RESTRUCTURING AND OTHER CHARGES
|12 Months Ended|
Jan. 28, 2017
|RESTRUCTURING AND OTHER CHARGES|
|RESTRUCTURING AND OTHER CHARGES||
4. RESTRUCTURING AND OTHER CHARGES
During the fourth quarter of fiscal 2015, we began implementing initiatives intended to reduce costs and improve operating performance. These initiatives included a store rationalization program which identified approximately 250 stores to be closed as well as a profit improvement program to drive operating efficiencies and improve our expense structure. These programs were substantially completed in fiscal 2016 and resulted in the closure of 75 Jos. A. Bank full line stores, the closure of 56 factory and outlet stores at Jos. A. Bank and Men’s Wearhouse and the closure of 102 Men’s Wearhouse and Tux stores.
A summary of the charges incurred in fiscal 2016 and fiscal 2015 is presented in the table below (amounts in thousands):
Cumulative pre-tax restructuring and other charges related to these completed programs was $109.6 million, of which approximately $68.1 million were cash expenses.
The following table is a rollforward of amounts included in accrued expenses and other current liabilities in the consolidated balance sheet related to the pre-tax restructuring and other charges (amounts in thousands):
The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.
Reference 1: http://www.xbrl.org/2003/role/presentationRef