LEASES (Tables)

12 Months Ended

Jan. 29, 2022

Leases [Abstract]

Lease, Cost [Table Text Block]

The following table provides a summary of the Company’s operating lease costs for Fiscal 2021, Fiscal 2020 and Fiscal 2019:

(in thousands)	Fiscal 2021		Fiscal 2020		Fiscal 2019
Single lease cost (1)	$	272,246	$	346,178	$	427,982
Variable lease cost (2)	110,889		65,310		143,472
Operating lease right-of-use asset impairment (3)	9,509		57,026		15,812
Sublease Income	(4,292)		—		—
Total operating lease cost	$	388,352	$	468,514	$	587,266

(1)Includes amortization and interest expense associated with operating lease right-of-use assets and the impact from remeasurement of operating lease liabilities.

(2)Includes variable payments related to both lease and nonlease components, such as contingent rent payments made by the Company based on performance, and payments related to taxes, insurance, and maintenance costs, as well as $14.1 million and $30.1 million of rent abatements in Fiscal 2021 and Fiscal 2020, respectively, related to the effects of the COVID-19 pandemic that resulted in lease concessions with total payments required by the modified contract being substantially the same as or less than total payments required by the original contract. The total benefit related to rent abatements recognized during Fiscal 2021 and Fiscal 2020 was $17.9 million and $30.7 million respectively.

(3)Refer to Note 9, “ASSET IMPAIRMENT,” for details related to operating lease right-of-use asset impairment charges.

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

The following table provides the weighted-average remaining lease term of the Company’s operating leases and the weighted-average discount rate used to calculate the Company’s operating lease liabilities as of January 29, 2022 and January 30, 2021:

	January 29, 2022		January 30, 2021
Weighted-average remaining lease term (years)	5.3		5.7
Weighted-average discount rate	5.6	%	5.6	%

The following table provides a maturity analysis of the Company’s operating lease liabilities, based on undiscounted cash flows, as of January 29, 2022:

(in thousands)	January 29, 2022
Fiscal 2022	$	266,893
Fiscal 2023	215,464
Fiscal 2024	152,282
Fiscal 2025	131,972
Fiscal 2026	106,873
Fiscal 2027 and thereafter	190,984
Total undiscounted operating lease payments	1,064,468
Less: Imputed interest	(144,381)
Present value of operating lease liabilities	$	920,087