Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows

v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
May 02, 2026
May 03, 2025
Operating activities    
Net income $ 340,469 $ 305,052
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 81,399 72,033
Non-cash lease expense 91,285 91,105
Deferred income taxes 2,939 3,420
Stock-based compensation expense 10,490 11,418
Loss on disposal of property and equipment 4,682 892
Equity net loss of affiliate 1,579 628
Change in operating assets and liabilities:    
Receivables 47,959 (1,812)
Merchandise inventories (206,014) (153,305)
Prepaid expenses and other current assets 3,596 (9,283)
Income taxes 100,013 88,934
Accounts payable 21,757 (24,920)
Accrued liabilities (112,354) (32,716)
Deferred revenue (41,097) (37,742)
Operating lease liabilities (90,459) (88,100)
Other assets and liabilities 5,650 (5,583)
Net cash provided by operating activities 261,894 220,021
Investing activities    
Proceeds from short-term investments 15,000  
Capital expenditures (58,276) (79,031)
Other investments (4,949) (7,346)
Net cash used in investing activities (48,225) (86,377)
Financing activities    
Borrowings from short-term debt 115,580  
Payments on short-term debt (32,252)  
Repurchase of common shares (545,304) (369,786)
Stock options exercised 1,354 481
Purchase of treasury shares (10,799) (12,911)
Net cash used in financing activities (471,421) (382,216)
Effect of exchange rate changes on cash and cash equivalents (191)  
Net decrease in cash and cash equivalents (257,943) (248,572)
Cash and cash equivalents at beginning of period 424,243 703,201
Cash and cash equivalents at end of period 166,300 454,629
Supplemental information    
Income taxes paid, net of refunds 3,509 7,016
Non-cash investing and financing activities:    
Non-cash capital expenditures 49,036 28,370
Repurchase of common shares in accrued liabilities $ 13,750 $ 3,913