Basis of Presentation (Tables)

3 Months Ended

May 04, 2024

Accounting Policies [Abstract]

Other Comprehensive Income (Loss) and Reclassifications from AOCI

For the first three months of fiscal 2023, other comprehensive income and reclassifications from AOCI was as follows:

	April 29, 2023
For the three months ended:	(in thousands)
	Retirement Plans
Balance at beginning of the quarter	$	(4,928	)
Other comprehensive income before    reclassifications, net of taxes		6
Amounts reclassified from accumulated other    comprehensive income, net of taxes (1)		43
Other comprehensive income for the period		49
Balance at end of quarter	$	(4,879	)

(1)Includes the amortization of the unrecognized loss on retirement 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 $58,000, or $43,000 net of taxes, for the three months ended April 29, 2023.

Valuation Assumptions for Stock Options

For the first three months of fiscal 2023, the fair value of each stock option grant was 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.

	April 29, 2023
Expected volatility	86.3% - 92.1%
Risk-free interest rate	3.71%-4.42%
Expected term	2.5 yrs.
Dividend rate		—
Weighted average fair value of options granted	$	3.24