|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified
|
3 Months Ended |
|
Apr. 28, 2012
|
May 28, 2011
|
| Cash flows from operating activities: |
|
|
| Net income (loss) |
$ (13,412) |
$ 1,891 |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
5,031 |
5,584 |
| Amortization of premium on investments |
(72) |
50 |
| Deferred income taxes |
0 |
|
| Stock-based compensation expense |
490 |
586 |
| Loss on disposal of assets |
15 |
|
| Impairment of store assets |
139 |
|
| Gain on investments, net |
(26) |
(8) |
| Changes in operating assets and liabilities: |
|
|
| Increase in accounts receivable |
(1,234) |
(3,172) |
| (Increase) decrease in merchandise inventories |
(5,000) |
4,403 |
| (Increase) decrease in prepaid expenses |
109 |
(1,127) |
| Decrease in income taxes receivable |
174 |
73 |
| Decrease in other assets |
98 |
40 |
| Decrease in accounts payable |
(2,355) |
(3,395) |
| Decrease in accrued liabilities |
(7,302) |
(3,530) |
| Decrease in lease termination fee liability |
(2,068) |
|
| Decrease in deferred lease incentives |
(683) |
(45) |
| Decrease in other liabilities |
(373) |
(170) |
| Net cash provided by (used in) operating activities |
(26,469) |
1,180 |
| Cash flows from investing activities: |
|
|
| Purchases of property, equipment and improvements |
(1,665) |
(3,464) |
| Proceeds from sale of furniture, fixtures and equipment |
23 |
|
| Purchases of investments |
|
(13,063) |
| Sales of investments |
9,041 |
22,087 |
| Net cash provided by investing activities |
7,399 |
5,560 |
| Cash flows from financing activities: |
|
|
| Shares redeemed for payroll taxes |
(22) |
|
| Dividends paid |
|
(2,137) |
| Net cash used in financing activities |
(22) |
(2,137) |
| Net increase (decrease) in cash and cash equivalents |
(19,092) |
4,603 |
| Cash and cash equivalents at beginning of period |
40,782 |
43,712 |
| Cash and cash equivalents at end of period |
$ 21,690 |
$ 48,315 |