INCOME TAXES	3 Months Ended
May 02, 2015
INCOME TAXES
INCOME TAXES	8.INCOME TAXES The provisions codified within ASC Topic 740, Income Taxes (“ASC 740”), require companies to assess whether valuation allowances should be established against their deferred tax assets based on consideration of all available evidence using a “more likely than not” standard. In accordance with ASC 740, the Company maintained a full valuation allowance throughout fiscal 2014 and the first quarter of 2015 on all of the Company’s net deferred tax assets. The Company’s deferred tax asset valuation allowance totaled $175,356, $156,846 and $161,856 as of May 2, 2015, May 3, 2014 and January 31, 2015, respectively. The Company recorded a net income tax benefit of $159 which includes a $609 non-cash income tax benefit from continuing operations during the first quarter of 2015. Pursuant to ASC 740, the Company is required to consider all items (including items recorded in other comprehensive income) in determining the amount of tax benefit that results from a loss from continuing operations and that should be allocated to continuing operations. As a result, the Company recorded a tax benefit on the loss from continuing operations for the first quarter of 2015, which is exactly offset by income tax expense on other comprehensive income. In addition, the net income tax benefit includes $450 for recognition of deferred tax liabilities associated with indefinite-lived assets. The income tax provision of $448 recorded in the first quarter of 2014 primarily reflects the recognition of deferred tax liabilities associated with indefinite-lived assets.

INCOME TAXES

3 Months Ended

May 02, 2015

8.INCOME TAXES

The provisions codified within ASC Topic 740, Income Taxes (“ASC 740”), require companies to assess whether valuation allowances should be established against their deferred tax assets based on consideration of all available evidence using a “more likely than not” standard. In accordance with ASC 740, the Company maintained a full valuation allowance throughout fiscal 2014 and the first quarter of 2015 on all of the Company’s net deferred tax assets. The Company’s deferred tax asset valuation allowance totaled $175,356, $156,846 and $161,856 as of May 2, 2015, May 3, 2014 and January 31, 2015, respectively.

The Company recorded a net income tax benefit of $159 which includes a $609 non-cash income tax benefit from continuing operations during the first quarter of 2015. Pursuant to ASC 740, the Company is required to consider all items (including items recorded in other comprehensive income) in determining the amount of tax benefit that results from a loss from continuing operations and that should be allocated to continuing operations. As a result, the Company recorded a tax benefit on the loss from continuing operations for the first quarter of 2015, which is exactly offset by income tax expense on other comprehensive income. In addition, the net income tax benefit includes $450 for recognition of deferred tax liabilities associated with indefinite-lived assets. The income tax provision of $448 recorded in the first quarter of 2014 primarily reflects the recognition of deferred tax liabilities associated with indefinite-lived assets.