INCOME TAXES (Tables)

12 Months Ended

Jan. 31, 2015

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

The provision (benefit) for income taxes consists of the following for the years ended January 31, 2015, February 1, 2014 and February 2, 2013:

(dollars in thousands)	2014		2013		2012
Current
Federal	$	(6,746)	$	17,079	$	11,298
State		68		1,489		834
		(6,678)		18,568		12,132

Deferred
Federal		(11,061)		(5,060)		(3,865)
State		(2,273)		(812)		633
		(13,334)		(5,872)		(3,232)

	$	(20,012)	$	12,696	$	8,900

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

The income tax effects of temporary differences that give rise to significant portions of the deferred income tax assets and deferred income tax liabilities as of year-end are presented below:

(dollars in thousands)	2014		2013
Deferred income tax assets:
Accrual for incentive compensation	$	569	$	528
Allowance for doubtful accounts		927		1,017
Insurance accruals		1,921		2,545
Other accruals		6		19
Net operating loss carryforwards		5,788		4,498
Deferred Revenue		859		755
Federal benefit on state reserves		90		311
WOTC Credit Carryforward		1,318		-
Amortization of intangibles		14,383		13,076
Total deferred income tax assets		25,861		22,749
Less: Valuation allowance		2,249		2,051
Deferred income tax assets, net of valuation allowance		23,612		20,698

Deferred income tax liabilities:
Postretirement benefits		(149)		(144)
Property, plant and equipment		(14,338)		(15,767)
Inventory valuation		(19,182)		(28,542)
Prepaid expenses		(560)		(170)
Total deferred income tax liabilities		(34,229)		(44,623)

Net deferred income tax liabilities	$	(10,617)	$	(23,925)

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

A reconciliation of the statutory federal income tax rate to the effective income tax rate is as follows:

	2014			2013			2012
Income tax provision at statutory rate		35.0	%		35.0	%		35.0	%
State income taxes, net of federal benefit		4.5			2.2			4.7
Tax credits, principally jobs		2.6			(2.9)			(1.0)
Uncertain tax provisions		0.1			(1.3)			(12.7)
Change in state valuation allowance		(0.4)			0.2			(2.2)
Other		(0.4)			(0.8)			(1.0)
Permanent differences		(0.5)			0.4			0.3
Effective income tax rate		40.9	%		32.8	%		23.1	%

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

A reconciliation of the beginning and ending amount of the unrecognized tax benefits is as follows:

(in millions)	2014		2013		2012
Beginning balance	$	1.3	$	2.1	$	9.6
Additions for tax position during the current year		-		0.2		0.1
Additions for tax positions of prior years		0.1		0.1		0.1
Reductions for tax positions of prior years from lapse of statue		-		(1.1)		(0.9)
Reductions for settlements of prior year tax positions		(1.1)		-		(6.8)
Ending balance	$	0.3	$	1.3	$	2.1