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Shareholders' Equity
3 Months Ended
Apr. 30, 2020
Equity [Abstract]  
Shareholders' Equity

9. Shareholders’ Equity  

Share repurchase activity under the Company’s share repurchase programs was as follows:

 

 

 

Three Months Ended

 

 

 

April 30,

 

 

 

2020

 

 

2019

 

Number of common shares repurchased and subsequently retired

 

 

482,003

 

 

 

2,430,827

 

Total cost

 

$

7,036

 

 

$

71,242

 

Average cost per share, including commissions

 

$

14.60

 

 

$

29.31

 

 

The shares repurchased during the three months ended April 30, 2020, were prior to the known spread of the coronavirus pandemic in the United States, which forced the Company to close its stores for an extended period of time. On August 22, 2017, the Company’s Board of Directors authorized the repurchase of 20,000,000 common shares under a share repurchase program. On June 4, 2019, the Company’s Board of Directors authorized the repurchase of an additional 20,000,000 common shares under a share repurchase program. While as of April 30, 2020, 25,851,954 common shares were remaining under the programs, the Company has suspended all share repurchase activity under the programs for the foreseeable future.

During the three months ended April 30, 2020, the Company acquired and subsequently retired 154,664 common shares at a total cost of $3,720 from employees to meet minimum statutory tax withholding requirements. During the three months ended April 30, 2019, the Company acquired and subsequently retired 176,081 common shares at a total cost of $5,383 from employees to meet minimum statutory tax withholding requirements.