INCOME TAXES |
6 Months Ended |
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Aug. 02, 2026 | |
| Income Taxes [Abstract] | |
| INCOME TAXES | INCOME TAXES The effective income tax rates for the thirteen weeks ended August 2, 2026 and August 3, 2025 were 49.2% and (101.6)%, respectively. The effective income tax rate for the thirteen weeks ended August 2, 2026 reflected a $(99.7) million income tax benefit recorded on $(202.6) million of pre-tax losses. The effective income tax rate for the thirteen weeks ended August 3, 2025 reflected a $(113.0) million income tax benefit recorded on $111.2 million of pre-tax income. The effective income tax rates for the twenty-six weeks ended August 2, 2026 and August 3, 2025 were 84.2% and 175.3%, respectively. The effective income tax rate for the twenty-six weeks ended August 2, 2026 reflected a $(79.2) million income tax benefit recorded on $(94.1) million of pre-tax losses. The effective income tax rate for the twenty-six weeks ended August 3, 2025 reflected a $(417.8) million income tax benefit recorded on $(238.4) million of pre-tax losses. The changes in the effective income tax rates for the thirteen and twenty-six weeks ended August 2, 2026 as compared to the respective prior year periods were primarily due to the impact of (i) the $439.0 million pre-tax noncash goodwill impairment charge recorded during the second quarter of 2026, which was non-deductible for tax purposes and factored into the Company’s 2026 annualized effective income tax rate, and resulted in an increase to the Company’s effective income tax rates for the thirteen and twenty-six weeks ended August 2, 2026 of 26.9% and 63.0%, respectively and (ii) the $479.5 million pre-tax noncash goodwill and other intangible asset impairment charges recorded during the first quarter of 2025, which were non-deductible for tax purposes and factored into the Company’s 2025 annualized effective income tax rate, and resulted in a change to the Company’s effective income tax rates for the thirteen and twenty-six weeks ended August 3, 2025 of (122.9)% and 156.4%, respectively.
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