RESTRUCTURING (Tables)

12 Months Ended

Feb. 01, 2025

Restructuring and Related Activities [Abstract]

As a result of the strategic actions associated with the voluntary early termination and subsequent renewal of the Company’s corporate office lease, the move of its distribution center operations from Toronto, Canada (“TODC”) to Alabama in the United States, and workforce reductions, the Company incurred $2.5 million and $11.8 million in restructuring costs during Fiscal 2024 and Fiscal 2023, respectively, on a pretax basis, summarized in the following table:


	Fiscal Years Ended
	February 1, 2025		February 3, 2024
	(in thousands)
Employee-related costs	$	—	$	7,382
Lease termination costs (1)	701		4,158
TODC costs (2)	1,848		—
Professional fees	—		268
Total restructuring costs (3)	$	2,549	$	11,808

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(1)Includes non-cash charges related to accelerated depreciation on certain assets in the corporate office over the reduced term, amounting to $0.7 million and $1.8 million during Fiscal 2024 and Fiscal 2023, respectively.

(2)Includes non-cash charges related to accelerated depreciation on TODC assets, amounting to $1.1 million during Fiscal 2024.

(3)Restructuring costs are recorded within Selling, general and administrative expenses, except accelerated depreciation charges noted above, which are recorded within Depreciation and amortization. TODC costs are recorded within The Children’s Place International segment. The remaining restructuring costs are primarily recorded within The Children’s Place U.S. segment.

Schedule of Restructuring Reserve by Type of Cost

The following tables summarize the restructuring costs that have been settled with cash payments. There was no remaining liability as of February 1, 2025.


	Employee-Related Costs		Lease Termination Costs		TODC Costs		Professional Fees		Total
	(in thousands)
Balance at January 28, 2023	$	—	$	—	$	—	$	—	$	—
Provision	7,382		4,040		—		268		11,690
Cash Payments	(5,716)		(4,040)		—		(268)		(10,024)
Balance at February 3, 2024	1,666		—		—		—		1,666
Provision	(248)		—		432		—		184
Cash Payments	(1,418)		—		(432)		—		(1,850)
Balance at February 1, 2025	$	—	$	—	$	—	$	—	$	—