Leases (Tables)

6 Months Ended

Aug. 01, 2026

The following table is a summary of the Company’s components of net lease cost for the three and six months ended August 1, 2026 and August 2, 2025, respectively:


	For the Three Months Ended				For the Six Months Ended
	August 1, 2026		August 2, 2025		August 1, 2026		August 2, 2025
(in thousands)
Operating lease cost (1)	$	13,417	$	13,277	$	26,780	$	26,258
Variable lease costs (2)		3,728		3,878		7,577		7,503
Total lease costs	$	17,145	$	17,155	$	34,357	$	33,761

(1)

In March 2026, the landlord for one of the Company's store locations exercised their right to terminate the lease agreement. As consideration for the landlord's right to terminate prior to the end of the lease term, the landlord paid the Company a termination fee of $1.4 million, which was recognized as a gain in accordance with ASC 842 and not included in the above operating lease cost for the first six months of fiscal 2026. The gain from the early termination of the lease was recognized as an offset to cost of goods sold, including occupancy costs, on the Consolidated Statements of Operations for the first six months of fiscal 2026.

(2)

Variable lease costs include the cost of property taxes, insurance and common area maintenance fees related to leases.

Supplemental Cash Flow Information Related to Leases

Supplemental cash flow and balance sheet information related to leases as of and for the six months ended August 1, 2026 and August 2, 2025 was as follows:



(dollars in thousands)	For the Six Months Ended
Cash paid for amounts included in the measurement of lease liabilities:	August 1, 2026			August 2, 2025
Operating cash flows for operating leases (1)	$	28,273		$	27,747
Non-cash operating activities:
Right-of-use assets obtained in exchange for operating lease liabilities	$	16,866		$	53,413

	As of
	August 1, 2026			August 2, 2025
Weighted average remaining lease term	5.5 years			5.9 years
Weighted average discount rate		6.57	%		6.50	%

(1)

The cash paid for the first six months of fiscal 2026 and fiscal 2025 included prepaid rent of $4.7 million and $4.6 million, respectively. The cash paid for the first six months of fiscal 2026 does not include the cash received of $1.4 million for the early lease termination, as discussed above.

Schedule of Reconciliation of Undiscounted Cash Flows Related to Operating Lease Liabilities

The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the operating lease liabilities recorded on the Consolidated Balance Sheet as of August 1, 2026:


(in thousands)
2026 (remaining)	$	22,183
2027		52,365
2028		46,679
2029		38,696
2030		30,602
Thereafter		58,500
Total minimum lease payments	$	249,025
Less: amount of lease payments representing interest		42,222
Present value of future minimum lease payments	$	206,803
Less: current obligations under leases		36,663
Long-term lease obligations	$	170,140