Note 16 - Shareholders' Equity

12 Months Ended

Feb. 01, 2020

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

16.    SHAREHOLDERS' EQUITY

Stock Repurchase Program

On August 25, 2011,  December 14, 2018 and September 2, 2019, the Board of Directors approved stock repurchase programs (“2011 Program”, "2018 Program" and "2019 Program", respectively) authorizing the repurchase of the Company’s outstanding common stock of up to 2.5 million shares of the 2011 Program and 2018 Program and 5.0 million shares in the 2019 Program.  The Company can use the repurchase programs to repurchase shares on the open market or in private transactions from time to time, depending on market conditions.  The repurchase programs do not have an expiration date.  Repurchases of common stock are limited under the Company’s debt agreements.  In total, 2.5 million shares have been repurchased under the 2011 Program and there are no additional shares authorized to be repurchased.  During 2019, the Company repurchased 1,704,240 shares under the 2018 Program and there are 553,611 shares remaining that are authorized to be repurchased as of  February 1, 2020.  There have been no shares repurchased under the 2019 Program. 

Repurchases Related to Employee Share-based Awards

During 2019, 2018 and 2017, employees tendered 100,728, 145,357 and 141,713 shares, respectively, related to certain share-based awards. These shares were tendered in satisfaction of the exercise price of stock options and/or to satisfy tax withholding amounts for non-qualified stock options, restricted stock and stock performance awards.  Accordingly, these share repurchases are not considered a part of the Company’s publicly announced stock repurchase programs.

Accumulated Other Comprehensive Loss

The following table sets forth the changes in accumulated other comprehensive loss, net of tax, by component for 2019, 2018 and 2017:

($ thousands)	Foreign Currency Translation			Pension and Other Postretirement Transactions (1)			Derivative Transactions (2)			Accumulated Other Comprehensive (Loss) Income
Balance January 28, 2017	$	192		$	(30,084	)	$	(542	)	$	(30,434	)
Other comprehensive income before reclassifications		1,043			18,627			1,337			21,007
Reclassifications:
Amounts reclassified from accumulated other comprehensive loss		—			225			(357	)		(132	)
Tax (benefit) provision		—			(58	)		121			63
Net reclassifications		—			167			(236	)		(69	)
Other comprehensive income		1,043			18,794			1,101			20,938
Reclassification of stranded tax effects		—			(5,882	)		208			(5,674	)
Balance February 3, 2018	$	1,235		$	(17,172	)	$	767		$	(15,170	)
Other comprehensive loss before reclassifications		(1,173	)		(15,927	)		(1,497	)		(18,597	)
Reclassifications:
Amounts reclassified from accumulated other comprehensive loss		—			2,754			154			2,908
Tax benefit		—			(710	)		(32	)		(742	)
Net reclassifications		—			2,044			122			2,166
Other comprehensive income		(1,173	)		(13,883	)		(1,375	)		(16,431	)
Balance February 2, 2019	$	62		$	(31,055	)	$	(608	)	$	(31,601	)
Other comprehensive loss before reclassifications		(642	)		(3,523	)		315			(3,850	)
Reclassifications:
Amounts reclassified from accumulated other comprehensive loss		—			4,590			256			4,846
Tax benefit		—			(1,183	)		(55	)		(1,238	)
Net reclassifications		—			3,407			201			3,608
Other comprehensive loss		(642	)		(116	)		516			(242	)
Balance February 1, 2020	$	(580	)	$	(31,171	)	$	(92	)	$	(31,843	)

⁽¹⁾ Amounts reclassified are included in other income, net. Refer to Note 6 to the consolidated financial statements for additional information related to pension and other postretirement benefits.

⁽²⁾ Amounts reclassified are included in net sales, costs of goods sold and selling and administrative expenses. Refer to Note 14 and Note 15 to the consolidated financial statements for additional information related to derivative financial instruments.