NOTE 12 - EARNINGS PER SHARE

12 Months Ended

Feb. 01, 2015

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

NOTE 12 – EARNINGS PER SHARE

We refer you to the Earnings Per Share disclosure in Note 1-Summary of Significant Accounting Policies, above, for more detailed information concerning the calculation of earnings per share.

We have issued restricted stock awards to non-employee directors since 2006 and certain management employees since 2014 and have issued restricted stock units (RSUs) to certain senior executives since fiscal 2012, under the Company’s Stock Incentive Plan. We expect to continue to grant these types of awards annually in the future. The following table sets forth the number of outstanding restricted stock awards and RSUs, net of forfeitures and vested shares, as of the fiscal year-end dates indicated:

	February 1,		February 2,		February 3,
	2015		2014		2013
Restricted shares		27,458		28,614		29,063
Restricted stock units		24,546		32,353		32,353
		52,004		60,967		61,416

All restricted shares awarded that have not yet vested are considered when computing diluted earnings per share.  Unlike the restricted stock grants issued to our non-employee directors, the transfer of ownership of common shares issued under our RSUs, if any,  occurs after the three-year vesting period; however, RSUs are also considered when computing diluted earnings per share.

The following table sets forth the computation of basic and diluted earnings per share:

	Fifty-Two		Fifty-Two		Fifty-Three
	Weeks Ended		Weeks Ended		Weeks Ended
	February 1,		February 2,		February 3,
	2015		2014		2013
Net income	$	12,578	$	7,929	$	8,626
Less: Dividends on unvested restricted shares		11		12		11
Net earnings allocated to unvested restricted stock		33		22		23
Earnings available for common shareholders	$	12,534	$	7,895	$	8,592
Weighted average shares outstanding for basic earnings per share		10,736		10,722		10,745
Dilutive effect of unvested restricted stock awards		35		30		30
Weighted average shares outstanding for diluted earnings per share		10,771		10,752		10,775
Basic earnings per share	$	1.17	$	0.74	$	0.80
Diluted earnings per share	$	1.16	$	0.74	$	0.80