Share-Based Compensation (Tables)
 6 Months Ended
Aug. 01, 2015
Share-based Compensation [Abstract]  
Schedule of Shared-based Compensation Expense
The following summarizes share-based compensation expense:
 
Thirteen Weeks Ended
 
Twenty-Six Weeks Ended
 
August 1, 2015
 
August 2, 2014
 
August 1, 2015
 
August 2, 2014
 
(in thousands)
Restricted stock units and restricted stock
$
6,451

 
$
2,444

 
$
9,058

 
$
5,347

Stock options
767

 
1,488

 
2,011

 
4,920

Total share-based compensation
$
7,218

 
$
3,932

 
$
11,069

 
$
10,267
Schedule of Share-based Compensation, Activity
The Company's activity with respect to stock options during the twenty-six weeks ended August 1, 2015 was as follows:
 
Number of
Shares 
 
Grant Date
Weighted Average
Exercise Price Per Share
 
Weighted-Average Remaining Contractual Life (in years)
 
Aggregate Intrinsic Value
 
(in thousands, except per share amounts and years)
Outstanding, January 31, 2015
3,470

 
$
18.45

 
 
 
 
Granted
249

 
$
16.37

 
 
 
 
Exercised
(21
)
 
$
16.95

 
 
 
 
Forfeited or expired
(136
)
 
$
18.53

 
 
 
 
Outstanding, August 1, 2015
3,562

 
$
18.31

 
6.5
 
$
5,371

Expected to vest at August 1, 2015
821

 
$
17.21

 
8.4
 
$
1,960

Exercisable at August 1, 2015
2,705

 
$
18.67

 
5.8
 
$
3,324
Supplemental Options Data
The following provides additional information regarding the Company's stock options:
 
Twenty-Six Weeks Ended
 
August 1, 2015

August 2, 2014
 
(in thousands, except per share amounts)
Weighted average grant date fair value of options granted (per share)
$
7.79

 
$
8.51

Total intrinsic value of options exercised
$
19

 
$
—
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The fair value of stock options was estimated at the grant date using the Black-Scholes-Merton option pricing model with the following weighted-average assumptions:
 
Twenty-Six Weeks Ended
 
August 1, 2015
 
August 2, 2014
Risk-free interest rate (1)
1.60
%
 
1.90
%
Price volatility (2)
47.81
%
 
54.73
%
Expected term (years) (3)
6.25

 
6.25

Dividend yield (4)
—

 
—


(1)
Represents the yield on U.S. Treasury securities with a term consistent with the expected term of the stock options.
(2)
For the first two years following the initial public offering of the Company's common stock, this was based on the historical volatility of selected comparable companies over a period consistent with the expected term of the stock options because the Company had a limited history of being publicly traded. Comparable companies were selected primarily based on industry, stage of life cycle, and size. Beginning in May 2012, the Company began using its own volatility as an additional input in the determination of expected volatility.
(3)
Calculated utilizing the “simplified” methodology prescribed by Staff Accounting Bulletin No. 107 due to the lack of historical exercise data necessary to provide a reasonable basis upon which to estimate the term.
(4)
The Company does not currently plan on paying regular dividends.
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity
The Company's activity with respect to RSUs and restricted stock, including awards with performance conditions, for the twenty-six weeks ended August 1, 2015 was as follows:
 
Number of
Shares 
Grant Date
Weighted Average
Fair Value Per Share
 
(in thousands, except per share amounts)
Unvested, January 31, 2015
1,435

$
17.75

Granted (1)
1,285

$
16.39

Performance Shares Adjustment (2)
358

$
15.88

Vested
(505
)
$
18.10

Forfeited
(147
)
$
17.03

Unvested, August 1, 2015
2,426

$
16.72


(1)
Approximately 0.5 million RSUs with three-year performance conditions are included in this amount which represents 125% of the number of shares granted. This is based on current estimates against predefined financial performance targets ranging from 0% to 125%.
(2)
Relates to a change in estimate of RSUs with performance conditions granted in 2014. This amount represents 75% of the number of shares granted for which performance conditions are now expected to be met.