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Common Stock Repurchase Program
9 Months Ended
Feb. 02, 2020
Text Block [Abstract]  
Common Stock Repurchase Program

22. Common Stock Repurchase Program

On September 5, 2019, we announced that our board of directors approved an authorization for us to acquire up to $5.0 million of our common stock. During the nine-month period ending February 2, 2020, we purchased 55,750 shares of our common stock at a cost of $728,000 pursuant to this authorization, all of which was purchased during the third quarter. As a result, at February 2, 2020, we have $4.3 million available for future repurchases of our common stock associated with the $5.0 million repurchase program approved by our board of directors on September 5, 2019.

On March 4, 2020, we announced that our board of directors approved an authorization to acquire up to $5.0 million of our common stock.

Under the common stock repurchase program, shares may be purchased from time to time in open market transactions, block trades, through plans established under the Securities Exchange Act Rule 10b5-1, or otherwise. The number of shares that can be purchased and the timing of such purchases will be based on working capital requirements, market and general business conditions, and other factors, including alternative investment opportunities.

During the nine-month period ended January 27, 2019, we purchased 160,423 shares of common stock at a cost of $3.3 million. The 160,423 shares were purchased pursuant to a prior authorization approved by our board of directors on June 15, 2016.