Net sales for the 52-week fiscal year ended February 2, 2008 increased 16.9 percent to $619.9 million from net sales of $530.1 million for the prior year 53-week fiscal year ended February 3, 2007.
During fiscal 2007, the Company purchased and retired 642,500 shares of its outstanding common stock at an average price of $33.58 per share.
Of the shares repurchased, 380,100 were purchased pursuant to the 1,500,000 share corporate stock repurchase program authorized by the Board of Directors on October 12, 2005, and amended on March 24, 2006, completing this authorization.
Additionally, 262,400 shares were purchased pursuant to the 500,000 share corporate stock repurchase program authorized by the Board of Directors on November 27, 2007. The Company has 237,600 shares remaining to complete this authorization.