Stock Repurchase Activity

9 Months Ended

Oct. 31, 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 October 31, 2020, we did not repurchase any shares of our common stock under the Program and did not acquire any shares from holders of restricted stock unit awards to satisfy tax withholding requirements. During the 39-weeks ended October 31, 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 November 2, 2019, we repurchased 371,976 shares of our common stock at a cost of $7.0 million and did not acquire any shares from holders of restricted stock unit awards to satisfy tax withholding requirements. During the 39-weeks ended November 2, 2019, we repurchased 1,031,940 shares of our common stock at a cost of $20.8 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 October 31, 2020, we had approximately $143.3 million remaining under the Program for stock repurchases.