v3.26.1
Share-Based Compensation (Tables)
3 Months Ended
May 02, 2026
Share-Based Payment Arrangement [Abstract]  
Stock Option Activity Under Stock Option Plan
The following table summarizes stock option activity for the thirteen weeks ended May 2, 2026 (aggregate intrinsic value in thousands):
Stock
Options
Grant Date
Weighted
Average
Exercise Price
Weighted
Average
Remaining
Contractual
Life (in Years)
Aggregate
Intrinsic
Value (1)
Outstanding at January 31, 20264,125,458 $4.64 
Granted496,000 $4.20 
Exercised(14,750)$3.95 
Forfeited(72,500)$5.22 
Expired(2,875)$6.74 
Outstanding at May 2, 20264,531,333 $4.59 8.0$5,512 
Exercisable at May 2, 20261,503,833 $8.06 5.3$304 
(1)Intrinsic value for stock options is defined as the difference between the market price of our Class A common stock on the last business day of the fiscal period and the weighted average exercise price of in-the-money stock options outstanding at the end of the fiscal period. The market value per share was $4.40 at May 2, 2026.
Assumptions Used to Estimate Fair Value of Stock Options Granted
The fair values of stock options and performance-based stock options granted during the thirteen weeks ended May 2, 2026 and May 3, 2025 were estimated on the grant date using the following assumptions:
Thirteen Weeks Ended
 May 2,
2026
May 3,
2025
Weighted average grant-date fair value per option granted$2.57 $1.20 
Expected option term (1)
5.7 years5.4 years
Weighted average expected volatility factor (2)
65.0 %57.0 %
Weighted average risk-free interest rate (3)
4.0 %4.0 %
Expected annual dividend yield (4)
— %— %
(1)The expected option term of the awards represents the estimated time that options are expected to be outstanding based upon historical option data.
(2)Stock volatility for each grant is measured using the historical daily price changes of our common stock over the most recent period equal to the expected option term of the awards.
(3)The risk-free interest rate is determined using the rate on treasury securities with the same term as the expected life of the stock option as of the grant date.
(4)We do not currently have a dividend policy, and we do not currently anticipate paying any cash dividends on our common stock at this time.
Summary of Status of Non-Vested Restricted Stock
The following table summarizes the status of non-vested restricted stock as of May 2, 2026, and the changes since January 31, 2026:
Restricted
Stock
Weighted
Average
Grant-Date
Fair Value
Nonvested at January 31, 2026358,462 $1.56 
Granted— — 
Vested— — 
Nonvested at May 2, 2026358,462 $1.56 
Schedule of Stock Based Compensation The following table summarizes share-based compensation expense recorded in the Consolidated Statements of Operations (in thousands):
 Thirteen Weeks Ended
 May 2,
2026
May 3,
2025
Cost of goods sold$84 $70 
Selling, general, and administrative419 370 
Total share-based compensation$503 $440