Quarterly report pursuant to Section 13 or 15(d)

Restructuring Costs

v3.20.1
Restructuring Costs
 3 Months Ended
May 02, 2020
Restructuring Costs [Abstract]  
Restructuring Costs
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 quarter 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 May 2, 2020, with related cash payments expected to continue through the third quarter of fiscal 2020.
The following table summarizes the significant components and activity under the restructuring program for the three-month period ended May 2, 2020:
 
 
Balance at
February 1,
2020
 
Charges
 
Cash Payments
 
Balance at
May 2,
2020
Severance
 
$
3,133,000

 
$
141,000

 
$
(1,273,000
)
 
$
2,001,000

Other incremental costs
 
127,000

 
68,000

 
(132,000
)
 
63,000

 
 
$
3,260,000

 
$
209,000

 
$
(1,405,000
)
 
$
2,064,000


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