For the three and six months ended May 31, 2026, the Company recognized restructuring charges of $13.5 million and $21.4 million, respectively, primarily in connection with the Company’s focus on cost reduction initiatives, expansion of our global shared services model including building global talent hubs around the world, and distribution strategy to evaluate the mix of owned and third party operated distribution centers. Restructuring charges consist primarily of severance and other post-employment benefits, based on separation benefits provided by Company policy or statutory benefit plans. These charges were recorded in “Restructuring charges, net” in the consolidated statements of income. As of May 31, 2026, the restructuring liability was $62.1 million, with $47.3 million and $14.8 million classified as “Other accrued liabilities” and “Other long-term liabilities”, respectively, within the Company’s consolidated balance sheet.

For the three and six months ended June 1, 2025, the Company recognized restructuring charges of $6.8 million and $13.5 million, respectively, in connection with Project Fuel, a multi-year global productivity initiative that was substantially complete as of November 30, 2025, consisting primarily of severance and other post-employment benefits, based on separation benefits provided by Company policy or statutory benefit plans as well as contract termination costs and asset impairments and a gain on the sale of a previously closed distribution center. These charges were recorded in “Restructuring charges, net” in the consolidated statements of income.

The Company also recognized $4.4 million and $7.5 million of restructuring related charges during the three and six months ended June 1, 2025, respectively, consisting primarily of consulting fees which were recorded in “Selling, general and administrative expenses” in the consolidated statements of income.

The following tables summarize the activities associated with restructuring liabilities for the periods presented. "Net Charges (Reversals)" represents the initial charge related to the restructuring activity as well as revisions of estimates related to severance and employee-related benefits and contract termination costs and other, "Payments" consists of cash payments for severance and employee-related benefits and contract termination costs and other, and "Foreign Currency Fluctuations" includes foreign currency fluctuations.


	Three Months Ended May 31, 2026
	Liabilities		Net Charges (Reversals)(1)			Payments		Foreign Currency Fluctuations		Liabilities
	March 1, 2026				May 31, 2026

	(Dollars in millions)
Severance and employee-related benefits	$	53.2	$	9.1		$	(12.2)	$	(0.3)	$	49.8
Contract termination costs and other	13.3		2.2			(0.6)		(2.6)		12.3
Total	$	66.5	$	11.3		$	(12.8)	$	(2.9)	$	62.1

(1)Excludes $0.9 million in stock compensation related charges recorded in Additional paid-in-capital and $1.7 million of asset impairment charges related to decision to discontinue certain technology projects. Includes $0.4 million of Dockers® restructuring costs reported as discontinued operations.


	Six Months Ended May 31, 2026
	Liabilities		Net Charges (Reversals)(1)			Payments		Foreign Currency Fluctuations		Liabilities
	November 30, 2025				May 31, 2026

	(Dollars in millions)
Severance and employee-related benefits	$	53.1	$	25.1		$	(28.3)	$	(0.1)	$	49.8
Contract termination costs and other	16.9		2.4			(4.4)		(2.6)		12.3
Total	$	70.0	$	27.5		$	(32.7)	$	(2.7)	$	62.1

(1) Excludes $1.0 million in stock compensation related charges recorded in Additional paid-in-capital and $1.7 million of asset impairment charges related to decision to discontinue certain technology projects. Includes $8.8 million of Dockers® restructuring costs reported as discontinued operations.


	Three Months Ended June 1, 2025
	Liabilities		Net Charges (Reversals)(1)			Payments		Foreign Currency Fluctuations		Liabilities
	March 2, 2025				June 1, 2025

	(Dollars in millions)
Severance and employee-related benefits	$	63.8	$	7.6		$	(15.6)	$	2.8	$	58.6
Contract termination costs and other	21.8		2.1			(0.1)		4.3		28.1
Total	$	85.6	$	9.7		$	(15.7)	$	7.1	$	86.7

(1)Excludes $0.5 million in stock compensation related charges recorded in Additional paid-in capital and $7.2 million of asset impairment charges associated with the closure of distribution centers, partially offset by a $9.3 million gain on the sale of a previously closed distribution center. Includes $1.4 million of Dockers® restructuring costs reported as discontinued operations.


	Six Months Ended June 1, 2025
	Liabilities		Net Charges (Reversals)(1)			Payments		Foreign Currency Fluctuations		Liabilities
	December 1, 2024				June 1, 2025

	(Dollars in millions)
Severance and employee-related benefits	$	83.7	$	11.6		$	(39.0)	$	2.3	$	58.6
Contract termination costs and other	20.7		3.7			(0.6)		4.3		28.1
Total	$	104.4	$	15.3		$	(39.6)	$	6.6	$	86.7

(1) Excludes $1.3 million in stock compensation related charges recorded in Additional paid-in capital and $9.2 million of asset impairment charges associated with the closures of distribution centers, partially offset by a $9.3 million gain on the sale of a previously closed distribution center. Includes $3.2 million of Dockers® restructuring costs reported as discontinued operations.