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Leases
 9 Months Ended
Nov. 01, 2025
Leases [Abstract]  
Leases
NOTE 12 – LEASES:
The
Company
determines
whether
an
arrangement is
a
lease
at
inception.
The
Company
has
operating
leases for stores, offices,
warehouse space and equipment. Its leases
have remaining lease terms of
one
to
10 years
, some of
which include options to
extend the lease term
for
up to five years
, and some of
which
include
options
to
terminate
the
lease
within one year
.
The
Company
considers
these
options
in
determining
the
lease term
used
to
establish its
right-of-use assets
and lease
liabilities.
The
Company’s
lease agreements do not contain any material residual value guarantees or
material restrictive covenants.
As
most
of
the
Company’s
leases
do
not
provide
an
implicit
rate,
the
Company
uses
its
estimated
incremental
borrowing
rate
based
on
the
information
available
at
commencement
date
of
the
lease
in
determining the present value of lease payments.
The components of lease cost are shown below (in thousands):
Three Months Ended
November 1, 2025
November 2, 2024
Operating lease cost
$
16,570
$
16,755
Variable lease cost (a)
$
571
$
490
(a) Primarily related to monthly percentage rent for stores not presented on the balance sheet.
Nine Months Ended
November 1, 2025
November 2, 2024
Operating lease cost
$
49,654
$
50,565
Variable lease cost (a)
$
1,429
$
1,450
(a) Primarily related to monthly percentage rent for stores not presented on the balance sheet.
NOTE 12 – LEASES (CONTINUED:
Supplemental cash flow
information and non-cash
activity related to
the Company’s
operating leases are
as follows (in thousands):
Operating cash flow information:
Three Months Ended
November 1, 2025
November 2, 2024
Cash paid for amounts included in the measurement of lease liabilities
$
14,839
$
15,584
Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations, net of rent violations
$
44,795
$
1,207
Nine Months Ended
November 1, 2025
November 2, 2024
Cash paid for amounts included in the measurement of lease liabilities
$
44,202
$
46,672
Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations, net of rent violations
$
58,225
$
2,564
Weighted-average
remaining
lease
term
and
discount
rate
for
the
Company’s
operating
leases
are
as
follows:
As of
November 1, 2025
November 2, 2024
Weighted-average remaining lease term
2.5
years
1.7
years
Weighted-average discount rate
5.43%
4.84%
As
of
November
1,
2025,
the
maturities
of
lease
liabilities
by
fiscal
year
for
the
Company’s
operating
leases are as follows (in thousands):
Fiscal Year
2025 (a)
$
14,907
2026
62,470
2027
44,319
2028
30,028
2029
18,154
Thereafter
10,135
Total lease payments
180,013
Less: Imputed interest
20,032
Present value of lease liabilities
$
159,981
(a) Excluding the nine months ended November 1, 2025