Quarterly Earnings (Tables)

12 Months Ended

Apr. 27, 2024

Quarterly Financial Information [Table Text Block]

A summary of quarterly financial information for the 52 weeks ended April 27, 2024 and April 29, 2023 is as follows:


	13 weeks ended (a)						52 weeks ended
	July 29, 2023		October 28, 2023		January 27, 2024		April 27, 2024		April 27, 2024
Sales	$	264,161	$	610,379	$	456,673	$	235,922	$	1,567,135
Gross profit	$	50,634	$	136,242	$	100,036	$	69,864	$	356,776
(Loss) income from continuing operations, net of tax (b)(c)(d)	$	(49,971)	$	24,854	$	(9,928)	$	(27,436)	$	(62,481)
Loss from discontinued operations, net of tax	$	(417)	$	(674)	$	289	$	72	$	(730)
Net (loss) income (b)(c)(d)	$	(50,388)	$	24,180	$	(9,639)	$	(27,364)	$	(63,211)

(Loss) earnings per common share: (e)
Basic and Diluted
Continuing operations	$	(18.87)	$	9.36	$	(3.71)	$	(10.27)	$	(23.47)
Discontinued operations	(0.16)		(0.25)		0.11		0.03		(0.28)
Total Basic and Diluted Earnings per share	$	(19.03)	$	9.11	$	(3.60)	$	(10.24)	$	(23.75)
Weighted average common shares outstanding - Basic:	2,648		2,655		2,673		2,673		2,662
Weighted average common shares outstanding - Diluted:	2,648		2,655		2,673		2,673		2,662

(a) For information related to quarterly seasonality and other variance components, see Part II - Item 7. Management Discussion and Analysis - Results of Operations and Item 8. Financial Statements and Supplementary Data - Note 2. Summary of Significant Accounting Policies - Seasonality.

(b) Includes $4,633, $4,274, $3,413, and $7,089 of restructuring and other charges for the 13 weeks ended July 29, 2023, October 28, 2023, January 27, 2024 and April 27, 2024, respectively, and $19,409 for the 52 weeks ended April 27, 2024.

(c) Includes $0, $0, $5,798, and $1,368 of impairment loss (non-cash) for the 13 weeks ended July 29, 2023, October 28, 2023, January 27, 2024 and April 27, 2024, respectively, and $7,166 for the 52 weeks ended April 27, 2024.

(d) Includes $8,254, $10,664, $10,620, and $10,827 of interest expense for the 13 weeks ended July 29, 2023, October 28, 2023, January 27, 2024 and April 27, 2024, respectively, and $40,365 for the 52 weeks ended April 27, 2024. The increase in interest expense is primarily due to higher borrowings, higher interest rates and increased amortization of deferred financing costs.

(e) On June 10, 2024, subsequent to the end of Fiscal 2024, we completed various transactions, including an equity rights offering. Because the rights issuance was offered to all existing stockholders at an exercise price that was less than the fair value of our Common Stock, as of such time, the weighted average shares outstanding and basic and diluted earnings (loss) per share were adjusted retroactively to reflect the bonus element of the rights offering for all periods presented by a factor of 5.03.

On June 11, 2024, subsequent to the end of Fiscal 2024, we completed a reverse stock split of our outstanding shares of common stock at a ratio of 1-for-100 in which every 100 shares of the common stock issued and outstanding was converted into one share of our common stock.

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. For additional information, see Part II - Item 8. Financial Statements and Supplementary Data - Note 17. Subsequent Events.


	13 weeks ended (a)						52 weeks ended
	July 30, 2022		October 29, 2022		January 28, 2023		April 29, 2023		April 29, 2023
Sales	$	254,674	$	608,633	$	438,054	$	241,847	$	1,543,208
Gross profit	$	56,005	$	138,141	$	97,011	$	58,282	$	349,439
(Loss) income from continuing operations, net of tax (b)(c)(d)	$	(50,322)	$	24,168	$	(22,134)	$	(41,852)	$	(90,140)
Loss from discontinued operations, net of tax	$	(2,385)	$	(2,024)	$	(2,915)	$	(4,398)	$	(11,722)
Net (loss) income (b)(c)(d)	$	(52,707)	$	22,144	$	(25,049)	$	(46,250)	$	(101,862)

(Loss) earnings per common share: (e)
Basic
Continuing operations	$	(19.18)	$	9.16	$	(8.37)	$	(15.82)	$	(34.17)
Discontinued operations	(0.91)		(0.77)		(1.10)		(1.66)		(4.44)
Total Basic Earnings per share	$	(20.09)	$	8.39	$	(9.47)	$	(17.48)	$	(38.61)
Weighted average common shares outstanding - Basic:	2,624		2,637		2,646		2,646		2,638

Diluted
Continuing operations	$	(19.18)	$	9.14	$	(8.37)	$	(15.82)	$	(34.17)
Discontinued operations	(0.91)		(0.77)		(1.10)		(1.66)		(4.44)
Total Diluted Earnings per share	$	(20.09)	$	8.37	$	(9.47)	$	(17.48)	$	(38.61)
Weighted average common shares outstanding - Diluted:	2,624		2,645		2,646		2,646		2,638

(b) Includes $375, $260, $4,127, and $5,341 of restructuring and other charges for the 13 weeks ended July 30, 2022, October 29, 2022, January 28, 2023 and April 29, 2023, respectively, and $10,103 for the 52 weeks ended April 29, 2023.

(c) Includes $0, $0, $6,008, and $0 of impairment loss (non-cash) for the 13 weeks ended July 30, 2022, October 29, 2022, January 28, 2023 and April 29, 2023, respectively, and $6,008 for the 52 weeks ended April 29, 2023.

(d) Includes $3,868, $4,886, $6,918, and $7,011 of interest expense for the 13 weeks ended July 30, 2022, October 29, 2022, January 28, 2023 and April 29, 2023, respectively, and $22,683 for the 52 weeks ended April 29, 2023.

On June 11, 2024, subsequent to the end of Fiscal 2024, we completed a reverse stock split of our outstanding shares of common stock at a ratio of 1-

for-100 in which every 100 shares of the common stock issued and outstanding was converted into one share of our common stock.