filings.toolsItem 1A. RISK FACTORS
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Item 1A. RISK FACTORS
See Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended February 2, 2025 for a description of the risks and uncertainties associated with our business. There were no material changes to such risk factors in the current quarterly reporting period.
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
In September 2024, our Board of Directors authorized a stock repurchase program for $1.0 billion, which went into effect during the thirteen weeks ended August 3, 2025 once our prior authorization was fully utilized.
The following table provides information as of August 3, 2025 with respect to shares of common stock we repurchased during the second quarter of fiscal 2025. For additional information, please see Note G to our Condensed Consolidated Financial Statements within Part I of this Form 10-Q.
| Fiscal Period | Total Number of Shares Purchased 1 | Average Price Paid Per Share | Total Number of Shares Purchased as Part of a Publicly Announced Program 1 | Approximate Dollar Value of Shares That May Yet Be Purchased Under the Program | |||||||||||||||||||
| May 5, 2025 - June 1, 2025 | 754,597 | $ | 164.51 | 754,597 | $ | 978,415,000 | |||||||||||||||||
| June 2, 2025 - June 29, 2025 | 473,002 | $ | 158.56 | 473,002 | $ | 903,415,000 | |||||||||||||||||
| June 30, 2025 - August 3, 2025 | — | $ | — | — | $ | 903,415,000 | |||||||||||||||||
| Total | 1,227,599 | $ | 162.22 | 1,227,599 | $ | 903,415,000 |
1 Excludes shares withheld for employee taxes upon vesting of stock-based awards.
Stock repurchases under our program may be made through open market and privately negotiated transactions at times and in such amounts as management deems appropriate. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements, capital availability and other market conditions. The stock repurchase program does not have an expiration date and may be limited or terminated at any time without prior notice.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
Not applicable.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
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