Related Party Transactions

6 Months Ended

Aug. 03, 2013

Related Party Transactions [Abstract]

Related Party Transactions

Note 6 — Related Party Transactions

In July 2009, the Company entered into an agreement with a related party vendor to purchase merchandise inventory. The vendor is considered a related party for financial reporting purposes because its principal is the spouse of the Company’s Vice President of Merchandising. During the 13-week periods ended August 3, 2013 and July 28, 2012, purchases from this vendor totaled approximately $7.0 million, or 14% of total merchandise purchases, and $5.6 million, or 11% of merchandise purchases, respectively. During the 26-week periods ended August 3, 2013 and July 28, 2012, purchases from this vendor totaled approximately $13.4 million, or 14% of total merchandise purchases, and $11.4 million, or 12% of merchandise purchases, respectively. Included in cost of sales for the 13-week periods ended August 3, 2013 and July 28, 2012 were $6.0 million and $5.8 million, respectively, related to this vendor. Included in cost of sales for the 26-week periods ended August 3, 2013 and July 28, 2012 were $12.2 million and $11.6 million, respectively, related to this vendor. Payable amounts outstanding to this vendor were approximately $2.4 million and $1.7 million as of August 3, 2013 and July 28, 2012, respectively. The Company’s payable terms with this vendor are consistent with the terms offered by other vendors in the ordinary course of business.