Annual report pursuant to Section 13 and 15(d)

Share repurchase program

v3.24.1
Share repurchase program
 12 Months Ended
Feb. 03, 2024
Share repurchase program  
Share repurchase program

18.   Share repurchase program

In March 2020, the Board of Directors authorized a share repurchase program (the 2020 Share Repurchase Program) pursuant to which the Company could repurchase up to $1,600,000 of the Company’s common stock. The 2020 Share Repurchase Program authorization revoked the previously authorized but unused amounts from the earlier share repurchase program. The 2020 Share Repurchase Program did not have an expiration date but provided for suspension or discontinuation at any time.

In March 2022, the Board of Directors authorized a share repurchase program (the 2022 Share Repurchase Program) pursuant to which the Company could repurchase up to $2,000,000 of the Company’s common stock. The 2022 Share Repurchase Program revoked the previously authorized but unused amounts from the 2020 Share Repurchase Program. The 2022 Share Repurchase Program did not have an expiration date but provided for suspension or discontinuation at any time.

A summary of common stock repurchase activity is presented in the following table:

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Fiscal year ended

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February 3,

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January 28,

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January 29,

(In thousands)

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2024

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2023

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2022

Shares repurchased

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2,173

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2,193

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4,250

Total cost of shares repurchased

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$

1,009,348

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$

900,033

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$

1,521,925

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