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Note 8 - Stockholders' Equity

6 Months Ended

Aug. 01, 2020

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

8. Stockholders’ Equity

The following table sets forth the changes in stockholders’ equity (in thousands) for the thirteen weeks ended August 1, 2020 and August 3, 2019 (in thousands):

		*For the thirteen weeks ended August 1, 2020*																				*For the thirteen weeks ended August 3, 2019*

		*Common*												*Retained*								*Common*												*Retained*
		*stock*				*APIC (1)*				*AOCI (2)*				*earnings/(deficit)*				*Total*				*stock*				*APIC (1)*				*AOCI (2)*				*earnings/(deficit)*				*Total*
Balance, beginning		$	155			$	71,491			$	(11,909	)		$	8,720			$	68,457			$	149			$	69,550			$	(12,123	)		$	30,861			$	88,437
Issuance of restricted/performance stock		$	1			$	(1	)											-			$	3			$	11												14
Stock-based compensation							417												417								734												734
Shares withheld in lieu of tax withholdings																			-																				-
Other							(1	)			(1	)			1				(1	)																			-
Other comprehensive income (loss)											(429	)							(429	)											544								544
Net income (loss)															(13,909	)			(13,909	)															(1,224	)			(1,224	)
Balance, ending		$	156			$	71,906			$	(12,339	)		$	(5,188	)		$	54,535			$	152			$	70,295			$	(11,579	)		$	29,637			$	88,505

(1) - Additional paid-in capital (“APIC”)

(2) - Accumulated other comprehensive income (loss) (“AOCI”)

The following table sets forth the changes in stockholders’ equity (in thousands) for the twenty-six weeks ended August 1, 2020 and August 3, 2019 (in thousands):

		*For the twenty-six weeks ended August 1, 2020*																				*For the twenty-six weeks ended August 3, 2019*

		*Common*												*Retained*								*Common*												*Retained*
		*stock*				*APIC (1)*				*AOCI (2)*				*earnings/(deficit)*				*Total*				*stock*				*APIC (1)*				*AOCI (2)*				*earnings/(deficit)*				*Total*
Balance, beginning		$	152			$	70,633			$	(12,079	)		$	29,925			$	88,631			$	150			$	69,088			$	(12,018	)		$	37,094			$	94,314
Adoption of new accounting standard			-				-				-				-				-				-				-				-				(7,430	)			(7,430	)
Subtotal		$	152			$	70,633			$	(12,079	)		$	29,925			$	88,631			$	150			$	69,088			$	(12,018	)		$	29,664			$	86,884
Issuance of restricted/performance stock			4				495												499				2				(246	)											(244	)
Stock-based compensation							892												892								1,454												1,454
Shares withheld in lieu of tax withholdings			(1	)			(114	)											(115	)																			-
Other			1								(1	)							-								(1	)			(1	)			1				(1	)
Other comprehensive income (loss)											(259	)							(259	)											440								440
Net loss															(35,113	)			(35,113	)															(28	)			(28	)
Balance, ending		$	156			$	71,906			$	(12,339	)		$	(5,188	)		$	54,535			$	152			$	70,295			$	(11,579	)		$	29,637			$	88,505

(1) - Additional paid-in capital (“APIC”)

(2) - Accumulated other comprehensive income (loss) (“AOCI”)

In August 2017, the Company’s Board of Directors authorized a share repurchase program of up to $20.0 million. From the date of such authorization through August 1, 2020, the Company had repurchased approximately 1.3 million shares at an average price of $8.75 per share for an aggregate amount of approximately $11.2 million, leaving approximately $8.8 million authorized under the program as of that date. The Company does not plan to utilize cash to resume share repurchases in fiscal 2020. In addition, the Company's ability to repurchase shares is limited by conditions set forth by its lender in its credit agreement, as described below.