INCOME TAXES	3 Months Ended
May 04, 2013
INCOME TAXES
INCOME TAXES	NOTE 6—INCOME TAXES The Company recognizes taxes payable for the current year, as well as deferred tax assets and liabilities for the future tax consequences of events that have been recognized in the Company’s financial statements or tax returns. The Company’s effective income tax rate differs from the U.S. statutory rate principally due to foreign taxes related to the Company’s Puerto Rico operations, state taxes, and certain other permanent tax items. The change in the rate for the thirteen weeks ended May 4, 2013 as compared to the thirteen weeks ended April 28, 2012 was primarily driven by a $3.8 million tax benefit due to non-expiring state hiring credits recorded in the first quarter of 2013, the cash benefit of which is not expected to be utilized within the next 12 months. For income tax benefits related to uncertain tax positions to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. During the thirteen weeks ended May 4, 2013, there were no material changes to the Company’s liability for uncertain tax positions.

INCOME TAXES

3 Months Ended

May 04, 2013

NOTE 6—INCOME TAXES

The Company recognizes taxes payable for the current year, as well as deferred tax assets and liabilities for the future tax consequences of events that have been recognized in the Company’s financial statements or tax returns. The Company’s effective income tax rate differs from the U.S. statutory rate principally due to foreign taxes related to the Company’s Puerto Rico operations, state taxes, and certain other permanent tax items. The change in the rate for the thirteen weeks ended May 4, 2013 as compared to the thirteen weeks ended April 28, 2012 was primarily driven by a $3.8 million tax benefit due to non-expiring state hiring credits recorded in the first quarter of 2013, the cash benefit of which is not expected to be utilized within the next 12 months.

For income tax benefits related to uncertain tax positions to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. During the thirteen weeks ended May 4, 2013, there were no material changes to the Company’s liability for uncertain tax positions.