SHAREHOLDERS' EQUITY

12 Months Ended

Feb. 03, 2024

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY

14.   SHAREHOLDERS’ EQUITY

Company Stock

The Company’s common stock, which has a $0.01 par value per share, is listed for trading under the ticker symbol “CAL” on the New York Stock Exchange.  Holders of the common shares are entitled to one vote per share. The Company is also authorized to issue preferred shares with a $1.00 par value per share.

The following table provides additional information regarding the Company’s common and preferred stock:

(in thousands)	February 3, 2024			January 28, 2023
		Common	Preferred	Common	Preferred
Authorized shares		100,000	1,000	100,000	1,000
Outstanding shares		35,490	—	35,716	—
Treasury shares		10,597	—	10,371	—

Stock Repurchase Programs

On September 2, 2019 and March 10, 2022, the Board of Directors approved stock repurchase programs (“2019 Program" and "2022 Program", respectively) authorizing the repurchase of the Company’s outstanding common stock of up to 5.0 million shares in the 2019 Program and 7.0 million shares in the 2022 Program.  The Company can use the repurchase programs to repurchase shares on the open market or in private transactions from time to time, depending on market conditions.  The repurchase programs do not have an expiration date.  Repurchases of common stock are limited under the Company’s debt agreements.  During 2023, the Company repurchased 763,000 shares under the share repurchase programs.  In total, 5.0 million shares have been repurchased under the 2019 Program and there are no additional shares authorized to be repurchased.  There are 5,604,379 additional shares authorized to be repurchased under the 2022 Program as of February 3, 2024.      

Repurchases Related to Employee Share-based Awards

During 2023, 2022 and 2021, employees tendered 449,285, 246,688 and 205,213 shares, respectively, related to certain share-based awards.  These shares were tendered in satisfaction of the exercise price of stock options and/or to satisfy tax withholding amounts for restricted stock, stock performance awards and non-qualified stock options.  Accordingly, these share repurchases are not considered a part of the Company’s publicly announced stock repurchase programs.

Accumulated Other Comprehensive Loss

The following table sets forth the changes in accumulated other comprehensive loss, net of tax, by component for 2023, 2022 and 2021:

			Pension and		Accumulated
	Foreign		Other		Other
	Currency		Postretirement		Comprehensive
($ thousands)	Translation		Transactions (1)		(Loss) Income
Balance January 30, 2021	$	(111)	$	(9,025)	$	(9,136)
Other comprehensive loss before reclassifications		(677)		(116)		(793)
Reclassifications:
Amounts reclassified from accumulated other comprehensive loss		—		1,788		1,788
Tax benefit		—		(465)		(465)
Net reclassifications		—		1,323		1,323
Other comprehensive (loss) income		(677)		1,207		530
Balance January 29, 2022	$	(788)	$	(7,818)	$	(8,606)
Other comprehensive loss before reclassifications		(425)		(19,776)		(20,201)
Reclassifications:
Amounts reclassified from accumulated other comprehensive loss		—		2,991		2,991
Tax benefit		—		(934)		(934)
Net reclassifications		—		2,057		2,057
Other comprehensive loss		(425)		(17,719)		(18,144)
Balance January 28, 2023	$	(1,213)	$	(25,537)	$	(26,750)
Other comprehensive income (loss) before reclassifications		115		(10,506)		(10,391)
Reclassifications:
Amounts reclassified from accumulated other comprehensive loss		—		3,552		3,552
Tax benefit		—		(915)		(915)
Net reclassifications		—		2,637		2,637
Other comprehensive income (loss)		115		(7,869)		(7,754)
Balance February 3, 2024	$	(1,098)	$	(33,406)	$	(34,504)

(1) Amounts reclassified are included in other income, net.  Refer to Note 5 to the consolidated financial statements for additional information related to pension and other postretirement benefits.