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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jul. 02, 2023
Jul. 03, 2022
Jun. 27, 2021
Operating activities:      
Net income (loss) $ (44,702) $ 29,610 $ 118,652
Reconciliation of net income (loss) to net cash provided by operating activities net of acquisitions:      
Goodwill and intangible asset impairment 64,586 0 0
Depreciation and amortization 53,673 49,078 42,510
Amortization of deferred financing costs 1,834 1,269 1,143
Deferred income taxes (4,608) 1,579 5,530
Bad debt expense (recoveries) 3,991 (411) 964
Stock-based compensation 8,334 7,947 10,835
Other non-cash items 95 3,194 645
Changes in operating items:      
Trade receivables (597) (2,452) (5,236)
Inventories 57,591 (85,047) (39,104)
Prepaid and other 12,554 6,731 (22,850)
Accounts payable and accrued expenses (38,623) (6,595) 57,397
Other assets and other liabilities 1,223 286 2,804
Net cash provided by operating activities 115,351 5,189 173,290
Investing activities:      
Acquisitions, net of cash acquired (6,151) (21,280) (250,942)
Capital expenditures, net of non-cash expenditures (44,646) (66,408) (55,219)
Purchase of equity investments (32) (2,000) (1,756)
Net cash used in investing activities (50,829) (89,688) (307,917)
Financing activities:      
Acquisition of treasury stock (1,239) (38,171) (22,369)
Proceeds from exercise of employee stock options 0 846 2,253
Proceeds from bank borrowings 395,900 125,000 265,000
Repayment of notes payable and bank borrowings (360,900) (145,000) (174,997)
Debt issuance costs (2,941) (284) (2,193)
Net cash provided by (used in) financing activities 30,820 (57,609) 67,694
Net change in cash and cash equivalents 95,342 (142,108) (66,933)
Cash and cash equivalents:      
Beginning of year 31,465 173,573 240,506
End of year $ 126,807 $ 31,465 $ 173,573