Quarterly report pursuant to Section 13 or 15(d)

Share Repurchases

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Share Repurchases
9 Months Ended
Nov. 02, 2019
Share Repurchases  
Share Repurchases

12. Share Repurchases

In March 2013, our Board of Directors (the “Board”) approved a share repurchase program for our common stock.  During the third quarter of 2019, we repurchased 2,336,852 shares through open market repurchases at a cost of $10.0 million for an average price of $4.28 per share.  At November 2, 2019, the remaining balance available under the Board’s authorization was $38.0 million.  No shares were repurchased during 2018.

Share repurchases are accounted for under the cost method whereby the entire cost of the acquired stock is recorded as treasury stock.