Note 15 - Other Gains and Losses

12 Months Ended

Nov. 25, 2017

Notes to Financial Statements

Investment [Text Block]

1

5.

Other Gains and Losses

Gain on Sale of Retail Store Location

Selling, general and administrative expenses for

the year ended

November 25, 2017

includes a gain of

$1,220

resulting from the sale of our retail store location in Las Vegas, Nevada for

$4,335

in cash. The store was closed in

August

of

2017

in preparation for its repositioning to a new location in the Las Vegas market.

Income from Antitrust Litigation Settlement

Cost of furniture and accessories sold for the

year ended

November 26, 2016

includes the benefit of

$1,428

of income we received from the settlement of class action litigation. This benefit is included in our wholesale segment. We were a member of the certified class of consumers that were plaintiffs in the Polyurethane Foam Antitrust Litigation against various producers of flexible polyurethane foam. The litigation alleged a price-fixing conspiracy in the flexible polyurethane foam industry that caused indirect purchasers to pay higher prices for products that contain flexible polyurethane foam. In

2015

a settlement was reached with several of the producers, though other producers named in the suit filed appeals blocking distribution of the settlement. In

June

of

2016

the final producer appeal was dismissed and we received

$1,428

in cash representing our share of the settlement, which is included in cash provided by operating activities in our statement of cash flows for the year ended

November 26, 2016.

Asset Impairment Charges and Lease Exit Costs

During fiscal

2015

income from operations included

$106

of non-cash asset impairment charges and a

$419

charge for the accrual of lease exit costs, both incurred in connection with the closing of our Company-owned retail store location in Memphis, Tennessee.

There were

no

asset impairment

charges or lease exit costs incurred against income from operations during fiscal

2017

or

2016.

See Note

2

regarding non-operating impairment charges incurred in connection with our investments in retail real estate.

Management Restructuring Costs

During the

year ended

November 28, 2015,

we recognized

$449

of expense related to severance payable to a former executive, who left the Company in

April, 2015.

As of

November 28, 2015,

all required payments of severance had been disbursed. These management restructuring costs were incurred within our wholesale segment. There were

no

restructuring charges incurred in fiscal

2017

or

2016.