v3.26.1
Leases
 6 Months Ended
Aug. 01, 2026
Leases [Abstract]  
Leases
NOTE 12 – LEASES:
The
Company determines
whether
an
arrangement is
a
lease
at
inception.
The
Company
has
operating
leases
for
stores,
offices,
warehouse
space
and
equipment.
Its
leases
have
remaining
lease
terms
of
one year
to
10 years
,
some
of
which
include
options
to
extend
the
lease
term
for
up to five years
,
and
some
of
which
include
options
to
terminate
the
lease
within one year
.
The
Company
considers
these
options
in
determining
the
lease
term
used
to
establish
its
right-of-use
assets
and
lease
liabilities.
The
Company’s lease
agreements do not
contain any material residual
value guarantees or material
restrictive
covenants.
As
most
of
the
Company’s
leases
do
not
provide
an
implicit
rate,
the
Company
uses
its
estimated
incremental
borrowing
rate
based
on
the
information
available
at
commencement
date
of
the
lease
in
determining the present value of lease payments.
The components of lease cost are shown below (in thousands):
Three Months Ended
August 1, 2026
August 2, 2025
Operating lease cost
$
16,477
$
16,496
Variable
lease cost (a)
$
292
$
420
(a) Primarily related to monthly percentage rent for stores not presented on the balance sheet.
Six Months Ended
August 1, 2026
August 2, 2025
Operating lease cost
$
32,796
$
33,084
Variable
lease cost (a)
$
811
$
858
(a) Primarily related to monthly percentage rent for stores not presented on the balance sheet.
NOTE 12 – LEASES (CONTINUED:
Supplemental cash flow
information and non-cash
activity related to
the Company’s
operating leases are
as follows (in thousands):
Operating cash flow information:
Three Months Ended
August 1, 2026
August 2, 2025
Cash paid for amounts included in the measurement of lease liabilities
$
14,443
$
14,829
Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations, net of rent violations
$
7,837
$
12,224
Six Months Ended
August 1, 2026
August 2, 2025
Cash paid for amounts included in the measurement of lease liabilities
$
28,382
$
29,363
Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations, net of rent violations
$
16,673
$
13,430
Weighted-average
remaining
lease
term
and
discount
rate
for
the
Company’s
operating
leases
are
as
follows:
As of
August 1, 2026
August 2, 2025
Weighted-average remaining lease term
2.1
years
2.1
years
Weighted-average discount rate
6.21%
5.92%
As of August 1,
2026, the maturities
of lease liabilities by
fiscal year for
the Company’s
operating leases
are as follows (in thousands):
Fiscal Year
2026 (a)
$
31,232
2027
50,042
2028
35,059
2029
22,799
2030
13,042
Thereafter
4,835
Total lease payments
157,009
Less: Imputed interest
18,380
Present value of lease liabilities
$
138,629
(a) Excluding the six months ended August 1, 2026