Gilly Hicks Restructuring (Tables)

12 Months Ended

Jan. 31, 2015

Restructuring and Related Activities [Abstract]

Schedule of pre-tax charges incurred to-date related to the closure of the Gilly Hicks stores

Below is a summary of the aggregate pre-tax charges incurred through January 31, 2015 related to the closure of the Gilly Hicks branded stores (in thousands):

Lease terminations and store closure costs	$	48,665
Asset impairment	40,036
Other	1,230
Total charges (1)	$	89,931

⁽¹⁾  As of January 31, 2015, the Company incurred aggregate pre-tax charges related to restructuring plans for the Gilly Hicks brand of $50.4 million for the U.S. Stores segment and $39.5 million for the International Stores segment.

The remaining charges, primarily lease-related, including the net present value of payments related to lease terminations, potential sub-lease losses and other lease-related costs of approximately $1.3 million, are expected to be recognized over the remaining lease terms. These estimates are based on a number of significant assumptions and could change materially.

Costs associated with exit or disposal activities are recorded when the liability is incurred. Below is a roll forward of the liabilities recognized on the Consolidated Balance Sheet as of January 31, 2015, related to the closure of the Gilly Hicks stores (in thousands): 

Accrued liability as of February 1, 2014	$	42,507
Costs incurred	11,631
Cash payments	(48,141		)
Accrued liability as of January 31, 2015	$	5,997