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Leases | 3 Months Ended
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May 03, 2026
Leases [Abstract] |
Leases | 2. LEASES The expense components of the Company’s leases reflected on the Company’s condensed consolidated statement of operations were as follows:
|  | Consolidated Statement |  | Three Months Ended |
|  | of Operations |  | May 3, 2026 |  |  | May 4, 2025 |
(in thousands) |  |  |  |  |  |  |  |
Finance lease expense |  |  |  |  |  |  |  |
Amortization of right-of- use assets |  | Selling, general and administrative expenses |  | $ | 722 |  |  | $ | 722 |
Interest on lease liabilities |  | Interest expense |  |  | 339 |  |  |  | 368 |
Total finance lease expense |  |  |  | $ | 1,061 |  |  | $ | 1,090 |
Operating lease expense |  | Selling, general and administrative expenses |  | $ | 4,871 |  |  | $ | 4,898 |
Amortization of build-to- suit leases capital contribution |  | Selling, general and administrative expenses |  |  | 321 |  |  |  | 321 |
Variable lease expense |  | Selling, general and administrative expenses |  |  | 3,061 |  |  |  | 2,801 |
Total lease expense |  |  |  | $ | 9,314 |  |  | $ | 9,110 |
Other information related to leases were as follows:
|  | Three Months Ended |
|  | May 3, 2026 |  |  | May 4, 2025 |
(in thousands) |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Financing cash flows from finance leases |  | $ | 659 |  |  | $ | 622 |
Operating cash flows from finance leases |  | $ | 339 |  |  | $ | 368 |
Operating cash flows from operating leases |  | $ | 5,061 |  |  | $ | 4,921 |
Right-of-use assets obtained in exchange for lease liabilities: |  |  |  |  |  |
Operating leases |  | $ | 144 |  |  | $ | 1,398 |
Weighted-average remaining lease term (in years): |  |  |  |  |  |
Finance leases |  |  | 9 |  |  |  | 10 |
Operating leases |  |  | 6 |  |  |  | 6 |
Weighted-average discount rate: |  |  |  |  |  |
Finance leases |  |  | 4.5 | % |  |  | 4.5 | %
Operating leases |  |  | 4.7 | % |  |  | 4.4 | %
Future minimum lease payments under the non-cancellable leases are as follows as of May 3, 2026:
Fiscal year |  | Finance |  |  | Operating |
(in thousands) |  |  |  |  |  |
2026 (remainder of fiscal year) |  | $ | 2,995 |  |  | $ | 15,288 |
2027 |  |  | 3,993 |  |  |  | 19,182 |
2028 |  |  | 4,017 |  |  |  | 17,276 |
2029 |  |  | 4,217 |  |  |  | 14,638 |
2030 |  |  | 4,369 |  |  |  | 13,470 |
Thereafter |  |  | 16,628 |  |  |  | 20,947 |
Total future minimum lease payments |  | $ | 36,219 |  |  | $ | 100,801 |
Less – Discount |  |  | (6,257 | ) |  |  | (12,224 | )
Lease liability |  | $ | 29,962 |  |  | $ | 88,577 |
In the first quarter of 2026, the Company recorded an impairment charge of $2.7 million, which consisted of a right-of-use asset of $2.0 million and associated leasehold improvements of $0.7 million relating to the closure of the Salt Lake City fulfillment center as discussed in further detail in Note 13. The Company performed a recoverability test on the asset group. This test indicated that the carrying amount of the asset was not recoverable, as it exceeded the sum of the future undiscounted cash flows expected to result from the use and eventual disposition of the assets. Consequently, the Company proceeded to measure the impairment loss by comparing the asset group's carrying amount to its fair value. The fair value, which is considered to be a level 3 non-recurring fair value measurement, was determined using a discounted cash flow analysis (an income approach). The discounted cash flow analysis utilized level 3 fair value inputs including cash flow projections and discount rates. The resulting impairment charge of $2.7 million represents the amount by which the carrying value exceeded the calculated fair value. The impairment charge recorded is included in impairment of long-lived assets in the Company's condensed consolidated statement of operations for the three months ended May 3, 2026.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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