Common-Size Balance Sheet: Assets
Quarterly Data
Based on: 10-Q (reporting date: 2025-05-03), 10-K (reporting date: 2025-02-01), 10-Q (reporting date: 2024-11-02), 10-Q (reporting date: 2024-08-03), 10-Q (reporting date: 2024-05-04), 10-K (reporting date: 2024-02-03), 10-Q (reporting date: 2023-10-28), 10-Q (reporting date: 2023-07-29), 10-Q (reporting date: 2023-04-29), 10-K (reporting date: 2023-01-28), 10-Q (reporting date: 2022-10-29), 10-Q (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-K (reporting date: 2021-01-30), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-08-01), 10-Q (reporting date: 2020-05-02), 10-K (reporting date: 2020-02-01), 10-Q (reporting date: 2019-11-02), 10-Q (reporting date: 2019-08-03), 10-Q (reporting date: 2019-05-04).
- Cash and cash equivalents
- Cash and cash equivalents as a percentage of total assets exhibited notable volatility over the analyzed periods. Initially, the figure rose sharply from 9.94% in May 2019 to a peak of 33.98% in January 2021, indicating a significant increase in liquid assets. Following this peak, there was a general downtrend with some fluctuations, declining to 13.36% by May 2025. This pattern suggests periods of liquidity accumulation followed by deployment or reduction.
- Accounts receivable, net
- The accounts receivable percentage consistently remained low, fluctuating in a narrow range between approximately 0.68% and 2.14% of total assets. There was a slight increase starting mid-2020 that was sustained with minor variation. The fluctuations indicate stable customer credit balances relative to total assets.
- Merchandise inventories
- This asset category showed considerable variation, with percentages ranging from a low near 14% in mid-2020 to highs exceeding 29% in late 2022. Inventory levels generally declined sharply in early 2020 and rebounded significantly thereafter, with peaks notably observed in late 2022. The variability may reflect inventory management adjustments in response to external conditions or sales cycles.
- Prepaid expenses and other current assets
- These assets maintained a relatively stable proportion, fluctuating modestly around the 1.5%-2.0% range of total assets. Slight increases occurred in mid-2022 and again in early 2025, but overall this category remained a minor and steady component.
- Federal, state and foreign income taxes recoverable
- This category emerged as non-zero beginning early 2020, ranging between 0.12% and 0.51%, indicating occasional recoverable tax balances. The values show variability without clear trend, reflecting periodic tax recoveries or timing differences.
- Current assets
- The percentage of current assets relative to total assets increased significantly from 35.87% in May 2019 to a peak above 52% in late 2020, coinciding with elevated cash balances. After this peak, current assets as a percentage of total assets trended downward gradually to around 39.53% by May 2025, indicating a shift back towards more long-term asset allocation.
- Net property at cost
- Net property consistently represented roughly 15-23% of total assets. There was a downward trend from about 22.3% in 2019 to a low near 15.86% in late 2020, followed by a recovery and general stabilization above 20% from 2022 onward. This reflects possible capital expenditure reductions followed by reinvestment or appreciation in property assets.
- Non-current deferred income taxes, net
- This component remains a minor proportion under 1%, though it displayed a gradual increase from 0.03% in early 2019 to around 0.65% in late 2021 before modestly declining. The steady presence suggests ongoing deferred tax liabilities or assets impacting long-term accounts.
- Operating lease right of use assets
- Right of use assets decreased from nearly 40% of total assets in 2019 to approximately 28.6% in late 2020, then recovered somewhat to fluctuate around 30-32% thereafter. This trend likely reflects lease portfolio adjustments such as lease terminations or new lease agreements influencing fixed asset composition.
- Goodwill
- Goodwill represented a very small percentage of total assets, consistently below 0.5% with slight declines over time from 0.43% to 0.30%. This suggests minimal acquired intangible assets relative to total asset base or amortization impacts.
- Other assets
- Other assets showed a gradual increase from around 2.18% in 2019 to nearly 4.86% by May 2025. This steady rise indicates expanding less clearly defined or diversified asset holdings over the period analyzed.
- Long-term assets
- Long-term assets as a percentage of total assets showed a downward trend from over 64% in early 2019 to a low near 47.24% in late 2020, followed by a recovery and partial stabilization between approximately 55% and 60% into 2025. This shift corresponds inversely with current assets trends, illustrating fluctuating allocation between short- and long-term asset categories potentially driven by strategic or operational factors.