INCOME TAXES (Tables)

12 Months Ended

Jan. 30, 2021

Income Tax Disclosure [Abstract]

Provision for income taxes

The provision for income taxes consists of:

	Fiscal Years Ended
	January 30, 2021		February 1, 2020		February 2, 2019
Current income tax expense:
Federal	$	35,837	$	29,660	$	27,278
State	6,269		5,604		4,857
Deferred income tax expense (benefit)	(1,298)		(1,986)		(1,099)
Total	$	40,808	$	33,278	$	31,036

Reconciliation of effective tax rate

Total income tax expense for the year varies from the amount which would be provided by applying the statutory income tax rate to earnings before income taxes. The primary reasons for this difference (expressed as a percent of pre-tax income) are as follows:

	Fiscal Years Ended
	January 30, 2021		February 1, 2020		February 2, 2019
Statutory rate	21.0	%	21.0	%	21.0	%
State income tax effect	2.9		3.2		3.0
Tax exempt interest income	(0.1)		(0.2)		(0.2)
Other	0.1		0.2		0.7
Effective tax rate	23.9	%	24.2	%	24.5	%

Deferred income tax assets and liabilities

Deferred income tax assets and liabilities are comprised of the following:

	January 30, 2021		February 1, 2020
Deferred income tax assets (liabilities):
Inventory	$	4,228	$	4,877
Stock-based compensation	2,118		1,627
Accrued compensation	4,551		3,912
Deferred payroll taxes (a)	1,326		—
Accrued store operating costs	2,862		2,691
Realized and unrealized loss on securities	(528)		(312)
Gift certificates redeemable	918		986
Deferred rent liability	319		231
Property and equipment	(13,138)		(12,787)
Operating lease right-of-use assets	(67,046)		(84,021)
Operating lease liabilities	73,504		90,612
Net deferred income tax asset	$	9,114	$	7,816

(a)     Relates to the liability for deferred payment of the employer's portion of Social Security taxes, as provided for under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) enacted on March 27, 2020.