Stock-Based Compensation (Tables)

12 Months Ended

Jan. 29, 2022

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Stock Option Activity

The following is a summary of stock option activity for fiscal 2022:

	Number of Options			Weighted-Average Exercise Price Per Option		Weighted-Average Remaining Contractual Term		Aggregate Intrinsic Value (in millions)
Outstanding at beginning of period		3,086,467		$	6.11
Granted		656,656		$	12.00
Exercised		(482,332	)	$	4.83
Cancelled		(419,339	)	$	5.49
Outstanding at end of period		2,841,452		$	7.78		7.0	$	8.4
Exercisable at end of period		1,105,349		$	8.64		5.2	$	1.9

Schedule of Assumptions Used in Applying Black-Scholes Pricing Model

The weighted-average fair value of options granted was estimated on the grant date using the Black-Scholes option-pricing model with the following assumptions:

	Fiscal Year Ended
	January 29, 2022			January 30, 2021			February 1, 2020
Weighted-average fair value per option	$	4.02		$	0.50		$	5.01
Expected volatility rate		48.00	%		41.25	%		39.01	%
Risk free interest rate		1.04	%		0.68	%		2.53	%
Expected term of options	6.3 years			7.0 years			7.0 years
Expected dividend yield		3.3	%		0.0	%		0.0	%

Summary of Restricted Stock Unit

The following is a summary of restricted stock unit activity for fiscal 2022:

	Number of Restricted Stock Units			Weighted-Average Grant Date Fair Value
Unvested at beginning of period		—		$	—
Granted		216,838		$	12.83
Forfeited		(20,555	)	$	12.63
Unvested at end of period		196,283		$	12.85

Summary of Stock-Based Compensation Expense

The following table shows the expense recognized by the Company for stock-based compensation:

	Fiscal Year Ended
	January 29, 2022		January 30, 2021		February 1, 2020
	(Dollars in millions)
Stock-based compensation expense	$	2.5	$	1.5	$	1.2