Income Taxes (Tables)

12 Months Ended

Feb. 01, 2014

The provision for income taxes consisted of:

(In thousands)	2013			2012			2011

Current:
Federal	$	15,366		$	19,581		$	11,318
State		1,805			2,601			1,210
Puerto Rico		185			79			0
Total current		17,356			22,261			12,528

Deferred:
Federal		(139	)		(2,692	)		2,918
State		(138	)		(304	)		122
Puerto Rico		(444	)		(350	)		0
Total deferred		(721	)		(3,346	)		3,040

Total provision	$	16,635		$	18,915		$	15,568

Schedule of Effective Income Tax Rate Reconciliation

Reconciliation between the statutory federal income tax rate and the effective income tax rate is as follows:

Fiscal years	2013			2012			2011

U.S. Federal statutory tax rate		35.0	%		35.0	%		35.0	%
State and local income taxes, net of federal tax benefit		3.8			4.8			2.1
Puerto Rico		(0.6	)		(0.6	)		0.0
Effective income tax rate		38.2	%		39.2	%		37.1	%

Schedule of Deferred Tax Asset/Liability

Deferred income taxes are the result of temporary differences in the recognition of revenue and expense for tax and financial reporting purposes. The sources of these differences and the tax effect of each are as follows:

(In thousands)	February 1, 2014			February 2, 2013
Deferred tax assets:
Accrued rent	$	3,543		$	2,878
Accrued compensation		5,625			5,191
Accrued employee benefits		506			479
Inventory		411			916
Self-insurance reserves		593			494
Lease incentives		10,003			7,438
Net operating loss carry forward		449			359
Other		396			337
Total deferred tax assets		21,526			18,092

Deferred tax liabilities:
Depreciation		15,265			12,801
Capitalized costs		1,180			1,017
Puerto Rico net operating loss carry forward impact to federal taxes		444			350
Other		3			11
Total deferred tax liabilities		16,892			14,179
Net deferred tax asset		4,634			3,913
Less current deferred income tax benefit		(1,208	)		(2,914	)
Long-term deferred income taxes	$	3,426		$	999

Schedule of Unrecognized Tax Liability

A reconciliation of the beginning and ending amount for our unrecognized tax positions, which exclude interest and penalties, is as follows:

(In thousands)	2013			2012		2011

Beginning balance	$	69		$	69	$	693
Increases - tax positions in prior period		0			0		0
Decreases - tax positions in prior period		(69	)		0		(339	)
Gross increases - current period tax positions		0			0		0
Decreases related to settlements with taxing authorities		0			0		(285	)
Ending balance	$	0		$	69	$	69