QUARTERLY FINANCIAL DATA

12 Months Ended

Feb. 01, 2020

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY FINANCIAL DATA

QUARTERLY FINANCIAL DATA (UNAUDITED)

In the opinion of management, the unaudited consolidated financial statements presented below contain all material adjustments, consisting of normal recurring accruals, necessary to present fairly the Company’s financial position and results of operations and have been prepared in a manner consistent with the audited financial statements contained herein. Due to the seasonal nature of the Company’s business, the results of operations in any given interim period are not indicative of operating results for a full fiscal year.

The following tables reflect quarterly consolidated statements of income for the periods indicated (unaudited):

	Fiscal Year Ended February 1, 2020
	First Quarter			Second Quarter		Third Quarter		Fourth Quarter
	(in thousands, except earnings per share)
Net sales	$	412,382		$	420,470	$	524,796	$	513,019
Gross profit	151,976			138,846		198,125		166,358
Selling, general, and administrative expenses	128,006			116,417		120,514		113,183
Asset impairment charges	348			121		839		4,731
Depreciation and amortization	18,584			18,472		18,821		18,911
Operating income	5,038			3,836		57,951		29,533
Income before provision for income taxes	3,327			1,558		55,796		27,736
Provision (benefit) for income taxes	(1,163		)	35		12,748		3,497
Net income	$	4,490		$	1,523	$	43,048	$	24,239
Diluted earnings per share	$	0.28		$	0.10	$	2.77	$	1.61
Diluted weighted average common shares outstanding	16,107			15,859		15,546		15,101
Cash dividends declared and paid per common share	$	0.56		$	0.56	$	0.56	$	0.56

	Fiscal Year Ended February 2, 2019
	First Quarter			Second Quarter		Third Quarter			Fourth Quarter
	(in thousands, except earnings per share)
Net sales	$	436,314		$	448,718	$	522,495		$	530,557
Gross profit	160,192			154,806		204,366			164,232
Selling, general, and administrative expenses	118,471			124,210		123,207			132,455
Asset impairment charges	1,257			3,979		396			464
Other (income) costs	—			—		(1,246		)	191
Depreciation and amortization	17,406			16,595		17,404			17,479
Operating income	23,058			10,022		64,605			13,643
Income before provision for income taxes	22,761			9,076		63,774			12,913
Provision (benefit) for income taxes	(8,776		)	1,590		13,861			889
Net income	$	31,537		$	7,486	$	49,913		$	12,024
Diluted earnings per share	$	1.78		$	0.45	$	3.03		$	0.74
Diluted weighted average common shares outstanding	17,734			16,715		16,496			16,277
Cash dividends declared and paid per common share	$	0.50		$	0.50	$	0.50		$	0.50