Income Taxes (Tables)

12 Months Ended

Jan. 28, 2023

Income Tax Disclosure [Abstract]

Schedule of Provision (Benefit) for Income Taxes

The provision (benefit) for income taxes for the Fiscal Years 2022, 2021, and 2020 consists of the following (in thousands):

	For the Fiscal Year Ended
	January 28, 2023			January 29, 2022			January 30, 2021
Current
U.S. Federal	$	14,562		$	9,790		$	(30,304	)
State and local		2,582			1,359			(659	)
Total current		17,144			11,149			(30,963	)
Deferred tax benefit
U.S. Federal		(985	)		(1,913	)		(13,922	)
State and local		340			(1,218	)		(3,277	)
Total deferred tax benefit		(645	)		(3,131	)		(17,199	)
Total income tax provision (benefit)	$	16,499		$	8,018		$	(48,162	)

Schedule of Reconciliation of Statutory Federal Income Tax Rate

A reconciliation of the federal statutory income tax rate of 21% to the Company’s effective tax rate is as follows for the periods presented:

	For the Fiscal Year Ended
	January 28, 2023			January 29, 2022			January 30, 2021
Federal statutory income tax rate		21.0	%		21.0	%		21.0	%
State income taxes, net of federal tax effect		6.1	%		(14.7	)%		4.9	%
Fair market value of warrants and derivative		0.0	%		(59.9	)%		0.0	%
Disallowed officer compensation		2.1	%		(6.0	)%		0.0	%
Goodwill impairment		0.0	%		0.0	%		(2.0	)%
Net operating loss CARES ACT benefit		0.0	%		0.3	%		5.7	%
Valuation allowance		(2.2	)%		14.1	%		(2.9	)%
Equity-based compensation expense		(0.3	)%		4.4	%		(0.2	)%
Charitable contributions		(0.2	)%		0.6	%		0.1	%
Tax return to provision adjustments		1.5	%		(0.2	)%		0.0	%
Other		0.1	%		0.6	%		(0.9	)%
Effective tax rate		28.1	%		(39.8	)%		25.7	%

Components of Deferred Income Tax Assets and (Liabilities)

The components of deferred tax assets (liabilities) were as follows (in thousands):

	January 28, 2023			January 29, 2022
Deferred tax assets
Accrued expenses	$	5,155		$	6,127
State net operating loss carryforward		713			2,514
Start-up costs		409			472
Debt issuance costs		895			1,044
Lease liabilities		40,921			45,724
Total deferred tax assets, gross		48,093			55,881
Less: Deferred tax valuation allowances		(1,350	)		(2,657	)
Total deferred tax assets net of valuation allowances		46,743			53,224
Deferred tax liabilities
Inventory		(1,050	)		(900	)
Lease assets		(30,958	)		(33,976	)
Fixed assets		(5,939	)		(8,466	)
Intangible assets		(18,336	)		(19,976	)
Prepaid expenses		(519	)		(610	)
Total deferred tax liabilities		(56,802	)		(63,928	)
Net deferred tax liabilities	$	(10,059	)	$	(10,704	)

Summary of Changes in Unrecognized Income Tax Benefits

The following table summarizes the changes in the Company’s unrecognized income tax benefits for Fiscal Years 2022, 2021 and 2020 (in thousands):

	For the Fiscal Year Ended
	January 28, 2023		January 29, 2022		January 30, 2021
Balance at the beginning of the period	$	399	$	336	$	—
Increases based on tax positions related to the current period		—		—		336
Increases for tax positions related to prior periods		26		63		—
Balance at the end of the period	$	425	$	399	$	336