Assets Held for Sale

9 Months Ended

Nov. 01, 2025

Discontinued Operations and Disposal Groups [Abstract]

During the first quarter of 2025, management approved a plan to divest our operations in France. Accordingly, all relevant assets and liabilities associated with these operations were reclassified to held for sale in our Condensed Consolidated Balance Sheets, and as of November 1, 2025 are as follows:



	November 1, 2025
Assets Held for Sale
Cash and cash equivalents	$	8.5

Receivables, net	7.9
Merchandise inventories, net	105.8
Prepaid expenses and other current assets	11.1
Property and equipment, net	12.5
Operating lease right-of-use-assets	56.8
Other noncurrent assets	14.9

Total assets held for sale (gross)	217.5
Less: Impairment loss	(23.4)
Total assets held for sale (net) as of November 1, 2025	$	194.1

Liabilities held for sale
Current liabilities	$	132.0
Noncurrent liabilities	48.5
Total liabilities held for sale as of November 1, 2025	$	180.5

Based on the expected fair value of this business, net of our costs to sell this business, we recognized an impairment on assets held for sale for the French disposal group of $17.2 million in the first quarter of fiscal 2025. During the second and third quarters of fiscal 2025 we recognized an asset impairment reversal of $2.1 million and an impairment expense $8.0 million, respectively, resulting from the remeasurement of the carrying value of the French disposal group compared to its fair value, including related amounts in Accumulated other comprehensive income.