Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
May 04, 2024 | Jun. 01, 2024 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | May 04, 2024 | |
Document Fiscal Year Focus | 2024 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | ZUMZ | |
Entity Registrant Name | ZUMIEZ INC | |
Entity Central Index Key | 0001318008 | |
Entity Current Reporting Status | Yes | |
Current Fiscal Year End Date | --02-01 | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 20,274,412 | |
Entity Interactive Data Current | Yes | |
Title of 12(b) Security | Common Stock | |
Security Exchange Name | NASDAQ | |
Entity File Number | 000-51300 | |
Entity Tax Identification Number | 91-1040022 | |
Entity Incorporation, State or Country Code | WA | |
Entity Address, Address Line One | 4001 204th Street SW | |
Entity Address, City or Town | Lynnwood | |
Entity Address, State or Province | WA | |
Entity Address, Postal Zip Code | 98036 | |
City Area Code | 425 | |
Local Phone Number | 551-1500 | |
Document Quarterly Report | true | |
Document Transition Report | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | May 04, 2024 | Feb. 03, 2024 |
Current assets | ||
Cash and cash equivalents | $ 74,864 | $ 88,875 |
Marketable securities | 71,757 | 82,704 |
Receivables | 13,415 | 13,780 |
Inventories | 146,815 | 128,827 |
Prepaid expenses and other current assets | 14,177 | 12,401 |
Total current assets | 321,028 | 326,587 |
Fixed assets, net | 89,831 | 90,508 |
Operating lease right-of-use assets | 192,607 | 196,775 |
Goodwill | 15,385 | 15,374 |
Intangible assets, net | 14,117 | 14,200 |
Deferred tax assets, net | 11,158 | 8,623 |
Other long-term assets | 12,495 | 12,159 |
Total long-term assets | 335,593 | 337,639 |
Total assets | 656,621 | 664,226 |
Current liabilities | ||
Trade accounts payable | 62,301 | 38,885 |
Accrued payroll and payroll taxes | 16,958 | 18,431 |
Operating lease liabilities | 59,191 | 60,885 |
Other current liabilities | 18,869 | 25,886 |
Total current liabilities | 157,319 | 144,087 |
Long-term operating lease liabilities | 155,040 | 159,877 |
Other long-term liabilities | 6,927 | 7,052 |
Total long-term liabilities | 161,967 | 166,929 |
Total liabilities | 319,286 | 311,016 |
Commitments and contingencies (Note 5) | ||
Shareholders’ equity | ||
Preferred stock, no par value, 20,000 shares authorized; none issued and outstanding | ||
Common stock, no par value, 50,000 shares authorized; 20,318 shares issued and outstanding at May 4, 2024 and 19,833 shares issued and outstanding at February 3, 2024 | 198,047 | 196,144 |
Accumulated other comprehensive loss | (20,025) | (19,027) |
Retained earnings | 159,313 | 176,093 |
Total shareholders’ equity | 337,335 | 353,210 |
Total liabilities and shareholders’ equity | $ 656,621 | $ 664,226 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | May 04, 2024 | Feb. 03, 2024 |
Statement Of Financial Position [Abstract] | ||
Preferred stock, par value | ||
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | ||
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 20,318,000 | 19,833,000 |
Common stock, shares outstanding | 20,318,000 | 19,833,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Loss - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
May 04, 2024 | Apr. 29, 2023 | |
Income Statement [Abstract] | ||
Net sales | $ 177,388 | $ 182,887 |
Cost of goods sold | 125,489 | 133,529 |
Gross profit | 51,899 | 49,358 |
Selling, general and administrative expenses | 72,054 | 70,712 |
Operating loss | (20,155) | (21,354) |
Interest income, net | 1,321 | 858 |
Other expense, net | (767) | (541) |
Loss before income taxes | (19,601) | (21,037) |
Benefit from income taxes | (2,821) | (2,655) |
Net loss | $ (16,780) | $ (18,382) |
Basic loss per share | $ (0.86) | $ (0.96) |
Diluted loss earnings per share | $ (0.86) | $ (0.96) |
Weighted average shares used in computation of loss per share: | ||
Basic | 19,465 | 19,197 |
Diluted | 19,465 | 19,197 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 3 Months Ended | |
May 04, 2024 | Apr. 29, 2023 | |
Statement Of Income And Comprehensive Income [Abstract] | ||
Net loss | $ (16,780) | $ (18,382) |
Other comprehensive (loss) income, net of tax and reclassification adjustments: | ||
Foreign currency translation | (895) | 386 |
Net change in unrealized loss on available-for-sale debt securities | (103) | 330 |
Other comprehensive (loss) income, net | (998) | 716 |
Comprehensive loss | $ (17,778) | $ (17,666) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands | Total | Common Stock [Member] | Accumulated Other Comprehensive (Loss) [Member] | Retained Earnings [Member] |
Beginning Balance at Jan. 28, 2023 | $ 407,328 | $ 188,418 | $ (19,793) | $ 238,703 |
Beginning Balance, shares at Jan. 28, 2023 | 19,489 | |||
Net loss | (18,382) | (18,382) | ||
Other comprehensive (loss) income, net | 716 | 716 | ||
Issuance and exercise of stock-based awards | 275 | $ 275 | ||
Issuance and exercise of stock-based awards, shares | 293 | |||
Stock-based compensation expense | 1,906 | $ 1,906 | ||
Ending Balance at Apr. 29, 2023 | 391,843 | $ 190,599 | (19,077) | 220,321 |
Ending Balance, shares at Apr. 29, 2023 | 19,782 | |||
Beginning Balance at Feb. 03, 2024 | $ 353,210 | $ 196,144 | (19,027) | 176,093 |
Beginning Balance, shares at Feb. 03, 2024 | 19,833 | 19,833 | ||
Net loss | $ (16,780) | (16,780) | ||
Other comprehensive (loss) income, net | (998) | (998) | ||
Issuance and exercise of stock-based awards | 228 | $ 228 | ||
Issuance and exercise of stock-based awards, shares | 485 | |||
Stock-based compensation expense | 1,675 | $ 1,675 | ||
Ending Balance at May. 04, 2024 | $ 337,335 | $ 198,047 | $ (20,025) | $ 159,313 |
Ending Balance, shares at May. 04, 2024 | 20,318 | 20,318 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
May 04, 2024 | Apr. 29, 2023 | |
Cash flows from operating activities: | ||
Net loss | $ (16,780) | $ (18,382) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation, amortization and accretion | 5,561 | 5,379 |
Noncash lease expense | 14,522 | 16,313 |
Deferred taxes | (2,590) | (2,912) |
Stock-based compensation expense | 1,675 | 1,906 |
Impairment of long-lived assets | 101 | 312 |
Other | 525 | 375 |
Changes in operating assets and liabilities: | ||
Receivables | 1,077 | 1,030 |
Inventories | (18,876) | (13,091) |
Prepaid expenses and other assets | 1,754 | (925) |
Trade accounts payable | 21,763 | 18,868 |
Accrued payroll and payroll taxes | (1,458) | 2,087 |
Income taxes payable | (797) | (301) |
Operating lease liabilities | (17,276) | (18,609) |
Other liabilities | (7,778) | (4,929) |
Net cash used in operating activities | (18,577) | (12,879) |
Cash flows from investing activities: | ||
Additions to fixed assets | (2,546) | (5,438) |
Purchases of marketable securities | (1,967) | (1,850) |
Sales and maturities of marketable securities and other investments | 12,510 | 5,571 |
Net cash provided by (used in) investing activities | 7,997 | (1,717) |
Cash flows from financing activities: | ||
Proceeds from revolving credit facilities | 3,220 | 1,549 |
Payments on revolving credit facilities | (3,220) | (1,549) |
Proceeds from issuance and exercise of stock-based awards | 358 | 460 |
Payments for tax withholdings on equity awards | (130) | (185) |
Net cash provided by financing activities | 228 | 275 |
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (245) | (509) |
Net decrease in cash, cash equivalents, and restricted cash | (10,597) | (14,830) |
Cash, cash equivalents, and restricted cash, beginning of period | 94,284 | 88,453 |
Cash, cash equivalents, and restricted cash, end of period | 83,687 | 73,623 |
Supplemental disclosure on cash flow information: | ||
Cash paid during the period for income taxes | 654 | 536 |
Accrual for purchases of fixed assets | $ 2,094 | $ 2,323 |
Nature of Business and Basis of
Nature of Business and Basis of Presentation | 3 Months Ended |
May 04, 2024 | |
Accounting Policies [Abstract] | |
Nature of Business and Basis of Presentation | 1. Nature of Business and Basis of Presentation Nature of Business— Zumiez Inc., including its wholly owned subsidiaries, (the “Company,” “we,” “us,” “its” and “our”) is a leading specialty retailer of apparel, footwear, accessories and hardgoods for young men and women who want to express their individuality through the fashion, music, art and culture of action sports, streetwear, and other unique lifestyles. We operate under the names Zumiez, Blue Tomato and Fast Times. We operate ecommerce websites at zumiez.com , zumiez.ca, blue-tomato.com and fasttimes.com.au. At May 4, 2024, we operated 751 stores; 593 in the United States (“U.S.”), 86 in Europe, 47 in Canada, and 25 in Australia. Fiscal Year— We use a fiscal calendar widely used by the retail industry that results in a fiscal year consisting of a 52- or 53-week period ending on the Saturday closest to January 31. Each fiscal year consists of four 13-week quarters, with an extra week added to the fourth quarter every five or six years. The three months ended May 4, 2024 and April 29, 2023 were 13-week periods. Basis of Presentation— The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial reporting. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited condensed consolidated financial statements include the accounts of Zumiez Inc. and its wholly-owned subsidiaries. All significant intercompany transactions and balances are eliminated in consolidation. In our opinion, the unaudited condensed consolidated financial statements contain all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the condensed consolidated balance sheets, operating results and cash flows for the periods presented. The financial data at February 3, 2024 is derived from audited consolidated financial statements, which are included in our Annual Report on Form 10-K for the year ended February 3, 2024 , and should be read in conjunction with the audited consolidated financial statements and notes thereto. Interim results are not necessarily indicative of results for the full fiscal year due to seasonality and other factors. Reclassifications— Certain amounts reported in prior years in the financial statements have been reclassified to conform to the current year's presentation. These reclassifications had no effect on the consolidated statements of loss. Use of Estimates— The preparation of financial statements in conformity with U.S. GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements as well as the reported amounts of revenues and expenses during the reporting period. These estimates can also affect supplemental information disclosed by us, including information about contingencies, risk and financial condition. Actual results could differ from these estimates and assumptions. Restricted Cash— Cash and cash equivalents that are restricted as to withdrawal or use under the terms of certain contractual agreements are recorded as restricted cash in other current assets and other long-term assets on our condensed consolidated balance sheets. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statement of cash flows (in thousands): May 4, 2024 February 3, 2024 Cash and cash equivalents $ 74,864 $ 88,875 Restricted cash included in other current assets and other long-term assets 8,823 5,409 Total cash, cash equivalents, and restricted cash as shown in the statement of cash flows $ 83,687 $ 94,284 Restricted cash included in other current assets and other long-term assets represents amounts held as insurance collateral and collateral for bank guarantees on certain store operating leases. Recent Accounting Standards— We review recent account pronouncements on a quarterly basis and have excluded discussion of those that are not applicable and those that we determined did not have, or are not expected to have, a material impact on the condensed consolidated financial statements. Global Anti-Base Erosion Model Rules ("Pillar Two") The Organization for Economic Co-operation and Development ("OECD") has published a proposal to establish a new global minimum corporate tax rate of 15 %, commonly referred to as Pillar Two. While the U.S. has not yet adopted the Pillar Two framework into law, several countries in which we operate have enacted tax legislation based on the Pillar Two framework with certain components of the minimum tax rules effective beginning in fiscal year 2024 and further rules becoming effective beginning in fiscal year 2025. These rules are not expected to materially impact the Company’s Consolidated Financial Statements, considering the Company does not have material operations in jurisdictions with tax rates lower than the Pillar Two minimum rate. The Company will continue to monitor U.S. and global legislative action related to Pillar Two for potential impacts. |
Revenue
Revenue | 3 Months Ended |
May 04, 2024 | |
Revenue From Contract With Customer [Abstract] | |
Revenue | 2. Revenue The following table disaggregates net sales by geographic region (in thousands): Three Months Ended May 4, 2024 April 29, 2023 United States $ 133,873 $ 135,549 Europe 29,569 33,511 Canada 8,826 8,434 Australia 5,120 5,393 Net sales $ 177,388 $ 182,887 Net sales for the three months ended May 4, 2024 had no material affect from changes in foreign exchange rates , which consist of a $ 0.2 million increase in Europe, offset by a $ 0.2 million decrease in Australia. $- Our contract liabilities include deferred revenue related to our customer loyalty program and gift cards. The current liability for gift cards was $ 3.2 million at May 4, 2024 and $ 4.3 million at February 3, 2024, respectively. Deferred revenue related to our STASH loyalty program was $ 1.1 million and $ 1.0 million at May 4, 2024 and February 3, 2024 , respectively. |
Cash, Cash Equivalents and Mark
Cash, Cash Equivalents and Marketable Securities | 3 Months Ended |
May 04, 2024 | |
Cash And Cash Equivalents [Abstract] | |
Cash, Cash Equivalents and Marketable Securities | 3. Cash, Cash Equivalents and Marketable Securities The following tables summarize the estimated fair value of our cash, cash equivalents and marketable securities and the gross unrealized holding gains and losses (in thousands): May 4, 2024 Amortized Gross Gross Estimated Cash and cash equivalents: Cash $ 15,940 $ — $ — $ 15,940 Money market funds 19,921 — — 19,921 U.S. treasury and government agency securities 5,663 — — 5,663 Corporate debt securities 33,348 — ( 8 ) 33,340 Total cash and cash equivalents 74,872 — ( 8 ) 74,864 Marketable securities: U.S. treasury and government agency securities 16,912 — ( 3,247 ) 13,665 Corporate debt securities 36,564 — ( 685 ) 35,879 State and local government securities 6,025 — ( 49 ) 5,976 Certificate of deposits 11,607 — — 11,607 Variable-rate demand notes 4,630 — — 4,630 Total marketable securities $ 75,738 $ — $ ( 3,981 ) $ 71,757 February 3, 2024 Amortized Gross Gross Estimated Cash and cash equivalents: Cash $ 38,188 $ — $ — $ 38,188 Money market funds 11,322 — — 11,322 Corporate debt securities 39,374 — ( 9 ) 39,365 Total cash and cash equivalents 88,884 — ( 9 ) 88,875 Marketable securities: U.S. treasury and government agency securities 17,610 — ( 2,834 ) 14,776 Corporate debt securities 41,218 1 ( 948 ) 40,271 Certificates of deposit 16,607 — — 16,607 State and local government securities 6,525 — ( 105 ) 6,420 Variable-rate demand notes 4,630 — — 4,630 Total marketable securities $ 86,590 $ 1 $ ( 3,887 ) $ 82,704 All of our marketable securities have an effective maturity date or weighted average life of five years or less at the time of purchase and may be liquidated, at our discretion, prior to maturity. The following tables summarize the gross unrealized holding losses and fair value for investments in an unrealized loss position, and the length of time that individual securities have been in a continuous loss position (in thousands): May 4, 2024 Less Than 12 Months 12 Months or Greater Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Cash and cash equivalents: Corporate debt securities $ 28,155 $ ( 8 ) $ — $ — $ 28,155 $ ( 8 ) Total cash and cash equivalents 28,155 ( 8 ) — — 28,155 ( 8 ) Marketable securities: U.S. treasury and government agency securities — — 13,665 ( 3,247 ) 13,665 ( 3,247 ) Corporate debt securities — — 31,286 ( 685 ) 31,286 ( 685 ) State and local government securities — — 5,976 ( 49 ) 5,976 ( 49 ) Total marketable securities $ — $ — $ 50,927 $ ( 3,981 ) $ 50,927 $ ( 3,981 ) February 3, 2024 Less Than 12 Months 12 Months or Greater Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Cash and cash equivalents: Corporate debt securities $ 29,093 $ ( 9 ) $ — $ — $ 29,093 $ ( 9 ) Total cash and cash equivalents 29,093 ( 9 ) — — 29,093 ( 9 ) Marketable securities: U.S. treasury and government agency securities — — 14,777 ( 2,834 ) 14,777 ( 2,834 ) Corporate debt securities — — 37,878 ( 948 ) 37,878 ( 948 ) State and local government securities — — 6,420 ( 105 ) 6,420 ( 105 ) Total marketable securities $ — $ — $ 59,075 $ ( 3,887 ) $ 59,075 $ ( 3,887 ) |
Leases
Leases | 3 Months Ended |
May 04, 2024 | |
Leases [Abstract] | |
Leases | 4. Leases At May 4, 2024, we had operating leases for our retail stores, certain distribution and fulfillment facilities, vehicles and equipment. Our remaining lease terms vary from under one month to twelve years , with varying renewal and termination options. The following table presents components of lease expense (in thousands): Three Months Ended May 4, 2024 April 29, 2023 Operating lease expense $ 16,638 $ 17,766 Variable lease expense 3,377 3,052 Total lease expense (1) $ 20,015 $ 20,818 (1) Total lease expense includes short-term lease expense and sublease income which is immaterial to the Company. Total lease expense does not include right-of-use asset impairment charges, common area maintenance charges and other non-lease components. Supplemental cash flow information related to leases is as follows (in thousands): Three Months Ended May 4, 2024 April 29, 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ ( 17,276 ) $ ( 18,609 ) Right-of-use assets obtained in exchange for new operating lease liabilities 17,840 10,076 Weighted-average remaining lease term and discount rate were as follows: May 4, 2024 April 29, 2023 Weighted-average remaining lease term 4.9 5.0 Weighted-average discount rate 3.9 % 2.6 % At May 4, 2024, the maturities of our operating leases liabilities are as follows (in thousands): Fiscal 2024 $ 50,343 Fiscal 2025 58,819 Fiscal 2026 38,775 Fiscal 2027 29,418 Fiscal 2028 19,597 Thereafter 38,661 Total minimum lease payments 235,613 Less: interest ( 21,382 ) Present value of lease obligations 214,231 Less: current portion ( 59,191 ) Long-term lease obligations (1) $ 155,040 (1) Amounts in the table do not include contingent rent, common area maintenance charges and other non-lease components. At May 4, 2024, we have excluded from the table above $ 3.4 million of operating leases that were contractually executed, but had not yet commenced. These operating leases are expected to commence by the end of fiscal 2024 . |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
May 04, 2024 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 5. Commitments and Contingencies Purchase Commitments— At May 4, 2024, we had outstanding purchase orders to acquire merchandise from vendors of $ 221.6 million. We have an option to cancel these commitments with no notice prior to shipment, except for certain private label and international purchase orders in which we are obligated to repay contractual amounts upon cancellation. Litigation— We are involved from time to time in claims, proceedings and litigation arising in the ordinary course of business. We have made accruals with respect to these matters, where appropriate, which are reflected in our condensed consolidated financial statements. For some matters, the amount of liability is not probable or the amount cannot be reasonably estimated and therefore accruals have not been made. We may enter into discussions regarding settlement of these matters, and may enter into settlement agreements, if we believe settlement is in the best interest of our shareholders. On October 14, 2022, former employee Seana Neihart filed a representative action under California’s Private Attorneys General Act, California Labor Code section 2698 et seq (“PAGA”), against us. An answer to the complaint was filed on December 8, 2022. A first amended complaint was filed on February 8, 2023 adding Jessica King as a plaintiff. The lawsuit alleges a series of wage and hour violations under California’s Labor Code. Zumiez has answered the complaint. We are in the process of investigating the claims and we intend to vigorously defend ourselves. Insurance Reserves— We use a combination of third-party insurance and self-insurance for a number of risk management activities including workers’ compensation, general liability and employee-related health care benefits. We maintain reserves for our self-insured losses, which are estimated based on historical claims experience and actuarial and other assumptions. The self-insurance reserve at May 4, 2024 and February 3, 2024 was $ 1.5 million and $ 1.7 million, respectively. |
Revolving Credit Facilities and
Revolving Credit Facilities and Debt | 3 Months Ended |
May 04, 2024 | |
Debt Disclosure [Abstract] | |
Revolving Credit Facilities and Debt | 6. Revolving Credit Facilities and Debt We were previously parties to a Credit Agreement with Wells Fargo Bank, N.A. (the “Bank”) that provided us with a senior secured credit facility (“credit facility ”) for working capital and other general corporate purposes of up to $ 25.0 million through December 1, 2024. Effective as of May 3, 2024 (the “ Termination Date ”), we terminated the Credit Agreement with the Bank. There were no borrowings or open commercial letters of credit outstanding under the credit facility as of the Termination Date. At the time of the Termination Date, there were $ 3.4 million in issued, but undrawn, standby letters of credit that are being transitioned to restricted deposits with the Bank. There were no early termination penalties incurred by us in connection with the termination of the Credit Agreement. As referenced above, there were no borrowings or open commercial letters of credit outstanding under the credit facility and we believe that our significant sources of liquidity continue to be funds generated by our operating activities and available cash, cash equivalents and current marketable securities. Termination of the Credit Agreement allows us to discontinue paying an unused commitment fee of 0.50 % of the credit facility amount per annum. There were no borrowings outstanding under the credit facility at February 3, 2024 . We had no open commercial letters of credit outstanding as of February 3, 2024. We had $ 3.5 million in issued, but undrawn, standby letters of credit at February 3, 2024. |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
May 04, 2024 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 7. Fair Value Measurements We apply the following fair value hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: • Level 1— Quoted prices in active markets for identical assets or liabilities; • Level 2— Quoted prices for similar assets or liabilities in active markets or inputs that are observable; and • Level 3— Inputs that are unobservable. The following tables summarize assets measured at fair value on a recurring basis (in thousands): May 4, 2024 Level 1 Level 2 Level 3 Cash equivalents: Money market funds $ 19,921 $ — $ — U.S. treasury and government agency securities — $ 5,663 — Corporate debt securities — 33,340 — Marketable securities: U.S. treasury and government agency securities — 13,665 — Corporate debt securities — 35,879 — Certificates of deposit — 11,607 State and local government securities — 5,976 — Variable-rate demand notes — 4,630 — Long-term assets: Money market funds 8,823 — — Total $ 28,744 $ 110,760 $ — February 3, 2024 Level 1 Level 2 Level 3 Cash equivalents: Money market funds $ 11,322 $ — $ — Corporate debt securities — 39,365 — Marketable securities: U.S. treasury and government agency securities — 14,776 — Corporate debt securities — 40,271 — Certificates of deposit — 16,607 — State and local government securities — 6,420 — Variable-rate demand notes — 4,630 — Other long-term assets: — — — Money market funds 5,409 — — Total $ 16,731 $ 122,069 $ — The Level 2 marketable securities include U.S treasury and government agency securities, corporate debt securities, state and local municipal securities and variable-rate demand notes. Fair values are based on quoted market prices for similar assets or liabilities or determined using inputs that use readily observable market data that are actively quoted and can be validated through external sources, including third-party pricing services, brokers and market transactions. We review the pricing techniques and methodologies of the independent pricing service for Level 2 investments and believe that its policies adequately consider market activity, either based on specific transactions for the security valued or based on modeling of securities with similar credit quality, duration, yield and structure that were recently traded. We monitor security-specific valuation trends and we make inquiries with the pricing service about material changes or the absence of expected changes to understand the underlying factors and inputs and to validate the reasonableness of the pricing. Assets and liabilities recognized or disclosed at fair value on the consolidated financial statements on a nonrecurring basis include items such as fixed assets, operating lease right-of-use-assets, goodwill, other intangible assets and other assets. These assets are measured at fair value if determined to be impaired. During the three months ended May 4, 2024, we recognized $ 0.1 million in impairment losses related to fixed assets and no impairment losses related to operating lease right-of-use assets. During the three months ended April 29, 2023 , we recognized $ 0.2 million in impairment losses related to fixed assets and $ 0.1 million in impairment losses related to operating lease right-of-use assets. |
Stockholders' Equity
Stockholders' Equity | 3 Months Ended |
May 04, 2024 | |
Equity [Abstract] | |
Stockholders' Equity | 8. Stockholders’ Equity Accumulated Other Comprehensive Loss — The components of accumulated other comprehensive loss and the adjustments to other comprehensive income (loss) for amounts reclassified from accumulated other comprehensive loss into net loss are as follows (in thousands): Foreign currency Net unrealized Accumulated other Three months ended May 4, 2024: Balance at February 3, 2024 $ ( 16,146 ) $ ( 2,881 ) $ ( 19,027 ) Other comprehensive loss, net (1) ( 895 ) ( 103 ) ( 998 ) Balance at May 4, 2024 $ ( 17,041 ) $ ( 2,984 ) $ ( 20,025 ) Three months ended April 29, 2023: Balance at January 28, 2023 $ ( 15,101 ) $ ( 4,692 ) $ ( 19,793 ) Other comprehensive income, net (1) 386 330 716 Balance at April 29, 2023 $ ( 14,715 ) $ ( 4,362 ) $ ( 19,077 ) (1) Other comprehensive loss before reclassifications was $ 0.1 million, net of taxes for net unrealized losses on available-for-sale investments for the three months ended May 4, 2024. Other comprehensive income before reclassifications was $ 0.3 million, net of taxes for net unrealized losses on available-for-sale investments for the three months ended April 29, 2023. Net unrealized losses, net of taxes, reclassified from accumulated other comprehensive loss were less than $ 0.1 million for the three months ended May 4, 2024 and April 29, 2023, respectively. (2) Foreign currency translation adjustments are not adjusted for income taxes as they relate to permanent investments in our international subsidiaries. |
Equity Awards
Equity Awards | 3 Months Ended |
May 04, 2024 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Equity Awards | 9. Equity Awards We maintain several equity incentive plans under which we may grant incentive stock options, nonqualified stock options, stock bonuses, restricted stock awards, restricted stock units and stock appreciation rights to employees (including officers), non-employee directors and consultants. We account for stock-based compensation by recording the estimated fair value of stock-based awards granted as compensation expense over the vesting period, net of estimated forfeitures. Stock-based compensation expense is attributed to earnings using a straight-line method. We estimate forfeitures of stock-based awards based on historical experience and expected future activity. The fair value of restricted stock awards and units is measured based on the closing price of our common stock on the date of grant. The fair value of stock option grants is estimated on the date of grant using the Black-Scholes option pricing model. Total stock-based compensation expense is recognized on our condensed consolidated statements of loss as follows (in thousands): Three Months Ended May 4, 2024 April 29, 2023 Cost of goods sold $ 370 $ 392 Selling, general and administrative expenses 1,305 1,514 Total stock-based compensation expense $ 1,675 $ 1,906 At May 4, 2024, there was $ 13.4 million of total unrecognized compensation cost related to unvested stock options, restricted stock awards and restricted stock units. This cost has a weighted-average remaining recognition period of 1.4 years. The following table summarizes restricted stock awards and restricted stock units, collectively defined as “restricted equity awards” (in thousands, except grant date weighted-average fair value): Restricted Grant Date Intrinsic Outstanding at February 3, 2024 495 $ 26.14 Granted 459 $ 13.34 Vested ( 171 ) $ 27.86 Forfeited ( 5 ) $ 23.10 Outstanding at May 4, 2024 778 $ 18.23 $ 12,481 We had 0.6 million stock options outstanding at May 4, 2024 with a grant date weighted average exercise price of $ 22.15 and 0.4 million stock options outstanding at February 3, 2024 with a grant date weighted average exercise price of $ 26.51 . |
Earnings per Share, Basic and D
Earnings per Share, Basic and Diluted | 3 Months Ended |
May 04, 2024 | |
Earnings Per Share [Abstract] | |
Earnings per Share, Basic and Diluted | 10. Loss per Share, Basic and Diluted The following table sets forth the computation of basic and diluted loss per share (in thousands, except per share amounts): Three Months Ended May 4, 2024 April 29, 2023 Net loss $ ( 16,780 ) $ ( 18,382 ) Weighted average common shares for basic loss per share: 19,465 19,197 Dilutive effect of stock options and restricted stock — — Weighted average common shares for diluted loss per share: 19,465 19,197 Basic loss per share $ ( 0.86 ) $ ( 0.96 ) Diluted loss per share $ ( 0.86 ) $ ( 0.96 ) There were 0.6 mi llion and 0.4 million anti-dilutive common shares related to stock-based awards for the three months ended May 4, 2024 and April 29, 2023 , respectively. |
Subsequent Event
Subsequent Event | 3 Months Ended |
May 04, 2024 | |
Subsequent Events [Abstract] | |
Subsequent Event | 11. Subsequent Event On June 5, 2024, Zumiez Inc. approved the repurchase of up to an aggregate of $ 25 million of its Common Stock (the “Repurchase Program”). The repurchases will be made from time to time on the open market at prevailing market prices. The Repurchase Program is expected to continue through June 30, 2025, unless the time period is extended or shortened by the Board of Directors. |
Nature of Business and Basis _2
Nature of Business and Basis of Presentation (Policies) | 3 Months Ended |
May 04, 2024 | |
Accounting Policies [Abstract] | |
Fiscal Year | Fiscal Year— We use a fiscal calendar widely used by the retail industry that results in a fiscal year consisting of a 52- or 53-week period ending on the Saturday closest to January 31. Each fiscal year consists of four 13-week quarters, with an extra week added to the fourth quarter every five or six years. The three months ended May 4, 2024 and April 29, 2023 were 13-week periods. |
Basis of Presentation | Basis of Presentation— The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial reporting. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The unaudited condensed consolidated financial statements include the accounts of Zumiez Inc. and its wholly-owned subsidiaries. All significant intercompany transactions and balances are eliminated in consolidation. In our opinion, the unaudited condensed consolidated financial statements contain all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the condensed consolidated balance sheets, operating results and cash flows for the periods presented. The financial data at February 3, 2024 is derived from audited consolidated financial statements, which are included in our Annual Report on Form 10-K for the year ended February 3, 2024 , and should be read in conjunction with the audited consolidated financial statements and notes thereto. Interim results are not necessarily indicative of results for the full fiscal year due to seasonality and other factors. |
Reclassifications | Reclassifications— Certain amounts reported in prior years in the financial statements have been reclassified to conform to the current year's presentation. These reclassifications had no effect on the consolidated statements of loss. |
Use of Estimates | Use of Estimates— The preparation of financial statements in conformity with U.S. GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements as well as the reported amounts of revenues and expenses during the reporting period. These estimates can also affect supplemental information disclosed by us, including information about contingencies, risk and financial condition. Actual results could differ from these estimates and assumptions. |
Restricted Cash | Restricted Cash— Cash and cash equivalents that are restricted as to withdrawal or use under the terms of certain contractual agreements are recorded as restricted cash in other current assets and other long-term assets on our condensed consolidated balance sheets. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statement of cash flows (in thousands): May 4, 2024 February 3, 2024 Cash and cash equivalents $ 74,864 $ 88,875 Restricted cash included in other current assets and other long-term assets 8,823 5,409 Total cash, cash equivalents, and restricted cash as shown in the statement of cash flows $ 83,687 $ 94,284 Restricted cash included in other current assets and other long-term assets represents amounts held as insurance collateral and collateral for bank guarantees on certain store operating leases. |
Recent Accounting Standards | Recent Accounting Standards— We review recent account pronouncements on a quarterly basis and have excluded discussion of those that are not applicable and those that we determined did not have, or are not expected to have, a material impact on the condensed consolidated financial statements. |
Global Anti-Base Erosion Model Rules ("Pillar Two") | Global Anti-Base Erosion Model Rules ("Pillar Two") The Organization for Economic Co-operation and Development ("OECD") has published a proposal to establish a new global minimum corporate tax rate of 15 %, commonly referred to as Pillar Two. While the U.S. has not yet adopted the Pillar Two framework into law, several countries in which we operate have enacted tax legislation based on the Pillar Two framework with certain components of the minimum tax rules effective beginning in fiscal year 2024 and further rules becoming effective beginning in fiscal year 2025. These rules are not expected to materially impact the Company’s Consolidated Financial Statements, considering the Company does not have material operations in jurisdictions with tax rates lower than the Pillar Two minimum rate. The Company will continue to monitor U.S. and global legislative action related to Pillar Two for potential impacts. |
Nature of Business and Basis _3
Nature of Business and Basis of Presentation (Tables) | 3 Months Ended |
May 04, 2024 | |
Accounting Policies [Abstract] | |
Summary of Reconciliation of Cash, Cash Equivalents, and Restricted Cash | The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statement of cash flows (in thousands): May 4, 2024 February 3, 2024 Cash and cash equivalents $ 74,864 $ 88,875 Restricted cash included in other current assets and other long-term assets 8,823 5,409 Total cash, cash equivalents, and restricted cash as shown in the statement of cash flows $ 83,687 $ 94,284 |
Revenue (Tables)
Revenue (Tables) | 3 Months Ended |
May 04, 2024 | |
Revenue From Contract With Customer [Abstract] | |
Disaggregation of Net Sales by Geographic Region | The following table disaggregates net sales by geographic region (in thousands): Three Months Ended May 4, 2024 April 29, 2023 United States $ 133,873 $ 135,549 Europe 29,569 33,511 Canada 8,826 8,434 Australia 5,120 5,393 Net sales $ 177,388 $ 182,887 |
Cash, Cash Equivalents and Ma_2
Cash, Cash Equivalents and Marketable Securities (Tables) | 3 Months Ended |
May 04, 2024 | |
Cash And Cash Equivalents [Abstract] | |
Summary of Estimated Fair Value of Cash, Cash Equivalents and Marketable Securities | The following tables summarize the estimated fair value of our cash, cash equivalents and marketable securities and the gross unrealized holding gains and losses (in thousands): May 4, 2024 Amortized Gross Gross Estimated Cash and cash equivalents: Cash $ 15,940 $ — $ — $ 15,940 Money market funds 19,921 — — 19,921 U.S. treasury and government agency securities 5,663 — — 5,663 Corporate debt securities 33,348 — ( 8 ) 33,340 Total cash and cash equivalents 74,872 — ( 8 ) 74,864 Marketable securities: U.S. treasury and government agency securities 16,912 — ( 3,247 ) 13,665 Corporate debt securities 36,564 — ( 685 ) 35,879 State and local government securities 6,025 — ( 49 ) 5,976 Certificate of deposits 11,607 — — 11,607 Variable-rate demand notes 4,630 — — 4,630 Total marketable securities $ 75,738 $ — $ ( 3,981 ) $ 71,757 February 3, 2024 Amortized Gross Gross Estimated Cash and cash equivalents: Cash $ 38,188 $ — $ — $ 38,188 Money market funds 11,322 — — 11,322 Corporate debt securities 39,374 — ( 9 ) 39,365 Total cash and cash equivalents 88,884 — ( 9 ) 88,875 Marketable securities: U.S. treasury and government agency securities 17,610 — ( 2,834 ) 14,776 Corporate debt securities 41,218 1 ( 948 ) 40,271 Certificates of deposit 16,607 — — 16,607 State and local government securities 6,525 — ( 105 ) 6,420 Variable-rate demand notes 4,630 — — 4,630 Total marketable securities $ 86,590 $ 1 $ ( 3,887 ) $ 82,704 |
Summary of Gross Unrealized Holding Losses and Fair Value for Investments in an Unrealized Loss Position | The following tables summarize the gross unrealized holding losses and fair value for investments in an unrealized loss position, and the length of time that individual securities have been in a continuous loss position (in thousands): May 4, 2024 Less Than 12 Months 12 Months or Greater Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Cash and cash equivalents: Corporate debt securities $ 28,155 $ ( 8 ) $ — $ — $ 28,155 $ ( 8 ) Total cash and cash equivalents 28,155 ( 8 ) — — 28,155 ( 8 ) Marketable securities: U.S. treasury and government agency securities — — 13,665 ( 3,247 ) 13,665 ( 3,247 ) Corporate debt securities — — 31,286 ( 685 ) 31,286 ( 685 ) State and local government securities — — 5,976 ( 49 ) 5,976 ( 49 ) Total marketable securities $ — $ — $ 50,927 $ ( 3,981 ) $ 50,927 $ ( 3,981 ) February 3, 2024 Less Than 12 Months 12 Months or Greater Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Cash and cash equivalents: Corporate debt securities $ 29,093 $ ( 9 ) $ — $ — $ 29,093 $ ( 9 ) Total cash and cash equivalents 29,093 ( 9 ) — — 29,093 ( 9 ) Marketable securities: U.S. treasury and government agency securities — — 14,777 ( 2,834 ) 14,777 ( 2,834 ) Corporate debt securities — — 37,878 ( 948 ) 37,878 ( 948 ) State and local government securities — — 6,420 ( 105 ) 6,420 ( 105 ) Total marketable securities $ — $ — $ 59,075 $ ( 3,887 ) $ 59,075 $ ( 3,887 ) |
Leases (Tables)
Leases (Tables) | 3 Months Ended |
May 04, 2024 | |
Leases [Abstract] | |
Components of Lease Expense | The following table presents components of lease expense (in thousands): Three Months Ended May 4, 2024 April 29, 2023 Operating lease expense $ 16,638 $ 17,766 Variable lease expense 3,377 3,052 Total lease expense (1) $ 20,015 $ 20,818 (1) Total lease expense includes short-term lease expense and sublease income which is immaterial to the Company. Total lease expense does not include right-of-use asset impairment charges, common area maintenance charges and other non-lease components. |
Schedule of Supplemental Cash Flow Information Related to Leases | Supplemental cash flow information related to leases is as follows (in thousands): Three Months Ended May 4, 2024 April 29, 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ ( 17,276 ) $ ( 18,609 ) Right-of-use assets obtained in exchange for new operating lease liabilities 17,840 10,076 |
Schedule of Weighted-Average Remaining Lease Term and Discount Rate | Weighted-average remaining lease term and discount rate were as follows: May 4, 2024 April 29, 2023 Weighted-average remaining lease term 4.9 5.0 Weighted-average discount rate 3.9 % 2.6 % |
Schedule of Maturities of Operating Leases Liabilities | At May 4, 2024, the maturities of our operating leases liabilities are as follows (in thousands): Fiscal 2024 $ 50,343 Fiscal 2025 58,819 Fiscal 2026 38,775 Fiscal 2027 29,418 Fiscal 2028 19,597 Thereafter 38,661 Total minimum lease payments 235,613 Less: interest ( 21,382 ) Present value of lease obligations 214,231 Less: current portion ( 59,191 ) Long-term lease obligations (1) $ 155,040 (1) Amounts in the table do not include contingent rent, common area maintenance charges and other non-lease components. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
May 04, 2024 | |
Fair Value Disclosures [Abstract] | |
Assets Measured at Fair Value on a Recurring Basis | The following tables summarize assets measured at fair value on a recurring basis (in thousands): May 4, 2024 Level 1 Level 2 Level 3 Cash equivalents: Money market funds $ 19,921 $ — $ — U.S. treasury and government agency securities — $ 5,663 — Corporate debt securities — 33,340 — Marketable securities: U.S. treasury and government agency securities — 13,665 — Corporate debt securities — 35,879 — Certificates of deposit — 11,607 State and local government securities — 5,976 — Variable-rate demand notes — 4,630 — Long-term assets: Money market funds 8,823 — — Total $ 28,744 $ 110,760 $ — February 3, 2024 Level 1 Level 2 Level 3 Cash equivalents: Money market funds $ 11,322 $ — $ — Corporate debt securities — 39,365 — Marketable securities: U.S. treasury and government agency securities — 14,776 — Corporate debt securities — 40,271 — Certificates of deposit — 16,607 — State and local government securities — 6,420 — Variable-rate demand notes — 4,630 — Other long-term assets: — — — Money market funds 5,409 — — Total $ 16,731 $ 122,069 $ — |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 3 Months Ended |
May 04, 2024 | |
Equity [Abstract] | |
Schedule of Accumulated Other Comprehensive Loss | The components of accumulated other comprehensive loss and the adjustments to other comprehensive income (loss) for amounts reclassified from accumulated other comprehensive loss into net loss are as follows (in thousands): Foreign currency Net unrealized Accumulated other Three months ended May 4, 2024: Balance at February 3, 2024 $ ( 16,146 ) $ ( 2,881 ) $ ( 19,027 ) Other comprehensive loss, net (1) ( 895 ) ( 103 ) ( 998 ) Balance at May 4, 2024 $ ( 17,041 ) $ ( 2,984 ) $ ( 20,025 ) Three months ended April 29, 2023: Balance at January 28, 2023 $ ( 15,101 ) $ ( 4,692 ) $ ( 19,793 ) Other comprehensive income, net (1) 386 330 716 Balance at April 29, 2023 $ ( 14,715 ) $ ( 4,362 ) $ ( 19,077 ) (1) Other comprehensive loss before reclassifications was $ 0.1 million, net of taxes for net unrealized losses on available-for-sale investments for the three months ended May 4, 2024. Other comprehensive income before reclassifications was $ 0.3 million, net of taxes for net unrealized losses on available-for-sale investments for the three months ended April 29, 2023. Net unrealized losses, net of taxes, reclassified from accumulated other comprehensive loss were less than $ 0.1 million for the three months ended May 4, 2024 and April 29, 2023, respectively. (2) Foreign currency translation adjustments are not adjusted for income taxes as they relate to permanent investments in our international subsidiaries. |
Equity Awards (Tables)
Equity Awards (Tables) | 3 Months Ended |
May 04, 2024 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Summary of Total Stock-Based Compensation Expense | Total stock-based compensation expense is recognized on our condensed consolidated statements of loss as follows (in thousands): Three Months Ended May 4, 2024 April 29, 2023 Cost of goods sold $ 370 $ 392 Selling, general and administrative expenses 1,305 1,514 Total stock-based compensation expense $ 1,675 $ 1,906 |
Summary of Restricted Stock Awards and Restricted Stock Units | The following table summarizes restricted stock awards and restricted stock units, collectively defined as “restricted equity awards” (in thousands, except grant date weighted-average fair value): Restricted Grant Date Intrinsic Outstanding at February 3, 2024 495 $ 26.14 Granted 459 $ 13.34 Vested ( 171 ) $ 27.86 Forfeited ( 5 ) $ 23.10 Outstanding at May 4, 2024 778 $ 18.23 $ 12,481 |
Earnings per Share, Basic and_2
Earnings per Share, Basic and Diluted (Tables) | 3 Months Ended |
May 04, 2024 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings per Share | The following table sets forth the computation of basic and diluted loss per share (in thousands, except per share amounts): Three Months Ended May 4, 2024 April 29, 2023 Net loss $ ( 16,780 ) $ ( 18,382 ) Weighted average common shares for basic loss per share: 19,465 19,197 Dilutive effect of stock options and restricted stock — — Weighted average common shares for diluted loss per share: 19,465 19,197 Basic loss per share $ ( 0.86 ) $ ( 0.96 ) Diluted loss per share $ ( 0.86 ) $ ( 0.96 ) |
Nature of Business and Basis _4
Nature of Business and Basis of Presentation - Additional Information (Detail) | 3 Months Ended |
May 04, 2024 Store | |
Nature Of Business And Basis Of Presentation [Line Items] | |
Operated stores | 751 |
Global minimum corporate tax rate | 15% |
United States [Member] | |
Nature Of Business And Basis Of Presentation [Line Items] | |
Operated stores | 593 |
Canada [Member] | |
Nature Of Business And Basis Of Presentation [Line Items] | |
Operated stores | 47 |
Europe [Member] | |
Nature Of Business And Basis Of Presentation [Line Items] | |
Operated stores | 86 |
Australia [Member] | |
Nature Of Business And Basis Of Presentation [Line Items] | |
Operated stores | 25 |
Nature of Business and Basis _5
Nature of Business and Basis of Presentation - Summary of Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Detail) - USD ($) $ in Thousands | May 04, 2024 | Feb. 03, 2024 |
Restricted Cash And Cash Equivalents [Abstract] | ||
Cash and cash equivalents | $ 74,864 | $ 88,875 |
Restricted cash included in other current assets and other long-term assets | 8,823 | 5,409 |
Total cash, cash equivalents, and restricted cash as shown in the statement of cash flows | $ 83,687 | $ 94,284 |
Revenue - Disaggregation of Net
Revenue - Disaggregation of Net Sales by Geographic Region (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
May 04, 2024 | Apr. 29, 2023 | |
Disaggregation Of Revenue [Line Items] | ||
Net sales | $ 177,388 | $ 182,887 |
United States [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Net sales | 133,873 | 135,549 |
Europe [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Net sales | 29,569 | 33,511 |
Canada [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Net sales | 8,826 | 8,434 |
Australia [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Net sales | $ 5,120 | $ 5,393 |
Revenue - Additional Informatio
Revenue - Additional Information (Detail) - USD ($) | 3 Months Ended | |
May 04, 2024 | Feb. 03, 2024 | |
Disaggregation Of Revenue [Line Items] | ||
Increase in revenue due to changes in foreign exchange rates | $ 0 | |
Gift Cards [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Current liability for gift cards | 3,200,000 | $ 4,300,000 |
STASH Loyalty Program [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Current liability for gift cards | 1,100,000 | $ 1,000,000 |
Europe [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Increase in revenue due to changes in foreign exchange rates | 200,000 | |
Australia [Member] | ||
Disaggregation Of Revenue [Line Items] | ||
Decrease in net sales due to change in foreign exchange rates | $ 200,000 |
Cash, Cash Equivalents and Ma_3
Cash, Cash Equivalents and Marketable Securities - Summary of Estimated Fair Value of Cash, Cash Equivalents and Marketable Securities (Detail) - USD ($) $ in Thousands | May 04, 2024 | Feb. 03, 2024 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Cash and cash equivalents | $ 74,872 | $ 88,884 |
Gross Unrealized Holding Losses, Cash and cash equivalents | (8) | (9) |
Estimated Fair Value, Cash and cash equivalents | 74,864 | 88,875 |
Amortized Cost, Marketable securities | 75,738 | 86,590 |
Gross Unrealized Holding Gains, Marketable securities | 1 | |
Gross Unrealized Holding Losses, Marketable securities | (3,981) | (3,887) |
Estimated Fair Value, Marketable securities | 71,757 | 82,704 |
Cash [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Cash and cash equivalents | 15,940 | 38,188 |
Estimated Fair Value, Cash and cash equivalents | 15,940 | 38,188 |
Money Market Funds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Cash and cash equivalents | 19,921 | 11,322 |
Estimated Fair Value, Cash and cash equivalents | 19,921 | 11,322 |
U.S. Treasury and Government Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Cash and cash equivalents | 5,663 | |
Estimated Fair Value, Cash and cash equivalents | 5,663 | |
Amortized Cost, Marketable securities | 16,912 | 17,610 |
Gross Unrealized Holding Losses, Marketable securities | (3,247) | (2,834) |
Estimated Fair Value, Marketable securities | 13,665 | 14,776 |
Corporate Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Cash and cash equivalents | 33,348 | 39,374 |
Gross Unrealized Holding Losses, Cash and cash equivalents | (8) | (9) |
Estimated Fair Value, Cash and cash equivalents | 33,340 | 39,365 |
Amortized Cost, Marketable securities | 36,564 | 41,218 |
Gross Unrealized Holding Gains, Marketable securities | 1 | |
Gross Unrealized Holding Losses, Marketable securities | (685) | (948) |
Estimated Fair Value, Marketable securities | 35,879 | 40,271 |
State and Local Government Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Marketable securities | 6,025 | 6,525 |
Gross Unrealized Holding Losses, Marketable securities | (49) | (105) |
Estimated Fair Value, Marketable securities | 5,976 | 6,420 |
Certificates of Deposit [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Marketable securities | 11,607 | 16,607 |
Estimated Fair Value, Marketable securities | 11,607 | 16,607 |
Variable-rate Demand Notes [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost, Marketable securities | 4,630 | 4,630 |
Estimated Fair Value, Marketable securities | $ 4,630 | $ 4,630 |
Cash, Cash Equivalents and Ma_4
Cash, Cash Equivalents and Marketable Securities - Summary of Gross Unrealized Holding Losses and Fair Value for Investments in an Unrealized Loss Position (Detail) - USD ($) $ in Thousands | May 04, 2024 | Feb. 03, 2024 |
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, 12 Months or Greater | $ 50,927 | $ 59,075 |
Fair Value, Total | 50,927 | 59,075 |
Unrealized Losses, 12 Months or Greater | (3,981) | (3,887) |
Unrealized Losses, Total | (3,981) | (3,887) |
Cash and Cash Equivalents [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less Than 12 Months | 28,155 | 29,093 |
Fair Value, Total | 28,155 | 29,093 |
Unrealized Losses, Less Than 12 Months | (8) | (9) |
Unrealized Losses, Total | (8) | (9) |
U.S. Treasury and Government Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, 12 Months or Greater | 13,665 | 14,777 |
Fair Value, Total | 13,665 | 14,777 |
Unrealized Losses, 12 Months or Greater | (3,247) | (2,834) |
Unrealized Losses, Total | (3,247) | (2,834) |
Corporate Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, 12 Months or Greater | 31,286 | 37,878 |
Fair Value, Total | 31,286 | 37,878 |
Unrealized Losses, 12 Months or Greater | (685) | (948) |
Unrealized Losses, Total | (685) | (948) |
Corporate Debt Securities [Member] | Cash and Cash Equivalents [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, Less Than 12 Months | 28,155 | 29,093 |
Fair Value, Total | 28,155 | 29,093 |
Unrealized Losses, Less Than 12 Months | (8) | (9) |
Unrealized Losses, Total | (8) | (9) |
State and Local Government Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair Value, 12 Months or Greater | 5,976 | 6,420 |
Fair Value, Total | 5,976 | 6,420 |
Unrealized Losses, 12 Months or Greater | (49) | (105) |
Unrealized Losses, Total | $ (49) | $ (105) |
Leases - Additional Information
Leases - Additional Information (Detail) $ in Millions | 3 Months Ended |
May 04, 2024 USD ($) | |
Lessee Lease Description [Line Items] | |
Operating leases contractually executed but not yet commenced | $ 3.4 |
Maximum [Member] | |
Lessee Lease Description [Line Items] | |
Operating lease, lease terms | 12 years |
Minimum [Member] | |
Lessee Lease Description [Line Items] | |
Operating lease, lease terms | 1 month |
Leases - Components of Lease Ex
Leases - Components of Lease Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
May 04, 2024 | Apr. 29, 2023 | |
Lease Cost [Abstract] | ||
Operating lease expense | $ 16,638 | $ 17,766 |
Variable lease expense | 3,377 | 3,052 |
Total lease expense | $ 20,015 | $ 20,818 |
Leases - Schedule of Supplement
Leases - Schedule of Supplemental Cash Flow Information Related to Leases (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
May 04, 2024 | Apr. 29, 2023 | |
Cash paid for amounts included in the measurement of lease liabilities: | ||
Operating cash flows from operating leases | $ (17,276) | $ (18,609) |
Right-of-use assets obtained in exchange for new operating lease liabilities | $ 17,840 | $ 10,076 |
Leases - Schedule of Weighted-A
Leases - Schedule of Weighted-Average Remaining Lease Term and Discount Rate (Detail) | May 04, 2024 | Apr. 29, 2023 |
Leases [Abstract] | ||
Weighted-average remaining lease term | 4 years 10 months 24 days | 5 years |
Weighted-average discount rate | 3.90% | 2.60% |
Leases - Schedule of Maturities
Leases - Schedule of Maturities of Operating Leases Liabilities (Detail) - USD ($) $ in Thousands | May 04, 2024 | Feb. 03, 2024 |
Operating Lease Liabilities Payments Due [Abstract] | ||
Fiscal 2024 | $ 50,343 | |
Fiscal 2025 | 58,819 | |
Fiscal 2026 | 38,775 | |
Fiscal 2027 | 29,418 | |
Fiscal 2028 | 19,597 | |
Thereafter | 38,661 | |
Total minimum lease payments | 235,613 | |
Less: interest | (21,382) | |
Present value of lease obligations | 214,231 | |
Less: current portion | (59,191) | $ (60,885) |
Long-term lease obligations | $ 155,040 | $ 159,877 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions | May 04, 2024 | Feb. 03, 2024 |
Loss Contingencies [Line Items] | ||
Outstanding purchase orders | $ 221.6 | |
Self-insurance reserve | $ 1.5 | $ 1.7 |
Revolving Credit Facility and D
Revolving Credit Facility and Debt - Additional Information (Detail) - USD ($) | 3 Months Ended | ||
May 03, 2024 | May 04, 2024 | Feb. 03, 2024 | |
Commercial Letters of Credit [Member] | |||
Line of Credit Facility [Line Items] | |||
Letters of credit outstanding | $ 0 | $ 0 | |
Senior Secured Credit Facility Through December One Two Thousand Twenty Four [Member] | |||
Line of Credit Facility [Line Items] | |||
Maximum borrowing capacity under revolving credit facility | $ 25,000,000 | ||
Senior Secured Credit Facility [Member] | |||
Line of Credit Facility [Line Items] | |||
Credit agreement termination date | May 03, 2024 | ||
Percentage of unused commitment fee | 0.50% | ||
Outstanding borrowings under revolving lines of credit | $ 0 | 0 | |
Standby letters of credit issued amount | $ 3,400,000 | $ 3,500,000 | |
Termination penalties incurred. | $ 0 |
Fair Value Measurements - Asset
Fair Value Measurements - Assets Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands | May 04, 2024 | Feb. 03, 2024 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | $ 71,757 | $ 82,704 |
Other long-term assets | 12,495 | 12,159 |
Long-term assets | 335,593 | 337,639 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total | 28,744 | 16,731 |
Level 1 [Member] | Money Market Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 19,921 | 11,322 |
Other long-term assets | 5,409 | |
Long-term assets | 8,823 | |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total | 110,760 | 122,069 |
Level 2 [Member] | U.S. Treasury and Government Agency Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 5,663 | |
Marketable securities | 13,665 | 14,776 |
Level 2 [Member] | Corporate Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents | 33,340 | 39,365 |
Marketable securities | 35,879 | 40,271 |
Level 2 [Member] | Certificates of Deposit [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 11,607 | 16,607 |
Level 2 [Member] | State and Local Government Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | 5,976 | 6,420 |
Level 2 [Member] | Variable-rate Demand Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable securities | $ 4,630 | $ 4,630 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) - USD ($) | 3 Months Ended | |
May 04, 2024 | Apr. 29, 2023 | |
Fair Value Disclosures [Abstract] | ||
Impairment losses related to operating lease right-of-use assets | $ 0 | $ 100,000 |
Impairment losses related to fixed assets | $ 100,000 | $ 200,000 |
Stockholders' Equity - Schedule
Stockholders' Equity - Schedule of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
May 04, 2024 | Apr. 29, 2023 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | $ (19,027) | $ (19,793) |
Other comprehensive (loss) income, net | (998) | 716 |
Ending Balance | (20,025) | (19,077) |
Foreign Currency Translation Adjustments [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | (16,146) | (15,101) |
Other comprehensive (loss) income, net | (895) | 386 |
Ending Balance | (17,041) | (14,715) |
Net Unrealized Losses on Available-for-Sale Debt Securities [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | (2,881) | (4,692) |
Other comprehensive (loss) income, net | (103) | 330 |
Ending Balance | $ (2,984) | $ (4,362) |
Stockholders' Equity - Schedu_2
Stockholders' Equity - Schedule of Accumulated Other Comprehensive Loss (Parenthetical) (Detail) - USD ($) | 3 Months Ended | |
May 04, 2024 | Apr. 29, 2023 | |
Net Unrealized Losses on Available-for-Sale Investments [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Other comprehensive (loss) income, before reclassification tax | $ (100,000) | $ 300,000 |
Accumulated Other Comprehensive Loss [Member] | Maximum [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Other comprehensive loss (income), tax | $ 100,000 | $ 100,000 |
Equity Awards - Summary of Tota
Equity Awards - Summary of Total Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
May 04, 2024 | Apr. 29, 2023 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Total stock-based compensation expense | $ 1,675 | $ 1,906 |
Cost of Goods Sold [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Total stock-based compensation expense | 370 | 392 |
Selling, General and Administrative Expenses [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Total stock-based compensation expense | $ 1,305 | $ 1,514 |
Equity Awards - Additional Info
Equity Awards - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | |
May 04, 2024 | Feb. 03, 2024 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Total unrecognized compensation cost related to unvested stock options, restricted stock awards and restricted stock units | $ 13.4 | |
Weighted-average remaining recognition period related to unvested stock options, restricted stock awards and restricted stock units | 1 year 4 months 24 days | |
Stock Options [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock options outstanding | 0.6 | 0.4 |
Grant date weighted average exercise price | $ 22.15 | $ 26.51 |
Equity Awards - Summary of Rest
Equity Awards - Summary of Restricted Stock Awards and Restricted Stock Units (Detail) - Restricted Stock Awards and Restricted Stock Units [Member] $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended |
May 04, 2024 USD ($) $ / shares shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Restricted Stock Awards/Units, Beginning Balance | shares | 495 |
Restricted Stock Awards/Units, Granted | shares | 459 |
Restricted Stock Awards/Units, Vested | shares | (171) |
Restricted Stock Awards/Units, Forfeited | shares | (5) |
Restricted Stock Awards/Units, Ending Balance | shares | 778 |
Grant Date Weighted-Average Fair Value, Beginning Balance | $ / shares | $ 26.14 |
Grant Date Weighted-Average Fair Value, Granted | $ / shares | 13.34 |
Grant Date Weighted-Average Fair Value, Vested | $ / shares | 27.86 |
Grant Date Weighted-Average Fair Value, Forfeited | $ / shares | 23.10 |
Grant Date Weighted-Average Fair Value, Ending Balance | $ / shares | $ 18.23 |
Intrinsic Value, Ending Balance | $ | $ 12,481 |
Earnings per Share, Basic and_3
Earnings per Share, Basic and Diluted - Computation of Basic and Diluted Earnings per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
May 04, 2024 | Apr. 29, 2023 | |
Earnings Per Share [Abstract] | ||
Net loss | $ (16,780) | $ (18,382) |
Weighted average common shares for basic loss per share: | 19,465 | 19,197 |
Dilutive effect of stock options and restricted stock | 0 | 0 |
Weighted average common shares for diluted loss per share: | 19,465 | 19,197 |
Basic loss per share | $ (0.86) | $ (0.96) |
Diluted loss per share | $ (0.86) | $ (0.96) |
Earnings per Share, Basic and_4
Earnings per Share, Basic and Diluted - Additional Information (Detail) - shares shares in Millions | 3 Months Ended | |
May 04, 2024 | Apr. 29, 2023 | |
Earnings Per Share [Abstract] | ||
Anti-dilutive common shares related to stock-based awards | 0.6 | 0.4 |
Subsequent Event - Additional I
Subsequent Event - Additional Information (Detail) | Jun. 05, 2024 USD ($) |
Subsequent Event [Member] | Maximum [Member] | |
Subsequent Event [Line Items] | |
Shares approved to purchase under stock repurchase program, value | $ 25,000,000 |