XML 15 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
Income Taxes
6 Months Ended
Jul. 28, 2012
Income Taxes [Abstract]  
Income Taxes

Note 2 — Income Taxes

An estimate of the annual effective tax rate is used at each interim period based on the facts and circumstances available at that time, while the actual effective tax rate is calculated at year-end. For the 13-week period ended July 28, 2012, the Company recorded an income tax benefit of 49.7% of the loss before income taxes. In the prior year period, the Company recorded income tax benefit of 19.7% of the loss before income taxes. The increase in the rate reflects approximately $400,000 of federal and state employment tax credits received in the second quarter of 2012 that related to prior years and in excess of our previous estimates. For the 26-week period ended July 28, 2012, the Company recorded an income tax benefit of 94.8% of the pre-tax loss. In the prior year period, the Company recorded income tax expense of 40.6% of pre-tax income.