Quarterly report pursuant to Section 13 or 15(d)

Restructuring and Other Charges (Tables)

v3.7.0.1
Restructuring and Other Charges (Tables)
3 Months Ended
Apr. 29, 2017
Restructuring and Other Charges  
Summary of charges incurred

 

 

No charges were incurred under these initiatives in the first quarter of fiscal 2017.  A summary of the charges incurred in the first quarter of fiscal 2016 is presented in the table below (amounts in thousands):

 

 

 

 

 

 

 

 

 

 

 

For the Three Months Ended

 

 

 

April 30, 2016

 

Consulting costs

 

$

4,952

 

Severance and employee-related costs

 

 

3,756

 

Store asset impairment charges and accelerated depreciation, net of deferred rent

 

 

2,010

 

Lease termination costs

 

 

1,891

 

Other costs

 

 

552

 

Total pre-tax restructuring and other charges(1)

 

$

13,161

 

 

(1) Consists of $13.0 million in SG&A and $0.2 million included in cost of sales in the condensed consolidated statement of earnings. Of the total amount recorded in the table above, $5.7 million relates to our retail segment and $7.5 million relates to shared services.

 

Rollforward of amounts related to pre-tax restructuring and other charges

The following table is a rollforward of amounts included in accrued expenses and other current liabilities in the condensed consolidated balance sheet related to the pre-tax restructuring and other charges (amounts in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Severance and

 

Lease

 

 

 

 

 

 

 

 

 

 

 

 

Employee-

 

Termination

 

Consulting

 

Other

 

 

 

 

 

    

Related Costs

    

Costs

    

Costs

    

Costs

    

Total

 

Beginning Balance, January 28, 2017

 

$

986

 

$

4,834

 

$

60

 

$

25

 

$

5,905

 

Charges, excluding non-cash items

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

Payments

 

 

(171)

 

 

(2,728)

 

 

(60)

 

 

 —

 

 

(2,959)

 

Ending Balance, April 29, 2017

 

$

815

 

$

2,106

 

$

 —

 

$

25

 

$

2,946