Income Taxes (Tables)

12 Months Ended

Jan. 27, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of the provision for income taxes were as follows (dollars in thousands):

	Fiscal Year Ended
	January 27, 2024		January 28, 2023		January 29, 2022
Current:
Federal	$	65,540	$	24,917	$	(3,323)
Foreign	13		—		(4)
State	18,166		8,460		(495)
	83,719		33,377		(3,822)
Deferred:
Federal	(10,000)		6,094		7,506
Foreign	—		—		—
State	(643)		(1,562)		518
	(10,643)		4,532		8,024
Provision for income taxes	$	73,076	$	37,909	$	4,202

Schedule of Effective Income Tax Rate Reconciliation

	Fiscal Year Ended
	January 27, 2024		January 28, 2023		January 29, 2022
Statutory rate applied to pre-tax income	$	61,320	$	37,826	$	11,083
State taxes, net of federal tax benefit	13,466		5,325		1,422
Change in accruals for uncertain tax positions	2,331		3,833		4,493
Compensation limitation	2,788		3,959		1,468
Tax filings for prior periods	—		(2,505)		(4,609)
Tax credits	(4,453)		(5,056)		(3,756)
Federal benefit of vesting and exercise of share-based awards	(2,413)		(3,515)		(2,425)
Deferred tax remeasurements	—		371		(1,355)
Effect of rates other than statutory	241		(203)		71
Non-deductible and non-taxable items, net	1,090		215		70
Change in valuation allowance	(546)		(376)		(12)
Other items, net	(748)		(1,965)		(2,248)
Provision for income taxes	$	73,076	$	37,909	$	4,202

Schedule of Deferred Tax Assets and Liabilities

The significant components of deferred tax assets and liabilities consisted of the following (dollars in thousands):

	January 27, 2024		January 28, 2023
Deferred tax assets:
Capitalized research expenditures (IRC Section 174)	$	38,689	$	19,498
Insurance and other reserves	25,865		22,866
Leases	19,380		17,096
Stock-based compensation	4,722		3,577
Allowance for doubtful accounts and reserves	3,203		2,984
Net operating loss carryforwards	238		591
Other	3,686		5,080
Total deferred tax assets	95,783		71,692
Valuation allowance	(79)		(634)
Deferred tax assets, net of valuation allowance	$	95,704	$	71,058
Deferred tax liabilities:
Property and equipment	$	86,105	$	77,024
Goodwill and intangibles	38,381		36,132
Leases	19,439		17,178
Other	1,341		929
Deferred tax liabilities	$	145,266	$	131,263
Net deferred tax liabilities	$	49,562	$	60,205

Schedule of Unrecognized Tax Benefits Roll Forward

A summary of unrecognized tax benefits is as follows (dollars in thousands):

	Fiscal Year Ended
	January 27, 2024		January 28, 2023		January 29, 2022
Balance at beginning of year	$	15,771	$	11,929	$	5,940
Additions based on tax positions related to the fiscal year	1,884		2,042		1,377
Additions based on tax positions related to prior years	587		2,957		4,612
Reductions based on tax positions related to prior years	(636)		—		—
Reductions related to the expiration of statutes of limitation	—		(1,157)		—
Balance at end of year	$	17,606	$	15,771	$	11,929