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IMMATERIAL CORRECTION OF 2024 INTERIM PERIOD CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
 6 Months Ended
Aug. 03, 2025
Accounting Changes and Error Corrections [Abstract]  
IMMATERIAL CORRECTION OF 2024 INTERIM PERIOD CONDENSED CONSOLIDATED FINANCIAL STATEMENTS IMMATERIAL CORRECTION OF 2024 INTERIM PERIOD CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
In connection with our fiscal 2024 year-end close process, we identified that we did not timely record shrink losses for certain inventories not ultimately received, which also impacted our bonus accrual, in the first three quarters of fiscal 2024. Therefore, our previously issued interim financial statements for the first three quarters of fiscal 2024 did not reflect these adjustments. We properly accounted for this matter in our fiscal 2024 annual Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended February 2, 2025.
Management evaluated the materiality of the above items based on an analysis of quantitative and qualitative factors and concluded they were not material to the interim periods of fiscal 2024, individually or in aggregate. The following tables reflect the effects of the correction on all affected line items of our previously reported Condensed Consolidated Financial Statements for the thirteen and twenty-six weeks ended July 28, 2024:

Condensed Consolidated Statements of Earnings (unaudited)
For the Thirteen Weeks Ended
For the Twenty-six Weeks Ended
July 28, 2024
July 28, 2024
(In thousands, except per share amounts)As Previously ReportedAdjustmentsAs
Corrected		As Previously ReportedAdjustmentsAs
Corrected
Cost of goods sold$961,981 $22,386 $984,367 $1,819,814 $29,733 $1,849,547 
Gross profit826,326 (22,386)803,940 1,628,841 (29,733)1,599,108 
Selling, general and administrative expenses536,410 (10,370)526,040 1,015,097 (11,001)1,004,096 
Operating income
289,916 (12,016)277,900 613,744 (18,732)595,012 
Earnings before income taxes305,124 (12,016)293,108 645,005 (18,732)626,273 
Income taxes79,379 (3,126)76,253 153,594 (4,592)149,002 
Net earnings$225,745 $(8,890)$216,855 $491,411 $(14,140)$477,271 
Basic earnings per share$1.76 $(0.07)$1.69 $3.83 $(0.11)$3.72 
Diluted earnings per share$1.74 $(0.07)$1.67 $3.78 $(0.11)$3.67 
Condensed Consolidated Statements of Comprehensive Income (unaudited)
 
For the Thirteen Weeks Ended July 28, 2024
For the Twenty-six Weeks Ended July 28, 2024
(In thousands)As Previously ReportedAdjustmentsAs
Corrected		As Previously ReportedAdjustmentsAs
Corrected
Net earnings$225,745 $(8,890)$216,855 $491,411 $(14,140)$477,271 
Comprehensive income$225,790 $(8,890)$216,900 $490,115 $(14,140)$475,975 

Condensed Consolidated Balance Sheets (unaudited)
As of July 28, 2024
(In thousands)As Previously ReportedAdjustmentsAs
Corrected
Merchandise inventories, net$1,247,426 $(29,733)$1,217,693 
Total current assets2,744,297 (29,733)2,714,564 
Total assets5,211,672 (29,733)5,181,939 
Accrued expenses207,633 (11,001)196,632 
Income taxes payable53,373 (4,592)48,781 
Total current liabilities1,758,795 (15,593)1,743,202 
Total liabilities2,961,442 (15,593)2,945,849 
Retained earnings1,728,063 (14,140)1,713,923 
Total stockholders’ equity2,250,230 (14,140)2,236,090 
Total liabilities and stockholders’ equity$5,211,672 $(29,733)$5,181,939 

Condensed Consolidated Statements of Stockholders' Equity (unaudited)
Retained
Earnings
Total
Stockholders’
Equity
(In thousands)
As Previously Reported
Balance at January 28, 2024
$1,555,595 $2,127,861 
Net earnings265,666 265,666 
Balance at April 28, 20241,704,409 2,209,558 
Net earnings225,745 225,745 
Balance at July 28, 2024
1,728,063 2,250,230 
Adjustments
Net earnings(5,250)(5,250)
Balance at April 28, 2024(5,250)(5,250)
Net earnings(8,890)(8,890)
Balance at July 28, 2024
(14,140)(14,140)
As Corrected
Balance at January 28, 2024
1,555,595 2,127,861 
Net earnings260,416 260,416 
Balance at April 28, 20241,699,159 2,204,308 
Net earnings216,855 216,855 
Balance at July 28, 2024
$1,713,923 $2,236,090 
Condensed Consolidated Statements of Cash Flows (unaudited)
 
For the Twenty-six Weeks Ended July 28, 2024
(In thousands)As Previously ReportedAdjustmentsAs
Corrected
Cash flows from operating activities:
Net earnings$491,411 $(14,140)$477,271 
Changes in:
Merchandise inventories(1,415)29,733 28,318 
Accrued expenses and other liabilities(54,924)(11,001)(65,925)
Income taxes payable(43,181)(4,592)(47,773)
Net cash provided by operating activities$473,283 $— $473,283