XML 25 R15.htm IDEA: XBRL DOCUMENT v3.23.3
Leases
9 Months Ended
Oct. 28, 2023
Leases [Abstract]  
Leases

Note 6 – Leases

We lease all of our physical stores, our single distribution center, which has a current lease term expiring in 2034, and office space for our Southern office. We also enter into leases of equipment, copiers and billboards. All of our leases are operating leases. Leases with terms of twelve months or less are immaterial and are expensed as incurred, and we did not have any leases with related parties as of October 28, 2023.

Lease costs, including other related occupancy costs, reported in our Condensed Consolidated Statements of Income were as follows for the thirteen and thirty-nine weeks ended October 28, 2023 and October 29, 2022:

 

(In thousands)

 

Thirteen
Weeks Ended
October 28, 2023

 

 

Thirteen
Weeks Ended
October 29, 2022

 

 

Thirty-nine
Weeks Ended
October 28, 2023

 

 

Thirty-nine
Weeks Ended
October 29, 2022

 

Operating lease cost

 

$

16,035

 

 

$

15,398

 

 

$

47,860

 

 

$

45,040

 

Variable lease cost

 

 

 

 

 

 

 

 

 

 

 

 

   Occupancy costs

 

 

5,299

 

 

 

4,876

 

 

 

16,021

 

 

 

14,305

 

   Percentage rent and other variable lease costs

 

 

395

 

 

 

479

 

 

 

1,019

 

 

 

973

 

Total

 

$

21,729

 

 

$

20,753

 

 

$

64,900

 

 

$

60,318