Income taxes (Tables)

12 Months Ended

Feb. 03, 2018

Income taxes

Schedule of provision for income taxes

	Fiscal		Fiscal		Fiscal
(In thousands)	2017		2016		2015
Current:
Federal	$	230,006	$	194,199	$	163,048
State		28,714		24,835		18,694
Total current		258,720		219,034		181,742
Deferred:
Federal		(26,256)		24,480		6,981
State		(839)		2,440		(1,291)
Total deferred		(27,095)		26,920		5,690
Provision for income taxes	$	231,625	$	245,954	$	187,432

Schedule of reconciliation of federal statutory rate to effective tax rate

	Fiscal		Fiscal		Fiscal
	2017		2016		2015
Federal statutory rate	33.7	%	35.0	%	35.0	%
State effective rate, net of federal tax benefit	2.4	%	2.8	%	2.2	%
Re-measurement of deferred tax liabilities	(4.9)	%	0.0	%	0.0	%
Excess deduction of stock compensation	(1.2)	%	0.0	%	0.0	%
Other	(0.6)	%	(0.3)	%	(0.3)	%
Effective tax rate	29.4	%	37.5	%	36.9	%

Schedule of components of deferred tax assets and liabilities

	February 3,		January 28,
(In thousands)	2018		2017
Deferred tax assets:
Reserves not currently deductible	$	23,789	$	33,805
Employee benefits		15,273		15,206
Credit carryforwards		343		398
Accrued liabilities		14,625		10,539
Inventory valuation		847		3,630
Total deferred tax assets		54,877		63,578
Deferred tax liabilities:
Property and equipment		54,210		73,454
Deferred rent obligation		49,518		62,252
Prepaid expenses		10,552		14,370
Total deferred tax liabilities		114,280		150,076
Net deferred tax liability	$	(59,403)	$	(86,498)

Schedule of reconciliation of unrecognized tax benefits, excluding interest and penalties

	February 3,		January 28,
(In thousands)	2018		2017
Balance at beginning of the period	$	3,305	$	2,262
Increase due to a prior year tax position		1,064		1,048
Decrease due to a prior period position		(804)		(5)
Balance at the end of the period	$	3,565	$	3,305