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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26 Weeks Ended |
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August 2, |
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August 3, |
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August 2, |
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August 3, |
(In thousands) |
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2025 |
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2024 |
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2025 |
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2024 |
Net sales |
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$ |
2,788,469 |
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$ |
2,552,087 |
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$ |
5,636,836 |
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$ |
5,277,935 |
Less: |
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Cost of sales (1) |
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1,696,773 |
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1,573,910 |
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3,430,921 |
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3,229,978 |
Associate expenses (2) |
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407,579 |
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351,608 |
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794,729 |
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707,877 |
Advertising expense, net (3) |
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80,619 |
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74,597 |
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171,228 |
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160,304 |
Pre-opening expenses |
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5,105 |
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4,155 |
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6,934 |
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7,074 |
Other segment expenses (1) (4) |
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253,539 |
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218,616 |
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486,393 |
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442,553 |
Interest income, net |
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(1,413) |
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(4,526) |
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(4,960) |
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(11,426) |
Income tax expense |
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84,795 |
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81,171 |
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184,439 |
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175,906 |
Equity net loss of affiliate |
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597 |
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— |
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1,225 |
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— |
Net income |
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$ |
260,875 |
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$ |
252,556 |
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$ |
565,927 |
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$ |
565,669 |
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(1) |
Included within cost of sales and other segment expenses is depreciation and amortization expense of $71,165 and $65,314 for the 13 weeks ended August 2, 2025 and August 3, 2024, respectively, and $143,198 and $130,053 for the 26 weeks ended August 2, 2025 and August 3, 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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