0000950170-23-045921 | 10-Q | XBRL Viewer | Petco Health Wellness Company INC

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Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jul. 29, 2023	Jul. 30, 2022	Jul. 29, 2023	Jul. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ (14,606)	$ 13,456	$ (16,498)	$ 38,149

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Fair Value Measurements

6 Months Ended

Jul. 29, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements

5. Fair Value Measurements

Assets and Liabilities Measured on a Recurring Basis

The following table presents information about assets and liabilities that are measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation techniques utilized to determine such fair value (in thousands):


	July 29, 2023
	Level 1		Level 2			Level 3
Assets (liabilities):
Money market mutual funds	$	118,915	$	—		$	—
Investments of officers' life insurance	$	—	$	14,281		$	—
Non-qualified deferred compensation plan	$	—	$	(20,200	)	$	—
Interest related to Rover Group, Inc.	$	—	$	—		$	14,518


	January 28, 2023
	Level 1		Level 2			Level 3
Assets (liabilities):
Money market mutual funds	$	156,626	$	—		$	—
Investments of officers' life insurance	$	—	$	13,112		$	—
Non-qualified deferred compensation plan	$	—	$	(18,464	)	$	—
Investment in Rover Group, Inc.	$	20,152	$	—		$	—

The fair value of money market mutual funds is based on quoted market prices, such as quoted net asset values published by the fund as supported in an active market. Money market mutual funds included in the Company’s cash and cash equivalents were $117.0 million and $145.5 million as of July 29, 2023 and January 28, 2023, respectively. Also included in the Company’s money market mutual funds balances were $1.9 million and $11.1 million as of July 29, 2023 and January 28, 2023, respectively, which relate to the Company’s restricted cash, and are included in other current assets in the consolidated balance sheets.

The Company maintains a deferred compensation plan for key executives and other members of management, which is funded by investments in officers’ life insurance. The fair value of this obligation is based on participants’ elected investments, which reflect the closing market prices of similar assets.

In April 2023, the Company sold its interest in Rover Group, Inc. Class A common stock to a buyer at a price determined based on the daily volume weighted average price, in addition to a premium, over an agreed upon period. The cash proceeds were received throughout fiscal 2023, with the final payment being received in August 2023. The Company's interest in the unsettled cash proceeds were remeasured at fair value at each reporting period, and the resulting gains or losses were included in other non-operating income in the consolidated statements of operations.

Assets Measured on a Non-Recurring Basis

The Company’s non-financial assets, which primarily consist of goodwill, other intangible assets, fixed assets and equity and other investments, are reported at carrying value, or at fair value as of the date of the Company’s acquisition of Petco Holdings, Inc. LLC on January 26, 2016, and are not required to be measured at fair value on a recurring basis. However, on a periodic basis (at least annually for goodwill and indefinite-lived intangibles or whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable), non-financial assets are assessed for impairment. If impaired, the carrying values of the assets are written down to fair value using Level 3 inputs.

There were no triggering events identified and no indication of impairment of the Company’s goodwill, indefinite-lived trade name, other intangible assets or equity and other investments during the thirteen or twenty-six week periods ended July 29, 2023 and July 30, 2022. During the thirteen and twenty-six week periods ended July 29, 2023, the Company recorded fixed asset and right-of-use asset impairment charges of $0.9 million and $1.1 million, respectively. During the thirteen and twenty-six week periods ended July 30, 2022, the Company recorded fixed asset and right-of-use asset impairment charges of $0.2 million and $1.0 million, respectively.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Derivative Instruments

6 Months Ended

Jul. 29, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

4. Derivative Instruments

The interest rate caps and collars are accounted for as cash flow hedges because they are expected to be highly effective in hedging variable rate interest payments. Changes in the fair value of the cash flow hedges are reported as a component of AOCI. As of July 29, 2023, AOCI included unrealized gains of $2.2 million ($1.7 million, net of tax). Approximately $0.5 million and $1.1 million of pre-tax losses deferred in AOCI were reclassified to interest expense during the thirteen and twenty-six week periods ended July 29, 2023, respectively. As of January 28, 2023, AOCI included unrealized losses of $2.7 million ($2.1 million, net of tax). The Company currently estimates that $3.2 million of losses related to trade date costs on its cash flow hedges that are currently deferred in AOCI will be reclassified to interest expense in the consolidated statement of operations within the next twelve months. This estimate could vary based on actual amounts as a result of changes in market conditions.

The cash flow hedges are reflected in the Company’s consolidated balance sheets as follows (in thousands):


Assets (Liabilities)	Balance sheet location	July 29, 2023			January 28, 2023
Current asset portion of cash flow hedges	Other current assets	$	4,402		$	—
Non-current asset portion of cash flow hedges	Other long-term assets		1,003			—
Current liability portion of cash flow hedges	Accrued expenses and other liabilities		—			(1,176	)
Non-current liability portion of cash flow hedges	Other long-term liabilities		(1,594	)		(1,717	)
Total cash flow hedges		$	3,811		$	(2,893	)

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jul. 29, 2023	Aug. 30, 2023
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 29, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Registrant Name	Petco Health and Wellness Company, Inc.
Entity Central Index Key	0001826470
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--02-03
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Class A Common Stock, par value $0.001 per share
Trading Symbol	WOOF
Security Exchange Name	NASDAQ
Entity File Number	001-39878
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-1005932
Entity Address, Address Line One	10850 Via Frontera
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92127
City Area Code	858
Local Phone Number	453-7845
Document Quarterly Report	true
Document Transition Report	false
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		229,974,364
Class B-1 Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		37,790,781
Class B-2 Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		37,790,781

Stockholders' Equity - Schedule of Nonvested Share Activity (Details) - 2021 Equity Incentive Plan shares in Thousands, $ in Thousands	6 Months Ended
	Jul. 29, 2023 USD ($) shares
RSUs and RSAs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Nonvested/outstanding, January 28, 2023	7,802
Granted	7,343
Vested and delivered/exercised	(2,059)
Forfeited/expired	(634)
Nonvested/outstanding, July 29, 2023	12,452
Unrecognized compensation expense as of July 29, 2023 \| $	$ 118,638
Weighted average remaining expense period as of July 29, 2023	2 years 1 month 6 days
Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options outstanding, January 28, 2023	7,814
Forfeited/expired	(67)
Options outstanding, July 29, 2023	7,747
Unrecognized compensation expense as of July 29, 2023 \| $	$ 21,873
Weighted average remaining expense period as of July 29, 2023	1 year 3 months 18 days

Stockholders' Equity - Summary of Equity-based Compensation Expense by Award Type (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 29, 2023	Jul. 30, 2022	Jul. 29, 2023	Jul. 30, 2022
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total equity-based compensation expense	$ 24,119	$ 12,895	$ 46,248	$ 25,117
RSUs and RSAs
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total equity-based compensation expense	16,778	8,690	31,274	15,157
Employee Stock Option
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total equity-based compensation expense	4,917	2,038	10,002	3,846
ESPP
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total equity-based compensation expense	423	315	854	612
Other Awards
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total equity-based compensation expense	$ 2,001	$ 1,852	$ 4,118	$ 5,502

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jul. 29, 2023	Jan. 28, 2023
Allowance for credit loss, current	$ 1,164	$ 952
Preferred stock, par value per share	$ 0.001	$ 0.001
Preferred stock, shares authorized	25,000,000.0	25,000,000.0
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class A Common Stock
Common stock, par value per share	$ 0.001	$ 0.001
Common stock, shares authorized	1,000,000,000.0	1,000,000,000.0
Common stock, shares, issued	229,800,000	228,300,000
Common stock, shares, outstanding	229,800,000	228,300,000
Class B-1 Common Stock
Common stock, par value per share	$ 0.001	$ 0.001
Common stock, shares authorized	75,000,000.0	75,000,000.0
Common stock, shares, issued	37,800,000	37,800,000
Common stock, shares, outstanding	37,800,000	37,800,000
Class B-2 Common Stock
Common stock, par value per share	$ 0.000001	$ 0.000001
Common stock, shares authorized	75,000,000.0	75,000,000.0
Common stock, shares, issued	37,800,000	37,800,000
Common stock, shares, outstanding	37,800,000	37,800,000

Senior Secured Credit Facilities - Applicable Margin for Adjusted LIBOR Loans and Base Rate Loans based on Average Historical Excess Availability (Details) - Amended Revolving Credit Facility	6 Months Ended
	Jul. 29, 2023
Applicable Margin for Adjusted SOFR Loans \| Less than 33.3% of the Line Cap
Line Of Credit Facility [Line Items]
Applicable Margin Rate for Loans based on Average Historical Excess Availability	1.75%
Applicable Margin for Adjusted SOFR Loans \| Less than 66.7% but Greater than or Equal to 33.3% of the Line Cap
Line Of Credit Facility [Line Items]
Applicable Margin Rate for Loans based on Average Historical Excess Availability	1.50%
Applicable Margin for Adjusted SOFR Loans \| Greater than or Equal to 66.7% of the Line Cap
Line Of Credit Facility [Line Items]
Applicable Margin Rate for Loans based on Average Historical Excess Availability	1.25%
Applicable Margin for Base Rate Loans
Line Of Credit Facility [Line Items]
Applicable Margin Rate for Loans based on Average Historical Excess Availability	0.25%
Applicable Margin for Base Rate Loans \| Less than 33.3% of the Line Cap
Line Of Credit Facility [Line Items]
Applicable Margin Rate for Loans based on Average Historical Excess Availability	0.75%
Applicable Margin for Base Rate Loans \| Less than 66.7% but Greater than or Equal to 33.3% of the Line Cap
Line Of Credit Facility [Line Items]
Applicable Margin Rate for Loans based on Average Historical Excess Availability	0.50%
Applicable Margin for Base Rate Loans \| Greater than or Equal to 66.7% of the Line Cap
Line Of Credit Facility [Line Items]
Applicable Margin Rate for Loans based on Average Historical Excess Availability	0.25%

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Common Stock Class A Common Stock	Common Stock Class B-1 Common Stock	Common Stock Class B-2 Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Total Stockholders'/Members' Equity	Noncontrolling Interest
Beginning Balance at Jan. 29, 2022	$ 2,255,819	$ 265				$ 2,133,821	$ 142,166	$ (2,238)	$ 2,274,014	$ (18,195)
Beginning Balance (in shares) at Jan. 29, 2022			227,187	37,791	37,791
Equity-based compensation expense (Note 6)	12,055					12,055			12,055
Net (loss) income	23,802						24,693		24,693	(891)
Foreign currency translation adjustment, net of tax	(1,598)							(1,598)	(1,598)
Issuance of common stock, net of tax withholdings	(2,371)					(2,371)			(2,371)
Issuance of common stock, net of tax withholdings (in shares)			291
Ending Balance at Apr. 30, 2022	2,287,707	265				2,143,505	166,859	(3,836)	2,306,793	(19,086)
Ending Balance (in shares) at Apr. 30, 2022			227,478	37,791	37,791
Beginning Balance at Jan. 29, 2022	2,255,819	265				2,133,821	142,166	(2,238)	2,274,014	(18,195)
Beginning Balance (in shares) at Jan. 29, 2022			227,187	37,791	37,791
Net (loss) income	37,258
Ending Balance at Jul. 30, 2022	2,279,146	266				2,103,176	180,315	(4,611)	2,279,146
Ending Balance (in shares) at Jul. 30, 2022			227,909	37,791	37,791
Beginning Balance at Jan. 29, 2022	2,255,819	265				2,133,821	142,166	(2,238)	2,274,014	(18,195)
Beginning Balance (in shares) at Jan. 29, 2022			227,187	37,791	37,791
Ending Balance at Jan. 28, 2023	2,381,477	266				2,152,342	232,967	(4,098)	2,381,477
Ending Balance (in shares) at Jan. 28, 2023			228,338	37,791	37,791
Beginning Balance at Apr. 30, 2022	2,287,707	265				2,143,505	166,859	(3,836)	2,306,793	(19,086)
Beginning Balance (in shares) at Apr. 30, 2022			227,478	37,791	37,791
Equity-based compensation expense (Note 6)	13,422					13,422			13,422
Net (loss) income	13,456						13,456		13,456
Foreign currency translation adjustment, net of tax	(775)							(775)	(775)
Investment in veterinary joint venture	(35,000)					(54,086)			(54,086)	$ 19,086
Issuance of common stock, net of tax withholdings	336	1				335			336
Issuance of common stock, net of tax withholdings (in shares)			431
Ending Balance at Jul. 30, 2022	2,279,146	266				2,103,176	180,315	(4,611)	2,279,146
Ending Balance (in shares) at Jul. 30, 2022			227,909	37,791	37,791
Beginning Balance at Jan. 28, 2023	2,381,477	266				2,152,342	232,967	(4,098)	2,381,477
Beginning Balance (in shares) at Jan. 28, 2023			228,338	37,791	37,791
Equity-based compensation expense (Note 6)	22,282					22,282			22,282
Net (loss) income	(1,892)						(1,892)		(1,892)
Foreign currency translation adjustment, net of tax	1,057							1,057	1,057
Unrealized loss on derivatives (Note 4), net of tax	(984)							(984)	(984)
Losses on derivatives reclassified to income (Note 4), net of tax	433							433	433
Issuance of common stock, net of tax withholdings	(1,253)	1				(1,254)			(1,253)
Issuance of common stock, net of tax withholdings (in shares)			727
Ending Balance at Apr. 29, 2023	2,401,120	267				2,173,370	231,075	(3,592)	2,401,120
Ending Balance (in shares) at Apr. 29, 2023			229,065	37,791	37,791
Beginning Balance at Jan. 28, 2023	2,381,477	266				2,152,342	232,967	(4,098)	2,381,477
Beginning Balance (in shares) at Jan. 28, 2023			228,338	37,791	37,791
Net (loss) income	(16,498)
Unrealized loss on derivatives (Note 4), net of tax	2,931
Losses on derivatives reclassified to income (Note 4), net of tax	794
Ending Balance at Jul. 29, 2023	2,414,764	268				2,196,235	216,470	1,791	2,414,764
Ending Balance (in shares) at Jul. 29, 2023			229,826	37,791	37,791
Beginning Balance at Apr. 29, 2023	2,401,120	267				2,173,370	231,075	(3,592)	2,401,120
Beginning Balance (in shares) at Apr. 29, 2023			229,065	37,791	37,791
Equity-based compensation expense (Note 6)	24,322					24,322			24,322
Net (loss) income	(14,606)						(14,606)		(14,606)
Foreign currency translation adjustment, net of tax	1,107							1,107	1,107
Unrealized loss on derivatives (Note 4), net of tax	3,915							3,915	3,915
Losses on derivatives reclassified to income (Note 4), net of tax	361							361	361
Issuance of common stock, net of tax withholdings	(1,456)	1				(1,457)			(1,456)
Issuance of common stock, net of tax withholdings (in shares)			761
Ending Balance at Jul. 29, 2023	$ 2,414,764	$ 268				$ 2,196,235	$ 216,470	$ 1,791	$ 2,414,764
Ending Balance (in shares) at Jul. 29, 2023			229,826	37,791	37,791

Commitments and Contingencies

6 Months Ended

Jul. 29, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

7. Commitments and Contingencies

The Company is involved in legal proceedings and is subject to other claims and litigation arising in the ordinary course of its business. The Company has made accruals with respect to certain of these matters, where appropriate, which are reflected in the Company’s consolidated financial statements but are not, individually or in the aggregate, considered material. For other matters, the Company has not made accruals because management has not yet determined that a loss is probable or because the amount of loss cannot be reasonably estimated. While the ultimate outcome of the matters cannot be determined, the Company currently does not expect that these matters will have a material adverse effect on its consolidated financial statements. The outcome of any litigation is inherently uncertain, however, and if decided adversely to the Company, or if the Company determines that settlement of particular litigation is appropriate, the Company may be subject to liability that could have a material adverse effect on its consolidated financial statements.

Revenue Recognition - Summary of Net Sales by Product Type and Services (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 29, 2023	Jul. 30, 2022	Jul. 29, 2023	Jul. 30, 2022
Disaggregation Of Revenue [Line Items]
Net sales	$ 1,530,734	$ 1,480,797	$ 3,086,642	$ 2,956,788
Consumables
Disaggregation Of Revenue [Line Items]
Net sales	734,077	687,068	1,497,128	1,372,998
Supplies and companion animals
Disaggregation Of Revenue [Line Items]
Net sales	544,521	600,711	1,098,066	1,199,890
Services and other
Disaggregation Of Revenue [Line Items]
Net sales	$ 252,136	$ 193,018	$ 491,448	$ 383,900

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 32
-Subparagraph (b)
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Derivative Instruments - Summary of Cash Flow Hedges Reflected in Consolidated Balance Sheets (Details) - Cash Flow Hedging [Member] - USD ($) $ in Thousands	Jul. 29, 2023	Jan. 28, 2023
Derivative [Line Items]
Current asset portion of cash flow hedges	$ 4,402
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	Other Assets, Current
Non-current asset portion of cash flow hedges	$ 1,003
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Assets, Noncurrent
Current liability portion of cash flow hedges		$ (1,176)
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]		Accrued Liabilities, Current
Non-current liability portion of cash flow hedges	$ (1,594)	$ (1,717)
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Total cash flow hedges	$ 3,811	$ (2,893)

Senior Secured Credit Facilities (Tables)

6 Months Ended

Jul. 29, 2023

Debt Disclosure [Abstract]

Applicable Margin for Adjusted LIBOR Loans and Base Rate Loans based on Average Historical Excess Availability

The applicable margin is adjusted quarterly based on the average historical excess availability as a percentage of the Line Cap, which represents the lesser of the aggregate ABL Revolving Credit Facility and the borrowing base, as follows:


Average Historical Excess Availability	Applicable Margin for Adjusted Term SOFR Loans			Applicable Margin for Base Rate Loans
Less than 33.3% of the Line Cap		1.75	%		0.75	%
Less than 66.7% but greater than or equal to 33.3% of the Line Cap		1.50	%		0.50	%
Greater than or equal to 66.7% of the Line Cap		1.25	%		0.25	%

Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jul. 29, 2023

Accounting Policies [Abstract]

Basis of Presentation

Petco Health and Wellness Company, Inc. (together with its consolidated subsidiaries, the “Company”) is a category-defining health and wellness company focused on improving the lives of pets, pet parents, and its own partners. The Company manages its business as one reportable operating segment.

In the opinion of management, the accompanying consolidated financial statements contain all adjustments necessary for a fair presentation as prescribed by accounting principles generally accepted in the United States (“GAAP”). All adjustments were comprised of normal recurring adjustments, except as noted in these Notes to Consolidated Financial Statements.

There have been no significant changes from the significant accounting policies disclosed in Note 1 of the Notes to Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 28, 2023.

The accompanying consolidated financial statements have been prepared in accordance with GAAP for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. Interim financial results are not necessarily indicative of results anticipated for the full year. The accompanying consolidated financial statements and these Notes to Consolidated Financial Statements should be read in conjunction with the audited consolidated financial statements and Notes to Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended January 28, 2023, from which the prior year balance sheet information herein was derived.

Use of Estimates

The preparation of these consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, 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 periods. These estimates are based on information that is currently available and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could vary from those estimates under different assumptions or conditions.

Veterinary Joint Venture

The Company previously held a 50% investment in a joint venture with a domestic partner to build and operate veterinary clinics in Petco locations. The joint venture was a variable interest entity for which the Company was the primary beneficiary, and accordingly, the joint venture’s results of operations and statements of financial position are included in the Company’s consolidated financial statements. In May 2022, the Company completed the purchase of the remaining 50% of the issued and outstanding membership interests of the joint venture, which is now a wholly owned subsidiary of the Company, for cash consideration of $35.0 million. Direct transaction costs related to this purchase were not material.

Derivative Instruments

In November 2022, the Company entered into a series of interest rate cap agreements to limit the maximum interest on a portion of the Company’s variable-rate debt and decrease its exposure to interest rate variability relating to the three-month Secured Overnight Financing Rate as published by CME Group ("Term SOFR"). The interest rate caps became effective December 30, 2022 and expire on December 31, 2024. The interest rate caps are

accounted for as cash flow hedges, and changes in the fair value of the interest rate caps are reported as a component of accumulated other comprehensive income (loss) ("AOCI").

In March 2023, the Company entered into an interest rate collar agreement to limit the maximum interest on a portion of the Company’s variable-rate debt and decrease its exposure to interest rate variability relating to three-month Term SOFR. The interest rate collar became effective March 31, 2023 and expires on March 31, 2026. The interest rate collar is accounted for as a cash flow hedge, and changes in the fair value of the interest rate collar are reported as a component of AOCI.

In June 2023, the Company entered into an interest rate collar agreement to limit the maximum interest on a portion of the Company’s variable-rate debt and decrease its exposure to interest rate variability relating to three-month Term SOFR. The interest rate collar becomes effective September 30, 2023 and expires on December 31, 2026. The interest rate collar is accounted for as a cash flow hedge, and changes in the fair value of the interest rate collar are reported as a component of AOCI.

Cash and Cash Equivalents

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the consolidated balance sheets to the total amounts reported in the consolidated statements of cash flows (in thousands):


	July 29, 2023		January 28, 2023
Cash and cash equivalents	$	173,014	$	201,901
Restricted cash included in other current assets		3,395		11,826
Total cash, cash equivalents and restricted cash in the statement of cash flows	$	176,409	$	213,727

Stockholders' Equity - Schedule of Series C Unit Activity Under 2016 Incentive Plan (Details) - 2016 Incentive Plan	6 Months Ended
	Jul. 29, 2023 shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding, January 28, 2023	201,359,000
Granted	0
Forfeited	(847,000)
Outstanding, July 29, 2023	200,512,000
Vested, July 29, 2023	172,814,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Stockholders' Equity (Tables)

6 Months Ended

Jul. 29, 2023

Stockholders' Equity Note [Abstract]

Summary of Equity-based Compensation Expense by Award Type

The following table summarizes the Company’s equity-based compensation expense by award type (in thousands):


	Thirteen weeks ended				Twenty-six weeks ended
	July 29, 2023		July 30, 2022		July 29, 2023		July 30, 2022
RSUs and RSAs	$	16,778	$	8,690	$	31,274	$	15,157
Options		4,917		2,038		10,002		3,846
ESPP		423		315		854		612
Other awards		2,001		1,852		4,118		5,502
Total equity-based compensation expense	$	24,119	$	12,895	$	46,248	$	25,117

Schedule of Nonvested Share Activity

Activity under the 2021 Equity Incentive Plan was as follows (shares and dollars in thousands):


	RSUs and RSAs			Options
Nonvested/outstanding, January 28, 2023		7,802			7,814
Granted		7,343			—
Vested and delivered/exercised		(2,059	)		—
Forfeited/expired		(634	)		(67	)
Nonvested/outstanding, July 29, 2023		12,452			7,747
Unrecognized compensation expense as of July 29, 2023	$	118,638		$	21,873
Weighted average remaining expense period as of July 29, 2023	2.1 years			1.3 years

Schedule of Series C Unit Activity Under 2016 Incentive Plan

Series C Unit activity under the 2016 Incentive Plan was as follows (in thousands):


	Units
Outstanding, January 28, 2023		201,359
Granted		—
Forfeited		(847	)
Outstanding, July 29, 2023		200,512
Vested, July 29, 2023		172,814

Summary of Significant Accounting Policies - Additional Information (Details) $ in Millions	1 Months Ended	6 Months Ended
	May 31, 2022 USD ($)	Jul. 29, 2023 Segment
Summary Of Significant Accounting Policies [Line Items]
Number of reportable segments		1
Number of operating segments		1
Variable Interest Entities, Primary Beneficiary
Summary Of Significant Accounting Policies [Line Items]
VIEs' ownership percentage		50.00%
VIEs' agreement to purchase remaining ownership percentage	50.00%
Cash consideration \| $	$ 35.0

Summary of Significant Accounting Policies

6 Months Ended

Jul. 29, 2023

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

1. Summary of Significant Accounting Policies

Basis of Presentation

Use of Estimates

Veterinary Joint Venture

Derivative Instruments

accounted for as cash flow hedges, and changes in the fair value of the interest rate caps are reported as a component of accumulated other comprehensive income (loss) ("AOCI").

Cash and Cash Equivalents


	July 29, 2023		January 28, 2023
Cash and cash equivalents	$	173,014	$	201,901
Restricted cash included in other current assets		3,395		11,826
Total cash, cash equivalents and restricted cash in the statement of cash flows	$	176,409	$	213,727

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 29, 2023	Jul. 30, 2022	Jul. 29, 2023	Jul. 30, 2022	Jan. 28, 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impairment of fixed asset and right-of-use asset	$ 0.9	$ 0.2	$ 1.1	$ 1.0
Cash and Cash Equivalents
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Money market mutual funds	117.0		117.0		$ 145.5
Restricted Cash \| Other Current Assets
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Money market mutual funds	$ 1.9		$ 1.9		$ 11.1

Summary of Significant Accounting Policies - Schedule of Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Jul. 29, 2023	Jan. 28, 2023
Accounting Policies [Abstract]
Cash and cash equivalents	$ 173,014	$ 201,901
Restricted cash included in other current assets	$ 3,395	$ 11,826
Restricted Cash and Cash Equivalents, Asset, Statement of Financial Position [Extensible List]	Other current assets	Other current assets
Total cash, cash equivalents and restricted cash in the statement of cash flows	$ 176,409	$ 213,727

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 29, 2023	Jan. 28, 2023
Current assets:
Cash and cash equivalents	$ 173,014	$ 201,901
Receivables, less allowance for credit losses ($1,164 and $952, respectively)	66,258	49,580
Merchandise inventories, net	675,441	652,430
Prepaid expenses	54,880	51,274
Other current assets	55,247	60,809
Total current assets	1,024,840	1,015,994
Fixed assets	2,090,367	1,987,560
Less accumulated depreciation	(1,270,141)	(1,184,233)
Fixed assets, net	820,226	803,327
Operating lease right-of-use assets	1,401,834	1,397,761
Goodwill	2,196,664	2,193,941
Trade name	1,025,000	1,025,000
Other long-term assets	193,698	176,806
Total assets	6,662,262	6,612,829
Current liabilities:
Accounts payable and book overdrafts	477,748	381,213
Accrued salaries and employee benefits	90,796	89,929
Accrued expenses and other liabilities	219,910	217,556
Current portion of operating lease liabilities	281,415	309,766
Current portion of long-term debt and other lease liabilities	5,077	22,794
Total current liabilities	1,074,946	1,021,258
Senior secured credit facilities, net, excluding current portion	1,588,523	1,628,331
Operating lease liabilities, excluding current portion	1,159,696	1,148,155
Deferred taxes, net	294,094	303,121
Other long-term liabilities	130,239	130,487
Total liabilities	4,247,498	4,231,352
Commitments and contingencies (Notes 3 and 7)
Stockholders' equity:
Preferred stock, $0.001 par value: Authorized - 25.0 million shares; Issued and outstanding - none
Additional paid-in-capital	2,196,235	2,152,342
Retained earnings	216,470	232,967
Accumulated other comprehensive income (loss)	1,791	(4,098)
Total stockholders’ equity	2,414,764	2,381,477
Total liabilities and stockholders' equity	6,662,262	6,612,829
Class A Common Stock
Stockholders' equity:
Common stock value	230	228
Class B-1 Common Stock
Stockholders' equity:
Common stock value	38	38
Class B-2 Common Stock
Stockholders' equity:
Common stock value

Senior Secured Credit Facilities

6 Months Ended

Jul. 29, 2023

Debt Disclosure [Abstract]

Senior Secured Credit Facilities

3. Senior Secured Credit Facilities

On March 4, 2021, the Company entered into a $1,700.0 million secured term loan facility maturing on March 4, 2028 (the “First Lien Term Loan”) and a secured asset-based revolving credit facility with availability of up to $500.0 million, subject to a borrowing base, maturing on March 4, 2026 (the “ABL Revolving Credit Facility”).

As of July 29, 2023, the Company was in compliance with its covenants under the First Lien Term Loan and the ABL Revolving Credit Facility.

Term Loan Facilities

On December 12, 2022, the Company amended the First Lien Term Loan to replace the LIBOR-based rate with a SOFR-based rate as the interest rate benchmark. Interest on the First Lien Term Loan is based on, at the Company’s option, either a base rate or Term SOFR plus the credit spread adjustment recommended by the Alternative Reference Rates Committee ("Adjusted Term SOFR"), subject to a 0.75% floor, payable upon maturity of the SOFR contract, in either case plus the applicable rate. The base rate is the greater of the bank prime rate, federal funds effective rate plus 0.5% or Adjusted Term SOFR plus 1.0%. The applicable rate is 2.25% per annum for a base rate loan or 3.25% per annum for an Adjusted Term SOFR loan. Principal and interest payments commenced on June 30, 2021. Principal payments are normally $4.25 million quarterly.

The Company voluntarily prepaid $35.0 million and $25.0 million of the First Lien Term Loan using existing cash on hand in March 2023 and May 2023, respectively. The repayments were applied to the remaining principal payments in order of scheduled payment date and, as a result, the entire remaining balance was included in senior secured credit facilities, net, excluding current portion in the consolidated balance sheets as of July 29, 2023. The Company accounted for the repayments as partial extinguishments and recognized losses on debt extinguishment of $0.3 million and $0.7 million during the thirteen and twenty-six week periods ended July 29, 2023, respectively. In August 2023, the Company repaid $15.0 million on the First Lien Term Loan using existing cash on hand. The repayment was applied to remaining principal payments in order of scheduled payment date.

As of July 29, 2023, the outstanding principal balance of the First Lien Term Loan was $1,610.3 million ($1,591.5 million, net of the unamortized discount and debt issuance costs). As of January 28, 2023, the outstanding principal balance of the First Lien Term Loan was $1,670.3 million ($1,648.9 million, net of the unamortized discount and debt issuance costs). The weighted average interest rate on the borrowings outstanding was 8.9% and 8.2% as of July 29, 2023 and January 28, 2023, respectively. Debt issuance costs are being amortized over the contractual term to interest expense using the effective interest rate in effect at issuance. As of July 29, 2023 and January 28, 2023, the estimated fair value of the First Lien Term Loan was approximately $1,604.3 million and $1,649.4 million, respectively, based upon Level 2 fair value hierarchy inputs.

Revolving Credit Facilities

As of July 29, 2023 and January 28, 2023, no amounts were outstanding under the ABL Revolving Credit Facility. As of July 29, 2023, $446.4 million was available under the ABL Revolving Credit Facility, which is net of $53.6 million of outstanding letters of credit issued in the normal course of business and no borrowing base reduction for a shortfall in qualifying assets. As of July 29, 2023 and January 28, 2023, unamortized debt issuance costs of $3.0 million and $3.6 million, respectively, relating to the ABL Revolving Credit Facility were outstanding and were being amortized using the straight-line method over the remaining term of the agreement.

The ABL Revolving Credit Facility has availability up to $500.0 million and a $150.0 million letter of credit sub-facility. The availability is limited to a borrowing base, which allows borrowings of up to 90% of eligible accounts receivable plus 90% of the net orderly liquidation value of eligible inventory plus up to $50.0 million of qualified cash of the Company to which the Company and guarantors have no access, less reserves as determined by the administrative agent. Letters of credit reduce the amount available to borrow under the ABL Revolving Credit Facility by their face value.

On December 12, 2022, the Company amended the ABL Revolving Credit Facility to replace the LIBOR-based rate with a SOFR-based rate as the interest rate benchmark. Interest on the ABL Revolving Credit Facility is based on, at the Company’s option, either the base rate or Adjusted Term SOFR subject to a floor of 0%, in either case, plus an applicable margin. The applicable margin is currently equal to 25 basis points in the case of base rate loans and 125 basis points in the case of Adjusted Term SOFR loans.


Average Historical Excess Availability	Applicable Margin for Adjusted Term SOFR Loans			Applicable Margin for Base Rate Loans
Less than 33.3% of the Line Cap		1.75	%		0.75	%
Less than 66.7% but greater than or equal to 33.3% of the Line Cap		1.50	%		0.50	%
Greater than or equal to 66.7% of the Line Cap		1.25	%		0.25	%

The ABL Revolving Credit Facility is subject to an unused commitment fee. If the actual daily utilized portion exceeds 50%, the unused commitment fee is 0.25%. Otherwise, the unused commitment fee is 0.375% and is not dependent upon excess availability.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jul. 29, 2023

Accounting Policies [Abstract]

Schedule of Cash and Cash Equivalents and Restricted Cash


	July 29, 2023		January 28, 2023
Cash and cash equivalents	$	173,014	$	201,901
Restricted cash included in other current assets		3,395		11,826
Total cash, cash equivalents and restricted cash in the statement of cash flows	$	176,409	$	213,727

Stockholders' Equity

6 Months Ended

Jul. 29, 2023

Stockholders' Equity Note [Abstract]

Stockholders' Equity

6. Stockholders’ Equity

Equity-Based Compensation

Equity-based compensation awards under the Company’s current equity incentive plan (the “2021 Equity Incentive Plan”) include restricted stock units (“RSUs,” which include performance-based stock units), restricted stock awards (“RSAs”), non-qualified stock options, and other equity compensation awards. The Company also has an employee stock purchase plan (“ESPP”).

The Company’s controlling parent, Scooby LP, also maintains an incentive plan (the “2016 Incentive Plan”) under which it has awarded partnership unit awards to certain current and former employees, consultants, and non-employee directors of the Company that are restricted profit interests in Scooby LP subject to a distribution threshold (“Series C Units”).

The following table summarizes the Company’s equity-based compensation expense by award type (in thousands):


	Thirteen weeks ended				Twenty-six weeks ended
	July 29, 2023		July 30, 2022		July 29, 2023		July 30, 2022
RSUs and RSAs	$	16,778	$	8,690	$	31,274	$	15,157
Options		4,917		2,038		10,002		3,846
ESPP		423		315		854		612
Other awards		2,001		1,852		4,118		5,502
Total equity-based compensation expense	$	24,119	$	12,895	$	46,248	$	25,117

Activity under the 2021 Equity Incentive Plan was as follows (shares and dollars in thousands):


	RSUs and RSAs			Options
Nonvested/outstanding, January 28, 2023		7,802			7,814
Granted		7,343			—
Vested and delivered/exercised		(2,059	)		—
Forfeited/expired		(634	)		(67	)
Nonvested/outstanding, July 29, 2023		12,452			7,747
Unrecognized compensation expense as of July 29, 2023	$	118,638		$	21,873
Weighted average remaining expense period as of July 29, 2023	2.1 years			1.3 years

RSA activity has not been material and relates to an RSA of Class A common stock granted to an executive in March 2021. For this grant, 50% of the RSA vested on each of the first two anniversaries of the grant date. Unvested RSAs were not considered participating securities for earnings per share purposes, as any related dividends were forfeitable.

The ESPP allows eligible employees to contribute up to 15% of their base earnings towards purchases of Class A common stock, subject to an annual maximum. The purchase price will be 85% of the lower of (i) the fair market value of the stock on the associated lookback date and (ii) the fair market value of the stock on the last day of the related purchase period.

Series C Unit activity under the 2016 Incentive Plan was as follows (in thousands):


	Units
Outstanding, January 28, 2023		201,359
Granted		—
Forfeited		(847	)
Outstanding, July 29, 2023		200,512
Vested, July 29, 2023		172,814

No additional Series C Units have been or will be awarded following the Company’s initial public offering. As of July 29, 2023, unrecognized compensation expense related to the unvested portion of Scooby LP’s Series C Units was $6.1 million, which is expected to be recognized over a weighted average period of 1.1 years. In addition to acceleration upon a change in control, a portion of grantees’ Series C Units may vest upon certain levels of direct or indirect sales by Scooby LP of the Company’s Class A common stock, and all unvested Series C Units will fully accelerate in the event Scooby LP sells 90% of its direct or indirect holdings of the Company’s Class A common stock.

(Loss) Income Per Share

Potentially dilutive securities include potential Class A common shares related to outstanding stock options, unvested RSUs and RSAs, and the ESPP, calculated using the treasury stock method. The calculation of diluted shares outstanding excludes securities where the combination of the exercise or purchase price (in the case of

options and the ESPP) and the associated unrecognized compensation expense is greater than the average market price of Class A common shares because the inclusion of these securities would be anti-dilutive.

All outstanding equity awards were excluded from the calculation of diluted loss per Class A and B-1 common share in the twenty-six weeks ended July 29, 2023, as their effect would be antidilutive in a net loss period.

There were approximately 5.3 million potential shares that were anti-dilutive and excluded from the computation of diluted shares outstanding during the twenty-six weeks ended July 30, 2022.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
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-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Revenue Recognition (Tables)

6 Months Ended

Jul. 29, 2023

Revenue from Contract with Customer [Abstract]

Summary of Net Sales by Product Type and Services

Net sales by product type and services were as follows (in thousands):


	Thirteen weeks ended				Twenty-six weeks ended
	July 29, 2023		July 30, 2022		July 29, 2023		July 30, 2022
Consumables	$	734,077	$	687,068	$	1,497,128	$	1,372,998
Supplies and companion animals		544,521		600,711		1,098,066		1,199,890
Services and other		252,136		193,018		491,448		383,900
Net sales	$	1,530,734	$	1,480,797	$	3,086,642	$	2,956,788

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 29, 2023	Jul. 30, 2022	Jul. 29, 2023	Jul. 30, 2022
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (14,606)	$ 13,456	$ (16,498)	$ 37,258
Net loss attributable to noncontrolling interest				(891)
Net (loss) income attributable to Class A and B-1 common stockholders	(14,606)	13,456	(16,498)	38,149
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	1,107	(775)	2,164	(2,373)
Unrealized gain on derivatives	3,915		2,931
Losses on derivatives reclassified to income	361		794
Total other comprehensive income (loss), net of tax	5,383	(775)	5,889	(2,373)
Comprehensive (loss) income	(9,223)	12,681	(10,609)	34,885
Comprehensive loss attributable to noncontrolling interest				(891)
Comprehensive (loss) income attributable to Class A and B-1 common stockholders	$ (9,223)	$ 12,681	$ (10,609)	$ 35,776

Fair Value Measurements - Schedule of Information About Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Recurring - USD ($) $ in Thousands	Jul. 29, 2023	Jan. 28, 2023
Level 1 \| Money Market Mutual Funds
Assets (liabilities):
Asset fair value	$ 118,915	$ 156,626
Level 1 \| Investments of Officers' Life Insurance
Assets (liabilities):
Asset fair value	0	0
Level 1 \| Investment in Rover Group, Inc.
Assets (liabilities):
Asset fair value		20,152
Level 1 \| Interest Related to Rover Group, Inc.
Assets (liabilities):
Asset fair value	0
Level 2 \| Money Market Mutual Funds
Assets (liabilities):
Asset fair value	0	0
Level 2 \| Investments of Officers' Life Insurance
Assets (liabilities):
Asset fair value	14,281	13,112
Level 2 \| Investment in Rover Group, Inc.
Assets (liabilities):
Asset fair value		0
Level 2 \| Interest Related to Rover Group, Inc.
Assets (liabilities):
Asset fair value	0
Level 3 \| Money Market Mutual Funds
Assets (liabilities):
Asset fair value	0	0
Level 3 \| Investments of Officers' Life Insurance
Assets (liabilities):
Asset fair value	0	0
Level 3 \| Investment in Rover Group, Inc.
Assets (liabilities):
Asset fair value		0
Level 3 \| Interest Related to Rover Group, Inc.
Assets (liabilities):
Asset fair value	0
Non-qualified Deferred Compensation Plan \| Level 1
Assets (liabilities):
Liabilities fair value	0	0
Non-qualified Deferred Compensation Plan \| Level 2
Assets (liabilities):
Liabilities fair value	20,200	(18,464)
Non-qualified Deferred Compensation Plan \| Level 3
Assets (liabilities):
Liabilities fair value	$ 0	$ 0

Senior Secured Credit Facilities - Applicable Margin for Adjusted LIBOR Loans and Base Rate Loans based on Average Historical Excess Availability (Parenthetical) (Details) - Amended Revolving Credit Facility	6 Months Ended
	Jul. 29, 2023
Less than 33.3% of the Line Cap \| Applicable Margin for Adjusted SOFR Loans \| Maximum
Line Of Credit Facility [Line Items]
Percentage of average historical excess availability of loans	33.30%
Less than 33.3% of the Line Cap \| Applicable Margin for Base Rate Loans \| Maximum
Line Of Credit Facility [Line Items]
Percentage of average historical excess availability of loans	33.30%
Less than 66.7% but Greater than or Equal to 33.3% of the Line Cap \| Applicable Margin for Adjusted SOFR Loans \| Maximum
Line Of Credit Facility [Line Items]
Percentage of average historical excess availability of loans	66.70%
Less than 66.7% but Greater than or Equal to 33.3% of the Line Cap \| Applicable Margin for Adjusted SOFR Loans \| Minimum
Line Of Credit Facility [Line Items]
Percentage of average historical excess availability of loans	33.30%
Less than 66.7% but Greater than or Equal to 33.3% of the Line Cap \| Applicable Margin for Base Rate Loans \| Maximum
Line Of Credit Facility [Line Items]
Percentage of average historical excess availability of loans	66.70%
Less than 66.7% but Greater than or Equal to 33.3% of the Line Cap \| Applicable Margin for Base Rate Loans \| Minimum
Line Of Credit Facility [Line Items]
Percentage of average historical excess availability of loans	33.30%
Greater than or Equal to 66.7% of the Line Cap \| Applicable Margin for Adjusted SOFR Loans \| Minimum
Line Of Credit Facility [Line Items]
Percentage of average historical excess availability of loans	66.70%
Greater than or Equal to 66.7% of the Line Cap \| Applicable Margin for Base Rate Loans \| Minimum
Line Of Credit Facility [Line Items]
Percentage of average historical excess availability of loans	66.70%

Derivative Instruments (Tables)

6 Months Ended

Jul. 29, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Cash Flow Hedges Reflected in Consolidated Balance Sheets

The cash flow hedges are reflected in the Company’s consolidated balance sheets as follows (in thousands):


Assets (Liabilities)	Balance sheet location	July 29, 2023			January 28, 2023
Current asset portion of cash flow hedges	Other current assets	$	4,402		$	—
Non-current asset portion of cash flow hedges	Other long-term assets		1,003			—
Current liability portion of cash flow hedges	Accrued expenses and other liabilities		—			(1,176	)
Non-current liability portion of cash flow hedges	Other long-term liabilities		(1,594	)		(1,717	)
Total cash flow hedges		$	3,811		$	(2,893	)

Senior Secured Credit Facilities - Additional Information (Details) - USD ($)			1 Months Ended			3 Months Ended	6 Months Ended
	Dec. 12, 2022	Mar. 04, 2021	Aug. 31, 2023	May 31, 2023	Mar. 31, 2023	Jul. 29, 2023	Jul. 29, 2023	Jan. 28, 2023
Line Of Credit Facility [Line Items]
Credit facility, covenant compliance							the Company was in compliance with its covenants under the First Lien Term Loan and the ABL Revolving Credit Facility.
Loss on debt extinguishment						$ (305,000)	$ (746,000)
Letter of credit sub facility						150,000,000.0	$ 150,000,000.0
Maximum borrowing capacity of eligible accounts receivable in percentage							90.00%
Borrowing capacity of net orderly liquidation value of eligible inventory in percentage							90.00%
Qualified cash						50,000,000.0	$ 50,000,000.0
Amended Term Loan Facility
Line Of Credit Facility [Line Items]
Weighted average interest rate								8.20%
First Lien Term Loan
Line Of Credit Facility [Line Items]
Borrowings under credit facility		$ 1,700,000,000
Debt instrument floor rate	0.75%
Quarterly principal payments	$ 4,250,000
Credit facility principal repaid				$ 25,000,000	$ 35,000,000
Outstanding principal balance, gross						1,610,300,000	1,610,300,000	$ 1,670,300,000
Outstanding principal balance, net of unamortized discount and debt issuance costs						$ 1,591,500,000	$ 1,591,500,000	1,648,900,000
Weighted average interest rate						8.90%	8.90%
First Lien Term Loan \| Subsequent Event
Line Of Credit Facility [Line Items]
Credit facility principal repaid			$ 15,000,000
First Lien Term Loan \| Level 2
Line Of Credit Facility [Line Items]
Estimated fair value of credit facility						$ 1,604,300,000	$ 1,604,300,000	1,649,400,000
First Lien Term Loan \| Base Rate
Line Of Credit Facility [Line Items]
Debt instrument basis spread on variable rate	0.50%
Applicable annual rate	2.25%
First Lien Term Loan \| Adjusted LIBOR
Line Of Credit Facility [Line Items]
Debt instrument basis spread on variable rate	1.00%
First Lien Term Loan \| Adjusted SOFR
Line Of Credit Facility [Line Items]
Applicable annual rate	3.25%
Amended Revolving Credit Facility
Line Of Credit Facility [Line Items]
Outstanding principal balance, net of unamortized discount and debt issuance costs								0
ABL Revolving Credit Facility
Line Of Credit Facility [Line Items]
Credit facility, initiation date		Mar. 04, 2021
Borrowings under credit facility		$ 500,000,000
Credit facility, maturity date							Mar. 04, 2026
Outstanding principal balance, net of unamortized discount and debt issuance costs						0	$ 0
Unamortized debt issuance costs						3,000,000	3,000,000	$ 3,600,000
Borrowings available under credit facility						446,400,000	446,400,000
Outstanding letters of credit						53,600,000	53,600,000
Borrowings base reduction						$ 0	0
Maximum borrowing capacity							$ 500,000,000.0
Amended Revolving Credit Facility
Line Of Credit Facility [Line Items]
Debt instrument floor rate							0.00%
Line of credit facility, unused commitment fee percentage							0.375%
Amended Revolving Credit Facility \| Actual Daily Utilized Portion Exceeds 50%
Line Of Credit Facility [Line Items]
Line of credit facility, unused commitment fee percentage							0.25%
Amended Revolving Credit Facility \| Base Rate
Line Of Credit Facility [Line Items]
Debt instrument basis spread on variable rate							0.25%
Amended Revolving Credit Facility \| LIBOR
Line Of Credit Facility [Line Items]
Debt instrument basis spread on variable rate							1.25%

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jul. 29, 2023	Jul. 30, 2022
Cash flows from operating activities:
Net (loss) income	$ (16,498)	$ 37,258
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	97,919	95,570
Amortization of debt discounts and issuance costs	2,446	2,456
Provision for deferred taxes	(11,002)	9,216
Equity-based compensation	46,248	25,117
Impairments, write-offs and losses on sale of fixed and other assets	1,035	1,369
Loss on partial extinguishment of debt	746
Amounts reclassified out of accumulated other comprehensive income (loss)	1,055
Income from equity method investees	(6,458)	(5,194)
Non-cash operating lease costs	211,576	210,946
Other non-operating (income) loss	(4,614)	9,945
Changes in assets and liabilities:
Receivables	(16,679)	10,856
Merchandise inventories	(23,011)	(48,225)
Prepaid expenses and other assets	(14,237)	(21,932)
Accounts payable and book overdrafts	97,062	12,626
Accrued salaries and employee benefits	1,221	(37,345)
Accrued expenses and other liabilities	(1,238)	5,148
Operating lease liabilities	(232,518)	(205,884)
Other long-term liabilities	1,212	(1,839)
Net cash provided by operating activities	134,265	100,088
Cash flows from investing activities:
Cash paid for fixed assets	(114,023)	(136,190)
Cash paid for acquisitions, net of cash acquired	(2,040)	(2,888)
Cash paid for interest in veterinary joint venture		(35,000)
Proceeds from investment	10,248
Proceeds from sale of assets		2,127
Net cash used in investing activities	(105,815)	(171,951)
Cash flows from financing activities:
Borrowings under long-term debt agreements		4,000
Repayments of long-term debt	(60,000)	(12,500)
Payments for finance lease liabilities	(3,349)	(2,964)
Proceeds from employee stock purchase plan and stock option exercises	2,454	2,591
Tax withholdings on stock-based awards	(4,873)	(13,461)
Net cash used in financing activities	(65,768)	(22,334)
Net decrease in cash, cash equivalents and restricted cash	(37,318)	(94,197)
Cash, cash equivalents and restricted cash at beginning of period	213,727	221,890
Cash, cash equivalents and restricted cash at end of period	176,409	127,693
Supplemental cash flow disclosures:
Interest paid, net	72,005	35,631
Capitalized interest		371
Income taxes paid	27,423	5,461
Supplemental non-cash investing and financing activities disclosure:
Accounts payable and accrued expenses for capital expenditures	$ 30,336	$ 41,343

Stockholders' Equity - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended	6 Months Ended
	Mar. 31, 2021	Jul. 29, 2023	Jul. 30, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Anti-dilutive shares excluded from computation of diluted shares outstanding			5,300,000
2016 Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of additional shares awarded		0
Unrecognized compensation expense related to the unvested portion		$ 6.1
Unrecognized compensation expense, expected to be recognized over weighted average period		1 year 1 month 6 days
Class A Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Employee stock purchase plan maximum percentage of earnings to purchase shares by eligible participants		15.00%
Purchase price as a percentage of the lesser of the market value of such shares at either the lookback date or last day of related purchase period		85.00%
Class A Common Stock \| 2016 Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Threshold percentage of direct and indirect holdings of common stock		90.00%
Class A Common Stock \| Executive
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	2 years
Class A Common Stock \| Anniversaries of Grant Date \| Executive
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of restricted shares vested	50.00%

Fair Value Measurements (Tables)

6 Months Ended

Jul. 29, 2023

Fair Value Disclosures [Abstract]

Schedule of Information About Assets and Liabilities Measured at Fair Value on Recurring Basis


	July 29, 2023
	Level 1		Level 2			Level 3
Assets (liabilities):
Money market mutual funds	$	118,915	$	—		$	—
Investments of officers' life insurance	$	—	$	14,281		$	—
Non-qualified deferred compensation plan	$	—	$	(20,200	)	$	—
Interest related to Rover Group, Inc.	$	—	$	—		$	14,518


	January 28, 2023
	Level 1		Level 2			Level 3
Assets (liabilities):
Money market mutual funds	$	156,626	$	—		$	—
Investments of officers' life insurance	$	—	$	13,112		$	—
Non-qualified deferred compensation plan	$	—	$	(18,464	)	$	—
Investment in Rover Group, Inc.	$	20,152	$	—		$	—

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 29, 2023	Jul. 30, 2022	Jul. 29, 2023	Jul. 30, 2022
Income Statement [Abstract]
Net sales	$ 1,530,734	$ 1,480,797	$ 3,086,642	$ 2,956,788
Cost of sales	937,730	886,320	1,889,156	1,754,637
Gross profit	593,004	594,477	1,197,486	1,202,151
Selling, general and administrative expenses	568,967	544,472	1,145,832	1,102,207
Operating income	24,037	50,005	51,654	99,944
Interest income	(764)	(137)	(1,940)	(157)
Interest expense	37,493	21,820	74,694	41,454
Loss on partial extinguishment of debt	305		746
Other non-operating (income) loss	(1,795)	10,259	(4,614)	9,945
(Loss) income before income taxes and income from equity method investees	(11,202)	18,063	(17,232)	48,702
Income tax expense	6,732	6,638	5,724	16,638
Income from equity method investees	(3,328)	(2,031)	(6,458)	(5,194)
Net (loss) income	(14,606)	13,456	(16,498)	37,258
Net loss attributable to noncontrolling interest				(891)
Net (loss) income attributable to Class A and B-1 common stockholders	$ (14,606)	$ 13,456	$ (16,498)	$ 38,149
Net (loss) income per Class A and B-1 common share:
Basic	$ (0.05)	$ 0.05	$ (0.06)	$ 0.14
Diluted	$ (0.05)	$ 0.05	$ (0.06)	$ 0.14
Weighted average shares used in computing net (loss) income per Class A and B-1 common share:
Basic	267,163	265,431	266,824	265,241
Diluted	267,163	265,835	266,824	265,777

Revenue Recognition

6 Months Ended

Jul. 29, 2023

Revenue from Contract with Customer [Abstract]

Revenue Recognition

2. Revenue Recognition

Net sales by product type and services were as follows (in thousands):


	Thirteen weeks ended				Twenty-six weeks ended
	July 29, 2023		July 30, 2022		July 29, 2023		July 30, 2022
Consumables	$	734,077	$	687,068	$	1,497,128	$	1,372,998
Supplies and companion animals		544,521		600,711		1,098,066		1,199,890
Services and other		252,136		193,018		491,448		383,900
Net sales	$	1,530,734	$	1,480,797	$	3,086,642	$	2,956,788

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Insider Trading Arrangements	6 Months Ended
Insider Trading Arrangements	Jul. 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

Derivative Instruments - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	12 Months Ended
	Jul. 29, 2023	Apr. 29, 2023	Jul. 29, 2023	Jan. 28, 2023
Derivative [Line Items]
Unrealized gain on derivatives	$ 3,915	$ (984)	$ 2,931
Interest Rate Caps
Derivative [Line Items]
Unrealized gains (losses) included in AOCI, before tax			2,200	$ 2,700
Pre-tax losses deferred in reclassified to interest expense	$ 500		1,100
Unrealized gain on derivatives			$ 1,700	2,100
Estimated losses on interest rate caps deferred in AOCI reclassified to interest expense				$ 3,200

- Definition

Amount before tax, after reclassification adjustments of other comprehensive income (loss).

+ References + Details