Retirement Benefit Plans

12 Months Ended

Feb. 01, 2020

Postemployment Benefits [Abstract]

Retirement Benefit Plans

Retirement Benefit Plans

401(k) savings plan — The Company maintains a defined contribution 401(k) employee benefit plan, which provides retirement benefits for eligible employees. The Company matches 100% of the employee’s elective contributions up to 4% of eligible compensation. Prior to January 1, 2018, the Company matched 50% of the employee’s elective contributions up to 6% of eligible compensation. The Company’s matching contributions were approximately $989,000, $904,000 and $585,000 in fiscal 2019, 2018 and 2017, respectively. The Company has the option to make additional contributions to the 401(k) employee benefit plan on behalf of covered employees; however, no such contributions were made in fiscal 2019, 2018 or 2017.

Deferred compensation plan — Deferred Compensation Plan assets and liabilities were $1.9 million at both February 1, 2020 and February 2, 2019, and were recorded in other assets and other liabilities in the consolidated balance sheets. The Company had no matching contributions to this Plan in fiscal 2019 or 2018. The Company’s matching contributions to this Plan were $41,000 in fiscal 2017. The Board of Directors approved the termination of the Deferred Compensation Plan effective September 6, 2019. Any remaining balances in the Deferred Compensation Plan will be paid out one year from the effective date.