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INCOME TAXES (Tables)

12 Months Ended

Jan. 29, 2022

Income Tax Disclosure [Abstract]

Provision for income taxes

The provision for income taxes consists of:

			Fiscal Years Ended
			January 29, 2022						January 30, 2021						February 1, 2020
Current income tax expense:
Federal			$	69,228					$	35,837					$	29,660
State			14,088						6,269						5,604
Deferred income tax expense (benefit)			(381)						(1,298)						(1,986)
Total			$	82,935					$	40,808					$	33,278

Reconciliation of effective tax rate

Total income tax expense for the year varies from the amount which would be provided by applying the statutory income tax rate to earnings before income taxes. The primary reasons for this difference (expressed as a percent of pre-tax income) are as follows:

			Fiscal Years Ended
			January 29, 2022						January 30, 2021						February 1, 2020
Statutory rate			21.0		%				21.0		%				21.0		%
State income tax effect			3.3						2.9						3.2
Other			0.3						—						—
Effective tax rate			24.6		%				23.9		%				24.2		%

Deferred income tax assets and liabilities

Deferred income tax assets and liabilities are comprised of the following:

			January 29, 2022						January 30, 2021
Deferred income tax assets (liabilities):
Inventory			$	3,673					$	4,228
Stock-based compensation			3,157						2,118
Accrued compensation			4,796						4,551
Deferred payroll taxes (a)			623						1,326
Accrued store operating costs			3,006						2,862
Unrealized (gain)/loss on securities			(341)						(528)
Gift certificates redeemable			921						918
Deferred rent liability			110						319
Property and equipment			(13,514)						(13,138)
Operating lease right-of-use assets			(62,139)						(67,046)
Operating lease liabilities			69,202						73,504
Net deferred income tax asset			$	9,494					$	9,114

(a)     Relates to the liability for deferred payment of the employer's portion of Social Security taxes, as provided for under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) enacted on March 27, 2020.

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
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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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-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
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- Definition

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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-Publisher FASB
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-SubTopic 10
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-Paragraph 12
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