Lululemon Athletica (LULU) 10-Q 8 Sep 20 2020 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Aug. 02, 2020	Sep. 01, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Aug. 2, 2020
Document Transition Report	false
Entity File Number	001-33608
Entity Registrant Name	lululemon athletica inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-3842867
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
Title of 12(b) Security	Common Stock, par value $0.005 per share
Trading Symbol	LULU
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		124,920,793
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001397187
Current Fiscal Year End Date	--01-31

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Aug. 02, 2020	Feb. 02, 2020
Current assets
Cash and cash equivalents	$ 522,998	$ 1,093,505
Accounts receivable	48,922	40,219
Inventories	672,773	518,513
Prepaid and receivable income taxes	125,019	85,159
Prepaid expenses and other current assets	120,043	70,542
Total current assets	1,489,755	1,807,938
Property and equipment, net	698,514	671,693
Right-of-use lease assets	725,805	689,664
Goodwill	386,593	24,182
Intangible assets, net	84,471	241
Deferred income tax assets	31,591	31,435
Other non-current assets	77,298	56,201
Total assets	3,494,027	3,281,354
Current liabilities
Accounts payable	122,767	79,997
Accrued inventory liabilities	31,675	6,344
Other accrued liabilities	177,436	112,641
Accrued compensation and related expenses	84,102	133,688
Current lease liabilities	147,941	128,497
Current income taxes payable	75,153	26,436
Unredeemed gift card liability	106,425	120,413
Other current liabilities	17,810	12,402
Total current liabilities	763,309	620,418
Non-current lease liabilities	632,646	611,464
Non-current income taxes payable	43,150	48,226
Deferred income tax liabilities	46,901	43,432
Other non-current liabilities	6,919	5,596
Total liabilities	1,492,925	1,329,136
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; 5,393 and 6,227 issued and outstanding	0	0
Special voting stock, $0.000005 par value: 60,000 shares authorized; 5,393 and 6,227 issued and outstanding	0	0
Common stock, $0.005 par value: 400,000 shares authorized; 124,917 and 124,122 issued and outstanding	625	621
Additional paid-in capital	358,414	355,541
Retained earnings	1,872,948	1,820,637
Accumulated other comprehensive loss	(230,885)	(224,581)
Total stockholders' equity	2,001,102	1,952,218
Total liabilities and stockholders' equity	$ 3,494,027	$ 3,281,354

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Aug. 02, 2020	Feb. 02, 2020
Statement of Financial Position [Abstract]
Undesignated preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Exchangeable stock shares authorized	60,000,000	60,000,000
Exchangeable stock shares issued	5,393,000	6,227,000
Exchangeable stock shares outstanding	5,393,000	6,227,000
Special voting stock par value (in dollars per share)	$ 0.000005	$ 0.000005
Special voting stock shares authorized	60,000,000	60,000,000
Special voting stock shares issued	5,393,000	6,227,000
Special voting stock shares outstanding	5,393,000	6,227,000
Common stock, par value (in dollars per share)	$ 0.005	$ 0.005
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares, issued	124,917,000	124,122,000
Common stock, shares, outstanding	124,917,000	124,122,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 02, 2020	Aug. 04, 2019	Aug. 02, 2020	Aug. 04, 2019
Income Statement [Abstract]
Net revenue	$ 902,942	$ 883,352	$ 1,554,904	$ 1,665,667
Cost of goods sold	413,441	397,556	731,001	758,151
Gross profit	489,501	485,796	823,903	907,516
Selling, general and administrative expenses	352,904	317,814	652,510	610,722
Amortization of intangible assets	724	0	724	0
Acquisition-related expenses	11,464	0	13,509	0
Income from operations	124,409	167,982	157,160	296,794
Other income (expense), net	(344)	1,850	830	4,229
Income before income tax expense	124,065	169,832	157,990	301,023
Income tax expense	37,264	44,842	42,557	79,430
Net income	86,801	124,990	115,433	221,593
Other comprehensive income:
Foreign currency translation adjustment	54,300	4,514	(6,304)	(11,209)
Comprehensive income	$ 141,101	$ 129,504	$ 109,129	$ 210,384
Basic earnings per share (in dollars per share)	$ 0.67	$ 0.96	$ 0.89	$ 1.70
Diluted earnings per share (in dollars per share)	$ 0.66	$ 0.96	$ 0.88	$ 1.69
Basic weighted-average number of shares outstanding (in shares)	130,245	130,285	130,248	130,489
Diluted weighted-average number of shares outstanding (in shares)	130,799	130,783	130,802	131,060

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - 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 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				$ 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)
Beginning balance (in shares) at Feb. 02, 2020		6,227	6,227	124,122
Beginning balance at Feb. 02, 2020	1,952,218		$ 0	$ 621	355,541	1,820,637	(224,581)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	115,433					115,433
Foreign currency translation adjustment	(6,304)						(6,304)
Common stock issued upon exchange of exchangeable shares (in shares)		(834)	(834)	834
Common stock issued upon exchange of exchangeable shares				$ 4	(4)
Stock-based compensation expense	21,912				21,912
Common stock issued upon settlement of stock-based compensation (in shares)				485
Common stock issued upon settlement of stock-based compensation	12,463			$ 2	12,461
Shares withheld related to net share settlement of stock-based compensation (in shares)				(155)
Shares withheld related to net share settlement of stock-based compensation	$ (30,957)			$ 0	(30,957)
Repurchase of common stock (in shares)	(400)			(369)
Repurchase of common stock	$ (63,663)			$ (2)	(539)	(63,122)
Ending balance (in shares) at Aug. 02, 2020		5,393	5,393	124,917
Ending balance at Aug. 02, 2020	2,001,102		$ 0	$ 625	358,414	1,872,948	(230,885)
Beginning balance (in shares) at May. 03, 2020		5,482	5,482	124,717
Beginning balance at May. 03, 2020	1,835,787		$ 0	$ 624	334,201	1,786,147	(285,185)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	86,801					86,801
Foreign currency translation adjustment	54,300						54,300
Common stock issued upon exchange of exchangeable shares (in shares)		(89)	(89)	89
Stock-based compensation expense	15,784				15,784
Common stock issued upon settlement of stock-based compensation (in shares)				114
Common stock issued upon settlement of stock-based compensation	9,328			$ 0	9,328
Shares withheld related to net share settlement of stock-based compensation (in shares)				(3)
Shares withheld related to net share settlement of stock-based compensation	(898)				(899)
Ending balance (in shares) at Aug. 02, 2020		5,393	5,393	124,917
Ending balance at Aug. 02, 2020	$ 2,001,102		$ 0	$ 625	$ 358,414	$ 1,872,948	$ (230,885)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Aug. 02, 2020	Aug. 04, 2019
Cash flows from operating activities
Net income	$ 115,433	$ 221,593
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	84,176	70,422
Stock-based compensation expense	21,912	22,005
Settlement of derivatives not designated in a hedging relationship	(13,538)	(5,430)
Changes in operating assets and liabilities:
Inventories	(138,194)	(93,358)
Prepaid and receivable income taxes	(39,860)	(63,187)
Prepaid expenses and other current and non-current assets	(76,811)	(45,539)
Accounts payable	35,967	15,791
Accrued inventory liabilities	25,322	(7,069)
Other accrued liabilities	53,868	3,367
Accrued compensation and related expenses	(49,037)	(7,486)
Current and non-current income taxes payable	43,926	(55,508)
Unredeemed gift card liability	(13,848)	(19,413)
Right-of-use lease assets and current and non-current lease liabilities	7,388	9,625
Other current and non-current liabilities	3,358	4,229
Net cash provided by operating activities	60,062	50,042
Cash flows from investing activities
Purchase of property and equipment	(104,723)	(135,764)
Settlement of net investment hedges	10,981	5,062
Acquisition, net of cash acquired	(452,581)	0
Other investing activities	1,000	(1,267)
Net cash used in investing activities	(545,323)	(131,969)
Cash flows from financing activities
Proceeds from settlement of stock-based compensation	12,463	13,514
Taxes paid related to net share settlement of stock-based compensation	(30,957)	(19,400)
Repurchase of common stock	(63,663)	(165,099)
Net cash used in financing activities	(82,157)	(170,985)
Effect of exchange rate changes on cash and cash equivalents	(3,089)	(4,670)
Decrease in cash and cash equivalents	(570,507)	(257,582)
Cash and cash equivalents, beginning of period	1,093,505	881,320
Cash and cash equivalents, end of period	$ 522,998	$ 623,738

NATURE OF OPERATIONS AND BASIS

NATURE OF OPERATIONS AND BASIS OF PRESENTATION	6 Months Ended
	Aug. 02, 2020
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, and license and supply arrangements. The Company operates stores in the United States, Canada, the People's Republic of China ("PRC"), Australia, the United Kingdom, Japan, Germany, New Zealand, South Korea, Singapore, France, Malaysia, Sweden, Ireland, the Netherlands, Norway, and Switzerland. There were 506 and 491 company-operated stores in operation as of August 2, 2020 and February 2, 2020, respectively. On July 7, 2020, the Company acquired Curiouser Products Inc., dba MIRROR, ("MIRROR") which has been consolidated from the date of acquisition. MIRROR generates net revenue from the sale of in-home fitness equipment and associated content subscriptions. Please refer to Note 3 for further information. COVID-19 Pandemic The outbreak of a novel strain of coronavirus ("COVID-19") was declared a global pandemic by the World Health Organization in March 2020. In line with recommendations by public health officials and in accordance with governmental authority orders, the Company took actions to temporarily close the majority of its retail locations and to reduce operating hours. In February 2020, the Company temporarily closed all of its retail locations in Mainland China, and in March 2020, the Company temporarily closed all of its retail locations in North America, Europe, and certain countries in Asia Pacific. The stores in Mainland China reopened during the first quarter of fiscal 2020, and stores in other markets began reopening in accordance with local government and public health authority guidelines during the second quarter of fiscal 2020. The Company's stores are operating with restrictive measures in place such as reduced operating hours and limited occupancy levels. As of August 2, 2020, 492 of its company-operated stores were open. The Company's distribution centers in Columbus, Ohio and Sumner, Washington were temporarily closed for one and two weeks, respectively, during the first quarter of fiscal 2020 due to COVID-19. In response to COVID-19, various government programs have been announced to provide financial relief for affected businesses. The most significant relief measures which the Company qualifies for are the Employee Retention Credit under the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") in the United States, and the Canada Emergency Wage Subsidy ("CEWS") under the COVID-19 Economic Response Plan in Canada. During the first two quarters of fiscal 2020, the Company recognized payroll subsidies totaling $35.5 million under these wage subsidy programs and similar plans in other jurisdictions. These subsidies were recorded as a reduction in the associated wage costs which the Company incurred, and were recognized in selling, general and administrative expenses. The Company also qualifies for and has deferred certain corporate income tax payments and employer payroll tax payments. The most significant is the deferral of $127.5 million of Canadian corporate income tax payments which would otherwise have been paid during the first and second quarters of fiscal 2020 to the third quarter of fiscal 2020. The Financial Accounting Standards Board ("FASB") staff issued guidance in April 2020 in relation to accounting for lease concessions made in connection with the effects of COVID-19. In accordance with this guidance, the Company has elected to treat COVID-19-related lease concessions as variable lease payments. The Company is actively negotiating commercially reasonable lease concessions. No significant lease concessions were recognized in the first two quarters of fiscal 2020. Temporary store closures as a result of COVID-19 and associated reduction in operating income during the first two quarters of fiscal 2020 are considered to be an indicator of impairment and the Company performed an assessment of recoverability for the long-lived assets and right-of-use assets associated with closed retail locations. In the first quarter of fiscal 2020, the Company recognized an insignificant impairment charge as a result of this analysis. Revenue is presented net of an allowance for expected returns, which is estimated based on historic return rates, trends, considering shifts towards increased online shopping by guests, and future expectations. In light of the store closures, the Company has extended its return policy. The increase in the sales return allowance reflects the higher proportion of direct to consumer net revenue and anticipated delays in returns as a result of reduced capacity at retail location and closures. The COVID-19 pandemic has materially impacted the Company's operations. The extent to which COVID-19 continues to impact the Company's operations, and in turn, its operating results and financial position will depend on future developments, which are highly uncertain and cannot be predicted, including new information that may emerge concerning the severity of COVID-19 and the actions taken to contain it or treat its impact. Continued proliferation of the virus, or resurgence, may result in further or prolonged closures of its retail locations and distribution centers, reduce operating hours, interrupt the Company's supply chain, cause changes in guest behavior, and reduce discretionary spending. Such factors could result in the impairment of long-lived assets and right-of-use assets and the need for an increased provision against the carrying value of the Company's inventories. Basis of presentation The unaudited interim consolidated financial statements as of August 2, 2020 and for the quarters and two quarters ended August 2, 2020 and August 4, 2019 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 2, 2020 is derived from the Company's audited consolidated financial statements and related notes for the fiscal year ended February 2, 2020, which are included in Item 8 in the Company's fiscal 2019 Annual Report on Form 10-K filed with the SEC on March 26, 2020. 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 2019 Annual Report on Form 10-K. Changes in the significant accounting policies of the Company compared to those described in the Company's fiscal 2019 Annual Report on Form 10-K as a result of the acquisition of MIRROR are described below, and Note 2 sets out the impact of recent accounting pronouncements. 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 2020 will end on January 31, 2021 and will be a 52-week year. Fiscal 2019 was a 52-week year. The Company's business is affected by the pattern of seasonality common to most retail apparel businesses. Historically, the Company has recognized a significant portion of its operating profit in the fourth fiscal quarter of each year as a result of increased net revenue during the holiday season. Certain comparative figures have been reclassified to conform to the financial presentation adopted for the current year. Accounting policies related to the acquisition of MIRROR Business combinations The purchase price of an acquisition is measured as the aggregate of the fair value of the consideration transferred including the acquisition-date fair value of the Company's previously held equity interests. The purchase price is allocated to the fair values of the tangible and intangible assets acquired and liabilities assumed, with any excess recorded as goodwill. These fair value determinations require judgment and may involve the use of significant estimates and assumptions. The purchase price allocation may be provisional during a measurement period of up to one year to provide reasonable time to obtain the information necessary to identify and measure the assets acquired and liabilities assumed. Any such measurement period adjustments are recognized in the period in which the adjustment amount is determined. Transaction costs associated with the acquisition are expensed as incurred. Goodwill and intangible assets Acquired finite-lived intangible assets are amortized on a straight-line basis over their estimated useful lives, and are reviewed for impairment when events or circumstances indicate that the asset group to which the intangible assets belong might be impaired. The Company revises the estimated remaining useful life of these assets when events or changes in circumstances warrant a revision. If the Company revises the useful life, the unamortized balance is amortized over the remaining useful life on a prospective basis. Goodwill represents the excess of the aggregate of the consideration transferred over the net assets acquired and liabilities assumed and is tested annually for impairment, or more frequently if there are indicators of impairment. Revenue recognition and cost of goods sold MIRROR generates net revenue from the sale of in-home fitness equipment and associated content subscriptions. Certain in-home fitness contracts contain multiple performance obligations, including hardware and a subscription service commitment. For customer contracts that contain multiple performance obligations the Company accounts for individual performance obligations if they are distinct. The transaction price is allocated to each performance obligation based on its standalone selling price. The cost of digital content subscription services, including the costs of content creation, studio overhead, and related production departments is recorded in costs of goods sold.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Aug. 02, 2020
Accounting Policies [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS Recently adopted accounting pronouncements In June 2016, the FASB issued guidance on ASC 326 "Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments". This guidance changes the impairment model for most financial assets and requires the use of a forward-looking expected loss model rather than incurred losses for instruments measured at amortized cost. Under this model, entities are required to estimate the lifetime expected credit loss on such instruments and record an allowance to offset the amortized cost basis of the financial asset, resulting in a net presentation of the amount expected to be collected on the financial asset. The Company adopted this update during the first quarter of fiscal 2020 and it did not have a material impact on the Company's consolidated financial statements. Recently issued accounting pronouncements In December 2019, the FASB issued guidance on ASC 740, "Income Taxes" . The amendments in this update simplify the accounting for income taxes by removing certain exceptions to the general principles in ASC 740. The amendments also improve consistent application and simplify GAAP for other areas of this topic by clarifying and amending existing guidance. This guidance is effective for the Company beginning in its first quarter of fiscal 2021 and early adoption is permitted. The Company is currently evaluating the impact that this new guidance may have on its consolidated financial statements but does not believe it will have a material impact. In March 2020, the FASB released guidance on ASC 848, "Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting" . This update provides optional expedients and exceptions to the current guidance on contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this update apply only to contracts and hedging relationships that reference the London Interbank Offered Rate ("LIBOR") or another reference rate expected to be discontinued due to reference rate reform. The guidance was effective upon issuance and generally can be applied to applicable contract modifications through December 31, 2022. The Company is currently evaluating the impact that this new guidance may have on its consolidated financial statements but does not believe it will have a material impact.

ACQUISITION

ACQUISITION	6 Months Ended
	Aug. 02, 2020
Business Combinations [Abstract]
ACQUISITION	ACQUISITION On July 7, 2020, the Company acquired all of the outstanding shares of MIRROR, an in-home fitness company with an interactive workout platform that features live and on-demand classes. The results of operations, financial position, and cash flows of MIRROR have been included in the Company's consolidated financial statements since the date of acquisition. The following table summarizes the fair value of the consideration transferred at the date of acquisition, as well as the calculation of goodwill based on the excess of consideration over the provisional fair value of net assets acquired. As part of the transaction, the Company assumed $30.1 million of MIRROR's outstanding debt. This included $15.1 million of external debt that was settled as part of the transaction and $15.0 million of debt previously owed by MIRROR to the Company, which represents the effective settlement of a preexisting relationship. The debt was determined to be at market terms and was recognized as a component of the consideration transferred, and no gain or loss was recorded on settlement. July 7, 2020 (in thousands) Fair value of consideration transferred: Cash paid to shareholders $ 428,261 Employee options attributed to pre-combination vesting 4,569 Acquired debt settled on acquisition 30,122 Fair value of existing lululemon investment 1,782 464,734 Less cash and cash equivalents acquired (12,153) Fair value of consideration transferred, net of cash and cash equivalents acquired $ 452,581 Less net assets acquired: Assets acquired: Inventories $ 16,734 Prepaid expenses and other current assets 3,492 Intangible assets 85,000 Other non-current assets 5,648 $ 110,874 Liabilities assumed: Current liabilities $ (13,465) Current and non-current lease liabilities (3,246) Net deferred income tax liability (4,074) $ (20,785) Net assets acquired $ 90,089 Goodwill $ 362,492 The purchase price allocation remains provisional as the Company is still obtaining all information necessary to finalize the fair value of acquired intangibles, deferred taxes, certain contingencies, and resulting amount of goodwill as of the date of acquisition. Goodwill relates to benefits expected as a result of the acquisition to MIRROR's business and has been allocated to the MIRROR reporting unit within the Company's other channels. None of the goodwill is expected to be deductible for income tax purposes. The Company assigned a fair value to and estimated useful lives for the intangible assets acquired as part of the MIRROR business combination. The fair value of the separately identifiable intangible assets, and their estimated useful lives as of the acquisition date were as follows: Estimated Fair Value Estimated Useful Life (In thousands) Intangible assets: Brand $ 26,500 20.0 years Customer relationships 28,000 10.0 years Technology 25,500 7.5 years Content 5,000 5.0 years $ 85,000 Accounting for business combinations requires significant estimates and assumptions to derive the fair value of acquired assets and liabilities, and in the case of MIRROR, this is with specific reference to acquired intangible assets. The fair value of intangible assets was based upon widely-accepted valuation techniques, including discounted cash flows and relief from royalty and replacement cost methods, depending on the nature of the assets acquired or liabilities assumed. Inherent in each valuation technique are critical assumptions, including future revenue growth rates, gross margin, royalty rates, discount rates, and terminal value assumptions. The recognition of deferred tax assets in relation to the historic net operating losses of MIRROR relied on assumptions and estimates of the future profitability of the Company's US operations. The Company has not disclosed pro forma information of the combined business as the transaction is not material to revenue or net earnings. Acquisition-related expenses In connection with the acquisition, the Company recognized certain acquisition-related expenses which are expensed as incurred. These expenses are recognized within acquisition-related expenses in the consolidated statements of operations include the following amounts: • transaction and integration costs, including fees for advisory and professional services incurred as part of the acquisition and integration costs subsequent to the acquisition; • acquisition-related compensation, including the partial acceleration of vesting of certain stock options, and amounts due to selling shareholders that are contingent upon continuing employment; and • gain recognized on the Company's existing investment in the acquiree as of the acquisition date. The following table summarizes the acquisition-related expenses recognized during fiscal 2020: Quarter Ended Two Quarters Ended (in thousands) Acquisition-related expenses: Transaction and integration costs $ 7,201 $ 9,246 Gain on existing investment (782) (782) Acquisition-related compensation 5,045 5,045 $ 11,464 $ 13,509 Income tax effects of acquisition-related expenses $ (1,967) $ (1,967) In the first two quarters of fiscal 2020, the Company recognized an expense of $2.9 million for the partial acceleration of vesting of certain stock options held by MIRROR employees, and recognized $2.1 million related to deferred consideration. The Company will recognize a total expense of $57.1 million for deferred consideration which is due to certain continuing MIRROR employees, subject to the continued employment of those individuals through various vesting dates up to three years from the acquisition date. This acquisition-related compensation is expensed over the vesting periods as service is provided, and consists of cash payments, which are included within accrued compensation and related expenses until payments are made, and stock-based compensation awards that have been granted under the Company's 2014 Equity Incentive Plan to replace certain unvested options as of the acquisition date.

GOODWILL

GOODWILL	6 Months Ended
	Aug. 02, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL The Company's goodwill is assigned to its company-operated stores and other segments. The changes in the carrying amounts of goodwill were as follows: Goodwill (In thousands) Balance as of February 2, 2020 $ 24,182 MIRROR acquisition 362,492 Effect of foreign currency translation (81) Balance as of August 2, 2020 $ 386,593

INTANGIBLE ASSETS, NET

INTANGIBLE ASSETS, NET	6 Months Ended
	Aug. 02, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS, NET	INTANGIBLE ASSETS, NET The carrying value of intangible assets, and their estimated remaining useful lives as of August 2, 2020 were as follows: August 2, February 2, Remaining Useful Life (In thousands) Intangible assets, net: Brand $ 26,390 $ — 19.9 years Customer relationships 27,758 — 9.9 years Technology 25,211 — 7.4 years Content 4,917 — 4.9 years Other 195 241 2.2 years $ 84,471 $ 241

CREDIT FACILITIES

CREDIT FACILITIES	6 Months Ended
	Aug. 02, 2020
Debt Disclosure [Abstract]
CREDIT FACILITIES	CREDIT FACILITIES North America revolving 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 is required to follow certain covenants. As of August 2, 2020, the Company was in compliance with these covenants. The Company had no borrowings outstanding under this credit facility as of August 2, 2020 and February 2, 2020. As of August 2, 2020, the Company had letters of credit of $2.3 million outstanding. Mainland China revolving credit facility In December 2019, the Company entered into an uncommitted and unsecured 130.0 million Chinese Yuan revolving credit facility. The terms are reviewed on an annual basis. The facility includes a revolving loan of up to 100.0 million Chinese Yuan as well as a financial bank guarantee facility of up to 30.0 million Chinese Yuan, or its equivalent in another currency. In U.S. dollars, the uncommitted and unsecured revolving credit facility is equivalent to $18.6 million, the revolving loan is equivalent of up to $14.3 million, and the financial bank guarantee facility is equivalent of up to $4.3 million. Loans are available in Chinese Yuan for a period not to exceed 12 months, and interest accrues on them at a rate equal to 105% of the applicable PBOC Benchmark Lending Rate. Guarantees have a commission equal to 1% per annum of the outstanding amount. The Company is required to follow certain covenants. As of August 2, 2020, the Company was in compliance with these covenants. As of August 2, 2020, there were no borrowings outstanding under this credit facility. 364-Day revolving credit facility On June 29, 2020, the Company entered into a 364-day credit agreement providing for a $300.0 million committed and unsecured revolving credit facility. The credit agreement matures on June 28, 2021. Bank of America, N.A., is administrative agent and swing line lender. Borrowings under the credit facility may be prepaid and commitments may be reduced or terminated without premium or penalty (other than customary breakage costs). Borrowings made under the credit facility bear interest at a rate per annum equal to, at the Company's option, either (1) a rate based on the rates applicable for deposits on the interbank market for U.S. Dollars or the applicable currency in which the borrowings are made (“LIBOR”) or (2) an alternate base rate, plus, in each case, an applicable margin. The applicable margin is determined by reference to a pricing grid, based on the ratio of indebtedness to earnings before interest, tax depreciation, amortization, and rent (“EBITDAR”) and ranges between 1.50%-2.25% for LIBOR loans and 0.50%-1.25% for alternate base rate or Canadian prime rate loans. Additionally, a commitment fee of between 0.25%-0.55%, also determined by reference to the pricing grid, is payable on the average daily unused amounts under the credit facility. The credit agreement contains negative covenants that, among other things and subject to certain exceptions, limit the ability of the Company's subsidiaries to incur indebtedness, incur liens, undergo fundamental changes, make dispositions of all or substantially all of their assets, alter their businesses and enter into agreements limiting subsidiary dividends and distributions. The Company is also required to maintain a consolidated rent-adjusted leverage ratio of not greater than 3.50:1.00 and the Company is not permitted to allow the ratio of consolidated EBITDAR to consolidated interest charges (plus rent) to be less than 2.00:1.00. The credit agreement also contains certain customary representations, warranties, affirmative covenants, and events of default (including, among others, an event of default upon the occurrence of a change of control). If an event of default occurs, the credit agreement may be terminated, and the maturity of any outstanding amounts may be accelerated. As of August 2, 2020, the Company was in compliance with the covenants. As of August 2, 2020, there were no borrowings outstanding under this credit facility.

STOCK-BASED COMPENSATION AND BE

STOCK-BASED COMPENSATION AND BENEFIT PLANS	6 Months Ended
	Aug. 02, 2020
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 $24.9 million and $23.5 million for the two quarters ended August 2, 2020 and August 4, 2019, respectively. Total unrecognized compensation cost for all stock-based compensation plans was $95.5 million at August 2, 2020, which is expected to be recognized over a weighted-average period of 2.2 years. A summary of the balances of the Company's stock-based compensation plans as of August 2, 2020, 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 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 2, 2020 776 $ 113.41 238 $ 103.52 7 $ 175.82 333 $ 108.44 29 $ 239.39 Granted 233 177.71 136 115.73 4 296.36 119 197.45 — — Exercised/released 145 85.80 171 63.03 7 175.82 165 86.93 — — Forfeited/expired 26 158.45 7 158.76 — — 9 156.80 — — Balance at August 2, 2020 838 $ 134.68 196 $ 145.13 4 $ 296.36 278 $ 157.64 29 $ 325.59 Exercisable at August 2, 2020 175 $ 100.92 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 2020: Two Quarters Ended Expected term 3.61 years Expected volatility 40.03 % Risk-free interest rate 0.32 % 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 2, 2020, there were 14.9 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

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	6 Months Ended
	Aug. 02, 2020
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 2, 2020 and February 2, 2020, the Company held certain assets and liabilities that are required to be measured at fair value on a recurring basis: August 2, 2020 Level 1 Level 2 Level 3 Balance Sheet Classification (In thousands) Money market funds $ 179,151 $ 179,151 $ — $ — Cash and cash equivalents Term deposits 70,136 — 70,136 — Cash and cash equivalents Forward currency contract assets 6,513 — 6,513 — Prepaid expenses and other current assets Forward currency contract liabilities 6,559 — 6,559 — Other current liabilities February 2, 2020 Level 1 Level 2 Level 3 Balance Sheet Classification (In thousands) Money market funds $ 610,800 $ 610,800 $ — $ — Cash and cash equivalents Term deposits 203,360 — 203,360 — Cash and cash equivalents Forward currency contract assets 1,735 — 1,735 — Prepaid expenses and other current assets Forward currency contract liabilities 1,920 — 1,920 — 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. 02, 2020
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 2020. 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 2020, 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 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 2, 2020, there were derivative assets of $6.5 million and derivative liabilities of $6.6 million subject to enforceable netting arrangements. The notional amounts and fair values of forward currency contracts were as follows: August 2, 2020 February 2, 2020 Gross Notional Assets Liabilities Gross Notional Assets Liabilities (In thousands) Derivatives designated as net investment hedges: Forward currency contracts $ 721,000 $ — $ 5,870 $ 417,000 $ 1,583 $ — Derivatives not designated in a hedging relationship: Forward currency contracts 726,000 6,513 689 460,000 152 1,920 Net derivatives recognized on consolidated balance sheets: Forward currency contracts $ 6,513 $ 6,559 $ 1,735 $ 1,920 The forward currency contracts designated as net investment hedges outstanding as of August 2, 2020 mature on different dates between August 2020 and February 2021. The forward currency contracts not designated in a hedging relationship outstanding as of August 2, 2020 mature on different dates between August 2020 and January 2021. The pre-tax gains and losses on foreign exchange forward contracts recorded in accumulated other comprehensive income or loss were as follows: Quarter Ended Two Quarters Ended August 2, 2020 August 4, 2019 August 2, 2020 August 4, 2019 (In thousands) Gains (losses) recognized in foreign currency translation adjustment: Derivatives designated as net investment hedges $ (24,728) $ (4,822) $ 3,528 $ 1,941 No gains or losses have been reclassified from accumulated other comprehensive income or loss 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 2, 2020 August 4, 2019 August 2, 2020 August 4, 2019 (In thousands) Gains (losses) recognized in selling, general and administrative expenses: Foreign exchange gains (losses) $ (23,867) $ (4,452) $ 3,874 $ 1,245 Derivatives not designated in a hedging relationship 21,574 5,121 (5,946) (1,510) Net foreign exchange and derivative gains (losses) $ (2,293) $ 669 $ (2,072) $ (265) 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.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Aug. 02, 2020
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 2, 2020 August 4, 2019 August 2, 2020 August 4, 2019 (In thousands, except per share amounts) Net income $ 86,801 $ 124,990 $ 115,433 $ 221,593 Basic weighted-average number of shares outstanding 130,245 130,285 130,248 130,489 Assumed conversion of dilutive stock options and awards 554 498 554 571 Diluted weighted-average number of shares outstanding 130,799 130,783 130,802 131,060 Basic earnings per share $ 0.67 $ 0.96 $ 0.89 $ 1.70 Diluted earnings per share $ 0.66 $ 0.96 $ 0.88 $ 1.69 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 2, 2020 and August 4, 2019, 58.2 thousand and 75.1 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 January 31, 2019, the Company's board of directors approved a 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. As of March 31, 2020, the Company temporarily paused its share repurchase program. As of August 2, 2020, the remaining aggregate value of shares available to be repurchased under this program was $263.6 million. During the two quarters ended August 2, 2020 and August 4, 2019, 0.4 million and 1.0 million shares, respectively, were repurchased under the program at a total cost of $63.7 million and $165.1 million, respectively. Subsequent to August 2, 2020, and up to September 1, 2020, no shares were repurchased.

SUPPLEMENTARY FINANCIAL INFORMA

SUPPLEMENTARY FINANCIAL INFORMATION	6 Months Ended
	Aug. 02, 2020
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 2, February 2, (In thousands) Inventories: Finished goods $ 700,034 $ 540,580 Provision to reduce inventories to net realizable value (27,261) (22,067) $ 672,773 $ 518,513 August 2, February 2, (In thousands) Prepaid expenses and other current assets: Prepaid expenses $ 70,753 $ 64,568 Forward currency contract assets 6,513 1,735 Government payroll subsidy receivables 32,700 — Other current assets 10,077 4,239 $ 120,043 $ 70,542 Property and equipment, net: Land $ 70,843 $ 71,829 Buildings 29,910 30,187 Leasehold improvements 535,033 489,202 Furniture and fixtures 111,565 109,533 Computer hardware 102,263 95,399 Computer software 368,195 336,768 Equipment and vehicles 15,137 19,521 Work in progress 58,429 40,930 Property and equipment, gross 1,291,375 1,193,369 Accumulated depreciation (592,861) (521,676) $ 698,514 $ 671,693 Other non-current assets: Cloud computing arrangement implementation costs $ 45,999 $ 24,648 Security deposits 21,858 19,901 Other 9,441 11,652 $ 77,298 $ 56,201 Other accrued liabilities Accrued duty, freight, and other operating expenses $ 93,658 $ 59,403 Sales return allowances 30,093 12,897 Sales tax collected 19,301 17,370 Accrued capital expenditures 13,624 5,457 Forward currency contract liabilities 6,559 1,920 Accrued rent 6,117 8,356 Other 8,084 7,238 $ 177,436 $ 112,641

SEGMENTED INFORMATION AND DISAG

SEGMENTED INFORMATION AND DISAGGREGATED NET REVENUE	6 Months Ended
	Aug. 02, 2020
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. Other net revenue includes revenue from outlets, temporary locations, sales to wholesale accounts, license and supply arrangements, and the sale of in-home fitness equipment and associated content subscriptions. During the first quarter of fiscal 2020, the Company reviewed its segment and general corporate expenses and determined certain costs that are more appropriately classified in different categories. Accordingly, comparative figures have been reclassified to conform to the financial presentation adopted for the current year. Quarter Ended Two Quarters Ended August 2, 2020 August 4, 2019 August 2, 2020 August 4, 2019 (In thousands) Net revenue: Company-operated stores $ 287,201 $ 583,756 $ 547,171 $ 1,090,178 Direct to consumer 554,302 217,636 906,341 427,480 Other 61,439 81,960 101,392 148,009 $ 902,942 $ 883,352 $ 1,554,904 $ 1,665,667 Segmented income (loss) from operations: Company-operated stores $ (5,293) $ 154,316 $ (35,447) $ 275,227 Direct to consumer 237,595 86,618 394,542 165,955 Other 2,587 16,418 2,318 29,041 234,889 257,352 361,413 470,223 General corporate expense 98,292 89,370 190,020 173,429 Amortization of intangible assets 724 — 724 — Acquisition-related expenses 11,464 — 13,509 — Income from operations 124,409 167,982 157,160 296,794 Other income (expense), net (344) 1,850 830 4,229 Income before income tax expense $ 124,065 $ 169,832 $ 157,990 $ 301,023 Capital expenditures: Company-operated stores $ 27,316 $ 42,026 $ 61,135 $ 80,736 Direct to consumer 9,781 7,584 12,079 13,810 Corporate and other 15,525 17,720 31,509 41,218 $ 52,622 $ 67,330 $ 104,723 $ 135,764 Depreciation and amortization: Company-operated stores $ 21,963 $ 23,712 $ 47,591 $ 44,772 Direct to consumer 2,928 2,970 5,612 5,432 Corporate and other 15,753 10,917 30,973 20,218 $ 40,644 $ 37,599 $ 84,176 $ 70,422 The following table disaggregates the Company's net revenue by geographic area. Quarter Ended Two Quarters Ended August 2, 2020 August 4, 2019 August 2, 2020 August 4, 2019 (In thousands) United States $ 595,918 $ 621,843 $ 1,055,270 $ 1,175,490 Canada 147,658 145,605 247,155 269,250 Outside of North America 159,366 115,904 252,479 220,927 $ 902,942 $ 883,352 $ 1,554,904 $ 1,665,667 The following table disaggregates the Company's net revenue by category. Quarter Ended Two Quarters Ended August 2, 2020 August 4, 2019 August 2, 2020 August 4, 2019 (In thousands) Women's product $ 649,310 $ 616,197 $ 1,129,623 $ 1,179,180 Men's product 191,019 212,727 320,148 382,946 Other categories 62,613 54,428 105,133 103,541 $ 902,942 $ 883,352 $ 1,554,904 $ 1,665,667

LEGAL PROCEEDINGS AND OTHER CON

LEGAL PROCEEDINGS AND OTHER CONTINGENCIES	6 Months Ended
	Aug. 02, 2020
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 March 23, 2020, a former retail employee filed a representative action in the Los Angeles Superior Court alleging violation of the Private Attorney General Act ("PAGA") based on purported California labor code violations including failure to pay wages, failure to pay overtime, failure to provide accurate itemized statements, and failure to provide meal and rest periods. The plaintiff is seeking to recover civil penalties under PAGA. The Company intends to vigorously defend this matter. On April 9, 2020, Aliign Activation Wear, LLC filed a lawsuit in the United States District Court for the Central District of California alleging federal trademark infringement, false designation of origin and unfair competition. The plaintiff is seeking injunctive relief, monetary damages and declaratory relief. The Company intends to vigorously defend this matter.

NATURE OF OPERATIONS AND BASI_2

NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Policies)	6 Months Ended
	Aug. 02, 2020
Accounting Policies [Abstract]
Basis of presentation	Basis of presentationThe unaudited interim consolidated financial statements as of August 2, 2020 and for the quarters and two quarters ended August 2, 2020 and August 4, 2019 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 2, 2020 is derived from the Company's audited consolidated financial statements and related notes for the fiscal year ended February 2, 2020, which are included in Item 8 in the Company's fiscal 2019 Annual Report on Form 10-K filed with the SEC on March 26, 2020. 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 2019 Annual Report on Form 10-K.
Fiscal period	The Company's fiscal year ends on the Sunday closest to January 31 of the following year, typically resulting in a 52-week year, but occasionally giving rise to an additional week, resulting in a 53-week year. Fiscal 2020 will end on January 31, 2021 and will be a 52-week year. Fiscal 2019 was a 52-week year. The Company's business is affected by the pattern of seasonality common to most retail apparel businesses. Historically, the Company has recognized a significant portion of its operating profit in the fourth fiscal quarter of each year as a result of increased net revenue during the holiday season.
Reclassification	Certain comparative figures have been reclassified to conform to the financial presentation adopted for the current year.
Business combinations	Business combinationsThe purchase price of an acquisition is measured as the aggregate of the fair value of the consideration transferred including the acquisition-date fair value of the Company's previously held equity interests. The purchase price is allocated to the fair values of the tangible and intangible assets acquired and liabilities assumed, with any excess recorded as goodwill. These fair value determinations require judgment and may involve the use of significant estimates and assumptions. The purchase price allocation may be provisional during a measurement period of up to one year to provide reasonable time to obtain the information necessary to identify and measure the assets acquired and liabilities assumed. Any such measurement period adjustments are recognized in the period in which the adjustment amount is determined. Transaction costs associated with the acquisition are expensed as incurred.
Goodwill and intangible assets	Goodwill and intangible assets Acquired finite-lived intangible assets are amortized on a straight-line basis over their estimated useful lives, and are reviewed for impairment when events or circumstances indicate that the asset group to which the intangible assets belong might be impaired. The Company revises the estimated remaining useful life of these assets when events or changes in circumstances warrant a revision. If the Company revises the useful life, the unamortized balance is amortized over the remaining useful life on a prospective basis. Goodwill represents the excess of the aggregate of the consideration transferred over the net assets acquired and liabilities assumed and is tested annually for impairment, or more frequently if there are indicators of impairment.
Revenue recognition	MIRROR generates net revenue from the sale of in-home fitness equipment and associated content subscriptions. Certain in-home fitness contracts contain multiple performance obligations, including hardware and a subscription service commitment. For customer contracts that contain multiple performance obligations the Company accounts for individual performance obligations if they are distinct. The transaction price is allocated to each performance obligation based on its standalone selling price.
Recently adopted and issued accounting pronouncements	Recently adopted accounting pronouncements In June 2016, the FASB issued guidance on ASC 326 "Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments". This guidance changes the impairment model for most financial assets and requires the use of a forward-looking expected loss model rather than incurred losses for instruments measured at amortized cost. Under this model, entities are required to estimate the lifetime expected credit loss on such instruments and record an allowance to offset the amortized cost basis of the financial asset, resulting in a net presentation of the amount expected to be collected on the financial asset. The Company adopted this update during the first quarter of fiscal 2020 and it did not have a material impact on the Company's consolidated financial statements. Recently issued accounting pronouncements In December 2019, the FASB issued guidance on ASC 740, "Income Taxes" . The amendments in this update simplify the accounting for income taxes by removing certain exceptions to the general principles in ASC 740. The amendments also improve consistent application and simplify GAAP for other areas of this topic by clarifying and amending existing guidance. This guidance is effective for the Company beginning in its first quarter of fiscal 2021 and early adoption is permitted. The Company is currently evaluating the impact that this new guidance may have on its consolidated financial statements but does not believe it will have a material impact. In March 2020, the FASB released guidance on ASC 848, "Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting" . This update provides optional expedients and exceptions to the current guidance on contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this update apply only to contracts and hedging relationships that reference the London Interbank Offered Rate ("LIBOR") or another reference rate expected to be discontinued due to reference rate reform. The guidance was effective upon issuance and generally can be applied to applicable contract modifications through December 31, 2022. The Company is currently evaluating the impact that this new guidance may have on its consolidated financial statements but does not believe it will have a material impact.
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. 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.
Cost of goods sold	The cost of digital content subscription services, including the costs of content creation, studio overhead, and related production departments is recorded in costs of goods sold.

ACQUISITION (Tables)

ACQUISITION (Tables)	6 Months Ended
	Aug. 02, 2020
Business Combinations [Abstract]
Schedule of Consideration Transferred and Acquisition Related Expenses	The following table summarizes the fair value of the consideration transferred at the date of acquisition, as well as the calculation of goodwill based on the excess of consideration over the provisional fair value of net assets acquired. As part of the transaction, the Company assumed $30.1 million of MIRROR's outstanding debt. This included $15.1 million of external debt that was settled as part of the transaction and $15.0 million of debt previously owed by MIRROR to the Company, which represents the effective settlement of a preexisting relationship. The debt was determined to be at market terms and was recognized as a component of the consideration transferred, and no gain or loss was recorded on settlement. July 7, 2020 (in thousands) Fair value of consideration transferred: Cash paid to shareholders $ 428,261 Employee options attributed to pre-combination vesting 4,569 Acquired debt settled on acquisition 30,122 Fair value of existing lululemon investment 1,782 464,734 Less cash and cash equivalents acquired (12,153) Fair value of consideration transferred, net of cash and cash equivalents acquired $ 452,581 Less net assets acquired: Assets acquired: Inventories $ 16,734 Prepaid expenses and other current assets 3,492 Intangible assets 85,000 Other non-current assets 5,648 $ 110,874 Liabilities assumed: Current liabilities $ (13,465) Current and non-current lease liabilities (3,246) Net deferred income tax liability (4,074) $ (20,785) Net assets acquired $ 90,089 Goodwill $ 362,492 The following table summarizes the acquisition-related expenses recognized during fiscal 2020: Quarter Ended Two Quarters Ended (in thousands) Acquisition-related expenses: Transaction and integration costs $ 7,201 $ 9,246 Gain on existing investment (782) (782) Acquisition-related compensation 5,045 5,045 $ 11,464 $ 13,509 Income tax effects of acquisition-related expenses $ (1,967) $ (1,967)
Schedule of Acquired Finite-Lived Intangible Assets	The fair value of the separately identifiable intangible assets, and their estimated useful lives as of the acquisition date were as follows: Estimated Fair Value Estimated Useful Life (In thousands) Intangible assets: Brand $ 26,500 20.0 years Customer relationships 28,000 10.0 years Technology 25,500 7.5 years Content 5,000 5.0 years $ 85,000

GOODWILL (Tables)

GOODWILL (Tables)	6 Months Ended
	Aug. 02, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The Company's goodwill is assigned to its company-operated stores and other segments. The changes in the carrying amounts of goodwill were as follows: Goodwill (In thousands) Balance as of February 2, 2020 $ 24,182 MIRROR acquisition 362,492 Effect of foreign currency translation (81) Balance as of August 2, 2020 $ 386,593

INTANGIBLE ASSETS, NET (Tables)

INTANGIBLE ASSETS, NET (Tables)	6 Months Ended
	Aug. 02, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	The carrying value of intangible assets, and their estimated remaining useful lives as of August 2, 2020 were as follows: August 2, February 2, Remaining Useful Life (In thousands) Intangible assets, net: Brand $ 26,390 $ — 19.9 years Customer relationships 27,758 — 9.9 years Technology 25,211 — 7.4 years Content 4,917 — 4.9 years Other 195 241 2.2 years $ 84,471 $ 241

STOCK-BASED COMPENSATION AND _2

STOCK-BASED COMPENSATION AND BENEFIT PLANS (Tables)	6 Months Ended
	Aug. 02, 2020
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 2, 2020, 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 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 2, 2020 776 $ 113.41 238 $ 103.52 7 $ 175.82 333 $ 108.44 29 $ 239.39 Granted 233 177.71 136 115.73 4 296.36 119 197.45 — — Exercised/released 145 85.80 171 63.03 7 175.82 165 86.93 — — Forfeited/expired 26 158.45 7 158.76 — — 9 156.80 — — Balance at August 2, 2020 838 $ 134.68 196 $ 145.13 4 $ 296.36 278 $ 157.64 29 $ 325.59 Exercisable at August 2, 2020 175 $ 100.92
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 2020: Two Quarters Ended Expected term 3.61 years Expected volatility 40.03 % Risk-free interest rate 0.32 % Dividend yield — %

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	6 Months Ended
	Aug. 02, 2020
Fair Value Disclosures [Abstract]
Fair Value, Assets and Liabilities Measured on Recurring Basis	As of August 2, 2020 and February 2, 2020, the Company held certain assets and liabilities that are required to be measured at fair value on a recurring basis: August 2, 2020 Level 1 Level 2 Level 3 Balance Sheet Classification (In thousands) Money market funds $ 179,151 $ 179,151 $ — $ — Cash and cash equivalents Term deposits 70,136 — 70,136 — Cash and cash equivalents Forward currency contract assets 6,513 — 6,513 — Prepaid expenses and other current assets Forward currency contract liabilities 6,559 — 6,559 — Other current liabilities February 2, 2020 Level 1 Level 2 Level 3 Balance Sheet Classification (In thousands) Money market funds $ 610,800 $ 610,800 $ — $ — Cash and cash equivalents Term deposits 203,360 — 203,360 — Cash and cash equivalents Forward currency contract assets 1,735 — 1,735 — Prepaid expenses and other current assets Forward currency contract liabilities 1,920 — 1,920 — Other current liabilities

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Aug. 02, 2020
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 2, 2020 February 2, 2020 Gross Notional Assets Liabilities Gross Notional Assets Liabilities (In thousands) Derivatives designated as net investment hedges: Forward currency contracts $ 721,000 $ — $ 5,870 $ 417,000 $ 1,583 $ — Derivatives not designated in a hedging relationship: Forward currency contracts 726,000 6,513 689 460,000 152 1,920 Net derivatives recognized on consolidated balance sheets: Forward currency contracts $ 6,513 $ 6,559 $ 1,735 $ 1,920
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 or loss were as follows: Quarter Ended Two Quarters Ended August 2, 2020 August 4, 2019 August 2, 2020 August 4, 2019 (In thousands) Gains (losses) recognized in foreign currency translation adjustment: Derivatives designated as net investment hedges $ (24,728) $ (4,822) $ 3,528 $ 1,941
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 2, 2020 August 4, 2019 August 2, 2020 August 4, 2019 (In thousands) Gains (losses) recognized in selling, general and administrative expenses: Foreign exchange gains (losses) $ (23,867) $ (4,452) $ 3,874 $ 1,245 Derivatives not designated in a hedging relationship 21,574 5,121 (5,946) (1,510) Net foreign exchange and derivative gains (losses) $ (2,293) $ 669 $ (2,072) $ (265)

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Aug. 02, 2020
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 2, 2020 August 4, 2019 August 2, 2020 August 4, 2019 (In thousands, except per share amounts) Net income $ 86,801 $ 124,990 $ 115,433 $ 221,593 Basic weighted-average number of shares outstanding 130,245 130,285 130,248 130,489 Assumed conversion of dilutive stock options and awards 554 498 554 571 Diluted weighted-average number of shares outstanding 130,799 130,783 130,802 131,060 Basic earnings per share $ 0.67 $ 0.96 $ 0.89 $ 1.70 Diluted earnings per share $ 0.66 $ 0.96 $ 0.88 $ 1.69

SUPPLEMENTARY FINANCIAL INFOR_2

SUPPLEMENTARY FINANCIAL INFORMATION (Tables)	6 Months Ended
	Aug. 02, 2020
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 2, February 2, (In thousands) Inventories: Finished goods $ 700,034 $ 540,580 Provision to reduce inventories to net realizable value (27,261) (22,067) $ 672,773 $ 518,513 August 2, February 2, (In thousands) Prepaid expenses and other current assets: Prepaid expenses $ 70,753 $ 64,568 Forward currency contract assets 6,513 1,735 Government payroll subsidy receivables 32,700 — Other current assets 10,077 4,239 $ 120,043 $ 70,542 Property and equipment, net: Land $ 70,843 $ 71,829 Buildings 29,910 30,187 Leasehold improvements 535,033 489,202 Furniture and fixtures 111,565 109,533 Computer hardware 102,263 95,399 Computer software 368,195 336,768 Equipment and vehicles 15,137 19,521 Work in progress 58,429 40,930 Property and equipment, gross 1,291,375 1,193,369 Accumulated depreciation (592,861) (521,676) $ 698,514 $ 671,693 Other non-current assets: Cloud computing arrangement implementation costs $ 45,999 $ 24,648 Security deposits 21,858 19,901 Other 9,441 11,652 $ 77,298 $ 56,201 Other accrued liabilities Accrued duty, freight, and other operating expenses $ 93,658 $ 59,403 Sales return allowances 30,093 12,897 Sales tax collected 19,301 17,370 Accrued capital expenditures 13,624 5,457 Forward currency contract liabilities 6,559 1,920 Accrued rent 6,117 8,356 Other 8,084 7,238 $ 177,436 $ 112,641

SEGMENTED INFORMATION AND DIS_2

SEGMENTED INFORMATION AND DISAGGREGATED NET REVENUE (Tables)	6 Months Ended
	Aug. 02, 2020
Segment Reporting [Abstract]
Segment Reporting	Quarter Ended Two Quarters Ended August 2, 2020 August 4, 2019 August 2, 2020 August 4, 2019 (In thousands) Net revenue: Company-operated stores $ 287,201 $ 583,756 $ 547,171 $ 1,090,178 Direct to consumer 554,302 217,636 906,341 427,480 Other 61,439 81,960 101,392 148,009 $ 902,942 $ 883,352 $ 1,554,904 $ 1,665,667 Segmented income (loss) from operations: Company-operated stores $ (5,293) $ 154,316 $ (35,447) $ 275,227 Direct to consumer 237,595 86,618 394,542 165,955 Other 2,587 16,418 2,318 29,041 234,889 257,352 361,413 470,223 General corporate expense 98,292 89,370 190,020 173,429 Amortization of intangible assets 724 — 724 — Acquisition-related expenses 11,464 — 13,509 — Income from operations 124,409 167,982 157,160 296,794 Other income (expense), net (344) 1,850 830 4,229 Income before income tax expense $ 124,065 $ 169,832 $ 157,990 $ 301,023 Capital expenditures: Company-operated stores $ 27,316 $ 42,026 $ 61,135 $ 80,736 Direct to consumer 9,781 7,584 12,079 13,810 Corporate and other 15,525 17,720 31,509 41,218 $ 52,622 $ 67,330 $ 104,723 $ 135,764 Depreciation and amortization: Company-operated stores $ 21,963 $ 23,712 $ 47,591 $ 44,772 Direct to consumer 2,928 2,970 5,612 5,432 Corporate and other 15,753 10,917 30,973 20,218 $ 40,644 $ 37,599 $ 84,176 $ 70,422 The following table disaggregates the Company's net revenue by geographic area. Quarter Ended Two Quarters Ended August 2, 2020 August 4, 2019 August 2, 2020 August 4, 2019 (In thousands) United States $ 595,918 $ 621,843 $ 1,055,270 $ 1,175,490 Canada 147,658 145,605 247,155 269,250 Outside of North America 159,366 115,904 252,479 220,927 $ 902,942 $ 883,352 $ 1,554,904 $ 1,665,667 The following table disaggregates the Company's net revenue by category. Quarter Ended Two Quarters Ended August 2, 2020 August 4, 2019 August 2, 2020 August 4, 2019 (In thousands) Women's product $ 649,310 $ 616,197 $ 1,129,623 $ 1,179,180 Men's product 191,019 212,727 320,148 382,946 Other categories 62,613 54,428 105,133 103,541 $ 902,942 $ 883,352 $ 1,554,904 $ 1,665,667

NATURE OF OPERATIONS AND BASI_3

NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Detail) $ in Millions	1 Months Ended	6 Months Ended
	Mar. 31, 2020	Aug. 02, 2020USD ($)store	Feb. 02, 2020store
Income Tax Contingency [Line Items]
Number of company-operated stores in operation | store		506	491
Number of stores open | store		492
Government payroll subsidy recognized | $		$ 35.5
Canada Revenue Agency
Income Tax Contingency [Line Items]
Deferred corporate income tax | $		$ 127.5
Minimum
Income Tax Contingency [Line Items]
Period of closure of distribution centers	7 days
Maximum
Income Tax Contingency [Line Items]
Period of closure of distribution centers	14 days

ACQUISITION - Narrative (Detail

ACQUISITION - Narrative (Details) - MIRROR - USD ($) $ in Millions	Jul. 07, 2020	Aug. 02, 2020
Business Acquisition [Line Items]
Acquired debt settled on acquisition	$ 30.1
Debt to external parties, acquired	15.1
Related party debt, counted for as settled	15
Total deferred consideration	$ 57.1
Award vesting period	3 years
Stock Options
Business Acquisition [Line Items]
Cost recognized for partial acceleration of vesting		$ 2.9
Recognized deferred compensation		$ 2.1

ACQUISITION - Schedule Of Fair

ACQUISITION - Schedule Of Fair Value Of Consideration Transferred (Details) - USD ($) $ in Thousands	Jul. 07, 2020	Aug. 02, 2020	Feb. 02, 2020
Liabilities assumed:
Goodwill		$ 386,593	$ 24,182
MIRROR
Fair value of consideration transferred:
Cash paid to shareholders	$ 428,261
Employee options attributed to pre-combination vesting	4,569
Acquired debt settled on acquisition	30,122
Fair value of existing lululemon investment	1,782
Fair value of consideration transferred	464,734
Less cash and cash equivalents acquired	(12,153)
Fair value of consideration transferred, net of cash and cash equivalents acquired	452,581
Assets acquired:
Inventories	16,734
Prepaid expenses and other current assets	3,492
Intangible assets	85,000
Other non-current assets	5,648
Assets acquired	110,874
Liabilities assumed:
Current liabilities	(13,465)
Current and non-current lease liabilities	(3,246)
Net deferred income tax liability	(4,074)
Liabilities assumed	(20,785)
Net assets acquired	90,089
Goodwill	$ 362,492

ACQUISITION - Schedule of Finit

ACQUISITION - Schedule of Finite Lived Intangible Assets (Details) - USD ($) $ in Thousands	Jul. 07, 2020	Aug. 02, 2020
Brand
Intangible assets:
Remaining Useful Life		19 years 10 months 24 days
Customer relationships
Intangible assets:
Remaining Useful Life		9 years 10 months 24 days
Technology
Intangible assets:
Remaining Useful Life		7 years 4 months 24 days
Content
Intangible assets:
Remaining Useful Life		4 years 10 months 24 days
MIRROR
Intangible assets:
Estimated Fair Value	$ 85,000
MIRROR | Brand
Intangible assets:
Estimated Fair Value	$ 26,500
Remaining Useful Life	20 years
MIRROR | Customer relationships
Intangible assets:
Estimated Fair Value	$ 28,000
Remaining Useful Life	10 years
MIRROR | Technology
Intangible assets:
Estimated Fair Value	$ 25,500
Remaining Useful Life	7 years 6 months
MIRROR | Content
Intangible assets:
Estimated Fair Value	$ 5,000
Remaining Useful Life	5 years

ACQUISITION - Schedule Of Acqui

ACQUISITION - Schedule Of Acquisition Related Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 02, 2020	Aug. 04, 2019	Aug. 02, 2020	Aug. 04, 2019
Acquisition-related expenses:
Transaction and integration costs	$ 7,201		$ 9,246
Gain on existing investment	(782)		(782)
Acquisition-related compensation	5,045		5,045
Acquisition-related expenses	11,464	$ 0	13,509	$ 0
Income tax effects of acquisition-related expenses	$ (1,967)		$ (1,967)

GOODWILL (Details)

GOODWILL (Details) - USD ($) $ in Thousands	Jul. 07, 2020	Aug. 02, 2020
Goodwill [Roll Forward]
Balance as of February 2, 2020		$ 24,182
MIRROR acquisition	$ 362,492
Effect of foreign currency translation		(81)
Balance as of August 2, 2020		$ 386,593

INTANGIBLE ASSETS, NET (Details

INTANGIBLE ASSETS, NET (Details) - USD ($) $ in Thousands	6 Months Ended
	Aug. 02, 2020	Feb. 02, 2020
Intangible assets, net:
Intangible assets, net	$ 84,471	$ 241
Brand
Intangible assets, net:
Intangible assets, net	$ 26,390	0
Remaining Useful Life	19 years 10 months 24 days
Customer relationships
Intangible assets, net:
Intangible assets, net	$ 27,758	0
Remaining Useful Life	9 years 10 months 24 days
Technology
Intangible assets, net:
Intangible assets, net	$ 25,211	0
Remaining Useful Life	7 years 4 months 24 days
Content
Intangible assets, net:
Intangible assets, net	$ 4,917	0
Remaining Useful Life	4 years 10 months 24 days
Other
Intangible assets, net:
Intangible assets, net	$ 195	$ 241
Remaining Useful Life	2 years 2 months 12 days

CREDIT FACILITIES (Details)

CREDIT FACILITIES (Details)	Jun. 29, 2020USD ($)	Jun. 06, 2018USD ($)	Dec. 31, 2019USD ($)	Aug. 02, 2020USD ($)	Feb. 02, 2020USD ($)	Dec. 31, 2019CNY (¥)
Line of Credit Facility [Line Items]
Short-term debt				$ 0
Revolving Credit Facility
Line of Credit Facility [Line Items]
Debt instrument, term			12 months
Maximum borrowing capacity			$ 18,600,000			¥ 130,000,000
Interest accrued rate as percentage of PBOC benchmark lending rate			105.00%
Guarantees commission rate per annum of outstanding amount			1.00%			1.00%
Revolving Loan
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 14,300,000			¥ 100,000,000
Financial Bank Guarantee Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 4,300,000			¥ 30,000,000
Line of Credit
Line of Credit Facility [Line Items]
Long-term line of credit				$ 0	$ 0
Line of Credit | Revolving Credit Facility
Line of Credit Facility [Line Items]
Debt instrument, term	364 days			5 years
Maximum borrowing capacity	$ 300,000,000	$ 400,000,000		$ 600,000,000
Long-term line of credit				0
Line of Credit | Letter of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity		50,000,000
Long-term line of credit				$ 2,300,000
Line of Credit | Swing Line Loan
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 50,000,000
Line of Credit | Minimum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Commitment fee percentage		0.125%		0.10%
Line of Credit | Minimum | Letter of Credit
Line of Credit Facility [Line Items]
Commitment fee percentage		1.00%		1.00%
Line of Credit | Maximum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Commitment fee percentage		0.20%		0.20%
Line of Credit | Maximum | Letter of Credit
Line of Credit Facility [Line Items]
Commitment fee percentage		1.75%		1.50%
Line of Credit | LIBOR | Minimum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.50%	1.00%		1.00%
Line of Credit | LIBOR | Maximum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.25%	1.75%		1.50%
Line of Credit | Base Rate | Minimum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate		0.00%		0.00%
Line of Credit | Base Rate | Maximum | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate		0.75%		0.50%

CREDIT FACILITIES - 364-Day Rev

CREDIT FACILITIES - 364-Day Revolving Credit Facility (Details)	Jun. 29, 2020USD ($)	Jun. 06, 2018USD ($)	Dec. 31, 2019USD ($)	Aug. 02, 2020USD ($)	Feb. 02, 2020USD ($)	Dec. 31, 2019CNY (¥)
Line of Credit
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			12 months
Maximum borrowing capacity			$ 18,600,000			¥ 130,000,000
Revolving Credit Facility | Line of Credit
Line of Credit Facility [Line Items]
Debt instrument, term	364 days			5 years
Maximum borrowing capacity	$ 300,000,000	$ 400,000,000		$ 600,000,000
Leverage ratio, maximum	3.50
Interest charge ratio, minimum	2
Long-term line of credit				$ 0
Revolving Credit Facility | Line of Credit | Minimum
Line of Credit Facility [Line Items]
Unused capacity commitment fee	0.25%
Revolving Credit Facility | Line of Credit | Maximum
Line of Credit Facility [Line Items]
Unused capacity commitment fee	0.55%
Revolving Credit Facility | Line of Credit | LIBOR | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.50%	1.00%		1.00%
Revolving Credit Facility | Line of Credit | LIBOR | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.25%	1.75%		1.50%
Revolving Credit Facility | Line of Credit | Prime Rate | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
Revolving Credit Facility | Line of Credit | Prime Rate | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.25%

STOCK-BASED COMPENSATION AND _3

STOCK-BASED COMPENSATION AND BENEFIT PLANS - Additional Information (Detail) $ in Millions	3 Months Ended	6 Months Ended
	Aug. 02, 2020USD ($)shares	Aug. 02, 2020USD ($)shares	Aug. 04, 2019USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 24.9	$ 23.5
Total unrecognized compensation cost	$ 95.5	$ 95.5
Expected weighted-average period of compensation cost		2 years 2 months 12 days
Common stock per performance share unit (shares)	2	2
Company match contribution		33.33%
Vesting period		2 years
Company contributions		$ 4.5	$ 4.3
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	14,900

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. 02, 2020$ / sharesshares
Stock Options
Number of Stock Options
Number of Stock Options, Beginning Balance (in shares) | shares	776
Number of Stock Options, Granted (in shares) | shares	233
Number of Stock Options, Exercised/released (in shares) | shares	145
Number of Stock Options, Forfeited/expired (in shares) | shares	26
Number of Stock Options, Ending Balance (in shares) | shares	838
Number of Stock Options, Exercisable at End of Period (in shares) | shares	175
Weighted-Average Exercise Price of Stock Options
Weighted-Average Exercise Price, Options, Beginning Balance (in dollars per share) | $ / shares	$ 113.41
Weighted-Average Exercise Price, Options, Granted (in dollars per share) | $ / shares	177.71
Weighted-Average Exercise Price, Options, Exercised/released (in dollars per share) | $ / shares	85.80
Weighted-Average Exercise Price, Options, Forfeited/expired (in dollars per share) | $ / shares	158.45
Weighted-Average Exercise Price, Options, Ending Balance (in dollars per share) | $ / shares	134.68
Weighted-Average Exercise Price, Options, Exercisable (in dollars per share) | $ / shares	$ 100.92
Performance-Based Restricted Stock Units
Number of Performance-Based Restricted Stock Units and Restricted Shares
Number of Units/Shares, Beginning Balance (in shares) | shares	238
Number of Units/Shares, Granted (in shares) | shares	136
Number of Units/Shares, Exercised/released (in shares) | shares	171
Number of Units/Shares, Forfeited/expired (in shares) | shares	7
Number of Units/Shares, Ending Balance (in shares) | shares	196
Weighted-Average Grant Date Fair Value
Weighted-Average Grant Date Fair Value, Beginning Balance (in dollars per share) | $ / shares	$ 103.52
Weighted-Average Grant Date Fair Value, Granted (in dollars per share) | $ / shares	115.73
Weighted-Average Grant Date Fair Value, Exercised/released (in dollars per share) | $ / shares	63.03
Weighted-Average Grant Date Fair Value, Forfeited/expired (in dollars per share) | $ / shares	158.76
Weighted-Average Grant Date Fair Value, Ending Balance (in dollars per share) | $ / shares	$ 145.13
Restricted Shares
Number of Performance-Based Restricted Stock Units and Restricted Shares
Number of Units/Shares, Beginning Balance (in shares) | shares	7
Number of Units/Shares, Granted (in shares) | shares	4
Number of Units/Shares, Exercised/released (in shares) | shares	7
Number of Units/Shares, Forfeited/expired (in shares) | shares	0
Number of Units/Shares, Ending Balance (in shares) | shares	4
Weighted-Average Grant Date Fair Value
Weighted-Average Grant Date Fair Value, Beginning Balance (in dollars per share) | $ / shares	$ 175.82
Weighted-Average Grant Date Fair Value, Granted (in dollars per share) | $ / shares	296.36
Weighted-Average Grant Date Fair Value, Exercised/released (in dollars per share) | $ / shares	175.82
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	$ 296.36
Restricted Stock Units
Number of Performance-Based Restricted Stock Units and Restricted Shares
Number of Units/Shares, Beginning Balance (in shares) | shares	333
Number of Units/Shares, Granted (in shares) | shares	119
Number of Units/Shares, Exercised/released (in shares) | shares	165
Number of Units/Shares, Forfeited/expired (in shares) | shares	9
Number of Units/Shares, Ending Balance (in shares) | shares	278
Weighted-Average Grant Date Fair Value
Weighted-Average Grant Date Fair Value, Beginning Balance (in dollars per share) | $ / shares	$ 108.44
Weighted-Average Grant Date Fair Value, Granted (in dollars per share) | $ / shares	197.45
Weighted-Average Grant Date Fair Value, Exercised/released (in dollars per share) | $ / shares	86.93
Weighted-Average Grant Date Fair Value, Forfeited/expired (in dollars per share) | $ / shares	156.80
Weighted-Average Grant Date Fair Value, Ending Balance (in dollars per share) | $ / shares	$ 157.64
Restricted Stock Units (Liability Accounting)
Number of Performance-Based Restricted Stock Units and Restricted Shares
Number of Units/Shares, Beginning Balance (in shares) | shares	29
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	29
Weighted-Average Grant Date Fair Value
Weighted-Average Grant Date Fair Value, Beginning Balance (in dollars per share) | $ / shares	$ 239.39
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	$ 325.59

STOCK-BASED COMPENSATION AND _5

STOCK-BASED COMPENSATION AND BENEFIT PLANS - Fair Value Assumptions (Detail)	6 Months Ended
	Aug. 02, 2020
Share-based Payment Arrangement [Abstract]
Expected term	3 years 7 months 9 days
Expected volatility	40.03%
Risk-free interest rate	0.32%
Dividend yield	0.00%

FAIR VALUE MEASUREMENT (Details

FAIR VALUE MEASUREMENT (Details) - USD ($)	Aug. 02, 2020	Feb. 02, 2020
Cash and cash equivalents | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 179,151,000	$ 610,800,000
Cash and cash equivalents | Money market funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	179,151,000	610,800,000
Cash and cash equivalents | Money market funds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Cash and cash equivalents | Money market funds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Cash and cash equivalents | Term deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	70,136,000	203,360,000
Cash and cash equivalents | Term deposits | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Cash and cash equivalents | Term deposits | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	70,136,000	203,360,000
Cash and cash equivalents | Term deposits | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Prepaid expenses and other current assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Forward currency contract assets	6,513,000	1,735,000
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
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	6,513,000	1,735,000
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	6,559,000	1,920,000
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	6,559,000	1,920,000
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. 02, 2020	Aug. 04, 2019	Aug. 02, 2020	Aug. 04, 2019	Feb. 02, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative assets subject to enforceable netting arrangements	$ 6,500		$ 6,500
Derivative liabilities subject to enforceable netting arrangements	6,600		6,600
Foreign Exchange Forward
Derivatives, Fair Value [Line Items]
Assets	6,513		6,513		$ 1,735
Liabilities	6,559		6,559		1,920
Gains (losses) recognized in selling, general and administrative expenses:
Net foreign exchange and derivative gains (losses)	(2,293)	$ 669	(2,072)	$ (265)
Foreign Exchange Forward | Derivatives designated as net investment hedges
Derivatives, Fair Value [Line Items]
Gross Notional	721,000		721,000		417,000
Assets	0		0		1,583
Liabilities	5,870		5,870		0
Gains (losses) recognized in foreign currency translation adjustment:
Derivatives designated as net investment hedges	(24,728)	(4,822)	3,528	1,941
Gains (losses) recognized in selling, general and administrative expenses:
Net foreign exchange and derivative gains (losses)	(23,867)	(4,452)	3,874	1,245
Foreign Exchange Forward | Derivatives not designated in a hedging relationship
Derivatives, Fair Value [Line Items]
Gross Notional	726,000		726,000		460,000
Assets	6,513		6,513		152
Liabilities	689		689		$ 1,920
Gains (losses) recognized in selling, general and administrative expenses:
Net foreign exchange and derivative gains (losses)	$ 21,574	$ 5,121	$ (5,946)	$ (1,510)

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. 02, 2020	Aug. 04, 2019	Aug. 02, 2020	Aug. 04, 2019
Earnings Per Share [Abstract]
Net income	$ 86,801	$ 124,990	$ 115,433	$ 221,593
Basic weighted-average number of shares outstanding (in shares)	130,245	130,285	130,248	130,489
Assumed conversion of dilutive stock options and awards (in shares)	554	498	554	571
Diluted weighted-average number of shares outstanding (in shares)	130,799	130,783	130,802	131,060
Basic earnings per share (in dollars per share)	$ 0.67	$ 0.96	$ 0.89	$ 1.70
Diluted earnings per share (in dollars per share)	$ 0.66	$ 0.96	$ 0.88	$ 1.69

EARNINGS PER SHARE - Additional

EARNINGS PER SHARE - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended	6 Months Ended
	Aug. 31, 2020	Aug. 04, 2019	Aug. 02, 2020	Aug. 04, 2019	Jan. 31, 2019
Subsequent Event [Line Items]
Anti-dilutive stock options (in shares)			58,200	75,100
Aggregate amount authorized for stock repurchase (up to)					$ 500,000,000
Remaining authorized repurchase amount			$ 263,600,000
Repurchase of common stock (in shares)			400,000	1,000,000
Repurchase of common stock		$ 1,569,000	$ 63,663,000	$ 165,099,000
Subsequent Event
Subsequent Event [Line Items]
Repurchase of common stock (in shares)	0

SUPPLEMENTARY FINANCIAL INFOR_3

SUPPLEMENTARY FINANCIAL INFORMATION - Summary of Certain Balance Sheet Accounts (Detail) - USD ($) $ in Thousands	Aug. 02, 2020	Feb. 02, 2020
Inventories:
Finished goods	$ 700,034	$ 540,580
Provision to reduce inventories to net realizable value	(27,261)	(22,067)
Total inventories	672,773	518,513
Prepaid expenses	70,753	64,568
Prepaid expenses and other current assets:
Forward currency contract assets	6,513	1,735
Government payroll subsidy receivables	32,700	0
Other current assets	10,077	4,239
Prepaid expenses and other current assets	120,043	70,542
Property and equipment, net:
Land	70,843	71,829
Buildings	29,910	30,187
Leasehold improvements	535,033	489,202
Furniture and fixtures	111,565	109,533
Computer hardware	102,263	95,399
Computer software	368,195	336,768
Equipment and vehicles	15,137	19,521
Work in progress	58,429	40,930
Property and equipment, gross	1,291,375	1,193,369
Accumulated depreciation	(592,861)	(521,676)
Total property and equipment	698,514	671,693
Other non-current assets:
Cloud computing arrangement implementation costs	45,999	24,648
Security deposits	21,858	19,901
Other	9,441	11,652
Total other non-current assets	77,298	56,201
Other accrued liabilities
Accrued duty, freight, and other operating expenses	93,658	59,403
Sales return allowances	30,093	12,897
Sales tax collected	19,301	17,370
Accrued capital expenditures	13,624	5,457
Forward currency contract liabilities	6,559	1,920
Accrued rent	6,117	8,356
Other	8,084	7,238
Other accrued liabilities	$ 177,436	$ 112,641

SEGMENTED INFORMATION AND DIS_3

SEGMENTED INFORMATION AND DISAGGREGATED NET REVENUE (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 02, 2020	Aug. 04, 2019	Aug. 02, 2020	Aug. 04, 2019
Net revenue:
Net revenue	$ 902,942	$ 883,352	$ 1,554,904	$ 1,665,667
Segmented income (loss) from operations:
Segmented income from operations	234,889	257,352	361,413	470,223
General corporate expense	98,292	89,370	190,020	173,429
Income from operations	124,409	167,982	157,160	296,794
Other income (expense), net	(344)	1,850	830	4,229
Income before income tax expense	124,065	169,832	157,990	301,023
Capital expenditures:
Capital expenditures	52,622	67,330	104,723	135,764
Depreciation and amortization:
Depreciation and amortization	40,644	37,599	84,176	70,422
Amortization of intangible assets	724	0	724	0
Acquisition-related expenses	11,464	0	13,509	0
Women's product
Net revenue:
Net revenue	649,310	616,197	1,129,623	1,179,180
Men's product
Net revenue:
Net revenue	191,019	212,727	320,148	382,946
Other categories
Net revenue:
Net revenue	62,613	54,428	105,133	103,541
United States
Net revenue:
Net revenue	595,918	621,843	1,055,270	1,175,490
Canada
Net revenue:
Net revenue	147,658	145,605	247,155	269,250
Outside of North America
Net revenue:
Net revenue	159,366	115,904	252,479	220,927
Company-operated stores
Net revenue:
Net revenue	287,201	583,756	547,171	1,090,178
Segmented income (loss) from operations:
Segmented income from operations	(5,293)	154,316	(35,447)	275,227
Direct to consumer
Net revenue:
Net revenue	554,302	217,636	906,341	427,480
Segmented income (loss) from operations:
Segmented income from operations	237,595	86,618	394,542	165,955
Other
Net revenue:
Net revenue	61,439	81,960	101,392	148,009
Segmented income (loss) from operations:
Segmented income from operations	2,587	16,418	2,318	29,041
Operating segments | Company-operated stores
Capital expenditures:
Capital expenditures	27,316	42,026	61,135	80,736
Depreciation and amortization:
Depreciation and amortization	21,963	23,712	47,591	44,772
Operating segments | Direct to consumer
Capital expenditures:
Capital expenditures	9,781	7,584	12,079	13,810
Depreciation and amortization:
Depreciation and amortization	2,928	2,970	5,612	5,432
Corporate and other
Capital expenditures:
Capital expenditures	15,525	17,720	31,509	41,218
Depreciation and amortization:
Depreciation and amortization	$ 15,753	$ 10,917	$ 30,973	$ 20,218