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Shareholders' Equity
 9 Months Ended
Oct. 31, 2021
Equity [Abstract]  
Shareholders' Equity

9. Shareholders’ Equity  

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

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

October 31,

 

 

October 31,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Number of common shares repurchased and subsequently retired

 

 

500,000

 

 

 

—

 

 

 

500,000

 

 

 

482,003

 

Total cost

 

$

14,888

 

 

$

—

 

 

$

14,888

 

 

$

7,036

 

Average cost per share, including commissions

 

$

29.78

 

 

$

—

 

 

$

29.78

 

 

$

14.60

 

 

The shares repurchased during the nine months ended October 31, 2020, 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. The Company temporarily suspended all share repurchase activity under the programs 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 October 31, 2021, 25,351,954 common shares were remaining under the programs.

During the nine months ended October 31, 2021, the Company acquired and subsequently retired 225,757 common shares at a total cost of $7,684 from employees to meet minimum statutory tax withholding requirements. During the nine months ended October 31, 2020, the Company acquired and subsequently retired 158,939 common shares at a total cost of $3,802 from employees to meet minimum statutory tax withholding requirements.