PROPERTY AND EQUIPMENT

12 Months Ended

Jan. 31, 2026

PROPERTY AND EQUIPMENT.

PROPERTY AND EQUIPMENT

10.   PROPERTY AND EQUIPMENT

Property and equipment consisted of the following:

($thousands)	January 31, 2026		February 1, 2025
Land and buildings	$	19,549	$	37,494
Leasehold improvements		244,261		229,227
Technology equipment		62,132		56,900
Machinery and equipment		125,318		116,404
Furniture and fixtures		141,270		146,730
Construction in progress		26,816		16,518
Property and equipment		619,346		603,273
Allowances for depreciation		(416,407)		(428,060)
Property and equipment, net	$	202,939	$	175,213

Useful lives of property and equipment are as follows:

	Years
Buildings	5 - 30
Leasehold improvements	5 - 20
Technology equipment	2 - 7
Machinery and equipment	4 - 20
Furniture and fixtures	3 - 10

After allowing for an appropriate start-up period, property and equipment at stores and any lease right-of-use assets indicated as impaired are written down to fair value as calculated using a discounted cash flow method.  The Company recorded charges for impairment of $1.7 million, $1.9 million and $0.7 million in 2025, 2024 and 2023, respectively, primarily for operating lease right-of-use assets, leasehold improvements and furniture and fixtures in the Company’s retail stores and capitalized software, which are presented in selling and administrative expenses. Fair value was based on estimated future cash flows to be generated by retail stores, discounted at a market rate of interest. Refer to Note 13 and Note 14 to the consolidated financial statements for further discussion of these impairment charges.

Sale of Corporate Headquarters

In December 2025, the Company completed the sale of the largest parcel of its corporate headquarters campus and entered into a short-term leaseback arrangement for the sold parcel, under which the Company will continue to occupy the property until its new headquarters space becomes available, which is expected in mid-2026. While the Company remains committed to vacating the remaining two parcels, these parcels are no longer presented separately from held and used property on the consolidated balance sheet. Accordingly, the remaining parcels with a carrying value of $5.1 million, were reclassified to property and equipment, net.