Share Repurchase Program

12 Months Ended

Jan. 28, 2017

Equity [Abstract]

Share Repurchase Program

Share Repurchase Program

On June 26, 2012, the Company’s Board of Directors authorized a program to repurchase, from time-to-time and as market and business conditions warrant, up to $500 million of the Company’s common stock. Repurchases under the program may be made on the open market or in privately negotiated transactions, pursuant to Rule 10b5-1 trading plans or other available means. There is no minimum or maximum number of shares to be repurchased under the program, which may be discontinued at any time, without prior notice. During fiscal 2017, the Company repurchased 289,968 shares under the program at an aggregate cost of $3.5 million. During fiscal 2016 the Company repurchased 2,000,000 shares under the program at an aggregate cost of $44.0 million. There were no share repurchases during fiscal 2015. As of January 28, 2017, the Company had remaining authority under the program to purchase $448.3 million of its common stock.