Lululemon Athletica (LULU) 10-Q 2 Jun 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	May 01, 2022	May 27, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	May 1, 2022
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 Shell Company	false
Entity Common Stock, Shares Outstanding		122,439,795
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001397187
Current Fiscal Year End Date	--01-29

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	May 01, 2022	Jan. 30, 2022
Current assets
Cash and cash equivalents	$ 649,016	$ 1,259,871
Accounts receivable	78,391	77,001
Inventories	1,275,040	966,481
Prepaid and receivable income taxes	116,281	118,928
Prepaid expenses and other current assets	184,512	192,572
Total current assets	2,303,240	2,614,853
Property and equipment, net	974,784	927,710
Right-of-use lease assets	819,998	803,543
Goodwill	386,837	386,880
Intangible assets, net	69,103	71,299
Deferred income tax assets	6,090	6,091
Other non-current assets	137,160	132,102
Total assets	4,697,212	4,942,478
Current liabilities
Accounts payable	308,086	289,728
Accrued liabilities and other	362,938	330,800
Accrued compensation and related expenses	119,482	204,921
Current lease liabilities	178,273	188,996
Current income taxes payable	22,279	133,852
Unredeemed gift card liability	183,910	208,195
Other current liabilities	31,923	48,842
Total current liabilities	1,206,891	1,405,334
Non-current lease liabilities	726,270	692,056
Non-current income taxes payable	28,555	38,074
Deferred income tax liabilities	53,061	53,352
Other non-current liabilities	14,385	13,616
Total liabilities	2,029,162	2,202,432
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; 5,203 and 5,203 issued and outstanding	0	0
Special voting stock, $0.000005 par value: 60,000 shares authorized; 5,203 and 5,203 issued and outstanding	0	0
Common stock, $0.005 par value: 400,000 shares authorized; 122,732 and 123,297 issued and outstanding	614	616
Additional paid-in capital	412,713	422,507
Retained earnings	2,471,432	2,512,840
Accumulated other comprehensive loss	(216,709)	(195,917)
Total stockholders' equity	2,668,050	2,740,046
Total liabilities and stockholders' equity	$ 4,697,212	$ 4,942,478

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	May 01, 2022	Jan. 30, 2022
Statement of Financial Position [Abstract]
Undesignated preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Exchangeable stock shares authorized (in shares)	60,000,000	60,000,000
Exchangeable stock shares issued (in shares)	5,203,000	5,203,000
Exchangeable stock shares outstanding (in shares)	5,203,000	5,203,000
Special voting stock par value (in dollars per share)	$ 0.000005	$ 0.000005
Special voting stock shares authorized (in shares)	60,000,000	60,000,000
Special voting stock shares issued (in shares)	5,203,000	5,203,000
Special voting stock shares outstanding (in shares)	5,203,000	5,203,000
Common stock, par value (in dollars per share)	$ 0.005	$ 0.005
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares, issued (in shares)	122,732,000	123,297,000
Common stock, shares, outstanding (in shares)	122,732,000	123,297,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	May 01, 2022	May 02, 2021
Income Statement [Abstract]
Net revenue	$ 1,613,463	$ 1,226,465
Cost of goods sold	743,070	526,151
Gross profit	870,393	700,314
Selling, general and administrative expenses	607,851	496,634
Amortization of intangible assets	2,195	2,195
Acquisition-related expenses	0	7,664
Income from operations	260,347	193,821
Other income (expense), net	(22)	227
Income before income tax expense	260,325	194,048
Income tax expense	70,327	49,092
Net income	189,998	144,956
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	(25,848)	67,241
Net investment hedge gains (losses)	5,056	(23,605)
Other comprehensive income (loss), net of tax	(20,792)	43,636
Comprehensive income	$ 169,206	$ 188,592
Basic earnings per share (in dollars per share)	$ 1.48	$ 1.11
Diluted earnings per share (in dollars per share)	$ 1.48	$ 1.11
Basic weighted-average number of shares outstanding (in shares)	128,077	130,358
Diluted weighted-average number of shares outstanding (in shares)	128,541	130,984

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 Jan. 31, 2021		5,203	5,203	125,150
Beginning balance at Jan. 31, 2021	$ 2,558,566		$ 0	$ 626	$ 388,667	$ 2,346,428	$ (177,155)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	144,956					144,956
Other comprehensive income (loss), net of tax	43,636						43,636
Stock-based compensation expense	14,932				14,932
Common stock issued upon settlement of stock-based compensation (in shares)				324
Common stock issued upon settlement of stock-based compensation	4,495			$ 2	4,493
Shares withheld related to net share settlement of stock-based compensation (in shares)				(135)
Shares withheld related to net share settlement of stock-based compensation	$ (42,899)			$ (1)	(42,898)
Repurchase of common stock (in shares)	(300)			(270)
Repurchase of common stock	$ (83,831)			$ (2)	(451)	(83,378)
Ending balance (in shares) at May. 02, 2021		5,203	5,203	125,069
Ending balance at May. 02, 2021	2,639,855		$ 0	$ 625	364,743	2,408,006	(133,519)
Beginning balance (in shares) at Jan. 30, 2022		5,203	5,203	123,297
Beginning balance at Jan. 30, 2022	2,740,046		$ 0	$ 616	422,507	2,512,840	(195,917)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	189,998					189,998
Other comprehensive income (loss), net of tax	(20,792)						(20,792)
Stock-based compensation expense	18,358				18,358
Common stock issued upon settlement of stock-based compensation (in shares)				239
Common stock issued upon settlement of stock-based compensation	5,143			$ 2	5,141
Shares withheld related to net share settlement of stock-based compensation (in shares)				(96)
Shares withheld related to net share settlement of stock-based compensation	$ (32,059)				(32,059)
Repurchase of common stock (in shares)	(700)			(708)
Repurchase of common stock	$ (232,644)			$ (4)	(1,234)	(231,406)
Ending balance (in shares) at May. 01, 2022		5,203	5,203	122,732
Ending balance at May. 01, 2022	$ 2,668,050		$ 0	$ 614	$ 412,713	$ 2,471,432	$ (216,709)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	May 01, 2022	May 02, 2021
Cash flows from operating activities
Net income	$ 189,998	$ 144,956
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	64,470	50,485
Stock-based compensation expense	18,358	14,932
Settlement of derivatives not designated in a hedging relationship	(10,378)	21,515
Changes in operating assets and liabilities:
Inventories	(320,607)	(74,218)
Prepaid and receivable income taxes	2,646	767
Prepaid expenses and other current assets	4,296	(11,104)
Other non-current assets	(4,523)	1,105
Accounts payable	20,630	19,623
Accrued liabilities and other	28,113	38,181
Accrued compensation and related expenses	(84,123)	22,764
Current and non-current income taxes payable	(119,959)	(5,433)
Unredeemed gift card liability	(23,816)	(15,838)
Right-of-use lease assets and current and non-current lease liabilities	7,115	1,820
Other current and non-current liabilities	(15,476)	4,554
Net cash provided by (used in) operating activities	(243,256)	214,109
Cash flows from investing activities
Purchase of property and equipment	(111,352)	(64,225)
Settlement of net investment hedges	10,024	(21,239)
Net cash used in investing activities	(101,328)	(85,464)
Cash flows from financing activities
Proceeds from settlement of stock-based compensation	5,143	4,495
Shares withheld related to net share settlement of stock-based compensation	(32,059)	(42,899)
Repurchase of common stock	(232,644)	(83,831)
Net cash used in financing activities	(259,560)	(122,235)
Effect of foreign currency exchange rate changes on cash and cash equivalents	(6,711)	22,812
Increase (decrease) in cash and cash equivalents	(610,855)	29,222
Cash and cash equivalents, beginning of period	1,259,871	1,150,517
Cash and cash equivalents, end of period	$ 649,016	$ 1,179,739

NATURE OF OPERATIONS AND BASIS

NATURE OF OPERATIONS AND BASIS OF PRESENTATION	3 Months Ended
	May 01, 2022
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 technical athletic apparel, footwear, and accessories, which are sold through a chain of company-operated stores, direct to consumer through e-commerce, outlets, sales from temporary locations, sales to wholesale accounts, and license and supply arrangements. The Company operates stores in the United States, the People's Republic of China ("PRC"), Canada, Australia, the United Kingdom, South Korea, Germany, New Zealand, Japan, Singapore, Ireland, France, Malaysia, Sweden, the Netherlands, Norway, and Switzerland. There were 579 and 574 company-operated stores as of May 1, 2022 and January 30, 2022, respectively. The Company also engages in the design and retail of in-home fitness equipment and associated content subscriptions through its MIRROR brand. COVID-19 Pandemic The outbreak of a novel strain of coronavirus ("COVID-19") caused governments and public health officials to impose restrictions and recommend precautions to mitigate the spread of the virus. While most of the Company's retail locations were open throughout the first quarter of fiscal 2022 and 2021, certain locations were temporarily closed based on government and health authority guidance. Certain stores and the Company's third party distribution center in the PRC experienced temporary closures during the first quarter of 2022, and there is uncertainty regarding the ongoing impact of COVID-19 on its operations in the PRC. The pandemic has impacted its suppliers and its distribution and logistics providers, including in the PRC. There has been disruption in transportation and port congestion, an increase in freight costs, and the Company has increased its use of air freight. Basis of presentation The unaudited interim consolidated financial statements as of May 1, 2022 and for the quarters ended May 1, 2022 and May 2, 2021 are presented in U.S. dollars and have been prepared by the Company under the rules and regulations of the Securities and Exchange Commission ("SEC"). The financial information is presented in accordance with United States generally accepted accounting principles ("GAAP") for interim financial information and, accordingly, does not include all of the information and footnotes required by GAAP for complete financial statements. The financial information as of January 30, 2022 is derived from the Company's audited consolidated financial statements and related notes for the fiscal year ended January 30, 2022, which are included in Item 8 in the Company's fiscal 2021 Annual Report on Form 10-K filed with the SEC on March 29, 2022. 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 2021 Annual Report on Form 10-K. Note 2. Recent Accounting Pronouncements 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 2022 will end on January 29, 2023 and will be a 52-week year. Fiscal 2021 was a 52-week year and ended on January 30, 2022. Fiscal 2022 and fiscal 2021 are referred to as "2022," and "2021," respectively. The first quarter of 2022 and 2021 ended on May 1, 2022 and May 2, 2021, respectively. The Company's business is affected by the pattern of seasonality common to most retail apparel businesses. Historically, the Company has recognized a significant portion of its operating profit in the fourth fiscal quarter of each year as a result of increased net revenue during the holiday season.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	May 01, 2022
Accounting Policies [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	Recent Accounting Pronouncements Recently adopted accounting pronouncements The Company considers the applicability and impact of all Accounting Standard Updates ("ASUs"). ASUs adopted by the Company during the first quarter of 2022 not listed below were assessed, and determined to be either not applicable or are expected to have minimal impact on its consolidated financial position or results of operations. In November 2021, the FASB issued ASC 832, Government Assistance to require annual disclosures about the nature of certain government assistance received, the accounting policy used to account for the transactions, the location in the financial statements where such transactions were recorded and significant terms and conditions associated with such transactions. The Company adopted this update prospectively during the first quarter of 2022 and it did not have a material impact on the Company's consolidated financial statements. Recently issued accounting pronouncements ASUs recently issued were assessed and determined to be either not applicable or are expected to have minimal impact on its consolidated financial position or results of operations.

ACQUISITION - RELATED EXPENSES

ACQUISITION - RELATED EXPENSES	3 Months Ended
	May 01, 2022
Business Combination and Asset Acquisition [Abstract]
ACQUISITION - RELATED EXPENSES	Acquisition-Related Expenses 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. In connection with the acquisition, the Company recognized certain acquisition-related expenses which were expensed within acquisition-related expenses in the consolidated statements of operations. The following table summarizes the acquisition-related expenses recognized: First Quarter 2022 2021 (in thousands) Acquisition-related expenses: Transaction and integration costs $ — $ 496 Acquisition-related compensation — 7,168 $ — $ 7,664 Income tax effects of acquisition-related expenses $ — $ (372)

REVOLVING CREDIT FACILITIES

REVOLVING CREDIT FACILITIES	3 Months Ended
	May 01, 2022
Debt Disclosure [Abstract]
REVOLVING CREDIT FACILITIES	Revolving Credit Facilities North America revolving credit facility On December 14, 2021, the Company entered into an amended and restated credit agreement extending its existing credit facility, which provides for $400.0 million in commitments under an unsecured five-year revolving credit facility. The credit facility has a maturity date of December 14, 2026, subject to extension under certain circumstances. Borrowings under the credit facility may be prepaid and commitments may be reduced or terminated without premium or penalty (other than customary breakage costs). As of May 1, 2022, aside from letters of credit of $3.1 million, the Company had no other borrowings outstanding under this credit facility. Borrowings made under the credit facility bear interest at a rate per annum equal to, at the Company's option, either (a) a rate based on the Secured Overnight Financing Rate as administered by the Federal Reserve Bank of New York ("SOFR"), or (b) 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 1.000%-1.375% for SOFR loans and 0.000%-0.375% for alternate base rate or Canadian prime rate loans. Additionally, a commitment fee of between 0.100%-0.200%, also determined by reference to the pricing grid, is payable on the average daily unused amounts under the credit facility. The applicable interest rates and commitment fees are subject to adjustment based on certain sustainability key performance indicators ("KPIs"). The two KPIs are based on greenhouse gas emissions intensity reduction and gender pay equity, and the Company's performance against certain targets measured on an annual basis could result in positive or negative sustainability rate adjustments of 2.50 basis points to its drawn pricing and positive or negative sustainability fee adjustments of 0.50 basis points to its undrawn pricing. 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's financial covenants include maintaining an operating lease adjusted leverage ratio of not greater than 3.25:1.00 and the ratio of consolidated EBITDAR to consolidated interest charges (plus rent) of not 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 May 1, 2022, the Company was in compliance with the covenants of the credit facility. China Mainland revolving credit facility In December 2019, the Company entered into an uncommitted and unsecured 130.0 million Chinese Yuan ($19.7 million) revolving credit facility with terms that are reviewed on an annual basis. The credit facility was increased to 230.0 million Chinese Yuan ($34.8 million) during 2020. It is comprised of a revolving loan of up to 200.0 million Chinese Yuan ($30.3 million) and a financial guarantee facility of up to 30.0 million Chinese Yuan ($4.5 million), or its equivalent in another currency. Loans are available for a period not to exceed 12 months, at an interest rate equal to the loan prime rate plus a spread of 0.5175%. The Company is required to follow certain covenants. As of May 1, 2022, the Company was in compliance with the covenants and, aside from letters of credit of 6.1 million Chinese Yuan ($0.9 million), there were no other borrowings or guarantees outstanding under this credit facility.

STOCK-BASED COMPENSATION AND BE

STOCK-BASED COMPENSATION AND BENEFIT PLANS	3 Months Ended
	May 01, 2022
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, provided directly by the Company. Stock-based compensation expense charged to income for the plans was $18.2 million and $16.2 million for the first quarter of 2022 and 2021, respectively. Total unrecognized compensation cost for all stock-based compensation plans was $170.0 million as of May 1, 2022, which is expected to be recognized over a weighted-average period of 2.5 years. A summary of the balances of the Company's stock-based compensation plans as of May 1, 2022, and changes during the first quarter then ended, is presented below: Stock Options Performance-Based Restricted Stock Units Restricted Shares Restricted Stock Units Number Weighted-Average Exercise Price Number Weighted-Average Grant Date Fair Value Number Weighted-Average Grant Date Fair Value Number Weighted-Average Grant Date Fair Value (In thousands, except per share amounts) Balance as of January 30, 2022 789 $ 186.10 167 $ 225.27 4 $ 326.70 238 $ 265.90 Granted 172 376.92 114 273.49 — — 93 376.92 Exercised/released 36 142.09 114 170.04 — — 89 214.60 Forfeited/expired 5 261.38 2 304.24 — — 4 317.78 Balance as of May 1, 2022 920 $ 223.21 165 $ 295.62 4 $ 326.70 238 $ 327.25 Exercisable as of May 1, 2022 415 $ 152.79 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 grant 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 grant date. The grant date fair value of each stock option granted is estimated on the date of grant using the Black-Scholes model. The closing price of the Company's common stock on the grant date is used in the 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 exercise 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 quarter of 2022: First Quarter 2022 Expected term 3.75 years Expected volatility 40.00 % Risk-free interest rate 2.51 % Dividend yield — % 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 first quarter of 2022, there were 21.6 thousand shares purchased. Defined contribution pension plans The Company offers defined contribution pension plans to its eligible employees. Participating employees may elect to defer and contribute a portion of their eligible compensation to a plan up to limits stated in the plan documents, not to exceed the dollar amounts set by applicable laws. The Company matches 50% to 75% of the contribution depending on the participant's length of service, and the contribution is subject to a two year vesting period. The Company's net expense for the defined contribution plans was $3.4 million and $2.8 million in the first quarter of 2022 and 2021, respectively.

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	3 Months Ended
	May 01, 2022
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 May 1, 2022 and January 30, 2022, the Company held certain assets and liabilities that are required to be measured at fair value on a recurring basis: May 1, 2022 Level 1 Level 2 Level 3 Balance Sheet Classification (In thousands) Money market funds $ 200,316 $ 200,316 $ — $ — Cash and cash equivalents Term deposits 136,127 — 136,127 — Cash and cash equivalents Forward currency contract assets 21,722 — 21,722 — Prepaid expenses and other current assets Forward currency contract liabilities 15,353 — 15,353 — Other current liabilities January 30, 2022 Level 1 Level 2 Level 3 Balance Sheet Classification (In thousands) Money market funds $ 38,475 $ 38,475 $ — $ — Cash and cash equivalents Term deposits 318,698 — 318,698 — Cash and cash equivalents Forward currency contract assets 19,077 — 19,077 — Prepaid expenses and other current assets Forward currency contract liabilities 18,985 — 18,985 — Other current liabilities The Company records cash, 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 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	3 Months Ended
	May 01, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	Derivative Financial Instruments Foreign currency 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 and Chinese Yuan to the U.S. dollar exchange rate and changes in the Euro and Australian dollar to the Canadian dollar exchange rate using forward currency contracts. Net investment hedges The Company is exposed to foreign currency exchange gains and losses which arise on translation of its international subsidiaries' balance sheets into U.S. dollars. These gains and losses are recorded as other comprehensive income (loss), net of tax 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 Company assesses hedge effectiveness based on changes in forward rates. The Company recorded no ineffectiveness from net investment hedges during the first quarter of 2022. 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 currency 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 foreign currency exchange rate. The resulting foreign currency gains and losses are recorded in selling, general and administrative expenses. During the first quarter of 2022, the Company entered into certain forward currency contracts designed to economically hedge the foreign currency exchange revaluation gains and losses that are recognized by its Canadian and Chinese subsidiaries on specific monetary assets and liabilities denominated in currencies other than the functional currency of the entity. 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 May 1, 2022, there were derivative assets of $21.7 million and derivative liabilities of $15.4 million subject to enforceable netting arrangements. The notional amounts and fair values of forward currency contracts were as follows: May 1, 2022 January 30, 2022 Gross Notional Assets Liabilities Gross Notional Assets Liabilities (In thousands) Derivatives designated as net investment hedges: Forward currency contracts $ 1,081,000 $ 15,290 $ — $ 1,502,000 $ 18,468 $ — Derivatives not designated in a hedging relationship: Forward currency contracts 1,195,495 6,432 15,353 1,597,878 609 18,985 Net derivatives recognized on consolidated balance sheets: Forward currency contracts $ 21,722 $ 15,353 $ 19,077 $ 18,985 The forward currency contracts designated as net investment hedges outstanding as of May 1, 2022 mature on different dates between May 2022 and February 2023. The forward currency contracts not designated in a hedging relationship outstanding as of May 1, 2022 mature on different dates between May 2022 and February 2023. The pre-tax gains and losses on foreign currency exchange forward contracts recorded in accumulated other comprehensive income or loss were as follows: First Quarter 2022 2021 (In thousands) Gains (losses) recognized in net investment hedge gains (losses): Derivatives designated as net investment hedges $ 6,847 $ (31,986) 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 currency exchange and derivative gains and losses recorded in the consolidated statement of operations were as follows: First Quarter 2022 2021 (In thousands) Gains (losses) recognized in selling, general and administrative expenses: Foreign currency exchange gains (losses) $ (1,743) $ (33,540) Derivatives not designated in a hedging relationship (892) 30,592 Net foreign currency exchange and derivative gains (losses) $ (2,635) $ (2,948) 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	3 Months Ended
	May 01, 2022
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: First Quarter 2022 2021 (In thousands, except per share amounts) Net income $ 189,998 $ 144,956 Basic weighted-average number of shares outstanding 128,077 130,358 Assumed conversion of dilutive stock options and awards 464 626 Diluted weighted-average number of shares outstanding 128,541 130,984 Basic earnings per share $ 1.48 $ 1.11 Diluted earnings per share $ 1.48 $ 1.11 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 first quarter of 2022 and 2021, 0.1 million and 0.1 million stock options and awards, respectively, were anti-dilutive to earnings per share and therefore have been excluded from the computation of diluted earnings per share. On 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 December 1, 2020, it approved an increase in the remaining authorization from $263.6 million to $500.0 million, and on October 1, 2021, it approved an increase in the remaining authorization from $141.2 million to $641.2 million. During the first quarter of 2022, the Company completed the remaining stock repurchases under this program. On March 23, 2022, the Company's board of directors approved a stock repurchase program for up to $1.0 billion of the Company's common shares on the open market or in privately negotiated transactions. The repurchase plan has no time limit and does not require the repurchase of a minimum number of shares. 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 May 1, 2022, the remaining authorized value of shares available to be repurchased under this program was $954.8 million. During the first quarter of 2022 and 2021, 0.7 million and 0.3 million shares, respectively, were repurchased under the program at a total cost of $232.6 million and $83.8 million, respectively.

SUPPLEMENTARY FINANCIAL INFORMA

SUPPLEMENTARY FINANCIAL INFORMATION	3 Months Ended
	May 01, 2022
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: May 1, January 30, (In thousands) Inventories: Inventories, at cost $ 1,326,659 $ 1,004,526 Provision to reduce inventories to net realizable value (51,619) (38,045) $ 1,275,040 $ 966,481 Prepaid expenses and other current assets: Prepaid inventories $ — $ 42,691 Other prepaid expenses 117,707 98,254 Forward currency contract assets 21,722 19,077 Other current assets 45,083 32,550 $ 184,512 $ 192,572 Property and equipment, net: Land $ 70,353 $ 74,297 Buildings 27,764 30,880 Leasehold improvements 709,800 676,762 Furniture and fixtures 132,111 125,213 Computer hardware 136,399 130,393 Computer software 615,290 532,819 Equipment and vehicles 27,567 23,060 Work in progress 126,151 163,420 Property and equipment, gross 1,845,435 1,756,844 Accumulated depreciation (870,651) (829,134) $ 974,784 $ 927,710 Other non-current assets: Cloud computing arrangement implementation costs $ 94,765 $ 89,334 Security deposits 23,968 24,083 Other 18,427 18,685 $ 137,160 $ 132,102 Accrued liabilities and other: Accrued operating expenses $ 116,638 $ 116,822 Accrued freight 73,192 71,390 Sales return allowances 47,838 41,690 Accrued duty 28,121 27,182 Forward currency contract liabilities 15,353 18,985 Sales tax collected 15,131 13,540 Accrued rent 12,446 11,254 Accrued capital expenditures 15,949 9,616 Accrued inventory liabilities 21,965 4,005 Other 16,305 16,316 $ 362,938 $ 330,800

SEGMENTED INFORMATION

SEGMENTED INFORMATION	3 Months Ended
	May 01, 2022
Segment Reporting [Abstract]
SEGMENTED INFORMATION	Segmented Information The Company's segments are based on the financial information it uses in managing its business and comprise two reportable segments: (i) company-operated stores and (ii) direct to consumer. The remainder of its operations which includes outlets, temporary locations, MIRROR, sales to wholesale accounts, and license and supply arrangements are included within Other. First Quarter 2022 2021 (In thousands) Net revenue: Company-operated stores $ 731,604 $ 536,584 Direct to consumer 721,253 545,089 Other 160,606 144,792 $ 1,613,463 $ 1,226,465 Segmented income from operations: Company-operated stores $ 160,706 $ 99,148 Direct to consumer 285,107 236,933 Other 19,527 14,506 465,340 350,587 General corporate expense 202,798 146,907 Amortization of intangible assets 2,195 2,195 Acquisition-related expenses — 7,664 Income from operations 260,347 193,821 Other income (expense), net (22) 227 Income before income tax expense $ 260,325 $ 194,048 Capital expenditures: Company-operated stores $ 24,946 $ 18,565 Direct to consumer 20,339 26,581 Corporate and other 66,067 19,079 $ 111,352 $ 64,225 Depreciation and amortization: Company-operated stores $ 31,310 $ 26,800 Direct to consumer 8,669 5,748 Corporate and other 24,491 17,937 $ 64,470 $ 50,485 The following table disaggregates the Company's net revenue by geographic area. First Quarter 2022 2021 (In thousands) United States $ 1,098,329 $ 849,614 Canada 244,944 167,729 Outside of North America 270,190 209,122 $ 1,613,463 $ 1,226,465 In addition to the disaggregation of net revenue by reportable segment, the following table disaggregates the Company's net revenue by category. First Quarter 2022 2021 (In thousands) Women's product $ 1,073,924 $ 849,645 Men's product 374,998 274,307 Other categories 164,541 102,513 $ 1,613,463 $ 1,226,465

NET REVENUE BY GEOGRAPHY AND CA

NET REVENUE BY GEOGRAPHY AND CATEGORY	3 Months Ended
	May 01, 2022
Segment Reporting [Abstract]
NET REVENUE BY GEOGRAPHY AND CATEGORY	Segmented Information The Company's segments are based on the financial information it uses in managing its business and comprise two reportable segments: (i) company-operated stores and (ii) direct to consumer. The remainder of its operations which includes outlets, temporary locations, MIRROR, sales to wholesale accounts, and license and supply arrangements are included within Other. First Quarter 2022 2021 (In thousands) Net revenue: Company-operated stores $ 731,604 $ 536,584 Direct to consumer 721,253 545,089 Other 160,606 144,792 $ 1,613,463 $ 1,226,465 Segmented income from operations: Company-operated stores $ 160,706 $ 99,148 Direct to consumer 285,107 236,933 Other 19,527 14,506 465,340 350,587 General corporate expense 202,798 146,907 Amortization of intangible assets 2,195 2,195 Acquisition-related expenses — 7,664 Income from operations 260,347 193,821 Other income (expense), net (22) 227 Income before income tax expense $ 260,325 $ 194,048 Capital expenditures: Company-operated stores $ 24,946 $ 18,565 Direct to consumer 20,339 26,581 Corporate and other 66,067 19,079 $ 111,352 $ 64,225 Depreciation and amortization: Company-operated stores $ 31,310 $ 26,800 Direct to consumer 8,669 5,748 Corporate and other 24,491 17,937 $ 64,470 $ 50,485 The following table disaggregates the Company's net revenue by geographic area. First Quarter 2022 2021 (In thousands) United States $ 1,098,329 $ 849,614 Canada 244,944 167,729 Outside of North America 270,190 209,122 $ 1,613,463 $ 1,226,465 In addition to the disaggregation of net revenue by reportable segment, the following table disaggregates the Company's net revenue by category. First Quarter 2022 2021 (In thousands) Women's product $ 1,073,924 $ 849,645 Men's product 374,998 274,307 Other categories 164,541 102,513 $ 1,613,463 $ 1,226,465

LEGAL PROCEEDINGS AND OTHER CON

LEGAL PROCEEDINGS AND OTHER CONTINGENCIES	3 Months Ended
	May 01, 2022
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. The Company has recognized immaterial provisions related to the expected outcome of legal proceedings. In April 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 obtained summary judgment that the Company did not infringe upon any of the plaintiff's rights and the district court entered judgment in the Company's favor on all claims. The plaintiff has filed a Notice of Appeal with the United States Court of Appeals for the Ninth Circuit. The Company intends to defend its win at the appellate level. In April 2021, DISH Technologies L.L.C., and Sling TV L.L.C. (DISH) filed a complaint in the United States District Court for the District of Delaware and, along with DISH DBS Corporation, also with the United States International Trade Commission (ITC) under Section 337 of the Tariff Act of 1930 against the Company and its Curiouser Products subsidiary (MIRROR), along with ICON Health & Fitness, Inc., FreeMotion Fitness, Inc., NordicTrack, Inc., and Peloton Interactive, Inc., alleging infringement of various patents related to fitness devices containing internet-streaming enabled video displays. In the ITC complaint, DISH seeks an exclusion order barring the importation of MIRROR fitness devices, streaming components and systems containing components that infringe one or more of the asserted patents as well as a cease and desist order preventing the Company from carrying out commercial activities within the United States related to those products. In the District of Delaware complaint, DISH is seeking an order permanently enjoining the Company from infringing the asserted patents, an award of damages for the infringement of the asserted patents, and an award of damages for lost sales. The ITC investigation is ongoing and the Delaware litigation remains stayed pending resolution to the ITC investigation. The Company intends to vigorously defend this matter.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	3 Months Ended
	May 01, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENT	Subsequent EventSubsequent to May 1, 2022, the Company completed the sale of an administrative office building. As of May 1, 2022, the building's carrying value of $5.4 million was classified as a held for sale and was recognized within other current assets. The sale resulted in a pre-tax gain of $10.2 million which will be recognized during the second quarter of 2022.

NATURE OF OPERATIONS AND BASI_2

NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Policies)	3 Months Ended
	May 01, 2022
Accounting Policies [Abstract]
Basis of presentation	Basis of presentationThe unaudited interim consolidated financial statements as of May 1, 2022 and for the quarters ended May 1, 2022 and May 2, 2021 are presented in U.S. dollars and have been prepared by the Company under the rules and regulations of the Securities and Exchange Commission ("SEC"). The financial information is presented in accordance with United States generally accepted accounting principles ("GAAP") for interim financial information and, accordingly, does not include all of the information and footnotes required by GAAP for complete financial statements. The financial information as of January 30, 2022 is derived from the Company's audited consolidated financial statements and related notes for the fiscal year ended January 30, 2022, which are included in Item 8 in the Company's fiscal 2021 Annual Report on Form 10-K filed with the SEC on March 29, 2022. 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 2021 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 2022 will end on January 29, 2023 and will be a 52-week year. Fiscal 2021 was a 52-week year and ended on January 30, 2022. Fiscal 2022 and fiscal 2021 are referred to as "2022," and "2021," respectively. The first quarter of 2022 and 2021 ended on May 1, 2022 and May 2, 2021, respectively. 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.
Recently adopted and issued accounting pronouncements	Recently adopted accounting pronouncements The Company considers the applicability and impact of all Accounting Standard Updates ("ASUs"). ASUs adopted by the Company during the first quarter of 2022 not listed below were assessed, and determined to be either not applicable or are expected to have minimal impact on its consolidated financial position or results of operations. In November 2021, the FASB issued ASC 832, Government Assistance to require annual disclosures about the nature of certain government assistance received, the accounting policy used to account for the transactions, the location in the financial statements where such transactions were recorded and significant terms and conditions associated with such transactions. The Company adopted this update prospectively during the first quarter of 2022 and it did not have a material impact on the Company's consolidated financial statements. Recently issued accounting pronouncements ASUs recently issued were assessed and determined to be either not applicable or are expected to have minimal impact on its consolidated financial position or results of operations.
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. The Company records cash, 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 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.

ACQUISITION - RELATED EXPENSES

ACQUISITION - RELATED EXPENSES (Tables)	3 Months Ended
	May 01, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Consideration Transferred and Acquisition Related Expenses	The following table summarizes the acquisition-related expenses recognized: First Quarter 2022 2021 (in thousands) Acquisition-related expenses: Transaction and integration costs $ — $ 496 Acquisition-related compensation — 7,168 $ — $ 7,664 Income tax effects of acquisition-related expenses $ — $ (372)

STOCK-BASED COMPENSATION AND _2

STOCK-BASED COMPENSATION AND BENEFIT PLANS (Tables)	3 Months Ended
	May 01, 2022
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 May 1, 2022, and changes during the first quarter then ended, is presented below: Stock Options Performance-Based Restricted Stock Units Restricted Shares Restricted Stock Units Number Weighted-Average Exercise Price Number Weighted-Average Grant Date Fair Value Number Weighted-Average Grant Date Fair Value Number Weighted-Average Grant Date Fair Value (In thousands, except per share amounts) Balance as of January 30, 2022 789 $ 186.10 167 $ 225.27 4 $ 326.70 238 $ 265.90 Granted 172 376.92 114 273.49 — — 93 376.92 Exercised/released 36 142.09 114 170.04 — — 89 214.60 Forfeited/expired 5 261.38 2 304.24 — — 4 317.78 Balance as of May 1, 2022 920 $ 223.21 165 $ 295.62 4 $ 326.70 238 $ 327.25 Exercisable as of May 1, 2022 415 $ 152.79
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 quarter of 2022: First Quarter 2022 Expected term 3.75 years Expected volatility 40.00 % Risk-free interest rate 2.51 % Dividend yield — %

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	3 Months Ended
	May 01, 2022
Fair Value Disclosures [Abstract]
Fair Value, Assets and Liabilities Measured on Recurring Basis	As of May 1, 2022 and January 30, 2022, the Company held certain assets and liabilities that are required to be measured at fair value on a recurring basis: May 1, 2022 Level 1 Level 2 Level 3 Balance Sheet Classification (In thousands) Money market funds $ 200,316 $ 200,316 $ — $ — Cash and cash equivalents Term deposits 136,127 — 136,127 — Cash and cash equivalents Forward currency contract assets 21,722 — 21,722 — Prepaid expenses and other current assets Forward currency contract liabilities 15,353 — 15,353 — Other current liabilities January 30, 2022 Level 1 Level 2 Level 3 Balance Sheet Classification (In thousands) Money market funds $ 38,475 $ 38,475 $ — $ — Cash and cash equivalents Term deposits 318,698 — 318,698 — Cash and cash equivalents Forward currency contract assets 19,077 — 19,077 — Prepaid expenses and other current assets Forward currency contract liabilities 18,985 — 18,985 — Other current liabilities

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	May 01, 2022
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: May 1, 2022 January 30, 2022 Gross Notional Assets Liabilities Gross Notional Assets Liabilities (In thousands) Derivatives designated as net investment hedges: Forward currency contracts $ 1,081,000 $ 15,290 $ — $ 1,502,000 $ 18,468 $ — Derivatives not designated in a hedging relationship: Forward currency contracts 1,195,495 6,432 15,353 1,597,878 609 18,985 Net derivatives recognized on consolidated balance sheets: Forward currency contracts $ 21,722 $ 15,353 $ 19,077 $ 18,985
Schedule of Pre-tax Gains (Losses) on Derivatives in Accumulated Other Comprehensive Income (Loss)	The pre-tax gains and losses on foreign currency exchange forward contracts recorded in accumulated other comprehensive income or loss were as follows: First Quarter 2022 2021 (In thousands) Gains (losses) recognized in net investment hedge gains (losses): Derivatives designated as net investment hedges $ 6,847 $ (31,986)
Schedule of Derivative Gains and Losses	The pre-tax net foreign currency exchange and derivative gains and losses recorded in the consolidated statement of operations were as follows: First Quarter 2022 2021 (In thousands) Gains (losses) recognized in selling, general and administrative expenses: Foreign currency exchange gains (losses) $ (1,743) $ (33,540) Derivatives not designated in a hedging relationship (892) 30,592 Net foreign currency exchange and derivative gains (losses) $ (2,635) $ (2,948)

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	May 01, 2022
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earning Per Share	The details of the computation of basic and diluted earnings per share are as follows: First Quarter 2022 2021 (In thousands, except per share amounts) Net income $ 189,998 $ 144,956 Basic weighted-average number of shares outstanding 128,077 130,358 Assumed conversion of dilutive stock options and awards 464 626 Diluted weighted-average number of shares outstanding 128,541 130,984 Basic earnings per share $ 1.48 $ 1.11 Diluted earnings per share $ 1.48 $ 1.11

SUPPLEMENTARY FINANCIAL INFOR_2

SUPPLEMENTARY FINANCIAL INFORMATION (Tables)	3 Months Ended
	May 01, 2022
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: May 1, January 30, (In thousands) Inventories: Inventories, at cost $ 1,326,659 $ 1,004,526 Provision to reduce inventories to net realizable value (51,619) (38,045) $ 1,275,040 $ 966,481 Prepaid expenses and other current assets: Prepaid inventories $ — $ 42,691 Other prepaid expenses 117,707 98,254 Forward currency contract assets 21,722 19,077 Other current assets 45,083 32,550 $ 184,512 $ 192,572 Property and equipment, net: Land $ 70,353 $ 74,297 Buildings 27,764 30,880 Leasehold improvements 709,800 676,762 Furniture and fixtures 132,111 125,213 Computer hardware 136,399 130,393 Computer software 615,290 532,819 Equipment and vehicles 27,567 23,060 Work in progress 126,151 163,420 Property and equipment, gross 1,845,435 1,756,844 Accumulated depreciation (870,651) (829,134) $ 974,784 $ 927,710 Other non-current assets: Cloud computing arrangement implementation costs $ 94,765 $ 89,334 Security deposits 23,968 24,083 Other 18,427 18,685 $ 137,160 $ 132,102 Accrued liabilities and other: Accrued operating expenses $ 116,638 $ 116,822 Accrued freight 73,192 71,390 Sales return allowances 47,838 41,690 Accrued duty 28,121 27,182 Forward currency contract liabilities 15,353 18,985 Sales tax collected 15,131 13,540 Accrued rent 12,446 11,254 Accrued capital expenditures 15,949 9,616 Accrued inventory liabilities 21,965 4,005 Other 16,305 16,316 $ 362,938 $ 330,800

SEGMENTED INFORMATION (Tables)

SEGMENTED INFORMATION (Tables)	3 Months Ended
	May 01, 2022
Segment Reporting [Abstract]
Schedule of Detailed Segmented Information	First Quarter 2022 2021 (In thousands) Net revenue: Company-operated stores $ 731,604 $ 536,584 Direct to consumer 721,253 545,089 Other 160,606 144,792 $ 1,613,463 $ 1,226,465 Segmented income from operations: Company-operated stores $ 160,706 $ 99,148 Direct to consumer 285,107 236,933 Other 19,527 14,506 465,340 350,587 General corporate expense 202,798 146,907 Amortization of intangible assets 2,195 2,195 Acquisition-related expenses — 7,664 Income from operations 260,347 193,821 Other income (expense), net (22) 227 Income before income tax expense $ 260,325 $ 194,048 Capital expenditures: Company-operated stores $ 24,946 $ 18,565 Direct to consumer 20,339 26,581 Corporate and other 66,067 19,079 $ 111,352 $ 64,225 Depreciation and amortization: Company-operated stores $ 31,310 $ 26,800 Direct to consumer 8,669 5,748 Corporate and other 24,491 17,937 $ 64,470 $ 50,485 The following table disaggregates the Company's net revenue by geographic area. First Quarter 2022 2021 (In thousands) United States $ 1,098,329 $ 849,614 Canada 244,944 167,729 Outside of North America 270,190 209,122 $ 1,613,463 $ 1,226,465 In addition to the disaggregation of net revenue by reportable segment, the following table disaggregates the Company's net revenue by category. First Quarter 2022 2021 (In thousands) Women's product $ 1,073,924 $ 849,645 Men's product 374,998 274,307 Other categories 164,541 102,513 $ 1,613,463 $ 1,226,465

NET REVENUE BY GEOGRAPHY AND _2

NET REVENUE BY GEOGRAPHY AND CATEGORY (Tables)	3 Months Ended
	May 01, 2022
Segment Reporting [Abstract]
Schedule of Detailed Segmented Information	First Quarter 2022 2021 (In thousands) Net revenue: Company-operated stores $ 731,604 $ 536,584 Direct to consumer 721,253 545,089 Other 160,606 144,792 $ 1,613,463 $ 1,226,465 Segmented income from operations: Company-operated stores $ 160,706 $ 99,148 Direct to consumer 285,107 236,933 Other 19,527 14,506 465,340 350,587 General corporate expense 202,798 146,907 Amortization of intangible assets 2,195 2,195 Acquisition-related expenses — 7,664 Income from operations 260,347 193,821 Other income (expense), net (22) 227 Income before income tax expense $ 260,325 $ 194,048 Capital expenditures: Company-operated stores $ 24,946 $ 18,565 Direct to consumer 20,339 26,581 Corporate and other 66,067 19,079 $ 111,352 $ 64,225 Depreciation and amortization: Company-operated stores $ 31,310 $ 26,800 Direct to consumer 8,669 5,748 Corporate and other 24,491 17,937 $ 64,470 $ 50,485 The following table disaggregates the Company's net revenue by geographic area. First Quarter 2022 2021 (In thousands) United States $ 1,098,329 $ 849,614 Canada 244,944 167,729 Outside of North America 270,190 209,122 $ 1,613,463 $ 1,226,465 In addition to the disaggregation of net revenue by reportable segment, the following table disaggregates the Company's net revenue by category. First Quarter 2022 2021 (In thousands) Women's product $ 1,073,924 $ 849,645 Men's product 374,998 274,307 Other categories 164,541 102,513 $ 1,613,463 $ 1,226,465

NATURE OF OPERATIONS AND BASI_3

NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Details) - location	May 01, 2022	Jan. 30, 2022
Accounting Policies [Abstract]
Number of company-operated stores in operation	579	574

ACQUISITION - RELATED EXPENSE_2

ACQUISITION - RELATED EXPENSES - Schedule of Acquisition Related Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	May 01, 2022	May 02, 2021
Acquisition-related expenses:
Transaction and integration costs	$ 0	$ 496
Acquisition-related compensation	0	7,168
Acquisition-related expenses	0	7,664
Income tax effects of acquisition-related expenses	$ 0	$ (372)

REVOLVING CREDIT FACILITIES - N

REVOLVING CREDIT FACILITIES - Narrative (Details)	Dec. 14, 2021USD ($)	Dec. 31, 2019USD ($)	May 01, 2022USD ($)	May 01, 2022CNY (¥)	Jan. 31, 2021USD ($)	Jan. 31, 2021CNY (¥)	Dec. 31, 2019CNY (¥)
Line of Credit Facility [Line Items]
Revolving credit facilities borrowing limit					$ 34,800,000	¥ 230,000,000
Letters of credit			$ 3,100,000
Other borrowings			$ 0
Rent adjusted leverage ratio			3.25	3.25
EBITDAR to interest charges ratio			2	2
Short-term debt			$ 0
Revolving Credit Facility
Line of Credit Facility [Line Items]
Revolving credit facilities borrowing limit		$ 19,700,000					¥ 130,000,000
Debt instrument, term		12 months
Revolving Credit Facility | Prime Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate		0.5175%
Revolving Credit Facility | Line of Credit
Line of Credit Facility [Line Items]
Revolving credit facilities borrowing limit	$ 400,000,000
Debt instrument, term	5 years
Sustainability rate adjustment drawn pricing			0.025%
Sustainability rate adjustment undrawn pricing			0.005%
Revolving Credit Facility | Line of Credit | Minimum
Line of Credit Facility [Line Items]
Commitment fee percentage on unused amounts			0.10%
Revolving Credit Facility | Line of Credit | Maximum
Line of Credit Facility [Line Items]
Commitment fee percentage on unused amounts			0.20%
Revolving Credit Facility | Line of Credit | LIBOR | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate			1.00%
Revolving Credit Facility | Line of Credit | LIBOR | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate			1.375%
Revolving Credit Facility | Line of Credit | Base Rate | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate			0.00%
Revolving Credit Facility | Line of Credit | Base Rate | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate			0.375%
Revolving Loan
Line of Credit Facility [Line Items]
Revolving credit facilities borrowing limit		$ 30,300,000					200,000,000
Financial Bank Guarantee Facility
Line of Credit Facility [Line Items]
Revolving credit facilities borrowing limit		$ 4,500,000					¥ 30,000,000
Letter of Credit
Line of Credit Facility [Line Items]
Letters of credit			$ 900,000	¥ 6,100,000

STOCK-BASED COMPENSATION AND _3

STOCK-BASED COMPENSATION AND BENEFIT PLANS - Narrative (Details) $ in Millions	3 Months Ended
	May 01, 2022USD ($)shares	May 02, 2021USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 18.2	$ 16.2
Total unrecognized compensation cost	$ 170
Expected weighted-average period of compensation cost	2 years 6 months
Common stock per performance share unit (in shares)	2
Company match contribution	33.33%
Shares purchased under ESPP (in shares) | shares	21,600
Vesting period	2 years
Company contributions	$ 3.4	$ 2.8
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%
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum shares available under ESPP (in shares) | shares	6,000,000

STOCK-BASED COMPENSATION AND _4

STOCK-BASED COMPENSATION AND BENEFIT PLANS - Summary of Company's Stock Option, Performance Share Unit and Restricted Share Activity (Details) shares in Thousands	3 Months Ended
	May 01, 2022$ / sharesshares
Stock Options
Number of Stock Options
Beginning balance (in shares) | shares	789
Granted (in shares) | shares	172
Exercised/released (in shares) | shares	36
Forfeited/expired (in shares) | shares	5
Ending balance (in shares) | shares	920
Number of stock options, exercisable at end of period (in shares) | shares	415
Weighted-Average Exercise Price of Stock Options
Beginning balance (in dollars per share) | $ / shares	$ 186.10
Granted (in dollars per share) | $ / shares	376.92
Exercised/released (in dollars per share) | $ / shares	142.09
Forfeited/expired (in dollars per share) | $ / shares	261.38
Ending balance (in dollars per share) | $ / shares	223.21
Weighted-average exercise price, options, exercisable at end of period (in dollars per share) | $ / shares	$ 152.79
Performance-Based Restricted Stock Units
Number of Performance-Based Restricted Stock Units and Restricted Shares
Beginning balance (in shares) | shares	167
Granted (in shares) | shares	114
Exercised/released (in shares) | shares	114
Forfeited/expired (in shares) | shares	2
Ending balance (in shares) | shares	165
Weighted-Average Grant Date Fair Value
Beginning balance (in dollars per share) | $ / shares	$ 225.27
Granted (in dollars per share) | $ / shares	273.49
Exercised/released (in dollars per share) | $ / shares	170.04
Forfeited/expired (in dollars per share) | $ / shares	304.24
Ending balance (in dollars per share) | $ / shares	$ 295.62
Restricted Shares
Number of Performance-Based Restricted Stock Units and Restricted Shares
Beginning balance (in shares) | shares	4
Granted (in shares) | shares	0
Exercised/released (in shares) | shares	0
Forfeited/expired (in shares) | shares	0
Ending balance (in shares) | shares	4
Weighted-Average Grant Date Fair Value
Beginning balance (in dollars per share) | $ / shares	$ 326.70
Granted (in dollars per share) | $ / shares	0
Exercised/released (in dollars per share) | $ / shares	0
Forfeited/expired (in dollars per share) | $ / shares	0
Ending balance (in dollars per share) | $ / shares	$ 326.70
Restricted Stock Units
Number of Performance-Based Restricted Stock Units and Restricted Shares
Beginning balance (in shares) | shares	238
Granted (in shares) | shares	93
Exercised/released (in shares) | shares	89
Forfeited/expired (in shares) | shares	4
Ending balance (in shares) | shares	238
Weighted-Average Grant Date Fair Value
Beginning balance (in dollars per share) | $ / shares	$ 265.90
Granted (in dollars per share) | $ / shares	376.92
Exercised/released (in dollars per share) | $ / shares	214.60
Forfeited/expired (in dollars per share) | $ / shares	317.78
Ending balance (in dollars per share) | $ / shares	$ 327.25

STOCK-BASED COMPENSATION AND _5

STOCK-BASED COMPENSATION AND BENEFIT PLANS - Fair Value Assumptions (Details)	3 Months Ended
	May 01, 2022
Share-Based Payment Arrangement [Abstract]
Expected term	3 years 9 months
Expected volatility	40.00%
Risk-free interest rate	2.51%
Dividend yield	0.00%

FAIR VALUE MEASUREMENT - Assets

FAIR VALUE MEASUREMENT - Assets and Liabilities (Details) - USD ($) $ in Thousands	May 01, 2022	Jan. 30, 2022
Cash and cash equivalents | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 200,316	$ 38,475
Cash and cash equivalents | Term deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	136,127	318,698
Cash and cash equivalents | Level 1 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	200,316	38,475
Cash and cash equivalents | Level 1 | Term deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Cash and cash equivalents | Level 2 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Cash and cash equivalents | Level 2 | Term deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	136,127	318,698
Cash and cash equivalents | Level 3 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Cash and cash equivalents | Level 3 | Term deposits
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	21,722	19,077
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	21,722	19,077
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	15,353	18,985
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	15,353	18,985
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
	May 01, 2022	May 02, 2021	Jan. 30, 2022
Derivatives, Fair Value [Line Items]
Assets	$ 21,700
Liabilities	15,400
Forward currency contracts
Derivatives, Fair Value [Line Items]
Assets	21,722		$ 19,077
Liabilities	15,353		18,985
Gains (losses) recognized in selling, general and administrative expenses:
Net foreign currency exchange and derivative gains (losses)	(2,635)	$ (2,948)
Forward currency contracts | Derivatives designated as net investment hedges:
Derivatives, Fair Value [Line Items]
Gross Notional	1,081,000		1,502,000
Assets	15,290		18,468
Liabilities	0		0
Gains (losses) recognized in net investment hedge gains (losses):
Derivatives designated as net investment hedges	6,847	(31,986)
Gains (losses) recognized in selling, general and administrative expenses:
Net foreign currency exchange and derivative gains (losses)	(1,743)	(33,540)
Forward currency contracts | Derivatives not designated in a hedging relationship:
Derivatives, Fair Value [Line Items]
Gross Notional	1,195,495		1,597,878
Assets	6,432		609
Liabilities	15,353		$ 18,985
Gains (losses) recognized in selling, general and administrative expenses:
Net foreign currency exchange and derivative gains (losses)	$ (892)	$ 30,592

EARNINGS PER SHARE - Computatio

EARNINGS PER SHARE - Computation of Basic and Diluted Earning Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	May 01, 2022	May 02, 2021
Earnings Per Share [Abstract]
Net income	$ 189,998	$ 144,956
Basic weighted-average number of shares outstanding (in shares)	128,077	130,358
Assumed conversion of dilutive stock options and awards (in shares)	464	626
Diluted weighted-average number of shares outstanding (in shares)	128,541	130,984
Basic earnings per share (in dollars per share)	$ 1.48	$ 1.11
Diluted earnings per share (in dollars per share)	$ 1.48	$ 1.11

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (Details) - USD ($) shares in Millions	1 Months Ended	3 Months Ended
	May 27, 2022	May 01, 2022	May 02, 2021	Mar. 23, 2022	Oct. 01, 2021	Sep. 30, 2021	Dec. 01, 2020	Nov. 30, 2020	Jan. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive stock options (in shares)		0.1	0.1
Aggregate amount authorized for stock repurchase (up to)				$ 1,000,000,000	$ 641,200,000	$ 141,200,000	$ 500,000,000	$ 263,600,000	$ 500,000,000
Remaining authorized repurchase amount		$ 954,800,000
Repurchase of common stock (in shares)		0.7	0.3
Repurchase of common stock		$ 232,644,000	$ 83,831,000
Subsequent Event
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Repurchase of common stock (in shares)	0.3
Repurchase of common stock	$ 87,900,000

SUPPLEMENTARY FINANCIAL INFOR_3

SUPPLEMENTARY FINANCIAL INFORMATION - Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	May 01, 2022	Jan. 30, 2022
Inventories:
Inventories, at cost	$ 1,326,659	$ 1,004,526
Provision to reduce inventories to net realizable value	(51,619)	(38,045)
Total inventories	1,275,040	966,481
Prepaid expenses and other current assets:
Prepaid inventories	0	42,691
Other prepaid expenses	117,707	98,254
Forward currency contract assets	21,722	19,077
Other current assets	45,083	32,550
Prepaid expenses and other current assets	184,512	192,572
Property and equipment, net:
Land	70,353	74,297
Buildings	27,764	30,880
Leasehold improvements	709,800	676,762
Furniture and fixtures	132,111	125,213
Computer hardware	136,399	130,393
Computer software	615,290	532,819
Equipment and vehicles	27,567	23,060
Work in progress	126,151	163,420
Property and equipment, gross	1,845,435	1,756,844
Accumulated depreciation	(870,651)	(829,134)
Total property and equipment	974,784	927,710
Other non-current assets:
Cloud computing arrangement implementation costs	94,765	89,334
Security deposits	23,968	24,083
Other	18,427	18,685
Total other non-current assets	137,160	132,102
Accrued liabilities and other:
Accrued operating expenses	116,638	116,822
Accrued freight	73,192	71,390
Sales return allowances	47,838	41,690
Accrued duty	28,121	27,182
Forward currency contract liabilities	15,353	18,985
Sales tax collected	15,131	13,540
Accrued rent	12,446	11,254
Accrued capital expenditures	15,949	9,616
Accrued inventory liabilities	21,965	4,005
Other	16,305	16,316
Other accrued liabilities	$ 362,938	$ 330,800

SEGMENTED INFORMATION - Reporta

SEGMENTED INFORMATION - Reportable Segment (Details) $ in Thousands	3 Months Ended
	May 01, 2022USD ($)segment	May 02, 2021USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment	2
Net revenue:
Net revenue	$ 1,613,463	$ 1,226,465
Segmented income from operations:
Segmented income from operations	465,340	350,587
General corporate expense	202,798	146,907
Amortization of intangible assets	2,195	2,195
Acquisition-related expenses	0	7,664
Income from operations	260,347	193,821
Other income (expense), net	(22)	227
Income before income tax expense	260,325	194,048
Capital expenditures:
Capital expenditures	111,352	64,225
Depreciation and amortization:
Depreciation and amortization	64,470	50,485
Corporate and other
Capital expenditures:
Capital expenditures	66,067	19,079
Depreciation and amortization:
Depreciation and amortization	24,491	17,937
Company-operated stores
Net revenue:
Net revenue	731,604	536,584
Segmented income from operations:
Segmented income from operations	160,706	99,148
Company-operated stores | Operating segments
Capital expenditures:
Capital expenditures	24,946	18,565
Depreciation and amortization:
Depreciation and amortization	31,310	26,800
Direct to consumer
Net revenue:
Net revenue	721,253	545,089
Segmented income from operations:
Segmented income from operations	285,107	236,933
Direct to consumer | Operating segments
Capital expenditures:
Capital expenditures	20,339	26,581
Depreciation and amortization:
Depreciation and amortization	8,669	5,748
Other
Net revenue:
Net revenue	160,606	144,792
Segmented income from operations:
Segmented income from operations	$ 19,527	$ 14,506

NET REVENUE BY GEOGRAPHY AND _3

NET REVENUE BY GEOGRAPHY AND CATEGORY - Geographical Area (Details) - USD ($) $ in Thousands	3 Months Ended
	May 01, 2022	May 02, 2021
Revenue, Major Customer [Line Items]
Net revenue	$ 1,613,463	$ 1,226,465
Women's product
Revenue, Major Customer [Line Items]
Revenue	1,073,924	849,645
Men's product
Revenue, Major Customer [Line Items]
Revenue	374,998	274,307
Other categories
Revenue, Major Customer [Line Items]
Revenue	164,541	102,513
United States
Revenue, Major Customer [Line Items]
Revenue	1,098,329	849,614
Canada
Revenue, Major Customer [Line Items]
Revenue	244,944	167,729
Outside of North America
Revenue, Major Customer [Line Items]
Revenue	$ 270,190	$ 209,122

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) - Building - USD ($) $ in Millions	May 02, 2022	May 01, 2022
Subsequent Event
Subsequent Event [Line Items]
Gain on sale of building	$ 10.2
Disposal Group, Held-for-sale, Not Discontinued Operations
Subsequent Event [Line Items]
Building held for sale		$ 5.4