Leases (Notes)

9 Months Ended

Nov. 02, 2024

Leases [Abstract]

Lessee, Operating Leases [Text Block]

LEASES

The Company is a party to leases related to its Company-operated retail stores as well as for certain of its distribution centers, office space, information technology and equipment.

The following table provides a summary of the Company’s operating lease costs for the thirteen and thirty-nine weeks ended November 2, 2024 and October 28, 2023:

	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
(in thousands)	November 2, 2024		October 28, 2023		November 2, 2024		October 28, 2023
Single lease cost (1)	$	69,167	$	63,177	$	193,310	$	184,172
Variable lease cost (2)	45,715		32,332		137,081		119,809
Operating lease right-of-use asset impairment (3)	233		—		1,043		1,414
Sublease income	(1,003)		(979)		(2,973)		(2,959)
Total operating lease cost	$	114,112	$	94,530	$	328,461	$	302,436

(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.

(3)Refer to Note 8, “ASSET IMPAIRMENT,” for details related to operating lease right-of-use asset impairment charges.

The Company had minimum commitments related to operating lease contracts that have not yet commenced, primarily for certain Company-operated retail stores, of approximately $66.5 million as of November 2, 2024.