Shareholders' Equity

12 Months Ended

Jan. 30, 2016

Stockholders' Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

Note 7. Shareholders’ Equity

During fiscal 2015, the Company repurchased 298,225 shares of common stock for an aggregate purchase price of $1.1 million. Since the inception of the program, the Company has repurchased 1,872,043 shares of common stock at an average price of $3.82 per share. As of January 30, 2016, the Company has approximately $14.8 million available for purchase under their repurchase program.

The Company classified the repurchased shares as treasury stock on the Company’s consolidated balance sheet.

No cash dividends were paid in fiscal 2015 or 2013. In the first quarter of fiscal 2014, the Company declared and paid a special cash dividend of $0.50 per common share. The Company’s Credit Facility contains certain restrictions related to the payment of cash dividends, including limiting the amount of dividends to $5.0 million annually. On March 5, 2014, Wells Fargo Bank, National Association (the “Administrative Agent”) and certain other parties to the amended credit facility agreed to consent to the special cash dividend.