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Share-Based Compensation | 6 Months Ended
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Aug. 02, 2025
Share-Based Compensation |
Share-Based Compensation | Note 12 Share-Based Compensation The Company recognized share-based compensation expense of $4.1 million and $4.2 million during the thirteen weeks and $6.9 million and $7.9 million during the twenty-six weeks ended August 2, 2025 and August 3, 2024, respectively. The Company had net issuances of 30,000 and 463 shares of common stock during the thirteen weeks ended August 2, 2025 and August 3, 2024, respectively, for restricted stock grants, stock performance awards issued to employees and common and restricted stock grants issued to non-employee directors, net of forfeitures and shares withheld to satisfy the tax withholding requirement. During the twenty-six weeks ended August 2, 2025 and August 3, 2024, the Company had net issuances of 513,778 and 61,851 shares of common stock, respectively, related to share-based plans. Restricted Stock The following table summarizes restricted stock activity for the periods ended August 2, 2025 and August 3, 2024: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Thirteen Weeks Ended | ​ | ​ | ​ | ​ | Thirteen Weeks Ended
​ | ​ | August 2, 2025 | ​ | ​ | ​ | ​ | August 3, 2024
​ | ​ | ​ | ​ | ​ | Weighted- | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted-
​ | ​ | Total Number | ​ | ​ | Average | ​ | ​ | ​ | ​ | Total Number | ​ | ​ | Average
​ | ​ | of Restricted | ​ | ​ | Grant Date | ​ | ​ | ​ | ​ | of Restricted | ​ | ​ | Grant Date
​ |  | Shares |  | ​ | Fair Value |  |  | ​ |  | Shares |  | ​ | Fair Value
Nonvested at May 3, 2025 | ​ | 1,354,064 | ​ | $ | 23.88 | ​ | ​ | Nonvested at May 4, 2024 | ​ | 1,296,085 | ​ | $ | 27.12
Granted | ​ | 50,852 | ​ | ​ | 13.19 | ​ | ​ | Granted | ​ | 16,812 | ​ | ​ | 35.06
Forfeited | ​ | (16,300) | ​ | ​ | 23.97 | ​ | ​ | Forfeited | ​ | (10,007) | ​ | ​ | 28.82
Vested |  | (50,670) |  | ​ | 26.25 |  | ​ | Vested |  | (62,615) |  | ​ | 23.67
Nonvested at August 2, 2025 |  | 1,337,946 | ​ | $ | 23.38 | ​ | ​ | Nonvested at August 3, 2024 |  | 1,240,275 | ​ | $ | 27.48
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Twenty-Six Weeks Ended | ​ | ​ | ​ | ​ | Twenty-Six Weeks Ended
​ | ​ | August 2, 2025 | ​ | ​ | ​ | ​ | August 3, 2024
​ | ​ | ​ | ​ | ​ | Weighted- | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted-
​ | ​ | Total Number | ​ | ​ | Average | ​ | ​ | ​ | ​ | Total Number | ​ | ​ | Average
​ | ​ | of Restricted | ​ | ​ | Grant Date | ​ | ​ | ​ | ​ | of Restricted | ​ | ​ | Grant Date
​ |  | Shares |  | ​ | Fair Value |  |  | ​ |  | Shares |  | ​ | Fair Value
Nonvested at February 2, 2025 | ​ | 1,141,319 | ​ | $ | 27.60 | ​ | ​ | Nonvested at February 3, 2024 | ​ | 1,512,421 | ​ | $ | 21.96
Granted | ​ | 798,915 | ​ | ​ | 16.93 | ​ | ​ | Granted | ​ | 320,097 | ​ | ​ | 40.74
Forfeited | ​ | (87,629) | ​ | ​ | 24.81 | ​ | ​ | Forfeited | ​ | (49,359) | ​ | ​ | 24.30
Vested |  | (514,659) |  | ​ | 22.47 |  | ​ | Vested |  | (542,884) |  | ​ | 20.42
Nonvested at August 2, 2025 |  | 1,337,946 | ​ | $ | 23.38 | ​ | ​ | Nonvested at August 3, 2024 |  | 1,240,275 | ​ | $ | 27.48
​ The Company granted 50,852 and 798,915 restricted shares during the thirteen and twenty-six weeks ended August 2, 2025, respectively, which have a graded vesting term of three years, with 50% vesting after two years and 50% after three years. Of the 16,812 restricted shares the Company granted during the thirteen weeks ended August 3, 2024, 13,692 shares have a cliff-vesting term of one year and 3,120 shares have a graded vesting term of three years, with 50% vesting after two years and 50% after three years. Of the 320,097 restricted shares the Company granted during the twenty-six weeks ended August 3, 2024, 13,692 have a cliff-vesting term of one year and 306,405 shares have a graded vesting term of three years, with 50% vesting after two years and 50% vesting after three years. Performance Awards The Company granted no performance share awards during the twenty-six weeks ended August 2, 2025. During the twenty-six weeks ended August 3, 2024, the Company granted performance share awards for a targeted 165,854 shares, with a weighted-average grant date fair value of $41.05 in connection with the 2024 performance award (2024 – 2026 performance period). At the end of the vesting period, the employee will have earned an amount of shares or units between 0% and 200% of the targeted award, depending on the attainment of certain financial goals for the service period and individual achievement of strategic initiatives over the cumulative period of the award. The performance awards are payable in common stock for up to 100% of the targeted award and the remainder in cash if any portion exceeds the targeted award. Compensation expense is recognized based on the fair value of the award and the anticipated number of shares or units to be awarded for each tranche in accordance with the vesting schedule of the units over the three-year service period. During the twenty-six weeks ended August 2, 2025, the Company granted long-term incentive awards payable in cash for the 2025-2027 performance period, with a target value of $6.7 million and a maximum value of $13.4 million. This award, which vests after a three-year period, is dependent upon the attainment of certain financial goals of the Company for each of the three years and individual achievement of strategic initiatives over the cumulative period of the award. The estimated value of this award, which is reflected within other liabilities on the consolidated balance sheet as of August 2, 2025, is being accrued over the three-year performance period. Restricted Stock Units for Non-Employee Directors Equity-based grants may be made to non-employee directors in the form of restricted stock units ("RSUs") payable in cash or common stock at no cost to the non-employee director. The RSUs are subject to a vesting requirement (usually one year) and earn dividend equivalents at the same rate as dividends on the Company’s common stock. The dividend equivalents, which vest immediately, are automatically reinvested in additional RSUs. Expense related to the initial grant of RSUs is recognized ratably over the vesting period based upon the fair value of the RSUs. The RSUs payable in cash are remeasured at the end of each period. Expense for the dividend equivalents is recognized at fair value when the dividend equivalents are granted. Gains and losses resulting from changes in the fair value of the RSUs payable in cash subsequent to the vesting period and through the settlement date are recognized in the Company’s condensed consolidated statements of earnings. The Company granted 75,035 and 28,444 RSUs to non-employee directors, including 2,249 and 1,060 RSUs for dividend equivalents, during the thirteen weeks ended August 2, 2025 and August 3, 2024, respectively, with weighted-average grant date fair values of $13.18 and $35.01, respectively. The Company granted 76,920 and 29,323 RSUs to non-employee directors, including 4,134 and 1,939 for dividend equivalents, during the twenty-six weeks ended August 2, 2025 and August 3, 2024, respectively, with weighted-average grant date fair values of $13.24 and $35.03, respectively.

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