Share-Based Compensation (Tables)
 6 Months Ended
Jul. 30, 2016
Share-based Compensation [Abstract]  
Schedule of Shared-based Compensation Expense
The following summarizes share-based compensation expense:
 
Thirteen Weeks Ended
 
Twenty-Six Weeks Ended
 
July 30, 2016
 
August 1, 2015
 
July 30, 2016
 
August 1, 2015
 
(in thousands)
Restricted stock units and restricted stock
$
2,695

 
$
6,451

 
$
6,000

 
$
9,058

Stock options
517

 
767

 
1,580

 
2,011

Total share-based compensation
$
3,212

 
$
7,218

 
$
7,580

 
$
11,069
Schedule of Share-based Compensation, Activity
The Company's activity with respect to stock options during the twenty-six weeks ended July 30, 2016 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, 2016
3,446

 
$
18.31

 
 
 
 
Granted
229

 
$
21.14

 
 
 
 
Exercised
(156
)
 
$
17.35

 
 
 
 
Forfeited or expired
(73
)
 
$
20.14

 
 
 
 
Outstanding, July 30, 2016
3,446

 
$
18.50

 
5.7
 
$
170

Expected to vest at July 30, 2016
558

 
$
18.27

 
8.5
 
$
39

Exercisable at July 30, 2016
2,858

 
$
18.53

 
5.2
 
$
131
Supplemental Options Data
The following table provides additional information regarding the Company's stock options:
 
Twenty-Six Weeks Ended
 
July 30, 2016

August 1, 2015
 
(in thousands, except per share amounts)
Weighted average grant date fair value of options granted (per share)
$
9.50

 
$
7.79

Total intrinsic value of options exercised
$
536

 
$
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
 
July 30, 2016
 
August 1, 2015
Risk-free interest rate (1)
1.60
%
 
1.60
%
Price volatility (2)
43.15
%
 
47.81
%
Expected term (years) (3)
6.54

 
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)
Primarily based on the historical volatility of the Company's common stock over a period consistent with the expected term of the stock options.
(3)
Beginning in 2016, the Company calculated the expected term assumption using the midpoint scenario, which combines historical exercise data with hypothetical exercise data for outstanding options, as the Company believes this data currently represents the best estimate of the expected term of new employee options.
(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 July 30, 2016 was as follows:
 
Number of
Shares 
Grant Date
Weighted Average
Fair Value Per Share
 
(in thousands, except per share amounts)
Unvested, January 31, 2016
2,212

$
16.66

Granted (1)
646

$
20.51

Performance Shares Adjustment (2)
(8
)
$
16.28

Vested
(771
)
$
17.31

Forfeited
(123
)
$
17.45

Unvested, July 30, 2016
1,956

$
17.62


(1)
There were approximately 0.3 million RSUs with three-year performance conditions granted in the first quarter of 2016. None of these RSUs are currently included as granted in the table above. The number of performance-based RSUs that are ultimately earned may vary from 0% to 200% of target depending on the achievement of predefined financial performance targets.
(2)
Relates to a change in estimate of RSUs with performance conditions granted in 2015. Currently, 123% of the number of shares granted in 2015 are expected to vest based on estimates against predefined financial performance targets.