Gilly Hicks Restructuring

6 Months Ended

Aug. 01, 2015

Restructuring and Related Activities [Abstract]

GILLY HICKS RESTRUCTURING

GILLY HICKS RESTRUCTURING

On November 1, 2013, A&F’s Board of Directors approved the closure of the Company’s 24 stand-alone Gilly Hicks stores. The Company substantially completed the store closures as planned by the end of the first quarter of Fiscal 2014. As a result of exiting the Gilly Hicks branded stores, approximately $88.3 million of cumulative pre-tax charges have been incurred to date, including a benefit of $1.6 million for the twenty-six weeks ended August 1, 2015, primarily related to better than expected lease exit terms. During Fiscal 2015, the Company's liability related to the Gilly Hicks restructuring decreased from approximately $6.0 million to approximately $2.9 million as of August 1, 2015 as a result of lease termination benefits and cash payments applied against the liability.