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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
May 04, 2024
Apr. 29, 2023
Cash Flows from Operating Activities:    
Net income $ 46,342 $ 30,980
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of property and equipment 9,742 8,025
Amortization of debt issuance costs 13 69
(Gain) loss on sale of assets (118) 5
Deferred income tax provision (249) 500
Stock-based compensation expense 3,149 2,863
Other (480) 0
Changes in operating assets and liabilities:    
Inventories (21,679) (27,454)
Accounts receivable 1,307 1,389
Prepaid expenses and other assets 1,348 1,692
Accounts payable (21,163) 12,655
Income taxes payable 14,483 9,420
Accrued expenses and other liabilities 7,489 (4,272)
Net cash provided by operating activities 40,184 35,872
Cash Flows from Investing Activities:    
Purchases of property and equipment (26,865) (19,010)
Proceeds from sale of property and equipment 140 64
Purchases of short-term investments (96,042) (85,365)
Maturities of short-term investments 54,252 5,000
Net cash used in investing activities (68,515) (99,311)
Cash Flows from Financing Activities:    
Repayments on finance leases (382) (242)
Proceeds from stock option exercises 2,548 1,592
Common shares withheld for taxes (2,840) (1,268)
Payment for shares repurchased (25,007) (12,280)
Net cash used in financing activities (25,681) (12,198)
Net decrease in cash and cash equivalents (54,012) (75,637)
Cash and cash equivalents, beginning of the period 266,262 210,596
Cash and cash equivalents, end of the period 212,250 134,959
Cash paid during the period for:    
Interest 110 116
Income taxes 222 333
Non-cash investing activities:    
Accrued purchases of property and equipment $ 6,379 $ 7,666