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Stock Repurchase Program | 6 Months Ended
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Jul. 30, 2022
Stock Repurchase Program [Abstract] |
Stock Repurchase Program | 8. Stock Repurchase Program On March 15, 2022, the Company’s Board of Directors approved a stock repurchase program. Under the stock repurchase program, the Company may repurchase up to $15.0 million of its common stock through open market and privately negotiated transactions. The timing and the amount of any repurchases of common stock will be determined based on the Company’s evaluation of market conditions and other factors. The stock repurchase program commenced in the first quarter of fiscal 2022 and will expire on March 15, 2023, but may be suspended, terminated or modified at any time for any reason. The Company expects to finance the repurchases from operating funds and/or periodic borrowings on its credit facility. For the first six months of fiscal 2022, the Company repurchased 2.9 million shares at an aggregate cost of $12.7 million, including fees, from available cash on hand. Shares of repurchased common stock are held as treasury stock.

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