v3.26.3
Stockholders' Equity and Share-Based Compensation
 6 Months Ended
Aug. 04, 2026
Equity [Abstract]  
Stockholders' Equity and Share-Based Compensation Stockholders' Equity and Share-Based Compensation
Share issuances and repurchases
The Company treats shares withheld for tax purposes on behalf of its employees in connection with the vesting of time-based and performance-based restricted stock units as common stock repurchases because they reduce the number of shares that would have been issued upon vesting. These were immaterial for all periods presented.
In March 2023, our Board of Directors approved a share repurchase program with an initial authorized limit of $100.0. Subsequently, our Board of Directors approved additional repurchases for a total authorized limit of $600.0 under the plan as of August 4, 2026. The remaining dollar value of shares that may be repurchased under the program was $104.0 as of August 4, 2026. Future decisions to repurchase shares continue to be at the discretion of the Board of Directors and will be dependent on our operating performance, financial condition, capital expenditure requirements and other factors that the Board of Directors considers relevant.
Share-based compensation
Our share-based compensation expense, which is included in General and administrative expenses on the Consolidated Statements of Comprehensive Income (Loss), was as follows for the periods presented:
Three Months EndedSix Months Ended
August 4, 2026August 5, 2025August 4, 2026August 5, 2025
Share-based compensation expense$0.9 $7.9 $3.4 $10.9 
Share-based awards
The Company’s long-term incentive compensation plan provides awards to executive and management personnel, as well as directors, including share-based awards. Options granted to employees generally become exercisable ratably over a three-year period from the grant date. Performance-based restricted stock units and market stock units awarded to employees generally either vest ratably over three years or fully vest after three years, subject to the achievement of
specified performance or market conditions, as applicable. Time-based restricted stock units have various service periods not exceeding five years.
Our share-based compensation award activity during the six months ended August 4, 2026 was as follows:
Options
Restricted
Stock Units (1)
Total
Outstanding as of February 3, 20261.871.022.89
Granted0.711.271.98
RSUs vested and distributed—(0.16)(0.16)
Forfeited or cancelled(0.41)(0.46)(0.87)
Outstanding as of August 4, 20262.171.673.84
Remaining unrecognized compensation expense$6.7 $16.4 $23.1 
(1)    Includes performance-based restricted stock units, market-based restricted stock units and time-based restricted stock units.

The fair value of our time-based and performance-based restricted stock units was based on our closing stock price on the date of grant. The grant date fair value of stock options was determined using the Black-Scholes option valuation model. The unrecognized expense will be substantially recognized by the end of fiscal 2028.
During fiscal 2026, the Company granted certain options, time-based and performance-based restricted stock units to the Company’s executive officers, the Board of Directors, and employees. The majority of these grants vest over three years.