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IMMATERIAL CORRECTION OF 2024 INTERIM PERIOD CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
 9 Months Ended
Nov. 02, 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 thirty-nine weeks ended October 27, 2024:

Condensed Consolidated Statements of Earnings (unaudited)
For the Thirteen Weeks Ended
For the Thirty-nine Weeks Ended
October 27, 2024
October 27, 2024
(In thousands, except per share amounts)As Previously ReportedAdjustmentsAs
Corrected		As Previously ReportedAdjustmentsAs
Corrected
Cost of goods sold$958,953 $24,149 $983,102 $2,778,767 $53,882 $2,832,649 
Gross profit841,715 (24,149)817,566 2,470,556 (53,882)2,416,674 
Selling, general and administrative expenses521,072 (8,537)512,535 1,536,169 (19,538)1,516,631 
Operating income
320,643 (15,612)305,031 934,387 (34,344)900,043 
Earnings before income taxes332,445 (15,612)316,833 977,450 (34,344)943,106 
Income taxes83,492 (3,921)79,571 237,086 (8,513)228,573 
Net earnings$248,953 $(11,691)$237,262 $740,364 $(25,831)$714,533 
Basic earnings per share$1.99 $(0.10)$1.89 $5.81 $(0.20)$5.61 
Diluted earnings per share$1.96 $(0.09)$1.87 $5.74 $(0.20)$5.54 
Condensed Consolidated Statements of Comprehensive Income (unaudited)
 
For the Thirteen Weeks Ended October 27, 2024
For the Thirty-nine Weeks Ended October 27, 2024
(In thousands)As Previously ReportedAdjustmentsAs
Corrected		As Previously ReportedAdjustmentsAs
Corrected
Net earnings$248,953 $(11,691)$237,262 $740,364 $(25,831)$714,533 
Comprehensive income$248,940 $(11,691)$237,249 $739,055 $(25,831)$713,224 

Condensed Consolidated Balance Sheets (unaudited)
As of October 27, 2024
(In thousands)As Previously ReportedAdjustmentsAs
Corrected
Merchandise inventories, net$1,450,135 $(53,882)$1,396,253 
Total current assets2,486,781 (53,882)2,432,899 
Total assets4,968,340 (53,882)4,914,458 
Accrued expenses235,146 (19,538)215,608 
Income taxes payable28,400 (8,513)19,887 
Total current liabilities1,845,310 (28,051)1,817,259 
Total liabilities3,061,731 (28,051)3,033,680 
Retained earnings1,377,461 (25,831)1,351,630 
Total stockholders’ equity1,906,609 (25,831)1,880,778 
Total liabilities and stockholders’ equity$4,968,340 $(53,882)$4,914,458 
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, 20241,728,063 2,250,230 
Net earnings248,953 248,953 
Balance at October 27, 2024
1,377,461 1,906,609 
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)
Net earnings(11,691)(11,691)
Balance at October 27, 2024
(25,831)(25,831)
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, 20241,713,923 2,236,090 
Net earnings237,262 237,262 
Balance at October 27, 2024
$1,351,630 $1,880,778 

Condensed Consolidated Statements of Cash Flows (unaudited)
 
For the Thirty-nine Weeks Ended October 27, 2024
(In thousands)As Previously ReportedAdjustmentsAs
Corrected
Cash flows from operating activities:
Net earnings$740,364 $(25,831)$714,533 
Changes in:
Merchandise inventories(203,937)53,882 (150,055)
Accrued expenses and other liabilities(17,060)(19,538)(36,598)
Income taxes payable(68,154)(8,513)(76,667)
Net cash provided by operating activities$726,743 $— $726,743