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Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Feb. 01, 2025
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Jan. 30, 2021
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
Pay Versus Performance
 
In accordance with rules adopted by the SEC pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we are providing the following disclosure regarding executive Compensation Actually Paid (“CAP”), as calculated under applicable SEC rules, for our principal executive officer (“PEO”) and other named executive
officers (“Non-PEO NEOs”)
and Company performance for the fiscal years listed below.
The methodology for calculating CAP to our PEO and CAP to
our Non-PEO NEOs,
including details regarding the amounts that were deducted from, and added to, the Summary Compensation Totals (“SCT”) totals to arrive at the values presented for CAP, are provided in the footnotes to the table. A discussion of the relationship between CAP and Company performance measures (i) listed in the table below and (ii) that the Company has deemed most important in linking CAP during Fiscal 2024 to Company performance is also presented below. Note that
for Non-PEO NEOs,
compensation is reported as an average.
The Compensation Committee does not utilize CAP as the basis for making compensation decisions. For information related to how the Compensation Committee assessed the Company’s performance and determined compensation for the NEOs, see the CD&A section of this Proxy Statement and in the proxy statements for Fiscal 2020, Fiscal 2021, Fiscal 2022 and Fiscal 2023.
 
Pay Versus Performance Table
Fiscal
Year
  
Summary
Compensation
Table Total for
PEO
(1)

($)
  
Compensation
Actually Paid
to PEO
(1)(2)(3)

($)
  
Average
Summary
Compensation
Table Total for
Non-PEO

NEOs
(1)

($)
  
Average
Compensation
Actually Paid
to
Non-PEO

NEOs
(1)(2)(3)

($)
  
Value of Initial Fixed $100
Investment based on:
(4)
 
  
Net Income
(Loss)
($ Millions)
(5)
  
Adjusted
Earnings
Before
Interest and
Taxes
($ Millions)
(6)
 
 
Total
Shareholder
Return
($)
  
Peer Group
Total
Shareholder
Return
($)
2024   $14,980,527   $3,597,586   $4,984,643   $1,942,131   $125.0   $153.5   $329   $452
2023   $16,793,219   $24,307,437   $5,932,748   $8,206,623   $156.8   $139.7   $170   $386
2022   $9,776,540   $1,499,742   $3,080,683   $726,957   $115.0   $119.1   $125   $280
2021   $14,875,447   $15,274,358   $5,334,752   $5,623,793   $160.4   $122.0   $420   $617
2020   $14,784,288   $29,296,913   $4,920,732   $9,134,036   $158.7   $114.2   $(209)   $12
 
(1)
Jay Schottenstein was our PEO for each fiscal year presented. The individuals comprising the
Non-PEO
NEOs for each fiscal year presented are listed below.
 
Fiscal 2020
   
Fiscal 2021
   
Fiscal 2022
   
Fiscal 2023
   
Fiscal 2024
Michael Mathias    Michael Mathias    Michael Mathias    Michael Mathias    Michael Mathias
Jennifer Foyle    Jennifer Foyle    Jennifer Foyle    Jennifer Foyle    Jennifer Foyle
Michael Rempell    Michael Rempell    Michael Rempell    Michael Rempell    Marisa Baldwin
Charles Kessler    Andrew McLean    Marisa Baldwin    Marisa Baldwin   
 
Robert Madore   
 
 
    Andrew McLean   
 
 
   
 
 
 
(2)
The amounts shown for CAP have been calculated in accordance with Item 402(v) of Regulation
S-K
and do not reflect compensation actually earned,
realized
, or received by the Company’s NEOs. These amounts reflect the SCT Total with certain adjustments as described in footnote 3 below.
 
(3)
CAP reflects the exclusions and inclusions of certain amounts for the PEO and the
Non-PEO NEOs
as set forth below. Equity values are calculated in accordance with ASC 718. Amounts in the “Exclusion of Stock Awards and Option Awards for PEO” column are based on the amounts set forth in the “Stock Awards” and “Option Awards” columns included in the SCT for the applicable fiscal year. Amounts in the “Average Exclusion of Stock Awards and Option Awards
for Non-PEO NEOs”
column are based on average amounts set forth in “Stock Awards” and “Option Awards” columns included in the SCT for the applicable fiscal year. Amounts for the
varying non-PEO NEOs
serving during Fiscal 2023, Fiscal 2022, Fiscal 2021 and Fiscal 2020 are based on the SCT included in our proxy statement for the respective fiscal year.
 
 
PEO SCT Total Compensation to CAP Reconciliation
  
Fiscal Year
   
Summary Compensation
Table Total for PEO
($)
     
Exclusion of Stock
Awards and Option
Awards for PEO
($)
     
Inclusion of Equity
Values for PEO
($)
     
Compensation Actually
Paid to PEO
($)
  
2024
      $14,980,527        $(9,500,024)        $(1,882,917)        $3,597,586  
 
            
Average
Non-PEO
NEOs SCT Total Compensation to CAP Reconciliation
  
Fiscal Year
   
Average Summary
Compensation Table
Total for Non-PEO NEOs

($)
     
Average Exclusion of
Stock Awards and
Option Awards for
Non-PEO
NEOs
($)
     
Average Inclusion of
Equity Values for
Non-PEO
NEOs
($)
     
Average Compensation
Actually Paid to
Non-PEO
NEOs
($)
  
2024
      $4,984,643        $(2,581,674)        $(460,838)        $1,942,131  
The amounts in the “Inclusion of Equity
Values
for PEO” and “Average
Inclusion
of Equity Values for
Non-PEO
NEOs” columns of the tables above are derived from the amounts set forth in the following tables:
 
Fiscal Year
  
Fiscal
Year-End Fair

Value of Equity
Awards

Granted During
Fiscal Year
That Remained
Unvested as of
Last Day of
Fiscal Year for
PEO
($)
  
plus,
Change in Fair
Value from Last
Day of Prior
Fiscal Year to
Last Day of
Fiscal Year of
Unvested
Equity Awards
for PEO
($)
  
plus,
Vesting-Date
Fair Value of
Equity Awards
Granted During
Year that
Vested During
Fiscal Year for
PEO
($)
  
plus,
Change in Fair
Value 
from Last
Day of Prior
Fiscal Year to
Vesting Date of
Unvested
Equity Awards
that Vested
During Fiscal
Year for PEO
($)
  
plus,
Fair Value at
Last Day of
Prior Fiscal
Year of Equity
Awards
Forfeited During
Fiscal Year for
PEO
($)
  
plus,
Value of
Dividends or
Other Earnings
Paid on Stock
or Option
Awards Not
Otherwise
Included for
PEO
($)
  
Total -
Inclusion of
Equity Values
for PEO
($)
2024
   $4,225,906   $(5,654,655)   —   $(454,168)   —   —   $(1,882,917)
 
Fiscal Year
  
Average
Year-End
Fair
Value of Equity
Awards
Granted During
Fiscal Year
That Remained
Unvested as of
Last Day of
Fiscal Year for
Non-PEO

NEOs
($)
  
plus,
Average
Change in Fair
Value from Last
Day of Prior
Fiscal Year to
Last Day of
Fiscal Year of
Unvested
Equity Awards
for
Non-PEO

NEOs
($)
  
plus,
Average
Vesting-Date
Fair Value of
Equity Awards
Granted During
Fiscal Year that
Vested During
Fiscal Year for
Non-PEO
NEOs
($)
  
plus,
Average
Change in Fair
Value from Last
Day of Prior
Fiscal Year to
Vesting Date of
Unvested
Equity Awards
that Vested
During Fiscal
Year for Non-
PEO NEOs
($)
  
plus,
Average Fair
Value at Last
Day of Prior
Fiscal Year of
Equity Awards
Forfeited During
Fiscal Year for
Non-PEO
NEOs
($)
  
plus,
Average Value
of Dividends or
Other Earnings
Paid on Stock
or Option
Awards Not
Otherwise
Included for
Non-PEO
NEOs
($)
  
Total - Average
Inclusion of
Equity Values
for
Non-PEO

NEOs
($)
2024
   $1,148,409   $(1,487,316)   —    $(121,931)   —    —    $(460,838)
 
(4)
The Company’s peer group used for
compensation
benchmarking purposes (the “Peer Group”) was utilized for purposes of calculating Peer Group Total Shareholder Return (“TSR”) for all periods presented, as follows:
 
 
For Fiscal 2024: Abercrombie & Fitch Co.; Burberry Group plc; Capri Holdings Limited; The Gap, Inc.; Guess?, Inc.; Hanesbrands Inc.; Kontoor Brands; Levi Strauss & Co.; Lululemon Athletica, Inc.; PVH Corp.; Ralph Lauren Corporation; Tapestry, Inc.; Under Armour Inc.; Urban Outfitters, Inc; and Victoria’s Secret & Co. (collectively, the “2024 Peer Group”). Chico’s FAS, Inc. was removed for 2024 as they were taken private and ceased trading as a public company in January 2024. Express, Inc. is included through April 2024, when the company filed for Chapter 11 bankruptcy.
 
 
COMPENSATION TABLES AND RELATED INFORMATION
 
 
TSR for both the Company and the Peer Group is based on an initial $100 investment, measured on a cumulative basis from the market close on February 1, 2020, through and including the end of the fiscal year for which TSR is being presented in the table. TSR calculations reflect reinvestment of dividends. Historical stock performance is not necessarily indicative of future stock performance.
 
 
For Fiscal 2023, our peer group consisted of the following companies: Abercrombie & Fitch Co.; Burberry Group plc; Capri Holdings Limited; Chico’s FAS, Inc.; Express, Inc.; The Gap, Inc.; Guess?, Inc.; Hanesbrands Inc.; Kontoor Brands; Levi Strauss & Co.; Lululemon Athletica, Inc.; PVH Corp.; Ralph Lauren Corporation; Tapestry, Inc.; Under Armour Inc.; Urban Outfitters, Inc; and Victoria’s Secret & Co. (collectively, the “2023 Peer Group”).
 
 
For comparison, the table below lists the value of $100 invested in the peer group with (2023 Peer Group) and without (2024 Peer Group) Chico’s FAS, Inc. Additionally, Express, Inc. is excluded in the 2024 TSR calculation beginning after April 2024 due to bankruptcy.
 
Fiscal Year
   
2023 Peer Group
   
2024 Peer Group
     
 
2024
        $153.49        $153.49    
 
 
 
2023
        $139.94        $139.67    
 
 
 
2022
        $119.10        $119.08    
 
 
 
2021
        $121.97        $122.01    
 
 
 
2020
        $113.91        $114.15    
 
 
 
 
 
 
 
(5)
Amounts shown are net income (loss) attributable to the Company, as reflected in the Company’s Consolidated Statements of Operations for each of Fiscal 2020, Fiscal 2021, Fiscal 2022, Fiscal 2023 and Fiscal 2024.
 
(6)
EBIT is a
non-GAAP
or adjusted measure. EBIT represents net income, as reported in our consolidated financial statements, before interest expense and income taxes and excludes any asset impairment and restructuring charges, as determined by the Compensation Committee. See Appendix A of this Proxy Statement for additional detail on adjusted results and other important information regarding the use of
non-GAAP
or adjusted measures. We have identified EBIT as our Company-Selected Measure (“CSM”) that represents, in our view, the most important financial performance measure used to link CAP to our performance for Fiscal 2024.
       
Company Selected Measure Name Adjusted Earnings Before Interest and Taxes        
Named Executive Officers, Footnote
(1)
Jay Schottenstein was our PEO for each fiscal year presented. The individuals comprising the
Non-PEO
NEOs for each fiscal year presented are listed below.
 
Fiscal 2020
   
Fiscal 2021
   
Fiscal 2022
   
Fiscal 2023
   
Fiscal 2024
Michael Mathias    Michael Mathias    Michael Mathias    Michael Mathias    Michael Mathias
Jennifer Foyle    Jennifer Foyle    Jennifer Foyle    Jennifer Foyle    Jennifer Foyle
Michael Rempell    Michael Rempell    Michael Rempell    Michael Rempell    Marisa Baldwin
Charles Kessler    Andrew McLean    Marisa Baldwin    Marisa Baldwin   
 
Robert Madore   
 
 
    Andrew McLean   
 
 
   
 
 
        
Peer Group Issuers, Footnote
(4)
The Company’s peer group used for
compensation
benchmarking purposes (the “Peer Group”) was utilized for purposes of calculating Peer Group Total Shareholder Return (“TSR”) for all periods presented, as follows:
 
 
For Fiscal 2024: Abercrombie & Fitch Co.; Burberry Group plc; Capri Holdings Limited; The Gap, Inc.; Guess?, Inc.; Hanesbrands Inc.; Kontoor Brands; Levi Strauss & Co.; Lululemon Athletica, Inc.; PVH Corp.; Ralph Lauren Corporation; Tapestry, Inc.; Under Armour Inc.; Urban Outfitters, Inc; and Victoria’s Secret & Co. (collectively, the “2024 Peer Group”). Chico’s FAS, Inc. was removed for 2024 as they were taken private and ceased trading as a public company in January 2024. Express, Inc. is included through April 2024, when the company filed for Chapter 11 bankruptcy.
 
 
COMPENSATION TABLES AND RELATED INFORMATION
 
 
TSR for both the Company and the Peer Group is based on an initial $100 investment, measured on a cumulative basis from the market close on February 1, 2020, through and including the end of the fiscal year for which TSR is being presented in the table. TSR calculations reflect reinvestment of dividends. Historical stock performance is not necessarily indicative of future stock performance.
 
 
For Fiscal 2023, our peer group consisted of the following companies: Abercrombie & Fitch Co.; Burberry Group plc; Capri Holdings Limited; Chico’s FAS, Inc.; Express, Inc.; The Gap, Inc.; Guess?, Inc.; Hanesbrands Inc.; Kontoor Brands; Levi Strauss & Co.; Lululemon Athletica, Inc.; PVH Corp.; Ralph Lauren Corporation; Tapestry, Inc.; Under Armour Inc.; Urban Outfitters, Inc; and Victoria’s Secret & Co. (collectively, the “2023 Peer Group”).
 
 
For comparison, the table below lists the value of $100 invested in the peer group with (2023 Peer Group) and without (2024 Peer Group) Chico’s FAS, Inc. Additionally, Express, Inc. is excluded in the 2024 TSR calculation beginning after April 2024 due to bankruptcy.
 
Fiscal Year
   
2023 Peer Group
   
2024 Peer Group
     
 
2024
        $153.49        $153.49    
 
 
 
2023
        $139.94        $139.67    
 
 
 
2022
        $119.10        $119.08    
 
 
 
2021
        $121.97        $122.01    
 
 
 
2020
        $113.91        $114.15    
 
 
 
 
 
 
        
PEO Total Compensation Amount $ 14,980,527 $ 16,793,219 $ 9,776,540 $ 14,875,447 $ 14,784,288
PEO Actually Paid Compensation Amount $ 3,597,586 24,307,437 1,499,742 15,274,358 29,296,913
Adjustment To PEO Compensation, Footnote
(3)
CAP reflects the exclusions and inclusions of certain amounts for the PEO and the
Non-PEO NEOs
as set forth below. Equity values are calculated in accordance with ASC 718. Amounts in the “Exclusion of Stock Awards and Option Awards for PEO” column are based on the amounts set forth in the “Stock Awards” and “Option Awards” columns included in the SCT for the applicable fiscal year. Amounts in the “Average Exclusion of Stock Awards and Option Awards
for Non-PEO NEOs”
column are based on average amounts set forth in “Stock Awards” and “Option Awards” columns included in the SCT for the applicable fiscal year. Amounts for the
varying non-PEO NEOs
serving during Fiscal 2023, Fiscal 2022, Fiscal 2021 and Fiscal 2020 are based on the SCT included in our proxy statement for the respective fiscal year.
PEO SCT Total Compensation to CAP Reconciliation
  
Fiscal Year
   
Summary Compensation
Table Total for PEO
($)
     
Exclusion of Stock
Awards and Option
Awards for PEO
($)
     
Inclusion of Equity
Values for PEO
($)
     
Compensation Actually
Paid to PEO
($)
  
2024
      $14,980,527        $(9,500,024)        $(1,882,917)        $3,597,586  
 
            
Average
Non-PEO
NEOs SCT Total Compensation to CAP Reconciliation
  
Fiscal Year
   
Average Summary
Compensation Table
Total for Non-PEO NEOs

($)
     
Average Exclusion of
Stock Awards and
Option Awards for
Non-PEO
NEOs
($)
     
Average Inclusion of
Equity Values for
Non-PEO
NEOs
($)
     
Average Compensation
Actually Paid to
Non-PEO
NEOs
($)
  
2024
      $4,984,643        $(2,581,674)        $(460,838)        $1,942,131  
The amounts in the “Inclusion of Equity
Values
for PEO” and “Average
Inclusion
of Equity Values for
Non-PEO
NEOs” columns of the tables above are derived from the amounts set forth in the following tables:
 
Fiscal Year
  
Fiscal
Year-End Fair

Value of Equity
Awards

Granted During
Fiscal Year
That Remained
Unvested as of
Last Day of
Fiscal Year for
PEO
($)
  
plus,
Change in Fair
Value from Last
Day of Prior
Fiscal Year to
Last Day of
Fiscal Year of
Unvested
Equity Awards
for PEO
($)
  
plus,
Vesting-Date
Fair Value of
Equity Awards
Granted During
Year that
Vested During
Fiscal Year for
PEO
($)
  
plus,
Change in Fair
Value 
from Last
Day of Prior
Fiscal Year to
Vesting Date of
Unvested
Equity Awards
that Vested
During Fiscal
Year for PEO
($)
  
plus,
Fair Value at
Last Day of
Prior Fiscal
Year of Equity
Awards
Forfeited During
Fiscal Year for
PEO
($)
  
plus,
Value of
Dividends or
Other Earnings
Paid on Stock
or Option
Awards Not
Otherwise
Included for
PEO
($)
  
Total -
Inclusion of
Equity Values
for PEO
($)
2024
   $4,225,906   $(5,654,655)   —   $(454,168)   —   —   $(1,882,917)
        
Non-PEO NEO Average Total Compensation Amount $ 4,984,643 5,932,748 3,080,683 5,334,752 4,920,732
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,942,131 8,206,623 726,957 5,623,793 9,134,036
Adjustment to Non-PEO NEO Compensation Footnote
(3)
CAP reflects the exclusions and inclusions of certain amounts for the PEO and the
Non-PEO NEOs
as set forth below. Equity values are calculated in accordance with ASC 718. Amounts in the “Exclusion of Stock Awards and Option Awards for PEO” column are based on the amounts set forth in the “Stock Awards” and “Option Awards” columns included in the SCT for the applicable fiscal year. Amounts in the “Average Exclusion of Stock Awards and Option Awards
for Non-PEO NEOs”
column are based on average amounts set forth in “Stock Awards” and “Option Awards” columns included in the SCT for the applicable fiscal year. Amounts for the
varying non-PEO NEOs
serving during Fiscal 2023, Fiscal 2022, Fiscal 2021 and Fiscal 2020 are based on the SCT included in our proxy statement for the respective fiscal year.
PEO SCT Total Compensation to CAP Reconciliation
  
Fiscal Year
   
Summary Compensation
Table Total for PEO
($)
     
Exclusion of Stock
Awards and Option
Awards for PEO
($)
     
Inclusion of Equity
Values for PEO
($)
     
Compensation Actually
Paid to PEO
($)
  
2024
      $14,980,527        $(9,500,024)        $(1,882,917)        $3,597,586  
 
            
Average
Non-PEO
NEOs SCT Total Compensation to CAP Reconciliation
  
Fiscal Year
   
Average Summary
Compensation Table
Total for Non-PEO NEOs

($)
     
Average Exclusion of
Stock Awards and
Option Awards for
Non-PEO
NEOs
($)
     
Average Inclusion of
Equity Values for
Non-PEO
NEOs
($)
     
Average Compensation
Actually Paid to
Non-PEO
NEOs
($)
  
2024
      $4,984,643        $(2,581,674)        $(460,838)        $1,942,131  
The amounts in the “Inclusion of Equity
Values
for PEO” and “Average
Inclusion
of Equity Values for
Non-PEO
NEOs” columns of the tables above are derived from the amounts set forth in the following tables:
 
 
Fiscal Year
  
Average
Year-End
Fair
Value of Equity
Awards
Granted During
Fiscal Year
That Remained
Unvested as of
Last Day of
Fiscal Year for
Non-PEO

NEOs
($)
  
plus,
Average
Change in Fair
Value from Last
Day of Prior
Fiscal Year to
Last Day of
Fiscal Year of
Unvested
Equity Awards
for
Non-PEO

NEOs
($)
  
plus,
Average
Vesting-Date
Fair Value of
Equity Awards
Granted During
Fiscal Year that
Vested During
Fiscal Year for
Non-PEO
NEOs
($)
  
plus,
Average
Change in Fair
Value from Last
Day of Prior
Fiscal Year to
Vesting Date of
Unvested
Equity Awards
that Vested
During Fiscal
Year for Non-
PEO NEOs
($)
  
plus,
Average Fair
Value at Last
Day of Prior
Fiscal Year of
Equity Awards
Forfeited During
Fiscal Year for
Non-PEO
NEOs
($)
  
plus,
Average Value
of Dividends or
Other Earnings
Paid on Stock
or Option
Awards Not
Otherwise
Included for
Non-PEO
NEOs
($)
  
Total - Average
Inclusion of
Equity Values
for
Non-PEO

NEOs
($)
2024
   $1,148,409   $(1,487,316)   —    $(121,931)   —    —    $(460,838)
        
Compensation Actually Paid vs. Total Shareholder Return
CAP versus Total Shareholder Return: Company and Peer Group
The following chart sets forth the relationship between CAP to PEO, Average CAP to
Non-PEO
NEOs, the Company’s cumulative TSR, and the cumulative TSR of our Peer Group over the five most recently completed fiscal years.
As illustrated in the chart, the trend of the Company’s TSR over the five-year period of Fiscal 2020 through Fiscal 2024 generally aligns with the trend of CAP values for our PEO and
Non-PEO
NEOs over this same period. Our compensation program design emphasizes structuring a significant portion of NEO compensation in the form of
at-risk
or variable equity incentives tied to our stock price and TSR performance, as described in the CD&A section of this Proxy Statement.
The Company’s PSU awards, which represent 50% of the value of the NEOs’ annual long-term incentive awards, are designed with a vesting factor tied to three-year TSR performance measured against RTSR goals that are tied to the Peer Group. These
TSR-based
performance measures provide for an increased award payout opportunity in the event of certain Company TSR out performance against
pre-established
goals and, alternatively, a decreased award payout opportunity in the event of underperformance against these RTSR goals.
 
LOGO
       
Compensation Actually Paid vs. Net Income
CAP versus Net Income (Loss)
SEC rules require that net income be presented as a performance measure in the Pay Versus Performance Table above. The Company does not use net income (loss) to determine compensation levels or incentive plan
payouts
, and therefore there was not total alignment between CAP and net income (loss).
Specifically, CAP is not aligned with performance of net loss as a financial performance measure for Fiscal 2020. While the Company reported net income of $329 million, $170 million, $125 million and $420 million for Fiscal 2024, Fiscal 2023, Fiscal 2022 and Fiscal 2021, respectively, the Company reported a net loss of $209 million for Fiscal 2020. Fiscal 2020 CAP is significantly higher than CAP for Fiscal 2021, Fiscal 2022 and Fiscal 2024 primarily due to the Company’s stock price at January 30, 2021, versus the Company’s stock price on the grant dates of our Fiscal 2020 equity awards (i.e., versus March 26, 2020 and June 4, 2020), and the resulting increase in fair value of these awards.
 
        
Compensation Actually Paid vs. Company Selected Measure
CAP versus CSM: EBIT
The following chart sets forth the relationship between CAP to PEO, Average CAP to
Non-PEO
NEOs, and our CSM, EBIT
(1)
, during the five most recently completed fiscal years.
Aside from our stock price performance, we believe that EBIT
(1)
is the most important financial metric that ties our NEOs’ compensation to our performance. Our year-over-year CAP outcomes do not always align
proportionally
with the year-over-year EBIT
(1)
outcomes because a significant portion of the sensitivity to our NEOs’ CAP is tied to our stock price. As such, in addition to EBIT
(1),
we expect that stock price will continue to have a significant impact on CAP.
 
 
LOGO
       
Total Shareholder Return Vs Peer Group
CAP versus Total Shareholder Return: Company and Peer Group
The following chart sets forth the relationship between CAP to PEO, Average CAP to
Non-PEO
NEOs, the Company’s cumulative TSR, and the cumulative TSR of our Peer Group over the five most recently completed fiscal years.
As illustrated in the chart, the trend of the Company’s TSR over the five-year period of Fiscal 2020 through Fiscal 2024 generally aligns with the trend of CAP values for our PEO and
Non-PEO
NEOs over this same period. Our compensation program design emphasizes structuring a significant portion of NEO compensation in the form of
at-risk
or variable equity incentives tied to our stock price and TSR performance, as described in the CD&A section of this Proxy Statement.
The Company’s PSU awards, which represent 50% of the value of the NEOs’ annual long-term incentive awards, are designed with a vesting factor tied to three-year TSR performance measured against RTSR goals that are tied to the Peer Group. These
TSR-based
performance measures provide for an increased award payout opportunity in the event of certain Company TSR out performance against
pre-established
goals and, alternatively, a decreased award payout opportunity in the event of underperformance against these RTSR goals.
 
LOGO
       
Tabular List, Table
Important Financial Performance Measures
 
The following table sets forth an unranked list of the most important financial performance measures, including the CSM, used by the Company to link CAP (for all NEOs) to Company performance for Fiscal 2024.
 
 
Absolute TSR
 
EBIT
(1)
 
Relative TSR
 
(1)
 
EBIT is a
non-GAAP
or adjusted measure. EBIT represents operating income, as reported in our consolidated financial statements, before interest expense and income taxes and excludes any asset impairment and restructuring charges, as determined by the Compensation Committee. See Appendix A of this Proxy Statement for additional detail on adjusted results and other important information regarding the use of
non-GAAP
or adjusted measures.
       
Total Shareholder Return Amount $ 125 156.8 115 160.4 158.7
Peer Group Total Shareholder Return Amount 153.5 139.7 119.1 122 114.2
Net Income (Loss) $ 329,000,000 $ 170,000,000 $ 125,000,000 $ 420,000,000 $ (209,000,000)
Company Selected Measure Amount 452,000,000 386,000,000 280,000,000 617,000,000 12,000,000
PEO Name Jay Schottenstein        
Measure:: 1          
Pay vs Performance Disclosure          
Name Absolute TSR        
Measure:: 2          
Pay vs Performance Disclosure          
Name EBIT        
Non-GAAP Measure Description EBIT is a
non-GAAP
or adjusted measure. EBIT represents net income, as reported in our consolidated financial statements, before interest expense and income taxes and excludes any asset impairment and restructuring charges, as determined by the Compensation Committee. See Appendix A of this Proxy Statement for additional detail on adjusted results and other important information regarding the use of
non-GAAP
or adjusted measures. We have identified EBIT as our Company-Selected Measure (“CSM”) that represents, in our view, the most important financial performance measure used to link CAP to our performance for Fiscal 2024. 		       
Measure:: 3          
Pay vs Performance Disclosure          
Name Relative TSR        
PEO | Equity Awards Adjustments          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (1,882,917)        
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 4,225,906        
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (5,654,655)        
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (454,168)        
PEO | Stock Awards and Option Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (9,500,024)        
Non-PEO NEO | Equity Awards Adjustments          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (460,838)        
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,148,409        
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (1,487,316)        
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (121,931)        
Non-PEO NEO | Stock Awards and Option Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (2,581,674)