Stock Repurchase Program

3 Months Ended

May 05, 2018

Treasury Stock Transactions [Abstract]

Treasury Stock [Text Block]

Stock Repurchase Plan

On August 22, 2017, the Company announced that its Board of Directors authorized a stock repurchase plan providing for the purchase in the aggregate of up to $10 million of the Company’s outstanding common stock. Repurchases of shares will be made in accordance with applicable securities laws and may be made from time to time in the open market or by negotiated transactions. The amount and timing of repurchases will be based on a variety of factors, including stock acquisition price, regulatory limitations and other market and economic factors. The stock repurchase plan does not require the Company to repurchase any specific number of shares, and the Company may terminate the repurchase plan at any time. For the 13-week period ended May 5, 2018, the Company repurchased and retired 315,548 shares of common stock at an aggregate cost of approximately $3.0 million under this stock repurchase plan. As of May 5, 2018, the Company had approximately $6.4 million remaining under the plan.