we remain committed to serving the customer launching over 100 new brands in 2020. we have made investments over several years to integrate the digital and physical channels creating a seamless shopping experience for our customer and one channel expense structure which we believe was a critical asset in 2020 as more demand shifted to the digital channels in response to store closures . we are continuing to deliver almost all of our online orders in north america from our stores , which has provided significant improvements in the speed of delivery to our customers . internationally we continue to see deeper penetration of localized fulfillment and are in various stages of roll-out in different countries . in-store fulfillment is a key part of strategy that we believe will drive long term market share by leveraging the strengths of our store sales team , providing better and faster service to customers , improving product margins , maximizing the productivity of inventory , providing additional selling opportunities , and utilizing one cost structure to serve the customer . 26 the following table shows net sales , operating profit , operating margin and diluted earnings per share for fiscal 2020 compared to fiscal 2019 : replace_table_token_5_th ( 1 ) the decrease in net sales was primarily due to widespread short-term store closures globally throughout the fiscal year due to the covid-19 pandemic , partially offset by a 13.6 % comparable sales increase and the net addition of 3 stores ( 12 new stores offset by 9 store closures ) . the increase in comparable sales was driven by an increase in transactions and an increase in dollars per transaction . dollars per transaction increased due to an increase in units per transaction and average unit retail . fiscal 2021—a look at the upcoming year we are entering fiscal 2021 having just come off an incredibly challenging year that resulted in our sales decreasing 4.2 % , while still recording the strongest earnings in the history of our company . we are currently planning 2021 with the expectation that we will continue to experience many of the challenges that impacted us in 2020 , but with fewer store closures and restrictions as we move through the year . given the cadence of 2020 , we are expecting the first quarter to be significantly stronger than 2020 while the second quarter and various elements of the back half of the year will be more challenging based on the increased competition for discretionary dollars and timing of normalized operational costs , including store payroll , travel , marketing events , and training , as overall covid restrictions are reduced . in fiscal 2021 , our focus remains on serving the customer with strategic investments largely focused on enhancing the customer experience while increasing market share and creating operational efficiencies to drive operating margin expansion . given our significant cash position , we have the security to manage through potential difficulties while also investing strategically in important long-term initiatives . as we are within our targeted store count range in north america , we expect that store count will be roughly flat in the region . in europe and australia , however , we continue to believe we have growth opportunities and we are planning 22 new stores during fiscal 2021 , up from 9 in 2020. in fiscal 2021 , considering our anticipated growth rate inclusive of the recapture of lost sales from store closures in 2020 , we expect that we will be able to grow operating margins for the full year compared to fiscal 2020. it is important to note that we will also be looking to reintroduce costs that were cut in 2020 due to their importance to our long-term strategy , culture , and brand . these costs will include many training and marketing related events that we were unable to execute in 2020 due to travel and other restrictions , department travel to connect our people and increased store hours as malls around the world move back to normal operations . our year-end fiscal 2020 inventory was down 0.5 % from year-end fiscal 2019. in fiscal 2021 , we anticipate inventory levels per square foot will grow slower than sales on the year as we apply learnings from 2020 to further increase inventory turns . excluding any potential share buy-backs under the currently authorized program , we expect cash , short-term investments and working capital to increase , and do not anticipate any new long-term borrowings during the year . long-term , we aim to grow sales annually and grow operating profit at a faster rate than sales by focusing on the changing consumer environment while managing our cost structure . general net sales constitute gross sales , net of actual and estimated returns and deductions for promotions , and shipping revenue . net sales include our store sales and our ecommerce sales . we record the sale of gift cards as a current liability and recognize revenue when a customer redeems a gift card . additionally , the portion of gift cards that will not be redeemed ( “ gift card breakage ” ) is recognized based on our historical redemption rate in proportion to the pattern of rights exercised by the customer . 27 we report “ comparable sales ” based on net sales beginning on the first anniversary of the first day of operation of a new store or ecommerce business . we operate a sales strategy that integrates our stores with our ecommerce platform . there is significant interaction between our store sales and our ecommerce sales channels and we believe that they are utilized in tandem to serve our customers . therefore , our comparable sales also include our ecommerce sales . story_separator_special_tag in fiscal 2021 , we expect to spend approximately $ 20 million to $ 22 million on capital expenditures , a majority of which will relate to leasehold improvements and fixtures for the approximately 22 new stores we plan to open in fiscal 2021 and remodels or relocations of existing stores . there can be no assurance that the number of stores that we actually open in fiscal 2021 will not be different from the number of stores we plan to open , or that actual fiscal 2021 capital expenditures will not differ from this expected amount . critical accounting estimates our consolidated financial statements are prepared in accordance with u.s. gaap . in connection with the preparation of our consolidated financial statements , we are required to make assumptions and estimates about future events , and apply judgments that affect the reported amounts of assets , liabilities , revenue , expenses and the related disclosures . we base our assumptions , estimates and judgments on historical experience , current trends and other factors that we believe to be relevant at the time our consolidated financial statements are prepared . on a regular basis , we review the accounting policies , assumptions , estimates and judgments to ensure that our consolidated financial statements are presented fairly and in accordance with u.s. gaap . however , because future events and their effects can not be determined with certainty , actual results could differ from our assumptions and estimates , and such differences could be material . our significant accounting policies are discussed in note 2 , “ summary of significant accounting policies , ” in the notes to consolidated financial statements found in part iv item 15 of this form 10-k. we believe that the following accounting estimates are the most critical to aid in fully understanding and evaluating our reported financial results , and they require our most difficult , subjective or complex judgments , resulting from the need to make estimates about the effect of matters that are inherently uncertain . 34 description judgments and uncertainties effect if actual results differ from assumptions valuation of merchandise inventories we value our inventory at the lower of average cost or net realizable value through the establishment of write-down and inventory loss reserves . our write-down reserve represents the excess of the carrying value over the amount we expect to realize from the ultimate sales or other disposal of the inventory . write-downs establish a new cost basis for our inventory . subsequent changes in facts or circumstances do not result in the restoration of previously recorded write-downs or an increase in that newly established cost basis . our inventory loss reserve represents anticipated physical inventory losses ( “ shrinkage reserve ” ) that have occurred since the last physical inventory . our write-down reserve contains uncertainties because the calculation requires management to make assumptions based on the current rate of sales , the age and profitability of inventory and other factors . our shrinkage reserve contains uncertainties because the calculation requires management to make assumptions and to apply judgment regarding a number of factors , including historical percentages that can be affected by changes in merchandise mix and changes in actual shrinkage trends . we have not made any material changes in the accounting methodology used to calculate our write-down and shrinkage reserves in the past three fiscal years . we do not believe there is a reasonable likelihood that there will be a material change in the future estimates we use to calculate our inventory reserves . however , if actual results are not consistent with our estimates , we may be exposed to losses or gains that could be material . a 10 % decrease in the sales price of our inventory at january 30 , 2021 would have decreased net income by less than $ 0.1 million in fiscal 2020. a 10 % increase in actual physical inventory shrinkage rate at january 30 , 2021 would have decreased net income by $ 0.1 million in fiscal 2020. valuation of long-lived assets we review the carrying value of our long-lived assets , including fixed assets and operating lease right-of-use assets , for impairment whenever events or changes in circumstances indicate that the carrying value of such asset or asset group may not be recoverable . recoverability of assets to be held and used is determined by a comparison of the carrying amount of an asset to future undiscounted net cash flows expected to be generated by the asset . if such assets are considered impaired , the impairment recognized is measured by comparing the fair value of the asset to the asset carrying value . the fair value of the asset is based on the future discounted cash flow of current market rents that we could receive as sublease income . events that may result in an impairment include the decision to close a store or facility or a significant decrease in the operating performance of a long-lived asset group . our impairment calculations contain uncertainties because they require management to make assumptions and to apply judgment to estimate future cash flows and asset fair values , including forecasting future sales , gross profit , operating expenses , or sub-lease income . in addition to historical results , current trends and initiatives , and long-term macro-economic and industry factors are qualitatively considered . additionally , management seeks input from store operations related to local economic conditions , including the impact of closures of selected co-tenants who occupy the mall . we do not believe there is a reasonable likelihood that there will be a material change in the estimates or assumptions we use to calculate long-lived asset impairment losses . however , if actual results are not consistent with our estimates and assumptions , our operating results could be adversely affected . declines in projected cash flow of the assets could result in impairment . 35 description judgments and

liquidity and capital resources our primary uses of cash are for operational expenditures , inventory purchases and capital investments , including new stores , store remodels , store relocations , store fixtures and ongoing infrastructure improvements . additionally , we may use cash for the repurchase of our common stock . historically , our main source of liquidity has been cash flows from operations . the significant components of our working capital are inventories and liquid assets such as cash , cash equivalents , current marketable securities and receivables , reduced by accounts payable and accrued expenses . our working capital position benefits from the fact that we generally collect cash from sales to customers the same day or within several days of the related sale , while we typically have longer payment terms with our vendors . at january 30 , 2021 and february 1 , 2020 , cash , cash equivalents and current marketable securities were $ 375.5 million and $ 251.2 million . working capital , the excess of current assets over current liabilities , was $ 339.8 million at the end of fiscal 2020 , an increase of 34.4 % from $ 252.9 million at the end of fiscal 2019. the increase in cash , cash equivalents and current marketable securities in fiscal 2020 was due primarily to cash provided by operating activities of $ 138.4 million , partially offset by $ 9.1 million of capital expenditures primarily related to the opening of 12 new stores and 3 remodels and relocations .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources our primary uses of cash are for operational expenditures , inventory purchases and capital investments , including new stores , store remodels , store relocations , store fixtures and ongoing infrastructure improvements . additionally , we may use cash for the repurchase of our common stock . historically , our main source of liquidity has been cash flows from operations . the significant components of our working capital are inventories and liquid assets such as cash , cash equivalents , current marketable securities and receivables , reduced by accounts payable and accrued expenses . our working capital position benefits from the fact that we generally collect cash from sales to customers the same day or within several days of the related sale , while we typically have longer payment terms with our vendors . at january 30 , 2021 and february 1 , 2020 , cash , cash equivalents and current marketable securities were $ 375.5 million and $ 251.2 million . working capital , the excess of current assets over current liabilities , was $ 339.8 million at the end of fiscal 2020 , an increase of 34.4 % from $ 252.9 million at the end of fiscal 2019. the increase in cash , cash equivalents and current marketable securities in fiscal 2020 was due primarily to cash provided by operating activities of $ 138.4 million , partially offset by $ 9.1 million of capital expenditures primarily related to the opening of 12 new stores and 3 remodels and relocations .
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 Suspicious Activity Report : we remain committed to serving the customer launching over 100 new brands in 2020. we have made investments over several years to integrate the digital and physical channels creating a seamless shopping experience for our customer and one channel expense structure which we believe was a critical asset in 2020 as more demand shifted to the digital channels in response to store closures . we are continuing to deliver almost all of our online orders in north america from our stores , which has provided significant improvements in the speed of delivery to our customers . internationally we continue to see deeper penetration of localized fulfillment and are in various stages of roll-out in different countries . in-store fulfillment is a key part of strategy that we believe will drive long term market share by leveraging the strengths of our store sales team , providing better and faster service to customers , improving product margins , maximizing the productivity of inventory , providing additional selling opportunities , and utilizing one cost structure to serve the customer . 26 the following table shows net sales , operating profit , operating margin and diluted earnings per share for fiscal 2020 compared to fiscal 2019 : replace_table_token_5_th ( 1 ) the decrease in net sales was primarily due to widespread short-term store closures globally throughout the fiscal year due to the covid-19 pandemic , partially offset by a 13.6 % comparable sales increase and the net addition of 3 stores ( 12 new stores offset by 9 store closures ) . the increase in comparable sales was driven by an increase in transactions and an increase in dollars per transaction . dollars per transaction increased due to an increase in units per transaction and average unit retail . fiscal 2021—a look at the upcoming year we are entering fiscal 2021 having just come off an incredibly challenging year that resulted in our sales decreasing 4.2 % , while still recording the strongest earnings in the history of our company . we are currently planning 2021 with the expectation that we will continue to experience many of the challenges that impacted us in 2020 , but with fewer store closures and restrictions as we move through the year . given the cadence of 2020 , we are expecting the first quarter to be significantly stronger than 2020 while the second quarter and various elements of the back half of the year will be more challenging based on the increased competition for discretionary dollars and timing of normalized operational costs , including store payroll , travel , marketing events , and training , as overall covid restrictions are reduced . in fiscal 2021 , our focus remains on serving the customer with strategic investments largely focused on enhancing the customer experience while increasing market share and creating operational efficiencies to drive operating margin expansion . given our significant cash position , we have the security to manage through potential difficulties while also investing strategically in important long-term initiatives . as we are within our targeted store count range in north america , we expect that store count will be roughly flat in the region . in europe and australia , however , we continue to believe we have growth opportunities and we are planning 22 new stores during fiscal 2021 , up from 9 in 2020. in fiscal 2021 , considering our anticipated growth rate inclusive of the recapture of lost sales from store closures in 2020 , we expect that we will be able to grow operating margins for the full year compared to fiscal 2020. it is important to note that we will also be looking to reintroduce costs that were cut in 2020 due to their importance to our long-term strategy , culture , and brand . these costs will include many training and marketing related events that we were unable to execute in 2020 due to travel and other restrictions , department travel to connect our people and increased store hours as malls around the world move back to normal operations . our year-end fiscal 2020 inventory was down 0.5 % from year-end fiscal 2019. in fiscal 2021 , we anticipate inventory levels per square foot will grow slower than sales on the year as we apply learnings from 2020 to further increase inventory turns . excluding any potential share buy-backs under the currently authorized program , we expect cash , short-term investments and working capital to increase , and do not anticipate any new long-term borrowings during the year . long-term , we aim to grow sales annually and grow operating profit at a faster rate than sales by focusing on the changing consumer environment while managing our cost structure . general net sales constitute gross sales , net of actual and estimated returns and deductions for promotions , and shipping revenue . net sales include our store sales and our ecommerce sales . we record the sale of gift cards as a current liability and recognize revenue when a customer redeems a gift card . additionally , the portion of gift cards that will not be redeemed ( “ gift card breakage ” ) is recognized based on our historical redemption rate in proportion to the pattern of rights exercised by the customer . 27 we report “ comparable sales ” based on net sales beginning on the first anniversary of the first day of operation of a new store or ecommerce business . we operate a sales strategy that integrates our stores with our ecommerce platform . there is significant interaction between our store sales and our ecommerce sales channels and we believe that they are utilized in tandem to serve our customers . therefore , our comparable sales also include our ecommerce sales . story_separator_special_tag in fiscal 2021 , we expect to spend approximately $ 20 million to $ 22 million on capital expenditures , a majority of which will relate to leasehold improvements and fixtures for the approximately 22 new stores we plan to open in fiscal 2021 and remodels or relocations of existing stores . there can be no assurance that the number of stores that we actually open in fiscal 2021 will not be different from the number of stores we plan to open , or that actual fiscal 2021 capital expenditures will not differ from this expected amount . critical accounting estimates our consolidated financial statements are prepared in accordance with u.s. gaap . in connection with the preparation of our consolidated financial statements , we are required to make assumptions and estimates about future events , and apply judgments that affect the reported amounts of assets , liabilities , revenue , expenses and the related disclosures . we base our assumptions , estimates and judgments on historical experience , current trends and other factors that we believe to be relevant at the time our consolidated financial statements are prepared . on a regular basis , we review the accounting policies , assumptions , estimates and judgments to ensure that our consolidated financial statements are presented fairly and in accordance with u.s. gaap . however , because future events and their effects can not be determined with certainty , actual results could differ from our assumptions and estimates , and such differences could be material . our significant accounting policies are discussed in note 2 , “ summary of significant accounting policies , ” in the notes to consolidated financial statements found in part iv item 15 of this form 10-k. we believe that the following accounting estimates are the most critical to aid in fully understanding and evaluating our reported financial results , and they require our most difficult , subjective or complex judgments , resulting from the need to make estimates about the effect of matters that are inherently uncertain . 34 description judgments and uncertainties effect if actual results differ from assumptions valuation of merchandise inventories we value our inventory at the lower of average cost or net realizable value through the establishment of write-down and inventory loss reserves . our write-down reserve represents the excess of the carrying value over the amount we expect to realize from the ultimate sales or other disposal of the inventory . write-downs establish a new cost basis for our inventory . subsequent changes in facts or circumstances do not result in the restoration of previously recorded write-downs or an increase in that newly established cost basis . our inventory loss reserve represents anticipated physical inventory losses ( “ shrinkage reserve ” ) that have occurred since the last physical inventory . our write-down reserve contains uncertainties because the calculation requires management to make assumptions based on the current rate of sales , the age and profitability of inventory and other factors . our shrinkage reserve contains uncertainties because the calculation requires management to make assumptions and to apply judgment regarding a number of factors , including historical percentages that can be affected by changes in merchandise mix and changes in actual shrinkage trends . we have not made any material changes in the accounting methodology used to calculate our write-down and shrinkage reserves in the past three fiscal years . we do not believe there is a reasonable likelihood that there will be a material change in the future estimates we use to calculate our inventory reserves . however , if actual results are not consistent with our estimates , we may be exposed to losses or gains that could be material . a 10 % decrease in the sales price of our inventory at january 30 , 2021 would have decreased net income by less than $ 0.1 million in fiscal 2020. a 10 % increase in actual physical inventory shrinkage rate at january 30 , 2021 would have decreased net income by $ 0.1 million in fiscal 2020. valuation of long-lived assets we review the carrying value of our long-lived assets , including fixed assets and operating lease right-of-use assets , for impairment whenever events or changes in circumstances indicate that the carrying value of such asset or asset group may not be recoverable . recoverability of assets to be held and used is determined by a comparison of the carrying amount of an asset to future undiscounted net cash flows expected to be generated by the asset . if such assets are considered impaired , the impairment recognized is measured by comparing the fair value of the asset to the asset carrying value . the fair value of the asset is based on the future discounted cash flow of current market rents that we could receive as sublease income . events that may result in an impairment include the decision to close a store or facility or a significant decrease in the operating performance of a long-lived asset group . our impairment calculations contain uncertainties because they require management to make assumptions and to apply judgment to estimate future cash flows and asset fair values , including forecasting future sales , gross profit , operating expenses , or sub-lease income . in addition to historical results , current trends and initiatives , and long-term macro-economic and industry factors are qualitatively considered . additionally , management seeks input from store operations related to local economic conditions , including the impact of closures of selected co-tenants who occupy the mall . we do not believe there is a reasonable likelihood that there will be a material change in the estimates or assumptions we use to calculate long-lived asset impairment losses . however , if actual results are not consistent with our estimates and assumptions , our operating results could be adversely affected . declines in projected cash flow of the assets could result in impairment . 35 description judgments and

