| Schedule of Operations by Segment |
A summary of the information about the Company’s operations by segment is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended July 31, 2026: |
|
Retail Operations |
|
|
Subscription Operations |
|
|
Wholesale Operations |
|
|
Total Company |
|
Net sales(1) |
|
$ |
1,392,520 |
|
|
$ |
178,605 |
|
|
$ |
90,790 |
|
|
$ |
1,661,915 |
|
Cost of sales(2)(3) |
|
|
766,500 |
|
|
|
125,179 |
|
|
|
48,685 |
|
|
|
940,364 |
|
Segment gross profit |
|
|
626,020 |
|
|
|
53,426 |
|
|
|
42,105 |
|
|
|
721,551 |
|
Segment selling, general and administrative expenses |
|
|
368,704 |
|
|
|
34,441 |
|
|
|
11,050 |
|
|
|
414,195 |
|
Segment income from operations |
|
$ |
257,316 |
|
|
$ |
18,985 |
|
|
$ |
31,055 |
|
|
$ |
307,356 |
|
Less general corporate expenses |
|
|
|
|
|
|
|
|
|
|
|
18,617 |
|
Income from operations |
|
|
|
|
|
|
|
|
|
|
$ |
288,739 |
|
Other income, net(3) |
|
|
|
|
|
|
|
|
|
|
|
9,801 |
|
Income before income taxes |
|
|
|
|
|
|
|
|
|
|
$ |
298,540 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended July 31, 2026: |
|
Retail Operations |
|
|
Subscription Operations |
|
|
Wholesale Operations |
|
|
Total Company |
|
Net sales(1) |
|
$ |
2,613,434 |
|
|
$ |
345,869 |
|
|
$ |
183,957 |
|
|
$ |
3,143,260 |
|
Cost of sales(2)(3) |
|
|
1,526,558 |
|
|
|
244,521 |
|
|
|
108,064 |
|
|
|
1,879,143 |
|
Segment gross profit |
|
|
1,086,876 |
|
|
|
101,348 |
|
|
|
75,893 |
|
|
|
1,264,117 |
|
Segment selling, general and administrative expenses |
|
|
710,981 |
|
|
|
72,281 |
|
|
|
20,815 |
|
|
|
804,077 |
|
Segment income (loss) from operations |
|
$ |
375,895 |
|
|
$ |
29,067 |
|
|
$ |
55,078 |
|
|
$ |
460,040 |
|
Less general corporate expenses |
|
|
|
|
|
|
|
|
|
|
|
31,620 |
|
Income from operations |
|
|
|
|
|
|
|
|
|
|
$ |
428,420 |
|
Other income, net(3) |
|
|
|
|
|
|
|
|
|
|
|
15,986 |
|
Income before income taxes |
|
|
|
|
|
|
|
|
|
|
$ |
444,406 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended July 31, 2025: |
|
Retail Operations |
|
|
Subscription Operations |
|
|
Wholesale Operations |
|
|
Total Company |
|
Net sales(1) |
|
$ |
1,289,269 |
|
|
$ |
138,932 |
|
|
$ |
76,554 |
|
|
$ |
1,504,755 |
|
Cost of sales(2) |
|
|
787,686 |
|
|
|
99,283 |
|
|
|
51,625 |
|
|
|
938,594 |
|
Segment gross profit |
|
|
501,583 |
|
|
|
39,649 |
|
|
|
24,929 |
|
|
|
566,161 |
|
Segment selling, general and administrative expenses |
|
|
342,276 |
|
|
|
27,102 |
|
|
|
9,246 |
|
|
|
378,624 |
|
Segment income from operations |
|
$ |
159,307 |
|
|
$ |
12,547 |
|
|
$ |
15,683 |
|
|
$ |
187,537 |
|
Less general corporate expenses |
|
|
|
|
|
|
|
|
|
|
|
13,150 |
|
Income from operations |
|
|
|
|
|
|
|
|
|
|
$ |
174,387 |
|
Other income, net |
|
|
|
|
|
|
|
|
|
|
|
8,886 |
|
Income before income taxes |
|
|
|
|
|
|
|
|
|
|
$ |
183,273 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended July 31, 2025: |
|
Retail Operations |
|
|
Subscription Operations |
|
|
Wholesale Operations |
|
|
Total Company |
|
Net sales(1) |
|
$ |
2,419,779 |
|
|
$ |
263,286 |
|
|
$ |
151,191 |
|
|
$ |
2,834,256 |
|
Cost of sales(2) |
|
|
1,489,445 |
|
|
|
189,069 |
|
|
|
100,517 |
|
|
|
1,779,031 |
|
Segment gross profit |
|
|
930,334 |
|
|
|
74,217 |
|
|
|
50,674 |
|
|
|
1,055,225 |
|
Segment selling, general and administrative expenses |
|
|
648,397 |
|
|
|
54,654 |
|
|
|
17,958 |
|
|
|
721,009 |
|
Segment income from operations |
|
$ |
281,937 |
|
|
$ |
19,563 |
|
|
$ |
32,716 |
|
|
$ |
334,216 |
|
Less general corporate expenses |
|
|
|
|
|
|
|
|
|
|
|
31,602 |
|
Income from operations |
|
|
|
|
|
|
|
|
|
|
$ |
302,614 |
|
Other income, net |
|
|
|
|
|
|
|
|
|
|
|
18,532 |
|
Income before income taxes |
|
|
|
|
|
|
|
|
|
|
$ |
321,146 |
|
(1)Eliminated from Wholesale segment net sales were intercompany sales of $1,156 and $3,953 for the three and six months ended July 31, 2026, respectively, and $1,686 and $4,478 for the three and six months ended July 31, 2025, respectively. (2)Eliminated from Wholesale segment cost of sales were intercompany charges of $1,227 and $4,100 for the three and six months ended July 31, 2026, respectively, and $1,740 and $4,558 for the three and six months ended July 31, 2025, respectively. (3)During the three and six months ended July 31, 2026, the Company recognized a one-time financial benefit of $100,105 for refunds of previously paid IEEPA tariffs (see Note 1, "Basis of Presentation"), of which $95,660 was recorded as a reduction of "Cost of sales" and $4,445 was recorded as interest income included in "Other income, net." The one-time reduction of "Cost of sales" by segment during the three and six months ended July 31, 2026, was $84,472 for the Retail segment, $963 for the Subscription segment and $10,225 for the Wholesale segment.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
July 31, |
|
|
January 31, |
|
|
July 31, |
|
|
|
2026 |
|
|
2026 |
|
|
2025 |
|
Inventory |
|
|
|
|
|
|
|
|
|
Retail operations |
|
$ |
711,569 |
|
|
$ |
630,836 |
|
|
$ |
635,294 |
|
Wholesale operations |
|
|
66,970 |
|
|
|
70,109 |
|
|
|
60,905 |
|
Total inventory |
|
$ |
778,539 |
|
|
$ |
700,945 |
|
|
$ |
696,199 |
|
Rental product, net (1) |
|
|
|
|
|
|
|
|
|
Subscription operations |
|
$ |
294,544 |
|
|
$ |
246,413 |
|
|
$ |
230,091 |
|
Property and equipment, net |
|
|
|
|
|
|
|
|
|
Retail operations |
|
$ |
1,361,716 |
|
|
$ |
1,291,541 |
|
|
$ |
1,235,930 |
|
Subscription operations |
|
|
293,575 |
|
|
|
171,704 |
|
|
|
137,838 |
|
Wholesale operations |
|
|
2,979 |
|
|
|
2,991 |
|
|
|
3,043 |
|
Total property and equipment, net |
|
$ |
1,658,270 |
|
|
$ |
1,466,236 |
|
|
$ |
1,376,811 |
|
(1)Rental product, net is included in "Other assets" in the Condensed Consolidated Balance Sheets.
|
| Schedule of Net Sales and Percentage of Net Sales by Merchandise Category |
The following tables summarize net sales and percentage of net sales from contracts with customers by merchandise category and by segment:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
|
July 31, |
|
|
|
2026 |
|
|
2025 |
|
Net sales |
|
|
|
|
|
|
|
|
|
|
|
|
Apparel |
|
$ |
969,355 |
|
|
|
70 |
% |
|
$ |
898,361 |
|
|
|
70 |
% |
Home |
|
|
172,740 |
|
|
|
12 |
% |
|
|
165,011 |
|
|
|
13 |
% |
Accessories |
|
|
185,692 |
|
|
|
13 |
% |
|
|
163,450 |
|
|
|
13 |
% |
Other |
|
|
64,733 |
|
|
|
5 |
% |
|
|
62,447 |
|
|
|
4 |
% |
Retail operations |
|
|
1,392,520 |
|
|
|
100 |
% |
|
|
1,289,269 |
|
|
|
100 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
Subscription operations |
|
|
178,605 |
|
|
|
|
|
|
138,932 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Apparel |
|
|
87,195 |
|
|
|
96 |
% |
|
|
72,629 |
|
|
|
95 |
% |
Accessories |
|
|
3,285 |
|
|
|
4 |
% |
|
|
3,628 |
|
|
|
5 |
% |
Other |
|
|
310 |
|
|
|
0 |
% |
|
|
297 |
|
|
|
0 |
% |
Wholesale operations (1) |
|
|
90,790 |
|
|
|
100 |
% |
|
|
76,554 |
|
|
|
100 |
% |
Total net sales |
|
$ |
1,661,915 |
|
|
|
|
|
$ |
1,504,755 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended |
|
|
|
July 31, |
|
|
|
2026 |
|
|
2025 |
|
Net sales |
|
|
|
|
|
|
|
|
|
|
|
|
Apparel |
|
$ |
1,819,213 |
|
|
|
70 |
% |
|
$ |
1,681,366 |
|
|
|
69 |
% |
Home |
|
|
326,261 |
|
|
|
12 |
% |
|
|
312,698 |
|
|
|
13 |
% |
Accessories |
|
|
345,715 |
|
|
|
13 |
% |
|
|
310,139 |
|
|
|
13 |
% |
Other |
|
|
122,245 |
|
|
|
5 |
% |
|
|
115,576 |
|
|
|
5 |
% |
Retail operations |
|
|
2,613,434 |
|
|
|
100 |
% |
|
|
2,419,779 |
|
|
|
100 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nuuly operations |
|
|
345,869 |
|
|
|
|
|
|
263,286 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Apparel |
|
|
175,446 |
|
|
|
96 |
% |
|
|
140,244 |
|
|
|
93 |
% |
Accessories |
|
|
7,902 |
|
|
|
4 |
% |
|
|
10,400 |
|
|
|
7 |
% |
Other |
|
|
609 |
|
|
|
0 |
% |
|
|
547 |
|
|
|
0 |
% |
Wholesale operations (1) |
|
|
183,957 |
|
|
|
100 |
% |
|
|
151,191 |
|
|
|
100 |
% |
Total net sales |
|
$ |
3,143,260 |
|
|
|
|
|
$ |
2,834,256 |
|
|
|
|
(1)Net of intersegment elimination.
|
| Schedule of Revenues and Long-Lived Assets, by Domestic and Foreign Operations Segment |
The Company has foreign operations primarily in Europe and Canada. Revenues and long-lived assets, based upon the Company’s domestic and foreign operations, are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
July 31, |
|
|
January 31, |
|
|
July 31, |
|
|
|
2026 |
|
|
2026 |
|
|
2025 |
|
Property and equipment, net |
|
|
|
|
|
|
|
|
|
Domestic operations |
|
$ |
1,496,956 |
|
|
$ |
1,303,937 |
|
|
$ |
1,223,526 |
|
Foreign operations |
|
|
161,314 |
|
|
|
162,299 |
|
|
|
153,285 |
|
Total property and equipment, net |
|
$ |
1,658,270 |
|
|
$ |
1,466,236 |
|
|
$ |
1,376,811 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Six Months Ended |
|
|
|
July 31, |
|
|
July 31, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Net Sales |
|
|
|
|
|
|
|
|
|
|
|
|
Domestic operations |
|
$ |
1,440,654 |
|
|
$ |
1,304,771 |
|
|
$ |
2,737,556 |
|
|
$ |
2,476,921 |
|
Foreign operations |
|
|
221,261 |
|
|
|
199,984 |
|
|
|
405,704 |
|
|
|
357,335 |
|
Total net sales |
|
$ |
1,661,915 |
|
|
$ |
1,504,755 |
|
|
$ |
3,143,260 |
|
|
$ |
2,834,256 |
|
|