Income Taxes (Tables)

12 Months Ended

Feb. 03, 2018

Income Tax Disclosure [Abstract]

Income Tax Expense

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):

	53 Weeks Ended February 3, 2018			52 Weeks Ended January 28, 2017			52 Weeks Ended January 30, 2016
Current tax expense:
Federal	$	5,141		$	7,325		$	8,120
State	876			845			761
Deferred tax (benefit) expense:
Federal	(1,207		)	(1,379		)	601
State	(290		)	(862		)	42
	$	4,520		$	5,929		$	9,524

Reconciliation of Income Tax Expense 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):

	53 Weeks Ended February 3, 2018			52 Weeks Ended January 28, 2017			52 Weeks Ended January 30, 2016
Tax at federal statutory rate	$	3,308		$	5,941		$	9,134
State income taxes, net of federal benefit	559			598			844
Tax credits	(174		)	(255		)	(506		)
Enactment of tax legislation	419			—			—
Unrecognized tax positions	(185		)	(202		)	—
Stock based compensation programs	575			23			22
Other	18			(176		)	30
Income tax expense	$	4,520		$	5,929		$	9,524

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 3, 2018			January 28, 2017
Deferred tax assets:
Accruals	$	2,884		$	3,208
Inventory valuation	671			898
State tax credit carryforwards	197			190
State net operating loss carryforwards	14			—
Deferred rent	3,966			5,745
Other	3,933			5,922
Total deferred tax assets	11,665			15,963
Valuation allowance for deferred tax assets	(73		)	(56		)
Net deferred tax assets	11,592			15,907
Deferred tax liabilities:
Depreciation	(8,742		)	(14,421		)
Prepaid assets	(634		)	(767		)
Total deferred tax liabilities	(9,376		)	(15,188		)
Net deferred tax assets	$	2,216		$	719

Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	53 Weeks Ended February 3, 2018			52 Weeks Ended January 28, 2017
	(In thousands)
Balance at the beginning of the year	$	144		$	307
Reductions due to lapse of the statute of limitations	(144		)	(163		)
Balance at the end of the year	$	—		$	144