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Leases
9 Months Ended
Oct. 29, 2022
Leases [Abstract]  
Leases

Note 7 – Leases

We lease all of our physical stores, our single distribution center, which has a current lease term expiring in 2034, and certain other locations that support the recently acquired Shoe Station operations. We also enter into leases of equipment, copiers and billboards. All of our leases are operating leases. Leases with terms of twelve months or less are immaterial and are expensed as incurred, and we did not have any leases with related parties as of October 29, 2022.

Lease costs, including related common area maintenance (“CAM”), property taxes, and insurance, reported in our Condensed Consolidated Statements of Income were as follows for the thirteen and thirty-nine weeks ended October 29, 2022 and October 30, 2021:

 

 

 

Thirteen
Weeks Ended

 

 

Thirteen
Weeks Ended

 

 

Thirty-nine
Weeks Ended

 

 

Thirty-nine
Weeks Ended

 

(In thousands)

 

October 29, 2022

 

 

October 30, 2021

 

 

October 29, 2022

 

 

October 30, 2021

 

Operating lease cost

 

$

15,398

 

 

$

13,520

 

 

$

45,040

 

 

$

40,272

 

Variable lease cost

 

 

 

 

 

 

 

 

 

 

 

 

   CAM, property taxes and insurance

 

 

4,876

 

 

 

4,746

 

 

 

14,305

 

 

 

14,375

 

   Percentage rent and other variable lease costs

 

 

479

 

 

 

713

 

 

 

973

 

 

 

2,413

 

Total

 

$

20,753

 

 

$

18,979

 

 

$

60,318

 

 

$

57,060