v3.25.1
Employee benefits
12 Months Ended
Jan. 31, 2025
Retirement Benefits [Abstract]  
Employee benefits Employee benefits
The Company has established a 401(k) plan that qualifies as a deferred compensation arrangement under Section 401 of the IRS Code. All non-seasonal team members over the age of 18 are eligible to participate in the plan. The plan provides for Company matching of employee contributions up to 3.5% of eligible earnings. Employer matching contribution expense was $8.4 million, $8.7 million and $8.0 million for the fiscal years ended January 31, 2025, 2024 and 2023, respectively.
The Company is self-insured for medical and dental benefits for all qualifying employees. The medical plan carries a stop-loss policy which will protect from individual claims during the plan year exceeding $600,000. The Company records estimates of costs of claims incurred based on an analysis of historical data and independent estimates. The Company's liability for self-insured medical claims is included in accrued compensation in its consolidated balance sheet and was $5.2 million and $4.7 million as of January 31, 2025 and 2024, respectively.