Note 8 - Shareholders' Equity

3 Months Ended

May 28, 2023

Notes to Financial Statements

Equity [Text Block]

8. SHAREHOLDERS’ EQUITY

On May 23, 2022, the Company announced that its Board of Directors authorized the Company’s purchase, on the open market and in privately negotiated transactions, of up to 1,500,000 additional shares of its common stock. This authorization superseded any unused prior Board of Directors’ authorizations to purchase shares of the Company’s Common Stock. The Company purchased 129,654 and 0 shares of its common stock during the 13 weeks ended May 28, 2023 and May 29, 2022, respectively. As a result, the Company is authorized to purchase up to a total of 1,279,001 shares of its common stock, representing approximately 6.3% of the Company’s 20,250,211 total outstanding shares as of the close of business on July 3, 2023. There is no assurance the Company will purchase any shares pursuant to this Board of Directors’ authorization. Shares purchased by the Company, if any, will be retained as treasury stock and will be available for use under the Company’s stock option plan and for other corporate purposes.