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Share Repurchase Plan
12 Months Ended
Feb. 01, 2020
Equity [Abstract]  
Share Repurchase Plan

Note 12 – Share Repurchase Plan

On December 12, 2019, our Board of Directors authorized a new share repurchase program for up to $50 million of outstanding common stock, effective January 1, 2020. The purchases may be made in the open market or through privately negotiated transactions from time-to-time through December 31, 2020 and in accordance with applicable laws, rules and regulations. The share repurchase program may be amended, suspended or discontinued at any time and does not commit us to repurchase shares of our common stock. We have funded, and intend to continue to fund, the share repurchase program from cash on hand, and any shares acquired will be available for stock-based compensation awards and other corporate purposes.  The actual number and value of the shares to be purchased will depend on the performance of our stock price and other market conditions.  As of February 1, 2020, we had purchased approximately 184,000 shares at an aggregate cost of $6.9 million under the new share repurchase program, and we had $43.1 million available for future repurchases.    

The new share repurchase program replaced a $50 million share repurchase program that was authorized in December 2018 and expired in accordance with its terms on December 31, 2019. At its expiration, we had purchased approximately 933,000 shares at an aggregate cost of $30.9 million under that repurchase program.   Other Board-approved share repurchase programs existed in fiscal 2018 and fiscal 2017.  Share repurchases and amounts paid in those fiscal years were approximately 1,529,000 shares at an aggregate cost of $46.0 million in fiscal 2018 and approximately 1,259,000 shares at an aggregate cost of $29.8 million in fiscal 2017.