Income Taxes (Tables)

12 Months Ended

Jan. 30, 2021

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The (benefit) provision for income taxes for the Fiscal Years 2020, 2019, and 2018 consists of the following (in thousands):

	For the Fiscal Year Ended January 30, 2021			For the Fiscal Year Ended February 1, 2020			For the Fiscal Year Ended February 2, 2019
Current
U.S. Federal	$	(30,304	)	$	5,636		$	11,634
State and local		(659	)		2,165			4,334
Total current		(30,963	)		7,801			15,968
Deferred tax benefit
U.S. Federal		(13,922	)		(8,681	)		(3,513	)
State and local		(3,277	)		(2,142	)		(806	)
Total deferred tax benefit		(17,199	)		(10,823	)		(4,319	)
Total income tax (benefit) provision	$	(48,162	)	$	(3,022	)	$	11,649

Schedule of Reconciliation of Statutory Federal Income Tax Rate

A reconciliation of the federal statutory income tax rate to the Company’s effective tax rate is as follows for the periods presented:

	For the Fiscal Year Ended January 30, 2021			For the Fiscal Year Ended February 1, 2020			For the Fiscal Year Ended February 2, 2019
Federal statutory income tax rate		21.0	%		21.0	%		21.0	%
State income taxes, net of federal tax effect		4.9	%		0.3	%		6.3	%
Goodwill impairment		(2.0	)%		(19.1	)%		0.0	%
Net operating loss CARES ACT benefit		5.7	%		0.0	%		0.0	%
Valuation allowance		(2.9	)%		0.0	%		0.0	%
Nondeductible equity-based compensation expense		(0.2	)%		0.1	%		0.3	%
Charitable contributions		0.1	%		0.1	%		(0.6	)%
Tax return to provision adjustments		0.0	%		0.0	%		0.1	%
Other		(0.9	)%		(0.1	)%		0.5	%
Effective tax rate		25.7	%		2.3	%		27.6	%

Components of Deferred Income Tax Assets and (Liabilities)

The components of deferred tax assets (liabilities) were as follows (in thousands):

	January 30, 2021			February 1, 2020
Deferred tax assets
Accrued expenses	$	7,984		$	5,384
State net operating loss carryforward		4,621			—
Start-up costs		539			618
Lease liabilities		58,768			64,068
Total deferred tax assets, gross		71,912			70,070
Less: Deferred tax valuation allowances		(5,472	)		—
Total deferred tax assets net of valuation allowances		66,440			70,070
Deferred tax liabilities
Inventory		(1,930	)		(2,496	)
Lease assets		(42,785	)		(54,721	)
Fixed assets		(11,748	)		(15,341	)
Intangible assets		(22,148	)		(27,826	)
Debt issuance costs		(415	)		—
Prepaid expenses		(1,249	)		(720	)
Total deferred tax liabilities		(80,275	)		(101,104	)
Net deferred tax liabilities	$	(13,835	)	$	(31,034	)