Restructuring and Other Costs

6 Months Ended

Mar. 02, 2024

Restructuring and Related Activities [Abstract]

Optimization of Company Operations and Profitability Improvement

The Company continues to identify opportunities for improvements in its workforce realignment, strategy and staffing, and its focus on performance management, to ensure it has the right skill sets and number of associates to execute its long-term vision. As such, the Company extends voluntary and involuntary severance and separation benefits to certain associates in order to facilitate its workforce realignment that qualify as exit and disposal costs under accounting principles generally accepted in the United States of America. In the second quarter of fiscal year 2024, Restructuring and other costs principally consisted of severance and separation charges relating to an associate voluntary termination program.

In addition, from time to time, the Company incurs certain expenses that are an integral component of, and directly attribute to, its restructuring activities, which do not qualify as exit and disposal costs under accounting principles generally accepted in the United States of America. These include professional and consulting-related costs directly associated with the optimization of the Company’s operations and profitability improvement, which are also included in Restructuring and other costs in the unaudited Condensed Consolidated Statements of Income.

The following table summarizes Restructuring and other costs for the thirteen- and twenty-six-week periods ended March 2, 2024 and March 4, 2023:


	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	March 2, 2024		March 4, 2023		March 2, 2024		March 4, 2023
Consulting-related costs	$	998	$	1,540	$	1,074	$	3,115
Associate severance and separation costs	4,904		243		5,640		762
Equity award acceleration costs associated with severance	279		—		383		—

Total Restructuring and other costs	$	6,181	$	1,783	$	7,097	$	3,877

Liabilities associated with Restructuring and other costs are included in Accrued expenses and other current liabilities in the unaudited Condensed Consolidated Balance Sheet as of March 2, 2024. The following table summarizes activity related to liabilities associated with Restructuring and other costs for the twenty-six-week period ended March 2, 2024:


	Consulting-related costs		Associate severance and separation costs		Total
Balance at September 2, 2023	$	100	$	1,037	$	1,137
Additions	1,074		5,640		6,714
Payments and other adjustments	(1,057)		(1,448)		(2,505)
Balance at March 2, 2024	$	117	$	5,229	$	5,346