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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jul. 03, 2022
Jun. 27, 2021
Jun. 28, 2020
Operating activities:      
Net income $ 29,610 $ 118,652 $ 58,998
Reconciliation of net income to net cash provided by operating activities net of acquisitions:      
Depreciation and amortization 49,078 42,510 32,513
Amortization of deferred financing costs 1,269 1,143 646
Deferred income taxes 1,579 5,530 (266)
Bad debt expense (recoveries) (411) 964 4,143
Stock-based compensation 7,947 10,835 8,434
Other non-cash items 3,194 645 1,032
Changes in operating items:      
Trade receivables (2,452) (5,236) (6,947)
Inventories (85,047) (39,104) (4,371)
Prepaid and other 6,731 (22,850) (726)
Accounts payable and accrued expenses (6,595) 57,397 44,359
Other assets and other liabilities 286 2,804 1,602
Net cash provided by operating activities 5,189 173,290 139,417
Investing activities:      
Acquisitions, net of cash acquired (21,280) (250,942) (20,500)
Capital expenditures, net of non-cash expenditures (66,408) (55,219) (34,703)
Purchase of equity investments (2,000) (1,756) (1,176)
Net cash used in investing activities (89,688) (307,917) (56,379)
Financing activities:      
Acquisition of treasury stock (38,171) (22,369) (10,680)
Proceeds from exercise of employee stock options 846 2,253 285
Proceeds from bank borrowings 125,000 265,000 20,000
Repayment of notes payable and bank borrowings (145,000) (174,997) (25,000)
Debt issuance costs (284) (2,193) (60)
Net cash provided by (used in) financing activities (57,609) 67,694 (15,455)
Net change in cash and cash equivalents (142,108) (66,933) 67,583
Cash and cash equivalents:      
Beginning of year 173,573 240,506 172,923
End of year $ 31,465 $ 173,573 $ 240,506