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Revenue Recognition
 6 Months Ended
Aug. 01, 2026
Revenue Recognition and Deferred Revenue [Abstract]  
Revenue Recognition Revenue Recognition
Accounts receivable, net from revenue-generating activities were $98 million as of August 1, 2026, $66 million as of January 31, 2026 and $75 million as of August 2, 2025. These accounts receivable primarily relate to amounts due from the Company’s franchise, license and wholesale partners. Under these arrangements, payment terms are typically 45 to 75 days.
The Company records deferred revenue when cash payments are received in advance of transfer of control of goods or services. Deferred revenue primarily relates to gift cards, loyalty points and rewards, and direct channel shipments not received by the customer, which are all impacted by seasonal and holiday-related sales patterns. Deferred revenue, which is recorded within Accrued Expenses and Other on the Consolidated Balance Sheets, was $195 million as of August 1, 2026, $223 million as of January 31, 2026 and $172 million as of August 2, 2025. The Company recognized $93 million as revenue during year-to-date 2026 from amounts recorded as deferred revenue at the beginning of its fiscal year.
The following table provides a disaggregation of Net Sales for the second quarters of and year-to-date 2026 and 2025:
Second QuarterYear-to-Date
2026202520262025
(in millions)
Stores - U.S. and Canada (a)$1,131 $1,196 $2,194 $2,307 
Direct - U.S. and Canada275 267 521 517 
International and Other (b)108 86 177 150 
Total Net Sales$1,514 $1,549 $2,892 $2,974 
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(a)Results include fulfilled buy online pick up in store orders.
(b)Results include royalties associated with franchised stores, as well as international and domestic wholesale sales.
The Company’s Net Sales outside of the U.S. include sales from Company-operated stores and its e-commerce site in Canada, royalties associated with franchised stores and international wholesale sales. Certain of these sales are subject to the impact of fluctuations in foreign currency. The Company’s Net Sales outside of the U.S. totaled $171 million and $167 million for the second quarters of 2026 and 2025, respectively, and $307 million and $299 million for year-to-date 2026 and 2025, respectively