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v3.20.1

Income Taxes (Tables) | 12 Months Ended
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Jan. 31, 2020
Income Tax Disclosure [Abstract] |
Schedule of Income Before Income Taxes | The Company's income before income taxes in the United States and in foreign jurisdictions is as follows:
(in thousands) |  | Fiscal 2019 |  |  | Fiscal 2018 |  |  | Fiscal 2017 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 21,406 |  |  | $ | 16,297 |  |  | $ | 9,011 |
Foreign |  |  | (44 | ) |  |  | (6,666 | ) |  |  | (8,563 | )
Total income before income taxes |  | $ | 21,362 |  |  | $ | 9,631 |  |  | $ | 448 |
Schedule of Components of the Provision for Income Taxes | The components of the provision for (benefit from) income taxes are as follows:
(in thousands) |  | Fiscal 2019 |  |  | Fiscal 2018 |  |  | Fiscal 2017 |
United States |  | $ | 2,105 |  |  | $ | (1,959 | ) |  | $ | (27,623 | )
Foreign |  |  | (33 | ) |  |  | — |  |  |  | (124 | )
Total provision (benefit) |  | $ | 2,072 |  |  | $ | (1,959 | ) |  | $ | (27,747 | )
(in thousands) |  | Fiscal 2019 |  |  | Fiscal 2018 |  |  | Fiscal 2017 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 979 |  |  | $ | (4,457 | ) |  | $ | 4,804 |
State |  |  | 1,549 |  |  |  | 2,275 |  |  |  | 330 |
Foreign |  |  | — |  |  |  | — |  |  |  | (124 | )
Total current |  |  | 2,528 |  |  |  | (2,182 | ) |  |  | 5,010 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | 340 |  |  |  | 1,650 |  |  |  | (34,901 | )
State |  |  | (763 | ) |  |  | (1,427 | ) |  |  | 2,144 |
Foreign |  |  | (33 | ) |  |  | — |  |  |  | — |
Total deferred |  |  | (456 | ) |  |  | 223 |  |  |  | (32,757 | )
Total provision (benefit) |  | $ | 2,072 |  |  | $ | (1,959 | ) |  | $ | (27,747 | )
Reconciliation of the Effective Income Tax Rate | A reconciliation of the statutory federal income tax rate to the effective income tax rate is as follows:
|  | Fiscal 2019 |  |  | Fiscal 2018 |  |  | Fiscal 2017 |  |
Tax at statutory federal tax rate |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 33.8 | % | *
State income taxes, net of federal tax benefit |  |  | 2.9 | % |  |  | 10.0 | % |  |  | 103.5 | % |
Foreign differential |  |  | (4.0 | )% |  |  | (4.6 | )% |  |  | 108.6 | % |
Permanent differences |  |  | 4.3 | % |  |  | 23.4 | % |  |  | 383.1 | % |
Tax law changes |  |  | — | % |  |  | — | % |  |  | (7,793.7 | )% |
Repatriation of foreign earnings |  |  | — | % |  |  | (38.4 | )% |  |  | 950.9 | % |
Uncertain tax benefits |  |  | (0.8 | )% |  |  | (38.6 | )% |  |  | (600.1 | )% |
Change in foreign valuation allowance |  |  | 4.2 | % |  |  | 19.2 | % |  |  | 509.8 | % |
Foreign branches |  |  | (15.9 | )% |  |  | — | % |  |  | — | % |
Other, net |  |  | (2.0 | )% |  |  | (12.3 | )% |  |  | 110.6 | % |
Total |  |  | 9.7 | % |  |  | (20.3 | )% |  |  | (6,193.5 | )% |
Summary of Deferred Tax Assets and Liabilities | Deferred tax assets and liabilities consisted of the following:
(in thousands) |  | January 31, 2020 |  |  | February 1, 2019 |  |  | February 2, 2018 |
Deferred tax assets |  |  |  |  |  |  |  |  |  |  |  |
Deferred revenue |  | $ | 3,797 |  |  | $ | 3,053 |  |  | $ | 3,292 |
Legal accruals |  |  | 1,938 |  |  |  | 1,714 |  |  |  | 1,512 |
Deferred compensation |  |  | 12,507 |  |  |  | 10,360 |  |  |  | 4,029 |
Reserve for returns |  |  | 2,654 |  |  |  | 2,271 |  |  |  | 2,301 |
Inventory |  |  | 3,413 |  |  |  | 3,690 |  |  |  | 3,099 |
CTA investment in foreign subsidiaries |  |  | 3,453 |  |  |  | 3,505 |  |  |  | 2,816 |
Operating lease liabilities |  |  | 10,319 |  |  |  | — |  |  |  | — |
Other |  |  | 2,764 |  |  |  | 3,041 |  |  |  | 4,330 |
Net operating loss carryforward |  |  | 6,018 |  |  |  | 5,117 |  |  |  | 2,284 |
Total deferred tax assets |  |  | 46,863 |  |  |  | 32,751 |  |  |  | 23,663 |
Less valuation allowance |  |  | (6,526 | ) |  |  | (5,079 | ) |  |  | (2,284 | )
Net deferred tax assets |  | $ | 40,337 |  |  | $ | 27,672 |  |  | $ | 21,379 |
Deferred tax liabilities |  |  |  |  |  |  |  |  |  |  |  |
Intangible assets |  | $ | 62,397 |  |  | $ | 62,959 |  |  | $ | 62,754 |
LIFO reserve |  |  | 17,503 |  |  |  | 16,382 |  |  |  | 16,659 |
Property and equipment |  |  | 7,208 |  |  |  | 5,098 |  |  |  | — |
Operating lease right-of-use assets |  |  | 8,586 |  |  |  | — |  |  |  | — |
Catalog advertising |  |  | 2,294 |  |  |  | 1,903 |  |  |  | 1,103 |
Total deferred tax liabilities |  |  | 97,988 |  |  |  | 86,342 |  |  |  | 80,516 |
Net deferred tax liability |  | $ | 57,651 |  |  | $ | 58,670 |  |  | $ | 59,137 |
Schedule of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of UTBs is as follows:
|  | Fiscal 2019 |  |  | Fiscal 2018 |  |  | Fiscal 2017 |
Gross UTB balance at beginning of period |  | $ | 1,458 |  |  | $ | 4,531 |  |  | $ | 6,901 |
Tax positions related to the current period - gross increase |  |  | — |  |  |  | — |  |  |  | — |
Tax positions related to the prior periods - gross decreases |  |  | (179 | ) |  |  | (2,588 | ) |  |  | (2,370 | )
Settlements |  |  | (77 | ) |  |  | (485 | ) |  |  | — |
Lapse of statutes of limitations |  |  |  |  |  |  | — |  |  |  | — |
Gross UTB balance at end of period |  | $ | 1,202 |  |  | $ | 1,458 |  |  | $ | 4,531 |

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