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Shareholders' Equity (Tables)
 12 Months Ended
Apr. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Stock by Class
The number of shares of common stock, par value $0.50 per share, authorized, issued and outstanding and in treasury, was as follows:
 
 
April 30, 2016
 
May 2, 2015
Authorized
100,000,000

 
100,000,000

Issued and outstanding
38,181,985

 
39,702,036

In treasury
1,346,624

 
1,346,624
Schedule of Expense Related to Equity Awards
The table below summarizes the expense related to the equity awards for fiscal 2016, 2015 and 2014.
 
Compensation Expense
 
Fiscal 2016
 
Fiscal 2015
 
Fiscal 2014
2014 Incentive Plan:
 
 
 
 
 
RSAs
$3.6
 
$0.5
 
$0.0
RSUs
2.8

 
—

 
—

Total 2014 Incentive Plan
$6.4
 
$0.5
 
$0.0
 
 
 
 
 
 
2010 Stock Plan:
 
 
 
 
 
RSAs
$0.0
 
$1.5
 
$1.5
RSUs
0.1

 
0.1

 
0.3

Stock options
0.3

 
1.2

 
0.8

Total 2010 Stock Plan
$0.4
 
$2.8
 
$2.6
 
 
 
 
 
 
2007 Stock Plan:
 
 
 
 
 
RSAs
$0.0
 
$0.5
 
$0.4
Stock options
0.6

 
0.5

 
0.3

Total 2007 Stock Plan
$0.6
 
$1.0
 
$0.7
 
 
 
 
 
 
Total Compensation Expense
$7.4
 
$4.3
 
$3.3
2014 Incentive Plan  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Restricted Stock Awards and Restricted Stock Units Activity
The following table summarizes the RSA and RSU activity for fiscal 2015 and fiscal 2016 under the 2014 Incentive Plan:
 
RSA Shares
 
RSU Shares
Unvested and unissued at May 3, 2014
—

 
—

Awarded
13,500

 
—

Vested
(13,500
)
 
—

Forfeited and Cancelled
—

 
—

Unvested and unissued at May 2, 2015
—

 
—

Awarded
1,185,000

 
576,000

Vested
(24,000
)
 
—

Forfeited and Cancelled
—

 
—

Unvested and unissued at April 30, 2016
1,161,000

 
576,000
Schedule of Restricted Stock Awards and Restricted Stock Units by Grant Year and Vesting Period
 
 
 
 
 
 
Weighted Average Value
 
Probable Unearned Compensation Expense at April 30, 2016
 
Target Unearned Compensation Expense at April 30, 2016
Grant Fiscal Year
 
Number of Shares Granted
 
Vesting Period
 
 
 
2016
 
774,000

(1) 
Five-year RSA cliff, performance-based
 
$
31.98

 
$
21.9

 
$
21.9

2016
 
576,000

 
Five-year RSU, 30% in fiscal 2018, 30% in fiscal 2019 and 40% in fiscal 2020
 
$
32.02

 
$
15.6

 
$
15.6


(1) RSA shares based on fiscal 2020 EBITDA target levels
2010 Stock Plan  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Restricted Stock Awards and Restricted Stock Units Activity
The following table summarizes the RSA and RSU activity for fiscal year 2016, 2015 and 2014 under the 2010 Stock Plan:
 
RSA Shares
 
RSU Shares
Unvested and unissued at April 27, 2013
700,000

 
120,000

Awarded
—

 
—

Vested
—

 
(60,000
)
Forfeited and Cancelled
—

 
—

Unvested and unissued at May 3, 2014
700,000

 
60,000

Awarded
—

 
—

Vested
(633,333
)
 
(60,000
)
Forfeited and Cancelled
—

 
—

Unvested and unissued at May 2, 2015
66,667

 
—

Awarded
—

 
—

Vested
(33,333
)
 
—

Forfeited and Cancelled
—

 
—

Unvested and unissued at April 30, 2016
33,334

 
—
Summary of Stock Option Activity and Related Information for Stock Options Granted
The following tables summarize the stock option activity and related information for the stock options granted under the 2010 Stock Plan for fiscal 2016, 2015 and 2014:
 
 
Summary of Option Activity
 
 
Shares
 
Wtd. Avg. Exercise Price
Outstanding April 27, 2013
 
360,000

 
$9.53
Awarded
 
120,000

 
17.27

Exercised
 
(59,999
)
 
9.50

Cancelled
 
—

 
—

Outstanding May 3, 2014
 
420,001

 
$11.75
Awarded
 
108,000

 
37.01

Exercised
 
(285,334
)
 
10.47

Cancelled
 
—

 
—

Outstanding May 2, 2015
 
242,667

 
$24.50
Awarded
 
—

 
—

Exercised
 
(18,668
)
 
12.96

Cancelled
 
(26,667
)
 
32.07

Outstanding April 30, 2016
 
197,332

 
$24.55
Summary of Stock Option Activity and Related Information for Stock Options Granted, Options Outstanding and Exercisable
Options Outstanding
at April 30, 2016
Shares
 
Exercise Price
 
Avg. Remaining Life (Years)
5,333

 
$10.70
 
5.3
30,666

 
$8.64
 
6.3
73,333

 
$17.27
 
7.3
88,000

 
$37.01
 
8.3
197,332

 
$24.55
 
 
Options Exercisable
at April 30, 2016
Shares
 
Exercise Price
 
Avg. Remaining Life (Years)
5,333

 
$10.70
 
5.3
30,666

 
$8.64
 
6.3
33,333

 
$17.27
 
7.3
16,000

 
$37.01
 
8.3
85,332

 
$17.46
 
 
Schedule of Estimated Fair Value of Stock Options on Date of Grant, Assumptions
We estimated the fair value of these stock options on the date of grant using the Black-Scholes option-pricing model with the following assumptions:
 
2010 Stock Plan
 
Fiscal 2015
 
Fiscal 2014
 
 
Awards
 
Awards
 
Average expected volatility
51.00
%
 
65.33
%
 
Average risk-free interest rate
1.00
%
 
0.65
%
 
Dividend yield
1.66
%
 
2.81
%
 
Expected life of options (in years)
4.12

 
7.61

 
Weighted-average grant-date fair value
$
14.99

 
$
8.39

 
2007 Stock Plan  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Restricted Stock Awards and Restricted Stock Units Activity
The following table summarizes the RSA activity under the 2007 Stock Plan: 
 
Fiscal 2016
 
Fiscal 2015
 
Fiscal 2014
Unvested at beginning of fiscal year
—

 
—

 
—

Awarded
—

 
13,500

 
27,000

Vested
—

 
(13,500
)
 
(27,000
)
Forfeited
—

 
—

 
—

Unvested at end of period
—

 
—

 
—
Summary of Stock Option Activity and Related Information for Stock Options Granted
The following tables summarize the stock option activity and related information for the stock options granted under the 2007 Stock Plan for fiscal year 2016, 2015 and 2014:
 
 
Summary of Option Activity
 
Shares
 
Wtd. Avg.
Exercise Price
Outstanding at April 27, 2013
778,000

 
$5.94
 
 
 
 
Awarded
42,500

 
17.27

Exercised
(648,141
)
 
5.60

Cancelled
—

 
—

Outstanding at May 3, 2014
172,359

 
$10.02
 
 
 
 
Awarded
50,500

 
37.01

Exercised
(114,859
)
 
8.55

Cancelled
—

 
—

Outstanding at May 2, 2015
108,000

 
$24.21
 
 
 
 
Awarded
—

 
—

Exercised
(28,334
)
 
10.99

Cancelled
—

 
—

Outstanding at April 30, 2016
79,666

 
$28.91
Summary of Stock Option Activity and Related Information for Stock Options Granted, Options Outstanding and Exercisable
Options Outstanding
at April 30, 2016
Shares
 
Exercise Price
 
Avg.
Remaining
Life (Years)
5,000

 
$10.55
 
4.3
4,166

 
$8.64
 
6.3
20,000

 
$17.27
 
7.3
50,500

 
$37.01
 
8.3
79,666

 
$28.91
 
 
 
Options Exercisable
at April 30, 2016 
Shares
 
Exercise Price
 
Avg.
Remaining
Life (Years)
5,000

 
$10.55
 
4.3
4,166

 
$8.64
 
6.3
5,834

 
$17.27
 
7.3
16,833

 
$37.01
 
8.3
31,833

 
$25.52
 
 
Schedule of Estimated Fair Value of Stock Options on Date of Grant, Assumptions
We estimated the fair value of these stock options on the date of grant using the Black-Scholes option-pricing model with the following assumptions:
 
Fiscal 2015
Awards
 
Fiscal 2014
Awards
 
Average expected volatility
51.00
%
 
65.33
%
 
Average risk-free interest rate
1.00
%
 
0.65
%
 
Dividend yield
1.66
%
 
2.81
%
 
Expected life of options
4.12 years

 
7.61 years

 
Weighted-average grant-date fair value
$
14.99

 
$
8.39