XML 28 R16.htm IDEA: XBRL DOCUMENT v3.20.2
Shareholders' Equity
6 Months Ended
Jul. 31, 2020
Equity [Abstract]  
Shareholders' Equity

9. Shareholders’ Equity  

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

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

July 31,

 

 

July 31,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Number of common shares repurchased and subsequently retired

 

 

 

 

 

5,637,369

 

 

 

482,003

 

 

 

8,068,196

 

Total cost

 

$

 

 

$

146,180

 

 

$

7,036

 

 

$

217,421

 

Average cost per share, including commissions

 

$

 

 

$

25.93

 

 

$

14.60

 

 

$

26.95

 

 

The shares repurchased during the six months ended July 31, 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 July 31, 2020, 25,851,954 common shares were remaining under the programs, the Company has temporarily suspended all share repurchase activity under the programs.

During the six months ended July 31, 2020, the Company acquired and subsequently retired 155,734 common shares at a total cost of $3,742 from employees to meet minimum statutory tax withholding requirements. During the six months ended July 31, 2019, the Company acquired and subsequently retired 178,064 common shares at a total cost of $5,429 from employees to meet minimum statutory tax withholding requirements.