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Subsequent Events
9 Months Ended
Jan. 25, 2014
Subsequent Events

(20) Subsequent Events

On February 3, 2014, the Board of Directors of the Company approved a specific component of a plan to rationalize its NOOK business. This action included a workforce reduction reflecting a shift in strategy to reposition NOOK’s platform to hardware and content distribution partnerships, thereby reducing the hardware related burden.

This workforce reduction resulted in the elimination of approximately 75 positions. Charges associated with this reduction in force were approximately $2,357, which includes benefits and severance arrangements, which will be recorded in the fourth quarter of fiscal 2014. As the Company further refines its strategy, it could incur additional rationalization charges including occupancy, asset impairments, severance and other overhead related charges. The Company currently estimates that these future net charges could be as high as approximately $40,000. Substantially all of such estimated future charges are related to the potential consolidation and or relocation of the NOOK offices, and associated charges, that may occur to improve cost efficiency, while better serving NOOK employees.