0001193125-20-243202 | 10-Q | XBRL Viewer | Dave Busters Entertainment INC

Print Document View Excel Document

Cover Page - shares	6 Months Ended
Cover Page - shares	Aug. 02, 2020	Sep. 04, 2020
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Aug. 02, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Document Quarterly Report	true
Entity Registrant Name	Dave & Buster’s Entertainment, Inc.
Entity Central Index Key	0001525769
Entity Filer Category	Large Accelerated Filer
Current Fiscal Year End Date	--02-02
Document Transition Report	false
Entity Interactive Data Current	Yes
Entity File Number	001-35664
Entity Incorporation, State or Country Code	DE
Entity Common Stock, Shares Outstanding		47,594,912
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Address, Address Line One	2481 Mañana Drive
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
City Area Code	214
Entity Address, Postal Zip Code	75220
Local Phone Number	357-9588
Entity Tax Identification Number	35-2382255
Entity Shell Company	false
Common Stock [Member]
Document Information [Line Items]
Trading Symbol	PLAY
Title of 12(b) Security	Common Stock $0.01 par value
Security Exchange Name	NASDAQ
Preferred Stock [Member]
Document Information [Line Items]
Trading Symbol	PLAY
Title of 12(b) Security	Preferred Stock Purchase Rights
Security Exchange Name	NASDAQ

Consolidated Balance Sheets - USD ($) $ in Thousands	Aug. 02, 2020	Feb. 02, 2020
Current assets:
Cash and cash equivalents	$ 224,305	$ 24,655
Inventories	31,189	34,477
Prepaid expenses	12,751	14,269
Income taxes receivable	23,805	2,331
Other current assets	934	3,245
Total current assets	292,984	78,977
Property and equipment (net of $739,805 and $686,824 accumulated depreciation as of August 2, 2020 and February 2, 2020, respectively)	872,010	900,637
Operating lease right of use assets	1,062,266	1,011,568
Deferred tax assets	21,491	7,639
Tradenames	79,000	79,000
Goodwill	272,650	272,636
Other assets and deferred charges	19,566	19,682
Total assets	2,619,967	2,370,139
Current liabilities:
Current installments of long-term debt	15,000	15,000
Accounts payable	59,539	65,359
Accrued liabilities	238,651	207,452
Income taxes payable	624	3,054
Total current liabilities	313,814	290,865
Deferred income taxes		19,102
Operating lease liabilities	1,285,533	1,222,054
Other liabilities	38,603	35,779
Long-term debt, net	731,646	632,689
Commitments and contingencies
Stockholders' equity:
Common stock, par value $0.01; authorized: 400,000,000 shares; issued: 60,422,212 shares at August 2, 2020 and 43,386,852 shares at February 2, 2020; outstanding: 47,594,912 shares at August 2, 2020 and 30,603,340 shares at February 2, 2020	604	434
Preferred stock, 50,000,000 authorized; none issued
Paid-in capital	526,253	339,161
Treasury stock, 12,827,300 and 12,783,512 shares as of August 2, 2020 and February 2, 2020, respectively	(595,728)	(595,041)
Accumulated other comprehensive loss	(12,077)	(8,369)
Retained earnings	331,319	433,465
Total stockholders' equity	250,371	169,650
Total liabilities and stockholders' equity	$ 2,619,967	$ 2,370,139

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Aug. 02, 2020	Feb. 02, 2020
Statement of Financial Position [Abstract]
Property and equipment, accumulated depreciation	$ 739,805	$ 686,824
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	60,422,212	43,386,852
Common stock, shares outstanding	47,594,912	30,603,340
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Treasury stock, shares	12,827,300	12,783,512

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 02, 2020	Aug. 04, 2019	Aug. 02, 2020	Aug. 04, 2019
Total revenues	$ 50,833	$ 344,599	$ 210,639	$ 708,181
Total cost of products	8,684	59,623	36,756	121,348
Operating payroll and benefits	13,756	80,927	57,493	163,800
Other store operating expenses	62,682	104,376	158,354	210,621
General and administrative expenses	9,278	15,991	23,841	32,837
Depreciation and amortization expense	35,160	32,745	70,512	63,886
Pre-opening costs	2,388	4,723	6,211	11,725
Total operating costs	131,948	298,385	353,167	604,217
Operating income (loss)	(81,115)	46,214	(142,528)	103,964
Interest expense, net	8,163	4,605	14,278	8,661
Income (loss) before provision (benefit) for income taxes	(89,278)	41,609	(156,806)	95,303
Provision (benefit) for income taxes	(30,676)	9,253	(54,660)	20,504
Net income (loss)	(58,602)	32,356	(102,146)	74,799
Unrealized foreign currency translation gain	304	134	(131)	(57)
Unrealized gain (loss) on derivatives, net of tax	1,372	(3,373)	(3,577)	(5,907)
Total other comprehensive income (loss)	1,676	(3,239)	(3,708)	(5,964)
Total comprehensive income (loss)	$ (56,926)	$ 29,117	$ (105,854)	$ 68,835
Net income (loss) per share:
Basic	$ (1.24)	$ 0.91	$ (2.59)	$ 2.07
Diluted	$ (1.24)	$ 0.90	$ (2.59)	$ 2.03
Weighted average shares used in per share calculations:
Basic	47,111,763	35,407,965	39,470,874	36,117,815
Diluted	47,111,763	36,015,710	39,470,874	36,803,001
Amusement and Other Revenues [Member]
Total revenues	$ 33,831	$ 206,678	$ 129,717	$ 422,039
Cost of amusement and other	4,025	22,689	14,753	45,660
Food and Beverage [Member]
Total revenues	17,002	137,921	80,922	286,142
Cost of food and beverage	$ 4,659	$ 36,934	$ 22,003	$ 75,688

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Cumulative effect of a change in accounting principle, net of tax	Common Stock [Member]	Paid-In Capital [Member]	Treasury Stock at Cost [Member]	Accumulated Other Comprehensive Loss [Member]	Retained Earnings [Member]	Retained Earnings [Member] Cumulative effect of a change in accounting principle, net of tax
Beginning balance at Feb. 03, 2019	$ 387,837	$ (145)	$ 432	$ 331,255	$ (297,129)	$ (683)	$ 353,962	$ (145)
Beginning balance, shares at Feb. 03, 2019			43,177,476		5,655,391
Net income (loss)	74,799						74,799
Unrealized foreign currency translation (loss) gain	(57)					(57)
Unrealized gain (loss) on derivatives, net of tax	(5,907)					(5,907)
Share-based compensation	3,732			3,732
Issuance of common stock	613		$ 1	612
Issuance of common stock, shares			159,649
Repurchase of common stock	(200,733)				$ (200,733)
Repurchase of common stock, shares					4,702,900
Dividends declared	(10,837)						(10,837)
Ending balance at Aug. 04, 2019	249,302		$ 433	335,599	$ (497,862)	(6,647)	417,779
Ending balance, shares at Aug. 04, 2019			43,337,125		10,358,291
Beginning balance at May. 05, 2019	360,125		$ 433	333,515	$ (361,186)	(3,408)	390,771
Beginning balance, shares at May. 05, 2019			43,323,049		6,958,291
Net income (loss)	32,356						32,356
Unrealized foreign currency translation (loss) gain	134					134
Unrealized gain (loss) on derivatives, net of tax	(3,373)					(3,373)
Share-based compensation	1,907			1,907
Issuance of common stock	177			177
Issuance of common stock, shares			14,076
Repurchase of common stock	(136,676)				$ (136,676)
Repurchase of common stock, shares					3,400,000
Dividends declared	(5,348)						(5,348)
Ending balance at Aug. 04, 2019	249,302		$ 433	335,599	$ (497,862)	(6,647)	417,779
Ending balance, shares at Aug. 04, 2019			43,337,125		10,358,291
Beginning balance at Feb. 02, 2020	169,650		$ 434	339,161	$ (595,041)	(8,369)	433,465
Beginning balance, shares at Feb. 02, 2020			43,386,852		12,783,512
Net income (loss)	(102,146)						(102,146)
Unrealized foreign currency translation (loss) gain	(131)					(131)
Unrealized gain (loss) on derivatives, net of tax	(3,577)					(3,577)
Share-based compensation	2,345			2,345
Issuance of common stock	184,917		$ 170	184,747
Issuance of common stock, shares			17,035,360
Repurchase of common stock	(687)				$ (687)
Repurchase of common stock, shares					43,788
Ending balance at Aug. 02, 2020	250,371		$ 604	526,253	$ (595,728)	(12,077)	331,319
Ending balance, shares at Aug. 02, 2020			60,422,212		12,827,300
Beginning balance at May. 03, 2020	192,635		$ 496	411,048	$ (595,077)	(13,753)	389,921
Beginning balance, shares at May. 03, 2020			49,578,351		12,786,624
Net income (loss)	(58,602)						(58,602)
Unrealized foreign currency translation (loss) gain	304					304
Unrealized gain (loss) on derivatives, net of tax	1,372					1,372
Share-based compensation	2,734			2,734
Issuance of common stock	112,579		$ 108	112,471
Issuance of common stock, shares			10,843,861
Repurchase of common stock	(651)				$ (651)
Repurchase of common stock, shares					40,676
Ending balance at Aug. 02, 2020	$ 250,371		$ 604	$ 526,253	$ (595,728)	$ (12,077)	$ 331,319
Ending balance, shares at Aug. 02, 2020			60,422,212		12,827,300

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended	6 Months Ended
	Aug. 04, 2019	Aug. 04, 2019
Statement of Stockholders' Equity [Abstract]
Dividends declared per share	$ 0.15	$ 0.30

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Aug. 02, 2020	Aug. 04, 2019
Cash flows from operating activities:
Net income (loss)	$ (102,146)	$ 74,799
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	70,512	63,886
Non-cash interest expense	2,201
Impairment of long-lived assets	13,727
Deferred taxes	(31,609)	4,659
Loss on disposal of fixed assets	417	826
Share-based compensation	2,345	3,732
Other, net	173	376
Changes in assets and liabilities:
Inventories	3,288	(94)
Prepaid expenses	2,089	(4,811)
Income tax receivable	(21,474)	311
Other current assets	2,311	(444)
Other assets and deferred charges	107	(1,163)
Accounts payable	6,646	(428)
Accrued liabilities	37,522	22,057
Income taxes payable	(2,430)	(7,362)
Other liabilities	2,817	346
Net cash provided by (used in) operating activities	(13,504)	156,690
Cash flows from investing activities:
Capital expenditures	(63,486)	(117,875)
Proceeds from sales of property and equipment	152	375
Net cash used in investing activities	(63,334)	(117,500)
Cash flows from financing activities:
Proceeds from debt	138,000	233,000
Payments of debt	(38,500)	(59,500)
Net proceeds from the issuance of common stock	182,207
Proceeds from the exercise of stock options	359	613
Repurchase of common stock under share repurchase program		(200,147)
Dividends paid	(4,891)	(10,837)
Repurchases of common stock to satisfy employee withholding tax obligations	(687)	(586)
Net cash provided by (used in) financing activities	276,488	(37,457)
Increase in cash and cash equivalents	199,650	1,733
Beginning cash and cash equivalents	24,655	21,585
Ending cash and cash equivalents	224,305	23,318
Supplemental disclosures of cash flow information:
Decrease in fixed asset accounts payable	(12,466)	(6,101)
Cash paid for income taxes, net	752	22,850
Cash paid for interest, net	$ 11,295	$ 8,050

Summary of Significant Accounting Policies

6 Months Ended

Aug. 02, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 1: Summary of Significant Accounting Policies

The accompanying unaudited consolidated financial statements include the accounts of Dave & Buster’s Entertainment, Inc. (referred to herein as the “Company”, “we,” “us” and “our”), any predecessor companies and its wholly-owned subsidiaries, Dave & Buster’s Holdings, Inc. (“D&B Holdings”), which owns 100% of the outstanding common stock of Dave & Busters, Inc. (“D&B Inc”), the operating company. All intercompany balances and transactions have been eliminated in consolidation. The Company, headquartered in Dallas, Texas, is a leading operator of high-volume entertainment and dining venues (“stores”) in North America for adults and families under the name “Dave & Buster’s”. The Company operates its business as one operating and one reportable segment. As of August 2, 2020, we owned and operated 137 stores located in 39 states, Puerto Rico and one Canadian province.

The Company operates on a 52 or

53-week

fiscal year that ends on the Sunday after the Saturday closest to January 31. Each quarterly period reported has 13 weeks. Fiscal 2020 and 2019, which end on January 31, 2021 and February 2, 2020, respectively, contain 52 weeks.

The Company’s financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States for interim financial information as prescribed by the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all the information and notes required by GAAP for complete financial statements. In the opinion of management, these financial statements contain all adjustments, consisting of normal recurring accruals, necessary to present fairly the financial position, results of operations and cash flows for the periods indicated. Our quarterly financial data should be read in conjunction with the audited financial statements and notes thereto for the year ended February 2, 2020, included in our Annual Report on Form

10-K

as filed with the SEC.

Going concern —

During

the period from March 14, 2020 to March 20, 2020, the Company

losed

100

% of its

137

operating stores in compliance with guidance and orders issued by federal, state and local governments to combat the spread of the

COVID-19

pandemic. The extent of impact of these conditions will be based in part on the duration of the store closures or

re-opening

of stores at full capacity and the timing and extent of customers

re-engaging

with the brand. During our first quarter, one store

re-opened

to the public with limited food and beverage offerings and two additional stores offered

off-premise

dining options. During our second quarter, we have progressively

re-opened

limited operations in an additional

stores in

states, Puerto Rico and Canada. Subsequent to the end of our second quarter, we

re-opened

one store and opened a new store located in Manchester, New Hampshire. As of September 4, 2020, 52 stores are closed due to jurisdictional restrictions. The Company is unable to determine whether, when or the manner in which the conditions surrounding the

COVID-19

pandemic will change, including when any restrictions or closure requirements will be lifted or potentially

re-imposed

in certain states or local jurisdictions, whether it will be able to successfully staff stores, and the degree to which it will be able to

re-engage

customers. These developments have caused a material adverse impact on the Company’s revenues, results of operations and cash flows, including the Company’s ability to meet its obligations when due. These conditions raise substantial doubt about the Company’s ability to continue as a going concern for a period of one year from the date the financial statements are issued.

The Company has taken several steps to reduce operating costs and to conserve cash. The Company initially furloughed nearly all its workforce, except a small team of essential personnel and temporarily reduced pay and benefits for the remaining employees for a twelve-week period. On March 18, 2020, the Company borrowed substantially all the remaining availability under its revolving credit facility, and the Company continues to actively manage its daily cash flows. During our first and second quarter, the Company obtained additional liquidity through the sale of common stock, which resulted in net proceeds of $182,207.

Additionally, the Company initiated ongoing discussions with landlords and other vendors to negotiate relief from cash payments under existing lease and trade payable obligations. As of August 2, 2020, a total of 92 rent relief agreements related to our operating locations and corporate headquarters were executed, which generally provide for full deferral for three months beginning April 2020, with partial deferral continuing for periods of up to six months, at approximately 50% of those locations. We have also been successful in negotiating extended and reduced payment terms with several vendors.

Effective April 14, 2020, the Company negotiated an amendment to its existing credit facility, which included relief from compliance with financial covenants for the periods ended May 3, 2020, August 2, 2020 and November 1, 2020. During the financial covenant suspension period, the Company is required to maintain a minimum liquidity amount of $30,000. If the Company is not in compliance with financial covenants after the suspension period or some other event of default arises, the Company’s lenders could instruct the administrative agent under the existing credit facility to exercise remedies including declaring the principal of and accrued interest on all outstanding indebtedness due and payable, terminating all remaining commitments and obligations under the revolving credit facility and requiring the posting of cash collateral in respect of 103%

the outstanding letters of credit under the revolving credit facility. Additionally, the full amount due under the interest rate swap

agreements would become due. Although the lenders under the existing credit facility may waive the default or forebear the exercise of remedies, they are not obligated to do so. Failure to obtain additional waivers would have a material adverse effect on the Company’s liquidity, financial condition and results of operations and may result in filing a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code to implement a restructuring plan.

The consolidated financial statements have been prepared assuming the Company will continue as a going concern.

The preparation of consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosures of contingent assets and liabilities at the date of the consolidated financial statements and for the period then ended. Actual results could differ from those estimates. Operating results for the

twenty-six

weeks ended August 2, 2020 are not necessarily indicative of results that may be expected for any other interim period or for the fiscal year ending January 31, 2021.

Cash and cash equivalents

— We consider transaction settlements in process from credit card companies and all highly-liquid investments with

original maturities of three months or less to be cash equivalents. Our cash management system provides for the daily funding of all major bank disbursement accounts as checks are presented for payment. Under this system, outstanding checks in excess of the cash balances at certain banks creates book overdrafts. There was no book overdraft as of August 2, 2020. A book overdraft of $14,026 is presented in “Accounts payable” in the Consolidated Balance Sheets as of February 2, 2020. Changes in the book overdraft position are presented within “Net cash provided by

(used in)

operating activities” within the Consolidated Statements of Cash Flows.

Fair value of financial instruments

— Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an

orderly transaction between market participants at the measurement date under current market conditions. In determining fair value, the accounting standards establish a three-level hierarchy for inputs used in measuring fair value as follows: Level One inputs are quoted prices available for identical assets or liabilities in active markets; Level Two inputs are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; and Level Three inputs are unobservable and reflect management’s own assumptions.

The carrying amounts of cash and cash equivalents, accounts and notes receivable, accounts payable, and other current liabilities approximate fair value because of their short-term nature. We believe that the carrying amount of our credit facility approximates its fair value because the interest rates reflect current market conditions. The fair value of the Company’s credit facility was determined to be a Level Two instrument as defined by GAAP. The fair value of the Company’s interest rate swap is determined based upon Level Two inputs which includes valuation models as reported by our counterparties. These valuation models are based on the present value of expected cash flows using forward rate curves.

Non-financial

assets and liabilities recognized or disclosed at fair value in the consolidated financial statements on a nonrecurring basis include such items as property and equipment,

right-of-use

(“ROU”) assets, goodwill, tradenames and other assets.

The disruption in operations and reduction in revenues have led the Company to consider the impact of the

COVID-19

pandemic on the recoverability of its property and equipment and ROU assets for operating leases.

During the first quarter

fiscal

2020, each store’s past and present operating performance was reviewed in combination with projected future results primarily through projected undiscounted cash flows that included management’s current expectation of future financial impacts from

COVID-19.

If the store’s assets

were

not

determined to be

recoverable

through comparison of the asset’s carrying value to its undiscounted cash flows, the Company compared the carrying amount of each store’s assets to its fair value as estimated by management to calculate the impairment amount The fair value of the store’s assets is generally determined using a discounted cash flow projection model, which is based on Level Three inputs. Store asset impairment charges represent the excess of the carrying amount over the estimated fair value of the store asset.

The Company recorded an impairment charge for its long-lived assets, including ROU assets, of $6,746 during the

first qu

ter of fis

2020, primarily driven by the expected impact of the

COVID-19

pandemic on future cash flows of specific stores.

During the second quarter of fiscal 2020, the Company did not identify additional triggering events which would require a change in management’s estimate regarding the recoverability of store asset values, and

dditional

impairment related to our operating stores was recognized

The Company has determined no events and circumstances existed during the

twenty-six

week

ended August 2, 2020 that would indicate it is more likely than not that its goodwill or tradename are impaired. The ultimate severity and longevity of the

COVID-19

pandemic is unknown, and therefore, it is possible that impairments could be identified in future periods, and such amounts could be material.

Additionally, the Company

is c

ontinu

ing

discussions to terminate or delay possession on several executed lease contracts that have not yet commenced. The Company is also curtailing several potential new store projects that were in the early stage of development. During the thirteen and

twenty-six

weeks ended August 2, 2020, we recorded an impairment loss and related contract termination costs of $2,178 and $6,981

related to these projects, which is included in “Other store operating expenses” in the Consolidated Statements of Comprehensive Income (Loss).

Interest rate swaps

— The Company entered into three interest rate swap agreements to manage our exposure to interest rate movements on our

variable rate credit facility. The agreements entitle the Company to receive at specified intervals, a variable rate of interest based on

one-month

LIBOR in exchange for the payment of a fixed rate of interest throughout the life of the agreements. The notional amount of the swap agreements total $350,000 and the fixed rate of interest for all agreements is 2.47%. The agreements became effective on February 28, 2019 and mature on August 17, 2022, which is the maturity date of our credit facility.

The Company initially designated its interest rate swap agreements as a cash flow hedge and accounted for the underlying activity in accordance with hedge accounting. Effective April 14, 2020, the Company amended its existing credit facility agreement to obtain relief from its financial covenants, and as a result, the variable interest rate terms were modified to create an interest rate floor

1.00%. Accordingly, and as a result of the current forward interest rate curve, the Company discontinued the hedging relationship as of April 14, 2020

(de-designation

date). Given the continued existence of the hedged interest payments, the Company will reclassify its accumulated other comprehensive

loss

of $

17,609

as of the de-

gnation

date

into “Interest expense, net” using a straight-line approach over the remaining life of the originally designated hedging relationship.

The

amount of

pre-tax

losses in accumulated other comprehensive loss that was reclassified into interest expense subsequent to the

de-designation

date was $

1,887

and $

2,201

for the thirt

een and twenty

-six weeks ended August 2, 2020

, respectively, and the Company expects to reclassify $

7,547

within the next twelve months. Effective with the

de-designation,

any gain or loss on the derivatives are recognized in earnings in the period in which the change occurs. For the thirteen and

twenty-six

weeks ended August 2, 2020, a loss of $

976

and $

1,796

was recognized,

respectively,

which

are

included in “Other store operating expenses” in the Consolidated Statements of Comprehensive Income (Loss).

Prior to the

de-designation,

changes in the fair values of the interest rate swaps were recorded as a component of other comprehensive loss until the interest payments being hedged were recorded as interest expense, at which time the amounts in accumulated other comprehensive loss were reclassified as an adjustment to interest expense. Cash flows related to the interest rate swaps were included as component of interest expense and in operating activities.

Credit risk related to the failure of the our counterparties to perform under the terms of the swap agreements is minimized by entering into transactions with carefully selected, credit-worthy parties and the fact that the swap contracts are distributed among several financial institutions to reduce the concentration of credit risk. Our swap agreements with our derivative counterparties contain a provision where if the Company defaults on any of its indebtedness, and repayment of the indebtedness has been accelerated, the Company could also be declared in default on its derivative obligations.

The following derivative instruments were outstanding as of the end of the periods indicated:


			Fair Value
	Balance Sheet Location		August 2, 2020			February 2, 2020
Interest rate swaps		Accrued liabilities	$	(8,215	)	$	(3,518	)
Interest rate swaps		Other liabilities		(8,724	)		(6,967	)

Total derivatives (1)			$	(16,939	)	$	(10,485	)

(1)	The balance at August 2, 2020 relates to our swap agreements after hedge accounting was discontinued, effective April 14, 2020.

The following table summarizes the activity in accumulated other comprehensive loss related to our derivative instruments:


	Thirteen Weeks Ended						Twenty-six Weeks Ended
	August 2, 2020			August 4, 2019			August 2, 2020			August 4, 2019
Amount of loss recorded in accumulated other comprehensive income	$	—			4,668		$	7,602			8,140
Amount of loss reclassified into income (1)	$	(1,887	)		(27	)	$	(2,680	)		(12	)
Income tax expense (benefit) in accumulated other comprehensive income	$	515			(1,268	)	$	(1,345	)		(2,221	)

(1)	Amounts reclassified into income are included in “Interest expense, net” in the Consolidated Statements of Comprehensive Income (Loss).

Revenue recognition

— Amusement revenues are primarily recognized upon utilization of game play credits on power cards purchased and used by customers to activate video and redemption games. Redemption games allow customers to earn tickets, which may be redeemed for prizes in our WIN! area. We have deferred a portion of amusement revenues for the estimated unfulfilled performance obligations based on an estimated rate of future use by customers of unused game play credits and the material right provided to customers to redeem tickets in the future for prizes. During the thirteen and twenty-six weeks ended August 2, 2020, we recognized revenue of approximately $

2,500 and $

12,100

, respectively, related to the amount in deferred amusement revenue as of the end of fiscal 2019.

In jurisdictions where we do not have a legal obligation to remit unredeemed gift card balances to a legal authority, we recognize revenue on unredeemed gift cards in proportion to the pattern of redemption by the customers. During the thirteen and

twenty-six

weeks ended August 2, 2020, we recognized revenue of approximately $

140

and $1,440, respectively, related to the amount in deferred gift card revenue as of the end of fiscal 2019, of which approximately $

and $210 was breakage revenue.

Stockholders’ equity

— Our Board

of Directors has approved a share repurchase program under which the Company may repurchase shares on the open market, through privately negotiated transactions and through trading plans. The total share repurchase authorization is $800,000 and the share repurchase authorization expires at the end of fiscal 2020. During the

twenty-six

week

ended August 2, 2020, the Company indefinitely suspended all share repurchase activity. As of August 2, 2020, we have approximately $172,820 of share repurchase authorization remaining under the current plan.

In our consolidated financial statements, the Company treats shares withheld for tax purposes on behalf of our employees in connection with the vesting of time-based and performance restricted stock units as common stock repurchases because they reduce the number of shares that would have been issued upon vesting. These withheld shares of common stock are not considered common stock repurchases under our authorized common stock repurchase plan. During the

twenty-six

weeks ended August 2, 2020 and August 4, 2019, we withheld 43,788 and 11,336 shares of common stock to satisfy $687 and $586 of employees’ tax obligations, respectively. The share activity in the

twenty-six

weeks ended August 2, 2020 includes the settlements of $2,351 cash obligations through the issuance of 150,455 shares of common stock.

Effective March 18, 2020, the Board of Directors of the Company adopted a

364-day

duration Shareholder Rights Plan (the “Rights Plan”) and declared a dividend of one preferred share purchase right for each outstanding share of common stock to shareholders of record on March 30, 2020 to purchase from the Company

one-ten

thousandth of a share of Series A Junior Participating Preferred Stock, par value $0.01 per share, of the Company for an exercise price of $45.00 once the rights become exercisable, subject to adjustment as provided in the related rights agreement.

On April 14, 2020, pursuant to an open market sale agreement, the Company sold 6,149,936 shares of its common stock at a price of $12.20 per share, for proceeds of $75,000, prior to deducting offering expenses related to the offering. On May 4, 2020, the Company entered into an underwriting agreement, pursuant to which it sold 9,578,545 shares of its common stock at a price of $10.44 per share, and on May 18, 2020, the underwriter exercised its over-allotment option for an additional 1,014,871 shares at $10.44 per share, resulting in additional proceeds of $110,600 prior to deducting offering costs.

On June 23, 2020, shareholders approved a proposal to amend our 2014 Omnibus Incentive Plan (“Plan”) to increase the number of shares available for awards under the Plan by 3,000,000 shares.

Recently adopted accounting guidance

— In

June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU

2016-13

, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,

which requires measurement and recognition of expected versus incurred losses for financial assets held. The guidance primarily relates to our credit card and tenant incentive receivables. The Company adopted this standard as of the beginning of fiscal year 2020, and the adoption did not have a material impact on our consolidated financial statements.

In January 2017, the FASB issued ASU

2017-04

, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment,

which eliminates the requirement to calculate the implied fair value of goodwill if the fair value of a reporting unit is less than the carrying amount of the reporting unit. Instead, if the carrying amount of a reporting unit exceeds its fair value, an impairment loss will be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. The Company adopted this standard as of the beginning of fiscal year 2020, and the adoption did not have a material impact on our consolidated financial statements.

In August 2018, the FASB issued ASU

2018-13,

Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement

, which eliminates, modifies and adds disclosure requirements for fair value measurements. The Company adopted this standard as of the beginning of fiscal year 2020, and the adoption did not have a material impact on our consolidated financial statements.

Recent accounting pronouncements

— In

December 2019, the FASB issued ASU

2019-12,

Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes

, which removes certain exceptions related to the approach for

intraperiod

tax allocations, the calculation of income taxes in interim periods, and the recognition of deferred taxes for taxable goodwill. The guidance is effective for fiscal years beginning after December 15, 2020 and for interim periods within those years, with early adoption permitted. The Company is currently assessing the impact of this new standard on our consolidated financial statements.

In March 2020, the FASB issued ASU

2020-04,

Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Reform on Financial Reporting

, which provides temporary optional expedients and exceptions to the current guidance for contract modifications and hedging relationships through December 31, 2022, that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. A contract modification resulting from reference rate reform may be accounted for as a continuation of the existing contract rather than the creation of a new contract. Additionally, changes in the critical terms of hedging relationships, caused by reference rate reform, should not result in the

de-designation

of the instrument, provided certain criteria are met. As of the end of the first quarter of fiscal 2020, the Company’s exposure to LIBOR rates included its senior credit facility and swap agreements. The Company is currently evaluating the impact of this new standard on our consolidated financial statements.

Accrued Liabilities

6 Months Ended

Aug. 02, 2020

Other Liabilities Disclosure [Abstract]

Accrued Liabilities

Note 2: Accrued Liabilities

Accrued liabilities consist of the following as of the end of each period:


	August 2, 2020		February 2, 2020
Deferred amusement revenue	$	78,159	$	75,113
Current portion of operating lease liabilities, net (1)		52,636		45,611
Rent payable (note 4)		31,589		—
Variable rent liabilities (note 4)		9,037		1,331
Deferred gift card revenue		10,832		11,253
Property taxes		9,936		7,226
Compensation and benefits		8,664		23,421
Current portion of derivatives		8,215		3,518
Current portion of long-term insurance		6,200		6,500
Utilities		4,219		4,442
Customer deposits		1,840		4,324
Inventory liabilities		1,737		2,179
Sales and use taxes		973		4,000
Dividend payable		—		4,891
Other		14,614		13,643

Total accrued liabilities	$	238,651	$	207,452

(1)	The balance of leasehold incentive receivables of $2,231 and $6,339 at August 2, 2020 and February 2, 2020, respectively, is reflected as a reduction of the current portion of operating lease liabilities.

Debt

6 Months Ended

Aug. 02, 2020

Debt Disclosure [Abstract]

Debt

Note 3: Debt

Long-term debt consists of the following as of:


	August 2, 2020			February 2, 2020
Credit facility — term	$	258,750		$	266,250
Credit facility — revolver		489,000			382,000

Total debt outstanding		747,750			648,250
Current installments — term		(15,000	)		(15,000	)
Debt issuance costs — term		(1,104	)		(561	)

Long-term debt, net	$	731,646		$	632,689

On August 17, 2017, we entered into a senior secured credit facility that provides a $300,000 term loan facility and a $500,000 revolving credit facility with a maturity date of August 17, 2022. The $500,000 revolving credit facility includes a $35,000 letter of credit

sub-facility

and a $15,000 swing loan

sub-facility.

The revolving credit facility is available to provide financing for general purposes. Principal payments on the term loan facility are $3,750 per quarter through maturity, when the remaining balance is due. Our current credit facility is secured by the assets of D&B Inc and is unconditionally guaranteed by D&B Holdings and each of its direct and indirect domestic wholly-owned subsidiaries. As of August 2, 2020, we had letters of credit outstanding of $9,686 and an unused commitment balance of $1,314 under of revolving credit facility.

The interest rates per annum applicable to loans, other than swing loans, under our existing credit facility are currently set based on a defined LIBOR rate plus an applicable margin. Swing loans bear interest at a base rate plus an applicable margin.

The loans bear interest subject to a pricing grid based on a total leverage ratio, at one-month LIBOR plus a spread ranging from 1.25% to 2.00% for the term loans and the revolving loans.

Our credit facility contains restrictive covenants that, among other things, place certain limitations on our ability to incur additional indebtedness, make loans or advances to subsidiaries and other entities, pay dividends, acquire other businesses or sell assets. In addition, our credit facility requires us to maintain certain financial ratio covenants.

Effective April 14, 2020, we amended our existing credit facility, which included relief from compliance with financial covenants for the quarterly periods ended May 3, 2020, August 2, 2020 and November 1, 2020. During the financial covenant suspension period, a $30,000 liquidity covenant was added as well as certain additional reporting requirements, and the termination of additional borrowings under our revolving credit facility during the suspension period. The interest rate increased to LIBOR plus 2.00% with a LIBOR floor of 1.00%. For the

twenty-six

weeks ended August 2, 2020,

and August 4, 2019, the Company’s weighted average interest rate on outstanding borrowings was 3.98% and 4.11%, respectively. In connection with the amendment, we incurred debt costs of $2,000, which are being amortized over the life of the credit facility. These costs are payable at the maturity date of the credit facility, with earlier payment required in the event of certain conditions, as defined in the agreement.

Interest expense, net

— The following table sets forth our recorded interest expense, net for the periods indicated:


	Thirteen Weeks Ended					Twenty-six Weeks Ended
	August 2, 2020		August 4, 2019			August 2, 2020			August 4, 2019
Interest expense on credit facilities	$	5,865		4,708		$	11,163			8,903
Interest associated with swap agreements		1,887		27			2,680			12
Amortization of issuance cost		411		198			654			396
Interest income		—		(25	)		(22	)		(51	)
Capitalized interest		—		(303	)		(197	)		(599	)

Total interest expense, net	$	8,163	$	4,605		$	14,278		$	8,661

Leases

6 Months Ended

Aug. 02, 2020

Leases

Leases

Note 4: Leases

We currently lease the building or site for our stores, corporate office and warehouse space under facility operating leases. These leases typically have initial terms ranging from ten to twenty years and include one or more options to renew. When determining the lease term, we include option periods for which renewal is reasonably certain. Most of the leases require us to pay property taxes, insurance and maintenance of the leased assets. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. Operating leases also includes certain equipment leases that have a term in excess of one year. Certain facility leases also have provisions for additional contingent rentals based on revenues.

Operating lease cost, variable lease cost and short-term lease cost related primarily to our facilities is included in “Other store operating expenses” for our operating stores,

“Pre-opening

costs” for our stores not yet operating, or “General and administrative expenses” for our corporate office and warehouse, in the Consolidated Statements of Comprehensive Income (Loss).

The components of lease expense, including variable lease costs primarily consisting of common area maintenance charges and property taxes, are as follows for the fiscal year ended:


	Thirteen Weeks Ended				Twenty-six Weeks Ended
	August 2, 2020		August 4, 2019		August 2, 2020		August 4, 2019
Operating lease cost	$	33,321		30,448	$	66,884		60,240
Variable lease cost		5,688		6,713		13,054		14,643
Short-term lease cost		140		116		227		217

Total	$	39,149	$	37,277	$	80,165	$	75,100

During the

twenty-six

weeks ended August 2, 2020, the Company entered into 92 rent relief agreements with our respective landlords on operating locations and our corporate headquarters. Under these agreements, certain rent payments will be abated, deferred or modified without penalty for various periods, generally providing for full deferral for three months beginning April 2020, with partial deferrals continuing for periods of up to six months at approximately 50% of those locations. The Company has elected to account for lease concessions and deferrals resulting directly from

COVID-19

as though the enforceable rights and obligations to the deferrals existed in the respective contracts at lease inception and will not account for the concessions as lease modifications, unless the concession results in a substantial increase in the Company’s obligations. During the

twenty-six

weeks ended August 2, 2020, 84 of our 92 rent relief agreements qualified for this accounting election, and the remaining eight agreements were treated as lease modifications, primarily due to a significant extension of the lease term. Further, as a result of the

COVID-19

pandemic and its impact on our financial condition, the Company has chosen not to pay the majority of its remaining facility operating lease obligations as they become due for properties without rent relief agreements as of the end of the second quarter. As of August 2, 2020, we have bifurcated our current operating lease liabilities into the portion that remains subject to accretion and the portion that is accounted for as a deferral of payments or as short payments.

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Aug. 02, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 5: Commitments and Contingencies We are subject to certain legal proceedings and claims that arise in the ordinary course of our business, including claims alleging violations of federal and state law regarding workplace and employment matters, discrimination, slip-and-fall and other guest-related incidents, and similar matters. In the opinion of management, based upon consultation with legal counsel, the amount of ultimate liability with respect to such legal proceedings and claims will not materially affect the consolidated results of our operations or our financial condition. Legal costs related to such claims are expensed as incurred. The Company is currently a defendant in several lawsuits filed in courts in California alleging violations of California Business and Professions Code, industry wage orders, wage-and-hour laws and rules and regulations pertaining primarily to the failure to pay proper regular and overtime wages, failure to pay for missed meals and rest periods, pay stub violations, failure to pay all wages due at the time of termination and other employment related claims (the “California Cases”). Some of the California Cases purport or may be determined to be class actions or Private Attorneys General Act representative actions and seek substantial damages and penalties. With respect to a portion of the California Cases, the Company has estimated and accrued for the most likely amount of loss. Where the Company has determined that a loss is reasonably possible but not probable, the Company is unable to estimate the amount or range of the reasonably possible loss due to the inherent difficulties of predicting the outcome of uncertainties regarding legal proceedings. The Company’s assessments are based on assumptions that have been deemed reasonable by management, but that may prove to be incomplete or inaccurate, and unanticipated events and circumstances may occur that might cause the Company to change those estimates and assumptions. Management’s assessment of these California Cases could change because of future determinations or the discovery of facts that are not presently known. Accordingly, the ultimate costs of resolving these cases may be substantially higher or lower than estimated. The Company is aggressively defending these cases.

Earnings per share

6 Months Ended

Aug. 02, 2020

Earnings Per Share [Abstract]

Earnings per share

Note 6: Earnings per share

Potential dilutive shares consist of the incremental common shares issuable upon the exercise of outstanding stock options (both vested and unvested), unvested time-based restricted stock units (RSU’s) and unvested performance RSU’s to the extent performance measures were attained as of the end of the reporting period, calculated using the treasury-stock method. Potential dilutive shares are excluded from the computation of earnings per share (“EPS”) if their effect is anti-dilutive. Stock options for which the exercise price exceeds the average market price over the period are anti-dilutive and, accordingly, are excluded from the calculation. The weighted average anti-dilutive options excluded from the calculation of common equivalent shares were 160,967 and 97,502 in the thirteen and

twenty-six

weeks ended August 4, 2019.

The following table sets forth the computation of EPS, basic and diluted for the periods indicated:


	Thirteen Weeks			Thirteen Weeks
	Ended			Ended
	August 2, 2020			August 4, 2019
Numerator:
Net income (loss)	$	(58,602	)	$	32,356
Denominator:
Weighted average number of common shares outstanding (basic)		47,111,763			35,407,965
Weighted average dilutive impact of equity-based awards (1)		—			607,745
Weighted average number of common and common equivalent shares outstanding (diluted)		47,111,763			36,015,710
Net income (loss) per share:
Basic	$	(1.24	)	$	0.91
Diluted	$	(1.24	)	$	0.90


	Twenty-Six Weeks Ended August 2, 2020			Twenty-Six Weeks Ended August 4, 2019
Numerator:
Net income (loss)	$	(102,146	)	$	74,799
Denominator:
Weighted average number of common shares outstanding (basic)		39,470,874			36,117,815
Weighted average dilutive impact of equity-based awards (1)		—			685,186
Weighted average number of common and common equivalent shares outstanding (diluted)		39,470,874			36,803,001
Net income (loss) per share:
Basic	$	(2.59	)	$	2.07
Diluted	$	(2.59	)	$	2.03

(1)	Due to the net loss for the thirteen and twenty-six weeks ended August 2, 2020, zero incremental shares are included because the effect would be anti-dilutive.

Share-Based Compensation

6 Months Ended

Aug. 02, 2020

Share-based Payment Arrangement [Abstract]

Share-Based Compensation

Note 7: Share-Based Compensation

Compensation expense related to stock options, time-based and performance-based RSU’s is included in general and administrative expenses and is as follows:


	Thirteen Weeks Ended				Twenty-six Weeks Ended
	August 2, 2020		August 4, 2019		August 2, 2020		August 4, 2019
Stock options	$	290		804	$	830		1,563
RSU’s		2,444		1,103		1,515		2,169

Share-based compensation expense	$	2,734	$	1,907	$	2,345	$	3,732

Transactions related to stock option awards during the

twenty-six

weeks ended August

2020

were as follows:


	2014 Stock Incentive Plan					2010 Stock Incentive Plan
	Number			Wtd. Avg.		Number			Wtd. Avg.
	of Options			Exercise Price		of Options			Exercise Price
Outstanding at February 2, 2020		1,323,495		$	36.97		266,900		$	6.72
Granted		—			—		—			—
Exercised		—			—		(79,142	)		4.54
Forfeited		(82,741	)		38.60		—			—

Outstanding at August 2, 2020		1,240,754		$	36.86		187,758		$	7.64

Exercisable at August 2, 2020		1,037,513		$	34.49		187,758		$	7.64

The total intrinsic value of options exercised during the

twenty-six

weeks ended August

2020

was $

792

. The unrecognized expense related to our stock option plan totaled approximately $

1,157

as of August

2020

and will be expensed over a weighted average period of

1.5

years.

Transactions related to time-based and performance-based RSU’s during the

twenty-six

weeks ended August

2020

, were as follows:


				Wtd. Avg.
	Shares			Fair Value
Outstanding at February 2, 2020		216,815		$	51.58
Granted		1,061,926			12.74
Change in performance units		4,352			59.67
Vested		(62,411	)		53.81
Forfeited		(48,409	)		28.14

Outstanding at August 2, 2020		1,172,273		$	17.27

Fair value of our time-based and performance-based RSU’s is based on our closing stock price on the date of grant. The unrecognized expense related to our time-based and performance-based RSU’s was $12,658 as of August 2, 2020 and will be expensed over a weighted average period of 2.3 years.

During the

twenty-six

weeks ended August 2, 2020 and August 4, 2019, excess tax expense (benefit) of $477 and ($884), respectively, were recognized as an expense (benefit) in the “Provision (benefit) for income taxes” in the Consolidated Statement of Comprehensive Income (Loss) and classified as a source in operating activities in the Consolidated Statement of Cash Flows.

Income Taxes	6 Months Ended
Income Taxes	Aug. 02, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Note 8: Income Taxes On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”). Intended to provide economic relief to those impacted by the COVID-19 pandemic, the CARES Act includes provisions, among others, addressing the carryback of net operating losses for specific periods, temporary modifications to the limitations placed on the tax deductibility of net interest expenses, and technical amendments for qualified improvement property. Additionally, the CARES Act, in efforts to enhance business’ liquidity, provides for the deferral of the employer-paid portion of social security taxes. As of August 2, 2020, we have elected to defer employer-paid portion of social security taxes of $1,448, which is included in “Other liabilities” in the Consolidated Balance Sheets. The Company has historically calculated the provision for income taxes during interim reporting periods by applying an estimate of the annualized effective tax rate for the full fiscal year to “ordinary” income or loss for the reporting period. Due to the uncertainty created by the events surrounding the COVID-19 pandemic, the actual effective tax rate for the year to date period was used to calculate the income tax benefit for the twenty-six weeks ended August 2, 2020. The effective tax rate for the twenty-six weeks ended August 2, 2020, was a benefit of 34.9%, compared to an effective tax rate of 21.5% for the twenty-six weeks ended August 4, 2019, primarily due to the impact of a decrease in operating earnings before income tax and the impact of the tax provisions within the CARES Act. As a result of the impact of the technical amendments for qualified improvement property within the CARES Act, the Company generated a taxable loss in 2019, which together with the taxable loss in 2020, can now be carried back to prior years when the statutory federal tax rate was at 35.0%.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Summary of Significant Accounting Policies (Policies)

6 Months Ended

Aug. 02, 2020

Accounting Policies [Abstract]

Description of the business

The Company operates on a 52 or

53-week

10-K

as filed with the SEC.

Going Concern

Going concern —

During

the period from March 14, 2020 to March 20, 2020, the Company

losed

100

% of its

137

operating stores in compliance with guidance and orders issued by federal, state and local governments to combat the spread of the

COVID-19

pandemic. The extent of impact of these conditions will be based in part on the duration of the store closures or

re-opening

of stores at full capacity and the timing and extent of customers

re-engaging

with the brand. During our first quarter, one store

re-opened

to the public with limited food and beverage offerings and two additional stores offered

off-premise

dining options. During our second quarter, we have progressively

re-opened

limited operations in an additional

stores in

states, Puerto Rico and Canada. Subsequent to the end of our second quarter, we

re-opened

COVID-19

pandemic will change, including when any restrictions or closure requirements will be lifted or potentially

re-imposed

in certain states or local jurisdictions, whether it will be able to successfully staff stores, and the degree to which it will be able to

re-engage

the outstanding letters of credit under the revolving credit facility. Additionally, the full amount due under the interest rate swap

The consolidated financial statements have been prepared assuming the Company will continue as a going concern.

twenty-six

weeks ended August 2, 2020 are not necessarily indicative of results that may be expected for any other interim period or for the fiscal year ending January 31, 2021.

Cash and cash equivalents

— We consider transaction settlements in process from credit card companies and all highly-liquid investments with

(used in)

operating activities” within the Consolidated Statements of Cash Flows.

Fair value of financial instruments

— Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an

Non-financial

assets and liabilities recognized or disclosed at fair value in the consolidated financial statements on a nonrecurring basis include such items as property and equipment,

right-of-use

(“ROU”) assets, goodwill, tradenames and other assets.

The disruption in operations and reduction in revenues have led the Company to consider the impact of the

COVID-19

pandemic on the recoverability of its property and equipment and ROU assets for operating leases.

During the first quarter

fiscal

COVID-19.

If the store’s assets

were

not

determined to be

recoverable

The Company recorded an impairment charge for its long-lived assets, including ROU assets, of $6,746 during the

first qu

ter of fis

2020, primarily driven by the expected impact of the

COVID-19

pandemic on future cash flows of specific stores.

dditional

impairment related to our operating stores was recognized

The Company has determined no events and circumstances existed during the

twenty-six

week

ended August 2, 2020 that would indicate it is more likely than not that its goodwill or tradename are impaired. The ultimate severity and longevity of the

COVID-19

pandemic is unknown, and therefore, it is possible that impairments could be identified in future periods, and such amounts could be material.

Additionally, the Company

is c

ontinu

ing

twenty-six

weeks ended August 2, 2020, we recorded an impairment loss and related contract termination costs of $2,178 and $6,981

related to these projects, which is included in “Other store operating expenses” in the Consolidated Statements of Comprehensive Income (Loss).

Interest rate swap

Interest rate swaps

— The Company entered into three interest rate swap agreements to manage our exposure to interest rate movements on our

variable rate credit facility. The agreements entitle the Company to receive at specified intervals, a variable rate of interest based on

one-month

1.00%. Accordingly, and as a result of the current forward interest rate curve, the Company discontinued the hedging relationship as of April 14, 2020

(de-designation

date). Given the continued existence of the hedged interest payments, the Company will reclassify its accumulated other comprehensive

loss

of $

17,609

as of the de-

gnation

date

into “Interest expense, net” using a straight-line approach over the remaining life of the originally designated hedging relationship.

The

amount of

pre-tax

losses in accumulated other comprehensive loss that was reclassified into interest expense subsequent to the

de-designation

date was $

1,887

and $

2,201

for the thirt

een and twenty

-six weeks ended August 2, 2020

, respectively, and the Company expects to reclassify $

7,547

within the next twelve months. Effective with the

de-designation,

any gain or loss on the derivatives are recognized in earnings in the period in which the change occurs. For the thirteen and

twenty-six

weeks ended August 2, 2020, a loss of $

976

and $

1,796

was recognized,

respectively,

which

are

included in “Other store operating expenses” in the Consolidated Statements of Comprehensive Income (Loss).

Prior to the

de-designation,

The following derivative instruments were outstanding as of the end of the periods indicated:


			Fair Value
	Balance Sheet Location		August 2, 2020			February 2, 2020
Interest rate swaps		Accrued liabilities	$	(8,215	)	$	(3,518	)
Interest rate swaps		Other liabilities		(8,724	)		(6,967	)

Total derivatives (1)			$	(16,939	)	$	(10,485	)

(1)	The balance at August 2, 2020 relates to our swap agreements after hedge accounting was discontinued, effective April 14, 2020.

The following table summarizes the activity in accumulated other comprehensive loss related to our derivative instruments:


	Thirteen Weeks Ended						Twenty-six Weeks Ended
	August 2, 2020			August 4, 2019			August 2, 2020			August 4, 2019
Amount of loss recorded in accumulated other comprehensive income	$	—			4,668		$	7,602			8,140
Amount of loss reclassified into income (1)	$	(1,887	)		(27	)	$	(2,680	)		(12	)
Income tax expense (benefit) in accumulated other comprehensive income	$	515			(1,268	)	$	(1,345	)		(2,221	)

(1)	Amounts reclassified into income are included in “Interest expense, net” in the Consolidated Statements of Comprehensive Income (Loss).

Revenue recognition

2,500 and $

12,100

, respectively, related to the amount in deferred amusement revenue as of the end of fiscal 2019.

twenty-six

weeks ended August 2, 2020, we recognized revenue of approximately $

140

and $1,440, respectively, related to the amount in deferred gift card revenue as of the end of fiscal 2019, of which approximately $

and $210 was breakage revenue.

Stockholders' equity

Stockholders’ equity

— Our Board

twenty-six

week

twenty-six

weeks ended August 2, 2020 and August 4, 2019, we withheld 43,788 and 11,336 shares of common stock to satisfy $687 and $586 of employees’ tax obligations, respectively. The share activity in the

twenty-six

weeks ended August 2, 2020 includes the settlements of $2,351 cash obligations through the issuance of 150,455 shares of common stock.

Effective March 18, 2020, the Board of Directors of the Company adopted a

364-day

one-ten

On June 23, 2020, shareholders approved a proposal to amend our 2014 Omnibus Incentive Plan (“Plan”) to increase the number of shares available for awards under the Plan by 3,000,000 shares.

Recently adopted accounting guidance

— In

June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU

2016-13

, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,

In January 2017, the FASB issued ASU

2017-04

, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment,

In August 2018, the FASB issued ASU

2018-13,

Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement

Recent accounting pronouncements

— In

December 2019, the FASB issued ASU

2019-12,

Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes

, which removes certain exceptions related to the approach for

intraperiod

In March 2020, the FASB issued ASU

2020-04,

Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Reform on Financial Reporting

de-designation

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Aug. 02, 2020

Accounting Policies [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The following derivative instruments were outstanding as of the end of the periods indicated:


			Fair Value
	Balance Sheet Location		August 2, 2020			February 2, 2020
Interest rate swaps		Accrued liabilities	$	(8,215	)	$	(3,518	)
Interest rate swaps		Other liabilities		(8,724	)		(6,967	)

Total derivatives (1)			$	(16,939	)	$	(10,485	)

(1)	The balance at August 2, 2020 relates to our swap agreements after hedge accounting was discontinued, effective April 14, 2020.

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]

The following table summarizes the activity in accumulated other comprehensive loss related to our derivative instruments:


	Thirteen Weeks Ended						Twenty-six Weeks Ended
	August 2, 2020			August 4, 2019			August 2, 2020			August 4, 2019
Amount of loss recorded in accumulated other comprehensive income	$	—			4,668		$	7,602			8,140
Amount of loss reclassified into income (1)	$	(1,887	)		(27	)	$	(2,680	)		(12	)
Income tax expense (benefit) in accumulated other comprehensive income	$	515			(1,268	)	$	(1,345	)		(2,221	)

(1)	Amounts reclassified into income are included in “Interest expense, net” in the Consolidated Statements of Comprehensive Income (Loss).

Accrued Liabilities (Tables)

6 Months Ended

Aug. 02, 2020

Text Block [Abstract]

Accrued Liabilities

Accrued liabilities consist of the following as of the end of each period:


	August 2, 2020		February 2, 2020
Deferred amusement revenue	$	78,159	$	75,113
Current portion of operating lease liabilities, net (1)		52,636		45,611
Rent payable (note 4)		31,589		—
Variable rent liabilities (note 4)		9,037		1,331
Deferred gift card revenue		10,832		11,253
Property taxes		9,936		7,226
Compensation and benefits		8,664		23,421
Current portion of derivatives		8,215		3,518
Current portion of long-term insurance		6,200		6,500
Utilities		4,219		4,442
Customer deposits		1,840		4,324
Inventory liabilities		1,737		2,179
Sales and use taxes		973		4,000
Dividend payable		—		4,891
Other		14,614		13,643

Total accrued liabilities	$	238,651	$	207,452

(1)	The balance of leasehold incentive receivables of $2,231 and $6,339 at August 2, 2020 and February 2, 2020, respectively, is reflected as a reduction of the current portion of operating lease liabilities.

Debt (Tables)

6 Months Ended

Aug. 02, 2020

Debt Disclosure [Abstract]

Long-Term Debt

Long-term debt consists of the following as of:


	August 2, 2020			February 2, 2020
Credit facility — term	$	258,750		$	266,250
Credit facility — revolver		489,000			382,000

Total debt outstanding		747,750			648,250
Current installments — term		(15,000	)		(15,000	)
Debt issuance costs — term		(1,104	)		(561	)

Long-term debt, net	$	731,646		$	632,689

Recorded Interest Expense, Net

Interest expense, net

— The following table sets forth our recorded interest expense, net for the periods indicated:


	Thirteen Weeks Ended					Twenty-six Weeks Ended
	August 2, 2020		August 4, 2019			August 2, 2020			August 4, 2019
Interest expense on credit facilities	$	5,865		4,708		$	11,163			8,903
Interest associated with swap agreements		1,887		27			2,680			12
Amortization of issuance cost		411		198			654			396
Interest income		—		(25	)		(22	)		(51	)
Capitalized interest		—		(303	)		(197	)		(599	)

Total interest expense, net	$	8,163	$	4,605		$	14,278		$	8,661

Leases (Tables)

6 Months Ended

Aug. 02, 2020

Lessee, Operating Lease, Disclosure

The components of lease expense, including variable lease costs primarily consisting of common area maintenance charges and property taxes, are as follows for the fiscal year ended:


	Thirteen Weeks Ended				Twenty-six Weeks Ended
	August 2, 2020		August 4, 2019		August 2, 2020		August 4, 2019
Operating lease cost	$	33,321		30,448	$	66,884		60,240
Variable lease cost		5,688		6,713		13,054		14,643
Short-term lease cost		140		116		227		217

Total	$	39,149	$	37,277	$	80,165	$	75,100

Earnings per share (Tables)

6 Months Ended

Aug. 02, 2020

Earnings Per Share [Abstract]

Summary of Calculation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of EPS, basic and diluted for the periods indicated:


	Thirteen Weeks			Thirteen Weeks
	Ended			Ended
	August 2, 2020			August 4, 2019
Numerator:
Net income (loss)	$	(58,602	)	$	32,356
Denominator:
Weighted average number of common shares outstanding (basic)		47,111,763			35,407,965
Weighted average dilutive impact of equity-based awards (1)		—			607,745
Weighted average number of common and common equivalent shares outstanding (diluted)		47,111,763			36,015,710
Net income (loss) per share:
Basic	$	(1.24	)	$	0.91
Diluted	$	(1.24	)	$	0.90


	Twenty-Six Weeks Ended August 2, 2020			Twenty-Six Weeks Ended August 4, 2019
Numerator:
Net income (loss)	$	(102,146	)	$	74,799
Denominator:
Weighted average number of common shares outstanding (basic)		39,470,874			36,117,815
Weighted average dilutive impact of equity-based awards (1)		—			685,186
Weighted average number of common and common equivalent shares outstanding (diluted)		39,470,874			36,803,001
Net income (loss) per share:
Basic	$	(2.59	)	$	2.07
Diluted	$	(2.59	)	$	2.03

Share-Based Compensation (Tables)

6 Months Ended

Aug. 02, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]

Compensation expense related to stock options, time-based and performance-based RSU’s is included in general and administrative expenses and is as follows:


	Thirteen Weeks Ended				Twenty-six Weeks Ended
	August 2, 2020		August 4, 2019		August 2, 2020		August 4, 2019
Stock options	$	290		804	$	830		1,563
RSU’s		2,444		1,103		1,515		2,169

Share-based compensation expense	$	2,734	$	1,907	$	2,345	$	3,732

Share-based Compensation, Stock Options, Activity [Table Text Block]

Transactions related to stock option awards during the

twenty-six

weeks ended August

2020

were as follows:


	2014 Stock Incentive Plan					2010 Stock Incentive Plan
	Number			Wtd. Avg.		Number			Wtd. Avg.
	of Options			Exercise Price		of Options			Exercise Price
Outstanding at February 2, 2020		1,323,495		$	36.97		266,900		$	6.72
Granted		—			—		—			—
Exercised		—			—		(79,142	)		4.54
Forfeited		(82,741	)		38.60		—			—

Outstanding at August 2, 2020		1,240,754		$	36.86		187,758		$	7.64

Exercisable at August 2, 2020		1,037,513		$	34.49		187,758		$	7.64

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]

Transactions related to time-based and performance-based RSU’s during the

twenty-six

weeks ended August

2020

, were as follows:


				Wtd. Avg.
	Shares			Fair Value
Outstanding at February 2, 2020		216,815		$	51.58
Granted		1,061,926			12.74
Change in performance units		4,352			59.67
Vested		(62,411	)		53.81
Forfeited		(48,409	)		28.14

Outstanding at August 2, 2020		1,172,273		$	17.27

Summary of Significant Accounting Policies - Additional Information (Detail) $ / shares in Units, $ in Thousands							3 Months Ended			6 Months Ended
	Jun. 23, 2020 shares	May 18, 2020 $ / shares shares	May 04, 2020 USD ($) $ / shares shares	Apr. 14, 2020 USD ($) $ / shares shares	Mar. 20, 2020	Mar. 18, 2020	Aug. 02, 2020 USD ($) Stores States Segment shares	May 03, 2020 USD ($)	Aug. 04, 2019 shares	Aug. 02, 2020 USD ($) Stores States Segment shares	Aug. 04, 2019 USD ($) shares	Mar. 30, 2020 Stores $ / shares	Feb. 02, 2020 USD ($)
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Number of stores \| Stores							137			137		137
Number of states store operates \| States							39			39
Number of operating segment \| Segment										1
Number of reportable segment \| Segment										1
Book overdrafts reclassified to accounts payable							$ 0			$ 0			$ 14,026
Share repurchase program authorized amount							800,000			800,000
Share repurchase program remaining authorized amount							172,820			172,820
Payments Related to Tax Withholding for Share-based Compensation										687	$ 586
National amount of the swap agreement							$ 350,000			$ 350,000
Derivative, Average Fixed Interest Rate							2.47%			2.47%
Percentage Of Stores					100.00%
Percentage Posting of cash collateral on letters of credit outstanding										103.00%
Required liquidity amount							$ 30,000			$ 30,000
Impairment of Long-Lived Assets										$ 13,727
Shares Paid for Tax Withholding for Share Based Compensation \| shares										43,788	11,336
Proceeds from Issuance										$ 182,207
2014 Stock Incentive Plan [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Share based payment award, number of additional shares authorized \| shares	3,000,000
Shareholder Rights Plan [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Dividends Payable, Date Declared						Mar. 18, 2020
Dividends Payable, Nature Description						one preferred share purchase right for each outstanding share of common stock
Preferred Stock, Par Value Per Share \| $ / shares												$ 0.01
Exercise price of rights \| $ / shares												$ 45.00
Dividends Payable, Date of Record						Mar. 30, 2020
Settlement Of Cash Obligation [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Stock issued during period, shares, issued for services \| shares											150,455
Cash obligation										2,351
Interest Rate Swap [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Interest payments reclassified to interest expense										17,609
Interest payments to be reclassified during next 12 months										7,547
Interest payments reclassified to interest expense during the period							1,887			2,201
Interest Rate Swap [Member] \| Other Store Operating Expenses [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Loss on Derivative							$ 976			$ 1,796
COVID19 [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Number of stores \| Stores							83			83
Number of states store operates \| States							27			27
Impairment of Long-Lived Assets							$ 0			$ 6,746
Impairment loss and contract termination costs of abandoned projects							$ 2,178			$ 6,981
COVID19 [Member] \| Off Premise Dining Option [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Number of stores \| Stores							2			2
Common Stock [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Stock Issued During Period \| shares			9,578,545	6,149,936			10,843,861		14,076	17,035,360	159,649
Sale of Stock, Price Per Share \| $ / shares			$ 10.44	$ 12.20
Proceeds from Issuance			$ 110,600	$ 75,000			$ 182,207	$ 182,207
Common Stock [Member] \| Over-Allotment Option [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Stock Issued During Period \| shares		1,014,871
Sale of Stock, Price Per Share \| $ / shares		$ 10.44
Dave And Busters Holdings Inc [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Percentage of outstanding common stock owned							100.00%			100.00%
Canada [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Number of Canadian province \| Segment							1			1
Amusement Revenue [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Deferred revenue recognized							$ 2,500			$ 12,100
Gift Card Revenue [Member]
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Deferred amusement revenue							140			1,440
Gift card breakage revenue							$ 40			$ 210

Summary of Significant Accounting Policies - Derivative Instruments Outstanding (Details) - USD ($)
$ in Thousands

Aug. 02, 2020

Feb. 02, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Current portion of derivatives

$ (8,215)

$ (3,518)

Non-current portion of derivatiives

(8,724)

(6,967)

Total derivatives

^[1]

$ (16,939)

$ (10,485)

[1]	The balance at August 2, 2020 relates to our swap agreements after hedge accounting was discontinued, effective April 14, 2020.

Summary of Significant Accounting Policies - Accumulated Other Comprehensive Loss (Details) - Interest Rate Swap [Member] - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Aug. 02, 2020

Aug. 04, 2019

Aug. 02, 2020

Aug. 04, 2019

Amount of loss recorded in accumulated other comprehensive income

$ 4,668

$ 7,602

$ 8,140

Income tax expense (benefit) in accumulated other comprehensive income

$ 515

(1,268)

(1,345)

(2,221)

Interest Expense [Member]

Amount of loss reclassified into income

^[1]

$ (1,887)

$ (27)

$ (2,680)

$ (12)

[1]	Amounts reclassified into income are included in “Interest expense, net” in the Consolidated Statements of Comprehensive Income (Loss).

Accrued Liabilities - Accrued Liabilities (Detail) - USD ($) $ in Thousands	Aug. 02, 2020	Feb. 02, 2020
Accrued Liabilities, Current [Abstract]
Deferred amusement revenue	$ 78,159	$ 75,113
Current portion of operating lease liabilities, net (1)	52,636	45,611
Rent payable (note 4)	31,589
Variable rent liabilities (note 4)	9,037	1,331
Deferred gift card revenue	10,832	11,253
Property taxes	9,936	7,226
Compensation and benefits	8,664	23,421
Current portion of derivatives	8,215	3,518
Current portion of long-term insurance	6,200	6,500
Utilities	4,219	4,442
Customer deposits	1,840	4,324
Inventory liabilities	1,737	2,179
Sales and use taxes	973	4,000
Dividend payable		4,891
Other	14,614	13,643
Total accrued liabilities	$ 238,651	$ 207,452

Accrued Liabilities - Accrued Liabilities (Parenthetical) (Detail) - USD ($) $ in Thousands	Aug. 02, 2020	Feb. 02, 2020
Accrued Liabilities, Current [Abstract]
Receivables for tenant improvement allowances	$ 2,231	$ 6,339

Debt - Additional Information (Detail) - USD ($)		6 Months Ended
Debt - Additional Information (Detail) - USD ($)	Aug. 17, 2017	Aug. 02, 2020	Apr. 14, 2020	Aug. 04, 2019
Debt Instrument [Line Items]
Required liquidity amount		$ 30,000,000
Minimum [Member]
Debt Instrument [Line Items]
Debt instrument interest rate		1.25%
Derivative, Variable Interest Rate		1.00%
Maximum [Member]
Debt Instrument [Line Items]
Debt instrument interest rate		2.00%
Credit Facility [Member]
Debt Instrument [Line Items]
Senior secured credit facility	$ 300,000,000
Revolving credit facility, maximum borrowing capacity	$ 500,000,000
Maturity date	Aug. 17, 2022
Revolving credit facility, letter of credit sub-facility maximum borrowing capacity	$ 35,000,000
Revolving credit facility, swing loan sub-facility maximum borrowing capacity	15,000,000
Term loan repayment of principal	$ 3,750,000
Frequency of periodic payment	quarter
Letter of credit facility outstanding		$ 9,686,000
Borrowing available		$ 1,314,000
Debt instrument interest rate		2.00%
Weighted average effective interest		3.98%		4.11%
Debt instrument, description of variable rate basis		The loans bear interest subject to a pricing grid based on a total leverage ratio, at one-month LIBOR plus a spread ranging from 1.25% to 2.00% for the term loans and the revolving loans.
Debt Instrument, covenant compliance		Our credit facility contains restrictive covenants that, among other things, place certain limitations on our ability to incur additional indebtedness, make loans or advances to subsidiaries and other entities, pay dividends, acquire other businesses or sell assets. In addition, our credit facility requires us to maintain certain financial ratio covenants.
Required liquidity amount		$ 30,000,000
Debt issuance costs			$ 2,000,000

Debt - Long-Term Debt (Detail) - USD ($) $ in Thousands	Aug. 02, 2020	Feb. 02, 2020
Debt Instrument [Line Items]
Total debt outstanding	$ 747,750	$ 648,250
Less current installments—term	(15,000)	(15,000)
Long-term debt, net	731,646	632,689
Credit Facility—term [Member]
Debt Instrument [Line Items]
Total debt outstanding	258,750	266,250
Less current installments—term	(15,000)	(15,000)
Less debt issuance costs—term	(1,104)	(561)
Credit Facility—revolver [Member]
Debt Instrument [Line Items]
Total debt outstanding	$ 489,000	$ 382,000

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Debt - Recorded Interest Expense, Net (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 02, 2020	Aug. 04, 2019	Aug. 02, 2020	Aug. 04, 2019
Debt Disclosure [Abstract]
Interest expense on credit facilities	$ 5,865	$ 4,708	$ 11,163	$ 8,903
Interest associated with swap agreements	1,887	27	2,680	12
Amortization of issuance cost and discount	411	198	654	396
Interest income	0	(25)	(22)	(51)
Capitalized interest	0	(303)	(197)	(599)
Total interest expense, net	$ 8,163	$ 4,605	$ 14,278	$ 8,661

Leases - Lease Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Leases - Lease Expense (Detail) - USD ($) $ in Thousands	Aug. 02, 2020	Aug. 04, 2019	Aug. 02, 2020	Aug. 04, 2019
Leases
Operating lease cost	$ 33,321	$ 30,448	$ 66,884	$ 60,240
Variable lease cost	5,688	6,713	13,054	14,643
Short-term lease cost	140	116	227	217
Total	$ 39,149	$ 37,277	$ 80,165	$ 75,100

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended	6 Months Ended
	Aug. 04, 2019	Aug. 04, 2019
Earnings Per Share [Abstract]
Weighted average anti-dilutive options excluded from calculation of common equivalent shares	160,967	97,502

Earnings Per Share - Summary of Calculation of Basic and Diluted Earnings Per Share (Detail) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

6 Months Ended

Aug. 02, 2020

Aug. 04, 2019

Aug. 02, 2020

Aug. 04, 2019

Numerator:

Net income (loss)

$ (58,602)

$ 32,356

$ (102,146)

$ 74,799

Denominator:

Weighted average number of common shares outstanding (basic)

47,111,763

35,407,965

39,470,874

36,117,815

Weighted average dilutive impact of equity-based awards

^[1]

607,745

685,186

Weighted average number of common and common equivalent shares outstanding (diluted)

47,111,763

36,015,710

39,470,874

36,803,001

Net income (loss) per share:

Basic

$ (1.24)

$ 0.91

$ (2.59)

$ 2.07

Diluted

$ (1.24)

$ 0.90

$ (2.59)

$ 2.03

[1]	Due to the net loss for the thirteen and twenty-six weeks ended August 2, 2020, zero incremental shares are included because the effect would be anti-dilutive.

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1448-109256

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1337-109256

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e4984-109258

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e3842-109258

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1252-109256

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121326447&loc=SL5780133-109256

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22644-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120380238&loc=d3e3842-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121326447&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1337-109256

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1448-109256

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1377-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121326447&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

+ Details

Earnings Per Share - Summary of Calculation of Basic and Diluted Earnings Per Share (Parenthetical) (Detail) - shares	3 Months Ended	6 Months Ended
	Aug. 02, 2020	Aug. 02, 2020
Earnings Per Share [Abstract]
Weighted average dilutive impact of equity-based awards	0	0

Share-Based Compensation - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Aug. 02, 2020	Aug. 04, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Excess income tax benefit related to stock-based compensation plans	$ 477	$ 884
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of stock options exercised	792
Unrecognized expense related to stock option plan	$ 1,157
Unrecognized compensation expense, weighted average years	1 year 6 months
Restricted Stock Units (RSU's) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense, weighted average years	2 years 3 months 18 days
Unrecognized expense related to unvested restricted stock and RSUs	$ 12,658

Share-Based Compensation - Summary of Compensation Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 02, 2020	Aug. 04, 2019	Aug. 02, 2020	Aug. 04, 2019
Share-based Payment Arrangement, Noncash Expense [Abstract]
Stock options	$ 290	$ 804	$ 830	$ 1,563
RSU's	2,444	1,103	1,515	2,169
Share-based compensation expense	$ 2,734	$ 1,907	$ 2,345	$ 3,732

Share-Based Compensation - Transactions Related to Stock Option Awards (Detail)	6 Months Ended
	Aug. 02, 2020 $ / shares shares
2014 Stock Incentive Plan [Member]
Number of Options
Options outstanding at February 2, 2020 \| shares	1,323,495
Forfeited \| shares	(82,741)
Options outstanding at , August 2, 2020 \| shares	1,240,754
Options exercisable at , August 2, 2020 \| shares	1,037,513
Weighted Average Exercise Price
Options outstanding at February 2, 2020 \| $ / shares	$ 36.97
Forfeited \| $ / shares	38.60
Options outstanding at , August 2, 2020 \| $ / shares	36.86
Options exercisable at , August 2, 2020 \| $ / shares	$ 34.49
2010 Stock Incentive Plan [Member]
Number of Options
Options outstanding at February 2, 2020 \| shares	266,900
Exercised \| shares	(79,142)
Options outstanding at , August 2, 2020 \| shares	187,758
Options exercisable at , August 2, 2020 \| shares	187,758
Weighted Average Exercise Price
Options outstanding at February 2, 2020 \| $ / shares	$ 6.72
Exercised \| $ / shares	4.54
Options outstanding at , August 2, 2020 \| $ / shares	7.64
Options exercisable at , August 2, 2020 \| $ / shares	$ 7.64

Share-Based Compensation - Transactions Related to Time-based and Performance-based RSU's and Restricted Stock (Detail) - Time-Based and Performance-Based RSU's [Member]	6 Months Ended
	Aug. 02, 2020 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Stock Awards, February 2, 2020 \| shares	216,815
Restricted Stock Awards, Granted \| shares	1,061,926
Restricted Stock Awards, Change in units based on performance \| shares	4,352
Restricted Stock Awards, Vested \| shares	(62,411)
Restricted Stock Awards, Forfeited \| shares	(48,409)
Restricted Stock Awards, August 2, 2020 \| shares	1,172,273
Weighted Average Grant Date Fair Value, February 2, 2020 \| $ / shares	$ 51.58
Weighted Average Grant Date Fair Value, Granted \| $ / shares	12.74
Weighted Average Fair Value Grant Date, Change in units based on performance \| $ / shares	59.67
Weighted Average Fair Value, Vested \| $ / shares	53.81
Weighted Average Fair Value, Forfeited \| $ / shares	28.14
Weighted Average Fair Value, August 2, 2020 \| $ / shares	$ 17.27

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Aug. 02, 2020	Aug. 04, 2019
Income Taxes [Line Items]
Corporate tax rate	34.90%	21.50%
Net operating loss carryback, Percentage	35.00%
CARES Act [Member]
Income Taxes [Line Items]
Deferred social security tax	$ 1,448