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INCOME TAXES (Tables)

12 Months Ended

Feb. 03, 2024

Income Tax Disclosure [Abstract]

Provision for income taxes

The provision for income taxes consists of:

			Fiscal Years Ended
			February 3, 2024						January 28, 2023						January 29, 2022
Current income tax expense:
Federal			$	59,652					$	68,003					$	69,228
State			10,733						11,285						14,088
Deferred income tax expense (benefit)			(1,089)						1,142						(381)
Total			$	69,296					$	80,430					$	82,935

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
			February 3, 2024						January 28, 2023						January 29, 2022
Statutory rate			21.0		%				21.0		%				21.0		%
State income tax effect			2.9						2.7						3.3
Other			0.1						0.3						0.3
Effective tax rate			24.0		%				24.0		%				24.6		%

Deferred income tax assets and liabilities

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

			February 3, 2024						January 28, 2023
Deferred income tax assets (liabilities):
Inventory			$	5,458					$	4,257
Stock-based compensation			5,417						4,276
Accrued compensation			6,318						5,197
Accrued store operating costs			2,880						2,886
Unrealized (gain)/loss on securities			(207)						59
Gift certificates redeemable			1,015						889
Deferred rent liability			—						98
Property and equipment			(19,802)						(17,118)
Operating lease right-of-use assets			(67,395)						(65,141)
Operating lease liabilities			75,697						72,908
Capitalized research and development costs			60						41
Net deferred income tax asset			$	9,441					$	8,352

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