Activist Shareholder Costs (Notes)

3 Months Ended

May 02, 2015

Activist Shareholder Costs [Abstract]

Other Operating Income and Expense [Text Block]

Activist Shareholder Response Costs

In October of 2013, the Company received a demand from an activist shareholder to call a special meeting of shareholders for the purpose, among other things, of voting on a new slate of directors and amending certain of the Company’s bylaws. The Company retained a team of advisers, including a financial adviser, proxy solicitor, investor relations firm and legal counsel, to assist in responding to the demand and the solicitation of proxies. In conjunction with such activities, the Company recorded charges to income for the three-month period ended May 3, 2014 totaling $1,045,000. In conjunction with such activities, the Company recorded total charges to income in fiscal 2014 of $3,518,000, which includes $750,000 as reimbursement for a portion of the activist shareholder’s expenses in fiscal 2014. In exchange for paying certain activist shareholder expenses, the Company obtained a customary standstill agreement from the activist shareholder.