Income Taxes (Tables)

12 Months Ended

Jan. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Income/(Loss) before Provision/(Benefit) for Income Taxes

Income/(loss) before provision/(benefit) for income taxes for the fiscal year ended January 31, 2022, 2021 and 2020 on a legal entity basis consists of the following (in thousands):

	2022		2021			2020
U.S. income/(loss) before taxes	$	39,920	$	(121,302	)	$	(1,226	)
Non-U.S. income/(loss) before taxes		77,413		(21,080	)		58,729
Income/(loss) before income taxes	$	117,333	$	(142,382	)	$	57,503

Schedule of Provision/(Benefit) for Income Taxes

The provision/(benefit) for income taxes for the fiscal years ended January 31, 2022, 2021 and 2020 consists of the following components (in thousands):

	2022			2021			2020
Current:
U.S. Federal	$	9,249		$	(21,657	)	$	558
U.S. State and Local		1,179			(703	)		905
Non-U.S.		14,555			9,464			9,309
		24,983			(12,896	)		10,772
Deferred:
U.S. Federal		(2,145	)		(11,139	)		2,337
U.S. State and Local		2,000			(6,321	)		107
Non-U.S.		(64	)		(832	)		1,908
		(209	)		(18,292	)		4,352
Provision/(benefit) for income taxes	$	24,774		$	(31,188	)	$	15,124

Schedule of Significant Components of Deferred Income Tax Assets and Liabilities

Significant components of the Company’s deferred income tax assets and liabilities for the fiscal years ended January 31, 2022 and 2021 are as follows (in thousands):

	2022 Deferred Taxes					2021 Deferred Taxes
	Assets			Liabilities		Assets			Liabilities
Net operating loss carryforwards	$	9,479		$	—	$	11,000		$	—
Inventory		—			377		—			2,292
Unprocessed returns		1,178			—		862			—
Receivables allowances		765			—		843			—
Deferred compensation		15,764			—		15,567			—
Depreciation/amortization		16,545			—		17,434			—
Other provisions/accruals		2,087			—		1,657			—
Deferred occupancy costs		16,024			14,072		17,064			15,140
Miscellaneous		722			—		1,096			—
		62,564			14,449		65,523			17,432
Valuation allowance		(7,022	)		—		(7,007	)		—
Total deferred tax assets and liabilities	$	55,542		$	14,449	$	58,516		$	17,432

On March 27, 2020, Congress passed the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) which provided economic relief to assist American families and companies during the COVID-19 global pandemic. The CARES Act allowed U.S. net operating losses generated in fiscal 2019, 2020 and 2021 to be carried back up to five years to prior taxable years with a U.S. statutory tax rate of 35.0% and to offset 100% of regular taxable income in such years (the “CARES Act NOL Carryback Provision”). The Company generated a U.S. net operating loss of $22.0 million on the fiscal 2021 income tax return which was carried back to prior taxable years.

Schedule of Provision/(Benefit) for Income Taxes for Continuing Operations by Applying U.S. Federal Statutory Rate

The provision/(benefit) for income taxes for the fiscal years ended January 31, 2022, 2021 and 2020 differs from the U.S. federal statutory rate due to the following (in thousands):

	Fiscal Year Ended January 31,
	2022			2021			2020
Provision/(benefit) for income taxes at the U.S. statutory rate	$	24,640		$	(29,900	)	$	12,076
Lower effective non-U.S. income tax rate		(1,366	)		(74	)		(1,876	)
State and local taxes, net of federal benefit		2,511			(5,549	)		800
GILTI, net of foreign tax credits		77			—			2,703
Impairment of goodwill and intangible assets		—			11,694			—
Impact of CARES Act		(1,532	)		(10,231	)		—
Compensation and benefits		1,130			976			93
Other permanent differences		(209	)		173			399
Other, net		(477	)		1,723			929
Total provision/(benefit) for income taxes	$	24,774		$	(31,188	)	$	15,124

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

A reconciliation of the beginning and ending amounts of gross unrecognized tax benefits (exclusive of interest) for the fiscal years ended January 31, 2022, 2021 and 2020 are as follows (in thousands):

	2022			2021			2020
Beginning balance	$	901		$	826		$	1,351
Tax positions taken in the current year		159			204			106
Tax positions taken in prior years		-			(26	)		(125	)
Lapse of statute of limitations		(166	)		(119	)		(114	)
Settlements		-			-			(389	)
Non-U.S. currency exchange fluctuations		(18	)		16			(3	)
Ending balance	$	876		$	901		$	826