Share Repurchases

9 Months Ended

Oct. 29, 2016

Share Repurchases

Share Repurchases

10. Share Repurchases

Effective July 14, 2016, the Company’s board of directors authorized the repurchase of up to $5 million of the Company’s common stock over the subsequent 12 months, as described in the Company’s press release issued on July 14, 2016. Repurchases will be made from time to time in the manner the Company believes appropriate, through open market or private transactions including through pre-established trading plans.

Purchases will be made in compliance with SEC rules and regulations, subject to market conditions, applicable legal requirements, and other relevant factors. The Company is not obligated to acquire any particular amount of common stock.

During the three months ended October 29, 2016, the Company repurchased 422,720 shares of its common stock for a total cost of approximately $1.0 million, including commission.