Leases (Tables)

9 Months Ended

Nov. 03, 2024

Leases [Abstract]

Schedule of Components of Lease Cost

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

	Third Quarter of Fiscal				First Three Quarters of Fiscal
	2024		2025		2024		2025
Fixed operating lease cost	$	10,685	$	12,930	$	37,338	$	35,467
Variable lease cost (1)	2,328		3,905		8,002		10,699
Short-term lease cost (12 months or less)	1,081		1,160		3,214		3,014
Finance lease cost:
Amortization of finance lease right-of-use assets	1,100		1,100		3,300		3,300
Interest on finance lease liabilities	81		16		338		141
Total finance lease cost	$	1,181	$	1,116	$	3,638	$	3,441
Total lease cost	$	15,275	$	19,111	$	52,192	$	52,621

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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			Third Quarter of Fiscal 2025
Operating leases:
Weighted-average remaining lease term (in years)	5.0			5.0
Weighted-average discount rate	7.1		%	7.4		%
Finance leases:
Finance lease right-of-use assets, gross	$	17,596		$	17,596
Accumulated amortization	(7,812)			(11,112)
Finance lease right-of-use assets, net (1)	$	9,784		$	6,484
Finance lease liabilities, current (2)	4,204			691
Finance lease liabilities, non-current (3)	180			—
Total finance lease liabilities	$	4,384		$	691
Weighted-average remaining lease term (in years)	2.4			1.1
Weighted-average discount rate	5.4		%	3.0		%

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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 Three Quarters of Fiscal
	2024		2025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows for operating leases	$	29,591	$	37,380
Financing cash outflows for finance leases	$	5,969	$	4,818
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	11,966	$	56,813

Schedule of Future Lease Payments Under Non-Cancelable Leases

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

Fiscal Years Ending	Operating Leases		Finance Leases
The remainder of 2025	$	18,426	$	514
2026	53,078		183
2027	37,100		—
2028	39,986		—
2029	32,263		—
Thereafter	53,696		—
Total future lease payments	234,549		697
Less: imputed interest	(40,218)		(6)
Present value of total lease liabilities	$	194,331	$	691

Schedule of 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 $35.9 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	$	727	$	549
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	$	27,322	$	5,319

Schedule of 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 $35.9 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	$	727	$	549
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	$	27,322	$	5,319