v3.26.1
LEASES
 12 Months Ended
Feb. 01, 2026
Leases [Abstract]  
LEASES LEASES
The components of the net lease cost were as follows:
(In millions)Line Item in the Company’s Consolidated Statements of Operations202520242023
Finance lease cost:
Amortization of right-of-use-assetsSG&A expenses (depreciation and amortization)$2.9 $3.5 $4.2 
Interest on lease liabilitiesInterest expense0.1 0.2 0.2 
Total finance lease cost3.0 3.7 4.4 
Operating lease costSG&A expenses423.6 388.3 402.3 
Short-term lease costSG&A expenses64.0 66.1 41.7 
Variable lease costSG&A expenses147.5 138.2 132.3 
Less: sublease incomeSG&A expenses(6.4)(6.0)(5.3)
Total net lease cost$631.7 $590.3 $575.4 

Supplemental balance sheet information related to leases was as follows:
(In millions)Line Item in the Company’s Consolidated Balance Sheets20252024
Right-of-use assets:
Operating leaseOperating lease right-of-use assets$1,861.9 $1,157.5 
Finance leaseProperty, plant and equipment, net2.4 5.4 
$1,864.3 $1,162.9 
Current lease liabilities:
Operating leaseCurrent portion of operating lease liabilities$346.6 $289.1 
Finance leaseAccrued expenses2.0 3.2 
$348.6 $292.3 
Other lease liabilities:
Operating leaseLong-term portion of operating lease liabilities$1,647.8 $1,011.3 
Finance leaseOther liabilities0.7 2.7 
$1,648.5 $1,014.0 
Supplemental cash flow information related to leases was as follows:
(In millions)202520242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$441.9 $392.0 $446.2 
Operating cash flows from finance leases0.1 0.2 0.2 
Financing cash flows from finance leases3.2 3.9 4.6 
Noncash transactions:
Right-of-use assets obtained in exchange for new operating lease liabilities$946.2 $300.2 $278.4 
Right-of-use assets obtained in exchange for new finance lease liabilities— 0.8 4.0 

The increase in operating lease right-of-use assets obtained in exchange for new operating lease liabilities in 2025 was primarily due to the execution of lease extensions, generally for a term of 10 years, with certain retail outlet store landlords covering a significant portion of the Company’s North America store portfolio.

The following summarizes the weighted average remaining lease terms and weighted average discount rates related to the Company’s right-of-use assets and lease liabilities recorded on the balance sheet:
20252024
Weighted average remaining lease term (years):
Operating leases6.915.92
Finance leases1.472.02
Weighted average discount rate:
Operating leases5.30 %4.68 %
Finance leases2.18 %2.11 %

At February 1, 2026, the maturities of the Company’s lease liabilities were as follows:
(In millions)Finance
Leases		Operating
Leases		Total
2026$2.1 $441.0 $443.1 
20270.5 396.6 397.1 
20280.2 333.6 333.8 
2029— 270.2 270.2 
2030— 228.9 228.9 
Thereafter— 741.2 741.2 
Total lease payments$2.8 $2,411.5 $2,414.3 
Less: Interest(0.1)(417.1)(417.2)
Total lease liabilities$2.7 $1,994.4 $1,997.1