v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
May 02, 2026
May 03, 2025
OPERATING ACTIVITIES    
Net income $ 114,744 $ 100,833
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Depreciation and amortization 104,607 91,783
Impairment charges - long-lived assets 807 516
Amortization of deferred financing costs 670 754
Accretion of long term debt instruments 508 308
Deferred income taxes 19,955 (3,883)
Non-cash stock compensation expense [1] 36,301 21,817
Non-cash lease expense (1,327) (2,002)
Cash received from landlord allowances 20,080 7,811
Inducement charges 15,315  
Changes in assets and liabilities:    
Accounts receivable (9,780) (18,701)
Merchandise inventories (132,301) (64,541)
Prepaid and other current assets (78,253) 7,745
Accounts payable 36,472 (118,535)
Other current liabilities (70,026) (48,170)
Other long term assets and long term liabilities 1,727 (193)
Other operating activities 1,967 (4,450)
Net cash provided by (used in) operating activities 61,466 (28,908)
INVESTING ACTIVITIES    
Cash paid for property and equipment (288,723) (409,700)
Lease acquisition costs (923) (8,404)
Net (removal costs) proceeds from sale of property and equipment and assets held for sale (16) 5,421
Net cash used in investing activities (289,662) (412,683)
FINANCING ACTIVITIES    
Principal payment on long term debt- Convertible Notes (128,638) (156,158)
Purchase of treasury shares (134,259) (127,563)
Proceeds from stock option exercises 11,158 2,766
Other financing activities (854) 2,065
Net cash used in financing activities (256,974) (182,015)
Decrease in cash and cash equivalents (485,170) (623,606)
Cash and cash equivalents at beginning of period 1,232,525 994,698
Cash and cash equivalents at end of period 747,355 371,092
Supplemental disclosure of cash flow information:    
Interest paid 16,250 21,216
Income tax payments - net 4,079 1
Non-cash investing and financing activities:    
Shares issued in exchange of 2027 Convertible Notes 44,403  
Accrued purchases of property and equipment 130,974 118,504
ABL Line of Credit    
FINANCING ACTIVITIES    
Proceeds from long term debt   100,000
Term Loan Facility    
FINANCING ACTIVITIES    
Principal payments on long term debt $ (4,381) $ (3,125)
[1] The amounts presented in the table above exclude taxes. For the three month periods ended May 2, 2026 and May 3, 2025, the tax benefit related to the Company’s non-cash stock compensation was approximately $7.2 million and $4.2 million, respectively.