XML 70 R47.htm IDEA: XBRL DOCUMENT v3.21.1
INCOME TAXES (Details) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Jan. 30, 2021
May 02, 2020
Feb. 01, 2020
May 04, 2019
Jan. 30, 2021
Feb. 01, 2020
Feb. 02, 2019
Current Income Tax Expense (Benefit), Continuing Operations [Abstract]              
U.S.         $ (250,876) $ 36,660 $ 49,820
Foreign         39,118 51,757 58,704
Income (loss) from continuing operations before income taxes $ 10,288 $ (174,983) $ 27,736 [1] $ 3,327 (211,758) 88,417 108,524
Federal         (45,072) 1,810 594
State         212 1,186 2,519
Foreign         5,728 6,757 10,019
Total current         (39,132) 9,753 13,132
Federal         (14,274) 4,240 (3,418)
State         (15,968) 1,066 (2,324)
Foreign         (2,019) 58 174
Total deferred         (32,660) 5,364 (5,568)
Total tax provision 2,524 (60,173) 3,497 [1] (1,163) $ (71,393) $ 15,117 $ 7,564
Effective tax rate from continuing operations (as a percent)         33.70% 17.10% 7.00%
Deferred Income Taxes, Current –              
Calculated income tax provision at federal statutory rate         $ (44,471) $ 18,568 $ 22,790
State income taxes, net of federal benefit         (12,447) 1,779 154
Foreign tax rate differential         (5,791) (5,019) (3,801)
Nondeductible expenses         2,654 1,491 861
Excess tax benefits related to stock compensation         3,800 4,300 7,200
Share-based Payment Arrangement, Exercise of Option, Tax Benefit         2,051 (1,914)  
U.S. transition taxes on deemed repatriation of foreign earnings         0 0  
Revaluation of deferred tax assets and liabilities         0 0  
Unrecognized tax expense (benefit)         (1,150) (1,304) (1,092)
Foreign tax credits         (10) (21) (62)
Other         32 (117) (310)
Total tax provision 2,524 (60,173) 3,497 [1] (1,163) (71,393) 15,117 7,564
Assets              
Inventory 1,880   1,620   1,880 1,620  
Noncurrent –              
Property and equipment (7,406)   (13,016)   (7,406) (13,016)  
Equity compensation 843   2,288   843 2,288  
Reserves and other 16,302   8,994   16,302 8,994  
Net Operating Loss Carryover 11,240   91   11,240 91  
Valuation allowance (916)   (916)   (916) (916)  
Net noncurrent 45,579   12,941   45,579 12,941  
Total deferred tax asset, net 45,579   12,941   45,579 12,941  
Beginning Balance   $ 6,655   $ 5,002 6,655 5,002  
Additions for current year tax positions         1,256 1,399  
Additions for prior year tax positions         120 270  
Reductions for prior year tax positions         0 0  
Settlements         0 (57)  
Reductions due to a lapse of the applicable statute of limitations         0 0  
Unrecognized Tax Benefits, Ending Balance 8,060   6,655   8,060 6,655 $ 5,002
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]              
Prepaid expenses (817)   (735)   (817) (735)  
Foreign and state tax on unremitted earnings (1,554)   (1,561)   (1,554) (1,561)  
Deferred Tax Assets, Capital Loss Carryforwards $ 0   $ (270)   $ 0 $ (270)  
[1]
Fiscal Year Ended February 1, 2020
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
(in thousands, except earnings per share)
Net sales$412,382 $420,470 $524,796 $513,019 
Gross profit151,976 138,846 198,125 166,358 
Selling, general, and administrative expenses128,006 116,417 120,514 113,183 
Asset impairment charges348 121 839 4,731 
Other (income) costs— — — — 
Depreciation and amortization18,584 18,472 18,821 18,911 
Operating income 5,038 3,836 57,951 29,533 
Income before provision for income taxes3,327 1,558 55,796 27,736 
Provision (benefit) for income taxes(1,163)35 12,748 3,497 
Net income $4,490 $1,523 $43,048 $24,239 
Diluted earnings per share$0.28 $0.10 $2.77 $1.61 
Diluted weighted average common shares outstanding16,107 15,859 15,546 15,101 
Cash dividends declared and paid per common share$0.56 $0.56 $0.56 $0.56