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Fair Value Measurements (Tables)
 6 Months Ended
Aug. 03, 2024
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Hierarchy for Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following presents the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis (in thousands):
Fair Value MeasurementsFair Value Measurements
 at Aug 3, 2024at Feb 3, 2024
Recurring Fair Value MeasuresLevel 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets:        
Foreign exchange currency contracts$— $990 $— $990 $— $2,278 $— $2,278 
2028 Bond Hedge— — 86,446 86,446 — — 85,918 85,918 
Interest rate swap— — — — — 797 — 797 
Total$— $990 $86,446 $87,436 $— $3,075 $85,918 $88,993 
Liabilities:  
Foreign exchange currency contracts$— $1,015 $— $1,015 $— $1,702 $— $1,702 
Embedded derivative— — 18,900 18,900 — — 16,390 16,390 
Deferred compensation obligations— 18,580 — 18,580 — 17,164 — 17,164 
Total$— $19,595 $18,900 $38,495 $— $18,866 $16,390 $35,256 
Schedule of Measurement Input Assumptions The following assumptions were used within the model:
Valuation AssumptionsAug 3, 2024Feb 3, 2024
Expected volatility30 %30 %
Risk-free interest rate3.7 %4.1 %
Credit spread2.7 %4.3 %
Dividend yield5.3 %5.2 %
Term to maturity3.7 years4.2 years
Stock price$22.43 $22.86 
Schedule of Reconciliation of Level 3 Assets and Liabilities
The following presents a reconciliation of the Company’s financial assets and liabilities measured at fair value as of August 3, 2024, using significant unobservable inputs (Level 3), and the change in fair value recorded in other income (expense), net in the consolidated statements of income (loss) (in thousands):
Embedded Derivative2028 Bond Hedge
Balance as of February 3, 2024$(16,390)$85,918 
  Initial bifurcation of embedded derivative(6,538)— 
  Purchase of Additional 2028 Bond Hedge— 6,538 
  Gain (loss) on fair value remeasurement4,028 (6,010)
Balance as of August 3, 2024$(18,900)$86,446