We lease manufacturing facilities, showroom and office space, distribution centers, and equipment under operating lease arrangements. Our operating leases have remaining lease terms of 3 months to five years, with renewal options for additional periods ranging up to 12 years.

The right of use assets and lease liabilities associated with our operating leases as of August 2, 2026, August 3, 2025 and May 3, 2026, are as follows:



(dollars in thousands)	August 2, 2026		August 3, 2025		May 3, 2026
Right of use assets	$	2,642	$	5,162	$	2,984
Operating lease liability - current		765		2,209		956
Operating lease liability – long-term		916		1,995		1,027

Supplemental Cash Flow Information


	Three months ended		Three months ended
(dollars in thousands)	August 2, 2026		August 3, 2025
Operating lease liability payments	$	307	$	746
Right of use assets exchanged for lease liabilities		—		—

Operating lease expense for the three-month periods ended August 2, 2026, and August 3, 2025, was $378,000 and $735,000, respectively. Short-term lease costs for the three-month periods ended August 2, 2026, and August 3, 2025, was $127,000 and $0, respectively. No variable lease costs were incurred for the three-month periods ended August 2, 2026, and August 3, 2025.

Other Information

Maturity of our operating lease liabilities for the remainder of fiscal 2027, the subsequent four fiscal years, and thereafter follows:


(dollars in thousands)
2027	$	668
2028		388
2029		227
2030		229
2031		231
Thereafter		114
	$	1,857
Less: interest		(176	)
Present value of lease liabilities	$	1,681

As of August 2, 2026, the weighted average remaining lease term and discount rate for our operating leases follows:


	August 2, 2026
Weighted average lease term (in years)	3.49
Weighted average discount rate		5.56	%