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Note 7 - Income Taxes
 9 Months Ended
Oct. 29, 2022
Notes to Financial Statements  
Income Tax Disclosure [Text Block]

7. Income Taxes

 

The Company's effective tax rate was 24.6% and 23.1% for the thirteen and thirty-nine weeks ended October 29, 2022 compared to 25.1% and 24.3% for the thirteen and thirty-nine weeks ended October 30, 2021. The 2022 effective tax rate differed from the statutory rate of 21% primarily due to state income tax expense partially offset by the tax impact of equity awards vesting. In addition, the Company remains in a full valuation allowance in certain foreign jurisdictions. The 2021 effective rate differed from the statutory rate of 21% primarily due to state income tax expense partially offset by the tax impact of equity awards vesting. In addition, while the Company was still in a full valuation allowance globally, it recorded tax expense on the pretax income earned based on its projected current tax expense.