XML 57 R2.htm IDEA: XBRL DOCUMENT v3.23.2
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Apr. 29, 2023
Apr. 30, 2022
Apr. 24, 2021
Pay vs Performance Disclosure [Table]      
Pay vs Performance [Table Text Block]
Pay Versus Performance
Value of Initial Fixed $100 Investment Based On: (4)
Year(1)
Summary
Compensation
Table Total for
Whittington
($)(2)
Summary
Compensation
Table Total for
Darrow
($)(2)
Compensation
Actually Paid
to Whittington
($)(3)
Compensation
Actually Paid
to Darrow
($)(3)
Average
Summary
Compensation
Table Total for
Non-PEO
NEOs
($)(2)
Average
Compensation
Actually Paid
to Non-PEO
NEOs
($)(3)
Total
Shareholder
Return
($)
Peer Group
Total
Shareholder
Return
($)(5)
Net Income
($000)
Sales
($000)(6)
FY 20235,983,987N/A6,667,375 N/A1,549,759 1,683,115 143.95 172.75 150,664 2,349,433 
FY 20225,798,794N/A3,020,052 N/A1,662,812 720,942 128.27 174.70 150,017 2,356,811 
FY 2021N/A6,710,425 N/A14,512,272 1,755,984 3,279,190 207.10 250.51 106,461 1,734,244 
    
Company Selected Measure Name Sales    
Named Executive Officers, Footnote [Text Block] The PEO and NEOs for the applicable fiscal years were as follows:
a.FY 2023: Melinda D. Whittington served as the company's PEO for the entirety of FY 2023 and the company's other NEOs were: Robert G. Lucian, Otis S. Sawyer, Michael A. Leggett, and Robert Sundy II.
b.FY 2022: Melinda D. Whittington served as the company's PEO for the entirety of FY 2022 and the company's other NEOs were: Robert G. Lucian, Darrell D. Edwards, Otis S. Sawyer, and Raphael Z. Richmond.
c.FY 2021: Kurt L. Darrow served as the company's PEO for the entirety of FY 2021 and the company's other NEOs were: Melinda D. Whittington, Darrell D. Edwards, Otis S. Sawyer, and Stephen K. Krull. 		   
Peer Group Issuers, Footnote [Text Block] The company used the Dow Jones U.S. Furnishings Index for its Total Shareholder Return (“TSR”) Peer Group. This is the same peer group used for purposes of the 2023 Annual Report.    
Adjustment To PEO Compensation, Footnote [Text Block]
CAP Adjustments
Year
Summary
Compensation
Table Total
($)(a)
Minus

Grant Date Fair Value of Stock Option and Stock
Awards
Granted in
Fiscal Year
($)(b)
Plus

Fair Value at Fiscal Year-End of Outstanding and Unvested Stock Option and Stock Awards Granted in Fiscal Year
($)(c)
Plus/(Minus)

 Change in Fair Value of Outstanding and Unvested Stock Option and Stock Awards Granted in Prior Fiscal Years
($)(d)
Plus/(Minus)

Fair Value at Vesting of Stock Option and Stock Awards Granted in Fiscal Year that Vested During Fiscal Year
($)(e)
Plus/(Minus)

Change in Fair Value as of Vesting Date of Stock Option and Stock Awards Granted in Prior Years for which Applicable Vesting Conditions Were Satisfied During Fiscal Year
($)(f)
Minus

Fair Value as of Prior Fiscal Year-End of Stock Option and Stock Awards Granted in Prior Fiscal Years that Failed to Meet Applicable Vesting Conditions During Fiscal Year
($)(g)
Plus

Dollar Value of Dividends or Other Earnings Paid on Stock Awards in Fiscal Year and Prior to Vesting Date
($)(h)
Equals
Compensation
Actually Paid
($)
Melinda D. Whittington
FY 20235,983,987(3,535,586)4,172,324 111,389 — (84,103)— 19,364 6,667,375 
FY 20225,798,794(2,699,687)1,399,838 (1,115,543)— (369,278)— 5,928 3,020,052 
Kurt L. Darrow
FY 20216,710,425(2,855,441)5,256,100 3,860,777 — 1,534,518 — 5,893 14,512,272 
Non-PEOs (Average) (i)
FY 20231,549,759(657,470)775,876 22,396 — (13,725)— 6,279 1,683,115 
FY 20221,662,812(535,139)277,482 (484,233)— (201,653)— 1,673 720,942 
FY 20211,755,984 (580,383)1,068,302 770,560 — 262,213 — 2,514 3,279,190 
Represents Total Compensation as reported in the Summary Compensation Table for the indicated fiscal year. With respect to the non-PEOs, amount shown represent averages.
b.Represents the grant date fair value of the stock option and stock awards granted during the indicated fiscal year, computed in accordance with the methodology used for financial reporting purposes.
c.Represents the fair value as of the indicated fiscal year-end of the outstanding and unvested option awards and stock awards granted during such fiscal year, computed in accordance with the methodology used for financial reporting purposes and, in the case of performance-based share awards, are valued based on the probable outcome of the underlying performance-based vesting conditions as of the applicable fiscal-year end.
d.Represents the change in fair value during the indicated fiscal year of the outstanding and unvested option awards and stock awards held by the applicable NEO, granted in previous fiscal years, as of the last day of the indicated fiscal year, computed in accordance with the methodology used for financial reporting purposes and, for performance-based share awards, based on the probable outcome of the underlying performance-based vesting conditions as of the last day of the fiscal year.
e.Represents the fair value at vesting of the option awards and stock awards that were granted and vested during the indicated fiscal year, computed in accordance with the methodology used for financial reporting purposes.
f.Represents the change in fair value, measured from the prior fiscal year-end to the vesting date, of each option award and stock award that was granted in a prior fiscal year and which vested during the indicated fiscal year, computed in accordance with the methodology used for financial reporting purposes.
g.Represents the fair value as of the last day of the prior fiscal year of the option award and stock awards that were granted in a prior fiscal year and which failed to meet the applicable vesting conditions in the indicated fiscal year, computed in accordance with the methodology used for financial reporting purposes.
h.Represents the dollar value of any cash dividends or other earnings paid on stock awards in the indicated fiscal year and prior to the vesting date that are not otherwise included in the total compensation for the indicated fiscal year.
i.See footnote 1 above for the non-PEOs included in the average for each year. As discussed above, Ms. Whittington is included in the average for the non-PEOs for FY 2021.
    
Non-PEO NEO Average Total Compensation Amount $ 1,549,759 $ 1,662,812 $ 1,755,984
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,683,115 720,942 3,279,190
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]
CAP Adjustments
Year
Summary
Compensation
Table Total
($)(a)
Minus

Grant Date Fair Value of Stock Option and Stock
Awards
Granted in
Fiscal Year
($)(b)
Plus

Fair Value at Fiscal Year-End of Outstanding and Unvested Stock Option and Stock Awards Granted in Fiscal Year
($)(c)
Plus/(Minus)

 Change in Fair Value of Outstanding and Unvested Stock Option and Stock Awards Granted in Prior Fiscal Years
($)(d)
Plus/(Minus)

Fair Value at Vesting of Stock Option and Stock Awards Granted in Fiscal Year that Vested During Fiscal Year
($)(e)
Plus/(Minus)

Change in Fair Value as of Vesting Date of Stock Option and Stock Awards Granted in Prior Years for which Applicable Vesting Conditions Were Satisfied During Fiscal Year
($)(f)
Minus

Fair Value as of Prior Fiscal Year-End of Stock Option and Stock Awards Granted in Prior Fiscal Years that Failed to Meet Applicable Vesting Conditions During Fiscal Year
($)(g)
Plus

Dollar Value of Dividends or Other Earnings Paid on Stock Awards in Fiscal Year and Prior to Vesting Date
($)(h)
Equals
Compensation
Actually Paid
($)
Melinda D. Whittington
FY 20235,983,987(3,535,586)4,172,324 111,389 — (84,103)— 19,364 6,667,375 
FY 20225,798,794(2,699,687)1,399,838 (1,115,543)— (369,278)— 5,928 3,020,052 
Kurt L. Darrow
FY 20216,710,425(2,855,441)5,256,100 3,860,777 — 1,534,518 — 5,893 14,512,272 
Non-PEOs (Average) (i)
FY 20231,549,759(657,470)775,876 22,396 — (13,725)— 6,279 1,683,115 
FY 20221,662,812(535,139)277,482 (484,233)— (201,653)— 1,673 720,942 
FY 20211,755,984 (580,383)1,068,302 770,560 — 262,213 — 2,514 3,279,190 
Represents Total Compensation as reported in the Summary Compensation Table for the indicated fiscal year. With respect to the non-PEOs, amount shown represent averages.
b.Represents the grant date fair value of the stock option and stock awards granted during the indicated fiscal year, computed in accordance with the methodology used for financial reporting purposes.
c.Represents the fair value as of the indicated fiscal year-end of the outstanding and unvested option awards and stock awards granted during such fiscal year, computed in accordance with the methodology used for financial reporting purposes and, in the case of performance-based share awards, are valued based on the probable outcome of the underlying performance-based vesting conditions as of the applicable fiscal-year end.
d.Represents the change in fair value during the indicated fiscal year of the outstanding and unvested option awards and stock awards held by the applicable NEO, granted in previous fiscal years, as of the last day of the indicated fiscal year, computed in accordance with the methodology used for financial reporting purposes and, for performance-based share awards, based on the probable outcome of the underlying performance-based vesting conditions as of the last day of the fiscal year.
e.Represents the fair value at vesting of the option awards and stock awards that were granted and vested during the indicated fiscal year, computed in accordance with the methodology used for financial reporting purposes.
f.Represents the change in fair value, measured from the prior fiscal year-end to the vesting date, of each option award and stock award that was granted in a prior fiscal year and which vested during the indicated fiscal year, computed in accordance with the methodology used for financial reporting purposes.
g.Represents the fair value as of the last day of the prior fiscal year of the option award and stock awards that were granted in a prior fiscal year and which failed to meet the applicable vesting conditions in the indicated fiscal year, computed in accordance with the methodology used for financial reporting purposes.
h.Represents the dollar value of any cash dividends or other earnings paid on stock awards in the indicated fiscal year and prior to the vesting date that are not otherwise included in the total compensation for the indicated fiscal year.
i.See footnote 1 above for the non-PEOs included in the average for each year. As discussed above, Ms. Whittington is included in the average for the non-PEOs for FY 2021.
    
Compensation Actually Paid vs. Net Income [Text Block]
Compensation Actually Paid versus Net Income
The chart below demonstrates the relationship between Compensation Actually Paid amounts for our PEOs and our other NEOs and our net income. Net income is not a direct component of our executive compensation program, although it is correlated with other components of our executive compensation program, such as our operating margin metric. Variations in the Compensation Actually Paid amounts for our PEOs and other NEOs are due in large part to the significant emphasis the company places on long-term equity incentives, the value of which fluctuates based on the vesting level of our performance-based equity awards and changes in stock price over time.

7146825614933
    
Compensation Actually Paid vs. Company Selected Measure [Text Block]
The chart below demonstrates the relationship between Compensation Actually Paid amounts for our PEOs and each of our other NEOs and our sales for the applicable fiscal year. Variations in the Compensation Actually Paid amounts for our PEOs and other NEOs are due in large part to the significant emphasis the company places on long-term equity incentives, the value of which fluctuates based on the vesting level of our performance-based equity awards and changes in stock price over time.

549755854834
    
Total Shareholder Return Vs Peer Group [Text Block]
We believe the “Compensation Actually Paid” in each of the years reported above and over the three-year cumulative period are reflective of the Compensation Committee’s philosophy to create and reinforce a pay for performance culture as the “Compensation Actually Paid” fluctuated year-over-year, primarily due to our stock performance and our varying levels of achievement against pre-established performance goals under our MIP and long-term equity incentive program, including sales, operating margin, operating cash flow, and relative TSR.
TSR: Company versus Peer Group and Compensation Actually Paid
As shown in the chart below, our three-year cumulative TSR for the period of FY21 through FY23 is slightly less than the three-year cumulative TSR for companies included in our peer group TSR. As this chart demonstrates, Compensation Actually Paid for our PEOs and our other NEOs was generally aligned with our TSR during the applicable period.

7146825614942
    
Tabular List [Table Text Block] Sales
•Operating Margin
•Operating Cash Flow
•Relative TSR
•Stock Price (through the use of stock options and equity-based awards)
    
Total Shareholder Return Amount $ 143.95 128.27 207.10
Peer Group Total Shareholder Return Amount 172.75 174.70 250.51
Net Income (Loss) $ 150,664,000 $ 150,017,000 $ 106,461,000
Company Selected Measure Amount 2,349,433,000 2,356,811,000 1,734,244,000
PEO Name Melinda D. Whittington Melinda D. Whittington Kurt L. Darrow
Additional 402(v) Disclosure [Text Block] Amounts reported in this column represent (i) the total compensation reported in the Summary Compensation Table for the applicable year(s) in which the individual served as PEO (in the case of Ms. Whittington and Mr. Darrow) and (ii) the average of the total compensation reported in the Summary Compensation Table for the applicable fiscal year for the company’s NEOs reported for the applicable year other than the PEOs for such years.(3)To calculate compensation actually paid, adjustments were made to the amounts reported in the Summary Compensation Table for the applicable years. A reconciliation of the adjustments for Ms. Whittington and Mr. Darrow (in the applicable year(s) in which such individuals served as PEO) and for the average of the other NEOs is set forth following the footnotes to this table.(4)Pursuant to the rules of the SEC, the comparison assumes $100 was invested on April 25, 2020 in our common stock. Historic stock price performance is not necessarily indicative of future stock price performance.For FY 2023, the Compensation Committee determined that sales continues to be viewed as a core driver of the company’s performance and stockholder value creation and is used as a component in the company’s FY 2023 MIP and FY 2023 - 2025 long-term equity incentive program. Sales is measured on a GAAP basis and does not reflect any adjustments. Please see the Compensation Discussion and Analysis for further information regarding the use of sales in the company's executive compensation program.    
Measure [Axis]: 1      
Pay vs Performance Disclosure [Table]      
Measure Name Sales    
Measure [Axis]: 2      
Pay vs Performance Disclosure [Table]      
Measure Name Operating Margin    
Measure [Axis]: 3      
Pay vs Performance Disclosure [Table]      
Measure Name Operating Cash Flow    
Measure [Axis]: 4      
Pay vs Performance Disclosure [Table]      
Measure Name Relative TSR    
Measure [Axis]: 5      
Pay vs Performance Disclosure [Table]      
Measure Name Stock Price (through the use of stock options and equity-based awards)    
Whittington [Member]      
Pay vs Performance Disclosure [Table]      
PEO Total Compensation Amount $ 5,983,987 $ 5,798,794  
PEO Actually Paid Compensation Amount 6,667,375 3,020,052  
Darrow [Member]      
Pay vs Performance Disclosure [Table]      
PEO Total Compensation Amount 6,710,425   $ 6,710,425
PEO Actually Paid Compensation Amount 14,512,272   14,512,272
PEO [Member] | Whittington [Member] | Stock Awards Adjustments [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (3,535,586) (2,699,687)  
PEO [Member] | Whittington [Member] | Equity Awards Granted, Unvested [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 4,172,324 1,399,838  
PEO [Member] | Whittington [Member] | Equity Awards Granted in Prior Years, Unvested [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 111,389 (1,115,543)  
PEO [Member] | Whittington [Member] | Equity Awards Granted in Prior Years, Vested [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 0 0  
PEO [Member] | Whittington [Member] | Equity Awards Granted in Prior Years [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (84,103) (369,278)  
PEO [Member] | Whittington [Member] | Equity Awards that Failed to Meet Vesting Conditions [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 0 0  
PEO [Member] | Whittington [Member] | Equity Awards, Value of Dividends and Other Earnings Paid Adjustment [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 19,364 5,928  
PEO [Member] | Darrow [Member] | Stock Awards Adjustments [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount     (2,855,441)
PEO [Member] | Darrow [Member] | Equity Awards Granted, Unvested [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount     5,256,100
PEO [Member] | Darrow [Member] | Equity Awards Granted in Prior Years, Unvested [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount     3,860,777
PEO [Member] | Darrow [Member] | Equity Awards Granted in Prior Years, Vested [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount     0
PEO [Member] | Darrow [Member] | Equity Awards Granted in Prior Years [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount     1,534,518
PEO [Member] | Darrow [Member] | Equity Awards that Failed to Meet Vesting Conditions [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount     0
PEO [Member] | Darrow [Member] | Equity Awards, Value of Dividends and Other Earnings Paid Adjustment [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount     5,893
Non-PEO NEO [Member] | Stock Awards Adjustments [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (657,470) (535,139) (580,383)
Non-PEO NEO [Member] | Equity Awards Granted, Unvested [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 775,876 277,482 1,068,302
Non-PEO NEO [Member] | Equity Awards Granted in Prior Years, Unvested [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 22,396 (484,233) 770,560
Non-PEO NEO [Member] | Equity Awards Granted in Prior Years, Vested [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 0 0 0
Non-PEO NEO [Member] | Equity Awards Granted in Prior Years [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (13,725) (201,653) 262,213
Non-PEO NEO [Member] | Equity Awards that Failed to Meet Vesting Conditions [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 0 0 0
Non-PEO NEO [Member] | Equity Awards, Value of Dividends and Other Earnings Paid Adjustment [Member]      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ 6,279 $ 1,673 $ 2,514