XML 26 R14.htm IDEA: XBRL DOCUMENT v3.21.2
Share Repurchase Plan
6 Months Ended
Jul. 31, 2021
Treasury Stock Transactions [Abstract]  
Share Repurchase Plan

Note 8 – Share Repurchase Plan

On September 24, 2018, the Company announced that its Board of Directors authorized a share repurchase plan providing for the purchase in the aggregate of up to $10 million of the Company’s outstanding common stock. This share repurchase plan was completed during the fourth quarter of fiscal 2020. On December 3, 2020, the Company announced that its Board of Directors authorized a new share repurchase plan providing for the purchase in the aggregate of up to $20 million of the Company’s outstanding common stock. Repurchases of shares are 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 are based on a variety of factors, including stock price, regulatory limitations and other market and economic factors. The share 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. As of July 31, 2021, the Company had approximately $6.5 million remaining under the current share repurchase plan. The table below sets forth selected share repurchase plan information (in thousands, except share amounts) for the periods indicated:

 

 

 

13-Week Period Ended

 

 

26-Week Period Ended

 

 

 

July 31, 2021

 

 

August 1, 2020

 

 

July 31, 2021

 

 

August 1, 2020

 

Shares repurchased and retired

 

 

561,548

 

 

 

 

 

 

608,898

 

 

 

 

Share repurchase cost

 

$

12,008

 

 

$

 

 

$

13,364

 

 

$