Income Taxes (Tables)

12 Months Ended

Feb. 01, 2014

Feb. 02, 2013

Schedule of Deferred Tax Assets and Liabilities

The Company records deferred taxes for differences between the financial reporting and income tax bases of assets and liabilities, computed in accordance with tax laws in effect at that time. The deferred taxes related to such differences as of February 1, 2014 and February 2, 2013 were as follows (in thousands):



	February 1, 2014			February 2, 2013
Accruals and reserves not currently deductible for tax purposes	$	5,066		$	5,365
Inventory capitalization	966			719
Differences in depreciation lives and methods	2,811			2,885
Differences in basis of intangible assets	(1,180		)	(392		)
Differences in investments and other items	(141		)	442
Net operating loss carryforwards	113,229			111,276
Valuation allowance	(121,909		)	(120,295		)
Net deferred tax liability	$	(1,158	)	$	—

Schedule of Components of Income Tax Expense (Benefit)

The provision from income taxes consisted of the following (in thousands):



	For the Years Ended
	February 1, 2014			February 2, 2013			January 29, 2011
Current	$	(15	)	$	(20	)	$	(84	)
Deferred	(1,158		)	—			—
	$	(1,173	)	$	(20	)	$	(84	)

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the statutory tax rates to the Company’s effective tax rate is as follows:



	For the Years Ended
	February 1, 2014		February 2, 2013		January 29, 2011
Taxes at federal statutory rates	35.0	%	35.0	%	35.0	%
State income taxes, net of federal tax benefit	(5.3	)	1.8		0.4
Non-cash stock option vesting expense	(43.3	)	(3.8	)	(0.9	)
Non-deductible interest	—		—		(1.2	)
Non-deductible loss on debt extinguishment	—		—		(18.7	)
Other	(0.6	)	0.1		0.1
FCC license deferred tax liability	(81.5	)	—		—
Valuation allowance and NOL carryforward benefits	8.4		(33.2	)	(14.9	)
Effective tax rate	(87.3	)%	(0.1	)%	(0.2	)%