(12)
Segment Reporting and Entity-Wide Information
 
For purposes of the disclosure requirements for segments of a business enterprise, it has been determined that the Company is comprised of one operating segment and one reportable segment. The Company’s chief operating decision maker (the “CODM”) is the Chief Executive Officer. The CODM regularly reviews operations and financial performance at a consolidated level, for purposes of assessing performance and allocating resources.
 
The CODM uses net income to allocate resources for the single segment to make decisions regarding annual budget, new store openings, landlord and vendor negotiations, marketing decisions, pursuing new business ventures, and driving the Company’s values. The CODM reviews asset information on a consolidated basis.
 
The following table summarizes the percentage of net sales by each product group for each year presented:
 
   
Fiscal Year Ended
 
   
January 31,
2026
   
February 1,
2025
   
February 3,
2024
 
   
(in thousands)
 
Consumables (1)
 
$
846,305
     
31.9
%
 
$
726,344
     
31.9
%
 
$
635,820
     
30.3
%
Home (1)
   
749,159
     
28.3
%
   
635,871
     
28.0
%
   
614,729
     
29.2
%
Seasonal
   
506,096
     
19.1
%
   
435,471
     
19.2
%
   
393,563
     
18.7
%
Other
   
547,638
     
20.7
%
   
474,019
     
20.9
%
   
458,550
     
21.8
%
Total
 
$
2,649,198
     
100.0
%
 
$
2,271,705
     
100.0
%
 
$
2,102,662
     
100.0
%
 
  (1)
In fiscal 2024, the Company reclassified certain products out of the Home category and into the Consumables category. These products included cleaning supplies, floor care, and other products such as paper goods. Prior periods have been adjusted for comparability.
Our single segment net sales, net income, and significant expenses are as follows for fiscal 2025, 2024, and 2023:
 
 
 
January 31,
2026
   
February 1,
2025
   
February 3,
2024
 
Net sales
 
$
2,649,198
   
$
2,271,705
   
$
2,102,662
 
Cost of sales
   
1,576,254
     
1,357,253
     
1,270,297
 
Selling, general, and administrative expenses other
   
480,283
     
403,002
     
376,289
 
Occupancy
   
142,123
     
121,902
     
111,741
 
Advertising expenses(1)
   
73,536
     
68,057
     
62,405
 
Depreciation and amortization expenses(2)
   
40,996
     
33,224
     
27,819
 
Stock-based compensation expense
   
13,060
     
19,445
     
12,237
 
Pre-opening expenses
   
25,281
     
19,319
     
14,075
 
Interest income, net
   
(18,719
)
   
(16,311
)
   
(14,686
)
Income tax expense
   
75,788
     
66,052
     
61,046
 
Segment income
   
240,596
     
199,762
     
181,439
 
                         
Reconciliation of profit or loss:
                       
Adjustments and reconciling items
   
-
     
-
     
-
 
Consolidated net income
 
$
240,596
   
$
199,762
   
$
181,439
 


(1)
Expenses reported in operating expenses, excludes advertising expenses recorded in pre-opening.
 

(2)
Expenses reported in operating expenses, excludes depreciation and amortization recorded in cost of sales.

Historical Timeline

Fiscal YearFiled
2026Mar 19, 2026Showing above
2025Mar 26, 2025
2024Mar 27, 2024
2023Mar 24, 2023
2022Mar 25, 2022
2021Mar 24, 2021
2020Mar 25, 2020
2019Mar 29, 2019
2018Apr 4, 2018
2017Mar 29, 2017
2016Apr 11, 2016

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.