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Income Taxes (Tables)

12 Months Ended

Jan. 31, 2026

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)		2026				2025				2024
United States		$	19,346			$	(1,476	)		$	(43,859	)
Foreign			(6,755	)			10,784				22,085
Total Earnings (Loss) from Continuing Operations before Income Taxes		$	12,591			$	9,308			$	(21,774	)

Income Tax Expense

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

		Fiscal Year
(In thousands)		2026				2025				2024
Current
U.S. federal		$	904			$	1,711			$	(3,672	)
International			(206	)			2,007				3,419
State			648				1,100				744
Total Current Income Tax Expense			1,346				4,818				491
Deferred
U.S. federal			(58	)			20,226				(5,060	)
International			(1,151	)			515				1,074
State			1				6,017				7,438
Total Deferred Income Tax Expense (Benefit)			(1,208	)			26,758				3,452
Net Interest Related to Income Taxes
U.S. federal			(931	)			(3,062	)			(2,728	)
International			—				—				—
State			(5	)			203				66
Total Net Interest Related to Income Taxes			(936	)			(2,859	)			(2,662	)
Tax Expense Recognized for Unrecognized Tax Benefits (“UTBS”) in the Statement of Operations
U.S. federal			—				—				—
International			—				—				—
State			113				103				573
Total Tax Expense Recognized for UTBS in the Statement of Operations			113				103				573
Total Income Tax Expense (Benefit) – Continuing Operations		$	(685	)		$	28,820			$	1,854

Reconciliation of Federal Statutory Rate

Reconciliation of the United States federal statutory rate to our effective tax rate from continuing operations for Fiscal 2026 is as follows:

					Effective
	Fiscal Year				Income Tax
($ In thousands)	2026				Rate %
Earnings from continuing operations before income taxes	$	12,591			NA
Statutory U.S. income tax rate		21	%		NA
Tax expense using statutory U.S. income tax rate		2,644				21	%
State and local income taxes, net of federal income tax effect (1)		508				4	%
Foreign tax effects:
U.K.:
Statutory rate difference between U.K. and U.S.		(239	)			(2	)%
Valuation allowance		511				4	%
Nontaxable branch income		(419	)			(3	)%
Other		(373	)			(3	)%
Subtotal U.K.		(520	)			(4	)%
ROI:
Statutory rate difference between ROI and U.S.		263				2	%
Valuation allowance		416				3	%
Other		(14	)			0	%
Subtotal ROI		665				5	%
Other foreign jurisdictions		(55	)			0	%
Total foreign tax effects		90				1	%
Tax credits:
Work opportunity tax credit		(938	)			(8	)%
Changes in valuation allowance		(4,061	)			(32	)%
Nontaxable or nondeductible items:
Limitation on excess compensation		820				7	%
Share-based payment awards		676				5	%
Other		237				2	%
Change in UTBs		113				1	%
Other adjustments:
Interest & penalties - income tax		(735	)			(6	)%
Other		(39	)			0	%
Income Tax Benefit/Effective Tax Rate	$	(685	)			(5	)%

(1)Texas makes up the majority of the state tax effect.

Note 11

Income Taxes, Continued

Reconciliation of the United States federal statutory rate to our effective tax rate from continuing operations for Fiscal 2025 and Fiscal 2024 is as follows:

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

Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities are comprised of the following:

(In thousands)	January 31, 2026				February 1, 2025
Pensions	$	1,047			$	738
Lease obligation		135,366				126,744
Book over tax depreciation		13,487				14,359
Expense accruals		9,201				8,509
Uniform capitalization costs		8,861				8,840
Provisions for discontinued operations and restructurings		648				723
Inventory valuation		1,614				1,356
Tax net operating loss and credit carryforwards		26,632				23,732
Allowances for bad debts and notes		373				484
Deferred compensation and restricted stock		2,559				2,694
Outside basis difference		381				816
Identified intangibles		4,942				5,414
Other		30				30
Gross deferred tax assets		205,141				194,439
Deferred tax asset valuation allowance		(71,174	)			(72,355	)
Deferred tax asset net of valuation allowance		133,967				122,084
Identified intangibles		(5,764	)			(5,220	)
Right of use asset		(128,501	)			(119,945	)
Tax over book depreciation		(1,470	)			—
Other		(1,487	)			(993	)
Gross deferred tax liabilities		(137,222	)			(126,158	)
Net Deferred Tax Liabilities	$	(3,255	)		$	(4,074	)

Deferred Tax Balances

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

		As of Fiscal Year Ended
(In thousands)		2026				2025
Net non-current asset		$	249			$	389
Net non-current liability			(3,504	)			(4,463	)
Net Deferred Tax Liabilities		$	(3,255	)		$	(4,074	)

Summary of Benefit Relating to Operating Loss and Credit Carryforwards

The benefit relating to operating loss and credit carryforwards discussed above as of January 31, 2026, consisted of the following:

		January 31, 2026
(In thousands)		Gross Carryforward				Benefit Amount				Valuation Allowance
State operating loss carryforwards		$	183,934			$	11,301			$	(11,301	)
State credit carryforwards			-				593				(593	)
Foreign tax credit carryforwards			-				2,331				(2,331	)
U.K. operating loss carryforwards			7,982				1,995				-
ROI operating loss carryforwards			12,603				1,575				(1,575	)
Puerto Rico operating loss carryforwards			130				49				-
Canada operating loss carryforwards		$	33,501				8,788				(8,788	)
Total Benefit Amount/Valuation Allowance						$	26,632			$	(24,588	)

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)		2026				2025				2024
Unrecognized Tax Benefit – Beginning of Period		$	664			$	751			$	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			62				57				573
Settlements			—				(541	)			—
Unrecognized Tax Benefit – End of Period		$	726			$	664			$	751

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