TREASURY STOCK (Notes)

9 Months Ended

Apr. 28, 2018

Equity, Class of Treasury Stock [Line Items]

Treasury Stock [Text Block]

TREASURY STOCK

On October 6, 2017, the Company announced that its Board of Directors authorized a share repurchase program for up to $200.0 million of the Company’s outstanding common stock. The repurchase program is scheduled to expire upon the Company’s repurchase of shares of the Company’s common stock having an aggregate purchase price of $200.0 million. Repurchases will be made in accordance with applicable securities laws from time to time in the open market, through privately negotiated transactions, or otherwise. The Company may also implement all or part of the repurchase program pursuant to a plan or plans meeting the conditions of Rule 10b5-1 under the Securities Exchange Act of 1934, as amended.

Under this program, there were no shares of the Company's common stock purchased by the Company in the third quarter of fiscal 2018 and 564,660 shares of the Company's common stock were purchased at an aggregate cost of $22.2 million in the 39-week period ended April 28, 2018. The Company records the repurchase of shares of common stock at cost based on the settlement date of the transaction. These shares are classified as treasury stock, which is a reduction to stockholders’ equity. Treasury stock is included in authorized and issued shares but excluded from outstanding shares.