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Lease Accounting (Tables)

9 Months Ended

Nov. 01, 2025

Leases [Abstract]

Schedule of Assets and Liabilities, Lessee

The components of leases are (in thousands):

			Nov 1, 2025						Feb 1, 2025
Assets												Balance Sheet Location
Operating			$	927,868					$	839,879		Operating lease right-of-use assets
Finance			4,734						7,042			Property and equipment, net
Total lease assets			$	932,602					$	846,921
Liabilities
Current:
Operating			$	183,094					$	176,972		Current portion of operating lease liabilities
Finance			3,280						5,236			Current portion of borrowings and finance lease obligations
Noncurrent:
Operating			795,308						715,755			Long-term operating lease liabilities
Finance			2,528						4,597			Long-term debt and finance lease obligations
Total lease liabilities			$	984,210					$	902,560

Schedule of Lease Costs

The components of lease costs are (in thousands):

			Three Months Ended												Nine Months Ended
			Nov 1, 2025						Nov 2, 2024						Nov 1, 2025						Nov 2, 2024			Income Statement Location
Operating lease costs			$	58,162					$	53,293					$	169,190					$	151,652		Cost of product sales
Operating lease costs			10,358						7,730						29,558						24,820			Selling, general and administrative expenses
Operating lease costs1			231						(718)						(5)						(718)			Net (gains) losses on lease modifications
Finance lease costs
Amortization of leased assets			8						8						24						20			Cost of product sales
Amortization of leased assets			928						753						2,861						3,881			Selling, general and administrative expenses
Interest on lease liabilities			151						120						497						475			Interest expense
Variable lease costs2			26,288						25,361						77,397						74,894			Cost of product sales
Variable lease costs			1,065						932						3,191						3,247			Selling, general and administrative expenses
Short-term lease costs			212						129						528						358			Cost of product sales
Short-term lease costs			2,522						2,071						6,609						6,275			Selling, general and administrative expenses
Total lease costs			$	99,925					$	89,679					$	289,850					$	264,904

______________________________________________________________________

Notes:

1During the three and nine months ended November 1, 2025, net (gains) losses on lease modifications related primarily to the early termination of certain lease agreements. Operating lease costs for these retail locations prior to such early termination were included in cost of product sales.

2During the three and nine months ended November 1, 2025, variable lease costs included certain rent concessions of a minimal amount and approximately $0.3 million, respectively, received by the Company, primarily in Europe. 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.

Schedule of Operating Lease Liabilities Maturity

Maturities of the Company’s operating and finance lease liabilities as of November 1, 2025 are (in thousands):

			Operating Leases
Maturity of Lease Liabilities			Non-Related Parties						Related Parties						Finance Leases						Total
Fiscal 2026			$	55,477					$	1,767					$	881					$	58,125
Fiscal 2027			215,930						9,766						3,369						229,065
Fiscal 2028			181,703						9,685						1,444						192,832
Fiscal 2029			161,539						10,561						339						172,439
Fiscal 2030			122,881						10,033						39						132,953
After fiscal 2030			314,913						73,649						17						388,579
Total lease payments			1,052,443						115,461						6,089						1,173,993
Less: Interest			156,027						33,475						281						189,783
Present value of lease liabilities			$	896,416					$	81,986					$	5,808					$	984,210

Schedule of Finance Lease Liabilities Maturity

Maturities of the Company’s operating and finance lease liabilities as of November 1, 2025 are (in thousands):

			Operating Leases
Maturity of Lease Liabilities			Non-Related Parties						Related Parties						Finance Leases						Total
Fiscal 2026			$	55,477					$	1,767					$	881					$	58,125
Fiscal 2027			215,930						9,766						3,369						229,065
Fiscal 2028			181,703						9,685						1,444						192,832
Fiscal 2029			161,539						10,561						339						172,439
Fiscal 2030			122,881						10,033						39						132,953
After fiscal 2030			314,913						73,649						17						388,579
Total lease payments			1,052,443						115,461						6,089						1,173,993
Less: Interest			156,027						33,475						281						189,783
Present value of lease liabilities			$	896,416					$	81,986					$	5,808					$	984,210

Schedule of Other Supplemental Information

Other supplemental information is (dollars in thousands):

Lease Term and Discount Rate

Nov 1, 2025

Weighted-average remaining lease term

Operating leases

6.7 years

Finance leases

1.9 years

Weighted-average discount rate

Operating leases

5.4%

Finance leases

4.8%

			Nine Months Ended
Supplemental Cash Flow Information			Nov 1, 2025						Nov 2, 2024
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases			$	187,416					$	163,728
New operating ROU assets obtained in exchange for lease liabilities			$	170,460					$	192,543

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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

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-Topic 842
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-Section 50
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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
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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.

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-Section 50
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-URI https://asc.fasb.org/1943274/2147478964/842-20-50-6

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