Income Taxes (Tables)

12 Months Ended

Jun. 27, 2015

Income Tax Disclosure [Abstract]

Components of the provision for income taxes

The components of the provision for income taxes from continuing operations are as follows:

Fiscal Years	2015		2014		2013
Current:
Federal	$	9,912	$	10,723	$	15,646
State and local	1,905		844		3,687
Foreign	3,751		5,283		5,653
	15,568		16,850		24,986
Deferred	18,638		16,880		3,660
Provision for income taxes from continuing operations	$	34,206	$	33,730	$	28,646

Reconciliation of the United States statutory income tax rate with our effective income tax rate

The following table reconciles the United States statutory income tax rate with our effective income tax rate from continuing operations:

Fiscal Years	2015		2014		2013
United States statutory rate	35.0	%	35.0	%	35.0	%
State taxes, net of federal tax benefit	2.8		3.0		3.7
Foreign earnings taxed at different rates	(0.3	)	—		(0.3	)
Change in uncertain tax position reserve	(1.0	)	—		(1.6	)
Permanent differences and other, net	(0.1	)	(0.4	)	(0.6	)
Effective income tax rate from continuing operations	36.4	%	37.6	%	36.2	%

Tax effects of temporary differences that give rise to deferred tax assets and liabilities

The tax effects of temporary differences that give rise to deferred tax assets and liabilities are as follows:

Fiscal Years	2015			2014
Deferred tax liabilities:
Inventory	$	(47,888	)	$	(40,781	)
Depreciation	(12,899		)	(9,815		)
Intangibles	(57,146		)	(52,889		)
Derivative financial instruments	(2,630		)	(627		)
Other	(904		)	(2,606		)
Total deferred tax liabilities	(121,467		)	(106,718		)
Deferred tax assets:
Compensation and employees benefits	44,833			50,024
Accruals and reserves	10,859			7,618
Share-based payments	4,025			3,864
Net operating loss	1,693			7,156
Other	1,986			1,968
Gross deferred tax assets	63,396			70,630
Less valuation allowance	(1,209		)	(6,762		)
Total deferred tax assets	62,187			63,868
Net deferred tax liabilities	$	(59,280	)	$	(42,850	)

Reconciliation of the beginning and ending amount of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

Fiscal Years	2015			2014
Beginning balance	$	10,826		$	9,338
Tax positions related to current year:
Gross increase	1,487			1,196
Tax positions related to prior years:
Gross increase	208			1,090
Gross decrease	(547		)	(152		)
Settlements	(1,670		)	(114		)
Lapses in statutes of limitations	(1,465		)	(532		)
Ending balance	$	8,839		$	10,826