| Schedule of Operations by Segment |
A summary of the information about the Company’s operations by segment is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fiscal Year Ended January 31, 2026: |
|
Retail Operations |
|
|
Subscription Operations |
|
|
Wholesale Operations |
|
|
Total Company |
|
Net sales(1) |
|
$ |
5,282,676 |
|
|
$ |
568,418 |
|
|
$ |
314,282 |
|
|
$ |
6,165,376 |
|
Cost of sales (excluding store impairment)(2) |
|
|
3,313,849 |
|
|
|
416,363 |
|
|
|
215,422 |
|
|
|
3,945,634 |
|
Store impairment |
|
|
1,989 |
|
|
|
— |
|
|
|
— |
|
|
|
1,989 |
|
Segment gross profit |
|
|
1,966,838 |
|
|
|
152,055 |
|
|
|
98,860 |
|
|
|
2,217,753 |
|
Segment selling, general and administrative expenses |
|
|
1,388,748 |
|
|
|
117,118 |
|
|
|
37,041 |
|
|
|
1,542,907 |
|
Segment income from operations |
|
$ |
578,090 |
|
|
$ |
34,937 |
|
|
$ |
61,819 |
|
|
$ |
674,846 |
|
Less general corporate expenses |
|
|
|
|
|
|
|
|
|
|
|
69,212 |
|
Income from operations |
|
|
|
|
|
|
|
|
|
|
$ |
605,634 |
|
Interest income |
|
|
|
|
|
|
|
|
|
|
|
41,710 |
|
Interest expense |
|
|
|
|
|
|
|
|
|
|
|
(4,916 |
) |
Other expense |
|
|
|
|
|
|
|
|
|
|
|
(45,531 |
) |
Income before income taxes |
|
|
|
|
|
|
|
|
|
|
$ |
596,897 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fiscal Year Ended January 31, 2025: |
|
|
|
|
|
|
|
|
|
|
|
|
Net sales(1) |
|
$ |
4,896,694 |
|
|
$ |
378,394 |
|
|
$ |
275,578 |
|
|
$ |
5,550,666 |
|
Cost of sales (excluding store impairment and lease abandonment charges)(2) |
|
|
3,152,805 |
|
|
|
280,666 |
|
|
|
185,924 |
|
|
|
3,619,395 |
|
Store impairment and lease abandonment charges |
|
|
4,601 |
|
|
|
— |
|
|
|
— |
|
|
|
4,601 |
|
Segment gross profit |
|
|
1,739,288 |
|
|
|
97,728 |
|
|
|
89,654 |
|
|
|
1,926,670 |
|
Segment selling, general and administrative expenses |
|
|
1,264,058 |
|
|
|
84,425 |
|
|
|
34,705 |
|
|
|
1,383,188 |
|
Segment income from operations |
|
$ |
475,230 |
|
|
$ |
13,303 |
|
|
$ |
54,949 |
|
|
$ |
543,482 |
|
Less general corporate expenses |
|
|
|
|
|
|
|
|
|
|
|
69,718 |
|
Income from operations |
|
|
|
|
|
|
|
|
|
|
$ |
473,764 |
|
Interest income |
|
|
|
|
|
|
|
|
|
|
|
37,064 |
|
Interest expense |
|
|
|
|
|
|
|
|
|
|
|
(6,069 |
) |
Other expense |
|
|
|
|
|
|
|
|
|
|
|
(4,587 |
) |
Income before income taxes |
|
|
|
|
|
|
|
|
|
|
$ |
500,172 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fiscal Year Ended January 31, 2024: |
|
Retail Operations |
|
|
Subscription Operations |
|
|
Wholesale Operations |
|
|
Total Company |
|
Net sales(1) |
|
$ |
4,678,698 |
|
|
$ |
235,859 |
|
|
$ |
238,680 |
|
|
$ |
5,153,237 |
|
Cost of sales (excluding store impairment and lease abandonment charges)(2) |
|
|
3,061,487 |
|
|
|
187,891 |
|
|
|
176,579 |
|
|
|
3,425,957 |
|
Store impairment and lease abandonment charges |
|
|
11,875 |
|
|
|
— |
|
|
|
— |
|
|
|
11,875 |
|
Segment gross profit |
|
|
1,605,336 |
|
|
|
47,968 |
|
|
|
62,101 |
|
|
|
1,715,405 |
|
Segment selling, general and administrative expenses |
|
|
1,183,324 |
|
|
|
58,648 |
|
|
|
30,704 |
|
|
|
1,272,676 |
|
Asset impairment |
|
|
— |
|
|
|
6,404 |
|
|
|
— |
|
|
|
6,404 |
|
Segment income (loss) from operations |
|
$ |
422,012 |
|
|
$ |
(17,084 |
) |
|
$ |
31,397 |
|
|
$ |
436,325 |
|
Less general corporate expenses |
|
|
|
|
|
|
|
|
|
|
|
66,530 |
|
Income from operations |
|
|
|
|
|
|
|
|
|
|
$ |
369,795 |
|
Interest income |
|
|
|
|
|
|
|
|
|
|
|
23,631 |
|
Interest expense |
|
|
|
|
|
|
|
|
|
|
|
(7,662 |
) |
Other expense |
|
|
|
|
|
|
|
|
|
|
|
(4,157 |
) |
Income before income taxes |
|
|
|
|
|
|
|
|
|
|
$ |
381,607 |
|
(1)Eliminated from Wholesale segment net sales were intercompany sales of $10,259, $11,463 and $15,934 for fiscal 2026, 2025 and 2024, respectively. (2)Eliminated from Wholesale segment cost of sales were intercompany charges of $10,756, $11,589 and $15,612 for fiscal 2026, 2025 and 2024, respectively.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fiscal Year Ended January 31, |
|
|
|
2026 |
|
|
2025 |
|
|
2024 |
|
Depreciation expense for property and equipment |
|
|
|
|
|
|
|
|
|
Retail operations |
|
$ |
118,833 |
|
|
$ |
110,095 |
|
|
$ |
99,780 |
|
Subscription operations |
|
|
13,568 |
|
|
|
12,754 |
|
|
|
6,716 |
|
Wholesale operations |
|
|
378 |
|
|
|
348 |
|
|
|
329 |
|
Total depreciation expense for property and equipment |
|
$ |
132,779 |
|
|
$ |
123,197 |
|
|
$ |
106,825 |
|
Cash paid for property and equipment |
|
|
|
|
|
|
|
|
|
Retail operations |
|
$ |
205,279 |
|
|
$ |
139,902 |
|
|
$ |
131,254 |
|
Subscription operations |
|
|
54,557 |
|
|
|
40,925 |
|
|
|
66,964 |
|
Wholesale operations |
|
|
332 |
|
|
|
1,754 |
|
|
|
1,407 |
|
Total cash paid for property and equipment |
|
$ |
260,168 |
|
|
$ |
182,581 |
|
|
$ |
199,625 |
|
|
|
|
|
|
|
|
|
|
|
|
January 31, |
|
|
|
2026 |
|
|
2025 |
|
Inventory |
|
|
|
|
|
|
Retail operations |
|
$ |
630,836 |
|
|
$ |
556,522 |
|
Wholesale operations |
|
|
70,109 |
|
|
|
64,624 |
|
Total inventory |
|
$ |
700,945 |
|
|
$ |
621,146 |
|
Rental product, net(1) |
|
|
|
|
|
|
Subscription operations |
|
$ |
246,413 |
|
|
$ |
216,126 |
|
Property and equipment, net |
|
|
|
|
|
|
Retail operations |
|
$ |
1,291,541 |
|
|
$ |
1,197,157 |
|
Subscription operations |
|
|
171,704 |
|
|
|
130,715 |
|
Wholesale operations |
|
|
2,991 |
|
|
|
3,205 |
|
Total property and equipment, net |
|
$ |
1,466,236 |
|
|
$ |
1,331,077 |
|
(1)Rental product, net is included in "Other assets" in the Consolidated Balance Sheets.
|
| Schedule of Net Sales and Percentage of Net Sales by Merchandise Category |
The following tables summarize net sales and percentage of net sales from contracts with customers by merchandise category and by segment:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fiscal Year Ended January 31, |
|
|
|
2026 |
|
|
2025 |
|
|
2024 |
|
Net sales |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Apparel |
|
$ |
3,482,560 |
|
|
|
66 |
% |
|
$ |
3,239,947 |
|
|
|
66 |
% |
|
$ |
3,079,496 |
|
|
|
66 |
% |
Home |
|
|
799,232 |
|
|
|
15 |
% |
|
|
762,129 |
|
|
|
16 |
% |
|
|
763,713 |
|
|
|
16 |
% |
Accessories |
|
|
735,691 |
|
|
|
14 |
% |
|
|
662,107 |
|
|
|
13 |
% |
|
|
603,495 |
|
|
|
13 |
% |
Other |
|
|
265,193 |
|
|
|
5 |
% |
|
|
232,511 |
|
|
|
5 |
% |
|
|
231,994 |
|
|
|
5 |
% |
Retail operations |
|
|
5,282,676 |
|
|
|
100 |
% |
|
|
4,896,694 |
|
|
|
100 |
% |
|
|
4,678,698 |
|
|
|
100 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Subscription operations |
|
|
568,418 |
|
|
|
|
|
|
378,394 |
|
|
|
|
|
|
235,859 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Apparel |
|
|
294,401 |
|
|
|
94 |
% |
|
|
259,302 |
|
|
|
94 |
% |
|
|
219,231 |
|
|
|
92 |
% |
Accessories |
|
|
18,758 |
|
|
|
6 |
% |
|
|
14,727 |
|
|
|
5 |
% |
|
|
17,671 |
|
|
|
7 |
% |
Other |
|
|
1,123 |
|
|
|
0 |
% |
|
|
1,549 |
|
|
|
1 |
% |
|
|
1,778 |
|
|
|
1 |
% |
Wholesale operations(1) |
|
|
314,282 |
|
|
|
100 |
% |
|
|
275,578 |
|
|
|
100 |
% |
|
|
238,680 |
|
|
|
100 |
% |
Total net sales |
|
$ |
6,165,376 |
|
|
|
|
|
$ |
5,550,666 |
|
|
|
|
|
$ |
5,153,237 |
|
|
|
|
(1) Net of intersegment elimination.
|
| Schedule of Revenues and Long-Lived Assets, by Domestic and Foreign Operations Segment |
The Company has foreign operations primarily in Europe and Canada. Revenues and long-lived assets, based upon the Company’s domestic and foreign operations, are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fiscal Year Ended January 31, |
|
|
|
2026 |
|
|
2025 |
|
|
2024 |
|
Net Sales |
|
|
|
|
|
|
|
|
|
Domestic operations |
|
$ |
5,380,595 |
|
|
$ |
4,866,286 |
|
|
$ |
4,506,805 |
|
Foreign operations |
|
|
784,781 |
|
|
|
684,380 |
|
|
|
646,432 |
|
Total net sales |
|
$ |
6,165,376 |
|
|
$ |
5,550,666 |
|
|
$ |
5,153,237 |
|
|
|
|
|
|
|
|
|
|
|
|
January 31, |
|
|
|
2026 |
|
|
2025 |
|
Property and equipment, net |
|
|
|
|
|
|
Domestic operations |
|
$ |
1,303,937 |
|
|
$ |
1,188,769 |
|
Foreign operations |
|
|
162,299 |
|
|
|
142,308 |
|
Total property and equipment, net |
|
$ |
1,466,236 |
|
|
$ |
1,331,077 |
|
|