Stock Repurchase Activity

3 Months Ended

May 01, 2021

Treasury Stock Transactions, Excluding Value of Shares Reissued [Abstract]

Stock Repurchase Activity

Stock Repurchase Activity

In November 2018, the Board of Directors ("Board") authorized the extension of our Stock Repurchase Program ("Program") in the amount of $300.0 million to repurchase our common stock through January 29, 2022. The Program authorizes repurchases of our common stock in open market or negotiated transactions, with the amount and timing of repurchases dependent on market conditions and at the discretion of our management. In addition to the Program, we also acquire shares of our common stock from holders of restricted stock unit awards to satisfy tax withholding requirements due at vesting. Shares acquired from holders of restricted stock unit awards to satisfy tax withholding requirements do not reduce the Program authorization.

During the 13-weeks ended May 1, 2021, we repurchased 541,283 shares of our common stock under the Program at an aggregate cost of $37.3 million and acquired 41,120 shares from holders of restricted stock unit awards to satisfy tax withholding requirements of $2.8 million. During the 13-weeks ended May 2, 2020, we repurchased 428,018 shares of our common stock at an aggregate cost of $9.7 million under the Program and acquired 30,895 shares from holders of restricted stock unit awards to satisfy tax withholding requirements of $0.4 million.

As of May 1, 2021, we had approximately $99.0 million remaining under the Program for stock repurchases. Subsequent to May 1, 2021, the Program was expanded and extended. See Note 12, Subsequent Events, for additional information.