Quarterly Results of Operations and Seasonality (Unaudited)

12 Months Ended

Feb. 01, 2025

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations and Seasonality

Quarterly Results of Operations and Seasonality (Unaudited)

Quarterly financial results for fiscal 2024 and fiscal 2023 were as follows (in thousands except for per share data):


	Fiscal Year 2024 (1)								Fiscal Year 2023 (1)
	Fourth Quarter		Third Quarter		Second Quarter		First Quarter		Fourth Quarter		Third Quarter		Second Quarter		First Quarter
Net sales	$	1,390,885	$	843,710	$	830,069	$	811,863	$	1,337,736	$	736,405	$	758,981	$	726,247
Operating income	$	246,764	$	(606)	$	41,509	$	36,150	$	268,442	$	16,123	$	58,594	$	42,412
Net income	$	187,457	$	1,687	$	33,000	$	31,467	$	202,199	$	14,594	$	46,835	$	37,478














Basic income per common share	$	3.41	$	0.03	$	0.60	$	0.57	$	3.66	$	0.26	$	0.84	$	0.67
Diluted income per common share	$	3.39	$	0.03	$	0.60	$	0.57	$	3.65	$	0.26	$	0.84	$	0.67

(1)The sum of the quarterly per share amounts may not equal per share amounts reported for the fiscal year due to rounding.

The Company's business is seasonal in nature and demand is generally the highest in the fourth fiscal quarter due to the fourth quarter holiday season and, therefore, operating results for any fiscal quarter are not necessarily indicative of results for the full fiscal year. To prepare for the holiday season, the Company must order and keep in stock more merchandise than it carries during other parts of the year. The Company expects inventory levels, along with an increase in accounts payable and accrued expenses, generally to reach their highest levels in the third and fourth fiscal quarters in anticipation of the increased net sales during the year-end holiday season. As a result of this seasonality, and generally because of variation in consumer spending habits, the Company experiences fluctuations in net sales and working capital requirements during the fiscal year.