LEASES (Tables)

12 Months Ended

Jan. 28, 2023

Leases [Abstract]

Lease, Cost [Table Text Block]

The following table provides a summary of the Company’s operating lease costs for Fiscal 2022, Fiscal 2021 and Fiscal 2020:

(in thousands)	Fiscal 2022		Fiscal 2021		Fiscal 2020
Single lease cost (1)	$	246,824	$	272,246	$	346,178
Variable lease cost (2)	150,909		110,889		65,310
Operating lease right-of-use asset impairment (3)	6,248		9,509		57,026
Sublease income	(3,826)		(4,292)		—
Total operating lease cost	$	400,155	$	388,352	$	468,514

(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 $3.9 million, $14.1 million and $30.1 million of rent abatements in Fiscal 2022, 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 2022, Fiscal 2021 and Fiscal 2020 was $3.9 million, $17.9 million and $30.7 million, respectively.

(3)Refer to Note 8, “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 28, 2023 and January 29, 2022:

	January 28, 2023		January 29, 2022
Weighted-average remaining lease term (years)	5.3		5.3
Weighted-average discount rate	6.3	%	5.6	%

The following table provides a maturity analysis of the Company’s operating lease liabilities, based on undiscounted cash flows, as of January 28, 2023:

(in thousands)	January 28, 2023
Fiscal 2023	$	263,666
Fiscal 2024	200,487
Fiscal 2025	179,138
Fiscal 2026	149,074
Fiscal 2027	121,177
Fiscal 2028 and thereafter	171,132
Total undiscounted operating lease payments	1,084,674
Less: Imputed interest	(157,334)
Present value of operating lease liabilities	$	927,340