Subsequent Events

6 Months Ended

Aug. 03, 2024

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

As previously announced, on August 12, 2024, the Board of Directors of the Company (the “Board”) appointed Hillary Super as Chief Executive Officer (“CEO”) of the Company and as a member of the Board, effective as of September 9, 2024, and terminated Martin Waters as CEO, effective as of August 13, 2024. Mr. Waters resigned from the Board effective as of August 12, 2024 and remained employed by the Company in a non-executive capacity through August 31, 2024. Mr. Waters’ exit from the Company constitutes a termination without Cause; accordingly, Mr. Waters will be entitled to receive the severance benefits provided under his employment agreement, subject to the terms and conditions of that agreement. Timothy Johnson, the Company’s Chief Financial and Administrative Officer, was appointed to serve as Interim CEO of the Company from August 14, 2024 until the commencement of Ms. Super’s employment as CEO.

As previously announced, on September 4, 2024, the Company announced that the roles of Brand President and Chief Customer Officer had been eliminated to streamline the executive leadership team. As a result, Greg Unis departed his position as Brand President of the Company and Christine Rupp departed her position as Chief Customer Officer of the Company, both effective as of September 3, 2024. Mr. Unis’s and Ms. Rupp’s exits from the Company both constitute a termination without Cause; accordingly, they will be entitled to receive the severance benefits provided under their respective severance agreements, subject to the terms and conditions of those agreements.