Stock Repurchase Program

The Company maintains a stock repurchase program that was initially approved by its Board of Directors in March 2008. The stock repurchase program does not have an expiration date and the Company’s Board of Directors has authorized expansion of the program over the years. The following table summarizes activity under the repurchase program for the three and nine month periods listed below:



	Three Months Ended						Nine Months Ended
	October 30, 2016			October 25, 2015			October 30, 2016			October 25, 2015
(in thousands, except number of shares)	Shares	Value		Shares	Value		Shares	Value		Shares	Value
Repurchase Program expenditures	—	$	—	491,316	$	7,464	23,968	$	538	2,681,476	$	57,311

As of October 30, 2016, the Company had repurchased $136.2 million in shares of its common stock under the program since inception and the current remaining authorization under the program is $62.2 million. Under the program, the Company may repurchase its common stock at any time or from time to time, without prior notice, subject to market conditions and other considerations. The Company’s repurchases may be made through Rule 10b5-1 or other trading plans, open market purchases, privately negotiated transactions, block purchases or other transactions. The Company intends to fund repurchases under the program from cash on hand. The Company has no obligation to repurchase any shares under the program and may suspend or discontinue it at any time.