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Leases

6 Months Ended

Jul. 28, 2024

9. Leases

We have operating leases for warehouses, showrooms, manufacturing facilities, offices and equipment. We recognized sub-lease income of $18,000 and $71,000 for the second quarter and first half of fiscal 2025, respectively. We recognized sub-lease income of $45,000 and $74,000 for the second quarter and first half of fiscal 2024, respectively.

The components of lease cost and supplemental cash flow information for leases for the three-months and six-months ended July 28, 2024 and July 30, 2023 were:

	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	July 28, 2024		July 30, 2023		July 28, 2024		July 30, 2023
Operating lease cost	$	2,533	$	2,862	$	5,060	$	5,700
Variable lease cost		83		70		188		152
Short-term lease cost		83		92		199		170
Total operating lease cost	$	2,699	$	3,024	$	5,447	$	6,022

Operating cash outflows	$	2,554	$	2,679	$	5,163	$	5,371

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

	July 28, 2024		January 28, 2024
Real estate	$	47,282	$	49,968
Property and equipment		687		833
Total operating leases right-of-use assets	$	47,969	$	50,801


Current portion of operating lease liabilities	$	7,327	$	6,964
Long term operating lease liabilities		43,504		46,414
Total operating lease liabilities	$	50,831	$	53,378

The weighted-average discount rate is 5.17%. The weighted-average remaining lease term is 6.6 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 July 28, 2024:

	Undiscounted Future Operating Lease Payments
Remainder of fiscal 2025	$	4,861
2026		9,859
2027		9,709
2028		8,034
2029		7,350
2030 and thereafter		20,994
Total lease payments	$	60,807
Less: impact of discounting		(9,976	)
Present value of lease payments	$	50,831