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Earnings (loss) per common share ("EPS")
 12 Months Ended
Feb. 01, 2025
Earnings Per Share [Abstract]  
Earnings (loss) per common share (“EPS”) Earnings (loss) per common share (“EPS”)
Basic EPS is computed by dividing net (loss) income attributable to common shareholders by the weighted average number of common shares outstanding for the period. The computation of basic EPS for the periods presented is outlined in the table below:
(in millions, except per share amounts)Fiscal 2025Fiscal 2024Fiscal 2023
Numerator:
Net (loss) income attributable to common shareholders$(35.6)$775.9 $342.2 
Denominator:
Weighted average common shares outstanding44.1 44.9 46.6 
EPS – basic$(0.81)$17.28 $7.34 
The dilutive effect of share awards represents the potential impact of outstanding awards issued under the Company’s share-based compensation plans, including RSAs, RSUs, PSUs, and stock options issued under the Omnibus Plan and stock options issued under the Share Saving Plans. The dilutive effect of PSUs represents the number of contingently issuable shares that would be issuable if the end of the period was the end of the contingency period and is based on the actual achievement of performance metrics through the end of the current period. The dilutive effect of the Preferred Shares represents the potential impact for common shares that would be issued upon conversion. Potential common share dilution related to share awards and Preferred Shares is determined using the treasury stock and if-converted methods, respectively. Prior to modifications of the Preferred Shares described in Note 6, under the if-converted method, the Preferred Shares were assumed to be converted at the beginning of the period, and the resulting common shares are included in the denominator of the diluted EPS calculation for the entire period being presented, only in the periods in which such effect is dilutive. Following the modifications, for any conversions, the denominator includes the weighted average of the potential common shares for the period that the related Preferred Shares were outstanding prior to such conversion. Additionally, in periods in which the Preferred Shares are dilutive, cumulative dividends and accretion for issuance costs associated with the Preferred Shares are added back to net (loss) income attributable to common shareholders. Following the modifications, a modified if-converted method is used to determine potential common share dilution related to the remaining outstanding Preferred Shares. Under this method, dividends and accretion of issuance costs are no longer added back to net (loss) income attributable to common shareholders. See Note 6 for additional discussion of the Company’s Preferred Shares.
The computation of diluted EPS for the periods presented is outlined in the table below:
(in millions, except per share amounts)Fiscal 2025Fiscal 2024Fiscal 2023
Numerator:
Net (loss) income attributable to common shareholders$(35.6)$775.9 $342.2 
Add: Dividends on Preferred Shares34.5 34.5 
Numerator for diluted EPS$(35.6)$810.4 $376.7 
Denominator:
Basic weighted average common shares outstanding44.1 44.9 46.6 
Plus: Dilutive effect of share awards (1)
— 0.9 2.0 
Plus: Dilutive effect of Preferred Shares— 8.2 8.1 
Diluted weighted average common shares outstanding44.1 54.0 56.7 
EPS – diluted$(0.81)$15.01 $6.64 
(1)    For Fiscal 2025, Fiscal 2024 and Fiscal 2023, the estimated dilutive effect of share awards includes 0.1 million, 0.4 million and 0.9 million of contingently issuable PSUs, respectively.
The calculation of diluted EPS excludes the following items for each respective period on the basis that their effect would be antidilutive:
(in millions)Fiscal 2025Fiscal 2024Fiscal 2023
Share awards0.4 — — 
Potential impact of Preferred Shares1.7 — — 
Total antidilutive shares2.1 — —