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Related Party Transactions
12 Months Ended
Jan. 28, 2023
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
Norman Ferber was considered a related party in fiscal 2021 and 2020 while serving as a member of the Board of Directors. Mr. Ferber completed his service on the Board of Directors during fiscal 2021 and is no longer considered a related party for fiscal 2022.

The Company paid Mr. Ferber $1.8 million and $2.1 million in fiscal 2021 and 2020, respectively, in consulting fees for his additional role as a strategic advisor. Under the terms of Mr. Ferbers consulting agreement in effect during fiscal 2021 and 2020, he was paid an annual fee of $2.3 million from May 31, 2020 through May 31, 2021 and $1.6 million from June 1, 2021 through May 31, 2022. In addition, the consulting agreement provides for administrative support and health and other benefits for Mr. Ferber and his dependents, which totaled approximately $0.4 million in both fiscal 2021 and 2020, along with amounts to cover premiums through May 2022 on a life insurance policy with a death benefit of $2.0 million. On termination of Mr. Ferber’s consultancy with the Company, the Company will pay Mr. Ferber $75,000 per year for a period of 10 years.

Mr. Ferber’s son, Robert Ferber, is a Vice President, Divisional Merchandise Manager with the Company. The Company paid Robert Ferber compensation including salary and bonus of approximately $254,000 and $248,000 in fiscal 2021 and 2020, respectively.