LEASES
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12 Months Ended |
Feb. 28, 2026 |
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| Leases [Abstract] |
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| LEASES |
LEASES The components of total lease cost, net consisted of the following (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Classification | | Fiscal
2025 | | Fiscal
2024 | | Fiscal
2023 | | Operating lease cost (1) | | Cost of sales and Selling and administrative expenses (3) | | $ | 1,167.1 | | | $ | 1,111.5 | | | $ | 1,082.8 | | | Finance lease cost | | | | | | | | | | Amortization of lease assets | | Cost of sales and Selling and administrative expenses (3) | | 40.6 | | | 45.8 | | | 51.7 | | | Interest on lease liabilities | | Interest expense, net | | 34.4 | | | 38.8 | | | 45.5 | | | Variable lease cost (2) | | Cost of sales and Selling and administrative expenses (3) | | 483.1 | | | 465.8 | | | 456.3 | | | Sublease income | | Net sales and other revenue | | (72.3) | | | (76.0) | | | (78.6) | | | Total lease cost, net | | | | $ | 1,652.9 | | | $ | 1,585.9 | | | $ | 1,557.7 | |
(1) Includes short-term lease cost, which is immaterial. (2) Represents variable lease costs for both operating and finance leases. Includes contingent rent expense and other non-fixed lease-related costs, including property taxes, common area maintenance and property insurance. (3) Supply chain-related amounts are included in Cost of sales.
Balance sheet information related to leases as of February 28, 2026 and February 22, 2025 consisted of the following (in millions): | | | | | | | | | | | | | | | | | | | | | | | Classification | | February 28,
2026 | | February 22,
2025 | | Assets | | | | | | | | Operating | | Operating lease right-of-use assets | | $ | 6,102.4 | | | $ | 6,153.4 | | | Finance | | Property and equipment, net | | 287.9 | | | 288.0 | | | Total lease assets | | | | $ | 6,390.3 | | | $ | 6,441.4 | | | | | | | | | | Liabilities | | | | | | | | Current | | | | | | | | Operating | | Current operating lease obligations | | $ | 736.7 | | | $ | 705.5 | | | Finance | | Current maturities of long-term debt and finance lease obligations | | 48.9 | | | 57.0 | | | Long-term | | | | | | | | Operating | | Long-term operating lease obligations | | 5,613.6 | | | 5,657.2 | | | Finance | | Long-term debt and finance lease obligations | | 364.0 | | | 370.9 | | | Total lease liabilities | | | | $ | 6,763.2 | | | $ | 6,790.6 | |
The following table presents cash flow information for leases (in millions): | | | | | | | | | | | | | | | | | | | Fiscal
2025 | | Fiscal
2024 | | Fiscal
2023 | | Cash paid for amounts included in the measurement of lease liabilities: | | | | | | | Operating cash flows from operating leases | $ | 1,109.8 | | | $ | 1,070.1 | | | $ | 1,042.0 | | | Operating cash flows from finance leases | 34.4 | | | 38.8 | | | 45.5 | | | Financing cash flows from finance leases | 51.0 | | | 60.6 | | | 69.3 | | | Right-of-use assets obtained in exchange for operating lease obligations | 689.6 | | | 868.6 | | | 773.0 | | | Right-of-use assets obtained in exchange for finance lease obligations | 41.6 | | | 41.3 | | | 22.6 | | | | | | | | | Impairment of right-of-use operating lease assets | 6.3 | | | 7.0 | | | 1.8 | | | | | | | |
The following table presents the weighted average lease term and discount rate for leases: | | | | | | | | | | | | | February 28,
2026 | | February 22,
2025 | | Weighted average remaining lease term - operating leases | 9.9 years | | 10.2 years | | Weighted average remaining lease term - finance leases | 10.5 years | | 9.7 years | | Weighted average discount rate - operating leases | 6.4 | % | | 6.4 | % | | Weighted average discount rate - finance leases | 8.7 | % | | 9.2 | % |
Future minimum lease payments for operating and finance lease obligations as of February 28, 2026 consisted of the following (in millions): | | | | | | | | | | | | | Lease Obligations | | Fiscal year | Operating Leases | | Finance Leases | | 2026 | $ | 1,038.5 | | | $ | 72.8 | | | 2027 | 1,060.8 | | | 70.9 | | | 2028 | 980.9 | | | 62.6 | | | 2029 | 880.1 | | | 54.3 | | | 2030 | 783.4 | | | 49.6 | | | Thereafter | 4,007.7 | | | 299.9 | | | Total future minimum obligations | 8,751.4 | | | 610.1 | | | Less interest | (2,401.1) | | | (197.2) | | | Present value of net future minimum lease obligations | 6,350.3 | | | 412.9 | | | Less current portion | (736.7) | | | (48.9) | | | Long-term obligations | $ | 5,613.6 | | | $ | 364.0 | |
The Company subleases certain property to third parties. Future minimum tenant operating lease payments remaining under these non-cancelable operating leases as of February 28, 2026 was $260.7 million.
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| LEASES |
LEASES The components of total lease cost, net consisted of the following (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Classification | | Fiscal
2025 | | Fiscal
2024 | | Fiscal
2023 | | Operating lease cost (1) | | Cost of sales and Selling and administrative expenses (3) | | $ | 1,167.1 | | | $ | 1,111.5 | | | $ | 1,082.8 | | | Finance lease cost | | | | | | | | | | Amortization of lease assets | | Cost of sales and Selling and administrative expenses (3) | | 40.6 | | | 45.8 | | | 51.7 | | | Interest on lease liabilities | | Interest expense, net | | 34.4 | | | 38.8 | | | 45.5 | | | Variable lease cost (2) | | Cost of sales and Selling and administrative expenses (3) | | 483.1 | | | 465.8 | | | 456.3 | | | Sublease income | | Net sales and other revenue | | (72.3) | | | (76.0) | | | (78.6) | | | Total lease cost, net | | | | $ | 1,652.9 | | | $ | 1,585.9 | | | $ | 1,557.7 | |
(1) Includes short-term lease cost, which is immaterial. (2) Represents variable lease costs for both operating and finance leases. Includes contingent rent expense and other non-fixed lease-related costs, including property taxes, common area maintenance and property insurance. (3) Supply chain-related amounts are included in Cost of sales.
Balance sheet information related to leases as of February 28, 2026 and February 22, 2025 consisted of the following (in millions): | | | | | | | | | | | | | | | | | | | | | | | Classification | | February 28,
2026 | | February 22,
2025 | | Assets | | | | | | | | Operating | | Operating lease right-of-use assets | | $ | 6,102.4 | | | $ | 6,153.4 | | | Finance | | Property and equipment, net | | 287.9 | | | 288.0 | | | Total lease assets | | | | $ | 6,390.3 | | | $ | 6,441.4 | | | | | | | | | | Liabilities | | | | | | | | Current | | | | | | | | Operating | | Current operating lease obligations | | $ | 736.7 | | | $ | 705.5 | | | Finance | | Current maturities of long-term debt and finance lease obligations | | 48.9 | | | 57.0 | | | Long-term | | | | | | | | Operating | | Long-term operating lease obligations | | 5,613.6 | | | 5,657.2 | | | Finance | | Long-term debt and finance lease obligations | | 364.0 | | | 370.9 | | | Total lease liabilities | | | | $ | 6,763.2 | | | $ | 6,790.6 | |
The following table presents cash flow information for leases (in millions): | | | | | | | | | | | | | | | | | | | Fiscal
2025 | | Fiscal
2024 | | Fiscal
2023 | | Cash paid for amounts included in the measurement of lease liabilities: | | | | | | | Operating cash flows from operating leases | $ | 1,109.8 | | | $ | 1,070.1 | | | $ | 1,042.0 | | | Operating cash flows from finance leases | 34.4 | | | 38.8 | | | 45.5 | | | Financing cash flows from finance leases | 51.0 | | | 60.6 | | | 69.3 | | | Right-of-use assets obtained in exchange for operating lease obligations | 689.6 | | | 868.6 | | | 773.0 | | | Right-of-use assets obtained in exchange for finance lease obligations | 41.6 | | | 41.3 | | | 22.6 | | | | | | | | | Impairment of right-of-use operating lease assets | 6.3 | | | 7.0 | | | 1.8 | | | | | | | |
The following table presents the weighted average lease term and discount rate for leases: | | | | | | | | | | | | | February 28,
2026 | | February 22,
2025 | | Weighted average remaining lease term - operating leases | 9.9 years | | 10.2 years | | Weighted average remaining lease term - finance leases | 10.5 years | | 9.7 years | | Weighted average discount rate - operating leases | 6.4 | % | | 6.4 | % | | Weighted average discount rate - finance leases | 8.7 | % | | 9.2 | % |
Future minimum lease payments for operating and finance lease obligations as of February 28, 2026 consisted of the following (in millions): | | | | | | | | | | | | | Lease Obligations | | Fiscal year | Operating Leases | | Finance Leases | | 2026 | $ | 1,038.5 | | | $ | 72.8 | | | 2027 | 1,060.8 | | | 70.9 | | | 2028 | 980.9 | | | 62.6 | | | 2029 | 880.1 | | | 54.3 | | | 2030 | 783.4 | | | 49.6 | | | Thereafter | 4,007.7 | | | 299.9 | | | Total future minimum obligations | 8,751.4 | | | 610.1 | | | Less interest | (2,401.1) | | | (197.2) | | | Present value of net future minimum lease obligations | 6,350.3 | | | 412.9 | | | Less current portion | (736.7) | | | (48.9) | | | Long-term obligations | $ | 5,613.6 | | | $ | 364.0 | |
The Company subleases certain property to third parties. Future minimum tenant operating lease payments remaining under these non-cancelable operating leases as of February 28, 2026 was $260.7 million.
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| LEASES |
LEASES The components of total lease cost, net consisted of the following (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Classification | | Fiscal
2025 | | Fiscal
2024 | | Fiscal
2023 | | Operating lease cost (1) | | Cost of sales and Selling and administrative expenses (3) | | $ | 1,167.1 | | | $ | 1,111.5 | | | $ | 1,082.8 | | | Finance lease cost | | | | | | | | | | Amortization of lease assets | | Cost of sales and Selling and administrative expenses (3) | | 40.6 | | | 45.8 | | | 51.7 | | | Interest on lease liabilities | | Interest expense, net | | 34.4 | | | 38.8 | | | 45.5 | | | Variable lease cost (2) | | Cost of sales and Selling and administrative expenses (3) | | 483.1 | | | 465.8 | | | 456.3 | | | Sublease income | | Net sales and other revenue | | (72.3) | | | (76.0) | | | (78.6) | | | Total lease cost, net | | | | $ | 1,652.9 | | | $ | 1,585.9 | | | $ | 1,557.7 | |
(1) Includes short-term lease cost, which is immaterial. (2) Represents variable lease costs for both operating and finance leases. Includes contingent rent expense and other non-fixed lease-related costs, including property taxes, common area maintenance and property insurance. (3) Supply chain-related amounts are included in Cost of sales.
Balance sheet information related to leases as of February 28, 2026 and February 22, 2025 consisted of the following (in millions): | | | | | | | | | | | | | | | | | | | | | | | Classification | | February 28,
2026 | | February 22,
2025 | | Assets | | | | | | | | Operating | | Operating lease right-of-use assets | | $ | 6,102.4 | | | $ | 6,153.4 | | | Finance | | Property and equipment, net | | 287.9 | | | 288.0 | | | Total lease assets | | | | $ | 6,390.3 | | | $ | 6,441.4 | | | | | | | | | | Liabilities | | | | | | | | Current | | | | | | | | Operating | | Current operating lease obligations | | $ | 736.7 | | | $ | 705.5 | | | Finance | | Current maturities of long-term debt and finance lease obligations | | 48.9 | | | 57.0 | | | Long-term | | | | | | | | Operating | | Long-term operating lease obligations | | 5,613.6 | | | 5,657.2 | | | Finance | | Long-term debt and finance lease obligations | | 364.0 | | | 370.9 | | | Total lease liabilities | | | | $ | 6,763.2 | | | $ | 6,790.6 | |
The following table presents cash flow information for leases (in millions): | | | | | | | | | | | | | | | | | | | Fiscal
2025 | | Fiscal
2024 | | Fiscal
2023 | | Cash paid for amounts included in the measurement of lease liabilities: | | | | | | | Operating cash flows from operating leases | $ | 1,109.8 | | | $ | 1,070.1 | | | $ | 1,042.0 | | | Operating cash flows from finance leases | 34.4 | | | 38.8 | | | 45.5 | | | Financing cash flows from finance leases | 51.0 | | | 60.6 | | | 69.3 | | | Right-of-use assets obtained in exchange for operating lease obligations | 689.6 | | | 868.6 | | | 773.0 | | | Right-of-use assets obtained in exchange for finance lease obligations | 41.6 | | | 41.3 | | | 22.6 | | | | | | | | | Impairment of right-of-use operating lease assets | 6.3 | | | 7.0 | | | 1.8 | | | | | | | |
The following table presents the weighted average lease term and discount rate for leases: | | | | | | | | | | | | | February 28,
2026 | | February 22,
2025 | | Weighted average remaining lease term - operating leases | 9.9 years | | 10.2 years | | Weighted average remaining lease term - finance leases | 10.5 years | | 9.7 years | | Weighted average discount rate - operating leases | 6.4 | % | | 6.4 | % | | Weighted average discount rate - finance leases | 8.7 | % | | 9.2 | % |
Future minimum lease payments for operating and finance lease obligations as of February 28, 2026 consisted of the following (in millions): | | | | | | | | | | | | | Lease Obligations | | Fiscal year | Operating Leases | | Finance Leases | | 2026 | $ | 1,038.5 | | | $ | 72.8 | | | 2027 | 1,060.8 | | | 70.9 | | | 2028 | 980.9 | | | 62.6 | | | 2029 | 880.1 | | | 54.3 | | | 2030 | 783.4 | | | 49.6 | | | Thereafter | 4,007.7 | | | 299.9 | | | Total future minimum obligations | 8,751.4 | | | 610.1 | | | Less interest | (2,401.1) | | | (197.2) | | | Present value of net future minimum lease obligations | 6,350.3 | | | 412.9 | | | Less current portion | (736.7) | | | (48.9) | | | Long-term obligations | $ | 5,613.6 | | | $ | 364.0 | |
The Company subleases certain property to third parties. Future minimum tenant operating lease payments remaining under these non-cancelable operating leases as of February 28, 2026 was $260.7 million.
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