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Impairment, Restructuring and Other Charges (Tables) | 3 Months Ended
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May 03, 2025
Restructuring and Related Activities [Abstract] |
Schedule of Impairment, Restructuring and Other Charges | The following table represents impairment and restructuring charges. All amounts were recorded within impairment and restructuring on the Consolidated Statements of Operations during the 13 weeks ended May 3, 2025. There were no impairment and restructuring charges recorded for the 13 weeks ended May 4, 2024.
|  | 13 Weeks Ended |  |
|  | May 3, |  |
(In thousands) |  | 2025 |  |
Long-lived asset impairment charges (1) |  | $ | 15,274 |  |
Employee severance (2) |  |  | 1,845 |  |
Total impairment and restructuring charges |  | $ | 17,119 |  |
The following footnotes relate to impairment and restructuring charges recorded in the 13 weeks ended May 3, 2025: (1) The Company recorded $15.3 million of asset impairment charges primarily related to closing two fulfillment centers as part of its supply chain network optimization project. Of this amount, $10.4 million of charges relate to ROU assets and $4.9 million relates to property and equipment. (2) The Company recorded $1.8 million of employee severance, primarily related to closing two fulfillment centers.
Rollforward of Restructuring Liabilities Recognized in Consolidated Balance Sheet | A rollforward of the restructuring liabilities recognized in the Consolidated Balance Sheet is as follows:
|  | 13 Weeks Ended |  |
|  | May 3, |  |
(In thousands) |  | 2025 |  |
Accrued liability as of February 1, 2025 |  | $ | 7,650 |  |
Add: Costs incurred, excluding non-cash charges |  | $ | 1,845 |  |
Less: Cash payments and adjustments |  |  | (3,968 | ) |
Accrued liability as of May 3, 2025 |  | $ | 5,527 |  |

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