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Income Taxes
 9 Months Ended
Nov. 02, 2025
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block]

13. Income Taxes

 

For the third quarters of fiscal 2026 and fiscal 2025, we recorded income tax benefits of $3.6 million and $1.2 million on the pretax loss from continuing operations, and tax benefits of $3.3 million and $1.6 million on the pretax loss from discontinued operations. The consolidated effective tax rates for these periods were 24.5% and 40.7%, respectively. The higher fiscal 2025 third-quarter effective tax rate was primarily due to the annualization method, which resulted in the recognition of additional income tax benefits from previous quarters.

 

For the nine-month periods of fiscal 2026 and fiscal 2025, we recorded income tax benefits of $3.9 million and $2.0 million on the pretax loss from continuing operations, and tax benefits of $4.9 million and $1.5 million on the pretax loss from discontinued operations. Of the $4.9 million in tax benefits from discontinued operations, $3.3 million relates to discontinued operations and $1.6 million relates to assets held for sale. The consolidated effective tax rates for these periods were 24.3% and 26.0%, respectively. The higher fiscal 2025 effective tax rate reflects the impact of favorable tax adjustments including the cash surrender value gain on company-owned life insurance applied to a lower pretax loss.

 

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

 

Tax years ending January 29, 2023 through February 2, 2025 remain subject to examination by federal and state taxing authorities.