Lululemon Athletica (LULU) 10-Q 5 Sep 19 2019 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Aug. 04, 2019	Aug. 30, 2019
Cover page.
Entity Incorporation, State or Country Code	DE
Title of 12(b) Security	Common Stock, par value $0.005 per share
Document Transition Report	false
Document Quarterly Report	true
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Aug. 4, 2019
Entity File Number	001-33608
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Trading Symbol	LULU
Entity Registrant Name	lululemon athletica inc.
Entity Central Index Key	0001397187
Current Fiscal Year End Date	--02-02
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		123,140,731
Security Exchange Name	NASDAQ
Entity Address, Address Line One	1818 Cornwall Avenue
Entity Address, City or Town	Vancouver
Entity Address, State or Province	BC
Entity Address, Postal Zip Code	V6J 1C7
City Area Code	604
Local Phone Number	732-6124
Entity Tax Identification Number	20-3842867

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Aug. 04, 2019	Feb. 03, 2019
Current assets
Cash and cash equivalents	$ 623,738	$ 881,320
Accounts receivable	27,659	35,786
Inventories	494,294	404,842
Prepaid and receivable income taxes	112,572	49,385
Other prepaid expenses and other current assets	74,750	57,949
Total current assets	1,333,013	1,429,282
Property and equipment, net	617,090	567,237
Right-of-use lease assets	657,044	0
Goodwill	24,184	24,239
Deferred income tax assets	26,296	26,549
Other non-current assets	37,117	37,404
Total assets	2,694,744	2,084,711
Current liabilities
Accounts payable	110,513	95,533
Accrued inventory liabilities	8,778	16,241
Accrued compensation and related expenses	100,735	109,181
Current lease liabilities	130,182	0
Current income taxes payable	5,090	67,412
Unredeemed gift card liability	79,629	99,412
Other current liabilities	117,682	112,698
Total current liabilities	552,609	500,477
Non-current lease liabilities	568,311	0
Non-current income taxes payable	48,226	42,099
Deferred income tax liabilities	14,114	14,249
Other non-current liabilities	4,105	81,911
Total liabilities	1,187,365	638,736
Commitments and contingencies
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; 7,381 and 9,332 issued and outstanding	0	0
Special voting stock, $0.000005 par value: 60,000 shares authorized; 7,381 and 9,332 issued and outstanding	0	0
Common stock, $0.005 par value: 400,000 shares authorized; 122,921 and 121,600 issued and outstanding	615	608
Additional paid-in capital	329,915	315,285
Retained earnings	1,404,866	1,346,890
Accumulated other comprehensive loss	(228,017)	(216,808)
Total stockholders' equity	1,507,379	1,445,975
Total liabilities and stockholders' equity	$ 2,694,744	$ 2,084,711

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Aug. 04, 2019	Feb. 03, 2019
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)	7,381,000	9,332,000
Exchangeable stock, shares outstanding (in shares)	7,381,000	9,332,000
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)	7,381,000	9,332,000
Special voting stock, shares outstanding (in shares)	7,381,000	9,332,000
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)	122,921,000	121,600,000
Common stock, shares outstanding (in shares)	122,921,000	121,600,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 04, 2019	Jul. 29, 2018	Aug. 04, 2019	Jul. 29, 2018
Income Statement [Abstract]
Net revenue	$ 883,352	$ 723,500	$ 1,665,667	$ 1,373,206
Cost of goods sold	397,556	327,306	758,151	632,279
Gross profit	485,796	396,194	907,516	740,927
Selling, general and administrative expenses	317,814	261,986	610,722	502,414
Income from operations	167,982	134,208	296,794	238,513
Other income (expense), net	1,850	1,591	4,229	4,509
Income before income tax expense	169,832	135,799	301,023	243,022
Income tax expense	44,842	40,029	79,430	72,099
Net income	124,990	95,770	221,593	170,923
Other comprehensive income (loss):
Foreign currency translation adjustment	4,514	(18,249)	(11,209)	(61,221)
Comprehensive income	$ 129,504	$ 77,521	$ 210,384	$ 109,702
Basic earnings per share (in dollars per share)	$ 0.96	$ 0.71	$ 1.70	$ 1.27
Diluted earnings per share (in dollars per share)	$ 0.96	$ 0.71	$ 1.69	$ 1.26
Basic weighted-average number of shares outstanding (in shares)	130,285	133,986	130,489	134,744
Diluted weighted-average number of shares outstanding (in shares)	130,783	134,530	131,060	135,230

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ 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		$ 0	$ 628	$ 284,253	$ 1,455,002	$ (142,923)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	170,923					170,923
Foreign currency translation adjustment	(61,221)						(61,221)
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				13,048
Common stock issued upon settlement of stock-based compensation (in shares)				437
Common stock issued upon settlement of stock-based compensation	13,752			$ 2	13,750
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)				(7,001)
Repurchase of common stock (in shares)	(3,400)			(3,355)
Repurchase of common stock	$ (406,246)			$ (17)	(4,348)	(401,881)
Ending balance (in shares) at Jul. 29, 2018		9,776	9,776	122,656
Ending balance at Jul. 29, 2018	1,320,215		$ 0	$ 613	299,702	1,224,044	(204,144)
Beginning balance (in shares) at Apr. 29, 2018		9,776	9,776	125,911
Beginning balance at Apr. 29, 2018	1,636,234		$ 0	$ 630	291,352	1,530,147	(185,895)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	95,770					95,770
Foreign currency translation adjustment	(18,249)						(18,249)
Stock-based compensation expense	7,855				7,855
Common stock issued upon settlement of stock-based compensation (in shares)				104
Common stock issued upon settlement of stock-based compensation	5,344				5,344
Shares withheld related to net share settlement of stock-based compensation (in shares)				(4)
Shares withheld related to net share settlement of stock-based compensation	(501)				(501)
Repurchase of common stock (in shares)				(3,355)
Repurchase of common stock	(406,238)			$ (17)	(4,348)	(401,873)
Ending balance (in shares) at Jul. 29, 2018		9,776	9,776	122,656
Ending balance at Jul. 29, 2018	1,320,215		$ 0	$ 613	299,702	1,224,044	(204,144)
Beginning balance (in shares) at Feb. 03, 2019		9,332	9,332	121,600
Beginning balance at Feb. 03, 2019	1,445,975		$ 0	$ 608	315,285	1,346,890	(216,808)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	221,593					221,593
Foreign currency translation adjustment	(11,209)						(11,209)
Common stock issued upon exchange of exchangeable shares (in shares)		(1,951)	(1,951)	1,951
Common stock issued upon exchange of exchangeable shares	0			$ 10	(10)
Stock-based compensation expense	22,005				22,005
Common stock issued upon settlement of stock-based compensation (in shares)				497
Common stock issued upon settlement of stock-based compensation	13,514			$ 3	13,511
Shares withheld related to net share settlement of stock-based compensation (in shares)				(117)
Shares withheld related to net share settlement of stock-based compensation	$ (19,400)			$ (1)	(19,399)
Repurchase of common stock (in shares)	(1,000)			(1,010)
Repurchase of common stock	$ (165,099)			$ (5)	(1,477)	(163,617)
Ending balance (in shares) at Aug. 04, 2019		7,381	7,381	122,921
Ending balance at Aug. 04, 2019	1,507,379		$ 0	$ 615	329,915	1,404,866	(228,017)
Beginning balance (in shares) at May. 05, 2019		7,381	7,381	122,900
Beginning balance at May. 05, 2019	1,366,720		$ 0	$ 615	317,204	1,281,432	(232,531)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	124,990					124,990
Foreign currency translation adjustment	4,514						4,514
Stock-based compensation expense	11,848				11,848
Common stock issued upon settlement of stock-based compensation (in shares)				33
Common stock issued upon settlement of stock-based compensation	1,337				1,336
Shares withheld related to net share settlement of stock-based compensation (in shares)				(2)
Shares withheld related to net share settlement of stock-based compensation	(461)				(461)
Repurchase of common stock (in shares)				(10)
Repurchase of common stock	(1,569)				(12)	(1,556)
Ending balance (in shares) at Aug. 04, 2019		7,381	7,381	122,921
Ending balance at Aug. 04, 2019	$ 1,507,379		$ 0	$ 615	$ 329,915	$ 1,404,866	$ (228,017)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Aug. 04, 2019	Jul. 29, 2018
Cash flows from operating activities
Net income	$ 221,593	$ 170,923
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	70,422	55,429
Stock-based compensation expense	22,005	13,048
Settlement of derivatives not designated in a hedging relationship	(5,430)	(1,807)
Changes in operating assets and liabilities:
Inventories	(93,358)	(73,065)
Prepaid and receivable income taxes	(63,187)	(13,255)
Other prepaid expenses and other current and non-current assets	(45,539)	(5,506)
Accounts payable	15,791	86,885
Accrued inventory liabilities	(7,069)	615
Accrued compensation and related expenses	(7,486)	(4,926)
Current income taxes payable	(61,635)	(11,828)
Unredeemed gift card liability	(19,413)	(17,043)
Non-current income taxes payable	6,127	(4,190)
Right-of-use lease assets and current and non-current lease liabilities	9,625	0
Other current and non-current liabilities	7,596	14,746
Net cash provided by operating activities	50,042	210,026
Cash flows from investing activities
Purchase of property and equipment	(135,764)	(84,007)
Settlement (Payment) of net investment hedges	5,062
Settlement (Payment) of net investment hedges		(4,514)
Other investing activities	(1,267)	(771)
Net cash used in investing activities	(131,969)	(89,292)
Cash flows from financing activities
Proceeds from settlement of stock-based compensation	13,514	13,752
Taxes paid related to net share settlement of stock-based compensation	(19,400)	(7,001)
Repurchase of common stock	(165,099)	(406,246)
Net increase in revolving credit facility	0	100,000
Other financing activities	0	(744)
Net cash used in financing activities	(170,985)	(300,239)
Effect of exchange rate changes on cash and cash equivalents	(4,670)	(33,155)
Decrease in cash and cash equivalents	(257,582)	(212,660)
Cash and cash equivalents, beginning of period	881,320	990,501
Cash and cash equivalents, end of period	$ 623,738	$ 777,841

NATURE OF OPERATIONS AND BASIS

NATURE OF OPERATIONS AND BASIS OF PRESENTATION	6 Months Ended
	Aug. 04, 2019
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 and accessories. 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, license and supply arrangements, and warehouse sales. The Company operates stores in the United States, Canada, Australia, China, the United Kingdom, New Zealand, Japan, Germany, South Korea, Singapore, France, Ireland, the Netherlands, Sweden, and Switzerland. There were 460 and 440 company-operated stores in operation as of August 4, 2019 and February 3, 2019 , respectively. Basis of presentation The unaudited interim consolidated financial statements as of August 4, 2019 and for the quarters and two quarters ended August 4, 2019 and July 29, 2018 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 February 3, 2019 is derived from the Company's audited consolidated financial statements and related notes for the fiscal year ended February 3, 2019 , which are included in Item 8 in the Company's fiscal 2018 Annual Report on Form 10-K filed with the SEC on March 27, 2019 . 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 2018 Annual Report on Form 10-K. Except as disclosed in Note 2 of these unaudited interim consolidated financial statements pertaining to the adoption of new accounting pronouncements, there have been no significant changes to the Company's significant accounting policies as described in the Company's fiscal 2018 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 2019 will end on February 2, 2020 and will be a 52-week year. Fiscal 2018 was a 53-week year. In accordance with the Disclosure Modernization and Simplification final rule issued by the SEC and effective for the Company beginning with the quarter ended May 5, 2019, a reconciliation of the changes of stockholders' equity is presented for all periods for which the results of operations are presented. 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.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Aug. 04, 2019
Accounting Policies [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS Recently adopted 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. The Company adopted ASC 842 on February 4, 2019 using the modified retrospective approach and has elected not to restate comparative periods. The Company has chosen 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 did not elect the practical expedient to use hindsight when determining the lease term. The primary financial statement impact upon adoption was the recognition, on a discounted basis, of the Company's minimum payments under noncancelable operating leases as right-of-use assets and obligations on the consolidated balance sheets. As of February 4, 2019, right-of-use assets and lease liabilities were $619.6 million and $651.1 million , respectively. Pre-existing lease balances of $34.8 million from current assets, $9.3 million from non-current assets, and $75.5 million from non-current liabilities were reclassified to right-of-use assets and lease liabilities as part of the adoption of the new standard. There was no cumulative earnings effect adjustment on transition. 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 makes more financial and non-financial hedging strategies eligible for hedge accounting. It also amends the presentation and disclosure requirements and changes how companies assess effectiveness. The Company adopted this guidance in the first quarter of fiscal 2019, and it did not have a material impact on the Company's consolidated financial statements. In August 2018, the FASB clarified ASC 350-40, Intangibles - Goodwill and Other - Internal-Use Software , for certain aspects of accounting for implementation costs incurred in a cloud computing arrangement that is a service contract. Under the update, an entity expenses costs incurred in the preliminary-project and post-implementation-operation stages. An entity also capitalizes certain costs incurred during the application-development stage, as well as certain costs related to enhancements. The ASU does not change the accounting for the service component of a cloud computing arrangement. This standard is effective beginning in the first quarter of 2020, with early adoption permitted. The Company adopted this guidance in the first quarter of fiscal 2019, and it did not have a material impact on the Company's consolidated financial statements. Accounting policies as a result of the adoption of ASC 842 Operating leases At lease commencement, which is generally when the Company takes possession of the asset, the Company records a lease liability and corresponding right-of-use asset. Lease liabilities represent the present value of minimum lease payments over the expected lease term, which includes options to extend or terminate the lease when it is reasonably certain those options will be exercised. The present value of the lease liability is determined using the Company’s incremental collateralized borrowing rate at the lease commencement. Minimum lease payments include base rent, fixed escalation of rental payments, and rental payments that are adjusted periodically depending on a rate or index. In determining minimum lease payments, the Company does not separate non-lease components for real estate leases. Non-lease components are generally services that the lessor performs for the Company associated with the leased asset, such as common area maintenance. Right-of-use assets represent the right to control the use of the leased asset during the lease and are initially recognized in an amount equal to the lease liability. In addition, prepaid rent, initial direct costs, and adjustments for lease incentives are components of the right-of-use asset. Over the lease term the lease expense is amortized on a straight-line basis beginning on the lease commencement date. Right-of-use assets are assessed for impairment as part of the impairment of long-lived assets, which is performed whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. Variable lease payments, including contingent rental payments based on sales volume, are recognized when the achievement of the specific target is probable. A right-of-use asset and lease liability are not recognized for leases with an initial term of 12 months or less, and the lease expense is recognized on a straight-line basis over the lease term.

CREDIT FACILITY

CREDIT FACILITY	6 Months Ended
	Aug. 04, 2019
Debt Disclosure [Abstract]
CREDIT FACILITY	CREDIT FACILITY On June 6, 2018, the Company entered into Amendment No. 1 to its credit agreement. This amended 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 decreased 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% , reduced the commitment fee on average daily unused amounts under the revolving facility from 0.125% - 0.200% to 0.10% - 0.20% , and reduced fees for unused letters of credit from 1.00% - 1.75% to 1.00% - 1.50% . The Company had no borrowings outstanding under this credit facility as of August 4, 2019 and February 3, 2019 . As of August 4, 2019 , the Company had letters of credit of $1.8 million

STOCK-BASED COMPENSATION AND BE

STOCK-BASED COMPENSATION AND BENEFIT PLANS	6 Months Ended
	Aug. 04, 2019
Share-based Payment Arrangement [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 $23.5 million and $13.0 million for the two quarters ended August 4, 2019 and July 29, 2018 , respectively. Total unrecognized compensation cost for all stock-based compensation plans was $82.4 million at August 4, 2019 , which is expected to be recognized over a weighted-average period of 2.3 years . A summary of the balances of the Company's stock-based compensation plans as of August 4, 2019 , and changes during the first two quarters then ended, is presented below: Stock Options Performance-Based Restricted Stock Units Restricted Shares Restricted Stock Units Restricted Stock Units (Liability Accounting) 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 Number Weighted-Average Fair Value (In thousands, except per share amounts) Balance at February 3, 2019 870 $ 73.34 280 $ 78.01 6 $ 124.19 440 $ 73.73 44 $ 146.12 Granted 322 167.77 93 142.29 7 175.82 119 167.97 — — Exercised/released 221 61.12 97 72.04 6 124.19 173 70.17 — — Forfeited/expired 50 87.90 15 94.30 — — 23 93.73 — — Balance at August 4, 2019 921 $ 108.50 261 $ 102.23 7 $ 175.82 363 $ 105.04 44 $ 178.93 Exercisable at August 4, 2019 133 $ 64.66 The grant date 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 during the first two quarters of fiscal 2019 : Two Quarters Ended Expected term 3.75 years Expected volatility 38.43 % Risk-free interest rate 2.19 % 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 grant date 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. Restricted stock units that are settled in cash or common stock at the election of the employee are remeasured to fair value at the end of each reporting period until settlement. This fair value is based on the closing price of the Company's common stock on the last business day before each period end. 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 August 4, 2019 , there were 18.5 thousand shares purchased. Defined contribution pension plans The Company offers defined contribution pension plans to its eligible employees. 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 $4.3 million and $3.1 million in the first two quarters of fiscal 2019 and fiscal 2018 , respectively.

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	6 Months Ended
	Aug. 04, 2019
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 August 4, 2019 and February 3, 2019 , the Company held certain assets and liabilities that are required to be measured at fair value on a recurring basis: August 4, 2019 Level 1 Level 2 Level 3 Balance Sheet Classification (In thousands) Money market funds $ 347,590 $ 347,590 $ — $ — Cash and cash equivalents Term deposits 40,606 — 40,606 — Cash and cash equivalents Forward currency contract assets 3,838 — 3,838 — Other prepaid expenses and other current assets Forward currency contract liabilities 4,162 — 4,162 — Other current liabilities February 3, 2019 Level 1 Level 2 Level 3 Balance Sheet Classification (In thousands) Money market funds $ 471,888 $ 471,888 $ — $ — Cash and cash equivalents Treasury bills 99,958 99,958 — — Cash and cash equivalents Term deposits 63,522 — 63,522 — Cash and cash equivalents Forward currency contract assets 516 — 516 — Other prepaid expenses and other current assets Forward currency contract liabilities 1,042 — 1,042 — Other current liabilities The Company records accounts receivable, accounts payable, and accrued liabilities 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. The Company's Master International Swap Dealers Association, Inc., Agreements and other similar arrangements allow net settlements under certain conditions. However, the Company records all derivatives on its consolidated balance sheets at fair value and does not offset derivative assets and liabilities.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	6 Months Ended
	Aug. 04, 2019
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 and changes in the Chinese Yuan 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 2019 . 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 2019 , 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 and Chinese 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. 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 August 4, 2019 , there were derivative assets of $3.8 million and derivative liabilities of $4.2 million subject to enforceable netting arrangements. The notional amounts and fair values of forward currency contracts were as follows: August 4, 2019 February 3, 2019 Gross Notional Assets Liabilities Gross Notional Assets Liabilities (In thousands) Derivatives designated as net investment hedges: Forward currency contracts $ 217,000 $ — $ 4,162 $ 328,000 $ — $ 1,042 Derivatives not designated in a hedging relationship: Forward currency contracts 211,000 3,838 — 309,000 516 — Net derivatives recognized on consolidated balance sheets: Forward currency contracts $ 3,838 $ 4,162 $ 516 $ 1,042 The forward currency contracts designated as net investment hedges outstanding as of August 4, 2019 mature on different dates between August 2019 and December 2019. The forward currency contracts not designated in a hedging relationship outstanding as of August 4, 2019 mature on different dates between August 2019 and December 2019. The pre-tax gains and losses on foreign exchange forward contracts recorded in accumulated other comprehensive income were as follows: Quarter Ended Two Quarters Ended August 4, 2019 July 29, 2018 August 4, 2019 July 29, 2018 (In thousands) Gains (losses) recognized in foreign currency translation adjustment: Derivatives designated as net investment hedges $ (4,822 ) $ 5,721 $ 1,941 $ 16,538 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 were as follows: Quarter Ended Two Quarters Ended August 4, 2019 July 29, 2018 August 4, 2019 July 29, 2018 (In thousands) Gains (losses) recognized in selling, general and administrative expenses: Foreign exchange (losses) gains $ (4,452 ) $ 2,960 $ 1,245 $ 12,605 Derivatives not designated in a hedging relationship 5,121 (5,539 ) (1,510 ) (15,587 ) Net foreign exchange and derivative gains (losses) $ 669 $ (2,579 ) $ (265 ) $ (2,982 ) 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.

LEASES

LEASES	6 Months Ended
	Aug. 04, 2019
Leases [Abstract]
LEASES	LEASES The Company has obligations under operating leases for its store and other retail locations, distribution centers, offices, and equipment. As of August 4, 2019 , the lease terms of the various leases range from two to 15 years . The majority of the Company's leases include renewal options at the sole discretion of the Company. In general, it is not reasonably certain that lease renewals will be exercised at lease commencement and therefore lease renewals are not included in the lease term. The following table details the Company's net lease expense. Certain of the Company's leases include rent escalation clauses, rent holidays, and leasehold rental incentives. The majority of the Company's leases for store premises also include contingent rental payments based on sales volume. The variable lease expenses disclosed below include contingent rent payments and other non-fixed lease related costs, including common area maintenance, property taxes, and landlord's insurance. Quarter Ended Two Quarters Ended August 4, 2019 August 4, 2019 (In thousands) Net lease expense: Operating lease expense $ 43,429 $ 85,674 Short-term lease expense 2,407 4,316 Variable lease expense 17,504 33,689 $ 63,340 $ 123,679 The following table presents future minimum lease payments and the impact of discounting. August 4, 2019 (In thousands) Final two quarters of fiscal 2019 $ 81,143 2020 141,047 2021 141,259 2022 117,444 2023 91,165 After 2024 213,965 Future minimum lease payments $ 786,023 Impact of discounting (87,530 ) Present value of lease liabilities $ 698,493 Balance sheet classification: Current lease liabilities $ 130,182 Non-current lease liabilities 568,311 $ 698,493 The weighted-average remaining lease term and weighted-average discount rate were as follows: August 4, 2019 Weighted-average remaining lease term 6.11 years Weighted-average discount rate 3.75 % The following table presents supplemental cash flow information related to our leases. Quarter Ended Two Quarters Ended August 4, 2019 August 4, 2019 (In thousands) Cash paid for amounts included in the measurement of lease liabilities $ 42,965 $ 84,672 Leased assets obtained in exchange for new operating lease liabilities 69,140 107,874 Disclosures related to periods prior to adoption of ASC 842 The following table details the Company's total rent expense prior to the adoption of ASC 842 as well as the property taxes for leased locations. Quarter Ended Two Quarters Ended July 29, 2018 July 29, 2018 (In thousands) Total rent expense: Minimum rent expense $ 39,411 $ 76,608 Common area expenses 5,496 10,671 Rent contingent on sales 3,526 6,472 $ 48,433 $ 93,751 Property taxes for leased locations $ 4,191 $ 8,415 The table below summarizes the Company's contractual arrangements as of February 3, 2019, and the timing and effect that such commitments are expected to have on its liquidity and cash flows in future periods. Minimum annual basic rent payments excluding other executory operating costs, pursuant to lease agreements are approximately as laid out in the table below. These amounts include commitments in respect of lease agreements have been executed, but have not yet commenced. Payments Due by Fiscal Year Total 2019 2020 2021 2022 2023 Thereafter (In thousands) Operating leases (minimum rent) $ 783,913 $ 169,822 $ 147,541 $ 123,032 $ 99,471 $ 73,213 $ 170,834

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Aug. 04, 2019
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 August 4, 2019 July 29, 2018 August 4, 2019 July 29, 2018 (In thousands, except per share amounts) Net income $ 124,990 $ 95,770 $ 221,593 $ 170,923 Basic weighted-average number of shares outstanding 130,285 133,986 130,489 134,744 Assumed conversion of dilutive stock options and awards 498 544 571 486 Diluted weighted-average number of shares outstanding 130,783 134,530 131,060 135,230 Basic earnings per share $ 0.96 $ 0.71 $ 1.70 $ 1.27 Diluted earnings per share $ 0.96 $ 0.71 $ 1.69 $ 1.26 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 August 4, 2019 and July 29, 2018 , 0.1 million and 48.5 thousand 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 November 29, 2017, the Company's board of directors approved a stock repurchase program for up to $200.0 million and 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 January 31, 2019, the Company's board of directors approved an additional stock repurchase program for up to $500.0 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 January 2021. As of August 4, 2019 , the remaining aggregate value of shares available to be repurchased under these programs was $335.6 million . During the two quarters ended August 4, 2019 and July 29, 2018 , 1.0 million and 3.4 million shares, respectively, were repurchased under the program at a total cost of $165.1 million and $406.2 million , respectively. Subsequent to August 4, 2019 , and up to August 30, 2019 , 34.1 thousand shares were repurchased at a total cost of $6.1 million .

SUPPLEMENTARY FINANCIAL INFORMA

SUPPLEMENTARY FINANCIAL INFORMATION	6 Months Ended
	Aug. 04, 2019
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: August 4, February 3, (In thousands) Inventories: Finished goods $ 518,180 $ 420,931 Provision to reduce inventories to net realizable value (23,886 ) (16,089 ) $ 494,294 $ 404,842 August 4, February 3, (In thousands) Property and equipment, net: Land $ 71,847 $ 78,636 Buildings 30,192 38,030 Leasehold improvements 402,965 362,571 Furniture and fixtures 106,834 103,733 Computer hardware 80,707 69,542 Computer software 274,922 230,689 Equipment and vehicles 20,281 15,009 Work in progress 84,615 74,271 Property and equipment, gross 1,072,363 972,481 Accumulated depreciation (455,273 ) (405,244 ) $ 617,090 $ 567,237 Other non-current assets: Security deposits $ 16,297 $ 15,793 Deferred lease assets — 9,286 Other 20,820 12,325 $ 37,117 $ 37,404 Other current liabilities: Accrued duty, freight, and other operating expenses $ 57,654 $ 49,945 Sales tax collected 13,058 16,091 Accrued capital expenditures 12,561 11,295 Deferred revenue 9,186 8,045 Sales return allowances 8,752 11,318 Accrued rent 7,093 7,331 Forward currency contract liabilities 4,162 1,042 Lease termination liabilities 420 2,293 Other 4,796 5,338 $ 117,682 $ 112,698 Other non-current liabilities: Tenant inducements $ — $ 42,138 Deferred lease liabilities — 33,406 Other 4,105 6,367 $ 4,105 $ 81,911

SEGMENTED INFORMATION AND DISAG

SEGMENTED INFORMATION AND DISAGGREGATED NET REVENUE	6 Months Ended
	Aug. 04, 2019
Segment Reporting [Abstract]
SEGMENTED INFORMATION AND DISAGGREGATED NET REVENUE	SEGMENTED INFORMATION AND DISAGGREGATED NET REVENUE 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, license and supply arrangements, and warehouse sale net revenue have been combined into other. Quarter Ended Two Quarters Ended August 4, 2019 July 29, 2018 August 4, 2019 July 29, 2018 (In thousands) Net revenue: Company-operated stores $ 583,756 $ 486,368 $ 1,090,178 $ 919,499 Direct to consumer 217,636 167,405 427,480 325,248 Other 81,960 69,727 148,009 128,459 $ 883,352 $ 723,500 $ 1,665,667 $ 1,373,206 Segmented income from operations: Company-operated stores $ 154,332 $ 125,868 $ 275,239 $ 225,155 Direct to consumer 86,081 67,033 164,756 129,300 Other 16,619 13,094 29,252 24,317 257,032 205,995 469,247 378,772 General corporate expense 89,050 71,787 172,453 140,259 Income from operations 167,982 134,208 296,794 238,513 Other income (expense), net 1,850 1,591 4,229 4,509 Income before income tax expense $ 169,832 $ 135,799 $ 301,023 $ 243,022 Capital expenditures: Company-operated stores $ 42,026 $ 27,765 $ 80,736 $ 47,001 Direct to consumer 7,584 593 13,810 1,314 Corporate and other 17,720 21,335 41,218 35,692 $ 67,330 $ 49,693 $ 135,764 $ 84,007 Depreciation and amortization: Company-operated stores $ 23,712 $ 18,489 $ 44,772 $ 35,571 Direct to consumer 2,970 2,302 5,432 4,901 Corporate and other 10,917 7,865 20,218 14,957 $ 37,599 $ 28,656 $ 70,422 $ 55,429 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 August 4, 2019 July 29, 2018 August 4, 2019 July 29, 2018 (In thousands) United States $ 621,843 $ 512,413 $ 1,175,490 $ 974,683 Canada 145,605 124,278 269,250 236,427 Outside of North America 115,904 86,809 220,927 162,096 $ 883,352 $ 723,500 $ 1,665,667 $ 1,373,206

LEGAL PROCEEDINGS AND OTHER CON

LEGAL PROCEEDINGS AND OTHER CONTINGENCIES	6 Months Ended
	Aug. 04, 2019
Commitments and Contingencies Disclosure [Abstract]
LEGAL PROCEEDINGS AND OTHER CONTINGENCIES	LEGAL PROCEEDINGS AND OTHER CONTINGENCIES In addition to the legal proceedings described below, the Company is, from time to time, involved in routine legal matters, and audits and inspections by governmental agencies and other third parties which are incidental to the conduct of its business. This includes 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 legal proceedings, audits, and inspections 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 November 21, 2018, plaintiff David Shabbouei filed in the Delaware Court of Chancery a derivative lawsuit on behalf of the Company against certain of the Company's current and former directors and officers, captioned David Shabbouei v. Laurent Potdevin, et al., 2018-0847-JRS. Plaintiff claims that the defendants breached their fiduciary duties to the Company by allegedly failing to address alleged sexual harassment, gender discrimination, and related conduct at the Company. Plaintiff also claims that the defendants breached their fiduciary duties to the Company and wasted corporate assets with respect to the separation agreement entered into by the Company and Laurent Potdevin in connection with his departure from the Company in February 2018. Plaintiff also further brings an unjust enrichment claim against Mr. Potdevin with respect to the separation agreement. Plaintiff seeks unspecified money damages for the Company for the defendants' alleged breaches of fiduciary duty, waste and unjust enrichment, disgorgement of all profits, benefits and other compensation Mr. Potdevin received as a result of defendants' alleged conduct for the Company, an order directing the Company to implement corporate governance and internal procedures, and an award of plaintiff's attorneys' fees, costs and expenses. The defendants and lululemon have moved to dismiss the action.

NATURE OF OPERATIONS AND BASI_2

NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Policies)	6 Months Ended
	Aug. 04, 2019
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The unaudited interim consolidated financial statements as of August 4, 2019 and for the quarters and two quarters ended August 4, 2019 and July 29, 2018 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 February 3, 2019 is derived from the Company's audited consolidated financial statements and related notes for the fiscal year ended February 3, 2019 , which are included in Item 8 in the Company's fiscal 2018 Annual Report on Form 10-K filed with the SEC on March 27, 2019 . 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 2018
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 2019 will end on February 2, 2020 and will be a 52-week year. Fiscal 2018 was a 53-week year. In accordance with the Disclosure Modernization and Simplification final rule issued by the SEC and effective for the Company beginning with the quarter ended May 5, 2019, a reconciliation of the changes of stockholders' equity is presented for all periods for which the results of operations are presented. 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.
Reclassification	Certain comparative figures have been reclassified to conform to the financial presentation adopted for the current year.
Recently adopted accounting pronouncements	Recently adopted 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. The Company adopted ASC 842 on February 4, 2019 using the modified retrospective approach and has elected not to restate comparative periods. The Company has chosen 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 did not elect the practical expedient to use hindsight when determining the lease term. The primary financial statement impact upon adoption was the recognition, on a discounted basis, of the Company's minimum payments under noncancelable operating leases as right-of-use assets and obligations on the consolidated balance sheets. As of February 4, 2019, right-of-use assets and lease liabilities were $619.6 million and $651.1 million , respectively. Pre-existing lease balances of $34.8 million from current assets, $9.3 million from non-current assets, and $75.5 million from non-current liabilities were reclassified to right-of-use assets and lease liabilities as part of the adoption of the new standard. There was no cumulative earnings effect adjustment on transition. 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 makes more financial and non-financial hedging strategies eligible for hedge accounting. It also amends the presentation and disclosure requirements and changes how companies assess effectiveness. The Company adopted this guidance in the first quarter of fiscal 2019, and it did not have a material impact on the Company's consolidated financial statements. In August 2018, the FASB clarified ASC 350-40, Intangibles - Goodwill and Other - Internal-Use Software , for certain aspects of accounting for implementation costs incurred in a cloud computing arrangement that is a service contract. Under the update, an entity expenses costs incurred in the preliminary-project and post-implementation-operation stages. An entity also capitalizes certain costs incurred during the application-development stage, as well as certain costs related to enhancements. The ASU does not change the accounting for the service component of a cloud computing arrangement. This standard is effective beginning in the first quarter of 2020, with early adoption permitted. The Company adopted this guidance in the first quarter of fiscal 2019, and it did not have a material impact on the Company's consolidated financial statements. Accounting policies as a result of the adoption of ASC 842 Operating leases At lease commencement, which is generally when the Company takes possession of the asset, the Company records a lease liability and corresponding right-of-use asset. Lease liabilities represent the present value of minimum lease payments over the expected lease term, which includes options to extend or terminate the lease when it is reasonably certain those options will be exercised. The present value of the lease liability is determined using the Company’s incremental collateralized borrowing rate at the lease commencement. Minimum lease payments include base rent, fixed escalation of rental payments, and rental payments that are adjusted periodically depending on a rate or index. In determining minimum lease payments, the Company does not separate non-lease components for real estate leases. Non-lease components are generally services that the lessor performs for the Company associated with the leased asset, such as common area maintenance. Right-of-use assets represent the right to control the use of the leased asset during the lease and are initially recognized in an amount equal to the lease liability. In addition, prepaid rent, initial direct costs, and adjustments for lease incentives are components of the right-of-use asset. Over the lease term the lease expense is amortized on a straight-line basis beginning on the lease commencement date. Right-of-use assets are assessed for impairment as part of the impairment of long-lived assets, which is performed whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. Variable lease payments, including contingent rental payments based on sales volume, are recognized when the achievement of the specific target is probable. A right-of-use asset and lease liability are not recognized for leases with an initial term of 12 months or less, and the lease expense is recognized on a straight-line basis over the lease term.
Leases	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. The Company adopted ASC 842 on February 4, 2019 using the modified retrospective approach and has elected not to restate comparative periods. The Company has chosen 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 did not elect the practical expedient to use hindsight when determining the lease term. Operating leases At lease commencement, which is generally when the Company takes possession of the asset, the Company records a lease liability and corresponding right-of-use asset. Lease liabilities represent the present value of minimum lease payments over the expected lease term, which includes options to extend or terminate the lease when it is reasonably certain those options will be exercised. The present value of the lease liability is determined using the Company’s incremental collateralized borrowing rate at the lease commencement. Minimum lease payments include base rent, fixed escalation of rental payments, and rental payments that are adjusted periodically depending on a rate or index. In determining minimum lease payments, the Company does not separate non-lease components for real estate leases. Non-lease components are generally services that the lessor performs for the Company associated with the leased asset, such as common area maintenance. Right-of-use assets represent the right to control the use of the leased asset during the lease and are initially recognized in an amount equal to the lease liability. In addition, prepaid rent, initial direct costs, and adjustments for lease incentives are components of the right-of-use asset. Over the lease term the lease expense is amortized on a straight-line basis beginning on the lease commencement date. Right-of-use assets are assessed for impairment as part of the impairment of long-lived assets, which is performed whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. Variable lease payments, including contingent rental payments based on sales volume, are recognized when the achievement of the specific target is probable. A right-of-use asset and lease liability are not recognized for leases with an initial term of 12 months or less, and the lease expense is recognized on a straight-line basis over the lease term.
Fair value measurement	The Company records accounts receivable, accounts payable, and accrued liabilities 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. The Company's Master International Swap Dealers Association, Inc., Agreements and other similar arrangements allow net settlements under certain conditions. However, the Company records all derivatives on its consolidated balance sheets at fair value and does not offset derivative assets and liabilities.

STOCK-BASED COMPENSATION AND _2

STOCK-BASED COMPENSATION AND BENEFIT PLANS (Tables)	6 Months Ended
	Aug. 04, 2019
Share-based Payment Arrangement [Abstract]
Summary of Company's Stock Option, Performance Share Unit and Restricted Share Activity	A summary of the balances of the Company's stock-based compensation plans as of August 4, 2019 , and changes during the first two quarters then ended, is presented below: Stock Options Performance-Based Restricted Stock Units Restricted Shares Restricted Stock Units Restricted Stock Units (Liability Accounting) 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 Number Weighted-Average Fair Value (In thousands, except per share amounts) Balance at February 3, 2019 870 $ 73.34 280 $ 78.01 6 $ 124.19 440 $ 73.73 44 $ 146.12 Granted 322 167.77 93 142.29 7 175.82 119 167.97 — — Exercised/released 221 61.12 97 72.04 6 124.19 173 70.17 — — Forfeited/expired 50 87.90 15 94.30 — — 23 93.73 — — Balance at August 4, 2019 921 $ 108.50 261 $ 102.23 7 $ 175.82 363 $ 105.04 44 $ 178.93 Exercisable at August 4, 2019 133 $ 64.66
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 during the first two quarters of fiscal 2019 : Two Quarters Ended Expected term 3.75 years Expected volatility 38.43 % Risk-free interest rate 2.19 % Dividend yield — %

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	6 Months Ended
	Aug. 04, 2019
Fair Value Disclosures [Abstract]
Fair Value, Assets and Liabilities Measured on Recurring Basis	As of August 4, 2019 and February 3, 2019 , the Company held certain assets and liabilities that are required to be measured at fair value on a recurring basis: August 4, 2019 Level 1 Level 2 Level 3 Balance Sheet Classification (In thousands) Money market funds $ 347,590 $ 347,590 $ — $ — Cash and cash equivalents Term deposits 40,606 — 40,606 — Cash and cash equivalents Forward currency contract assets 3,838 — 3,838 — Other prepaid expenses and other current assets Forward currency contract liabilities 4,162 — 4,162 — Other current liabilities February 3, 2019 Level 1 Level 2 Level 3 Balance Sheet Classification (In thousands) Money market funds $ 471,888 $ 471,888 $ — $ — Cash and cash equivalents Treasury bills 99,958 99,958 — — Cash and cash equivalents Term deposits 63,522 — 63,522 — Cash and cash equivalents Forward currency contract assets 516 — 516 — Other prepaid expenses and other current assets Forward currency contract liabilities 1,042 — 1,042 — Other current liabilities

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Aug. 04, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Forward Currency Contracts, Statement of Financial Position	The notional amounts and fair values of forward currency contracts were as follows: August 4, 2019 February 3, 2019 Gross Notional Assets Liabilities Gross Notional Assets Liabilities (In thousands) Derivatives designated as net investment hedges: Forward currency contracts $ 217,000 $ — $ 4,162 $ 328,000 $ — $ 1,042 Derivatives not designated in a hedging relationship: Forward currency contracts 211,000 3,838 — 309,000 516 — Net derivatives recognized on consolidated balance sheets: Forward currency contracts $ 3,838 $ 4,162 $ 516 $ 1,042
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 were as follows: Quarter Ended Two Quarters Ended August 4, 2019 July 29, 2018 August 4, 2019 July 29, 2018 (In thousands) Gains (losses) recognized in foreign currency translation adjustment: Derivatives designated as net investment hedges $ (4,822 ) $ 5,721 $ 1,941 $ 16,538
Schedule of Derivative Gains and Losses	The pre-tax net foreign exchange and derivative gains and losses recorded in the consolidated statement of operations were as follows: Quarter Ended Two Quarters Ended August 4, 2019 July 29, 2018 August 4, 2019 July 29, 2018 (In thousands) Gains (losses) recognized in selling, general and administrative expenses: Foreign exchange (losses) gains $ (4,452 ) $ 2,960 $ 1,245 $ 12,605 Derivatives not designated in a hedging relationship 5,121 (5,539 ) (1,510 ) (15,587 ) Net foreign exchange and derivative gains (losses) $ 669 $ (2,579 ) $ (265 ) $ (2,982 )

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Aug. 04, 2019
Leases [Abstract]
Lease Cost	The following table details the Company's total rent expense prior to the adoption of ASC 842 as well as the property taxes for leased locations. Quarter Ended Two Quarters Ended July 29, 2018 July 29, 2018 (In thousands) Total rent expense: Minimum rent expense $ 39,411 $ 76,608 Common area expenses 5,496 10,671 Rent contingent on sales 3,526 6,472 $ 48,433 $ 93,751 Property taxes for leased locations $ 4,191 $ 8,415 The following table details the Company's net lease expense. Certain of the Company's leases include rent escalation clauses, rent holidays, and leasehold rental incentives. The majority of the Company's leases for store premises also include contingent rental payments based on sales volume. The variable lease expenses disclosed below include contingent rent payments and other non-fixed lease related costs, including common area maintenance, property taxes, and landlord's insurance. Quarter Ended Two Quarters Ended August 4, 2019 August 4, 2019 (In thousands) Net lease expense: Operating lease expense $ 43,429 $ 85,674 Short-term lease expense 2,407 4,316 Variable lease expense 17,504 33,689 $ 63,340 $ 123,679 The following table presents supplemental cash flow information related to our leases. Quarter Ended Two Quarters Ended August 4, 2019 August 4, 2019 (In thousands) Cash paid for amounts included in the measurement of lease liabilities $ 42,965 $ 84,672 Leased assets obtained in exchange for new operating lease liabilities 69,140 107,874
Operating Lease Maturities	The following table presents future minimum lease payments and the impact of discounting. August 4, 2019 (In thousands) Final two quarters of fiscal 2019 $ 81,143 2020 141,047 2021 141,259 2022 117,444 2023 91,165 After 2024 213,965 Future minimum lease payments $ 786,023 Impact of discounting (87,530 ) Present value of lease liabilities $ 698,493 Balance sheet classification: Current lease liabilities $ 130,182 Non-current lease liabilities 568,311 $ 698,493
Supplemental Lease Information	The weighted-average remaining lease term and weighted-average discount rate were as follows: August 4, 2019 Weighted-average remaining lease term 6.11 years Weighted-average discount rate 3.75 %
Future Minimum Rental Payments	The table below summarizes the Company's contractual arrangements as of February 3, 2019, and the timing and effect that such commitments are expected to have on its liquidity and cash flows in future periods. Minimum annual basic rent payments excluding other executory operating costs, pursuant to lease agreements are approximately as laid out in the table below. These amounts include commitments in respect of lease agreements have been executed, but have not yet commenced. Payments Due by Fiscal Year Total 2019 2020 2021 2022 2023 Thereafter (In thousands) Operating leases (minimum rent) $ 783,913 $ 169,822 $ 147,541 $ 123,032 $ 99,471 $ 73,213 $ 170,834

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Aug. 04, 2019
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 August 4, 2019 July 29, 2018 August 4, 2019 July 29, 2018 (In thousands, except per share amounts) Net income $ 124,990 $ 95,770 $ 221,593 $ 170,923 Basic weighted-average number of shares outstanding 130,285 133,986 130,489 134,744 Assumed conversion of dilutive stock options and awards 498 544 571 486 Diluted weighted-average number of shares outstanding 130,783 134,530 131,060 135,230 Basic earnings per share $ 0.96 $ 0.71 $ 1.70 $ 1.27 Diluted earnings per share $ 0.96 $ 0.71 $ 1.69 $ 1.26

SUPPLEMENTARY FINANCIAL INFOR_2

SUPPLEMENTARY FINANCIAL INFORMATION (Tables)	6 Months Ended
	Aug. 04, 2019
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: August 4, February 3, (In thousands) Inventories: Finished goods $ 518,180 $ 420,931 Provision to reduce inventories to net realizable value (23,886 ) (16,089 ) $ 494,294 $ 404,842 August 4, February 3, (In thousands) Property and equipment, net: Land $ 71,847 $ 78,636 Buildings 30,192 38,030 Leasehold improvements 402,965 362,571 Furniture and fixtures 106,834 103,733 Computer hardware 80,707 69,542 Computer software 274,922 230,689 Equipment and vehicles 20,281 15,009 Work in progress 84,615 74,271 Property and equipment, gross 1,072,363 972,481 Accumulated depreciation (455,273 ) (405,244 ) $ 617,090 $ 567,237 Other non-current assets: Security deposits $ 16,297 $ 15,793 Deferred lease assets — 9,286 Other 20,820 12,325 $ 37,117 $ 37,404 Other current liabilities: Accrued duty, freight, and other operating expenses $ 57,654 $ 49,945 Sales tax collected 13,058 16,091 Accrued capital expenditures 12,561 11,295 Deferred revenue 9,186 8,045 Sales return allowances 8,752 11,318 Accrued rent 7,093 7,331 Forward currency contract liabilities 4,162 1,042 Lease termination liabilities 420 2,293 Other 4,796 5,338 $ 117,682 $ 112,698 Other non-current liabilities: Tenant inducements $ — $ 42,138 Deferred lease liabilities — 33,406 Other 4,105 6,367 $ 4,105 $ 81,911

SEGMENTED INFORMATION AND DIS_2

SEGMENTED INFORMATION AND DISAGGREGATED NET REVENUE (Tables)	6 Months Ended
	Aug. 04, 2019
Segment Reporting [Abstract]
Segment Reporting	Quarter Ended Two Quarters Ended August 4, 2019 July 29, 2018 August 4, 2019 July 29, 2018 (In thousands) Net revenue: Company-operated stores $ 583,756 $ 486,368 $ 1,090,178 $ 919,499 Direct to consumer 217,636 167,405 427,480 325,248 Other 81,960 69,727 148,009 128,459 $ 883,352 $ 723,500 $ 1,665,667 $ 1,373,206 Segmented income from operations: Company-operated stores $ 154,332 $ 125,868 $ 275,239 $ 225,155 Direct to consumer 86,081 67,033 164,756 129,300 Other 16,619 13,094 29,252 24,317 257,032 205,995 469,247 378,772 General corporate expense 89,050 71,787 172,453 140,259 Income from operations 167,982 134,208 296,794 238,513 Other income (expense), net 1,850 1,591 4,229 4,509 Income before income tax expense $ 169,832 $ 135,799 $ 301,023 $ 243,022 Capital expenditures: Company-operated stores $ 42,026 $ 27,765 $ 80,736 $ 47,001 Direct to consumer 7,584 593 13,810 1,314 Corporate and other 17,720 21,335 41,218 35,692 $ 67,330 $ 49,693 $ 135,764 $ 84,007 Depreciation and amortization: Company-operated stores $ 23,712 $ 18,489 $ 44,772 $ 35,571 Direct to consumer 2,970 2,302 5,432 4,901 Corporate and other 10,917 7,865 20,218 14,957 $ 37,599 $ 28,656 $ 70,422 $ 55,429 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 August 4, 2019 July 29, 2018 August 4, 2019 July 29, 2018 (In thousands) United States $ 621,843 $ 512,413 $ 1,175,490 $ 974,683 Canada 145,605 124,278 269,250 236,427 Outside of North America 115,904 86,809 220,927 162,096 $ 883,352 $ 723,500 $ 1,665,667 $ 1,373,206

NATURE OF OPERATIONS AND BASI_3

NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Detail) - store	Aug. 04, 2019	Feb. 03, 2019
Accounting Policies [Abstract]
Number of company-operated stores	460	440

RECENT ACCOUNTING PRONOUNCEME_2

RECENT ACCOUNTING PRONOUNCEMENTS (Details) - USD ($) $ in Thousands	Aug. 04, 2019	Feb. 04, 2019	Feb. 03, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right-of-use lease assets	$ 657,044	$ 619,600	$ 0
Lease liabilities	698,493	651,100
Current assets	$ 1,333,013		$ 1,429,282
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Current assets		34,800
Non-current assets		9,300
Non-current liabilities		$ 75,500

CREDIT FACILITY (Details)

CREDIT FACILITY (Details) - Line of Credit - USD ($)	6 Months Ended
	Aug. 04, 2019	Jul. 29, 2018	Feb. 03, 2019	Jun. 06, 2018
Line of Credit Facility [Line Items]
Long-term line of credit	$ 0		$ 0
Revolving Credit Facility
Line of Credit Facility [Line Items]
Debt instrument, term	5 years
Maximum borrowing capacity	$ 600,000,000			$ 400,000,000
Letter of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity				50,000,000
Long-term line of credit	$ 1,800,000
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	0.10%	0.125%
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	1.50%	1.75%
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	1.50%	1.75%
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	0.50%	0.75%

STOCK-BASED COMPENSATION AND _3

STOCK-BASED COMPENSATION AND BENEFIT PLANS - Additional Information (Detail) $ in Millions	3 Months Ended	6 Months Ended
	Aug. 04, 2019USD ($)shares	Aug. 04, 2019USD ($)shares	Jul. 29, 2018USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 23.5	$ 13
Total unrecognized compensation cost	$ 82.4	$ 82.4
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		$ 4.3	$ 3.1
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	18,500

STOCK-BASED COMPENSATION AND _4

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
	Aug. 04, 2019$ / sharesshares
Stock Options
Number of Stock Options
Number of Stock Options, Beginning Balance (in shares) | shares	870
Number of Stock Options, Granted (in shares) | shares	322
Number of Stock Options, Exercised/released (in shares) | shares	221
Number of Stock Options, Forfeited/expired (in shares) | shares	50
Number of Stock Options, Ending Balance (in shares) | shares	921
Number of Stock Options, Exercisable at End of Period (in shares) | shares	133
Weighted-Average Exercise Price of Stock Options
Weighted-Average Exercise Price, Options, Beginning Balance (in dollars per share) | $ / shares	$ 73.34
Weighted-Average Exercise Price, Options, Granted (in dollars per share) | $ / shares	167.77
Weighted-Average Exercise Price, Options, Exercised/released (in dollars per share) | $ / shares	61.12
Weighted-Average Exercise Price, Options, Forfeited/expired (in dollars per share) | $ / shares	87.90
Weighted-Average Exercise Price, Options, Ending Balance (in dollars per share) | $ / shares	108.50
Weighted-Average Exercise Price, Options, Exercisable (in dollars per share) | $ / shares	$ 64.66
Performance-Based Restricted Stock Units
Number of Performance-Based Restricted Stock Units and Restricted Shares
Number of Units/Shares, Beginning Balance (in shares) | shares	280
Number of Units/Shares, Granted (in shares) | shares	93
Number of Units/Shares, Exercised/released (in shares) | shares	97
Number of Units/Shares, Forfeited/expired (in shares) | shares	15
Number of Units/Shares, Ending Balance (in shares) | shares	261
Weighted-Average Grant Date Fair Value
Weighted-Average Grant Date Fair Value, Beginning Balance (in dollars per share) | $ / shares	$ 78.01
Weighted-Average Grant Date Fair Value, Granted (in dollars per share) | $ / shares	142.29
Weighted-Average Grant Date Fair Value, Exercised/released (in dollars per share) | $ / shares	72.04
Weighted-Average Grant Date Fair Value, Forfeited/expired (in dollars per share) | $ / shares	94.30
Weighted-Average Grant Date Fair Value, Ending Balance (in dollars per share) | $ / shares	$ 102.23
Restricted Shares
Number of Performance-Based Restricted Stock Units and Restricted Shares
Number of Units/Shares, Beginning Balance (in shares) | shares	6
Number of Units/Shares, Granted (in shares) | shares	7
Number of Units/Shares, Exercised/released (in shares) | shares	6
Number of Units/Shares, Forfeited/expired (in shares) | shares	0
Number of Units/Shares, Ending Balance (in shares) | shares	7
Weighted-Average Grant Date Fair Value
Weighted-Average Grant Date Fair Value, Beginning Balance (in dollars per share) | $ / shares	$ 124.19
Weighted-Average Grant Date Fair Value, Granted (in dollars per share) | $ / shares	175.82
Weighted-Average Grant Date Fair Value, Exercised/released (in dollars per share) | $ / shares	124.19
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	$ 175.82
Restricted Stock Units
Number of Performance-Based Restricted Stock Units and Restricted Shares
Number of Units/Shares, Beginning Balance (in shares) | shares	440
Number of Units/Shares, Granted (in shares) | shares	119
Number of Units/Shares, Exercised/released (in shares) | shares	173
Number of Units/Shares, Forfeited/expired (in shares) | shares	23
Number of Units/Shares, Ending Balance (in shares) | shares	363
Weighted-Average Grant Date Fair Value
Weighted-Average Grant Date Fair Value, Beginning Balance (in dollars per share) | $ / shares	$ 73.73
Weighted-Average Grant Date Fair Value, Granted (in dollars per share) | $ / shares	167.97
Weighted-Average Grant Date Fair Value, Exercised/released (in dollars per share) | $ / shares	70.17
Weighted-Average Grant Date Fair Value, Forfeited/expired (in dollars per share) | $ / shares	93.73
Weighted-Average Grant Date Fair Value, Ending Balance (in dollars per share) | $ / shares	$ 105.04
Restricted Stock Units (Liability Accounting)
Number of Performance-Based Restricted Stock Units and Restricted Shares
Number of Units/Shares, Beginning Balance (in shares) | shares	44
Number of Units/Shares, Granted (in shares) | shares	0
Number of Units/Shares, Exercised/released (in shares) | shares	0
Number of Units/Shares, Forfeited/expired (in shares) | shares	0
Number of Units/Shares, Ending Balance (in shares) | shares	44
Weighted-Average Grant Date Fair Value
Weighted-Average Grant Date Fair Value, Beginning Balance (in dollars per share) | $ / shares	$ 146.12
Weighted-Average Grant Date Fair Value, Granted (in dollars per share) | $ / shares	0
Weighted-Average Grant Date Fair Value, Exercised/released (in dollars per share) | $ / shares	0
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	$ 178.93

STOCK-BASED COMPENSATION AND _5

STOCK-BASED COMPENSATION AND BENEFIT PLANS - Fair Value Assumptions (Detail)	6 Months Ended
	Aug. 04, 2019
Share-based Payment Arrangement [Abstract]
Expected term	3 years 9 months
Expected volatility	38.43%
Risk-free interest rate	2.19%
Dividend yield	0.00%

FAIR VALUE MEASUREMENT (Details

FAIR VALUE MEASUREMENT (Details) - USD ($) $ in Thousands	Aug. 04, 2019	Feb. 03, 2019
Cash and cash equivalents | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, fair value disclosure	$ 347,590	$ 471,888
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	347,590	471,888
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	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	0
Cash and cash equivalents | Treasury bills
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, fair value disclosure		99,958
Cash and cash equivalents | Treasury bills | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, fair value disclosure		99,958
Cash and cash equivalents | Treasury bills | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, fair value disclosure		0
Cash and cash equivalents | Treasury bills | 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	40,606	63,522
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	40,606	63,522
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]
Forward currency contract assets	3,838	516
Other prepaid expenses and other current assets | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
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]
Forward currency contract assets	3,838	516
Other prepaid expenses and other current assets | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Forward currency contract assets	0	0
Other current liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Forward currency contract liabilities	4,162	1,042
Other current liabilities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Forward currency contract liabilities	0	0
Other current liabilities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Forward currency contract liabilities	4,162	1,042
Other current liabilities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Forward currency contract liabilities	$ 0	$ 0

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Quantitative Disclosures about Derivative Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 04, 2019	Jul. 29, 2018	Aug. 04, 2019	Jul. 29, 2018	Feb. 03, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative assets subject to enforceable netting arrangements	$ 3,800		$ 3,800
Derivative liabilities subject to enforceable netting arrangements	4,200		4,200
Foreign Exchange Forward
Gains (losses) recognized in selling, general and administrative expenses:
Net foreign exchange and derivative gains (losses)	669	$ (2,579)	(265)	$ (2,982)
Foreign Exchange Forward | Designated as Hedging Instrument
Gains (losses) recognized in foreign currency translation adjustment:
Derivatives designated as net investment hedges	(4,822)	5,721	1,941	16,538
Gains (losses) recognized in selling, general and administrative expenses:
Net foreign exchange and derivative gains (losses)	(4,452)	2,960	1,245	12,605
Foreign Exchange Forward | Designated as Hedging Instrument | Other current liabilities
Derivatives, Fair Value [Line Items]
Gross Notional	217,000		217,000		$ 328,000
Liabilities	4,162		4,162		1,042
Foreign Exchange Forward | Not Designated as Hedging Instrument
Gains (losses) recognized in selling, general and administrative expenses:
Net foreign exchange and derivative gains (losses)	5,121	$ (5,539)	(1,510)	$ (15,587)
Foreign Exchange Forward | Not Designated as Hedging Instrument | Other prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Gross Notional	211,000		211,000		309,000
Assets	$ 3,838		$ 3,838		$ 516

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jul. 29, 2018	Jul. 29, 2018	Aug. 04, 2019
Lessee, Lease, Description [Line Items]
Rent expense	$ 48,433	$ 93,751
Minimum rent expense	39,411	76,608
Common area expenses	5,496	10,671
Rent contingent on sales	3,526	6,472
Property taxes for leased locations	$ 4,191	$ 8,415
Minimum
Lessee, Lease, Description [Line Items]
Lease term			2 years
Maximum
Lessee, Lease, Description [Line Items]
Lease term			15 years

LEASES - Lease Cost (Details)

LEASES - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Aug. 04, 2019	Aug. 04, 2019
Leases [Abstract]
Operating lease expense	$ 43,429	$ 85,674
Short-term lease expense	2,407	4,316
Variable lease expense	17,504	33,689
Net lease cost	$ 63,340	$ 123,679

LEASES - Lease Maturities (Deta

LEASES - Lease Maturities (Details) - USD ($) $ in Thousands	Aug. 04, 2019	Feb. 04, 2019	Feb. 03, 2019
Leases [Abstract]
2019	$ 81,143
2020	141,047
2021	141,259
2022	117,444
2023	91,165
After 2024	213,965
Future minimum lease payments	786,023
Impact of discounting	(87,530)
Present value of lease liabilities	698,493	$ 651,100
Current lease liabilities	130,182		$ 0
Non-current lease liabilities	568,311		$ 0
Present value of lease liabilities	$ 698,493	$ 651,100

LEASES - Supplemental Lease Inf

LEASES - Supplemental Lease Information (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Aug. 04, 2019USD ($)	Aug. 04, 2019USD ($)
Leases [Abstract]
Weighted-average remaining lease term	6 years 1 month 9 days	6 years 1 month 9 days
Weighted-average discount rate	3.75%	3.75%
Cash paid for amounts included in the measurement of lease liabilities	$ 42,965	$ 84,672
Leased assets obtained in exchange for new operating lease liabilities	$ 69,140	$ 107,874

LEASES - Rent Expense and Prope

LEASES - Rent Expense and Property Taxes (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jul. 29, 2018	Jul. 29, 2018
Leases [Abstract]
Minimum rent expense	$ 39,411	$ 76,608
Common area expenses	5,496	10,671
Rent contingent on sales	3,526	6,472
Total rent expense	48,433	93,751
Property taxes for leased locations	$ 4,191	$ 8,415

LEASES - Minimum Lease Payments

LEASES - Minimum Lease Payments (Details) $ in Thousands	Feb. 03, 2019USD ($)
Leases [Abstract]
Operating Leases, Future Minimum Payments Due	$ 783,913
Operating Leases, Future Minimum Payments Due, Next Twelve Months	169,822
Operating Leases, Future Minimum Payments, Due in Two Years	147,541
Operating Leases, Future Minimum Payments, Due in Three Years	123,032
Operating Leases, Future Minimum Payments, Due in Four Years	99,471
Operating Leases, Future Minimum Payments, Due in Five Years	73,213
Operating Leases, Future Minimum Payments, Due Thereafter	$ 170,834

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
	Aug. 04, 2019	Jul. 29, 2018	Aug. 04, 2019	Jul. 29, 2018
Earnings Per Share [Abstract]
Net income	$ 124,990	$ 95,770	$ 221,593	$ 170,923
Basic weighted-average number of shares outstanding (in shares)	130,285	133,986	130,489	134,744
Assumed conversion of dilutive stock options and awards (in shares)	498	544	571	486
Diluted weighted-average number of shares outstanding (in shares)	130,783	134,530	131,060	135,230
Basic earnings per share (in dollars per share)	$ 0.96	$ 0.71	$ 1.70	$ 1.27
Diluted earnings per share (in dollars per share)	$ 0.96	$ 0.71	$ 1.69	$ 1.26

EARNINGS PER SHARE - Additional

EARNINGS PER SHARE - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Aug. 30, 2019	Aug. 04, 2019	Jul. 29, 2018	Aug. 04, 2019	Jul. 29, 2018	Jan. 31, 2019	Jun. 06, 2018	Nov. 29, 2017
Subsequent Event [Line Items]
Repurchase of common stock (in shares)				1,000,000	3,400,000
Repurchase of common stock		$ 1,569,000	$ 406,238,000	$ 165,099,000	$ 406,246,000
Anti-dilutive stock options (in shares)				100,000	48,500
Aggregate amount authorized for stock repurchase						$ 500,000,000	$ 600,000,000	$ 200,000,000
Remaining authorized repurchase amount		$ 335,600,000		$ 335,600,000
Subsequent Event
Subsequent Event [Line Items]
Repurchase of common stock (in shares)	34,100
Repurchase of common stock	$ 6,100,000

SUPPLEMENTARY FINANCIAL INFOR_3

SUPPLEMENTARY FINANCIAL INFORMATION - Summary of Certain Balance Sheet Accounts (Detail) - USD ($) $ in Thousands	Aug. 04, 2019	Feb. 03, 2019
Inventories:
Finished goods	$ 518,180	$ 420,931
Provision to reduce inventories to net realizable value	(23,886)	(16,089)
Total inventories	494,294	404,842
Property and equipment, net:
Land	71,847	78,636
Buildings	30,192	38,030
Leasehold improvements	402,965	362,571
Furniture and fixtures	106,834	103,733
Computer hardware	80,707	69,542
Computer software	274,922	230,689
Equipment and vehicles	20,281	15,009
Work in progress	84,615	74,271
Property and equipment, gross	1,072,363	972,481
Accumulated depreciation	(455,273)	(405,244)
Total property and equipment	617,090	567,237
Other non-current assets:
Security deposits	16,297	15,793
Deferred lease assets	0	9,286
Other	20,820	12,325
Total other non-current assets	37,117	37,404
Other current liabilities:
Accrued duty, freight, and other operating expenses	57,654	49,945
Sales tax collected	13,058	16,091
Accrued capital expenditures	12,561	11,295
Deferred revenue	9,186	8,045
Sales return allowances	8,752	11,318
Accrued rent	7,093	7,331
Forward currency contract liabilities	4,162	1,042
Lease termination liabilities	420	2,293
Other	4,796	5,338
Total other current liabilities	117,682	112,698
Other non-current liabilities:
Tenant inducements	0	42,138
Deferred lease liabilities	0	33,406
Other	4,105	6,367
Other non-current liabilities	$ 4,105	$ 81,911

SEGMENTED INFORMATION AND DIS_3

SEGMENTED INFORMATION AND DISAGGREGATED NET REVENUE (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 04, 2019	Jul. 29, 2018	Aug. 04, 2019	Jul. 29, 2018
Net revenue:
Net revenue	$ 883,352	$ 723,500	$ 1,665,667	$ 1,373,206
Segmented income from operations:
Segmented income from operations	257,032	205,995	469,247	378,772
General corporate expense	89,050	71,787	172,453	140,259
Income from operations	167,982	134,208	296,794	238,513
Other income (expense), net	1,850	1,591	4,229	4,509
Income before income tax expense	169,832	135,799	301,023	243,022
Capital expenditures:
Capital expenditures	67,330	49,693	135,764	84,007
Depreciation and amortization:
Depreciation and amortization	37,599	28,656	70,422	55,429
United States
Net revenue:
Net revenue	621,843	512,413	1,175,490	974,683
Canada
Net revenue:
Net revenue	145,605	124,278	269,250	236,427
Outside of North America
Net revenue:
Net revenue	115,904	86,809	220,927	162,096
Company-operated stores
Net revenue:
Net revenue	583,756	486,368	1,090,178	919,499
Segmented income from operations:
Segmented income from operations	154,332	125,868	275,239	225,155
Direct to consumer
Net revenue:
Net revenue	217,636	167,405	427,480	325,248
Segmented income from operations:
Segmented income from operations	86,081	67,033	164,756	129,300
Other
Net revenue:
Net revenue	81,960	69,727	148,009	128,459
Segmented income from operations:
Segmented income from operations	16,619	13,094	29,252	24,317
Operating segments | Company-operated stores
Capital expenditures:
Capital expenditures	42,026	27,765	80,736	47,001
Depreciation and amortization:
Depreciation and amortization	23,712	18,489	44,772	35,571
Operating segments | Direct to consumer
Capital expenditures:
Capital expenditures	7,584	593	13,810	1,314
Depreciation and amortization:
Depreciation and amortization	2,970	2,302	5,432	4,901
Corporate and other
Capital expenditures:
Capital expenditures	17,720	21,335	41,218	35,692
Depreciation and amortization:
Depreciation and amortization	$ 10,917	$ 7,865	$ 20,218	$ 14,957