Basis of Presentation (Tables)

9 Months Ended

Jan. 27, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of New Accounting Pronouncements Adopted and Not Yet Adopted

The following table summarizes Accounting Standards Updates ("ASUs") which were adopted in fiscal 2024, but did not have a material impact on our accounting policies or our consolidated financial statements and related disclosures.

ASU	Description	Adoption Date
ASU 2021-08	Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers	Fiscal 2024

Accounting Pronouncements not yet Adopted

The following table summarizes additional accounting pronouncements which we have not yet adopted, but we believe will not have a material impact on our accounting policies or our consolidated financial statements and related disclosures.

ASU	Description	Adoption Date
ASU 2023-09	Income Taxes - Improvements to Income Tax Disclosures	Fiscal 2026
ASU 2023-07	Segment Reporting - Improvements to Reportable Segment Disclosures	Fiscal 2025
ASU 2023-05	Business Combinations - Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement	Fiscal 2025
ASU 2023-02	Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method	Fiscal 2025

Schedule of Error Corrections and Prior Period Adjustments

In accordance with US GAAP, the period presented below has been retrospectively adjusted to reflect the change to cost of sales and SG&A expense. This change had no impact to sales, income from operations, net income, earnings per share, retained earnings or other components of equity or net assets.

(Unaudited, amounts in thousands)	For the Quarter Ended January 28, 2023						For the Nine Months Ended January 28, 2023
	Previously Reported		Effect of Change		As Adjusted		Previously Reported		Effect of Change		As Adjusted
Cost of sales	$	326,296	$	10,846	$	337,142	$	1,039,523	$	32,528	$	1,072,051
Gross profit	246,427		(10,846)		235,581		748,623		(32,528)		716,095
Selling, general and administrative expense	203,587		(10,846)		192,741		591,257		(32,528)		558,729