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STOCK REPURCHASE PROGRAM
6 Months Ended
Mar. 29, 2025
Equity [Abstract]  
STOCK REPURCHASE PROGRAM STOCK REPURCHASE PROGRAM
Occasionally at management's discretion, the Company repurchases its common stock in the open market, depending on prevailing market conditions, the Company's liquidity requirements, contractual restrictions and other factors. On January 27, 2022, the Board of Directors of the Company (the “Board”) authorized a new stock repurchase program to permit repurchases of its outstanding common stock not to exceed $2,200 million in the aggregate (the “$2,200 million stock repurchase program”), replacing the $650 million stock repurchase program previously authorized by the Board on November 8, 2017, subject to any restrictions specified in the Second Amended and Restated Credit Agreement dated as of June 4, 2014 (the “Credit Agreement”), and indentures governing the Company's existing Notes. There is no expiration date for this program.
During the second quarter of fiscal 2025, the Company repurchased 42,669 shares of common stock at an average price of $1,249.52 per share for a total amount of $53 million. For the twenty-six week period ended March 29, 2025, the Company repurchased 295,469 shares of common stock at an average price of $1,248.78 per share for a total amount of $369 million. The repurchased shares of common stock are classified as treasury stock in the statement of changes in stockholders' deficit. As of March 29, 2025, $919 million remains available for repurchase under the $2,200 million stock repurchase program.
Subsequent Event April Share Repurchase Activity In April 2025, the Company repurchased 105,567 shares of common stock at an average price of $1,240.91 per share for a total amount of $131 million.