|6 Months Ended|
Aug. 01, 2020
|Restructuring Costs [Abstract]|
During the first quarter of fiscal 2020, the Company implemented and completed a cost optimization initiative, which eliminated positions across the Company’s ShopHQ segment, the majority of whom were employed in customer service, order fulfillment and television production. As a result of the first quarter fiscal 2020 cost optimization initiative, the Company recorded restructuring charges of $0 and $209,000 for the three and six-month periods ended August 1, 2020, which relate primarily to severance and other incremental costs associated with the consolidation and elimination of positions across the Company's ShopHQ segment. These initiatives were substantially completed as of August 1, 2020, with related cash payments expected to continue through the third quarter of fiscal 2020.
During second quarter of fiscal 2019, the Company implemented a cost initiative to streamline its organizational structure and realign its cost base with sales declines. During the second quarter of 2019, the Company implemented and completed a cost optimization initiative, which reduced and flattened the Company's organizational structure, closed the New York office, closed the Los Angeles office and related product development initiatives, and reduced corporate overhead costs. The second quarter 2019 initiative included the elimination of 11 senior executive roles and a 20% reduction to the Company's non-variable workforce. As a result of the second quarter of fiscal 2019 cost optimization initiatives, the Company recorded restructuring charges of $5,165,000 for the three and six-month periods ended August 3, 2019, which relate primarily to severance and other incremental costs associated with the consolidation and elimination of positions across the Company's ShopHQ segment. Both of the Company's operating segments were affected by these actions, including $4,337,000 related to the ShopHQ segment and $828,000 related to the Emerging segment.
The following table summarizes the significant components and activity under the restructuring program for the six-month period ended August 1, 2020:
The liability for restructuring accruals is included in current accrued liabilities within the accompanying condensed consolidated balance sheets.
The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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