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Impairment, Restructuring and COVID-19 Related Charges (Tables)

6 Months Ended

Jul. 31, 2021

Restructuring And Related Activities [Abstract]

Summary of Impairment, Restructuring and COVID-19 Related Charges

The following table represents impairment, restructuring and COVID-19 related charges for the 13 and 26 weeks ended August 1, 2020.  There were no impairment, restructuring and COVID-19 related charges for the 13 and 26 weeks ended July 31, 2021.  All amounts were recorded within impairment, restructuring and COVID-19 related charges on the Consolidated Statements of Operations.

		13 Weeks Ended				26 Weeks Ended
		August 1,				August 1,
(In thousands)		2020				2020
Impairment charges (1)		$	—			$	153,617
Incremental COVID-19 related expenses (2)			13,885				13,885
Severance and related employee costs			726				2,729
Total impairment, restructuring and COVID-19 related charges		$	14,611			$	170,231

(1)  During the 26 weeks ended August 1, 2020, the Company recorded asset impairment charges of $153.6 million.  Included in this amount are retail store impairment charges of $109.6 million, of which $84.1 million relates to operating lease ROU assets and $25.5 million relates to store property and equipment (fixtures and equipment and leasehold improvements).  We also recorded $26.0 million of impairment related charges to certain corporate property and equipment as well as $18.0 million of impairment charges related to certain cost and equity method investments.    

(2)   Incremental COVID-19 related expenses consist of personal protective equipment and supplies for our associates and customers.      

Rollforward of Restructuring Liabilities Recognized in Accrued Compensation and Payroll Taxes and Other Current Liabilities and Accrued Expenses in Consolidated Balance Sheet

A roll-forward of restructuring liabilities recognized in accrued compensation and payroll taxes and other current liabilities and accrued expenses in the Consolidated Balance Sheet is as follows:

		26 Weeks Ended
		July 31,
(In thousands)		2021
Restructuring liability as of January 30, 2021		$	2,812
Add: Costs incurred, excluding non-cash charges			—
Less: Cash payments and adjustments			(1,857	)
Restructuring liability as of July 31, 2021		$	955

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Tabular disclosure of the components of accrued liabilities.

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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.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
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