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CONSOLIDATED STATEMENTS OF NET LOSS - USD ($)
12 Months Ended
Apr. 28, 2024
Apr. 30, 2023
May 01, 2022
Income Statement [Abstract]      
net sales $ 225,333,000 $ 234,934,000 $ 294,839,000
cost of sales (197,394,000) (224,038,000) (258,746,000)
gross profit 27,939,000 10,896,000 36,093,000
selling, general and administrative expenses (38,611,000) (37,978,000) (35,415,000)
restructuring expense (636,000) [1] (1,396,000) [2]  
(loss) income from operations (11,308,000) (28,478,000) 678,000
interest expense (11,000)   (17,000)
interest income 1,174,000 531,000 373,000
other expense (625,000) (443,000) (1,359,000)
loss before income taxes (10,770,000) (28,390,000) (325,000)
income tax expense (3,049,000) (3,130,000) (2,886,000)
net loss $ (13,819,000) $ (31,520,000) $ (3,211,000)
net loss per share-basic $ (1.11) $ (2.57) $ (0.26)
net loss per share-diluted $ (1.11) $ (2.57) $ (0.26)
[1] Restructuring expense of $636,000 for fiscal 2024 represents impairment charges related to equipment of $329,000 and employee termination benefits of $103,000 related to the discontinuation of production of cut and sewn upholstery kits at the company's facility in Ouanaminthe, Haiti. In addition, during the fourth quarter of fiscal 2024, restructuring expense of $204,000 was incurred for employee termination benefits related to the closure of the upholstery fabrics finishing operation located in Shanghai, China.
[2] Restructuring expense of $1.4 million for fiscal 2023 relates to both our restructuring activities for our cut and sew upholstery fabrics operations located in Shanghai, China, which occurred during the second quarter of fiscal 2023, and located in Ouanaminthe, Haiti, which occurred during the third and fourth quarters of fiscal 2023. Restructuring expense represents employee termination benefits of $507,000, lease termination costs of $481,000, impairment losses totaling $357,000 that relate to leasehold improvements and equipment, and $51,000 for other associated costs.