The Company has operating leases for stores, distribution and fulfillment centers, corporate offices and equipment. The Company subleases certain properties to third parties.

Total operating lease costs were $285,893, $271,284 and $264,091 during fiscal 2026, 2025 and 2024, respectively. Total variable lease costs were $154,266, $147,104 and $139,275 during fiscal 2026, 2025 and 2024, respectively. Short-term lease costs and sublease income were not material during fiscal 2026, 2025 and 2024.

Other information related to leases was as follows:


Other information	Fiscal Year Ended January 31,
Cash paid for amounts included in the measurement of lease liabilities:	2026			2025			2024
Operating cash flows from operating leases	$	314,194		$	297,938		$	299,351
Right-of-use assets obtained in exchange for new operating lease liabilities	$	348,613		$	281,803		$	206,397
Weighted-average remaining lease term - operating leases	6.9 years			6.5 years			6.4 years
Weighted-average discount rate - operating leases		6.1	%		6.1	%		6.0	%

The following is a schedule by year of the maturities of operating lease liabilities with original terms in excess of one year, as of January 31, 2026:


Fiscal Year	Operating Leases
2027	$	299,029
2028		258,391
2029		221,926
2030		176,044
2031		132,430
Thereafter		445,880
Total undiscounted future minimum lease payments		1,533,700
Less imputed interest		(308,134	)
Total discounted future minimum lease payments	$	1,225,566

In March 2026, the Company purchased the Nuuly fulfillment center in Raymore, Missouri and terminated the corresponding lease which was set to expire in January 2039. Included in the amounts above are undiscounted future minimum lease payments of $92,989 and discounted future minimum lease payments of $59,597 related to the fulfillment center.

As of January 31, 2026, the Company had commitments of approximately $120,023 not included in the amounts above related to 34 executed but not yet commenced store leases.

Certain store leases provide for contingent rentals when sales exceed specified breakpoint levels, in lieu of a fixed minimum rent, that are not reflected in the above table. Additionally, there are 69 locations where a percentage of sales are paid, in lieu of a fixed minimum rent, that are not reflected in the above table. Total rent expense related to these 69 locations was approximately $11,661 for fiscal 2026.

During fiscal 2024, the Company committed to cease operations for two store locations but the lease has not been terminated, resulting in the right-of-use assets to be abandoned. When a lease right-of-use asset has been abandoned, the estimated useful life of the asset is updated to reflect the cease use date, and the remaining carrying value of the asset is amortized ratably over the period between the commitment date and the cease use date. During fiscal 2024, the Company recorded lease abandonment charges for two retail locations, totaling $8,231, with a remaining carrying value of $3,786 related to the right-of-use asset for one store location which was expensed in the first quarter of fiscal 2025.