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Share-Based Compensation (Tables)

9 Months Ended

Oct. 30, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Stock Option Activity

A summary of the Company’s stock option activity for the 39 weeks ended October 30, 2021 follows:

						Weighted- Average				Weighted- Average Remaining Contractual				Aggregate
		Options				Exercise Price				Term				Intrinsic Value
		(In thousands)								(In years)				(In thousands)
Outstanding - January 30, 2021			3,940			$	14.87
Granted			478			$	31.46
Exercised (1)			(771	)		$	16.33
Outstanding - October 30, 2021			3,647			$	16.74				4.5			$	29,226
Vested and expected to vest - October 30, 2021			2,503			$	16.59				3.2			$	14,678
Exercisable - October 30, 2021 (2)			1,788			$	16.28				1.7			$	13,345

(1) Options exercised during the 39 weeks ended October 30, 2021 ranged in price from $8.62 to $21.41.

(2) Options exercisable represent “in-the-money” vested options based upon the weighted-average exercise price of vested options compared to the Company’s stock price on October 30, 2021.

Black-Scholes Option Valuation Assumptions

The fair value of stock options was estimated at the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions:

		39 Weeks Ended		39 Weeks Ended
		October 30,		October 31,
Black-Scholes Option Valuation Assumptions		2021		2020
Risk-free interest rate (1)		0.9%		0.3 - 0.6%
Dividend yield		1.6%		3.5 - 6.0%
Volatility factor (2)		50.7%		43.1 - 48.7%
Weighted-average expected term (3)		4.5 years		4.4 years

(1) Based on the U.S. Treasury yield curve in effect at the time of grant with a term consistent with the expected life of our stock options.

(2) Based on historical volatility of the Company’s common stock.

(3) Represents the period of time that options are expected to be outstanding. The weighted average expected option terms were determined based on historical experience.            

Summary of Restricted Stock Activity

A summary of the Company’s restricted stock activity is presented in the following tables:

		Time-Based Restricted Stock Units								Performance-Based Restricted Stock Units
		October 30, 2021								October 30, 2021
(Shares in thousands)		Shares				Weighted- Average Grant Date Fair Value				Shares				Weighted- Average Grant Date Fair Value
Nonvested - January 30, 2021			3,698			$	12.42				1,868			$	17.44
Granted			699			$	32.47				337			$	39.54
Vested			(1,478	)		$	14.90				(418	)		$	22.22
Cancelled			(200	)		$	13.49				(324	)		$	17.72
Nonvested - October 30, 2021			2,719			$	16.15				1,463			$	21.10

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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-Name Accounting Standards Codification
-Topic 718
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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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