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Income Taxes (Tables)

12 Months Ended

Jan. 28, 2023

Income Tax Disclosure [Abstract]

Provision for Income Taxes

For the fiscal years ended January 28, 2023, January 29, 2022, and January 30, 2021, the income tax provision consisted of the following:

		January 28,				January 29,				January 30,
		2023				2022				2021
Current:
Federal		$	6,853			$	23,107			$	24,023
State			2,737				7,312				6,991
Total current			9,590				30,419				31,014
Deferred:
Federal			3,602				5,133				(390	)
State			158				217				(544	)
Total deferred			3,760				5,350				(934	)
Total income tax provision		$	13,350			$	35,769			$	30,080

Schedule of Federal Statutory Tax Rate

The provision for income taxes differs from the amounts computed by applying the federal statutory rate as follows for the following periods:

	January 28,				January 29,				January 30,
		2023				2022				2021
Federal statutory rate			21.0	%			21.0	%			21.0	%
State tax, net of federal benefit			4.1				4.1				4.1
Permanent items			1.1				0.1				(0.3	)
Tax Credits			(1.7	)			(0.6	)			(0.4	)
Other items			0.3				0.2				0.4
Effective income tax rate			24.8	%			24.8	%			24.8	%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at January 28, 2023 and January 29, 2022, respectively, are presented below:

		January 28,				January 29,
		2023				2022
Deferred tax assets:
Accrued liabilities		$	928			$	1,521
Operating lease liability			76,792				69,565
Gift card liability			1,992				1,332
Goodwill			589				671
Intangible asset			781				927
Inventories			3,109				2,940
Sales return reserve			241				265
Stock-based compensation			993				1,082
Loyalty program			1,351				1,810
Total gross deferred tax assets		$	86,776			$	80,113
Deferred tax liabilities:
Depreciation		$	(27,742	)		$	(23,860	)
ROU asset			(67,417	)			(61,005	)
Prepaid expenses			(1,161	)			(1,027	)
Total gross deferred tax liabilities			(96,320	)			(85,892	)
Net deferred tax asset		$	(9,544	)		$	(5,779	)

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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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- Definition

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

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-Publisher FASB
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-SubTopic 10
-Section 50
-Paragraph 12
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