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Assets Held for Sale
9 Months Ended
Nov. 02, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Assets Held for Sale

13. Assets Held for Sale

During the third quarter of Fiscal 2024, the Company entered into an agreement to sell its Hong Kong retail operations to a third party buyer. This decision supports the strategies outlined in our Powering Profitable Growth plan. This transaction closed in the fourth quarter of Fiscal 2024. Remeasuring the assets and liabilities of our Hong Kong retail operations asset group at fair value less cost to sell resulted in an impairment charge of $6.4 million, recorded in impairment, restructuring, and other charges on the Consolidated Statement of Operations during the 13 weeks ended November 2, 2024. As of November 2, 2024, the Company had $19.0 million of assets held for sale recorded in other current assets, and $15.2 of liabilities held for sale recorded in other current liabilities and accrued expenses on its Consolidated Balance Sheet related to this transaction.