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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Feb. 01, 2025
Feb. 03, 2024
Jan. 28, 2023
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 72,412 $ 127,561 $ 528,642
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 130,191 118,989 108,588
Non-cash operating lease cost 96,406 86,699 75,185
Stock-based compensation expense 44,185 39,384 43,546
Asset impairments 37,570 8,339 24,186
Non-cash compensation related to consolidated variable interest entities     4,470
Non-cash finance lease interest expense 31,896 33,822 32,051
Deferred income taxes (1,494) 25,266 (91,988)
Loss on extinguishment of debt     169,578
Share of equity method investments loss-net 11,380 10,875 2,055
Other non-cash items 9,097 7,362 5,809
Change in assets and liabilities:      
Accounts receivable (8,484) 4,690 (1,846)
Merchandise inventories (268,573) 47,274 (77,193)
Prepaid expense and other assets (19,392) (65,658) (102,521)
Landlord assets under construction-net of tenant allowances (51,538) (25,368) (51,369)
Accounts payable and accrued expenses 46,778 (41,070) (56,264)
Deferred revenue and customer deposits 9,352 (42,974) (62,086)
Other current liabilities (1,798) (5,937) (37,653)
Current and non-current operating lease liabilities (90,334) (95,634) (76,968)
Other non-current obligations (30,559) (31,406) (32,535)
Net cash provided by operating activities 17,095 202,214 403,687
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (230,788) (269,356) (173,642)
Equity method investments (9,621) (38,075) (2,713)
Proceeds from sale of asset     5,287
Net cash used in investing activities (240,409) (307,431) (171,068)
CASH FLOWS FROM FINANCING ACTIVITIES      
Borrowings under asset based credit facility 235,000    
Repayments under asset based credit facility (35,000)    
Borrowings under term loans     500,000
Repayments under term loans (25,000) (25,000) (21,250)
Borrowings under real estate loans     16,000
Repayments under real estate loans (127) (26) (10)
Repayments under promissory and equipment security notes   (1,160) (13,863)
Repayments of convertible senior notes (41,904) (1,696) (13,064)
Repayment under convertible senior notes repurchase obligation     (395,372)
Debt issuance costs     (28,069)
Debt extinguishment costs     (8,059)
Principal payments under finance lease agreements-net of tenant allowances (20,752) (13,972) (10,146)
Proceeds from termination of convertible senior note hedges     231,796
Payments for termination of common stock warrants     (390,934)
Repurchases of common stock-inclusive of excise taxes paid (11,988) (1,252,899) (1,000,000)
Proceeds from exercise of stock options 30,904 12,122 231,297
Tax withholdings related to issuance of stock-based awards (547) (400) (803)
Net cash provided by (used in) financing activities 130,586 (1,283,031) (902,477)
Effects of foreign currency exchange rate translation on cash (547) 173 (243)
Net decrease in cash and cash equivalents, restricted cash and restricted cash equivalents (93,275) (1,388,075) (670,101)
Cash and cash equivalents, restricted cash and restricted cash equivalents      
Beginning of period-cash and cash equivalents 123,688 1,508,101 2,177,889
Beginning of period-restricted cash 3,662 3,662  
Beginning of period-restricted cash equivalents (acquisition related escrow deposits)     3,975
Beginning of period-cash and cash equivalents, restricted cash and restricted cash equivalents 123,688 1,511,763 2,181,864
End of period-cash and cash equivalents 30,413 123,688 1,508,101
End of period-restricted cash   3,662 3,662
End of period-cash and cash equivalents and restricted cash 30,413 123,688 1,511,763
Cash paid for interest 219,686 246,210 133,821
Cash paid for taxes 21,080 14,278 41,355
Non-cash transactions:      
Property and equipment additions in accounts payable and accrued expenses at period-end 47,748 40,775 17,755
Landlord asset additions in accounts payable and accrued expenses at period-end $ 10,030 3,841 1,229
Excise tax from share repurchases in accounts payable and accrued expenses at period-end   $ 11,988 3,700
Property and equipment additions acquired under real estate loans     2,000
Shares issued on settlement of convertible senior notes     (14,705)
Shares received on exercise of call option under bond hedge upon settlement of convertible senior notes     14,705
Extinguishment of convertible senior notes related to repurchase obligation     (261,988)
Financing liability and embedded derivative arising from convertible senior notes repurchase     405,577
Conversion of loan receivables into equity of consolidated variable interest entities     $ 27,096