Stock-based compensation (Tables)
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12 Months Ended |
Jan. 31, 2026 |
| Stock-based compensation |
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| Schedule of information related to stock-based compensation |
| | | | | | | | | | | | Fiscal Year Ended | | | January 31, | | February 1, | | February 3, | (In thousands) | | 2026 | | 2025 | | 2024 | Stock options | | $ | 8,089 | | $ | 9,188 | | $ | 7,429 | Restricted stock units | | | 21,481 | | | 19,863 | | | 19,724 | Performance-based restricted stock units | | | 7,856 | | | 13,736 | | | 21,093 | Total stock-based compensation expense | | $ | 37,426 | | $ | 42,787 | | $ | 48,246 | | | | | | | | | | | Cash received from stock option exercises | | $ | 32,562 | | $ | 12,339 | | $ | 12,176 | Income tax benefit | | $ | 63 | | $ | 4,891 | | $ | 7,167 |
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| Schedule of weighted average assumptions to determine grant date fair value of employee stock options |
| | | | | | | | | | | | | | | | | | | | | | Fiscal Year Ended | | | January 31, | | February 1, | | February 3, | | | 2026 | | 2025 | | 2024 | Volatility rate | | | 34.0% | | | 33.0% | | | 45.0% | Average risk-free interest rate | | | 3.9% | | | 4.4% | | | 3.8% | Average expected life (in years) | | | 3.4 | | | 3.5 | | | 3.4 | Dividend yield | | | — | | | — | | | — |
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| Information related to common stock options plan |
The following table presents information related to common stock options: | | | | | | | | | | | | Fiscal Year Ended | | | January 31, | | February 1, | | February 3, | (In thousands, except weighted-average grant date fair value) | | 2026 | | 2025 | | 2024 | Weighted-average grant date fair value | | $ | 377.73 | | $ | 157.66 | | $ | 199.15 | Fair value of options vested | | | 6,612 | | | 7,992 | | | 7,169 | Intrinsic value of options exercised | | | 32,212 | | | 12,673 | | | 15,509 |
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| Summary of stock option activity |
A summary of stock option activity is presented in the following table (shares in thousands): | | | | | | | | | | | | | | | | | | Fiscal 2025 | | Fiscal 2024 | | Fiscal 2023 | | | | | | Weighted- | | | | | Weighted- | | | | | Weighted- | | | Number of | | | average | | Number of | | | average | | Number of | | | average | | | options | | | exercise price | | options | | | exercise price | | options | | | exercise price | Beginning of year | | 299 | | $ | 349.12 | | 307 | | $ | 303.47 | | 324 | | $ | 260.34 | Granted | | 144 | | | 377.73 | | 56 | | | 522.88 | | 42 | | | 541.39 | Exercised | | (133) | | | 245.14 | | (52) | | | 239.61 | | (54) | | | 223.59 | Forfeited/Expired | | (20) | | | 410.76 | | (12) | | | 465.19 | | (5) | | | 382.48 | End of year | | 290 | | $ | 405.98 | | 299 | | $ | 349.12 | | 307 | | $ | 303.47 | Exercisable at end of year | | 97 | | $ | 377.10 | | 188 | | $ | 270.15 | | 154 | | $ | 264.87 | Vested and Expected to vest | | 278 | | $ | 405.27 | | 292 | | $ | 345.55 | | 297 | | $ | 302.05 |
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| Schedule of options outstanding and exercisable based on ranges of exercise prices |
The following table presents information related to stock options outstanding and stock options exercisable at January 31, 2026 based on ranges of exercise prices (shares in thousands): | | | | | | | | | | | | | | | | | Options outstanding | | Options exercisable | | | | | Weighted- | | | | | | | Weighted- | | | | | | | | average | | | | | | | average | | | | | | | | remaining | | | | | | | remaining | | | | | | | | contractual | | | Weighted- | | | | contractual | | | Weighted- | | | Number of | | life | | | average | | Number of | | life | | | average | Range of Exercise Prices | | options | | (years) | | | exercise price | | options | | (years) | | | exercise price | $174.45 – $174.45 | | 6 | | 4 | | $ | 174.45 | | 6 | | 4 | | $ | 174.45 | $174.46 – $281.53 | | 13 | | 1 | | | 266.31 | | 13 | | 1 | | | 266.31 | $281.54 – $306.59 | | 18 | | 2 | | | 306.59 | | 18 | | 2 | | | 306.59 | $306.60 – $348.73 | | 21 | | 4 | | | 347.00 | | 15 | | 1 | | | 348.73 | $348.74 – $395.84 | | 137 | | 8 | | | 372.41 | | 19 | | 3 | | | 395.84 | $395.85 – $545.67 | | 95 | | 6 | | | 521.70 | | 26 | | 5 | | | 533.35 | $174.45 – $545.67 | | 290 | | 6 | | $ | 405.98 | | 97 | | 3 | | $ | 377.10 |
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| Summary of restricted stock units activity |
A summary of RSU activity is presented in the following table (shares in thousands): | | | | | | | | | | | | | | | | | | Fiscal 2025 | | Fiscal 2024 | | Fiscal 2023 | | | | | Weighted- | | | | Weighted- | | | | Weighted- | | | Number of | | average grant | | Number of | | average grant | | Number of | | average grant | | | units | | date fair value | | units | | date fair value | | units | | date fair value | Beginning of year | | 125 | | $ | 472.36 | | 140 | | $ | 408.86 | | 221 | | $ | 264.08 | Granted | | 122 | | | 395.40 | | 54 | | | 497.25 | | 50 | | | 518.45 | Vested | | (46) | | | 401.76 | | (50) | | | 322.03 | | (122) | | | 191.76 | Forfeited | | (24) | | | 432.72 | | (19) | | | 471.41 | | (9) | | | 408.21 | End of year | | 177 | | $ | 443.02 | | 125 | | $ | 472.36 | | 140 | | $ | 408.86 | Expected to vest | | 164 | | $ | 443.02 | | 116 | | $ | 472.36 | | 130 | | $ | 408.86 |
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| Summary of Performance-based restricted stock units activity |
A summary of PBS activity is presented in the following table (shares in thousands): | | | | | | | | | | | | | | | | Fiscal 2025 | | Fiscal 2024 | | Fiscal 2023 | | | | Weighted- | | | | Weighted- | | | | Weighted- | | Number of | | average grant | | Number of | | average grant | | Number of | | average grant | | units | | date fair value | | units | | date fair value | | units | | date fair value | Beginning of year | 93 | | $ | 488.16 | | 106 | | $ | 407.03 | | 76 | | $ | 347.89 | Granted | 3 | | | 507.73 | | 37 | | | 522.88 | | 33 | | | 542.33 | Change in performance award payout | 30 | | | 395.84 | | 34 | | | 306.59 | | — | | | — | Vested | (61) | | | 332.12 | | (74) | | | 306.59 | | — | | | — | Forfeited | (6) | | | 529.61 | | (10) | | | 476.01 | | (3) | | | 403.60 | End of year | 59 | | $ | 530.45 | | 93 | | $ | 488.16 | | 106 | | $ | 407.03 | Expected to vest | 55 | | $ | 530.45 | | 86 | | $ | 488.16 | | 98 | | $ | 407.03 |
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