Quarterly report pursuant to Section 13 or 15(d)

Restructuring and Other Charges (Tables)

v3.8.0.1
Restructuring and Other Charges (Tables)
9 Months Ended
Oct. 28, 2017
Restructuring and Other Charges  
Summary of charges incurred

A summary of the charges incurred in the three and nine months ended October 29, 2016 incurred under these initiatives since inception is presented in the table below (amounts in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Three Months Ended

For the Nine Months Ended

 

 

 

October 29, 2016

October 29, 2016

 

Lease termination costs

 

$

8,667

$

37,004

 

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

 

 

(844)

 

2,330

 

Consulting costs

 

 

1,806

 

13,583

 

Severance and employee-related costs

 

 

481

 

4,643

 

Other costs

 

 

839

 

1,565

 

Total pre-tax restructuring and other charges(1)

 

$

10,949

$

59,125

 


(1) Consists of $12.4 million in SG&A offset by a $1.5 million reduction in cost of sales for the three months ended October 29, 2016.  Of the total amount recorded for the three months ended October 29, 2016, $9.1 million relates to our retail segment and $1.8 million relates to shared services. Consists of $61.8 million included in SG&A offset by a $2.7 million reduction in cost of sales for the nine months ended October 29, 2016.  Of the total amount recorded for the nine months ended October 29, 2016, $42.7 million relates to our retail segment and $16.4 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

 

 

(504)

 

 

(4,377)

 

 

(60)

 

 

(25)

 

 

(4,966)

 

Ending Balance, October 28, 2017

 

$

482

 

$

457

 

$

 —

 

$

 —

 

$

939