Fair Value Measurements (Tables)

12 Months Ended

Jan. 31, 2015

Summary of Fair Value Assumptions for Derivative Liabilities

The fair value of the Series B Preferred shares was estimated using an option-pricing model that requires Level 3 inputs, which are highly subjective and determined using the following significant assumptions:



	January 31, 2015	February 1, 2014	February 2, 2013
Stock price	$2.75	$2.88	$2.02
Conversion price	$1.75	$1.75	$1.75
Expected volatility	77%	73%	68%
Expected term (in years)	6.9	7.9	8.9
Risk free interest rate	1.49%	2.40%	2.04%
Expected dividends	$—	$—	$—

Summary of Activity Recorded for Derivatives Using Level 3 Inputs

The following table presents the activity recorded for the derivative liability during the fiscal periods as follows:



	Fiscal Year Ended
	January 31, 2015			February 1, 2014		February 2, 2013
	(In thousands)
Beginning balance	$	30,720		$	20,082	$	20,076
(Gain) loss on change in fair value	(2,272		)	10,638		6
Ending balance	$	28,448		$	30,720	$	20,082

Details of Fair Values and Carrying Values for Mortgage Debt and Components of Long-Term Debt

The table below details the fair values and carrying values for mortgage debt and the components of long-term debt as of January 31, 2015, and February 1, 2014. The Company uses a discounted cash flow model to estimate the fair value of its debt for each reporting period, which contains certain Level 3 inputs, including but not limited to current market interest rates for similar long-term obligations. These fair value estimates are not necessarily indicative of the amounts that would be realized upon disposition of these financial instruments.



	January 31, 2015
	Carrying Value			Fair Value
	(In thousands)
Mortgage Debt	$	27,928		$	26,938
Term Loan	75,623			74,706
Term Loan discount	(8,586		)	(8,586		)
	$	94,965		$	93,058

	February 1, 2014
	Carrying Value			Fair Value
	(In thousands)
Mortgage Debt	$	27,978		$	28,982
Term Loan	70,293			69,252
Term Loan discount	(11,582		)	(11,582		)
	$	86,689		$	86,652