Note 7 - Income Taxes (Tables)

12 Months Ended

Feb. 01, 2020

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

($ thousands)	2019		2018			2017
Federal
Current	$	4,003	$	1,953		$	31,102
Deferred		5,390		4,451			(10,358	)
Total federal income tax provision (benefit)		9,393		6,404			20,744
State
Current		290		(718	)		7,691
Deferred		2,403		1,284			913
Total state income tax provision (benefit)		2,693		566			8,604
Foreign		4,425		(7,243	)		6,127
Total income tax provision (benefit)	$	16,511	$	(273	)	$	35,475

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

($ thousands)	2019			2018			2017
Income taxes at statutory rate (1)	$	16,505		$	(1,208	)	$	41,376
State income taxes, net of federal tax benefit		2,218			2,519			3,579
Foreign earnings taxed at lower rates		(3,199	)		(4,210	)		(8,072	)
Share-based compensation		86			(347	)		(1,265	)
Income tax reform, net benefit		—			(3,891	)		(294	)
GILTI, BEAT and FDII provisions		668			613			—
Non-deductibility of goodwill impairment		—			7,989			—
Impairment of foreign tradename taxed at higher rate		—			(2,400	)		—
Valuation allowance release on state loss carryforwards		—			—			(100	)
Non-deductibility of acquisition costs		—			46			—
Other		233			616			251
Total income tax provision (benefit)	$	16,511		$	(273	)	$	35,475

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

($ thousands)	February 1, 2020			February 2, 2019
Deferred Tax Assets
Employee benefits, compensation and insurance	$	12,812		$	14,599
Accrued expenses		18,762			14,936
Postretirement and postemployment benefit plans		314			327
Deferred rent		—			6,524
Lease obligations		200,408			—
Accounts receivable reserves		3,109			7,350
Net operating loss (“NOL”) carryforward/carryback		6,671			6,714
Capital loss carryforward		14			14
Inventory capitalization and inventory reserves		4,123			3,339
Impairment of investment in nonconsolidated affiliate		1,470			1,470
Other		1,349			1,831
Total deferred tax assets, before valuation allowance		249,032			57,104
Valuation allowance		(4,809	)		(4,199	)
Total deferred tax assets, net of valuation allowance	$	244,223		$	52,905
Deferred Tax Liabilities
Lease right-of-use assets	$	(187,978	)	$	—
Retirement plans		(10,466	)		(10,212	)
LIFO inventory valuation		(44,774	)		(42,427	)
Capitalized software		(4,420	)		(3,879	)
Depreciation		(8,416	)		(10,662	)
Intangible assets		(29,636	)		(24,763	)
Other		(3,811	)		(1,115	)
Total deferred tax liabilities		(289,501	)		(93,058	)
Net deferred tax liability	$	(45,278	)	$	(40,153	)