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Income Taxes (Tables)

12 Months Ended

Feb. 02, 2020

Income Taxes [Abstract]

Components of Income Tax Expense


		Fiscal Year Ended


		February 2, 2020			February 3, 2019			January 28, 2018
(in thousands)
Current:
Federal		$	4,727		$	(589)		$	9,118
State			1,308			1,040			2,227
			6,035			451			11,345
Deferred:
Federal			(568)			6,971			658
State			(38)			1,028			(125)
			(606)			7,999			533
Total income tax expense		$	5,429		$	8,450		$	11,878



Reconciliation of Income Tax Expense to Amount Computed at Federal Statutory Rate


		Fiscal Year Ended

		February 2, 2020						February 3, 2019						January 28, 2018
(in thousands)
Federal taxes at statutory rate		$	5,114		21.0	%		$	6,637		21.0	%		$	11,939		33.9	%
Statutory rate change			—		—	%			—		—	%			(1,510)		(4.3)	%
State and local income taxes, net of federal benefit			965		4.0	%			1,679		5.3	%			1,410		4.0	%
Research and development tax credits			(487)		(2.0)	%			—		—	%			—		—	%
Other			(163)		(0.7)	%			134		0.4	%			39		0.1	%
Total income tax expense		$	5,429		22.3	%		$	8,450		26.7	%		$	11,878		33.7	%



Significant Components of Deferred Tax Assets and Liabilities



		February 2, 2020			February 3, 2019
(in thousands)
Deferred tax assets:
Returns allowance		$	912		$	543
Uniform capitalization			2,930			1,020
Inventory			(27)			661
Deferred rent			—			1,380
Accruals			388			6,337
Stock-based compensation			352			343
Advance payments			820			494
Capital lease			—			81
Net operating loss carryover			—			325
Federal credit carryover			—			17
Total deferred tax assets			5,375			11,201

Deferred tax liabilities:
Property and equipment			10,346			19,739
Unrealized gain on investment			66			—
Prepaid expenses			857			1,120
Goodwill and intangibles			66			64
Capital lease			2,358			—
Revenue recognition method adjustment			187			—
Total deferred tax liabilities			13,880			20,923
Net deferred tax liabilities		$	8,505		$	9,722



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- 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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
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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.

+ 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
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