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Shareholders' Equity
12 Months Ended
Jan. 31, 2021
Equity [Abstract]  
Shareholders' Equity

12. Shareholders’ Equity

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

 

 

 

Fiscal Year Ended January 31,

 

 

 

2021

 

 

2020

 

Number of common shares repurchased and subsequently retired

 

 

482,003

 

 

 

8,068,196

 

Total cost

 

$

7,036

 

 

$

217,421

 

Average cost per share, including commissions

 

$

14.60

 

 

$

26.95

 

 

The shares repurchased during fiscal 2021 were prior to the known spread of the COVID-19 pandemic in the United States, which forced the Company to close its stores for an extended period of time. As discussed in Note 1, “Nature of Business,” the Company temporarily suspended share repurchases during fiscal 2021.

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. As of January 31, 2021, 25,851,954 common shares were remaining under the programs.

In addition to the common shares repurchased under the share repurchase programs, during the fiscal years ended January 31, 2021 and 2020, the Company acquired and subsequently retired 161,335 and 185,430 common shares at a total cost of $3,876 and $5,600, respectively, from employees to meet minimum statutory tax withholding requirements.