7 unchanged sentences
Interest Rates
−Removed: Our ABL Credit Facility bore interest at a floating rate equal to the prime rate or SOFR, plus a calculated spread based on our average daily excess availability under the facility.
+Added: Until February 4, 2025, our ABL Credit Facility bears interest at a floating rate equal to the prime rate plus 2.000% or SOFR, plus 0.1000%, plus 3.000%.
As of February 1, 2025, we had $245.7 million in borrowings under our ABL Credit Facility.
A 10% change in the prime rate or SOFR would not have had a material impact on our interest expense.
−Removed: Our Term Loan bore interest, payable monthly, at (a) the SOFR per annum plus 2.750% for any portion that was a SOFR loan, or (b) the base rate per annum plus 2.000% for any portion that was a base rate loan.
−Removed: As of February 3, 2024, the outstanding balance of the Term Loan was $50.0 million.
−Removed: A 10% change in the SOFR would not have had a material impact on our interest expense.
−Removed: As of the effective date of the Seventh Amendment, our Term Loan has been fully repaid.
−Removed: See “Recent Developments” above for further information.
−Removed: During the first quarter of Fiscal 2024, we entered into the New Mithaq Term Loan, which requires monthly payments equivalent to interest charged at the SOFR per annum plus 4.000% per annum, with such monthly payments to Mithaq deferred until April 30, 2025.
−Removed: We also entered into a commitment letter for the Mithaq Credit Facility.
+Added: Our 2021 Term Loan bore interest, payable monthly, at (i) the SOFR per annum plus 2.750% for any portion that was a SOFR loan, or (ii) the base rate per annum plus 2.000% for any portion that was a base rate loan.
+Added: As of April 18, 2024, our 2021 Term Loan was fully repaid.
+Added: The New Mithaq Term Loan requires monthly payments equivalent to interest charged at the SOFR per annum plus 4.000% per annum, with such monthly payments to Mithaq having been deferred until April 30, 2025.
+Added: As of February 6, 2025, $60.2 million under the Initial Mithaq Term Loan was repaid pursuant to the completion of the Rights Offering, leaving an aggregate of $108.4 million outstanding under the Mithaq Term Loans.
+Added: A 10% change in the prime rate or SOFR would not have had a material impact on our interest expense.
+Added: As of February 1, 2025, we had no borrowings under our Mithaq Credit Facility.
If any debt is incurred under the Mithaq Credit Facility, it shall require monthly payments equivalent to interest charged at the SOFR plus 5.000% per annum.
−Removed: See “Recent Developments” above for further information.
+Added: A 10% change in the prime rate or SOFR would not have had a material impact on our interest expense.
Assets and Liabilities of Foreign Subsidiaries
Assets and liabilities outside the United States are primarily located in Canada and Hong Kong, where our investments in our subsidiaries are considered long-term.
−Removed: As of February 3, 2024, net assets in Canada and Hong Kong amounted to $5.5 million.
+Added: As of February 1, 2025, net liabilities in Canada and Hong Kong amounted to $22.2 million.
A 10% increase or decrease in the Canadian and Hong Kong foreign currency exchange rates would increase or decrease the corresponding net investment by $2.2 million.
−Removed: All changes in the net investments in our foreign subsidiaries are recorded in other comprehensive income (loss).
−Removed: As of February 3, 2024, we had $3.9 million of our cash and cash equivalents held in foreign subsidiaries, of which $1.5 million was in India, $1.3 million was in China, $0.5 million was in Canada, $0.4 million was in Hong Kong, and $0.2 million was held in other foreign countries.
+Added: All changes in the net investments in our foreign subsidiaries are recorded in other comprehensive loss.
+Added: As of February 1, 2025, we had $3.7 million of our cash and cash equivalents held in foreign subsidiaries, of which $1.1 million was in China, $0.8 million was in India, $0.6 million was in Canada, $0.2 million was in Hong Kong, and $1.0 million was held in other foreign countries.
+Added: We have subsidiaries whose operating results are based in foreign currencies and are thus subject to the fluctuations of the corresponding translation rates into U.S.
+Added: The table below summarizes the average translation rates that most significantly impact our operating results:
+Added: Fiscal Years Ended
+Added: 2025 February 3,
+Added: 2024 January 28,
+Added: Average Translation Rates (1)
+Added: Canadian dollar 0.7252 0.7414 0.7469
+Added: Hong Kong dollar 0.1282 0.1277 0.1277
+Added: ____________________________________________
+Added: (1) The average translation rates are the average of the monthly translation rates used during each fiscal year to translate the respective income statements.
+Added: Each rate represents the U.S.
+Added: dollar equivalent of the respective foreign currency.
Foreign Operations
−Removed: We have exchange rate exposure primarily with respect to certain revenues and expenses denominated in Canadian dollars.
+Added: We have exchange rate exposure primarily with respect to certain revenues and expenses denominated in Canadian and Hong Kong dollars.
As a result, fluctuations in exchange rates impact the amount of our reported sales and expenses.
2 unchanged sentences
A 10% change in foreign currency exchange rates would not result in a significant transaction gain or loss in earnings.
−Removed: We import a vast majority of our merchandise from foreign countries, primarily Vietnam, Bangladesh, Ethiopia, Cambodia, Kenya, India, and China.
−Removed: Consequently, any significant or sudden change in the political, foreign trade, financial, banking, or currency policies and practices, or the occurrence of significant labor unrest in these countries, could have a material adverse impact on our business, financial position, results of operations, and cash flows.
+Added: We import a vast majority of our merchandise from foreign countries, primarily Bangladesh, Vietnam, India, Kenya, Ethiopia, China, and Indonesia.
+Added: Consequently, any significant or sudden change in the political, foreign trade, financial, banking, currency policies and practices, or the occurrence of significant labor unrest in these countries or changes in foreign policies of the United States, could have a material adverse impact on our business, financial position, results of operations, and cash flows.
+Added: We enter into various purchase order commitments with our suppliers.
+Added: We have the ability to cancel these arrangements, although in some instances we may either continue to be liable for payment of the entirety of the purchase order commitment despite cancellation, or be subject to a termination charge reflecting a percentage of work performed prior to cancellation.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.