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Quarterly Results of Operations and Seasonality (Unaudited)
 12 Months Ended
Feb. 03, 2018
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Results of Operations and Seasonality
(10) Quarterly Results of Operations and Seasonality (Unaudited)
Quarterly financial results for fiscal 2017 and fiscal 2016 were as follows: (in thousands except for per share data). 
 
Fiscal Year 2017 (1) (2)
 
Fiscal Year 2016 (1)
 
Fourth
Quarter
 
Third
Quarter
 
Second
Quarter
 
First
Quarter
 
Fourth
Quarter
 
Third
Quarter
 
Second
Quarter
 
First
Quarter
Net sales
$
504,832

 
$
257,175

 
$
283,320

 
$
232,881

 
$
388,090

 
$
199,475

 
$
220,130

 
$
192,715

Gross profit
$
207,490

 
$
83,631

 
$
98,506

 
$
73,786

 
$
159,417

 
$
64,003

 
$
73,350

 
$
60,267

Net income
$
67,377

 
$
9,879

 
$
16,804

 
$
8,391

 
$
49,788

 
$
5,447

 
$
9,847

 
$
6,758

Basic income per common share
$
1.22

 
$
0.18

 
$
0.30

 
$
0.15

 
$
0.91

 
$
0.10

 
$
0.18

 
$
0.12

Diluted income per common share
$
1.21

 
$
0.18

 
$
0.30

 
$
0.15

 
$
0.90

 
$
0.10

 
$
0.18

 
$
0.12


(1) The sum of the quarterly per share amounts may not equal per share amounts reported for the fiscal year due to rounding.
(2) The Company operates on a fiscal calendar widely used by the retail industry that results in a given fiscal year consisting of a 52- or 53-week period ending on the Saturday closest to January 31 of the following year. Fiscal 2017 consists of a 53-week fiscal year and the fourth quarter of fiscal 2017 included an extra week, representing the 53rd week.

The Company's business is seasonal in nature and demand is generally the highest in the fourth fiscal quarter due to the fourth quarter holiday season and, therefore, operating results for any fiscal quarter are not necessarily indicative of results for the full fiscal year. To prepare for the holiday season, the Company must order and keep in stock more merchandise than it carries during other parts of the year. The Company expects inventory levels, along with an increase in accounts payable and accrued expenses, generally to reach their highest levels in the third and fourth fiscal quarters in anticipation of the increased net sales during the year-end holiday season. As a result of this seasonality, and generally because of variation in consumer spending habits, the Company experiences fluctuations in net sales and working capital requirements during the fiscal year.