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Restructuring and Other Charges | 6 Months Ended
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Sep. 27, 2025
Restructuring and Related Activities [Abstract] |
Restructuring and Other Charges | Restructuring and Other Charges, Net A description of significant restructuring and other activities and their related costs is provided below. Fiscal 2026 Restructuring Activities During the three-month and six-month periods ended September 27, 2025, the Company recorded $9.5 million and $15.9 million, respectively, of cash-related restructuring charges, primarily associated with severance and benefit costs. As of September 27, 2025, the remaining liability related to these cash-related charges was $14.3 million, reflecting cash payments of $1.6 million made during the six months ended September 27, 2025. Fiscal 2025 Restructuring Activities During the three-month and six-month periods ended September 28, 2024, the Company recorded $7.4 million and $10.7 million, respectively, of cash-related restructuring charges, primarily associated with severance and benefit costs. The Company also recorded non-cash-related charges, net of $1.6 million during the three-month and six-month periods ended September 28, 2024, primarily related to stock-based compensation expense recorded in connection with an employment separation agreement. During Fiscal 2025, the Company recorded cumulative restructuring-related charges of $20.4 million, comprised of cash-related restructuring charges of $15.5 million, primarily associated with severance and benefit costs, and non-cash-related charges of $4.9 million, primarily related to stock-based compensation expense recorded in connection with an employment separation agreement. As of September 27, 2025 and March 29, 2025, the remaining liability related to these cash-related charges was $8.8 million and $10.9 million, respectively, reflecting cash payments of $2.5 million and non-cash adjustments of $0.4 million made during the six months ended September 27, 2025. Other Restructuring Activities During the three-month and six-month periods ended September 27, 2025, the Company recognized $0.7 million and $1.3 million, respectively, of income within restructuring and other charges, net in the consolidated statements of operations related to cash consideration received from Regent, L.P. in connection with the Company's previously sold Club Monaco business. Refer to Note 9 of the Fiscal 2025 10-K for additional discussion regarding the Company's sale of its former Club Monaco business. On a comparative basis, during the three-month and six-month periods ended September 28, 2024, the Company recognized $0.4 million and $1.4 million, respectively, of income within restructuring and other charges, net in the consolidated statements of operations related to consideration received from Regent, L.P. in connection with the Company's previously sold Club Monaco business. As of September 27, 2025 and March 29, 2025, the remaining liability related to the Company's restructuring plans initiated prior to its Fiscal 2025 was $4.2 million and $8.4 million, respectively, reflecting cash payments of $4.4 million and non-cash adjustments of $0.2 million made during the six months ended September 27, 2025. Other Charges Next Generation Transformation Project The Company is in the early stages of executing a large-scale, multi-year global project that is expected to significantly transform the way in which the Company operates its business and further enable its long-term strategic pivot towards a global direct-to-consumer-oriented model (the "Next Generation Transformation project" or "NGT project"). The NGT project will be completed in phases and involves the redesigning of certain end-to-end processes and the implementation of a suite of technology systems on a global scale. Such efforts are expected to result in significant process improvements and the creation of synergies across core areas of operations, including merchandise buying and planning, procurement, inventory management, retail and wholesale operations, and financial planning and reporting, better enabling the Company to optimize inventory levels and increase the speed with which it reacts to changes in consumer demand across markets, among other benefits. In connection with the preliminary phase of the NGT project, the Company recorded other charges of $25.7 million and $36.7 million during the three-month and six-month periods ended September 27, 2025, respectively, and $5.7 million and $8.0 million, during the three-month and six-month periods ended September 28, 2024, respectively. Previously Exited Real Estate The Company recorded other charges of $2.8 million and $5.3 million during the three-month and six-month periods ended September 27, 2025, respectively, and $4.1 million and $6.9 million during the three-month and six-month periods ended September 28, 2024, respectively, primarily related to rent and occupancy costs associated with certain previously exited real estate locations in connection with the Company's past restructuring activities for which the related lease agreements have not yet expired.

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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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