Stock Repurchase Activity

6 Months Ended

Aug. 01, 2020

Treasury Stock Transactions, Excluding Value of Shares Reissued [Abstract]

Stock Repurchase Activity

Stock Repurchase ActivityIn November 2018, the Board of Directors (Board) authorized the extension of our Stock Repurchase Program (Program) in the amount of $300.0 million to repurchase our common stock through January 29, 2022. The Program authorizes repurchases of our common stock in open market or negotiated transactions, with the amount and timing of repurchases dependent on market conditions and at the discretion of our management. In addition to the Program, we also acquire shares of our common stock

from holders of restricted stock unit awards to satisfy tax withholding requirements due at vesting. Shares acquired from holders of restricted stock unit awards to satisfy tax withholding requirements do not reduce the Program authorization.

During the 13-weeks ended August 1, 2020, we did not repurchase any shares of our common stock under the Program and acquired 4,061 shares from holders of restricted stock unit awards to satisfy tax withholding requirements of $0.1 million. During the 26-weeks ended August 1, 2020, we repurchased 428,018 shares of our common stock at a cost of $9.7 million under the Program and acquired 34,956 shares from holders of restricted stock unit awards to satisfy tax withholding requirements of $0.5 million.

During the 13-weeks ended August 3, 2019, we repurchased 429,964 shares of our common stock at a cost of $8.9 million and acquired no shares from holders of restricted stock unit awards to satisfy tax withholding requirements. During the 26-weeks ended August 3, 2019, we repurchased 659,964 shares of our common stock at a cost of $13.7 million under the Program and acquired 29,432 shares from holders of restricted stock unit awards to satisfy tax withholding requirements of $0.6 million.

As of August 1, 2020, we had approximately $143.3 million remaining under the Program for stock repurchases.