Summary of Significant Accounting Policies (Tables)

12 Months Ended

Feb. 02, 2013

Estimated useful Life of Property and Equipment

 Depreciation is computed on the straight-line method over the assets’ estimated useful lives as follows:

Furniture and fixtures	Five to ten years
Equipment	Five to ten years
Leasehold improvements	Lesser of useful lives or related lease term
Hardware and software	Three to seven years

Changes in Carrying Value of Intangible Assets

Below is a table showing the changes in the carrying value of the Company’s intangible assets from January 28, 2012 to February 2, 2013:

(in thousands)	January 28, 2012		Additions		Impairment		Amortization			February 2, 2013
“Rochester” trademark	$	1,500	$	—	$	—	$	—		$	1,500
“Casual Male” trademark (1)		6,090		—		—		(1,980	)		4,110
Other intangibles(2)		1,064		—		—		(418	)		646
Total intangible assets	$	8,654		—	$	—	$	(2,398	)	$	6,256

(1) Beginning in fiscal 2012, the “Casual Male” trademark is being accounted for as a finite-lived asset.

(2) Approximately $50,000 of the $418,000 of amortization, which relates to the amortization of favorable lease commitments, was included in cost of goods sold (as part of occupancy costs) on the Consolidated Statement of Operations for fiscal 2012.

Expected Amortization Expense for Other Intangible Assets, Including Casual Male Trademark

Expected amortization expense for intangible assets, including our “Casual Male” trademark, for the next five fiscal years is as follows:

FISCAL YEAR	(in thousands)
2013	$	1,863
2014	$	1,085
2015	$	639
2016	$	441
2017	$	407

Components of Accumulated Other Comprehensive Income (Loss)

The components of the accumulated other comprehensive income (loss) at February 2, 2013 and January 28, 2012 are as follows:

(in thousands)	February 2, 2013			January 28, 2012
Foreign currency	$	267		$	233
Pension and SERP		(5,828	)		(5,949	)
Total accumulated other comprehensive loss	$	(5,561	)	$	(5,716	)

Reconciliation of Number of Shares Outstanding for Basic and Diluted Earnings Per Share

The following table provides a reconciliation of the number of shares outstanding for basic and diluted earnings per share:

	FISCAL YEARS ENDED
(in thousands)	February 2, 2013		January 28, 2012		January 29, 2011
Net Income:
Net income – Basic and Diluted	$	6,126	$	42,663	$	15,371
Weighted Average Shares Outstanding:
Basic weighted-average common shares outstanding		47,947		47,424		46,946
Stock options		438		620		619
Diluted weighted-average shares outstanding		48,385		48,044		47,565

Potential Common Stock Equivalents Excluded From Computation of Diluted Earnings Per Share

The following potential common stock equivalents were excluded from the computation of diluted earnings per share in each year because the exercise price of such options was greater than the average market price per share of common stock for the respective periods or the impact of ASC Topic 718, Compensation – Stock Compensation, primarily related to unearned compensation.

	FISCAL YEARS ENDED
(in thousands, except exercise prices)	February 2, 2013		January 28, 2012		January 29, 2011
Options		1,634		2,755		2,808
Ranges of exercise prices of such options	$	3.76 – $10.26	$	3.23 – $10.26	$	3.98 – $10.26

Valuation Assumptions for Stock Options

The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions used for grants in fiscal 2012, 2011 and 2010.

	FISCAL YEARS ENDED
	February 2, 2013	January 28, 2012	January 29, 2011
Expected volatility	55.0%	55.0%	55.0%
Risk-free interest rate	0.31%-0.67%	0.32%-1.89%	1.14%-1.55%
Expected life	3.0-4.5	2.5-4.5	2.1-3.0
Dividend rate	—	—	—
Weighted average fair value of options granted	$1.46	$1.53	$1.07