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Equity-Based Compensation (Tables) | 12 Months Ended
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Feb. 02, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Outstanding Partnership Interests | A summary of the Partnership Interests is presented below (shares in thousands):
| Number of Shares |  | Weighted Average Benchmark Price
Outstanding as of January 28, 2024 | 8,669 |  |  | $ | — |
Exchanged | (1,546) |  |  | — |
Outstanding as of February 2, 2025 | 7,123 |  |  | $ | — |
Schedule of Non-Vested Partnership Interests |
| Number of Shares |  | Weighted Average Benchmark Price
Unvested as of January 28, 2024 | 387 |  |  | $ | — |
Vested | (165) |  |  | — |
Unvested as of February 2, 2025 | 222 |  |  | $ | — |
Schedule of Stock Appreciation Rights | A summary of the stock appreciation rights is presented below (shares in thousands):
| Number of Shares |  | Weighted Average Exercise Price |  | Aggregate Intrinsic Value
Outstanding as of January 28, 2024 | 332 |  |  | $ | 5.28 |  |  |
Exchanged | (160) |  |  | 4.46 |  |  |
Outstanding as of February 2, 2025 | 172 |  |  | $ | 6.03 |  |  | $ | 9 |
Exercisable as of February 2, 2025 | 109 |  |  | $ | 4.59 |  |  | $ | 6 |
The estimated fair value of the stock appreciation rights when granted was amortized to expense over the vesting or required service period. The fair value for these stock appreciation rights was estimated by management, after considering a third-party valuation specialist’s assessment, at the date of grant based on the expected life of the unit appreciation rights, using a Black-Scholes pricing model.
Share-Based Payment Arrangement, Restricted Stock Unit, Activity | A summary of the restricted stock units granted under the Omnibus Incentive Plan is presented below (shares in thousands):
| Number of Shares |  | Weighted Average Grant Date Fair Value
Outstanding and Unvested as of January 28, 2024 | 359 |  |  | $ | 23.10 |
Granted | 123 |  |  | 50.28 |
Distributed | (162) |  |  | 23.83 |
Forfeited | (3) |  |  | 32.92 |
Outstanding and Unvested as of February 2, 2025 | 317 |  |  | $ | 33.23 |
Share-Based Payment Arrangement, Option, Activity | A summary of the stock options granted under the Omnibus Incentive Plan is presented below (shares in thousands):
| Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value
Outstanding as of January 28, 2024 | 1,720 |  |  | $ | 21.54 |  |  |  |  |
Granted | 512 |  |  | 50.32 |  |  |  |  |
Exercised | (135) |  |  | 21.36 |  |  |  |  |
Forfeitures | (4) |  |  | 36.11 |  |  |  |  |
Outstanding as of February 2, 2025 | 2,093 |  |  | $ | 28.56 |  |  | 8.0 |  | $ | 58 |
Exercisable as of February 2, 2025 | 698 |  |  | $ | 21.32 |  |  | 7.5 |  | $ | 25 |
The stock options generally vest over a three-year period and expire after ten years. The estimated grant-date fair value of stock options when granted was amortized to expense over the vesting period. The fair value for these stock options was estimated by management, after considering a third-party valuation specialist’s assessment, at the date of grant based on the expected life of the stock options, using a Black-Scholes pricing model with the following weighted-average assumptions:
| February 2, 2025 |  | January 28, 2024 |  | January 29, 2023
Risk-free interest rate | 4.04% |  | 3.87% |  | 1.85%
Dividend yield | 1.0% |  | 2.0% |  | —%
Expected volatility factor | 36.5% |  | 40.0% |  | 40.0%
Expected life in years | 6.0 |  | 6.0 |  | 6.0
Weighted-average fair value | $ | 19.15 |  | $ | 8.06 |  | $ | 8.55
The risk free interest rate was determined based on an analysis of U.S. Treasury zero-coupon market yields as of the date of the stock options grant for issues having expiration lives similar to the expected life of the stock options. The expected volatility was based on an analysis of the historical volatility of a peer group over the expected life of the stock options. The expected term in years for each stock option was calculated using a simplified method based on the average of each option’s vesting term of three years and contractual term of ten years.

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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock appreciation rights awards that were outstanding at the beginning and end of the year, and the number of stock appreciation rights awards that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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