STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Jul. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of company's stock-based compensation

A summary of the Company’s stock-based compensation (a component of selling, general and administrative expenses) and related income tax benefit is as follows:

(in thousands):

	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	July 30, 2016		August 1, 2015		July 30, 2016			August 1, 2015
Stock option expense	$	304	$	175	$	(120	)	$	(194	)
Restricted stock expense		387		485		1,513			1,025
ESPP expense		51		49		103			97
Total stock-based compensation	$	742	$	709	$	1,496		$	928
Income tax benefit on stock-based compensation	$	170	$	181	$	379		$	202

Schedule of stock option granted using the Black-Scholes option-pricing model

The fair value of each option granted during the thirteen and twenty-six week periods ended July 30, 2016 and August 1, 2015 is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions:

	Thirteen Weeks Ended						Twenty-Six Weeks Ended
	July 30, 2016			August 1, 2015			July 30, 2016			August 1, 2015
Stock Options
Expected volatility		33.2	%		30.2	%		33.3	%		30.2	%
Risk-free interest rate		1.4	%		1.9	%		1.5	%		1.7	%
Expected option life (in years)		5.84			5.84			5.84			5.84
Expected dividend yield		1.80	%		1.72	%		1.79	%		1.59	%
Weighted average fair value at grant date	$	4.05		$	4.95		$	4.06		$	4.63
Employee Stock Purchase Plan
Expected volatility		60.3	%		30.9	%		59.8	%		31.8	%
Risk-free interest rate		0.9	%		0.3	%		0.9	%		0.3	%
Expected option life (in years)		0.50			0.50			0.38			0.38
Expected dividend yield		0.79	%		0.76	%		0.59	%		0.57	%
Weighted average fair value at grant date	$	3.78		$	3.92		$	3.60		$	3.74

Schedule of stock option activity

The following table summarizes stock option activity during the twenty-six weeks ended July 30, 2016:

	Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value (Thousands)
Outstanding at January 30, 2016		839,859		$	15.38		4.5	$	1,371
Granted		689,192		$	14.77
Forfeited / Cancelled		(294,975	)	$	14.45
Exercised		(1,300	)	$	13.06
Outstanding at July 30, 2016		1,232,776		$	15.26		6.1	$	1,350
Exercisable at July 30, 2016		123,659		$	15.43		4.0	$	132

Schedule of restricted stock activity

The following table summarizes restricted stock activity during the twenty-six weeks ended July 30, 2016:

	Number of Shares			Weighted Average Grant Date Fair Value
Non-vested Restricted Stock at January 30, 2016		517,143		$	15.61
Granted		56,813		$	15.23
Forfeited / Cancelled		(9,691	)	$	15.35
Vested		(28,893	)	$	15.45
Non-vested Restricted Stock at July 30, 2016		535,372		$	15.59