During the 13 weeks ended May 3, 2025, the Company completed its quarterly triggering event assessment and determined that no triggering events had occurred through the end of the first quarter of Fiscal 2026 requiring an interim impairment assessment for any reporting units with goodwill and indefinite-lived intangible assets.

During the 13 weeks ended May 2, 2026, the Company completed its quarterly triggering event assessment and determined that no triggering events had occurred through the end of the first quarter of Fiscal 2027 that would require an interim impairment assessment for any reporting units with goodwill and indefinite-lived intangible assets.

Management noted uncertainties exist related to the macroeconomic environment in the US and abroad, including energy prices, tariffs, economic and tax policy, affordability and interest rates. These factors could unfavorably impact the cost of the Company’s products, consumer confidence and discretionary spending, and thus may impact the key assumptions used to estimate fair value, such as sales trends, margin trends, long-term growth rates and discount rates. These factors could also negatively affect the share price of the Company’s common stock. An increase in the discount rate and/or a further softening of sales and operating income trends for any of the Company’s reporting units or related trade names, particularly during peak selling seasons, could result in a decline in the estimated fair values of the indefinite-lived intangible assets, including goodwill, which could result in future material impairment charges.

Definite-lived and indefinite-lived intangible assets consist primarily of trade names and are recorded within intangible assets, net, on the condensed consolidated balance sheets. Intangible liabilities, net consists of unfavorable contracts and are recorded within accrued expenses and other current liabilities on the condensed consolidated balance sheets.


	May 2, 2026						January 31, 2026						May 3, 2025
(in millions)	Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount
Intangible assets, net:
Definite-lived intangible assets	$	8.8	$	(6.5)	$	2.3	$	8.8	$	(6.4)	$	2.4	$	8.8	$	(6.1)	$	2.7
Indefinite-lived intangible assets (1)	284.0		—		284.0		284.0		—		284.0		304.9		—		304.9
Total intangible assets, net	$	292.8	$	(6.5)	$	286.3	$	292.8	$	(6.4)	$	286.4	$	313.7	$	(6.1)	$	307.6

Intangible liabilities, net	$	—	$	—	$	—	$	(38.0)	$	38.0	$	—	$	(38.0)	$	36.7	$	(1.3)

(1) The change in the indefinite-lived intangible asset balances during the periods presented was primarily due to the trade name impairment charges recorded during the second and fourth quarters of Fiscal 2026.