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EXIT ACTIVITY COSTS (Tables) | 6 Months Ended
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Jul. 31, 2022
Heritage Retail Exit [Member] |
Restructuring Cost and Reserve [Line Items] |
Restructuring and Related Costs | Heritage Brands Retail Exit Costs The Company announced on July 14, 2020 plans to streamline its North American operations to better align its business with the evolving retail landscape, including the exit from its Heritage Brands Retail business, which consisted of 162 directly operated stores in North America and was substantially completed in the second quarter of 2021. In connection with the exit from the Heritage Brands Retail business, the Company recorded pre-tax costs during the thirteen and twenty-six weeks ended August 1, 2021 and recorded total cumulative costs during 2020 and 2021 as shown in the table below. All expected costs related to the exit from the Heritage Brands Retail business were incurred by the end of 2021.
(In millions) | Costs Incurred During the Thirteen Weeks Ended 8/1/21 |  | Costs Incurred During the Twenty-Six Weeks Ended 8/1/21 |  |  |  | Cumulative Costs Incurred
Severance, termination benefits and other employee costs | $ | 5.7 |  |  | $ | 10.8 |  |  |  |  | $ | 25.4 |
Long-lived asset impairments | — |  |  | — |  |  |  |  | 7.2 |
Accelerated amortization of lease assets | 3.0 |  |  | 5.9 |  |  |  |  | 13.1 |
Contract termination and other costs | 4.4 |  |  | 4.4 |  |  |  |  | 4.4 |
Total | $ | 13.1 |  |  | $ | 21.1 |  |  |  |  | $ | 50.1 |
Schedule of Restructuring Reserve by Type of Cost | The liabilities at July 31, 2022 related to these costs were principally recorded in accrued expenses in the Company’s Consolidated Balance Sheet and were as follows:
(In millions) | Liability at 1/30/22 |  | Costs Incurred During the Twenty-Six Weeks Ended 7/31/22 |  | Costs Paid During the Twenty-Six Weeks Ended 7/31/22 |  | Liability at 7/31/22
Severance, termination benefits and other employee costs | $ | 3.5 |  |  | $ | — |  |  | $ | 3.1 |  |  | $ | 0.4 |
Contract termination and other costs | 2.4 |  |  | — |  |  | 2.4 |  |  | — |
Total | $ | 5.9 |  |  | $ | — |  |  | $ | 5.5 |  |  | $ | 0.4 |
Reduction in Workforce and Real Estate Footprint |
Restructuring Cost and Reserve [Line Items] |
Restructuring and Related Costs | The Company announced in March 2021 plans to streamline its organization through reductions in its workforce, primarily in certain international markets, and to reduce its real estate footprint, including reductions in office space and select store closures, which resulted in annual cost savings of approximately $60 million. In connection with these activities, the Company recorded pre-tax costs during 2021 as shown in the following table. All expected costs related to the 2021 reductions in workforce and real estate footprint were incurred during 2021.
(In millions) | Costs Incurred During the Thirteen Weeks Ended 8/1/21 |  | Costs Incurred During the Twenty-Six Weeks Ended 8/1/21 |  | Cumulative Costs Incurred |  |  |  |  |  |
Severance, termination benefits and other employee costs | $ | 1.0 |  |  | $ | 13.2 |  |  | $ | 15.7 |  |  |  |  |  |  |
Long-lived asset impairments | — |  |  | 28.1 |  |  | 28.1 |  |  |  |  |  |  |
Contract termination and other costs | 0.8 |  |  | 3.8 |  |  | 3.8 |  |  |  |  |  |  |
Total | $ | 1.8 |  |  | $ | 45.1 |  |  | $ | 47.6 |  |  |  |  |  |  |
Schedule of Restructuring Reserve by Type of Cost | Of the charges incurred during the twenty-six weeks ended August 1, 2021, $1.7 million relate to SG&A expenses of the Tommy Hilfiger North America segment, $7.1 million relate to SG&A expenses of the Tommy Hilfiger International segment, $2.1 million relate to SG&A expenses of the Calvin Klein North America segment, $5.7 million relate to SG&A expenses of the Calvin Klein International segment and $28.5 million relate to corporate SG&A expenses not allocated to any reportable segment. Please see Note 19, “Segment Data,” for further discussion of the Company’s reportable segments. Please see Note 12, “Fair Value Measurements,” for further discussion of the long-lived asset impairments recorded during the twenty-six weeks ended August 1, 2021. The liabilities at July 31, 2022 related to these costs were principally recorded in accrued expenses in the Company’s Consolidated Balance Sheet and were as follows:
(In millions) | Liability at 1/30/22 |  | Costs Incurred During the Twenty-Six Weeks Ended 7/31/22 |  | Costs Paid During the Twenty-Six Weeks Ended 7/31/22 |  | Liability at 7/31/22
Severance, termination benefits and other employee costs | $ | 6.2 |  |  | $ | — |  |  | $ | 2.2 |  |  | $ | 4.0 |
Russia Business Exit |
Restructuring Cost and Reserve [Line Items] |
Restructuring and Related Costs | Russia Business Exit Costs As a result of the war in Ukraine, the Company made the decision in the second quarter of 2022 to exit from its Russia business, including the closure of its retail stores in Russia and the cessation of its wholesale operations in Russia and Belarus. In connection with this exit, the Company recorded pre-tax costs during the thirteen and twenty-six weeks ended July 31, 2022 as shown in the following table. All expected costs related to the exit from the Russia business were incurred during the thirteen and twenty-six weeks ended July 31, 2022.
(In millions) | Costs Incurred During the Thirteen and Twenty-Six Weeks Ended 7/31/22 |  |  |  |  |  |  |  |  |  |
Severance, termination benefits and other employee costs | $ | 2.1 |  |  |  |  |  |  |  |  |  |  |
Long-lived asset impairments | 43.6 |  |  |  |  |  |  |  |  |  |  |
Contract termination and other costs | 4.8 |  |  |  |  |  |  |  |  |  |  |
Total | $ | 50.5 |  |  |  |  |  |  |  |  |  |  |
Of the charges incurred during the thirteen and twenty-six weeks ended July 31, 2022, $36.7 million relate to SG&A expenses of the Tommy Hilfiger International segment and $13.8 million relate to SG&A expenses of the Calvin Klein International segment. Please see Note 19, “Segment Data,” for further discussion of the Company’s reportable segments.
Schedule of Restructuring Reserve by Type of Cost | The liabilities at July 31, 2022 related to these costs were principally recorded in accrued expenses in the Company’s Consolidated Balance Sheet and were as follows:
(In millions) | Liability at 1/30/22 |  | Costs Incurred During the Twenty-Six Weeks Ended 7/31/22 |  | Costs Paid During the Twenty-Six Weeks Ended 7/31/22 |  | Liability at 7/31/22
Severance, termination benefits and other employee costs | $ | — |  |  | $ | 2.1 |  |  | $ | — |  |  | $ | 2.1 |
Contract termination and other costs | — |  |  | 4.8 |  |  | — |  |  | 4.8 |
Total | $ | — |  |  | $ | 6.9 |  |  | $ | — |  |  | $ | 6.9 |

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