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Segment and Geographic Information | 12 Months Ended
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Feb. 28, 2026
Segment Reporting [Abstract] |
Segment and Geographic Information | Note 17 - Segment and Geographic Information Segment Information We operate through two strategic business divisions, each comprised of operating segments organized by our brands and product lines. Operating segments with similar economic and qualitative characteristics are aggregated into our two reportable segments, which align with our strategic business divisions. Our two reportable segments consist of Home & Outdoor and Beauty & Wellness. The Olive & June brand and products were added to the Beauty & Wellness segment upon the completion of the acquisition. For additional information on our segments refer to Note 1 and Item 1., “Business,” included within this Annual Report. Segment financial information is prepared in accordance with GAAP and our significant accounting policies described in Note 1. Resources are allocated and performance is assessed using segment operating income by our Chief Executive Officer, whom we have determined to be our Chief Operating Decision Maker (“CODM”). Our CODM utilizes segment operating income when making decisions about allocating capital and personnel to the segments, predominantly in the annual budget and quarterly forecasting processes. In addition, our CODM uses operating income, including comparison of actual results to budget and forecast, in assessing the performance of each segment and in evaluating product pricing, distribution strategies and marketing investments. Our CODM reviews balance sheet information at a consolidated level. We compute segment operating income based on net sales revenue, less cost of goods sold, SG&A, asset impairment charges and restructuring charges. The SG&A used to compute each segment’s operating income is directly associated with the segment, plus shared services and corporate overhead expenses that are allocable to the segment. We do not allocate non-operating income and expense, including interest or income taxes, to operating segments. The following tables summarize reportable segment information with a reconciliation to our consolidated results for the periods presented:
| Fiscal Year Ended February 28, 2026
(in thousands) | Home & Outdoor |  |  |  |  |  | Beauty & Wellness (1) |  | Total
Sales revenue, net | $ | 832,870 |  |  |  |  |  |  | $ | 953,420 |  |  | $ | 1,786,290 |
Less: (2) |  |  |  |  |  |  |  |  |
Cost of goods sold | 428,182 |  |  |  |  |  |  | 542,414 |  |  | 970,596 |
Operating expense (3) | 674,432 |  |  |  |  |  |  | 923,343 |  |  | 1,597,775 |
Operating loss | $ | (269,744) |  |  |  |  |  |  | $ | (512,337) |  |  | $ | (782,081) |
Non-operating income, net |  |  |  |  |  |  |  |  | 982 |
Interest expense |  |  |  |  |  |  |  |  | 57,739 |
Loss before income tax |  |  |  |  |  |  |  |  | $ | (838,838) |
| Fiscal Year Ended February 28, 2025
(in thousands) | Home & Outdoor |  |  |  |  |  | Beauty & Wellness (1) |  | Total
Sales revenue, net | $ | 906,331 |  |  |  |  |  |  | $ | 1,001,334 |  |  | $ | 1,907,665 |
Less: (2) |  |  |  |  |  |  |  |  |
Cost of goods sold | 431,924 |  |  |  |  |  |  | 561,335 |  |  | 993,259 |
Operating expense (3) | 354,806 |  |  |  |  |  |  | 416,852 |  |  | 771,658 |
Operating income | $ | 119,601 |  |  |  |  |  |  | $ | 23,147 |  |  | $ | 142,748 |
Non-operating income, net |  |  |  |  |  |  |  |  | 838 |
Interest expense |  |  |  |  |  |  |  |  | 51,922 |
Income before income tax |  |  |  |  |  |  |  |  | $ | 91,664 |
| Fiscal Year Ended February 29, 2024
(in thousands) | Home & Outdoor |  |  |  |  |  | Beauty & Wellness |  | Total
Sales revenue, net | $ | 916,381 |  |  |  |  |  |  | $ | 1,088,669 |  |  | $ | 2,005,050 |
Less: (2) |  |  |  |  |  |  |  |  |
Cost of goods sold | 440,737 |  |  |  |  |  |  | 615,653 |  |  | 1,056,390 |
Operating expense (3) | 332,912 |  |  |  |  |  |  | 355,159 |  |  | 688,071 |
Operating income | $ | 142,732 |  |  |  |  |  |  | $ | 117,857 |  |  | $ | 260,589 |
Non-operating income, net |  |  |  |  |  |  |  |  | 1,518 |
Interest expense |  |  |  |  |  |  |  |  | 53,065 |
Income before income tax |  |  |  |  |  |  |  |  | $ | 209,042 |
(1)Fiscal 2026 includes a full year of operating results from Olive & June, acquired on December 16, 2024, compared to approximately eleven weeks of operating results in fiscal 2025. For additional information see Note 6. (2)These significant expense categories and amounts align with the reportable segment information that is regularly provided to the CODM. (3)Operating expense for both reportable segments includes SG&A expense and restructuring charges. Fiscal 2026 operating expense also includes asset impairment charges of $885.9 million, of which $332.6 million and $553.3 million was recognized in our Home & Outdoor and Beauty & Wellness segments, respectively. Fiscal 2025 operating expense also includes asset impairment charges of $51.5 million in our Beauty & Wellness segment. See Note 7 for further information on the asset impairment charges. The following tables summarize reportable segment information for the periods presented:
| Fiscal Year Ended February 28, 2026
(in thousands) | Home & Outdoor |  |  |  |  |  | Beauty & Wellness (1) |  | Total
Capital and intangible asset expenditures | $ | 18,089 |  |  |  |  |  |  | $ | 21,137 |  |  | $ | 39,226 |
Depreciation and amortization | 24,597 |  |  |  |  |  |  | 28,698 |  |  | 53,295 |
Non-cash share-based compensation | 6,781 |  |  |  |  |  |  | 10,104 |  |  | 16,885 |
Asset impairment charges | 332,565 |  |  |  |  |  |  | 553,296 |  |  | 885,861 |
| Fiscal Year Ended February 28, 2025
(in thousands) | Home & Outdoor |  |  |  |  |  | Beauty & Wellness (1) |  | Total
Capital and intangible asset expenditures | $ | 14,275 |  |  |  |  |  |  | $ | 15,797 |  |  | $ | 30,072 |
Depreciation and amortization | 26,088 |  |  |  |  |  |  | 28,960 |  |  | 55,048 |
Non-cash share-based compensation | 10,402 |  |  |  |  |  |  | 10,974 |  |  | 21,376 |
Asset impairment charges | — |  |  |  |  |  |  | 51,455 |  |  | 51,455 |
| Fiscal Year Ended February 29, 2024
(in thousands) | Home & Outdoor |  |  |  |  |  | Beauty & Wellness |  | Total
Capital and intangible asset expenditures | $ | 28,012 |  |  |  |  |  |  | $ | 8,632 |  |  | $ | 36,644 |
Depreciation and amortization | 24,595 |  |  |  |  |  |  | 26,904 |  |  | 51,499 |
Non-cash share-based compensation | 16,319 |  |  |  |  |  |  | 17,553 |  |  | 33,872 |
(1)Fiscal 2026 includes a full year of operating results from Olive & June, acquired on December 16, 2024, compared to approximately eleven weeks of operating results in fiscal 2025. For additional information see Note 6. Geographic Information The following table presents net sales revenue by geographic region, in U.S. Dollars. Net sales are attributed to countries based on the customer’s location.
| Fiscal Years Ended Last Day of February, |  |  |  |
(in thousands) | 2026 |  | 2025 |  | 2024 |  |  |  |  |  |  |
U.S. | $ | 1,278,045 |  |  | 71.5 | % |  | $ | 1,356,750 |  |  | 71.1 | % |  | $ | 1,478,134 |  |  | 73.7 | % |  |  |  |  |  |  |
Canada | 74,004 |  |  | 4.2 | % |  | 82,501 |  |  | 4.3 | % |  | 82,122 |  |  | 4.1 | % |  |  |  |  |  |  |
EMEA | 293,260 |  |  | 16.4 | % |  | 294,954 |  |  | 15.5 | % |  | 284,434 |  |  | 14.2 | % |  |  |  |  |  |  |
Asia Pacific | 107,112 |  |  | 6.0 | % |  | 125,426 |  |  | 6.6 | % |  | 116,157 |  |  | 5.8 | % |  |  |  |  |  |  |
Latin America | 33,869 |  |  | 1.9 | % |  | 48,034 |  |  | 2.5 | % |  | 44,203 |  |  | 2.2 | % |  |  |  |  |  |  |
Total sales revenue, net | $ | 1,786,290 |  |  | 100.0 | % |  | $ | 1,907,665 |  |  | 100.0 | % |  | $ | 2,005,050 |  |  | 100.0 | % |  |  |  |  |  |  |
Worldwide sales to our largest customer, Amazon.com Inc., accounted for approximately 20%, 22% and 21% of our consolidated net sales revenue in fiscal 2026, 2025 and 2024, respectively. Sales to our second largest customer, Walmart, Inc., including its worldwide affiliates, accounted for approximately 13%, 11% and 9% of our consolidated net sales revenue in fiscal 2026, 2025, and 2024, respectively. Sales to our third largest customer, Target Corporation, accounted for approximately 12%, 11% and 10% of our consolidated net sales revenue in fiscal 2026, 2025 and 2024, respectively. Sales to these largest customers include sales across both of our business segments. No other customers accounted for 10% or more of consolidated net sales revenue during these fiscal years. Sales to our top five customers accounted for approximately 50%, 49% and 47% of our consolidated net sales revenue in fiscal 2026, 2025 and 2024, respectively. Our U.S. and international long-lived assets were as follows:
(in thousands) | February 28, 2026 |  | February 28, 2025 |  |
U.S. | $ | 331,517 |  |  | $ | 342,033 |  |  |
International | 25,875 |  |  | 23,059 |  |  |
Total | $ | 357,392 |  |  | $ | 365,092 |  |  |
The table above classifies assets based upon the country where they are physically located. Long-lived assets included in the table above include property and equipment and operating lease assets.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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