Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands |
3 Months Ended |
Apr. 29, 2023 |
Apr. 30, 2022 |
| Cash Flows from Operating Activities: |
|
|
| Net income |
$ 39,906
|
$ 34,932
|
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: |
|
|
| Depreciation and amortization |
9,940
|
11,590
|
| Non-cash lease expense |
46,058
|
44,131
|
| Loss on disposal and impairment of property and equipment, net |
30
|
1,968
|
| Deferred tax benefit |
132
|
(430)
|
| Share-based compensation expense |
3,119
|
3,863
|
| Changes in assets and liabilities: |
|
|
| Inventories |
(16,936)
|
(2,176)
|
| Prepaid expenses and other assets |
2,183
|
(6,449)
|
| Income tax receivable |
2,663
|
961
|
| Accounts payable |
(19,359)
|
(19,483)
|
| Accrued and other liabilities |
(6,865)
|
(1,182)
|
| Lease liability |
(49,230)
|
(67,908)
|
| Net cash provided by (used in) operating activities |
11,641
|
(183)
|
| Cash Flows from Investing Activities: |
|
|
| Purchases of marketable securities |
(271)
|
0
|
| Proceeds from sale of marketable securities |
1,640
|
0
|
| Purchases of property and equipment |
(7,789)
|
(2,571)
|
| Net cash used in investing activities |
(6,420)
|
(2,571)
|
| Cash Flows from Financing Activities: |
|
|
| Payments on borrowings |
(25,000)
|
0
|
| Payments of debt issuance costs |
0
|
(706)
|
| Proceeds from issuance of common stock |
120
|
143
|
| Repurchase of treasury stock under repurchase program |
(19,805)
|
0
|
| Payments of tax withholdings related to share-based awards |
(6,179)
|
(7,657)
|
| Net cash used in financing activities |
(50,864)
|
(8,220)
|
| Net decrease in cash and cash equivalents |
(45,643)
|
(10,974)
|
| Cash and Cash Equivalents, Beginning of period |
153,377
|
115,105
|
| Cash and Cash Equivalents, End of period |
107,734
|
104,131
|
| Supplemental Disclosures of Cash Flow Information: |
|
|
| Cash paid for interest |
1,042
|
1,480
|
| Cash (paid) received for income taxes, net |
$ (92)
|
$ 6
|