Defined Benefit Plans

9 Months Ended

Oct. 29, 2016

Disclosure Text Block Supplement [Abstract]

Compensation and Employee Benefit Plans [Text Block]

Note 5. Defined Benefit Plans

The Company maintains a non-qualified Supplemental Executive Retirement Plan (“SERP”) for certain executive officers of the Company. The SERP provides eligible executives defined pension benefits that supplement benefits under other retirement arrangements. During the thirty-nine weeks ended October 29, 2016, the Company did not make any cash contributions to the SERP and presently expects to pay approximately $1.1 million in benefits relating to the SERP during fiscal 2016.

The measurement date for the SERP is the fiscal year end, using actuarial techniques which reflect estimates for mortality, turnover and expected retirement. In addition, management makes assumptions concerning future salary increases. Discount rates are generally established as of the measurement date using theoretical bond models that select high-grade corporate bonds with maturities or coupons that correlate to the expected payouts of the applicable liabilities.

The following represents the components of the net periodic pension cost related to the Company’s SERP for the respective periods:

	Thirteen Weeks Ended						Thirty-nine Weeks Ended
	October 29,			October 31,			October 29,			October 31,
	2016			2015			2016			2015
	(in thousands)						(in thousands)
Service cost	$	15		$	17		$	45		$	51
Interest cost		137			145			411			435
Amortization of pension costs		55			86			166			258
Amortization of net gain(1)		(4	)		(9	)		(12	)		(27	)
Net periodic pension cost	$	203		$	239		$	610		$	717

(1) The amortization of net gain is related to a director retirement plan previously provided by the Company.