SUBSEQUENT EVENTS

3 Months Ended

Apr. 30, 2011

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

12.SUBSEQUENT EVENTS

Subsequent to April 30, 2011 and through June 1, 2011, the Company repurchased an additional 0.2 million shares for approximately $8.2 million, which brought the total under the 2011 Share Repurchase Program to approximately $16.5 million.

On May 9, 2011, the Company entered into a letter agreement with Eric Bauer that provides for the Company’s employment of Mr. Bauer on an at-will basis as the Company’s Chief Operating Officer.  Mr. Bauer’s responsibilities will include supply chain, planning and allocation, store operations, finance, information technology and store development.

At the Annual Meeting of Stockholders of the Company held on May 20, 2011, the Company’s stockholders elected each of the Company’s three nominees for Class II directors for a three-year term expiring in 2014, ratified the appointment of BDO USA, LLP as the Company’s independent registered public accounting firm for the fiscal year ending January 28, 2012, approved the Company’s 2011 Equity Incentive Plan, approved, on a non-binding basis, the compensation of the Company’s named executive officers as described in the Company’s Proxy Statement for the Annual Meeting (“Say on Pay”), and approved, on a non-binding basis, the Board of Director’s recommendation that Say on Pay votes be held on an annual basis.