RELATED PARTY TRANSACTIONS
|12 Months Ended|
Jan. 30, 2021
|RELATED PARTY TRANSACTIONS|
|RELATED PARTY TRANSACTIONS||
14. RELATED PARTY TRANSACTIONS
During fiscal 2020, affiliates of, or funds advised by, The Blackstone Group, Inc. (“The Blackstone Group”) sold their remaining shares of the Company’s common stock. As a result of the sale, The Blackstone Group is no longer considered to be a related party. Payments made to The Blackstone Group during fiscal 2020 were not material to the consolidated financial statements. The Blackstone Group owned approximately 14% of our outstanding common stock as of February 1, 2020 and February 2, 2019.
The Blackstone Group owned a majority equity position in RGIS, a vendor we utilized to count our store inventory. Payments associated with this vendor during fiscal 2018 were $0.7 million and are included in SG&A in the consolidated statements of comprehensive income.
The Blackstone Group owned a majority equity position in ShopCore Properties, LP, Blackstone Real Estate DDR Retail Holdings III, LLC and Blackstone Real Estate RC Retail Holdings, LLC and had significant influence over Edens Limited Partnership, vendors we utilize to lease certain properties. Payments associated with these vendors during
fiscal 2019 and fiscal 2018 were $10.0 million and $11.5 million, respectively. These expenses are included in cost of sales and occupancy expense in the consolidated statements of comprehensive income.
The Blackstone Group had significant influence over Blue Yonder, Inc. (formerly known as JDA Software Group, Inc.), a vendor we utilize for transportation and supply chain software. Payments associated with this vendor during fiscal 2019 and fiscal 2018 were $2.3 million and $3.0 million, respectively. These expenses are included in SG&A in the consolidated statements of comprehensive income.
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef