Stock-Based Compensation (Tables)

12 Months Ended

Feb. 02, 2013

Assumptions Used to Estimate Fair Value of Stock Options Granted

The fair values of stock options granted in fiscal years 2012, 2011 and 2010 were estimated on the grant dates using the following assumptions:

	Fiscal Year Ended
	February 2, 2013	January 28, 2012	January 29, 2011
Expected option term(1)	5.0 years	5.0 years	5.0 years
Expected volatility factor(2)	57.6% - 62.9%	59.7%	61.0%
Risk-free interest rate(3)	0.6% - 0.8%	2.2%	1.0%
Expected annual dividend yield	0%	0%	0%

(1) The Company has limited historical information regarding expected option term. Accordingly, the Company determined the expected option term of the awards using the latest historical data available from comparable public companies and management’s expectation of exercise behavior.

(2) Stock volatility for each grant is measured using the weighted average of historical daily price changes of the Company’s competitors’ common stock over the most recent period equal to the expected option term of the Company’s awards.

(3) The risk-free interest rate is determined using the rate on treasury securities with the same term as the expected life of the stock option as of the grant date.

Stock Option Activity Under Stock Option Plan

The following table summarizes the Company’s stock option activity for fiscal year 2012 (aggregate intrinsic value in thousands):

	Stock Options			Grant Date Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in Years)		Aggregate Intrinsic Value(1)
Outstanding at January 28, 2012		1,540,000		$	11.34
Granted		730,500		$	15.60
Exercised		(92,125	)	$	8.85
Forfeited		(44,750	)	$	15.05
Outstanding at February 2, 2013		2,133,625		$	12.83		7.3	$	5,365
Exercisable at February 2, 2013		913,750		$	9.64		5.5	$	4,721

(1) Intrinsic value for stock options is defined as the difference between the market price of the Company’s Class A common stock on the last business day of the fiscal quarter and the weighted average exercise price of in-the-money stock options outstanding at the end of each fiscal period. The market value per share was $14.55 at February 1, 2013.

Summary of Status of Non-Vested Stock Options

A summary of the status of non-vested stock options as of February 2, 2013 and changes during fiscal years 2012, 2011 and 2010 are presented below:

	Shares			Weighted- Average Grant-Date Fair Value
Nonvested at January 30, 2010		560,375		$	4.93
Granted		106,500			5.06
Vested		(222,000	)		5.46
Nonvested shares forfeited		(15,500	)		4.69
Nonvested at January 29, 2011		429,375		$	4.70
Granted		578,000			8.52
Vested		(241,500	)		5.42
Nonvested shares forfeited		(9,250	)		6.41
Nonvested at January 28, 2012		756,625		$	7.37
Granted		730,500			9.01
Vested		(226,500	)		6.71
Nonvested shares forfeited		(40,750	)		8.15
Nonvested at February 2, 2013		1,219,875		$	8.44