INCOME TAXES (Tables)

12 Months Ended

Feb. 02, 2013

Income Tax Disclosure [Abstract]

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

The provision for income taxes consists of the following for the years ended:

(dollars in thousands)	2012			2011			2010
Current
Federal	$	15,963		$	9,953		$	13,808
State		(6,480	)		915			1,235
		9,483			10,868			15,043
Deferred
Federal		(1,052	)		6,886			2,070
State		469			(424	)		(172	)
		(583	)		6,462			1,898
	$	8,900		$	17,330		$	16,941

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

The income tax effects of temporary differences that give rise to significant portions of the deferred income tax assets and deferred income tax liabilities as of year-end are presented below:

(dollars in thousands)	2012			2011
Deferred income tax assets:
Accrual for incentive compensation	$	241		$	111
Allowance for doubtful accounts		752			794
Insurance accruals		2,320			2,802
Other accruals		40			186
Net operating loss carryforwards		4,803			6,722
Postretirement benefits other than pensions		-			374
Deferred revenue		657			693
Federal benefit on state reserves		584			3,176
Amortization of intangibles		10,821			8,489
Total deferred income tax assets		20,218			23,347
Less: Valuation allowance		1,995			2,849
Deferred income tax assets, net of valuation allowance		18,223			20,498
Deferred income tax liabilities:
Postretirement benefits		(287	)		-
Property, plant and equipment		(18,996	)		(21,945	)
Inventory valuation		(27,906	)		(26,972	)
Prepaid expenses		-			(1,091	)
Total deferred income tax liabilities		(47,189	)		(50,008	)
Net deferred income tax liabilities	$	(28,966	)	$	(29,510	)

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

A reconciliation of the statutory federal income tax rate to the effective income tax rate is as follows:

	2012			2011			2010
Income tax provision at statutory rate		35.0	%		35.0	%		35.0	%
Tax credits, principally jobs		(1.0	)		(2.3	)		(1.0	)
State income taxes, net of federal benefit		4.7			(0.2	)		0.8
Permanent differences		0.3			0.5			0.8
Uncertain tax provisions		(12.7	)		0.3			0.1
Change in state valuation allowance		(2.2	)		0.8			0.7
Other		(1.0	)		-			-
Effective income tax rate		23.1	%		34.1	%		36.4	%

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

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

(in millions)	2012			2011			2010
Beginning balance	$	9.6		$	9.3		$	9.2
Additions for tax position during the current year		0.1			1.1			0.9
Additions for tax positions of prior years		0.1			0.3			0.3
Reductions for tax positions of prior years from lapse of statue		(0.9	)		(1.1	)		(1.1	)
Reductions for settlements of prior year tax positions		(6.8	)		-			-
Ending balance	$	2.1		$	9.6		$	9.3