Income Taxes (Tables)

12 Months Ended

Jan. 31, 2026

Income Taxes

Schedule of income tax benefit (expense)

Income tax (expense) benefit consists of the following (in thousands):

	Fiscal Year
	2025		2024		2023
Current:
Federal	$	(160)	$	(275)	$	2,025
State		(34)		(420)		(329)
Total current		(194)		(695)		1,696
Deferred:
Federal		(102)		(2,266)		2,635
State		—		(2,875)		(424)
Total deferred		(102)		(5,141)		2,211
Total income tax (expense) benefit	$	(296)	$	(5,836)	$	3,907

Schedule of the reconciliation of income tax (expense) benefit computed using the federal statutory rate to the reported income tax (expense) benefit

Income tax (expense) benefit computed using the federal statutory rate is reconciled to the reported income tax (expense) benefit as follows (in thousands):

	Fiscal year
	2025			2024			2023
	Rate		(Expense) / Benefit	Rate		(Expense) / Benefit	Rate		(Expense) / Benefit
Statutory rate applied to income before income taxes	21%	$	(1,165)	21%	$	7,840	21%	$	3,337
State income taxes, net of federal benefit *	5%		(292)	3%		1,109	2%		240
State tax credits, net of federal benefit	32%		(1,775)	(3)%		(1,001)	(1)%		(167)
General business credits, net of nondeductible expenses	(20)%		1,130	3%		1,235	11%		1,840
Nondeductible compensation	6%		(364)	0%		(46)	0%		—
Excess (deficit) tax benefits from stock-based compensation	(4)%		220	0%		(96)	(3)%		(519)
Valuation Allowance	(37)%		2,028	(39)%		(14,582)	(5)%		(774)
Changes in tax rates	3%		(150)	0%		42	0%		—
Nondeductible or nontaxable items	1%		(52)	0%		(47)	0%		—
Changes in Unrecognized tax benefits	0%		(2)	0%		—	0%		—
Other	(2)%		126	(1)%		(290)	0%		(50)
Income tax (expense) benefit	5%	$	(296)	(16)%	$	(5,836)	25%	$	3,907

* The only state that contributes to the majority (greater than 50%) of the tax effect in this category is Louisiana.

Schedule of the components of deferred tax assets and deferred tax liabilities

Deferred tax assets and deferred tax liabilities consist of the following (in thousands):

	January 31,		February 1,
	2026		2025
Deferred tax assets:
Inventory capitalization	$	1,863	$	1,930
Vacation liability		24		395
Operating lease liabilities		56,683		55,247
State tax credits		767		1,597
Federal tax credits		2,938		1,518
Stock compensation		685		545
Insurance liabilities		554		366
Research and development		150		2,227
Net operating loss and charitable contribution carryforwards		14,815		10,097
Other		606		585
Subtotal deferred tax assets		79,085		74,507
Less: Valuation allowance - net		(15,436)		(16,519)
Total deferred tax assets		63,649		57,988
Deferred tax liabilities:
Right of use asset		(55,072)		(52,935)
Book and tax depreciation differences		(8,398)		(4,783)
Prepaid expenses		(424)		(412)
Total deferred tax liabilities		(63,894)		(58,130)
Net deferred tax (liability) asset	$	(245)	$	(142)

Schedule of (receipts) payments of income taxes

The following table summarizes (receipts) payments of income taxes in fiscal 2025 (in thousands):

	Fiscal Year
	2025
Federal	$	(1,710)
State
North Carolina		10
Georgia		9
Kentucky		9
Other (net of refunds)		(17)
Total (receipts) payments of income taxes	$	(1,699)