Income Taxes (Tables)

12 Months Ended

Jan. 27, 2023

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Taxes

The Company’s income (loss) before income taxes in the United States and in foreign jurisdictions is as follows:

(in thousands)	Fiscal 2022			Fiscal 2021			Fiscal 2020
Income (loss) before income taxes
United States	$	4,646		$	52,963		$	173
Foreign		(19,325	)		(6,994	)		12,419
Total (loss) income before income taxes	$	(14,679	)	$	45,969		$	12,592

Schedule of Components of the Provision for (Benefit from) Income Taxes

The components of the provision for (benefit from) income taxes are as follows:

(in thousands)	Fiscal 2022			Fiscal 2021		Fiscal 2020
United States	$	(3,258	)	$	12,215	$	725
Foreign		1,109			385		1,031
Total (benefit) provision	$	(2,149	)	$	12,600	$	1,756

(in thousands)	Fiscal 2022			Fiscal 2021			Fiscal 2020
Current:
Federal	$	(3,928	)	$	11,370		$	8,334
State		(273	)		1,627			3,675
Foreign		1,125			385			517
Total current		(3,076	)		13,382			12,526
Deferred:
Federal		682			(1,426	)		(8,413	)
State		261			644			(2,871	)
Foreign		(16	)		—			514
Total deferred		927			(782	)		(10,770	)
Total (benefit) provision	$	(2,149	)	$	12,600		$	1,756

Reconciliation of the Effective Income Tax Rate

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

	Fiscal 2022			Fiscal 2021			Fiscal 2020
Tax at statutory federal tax rate		21.0	%		21.0	%		21.0	%
State income taxes, net of federal tax benefit		0.1	%		3.9	%		5.0	%
Foreign differential		27.2	%		(5.2	)%		2.7	%
Permanent differences		(3.4	)%		1.9	%		16.8	%
CARES Act		—	%		—	%		(24.6	)%
Uncertain tax benefits		1.1	%		1.1	%		(1.6	)%
Change in foreign valuation allowance		(32.4	)%		4.9	%		(3.8	)%
Foreign branches		—	%		—	%		—	%
Other, net		1.0	%		(0.2	)%		(1.6	)%
Total		14.6	%		27.4	%		13.9	%

Summary of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities consisted of the following:

(in thousands)	January 27, 2023			January 28, 2022			January 29, 2021
Deferred tax assets
Deferred revenue	$	5,946		$	6,528		$	4,882
Legal accruals		2,053			2,461			3,551
Deferred compensation		10,246			18,328			16,147
Deferred interest		10,011			—			—
Reserve for returns		2,938			2,958			3,072
Inventory		4,303			3,730			6,390
CTA investment in foreign subsidiaries		4,525			3,361			2,987
Operating lease liabilities		8,112			8,677			9,677
Other		1,980			2,402			2,668
Net operating loss carryforward		11,057			5,211			3,093
Total deferred tax assets		61,171			53,656			52,467
Less valuation allowance		(11,207	)		(6,009	)		(3,896	)
Net deferred tax assets	$	49,964		$	47,647		$	48,571
Deferred tax liabilities
Intangible assets	$	61,715		$	62,295		$	62,372
LIFO reserve		21,263			18,118			15,191
Property and equipment		4,461			4,396			8,660
Operating lease right-of-use assets		6,670			7,089			7,882
Catalog advertising		1,808			1,940			1,812
Total deferred tax liabilities		95,917			93,838			95,917
Net deferred tax liability	$	45,953		$	46,191		$	47,346

Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending gross amount of unrecognized tax benefits (“UTBs”) is as follows:

	Fiscal 2022			Fiscal 2021			Fiscal 2020
Gross UTBs balance at beginning of period	$	1,477		$	1,012		$	1,202
Tax positions related to the prior periods - gross    (decreases) increases		(180	)		539			(190	)
Settlements		—			(74	)		—
Gross UTBs balance at end of period	$	1,297		$	1,477		$	1,012