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Share-Based Compensation (Tables)
3 Months Ended
May 04, 2024
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]
The following table provides share-based compensation expense and the related income tax impacts for the thirteen weeks ended May 4, 2024 and April 29, 2023:
Thirteen Weeks Ended
(in thousands)May 4, 2024April 29, 2023
Share-based compensation expense$11,363 $8,088 
Income tax benefits associated with share-based compensation expense recognized
1,278 1,005 
Share-based Payment Arrangement, Discrete Tax Benefit (Charge) [Table Text Block]
The following table provides discrete income tax benefits and charges related to share-based compensation awards during the thirteen weeks ended May 4, 2024 and April 29, 2023:
Thirteen Weeks Ended
(in thousands)May 4, 2024April 29, 2023
Income tax discrete benefits realized for tax deductions related to the issuance of shares
$14,554 $1,117 
Income tax discrete charges realized upon cancellation of stock appreciation rights— (101)
Total income tax discrete benefits related to share-based compensation awards
$14,554 $1,016 
Employee tax withheld by company for share-based compensation
The following table provides the amount of employee tax withheld by the Company upon the issuance of shares associated with restricted stock units vesting and the exercise of stock appreciation rights for the thirteen weeks ended May 4, 2024 and April 29, 2023:
Thirteen Weeks Ended
(in thousands)May 4, 2024April 29, 2023
Employee tax withheld upon issuance of shares (1)
$65,173 $18,359 
(1)    Classified within financing activities on the Condensed Consolidated Statements of Cash Flows.
Schedule of Restricted Stock Unit Activity
The following table provides the summarized activity for restricted stock units for the thirteen weeks ended May 4, 2024:
Service-based Restricted
Stock Units
Performance-based Restricted
Stock Units
Market-based Restricted
Stock Units
Number of 
Underlying
Shares
Weighted-
Average Grant
Date Fair Value
Number of 
Underlying
Shares
Weighted-
Average Grant
Date Fair Value
Number of 
Underlying
Shares
Weighted-
Average Grant
Date Fair Value
Unvested at February 3, 20241,886,085 $27.12 521,212 $30.03 260,619 $43.90 
Granted226,209 120.49 53,775 120.56 26,895 180.71 
Adjustments for performance achievement
— — 150,446 32.10 75,227 50.34 
Vested(757,301)24.37 (300,892)32.10 (150,454)50.34 
Forfeited(40,864)30.95 — — — — 
Unvested at May 4, 2024 (1)
1,314,129 $44.71 424,541 $40.76 212,287 $58.95 
(1)    Unvested shares related to restricted stock units with performance-based and market-based vesting conditions are reflected at 100% of their target vesting amount in the table above. Unvested shares related to restricted stock units with performance-based and market-based vesting conditions can be achieved from zero up to 200% of their target vesting amount.
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award
The following table provides the unrecognized compensation cost and the remaining weighted-average period over which these costs are expected to be recognized for restricted stock units as of May 4, 2024:
Service-based Restricted
Stock Units
Performance-based Restricted
Stock Units
Market-based Restricted
Stock Units
Unrecognized compensation cost (in thousands)
$53,083 $20,866 $8,037 
Remaining weighted-average period cost is expected to be recognized (years)1.51.61.6
Schedule of Stock Appreciation Rights Activity
The following table provides the summarized stock appreciation rights activity for the thirteen weeks ended May 4, 2024:
Number of
Underlying
Shares
Weighted-Average
Exercise Price
Aggregate
Intrinsic Value
 (in thousands)
Weighted-Average
Remaining
Contractual Life (years)
Outstanding at February 3, 202425,600 $29.29 
Exercised(25,600)29.29 
Forfeited or expired— — 
Outstanding at May 4, 2024
— $— $— 0.0
Stock appreciation rights exercisable at May 4, 2024— $— $— 0.0

The following table provides additional information pertaining to stock appreciation rights exercised during the thirteen weeks ended May 4, 2024 and April 29, 2023:
(in thousands)May 4, 2024April 29, 2023
Total grant date fair value of awards exercised$267 $64 
Market-based restricted stock units [Member]  
Schedule of Weighted-Average Estimated Fair Value and Assumptions of Restricted Stock Units with Market Vesting Conditions additional information pertaining to restricted stock units for the thirteen weeks ended May 4, 2024 and April 29, 2023:
Thirteen Weeks Ended
(in thousands)May 4, 2024April 29, 2023
Service-based restricted stock units:
Total grant date fair value of awards granted$27,256 $23,842 
Total grant date fair value of awards vested18,455 15,560 
Performance-based restricted stock units:
Total grant date fair value of awards granted6,483 6,300 
Total grant date fair value of awards vested9,659 — 
Market-based restricted stock units:
Total grant date fair value of awards granted4,860 4,576 
Total grant date fair value of awards vested7,574 16,040 
The following table provides the weighted-average assumptions used for market-based restricted stock units in the Monte Carlo simulation during the thirteen weeks ended May 4, 2024 and April 29, 2023:
Thirteen Weeks Ended
May 4, 2024April 29, 2023
Grant date market price$120.56 $28.36 
Fair value180.71 41.20 
Price volatility59 %63 %
Expected term (years)2.92.9
Risk-free interest rate4.3 %4.6 %
Dividend yield— — 
Average volatility of peer companies51.8 66.0 
Average correlation coefficient of peer companies0.48660.5295