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Shareholders' Equity (Tables)
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12 Months Ended |
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Feb. 02, 2013
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| Outstanding Options [Abstract] |
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| Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] |
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Fiscal 2012 |
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Fiscal 2011 |
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Fiscal 2010 |
Expected volatility |
97% - 99% |
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88% - 96% |
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80% - 88% |
Expected term (in years) |
6 years |
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6 years |
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6 years |
Risk-free interest rate |
1.0% - 1.4% |
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1.3% - 2.7% |
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1.9% - 3.3% |
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| 2012 Market Grant [Table Text Block] |
Grant date fair values and derived service periods for each tranche were determined using a Monte Carlo valuation model based on assumptions, which included a weighted average risk-free interest rate of 0.38%, a weighted average expected life of 3.3 years and an implied volatility of 78% and were as follows for each tranche:
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Fair Value (Per Share) |
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Derived Service Period |
Tranche 1 ($6.00/share) |
$ |
0.93 |
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15 |
months |
Tranche 2 ($8.00/share) |
$ |
0.95 |
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20 |
months |
Tranche 3 ($10.00/share) |
$ |
0.95 |
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24 |
months |
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| Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] |
A summary of the status of the Company’s stock option activity as of February 2, 2013 and changes during the year then ended is as follows:
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2011
Incentive
Stock
Option
Plan |
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Weighted
Average
Exercise
Price |
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2004
Incentive
Stock
Option
Plan |
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Weighted
Average
Exercise
Price |
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2001
Incentive
Stock
Option
Plan |
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Weighted
Average
Exercise
Price |
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Other Non-
Qualified
Stock
Options |
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Weighted
Average
Exercise
Price |
Balance outstanding, January 28, 2012 |
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160,000 |
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$ |
2.25 |
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2,345,000 |
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$ |
6.03 |
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1,226,000 |
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$ |
6.15 |
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650,000 |
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$ |
4.30 |
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Granted |
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2,350,000 |
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$ |
3.82 |
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20,000 |
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$ |
1.70 |
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— |
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$ |
— |
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— |
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$ |
— |
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Exercised |
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— |
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$ |
— |
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(82,000 |
) |
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$ |
1.03 |
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— |
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$ |
— |
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— |
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$ |
— |
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Forfeited or canceled |
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(10,000 |
) |
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$ |
1.62 |
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(185,000 |
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$ |
5.45 |
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(57,000 |
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$ |
11.62 |
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(125,000 |
) |
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$ |
5.06 |
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Balance outstanding, February 2, 2013 |
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2,500,000 |
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$ |
3.73 |
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2,098,000 |
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$ |
6.23 |
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1,169,000 |
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$ |
5.88 |
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525,000 |
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$ |
4.12 |
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Options Exercisable at: |
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February 2, 2013 |
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50,000 |
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$ |
2.29 |
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1,965,000 |
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$ |
6.14 |
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1,151,000 |
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$ |
5.69 |
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363,000 |
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$ |
3.90 |
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January 28, 2012 |
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— |
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$ |
— |
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2,015,000 |
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$ |
6.18 |
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1,029,000 |
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$ |
6.35 |
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143,000 |
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$ |
3.60 |
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January 29, 2011 |
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— |
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$ |
— |
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1,735,000 |
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$ |
6.65 |
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1,192,000 |
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$ |
7.03 |
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— |
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$ |
— |
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| Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding [Table Text Block] |
The following table summarizes information regarding stock options outstanding at February 2, 2013:
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Options Outstanding |
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Options Vested or Expected to Vest |
Option Type |
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Number of Shares |
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Weighted
Average
Exercise
Price |
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Weighted
Average
Remaining
Contractual Life
(Years) |
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Aggregate
Intrinsic
Value |
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Number of Shares |
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Weighted
Average
Exercise
Price |
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Weighted
Average
Remaining
Contractual Life
(Years) |
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Aggregate
Intrinsic
Value |
2011 Incentive: |
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2,500,000 |
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$ |
3.73 |
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9.8 |
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$ |
213,000 |
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2,468,000 |
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$ |
3.75 |
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9.8 |
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$ |
194,000 |
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2004 Incentive: |
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2,098,000 |
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$ |
6.23 |
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5.8 |
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$ |
318,000 |
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2,085,000 |
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$ |
6.22 |
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5.8 |
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$ |
318,000 |
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2001 Incentive: |
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1,169,000 |
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$ |
5.88 |
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5.5 |
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$ |
207,000 |
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1,166,000 |
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$ |
5.90 |
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5.5 |
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$ |
206,000 |
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Non-Qualified: |
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525,000 |
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$ |
4.12 |
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7.4 |
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$ |
75,000 |
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509,000 |
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$ |
4.10 |
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7.4 |
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$ |
73,000 |
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| Schedule of Restricted Stock Fair Value [Table Text Block] |
Grant date fair values and derived service periods for each tranche were determined using a Monte Carlo valuation model based on assumptions, which included a weighted average risk-free interest rate of 0.32%, a weighted average expected life of 2.8 years and an implied volatility of 78% and were as follows for each tranche:
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Fair Value (Per Share) |
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Derived Service Period |
Tranche 1 ($6.00/share) |
$ |
1.48 |
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15 |
months |
Tranche 2 ($8.00/share) |
$ |
1.39 |
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20 |
months |
Tranche 3 ($10.00/share) |
$ |
1.31 |
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24 |
months |
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| Schedule of Non-vested Restricted Stock Activity [Table Text Block] |
A summary of the status of the Company’s non-vested restricted stock activity as of February 2, 2013 and changes during the twelve-month period then ended is as follows:
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Shares |
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Weighted
Average
Grant Date
Fair Value
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Non-vested outstanding, January 28, 2012 |
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982,000 |
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$ |
4.39 |
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Granted |
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383,000 |
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$ |
1.52 |
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Vested |
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(457,000 |
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$ |
4.87 |
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Forfeited |
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(136,000 |
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$ |
2.58 |
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Non-vested outstanding, February 2, 2013 |
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772,000 |
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$ |
3.00 |
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