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Note 7 - Income Taxes
 3 Months Ended
Apr. 29, 2023
Notes to Financial Statements  
Income Tax Disclosure [Text Block]

7. Income Taxes

 

The Company's effective tax rate was 24.5% for the thirteen weeks ended April 29, 2023 compared to 22.0% for the thirteen weeks ended April 30, 2022. In the first quarter of fiscal 2023, the effective tax rate differed from the statutory rate of 21% primarily due to state income tax expense.  In the first quarter of fiscal 2022, the 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, in the first quarter of fiscal 2023 and 2022, the Company maintains a full valuation allowance for its deferred tax assets in certain foreign jurisdictions.