Leases (Tables)

6 Months Ended

Aug. 04, 2024

Leases [Abstract]

Schedule of Components of Lease Cost

The components of lease costs during the periods presented were as follows (in thousands):

	Second Quarter of Fiscal				First Two Quarters of Fiscal
	2024		2025		2024		2025
Fixed operating lease cost	$	12,652	$	11,548	$	26,653	$	22,537
Variable lease cost (1)	3,590		3,202		5,674		6,794
Short-term lease cost (12 months or less)	1,075		957		2,133		1,854
Finance lease cost:
Amortization of finance lease right-of-use assets	1,100		1,100		2,200		2,200
Interest on finance lease liabilities	128		62		257		125
Total finance lease cost	$	1,228	$	1,162	$	2,457	$	2,325
Total lease cost	$	18,545	$	16,869	$	36,917	$	33,510

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(1) Variable lease cost predominantly included common area maintenance charges.

Supplemental information related to leases is as follows (in thousands):

	At the End of
	Fiscal 2024			Second Quarter of Fiscal 2025
Operating leases:
Weighted-average remaining lease term (in years)	5.0			4.9
Weighted-average discount rate	7.1		%	7.3		%
Finance leases:
Finance lease right-of-use assets, gross	$	17,596		$	17,596
Accumulated amortization	(7,812)			(10,012)
Finance lease right-of-use assets, net (1)	$	9,784		$	7,584
Finance lease liabilities, current (2)	4,204			2,035
Finance lease liabilities, non-current (3)	180			64
Total finance lease liabilities	$	4,384		$	2,099
Weighted-average remaining lease term (in years)	2.4			1.9
Weighted-average discount rate	5.4		%	5.6		%

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(1) Included in the condensed consolidated balance sheets within property and equipment, net.

(2) Included in the condensed consolidated balance sheets within accrued expenses and other liabilities.

(3) Included in the condensed consolidated balance sheets within other liabilities, non-current.

Schedule of Cash Flow, Supplemental Disclosures

Supplemental cash flow information related to leases is as follows (in thousands):

	First Two Quarters of Fiscal
	2024		2025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows for operating leases	$	18,643	$	22,916
Financing cash outflows for finance leases	$	1,540	$	3,337
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	10,840	$	28,636

Schedule of Future Lease Payments Under Non-Cancelable Leases

Future lease payments under our non-cancelable leases at the end of the second quarter of fiscal 2025 were as follows (in thousands):

Fiscal Years Ending	Operating Leases		Finance Leases
The remainder of 2025	$	33,147	$	1,938
2026	48,630		183
2027	31,226		—
2028	32,896		—
2029	26,729		—
Thereafter	40,645		—
Total future lease payments	213,273		2,121
Less: imputed interest	(35,024)		(22)
Present value of total lease liabilities	$	178,249	$	2,099

Sales-Type Leases, Payment to be Received, Maturity

Future minimum gross lease payments for the two seven-year leases allocated to the sales-type leases and operating lease components were as follows (in thousands). The remaining lease payments of $38.1 million allocated to the non-lease components, are excluded from the table below.

Fiscal Years Ending	Sales-Type Leases		Operating Lease
The remainder of 2025	$	1,835	$	1,483
2026	2,908		2,192
2027	2,908		2,192
2028	4,713		386
2029	5,100		—
Thereafter	10,966		—
Total future lease payments to be received	$	28,430	$	6,253

Lessor, Operating Lease, Payment to be Received, Maturity

Future minimum gross lease payments for the two seven-year leases allocated to the sales-type leases and operating lease components were as follows (in thousands). The remaining lease payments of $38.1 million allocated to the non-lease components, are excluded from the table below.

Fiscal Years Ending	Sales-Type Leases		Operating Lease
The remainder of 2025	$	1,835	$	1,483
2026	2,908		2,192
2027	2,908		2,192
2028	4,713		386
2029	5,100		—
Thereafter	10,966		—
Total future lease payments to be received	$	28,430	$	6,253