INCOME TAXES

6 Months Ended

Aug. 04, 2024

Income Taxes [Abstract]

INCOME TAXES

INCOME TAXES

The effective income tax rates for the thirteen weeks ended August 4, 2024 and July 30, 2023 were (2.1)% and 21.3%, respectively. The effective income tax rates for the twenty-six weeks ended August 4, 2024 and July 30, 2023 were 9.6% and 22.4%, respectively.

The effective income tax rates for the thirteen and twenty-six weeks ended August 4, 2024 were lower than the prior year periods primarily due to a favorable change in the Company’s uncertain tax positions resulting in a benefit to the Company’s 2024 effective income tax rate of 21.2% and 9.6% in the thirteen and twenty-six week periods, respectively, from the settlement of a multi-year audit in an international jurisdiction.