Stockholders Equity

12 Months Ended

Feb. 01, 2014

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

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 fiscal 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.

During fiscal 2013, employees of the Company tendered 114,253 shares of the Company’s Class A common stock upon restricted stock vesting to satisfy employee withholding tax obligations for a total cost of approximately $0.4 million.

During fiscal 2012, employees of the Company tendered 208,548 shares of the Company’s Class A common stock upon restricted stock vesting to satisfy employee withholding tax obligations for a total cost of approximately $0.6 million.

During fiscal 2011, the Company repurchased 12,093,482 shares of its Class A common stock at an average market price of $4.43 per share, for a total cost, including commissions, of approximately $53.7 million, bringing the total repurchased under this program to 12,975,782 shares of its Class A common stock at a total cost of $56.7 million, completing the stock repurchase program in fiscal 2011.

During August 2011, August 2012 and August 2013, the Company retired 24,242,219, 1,245,680, and 6,517,370, respectively, 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 common stock.

As of February 1, 2014, 24,725 repurchased shares, at a cost of less than $0.1 million, as well as 10,500 shares reacquired by the Company, at no cost, upon employee and director forfeitures of stock-based compensation, were not yet retired and remained in treasury stock within the Company's consolidated balance sheet.