Stock Repurchase Programs

3 Months Ended

May 02, 2020

Schedule of Share Repurchase Program Activity [Abstract]

Stock Repurchase Programs

Stock Repurchase Program

In March 2018, the Company's Board of Directors authorized the Company to repurchase up to $500 million of the Company’s Class A Common Stock pursuant to an open-ended stock repurchase plan (the "March 2018 Plan"). The March 2018 Plan authorization permits the Company to repurchase its Class A Common Stock in the open market, pursuant to preset trading plans meeting the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934 or through privately negotiated transactions.  The March 2018 plan has no expiration date.

The following is a summary of share repurchase activity for the periods indicated (in thousands, except per share data):

	Three Months Ended
	May 2, 2020		May 4, 2019
Cost of shares repurchased	$	61,829	$	17,440
Number of shares repurchased	999		246
Average price per share	$	61.91	$	70.85

All repurchases of the Company’s Class A Common Stock above were made at the market price at the trade date.  Accordingly, all amounts paid to reacquire these shares were allocated to treasury stock. As of May 2, 2020, $206.9 million of authorization remained under the March 2018 Plan.