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Share-Based Compensation (Tables)

12 Months Ended

Feb. 01, 2025

Share-Based Payment Arrangement [Abstract]

Stock Option Activity Under Stock Option Plan

The following table summarizes our stock option activity for fiscal year 2024:

			Stock Options						Grant Date Weighted Average Exercise Price						Weighted Average Remaining Contractual Life (in Years)						Aggregate Intrinsic Value (1)
																					($ in thousands)
Outstanding at February 3, 2024			2,447,247						$	8.34
Granted			601,000						$	6.34
Exercised			(71,066)						$	4.13
Forfeited			(389,875)						$	6.69
Expired			(486,411)						$	10.18
Outstanding at February 1, 2025			2,100,895						$	7.79					6.8						$	93
Exercisable at February 1, 2025			1,069,645						$	8.56					5.0						$	51

 

(1)Intrinsic value for stock options is defined as the difference between the market price of our Class A common stock on the last business day of the fiscal year and the weighted average exercise price of in-the-money stock options outstanding at the end of each fiscal period. The market value per share was $4.33 at February 1, 2025.

Assumptions Used to Estimate Fair Value of Stock Options Granted

The fair values of stock options granted in fiscal years 2024, 2023 and 2022 were estimated on the grant dates using the following assumptions:

			Fiscal Year Ended
			February 1, 2025						February 3, 2024						January 28, 2023
Weighted average grant-date fair value per option granted			$3.45						$3.52						$4.94
Expected option term (1)			5.6 years						5.5 years						5.2 years
Expected volatility factor (2)			54.9		%				56.3		%				58.6		%
Risk-free interest rate (3)			4.3		%				4.0		%				2.4		%
Expected annual dividend yield (4)			—		%				—		%				—		%

 

(1)The expected option term of the awards represents the estimated time that options are expected to be outstanding based upon historical option data.

(2)Stock volatility for each grant is measured using the weighted average of historical daily price changes of our common stock over the most recent period equal to the expected option term of the awards.

(3)The risk-free interest rate is determined using the rate on treasury securities with the same term as the expected life of the stock option as of the grant date.

(4)We do not have a dividend policy and we do not anticipate paying any additional cash dividends on our common stock at this time.

Summary of Status of Non-Vested Restricted Stock

A summary of the status of non-vested restricted stock as of February 1, 2025 and changes during fiscal year 2024 are presented below:

			Shares						Weighted- Average Grant-Date Fair Value
Nonvested at February 3, 2024			87,525						$	6.86
Granted			61,184						$	5.23
Vested			(56,990)						$	7.02
Nonvested at February 1, 2025			91,719						$	5.67

Schedule of Stock Based Compensation

The following table summarizes share-based compensation recorded in the accompanying Consolidated Statements of Operations (in thousands):

			Fiscal Year Ended
			February 1, 2025						February 3, 2024						January 28, 2023
Cost of goods sold			$	335					$	295					$	269
Selling, general and administrative expenses			1,722						1,923						1,998
Total share-based compensation			2,057						2,218						2,267
Less: Income tax benefit			—						—						(496)
Total share-based compensation, net of tax			$	2,057					$	2,218					$	1,771

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