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Basis of Presentation (Tables)
 3 Months Ended
May 05, 2018
Accounting Policies [Abstract]  
Result of Applying the Modified Retrospective Method, Adjustments and Impact on Financial Statements
Further, as a result of applying the modified retrospective method, the following adjustments were made to accounts on the condensed consolidated balance sheet as of February 4, 2018 (in thousands):

 
 
February 3, 2018
 
ASC 606 Adjustments
 
February 4, 2018
Balance Sheet
 
 
 
 
 
 
Assets
 
 
 
 
 
 
Merchandise inventories
 
$
41,361

 
$
(482
)
 
$
40,879

Prepaid expenses and other current assets
 
2,715

 
482

 
3,197

 
 
 
 
 
 
 
Liabilities
 
 

 
 
 
 
Accrued liabilities and other current liabilities
 
26,201

 
(1,983
)
 
24,218

 
 
 
 
 
 
 
Equity
 
 

 
 
 
 
Retained earnings
 
34,993

 
1,983

 
36,976


Impact on Financial Statements
The following tables summarize the impacts of adopting ASC 606 on the Company’s condensed consolidated financial statements as of and for the quarter ended May 5, 2018 (in thousands):
Condensed Consolidated Balance Sheets
 
 
As reported
 
Balance without adoption of ASC 606
 
Effect of change
Higher/(lower)
Balance Sheet
 
 
 
 
 
 
Assets
 
 
 
 
 
 
Merchandise inventories
 
$
46,380

 
$
47,209

 
$
(829
)
Prepaid expenses and other current assets
 
4,806

 
3,977

 
829

 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
Accrued liabilities and other current liabilities
 
23,226

 
23,306

 
(80
)
 
 
 

 
 
 
 
Equity
 
 
 
 
 
 
Retained earnings
 
31,658

 
31,578

 
80


Condensed Consolidated Statement of Operations and Comprehensive Loss
 
 
As reported
 
Balance without adoption of ASC 606
 
Effect of change
Higher/(lower)
Statement of Operations and Comprehensive Loss
 
 
 
 
 
 
Net sales
 
$
85,901

 
$
85,821

 
$
80

Net loss
 
(5,319
)
 
(5,399
)
 
80

 
 
 
 
 
 
 
Net loss per share:
 
 
 
 
 
 
Basic
 
$
(0.14
)
 
$
(0.14
)
 
$
0.00

Diluted
 
$
(0.14
)
 
$
(0.14
)
 
$
0.00