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RESTRUCTURING (Tables) | 3 Months Ended
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Mar. 29, 2025
Restructuring and Related Activities [Abstract] |
Components of Restructuring Charges | Restructuring charges relate to costs associated with exit or disposal activities. During the three months ended March 2025 and March 2024, the Company incurred the following charges related to business optimization and actions to streamline and transfer select production within our internal manufacturing network:
|  | Three Months Ended March |  |  |
(In thousands) |  |  |  |  |  |  |  |  |  |  |
| 2025 |  |  | 2024 |  |  |  |  |  |
Severance and employee-related benefits |  | $ | 2,479 |  |  |  | $ | 1,981 |  |  |  |  |  |  |
Asset impairments |  | — |  |  |  | 168 |  |  |  |  |  |  |
Inventory write-downs |  | — |  |  |  | 1,683 |  |  |  |  |  |  |
Other |  | 843 |  |  |  | 779 |  |  |  |  |  |  |
Total restructuring charges |  | $ | 3,322 |  |  |  | $ | 4,611 |  |  |  |  |  |  |
The following table presents the classification of these restructuring costs in the Company's statements of operations:
|  | Three Months Ended March
(In thousands) |  | 2025 |  |  | 2024
Cost of goods sold |  | $ | 1,077 |  |  |  | $ | 3,039 |
Selling, general, and administrative expenses |  | 2,245 |  |  |  | 1,572 |
Total |  | $ | 3,322 |  |  |  | $ | 4,611 |
The following table presents these restructuring costs by business segment:
|  | Three Months Ended March |  |  |
(In thousands) |  |  |  |  |  |  |  |  |  |  |
| 2025 |  |  | 2024 |  |  |  |  |  |
Wrangler |  | $ | 938 |  |  |  | $ | 3,249 |  |  |  |  |  |  |
Lee |  | — |  |  |  | 40 |  |  |  |  |  |  |
Corporate and other |  | 2,384 |  |  |  | 1,322 |  |  |  |  |  |  |
Total |  | $ | 3,322 |  |  |  | $ | 4,611 |  |  |  |  |  |  |
Activity in Restructuring | The following table presents activity in the restructuring accrual for the three-month period ended March 2025:
(In thousands) |  |  |  |  |  |  |
Accrual at December 2024 | $ | 1,895 |  |  |  |  |  |  |
Charges | 2,926 |  |  |  |  |  |  |
Cash payments | (1,820) |  |  |  |  |  |  |
Balance, March 2025 | $ | 3,001 |  |  |  |  |  |  |

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- Definition Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 5.P.3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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- Definition Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.b.2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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