Income Taxes (Tables)

12 Months Ended

Jan. 30, 2016

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 January 30, 2016 and January 31, 2015 were as follows (in thousands):



	January 30, 2016			January 31, 2015
Accruals and reserves not currently deductible for tax purposes	$	6,990		$	7,420
Inventory capitalization	1,931			1,459
Differences in depreciation lives and methods	2,730			2,866
Differences in basis of intangible assets	(2,756		)	(1,968		)
Differences in investments and other items	551			215
Net operating loss carryforwards	117,909			112,318
Valuation allowance	(130,089		)	(124,258		)
Net deferred tax liability	$	(2,734	)	$	(1,948	)

Schedule of Components of Income Tax Expense (Benefit)

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



	For the Years Ended
	January 30, 2016			January 31, 2015			February 1, 2014
Current	$	(46	)	$	(31	)	$	(15	)
Deferred	(788		)	(788		)	(1,158		)
	$	(834	)	$	(819	)	$	(1,173	)

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
	January 30, 2016		January 31, 2015		February 1, 2014
Taxes at federal statutory rates	35.0	%	35.0	%	35.0	%
State income taxes, net of federal tax benefit	(0.6	)	(11.2	)	(5.3	)
Reestablishment of state net operating losses	6.0		—		—
Non-cash stock option vesting expense	(1.9	)	(158.6	)	(43.3	)
Other	4.9		(2.4	)	(0.6	)
FCC license deferred tax liability impact on valuation allowance	(6.5	)	(133.4	)	(81.5	)
Valuation allowance and NOL carryforward benefits	(44.2	)	124.0		8.4
Effective tax rate	(7.3	)%	(146.6	)%	(87.3	)%