STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Apr. 30, 2023

Share-Based Payment Arrangement [Abstract]

Table Of Weighted Average Black Scholes Fair Value Assumptions [Table Text Block]

The following summarizes the assumptions used to estimate the fair value of stock options granted during the thirteen weeks ended April 30, 2023 and May 1, 2022 and the resulting weighted average grant date fair value per stock option:

	4/30/23			5/1/22
Weighted average risk-free interest rate	3.33		%	2.50		%
Weighted average expected stock option term (in years)	6.25			6.25
Weighted average Company volatility	50.60		%	47.34		%
Expected annual dividends per share	$	0.15		$	0.15
Weighted average grant date fair value per stock option	$	43.47		$	34.27

The risk-free interest rate is based on United States Treasury yields in effect at the date of grant for periods corresponding to the expected stock option term. The expected stock option term represents the weighted average period of time that stock options granted are expected to be outstanding, based on vesting schedules and the contractual term of the stock options. Company volatility is based on the historical volatility of the Company’s common stock over a period of time corresponding to the expected stock option term. Expected dividends are based on the anticipated common stock cash dividend rate for the Company at the time of grant.

The Company has continued to utilize the simplified method to estimate the expected term for its “plain vanilla” stock options granted due to a lack of relevant historical data resulting, in part, from changes in the pool of employees receiving stock option grants. The Company will continue to evaluate the appropriateness of utilizing such method.

Share-based Payment Arrangement, Option, Activity [Table Text Block]

Stock option activity for the thirteen weeks ended April 30, 2023 was as follows:

(In thousands, except per stock option data)	Stock Options	Weighted Average Exercise Price Per Stock Option
Outstanding at January 29, 2023	694	$	98.08
Granted	86	83.80
Exercised	—	—
Forfeited / Expired	3	104.30
Outstanding at April 30, 2023	777	$	96.47
Exercisable at April 30, 2023	534	$	104.72

Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]

RSU activity for the thirteen weeks ended April 30, 2023 was as follows:

(In thousands, except per RSU data)	RSUs	Weighted Average Grant Date Fair Value Per RSU
Non-vested at January 29, 2023	1,325	$	77.33
Granted	579	83.91
Vested	157	84.66
Forfeited	21	79.15
Non-vested at April 30, 2023	1,726	$	78.85

Table of Weighted Average Monte Carlo Fair Value Assumptions Performance Awards [Table Text Block]

The following summarizes the assumptions used to estimate the fair value of PSUs subject to market conditions that were granted during the thirteen weeks ended April 30, 2023 and the resulting weighted average grant date fair value:

	4/30/23
Weighted average risk-free interest rate	3.56		%
Weighted average Company volatility	58.21		%
Expected annual dividends per share	$	0.15
Weighted average grant date fair value per PSU	$	120.42

The risk-free interest rate is based on United States Treasury yields in effect at the date of grant for the term corresponding to the three-year performance period. Company volatility is based on the historical volatility of the Company’s common stock over a period of time corresponding to the three-year performance period. Expected dividends are based on the anticipated common stock cash dividend rate for the Company at the time of grant.

For certain of the awards granted, the after-tax portion of the award is subject to a holding period of one year after the vesting date. For these awards, the grant date fair value was discounted 7.40% in 2023 for the restriction of liquidity, which was calculated using the Finnerty model.

Schedule of Nonvested Performance-based Units Activity [Table Text Block]

Total PSU activity for the thirteen weeks ended April 30, 2023 was as follows:

(In thousands, except per PSU data)	PSUs	Weighted Average Grant Date Fair Value Per PSU
Non-vested at January 29, 2023	244	$	84.40
Granted	122	100.44
Change due to market conditions achieved above target	35	58.35
Vested	102	58.35
Forfeited	—	—
Non-vested at April 30, 2023	299	$	96.81