INCOME TAXES (Tables)

12 Months Ended

Feb. 02, 2019

A summary of the components of the provision/(benefit) for income taxes is as follows (in thousands):

	Fiscal Year Ended
	February 2, 2019 (52 weeks)			February 3, 2018 (53 weeks)		January 28, 2017 (52 weeks)
Federal:
Current	$	7,375		$	16,154	$	31,007
Deferred		339			3,257		1,359
		7,714			19,411		32,366
State:
Current		1,625			1,668		3,042
Deferred		(202	)		338		13
		1,423			2,006		3,055
Provision for income taxes	$	9,137		$	21,417	$	35,421

Reconciliation of Statutory Federal Income Tax Rate

A reconciliation of the statutory federal income tax rate to the effective tax rate as a percentage of income before provision for income taxes follows:

	Fiscal Year Ended
	February 2, 2019 (52 weeks)			February 3, 2018 (53 weeks)			January 28, 2017 (52 weeks)
Tax provision computed at the federal statutory rate		21.00	%		33.72	%		35.00	%
Effect of state income taxes, net of federal benefits		2.86			2.50			2.22
Enactment of the Tax Cuts and Jobs Act		-			1.39			-
Federal income tax credits		(1.36	)		(0.32	)		(0.45	)
Equity compensation tax deficiencies		1.30			1.23			-
Other, net		0.53			(0.58	)		(0.06	)
		24.33	%		37.94	%		36.71	%

Deferred Income Tax Assets, Net

Deferred income taxes on the consolidated balance sheets result from temporary differences between the amount of assets and liabilities recognized for financial reporting and income tax purposes. The components of the deferred income taxes, net, are as follows (in thousands):

	February 2, 2019 (52 weeks)			February 3, 2018 (53 weeks)
Deferred rent	$	6,333		$	6,971
Inventories		3,442			3,209
Accruals		5,080			3,616
Stock-based compensation		3,681			3,714
Other		328			49
Total deferred tax assets		18,864			17,559

Accumulated depreciation and amortization		(15,089	)		(14,395	)
Prepaid expenses		(1,420	)		(644	)
Other		-			(224	)
State taxes		(77	)		(120	)
Total deferred tax liabilities		(16,586	)		(15,383	)
Deferred income taxes, net	$	2,278		$	2,176

Reconciliation of Unrecognized Tax Benefit

A reconciliation of the unrecognized tax benefit, excluding estimated interest and penalties, under ASC Subtopic 740-10 follows (in thousands):

	February 2, 2019 (52 weeks)			February 3, 2018 (53 weeks)			January 28, 2017 (52 weeks)
Unrecognized tax benefits - beginning of year	$	1,156		$	1,267		$	1,242
Gross increases - tax positions in prior period		246			140			158
Gross decreases - tax positions in prior period		(10	)		(7	)		(26	)
Gross increases - tax positions in current period		107			70			121
Settlements		-			-			-
Lapse of statute of limitations		(254	)		(314	)		(228	)
Unrecognized tax benefits - end of year	$	1,245		$	1,156		$	1,267