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Income Taxes (Tables)

12 Months Ended

Feb. 01, 2025

Income Tax Disclosure [Abstract]

Provision for Income Taxes

For the fiscal years ended February 1, 2025, February 3, 2024, and January 28, 2023, the income tax provision consisted of the following:

		February 1,				February 3,				January 28,
		2025				2024				2023
Current:
Federal		$	21			$	203			$	6,853
State			328				643				2,737
Total current			349				846				9,590
Deferred:
Federal			(809	)			(8,251	)			3,602
State			2,390				(1,804	)			158
Total deferred			1,581				(10,055	)			3,760
Total income tax provision		$	1,930			$	(9,209	)		$	13,350

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:

	February 1,				February 3,				January 28,
		2025				2024				2023
Federal statutory rate			21.0	%			21.0	%			21.0	%
State tax, net of federal benefit			(6.9	)			4.1				4.1
Permanent items			(2.2	)			(2.4	)			1.1
Tax credits			1.0				2.4				(1.7	)
Valuation allowance			(18.3	)			—				—
Other items			(0.8	)			(1.0	)			0.3
Effective income tax rate			(6.2	)%			24.1	%			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 February 1, 2025 and February 3, 2024, respectively, are presented below:

		February 1,				February 3,
		2025				2024
Deferred tax assets:
Accrued liabilities		$	268			$	555
Operating lease liability			89,494				89,279
Gift card liability			3,191				2,622
Goodwill			425				507
Intangible asset			490				635
Inventories			3,021				3,322
Sales return reserve			214				205
Stock-based compensation			726				778
Tax credits			1,120				791
Net operating losses			11,136				15,474
Section 163j			5,910				—
Loyalty program			654				1,089
Total gross deferred tax assets			116,649				115,257
Less: Valuation allowance			(10,082	)		$	—
Deferred tax assets, net of valuation allowance		$	106,567			$	115,257
Deferred tax liabilities:
Depreciation		$	(28,676	)		$	(35,872	)
ROU asset			(77,701	)			(77,654	)
Prepaid expenses			(1,330	)			(1,226	)
Total gross deferred tax liabilities			(107,707	)			(114,752	)
Net deferred tax (liability) asset		$	(1,140	)		$	505

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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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-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-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.

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-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.

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