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Income Taxes (Tables)

12 Months Ended

Feb. 04, 2024

Income Tax Disclosure [Abstract]

Schedule of Income Tax Provision

The following table sets forth our income tax provision:

			February 4, 2024						January 29, 2023						January 30, 2022
Current provision:
Federal			$	8.3					$	2.3					$	21.9
State and local			9.4						6.5						4.6
Foreign			1.3						0.1						0.3
Total current provision			19.0						8.9						26.8
Deferred provision:
Federal			16.2						25.0						(2.4)
State and local			2.5						3.1						(5.4)
Foreign			(1.5)						(0.5)						—
Total deferred provision (benefit)			17.2						27.6						(7.8)
Provision for income taxes			$	36.2					$	36.5					$	19.0

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:

			February 4, 2024						January 29, 2023						January 30, 2022
Federal income tax rate			21.0		%				21.0		%				21.0		%
State and local income taxes, net of federal benefit			4.8		%				5.7		%				5.0		%
Permanent differences			2.3		%				2.9		%				2.0		%
Tax credits			(7.7)		%				(5.5)		%				(4.9)		%
Share-based compensation			(0.4)		%				(1.3)		%				(3.6)		%
Other			2.2		%				(1.8)		%				(4.6)		%
Effective tax rate			22.2		%				21.0		%				14.9		%

Summary of Components of Deferred Income Tax Liability

Components of the deferred income tax liability, net consist of the following as of the periods indicated:

			February 04, 2024						January 29, 2023
Deferred tax assets:
Deferred revenue			$	16.9					$	18.1
Long-term lease obligation			426.5						434.8
Accrued liabilities			5.1						9.7
Workers compensation and general liability insurance			5.2						4.9
Share-based compensation			6.2						6.3
Financing obligation			20.9						—
Net operating loss carryovers			4.2						27.2
Tax credit carryovers			7.1						4.6
Excess business interest expense			19.1						0.5
Other			4.0						5.6
Subtotal			515.2						511.7
Less: Valuation allowance			(1.7)						(3.9)
Total deferred tax assets			$	513.5					$	507.8
Deferred tax liabilities:
Trademark/tradename			$	44.1					$	43.8
Property and equipment			197.0						179.5
Right of use assets			341.8						348.4
Other debt related items			11.9						—
Other			2.5						1.9
Total deferred tax liabilities			$	597.3					$	573.6
Deferred tax liability, net			$	83.8					$	65.8

Summary of Changes in Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits follows:

			February 4, 2024						January 29, 2023						January 30, 2022
Balance at beginning of year			$	1.9					$	3.0					$	2.5
Additions for tax positions of prior years			1.1						—						—
Reductions for tax positions of prior years			—						(0.8)						—
Additions for tax positions of current year			6.1						—						0.8
Lapse of statute of limitations			(0.5)						(0.3)						(0.3)
Balance at end of year			$	8.6					$	1.9					$	3.0

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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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