Employee benefit plans |
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| Retirement Benefits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Employee benefit plans | Employee benefit plans The Company operates a defined contribution 401(k) retirement savings plan for all eligible US employees who meet minimum age and service requirements. The assets of this plan are held in a separate trust and the Company matches 50% of up to 6% of employee elective salary deferrals, subject to statutory limitations. The Company’s contributions to this plan in Fiscal 2026 were $12.7 million (Fiscal 2025: $12.9 million; Fiscal 2024: $13.6 million). The Company offers a defined contribution plan for UK employees. The Company’s contributions to this plan in Fiscal 2026 were $2.4 million (Fiscal 2025: $2.1 million; Fiscal 2024: $2.4 million). The Company has established two unfunded, non-qualified deferred compensation plans (“DCP”), one of which permits certain management and highly compensated employees to elect annually to defer all or a portion of their compensation and are credited earnings or losses on the deferred amounts under the terms of the plan and the other of which is frozen as to new participants and new deferrals. The DCP provides for a matching contribution based on each participant’s annual compensation deferral and permits employer contributions on a discretionary basis. Costs recognized in connection with the DCP are recorded in SG&A and were $5.4 million in Fiscal 2026 (Fiscal 2025: $7.3 million; Fiscal 2024: $5.4 million). Although it is not required, the Company has elected to partially fund the DCP by investing in trust-owned life insurance policies and mutual funds. The value and classification of the mutual funds as of January 31, 2026 and February 1, 2025 are as follows:
The Company also has company-owned life insurance policies held for purposes of funding the DCP totaling $4.3 million and $4.4 million as of January 31, 2026 and February 1, 2025, respectively. The total liability recorded by the Company for the DCP was $40.1 million and $42.1 million as of January 31, 2026 and February 1, 2025, respectively.
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