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AEO > SEC Filings for AEO > Form 8-K on 9-Sep-2013All Recent SEC Filings




Costs Associated with Exit or Disposal Activities

ITEM 2.05. Costs Associated with Exit or Disposal Activities
On September 5, 2013, the Company announced its plans to close its Warrendale, PA distribution center and transfer the operations to its new Hazelton, PA facility, as the Warrendale facility is not physically or geographically capable of supporting the Company's long-term expansion goals. The Hazelton facility is under construction and is expected to open in the second quarter of fiscal 2014. It will initially supplement our Ottawa, KS facility in fulfilling internet orders. The transition of store distribution operations from Warrendale to Hazelton is scheduled to begin in early 2015 and is anticipated to be completed by July 2015. In connection with the decision, the Company expects to incur after-tax charges of $13 million to $15 million, which will primarily be incurred in the third quarter of fiscal 2013. These charges are comprised of the following after-tax amounts:
$2 million to $3 million of severance and employee related costs
$11 million to $12 million of non-cash asset impairment charges The pre-tax cash outflow for severance and employee related costs are estimated to be $4 million to $5 million to be paid in fiscal 2015.

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