Note 23 - Related Party Transactions

6 Months Ended

Dec. 29, 2013

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

23. Related Party Transactions

Related party receivables consist of the following:

	December 29, 2013		June 30, 2013
UNF America	$	40	$	—
Cupron, Inc.		24		6
Dillon Yarn Corporation		3		198
Total related party receivables (included within receivables, net)	$	67	$	204

Related party payables consist of the following:

	December 29, 2013		June 30, 2013
Dillon Yarn Corporation	$	538	$	135
Salem Leasing Corporation		328		267
Cupron, Inc.		261		218
American Drawtech Company, Inc.		—		17
Total related party payables (included within accounts payable)	$	1,127	$	637

Related party transactions consist of the following:

		For the Three Months Ended
Affiliated Entity	Transaction Type	December 29, 2013		December 23, 2012
Dillon Yarn Corporation	Yarn purchases	$	565	$	505
Dillon Yarn Corporation	Sales service agreement costs		—		141
Dillon Yarn Corporation	Sales		380		2
Salem Leasing Corporation	Transportation equipment costs		911		744
American Drawtech Company, Inc.	Sales		—		137
American Drawtech Company, Inc.	Yarn purchases		—		(6	)
Cupron, Inc.	Sales		131		13
Cupron, Inc.	Yarn purchases		8		—

		For the Six Months Ended
Affiliated Entity	Transaction Type	December 29, 2013		December 23, 2012
Dillon Yarn Corporation	Yarn purchases	$	1,452	$	1,269
Dillon Yarn Corporation	Sales service agreement costs		—		267
Dillon Yarn Corporation	Sales		1,235		6
Salem Leasing Corporation	Transportation equipment costs		1,826		1,530
American Drawtech Company, Inc.	Sales		—		234
American Drawtech Company, Inc.	Yarn purchases		—		37
Cupron, Inc.	Sales		157		15
Cupron, Inc.	Yarn purchases		8		—

During the first six months of fiscal year 2014, the Company repurchased 396 shares of its common stock through open market transactions. Since inception of the Company’s $50,000 stock repurchase program, the Company has repurchased 964 shares of its common stock through open market purchases. Invemed Associates LLC (“Invemed”) provided brokerage services to the Company for the repurchase of these shares. The Company paid a commission of $.02 per share to Invemed. Mr. Kenneth G. Langone, a member of the Company’s Board, is the founder and chairman of Invemed.

On November 1, 2013, the Company purchased 150 shares of the Company’s common stock from Dillon, at a negotiated price of $23.00 per share, for $3,450. The purchase price was equal to an approximately 6% discount to the closing price of the common stock on October 31, 2013. Mr. Mitchel Weinberger, a member of the Company’s Board, is Dillon’s president and chief operating officer.

On December 3, 2013, certain of the Company’s executive officers exercised options to purchase shares of the Company’s common stock under option awards previously granted under a prior long-term incentive compensation plan.  Pursuant to authorization from the Company’s Board, and as part of the Company’s previously announced $50,000 stock repurchase program, the Company repurchased 225 shares of common stock issued in those option exercises at a negotiated price of $25.59 per share (which was equal to the average of the closing trade prices of the Company’s common stock for the 30 days ending December 2, 2013 and represents a 7.1% discount to the $27.56 closing price of the common stock on December 2, 2013).              

For a further discussion of the nature of certain related party relationships, see “Note 26. Related Party Transactions” included in the 2013 Form 10-K.