Note 16 - Discontinued Operations

12 Months Ended

Jul. 03, 2016

Notes to Financial Statements

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

Note 16. Discontinued Operations

During the fourth quarter of fiscal 2013, the Company made the strategic decision to divest the e-commerce and procurement businesses of its Winetasting Network subsidiary in order to focus on growth opportunities in its Gourmet Foods and Gift Baskets

business segment. The Company closed on the sale of its e-commerce and procurement businesses on December 31, 2013. The Company had originally estimated a loss of $2.3 million ($1.5 million, net of tax), which was provided for during the fourth quarter of fiscal 2013, but the loss was reduced to $1.0 million, upon finalization of terms and closing on the sale. As a result, the Company reversed $1.3 million ($0.8 million, net of tax) of its accrual for the estimated loss during the fiscal year ended June 29, 2014. The Company has classified the results of the e-commerce and procurement business of The Winetasting Network as a discontinued operation in fiscal 2014

.

Results for discontinued operations are as follows:

			Years Ended
	July 3, 2016		June 28, 2015		June 29, 2014
	(in thousands, except per share data)
Net revenues from discontinued operations	$	-	$	-	$	1,669
Loss from discontinued operations, net of tax	$	-	$	-	$	(86	)
Gain (loss) on sale of discontinued operations, net of tax	$	-	$	-	$	815
Income (loss) from discontinued operations	$	-	$	-	$	729