| Schedule of significant expense categories included in the measure of the segment's net income |
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13 Weeks Ended |
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May 3, |
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May 4, |
(In thousands, except per share data) |
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2025 |
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2024 |
Net sales |
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$ |
2,848,367 |
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$ |
2,725,848 |
Less: |
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Cost of sales (1) |
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1,734,148 |
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1,656,068 |
Associate expenses (2) |
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387,150 |
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356,269 |
Advertising expense, net (3) |
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90,609 |
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85,707 |
Pre-opening expenses |
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1,829 |
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2,919 |
Other segment expenses (1) (4) |
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232,854 |
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223,937 |
Interest income, net |
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(3,547) |
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(6,900) |
Income tax expense |
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99,644 |
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|
94,735 |
Equity net loss of affiliate |
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|
628 |
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— |
Net income |
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$ |
305,052 |
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$ |
313,113 |
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(1) |
Included within cost of sales and other segment expenses is depreciation and amortization expense of $72,033 and $64,739 for the 13 weeks ended May 3, 2025 and May 4, 2024, respectively. |
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(2) |
Associate expenses include salaries, wages, bonus, and other forms of compensation related to associates. |
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(3) |
Advertising expense, net consists of print, digital and social media, and television and radio advertising, net of vendor income that is a reimbursement of specific, incremental, and identifiable costs. |
(4) Other segment expenses include other corporate overhead and store opening expenses within SG&A expenses.
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