Income Taxes (Tables)

12 Months Ended

Jan. 29, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Provision

The significant components of the income tax provision were as follows:

	Fiscal Year Ended
	January 29, 2022			January 30, 2021			February 1, 2020
	(Dollars in millions)
Current:
Federal	$	11.7		$	18.9		$	2.3
State and local		1.7			13.0			1.9
		13.4			31.9			4.2
Deferred:
Federal		0.1			(1.8	)		7.5
State and local		(0.5	)		(2.1	)		0.4
		(0.4	)		(3.9	)		7.9
Income tax provision	$	13.0		$	28.0		$	12.1

Schedule of Reconciliation of Income Tax Provision

The reconciliation of the income tax provision at the statutory rate to the income tax provision was as follows:

	Fiscal Year Ended
	January 29, 2022					January 30, 2021					February 1, 2020
	(Dollars in millions)
Federal income tax provision (benefit) at the statutory rate	$	14.6		21.0	%	$	50.5		21.0	%	$	(112.2	)	21.0	%
Effect of:
Goodwill impairment		—		—			—		—			101.2		(18.9	)
Changes in valuation allowances		(0.4	)	(0.6	)		(25.5	)	(10.6	)		29.3		(5.5	)
State and local taxes, net of federal benefit		1.7		2.4			12.8		5.3			(4.6	)	0.9
Revaluation of federal NOL carryback		—		—			(4.8	)	(2.0	)		—		—
Officers’ life insurance		(1.3	)	(1.9	)		(0.4	)	(0.2	)		(1.1	)	0.2
Uncertain tax positions (inclusive of penalties and interest)		0.1		0.1			(0.5	)	(0.2	)		1.1		(0.2	)
Federal general business credits		(1.0	)	(1.4	)		(0.8	)	(0.3	)		(0.9	)	0.1
Revaluation of deferred tax liability due to state tax law changes		(1.0	)	(1.4	)		(0.2	)	(0.1	)		(0.4	)	0.1
Other, net		0.3		0.5			(3.1	)	(1.2	)		(0.3	)	—
Income tax provision	$	13.0		18.7	%	$	28.0		11.7	%	$	12.1		(2.3	)%

Schedule of Components of Deferred Tax Assets and Liabilities

The significant components of the Company’s deferred tax assets and liabilities were as follows:

	January 29, 2022			January 30, 2021
	(Dollars in millions)
Deferred tax assets:
Lease obligations	$	231.1		$	245.2
Interest expense carryforward		1.8			1.9
Team member benefits		11.6			11.0
Inventory items		9.3			7.3
State credits		2.1			2.6
Federal net operating loss carryforwards		1.0			1.3
State net operating loss carryforwards		0.4			1.1
Other		5.3			4.6
Subtotal		262.6			275.0
Valuation allowances		(3.9	)		(4.4	)
Total deferred tax assets		258.7			270.6
Deferred tax liabilities:
Depreciation		(43.7	)		(45.9	)
Identified intangibles		(94.4	)		(96.9	)
Operating lease assets		(208.3	)		(215.1	)
Total deferred tax liabilities		(346.4	)		(357.9	)
Net deferred taxes	$	(87.7	)	$	(87.3	)

Schedule of Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amounts of uncertain tax positions for the past three fiscal years is as follows:

	Fiscal Year Ended
	January 29, 2022			January 30, 2021			February 1, 2020
	(Dollars in millions)
Balance at beginning of fiscal year	$	1.2		$	9.9		$	2.8
Increases related to prior year tax positions		0.4			0.3			7.1
Decreases related to prior year tax positions		—			—			—
Settlements		(0.2	)		(8.7	)		—
Lapse of statute of limitations		(0.2	)		(0.3	)		—
Balance at end of fiscal year	$	1.2		$	1.2		$	9.9