RESTRUCTURING

12 Months Ended

Aug. 02, 2025

Restructuring and Related Activities [Abstract]

RESTRUCTURING

14. RESTRUCTURING

In June 2022, we announced a restructuring plan (the “2022 Restructuring Plan”) to reduce our future fixed and variable operating costs and allow us to centralize key capabilities, strengthen decision-making to drive efficiencies, and ensure we are allocating resources to our most critical priorities. In fiscal 2022 and 2023, in furtherance of and as an expansion of the 2022 Restructuring Plan, we reduced our employee workforce, impaired a portion of our corporate office space, and announced intended closures of certain fulfillment centers. In fiscal 2024, in furtherance of and as an expansion of the 2022 Restructuring Plan, we closed certain fulfillment centers, implemented an organizational realignment which eliminated certain styling leadership and corporate positions, revised our compensation model for Stylists, and impaired a portion of our corporate office space in the fourth quarter of fiscal

2024 due to change in the use of the space. In fiscal 2025, in furtherance of and as an expansion of the 2022 Restructuring Plan, we continued to implement an organizational realignment by eliminating certain corporate positions.

The components of total restructuring charges were as follows:

	For the Fiscal Year Ended
(in thousands)	August 2, 2025		August 3, 2024		July 29, 2023
Cash restructuring charges:
Severance and employee-related benefits (1)	$	1,163	$	10,065	$	18,142
Lease terminations (1)	—		1,466		—
Other (1)	58		3,090		722
Non-cash restructuring charges:
Asset impairments (1) (2)	—		19,283		16,874
Accelerated depreciation (1)	—		9,021		2,805
Other (1)	—		913		1,364
Total restructuring (1)	$	1,221	$	43,838	$	39,907

(1) Recorded in selling, general, and administrative expenses.

(2) Includes impairments of both operating lease right-of-use assets and property and equipment.

The following table provides the changes in the Company’s restructuring related liabilities, which are included within accounts payable and accrued liabilities on the consolidated balance sheets:

(in thousands)	Severance and Employee Related Benefits and Other
Balance at July 29, 2023	$	1,923
Charges incurred	14,621
Cash payments	(13,284)
Balance at August 3, 2024	$	3,260
Charges incurred	1,221
Cash payments	(4,481)
Balance at August 2, 2025	$	—

As of August 2, 2025, we do not expect any additional cash restructuring charges related to the 2022 Restructuring Plan.