Lululemon Athletica (LULU) 10-Q 30 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jul. 29, 2018	Aug. 27, 2018
Document Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 29, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Trading Symbol	LULU
Entity Registrant Name	lululemon athletica inc.
Entity Central Index Key	1,397,187
Current Fiscal Year End Date	--02-03
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		122,594,553

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jul. 29, 2018	Jan. 28, 2018
Current assets
Cash and cash equivalents	$ 777,841	$ 990,501
Accounts receivable	23,535	19,173
Inventories	392,672	329,562
Prepaid and receivable income taxes	62,203	48,948
Other prepaid expenses and other current assets	51,786	48,098
Total current assets	1,308,037	1,436,282
Property and equipment, net	487,546	473,642
Goodwill and intangible assets, net	24,255	24,679
Deferred income tax assets	28,345	32,491
Other non-current assets	32,974	31,389
Total assets	1,881,157	1,998,483
Current liabilities
Accounts payable	110,523	24,646
Accrued inventory liabilities	12,597	13,027
Accrued compensation and related expenses	62,794	70,141
Current income taxes payable	3,021	15,700
Unredeemed gift card liability	64,420	82,668
Revolving credit facility	100,000	0
Other current liabilities	95,806	86,416
Total current liabilities	449,161	292,598
Non-current income taxes payable	44,078	48,268
Deferred income tax liabilities	1,582	1,336
Other non-current liabilities	66,121	59,321
Total liabilities	560,942	401,523
Stockholders' equity
Undesignated preferred stock, $0.01 par value: 5,000 shares authorized; none issued and outstanding	0	0
Exchangeable stock, no par value: 60,000 shares authorized; 9,776 and 9,781 issued and outstanding	0	0
Special voting stock, $0.000005 par value: 60,000 shares authorized; 9,776 and 9,781 issued and outstanding	0	0
Common stock, $0.005 par value: 400,000 shares authorized; 122,656 and 125,650 issued and outstanding	613	628
Additional paid-in capital	299,702	284,253
Retained earnings	1,224,044	1,455,002
Accumulated other comprehensive loss	(204,144)	(142,923)
Total stockholders' equity	1,320,215	1,596,960
Total liabilities and stockholders' equity	$ 1,881,157	$ 1,998,483

CONSOLIDATED BALANCE SHEETS (U3

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Jul. 29, 2018	Jan. 28, 2018
Statement of Financial Position [Abstract]
Undesignated preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Undesignated preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Undesignated preferred stock, shares issued (in shares)	0	0
Undesignated preferred stock, shares outstanding (in shares)	0	0
Exchangeable stock, shares authorized (in shares)	60,000,000	60,000,000
Exchangeable stock, shares issued (in shares)	9,776,000	9,781,000
Exchangeable stock, shares outstanding (in shares)	9,776,000	9,781,000
Special voting stock, par value (in dollars per share)	$ 0.000005	$ 0.000005
Special voting stock, shares authorized (in shares)	60,000,000	60,000,000
Special voting stock, shares issued (in shares)	9,776,000	9,781,000
Special voting stock, shares outstanding (in shares)	9,776,000	9,781,000
Common stock, par value (in dollars per share)	$ 0.005	$ 0.005
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares issued (in shares)	122,656,000	125,650,000
Common stock, shares outstanding (in shares)	122,656,000	125,650,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 29, 2018	Jul. 30, 2017	Jul. 29, 2018	Jul. 30, 2017
Income Statement [Abstract]
Net revenue	$ 723,500	$ 581,054	$ 1,373,206	$ 1,101,361
Cost of goods sold	327,306	283,632	632,279	547,044
Gross profit	396,194	297,422	740,927	554,317
Selling, general and administrative expenses	261,986	225,524	502,414	424,665
Asset impairment and restructuring costs	0	3,186	0	15,517
Income from operations	134,208	68,712	238,513	114,135
Other income (expense), net	1,591	812	4,509	1,719
Income before income tax expense	135,799	69,524	243,022	115,854
Income tax expense	40,029	20,813	72,099	35,897
Net income	95,770	48,711	170,923	79,957
Other comprehensive (loss) income:
Foreign currency translation adjustment	(18,249)	72,854	(61,221)	41,079
Comprehensive income	$ 77,521	$ 121,565	$ 109,702	$ 121,036
Basic earnings per share (in dollars per share)	$ 0.71	$ 0.36	$ 1.27	$ 0.59
Diluted earnings per share (in dollars per share)	$ 0.71	$ 0.36	$ 1.26	$ 0.58
Basic weighted-average number of shares outstanding (in shares)	133,986	136,171	134,744	136,604
Diluted weighted-average number of shares outstanding (in shares)	134,530	136,303	135,230	136,747

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - 6 months ended Jul. 29, 2018 - USD ($) shares in Thousands	Total	Exchangeable Stock	Special Voting Stock	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Jan. 28, 2018		9,781	9,781	125,650
Beginning balance at Jan. 28, 2018	$ 1,596,960,000		$ 0	$ 628,000	$ 284,253,000	$ 1,455,002,000	$ (142,923,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	170,923,000					170,923,000
Foreign currency translation adjustment	(61,221,000)						(61,221,000)
Common stock issued upon exchange of exchangeable shares (in shares)		(5)	(5)	5
Common stock issued upon exchange of exchangeable shares	0
Stock-based compensation expense	13,048,000				13,048,000
Common stock issued upon settlement of stock-based compensation (in shares)				437
Common stock issued upon settlement of stock-based compensation	13,752,000			$ 2,000	13,750,000
Shares withheld related to net share settlement of stock-based compensation (in shares)				(81)
Shares withheld related to net share settlement of stock-based compensation	$ (7,001,000)				(7,001,000)
Repurchase of common stock (in shares)	(3,400)			(3,355)
Repurchase of common stock	$ (406,245,700)			$ (17,000)	(4,348,000)	(401,881,000)
Ending balance (in shares) at Jul. 29, 2018		9,776	9,776	122,656
Ending balance at Jul. 29, 2018	$ 1,320,215,000		$ 0	$ 613,000	$ 299,702,000	$ 1,224,044,000	$ (204,144,000)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jul. 29, 2018	Jul. 30, 2017
Cash flows from operating activities
Net income	$ 170,923	$ 79,957
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	55,429	51,569
Deferred income taxes	2,464	(12,746)
Stock-based compensation expense	13,048	8,710
Asset impairment for ivivva restructuring	0	11,593
Settlement of derivatives not designated in a hedging relationship	(1,807)	0
Changes in operating assets and liabilities:
Inventories	(73,065)	(10,041)
Prepaid and receivable income taxes	(13,255)	15,029
Other prepaid expenses and other current and non-current assets	(7,724)	(20,376)
Accounts payable	86,885	(6,784)
Accrued inventory liabilities	615	9,571
Accrued compensation and related expenses	(4,926)	(8,970)
Current income taxes payable	(11,828)	(25,310)
Unredeemed gift card liability	(17,043)	(15,192)
Non-current income taxes payable	(4,190)	0
Other current and non-current liabilities	14,500	25,028
Net cash provided by operating activities	210,026	102,038
Cash flows from investing activities
Purchase of property and equipment	(84,007)	(49,889)
Settlement of net investment hedges	4,514	0
Other investing activities	771	0
Net cash used in investing activities	(89,292)	(49,889)
Cash flows from financing activities
Proceeds from settlement of stock-based compensation	13,752	915
Taxes paid related to net share settlement of stock-based compensation	(7,001)	(2,024)
Repurchase of common stock	(406,246)	(90,801)
Net increase in revolving credit facility	100,000	0
Other financing activities	(744)	0
Net cash used in financing activities	(300,239)	(91,910)
Effect of exchange rate changes on cash and cash equivalents	(33,155)	26,127
Decrease in cash and cash equivalents	(212,660)	(13,634)
Cash and cash equivalents, beginning of period	990,501	734,846
Cash and cash equivalents, end of period	$ 777,841	$ 721,212

NATURE OF OPERATIONS AND BASIS

NATURE OF OPERATIONS AND BASIS OF PRESENTATION	6 Months Ended
	Jul. 29, 2018
Accounting Policies [Abstract]
NATURE OF OPERATIONS AND BASIS OF PRESENTATION	NATURE OF OPERATIONS AND BASIS OF PRESENTATION Nature of operations lululemon athletica inc., a Delaware corporation ("lululemon" and, together with its subsidiaries unless the context otherwise requires, the "Company") is engaged in the design, distribution, and retail of healthy lifestyle inspired athletic apparel. The Company primarily conducts its business through company-operated stores and direct to consumer through e-commerce. It also generates net revenue from outlets, sales from temporary locations, sales to wholesale accounts, showrooms, warehouse sales, and license and supply arrangements. The Company operates stores in the United States, Canada, Australia, China, the United Kingdom, New Zealand, Germany, Japan, South Korea, Singapore, Ireland, Sweden, and Switzerland. There were 415 and 404 company-operated stores in operation as of July 29, 2018 and January 28, 2018 , respectively. Basis of presentation The unaudited interim consolidated financial statements as of July 29, 2018 and for the quarters and two quarters ended July 29, 2018 and July 30, 2017 are presented in United States dollars and have been prepared by the Company under the rules and regulations of the Securities and Exchange Commission ("SEC"). The financial information is presented in accordance with United States generally accepted accounting principles ("GAAP") for interim financial information and, accordingly, does not include all of the information and footnotes required by GAAP for complete financial statements. The financial information as of January 28, 2018 is derived from the Company's audited consolidated financial statements and related notes for the fiscal year ended January 28, 2018 , which are included in Item 8 in the Company's fiscal 2017 Annual Report on Form 10-K filed with the SEC on March 27, 2018 . These unaudited interim consolidated financial statements reflect all adjustments which are, in the opinion of management, necessary to a fair statement of the results for the interim periods presented. These unaudited interim consolidated financial statements should be read in conjunction with the Company's consolidated financial statements and related notes included in Item 8 in the Company's fiscal 2017 Annual Report on Form 10-K. The Company's fiscal year ends on the Sunday closest to January 31 of the following year, typically resulting in a 52-week year, but occasionally giving rise to an additional week, resulting in a 53-week year. Fiscal 2018 will end on February 3, 2019 and will be a 53-week year. The Company's business is affected by the pattern of seasonality common to most retail apparel businesses. Historically, the Company has recognized a significant portion of its operating profit in the fourth fiscal quarter of each year as a result of increased net revenue during the holiday season. Certain comparative figures have been reclassified to conform to the financial presentation adopted for the current year.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Jul. 29, 2018
Accounting Policies [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS Recently adopted accounting pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, Revenue from Contracts with Customers ("ASC 606") which supersedes the revenue recognition requirements in ASC 605 Revenue Recognition . This ASU requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company adopted ASC 606 on January 29, 2018 on a modified retrospective basis. There were no changes to the consolidated statement of operations as a result of the adoption, and the timing and amount of its revenue recognition remained substantially unchanged under this new guidance. Under the provisions of ASC 606, the Company is now required to present its provision for sales returns on a gross basis, rather than a net basis. The Company's liability for sales return refunds is recognized within other current liabilities, and the Company now presents an asset for the value of inventory which is expected to be returned within other current assets on the consolidated balance sheets. Under the modified retrospective approach, the comparative prior period information has not been restated for this change. The effect of adoption of ASC 606 on the Company's consolidated balance sheet as of July 29, 2018 was as follows: July 29, 2018 As Reported Adjustment for ASC 606 Balances Without Adoption of ASC 606 (In thousands) Other prepaid expenses and other current assets $ 51,786 $ (2,751 ) $ 49,035 Current assets 1,308,037 (2,751 ) 1,305,286 Total assets 1,881,157 (2,751 ) 1,878,406 Other current liabilities 95,806 2,751 98,557 Current liabilities 449,161 2,751 451,912 Total liabilities 560,942 2,751 563,693 In May 2017, the FASB amended ASC 718, Stock Compensation , to reduce diversity in practice and to clarify when a change to the terms or conditions of a share-based payment award must be accounted for as a modification and will result in fewer changes to the terms of an award being accounted for as modifications. The new guidance was effective beginning in the first quarter of fiscal 2018 and will apply on a prospective basis. The Company does not expect it to have a material impact on its consolidated financial statements. Accounting policies as a result of recently adopted accounting pronouncements Revenue recognition Net revenue is comprised of company-operated store net revenue, direct to consumer net revenue through websites and mobile apps, including mobile apps on in-store devices that allow demand to be fulfilled via the Company's distribution centers, and other net revenue, which includes revenue from outlets, temporary locations, sales to wholesale accounts, showrooms, warehouse sales, and license and supply arrangement net revenue, which consists of royalties as well as sales of the Company's products to licensees. All revenue is reported net of sales taxes collected from customers on behalf of taxing authorities. Revenue is recognized when performance obligations are satisfied through the transfer of control of promised goods to the Company's customers. Control transfers once a customer has the ability to direct the use of, and obtain substantially all of the benefits from, the product. This includes the transfer of legal title, physical possession, the risks and rewards of ownership, and customer acceptance. Revenue from company-operated stores and other retail locations is recognized at the point of sale. Direct to consumer revenue and sales to wholesale accounts are recognized upon receipt by the customer. Revenue is presented net of an allowance for estimated returns, which is based on historic experience. The Company's liability for sales return refunds is recognized within other current liabilities, and an asset for the value of inventory which is expected to be returned is recognized within other prepaid expenses and other current assets on the consolidated balance sheets. Shipping fees billed to customers are recorded as revenue, and shipping costs are recognized within selling, general and administrative expenses in the same period the related revenue is recognized. Proceeds from the sale of gift cards are initially deferred and recognized within unredeemed gift card liability on the consolidated balance sheets, and are recognized as revenue when tendered for payment. Based on historical experience, and to the extent there is no requirement to remit unclaimed card balances to government agencies, an estimate of the gift card balances that will never be redeemed is recognized as revenue in proportion to gift cards which have been redeemed. Recently issued accounting pronouncements In February 2016, the FASB issued ASC 842, Leases ("ASC 842") to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. Under the new guidance, lessees are required to recognize a lease liability, which represents the discounted obligation to make future minimum lease payments, and a corresponding right-of-use asset on the balance sheet for most leases. This guidance will be effective for the Company beginning in its first quarter of fiscal 2019, with early application permitted. The Company will adopt ASC 842 in its first quarter of fiscal 2019. The new guidance can be applied using either a modified retrospective approach at the beginning of the earliest period presented, or at the beginning of the period in which it is adopted, rather than at the beginning of the earliest comparative period presented. The Company is continuing to evaluate the method of adoption. The Company expects to apply the transition package of three practical expedients which allow companies not to reassess whether agreements contain leases, the classification of leases, and the capitalization of initial direct costs. The Company expects to make an accounting policy election to recognize lease expense for leases with a term of 12 months or less on a straight-line basis over the lease term and recognize no right of use asset or lease liability for those leases. The Company is in the process of implementing new lease accounting software and continues to evaluate the impact this standard will have on its consolidated financial statements, disclosures, and internal controls. It is expected that the primary financial statement impact upon adoption will be the recognition, on a discounted basis, of the Company's minimum commitments under noncancelable operating leases as right of use assets and obligations on the consolidated balance sheets. It is expected that this will result in a significant increase in assets and liabilities on the consolidated balance sheets. In August 2017, the FASB amended ASC 815, Derivatives and Hedging to more closely align hedge accounting with companies' risk management strategies, simplify the application of hedge accounting, and increase transparency as to the scope and results of hedging programs. It will make more financial and nonfinancial hedging strategies eligible for hedge accounting. It also amends the presentation and disclosure requirements and changes how companies assess effectiveness. This guidance will be effective for the Company beginning in its first quarter of fiscal 2019, with early application permitted. The Company is currently evaluating the impact that this new guidance may have on its consolidated financial statements. In January 2018, the FASB released guidance on the accounting for the global intangible low-taxed income ("GILTI") provisions of the tax bill H.R.1, commonly known as the U.S. Tax Cuts and Jobs Act ("U.S. tax reform"). The GILTI provisions impose a tax on foreign subsidiary earnings in excess of a deemed return on the foreign subsidiary's tangible assets. The guidance indicates that an accounting policy election can be made to treat the GILTI tax as either a current tax in the period in which it is incurred or as a deferred tax. The Company has not yet made its accounting policy election but will do so during the one-year measurement period as allowed by the SEC. In accordance with the FASB guidance, until an accounting policy election is made, any taxes related to the GILTI provisions will be treated as a current income tax expense in the period incurred. In February 2018, the FASB amended ASC 220, Income Statement—Reporting Comprehensive Income . ASC 740, Income Taxes , requires that the effect of a change in tax laws or rates on deferred tax assets and liabilities be included in income from continuing operations. In situations in which the tax effects of a transaction were initially recognized directly in other comprehensive income, this results in "stranded" amounts in accumulated other comprehensive income related to the income tax rate differential. The amendments to ASC 220 allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the enactment of the U.S. tax reform. The guidance in the ASU is effective for the Company beginning in its first quarter of fiscal 2019 with early adoption permitted. The Company does not expect to elect to reclassify "stranded" amounts from accumulated other comprehensive income to retained earnings.

CREDIT FACILITY CREDIT FACILITY

CREDIT FACILITY CREDIT FACILITY	6 Months Ended
	Jul. 29, 2018
Debt Disclosure [Abstract]
CREDIT FACILITY	CREDIT FACILITY On June 6, 2018, the Company entered into Amendment No. 1 to its credit agreement. This amends the credit agreement to provide for (i) an increase in the aggregate commitments under the unsecured five -year revolving credit facility to $400.0 million , with an increase of the sub-limits for the issuance of letters of credit and extensions of swing line loans to $50.0 million for each, (ii) an increase in the option, subject to certain conditions as set forth in the credit agreement, to request increases in commitments under the revolving facility from $400.0 million to $600.0 million , and (iii) an extension in the maturity of the revolving facility from December 15, 2021 to June 6, 2023. In addition, this amendment decreases the applicable margins for LIBOR loans from 1.00% - 1.75% to 1.00% - 1.50% and for alternate base rate loans from 0.00% - 0.75% to 0.00% - 0.50% , reduces the commitment fee on average daily unused amounts under the revolving facility from 0.125% - 0.200% to 0.10% - 0.20% , and reduces fees for unused letters of credit from 1.00% - 1.75% to 1.00% - 1.50% . As of July 29, 2018 , the Company had borrowings of $100.0 million outstanding under this credit facility, as well as letters of credit of $1.3 million . The weighted-average interest rate on funds borrowed as of July 29, 2018 was 3.32% . The Company had no borrowings outstanding under this credit facility as of January 28, 2018 .

STOCK-BASED COMPENSATION AND BE

STOCK-BASED COMPENSATION AND BENEFIT PLANS	6 Months Ended
	Jul. 29, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION AND BENEFIT PLANS	STOCK-BASED COMPENSATION AND BENEFIT PLANS Stock-based compensation plans The Company's eligible employees participate in various stock-based compensation plans, which are provided by the Company directly. Stock-based compensation expense charged to income for the plans was $13.0 million and $8.7 million for the two quarters ended July 29, 2018 and July 30, 2017 , respectively. Total unrecognized compensation cost for all stock-based compensation plans was $59.2 million at July 29, 2018 , which is expected to be recognized over a weighted-average period of 2.3 years. Company stock options, performance-based restricted stock units, restricted shares, and restricted stock units A summary of the Company's stock option, performance-based restricted stock unit, restricted share, and restricted stock unit activity as of July 29, 2018 , and changes during the first two quarters then ended, is presented below: Stock Options Performance-Based Restricted Stock Units Restricted Shares Restricted Stock Units Number Weighted-Average Exercise Price Number Weighted-Average Grant Date Fair Value Number Weighted-Average Grant Date Fair Value Number Weighted-Average Grant Date Fair Value (In thousands, except per share amounts) Balance at January 28, 2018 1,117 $ 56.44 329 $ 60.42 21 $ 52.45 427 $ 57.54 Granted 308 86.99 85 87.19 6 124.19 248 87.18 Exercised/released 245 56.20 39 63.04 21 52.45 145 59.37 Forfeited/expired 277 58.49 127 61.35 — — 40 64.58 Balance at July 29, 2018 903 $ 66.31 248 $ 68.72 6 $ 124.19 490 $ 71.45 Exercisable at July 29, 2018 186 $ 56.47 The fair value of each stock option granted is estimated on the date of grant using the Black-Scholes model. The assumptions used to calculate the fair value of the options granted are evaluated and revised, as necessary, to reflect market conditions and the Company's historical experience. The expected term of the options is based upon the historical experience of similar awards, giving consideration to expectations of future employee behavior. Expected volatility is based upon the historical volatility of the Company's common stock for the period corresponding with the expected term of the options. The risk-free interest rate is based on the U.S. Treasury yield curve for the period corresponding with the expected term of the options. The following are weighted averages of the assumptions that were used in calculating the fair value of stock options granted in the first two quarters of fiscal 2018 : Two Quarters Ended Expected term 3.75 years Expected volatility 36.88 % Risk-free interest rate 2.46 % Dividend yield — % The Company's performance-based restricted stock units are awarded to eligible employees and entitle the grantee to receive a maximum of two shares of common stock per performance-based restricted stock unit if the Company achieves specified performance goals and the grantee remains employed during the vesting period. The fair value of performance-based restricted stock units is based on the closing price of the Company's common stock on the award date. Expense for performance-based restricted stock units is recognized when it is probable that the performance goal will be achieved. The fair value of the restricted shares and restricted stock units is based on the closing price of the Company's common stock on the award date. Employee share purchase plan The Company's board of directors and stockholders approved the Company's Employee Share Purchase Plan ("ESPP") in September 2007. Contributions are made by eligible employees, subject to certain limits defined in the ESPP, and the Company matches one-third of the contribution. The maximum number of shares authorized to be purchased under the ESPP is 6.0 million shares. All shares purchased under the ESPP are purchased in the open market. During the quarter ended July 29, 2018 , there were 23.8 thousand shares purchased. Defined contribution pension plans During the second quarter of fiscal 2016, the Company began offering defined contribution pension plans to its eligible employees in Canada and the United States. Participating employees may elect to defer and contribute a portion of their eligible compensation to a plan up to limits stated in the plan documents, not to exceed the dollar amounts set by applicable laws. The Company matches 50% to 75% of the contribution depending on the participant's length of service, and the contribution is subject to a two year vesting period. The Company's net expense for the defined contribution plans was $3.1 million and $2.7 million in the first two quarters of fiscal 2018 and fiscal 2017 , respectively.

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	6 Months Ended
	Jul. 29, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENT	FAIR VALUE MEASUREMENT Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are made using a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value: • Level 1 - defined as observable inputs such as quoted prices in active markets; • Level 2 - defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and • Level 3 - defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. Assets and liabilities measured at fair value on a recurring basis The fair value measurement is categorized in its entirety by reference to its lowest level of significant input. As of July 29, 2018 and January 28, 2018 , the Company held certain assets and liabilities that are required to be measured at fair value on a recurring basis: July 29, 2018 Level 1 Level 2 Level 3 Balance Sheet Classification (In thousands) Money market funds $ 143,478 $ 143,478 $ — $ — Cash and cash equivalents Term deposits 337,818 — 337,818 — Cash and cash equivalents Net forward currency contract assets 3,254 — 3,254 — Other prepaid expenses and other current assets Net forward currency contract liabilities 5,891 — 5,891 — Other current liabilities January 28, 2018 Level 1 Level 2 Level 3 Balance Sheet Classification (In thousands) Term deposits $ 258,238 $ — $ 258,238 $ — Cash and cash equivalents Net forward currency contract assets 7,889 — 7,889 — Other prepaid expenses and other current assets Net forward currency contract liabilities 8,771 — 8,771 — Other current liabilities The Company records accounts receivable, accounts payable, accrued liabilities, and borrowings under the revolving credit facility at cost. The carrying values of these instruments approximate their fair value due to their short-term maturities. The Company has short-term, highly liquid investments classified as cash equivalents, which are invested in money market funds, Treasury bills, and term deposits. The Company records cash equivalents at their original purchase prices plus interest that has accrued at the stated rate. The fair values of the forward currency contract assets and liabilities are determined using observable Level 2 inputs, including foreign currency spot exchange rates, forward pricing curves, and interest rates. The fair values consider the credit risk of the Company and its counterparties. They are presented at their gross fair values. However, the Company's Master International Swap Dealers Association, Inc., Agreements and other similar arrangements allow net settlements under certain conditions. Assets and liabilities measured at fair value on a non-recurring basis In addition to assets and liabilities that are recorded at fair value on a recurring basis, the Company has impaired certain long-lived assets and recorded them at their estimated fair value on a non-recurring basis. The fair value of these long-lived assets was determined using Level 3 inputs, principally the present value of the estimated future cash flows expected from their use and eventual disposition. Please refer to Note 7 of these unaudited interim consolidated financial statements for further details regarding the impairment of long-lived assets as a result of the ivivva restructuring. The Company has also recorded certain lease termination liabilities at fair value on a non-recurring basis, determined using Level 3 inputs based on remaining lease rentals and reduced by estimated sublease income. As of July 29, 2018 and January 28, 2018 , the Company had lease termination liabilities of $3.2 million and $6.4 million , respectively. This was primarily as a result of the ivivva restructuring.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	6 Months Ended
	Jul. 29, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS Foreign exchange risk The Company is exposed to risks associated with changes in foreign currency exchange rates and uses derivative financial instruments to manage its exposure to certain of these foreign currency exchange rate risks. The Company does not enter into derivative contracts for speculative or trading purposes. The Company currently hedges against changes in the Canadian dollar to U.S. dollar exchange rate using forward currency contracts. Net investment hedges The Company is exposed to foreign exchange gains and losses which arise on translation of its foreign subsidiaries' balance sheets into U.S. dollars. These gains and losses are recorded as a foreign currency translation adjustment in accumulated other comprehensive income or loss within stockholders' equity. The Company holds a significant portion of its assets in Canada and enters into forward currency contracts designed to hedge a portion of the foreign currency exposure that arises on translation of a Canadian subsidiary into U.S. dollars. These forward currency contracts are designated as net investment hedges. The effective portions of the hedges are reported in accumulated other comprehensive income or loss and will subsequently be reclassified to net earnings in the period in which the hedged investment is either sold or substantially liquidated. Hedge effectiveness is measured using a method based on changes in forward exchange rates. The Company recorded no ineffectiveness from net investment hedges during the first two quarters of fiscal 2018 . The Company classifies the cash flows at settlement of its net investment hedges within investing activities in the consolidated statements of cash flows. Derivatives not designated as hedging instruments The Company is exposed to gains and losses arising from changes in foreign exchange rates associated with transactions which are undertaken by its subsidiaries in currencies other than their functional currency. Such transactions include intercompany transactions and inventory purchases. These transactions result in the recognition of certain foreign currency denominated monetary assets and liabilities which are remeasured to the quarter-end or settlement date exchange rate. The resulting foreign currency gains and losses are recorded in selling, general and administrative expenses. During the first two quarters of fiscal 2018 , the Company entered into certain forward currency contracts designed to economically hedge the foreign exchange revaluation gains and losses that are recognized by its Canadian subsidiaries on U.S. dollar denominated monetary assets and liabilities. The Company has not applied hedge accounting to these instruments and the change in fair value of these derivatives is recorded within selling, general and administrative expenses. The Company classifies the cash flows at settlement of its forward currency contracts which are not designated in hedging relationships within operating activities in the consolidated statements of cash flows. Outstanding notional amounts The Company had foreign exchange forward contracts outstanding with the following notional amounts: July 29, 2018 July 30, 2017 (In thousands) Derivatives designated as net investment hedges $ 339,000 $ 78,000 Derivatives not designated in a hedging relationship 321,000 65,000 The forward currency contracts designated as net investment hedges mature on different dates between August 2018 and January 2019. The forward currency contracts not designated in a hedging relationship mature on different dates between August 2018 and January 2019. Quantitative disclosures about derivative financial instruments The Company presents its derivative assets and derivative liabilities at their gross fair values within other prepaid expenses and other current assets and other current liabilities on the consolidated balance sheets. However, the Company's Master International Swap Dealers Association, Inc., Agreements and other similar arrangements allow net settlements under certain conditions. As of July 29, 2018 , there were derivative assets of $3.3 million and derivative liabilities of $5.9 million subject to enforceable netting arrangements. The fair values of forward currency contracts were as follows: July 29, 2018 July 30, 2017 (In thousands) Net forward currency contract assets, recognized within other prepaid expenses and other current assets: Derivatives designated as net investment hedges $ 3,254 $ — Derivatives not designated in a hedging relationship — 5,937 Net forward currency contract liabilities, recognized within other current liabilities: Derivatives designated as net investment hedges — 7,068 Derivatives not designated in a hedging relationship 5,891 — The pre-tax gains and losses on foreign exchange forward contracts recorded in accumulated other comprehensive income are as follows: Quarter Ended Two Quarters Ended July 29, 2018 July 30, 2017 July 29, 2018 July 30, 2017 (In thousands) Gains (losses) recognized in foreign currency translation adjustment: Derivatives designated as net investment hedges $ 5,721 $ (8,925 ) $ 16,538 $ (8,925 ) No gains or losses have been reclassified from accumulated other comprehensive income into net income for derivative financial instruments in a net investment hedging relationship, as the Company has not sold or liquidated (or substantially liquidated) its hedged subsidiary. The pre-tax net foreign exchange and derivative gains and losses recorded in the consolidated statement of operations are as follows: Quarter Ended Two Quarters Ended July 29, 2018 July 30, 2017 July 29, 2018 July 30, 2017 (In thousands) Gains (losses) recognized in selling, general and administrative expenses: Foreign exchange gains (losses) $ 2,960 $ (9,303 ) $ 12,605 $ (3,511 ) Derivatives not designated in a hedging relationship (5,539 ) 7,634 (15,587 ) 7,634 Net foreign exchange and derivative (losses) gains $ (2,579 ) $ (1,669 ) $ (2,982 ) $ 4,123 Credit risk The Company is exposed to credit-related losses in the event of nonperformance by the counterparties to the forward currency contracts. The credit risk amount is the Company's unrealized gains on its derivative instruments, based on foreign currency rates at the time of nonperformance. The Company's forward currency contracts are entered into with large, reputable financial institutions that are monitored by the Company for counterparty risk. The Company's derivative contracts contain certain credit risk-related contingent features. Under certain circumstances, including an event of default, bankruptcy, termination, and cross default under the Company's revolving credit facility, the Company may be required to make immediate payment for outstanding liabilities under its derivative contracts.

ASSET IMPAIRMENT AND RESTRUCTUR

ASSET IMPAIRMENT AND RESTRUCTURING	6 Months Ended
	Jul. 29, 2018
Restructuring and Related Activities [Abstract]
ASSET IMPAIRMENT AND RESTRUCTURING	ASSET IMPAIRMENT AND RESTRUCTURING During fiscal 2017, the Company restructured its ivivva operations. On August 20, 2017 , the Company closed 48 of its 55 ivivva branded company-operated stores and all other ivivva branded temporary locations. As a result of this restructuring, the Company recognized aggregate pre-tax charges of $47.2 million during fiscal 2017, inclusive of $23.2 million recognized during the first two quarters of fiscal 2017. A summary of the pre-tax charges recognized in connection with the Company's restructuring of its ivivva operations is as follows: Quarter Ended Two Quarters Ended July 29, 2018 July 30, 2017 July 29, 2018 July 30, 2017 (In thousands) Costs recorded in cost of goods sold: Provision to reduce inventories to net realizable value $ — $ 962 $ — $ 2,904 Expected loss on committed inventory purchases — (941 ) — 2,536 Accelerated depreciation — 2,223 — 2,223 — 2,244 — 7,663 Costs recorded in operating expenses: Impairment of property and equipment — — — 11,593 Employee related costs — 2,458 — 3,196 Lease termination and other restructuring costs — 728 — 728 Asset impairment and restructuring costs — 3,186 — 15,517 Restructuring and related costs $ — $ 5,430 $ — $ 23,180 Income tax recoveries of $1.4 million and $6.1 million were recorded on the above items in the second quarter and the first two quarters of fiscal 2017, respectively. These income tax recoveries were based on the expected annual tax rate of the applicable tax jurisdictions. Costs recorded in cost of goods sold During the first two quarters of fiscal 2017, the Company recognized expenses of $7.7 million in cost of goods sold as a result of the restructuring of its ivivva operations. This included $2.9 million to reduce inventories to their estimated net realizable value, and $2.5 million for the losses the Company expected to incur on certain inventory and fabric purchase commitments. During the second quarter of fiscal 2017, the Company took delivery of inventory that it had previously committed to purchase. As a result, there was a reduction in the Company's liability for expected losses on committed inventory purchases and a corresponding increase in its provision to reduce inventories to net realizable value. The Company also recorded accelerated depreciation charges of $2.2 million during the first two quarters of fiscal 2017, primarily related to leasehold improvements and furniture and fixtures for company operated-stores that closed during the third quarter of fiscal 2017. Costs recorded in operating expenses The Company recognized asset impairment and restructuring costs of $15.5 million during the first two quarters of fiscal 2017 as a result of the restructuring of its ivivva operations. As a result of the plan to close the majority of the ivivva branded locations, the long-lived assets of each ivivva branded location were tested for impairment as of April 30, 2017. For impaired locations, a loss was recognized representing the difference between the net book value of the long-lived assets and their estimated fair value. Impairment losses totaling $11.6 million were recognized during the first quarter of fiscal 2017. These losses primarily relate to leasehold improvements and furniture and fixtures of the company-operated stores segment. These assets were retired during the third quarter of fiscal 2017 in conjunction with the closures of the company-operated stores. During the first two quarters of fiscal 2017, the Company recognized employee related expenses as a result of the restructuring of $3.2 million as well as lease termination and other restructuring costs of $0.7 million .

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jul. 29, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The U.S. tax reform was enacted on December 22, 2017 and introduced significant changes to U.S. income tax laws. The U.S. tax reform reduced the U.S. federal income tax rate from 35% to 21%, introduced a shift to a territorial tax system and changed how foreign earnings are subject to U.S. tax, and imposed a mandatory one-time transition tax on the deemed repatriation of accumulated undistributed earnings of foreign subsidiaries. The U.S. tax reform also introduced new taxes on certain foreign-sourced earnings and certain related-party payments, which are referred to as the GILTI tax and the base erosion anti-abuse tax. Accounting for the income tax effects of the U.S. tax reform is complex and requires significant judgement and estimates in the interpretation and calculations of its provisions. The SEC issued Staff Accounting Bulletin 118 ("SAB 118") which allows companies to record provisional estimates of the impacts of the U.S. tax reform within a one year measurement period. As disclosed in Note 14 to the audited consolidated financial statements included in Item 8 of the Company's fiscal 2017 Annual Report on Form 10-K filed with the SEC on March 27, 2018 , the Company recorded certain provisional amounts in the fourth quarter of fiscal 2017 and expects the accounting for the income tax effects of the U.S. tax reform to be completed in fiscal 2018. As the Company completes its analysis of the U.S. tax reform it may make adjustments to the provisional amounts recognized during fiscal 2017, and will incorporate any additional interpretations or guidance that may be issued. The Company may also identify additional effects not reflected as of July 29, 2018 . Any such adjustments may materially impact the provision for income taxes and the effective income tax rate in the period in which the adjustments are made. As of July 29, 2018 , no deferred income tax liabilities have been recognized on any of the undistributed earnings of the Company's foreign subsidiaries as these earnings were indefinitely reinvested outside of the United States. The Company is continuing to evaluate the impact that the U.S. tax reform will have upon the taxes which may become payable upon repatriation, its reinvestment plans, and the most efficient means of deploying its capital resources globally. As this analysis has not yet been completed, it is possible that amounts determined to be indefinitely reinvested outside of the U.S. may ultimately be repatriated, resulting in additional tax liabilities being recognized.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jul. 29, 2018
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The details of the computation of basic and diluted earnings per share are as follows: Quarter Ended Two Quarters Ended July 29, 2018 July 30, 2017 July 29, 2018 July 30, 2017 (In thousands, except per share amounts) Net income $ 95,770 $ 48,711 $ 170,923 $ 79,957 Basic weighted-average number of shares outstanding 133,986 136,171 134,744 136,604 Assumed conversion of dilutive stock options and awards 544 132 486 143 Diluted weighted-average number of shares outstanding 134,530 136,303 135,230 136,747 Basic earnings per share $ 0.71 $ 0.36 $ 1.27 $ 0.59 Diluted earnings per share $ 0.71 $ 0.36 $ 1.26 $ 0.58 The Company's calculation of weighted-average shares includes the common stock of the Company as well as the exchangeable shares. Exchangeable shares are the equivalent of common shares in all material respects. All classes of stock have, in effect, the same rights and share equally in undistributed net income. For the two quarters ended July 29, 2018 and July 30, 2017 , 48.5 thousand and 0.2 million stock options and awards, respectively, were anti-dilutive to earnings per share and therefore have been excluded from the computation of diluted earnings per share. On December 1, 2016, the Company's board of directors approved a program to repurchase shares of the Company's common stock up to an aggregate value of $100.0 million . This stock repurchase program was completed during the third quarter of fiscal 2017. On November 29, 2017, the Company's board of directors approved a stock repurchase program for up to $200.0 million . On June 6, 2018, the board of directors approved an increase to this stock repurchase program, authorizing the repurchase of up to a total of $600.0 million of the Company's common shares on the open market or in privately negotiated transactions. Common shares repurchased on the open market are at prevailing market prices, including under plans complying with the provisions of Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934. The timing and actual number of common shares to be repurchased will depend upon market conditions, eligibility to trade, and other factors, in accordance with Securities and Exchange Commission requirements, and the repurchase program is expected to be completed by November 2019. As of July 29, 2018 , the remaining aggregate value of shares available to be repurchased under this program was $192.8 million . During the two quarters ended July 29, 2018 and July 30, 2017 , 3.4 million and 1.7 million shares, respectively, were repurchased under the program at a total cost of $406.2 million and $90.8 million , respectively. Subsequent to July 29, 2018 , and up to August 27, 2018 , 0.1 million shares were repurchased at a total cost of $7.9 million .

SUPPLEMENTARY FINANCIAL INFORMA

SUPPLEMENTARY FINANCIAL INFORMATION	6 Months Ended
	Jul. 29, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SUPPLEMENTARY FINANCIAL INFORMATION	SUPPLEMENTARY FINANCIAL INFORMATION A summary of certain consolidated balance sheet accounts is as follows: July 29, January 28, (In thousands) Inventories: Finished goods $ 411,801 $ 344,695 Provision to reduce inventories to net realizable value (19,129 ) (15,133 ) $ 392,672 $ 329,562 July 29, January 28, (In thousands) Property and equipment, net: Land $ 78,829 $ 83,048 Buildings 38,100 39,278 Leasehold improvements 313,062 301,449 Furniture and fixtures 94,270 91,778 Computer hardware 64,060 61,734 Computer software 181,909 173,997 Equipment and vehicles 14,993 14,806 Work in progress 78,503 51,260 Property and equipment, gross 863,726 817,350 Accumulated depreciation (376,180 ) (343,708 ) $ 487,546 $ 473,642 Goodwill and intangible assets, net: Goodwill $ 25,496 $ 25,496 Changes in foreign currency exchange rates (1,241 ) (890 ) 24,255 24,606 Intangible assets, net — 73 $ 24,255 $ 24,679 Other non-current assets: Security deposits $ 13,869 $ 11,599 Deferred lease assets 8,908 10,458 Other 10,197 9,332 $ 32,974 $ 31,389 Other current liabilities: Accrued duty, freight, and other operating expenses $ 44,808 $ 33,695 Sales tax collected 13,205 11,811 Sales return allowance 8,911 6,293 Accrued rent 6,234 7,074 Forward currency contract liabilities 5,891 8,771 Accrued capital expenditures 4,671 5,714 Lease termination liabilities 3,219 6,427 Other 8,867 6,631 $ 95,806 $ 86,416 Other non-current liabilities: Deferred lease liabilities $ 30,061 $ 27,186 Tenant inducements 30,510 26,250 Other 5,550 5,885 $ 66,121 $ 59,321

SEGMENT REPORTING

SEGMENT REPORTING	6 Months Ended
	Jul. 29, 2018
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING The Company applies ASC Topic 280, Segment Reporting ("ASC 280"), in determining reportable segments for its financial statement disclosure. The Company reports segments based on the financial information it uses in managing its business. The Company's reportable segments are comprised of company-operated stores and direct to consumer. Direct to consumer represents sales from the Company's e-commerce websites and mobile apps. Outlets, temporary locations, sales to wholesale accounts, showrooms, warehouse sale net revenue, and license and supply arrangements have been combined into other. During the first quarter of fiscal 2018 , the Company reviewed its general corporate expenses and determined certain costs which were previously classified as general corporate expense are more appropriately classified within the direct to consumer segment. Accordingly, comparative figures have been reclassified to conform to the financial presentation adopted for the current year. Quarter Ended Two Quarters Ended July 29, 2018 July 30, 2017 July 29, 2018 July 30, 2017 (In thousands) Net revenue: Company-operated stores $ 486,368 $ 413,944 $ 919,499 $ 793,043 Direct to consumer 167,405 113,049 325,248 210,272 Other 69,727 54,061 128,459 98,046 $ 723,500 $ 581,054 $ 1,373,206 $ 1,101,361 Segmented income from operations: Company-operated stores $ 125,868 $ 92,609 $ 225,155 $ 170,139 Direct to consumer 67,033 38,748 129,300 72,846 Other 13,094 6,952 24,317 9,760 205,995 138,309 378,772 252,745 General corporate expense 71,787 64,167 140,259 115,430 Restructuring and related costs — 5,430 — 23,180 Income from operations 134,208 68,712 238,513 114,135 Other income (expense), net 1,591 812 4,509 1,719 Income before income tax expense $ 135,799 $ 69,524 $ 243,022 $ 115,854 Capital expenditures: Company-operated stores $ 27,765 $ 16,634 $ 47,001 $ 23,802 Direct to consumer 593 6,861 1,314 8,841 Corporate and other 21,335 6,515 35,692 17,246 $ 49,693 $ 30,010 $ 84,007 $ 49,889 Depreciation and amortization: Company-operated stores $ 18,489 $ 15,881 $ 35,571 $ 31,081 Direct to consumer 2,302 4,353 4,901 6,347 Corporate and other 7,865 8,172 14,957 14,141 $ 28,656 $ 28,406 $ 55,429 $ 51,569 The accelerated depreciation related to the restructuring of the ivivva operations is included in corporate and other in the above breakdown of depreciation and amortization. The following table disaggregates the Company's net revenue by geographic area. The economic conditions in these areas could affect the amount and timing of the Company's net revenue and cash flows. Quarter Ended Two Quarters Ended July 29, 2018 July 30, 2017 July 29, 2018 July 30, 2017 (In thousands) United States $ 512,413 $ 413,634 $ 974,683 $ 793,101 Canada 124,278 108,446 236,427 200,092 Outside of North America 86,809 58,974 162,096 108,168 $ 723,500 $ 581,054 $ 1,373,206 $ 1,101,361

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS	6 Months Ended
	Jul. 29, 2018
Commitments and Contingencies Disclosure [Abstract]
LEGAL PROCEEDINGS	LEGAL PROCEEDINGS In addition to the legal matters described below, the Company is, from time to time, involved in routine legal matters incidental to the conduct of its business, including legal matters such as initiation and defense of proceedings to protect intellectual property rights, personal injury claims, product liability claims, employment claims, and similar matters. The Company believes the ultimate resolution of any such current proceeding will not have a material adverse effect on its consolidated balance sheets, results of operations or cash flows. On October 9, 2015, certain current and former hourly employees of the Company filed a class action lawsuit in the Supreme Court of New York entitled Rebecca Gathmann-Landini et al v. lululemon USA inc. On December 2, 2015, the case was moved to the United States District Court for the Eastern District of New York. The lawsuit alleges that the Company violated various New York labor codes by failing to pay all earned wages, including overtime compensation. The plaintiffs are seeking an unspecified amount of damages. The Company intends to vigorously defend this matter. On December 20, 2017, former lululemon employee Shayla Famouri filed a lawsuit in Los Angeles Superior Court against the Company and a former employee of the Company. The plaintiff alleges claims for sexual assault and battery, sexual harassment, retaliation, creating a hostile work environment and related claims. The complaint seeks damages in the amount of $3.0 million , as well as non-monetary relief such as policy change and an apology. The Company intends to vigorously defend this matter.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	6 Months Ended
	Jul. 29, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENT The Company evaluates events or transactions that occur after the balance sheet date through to the date which the financial statements are issued, for potential recognition or disclosure in its consolidated financial statements in accordance with ASC Topic 855, Subsequent Events. On August 13, 2018, the Company repaid the $100.0 million outstanding on its revolving credit facility.

NATURE OF OPERATIONS AND BASI20

NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Policies)	6 Months Ended
	Jul. 29, 2018
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The unaudited interim consolidated financial statements as of July 29, 2018 and for the quarters and two quarters ended July 29, 2018 and July 30, 2017 are presented in United States dollars and have been prepared by the Company under the rules and regulations of the Securities and Exchange Commission ("SEC"). The financial information is presented in accordance with United States generally accepted accounting principles ("GAAP") for interim financial information and, accordingly, does not include all of the information and footnotes required by GAAP for complete financial statements. The financial information as of January 28, 2018 is derived from the Company's audited consolidated financial statements and related notes for the fiscal year ended January 28, 2018 , which are included in Item 8 in the Company's fiscal 2017 Annual Report on Form 10-K filed with the SEC on March 27, 2018 . These unaudited interim consolidated financial statements reflect all adjustments which are, in the opinion of management, necessary to a fair statement of the results for the interim periods presented. These unaudited interim consolidated financial statements should be read in conjunction with the Company's consolidated financial statements and related notes included in Item 8 in the Company's fiscal 2017 Annual Report on Form 10-K.
Fiscal period	The Company's fiscal year ends on the Sunday closest to January 31 of the following year, typically resulting in a 52-week year, but occasionally giving rise to an additional week, resulting in a 53-week year. Fiscal 2018 will end on February 3, 2019 and will be a 53-week year.
Reclassification	Certain comparative figures have been reclassified to conform to the financial presentation adopted for the current year.
Recent accounting pronouncements	Recently adopted accounting pronouncements In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09, Revenue from Contracts with Customers ("ASC 606") which supersedes the revenue recognition requirements in ASC 605 Revenue Recognition . This ASU requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company adopted ASC 606 on January 29, 2018 on a modified retrospective basis. There were no changes to the consolidated statement of operations as a result of the adoption, and the timing and amount of its revenue recognition remained substantially unchanged under this new guidance. Under the provisions of ASC 606, the Company is now required to present its provision for sales returns on a gross basis, rather than a net basis. The Company's liability for sales return refunds is recognized within other current liabilities, and the Company now presents an asset for the value of inventory which is expected to be returned within other current assets on the consolidated balance sheets. Under the modified retrospective approach, the comparative prior period information has not been restated for this change. In May 2017, the FASB amended ASC 718, Stock Compensation , to reduce diversity in practice and to clarify when a change to the terms or conditions of a share-based payment award must be accounted for as a modification and will result in fewer changes to the terms of an award being accounted for as modifications. The new guidance was effective beginning in the first quarter of fiscal 2018 and will apply on a prospective basis. The Company does not expect it to have a material impact on its consolidated financial statements. Accounting policies as a result of recently adopted accounting pronouncements Revenue recognition Net revenue is comprised of company-operated store net revenue, direct to consumer net revenue through websites and mobile apps, including mobile apps on in-store devices that allow demand to be fulfilled via the Company's distribution centers, and other net revenue, which includes revenue from outlets, temporary locations, sales to wholesale accounts, showrooms, warehouse sales, and license and supply arrangement net revenue, which consists of royalties as well as sales of the Company's products to licensees. All revenue is reported net of sales taxes collected from customers on behalf of taxing authorities. Revenue is recognized when performance obligations are satisfied through the transfer of control of promised goods to the Company's customers. Control transfers once a customer has the ability to direct the use of, and obtain substantially all of the benefits from, the product. This includes the transfer of legal title, physical possession, the risks and rewards of ownership, and customer acceptance. Revenue from company-operated stores and other retail locations is recognized at the point of sale. Direct to consumer revenue and sales to wholesale accounts are recognized upon receipt by the customer. Revenue is presented net of an allowance for estimated returns, which is based on historic experience. The Company's liability for sales return refunds is recognized within other current liabilities, and an asset for the value of inventory which is expected to be returned is recognized within other prepaid expenses and other current assets on the consolidated balance sheets. Shipping fees billed to customers are recorded as revenue, and shipping costs are recognized within selling, general and administrative expenses in the same period the related revenue is recognized. Proceeds from the sale of gift cards are initially deferred and recognized within unredeemed gift card liability on the consolidated balance sheets, and are recognized as revenue when tendered for payment. Based on historical experience, and to the extent there is no requirement to remit unclaimed card balances to government agencies, an estimate of the gift card balances that will never be redeemed is recognized as revenue in proportion to gift cards which have been redeemed. Recently issued accounting pronouncements In February 2016, the FASB issued ASC 842, Leases ("ASC 842") to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. Under the new guidance, lessees are required to recognize a lease liability, which represents the discounted obligation to make future minimum lease payments, and a corresponding right-of-use asset on the balance sheet for most leases. This guidance will be effective for the Company beginning in its first quarter of fiscal 2019, with early application permitted. The Company will adopt ASC 842 in its first quarter of fiscal 2019. The new guidance can be applied using either a modified retrospective approach at the beginning of the earliest period presented, or at the beginning of the period in which it is adopted, rather than at the beginning of the earliest comparative period presented. The Company is continuing to evaluate the method of adoption. The Company expects to apply the transition package of three practical expedients which allow companies not to reassess whether agreements contain leases, the classification of leases, and the capitalization of initial direct costs. The Company expects to make an accounting policy election to recognize lease expense for leases with a term of 12 months or less on a straight-line basis over the lease term and recognize no right of use asset or lease liability for those leases. The Company is in the process of implementing new lease accounting software and continues to evaluate the impact this standard will have on its consolidated financial statements, disclosures, and internal controls. It is expected that the primary financial statement impact upon adoption will be the recognition, on a discounted basis, of the Company's minimum commitments under noncancelable operating leases as right of use assets and obligations on the consolidated balance sheets. It is expected that this will result in a significant increase in assets and liabilities on the consolidated balance sheets. In August 2017, the FASB amended ASC 815, Derivatives and Hedging to more closely align hedge accounting with companies' risk management strategies, simplify the application of hedge accounting, and increase transparency as to the scope and results of hedging programs. It will make more financial and nonfinancial hedging strategies eligible for hedge accounting. It also amends the presentation and disclosure requirements and changes how companies assess effectiveness. This guidance will be effective for the Company beginning in its first quarter of fiscal 2019, with early application permitted. The Company is currently evaluating the impact that this new guidance may have on its consolidated financial statements. In January 2018, the FASB released guidance on the accounting for the global intangible low-taxed income ("GILTI") provisions of the tax bill H.R.1, commonly known as the U.S. Tax Cuts and Jobs Act ("U.S. tax reform"). The GILTI provisions impose a tax on foreign subsidiary earnings in excess of a deemed return on the foreign subsidiary's tangible assets. The guidance indicates that an accounting policy election can be made to treat the GILTI tax as either a current tax in the period in which it is incurred or as a deferred tax. The Company has not yet made its accounting policy election but will do so during the one-year measurement period as allowed by the SEC. In accordance with the FASB guidance, until an accounting policy election is made, any taxes related to the GILTI provisions will be treated as a current income tax expense in the period incurred. In February 2018, the FASB amended ASC 220, Income Statement—Reporting Comprehensive Income . ASC 740, Income Taxes , requires that the effect of a change in tax laws or rates on deferred tax assets and liabilities be included in income from continuing operations. In situations in which the tax effects of a transaction were initially recognized directly in other comprehensive income, this results in "stranded" amounts in accumulated other comprehensive income related to the income tax rate differential. The amendments to ASC 220 allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the enactment of the U.S. tax reform. The guidance in the ASU is effective for the Company beginning in its first quarter of fiscal 2019 with early adoption permitted. The Company does not expect to elect to reclassify "stranded" amounts from accumulated other comprehensive income to retained earnings.
Revenue recognition	Revenue recognition Net revenue is comprised of company-operated store net revenue, direct to consumer net revenue through websites and mobile apps, including mobile apps on in-store devices that allow demand to be fulfilled via the Company's distribution centers, and other net revenue, which includes revenue from outlets, temporary locations, sales to wholesale accounts, showrooms, warehouse sales, and license and supply arrangement net revenue, which consists of royalties as well as sales of the Company's products to licensees. All revenue is reported net of sales taxes collected from customers on behalf of taxing authorities. Revenue is recognized when performance obligations are satisfied through the transfer of control of promised goods to the Company's customers. Control transfers once a customer has the ability to direct the use of, and obtain substantially all of the benefits from, the product. This includes the transfer of legal title, physical possession, the risks and rewards of ownership, and customer acceptance. Revenue from company-operated stores and other retail locations is recognized at the point of sale. Direct to consumer revenue and sales to wholesale accounts are recognized upon receipt by the customer. Revenue is presented net of an allowance for estimated returns, which is based on historic experience. The Company's liability for sales return refunds is recognized within other current liabilities, and an asset for the value of inventory which is expected to be returned is recognized within other prepaid expenses and other current assets on the consolidated balance sheets. Shipping fees billed to customers are recorded as revenue, and shipping costs are recognized within selling, general and administrative expenses in the same period the related revenue is recognized. Proceeds from the sale of gift cards are initially deferred and recognized within unredeemed gift card liability on the consolidated balance sheets, and are recognized as revenue when tendered for payment. Based on historical experience, and to the extent there is no requirement to remit unclaimed card balances to government agencies, an estimate of the gift card balances that will never be redeemed is recognized as revenue in proportion to gift cards which have been redeemed.
Fair value measurement	The Company records accounts receivable, accounts payable, accrued liabilities, and borrowings under the revolving credit facility at cost. The carrying values of these instruments approximate their fair value due to their short-term maturities. The Company has short-term, highly liquid investments classified as cash equivalents, which are invested in money market funds, Treasury bills, and term deposits. The Company records cash equivalents at their original purchase prices plus interest that has accrued at the stated rate. The fair values of the forward currency contract assets and liabilities are determined using observable Level 2 inputs, including foreign currency spot exchange rates, forward pricing curves, and interest rates. The fair values consider the credit risk of the Company and its counterparties. They are presented at their gross fair values. However, the Company's Master International Swap Dealers Association, Inc., Agreements and other similar arrangements allow net settlements under certain conditions. Assets and liabilities measured at fair value on a non-recurring basis In addition to assets and liabilities that are recorded at fair value on a recurring basis, the Company has impaired certain long-lived assets and recorded them at their estimated fair value on a non-recurring basis. The fair value of these long-lived assets was determined using Level 3 inputs, principally the present value of the estimated future cash flows expected from their use and eventual disposition. Please refer to Note 7 of these unaudited interim consolidated financial statements for further details regarding the impairment of long-lived assets as a result of the ivivva restructuring. The Company has also recorded certain lease termination liabilities at fair value on a non-recurring basis, determined using Level 3 inputs based on remaining lease rentals and reduced by estimated sublease income.

RECENT ACCOUNTING PRONOUNCEME21

RECENT ACCOUNTING PRONOUNCEMENTS (Tables)	6 Months Ended
	Jul. 29, 2018
Accounting Policies [Abstract]
Schedule of New Accounting Pronouncements	The effect of adoption of ASC 606 on the Company's consolidated balance sheet as of July 29, 2018 was as follows: July 29, 2018 As Reported Adjustment for ASC 606 Balances Without Adoption of ASC 606 (In thousands) Other prepaid expenses and other current assets $ 51,786 $ (2,751 ) $ 49,035 Current assets 1,308,037 (2,751 ) 1,305,286 Total assets 1,881,157 (2,751 ) 1,878,406 Other current liabilities 95,806 2,751 98,557 Current liabilities 449,161 2,751 451,912 Total liabilities 560,942 2,751 563,693

STOCK-BASED COMPENSATION AND 22

STOCK-BASED COMPENSATION AND BENEFIT PLANS (Tables)	6 Months Ended
	Jul. 29, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Company's Stock Option, Performance Share Unit and Restricted Share Activity	A summary of the Company's stock option, performance-based restricted stock unit, restricted share, and restricted stock unit activity as of July 29, 2018 , and changes during the first two quarters then ended, is presented below: Stock Options Performance-Based Restricted Stock Units Restricted Shares Restricted Stock Units Number Weighted-Average Exercise Price Number Weighted-Average Grant Date Fair Value Number Weighted-Average Grant Date Fair Value Number Weighted-Average Grant Date Fair Value (In thousands, except per share amounts) Balance at January 28, 2018 1,117 $ 56.44 329 $ 60.42 21 $ 52.45 427 $ 57.54 Granted 308 86.99 85 87.19 6 124.19 248 87.18 Exercised/released 245 56.20 39 63.04 21 52.45 145 59.37 Forfeited/expired 277 58.49 127 61.35 — — 40 64.58 Balance at July 29, 2018 903 $ 66.31 248 $ 68.72 6 $ 124.19 490 $ 71.45 Exercisable at July 29, 2018 186 $ 56.47
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The following are weighted averages of the assumptions that were used in calculating the fair value of stock options granted in the first two quarters of fiscal 2018 : Two Quarters Ended Expected term 3.75 years Expected volatility 36.88 % Risk-free interest rate 2.46 % Dividend yield — %

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	6 Months Ended
	Jul. 29, 2018
Fair Value Disclosures [Abstract]
Fair Value, Assets and Liabilities Measured on Recurring Basis	As of July 29, 2018 and January 28, 2018 , the Company held certain assets and liabilities that are required to be measured at fair value on a recurring basis: July 29, 2018 Level 1 Level 2 Level 3 Balance Sheet Classification (In thousands) Money market funds $ 143,478 $ 143,478 $ — $ — Cash and cash equivalents Term deposits 337,818 — 337,818 — Cash and cash equivalents Net forward currency contract assets 3,254 — 3,254 — Other prepaid expenses and other current assets Net forward currency contract liabilities 5,891 — 5,891 — Other current liabilities January 28, 2018 Level 1 Level 2 Level 3 Balance Sheet Classification (In thousands) Term deposits $ 258,238 $ — $ 258,238 $ — Cash and cash equivalents Net forward currency contract assets 7,889 — 7,889 — Other prepaid expenses and other current assets Net forward currency contract liabilities 8,771 — 8,771 — Other current liabilities

DERIVATIVE FINANCIAL INSTRUME24

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jul. 29, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional Amounts	The Company had foreign exchange forward contracts outstanding with the following notional amounts: July 29, 2018 July 30, 2017 (In thousands) Derivatives designated as net investment hedges $ 339,000 $ 78,000 Derivatives not designated in a hedging relationship 321,000 65,000
Schedule of Forward Currency Contracts, Statement of Financial Position	The fair values of forward currency contracts were as follows: July 29, 2018 July 30, 2017 (In thousands) Net forward currency contract assets, recognized within other prepaid expenses and other current assets: Derivatives designated as net investment hedges $ 3,254 $ — Derivatives not designated in a hedging relationship — 5,937 Net forward currency contract liabilities, recognized within other current liabilities: Derivatives designated as net investment hedges — 7,068 Derivatives not designated in a hedging relationship 5,891 —
Schedule of Pre-tax Gains (Losses) on Derivatives in Accumulated Other Comprehensive Income (Loss)	The pre-tax gains and losses on foreign exchange forward contracts recorded in accumulated other comprehensive income are as follows: Quarter Ended Two Quarters Ended July 29, 2018 July 30, 2017 July 29, 2018 July 30, 2017 (In thousands) Gains (losses) recognized in foreign currency translation adjustment: Derivatives designated as net investment hedges $ 5,721 $ (8,925 ) $ 16,538 $ (8,925 )
Schedule of Derivative Gains and Losses	The pre-tax net foreign exchange and derivative gains and losses recorded in the consolidated statement of operations are as follows: Quarter Ended Two Quarters Ended July 29, 2018 July 30, 2017 July 29, 2018 July 30, 2017 (In thousands) Gains (losses) recognized in selling, general and administrative expenses: Foreign exchange gains (losses) $ 2,960 $ (9,303 ) $ 12,605 $ (3,511 ) Derivatives not designated in a hedging relationship (5,539 ) 7,634 (15,587 ) 7,634 Net foreign exchange and derivative (losses) gains $ (2,579 ) $ (1,669 ) $ (2,982 ) $ 4,123

ASSET IMPAIRMENT AND RESTRUCT25

ASSET IMPAIRMENT AND RESTRUCTURING (Tables)	6 Months Ended
	Jul. 29, 2018
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	A summary of the pre-tax charges recognized in connection with the Company's restructuring of its ivivva operations is as follows: Quarter Ended Two Quarters Ended July 29, 2018 July 30, 2017 July 29, 2018 July 30, 2017 (In thousands) Costs recorded in cost of goods sold: Provision to reduce inventories to net realizable value $ — $ 962 $ — $ 2,904 Expected loss on committed inventory purchases — (941 ) — 2,536 Accelerated depreciation — 2,223 — 2,223 — 2,244 — 7,663 Costs recorded in operating expenses: Impairment of property and equipment — — — 11,593 Employee related costs — 2,458 — 3,196 Lease termination and other restructuring costs — 728 — 728 Asset impairment and restructuring costs — 3,186 — 15,517 Restructuring and related costs $ — $ 5,430 $ — $ 23,180

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jul. 29, 2018
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earning Per Share	The details of the computation of basic and diluted earnings per share are as follows: Quarter Ended Two Quarters Ended July 29, 2018 July 30, 2017 July 29, 2018 July 30, 2017 (In thousands, except per share amounts) Net income $ 95,770 $ 48,711 $ 170,923 $ 79,957 Basic weighted-average number of shares outstanding 133,986 136,171 134,744 136,604 Assumed conversion of dilutive stock options and awards 544 132 486 143 Diluted weighted-average number of shares outstanding 134,530 136,303 135,230 136,747 Basic earnings per share $ 0.71 $ 0.36 $ 1.27 $ 0.59 Diluted earnings per share $ 0.71 $ 0.36 $ 1.26 $ 0.58

SUPPLEMENTARY FINANCIAL INFOR27

SUPPLEMENTARY FINANCIAL INFORMATION (Tables)	6 Months Ended
	Jul. 29, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Certain Balance Sheet Accounts	A summary of certain consolidated balance sheet accounts is as follows: July 29, January 28, (In thousands) Inventories: Finished goods $ 411,801 $ 344,695 Provision to reduce inventories to net realizable value (19,129 ) (15,133 ) $ 392,672 $ 329,562 July 29, January 28, (In thousands) Property and equipment, net: Land $ 78,829 $ 83,048 Buildings 38,100 39,278 Leasehold improvements 313,062 301,449 Furniture and fixtures 94,270 91,778 Computer hardware 64,060 61,734 Computer software 181,909 173,997 Equipment and vehicles 14,993 14,806 Work in progress 78,503 51,260 Property and equipment, gross 863,726 817,350 Accumulated depreciation (376,180 ) (343,708 ) $ 487,546 $ 473,642 Goodwill and intangible assets, net: Goodwill $ 25,496 $ 25,496 Changes in foreign currency exchange rates (1,241 ) (890 ) 24,255 24,606 Intangible assets, net — 73 $ 24,255 $ 24,679 Other non-current assets: Security deposits $ 13,869 $ 11,599 Deferred lease assets 8,908 10,458 Other 10,197 9,332 $ 32,974 $ 31,389 Other current liabilities: Accrued duty, freight, and other operating expenses $ 44,808 $ 33,695 Sales tax collected 13,205 11,811 Sales return allowance 8,911 6,293 Accrued rent 6,234 7,074 Forward currency contract liabilities 5,891 8,771 Accrued capital expenditures 4,671 5,714 Lease termination liabilities 3,219 6,427 Other 8,867 6,631 $ 95,806 $ 86,416 Other non-current liabilities: Deferred lease liabilities $ 30,061 $ 27,186 Tenant inducements 30,510 26,250 Other 5,550 5,885 $ 66,121 $ 59,321

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	6 Months Ended
	Jul. 29, 2018
Segment Reporting [Abstract]
Segment Reporting	Quarter Ended Two Quarters Ended July 29, 2018 July 30, 2017 July 29, 2018 July 30, 2017 (In thousands) Net revenue: Company-operated stores $ 486,368 $ 413,944 $ 919,499 $ 793,043 Direct to consumer 167,405 113,049 325,248 210,272 Other 69,727 54,061 128,459 98,046 $ 723,500 $ 581,054 $ 1,373,206 $ 1,101,361 Segmented income from operations: Company-operated stores $ 125,868 $ 92,609 $ 225,155 $ 170,139 Direct to consumer 67,033 38,748 129,300 72,846 Other 13,094 6,952 24,317 9,760 205,995 138,309 378,772 252,745 General corporate expense 71,787 64,167 140,259 115,430 Restructuring and related costs — 5,430 — 23,180 Income from operations 134,208 68,712 238,513 114,135 Other income (expense), net 1,591 812 4,509 1,719 Income before income tax expense $ 135,799 $ 69,524 $ 243,022 $ 115,854 Capital expenditures: Company-operated stores $ 27,765 $ 16,634 $ 47,001 $ 23,802 Direct to consumer 593 6,861 1,314 8,841 Corporate and other 21,335 6,515 35,692 17,246 $ 49,693 $ 30,010 $ 84,007 $ 49,889 Depreciation and amortization: Company-operated stores $ 18,489 $ 15,881 $ 35,571 $ 31,081 Direct to consumer 2,302 4,353 4,901 6,347 Corporate and other 7,865 8,172 14,957 14,141 $ 28,656 $ 28,406 $ 55,429 $ 51,569 The accelerated depreciation related to the restructuring of the ivivva operations is included in corporate and other in the above breakdown of depreciation and amortization. The following table disaggregates the Company's net revenue by geographic area. The economic conditions in these areas could affect the amount and timing of the Company's net revenue and cash flows. Quarter Ended Two Quarters Ended July 29, 2018 July 30, 2017 July 29, 2018 July 30, 2017 (In thousands) United States $ 512,413 $ 413,634 $ 974,683 $ 793,101 Canada 124,278 108,446 236,427 200,092 Outside of North America 86,809 58,974 162,096 108,168 $ 723,500 $ 581,054 $ 1,373,206 $ 1,101,361

NATURE OF OPERATIONS AND BASI29

NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Detail) - store	Jul. 29, 2018	Jan. 28, 2018
Accounting Policies [Abstract]
Number of company-operated stores	415	404

RECENT ACCOUNTING PRONOUNCEME30

RECENT ACCOUNTING PRONOUNCEMENTS (Details) - USD ($) $ in Thousands	Jul. 29, 2018	Jan. 28, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other prepaid expenses and other current assets	$ 51,786	$ 48,098
Current assets	1,308,037	1,436,282
Total assets	1,881,157	1,998,483
Other current liabilities	95,806	86,416
Current liabilities	449,161	292,598
Total liabilities	560,942	$ 401,523
Adjustment for ASC 606 | Accounting Standards Update 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other prepaid expenses and other current assets	(2,751)
Current assets	(2,751)
Total assets	(2,751)
Other current liabilities	2,751
Current liabilities	2,751
Total liabilities	2,751
Balances Without Adoption of ASC 606
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other prepaid expenses and other current assets	49,035
Current assets	1,305,286
Total assets	1,878,406
Other current liabilities	98,557
Current liabilities	451,912
Total liabilities	$ 563,693

CREDIT FACILITY (Details)

CREDIT FACILITY (Details) - Line of Credit - USD ($)	3 Months Ended	6 Months Ended
	Apr. 29, 2018	Jul. 29, 2018	Jun. 06, 2018
Revolving Credit Facility
Line of Credit Facility [Line Items]
Debt Instrument, Term		5 years
Maximum borrowing capacity		$ 600,000,000	$ 400,000,000
Long-term line of credit		$ 100,000,000
Weighted average interest rate		3.32%
Letter of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity			50,000,000
Long-term line of credit		$ 1,300,000
Swing Line Loan
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 50,000,000
Minimum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Commitment fee percentage	0.125%	0.10%
Minimum | Letter of Credit
Line of Credit Facility [Line Items]
Commitment fee percentage	1.00%	1.00%
Maximum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Commitment fee percentage	0.20%	0.20%
Maximum | Letter of Credit
Line of Credit Facility [Line Items]
Commitment fee percentage	1.75%	1.50%
LIBOR | Minimum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%	1.00%
LIBOR | Maximum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.75%	1.50%
Base Rate | Minimum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.00%	0.00%
Base Rate | Maximum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.75%	0.50%

STOCK-BASED COMPENSATION AND 32

STOCK-BASED COMPENSATION AND BENEFIT PLANS - Additional Information (Detail) $ in Millions	3 Months Ended	6 Months Ended
	Jul. 29, 2018USD ($)shares	Jul. 29, 2018USD ($)shares	Jul. 30, 2017USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 13	$ 8.7
Total unrecognized compensation cost	$ 59.2	$ 59.2
Expected weighted-average period of compensation cost		2 years 3 months 18 days
Common stock per performance share unit (shares)	2	2
Company match contribution		33.33%
Vesting period		2 years
Company contributions		$ 3.1	$ 2.7
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Participant contribution, company match percent		50.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Participant contribution, company match percent		75.00%
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum shares available under ESPP (shares) | shares	6,000,000	6,000,000
Shares purchased under ESPP (shares) | shares	23,800

STOCK-BASED COMPENSATION AND 33

STOCK-BASED COMPENSATION AND BENEFIT PLANS - Summary of Company's Stock Option, Performance Share Unit and Restricted Share Activity (Detail) shares in Thousands	6 Months Ended
	Jul. 29, 2018$ / sharesshares
Stock Options
Number of Stock Options
Number of Stock Options, Beginning Balance (in shares) | shares	1,117
Number of Stock Options, Granted (in shares) | shares	308
Number of Stock Options, Exercised/released (in shares) | shares	245
Number of Stock Options, Forfeited/expired (in shares) | shares	277
Number of Stock Options, Ending Balance (in shares) | shares	903
Number of Stock Options, Exercisable at End of Period (in shares) | shares	186
Weighted-Average Exercise Price of Stock Options
Weighted-Average Exercise Price, Options, Beginning Balance (in dollars per share) | $ / shares	$ 56.44
Weighted-Average Exercise Price, Options, Granted (in dollars per share) | $ / shares	86.99
Weighted-Average Exercise Price, Options, Exercised/released (in dollars per share) | $ / shares	56.20
Weighted-Average Exercise Price, Options, Forfeited/expired (in dollars per share) | $ / shares	58.49
Weighted-Average Exercise Price, Options, Ending Balance (in dollars per share) | $ / shares	66.31
Weighted-Average Exercise Price, Options, Exercisable (in dollars per share) | $ / shares	$ 56.47
Performance-Based Restricted Stock Units
Number of Performance-Based Restricted Stock Units and Restricted Shares
Number of Units/Shares, Beginning Balance (in shares) | shares	329
Number of Units/Shares, Granted (in shares) | shares	85
Number of Units/Shares, Exercised/released (in shares) | shares	39
Number of Units/Shares, Forfeited/expired (in shares) | shares	127
Number of Units/Shares, Ending Balance (in shares) | shares	248
Weighted-Average Grant Date Fair Value
Weighted-Average Grant Date Fair Value, Beginning Balance (in dollars per share) | $ / shares	$ 60.42
Weighted-Average Grant Date Fair Value, Granted (in dollars per share) | $ / shares	87.19
Weighted-Average Grant Date Fair Value, Exercised/released (in dollars per share) | $ / shares	63.04
Weighted-Average Grant Date Fair Value, Forfeited/expired (in dollars per share) | $ / shares	61.35
Weighted-Average Grant Date Fair Value, Ending Balance (in dollars per share) | $ / shares	$ 68.72
Restricted Shares
Number of Performance-Based Restricted Stock Units and Restricted Shares
Number of Units/Shares, Beginning Balance (in shares) | shares	21
Number of Units/Shares, Granted (in shares) | shares	6
Number of Units/Shares, Exercised/released (in shares) | shares	21
Number of Units/Shares, Forfeited/expired (in shares) | shares	0
Number of Units/Shares, Ending Balance (in shares) | shares	6
Weighted-Average Grant Date Fair Value
Weighted-Average Grant Date Fair Value, Beginning Balance (in dollars per share) | $ / shares	$ 52.45
Weighted-Average Grant Date Fair Value, Granted (in dollars per share) | $ / shares	124.19
Weighted-Average Grant Date Fair Value, Exercised/released (in dollars per share) | $ / shares	52.45
Weighted-Average Grant Date Fair Value, Forfeited/expired (in dollars per share) | $ / shares	0
Weighted-Average Grant Date Fair Value, Ending Balance (in dollars per share) | $ / shares	$ 124.19
Restricted Stock Units
Number of Performance-Based Restricted Stock Units and Restricted Shares
Number of Units/Shares, Beginning Balance (in shares) | shares	427
Number of Units/Shares, Granted (in shares) | shares	248
Number of Units/Shares, Exercised/released (in shares) | shares	145
Number of Units/Shares, Forfeited/expired (in shares) | shares	40
Number of Units/Shares, Ending Balance (in shares) | shares	490
Weighted-Average Grant Date Fair Value
Weighted-Average Grant Date Fair Value, Beginning Balance (in dollars per share) | $ / shares	$ 57.54
Weighted-Average Grant Date Fair Value, Granted (in dollars per share) | $ / shares	87.18
Weighted-Average Grant Date Fair Value, Exercised/released (in dollars per share) | $ / shares	59.37
Weighted-Average Grant Date Fair Value, Forfeited/expired (in dollars per share) | $ / shares	64.58
Weighted-Average Grant Date Fair Value, Ending Balance (in dollars per share) | $ / shares	$ 71.45

STOCK-BASED COMPENSATION AND 34

STOCK-BASED COMPENSATION AND BENEFIT PLANS - Fair Value Assumptions (Detail)	6 Months Ended
	Jul. 29, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Expected term	3 years 9 months
Expected volatility	36.88%
Risk-free interest rate	2.46%
Dividend yield	0.00%

FAIR VALUE MEASUREMENT (Details

FAIR VALUE MEASUREMENT (Details) - USD ($) $ in Thousands	Jul. 29, 2018	Jan. 28, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Lease termination liabilities	$ 3,219	$ 6,427
Cash and cash equivalents | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, fair value disclosure	143,478
Cash and cash equivalents | Money market funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, fair value disclosure	143,478
Cash and cash equivalents | Money market funds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, fair value disclosure	0
Cash and cash equivalents | Money market funds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, fair value disclosure	0
Cash and cash equivalents | Term deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, fair value disclosure	337,818	258,238
Cash and cash equivalents | Term deposits | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, fair value disclosure	0	0
Cash and cash equivalents | Term deposits | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, fair value disclosure	337,818	258,238
Cash and cash equivalents | Term deposits | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, fair value disclosure	0	0
Other prepaid expenses and other current assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net forward currency contract assets	3,254	7,889
Other prepaid expenses and other current assets | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net forward currency contract assets	0	0
Other prepaid expenses and other current assets | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net forward currency contract assets	3,254	7,889
Other prepaid expenses and other current assets | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net forward currency contract assets	0	0
Other current liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net forward currency contract liabilities	5,891	8,771
Other current liabilities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net forward currency contract liabilities	0	0
Other current liabilities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net forward currency contract liabilities	5,891	8,771
Other current liabilities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net forward currency contract liabilities	$ 0	$ 0

DERIVATIVE FINANCIAL INSTRUME36

DERIVATIVE FINANCIAL INSTRUMENTS - Outstanding Notional Amounts (Details) - Foreign Exchange Forward - USD ($) $ in Thousands	Jul. 29, 2018	Jul. 30, 2017
Designated as Hedging Instrument
Derivative [Line Items]
Notional amounts	$ 339,000	$ 78,000
Not Designated as Hedging Instrument
Derivative [Line Items]
Notional amounts	$ 321,000	$ 65,000

DERIVATIVE FINANCIAL INSTRUME37

DERIVATIVE FINANCIAL INSTRUMENTS - Quantitative Disclosures about Derivative Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 29, 2018	Jul. 30, 2017	Jul. 29, 2018	Jul. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative assets subject to enforceable netting arrangements	$ 3,300		$ 3,300
Derivative liabilities subject to enforceable netting arrangements	5,900		5,900
Foreign Exchange Forward
Gains (losses) recognized in selling, general and administrative expenses:
Net foreign exchange and derivative (losses) gains	(2,579)	$ (1,669)	(2,982)	$ 4,123
Foreign Exchange Forward | Designated as Hedging Instrument
Gains (losses) recognized in foreign currency translation adjustment:
Derivatives designated as net investment hedges	5,721	(8,925)	16,538	(8,925)
Gains (losses) recognized in selling, general and administrative expenses:
Net foreign exchange and derivative (losses) gains	2,960	(9,303)	12,605	(3,511)
Foreign Exchange Forward | Designated as Hedging Instrument | Other prepaid expenses and other current assets
Net forward currency contract assets, recognized within other prepaid expenses and other current assets:
Derivatives designated as net investment hedges	3,254	0	3,254	0
Foreign Exchange Forward | Designated as Hedging Instrument | Other current liabilities
Net forward currency contract liabilities, recognized within other current liabilities:
Derivatives not designated in a hedging relationship	0	7,068	0	7,068
Foreign Exchange Forward | Not Designated as Hedging Instrument
Gains (losses) recognized in selling, general and administrative expenses:
Net foreign exchange and derivative (losses) gains	(5,539)	7,634	(15,587)	7,634
Foreign Exchange Forward | Not Designated as Hedging Instrument | Other prepaid expenses and other current assets
Net forward currency contract assets, recognized within other prepaid expenses and other current assets:
Derivatives designated as net investment hedges	0	5,937	0	5,937
Foreign Exchange Forward | Not Designated as Hedging Instrument | Other current liabilities
Net forward currency contract liabilities, recognized within other current liabilities:
Derivatives not designated in a hedging relationship	$ 5,891	$ 0	$ 5,891	$ 0

ASSET IMPAIRMENT AND RESTRUCT38

ASSET IMPAIRMENT AND RESTRUCTURING - Additional Information (Details) $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Jul. 29, 2018USD ($)store	Jul. 30, 2017USD ($)	Apr. 30, 2017USD ($)	Jul. 29, 2018USD ($)store	Jul. 30, 2017USD ($)	Jan. 28, 2018USD ($)store	Aug. 20, 2017store
Restructuring Cost and Reserve [Line Items]
Number of stores | store	415			415		404
Restructuring and related costs	$ 0	$ 5,430		$ 0	$ 23,180
Income tax expense (recovery)	40,029	20,813		72,099	35,897
Asset impairment and restructuring costs	0	3,186		0	15,517
Asset impairment for ivivva restructuring				0	11,593
ivivva | Facility closing
Restructuring Cost and Reserve [Line Items]
Number of stores expected to close | store							48
Number of stores | store							55
Restructuring and related costs						$ 47,200
Restructuring and related costs and asset impairment	0	5,430		0	23,180
Income tax expense (recovery)		(1,400)			(6,100)
Restructuring costs recorded in cost of goods sold	0	2,244		0	7,663
Provision for inventories	0	962		0	2,904
Expected loss on committed inventory purchases	0	(941)		0	2,536
Accelerated depreciation	0	2,223		0	2,223
Asset impairment and restructuring costs	0	3,186		0	15,517
Asset impairment for ivivva restructuring	0	0	$ 11,600	0	11,593
Employee related costs	0	2,458		0	3,196
Lease termination and other restructuring costs	$ 0	$ 728		$ 0	$ 728

ASSET IMPAIRMENT AND RESTRUCT39

ASSET IMPAIRMENT AND RESTRUCTURING - Schedule of Restructuring Charges (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jul. 29, 2018	Jul. 30, 2017	Apr. 30, 2017	Jul. 29, 2018	Jul. 30, 2017
Costs recorded in operating expenses:
Impairment of property and equipment				$ 0	$ 11,593
Asset impairment and restructuring costs	$ 0	$ 3,186		0	15,517
ivivva | Facility closing
Costs recorded in cost of goods sold:
Provision to reduce inventories to net realizable value	0	962		0	2,904
Expected loss on committed inventory purchases	0	(941)		0	2,536
Accelerated depreciation	0	2,223		0	2,223
Restructuring costs recorded in cost of goods sold	0	2,244		0	7,663
Costs recorded in operating expenses:
Impairment of property and equipment	0	0	$ 11,600	0	11,593
Employee related costs	0	2,458		0	3,196
Lease termination and other restructuring costs	0	728		0	728
Asset impairment and restructuring costs	0	3,186		0	15,517
Restructuring and related costs	$ 0	$ 5,430		$ 0	$ 23,180

EARNINGS PER SHARE - Computatio

EARNINGS PER SHARE - Computation of Basic and Diluted Earning Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 29, 2018	Jul. 30, 2017	Jul. 29, 2018	Jul. 30, 2017
Earnings Per Share [Abstract]
Net income	$ 95,770	$ 48,711	$ 170,923	$ 79,957
Basic weighted-average number of shares outstanding (in shares)	133,986	136,171	134,744	136,604
Assumed conversion of dilutive stock options and awards (in shares)	544	132	486	143
Diluted weighted-average number of shares outstanding (in shares)	134,530	136,303	135,230	136,747
Basic earnings per share (in dollars per share)	$ 0.71	$ 0.36	$ 1.27	$ 0.59
Diluted earnings per share (in dollars per share)	$ 0.71	$ 0.36	$ 1.26	$ 0.58

EARNINGS PER SHARE - Additional

EARNINGS PER SHARE - Additional Information (Detail) - USD ($)	1 Months Ended	6 Months Ended
	Aug. 27, 2018	Jul. 29, 2018	Jul. 30, 2017	Jun. 06, 2018	Nov. 29, 2017	Dec. 01, 2016
Subsequent Event [Line Items]
Repurchase of common stock (in shares)		3,400,000	1,700,000
Repurchase of common stock		$ 406,245,700	$ 90,800,000
Anti-dilutive stock options (in shares)		48,500	200,000
Aggregate amount authorized for stock repurchase				$ 600,000,000	$ 200,000,000	$ 100,000,000
Remaining authorized repurchase amount		$ 192,800,000
Subsequent Event
Subsequent Event [Line Items]
Repurchase of common stock (in shares)	63,118
Repurchase of common stock	$ 7,900,000

SUPPLEMENTARY FINANCIAL INFOR42

SUPPLEMENTARY FINANCIAL INFORMATION - Summary of Certain Balance Sheet Accounts (Detail) - USD ($) $ in Thousands	Jul. 29, 2018	Jan. 28, 2018
Inventories:
Finished goods	$ 411,801	$ 344,695
Provision to reduce inventories to net realizable value	(19,129)	(15,133)
Total inventories	392,672	329,562
Property and equipment, net:
Land	78,829	83,048
Buildings	38,100	39,278
Leasehold improvements	313,062	301,449
Furniture and fixtures	94,270	91,778
Computer hardware	64,060	61,734
Computer software	181,909	173,997
Equipment and vehicles	14,993	14,806
Work in progress	78,503	51,260
Property and equipment, gross	863,726	817,350
Accumulated depreciation	(376,180)	(343,708)
Total property and equipment	487,546	473,642
Goodwill and intangible assets, net:
Goodwill	25,496	25,496
Changes in foreign currency exchange rates	(1,241)	(890)
Goodwill, net	24,255	24,606
Intangible assets, net	0	73
Goodwill and intangible assets, net	24,255	24,679
Other non-current assets:
Security deposits	13,869	11,599
Deferred lease assets	8,908	10,458
Other	10,197	9,332
Total other non-current assets	32,974	31,389
Other current liabilities:
Accrued duty, freight, and other operating expenses	44,808	33,695
Sales tax collected	13,205	11,811
Sales return allowance	8,911	6,293
Accrued rent	6,234	7,074
Forward currency contract liabilities	5,891	8,771
Accrued capital expenditures	4,671	5,714
Lease termination liabilities	3,219	6,427
Other	8,867	6,631
Total other current liabilities	95,806	86,416
Other non-current liabilities:
Deferred lease liabilities	30,061	27,186
Tenant inducements	30,510	26,250
Other	5,550	5,885
Other non-current liabilities	$ 66,121	$ 59,321

SEGMENT REPORTING (Detail)

SEGMENT REPORTING (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 29, 2018	Jul. 30, 2017	Jul. 29, 2018	Jul. 30, 2017
Net revenue:
Net revenue	$ 723,500	$ 581,054	$ 1,373,206	$ 1,101,361
Segmented income from operations:
Segmented income from operations	205,995	138,309	378,772	252,745
General corporate expense	71,787	64,167	140,259	115,430
Restructuring and related costs	0	5,430	0	23,180
Income from operations	134,208	68,712	238,513	114,135
Other income (expense), net	1,591	812	4,509	1,719
Income before income tax expense	135,799	69,524	243,022	115,854
Capital expenditures:
Capital expenditures	49,693	30,010	84,007	49,889
Depreciation and amortization:
Depreciation and amortization	28,656	28,406	55,429	51,569
United States
Net revenue:
Net revenue	512,413	413,634	974,683	793,101
Canada
Net revenue:
Net revenue	124,278	108,446	236,427	200,092
Outside of North America
Net revenue:
Net revenue	86,809	58,974	162,096	108,168
Company-operated stores
Net revenue:
Net revenue	486,368	413,944	919,499	793,043
Segmented income from operations:
Segmented income from operations	125,868	92,609	225,155	170,139
Direct to consumer
Net revenue:
Net revenue	167,405	113,049	325,248	210,272
Segmented income from operations:
Segmented income from operations	67,033	38,748	129,300	72,846
Other
Net revenue:
Net revenue	69,727	54,061	128,459	98,046
Segmented income from operations:
Segmented income from operations	13,094	6,952	24,317	9,760
Operating segments | Company-operated stores
Capital expenditures:
Capital expenditures	27,765	16,634	47,001	23,802
Depreciation and amortization:
Depreciation and amortization	18,489	15,881	35,571	31,081
Operating segments | Direct to consumer
Capital expenditures:
Capital expenditures	593	6,861	1,314	8,841
Depreciation and amortization:
Depreciation and amortization	2,302	4,353	4,901	6,347
Corporate and other
Capital expenditures:
Capital expenditures	21,335	6,515	35,692	17,246
Depreciation and amortization:
Depreciation and amortization	$ 7,865	$ 8,172	$ 14,957	$ 14,141

LEGAL PROCEEDINGS (Details)

LEGAL PROCEEDINGS (Details) $ in Millions	Jul. 29, 2018USD ($)
Commitments and Contingencies Disclosure [Abstract]
Loss contingency	$ 3

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) $ in Millions	Aug. 13, 2018USD ($)
Secured Debt | Revolving Credit Facility | Subsequent Event
Subsequent Event [Line Items]
Repayments on revolving credit facility	$ 100