Financing Arrangements - Notes to Financial Statements

12 Months Ended

Jan. 30, 2021

Financing Arrangements [Abstract]

Financing Arrangements

8. Financing Arrangements:

As of January 30, 2021, the Company had an unsecured revolving credit agreement to borrow $

35.0

million less the balance of any revocable credits discussed below. The revolving credit agreement is

committed until May 2023. The credit agreement contains various financial covenants and limitations,

including the maintenance of specific financial ratios with which the Company was in compliance as of

January 30, 2021. There were no borrowings outstanding under this credit facility as of January 30, 2021,

February 1, 2020 or February 2, 2019. At January 30, 2021, the weighted average interest rate under the

credit facility was zero due to no borrowings outstanding at the end of the year.

At January 30, 2021, February 1, 2020 and February 2, 2019, the Company had no outstanding revocable

letters of credit relating to purchase commitments.