XML 42 R28.htm IDEA: XBRL DOCUMENT
v3.22.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Jan. 28, 2022
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 2021 |  |  | Fiscal 2020 |  |  | Fiscal 2019 |
Income (loss) before income taxes |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 52,963 |  |  | $ | 173 |  |  | $ | 21,406 |
Foreign |  |  | (6,994 | ) |  |  | 12,419 |  |  |  | (44 | )
Total income before income taxes |  | $ | 45,969 |  |  | $ | 12,592 |  |  | $ | 21,362 |
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 2021 |  |  | Fiscal 2020 |  |  | Fiscal 2019 |
United States |  | $ | 12,215 |  |  | $ | 725 |  |  | $ | 2,105 |
Foreign |  |  | 385 |  |  |  | 1,031 |  |  |  | (33 | )
Total provision |  | $ | 12,600 |  |  | $ | 1,756 |  |  | $ | 2,072 |
(in thousands) |  | Fiscal 2021 |  |  | Fiscal 2020 |  |  | Fiscal 2019 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 11,370 |  |  | $ | 8,334 |  |  | $ | 979 |
State |  |  | 1,627 |  |  |  | 3,675 |  |  |  | 1,549 |
Foreign |  |  | 385 |  |  |  | 517 |  |  |  | — |
Total current |  |  | 13,382 |  |  |  | 12,526 |  |  |  | 2,528 |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (1,426 | ) |  |  | (8,413 | ) |  |  | 340 |
State |  |  | 644 |  |  |  | (2,871 | ) |  |  | (763 | )
Foreign |  |  | — |  |  |  | 514 |  |  |  | (33 | )
Total deferred |  |  | (782 | ) |  |  | (10,770 | ) |  |  | (456 | )
Total provision |  | $ | 12,600 |  |  | $ | 1,756 |  |  | $ | 2,072 |
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 2021 |  |  | Fiscal 2020 |  |  | Fiscal 2019 |  |
Tax at statutory federal tax rate |  |  | 21.0 | % |  |  | 21.0 | % |  |  | 21.0 | % |
State income taxes, net of federal tax benefit |  |  | 3.9 | % |  |  | 5.0 | % |  |  | 2.9 | % |
Foreign differential |  |  | (5.2 | )% |  |  | 2.7 | % |  |  | (4.0 | )% |
Permanent differences |  |  | 1.9 | % |  |  | 16.8 | % |  |  | 4.3 | % |
CARES Act |  |  | — | % |  |  | (24.6 | )% |  |  | — | % |
Uncertain tax benefits |  |  | 1.1 | % |  |  | (1.6 | )% |  |  | (0.8 | )% |
Change in foreign valuation allowance |  |  | 4.9 | % |  |  | (3.8 | )% |  |  | 4.2 | % |
Foreign branches |  |  | — | % |  |  | — | % |  |  | (15.9 | )% |
Other, net |  |  | (0.2 | )% |  |  | (1.6 | )% |  |  | (2.0 | )% |
Total |  |  | 27.4 | % |  |  | 13.9 | % |  |  | 9.7 | % |
Summary of Deferred Tax Assets and Liabilities | Deferred tax assets and liabilities consisted of the following:
(in thousands) |  | January 28, 2022 |  |  | January 29, 2021 |  |  | January 31, 2020 |
Deferred tax assets |  |  |  |  |  |  |  |  |  |  |  |
Deferred revenue |  | $ | 6,528 |  |  | $ | 4,882 |  |  | $ | 3,797 |
Legal accruals |  |  | 2,461 |  |  |  | 3,551 |  |  |  | 1,938 |
Deferred compensation |  |  | 18,328 |  |  |  | 16,147 |  |  |  | 12,507 |
Reserve for returns |  |  | 2,958 |  |  |  | 3,072 |  |  |  | 2,654 |
Inventory |  |  | 3,730 |  |  |  | 6,390 |  |  |  | 3,413 |
CTA investment in foreign subsidiaries |  |  | 3,361 |  |  |  | 2,987 |  |  |  | 3,453 |
Operating lease liabilities |  |  | 8,677 |  |  |  | 9,677 |  |  |  | 10,319 |
Other |  |  | 2,402 |  |  |  | 2,668 |  |  |  | 2,764 |
Net operating loss carryforward |  |  | 5,211 |  |  |  | 3,093 |  |  |  | 6,018 |
Total deferred tax assets |  |  | 53,656 |  |  |  | 52,467 |  |  |  | 46,863 |
Less valuation allowance |  |  | (6,009 | ) |  |  | (3,896 | ) |  |  | (6,526 | )
Net deferred tax assets |  | $ | 47,647 |  |  | $ | 48,571 |  |  | $ | 40,337 |
Deferred tax liabilities |  |  |  |  |  |  |  |  |  |  |  |
Intangible assets |  | $ | 62,295 |  |  | $ | 62,372 |  |  | $ | 62,397 |
LIFO reserve |  |  | 18,118 |  |  |  | 15,191 |  |  |  | 17,503 |
Property and equipment |  |  | 4,396 |  |  |  | 8,660 |  |  |  | 7,208 |
Operating lease right-of-use assets |  |  | 7,089 |  |  |  | 7,882 |  |  |  | 8,586 |
Catalog advertising |  |  | 1,940 |  |  |  | 1,812 |  |  |  | 2,294 |
Total deferred tax liabilities |  |  | 93,838 |  |  |  | 95,917 |  |  |  | 97,988 |
Net deferred tax liability |  | $ | 46,191 |  |  | $ | 47,346 |  |  | $ | 57,651 |
Schedule of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of UTBs is as follows:
|  | Fiscal 2021 |  |  | Fiscal 2020 |  |  | Fiscal 2019 |
Gross UTB balance at beginning of period |  | $ | 1,012 |  |  | $ | 1,202 |  |  | $ | 1,458 |
Tax positions related to the prior periods - gross increases (decreases) |  |  | 539 |  |  |  | (190 | ) |  |  | (179 | )
Settlements |  |  | (74 | ) |  |  | — |  |  |  | (77 | )
Gross UTB balance at end of period |  | $ | 1,477 |  |  | $ | 1,012 |  |  | $ | 1,202 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=124434304&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration