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Treasury Stock
9 Months Ended
Nov. 02, 2013
Equity [Abstract]  
Treasury Stock
Treasury Stock
On February 1, 2013, the Company's Board of Directors authorized a program to repurchase up to $25.0 million of the outstanding shares of its Class A common stock, to be executed through open market or privately negotiated transactions. The timing and number of shares repurchased was to be determined by the Company’s management based on its evaluation of market conditions and other factors.
During the 39 weeks ended November 2, 2013, the Company repurchased 5,565,873 shares of its Class A common stock at a weighted average market price of $4.48 per share, for a total cost, including commissions, of $25.0 million, representing full execution of the stock repurchase program. Additionally, the Company tendered 90,703 shares of its Class A common stock upon restricted stock vesting to satisfy employee withholding tax obligations for a total cost of $0.3 million, as well as 56,201 shares reacquired by the Company, at no cost, upon employee forfeitures of stock-based compensation.
Effective August 22, 2013, the Company retired 6,517,370 shares of its Class A common stock held in treasury. In accordance with Delaware law and the terms of the Company’s certificate of incorporation, upon retirement, such treasury shares resumed the status of authorized and unissued shares of Company Class A common stock.