0001628280-24-020436 | 10-K | XBRL Viewer

INTANGIBLE ASSETS (Tables)

12 Months Ended

Feb. 03, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Goodwill

The Company’s intangible assets were as follows:


		February 3, 2024
	Useful Life	Gross Amount		Accumulated Amortization		Net Amount
		(in thousands)
Gymboree tradename (1)	Indefinite	$	41,000	$	—	$	41,000
Crazy 8 tradename (1)	5 years	4,000		(3,877)		123
Total intangible assets		$	45,000	$	(3,877)	$	41,123


		January 28, 2023
	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		(3,062)		938
Customer databases (2)	3 years	3,000		(3,000)		—
Total intangible assets		$	76,953	$	(6,062)	$	70,891

____________________________________________

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

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

PREPAID EXPENSES AND OTHER CURRENT ASSETS

12 Months Ended

Feb. 03, 2024

Prepaid Expenses and Other Current Assets [Abstract]

PREPAID EXPENSES AND OTHER CURRENT ASSETS

Prepaid expenses and other current assets consisted of the following:


	February 3, 2024		January 28, 2023
	(in thousands)
Prepaid income taxes	$	26,493	$	30,781
Prepaid cloud computing	8,329		6,635
Prepaid insurance	2,679		3,305
Prepaid maintenance contracts	1,843		2,107





Other	3,825		5,047
Total prepaid expenses and other current assets	$	43,169	$	47,875

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Feb. 03, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Company’s Stock-Based Compensation Expense

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


	Fiscal Years Ended
	February 3, 2024		January 28, 2023		January 29, 2022
	(in thousands)
Deferred Awards	$	6,619	$	9,937	$	13,061
Performance Awards (1)	(12,195)		19,213		17,881

Total stock-based compensation expense (benefit) (2)	$	(5,576)	$	29,150	$	30,942

____________________________________________

(1) Included within the Performance Awards benefit for Fiscal 2023 was a combination of ongoing expense associated with existing grants and $13.5 million of credits resulting from (a) a change in estimate based on revised expectations of the attainment levels for performance metrics of certain awards, and (b) the reversal of unvested expense related to forfeited awards for employees no longer with the Company.

(2) Stock-based compensation expense (benefit) recorded within Cost of sales (exclusive of depreciation and amortization) amounted to $0.4 million, $2.2 million, and $3.3 million in Fiscal 2023, Fiscal 2022, and Fiscal 2021, respectively. All other stock-based compensation expense is included in Selling, general, and administrative expenses.

Schedule of Unvested Deferred Award Roll Forward

Deferred Awards


	Fiscal Years Ended
	February 3, 2024			January 28, 2023			January 29, 2022
	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	282	$	49.78	467	$	57.60	550	$	55.43
Granted	170	25.35		159	46.56		157	76.59
Vested	(203)	50.08		(222)	62.13		(229)	63.73
Forfeited	(11)	52.27		(122)	53.09		(11)	92.10
Unvested Deferred Awards at end of year	238	$	31.99	282	$	49.78	467	$	57.60

Schedule of Unvested Performance Award Roll Forward

Performance Awards


	Fiscal Years Ended
	February 3, 2024			January 28, 2023			January 29, 2022
	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	483	$	55.85	366	$	70.01	350	$	74.37
Granted	131	21.55		90	48.84		164	75.01
Shares earned in excess of (below) Target Shares	—	—		192	48.17		(22)	65.34
Vested shares, including shares earned in excess of Target Shares	(300)	44.71		(58)	101.62		(119)	89.44
Forfeited	(18)	55.01		(107)	59.86		(7)	90.22
Unvested Performance Awards at end of year	296	$	51.98	483	$	55.85	366	$	70.01

____________________________________________

(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%.

RETIREMENT AND SAVINGS PLANS (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, cost	$ 4.0	$ 4.5	$ 3.5
Other Pension, Postretirement and Supplemental Plans
Defined Benefit Plan Disclosure [Line Items]
Deferred compensation plan liability	1.2	1.3
Deferred compensation plan assets	1.2	1.3
Stock repurchased	2.9	3.7
Canada \| Other Postretirement Benefits Plan
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, cost	$ 0.6
Puerto Rico \| Other Postretirement Benefits Plan
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, cost		$ 0.6
Asia \| Other Postretirement Benefits Plan
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, cost			$ 0.6
Non-highly Compensated Associates \| Pension Plan
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 \| Pension Plan
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	Feb. 03, 2024	Jan. 28, 2023
Segment information [Line Items]
Number of stores	500
The Children’s Place U.S.
Segment information [Line Items]
Number of stores	460	540
The Children's Place International
Segment information [Line Items]
Number of stores	63	73

STOCK-BASED COMPENSATION

12 Months Ended

Feb. 03, 2024

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, and each Performance Award has a defined number of shares that an employee can earn (the “Target Shares”). 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 2023 and Fiscal 2022, employees may earn from 0% to 200% of their Target Shares, and for Performance Awards granted in Fiscal 2021, employees may earn from 0% to 300% 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 (benefit):


	Fiscal Years Ended
	February 3, 2024		January 28, 2023		January 29, 2022
	(in thousands)
Deferred Awards	$	6,619	$	9,937	$	13,061
Performance Awards (1)	(12,195)		19,213		17,881

Total stock-based compensation expense (benefit) (2)	$	(5,576)	$	29,150	$	30,942

____________________________________________

The Company recognized a tax benefit related to stock-based compensation expense (benefit) of $0.3 million, $2.5 million, and $2.6 million for Fiscal 2023, Fiscal 2022, and Fiscal 2021, respectively.

At February 3, 2024, the Company had 470,805 shares available for grant under the Equity Plan.

Changes in the Company’s Unvested Stock Awards

Deferred Awards


	Fiscal Years Ended
	February 3, 2024			January 28, 2023			January 29, 2022
	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	282	$	49.78	467	$	57.60	550	$	55.43
Granted	170	25.35		159	46.56		157	76.59
Vested	(203)	50.08		(222)	62.13		(229)	63.73
Forfeited	(11)	52.27		(122)	53.09		(11)	92.10
Unvested Deferred Awards at end of year	238	$	31.99	282	$	49.78	467	$	57.60

Total unrecognized stock-based compensation expense related to unvested Deferred Awards was $4.7 million as of February 3, 2024, which will be recognized over a weighted average period of approximately 1.9 years.

The fair value of Deferred Awards that vested during Fiscal 2023, Fiscal 2022, and Fiscal 2021 was $4.7 million, $11.4 million, and $14.6 million, respectively.

Performance Awards


	Fiscal Years Ended
	February 3, 2024			January 28, 2023			January 29, 2022
	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	483	$	55.85	366	$	70.01	350	$	74.37
Granted	131	21.55		90	48.84		164	75.01
Shares earned in excess of (below) Target Shares	—	—		192	48.17		(22)	65.34
Vested shares, including shares earned in excess of Target Shares	(300)	44.71		(58)	101.62		(119)	89.44
Forfeited	(18)	55.01		(107)	59.86		(7)	90.22
Unvested Performance Awards at end of year	296	$	51.98	483	$	55.85	366	$	70.01

____________________________________________

The cumulative expense (benefit) 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 $1.9 million as of February 3, 2024, which will be recognized over a weighted average period of approximately 2.3 years.

The fair value of Performance Awards that vested during Fiscal 2023, Fiscal 2022, and Fiscal 2021 was $11.8 million, $3.0 million, and $10.6 million, respectively.

As discussed in “Note 18. Subsequent Events” of the Consolidated Financial Statements, “Item 8. Financial Statements and Supplementary Data” of this Form 10-K, there was a change of control of the Company in February 2024, which triggered a conversion of all Performance Awards into service-based Performance Awards. As a result, the Fiscal 2023, Fiscal 2022, and Fiscal 2021 Performance Awards are all expected to vest at their Target Shares on their respective vesting dates without regard to the achievement of any of the performance metrics associated with those awards.

RESTRUCTURING (Tables)

12 Months Ended

Feb. 03, 2024

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

As a result of these strategic actions associated with the voluntary early termination of its corporate office lease, the move from the TODC, and workforce reductions, the Company incurred non-operating charges of $11.8 million in restructuring costs during Fiscal 2023 on a pretax basis, summarized in the following table:


	Fiscal Years Ended
	February 3, 2024		January 28, 2023
	(in thousands)
Employee-related costs	$	7,382	$	—
Lease termination costs (1)	4,158		—
Professional fees	268		—
Total restructuring costs (2)	$	11,808	$	—

___________________________________________

(1)Includes non-cash charges related to accelerated depreciation on certain assets in the corporate office over the reduced term, amounting to $1.8 million during Fiscal 2023.

(2)Restructuring costs are recorded within Selling, general and administrative expenses, except accelerated depreciation charges noted above, which are recorded within Depreciation and amortization, and are primarily recorded within The Children’s Place U.S. segment.

Schedule of Restructuring Reserve by Type of Cost

The following table summarizes the restructuring costs that have been partially settled with cash payments and the remaining related liability as of February 3, 2024. The remaining related liability is expected to be settled with cash payments in Fiscal 2024 and these costs are included in Accrued expenses and other current liabilities on the Consolidated Balance Sheets:



	Employee-Related Costs		Lease Termination Costs		Professional Fees		Total
	(in thousands)
Balance at April 29, 2023	$	—	$	—	$	—	$	—
Provision	5,433		4,040		186		9,659
Cash Payments	(2,602)		(4,040)		—		(6,642)
Balance at July 29, 2023	2,831		—		186		3,017
Provision	674		—		82		756
Cash Payments	(2,652)		—		(268)		(2,920)
Balance at October 28, 2023	853		—		—		853
Provision	1,275		—		—		1,275
Cash Payments	(462)		—		—		(462)
Balance at February 3, 2024	$	1,666	$	—	$	—	$	1,666

REVENUES - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Disaggregation of Revenue [Line Items]
Net sales	$ 1,602,508	$ 1,708,482	$ 1,915,364
South
Disaggregation of Revenue [Line Items]
Net sales	586,370	633,430	724,375
Northeast
Disaggregation of Revenue [Line Items]
Net sales	304,554	339,072	412,785
West
Disaggregation of Revenue [Line Items]
Net sales	208,249	231,135	277,162
Midwest
Disaggregation of Revenue [Line Items]
Net sales	185,126	196,075	242,392
International and other
Disaggregation of Revenue [Line Items]
Net sales	$ 318,209	$ 308,770	$ 258,650

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- 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
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

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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-Subparagraph (b)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Feb. 03, 2024	Jan. 28, 2023
Current assets:
Cash and cash equivalents	$ 13,639	$ 16,689
Accounts receivable	33,219	49,584
Inventories	362,099	447,795
Prepaid expenses and other current assets	43,169	47,875
Total current assets	452,126	561,943
Long-term assets:
Property and equipment, net	124,750	149,874
Right-of-use assets	175,351	155,481
Tradenames, net	41,123	70,891
Deferred income taxes	0	36,616
Other assets	6,958	11,476
Total assets	800,308	986,281
Current liabilities:
Revolving loan	226,715	286,990
Accounts payable	225,549	177,147
Current portion of operating lease liabilities	69,235	78,576
Income taxes payable	5,297	6,014
Accrued expenses and other current liabilities	89,608	99,658
Total current liabilities	616,404	648,385
Long-term liabilities:
Long-term debt	49,818	49,752
Long-term portion of operating lease liabilities	118,073	96,482
Income taxes payable	9,486	17,199
Other tax liabilities	4,664	2,757
Other long-term liabilities	10,882	13,228
Total liabilities	809,327	827,803
Commitments and contingencies (see Note 10)
Stockholders’ equity (deficit):
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; 12,585 and 12,292 issued; 12,529 and 12,225 outstanding	1,259	1,229
Additional paid-in capital	141,083	150,956
Treasury stock, at cost (56 and 67 shares)	(2,909)	(3,736)
Deferred compensation	2,909	3,736
Accumulated other comprehensive loss	(16,496)	(16,247)
Retained earnings (deficit)	(134,865)	22,540
Total stockholders’ equity (deficit)	(9,019)	158,478
Total liabilities and stockholders’ equity (deficit)	$ 800,308	$ 986,281

SEGMENT INFORMATION

12 Months Ended

Feb. 03, 2024

Segment Reporting [Abstract]

SEGMENT INFORMATION

In 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 and www.gymboree.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 customer that individually accounted for more than 10% of its net sales. As of February 3, 2024, The Children’s Place U.S. had 460 stores and The Children’s Place International had 63 stores. As of January 28, 2023, The Children’s Place U.S. had 540 stores and The Children’s Place International had 73 stores.

The following tables provide segment level financial information for Fiscal 2023, Fiscal 2022, and Fiscal 2021:


	Fiscal Years Ended
	February 3, 2024		January 28, 2023		January 29, 2022
	(in thousands)
Net sales:
The Children’s Place U.S.	$	1,457,352	$	1,533,934	$	1,723,887
The Children’s Place International (1)	145,156		174,548		191,477
Total net sales	$	1,602,508	$	1,708,482	$	1,915,364








Operating income (loss):
The Children’s Place U.S.	$	(86,482)	$	(8,781)	$	253,419
The Children’s Place International	2,684		7,251		22,229
Total operating income (loss)	$	(83,798)	$	(1,530)	$	275,648


Operating income (loss) as a percentage of net sales:
The Children’s Place U.S.	(5.9)		%	(0.6)		%	14.7		%
The Children’s Place International	1.8		%	4.2		%	11.6		%
Total operating income (loss) as a percentage of net sales	(5.2)		%	(0.1)		%	14.4		%
Depreciation and amortization:
The Children’s Place U.S.	$	43,428		$	47,612		$	53,984
The Children’s Place International	3,758			3,852			4,433
Total depreciation and amortization	$	47,186		$	51,464		$	58,417
Capital expenditures:
The Children’s Place U.S.	$	27,462		$	44,970		$	28,551
The Children’s Place International	97			607			756
Total capital expenditures	$	27,559		$	45,577		$	29,307

____________________________________________

(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.


	February 3, 2024		January 28, 2023
	(in thousands)
Total assets:
The Children’s Place U.S.	$	758,003	$	922,120
The Children’s Place International	42,305		64,161
Total assets	$	800,308	$	986,281

Geographic Information

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


	February 3, 2024		January 28, 2023
	(in thousands)
Long-lived assets (1):
United States	$	334,425	$	377,388
Canada	13,382		9,883
Asia	375		451
Total long-lived assets	$	348,182	$	387,722

____________________________________________

(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
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Section 50
-Paragraph 32
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Topic 280
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

INTANGIBLE ASSETS

12 Months Ended

Feb. 03, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

On April 4, 2019, the Company acquired certain intellectual property and related 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 performed its annual impairment assessment of the Gymboree tradename as of December 31, 2023 and recorded an impairment charge of $29.0 million in Fiscal 2023, which reduced the carrying value to its fair value of $41.0 million. There were no impairment charges recorded in Fiscal 2022 or Fiscal 2021.

The Company’s intangible assets were as follows:


		February 3, 2024
	Useful Life	Gross Amount		Accumulated Amortization		Net Amount
		(in thousands)
Gymboree tradename (1)	Indefinite	$	41,000	$	—	$	41,000
Crazy 8 tradename (1)	5 years	4,000		(3,877)		123
Total intangible assets		$	45,000	$	(3,877)	$	41,123


		January 28, 2023
	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		(3,062)		938
Customer databases (2)	3 years	3,000		(3,000)		—
Total intangible assets		$	76,953	$	(6,062)	$	70,891

____________________________________________

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

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

INCOME TAXES - Components of Income (Loss) Before Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Income Tax Disclosure [Abstract]
Domestic	$ (156,703)	$ (61,065)	$ 198,173
Foreign	42,905	46,303	58,857
Income (loss) before provision (benefit) for income taxes	$ (113,798)	$ (14,762)	$ 257,030

- 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
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Paragraph 30
-Subparagraph (b)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 32
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/exampleRef
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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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-Section S99
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

FAIR VALUE MEASUREMENT	12 Months Ended
FAIR VALUE MEASUREMENT	Feb. 03, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENT	FAIR VALUE MEASUREMENT 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. The Company’s Deferred Compensation Plan assets and liabilities 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 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. Impairment of Long-Lived Assets The fair value of the Company’s long-lived assets is primarily calculated using a discounted cash-flow model directly associated with those assets, which consist principally of property and equipment and ROU assets. These assets are tested for impairment when events indicate that their carrying value may not be recoverable. The Company performed periodic quantitative impairment assessments of its long-lived assets, inclusive of ROU assets and recorded impairment charges of $5.6 million, $3.3 million, and $1.5 million during Fiscal 2023, Fiscal 2022, and Fiscal 2021, respectively, primarily due to reductions in Gymboree sales forecasts. Impairment charges were primarily recorded in The Children’s Place U.S. segment. Impairment of Indefinite-Lived Intangible Assets The Company estimates the fair value of its indefinite-lived Gymboree tradename based on an income approach using the relief-from-royalty method. Estimating fair value using this method requires management to estimate future revenues, royalty rates, discount rates, long-term growth rates, and other factors in order to project future cash flows. The Company performed its annual tradename impairment assessment of the Gymboree tradename as of December 31, 2023, in accordance with FASB ASC 350—Intangibles – Goodwill and Other. Based on this assessment, the Company recorded an impairment charge of $29.0 million, primarily due to an increase in the discount rate used to value the tradename and reductions in Gymboree sales forecasts, which reduced the carrying value to its fair value of $41.0 million. The impairment charge was recorded in The Children’s Place U.S. segment.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

PROPERTY AND EQUIPMENT, NET (Tables)

12 Months Ended

Feb. 03, 2024

Property, Plant and Equipment [Abstract]

Property and equipment

Property and equipment consisted of the following:


	February 3, 2024		January 28, 2023
	(in thousands)
Property and equipment:
Land and land improvements	$	3,403	$	3,403
Building and improvements	36,187		36,187
Material handling equipment	90,637		71,404
Leasehold improvements	162,898		196,302
Store fixtures and equipment	173,667		210,413
Capitalized software	333,953		336,336
Construction in progress	3,386		23,959
	804,131		878,004
Less accumulated depreciation and amortization	(679,381)		(728,130)
Property and equipment, net	$	124,750	$	149,874

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	Feb. 03, 2024 USD ($)	Aug. 16, 2023 demand	Apr. 29, 2017 USD ($)
Other Commitments [Line Items]
Operating lease	$ 227,272
Rael v. The Children’s Place, Inc.
Other Commitments [Line Items]
Loss contingency, estimate of possible loss			$ 5,000
Gabriela Gonzalez v. The Children’s Place, Inc.
Other Commitments [Line Items]
Individual demands filed received \| demand		1,300
Purchase Commitments Merchandise
Other Commitments [Line Items]
Purchase commitments for the next 12 months	229,800
Purchase Commitments Construction
Other Commitments [Line Items]
Purchase commitments for the next 12 months	$ 34,000

REVENUES

12 Months Ended

Feb. 03, 2024

Revenue from Contract with Customer [Abstract]

REVENUES

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


	Fiscal Years Ended
	February 3, 2024		January 28, 2023		January 29, 2022
	(in thousands)
Net sales:
South	$	586,370	$	633,430	$	724,375
Northeast	304,554		339,072		412,785
West	208,249		231,135		277,162
Midwest	185,126		196,075		242,392
International and other (1)	318,209		308,770		258,650
Total net sales	$	1,602,508	$	1,708,482	$	1,915,364

____________________________________________

(1)Includes retail and e-commerce sales in Canada and Puerto Rico, wholesale and franchisee sales, and certain amounts earned under the Company’s private label credit card program.

- 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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
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-Subparagraph (a)
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (DEFICIT) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Deferred Compensation	Retained Earnings (Deficit)	Accumulated Other Comprehensive (Loss)	Treasury Stock
Beginning balance (in shares) at Jan. 30, 2021		14,641
Beginning balance at Jan. 30, 2021	$ 93,377	$ 1,464	$ 148,519	$ 3,165	$ (42,790)	$ (13,816)	$ (3,165)
Beginning balance, treasury stock (in shares) at Jan. 30, 2021							(57)
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)
Other comprehensive loss	(370)					(370)
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
Ending balance at Jan. 29, 2022	225,472	$ 1,396	160,348	3,443	77,914	(14,186)	$ (3,443)
Ending balance, treasury stock (in shares) at Jan. 29, 2022							(61)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of stock awards (in shares)		281
Vesting of stock awards	0	$ 28	(28)
Stock-based compensation expense	29,150		29,150
Purchase and retirement of shares (in shares)		(1,953)
Purchase and retirement of common stock	(92,945)	$ (195)	(38,514)		(54,236)
Other comprehensive loss	(2,061)					(2,061)
Deferral of common stock into deferred compensation plan	0			293			$ (293)
Deferral of common stock into deferred compensation plan (in shares)							(6)
Net income (loss)	$ (1,138)				(1,138)
Ending balance (in shares) at Jan. 28, 2023	12,225	12,292
Ending balance at Jan. 28, 2023	$ 158,478	$ 1,229	150,956	3,736	22,540	(16,247)	$ (3,736)
Ending balance, treasury stock (in shares) at Jan. 28, 2023	(67)						(67)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of stock awards (in shares)		503
Vesting of stock awards	$ 0	$ 51	(51)
Stock-based compensation expense	(5,576)		(5,576)
Purchase and retirement of shares (in shares)		(210)
Purchase and retirement of common stock	(7,131)	$ (21)	(4,246)		(2,864)
Other comprehensive loss	(249)					(249)
Deferral of common stock into deferred compensation plan	0			(827)			$ 827
Deferral of common stock into deferred compensation plan (in shares)							11
Net income (loss)	$ (154,541)				(154,541)
Ending balance (in shares) at Feb. 03, 2024	12,529	12,585
Ending balance at Feb. 03, 2024	$ (9,019)	$ 1,259	$ 141,083	$ 2,909	$ (134,865)	$ (16,496)	$ (2,909)
Ending balance, treasury stock (in shares) at Feb. 03, 2024	(56)						(56)

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

12 Months Ended

Feb. 03, 2024

Payables and Accruals [Abstract]

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:


	February 3, 2024		January 28, 2023
	(in thousands)
Accrued salaries and benefits	$	19,140	$	16,191
Accrued freight	10,324		4,275
Sales taxes and other taxes payable	7,212		5,643
Customer liabilities	6,817		11,132
Accrued legal costs	6,771		3,880
Accrued real estate expenses	6,366		10,799
Deferred revenue	4,832		3,954
Accrued outside services	4,044		7,235
Accrued insurance	3,786		4,277
Accrued IT costs	2,995		4,676
Accrued marketing	3,177		4,286
Accrued store expenses	2,319		4,230
Accrued professional fees	2,301		2,529
Loyalty points	1,686		2,626
Accrued construction-in-progress	1,045		3,613
Other	6,793		10,312
Total accrued expenses and other current liabilities	$	89,608	$	99,658

STOCK-BASED COMPENSATION - Schedule of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Stock-based compensation expense
Total stock-based compensation expense	$ (5,576)	$ 29,150	$ 30,942
Cost of Sales
Stock-based compensation expense
Total stock-based compensation expense	400	2,200	3,300
Deferred Awards
Stock-based compensation expense
Total stock-based compensation expense	6,619	9,937	13,061
Performance Awards
Stock-based compensation expense
Total stock-based compensation expense	$ (12,195)	19,213	$ 17,881
Ongoing expenses		$ 13,500

Audit Information	12 Months Ended
Audit Information	Feb. 03, 2024
Audit Information [Abstract]
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	Iselin, New Jersey

INCOME TAXES - Schedule of Reconciliation of Tax Provision (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Income Tax Disclosure [Abstract]
Calculated income tax provision (benefit) at U.S. federal statutory rate	$ (23,898)	$ (3,100)	$ 53,976
State and local income taxes, net of federal benefit	(6,901)	(3,812)	14,394
Foreign tax rate differential	(4,937)	(5,498)	(3,598)
Non-deductible expenses	(1,488)	3,696	7,301
Excess tax detriment (benefit) related to stock compensation	558	816	(293)
Unrecognized tax benefits	3,127	(5,324)	1,050
Change in valuation allowance	68,625	163	358
Global intangible low-taxed income	9,505	1,760	1,476
Federal tax credits	(3,242)	(2,934)	(2,882)
Other	(606)	609	(1,923)
Total provision (benefit) for income taxes	$ 40,743	$ (13,624)	$ 69,859
Foreign effective tax rates	11.60%	9.80%	16.60%

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Feb. 03, 2024	Jan. 28, 2023
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)	12,585,000	12,292,000
Common stock, shares outstanding (in shares)	12,529,000	12,225,000
Treasury stock, shares (in shares)	56,000	67,000

LEASES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
LEASES - Narrative (Details) - USD ($) $ in Thousands	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Leases [Abstract]
Operating lease, weighted average remaining lease term	4 years 2 months 12 days
Operating lease, weighted average discount rate	7.10%
Measurement of operating lease liabilities	$ 93,396	$ 102,522	$ 172,454
Right-of-use asset obtained in exchange for operating lease liability	$ 120,500

STOCKHOLDERS' EQUITY (DEFICIT)

12 Months Ended

Feb. 03, 2024

Stockholders' Equity Note [Abstract]

STOCKHOLDERS' EQUITY (DEFICIT)

STOCKHOLDERS’ EQUITY (DEFICIT)

Share Repurchase Program

In November 2021, the Board of Directors authorized a $250.0 million share repurchase program (the “Share Repurchase Program”). Under this program, 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 the 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 program at any time and may thereafter reinstitute purchases, all without prior announcement. Currently, pursuant to the terms of the Company’s Credit Agreement as amended by its Seventh Amendment described above, the Company is not expecting to repurchase any shares in Fiscal 2024, except as described below, pursuant to our practice as a result of our insider trading policy. As of February 3, 2024, there was $157.2 million remaining availability under the Share Repurchase Program.

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
	February 3, 2024		January 28, 2023		January 29, 2022
	Shares	Amount	Shares	Amount	Shares	Amount
	(in thousands)
Share repurchases related to:
Share repurchase program	210	7,131	1,953	92,945	1,025	85,648
Shares acquired and held in treasury	8	245	6	293	4	278

In accordance with the 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 (deficit). 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 2023, Fiscal 2022, and Fiscal 2021, $2.9 million, $54.2 million, and $66.5 million was charged to Retained earnings (deficit), respectively.

Dividends

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. Currently, pursuant to the terms of the Company’s Credit Agreement as amended by its Seventh Amendment described above, the Company is not expecting to pay any cash dividends in Fiscal 2024.

- Definition

The entire disclosure for equity.

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+ Details

LEASES - Lease Liability Maturity (Details) $ in Thousands	Feb. 03, 2024 USD ($)
Leases [Abstract]
2024	$ 79,480
2025	50,582
2026	28,096
2027	15,252
2028	13,257
Thereafter	40,605
Total lease payments	227,272
Less: imputed interest	(39,964)
Present value of operating lease liabilities	$ 187,308

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Feb. 03, 2024
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of Business The Children’s Place, Inc. and its subsidiaries (collectively, the “Company”) operate an omni-channel children’s specialty portfolio of brands with an industry-leading digital-first operating model. Its global retail and wholesale network includes two digital storefronts, more than 500 stores in North America, wholesale marketplaces and distribution in 16 countries through six international franchise partners. The Company designs, contracts to manufacture, and sells fashionable, high-quality apparel, accessories and footwear predominantly at value prices, primarily under the Company’s proprietary brands “The Children’s Place”, “Gymboree”, “Sugar & Jade”, and “PJ Place”. 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 and www.gymboree.com. The Company also has social media channels on Instagram, Facebook, X, formerly known as Twitter, YouTube and Pinterest. Terms that are commonly used in the notes to the Company’s consolidated financial statements are defined as follows: •Fiscal 2023 - The fifty-three weeks ended February 3, 2024 •Fiscal 2022 - The fifty-two weeks ended January 28, 2023 •Fiscal 2021 - The fifty-two weeks ended January 29, 2022 •Fiscal 2024 - The Company’s next fiscal year representing the fifty-two weeks ending February 1, 2025 •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 2023 was a 53-week year, Fiscal 2022 and 2021 were 52-week years. Liquidity The Company incurred net losses in Fiscal 2023 and Fiscal 2022. As of February 3, 2024, the Company had an accumulated deficit of $134.9 million, a working capital deficit of $164.3 million, which included borrowings of $226.7 million under its asset-based revolving credit facility, which do not mature until November 2026, and the Company had availability under its asset-based revolving credit facility of $24.3 million. These conditions had raised concerns for the Company about its ability to fund its operations without additional liquidity. Subsequent to February 3, 2024, the Company raised additional debt financing of $168.6 million from Mithaq Capital SPC, a Cayman segregated portfolio company (“Mithaq”). The proceeds from these financings have been used to pay down the Company’s $50.0 million term loan that existed as of February 3, 2024, and the remaining proceeds were used to support the general operations of the business, including working capital. The Company plans to alleviate its liquidity concerns with additional financing. On May 2, 2024, the Company and Mithaq entered into a commitment letter pursuant to which Mithaq agreed to provide the Company an unsecured credit facility of up to $40.0 million in accordance with the terms described in “Note 18. Subsequent Events” of the Consolidated Financial Statements, “Item 8. Financial Statements and Supplementary Data” of this Form 10-K. This credit facility will be available to draw on during the availability period to augment its liquidity position, if needed. The Company concluded that its existing cash on hand, expected cash generated from operations, funds available to it through its asset-based revolving credit facility and the additional financings received from Mithaq subsequent to Fiscal 2023, including that to be provided pursuant to the commitment letter, will be sufficient to fund its capital and other cash requirements for at least the next twelve months from the date that the consolidated financial statements were issued. 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 February 3, 2024 and January 28, 2023, 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 prior period financial statements disclosures have been conformed 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, impairment of indefinite-lived intangible 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, wholesale and franchisee 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. Wholesale and franchisee 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 based upon the historical results of physical inventory counts in the context of current year facts and circumstances. 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 deferred financing costs for the term loan are recorded in Long-term debt. These costs are amortized as Interest expense over the term of the related indebtedness. 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 an indefinite life consists of the acquired Gymboree tradename, which is 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 this intangible asset 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 (“ROU”) 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 inflationary pressures impacting our customer, and changes in product input costs, transporting costs, distribution costs and wage rates. 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. In addition, the Company utilizes market-corroborated inputs, including sales per square foot and cost of occupancy rates, in its calculation of the fair value of its ROU assets and any necessary discounting required for rent rates based on macroeconomic conditions or local mall conditions. 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 13 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 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 ROU 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. Accumulated Other Comprehensive Loss Accumulated other comprehensive loss primarily consists of cumulative translation adjustments. 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 (deficit). 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 (deficit) 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 some 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. The assumptions utilized in determining future taxable income require significant judgment. Actual operating results in future years could differ from current assumptions, judgments and estimates. If the Company determines that it would not be able to realize its 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. The Company recognizes accrued interest and penalties for its unrecognized tax benefits as a component of tax expense. The Company accounts for the tax effects of the tax on global intangible low-taxed income (“GILTI”) of certain foreign subsidiaries in the income tax provision in the period the tax arises. 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, and they 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 Deferred Compensation Plan does not allow for the deferral of the Company’s common stock by employee participants. 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 year 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 (deficit). The Company also transacts certain business in foreign denominated currencies primarily with its Canadian subsidiary purchasing inventory in U.S. dollars, and there are intercompany charges between various subsidiaries. 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 $3.1 million and $2.9 million within Accrued expenses and other current liabilities as of February 3, 2024 and January 28, 2023, 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 its wholesale business, the Company recognizes revenue, including shipping and handling fees billed to customers, when title of the goods passes to the customer, net of commissions, discounts, operational chargebacks, and cooperative advertising. The allowance for wholesale revenue included within Accounts receivable was $9.0 million and $5.0 million as of February 3, 2024 and January 28, 2023, respectively. For the sale of goods to retail customers 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 $1.7 million and $1.0 million as of February 3, 2024 and January 28, 2023, respectively. 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 and www.gymboree.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 and promoting the program on behalf of the bank and the operation of the loyalty rewards program. Included in the agreement with the third-party financial institution was an upfront bonus paid to the Company and an additional bonus to extend the term of the agreement. These bonuses are 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 term of the agreement. 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 private label credit card 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 recognized quarterly within an annual period when it can be estimated reliably. 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 $1.7 million and $2.6 million as of February 3, 2024 and January 28, 2023, 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 gift card liability balance was $6.8 million and $11.1 million as of February 3, 2024 and January 28, 2023, respectively. During Fiscal 2023, the Company recognized Net sales of $9.3 million related to the gift card liability balance that existed at January 28, 2023. 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 its 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 (benefit) 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 (benefit) 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 defers costs associated with the production of advertising until the first time the advertising takes place. Costs associated with communicating advertising that has been produced are expensed when the advertising event takes place. Advertising and other marketing costs are recorded in Selling, general, and administrative expenses and amounted to $99.9 million, $55.5 million, and $44.3 million in Fiscal 2023, Fiscal 2022, and Fiscal 2021, 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 $0.2 million and $1.4 million at February 3, 2024 and January 28, 2023, respectively, and were recorded within Prepaid expenses and other current assets in the Company’s Consolidated Balance Sheets. Earnings (Loss) per Common Share The Company reports its earnings (loss) 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 Deferred Awards and Performance Awards (as both terms are used in “Note 12. Stock-Based Compensation” of the Consolidated Financial Statements, “Item 8. Financial Statements and Supplementary Data” of this Form 10-K), 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. Recent Accounting Standards Updates In November 2023, the FASB issued Accounting Standards Update No. 2023-07 “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” (“ASU 2023-07”). The amendments in ASU 2023-07 are designed to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses during interim and annuals periods. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of this update on its consolidated financial statements. In December 2023, the FASB issued Accounting Standards Update No. 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” (“ASU 2023-09”). The amendments in ASU 2023-09 are designed to enhance the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the rate reconciliation, and income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of this update on its consolidated financial statements.

REVENUES (Tables)

12 Months Ended

Feb. 03, 2024

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

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


	Fiscal Years Ended
	February 3, 2024		January 28, 2023		January 29, 2022
	(in thousands)
Net sales:
South	$	586,370	$	633,430	$	724,375
Northeast	304,554		339,072		412,785
West	208,249		231,135		277,162
Midwest	185,126		196,075		242,392
International and other (1)	318,209		308,770		258,650
Total net sales	$	1,602,508	$	1,708,482	$	1,915,364

____________________________________________

(1)Includes retail and e-commerce sales in Canada and Puerto Rico, wholesale and franchisee sales, and certain amounts earned under the Company’s private label credit card program

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Feb. 03, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Commitments As of February 3, 2024, the Company entered into various purchase commitments for the next 12 months for merchandise for re-sale of approximately $229.8 million and approximately $34.0 million for equipment, construction, and other non-merchandise commitments. The Company also has operating lease and standby letters of credit commitments of $227.3 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 were eligible for redemption in multiple rounds through November 2023. On February 23, 2024, a hearing on motion for preliminary injunction and permanent injunction and to enforce judgement and settlement agreement was held. Pending receipt of the court’s ruling, upon the court’s order, the plaintiff filed a renewed motion for attorneys’ fees, costs and incentive awards on March 4, 2024, to which the Company filed a statement of non-opposition on April 1, 2024. Because the plaintiff was seeking less than the maximum amount agreed to in the settlement, the Company requested that such difference in amount be distributed as vouchers to authorized class members, pursuant to the settlement agreement. The hearing for the motion for attorneys’ fees, costs, and incentive awards is set for May 3, 2024. 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. Similar to the Rael case above, the Company is also a defendant in Gabriela Gonzalez v. The Children’s Place, Inc., a purported class action, pending in the U.S. District Court, Central District of California. The plaintiff alleged that the Company had falsely advertised discounts that do not exist, in violation of California’s Unfair Competition Laws, False Advertising Law and the California Consumer Legal Remedies Act. The Company filed a motion to compel arbitration, which the plaintiff did not oppose, and the court granted the motion on August 17, 2022—staying the case pending the outcome of the arbitration. The demand for arbitration was filed on October 4, 2022, in connection with the individual claim of the plaintiff. A mass arbitration firm associated with plaintiff’s counsel then conducted an advertising campaign for claimants to conduct a mass arbitration. In part, to avoid the mass arbitration, the parties stipulated to return the original plaintiff’s claim to court to proceed as a class action. Accordingly, the arbitration would not be proceeding and the Company’s response to the original plaintiff’s complaint in court was filed on July 20, 2023. On August 16, 2023, however, the Company began to receive notices regarding approximately 1,300 individual demands that were filed with Judicial Arbitration and Mediation Services, Inc. as part of a related mass arbitration claim. The parties participated in mediation proceedings on November 15, 2023 and February 9, 2024. The parties agreed to further discuss settlement options in May 2024. As of February 2024, the Company is also a defendant in Randeep Singh Khalsa v. The Children’s Place, Inc. et al., a purported class action, pending in the United States District Court of New Jersey. The complaint purports to assert claims under the federal securities laws, alleging that between March 16, 2023, and February 8, 2024, the Company made materially false and/or misleading statements, and failed to disclose material adverse facts to its investors, which the complaint alleges led to a drop in the price of the Company’s common stock. The Company intends to defend this case vigorously and it is currently too early to assess the possible outcome of this case. 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.

INCOME TAXES (Tables)

12 Months Ended

Feb. 03, 2024

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
	February 3, 2024		January 28, 2023		January 29, 2022
	(in thousands)
Domestic	$	(156,703)	$	(61,065)	$	198,173
Foreign	42,905		46,303		58,857
Total income (loss) before provision (benefit) for income taxes	$	(113,798)	$	(14,762)	$	257,030

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
	February 3, 2024			January 28, 2023			January 29, 2022

	(in thousands)
Current:
Federal	$	(1,239)		$	4,172		$	29,406
State and local	249			(1,193)			7,389
Foreign	4,758			(2,842)			7,218
	3,768			137			44,013
Deferred:
Federal	21,125			(12,030)			14,517
State and local	13,019			(2,712)			8,780
Foreign	2,831			981			2,549
	36,975			(13,761)			25,846
Total provision (benefit) for income taxes	$	40,743		$	(13,624)		$	69,859
Effective tax rate	(35.8)		%	92.3		%	27.2		%

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 2023, Fiscal 2022, and Fiscal 2021 follows:


	Fiscal Years Ended
	February 3, 2024		January 28, 2023		January 29, 2022
	(in thousands)
Calculated income tax provision (benefit) at U.S. federal statutory rate	$	(23,898)	$	(3,100)	$	53,976
State and local income taxes, net of federal benefit	(6,901)		(3,812)		14,394
Foreign tax rate differential (1)	(4,937)		(5,498)		(3,598)
Non-deductible expenses	(1,488)		3,696		7,301
Excess tax detriment (benefit) related to stock compensation	558		816		(293)



Unrecognized tax benefits	3,127		(5,324)		1,050
Change in valuation allowance	68,625		163		358
Global intangible low-taxed income	9,505		1,760		1,476
Federal tax credits	(3,242)		(2,934)		(2,882)

Other	(606)		609		(1,923)
Total provision (benefit) for income taxes	$	40,743	$	(13,624)	$	69,859

____________________________________________

(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 2023, Fiscal 2022, and Fiscal 2021 was 11.6%, 9.8%, and 16.6%, respectively. This rate will fluctuate 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.

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:


	February 3, 2024		January 28, 2023
	(in thousands)









Deferred tax assets:
Operating lease liabilities	$	48,122	$	48,079
Capitalized research and development, net	23,653		17,856
Net operating loss carryforward	13,704		3,453
Reserves	10,167		12,038
Interest expense carryforward	9,980		1,106
Tax credits	6,630		2,727
Inventory	3,333		4,612
Tradenames and customer databases, net	3,304		—
Charitable contributions	1,084		—
Stock-based compensation	924		2,461
Subtotal	120,901		92,332
Less: valuation allowance	(69,898)		(1,273)
Total deferred tax assets	51,003		91,059
Deferred tax liabilities:
Right-of-use assets	(44,844)		(43,576)
Property and equipment, net	(3,149)		(2,407)
Prepaid expenses	(2,038)		(3,704)
Foreign and state tax on unremitted earnings	(1,554)		(1,554)
Tradenames and customer databases, net	—		(3,202)
Total deferred tax liabilities	(51,585)		(54,443)

Total deferred tax assets (liabilities), net	$	(582)	$	36,616

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
	February 3, 2024		January 28, 2023
	(in thousands)
Beginning Balance	$	3,626	$	8,937
Additions for current year tax positions	1,756		750
Additions for prior year tax positions	1,608		261
Reductions for prior year tax positions	—		(6,322)



Ending Balance	$	6,990	$	3,626

EARNINGS (LOSS) PER COMMON SHARE (Details) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Earnings Per Share [Abstract]
Net income (loss)	$ (154,541)	$ (1,138)	$ 187,171
Basic weighted average common shares outstanding (in shares)	12,501	13,041	14,597
Dilutive effect of stock awards (in shares)	0	0	273
Diluted weighted average common shares outstanding (in shares)	12,501	13,041	14,870
Anti-dilutive shares excluded from diluted earnings (loss) per common share calculation (in shares)	114	184	0

- Definition

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

+ References

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-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 32: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
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Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-7

Reference 35: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
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Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
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Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
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Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
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-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

SEGMENT INFORMATION - Segment Reporting (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Segment information [Line Items]
Net sales	$ 1,602,508	$ 1,708,482	$ 1,915,364
Operating income (loss)	$ (83,798)	$ (1,530)	$ 275,648
Operating income (loss) as a percent of net sales	(5.20%)	(0.10%)	14.40%
Depreciation and amortization	$ 47,186	$ 51,464	$ 58,417
Capital expenditures	27,559	45,577	29,307
ASSETS
Total assets	800,308	986,281
Operating Segments \| The Children’s Place U.S. \| U.S
Segment information [Line Items]
Net sales	1,457,352	1,533,934	1,723,887
Operating income (loss)	$ (86,482)	$ (8,781)	$ 253,419
Operating income (loss) as a percent of net sales	(5.90%)	(0.60%)	14.70%
Depreciation and amortization	$ 43,428	$ 47,612	$ 53,984
Capital expenditures	27,462	44,970	28,551
ASSETS
Total assets	758,003	922,120
Operating Segments \| The Children's Place International \| International
Segment information [Line Items]
Net sales	145,156	174,548	191,477
Operating income (loss)	$ 2,684	$ 7,251	$ 22,229
Operating income (loss) as a percent of net sales	1.80%	4.20%	11.60%
Depreciation and amortization	$ 3,758	$ 3,852	$ 4,433
Capital expenditures	97	607	$ 756
ASSETS
Total assets	$ 42,305	$ 64,161

PROPERTY AND EQUIPMENT, NET - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Property, Plant and Equipment [Abstract]
Impairment charges	$ 5,600	$ 3,300	$ 1,500

SEGMENT INFORMATION (Tables)

12 Months Ended

Feb. 03, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting

The following tables provide segment level financial information for Fiscal 2023, Fiscal 2022, and Fiscal 2021:


	Fiscal Years Ended
	February 3, 2024		January 28, 2023		January 29, 2022
	(in thousands)
Net sales:
The Children’s Place U.S.	$	1,457,352	$	1,533,934	$	1,723,887
The Children’s Place International (1)	145,156		174,548		191,477
Total net sales	$	1,602,508	$	1,708,482	$	1,915,364








Operating income (loss):
The Children’s Place U.S.	$	(86,482)	$	(8,781)	$	253,419
The Children’s Place International	2,684		7,251		22,229
Total operating income (loss)	$	(83,798)	$	(1,530)	$	275,648


Operating income (loss) as a percentage of net sales:
The Children’s Place U.S.	(5.9)		%	(0.6)		%	14.7		%
The Children’s Place International	1.8		%	4.2		%	11.6		%
Total operating income (loss) as a percentage of net sales	(5.2)		%	(0.1)		%	14.4		%
Depreciation and amortization:
The Children’s Place U.S.	$	43,428		$	47,612		$	53,984
The Children’s Place International	3,758			3,852			4,433
Total depreciation and amortization	$	47,186		$	51,464		$	58,417
Capital expenditures:
The Children’s Place U.S.	$	27,462		$	44,970		$	28,551
The Children’s Place International	97			607			756
Total capital expenditures	$	27,559		$	45,577		$	29,307

____________________________________________


	February 3, 2024		January 28, 2023
	(in thousands)
Total assets:
The Children’s Place U.S.	$	758,003	$	922,120
The Children’s Place International	42,305		64,161
Total assets	$	800,308	$	986,281

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:


	February 3, 2024		January 28, 2023
	(in thousands)
Long-lived assets (1):
United States	$	334,425	$	377,388
Canada	13,382		9,883
Asia	375		451
Total long-lived assets	$	348,182	$	387,722

____________________________________________

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

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)

12 Months Ended

Feb. 03, 2024

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:


	February 3, 2024		January 28, 2023
	(in thousands)
Prepaid income taxes	$	26,493	$	30,781
Prepaid cloud computing	8,329		6,635
Prepaid insurance	2,679		3,305
Prepaid maintenance contracts	1,843		2,107





Other	3,825		5,047
Total prepaid expenses and other current assets	$	43,169	$	47,875

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Feb. 03, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS As of February 12, 2024, Mithaq had acquired more than 50% of the Company’s outstanding shares of common stock. Mithaq’s acquisition of the Company’s common stock resulted in a change of control of the Company, thereby triggering an event of default under the Credit Agreement. As a result of this event of default, the Company became subject to cash dominion by the Credit Agreement Lenders. On February 29, 2024, the Company and the Credit Agreement Lenders entered into a forbearance agreement, pursuant to which, among other things, the Credit Agreement Lenders agreed to forbear from enforcing certain rights and remedies (other than cash dominion and increasing the interest rate payable on borrowings outstanding under the Credit Agreement to the default interest rate) under the Credit Agreement during a limited forbearance period, and which contemplated a permanent waiver of the change of control default upon the satisfaction of certain conditions. On February 29, 2024, the Company and certain of its subsidiaries also entered into an interest-free unsecured subordinated promissory note with Mithaq, providing for up to $78.6 million in term loans (the “Initial Mithaq Term Loan”). The Company received $30 million on February 29, 2024 and $48.6 million on March 8, 2024. The Initial Mithaq Term Loan matures on February 15, 2027. On April 16, 2024, the Company and certain of its subsidiaries entered into a new financing agreement with Mithaq for a Shariah-compliant unsecured and subordinated $90.0 million term loan (the “New Mithaq Term Loan”). The New Mithaq Term Loan matures on April 16, 2027, and requires monthly payments equivalent to interest charged at the SOFR plus 4.00% per annum, with such monthly payments to Mithaq deferred until April 30, 2025. The Company received the funds from the New Mithaq Term Loan on April 18, 2024 and a portion of those funds were used to repay the Company’s $50 million term loan under the Credit Agreement. On April 16, 2024, the Company and certain of its subsidiaries also entered into a Seventh Amendment to the Credit Agreement with the Credit Agreement Lenders that, among other things, provided a permanent waiver of the change of control event of default. The Seventh Amendment reduced the ABL Credit Facility to $433.0 million and, until the Company achieves certain excess availability thresholds, preserved the temporary enhanced reporting requirements under the Waiver Agreement and continued to impose cash dominion. The Seventh Amendment also modified certain existing requirements to restrict certain payments, including the repurchase of shares and the payment of dividends. On May 2, 2024, the Company entered into a commitment letter with Mithaq for a Shariah-compliant $40.0 million senior unsecured credit facility (the “Mithaq Credit Facility”). Under the Mithaq Credit Facility, the Company may request for advances at any time up to July 1, 2025. If any debt is incurred under the Mithaq Credit Facility, it shall require monthly payments equivalent to interest charged at the SOFR plus 5.000% per annum. Additionally, such debt shall require no mandatory prepayments and shall mature no earlier than July 1, 2025.

SEGMENT INFORMATION - Long-lived Assets (Details) - USD ($) $ in Thousands	Feb. 03, 2024	Jan. 28, 2023
Segment information [Line Items]
Total long-lived assets	$ 348,182	$ 387,722
United States
Segment information [Line Items]
Total long-lived assets	334,425	377,388
Canada
Segment information [Line Items]
Total long-lived assets	13,382	9,883
Asia
Segment information [Line Items]
Total long-lived assets	$ 375	$ 451

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	Mar. 27, 2020	Apr. 30, 2022	Feb. 03, 2024	Jan. 28, 2023	Jan. 30, 2021
Operating Loss Carryforwards [Line Items]
Carryovers and carrybacks to offset	100.00%
Estimated tax loss					$ 150,000
Income tax refunds		$ 22,000
Income taxes receivable			$ 19,100
Operating loss carryforwards			24,500
Valuation allowance increase			68,600
Valuation allowance			69,898	$ 1,273
Unremitted foreign earnings			17,100
Unremitted foreign earnings			255,500
Unrecognized tax benefits			6,500
Decrease in unrecognized tax benefits is reasonably possible			600
Accrued interest and penalties			400	600
Interest, penalties, and reversals thereof, net of taxes amount			300	$ (100)
Alternative Minimum Tax Credit
Operating Loss Carryforwards [Line Items]
Tax credit carryforward, amount			600
Prepaid Income Taxes
Operating Loss Carryforwards [Line Items]
Unremitted foreign earnings			9,500
Prepaid Expenses and Other Current Assets
Operating Loss Carryforwards [Line Items]
Unremitted foreign earnings			7,600
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards			$ 133,300
State and Local Jurisdiction \| Minimum
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards, expiration period			2 years
State and Local Jurisdiction \| Maximum
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards, expiration period			20 years
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards			$ 3,700
Foreign Tax Authority \| Minimum
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards, expiration period			5 years
Foreign Tax Authority \| Maximum
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards, expiration period			20 years

PROPERTY AND EQUIPMENT, NET - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Feb. 03, 2024	Jan. 28, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 804,131	$ 878,004
Less accumulated depreciation and amortization	(679,381)	(728,130)
Property and equipment, net	124,750	149,874
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	36,187	36,187
Material handling equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	90,637	71,404
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	162,898	196,302
Store fixtures and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	173,667	210,413
Capitalized software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	333,953	336,336
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 3,386	$ 23,959

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)	12 Months Ended
	Feb. 03, 2024 USD ($) digital_storefront store country partner segment	Jan. 28, 2023 USD ($)	Jan. 29, 2022 USD ($)	May 03, 2024 USD ($)	May 01, 2024 USD ($)	Nov. 16, 2021 USD ($)
Basis Of Presentation [Line Items]
Number of digital storefronts \| digital_storefront	2
Number of stores \| store	500
Number of countries for distribution \| country	16
Number of international franchise partners \| partner	6
Number of reportable segments \| segment	2
Deficit	$ 134,865,000	$ (22,540,000)
Working capital deficit	$ 164,300,000
Option to extend lease	5 years
Valuation allowance	$ 69,898,000	1,273,000
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	$ 4,832,000	3,954,000
Advertising expense	99,900,000	55,500,000	$ 44,300,000
Prepaid marketing	200,000	1,400,000
Gift Cards
Basis Of Presentation [Line Items]
Contract liabilities	6,800,000	11,100,000
Revenue recognized		9,300,000
Loyalty Program
Basis Of Presentation [Line Items]
Contract liabilities	1,700,000	2,600,000
Mithaq Loans \| Subsequent Event
Basis Of Presentation [Line Items]
Line of credit facility, maximum borrowing capacity				$ 168,600,000
New Term Loan \| Secured Debt
Basis Of Presentation [Line Items]
Debt instrument, face amount						$ 50,000,000
Mithaq Credit Facility \| Subsequent Event
Basis Of Presentation [Line Items]
Line of credit facility, maximum borrowing capacity					$ 40,000,000
Accrued Expenses and Other Current Liabilities
Basis Of Presentation [Line Items]
Deferred revenue	3,100,000	2,900,000
Allowance for estimated sales returns	1,700,000	1,000,000
Accounts Receivable \| Wholesale
Basis Of Presentation [Line Items]
Allowance for estimated sales returns	$ 9,000,000	$ 5,000,000
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	13 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

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

12 Months Ended

Feb. 03, 2024

Payables and Accruals [Abstract]

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities consisted of the following:


	February 3, 2024		January 28, 2023
	(in thousands)
Accrued salaries and benefits	$	19,140	$	16,191
Accrued freight	10,324		4,275
Sales taxes and other taxes payable	7,212		5,643
Customer liabilities	6,817		11,132
Accrued legal costs	6,771		3,880
Accrued real estate expenses	6,366		10,799
Deferred revenue	4,832		3,954
Accrued outside services	4,044		7,235
Accrued insurance	3,786		4,277
Accrued IT costs	2,995		4,676
Accrued marketing	3,177		4,286
Accrued store expenses	2,319		4,230
Accrued professional fees	2,301		2,529
Loyalty points	1,686		2,626
Accrued construction-in-progress	1,045		3,613
Other	6,793		10,312
Total accrued expenses and other current liabilities	$	89,608	$	99,658

DEBT (Tables)

12 Months Ended

Feb. 03, 2024

Debt Disclosure [Abstract]

Schedule of Line of Credit Facilities

The table below presents the components of the Company’s ABL Credit Facility as of the end of Fiscal 2023 and Fiscal 2022:


	February 3, 2024		January 28, 2023
	(in millions)
Total borrowing base availability, net of the excess availability threshold, as applicable	$	258.4	$	363.8
Credit facility maximum, net of the excess availability threshold, as applicable	400.5		315.0
Maximum borrowing availability (1)	258.4		315.0

Outstanding borrowings	226.7		287.0

Letters of credit outstanding—standby	7.4		7.4
Utilization of credit facility at end of period	234.1		294.4

Availability (2)	$	24.3	$	20.6

Interest rate at end of period	8.1%		5.9%


	February 3, 2024		January 28, 2023
	(in millions)
Average end of day loan balance during the period	$	315.5	$	274.9
Highest end of day loan balance during the period	$	379.4	$	297.7

Average interest rate	7.5%		3.7%

____________________________________________

(1)Lower of the credit facility maximum and the total borrowing base availability, both net of the excess availability threshold.

(2)The sub-limit availability for letters of credit was $42.6 million at February 3, 2024, January 28, 2023, and January 29, 2022.

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense, tax benefit	$ 0.3	$ 2.5	$ 2.6
Grant (in shares)	470,805,000
Deferred Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Unvested deferred awards	$ 4.7
Weighted average recognized period	1 year 10 months 24 days
Fair value	$ 4.7	11.4	14.6
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	$ 1.9
Weighted average recognized period	2 years 3 months 18 days
Fair value	$ 11.8	$ 3.0	$ 10.6
Performance Awards \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target shares earned percentage	0.00%		0.00%
Performance Awards \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target shares earned percentage	200.00%		300.00%

INCOME TAXES

12 Months Ended

Feb. 03, 2024

Income Tax Disclosure [Abstract]

INCOME TAXES

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


	Fiscal Years Ended
	February 3, 2024		January 28, 2023		January 29, 2022
	(in thousands)
Domestic	$	(156,703)	$	(61,065)	$	198,173
Foreign	42,905		46,303		58,857
Total income (loss) before provision (benefit) for income taxes	$	(113,798)	$	(14,762)	$	257,030

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


	Fiscal Years Ended
	February 3, 2024			January 28, 2023			January 29, 2022

	(in thousands)
Current:
Federal	$	(1,239)		$	4,172		$	29,406
State and local	249			(1,193)			7,389
Foreign	4,758			(2,842)			7,218
	3,768			137			44,013
Deferred:
Federal	21,125			(12,030)			14,517
State and local	13,019			(2,712)			8,780
Foreign	2,831			981			2,549
	36,975			(13,761)			25,846
Total provision (benefit) for income taxes	$	40,743		$	(13,624)		$	69,859
Effective tax rate	(35.8)		%	92.3		%	27.2		%

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (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 taxable year 2020 tax loss of $150.0 million to prior years. During the first quarter of Fiscal 2022, the Company received $22.0 million of this income tax refund and the remaining balance of $19.1 million as of February 3, 2024 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 2023, Fiscal 2022, and Fiscal 2021 follows:


	Fiscal Years Ended
	February 3, 2024		January 28, 2023		January 29, 2022
	(in thousands)
Calculated income tax provision (benefit) at U.S. federal statutory rate	$	(23,898)	$	(3,100)	$	53,976
State and local income taxes, net of federal benefit	(6,901)		(3,812)		14,394
Foreign tax rate differential (1)	(4,937)		(5,498)		(3,598)
Non-deductible expenses	(1,488)		3,696		7,301
Excess tax detriment (benefit) related to stock compensation	558		816		(293)



Unrecognized tax benefits	3,127		(5,324)		1,050
Change in valuation allowance	68,625		163		358
Global intangible low-taxed income	9,505		1,760		1,476
Federal tax credits	(3,242)		(2,934)		(2,882)

Other	(606)		609		(1,923)
Total provision (benefit) for income taxes	$	40,743	$	(13,624)	$	69,859

____________________________________________

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 not more likely than not that future taxable income will be sufficient to allow it to recover substantially all of the value assigned to the Company’s deferred tax assets. Thus, in the fourth quarter of Fiscal 2023, the Company increased its valuation allowance accordingly.

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


	February 3, 2024		January 28, 2023
	(in thousands)









Deferred tax assets:
Operating lease liabilities	$	48,122	$	48,079
Capitalized research and development, net	23,653		17,856
Net operating loss carryforward	13,704		3,453
Reserves	10,167		12,038
Interest expense carryforward	9,980		1,106
Tax credits	6,630		2,727
Inventory	3,333		4,612
Tradenames and customer databases, net	3,304		—
Charitable contributions	1,084		—
Stock-based compensation	924		2,461
Subtotal	120,901		92,332
Less: valuation allowance	(69,898)		(1,273)
Total deferred tax assets	51,003		91,059
Deferred tax liabilities:
Right-of-use assets	(44,844)		(43,576)
Property and equipment, net	(3,149)		(2,407)
Prepaid expenses	(2,038)		(3,704)
Foreign and state tax on unremitted earnings	(1,554)		(1,554)
Tradenames and customer databases, net	—		(3,202)
Total deferred tax liabilities	(51,585)		(54,443)

Total deferred tax assets (liabilities), net	$	(582)	$	36,616

The Company has gross federal NOL carryforwards of approximately $24.5 million which do not expire, state NOL carryforwards of approximately $133.3 million which either expire between two and twenty years, or carryforward indefinitely, and foreign NOL carryforwards of approximately $3.7 million which expire between five and twenty years. The Company also has an Alternative Minimum Tax credit (“AMT”) in Puerto Rico of approximately $0.6 million.

The Company has concluded that it is not more likely than not that its deferred tax assets, including NOLs, can be utilized in the foreseeable future. Thus, the Company’s valuation allowance increased $68.6 million to $69.9 million in Fiscal 2023, primarily related to deferred tax assets in the U.S, compared to $1.3 million in Fiscal 2022. However, to the extent that tax benefits related to these deferred tax assets are realized in the future, the reduction of the valuation allowance will reduce income tax expense accordingly.

As discussed in “Note 18. Subsequent Events” of the Consolidated Financial Statements, “Item 8. Financial Statements and Supplementary Data” of this Form 10-K, subsequent to the end of Fiscal 2023, there was a change of control of the Company. This change of control constitutes an “ownership change” under Internal Revenue Code Section 382, where the Company will be subject to an annual limitation on its ability to utilize its existing NOLs and tax credits as of the ownership change date to offset future taxable income. The application of such limitation may cause U.S. federal income taxes to be paid by the Company earlier than they otherwise would be paid if such limitation was not in effect, which would adversely affect the Company’s operating results and cash flows if it has taxable income in the future. In addition to the aforementioned federal income tax implications pursuant to Section 382 of the Code, most U.S. states follow the general provision of Section 382 of the Code, either explicitly or implicitly resulting in separate state NOL limitations. This could cause state income taxes to be paid earlier than otherwise would be paid if such limitation was not in effect and could cause such NOLs to expire unused.

On December 22, 2017, the U.S. government passed the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act is a comprehensive tax legislation that implements 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 requires U.S. companies to pay a mandatory one-time transition tax on historical offshore earnings that have not been repatriated to the U.S. The remaining unpaid transition tax, which had begun to be repaid in Fiscal 2023, amounted to $17.1 million at February 3, 2024. This balance is shown as $9.5 million as long-term Income taxes payable and $7.6 million is shown net in Prepaid expenses and other current assets on the Consolidated Balance Sheet as of February 3, 2024.

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 $255.5 million at February 3, 2024.

Unrecognized 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
	February 3, 2024		January 28, 2023
	(in thousands)
Beginning Balance	$	3,626	$	8,937
Additions for current year tax positions	1,756		750
Additions for prior year tax positions	1,608		261
Reductions for prior year tax positions	—		(6,322)



Ending Balance	$	6,990	$	3,626

Unrecognized tax benefits of $6.5 million, excluding accrued interest and penalties, at February 3, 2024 would affect the Company’s effective tax rate in future periods, if recognized. The Company believes that it is reasonably possible that the total amount of unrecognized tax benefits as of February 3, 2024 could decrease by up to $0.6 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 February 3, 2024 and January 28, 2023, accrued interest and penalties of $0.6 million and $0.4 million, respectively, were included in unrecognized tax benefits. Interest, penalties, and reversals thereof, net of taxes, amounted to an expense of $0.3 million in Fiscal 2023 and a benefit of $(0.1) million in Fiscal 2022.

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 2015 and prior.

The IRS is currently conducting an examination of the Company’s tax return for Fiscal 2020 in conjunction with its review of the CARES Act NOL carryback to fiscal year 2015 through fiscal year 2019. The Company believes that its reserves for uncertain tax positions are adequate to cover existing risks or exposures.

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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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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-Subparagraph (b)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Paragraph 2
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

RESTRUCTURING - Narrative (Details) $ in Thousands	3 Months Ended	12 Months Ended
RESTRUCTURING - Narrative (Details) $ in Thousands	Jul. 29, 2023	Feb. 03, 2024 USD ($) renewal_options	Jan. 28, 2023 USD ($)
Restructuring and Related Activities [Abstract]
Number of renewal options \| renewal_options		2
Option to extend lease		5 years
Positions eliminated percentage	20.00%
Restructuring charges \| $		$ 11,808	$ 0

INCOME TAXES - Unrecognized Tax Benefits, Excluding Accrued Interest and Penalties (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning Balance	$ 3,626	$ 8,937
Additions for current year tax positions	1,756	750
Additions for prior year tax positions	1,608	261
Reductions for prior year tax positions	0	(6,322)
Ending Balance	$ 6,990	$ 3,626

STOCKHOLDERS' EQUITY (DEFICIT) (Tables)

12 Months Ended

Feb. 03, 2024

Stockholders' Equity Note [Abstract]

Schedule of Shares Repurchases

The following table summarizes the Company’s share repurchases:


	Fiscal Years Ended
	February 3, 2024		January 28, 2023		January 29, 2022
	Shares	Amount	Shares	Amount	Shares	Amount
	(in thousands)
Share repurchases related to:
Share repurchase program	210	7,131	1,953	92,945	1,025	85,648
Shares acquired and held in treasury	8	245	6	293	4	278

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (154,541)	$ (1,138)	$ 187,171
Reconciliation of net income (loss) to net cash provided by (used in) operating activities:
Non-cash portion of operating lease expense	83,591	88,936	100,564
Depreciation and amortization	47,186	51,464	58,417
Non-cash stock-based compensation expense (benefit), net	(5,576)	29,150	30,942
Asset impairment charges	34,543	3,256	1,506
Deferred income tax provision (benefit)	36,975	(13,675)	25,846
Loss on extinguishment of debt	0	0	3,679
Other non-cash charges, net	729	601	1,387
Changes in operating assets and liabilities:
Inventories	85,307	(20,741)	(40,870)
Accounts receivable and other assets	21,305	(28,143)	16,200
Prepaid expenses and other current assets	1,855	10,440	(7,191)
Income taxes payable, net of prepayments	(2,199)	14,690	(5,982)
Accounts payable and other current liabilities	39,955	(41,734)	(58,334)
Lease liabilities	(93,396)	(102,522)	(172,454)
Other long-term liabilities	(2,934)	1,198	(7,605)
Net cash provided by (used in) operating activities	92,800	(8,218)	133,276
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(27,559)	(45,577)	(29,307)
Change in deferred compensation plan	(231)	(371)	17
Net cash used in investing activities	(27,790)	(45,948)	(29,290)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under revolving credit facility	579,655	713,718	758,681
Repayments under revolving credit facility	(639,931)	(602,046)	(753,140)
Proceeds from issuance of term loan, net of discount	0	0	50,000
Repayment of term loan	0	0	(81,840)
Payment of debt issuance costs	(861)	0	(2,468)
Purchase and retirement of common stock, including shares surrendered for tax withholdings and transaction costs	(7,131)	(94,616)	(83,974)
Net cash provided by (used in) financing activities	(68,268)	17,056	(112,741)
Effect of exchange rate changes on cash and cash equivalents	208	(988)	(6)
Net decrease in cash and cash equivalents	(3,050)	(38,098)	(8,761)
Cash and cash equivalents, beginning of period	16,689	54,787	63,548
Cash and cash equivalents, end of period	13,639	16,689	54,787
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Net cash paid (received) for income taxes	5,775	(14,969)	49,563
Cash paid for interest	29,038	12,354	14,774
Purchases of property and equipment not yet paid	$ 7,156	$ 9,801	$ 8,447

FAIR VALUE MEASUREMENT - Narrative (Details) - USD ($)	12 Months Ended
FAIR VALUE MEASUREMENT - Narrative (Details) - USD ($)	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Fair Value Disclosures [Abstract]
Impairment charges	$ 5,600,000	$ 3,300,000	$ 1,500,000
Impairment of intangible assets	29,000,000
Gymboree tradename
Fair Value Disclosures [Abstract]
Impairment of intangible assets	29,000,000	0	$ 0
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 41,000,000	$ 69,953,000

INCOME TAXES - Provision For Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Current:
Federal	$ (1,239)	$ 4,172	$ 29,406
State and local	249	(1,193)	7,389
Foreign	4,758	(2,842)	7,218
Total current income taxes	3,768	137	44,013
Deferred:
Federal	21,125	(12,030)	14,517
State and local	13,019	(2,712)	8,780
Foreign	2,831	981	2,549
Total deferred income taxes	36,975	(13,761)	25,846
Total provision (benefit) for income taxes	$ 40,743	$ (13,624)	$ 69,859
Effective tax rate	(35.80%)	92.30%	27.20%

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Feb. 03, 2024	Jan. 28, 2023
Payables and Accruals [Abstract]
Accrued salaries and benefits	$ 19,140	$ 16,191
Accrued freight	10,324	4,275
Sales taxes and other taxes payable	7,212	5,643
Customer liabilities	6,817	11,132
Accrued legal costs	6,771	3,880
Accrued real estate expenses	6,366	10,799
Deferred revenue	4,832	3,954
Accrued outside services	4,044	7,235
Accrued insurance	3,786	4,277
Accrued IT costs	2,995	4,676
Accrued marketing	3,177	4,286
Accrued store expenses	2,319	4,230
Accrued professional fees	2,301	2,529
Loyalty points	1,686	2,626
Accrued construction-in-progress	1,045	3,613
Other	6,793	10,312
Total accrued expenses and other current liabilities	$ 89,608	$ 99,658

STOCKHOLDERS' EQUITY (DEFICIT) - Narrative (Details) - USD ($)	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022	Mar. 31, 2018
STOCKHOLDERS' EQUITY
Stock repurchased and retired during period, value	$ 7,131,000	$ 92,945,000	$ 85,648,000
Retained Earnings
STOCKHOLDERS' EQUITY
Stock repurchased and retired during period, value	2,864,000	$ 54,236,000	$ 66,467,000
2018 Share Repurchase Program
STOCKHOLDERS' EQUITY
Stock repurchase program, authorized amount				$ 250,000,000
Stock repurchase program, remaining authorized repurchase amount	$ 157,200,000

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net income (loss)	$ (154,541)	$ (1,138)	$ 187,171
Other comprehensive loss:
Foreign currency translation adjustment	(249)	(2,061)	(370)
Total comprehensive income (loss)	$ (154,790)	$ (3,199)	$ 186,801

- Definition

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

+ References

+ Details

PREPAID EXPENSES AND OTHER CURRENT ASSETS - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Feb. 03, 2024	Jan. 28, 2023
Prepaid Expenses and Other Current Assets [Abstract]
Prepaid income taxes	$ 26,493	$ 30,781
Prepaid cloud computing	8,329	6,635
Prepaid insurance	2,679	3,305
Prepaid maintenance contracts	1,843	2,107
Other	3,825	5,047
Total prepaid expenses and other current assets	$ 43,169	$ 47,875

RETIREMENT AND SAVINGS PLANS	12 Months Ended
RETIREMENT AND SAVINGS PLANS	Feb. 03, 2024
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. The Company’s matching contributions were $4.0 million in Fiscal 2023, $4.5 million in Fiscal 2022, and $3.5 million in Fiscal 2021. Deferred Compensation Plan The Deferred Compensation Plan liability, excluding Company stock, was $1.2 million and $1.3 million at February 3, 2024 and January 28, 2023, respectively. The value of the assets held in the rabbi trust was $1.2 million and $1.3 million at February 3, 2024 and January 28, 2023, respectively. The cost of the Company’s stock repurchased was $2.9 million and $3.7 million at February 3, 2024 and January 28, 2023, 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, $0.6 million, and $0.6 million in Fiscal 2023, Fiscal 2022, and Fiscal 2021, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
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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 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

STOCKHOLDERS' EQUITY (DEFICIT) - Share Repurchases (Details) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Stockholders' Equity Note [Abstract]
Share repurchase program (in shares)	210	1,953	1,025
Share repurchase program	$ 7,131	$ 92,945	$ 85,648
Shares acquired and held in treasury (in shares)	8	6	4
Shares acquired and held in treasury	$ 245	$ 293	$ 278

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Income Statement [Abstract]
Net sales	$ 1,602,508	$ 1,708,482	$ 1,915,364
Cost of sales (exclusive of depreciation and amortization)	1,157,234	1,194,320	1,120,624
Gross profit	445,274	514,162	794,740
Selling, general, and administrative expenses	447,343	460,972	459,169
Depreciation and amortization	47,186	51,464	58,417
Asset impairment charges	34,543	3,256	1,506
Operating income (loss)	(83,798)	(1,530)	275,648
Interest expense	(30,087)	(13,324)	(18,634)
Interest income	87	92	16
Income (loss) before provision (benefit) for income taxes	(113,798)	(14,762)	257,030
Provision (benefit) for income taxes	40,743	(13,624)	69,859
Net income (loss)	$ (154,541)	$ (1,138)	$ 187,171
Earnings (loss) per common share
Basic (in usd per share)	$ (12.36)	$ (0.09)	$ 12.82
Diluted (in usd per share)	$ (12.36)	$ (0.09)	$ 12.59
Weighted average common shares outstanding
Basic (in shares)	12,501	13,041	14,597
Diluted (in shares)	12,501	13,041	14,870

RESTRUCTURING - Restructuring Charges (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Feb. 03, 2024	Feb. 03, 2024	Jan. 28, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 11,808	$ 0
Employee-related costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges		7,382	0
Lease termination costs
Restructuring Cost and Reserve [Line Items]
Restructuring charges		4,158	0
Non-cash charges to accelerate depreciation	$ 1,800
Professional fees
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 268	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

RESTRUCTURING

12 Months Ended

Feb. 03, 2024

Restructuring and Related Activities [Abstract]

RESTRUCTURING

In support of the Company’s ongoing structural transformation from a legacy store operating model to a digital-first retailer, during the second quarter of Fiscal 2023, the Company voluntarily entered into an early termination of its corporate office lease and implemented a workforce reduction.

The Company proactively accelerated the termination of its corporate office lease to capitalize on the prevailing tenant-favorable market conditions and subsequently executed an amendment to its corporate office lease in January 2024 with its current landlord at more favorable rates. The amended lease will expire in May 2037, with a termination right after the seventh year, and two five-year renewal options at fair market value. The Company expects to reduce its square footage at its corporate office in May 2024 when its current lease expires.

The Company also implemented a plan that encompassed multiple headcount reductions, which accounted for approximately 20% of its salaried workforce, the substantial majority of whom were located at the Company’s corporate offices in Secaucus, New Jersey, with the balance at other domestic and international locations. The associated workforce reduction was substantially completed as of the end of the first quarter of Fiscal 2024.

In addition, the lease for the Company’s distribution center in Toronto, Canada (“TODC”) expired in April 2024. The Company moved these operations to the United States to its current distribution center in Alabama as of the end of the first quarter of Fiscal 2024.


	Fiscal Years Ended
	February 3, 2024		January 28, 2023
	(in thousands)
Employee-related costs	$	7,382	$	—
Lease termination costs (1)	4,158		—
Professional fees	268		—
Total restructuring costs (2)	$	11,808	$	—

___________________________________________

(1)Includes non-cash charges related to accelerated depreciation on certain assets in the corporate office over the reduced term, amounting to $1.8 million during Fiscal 2023.



	Employee-Related Costs		Lease Termination Costs		Professional Fees		Total
	(in thousands)
Balance at April 29, 2023	$	—	$	—	$	—	$	—
Provision	5,433		4,040		186		9,659
Cash Payments	(2,602)		(4,040)		—		(6,642)
Balance at July 29, 2023	2,831		—		186		3,017
Provision	674		—		82		756
Cash Payments	(2,652)		—		(268)		(2,920)
Balance at October 28, 2023	853		—		—		853
Provision	1,275		—		—		1,275
Cash Payments	(462)		—		—		(462)
Balance at February 3, 2024	$	1,666	$	—	$	—	$	1,666

LEASES

12 Months Ended

Feb. 03, 2024

Leases [Abstract]

LEASES

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


	Fiscal Years Ended
	February 3, 2024		January 28, 2023		January 29, 2022
	(in thousands)
Fixed operating lease cost	$	91,066	$	99,988	$	113,681
Variable operating lease cost (1)	44,195		51,905		39,711
Total operating lease cost	$	135,261	$	151,893	$	153,392

____________________________________________

(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 in Fiscal 2022 and Fiscal 2021 of $1.5 million and $12.1 million, respectively.

As of February 3, 2024, the weighted-average remaining operating lease term was 4.2 years, and the weighted-average discount rate for operating leases was 7.1%. Cash paid for amounts included in the measurement of operating lease liabilities in Fiscal 2023 was $93.4 million. ROU assets obtained in exchange for new operating lease liabilities were $120.5 million in Fiscal 2023.

As of February 3, 2024, the maturities of operating lease liabilities were as follows:


	February 3, 2024
	(in thousands)
2024	$	79,480
2025	50,582
2026	28,096
2027	15,252
2028	13,257
Thereafter	40,605
Total operating lease payments	227,272
Less: imputed interest	(39,964)
Present value of operating lease liabilities	$	187,308

INTANGIBLE ASSETS - Narrative (Details) - USD ($)	12 Months Ended
INTANGIBLE ASSETS - Narrative (Details) - USD ($)	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Indefinite-lived Intangible Assets [Line Items]
Impairment of intangible assets	$ 29,000,000
Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill), Statement of Income or Comprehensive Income [Extensible Enumeration]	Asset impairment charges
Gymboree tradename
Indefinite-lived Intangible Assets [Line Items]
Impairment of intangible assets	$ 29,000,000	$ 0	$ 0
Indefinite-lived intangible assets	$ 41,000,000	$ 69,953,000

INTANGIBLE ASSETS - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Feb. 03, 2024	Jan. 28, 2023
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (3,877)	$ (6,062)
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Total intangibles, net, Gross amount	45,000	76,953
Total intangibles, net, Accumulated amortization	(3,877)	(6,062)
Tradenames, net	41,123	70,891
Crazy 8 tradename
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 41,000	$ 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	(3,877)	(3,062)
Net Amount	123	938
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Total intangibles, net, Accumulated amortization	$ (3,877)	$ (3,062)
Customer databases
Finite-Lived Intangible Assets [Line Items]
Useful Life		3 years
Gross Amount		$ 3,000
Accumulated Amortization		(3,000)
Net Amount		0
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Total intangibles, net, Accumulated amortization		$ (3,000)

DEBT - Components (Details) - USD ($)	12 Months Ended
DEBT - Components (Details) - USD ($)	Feb. 03, 2024	Jan. 28, 2023	Jun. 05, 2023	Jan. 29, 2022	Nov. 16, 2021
Line of Credit Facility [Line Items]
Average end of day loan balance during the period	$ 315,500,000	$ 274,900,000
Highest end of day loan balance during the period	$ 379,400,000	$ 297,700,000
Average interest rate	7.50%	3.70%
ABL Credit Facility and Previous ABL Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 258,400,000	$ 315,000,000.0
Outstanding borrowings	226,700,000	287,000,000.0
Utilization of credit facility at end of period	234,100,000	294,400,000
Availability	$ 24,300,000	$ 20,600,000
Interest rate at end of period	8.10%	5.90%
Revolving Credit Facility \| ABL Credit Facility and Previous ABL Credit Facility
Line of Credit Facility [Line Items]
Total borrowing base availability, net of the excess availability threshold, as applicable	$ 258,400,000	$ 363,800,000
Credit facility maximum, net of the excess availability threshold, as applicable	400,500,000	315,000,000.0
Revolving Credit Facility \| ABL Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 445,000,000		$ 350,000,000
Standby Letters of Credit \| ABL Credit Facility and Previous ABL Credit Facility
Line of Credit Facility [Line Items]
Letters of credit outstanding—standby	7,400,000	7,400,000
Sublimit Letter Of Credit \| ABL Credit Facility
Line of Credit Facility [Line Items]
Availability	$ 42,600,000	$ 42,600,000		$ 42,600,000

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Feb. 03, 2024
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 2023 was a 53-week year, Fiscal 2022 and 2021 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 February 3, 2024 and January 28, 2023, 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 prior period financial statements disclosures have been conformed 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, impairment of indefinite-lived intangible assets, income taxes, stock-based compensation, and inventory valuation.
Cash and Cash Equivalents	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 Accounts receivable consists of credit and debit card receivables, wholesale and franchisee 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. Wholesale and franchisee 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 based upon the historical results of physical inventory counts in the context of current year facts and circumstances.
Deferred Financing Costs	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 deferred financing costs for the term loan are recorded in Long-term debt. These costs 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 an indefinite life consists of the acquired Gymboree tradename, which is 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 this intangible asset 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 (“ROU”) 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 inflationary pressures impacting our customer, and changes in product input costs, transporting costs, distribution costs and wage rates. 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. In addition, the Company utilizes market-corroborated inputs, including sales per square foot and cost of occupancy rates, in its calculation of the fair value of its ROU assets and any necessary discounting required for rent rates based on macroeconomic conditions or local mall conditions.
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 13 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 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 ROU 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.
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Accumulated other comprehensive loss primarily consists of cumulative translation adjustments.
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 (deficit). 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 (deficit) 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 some 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. The assumptions utilized in determining future taxable income require significant judgment. Actual operating results in future years could differ from current assumptions, judgments and estimates. If the Company determines that it would not be able to realize its 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. The Company recognizes accrued interest and penalties for its unrecognized tax benefits as a component of tax expense. The Company accounts for the tax effects of the tax on global intangible low-taxed income (“GILTI”) of certain foreign subsidiaries in the income tax provision in the period the tax arises.
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, and they 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 Deferred Compensation Plan does not allow for the deferral of the Company’s common stock by employee participants. 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 year 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 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 (deficit). The Company also transacts certain business in foreign denominated currencies primarily with its Canadian subsidiary purchasing inventory in U.S. dollars, and there are intercompany charges between various subsidiaries.
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 $3.1 million and $2.9 million within Accrued expenses and other current liabilities as of February 3, 2024 and January 28, 2023, 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 its wholesale business, the Company recognizes revenue, including shipping and handling fees billed to customers, when title of the goods passes to the customer, net of commissions, discounts, operational chargebacks, and cooperative advertising. The allowance for wholesale revenue included within Accounts receivable was $9.0 million and $5.0 million as of February 3, 2024 and January 28, 2023, respectively. For the sale of goods to retail customers 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 $1.7 million and $1.0 million as of February 3, 2024 and January 28, 2023, respectively. 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 and www.gymboree.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 and promoting the program on behalf of the bank and the operation of the loyalty rewards program. Included in the agreement with the third-party financial institution was an upfront bonus paid to the Company and an additional bonus to extend the term of the agreement. These bonuses are 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 term of the agreement. 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 private label credit card 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 recognized quarterly within an annual period when it can be estimated reliably. 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 $1.7 million and $2.6 million as of February 3, 2024 and January 28, 2023, 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 gift card liability balance was $6.8 million and $11.1 million as of February 3, 2024 and January 28, 2023, respectively. During Fiscal 2023, the Company recognized Net sales of $9.3 million related to the gift card liability balance that existed at January 28, 2023. 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 its 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 (benefit) 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 Costs The Company defers costs associated with the production of advertising until the first time the advertising takes place. Costs associated with communicating advertising that has been produced are expensed when the advertising event takes place. Advertising and other marketing costs are recorded in Selling, general, and administrative expenses
Earnings (Loss) per Common Share	Earnings (Loss) per Common Share The Company reports its earnings (loss) 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 Deferred Awards and Performance Awards (as both terms are used in “Note 12. Stock-Based Compensation” of the Consolidated Financial Statements, “Item 8. Financial Statements and Supplementary Data” of this Form 10-K), 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	Recent Accounting Standards Updates In November 2023, the FASB issued Accounting Standards Update No. 2023-07 “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” (“ASU 2023-07”). The amendments in ASU 2023-07 are designed to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses during interim and annuals periods. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of this update on its consolidated financial statements. In December 2023, the FASB issued Accounting Standards Update No. 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures,” (“ASU 2023-09”). The amendments in ASU 2023-09 are designed to enhance the transparency of income tax disclosures by requiring consistent categories and greater disaggregation of information in the rate reconciliation, and income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of this update on its consolidated financial statements.

LEASES - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
LEASES - Lease Cost (Details) - USD ($) $ in Thousands	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Leases [Abstract]
Fixed operating lease cost	$ 91,066	$ 99,988	$ 113,681
Variable lease cost	44,195	51,905	39,711
Total operating lease cost	$ 135,261	151,893	153,392
Reduction of lease cost, lease abatement		$ 1,500	$ 12,100

EARNINGS (LOSS) PER COMMON SHARE

12 Months Ended

Feb. 03, 2024

Earnings Per Share [Abstract]

EARNINGS (LOSS) PER COMMON SHARE

The following table reconciles net income (loss) and share amounts utilized to calculate basic and diluted earnings (loss) per common share:


	Fiscal Years Ended
	February 3, 2024		January 28, 2023		January 29, 2022



	(in thousands)
Net income (loss)	$	(154,541)	$	(1,138)	$	187,171

Basic weighted average common shares outstanding	12,501		13,041		14,597
Dilutive effect of stock awards	—		—		273
Diluted weighted average common shares outstanding	12,501		13,041		14,870

Anti-dilutive shares excluded from diluted earnings (loss) per common share calculation	114		184		—

RESTRUCTURING - Restructuring Reserves (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 03, 2024	Oct. 28, 2023	Jul. 29, 2023
Restructuring Reserve [Roll Forward]
Beginning balance	$ 853	$ 3,017	$ 0
Provision	1,275	756	9,659
Cash payments	(462)	(2,920)	(6,642)
Ending balance	1,666	853	3,017
Employee-related costs
Restructuring Reserve [Roll Forward]
Beginning balance	853	2,831	0
Provision	1,275	674	5,433
Cash payments	(462)	(2,652)	(2,602)
Ending balance	1,666	853	2,831
Lease termination costs
Restructuring Reserve [Roll Forward]
Beginning balance	0	0	0
Provision	0	0	4,040
Cash payments	0	0	(4,040)
Ending balance	0	0	0
Professional fees
Restructuring Reserve [Roll Forward]
Beginning balance	0	186	0
Provision	0	82	186
Cash payments	0	(268)	0
Ending balance	$ 0	$ 0	$ 186

DEBT

12 Months Ended

Feb. 03, 2024

Debt Disclosure [Abstract]

DEBT

On November 16, 2021, the Company completed the refinancing of its previous $360.0 million asset-based revolving 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 our credit agreement, dated as of May 9, 2019 (as amended from time to time, the “Credit Agreement”), with the lenders party thereto (collectively, the “Credit Agreement Lenders”). The refinanced debt consisted of a $350.0 million asset-based revolving credit facility (the “ABL Credit Facility”) and a $50.0 million term loan (the “Term Loan”).

On June 5, 2023, the Company entered into a fifth amendment to its Credit Agreement, pursuant to which, among other things, (i) PNC Bank, National Association (“PNC Bank”) was added as a new lender, (ii) the ABL Credit Facility was increased to $445.0 million, (iii) the London InterBank Offered Rate (“LIBOR”) was replaced by the Secured Overnight Financing Rate (“SOFR”) as the interest rate benchmark, and (iv) the pricing grid for applicable margins on borrowings was updated. All other material terms and conditions of the Credit Agreement remained unchanged.

The Company became aware of an inadvertent calculation error contained in the June, July and August 2023 borrowing base certificates provided to the Credit Agreement Lenders under its Credit Agreement, all of which have since been remedied. While the Credit Agreement Lenders determined the calculation error resulted in certain technical defaults under the Credit Agreement (including the Company not being in compliance with certain debt covenants), the Company and the Credit Agreement Lenders entered into a Waiver and Amendment Agreement (the “Waiver Agreement”) on October 24, 2023, pursuant to which the Credit Agreement Lenders waived all of the defaults and the Company agreed to certain temporary enhanced reporting requirements and temporary restrictions on certain payments. These enhanced reporting requirements and restrictions will cease once the Company achieves certain excess availability thresholds. At no time prior to or following entering into the Waiver Agreement was the Company prevented from borrowing under the Credit Agreement in the ordinary course in accordance with its terms.

During the first quarter of Fiscal 2024, Mithaq became a controlling shareholder of the Company and this change of control triggered an event of default under the Credit Agreement, thus subjecting the Company to cash dominion by the Credit Agreement Lenders. Subsequently, the Credit Agreement Lenders agreed to forbear from enforcing certain other rights and remedies during a limited forbearance period. The Company then entered into financing agreements with Mithaq for an initial $78.6 million term loan, and subsequently, a separate $90.0 million term loan. On April 16, 2024, the Company and certain of its subsidiaries entered into a seventh amendment to the Credit Agreement (the “Seventh Amendment”) with the Credit Agreement Lenders that, among other things, provided a permanent waiver of the change of control event of default. As of the effective date of the Seventh Amendment, the ABL Credit Facility was reduced to $433.0 million and the Term Loan was fully repaid, and until the Company achieves certain excess availability thresholds, the Seventh Amendment preserved the temporary enhanced reporting requirements under the Waiver Agreement and continued to impose cash dominion. On May 2, 2024, the Company entered into a commitment letter with Mithaq for a Shariah-compliant $40.0 million senior unsecured credit facility. See “Note 18. Subsequent Events” of the Consolidated Financial Statements, “Item 8. Financial Statements and Supplementary Data” of this Form 10-K for further information.

ABL Credit Facility and Term Loan

As of February 3, 2024, the Company and certain of its subsidiaries maintained the $445.0 million ABL Credit Facility and the $50.0 million Term Loan with Wells Fargo, Truist Bank, Bank of America, N.A., HSBC Business Credit (USA) Inc., JPMorgan Chase Bank, N.A., and PNC Bank as lenders, and Wells Fargo, as Administrative Agent, Collateral Agent, Swing Line Lender and Term Agent. Both the ABL Credit Facility and the Term Loan would mature in November 2026.

The ABL Credit Facility included a $25.0 million Canadian sublimit and a $50.0 million sublimit for standby and documentary letters of credit.

Under the ABL Credit Facility, based on the amount of the Company’s average daily excess availability under the facility, borrowings outstanding bore interest, at the Company’s option, at:

(i)the prime rate per annum, plus a margin of 1.250% or 1.500%; or

(ii)the SOFR per annum, plus a margin of 2.000% or 2.250%.

The Company was charged a fee of 0.200% on the unused portion of the commitments. Letter of credit fees ranged from 1.000% to 1.125% for commercial letters of credit and ranged from 1.500% to 1.750% for standby letters of credit. Letter of credit fees were determined based on the amount of the Company’s average daily excess availability under the facility. The amount available for loans and letters of credit under the ABL Credit Facility was 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.

Once the Company achieves a consolidated EBITDA of at least $200.0 million across four consecutive fiscal quarters, and based on the amount of the Company’s average daily excess availability under the facility, borrowings outstanding under the ABL Credit Facility would bear interest, at the Company’s option, at:

(i)the prime rate per annum, plus a margin of 0.625% or 0.875%; or

(ii)the SOFR per annum, plus a margin of 1.375% or 1.625%.

Letter of credit fees would range from 0.688% to 0.813% for commercial letters of credit and would range from 0.8750% to 1.125% for standby letters of credit. Letter of credit fees are determined based on the amount of the Company’s average daily excess availability under the facility.

For Fiscal 2023, Fiscal 2022, and Fiscal 2021, the Company recognized $24.2 million, $10.2 million, and $7.0 million, respectively, in interest expense related to the ABL Credit Facility.

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 was not subject to any early termination fees.

The ABL Credit Facility contained covenants, which include conditions on stock buybacks and the payment of cash dividends or similar payments, and a fixed-charge coverage ratio covenant, which only would become effective in the event that borrowings and other uses of credit exceeded the maximum borrowing availability (as reflected in the table below), based on the Company’s ability to maintain a certain amount of excess availability for borrowings (the “excess availability threshold”). These covenants also limited 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 was 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 as of the end of Fiscal 2023 and Fiscal 2022:


	February 3, 2024		January 28, 2023
	(in millions)
Total borrowing base availability, net of the excess availability threshold, as applicable	$	258.4	$	363.8
Credit facility maximum, net of the excess availability threshold, as applicable	400.5		315.0
Maximum borrowing availability (1)	258.4		315.0

Outstanding borrowings	226.7		287.0

Letters of credit outstanding—standby	7.4		7.4
Utilization of credit facility at end of period	234.1		294.4

Availability (2)	$	24.3	$	20.6

Interest rate at end of period	8.1%		5.9%


	February 3, 2024		January 28, 2023
	(in millions)
Average end of day loan balance during the period	$	315.5	$	274.9
Highest end of day loan balance during the period	$	379.4	$	297.7

Average interest rate	7.5%		3.7%

____________________________________________

(1)Lower of the credit facility maximum and the total borrowing base availability, both net of the excess availability threshold.

(2)The sub-limit availability for letters of credit was $42.6 million at February 3, 2024, January 28, 2023, and January 29, 2022.

The Term Loan bore interest, payable monthly, at (a) the SOFR per annum plus 2.750% for any portion that was a SOFR loan, or (b) the base rate per annum plus 2.000% for any portion that was a base rate loan. The Term Loan was pre-payable at any time without penalty, and did not require amortization. For Fiscal 2023, Fiscal 2022, and Fiscal 2021, the Company recognized $4.0 million, $2.3 million, and $5.9 million respectively, in interest expense related to the Term Loan.

The Term Loan was 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 was guaranteed by each of the Company’s subsidiaries that guaranteed the ABL Credit Facility and contained substantially the same covenants as provided in the ABL Credit Facility.

Both the ABL Credit Facility and the Term Loan contained customary events of default, which included (subject in certain cases to customary grace and cure periods) nonpayment of principal or interest, breach of covenants, failure to pay certain other indebtedness, and certain events of bankruptcy, insolvency or reorganization, such as a change of control. As of February 3, 2024 and January 28, 2023, unamortized deferred financing costs amounted to $2.4 million and $2.3 million, of which $2.2 million and $2.0 million related to the Company's ABL Credit Facility.

As described above, during the first quarter of Fiscal 2024, the Company entered into financing agreements with its new majority shareholder, Mithaq, and on April 16, 2024, among other things, the Company and certain of its subsidiaries entered into a Seventh Amendment to the Credit Agreement with the Credit Agreement Lenders. As of the effective date of the Seventh Amendment, the ABL Credit Facility was reduced to $433.0 million and the Term Loan was fully repaid. See “Note 18. Subsequent Events” of the Consolidated Financial Statements, “Item 8. Financial Statements and Supplementary Data” of this Form 10-K for further information.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

LEASES (Tables)

12 Months Ended

Feb. 03, 2024

Leases [Abstract]

Lease, Cost

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


	Fiscal Years Ended
	February 3, 2024		January 28, 2023		January 29, 2022
	(in thousands)
Fixed operating lease cost	$	91,066	$	99,988	$	113,681
Variable operating lease cost (1)	44,195		51,905		39,711
Total operating lease cost	$	135,261	$	151,893	$	153,392

____________________________________________

Lessee, Operating Lease, Liability, Maturity

As of February 3, 2024, the maturities of operating lease liabilities were as follows:


	February 3, 2024
	(in thousands)
2024	$	79,480
2025	50,582
2026	28,096
2027	15,252
2028	13,257
Thereafter	40,605
Total operating lease payments	227,272
Less: imputed interest	(39,964)
Present value of operating lease liabilities	$	187,308

PROPERTY AND EQUIPMENT, NET

12 Months Ended

Feb. 03, 2024

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

Property and equipment consisted of the following:


	February 3, 2024		January 28, 2023
	(in thousands)
Property and equipment:
Land and land improvements	$	3,403	$	3,403
Building and improvements	36,187		36,187
Material handling equipment	90,637		71,404
Leasehold improvements	162,898		196,302
Store fixtures and equipment	173,667		210,413
Capitalized software	333,953		336,336
Construction in progress	3,386		23,959
	804,131		878,004
Less accumulated depreciation and amortization	(679,381)		(728,130)
Property and equipment, net	$	124,750	$	149,874

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 analyses performed, the Company recorded asset impairment charges during Fiscal 2023, Fiscal 2022, and Fiscal 2021 of $5.6 million, $3.3 million, and $1.5 million, respectively, inclusive of ROU assets

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Feb. 03, 2024	Apr. 29, 2024	Jul. 29, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Feb. 03, 2024
Current Fiscal Year End Date	--02-03
Document Transition Report	false
Entity File Number	0-23071
Entity Registrant Name	THE CHILDREN’S PLACE, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	31-1241495
Entity Address, Address Line One	500 Plaza Drive
Entity Address, City or Town	Secaucus,
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07094
City Area Code	201
Local Phone Number	558‑2400
Title of 12(b) Security	Common Stock, $0.10 par value
Trading Symbol	PLCE
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 366,621,788
Entity Common Stock, Shares Outstanding		12,685,290
Documents Incorporated by Reference	Documents incorporated by reference: Portions of The Children’s Place, Inc. definitive proxy statement for its annual meeting of stockholders to be held on May 22, 2024 are incorporated by reference into Part III.
Entity Central Index Key	0001041859
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false

DEBT - Narrative (Details) - USD ($)				12 Months Ended
DEBT - Narrative (Details) - USD ($)	Apr. 16, 2024	Jun. 05, 2023	Nov. 16, 2021	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022	Feb. 29, 2024
Line of Credit Facility [Line Items]
Interest expense				$ 30,087,000	$ 13,324,000	$ 18,634,000
Debt Condition One
Line of Credit Facility [Line Items]
Debt covenant, EBITDA target		$ 200,000,000
Term Loan \| Secured Debt
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			$ 80,000,000
Term Loan \| Secured Debt \| SOFR
Line of Credit Facility [Line Items]
Basis spread on variable rate			2.75%
ABL Credit Facility
Line of Credit Facility [Line Items]
Interest expense				24,200,000	10,200,000	7,000,000
New Term Loan \| Secured Debt
Line of Credit Facility [Line Items]
Debt instrument, face amount			$ 50,000,000
Interest expense, long-term debt				4,000,000	2,300,000	$ 5,900,000
New Term Loan \| Secured Debt \| Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate			2.00%
Mithaq Term Loan \| Subsequent Event
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity							$ 78,600,000
New Mithaq Term Loan \| Subsequent Event
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity							$ 90,000,000
Basis spread on variable rate	4.00%
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		$ 445,000,000	$ 350,000,000
Unamortized balance of deferred financing costs				$ 2,200,000	2,000,000
Revolving Credit Facility \| ABL Credit Facility \| Subsequent Event
Line of Credit Facility [Line Items]
Outstanding borrowings	$ 433,000,000
Revolving Credit Facility \| ABL Credit Facility \| Line of Credit
Line of Credit Facility [Line Items]
Unused line fee percentage				0.20%
Revolving Credit Facility \| ABL Credit Facility \| Line of Credit \| Minimum \| Prime rate
Line of Credit Facility [Line Items]
Basis spread on variable rate				1.25%
Revolving Credit Facility \| ABL Credit Facility \| Line of Credit \| Minimum \| Prime rate \| Debt Condition One
Line of Credit Facility [Line Items]
Basis spread on variable rate		0.625%
Revolving Credit Facility \| ABL Credit Facility \| Line of Credit \| Minimum \| SOFR
Line of Credit Facility [Line Items]
Basis spread on variable rate		2.00%
Revolving Credit Facility \| ABL Credit Facility \| Line of Credit \| Minimum \| SOFR \| Debt Condition One
Line of Credit Facility [Line Items]
Basis spread on variable rate		1.375%
Revolving Credit Facility \| ABL Credit Facility \| Line of Credit \| Maximum \| Prime rate
Line of Credit Facility [Line Items]
Basis spread on variable rate				1.50%
Revolving Credit Facility \| ABL Credit Facility \| Line of Credit \| Maximum \| Prime rate \| Debt Condition One
Line of Credit Facility [Line Items]
Basis spread on variable rate		0.875%
Revolving Credit Facility \| ABL Credit Facility \| Line of Credit \| Maximum \| SOFR
Line of Credit Facility [Line Items]
Basis spread on variable rate		2.25%
Revolving Credit Facility \| ABL Credit Facility \| Line of Credit \| Maximum \| SOFR \| Debt Condition One
Line of Credit Facility [Line Items]
Basis spread on variable rate		1.625%
Revolving Credit Facility \| ABL Credit Facility and the Term Loan
Line of Credit Facility [Line Items]
Unamortized balance of deferred financing costs				$ 2,400,000	$ 2,300,000
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				1.50%
Standby And Documentary Letters Of Credit \| ABL Credit Facility \| Line of Credit \| Maximum
Line of Credit Facility [Line Items]
Unused line fee percentage				1.75%
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
Commercial Letter Of Credit \| ABL Credit Facility \| Line of Credit \| Minimum
Line of Credit Facility [Line Items]
Unused line fee percentage				1.00%
Commercial Letter Of Credit \| ABL Credit Facility \| Line of Credit \| Minimum \| Debt Condition One
Line of Credit Facility [Line Items]
Unused line fee percentage		0.688%
Commercial Letter Of Credit \| ABL Credit Facility \| Line of Credit \| Maximum
Line of Credit Facility [Line Items]
Unused line fee percentage				1.125%
Commercial Letter Of Credit \| ABL Credit Facility \| Line of Credit \| Maximum \| Debt Condition One
Line of Credit Facility [Line Items]
Unused line fee percentage		0.813%
Standby Letters of Credit \| ABL Credit Facility \| Line of Credit \| Minimum \| Debt Condition One
Line of Credit Facility [Line Items]
Unused line fee percentage		0.875%
Standby Letters of Credit \| ABL Credit Facility \| Line of Credit \| Maximum \| Debt Condition One
Line of Credit Facility [Line Items]
Unused line fee percentage		1.125%

STOCK-BASED COMPENSATION - Unvested Awards Roll Forward (Details) - $ / shares shares in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Deferred Awards
Number of Shares
Unvested Awards, beginning of year (in shares)	282	467	550
Granted (in shares)	170	159	157
Vested shares, including shares earned in excess of target (in shares)	(203)	(222)	(229)
Forfeited (in shares)	(11)	(122)	(11)
Unvested Awards, end of year (in shares)	238	282	467
Weighted Average Grant Date Fair Value
Unvested awards at the beginning of the year (in dollars per share)	$ 49.78	$ 57.60	$ 55.43
Granted (in dollars per share)	25.35	46.56	76.59
Vested shares, including shares earned in excess of target (in usd per share)	50.08	62.13	63.73
Forfeited (in usd per share)	52.27	53.09	92.10
Unvested Deferred Awards, end of year (in usd per share)	$ 31.99	$ 49.78	$ 57.60
Performance Awards
Number of Shares
Unvested Awards, beginning of year (in shares)	483	366	350
Granted (in shares)	131	90	164
Shares earned in excess of (below) Target Shares (in shares)	0	192	(22)
Vested shares, including shares earned in excess of target (in shares)	(300)	(58)	(119)
Forfeited (in shares)	(18)	(107)	(7)
Unvested Awards, end of year (in shares)	296	483	366
Weighted Average Grant Date Fair Value
Unvested awards at the beginning of the year (in dollars per share)	$ 55.85	$ 70.01	$ 74.37
Granted (in dollars per share)	21.55	48.84	75.01
Shares earned in excess of (below) Target Shares (in usd per share)	0	48.17	65.34
Vested shares, including shares earned in excess of target (in usd per share)	44.71	101.62	89.44
Forfeited (in usd per share)	55.01	59.86	90.22
Unvested Deferred Awards, end of year (in usd per share)	$ 51.98	$ 55.85	$ 70.01
Target shares earned percentage	100.00%

SUBSEQUENT EVENTS (Details) - USD ($)	May 01, 2024	Apr. 18, 2024	Apr. 16, 2024	Mar. 08, 2024	Feb. 29, 2024	Feb. 12, 2024	Jun. 05, 2023	Nov. 16, 2021
Subsequent Event \| The Children's Place \| Mithaq Capital SPC
Subsequent Events
Ownership percentage of company, controlling interest						50.00%
Mithaq Term Loan \| Subsequent Event
Subsequent Events
Line of credit facility, maximum borrowing capacity					$ 78,600,000
Mithaq Term Loan 1 \| Subsequent Event
Subsequent Events
Line of credit facility, maximum borrowing capacity					30,000,000
Mithaq Term Loan 2 \| Subsequent Event
Subsequent Events
Line of credit facility, maximum borrowing capacity				$ 48,600,000
New Mithaq Term Loan \| Subsequent Event
Subsequent Events
Line of credit facility, maximum borrowing capacity					$ 90,000,000
Basis spread on variable rate			4.00%
Credit Agreement \| Subsequent Event
Subsequent Events
Repayments of debt		$ 50,000,000
ABL Credit Facility \| Revolving Credit Facility
Subsequent Events
Line of credit facility, maximum borrowing capacity							$ 445,000,000	$ 350,000,000
ABL Credit Facility \| Subsequent Event \| Revolving Credit Facility
Subsequent Events
Outstanding borrowings			$ 433,000,000
Mithaq Credit Facility \| Subsequent Event
Subsequent Events
Line of credit facility, maximum borrowing capacity	$ 40,000,000
Mithaq Credit Facility \| Subsequent Event \| SOFR
Subsequent Events
Basis spread on variable rate	5.00%

INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Feb. 03, 2024	Jan. 28, 2023
Deferred tax assets:
Operating lease liabilities	$ 48,122	$ 48,079
Capitalized research and development, net	23,653	17,856
Net operating loss carryforward	13,704	3,453
Reserves	10,167	12,038
Interest expense carryforward	9,980	1,106
Tax credits	6,630	2,727
Inventory	3,333	4,612
Tradenames and customer databases, net	3,304	0
Charitable contributions	1,084	0
Stock-based compensation	924	2,461
Deferred Tax Assets, Gross	120,901	92,332
Less: valuation allowance	(69,898)	(1,273)
Total deferred tax assets (liabilities), net	51,003	91,059
Deferred tax liabilities:
Right-of-use assets	(44,844)	(43,576)
Property and equipment, net	(3,149)	(2,407)
Prepaid expenses	(2,038)	(3,704)
Foreign and state tax on unremitted earnings	(1,554)	(1,554)
Tradenames and customer databases, net	0	(3,202)
Total deferred tax liabilities	(51,585)	(54,443)
Total deferred tax assets (liabilities), net	$ (582)
Total deferred tax assets (liabilities), net		$ 36,616