|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
|
3 Months Ended |
|
Apr. 28, 2012
|
Apr. 30, 2011
|
| Cash flows from operating activities: |
|
|
| Net income |
$ 10,458 |
$ 9,514 |
| Adjustments to reconcile net income to net cash flows from operating activities: |
|
|
| Depreciation and amortization |
9,364 |
7,773 |
| Net loss on asset disposition |
13 |
219 |
| Provision for store closures and asset impairment |
24 |
232 |
| Stock-based compensation |
509 |
441 |
| Provision for uncollectible receivables |
212 |
(65) |
| LIFO reserve increase |
1,780 |
1,463 |
| Deferred income tax expense |
581 |
629 |
| Income tax benefit upon exercise of stock options |
26 |
9 |
| (Increase) decrease in operating assets: |
|
|
| Trade and non-trade receivables |
(2,127) |
2,259 |
| Insurance receivables |
(2) |
(4) |
| Inventories |
(30,220) |
(19,613) |
| Other assets |
101 |
1,348 |
| Increase in operating liabilities: |
|
|
| Accounts payable and accrued expenses |
4,034 |
19,710 |
| Income taxes payable |
5,319 |
2,131 |
| Other noncurrent liabilities |
1,009 |
505 |
| Net cash provided by operating activities |
1,081 |
26,551 |
| Cash flows from investing activities: |
|
|
| Capital expenditures |
(6,049) |
(15,050) |
| Proceeds from asset dispositions |
14 |
11 |
| Asset acquisition, net (primarily intangibles) |
(5,312) |
(1,632) |
| Net cash used in investing activities |
(11,347) |
(16,671) |
| Cash flows from financing activities: |
|
|
| Payments of indebtedness and capital lease obligations |
(88) |
(106) |
| Excess tax charges from stock-based compensation |
(26) |
(9) |
| Proceeds from exercise of stock options and employee stock purchase plan |
410 |
95 |
| Repurchase of shares |
(7,056) |
(25) |
| Cash dividends paid |
(2,285) |
(1,965) |
| Net cash used in financing activities |
(9,045) |
(2,010) |
| Increase (decrease) in cash and cash equivalents |
(19,311) |
7,870 |
| Cash and cash equivalents: |
|
|
| Beginning of year |
27,130 |
49,181 |
| End of period |
7,819 |
57,051 |
| Supplemental disclosures of cash flow information: |
|
|
| Interest paid |
137 |
70 |
| Income taxes paid |
810 |
1,079 |
| Non-cash investing and financial activities: |
|
|
| Assets acquired through term loan |
|
3,497 |
| Assets acquired through capital lease |
|
$ 135 |