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LEASES (Tables) | 3 Months Ended
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May 01, 2021
Leases [Abstract] |
Lease, Cost | The following components of lease expense are included in the Company’s consolidated statements of operations.
| Thirteen Weeks Ended
| May 1, 2021 |  | May 2, 2020
| (in thousands)
Operating lease cost | $ | 25,758 |  |  | $ | 40,152 |
Variable lease cost (1) | 3,374 |  |  | 11,133 |
Total lease cost | $ | 29,132 |  |  | $ | 51,285 |
____________________________________________ (1) Includes short term leases with lease periods of less than 12 months as well as lease abatements accounted for as reductions to variable lease costs under the COVID-19 expedient of approximately $8.0 million during the First Quarter 2021.
Lessee, Operating Lease, Liability, Maturity | As of May 1, 2021, the maturities of lease liabilities were as follows:
| May 1, 2021
| (in thousands)
Remainder of 2021 | $ | 115,443 |  |  |
2022 | 75,101 |  |  |
2023 | 49,940 |  |  |
2024 | 28,330 |  |  |
2025 | 18,877 |  |  |
Thereafter | 53,001 |  |  |
Total lease payments (1) | $ | 340,692 |  |  |
Less: imputed interest | $ | (16,185) |  |  |
Present value of lease liabilities | $ | 324,507 |  |  |
____________________________________________ (1)For leases in which the Company applied the COVID-19 expedient, it did not remeasure its ROU assets and lease liabilities for rent concessions specific to Fiscal 2021 and beyond. These amounts will be recognized as variable rent costs in future periods in the amount of $26.9 million.

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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details
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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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