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LEGAL MATTERS
3 Months Ended
May 03, 2014
LEGAL MATTERS  
LEGAL MATTERS

NOTE 13LEGAL MATTERS

 

The Company is party to various actions and claims arising in the normal course of business. The Company believes that amounts accrued for awards or assessments in connection with all such matters, which accrual was increased by an aggregate of approximately $4.0 million during the first quarter of fiscal 2014, are adequate and that the ultimate resolution of these matters will not have a material adverse effect on the Company’s financial position. However, there exists a reasonable possibility of loss in excess of the amounts accrued, the amount of which cannot currently be estimated. While the Company does not believe that the amount of such excess loss could be material to the Company’s financial position, any such loss could have a material adverse effect on the Company’s results of operations in the period(s) during which the underlying matters are resolved.