Income Taxes Income Taxes (Notes)

6 Months Ended

Oct. 29, 2022

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

Note 12. Income Taxes

We recorded an income tax benefit of $(300) on pre-tax income of $21,844 during the 13 weeks ended October 29, 2022, which represented an effective income tax rate of (1.4)% and an income tax benefit of $(203) on pre-tax income of $22,325 during the 13 weeks ended October 30, 2021, which represented an effective income tax rate of (0.9)%.

We recorded an income tax expense of $633 on pre-tax loss of $(29,930) during the 26 weeks ended October 29, 2022, which represented an effective income tax rate of (2.1)% and an income tax expense of $196 on pre-tax loss of $(20,904) during the 26 weeks ended October 30, 2021, which represented an effective income tax rate of (0.9)%.

In assessing the realizability of the deferred tax assets, management considered whether it is more likely than not that some or all of the deferred tax assets would be realized. As of October 29, 2022, we determined that it was more likely than not that we would not realize all deferred tax assets and our tax rate for the current fiscal year reflects this determination. We will continue to evaluate this position.

The effective tax rate for the 13 and 26 weeks ended October 29, 2022 is lower as compared to the prior year comparable period due to foreign taxes and lower projected annual taxable loss in the current year.