Chewy (CHWY) 10-Q 6 Dec 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Oct. 29, 2023	Nov. 29, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Period End Date	Oct. 29, 2023
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	7700 West Sunrise Boulevard
Entity Address, City or Town	Plantation
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33322
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	Large Accelerated Filer
Entity Small Business	false
Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Fiscal Period Focus	Q3
Fiscal Year Focus	2023
Entity Central Index Key	0001766502
Current Fiscal Year End Date	--01-28
Common Class A
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		120,217,588
Common Class B
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		311,188,356

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 29, 2023	Jan. 29, 2023
Current assets:
Cash and cash equivalents	$ 469,409	$ 330,441
Marketable securities	487,772	346,944
Accounts receivable	160,980	126,349
Inventories	712,053	675,520
Prepaid expenses and other current assets	52,713	41,067
Total current assets	1,882,927	1,520,321
Property and equipment, net	514,701	478,738
Operating lease right-of-use assets	473,529	423,423
Goodwill	39,442	39,442
Other non-current assets	25,883	53,152
Total assets	2,936,482	2,515,076
Current liabilities:
Trade accounts payable	1,078,429	1,030,882
Accrued expenses and other current liabilities	886,259	738,467
Total current liabilities	1,964,688	1,769,349
Operating lease liabilities	526,994	471,765
Other long-term liabilities	51,633	60,005
Total liabilities	2,543,315	2,301,119
Commitments and contingencies (Note 6)
Stockholders’ equity:
Preferred stock, $0.01 par value per share, 5,000,000 shares authorized, no shares issued and outstanding as of October 29, 2023 and January 29, 2023	0	0
Additional paid-in capital	2,345,082	2,171,247
Accumulated deficit	(1,956,226)	(1,961,543)
Total stockholders’ equity	393,167	213,957
Total liabilities and stockholders’ equity	2,936,482	2,515,076
Common Class A
Stockholders’ equity:
Common stock, value	1,199	1,141
Common Class B
Stockholders’ equity:
Common stock, value	$ 3,112	$ 3,112

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Oct. 29, 2023	Jan. 29, 2023
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	5,000,000	5,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common Class A
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	1,500,000,000	1,500,000,000
Common stock, issued (in shares)	119,950,022	114,160,531
Common stock, outstanding (in shares)	119,950,022	114,160,531
Common Class B
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	395,000,000	395,000,000
Common stock, issued (in shares)	311,188,356	311,188,356
Common stock, outstanding (in shares)	311,188,356	311,188,356

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 29, 2023	Oct. 30, 2022
Income Statement [Abstract]
Net sales	$ 2,738,611	$ 2,532,122	$ 8,301,055	$ 7,391,460
Cost of goods sold	1,957,850	1,811,945	5,942,066	5,320,666
Gross profit	780,761	720,177	2,358,989	2,070,794
Operating expenses:
Selling, general and administrative	611,718	543,532	1,814,586	1,564,798
Advertising and marketing	179,200	177,079	548,424	465,959
Total operating expenses	790,918	720,611	2,363,010	2,030,757
(Loss) income from operations	(10,157)	(434)	(4,021)	40,037
Interest income, net	10,173	2,745	27,117	3,091
Other expense, net	(34,122)	0	(13,768)	0
(Loss) income before income tax provision	(34,106)	2,311	9,328	43,128
Income tax provision	1,704	0	4,011	0
Net (loss) income	$ (35,810)	$ 2,311	$ 5,317	$ 43,128
(Loss) earnings per share attributable to common Class A and Class B stockholders:
Basic (in dollars per share)	$ (0.08)	$ 0.01	$ 0.01	$ 0.10
Diluted (in dollars per share)	$ (0.08)	$ 0.01	$ 0.01	$ 0.10
Weighted-average common shares used in computing (loss) earnings per share:
Basic (in shares)	430,758	422,898	428,743	421,665
Diluted (in shares)	430,758	428,125	431,406	427,223

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Class A and Class B Common Stock	Additional Paid-in Capital	Accumulated Deficit
Balance at beginning of period (in shares) at Jan. 30, 2022		420,106
Balance at beginning of period at Jan. 30, 2022	$ 14,736	$ 4,201	$ 2,021,310	$ (2,010,775)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense	109,701		109,701
Vesting of share-based compensation awards (in shares)		2,949
Vesting of share-based compensation awards	0	$ 30	(30)
Distribution to parent (in shares)		93
Distribution to parent	0	$ 1	(1)
Tax withholdings for share-based compensation awards (in shares)		(53)
Tax withholdings for share-based compensation awards	(2,475)	$ (1)	(2,474)
Tax sharing agreement with related parties	(1,135)		(1,135)
Net income (loss)	43,128			43,128
Balance at end of period (in shares) at Oct. 30, 2022		423,095
Balance at end of period at Oct. 30, 2022	163,955	$ 4,231	2,127,371	(1,967,647)
Balance at beginning of period (in shares) at Jul. 31, 2022		422,647
Balance at beginning of period at Jul. 31, 2022	117,391	$ 4,226	2,083,123	(1,969,958)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense	45,530		45,530
Vesting of share-based compensation awards (in shares)		448
Vesting of share-based compensation awards	0	$ 5	(5)
Tax withholdings for share-based compensation awards	(3)		(3)
Tax sharing agreement with related parties	(1,274)		(1,274)
Net income (loss)	2,311			2,311
Balance at end of period (in shares) at Oct. 30, 2022		423,095
Balance at end of period at Oct. 30, 2022	163,955	$ 4,231	2,127,371	(1,967,647)
Balance at beginning of period (in shares) at Jan. 29, 2023		425,349
Balance at beginning of period at Jan. 29, 2023	213,957	$ 4,253	2,171,247	(1,961,543)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense	178,897		178,897
Vesting of share-based compensation awards (in shares)		5,696
Vesting of share-based compensation awards	0	$ 57	(57)
Distribution to parent (in shares)		93
Distribution to parent	0	$ 1	(1)
Tax withholdings for share-based compensation awards	(5)		(5)
Tax sharing agreement with related parties	(4,999)		(4,999)
Net income (loss)	5,317			5,317
Balance at end of period (in shares) at Oct. 29, 2023		431,138
Balance at end of period at Oct. 29, 2023	393,167	$ 4,311	2,345,082	(1,956,226)
Balance at beginning of period (in shares) at Jul. 30, 2023		429,718
Balance at beginning of period at Jul. 30, 2023	364,629	$ 4,297	2,280,748	(1,920,416)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation expense	64,348		64,348
Vesting of share-based compensation awards (in shares)		1,420
Vesting of share-based compensation awards	0	$ 14	(14)
Net income (loss)	(35,810)			(35,810)
Balance at end of period (in shares) at Oct. 29, 2023		431,138
Balance at end of period at Oct. 29, 2023	$ 393,167	$ 4,311	$ 2,345,082	$ (1,956,226)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Oct. 29, 2023	Oct. 30, 2022
Cash flows from operating activities
Net income (loss)	$ 5,317	$ 43,128
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	82,195	60,696
Share-based compensation expense	178,897	109,701
Non-cash lease expense	29,371	29,286
Change in fair value of equity warrants and investments	13,589	0
Other	3,810	840
Net change in operating assets and liabilities:
Accounts receivable	(34,631)	(3,453)
Inventories	(36,533)	(118,719)
Prepaid expenses and other current assets	(27,363)	(6,237)
Other non-current assets	(1,337)	(44,220)
Trade accounts payable	47,547	108,635
Accrued expenses and other current liabilities	144,599	42,306
Operating lease liabilities	(19,774)	(15,790)
Other long-term liabilities	1,669	42,847
Net cash provided by operating activities	387,356	249,020
Cash flows from investing activities
Capital expenditures	(110,898)	(171,841)
Cash paid for acquisition of business, net of cash acquired	(367)	0
Purchases of marketable securities	(876,189)	(296,624)
Proceeds from maturities of marketable securities	750,000	0
Other	0	(1,400)
Net cash used in investing activities	(237,454)	(469,865)
Cash flows from financing activities
Payments for tax sharing agreement with related parties	(10,279)	(1,040)
Principal repayments of finance lease obligations	(475)	(492)
Payment of debt modification costs	(175)	0
Payments for tax withholdings related to vesting of share-based compensation awards	(5)	(2,475)
Net cash used in financing activities	(10,934)	(4,007)
Net increase (decrease) in cash and cash equivalents	138,968	(224,852)
Cash and cash equivalents, as of beginning of period	330,441	603,079
Cash and cash equivalents, as of end of period	$ 469,409	$ 378,227

Description of Business

Description of Business	9 Months Ended
	Oct. 29, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	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 and services 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, competitive prices, outstanding convenience (including Chewy’s Autoship subscription program, fast shipping, and hassle-free returns), and a large selection of high-quality pet food, treats and supplies, and pet healthcare products. The Company is controlled by a consortium including private investment funds advised by BC Partners Advisors LP (“BC Partners”) and its affiliates, 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”). The Company was controlled by PetSmart LLC (“PetSmart”), a wholly-owned subsidiary of the Sponsors through February 11, 2021. On October 30, 2023 (the “Closing Date”), the Company entered into certain transactions (the “Transactions”) with affiliates of BC Partners pursuant to an Agreement and Plan of Merger (the “Merger Agreement”). The Transactions resulted in such affiliates restructuring their ownership interests in the Company and Chewy Pharmacy KY, LLC (“Chewy Pharmacy KY”) becoming an indirect wholly-owned subsidiary of the Company. Contemporaneously with the execution and delivery of the Merger Agreement, the Company and the BC Partners-affiliated stockholders named therein (the “BCP Stockholder Parties”) entered into an Amended and Restated Investor Rights Agreement (the “A&R Investor Rights Agreement”), which amended and restated in its entirety that certain Investor Rights Agreement, dated as of June 13, 2019, by and among the Company and the stockholders identified therein. The A&R Investor Rights Agreement contains changes to the governing arrangements between the BCP Stockholder Parties and the Company, including (i) the gradual elimination of the Company’s dual class share structure through the conversion of the Company’s Class B common stock (ten votes per share) into Class A common stock (one vote per share), (ii) certain revisions to the BCP Stockholder Parties director nomination rights which will accelerate the step down of their nomination rights as the economic ownership of the BCP Stockholder Parties decreases following the date that such stockholders no longer hold an aggregate of over 50% of the outstanding Class A and Class B common stock of the Company, (iii) the approval of a disinterested and independent committee of the Company’s board of directors for certain change of control transactions, (iv) certain standstill commitments, and (v) additional transfer restrictions. On the Closing Date, affiliates of BC Partners transferred $1.9 billion to the Company to be used to fund: (i) tax obligations of its affiliates that were inherited by the Company as a result of the Transactions and (ii) expenses incurred by the Company in connection with the Transactions. The Company is evaluating the related tax obligations and an estimate is currently unavailable. The Merger Agreement requires affiliates of BC Partners to indemnify the Company for certain tax liabilities and includes customary indemnifications related to the Transactions.

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Oct. 29, 2023
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies 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 (“ASC”). 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 October 29, 2023 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 October 29, 2023 (“10-Q Report”) should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 29, 2023 (“10-K Report”). 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. The Company’s 2023 fiscal year ends on January 28, 2024 and is a 52-week year. The Company’s 2022 fiscal year ended January 29, 2023 and was a 52-week year. Significant Accounting Policies Other than policies noted herein, 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 10-K Report. 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 and intangible assets, valuation allowances with respect to deferred tax assets, contingencies, self-insurance accruals, evaluation of sales tax positions, and the valuation and assumptions underlying share-based compensation and equity warrants. 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. Accrued Expenses and Other Current Liabilities The following table presents the components of accrued expenses and other current liabilities (in thousands): As of October 29, 2023 January 29, 2023 Outbound fulfillment $ 488,209 $ 369,661 Advertising and marketing 107,790 99,593 Payroll liabilities 67,213 66,799 Accrued expenses and other 223,047 202,414 Total accrued expenses and other current liabilities $ 886,259 $ 738,467 Stockholders’ Equity Conversion of Class B Common Stock On May 8, 2020, Buddy Chester Sub LLC, a wholly-owned subsidiary of the Sponsors, converted 17,584,098 shares of the Company’s Class B common stock into Class A common stock. On May 11, 2020, Buddy Chester Sub LLC entered into a variable forward purchase agreement (the “Contract”) to deliver up to 17,584,098 shares of the Company’s Class A common stock at the exchange date, with the number of shares to be issued based on the trading price of the Company’s common stock during a 20-day observation period. On each of May 15, 2023 and May 16, 2023, Buddy Chester Sub LLC settled its obligations under the Contract and delivered a total of 17,584,098 shares. Interest Income (Expense), net The Company generates interest income from its cash and cash equivalents and marketable securities and incurs interest expense from its borrowing facilities and finance leases. The following table provides additional information about the Company’s interest income (expense), net (in thousands): 13 Weeks Ended 39 Weeks Ended October 29, 2023 October 30, 2022 October 29, 2023 October 30, 2022 Interest income $ 11,050 $ 3,392 $ 29,752 $ 4,995 Interest expense (877) (647) (2,635) (1,904) Interest income, net $ 10,173 $ 2,745 $ 27,117 $ 3,091 Other Income (Expense), net The Company’s other income (expense), net consists of changes in the fair value of equity warrants and investments, foreign currency transaction gains and losses, and allowances for credit losses. The following table provides additional information about the Company’s other income (expense), net (in thousands): 13 Weeks Ended 39 Weeks Ended October 29, 2023 October 30, 2022 October 29, 2023 October 30, 2022 Change in fair value of equity warrants $ (33,800) $ — $ (13,542) $ — Change in fair value of equity investments (33) — (47) — Foreign currency transaction losses (289) — (179) — Other expense, net $ (34,122) $ — $ (13,768) $ — Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements ASU 2022-04—Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations. In September 2022, the FASB issued this Accounting Standards Update (“ASU”) which requires entities that use supplier finance programs in connection with the purchase of goods and services to disclose the key terms of the programs and information about obligations outstanding at the end of the reporting period. This update became effective at the beginning of the Company’s 2023 fiscal year. The adoption of this standard did not have a material impact on the Company’s condensed consolidated financial statements. Recently Issued Accounting Pronouncements ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. In November 2023, the FASB issued this ASU to update reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses and information used to assess segment performance. This update is effective beginning with the Company’s 2024 fiscal year annual reporting period, with early adoption permitted. The Company is currently evaluating the impact that the adoption of this standard will have on its consolidated financial statements. ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. In June 2022, the FASB issued this ASU to clarify the guidance when measuring the fair value of an equity security subject to contractual sale restrictions that prohibit the sale of an equity security. This update is effective at the beginning of the Company’s 2024 fiscal year, with early adoption permitted. The Company does not believe the adoption of this standard will have a material impact on the Company’s condensed consolidated financial statements.

Acquisitions

Acquisitions	9 Months Ended
	Oct. 29, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions Petabyte Acquisition On October 23, 2022, the Company entered into a definitive Agreement and Plan of Merger (the “Petabyte Merger Agreement”) with Petabyte Technology Inc. (“Petabyte”), a Delaware corporation. Under the terms of the Petabyte Merger Agreement, the Company and Petabyte effected a merger on November 7, 2022, and Petabyte became a wholly-owned subsidiary of the Company. Headquartered in Bellevue, Washington, Petabyte is a provider of cloud-based technology solutions to the veterinary sector and the acquisition is expected to further strengthen the Company’s pet healthcare product and service offering. The following table reconciles the estimated purchase price to the cash paid for the acquisition, net of cash acquired (in thousands): Estimated purchase price $ 43,281 Less: cash acquired 2,881 Cash paid for acquisition of business, net of cash acquired $ 40,400 The Petabyte transaction was accounted for as a business combination in accordance with ASC 805 “Business Combinations.” Assets acquired and liabilities assumed were recorded in the accompanying consolidated balance sheet at their estimated fair values, with the remaining unallocated purchase price recorded as goodwill. Goodwill represents the expected synergies and cost rationalization from the merger of operations as well as intangible assets that do not qualify for separate recognition such as an assembled workforce. The following table summarizes the assets acquired and liabilities assumed as of the acquisition date (in thousands): Assets acquired: Cash and cash equivalents $ 2,881 Accounts receivable 104 Goodwill 39,442 Identified intangible assets 1,510 Other current and non-current assets 318 Liabilities assumed: Other current and long-term liabilities (974) Estimated purchase price $ 43,281 Pro forma information for the Petabyte acquisition has not been provided as the impact was not material to the Company’s consolidated results of operations. Based on a preliminary allocation, in connection with this acquisition, the Company recorded goodwill of $39.4 million, none of which is anticipated to be deductible for tax purposes. The identified intangible assets consisted of $1.5 million of developed technology with an amortization period of 3.0 years.

Financial Instruments

Financial Instruments	9 Months Ended
	Oct. 29, 2023
Fair Value Disclosures [Abstract]
Financial Instruments	Financial Instruments 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. To increase the comparability of fair value measures, the following hierarchy prioritizes the inputs to valuation methodologies used to measure fair value: Level 1-Valuations based on quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2-Valuations based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3-Valuations based on unobservable inputs reflecting the Company’s assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment. Cash equivalents are carried at cost, which approximates fair value and are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices. Marketable securities are carried at fair value and are classified within Level 1 because they are valued using quoted market prices. Specific to marketable fixed income securities, the Company did not record any gross unrealized gains and losses as fair value approximates amortized cost. The Company did not record any credit losses during the thirteen and thirty-nine weeks ended October 29, 2023. Further, as of October 29, 2023, the Company did not record an allowance for credit losses related to its fixed income securities. Equity investments in public companies that have readily determinable fair values are carried at fair value and are classified within Level 1 because they are valued using quoted market prices. Equity warrants are classified within Level 3 of the fair value hierarchy as they are valued based on observable and unobservable inputs reflecting the Company’s assumptions, consistent with reasonably available assumptions made by other market participants. The Company utilized certain valuation techniques, such as the Black-Scholes option-pricing model and the Monte Carlo simulation model, to determine the fair value of equity warrants. The application of these models requires the use of a number of complex assumptions based on unobservable inputs, including the expected term, expected equity volatility, discounts for lack of marketability, cash flow projections, and probability with respect to vesting requirements. The following table includes a summary of financial instruments measured at fair value as of October 29, 2023 (in thousands): Level 1 Level 2 Level 3 Cash $ 469,409 $ — $ — Cash and cash equivalents 469,409 — — U.S. Treasury securities 487,687 — — Equity investments 85 — — Marketable securities 487,772 — — Equity warrants — — 8,440 Total financial instruments $ 957,181 $ — $ 8,440 The following table includes a summary of financial instruments measured at fair value as of January 29, 2023 (in thousands): Level 1 Level 2 Level 3 Cash $ 300,441 $ — $ — Money market funds 30,000 — — Cash and cash equivalents 330,441 — — U.S. Treasury securities 346,926 — — Equity investments 18 — — Marketable securities 346,944 — — Equity warrants — — 31,622 Total financial instruments $ 677,385 $ — $ 31,622 The following table summarizes the change in fair value for financial instruments using unobservable Level 3 inputs (in thousands): 39 Weeks Ended October 29, 2023 October 30, 2022 Beginning balance $ 31,622 $ — Change in fair value of equity warrants (23,182) 44,962 Ending balance $ 8,440 $ 44,962 As of October 29, 2023 and January 29, 2023, the deferred credit subject to vesting requirements recognized within other long-term liabilities in exchange for the equity warrants was $34.9 million and $45.0 million, respectively. The following table presents quantitative information about Level 3 significant unobservable inputs used in the fair value measurement of the equity warrants as of October 29, 2023 (in thousands): Range Fair Value Valuation Techniques Unobservable Input Min Max Weighted Average Equity warrants $8,440 Black-Scholes and Monte Carlo Probability of vesting 0% 99% 78% Equity volatility 35% 80% 76%

Property and Equipment, net

Property and Equipment, net	9 Months Ended
	Oct. 29, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment, net	Property and Equipment, net The following is a summary of property and equipment, net (in thousands): As of October 29, 2023 January 29, 2023 Furniture, fixtures and equipment $ 181,788 $ 162,296 Computer equipment 77,956 67,535 Internal-use software 172,791 138,123 Leasehold improvements 303,813 245,700 Construction in progress 82,723 93,534 819,071 707,188 Less: accumulated depreciation and amortization 304,370 228,450 Property and equipment, net $ 514,701 $ 478,738 Internal-use software includes labor and license costs associated with software development for internal use. As of October 29, 2023 and January 29, 2023, the Company had accumulated amortization related to internal-use software of $78.3 million and $56.5 million, respectively. Construction in progress is stated at cost, which includes the cost of construction and other directly attributable costs. No provision for depreciation is made on construction in progress until the relevant assets are completed and put into use.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Oct. 29, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Matters Various legal claims arise from time to time in the normal course of business. In assessing loss contingencies related to legal proceedings that are pending against the Company, or unasserted claims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein. The Company believes that it has adequately accrued for the potential impact of loss contingencies that are probable and reasonably estimable. The Company does not believe that the ultimate resolution of any matters to which it is presently a party will have a material adverse effect on the Company’s results of operations, financial condition or cash flows. However, the results of these matters cannot be predicted with certainty, and an unfavorable resolution of one or more of these matters could have a material adverse effect on the Company’s financial condition, results of operations or cash flows. International Business Machines Corporation (“IBM”) previously alleged that the Company is infringing four of its patents. On February 15, 2021, the Company filed a declaratory judgment action in the United States District Court for the Southern District of New York (the “District Court”) against IBM seeking the District Court’s declaration that the Company is not infringing the four asserted IBM patents. On April 19, 2021, IBM filed an answer with counterclaims seeking unspecified damages, including a request that the amount of compensatory damages be trebled, injunctive relief and costs and reasonable attorneys’ fees. On May 24, 2021, IBM filed an amended complaint that included an additional assertion that the Company is infringing a fifth IBM patent. On October 8, 2021, the parties had a claim construction hearing and on November 9, 2021, the claim construction rulings resulted in one of the five patents (the “‘414 patent”) being eliminated from the case. The parties filed their motions for summary judgment which were fully briefed on February 24, 2022. On April 11, 2022, the District Court granted the Company’s motions for summary judgment that the Company did not infringe three of the patents and that the fourth patent is invalid. On April 29, 2022, IBM filed a notice of appeal in the United States Court of Appeals for the Federal Circuit (the “Federal Circuit”) to appeal the District Court’s judgment of non-infringement of certain of the patents. Oral argument for the appeal occurred on October 4, 2023 and a decision by the Federal Circuit is pending. On May 3, 2023, IBM sent the Company a letter indicating that the ‘414 patent that was invalidated by the District Court was reexamined by the U.S. Patent & Trademark Office and a reexamination certificate was issued. As a result, IBM is asserting that the Company infringes the new claims of the ‘414 patent. The Company continues to deny this recent allegation related to the ‘414 patent and all other allegations of any infringement and intends to vigorously defend itself in this matter.

Debt

Debt	9 Months Ended
	Oct. 29, 2023
Debt Disclosure [Abstract]
Debt	Debt ABL Credit Facility The Company has a senior secured asset-based credit facility (the “ABL Credit Facility”) which matures on August 27, 2026 and provides for non-amortizing revolving loans in an aggregate principal amount of up to $800 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 $250 million, subject to customary conditions. The Company is required to pay a commitment fee of 0.25% per annum with respect to the undrawn portion of the commitments, which is generally based on average daily usage of the facility. Based on the Company’s borrowing base as of October 29, 2023, which is reduced by standby letters of credit, the Company had $759.0 million of borrowing capacity under the ABL Credit Facility. As of October 29, 2023 and January 29, 2023, the Company had no outstanding borrowings under the ABL Credit Facility, respectively.

Leases

Leases	9 Months Ended
	Oct. 29, 2023
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 expire at various dates through 2038, excluding renewal options. 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 2025. The Company’s finance leases as of October 29, 2023 and January 29, 2023 were not material and were included in property and equipment, net, on the Company’s condensed consolidated balance sheets. The table below presents the operating lease-related assets and liabilities recorded on the condensed consolidated balance sheets (in thousands): As of Leases Balance Sheet Classification October 29, 2023 January 29, 2023 Assets Operating Operating lease right-of-use assets $ 473,529 $ 423,423 Total operating lease assets $ 473,529 $ 423,423 Liabilities Current Operating Accrued expenses and other current liabilities $ 28,425 $ 27,611 Non-current Operating Operating lease liabilities 526,994 471,765 Total operating lease liabilities $ 555,419 $ 499,376 For the thirty-nine weeks ended October 29, 2023 and October 30, 2022, assets acquired in exchange for new operating lease liabilities were $97.8 million and $90.3 million, respectively. Lease expense primarily relates to operating lease costs. Lease expense for the thirteen weeks ended October 29, 2023 and October 30, 2022 was $25.5 million and $23.7 million, respectively. Lease expense for the thirty-nine weeks ended October 29, 2023 and October 30, 2022 was $77.8 million and $68.3 million, respectively. The aforementioned lease expense was included within selling, general and administrative expenses in the condensed consolidated statements of operations. Cash flows used in operating activities related to operating leases were approximately $70.1 million and $58.2 million for the thirty-nine weeks ended October 29, 2023 and October 30, 2022, respectively.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Oct. 29, 2023
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation 2022 Omnibus Incentive Plan In July 2022, the Company’s stockholders approved the Chewy, Inc. 2022 Omnibus Incentive Plan (the “2022 Plan”) replacing the Chewy, Inc. 2019 Omnibus Incentive Plan (the “2019 Plan”). The 2022 Plan became effective on July 14, 2022 and allows for the issuance of up to 40.0 million shares of Class A common stock and 1.0 million shares for new grants rolled over from the 2019 Plan. No awards may be granted under the 2022 Plan after July 2032. The 2022 Plan provides for grants of: (i) options, including incentive stock options and non-qualified stock options, (ii) restricted stock units, (iii) other share-based awards, including share appreciation rights, phantom stock, restricted shares, performance shares, deferred share units, and share-denominated performance units, (iv) cash awards, (v) substitute awards, and (vi) dividend equivalents (collectively, the “awards”). The awards may be granted to (i) the Company’s employees, consultants, and non-employee directors, (ii) employees of the Company’s affiliates and subsidiaries, and (iii) consultants of the Company’s subsidiaries. Service and Performance-Based Awards The Company granted restricted stock units which vested upon satisfaction of both service-based vesting conditions and company performance-based vesting conditions (“PRSUs”), subject to the employee’s continued employment with the Company through the applicable vesting date. The Company recorded share-based compensation expense for PRSUs over the requisite service period and accounted for forfeitures as they occur. Service and Performance-Based Awards Activity The following table summarizes the activity related to the Company’s PRSUs for the thirty-nine weeks ended October 29, 2023 (in thousands, except for weighted-average grant date fair value): Number of PRSUs Weighted-Average Grant Date Fair Value Unvested and outstanding as of January 29, 2023 2,206 $ 36.22 Granted 232 $ 35.71 Vested (1,904) $ 36.03 Forfeited (193) $ 37.33 Unvested and outstanding as of October 29, 2023 341 $ 36.32 The following table summarizes the weighted average grant-date fair value of PRSUs granted and total fair value of PRSUs vested for the periods presented: 39 Weeks Ended October 29, 2023 October 30, 2022 Weighted average grant-date fair value of PRSUs $ 35.71 $ 43.59 Total fair value of vested PRSUs (in millions) $ 74.1 $ 61.7 As of October 29, 2023, total unrecognized compensation expense related to unvested PRSUs was $7.5 million and is expected to be recognized over a weighted-average expected performance period of 2.1 years. During the thirty-nine weeks ended October 29, 2023 and October 30, 2022, vesting occurred for 93,309 PRSUs, respectively, that were previously granted to an employee of PetSmart. For accounting purposes, the issuance of Class A common stock upon vesting of these PRSUs is treated as a distribution to a parent entity because both the Company and PetSmart are controlled by affiliates of BC Partners. The fair value for PRSUs with a Company performance-based vesting condition is established based on the market price of the Company’s Class A common stock on the date of grant. Service-Based Awards The Company granted restricted stock units with service-based vesting conditions (“RSUs”) which vested subject to the employee’s continued employment with the Company through the applicable vesting date. The Company recorded share-based compensation expense for RSUs on a straight-line basis over the requisite service period and accounted for forfeitures as they occur. Service-Based Awards Activity The following table summarizes the activity related to the Company’s RSUs for the thirty-nine weeks ended October 29, 2023 (in thousands, except for weighted-average grant date fair value): Number of RSUs Weighted-Average Grant Date Fair Value Unvested and outstanding as of January 29, 2023 10,813 $ 45.56 Granted 11,105 $ 34.25 Vested (3,894) $ 46.01 Forfeited (1,651) $ 40.75 Unvested and outstanding as of October 29, 2023 16,373 $ 38.27 The following table summarizes the weighted average grant-date fair value of RSUs granted and total fair value of RSUs vested for the periods presented: 39 Weeks Ended October 29, 2023 October 30, 2022 Weighted average grant-date fair value of RSUs $ 34.25 $ 41.44 Total fair value of vested RSUs (in millions) $ 142.9 $ 34.3 As of October 29, 2023, total unrecognized compensation expense related to unvested RSUs was $513.5 million and is expected to be recognized over a weighted-average expected performance period of 2.7 years. The fair value for RSUs is established based on the market price of the Company’s Class A common stock on the date of grant. As of October 29, 2023, there were 28.2 million additional shares of Class A common stock reserved for future issuance under the 2022 Plan. 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 39 Weeks Ended October 29, 2023 October 30, 2022 October 29, 2023 October 30, 2022 PRSUs $ 954 $ 2,498 $ 732 $ 10,696 RSUs 63,394 43,032 178,165 99,005 Total share-based compensation expense $ 64,348 $ 45,530 $ 178,897 $ 109,701

Income Taxes

Income Taxes	9 Months Ended
	Oct. 29, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Chewy is subject to taxation in the U.S. and various state, local, and foreign jurisdictions. Income taxes as presented in the Company’s condensed consolidated financial statements have been prepared based on Chewy’s separate return method. The Company had a current income tax provision during the thirteen and thirty-nine weeks ended October 29, 2023 of $1.7 million and $4.0 million, respectively. The Company did not have a current or deferred provision for income taxes for any taxing jurisdiction during the thirteen and thirty-nine weeks ended October 30, 2022, respectively. Additionally, the Company maintained a full valuation allowance on its net deferred tax assets. Concurrent with its initial public offering during the fiscal year ended February 2, 2020, the Company, PetSmart, and Argos Intermediate Holdco I Inc. (“Argos Holdco”) entered into a tax sharing agreement which governs the respective rights, responsibilities, and obligations of the Company, PetSmart, and Argos Holdco 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, and local income taxes. During the thirty-nine weeks ended October 29, 2023, and October 30, 2022, the Company paid $10.3 million and $1.0 million, respectively, pursuant to the tax sharing agreement. The tax sharing agreement was effectively terminated for federal income taxes upon tax deconsolidation with PetSmart in February 2021. As of January 29, 2023, the Company had a payable related to the tax sharing agreement of $5.3 million which was settled as of October 29, 2023. The tax sharing agreement was subsequently terminated by all parties to the agreement on October 30, 2023, in connection with the transaction described in Note 1 - Description of Business.

Earnings per Share

Earnings per Share	9 Months Ended
	Oct. 29, 2023
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share Basic and diluted earnings per share attributable to the Company’s common stockholders are presented using the two-class method required for participating securities. Under the two-class method, net income attributable to the Company’s common stockholders is determined by allocating undistributed earnings between common stock and participating securities. Undistributed earnings for the periods presented are calculated as net income less distributed earnings. Undistributed earnings are allocated proportionally to the Company’s common Class A and Class B stockholders as both classes are entitled to share equally, on a per share basis, in dividends and other distributions. Basic and diluted earnings per share are calculated by dividing net income attributable to the Company’s common stockholders by the weighted-average shares outstanding during the period. The following table sets forth basic and diluted earnings per share attributable to the Company’s common stockholders for the periods presented (in thousands, except per share data): 13 Weeks Ended 39 Weeks Ended October 29, 2023 October 30, 2022 October 29, 2023 October 30, 2022 Basic and diluted earnings per share Numerator (Loss) earnings attributable to common Class A and Class B stockholders $ (35,810) $ 2,311 $ 5,317 $ 43,128 Denominator Weighted-average common shares used in computing (loss) earnings per share: Basic 430,758 422,898 428,743 421,665 Effect of dilutive stock-based awards — 5,227 2,663 5,558 Diluted 430,758 428,125 431,406 427,223 Anti-dilutive stock-based awards excluded from diluted common shares 16,781 6,008 10,868 5,069 (Loss) earnings per share attributable to common Class A and Class B stockholders: Basic $ (0.08) $ 0.01 $ 0.01 $ 0.10 Diluted $ (0.08) $ 0.01 $ 0.01 $ 0.10

Certain Relationships and Relat

Certain Relationships and Related Party Transactions	9 Months Ended
	Oct. 29, 2023
Related Party Transactions [Abstract]
Certain Relationships and Related Party Transactions	Certain Relationships and Related Party Transactions Certain of the Company’s healthcare operations are conducted through Chewy Pharmacy KY, a Delaware limited liability company which was previously a wholly-owned subsidiary of PetSmart, for which the Company and Chewy Pharmacy KY entered into a services agreement, which provided for the payment of a management fee to the Company due from Chewy Pharmacy KY. The Company recognized $2.4 million and $6.9 million during the thirteen and thirty-nine weeks ended October 29, 2023, respectively, within net sales in the condensed consolidated statements of operations for the services provided compared to $1.8 million and $4.9 million during the thirteen and thirty-nine weeks ended October 30, 2022, respectively. The services agreement between the Company and Chewy Pharmacy KY was subsequently terminated in connection with the transaction described in Note 1 - Description of Business. As of October 29, 2023 and January 29, 2023, the Company had a net payable to PetSmart of $3.6 million and $4.9 million, respectively, which was included in accrued expenses and other current liabilities on the Company’s condensed consolidated balance sheets.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 29, 2023	Oct. 30, 2022
Pay vs Performance Disclosure
Net income (loss)	$ (35,810)	$ 2,311	$ 5,317	$ 43,128

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Oct. 29, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Oct. 29, 2023
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 (“ASC”). 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 October 29, 2023 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 October 29, 2023 (“10-Q Report”) should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 29, 2023 (“10-K Report”).
Fiscal Year	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. The Company’s 2023 fiscal year ends on January 28, 2024 and is a 52-week year. The Company’s 2022 fiscal year ended January 29, 2023 and was a 52-week year.
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 and intangible assets, valuation allowances with respect to deferred tax assets, contingencies, self-insurance accruals, evaluation of sales tax positions, and the valuation and assumptions underlying share-based compensation and equity warrants. 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.
Interest Income (Expense), net	Interest Income (Expense), net
Other Income (Expense), net	Other Income (Expense), net
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements ASU 2022-04—Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations. In September 2022, the FASB issued this Accounting Standards Update (“ASU”) which requires entities that use supplier finance programs in connection with the purchase of goods and services to disclose the key terms of the programs and information about obligations outstanding at the end of the reporting period. This update became effective at the beginning of the Company’s 2023 fiscal year. The adoption of this standard did not have a material impact on the Company’s condensed consolidated financial statements. Recently Issued Accounting Pronouncements ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. In November 2023, the FASB issued this ASU to update reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses and information used to assess segment performance. This update is effective beginning with the Company’s 2024 fiscal year annual reporting period, with early adoption permitted. The Company is currently evaluating the impact that the adoption of this standard will have on its consolidated financial statements. ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. In June 2022, the FASB issued this ASU to clarify the guidance when measuring the fair value of an equity security subject to contractual sale restrictions that prohibit the sale of an equity security. This update is effective at the beginning of the Company’s 2024 fiscal year, with early adoption permitted. The Company does not believe the adoption of this standard will have a material impact on the Company’s condensed consolidated financial statements.
Fair Value of Financial Instruments	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. To increase the comparability of fair value measures, the following hierarchy prioritizes the inputs to valuation methodologies used to measure fair value: Level 1-Valuations based on quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2-Valuations based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3-Valuations based on unobservable inputs reflecting the Company’s assumptions, consistent with reasonably available assumptions made by other market participants. These valuations require significant judgment. Cash equivalents are carried at cost, which approximates fair value and are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices. Marketable securities are carried at fair value and are classified within Level 1 because they are valued using quoted market prices. Specific to marketable fixed income securities, the Company did not record any gross unrealized gains and losses as fair value approximates amortized cost. The Company did not record any credit losses during the thirteen and thirty-nine weeks ended October 29, 2023. Further, as of October 29, 2023, the Company did not record an allowance for credit losses related to its fixed income securities. Equity investments in public companies that have readily determinable fair values are carried at fair value and are classified within Level 1 because they are valued using quoted market prices.

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Tables)	9 Months Ended
	Oct. 29, 2023
Accounting Policies [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	The following table presents the components of accrued expenses and other current liabilities (in thousands): As of October 29, 2023 January 29, 2023 Outbound fulfillment $ 488,209 $ 369,661 Advertising and marketing 107,790 99,593 Payroll liabilities 67,213 66,799 Accrued expenses and other 223,047 202,414 Total accrued expenses and other current liabilities $ 886,259 $ 738,467
Schedule of Interest Income and Expense	The following table provides additional information about the Company’s interest income (expense), net (in thousands): 13 Weeks Ended 39 Weeks Ended October 29, 2023 October 30, 2022 October 29, 2023 October 30, 2022 Interest income $ 11,050 $ 3,392 $ 29,752 $ 4,995 Interest expense (877) (647) (2,635) (1,904) Interest income, net $ 10,173 $ 2,745 $ 27,117 $ 3,091
Schedule of Other Nonoperating Income (Expense)	The following table provides additional information about the Company’s other income (expense), net (in thousands): 13 Weeks Ended 39 Weeks Ended October 29, 2023 October 30, 2022 October 29, 2023 October 30, 2022 Change in fair value of equity warrants $ (33,800) $ — $ (13,542) $ — Change in fair value of equity investments (33) — (47) — Foreign currency transaction losses (289) — (179) — Other expense, net $ (34,122) $ — $ (13,768) $ —

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Oct. 29, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Estimated Purchase Price, Net of Cash Acquired	The following table reconciles the estimated purchase price to the cash paid for the acquisition, net of cash acquired (in thousands): Estimated purchase price $ 43,281 Less: cash acquired 2,881 Cash paid for acquisition of business, net of cash acquired $ 40,400
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the assets acquired and liabilities assumed as of the acquisition date (in thousands): Assets acquired: Cash and cash equivalents $ 2,881 Accounts receivable 104 Goodwill 39,442 Identified intangible assets 1,510 Other current and non-current assets 318 Liabilities assumed: Other current and long-term liabilities (974) Estimated purchase price $ 43,281

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Oct. 29, 2023
Fair Value Disclosures [Abstract]
Schedule of Cash and Cash Equivalents	The following table includes a summary of financial instruments measured at fair value as of October 29, 2023 (in thousands): Level 1 Level 2 Level 3 Cash $ 469,409 $ — $ — Cash and cash equivalents 469,409 — — U.S. Treasury securities 487,687 — — Equity investments 85 — — Marketable securities 487,772 — — Equity warrants — — 8,440 Total financial instruments $ 957,181 $ — $ 8,440 The following table includes a summary of financial instruments measured at fair value as of January 29, 2023 (in thousands): Level 1 Level 2 Level 3 Cash $ 300,441 $ — $ — Money market funds 30,000 — — Cash and cash equivalents 330,441 — — U.S. Treasury securities 346,926 — — Equity investments 18 — — Marketable securities 346,944 — — Equity warrants — — 31,622 Total financial instruments $ 677,385 $ — $ 31,622
Summary of Changes in Fair Value for Financial Instruments Using Unobservable Level 3 Inputs	The following table summarizes the change in fair value for financial instruments using unobservable Level 3 inputs (in thousands): 39 Weeks Ended October 29, 2023 October 30, 2022 Beginning balance $ 31,622 $ — Change in fair value of equity warrants (23,182) 44,962 Ending balance $ 8,440 $ 44,962
Summary of Level 3 Significant Unobservable Inputs	The following table presents quantitative information about Level 3 significant unobservable inputs used in the fair value measurement of the equity warrants as of October 29, 2023 (in thousands): Range Fair Value Valuation Techniques Unobservable Input Min Max Weighted Average Equity warrants $8,440 Black-Scholes and Monte Carlo Probability of vesting 0% 99% 78% Equity volatility 35% 80% 76%

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	9 Months Ended
	Oct. 29, 2023
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment, net	The following is a summary of property and equipment, net (in thousands): As of October 29, 2023 January 29, 2023 Furniture, fixtures and equipment $ 181,788 $ 162,296 Computer equipment 77,956 67,535 Internal-use software 172,791 138,123 Leasehold improvements 303,813 245,700 Construction in progress 82,723 93,534 819,071 707,188 Less: accumulated depreciation and amortization 304,370 228,450 Property and equipment, net $ 514,701 $ 478,738

Leases (Tables)

Leases (Tables)	9 Months Ended
	Oct. 29, 2023
Leases [Abstract]
Schedule of Operating Lease-related Assets and Liabilities	The table below presents the operating lease-related assets and liabilities recorded on the condensed consolidated balance sheets (in thousands): As of Leases Balance Sheet Classification October 29, 2023 January 29, 2023 Assets Operating Operating lease right-of-use assets $ 473,529 $ 423,423 Total operating lease assets $ 473,529 $ 423,423 Liabilities Current Operating Accrued expenses and other current liabilities $ 28,425 $ 27,611 Non-current Operating Operating lease liabilities 526,994 471,765 Total operating lease liabilities $ 555,419 $ 499,376

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Oct. 29, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Service and Performance Based-Awards Activity	The following table summarizes the activity related to the Company’s PRSUs for the thirty-nine weeks ended October 29, 2023 (in thousands, except for weighted-average grant date fair value): Number of PRSUs Weighted-Average Grant Date Fair Value Unvested and outstanding as of January 29, 2023 2,206 $ 36.22 Granted 232 $ 35.71 Vested (1,904) $ 36.03 Forfeited (193) $ 37.33 Unvested and outstanding as of October 29, 2023 341 $ 36.32 The following table summarizes the activity related to the Company’s RSUs for the thirty-nine weeks ended October 29, 2023 (in thousands, except for weighted-average grant date fair value): Number of RSUs Weighted-Average Grant Date Fair Value Unvested and outstanding as of January 29, 2023 10,813 $ 45.56 Granted 11,105 $ 34.25 Vested (3,894) $ 46.01 Forfeited (1,651) $ 40.75 Unvested and outstanding as of October 29, 2023 16,373 $ 38.27
Summary of Weighted Average Grant-Date Fair Value and Total Fair Value of Service and Performance Based-Awards Activity	The following table summarizes the weighted average grant-date fair value of PRSUs granted and total fair value of PRSUs vested for the periods presented: 39 Weeks Ended October 29, 2023 October 30, 2022 Weighted average grant-date fair value of PRSUs $ 35.71 $ 43.59 Total fair value of vested PRSUs (in millions) $ 74.1 $ 61.7 The following table summarizes the weighted average grant-date fair value of RSUs granted and total fair value of RSUs vested for the periods presented: 39 Weeks Ended October 29, 2023 October 30, 2022 Weighted average grant-date fair value of RSUs $ 34.25 $ 41.44 Total fair value of vested RSUs (in millions) $ 142.9 $ 34.3
Schedule of Share-based Compensation Expense	The Company recognized share-based compensation expense as follows (in thousands): 13 Weeks Ended 39 Weeks Ended October 29, 2023 October 30, 2022 October 29, 2023 October 30, 2022 PRSUs $ 954 $ 2,498 $ 732 $ 10,696 RSUs 63,394 43,032 178,165 99,005 Total share-based compensation expense $ 64,348 $ 45,530 $ 178,897 $ 109,701

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Oct. 29, 2023
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net (Loss) Income Per Share	The following table sets forth basic and diluted earnings per share attributable to the Company’s common stockholders for the periods presented (in thousands, except per share data): 13 Weeks Ended 39 Weeks Ended October 29, 2023 October 30, 2022 October 29, 2023 October 30, 2022 Basic and diluted earnings per share Numerator (Loss) earnings attributable to common Class A and Class B stockholders $ (35,810) $ 2,311 $ 5,317 $ 43,128 Denominator Weighted-average common shares used in computing (loss) earnings per share: Basic 430,758 422,898 428,743 421,665 Effect of dilutive stock-based awards — 5,227 2,663 5,558 Diluted 430,758 428,125 431,406 427,223 Anti-dilutive stock-based awards excluded from diluted common shares 16,781 6,008 10,868 5,069 (Loss) earnings per share attributable to common Class A and Class B stockholders: Basic $ (0.08) $ 0.01 $ 0.01 $ 0.10 Diluted $ (0.08) $ 0.01 $ 0.01 $ 0.10

Description of Business (Detail

Description of Business (Details) - Subsequent Event $ in Billions	Oct. 30, 2023 USD ($)
Related Party Transaction [Line Items]
Related party transaction, maximum stockholder percentage	50%
Related party transaction, amounts of transaction	$ 1.9

Basis of Presentation and Sig_4

Basis of Presentation and Significant Accounting Policies - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Oct. 29, 2023	Jan. 29, 2023
Accounting Policies [Abstract]
Outbound fulfillment	$ 488,209	$ 369,661
Advertising and marketing	107,790	99,593
Payroll liabilities	67,213	66,799
Accrued expenses and other	223,047	202,414
Total accrued expenses and other current liabilities	$ 886,259	$ 738,467

Basis of Presentation and Sig_5

Basis of Presentation and Significant Accounting Policies - Narrative (Details) - Buddy Chester Sub LLC	May 16, 2023 shares	May 11, 2020 d shares	May 08, 2020 shares
Common Class B
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Conversion of stock (in shares)			(17,584,098)
Common Class A
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Conversion of stock (in shares)	17,584,098		17,584,098
Forward purchase agreement (in shares)		17,584,098
Convertible, threshold trading days | d		20

Basis of Presentation and Sig_6

Basis of Presentation and Significant Accounting Policies - Schedule of Interest Income and Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 29, 2023	Oct. 30, 2022
Accounting Policies [Abstract]
Interest income	$ 11,050	$ 3,392	$ 29,752	$ 4,995
Interest expense	(877)	(647)	(2,635)	(1,904)
Interest income, net	$ 10,173	$ 2,745	$ 27,117	$ 3,091

Basis of Presentation and Sig_7

Basis of Presentation and Significant Accounting Policies - Schedule of Other Nonoperating Income (Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 29, 2023	Oct. 30, 2022
Accounting Policies [Abstract]
Change in fair value of equity warrants	$ (33,800)	$ 0	$ (13,542)	$ 0
Change in fair value of equity investments	(33)	0	(47)	0
Foreign currency transaction losses	(289)	0	(179)	0
Other expense, net	$ (34,122)	$ 0	$ (13,768)	$ 0

Acquisitions - Schedule of Esti

Acquisitions - Schedule of Estimated Purchase Price, Net of Cash Acquired (Details) - USD ($) $ in Thousands		9 Months Ended
	Nov. 07, 2022	Oct. 29, 2023	Oct. 30, 2022
Business Acquisition [Line Items]
Cash paid for acquisition of business, net of cash acquired		$ 367	$ 0
Petabyte Technology Inc.
Business Acquisition [Line Items]
Estimated purchase price	$ 43,281
Less: cash acquired	2,881
Cash paid for acquisition of business, net of cash acquired	$ 40,400

Acquisitions - Schedule of Reco

Acquisitions - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Oct. 29, 2023	Jan. 29, 2023	Nov. 07, 2022
Assets acquired:
Goodwill	$ 39,442	$ 39,442
Petabyte Technology Inc.
Assets acquired:
Cash and cash equivalents			$ 2,881
Accounts receivable			104
Goodwill			39,442
Identified intangible assets			1,510
Other current and non-current assets			318
Liabilities assumed:
Other current and long-term liabilities			(974)
Estimated purchase price			$ 43,281

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Thousands	Oct. 29, 2023	Jan. 29, 2023	Nov. 07, 2022
Business Acquisition [Line Items]
Goodwill	$ 39,442	$ 39,442
Petabyte Technology Inc.
Business Acquisition [Line Items]
Goodwill			$ 39,442
Identified intangible assets			1,510
Petabyte Technology Inc. | Developed technology
Business Acquisition [Line Items]
Identified intangible assets			$ 1,500
Useful life			3 years

Financial Instruments - Narrati

Financial Instruments - Narrative (Details) - USD ($)	3 Months Ended	9 Months Ended
	Oct. 29, 2023	Oct. 29, 2023	Jan. 29, 2023
Fair Value Disclosures [Abstract]
Accumulated gross unrealized gain (loss)	$ 0	$ 0
Allowance for credit loss, period increase (decrease)	0	0
Allowance for credit loss	0	0
Deferred credits	$ 34,900,000	$ 34,900,000	$ 45,000,000

Financial Instruments - Schedul

Financial Instruments - Schedule of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Oct. 29, 2023	Jan. 29, 2023
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 469,409	$ 330,441
Equity investments	85	18
Marketable securities	487,772	346,944
Equity warrants	0	0
Total financial instruments	957,181	677,385
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Equity investments	0	0
Marketable securities	0	0
Equity warrants	0	0
Total financial instruments	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Equity investments	0	0
Marketable securities	0	0
Equity warrants	8,440	31,622
Total financial instruments	8,440	31,622
U.S. Treasury securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
U.S. Treasury securities	487,687	346,926
U.S. Treasury securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
U.S. Treasury securities	0	0
U.S. Treasury securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
U.S. Treasury securities	0	0
Cash | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	469,409	300,441
Cash | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Cash | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 0	0
Money market funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents		30,000
Money market funds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents		0
Money market funds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents		$ 0

Financial Instruments - Summary

Financial Instruments - Summary of Changes in Fair Value of Financial Instruments Using Unobservable Level 3 Inputs (Details) - USD ($) $ in Thousands	9 Months Ended
	Oct. 29, 2023	Oct. 30, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 31,622	$ 0
Change in fair value of equity warrants	(23,182)	44,962
Ending balance	$ 8,440	$ 44,962

Financial Instruments - Summa_2

Financial Instruments - Summary of Level 3 Significant Unobservable Inputs for Fair Value of Equity Warrants (Details) - Level 3 - Fair Value, Recurring $ in Thousands	Oct. 29, 2023 USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Equity warrants	$ 8,440
Min | Probability of vesting
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Equity warrants, measurement input	0
Min | Equity volatility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Equity warrants, measurement input	0.35
Max | Probability of vesting
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Equity warrants, measurement input	0.99
Max | Equity volatility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Equity warrants, measurement input	0.80
Weighted Average | Probability of vesting
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Equity warrants, measurement input	0.78
Weighted Average | Equity volatility
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Equity warrants, measurement input	0.76

Property and Equipment, net - S

Property and Equipment, net - Summary of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Oct. 29, 2023	Jan. 29, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 819,071	$ 707,188
Less: accumulated depreciation and amortization	304,370	228,450
Property and equipment, net	514,701	478,738
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	181,788	162,296
Computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	77,956	67,535
Internal-use software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	172,791	138,123
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	303,813	245,700
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 82,723	$ 93,534

Property and Equipment, net - N

Property and Equipment, net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 29, 2023	Oct. 30, 2022	Jan. 29, 2023
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 16.6	$ 16.1	$ 57.5	$ 42.1
Internal-use software
Property, Plant and Equipment [Line Items]
Accumulated amortization	78.3		78.3		$ 56.5
Amortization expense	$ 8	$ 6.1	$ 21.8	$ 16

Commitments and Contingencies (

Commitments and Contingencies (Details) - patent	Apr. 11, 2022	Oct. 08, 2021	Feb. 15, 2021
Loss Contingencies [Line Items]
Number of patents allegedly infringed		5
Number of patents found not infringed	3	1
Pending litigation
Loss Contingencies [Line Items]
Number of patents allegedly infringed			4

Debt (Details)

Debt (Details) - Line of Credit - Revolving Credit Facility - USD ($)	9 Months Ended
	Oct. 29, 2023	Jan. 29, 2023
Line of Credit Facility [Line Items]
Aggregate principal balance	$ 800,000,000
Additional aggregate principal increase limit (up to)	$ 250,000,000
Commitment fee, percentage	0.25%
Current borrowing capacity	$ 759,000,000
Outstanding borrowings	$ 0	$ 0

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 29, 2023 USD ($) renewalOption	Oct. 30, 2022 USD ($)	Oct. 29, 2023 USD ($) renewalOption	Oct. 30, 2022 USD ($)
Lessee, Lease, Description [Line Items]
Assets acquired in exchange for new operating lease liabilities			$ 97.8	$ 90.3
Lease expense	$ 25.5	$ 23.7	77.8	68.3
Operating lease payments			$ 70.1	$ 58.2
Real Estate
Lessee, Lease, Description [Line Items]
Number of renewal options | renewalOption	3		3
Renewal term	5 years		5 years
Real Estate | Min
Lessee, Lease, Description [Line Items]
Lease term	5 years		5 years
Real Estate | Max
Lessee, Lease, Description [Line Items]
Lease term	15 years		15 years
Equipment | Min
Lessee, Lease, Description [Line Items]
Lease term	3 years		3 years
Equipment | Max
Lessee, Lease, Description [Line Items]
Lease term	5 years		5 years

Leases - Schedule of Lease Asse

Leases - Schedule of Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Oct. 29, 2023	Jan. 29, 2023
Assets
Operating	$ 473,529	$ 423,423
Current
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Operating	$ 28,425	$ 27,611
Non-current
Operating	526,994	471,765
Total operating lease liabilities	$ 555,419	$ 499,376

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Jul. 14, 2022
PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cost not yet recognized	$ 7.5
Weighted average performance period	2 years 1 month 6 days
Vested (in shares)	1,904,000
PRSUs | PetSmart
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested (in shares)	93,309	93,309
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cost not yet recognized	$ 513.5
Weighted average performance period	2 years 8 months 12 days
Vested (in shares)	3,894,000
Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)	28,200,000
2022 Omnibus Incentive Plan | Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares allowed for issuance (in shares)			1,000,000
2022 Omnibus Incentive Plan | Common Class A | Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares allowed for issuance (in shares)			40,000,000

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Service and Performance Based-Awards Activity (Details) - $ / shares shares in Thousands	9 Months Ended
	Oct. 29, 2023	Oct. 30, 2022
PRSUs
Number of Shares
Balance at beginning of period (in shares)	2,206
Granted (in shares)	232
Vested (in shares)	(1,904)
Forfeited (in shares)	(193)
Balance at end of period (in shares)	341
Weighted-Average Grant Date Fair Value
Balance at beginning of period (in dollars per share)	$ 36.22
Granted (in dollars per share)	35.71	$ 43.59
Vested (in dollars per share)	36.03
Forfeited (in dollars per share)	37.33
Balance at end of period (in dollars per share)	$ 36.32
RSUs
Number of Shares
Balance at beginning of period (in shares)	10,813
Granted (in shares)	11,105
Vested (in shares)	(3,894)
Forfeited (in shares)	(1,651)
Balance at end of period (in shares)	16,373
Weighted-Average Grant Date Fair Value
Balance at beginning of period (in dollars per share)	$ 45.56
Granted (in dollars per share)	34.25	$ 41.44
Vested (in dollars per share)	46.01
Forfeited (in dollars per share)	40.75
Balance at end of period (in dollars per share)	$ 38.27

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Weighted Average Grant-Date Fair Value and Total Fair Value of Service and Performance Based-Awards Activity (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Oct. 29, 2023	Oct. 30, 2022
PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant-date fair value (in dollars per share)	$ 35.71	$ 43.59
Total fair value of vested	$ 74.1	$ 61.7
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant-date fair value (in dollars per share)	$ 34.25	$ 41.44
Total fair value of vested	$ 142.9	$ 34.3

Share-Based Compensation - Sc_2

Share-Based Compensation - Schedule of Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 29, 2023	Oct. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 64,348	$ 45,530	$ 178,897	$ 109,701
PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	954	2,498	732	10,696
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 63,394	$ 43,032	$ 178,165	$ 99,005

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 29, 2023	Oct. 30, 2022	Jan. 29, 2023
Related Party Transaction [Line Items]
Current income tax provision	$ 1,700,000	$ 0	$ 4,000,000	$ 0
Deferred income tax provision		$ 0		0
Payments for tax sharing agreement with related parties			(10,279,000)	$ (1,040,000)
Related Party
Related Party Transaction [Line Items]
Accounts payable	$ 3,600,000		$ 3,600,000		$ 4,900,000
Related Party | Tax Sharing Agreement
Related Party Transaction [Line Items]
Accounts payable					$ 5,300,000

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 29, 2023	Oct. 30, 2022
Numerator
(Loss) earnings attributable to common Class A and Class B stockholders	$ (35,810)	$ 2,311	$ 5,317	$ 43,128
Weighted-average common shares used in computing (loss) earnings per share:
Basic (in shares)	430,758	422,898	428,743	421,665
Effect of dilutive stock-based awards (in shares)	0	5,227	2,663	5,558
Diluted (in shares)	430,758	428,125	431,406	427,223
Anti-dilutive stock-based awards excluded from diluted common shares (in shares)	16,781	6,008	10,868	5,069
(Loss) earnings per share attributable to common Class A and Class B stockholders:
Basic (in dollars per share)	$ (0.08)	$ 0.01	$ 0.01	$ 0.10
Diluted (in dollars per share)	$ (0.08)	$ 0.01	$ 0.01	$ 0.10

Certain Relationships and Rel_2

Certain Relationships and Related Party Transactions (Details) - Related Party - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 29, 2023	Oct. 30, 2022	Jan. 29, 2023
Related Party Transaction [Line Items]
Revenues	$ 2.4	$ 1.8	$ 6.9	$ 4.9
Accounts payable	$ 3.6		$ 3.6		$ 4.9