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Income Taxes	3 Months Ended
May 01, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Note 3 – Income Taxes An estimate of the annual effective tax rate is used at each interim period based on the facts and circumstances available at that time, while the actual effective tax rate is calculated at year-end. For the 13-week period ended May 2, 2020, the Company was not able to use the estimated annual effective tax rate due to an inability to reliably estimate the annual effective tax rate; therefore, the actual effective tax rate for the period was used. For the 13-week period ended May 1, 2021, the Company was able to use the estimated annual effective tax rate. For the 13-week periods ended May 1, 2021 and May 2, 2020, the Company recorded income tax expense of 16.1% of income before income taxes and an income tax benefit of 73.1% of the loss before income taxes, respectively. The change in income taxes for the 13-week period ended May 1, 2021 compared to the prior year period was primarily due to recording a $12.3 million income tax benefit during the prior year period related to the carryback of the 2019 federal net operating loss to prior periods pursuant to the CARES Act and recording an additional income tax benefit of $3.8 million related to the carry back of the projected fiscal 2020 loss to years with a 35% statutory tax rate. The Company recognizes deferred tax assets and liabilities using estimated future tax rates for the effect of temporary differences between the book and tax basis of recorded assets and liabilities, including net operating loss carry forwards. Management assesses the realizability of deferred tax assets and records a valuation allowance if it is more likely than not that all or a portion of the deferred tax assets will not be realized. The Company considers the probability of future taxable income and our historical profitability, among other factors, in assessing the amount of the valuation allowance. Adjustments could be required in the future if the Company estimates that the amount of deferred tax assets to be realized is more than the net amount recorded. Any change in the valuation allowance could have the effect of increasing or decreasing the income tax provision in the statement of operations based on the nature of the deferred tax asset deemed realizable in the period in which such determination is made. As of May 1, 2021 and May 2, 2020, the Company recorded a full valuation allowance against deferred tax assets.

Income Taxes

3 Months Ended

May 01, 2021

Note 3 – Income Taxes

An estimate of the annual effective tax rate is used at each interim period based on the facts and circumstances available at that time, while the actual effective tax rate is calculated at year-end. For the 13-week period ended May 2, 2020, the Company was not able to use the estimated annual effective tax rate due to an inability to reliably estimate the annual effective tax rate; therefore, the actual effective tax rate for the period was used. For the 13-week period ended May 1, 2021, the Company was able to use the estimated annual effective tax rate.

For the 13-week periods ended May 1, 2021 and May 2, 2020, the Company recorded income tax expense of 16.1% of income before income taxes and an income tax benefit of 73.1% of the loss before income taxes, respectively. The change in income taxes for the 13-week period ended May 1, 2021 compared to the prior year period was primarily due to recording a $12.3 million income tax benefit during the prior year period related to the carryback of the 2019 federal net operating loss to prior periods pursuant to the CARES Act and recording an additional income tax benefit of $3.8 million related to the carry back of the projected fiscal 2020 loss to years with a 35% statutory tax rate.

The Company recognizes deferred tax assets and liabilities using estimated future tax rates for the effect of temporary differences between the book and tax basis of recorded assets and liabilities, including net operating loss carry forwards. Management assesses the realizability of deferred tax assets and records a valuation allowance if it is more likely than not that all or a portion of the deferred tax assets will not be realized. The Company considers the probability of future taxable income and our historical profitability, among other factors, in assessing the amount of the valuation allowance. Adjustments could be required in the future if the Company estimates that the amount of deferred tax assets to be realized is more than the net amount recorded. Any change in the valuation allowance could have the effect of increasing or decreasing the income tax provision in the statement of operations based on the nature of the deferred tax asset deemed realizable in the period in which such determination is made. As of May 1, 2021 and May 2, 2020, the Company recorded a full valuation allowance against deferred tax assets.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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