Stockholders' Deficit

4 Months Ended

Jan. 17, 2021

Stockholders' Equity Note [Abstract]

Stockholders' Deficit

STOCKHOLDERS’ DEFICIT

Summary of changes in stockholders’ deficit — A reconciliation of the beginning and ending amounts of stockholders’ deficit is presented below (in thousands):

	Sixteen Weeks Ended
	January 17, 2021		January 19, 2020
Balance at beginning of period	$	(793,361)	$	(737,584)
Shares issued under stock plans, including tax benefit	114		184
Share-based compensation expense	1,231		3,184
Dividends declared	(9,089)		(9,425)
Purchases of treasury stock	—		(153,550)
Net earnings	50,859		7,897
Other comprehensive income, net of taxes	1,123		51,011
Cumulative-effect from a change in accounting principle	—		(2,870)
Balance at end of period	$	(749,123)	$	(841,153)

Repurchases of common stock — There were no repurchases of common stock in the first quarter of fiscal 2021. As of January 17, 2021, this leaves $200.0 million remaining under share repurchase programs authorized by the Board of Directors, consisting of $100.0 million that expires in November 2021 and $100.0 million that expires in November 2022.

Dividends — During 2021, the Board of Directors declared a cash dividend of $0.40 per common totaling $9.1 million. Future dividends are subject to approval by our Board of Directors.