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Leases (Tables) | 3 Months Ended
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Apr. 29, 2023
Leases [Abstract] |
Summary of Lease Cost | The Company's lease cost is comprised of the following:
|  | Three Months Ended |
|  | April 29, |  |  | April 30, |
(in thousands) |  | 2023 |  |  | 2022 |
Operating lease cost |  | $ | 3,797 |  |  | $ | 6,320 |
Variable operating lease cost |  |  | 28 |  |  |  | 234 |
Total lease cost |  | $ | 3,825 |  |  | $ | 6,554 |
The operating lease cost for the three months ended April 29, 2023, included a benefit of $779 for the correction of an error recorded within SG&A expenses related to a lease modification that occurred during fiscal 2022 for a Vince retail store, leading to an overstatement of the ROU assets and an overstatement of the lease obligations in fiscal 2022.
Summary of Future Maturity of Lease Liabilities | As of April 29, 2023, the future maturity of lease liabilities are as follows:
|  |  |  | April 29, |
(in thousands) |  |  |  | 2023 |
Fiscal 2023 |  |  |  | $ | 18,912 |
Fiscal 2024 |  |  |  |  | 21,990 |
Fiscal 2025 |  |  |  |  | 15,349 |
Fiscal 2026 |  |  |  |  | 11,698 |
Fiscal 2027 |  |  |  |  | 8,985 |
Thereafter |  |  |  |  | 28,534 |
Total lease payments |  |  |  |  | 105,468 |
Less: Imputed interest |  |  |  |  | (19,070 | )
Total operating lease liabilities |  |  |  | $ | 86,398 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=128292326&loc=SL77918701-209980 + Details
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