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v3.25.1

INCOME TAXES (Tables) | 12 Months Ended
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Feb. 01, 2025
Notes Tables |
Schedule of Components of Income Tax Expense (Benefit) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
($ thousands) |  | 2024 |  | 2023 |  | 2022
Federal |  | ​ |  |  | ​ |  |  | ​ |
Current | ​ | $ | 3,818 | ​ | $ | 10,849 | ​ | $ | 11,506
Deferred | ​ |  | 13,710 | ​ |  | 5,138 | ​ |  | 6,975
Total federal income tax provision | ​ |  | 17,528 | ​ |  | 15,987 | ​ |  | 18,481
State | ​ |  |  | ​ |  |  | ​ |  |
Current | ​ |  | 1,876 | ​ |  | 2,423 | ​ |  | 6,660
Deferred | ​ |  | 4,775 | ​ |  | (9,819) | ​ |  | 3,421
Total state income tax provision (benefit) | ​ |  | 6,651 | ​ |  | (7,396) | ​ |  | 10,081
International | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | ​ | 5,289 | ​ | ​ | 4,879 | ​ | ​ | 4,759
Deferred | ​ |  | (407) | ​ |  | (3,980) | ​ |  | 18
Total international income tax provision | ​ |  | 4,882 | ​ |  | 899 | ​ |  | 4,777
Total income tax provision | ​ | $ | 29,061 | ​ | $ | 9,490 | ​ | $ | 33,339
Schedule of Effective Income Tax Rate Reconciliation | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
($ thousands) |  | 2024 |  | 2023 |  | 2022
Income taxes at statutory rate | ​ | $ | 28,383 | ​ | $ | 38,078 | ​ | $ | 44,737
State income taxes, net of federal tax benefit | ​ |  | 4,514 | ​ |  | 5,710 | ​ |  | 8,981
International earnings taxed at differing rates from U.S. statutory | ​ |  | (3,584) | ​ |  | (5,367) | ​ |  | (1,974)
Share-based compensation | ​ |  | (2,647) | ​ |  | (3,106) | ​ |  | (602)
Valuation allowances, net | ​ |  | (2,204) | ​ |  | (30,054) | ​ |  | (20,743)
Non-deductibility of 162(m) limitations | ​ | ​ | 3,401 | ​ | ​ | 4,373 | ​ | ​ | 3,363
GILTI, BEAT and FDII provisions | ​ |  | 1,307 | ​ |  | 427 | ​ |  | 422
Other (1) | ​ |  | (109) | ​ |  | (571) | ​ |  | (845)
Total income tax provision | ​ | $ | 29,061 | ​ | $ | 9,490 | ​ | $ | 33,339
(1) | The other category of income tax provision principally represents the impact of expenses that are not deductible or partially deductible for federal income tax purposes and the impact of any return-to-provision adjustments.
Schedule of Deferred Tax Assets and Liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
($ thousands) |  | February 1, 2025 |  | February 3, 2024
Deferred Tax Assets |  | ​ |  |  | ​ |
Lease obligations | ​ | $ | 158,310 | ​ | $ | 148,242
Goodwill | ​ | ​ | 30,308 | ​ | ​ | 34,386
Net operating loss carryforward/carryback | ​ |  | 6,551 | ​ |  | 10,107
Accrued expenses | ​ |  | 14,053 | ​ |  | 17,870
Employee benefits, compensation and insurance | ​ | ​ | 10,954 | ​ | ​ | 15,689
Accounts receivable | ​ |  | 4,043 | ​ |  | 6,094
Inventory capitalization and inventory reserves | ​ |  | 6,532 | ​ |  | 6,623
Impairment of investment in nonconsolidated affiliate | ​ |  | 1,418 | ​ |  | 1,470
Postretirement and postemployment benefit plans | ​ |  | 201 | ​ |  | 207
Other | ​ |  | 3,444 | ​ |  | 1,605
Total deferred tax assets, before valuation allowance | ​ |  | 235,814 | ​ |  | 242,293
Valuation allowance | ​ |  | (3,406) | ​ |  | (7,153)
Total deferred tax assets, net of valuation allowance | ​ | $ | 232,408 | ​ | $ | 235,140
​ | ​ |  |  | ​ |  |
Deferred Tax Liabilities | ​ |  |  | ​ |  |
Lease right-of-use assets | ​ | $ | (149,414) | ​ | $ | (138,315)
Intangible assets | ​ | ​ | (15,472) | ​ | ​ | (13,659)
LIFO inventory valuation | ​ |  | (54,808) | ​ |  | (51,021)
Retirement plans | ​ |  | (18,184) | ​ |  | (17,239)
Capitalized software | ​ |  | (1,797) | ​ |  | (1,800)
Depreciation | ​ |  | (17,100) | ​ |  | (16,822)
Other | ​ |  | (2,579) | ​ |  | (3,419)
Total deferred tax liabilities | ​ |  | (259,354) | ​ |  | (242,275)
Net deferred tax liability | ​ | $ | (26,946) | ​ | $ | (7,135)

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
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