Common Stock |
3 Months Ended | ||
|---|---|---|---|
May 02, 2026 | |||
| Common Stock [Abstract] | |||
| Common Stock |
Common Stock
The Company’s capital structure consists of a single class of common stock with one vote per share. The Company has authorized 500,000,000 shares at $0.001 par value per share. Additionally, the Company has authorized 50,000,000 shares of preferred stock at $0.001 par value per share; to date, however, no preferred shares have been issued. Treasury stock, which consists of the Company’s common stock, is accounted for using the cost method.
Share Repurchase Program
In December 2020, the Company’s Board of Directors authorized common stock repurchases under a share repurchase program. The authorized amount of the program, which has been increased from time to time, is authorized for up to $700.0 million of shares of the Company’s stock as of May 2, 2026. The share repurchase program is effective through March 31, 2029. The shares to be repurchased may be purchased from time to time in open market conditions (including blocks), privately negotiated transactions, accelerated share repurchase programs or other
derivative transactions, issuer self-tender offers, or any combination of the foregoing. The timing of repurchases and the actual amount purchased will depend on a variety of factors, including the market price of the Company’s shares, general
market, economic and business conditions, and other corporate considerations. Repurchases may be made pursuant to plans intended to comply with Rule 10b5-1 under the Securities Exchange Act of 1934, which could allow the Company to purchase its
shares during periods when it otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods. Repurchases are expected to be funded from cash on hand or through the utilization of the
Company’s Revolving Credit Facility. The repurchase authorization does not require the purchase of a specific number of shares and is subject to suspension or termination by the Company’s Board of Directors at any time.
During the thirteen weeks ended May 2, 2026, the Company repurchased 542,486 shares of its common stock for $53.4 million, inclusive of transaction costs, pursuant to its share repurchase program. During the thirteen weeks ended May 3, 2025, the Company repurchased 159,757 shares of its common stock for $17.1 million, inclusive of transaction costs, pursuant to its share repurchase program. These expenditures were funded by cash generated from operations. As of May 2, 2026, the Company had $205.4 million remaining under its share repurchase authorization. There can be no assurance that any additional repurchases will be completed, or as to the timing or amount of any repurchases. The share repurchase program may be discontinued at any time.
|