3 unchanged sentences
(In thousands, except share data)
−Removed: August 2, 2025
+Added: November 1, 2025
February 1, 2025
−Removed: August 3, 2024
+Added: November 2, 2024
Current Assets:
31 unchanged sentences
(In thousands, except per share data)
−Removed: August 2, 2025
−Removed: August 3, 2024
−Removed: August 2, 2025
−Removed: August 3, 2024
+Added: November 1, 2025
+Added: November 2, 2024
+Added: November 1, 2025
+Added: November 2, 2024
Cost of sales (including buying, distribution
13 unchanged sentences
(In thousands, except per share data)
−Removed: Balance at May 3, 2025
+Added: Balance at August 2, 2025
Dividends declared ($ 0.150 per share)
Employee stock purchase plan purchases
−Removed: Stock-based compensation awards
−Removed: Shares surrendered by employees to pay taxes
−Removed: on stock-based compensation awards
Stock-based compensation expense
+Added: Balance at November 1, 2025
Balance at August 3, 2024
−Removed: Balance at May 4, 2024
Dividends declared ($ 0.135 per share)
Employee stock purchase plan purchases
−Removed: Stock-based compensation awards
Stock-based compensation expense
−Removed: Balance at August 3, 2024
−Removed: Twenty-six Weeks Ended
+Added: Balance at November 2, 2024
+Added: Thirty-nine Weeks Ended
(In thousands, except per share data)
6 unchanged sentences
Stock-based compensation expense
−Removed: Balance at August 2, 2025
+Added: Balance at November 1, 2025
Balance at February 3, 2024
5 unchanged sentences
Stock-based compensation expense
−Removed: Balance at August 3, 2024
+Added: Balance at November 2, 2024
See notes to Condensed Consolidated Financial Statements.
2 unchanged sentences
(In thousands)
−Removed: August 2, 2025
−Removed: August 3, 2024
+Added: November 1, 2025
+Added: November 2, 2024
Cash Flows From Operating Activities
3 unchanged sentences
Stock-based compensation
−Removed: Loss on retirement and impairment of assets, net
+Added: Loss (Gain) on retirement and impairment of assets, net
Deferred income taxes
9 unchanged sentences
Investments in marketable securities
−Removed: Sales of marketable securities
+Added: Sales of marketable securities and other
Acquisition, net of cash acquired
38 unchanged sentences
Rogan’s results were included in our consolidated financial statements since the acquisition date.
−Removed: Net Sales from our Rogan’s operations were $ 20.0 million and $ 39.0 million in the thirteen and twenty-six weeks ended August 2, 2025, respectively, $ 22.0 million in the thirteen weeks ended August 3, 2024 and $ 41.6 million from February 13, 2024 through August 3, 2024.
−Removed: For the thirteen and twenty-six weeks ended August 3, 2024, acquisition-related costs of $ 97,000 and $ 418,000 , respectively, were expensed as incurred and were included in Selling, General and Administrative Expenses (“SG&A”), compared to no acquisition-related costs included in SG&A in either the thirteen or twenty-six weeks ended August 2, 2025.
+Added: Net Sales from our Rogan’s operations were $ 21.1 million and $ 60.1 million in the thirteen and thirty-nine weeks ended November 1, 2025, respectively, $ 22.3 million in the thirteen weeks ended November 2, 2024 and $ 63.9 million from February 13, 2024 through November 2, 2024.
+Added: For the thirteen and thirty-nine weeks ended November 2, 2024, acquisition-related costs of $ 121,000 and $ 539,000 , respectively, were expensed as incurred and were included in Selling, General and Administrative Expenses (“SG&A”), compared to no acquisition-related costs included in SG&A in either the thirteen or thirty-nine weeks ended November 1, 2025.
The following table summarizes the purchase price and the allocation of the purchase price to the fair value of the assets acquired and liabilities assumed.
35 unchanged sentences
Thirteen Weeks Ended
−Removed: August 2, 2025
−Removed: August 3, 2024
+Added: November 1, 2025
+Added: November 2, 2024
(In thousands, except per share data)
6 unchanged sentences
shares and diluted net income per share
−Removed: Twenty-six Weeks Ended
−Removed: August 2, 2025
−Removed: August 3, 2024
+Added: Thirty-nine Weeks Ended
+Added: November 1, 2025
+Added: November 2, 2024
(In thousands, except per share data)
8 unchanged sentences
The computation of Diluted Net Income per Share is based on the weighted average number of shares outstanding plus the dilutive incremental shares that would be outstanding assuming the vesting of stock-based compensation arrangements involving restricted stock, restricted stock units and performance stock units.
−Removed: During the thirteen and twenty-six weeks ended August 2, 2025 , approximately 10,000 of unvested stock-based awards that will be settled in shares were excluded from the computation of Diluted Net Income per Share because the impact would have been anti-dilutive.
−Removed: No unvested stock-based awards that will be settled in shares were excluded from the computation of Diluted Net Income per Share for the thirteen and twenty-six weeks ended August 3, 2024 .
+Added: No unvested stock-based awards that will be settled in shares were excluded from the computation of Diluted Net Income per Share for the thirteen and thirty-nine weeks ended November 1, 2025 and November 2, 2024 .
Note 4 - Recently Issued Accounting Pronouncements and Tax Legislation
13 unchanged sentences
We are currently evaluating the impact of this guidance on our Consolidated Financial Statements and related disclosures.
−Removed: On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act ("OBBB").
−Removed: The OBBB makes key elements of the Tax Cuts and Jobs Act permanent, including 100 % bonus depreciation, domestic research cost expensing and the business interest expense limitation.
+Added: On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (the "OBBB").
+Added: The OBBB makes key elements of the Tax Cuts and Jobs Act permanent, including 100 % bonus depreciation, domestic research cost expensing and the business interest
+Added: expense limitation.
Accounting Standards Codification Topic No.
740, "Income Taxes", requires that we recognize the effects of changes in tax rates and laws in the period in which the legislation is enacted.
−Removed: Consequently, in the thirteen weeks ended August 2, 2025, we recognized an increase in our deferred tax expense, primarily due to the impact of the 100 % bonus depreciation and domestic research cost expensing provided for in the OBBB, partially offset by reductions in our current tax expense.
+Added: Consequently, in the thirty-nine weeks ended November 1, 2025, we recognized an increase in our deferred tax expense, primarily due to the impact of the 100 % bonus depreciation and domestic research cost expensing provided for in the OBBB, partially offset by reductions in our current tax expense.
We expect that the OBBB will not have a material impact on our financial statements, including on our Fiscal 2025 effective tax rate.
+Added: In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40).
+Added: The guidance provides targeted improvements to the accounting for internal-use software.
+Added: The guidance is effective for fiscal years beginning after December 15, 2027, and interim periods within those annual reporting periods.
+Added: Early adoption is permitted.
+Added: The amendments in the ASU can be applied on a prospective transition approach, a modified transition approach that is based on the status of the project and whether software costs were capitalized before the date of adoption, or a retrospective transition approach.
+Added: We are currently evaluating the impact of this guidance on our Consolidated Financial Statements and related disclosures.
Note 5 - Fair Value Measurements
Financial Instruments
−Removed: The following table presents financial instruments that are measured at fair value on a recurring basis at August 2, 2025, February 1, 2025 and August 3, 2024:
+Added: The following table presents financial instruments that are measured at fair value on a recurring basis at November 1, 2025, February 1, 2025 and November 2, 2024:
Fair Value Measurements
(In thousands)
−Removed: As of August 2, 2025
+Added: As of November 1, 2025
Cash equivalents - money market mutual funds
5 unchanged sentences
deferred compensation
−Removed: As of August 3, 2024
+Added: As of November 2, 2024
Cash equivalents - money market mutual funds
3 unchanged sentences
These Marketable Securities are designed to mitigate volatility in our Consolidated Statements of Income associated with our non-qualified deferred compensation plan.
−Removed: As of August 2, 2025, these Marketable Securities were principally invested in equity-based mutual funds, consistent with the allocation in our deferred compensation plan.
+Added: As of November 1, 2025, these Marketable Securities were principally invested in equity-based mutual funds, consistent with the allocation in our deferred compensation plan.
To the extent there is a variation in invested funds compared to the total non-qualified deferred compensation plan liability, such fund variance is managed through a stable value mutual fund.
2 unchanged sentences
Contingent Consideration
−Removed: The following table presents liabilities that are measured at fair value on a recurring basis at August 2, 2025, February 1, 2025 and August 3, 2024:
+Added: The following table presents liabilities that are measured at fair value on a recurring basis at November 1, 2025, February 1, 2025 and November 2, 2024:
Fair Value Measurements
(In thousands)
−Removed: As of August 2, 2025
+Added: As of November 1, 2025
Contingent consideration
1 unchanged sentence
Contingent consideration
−Removed: As of August 3, 2024
+Added: As of November 2, 2024
Contingent consideration
3 unchanged sentences
(In thousands)
−Removed: August 2, 2025
+Added: November 1, 2025
February 1, 2025
−Removed: August 3, 2024
+Added: November 2, 2024
Deferred compensation plan current liabilities
3 unchanged sentences
(In thousands)
−Removed: August 2, 2025
−Removed: August 3, 2024
−Removed: August 2, 2025
−Removed: August 3, 2024
+Added: November 1, 2025
+Added: November 2, 2024
+Added: November 1, 2025
+Added: November 2, 2024
Deferred compensation liabilities
3 unchanged sentences
Mark-to-market gains (1)
−Removed: Net deferred compensation (income) expense
−Removed: (1) Included in the mark-to-market activity related to equity securities still held at quarter-end, we recognized unrealized gains of $ 903,000 and $ 258,000 for the thirteen weeks ended August 2, 2025 and August 3, 2024, respectively, and unrealized gains of $ 809,000 and $ 550,000 for the twenty-six weeks ended August 2, 2025 and August 3, 2024, respectively.
+Added: Net deferred compensation expense
+Added: (1) Included in the mark-to-market activity related to equity securities still held at quarter-end, we recognized unrealized gains of $ 56,000 and $ 568,000 for the thirteen weeks ended November 1, 2025 and November 2, 2024, respectively, and unrealized gains of $ 865,000 and $ 1.1 million for the thirty-nine weeks ended November 1, 2025 and November 2, 2024, respectively.
The fair values of Cash and Cash Equivalents, Accounts Receivable, Accounts Payable and Accrued and Other Liabilities approximate their carrying values because of their short-term nature.
6 unchanged sentences
If the Operating Lease Right-of-Use Asset is impaired, we would amortize the remaining right-of-use asset on a straight-line basis over the remaining lease term.
−Removed: No impairment charges were recorded during the twenty-six weeks ended August 2, 2025 or the twenty-six weeks ended August 3, 2024 .
+Added: No impairment charges were recorded during the thirty-nine weeks ended November 1, 2025 or the thirty-nine weeks ended November 2, 2024 .
Note 6 - Stock-Based Compensation
2 unchanged sentences
Additionally, we recognize stock-based compensation expense for the discount on shares sold to employees through our Employee Stock Purchase Plan and for cash-settled stock appreciation rights.
−Removed: For the thirteen and twenty-six weeks ended August 2, 2025 and August 3, 2024, stock-based compensation expense was comprised of the following:
+Added: For the thirteen and thirty-nine weeks ended November 1, 2025 and November 2, 2024, stock-based compensation expense was comprised of the following:
(In thousands)
−Removed: August 2, 2025
−Removed: August 3, 2024
−Removed: August 2, 2025
−Removed: August 3, 2024
+Added: November 1, 2025
+Added: November 2, 2024
+Added: November 1, 2025
+Added: November 2, 2024
Share-settled equity awards
3 unchanged sentences
Income tax effect at statutory rates
−Removed: Additional income tax expense (benefit) on vesting of
+Added: Additional income tax (benefit) expense on vesting of
share-settled awards
−Removed: As of August 2, 2025 , approximately $ 13.2 million of unrecognized compensation expense remained related to our share-settled equity awards.
+Added: As of November 1, 2025 , approximately $ 10.9 million of unrecognized compensation expense remained related to our share-settled equity awards.
The cost is expected to be recognized over a weighted average period of approximately 1.6 years.
4 unchanged sentences
Outstanding at February 1, 2025
−Removed: Outstanding at August 2, 2025
−Removed: The total fair value at grant date of restricted stock units and performance stock units that vested during the twenty-six weeks ended August 2, 2025 and August 3, 2024 was $ 7.5 million and $ 1.4 million, respectively.
−Removed: The weighted-average grant date fair value of restricted stock units and performance stock units granted during the twenty-six weeks ended August 3, 2024 was $ 32.06 .
+Added: Outstanding at November 1, 2025
+Added: The total fair value at grant date of restricted stock units and performance stock units that vested during the thirty-nine weeks ended November 1, 2025 and November 2, 2024 was $ 7.5 million and $ 1.4 million, respectively.
+Added: The weighted-average grant date fair value of restricted stock units and performance stock units granted during the thirty-nine weeks ended November 2, 2024 was $ 32.06 .
The following table summarizes transactions for our restricted stock and other stock awards:
2 unchanged sentences
Outstanding at February 1, 2025
−Removed: Outstanding at August 2, 2025
−Removed: The total fair value at grant date of restricted stock and other stock awards that vested during the twenty-six weeks ended August 2, 2025 was $ 100,000 .
−Removed: No restricted stock or other stock awards vested during the twenty-six weeks ended August 3, 2024.
−Removed: The weighted-average grant date fair value of restricted stock awards granted during the twenty-six weeks ended August 3, 2024 was $ 36.84 .
+Added: Outstanding at November 1, 2025
+Added: The total fair value at grant date of restricted stock and other stock awards that vested during the thirty-nine weeks ended November 1, 2025 was $ 100,000 .
+Added: No restricted stock or other stock awards vested during the thirty-nine weeks ended November 2, 2024.
+Added: The weighted-average grant date fair value of restricted stock awards granted during the thirty-nine weeks ended November 2, 2024 was $ 36.84 .
Note 7 – Revenue
Disaggregation of Net Sales by Product Category
−Removed: Net Sales and percentage of Net Sales, disaggregated by product category, for the thirteen and twenty-six weeks ended August 2, 2025 and August 3, 2024 were as follows:
+Added: Net Sales and percentage of Net Sales, disaggregated by product category, for the thirteen and thirty-nine weeks ended November 1, 2025 and November 2, 2024 were as follows:
(In thousands)
Thirteen Weeks
−Removed: Ended August 2, 2025
+Added: Ended November 1, 2025
Thirteen Weeks
−Removed: Ended August 3, 2024
+Added: Ended November 2, 2024
Non-Athletics:
(In thousands)
−Removed: Twenty-six Weeks
−Removed: Ended August 2, 2025
−Removed: Twenty-six Weeks
−Removed: Ended August 3, 2024
+Added: Thirty-nine Weeks
+Added: Ended November 1, 2025
+Added: Thirty-nine Weeks
+Added: Ended November 2, 2024
Non-Athletics:
25 unchanged sentences
We recognize the related revenue when control has been transferred to the customer (i.e., when the product is picked up by the customer or shipped to the customer).
−Removed: Unearned revenue related to Shoes 2U was not material to our consolidated financial statements at August 2, 2025, February 1, 2025 or August 3, 2024.
+Added: Unearned revenue related to Shoes 2U was not material to our consolidated financial statements at November 1, 2025, February 1, 2025 or November 2, 2024.
Returns and Refunds
2 unchanged sentences
The estimated cost of Merchandise Inventories is reco rded as a reduction to Cost of Sales and an increase in Merchandise Inventories.
−Removed: Approximately $ 1.1 million of refund liabilities and $ 726,000 of right of return assets associated with estimated product returns were recorded in Accrued and Other Liabilities and Merchandise Inventories, respectively, as of August 2, 2025 and February 1, 2025.
−Removed: Approximately $ 962,000 of refund liabilities and $ 618,000 of right of return assets associated with estimated product returns were recorded in Accrued and Other Liabilities and Merchandise Inventories, respectively, at August 3, 2024.
+Added: Approximately $ 1.1 million of refund liabilities and $ 726,000 of right of return assets associated with estimated product returns were recorded in Accrued and Other Liabilities and Merchandise Inventories, respectively, as of November 1, 2025 and February 1, 2025.
+Added: Approximately $ 962,000 of refund liabilities and $ 618,000 of right of return assets associated with estimated product returns were recorded in Accrued and Other Liabilities and Merchandise Inventories, respectively, at November 2, 2024.
Contract Liabilities
2 unchanged sentences
We do not record breakage revenue when escheat liability to relevant jurisdictions exists.
−Removed: At August 2, 2025, February 1, 2025 and August 3, 2024 , approximately $ 2.0 million, $ 2.3 million and $ 2.6 million of contract liabilities associated with unredeemed gift cards were recorded in Accrued and Other Liabilities, respectively.
+Added: At November 1, 2025, February 1, 2025 and November 2, 2024 , approximately $ 1.8 million, $ 2.3 million and $ 2.4 million of contract liabilities associated with unredeemed gift cards were recorded in Accrued and Other Liabilities, respectively.
We expect the revenue associated with these liabilities to be recognized in proportion to the pattern of customer redemptions within two years.
6 unchanged sentences
We then recognize revenue based on an estimate of when customers redeem rewards, which incorporates an estimate of points expected to expire using historical rates.
−Removed: During the thirteen and twenty-six weeks ended August 2, 2025 , approximately $ 988,000 and $ 1.9 million, respectively, of loyalty rewards were recognized in Net Sales.
−Removed: During the thirteen and twenty-six weeks ended August 3, 2024 , approximately $ 790,000 and $ 1.6 million, respectively, of loyalty rewards were recognized in Net Sales .
−Removed: At August 2, 2025, February 1, 2025 and August 3, 2024 , approximately $ 728,000 , $ 564,000 and $ 574,000 , respectively, of contract liabilities associated with loyalty rewards were recorded in Accrued and Other Liabilities.
+Added: During the thirteen and thirty-nine weeks ended November 1, 2025 , approximately $ 1.1 million and $ 3.1 million, respectively, of loyalty rewards were recognized in Net Sales.
+Added: During the thirteen and thirty-nine weeks ended November 2, 2024 , approximately $ 943,000 and $ 2.5 million, respectively, of loyalty rewards were recognized in Net Sales .
+Added: At November 1, 2025, February 1, 2025 and November 2, 2024 , approximately $ 711,000 , $ 564,000 and $ 613,000 , respectively, of contract liabilities associated with loyalty rewards were recorded in Accrued and Other Liabilities.
We expect the revenue associated with these liabilities to be recognized in proportion to the pattern of customer redemptions in less than one year.
11 unchanged sentences
Therefore, such information is not provided.
−Removed: Operating financial results of our segment for the thirteen and twenty-six weeks ended August 2, 2025 and August 3, 2024 were as follows:
+Added: Operating financial results of our segment for the thirteen and thirty-nine weeks ended November 1, 2025 and November 2, 2024 were as follows:
(In thousands)
−Removed: August 2, 2025
−Removed: August 3, 2024
−Removed: August 2, 2025
−Removed: August 3, 2024
+Added: November 1, 2025
+Added: November 2, 2024
+Added: November 1, 2025
+Added: November 2, 2024
Merchandise & delivery costs (1)
18 unchanged sentences
The finance lease assets and related current liabilities and noncurrent liabilities were recorded in Other Noncurrent Assets, Accrued and Other Liabilities and Other long-term liabilities, respectively.
−Removed: Leases with terms of twelve months or less are immaterial and are expensed as incurred, and we did not have any leases with related parties or any sublease arrangements with any related party or third party as of August 2, 2025, February 1, 2025 or August 3, 2024.
−Removed: Lease costs, including other related occupancy costs, reported in our Condensed Consolidated Statements of Income were as follows for the thirteen and twenty-six weeks ended August 2, 2025 and August 3, 2024:
+Added: Leases with terms of twelve months or less are immaterial and are expensed as incurred, and we did not have any leases with related parties or any sublease arrangements with any related party or third party as of November 1, 2025, February 1, 2025 or November 2, 2024.
+Added: Lease costs, including other related occupancy costs, reported in our Condensed Consolidated Statements of Income were as follows for the thirteen and thirty-nine weeks ended November 1, 2025 and November 2, 2024:
(In thousands)
−Removed: August 2, 2025
−Removed: August 3, 2024
−Removed: August 2, 2025
−Removed: August 3, 2024
+Added: November 1, 2025
+Added: November 2, 2024
+Added: November 1, 2025
+Added: November 2, 2024
Operating lease cost
6 unchanged sentences
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.