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Leases
6 Months Ended
Jul. 30, 2022
Leases [Abstract]  
Leases

Note 7 – Leases

We lease all of our physical stores, our single distribution center, which has a current lease term expiring in 2034, and certain other locations that support the recently acquired Shoe Station operations. We also enter into leases of equipment, copiers and billboards. All of our leases are operating leases. Leases with terms of twelve months or less are immaterial and are expensed as incurred, and we did not have any leases with related parties as of July 30, 2022.

Lease costs, including related common area maintenance (“CAM”), property taxes, and insurance, reported in our Condensed Consolidated Statements of Income were as follows for the thirteen and twenty-six weeks ended July 30, 2022 and July 31, 2021:

 

 

 

Thirteen Weeks

 

 

Thirteen Weeks

 

 

Twenty-six

 

 

Twenty-six

 

 

 

Weeks Ended

 

 

Weeks Ended

 

 

Weeks Ended

 

 

Weeks Ended

 

(In thousands)

 

July 30, 2022

 

 

July 31, 2021

 

 

July 30, 2022

 

 

July 31, 2021

 

Operating lease cost

 

$

14,943

 

 

$

13,489

 

 

$

29,642

 

 

$

26,752

 

Variable lease cost

 

 

 

 

 

 

 

 

 

 

 

 

   CAM, property taxes and insurance

 

 

4,667

 

 

 

4,861

 

 

 

9,429

 

 

 

9,629

 

   Percentage rent and other variable lease costs

 

 

301

 

 

 

993

 

 

 

494

 

 

 

1,641

 

Total

 

$

19,911

 

 

$

19,343

 

 

$

39,565

 

 

$

38,022