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DERIVATIVE INSTRUMENTS (Tables)
 12 Months Ended
Jan. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Outstanding Foreign Exchange Forward Contracts
As of January 30, 2021, the Company had outstanding the following foreign currency exchange forward contracts that were entered into to hedge either a portion, or all, of forecasted foreign-currency-denominated intercompany inventory transactions, the resulting settlement of the foreign-currency-denominated intercompany accounts receivable, or both:
(in thousands)
Notional  Amount (1)
Euro
$92,220 
British pound$29,603 
Canadian dollar
$11,239 

(1)Amounts reported are the U.S. Dollar notional amounts outstanding as of January 30, 2021.
Schedule of Locations and Amounts of Derivative Fair Values on the Consolidated Balance Sheets The location and amounts of derivative fair values of foreign currency exchange forward contracts on the Consolidated Balance Sheets as of January 30, 2021 and February 1, 2020 were as follows:
(in thousands)LocationJanuary 30, 2021February 1, 2020LocationJanuary 30, 2021February 1, 2020
Derivatives designated as cash flow hedging instruments
Other current assets$79 $1,869 Accrued expenses$4,694 $1,377 
Derivatives not designated as hedging instruments
Other current assets— 100 Accrued expenses— 83 
Total
$79 $1,969 $4,694 $1,460 
Schedule of Locations and Amounts of Derivative Gains (Losses) on the Consolidated Statements of Operations and Comprehensive Income Additional information pertaining to derivative gains or losses from foreign currency exchange forward contracts designated as cash flow hedging instruments for Fiscal 2020, Fiscal 2019 and Fiscal 2018 follows:
(in thousands)Fiscal 2020Fiscal 2019Fiscal 2018
Gain recognized in AOCL (1)
$7,619 $7,495 $18,700 
Gain reclassified from AOCL into cost of sales, exclusive of depreciation and amortization (2)
$13,235 $9,160 $4,727 
(1)Amount represents the change in fair value of derivative contracts.
(2)Amount represents gain reclassified from AOCL to cost of sales, exclusive of depreciation and amortization, on the Consolidated Statements of Operations and Comprehensive (Loss) Income when the hedged item affects earnings, which is when merchandise is converted to cost of sales, exclusive of depreciation and amortization.

As a result of COVID-19 in Fiscal 2020, there was a significant change in the expected timing of previously hedged intercompany sales transactions, resulting in a dedesignation of the related hedge instruments. At the time of dedesignation of these hedges, they were in a net gain position of approximately $12.6 million. Due to the extenuating circumstances leading to dedesignation, gains associated with these hedges at the time of dedesignation were deferred in AOCL until being reclassified into cost of goods sold, exclusive of depreciation and amortization when the originally forecasted transactions occurred and the hedged items affected earnings. During Fiscal 2020 and subsequent to the dedesignation of these hedges, these hedge contracts were settled.

Substantially all of the unrealized gains or losses related to foreign currency exchange forward contracts designated as cash flow hedging instruments as of January 30, 2021 will be recognized within the Consolidated Statements of Operations and Comprehensive (Loss) Income over the next twelve months.
Additional information pertaining to derivative gains or losses from foreign currency exchange forward contracts not designated as hedging instruments for Fiscal 2020, Fiscal 2019 and Fiscal 2018 follows:
(in thousands)Fiscal 2020Fiscal 2019Fiscal 2018
Gain (loss) recognized in other operating income, net$742 $(298)$3,722