Financing Activities

6 Months Ended

Aug. 03, 2024

Debt Disclosure [Abstract]

Financing Activities

Financing Activities

The Company did not borrow or repay any debt, outside of capital lease activity, during both the 26 weeks ended August 3, 2024 and July 29, 2023.

The Company is party to an ABL Credit Facility with certain financial institutions providing for a $3,000 million asset-based credit facility (the "ABL Credit Facility"). As of August 3, 2024 and July 29, 2023, the Company had $144 million and $138 million of standby letters of credit outstanding under the ABL Credit Facility, respectively, which reduced the available borrowing capacity to $2,856 million and $2,862 million, respectively. The Company had no outstanding borrowings under the ABL Credit Facility as of August 3, 2024 and July 29, 2023.

During the 26 weeks ended August 3, 2024 the Company did not repurchase shares of its common stock. During the 26 weeks ended July 29, 2023, the Company repurchased approximately 1.4 million shares of its common stock pursuant to its existing stock purchase authorization for a total of approximately $25 million.