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Debt
3 Months Ended
Jul. 30, 2016
Debt Disclosure [Abstract]  
Debt
4. Debt

At July 30, 2016, we had two unsecured credit facilities, which are renewable annually in August and November.  The August facility allows for borrowings up to $30.0 million at a rate equal to the higher of prime rate, the federal funds rate plus 0.5% or LIBOR.  The November facility allows for borrowings up to $50.0 million at a rate of prime plus 2%.  Under the provisions of both facilities, we do not pay commitment fees and are not subject to covenant requirements.  There was one day during the thirteen weeks ended July 30, 2016, where we incurred borrowings against our credit facilities for an average and maximum borrowing of $1.4 million and an average interest rate of 2.47%.  There were six days during the twenty-six weeks ended July 30, 2016, where we incurred borrowings against our credit facilities for an average and maximum borrowing of $9.3 million and $11.8 million, respectively, and an average interest rate of 2.43%.  We had no debt outstanding under either of these facilities as of July 30, 2016.  At July 30, 2016, a total of $80.0 million was available to us from these facilities.

At January 30, 2016, we had the same two unsecured facilities and corresponding terms as listed above.  There were 36 days during the fifty-two weeks ended January 30, 2016, where we incurred borrowings against our credit facilities for an average and maximum borrowing of $12.9 million and $28.4 million, respectively, and an average interest rate of 2.22%.

Subsequent to July 30, 2016, we renewed our existing August facility of $30.0 million with an interest rate at one month LIBOR plus 2.0%.  The renewal was effective August 19, 2016 and will expire on August 31, 2017.  The facility is unsecured and does not require a commitment or agency fee nor are there any covenant restrictions.