	Ollie’s Bargain Outlet Holdings, Inc.
Entity Central Index Key	0001639300
Current Fiscal Year End Date	--02-01
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		63,589,467
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Aug. 03, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-37501
Entity Tax Identification Number	80-0848819
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	6295 Allentown Boulevard
Entity Address, Address Line Two	Suite 1
Entity Address, City or Town	Harrisburg
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	17112
City Area Code	717
Local Phone Number	657-2300
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	OLLI
Security Exchange Name	NASDAQ

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 03, 2019	Aug. 04, 2018	Aug. 03, 2019	Aug. 04, 2018
Condensed Consolidated Statements of Income (Unaudited) [Abstract]
Net sales	$ 333,865	$ 288,098	$ 658,719	$ 563,837
Cost of sales	209,832	175,474	401,952	338,337
Gross profit	124,033	112,624	256,767	225,500
Selling, general and administrative expenses	87,350	72,990	170,682	145,354
Depreciation and amortization expenses	3,512	2,854	6,921	5,617
Pre-opening expenses	2,420	1,917	7,629	3,681
Operating income	30,751	34,863	71,535	70,848
Interest (income) expense, net	(372)	278	(517)	816
Loss on extinguishment of debt	0	0	0	100
Income before income taxes	31,123	34,585	72,052	69,932
Income tax expense	5,953	4,737	8,165	9,630
Net income	$ 25,170	$ 29,848	$ 63,887	$ 60,302
Earnings per common share:
Basic (in dollars per share)	$ 0.40	$ 0.48	$ 1.01	$ 0.97
Diluted (in dollars per share)	$ 0.38	$ 0.45	$ 0.96	$ 0.92
Weighted average common shares outstanding:
Basic (in shares)	63,517	62,444	63,351	62,306
Diluted (in shares)	66,300	65,868	66,237	65,745

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Aug. 03, 2019	Feb. 02, 2019	Aug. 04, 2018
Current assets:
Cash and cash equivalents	$ 78,473	$ 51,941	$ 29,415
Inventories	354,576	296,407	287,440
Accounts receivable	1,191	570	1,602
Prepaid expenses and other assets	5,403	9,579	9,918
Total current assets	439,643	358,497	328,375
Property and equipment, net of accumulated depreciation of $68,569, $56,579 and $60,433, respectively	105,321	119,052	57,991
Operating lease right-of-use assets	321,428	0	0
Goodwill	444,850	444,850	444,850
Trade name and other intangible assets, net of accumulated amortization of $0, $1,992 and $2,160, respectively	230,559	232,304	232,472
Other assets	2,540	4,300	4,081
Total assets	1,544,341	1,159,003	1,067,769
Current liabilities:
Current portion of long-term debt	269	238	10,178
Accounts payable	91,860	77,431	69,015
Income taxes payable	1,414	7,393	0
Current portion of operating lease liabilities	54,628	0	0
Accrued expenses and other	58,266	65,934	51,762
Total current liabilities	206,437	150,996	130,955
Revolving credit facility	0	0	0
Long-term debt	515	441	11,516
Deferred income taxes	55,198	55,616	57,184
Long-term operating lease liabilities	264,715	0	0
Other long-term liabilities	7	9,298	7,961
Total liabilities	526,872	216,351	207,616
Stockholders' equity:
Preferred stock - 50,000 shares authorized at $0.001 par value; no shares issued	0	0	0
Common stock - 500,000 shares authorized at $0.001 par value; 63,592, 62,611 and 63,015 shares issued, respectively	64	63	63
Additional paid-in capital	611,163	600,234	592,446
Retained earnings	406,328	342,441	267,730
Treasury - common stock, at cost; 9 shares	(86)	(86)	(86)
Total stockholders' equity	1,017,469	942,652	860,153
Total liabilities and stockholders' equity	$ 1,544,341	$ 1,159,003	$ 1,067,769

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Aug. 03, 2019	Feb. 02, 2019	Aug. 04, 2018
Assets
Property and equipment, accumulated depreciation	$ 68,569	$ 60,433	$ 56,579
Trade name and other intangible assets, accumulated amortization	$ 0	$ 2,160	$ 1,992
Stockholders' equity:
Preferred stock, shares authorized (in shares)	50,000	50,000	50,000
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001
Preferred stock, shares issued (in shares)	0	0	0
Common stock, shares authorized (in shares)	500,000	500,000	500,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001
Common stock, shares issued (in shares)	63,592	63,015	62,611
Treasury - common stock (in shares)	9	9	9

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of adopting ASU 2014-09 \| ASU 2014-09 [Member]	$ 0	$ 0	$ 0	$ (5,591)	$ (5,591)
Beginning balance at Feb. 03, 2018	$ 62	$ (86)	583,467	213,019	796,462
Beginning balance (in shares) at Feb. 03, 2018	62,007
Beginning balance (in shares) at Feb. 03, 2018		(9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 0	$ 0	3,510	0	3,510
Proceeds from stock options exercised	$ 1	$ 0	6,171	0	6,172
Proceeds from stock options exercised (in shares)	564	0
Vesting of restricted stock	$ 0	$ 0	0	0	0
Vesting of restricted stock (in shares)	52	0
Common shares withheld for taxes	$ 0	$ 0	(702)	0	(702)
Common shares withheld for taxes (in shares)	(12)	0
Net income	$ 0	$ 0	0	60,302	60,302
Ending balance at Aug. 04, 2018	$ 63	$ (86)	592,446	267,730	860,153
Ending balance (in shares) at Aug. 04, 2018	62,611
Ending balance (in shares) at Aug. 04, 2018		(9)
Beginning balance at May. 05, 2018	$ 62	$ (86)	587,857	237,882	825,715
Beginning balance (in shares) at May. 05, 2018	62,358
Beginning balance (in shares) at May. 05, 2018		(9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 0	$ 0	1,910	0	1,910
Proceeds from stock options exercised	$ 1	$ 0	2,679	0	2,680
Proceeds from stock options exercised (in shares)	252	0
Vesting of restricted stock	$ 0	$ 0	0	0	0
Vesting of restricted stock (in shares)	1	0
Net income	$ 0	$ 0	0	29,848	29,848
Ending balance at Aug. 04, 2018	$ 63	$ (86)	592,446	267,730	860,153
Ending balance (in shares) at Aug. 04, 2018	62,611
Ending balance (in shares) at Aug. 04, 2018		(9)
Beginning balance at Feb. 02, 2019	$ 63	$ (86)	600,234	342,441	942,652
Beginning balance (in shares) at Feb. 02, 2019	63,015
Beginning balance (in shares) at Feb. 02, 2019		(9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 0	$ 0	4,625	0	4,625
Proceeds from stock options exercised	$ 1	$ 0	7,571	0	7,572
Proceeds from stock options exercised (in shares)	536	0
Vesting of restricted stock	$ 0	$ 0	0	0	0
Vesting of restricted stock (in shares)	57	0
Common shares withheld for taxes	$ 0	$ 0	(1,267)	0	(1,267)
Common shares withheld for taxes (in shares)	(16)	0
Net income	$ 0	$ 0	0	63,887	63,887
Ending balance at Aug. 03, 2019	$ 64	$ (86)	611,163	406,328	1,017,469
Ending balance (in shares) at Aug. 03, 2019	63,592
Ending balance (in shares) at Aug. 03, 2019		(9)
Beginning balance at May. 04, 2019	$ 63	$ (86)	607,241	381,158	988,376
Beginning balance (in shares) at May. 04, 2019	63,492
Beginning balance (in shares) at May. 04, 2019		(9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 0	$ 0	2,432	0	2,432
Proceeds from stock options exercised	$ 1	$ 0	1,490	0	1,491
Proceeds from stock options exercised (in shares)	99	0
Vesting of restricted stock	$ 0	$ 0	0	0	0
Vesting of restricted stock (in shares)	1	0
Net income	$ 0	$ 0	0	25,170	25,170
Ending balance at Aug. 03, 2019	$ 64	$ (86)	$ 611,163	$ 406,328	$ 1,017,469
Ending balance (in shares) at Aug. 03, 2019	63,592
Ending balance (in shares) at Aug. 03, 2019		(9)

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Aug. 03, 2019	Aug. 04, 2018
Cash flows from operating activities:
Net income	$ 63,887	$ 60,302
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment	8,369	6,723
Amortization of debt issuance costs	168	248
Amortization of original issue discount	0	3
Loss on extinguishment of debt	0	100
Gain on sale of assets	(13)	(24)
Amortization of intangibles	0	167
Deferred income tax (benefit) provision	(215)	33
Deferred rent expense	0	994
Stock-based compensation expense	4,625	3,510
Changes in operating assets and liabilities:
Inventories	(58,169)	(32,255)
Accounts receivable	(621)	(331)
Prepaid expenses and other assets	(586)	(4,075)
Accounts payable	14,140	(4,776)
Income taxes payable	(5,979)	(6,035)
Accrued expenses and other liabilities	(6,967)	(2,055)
Net cash provided by operating activities	18,639	22,529
Cash flows from investing activities:
Purchases of property and equipment	(40,351)	(10,241)
Proceeds from sale of property and equipment	42,693	43
Net cash provided by (used in) investing activities	2,342	(10,198)
Cash flows from financing activities:
Borrowings on revolving credit facility	703,933	599,162
Repayments on revolving credit facility	(703,933)	(599,162)
Repayments on term loan and finance leases	(202)	(27,620)
Payment of debt issuance costs	(552)	0
Proceeds from stock option exercises	7,572	6,172
Common shares withheld for taxes	(1,267)	(702)
Net cash provided by (used in) financing activities	5,551	(22,150)
Net increase (decrease) in cash and cash equivalents	26,532	(9,819)
Cash and cash equivalents at the beginning of the period	51,941	39,234
Cash and cash equivalents at the end of the period	78,473	29,415
Cash paid during the period for:
Interest	208	581
Income taxes	14,357	16,284
Non-cash investing activities:
Accrued purchases of property and equipment	$ 5,425	$ 1,352

Organization and Summary of Significant Accounting Policies

6 Months Ended

Aug. 03, 2019

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 its first store opened in 1982, the Company has grown to 332 retail locations in 23 states as of August 3, 2019. Ollie’s Bargain Outlet retail locations are located in Alabama, Arkansas, Connecticut, Delaware, Florida, Georgia, Indiana, Kentucky, Louisiana, Maryland, Michigan, Mississippi, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia and West Virginia.

(b)

Fiscal Year

Ollie’s follows a 52/53-week fiscal year, which ends on the Saturday nearer to January 31 of the following calendar year. References to the thirteen weeks ended August 3, 2019 and August 4, 2018 refer to the thirteen weeks from May 5, 2019 to August 3, 2019 and from May 6, 2018 to August 4, 2018, respectively. References to year-to-date periods ending August 3, 2019 and August 4, 2018 refer to the twenty-six weeks from February 3, 2019 to August 3, 2019 and February 4, 2018 to August 4, 2018, respectively. References to “2018” refer to the fiscal year ended February 2, 2019, which consisted of a 52-week period. References to “2019” refer to the fiscal year ending February 1, 2020, which consists of a 52-week period.

(c)

Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The condensed consolidated financial statements reflect all normal recurring adjustments which management believes are necessary to present fairly the Company’s results of operations, financial condition, and cash flows for all periods presented. The condensed consolidated balance sheets as of August 3, 2019 and August 4, 2018, the condensed consolidated statements of income and stockholders’ equity for the thirteen and twenty-six weeks ended August 3, 2019 and August 4, 2018, respectively, and the condensed consolidated statements of cash flows for the twenty-six weeks ended August 3, 2019 and August 4, 2018 have been prepared by the Company and are unaudited. The Company’s business is seasonal in nature and results of operations for the interim periods presented are not necessarily indicative of operating results for 2019 or any other period. All intercompany accounts, transactions, and balances have been eliminated in consolidation.

The Company’s balance sheet as of February 2, 2019, presented herein, has been derived from the audited balance sheet included in the Company’s Annual Report on Form 10-K filed with the SEC on March 29, 2019 (“Annual Report”), but does not include all disclosures required by GAAP. These financial statements should be read in conjunction with the financial statements for 2018 and footnotes thereto included in the Annual Report.

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

(d)

Use of Estimates

The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

(e)

Fair Value Disclosures

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

•

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

•

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

•

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

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

(f)

Recently Adopted Accounting Pronouncements

Leases

In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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, with early adoption permitted.

The Company adopted ASU 2016-02 as of February 3, 2019 using the modified retrospective transition method, including the option to not restate comparative periods. As a part of the adoption process, the Company elected the practical expedients that do not require it to reassess existing contracts to determine if they contain leases under the new definition of a lease, or to reassess historical lease classification or initial direct costs. The Company also adopted the practical expedient to not separate lease and non-lease components for new leases after adoption of the new standard. In addition, the Company applied a policy election to exclude leases with an initial term of 12 months or less from balance sheet recognition. The Company did not adopt the hindsight practical expedient and, therefore, will continue to utilize lease terms determined under previous lease guidance.

Adoption of the standard had a material impact on the condensed consolidated balance sheet and related disclosures and resulted in recognition of right-of-use assets of $268.2 million and lease liabilities for operating leases of $269.1 million as of February 3, 2019, while eliminating pre-existing balances for other assets of $6.9 million, deferred rent and tenant improvement allowances of $9.5 million and intangible assets related to favorable leases of $1.7 million which were reclassified to the operating lease right-of-use asset. The standard did not have a material impact on the Company’s condensed consolidated statements of income, stockholders’ equity or cash flows. Refer to Note 4 for further details.

Net Sales

6 Months Ended

Aug. 03, 2019

Net Sales [Abstract]

Net Sales

(2)

Net Sales

Ollie’s recognizes retail sales in its stores when merchandise is sold and the customer takes possession of merchandise. Also included in net sales is revenue allocated to certain redeemed discounts earned via the Ollie’s Army loyalty program and gift card breakage. Net sales are presented net of returns and sales tax. The Company provides an allowance for estimated retail merchandise returns based on prior experience.

Revenue Recognition

Revenue is deferred for the Ollie’s Army loyalty program where members accumulate points that can be redeemed for discounts on future purchases. The Company has determined it has an additional performance obligation to Ollie’s Army members at the time of the initial transaction. The Company allocates the transaction price to the initial transaction and the discount awards based upon its relative standalone selling price, which considers historical redemption patterns for the award. Revenue is recognized as those discount awards are redeemed. Discount awards which are issued upon the achievement of specified point levels are valid for a maximum of 90 days from the date of issuance. At the end of each fiscal period, unredeemed discount awards and accumulated points to earn a future discount award are reflected as a liability. Discount awards are combined in one homogeneous pool and are not separately identifiable. Therefore, the revenue recognized consists of discount awards redeemed that were included in the deferred revenue balance at the beginning of the period as well as discount awards issued during the current period. The following table is a reconciliation of the liability related to this program (in thousands):

	Twenty-six weeks ended
	August 3, 2019			August 4, 2018
Beginning Balance	$	9,055		$	8,321
Revenue deferred		8,028			5,861
Revenue recognized		(7,142	)		(5,553	)
Ending Balance	$	9,941		$	8,629

Gift card breakage for gift card liabilities not subject to escheatment is recognized as revenue in proportion to the redemption of gift cards. The rate applied to redemptions is based upon a historical breakage rate. Gift cards are combined in one homogenous pool and are not separately identifiable. Therefore, the revenue recognized consists of gift cards that were included in the liability at the beginning of the period as well as gift cards that were issued during the period. The following table is a reconciliation of the gift card liability (in thousands):

	Twenty-six weeks ended
	August 3, 2019			August 4, 2018
Beginning Balance	$	1,448		$	1,223
Gift card issuances		2,253			1,966
Gift card redemption and breakage		(2,285	)		(2,009	)
Ending Balance	$	1,416		$	1,180

Earnings per Common Share

6 Months Ended

Aug. 03, 2019

Earnings per Common Share [Abstract]

Earnings per Common Share

(3)	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):

	Thirteen weeks ended				Twenty-six weeks ended
	August 3, 2019		August 4, 2018		August 3, 2019		August 4, 2018
Net income	$	25,170	$	29,848	$	63,887	$	60,302
Weighted average number of common shares outstanding – Basic		63,517		62,444		63,351		62,306
Dilutive impact of stock options and restricted stock units		2,783		3,424		2,886		3,439
Weighted average number of common shares outstanding – Diluted		66,300		65,868		66,237		65,745
Earnings per common share – Basic	$	0.40	$	0.48	$	1.01	$	0.97
Earnings per common share – Diluted	$	0.38	$	0.45	$	0.96	$	0.92

The effect of the weighted average assumed exercise of stock options outstanding totaling 281,328 and 266,285 for the thirteen weeks ended August 3, 2019 and August 4, 2018, respectively, and 213,506 and 195,512 for the twenty-six weeks ended August 3, 2019 and August 4, 2018, respectively, were excluded from the calculation of diluted weighted average common shares outstanding because the effect would have been antidilutive.

The effect of weighted average non-vested restricted stock units outstanding totaling 219 and 345 for the thirteen weeks ended August 3, 2019 and August 4, 2018, respectively, and 14,673 and 13,339 for the twenty-six weeks ended August 3, 2019 and August 4, 2018, respectively, were excluded from the calculation of diluted weighted average common shares outstanding because the effect would have been antidilutive.

Commitments and Contingencies

6 Months Ended

Aug. 03, 2019

Commitments and Contingencies [Abstract]

Commitments and Contingencies

(4)	Commitments and Contingencies

Commitments

On February 3, 2019, the first day of Ollie’s fiscal year 2019, the Company adopted ASU 2016-02, Leases, which requires that lessees recognize right-of-use assets and lease liabilities for all leases on the balance sheet. Ollie’s generally leases its stores, offices and distribution facilities under operating leases that expire at various dates through 2034. 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 options to renew for three to five successive five-year periods. The Company is generally not reasonably certain to exercise renewal options, therefore the options are not considered in determining the lease term, and associated potential option payments are excluded from the lease payments. Ollie’s lease agreements generally do not contain any material residual value guarantees or material restrictive covenants.

Lease costs are classified in selling, general and administrative expenses on the condensed consolidated statements of income. Lease costs for operating leases for the thirteen weeks ended August 3, 2019 and August 4, 2018 were $16.4 million and $12.1 million, respectively. Lease costs for operating leases for the twenty-six weeks ended August 3, 2019 and August 4, 2018 were $31.7 million and $24.1 million, respectively.

The following table summarizes the maturity of the Company’s operating lease liabilities as of August 3, 2019 (in thousands):

2019	$	34,186
2020		60,455
2021		59,442
2022		53,260
2023		48,868
Thereafter		118,849
Total undiscounted lease payments⁽¹⁾		375,060
Less: Imputed interest		(55,717	)
Total lease obligations		319,343
Less: Current obligations under leases		(54,628	)
Long-term lease obligations	$	264,715

⁽¹⁾ Lease obligations exclude $45.3 million of minimum lease payments for leases signed, but not commenced.

The following table summarizes other information related to the Company’s operating leases as of and for the twenty-six weeks ended August 3, 2019 (dollars in thousands):

Cash paid for operating leases	$	31,846
Non-cash right-of-use assets obtained in exchange for lease obligations		56,461
Weighted-average remaining lease term	7.2 years
Weighted-average discount rate		4.5	%

The Company adopted the new lease standard in the first quarter of 2019 as discussed in Note 1, and as required, the following disclosure is provided for periods prior to adoption. As of February 2, 2019, the following is a schedule by year of future minimum rental payments required under non-cancelable operating leases, including renewal periods that were reasonably assured and that had initial or remaining lease terms in excess of one year, excluding any payments related to insurance, taxes, or maintenance (in thousands):

2019	$	60,804
2020		56,106
2021		49,226
2022		42,724
2023		34,876
Thereafter		65,218
Total minimum lease payments	$	308,954

Related Party Leases

The Company has entered into five non-cancelable operating leases with related parties for office and store locations. Ollie’s made $0.7 million and $0.6 million in rent payments to such related parties during each of the twenty-six weeks ended August 3, 2019 and August 4, 2018, respectively.

Contingencies

From time to time the Company may be involved in claims and legal actions that arise in the ordinary course of its business. The Company cannot predict the outcome of any litigation or suit to which it is a party. However, the Company does not believe that an unfavorable decision of any of the current claims or legal actions against it, individually or in the aggregate, will have a material adverse effect on its financial position, results of operations, liquidity or capital resources.

Sale-Leaseback

On May 31, 2019, OBO Ventures, Inc. (“OBO”), a wholly owned subsidiary of the Company, entered into a sale-leaseback transaction with an unaffiliated third-party involving 12 former Toys “R” Us store locations which were acquired by OBO on August 29, 2018. OBO received approximately $42.0 million for the 12 locations, which resulted in no net gain or loss. Each of the 12 leased locations has 15-year lease terms with options for renewal and $34.6 million is included in operating lease liabilities as of August 3, 2019.

Accrued Expenses and Other

6 Months Ended

Aug. 03, 2019

Accrued Expenses and Other [Abstract]

Accrued Expenses and Other

(5)	Accrued Expenses and Other

Accrued expenses and other consists of the following (in thousands):

	August 3, 2019		August 4, 2018		February 2, 2019
Compensation and benefits	$	11,985	$	11,557	$	16,438
Deferred revenue		11,357		8,629		10,503
Insurance		4,572		5,198		6,159
Sales and use taxes		4,529		3,815		3,464
Freight		4,528		4,113		4,496
Real estate related		4,173		3,888		3,748
Advertising		1,374		1,968		5,678
Other		15,748		12,594		15,448
	$	58,266	$	51,762	$	65,934

Debt Obligations and Financing Arrangements

6 Months Ended

Aug. 03, 2019

Debt Obligations and Financing Arrangements [Abstract]

Debt Obligations and Financing Arrangements

(6)	Debt Obligations and Financing Arrangements

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

	August 3, 2019			August 4, 2018			February 2, 2019
Term loan, net	$	-		$	21,173		$	-
Finance leases		784			521			679
Total debt		784			21,694			679
Less: current portion		(269	)		(10,178	)		(238	)
Long-term debt	$	515		$	11,516		$	441

The Company’s prior credit facilities consisted of a $200.0 million term loan, which was fully paid as of February 2, 2019, and a $100.0 million revolving credit facility, which included a $25.0 million sub-facility for letters of credit and a $25.0 million sub-facility for swingline loans. Loans under the prior credit facilities would have matured January 29, 2021, however, the Company made voluntary prepayments under the prior term loan facility totaling $48.8 million during 2018, paying the balance in full.

On May 22, 2019, the Company completed a transaction in which it refinanced its credit facility (the “Credit Facility”). The Credit Facility provides for a five-year $100.0 million revolving credit facility, which includes a $45.0 million sub-facility for letters of credit and a $25.0 million sub-facility for swingline loans (the “Revolving Credit Facility”). The loans under the Revolving Credit Facility mature on May 22, 2024. In addition, the Company may, at any time and from time to time add term loan facilities or additional revolving commitments up to $150.0 million pursuant to terms and conditions set out in the Credit Facility.

The interest rates for the Credit Facility are calculated as follows: for Base Rate Loans, 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 0.00% to 0.50% for a Base Rate Loan and 1.00% to 1.50% for a Eurodollar Loan, based on availability under the Credit Facility. The Eurodollar Rate is subject to a 0% floor.

Under the terms of the Revolving Credit Facility, as of August 3, 2019, 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 August 3, 2019, the Company had no outstanding borrowings under the Revolving Credit Facility, with $91.1 million of borrowing availability, letter of credit commitments of $8.7 million and $0.2 million of rent reserves. The Revolving Credit Facility also contains a variable unused line fee ranging from 0.125% to 0.250% per annum.

The Credit Facility is collateralized by the Company’s assets and equity and contains financial covenants, as well as certain business covenants, including restrictions on dividend payments, which the Company must comply with during the term of the agreement. The financial covenants include a consolidated fixed charge coverage ratio test of at least 1.0 to 1.0 applicable during a covenant period, based on reference to availability. The Company was in compliance with all terms of the Credit Facility during the twenty-six weeks ended August 3, 2019.

The provisions of the Credit Facility 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 August 3, 2019, from being used to pay any dividends or make other restricted payments to the Company without prior written consent from the financial institutions that are a party to the Credit Facility, subject to material exceptions including proforma compliance with the applicable conditions described in the Credit Facility.

Income Taxes

6 Months Ended

Aug. 03, 2019

Income Taxes [Abstract]

Income Taxes

(7)	Income Taxes

The provision for income taxes is based on the current estimate of the annual effective tax rate and is adjusted as necessary for discrete events occurring in a particular period. The effective tax rates for the thirteen and twenty-six weeks ended August 3, 2019 were 19.1% and 11.3%, respectively. The effective tax rates for the thirteen and twenty-six weeks ended August 4, 2018 were 13.7% and 13.8%, respectively. The effective tax rates during the thirteen and twenty-six weeks ended August 3, 2019 were affected by excess tax benefits related to stock-based compensation of $1.7 million and $9.8 million respectively. The thirteen and twenty-six weeks ended August 4, 2018 included a similar discrete tax benefit of $3.8 million and $7.7 million, respectively.

Equity Incentive Plans

6 Months Ended

Aug. 03, 2019

Equity Incentive Plans [Abstract]

Equity Incentive Plans

(8)	Equity Incentive Plans

During 2012, Ollie’s established an equity incentive plan (the “2012 Plan”) under which stock options were granted to executive officers and key employees as deemed appropriate under the provisions of the 2012 Plan, with an exercise price at the fair value of the underlying stock on the date of grant. The vesting period for options granted under the 2012 Plan was 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 Company’s initial public offering, no additional equity grants will be made under the 2012 Plan.

In connection with its initial public offering, the Company adopted the 2015 equity incentive plan (the “2015 Plan”), pursuant to which the Company’s Board of Directors may grant stock options, restricted shares or other awards to employees, directors and consultants. The 2015 Plan allows for the issuance of up to 5,250,000 shares. Awards will be made pursuant to agreements and may be subject to vesting and other restrictions as determined by the Board of Directors or the Compensation Committee of the Board. The Company uses authorized and unissued shares to satisfy share award exercises. As of August 3, 2019, there were 3,135,719 shares available for grant under the 2015 Plan.

Stock Options

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

A summary of the Company’s stock option activity and related information follows for the twenty-six weeks ended August 3, 2019 (in thousands, except share and per share amounts):

	Number of options			Weighted average exercise price		Weighted average remaining contractual term (years)
Outstanding at February 2, 2019		3,746,422		$	15.29
Granted		289,729			80.05
Forfeited		(18,813	)		62.05
Exercised		(535,891	)		14.13
Outstanding at August 3, 2019		3,481,447			20.61		5.2
Exercisable at August 3, 2019		2,553,853			10.87		4.1

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

The expected life of stock options was estimated using the “simplified method,” as the Company does not have sufficient 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 its historical information since its initial public offering as well as comparable public companies’ as a basis for its expected volatility to calculate the fair value of option grants. The risk-free interest rate is based on U.S. Treasury notes with a term approximating the expected life of the option.

The weighted average grant date fair value per option for options granted during the twenty-six weeks ended August 3, 2019 and August 4, 2018 was $24.97 and $18.77, 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:

	Twenty-six weeks ended
	August 3, 2019			August 4, 2018
Risk-free interest rate		2.42	%		2.70	%
Expected dividend yield		-			-
Expected term (years)	6.25 years			6.25 years
Expected volatility		25.88	%		25.85	%

Restricted Stock Units

Restricted stock units (“RSUs”) are issued at a value not less than the fair market value of the common stock on the date of the grant. RSUs outstanding vest ratably over four years or cliff vest in one or 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 the twenty-six weeks ended August 3, 2019 is as follows:

	Number of shares			Weighted average grant date fair value
Non-vested balance at February 2, 2019		220,200		$	35.75
Granted		58,990			80.20
Forfeited		(799	)		75.90
Vested		(57,140	)		33.70
Non-vested balance at August 3, 2019		221,251			47.98

Stock-Based Compensation Expense

The compensation cost for stock options and RSUs which has been recorded within selling, general and administrative expenses was $2.4 million and $1.9 million for the thirteen weeks ended August 3, 2019 and August 4, 2018, respectively and $4.6 million and $3.5 million for the twenty-six weeks ended August 3, 2019 and August 4, 2018, respectively.

As of August 3, 2019, there was $20.0 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 2.9 years. Compensation costs related to awards are recognized using the straight-line method.

Subsequent Event

6 Months Ended

Aug. 03, 2019

Subsequent Event [Abstract]

Subsequent Event

(9)	Subsequent Event

On March 26, 2019, the Board of Directors of the Company authorized the repurchase of up to $100.0 million of shares of the Company’s common stock, which has a two-year term. The shares to be repurchased may be purchased from time to time in open market conditions. Pursuant to the share repurchase program, the Company has purchased 241,231 shares subsequent to August 3, 2019 through September 4, 2019 for a total cost of $13.5 million inclusive of transaction costs.

Organization and Summary of Significant Accounting Policies (Policies)

6 Months Ended

Aug. 03, 2019

Organization and Summary of Significant Accounting Policies [Abstract]

Fiscal Year

(b)

Fiscal Year

Basis of Presentation

(c)

Basis of Presentation

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.

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.

Recently Adopted Accounting Pronouncements

(f)

Recently Adopted Accounting Pronouncements

Leases

Net Sales (Policies)	6 Months Ended
Net Sales (Policies)	Aug. 03, 2019
Net Sales [Abstract]
Net Sales	Ollie’s recognizes retail sales in its stores when merchandise is sold and the customer takes possession of merchandise. Also included in net sales is revenue allocated to certain redeemed discounts earned via the Ollie’s Army loyalty program and gift card breakage. Net sales are presented net of returns and sales tax. The Company provides an allowance for estimated retail merchandise returns based on prior experience.

Net Sales (Tables)

6 Months Ended

Aug. 03, 2019

Net Sales [Abstract]

Reconciliation of Liabilities for Ollie's Army Loyalty Program and Gift Cards

	Twenty-six weeks ended
	August 3, 2019			August 4, 2018
Beginning Balance	$	9,055		$	8,321
Revenue deferred		8,028			5,861
Revenue recognized		(7,142	)		(5,553	)
Ending Balance	$	9,941		$	8,629

	Twenty-six weeks ended
	August 3, 2019			August 4, 2018
Beginning Balance	$	1,448		$	1,223
Gift card issuances		2,253			1,966
Gift card redemption and breakage		(2,285	)		(2,009	)
Ending Balance	$	1,416		$	1,180

Earnings per Common Share (Tables)

6 Months Ended

Aug. 03, 2019

Earnings per Common Share [Abstract]

Earnings per Common Share

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

	Thirteen weeks ended				Twenty-six weeks ended
	August 3, 2019		August 4, 2018		August 3, 2019		August 4, 2018
Net income	$	25,170	$	29,848	$	63,887	$	60,302
Weighted average number of common shares outstanding – Basic		63,517		62,444		63,351		62,306
Dilutive impact of stock options and restricted stock units		2,783		3,424		2,886		3,439
Weighted average number of common shares outstanding – Diluted		66,300		65,868		66,237		65,745
Earnings per common share – Basic	$	0.40	$	0.48	$	1.01	$	0.97
Earnings per common share – Diluted	$	0.38	$	0.45	$	0.96	$	0.92

Commitments and Contingencies (Tables)

6 Months Ended

Aug. 03, 2019

Commitments and Contingencies [Abstract]

Maturity of Operating Lease Liabilities

The following table summarizes the maturity of the Company’s operating lease liabilities as of August 3, 2019 (in thousands):

2019	$	34,186
2020		60,455
2021		59,442
2022		53,260
2023		48,868
Thereafter		118,849
Total undiscounted lease payments⁽¹⁾		375,060
Less: Imputed interest		(55,717	)
Total lease obligations		319,343
Less: Current obligations under leases		(54,628	)
Long-term lease obligations	$	264,715

(1) Lease obligations exclude $45.3 million of minimum lease payments for leases signed, but not commenced.

Other Information Related to Operating Leases

The following table summarizes other information related to the Company’s operating leases as of and for the twenty-six weeks ended August 3, 2019 (dollars in thousands):

Cash paid for operating leases	$	31,846
Non-cash right-of-use assets obtained in exchange for lease obligations		56,461
Weighted-average remaining lease term	7.2 years
Weighted-average discount rate		4.5	%

Future Minimum Rental Payments Required under Non-cancelable Operating Leases

2019	$	60,804
2020		56,106
2021		49,226
2022		42,724
2023		34,876
Thereafter		65,218
Total minimum lease payments	$	308,954

Accrued Expenses and Other (Tables)

6 Months Ended

Aug. 03, 2019

Accrued Expenses and Other [Abstract]

Accrued Expenses and Other

Accrued expenses and other consists of the following (in thousands):

	August 3, 2019		August 4, 2018		February 2, 2019
Compensation and benefits	$	11,985	$	11,557	$	16,438
Deferred revenue		11,357		8,629		10,503
Insurance		4,572		5,198		6,159
Sales and use taxes		4,529		3,815		3,464
Freight		4,528		4,113		4,496
Real estate related		4,173		3,888		3,748
Advertising		1,374		1,968		5,678
Other		15,748		12,594		15,448
	$	58,266	$	51,762	$	65,934

Debt Obligations and Financing Arrangements (Tables)

6 Months Ended

Aug. 03, 2019

Debt Obligations and Financing Arrangements [Abstract]

Long-term Debt

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

	August 3, 2019			August 4, 2018			February 2, 2019
Term loan, net	$	-		$	21,173		$	-
Finance leases		784			521			679
Total debt		784			21,694			679
Less: current portion		(269	)		(10,178	)		(238	)
Long-term debt	$	515		$	11,516		$	441

- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 835
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-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-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://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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-Topic 835
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Topic 505
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+ Details

Equity Incentive Plans (Tables)

6 Months Ended

Aug. 03, 2019

Equity Incentive Plans [Abstract]

Stock Option Activity

A summary of the Company’s stock option activity and related information follows for the twenty-six weeks ended August 3, 2019 (in thousands, except share and per share amounts):

	Number of options			Weighted average exercise price		Weighted average remaining contractual term (years)
Outstanding at February 2, 2019		3,746,422		$	15.29
Granted		289,729			80.05
Forfeited		(18,813	)		62.05
Exercised		(535,891	)		14.13
Outstanding at August 3, 2019		3,481,447			20.61		5.2
Exercisable at August 3, 2019		2,553,853			10.87		4.1

Weighted Average Assumptions

	Twenty-six weeks ended
	August 3, 2019			August 4, 2018
Risk-free interest rate		2.42	%		2.70	%
Expected dividend yield		-			-
Expected term (years)	6.25 years			6.25 years
Expected volatility		25.88	%		25.85	%

RSU Activity

A summary of the Company’s RSU activity and related information for the twenty-six weeks ended August 3, 2019 is as follows:

	Number of shares			Weighted average grant date fair value
Non-vested balance at February 2, 2019		220,200		$	35.75
Granted		58,990			80.20
Forfeited		(799	)		75.90
Vested		(57,140	)		33.70
Non-vested balance at August 3, 2019		221,251			47.98

Organization and Summary of Significant Accounting Policies (Details) $ in Thousands	6 Months Ended
	Aug. 03, 2019 USD ($) Location State Segment	Feb. 02, 2019 USD ($)	Aug. 04, 2018 USD ($)
Organization and Summary of Significant Accounting Policies [Abstract]
Number of retail locations \| Location	332
Number of states in which retail locations are located \| State	23
Number of operating segments \| Segment	1
Recently Adopted Accounting Pronouncements [Abstract]
Right-of-use assets	$ 321,428	$ 0	$ 0
Lease liabilities	$ 319,343
Other assets		6,900
Deferred rent and tenant improvement allowances		9,500
Favorable Leases [Member]
Recently Adopted Accounting Pronouncements [Abstract]
Intangible assets		1,700
ASU 2016-02 [Member]
Recently Adopted Accounting Pronouncements [Abstract]
Right-of-use assets		268,200
Lease liabilities		$ 269,100

Net Sales (Details) - USD ($) $ in Thousands	6 Months Ended
Net Sales (Details) - USD ($) $ in Thousands	Aug. 03, 2019	Aug. 04, 2018
Ollie's Army Loyalty Program Liability [Abstract]
Expiration period of discount awards from date of issuance	90 days
Balance at beginning of period	$ 9,055	$ 8,321
Revenue deferred	8,028	5,861
Revenue recognized	(7,142)	(5,553)
Balance at end of period	9,941	8,629
Gift Card Liability [Abstract]
Balance at beginning of period	1,448	1,223
Gift card issuances	2,253	1,966
Gift card redemption and breakage	(2,285)	(2,009)
Balance at end of period	$ 1,416	$ 1,180

Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 03, 2019	Aug. 04, 2018	Aug. 03, 2019	Aug. 04, 2018
Earnings per Common Share [Abstract]
Net income	$ 25,170	$ 29,848	$ 63,887	$ 60,302
Weighted average number of common shares outstanding - Basic (in shares)	63,517,000	62,444,000	63,351,000	62,306,000
Dilutive impact of stock options and restricted stock units (in shares)	2,783,000	3,424,000	2,886,000	3,439,000
Weighted average number of common shares outstanding - Diluted (in shares)	66,300,000	65,868,000	66,237,000	65,745,000
Earnings per common share - Basic (in dollars per share)	$ 0.40	$ 0.48	$ 1.01	$ 0.97
Earnings per common share - Diluted (in dollars per share)	$ 0.38	$ 0.45	$ 0.96	$ 0.92
Stock Options [Member]
Earnings per Common Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	281,328	266,285	213,506	195,512
Non-vested Restricted Stock Units [Member]
Earnings per Common Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	219	345	14,673	13,339

Commitments and Contingencies, Operating Leases (Details)
$ in Thousands

3 Months Ended

6 Months Ended

Aug. 03, 2019

USD ($)

Option

Aug. 04, 2018

USD ($)

Aug. 03, 2019

USD ($)

Aug. 04, 2018

USD ($)

Feb. 02, 2019

USD ($)

Commitments [Abstract]

Renewal term of leases

5 years

Lease cost for operating leases

$ 16,400

$ 12,100

$ 31,700

$ 24,100

Maturity of Operating Lease Liabilities [Abstract]

34,186

60,455

59,442

53,260

48,868

118,849

Total undiscounted lease payments

^[1]

375,060

Less: Imputed interest

(55,717)

Total lease obligations

319,343

Less: Current obligations under leases

(54,628)

$ 0

Long-term lease obligations

264,715

$ 0

264,715

$ 0

Minimum lease payments for leases signed, but not commenced

$ 45,300

45,300

Other Information Related to Operating Leases [Abstract]

Cash paid for operating leases

31,846

Non-cash right-of-use assets obtained in exchange for lease obligations

$ 56,461

Weighted-average remaining lease term

7 years 2 months 12 days

Weighted-average discount rate

4.50%

Minimum [Member]

Commitments [Abstract]

Number of options to renew operating leases | Option

Maximum [Member]

Commitments [Abstract]

Number of options to renew operating leases | Option

[1]	Lease obligations exclude $45.3 million of minimum lease payments for leases signed, but not commenced.

Commitments and Contingencies, Future Minimum Rental Payments Required under Non-cancelable Operating Leases (Details) $ in Thousands	Feb. 02, 2019 USD ($)
Future Minimum Rental Payments Required under Non-cancelable Operating Leases [Abstract]
2019	$ 60,804
2020	56,106
2021	49,226
2022	42,724
2023	34,876
Thereafter	65,218
Total minimum lease payments	$ 308,954

Commitments and Contingencies, Related Party Leases (Details) - Operating Leases for Office and Store Locations [Member] $ in Millions	6 Months Ended
	Aug. 03, 2019 USD ($) Lease	Aug. 04, 2018 USD ($)
Related Party Leases [Abstract]
Number of non-cancelable operating leases with related parties \| Lease	5
Payments to related parties \| $	$ 0.7	$ 0.6

Commitments and Contingencies, Sale-Leaseback (Details) $ in Thousands		6 Months Ended
	May 31, 2019 USD ($)	Aug. 03, 2019 USD ($)	Aug. 04, 2018 USD ($)	Aug. 29, 2018 Store
Sale-Leaseback [Abstract]
Proceeds from sale of property and equipment		$ 42,693	$ 43
Operating lease liabilities		$ 319,343
OBO [Member]
Sale-Leaseback [Abstract]
Number of Toys "R" Us store sites acquired \| Store				12
Proceeds from sale of property and equipment	$ 42,000
Net gain (loss) from sale leaseback	$ 0
Term of leases		15 years
Operating lease liabilities		$ 34,600

Accrued Expenses and Other (Details) - USD ($) $ in Thousands	Aug. 03, 2019	Feb. 02, 2019	Aug. 04, 2018
Accrued Expenses and Other [Abstract]
Compensation and benefits	$ 11,985	$ 16,438	$ 11,557
Deferred revenue	11,357	10,503	8,629
Insurance	4,572	6,159	5,198
Sales and use taxes	4,529	3,464	3,815
Freight	4,528	4,496	4,113
Real estate related	4,173	3,748	3,888
Advertising	1,374	5,678	1,968
Other	15,748	15,448	12,594
Total accrued expenses and other	$ 58,266	$ 65,934	$ 51,762

Debt Obligations and Financing Arrangements, Long-term Debt (Details) - USD ($) $ in Thousands	Aug. 03, 2019	Feb. 02, 2019	Aug. 04, 2018
Debt Obligations and Financing Arrangements [Abstract]
Term loan, net	$ 0	$ 0	$ 21,173
Finance leases	784	679	521
Total debt	784	679	21,694
Less: current portion	(269)	(238)	(10,178)
Long-term debt	$ 515	$ 441	$ 11,516

Debt Obligations and Financing Arrangements, Credit Facilities (Details) $ in Millions	6 Months Ended	12 Months Ended
	Aug. 03, 2019 USD ($)	Feb. 02, 2019 USD ($)	May 22, 2019 USD ($)
Term Loan Facility [Member]
Debt Obligations and Financing Arrangements [Abstract]
Face amount	$ 200.0
Maturity date	Jan. 29, 2021
Repayment of debt		$ 48.8
Revolving Credit Facility [Member]
Debt Obligations and Financing Arrangements [Abstract]
Maximum borrowing capacity	$ 100.0
Sub-Facility for Letters of Credit [Member]
Debt Obligations and Financing Arrangements [Abstract]
Maximum borrowing capacity	25.0
Sub-Facility for Swingline Loans [Member]
Debt Obligations and Financing Arrangements [Abstract]
Maximum borrowing capacity	$ 25.0
Credit Facility [Member]
Debt Obligations and Financing Arrangements [Abstract]
Maximum borrowing capacity			$ 150.0
Maturity date	May 22, 2024
Outstanding borrowings	$ 0.0
Borrowing availability	91.1
Letter of credit commitments	8.7
Rent reserves	$ 0.2
Credit Facility [Member] \| Minimum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Variable unused line fee percentage	0.125%
Consolidated fixed charge coverage ratio	1.0
Credit Facility [Member] \| Maximum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Variable unused line fee percentage	0.25%
Credit Facility [Member] \| Federal Funds Effective Rate [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	0.50%
Credit Facility [Member] \| Eurodollar Rate [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	1.00%
Interest rate floor	0.00%
Credit Facility [Member] \| Eurodollar Rate [Member] \| Minimum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	1.00%
Credit Facility [Member] \| Eurodollar Rate [Member] \| Maximum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	1.50%
Credit Facility [Member] \| Base Rate [Member] \| Minimum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	0.00%
Credit Facility [Member] \| Base Rate [Member] \| Maximum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Basis spread	0.50%
Revolving Credit Facility [Member]
Debt Obligations and Financing Arrangements [Abstract]
Maximum borrowing capacity			100.0
Term of facility	5 years
Revolving Credit Facility [Member] \| Maximum [Member]
Debt Obligations and Financing Arrangements [Abstract]
Percentage of most recent appraised value of eligible inventory	90.00%
Sub-Facility for Letters of Credit [Member]
Debt Obligations and Financing Arrangements [Abstract]
Maximum borrowing capacity			45.0
Sub-Facility for Swingline Loans [Member]
Debt Obligations and Financing Arrangements [Abstract]
Maximum borrowing capacity			$ 25.0

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Aug. 03, 2019	Aug. 04, 2018	Aug. 03, 2019	Aug. 04, 2018
Income Taxes [Abstract]
Effective income tax rate	19.10%	13.70%	11.30%	13.80%
Excess tax benefits related to stock-based compensation	$ (1.7)	$ (3.8)	$ (9.8)	$ (7.7)

Equity Incentive Plans, Equity Incentive Plans (Details)	6 Months Ended
	Aug. 03, 2019 shares
2012 Plan [Member] \| Stock Options [Member]
Equity Incentive Plans [Abstract]
Vesting period	5 years
Expiration period	10 years
2012 Plan [Member] \| Stock Options [Member] \| Year 1 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	20.00%
2012 Plan [Member] \| Stock Options [Member] \| Year 2 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	20.00%
2012 Plan [Member] \| Stock Options [Member] \| Year 3 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	20.00%
2012 Plan [Member] \| Stock Options [Member] \| Year 4 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	20.00%
2012 Plan [Member] \| Stock Options [Member] \| Year 5 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	20.00%
2015 Plan [Member]
Equity Incentive Plans [Abstract]
Number of shares authorized for issuance (in shares)	5,250,000
Number of shares available for grant (in shares)	3,135,719
2015 Plan [Member] \| Stock Options [Member]
Equity Incentive Plans [Abstract]
Vesting period	4 years
Expiration period	10 years
2015 Plan [Member] \| Stock Options [Member] \| Year 1 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	25.00%
2015 Plan [Member] \| Stock Options [Member] \| Year 2 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	25.00%
2015 Plan [Member] \| Stock Options [Member] \| Year 3 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	25.00%
2015 Plan [Member] \| Stock Options [Member] \| Year 4 [Member]
Equity Incentive Plans [Abstract]
Vesting percentage	25.00%

Equity Incentive Plans, Stock Option Activity (Details) - Stock Options [Member] - $ / shares	6 Months Ended
	Aug. 03, 2019
Number of Options [Roll Forward]
Outstanding at beginning of period (in shares)	3,746,422
Granted (in shares)	289,729
Forfeited (in shares)	(18,813)
Exercised (in shares)	(535,891)
Outstanding at end of period (in shares)	3,481,447
Exercisable at end of period (in shares)	2,553,853
Weighted Average Exercise Price [Abstract]
Outstanding at beginning of period (in dollars per share)	$ 15.29
Granted (in dollars per share)	80.05
Forfeited (in dollars per share)	62.05
Exercised (in dollars per share)	14.13
Outstanding at end of period (in dollars per share)	20.61
Exercisable at end of period (in dollars per share)	$ 10.87
Weighted Average Remaining Contractual Term [Abstract]
Outstanding at end of period	5 years 2 months 12 days
Exercisable at end of period	4 years 1 month 6 days

Equity Incentive Plans, Weighted Average Assumptions (Details) - $ / shares	6 Months Ended
	Aug. 03, 2019	Aug. 04, 2018
Equity Incentive Plans [Abstract]
Weighted average grant date fair value per option granted (in dollars per share)	$ 24.97	$ 18.77
Risk-free interest rate	2.42%	2.70%
Expected dividend yield	0.00%	0.00%
Expected term	6 years 3 months	6 years 3 months
Expected volatility	25.88%	25.85%

Equity Incentive Plans, RSU Activity (Details) - Restricted Stock Units [Member]	6 Months Ended
	Aug. 03, 2019 $ / shares shares
Equity Incentive Plans [Abstract]
Vesting period	4 years
Number of Shares [Roll Forward]
Non-vested at beginning of period (in shares) \| shares	220,200
Granted (in shares) \| shares	58,990
Forfeited (in shares) \| shares	(799)
Vested (in shares) \| shares	(57,140)
Non-vested at end of period (in shares) \| shares	221,251
Weighted Average Grant Date Fair Value [Abstract]
Non-vested at beginning of period (in dollars per share) \| $ / shares	$ 35.75
Granted (in dollars per share) \| $ / shares	80.20
Forfeited (in dollars per share) \| $ / shares	75.90
Vested (in dollars per share) \| $ / shares	33.70
Non-vested at end of period (in dollars per share) \| $ / shares	$ 47.98
Minimum [Member]
Equity Incentive Plans [Abstract]
Cliff vesting period	1 year
Maximum [Member]
Equity Incentive Plans [Abstract]
Cliff vesting period	4 years

Equity Incentive Plans, Stock-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 03, 2019	Aug. 04, 2018	Aug. 03, 2019	Aug. 04, 2018
Stock-Based Compensation Expense [Abstract]
Total unrecognized compensation cost related to non-vested stock-based compensation arrangements	$ 20.0		$ 20.0
Weighted average period to recognize stock-based compensation expense			2 years 10 months 24 days
Selling, General and Administrative Expenses [Member]
Stock-Based Compensation Expense [Abstract]
Compensation expense	$ 2.4	$ 1.9	$ 4.6	$ 3.5

Subsequent Event (Details) - USD ($) $ in Millions	1 Months Ended	6 Months Ended
Subsequent Event (Details) - USD ($) $ in Millions	Sep. 04, 2019	Aug. 03, 2019	Mar. 26, 2019
Subsequent Event [Abstract]
Authorized repurchase of common stock			$ 100.0
Term of repurchase authorization		2 years
Subsequent Event [Member]
Subsequent Event [Abstract]
Number of shares repurchased (in shares)	241,231
Amount of shares repurchased	$ 13.5