Related Party Transactions

6 Months Ended

Jul. 29, 2017

Related Party Transactions

Related Party Transactions

6.    Related Party Transactions

In connection with the initial public offering, the management agreement with our controlling shareholder, AEA Investors LP (“AEA”), an affiliate of our controlling shareholder, and affiliated co-investors including Starr Investment Holdings, LLC (“Starr Investments” and, together with AEA, the “Sponsors”), was terminated as of August 3, 2016 and the Sponsors no longer receive management fees from us. Following the initial public offering, the Sponsors own approximately 84% of our outstanding common stock.

We were previously obligated to pay management fees of approximately $2.6 million annually to AEA. We recognized approximately $0.6 million and $1.3 million of management fees and reimbursed expenses during the thirteen and twenty-six weeks ended July 30, 2016, respectively.

We were also obligated to pay management fees of approximately $0.9 million annually to Starr Investments. We recognized approximately $0.2 million and $0.5 million of management fees during the thirteen and twenty-six weeks ended July 30, 2016, respectively.

Merry Mabbett Inc. (“MMI”) is owned by Merry Mabbett Dean, who is the mother of Lewis L. Bird III, our Chairman of the Board, Chief Executive Officer and President. During the thirteen and twenty-six weeks ended July 29, 2017 and July 30, 2016, Ms. Dean, through MMI, provided certain design services to us, including design for our home office, as well as design in our stores. In addition, through MMI, we purchased certain fixtures, furniture and equipment that is now owned and used by us in our home office, new store offices or in the product vignettes in the stores. During the thirteen weeks ended July 29, 2017 and July 30, 2016, we paid MMI an immaterial amount and approximately $0.1 million, respectively, for fixtures, furniture and equipment and design related services. During the twenty-six weeks ended July 29, 2017 and July 30, 2016, we paid MMI approximately $0.2 million and $0.1 million, respectively, for fixtures, furniture and equipment and design related services.