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Leases (Tables)

12 Months Ended

Jan. 28, 2023

Schedule of Classification of Lease Cost

The Company's classification of lease cost on the Company's consolidated statements of operations is as follows (in thousands):


	52 Week Period Ended (1)		52 Week Period Ended (1)		52 Week Period Ended (1)
	January 28, 2023		January 29, 2022		January 30, 2021
Cost of sales (2)
Operating lease cost	$	44,960	$	37,241	$	43,753
Short-term lease cost		2,662		1,144		755
Variable lease cost		1,367		2,102		1,554
Total lease cost in cost of sales		48,989		40,487		46,062
Other operating expenses
Operating lease cost		1,657		1,701		1,862
Short-term lease cost		67		53		60
Total lease cost in other operating expenses		1,724		1,754		1,922
Total lease cost	$	50,713	$	42,241	$	47,984

(1)

Total lease cost excludes expense for non-lease components including common area maintenance and excludes costs that are not a component of the lease including real estate taxes, insurance, sales taxes and utilities for the Company’s leases.

(2)

Cost of sales includes all distribution center lease costs and store occupancy-related lease costs.

Rent Expense Under Operating Leases

As of January 28, 2023, future minimum payments, by year and in the aggregate, under all operating leases with initial terms of one year or more consist of the following (in thousands):


	Operating Leases
2023	$	50,641
2024		41,043
2025		32,019
2026		24,054
2027		16,403
Thereafter		18,615
Total lease payments		182,775
Less: interest		(26,663	)
Present value of lease liabilities	$	156,112

Schedule of Lease Term and Discount Rate

The Company’s lease term and discount rate is as follows:


	January 28, 2023
Weighted-average remaining lease term (years)		4.9
Weighted-average discount rate		7.0	%

Schedule of Cash Paid for Amounts Included in Measurement of Lease Liabilities

Cash paid for amounts included in the measurement of lease liabilities is as follows (in thousands):


	52 Weeks Ended January 28, 2023		52 Weeks Ended January 29, 2022		52 Weeks Ended January 30, 2021
Operating cash flows from operating leases	$	53,415	$	53,220	$	57,310