Restructuring Costs |
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Restructuring Costs |
(20) Restructuring Costs During fiscal 2021, the Company implemented and completed an additional cost optimization initiative, which eliminated additional positions across the Company’s entertainment segment, the majority of which were in merchandising and warehouse management. As a result of the fiscal 2021 cost optimization initiative, the Company recorded restructuring charges of $634 for the year ended January 29, 2022, which relate primarily to severance and other incremental costs associated with the elimination of positions across the Company's entertainment segment. These initiatives were substantially completed as of January 29, 2022, with related cash payments expected to continue through the second quarter of fiscal 2022. During fiscal 2020, the Company implemented and completed a cost optimization initiative, which eliminated positions across the Company’s ShopHQ segment, the majority of which were in customer service, order fulfillment and television production. As a result of the fiscal 2020 cost optimization initiative, the Company recorded restructuring charges of $715 for the year ended January 30, 2021, 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 January 30, 2021. During fiscal 2019, the Company implemented numerous cost optimization initiatives to streamline the Company’s organizational structure, accelerate decentralized decision making, and realign its cost base with sales declines. As a result of the fiscal 2019 initiatives, the Company recorded restructuring charges of $9,166. The following table summarizes the significant components and activity under the restructuring program for the years ended January 29, 2022 and January 30, 2021:
The liability for restructuring accruals is included in current accrued liabilities within the accompanying consolidated balance sheet. |