INCOME TAXES (Tables)

12 Months Ended

Feb. 01, 2025

Notes Tables

Schedule of Components of Income Tax Expense (Benefit)

($ thousands)	2024		2023		2022
Federal
Current	$	3,818	$	10,849	$	11,506
Deferred		13,710		5,138		6,975
Total federal income tax provision		17,528		15,987		18,481
State
Current		1,876		2,423		6,660
Deferred		4,775		(9,819)		3,421
Total state income tax provision (benefit)		6,651		(7,396)		10,081
International
Current		5,289		4,879		4,759
Deferred		(407)		(3,980)		18
Total international income tax provision		4,882		899		4,777
Total income tax provision	$	29,061	$	9,490	$	33,339

Schedule of Effective Income Tax Rate Reconciliation

($ thousands)	2024		2023		2022
Income taxes at statutory rate	$	28,383	$	38,078	$	44,737
State income taxes, net of federal tax benefit		4,514		5,710		8,981
International earnings taxed at differing rates from U.S. statutory		(3,584)		(5,367)		(1,974)
Share-based compensation		(2,647)		(3,106)		(602)
Valuation allowances, net		(2,204)		(30,054)		(20,743)
Non-deductibility of 162(m) limitations		3,401		4,373		3,363
GILTI, BEAT and FDII provisions		1,307		427		422
Other (1)		(109)		(571)		(845)
Total income tax provision	$	29,061	$	9,490	$	33,339

(1) The other category of income tax provision principally represents the impact of expenses that are not deductible or partially deductible for federal income tax purposes and the impact of any return-to-provision adjustments.

Schedule of Deferred Tax Assets and Liabilities

($ thousands)	February 1, 2025		February 3, 2024
Deferred Tax Assets
Lease obligations	$	158,310	$	148,242
Goodwill		30,308		34,386
Net operating loss carryforward/carryback		6,551		10,107
Accrued expenses		14,053		17,870
Employee benefits, compensation and insurance		10,954		15,689
Accounts receivable		4,043		6,094
Inventory capitalization and inventory reserves		6,532		6,623
Impairment of investment in nonconsolidated affiliate		1,418		1,470
Postretirement and postemployment benefit plans		201		207
Other		3,444		1,605
Total deferred tax assets, before valuation allowance		235,814		242,293
Valuation allowance		(3,406)		(7,153)
Total deferred tax assets, net of valuation allowance	$	232,408	$	235,140
Deferred Tax Liabilities
Lease right-of-use assets	$	(149,414)	$	(138,315)
Intangible assets		(15,472)		(13,659)
LIFO inventory valuation		(54,808)		(51,021)
Retirement plans		(18,184)		(17,239)
Capitalized software		(1,797)		(1,800)
Depreciation		(17,100)		(16,822)
Other		(2,579)		(3,419)
Total deferred tax liabilities		(259,354)		(242,275)
Net deferred tax liability	$	(26,946)	$	(7,135)