Note 9 - Income Taxes |
6 Months Ended |
|---|---|
Aug. 30, 2026 | |
| Notes to Financial Statements | |
| Income Tax Disclosure [Text Block] |
9. INCOME TAXES
For the 13 weeks and 26 weeks ended August 30, 2026, the Company recorded income tax provisions from operations of $1,037 and $2,305, respectively, which included discrete income tax benefits of $430 and $430, respectively. For the 13 weeks and 26 weeks ended August 31, 2025, the Company recorded income tax provisions from operations of $831 and $1,525, respectively, which included discrete income tax benefits of $10 and $38, respectively.
The Company’s effective tax rates for the 13 weeks and 26 weeks ended August 30, 2026 were 18.6% and 22.2%, respectively, compared to 25.7% and 25.4%, respectively, in the prior year’s comparable periods. The effective tax rate for the 13 weeks ended August 30, 2026 was lower than the U.S. statutory rate of 21% due to the discrete tax benefits recorded in the period. Absent these benefits, the effective tax rate for the 13 weeks ended August 30, 2026 was higher than the U.S. statutory rate of 21% due to state and local taxes and liabilities. The effective rate for the 26 weeks ended August 30, 2026 was higher than the U.S. statutory rate of 21% primarily due to state and local taxes and liabilities, offset by excess tax benefits on stock option exercises. The effective tax rates for the 13 weeks and 26 weeks ended August 31, 2025 were higher than the U.S. statutory rate of 21% primarily due to state and local taxes and liabilities, and the accrual of interest related to unrecognized tax benefits offset by excess tax benefits on stock option exercises.
|