STOCKHOLDERS' EQUITY

9 Months Ended

Nov. 12, 2011

Stockholders' Equity Attributable to Parent [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY

On August 24, 2011, the Company's Board of Directors authorized an extension of its share repurchase program and an increase in total shares from 1.0 million to 1.5 million shares.   During the 40 weeks ended November 12, 2011, the Company repurchased 52,937 shares of its common stock at an average price of $20.54 per share. As disclosed in Note 7, the Company is restricted from share repurchases until it presents evidence of its compliance with its debt covenants.

On November 17, 2011, the Company declared a fourth quarter cash dividend of 25 cents per share which was paid on December 5, 2011, in the amount of $1.8 million, to shareholders of record as of November 28, 2011.

On August 10, 2011, the stockholders of the Company approved an amendment to the Articles of Incorporation of the Company to reduce the number of authorized shares of common stock from 50 million shares to 16 million shares.