Supplier finance program

12 Months Ended

Feb. 01, 2025

Supplier finance program

The Company entered into a supplier finance program during Fiscal 2024. Under this program, a financial intermediary acts as the Company’s paying agent with respect to accounts payable due to certain suppliers. The Company agrees to pay the financial intermediary the stated amount of the confirmed invoices from the designated suppliers on the original maturity dates of the invoices. The supplier finance program enables Company suppliers to be paid by the financial intermediary earlier than the due date on the applicable invoice. The Company negotiates payment terms directly with its suppliers for the purchase of goods and services. No guarantees or collateral are provided by the Company under the supplier finance program. All activity related to the supplier finance program is included in accounts payable in the consolidated balance sheets and within operating activities in the consolidated statements of cash flows.

The following table is a rollforward of the outstanding obligations for the Company’s supplier finance program:


(in millions)	Fiscal 2025
Confirmed obligations outstanding, beginning of period	$	7.8
Invoices confirmed	44.2
Invoices paid	(39.1)
Confirmed obligations outstanding, end of period	$	12.9