Stock-based compensation (Tables)
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12 Months Ended |
Jan. 31, 2026 |
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| Stock-based compensation |
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| Schedule of information related to stock-based compensation |
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Fiscal Year Ended |
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January 31, |
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February 1, |
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February 3, |
(In thousands) |
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2026 |
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2025 |
|
2024 |
Stock options |
|
$ |
8,089 |
|
$ |
9,188 |
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$ |
7,429 |
Restricted stock units |
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|
21,481 |
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|
19,863 |
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|
19,724 |
Performance-based restricted stock units |
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|
7,856 |
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|
13,736 |
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|
21,093 |
Total stock-based compensation expense |
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$ |
37,426 |
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$ |
42,787 |
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$ |
48,246 |
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Cash received from stock option exercises |
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$ |
32,562 |
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$ |
12,339 |
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$ |
12,176 |
Income tax benefit |
|
$ |
63 |
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$ |
4,891 |
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$ |
7,167 |
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| Schedule of weighted average assumptions to determine grant date fair value of employee stock options |
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Fiscal Year Ended |
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January 31, |
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February 1, |
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February 3, |
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2026 |
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2025 |
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2024 |
Volatility rate |
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34.0% |
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33.0% |
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45.0% |
Average risk-free interest rate |
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3.9% |
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4.4% |
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3.8% |
Average expected life (in years) |
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3.4 |
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3.5 |
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3.4 |
Dividend yield |
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— |
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— |
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— |
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| Information related to common stock options plan |
The following table presents information related to common stock options:
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Fiscal Year Ended |
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January 31, |
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February 1, |
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February 3, |
(In thousands, except weighted-average grant date fair value) |
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2026 |
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2025 |
|
2024 |
Weighted-average grant date fair value |
|
$ |
377.73 |
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$ |
157.66 |
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$ |
199.15 |
Fair value of options vested |
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6,612 |
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|
7,992 |
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|
7,169 |
Intrinsic value of options exercised |
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32,212 |
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12,673 |
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15,509 |
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| Summary of stock option activity |
A summary of stock option activity is presented in the following table (shares in thousands):
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Fiscal 2025 |
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Fiscal 2024 |
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Fiscal 2023 |
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Weighted- |
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Weighted- |
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Weighted- |
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Number of |
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average |
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Number of |
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average |
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Number of |
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average |
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options |
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exercise price |
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options |
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exercise price |
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options |
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|
exercise price |
Beginning of year |
|
299 |
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$ |
349.12 |
|
307 |
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$ |
303.47 |
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324 |
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$ |
260.34 |
Granted |
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144 |
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377.73 |
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56 |
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522.88 |
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42 |
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541.39 |
Exercised |
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(133) |
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245.14 |
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(52) |
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239.61 |
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(54) |
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|
223.59 |
Forfeited/Expired |
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(20) |
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410.76 |
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(12) |
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465.19 |
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(5) |
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|
382.48 |
End of year |
|
290 |
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$ |
405.98 |
|
299 |
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$ |
349.12 |
|
307 |
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$ |
303.47 |
Exercisable at end of year |
|
97 |
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$ |
377.10 |
|
188 |
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$ |
270.15 |
|
154 |
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$ |
264.87 |
Vested and Expected to vest |
|
278 |
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$ |
405.27 |
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292 |
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$ |
345.55 |
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297 |
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$ |
302.05 |
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| Schedule of options outstanding and exercisable based on ranges of exercise prices |
The following table presents information related to stock options outstanding and stock options exercisable at January 31, 2026 based on ranges of exercise prices (shares in thousands):
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Options outstanding |
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Options exercisable |
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Weighted- |
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Weighted- |
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average |
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average |
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remaining |
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remaining |
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contractual |
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Weighted- |
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contractual |
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Weighted- |
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Number of |
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life |
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average |
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Number of |
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life |
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average |
Range of Exercise Prices |
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options |
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(years) |
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exercise price |
|
options |
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(years) |
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exercise price |
$174.45 – $174.45 |
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6 |
|
4 |
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$ |
174.45 |
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6 |
|
4 |
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$ |
174.45 |
$174.46 – $281.53 |
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13 |
|
1 |
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266.31 |
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13 |
|
1 |
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266.31 |
$281.54 – $306.59 |
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18 |
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2 |
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306.59 |
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18 |
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2 |
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306.59 |
$306.60 – $348.73 |
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21 |
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4 |
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347.00 |
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15 |
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1 |
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348.73 |
$348.74 – $395.84 |
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137 |
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8 |
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372.41 |
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19 |
|
3 |
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395.84 |
$395.85 – $545.67 |
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95 |
|
6 |
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521.70 |
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26 |
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5 |
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533.35 |
$174.45 – $545.67 |
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290 |
|
6 |
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$ |
405.98 |
|
97 |
|
3 |
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$ |
377.10 |
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| Summary of restricted stock units activity |
A summary of RSU activity is presented in the following table (shares in thousands):
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Fiscal 2025 |
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Fiscal 2024 |
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Fiscal 2023 |
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Weighted- |
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Weighted- |
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Weighted- |
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Number of |
|
average grant |
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Number of |
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average grant |
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Number of |
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average grant |
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units |
|
date fair value |
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units |
|
date fair value |
|
units |
|
date fair value |
Beginning of year |
|
125 |
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$ |
472.36 |
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140 |
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$ |
408.86 |
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221 |
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$ |
264.08 |
Granted |
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122 |
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395.40 |
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54 |
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497.25 |
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50 |
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518.45 |
Vested |
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(46) |
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401.76 |
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(50) |
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322.03 |
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(122) |
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|
191.76 |
Forfeited |
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(24) |
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432.72 |
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(19) |
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471.41 |
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(9) |
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|
408.21 |
End of year |
|
177 |
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$ |
443.02 |
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125 |
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$ |
472.36 |
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140 |
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$ |
408.86 |
Expected to vest |
|
164 |
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$ |
443.02 |
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116 |
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$ |
472.36 |
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130 |
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$ |
408.86 |
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| Summary of Performance-based restricted stock units activity |
A summary of PBS activity is presented in the following table (shares in thousands):
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Fiscal 2025 |
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Fiscal 2024 |
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Fiscal 2023 |
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Weighted- |
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Weighted- |
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Weighted- |
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Number of |
|
average grant |
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Number of |
|
average grant |
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Number of |
|
average grant |
|
units |
|
date fair value |
|
units |
|
date fair value |
|
units |
|
date fair value |
Beginning of year |
93 |
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$ |
488.16 |
|
106 |
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$ |
407.03 |
|
76 |
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$ |
347.89 |
Granted |
3 |
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|
507.73 |
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37 |
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522.88 |
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33 |
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|
542.33 |
Change in performance award payout |
30 |
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|
395.84 |
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34 |
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|
306.59 |
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— |
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— |
Vested |
(61) |
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332.12 |
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(74) |
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306.59 |
|
— |
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— |
Forfeited |
(6) |
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529.61 |
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(10) |
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|
476.01 |
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(3) |
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|
403.60 |
End of year |
59 |
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$ |
530.45 |
|
93 |
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$ |
488.16 |
|
106 |
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$ |
407.03 |
Expected to vest |
55 |
|
$ |
530.45 |
|
86 |
|
$ |
488.16 |
|
98 |
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$ |
407.03 |
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