Property and Equipment, net

6 Months Ended

Jul. 28, 2024

Property, Plant and Equipment [Abstract]

The following is a summary of property and equipment, net (in thousands):


	As of
	July 28, 2024		January 28, 2024
Furniture, fixtures and equipment	$	192,970	$	174,092
Computer equipment	75,409		75,677
Internal-use software	207,127		183,380
Leasehold improvements	323,609		312,123
Construction in progress	85,916		82,014
	885,031		827,286
Less: accumulated depreciation and amortization	358,868		305,988
Property and equipment, net	$	526,163	$	521,298

Internal-use software includes labor and license costs associated with software development for internal use. As of July 28, 2024 and January 28, 2024, the Company had accumulated amortization related to internal-use software of $105.8 million and $87.5 million, respectively.

Construction in progress is stated at cost, which includes the cost of construction and other directly attributable costs. No provision for depreciation is made on construction in progress until the relevant assets are completed and put into use.

For the thirteen weeks ended July 28, 2024 and July 30, 2023, the Company recorded depreciation expense on property and equipment of $18.1 million and $19.7 million, respectively, and amortization expense related to internal-use software costs of $9.4 million and $7.2 million, respectively. For the twenty-six weeks ended July 28, 2024 and July 30, 2023, the Company recorded depreciation expense on property and equipment of $36.2 million and $41.0 million, respectively, and amortization expense related to internal-use software costs of $18.3 million and $13.8 million, respectively. The aforementioned depreciation and amortization expenses were included within selling, general and administrative expenses in the condensed consolidated statements of operations.