Leases (Tables)

12 Months Ended

Feb. 03, 2024

Lessee, Operating Lease, Liability, Maturity

The maturity of operating lease liabilities as of February 3, 2024 were as follows (in thousands):


Fiscal Year	Related Party		Other		Total		Sublease Income
2024	$	4,085	$	61,323	$	65,408	$	95
2025	4,244		51,584		55,828		99
2026	4,411		40,233		44,644		104
2027	4,167		32,772		36,939		—
2028	2,251		22,888		25,139		—
Thereafter	7,073		42,331		49,404		—
Total minimum lease payments	26,231		251,131		277,362		298
Less: Amount representing interest	3,843		41,928		45,771		—
Present value of operating lease liabilities	$	22,388	$	209,203	$	231,591	$	298

Lease, Cost

Lease expense for fiscal years 2023, 2022 and 2021 was as follows (in thousands):


	Fiscal Year Ended
	February 3, 2024						January 28, 2023						January 29, 2022
	COGS		SG&A		Total		COGS		SG&A		Total		COGS		SG&A		Total
Fixed operating lease expense	$	64,868	$	1,403	$	66,271	$	63,252	$	1,317	$	64,569	$	60,718	$	1,285	$	62,003
Variable lease expense	19,271		70		19,341		16,605		44		16,649		18,078		28		18,106
Total lease expense	$	84,139	$	1,473	$	85,612	$	79,857	$	1,361	$	81,218	$	78,796	$	1,313	$	80,109

Supplemental lease information for the fiscal year ended February 3, 2024, January 28, 2023 and January 29, 2022 was as follows:


	Fiscal Year Ended
	February 3, 2024			January 28, 2023			January 29, 2022
Cash paid for amounts included in the measurement of operating lease liabilities (in thousands)	$	71,751		$	69,839		$	69,210
Weighted average remaining lease term (in years)	5.42 years			5.71 years			5.65 years
Weighted average interest rate (1)	6.63		%	6.33		%	6.13		%

(1) Since our leases do not provide an implicit rate, we used our incremental borrowing rate ("IBR") at lease inception, or lease modification, in determining the present value of future minimum payments. In determining an appropriate IBR, our assumptions included using a consistent discount rate for a portfolio of leases entered into at varying dates, using the full 10-year term of the lease, excluding any options, and using the total minimum lease payments.