Income Taxes (Tables)

12 Months Ended

Jan. 28, 2017

Income Tax Disclosure [Abstract]

Components of Net Deferred Tax Assets

The components of the net deferred tax assets as of January 28, 2017 and January 30, 2016 are as follows (in thousands):

	January 28, 2017			January 30, 2016
Deferred tax assets:
Net operating loss carryforward	$	50,399		$	50,199
Gain on sale-leaseback		5,170			5,744
Accrued Expenses and other		4,340			5,667
Lease accruals		4,358			4,732
Goodwill and intangibles		1,513			3,694
Unrecognized loss on pension and pension expense		3,311			3,379
Capital loss carryforward		3,021			3,021
Inventory reserves		2,659			2,561
Alternative minimum tax credit carryforward		2,292			2,292
Foreign tax credit carryforward		901			963
Federal wage tax credit carryforward		707			521
Unrecognized loss on foreign exchange		328			234
State tax credits		124			102
Excess of tax over book depreciation/amortization		(15,192	)		(19,977	)
Subtotal	$	63,931		$	63,132
Valuation allowance (1)		(63,931	)		(63,132	)
Net deferred tax assets	$	—		$	—
Deferred tax liabilities:
Goodwill and intangibles	$	(222	)	$	(196	)
Deferred tax liabilities	$	(222	)	$	(196	)

(1) For fiscal 2016, the Company had total deferred tax assets of $79.1 million, total deferred tax liabilities of $15.4 million and a valuation allowance of $63.9 million.

Provision for Income Taxes from Continuing Operations

The provision for income taxes from continuing operations consists of the following:

	FISCAL YEARS ENDED
	January 28, 2017		January 30, 2016		January 31, 2015
(in thousands)
Current:
Federal and state	$	91	$	104	$	97
Foreign		49		51		55
		140		155		152
Deferred:
Federal and state		23		94		91
Foreign		3		11		—
		26		105		91
Total provision (2)	$	166	$	260	$	243

(2) There was no provision (benefit) recognized on the loss from discontinued operations for fiscal 2014.

Reconciliation between Statutory and Effective Income Tax Rates

The following is a reconciliation between the statutory and effective income tax rates in dollars for the provision for income tax from continuing operations:

	FISCAL YEARS ENDED
	January 28, 2017			January 30, 2016			January 31, 2015
(in thousands)
Federal income tax at the statutory rate	$	(732	)	$	(2,852	)	$	(3,827	)
State income and other taxes, net of federal tax benefit		(1	)		(177	)		(72	)
Permanent items		225			137			141
Change in uncertain tax provisions		—			—			—
Charge for valuation allowance		775			3,200			4,034
Other, net		(101	)		(48	)		(33	)
Provision for income tax from continuing operations	$	166		$	260		$	243