Chewy (CHWY) 10-Q 17 Sep 19 2019 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Aug. 04, 2019	Sep. 10, 2019
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Period End Date	Aug. 4, 2019
Document Transition Report	false
Entity File Number	001-38936
Entity Registrant Name	CHEWY, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	90-1020167
Entity Address, Address Line One	1855 Griffin Road, Suite B-428
Entity Address, City or Town	Dania Beach
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33004
City Area Code	786
Local Phone Number	320-7111
Title of 12(b) Security	Class A Common Stock, par value $0.01 per share
Trading Symbol	CHWY
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Fiscal Period Focus	Q2
Fiscal Year Focus	2019
Entity Central Index Key	0001766502
Current Fiscal Year End Date	--02-02
Class A Common Stock, $0.01 par value per share
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		53,475,000
Class B Common Stock, $0.01 par value per share
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		345,125,000

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Aug. 04, 2019	Feb. 03, 2019
Current assets:
Cash and cash equivalents	$ 150,844	$ 88,331
Accounts receivable	59,995	48,738
Inventories	288,155	220,855
Due from Parent, net	2,088	78,712
Prepaid expenses and other current assets	29,939	11,949
Total current assets	531,021	448,585
Property and equipment, net	98,411	91,691
Operating lease right-of-use assets	181,053
Other non-current assets	3,449	1,346
Total assets	813,934	541,622
Current liabilities:
Trade accounts payable	556,907	502,880
Accrued expenses and other current liabilities	381,983	311,150
Total current liabilities	938,890	814,030
Operating lease liabilities	202,923
Other long-term liabilities	33,854	63,534
Total liabilities	1,175,667	877,564
Commitments and contingencies (Note 4)
Stockholders’ deficit:
Preferred stock, $0.01 par value per share, 5,000,000 shares authorized, no shares issued and outstanding as of August 4, 2019; no shares authorized, issued or outstanding as of February 3, 2019	0	0
Additional paid-in capital	1,338,813	1,256,160
Accumulated deficit	(1,704,532)	(1,592,102)
Total stockholders’ deficit	(361,733)	(335,942)
Total liabilities and stockholders’ deficit	813,934	541,622
Class A common stock, $0.01 par value per share, 1,500,000,000 shares authorized, 53,475,000 shares issued and outstanding as of August 4, 2019; no shares authorized, issued or outstanding as of February 3, 2019
Stockholders’ deficit:
Common stock value	535	0
Class B common stock, $0.01 par value per share, 395,000,000 shares authorized, 345,125,000 shares issued and outstanding as of August 4, 2019; no shares authorized, issued or outstanding as of February 3, 2019
Stockholders’ deficit:
Common stock value	3,451	0
Voting common stock, $0.01 par value per share, no shares authorized, issued or outstanding as of August 4, 2019; 1,000 shares authorized, 100 shares issued and outstanding as of February 3, 2019
Stockholders’ deficit:
Common stock value	$ 0	$ 0

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Aug. 04, 2019	Feb. 03, 2019
Preferred stock par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock authorized (in shares)	5,000,000	0
Preferred stock issued (in shares)	0	0
Preferred stock outstanding (in shares)	0	0
Class A common stock, $0.01 par value per share, 1,500,000,000 shares authorized, 53,475,000 shares issued and outstanding as of August 4, 2019; no shares authorized, issued or outstanding as of February 3, 2019
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock authorized (in shares)	1,500,000,000	0
Common stock issued (in shares)	53,475,000	0
Common stock outstanding (in shares)	53,475,000	0
Class B common stock, $0.01 par value per share, 395,000,000 shares authorized, 345,125,000 shares issued and outstanding as of August 4, 2019; no shares authorized, issued or outstanding as of February 3, 2019
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock authorized (in shares)	395,000,000	0
Common stock issued (in shares)	345,125,000	0
Common stock outstanding (in shares)	345,125,000	0
Voting common stock, $0.01 par value per share, no shares authorized, issued or outstanding as of August 4, 2019; 1,000 shares authorized, 100 shares issued and outstanding as of February 3, 2019
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock authorized (in shares)	0	1,000
Common stock issued (in shares)	0	100
Common stock outstanding (in shares)	0	100

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 04, 2019	Jul. 29, 2018	Aug. 04, 2019	Jul. 29, 2018
Income Statement [Abstract]
Net sales	$ 1,153,545	$ 805,587	$ 2,262,417	$ 1,569,049
Cost of goods sold	881,310	639,712	1,736,292	1,253,185
Gross profit	272,235	165,875	526,125	315,864
Operating expenses:
Selling, general and administrative	244,563	139,747	426,460	262,900
Advertising and marketing	110,752	89,263	213,015	175,924
Total operating expenses	355,315	229,010	639,475	438,824
Loss from operations	(83,080)	(63,135)	(113,350)	(122,960)
Interest income, net	204	21	920	31
Loss before income tax provision	(82,876)	(63,114)	(112,430)	(122,929)
Income tax provision	0	0	0	0
Net loss	$ (82,876)	$ (63,114)	$ (112,430)	$ (122,929)
Net loss per share attributable to common Class A and Class B stockholders, basic and diluted (in dollars per share)	$ (0.21)	$ (0.16)	$ (0.28)	$ (0.31)
Weighted average common shares used in computing net loss per share attributable to common Class A and Class B stockholders, basic and diluted (in shares)	397,387	393,000	395,193	393,000

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT - USD ($) $ in Thousands	Total	Class A and Class B Common Stock	Additional Paid-in Capital	Accumulated Deficit
Beginning balance (in shares) at Jan. 28, 2018		0
Beginning balance at Jan. 28, 2018	$ (83,703)	$ 0	$ 1,240,509	$ (1,324,212)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense	7,318		7,318
Contribution from Parent	650		650
Net loss	(122,929)			(122,929)
Ending balance (in shares) at Jul. 29, 2018		0
Ending balance at Jul. 29, 2018	(198,664)	$ 0	1,248,477	(1,447,141)
Beginning balance (in shares) at Apr. 29, 2018		0
Beginning balance at Apr. 29, 2018	(139,920)	$ 0	1,244,107	(1,384,027)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense	4,045		4,045
Contribution from Parent	325		325
Net loss	(63,114)			(63,114)
Ending balance (in shares) at Jul. 29, 2018		0
Ending balance at Jul. 29, 2018	(198,664)	$ 0	1,248,477	(1,447,141)
Beginning balance (in shares) at Feb. 03, 2019		0
Beginning balance at Feb. 03, 2019	(335,942)	$ 0	1,256,160	(1,592,102)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon initial public offering, net of underwriting discounts, commissions and offering costs (in shares)		5,600,000
Issuance of common stock upon initial public offering, net of underwriting discounts, commissions and offering costs	110,584	$ 56	110,528
Change in capital structure (in shares)		393,000,000
Change in capital structure	0	$ 3,930	(3,930)
Share-based compensation expense	51,013		51,013
Contribution from Parent	650		650
Due from Parent related to tax sharing agreement	3,902		3,902
Termination of loan from Parent	(79,510)		(79,510)
Net loss	(112,430)			(112,430)
Ending balance (in shares) at Aug. 04, 2019		398,600,000
Ending balance at Aug. 04, 2019	(361,733)	$ 3,986	1,338,813	(1,704,532)
Beginning balance (in shares) at May. 05, 2019		0
Beginning balance at May. 05, 2019	(357,941)	$ 0	1,263,715	(1,621,656)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon initial public offering, net of underwriting discounts, commissions and offering costs (in shares)		5,600,000
Issuance of common stock upon initial public offering, net of underwriting discounts, commissions and offering costs	110,584	$ 56	110,528
Change in capital structure (in shares)		393,000,000
Change in capital structure	0	$ 3,930	(3,930)
Share-based compensation expense	43,783		43,783
Contribution from Parent	325		325
Due from Parent related to tax sharing agreement	3,902		3,902
Termination of loan from Parent	(79,510)		(79,510)
Net loss	(82,876)			(82,876)
Ending balance (in shares) at Aug. 04, 2019		398,600,000
Ending balance at Aug. 04, 2019	$ (361,733)	$ 3,986	$ 1,338,813	$ (1,704,532)
Beginning balance (in shares) at Jun. 17, 2019	100

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Aug. 04, 2019	Jul. 29, 2018
Cash flows from operating activities
Net loss	$ (112,430)	$ (122,929)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	14,579	10,075
Share-based compensation expense	51,013	7,318
Non-cash lease expense	8,964
Amortization of deferred rent		5,019
Other	2,002	166
Net change in operating assets and liabilities:
Accounts receivable	(11,257)	1,032
Inventories	(67,300)	(32,508)
Prepaid expenses and other current assets	(20,439)	(2,150)
Other non-current assets	(2,002)	797
Trade accounts payable	54,027	61,440
Accrued expenses and other current liabilities	55,536	18,424
Operating lease liabilities	(3,488)
Other long-term liabilities	1,461	4,113
Net cash used in operating activities	(29,334)	(49,203)
Cash flows from investing activities
Capital expenditures	(24,163)	(28,197)
Cash advances provided to Parent	(22,840)	(70,348)
Cash reimbursements of advances provided to Parent	23,858	106,744
Net cash (used in) provided by investing activities	(23,145)	8,199
Cash flows from financing activities
Proceeds from initial public offering, net of underwriting discounts, commissions and offering costs	115,228	0
Payment of debt issuance costs	(781)	0
Contribution from Parent	650	650
Principal repayments of finance lease obligations	(105)
Net cash provided by financing activities	114,992	650
Net increase (decrease) in cash and cash equivalents	62,513	(40,354)
Cash and cash equivalents, as of beginning of period	88,331	68,767
Cash and cash equivalents, as of end of period	150,844	28,413
Supplemental disclosures of non-cash investing and financing activities:
Offering costs included in accrued expenses and other current liabilities	4,644	0
Assets acquired in exchange for new operating lease liabilities	$ 26,776	$ 0

Description of Business and Bas

Description of Business and Basis of Presentation	6 Months Ended
	Aug. 04, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation Description of Business Chewy, Inc. and its wholly-owned subsidiaries (collectively “Chewy” or the “Company”) is a pure play e-commerce business geared toward pet products for dogs, cats, fish, birds, small pets, horses, and reptiles. Chewy serves its customers through its retail website, www.chewy.com, and its mobile applications and focuses on delivering exceptional customer service, a large selection of high-quality pet food, treats and supplies, and pet healthcare products; price, convenience (including Chewy’s Autoship subscription program), fast shipping, and hassle-free returns. PetSmart Acquisition On May 31, 2017, the Company was acquired by PetSmart, Inc. (“PetSmart” or the “Parent”), a leading specialty provider of products, services and solutions for the lifetime needs of pets. This change-in-control event is referred to as the “PetSmart Acquisition”. PetSmart is wholly-owned by a consortium including private investment funds advised by BC Partners, La Caisse de dépôt et placement du Québec, affiliates of GIC Special Investments Pte Ltd, affiliates of StepStone Group LP and funds advised by Longview Asset Management, LLC (collectively, the “Sponsors”), and controlled by affiliates of BC Partners. Initial Public Offering On June 18, 2019 , the Company closed its initial public offering (“IPO”), in which it issued and sold 5.6 million shares of its Class A common stock. The price at IPO was $22.00 per share. The Company received net proceeds of approximately $110.6 million from the IPO after deducting underwriting discounts and commissions of $6.2 million and offering costs. Prior to the completion of the IPO, the Company amended and restated its certificate of incorporation to authorize Class A and Class B common stock and reclassify the 100 outstanding shares of common stock into 393,000,000 shares of Class B common stock. In connection with the IPO, 47,875,000 shares of the Company’s Class B common stock were reclassified into shares of Class A common stock on a one-to-one basis. Upon completion of the IPO, 53,475,000 shares of the Company’s Class A common stock and 345,125,000 shares of Class B common stock were outstanding. The Class A common stock outstanding includes the shares issued in the IPO. Basis of Presentation The accompanying unaudited condensed consolidated financial statements and related notes include the accounts of Chewy, Inc. and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated. The unaudited condensed consolidated financial statements and notes thereto of Chewy, Inc. have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting and, therefore, omit or condense certain footnotes and other information normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) as set forth in the Financial Accounting Standards Board’s (“FASB”) accounting standards codification. In the opinion of management, all adjustments necessary for a fair statement of the financial information, which are of a normal and recurring nature, have been made for the interim periods reported. Results of operations for the quarterly period ended August 4, 2019 are not necessarily indicative of the results for the entire fiscal year. The unaudited condensed consolidated financial statements and notes thereto included in this Quarterly Report on Form 10-Q for the quarterly period ended August 4, 2019 (“10-Q Report”) should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s final prospectus filed with the SEC pursuant to Rule 424(b) under the Securities Act of 1933, as amended, on June 17, 2019 (the “Prospectus”). Fiscal Year The Company has a 52 or 53-week fiscal year ending each year on the Sunday that is closest to January 31 of that year. Each fiscal year generally consists of four 13-week fiscal quarters, with each fiscal quarter ending on the Sunday that is closest to the last day of the last month of the quarter.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Aug. 04, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Other than policies noted within Recent Accounting Pronouncements below, there have been no significant changes from the significant accounting policies disclosed in Note 2 of the “Notes to Consolidated Financial Statements” included in the Prospectus. Use of Estimates GAAP requires management to make certain estimates, judgments, and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, management evaluates these estimates and judgments. Actual results could differ from those estimates. Key estimates relate primarily to determining the net realizable value and demand for inventory, useful lives associated with property and equipment, valuation allowances with respect to deferred tax assets, contingencies and the valuation and assumptions underlying share-based compensation. On an ongoing basis, management evaluates its estimates compared to historical experience and trends, which form the basis for making judgments about the carrying value of assets and liabilities. Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements ASU 2016-02, Leases. In February 2016, the FASB issued this Accounting Standards Update (“ASU”) to provide a comprehensive lease accounting model that requires lessees to recognize lease liabilities and corresponding right-of-use assets for most leases. The new guidance also changes the definition of a lease and requires enhanced disclosures of pertinent quantitative and qualitative information about an entity’s leasing activities. The FASB subsequently issued ASU 2018-10 allowing entities to initially apply ASU 2016-02 at the adoption date and recognize a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption. These ASUs became effective at the beginning of the Company’s 2019 fiscal year. The Company adopted this ASU by applying the new guidance to new and existing leases effective February 4, 2019, with no restatement of comparative periods. The Company elected the package of practical expedients, which permitted the Company to not reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs. The Company also made an accounting policy election to not recognize right-of-use assets and lease liabilities arising from short-term leases on its condensed consolidated balance sheets. The adoption of this ASU did not result in a cumulative effect adjustment to accumulated deficit. Upon adoption, the Company recognized operating lease right-of-use assets of $162.8 million and operating lease liabilities of $193.6 million . The adoption of this new guidance did not have a material net impact on the Company’s condensed consolidated statements of operations or condensed consolidated statements of cash flows. The Company has operating and finance lease agreements for its fulfillment and customer service centers, corporate offices, and certain equipment. The Company determines if an arrangement contains a lease at inception based on the ability to control a physically distinct asset. Operating and finance lease right-of-use assets are recorded in the condensed consolidated balance sheets based on the initial measurement of the lease liability as adjusted to include prepaid rent and initial direct costs less any lease incentives received. Lease liabilities are measured at the commencement date based on the present value of the lease payments over the lease term. Lease payments are generally fixed but may include provisions for future rent increases based on a market index. The Company separately accounts for lease and non-lease components within lease agreements; the non-lease components primarily relate to common area maintenance for real estate leases. The Company uses its incremental borrowing rate to present value the lease liability as key inputs to determine the interest rate implicit in the lease are not shared by lessors. Operating lease expense is recorded on a straight-line basis over the lease term. Right-of-use assets and lease liabilities for short-term leases are not recognized in the condensed consolidated balance sheets. Payments for short-term leases are recognized in the condensed consolidated statements of operations on a straight-line basis over the lease term. ASU 2018-07, Stock Compensation; Improvements to Nonemployee Share-Based Payment Accounting . In June 2018, the FASB issued this ASU to expand the scope of Topic 718, Compensation-Stock Compensation to include share-based payment awards to be issued to non-employees in exchange for acquiring goods and services. The ASU aligned the accounting for awards issued to non-employees to be similar to employee awards. This update became effective at the beginning of the Company’s 2019 fiscal year. The adoption of this ASU did not have a material impact on the Company’s condensed consolidated financial statements and disclosures. Recently Issued Accounting Pronouncements ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement. In August 2018, the FASB issued this ASU to align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. This update is effective at the beginning of the Company’s 2020 fiscal year. The Company does not believe the adoption of this new guidance will have a material impact on its consolidated financial statements and disclosures.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	6 Months Ended
	Aug. 04, 2019
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	Accrued Expenses and Other Current Liabilities The following table presents the components of accrued expenses and other current liabilities (in thousands): As of August 4, 2019 February 3, 2019 Outbound fulfillment $ 175,319 $ 147,610 Advertising and marketing 92,091 85,421 Accrued expenses and other 114,573 78,119 Total accrued expenses and other current liabilities $ 381,983 $ 311,150

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Aug. 04, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies As of August 4, 2019 , there were no material changes to the Company’s advertising and services purchase commitments and legal matters disclosed in Note 5 of the “Notes to Consolidated Financial Statements” included in the Prospectus.

Debt

Debt	6 Months Ended
	Aug. 04, 2019
Debt Disclosure [Abstract]
Debt	Debt ABL Credit Facility On June 18, 2019 , the Company entered into a new five -year senior secured asset-backed credit facility (the “ABL Credit Facility”) which provides for non-amortizing revolving loans in an aggregate principal amount of up to $300 million , subject to a borrowing base comprised of, among other things, inventory and sales receivables (subject to certain reserves). The ABL Credit Facility provides the right to request incremental commitments and add incremental asset-based revolving loan facilities in an aggregate principal amount of up to $100 million , subject to customary conditions. Borrowings under the ABL Credit Facility bear interest at a rate per annum equal to an applicable margin, plus, at the Company’s option, either a base rate or a LIBOR rate. The applicable margin is generally determined based on the average excess liquidity during the immediately preceding fiscal quarter as a percentage of the maximum borrowing amount under the ABL Credit Facility, and is between 0.25% and 0.75% for base rate loans and between 1.25% and 1.75% for LIBOR loans. The Company is also required to a pay commitment fee of between 0.25% and 0.375% with respect to the undrawn portion of the commitments, which is generally based on average daily usage of the facility. All obligations under the ABL Credit Facility are guaranteed on a senior secured first-lien basis by the Company’s wholly-owned domestic subsidiaries, subject to certain exceptions, and secured, subject to permitted liens and other exceptions, by a perfected first-priority security interest in substantially all of the Company’s and its wholly-owned domestic subsidiaries’ assets. The ABL Credit Facility contains a number of covenants that, among other things, restrict the Company’s and its restricted subsidiaries’ ability to: • incur or guarantee additional debt and issue certain equity securities; • make certain investments and acquisitions; • make certain restricted payments and payments of certain indebtedness; • incur certain liens or permit them to exist; • enter into certain types of transactions with affiliates; • merge or consolidate with another company; and • transfer, sell or otherwise dispose of assets. Each of these restrictions is subject to various exceptions. In addition, the ABL Credit Facility requires the Company to maintain a minimum fixed charge coverage ratio of 1.0 : 1.0 if excess availability under the facility is less than the greater of 10% of the maximum borrowing amount and $30.0 million for a certain period of time. The ABL Credit Facility also contains certain customary affirmative covenants and events of default for facilities of this type, including an event of default upon a change in control. As of August 4, 2019 , the Company had no

Leases

Leases	6 Months Ended
	Aug. 04, 2019
Leases [Abstract]
Leases	Leases The Company leases all of its fulfillment and customer service centers and corporate offices under non-cancelable operating lease agreements. The terms of the Company’s real estate leases generally range from 5 to 15 years and typically allow for the leases to be renewed for up to three additional five -year terms. Fulfillment and customer service centers and corporate office leases, including exercised renewal options, expire at various dates through 2031. The Company also leases certain equipment under operating and finance leases. The terms of equipment leases generally range from 3 to 5 years and do not contain renewal options. These leases expire at various dates through 2024. The Company’s finance leases as of August 4, 2019 were not material. The table below presents the operating lease-related assets and liabilities recorded on the condensed consolidated balance sheets (in thousands): Leases Balance Sheet Classification As of August 4, 2019 Assets Operating Operating lease right-of-use assets $ 181,053 Total operating lease assets $ 181,053 Liabilities Current Operating Accrued expenses and other current liabilities $ 13,781 Non-current Operating Operating lease liabilities 202,923 Total operating lease liabilities $ 216,704 Lease expense primarily related to operating lease costs. Lease expense for the thirteen and twenty-six weeks ended August 4, 2019 was $11.9 million and $22.9 million , respectively, of which short-term and variable lease payments were $1.8 million and $4.0 million , respectively, and were included within selling, general and administrative expenses in the condensed consolidated statements of operations. As of August 4, 2019 , the weighted-average remaining lease term and weighted-average discount rate for operating leases was 11.8 years and 11.3% , respectively. Operating cash flows related to cash paid for operating leases were approximately $17.3 million for the twenty-six weeks ended August 4, 2019 . The table below presents the maturity of lease liabilities as of August 4, 2019 (in thousands): Operating Leases Remainder of 2019 $ 16,733 2020 38,090 2021 36,766 2022 34,525 2023 30,041 Thereafter 259,764 Total lease payments 415,919 Less: interest 199,215 Present value of lease liabilities $ 216,704 The table above includes all locations for which the Company had the right to control the use of the property. In addition, as of August 4, 2019 the Company had lease arrangements which had not yet commenced with total future lease payments of approximately $56 million . The lease term for this lease arrangement is approximately 16 years

Capital Stock

Capital Stock	6 Months Ended
	Aug. 04, 2019
Equity [Abstract]
Capital Stock	Capital Stock Common Stock Prior to the completion of the IPO, the Company amended and restated its certificate of incorporation to authorize Class A and Class B common stock and reclassify the 100 outstanding shares of common stock into 393,000,000 shares of Class B common stock. In connection with the IPO, 47,875,000 shares of the Company’s Class B common stock were reclassified into shares of Class A common stock on a one-to-one basis. Upon completion of the IPO, 53,475,000 shares of the Company’s Class A common stock and 345,125,000 shares of Class B common stock were outstanding. Voting Rights Holders of the Company’s Class A and Class B common stock are entitled to vote together as a single class on all matters submitted to a vote or for the consent of the stockholders of the Company, unless otherwise required by law or the Company’s amended and restated certificate of incorporation. Holders of Class A common stock are entitled to one vote per share and holders of Class B common stock are entitled to ten votes per share. Dividends Subject to the preferences applicable to any series of preferred stock, if any, outstanding, holders of Class A and Class B common stock are entitled to share equally, on a per share basis, in dividends and other distributions of cash, property or securities of the Company. Liquidation Subject to the preferences applicable to any series of preferred stock, if any, outstanding, in the event of the voluntary or involuntary liquidation, dissolution, distribution of assets or winding up of the Company, all assets of the Company available for distribution to common stockholders would be divided among and paid ratably to holders of Class A and Class B common stock. Conversion of Class B Common Stock Voluntary Conversion Each share of Class B common stock is convertible into one fully paid and nonassessable share of Class A Common Stock at the option of the holder thereof with the prior written consent of the Company. Automatic Conversion All shares of Class B common stock shall automatically, without further action by any holder, be converted into an identical number of shares of fully paid and nonassessable Class A common stock (i) on the first trading day on or after the date on which the outstanding shares of Class B common stock constitute less than 7.5% of the aggregate number of shares of common stock then outstanding, or (ii) upon the occurrence of an event, specified by the affirmative vote (or written consent) of the holders of a majority of the then-outstanding shares Class B common stock, voting as a separate class. In addition, each share of Class B common stock will convert automatically into one share of Class A common stock (i) upon the sale or transfer of such share of Class B common stock, except for certain transfers described in the Company’s amended and restated certificate of incorporation, including transfers to affiliates of the holder and another holder of Class B common stock, or (ii) if the holder is not an affiliate of any of the Sponsors. Preferred Stock Preferred stock may be issued from time to time by the Company for such consideration as may be fixed by the board of directors. Except as otherwise required by law, holders of any series of Preferred Stock shall be entitled to only such voting rights, if any, as shall expressly be granted by the Company’s amended and restated certificate of incorporation.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Aug. 04, 2019
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation 2019 Omnibus Incentive Plan In June 2019, the Company’s board of directors adopted and approved the 2019 Omnibus Incentive Plan (the “2019 Plan”). The 2019 Plan became effective on June 13, 2019 and allows for the issuance of up to 31,864,865 shares of Class A common stock. No awards may be granted under the 2019 Plan after June 2029. The 2019 Plan provides for the grant of stock options, including incentive stock options, non-qualified stock options, restricted stock, dividend equivalents, stock payments, restricted stock units (“RSUs”), performance shares, other incentive awards, stock appreciation rights, and cash awards (collectively “awards”). The awards may be granted to the Company’s employees, consultants, and directors, and the employees and consultants of the Company’s affiliates and subsidiaries. RSUs In connection with the consummation of the IPO, the Company granted RSUs under the 2019 Plan. Certain of these RSUs vest upon satisfaction of both a service-based vesting condition (the “Service Condition”) and a performance-based vesting condition (the “Share Price Condition”) as described below. The Service Condition will be satisfied with respect to 25% of an employee’s RSUs on the first anniversary of the 2019 Plan’s registration date and then with respect to 12.5% of an employee’s RSUs at the end of each six month period thereafter, subject to the employee’s continued employment with the Company through the applicable vesting date. The Share Price Condition shall be satisfied with respect to a percentage of an employee’s RSUs, as and when the price per share of Class A common stock specified (each, a “Share Price Hurdle”) is achieved, on a volume adjusted weighted-average basis, on every trading day during a consecutive 45 -trading day period completed prior to the fifth anniversary of the 2019 Plan’s effective date subject to the employee’s continued employment with the Company through the applicable vesting date. RSU Activity The following table summarizes the activity related to the Company’s RSUs for the twenty-six weeks ended August 4, 2019 (in thousands, except for weighted average grant date fair value): Number of RSUs Weighted Average Grant Date Fair Value Outstanding as of February 3, 2019 — $ — Granted 25,327 36.85 Vested (2,717 ) 36.85 Forfeited (1,428 ) 36.85 Unvested and outstanding as of August 4, 2019 21,182 $ 36.85 The total fair value of RSUs that vested during the thirteen weeks ended August 4, 2019 was $101.5 million . As of August 4, 2019 , total unrecognized compensation expense related to unvested RSUs was $256.7 million and is expected to be recognized over a weighted-average expected performance period of 2.2 years . The fair value of the RSUs with share price hurdles was determined on the date of grant using a Monte Carlo model to simulate total stockholder return for the Company and peer companies with the following assumptions: Performance period 5 years Weighted-average risk-free interest rate 1.8% Weighted-average volatility 49.7% Weighted-average dividend yield —% The risk-free interest rate utilized is based on a 5-year term-matched zero-coupon U.S. Treasury security yield at the time of grant. Expected volatility is based on historical volatility of the stock of the Company’s peer firms. As of August 4, 2019 , there were 7,965,518 additional shares of Class A common stock reserved for future issuance under the 2019 Plan. Citrus Profits Interest Plan Subsequent to the PetSmart Acquisition, the Company’s share-based compensation included profits interests units (“PIUs”) granted by Citrus Intermediate Holdings L.P. (the “Citrus Partnership”), a Delaware limited partnership (the “Citrus Profits Interest Plan”). The Citrus Partnership is a parent company of PetSmart and a wholly-owned subsidiary of the Sponsors. The Company recognizes share-based compensation as equity contributions from the Citrus Partnership in its condensed consolidated financial statements for awards granted under the Citrus Profits Interest Plan as it relates to grantees’ services as employees of the Company. As of June 13, 2019, an aggregate of 768,785 profits interests units under the Citrus Profits Interest Plan were held by employees of Chewy, Inc. and were canceled. Share-Based Compensation Expense Share-based compensation expense is included within selling, general and administrative expenses in the condensed consolidated statements of operations. The Company recognized share-based compensation expense as follows (in thousands): 13 Weeks Ended 26 Weeks Ended August 4, 2019 July 29, 2018 August 4, 2019 July 29, 2018 RSUs $ 40,848 $ — $ 40,848 $ — PIUs 2,935 4,045 10,165 7,318 Total share-based compensation expense $ 43,783 $ 4,045 $ 51,013 $ 7,318

Income Taxes

Income Taxes	6 Months Ended
	Aug. 04, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Subsequent to the PetSmart Acquisition, the Company’s losses were included with PetSmart’s consolidated U.S. federal and state income tax returns. Income taxes as presented in the Company’s condensed consolidated financial statements have been prepared on the separate return method as if the Company were a taxpayer separate from PetSmart. The Company did not have a net current or deferred provision for income taxes for any taxing jurisdiction during the thirteen and twenty-six weeks ended August 4, 2019 and July 29, 2018 . Concurrent with the IPO, the Company and PetSmart entered into a tax sharing agreement which governs the respective rights, responsibilities, and obligations of the Company and PetSmart with respect to tax matters, including taxes attributable to PetSmart, entitlement to refunds, allocation of tax attributes, preparation of tax returns, certain tax elections, control of tax contests and other tax matters regarding U.S. federal, state, local, and foreign income taxes.

Net Loss per Share

Net Loss per Share	6 Months Ended
	Aug. 04, 2019
Earnings Per Share [Abstract]
Net Loss per Share	Net Loss per Share Basic and diluted net loss per share attributable to common stockholders is presented using the two class method required for participating securities. Under the two class method, net loss attributable to common stockholders is determined by allocating undistributed earnings between common stock and participating securities. Undistributed earnings for the periods presented are calculated as net loss less distributed earnings. Basic and diluted net loss per share is calculated by dividing net loss attributable to common stockholders by the weighted-average shares outstanding during the period. The weighted-average shares outstanding during the periods presented reflects the reclassification of the 100 outstanding shares of common stock into 393,000,000 shares of Class B common stock. For the thirteen and twenty-six weeks ended August 4, 2019 and July 29, 2018

Certain Relationships and Relat

Certain Relationships and Related Party Transactions	6 Months Ended
	Aug. 04, 2019
Related Party Transactions [Abstract]
Certain Relationships and Related Party Transactions	Certain Relationships and Related Party Transactions The Company’s condensed consolidated financial statements include management fee expenses of $0.3 million and $0.7 million allocated to the Company by the Sponsors and the Parent for organizational oversight and certain limited corporate functions for the thirteen and twenty-six weeks ended August 4, 2019 and July 29, 2018 , respectively. Allocated costs are included within selling, general and administrative expenses in the condensed consolidated statements of operations. From time to time, prior to the completion of the IPO, the Company used funding from or provided funding to the Parent, as needed, in the normal course of business. The Company and PetSmart were parties to an intercompany loan agreement pursuant to which each party made loans from time to time to the other. In connection with the signing of an underwriting agreement pursuant to which the Company received substantially all of the net proceeds from the Company’s sale of shares of Class A common stock as part of the IPO, the loan agreement was terminated without cash repayment of the outstanding loan. The termination of the intercompany loan resulted in a $79.5 million reduction of the Company’s due from Parent balance during the thirteen weeks ended August 4, 2019 . Certain of the Company’s pharmacy operations are currently, and have been since launch on July 2, 2018, conducted through a wholly-owned subsidiary of PetSmart. The Company has entered into a services agreement with PetSmart that provides for the payment of a management fee due from PetSmart with respect to this arrangement. The Company recognized $10.9 million and $21.5 million within net sales in the condensed consolidated statement of operations for the services provided during the thirteen and twenty-six weeks ended August 4, 2019 . The services agreement will remain in place for so long as the Company conducts any pharmacy operations through a PetSmart subsidiary. In connection with the IPO, the Company was released from its obligations under the Parent’s asset-backed revolving credit facility in accordance with its terms. PetSmart Guarantees PetSmart currently provides a guarantee of payment with respect to certain equipment and other leases that the Company has entered into and serves as a guarantor in respect of the Company’s obligations under a credit insurance policy in favor of certain of the Company’s current or future suppliers. The Company has historically not paid PetSmart for any of these guarantees.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies - (Policies)	6 Months Ended
	Aug. 04, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements and related notes include the accounts of Chewy, Inc. and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated. The unaudited condensed consolidated financial statements and notes thereto of Chewy, Inc. have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial reporting and, therefore, omit or condense certain footnotes and other information normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) as set forth in the Financial Accounting Standards Board’s (“FASB”) accounting standards codification. In the opinion of management, all adjustments necessary for a fair statement of the financial information, which are of a normal and recurring nature, have been made for the interim periods reported. Results of operations for the quarterly period ended August 4, 2019 are not necessarily indicative of the results for the entire fiscal year. The unaudited condensed consolidated financial statements and notes thereto included in this Quarterly Report on Form 10-Q for the quarterly period ended August 4, 2019 (“10-Q Report”) should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s final prospectus filed with the SEC pursuant to Rule 424(b) under the Securities Act of 1933, as amended, on June 17, 2019 (the “Prospectus”). Fiscal Year The Company has a 52 or 53-week fiscal year ending each year on the Sunday that is closest to January 31 of that year. Each fiscal year generally consists of four 13-week fiscal quarters, with each fiscal quarter ending on the Sunday that is closest to the last day of the last month of the quarter.
Use of Estimates	Use of Estimates GAAP requires management to make certain estimates, judgments, and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, management evaluates these estimates and judgments. Actual results could differ from those estimates. Key estimates relate primarily to determining the net realizable value and demand for inventory, useful lives associated with property and equipment, valuation allowances with respect to deferred tax assets, contingencies and the valuation and assumptions underlying share-based compensation. On an ongoing basis, management evaluates its estimates compared to historical experience and trends, which form the basis for making judgments about the carrying value of assets and liabilities.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements ASU 2016-02, Leases. In February 2016, the FASB issued this Accounting Standards Update (“ASU”) to provide a comprehensive lease accounting model that requires lessees to recognize lease liabilities and corresponding right-of-use assets for most leases. The new guidance also changes the definition of a lease and requires enhanced disclosures of pertinent quantitative and qualitative information about an entity’s leasing activities. The FASB subsequently issued ASU 2018-10 allowing entities to initially apply ASU 2016-02 at the adoption date and recognize a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption. These ASUs became effective at the beginning of the Company’s 2019 fiscal year. The Company adopted this ASU by applying the new guidance to new and existing leases effective February 4, 2019, with no restatement of comparative periods. The Company elected the package of practical expedients, which permitted the Company to not reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs. The Company also made an accounting policy election to not recognize right-of-use assets and lease liabilities arising from short-term leases on its condensed consolidated balance sheets. The adoption of this ASU did not result in a cumulative effect adjustment to accumulated deficit. Upon adoption, the Company recognized operating lease right-of-use assets of $162.8 million and operating lease liabilities of $193.6 million . The adoption of this new guidance did not have a material net impact on the Company’s condensed consolidated statements of operations or condensed consolidated statements of cash flows. The Company has operating and finance lease agreements for its fulfillment and customer service centers, corporate offices, and certain equipment. The Company determines if an arrangement contains a lease at inception based on the ability to control a physically distinct asset. Operating and finance lease right-of-use assets are recorded in the condensed consolidated balance sheets based on the initial measurement of the lease liability as adjusted to include prepaid rent and initial direct costs less any lease incentives received. Lease liabilities are measured at the commencement date based on the present value of the lease payments over the lease term. Lease payments are generally fixed but may include provisions for future rent increases based on a market index. The Company separately accounts for lease and non-lease components within lease agreements; the non-lease components primarily relate to common area maintenance for real estate leases. The Company uses its incremental borrowing rate to present value the lease liability as key inputs to determine the interest rate implicit in the lease are not shared by lessors. Operating lease expense is recorded on a straight-line basis over the lease term. Right-of-use assets and lease liabilities for short-term leases are not recognized in the condensed consolidated balance sheets. Payments for short-term leases are recognized in the condensed consolidated statements of operations on a straight-line basis over the lease term. ASU 2018-07, Stock Compensation; Improvements to Nonemployee Share-Based Payment Accounting . In June 2018, the FASB issued this ASU to expand the scope of Topic 718, Compensation-Stock Compensation to include share-based payment awards to be issued to non-employees in exchange for acquiring goods and services. The ASU aligned the accounting for awards issued to non-employees to be similar to employee awards. This update became effective at the beginning of the Company’s 2019 fiscal year. The adoption of this ASU did not have a material impact on the Company’s condensed consolidated financial statements and disclosures. Recently Issued Accounting Pronouncements ASU 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement. In August 2018, the FASB issued this ASU to align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. This update is effective at the beginning of the Company’s 2020 fiscal year. The Company does not believe the adoption of this new guidance will have a material impact on its consolidated financial statements and disclosures.

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities - (Tables)	6 Months Ended
	Aug. 04, 2019
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	The following table presents the components of accrued expenses and other current liabilities (in thousands): As of August 4, 2019 February 3, 2019 Outbound fulfillment $ 175,319 $ 147,610 Advertising and marketing 92,091 85,421 Accrued expenses and other 114,573 78,119 Total accrued expenses and other current liabilities $ 381,983 $ 311,150

Leases - (Tables)

Leases - (Tables)	6 Months Ended
	Aug. 04, 2019
Leases [Abstract]
Assets and Liabilities, Lessee	The table below presents the operating lease-related assets and liabilities recorded on the condensed consolidated balance sheets (in thousands): Leases Balance Sheet Classification As of August 4, 2019 Assets Operating Operating lease right-of-use assets $ 181,053 Total operating lease assets $ 181,053 Liabilities Current Operating Accrued expenses and other current liabilities $ 13,781 Non-current Operating Operating lease liabilities 202,923 Total operating lease liabilities $ 216,704
Lessee, Operating Lease, Liability, Maturity	The table below presents the maturity of lease liabilities as of August 4, 2019 (in thousands): Operating Leases Remainder of 2019 $ 16,733 2020 38,090 2021 36,766 2022 34,525 2023 30,041 Thereafter 259,764 Total lease payments 415,919 Less: interest 199,215 Present value of lease liabilities $ 216,704

Share-Based Compensation - (Tab

Share-Based Compensation - (Tables)	6 Months Ended
	Aug. 04, 2019
Share-based Payment Arrangement [Abstract]
Schedule of Nonvested Restricted Stock Units Activity	The following table summarizes the activity related to the Company’s RSUs for the twenty-six weeks ended August 4, 2019 (in thousands, except for weighted average grant date fair value): Number of RSUs Weighted Average Grant Date Fair Value Outstanding as of February 3, 2019 — $ — Granted 25,327 36.85 Vested (2,717 ) 36.85 Forfeited (1,428 ) 36.85 Unvested and outstanding as of August 4, 2019 21,182 $ 36.85
Valuation Assumptions	The fair value of the RSUs with share price hurdles was determined on the date of grant using a Monte Carlo model to simulate total stockholder return for the Company and peer companies with the following assumptions: Performance period 5 years Weighted-average risk-free interest rate 1.8% Weighted-average volatility 49.7% Weighted-average dividend yield —%
Share-based Payment Arrangement, Cost By Plan	Share-based compensation expense is included within selling, general and administrative expenses in the condensed consolidated statements of operations. The Company recognized share-based compensation expense as follows (in thousands): 13 Weeks Ended 26 Weeks Ended August 4, 2019 July 29, 2018 August 4, 2019 July 29, 2018 RSUs $ 40,848 $ — $ 40,848 $ — PIUs 2,935 4,045 10,165 7,318 Total share-based compensation expense $ 43,783 $ 4,045 $ 51,013 $ 7,318

Description of Business and B_2

Description of Business and Basis of Presentation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	Jun. 18, 2019	Jun. 17, 2019	Aug. 04, 2019	Feb. 03, 2019
Subsidiary, Sale of Stock [Line Items]
Underwriting discounts and commissions	$ 6.2
Common stock outstanding (in shares)		100
IPO
Subsidiary, Sale of Stock [Line Items]
Sale of stock (in dollars per share)	$ 22
Sale of stock	$ 110.6
Class A Common Stock, $0.01 par value per share
Subsidiary, Sale of Stock [Line Items]
Common stock outstanding (in shares)	53,475,000		53,475,000	0
Conversion of stock (in shares)	47,875,000
Class A Common Stock, $0.01 par value per share | IPO
Subsidiary, Sale of Stock [Line Items]
Sale of stock (in shares)	5,600,000
Class B Common Stock, $0.01 par value per share
Subsidiary, Sale of Stock [Line Items]
Common stock outstanding (in shares)	345,125,000		345,125,000	0
Conversion of stock (in shares)	(47,875,000)	393,000,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Thousands	Aug. 04, 2019	Feb. 04, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets	$ 181,053
Operating lease liabilities	$ 216,704
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets		$ 162,800
Operating lease liabilities		$ 193,600

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Aug. 04, 2019	Feb. 03, 2019
Payables and Accruals [Abstract]
Outbound fulfillment	$ 175,319	$ 147,610
Advertising and marketing	92,091	85,421
Accrued expenses and other	114,573	78,119
Total accrued expenses and other current liabilities	$ 381,983	$ 311,150

Debt - Narrative (Details)

Debt - Narrative (Details) - Line of Credit - Revolving Credit Facility	Jun. 18, 2019USD ($)	Aug. 04, 2019USD ($)
Line of Credit Facility [Line Items]
Debt instrument term	5 years
Line of credit facility principal	$ 300,000,000
Line of credit facility additional aggregate principal increase limit	$ 100,000,000
Minimum fixed charge coverage ratio	1
Excess availability as percent of maximum borrowing amount	10.00%
Excess availability maximum borrowing amount	$ 30,000,000
Outstanding borrowings		$ 0
Minimum
Line of Credit Facility [Line Items]
Commitment fee percentage	0.25%
Maximum
Line of Credit Facility [Line Items]
Commitment fee percentage	0.375%
Base Rate | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.25%
Base Rate | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.75%
London Interbank Offered Rate (LIBOR) | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.25%
London Interbank Offered Rate (LIBOR) | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.75%

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	3 Months Ended	6 Months Ended
	Aug. 04, 2019USD ($)renewal_option	Aug. 04, 2019USD ($)renewal_option
Lessee, Lease, Description [Line Items]
Lease expense	$ 11.9	$ 22.9
Short-term and variable lease cost	$ 1.8	$ 4
Weighted average remaining lease term	11 years 9 months 18 days	11 years 9 months 18 days
Weighted average discount rate	11.30%	11.30%
Operating lease payments		$ 17.3
Lease not yet commenced minimum lease payments	$ 56	$ 56
Lease not yet commenced term	16 years	16 years
Real Estate
Lessee, Lease, Description [Line Items]
Number of renewal options | renewal_option	3	3
Renewal term	5 years	5 years
Minimum | Real Estate
Lessee, Lease, Description [Line Items]
Lease term	5 years	5 years
Minimum | Equipment
Lessee, Lease, Description [Line Items]
Lease term	3 years	3 years
Maximum | Real Estate
Lessee, Lease, Description [Line Items]
Lease term	15 years	15 years
Maximum | Equipment
Lessee, Lease, Description [Line Items]
Lease term	5 years	5 years

Leases - Schedule of Lease Asse

Leases - Schedule of Lease Assets and Liabilities (Details) $ in Thousands	Aug. 04, 2019USD ($)
Assets
Operating	$ 181,053
Current
Operating	13,781
Non-current
Operating	202,923
Total operating lease liabilities	$ 216,704

Leases - Schedule of Lease Matu

Leases - Schedule of Lease Maturity (Details) $ in Thousands	Aug. 04, 2019USD ($)
Operating Leases
Remainder of 2019	$ 16,733
2020	38,090
2021	36,766
2022	34,525
2023	30,041
Thereafter	259,764
Total lease payments	415,919
Less: interest	199,215
Present value of lease liabilities	$ 216,704

Capital Stock - Narrative (Det

Capital Stock - Narrative (Details)	Jun. 18, 2019shares	Jun. 17, 2019shares	Aug. 04, 2019voteshares	Feb. 03, 2019shares
Class of Stock [Line Items]
Common stock outstanding (in shares)		100
Class B Common Stock, $0.01 par value per share
Class of Stock [Line Items]
Common stock outstanding (in shares)	345,125,000		345,125,000	0
Conversion of stock (in shares)	(47,875,000)	393,000,000
Number of votes per share | vote			10
Percentage of outstanding stock			7.50%
Class A Common Stock, $0.01 par value per share
Class of Stock [Line Items]
Common stock outstanding (in shares)	53,475,000		53,475,000	0
Conversion of stock (in shares)	47,875,000
Number of votes per share | vote			1

Share-Based Compensation - Nar

Share-Based Compensation - Narrative (Details) $ in Millions	Jun. 13, 2019shares	Aug. 04, 2019USD ($)dayshares
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share price hurdle period | day		45
Fair value of vested awards | $		$ 101.5
Cost not yet recognized | $		$ 256.7
Weighted average performance period		2 years 2 months 12 days
Cancelled (in shares)		1,428,000
RSUs | Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights		25.00%
RSUs | Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights		12.50%
RSUs | Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights		12.50%
RSUs | Tranche Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights		12.50%
RSUs | Tranche Five
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights		12.50%
RSUs | Tranche Six
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights		12.50%
RSUs | Tranche Seven
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights		12.50%
PIUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cancelled (in shares)	768,785
Class A Common Stock, $0.01 par value per share
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)		7,965,518
2019 Omnibus Incentive Plan | Class A Common Stock, $0.01 par value per share | Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares allowed for issuance (in shares)	31,864,865

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Restricted Stock Unit Activity (Details) - RSUs shares in Thousands	6 Months Ended
	Aug. 04, 2019$ / sharesshares
Number of RSUs
Beginning balance (in shares) | shares	0
Granted (in shares) | shares	25,327
Vested (in shares) | shares	(2,717)
Forfeited (in shares) | shares	(1,428)
Ending balance (in shares) | shares	21,182
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share) | $ / shares	$ 0
Granted (in dollars per share) | $ / shares	36.85
Vested (in dollars per share) | $ / shares	36.85
Forfeited (in dollars per share) | $ / shares	36.85
Ending balance (in dollars per share) | $ / shares	$ 36.85

Share-Based Compensation - Sc_2

Share-Based Compensation - Schedule of Fair Value Assumptions (Details) - RSUs	6 Months Ended
	Aug. 04, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period	5 years
Weighted-average risk-free interest rate	1.80%
Weighted-average volatility	49.70%
Weighted-average dividend yield	0.00%

Share-Based Compensation - Sc_3

Share-Based Compensation - Schedule of Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 04, 2019	Jul. 29, 2018	Aug. 04, 2019	Jul. 29, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 43,783	$ 4,045	$ 51,013	$ 7,318
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	40,848	0	40,848	0
PIUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 2,935	$ 4,045	$ 10,165	$ 7,318

Income Taxes - Narrative (Deta

Income Taxes - Narrative (Details) - USD ($)	3 Months Ended			6 Months Ended
	Aug. 04, 2019	Jul. 29, 2018	Apr. 29, 2018	Jul. 29, 2018
Income Tax Disclosure [Abstract]
Current income tax provision	$ 0	$ 0	$ 0	$ 0
Deferred income tax provision	$ 0	$ 0	$ 0	$ 0

Net Loss per Share - Narrative

Net Loss per Share - Narrative (Details) - shares	Jun. 18, 2019	Jun. 17, 2019	Aug. 04, 2019	Feb. 03, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock outstanding (in shares)		100
Class B Common Stock, $0.01 par value per share
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock outstanding (in shares)	345,125,000		345,125,000	0
Conversion of stock (in shares)	(47,875,000)	393,000,000

Certain Relationships and Rel_2

Certain Relationships and Related Party Transactions - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 04, 2019	Jul. 29, 2018	Aug. 04, 2019	Jul. 29, 2018
Intercompany Loan
Related Party Transaction [Line Items]
Reduction in intercompany loan	$ 79.5
Sponsors and Parent | Management Fee
Related Party Transaction [Line Items]
Management fee	0.3	$ 0.3	$ 0.7	$ 0.7
Affiliated Entity
Related Party Transaction [Line Items]
Net sales	$ 10.9		$ 21.5