Williams-Sonoma (WSM) 10-Q28 Nov 232023 Q3 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	9 Months Ended
Cover Page - shares	Oct. 29, 2023	Nov. 26, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 29, 2023
Document Transition Report	false
Entity File Number	001-14077
Entity Registrant Name	WILLIAMS-SONOMA, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-2203880
Entity Address, Address Line One	3250 Van Ness Avenue
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94109
City Area Code	415
Local Phone Number	421-7900
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	WSM
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		64,144,519
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000719955
Current Fiscal Year End Date	--01-28

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 29, 2023	Oct. 30, 2022
Income Statement [Abstract]
Net revenues	$ 1,853,650	$ 2,192,574	$ 5,471,715	$ 6,221,338
Cost of goods sold	1,031,290	1,282,048	3,216,729	3,553,455
Gross profit	822,360	910,526	2,254,986	2,667,883
Selling, general and administrative expenses	507,283	570,893	1,468,884	1,639,248
Operating income	315,077	339,633	786,102	1,028,635
Interest income, net	7,182	370	16,015	877
Earnings before income taxes	322,259	340,003	802,117	1,029,512
Income taxes	84,974	88,280	206,794	256,601
Net earnings	$ 237,285	$ 251,723	$ 595,323	$ 772,911
Basic earnings per share (in USD per share)	$ 3.70	$ 3.77	$ 9.20	$ 11.27
Diluted earnings per share (in USD per share)	$ 3.66	$ 3.72	$ 9.12	$ 11.08
Shares used in calculation of earnings per share:
Basic (in shares)	64,142	66,704	64,718	68,578
Diluted (in shares)	64,774	67,617	65,298	69,782

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 29, 2023	Oct. 30, 2022
Statement of Comprehensive Income [Abstract]
Net earnings	$ 237,285	$ 251,723	$ 595,323	$ 772,911
Other comprehensive income (loss):
Foreign currency translation adjustments	(4,028)	(5,158)	(4,062)	(8,057)
Change in fair value of derivative financial instruments, net of tax	78	1,069	163	1,188
Reclassification adjustment for realized gains on derivative financial instruments, net of tax of $40, $45, $316, and $53	(114)	(128)	(896)	(151)
Comprehensive income	$ 233,221	$ 247,506	$ 590,528	$ 765,891

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 29, 2023	Oct. 30, 2022
Statement of Comprehensive Income [Abstract]
Change in fair value of derivative financial instruments, tax	$ 27	$ 378	$ 57	$ 420
Reclassification adjustment for realized (gain) loss on derivative financial instruments, tax	$ 40	$ 45	$ 316	$ 53

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 29, 2023	Jan. 29, 2023	Oct. 30, 2022
Current assets
Cash and cash equivalents	$ 698,807	$ 367,344	$ 113,058
Accounts receivable, net	124,238	115,685	125,842
Merchandise inventories, net	1,396,864	1,456,123	1,687,895
Prepaid expenses	100,045	64,961	104,208
Other current assets	27,381	31,967	29,729
Total current assets	2,347,335	2,036,080	2,060,732
Property and equipment, net	1,026,819	1,065,381	1,009,088
Operating lease right-of-use assets	1,235,425	1,286,452	1,277,064
Deferred income taxes, net	76,272	81,389	54,247
Goodwill	77,279	77,307	85,245
Other long-term assets, net	120,639	116,407	107,631
Total assets	4,883,769	4,663,016	4,594,007
Current liabilities
Accounts payable	675,505	508,321	720,856
Accrued expenses	203,958	247,594	275,381
Gift card and other deferred revenue	528,403	479,229	488,771
Income taxes payable	53,139	61,204	45,879
Operating lease liabilities	231,236	231,965	220,012
Other current liabilities	96,745	108,138	103,821
Total current liabilities	1,788,986	1,636,451	1,854,720
Long-term operating lease liabilities	1,163,631	1,211,693	1,208,074
Other long-term liabilities	117,918	113,821	118,279
Total liabilities	3,070,535	2,961,965	3,181,073
Commitments and contingencies – See Note F
Stockholders’ equity
Preferred stock: $0.01 par value; 7,500 shares authorized; none issued	0	0	0
Common stock: $0.01 par value; 253,125 shares authorized; 64,135, 66,226 and 66,556 shares issued and outstanding at October 29, 2023, January 29, 2023 and October 30, 2022, respectively	642	663	666
Additional paid-in capital	572,406	573,117	553,698
Retained earnings	1,260,216	1,141,819	877,157
Accumulated other comprehensive loss	(18,604)	(13,809)	(17,848)
Treasury stock, at cost: 6, 1 and 1 shares as of October 29, 2023, January 29, 2023 and October 30, 2022, respectively	(1,426)	(739)	(739)
Total stockholders’ equity	1,813,234	1,701,051	1,412,934
Total liabilities and stockholders’ equity	$ 4,883,769	$ 4,663,016	$ 4,594,007

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Oct. 29, 2023	Jan. 29, 2023	Oct. 30, 2022
Stockholders’ equity
Preferred stock, par value (in USD per share)	$ 0.01	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	7,500,000	7,500,000	7,500,000
Preferred stock, shares issued (in shares)	0	0	0
Common stock, par value (in USD per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	253,125,000	253,125,000	253,125,000
Common stock, shares issued (in shares)	64,135,000	66,226,000	66,556,000
Common stock, shares outstanding (in shares)	64,135,000	66,226,000	66,556,000
Treasury stock (in shares)	6,000	1,000	1,000

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands		Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Beginning balance (in shares) at Jan. 30, 2022			71,982,000
Beginning balance at Jan. 30, 2022		$ 1,664,207	$ 720	$ 600,942	$ 1,074,084	$ (10,828)	$ (711)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings		254,113			254,113
Foreign currency translation adjustments		(1,514)				(1,514)
Change in fair value of derivative financial instruments, net of tax		93				93
Reclassification adjustment for realized (gain) loss on derivative financial instruments, net of tax		(18)				(18)
Conversion/release of stock-based awards (in shares)	[1]		617,000
Conversion/release of stock-based awards	[1]	(78,508)	$ 6	(78,142)			(372)
Repurchase of common stock (in shares)			(3,380,000)
Repurchases of common stock		(501,075)	$ (33)	(18,590)	(482,452)
Reissuance of treasury stock under stock-based compensation plans	[1]	0		(344)	0		344
Stock-based compensation expense		28,339		28,339
Dividends declared		(55,893)			(55,893)
Ending balance (in shares) at May. 01, 2022			69,219,000
Ending balance at May. 01, 2022		1,309,744	$ 693	532,205	789,852	(12,267)	(739)
Beginning balance (in shares) at Jan. 30, 2022			71,982,000
Beginning balance at Jan. 30, 2022		1,664,207	$ 720	600,942	1,074,084	(10,828)	(711)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings		772,911
Foreign currency translation adjustments		(8,057)
Change in fair value of derivative financial instruments, net of tax		1,188
Reclassification adjustment for realized (gain) loss on derivative financial instruments, net of tax		(151)
Ending balance (in shares) at Oct. 30, 2022			66,556,000
Ending balance at Oct. 30, 2022		1,412,934	$ 666	553,698	877,157	(17,848)	(739)
Beginning balance (in shares) at May. 01, 2022			69,219,000
Beginning balance at May. 01, 2022		1,309,744	$ 693	532,205	789,852	(12,267)	(739)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings		267,075			267,075
Foreign currency translation adjustments		(1,385)				(1,385)
Change in fair value of derivative financial instruments, net of tax		26				26
Reclassification adjustment for realized (gain) loss on derivative financial instruments, net of tax		(5)				(5)
Conversion/release of stock-based awards (in shares)	[1]		26,000
Conversion/release of stock-based awards	[1]	(767)		(767)
Repurchase of common stock (in shares)			(2,188,000)
Repurchases of common stock		(265,349)	$ (22)	(12,519)	(252,808)
Stock-based compensation expense		22,976		22,976
Dividends declared		(54,036)			(54,036)
Ending balance (in shares) at Jul. 31, 2022			67,057,000
Ending balance at Jul. 31, 2022		1,278,279	$ 671	541,895	750,083	(13,631)	(739)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings		251,723			251,723
Foreign currency translation adjustments		(5,158)				(5,158)
Change in fair value of derivative financial instruments, net of tax		1,069				1,069
Reclassification adjustment for realized (gain) loss on derivative financial instruments, net of tax		(128)				(128)
Conversion/release of stock-based awards (in shares)	[2]		13,000
Conversion/release of stock-based awards	[2]	(1,156)		(1,156)
Repurchase of common stock (in shares)			(514,000)
Repurchases of common stock		(74,531)	$ (5)	(3,010)	(71,516)
Stock-based compensation expense		15,969		15,969
Dividends declared		(53,133)			(53,133)
Ending balance (in shares) at Oct. 30, 2022			66,556,000
Ending balance at Oct. 30, 2022		1,412,934	$ 666	553,698	877,157	(17,848)	(739)
Beginning balance (in shares) at Jan. 29, 2023			66,226,000
Beginning balance at Jan. 29, 2023		1,701,051	$ 663	573,117	1,141,819	(13,809)	(739)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings		156,531			156,531
Foreign currency translation adjustments		(2,205)				(2,205)
Change in fair value of derivative financial instruments, net of tax		242				242
Reclassification adjustment for realized (gain) loss on derivative financial instruments, net of tax		(486)				(486)
Conversion/release of stock-based awards (in shares)	[2]		498,000
Conversion/release of stock-based awards	[2]	(49,518)	$ 5	(49,322)			(201)
Repurchase of common stock (in shares)	[3]		(2,502,000)
Repurchases of common stock	[3]	(302,401)	$ (25)	(14,803)	(286,573)		(1,000)
Reissuance of treasury stock under stock-based compensation plans	[2]	0		(334)	(180)		514
Stock-based compensation expense		23,282		23,282
Dividends declared		(59,671)			(59,671)
Ending balance (in shares) at Apr. 30, 2023			64,222,000
Ending balance at Apr. 30, 2023		1,466,825	$ 643	531,940	951,926	(16,258)	(1,426)
Beginning balance (in shares) at Jan. 29, 2023			66,226,000
Beginning balance at Jan. 29, 2023		1,701,051	$ 663	573,117	1,141,819	(13,809)	(739)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings		595,323
Foreign currency translation adjustments		(4,062)
Change in fair value of derivative financial instruments, net of tax		163
Reclassification adjustment for realized (gain) loss on derivative financial instruments, net of tax		(896)
Ending balance (in shares) at Oct. 29, 2023			64,135,000
Ending balance at Oct. 29, 2023		1,813,234	$ 642	572,406	1,260,216	(18,604)	(1,426)
Beginning balance (in shares) at Apr. 30, 2023			64,222,000
Beginning balance at Apr. 30, 2023		1,466,825	$ 643	531,940	951,926	(16,258)	(1,426)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings		201,507			201,507
Foreign currency translation adjustments		2,171				2,171
Change in fair value of derivative financial instruments, net of tax		(157)				(157)
Reclassification adjustment for realized (gain) loss on derivative financial instruments, net of tax		(296)				(296)
Conversion/release of stock-based awards (in shares)	[2]		13,000
Conversion/release of stock-based awards	[2]	(432)		(432)
Repurchase of common stock (in shares)	[3]		(90,000)
Repurchases of common stock	[3]	(10,096)	$ (1)	(548)	(9,547)
Stock-based compensation expense		20,547		20,547
Dividends declared		(59,114)			(59,114)
Ending balance (in shares) at Jul. 30, 2023			64,145,000
Ending balance at Jul. 30, 2023		1,620,955	$ 642	551,507	1,084,772	(14,540)	(1,426)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings		237,285			237,285
Foreign currency translation adjustments		(4,028)				(4,028)
Change in fair value of derivative financial instruments, net of tax		78				78
Reclassification adjustment for realized (gain) loss on derivative financial instruments, net of tax		(114)				(114)
Conversion/release of stock-based awards (in shares)	[2]		11,000
Conversion/release of stock-based awards	[2]	(1,159)		(1,159)
Repurchase of common stock (in shares)			(21,000)
Repurchases of common stock		(3,014)	$ 0	(131)	(2,883)
Stock-based compensation expense		22,189		22,189
Dividends declared		(58,958)			(58,958)
Ending balance (in shares) at Oct. 29, 2023			64,135,000
Ending balance at Oct. 29, 2023		$ 1,813,234	$ 642	$ 572,406	$ 1,260,216	$ (18,604)	$ (1,426)

[1]Amounts are shown net of shares withheld for employee taxes[2]Amounts are shown net of shares withheld for employee taxes.[3]Repurchases of common stock include accrued excise taxes of $2.5 million as of October 29, 2023, which is recorded in retained earnings.

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Oct. 29, 2023	Oct. 30, 2022
Cash flows from operating activities:
Net earnings	$ 595,323	$ 772,911
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization	166,027	157,410
Loss on disposal/impairment of assets	19,143	5,738
Non-cash lease expense	186,764	169,602
Deferred income taxes	(7,993)	(10,494)
Tax benefit related to stock-based awards	12,455	11,172
Stock-based compensation expense	66,435	67,797
Other	(2,411)	(2,170)
Changes in:
Accounts receivable	(8,928)	5,288
Merchandise inventories	56,770	(443,812)
Prepaid expenses and other assets	(35,857)	(39,737)
Accounts payable	164,958	98,103
Accrued expenses and other liabilities	(48,978)	(34,157)
Gift card and other deferred revenue	49,878	42,005
Operating lease liabilities	(200,168)	(177,855)
Income taxes payable	(8,005)	(33,276)
Net cash provided by operating activities	1,005,413	588,525
Cash flows from investing activities:
Purchases of property and equipment	(134,830)	(234,378)
Other	402	100
Net cash used in investing activities	(134,428)	(234,278)
Cash flows from financing activities:
Repurchases of common stock	(313,001)	(840,955)
Payment of dividends	(174,571)	(165,254)
Tax withholdings related to stock-based awards	(51,108)	(80,431)
Net cash used in financing activities	(538,680)	(1,086,640)
Effect of exchange rates on cash and cash equivalents	(842)	(4,887)
Net increase (decrease) in cash and cash equivalents	331,463	(737,280)
Cash and cash equivalents at beginning of period	367,344	850,338
Cash and cash equivalents at end of period	$ 698,807	$ 113,058

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - (Parenthetical) $ in Millions	9 Months Ended
	Oct. 29, 2023 USD ($)
Statement of Stockholders' Equity [Abstract]
Excise taxes	$ 2.5

FINANCIAL STATEMENTS - BASIS OF

FINANCIAL STATEMENTS - BASIS OF PRESENTATION	9 Months Ended
FINANCIAL STATEMENTS - BASIS OF PRESENTATION	Oct. 29, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
FINANCIAL STATEMENTS - BASIS OF PRESENTATION	FINANCIAL STATEMENTS - BASIS OF PRESENTATION These financial statements include Williams-Sonoma, Inc. and its wholly owned subsidiaries ("Company," “we,” “us” or “our”). The Condensed Consolidated Balance Sheets as of October 29, 2023 and October 30, 2022, the Condensed Consolidated Statements of Earnings, the Condensed Consolidated Statements of Comprehensive Income, and the Condensed Consolidated Statements of Stockholders’ Equity for the thirteen and thirty-nine weeks then ended and the Condensed Consolidated Statements of Cash Flows for the thirty-nine weeks then ended, have been prepared by us, and have not been audited. In our opinion, the financial statements include all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position at the balance sheet dates and the results of operations for the thirteen and thirty-nine weeks then ended. Intercompany transactions and accounts have been eliminated in our consolidation. The balance sheet as of January 29, 2023, presented herein, has been derived from our audited Consolidated Balance Sheet included in our Annual Report on Form 10-K for the fiscal year ended January 29, 2023. The results of operations for the thirteen and thirty-nine weeks ended October 29, 2023 are not necessarily indicative of the operating results of the full year. Certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been omitted. These financial statements should be read in conjunction with the Consolidated Financial Statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended January 29, 2023. Beginning in fiscal 2021 and continuing through fiscal 2022, global supply chain disruptions caused delays in inventory receipts and backorder delays, increased raw material costs, and higher shipping-related charges. These disruptions improved in the fourth quarter of fiscal 2022. However, the costs from these supply chain challenges impacted our Condensed Consolidated Statement of Earnings in the first half of fiscal 2023. Reclassifications Certain amounts reported in our Condensed Consolidated Balance Sheets as of January 29, 2023 and October 30, 2022 have been reclassified in order to conform to the current period presentation. These reclassifications impacted deferred lease incentives and other long-term liabilities. Other long-term liabilities include deferred lease incentives of $8.9 million, $10.0 million and $13.9 million as of October 29, 2023, January 29, 2023 and October 30, 2022, respectively. There was no change in total liabilities as a result of these reclassifications. Additionally, certain amounts reported in our Condensed Consolidated Statement of Cash Flows for the thirty-nine weeks ended October 30, 2022 have been reclassified in order to conform to the current period presentation. These reclassifications impacted amortization of deferred lease incentives and the line item for all other adjustments within operating activities. Other adjustments include amortization of deferred lease incentives of $1.7 million and $2.4 million for the thirty-nine weeks ended October 29, 2023 and October 30, 2022, respectively. There was no change in net cash provided by operating activities as a result of these reclassifications. Recently Issued Accounting Pronouncements In March 2020, January 2021 and December 2022, the FASB issued accounting standards update ("ASU") 2020-04, Reference Rate Reform (Topic 848), ASU-2021-01, Reference Rate Reform (Topic 848), Scope and ASU-2022-06, Reference Rate Reform (Topic 848), Deferral of the Sunset Date of Topic 848, respectively. Together, the ASUs are intended to ease the potential accounting and financial reporting burden of reference rate reform, including the market transition from the London Interbank Offered Rate ("LIBOR") and other interbank offered rates to alternative reference rates. The guidance provides optional expedients and scope exceptions for transactions if certain criteria are met. These transactions include contract modifications, hedge accounting, and the sale or transfer of debt securities classified as held-to-maturity. We may elect to apply the provisions of the new standard prospectively through December 31, 2024. Unlike other topics, the provisions of this update are only available until December 31, 2024, by which time the reference rate replacement activity is expected to be completed. We have transitioned our basis for establishing interest rates for certain borrowings under our Credit Facility from LIBOR to the Secured Overnight Financing Rate ("SOFR"). As we no longer have transactions that could qualify for these optional expedients and scope exceptions, the provisions of the new standard are no longer applicable. In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the Securities and Exchange Commission’s ("SEC") Disclosure Update and Simplification Initiati ve. The amendments in this update modify the disclosure or presentation requirements of a variety of Topics in the Accounting Standards Codification ("ASC") in response to the SEC’s Release No. 33-10532, Disclosure Update and Simplification Initiative , and align the ASC’s

BORROWING ARRANGEMENTS

BORROWING ARRANGEMENTS	9 Months Ended
BORROWING ARRANGEMENTS	Oct. 29, 2023
Debt Disclosure [Abstract]
BORROWING ARRANGEMENTS	BORROWING ARRANGEMENTS Credit Facility We have a credit facility (the "Credit Facility") which provides for a $500 million unsecured revolving line of credit (the “Revolver”). Our Revolver may be used to borrow revolving loans or request the issuance of letters of credit. We may, upon notice to the administrative agent, request existing or new lenders, at such lenders’ option, to increase the Revolver by up to $250 million to provide for a total of up to $750 million of unsecured revolving credit. During the thirteen and thirty-nine weeks ended October 29, 2023 and October 30, 2022, we had no borrowings under our Revolver. Additionally, as of October 29, 2023, issued but undrawn standby letters of credit of $11.1 million were outstanding under our Revolver. The standby letters of credit were primarily issued to secure the liabilities associated with workers’ compensation and other insurance programs. Our Revolver matures on September 30, 2026, at which time all outstanding borrowings must be repaid and all outstanding letters of credit must be cash collateralized. We may elect to extend the maturity date, subject to lender approval. The Credit Facility was amended in June 2023 to replace the LIBOR with the SOFR as the basis for establishing the interest rate applicable to certain borrowings under the agreement. The interest rate applicable to our Revolver is variable and may be elected by us as: (i) the SOFR plus 10 basis points and an applicable margin based on our leverage ratio, ranging from 0.91% to 1.775% or (ii) a base rate as defined in our Credit Facility, plus an applicable margin based on our leverage ratio, ranging from 0% to 0.775%. Our Credit Facility contains certain restrictive loan covenants, including, among others, a financial covenant requiring a maximum leverage ratio (funded debt adjusted for operating lease liabilities to earnings before interest, income tax, depreciation, amortization and rent expense), and covenants limiting our ability to incur indebtedness, grant liens, make acquisitions, merge or consolidate, and dispose of assets. As of October 29, 2023, we were in compliance with our financial covenants under our Credit Facility and, based on current projections, we expect to remain in compliance throughout the next 12 months. Letter of Credit Facilities We have three unsecured letter of credit reimbursement facilities for a total of $35 million. Our letter of credit facilities contain covenants that are consistent with our Credit Facility. Interest on unreimbursed amounts under our letter of credit facilities accrues at a base rate as defined in our Credit Facility, plus an applicable margin based on our leverage ratio. As of October 29, 2023, the aggregate amount outstanding under our letter of credit facilities was $1.2 million, which represents a future commitment to fund inventory purchases to which we had not taken legal title. On August 18, 2023, we renewed two of the letter of credit facilities totaling $30 million on substantially similar terms. The two letter of credit facilities mature on August 18, 2024, and the latest expiration date possible for future letters of credit issued under these facilities is January 15, 2025. One of the letter of credit facilities totaling $5 million matures on September 30, 2026, which is also the latest expiration date possible for future letters of credit issued under the facility.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
STOCK-BASED COMPENSATION	Oct. 29, 2023
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Equity Award Programs Our Amended and Restated 2001 Long-Term Incentive Plan (the “Plan”) provides for grants of incentive stock options, nonqualified stock options, stock-settled stock appreciation rights, restricted stock awards, restricted stock units (including those that are performance-based), deferred stock awards (collectively, “stock awards”) and dividend equivalents up to an aggregate of 42.7 million shares. As of October 29, 2023, there were approximately 5.1 million shares available for future grant. Awards may be granted under our Plan to officers, employees and non-employee members of the Board of Directors of the Company (the “Board”) or any parent or subsidiary. Shares issued as a result of award exercises or releases are primarily funded with the issuance of new shares. Stock Awards Annual grants of stock awards are limited to one million shares on a per person basis. Stock awards granted to employees generally vest evenly over a period of four years for service-based awards. Certain performance-based awards, which have variable payout conditions based on predetermined financial targets, generally vest three years from the date of grant. Certain stock awards and other agreements contain vesting acceleration clauses which cover events including, but not limited to, retirement, disability, death, merger or a similar corporate event. Stock awards granted to non-employee Board members generally vest in one year. Non-employee Board members automatically receive stock awards on the date of their initial election to the Board and annually thereafter on the date of the annual meeting of stockholders (so long as they continue to serve as a non-employee Board member). Non-employee directors may also elect, on terms prescribed by the Company, to receive all of their annual cash compensation to be earned in respect of the applicable fiscal year either in the form of (i) fully vested stock units or (ii) fully vested deferred stock units. Stock-Based Compensation Expense During the thirteen and thirty-nine weeks ended October 29, 2023, we recognized total stock-based compensation expense, as a component of selling, general and administrative ("SG&A") expenses of $22.2 million and $66.4 million, respectively. During the thirteen and thirty-nine weeks ended October 30, 2022, we recognized total stock-based compensation expense, as a component of SG&A expenses of $16.1 million and $67.8 million, respectively.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
EARNINGS PER SHARE	Oct. 29, 2023
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Basic earnings per share is computed as net earnings divided by the weighted average number of common shares outstanding for the period. Diluted earnings per share is computed as net earnings divided by the weighted average number of common shares outstanding and common stock equivalents outstanding for the period. Common stock equivalents consist of shares subject to stock-based awards to the extent their inclusion would be dilutive. The following is a reconciliation of net earnings and the number of shares used in the basic and diluted earnings per share computations: (In thousands, except per share amounts) Net Earnings Weighted Earnings Thirteen weeks ended October 29, 2023 Basic $ 237,285 64,142 $ 3.70 Effect of dilutive stock-based awards 632 Diluted $ 237,285 64,774 $ 3.66 Thirteen weeks ended October 30, 2022 Basic $ 251,723 66,704 $ 3.77 Effect of dilutive stock-based awards 913 Diluted $ 251,723 67,617 $ 3.72 Thirty-nine weeks ended October 29, 2023 Basic $ 595,323 64,718 $ 9.20 Effect of dilutive stock-based awards 580 Diluted $ 595,323 65,298 $ 9.12 Thirty-nine weeks ended October 30, 2022 Basic $ 772,911 68,578 $ 11.27 Effect of dilutive stock-based awards 1,204 Diluted $ 772,911 69,782 $ 11.08 The effect of anti-dilutive stock-based awards was not material for the thirteen and thirty-nine weeks ended October 29, 2023 and October 30, 2022, respectively.

SEGMENT REPORTING

SEGMENT REPORTING	9 Months Ended
SEGMENT REPORTING	Oct. 29, 2023
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING We identify our operating segments according to how our business activities are managed and evaluated. Each of our brands are operating segments. Because they share similar economic and other qualitative characteristics, we have aggregated our operating segments into a single reportable segment. The following table summarizes our net revenues by brand for the thirteen and thirty-nine weeks ended October 29, 2023 and October 30, 2022. For the Thirteen Weeks Ended 1 For the Thirty-nine Weeks Ended 1 (In thousands) October 29, 2023 October 30, 2022 October 29, 2023 October 30, 2022 Pottery Barn $ 777,475 $ 935,045 $ 2,331,497 $ 2,588,798 West Elm 466,360 599,802 1,402,859 1,744,013 Williams Sonoma 252,408 261,820 736,342 762,651 Pottery Barn Kids and Teen 276,715 299,112 748,923 810,243 Other 2 80,692 96,795 252,094 315,633 Total 3 $ 1,853,650 $ 2,192,574 $ 5,471,715 $ 6,221,338 1 Includes business-to-business net revenues within each brand. 2 Primarily consists of net revenues from Rejuvenation, our international franchise operations, Mark and Graham and GreenRow. 3 Includes net revenues related to our international operations (including our operations in Canada, our franchise businesses, and operations in Australia and the United Kingdom) of approximately $72.5 million and $94.7 million for the thirteen weeks ended October 29, 2023 and October 30, 2022, respectively, and approximately $225.3 million and $303.0 million for the thirty-nine weeks ended October 29, 2023 and October 30, 2022, respectively. Long-lived assets by geographic location, which excludes deferred income taxes, goodwill, and intangible assets, are as follows: As of (In thousands) October 29, 2023 October 30, 2022 U.S. $ 2,285,829 $ 2,287,912 International 85,256 95,368 Total $ 2,371,085 $ 2,383,280

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Oct. 29, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIESWe are involved in lawsuits, claims and proceedings incident to the ordinary course of our business. These disputes, which are not currently material, are increasing in number as our business expands and our company grows. We review the need for any loss contingency reserves and establish reserves when, in the opinion of management, it is probable that a matter would result in liability, and the amount of loss, if any, can be reasonably estimated. In view of the inherent difficulty of predicting the outcome of these matters, it may not be possible to determine whether any loss is probable or to reasonably estimate the amount of the loss until the case is close to resolution, in which case no reserve is established until that time. Any claims against us, whether meritorious or not, could result in costly litigation, require significant amounts of management time and result in the diversion of significant operational resources. The results of these lawsuits, claims and proceedings cannot be predicted with certainty. However, we believe that the ultimate resolution of these current matters will not have a material adverse effect on our Condensed Consolidated Financial Statements taken as a whole.

STOCK REPURCHASE PROGRAM AND DI

STOCK REPURCHASE PROGRAM AND DIVIDENDS	9 Months Ended
STOCK REPURCHASE PROGRAM AND DIVIDENDS	Oct. 29, 2023
Equity [Abstract]
STOCK REPURCHASE PROGRAM AND DIVIDENDS	STOCK REPURCHASE PROGRAM AND DIVIDENDS Stock Repurchase Program During the thirteen weeks ended October 29, 2023, we repurchased 21,434 shares of our common stock at an average cost of $140.01 per share for an aggregate cost of $3.0 million, excluding excise taxes on stock repurchases (net of issuances). During the thirty-nine weeks ended October 29, 2023, we repurchased 2,621,861 shares of our common stock at an average cost of $119.38 per share for an aggregate cost of $313.0 million, excluding excise taxes on stock repurchases (net of issuances) of $2.5 million. As of October 29, 2023, there was $687.0 million remaining under our current stock repurchase program. During the thirteen weeks ended October 30, 2022, we repurchased 513,940 shares of our common stock at an average cost of $145.02 per share for an aggregate cost of $74.6 million. During the thirty-nine weeks ended October 30, 2022, we repurchased 6,081,708 shares of our common stock at an average cost of $138.28 per share for an aggregate cost of $841.0 million. As of October 29, 2023 and October 30, 2022, we held treasury stock of $1.4 million and $0.7 million, respectively, that represents the cost of shares available for issuance intended to satisfy future stock-based award settlements in certain foreign jurisdictions. Stock repurchases under our program may be made through open market and privately negotiated transactions at times and in such amounts as management deems appropriate. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements, capital availability and other market conditions. Dividends We declared cash dividends of $0.90 and $0.78 per common share during the thirteen weeks ended October 29, 2023 and October 30, 2022, respectively. We declared cash dividends of $2.70 and $2.34 per common share during the thirty-nine weeks ended October 29, 2023 and October 30, 2022, respectively. Our quarterly cash dividend may be limited or terminated at any time.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	9 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS	Oct. 29, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS We have retail and e-commerce businesses in Canada, Australia and the United Kingdom, and operations throughout Asia and Europe, which expose us to market risk associated with foreign currency exchange rate fluctuations. Substantially all of our purchases and sales are denominated in U.S. dollars, which limits our exposure to this risk. However, some of our foreign operations have a functional currency other than the U.S. dollar. To mitigate this risk, we may hedge a portion of our foreign currency exposure with foreign currency forward contracts in accordance with our risk management policies. We do not enter into such contracts for speculative purposes. The assets or liabilities associated with the derivative financial instruments are measured at fair value and recorded in either other current assets or other current liabilities. As discussed below, the accounting for gains and losses resulting from changes in fair value depends on whether the derivative financial instrument is designated as a hedge and qualifies for hedge accounting in accordance with ASC 815, Derivatives and Hedging . Cash Flow Hedges We enter into foreign currency forward contracts designated as cash flow hedges (to sell Canadian dollars and purchase U.S. dollars) for forecasted inventory purchases in U.S. dollars by our Canadian subsidiary. These hedges have terms of up to 12 months. All hedging relationships are formally documented, and the forward contracts are designed to mitigate foreign currency exchange risk on hedged transactions. We record the effective portion of changes in the fair value of our cash flow hedges in other comprehensive income (“OCI”) until the earlier of when the hedged forecasted inventory purchase occurs or the respective contract reaches maturity. Subsequently, as the inventory is sold to the customer, we reclassify amounts previously recorded in OCI to cost of goods sold. Changes in the fair value of the forward contract related to interest charges (or forward points) are excluded from the assessment and measurement of hedge effectiveness and are recorded in cost of goods sold. Based on the rates in effect as of October 29, 2023, our reclassification of pre-tax gains or losses from OCI to cost of goods sold over the next 12 months is not expected to be material. As of October 29, 2023, we had no foreign currency forward contracts outstanding. As of October 30, 2022, we had foreign currency forward contracts outstanding (in U.S. dollars) with a notional amount of $19.5 million. Hedge effectiveness is evaluated prospectively at inception, on an ongoing basis, as well as retrospectively using regression analysis. Any measurable ineffectiveness of the hedge is recorded in SG&A expenses. No gain or loss was recognized for cash flow hedges due to hedge ineffectiveness and all hedges were deemed effective for assessment purposes for the thirteen and thirty-nine weeks ended October 29, 2023 and October 30, 2022. The effect of derivative instruments in our Condensed Consolidated Financial Statements from gains or losses recognized in income was not material for the thirteen and thirty-nine weeks ended October 29, 2023 and October 30, 2022. The fair values of our derivative financial instruments are presented in other current assets and/or other current liabilities in our Condensed Consolidated Balance Sheets. All fair values were measured using Level 2 inputs as defined by the fair value hierarchy described in Note I . We record all derivative assets and liabilities on a gross basis. They do not meet the balance sheet netting criteria as discussed in ASC 210, Balance Sheet , because we do not have master netting agreements established with our derivative counterparties that would allow for net settlement.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
FAIR VALUE MEASUREMENTS	Oct. 29, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Fair value is the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. We determine the fair value of financial and non-financial assets and liabilities using the fair value hierarchy established by ASC 820, Fair Value Measurement , which defines three levels of inputs that may be used to measure fair value, as follows: • Level 1: inputs which include quoted prices in active markets for identical assets or liabilities; • Level 2: inputs which include observable inputs other than Level 1 inputs, such as quoted prices in active markets for similar assets or liabilities; quoted prices for identical or similar assets or liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability; and • Level 3: inputs which include unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the underlying asset or liability. The fair values of our cash and cash equivalents are based on Level 1 inputs, which include quoted prices in active markets for identical assets. Foreign Currency Derivatives and Hedging Instruments We use the income approach to value our derivatives using observable Level 2 market data at the measurement date and standard valuation techniques to convert future amounts to a single present value amount, assuming that participants are motivated but not compelled to transact. Level 2 inputs are limited to quoted prices that are observable for the assets and liabilities, which include interest rates and credit risk ratings. We use mid-market pricing as a practical expedient for fair value measurements. Key inputs for foreign currency derivatives are the spot rates, forward rates, interest rates and credit derivative market rates. The counterparties associated with our foreign currency forward contracts are large credit-worthy financial institutions, and the derivatives transacted with these entities are relatively short in duration, therefore, we do not consider counterparty concentration and non-performance to be material risks at this time. Both we and our counterparties are expected to perform under the contractual terms of the instruments. None of the derivative contracts we entered into are subject to credit risk-related contingent features or collateral requirements. Long-lived Assets We review the carrying value of all long-lived assets for impairment, primarily at an individual store level, whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. We measure property and equipment at fair value on a nonrecurring basis using Level 3 inputs as defined in the fair value hierarchy. We measure right-of-use assets on a nonrecurring basis using Level 2 inputs that are corroborated by market data. Where Level 2 inputs are not readily available, we use Level 3 inputs. Fair value of these long-lived assets is based on the present value of estimated future cash flows using a discount rate commensurate with the risk. The significant unobservable inputs used in the fair value measurement of our store assets are sales growth/decline, gross margin, employment costs, lease escalations, market rental rates, changes in local real estate markets in which we operate, inflation and the overall economics of the retail industry. Significant fluctuations in any of these inputs individually could significantly impact our measurement of fair value. During the thirteen weeks ended October 29, 2023, we recognized impairment charges of $1.6 million, which consisted of (i) the write-down of leasehold improvements of four underperforming stores of $1.1 million and (ii) the write-down of operating lease right-of-use-assets of $0.5 million. During the thirty-nine weeks ended October 29, 2023, we recognized impairment charges of $13.0 million, which consisted of (i) the write-down of leasehold improvements of eight underperforming stores of $4.9 million, (ii) the write-down of operating lease right-of-use-assets of $4.4 million, and (iii) the write-off of property and equipment of $3.7 million resulting from the exit of Aperture, a division of our Outward, Inc. subsidiary. During the thirteen weeks ended October 30, 2022, no impairment charges were recognized. During the thirty-nine weeks ended October 30, 2022, we recognized impairment charges of $5.2 million, which consisted of (i) the write-down of leasehold improvements of underperforming stores of $2.6 million and (ii) the write-down of operating lease right-of-use-assets of $2.6 million. There were no transfers in and out of Level 3 categories during the thirteen and thirty-nine weeks ended October 29, 2023 and October 30, 2022.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	9 Months Ended
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	Oct. 29, 2023
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Changes in accumulated other comprehensive income (loss) by component, net of tax, are as follows: (In thousands) Foreign Currency Cash Flow Accumulated Other Balance at January 29, 2023 $ (14,458) $ 649 $ (13,809) Foreign currency translation adjustments (2,205) — (2,205) Change in fair value of derivative financial instruments — 242 242 Reclassification adjustment for realized (gain) loss on derivative financial instruments 1 — (486) (486) Other comprehensive income (loss) (2,205) (244) (2,449) Balance at April 30, 2023 $ (16,663) $ 405 $ (16,258) Foreign currency translation adjustments 2,171 — 2,171 Change in fair value of derivative financial instruments — (157) (157) Reclassification adjustment for realized (gain) loss on derivative financial instruments 1 — (296) (296) Other comprehensive income (loss) 2,171 (453) 1,718 Balance at July 30, 2023 $ (14,492) $ (48) $ (14,540) Foreign currency translation adjustments (4,028) — (4,028) Change in fair value of derivative financial instruments — 78 78 Reclassification adjustment for realized (gain) loss on derivative financial instruments 1 — (114) (114) Other comprehensive income (loss) (4,028) (36) (4,064) Balance at October 29, 2023 $ (18,520) $ (84) $ (18,604) Balance at January 30, 2022 $ (10,886) $ 58 $ (10,828) Foreign currency translation adjustments (1,514) — (1,514) Change in fair value of derivative financial instruments — 93 93 Reclassification adjustment for realized (gain) loss on derivative financial instruments 1 — (18) (18) Other comprehensive income (loss) (1,514) 75 (1,439) Balance at May 1, 2022 $ (12,400) $ 133 $ (12,267) Foreign currency translation adjustments (1,385) — (1,385) Change in fair value of derivative financial instruments — 26 26 Reclassification adjustment for realized (gain) loss on derivative financial instruments 1 — (5) (5) Other comprehensive income (loss) (1,385) 21 (1,364) Balance at July 31, 2022 $ (13,785) $ 154 $ (13,631) Foreign currency translation adjustments (5,158) — (5,158) Change in fair value of derivative financial instruments — 1,069 1,069 Reclassification adjustment for realized (gain) loss on derivative financial instruments 1 — (128) (128) Other comprehensive income (loss) (5,158) 941 (4,217) Balance at October 30, 2022 $ (18,943) $ 1,095 $ (17,848) 1 Refer to Note H

REVENUE

REVENUE	9 Months Ended
REVENUE	Oct. 29, 2023
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Merchandise Sales Revenues from the sale of our merchandise through our e-commerce channel, at our retail stores as well as to our business-to-business customers and franchisees are, in each case, recognized at a point in time when control of merchandise is transferred to the customer. Merchandise can either be picked up in our stores, or delivered to the customer. For merchandise picked up in the store, control is transferred at the time of the sale to the customer. For merchandise delivered to the customer, control is transferred either when delivery has been completed, or when we have a present right to payment which, for certain merchandise, occurs upon conveyance of the merchandise to the carrier for delivery. We exclude from revenue any taxes assessed by governmental authorities, including value-added and other sales-related taxes, that are imposed on and are concurrent with revenue-generating activities. Our payment terms are primarily at the point of sale for merchandise sales and for most services. We have elected to account for shipping and handling as fulfillment activities, and not as a separate performance obligation. Revenue from the sale of merchandise is reported net of sales returns. We estimate future returns based on historical return trends together with current product sales performance. As of October 29, 2023 and October 30, 2022, we recorded a liability for expected sales returns of approximately $47.1 million and $52.3 million, respectively, within other current liabilities and a corresponding asset for the expected net realizable value of the merchandise inventory to be returned of approximately $14.9 million and $15.8 million, respectively, within other current assets in our Condensed Consolidated Balance Sheets. See Note E for the disclosure of our net revenues by operating segment. Gift Card and Other Deferred Revenue We defer revenue and record a liability when cash payments are received in advance of satisfying performance obligations, primarily associated with our merchandise sales, stored-value cards, customer loyalty programs, and incentives received from credit card issuers. We issue stored-value cards that may be redeemed on future merchandise purchases. Our stored-value cards have no expiration dates. Revenue from stored-value cards is recognized at a point in time upon redemption of the card and as control of the merchandise is transferred to the customer. Breakage is recognized in a manner consistent with our historical redemption patterns over the estimated period of redemption of our cards of approximately four years, the majority of which is recognized within one year of the card issuance. Breakage revenue is not material to our Condensed Consolidated Financial Statements. We have customer loyalty programs, which allow members to earn points for each qualifying purchase. Customers can earn points through spend on both our private label and co-branded credit cards, or can earn points as part of our non-credit card related loyalty program. Points earned through both loyalty programs enable members to receive certificates that may be redeemed on future merchandise purchases. This customer option is a material right and, accordingly, represents a separate performance obligation to the customer. The allocated consideration for the points or certificates earned by our loyalty program members is deferred based on the standalone selling price of the points and recorded within gift card and other deferred revenue within our Condensed Consolidated Balance Sheet. The measurement of standalone selling prices takes into consideration the discount the customer would receive in a separate transaction for the delivered item, as well as our estimate of certificates expected to be issued and redeemed, based on historical patterns. This measurement is applied to our portfolio of performance obligations for points or certificates earned, as all obligations have similar economic characteristics. We believe the impact to our Condensed Consolidated Financial Statements would not be materially different if this measurement was applied to each individual performance obligation. Revenue is recognized for these performance obligations at a point in time when certificates are redeemed by the customer. These obligations relate to contracts with terms less than one year, as our certificates generally expire within six months from issuance. We enter into agreements with credit card issuers in connection with our private label and co-branded credit cards, whereby we receive cash incentives in exchange for promised services, such as licensing our brand names and marketing the credit card program to customers. These separate non-loyalty program related services promised under these agreements are interrelated and are thus considered a single performance obligation. Revenue is recognized over time as we transfer promised services throughout the contract term. As of October 29, 2023 and October 30, 2022, we had recorded $528.4 million and $488.8 million, respectively, for gift card and other deferred revenue within current liabilities in our Condensed Consolidated Balance Sheets.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Oct. 29, 2023	Jul. 30, 2023	Apr. 30, 2023	Oct. 30, 2022	Jul. 31, 2022	May 01, 2022	Oct. 29, 2023	Oct. 30, 2022
Pay vs Performance Disclosure
Net earnings	$ 237,285	$ 201,507	$ 156,531	$ 251,723	$ 267,075	$ 254,113	$ 595,323	$ 772,911

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
Insider Trading Arrangements	Oct. 29, 2023 shares	Oct. 29, 2023 shares
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	true
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	true
Non-Rule 10b5-1 Arrangement Terminated	false
Officer Trading Arrangement [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		During the third quarter of fiscal 2023, none of our directors or officers adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as those terms are defined in Regulation S-K, Item 408, except as described in the table below: Name & Title Date Adopted Character of Trading Arrangement 1 Aggregate Number of Shares of Common Stock to be Purchased or Sold Pursuant to Trading Arrangement Duration 2 Other Material Terms Date Terminated Laura Alber, Director, President and Chief Executive Officer October 10, 2023 Rule 10b5-1 Trading Arrangement Up to 120,000 shares to be sold January 17, 2025 N/A N/A 1 Except as indicated by footnote, each trading arrangement marked as a “Rule 10b5-1 Trading Arrangement” is intended to satisfy the affirmative defense of Rule 10b5-1(c), as amended (the “Rule”). 2 The Rule 10b5-1 Trading Arrangement permits transactions through and including the earlier to occur of (a) the completion of all purchases or sales or (b) the date listed in the table. The Rule 10b5-1 Trading Arrangement only permits transactions upon expiration of the applicable mandatory cooling-off period under the Rule. The Rule 10b5-1 Trading Arrangement also provides for automatic expiration in the event of written notice of death or legal incapacity, our filing of a bankruptcy petition, the closing of a merger, recapitalization, acquisition, tender or exchange offer, or other business combination or reorganization resulting in the exchange or conversion of our common stock into shares of another company, or the conversion of our common stock into rights to receive fixed amounts of cash or into debt securities and/or preferred stock (whether in whole or in part).
Officer Trading Arrangement [Member] \| Laura Alber [Member]
Trading Arrangements, by Individual
Name	Laura Alber
Title	Director, President and Chief Executive Officer
Adoption Date	October 10, 2023
Termination Date	January 17, 2025
Arrangement Duration	465 days
Aggregate Available	120,000	120,000

FINANCIAL STATEMENTS - BASIS _2

FINANCIAL STATEMENTS - BASIS OF PRESENTATION (Policies)	9 Months Ended
FINANCIAL STATEMENTS - BASIS OF PRESENTATION (Policies)	Oct. 29, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	These financial statements include Williams-Sonoma, Inc. and its wholly owned subsidiaries ("Company," “we,” “us” or “our”). The Condensed Consolidated Balance Sheets as of October 29, 2023 and October 30, 2022, the Condensed Consolidated Statements of Earnings, the Condensed Consolidated Statements of Comprehensive Income, and the Condensed Consolidated Statements of Stockholders’ Equity for the thirteen and thirty-nine weeks then ended and the Condensed Consolidated Statements of Cash Flows for the thirty-nine weeks then ended, have been prepared by us, and have not been audited. In our opinion, the financial statements include all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position at the balance sheet dates and the results of operations for the thirteen and thirty-nine weeks then ended. Intercompany transactions and accounts have been eliminated in our consolidation. The balance sheet as of January 29, 2023, presented herein, has been derived from our audited Consolidated Balance Sheet included in our Annual Report on Form 10-K for the fiscal year ended January 29, 2023. The results of operations for the thirteen and thirty-nine weeks ended October 29, 2023 are not necessarily indicative of the operating results of the full year. Certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been omitted. These financial statements should be read in conjunction with the Consolidated Financial Statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended January 29, 2023.
Reclassifications	Reclassifications Certain amounts reported in our Condensed Consolidated Balance Sheets as of January 29, 2023 and October 30, 2022 have been reclassified in order to conform to the current period presentation. These reclassifications impacted deferred lease incentives and other long-term liabilities. Other long-term liabilities include deferred lease incentives of $8.9 million, $10.0 million and $13.9 million as of October 29, 2023, January 29, 2023 and October 30, 2022, respectively. There was no change in total liabilities as a result of these reclassifications. Additionally, certain amounts reported in our Condensed Consolidated Statement of Cash Flows for the thirty-nine weeks ended October 30, 2022 have been reclassified in order to conform to the current period presentation. These reclassifications impacted amortization of deferred lease incentives and the line item for all other adjustments within operating activities. Other adjustments include amortization of deferred lease incentives of $1.7 million and $2.4 million for the thirty-nine weeks ended October 29, 2023 and October 30, 2022, respectively. There was no change in net cash provided by operating activities as a result of these reclassifications.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In March 2020, January 2021 and December 2022, the FASB issued accounting standards update ("ASU") 2020-04, Reference Rate Reform (Topic 848), ASU-2021-01, Reference Rate Reform (Topic 848), Scope and ASU-2022-06, Reference Rate Reform (Topic 848), Deferral of the Sunset Date of Topic 848, respectively. Together, the ASUs are intended to ease the potential accounting and financial reporting burden of reference rate reform, including the market transition from the London Interbank Offered Rate ("LIBOR") and other interbank offered rates to alternative reference rates. The guidance provides optional expedients and scope exceptions for transactions if certain criteria are met. These transactions include contract modifications, hedge accounting, and the sale or transfer of debt securities classified as held-to-maturity. We may elect to apply the provisions of the new standard prospectively through December 31, 2024. Unlike other topics, the provisions of this update are only available until December 31, 2024, by which time the reference rate replacement activity is expected to be completed. We have transitioned our basis for establishing interest rates for certain borrowings under our Credit Facility from LIBOR to the Secured Overnight Financing Rate ("SOFR"). As we no longer have transactions that could qualify for these optional expedients and scope exceptions, the provisions of the new standard are no longer applicable. In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the Securities and Exchange Commission’s ("SEC") Disclosure Update and Simplification Initiati ve. The amendments in this update modify the disclosure or presentation requirements of a variety of Topics in the Accounting Standards Codification ("ASC") in response to the SEC’s Release No. 33-10532, Disclosure Update and Simplification Initiative , and align the ASC’s
Cash Flow Hedges	Cash Flow Hedges We enter into foreign currency forward contracts designated as cash flow hedges (to sell Canadian dollars and purchase U.S. dollars) for forecasted inventory purchases in U.S. dollars by our Canadian subsidiary. These hedges have terms of up to 12 months. All hedging relationships are formally documented, and the forward contracts are designed to mitigate foreign currency exchange risk on hedged transactions. We record the effective portion of changes in the fair value of our cash flow hedges in other comprehensive income (“OCI”) until the earlier of when the hedged forecasted inventory purchase occurs or the respective contract reaches maturity. Subsequently, as the inventory is sold to the customer, we reclassify amounts previously recorded in OCI to cost of goods sold.
Foreign Currency Derivatives and Hedging Instruments	Foreign Currency Derivatives and Hedging Instruments We use the income approach to value our derivatives using observable Level 2 market data at the measurement date and standard valuation techniques to convert future amounts to a single present value amount, assuming that participants are motivated but not compelled to transact. Level 2 inputs are limited to quoted prices that are observable for the assets and liabilities, which include interest rates and credit risk ratings. We use mid-market pricing as a practical expedient for fair value measurements. Key inputs for foreign currency derivatives are the spot rates, forward rates, interest rates and credit derivative market rates. The counterparties associated with our foreign currency forward contracts are large credit-worthy financial institutions, and the derivatives transacted with these entities are relatively short in duration, therefore, we do not consider counterparty concentration and non-performance to be material risks at this time. Both we and our counterparties are expected to perform under the contractual terms of the instruments. None of the derivative contracts we entered into are subject to credit risk-related contingent features or collateral requirements. Long-lived Assets We review the carrying value of all long-lived assets for impairment, primarily at an individual store level, whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. We measure property and equipment at fair value on a nonrecurring basis using Level 3 inputs as defined in the fair value hierarchy. We measure right-of-use assets on a nonrecurring basis using Level 2 inputs that are corroborated by market data. Where Level 2 inputs are not readily available, we use Level 3 inputs. Fair value of these long-lived assets is based on the present value of estimated future cash flows using a discount rate commensurate with the risk. The significant unobservable inputs used in the fair value measurement of our store assets are sales growth/decline, gross margin, employment costs, lease escalations, market rental rates, changes in local real estate markets in which we operate, inflation and the overall economics of the retail industry. Significant fluctuations in any of these inputs individually could significantly impact our measurement of fair value.
Merchandise Sales and Gift Card and Other Deferred Revenue	Merchandise Sales Revenues from the sale of our merchandise through our e-commerce channel, at our retail stores as well as to our business-to-business customers and franchisees are, in each case, recognized at a point in time when control of merchandise is transferred to the customer. Merchandise can either be picked up in our stores, or delivered to the customer. For merchandise picked up in the store, control is transferred at the time of the sale to the customer. For merchandise delivered to the customer, control is transferred either when delivery has been completed, or when we have a present right to payment which, for certain merchandise, occurs upon conveyance of the merchandise to the carrier for delivery. We exclude from revenue any taxes assessed by governmental authorities, including value-added and other sales-related taxes, that are imposed on and are concurrent with revenue-generating activities. Our payment terms are primarily at the point of sale for merchandise sales and for most services. We have elected to account for shipping and handling as fulfillment activities, and not as a separate performance obligation. Gift Card and Other Deferred Revenue We defer revenue and record a liability when cash payments are received in advance of satisfying performance obligations, primarily associated with our merchandise sales, stored-value cards, customer loyalty programs, and incentives received from credit card issuers. We issue stored-value cards that may be redeemed on future merchandise purchases. Our stored-value cards have no expiration dates. Revenue from stored-value cards is recognized at a point in time upon redemption of the card and as control of the merchandise is transferred to the customer. Breakage is recognized in a manner consistent with our historical redemption patterns over the estimated period of redemption of our cards of approximately four years, the majority of which is recognized within one year of the card issuance. Breakage revenue is not material to our Condensed Consolidated Financial Statements. We have customer loyalty programs, which allow members to earn points for each qualifying purchase. Customers can earn points through spend on both our private label and co-branded credit cards, or can earn points as part of our non-credit card related loyalty program. Points earned through both loyalty programs enable members to receive certificates that may be redeemed on future merchandise purchases. This customer option is a material right and, accordingly, represents a separate performance obligation to the customer. The allocated consideration for the points or certificates earned by our loyalty program members is deferred based on the standalone selling price of the points and recorded within gift card and other deferred revenue within our Condensed Consolidated Balance Sheet. The measurement of standalone selling prices takes into consideration the discount the customer would receive in a separate transaction for the delivered item, as well as our estimate of certificates expected to be issued and redeemed, based on historical patterns. This measurement is applied to our portfolio of performance obligations for points or certificates earned, as all obligations have similar economic characteristics. We believe the impact to our Condensed Consolidated Financial Statements would not be materially different if this measurement was applied to each individual performance obligation. Revenue is recognized for these performance obligations at a point in time when certificates are redeemed by the customer. These obligations relate to contracts with terms less than one year, as our certificates generally expire within six months from issuance. We enter into agreements with credit card issuers in connection with our private label and co-branded credit cards, whereby we receive cash incentives in exchange for promised services, such as licensing our brand names and marketing the credit card program to customers. These separate non-loyalty program related services promised under these agreements are interrelated and are thus considered a single performance obligation. Revenue is recognized over time as we transfer promised services throughout the contract term.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
EARNINGS PER SHARE (Tables)	Oct. 29, 2023
Earnings Per Share [Abstract]
Reconciliation of Net Earnings and Number of Shares Used In Basic and Diluted Earnings per Share Computations	The following is a reconciliation of net earnings and the number of shares used in the basic and diluted earnings per share computations: (In thousands, except per share amounts) Net Earnings Weighted Earnings Thirteen weeks ended October 29, 2023 Basic $ 237,285 64,142 $ 3.70 Effect of dilutive stock-based awards 632 Diluted $ 237,285 64,774 $ 3.66 Thirteen weeks ended October 30, 2022 Basic $ 251,723 66,704 $ 3.77 Effect of dilutive stock-based awards 913 Diluted $ 251,723 67,617 $ 3.72 Thirty-nine weeks ended October 29, 2023 Basic $ 595,323 64,718 $ 9.20 Effect of dilutive stock-based awards 580 Diluted $ 595,323 65,298 $ 9.12 Thirty-nine weeks ended October 30, 2022 Basic $ 772,911 68,578 $ 11.27 Effect of dilutive stock-based awards 1,204 Diluted $ 772,911 69,782 $ 11.08

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	9 Months Ended
SEGMENT REPORTING (Tables)	Oct. 29, 2023
Segment Reporting [Abstract]
Segment Information	The following table summarizes our net revenues by brand for the thirteen and thirty-nine weeks ended October 29, 2023 and October 30, 2022. For the Thirteen Weeks Ended 1 For the Thirty-nine Weeks Ended 1 (In thousands) October 29, 2023 October 30, 2022 October 29, 2023 October 30, 2022 Pottery Barn $ 777,475 $ 935,045 $ 2,331,497 $ 2,588,798 West Elm 466,360 599,802 1,402,859 1,744,013 Williams Sonoma 252,408 261,820 736,342 762,651 Pottery Barn Kids and Teen 276,715 299,112 748,923 810,243 Other 2 80,692 96,795 252,094 315,633 Total 3 $ 1,853,650 $ 2,192,574 $ 5,471,715 $ 6,221,338 1 Includes business-to-business net revenues within each brand. 2 Primarily consists of net revenues from Rejuvenation, our international franchise operations, Mark and Graham and GreenRow. 3 Includes net revenues related to our international operations (including our operations in Canada, our franchise businesses, and operations in Australia and the United Kingdom) of approximately $72.5 million and $94.7 million for the thirteen weeks ended October 29, 2023 and October 30, 2022, respectively, and approximately $225.3 million and $303.0 million for the thirty-nine weeks ended October 29, 2023 and October 30, 2022, respectively.
Summary of Long-lived Assets by Geographic Areas	Long-lived assets by geographic location, which excludes deferred income taxes, goodwill, and intangible assets, are as follows: As of (In thousands) October 29, 2023 October 30, 2022 U.S. $ 2,285,829 $ 2,287,912 International 85,256 95,368 Total $ 2,371,085 $ 2,383,280

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	9 Months Ended
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	Oct. 29, 2023
Equity [Abstract]
Changes in Accumulated Other Comprehensive Income (Loss) by Component, Net of Tax	Changes in accumulated other comprehensive income (loss) by component, net of tax, are as follows: (In thousands) Foreign Currency Cash Flow Accumulated Other Balance at January 29, 2023 $ (14,458) $ 649 $ (13,809) Foreign currency translation adjustments (2,205) — (2,205) Change in fair value of derivative financial instruments — 242 242 Reclassification adjustment for realized (gain) loss on derivative financial instruments 1 — (486) (486) Other comprehensive income (loss) (2,205) (244) (2,449) Balance at April 30, 2023 $ (16,663) $ 405 $ (16,258) Foreign currency translation adjustments 2,171 — 2,171 Change in fair value of derivative financial instruments — (157) (157) Reclassification adjustment for realized (gain) loss on derivative financial instruments 1 — (296) (296) Other comprehensive income (loss) 2,171 (453) 1,718 Balance at July 30, 2023 $ (14,492) $ (48) $ (14,540) Foreign currency translation adjustments (4,028) — (4,028) Change in fair value of derivative financial instruments — 78 78 Reclassification adjustment for realized (gain) loss on derivative financial instruments 1 — (114) (114) Other comprehensive income (loss) (4,028) (36) (4,064) Balance at October 29, 2023 $ (18,520) $ (84) $ (18,604) Balance at January 30, 2022 $ (10,886) $ 58 $ (10,828) Foreign currency translation adjustments (1,514) — (1,514) Change in fair value of derivative financial instruments — 93 93 Reclassification adjustment for realized (gain) loss on derivative financial instruments 1 — (18) (18) Other comprehensive income (loss) (1,514) 75 (1,439) Balance at May 1, 2022 $ (12,400) $ 133 $ (12,267) Foreign currency translation adjustments (1,385) — (1,385) Change in fair value of derivative financial instruments — 26 26 Reclassification adjustment for realized (gain) loss on derivative financial instruments 1 — (5) (5) Other comprehensive income (loss) (1,385) 21 (1,364) Balance at July 31, 2022 $ (13,785) $ 154 $ (13,631) Foreign currency translation adjustments (5,158) — (5,158) Change in fair value of derivative financial instruments — 1,069 1,069 Reclassification adjustment for realized (gain) loss on derivative financial instruments 1 — (128) (128) Other comprehensive income (loss) (5,158) 941 (4,217) Balance at October 30, 2022 $ (18,943) $ 1,095 $ (17,848) 1 Refer to Note H

FINANCIAL STATEMENTS - BASIS _3

FINANCIAL STATEMENTS - BASIS OF PRESENTATION - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Jan. 29, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Deferred lease incentives	$ 8.9	$ 13.9	$ 10
Deferred lease incentive, amortization	$ 1.7	$ 2.4

BORROWING ARRANGEMENTS (Details

BORROWING ARRANGEMENTS (Details)	9 Months Ended
BORROWING ARRANGEMENTS (Details)	Oct. 29, 2023 USD ($) facility	Oct. 30, 2022 USD ($)	Aug. 18, 2023 USD ($) facility
Debt Instrument [Line Items]
Outstanding letter of credit facilities	$ 1,200,000
Letter of Credit Facility Renewed and Extended
Debt Instrument [Line Items]
Number of facilities \| facility	3
Maximum borrowing capacity of letter of credit after renewal	$ 35,000,000
Letter Of Credit Facility Maturing August 2023
Debt Instrument [Line Items]
Number of facilities \| facility			2
Maximum borrowing capacity of letter of credit after renewal			$ 30,000,000
Letter Of Credit Facility Maturing September 2026
Debt Instrument [Line Items]
Number of facilities \| facility	1
Maximum borrowing capacity of letter of credit after renewal	$ 5,000,000
Standby Letters of Credit
Debt Instrument [Line Items]
Amount issued but undrawn under credit facility	11,100,000
Unsecured Revolving Line of Credit
Debt Instrument [Line Items]
Current borrowing capacity	500,000,000
Additional borrowing capacity	250,000,000
Maximum borrowing capacity including additional borrowing capacity	750,000,000
Borrowings under revolving line of credit	$ 0	$ 0
Unsecured Revolving Line of Credit \| Margin Based on Leverage Ratio \| Minimum
Debt Instrument [Line Items]
Leverage ratio	0.91%
Unsecured Revolving Line of Credit \| Margin Based on Leverage Ratio \| Maximum
Debt Instrument [Line Items]
Leverage ratio	1.775%
Unsecured Revolving Line of Credit \| Base Rate \| Minimum
Debt Instrument [Line Items]
Leverage ratio	0%
Unsecured Revolving Line of Credit \| Base Rate \| Maximum
Debt Instrument [Line Items]
Leverage ratio	0.775%
Unsecured Revolving Line of Credit \| Secured Overnight Financing Rate
Debt Instrument [Line Items]
Leverage ratio	0.10%

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details) - USD ($) $ in Thousands, shares in Millions	3 Months Ended		9 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 29, 2023	Oct. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of awards granted to employees (in years)			4 years
Stock-based compensation expense			$ 66,435	$ 67,797
Selling, General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 22,200	$ 16,100	$ 66,400	$ 67,800
Minimum \| Non-Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of awards granted to employees (in years)			1 year
Equity Award Programs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of shares under the plan (in shares)	42.7		42.7
Shares available for future grant (in shares)	5.1		5.1
Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards annual grant limit (in shares)			1,000,000
Performance Based Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of awards granted to employees (in years)			3 years

EARNINGS PER SHARE - Reconcilia

EARNINGS PER SHARE - Reconciliation of Net Earnings and Number of Shares Used in Basic and Diluted Earnings Per Share Computations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 29, 2023	Oct. 30, 2022
Net Earnings
Basic	$ 237,285	$ 251,723	$ 595,323	$ 772,911
Diluted	$ 237,285	$ 251,723	$ 595,323	$ 772,911
Weighted Average Shares
Basic (in shares)	64,142	66,704	64,718	68,578
Effect of dilutive stock-based awards (in shares)	632	913	580	1,204
Diluted (in shares)	64,774	67,617	65,298	69,782
Earnings Per Share, Basic
Basic (in USD per share)	$ 3.70	$ 3.77	$ 9.20	$ 11.27
Earnings Per Share, Diluted
Diluted (in USD per share)	$ 3.66	$ 3.72	$ 9.12	$ 11.08

SEGMENT REPORTING - Net Revenue

SEGMENT REPORTING - Net Revenues by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 29, 2023	Oct. 30, 2022
Segment Reporting Information [Line Items]
Total	$ 1,853,650	$ 2,192,574	$ 5,471,715	$ 6,221,338
International
Segment Reporting Information [Line Items]
Total	72,500	94,700	225,300	303,000
Pottery Barn
Segment Reporting Information [Line Items]
Total	777,475	935,045	2,331,497	2,588,798
West Elm
Segment Reporting Information [Line Items]
Total	466,360	599,802	1,402,859	1,744,013
Williams Sonoma
Segment Reporting Information [Line Items]
Total	252,408	261,820	736,342	762,651
Pottery Barn Kids and Teen
Segment Reporting Information [Line Items]
Total	276,715	299,112	748,923	810,243
Other
Segment Reporting Information [Line Items]
Total	$ 80,692	$ 96,795	$ 252,094	$ 315,633

SEGMENT REPORTING - Summary of

SEGMENT REPORTING - Summary of Long-lived Assets by Geographic Areas (Details) - USD ($) $ in Thousands	Oct. 29, 2023	Oct. 30, 2022
Segment Reporting Information [Line Items]
Long-lived assets	$ 2,371,085	$ 2,383,280
U.S.
Segment Reporting Information [Line Items]
Long-lived assets	2,285,829	2,287,912
International
Segment Reporting Information [Line Items]
Long-lived assets	$ 85,256	$ 95,368

STOCK REPURCHASE PROGRAM AND _2

STOCK REPURCHASE PROGRAM AND DIVIDENDS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 29, 2023	Oct. 30, 2022	Jan. 29, 2023
Equity [Abstract]
Common stock repurchased (in shares)	21,434	513,940	2,621,861	6,081,708
Common stock repurchased, average cost per share (in USD per share)	$ 140.01	$ 145.02	$ 119.38	$ 138.28
Common stock repurchased, total cost	$ 3,000	$ 74,600	$ 313,001	$ 840,955
Excise taxes			2,500
Stock repurchase program, remaining authorized repurchase amount	687,000		687,000
Treasury stock	$ 1,426	$ 739	$ 1,426	$ 739	$ 739
Cash dividends declared per common share (in USD per share)	$ 0.90	$ 0.78	$ 2.70	$ 2.34

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 29, 2023	Oct. 30, 2022	Oct. 29, 2023	Oct. 30, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (loss) on cash flow hedging instruments	$ 0	$ 0	$ 0	$ 0
Foreign Exchange Contract \| Cash Flow Hedging \| Derivatives designated as hedging instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount	$ 0	$ 19,500,000	$ 0	$ 19,500,000

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details)	3 Months Ended		9 Months Ended
FAIR VALUE MEASUREMENTS (Details)	Oct. 29, 2023 USD ($) Store	Oct. 30, 2022 USD ($)	Oct. 29, 2023 USD ($) Store	Oct. 30, 2022 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impairment of property and equipment	$ 1,600,000		$ 13,000,000	$ 5,200,000
Number of stores \| Store	4		8
Impairment of operating lease right-of-use assets	$ 500,000		$ 4,400,000	2,600,000
Transfers in and out of level 3	0	$ 0	0	0
Property, Plant and Equipment \| Outward, Inc.
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impairment of property and equipment			3,700,000
Leasehold Improvements
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impairment of property and equipment	$ 1,100,000		$ 4,900,000	2,600,000
Australia
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impairment of property and equipment				$ 0

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Oct. 29, 2023	Jul. 30, 2023	Apr. 30, 2023	Oct. 30, 2022	Jul. 31, 2022	May 01, 2022	Oct. 29, 2023	Oct. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 1,620,955	$ 1,466,825	$ 1,701,051	$ 1,278,279	$ 1,309,744	$ 1,664,207	$ 1,701,051	$ 1,664,207
Foreign currency translation adjustments	(4,028)	2,171	(2,205)	(5,158)	(1,385)	(1,514)	(4,062)	(8,057)
Change in fair value of derivative financial instruments	78	(157)	242	1,069	26	93	163	1,188
Reclassification adjustment for realized (gain) loss on derivative financial instruments	(114)	(296)	(486)	(128)	(5)	(18)	(896)	(151)
Other comprehensive income (loss)	(4,064)	1,718	(2,449)	(4,217)	(1,364)	(1,439)
Ending balance	1,813,234	1,620,955	1,466,825	1,412,934	1,278,279	1,309,744	1,813,234	1,412,934
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(14,540)	(16,258)	(13,809)	(13,631)	(12,267)	(10,828)	(13,809)	(10,828)
Foreign currency translation adjustments	(4,028)	2,171	(2,205)	(5,158)	(1,385)	(1,514)
Change in fair value of derivative financial instruments	78	(157)	242	1,069	26	93
Reclassification adjustment for realized (gain) loss on derivative financial instruments	(114)	(296)	(486)	(128)	(5)	(18)
Ending balance	(18,604)	(14,540)	(16,258)	(17,848)	(13,631)	(12,267)	(18,604)	(17,848)
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(14,492)	(16,663)	(14,458)	(13,785)	(12,400)	(10,886)	(14,458)	(10,886)
Foreign currency translation adjustments	(4,028)	2,171	(2,205)	(5,158)	(1,385)	(1,514)
Other comprehensive income (loss)	(4,028)	2,171	(2,205)	(5,158)	(1,385)	(1,514)
Ending balance	(18,520)	(14,492)	(16,663)	(18,943)	(13,785)	(12,400)	(18,520)	(18,943)
Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(48)	405	649	154	133	58	649	58
Change in fair value of derivative financial instruments	78	(157)	242	1,069	26	93
Reclassification adjustment for realized (gain) loss on derivative financial instruments	(114)	(296)	(486)	(128)	(5)	(18)
Other comprehensive income (loss)	(36)	(453)	(244)	941	21	75
Ending balance	$ (84)	$ (48)	$ 405	$ 1,095	$ 154	$ 133	$ (84)	$ 1,095

REVENUE (Details)

REVENUE (Details) - USD ($) $ in Thousands	9 Months Ended
REVENUE (Details) - USD ($) $ in Thousands	Oct. 29, 2023	Jan. 29, 2023	Oct. 30, 2022
Disaggregation of Revenue [Line Items]
Contract obligation term (in years)	1 year
Customer loyalty program, expiration period (in months)	6 months
Gift card and other deferred revenue	$ 528,403	$ 479,229	$ 488,771
Other Current Liabilities
Disaggregation of Revenue [Line Items]
Expected sales return liability	47,100		52,300
Other Current Assets
Disaggregation of Revenue [Line Items]
Reduction in cost of goods sold for expected net realizable value of merchandise inventory to be returned	$ 14,900		15,800
Stored-Value Cards
Disaggregation of Revenue [Line Items]
Stored value card redemption period (in years)	4 years
Stored value card redemption period, card issuance (in years)	1 year
Stored-Value Cards, Merchandise Sales and Credit Card Incentives
Disaggregation of Revenue [Line Items]
Gift card and other deferred revenue	$ 528,400		$ 488,800