Zumiez Inc Leases Disclosure
10. Leases
At January 31, 2026, we had operating leases for our retail stores, certain distribution and fulfillment facilities, vehicles and equipment. Our remaining lease terms vary from one month to ten years, with varying renewal and termination options. At January 31, 2026 and February 1, 2025, the weighted-average of the remaining lease term was 4.7 years and 4.8 years, respectively, and the weighted-average operating lease discount rate was 4.9% and 4.6%, respectively.
The following table presents components of lease expense (in thousands):
|
|
Fiscal Year Ended |
|
|||||||||
|
|
January 31, 2026 |
|
|
February 1, 2025 |
|
|
February 3, 2024 |
|
|||
Operating lease expense |
|
$ |
73,288 |
|
|
$ |
73,356 |
|
|
$ |
76,434 |
|
Variable lease expense |
|
|
12,386 |
|
|
|
10,410 |
|
|
|
6,694 |
|
Total lease expense (1) |
|
$ |
85,674 |
|
|
$ |
83,766 |
|
|
$ |
83,128 |
|
Supplemental cash flow information related to leases is as follows (in thousands):
|
|
January 31, 2026 |
|
|
February 1, 2025 |
|
||
Cash paid for amounts included in the measurement of lease liabilities: |
|
|
|
|
|
|
||
Operating cash flows from operating leases |
|
$ |
(69,420 |
) |
|
$ |
(73,564 |
) |
Right-of-use assets obtained in exchange for new operating lease liabilities |
|
|
53,564 |
|
|
|
63,575 |
|
At January 31, 2026, the maturities of our operating leases liabilities are as follows (in thousands):
Fiscal 2026 |
|
$ |
62,255 |
|
Fiscal 2027 |
|
|
54,550 |
|
Fiscal 2028 |
|
|
34,211 |
|
Fiscal 2029 |
|
|
23,339 |
|
Fiscal 2030 |
|
|
18,473 |
|
Thereafter |
|
|
31,010 |
|
Total minimum lease payments |
|
|
223,838 |
|
Less: interest |
|
|
(24,509 |
) |
Present value of lease obligations |
|
|
199,329 |
|
Less: current portion |
|
|
(54,023 |
) |
Long-term lease obligations (2) |
|
$ |
145,306 |
|
At January 31, 2026, we have excluded from the table above $5.0 million of operating leases that were contractually executed, but have not yet commenced. These operating leases are expected to commence in fiscal 2026.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Mar 12, 2026 | Showing above |
| 2025 | Mar 13, 2025 | |
| 2024 | Mar 14, 2024 | |
| 2023 | Mar 20, 2023 | |
| 2022 | Mar 14, 2022 | |
| 2021 | Mar 15, 2021 | |
| 2020 | Mar 16, 2020 | |
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.