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Income Taxes (Tables) | 12 Months Ended
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Jan. 29, 2021
Income Tax Disclosure [Abstract] |
Schedule of Income Before Income Taxes | The Company's income (loss) before income taxes in the United States and in foreign jurisdictions is as follows:
(in thousands) |  | Fiscal 2020 |  |  | Fiscal 2019 |  |  | Fiscal 2018 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 173 |  |  | $ | 21,406 |  |  | $ | 16,297 |
Foreign |  |  | 12,419 |  |  |  | (44 | ) |  |  | (6,666 | )
Total income before income taxes |  | $ | 12,592 |  |  | $ | 21,362 |  |  | $ | 9,631 |
Schedule of Components of the Provision for (Benefit from) Income Taxes | The components of the provision for (benefit from) income taxes are as follows:
(in thousands) |  | Fiscal 2020 |  |  | Fiscal 2019 |  |  | Fiscal 2018 |
United States |  | $ | 725 |  |  | $ | 2,105 |  |  | $ | (1,959 | )
Foreign |  |  | 1,031 |  |  |  | (33 | ) |  |  | — |
Total provision (benefit) |  | $ | 1,756 |  |  | $ | 2,072 |  |  | $ | (1,959 | )
(in thousands) |  | Fiscal 2020 |  |  | Fiscal 2019 |  |  | Fiscal 2018 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 8,334 |  |  | $ | 979 |  |  | $ | (4,457 | )
State |  |  | 3,675 |  |  |  | 1,549 |  |  |  | 2,275 |
Foreign |  |  | 517 |  |  |  | — |  |  |  | — |
Total current |  |  | 12,526 |  |  |  | 2,528 |  |  |  | (2,182 | )
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (8,413 | ) |  |  | 340 |  |  |  | 1,650 |
State |  |  | (2,871 | ) |  |  | (763 | ) |  |  | (1,427 | )
Foreign |  |  | 514 |  |  |  | (33 | ) |  |  | — |
Total deferred |  |  | (10,770 | ) |  |  | (456 | ) |  |  | 223 |
Total provision (benefit) |  | $ | 1,756 |  |  | $ | 2,072 |  |  | $ | (1,959 | )
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 2020 |  |  | Fiscal 2019 |  |  | Fiscal 2018 |  |
Tax at statutory federal tax rate |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 21.0 | % |
State income taxes, net of federal tax benefit |  |  | 5.0 | % |  |  | 2.9 | % |  |  | 10.0 | % |
Foreign differential |  |  | 2.7 | % |  |  | (4.0 | )% |  |  | (4.6 | )% |
Permanent differences |  |  | 16.8 | % |  |  | 4.3 | % |  |  | 23.4 | % |
CARES Act |  |  | (24.6 | )% |  |  | — | % |  |  | — | % |
Repatriation of foreign earnings |  |  | — | % |  |  | — | % |  |  | (38.4 | )% |
Uncertain tax benefits |  |  | (1.6 | )% |  |  | (0.8 | )% |  |  | (38.6 | )% |
Change in foreign valuation allowance |  |  | (3.8 | )% |  |  | 4.2 | % |  |  | 19.2 | % |
Foreign branches |  |  | — | % |  |  | (15.9 | )% |  |  | — | % |
Other, net |  |  | (1.6 | )% |  |  | (2.0 | )% |  |  | (12.3 | )% |
Total |  |  | 13.9 | % |  |  | 9.7 | % |  |  | (20.3 | )% |
Summary of Deferred Tax Assets and Liabilities | Deferred tax assets and liabilities consisted of the following:
(in thousands) |  | January 29, 2021 |  |  | January 31, 2020 |  |  | February 1, 2019 |
Deferred tax assets |  |  |  |  |  |  |  |  |  |  |  |
Deferred revenue |  | $ | 4,882 |  |  | $ | 3,797 |  |  | $ | 3,053 |
Legal accruals |  |  | 3,551 |  |  |  | 1,938 |  |  |  | 1,714 |
Deferred compensation |  |  | 16,147 |  |  |  | 12,507 |  |  |  | 10,360 |
Reserve for returns |  |  | 3,072 |  |  |  | 2,654 |  |  |  | 2,271 |
Inventory |  |  | 6,390 |  |  |  | 3,413 |  |  |  | 3,690 |
CTA investment in foreign subsidiaries |  |  | 2,987 |  |  |  | 3,453 |  |  |  | 3,505 |
Operating lease liabilities |  |  | 9,677 |  |  |  | 10,319 |  |  |  | — |
Other |  |  | 2,668 |  |  |  | 2,764 |  |  |  | 3,041 |
Net operating loss carryforward |  |  | 3,093 |  |  |  | 6,018 |  |  |  | 5,117 |
Total deferred tax assets |  |  | 52,467 |  |  |  | 46,863 |  |  |  | 32,751 |
Less valuation allowance |  |  | (3,896 | ) |  |  | (6,526 | ) |  |  | (5,079 | )
Net deferred tax assets |  | $ | 48,571 |  |  | $ | 40,337 |  |  | $ | 27,672 |
Deferred tax liabilities |  |  |  |  |  |  |  |  |  |  |  |
Intangible assets |  | $ | 62,372 |  |  | $ | 62,397 |  |  | $ | 62,959 |
LIFO reserve |  |  | 15,191 |  |  |  | 17,503 |  |  |  | 16,382 |
Property and equipment |  |  | 8,660 |  |  |  | 7,208 |  |  |  | 5,098 |
Operating lease right-of-use assets |  |  | 7,882 |  |  |  | 8,586 |  |  |  | — |
Catalog advertising |  |  | 1,812 |  |  |  | 2,294 |  |  |  | 1,903 |
Total deferred tax liabilities |  |  | 95,917 |  |  |  | 97,988 |  |  |  | 86,342 |
Net deferred tax liability |  | $ | 47,346 |  |  | $ | 57,651 |  |  | $ | 58,670 |
Schedule of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of UTBs is as follows:
|  | Fiscal 2020 |  |  | Fiscal 2019 |  |  | Fiscal 2018 |
Gross UTB balance at beginning of period |  | $ | 1,202 |  |  | $ | 1,458 |  |  | $ | 4,531 |
Tax positions related to the prior periods - gross decreases |  |  | (190 | ) |  |  | (179 | ) |  |  | (2,588 | )
Settlements |  |  | — |  |  |  | (77 | ) |  |  | (485 | )
Gross UTB balance at end of period |  | $ | 1,012 |  |  | $ | 1,202 |  |  | $ | 1,458 |

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