Unaudited Quarterly Financial Data

12 Months Ended

Feb. 02, 2013

Quarterly Financial Data [Abstract]

Unaudited Quarterly Financial Data

Unaudited Quarterly Financial Data

Summarized quarterly financial information for fiscal 2012 and 2011 is listed below (in thousands, except per-share data).

	Fiscal 2012 Quarter Ended
	April 28, 2012			July 28, 2012			October 27, 2012			February 2, 2013
Net sales	$	147,945		$	135,261		$	135,537		$	161,654
Gross margin	$	43,603		$	30,802		$	26,045		$	40,051
Net loss	$	(273	)	$	(12,369	)	$	(14,779	)	$	(85,810	)
Net loss per share
Basic	$	0.00		$	(0.14	)	$	(0.17	)	$	(0.97	)
Diluted	$	0.00		$	(0.14	)	$	(0.17	)	$	(0.97	)
Weighted-average number of shares of common stock outstanding
Basic	88,486,977			88,585,063			88,877,993			88,859,277
Diluted	88,486,977			88,585,063			88,877,993			88,859,277
Class A common stock market price data
High	$	3.69		$	3.37		$	3.29		$	3.01
Low	$	3.16		$	2.66		$	2.72		$	2.66

	Fiscal 2011 Quarter Ended
	April 30, 2011		July 30, 2011		October 29, 2011		January 28, 2012
Net sales	$	156,040	$	148,770	$	152,135	$	163,152
Gross margin	$	53,445	$	46,077	$	46,354	$	49,560
Net income	$	8,013	$	2,198	$	3,748	$	1,123
Net income per share
Basic	$	0.08	$	0.02	$	0.04	$	0.01
Diluted	$	0.08	$	0.02	$	0.04	$	0.01
Weighted-average number of shares of common stock outstanding
Basic	98,916,747		95,731,926		88,146,378		88,057,459
Diluted	98,975,965		95,835,044		88,244,855		88,061,398
Class A common stock market price data
High	$	4.55	$	5.10	$	5.04	$	4.32
Low	$	3.41	$	3.85	$	4.00	$	3.08

The fiscal quarters ended April 28, 2012, July 28, 2012, October 27, 2012 and February 2, 2013, include $3.6 million, $9.0 million, $6.4 million and $8.0 million in charges, respectively, to record the impairment of certain retail store equipment and leasehold improvement assets.

The fiscal quarters ended October 27, 2012 and February 2, 2013, include $0.5 million and $6.6 million, respectively, of loss contingency charges for several litigation matters.

The fiscal quarters ended July 28, 2012 and October 27, 2012 includes $1.9 million and $0.1 million, respectively, of severance costs, net of stock forfeiture credits, resulting from the departure of the Company's previous chief executive officer. The fiscal quarter ended February 2, 2013 included $1.0 million of severance costs, net of stock forfeiture credits, resulting from the departure of the Company's previous president and chief operating officer and $0.3 million of severance costs resulting from the workforce reduction on February 1, 2013. Additionally, the fiscal quarters ended October 27, 2012 and February 2, 2013 included $2.1 million and $0.3 million in professional fees to defend against a shareholder proxy solicitation to replace a majority of the Company's board members, which included the $0.5 million charge to terminate the two investment banker agreements in the fiscal quarter ended February 2, 2013, offset by a $0.2 million benefit to adjust the amount of professional fees incurred. The proxy solicitation ultimately led to an agreement to replace four of the Company's seven board members during October 2012.

The fiscal quarters ended April 30, 2011, July 30, 2011, October 29, 2011 and January 28, 2012, include $0.3 million, $1.1 million, $0.7 million and $2.4 million in charges, respectively, to record the impairment of certain retail store equipment and leasehold improvement assets.

The fiscal quarter ended February 2, 2013 included a $71.1 million increase to provision for income taxes in order to establish a valuation allowance against its deferred tax assets.