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Note 8 - Stockholders' Equity | 9 Months Ended
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Oct. 28, 2023
Notes to Financial Statements |
Equity [Text Block] | 8. Stockholders’ Equity The following table sets forth the changes in stockholders’ equity (in thousands) for the thirteen weeks ended October 28, 2023 and October 29, 2022 (in thousands):
|  | For the thirteen weeks ended October 28, 2023 |  |  | For the thirteen weeks ended October 29, 2022 |
|  | Common |  |  |  |  |  |  |  |  |  |  | Retained |  |  |  |  |  |  | Common |  |  |  |  |  |  |  |  |  |  | Retained |  |  |  |  |
|  | stock |  |  | APIC (1) |  |  | AOCI (2) |  |  | earnings |  |  | Total |  |  | stock |  |  | APIC (1) |  |  | AOCI (2) |  |  | earnings |  |  | Total |
Balance, beginning |  | $ | 145 |  |  | $ | 66,773 |  |  | $ | (12,017 | ) |  | $ | 52,965 |  |  | $ | 107,866 |  |  | $ | 150 |  |  | $ | 69,409 |  |  | $ | (12,385 | ) |  | $ | 36,690 |  |  | $ | 93,864 |
Issuance of Restricted Stock |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Shares issued under employee stock plans |  |  |  |  |  |  | 175 |  |  |  |  |  |  |  |  |  |  |  | 175 |  |  |  |  |  |  |  | 194 |  |  |  |  |  |  |  |  |  |  |  | 194 |
Stock-based compensation |  |  |  |  |  |  | 363 |  |  |  |  |  |  |  |  |  |  |  | 363 |  |  |  |  |  |  |  | 368 |  |  |  |  |  |  |  |  |  |  |  | 368 |
Shares withheld in lieu of tax withholdings |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |
Share Repurchase |  |  | (1 | ) |  |  | (670 | ) |  |  |  |  |  |  | (3,369 | ) |  |  | (4,040 | ) |  |  | (3 | ) |  |  | (1,553 | ) |  |  |  |  |  |  | (3,233 | ) |  |  | (4,789 | )
Cash Dividends |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |  |  |  |  |  |  |  | 4 |  |  |  |  |  |  |  | (47 | ) |  |  | (43 | )
Other comprehensive (loss) income |  |  |  |  |  |  |  |  |  |  | (302 | ) |  |  |  |  |  |  | (302 | ) |  |  |  |  |  |  |  |  |  |  | 49 |  |  |  |  |  |  |  | 49 |
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,586 |  |  |  | 7,586 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,455 |  |  |  | 7,455 |
Balance, ending |  | $ | 144 |  |  | $ | 66,641 |  |  | $ | (12,319 | ) |  | $ | 57,182 |  |  | $ | 111,648 |  |  | $ | 147 |  |  | $ | 68,422 |  |  | $ | (12,336 | ) |  | $ | 40,865 |  |  | $ | 97,098 |
(1) Additional paid-in capital (“APIC”) (2) Accumulated other comprehensive loss (“AOCI”) The following table sets forth the changes in stockholders’ equity (in thousands) for the thirty-nine weeks ended October 28, 2023 and October 29, 2022 (in thousands):
|  | For the thirty-nine weeks ended October 28, 2023 |  |  | For the thirty-nine weeks ended October 29, 2022 |
|  | Common |  |  |  |  |  |  |  |  |  |  | Retained |  |  |  |  |  |  | Common |  |  |  |  |  |  |  |  |  |  | Retained |  |  |  |  |
|  | stock |  |  | APIC (1) |  |  | AOCI (2) |  |  | earnings |  |  | Total |  |  | stock |  |  | APIC (1) |  |  | AOCI (2) |  |  | earnings |  |  | Total |
Balance, beginning |  | $ | 148 |  |  | $ | 69,868 |  |  | $ | (12,274 | ) |  | $ | 61,375 |  |  | $ | 119,117 |  |  | $ | 162 |  |  | $ | 75,490 |  |  | $ | (12,470 | ) |  | $ | 30,501 |  |  | $ | 93,683 |
Adoption of new accounting standard |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (785 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Subtotal |  | $ | 148 |  |  | $ | 69,868 |  |  | $ | (12,274 | ) |  | $ | 60,590 |  |  | $ | 118,332 |  |  | $ | 162 |  |  | $ | 75,490 |  |  | $ | (12,470 | ) |  | $ | 30,501 |  |  | $ | 93,683 |
Issuance of Restricted Stock |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Shares issued under employee stock plans |  |  | 4 |  |  |  | 2,436 |  |  |  |  |  |  |  |  |  |  |  | 2,440 |  |  |  | 2 |  |  |  | 1,004 |  |  |  |  |  |  |  |  |  |  |  | 1,006 |
Stock-based compensation |  |  |  |  |  |  | 1,121 |  |  |  |  |  |  |  |  |  |  |  | 1,121 |  |  |  |  |  |  |  | 1,175 |  |  |  |  |  |  |  |  |  |  |  | 1,175 |
Shares withheld in lieu of tax withholdings |  |  | (2 | ) |  |  | (3,638 | ) |  |  |  |  |  |  |  |  |  |  | (3,640 | ) |  |  | (1 | ) |  |  | (2,178 | ) |  |  |  |  |  |  |  |  |  |  | (2,179 | )
Share Repurchase |  |  | (6 | ) |  |  | (3,146 | ) |  |  |  |  |  |  | (12,087 | ) |  |  | (15,239 | ) |  |  | (16 | ) |  |  | (7,073 | ) |  |  |  |  |  |  | (17,083 | ) |  |  | (24,172 | )
Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 196 |  |  |  | 196 |  |  |  |  |  |  |  | 4 |  |  |  |  |  |  |  | (28 | ) |  |  | (24 | )
Dividend |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (22,049 | ) |  |  | (22,049 | ) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | - |
Other comprehensive (loss) income |  |  |  |  |  |  |  |  |  |  | (45 | ) |  |  |  |  |  |  | (45 | ) |  |  |  |  |  |  |  |  |  |  | 134 |  |  |  |  |  |  |  | 134 |
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 30,532 |  |  |  | 30,532 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 27,475 |  |  |  | 27,475 |
Balance, ending |  | $ | 144 |  |  | $ | 66,641 |  |  | $ | (12,319 | ) |  | $ | 57,182 |  |  | $ | 111,648 |  |  | $ | 147 |  |  | $ | 68,422 |  |  | $ | (12,336 | ) |  | $ | 40,865 |  |  | $ | 97,098 |
(1) Additional paid-in capital (“APIC”) (2) Accumulated other comprehensive loss (“AOCI”) For the thirty-nine weeks ended October 28, 2023, the Company recorded credit impairment charges of $0.8 million on trade receivables into retained earnings as a result of the adoption of ASC 326 - Credit Impairment. During the thirteen and thirty-nine weeks ended October 28, 2023, the Company utilized $4.0 million in cash to repurchase 146,028 shares and utilized $15.2 million in cash to repurchase 672,734 shares, respectively, under its $50.0 million program that was authorized by its Board of Directors on August 31, 2022. The Company's Board of Directors also authorized a special cash dividend of $1.50 per share that was paid on April 6, 2023, to all stockholders of record as of March 23, 2023.

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