Financing Arrangements - Notes to Financial Statements

12 Months Ended

Jan. 29, 2022

Financing Arrangements [Abstract]

Financing Arrangements

8. Financing Arrangements:

 As of January 29, 2022, the Company had an unsecured revolving credit agreement to borrow $

35.0

million less the balance of any revocable credits discussed below. The revolving credit agreement is

committed until May 2022. The Company is in the process of obtaining a new revolving credit agreement

and expects this to be completed by May of 2022. The credit agreement contains various financial

covenants and limitations, including the maintenance of specific financial ratios with which the Company

was in compliance as of January 29, 2022. There were no borrowings outstanding under this credit facility as

of January 29, 2022, January 30, 2021 or February 1, 2020. At January 29, 2022, the weighted average

interest rate under the credit facility was zero due to no borrowings outstanding at the end of the year.

 At January 29, 2022, January 30, 2021 and February 1, 2020, the Company had no outstanding revocable

letters of credit relating to purchase commitments.