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Note 7 - Income Taxes
 9 Months Ended
Nov. 02, 2024
Notes to Financial Statements  
Income Tax Disclosure [Text Block]

7. Income Taxes

 

The Company's effective tax rate was 24.5% and 24.1% for the thirteen and thirty-nine weeks ended November 2, 2024, respectively, compared to 26.7% and 24.0% for the thirteen and thirty-nine weeks ended October 28, 2023, respectively.  The 2024 and 2023 effective tax rates 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 the fourth quarter of fiscal 2023, the Company reversed the valuation allowance on deferred tax assets expected to be realized in the U.K. The Company remains in a full valuation in certain other foreign jurisdictions.