Income Taxes (Tables)

12 Months Ended

Jan. 29, 2022

Income Tax Disclosure [Abstract]

Schedule of Income Tax Provision

The income tax provision consisted of the following:

	Fiscal 2021		Fiscal 2020		Fiscal 2019
Current:
Federal	$	12,847	$	(102,046)	$	4,593
State	658		468		(261)
Foreign	108		48		315
Total	13,613		(101,530)		4,647
Deferred:
Federal	157		(3,902)		(4,392)
State	30		5,532		545
Total	187		1,630		(3,847)
Income tax provision (benefit)	$	13,800	$	(99,900)	$	800

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation between the statutory federal income tax rate and the effective income tax rate follows:

 

	Fiscal 2021		Fiscal 2020		Fiscal 2019 (1)
Federal income tax rate	21.0	%	21.0	%	21.0	%
State income tax, net of federal tax benefit	4.7		3.3		(1.4)
Goodwill impairment with no tax basis	—		(3.3)		—
Impact of the CARES Act	(4.2)		8.6		—
Excess share-based compensation	0.3		(0.3)		(19.3)
Provision-to-tax return adjustments	—		—		(8.9)
Valuation allowance	(1.0)		(7.6)		(4.9)
Executive compensation limitations	1.1		—		(3.8)
Foreign losses with full valuation allowance	0.1		(0.1)		(3.8)
Federal tax credits	(0.6)		—		6.0
Changes in uncertain tax positions	(0.4)		—		4.2
Other items, net	2.0		0.1		4.2
Total	23.0	%	21.7	%	(6.7)	%

(1) Given the low level of pre-tax income in absolute dollars in fiscal 2019, effective tax rate reconciling items that may have been considered de minimis in prior years in terms of absolute dollars and on a percentage basis are amplified on a percentage basis in the current year even though the absolute dollar value of the reconciling items are similar to prior year. As such, comparability of information disclosed for fiscal 2019 in comparison to fiscal 2020 and fiscal 2021 may be difficult as a result of the amplifying effect of the lower level of pre-tax income.

Schedule of Deferred Tax Assets and Liabilities

These differences consist of the following as of January 29, 2022 and January 30, 2021:

	January 29, 2022		January 30, 2021
Deferred tax assets:
Operating lease liabilities	$	141,918	$	182,875
Accrued liabilities and allowances	18,346		13,529
Share-based compensation	2,661		1,774
Property related	353		1,200
Charitable contribution limitation carryforwards	—		706
State and foreign net operating loss carryforwards	10,210		11,808
Federal and state tax credit carryforwards	4,227		4,429
Other	1,438		2,900
Total deferred tax assets	179,153		219,221
Valuation allowance	(35,754)		(36,081)
Net deferred tax assets	143,399		183,140
Deferred tax liabilities:
Operating lease assets	(118,808)		(153,791)
Inventories	(4,173)		—
Prepaid and other expenses	(2,390)		(1,572)
Property related	(14,222)		(24,371)
Other intangible assets	(5,306)		(4,718)
Total deferred tax liabilities	(144,899)		(184,452)
Net deferred taxes	$	(1,500)	$	(1,312)

Schedule of Uncertain Tax Positions Reconciliation

A reconciliation of the beginning and ending amounts of uncertain tax positions for each of fiscal 2021, fiscal 2020 and fiscal 2019 is as follows:

 

	Fiscal 2021		Fiscal 2020		Fiscal 2019
Balance at beginning of year	$	667	$	747	$	1,505
Additions for tax positions of prior years	—		—		82
Reductions for tax positions of prior years	(280)		—		(45)
Additions for tax positions for the current year	137		—		—
Settlements/payments with tax authorities	(87)		—		(538)
Reductions due to lapse of applicable statutes of limitation	—		(80)		(257)
Balance at end of year	$	437	$	667	$	747