Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.23.1
Leases (Tables)
 3 Months Ended
Apr. 30, 2023
Leases [Abstract]  
Schedule of components of lease expense
Components of lease expense were as follows (in thousands):
Thirteen weeks ended
April 30, 2023 May 01, 2022
Operating lease expense $ 7,004  $ 5,334 
Variable lease expense 2,041  2,197 
Short term lease expense 240  179 
Total lease expense $ 9,285  $ 7,710 
Schedule of lease terms and rates
The Company’s weighted average lease terms and weighted average discount rates are as follows:
Thirteen weeks ended
April 30, 2023 May 01, 2022
Weighted average remaining lease term (in years)
Operating Leases 7.5 7.2
Weighted average discount rate
Operating Leases 4.42  % 3.97  %
Schedule to reconcile undiscounted future minimum lease payments
Future minimum lease payments under non-cancelable leases as of April 30, 2023 were as follows (in thousands):
(amounts in thousands)
2024 $ 21,684 
2025 28,644 
2026 26,237 
2027 23,905 
2028 21,605 
Thereafter 73,411 
Total undiscounted future minimum lease payments 195,486 
Less: imputed interest (31,458)
Total present value of lease obligations 164,028 
Less: current operating lease liability (22,160)
Operating lease liability- long term $ 141,868 
Schedule of supplemental cash flow information and non-cash activity related to operating leases
Supplemental Cash Flow information and non-cash activity related to our operating leases is as follows (in thousands):
Thirteen weeks ended
(amounts in thousands) April 30, 2023 May 01, 2022
Operating cash flow information:  
Amounts paid on operating lease liabilities $ 6,945  $ 4,062 
Non-cash activities
Right-of-use assets obtained in exchange for lease obligations $ 12,106  $ 12,513