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Income Taxes
9 Months Ended
Oct. 28, 2017
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
The provision for income taxes is based on a current estimate of the annual effective tax rate and is adjusted as necessary for quarterly events. Our effective income tax rate may fluctuate from quarter to quarter as a result of a variety of factors, including changes in our assessment of certain tax contingencies, valuation allowances, changes in tax law, outcomes of administrative audits, the impact of discrete items and the mix of earnings.
For the thirteen weeks ended October 28, 2017 and October 29, 2016, the effective tax rate was 32.9% and 22.9%, respectively. For the thirteen weeks ended October 28, 2017, the income tax provision was $8.2 million compared to the income tax provision of $7.0 million for the thirteen weeks ended October 29, 2016. The current quarter effective tax rate of 32.9% includes a 430 basis point tax benefit related to income tax credits. The favorability in the effective tax rate for the third quarter of 2016 primarily reflects an additional tax benefit related to the disposition of Boston Proper's stock and the recognition of income tax credits in 2016.
For the thirty-nine weeks ended October 28, 2017 and October 29, 2016, the effective tax rate was 36.1% and 34.0%, respectively. For the thirty-nine weeks ended October 28, 2017, the income tax provision was $41.3 million compared to the income tax provision of $40.1 million for the thirty-nine weeks ended October 29, 2016. The current year-to-date effective tax rate of 36.1% includes a 140 basis point tax benefit related to income tax credits and favorable tax settlements. The favorability in the effective tax rate for the thirty-nine weeks ended October 29, 2016 primarily reflects an additional tax benefit related to the disposition of Boston Proper's stock and the recognition of income tax credits in 2016.