INCOME TAXES (Tables)

12 Months Ended

Jan. 28, 2017

Income Tax Disclosure [Abstract]

Schedule of provision (benefit) for income taxes

The provision (benefit) for income taxes consists of the following for the years ended January 28, 2017, January 30, 2016 and January 30, 2015:

(dollars in thousands)	2016			2015			2014
Current
Federal	$	(3,978	)	$	(4,649	)	$	(6,746	)
State		895			1,021			68
		(3,083	)		(3,628	)		(6,678	)
Deferred
Federal		(10,808	)		(824	)		(11,061	)
State		3,408			(7	)		(2,273	)
		(7,400	)		(831	)		(13,334	)
	$	(10,483	)	$	(4,459	)	$	(20,012	)

Schedule of deferred income tax assets and deferred income tax liabilities

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)	2016			2015
Deferred income tax assets:
Accrual for incentive compensation	$	5,446		$	1,076
Allowance for doubtful accounts		763			1,166
Insurance accruals		2,117			1,651
Other accruals		1,016			82
Net operating loss carryforwards		20,705			6,157
Deferred Revenue		583			523
Federal benefit on state reserves		91			90
WOTC Credit Carryforward		3,896			2,631
Amortization of intangibles		18,448			16,527
Contribution Carryforward		424			101
Total deferred income tax assets		53,489			30,004
Less: Valuation allowance		22,183			2,549
Deferred income tax assets, net of valuation allowance		31,306			27,455
Deferred income tax liabilities:
Postretirement benefits		(43	)		(47	)
Property, plant and equipment		(12,358	)		(11,104	)
Inventory valuation		(19,557	)		(25,813	)
Prepaid expenses		(1,322	)		(215	)
Total deferred income tax liabilities		(33,280	)		(37,179	)
Net deferred income tax liabilities	$	(1,974	)	$	(9,724	)

Schedule of reconciliation of the statutory federal income tax rate

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

	2016			2015			2014
Income tax provision at statutory rate		35.0	%		35.0	%		35.0	%
State income taxes, net of federal benefit		4.6			0.3			4.5
Tax credits, principally jobs		1.0			10.4			2.6
Uncertain tax provisions		-			-			0.1
Change in valuation allowance		(26.4	)		(9.1	)		(0.4	)
Other		0.1			0.3			(0.4	)
Permanent differences		(0.7	)		0.8			(0.5	)
Effective income tax rate		13.6	%		37.7	%		40.9	%

Schedule of unrecognized tax benefits

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

(in millions)	2016		2015		2014
Beginning balance	$	0.4	$	0.4	$	1.3
Additions for tax positions of prior years		-		-		0.1
Reductions for settlements of prior year tax positions		-		-		(1.0	)
Ending balance	$	0.4	$	0.4	$	0.4