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Shareholders' Equity
 9 Months Ended
Oct. 03, 2023
Equity [Abstract]  
Shareholders' Equity

9. SHAREHOLDERS’ EQUITY

Stock Repurchases

During the thirty-nine weeks ended October 3, 2023, we repurchased and retired approximately 164,000 shares of our common stock at an average price of $26.17 per share for a total of $4.3 million, which is recorded as a reduction in common stock, with any excess charged to retained earnings. As of October 3, 2023, we have approximately $17.8 million remaining under the current $500 million share repurchase plan approved by our Board of Directors. Repurchases may be made at any time.

Cash Dividends

Due to the COVID-19 pandemic, we suspended quarterly cash dividends until such time as the Board of Directors determines that resumption of dividend payments is in the best interest of the Company and its shareholders. The only cash dividends paid during the thirty-nine weeks ended October 3, 2023, were related to dividends (declared prior to fiscal 2020) on restricted stock grants, which vested under our stock compensation plans.