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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Feb. 01, 2020	Apr. 09, 2020	Aug. 02, 2019
Document And Entity Information
Document Type	10-K
Document Period End Date	Feb. 01, 2020
Entity Registrant Name	SPORTSMAN'S WAREHOUSE HOLDINGS, INC.
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Interactive Data Current	Yes
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		43,298,934
Entity Public Float			$ 169,032,443
Current Fiscal Year End Date	--02-01
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Central Index Key	0001132105
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Feb. 01, 2020	Feb. 02, 2019
Current assets:
Cash	$ 1,685	$ 1,547
Accounts receivable, net	904	249
Merchandise inventories	275,505	276,600
Income tax receivable	812
Prepaid expenses and other	12,732	15,174
Total current assets	291,638	293,570
Operating lease right of use asset	224,520
Property and equipment, net	98,767	92,084
Deferred income taxes		2,997
Goodwill	1,496
Definite lived intangibles, net	220	246
Total assets	616,641	388,897
Current liabilities:
Accounts payable	38,157	24,953
Accrued expenses	70,118	56,384
Income taxes payable		1,838
Operating lease liability, current	34,487
Revolving line of credit	116,078	144,306
Current portion of long-term debt, net of discount and debt issuance costs	5,936	7,915
Current portion of deferred rent		5,270
Total current liabilities	264,776	240,666
Long-term liabilities:
Long-term debt, net of discount, debt issuance costs, and current portion	23,781	27,717
Deferred income taxes	562
Deferred rent, noncurrent		41,854
Operating lease liability, noncurrent	217,254
Total long-term liabilities	241,597	69,571
Total liabilities	506,373	310,237
Commitments and contingencies
Stockholders' equity:
Preferred stock, $.01 par value; 20,000 shares authorized; 0 shares issued and outstanding
Common stock, $.01 par value; 100,000 shares authorized; 43,296 and 42,978 shares issued and outstanding, respectively	433	430
Additional paid-in capital	86,806	84,671
Accumulated earnings (deficit)	23,029	(6,441)
Total stockholders' equity	110,268	78,660
Total liabilities and stockholders' equity	$ 616,641	$ 388,897

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Thousands	Feb. 01, 2020	Feb. 02, 2019
CONSOLIDATED BALANCE SHEETS
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	20,000	20,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000	100,000
Common stock, shares issued	43,296	42,978
Common stock, shares outstanding	43,296	42,978

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
CONSOLIDATED STATEMENTS OF INCOME
Net sales	$ 886,401	$ 849,129	$ 809,671
Cost of goods sold	589,768	564,199	535,811
Gross profit	296,633	284,930	273,860
Selling, general, and administrative expenses	263,169	240,911	227,292
Income from operations	33,464	44,019	46,568
Interest expense	7,995	13,206	13,738
Income before income taxes	25,469	30,813	32,830
Income tax expense	5,254	7,063	15,088
Net income	$ 20,215	$ 23,750	$ 17,742
Income per share:
Basic	$ 0.47	$ 0.55	$ 0.42
Diluted	$ 0.46	$ 0.55	$ 0.42
Weighted average shares outstanding:
Basic	43,166	42,878	42,496
Diluted	43,588	42,979	42,522

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) shares in Thousands, $ in Thousands	Common Stock	Additional Paid-in-capital	Accumulated (Deficit) Earnings	Total
Balance, shares at Jan. 28, 2017	42,269
Balance at Jan. 28, 2017	$ 422	$ 80,146	$ (50,567)	$ 30,001
Vesting of restricted stock units (in shares)	260
Vesting of restricted stock units	$ 3	(3)
Payment of withholdings on restricted stock units		(635)		(635)
Issuance of common stock for cash per employee stock purchase plan (in shares)	88
Issuance of common stock for cash per employee stock purchase plan	$ 1	395		396
Stock based compensation		2,294		2,294
Net income			17,742	17,742
Balance, shares at Feb. 03, 2018	42,617
Balance at Feb. 03, 2018	$ 426	82,197	(32,825)	49,798
Vesting of restricted stock units (in shares)	275
Vesting of restricted stock units	$ 3	(3)
Payment of withholdings on restricted stock units		(703)		(703)
Issuance of common stock for cash per employee stock purchase plan (in shares)	86
Issuance of common stock for cash per employee stock purchase plan	$ 1	351		352
Stock based compensation		2,829		2,829
Net income			23,750	$ 23,750
Balance, shares at Feb. 02, 2019	42,978			42,978
Balance at Feb. 02, 2019	$ 430	84,671	(6,441)	$ 78,660
Impact of change for ASC adoption \| ASC Topic 606			2,634	2,634
Vesting of restricted stock units (in shares)	198
Vesting of restricted stock units	$ 2	(2)
Payment of withholdings on restricted stock units		(369)		(369)
Issuance of common stock for cash per employee stock purchase plan (in shares)	120
Issuance of common stock for cash per employee stock purchase plan	$ 1	402		403
Stock based compensation		2,104		2,104
Net income			20,215	$ 20,215
Balance, shares at Feb. 01, 2020	43,296			43,296
Balance at Feb. 01, 2020	$ 433	$ 86,806	23,029	$ 110,268
Impact of change for ASC adoption \| ASU 2016-02			$ 9,255	$ 9,255

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
Cash flows from operating activities:
Net income	$ 20,215	$ 23,750	$ 17,742
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property and equipment	19,294	17,961	15,864
Amortization and write-off of discount on debt and deferred financing fees	339	2,043	708
Amortization of definite lived intangible	26	289	1,842
Change in deferred rent		568	8,098
(Gain) loss on asset dispositions	(311)	30	516
Noncash lease expense	27,009
Deferred income taxes	710	714	502
Stock-based compensation	2,104	2,829	2,294
Change in operating assets and liabilities, net of amounts acquired:
Accounts receivable, net	(655)	70	92
Operating lease liabilities	(28,374)
Merchandise inventories	20,247	(6,006)	(24,305)
Prepaid expenses and other	(1,571)	(5,339)	(681)
Accounts payable	12,709	(11,726)	7,536
Accrued expenses	8,774	7,739	(1,040)
Income taxes payable and receivable	(2,650)	(749)	1,607
Net cash provided by operating activities	77,866	32,173	30,775
Cash flows from investing activities:
Purchase of property and equipment, net of amounts acquired	(30,372)	(17,936)	(41,172)
Purchase of intangible asset		(259)
Acquisition of Field and Stream stores, net of cash acquired	(28,536)
Proceeds from deemed sale-leaseback transactions		1,717	9,022
Proceeds from sale-leaseback transactions	9,533
Proceeds from sale of property and equipment	311	226	14
Net cash used in investing activities	(49,064)	(16,252)	(32,136)
Cash flows from financing activities:
Net (payments) borrowings on line of credit	(28,228)	84,314	(980)
Increase in book overdraft	5,530	353	4,589
Proceeds from issuance of common stock per employee stock purchase plan	403	351	396
Payment of withholdings on restricted stock units	(369)	(703)	(635)
Borrowings on term loan		40,000
Payment of deferred financing costs		(1,331)	(551)
Principal payments on long-term debt	(6,000)	(139,127)	(1,600)
Net cash (used in) provided by financing activities	(28,664)	(16,143)	1,219
Net change in cash	138	(222)	(142)
Cash at beginning of period	1,547	1,769	1,911
Cash at end of period	1,685	1,547	1,769
Cash paid during the period for:
Interest, net of amounts capitalized	7,945	13,240	13,532
Income taxes, net of refunds	7,292	7,094	12,839
Supplemental schedule of noncash activities:
Noncash change in operating lease right of use asset and operating lease liabilities from remeasurement of existing leases and addition of new leases	66,095
Purchases of property and equipment included in accounts payable and accrued expenses	$ 1,112	$ 1,189	$ 1,142

Nature of Business	12 Months Ended
Nature of Business	Feb. 01, 2020
Nature of Business
Nature of Business	(1) Nature of Business Description of Business Sportsman’s Warehouse Holdings, Inc. (“Holdings”), a Delaware Corporation, and subsidiaries (collectively, the “Company”) operate retail sporting goods stores. As of February 1, 2020, the Company operated 103 stores in 27 states.

Summary of Significant Accounting Policies

12 Months Ended

Feb. 01, 2020

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

(2) Summary of Significant Accounting Policies

Principles of Consolidation

The consolidated financial statements of the Company have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and include the accounts of its four wholly owned subsidiaries, Sportsman’s Warehouse, Inc. (“Sportsman’s Warehouse”), Pacific Flyway Wholesale, LLC (“Pacific Flyway”), Sportsman’s Warehouse Southwest, Inc., and Minnesota Merchandising Corporation. All intercompany transactions and accounts have been eliminated in consolidation.

Fiscal Year

The Company operates using a 52/53 week fiscal year ending on the Saturday closest to January 31. Fiscal year 2019 ended February 1, 2020 and contained 52 weeks of operation. Fiscal year 2018 ended February 2, 2019 and contained 52 weeks of operations. Fiscal year 2017 ended February 3, 2018 and contained 53 weeks of operations.

Seasonality

The Company’s business is generally seasonal, with a significant portion of total sales occurring during the third and fourth quarters of the fiscal year.

Use of Estimates in the Preparation of Consolidated Financial Statements

The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Segment Reporting

The Company operates solely as a sporting goods retailer whose Chief Operating Decision Maker (“CODM”) is the Chief Executive Officer. The CODM reviews financial information presented on a consolidated and individual store and cost center basis, for purposes of allocating resources and evaluating financial performance. The Company’s stores typically have similar square footage and offer essentially the same general product mix. The Company’s core customer demographic remains similar chainwide, as does the Company’s process for the procurement and marketing of its product mix. Furthermore, the Company distributes its product mix chainwide from a single distribution center. Given that the stores have the same economic characteristics, the individual stores are aggregated into one single operating and reportable segment.

Cash

The Company considers cash on hand in stores and operating accounts as cash. Checks issued pending bank clearance that result in overdraft balances for accounting purposes are classified as accrued expenses in the accompanying consolidated balance sheets.

In accordance with the terms of a financing agreement (Note 8), the Company maintains depository accounts with two banks in a lock-box or similar arrangement. Deposits into these accounts are used to reduce the outstanding balance on the line of credit as soon as the respective bank allows the funds to be transferred to the financing company. At February 1, 2020 and February 2, 2019, the combined balance in these accounts was $7,400 and $7,035, respectively. Accordingly, these amounts have been classified as a reduction in the line of credit as if the transfers had occurred on February 1, 2020 and February 2, 2019, respectively.

Accounts Receivable

The Company offers credit terms on the sale of products to certain government and corporate retail customers and requires no collateral from these customers. The Company performs ongoing credit evaluations of its customers’ financial condition and maintains an allowance for doubtful accounts receivable based upon historical experience and a specific review of accounts receivable at the end of each period. Actual bad debts may differ from these estimates and the difference could be significant. At February 1, 2020 and February 2, 2019, the Company had no allowance for doubtful accounts receivable.

Merchandise Inventories

The Company measures its inventory at the lower of cost or net realizable value. Cost is determined using the weighted average cost method. The Company estimates a provision for inventory shrinkage based on its historical inventory accuracy rates as determined by periodic cycle counts. The Company also adjusts inventory for obsolete, slow moving, or damaged inventory based on inventory activity thresholds and by specific identification of slow moving or obsolete inventory. The inventory write downs for shrinkage, damage, or obsolescence totaled $5,761 and $7,012 at February 1, 2020 and February 2, 2019, respectively.

Property and Equipment

Property and equipment are recorded at cost. Leasehold improvements primarily include the cost of improvements funded by landlord incentives or allowances. Maintenance, repairs, minor renewals, and betterments are expensed as incurred. Major renewals and betterments are capitalized. Upon retirement or disposal of assets, the cost and accumulated depreciation and amortization are eliminated from the respective accounts and the related gains or losses are credited or charged to earnings.

Depreciation and amortization of property and equipment is computed using the straight-line method over the estimated useful lives of the related assets. Leasehold improvements are amortized over the shorter of the useful lives of the improvements or the term of the lease. Furniture, fixtures, and equipment, are depreciated over useful lives ranging from 3 to 10 years.

Impairment of Long-Lived Assets

The Company reviews its long-lived assets with definite lives for impairment whenever events or changes in circumstances may indicate that the carrying value of an asset may not be recoverable. The Company uses an estimate of the future undiscounted net cash flows of the related asset or group of assets over their remaining useful lives in measuring whether the assets are recoverable. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized for the amount by which the carrying amount exceeds the estimated fair value of the asset. Impairment of long-lived assets is assessed at the lowest levels for which there are identifiable cash flows that are independent of other groups of assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value, less the estimated costs to sell. No impairment charge to long-lived assets was recorded during the fiscal years ended February 1, 2020, February 2, 2019, and February 3, 2018.

Goodwill

At least annually, during the fourth quarter, or when events and circumstances warrant an evaluation, the Company performs its impairment assessment of goodwill. This assessment permits an entity to initially perform a qualitative assessment of whether it is more likely than not that a reporting unit’s fair value is less than its carrying amount before applying the quantitative goodwill impairment test. If an entity concludes that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, it would not need to perform the impairment test for the reporting unit.

If it is determined that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, the impairment analysis is performed, which incorporates a fair-value based approach. The Company determines the fair value of its reporting units based on discounted cash flows and market approach analyses as considered necessary. The Company considers factors such as the economy, reduced expectations for future cash flows coupled with a decline in the market price of its stock and market capitalization for a sustained period as indicators for potential goodwill impairment. If the reporting unit’s carrying amount exceeds its fair value, the Company will record an impairment charge based on that difference. The impairment charge will be limited to the amount of goodwill allocated to that reporting unit. No impairment charge to goodwill was recorded during the fiscal year ended February 1, 2020.

Prepaid Expenses and Other

Prepaid expenses and other primarily consists of prepaid expenses, vendor rebates receivable, vendor advertising receivables and miscellaneous deposits.

Leases

In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842), which requires lessees to recognize on the balance sheet assets and liabilities for leases with lease terms of more than 12 months. Consistent with prior GAAP, the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee will depend primarily on its classification as a finance or operating lease. However, unlike prior GAAP—which required only finance (formerly capital) leases to be recognized on the balance sheet—the new ASU requires both types of leases to be recognized on the balance sheet. The ASU took effect for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. This standard could be applied at the beginning of the earliest period presented using the modified retrospective approach, which includes certain practical expedients that an entity may elect to apply, including an election to use certain transition relief. In July 2018, the FASB issued ASU No. 2018-10, Codification Improvements to Topic 842, Leases and ASU No. 2018-11, Leases (Topic 842): Targeted Improvements, which made improvements to Accounting Standards Codification (“ASC”) 842 and allow entities to not restate comparative periods in transition to ASC 842 and instead report the comparative periods under ASC 840.

The Company adopted ASC 842 using the modified retrospective approach on February 3, 2019, coinciding with the standard’s effective date. In accordance with ASC 842, the Company did not restate prior comparative periods in transition to ASC 842 and instead reported prior comparative periods under ASC 840. Adoption of the standard resulted in the initial recognition of operating lease right-of-use (“ROU”) assets of $183,000 and operating lease liabilities of $214,000 as of February 3, 2019. These amounts were based on the present value of such commitments as of February 3, 2019 using the Company’s incremental borrowing rate (“IBR”), which was determined through use of the Company’s credit rating to develop a rate curve that approximates the Company’s market risk profile. The adoption of this standard had a material impact on the Company’s consolidated statement of income, balance sheet, stockholders’ equity and cash flows, with a $9,300 net adjustment recorded to beginning retained earnings on February 3, 2019 due to the acceleration of recognition of a deferred gain and derecognition of the related deferred tax asset the Company was amortizing relating to the historical sale and lease back of owned properties. In addition, the Company completed its evaluation of the practical expedients offered and enhanced disclosures required in ASC 842, as well as reviewed arrangements to identify embedded leases, among other activities, to account for the adoption of this standard.

The Company elected the following practical expedients:

A package of practical expedients allowing the Company to:

Carry forward its historical lease classification (i.e. it was not necessary to reclassify any existing leases at the adoption date of ASC 842),

Avoid reassessing whether any expired or existing contracts are or contain leases, and

Avoid reassessing initial indirect costs for any existing lease.

A practical expedient allowing the Company to not separate lease components (e.g. fixed payments including, rent, real estate taxes, and insurance costs) from nonlease components (e.g. common area maintenance costs), primarily impacting the Company’s real estate leases. The election of this practical expedient eliminates the burden of separately estimating the real estate lease and nonlease costs on a relative stand-alone basis.

A practical expedient related to land easements, allowing the Company to carry forward the accounting treatment for land easements on existing agreements and eliminated the need to reassess existing lease contracts to determine if land easements are separate leases under ASC 842.

The Company did not elect a practical expedient which would allow the Company to use hindsight in determining the lease term (that is, when considering lessee options to extend or terminate the lease and to purchase the underlying asset) and to assess impairment of the entity’s ROU assets, since election of this expedient could make adoption of ASC 842 more complex given that re-evaluation of the lease term and impairment consideration affect other aspects of lease accounting.

In accordance with ASC 842, the Company determines if an arrangement is a lease at inception. The Company has operating leases for the Company’s retail stores, distribution center, and corporate office. Operating leases are included in operating lease ROU assets and operating lease liabilities, current and noncurrent, on the consolidated balance sheet. Lease liabilities are initially recorded at the present value of the lease payments by discounting the lease payments by the IBR and then recording accretion over the lease term using the effective interest method. Operating lease classification results in a straight-line expense recognition pattern over the lease term and recognized lease expense as a single expense component, which results in amortization of the ROU asset that equals the difference between lease expense and interest expense. Operating lease expense is included in selling, general and administrative expense, based on the use of the leased asset, on the consolidated statement of income. Leases with an initial term of 12 months or less are not recorded on the balance sheet and are not material; the Company recognizes lease expense for these leases on a straight-line basis over the remaining lease term.

ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the reasonably certain lease term. As the Company’s leases generally do not provide an implicit rental rate, the Company uses an IBR to determine the present value of future rental payments. The IBR is determined by using the Company’s credit rating to develop a yield curve that approximates the Company’s market risk profile. The operating lease ROU asset also includes any prepaid lease payments made by the tenant and is reduced by lease incentives such as tenant improvement allowances. The operating lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense is recognized on a straight-line basis over the lease term.

For fiscal 2018, the Company evaluated and classified its leases as operating leases for financial reporting purposes, in accordance with ASC 840.

In accordance with ASC 840, deferred rent represents the difference between rent paid and amounts expensed for operating leases. Certain leases have scheduled rent increases, and certain leases include an initial period of free or reduced rent as an inducement to enter into the lease agreement (“rent holidays”). The Company recognized rent expense for rent increases and rent holidays on a straight-line basis over the term of the underlying leases, without regard to when rent payments are made. The calculation of straight-line rent begins on the possession date and extends through the “reasonably assured” lease term as defined in ASC 840.

Additionally, in accordance with ASC 840, landlord allowances for tenant improvements, or lease incentives, were recorded as deferred rent and amortized on a straight-line basis over the “reasonably assured” lease term as a component of rent expense.

See Note 6 for a further discussion on leases.

Revenue Recognition

Revenue recognition accounting policy

The Company operates solely as an outdoor retailer, which includes both retail stores and an e-commerce platform, that offers a broad range of products in the United States and online. Generally, all revenues are recognized when control of the promised goods is transferred to customers, in an amount that reflects the consideration in exchange for those goods. Accordingly, the Company implicitly enters into a contract with customers to deliver merchandise inventory at the point of sale. Collectability is reasonably assured since the Company only extends immaterial credit purchases to certain municipalities.

Substantially all of the Company’s revenue is for single performance obligations for the following distinct items:

Retail store sales

E-commerce sales

Gift cards and loyalty rewards program

For performance obligations related to retail store and e-commerce sales contracts, the Company typically transfers control, for retail stores, upon consummation of the sale when the product is paid for and taken by the customer and, for e-commerce sales, when the products are tendered for delivery to the common carrier.

The transaction price for each contract is the stated price on the product, reduced by any stated discounts at that point in time. The Company does not engage in sales of products that attach a future material right which could result in a separate performance obligation for the purchase of goods in the future at a material discount. The implicit point-of-sale contract with the customer, as reflected in the transaction receipt, states the final terms of the sale, including the description, quantity, and price of each product purchased. Payment for the Company’s contracts is due in full upon delivery. The customer agrees to a stated price implicit in the contract that does not vary over the contract.

The transaction price relative to sales subject to a right of return reflects the amount of estimated consideration to which the Company expects to be entitled. This amount of variable consideration included in the transaction price, and measurement of net sales, is included in net sales only to the extent that it is probable that there will be no significant reversal in a future period. Actual amounts of consideration ultimately received may differ from the Company’s estimates. The allowance for sales returns is estimated based upon historical experience and a provision for estimated returns is recorded as a reduction in sales in the relevant period. The estimated merchandise inventory cost related to the sales returns is recorded in prepaid expenses and other. The estimated refund liabilities are recorded in accrued expenses. If actual results in the future vary from the Company’s estimates, the Company adjusts these estimates, which would affect net sales and earnings in the period such variances become known.

Contract liabilities are recognized primarily for gift card sales and our loyalty reward program. Cash received from the sale of gift cards is recorded as a contract liability in accrued expenses, and the Company recognizes revenue upon the customer’s redemption of the gift card. Gift card breakage is recognized as revenue in proportion to the pattern of customer redemptions by applying a historical breakage rate of 3.5% when no escheat liability to relevant jurisdictions exists. Based upon historical experience, gift cards are predominantly redeemed in the first two years following their issuance date. The Company does not sell or provide gift cards that carry expiration dates. ASC 606 requires the Company to allocate the transaction price between the goods and the loyalty reward points based on the relative stand alone selling price. The Company recognized revenue for the breakage of loyalty reward points as revenue in proportion to the pattern of customer redemption of the points by applying a historical breakage rate of 50% when no escheat liability to relevant jurisdictions exists.

Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue.

Sales returns

The Company allows customers to return items purchased within 30 days provided the merchandise is in resaleable condition with original packaging and the original sales/gift receipt is presented. We estimate a reserve for sales returns and record the respective reserve amounts, including a right to return asset when a product is expected to be returned and resold. Historical experience of actual returns and customer return rights are the key factors used in determining the estimated sales returns.

Contract Balances

The following table provides information about right of return assets, contract liabilities, and sales return liabilities with customers as of fiscal year ended February 1, 2020 and Februrary 2, 2019:


	February 1, 2020		February 2, 2019
Right of return assets, which are included in prepaid expenses and other	$	1,683	$	1,496
Estimated gift card contract liability, net of breakage		(13,575)		(11,569)
Estimated loyalty contract liability, net of breakage		(9,621)		(8,729)
Sales return liabilities, which are included in accrued expenses		(2,512)		(2,233)

For the fiscal years ended February 1, 2020, February 2, 2019, and February 3, 2018, the Company recognized $1,430, $1,007, and $1,337 in gift card breakage, respectively. For the fiscal years ended February 1, 2020, February 2, 2019, and February 3, 2018, the Company recognized $2,480, $1,439, and $1,022, in loyalty reward breakage, respectively. The impact of these adjustments on the statement of cash flow for the year ended February 1, 2020 were recorded in cash provided by operating activities. For the fiscal years ended February 1, 2020 and February 2, 2019 the Company recognized $8,219 and $8,802 of revenue related to the beginning gift card liability from the previous year.

The current balance of the right of return assets is the expected amount of inventory to be returned that is expected to be resold. The current balance of the contract liabilities primarily relates to the gift card and loyalty reward program liabilities. The Company expects the revenue associated with these liabilities to be recognized in proportion to the pattern of customer redemptions over the next two years. The current balance of sales return liabilities is the expected amount of sales returns from sales that have occurred.

Practical expedients and policy elections

The Company applied the following practical expedients in its application for Topic 606:

The Company elected to apply the practical expedient, relative to e-commerce sales, which allows an entity to account for shipping and handling as fulfillment activities, and not a separate performance obligation. Accordingly, the Company recognizes revenue for only one performance obligation, the sale of the product, at the shipping point (when the customer gains control). Revenue associated with shipping and handling is not material. The costs associated with fulfillment are recorded in costs of goods sold.

The Company elected to apply the practical expedient, relative to sales tax collected, which allows an entity to exclude from its transaction price any amounts collected from customers for all sales (and other similar) taxes.

Disaggregation of revenue from contracts with customers

In the following table, revenue from contracts with customers is disaggregated by department. The percentage of net sales related to our departments for the fiscal years ended February 1, 2020, February 2, 2019, and February 3, 2018, were as follows:


		Fiscal Year Ended
		February 1,	February 2,	February 3,
Department	Product Offerings	2020	2019	2018
Camping	Backpacks, camp essentials, canoes and kayaks, coolers, outdoor cooking equipment, sleeping bags, tents and tools	14.4%	14.2%	15.1%
Clothing	Camouflage, jackets, hats, outerwear, sportswear, technical gear and work wear	9.3%	8.9%	9.3%
Fishing	Bait, electronics, fishing rods, flotation items, fly fishing, lines, lures, reels, tackle and small boats	11.1%	10.6%	10.7%
Footwear	Hiking boots, socks, sport sandals, technical footwear, trail shoes, casual shoes, waders and work boots	7.5%	7.3%	7.4%
Hunting and Shooting	Ammunition, archery items, ATV accessories, blinds and tree stands, decoys, firearms, reloading equipment and shooting gear	49.1%	48.3%	48.7%
Optics, Electronics, Accessories, and Other	Gift items, GPS devices, knives, lighting, optics (e.g. binoculars), two-way radios, and other license revenue, net of revenue discounts	8.6%	10.7%	8.8%
Total		100.0%	100.0%	100.0%

The Company adopted Accounting Standard Codification (“ASC”) Topic 606 on February 4, 2018, using the modified retrospective approach to all open contracts, with the cumulative effect of adopting the new standard being recognized in retained earnings at February 4, 2018. Therefore, the prior periods comparative information has not been adjusted and continues to be reported under Topic 605. The adoption of Topic 606 resulted in an increase in prepaid expenses and other assets of $1,054 for the recognition of the right of return assets; an increase in accrued expenses relating to the sales return liability of $1,054 for the recognition of the sales return liability on a gross basis; a decrease in accrued expenses of $3,521 relating to the breakage of loyalty rewards and gift cards in order to adjust the breakage pattern of the loyalty program and gift cards to match the usage; a decrease of $884 in deferred tax assets relating to the tax impact of the entries recorded for the gift card and loyalty program liabilities; and a decrease in accumulated deficit of $2,634 as a cumulative effect of the adoption.

The largest driver of changes for the adoption of Topic 606 was the change in the method of estimating breakage for the Company’s outstanding gift cards and loyalty reward liabilities. Under Topic 605, this breakage was historically recorded when it was determined that the gift cards or loyalty reward points were not probable to be redeemed, which was after two years for gift cards and 18 months for loyalty reward points. Topic 606, the breakage recognized for the loyalty reward program and gift cards is now estimated based off of historical breakage percentages, and is recognized in-line with the expected usage of the loyalty points and gift cards.

Cost of Goods Sold

Cost of goods sold primarily consists of merchandise acquisition costs, including freight-in costs, shipping costs, terms discounts received from the vendor and vendor allowances and rebates associated directly with merchandise. Vendor allowances include allowances and rebates received from vendors. The Company records an estimate of earned allowances based on purchase volumes. These funds are determined for each fiscal year, and the majority is based on various quantitative contract terms. Amounts expected to be received from vendors relating to purchase of merchandise inventories are recognized as a reduction of cost of goods sold as the merchandise is sold. Historical program results and current purchase volumes are reviewed when establishing the estimate for earned allowances.

Shipping and Handling Fees and Costs

All shipping and handling fees billed to customers are recorded as a component of net sales. All costs incurred related to the shipping and handling of products are recorded in cost of sales.

Vendor Allowances

Vendor allowances include price allowances, volume rebates, store opening costs reimbursements, marketing participation and advertising reimbursements received from vendors under the terms of specific arrangements with certain vendors. Vendor allowances related to merchandise are recognized as a reduction of the costs of merchandise as sold. Vendor reimbursements of costs are recorded as a reduction to expense in the period the related cost is incurred based on actual costs incurred. Any cost reimbursements exceeding expenses incurred are recognized as a reduction of the cost of merchandise sold. Volume allowances may be estimated based on historical purchases and estimates of projected purchases.

Health Insurance

The Company maintains for its employees a partially self-funded health insurance plan. The Company maintains stop-loss insurance through an insurance company with a $100 per person deductible and aggregate claims limit above a predetermined threshold. The Company intends to maintain this plan indefinitely. However, the plan may be terminated, modified, suspended, or discontinued at any time for any reason specified by the Company.

The Company has established reserve amounts based upon claims history and estimates of claims that have been incurred but not reported (“IBNR”) for this plan. As of February 1, 2020, and February 2, 2019, the Company estimated the IBNR for this plan to be $945 and $900, respectively. Actual claims may differ from the estimate and such difference could be significant. These reserves are included in accrued expenses in the accompanying consolidated balance sheets.

Workers Compensation Insurance

The Company maintains for its employees a high-deductible workers compensation plan. The Company maintains stop-loss insurance through an insurance company with a $150 per claim deductible and aggregate claims limit above a predetermined threshold. The Company intends to maintain this plan indefinitely. However, the plan may be terminated, modified, suspended, or discontinued at any time for any reason specified by the Company.

The Company has established reserve amounts based upon claims history and estimates of IBNR for this plan. As of February 1, 2020, and February 2, 2019, the Company estimated the IBNR for this plan to be $902 and $1,045, respectively, related to the workers compensation plan. Actual claims may differ from the estimate and such difference could be significant. These reserves are included in accrued expenses in the accompanying consolidated balance sheets.

Advertising

Costs for newspaper, television, radio, and other advertising are expensed in the period in which the advertising occurs. The Company participates in various advertising and marketing cooperative programs with its vendors, who, under these programs, reimburse the Company for certain costs incurred. Payments received under these cooperative programs are recorded as a decrease to expense in the period that the advertising occurred. For the fiscal years ended February 1, 2020, February 2, 2019, and February 3, 2018, net advertising expenses totaled $11,493, $8,437, and $7,760, respectively. These amounts are included in selling, general and administrative expenses in the accompanying consolidated statements of income.

Stock-Based Compensation

Compensation expense is estimated based on grant date fair value on a straight-line basis over the requisite service or offering period. Costs associated with awards are included in compensation expense as a component of selling, general, and administrative expenses.

Income Taxes

The Company recognizes a deferred income tax liability or deferred income tax asset for the future tax consequences attributable to differences between the financial statement basis of existing assets and liabilities and their respective tax basis. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided against deferred income tax assets when it is more likely than not that all or some portion of the deferred income tax assets will not be realized.

The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the relevant tax authorities, based on the technical merits of the position. Interest and potential penalties are accrued related to unrecognized tax benefits in the provision for income taxes.

Fair Value of Financial Instruments

As of February 1, 2020, and February 2, 2019 the carrying amounts of financial instruments except for long-term debt approximate fair value because of the general short-term nature of these instruments. The carrying amounts of long-term variable rate debt approximate fair value as the terms are consistent with market terms for similar debt instruments.

Earnings Per Share

Basic earnings per share is calculated by dividing net income by the weighted-average shares of common stock outstanding, reduced by shares repurchased and held in treasury, during the period. Diluted earnings per share represents basic earnings per share adjusted to include the potentially dilutive effect of outstanding share option awards, nonvested share awards and nonvested share unit awards.

Comprehensive Income

The Company has no components of income that would require classification as other comprehensive income for the fiscal years ended February 1, 2020, February 2, 2019, and February 3, 2018.

Recent Accounting Pronouncements

In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. This standard aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The Company’s accounting for the service element of a hosting arrangement that is a service contract is not affected by the proposed amendments and will continue to be expensed as incurred in accordance with existing guidance. This standard does not expand on existing disclosure requirements except to require a description of the nature of hosting arrangements that are service contracts. This standard is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted, including adoption in any interim period for which financial statements have not been issued. Entities can choose to adopt the new guidance prospectively or retrospectively. The

Company plans to adopt the updated disclosure requirements of ASU No. 2018-15 prospectively in the first quarter of fiscal 2020, coinciding with the standard’s effective date, and expects the impact from this standard to be immaterial.

Acquisition of Field and Stream Stores

12 Months Ended

Feb. 01, 2020

Acquisition of Field and Stream Stores

Acquisition of Field and Stream Stores

(3) Acquisition of Field & Stream Stores

On September 28, 2019, Sportsman’s Warehouse, a wholly owned subsidiary of the Company, entered into an Asset Purchase Agreement (the “Purchase Agreement”) with DICK’S Sporting Goods, Inc. (“DICK’S”). Pursuant to the Purchase Agreement, Sportsman’s Warehouse agreed, subject to certain conditions, to acquire from DICK’S all cash, inventory, furniture, fixtures, and equipment, and certain other assets related to up to eight Field & Stream stores operated by DICK’S (the “Acquired Stores”). The Acquired Stores are located in New York (2), Pennsylvania (3), North Carolina (2) and Michigan (1). The acquisition of the eight Acquired Stores closed on October 11, 2019 (the “Closing Date”). On or prior to the Closing Date, Sportsman’s Warehouse entered into a sublease with DICK’s with respect to each Acquired Store location. Pursuant to the Purchase Agreement and in connection with closing of the acquisition, the parties also entered into a transition services agreement related to the Acquired Stores by which DICK’S provided transition services to the Company for a period of up to 120 days of the Closing Date.

The aggregate consideration paid to DICK’S under the Purchase Agreement was $28.7 million (the “Purchase Price”). On the Closing Date, Sportsman’s Warehouse drew $19.8 million under the Revolving Line of Credit (as defined below) to fund a portion of the Purchase Price. The remaining approximately $9 million of consideration owed to DICK’S was paid in January 2020.

As part of the acquisition, the Company incurred legal, accounting, and other due diligence fees that were expensed as incurred. Total fees incurred for the year ended February 1, 2020 were $662 which were included as a component of Selling, general, and administrative expenses.

The following table summarizes the Purchase Price consideration and related cash outflow at the Closing Date:


		October 11, 2019
Cash paid to seller	$	19,241
Payable to seller		9,462
Total purchase price	$	28,703

The Purchase Price of $28,703 has been allocated to the identifiable assets acquired based on their respective estimated fair values. No liabilities were assumed as part of the acquisition of the Acquired Stores other than the lease obligation. The excess of the Purchase Price over the fair value of the tangible and intangible assets acquired is recorded as goodwill. The following table summarizes the estimated fair value of the identifiable assets acquired and assumed liabilities as of the Closing Date:


		October 11, 2019
Cash	$	167
Inventory		19,152
Property, plant, and equipment		5,250
Operating lease right of use asset		33,436
Operating lease right of use liability		(31,051)
Deferred tax asset		253
Goodwill		1,496
Total	$	28,703

As of February 1, 2020, the Company has finalized its allocation of the purchase price to the identifiable assets and does not expect any further adjustments to the allocation in future periods.

Right of Use Asset and Liability

The right of use asset and liability were determined by taking the present value of the future minimum lease payments associated with the Acquired stores. The Company utilized discount rates for the leases similar to the rates used to present value its other leases. The difference between the asset and the liability noted above is attributable to net favorable lease rates in the acquired store leases.

Goodwill

Goodwill represents the excess of the Purchase price over the fair value of the assets acquired. The Company believes that the primary factors supporting the amount of goodwill is the workforce acquired in the store locations. The amount of goodwill that is amortizable for tax purposes is $4,134.

Results of Operations

The results of operations of the Acquired Stores were included in the Company’s results of operations beginning on October 11, 2019. From October 11, 2019 through February 1, 2020 the Acquired stores generated net sales of $24,345 and net income of approximately $2,246.

Pro Forma Results (unaudited)

The following pro forma results are based on the individual historical results of the acquired stores with adjustments to give effect to the combined operations as if the acquisition had been consummated at the beginning of fiscal year 2018. The pro forma results are intended for informational purposes only and do not purport to represent what the combined results of operations would actually have been had the acquisition in fact occurred at the beginning of the earliest period presented. The pro forma information includes the following adjustments (i) depreciation based on the fair value of acquired property, plant, and equipment; (ii) cost of goods sold based on the step-up in fair value of the acquired inventory; (iii) interest expense incurred in connection with the borrowings on the Revolving Line of Credit used to finance the acquisition; and (iv) elimination of acquisition expenses.


		Fiscal Year Ended
		February 1,	February 2,
		2020	2019
Net sales	$	931,703	923,678
Net income	$	20,369	26,624

Earnings per share:
Basic	$	0.47	0.62
Diluted	$	0.47	0.62

In addition, in March 2020 the Company acquired one additional Field & Stream stores from DICK’S and entered into an asset purchase agreement for a second additional Field & Stream store. See Note 19, Subsequent Event for additional information.

Property and Equipment

12 Months Ended

Feb. 01, 2020

Property and Equipment.

Property and Equipment

(4) Property and Equipment

Property and equipment as of February 1, 2020 and February 2, 2019 was as follows:


	February 1,		February 2,
	2020		2019
Furniture, fixtures, and equipment	$	84,059	$	71,820
Leasehold improvements		103,791		94,573
Construction in progress		1,571		1,743
Total property and equipment, gross		189,421		168,136
Less accumulated depreciation and amortization		(90,654)		(76,052)
Total property and equipment, net	$	98,767	$	92,084

Depreciation expense was $19,294, $17,961, and $15,864, for the fiscal years ended February 1, 2020, February 2, 2019, and February 3, 2018, respectively.

Definite Lived Intangible Assets

12 Months Ended

Feb. 01, 2020

Definite Lived Intangible Asset

Definite Lived Intangible Assets

(5) Definite Lived Intangible Assets

The following table summarizes the definite lived intangible assets:


	February 1, 2020
	Amortization period	Gross carrying amount		Accumulated amortization	Net carrying amount
Amortizing intangible assets:
Domain Name	10 years		257	(37)	220
Total		$	257	(37)	220

	February 2, 2019
	Amortization period	Gross carrying amount		Accumulated amortization	Net carrying amount
Amortizing intangible assets:
Non-compete agreement	5 years	$	9,063	(9,063)	-
Domain Name	10 years		257	(11)	246
Total		$	9,320	(9,074)	246

Amortization expense for definite lived intangible asset was $26, $289, and $1,842, for the fiscal years ended February 1, 2020, February 2, 2019, and February 3, 2018, respectively.

Leases

12 Months Ended

Feb. 01, 2020

Leases

Leases

(6) Leases

At the inception of the lease, the Company’s operating leases have remaining certain lease terms of up to 10 years, which typically includes multiple options for the Company to extend the lease which are not reasonably certain.

The adoption of ASC 842 resulted in recording a non-cash transitional adjustment to ROU assets and operating lease liabilities of $183,000 and $214,000, respectively, as of February 3, 2019. The difference between the ROU assets and operating lease liabilities at transition primarily represented existing deferred rent, tenant improvement allowances and prepaid rent of $14,200, $20,600 and $3,800, respectively, which were recorded as a component of the ROU asset in connection with the non-cash transitional adjustment. As a result of the adoption of ASC 842, the Company also recorded an increase to retained earnings of $9,300, net of tax, as of February 3, 2019, in relation to the accelerated recognition of a deferred lease gain, and derecognition of the related deferred tax asset, which the Company was amortizing relating to the historical sales of owned properties it currently leases.

In the fiscal year ended February 1, 2020, the Company recorded a non-cash increase of $66,095, to ROU assets and operating lease liabilities resulting from lease remeasurements from the exercise of lease extension options, acquired leases, and new leases added.

The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

In accordance with ASC 842, total lease expense, including common area maintenance (CAM), recorded during the fiscal year ended February 1, 2020 was $59,846.

In accordance with ASC 842, other information related to leases was as follows:


	Fiscal Year Ended
	February 1,
	2020
Operating cash flows from operating leases	$	(49,713)
Cash paid for amounts included in the measurement of lease liabilities - operating leases		(49,713)

	As of February 1,
	2020

Right-of-use assets obtained in exchange for new or remeasured operating lease liabilities	$	66,095
Weighted-average remaining lease term - operating leases		6.26
Weighted-average discount rate - operating leases		8.00%

In accordance with ASC 842, maturities of operating lease liabilities as of February 1, 2020 were as follows:


	Operating
Year Endings:	Leases
2020	$	54,380
2021		51,524
2022		47,363
2023		42,700
2024		34,859
Thereafter		130,263
Undiscounted cash flows	$	361,089
Reconciliation of lease liabilities:
Present values	$	251,741
Lease liabilities - current		34,487
Lease liabilities - noncurrent		217,254
Lease liabilities - total	$	251,741
Difference between undiscounted and discounted cash flows	$	109,348

The Company has excluded in the table above approximately $11.6 million of leases (undiscounted basis) that have not yet commenced. These leases will commence in 2020 with lease terms of five to ten years.

In accordance with ASC 840, rent expense for operating leases consisted of the following:


	Fiscal Year Ended
	February 2,
	2019
Operating lease expense	$	54,027
Total lease expense		54,027

In accordance with ASC 840, future minimum lease payments under non-cancelable leases as of February 2, 2019 were as follows:


	Operating
Year Endings:	Leases
2019	$	47,551
2020		46,824
2021		43,070
2022		38,160
2023		33,246
Thereafter		74,821
Total minimum lease payments	$	283,672

Accrued Expenses and Other Liabilities

12 Months Ended

Feb. 01, 2020

Accrued Expenses and Other Liabilities

Accrued Expenses and Other Liabilities

(7) Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consist of the following at February 1, 2020 and February 2, 2019:


	February 1,		February 2,
	2020		2019
Book overdraft	$	15,827	$	10,297
Unearned revenue		25,705		21,836
Accrued payroll and related expenses		11,436		11,590
Sales and use tax payable		5,169		4,250
Accrued construction costs		1,112		760
Other		10,869		7,651
Total accrued expenses	$	70,118	$	56,384

Revolving Line of Credit	12 Months Ended
Revolving Line of Credit	Feb. 01, 2020
Revolving Line of Credit
Revolving Line of Credit	(8) Revolving Line of Credit On May 23, 2018, Sportsman’s Warehouse, Inc. (“SWI”), a wholly owned subsidiary of the Company, as lead borrower, and Wells Fargo Bank, National Association (“Wells Fargo”), with a consortium of banks led by Wells Fargo, entered into an Amended and Restated Credit Agreement (as amended, restated, supplemented or otherwise modified, the “Amended Credit Agreement”). The Amended Credit Agreement governs the Company’s senior secured revolving credit facility (“Revolving Line of Credit”) and a $40,000 term loan (the “Term Loan”). The Revolving Line of Credit provides a borrowing capacity of up to $250,000, subject to a borrowing base calculation. Information on the Term Loan is provided in Note 9. In conjunction with the Amended Credit Agreement, the Company incurred $1,331 of fees paid to various parties which were capitalized. Fees associated with the Revolving Line of Credit were recorded in prepaid and other assets. Fees associated with the Term Loan offset the loan balance on the consolidated balance sheet of the Company. As of February 1, 2020, and February 2, 2019, the Company had $ 123,478 and $151,341, respectively, in outstanding revolving loans under the Revolving Line of Credit. Amounts outstanding are offset on the consolidated balance sheets by amounts in depository accounts under lock-box type arrangements, which were $7,400 and $7,035 as of February 1, 2020 and February 2, 2019, respectively. As of February 1, 2020, the Company had stand-by commercial letters of credit of $1,705 under the terms of the Revolving Line of Credit. In addition, on March 13, 2020, the Company borrowed an additional $1,075 under the Revolving Line of Credit to fund the purchase of one additional Field & Stream store. See Note 19, Subsequent Event for additional information. Borrowings under the Revolving Line of Credit bear interest based on either, at the Company’s option, the base rate or LIBOR, in each case plus an applicable margin. The base rate is the higher of (1) Wells Fargo’s prime rate, (2) the federal funds rate (as defined in the credit agreement) plus 0.50% and (3) the one-month LIBOR (as defined in the Amended Credit Agreement) plus 1.00%. The applicable margin for loans under the Revolving Line of Credit, which varies based on the average daily availability, ranges from 0.25% to 0.75% per year for base rate loans and from 1.25% to 1.75% per year for LIBOR loans. The weighted average interest rate on the amount outstanding under the Revolving Line of Credit as of February 1, 2020 was 3.07%. The Company may be required to make mandatory prepayments under the Revolving Line of Credit in the event of a disposition of certain property or assets, in the event of receipt of certain insurance or condemnation proceeds, upon the issuance of certain debt or equity securities, upon the incurrence of certain indebtedness for borrowed money or upon the receipt of certain payments not received in the ordinary course of business. The Amended Credit Agreement contains customary affirmative and negative covenants, including covenants that limit the Company’s ability to incur, create or assume certain indebtedness, to create, incur or assume certain liens, to make certain investments, to make sales, transfers and dispositions of certain property and to undergo certain fundamental changes, including certain mergers, liquidations and consolidations. The Amended Credit Agreement also requires us to maintain a minimum availability at all times of not less than 10% of the gross borrowing base. The Amended Credit Agreement also contains customary events of default. The Revolving Line of Credit matures on May 23, 2023. Each of the subsidiaries of Holdings is a borrower under the Revolving Line of Credit, and all obligations under the Revolving Line of Credit are guaranteed by Holdings. All of the obligations under the Revolving Line of Credit are secured by a lien on substantially all of the Holdings’ tangible and intangible assets and the tangible and intangible assets of all of Holdings’ subsidiaries, including a pledge of all capital stock of each of Holdings’ subsidiaries. The lien securing the obligations under the Revolving Line of Credit is a first priority lien as to certain liquid assets, including cash, accounts receivable, deposit accounts and inventory. As of February 1, 2020, and February 2, 2019 the Amended Credit Agreement had $834 and $1,085, respectively in outstanding deferred financing fees. During the fiscal year ended February 1, 2020 and February 2, 2019, the Company recognized $251 and $195, respectively, of non-cash interest expense with respect to the amortization of deferred financing fees. During the fiscal year ended February 3, 2018, the Company recognized $131 of non-cash interest expense with respect to the amortization of deferred financing fees. As of February 1, 2020, February 2, 2019, and February 3, 2018, gross borrowings under the Revolving Line of Credit were $958,869, $1,023,983, and $909,180, respectively. As of February 1, 2020, February 2, 2019, and February 3, 2018, gross paydowns under the Revolving Line of Credit were $994,666, $950,143, and $912,792, respectively.

Long-Term Debt

12 Months Ended

Feb. 01, 2020

Long-Term Debt

Long-Term Debt

(9) Long-Term Debt

Long-term debt consisted of the following as of February 1, 2020 and February 2, 2019:


	February 1,		February 2,
	2020		2019
Term loan		30,000		36,000
Less debt issuance costs		(283)		(368)
		29,717		35,632
Less current portion, net of discount and debt issuance costs		(5,936)		(7,915)
Long-term portion	$	23,781	$	27,717

Term Loan

On May 23, 2018, Sportsman’s Warehouse, a wholly owned subsidiary of Holdings, as lead borrower, and Wells Fargo, with a consortium of banks led by Wells Fargo, entered into the Amended Credit Agreement. The Amended Credit Agreement governs the Revolving Line of Credit and the Term Loan. The Term Loan was issued at a price of 100% of the aggregate principal amount of $40,000 and has a maturity date of May 23, 2023. Information on the Revolving Credit Facility is provided in Note 8.

The Term Loan bears interest at a rate of LIBOR plus 5.75%. The effective rate for the New Term Loan as of February 1, 2020 was 7.31%

Each of the subsidiaries of Holdings is a borrower under the Term Loan, and all obligations under the Term Loan are guaranteed by Holdings. All of the obligations under the Term Loan are secured by a lien on substantially all of the Holdings’ tangible and intangible assets and the tangible and intangible assets of all of Holdings’ subsidiaries, including a pledge of all capital stock of each of Holdings’ subsidiaries. The lien securing the obligations under the Term Loan is a first priority lien as to certain liquid assets, including cash, accounts receivable, deposit accounts and inventory.

The Term Loan requires quarterly principal payments of $2,000 which began November 1, 2018 and continue until the balance is $24,000 at which time no further payments are needed until May 23, 2023, at which time the remaining balance is due in full.

The Term Loan contains customary affirmative and negative covenants, including covenants that limit the Company’s ability to incur, create or assume certain indebtedness, to incur or assume certain liens, to purchase, hold or acquire certain investments, to declare or make certain dividends and distributions and to engage in certain mergers, consolidations and asset sales. As of February 1, 2020, the Company was in compliance with all of the covenants of the Term Loan.

As of February 1, 2020, and February 2, 2019, the Term Loan had an outstanding balance of $30,000 and $36,000. The outstanding amounts as of February 1, 2020 and February 2, 2019 are offset on the consolidated balance sheets by debt issuance costs of $283 and $368, respectively.

During fiscal year 2019, the Company recognized $85 of non-cash interest expense with respect to the amortization of the deferred financing fees. During fiscal year 2018, the Company recognized $678 and $1,173 of non-cash interest expense with respect to the amortization of the discount and deferred financing fees.

Restricted Net Assets

The provisions of the Term Loan and the Revolving Line of Credit restrict all of the net assets of the Company’s consolidated subsidiaries, which constitute all of the net assets on the Company’s consolidated balance sheet as of February 1, 2020, from being used to pay any dividends without prior written consent from the financial institutions party to the Company’s Term Loan and Revolving Line of Credit.

Sale Leaseback Transactions	12 Months Ended
Sale Leaseback Transactions	Feb. 01, 2020
Leases
Sale Leaseback Transactions	(10) Sale Leaseback Transactions During the fiscal years ended February 1, 2020, February 2, 2019, and February 3, 2018, the Company completed deemed sale-leaseback and sale-leaseback transactions of the land and buildings associated with one, one, and four, store or corporate office locations, respectively. In each of the related lease agreements for the deemed sale leaseback locations, the Company was required to pay all construction costs directly with the right of reimbursement up to a pre-determined tenant allowance. Also, the Company indemnified the landlords with respect to costs arising from third-party damage arising from the acts or omission of employees, sub-lessees, assignees, agent, and/or contractors arising during construction. As a result, and, based on appropriate accounting guidance, the Company was the owner of the land and building during the construction period. The sale occurred when the construction of the assets was substantially complete and the lease terms began. At the time of sale, any assets, up to the value of each pre-determined tenant allowance, were written off the Company’s books, and any remaining assets were considered leasehold improvements. For the sale leaseback transaction, the Company was the owner of the building and paid all construction costs directly. Once construction was deemed complete and occupancy permits were obtained, the Company sold the building and rights to the constructed assets to the landlord for a predetermined amount and were written off the Company’s books. Any remaining assets were considered leasehold improvements or property and equipment. The total value of tenant allowances received under these transactions during fiscal years 2019, 2018, and 2017, was $9,533, $1,717, and $9,022, respectively.

Common Stock	12 Months Ended
Common Stock	Feb. 01, 2020
Secondary Offering
Common Stock	(11) Common Stock Holders of common stock are entitled to one vote per share, and to receive dividends and, upon liquidation or dissolution, are entitled to receive all assets available for distribution to stockholders on a proportional basis with the restricted nonvoting common stockholders. The holders have no preemptive or other subscription rights, and there are no redemption or sinking fund provisions with respect to such shares.

Earnings Per Share

12 Months Ended

Feb. 01, 2020

Earnings Per Share

Earnings Per Share

(12) Earnings Per Share

Basic earnings per share is calculated by dividing net income by the weighted-average number of shares of common stock outstanding, during the period. Diluted earnings per share represents basic earnings per share adjusted to include the potentially dilutive effect of nonvested share awards and nonvested share unit awards.

The following table sets forth the computation of basic and diluted earnings per common share:


	Fiscal Year Ended
	February 1,	February 2,	February 3,
	2020	2019	2018
Net income	$ 20,215	$ 23,750	$ 17,742
Weighted-average shares of common stock outstanding:
Basic	43,166	42,878	42,496
Dilutive effect of common stock equivalents	422	101	26
Diluted	43,588	42,979	42,522
Basic earnings per share	$ 0.47	$ 0.55	$ 0.42
Diluted earnings per share	$ 0.46	$ 0.55	$ 0.42
Restricted stock units considered anti-dilutive and excluded in the calculation	4	56	191

Stock-Based Compensation

12 Months Ended

Feb. 01, 2020

Stock-Based Compensation

Stock-Based Compensation

(13) Stock-Based Compensation

Stock-Based Compensation

The Company recognized total stock-based compensation expense, including expense relating to the employee stock purchase plan, of $2,104, $2,829, and $2,294, during fiscal years 2019, 2018, and 2017, respectively. Compensation expense related to the Company's stock-based payment awards is recognized in selling, general, and administrative expenses in the consolidated statements of income. As of February 1, 2020, and February 2, 2019, respectively, the Company had $3,966 and $2,692 remaining in unrecognized compensation costs, respectively.

Employee Stock Plans

As of February 1, 2020, the number of shares available for awards under the 2019 Performance Incentive Plan (the “2019 Plan”) was 3,169. As of February 1, 2020, there were 956 awards outstanding under the 2019 Plan. All shares granted during the current year were newly issued shares. All subsequent awards were, and all future awards are expected to be, granted under the 2019 Plan.

Nonvested Restricted Stock Awards

During the fiscal years 2019 and 2018, the Company did not issue any nonvested restricted stock awards to employees.

The following table sets forth the rollforward of outstanding nonvested stock awards (per share amounts are not in thousands):


		Weighted
		average
		grant-date
	Shares	fair value
Balance at February 2, 2019	26	$	11.25
Grants	—		—
Forfeitures	—		—
Vested	(26)		11.25
Balance at February 1, 2020	—	$	—

		Weighted
		average
		grant-date
	Shares	fair value
Balance at February 3, 2018	108	$	11.25
Grants	—		—
Forfeitures	(2)		11.25
Vested	(80)		11.25
Balance at February 2, 2019	26	$	11.25

Nonvested Performance-Based Stock Awards

During fiscal year 2019, the Company issued 289 nonvested performance-based stock awards to employees at a weighted average grant date fair value of $3.53 per share. The nonvested performance-based stock awards issued to employees vest at the end of three years. The number of shares issued is contingent on management achieving a fiscal year 2019 performance target for same store sales and gross margin. Based on the performance conditions met for 2019, the finalized granted awards were 226 as presented in the table below.

During fiscal year 2018, the Company issued 163 nonvested performance-based stock awards to employees at a weighted average grant date fair value of $4.91 per share. The nonvested performance-based stock awards issued to employees vest at the end of three years. The number of shares issued was contingent on management achieving a fiscal year 2018 performance target for same store sales and gross margin. Based on the performance conditions met for 2018, the finalized granted awards were 36 as presented in the table below.

The following table sets forth the rollforward of outstanding nonvested performance-based stock awards (per share amounts are not in thousands):


		Weighted
		average
		grant-date
	Shares	fair value
Balance at February 2, 2019	34	$	6.07
Grants	226		3.53
Forfeitures	(3)		4.91
Vested	(7)		11.25
Balance at February 1, 2020	250	$	3.66

		Weighted
		average
		grant-date
	Shares	fair value
Balance at February 3, 2018	49	$	11.25
Grants	36		4.91
Forfeitures	(5)		5.36
Vested	(46)		11.25
Balance at February 2, 2019	34	$	6.07

Nonvested Stock Unit Awards

During the fiscal year 2019, the Company issued 638 nonvested stock units to employees of the Company and independent members of the Board of Directors at a weighted average grant date fair value of $4.13 per share. The shares issued to the independent members of the Board of Directors vest over 12 months with one twelfth vesting each month from the grant date. The shares issued to employees of the Company vest over a three year period with one third of the shares vesting on each grant date anniversary.

During the fiscal year 2018, the Company issued 330 nonvested stock units to employees of the Company and independent members of the Board of Directors at a weighted average grant date fair value of $4.89 per share. The shares issued to the independent members of the Board of Directors vest over 12 months with one twelfth vesting each month from the grant date. The shares issued to employees of the Company vest over a three year period with one third of the shares vesting on each grant date anniversary.

The following table sets forth the rollforward of outstanding nonvested stock units:


		Weighted
		average
		grant-date
	Shares	fair value
Balance at February 2, 2019	441	$	4.92
Grants	638		4.13
Forfeitures	(66)		5.08
Vested	(269)		4.67
Balance at February 1, 2020	744	$	4.32

		Weighted
		average
		grant-date
	Shares	fair value
Balance at February 3, 2018	419	$	5.15
Grants	330		4.89
Forfeitures	(8)		4.91
Vested	(300)		5.23
Balance at February 2, 2019	441	$	4.92

As of February 1, 2020, and February 2, 2019, the weighted average grant date fair value of the outstanding shares was $4.32 and $4.92, respectively.

Employee Stock Purchase Plan

12 Months Ended

Feb. 01, 2020

Stock-Based Compensation

Employee Stock Purchase Plan

(14) Employee Stock Purchase Plan

In June 2015, the Company’s stockholders approved the Sportsman’s Warehouse Holdings, Inc. Employee Stock Purchase Plan (“ESPP”), which provides for the granting of up to 800 shares of the Company’s common stock to eligible employees. The ESPP period is semi-annual and allows participants to purchase the Company’s stock at 85% of the lower of (i) the market value per share of the common stock on the first day of the offering period or (ii) the market value per share of the common stock on the purchase date. The first plan period began on January 1, 2016. Stock-based compensation expense related to the ESPP in fiscal year 2019, 2018, and 2017 was $133, $143, and $160, respectively.

The Company uses the Black-Scholes model to estimate the fair value of shares to be issued as of the grant date using the following weighted average assumptions:


	Fiscal Year Ended	Fiscal Year Ended
	February 1, 2020	February 2, 2019
Risk-free interest rate	1.54%	2.56%
Expected life (in years)	0.5	0.5
Expected volatility	39.0%	32.2%
Dividend yield	—	—

Income Taxes

12 Months Ended

Feb. 01, 2020

Income Taxes

Income Taxes

(15) Income Taxes

For the fiscal years ended February 1, 2020, February 2, 2019, and February 3, 2018, the income tax provision consisted of the following:


	February 1,		February 2,		February 3,
	2020		2019		2018
Current:
Federal	$	4,004	$	4,630	$	12,718
State		540		1,719		1,868
Total current		4,544		6,349		14,586
Deferred:
Federal		1,246		598		780
State		(536)		116		(278)
Total deferred		710		714		502
Total income tax provision	$	5,254	$	7,063	$	15,088

The provision for income taxes differs from the amounts computed by applying the federal statutory rate as follows for the following periods:


	February 1,			February 2,			February 3,
	2020			2019			2018
Federal statutory rate		21.0	%		21.0	%		33.7	%
State tax, net of federal benefit		1.5			4.1			3.8
Permanent items		1.1			2.5			2.0
Other items		(0.2)			(0.4)			(0.2)
Tax credits		(2.8)			—			—
Tax reform adjustment		—			(4.3)			6.7
Effective income tax rate		20.6	%		22.9	%		46.0	%

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at February 1, 2020 and February 2, 2019, respectively, are presented below:


	February 1,		February 2,
	2020		2019
Deferred tax assets:
Accrued liabilities	$	558	$	453
Operating lease liability		63,187		—
Gift card liability		289		—
Goodwill		835		—
Deferred rent		—		11,835
Intangible asset		1,224		1,374
Inventories		1,452		1,940
Sales return reserve		208		185
Capital loss carryforward		39		39
Stock-based compensation		403		290
Loyalty program		2,415		2,191
Total gross deferred tax assets	$	70,610	$	18,307
Deferred tax liabilities:
Depreciation	$	(15,020)	$	(14,670)
ROU asset		(55,272)		—
Prepaid expenses		(836)		(553)
Gift card escheatment		(44)		(87)
Total gross deferred tax liabilities	$	(71,172)	$	(15,310)
Net deferred tax asset (liability)	$	(562)	$	2,997

On December 22, 2017 the U.S. Government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act made broad and complex changes to existing U.S. tax laws that impact the Company. Most notably, the Tax Act reduced the U.S. Federal corporate tax rate from 35 percent to 21 percent effective January 1, 2018. The Tax Act also provides for the acceleration of depreciation for certain assets placed in service after September 27, 2017. The Tax Act also established prospective changes beginning in 2018 including the limitations on the deductibility of certain executive compensation and interest expense. The Company does not expect these limitations to have a significant impact on our consolidated financial statements.

As a result of the Tax Act, the Company recorded a discrete net tax expense of $2,153 in the period ending February 3, 2018. The primary components of this tax expense include $2,600 for the revaluation of U.S. deferred tax assets and liabilities at the new corporate tax rate of 21 percent, offset by a tax benefit of $447 due to the reduction in effective rate based on the time of enactment of the tax law and our fiscal year-end.

Pursuant to Staff Accounting Bulletin 118, the Company was allowed a measurement period of up to one year after the enactment date of the Tax Act to finalize the recording of the related tax impacts. However, the Company did not have any provisional estimates associated with the Tax Act and therefore, did not record any adjustments relating to the Tax Act.

For the year ended February 2, 2019, the Company recorded a discrete net benefit of $1,300 related to Tax Reform. This was a result of certain accounting method changes and other permitted timing adjustments that were ultimately reflected on the Company’s fiscal 2017 tax return filed in fiscal 2018 resulting in a net benefit due to changes in the federal tax rates under the Tax Act.

Deferred tax assets have resulted primarily from the Company’s future deductible temporary differences. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax asset will not be realized. The Company’s ability to realize its deferred tax assets depends upon the generation of sufficient future taxable income as well as the ability to use historical taxable income to allow for the utilization of its deductible temporary differences.

Management evaluates the realizability of the deferred tax assets and the need for additional valuation allowances quarterly. At February 1, 2020, based on current facts and circumstances, management believes that it is more likely than not that the Company will realize benefit for its deferred tax assets.

As of February 1, 2020, the Company had no unrecognized tax benefits. The Company does not anticipate that unrecognized tax benefits will significantly increase or decrease within 12 months of the reporting date. Federal and state tax years that remain subject to examination are periods ended February 1, 2015 through February 2, 2019.

The Company’s policy is to accrue interest expense, and penalties as appropriate, on estimated unrecognized tax benefits as a charge to interest expense in the consolidated statements of income. During fiscal year 2017, the Company accrued interest and penalties of $95. No interest or penalties were accrued for fiscal year 2019 or fiscal year 2018.

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Feb. 01, 2020
Commitments and Contingencies.
Commitments and Contingencies	(16) Commitments and Contingencies Legal Matters The Company is involved in various legal matters generally incidental to its business. After discussion with legal counsel, management is not aware of any matters for which the likelihood of a loss is probable and reasonably estimable and which could have a material impact on its consolidated financial condition, liquidity, or results of operations. Parsons v. Colt’s Manufacturing Company, 2:19-cv-01189-APG-EJY – On July 2, 2019 the estate and family of a victim of the Route 91 Harvest Festival shooting filed litigation against 16 defendants, one of which being a subsidiary of Sportsman’s Warehouse Holdings, Inc., for wrongful death and negligence. The Company believes the plaintiffs’ attempts to re-interpret the federal National Firearms Act and Gun Control Act are improper and intend to vigorously defend ourselves in the matter. No reasonable estimate of the amount of any potential losses or range of potential losses relating to this matter can be determined at this time.

Related-Party Transactions	12 Months Ended
Related-Party Transactions	Feb. 01, 2020
Related-Party Transactions
Related Party Transactions	(17) Related-Party Transactions On August 14, 2009, the Company entered into a reimbursement agreement with Seidler Equity Partners III, L.P. Under the terms of this agreement, the Company agreed to reimburse Seidler Equity Partners III, L.P. for various out-of-pocket costs and expenses related to the Company up to a maximum of $150 annually. During the fiscal years ended February 1, 2020, February 2, 2019, and February 3, 2018, the Company made no significant payments to these related parties. At February 1, 2020 and February 2, 2019, there were no amounts payable under the terms of this agreement.

Retirement Plan	12 Months Ended
Retirement Plan	Feb. 01, 2020
Retirement Plan
Retirement Plan	(18) Retirement Plan The Company sponsors a profit sharing plan (the “Plan”) for which Company contributions are based upon wages paid. As approved by the Board of Directors, the Company makes discretionary contributions to the Plan at rates determined by management. The Company made contributions of $835, $572, and $390, for the fiscal years ended February 1, 2020, February 2, 2019, and February 3, 2018, respectively.

Subsequent Event	12 Months Ended
Subsequent Event	Feb. 01, 2020
Subsequent Event
Subsequent Event	(19) Subsequent Event On February 14, 2020, Sportsman’s Warehouse entered into an Asset Purchase Agreement (the “February Purchase Agreement”) with DICK’S. Pursuant to the February Purchase Agreement, Sportsman’s Warehouse agreed to acquire from DICK’S all cash, inventory, furniture, fixtures, and equipment, and certain other assets related to one Field & Stream store located in Kentucky operated by DICK’S (the “Acquired Kentucky Store”). The February Purchase Agreement is on substantially similar terms to those contained in the Purchase Agreement related to the Acquired Stores in fiscal year 2019. See Note 3 for additional information. The acquisition of the Acquired Kentucky Store closed on March 13, 2020 and the $2.1 million purchase price was funded through borrowings under the Company’s Revolving Line of Credit. The purchase price is also subject to certain post-closing adjustments set forth the February Purchase Agreement and 50% of the agreed upon inventory value of the Acquired Kentucky Store will be paid within 90 days after the closing date. On March 6, 2020, Sportsman’s Warehouse, Inc. entered into an Asset Purchase Agreement (the “March Purchase Agreement”) with DICK’S. Pursuant to the March Purchase Agreement, Sportsman’s Warehouse agreed to acquire from DICK’S all cash, inventory, furniture, fixtures, and equipment, and certain other assets related to one Field & Stream store located in Michigan operated by DICK’S (the “Acquired Michigan Store”). The March Purchase Agreement is on substantially similar terms to those contained in the Purchase Agreement related to the Acquired Stores in fiscal year 2019. See Note 3 for additional information. The acquisition of the Acquired Michigan Store has not closed as of the date of this Form 10-K due to the COVID-19 pandemic The purchase price will be funded through borrowings under the Company’s Revolving Line of Credit. The purchase price will also be subject to certain post-closing adjustments set forth the March Purchase Agreement and 50% of the agreed upon inventory value of the Acquired Michigan Store will be paid within 90 days after the closing date. During March 2020, the World Health Organization declared the rapidly growing coronavirus outbreak to be a global pandemic. The COVID-19 pandemic has significantly impacted health and economic conditions throughout the United States. Beginning in March 2020, we reduced store hours to allow sufficient time to restock our shelves and perform additional cleaning, and we also have limited the number of customers in our stores at any one time. Currently, 3 of our 106 stores have been closed and 8 of our 106 stores have significant restrictions as a result of local and state regulations. We may further restrict the operations of our stores and our distribution facility if we deem this necessary or if recommended or mandated by authorities.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Feb. 01, 2020

Summary of Significant Accounting Policies

Principles of Consolidation

Fiscal Year

Seasonality

The Company’s business is generally seasonal, with a significant portion of total sales occurring during the third and fourth quarters of the fiscal year.

Use of Estimates in the Preparation of Consolidated Financial Statements

Segment Reporting

Cash

Accounts Receivable

Merchandise Inventories

Property and Equipment

Impairment of Long-Lived Assets

Goodwill

Prepaid Expenses and Other

Prepaid expenses and other primarily consists of prepaid expenses, vendor rebates receivable, vendor advertising receivables and miscellaneous deposits.

Leases

The Company elected the following practical expedients:

A package of practical expedients allowing the Company to:

Carry forward its historical lease classification (i.e. it was not necessary to reclassify any existing leases at the adoption date of ASC 842),

Avoid reassessing whether any expired or existing contracts are or contain leases, and

Avoid reassessing initial indirect costs for any existing lease.

For fiscal 2018, the Company evaluated and classified its leases as operating leases for financial reporting purposes, in accordance with ASC 840.

See Note 6 for a further discussion on leases.

Revenue Recognition

Revenue recognition accounting policy

Substantially all of the Company’s revenue is for single performance obligations for the following distinct items:

Retail store sales

E-commerce sales

Gift cards and loyalty rewards program

Sales returns

Contract Balances


	February 1, 2020		February 2, 2019
Right of return assets, which are included in prepaid expenses and other	$	1,683	$	1,496
Estimated gift card contract liability, net of breakage		(13,575)		(11,569)
Estimated loyalty contract liability, net of breakage		(9,621)		(8,729)
Sales return liabilities, which are included in accrued expenses		(2,512)		(2,233)

Practical expedients and policy elections

The Company applied the following practical expedients in its application for Topic 606:

Disaggregation of revenue from contracts with customers


		Fiscal Year Ended
		February 1,	February 2,	February 3,
Department	Product Offerings	2020	2019	2018
Camping	Backpacks, camp essentials, canoes and kayaks, coolers, outdoor cooking equipment, sleeping bags, tents and tools	14.4%	14.2%	15.1%
Clothing	Camouflage, jackets, hats, outerwear, sportswear, technical gear and work wear	9.3%	8.9%	9.3%
Fishing	Bait, electronics, fishing rods, flotation items, fly fishing, lines, lures, reels, tackle and small boats	11.1%	10.6%	10.7%
Footwear	Hiking boots, socks, sport sandals, technical footwear, trail shoes, casual shoes, waders and work boots	7.5%	7.3%	7.4%
Hunting and Shooting	Ammunition, archery items, ATV accessories, blinds and tree stands, decoys, firearms, reloading equipment and shooting gear	49.1%	48.3%	48.7%
Optics, Electronics, Accessories, and Other	Gift items, GPS devices, knives, lighting, optics (e.g. binoculars), two-way radios, and other license revenue, net of revenue discounts	8.6%	10.7%	8.8%
Total		100.0%	100.0%	100.0%

Cost of Goods Sold

Shipping and Handling Fees and Costs

All shipping and handling fees billed to customers are recorded as a component of net sales. All costs incurred related to the shipping and handling of products are recorded in cost of sales.

Vendor Allowances

Health Insurance

Workers Compensation Insurance

Advertising

Stock-Based Compensation

Income Taxes

Fair Value of Financial Instruments

Earnings Per Share

Comprehensive Income

The Company has no components of income that would require classification as other comprehensive income for the fiscal years ended February 1, 2020, February 2, 2019, and February 3, 2018.

Recent Accounting Pronouncements

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Feb. 01, 2020

Summary of Significant Accounting Policies

Schedule of right of return assets, contract liabilities, and sales return liabilities with customers


	February 1, 2020		February 2, 2019
Right of return assets, which are included in prepaid expenses and other	$	1,683	$	1,496
Estimated gift card contract liability, net of breakage		(13,575)		(11,569)
Estimated loyalty contract liability, net of breakage		(9,621)		(8,729)
Sales return liabilities, which are included in accrued expenses		(2,512)		(2,233)

Schedule of Revenue by Departments


		Fiscal Year Ended
		February 1,	February 2,	February 3,
Department	Product Offerings	2020	2019	2018
Camping	Backpacks, camp essentials, canoes and kayaks, coolers, outdoor cooking equipment, sleeping bags, tents and tools	14.4%	14.2%	15.1%
Clothing	Camouflage, jackets, hats, outerwear, sportswear, technical gear and work wear	9.3%	8.9%	9.3%
Fishing	Bait, electronics, fishing rods, flotation items, fly fishing, lines, lures, reels, tackle and small boats	11.1%	10.6%	10.7%
Footwear	Hiking boots, socks, sport sandals, technical footwear, trail shoes, casual shoes, waders and work boots	7.5%	7.3%	7.4%
Hunting and Shooting	Ammunition, archery items, ATV accessories, blinds and tree stands, decoys, firearms, reloading equipment and shooting gear	49.1%	48.3%	48.7%
Optics, Electronics, Accessories, and Other	Gift items, GPS devices, knives, lighting, optics (e.g. binoculars), two-way radios, and other license revenue, net of revenue discounts	8.6%	10.7%	8.8%
Total		100.0%	100.0%	100.0%

Acquisition of Field and Stream Stores (Tables)

12 Months Ended

Feb. 01, 2020

Acquisition of Field and Stream Stores

Summary of the purchase price consideration and related cash outflow


		October 11, 2019
Cash paid to seller	$	19,241
Payable to seller		9,462
Total purchase price	$	28,703

Summary of the estimated fair value of the identifiable assets acquired and assumed liabilities as of the Closing Date


		October 11, 2019
Cash	$	167
Inventory		19,152
Property, plant, and equipment		5,250
Operating lease right of use asset		33,436
Operating lease right of use liability		(31,051)
Deferred tax asset		253
Goodwill		1,496
Total	$	28,703

Summary of pro forma information


		Fiscal Year Ended
		February 1,	February 2,
		2020	2019
Net sales	$	931,703	923,678
Net income	$	20,369	26,624

Earnings per share:
Basic	$	0.47	0.62
Diluted	$	0.47	0.62

Property and Equipment (Tables)

12 Months Ended

Feb. 01, 2020

Property and Equipment.

Schedule of Property and Equipment


	February 1,		February 2,
	2020		2019
Furniture, fixtures, and equipment	$	84,059	$	71,820
Leasehold improvements		103,791		94,573
Construction in progress		1,571		1,743
Total property and equipment, gross		189,421		168,136
Less accumulated depreciation and amortization		(90,654)		(76,052)
Total property and equipment, net	$	98,767	$	92,084

Definite Lived Intangible Assets (Tables)

12 Months Ended

Feb. 01, 2020

Definite Lived Intangible Asset

Summary of Definite Lived Intangible Assets


	February 1, 2020
	Amortization period	Gross carrying amount		Accumulated amortization	Net carrying amount
Amortizing intangible assets:
Domain Name	10 years		257	(37)	220
Total		$	257	(37)	220

	February 2, 2019
	Amortization period	Gross carrying amount		Accumulated amortization	Net carrying amount
Amortizing intangible assets:
Non-compete agreement	5 years	$	9,063	(9,063)	-
Domain Name	10 years		257	(11)	246
Total		$	9,320	(9,074)	246

Leases (Tables)

12 Months Ended

Feb. 01, 2020

Leases

Schedule of other information


	Fiscal Year Ended
	February 1,
	2020
Operating cash flows from operating leases	$	(49,713)
Cash paid for amounts included in the measurement of lease liabilities - operating leases		(49,713)

	As of February 1,
	2020

Right-of-use assets obtained in exchange for new or remeasured operating lease liabilities	$	66,095
Weighted-average remaining lease term - operating leases		6.26
Weighted-average discount rate - operating leases		8.00%

Schedule of maturities of operating lease liabilities


	Operating
Year Endings:	Leases
2020	$	54,380
2021		51,524
2022		47,363
2023		42,700
2024		34,859
Thereafter		130,263
Undiscounted cash flows	$	361,089
Reconciliation of lease liabilities:
Present values	$	251,741
Lease liabilities - current		34,487
Lease liabilities - noncurrent		217,254
Lease liabilities - total	$	251,741
Difference between undiscounted and discounted cash flows	$	109,348

Schedule of rent expense for operating leases in accordance with ASC 840


	Fiscal Year Ended
	February 2,
	2019
Operating lease expense	$	54,027
Total lease expense		54,027

Schedule of future minimum lease payments under non-cancelable leases in accordance with ASC 840


	Operating
Year Endings:	Leases
2019	$	47,551
2020		46,824
2021		43,070
2022		38,160
2023		33,246
Thereafter		74,821
Total minimum lease payments	$	283,672

Accrued Expenses and Other Liabilities (Tables)

12 Months Ended

Feb. 01, 2020

Accrued Expenses and Other Liabilities

Components of Accrued Expenses and Other Liabilities


	February 1,		February 2,
	2020		2019
Book overdraft	$	15,827	$	10,297
Unearned revenue		25,705		21,836
Accrued payroll and related expenses		11,436		11,590
Sales and use tax payable		5,169		4,250
Accrued construction costs		1,112		760
Other		10,869		7,651
Total accrued expenses	$	70,118	$	56,384

Long-Term Debt (Tables)

12 Months Ended

Feb. 01, 2020

Long-Term Debt

Summary of Long-Term Debt

Long-term debt consisted of the following as of February 1, 2020 and February 2, 2019:


	February 1,		February 2,
	2020		2019
Term loan		30,000		36,000
Less debt issuance costs		(283)		(368)
		29,717		35,632
Less current portion, net of discount and debt issuance costs		(5,936)		(7,915)
Long-term portion	$	23,781	$	27,717

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Earnings Per Share (Tables)

12 Months Ended

Feb. 01, 2020

Earnings Per Share

Computation of Basic and Diluted Earnings Per Common Share

The following table sets forth the computation of basic and diluted earnings per common share:


	Fiscal Year Ended
	February 1,	February 2,	February 3,
	2020	2019	2018
Net income	$ 20,215	$ 23,750	$ 17,742
Weighted-average shares of common stock outstanding:
Basic	43,166	42,878	42,496
Dilutive effect of common stock equivalents	422	101	26
Diluted	43,588	42,979	42,522
Basic earnings per share	$ 0.47	$ 0.55	$ 0.42
Diluted earnings per share	$ 0.46	$ 0.55	$ 0.42
Restricted stock units considered anti-dilutive and excluded in the calculation	4	56	191

Stock-Based Compensation (Tables)

12 Months Ended

Feb. 01, 2020

Stock-Based Compensation

Rollforward of Outstanding Nonvested Stock Awards

The following table sets forth the rollforward of outstanding nonvested stock awards (per share amounts are not in thousands):


		Weighted
		average
		grant-date
	Shares	fair value
Balance at February 2, 2019	26	$	11.25
Grants	—		—
Forfeitures	—		—
Vested	(26)		11.25
Balance at February 1, 2020	—	$	—

		Weighted
		average
		grant-date
	Shares	fair value
Balance at February 3, 2018	108	$	11.25
Grants	—		—
Forfeitures	(2)		11.25
Vested	(80)		11.25
Balance at February 2, 2019	26	$	11.25

Rollforward of Outstanding Nonvested Performance-based Stock Awards

The following table sets forth the rollforward of outstanding nonvested performance-based stock awards (per share amounts are not in thousands):


		Weighted
		average
		grant-date
	Shares	fair value
Balance at February 2, 2019	34	$	6.07
Grants	226		3.53
Forfeitures	(3)		4.91
Vested	(7)		11.25
Balance at February 1, 2020	250	$	3.66

		Weighted
		average
		grant-date
	Shares	fair value
Balance at February 3, 2018	49	$	11.25
Grants	36		4.91
Forfeitures	(5)		5.36
Vested	(46)		11.25
Balance at February 2, 2019	34	$	6.07

Rollforward of Outstanding Nonvested Stock Units


		Weighted
		average
		grant-date
	Shares	fair value
Balance at February 2, 2019	441	$	4.92
Grants	638		4.13
Forfeitures	(66)		5.08
Vested	(269)		4.67
Balance at February 1, 2020	744	$	4.32

		Weighted
		average
		grant-date
	Shares	fair value
Balance at February 3, 2018	419	$	5.15
Grants	330		4.89
Forfeitures	(8)		4.91
Vested	(300)		5.23
Balance at February 2, 2019	441	$	4.92

Employee Stock Purchase Plan (Tables)

12 Months Ended

Feb. 01, 2020

Stock-Based Compensation

Schedule of Weighted Average Assumptions Used to Estimate Fair Value of Shares to be Issued


	Fiscal Year Ended	Fiscal Year Ended
	February 1, 2020	February 2, 2019
Risk-free interest rate	1.54%	2.56%
Expected life (in years)	0.5	0.5
Expected volatility	39.0%	32.2%
Dividend yield	—	—

Income Taxes (Tables)

12 Months Ended

Feb. 01, 2020

Income Taxes

Provision for Income Taxes


	February 1,		February 2,		February 3,
	2020		2019		2018
Current:
Federal	$	4,004	$	4,630	$	12,718
State		540		1,719		1,868
Total current		4,544		6,349		14,586
Deferred:
Federal		1,246		598		780
State		(536)		116		(278)
Total deferred		710		714		502
Total income tax provision	$	5,254	$	7,063	$	15,088

Schedule of Federal Statutory Tax Rate


	February 1,			February 2,			February 3,
	2020			2019			2018
Federal statutory rate		21.0	%		21.0	%		33.7	%
State tax, net of federal benefit		1.5			4.1			3.8
Permanent items		1.1			2.5			2.0
Other items		(0.2)			(0.4)			(0.2)
Tax credits		(2.8)			—			—
Tax reform adjustment		—			(4.3)			6.7
Effective income tax rate		20.6	%		22.9	%		46.0	%

Schedule of Deferred Tax Assets and Liabilities


	February 1,		February 2,
	2020		2019
Deferred tax assets:
Accrued liabilities	$	558	$	453
Operating lease liability		63,187		—
Gift card liability		289		—
Goodwill		835		—
Deferred rent		—		11,835
Intangible asset		1,224		1,374
Inventories		1,452		1,940
Sales return reserve		208		185
Capital loss carryforward		39		39
Stock-based compensation		403		290
Loyalty program		2,415		2,191
Total gross deferred tax assets	$	70,610	$	18,307
Deferred tax liabilities:
Depreciation	$	(15,020)	$	(14,670)
ROU asset		(55,272)		—
Prepaid expenses		(836)		(553)
Gift card escheatment		(44)		(87)
Total gross deferred tax liabilities	$	(71,172)	$	(15,310)
Net deferred tax asset (liability)	$	(562)	$	2,997

Nature of Business (Details)	Feb. 01, 2020 state store
Nature of Business
Number of stores \| store	103
Number of states \| state	27

Summary of Significant Accounting Policies (Details) $ in Thousands		12 Months Ended
	Feb. 03, 2018	Feb. 01, 2020 USD ($) segment subsidiary	Feb. 02, 2019 USD ($)	Feb. 03, 2018 USD ($)	Feb. 04, 2018 USD ($)
Significant Accounting Policies [Line Items]
Number of subsidiaries \| subsidiary		4
Fiscal period duration		364 days	364 days	371 days
Number of reportable segments \| segment		1
Number of operating segments \| segment		1
Allowance for doubtful accounts receivable		$ 0	$ 0
Inventory write downs		5,761	7,012
Impairment charge to long-lived assets		0	0	$ 0
Impairment of goodwill		0	0	0
Prepaid expenses and other		12,732	15,174
Deferred tax assets			2,997
Accumulated earnings (deficit)		23,029	(6,441)
Gift card redemption period	2 years
Loyalty reward redemption period	18 months
Stop-loss insurance maintained by health insurance company, deductible per person under health insurance		100
Reserve on claims included in accrued expenses		945	900
Stop-loss insurance maintained by workers compensation insurance company, deductible per person under workers compensation insurance		150
Workers compensation plan, estimated IBNR		902	1,045
Advertising Expense		11,493	8,437	7,760
Comprehensive Income (Loss), Net of Tax, Attributable to Parent		$ 0	0	$ 0
Minimum
Significant Accounting Policies [Line Items]
Furniture, fixtures, and equipment, estimated useful life		P3Y
Maximum
Significant Accounting Policies [Line Items]
Furniture, fixtures, and equipment, estimated useful life		P10Y
Adjustments due to Topic 606
Significant Accounting Policies [Line Items]
Prepaid expenses and other					$ 1,054
Accrued expenses related to sales return liability					1,054
Accrued expenses related to loyalty rewards and gift cards					(3,521)
Deferred tax assets					(884)
Accumulated earnings (deficit)					$ (2,634)
Wells Fargo Senior Secured Revolving Credit Facility
Significant Accounting Policies [Line Items]
In Transit Deposits		$ 7,400	$ 7,035

Summary of Significant Accounting Policies - Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 01, 2020	Feb. 03, 2019	Feb. 02, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right-of-use assets	$ 224,520
Lease liabilities	251,741
Retained earnings	$ 23,029		$ (6,441)
Package of practical expedient	true
Land easement practical expedient	true
Use of hindsight practical expedient	false
ASU 2016-02 \| Restatement
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right-of-use assets		$ 183,000
Lease liabilities		214,000
Retained earnings		$ 9,300

Summary of Significant Accounting Policies - Revenue Recognition Accounting Policy (Details) $ in Thousands	12 Months Ended
	Feb. 01, 2020 USD ($)
Summary of Significant Accounting Policies
Gift card historical breakage (as a percent)	3.50%
Gift card escheat liability	$ 0
Redemption Period	2 years
Breakage of loyalty reward (as a percent)	50.00%
Loyalty reward escheat liability	$ 0

Summary of Significant Accounting Policies - Contract Balances (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
Disaggregation of Revenue [Line Items]
Right of return assets, which are included in prepaid expenses and other	$ 1,683	$ 1,496
Sales return liabilities, which are included in accrued expenses	(2,512)	(2,233)
Gift breakage income	1,430	1,007	$ 1,337
Recognized customer loyalty program breakage income	2,480	1,439	$ 1,022
Revenue related to the gift card liability	$ 8,219	8,802
Revenue from contract with customer liability recognition period	2 years
Gift Card
Disaggregation of Revenue [Line Items]
Estimated contract liabilities, net of breakage	$ (13,575)	(11,569)
Loyalty Reward Program
Disaggregation of Revenue [Line Items]
Estimated contract liabilities, net of breakage	$ (9,621)	$ (8,729)

Summary of Significant Accounting Policies - Disaggregation of revenue from contracts with customers (Details)	12 Months Ended
	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
Disaggregation of revenue from contracts with customers
Net sales (as a percent)	100.00%	100.00%	100.00%
Camping
Disaggregation of revenue from contracts with customers
Net sales (as a percent)	14.40%	14.20%	15.10%
Clothing
Disaggregation of revenue from contracts with customers
Net sales (as a percent)	9.30%	8.90%	9.30%
Fishing
Disaggregation of revenue from contracts with customers
Net sales (as a percent)	11.10%	10.60%	10.70%
Footwear
Disaggregation of revenue from contracts with customers
Net sales (as a percent)	7.50%	7.30%	7.40%
Hunting and Shooting
Disaggregation of revenue from contracts with customers
Net sales (as a percent)	49.10%	48.30%	48.70%
Optics, Electronics, Accessories, and Other
Disaggregation of revenue from contracts with customers
Net sales (as a percent)	8.60%	10.70%	8.80%

Acquisition of Field and Stream Stores (Details) $ in Thousands			1 Months Ended	12 Months Ended
	Oct. 11, 2019 USD ($) store	Sep. 28, 2019 USD ($) store	Mar. 31, 2020 store	Feb. 01, 2020 USD ($)
Business Acquisition [Line Items]
Number of stores acquired \| store			1
Sportsman’s Warehouse, Inc \| DICK’S
Business Acquisition [Line Items]
Number of stores acquired \| store		8
Number Of Acquired Stores Closed \| store	8
Maximum period for which transition services will be provided		120 days
Aggregate consideration \| $	$ 28,703	$ 28,700
Acquisition related cost \| $				$ 662
Sportsman’s Warehouse, Inc \| DICK’S \| Revolving Credit Facility
Business Acquisition [Line Items]
Amount drawn \| $		$ 19,800

Acquisition of Field and Stream Stores - Purchase price consideration and related cash outflow (Details) - USD ($) $ in Thousands	Oct. 11, 2019	Sep. 28, 2019	Jan. 31, 2020
Business Acquisition [Line Items]
Payable to seller			$ 9,000
Liabilities except leases assumed	$ 0
DICK’S \| Sportsman’s Warehouse, Inc
Business Acquisition [Line Items]
Cash paid to seller	19,241
Payable to seller	9,462
Total purchase price	$ 28,703	$ 28,700

Acquisition of Field and Stream Stores - Estimated fair value of the identifiable assets acquired and assumed liabilities (Details) - USD ($) $ in Thousands	4 Months Ended	12 Months Ended
	Feb. 01, 2020	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018	Oct. 11, 2019
Business Combination Recognized Identifiable Assets Acquired And Assumed Liabilities
Cash					$ 167
Inventory					19,152
Property, plant, and equipment					5,250
Operating lease right of use asset					33,436
Operating lease right of use liability					(31,051)
Deferred tax asset					253
Goodwill	$ 1,496	$ 1,496			1,496
Total					$ 28,703
Amount of goodwill amortizable for tax purpose	4,134	4,134
Net sales	24,345	886,401	$ 849,129	$ 809,671
Net income	$ 2,246	$ 20,215	$ 23,750	$ 17,742

Acquisition of Field and Stream Stores - Pro forma results - (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Feb. 01, 2020	Feb. 02, 2019
Business Acquisitions ProForma
Net sales	$ 931,703	$ 923,678
Net income	$ 20,369	$ 26,624
Basic	$ 0.47	$ 0.62
Diluted	$ 0.47	$ 0.62

Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
Property Plant And Equipment [Line Items]
Total property and equipment, gross	$ 189,421	$ 168,136
Less accumulated depreciation and amortization	(90,654)	(76,052)
Total property and equipment, net	98,767	92,084
Depreciation expense	19,294	17,961	$ 15,864
Furniture, fixtures, and equipment
Property Plant And Equipment [Line Items]
Total property and equipment, gross	84,059	71,820
Leasehold improvements
Property Plant And Equipment [Line Items]
Total property and equipment, gross	103,791	94,573
Construction in progress
Property Plant And Equipment [Line Items]
Total property and equipment, gross	$ 1,571	$ 1,743

Definite Lived Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 01, 2020	Feb. 02, 2019
Finite-Lived Intangible Assets, Net [Abstract]
Gross carrying amount	$ 257	$ 9,320
Accumulated amortization	(37)	(9,074)
Net carrying amount	$ 220	246
Non-compete agreement
Finite-Lived Intangible Assets, Net [Abstract]
Amortization period	5 years
Gross carrying amount		9,063
Accumulated amortization		$ (9,063)
Domain Name
Finite-Lived Intangible Assets, Net [Abstract]
Amortization period	10 years	10 years
Gross carrying amount	$ 257	$ 257
Accumulated amortization	(37)	(11)
Net carrying amount	$ 220	$ 246

Definite Lived Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
Definite Lived Intangible Asset
Amortization expense for definite lived intangible asset, fiscal year	$ 26	$ 289	$ 1,842

Leases (Details) - USD ($) $ in Thousands	12 Months Ended
Leases (Details) - USD ($) $ in Thousands	Feb. 01, 2020	Feb. 03, 2019	Feb. 02, 2019
Lessee, Lease, Description [Line Items]
Options to extend	true
Operating lease right of use asset	$ 224,520
Operating lease liabilities	251,741
Deferred rent			$ 41,854
Retained earnings	23,029		$ (6,441)
Increase in ROU assets and operating lease liabilities	66,095
ASU 2016-02 \| Restatement
Lessee, Lease, Description [Line Items]
Operating lease right of use asset		$ 183,000
Operating lease liabilities		214,000
Deferred rent	14,200
Tenant improvement allowances	20,600
Prepaid rent	$ 3,800
Retained earnings		$ 9,300
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	10 years

Leases - Other Information (Details) $ in Thousands	12 Months Ended
Leases - Other Information (Details) $ in Thousands	Feb. 01, 2020 USD ($)
Leases
Lease expense	$ 59,846
Operating cash flows from operating leases - Cash paid for amounts included in the measurement of lease liabilities	(49,713)
Right-of-use assets obtained in exchange for new or remeasured operating lease liabilities	$ 66,095
Weighted-average remaining lease term - operating leases	6 years 3 months 4 days
Weighted-average discount rate - operating leases	8.00%

Leases - ASC 842 Maturities (Details) - USD ($) $ in Thousands	Jan. 30, 2021	Feb. 01, 2020
Maturities:
2020		$ 54,380
2021		51,524
2022		47,363
2023		42,700
2024		34,859
Thereafter		130,263
Undiscounted cash flows		361,089
Reconciliation of lease liabilities:
Lease liabilities - current		34,487
Lease liabilities - noncurrent		217,254
Lease liabilities - total		251,741
Difference between undiscounted and discounted cash flows		$ 109,348
Forecast
Reconciliation of lease liabilities:
Lease liabilities - noncurrent	$ 11,600
Maximum \| Forecast
Reconciliation of lease liabilities:
Lease term	10 years
Minimum \| Forecast
Reconciliation of lease liabilities:
Lease term	5 years

Leases - ASC 840 Rent Expenses (Details) $ in Thousands	12 Months Ended
Leases - ASC 840 Rent Expenses (Details) $ in Thousands	Feb. 02, 2019 USD ($)
Leases
Operating lease expense	$ 54,027
Total lease expense	$ 54,027

Leases - ASC 840 Maturities (Details) $ in Thousands	Feb. 02, 2019 USD ($)
Maturities:
2019	$ 47,551
2020	46,824
2021	43,070
2022	38,160
2023	33,246
Thereafter	74,821
Total minimum lease payments	$ 283,672

Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Feb. 01, 2020	Feb. 02, 2019
Accrued Expenses and Other Liabilities
Book overdraft	$ 15,827	$ 10,297
Unearned revenue	25,705	21,836
Accrued payroll and related expenses	11,436	11,590
Sales and use tax payable	5,169	4,250
Accrued construction costs	1,112	760
Other	10,869	7,651
Total accrued expenses	$ 70,118	$ 56,384

Revolving Line Of Credit (Details) $ in Thousands			1 Months Ended	12 Months Ended
Revolving Line Of Credit (Details) $ in Thousands	Mar. 13, 2020 USD ($) store	May 23, 2018 USD ($)	Mar. 31, 2020 store	Feb. 01, 2020 USD ($)	Feb. 02, 2019 USD ($)	Feb. 03, 2018 USD ($)
Line Of Credit Facility [Line Items]
Capitalization of fees paid		$ 1,331
Number of stores acquired \| store			1
Amortization of deferred financing fees				$ 85	$ 1,173
Gross borrowings under revolving line of credit				958,869	1,023,983	$ 909,180
Gross paydowns under revolving line of credit				994,666	950,143	912,792
Wells Fargo Senior Secured Revolving Credit Facility
Line Of Credit Facility [Line Items]
Line of credit facility, amount outstanding	$ 1,075			123,478	151,341
Amounts in depository under lock-box arrangements				$ 7,400	7,035
Line Of Credit Facility Covenant Terms				The Amended Credit Agreement also requires us to maintain a minimum availability at all times of not less than 10% of the gross borrowing base
Number of stores acquired \| store	1
Line of credit , maturity date				May 23, 2023
Weighted average interest rate on amount outstanding				3.07%
Deferred financing fees outstanding				$ 834	1,085
Amortization of deferred financing fees				$ 251	$ 195	$ 131
Wells Fargo Senior Secured Revolving Credit Facility \| Minimum
Line Of Credit Facility [Line Items]
Line of credit facility gross borrowing base percentage				10.00%
Wells Fargo Senior Secured Revolving Credit Facility \| Maximum
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		250,000
Wells Fargo Senior Secured Revolving Credit Facility \| Federal Funds Rate
Line Of Credit Facility [Line Items]
Term loan interest rate (as a percent)				0.50%
Wells Fargo Senior Secured Revolving Credit Facility \| Base Rate \| Minimum
Line Of Credit Facility [Line Items]
Term loan interest rate (as a percent)				0.25%
Wells Fargo Senior Secured Revolving Credit Facility \| Base Rate \| Maximum
Line Of Credit Facility [Line Items]
Term loan interest rate (as a percent)				0.75%
Wells Fargo Senior Secured Revolving Credit Facility \| LIBOR
Line Of Credit Facility [Line Items]
Term loan interest rate (as a percent)				1.00%
Wells Fargo Senior Secured Revolving Credit Facility \| LIBOR \| Minimum
Line Of Credit Facility [Line Items]
Term loan interest rate (as a percent)				1.25%
Wells Fargo Senior Secured Revolving Credit Facility \| LIBOR \| Maximum
Line Of Credit Facility [Line Items]
Term loan interest rate (as a percent)				1.75%
New Term Loan
Line Of Credit Facility [Line Items]
New term loan		$ 40,000
New Term Loan \| LIBOR
Line Of Credit Facility [Line Items]
Term loan interest rate (as a percent)		5.75%
Wells Fargo Stand-by Commercial Letters of Credit
Line Of Credit Facility [Line Items]
Net borrowing available under revolving line of credit				$ 1,705

Long-Term Debt (Details) - USD ($) $ in Thousands	Feb. 01, 2020	Feb. 02, 2019
Less current portion, net of discount and debt issuance costs	$ (5,936)	$ (7,915)
Long-term portion	23,781	27,717
Prior Term Loan
Term loan		36,000
Less debt issuance costs		(368)
Long-term debt		35,632
Less current portion, net of discount and debt issuance costs		(7,915)
Long-term portion		$ 27,717
New Term Loan
Term loan	30,000
Less debt issuance costs	(283)
Long-term debt	29,717
Less current portion, net of discount and debt issuance costs	(5,936)
Long-term portion	$ 23,781

Long-Term Debt - Additional Information (Details) - USD ($) $ in Thousands		12 Months Ended
	May 23, 2018	Feb. 01, 2020	Feb. 02, 2019
Debt Instrument [Line Items]
Amortization of deferred financing fees		$ 85	$ 1,173
Amortization of discount			678
New Term Loan
Debt Instrument [Line Items]
Debt instrument issuance price, percentage of aggregate principal amount	100.00%
New term loan	$ 40,000
Line of credit, maturity date	May 23, 2023
Term loan effective rate		7.31%
Quarterly loan payment		$ 2,000
Final Installment amount		24,000
Term loan		30,000
Unamortized debt issuance costs		$ 283
Prior Term Loan
Debt Instrument [Line Items]
Term loan			36,000
Unamortized debt issuance costs			$ 368
LIBOR \| New Term Loan
Debt Instrument [Line Items]
Term loan interest rate (as a percent)	5.75%

Sale Leaseback Transactions (Details) $ in Thousands	12 Months Ended
Sale Leaseback Transactions (Details) $ in Thousands	Feb. 01, 2020 USD ($) store	Feb. 02, 2019 USD ($) store	Feb. 03, 2018 USD ($) store
Sale Leaseback Transaction [Line Items]
Number of stores	103
Land and Buildings \| One Store Locations
Sale Leaseback Transaction [Line Items]
Number of stores	1	1
Tenant allowance received \| $	$ 9,533	$ 1,717
Land and Buildings \| Four Store Locations
Sale Leaseback Transaction [Line Items]
Number of stores			4
Tenant allowance received \| $			$ 9,022

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	4 Months Ended	12 Months Ended
	Feb. 01, 2020	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
Earnings Per Share
Net income	$ 2,246	$ 20,215	$ 23,750	$ 17,742
Weighted-average shares of common stock outstanding:
Basic		43,166	42,878	42,496
Dilutive effect of common stock equivalents		422	101	26
Diluted		43,588	42,979	42,522
Basic earnings per share		$ 0.47	$ 0.55	$ 0.42
Diluted earnings per share		$ 0.46	$ 0.55	$ 0.42
Restricted stock units considered anti-dilutive and excluded in the calculation		4	56	191

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1337-109256

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=117327953&loc=d3e4984-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=116634182&loc=SL114868664-224227

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=117326831&loc=d3e1252-109256

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=116637391&loc=SL114874048-224260

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=117326831&loc=SL5780133-109256

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation	$ 2,104	$ 2,829	$ 2,294
Unrecognized compensation costs	$ 3,966	$ 2,692
Nonvested Restricted Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vested, Shares	(26)	(80)
Nonvested Performance-Based Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of nonvested stock units	226	36
Nonvested stock issued, weighted average grant date fair value per share	$ 3.53	$ 4.91
Vested, Shares	(7)	(46)
Nonvested Stock Unit Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of nonvested stock units	638	330
Nonvested stock issued, weighted average grant date fair value per share	$ 4.13	$ 4.89
Vested, Shares	(269)	(300)
Employees \| Nonvested Restricted Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of nonvested stock units	0	0
Employees \| Nonvested Performance-Based Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of nonvested stock units	289	163
Nonvested stock issued, weighted average grant date fair value per share	$ 3.53	$ 4.91
Nonvested stock awards vested over grant date	3 years	3 years
Employees \| Nonvested Stock Unit Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Nonvested stock awards vested over grant date	3 years	3 years
Vesting percentage	33.00%	33.00%
Board Of Directors \| Nonvested Stock Unit Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Nonvested stock awards vested over grant date	12 months	12 months
Vesting percentage	8.33%	8.33%
Employees And Board Of Directors \| Nonvested Stock Unit Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of nonvested stock units	638	330
Nonvested stock issued, weighted average grant date fair value per share	$ 4.13	$ 4.89
Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation	$ 133	$ 143	160
2019 Plan \| Employee Stock Plans
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for awards	3,169
Number of awards outstanding	956
Selling, General and Administrative Expenses
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation	$ 2,104	$ 2,829	$ 2,294

Stock-Based Compensation - Additional Information (Details) - $ / shares shares in Thousands	12 Months Ended
	Feb. 01, 2020	Feb. 02, 2019
Nonvested Restricted Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning balance, Shares	26	108
Forfeitures, Shares		(2)
Vested, Shares	(26)	(80)
Ending balance, Shares		26
Beginning balance, Weighted average grant-date fair value	$ 11.25	$ 11.25
Forfeitures, Weighted average grant-date fair value		11.25
Vested, Weighted average grant-date fair value	$ 11.25	11.25
Ending balance, Weighted average grant-date fair value		$ 11.25
Nonvested Performance-Based Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning balance, Shares	34	49
Grants, Shares	226	36
Forfeitures, Shares	(3)	(5)
Vested, Shares	(7)	(46)
Ending balance, Shares	250	34
Beginning balance, Weighted average grant-date fair value	$ 6.07	$ 11.25
Grants, Weighted average grant-date fair value	3.53	4.91
Forfeitures, Weighted average grant-date fair value	4.91	5.36
Vested, Weighted average grant-date fair value	11.25	11.25
Ending balance, Weighted average grant-date fair value	$ 3.66	$ 6.07
Nonvested Stock Unit Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning balance, Shares	441	419
Grants, Shares	638	330
Forfeitures, Shares	(66)	(8)
Vested, Shares	(269)	(300)
Ending balance, Shares	744	441
Beginning balance, Weighted average grant-date fair value	$ 4.92	$ 5.15
Grants, Weighted average grant-date fair value	4.13	4.89
Forfeitures, Weighted average grant-date fair value	5.08	4.91
Vested, Weighted average grant-date fair value	4.67	5.23
Ending balance, Weighted average grant-date fair value	$ 4.32	$ 4.92

Employee Stock Purchase Plan (Details) - USD ($) shares in Thousands, $ in Thousands	1 Months Ended	12 Months Ended
	Jun. 30, 2015	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		$ 2,104	$ 2,829	$ 2,294
Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares granted under ESPP	800
Percentage of market value per share fixed as purchase price	85.00%
Stock-based compensation expense		$ 133	$ 143	$ 160

Employee Stock Purchase Plan - Additional Information (Details)	12 Months Ended
	Feb. 01, 2020	Feb. 02, 2019
Stock-Based Compensation
Risk-free interest rate	1.54%	2.56%
Expected life (in years)	6 months	6 months
Expected volatility	39.00%	32.20%

Income Taxes - Provision for Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
Current:
Federal	$ 4,004	$ 4,630	$ 12,718
State	540	1,719	1,868
Total current	4,544	6,349	14,586
Deferred:
Federal	1,246	598	780
State	(536)	116	(278)
Total deferred	710	714	502
Total income tax provision	$ 5,254	$ 7,063	$ 15,088

Income Taxes - Schedule of Federal Statutory Tax Rate (Details)	12 Months Ended
	Feb. 01, 2020	Dec. 31, 2019	Feb. 02, 2019	Dec. 31, 2018	Feb. 03, 2018	Dec. 31, 2017
Reconciliation of the federal statutory income tax rate to the effective income tax rate
Federal statutory rate	21.00%	21.00%	21.00%	21.00%	33.70%	35.00%
State tax, net of federal benefit	1.50%		4.10%		3.80%
Permanent items	1.10%		2.50%		2.00%
Other items	(0.20%)		(0.40%)		(0.20%)
Tax credits	(2.80%)
Tax reform adjustment			(4.30%)		6.70%
Effective income tax rate	20.60%		22.90%		46.00%

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Feb. 01, 2020	Feb. 02, 2019
Deferred tax assets:
Accrued liabilities	$ 558	$ 453
Operating lease liability	63,187
Gift card liability	289
Goodwill	835
Deferred rent		11,835
Intangible asset	1,224	1,374
Inventories	1,452	1,940
Sales return reserve	208	185
Capital loss carryforward	39	39
Stock-based compensation	403	290
Loyalty program	2,415	2,191
Total gross deferred tax assets	70,610	18,307
Deferred tax liabilities:
Depreciation	(15,020)	(14,670)
ROU asset	(55,272)
Prepaid expenses	(836)	(553)
Gift card escheatment	(44)	(87)
Total gross deferred tax liabilities	(71,172)	(15,310)
Net deferred tax asset (liability)		$ 2,997
Net deferred tax asset (liability)	$ (562)

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 01, 2020	Dec. 31, 2019	Feb. 02, 2019	Dec. 31, 2018	Feb. 03, 2018	Dec. 31, 2017
Income Taxes
U.S. Federal statutory rate	21.00%	21.00%	21.00%	21.00%	33.70%	35.00%
Discrete net tax expense					$ 2,153
Tax expense					2,600
Tax benefit					447
Discrete net benefit related to tax reform			$ 1,300
Unrecognized tax benefits	$ 0
Accrued interest and penalties	$ 0		$ 0		$ 95

Related-Party Transactions (Details) - Seidler Equity Partners III L.P. - USD ($) $ in Thousands	12 Months Ended
	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
Related Party Transaction [Line Items]
Related party agreement date	Aug. 14, 2009
Payments made to related party	$ 0	$ 0	$ 0
Amounts payable to related party	0	$ 0
Maximum
Related Party Transaction [Line Items]
Reimbursement cost and expenses of related party	$ 150

Retirement Plan (Details) - USD ($) $ in Thousands	12 Months Ended
Retirement Plan (Details) - USD ($) $ in Thousands	Feb. 01, 2020	Feb. 02, 2019	Feb. 03, 2018
Retirement Plan
Company contribution under plan	$ 835	$ 572	$ 390

Subsequent Event (Details)					1 Months Ended
Subsequent Event (Details)	Mar. 06, 2020 store	Feb. 14, 2020 USD ($) store	Oct. 11, 2019 USD ($)	Sep. 28, 2019 USD ($) store	Mar. 31, 2020 USD ($) store
Subsequent Event
Number of stores acquired					1
Sportsman’s Warehouse, Inc \| DICK’S
Subsequent Event
Number of stores acquired				8
Total purchase price \| $			$ 28,703,000	$ 28,700,000
Subsequent Event
Subsequent Event
Number of stores closed					3
Number of stores with significant restrictions \| $					$ 8
Number of stores					106
Subsequent Event \| Sportsman’s Warehouse, Inc \| DICK’S
Subsequent Event
Number of stores acquired	1	1
Total purchase price \| $		$ 2,100,000
Percentage of inventory to be paid within 90 days	50.00%	50.00%