Quarterly report pursuant to Section 13 or 15(d)

Restructuring Costs

v3.22.2.2
Restructuring Costs
6 Months Ended
Jul. 30, 2022
Restructuring Costs  
Restructuring Costs

(14)  Restructuring Costs

During the second quarter of fiscal 2022, the Company implemented an additional cost optimization initiative. As a result of the second quarter fiscal 2022 cost optimization initiative, the Company recorded restructuring charges of $2,939 for the six-month period ended July 30, 2022, which relate primarily to severance associated with the additional consolidation and elimination of positions across all the Company’s reportable segments. These initiatives were substantially complete as of July 30, 2022.

The following table summarizes the significant components and activity under the restructuring program for the six-month period ended July 30, 2022:

Balance at

Balance at

January 29, 2022

Charges

Cash Payments

July 30, 2022

Severance

$

557

$

2,124

$

(1,593)

$

1,088

Other incremental costs

815

(815)

$

557

$

2,939

$

(2,408)

$

1,088

The liability for restructuring accruals is included in accrued liabilities within the accompanying condensed consolidated balance sheets.