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Unaudited Quarterly Financial Data
 12 Months Ended
Feb. 01, 2014
Quarterly Financial Data [Abstract]  
Unaudited Quarterly Financial Data
Unaudited Quarterly Financial Data
Summarized quarterly financial information for fiscal 2013 and 2012 is listed below (in thousands, except share data).
 
Fiscal 2013 Quarter Ended
 
May 4, 2013
 
August 3, 2013
 
November 2, 2013
 
February 1, 2014
Net sales
$
140,445

 
$
137,249

 
$
127,664

 
$
124,776

Gross margin
$
42,231

 
$
40,652

 
$
28,949

 
$
23,406

Net income (loss)
$
3,110

 
$
958

 
$
(14,910
)
 
$
(27,541
)
Net income (loss) per share
 
 
 
 
 
 
 
Basic
$
0.04

 
$
0.01

 
$
(0.17
)
 
$
(0.33
)
Diluted
$
0.04

 
$
0.01

 
$
(0.17
)
 
$
(0.33
)
Weighted-average number of shares of common stock outstanding
 
 
 
 
 
 
 
Basic
88,501,179

 
85,800,626

 
83,729,646

 
83,765,340

Diluted
88,503,407

 
85,975,029

 
83,729,646

 
83,765,340

Class A common stock market price data
 
 
 
 
 
 
 
High
$
3.39

 
$
5.06

 
$
4.47

 
$
3.44

Low
$
2.78

 
$
3.45

 
$
3.16

 
$
2.36


 
 
Fiscal 2012 Quarter Ended
 
April 28, 2012
 
July 28, 2012
 
October 27, 2012
 
February 2, 2013
Net sales
$
147,945

 
$
135,261

 
$
135,537

 
$
161,654

Gross margin
$
43,603

 
$
30,802

 
$
26,045

 
$
40,051

Net loss
$
(273
)
 
$
(12,369
)
 
$
(14,779
)
 
$
(85,810
)
Net income (loss) per share
 
 
 
 
 
 
 
Basic
$
0.00

 
$
(0.14
)
 
$
(0.17
)
 
$
(0.97
)
Diluted
$
0.00

 
$
(0.14
)
 
$
(0.17
)
 
$
(0.97
)
Weighted-average number of shares of common stock outstanding
 
 
 
 
 
 
 
Basic
88,486,977

 
88,585,063

 
88,877,993

 
88,859,277

Diluted
88,486,977

 
88,585,063

 
88,877,993

 
88,859,277

Class A common stock market price data
 
 
 
 
 
 
 
High
$
3.69

 
$
3.37

 
$
3.29

 
$
3.01

Low
$
3.16

 
$
2.66

 
$
2.72

 
$
2.66


The fiscal quarters ended May 4, 2013, August 3, 2013, November 2, 2013 and February 1, 2014, include $1.6 million, $0.3 million, $5.0 million and $8.0 million in charges, respectively, to record the impairment of certain retail store equipment and leasehold improvement assets.
The fiscal quarters ended April 28, 2012, July 28, 2012, October 27, 2012 and February 2, 2013, include $3.6 million, $9.0 million, $6.4 million and $8.0 million in charges, respectively, to record the impairment of certain retail store equipment and leasehold improvement assets.
The fiscal quarters ended October 27, 2012 and February 2, 2013, include $0.5 million and $6.6 million, respectively, of loss contingency charges for several litigation matters. The fiscal quarter ended May 4, 2013 includes a $3.5 million benefit to adjust the loss contingency charges for such litigation matters.
The fiscal quarters ended July 28, 2012 and October 27, 2012 includes $1.9 million and $0.1 million, respectively, of severance costs, net of stock forfeiture credits, resulting from the departure of the Company's previous chief executive officer. The fiscal quarter ended February 2, 2013 includes $1.0 million of severance costs, net of stock forfeiture credits, resulting from the departure of the Company's previous president and chief operating officer and $0.3 million of severance costs resulting from the workforce reduction on February 1, 2013. Additionally, the fiscal quarters ended October 27, 2012 and February 2, 2013 included $2.1 million and $0.3 million in professional fees to defend against a shareholder proxy solicitation to replace a majority of the Company's board members, which includes the $0.5 million charge to terminate the two investment banker agreements in the fiscal quarter ended February 2, 2013, offset by a $0.2 million benefit to adjust the amount of professional fees incurred. The proxy solicitation ultimately led to an agreement to replace four of the Company's seven board members during October 2012.
The fiscal quarter ended February 2, 2013 includes a $71.1 million increase to provision for income taxes in order to establish a valuation allowance against its deferred tax assets.