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Subsequent Events
12 Months Ended
Feb. 03, 2024
Subsequent Events [Abstract]  
Subsequent Events

Note 16 – Subsequent Events

Dividends

On March 13, 2024, the Board of Directors approved the payment of a cash dividend to our shareholders in the first quarter of Fiscal 2024. The quarterly cash dividend of $0.135 per share will be paid on April 22, 2024 to shareholders of record as of the close of business on April 8, 2024.

The declaration and payment of any future dividends are at the discretion of the Board of Directors and will depend on our results of operations, financial condition, business conditions and other factors deemed relevant by our Board of Directors. See Note 9 – "Debt" for a discussion of our Credit Agreement and its restrictions regarding dividend payments and acquisitions.

Rogan's Acquisition

On February 13, 2024, we acquired Rogan Shoes, Incorporated (“Rogan’s”), a privately-held, family-owned shoe retailer. Rogan’s was acquired for an initial purchase price of $45 million. This initial consideration, funded entirely from cash on hand, is subject to customary adjustments, and additional consideration of up to $5 million may be paid by the Company subject to the achievement of three-year performance targets. With this acquisition, we will own and operate Rogan’s 28 store locations, which are located in Wisconsin, Minnesota, and Illinois.