Income Taxes (Tables)

12 Months Ended

Feb. 02, 2024

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) 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 2023			Fiscal 2022			Fiscal 2021
(Loss) income before income taxes
United States	$	(126,745	)	$	4,646		$	52,963
Foreign		(5,072	)		(19,325	)		(6,994	)
Total (loss) income before income taxes	$	(131,817	)	$	(14,679	)	$	45,969

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 2023			Fiscal 2022			Fiscal 2021
United States	$	(1,482	)	$	(3,258	)	$	12,215
Foreign		349			1,109			385
Total (benefit) provision	$	(1,133	)	$	(2,149	)	$	12,600

(in thousands)	Fiscal 2023			Fiscal 2022			Fiscal 2021
Current:
Federal	$	(3,092	)	$	(3,928	)	$	11,370
State		(192	)		(273	)		1,627
Foreign		338			1,125			385
Total current		(2,946	)		(3,076	)		13,382
Deferred:
Federal		(316	)		682			(1,426	)
State		2,118			261			644
Foreign		11			(16	)		—
Total deferred		1,813			927			(782	)
Total (benefit) provision	$	(1,133	)	$	(2,149	)	$	12,600

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 2023			Fiscal 2022			Fiscal 2021
Tax at statutory federal tax rate		21.0	%		21.0	%		21.0	%
State income taxes, net of federal tax benefit		(1.1	)%		0.1	%		3.9	%
Foreign differential		2.1	%		27.2	%		(5.2	)%
Permanent differences		(0.8	)%		(3.4	)%		1.9	%
Uncertain tax benefits		0.1	%		1.1	%		1.1	%
Change in foreign valuation allowance		(2.2	)%		(32.4	)%		4.9	%
Goodwill impairment		(17.0	)%		—	%		—	%
Other, net		(1.2	)%		1.0	%		(0.2	)%
Total		0.9	%		14.6	%		27.4	%

Summary of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities consisted of the following:

(in thousands)	February 2, 2024			January 27, 2023			January 28, 2022
Deferred tax assets
Deferred revenue	$	7,388		$	5,946		$	6,528
Legal accruals		1,418			2,053			2,461
Deferred compensation		6,100			10,246			18,328
Deferred interest		640			10,011			—
Reserve for returns		2,867			2,938			2,958
Inventory		4,510			4,303			3,730
CTA investment in foreign subsidiaries		4,271			4,525			3,361
Operating lease liabilities		7,017			8,112			8,677
Other		1,369			1,980			2,402
Net operating loss carryforward		26,544			11,057			5,211
Total deferred tax assets		62,124			61,171			53,656
Less valuation allowance		(16,292	)		(11,207	)		(6,009	)
Net deferred tax assets	$	45,832		$	49,964		$	47,647
Deferred tax liabilities
Intangible assets	$	61,785		$	61,715		$	62,295
LIFO reserve		19,137			21,263			18,118
Property and equipment		5,662			4,461			4,396
Operating lease right-of-use assets		5,709			6,670			7,089
Catalog advertising		1,559			1,808			1,940
Total deferred tax liabilities		93,852			95,917			93,838
Net deferred tax liability	$	48,020		$	45,953		$	46,191

Schedule of Unrecognized Tax Benefits

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

	Fiscal 2023			Fiscal 2022			Fiscal 2021
Gross UTBs balance at beginning of period	$	1,297		$	1,477		$	1,012
Tax positions related to the prior periods - gross    (decreases) increases		(156	)		(180	)		539
Settlements		—			—			(74	)
Gross UTBs balance at end of period	$	1,141		$	1,297		$	1,477