Income Taxes (Tables)

12 Months Ended

Jan. 30, 2021

Income Tax Disclosure [Abstract]

Components of Net Deferred Tax Assets

The components of the net deferred tax assets as of January 30, 2021 and February 1, 2020 were as follows (in thousands):

	January 30, 2021			February 1, 2020
Deferred tax assets, net:
Net operating loss carryforward	$	50,197		$	40,921
Accrued expenses and other		2,706			1,630
Operating lease liabilities		45,557			57,419
Goodwill and intangibles		87			236
Unrecognized loss on pension and pension expense		2,067			2,156
Inventory reserves		1,002			960
Foreign tax credit carryforward		486			486
Federal wage tax credit carryforward		824			824
State tax credits		147			147
Operating lease right-of-use assets		(34,365	)		(48,018	)
Property and equipment		(5,605	)		(9,205	)
Subtotal	$	63,103		$	47,556
Valuation allowance		(63,103	)		(47,556	)
Net deferred tax assets	$	—		$	—

Provision (Benefit) for Income Taxes

The provision (benefit) for income taxes consisted of the following:

	FISCAL YEARS ENDED
	January 30, 2021		February 1, 2020		February 2, 2019
(in thousands)
Current:
Federal	$	—	$	—	$	(151	)
State		99		97		93
Foreign		7		8		8
		106		105		(50	)
Deferred:
Federal		—		—		—
State		—		—		—
Foreign		—		—		—
		—		—		—
Total provision (benefit)	$	106	$	105	$	(50	)

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 (benefit) for income tax:

	FISCAL YEARS ENDED
	January 30, 2021			February 1, 2020			February 2, 2019
(in thousands)
Federal income tax at the statutory rate (1)	$	(13,531	)	$	(1,615	)	$	(2,852	)
State income and other taxes, net of federal tax benefit		78			77			66
Section 162(m) limitation		197			541			183
Permanent items		245			277			170
Expiration of capital loss carryforward		—			—			1,618
Charge for valuation allowance (2)		13,167			850			992
Refundable AMT credit		—			—			(151	)
Other, net		(50	)		(25	)		(76	)
Total provision (benefit)	$	106		$	105		$	(50	)

(1) The statutory rate is 21%.

(2) The change in valuation allowance in fiscal 2019 was impacted by the adoption of ASC 842 in the tax-effected amount of $1.4 million.