Annual report pursuant to Section 13 and 15(d)

Note 10 - Restructuring and Other Impairment Activities (Details Textual)

v3.21.2
Note 10 - Restructuring and Other Impairment Activities (Details Textual) - USD ($)
$ in Thousands
1 Months Ended 3 Months Ended 12 Months Ended
Sep. 30, 2019
Sep. 30, 2019
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2019
Asset Impairment Charges, Total     $ 600    
Gain (Loss) on Disposition of Property Plant Equipment, Total     (38) $ (199) $ (157)
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal [1]     (473) (11,497)  
Inventory Write-down [2],[3]     585 4,107  
Inventory Write-down, Slow Moving Finished Goods [Member]          
Inventory Write-down     400 4,100  
Inventory Write-down, Raw Materials Disposed of [Member]          
Inventory Write-down     200    
Optimization of Manufacturing and Logistics [Member]          
Restructuring Charges, Total     400 2,100  
Retail Segment [Member]          
Asset Impairment Charges, Total     600 5,200 $ 9,900
Lease Exit Costs [Member]          
Restructuring Charges, Total [4]     1,537 2,489  
Lease Exit Costs [Member] | Retail Segment [Member]          
Restructuring Charges, Total     600    
Facility Closing, Atoka Distribution Center [Member]          
Restructuring Charges, Total     400    
Restructuring Reserve, Current     200    
Facility Closing, Atoka Distribution Center [Member] | Restructuring and Other Impairment Charges, Net of Gains [Member]          
Restructuring Charges, Total     300    
Facility Closing, Atoka Distribution Center [Member] | Cost of Sales [Member]          
Restructuring Charges, Total     100    
Inventory Write-downs and Manufacturing Overhead Costs [Member]          
Restructuring Charges, Total       1,300  
Inventory Write-downs and Manufacturing Overhead Costs [Member] | Restructuring and Other Impairment Charges, Net of Gains [Member]          
Restructuring Charges, Total       800  
Inventory Write-downs and Manufacturing Overhead Costs [Member] | Cost of Sales [Member]          
Restructuring Charges, Total       1,300  
Employee Severance and Other Payroll and Benefit Costs [Member]          
Restructuring Charges, Total       800  
Other Exit and Relocation Costs [Member]          
Restructuring Charges, Total       700  
Facility Closing, Old Fort [Member]          
Gain (Loss) on Disposition of Property Plant Equipment, Total       $ 700  
Facility Closing [Member]          
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal     $ 500    
Facility Closing, Passaic [Member]          
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal   $ 11,500      
Proceeds from Divestiture of Businesses, Net of Cash Divested, Total $ 12,400        
Payments for Divestiture Selling and Closing Costs $ 900        
[1] During fiscal 2021 we completed the sale of two retail properties to independent third parties. As a result of these sales, the Company recognized a pre-tax gain of $0.5 million. We also completed the sale of a wholesale property in September 2019 to an independent third party and received $12.4 million in cash less certain adjustments, including $0.9 million in selling and other closing costs. As a result of the sale, we recognized a pre-tax gain of $11.5 million in fiscal 2020.
[2] Certain optimization of manufacturing and logistics costs, such as manufacturing variances and inventory write-downs, are reported within Cost of Sales in the consolidated statements of comprehensive income.
[3] We recorded a non-cash charge of $0.6 million during fiscal 2021 related to the write-down and disposal of certain slow moving and discontinued inventory items, which was due to actual demand and forecasted market conditions for these inventory items being less favorable than originally estimated. Of the total inventory write-down, $0.4 million related to slow moving finished goods with the remaining $0.2 million consisting of raw materials that were disposed of. In fiscal 2020, we recorded a non-cash charge of $4.1 million to write-down and dispose of certain slow moving and discontinued inventory items. These non-cash inventory write-downs were recorded in the consolidated statement of comprehensive income within the line item Cost of Sales.
[4] We recorded restructuring charges of $1.5 million during fiscal 2021 related to lease exit costs within the retail segment as a result of an early termination of a lease, the closing and subsequent exiting of a retail design center and the payment to assign a lease to an independent third-party. During fiscal 2020 we recorded $2.5 million of restructuring charges related to the remaining contractual obligations under leased retail space that we exited during the year.