DISCONTINUED OPERATIONS DISCONTINUED OPERATIONS (Tables)

6 Months Ended

Feb. 01, 2020

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations [Table Text Block]

Operating results of discontinued operations are summarized below:

	13-Week Period Ended					26-Week Period Ended
(In thousands)	February 1, 2020		January 26, 2019			February 1, 2020			January, 26, 2019(1)
Net sales	$	613,705	$	727,037		$	1,224,526		$	773,635
Cost of sales	451,007		533,639			892,078			568,173
Gross profit	162,698		193,398			332,448			205,462
Operating expenses	129,413		156,710			265,848			166,204
Restructuring expenses and charges	30,851		10,382			32,213			10,382
Operating income	2,434		26,306			34,387			28,876
Other income, net	41		(339		)	(1,050		)	(588		)
Income from discontinued operations before income taxes	2,393		26,645			35,437			29,464
Income tax provision	286		5,239			8,376			5,987
Income from discontinued operations, net of tax	$	2,107	$	21,407		$	27,061		$	23,477

(1) These results reflect retail operations from the Supervalu acquisition date of October 22, 2018 to January 26, 2019.

The Company recorded $251.5 million and $265.2 million within Net sales from continuing operations attributable to discontinued operations inter-company product purchases in the second quarters of fiscal 2020 and 2019, respectively, and $496.1 million and $287.0 million in fiscal 2020 and 2019 year-to-date, respectively, which the Company expects will continue subsequent to the sale of certain retail banners. These amounts were recorded at gross margin rates consistent with sales to other similar wholesale customers of the acquired Supervalu business. No sales were recorded within continuing operations for retail banners that the Company expects to dispose of without a supply agreement, which were eliminated upon consolidation within continuing operations and amounted to $96.6 million and $153.6 million in the second quarters of fiscal 2020 and 2019, respectively, and $209.6 million and $163.4 million in fiscal 2020 and 2019 year-to-date, respectively.

The carrying amounts (in thousands) of major classes of assets and liabilities that were classified as held-for-sale on the Condensed Consolidated Balance Sheets follows in the table below.

(In thousands)	February 1, 2020		August 3, 2019
Current assets
Cash and cash equivalents	$	2,264	$	2,917
Receivables, net	17,756		1,471
Inventories	120,231		129,142
Other current assets	5,118		10,199
Total current assets of discontinued operations	145,369		143,729
Long-term assets
Property and equipment	276,132		301,395
Intangible assets	49,687		48,788
Other assets	2,086		1,882
Total long-term assets of discontinued operations	327,905		352,065
Total assets of discontinued operations	$	473,274	$	495,794
Current liabilities
Accounts payable	$	68,024	$	61,634
Accrued compensation and benefits	39,893		45,887
Other current liabilities	14,844		14,744
Total current liabilities of discontinued operations	122,761		122,265
Long-term liabilities
Other long-term liabilities	646		1,923
Total liabilities of discontinued operations	123,407		124,188
Net assets of discontinued operations	$	349,867	$	371,606