STOCK-BASED COMPENSATION (Tables)
|
12 Months Ended |
Jan. 31, 2026 |
| STOCK-BASED COMPENSATION |
|
| Summary of Stock Option Activity |
| | | | | | | | | | WEIGHTED-AVERAGE | | | OPTIONS | | EXERCISE PRICE | Outstanding—February 1, 2025 | | 3,652,114 | | $ | 212.65 | Granted | | 369,750 | | | 178.08 | Exercised | | (82,896) | | | 62.12 | Cancelled | | (200,495) | | | 249.76 | Outstanding—January 31, 2026 | | 3,738,473 | | $ | 210.58 |
|
| Schedule of Assumptions Used to Estimate Fair Value of Stock Options Issued |
| | | | | | | | | | YEAR ENDED | | | | JANUARY 31, | | FEBRUARY 1, | | FEBRUARY 3, | | | | 2026 | | 2025 | | 2024 | | Expected volatility | | 70.7 | % | 56.8 | % | 54.3 | % | Expected life (years) | | 6.9 | | 7.2 | | 7.3 | | Risk-free interest rate | | 4.3 | % | 4.5 | % | 3.9 | % | Dividend yield | | — | | — | | — | |
|
| Summary of Additional Information about Stock Options |
| | | | | | | | | | | | YEAR ENDED | | | JANUARY 31, | | FEBRUARY 1, | | FEBRUARY 3, | | | 2026 | | 2025 | | 2024 | | | | (in thousands, except per share amounts) | Weighted-average fair value per share of stock options granted | | $ | 123.25 | | $ | 172.87 | | $ | 160.57 | Aggregate intrinsic value of stock options exercised | | | 12,735 | | | 90,058 | | | 34,556 | Fair value of stock options vested | | | 34,155 | | | 27,063 | | | 19,113 |
|
| Stock options outstanding, vested or expected to vest, and exercisable |
| | | | | | | | | | | | | | | OPTIONS OUTSTANDING | | OPTIONS EXERCISABLE | | | | | WEIGHTED- | | | | | | | | | | | | | AVERAGE | | WEIGHTED- | | | | WEIGHTED- | | | | | REMAINING | | AVERAGE | | | | AVERAGE | | | NUMBER OF | | CONTRACTUAL LIFE | | EXERCISE | | NUMBER OF | | EXERCISE | RANGE OF EXERCISE PRICES | | OPTIONS | | (in years) | | PRICE | | OPTIONS | | PRICE | $25.39 — $44.52 | | 87,943 | | 0.3 | | $ | 35.34 | | 87,943 | | $ | 35.34 | $50.00 — $50.00 | | 1,000,000 | | 1.3 | | | 50.00 | | 1,000,000 | | | 50.00 | $90.50 — $154.82 | | 546,215 | | 3.5 | | | 134.34 | | 380,975 | | | 130.14 | $157.77 — $264.27 | | 632,040 | | 8.0 | | | 212.33 | | 96,136 | | | 230.95 | $265.83 — $331.54 | | 624,075 | | 7.2 | | | 286.20 | | 154,821 | | | 305.96 | $339.50 — $352.66 | | 29,000 | | 7.4 | | | 346.39 | | 6,900 | | | 348.34 | $385.30 — $713.52 | | 819,200 | | 4.9 | | | 412.48 | | 745,303 | | | 398.95 | Total | | 3,738,473 | | | | $ | 210.58 | | 2,472,078 | | $ | 190.93 | Vested or expected to vest | | 3,496,800 | | | | $ | 207.60 | | | | | |
|
| Schedule of options outstanding, vested or expected to vest, and exercisable |
| | | | | | | | | | | | | | | | | WEIGHTED- | | WEIGHTED- | | AGGREGATE | | | | | AVERAGE | | AVERAGE | | INTRINSIC | | | | | EXERCISE | | REMAINING TERM | | VALUE | | | | SHARES | | PRICE | | (in years) | | (in thousands) | Options outstanding | | | 3,738,473 | | $ | 210.58 | | | 4.5 | | $ | 208,324 | Options vested or expected to vest | | | 3,496,800 | | | 207.60 | | | 4.3 | | | 205,991 | Options exercisable | | | 2,472,078 | | | 190.93 | | | 3.0 | | | 190,232 |
|
| Schedule of stock-based compensation expense |
| | | | | | | | | | | | YEAR ENDED | | | JANUARY 31, | | FEBRUARY 1, | | FEBRUARY 3, | | | 2026 | | 2025 | | 2024 | | | | (in thousands) | Stock-based compensation expense(1) | | $ | 38,263 | | $ | 40,516 | | $ | 36,509 |
| (1) | On October 18, 2020, our Board of Directors granted our Chairman and Chief Executive Officer, Gary Friedman, an option to purchase 700,000 shares of our common stock with an exercise price equal to $385.30 per share under the Stock Incentive Plan. The option resulted in aggregate non-cash stock compensation expense of $174 million, of which, $0.9 million, $4.5 million and $9.6 million was recognized in fiscal 2025, fiscal 2024 and fiscal 2023, respectively, related to Mr. Friedman’s option. Compensation expense for this award was fully recognized as of fiscal 2025. |
|
| Schedule of total unrecognized compensation expense and weighted average remaining term |
| | | | | | | | | UNRECOGNIZED | | WEIGHTED- | | | STOCK BASED | | AVERAGE | | | COMPENSATION | | REMAINING TERM | | | (in thousands) | | (in years) | Unvested options | | $ | 119,524 | | | 4.4 | Unvested restricted stock and restricted stock units | | | 6,026 | | | 1.7 | Total | | $ | 125,550 | | | |
|
| Summary of Restricted Stock Award Activity |
| | | | | | | | | | | | | WEIGHTED- | | | | | | | | AVERAGE | | INTRINSIC | | | | | GRANT DATE FAIR | | VALUE | | | AWARDS | | VALUE | | (in thousands) | Outstanding—February 1, 2025 | | 11,220 | | $ | 433.56 | | | | Granted | | 24,690 | | | 183.38 | | | | Released | | (14,110) | | | 262.85 | | | | Cancelled | | (1,200) | | | 401.25 | | | | Outstanding—January 31, 2026 | | 20,600 | | $ | 252.51 | | $ | 4,096 |
|
| Summary of Additional Information about Restricted Stock Awards |
| | | | | | | | | | | | YEAR ENDED | | | JANUARY 31, | | FEBRUARY 1, | | FEBRUARY 3, | | | 2026 | | 2025 | | 2024 | Weighted-average fair value per share of awards granted | | $ | 183.38 | | $ | 301.31 | | $ | 322.24 | Grant date fair value of awards released (in thousands) | | | 3,709 | | | 6,630 | | | 2,846 |
|
| Summary of stock-based compensation expense related to restricted stock awards |
| | | | | | | | | | | | YEAR ENDED | | | JANUARY 31, | | FEBRUARY 1, | | FEBRUARY 3, | | | 2026 | | 2025 | | 2024 | | | | (in thousands) | Stock-based compensation expense | | $ | 5,619 | | $ | 3,669 | | $ | 2,874 |
|