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SUBSEQUENT EVENT
12 Months Ended
Feb. 03, 2018
Subsequent Events [Abstract]  
SUBSEQUENT EVENT

NOTE 16 – SUBSEQUENT EVENT

 

Effective April 24, 2018, Michael K. Bloom resigned from his position as the Company’s Chief Executive Officer and a director to pursue other opportunities. His resignation was not a result of any disagreement with the Company or its operations. In connection with his resignation, Mr. Bloom executed a Separation Agreement and General Release, effective as of April 24, 2018, pursuant to which he will continue to receive his regular base salary through May 24, 2018, and will receive severance payments totaling $1,166,666.67 and the continuation of benefits in exchange for a general release of all claims against the Company.

 

Additionally, on April 27, 2018, each of Timothy Liebmann, the Company’s Chief Operating Officer – Pharmacy, and Mary Lou Gardner, the Company’s Chief Merchandising and Marketing Officer, resigned, effective immediately, to pursue other opportunities. In connection with their resignation, each of Mr. Liebmann and Ms. Gardner will receive severance equal to $800,000 and $663,000, respectively.