Leases (Tables)

3 Months Ended

May 04, 2019

Lease Terms and Renewal Options [Table Text Block]

The Company leases all of its retail locations, a manufacturing facility, and certain office locations, distribution centers and equipment. At contract inception, leases are evaluated and classified as either operating or finance leases. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The Company's leases that are classified as operating leases have lease terms and renewal options as follows:



	Lease Term	Renewal Options
Retail stores	5-10 years	Approximately 45% have options of varying periods
Manufacturing facility	8 years	None
Office facilities and distribution centers	10-15 years	5-20 years
Equipment	1 - 6 years	None

Lease Assets and Liabilities [Table Text Block]

The following is a summary of lease assets and liabilities on the condensed consolidated balance sheet at May 4, 2019:



($ thousands)	May 4, 2019
Lease Classification
Lease right-of-use assets	$	735,282
Current lease obligations	(136,005		)
Noncurrent lease obligations	(662,750		)
Net balance sheet impact	$	(63,473	)

Weighted-average lease term [Table Text Block]

The weighted-average lease term and discount rate as of May 4, 2019 were as follows:



	May 4, 2019
Weighted-average remaining lease term (in years)	7.1
Weighted-average discount rate	4.1	%

Lease, Cost [Table Text Block]

The components of lease expense for the thirteen weeks ended May 4, 2019 were as follows:



	Thirteen Weeks Ended
($ thousands)	May 4, 2019
Operating lease expense	$	46,461
Variable lease expense	12,184
Short-term lease expense	1,115
Sublease income	(73		)
Total lease expense	$	59,687

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

Future minimum rent payments under noncancelable leases with an initial term of one year or more at May 4, 2019 were as follows:



($ thousands)
Remainder of 2019	$	135,036
2020	159,990
2021	135,705
2022	113,185
2023	94,496
2024	73,946
Thereafter	168,164
Total minimum lease payments⁽¹⁾	$	880,522
Less imputed interest	(81,767		)
Present value of lease obligations	$	798,755

^{(1) Minimum lease payments have not been reduced by minimum sublease rental income of}^{$0.5 million}^{due in the future under noncancelable sublease agreements.}

Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]

Supplemental cash flow information related to leases is as follows:



	Thirteen Weeks Ended
($ thousands)	May 4, 2019
Cash paid for lease liabilities	$	46,511
Cash received from sublease income	73