Stock Repurchase Program

9 Months Ended

Nov. 01, 2014

Equity [Abstract]

Stock Repurchase Program

Note 7 — Stock Repurchase Program

On May 22, 2014, the Company announced that its Board of Directors authorized a stock repurchase plan providing for the purchase in the aggregate of up to $30 million of the Company’s outstanding common stock from time to time until May 2016. Through November 1, 2014, the Company repurchased and retired approximately 227,000 shares of common stock at an aggregate cost of approximately $3.9 million under this repurchase plan. As of November 1, 2014, the Company had $26.1 million remaining under the Board of Director’s current authorization to repurchase its common stock. Subsequent to November 1, 2014, the Company has repurchased and retired approximately 20,000 shares of common stock at an aggregate cost of $356,000.