Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Jan. 31, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table summarizes the fair value and presentation of derivative instruments in the consolidated balance sheets as of January 31, 2026 and February 1, 2025:


	Fair value of derivative assets
(in millions)	Balance sheet location	January 31, 2026		February 1, 2025
Derivatives designated as hedging instruments:
Foreign currency contracts	Other current assets	$	—	$	0.4

Commodity contracts	Other current assets	26.8		—


		26.8		0.4
Derivatives not designated as hedging instruments:
Foreign currency contracts	Other current assets	0.7		—
Total derivative assets		$	27.5	$	0.4


	Fair value of derivative liabilities
(in millions)	Balance sheet location	January 31, 2026		February 1, 2025
Derivatives designated as hedging instruments:
Foreign currency contracts	Other current liabilities	$	(0.4)	$	—

Commodity contracts	Other current liabilities	(0.6)		—


		(1.0)		—
Derivatives not designated as hedging instruments:
Foreign currency contracts	Other current liabilities	—		(0.7)
Total derivative liabilities		$	(1.0)	$	(0.7)

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The following table summarizes the pre-tax gains (losses) recorded in AOCI for derivatives designated in cash flow hedging relationships as of January 31, 2026 and February 1, 2025:


(in millions)	January 31, 2026		February 1, 2025
Foreign currency contracts	$	(0.6)	$	0.4
Commodity contracts	35.8		—

Gains recorded in AOCI	$	35.2	$	0.4

Derivative Instruments, Gain (Loss)

The following tables summarize the effect of derivative instruments designated as cash flow hedges on OCI and the consolidated statements of operations for Fiscal 2026, Fiscal 2025 and Fiscal 2024:

Foreign currency contracts


(in millions)	Statement of operations caption	Fiscal 2026		Fiscal 2025		Fiscal 2024
Gains (losses) recorded in AOCI, beginning of period		$	0.4	$	(0.1)	$	0.6
Current period (losses) gains recognized in OCI		(1.3)		0.3		(0.2)
Losses (gains) reclassified from AOCI to net income	Cost of sales (1)	0.3		0.2		(0.5)

(Losses) gains recorded in AOCI, end of period		$	(0.6)	$	0.4	$	(0.1)

Commodity contracts


(in millions)	Statement of operations caption	Fiscal 2026		Fiscal 2025		Fiscal 2024
Gains recorded in AOCI, beginning of period		$	—	$	—	$	—
Current period gains recognized in OCI		38.7		—		—
Gains reclassified from AOCI to net income	Cost of sales (1)	(2.9)		—		—

Gains recorded in AOCI, end of period		$	35.8	$	—	$	—

(1) Refer to the consolidated statements of operations for total amounts of each financial statement caption impacted by cash flow hedges.

The following table summarizes the gains (losses) recognized from the Company’s derivatives instruments not designated as cash flow hedges within other operating (expense) income, net in the consolidated statements of operations for Fiscal 2026, Fiscal 2025 and Fiscal 2024:


(in millions)	Fiscal 2026		Fiscal 2025		Fiscal 2024
Foreign currency contracts	$	5.0	$	(6.3)	$	(0.1)