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Employee Benefit Plans
 12 Months Ended
Feb. 01, 2025
Employee Benefit Plans [Abstract]  
Employee Benefit Plans
10.
 
Employee Benefit Plans:
 
The
 
Company
 
has
 
a
 
defined
 
contribution
 
retirement
 
savings
 
plan
 
(“401(k)
 
plan”)
 
which
 
covers
 
all
associates
 
who
 
meet
 
minimum
 
age
 
and
 
service
 
requirements.
The 401(k) plan allows participants to
contribute up to 75% of their annual compensation up to the maximum elective deferral, designated by
the Internal Revenue Service.
 
The Company
 
is obligated
 
to make
 
a minimum
 
contribution to
 
cover plan
administrative expenses.
 
Further Company
 
contributions
 
are
 
at the
 
discretion of
 
the
 
Board of
 
Directors.
The Company
 
made no
 
contribution for
 
the year
 
ended February
 
1, 2025.
 
The Company’s
 
contributions
for
 
the
 
years
 
ended
 
February
 
3,
 
2024
 
and
 
January
 
28,
 
2023
 
were
 
approximately
 
$
1,099,000
 
and
$
1,184,000
, respectively.
 
The Company has a trusteed, non-contributory Employee Stock Ownership Plan (“ESOP”), which
covers substantially all associates who meet minimum age and service requirements.
 
The amount
 
of the
Company’s discretionary
 
contribution to the ESOP
 
is determined by the
 
Compensation Committee of the
Board of Directors and
 
can be made in
 
Company Class A Common
 
stock or cash.
 
Due to a
 
net operating
loss
 
in
 
fiscal
 
2024
 
and
 
fiscal
 
2023,
 
the
 
Committee did
 
not
 
approve
 
a
 
contribution
 
to
 
the
 
ESOP
 
for
 
the
years
 
ended
 
February 1,
 
2025
 
and
 
February 3,
 
2024.
 
The
 
Company’s
 
contribution was
 
$
32,510
 
for
 
the
year ended January 28, 2023.
 
 
The Company is primarily self-insured for healthcare.
 
These costs are significant primarily due to the
large
 
number of
 
the Company’s
 
retail locations
 
and associates.
 
The Company’s
 
self-insurance liabilities
are
 
based
 
on the
 
total
 
estimated costs
 
of
 
claims filed
 
and estimates
 
of
 
claims incurred
 
but not
 
reported,
less
 
amounts
 
paid
 
against
 
such
 
claims.
 
Management
 
reviews
 
current
 
and
 
historical
 
claims
 
data
 
in
developing its
 
estimates. If
 
the underlying
 
facts and
 
circumstances of
 
the claims
 
change or
 
the historical
trend is not indicative of future trends, then the Company may be required to
 
record additional expense or
a
 
reduction
 
to
 
expense
 
which
 
could
 
be
 
material
 
to
 
the
 
Company’s
 
reported
 
results
 
of
 
operations
 
in
 
the
period recorded. The Company funds healthcare contributions
 
to a third-party provider.