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Income Taxes (Tables) | 12 Months Ended
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Jan. 29, 2023
Income Tax Disclosure [Abstract] |
Schedule of Income Tax Provision | The following table sets forth our income tax provision:
| January 29, 2023 |  | January 30, 2022 |  | January 31, 2021
Current provision: |  |  |  |  |
Federal | $ | 2,366 |  |  | $ | 21,899 |  |  | $ | (78,629) |
State and local | 6,459 |  |  | 4,577 |  |  | (1,360) |
Foreign | 76 |  |  | 333 |  |  | (78) |
Total current provision | 8,901 |  |  | 26,809 |  |  | (80,067) |
| January 29, 2023 |  | January 30, 2022 |  | January 31, 2021
Deferred provision (benefit): |  |  |  |  |
Federal | 25,010 |  |  | (2,354) |  |  | (5,415) |
State and local | 3,142 |  |  | (5,441) |  |  | 1,951 |
Foreign | (522) |  |  | — |  |  | 99 |
Total deferred provision (benefit) | 27,630 |  |  | (7,795) |  |  | (3,365) |
Provision for income taxes | $ | 36,531 |  |  | $ | 19,014 |  |  | $ | (83,432) |
Summary of Reconciliation of Effective Tax Rate To The Federal Income Tax Rate | The following table reconciles the effective tax rate to the federal income tax rate:
| January 29, 2023 |  | January 30, 2022 |  | January 31, 2021
Federal income tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State and local income taxes, net of federal benefit | 5.7 | % |  | 5.0 | % |  | 2.7 | %
Permanent differences | 2.9 | % |  | 2.0 | % |  | (0.2) | %
Tax credits | (5.5) | % |  | (4.9) | % |  | 0.7 | %
Share-based compensation | (1.3) | % |  | (3.6) | % |  | (0.2) | %
Impact of net operating loss carryback | — | % |  | — | % |  | 7.5 | %
Other | (1.8) | % |  | (4.6) | % |  | (2.8) | %
Effective tax rate | 21.0 | % |  | 14.9 | % |  | 28.7 | %
Summary of Components of Deferred Income Tax Liability | Components of the deferred income tax liability, net consist of the following:
| January 29, 2023 |  | January 30, 2022
Deferred tax assets: |  |  |
Deferred revenue | $ | 18,148 |  |  | $ | 27,577 |
Operating lease liability | 434,877 |  |  | 380,145 |
Accrued liabilities | 9,742 |  |  | 2,961 |
Workers compensation and general liability insurance | 4,911 |  |  | 4,068 |
Share-based compensation | 6,372 |  |  | 7,614 |
Hedging transactions | — |  |  | 1,044 |
Net operating loss carryovers | 27,241 |  |  | 8,028 |
Tax credit carryovers | 4,623 |  |  | 943 |
Interest expense carryovers | 524 |  |  | — |
Indirect benefit of unrecognized tax benefits | 418 |  |  | 529 |
Other | 5,274 |  |  | 4,173 |
Subtotal | 512,130 |  |  | 437,082 |
Less: valuation allowance | (3,968) |  |  | (8,501) |
Total deferred tax assets | $ | 508,162 |  |  | $ | 428,581 |
Deferred tax liabilities: |  |  |
Trademark/tradename | $ | 43,866 |  |  | $ | 21,583 |
Property and equipment | 179,549 |  |  | 121,516 |
Operating lease right of use asset | 348,490 |  |  | 287,255 |
Other | 1,977 |  |  | 278 |
Total deferred tax liabilities | $ | 573,882 |  |  | $ | 430,632 |
Deferred tax liability, net | $ | 65,720 |  |  | $ | 2,051 |
Summary of Changes in Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits follows:
| January 29, 2023 |  | January 30, 2022 |  | January 31, 2021
Balance at beginning of year | $ | 3,086 |  |  | $ | 2,564 |  |  | $ | 2,080 |
Additions for tax positions of prior years | — |  |  | 95 |  |  | 28 |
Reductions for tax positions of prior years | (757) |  |  | — |  |  | — |
Additions for tax positions of current year | — |  |  | 757 |  |  | 660 |
Lapse of statute of limitations | (381) |  |  | (330) |  |  | (204) |
Balance at end of year | $ | 1,948 |  |  | $ | 3,086 |  |  | $ | 2,564 |

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