0001628280-22-007305 | 10-K | XBRL Viewer

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jan. 29, 2022	Jan. 30, 2021
Current assets:
Cash and cash equivalents	$ 54,787	$ 63,548
Accounts receivable	21,863	39,534
Inventories	428,813	388,141
Prepaid expenses and other current assets	76,075	55,860
Total current assets	581,538	547,083
Long-term assets:
Property and equipment, net	155,006	181,801
Right-of-use assets	194,653	283,624
Tradenames, net	71,692	72,492
Deferred income taxes	23,109	45,579
Other assets	11,462	9,548
Total assets	1,037,460	1,140,127
Current liabilities:
Revolving loan	175,318	169,778
Accounts payable	183,758	252,124
Current portion of operating lease liabilities	91,097	174,585
Income taxes payable	10,984	5,508
Accrued expenses and other current liabilities	130,669	116,504
Total current liabilities	591,826	718,499
Long-term liabilities:
Long-term debt	49,685	75,346
Long-term portion of operating lease liabilities	134,761	214,173
Income taxes payable	14,939	14,939
Other tax liabilities	8,689	6,304
Other long-term liabilities	12,088	17,489
Total liabilities	811,988	1,046,750
Commitments and contingencies (see Note 9)
Stockholders’ equity:
Preferred stock, $1.00 par value, 1,000 shares authorized, 0 shares issued and outstanding	0	0
Common stock, $0.10 par value, 100,000 shares authorized; 13,964 and 14,641 issued; 13,903 and 14,584 outstanding	1,396	1,464
Additional paid-in capital	160,348	148,519
Treasury stock, at cost (61 and 57 shares)	(3,443)	(3,164)
Deferred compensation	3,443	3,164
Accumulated other comprehensive loss	(14,186)	(13,816)
Retained earnings (deficit)	77,914	(42,790)
Total stockholders’ equity	225,472	93,377
Total liabilities and stockholders’ equity	$ 1,037,460	$ 1,140,127

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jan. 29, 2022	Jan. 30, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 1.00	$ 1.00
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	13,964,000	14,641,000
Common stock, shares outstanding (in shares)	13,903,000	14,584,000
Treasury stock, shares (in shares)	61,000	57,000

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Income Statement [Abstract]
Net sales	$ 1,915,364	$ 1,522,598	$ 1,870,667
Cost of sales (exclusive of depreciation and amortization)	1,120,624	1,189,347	1,215,362
Gross profit	794,740	333,251	655,305
Selling, general, and administrative expenses	459,169	428,234	478,120
Depreciation and amortization	58,417	66,405	74,788
Asset impairment charges	1,506	38,527	6,039
Operating income (loss)	275,648	(199,915)	96,358
Interest expense	(18,634)	(11,906)	(8,194)
Interest income	16	63	253
Income (loss) before provision (benefit) for income taxes	257,030	(211,758)	88,417
Provision (benefit) for income taxes	69,859	(71,393)	15,117
Net income (loss)	$ 187,171	$ (140,365)	$ 73,300
Earnings (loss) per common share
Basic (in usd per share)	$ 12.82	$ (9.59)	$ 4.71
Diluted (in usd per share)	$ 12.59	$ (9.59)	$ 4.68
Weighted average common shares outstanding
Basic (in shares)	14,597	14,631	15,547
Diluted (in shares)	14,870	14,631	15,653

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net income (loss)	$ 187,171	$ (140,365)	$ 73,300
Other comprehensive income (loss):
Foreign currency translation adjustment	(370)	477	1,388
Change in fair value of cash flow hedges, net of income taxes	0	(748)	1
Total comprehensive income (loss)	$ 186,801	$ (140,636)	$ 74,689

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-in Capital	Deferred Compensation	Retained Earnings (Deficit)	Retained Earnings (Deficit) Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Beginning balance (in shares) at Feb. 02, 2019			15,873						(47)
Beginning balance at Feb. 02, 2019	$ 314,437	$ (1,667)	$ 1,588	$ 146,991	$ 2,685	$ 180,792	$ (1,667)	$ (14,934)	$ (2,685)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of stock awards (in shares)			480
Vesting of stock awards	42		$ 47	(5)
Stock-based compensation expense	16,219			16,219
Purchase and retirement of shares (in shares)			(1,591)
Purchase and retirement of common stock	(133,605)		$ (159)	(25,439)		(108,007)
Dividends declared ($2.24 per share)	(34,928)					(34,928)
Unvested dividends	0			1,275		(1,275)
Change in cumulative translation adjustment	1,388							1,388
Change in fair value of cash flow hedges, net of income taxes	1							1
Deferral of common stock into deferred compensation plan	0				271				$ (271)
Deferral of common stock into deferred compensation plan (in shares)									(4)
Net income (loss)	73,300					73,300
Ending balance (in shares) at Feb. 01, 2020			14,762						(51)
Ending balance at Feb. 01, 2020	$ 235,187		$ 1,476	139,041	2,956	108,215		(13,545)	$ (2,956)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible Enumeration]	us-gaap:AccountingStandardsUpdate201602Member
Vesting of stock awards (in shares)			173
Vesting of stock awards	$ 0		$ 17	(17)
Stock-based compensation expense	14,316			14,316
Purchase and retirement of shares (in shares)			(294)
Purchase and retirement of common stock	(15,490)		$ (29)	(4,821)		(10,640)
Change in cumulative translation adjustment	477
Other comprehensive loss	(271)							(271)
Change in fair value of cash flow hedges, net of income taxes	(748)
Deferral of common stock into deferred compensation plan	0				209				$ (209)
Deferral of common stock into deferred compensation plan (in shares)									(6)
Net income (loss)	(140,365)					(140,365)
Ending balance (in shares) at Jan. 30, 2021			14,641						(57)
Ending balance at Jan. 30, 2021	93,377		$ 1,464	148,519	3,165	(42,790)		(13,816)	$ (3,165)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of stock awards (in shares)			348
Vesting of stock awards	0		$ 35	(35)
Stock-based compensation expense	30,942			30,942
Purchase and retirement of shares (in shares)			(1,025)
Purchase and retirement of common stock	(85,648)		$ (103)	(19,078)		(66,467)
Change in cumulative translation adjustment	(370)
Other comprehensive loss	(370)							(370)
Change in fair value of cash flow hedges, net of income taxes	0
Deferral of common stock into deferred compensation plan	0				278				$ (278)
Deferral of common stock into deferred compensation plan (in shares)									(4)
Net income (loss)	187,171					187,171
Ending balance (in shares) at Jan. 29, 2022			13,964						(61)
Ending balance at Jan. 29, 2022	$ 225,472		$ 1,396	$ 160,348	$ 3,443	$ 77,914		$ (14,186)	$ (3,443)

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 187,171	$ (140,365)	$ 73,300
Reconciliation of net income (loss) to net cash provided by (used in) operating activities:
Non-cash portion of operating lease expense	100,564	113,145	149,006
Depreciation and amortization	58,417	66,405	74,788
Non-cash stock-based compensation expense	30,942	14,316	16,219
Asset impairment charges	1,506	38,527	6,039
Deferred income tax provision (benefit)	25,846	(32,660)	5,364
Loss on extinguishment of debt	3,679	0	0
Other non-cash charges, net	1,387	821	229
Changes in operating assets and liabilities:
Inventories	(40,870)	(61,080)	(23,537)
Accounts receivable and other assets	16,200	(3,616)	3,148
Prepaid expenses and other current assets	(7,191)	7,081	2,734
Income taxes payable, net of prepayments	(5,982)	(43,306)	8,574
Accounts payable and other current liabilities	(58,334)	71,720	17,502
Lease liabilities	(172,454)	(69,294)	(155,288)
Other long-term liabilities	(7,605)	2,589	(176)
Net cash provided by (used in) operating activities	133,276	(35,717)	177,902
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(29,307)	(30,585)	(57,502)
Acquisition of intangible assets	0	0	(76,951)
Change in deferred compensation plan	17	211	103
Net cash used in investing activities	(29,290)	(30,374)	(134,350)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under revolving credit facility	758,681	500,872	1,001,039
Repayments under revolving credit facility	(753,140)	(501,902)	(879,092)
Proceeds from issuance of term loan, net of discount	50,000	78,637	0
Repayment of term loan	(81,840)	0	0
Payment of debt issuance costs	(2,468)	(1,188)	0
Purchase and retirement of common stock, including shares surrendered for tax withholdings and transaction costs	(83,974)	(15,490)	(131,393)
Payment of dividends	0	0	(34,928)
Net cash provided by (used in) financing activities	(112,741)	60,929	(44,374)
Effect of exchange rate changes on cash and cash equivalents	(6)	223	173
Net decrease in cash and cash equivalents	(8,761)	(4,939)	(649)
Cash and cash equivalents, beginning of period	63,548	68,487	69,136
Cash and cash equivalents, end of period	54,787	63,548	68,487
OTHER CASH FLOW INFORMATION:
Net cash paid for income taxes	49,563	3,643	1,310
Cash paid for interest	14,774	10,831	7,553
Increase (decrease) in accrued capital expenditures	$ 842	$ (811)	$ (1,853)

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (Parenthetical)	12 Months Ended
	Feb. 02, 2019 $ / shares
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 2.24

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Jan. 29, 2022

Accounting Policies [Abstract]

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Description of Business

The Children’s Place, Inc. and subsidiaries (collectively, the “Company”) is the largest pure-play children’s specialty apparel retailer in North America. The Company provides apparel, footwear, accessories, and other items for children and ‘tweens.’ The Company designs, contracts to manufacture, sells at retail and wholesale, and licenses to sell trend right, high-quality merchandise predominantly at value prices, primarily under the Company’s proprietary “The Children’s Place”, “Place”, “Baby Place”, “Gymboree”, and “Sugar & Jade” brand names.

The Company classifies its business into two segments: The Children’s Place U.S. and The Children’s Place International. Included in The Children’s Place U.S. segment are the Company’s U.S. and Puerto Rico-based stores and revenue from its U.S.-based wholesale business. Included in The Children’s Place International segment are its Canadian-based stores, revenue from the Company’s Canadian-based wholesale business, as well as revenue from international franchisees. Each segment includes an e-commerce business located at www.childrensplace.com, www.gymboree.com, and www.sugarandjade.com.

Terms that are commonly used in the notes to the Company’s consolidated financial statements are defined as follows:

•Fiscal 2021 - The fifty-two weeks ended January 29, 2022

•Fiscal 2020 - The fifty-two weeks ended January 30, 2021

•Fiscal 2019 - The fifty-two weeks ended February 1, 2020

•Fiscal 2022 - The Company’s next fiscal year representing the fifty-two weeks ending January 28, 2023

•SEC - U.S. Securities and Exchange Commission

•U.S. GAAP - Generally Accepted Accounting Principles in the United States

•FASB - Financial Accounting Standards Board

•FASB ASC - FASB Accounting Standards Codification, which serves as the source for authoritative U.S. GAAP, except that rules and interpretive releases by the SEC are also sources of authoritative U.S. GAAP for SEC registrants

Fiscal Year

The Company’s fiscal year is a 52-week or 53-week period ending on the Saturday on or nearest to January 31. Fiscal 2021, 2020, and 2019 were 52-week years.

Basis of Presentation

The consolidated financial statements and accompanying notes to consolidated financial statements are prepared in accordance with U.S. GAAP and include the accounts of the Company and its wholly owned subsidiaries. Intercompany balances and transactions have been eliminated. As of January 29, 2022 and January 30, 2021, the Company did not have any investments in unconsolidated affiliates. FASB ASC 810—Consolidation is considered when determining whether an entity is subject to consolidation.

Certain reclassifications have been made to prior period financial statements to conform to the current period presentation.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and amounts of revenues and expenses reported during the period. Actual results could differ from the assumptions used and estimates made by management, which could have a material impact on the Company’s financial position or results of operations. Critical accounting estimates inherent in the preparation of the consolidated financial statements include impairment of long-lived assets, income taxes, stock-based compensation, and inventory valuation.

Cash and Cash Equivalents

The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents.

Accounts Receivable

Accounts receivable consists of credit and debit card receivables, franchisee and wholesale receivables, and other miscellaneous items. Credit and debit card receivables represent credit and debit card sales, inclusive of private label credit card sales, for which the respective third-party service company has yet to remit the cash. The unremitted balance approximates the last few days of related credit and debit card sales for each reporting period. Franchisee and wholesale receivables represent product sales and sales royalties in which cash has not yet been remitted by our partners. Bad debt associated with all sales has not been material.

Inventories

Inventories, which consist primarily of finished goods, are stated at the lower of cost or net realizable value, with cost determined on an average cost basis. The Company capitalizes certain buying, design, and supply chain costs in inventory, and these costs are reflected within Cost of sales as the inventories are sold. Inventory shrinkage is estimated in interim periods based upon the historical results of physical inventory counts in the context of current year facts and circumstances.

Derivative Instruments

The Company is exposed to gains and losses resulting from fluctuations in foreign currency exchange rates attributable to inventory purchases denominated in a foreign currency. Specifically, the functional currency of the Company’s Canadian subsidiary is the Canadian dollar, but it purchases inventory from suppliers in U.S. dollars. In order to mitigate the variability of cash flows associated with certain of these forecasted inventory purchases, the Company enters, from time to time, into foreign exchange forward contracts. These contracts typically mature within 12 months. The Company does not use forward contracts to engage in currency speculation, and it does not enter into derivative financial instruments for trading purposes. The Company accounts for all of its derivatives and hedging activity under FASB ASC 815—Derivatives and Hedging.

Under the Company’s risk management policy and in accordance with guidance under the topic, in order to qualify for hedge accounting treatment, a derivative must be considered highly effective at offsetting changes in either the hedged item’s cash flows or fair value. Additionally, the hedge relationship must be documented to include the risk management objective and strategy, the hedging instrument, the hedged item, the risk exposure, and how hedge effectiveness will be assessed prospectively and retrospectively. The Company formally measures effectiveness of its hedging relationships both at the hedge inception and on an ongoing basis. The Company discontinues hedge accounting under a foreign exchange forward contract prospectively: (i) if management determines that the derivative is no longer highly effective in offsetting changes in the cash flows of a hedged item, (ii) when the derivative expires or is terminated, (iii) if the forecasted transaction being hedged by the derivative is no longer probable of occurring, or (iv) if management determines that designation of the derivative as a hedge instrument is no longer appropriate.

All derivative instruments are presented at gross fair value on the Consolidated Balance Sheets within either Prepaid expenses and other current assets or Accrued expenses and other current liabilities. As of January 29, 2022 and January 30, 2021, the Company did not have any open foreign exchange forward contracts.

For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income (“OCI”) and reclassified into earnings within Cost of sales (exclusive of depreciation and amortization) in the same period or periods during which the hedged transaction affects earnings. Gains and losses on the derivative representing hedge ineffectiveness are recognized in earnings within Selling, general, and administrative expenses, consistent with where the Company records realized and unrealized foreign currency gains and losses on transactions denominated in foreign currencies. There were no losses related to hedge ineffectiveness during Fiscal 2021 or Fiscal 2020. Changes in fair value associated with derivatives that are not designated and qualify as cash flow hedges are recognized in earnings within Selling, general, and administrative expenses. During Fiscal 2021, there were no derivatives that qualified as cash flow hedges.

Deferred Financing Costs

The Company capitalizes costs directly associated with acquiring third-party financing. Deferred financing costs for the asset-based revolving credit facility are included in Other assets and are amortized as Interest expense over the term of the related indebtedness. As of January 29, 2022 and January 30, 2021, unamortized deferred financing costs amounted to $2.9 million and $3.6 million, respectively, of which $2.6 million and $1.2 million, respectively, related to the Company’s asset-based revolving credit facility.

Property and Equipment, Net

Property and equipment are stated at cost. Leasehold improvements are depreciated on a straight-line basis over the shorter of the life of the lease or the estimated useful life of the asset. All other property and equipment is depreciated on a straight-line basis based upon estimated useful lives, with furniture and fixtures and equipment generally ranging from 3 to 10 years and buildings and improvements generally ranging from 20 to 25 years. Repairs and maintenance are expensed as incurred.

The Company accounts for internally developed software intended for internal use in accordance with provisions of FASB ASC 350—Intangibles-Goodwill and Other. The Company capitalizes development-stage costs such as direct external costs and direct payroll related costs. When development is substantially complete and the software is ready for its intended use, the Company amortizes the cost of the software on a straight-line basis over the expected life of the software, which is generally 3 to 10 years. Preliminary project costs and post-implementation costs such as training, maintenance, and support are expensed as incurred.

Intangible Assets

The Company’s intangible assets include both indefinite-lived and finite-lived assets. Intangible assets with indefinite lives consist primarily of trademarks and acquired trade names, which are tested for impairment annually at the end of December or whenever circumstances indicate that a decline in value may have occurred. The Company estimates the fair value of these intangible assets based on an income approach using the relief-from-royalty method. The Company’s finite-lived intangible assets consist primarily of customer lists and other acquisition-related assets. Finite-lived intangible assets are amortized over their estimated useful economic lives and are reviewed for impairment when factors indicate that an impairment may have occurred. The Company recognizes an impairment charge when the estimated fair value of the intangible asset is less than the carrying value.

Impairment of Long-Lived Assets

The Company periodically reviews its long-lived assets for impairment when events indicate that their carrying value may not be recoverable. Such events include historical trends or projected trends of cash flow losses or a future expectation that the Company will sell or dispose of an asset significantly before the end of its previously estimated useful life. In reviewing for impairment, the Company groups its long-lived assets at the lowest possible level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities.

The Company reviews all stores that have reached comparable sales status for impairment on at least an annual basis, or sooner if circumstances so dictate. The Company believes waiting this period of time allows a store to reach a maturity level where a more comprehensive analysis of financial performance can be performed. For each store that shows indications of impairment, the Company performs a recoverability test comparing estimated undiscounted future cash flows to the carrying value of the related long-lived assets. If the undiscounted cash flows are less than the related net book value of the long-lived assets, they are written down to their fair market value. The Company primarily uses discounted future cash flows directly associated with those assets, which consist principally of property and equipment and right-of-use assets, to determine their fair market values. In evaluating future cash flows, the Company considers external and internal factors. External factors comprise the local environment in which the store resides, including mall traffic, competition, and their effect on sales trends, as well as macroeconomic factors, such as the global COVID-19 pandemic. Internal factors include the Company’s ability to gauge the fashion taste of its customers, control variable costs such as cost of sales and payroll, and in certain cases, its ability to renegotiate lease costs.

Insurance and Self-Insurance Reserves

The Company self-insures and purchases insurance policies to provide for workers’ compensation, general liability and property losses, cyber-security coverage, as well as director and officers’ liability, vehicle liability, and employee medical benefits. The Company estimates risks and records a liability based on historical claim experience, insurance deductibles,

severity factors, and other actuarial assumptions. The Company records the current portions of employee medical benefits, workers compensation, and general liability reserves within Accrued expenses and other current liabilities.

Leases

The Company has operating leases for retail stores, corporate offices, distribution facilities, and certain equipment. The Company’s leases have remaining lease terms ranging from less than one year up to nine years, some of which include options to extend the leases for up to five years, and some of which include options to terminate the lease early.

The lease liability is initially and subsequently measured at the present value of the unpaid lease payments at the lease commencement date. For operating leases, the right-of-use (“ROU”) asset is initially and subsequently measured throughout the lease term at the carrying amount of the lease liability, plus initial direct costs, less any accrued lease payments and unamortized lease incentives. For finance leases, the ROU asset is initially measured at cost and subsequently amortized using the straight-line method generally from the lease commencement date to the earlier of the end of its useful life or the end of the lease term.

The discount rate is the rate implicit in the lease, unless that rate cannot be readily determined. In that case, the Company is required to use its incremental borrowing rate. The discount rate for a lease is determined based on the information available at lease commencement. The Company accounts for the underlying leased asset and applies a discount rate at the lease level. However, there are certain non-real estate leases for which the Company utilizes the portfolio method by aggregating similar leased assets based on the underlying lease term.

The Company has made an accounting policy election by class of underlying asset to not apply the recognition requirements of FASB ASC 842—Leases (“Topic 842”) to leases with an initial term of 12 months or less. Leases with an initial lease term of 12 months or less are not recorded on the balance sheet. The Company recognizes lease expense for these leases on a straight-line basis over the lease term.

The Company has lease agreements with lease and non-lease components. The Company has elected a policy to account for lease and non-lease components as a single component for all asset classes.

In certain leases, the Company has the right to exercise lease renewal options. Renewal option periods are included in the measurement of lease liability and related right-of-use asset where the exercise is reasonably certain to occur.

As of the periods presented, the Company’s finance leases were not material to the Consolidated Balance Sheets, Consolidated Statements of Operations, or Consolidated Statements of Cash Flows.

The Company has certain lease agreements structured with both fixed base rent and contingent rent based on a percentage of sales over contractual levels, others with only contingent rent based on a percentage of sales, and some with a fixed base rent adjusted periodically for inflation or changes in fair market value of the underlying real estate. Contingent rent is recognized as sales occur. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The Company records all occupancy costs in Cost of sales, except costs for administrative office buildings, which are recorded in Selling, general, and administrative expenses.

In April 2020, the FASB staff released guidance regarding rent concessions related to the effects of the COVID-19 pandemic to allow for a temporary practical expedient (the “COVID-19 expedient”) to account for rent concessions as though enforceable rights and obligations for those concessions existed in the lease agreements. The election is available for concessions related to the effects of the COVID-19 pandemic that result in the total payments required by the modified contract being substantially the same as or less than total payments required by the original contract.

Upon the temporary closure of the Company’s store fleet in March 2020, the Company began negotiating for concessions of certain rent payments for the time the stores were impacted. These discussions and negotiations were substantially completed at the end of the second quarter of Fiscal 2021. For the lease concessions that have been agreed upon and executed, the Company did not reassess each existing contract to determine whether enforceable rights and obligations for concessions existed and elected not to apply the lease modification guidance in ASC 842 to those contracts that shared similar characteristics. Rather, the Company accounts for COVID-19 lease concessions as reductions to variable lease cost.

Accumulated Other Comprehensive Income (Loss)

Accumulated other comprehensive income (loss) primarily consists of cumulative translation adjustments as well as changes in the value of cash flow hedges, net of income taxes.

Treasury Stock

Treasury stock is recorded at acquisition cost. Gains and losses on disposition are recorded as increases or decreases to Additional paid-in capital with losses in excess of previously recorded gains charged directly to Retained earnings. When treasury shares are retired and returned to authorized but unissued status, the carrying value in excess of par is allocated to Additional paid-in capital and Retained earnings on a pro rata basis.

Income Taxes

The Company utilizes the liability method of accounting for income taxes as set forth in FASB ASC 740—Income Taxes. Under the liability method, deferred taxes are determined based on the temporary differences between the financial statement and tax basis of assets and liabilities, as well as for net operating losses and tax credit carryforwards. Deferred tax assets and liabilities are measured using currently enacted tax rates applied to taxable income in effect for the years in which the basis differences and tax assets are expected to be realized. A valuation allowance is recorded when it is more likely than not that any of the deferred tax assets will not be realized. In determining the need for valuation allowances, the Company considers projected future taxable income, the availability of tax planning strategies, taxable income in prior carryback years, and future reversals of existing taxable temporary differences. If, in the future, the Company determines that it would not be able to realize recorded deferred tax assets, an increase in the valuation allowance would decrease earnings in the period in which such determination is made.

The Company assesses income tax positions and records tax benefits for all years subject to examination based upon the Company’s evaluation of the facts, circumstances, and information available at the reporting date. For those tax positions where it is more likely than not that a tax benefit will be sustained, the Company has recorded the largest amount of tax benefit with a greater than 50% likelihood of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where it is not more likely than not that a tax benefit will be sustained, no tax benefit has been recognized in the consolidated financial statements.

Deferred Compensation Plan

The Company has a deferred compensation plan (the “Deferred Compensation Plan”), which is a nonqualified, unfunded plan, for eligible senior level employees. Under the Deferred Compensation Plan, a participant may elect to defer up to 80% of his or her base salary and/or up to 100% of his or her bonus to be earned for the year following the year in which the deferral election is made. The Deferred Compensation Plan also permits members of the Board of Directors to elect to defer payment of all or a portion of their retainer and other fees to be earned for the year following the year in which a deferral election is made. In addition, eligible employees and directors of the Company may elect to defer payment of any shares of Company stock that are earned with respect to deferred stock awards. Directors may elect to have all or a portion of their fees earned for their service on the Board invested in shares of the Company’s common stock. The Company is not required to contribute to the Deferred Compensation Plan, but at its sole discretion, can make additional contributions on behalf of the participants. Deferred amounts are not subject to forfeiture and are deemed invested among investment funds offered under the Deferred Compensation Plan, as directed by each participant. Payments of deferred amounts (as adjusted for earnings and losses) are payable following separation from service or at a date or dates elected by the participant at the time the deferral is elected. Payments of deferred amounts are generally made in either a lump sum or in annual installments over a period not exceeding 15 years. During fiscal 2010, the Deferred Compensation Plan was amended to allow for cash deferrals made by members of the Board of Directors to be invested in shares of the Company’s common stock. Such elections are irrevocable and will be settled in shares of common stock. All deferred amounts are payable in the form in which they were made, except for Board of Directors fees invested in shares of the Company’s common stock, which are settled in shares of Company common stock. Earlier distributions are not permitted, except in the case of an unforeseen hardship.

The Company has established a rabbi trust that serves as an investment to shadow the Deferred Compensation Plan liability. The assets of the rabbi trust are general assets of the Company and, as such, would be subject to the claims of creditors in the event of bankruptcy or insolvency. Investments of the rabbi trust consist of mutual funds and Company common stock. The Deferred Compensation Plan liability, excluding Company common stock, is included within Other long-term liabilities, and changes in the balance, except those relating to payments, are recognized as compensation expense within Selling, general, and administrative expenses. The value of the mutual funds in the rabbi trust is included in Other assets and related earnings

and losses are recognized as investment income or loss, within Selling, general, and administrative expenses. Company stock deferrals are included within the equity section of the Company’s Consolidated Balance Sheets as Treasury stock and as Deferred compensation. Deferred stock is recorded at fair market value at the time of deferral, and any subsequent changes in fair market value are not recognized.

Legal Contingencies

The Company reserves for the outcome of litigation and contingencies when it determines an adverse outcome is probable and can estimate losses. Estimates are adjusted as facts and circumstances require. The Company expenses the costs to resolve litigation as incurred, net of amounts, if any, recovered through insurance coverage.

Foreign Currency Translation and Transactions

The Company has determined that the local currencies of its Canadian and Asian subsidiaries are their functional currencies. In accordance with FASB ASC 830—Foreign Currency Matters, the assets and liabilities denominated in foreign currencies are translated into U.S. dollars at the current rates of exchange existing at period-end, and revenues and expenses are translated at average monthly exchange rates. Related translation adjustments are reported as a separate component of stockholders’ equity. The Company also transacts certain business in foreign denominated currencies primarily with its Canadian subsidiary purchasing inventory in U.S. dollars, and there are inter-company charges between various subsidiaries.

Fair Value Measurement and Financial Instruments

FASB ASC 820—Fair Value Measurement provides a single definition of fair value, together with a framework for measuring it, and requires additional disclosure about the use of fair value to measure assets and liabilities.

This topic defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date and establishes a three-level hierarchy, which encourages an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of the hierarchy are defined as follows:

•Level 1 - inputs to the valuation techniques that are quoted prices in active markets for identical assets or liabilities

•Level 2 - inputs to the valuation techniques that are other than quoted prices, but are observable for the assets or liabilities, either directly or indirectly

•Level 3 - inputs to the valuation techniques that are unobservable for the assets or liabilities

The Company’s cash and cash equivalents, accounts receivable, investments in the rabbi trust, accounts payable, and revolving loan are all short-term in nature. As such, their carrying amounts approximate fair value and fall within Level 1 of the fair value hierarchy. The Company stock included in the Deferred Compensation Plan is not subject to fair value measurement.

The Company’s derivative assets and liabilities include foreign exchange forward contracts that are measured at fair value using observable market inputs such as forward rates, the Company’s credit risk, and counterparties’ credit risks. Based on these inputs, the Company’s derivative assets and liabilities are classified within Level 2 of the fair value hierarchy.

The Company’s assets measured at fair value on a nonrecurring basis include long-lived assets, such as intangible assets, fixed assets, and ROU assets. The Company reviews the carrying amounts of such assets when events indicate that their carrying amounts may not be recoverable. Any resulting asset impairment would require that the asset be recorded at its fair value. The resulting fair value measurements of the assets are considered to fall within Level 3 of the fair value hierarchy.

Revenues

Revenues are recognized when control of the promised goods or services is transferred to the Company’s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services.

The Company recognizes revenue, including shipping and handling fees billed to customers, upon purchase at the Company’s retail stores or when received by the customer if the product was purchased via e-commerce, net of coupon redemptions and anticipated sales returns. The Company deferred sales of $3.6 million and $5.3 million within Accrued expenses and other current liabilities as of January 29, 2022 and January 30, 2021, respectively, based upon estimated time of delivery, at which point control passes to the customer. Sales tax collected from customers is excluded from revenue.

For the sale of goods with a right of return, the Company recognizes revenue for the consideration it expects to be entitled to and calculates an allowance for estimated sales returns based upon the Company’s sales return experience. Adjustments to the allowance for estimated sales returns in subsequent periods have not been material based on historical data, thereby reducing the uncertainty inherent in such estimates. The allowance for estimated sales returns, which is recorded in Accrued expenses and other current liabilities, was $1.0 million as of January 29, 2022 and January 30, 2021.

The Company’s private label credit card is issued to customers for use exclusively at The Children’s Place stores and online at www.childrensplace.com, www.gymboree.com, and www.sugarandjade.com, and credit is extended to such customers by a third-party financial institution on a non-recourse basis to the Company. The private label credit card includes multiple performance obligations for the Company, including marketing, promoting the program on behalf of the bank and the operation of a loyalty rewards program. Included in the agreement with the third-party financial institution was an upfront bonus paid to the Company. The upfront bonus is recognized as revenue and allocated between brand and reward obligations. As the license of the Company’s brand is the predominant item in the performance obligation, the amount allocated to the brand obligation is recognized on a straight-line basis over the initial term. The amount allocated to the reward obligation is recognized on a point-in-time basis as redemptions under the loyalty program occur.

In measuring revenue and determining the consideration the Company is entitled to as part of a contract with a customer, the Company takes into account the related elements of variable consideration, such as additional bonuses, including profit-sharing, over the life of the program. Similar to the upfront bonus, the usage-based royalties and bonuses are recognized as revenue and allocated between the brand and reward obligations. The amount allocated to the brand obligation is recognized on a straight-line basis over the initial term. The amount allocated to the reward obligation is recognized on a point-in-time basis as redemptions under the loyalty program occur. In addition, the annual profit-sharing amount is estimated and recognized quarterly within an annual period when earned. The additional bonuses are amortized over the contract term based on anticipated progress against future targets and level of risk associated with achieving the targets.

The Company has a points-based customer loyalty program in which customers earn points based on purchases and other promotional activities. These points can be redeemed for coupons to discount future purchases. A contract liability is estimated based on the standalone selling price of benefits earned by customers through the program and the related redemption experience under the program. The value of each point earned is recorded as deferred revenue and is included within Accrued expenses and other current liabilities. The total contract liabilities related to this program were $5.0 million and $2.7 million as of January 29, 2022 and January 30, 2021, respectively.

The Company’s policy with respect to gift cards is to record revenue as and when the gift cards are redeemed for merchandise. The Company recognizes gift card breakage income in proportion to the pattern of rights exercised by the customer when the Company expects to be entitled to breakage and the Company determines that it does not have a legal obligation to remit the value of the unredeemed gift card to the relevant jurisdiction as unclaimed or abandoned property. Gift card breakage is recorded within Net sales. Prior to their redemption, gift cards are recorded as a liability within Accrued expenses and other current liabilities. The liability is estimated based on expected breakage that considers historical patterns of redemption.

The Company has an international program of territorial agreements with franchisees. The Company generates revenues from the franchisees from the sale of product and, in certain cases, sales royalties. The Company recognizes revenue on the sale of product to franchisees when the franchisee takes ownership of the product. The Company records net sales for royalties when the applicable franchisee sells the product to customers. Under certain agreements, the Company receives a fee from each franchisee for exclusive territorial rights and based on the opening of new stores. The Company records these territorial fees as deferred revenue and amortizes the fee into Net sales over the life of the territorial agreement.

Cost of Sales (exclusive of depreciation and amortization)

In addition to the cost of inventory sold, the Company includes certain buying, design, and distribution expenses, shipping and handling costs on merchandise sold directly to customers, and letter of credit fees in Cost of sales. The Company records all occupancy costs in Cost of sales, except for administrative office buildings, which are recorded in Selling, general, and administrative expenses. All depreciation is reported on a separate line in the Company’s Consolidated Statements of Operations.

Stock-based Compensation

The Company’s stock-based compensation plans are administered by the Human Capital & Compensation Committee of the Board of Directors. The Human Capital & Compensation Committee is comprised of independent members of the Board of

Directors. Effective May 20, 2011, the shareholders approved the 2011 Equity Incentive Plan (the “Equity Plan”). The Equity Plan allows the Human Capital & Compensation Committee to grant multiple forms of stock-based compensation, such as stock options, stock appreciation rights, restricted stock awards, deferred stock awards, and performance stock awards.

The Company accounts for stock-based compensation in accordance with the provisions of FASB ASC 718— Compensation—Stock Compensation. These provisions require, among other things: (a) the fair value at grant date of all stock awards be expensed over their respective vesting periods; (b) the amount of cumulative compensation cost recognized at any date must at least be equal to the portion of the grant-date value of the award that is vested at that date; and (c) that compensation expense include a forfeiture estimate for those shares not expected to vest. The fair value of all stock awards is based on the closing price of the Company’s common stock on the grant date. Also, in accordance with these provisions, for those awards with multiple vest dates, the Company recognizes compensation cost on a straight-line basis over the requisite service period for the entire award. The expense recognized for Performance Awards throughout the service period and the number of shares that are projected to ultimately vest, are based on the estimated degree to which the related performance metrics are expected to be achieved.

Advertising and Marketing Costs

The Company expenses the cost of advertising over the period the advertising is run or displayed. Advertising and other marketing costs are recorded in Selling, general, and administrative expenses and amounted to $44.3 million, $31.1 million, and $35.0 million in Fiscal 2021, Fiscal 2020, and Fiscal 2019, respectively. Deferred advertising, marketing, and promotional costs, which principally relate to advertisements that have not yet been exhibited or services that have not yet been received, were $1.4 million and $0.8 million at January 29, 2022 and January 30, 2021, respectively, and were recorded within Prepaid expenses and other current assets in the Company’s Consolidated Balance Sheets.

Earnings per Common Share

The Company reports its earnings per share in accordance with FASB ASC 260—Earnings Per Share, which requires the presentation of both basic and diluted earnings per share on the Consolidated Statements of Operations. The diluted weighted average common shares include adjustments for the potential effects of outstanding stock options, Deferred Awards, and Performance Awards (as both terms are used in “Note 11. Stock-Based Compensation” to these consolidated financial statements), but only in the periods in which such effect is dilutive under the treasury stock method. Included in basic and diluted weighted average common shares are those shares, due to participants in the Deferred Compensation Plan, which are held in treasury stock. Anti-dilutive stock awards are comprised of unvested deferred, restricted, and performance shares which would have been anti-dilutive in the application of the treasury stock method in accordance with FASB ASC 260—Earnings Per Share.

In accordance with this topic, the following table reconciles share amounts utilized to calculate basic and diluted net income per common share:


	Fiscal Years Ended
	January 29, 2022	January 30, 2021	February 1, 2020



	(in thousands)
Basic weighted average common shares	14,597	14,631	15,547
Dilutive effect of stock awards	273	—	106
Diluted weighted average common shares	14,870	14,631	15,653

Recently Issued Accounting Updates

Adopted in Fiscal 2021

In December 2019, the FASB issued guidance related to the accounting for income taxes. The guidance aims to simplify the accounting for income taxes by removing certain exceptions to the general principles within the previous guidance and by clarifying and amending the previous guidance. The guidance was effective for annual reporting periods, and interim periods within those years, beginning after December 15, 2020. The Company adopted this guidance in the first quarter of Fiscal 2021. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements.

REVENUES

12 Months Ended

Jan. 29, 2022

Revenue from Contract with Customer [Abstract]

REVENUES

The following table presents the Company’s revenues disaggregated by geography:


	Fiscal Years Ended
	January 29, 2022		January 30, 2021		February 1, 2020
	(in thousands)
Net sales:
South	$	724,375	$	579,348	$	659,519
Northeast	412,785		325,124		429,857
West	277,162		219,686		290,290
Midwest	242,392		197,697		234,621
International and other	258,650		200,743		256,380
Total net sales	$	1,915,364	$	1,522,598	$	1,870,667

As discussed in “Note 1. Basis of Presentation and Summary of Significant Accounting Policies”, gift cards are recorded as a liability within Accrued expenses and other current liabilities. The following table provides the reconciliation of the contract liability related to gift cards:


	January 29, 2022
	(in thousands)
Balance at January 30, 2021	$	13,634
Gift cards sold	25,085
Gift cards redeemed	(23,617)
Gift card breakage	(3,031)
Balance at January 29, 2022	$	12,071

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

INTANGIBLE ASSETS

12 Months Ended

Jan. 29, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

On April 4, 2019, the Company acquired certain intellectual property and related assets (the “Gymboree Assets”) of Gymboree Group, Inc. and related entities, which included the worldwide rights to the names “Gymboree” and “Crazy 8” and other intellectual property, including trademarks, domain names, copyrights, and customer databases. These intangible assets, inclusive of acquisition costs, are recorded in the long-term assets section of the Consolidated Balance Sheets.

The Company’s intangible assets were as follows:


		January 29, 2022
	Useful Life	Gross Amount		Accumulated Amortization		Net Amount
		(in thousands)
Gymboree tradename (1)	Indefinite	$	69,953	$	—	$	69,953
Crazy 8 tradename (1)	5 years	4,000		(2,261)		1,739
Customer databases (2)	3 years	3,000		(2,827)		173
Total intangibles, net		$	76,953	$	(5,088)	$	71,865


		January 30, 2021
	Useful Life	Gross Amount		Accumulated Amortization		Net Amount
		(in thousands)
Gymboree tradename (1)	Indefinite	$	69,953	$	—	$	69,953
Crazy 8 tradename (1)	5 years	4,000		(1,461)		2,539
Customer databases (2)	3 years	3,000		(1,827)		1,173
Total intangibles, net		$	76,953	$	(3,288)	$	73,665

____________________________________________

(1)Included within Tradenames, net on the Consolidated Balance Sheets.

(2)Included within Other assets on the Consolidated Balance Sheets.

PROPERTY AND EQUIPMENT, NET

12 Months Ended

Jan. 29, 2022

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

Property and equipment consisted of the following:


	January 29, 2022		January 30, 2021
	(in thousands)
Property and equipment:
Land and land improvements	$	3,403	$	3,403
Building and improvements	36,045		36,133
Material handling equipment	64,989		58,034
Leasehold improvements	197,436		216,989
Store fixtures and equipment	212,613		226,404
Capitalized software	320,716		296,967
Construction in progress	8,170		15,211
	843,372		853,141
Less accumulated depreciation and amortization	(688,366)		(671,340)
Property and equipment, net	$	155,006	$	181,801

During Fiscal 2021, the Company reviewed its store related long-lived assets for indicators of impairment, and performed a recoverability test if indicators were identified. Based on the results of the analysis performed, the Company recorded asset impairment charges of $1.5 million, inclusive of ROU assets, primarily related to the impairment of two stores during Fiscal 2021.

During Fiscal 2020, the Company reviewed its store related long-lived assets for 749 stores with a total net book value of $43.6 million for indicators of impairment, and performed a recoverability test if indicators were identified. Based on the results of the analysis performed, the Company recorded asset impairment charges of $38.5 million, inclusive of ROU assets, primarily related to the impairment of 419 stores during Fiscal 2020.

During Fiscal 2019, the Company reviewed its store related long-lived assets for 924 stores with a total net book value of $65.0 million for indicators of impairment, and performed a recoverability test if indicators were identified. Based on the results of the analysis performed, the Company recorded asset impairment charges of $6.0 million during Fiscal 2019, of which $3.2 million related to the impairment of 29 stores, and $2.8 million related to the write-down of information technology systems.

PREPAID EXPENSES AND OTHER CURRENT ASSETS

12 Months Ended

Jan. 29, 2022

Prepaid Expenses and Other Current Assets [Abstract]

PREPAID EXPENSES AND OTHER CURRENT ASSETS

Prepaid expenses and other current assets consisted of the following:


	January 29, 2022		January 30, 2021
	(in thousands)
Prepaid income taxes	$	54,043	$	43,752
Prepaid cloud computing	7,187		3,836
Prepaid maintenance contracts	3,709		2,433

Prepaid property expense	1,678		281



Other	9,458		5,558
Total Prepaid expenses and other current assets	$	76,075	$	55,860

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

12 Months Ended

Jan. 29, 2022

Payables and Accruals [Abstract]

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities consisted of the following:


	January 29, 2022		January 30, 2021
	(in thousands)
Accrued salaries and benefits	$	44,494	$	33,817
Accrued property expenses	18,990		5,756
Customer liabilities	11,354		12,904
Accrued capital expenditures	5,277		3,443
Deferred revenue for MyPlace Rewards loyalty program	4,971		2,669
Deferred revenue	4,613		6,306
Accrued freight	4,196		4,811
Sales taxes and other taxes payable	4,147		13,936
Accrued marketing	4,015		3,206

Insurance reserves	3,487		4,113
Accrued store expenses	2,696		3,893
Accrued professional fees	2,114		1,488



Other	20,315		20,162
Total Accrued expenses and other current liabilities	$	130,669	$	116,504

LEASES

12 Months Ended

Jan. 29, 2022

Leases [Abstract]

LEASES

The following components of lease expense were recognized in the Company’s Consolidated Statements of Operations:


	Fiscal Years Ended
	January 29, 2022		January 30, 2021		February 1, 2020
	(in thousands)
Fixed operating lease cost	$	113,681	$	128,373	$	149,006
Variable operating lease cost (1)	39,711		44,085		64,228
Total operating lease cost	$	153,392	$	172,458	$	213,234

____________________________________________

(1)Includes short term leases with lease periods of less than 12 months as well as lease abatements accounted for as reductions to variable lease costs under the COVID-19 expedient of $12.1 million and $12.9 million for Fiscal 2021 and Fiscal 2020, respectively.

As of January 29, 2022, the weighted-average remaining operating lease term was 4.3 years, and the weighted-average discount rate for operating leases was 5.2%. Cash paid for amounts included in the measurement of operating lease liabilities in Fiscal 2021 was $172.5 million. ROU assets obtained in exchange for new operating lease liabilities were $14.0 million in Fiscal 2021.

As of January 29, 2022, the maturities of operating lease liabilities were as follows:


	January 29, 2022
	(in thousands)
2022	$	98,415
2023	52,337
2024	30,478
2025	18,384
2026	16,066
Thereafter	33,945
Total lease payments	249,625
Less: imputed interest	(23,767)
Present value of operating lease liabilities	$	225,858

DEBT

12 Months Ended

Jan. 29, 2022

Debt Disclosure [Abstract]

DEBT

On November 16, 2021, the Company completed the refinancing of its previous $360.0 million asset-based revolving credit facility (“Previous ABL Credit Facility”) and previous $80.0 million term loan with a new lending group led by an affiliate of Wells Fargo Bank, National Association (“Wells Fargo”) by entering into a fourth amendment to its Credit Agreement, dated as of May 9, 2019, with the lenders party thereto. The new debt consists of a revolving credit facility with $350.0 million of availability (the “ABL Credit Facility”) and a $50.0 million term loan (the “Term Loan”). In connection with the refinancing, the Company recorded a charge of $3.7 million, which is included within Interest expense on the Consolidated Statements of Operations and consists of a prepayment penalty and the write-off of unamortized deferred financing costs and debt discount.

ABL Credit Facility and Term Loan

The Company and certain of its subsidiaries maintain the $350 million ABL Credit Facility and the $50 million Term Loan with Wells Fargo, Truist Bank, Bank of America, N.A., HSBC Business Credit (USA) Inc., and JPMorgan Chase Bank, N.A., as lenders (collectively, the “Lenders”) and Wells Fargo, as Administrative Agent, Collateral Agent, Swing Line Lender and Term Agent. Both the ABL Credit Facility and the Term Loan mature in November 2026, and both of these debt facilities have lower interest rates, reduced reporting requirements, and increased flexibility under the covenants compared to the Previous ABL Credit Facility and Previous Term Loan.

The ABL Credit Facility includes a $25 million Canadian sublimit and a $50 million sublimit for standby and documentary letters of credit.

Borrowings outstanding under the ABL Credit Facility bear interest, at the Company’s option, at:

(i)the prime rate plus a margin of 0.375% or 0.625% based on the amount of the Company’s average excess availability under the facility; or

(ii)the London InterBank Offered Rate, or “LIBOR”, for an interest period of one, three, or six months, as selected by the Company, plus a margin of 1.125% or 1.375% based on the amount of the Company’s average excess availability under the facility.

The Company is charged an unused line fee of 0.20% on the unused portion of the commitments. Letter of credit fees range from 0.563% to 0.683% for commercial letters of credit and range from 0.625% to 0.875% for standby letters of credit. Letter of credit fees are determined based on the amount of the Company’s average excess availability under the facility. The amount available for loans and letters of credit under the Credit Agreement is determined by a borrowing base consisting of certain credit card receivables, certain trade receivables, certain inventory, and the fair market value of certain real estate, subject to certain reserves.

The outstanding obligations under the ABL Credit Facility may be accelerated upon the occurrence of certain events, including, among others, non-payment, breach of covenants, the institution of insolvency proceedings, defaults under other material indebtedness, and a change of control, subject, in the case of certain defaults, to the expiration of applicable grace periods. The Company is not subject to any early termination fees.

The ABL Credit Facility contains covenants, which include conditions on stock buybacks and the payment of cash dividends or similar payments. These covenants also limit the ability of the Company and its subsidiaries to incur certain liens, to incur certain indebtedness, to make certain investments, acquisitions, or dispositions or to change the nature of its business.

Credit extended under the ABL Credit Facility is secured by a first priority security interest in substantially all of the Company’s U.S. and Canadian assets other than intellectual property, certain furniture, fixtures, equipment, and pledges of subsidiary capital stock, and a second priority security interest in the Company’s intellectual property, certain furniture, fixtures, equipment, and pledges of subsidiary capital stock.

The table below presents the components of the Company’s ABL Credit Facility and Previous ABL Credit Facility:


	January 29, 2022		January 30, 2021
	(in millions)
Credit facility maximum	$	350.0	$	360.0
Borrowing base (1)	279.7		282.2

Outstanding borrowings	175.3		169.8

Letters of credit outstanding—standby	7.4		8.2
Utilization of credit facility at end of period	182.7		178.0

Availability (2)	$	97.0	$	104.2

Interest rate at end of period	1.6%		4.2%


	Fiscal Years Ended
	January 29, 2022		January 30, 2021
Average end of day loan balance during the period	$	187.0	$	216.2
Highest end of day loan balance during the period	269.7		275.6
Average interest rate	3.6%		3.8%

____________________________________________

(1)Lower of the credit facility maximum or the total borrowing base collateral.

(2)The sub-limit availability for letters of credit was $42.6 million and $41.8 million at January 29, 2022 and January 30, 2021, respectively.

The Term Loan bears interest, payable monthly, at (a) the LIBOR Rate plus 2.50% for any portion that is a LIBOR loan, or (b) the base rate plus 1.75% for any portion that is a base rate loan. The Term Loan is pre-payable at any time without penalty, and does not require amortization. For Fiscal 2021, the Company recognized $5.9 million in interest expense related to the Term Loan and the Previous Term Loan.

The Term Loan is secured by a first priority security interest in the Company’s intellectual property, certain furniture, fixtures, equipment, and pledges of subsidiary capital stock, and a second priority security interest in the collateral securing the

ABL Credit Facility on a first-priority basis. The Term Loan is guaranteed by each of the Company’s subsidiaries that guarantee the ABL Credit Facility and shares substantially the same covenants as provided in the ABL Credit Facility. Both the ABL Credit Facility and the Term Loan contain customary events of default, which include (subject in certain cases to customary grace and cure periods), nonpayment of principal or interest, breach of other covenants, failure to pay certain other indebtedness, and certain events of bankruptcy, insolvency or reorganization.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Jan. 29, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Commitments As of January 29, 2022, the Company entered into various purchase commitments for the next 12 months for merchandise for re-sale of approximately $365.0 million and approximately $18.0 million for equipment, construction, and other non-merchandise commitments. The Company also has operating lease and standby letters of credit commitments of $249.6 million and $7.4 million, respectively. Legal and Regulatory Matters The Company is a defendant in Rael v. The Children’s Place, Inc., a purported class action, pending in the U.S. District Court, Southern District of California. In the initial complaint filed in February 2016, the plaintiff alleged that the Company falsely advertised discount prices in violation of California’s Unfair Competition Law, False Advertising Law, and Consumer Legal Remedies Act. The plaintiff filed an amended complaint in April 2016, adding allegations of violations of other state consumer protection laws. In August 2016, the plaintiff filed a second amended complaint, adding an additional plaintiff and removing the other state law claims. The plaintiffs’ second amended complaint sought to represent a class of California purchasers and sought, among other items, injunctive relief, damages, and attorneys’ fees and costs. The Company engaged in mediation proceedings with the plaintiffs in December 2016 and April 2017. The parties reached an agreement in principle in April 2017, and signed a definitive settlement agreement in November 2017, to settle the matter on a class basis with all individuals in the U.S. who made a qualifying purchase at The Children’s Place from February 11, 2012 through January 28, 2020, the date of preliminary approval by the court of the settlement. The Company submitted its memorandum in support of final approval of the class settlement on March 2, 2021. On March 29, 2021, the court granted final approval of the class settlement and denied plaintiff’s motion for attorney’s fees, with the amount of attorney’s fees to be decided after the class recovery amount has been determined. The settlement provides merchandise vouchers for qualified class members who submit valid claims, as well as payment of legal fees and expenses and claims administration expenses. Vouchers were distributed to class members on November 15, 2021 and they will be eligible for redemption in multiple rounds through November 2023. In connection with the settlement, the Company recorded a reserve for $5.0 million in its consolidated financial statements in the first quarter of 2017. The Company is also involved in various legal proceedings arising in the normal course of business. In the opinion of management, any ultimate liability arising out of these proceedings will not have a material adverse effect on the Company’s financial position, results of operations, or cash flows.

STOCKHOLDERS' EQUITY

12 Months Ended

Jan. 29, 2022

Stockholders' Equity Note [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS’ EQUITY

Share Repurchase Programs

In March 2018, the Board of Directors authorized a $250.0 million share repurchase program (the “2018 Share Repurchase Program”). In November 2021, the Board of Directors approved another $250.0 million share repurchase program, which added to the remaining availability under the 2018 Share Repurchase Program. Under these programs, the Company may repurchase shares on the open market at current market prices at the time of purchase or in privately negotiated transactions. The timing and actual number of shares repurchased under a program will depend on a variety of factors, including price, corporate and regulatory requirements, and other market and business conditions. The Company may suspend or discontinue the programs at any time and may thereafter reinstitute purchases, all without prior announcement. As of January 29, 2022, there was $257.3 million remaining under these programs. From March 2020 through July 2021, the Company suspended share repurchases, other than to satisfy withholding tax requirements of equity award recipients, due to the COVID-19 pandemic.

Pursuant to the Company’s practice, including due to restrictions imposed by the Company’s insider trading policy during black-out periods, the Company withholds and repurchases shares of vesting stock awards and makes payments to taxing authorities as required by law to satisfy the withholding tax requirements of all equity award recipients. The Company’s payment of the withholding taxes in exchange for the surrendered shares constitutes a repurchase of its common stock. The Company also acquires shares of its common stock in conjunction with liabilities owed under the Company’s Deferred Compensation Plan, which are held in treasury.

The following table summarizes the Company’s share repurchases:


	Fiscal Years Ended
	January 29, 2022		January 30, 2021		February 1, 2020
	Shares	Amount	Shares	Amount	Shares	Amount
	(in thousands)
Share repurchases related to:
Share repurchase program	1,025	85,648	294	15,490	1,585	131,393
Shares acquired and held in treasury	4	278	6	209	4	271

In accordance with FASB ASC 505—Equity, the par value of the shares retired is charged against Common stock and the remaining purchase price is allocated between Additional paid-in capital and Retained earnings. The portion charged against Additional paid-in capital is determined using a pro-rata allocation based on total shares outstanding. For all shares retired in Fiscal 2021, Fiscal 2020, and Fiscal 2019, $66.5 million, $10.6 million, and $108.0 million was charged to Retained earnings, respectively.

Dividends

In March 2020, the Company announced it had temporarily suspended its dividend payments due to the COVID-19 pandemic.

Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Company’s Board of Directors based on a number of factors, including business and market conditions, the Company’s financial performance, and other investment priorities.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

STOCK-BASED COMPENSATION

12 Months Ended

Jan. 29, 2022

Share-based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

The Company generally grants time vesting stock awards (“Deferred Awards”) and performance-based stock awards (“Performance Awards”) to employees at management levels. The Company also grants Deferred Awards to its non-employee directors. Deferred Awards are granted in the form of restricted stock units that require each recipient to complete a service period. Deferred Awards generally vest ratably over three years, except for those granted to non-employee directors, which generally vest over one year. Performance Awards are granted in the form of restricted stock units which have performance criteria that must be achieved for the awards to vest in addition to a service period requirement. With the approval of the Human Capital & Compensation Committee, the Company may settle vested Deferred Awards and Performance Awards to the employee in shares, in a cash amount equal to the market value of such shares at the time all requirements for delivery of the award have been met, or in part shares and cash.

For Performance Awards granted in Fiscal 2021, employees may earn from 0% to 300% of their target shares and for Performance Awards granted in Fiscal 2020 and Fiscal 2019, employees may earn from 0% to 250% of their Target Shares, based on the terms of the award and the Company’s achievement of certain performance goals established at the beginning of the applicable service period. Performance Awards cliff vest, if earned, after completion of the applicable service period, which is generally three years.

The following table summarizes the Company’s stock-based compensation expense:


	Fiscal Years Ended
	January 29, 2022		January 30, 2021		February 1, 2020
	(in thousands)
Deferred Awards	$	13,061	$	14,100	$	18,910
Performance Awards	17,881		216		(2,691)

Total stock-based compensation expense (1)	$	30,942	$	14,316	$	16,219

____________________________________________

(1) Stock-based compensation expense recorded within Cost of sales (exclusive of depreciation and amortization) amounted to $3.3 million, $3.4 million, and $3.6 million in Fiscal 2021, Fiscal 2020, and Fiscal 2019, respectively. All other stock-based compensation expense is included in Selling, general, and administrative expenses.

The Company recognized a tax benefit related to stock-based compensation expense of $2.6 million, $3.8 million, and $4.3 million for Fiscal 2021, Fiscal 2020, and Fiscal 2019, respectively.

At January 29, 2022, the Company had 596,216 shares available for grant under the Equity Plan.

Changes in the Company’s Unvested Stock Awards

Deferred Awards


	Fiscal Years Ended
	January 29, 2022			January 30, 2021			February 1, 2020
	Number of Shares	Weighted Average Grant Date Fair Value		Number of Shares	Weighted Average Grant Date Fair Value		Number of Shares	Weighted Average Grant Date Fair Value
	(in thousands)			(in thousands)			(in thousands)
Unvested Deferred Awards at beginning of year	550	$	55.43	377	$	97.88	299	$	99.98
Granted	157	76.59		410	41.73		264	102.21
Vested	(229)	63.73		(161)	107.55		(126)	105.24
Forfeited	(11)	92.10		(76)	82.07		(60)	112.09
Unvested Deferred Awards at end of year	467	$	57.60	550	$	55.43	377	$	97.88

Total unrecognized stock-based compensation expense related to unvested Deferred Awards was $14.4 million as of January 29, 2022, which will be recognized over a weighted average period of approximately 1.7 years.

The fair value of Deferred Awards that vested during Fiscal 2021, Fiscal 2020, and Fiscal 2019 was $14.6 million, $5.3 million, and $13.5 million, respectively.

Performance Awards


	Fiscal Years Ended
	January 29, 2022			January 30, 2021			February 1, 2020
	Number of Shares(1)	Weighted Average Grant Date Fair Value		Number of Shares(1)	Weighted Average Grant Date Fair Value		Number of Shares(1)	Weighted Average Grant Date Fair Value
	(in thousands)			(in thousands)			(in thousands)
Unvested Performance Awards at beginning of year	350	$	74.37	342	$	99.97	352	$	90.66
Granted	164	75.01		144	52.16		201	98.49
Shares earned in excess of (below) target	(22)	65.34		(101)	118.00		181	75.83
Vested shares, including shares earned in excess of target	(119)	89.44		(4)	107.51		(354)	76.36
Forfeited	(7)	90.22		(31)	107.24		(38)	110.77
Unvested Performance Awards at end of year	366	$	70.01	350	$	74.37	342	$	99.97

____________________________________________

(1)For awards for which the performance period is complete, the number of unvested shares is based on actual shares that will vest upon completion of the service period. For awards for which the performance period is not yet complete, the number of unvested shares is based on the participants earning their target shares at 100%.

The cumulative expense recognized for Performance Awards reflects changes in the probability that the performance criteria will be achieved as they occur. Based on the current number of Performance Awards expected to be earned, total unrecognized stock-based compensation expense related to unvested Performance Awards was $13.2 million as of January 29, 2022, which will be recognized over a weighted average period of approximately 1.8 years.

The fair value of Performance Awards that vested during Fiscal 2021, Fiscal 2020, and Fiscal 2019 was $10.6 million, $0.1 million, and $33.9 million, respectively.

INCOME TAXES

12 Months Ended

Jan. 29, 2022

Income Tax Disclosure [Abstract]

INCOME TAXES

The components of Income (loss) before provision (benefit) for income taxes were as follows:


	Fiscal Years Ended
	January 29, 2022		January 30, 2021		February 1, 2020
	(in thousands)
Domestic	$	198,173	$	(250,876)	$	36,660
Foreign	58,857		39,118		51,757
Total income (loss) before provision (benefit) for income taxes	$	257,030	$	(211,758)	$	88,417

The components of the Company’s Provision (benefit) for income taxes consisted of the following:


	Fiscal Years Ended
	January 29, 2022			January 30, 2021			February 1, 2020

	(in thousands)
Current:
Federal	$	29,406		$	(45,072)		$	1,810
State and local	7,389			212			1,186
Foreign	7,218			5,728			6,757
	44,013			(39,132)			9,753
Deferred:
Federal	14,517			(14,274)			4,240
State and local	8,780			(15,968)			1,066
Foreign	2,549			(2,019)			58
	25,846			(32,261)			5,364
Total provision (benefit) for income taxes	$	69,859		$	(71,393)		$	15,117
Effective tax rate	27.2		%	33.7		%	17.1		%

On March 27, 2020, the CARES Act was enacted in response to the COVID-19 pandemic. The CARES Act allows net operating losses (“NOLs”) incurred in taxable years 2018, 2019, and 2020 to be carried back to each of the five preceding taxable years to offset 100% of taxable income and to generate a refund of previously paid income taxes. Pursuant to the CARES Act, the Company carried back the Fiscal 2020 tax loss of approximately $150.0 million to prior years and the resulting income tax receivable of $41.1 million is included within Prepaid expenses and other current assets on the Consolidated Balance Sheets.

A reconciliation between the calculated tax provision (benefit) based on the U.S. federal statutory rate of 21.0% and the effective tax rate for Fiscal 2021, Fiscal 2020, and Fiscal 2019 follows:


	Fiscal Years Ended
	January 29, 2022		January 30, 2021		February 1, 2020
	(in thousands)
Calculated income tax provision (benefit) at U.S. federal statutory rate	$	53,976	$	(44,471)	$	18,568
State and local income taxes, net of federal benefit	14,394		(12,447)		1,779
Foreign tax rate differential (1)	(3,598)		(5,791)		(5,019)
Non-deductible expenses	7,301		2,654		1,491
Excess tax detriment (benefit) related to stock compensation	(293)		2,051		(1,914)



Unrecognized tax benefits	1,050		1,150		1,304
Change in valuation allowance	358		(10)		(21)
Global intangible low-taxed income	1,476		7,815		836
Federal tax credits	(2,882)		(1,422)		(1,790)
CARES Act Carryback (2)	—		(20,954)		—
Other	(1,923)		32		(117)
Total provision (benefit) for income taxes	$	69,859	$	(71,393)	$	15,117

____________________________________________

(1) The Company has substantial operations in Hong Kong, which has a lower statutory income tax rate as compared to the U.S. The Company’s foreign effective tax rate for Fiscal 2021, Fiscal 2020, and Fiscal 2019 was 16.6%, 7.7%, and 13.2%, respectively. This rate fluctuates from year to year in response to changes in the mix of income by country, as well as changes in tax laws in foreign jurisdictions.

(2) The CARES Act permits NOL carryovers and carrybacks to offset 100% of taxable income for taxable years beginning before 2021. The Fiscal 2020 tax loss of approximately $150.0 million was carried back to earlier tax years when the corporate tax rate was 35.0%, compared to the current corporate tax rate of 21.0%, resulting in a tax benefit of $21.0 million.

The assessment of the amount of value assigned to the Company’s deferred tax assets under the applicable accounting rules is judgmental. The Company is required to consider all available positive and negative evidence in evaluating the likelihood that it will be able to realize the benefit of the Company’s deferred tax assets in the future. Such evidence includes scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies, and the results of recent operations. Since this evaluation requires consideration of events that may occur some years into the future, there is an element of judgment involved. Realization of the Company’s deferred tax assets is dependent on generating sufficient taxable income in future periods. The Company believes that it is more likely than not that future taxable income will be sufficient to recover substantially all of the value assigned to the Company’s deferred tax assets. However, if future events cause the Company to conclude that it is not more likely than not that it will be able to recover all of the value assigned to its deferred tax assets, the valuation allowance would be adjusted accordingly.

The tax effects of temporary differences which give rise to deferred tax assets and liabilities were as follows:


	January 29, 2022		January 30, 2021
	(in thousands)









Operating lease liabilities	$	59,283	$	86,241
Right-of-use assets	(51,617)		(75,159)
Stock-based compensation	2,863		843
Reserves	12,475		16,302
Inventory	4,570		1,880
Property and equipment, net	(6,296)		(7,406)
Capitalized research and development, net	3,569		2,984
Tradenames and customer databases, net	(2,200)		(1,617)
Prepaid expenses	(1,481)		(817)
Foreign and state tax on unremitted earnings	(1,554)		(1,554)

Net operating loss carryforward	2,900		11,240
Tax credits	1,746		10,581
Charitable contributions	—		2,977
Valuation allowance	(1,149)		(916)
Total deferred tax asset, net	$	23,109	$	45,579

The Company has state NOL carryforwards of $41.4 million which expire within four and nineteen years, foreign NOL carryforwards of $0.7 million which does not expire and $1.2 million which expires in five years. The Company also has an Alternative Minimum Tax credit (“AMT”) in Puerto Rico of $0.6 million.

The Company has concluded that it is more likely than not that certain deferred tax assets cannot be used in the foreseeable future, principally the foreign net operating loss carryforwards and the AMT credit in Puerto Rico. Accordingly, a valuation allowance has been established for these tax benefits. However, to the extent these tax benefits are realized in the future, the reduction of the valuation allowance will reduce income tax expense accordingly.

On December 22, 2017, the U.S. government passed the Tax Cuts and Jobs Act (the “Tax Act”), which resulted in complex changes to the U.S. tax code including, but not limited to, the reduction of the corporate tax rate from 35% to 21% and a move from a global tax regime to a modified territorial regime which required U.S. companies to pay a mandatory one-time transition tax on historical offshore earnings that had not been repatriated to the U.S. The remaining unpaid transition tax, which begins to be repaid in 2024, amounted to $14.9 million at January 29, 2022, and is shown as Long-term income taxes payable on the Consolidated Balance Sheets.

While the Company is no longer permanently reinvested to the extent earnings were subject to the transition tax under the Tax Act, no additional income taxes have been provided on any earnings subsequent to the transition tax or for any additional outside basis differences inherent in the Company’s foreign subsidiaries, as these amounts continue to be

permanently reinvested in foreign operations. Determining the amount of the unrecognized deferred tax liability related to any additional outside basis differences in the Company’s foreign subsidiaries (i.e., basis differences in excess of that subject to the one-time transition tax) is not practicable. The unremitted foreign earnings earned subsequent to the transition tax, which are permanently reinvested, were $178.4 million as of January 29, 2022.

Uncertain Tax Benefits

Tax positions are evaluated in a two-step process. First, the Company determines whether it is more-likely-than-not that a tax position will be sustained upon examination. Second, if a tax position meets the more-likely-than-not recognition threshold, it is measured to determine the amount of benefit to recognize in the financial statements. The tax position is measured as the largest amount of benefit that is greater than 50% likely to be realized upon ultimate settlement.

A reconciliation of the gross amounts of unrecognized tax benefits, excluding accrued interest and penalties, is as follows:


	Fiscal Years Ended
	January 29, 2022		January 30, 2021
	(in thousands)
Beginning Balance	$	8,060	$	6,655
Additions for current year tax positions	1,155		1,256
Additions for prior year tax positions	67		120
Reductions for prior year tax positions	(317)		—


Impact of foreign currency translation	(28)		29
Ending Balance	$	8,937	$	8,060

Unrecognized tax benefits of $8.7 million, excluding accrued interest and penalties, at January 29, 2022 would affect the Company’s effective tax rate in future periods, if recognized. The Company expects to reverse reserves for unrecognized tax benefits of approximately $6.7 million in the next 12 months as a result of settlements with taxing authorities or the expiration of statutes of limitations.

The Company accrues interest and penalties related to unrecognized tax benefits as part of the provision for income taxes. At January 29, 2022 and January 30, 2021, accrued interest and penalties of $0.5 million and $0.2 million, respectively, were included in unrecognized tax benefits. Interest, penalties, and reversals thereof, net of taxes, amounted to expense of $0.3 million in Fiscal 2021 and $0.1 million in Fiscal 2020.

The Company is subject to tax in the U.S. and foreign jurisdictions, including Canada and Hong Kong. The Company files a consolidated U.S. income tax return for federal income tax purposes. The Company is no longer subject to income tax examinations by U.S. federal, state and local or foreign tax authorities for tax years 2016 and prior, with the exception of Hong Kong, which is open through tax year 2013 due to an ongoing tax examination.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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+ Details

RETIREMENT AND SAVINGS PLANS	12 Months Ended
RETIREMENT AND SAVINGS PLANS	Jan. 29, 2022
Retirement Benefits [Abstract]
RETIREMENT AND SAVINGS PLANS	RETIREMENT AND SAVINGS PLANS 401(k) Plan The Company has adopted The Children’s Place 401(k) Savings Plan (the “401(k) Plan”), which qualifies under Section 401(k) of the Internal Revenue Code of 1986, as amended (the “Code”). The 401(k) Plan is a defined contribution plan established to provide retirement benefits for employees. The 401(k) Plan is employee funded up to an elective annual deferral amount and also provides for Company matching contributions up to a certain percentage of the employee’s salary. The 401(k) Plan is available for all U.S. employees of the Company. Following guidance in IRS Notice 98-52 related to the design-based alternative, or “safe harbor,” 401(k) plan method, the Company modified its 401(k) Plan for Company match contributions for non-highly compensated associates, as defined in the Code. For non-highly compensated associates, the Company matches the first 3% of the participant’s contributions and 50% of the next 2% of the participant’s contributions, and the Company match contribution vests immediately. For highly compensated associates, the Company has the discretion to match the lesser of 50% of the participant’s contributions or 2.5% of the participant’s covered compensation and the Company match contribution vests over five years. Due to the COVID-19 pandemic, the Company suspended the Company's portion of the 401(k) match on June 1, 2020, which was subsequently reinstated on January 1, 2021. The Company’s matching contributions were $3.5 million in Fiscal 2021, $1.4 million in Fiscal 2020, and $3.5 million in Fiscal 2019. Deferred Compensation Plan The Deferred Compensation Plan liability, excluding Company stock, was $2.2 million at January 29, 2022 and January 30, 2021. The value of the assets held in the rabbi trust was $2.2 million at January 29, 2022 and January 30, 2021. The cost of the Company’s stock repurchased was $3.4 million and $3.2 million at January 29, 2022 and January 30, 2021, respectively. Other Plans Under statutory requirements, the Company contributes to retirement plans for its operations in Canada, Puerto Rico, and Asia. Contributions under these plans were $0.6 million, $0.7 million, and $0.7 million in Fiscal 2021, Fiscal 2020, and Fiscal 2019, respectively.

- Definition

The entire disclosure for retirement benefits.

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+ Details

SEGMENT INFORMATION

12 Months Ended

Jan. 29, 2022

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATIONIn accordance with FASB ASC 280—Segment Reporting, the Company reports segment data based on geography: The Children’s Place U.S. and The Children’s Place International. Each segment includes an e-commerce business located at www.childrensplace.com, www.gymboree.com, and www.sugarandjade.com. Included in The Children’s Place U.S. segment are the Company’s U.S. and Puerto Rico-based stores and revenue from the Company’s U.S.-based wholesale business. Included in The Children’s Place International segment are the Company’s Canadian-based stores, revenue from the Company’s Canadian-based wholesale business, and revenue from international franchisees. The Company measures its segment profitability based on operating income, defined as income before interest and taxes. Net sales and direct costs are recorded by each segment. Certain inventory procurement functions, such as production and design, as well as corporate overhead, including executive management, finance, real estate, human resources, legal, and information technology services, are managed by The Children’s Place U.S. segment. Expenses related to these functions, including depreciation and amortization, are allocated to The Children’s Place International segment based primarily on net sales. The assets related to these functions are not allocated. The Company periodically reviews these allocations and adjusts them based upon changes in business circumstances. Net sales to external customers are derived from merchandise sales, and the Company has no customers that individually account for more than 10% of its net sales. As of January 29, 2022, The Children’s Place U.S. had 589 stores and The Children’s Place International had 83 stores. As of January 30, 2021, The Children’s Place U.S. had 648 stores and The Children’s Place International had 101 stores.

The following tables provide segment level financial information for Fiscal 2021, Fiscal 2020, and Fiscal 2019:


	Fiscal Years Ended
	January 29, 2022		January 30, 2021		February 1, 2020
	(in thousands)
Net sales:
The Children’s Place U.S.	$	1,723,887	$	1,372,079	$	1,671,165
The Children’s Place International (1)	191,477		150,519		199,502
Total net sales	$	1,915,364	$	1,522,598	$	1,870,667








Operating income (loss):
The Children’s Place U.S.	$	253,419	$	(196,565)	$	77,989
The Children’s Place International	22,229		(3,350)		18,369
Total operating income (loss)	$	275,648	$	(199,915)	$	96,358


Operating income (loss) as a percentage of net sales:
The Children’s Place U.S.	14.7		%	(14.3)		%	4.7		%
The Children’s Place International	11.6		%	(2.2)		%	9.2		%
Total operating income (loss) as a percentage of net sales	14.4		%	(13.1)		%	5.2		%
Depreciation and amortization:
The Children’s Place U.S.	$	53,984		$	61,074		$	67,416
The Children’s Place International	4,433			5,331			7,372
Total depreciation and amortization	$	58,417		$	66,405		$	74,788
Capital expenditures:
The Children’s Place U.S.	$	28,551		$	29,955		$	56,598
The Children’s Place International	756			630			904
Total capital expenditures	$	29,307		$	30,585		$	57,502

____________________________________________

(1)Net sales from The Children’s Place International are primarily derived from Canadian operations. The Company’s foreign subsidiaries, primarily in Canada, have operating results based in foreign currencies and are thus subject to the fluctuations of the corresponding translation rates into U.S. dollars.


	January 29, 2022		January 30, 2021
	(in thousands)
Total assets:
The Children’s Place U.S.	$	951,401	$	1,054,339
The Children’s Place International	86,059		85,788
Total assets	$	1,037,460	$	1,140,127

Geographic Information

The Company’s long-lived assets were located in the following countries:


	January 29, 2022		January 30, 2021
	(in thousands)
Long-lived assets (1):
United States	$	415,548	$	521,304
Canada	16,868		25,355
Asia	397		806
Total long-lived assets	$	432,813	$	547,465

____________________________________________

(1)The Company’s long-lived assets are comprised of net Property and equipment, ROU assets, Tradenames, and Other assets.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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+ Details

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Jan. 29, 2022
Accounting Policies [Abstract]
Fiscal Year	Fiscal Year The Company’s fiscal year is a 52-week or 53-week period ending on the Saturday on or nearest to January 31. Fiscal 2021, 2020, and 2019 were 52-week years.
Basis of Presentation	Basis of Presentation The consolidated financial statements and accompanying notes to consolidated financial statements are prepared in accordance with U.S. GAAP and include the accounts of the Company and its wholly owned subsidiaries. Intercompany balances and transactions have been eliminated. As of January 29, 2022 and January 30, 2021, the Company did not have any investments in unconsolidated affiliates. FASB ASC 810—Consolidation is considered when determining whether an entity is subject to consolidation. Certain reclassifications have been made to prior period financial statements to conform to the current period presentation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and amounts of revenues and expenses reported during the period. Actual results could differ from the assumptions used and estimates made by management, which could have a material impact on the Company’s financial position or results of operations. Critical accounting estimates inherent in the preparation of the consolidated financial statements include impairment of long-lived assets, income taxes, stock-based compensation, and inventory valuation.
Cash and Cash Equivalents	Cash and Cash EquivalentsThe Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents.
Accounts Receivable	Accounts ReceivableAccounts receivable consists of credit and debit card receivables, franchisee and wholesale receivables, and other miscellaneous items. Credit and debit card receivables represent credit and debit card sales, inclusive of private label credit card sales, for which the respective third-party service company has yet to remit the cash. The unremitted balance approximates the last few days of related credit and debit card sales for each reporting period. Franchisee and wholesale receivables represent product sales and sales royalties in which cash has not yet been remitted by our partners. Bad debt associated with all sales has not been material.
Inventories	Inventories Inventories, which consist primarily of finished goods, are stated at the lower of cost or net realizable value, with cost determined on an average cost basis. The Company capitalizes certain buying, design, and supply chain costs in inventory, and these costs are reflected within Cost of sales as the inventories are sold. Inventory shrinkage is estimated in interim periods based upon the historical results of physical inventory counts in the context of current year facts and circumstances.
Derivative Instruments	Derivative Instruments The Company is exposed to gains and losses resulting from fluctuations in foreign currency exchange rates attributable to inventory purchases denominated in a foreign currency. Specifically, the functional currency of the Company’s Canadian subsidiary is the Canadian dollar, but it purchases inventory from suppliers in U.S. dollars. In order to mitigate the variability of cash flows associated with certain of these forecasted inventory purchases, the Company enters, from time to time, into foreign exchange forward contracts. These contracts typically mature within 12 months. The Company does not use forward contracts to engage in currency speculation, and it does not enter into derivative financial instruments for trading purposes. The Company accounts for all of its derivatives and hedging activity under FASB ASC 815—Derivatives and Hedging. Under the Company’s risk management policy and in accordance with guidance under the topic, in order to qualify for hedge accounting treatment, a derivative must be considered highly effective at offsetting changes in either the hedged item’s cash flows or fair value. Additionally, the hedge relationship must be documented to include the risk management objective and strategy, the hedging instrument, the hedged item, the risk exposure, and how hedge effectiveness will be assessed prospectively and retrospectively. The Company formally measures effectiveness of its hedging relationships both at the hedge inception and on an ongoing basis. The Company discontinues hedge accounting under a foreign exchange forward contract prospectively: (i) if management determines that the derivative is no longer highly effective in offsetting changes in the cash flows of a hedged item, (ii) when the derivative expires or is terminated, (iii) if the forecasted transaction being hedged by the derivative is no longer probable of occurring, or (iv) if management determines that designation of the derivative as a hedge instrument is no longer appropriate. All derivative instruments are presented at gross fair value on the Consolidated Balance Sheets within either Prepaid expenses and other current assets or Accrued expenses and other current liabilities. As of January 29, 2022 and January 30, 2021, the Company did not have any open foreign exchange forward contracts. For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income (“OCI”) and reclassified into earnings within Cost of sales (exclusive of depreciation and amortization) in the same period or periods during which the hedged transaction affects earnings. Gains and losses on the derivative representing hedge ineffectiveness are recognized in earnings within Selling, general, and administrative expenses, consistent with where the Company records realized and unrealized foreign currency gains and losses on transactions denominated in foreign currencies. There were no losses related to hedge ineffectiveness during Fiscal 2021 or Fiscal 2020. Changes in fair value associated with derivatives that are not designated and qualify as cash flow hedges are recognized in earnings within Selling, general, and administrative expenses. During Fiscal 2021, there were no derivatives that qualified as cash flow hedges.
Deferred Financing Costs	Deferred Financing CostsThe Company capitalizes costs directly associated with acquiring third-party financing. Deferred financing costs for the asset-based revolving credit facility are included in Other assets and are amortized as Interest expense over the term of the related indebtedness.
Property, Plant and Equipment, Net	Property and Equipment, Net Property and equipment are stated at cost. Leasehold improvements are depreciated on a straight-line basis over the shorter of the life of the lease or the estimated useful life of the asset. All other property and equipment is depreciated on a straight-line basis based upon estimated useful lives, with furniture and fixtures and equipment generally ranging from 3 to 10 years and buildings and improvements generally ranging from 20 to 25 years. Repairs and maintenance are expensed as incurred. The Company accounts for internally developed software intended for internal use in accordance with provisions of FASB ASC 350—Intangibles-Goodwill and Other. The Company capitalizes development-stage costs such as direct external costs and direct payroll related costs. When development is substantially complete and the software is ready for its intended use, the Company amortizes the cost of the software on a straight-line basis over the expected life of the software, which is generally 3 to 10 years. Preliminary project costs and post-implementation costs such as training, maintenance, and support are expensed as incurred.
Intangible Assets	Intangible Assets The Company’s intangible assets include both indefinite-lived and finite-lived assets. Intangible assets with indefinite lives consist primarily of trademarks and acquired trade names, which are tested for impairment annually at the end of December or whenever circumstances indicate that a decline in value may have occurred. The Company estimates the fair value of these intangible assets based on an income approach using the relief-from-royalty method. The Company’s finite-lived intangible assets consist primarily of customer lists and other acquisition-related assets. Finite-lived intangible assets are amortized over their estimated useful economic lives and are reviewed for impairment when factors indicate that an impairment may have occurred. The Company recognizes an impairment charge when the estimated fair value of the intangible asset is less than the carrying value.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company periodically reviews its long-lived assets for impairment when events indicate that their carrying value may not be recoverable. Such events include historical trends or projected trends of cash flow losses or a future expectation that the Company will sell or dispose of an asset significantly before the end of its previously estimated useful life. In reviewing for impairment, the Company groups its long-lived assets at the lowest possible level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. The Company reviews all stores that have reached comparable sales status for impairment on at least an annual basis, or sooner if circumstances so dictate. The Company believes waiting this period of time allows a store to reach a maturity level where a more comprehensive analysis of financial performance can be performed. For each store that shows indications of impairment, the Company performs a recoverability test comparing estimated undiscounted future cash flows to the carrying value of the related long-lived assets. If the undiscounted cash flows are less than the related net book value of the long-lived assets, they are written down to their fair market value. The Company primarily uses discounted future cash flows directly associated with those assets, which consist principally of property and equipment and right-of-use assets, to determine their fair market values. In evaluating future cash flows, the Company considers external and internal factors. External factors comprise the local environment in which the store resides, including mall traffic, competition, and their effect on sales trends, as well as macroeconomic factors, such as the global COVID-19 pandemic. Internal factors include the Company’s ability to gauge the fashion taste of its customers, control variable costs such as cost of sales and payroll, and in certain cases, its ability to renegotiate lease costs.
Insurance and Self-Insurance Reserves	Insurance and Self-Insurance Reserves The Company self-insures and purchases insurance policies to provide for workers’ compensation, general liability and property losses, cyber-security coverage, as well as director and officers’ liability, vehicle liability, and employee medical benefits. The Company estimates risks and records a liability based on historical claim experience, insurance deductibles, severity factors, and other actuarial assumptions. The Company records the current portions of employee medical benefits, workers compensation, and general liability reserves within Accrued expenses and other current liabilities.
Leases	Leases The Company has operating leases for retail stores, corporate offices, distribution facilities, and certain equipment. The Company’s leases have remaining lease terms ranging from less than one year up to nine years, some of which include options to extend the leases for up to five years, and some of which include options to terminate the lease early. The lease liability is initially and subsequently measured at the present value of the unpaid lease payments at the lease commencement date. For operating leases, the right-of-use (“ROU”) asset is initially and subsequently measured throughout the lease term at the carrying amount of the lease liability, plus initial direct costs, less any accrued lease payments and unamortized lease incentives. For finance leases, the ROU asset is initially measured at cost and subsequently amortized using the straight-line method generally from the lease commencement date to the earlier of the end of its useful life or the end of the lease term. The discount rate is the rate implicit in the lease, unless that rate cannot be readily determined. In that case, the Company is required to use its incremental borrowing rate. The discount rate for a lease is determined based on the information available at lease commencement. The Company accounts for the underlying leased asset and applies a discount rate at the lease level. However, there are certain non-real estate leases for which the Company utilizes the portfolio method by aggregating similar leased assets based on the underlying lease term. The Company has made an accounting policy election by class of underlying asset to not apply the recognition requirements of FASB ASC 842—Leases (“Topic 842”) to leases with an initial term of 12 months or less. Leases with an initial lease term of 12 months or less are not recorded on the balance sheet. The Company recognizes lease expense for these leases on a straight-line basis over the lease term. The Company has lease agreements with lease and non-lease components. The Company has elected a policy to account for lease and non-lease components as a single component for all asset classes. In certain leases, the Company has the right to exercise lease renewal options. Renewal option periods are included in the measurement of lease liability and related right-of-use asset where the exercise is reasonably certain to occur. As of the periods presented, the Company’s finance leases were not material to the Consolidated Balance Sheets, Consolidated Statements of Operations, or Consolidated Statements of Cash Flows. The Company has certain lease agreements structured with both fixed base rent and contingent rent based on a percentage of sales over contractual levels, others with only contingent rent based on a percentage of sales, and some with a fixed base rent adjusted periodically for inflation or changes in fair market value of the underlying real estate. Contingent rent is recognized as sales occur. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The Company records all occupancy costs in Cost of sales, except costs for administrative office buildings, which are recorded in Selling, general, and administrative expenses. In April 2020, the FASB staff released guidance regarding rent concessions related to the effects of the COVID-19 pandemic to allow for a temporary practical expedient (the “COVID-19 expedient”) to account for rent concessions as though enforceable rights and obligations for those concessions existed in the lease agreements. The election is available for concessions related to the effects of the COVID-19 pandemic that result in the total payments required by the modified contract being substantially the same as or less than total payments required by the original contract. Upon the temporary closure of the Company’s store fleet in March 2020, the Company began negotiating for concessions of certain rent payments for the time the stores were impacted. These discussions and negotiations were substantially completed at the end of the second quarter of Fiscal 2021. For the lease concessions that have been agreed upon and executed, the Company did not reassess each existing contract to determine whether enforceable rights and obligations for concessions existed and elected not to apply the lease modification guidance in ASC 842 to those contracts that shared similar characteristics. Rather, the Company accounts for COVID-19 lease concessions as reductions to variable lease cost.
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) primarily consists of cumulative translation adjustments as well as changes in the value of cash flow hedges, net of income taxes.
Treasury Stock	Treasury Stock Treasury stock is recorded at acquisition cost. Gains and losses on disposition are recorded as increases or decreases to Additional paid-in capital with losses in excess of previously recorded gains charged directly to Retained earnings. When treasury shares are retired and returned to authorized but unissued status, the carrying value in excess of par is allocated to Additional paid-in capital and Retained earnings on a pro rata basis.
Income Taxes	Income Taxes The Company utilizes the liability method of accounting for income taxes as set forth in FASB ASC 740—Income Taxes. Under the liability method, deferred taxes are determined based on the temporary differences between the financial statement and tax basis of assets and liabilities, as well as for net operating losses and tax credit carryforwards. Deferred tax assets and liabilities are measured using currently enacted tax rates applied to taxable income in effect for the years in which the basis differences and tax assets are expected to be realized. A valuation allowance is recorded when it is more likely than not that any of the deferred tax assets will not be realized. In determining the need for valuation allowances, the Company considers projected future taxable income, the availability of tax planning strategies, taxable income in prior carryback years, and future reversals of existing taxable temporary differences. If, in the future, the Company determines that it would not be able to realize recorded deferred tax assets, an increase in the valuation allowance would decrease earnings in the period in which such determination is made. The Company assesses income tax positions and records tax benefits for all years subject to examination based upon the Company’s evaluation of the facts, circumstances, and information available at the reporting date. For those tax positions where it is more likely than not that a tax benefit will be sustained, the Company has recorded the largest amount of tax benefit with a greater than 50% likelihood of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where it is not more likely than not that a tax benefit will be sustained, no tax benefit has been recognized in the consolidated financial statements.
Deferred Compensation Plan	Deferred Compensation Plan The Company has a deferred compensation plan (the “Deferred Compensation Plan”), which is a nonqualified, unfunded plan, for eligible senior level employees. Under the Deferred Compensation Plan, a participant may elect to defer up to 80% of his or her base salary and/or up to 100% of his or her bonus to be earned for the year following the year in which the deferral election is made. The Deferred Compensation Plan also permits members of the Board of Directors to elect to defer payment of all or a portion of their retainer and other fees to be earned for the year following the year in which a deferral election is made. In addition, eligible employees and directors of the Company may elect to defer payment of any shares of Company stock that are earned with respect to deferred stock awards. Directors may elect to have all or a portion of their fees earned for their service on the Board invested in shares of the Company’s common stock. The Company is not required to contribute to the Deferred Compensation Plan, but at its sole discretion, can make additional contributions on behalf of the participants. Deferred amounts are not subject to forfeiture and are deemed invested among investment funds offered under the Deferred Compensation Plan, as directed by each participant. Payments of deferred amounts (as adjusted for earnings and losses) are payable following separation from service or at a date or dates elected by the participant at the time the deferral is elected. Payments of deferred amounts are generally made in either a lump sum or in annual installments over a period not exceeding 15 years. During fiscal 2010, the Deferred Compensation Plan was amended to allow for cash deferrals made by members of the Board of Directors to be invested in shares of the Company’s common stock. Such elections are irrevocable and will be settled in shares of common stock. All deferred amounts are payable in the form in which they were made, except for Board of Directors fees invested in shares of the Company’s common stock, which are settled in shares of Company common stock. Earlier distributions are not permitted, except in the case of an unforeseen hardship. The Company has established a rabbi trust that serves as an investment to shadow the Deferred Compensation Plan liability. The assets of the rabbi trust are general assets of the Company and, as such, would be subject to the claims of creditors in the event of bankruptcy or insolvency. Investments of the rabbi trust consist of mutual funds and Company common stock. The Deferred Compensation Plan liability, excluding Company common stock, is included within Other long-term liabilities, and changes in the balance, except those relating to payments, are recognized as compensation expense within Selling, general, and administrative expenses. The value of the mutual funds in the rabbi trust is included in Other assets and related earnings and losses are recognized as investment income or loss, within Selling, general, and administrative expenses. Company stock deferrals are included within the equity section of the Company’s Consolidated Balance Sheets as Treasury stock and as Deferred compensation. Deferred stock is recorded at fair market value at the time of deferral, and any subsequent changes in fair market value are not recognized.
Legal Contingencies	Legal Contingencies The Company reserves for the outcome of litigation and contingencies when it determines an adverse outcome is probable and can estimate losses. Estimates are adjusted as facts and circumstances require. The Company expenses the costs to resolve litigation as incurred, net of amounts, if any, recovered through insurance coverage.
Foreign Currency Translation and Transactions	Foreign Currency Translation and TransactionsThe Company has determined that the local currencies of its Canadian and Asian subsidiaries are their functional currencies. In accordance with FASB ASC 830—Foreign Currency Matters, the assets and liabilities denominated in foreign currencies are translated into U.S. dollars at the current rates of exchange existing at period-end, and revenues and expenses are translated at average monthly exchange rates. Related translation adjustments are reported as a separate component of stockholders’ equity. The Company also transacts certain business in foreign denominated currencies primarily with its Canadian subsidiary purchasing inventory in U.S. dollars, and there are inter-company charges between various subsidiaries.
Fair Value Measurement and Financial Instruments	Fair Value Measurement and Financial Instruments FASB ASC 820—Fair Value Measurement provides a single definition of fair value, together with a framework for measuring it, and requires additional disclosure about the use of fair value to measure assets and liabilities. This topic defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date and establishes a three-level hierarchy, which encourages an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of the hierarchy are defined as follows: •Level 1 - inputs to the valuation techniques that are quoted prices in active markets for identical assets or liabilities •Level 2 - inputs to the valuation techniques that are other than quoted prices, but are observable for the assets or liabilities, either directly or indirectly •Level 3 - inputs to the valuation techniques that are unobservable for the assets or liabilities The Company’s cash and cash equivalents, accounts receivable, investments in the rabbi trust, accounts payable, and revolving loan are all short-term in nature. As such, their carrying amounts approximate fair value and fall within Level 1 of the fair value hierarchy. The Company stock included in the Deferred Compensation Plan is not subject to fair value measurement. The Company’s derivative assets and liabilities include foreign exchange forward contracts that are measured at fair value using observable market inputs such as forward rates, the Company’s credit risk, and counterparties’ credit risks. Based on these inputs, the Company’s derivative assets and liabilities are classified within Level 2 of the fair value hierarchy. The Company’s assets measured at fair value on a nonrecurring basis include long-lived assets, such as intangible assets, fixed assets, and ROU assets. The Company reviews the carrying amounts of such assets when events indicate that their carrying amounts may not be recoverable. Any resulting asset impairment would require that the asset be recorded at its fair value. The resulting fair value measurements of the assets are considered to fall within Level 3 of the fair value hierarchy.
Revenues	Revenues Revenues are recognized when control of the promised goods or services is transferred to the Company’s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The Company recognizes revenue, including shipping and handling fees billed to customers, upon purchase at the Company’s retail stores or when received by the customer if the product was purchased via e-commerce, net of coupon redemptions and anticipated sales returns. The Company deferred sales of $3.6 million and $5.3 million within Accrued expenses and other current liabilities as of January 29, 2022 and January 30, 2021, respectively, based upon estimated time of delivery, at which point control passes to the customer. Sales tax collected from customers is excluded from revenue. For the sale of goods with a right of return, the Company recognizes revenue for the consideration it expects to be entitled to and calculates an allowance for estimated sales returns based upon the Company’s sales return experience. Adjustments to the allowance for estimated sales returns in subsequent periods have not been material based on historical data, thereby reducing the uncertainty inherent in such estimates. The allowance for estimated sales returns, which is recorded in Accrued expenses and other current liabilities, was $1.0 million as of January 29, 2022 and January 30, 2021. The Company’s private label credit card is issued to customers for use exclusively at The Children’s Place stores and online at www.childrensplace.com, www.gymboree.com, and www.sugarandjade.com, and credit is extended to such customers by a third-party financial institution on a non-recourse basis to the Company. The private label credit card includes multiple performance obligations for the Company, including marketing, promoting the program on behalf of the bank and the operation of a loyalty rewards program. Included in the agreement with the third-party financial institution was an upfront bonus paid to the Company. The upfront bonus is recognized as revenue and allocated between brand and reward obligations. As the license of the Company’s brand is the predominant item in the performance obligation, the amount allocated to the brand obligation is recognized on a straight-line basis over the initial term. The amount allocated to the reward obligation is recognized on a point-in-time basis as redemptions under the loyalty program occur. In measuring revenue and determining the consideration the Company is entitled to as part of a contract with a customer, the Company takes into account the related elements of variable consideration, such as additional bonuses, including profit-sharing, over the life of the program. Similar to the upfront bonus, the usage-based royalties and bonuses are recognized as revenue and allocated between the brand and reward obligations. The amount allocated to the brand obligation is recognized on a straight-line basis over the initial term. The amount allocated to the reward obligation is recognized on a point-in-time basis as redemptions under the loyalty program occur. In addition, the annual profit-sharing amount is estimated and recognized quarterly within an annual period when earned. The additional bonuses are amortized over the contract term based on anticipated progress against future targets and level of risk associated with achieving the targets. The Company has a points-based customer loyalty program in which customers earn points based on purchases and other promotional activities. These points can be redeemed for coupons to discount future purchases. A contract liability is estimated based on the standalone selling price of benefits earned by customers through the program and the related redemption experience under the program. The value of each point earned is recorded as deferred revenue and is included within Accrued expenses and other current liabilities. The total contract liabilities related to this program were $5.0 million and $2.7 million as of January 29, 2022 and January 30, 2021, respectively. The Company’s policy with respect to gift cards is to record revenue as and when the gift cards are redeemed for merchandise. The Company recognizes gift card breakage income in proportion to the pattern of rights exercised by the customer when the Company expects to be entitled to breakage and the Company determines that it does not have a legal obligation to remit the value of the unredeemed gift card to the relevant jurisdiction as unclaimed or abandoned property. Gift card breakage is recorded within Net sales. Prior to their redemption, gift cards are recorded as a liability within Accrued expenses and other current liabilities. The liability is estimated based on expected breakage that considers historical patterns of redemption. The Company has an international program of territorial agreements with franchisees. The Company generates revenues from the franchisees from the sale of product and, in certain cases, sales royalties. The Company recognizes revenue on the sale of product to franchisees when the franchisee takes ownership of the product. The Company records net sales for royalties when the applicable franchisee sells the product to customers. Under certain agreements, the Company receives a fee from each franchisee for exclusive territorial rights and based on the opening of new stores. The Company records these territorial fees as deferred revenue and amortizes the fee into Net sales over the life of the territorial agreement.
Cost of Sales (exclusive of depreciation and amortization)	Cost of Sales (exclusive of depreciation and amortization) In addition to the cost of inventory sold, the Company includes certain buying, design, and distribution expenses, shipping and handling costs on merchandise sold directly to customers, and letter of credit fees in Cost of sales. The Company records all occupancy costs in Cost of sales, except for administrative office buildings, which are recorded in Selling, general, and administrative expenses. All depreciation is reported on a separate line in the Company’s Consolidated Statements of Operations.
Stock-based Compensation	Stock-based Compensation The Company’s stock-based compensation plans are administered by the Human Capital & Compensation Committee of the Board of Directors. The Human Capital & Compensation Committee is comprised of independent members of the Board of Directors. Effective May 20, 2011, the shareholders approved the 2011 Equity Incentive Plan (the “Equity Plan”). The Equity Plan allows the Human Capital & Compensation Committee to grant multiple forms of stock-based compensation, such as stock options, stock appreciation rights, restricted stock awards, deferred stock awards, and performance stock awards.The Company accounts for stock-based compensation in accordance with the provisions of FASB ASC 718— Compensation—Stock Compensation. These provisions require, among other things: (a) the fair value at grant date of all stock awards be expensed over their respective vesting periods; (b) the amount of cumulative compensation cost recognized at any date must at least be equal to the portion of the grant-date value of the award that is vested at that date; and (c) that compensation expense include a forfeiture estimate for those shares not expected to vest. The fair value of all stock awards is based on the closing price of the Company’s common stock on the grant date. Also, in accordance with these provisions, for those awards with multiple vest dates, the Company recognizes compensation cost on a straight-line basis over the requisite service period for the entire award.
Advertising and Marketing Costs	Advertising and Marketing CostsThe Company expenses the cost of advertising over the period the advertising is run or displayed. Advertising and other marketing costs are recorded in Selling, general, and administrative expenses
Earnings per Common Share	Earnings per Common Share The Company reports its earnings per share in accordance with FASB ASC 260—Earnings Per Share, which requires the presentation of both basic and diluted earnings per share on the Consolidated Statements of Operations. The diluted weighted average common shares include adjustments for the potential effects of outstanding stock options, Deferred Awards, and Performance Awards (as both terms are used in “Note 11. Stock-Based Compensation” to these consolidated financial statements), but only in the periods in which such effect is dilutive under the treasury stock method. Included in basic and diluted weighted average common shares are those shares, due to participants in the Deferred Compensation Plan, which are held in treasury stock. Anti-dilutive stock awards are comprised of unvested deferred, restricted, and performance shares which would have been anti-dilutive in the application of the treasury stock method in accordance with FASB ASC 260—Earnings Per Share.
Recently Issued Accounting Updates	Recently Issued Accounting Updates Adopted in Fiscal 2021 In December 2019, the FASB issued guidance related to the accounting for income taxes. The guidance aims to simplify the accounting for income taxes by removing certain exceptions to the general principles within the previous guidance and by clarifying and amending the previous guidance. The guidance was effective for annual reporting periods, and interim periods within those years, beginning after December 15, 2020. The Company adopted this guidance in the first quarter of Fiscal 2021. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements.

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jan. 29, 2022

Accounting Policies [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

In accordance with this topic, the following table reconciles share amounts utilized to calculate basic and diluted net income per common share:


	Fiscal Years Ended
	January 29, 2022	January 30, 2021	February 1, 2020



	(in thousands)
Basic weighted average common shares	14,597	14,631	15,547
Dilutive effect of stock awards	273	—	106
Diluted weighted average common shares	14,870	14,631	15,653

REVENUES (Tables)

12 Months Ended

Jan. 29, 2022

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table presents the Company’s revenues disaggregated by geography:


	Fiscal Years Ended
	January 29, 2022		January 30, 2021		February 1, 2020
	(in thousands)
Net sales:
South	$	724,375	$	579,348	$	659,519
Northeast	412,785		325,124		429,857
West	277,162		219,686		290,290
Midwest	242,392		197,697		234,621
International and other	258,650		200,743		256,380
Total net sales	$	1,915,364	$	1,522,598	$	1,870,667

Reconciliation of Contract Liability Related to Gift Cards

The following table provides the reconciliation of the contract liability related to gift cards:


	January 29, 2022
	(in thousands)
Balance at January 30, 2021	$	13,634
Gift cards sold	25,085
Gift cards redeemed	(23,617)
Gift card breakage	(3,031)
Balance at January 29, 2022	$	12,071

INTANGIBLE ASSETS (Tables)

12 Months Ended

Jan. 29, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Goodwill

The Company’s intangible assets were as follows:


		January 29, 2022
	Useful Life	Gross Amount		Accumulated Amortization		Net Amount
		(in thousands)
Gymboree tradename (1)	Indefinite	$	69,953	$	—	$	69,953
Crazy 8 tradename (1)	5 years	4,000		(2,261)		1,739
Customer databases (2)	3 years	3,000		(2,827)		173
Total intangibles, net		$	76,953	$	(5,088)	$	71,865


		January 30, 2021
	Useful Life	Gross Amount		Accumulated Amortization		Net Amount
		(in thousands)
Gymboree tradename (1)	Indefinite	$	69,953	$	—	$	69,953
Crazy 8 tradename (1)	5 years	4,000		(1,461)		2,539
Customer databases (2)	3 years	3,000		(1,827)		1,173
Total intangibles, net		$	76,953	$	(3,288)	$	73,665

____________________________________________

(1)Included within Tradenames, net on the Consolidated Balance Sheets.

(2)Included within Other assets on the Consolidated Balance Sheets.

PROPERTY AND EQUIPMENT, NET (Tables)

12 Months Ended

Jan. 29, 2022

Property, Plant and Equipment [Abstract]

Property and equipment

Property and equipment consisted of the following:


	January 29, 2022		January 30, 2021
	(in thousands)
Property and equipment:
Land and land improvements	$	3,403	$	3,403
Building and improvements	36,045		36,133
Material handling equipment	64,989		58,034
Leasehold improvements	197,436		216,989
Store fixtures and equipment	212,613		226,404
Capitalized software	320,716		296,967
Construction in progress	8,170		15,211
	843,372		853,141
Less accumulated depreciation and amortization	(688,366)		(671,340)
Property and equipment, net	$	155,006	$	181,801

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)

12 Months Ended

Jan. 29, 2022

Prepaid Expenses and Other Current Assets [Abstract]

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:


	January 29, 2022		January 30, 2021
	(in thousands)
Prepaid income taxes	$	54,043	$	43,752
Prepaid cloud computing	7,187		3,836
Prepaid maintenance contracts	3,709		2,433

Prepaid property expense	1,678		281



Other	9,458		5,558
Total Prepaid expenses and other current assets	$	76,075	$	55,860

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

12 Months Ended

Jan. 29, 2022

Payables and Accruals [Abstract]

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:


	January 29, 2022		January 30, 2021
	(in thousands)
Accrued salaries and benefits	$	44,494	$	33,817
Accrued property expenses	18,990		5,756
Customer liabilities	11,354		12,904
Accrued capital expenditures	5,277		3,443
Deferred revenue for MyPlace Rewards loyalty program	4,971		2,669
Deferred revenue	4,613		6,306
Accrued freight	4,196		4,811
Sales taxes and other taxes payable	4,147		13,936
Accrued marketing	4,015		3,206

Insurance reserves	3,487		4,113
Accrued store expenses	2,696		3,893
Accrued professional fees	2,114		1,488



Other	20,315		20,162
Total Accrued expenses and other current liabilities	$	130,669	$	116,504

LEASES (Tables)

12 Months Ended

Jan. 29, 2022

Leases [Abstract]

Lease, Cost

The following components of lease expense were recognized in the Company’s Consolidated Statements of Operations:


	Fiscal Years Ended
	January 29, 2022		January 30, 2021		February 1, 2020
	(in thousands)
Fixed operating lease cost	$	113,681	$	128,373	$	149,006
Variable operating lease cost (1)	39,711		44,085		64,228
Total operating lease cost	$	153,392	$	172,458	$	213,234

____________________________________________

Lessee, Operating Lease, Liability, Maturity

As of January 29, 2022, the maturities of operating lease liabilities were as follows:


	January 29, 2022
	(in thousands)
2022	$	98,415
2023	52,337
2024	30,478
2025	18,384
2026	16,066
Thereafter	33,945
Total lease payments	249,625
Less: imputed interest	(23,767)
Present value of operating lease liabilities	$	225,858

DEBT (Tables)

12 Months Ended

Jan. 29, 2022

Debt Disclosure [Abstract]

Schedule of Line of Credit Facilities

The table below presents the components of the Company’s ABL Credit Facility and Previous ABL Credit Facility:


	January 29, 2022		January 30, 2021
	(in millions)
Credit facility maximum	$	350.0	$	360.0
Borrowing base (1)	279.7		282.2

Outstanding borrowings	175.3		169.8

Letters of credit outstanding—standby	7.4		8.2
Utilization of credit facility at end of period	182.7		178.0

Availability (2)	$	97.0	$	104.2

Interest rate at end of period	1.6%		4.2%


	Fiscal Years Ended
	January 29, 2022		January 30, 2021
Average end of day loan balance during the period	$	187.0	$	216.2
Highest end of day loan balance during the period	269.7		275.6
Average interest rate	3.6%		3.8%

____________________________________________

(1)Lower of the credit facility maximum or the total borrowing base collateral.

(2)The sub-limit availability for letters of credit was $42.6 million and $41.8 million at January 29, 2022 and January 30, 2021, respectively.

STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Jan. 29, 2022

Stockholders' Equity Note [Abstract]

Schedule of Shares Repurchases

The following table summarizes the Company’s share repurchases:


	Fiscal Years Ended
	January 29, 2022		January 30, 2021		February 1, 2020
	Shares	Amount	Shares	Amount	Shares	Amount
	(in thousands)
Share repurchases related to:
Share repurchase program	1,025	85,648	294	15,490	1,585	131,393
Shares acquired and held in treasury	4	278	6	209	4	271

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Jan. 29, 2022

Share-based Payment Arrangement [Abstract]

Schedule of Company’s Stock-Based Compensation Expense

The following table summarizes the Company’s stock-based compensation expense:


	Fiscal Years Ended
	January 29, 2022		January 30, 2021		February 1, 2020
	(in thousands)
Deferred Awards	$	13,061	$	14,100	$	18,910
Performance Awards	17,881		216		(2,691)

Total stock-based compensation expense (1)	$	30,942	$	14,316	$	16,219

____________________________________________

Schedule of Unvested Deferred Award Roll Forward

Deferred Awards


	Fiscal Years Ended
	January 29, 2022			January 30, 2021			February 1, 2020
	Number of Shares	Weighted Average Grant Date Fair Value		Number of Shares	Weighted Average Grant Date Fair Value		Number of Shares	Weighted Average Grant Date Fair Value
	(in thousands)			(in thousands)			(in thousands)
Unvested Deferred Awards at beginning of year	550	$	55.43	377	$	97.88	299	$	99.98
Granted	157	76.59		410	41.73		264	102.21
Vested	(229)	63.73		(161)	107.55		(126)	105.24
Forfeited	(11)	92.10		(76)	82.07		(60)	112.09
Unvested Deferred Awards at end of year	467	$	57.60	550	$	55.43	377	$	97.88

Schedule of Unvested Performance Award Roll Forward

Performance Awards


	Fiscal Years Ended
	January 29, 2022			January 30, 2021			February 1, 2020
	Number of Shares(1)	Weighted Average Grant Date Fair Value		Number of Shares(1)	Weighted Average Grant Date Fair Value		Number of Shares(1)	Weighted Average Grant Date Fair Value
	(in thousands)			(in thousands)			(in thousands)
Unvested Performance Awards at beginning of year	350	$	74.37	342	$	99.97	352	$	90.66
Granted	164	75.01		144	52.16		201	98.49
Shares earned in excess of (below) target	(22)	65.34		(101)	118.00		181	75.83
Vested shares, including shares earned in excess of target	(119)	89.44		(4)	107.51		(354)	76.36
Forfeited	(7)	90.22		(31)	107.24		(38)	110.77
Unvested Performance Awards at end of year	366	$	70.01	350	$	74.37	342	$	99.97

____________________________________________

INCOME TAXES (Tables)

12 Months Ended

Jan. 29, 2022

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) Before Taxes, Domestic and Foreign

The components of Income (loss) before provision (benefit) for income taxes were as follows:


	Fiscal Years Ended
	January 29, 2022		January 30, 2021		February 1, 2020
	(in thousands)
Domestic	$	198,173	$	(250,876)	$	36,660
Foreign	58,857		39,118		51,757
Total income (loss) before provision (benefit) for income taxes	$	257,030	$	(211,758)	$	88,417

Schedule of Components of Provision (Benefit) for Income Taxes

The components of the Company’s Provision (benefit) for income taxes consisted of the following:


	Fiscal Years Ended
	January 29, 2022			January 30, 2021			February 1, 2020

	(in thousands)
Current:
Federal	$	29,406		$	(45,072)		$	1,810
State and local	7,389			212			1,186
Foreign	7,218			5,728			6,757
	44,013			(39,132)			9,753
Deferred:
Federal	14,517			(14,274)			4,240
State and local	8,780			(15,968)			1,066
Foreign	2,549			(2,019)			58
	25,846			(32,261)			5,364
Total provision (benefit) for income taxes	$	69,859		$	(71,393)		$	15,117
Effective tax rate	27.2		%	33.7		%	17.1		%

Schedule of Reconciliation of Tax Provision (Benefit)

A reconciliation between the calculated tax provision (benefit) based on the U.S. federal statutory rate of 21.0% and the effective tax rate for Fiscal 2021, Fiscal 2020, and Fiscal 2019 follows:


	Fiscal Years Ended
	January 29, 2022		January 30, 2021		February 1, 2020
	(in thousands)
Calculated income tax provision (benefit) at U.S. federal statutory rate	$	53,976	$	(44,471)	$	18,568
State and local income taxes, net of federal benefit	14,394		(12,447)		1,779
Foreign tax rate differential (1)	(3,598)		(5,791)		(5,019)
Non-deductible expenses	7,301		2,654		1,491
Excess tax detriment (benefit) related to stock compensation	(293)		2,051		(1,914)



Unrecognized tax benefits	1,050		1,150		1,304
Change in valuation allowance	358		(10)		(21)
Global intangible low-taxed income	1,476		7,815		836
Federal tax credits	(2,882)		(1,422)		(1,790)
CARES Act Carryback (2)	—		(20,954)		—
Other	(1,923)		32		(117)
Total provision (benefit) for income taxes	$	69,859	$	(71,393)	$	15,117

____________________________________________

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences which give rise to deferred tax assets and liabilities were as follows:


	January 29, 2022		January 30, 2021
	(in thousands)









Operating lease liabilities	$	59,283	$	86,241
Right-of-use assets	(51,617)		(75,159)
Stock-based compensation	2,863		843
Reserves	12,475		16,302
Inventory	4,570		1,880
Property and equipment, net	(6,296)		(7,406)
Capitalized research and development, net	3,569		2,984
Tradenames and customer databases, net	(2,200)		(1,617)
Prepaid expenses	(1,481)		(817)
Foreign and state tax on unremitted earnings	(1,554)		(1,554)

Net operating loss carryforward	2,900		11,240
Tax credits	1,746		10,581
Charitable contributions	—		2,977
Valuation allowance	(1,149)		(916)
Total deferred tax asset, net	$	23,109	$	45,579

Summary of Positions for which Significant Change in Unrecognized Tax Benefits is Reasonably Possible

A reconciliation of the gross amounts of unrecognized tax benefits, excluding accrued interest and penalties, is as follows:


	Fiscal Years Ended
	January 29, 2022		January 30, 2021
	(in thousands)
Beginning Balance	$	8,060	$	6,655
Additions for current year tax positions	1,155		1,256
Additions for prior year tax positions	67		120
Reductions for prior year tax positions	(317)		—


Impact of foreign currency translation	(28)		29
Ending Balance	$	8,937	$	8,060

SEGMENT INFORMATION (Tables)

12 Months Ended

Jan. 29, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting

The following tables provide segment level financial information for Fiscal 2021, Fiscal 2020, and Fiscal 2019:


	Fiscal Years Ended
	January 29, 2022		January 30, 2021		February 1, 2020
	(in thousands)
Net sales:
The Children’s Place U.S.	$	1,723,887	$	1,372,079	$	1,671,165
The Children’s Place International (1)	191,477		150,519		199,502
Total net sales	$	1,915,364	$	1,522,598	$	1,870,667








Operating income (loss):
The Children’s Place U.S.	$	253,419	$	(196,565)	$	77,989
The Children’s Place International	22,229		(3,350)		18,369
Total operating income (loss)	$	275,648	$	(199,915)	$	96,358


Operating income (loss) as a percentage of net sales:
The Children’s Place U.S.	14.7		%	(14.3)		%	4.7		%
The Children’s Place International	11.6		%	(2.2)		%	9.2		%
Total operating income (loss) as a percentage of net sales	14.4		%	(13.1)		%	5.2		%
Depreciation and amortization:
The Children’s Place U.S.	$	53,984		$	61,074		$	67,416
The Children’s Place International	4,433			5,331			7,372
Total depreciation and amortization	$	58,417		$	66,405		$	74,788
Capital expenditures:
The Children’s Place U.S.	$	28,551		$	29,955		$	56,598
The Children’s Place International	756			630			904
Total capital expenditures	$	29,307		$	30,585		$	57,502

____________________________________________


	January 29, 2022		January 30, 2021
	(in thousands)
Total assets:
The Children’s Place U.S.	$	951,401	$	1,054,339
The Children’s Place International	86,059		85,788
Total assets	$	1,037,460	$	1,140,127

Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country

The Company’s long-lived assets were located in the following countries:


	January 29, 2022		January 30, 2021
	(in thousands)
Long-lived assets (1):
United States	$	415,548	$	521,304
Canada	16,868		25,355
Asia	397		806
Total long-lived assets	$	432,813	$	547,465

____________________________________________

(1)The Company’s long-lived assets are comprised of net Property and equipment, ROU assets, Tradenames, and Other assets.

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) $ in Millions	12 Months Ended
	Jan. 29, 2022 USD ($) segment	Jan. 30, 2021 USD ($)	Feb. 01, 2020 USD ($)
Basis Of Presentation [Line Items]
Number of reportable segments \| segment	2
Unamortized balance of deferred financing costs	$ 2.9	$ 3.6
Option to extend lease	5 years
Maximum percentage of base salary elected to be deferred (as a percent)	80.00%
Maximum percentage of bonus elected to be deferred (as a percent)	100.00%
Annual installments period	15 years
Deferred revenue	$ 3.6	5.3
Contract liabilities	5.0	2.7
Advertising expense	44.3	31.1	$ 35.0
Prepaid marketing	1.4	0.8
Revolving Credit Facility \| ABL Credit Facility \| Line of Credit
Basis Of Presentation [Line Items]
Unamortized balance of deferred financing costs	2.6	1.2
Accrued Expenses and Other Current Liabilities
Basis Of Presentation [Line Items]
Allowance for estimated sales returns	$ 1.0	$ 1.0
Minimum
Basis Of Presentation [Line Items]
Intangible asset, useful life	3 years
Remaining lease term	1 year
Minimum \| Furniture, Fixtures and Equipment
Basis Of Presentation [Line Items]
Estimated useful lives	3 years
Minimum \| Building and improvements
Basis Of Presentation [Line Items]
Estimated useful lives	20 years
Maximum
Basis Of Presentation [Line Items]
Intangible asset, useful life	10 years
Remaining lease term	9 years
Maximum \| Furniture, Fixtures and Equipment
Basis Of Presentation [Line Items]
Estimated useful lives	10 years
Maximum \| Building and improvements
Basis Of Presentation [Line Items]
Estimated useful lives	25 years

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Earnings Per Share, Basic and Diluted (Details) - shares shares in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Accounting Policies [Abstract]
Basic weighted average common shares (in shares)	14,597	14,631	15,547
Dilutive effect of stock awards (in shares)	273	0	106
Diluted weighted average common shares (in shares)	14,870	14,631	15,653

REVENUES - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Disaggregation of Revenue [Line Items]
Net sales	$ 1,915,364	$ 1,522,598	$ 1,870,667
South
Disaggregation of Revenue [Line Items]
Net sales	724,375	579,348	659,519
Northeast
Disaggregation of Revenue [Line Items]
Net sales	412,785	325,124	429,857
West
Disaggregation of Revenue [Line Items]
Net sales	277,162	219,686	290,290
Midwest
Disaggregation of Revenue [Line Items]
Net sales	242,392	197,697	234,621
International and other
Disaggregation of Revenue [Line Items]
Net sales	$ 258,650	$ 200,743	$ 256,380

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Section 50
-Paragraph 32
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

REVENUES - Reconciliation of Contract Liability Related to Gift Cards (Details) $ in Thousands	12 Months Ended
	Jan. 29, 2022 USD ($)
Contract with Customer, Liability [Roll Forward]
Gift card liability, beginning balance	$ 2,700
Gift card liability, ending balance	5,000
Gift Cards
Contract with Customer, Liability [Roll Forward]
Gift card liability, beginning balance	13,634
Gift cards sold	25,085
Gift cards redeemed	(23,617)
Gift card breakage	(3,031)
Gift card liability, ending balance	$ 12,071

INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	12 Months Ended
INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	Jan. 29, 2022	Jan. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (5,088)	$ (3,288)
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Total intangibles, net, Gross amount	76,953	76,953
Total intangibles, net, Accumulated amortization	(5,088)	(3,288)
Tradenames, net	71,865	73,665
Crazy 8 tradename
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 69,953	$ 69,953
Crazy 8 tradename
Finite-Lived Intangible Assets [Line Items]
Useful Life	5 years	5 years
Gross Amount	$ 4,000	$ 4,000
Accumulated Amortization	(2,261)	(1,461)
Net Amount	1,739	2,539
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Total intangibles, net, Accumulated amortization	$ (2,261)	$ (1,461)
Customer databases
Finite-Lived Intangible Assets [Line Items]
Useful Life	3 years	3 years
Gross Amount	$ 3,000	$ 3,000
Accumulated Amortization	(2,827)	(1,827)
Net Amount	173	1,173
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Total intangibles, net, Accumulated amortization	$ (2,827)	$ (1,827)

PROPERTY AND EQUIPMENT, NET - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jan. 29, 2022	Jan. 30, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 843,372	$ 853,141
Less accumulated depreciation and amortization	(688,366)	(671,340)
Property and equipment, net	155,006	181,801
Land and land improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	3,403	3,403
Building and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	36,045	36,133
Material handling equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	64,989	58,034
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	197,436	216,989
Store fixtures and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	212,613	226,404
Capitalized software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	320,716	296,967
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 8,170	$ 15,211

PROPERTY AND EQUIPMENT, NET - Narrative (Details) $ in Thousands	12 Months Ended
	Jan. 29, 2022 USD ($) store	Jan. 30, 2021 USD ($) store	Feb. 01, 2020 USD ($) store
Property, Plant and Equipment [Line Items]
Asset impairment charges	$ 1,506	$ 38,527	$ 6,039
Number of underperforming stores \| store	2	419	29
Number of stores tested for impairment \| store		749	924
Net book value		$ 43,600	$ 65,000
Production related impairments or charges			2,800
Impairment Related to Underperforming Stores
Property, Plant and Equipment [Line Items]
Asset impairment charges			$ 3,200

PREPAID EXPENSES AND OTHER CURRENT ASSETS - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Jan. 29, 2022	Jan. 30, 2021
Prepaid Expenses and Other Current Assets [Abstract]
Prepaid income taxes	$ 54,043	$ 43,752
Prepaid cloud computing	7,187	3,836
Prepaid maintenance contracts	3,709	2,433
Prepaid property expense	1,678	281
Other	9,458	5,558
Total Prepaid expenses and other current assets	$ 76,075	$ 55,860

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jan. 29, 2022	Jan. 30, 2021
Payables and Accruals [Abstract]
Accrued salaries and benefits	$ 44,494	$ 33,817
Accrued property expenses	18,990	5,756
Customer liabilities	11,354	12,904
Accrued capital expenditures	5,277	3,443
Deferred revenue for MyPlace Rewards loyalty program	4,971	2,669
Deferred revenue	4,613	6,306
Accrued freight	4,196	4,811
Sales taxes and other taxes payable	4,147	13,936
Accrued marketing	4,015	3,206
Insurance reserves	3,487	4,113
Accrued store expenses	2,696	3,893
Accrued professional fees	2,114	1,488
Other	20,315	20,162
Total Accrued expenses and other current liabilities	$ 130,669	$ 116,504

LEASES - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
LEASES - Lease Cost (Details) - USD ($) $ in Thousands	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Leases [Abstract]
Fixed operating lease cost	$ 113,681	$ 128,373	$ 149,006
Variable lease cost	39,711	44,085	64,228
Total operating lease cost	153,392	172,458	$ 213,234
Reduction of lease cost, lease abatement	$ 12,100	$ 12,900

LEASES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
LEASES - Narrative (Details) - USD ($) $ in Thousands	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Leases [Abstract]
Operating lease, weighted average remaining lease term	4 years 3 months 18 days
Operating lease, weighted average discount rate	5.20%
Measurement of operating lease liabilities	$ 172,454	$ 69,294	$ 155,288
Right-of-use asset obtained in exchange for operating lease liability	$ 14,000

LEASES - Lease Liability Maturity (Details) $ in Thousands	Jan. 29, 2022 USD ($)
Leases [Abstract]
2022	$ 98,415
2023	52,337
2024	30,478
2025	18,384
2026	16,066
Thereafter	33,945
Total lease payments	249,625
Less: imputed interest	(23,767)
Present value of operating lease liabilities	$ 225,858

DEBT - Narrative (Details) - USD ($)			12 Months Ended
DEBT - Narrative (Details) - USD ($)	Nov. 16, 2021	Oct. 05, 2020	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Line of Credit Facility [Line Items]
Interest expense			$ 18,634,000	$ 11,906,000	$ 8,194,000
Unamortized balance of deferred financing costs			2,900,000	3,600,000
Term Loan \| Secured Debt
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 80,000,000
ABL Credit Facility
Line of Credit Facility [Line Items]
Interest expense	3,700,000
New Term Loan \| Secured Debt
Line of Credit Facility [Line Items]
Debt instrument, face amount	50,000,000
Interest expense, long-term debt			$ 5,900,000
New Term Loan \| Secured Debt \| London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Basis spread on variable rate		2.50%
New Term Loan \| Secured Debt \| Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate			1.75%
Revolving Credit Facility \| Asset-Based Revolving Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	360,000,000
Revolving Credit Facility \| ABL Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 350,000,000
Revolving Credit Facility \| ABL Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Unused line fee percentage			0.20%
Unamortized balance of deferred financing costs			$ 2,600,000	$ 1,200,000
Revolving Credit Facility \| ABL Credit Facility \| Line of Credit \| Minimum \| Prime rate
Line of Credit Facility [Line Items]
Basis spread on variable rate			0.375%
Revolving Credit Facility \| ABL Credit Facility \| Line of Credit \| Minimum \| London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Basis spread on variable rate			1.125%
Revolving Credit Facility \| ABL Credit Facility \| Line of Credit \| Maximum \| Prime rate
Line of Credit Facility [Line Items]
Basis spread on variable rate			0.625%
Revolving Credit Facility \| ABL Credit Facility \| Line of Credit \| Maximum \| London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Basis spread on variable rate			1.375%
Canadian Credit Facility \| ABL Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			$ 25,000,000
Standby And Documentary Letters Of Credit \| ABL Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			$ 50,000,000
Standby And Documentary Letters Of Credit \| ABL Credit Facility \| Line of Credit \| Minimum
Line of Credit Facility [Line Items]
Unused line fee percentage			0.625%
Standby And Documentary Letters Of Credit \| ABL Credit Facility \| Line of Credit \| Maximum
Line of Credit Facility [Line Items]
Unused line fee percentage			0.875%
Commercial Letter Of Credit \| ABL Credit Facility \| Line of Credit \| Minimum
Line of Credit Facility [Line Items]
Unused line fee percentage			0.563%
Commercial Letter Of Credit \| ABL Credit Facility \| Line of Credit \| Maximum
Line of Credit Facility [Line Items]
Unused line fee percentage			0.683%

DEBT - Components (Details) - USD ($) $ in Millions	12 Months Ended
DEBT - Components (Details) - USD ($) $ in Millions	Jan. 29, 2022	Jan. 30, 2021
Line of Credit Facility [Line Items]
Letters of credit outstanding—standby	$ 7.4
Average end of day loan balance during the period	187.0	$ 216.2
Highest end of day loan balance during the period	$ 269.7	$ 275.6
Average interest rate	3.60%	3.80%
ABL Credit Facility and Previous ABL Credit Facility
Line of Credit Facility [Line Items]
Borrowing base	$ 279.7	$ 282.2
Outstanding borrowings	175.3	169.8
Utilization of credit facility at end of period	182.7	178.0
Availability	$ 97.0	$ 104.2
Interest rate at end of period	1.60%	4.20%
Revolving Credit Facility \| ABL Credit Facility and Previous ABL Credit Facility
Line of Credit Facility [Line Items]
Credit facility maximum	$ 350.0	$ 360.0
Standby Letters of Credit \| ABL Credit Facility and Previous ABL Credit Facility
Line of Credit Facility [Line Items]
Letters of credit outstanding—standby	7.4	8.2
Sublimit Letter of Credit \| ABL Credit Facility and Previous ABL Credit Facility
Line of Credit Facility [Line Items]
Availability	$ 42.6	$ 41.8

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	Jan. 29, 2022	Apr. 29, 2017
Other Commitments [Line Items]
Operating lease	$ 249,625
Standby letters of credit commitments	7,400
Loss contingency, estimate of possible loss		$ 5,000
Purchase Commitments Merchandise
Other Commitments [Line Items]
Purchase commitments for the next 12 months	365,000
Purchase Commitments Construction
Other Commitments [Line Items]
Purchase commitments for the next 12 months	$ 18,000

STOCKHOLDERS' EQUITY - Narrative (Details) - USD ($)	12 Months Ended
STOCKHOLDERS' EQUITY - Narrative (Details) - USD ($)	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020	Nov. 30, 2021	Mar. 31, 2018
STOCKHOLDERS' EQUITY
Stock repurchased and retired during period, value	$ 85,648,000	$ 15,490,000	$ 133,605,000
Retained Earnings
STOCKHOLDERS' EQUITY
Stock repurchased and retired during period, value	66,467,000	$ 10,640,000	$ 108,007,000
2018 Share Repurchase Program
STOCKHOLDERS' EQUITY
Stock repurchase program, authorized amount				$ 250,000,000	$ 250,000,000
Stock repurchase program, remaining authorized repurchase amount	$ 257,300,000

STOCKHOLDERS' EQUITY - Share Repurchases (Details) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Stockholders' Equity Note [Abstract]
Share Repurchase Program (in shares)	1,025	294	1,585
Share repurchase program	$ 85,648	$ 15,490	$ 131,393
Shares acquired and held in treasury (in shares)	4	6	4
Shares acquired and held in treasury	$ 278	$ 209	$ 271

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense, tax benefit	$ 2.6	$ 3.8	$ 4.3
Grant (in shares)	596,216,000
Deferred Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Unvested deferred awards	$ 14.4
Weighted average recognized period	1 year 8 months 12 days
Fair value	$ 14.6	5.3	13.5
Deferred Awards \| Non-employee Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Performance Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Target shares earned percentage	100.00%
Unvested deferred awards	$ 13.2
Weighted average recognized period	1 year 9 months 18 days
Fair value	$ 10.6	$ 0.1	$ 33.9
Performance Awards \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target shares earned percentage	0.00%	0.00%	0.00%
Performance Awards \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target shares earned percentage	300.00%	250.00%	250.00%

STOCK-BASED COMPENSATION - Schedule of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Stock-based compensation expense
Total stock-based compensation expense	$ 30,942	$ 14,316	$ 16,219
Cost of Sales
Stock-based compensation expense
Total stock-based compensation expense	3,300	3,400	3,600
Deferred Awards
Stock-based compensation expense
Total stock-based compensation expense	13,061	14,100	18,910
Performance Awards
Stock-based compensation expense
Total stock-based compensation expense	$ 17,881	$ 216	$ (2,691)

STOCK-BASED COMPENSATION - Unvested Awards Roll Forward (Details) - $ / shares shares in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Deferred Awards
Number of Shares
Unvested Awards, beginning of year (in shares)	550	377	299
Granted (in shares)	157	410	264
Vested shares, including shares earned in excess of target (in shares)	(229)	(161)	(126)
Forfeited (in shares)	(11)	(76)	(60)
Unvested Awards, end of year (in shares)	467	550	377
Weighted Average Grant Date Fair Value
Unvested awards at the beginning of the year (in dollars per share)	$ 55.43	$ 97.88	$ 99.98
Granted (in dollars per share)	76.59	41.73	102.21
Vested shares, including shares earned in excess of target (in usd per share)	63.73	107.55	105.24
Forfeited (in usd per share)	92.10	82.07	112.09
Unvested Deferred Awards, end of year (in usd per share)	$ 57.60	$ 55.43	$ 97.88
Performance Awards
Number of Shares
Unvested Awards, beginning of year (in shares)	350	342	352
Granted (in shares)	164	144	201
Shares earned in excess of (below) target (in shares)	(22)	(101)	181
Vested shares, including shares earned in excess of target (in shares)	(119)	(4)	(354)
Forfeited (in shares)	(7)	(31)	(38)
Unvested Awards, end of year (in shares)	366	350	342
Weighted Average Grant Date Fair Value
Unvested awards at the beginning of the year (in dollars per share)	$ 74.37	$ 99.97	$ 90.66
Granted (in dollars per share)	75.01	52.16	98.49
Shares earned in excess of (below) target (in usd per share)	65.34	118.00	75.83
Vested shares, including shares earned in excess of target (in usd per share)	89.44	107.51	76.36
Forfeited (in usd per share)	90.22	107.24	110.77
Unvested Deferred Awards, end of year (in usd per share)	$ 70.01	$ 74.37	$ 99.97
Target shares earned percentage	100.00%

INCOME TAXES - Components of Income (Loss) Before Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Income Tax Disclosure [Abstract]
Domestic	$ 198,173	$ (250,876)	$ 36,660
Foreign	58,857	39,118	51,757
Income (loss) before provision (benefit) for income taxes	$ 257,030	$ (211,758)	$ 88,417

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123384075&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

INCOME TAXES - Provision For Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Current:
Federal	$ 29,406	$ (45,072)	$ 1,810
State and local	7,389	212	1,186
Foreign	7,218	5,728	6,757
Total current income taxes	44,013	(39,132)	9,753
Deferred:
Federal	14,517	(14,274)	4,240
State and local	8,780	(15,968)	1,066
Foreign	2,549	(2,019)	58
Total deferred income taxes	25,846	(32,660)	5,364
Total provision (benefit) for income taxes	$ 69,859	$ (71,393)	$ 15,117
Effective tax rate	27.20%	33.70%	17.10%

INCOME TAXES - Schedule of Reconciliation of Tax Provision (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Income Tax Disclosure [Abstract]
Calculated income tax provision (benefit) at U.S. federal statutory rate	$ 53,976	$ (44,471)	$ 18,568
State and local income taxes, net of federal benefit	14,394	(12,447)	1,779
Foreign tax rate differential	(3,598)	(5,791)	(5,019)
Non-deductible expenses	7,301	2,654	1,491
Excess tax detriment (benefit) related to stock compensation	(293)	2,051	(1,914)
Unrecognized tax benefits	1,050	1,150	1,304
Change in valuation allowance	358	(10)	(21)
Global intangible low-taxed income	1,476	7,815	836
Federal tax credits	(2,882)	(1,422)	(1,790)
CARES Act Carryback	0	(20,954)	0
Other	(1,923)	32	(117)
Total provision (benefit) for income taxes	$ 69,859	$ (71,393)	$ 15,117
Foreign effective tax rates	16.60%	7.70%	13.20%
Carryovers and carrybacks to offset	100.00%
Estimated tax loss		$ 150,000	$ 21,000

INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Jan. 29, 2022	Jan. 30, 2021
Income Tax Disclosure [Abstract]
Operating lease liabilities	$ 59,283	$ 86,241
Right-of-use assets	(51,617)	(75,159)
Stock-based compensation	2,863	843
Reserves	12,475	16,302
Inventory	4,570	1,880
Property and equipment, net	(6,296)	(7,406)
Capitalized research and development, net	3,569	2,984
Tradenames and customer databases, net	(2,200)	(1,617)
Prepaid expenses	(1,481)	(817)
Foreign and state tax on unremitted earnings	(1,554)	(1,554)
Net operating loss carryforward	2,900	11,240
Tax credits	1,746	10,581
Charitable contributions	0	2,977
Valuation allowance	(1,149)	(916)
Total deferred tax asset, net	$ 23,109	$ 45,579

INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Operating Loss Carryforwards [Line Items]
Estimated tax loss		$ 150.0	$ 21.0
Transition tax payable amount	$ 14.9
Unremitted foreign earnings	178.4
Unrecognized tax benefits	8.7
Significant change in unrecognized tax benefits is reasonably possible, next 12 months	6.7
Accrued interest and penalties	0.2	0.5
Interest, penalties, and reversals thereof, net of taxes amount	0.3	$ 0.1
Alternative Minimum Tax Credit
Operating Loss Carryforwards [Line Items]
Tax credit carryforward, amount	0.6
Prepaid Expenses and Other Current Assets
Operating Loss Carryforwards [Line Items]
Income taxes receivable	41.1
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 41.4
State and Local Jurisdiction \| Minimum
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards, expiration period	4 years
State and Local Jurisdiction \| Maximum
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards, expiration period	19 years
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 1.2
Operating loss carryforwards, expiration period	5 years
Operating loss carryforwards not subject to expiration	$ 0.7

INCOME TAXES - Unrecognized Tax Benefits, Excluding Accrued Interest and Penalties (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning Balance	$ 8,060	$ 6,655
Additions for current year tax positions	1,155	1,256
Additions for prior year tax positions	67	120
Reductions for prior year tax positions	(317)	0
Impact of foreign currency translation	(28)
Impact of foreign currency translation		29
Ending Balance	$ 8,937	$ 8,060

RETIREMENT AND SAVINGS PLANS (Details) - USD ($) $ in Millions	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, cost	$ 3.5	$ 1.4	$ 3.5
Deferred compensation plan liability	2.2	2.2
Deferred compensation plan assets	2.2	2.2
Stock repurchased	3.4	3.2
Canada
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, cost	$ 0.6
Puerto Rico
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, cost		$ 0.7
Asia
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, cost			$ 0.7
Non-highly Compensated Associates
Defined Benefit Plan Disclosure [Line Items]
Employer matching contribution, percent of employees' gross pay	3.00%
Employer matching contribution, fifty percentage of next two percent of company match	50.00%
Employer matching contribution, next two percent of company match	2.00%
Highly Compensated Associates
Defined Benefit Plan Disclosure [Line Items]
Employer matching contribution, percent of match	50.00%
Employer matching contribution, highly compensated 2.5 percent match	2.50%
Defined contribution plan, employers matching contribution, vesting term	5 years

SEGMENT INFORMATION - Narrative (Details) - store	Jan. 29, 2022	Jan. 30, 2021
The Children’s Place U.S.
Segment information [Line Items]
Number of Stores	589	648
The Children's Place International
Segment information [Line Items]
Number of Stores	83	101

SEGMENT INFORMATION - Segment Reporting (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 29, 2022	Jan. 30, 2021	Feb. 01, 2020
Segment information [Line Items]
Net sales	$ 1,915,364	$ 1,522,598	$ 1,870,667
Operating income (loss)	$ 275,648	$ (199,915)	$ 96,358
Operating income (loss) as a percent of net sales	14.40%	(13.10%)	5.20%
Depreciation and amortization	$ 58,417	$ 66,405	$ 74,788
Capital expenditures	29,307	30,585	57,502
ASSETS
Total assets	1,037,460	1,140,127
Operating Segments \| The Children’s Place U.S. \| U.S
Segment information [Line Items]
Net sales	1,723,887	1,372,079	1,671,165
Operating income (loss)	$ 253,419	$ (196,565)	$ 77,989
Operating income (loss) as a percent of net sales	14.70%	(14.30%)	4.70%
Depreciation and amortization	$ 53,984	$ 61,074	$ 67,416
Capital expenditures	28,551	29,955	56,598
ASSETS
Total assets	951,401	1,054,339
Operating Segments \| The Children's Place International \| International
Segment information [Line Items]
Net sales	191,477	150,519	199,502
Operating income (loss)	$ 22,229	$ (3,350)	$ 18,369
Operating income (loss) as a percent of net sales	11.60%	(2.20%)	9.20%
Depreciation and amortization	$ 4,433	$ 5,331	$ 7,372
Capital expenditures	756	630	$ 904
ASSETS
Total assets	$ 86,059	$ 85,788

SEGMENT INFORMATION - Long-lived Assets (Details) - USD ($) $ in Thousands	Jan. 29, 2022	Jan. 30, 2021
Segment information [Line Items]
Total long-lived assets	$ 432,813	$ 547,465
United States
Segment information [Line Items]
Total long-lived assets	415,548	521,304
Canada
Segment information [Line Items]
Total long-lived assets	16,868	25,355
Asia
Segment information [Line Items]
Total long-lived assets	$ 397	$ 806