Stock Based Compensation (Tables)

6 Months Ended

Aug. 01, 2026

Share-Based Payment Arrangement [Abstract]

Non-cash stock compensation expense is as follows:


	(in thousands)
	Three Months Ended				Six Months Ended
	August 1,		August 2,		August 1,		August 2,
Type of Non-Cash Stock Compensation	2026		2025		2026		2025
Restricted stock unit grants (a)	$	15,871	$	14,137	$	28,968	$	25,108
Stock option grants (a)		2,660		4,122		6,302		9,023
Performance stock unit grants (a)		13,583		14,189		33,146		20,133
Total (b)	$	32,114	$	32,448	$	68,416	$	54,264

(a)

Included in the line item “Selling, general and administrative expenses” in the Company’s Condensed Consolidated Statements of Income.

(b)

The amounts presented in the table above exclude taxes. For the three and six month periods ended August 1, 2026, the tax benefit related to the Company’s non-cash stock compensation was approximately $5.7 million and $12.9 million, respectively. For the three and six month periods ended August 2, 2025, the tax benefit related to the Company’s non-cash stock compensation was approximately $5.9 million and $10.1 million, respectively.

Stock Option Transactions

Stock option transactions during the six month period ended August 1, 2026 are summarized as follows:


	Number of Shares			Weighted Average Exercise Price Per Share
Options outstanding, January 31, 2026		1,260,295		$	199.72
Options granted		—			—
Options exercised (a)		(195,497	)		185.26
Options forfeited		(12,110	)		186.55
Options outstanding, August 1, 2026		1,052,688			202.56

(a)

Options exercised during the six month period ended August 1, 2026 had a total intrinsic value of $27.4 million.

Stock Options Vested and Expected to Vest as Well as Option Exercisable

The following table summarizes information about the stock options vested and expected to vest during the contractual term of such options as of August 1, 2026:


	Options		Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Aggregate Intrinsic Value (in millions)
Options vested and expected to vest		1,052,688		5.7	$	202.56	$	174.7
Options exercisable		817,687		5.1	$	208.33	$	131.0

Award Grant and Vesting Transactions

Restricted stock unit transactions during the six month period ended August 1, 2026 are summarized as follows:


	Number of Shares			Weighted Average Grant Date Fair Value Per Award
Non-vested awards outstanding, January 31, 2026		727,513		$	207.18
Awards granted		273,944			317.71
Awards vested (a)		(256,242	)		200.52
Awards forfeited		(28,049	)		236.19
Non-vested awards outstanding, August 1, 2026		717,166			250.64

(a)

Restricted stock units vested during the six month period ended August 1, 2026 had a total intrinsic value of $81.3 million.

Performance Stock Unit Transactions

Performance stock unit transactions during the six month period ended August 1, 2026 are summarized as follows:


	Number of Shares			Weighted Average Grant Date Fair Value Per Award
Non-vested awards outstanding, January 31, 2026		363,954		$	200.92
Awards granted		213,530			255.46
Awards vested (a)		(195,656	)		184.94
Awards forfeited		(3,169	)		242.80
Non-vested awards outstanding, August 1, 2026		378,659			239.59

(a)

Performance-based stock awards vested during the six month period ended August 1, 2026 had a total intrinsic value of $62.3 million.