Revenue (Notes)

6 Months Ended

Oct. 28, 2023

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

Note 3. Revenue

Revenue from sales of our products and services is recognized either at the point in time when control of the products is transferred to our customers or over time as services are provided in an amount that reflects the consideration we expect to be entitled to in exchange for the products or services. See Note 2. Summary of Significant Accounting Policies for additional information related to our revenue recognition policies and Note 4. Segment Reporting for a description of each segment's product and service offerings.

Disaggregation of Revenue

The following table disaggregates the revenue associated with our major product and service offerings:

	13 weeks ended				26 weeks ended
	October 28, 2023		October 29, 2022		October 28, 2023		October 29, 2022
Retail
Course Materials Product Sales	$	435,370	$	416,410	$	573,906	$	547,262
General Merchandise Product Sales (a)	105,022		122,648		193,702		211,472
Service and Other Revenue (b)	18,263		18,218		24,996		24,137
Retail Product and Other Sales sub-total	558,655		557,276		792,604		782,871
Course Materials Rental Income	40,681		41,334		52,192		52,246
Retail Total Sales	$	599,336	$	598,610	$	844,796	$	835,117
Wholesale Sales	$	20,973	$	21,120	$	59,764	$	58,203
Eliminations (c)	$	(9,930)	$	(11,097)	$	(30,020)	$	(30,013)
Total Sales	$	610,379	$	608,633	$	874,540	$	863,307

(a)Logo general merchandise sales for the Retail Segment are recognized on a net basis as commission revenue in the condensed consolidated financial statements.

(b)Service and other revenue primarily relates to brand partnership marketing and other service revenues.

(c)The sales eliminations represent the elimination of Wholesale sales and fulfillment service fees to Retail and the elimination of Retail commissions earned from Wholesale.

Contract Liabilities

Contract liabilities represent an obligation to transfer goods or services to a customer for which we have received consideration and consists of our deferred revenue liability (deferred revenue). Deferred revenue consists of the following:

•advanced payments from customers related to textbook rental performance obligations, which are recognized ratably over the terms of the related rental period;

•unsatisfied performance obligations associated with brand partnership marketing services, which are recognized when the contracted services are provided to our brand partnership marketing customers; and

•unsatisfied performance obligations associated with the premium paid for the sale of treasury shares, which are expected to be recognized over the term of the e-commerce and merchandising contracts for Fanatics and Lids, respectively.

The following table presents changes in deferred revenue associated with our contract liabilities:

	26 weeks ended
	October 28, 2023		October 29, 2022
Deferred revenue at the beginning of period	$	15,356	$	16,475
Additions to deferred revenue during the period	97,773		96,121
Reductions to deferred revenue for revenue recognized during the period	(71,164)		(68,676)
Deferred revenue balance at the end of period:	$	41,965	$	43,920
Balance Sheet classification:
Accrued liabilities	$	38,105	$	39,504
Other long-term liabilities	3,860		4,416
Deferred revenue balance at the end of period:	$	41,965	$	43,920

As of October 28, 2023, we expect to recognize $38,105 of the deferred revenue balance within the next 12 months.