XML 37 R22.htm IDEA: XBRL DOCUMENT
v3.21.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Jan. 30, 2021
Income Tax Disclosure [Abstract] |
Income Tax (Benefit) Expense | The Company’s income tax (benefit) expense is computed based on the federal statutory rates and the state statutory rates, net of related federal benefit. The Company’s provision for income taxes consists of the following (in thousands):
|  | 52 Weeks Ended January 30, 2021 |  |  | 52 Weeks Ended February 1, 2020 |  |  | 52 Weeks Ended February 2, 2019 |
Current tax (benefit) expense: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | (10,124 | ) |  | $ | (225 | ) |  | $ | 708 |
State |  |  | 52 |  |  |  | 612 |  |  |  | 810 |
Deferred tax expense (benefit): |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | — |  |  |  | 362 |  |  |  | 455 |
State |  |  | 1,525 |  |  |  | (71 | ) |  |  | 58 |
|  | $ | (8,547 | ) |  | $ | 678 |  |  | $ | 2,031 |
Reconciliation of Income Tax (Benefit) Expense at the Statutory Federal Income Tax Rate | A reconciliation of income tax (benefit) expense at the statutory federal income tax rate to the amount provided is as follows (in thousands):
|  | 52 Weeks Ended January 30, 2021 |  |  | 52 Weeks Ended February 1, 2020 |  |  | 52 Weeks Ended February 2, 2019 |
Tax at federal statutory rate |  | $ | 1,699 |  |  | $ | (11,043 | ) |  | $ | 1,220 |
State income taxes, net of federal benefit |  |  | 338 |  |  |  | (1,456 | ) |  |  | 651 |
Tax credits |  |  | (90 | ) |  |  | (192 | ) |  |  | (437 | )
Enactment of tax legislation |  |  | (12,276 | ) |  |  | — |  |  |  | — |
Executive compensation |  |  | 177 |  |  |  | — |  |  |  | 35 |
Stock based compensation programs |  |  | 274 |  |  |  | 1,162 |  |  |  | 545 |
Valuation allowance |  |  | 1,292 |  |  |  | 12,035 |  |  |  | — |
Other |  |  | 39 |  |  |  | 172 |  |  |  | 17 |
Income tax (benefit) expense |  | $ | (8,547 | ) |  | $ | 678 |  |  | $ | 2,031 |
Significant Components of Deferred Tax Assets and Liabilities | Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands):
|  | January 30, 2021 |  |  | February 1, 2020 |
Deferred tax assets: |  |  |  |  |  |  |  |
Accruals |  | $ | 3,147 |  |  | $ | 2,622 |
Inventory valuation |  |  | 448 |  |  |  | 739 |
State tax credit carryforwards |  |  | 148 |  |  |  | 148 |
Federal and state net operating loss carryforwards |  |  | 1,111 |  |  |  | 7,462 |
Impairment |  |  | 2,410 |  |  |  | 4,809 |
Operating lease liabilities |  |  | 48,808 |  |  |  | 64,819 |
Other |  |  | 2,366 |  |  |  | 2,505 |
Total deferred tax assets |  |  | 58,438 |  |  |  | 83,104 |
Valuation allowance for deferred tax assets |  |  | (6,033 | ) |  |  | (12,145 | )
Net deferred tax assets |  |  | 52,405 |  |  |  | 70,959 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Depreciation |  |  | (12,556 | ) |  |  | (16,834 | )
Operating lease right-of-use assets |  |  | (39,126 | ) |  |  | (51,974 | )
Prepaid assets |  |  | (723 | ) |  |  | (626 | )
Total deferred tax liabilities |  |  | (52,405 | ) |  |  | (69,434 | )
Net deferred tax assets |  | $ | — |  |  | $ | 1,525 |

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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum: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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum: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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration