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DISCONTINUED OPERATIONS
 6 Months Ended
Jan. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]  
DISCONTINUED OPERATIONS
NOTE 16—DISCONTINUED OPERATIONS

In conjunction with the Supervalu acquisition, the Company announced its plan to sell the remaining acquired retail operations of Supervalu. Since the acquisition, the Company sold Hornbacher’s, and sold and exited the retail operations of certain Shoppers locations, Shop ‘n Save St. Louis and Shop ‘n Save East. As discussed further in Note 1—Significant Accounting Policies, in the fourth quarter of fiscal 2020, the Company determined Retail no longer qualified for held for sale presentation and the results of operations, financial position and cash flows of Retail have been revised in order to present Retail within continuing operations. Subsequent to the presentation changes in the fourth quarter of fiscal 2020, discontinued operations contains the historical results of operations, financial position and cash flows of Hornbacher’s, certain Shoppers locations, Shop ‘n Save St. Louis and Shop ‘n Save East. As of January 30, 2021, only four Shoppers locations are contained in remaining disposal groups that continue to be classified as operations held for sale as discontinued operations.

In the second quarter of fiscal 2020, the Company entered into agreements to sell 13 Shoppers stores and decided to close six locations. During fiscal 2020 year-to-date, within discontinued operations the Company incurred approximately $23.6 million in pre-tax aggregate costs and charges related to Shoppers stores that remain within discontinued operations, consisting of $18.8 million of operating losses, severance costs and transaction costs during the period of wind-down and $5.5 million of property and equipment impairment charges related to impairment reviews.
Operating results of discontinued operations are summarized below:
13-Week Period Ended26-Week Period Ended
(In thousands)January 30, 2021February 1,
2020		January 30, 2021February 1,
2020
Net sales$22,973 $75,076 $47,789 $170,671 
Cost of sales15,748 56,553 32,520 121,639 
Gross profit7,225 18,523 15,269 49,032 
Operating expenses3,528 15,228 9,759 40,304 
Restructuring expenses and charges792 24,009 783 24,184 
Operating income (loss)2,905 (20,714)4,727 (15,456)
Other expense (income), net— (3)— (64)
Income (loss) from discontinued operations before income taxes2,905 (20,711)4,727 (15,392)
Benefit for income taxes(898)(4,635)(372)(3,342)
Income (loss) from discontinued operations, net of tax$3,803 $(16,076)$5,099 $(12,050)
No net sales were recorded within continuing operations for retail stores within discontinued operations that the Company disposed of and expects to dispose of without a supply agreement. These net sales have been eliminated upon consolidation within the Wholesale segment of continuing operations and amounted to $13.4 million and $36.1 million in the second quarters of fiscal 2021 and 2020, respectively, and $27.8 million and $92.1 million in fiscal 2021 and 2020 year-to-date, respectively.

The following table summarizes the carrying amounts of major classes of assets and liabilities that were classified as held-for-sale on the Condensed Consolidated Balance Sheets:
(In thousands)January 30, 2021August 1, 2020
Current assets
Cash and cash equivalents$155 $119 
Accounts receivable, net578 350 
Inventories, net3,329 4,233 
Other current assets654 365 
Total current assets of discontinued operations4,716 5,067 
Long-term assets
Property and equipment927 3,450 
Other long-term assets464 465 
Total long-term assets of discontinued operations1,391 3,915 
Total assets of discontinued operations$6,107 $8,982 
Current liabilities
Accounts payable$3,405 $3,613 
Accrued compensation and benefits2,575 4,501 
Other current liabilities2,333 3,324 
Total current liabilities of discontinued operations8,313 11,438 
Long-term liabilities
Other long-term liabilities15 1,738 
Total liabilities of discontinued operations8,328 13,176 
Net liabilities of discontinued operations$(2,221)$(4,194)