Income Taxes (Tables)

12 Months Ended

Feb. 01, 2025

Income Tax Disclosure [Abstract]

Income Tax Expense (Benefit)

The Company’s income tax expense is computed based on the federal statutory rates and the state statutory rates, net of related federal benefit. The Company’s provision for income taxes consists of the following (in thousands):

	52 Weeks Ended February 1, 2025		53 Weeks Ended February 3, 2024		52 Weeks Ended January 28, 2023
Current tax expense (benefit):
Federal	$	—	$	46	$	(153	)
State		316		473		696
Income tax expense	$	316	$	519	$	543

Reconciliation of Income Tax Expense (Benefit) at the Statutory Federal Income Tax Rate

A reconciliation of income tax expense at the statutory federal income tax rate to the amount provided is as follows (in thousands):

	52 Weeks Ended February 1, 2025			53 Weeks Ended February 3, 2024			52 Weeks Ended January 28, 2023
Tax at federal statutory rate	$	(4,791	)	$	(5,719	)	$	(9,272	)
State income taxes, net of federal benefit		(133	)		(293	)		(798	)
Tax credits		(87	)		(107	)		(79	)
Executive compensation		—			(23	)		886
Stock based compensation programs		111			209			(1,296	)
Valuation allowance		5,205			6,399			11,134
Other		11			53			(32	)
Income tax expense	$	316		$	519		$	543

Significant Components of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands):

	February 1, 2025			February 3, 2024
Deferred tax assets:
Operating lease liabilities	$	33,865		$	36,406
Accruals		1,741			2,090
Inventory valuation		343			277
Federal and state tax credit carryforwards		206			192
Federal and state net operating loss carryforwards		18,433			15,794
Other		5,770			3,989
Total deferred tax assets		60,358			58,748
Valuation allowance for deferred tax assets		(26,302	)		(21,206	)
Net deferred tax assets		34,056			37,542
Deferred tax liabilities:
Property and equipment		(2,939	)		(4,653	)
Operating lease right-of-use assets		(30,574	)		(32,194	)
Prepaid assets		(543	)		(695	)
Total deferred tax liabilities		(34,056	)		(37,542	)
Net deferred tax assets	$	—		$	—