Employees Benefit Plan

6 Months Ended

Oct. 28, 2023

Employees' Defined Contribution Plan

Note 11. Employee Benefit Plans

We sponsor defined contribution plans for the benefit of substantially all of the employees of BNC. MBS maintains a profit sharing plan covering substantially all full-time employees of MBS. For all plans, we are responsible to fund the employer contributions directly. Total employee benefit expense for these plans was $590 and $1,026 during the 13 weeks ended October 28, 2023 and October 29, 2022, respectively. Total employee benefit expense for these plans was $1,687 and $2,285 during the 26 weeks ended October 28, 2023 and October 29, 2022, respectively.

Commencing in September 2023, we revised the 401(k)-retirement savings plan to an annual end of plan year discretionary match, in lieu of the current pay period match.