Leases

3 Months Ended

Apr. 29, 2023

Leases [Abstract]

Leases

Leases

ROU lease assets are periodically reviewed for impairment losses. We use the long-lived assets impairment guidance in ASC Subtopic 360-10, Property, Plant, and Equipment - Overall, to determine when to evaluate assets and asset groups, including ROU assets, for impairment and to calculate any impairment loss to be recognized. Asset group impairment charges in the 13-weeks ended April 29, 2023 and April 30, 2022, were immaterial.

Lease costs are as follows (in thousands):

	13-Weeks Ended
	April 29, 2023		April 30, 2022
Operating lease cost	$	20,038	$	18,259
Finance lease cost:
Amortization of assets	255		236
Interest on lease liabilities	27		28
Variable lease cost	5,068		4,459
	$	25,388	$	22,982

Finance ROU assets on the unaudited condensed consolidated balance sheets at April 29, 2023, January 28, 2023, and April 30, 2022 are shown net of accumulated amortization of $3.6 million, $3.3 million, and $2.8 million, respectively.

The following table provides ROU assets obtained in exchange for lease obligations (in thousands):

	13-Weeks Ended
	April 29, 2023		April 30, 2022
ROU assets obtained in exchange for lease obligations, net:
Operating leases	$	18,433	$	23,534
Finance leases	$	—	$	397

As of April 29, 2023, we have entered into approximately $7.9 million of operating lease obligations related to future store locations that have not yet commenced.

Leases

Leases

ROU lease assets are periodically reviewed for impairment losses. We use the long-lived assets impairment guidance in ASC Subtopic 360-10, Property, Plant, and Equipment - Overall, to determine when to evaluate assets and asset groups, including ROU assets, for impairment and to calculate any impairment loss to be recognized. Asset group impairment charges in the 13-weeks ended April 29, 2023 and April 30, 2022, were immaterial.

Lease costs are as follows (in thousands):

	13-Weeks Ended
	April 29, 2023		April 30, 2022
Operating lease cost	$	20,038	$	18,259
Finance lease cost:
Amortization of assets	255		236
Interest on lease liabilities	27		28
Variable lease cost	5,068		4,459
	$	25,388	$	22,982

Finance ROU assets on the unaudited condensed consolidated balance sheets at April 29, 2023, January 28, 2023, and April 30, 2022 are shown net of accumulated amortization of $3.6 million, $3.3 million, and $2.8 million, respectively.

The following table provides ROU assets obtained in exchange for lease obligations (in thousands):

	13-Weeks Ended
	April 29, 2023		April 30, 2022
ROU assets obtained in exchange for lease obligations, net:
Operating leases	$	18,433	$	23,534
Finance leases	$	—	$	397

As of April 29, 2023, we have entered into approximately $7.9 million of operating lease obligations related to future store locations that have not yet commenced.