Income Taxes

6 Months Ended

Aug. 03, 2019

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

The provision for income taxes is based on a current estimate of the annual effective tax rate and is adjusted as necessary for quarterly events. Our effective income tax rate may fluctuate from quarter to quarter as a result of a variety of factors, including changes in our assessment of certain tax contingencies, valuation allowances, changes in tax law, outcomes of administrative audits, the impact of discrete items and the mix of earnings.

For the thirteen weeks ended August 3, 2019 and August 4, 2018, the Company's effective tax rate was 0.0% and 25.4%, respectively. The 0.0% effective tax rate was primarily the result of an income tax benefit on the second quarter operating loss, offset by a true-up from the first quarter provision due to an increase in the forecasted annual effective tax rate.

For the twenty-six weeks ended August 3, 2019 and August 4, 2018, the Company's effective tax rate was 109.1% and 27.0%, respectively. The effective tax rates of 109.1% and 27.0% was primarily the result of the additional tax expense related to employee share-based awards against lower pre-tax income.