Basis of Presentation (Tables)

6 Months Ended

Jul. 29, 2023

Accounting Policies [Abstract]

Other Comprehensive Income (Loss) and Reclassifications from AOCI

Other comprehensive income (loss) includes amounts related to foreign currency and pension plans and is reported in the Consolidated Statements of Comprehensive Income (Loss). Other comprehensive income (loss) and reclassifications from AOCI for the three and six months ended July 29, 2023 and July 30, 2022 were as follows:

	July 29, 2023								July 30, 2022
For the three months ended:	(in thousands)
	Pension Plans			Foreign Currency		Total			Pension Plans			Foreign Currency			Total
Balance at beginning of the quarter	$	(4,879	)	$	—	$	(4,879	)	$	(5,399	)	$	(63	)	$	(5,462	)
Other comprehensive income (loss) before    reclassifications, net of taxes		23			—		23			76			(3	)		73
Recognition of loss on pension termination, net of taxes (1)		3,080			—		3,080			—			—			—
Amounts reclassified from accumulated other    comprehensive income, net of taxes (2)		25			—		25			(8	)		—			(8	)
Other comprehensive income (loss) for the period		3,128			—		3,128			68			(3	)		65
Balance at end of quarter	$	(1,751	)	$	—	$	(1,751	)	$	(5,331	)	$	(66	)	$	(5,397	)

	July 29, 2023								July 30, 2022
For the six months ended:	(in thousands)
	Pension Plans			Foreign  Currency		Total			Pension Plans			Foreign Currency			Total
Balance at beginning of fiscal year	$	(4,928	)	$	—	$	(4,928	)	$	(5,466	)	$	(59	)	$	(5,525	)
Other comprehensive income (loss) before    reclassifications, net of taxes		29			—		29			155			(7	)		148
Recognition of loss on pension termination, net of taxes (1)		3,080					3,080			—			—			—
Amounts reclassified from accumulated other    comprehensive income, net of taxes (2)		68			—		68			(20	)		—			(20	)
Other comprehensive income (loss) for the period		3,177			—		3,177			135			(7	)		128
Balance at end of quarter	$	(1,751	)	$	—	$	(1,751	)	$	(5,331	)	$	(66	)	$	(5,397	)

(1)In connection with the Company's decision to terminate its pension plan, during the second quarter of fiscal 2023 the Company completed a partial settlement and accordingly recognized a pro-rated portion of AOCI in the amount of $4.2 million, or $3.1 million net of taxes.

(2)Includes the amortization of the unrecognized loss on pension plans, which was charged to “Selling, General and Administrative” Expense on the Consolidated Statements of Operations for all periods presented. The Company recognized expense of $34,000, or $25,000 net of taxes, for the three months ended July 29, 2023 and expense of $92,000, or $68,000 net of taxes, for the six months ended July 29, 2023. For the three and six months ended July 30, 2022, the Company recognized income of $8,000 and $20,000, respectively, as a result of a change in amortization from average remaining future service to average remaining lifetime. There was no related tax effect for the three and six months ended July 30, 2022.

Valuation Assumptions for Stock Options

The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option-pricing model based on the assumptions in the table below as it relates to stock options granted during the first six months of fiscal 2023 and fiscal 2022.

	July 29, 2023		July 30, 2022
Expected volatility	86.3% - 92.1%		109.0% - 123.7%
Risk-free interest rate	3.71%-4.42%		2.52% - 2.87%
Expected term	2.5 yrs.		2.5 - 3.5 yrs.
Dividend rate		—		—
Weighted average fair value of options granted	$	3.24	$	4.98