PREPAID EXPENSE AND OTHER ASSETS (Tables)

3 Months Ended

May 03, 2025

PREPAID EXPENSE AND OTHER ASSETS

Schedule of prepaid expense and other current assets

Prepaid expense and other current assets consisted of the following:

	MAY 3,		FEBRUARY 1,
	2025		2025
	(in thousands)
Prepaid expenses	$	34,391	$	29,595
Federal and state tax receivable(1)		21,710		24,729
Vendor deposits		17,870		20,441
Value added tax (VAT) receivable		15,700		9,866
Capitalized catalog costs		13,731		30,162
Tenant allowance receivable		12,199		12,668
Capitalized cloud computing costs		11,003		9,851
Right of return asset for merchandise		5,989		6,237
Promissory notes receivable, including interest(2)		1,135		3,674
Other current assets		28,497		30,620
Total prepaid expense and other current assets	$	162,225	$	177,843

(1) Includes $19 million as of both periods related to a federal tax receivable from a carryback claim.

(2) Represents promissory notes, including principal and accrued interest, due from an affiliate of the managing member of the Aspen LLCs. Refer to Note 5—Variable Interest Entities.

Schedule of other non-current assets

Other non-current assets consisted of the following:

	MAY 3,		FEBRUARY 1,
	2025		2025
	(in thousands)
Landlord assets under construction—net of tenant allowances	$	168,114	$	138,701
Initial direct costs prior to lease commencement		98,021		80,897
Capitalized cloud computing costs—net(1)		25,022		22,738
Other deposits		7,869		7,754
Vendor deposits—non-current		2,070		2,684
Deferred financing fees		1,260		1,512
Other non-current assets		16,987		17,100
Total other non-current assets	$	319,343	$	271,386

(1) Presented net of accumulated amortization of $33 million and $30 million as of May 3, 2025 and February 1, 2025, respectively.