XML 67 R43.htm IDEA: XBRL DOCUMENT v3.25.1

Income Taxes (Tables)

12 Months Ended

Feb. 01, 2025

Income Tax Disclosure [Abstract]

Components of Income Tax Expense

The components of income tax expense for fiscal years 2024, 2023 and 2022 were as follows (in thousands):

			Fiscal Year Ended
			February 1, 2025						February 3, 2024						January 28, 2023
Current:
Federal			$	—					$	83					$	(8)
State			217						245						622
			217						328						614
Deferred:
Federal			—						4,882						2,308
State			—						3,499						568
			—						8,381						2,876
Total income tax expense			$	217					$	8,709					$	3,490

Reconciliation of Income Tax Expense to Amount Computed At Federal Statutory Rate

A reconciliation of income tax expense to the amount computed at the federal statutory rate for fiscal years 2024, 2023 and 2022 is as follows (in thousands):

			Fiscal Year Ended
			February 1, 2025						February 3, 2024						January 28, 2023
Federal taxes at statutory rate			$	(9,663)					$	(5,414)					$	2,764
State and local income taxes, net of federal benefit			(2,270)						(1,309)						754
Nondeductible executive compensation			(210)						103						100
Enhanced contribution deduction			(202)						(177)						(147)
Tax credits			(132)						(185)						(231)
Share-based compensation discrete items (1)			434						54						101
Return to provision adjustments			51						9						220
Other			137						233						(71)
Change in valuation allowance			12,072						15,395						—
Total income tax expense			$	217					$	8,709					$	3,490

(1)This amount includes the impact of discrete items related to the expiration of stock options, exercises of stock options and the settlement of restricted stock that are recorded to income tax expense which represents share-based compensation cost previously recognized by us that was greater than the deduction allowed for income tax purposes based on the price of our common stock on the date of expiration, exercise or vesting.

Significant Components of Deferred Tax Assets and Liabilities

Significant components of deferred tax assets and liabilities as of February 1, 2025 and February 3, 2024 were as follows (in thousands):

			February 1, 2025						February 3, 2024
Deferred tax assets:
Operating lease liabilities			$	50,661					$	60,821
Net operating loss carryforwards			13,932						5,305
Inventories			3,461						2,441
Share-based compensation			1,434						1,324
Accrued expenses			1,381						1,342
Deferred revenue			1,336						1,272
Compensation and benefits			601						573
Other			2,278						1,520
Total deferred tax assets			75,084						74,598
Less: valuation allowance			(27,528)						(15,395)
Deferred tax assets, net of valuation allowance			47,556						59,203
Deferred tax liabilities:
Operating lease assets			(42,033)						(51,948)
Property and equipment			(3,885)						(5,935)
Prepaid expenses			(1,585)						(1,132)
Marketable securities			(53)						(188)
Total deferred tax liabilities			(47,556)						(59,203)
Net deferred tax asset			$	—					$	—

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration