Fair Value Measurements

12 Months Ended

Jan. 30, 2016

Fair Value Disclosures [Abstract]

Fair Value Measurements

NOTE 12 — Fair Value Measurements

Assets that are Measured at Fair Value on a Recurring Basis:

The following tables provide information by level for the Company's available-for-sale securities that were measured at fair value on a recurring basis (in thousands):

			Fair Value Measurements
As of January 30, 2016:			Using Inputs Considered as
	Fair Value		Level 1		Level 2		Level 3
Short-term investments:
Corporate bonds		2,810		—		2,810		—
Municipal bonds		205		—		205		—
Total assets	$	3,015	$	—	$	3,015	$	—

			Fair Value Measurements
As of January 31, 2015:			Using Inputs Considered as
	Fair Value		Level 1		Level 2		Level 3
Short-term investments:
Certificates of deposit	$	4,078	$	—	$	4,078	$	—
Commercial paper		7,384		—		7,384		—
Corporate bonds		1,616		—		1,616		—
Municipal bonds		215		—		215		—
Total current assets		13,293		—		13,293		—
Long-term investments:
Corporate bonds		2,853		—		2,853		—
U.S. Agency securities		1,899		—		1,899		—
Total non-current assets		4,752		—		4,752		—
Total assets	$	18,045	$	—	$	18,045	$	—

As of January 30, 2016, the Company's available-for-sale securities were valued based on quoted prices for similar assets in active markets or quoted prices for identical or similar assets in markets in which there were fewer transactions.  There were no transfers of assets between Level 1 and Level 2 of the fair value measurement hierarchy during fiscal 2015. Consistent with Company policy, transfers into levels and transfers out of levels are recognized on the date of the event or when a change in circumstances causes a transfer.

Assets that are Measured at Fair Value on a Non-recurring Basis:

The following table summarizes certain information for non-financial assets for the fiscal periods ended January 30, 2016 and January 31, 2015, that are measured at fair value on a non-recurring basis in periods subsequent to an initial recognition period.  The Company places amounts into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date.

	Fiscal Year Ended		Fiscal Year Ended
Long-Lived Assets Held and Used (in thousands):	January 30, 2016		January 31, 2015
Carrying value	$	356	$	270
Fair value measured using Level 3 inputs	$	75	$	54
Impairment charge	$	281	$	216

All of the fair value measurements included in the table above were based on significant unobservable inputs (Level 3). The Company determines fair value for measuring assets on a non-recurring basis using a discounted cash flow approach as discussed in Note 1, Nature of Business and Significant Accounting Policies. In determining future cash flows, the Company uses its best estimate of future operating results, which requires the use of significant estimates and assumptions, including estimated sales, merchandise margin and expense levels, and the selection of an appropriate discount rate; therefore, differences in the estimates or assumptions could produce significantly different results. General economic uncertainty impacting the retail industry and continuation of recent trends in company performance makes it reasonably possible that additional long-lived asset impairments could be identified and recorded in future periods.

The fair value measurement of the long-lived assets encompasses the following significant unobservable inputs:

	Range
Unobservable Inputs	Fiscal 2015	Fiscal 2014
Weighted Average Cost of Capital (WACC)	15%	15%
Annual sales growth	0% to 8%	(3%) to 3.5%