Restructuring Costs |
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Oct. 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring Costs [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring Costs |
(15) Restructuring Costs 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 $209,000 for the three-month periods ended May 2, 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 July 31, 2021. During the third quarter of fiscal 2021, the Company implemented an additional cost optimization initiative. As a result of the third quarter fiscal 2021 cost optimization initiative, the Company recorded restructuring charges of $634,000 for the three-month period ended October 30, 2021, which relate primarily to severance associated with the additional consolidation and elimination of positions across the Company’s ShopHQ segment. These initiatives were substantially complete and remain unpaid as of October 30, 2021. The following table summarizes the significant components and activity under the restructuring program for the nine-month period ended October 30, 2021:
The liability for restructuring accruals is included in accrued liabilities within the accompanying condensed consolidated balance sheets. |