Quarterly report pursuant to Section 13 or 15(d)

SHAREHOLDERS' EQUITY

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SHAREHOLDERS' EQUITY
 3 Months Ended
Jul. 28, 2012
SHAREHOLDERS' EQUITY [Abstract]  
SHAREHOLDERS' EQUITY
8. SHAREHOLDERS’ EQUITY

The Company repurchased approximately 1.6 million and 1.7 million shares of common stock on the open market for approximately $80.9 million and $85.5 million during the 13 and 26 weeks ended July 28, 2012.  Approximately $8.9 million in share repurchases had not settled as of July 28, 2012 and this amount has been accrued in the accompanying condensed consolidated balance sheet as of July 28, 2012.  As of July 28, 2012, the Company has $1.1 billion remaining under the Board authorization.
 
During the fourth quarter of 2011, the Company entered into an agreement to repurchase $300.0 million of the Company’s common shares under a “collared” ASR.  Under this agreement, during 2011, the Company paid $300.0 million and received 6.8 million shares.  The ASR concluded on March 28, 2012 and the Company received an additional 0.5 million shares resulting in 7.3 million total shares being repurchased under this ASR.