Leases

12 Months Ended

Jan. 31, 2025

Leases [Abstract]

Leases

NOTE 4. LEASES

The following table summarizes the Company’s components of lease expense, primarily related to Company Operated stores, which is included in Selling and administrative expense in the Consolidated Statements of Operations:

(in thousands)	Fiscal 2024		Fiscal 2023		Fiscal 2022
Operating lease expense	$	5,718	$	6,340	$	7,466
Variable lease expense		2,529		2,572		2,714
Total lease expense	$	8,247	$	8,912	$	10,180

Short-term lease cost was $1.4 million for Fiscal 2024. Short-term lease cost was not material for Fiscal 2023 or Fiscal 2022.

Supplemental balance sheet information related to operating leases are as follows:

($'s in thousands)	Fiscal 2024			Fiscal 2023
Operating lease right-of-use asset	$	20,373		$	23,438
Lease liability – current	$	4,534		$	6,024
Lease liability – long-term	$	20,007		$	22,952
Weighted average remaining lease term in years		5.3			5.7
Weighted average discount rate		6.71	%		6.62	%

Supplemental cash flow information related to operating leases are as follows:

(in thousands)	Fiscal 2024		Fiscal 2023			Fiscal 2022
Operating cash outflows from operating leases	$	7,980	$	8,060		$	9,154
Operating lease right-of-use-assets (reversal) obtained in exchange for lease liabilities		302		(2,236	)		4,440

Maturities of operating lease liabilities as of January 31, 2025 are as follows:

(in thousands)
2025	$	6,006
2026		5,767
2027		5,620
2028		4,864
2029		3,532
Thereafter		3,294
Total operating lease payments		29,083
Less imputed interest		4,542
Present value of lease liabilities	$	24,541