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Income Taxes
 9 Months Ended
Oct. 27, 2024
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block]

12.          Income Taxes

 

We recorded income tax benefit of $2.8 million for the fiscal 2025 third quarter, compared to $2.0 million income tax expense in the comparable prior year quarter. The effective tax rates for the fiscal 2025 and 2024 third quarters were 40.7% and 22.4%, respectively. The increase in the fiscal 2025 third-quarter effective tax rate was primarily due to the annualization method, which resulted in the recognition of income tax benefits from previous quarters. For the fiscal 2025 nine-month period, we recorded income tax benefit of $3.6 million compared to the income tax expense of $2.6 million for the previous year’s comparable period. The effective tax rates for the fiscal 2025 and 2024 nine-month periods were 26.0% and 22.0%, respectively.

 

No material and non-routine positions have been identified as uncertain tax positions.

 

Tax years ending January 31, 2021 through January 28, 2024 remain subject to examination by federal and state taxing authorities.