Stockholders' Equity (Tables)

12 Months Ended

Jul. 02, 2016

Stockholders' Equity Note [Abstract]

Schedule of Black-Scholes Option Pricing Model

The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes or similar option pricing model using the assumptions noted in the following table. Expected volatility is based on the historical volatility of our stock, as we believe that is the best estimate of volatility over the term of the options. We use historical data to estimate option exercises and employee terminations within the valuation model. The expected term of the options granted is derived from historical data and represents the period of time that options granted are expected to be outstanding. The risk free interest rate for each option is the interpolated market yield on a U.S. Treasury bill with a term comparable to the expected term of the granted stock option.

	For the Fiscal Years
	2016	2015	2014
Expected share price volatility	24.6% - 25.3%	27.6% - 28.7%	27.4% - 27.7%
Weighted average volatility	25.3%	28.2%	27.5%
Expected dividend yield	1.7% - 2.1%	1.8% - 2.4%	2.0%
Expected term (in years)	5	5	5 - 6
Risk free rate	1.2% - 1.5%	1.3% - 1.7%	1.6% - 2.0%

Schedule of Stock Option Activity under the Plans

A summary of stock option activity under our plans as of July 2, 2016, and changes during the year then ended is presented below:

	Shares		Weighted Average Exercise Prices		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Outstanding at June 27, 2015	632,287		$	32.31
Granted	185,442		71.17
Exercised	(89,135	)	24.23
Forfeited or expired	(11,185	)	61.53
Outstanding at July 2, 2016	717,409		$	42.90	6.75	$	24,255
Exercisable at July 2, 2016	415,503		$	27.79	5.41	$	20,324

Schedule of Non-Vested Shares of Restricted Stock

A summary of the status of our non-vested shares of restricted stock as of July 2, 2016 and changes during the fiscal year ended July 2, 2016, is presented below:

	Shares		Weighted-Average Grant-Date Fair Value
Non-vested at June 27, 2015	224,121		$	47.45
Granted	201,032		70.26
Vested	(165,822	)	56.80
Forfeited	(11,556	)	49.25
Non-vested at July 2, 2016	247,775		$	59.61