Income Taxes (Tables)

12 Months Ended

Jan. 31, 2015

The income tax provision (benefit) is comprised of the following amounts (in thousands):



	Fiscal Year Ended January 31, 2015			Fiscal Year Ended February 1, 2014
Current:
Federal	$	251		$	323
State and local	296			578
Foreign	—			—
	547			901
Deferred:
Federal	1,066			(4,433		)
State and local	188			(587		)
Foreign	(144		)	(766		)
	1,110			(5,786		)
Income tax provision (benefit)	1,657			(4,885		)
Valuation allowance adjustment	(1,110		)	5,786
Income tax provision	$	547		$	901

Reconciliation of Statutory Federal Income Tax Rate to Pretax Income

The income tax provision (benefit) differs from the amount obtained by applying the statutory Federal income tax rate to pretax income as follows (in thousands):



	Fiscal Year Ended January 31, 2015			Fiscal Year Ended February 1, 2014
Provision (benefit) at Federal statutory rates	$	1,118		$	(4,047	)
Permanent adjustments	47			24
State tax, net of Federal	415			(97		)
Net tax benefit adjustment	—			(765		)
Change in valuation allowance	(1,111		)	5,786
Prior year adjustments	134			—
Foreign rate differential	(59		)	—
Other	3			—
Income tax provision	$	547		$	901

Schedule of Deferred Tax Liabilities

Net deferred tax liabilities, which are included in other long-term liabilities on the accompanying consolidated balance sheets as of January 31, 2015 and February 1, 2014, reflect the tax effect of the following differences between financial statement carrying amounts and tax bases of assets and liabilities as follows (in thousands):



	January 31, 2015			February 1, 2014
Assets:
Net operating loss and tax credit carryforwards	$	7,142		$	11,991
Puerto Rico and U.S. Virgin Islands net operating loss carryforwards	3,129			2,986
Inventories	7,862			7,280
Property and equipment	8,810			10,803
Accounts receivable allowances	295			371
Goodwill and intangibles	194			415
Accrued interest	8,744			6,950
Deferred rent	3,481			3,287
Accrued expenses	3,382			2,897
Share-based compensation	2,933			2,726
Other	2,566			1,442
Total deferred tax assets	48,538			51,148
Valuation allowance	(45,749		)	(46,860		)
Net deferred tax assets	2,789			4,288
Liabilities:
Tradename	(3,400		)	(3,400		)
Intangibles	(2,789		)	(4,288		)
Total deferred tax liabilities, net	$	(3,400	)	$	(3,400	)

Schedule of Unrecognized Tax Benefits and Related Interest and Penalties

The balance of unrecognized tax benefits, the amount of related interest and penalties we have provided and what we believe to be the range of reasonably possible changes in the next twelve months, were (in thousands):



	Fiscal Year Ended January 31, 2015		Fiscal Year Ended February 1, 2014
Unrecognized tax benefits	$	1,079	$	1,007
Portion if recognized would reduce tax expense and effective rate	1,079		1,007
Accrued interest on unrecognized tax benefits	647		406
Accrued penalties on unrecognized tax benefits	244		218

Reconciliation of Beginning and Ending Unrecognized Tax Benefits

A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows (in thousands):



	Fiscal Year Ended January 31, 2015			Fiscal Year Ended February 1, 2014
Balance at beginning of year	$	1,007		$	714
Additions for tax positions of the current year	71			130
Additions for tax positions of prior years	30			163
Reductions for tax positions of prior years	(29		)	—
Balance at end of year	$	1,079		$	1,007