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Income Taxes - (Tables)

12 Months Ended

Jan. 31, 2021

Income Tax Disclosure [Abstract]

Effective Income Tax Rate Reconciliation

The Company’s effective income tax rate reconciliation is as follows for the periods presented:

			Fiscal Year
			2020						2019						2018
Federal statutory rate			21.0		%				21.0		%				21.0		%
State income taxes, net of federal tax benefit			20.6		%				4.4		%				1.5		%
Change in tax rate			1.7		%				0.6		%				—		%
Share-based compensation			73.0		%				4.0		%				—		%
Research and development tax credit			7.8		%				1.3		%				—		%
Other			0.9		%				(3.4)		%				(1.1)		%
Change in valuation allowance			(125.0)		%				(27.9)		%				(21.4)		%
Effective rate			—		%				—		%				—		%

Schedule of Deferred Tax Assets and Liabilities

The temporary differences which comprise the Company’s deferred taxes are as follows for the periods presented (in thousands):

			As of
			January 31, 2021						February 2, 2020
Deferred tax assets:
Operating lease liabilities			$	89,117					$	53,578
Inventories			3,883						7,485
Share-based compensation			31,372						29,639
Accrued expenses and reserves			22,865						10,814
Other			4,044						12,882
Net operating loss carryforwards			87,881						190,307
Total deferred tax assets			239,162						304,705
Less: valuation allowance			124,012						242,974
Deferred tax assets, net of valuation allowance			115,150						61,731
Deferred tax liabilities:
Operating lease right-of-use assets			76,249						44,428
Depreciation			37,821						15,681
Prepaids			1,080						1,622
Total deferred tax liabilities			115,150						61,731
Net deferred tax assets			$	—					$	—

Summary of Valuation Allowance

The following summarizes the activity related to valuation allowances on deferred tax assets (in thousands):

			Fiscal Year
			2020						2019						2018
Valuation allowance, as of beginning of period			$	242,974					$	172,481					$	115,143
Valuation allowances established			113,286						69,009						57,232
Changes to existing valuation allowances			1,528						1,484						106
Reduction of valuation allowance as a result of deconsolidation			(233,776)						—						—
Valuation allowance, as of end of period			$	124,012					$	242,974					$	172,481

Summary of Operating Loss Carryforwards

These deferred tax assets expire as follows (in thousands):

2021			$	36
2025			75
2028			10
2030			444
2032			881
Thereafter			11,605
Indefinite			74,830
Total loss carryforwards			$	87,881

Summary of Tax Credit Carryforwards

As of January 31, 2021, the Company had the following tax credit carryforwards (in thousands):

Year of Expiration			Research and Development						Work Opportunity												Total
2022			$	62					$	—											$	62
2023			82						—												82
2039			1,536						—												1,536
2040			2,909						339												3,248
			$	4,589					$	339											$	4,928

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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