Note 17. Selected Quarterly Financial Information (Unaudited)

A summary of quarterly financial information for Fiscal 2018 and Fiscal 2017 is as follows:



Fiscal 2018 Quarterly Period Ended	July 29, 2017			October 28, 2017 ^(a)		January 27, 2018 ^(b)			April 28, 2018 ^(b)		Fiscal Year 2018
Sales	$	355,711		$	886,861	$	603,391		$	357,654	$	2,203,617
Gross profit	$	65,200		$	216,700	$	146,999		$	128,334	$	557,233
Net (loss) income	$	(34,783	)	$	48,395	$	(283,235	)	$	17,057	$	(252,566	)
Basic (loss) earnings per common share:
Net (loss) income	$	(0.75	)	$	1.04	$	(6.04	)	$	0.36	$	(5.40	)
Diluted (loss) earnings per common share:
Net (loss) income	$	(0.75	)	$	1.03	$	(6.04	)	$	0.36	$	(5.40	)



Fiscal 2017 Quarterly Period Ended	July 30, 2016			October 29, 2016		January 28, 2017		April 29, 2017 ^(c)		Fiscal Year 2017
Sales	$	239,237		$	770,671	$	521,624	$	342,830	$	1,874,362
Gross profit	$	47,833		$	171,954	$	116,249	$	123,025	$	459,061
Net (loss) income	$	(27,916	)	$	29,289	$	3,761	$	227	$	5,361
Basic (loss) earnings per common share:
Net (loss) income	$	(0.60	)	$	0.63	$	0.08	$	—	$	0.12
Diluted (loss) earnings per common share:
Net (loss) income	$	(0.60	)	$	0.63	$	0.08	$	—	$	0.11


(a)	We acquired Student Brands, LLC on August 3, 2017. The consolidated financial statements for the 52 weeks ended April 28, 2018 include the financial results of Student Brands from the acquisition date, August 3, 2017, to April 28, 2018.

(b)

The net (loss) income for the 13 weeks ended April 28, 2018 reflects a 14,100 income tax benefit that should have been recorded during the 13 weeks ended January 27, 2018 in connection with the tax deductible portion of the $313,130 goodwill impairment. This amount is deemed an immaterial error correction as it relates to our interim condensed consolidated financial statements and amounts recorded as of and for the 52 weeks ended April 28, 2018 appropriately reflect this item.


(c)	We acquired MBS Textbook Exchange, LLC on February 27, 2017. The consolidated financial statements for the 52 weeks ended April 29, 2017 include the financial results of MBS from the acquisition date, February 27, 2017, to April 29, 2017.