STOCK REPURCHASE PROGRAM AND DIVIDENDS

6 Months Ended

Aug. 03, 2025

Equity [Abstract]

STOCK REPURCHASE PROGRAM AND DIVIDENDS

STOCK REPURCHASE PROGRAM AND DIVIDENDS

Stock Repurchase Program

In September 2024, our Board of Directors authorized a stock repurchase program for $1.0 billion, which went into effect during the thirteen weeks ended August 3, 2025 once our prior authorization was fully utilized. During the thirteen weeks ended August 3, 2025, we repurchased 1,227,599 shares of our common stock at an average cost of $162.22 per share for an aggregate cost of $199.1 million, excluding excise taxes on stock repurchases (net of issuances) of $2.0 million. During the twenty-six weeks ended August 3, 2025, we repurchased 1,826,790 shares of our common stock at an average cost of $158.26 per share for an aggregate cost of $289.1 million, excluding excise taxes on stock repurchases (net of issuances) of $2.1 million. As of August 3, 2025, there was $903.4 million remaining under our current stock repurchase program.

During the thirteen weeks ended July 28, 2024, we repurchased 921,466 shares of our common stock at an average cost of $140.89 per share for an aggregate cost of $129.8 million, excluding excise taxes on stock repurchases (net of issuances) of $0.7 million. During the twenty-six weeks ended July 28, 2024, we repurchased 1,235,264 shares of our common stock at an average cost of $140.54 per share for an aggregate cost of $173.6 million, excluding excise taxes on stock repurchases (net of issuances) of $0.7 million.

As of August 3, 2025, February 2, 2025 and July 28, 2024, we held treasury stock of $2.0 million, $0.4 million and $0.4 million, respectively, that represents the cost of shares available for issuance intended to satisfy future stock-based award settlements in certain foreign jurisdictions.

Stock repurchases under our program may be made through open market and privately negotiated transactions at times and in such amounts as management deems appropriate. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements, capital availability and other market conditions.

Dividends

We declared cash dividends of $0.66 and $0.57 per common share during the thirteen weeks ended August 3, 2025 and July 28, 2024, respectively.

We declared cash dividends of $1.32 and $1.14 during the twenty-six weeks ended August 3, 2025 and July 28, 2024, respectively. Our quarterly cash dividend may be limited or terminated at any time.