Restructuring and Strategic Charges

12 Months Ended

Feb. 02, 2019

Restructuring and Related Activities [Abstract]

RESTRUCTURING AND STRATEGIC CHARGES:

During the first quarter of fiscal 2016, we expanded our restructuring program that was initiated in fiscal 2014 to include components of our strategic initiatives that further aligned the organizational structure with long-term growth initiatives and to reduce COGS and SG&A. These strategic initiatives included realigning marketing and digital commerce, improving supply chain efficiency, reducing non-merchandise expenses, optimizing marketing spend and transition of executive leadership. We also adjusted the estimated store closures to 150 through fiscal 2017 in connection with this restructuring and strategic program. In fiscal 2016, the Company recorded pre-tax restructuring and strategic charges of $31.0 million, primarily related to outside services, severance and proxy solicitation costs. We substantially completed this restructuring and strategic program in fiscal 2016 and closed the stores identified for closure in connection with this program. We did not incur any material additional expenses related to this restructuring and strategic program in fiscal 2017 or fiscal 2018.

A summary of the restructuring and strategic charges is presented in the table below:



	Fiscal 2016

	(in thousands)
Impairment charges	$	1,453
Continuing employee-related costs	1,796
Severance charges	9,485
Proxy solicitation costs	5,697
Lease terminations	427
Outside services	12,013
Other charges	156
Restructuring and strategic charges, pre-tax	$	31,027