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LEASES | 12 Months Ended
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Feb. 02, 2025
Disclosure Text Block [Abstract] |
Lessee, Operating Leases [Text Block] | NOTE 12 – LEASES In fiscal 2020, we adopted Accounting Standards Codification Topic 842 Leases. See “Leases” under Note 1 for a discussion of our accounting policies and elections under Topic 842. We have a sub-lease at one of our warehouses and we recognized sub-lease income of $125,000, $146,000 and $445,000 in fiscal 2025, 2024, and 2023, respectively. The components of lease cost and supplemental cash flow information for leases in fiscal 2025, 2024, and 2023 were:
|  | 53 Weeks Ended |  |  | 52 Weeks Ended |  |  | 52 Weeks Ended |
|  | February 2, 2025 |  |  | January 28, 2024 |  |  | January 29, 2023 |
Operating lease cost |  | $ | 10,190 |  |  | $ | 10,912 |  |  | $ | 9,908 |
Variable lease cost |  |  | 354 |  |  |  | 248 |  |  |  | 234 |
Short-term lease cost |  |  | 325 |  |  |  | 399 |  |  |  | 327 |
Total operating lease cost |  | $ | 10,869 |  |  | $ | 11,559 |  |  | $ | 10,469 |
Operating cash outflows |  | $ | 10,434 |  |  | $ | 10,537 |  |  | $ | 10,527 |
The right-of-use assets and lease liabilities recorded on our Consolidated Balance Sheets as of February 2, 2025 and January 28, 2024 were:
|  | February 2, 2025 |  |  | January 28, 2024 |
Real estate |  | $ | 44,640 |  |  | $ | 49,968 |
Property and equipment |  |  | 935 |  |  |  | 833 |
Total operating leases right-of-use assets |  | $ | 45,575 |  |  | $ | 50,801 |
Current portion of operating lease liabilities |  | $ | 7,502 |  |  | $ | 6,964 |
Long term operating lease liabilities |  |  | 41,073 |  |  |  | 46,414 |
Total operating lease liabilities |  | $ | 48,575 |  |  | $ | 53,378 |
The weighted-average discount rate is 5.46%. The weighted-average remaining lease term is 6.2 years. The following table reconciles the undiscounted future lease payments for operating leases to the operating lease liabilities recorded in the consolidated balance sheet at February 2, 2025.
Fiscal Year |  | Undiscounted Future Operating Lease Payments |
2026 |  | $ | 9,957 |
2027 |  |  | 10,089 |
2028 |  |  | 8,423 |
2029 |  |  | 7,723 |
2030 |  |  | 7,336 |
2031 and thereafter |  |  | 14,480 |
Total lease payments |  | $ | 58,008 |
Less: impact of discounting |  |  | (9,433 | )
Present value of lease payments |  | $ | 48,575 |
In March 2025, the Company announced the decision to exit the Savannah, Georgia distribution center. See Note 22 “Subsequent Events” for additional information. The termination of the Georgia warehouse lease will reduce lease right-of-use assets and liabilities by approximately $11 million and decrease lease payments by $10 million over the next five years, totaling a $14.5 million reduction over the remaining lease term.

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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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