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Income Taxes (Tables)

12 Months Ended

Feb. 01, 2025

Income Tax Disclosure [Abstract]

Schedule of (Benefit) Provision for Income Taxes

The (benefit) provision for income taxes consisted of the following:

	Fiscal Year
(in thousands)	2024						2023
Current:
Domestic:
Federal	$	103					$	—
State		508						514
Foreign		29						29
Total current		640						543
Deferred:
Domestic:
Federal		(1,854	)					(2,017	)
State		(2,428	)					(2,004	)
Foreign		—						—
Total deferred		(4,282	)					(4,021	)
Total benefit for income taxes	$	(3,642	)				$	(3,478	)

Schedule of Reconciliation of Federal Statutory Income Tax Rate to Effective Tax Rate

A reconciliation of the federal statutory income tax rate to the effective tax rate is as follows:

	Fiscal Year
	2024						2023
Statutory federal rate		21.0	%					21.0	%
State taxes, net of federal benefit		(80.4	)%					12.0	%
NOL Adjustments		(267.3	)%					6.7	%
Sale of Rebecca Taylor		40.7	%					0.0	%
Release of uncertain tax provision		2.2	%					0.0	%
Cancellation of Debt Income		(6.1	)%					0.0	%
Deferred Adjustments		(2.9	)%					3.6	%
Valuation allowance		310.2	%					(61.3	)%
Return to provision adjustment		(1.1	)%					0.2	%
Transaction Costs		(0.6	)%					0.0	%
Non-deductible Officers Compensation		0.0	%					0.3	%
Rate Differential on Foreign Income		0.0	%					0.4	%
Other		(0.1	)%					0.1	%
Total		15.6	%					(17.0	)%

Schedule of Deferred Income Tax Assets and Liabilities

Deferred income tax assets and liabilities consisted of the following:

	February 1,				February 3,
(in thousands)	2025				2024
Deferred tax assets:
Depreciation and amortization	$	2,221			$	2,706
Employee related costs		1,495				426
Allowance for asset valuations		1,670				1,664
Accrued expenses		213				317
Lease liability		27,140				22,601
Net operating losses		44,450				122,382
Tax credits		92				92
Interest expense		5,110				5,428
Other		322				288
Total deferred tax assets		82,713				155,904
Less: valuation allowances		(53,394	)			(125,913	)
Net deferred tax assets		29,319				29,991
Deferred tax liabilities:
Indefinite lived intangibles		—				(8,584	)
ROU assets		(23,869	)			(19,548	)
Equity method investment		(6,081	)			(6,772	)
Total deferred tax liabilities		(29,950	)			(34,904	)
Net deferred tax (liability) asset	$	(631	)		$	(4,913	)
Included in:
Deferred income tax asset	$	—			$	—
Deferred income tax liability		(631	)			(4,913	)
Net deferred tax liability	$	(631	)		$	(4,913	)

Reconciliation of Beginning and Ending Amount of Gross Unrecognized Tax Benefits, Excluding Interest and Penalties

A reconciliation of the beginning and ending amount of gross unrecognized tax benefits, excluding interest and penalties, is as follows:

	Fiscal Year
(in thousands)	2024				2023
Beginning balance	$	556			$	556
Decreases for tax positions in prior years		(556	)			—
Ending balance	$	—			$	556

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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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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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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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Tabular disclosure of the change in unrecognized tax benefits.

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