STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Jan. 31, 2016

STOCK-BASED COMPENSATION

Summary of Activity under Option and Stock Plans

	Shares		Weighted Average Exercise Price		Weighted Average Remaining Term (years)	Weighted Average Fair Value
Outstanding, February 1, 2013	926,224		$	14.34	5.39	$	5.93
Granted	303,000		$	21.32
Exercised	(309,074	)	$	12.20
Forfeited	(4,000	)	$	17.33
Outstanding, January 31, 2014	916,150		$	17.36	6.04	$	5.58
Granted	305,500		$	21.09
Exercised	(345,300	)	$	15.61
Forfeited	—		—
Outstanding, January 31, 2015	876,350		$	22.34	7.08	$	6.01
Granted	300,000		$	34.70
Exercised	(106,450	)	$	17.10
Forfeited	(6,000	)	$	17.33
Outstanding, January 31, 2016	1,063,900		$	26.38	6.36	$	6.91
Exercisable, January 31, 2016	763,900		$	23.11	6.41	$	6.10

Summary of Change in Number of Non-Vested Options to Purchase Shares of Common Stock

	Shares		Weighted Average Fair Value
Non-vested, February 1, 2013	388,500		$	5.67
Granted	303,000		$	4.40
Vested	(384,500	)	$	5.67
Forfeited (non-vested)	(4,000	)	$	5.71
Non-vested, January 31, 2014	303,000		$	4.40
Granted	305,500		$	7.14
Vested	(303,000	)	$	4.40
Forfeited (non-vested)	—		—
Non-vested, January 31, 2015	305,500		$	7.14
Granted	300,000		$	8.97
Vested	(305,500	)	$	7.23
Forfeited (non-vested)	—		—
Non-vested, January 31, 2016	300,000		$	8.97

Summary of Assumptions Used to Estimate Fair Value of Stock Options Granted

	2016	2015	2014
Risk-free interest rate	1.3%	1.3%	1.3%
Expected volatility	34.8%	33.7%	32.7%
Expected life	4.9 years	4.9 years	4.7 years
Dividend yield	2.0%	3.5%	3.4%