XML 31 R20.htm IDEA: XBRL DOCUMENT
v3.25.3

IMMATERIAL CORRECTION OF 2024 INTERIM PERIOD CONDENSED CONSOLIDATED FINANCIAL STATEMENTS | 9 Months Ended
--- | ---
Nov. 02, 2025
Accounting Changes and Error Corrections [Abstract] |
IMMATERIAL CORRECTION OF 2024 INTERIM PERIOD CONDENSED CONSOLIDATED FINANCIAL STATEMENTS | IMMATERIAL CORRECTION OF 2024 INTERIM PERIOD CONDENSED CONSOLIDATED FINANCIAL STATEMENTS In connection with our fiscal 2024 year-end close process, we identified that we did not timely record shrink losses for certain inventories not ultimately received, which also impacted our bonus accrual, in the first three quarters of fiscal 2024. Therefore, our previously issued interim financial statements for the first three quarters of fiscal 2024 did not reflect these adjustments. We properly accounted for this matter in our fiscal 2024 annual Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended February 2, 2025. Management evaluated the materiality of the above items based on an analysis of quantitative and qualitative factors and concluded they were not material to the interim periods of fiscal 2024, individually or in aggregate. The following tables reflect the effects of the correction on all affected line items of our previously reported Condensed Consolidated Financial Statements for the thirteen and thirty-nine weeks ended October 27, 2024: Condensed Consolidated Statements of Earnings (unaudited)
| For the Thirteen Weeks Ended |  | For the Thirty-nine Weeks Ended
| October 27, 2024 |  | October 27, 2024
(In thousands, except per share amounts) | As Previously Reported |  | Adjustments |  | As Corrected |  | As Previously Reported |  | Adjustments |  | As Corrected
Cost of goods sold | $ | 958,953 |  |  | $ | 24,149 |  |  | $ | 983,102 |  |  | $ | 2,778,767 |  |  | $ | 53,882 |  |  | $ | 2,832,649 |
Gross profit | 841,715 |  |  | (24,149) |  |  | 817,566 |  |  | 2,470,556 |  |  | (53,882) |  |  | 2,416,674 |
Selling, general and administrative expenses | 521,072 |  |  | (8,537) |  |  | 512,535 |  |  | 1,536,169 |  |  | (19,538) |  |  | 1,516,631 |
Operating income | 320,643 |  |  | (15,612) |  |  | 305,031 |  |  | 934,387 |  |  | (34,344) |  |  | 900,043 |
Earnings before income taxes | 332,445 |  |  | (15,612) |  |  | 316,833 |  |  | 977,450 |  |  | (34,344) |  |  | 943,106 |
Income taxes | 83,492 |  |  | (3,921) |  |  | 79,571 |  |  | 237,086 |  |  | (8,513) |  |  | 228,573 |
Net earnings | $ | 248,953 |  |  | $ | (11,691) |  |  | $ | 237,262 |  |  | $ | 740,364 |  |  | $ | (25,831) |  |  | $ | 714,533 |
Basic earnings per share | $ | 1.99 |  |  | $ | (0.10) |  |  | $ | 1.89 |  |  | $ | 5.81 |  |  | $ | (0.20) |  |  | $ | 5.61 |
Diluted earnings per share | $ | 1.96 |  |  | $ | (0.09) |  |  | $ | 1.87 |  |  | $ | 5.74 |  |  | $ | (0.20) |  |  | $ | 5.54 |
Condensed Consolidated Statements of Comprehensive Income (unaudited)
| For the Thirteen Weeks Ended October 27, 2024 |  | For the Thirty-nine Weeks Ended October 27, 2024
(In thousands) | As Previously Reported |  | Adjustments |  | As Corrected |  | As Previously Reported |  | Adjustments |  | As Corrected
Net earnings | $ | 248,953 |  |  | $ | (11,691) |  |  | $ | 237,262 |  |  | $ | 740,364 |  |  | $ | (25,831) |  |  | $ | 714,533 |
Comprehensive income | $ | 248,940 |  |  | $ | (11,691) |  |  | $ | 237,249 |  |  | $ | 739,055 |  |  | $ | (25,831) |  |  | $ | 713,224 |
Condensed Consolidated Balance Sheets (unaudited)
| As of October 27, 2024
(In thousands) | As Previously Reported |  | Adjustments |  | As Corrected
Merchandise inventories, net | $ | 1,450,135 |  |  | $ | (53,882) |  |  | $ | 1,396,253 |
Total current assets | 2,486,781 |  |  | (53,882) |  |  | 2,432,899 |
Total assets | 4,968,340 |  |  | (53,882) |  |  | 4,914,458 |
Accrued expenses | 235,146 |  |  | (19,538) |  |  | 215,608 |
Income taxes payable | 28,400 |  |  | (8,513) |  |  | 19,887 |
Total current liabilities | 1,845,310 |  |  | (28,051) |  |  | 1,817,259 |
Total liabilities | 3,061,731 |  |  | (28,051) |  |  | 3,033,680 |
Retained earnings | 1,377,461 |  |  | (25,831) |  |  | 1,351,630 |
Total stockholders’ equity | 1,906,609 |  |  | (25,831) |  |  | 1,880,778 |
Total liabilities and stockholders’ equity | $ | 4,968,340 |  |  | $ | (53,882) |  |  | $ | 4,914,458 |
Condensed Consolidated Statements of Stockholders' Equity (unaudited)
| Retained Earnings |  | Total Stockholders’ Equity
(In thousands) |
As Previously Reported |  |  |
Balance at January 28, 2024 | $ | 1,555,595 |  |  | $ | 2,127,861 |
Net earnings | 265,666 |  |  | 265,666 |
Balance at April 28, 2024 | 1,704,409 |  |  | 2,209,558 |
Net earnings | 225,745 |  |  | 225,745 |
Balance at July 28, 2024 | 1,728,063 |  |  | 2,250,230 |
Net earnings | 248,953 |  |  | 248,953 |
Balance at October 27, 2024 | 1,377,461 |  |  | 1,906,609 |
Adjustments |  |  |
Net earnings | (5,250) |  |  | (5,250) |
Balance at April 28, 2024 | (5,250) |  |  | (5,250) |
Net earnings | (8,890) |  |  | (8,890) |
Balance at July 28, 2024 | (14,140) |  |  | (14,140) |
Net earnings | (11,691) |  |  | (11,691) |
Balance at October 27, 2024 | (25,831) |  |  | (25,831) |
As Corrected |  |  |
Balance at January 28, 2024 | 1,555,595 |  |  | 2,127,861 |
Net earnings | 260,416 |  |  | 260,416 |
Balance at April 28, 2024 | 1,699,159 |  |  | 2,204,308 |
Net earnings | 216,855 |  |  | 216,855 |
Balance at July 28, 2024 | 1,713,923 |  |  | 2,236,090 |
Net earnings | 237,262 |  |  | 237,262 |
Balance at October 27, 2024 | $ | 1,351,630 |  |  | $ | 1,880,778 |
Condensed Consolidated Statements of Cash Flows (unaudited)
| For the Thirty-nine Weeks Ended October 27, 2024
(In thousands) | As Previously Reported |  | Adjustments |  | As Corrected
Cash flows from operating activities: |  |  |  |  |
Net earnings | $ | 740,364 |  |  | $ | (25,831) |  |  | $ | 714,533 |
Changes in: |  |  |  |  |
Merchandise inventories | (203,937) |  |  | 53,882 |  |  | (150,055) |
Accrued expenses and other liabilities | (17,060) |  |  | (19,538) |  |  | (36,598) |
Income taxes payable | (68,154) |  |  | (8,513) |  |  | (76,667) |
Net cash provided by operating activities | $ | 726,743 |  |  | $ | — |  |  | $ | 726,743 |

X
- References No definition available. + Details
Name: | us-gaap_AccountingChangesAndErrorCorrectionsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting error correction. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-7 + Details
Name: | us-gaap_ErrorCorrectionTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration