Common Stock |
6 Months Ended | ||
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Aug. 01, 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 a share repurchase program, which has subsequently been increased and extended from time to time. Through August 1, 2026, the Board had authorized an aggregate of $700.0 million for share repurchases under the program. The current authorization 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 twenty-six weeks ended August 1, 2026, the Company repurchased 1,649,889 shares of its common stock for $137.3 million, inclusive of transaction costs, pursuant to its share repurchase program. The repurchases were funded by cash generated from operations. As of August 1, 2026, the Company had $121.5 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.
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