| 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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39 Weeks Ended |
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November 1, |
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November 2, |
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November 1, |
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November 2, |
(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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$ |
2,857,623 |
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$ |
2,530,100 |
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$ |
8,494,459 |
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$ |
7,808,035 |
Less: |
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Cost of sales (1) |
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1,701,958 |
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1,524,456 |
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5,132,879 |
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4,754,434 |
Associate expenses (2) |
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437,572 |
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347,181 |
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1,232,301 |
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1,055,058 |
Advertising expense, net (3) |
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116,524 |
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107,701 |
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287,751 |
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268,004 |
Pre-opening expenses |
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5,326 |
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4,883 |
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12,260 |
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11,957 |
Other segment expenses (1) (4) |
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286,824 |
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227,377 |
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773,218 |
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669,931 |
Interest expense (income), net |
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4,123 |
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(1,674) |
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(837) |
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(13,100) |
Income tax expense |
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73,436 |
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77,997 |
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257,875 |
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253,903 |
Equity net loss of affiliate |
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985 |
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— |
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2,210 |
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— |
Net income |
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$ |
230,875 |
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$ |
242,179 |
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$ |
796,802 |
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$ |
807,848 |
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(1) |
Included within cost of sales and other segment expenses is depreciation and amortization expense of $75,787 and $67,021 for the 13 weeks ended November 1, 2025 and November 2, 2024, respectively, and $218,985 and $197,075 for the 39 weeks ended November 1, 2025 and November 2, 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 operating expenses within SG&A expenses.
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