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Income Taxes (Tables)

12 Months Ended

Feb. 01, 2025

Income Tax Disclosure [Abstract]

Components of Earnings (loss) from Continuing Operations Before Income Taxes

The components of earnings (loss) from continuing operations before income taxes is comprised of the following:

		Fiscal Year
(In thousands)		2025				2024				2023
United States		$	(1,476	)		$	(43,859	)		$	68,326
Foreign			10,784				22,085				21,747
Total Earnings (Loss) from Continuing Operations before Income Taxes		$	9,308			$	(21,774	)		$	90,073

Income Tax Expense

Income tax expense from continuing operations is comprised of the following:

		Fiscal Year
(In thousands)		2025				2024				2023
Current
U.S. federal		$	1,711			$	(3,672	)		$	39,095
International			2,007				3,419				2,984
State			1,100				744				3,805
Total Current Income Tax Expense			4,818				491				45,884
Deferred
U.S. federal			20,226				(5,060	)			(25,704	)
International			515				1,074				748
State			6,017				7,438				(1,438	)
Total Deferred Income Tax Expense (Benefit)			26,758				3,452				(26,394	)
Net Interest Related to Income Taxes
U.S. federal			(3,062	)			(2,728	)			(1,662	)
International			—				—				—
State			203				66				3
Total Net Interest Related to Income Taxes			(2,859	)			(2,662	)			(1,659	)
Tax Expense Recognized for Unrecognized Tax Benefits (“UTBS”) in the Statement of Operations
U.S. federal			—				—				—
International			—				—				—
State			103				573				—
Total Tax Expense Recognized for UTBS in the Statement of Operations			103				573				—
Total Income Tax Expense – Continuing Operations		$	28,820			$	1,854			$	17,831

Reconciliation of Federal Statutory Rate

Reconciliation of the United States federal statutory rate to our effective tax rate from continuing operations is as follows:

		Fiscal Year
		2025				2024				2023
U. S. federal statutory rate of tax			21.00	%			21.00	%			21.00	%
State taxes (net of federal tax benefit)			1.06				(0.92	)			2.08
Foreign rate differential			1.89				0.76				(0.02	)
Change in valuation allowance			305.14				(33.57	)			(1.12	)
Uncertain tax position			1.10				(2.63	)			—
Credits			(9.83	)			4.54				(1.18	)
Global intangible low-tax income			—				(2.34	)			—
Permanent items			11.56				(4.50	)			0.64
IRS interest			(25.99	)			9.90				(1.46	)
Other			3.70				(0.75	)			(0.14	)
Effective Tax Rate			309.63	%			(8.51	)%			19.80	%

Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities are comprised of the following:

(In thousands)	February 1, 2025				February 3, 2024
Pensions	$	738			$	348
Lease obligation		126,744				127,220
Book over tax depreciation		14,359				12,976
Expense accruals		8,509				10,054
Uniform capitalization costs		8,840				7,515
Provisions for discontinued operations and restructurings		723				561
IRC Section 163 interest limitation		—				1,049
Inventory valuation		1,356				1,235
Tax net operating loss and credit carryforwards		23,732				24,164
Allowances for bad debts and notes		484				915
Deferred compensation and restricted stock		2,694				2,773
Outside basis difference		816				—
Identified intangibles		5,414				5,987
Other		30				33
Gross deferred tax assets		194,439				194,830
Deferred tax asset valuation allowance		(72,355	)			(43,961	)
Deferred tax asset net of valuation allowance		122,084				150,869
Identified intangibles		(5,220	)			(5,318	)
Right of use asset		(119,945	)			(119,658	)
Tax over book depreciation		—				(2,736	)
Other		(993	)			(555	)
Gross deferred tax liabilities		(126,158	)			(128,267	)
Net Deferred Tax Assets (Liabilities)	$	(4,074	)		$	22,602

Deferred Tax Balances

The deferred tax balances have been classified in our Consolidated Balance Sheets as follows:

		As of Fiscal Year Ended
(In thousands)		2025				2024
Net non-current asset		$	389			$	26,230
Net non-current liability			(4,463	)			(3,628	)
Net Deferred Tax Assets (Liabilities)		$	(4,074	)		$	22,602

Reconciliation of Total Amounts of Unrecognized Tax Benefits

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits.

		Fiscal Year
(In thousands)		2025				2024				2023
Unrecognized Tax Benefit – Beginning of Period		$	751			$	178			$	178
Gross Decreases – Tax Positions in a Prior Period			(144	)			—				—
Gross Increases – Tax Positions in a Prior Period			541				—				—
Gross Increases – Tax Positions in a Current Period			57				573				—
Settlements			(541	)			—				—
Unrecognized Tax Benefit – End of Period		$	664			$	751			$	178

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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.

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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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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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