Equity and Earnings Per Share (Tables)

12 Months Ended

Apr. 27, 2024

Reconciliation of Basic and Diluted Loss Per Share

On June 11, 2024, we completed a reverse stock split of the Company’s outstanding shares of common stock at a ratio of 1-for-100 (the “Reverse Stock Split”), which was approved by stockholders at a special meeting held on June 5, 2024. In connection with the Reverse Stock Split, every 100 shares of the common stock issued and outstanding was converted into one share of the Company’s common stock. For additional information, see Part II - Item 8. Financial Statements and Supplementary Data - Note 17. Subsequent Events.

Weighted average shares for both basic and diluted, prior to giving effect to the bonus element of the rights offering and the Reverse Stock Split was 52,935,533 for the 52 weeks ended April 27, 2024. The weighted average common shares and loss per common share reflect the bonus element resulting from the equity rights offering and the Reverse Stock Split for all periods presented on the consolidated statements of operations.

The following is a reconciliation of the basic and diluted earnings per share calculation:

	52 weeks ended
(shares in thousands)	April 27, 2024		April 29, 2023
Numerator for basic and diluted earnings per share:
Loss from continuing operations, net of tax	$	(62,481)	$	(90,140)
Loss from discontinued operations, net of tax	(730)		(11,722)
Net loss available to common shareholders	$	(63,211)	$	(101,862)
Denominator for basic and diluted earnings per share:
Basic and diluted weighted average shares of Common Stock	2,662		2,638
Loss per share of Common Stock:
Basic and Diluted
Continuing operations	$	(23.47)	$	(34.17)
Discontinued operations	(0.28)		(4.44)
Basic and diluted loss per share of Common Stock	$	(23.75)	$	(38.61)