v3.26.1
Leases (Tables)
3 Months Ended
May 02, 2026
Leases [Abstract]  
Components of Lease Expense

The following table presents components of lease expense (in thousands):

 

 

 

Three Months Ended

 

May 2, 2026

 

May 3, 2025

Operating lease expense

 

$

17,146

 

$

16,516

Variable lease expense

 

 

4,500

 

 

4,306

Total lease expense (1)

 

$

21,646

 

$

20,822

 

(1)
Total lease expense does not include right-of-use asset impairment charges, common area maintenance charges and other non-lease components.
Schedule of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases is as follows (in thousands):

 

 

Three Months Ended

 

 

 

May 2, 2026

 

 

 

May 3, 2025

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

 $

 

(15,947

)

 

 

$

 

(16,588

)

Right-of-use assets obtained in exchange for new operating lease liabilities

 

 $

 

19,377

 

 

 

$

 

10,471

 

Schedule of Weighted-Average Remaining Lease Term and Discount Rate

Weighted-average remaining lease term and discount rate were as follows:

 

 

May 2, 2026

 

May 3, 2025

Weighted-average remaining lease term

 

 

4.6

 

 

 

4.8

 

Weighted-average discount rate

 

 

4.9

%

 

 

4.7

%

Schedule of Maturities of Operating Leases Liabilities

At May 2, 2026, the maturities of our operating leases liabilities are as follows (in thousands):

 

Fiscal 2026

 

 

$

48,847

 

Fiscal 2027

 

 

 

59,769

 

Fiscal 2028

 

 

 

37,819

 

Fiscal 2029

 

 

 

25,919

 

Fiscal 2030

 

 

 

20,997

 

Fiscal 2031

 

 

 

14,972

 

Thereafter

 

 

 

20,703

 

Total minimum lease payments

 

 

 

229,026

 

Less: interest

 

 

 

(25,193

)

Present value of lease obligations

 

 

 

203,833

 

Less: current portion

 

 

 

(55,824

)

Long-term lease obligations (1)

 

 

$

148,009

 

(1)
Amounts in the table do not include contingent rent, common area maintenance charges and other non-lease components.