INCOME TAXES (Tables)

12 Months Ended

Feb. 03, 2018

INCOME TAXES [Abstract]

Components of provision for income taxes

A summary of the components of the provision/(benefit) for income taxes is as follows (in thousands):

	Fiscal Year Ended
	February 3, 2018		January 28, 2017		January 30, 2016
	(53 weeks)		(52 weeks)		(52 weeks)
Federal:
Current	$	16,154	$	31,007	$	36,053
Deferred		3,257		1,359		1,188
		19,411		32,366		37,241
State:
Current		1,668		3,042		3,743
Deferred		338		13		200
		2,006		3,055		3,943
Provision for income taxes	$	21,417	$	35,421	$	41,184

Reconciliation of statutory federal income tax rate

A reconciliation of the statutory federal income tax rate to the effective tax rate as a percentage of income before provision for income taxes follows:

	Fiscal Year Ended
	February 3, 2018			January 28, 2017			January 30, 2016
	(53 weeks)			(52 weeks)			(52 weeks)
Tax provision computed at the federal statutory rate		33.72	%		35.00	%		35.00	%
Effect of state income taxes, net of federal benefits		2.50			2.22			2.40
Enactment of the Tax Cuts and Jobs Act		1.39			N/A			N/A
Other, net		(0.33	)		(0.51	)		(0.53	)
		37.94	%		36.71	%		36.87	%

Components of deferred income tax assets, net

The components of the deferred income taxes, net, are as follows (in thousands):

	February 3, 2018			January 28, 2017
	(53 weeks)			(52 weeks)
Deferred rent	$	6,971		$	10,298
Inventories		3,209			4,953
Accruals		3,616			5,709
Stock-based compensation		3,714			4,974
Other		49			150
Total deferred tax assets		17,559			26,084
Accumulated depreciation and amortization		(14,395	)		(19,735	)
Prepaid expenses		(644	)		(836	)
Accruals		(224	)		-
State taxes		(120	)		(228	)
Total deferred tax liabilities		(15,383	)		(20,799	)
Deferred income taxes, net	$	2,176		$	5,285

Reconciliation of unrecognized tax benefit

A reconciliation of the unrecognized tax benefit, excluding estimated interest and penalties, under ASC Subtopic 740-10 follows (in thousands):

	Fiscal Year Ended
	February 3, 2018			January 28, 2017			January 30, 2016
	(53 weeks)			(52 weeks)			(52 weeks)
Unrecognized tax benefits - beginning of year	$	1,267		$	1,242		$	1,339
Gross increases - tax positions in prior period		140			158			90
Gross decreases - tax positions in prior period		(7	)		(26	)		(39	)
Gross increases - tax positions in current period		70			121			122
Settlements		-			-			-
Lapse of statute of limitations		(314	)		(228	)		(270	)
Unrecognized tax benefits - end of year	$	1,156		$	1,267		$	1,242