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Financing Arrangements
 3 Months Ended
May 03, 2025
Financing Arrangements [Abstract]  
Financing Arrangements
 
NOTE 4 – FINANCING ARRANGEMENTS:
On March 13, 2025, the Company,
 
as borrower, and certain other
 
domestic subsidiaries, as borrowers and
guarantors, entered
 
into a
 
Credit Agreement
 
(the “ABL
 
Credit Agreement”)
 
and related
 
loan documents,
by
 
and
 
among
 
the
 
Company,
 
certain
 
other
 
of
 
the
 
Company’s
 
domestic
 
subsidiaries,
 
and
 
Wells
 
Fargo
Bank,
 
National
 
Association,
 
as
 
the
 
lender
 
(the
 
“Lender”),
 
to
 
establish
 
an
 
asset-based
 
revolving
 
credit
facility (the “ABL
 
Facility”) in an
 
amount up to
 
$
35.0
 
million. The proceeds from
 
the ABL Facility
 
may
be used to provide funding for ongoing working capital and general corporate
 
purposes.
The ABL
 
Credit Agreement
 
is committed
 
through
May 2027
 
and is
 
secured primarily
 
by inventory
 
and
third-party credit
 
card receivables.
 
There
 
were
no
 
borrowings outstanding
 
and the
 
availability under
 
the
facility was
 
$
30.0
 
million before
 
giving effect
 
to a
 
$
3.0
 
million outstanding
 
letter of
 
credit that
 
reduced
borrowing availability to
 
$
27.0
 
million as
 
of May 3,
 
2025.
 
The weighted
 
average interest rate
 
under the
credit facility was
zero
 
at May 3, 2025 due to
no
 
outstanding borrowings.