Income Taxes (Tables)

12 Months Ended

Feb. 02, 2019

Income Tax Disclosure [Abstract]

Summary of Income Before Income Taxes

The following is a summary of the income before income taxes (in thousands):

	Year Ended
	February 2,		February 3,		January 28,
	2019		2018		2017
Domestic	$	178,016	$	28,859	$	8,370
Foreign		3,137		1,292		184
Total income before income taxes	$	181,153	$	30,151	$	8,554

Summary of Income Tax Expense (Benefit)

The following is a summary of the income tax expense (benefit) (in thousands):

	Year Ended
	February 2,			February 3,			January 28,
	2019			2018			2017
Current
Federal	$	24,012		$	18,593		$	751
State		6,275			2,761			2,410
Foreign		1,270			933			694
Total current tax expense		31,557			22,287			3,855
Deferred
Federal		(465	)		6,042			2,109
State		(731	)		(355	)		(2,414	)
Foreign		153			(3	)		(397	)
Total deferred tax expense (benefit)		(1,043	)		5,684			(702	)
Total income tax expense	$	30,514		$	27,971		$	3,153

Schedule of Reconciliation of Federal Statutory Tax Rate to Company's Effective Tax Rate

A reconciliation of the federal statutory tax rate to the Company’s effective tax rate is as follows:

	Year Ended
	February 2,			February 3,			January 28,
	2019			2018			2017
Provision at federal statutory tax rate		21.0	%		33.7	%		35.0	%
State income taxes—net of federal tax impact		2.1			4.8			4.8
Goodwill impairment		1.6			17.9			—
Valuation allowance		0.3			1.1			0.9
Meals and entertainment		0.2			1.5			5.0
Other permanent items		0.2			1.3			2.8
Aircraft expenses		0.1			3.6			3.3
Tax rate adjustments		0.1			(0.6	)		(5.8	)
Stock compensation—excess benefits		(8.8	)		(20.9	)		—
Non-deductible stock-based compensation		—			26.7			—
Federal statutory tax rate change		—			20.1			—
Foreign income inclusion—transition tax		—			3.3			—
Net adjustments to tax accruals and other		—			1.4			1.2
Foreign income		—			(0.9	)		(4.2	)
Donation of appreciated property		—			(0.2	)		(8.7	)
Transaction costs		—			—			2.6
Effective tax rate		16.8	%		92.8	%		36.9	%

Components of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands):

	February 2,			February 3,
	2019			2018
Non-current deferred tax assets (liabilities)
Stock-based compensation	$	22,721		$	25,047
Deferred lease credits		20,900			18,355
Accrued expense		16,657			10,488
Inventory		14,735			16,132
Net operating loss carryforwards		1,654			1,584
Property and equipment		(27,583	)		(21,869	)
Tradenames, trademarks and intangibles		(12,386	)		(14,991	)
Prepaid expense and other		(4,209	)		(12,379	)
State tax benefit		(2,250	)		(2,394	)
Convertible senior notes		(1,054	)		(1,890	)
Deferred revenue		(152	)		3,313
Other		2,618			3,105
Non-current deferred tax assets		31,651			24,501
Valuation allowance		(1,618	)		(1,190	)
Net non-current deferred tax assets	$	30,033		$	23,311

Schedule of Reconciliation of Valuation Allowance

A reconciliation of the valuation allowance is as follows (in thousands):

	Year Ended
	February 2,		February 3,		January 28,
	2019		2018		2017
Balance at beginning of fiscal year	$	1,190	$	760	$	158
Net changes in deferred tax assets and liabilities		428		430		602
Balance at end of fiscal year	$	1,618	$	1,190	$	760

Schedule of Reconciliation of Unrecognized Tax Benefits

A reconciliation of the exposures related to unrecognized tax benefits is as follows (in thousands):

	Year Ended
	February 2,			February 3,		January 28,
	2019			2018		2017
Balance at beginning of fiscal year	$	8,152		$	2,190	$	921
Gross increases—prior period tax positions		239			5,491		53
Gross increases—current period tax positions		375			471		1,216
Lapses in statute of limitations		(307	)		—		—
Balance at end of fiscal year	$	8,459		$	8,152	$	2,190