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Leases

3 Months Ended

Apr. 28, 2024

9. Leases

We have operating leases for warehouses, showrooms, manufacturing facilities, offices and equipment. We recognized sublease income of $53,000 and $29,000 in the first quarters of fiscal 2025 and 2024, respectively.

The components of lease cost and supplemental cash flow information for leases for the first quarters of fiscal 2025 and 2024 were:

	Thirteen Weeks Ended
	April 28, 2024		April 30, 2023
Operating lease cost	$	2,526	$	2,838
Variable lease cost		105		82
Short-term lease cost		116		79
Total operating lease cost	$	2,747	$	2,999


Operating cash outflows	$	2,608	$	2,694

The right-of-use assets and lease liabilities recorded on our condensed consolidated balance sheets as of April 28, 2024 and January 28, 2024 were as follows:

	April 28, 2024		January 28, 2024
Real estate	$	48,483	$	49,968
Property and equipment		748		833
Total operating leases right-of-use assets	$	49,231	$	50,801


Current portion of operating lease liabilities	$	7,085	$	6,964
Long term operating lease liabilities		44,864		46,414
Total operating lease liabilities	$	51,949	$	53,378

The weighted-average discount rate is 5.18%. The weighted-average remaining lease term is 6.9 years.

The following table reconciles the undiscounted future lease payments for operating leases to the operating lease liabilities recorded in the condensed consolidated balance sheets on April 28, 2024:

	Undiscounted Future Operating Lease Payments
Remainder of fiscal 2025	$	7,194
2026		9,653
2027		9,495
2028		7,874
2029		7,350
2030 and thereafter		20,994
Total lease payments	$	62,560
Less: impact of discounting		(10,611	)
Present value of lease payments	$	51,949