Income Taxes Income Taxes (Tables)

12 Months Ended

May 02, 2020

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

Income tax benefits for Fiscal 2020, Fiscal 2019 and Fiscal 2018 are as follows:

	Fiscal 2020			Fiscal 2019			Fiscal 2018
Current:
Federal (a)	$	(5,471	)	$	(6,494	)	$	(8,089	)
State	(1,127		)	(2,035		)	2,410
Total Current	(6,598		)	(8,529		)	(5,679		)
Deferred:
Federal (a)	(4,086		)	(3,681		)	(13,250		)
State	(1,294		)	(850		)	(1,514		)
Total Deferred	(5,380		)	(4,531		)	(14,764		)
Total	$	(11,978	)	$	(13,060	)	$	(20,443	)

(a) For Fiscal 2018, the income tax benefit was caused largely by the revaluation due to the change in the U.S. corporate income tax rate from 35% to 21% as described above.

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

Reconciliation between the effective income tax rate and the federal statutory income tax rate is as follows:

	Fiscal 2020		Fiscal 2019		Fiscal 2018
Federal statutory income tax rate (a)	21.0	%	21.0	%	34.1	%
State income taxes, net of federal income tax benefit	3.7		6.3		(0.3	)
Permanent book / tax differences	(2.9	)	(3.9	)	(0.7	)
Goodwill impairment	—		—		(34.2	)
Provisional remeasurement due to Tax Legislation	—		10.4		7.5
Credits	0.5		0.3		0.2
Other, net	1.5		0.8		0.9
Effective income tax rate	23.8	%	34.9	%	7.5	%

(a) Due to the Act, we applied a U.S. statutory federal income tax rate of 33.9% for earnings between April 30, 2017 and January 27, 2018, and 21% for earnings between January 28, 2018 and April 28, 2018. The result is an effective statutory rate of 34.1% for Fiscal 2018.

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The significant components of our deferred taxes consisted of the following:

	As of
	5/2/2020			4/27/2019
Deferred tax assets:
Estimated accrued liabilities	$	11,046		$	10,972
Inventory	7,167			2,969
Stock-based compensation	1,511			1,738
Insurance liability	528			518
Operating lease liabilities	65,334			982
Tax credits	484			402
Goodwill	18,438			19,903
Net operating losses	4,992			4,928
Other	8,853			8,253
Gross deferred tax assets	118,353			50,665
Valuation allowance	(1,231		)	(1,194		)
Net deferred tax assets	117,122			49,471
Deferred tax liabilities:
Intangible asset amortization	(37,864		)	(40,790		)
Operating lease right-of-use assets	(64,695		)	—
Property and equipment	(6,758		)	(6,256		)
Gross deferred tax liabilities	(109,317		)	(47,046		)
Net deferred tax asset	$	7,805		$	2,425

Summary of Income Tax Contingencies [Table Text Block]

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

Balance at April 29, 2017	$	86
Additions for tax positions of the current period	25
Additions for tax positions of prior periods	2
Reductions due to settlements	—
Other reductions for tax positions of prior periods	(16		)
Balance at April 28, 2018	$	97
Additions for tax positions of the current period	—
Additions for tax positions of prior periods	—
Reductions due to settlements	—
Other reductions for tax positions of prior periods	(6		)
Balance at April 27, 2019	$	91
Additions for tax positions of the current period	—
Additions for tax positions of prior periods	—
Reductions due to settlements	—
Other reductions for tax positions of prior periods	(39		)
Balance at May 2, 2020	$	52