XML 45 R31.htm IDEA: XBRL DOCUMENT
v3.24.3

Lease Accounting (Tables) | 9 Months Ended
--- | ---
Nov. 02, 2024
Leases [Abstract] |
Schedule of Assets and Liabilities, Lessee | The components of leases are (in thousands):
|  | Nov 2, 2024 |  | Feb 3, 2024 |  |
Assets | Balance Sheet Location |  |  |  |  |
Operating | Operating lease right-of-use assets | $ | 794,066 |  |  | $ | 667,031 |  |  |
Finance | Property and equipment, net | 8,010 |  |  | 15,132 |  |  |
Total lease assets | $ | 802,076 |  |  | $ | 682,163 |  |  |
Liabilities | Balance Sheet Location |  |  |  |  |
Current: |  |  |  |  |  |
Operating | Current portion of operating lease liabilities | $ | 180,835 |  |  | $ | 166,451 |  |  |
Finance | Current portion of borrowings and finance lease obligations | 5,603 |  |  | 5,573 |  |  |
Noncurrent: |  |  |  |  |  |
Operating | Long-term operating lease liabilities | 670,430 |  |  | 542,392 |  |  |
Finance | Long-term debt and finance lease obligations | 5,154 |  |  | 9,857 |  |  |
Total lease liabilities | $ | 862,022 |  |  | $ | 724,273 |  |  |
Schedule of Lease Costs | The components of lease costs are (in thousands):
|  | Three Months Ended |  | Nine Months Ended
| Income Statement Location | Nov 2, 2024 |  | Oct 28, 2023 |  | Nov 2, 2024 |  | Oct 28, 2023
Operating lease costs | Cost of product sales | $ | 53,293 |  |  | $ | 44,964 |  |  | $ | 151,652 |  |  | $ | 136,367 |
Operating lease costs | Selling, general and administrative expenses | 7,730 |  |  | 6,744 |  |  | 24,820 |  |  | 19,941 |
Operating lease costs 1 | Net (gains) losses on lease modifications | (718) |  |  | 537 |  |  | (718) |  |  | (1,894) |
Finance lease costs |  |  |  |  |  |  |  |
Amortization of leased assets | Cost of product sales | 8 |  |  | 9 |  |  | 20 |  |  | 61 |
Amortization of leased assets | Selling, general and administrative expenses | 753 |  |  | 1,635 |  |  | 3,881 |  |  | 4,747 |
Interest on lease liabilities | Interest expense | 120 |  |  | 179 |  |  | 475 |  |  | 577 |
Variable lease costs 2 | Cost of product sales | 25,361 |  |  | 23,400 |  |  | 74,894 |  |  | 71,551 |
Variable lease costs 2 | Selling, general and administrative expenses | 932 |  |  | 804 |  |  | 3,247 |  |  | 2,551 |
Short-term lease costs | Cost of product sales | 129 |  |  | 92 |  |  | 358 |  |  | 241 |
Short-term lease costs | Selling, general and administrative expenses | 2,071 |  |  | 2,015 |  |  | 6,275 |  |  | 4,306 |
Total lease costs | $ | 89,679 |  |  | $ | 80,379 |  |  | $ | 264,904 |  |  | $ | 238,448 |
______________________________________________________________________ Notes: 1 During each of the three and nine months ended November 2, 2024 and October 28, 2023, net (gains) losses on lease modifications related primarily to the early termination of certain lease agreements. Operating lease costs for these locations prior to the early termination were included in cost of product sales. 2 During the three and nine months ended November 2, 2024, variable lease costs included certain rent concessions of approximately $0.2 million and $0.5 million, respectively, received by the Company, primarily in Europe. During the three and nine months ended October 28, 2023, variable lease costs included certain rent concessions of approximately $0.4 million and $1.4 million, respectively, received by the Company, primarily in Europe.
Schedule of Operating Lease Liabilities Maturity | Maturities of the Company’s operating and finance lease liabilities as of November 2, 2024 are (in thousands):
| Operating Leases |  |  |  |  |  |
Maturity of Lease Liabilities | Non-Related Parties |  | Related Parties |  | Finance Leases |  | Total |  |
Fiscal 2025 | $ | 67,282 |  |  | $ | 1,934 |  |  | $ | 816 |  |  | $ | 70,032 |  |  |
Fiscal 2026 | 177,476 |  |  | 7,218 |  |  | 5,696 |  |  | 190,390 |  |  |
Fiscal 2027 | 161,172 |  |  | 7,780 |  |  | 3,184 |  |  | 172,136 |  |  |
Fiscal 2028 | 132,696 |  |  | 7,703 |  |  | 1,353 |  |  | 141,752 |  |  |
Fiscal 2029 | 117,440 |  |  | 8,468 |  |  | 294 |  |  | 126,202 |  |  |
After fiscal 2029 | 300,818 |  |  | 12,329 |  |  | 3 |  |  | 313,150 |  |  |
Total lease payments | 956,884 |  |  | 45,432 |  |  | 11,346 |  |  | 1,013,662 |  |  |
Less: Interest | 142,591 |  |  | 8,460 |  |  | 589 |  |  | 151,640 |  |  |
Present value of lease liabilities | $ | 814,293 |  |  | $ | 36,972 |  |  | $ | 10,757 |  |  | $ | 862,022 |  |  |
Schedule of Finance Lease Liabilities Maturity | Maturities of the Company’s operating and finance lease liabilities as of November 2, 2024 are (in thousands):
| Operating Leases |  |  |  |  |  |
Maturity of Lease Liabilities | Non-Related Parties |  | Related Parties |  | Finance Leases |  | Total |  |
Fiscal 2025 | $ | 67,282 |  |  | $ | 1,934 |  |  | $ | 816 |  |  | $ | 70,032 |  |  |
Fiscal 2026 | 177,476 |  |  | 7,218 |  |  | 5,696 |  |  | 190,390 |  |  |
Fiscal 2027 | 161,172 |  |  | 7,780 |  |  | 3,184 |  |  | 172,136 |  |  |
Fiscal 2028 | 132,696 |  |  | 7,703 |  |  | 1,353 |  |  | 141,752 |  |  |
Fiscal 2029 | 117,440 |  |  | 8,468 |  |  | 294 |  |  | 126,202 |  |  |
After fiscal 2029 | 300,818 |  |  | 12,329 |  |  | 3 |  |  | 313,150 |  |  |
Total lease payments | 956,884 |  |  | 45,432 |  |  | 11,346 |  |  | 1,013,662 |  |  |
Less: Interest | 142,591 |  |  | 8,460 |  |  | 589 |  |  | 151,640 |  |  |
Present value of lease liabilities | $ | 814,293 |  |  | $ | 36,972 |  |  | $ | 10,757 |  |  | $ | 862,022 |  |  |
Schedule of Other Supplemental Information | Other supplemental information is (in thousands):
Lease Term and Discount Rate | Nov 2, 2024 |  |  |  |  |  |
Weighted-average remaining lease term |  |  |  |  |  |  |
Operating leases | 6.4 years |  |  |  |  |  |
Finance leases | 2.6 years |  |  |  |  |  |
Weighted-average discount rate |  |  |  |  |  |  |
Operating leases | 5.2% |  |  |  |  |  |
Finance leases | 4.1% |  |  |  |  |  |
| Nine Months Ended
Supplemental Cash Flow Information | Nov 2, 2024 |  | Oct 28, 2023
Cash paid for amounts included in the measurement of lease liabilities |  |  |
Operating cash flows from operating leases | $ | 163,728 |  |  | $ | 155,379 |
New operating ROU assets obtained in exchange for lease liabilities | $ | 192,543 |  |  | $ | 128,756 |

X
- Definition Assets And Liabilities, Lessee [Table Text Block] + References No definition available. + Details
Name: | ges_AssetsAndLiabilitiesLesseeTableTextBlock
Namespace Prefix: | ges_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents other supplemental lease information for lessees. + References No definition available. + Details
Name: | ges_LesseeOtherSupplementalInformationTableTextBlock
Namespace Prefix: | ges_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
Name: | us-gaap_FinanceLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
Name: | us-gaap_LeaseCostTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
Name: | us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration