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Discontinued Operations (Tables) | 6 Months Ended
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Jun. 01, 2025
Discontinued Operations and Disposal Groups [Abstract] |
Assets and Liabilities Held for Sale | The following table presents the assets and liabilities held for sale:
| June 1, 2025 |  | December 1, 2024
| (Dollars in millions)
Current Assets: |  |  |
Inventories | $ | 105.3 |  |  | $ | 108.1 |
Total current assets held for sale | 105.3 |  |  | 108.1 |
Property, plant and equipment, net | 8.6 |  |  | 11.3 |
Operating lease right-of-use assets, net | 13.1 |  |  | 23.6 |
Total non-current assets held for sale | 21.7 |  |  | 34.9 |
Total assets held for sale | $ | 127.0 |  |  | $ | 143.0 |
Current Liabilities: |  |  |
Short-term operating lease liabilities | $ | 3.7 |  |  | $ | 5.9 |
Total current liabilities held for sale | 3.7 |  |  | 5.9 |
Long-term operating lease liabilities | 7.3 |  |  | 17.5 |
Total long-term liabilities held for sale | 7.3 |  |  | 17.5 |
Total liabilities held for sale | $ | 11.0 |  |  | $ | 23.4 |
The following table presents the results of discontinued operations:
| Three Months Ended |  | Six Months Ended
| June 1, 2025 |  | May 26, 2024 |  | June 1, 2025 |  | May 26, 2024
| (Dollars in millions)
Net revenues | $ | 71.8 |  |  | $ | 82.4 |  |  | $ | 139.2 |  |  | $ | 159.8 |
Cost of goods sold | 37.3 |  |  | 43.1 |  |  | 68.3 |  |  | 83.8 |
Gross profit | 34.5 |  |  | 39.3 |  |  | 70.9 |  |  | 76.0 |
Selling, general and administrative expenses | 44.1 |  |  | 38.3 |  |  | 85.6 |  |  | 72.9 |
Restructuring charges, net(1) | 6.5 |  |  | — |  |  | 8.3 |  |  | 3.1 |
Net income (loss) from discontinued operations before income taxes | (16.1) |  |  | 1.0 |  |  | (23.0) |  |  | — |
Income tax expense (benefit) | (3.5) |  |  | 0.2 |  |  | (5.2) |  |  | — |
Net income (loss) from discontinued operations, net of taxes | $ | (12.6) |  |  | $ | 0.8 |  |  | $ | (17.8) |  |  | $ | — |
____________ (1)Restructuring charges, net amounts previously attributable to corporate expenses were reported as discontinued operations for the six months ended May 26, 2024.
Results of Discontinued Operations | The following table presents the assets and liabilities held for sale:
| June 1, 2025 |  | December 1, 2024
| (Dollars in millions)
Current Assets: |  |  |
Inventories | $ | 105.3 |  |  | $ | 108.1 |
Total current assets held for sale | 105.3 |  |  | 108.1 |
Property, plant and equipment, net | 8.6 |  |  | 11.3 |
Operating lease right-of-use assets, net | 13.1 |  |  | 23.6 |
Total non-current assets held for sale | 21.7 |  |  | 34.9 |
Total assets held for sale | $ | 127.0 |  |  | $ | 143.0 |
Current Liabilities: |  |  |
Short-term operating lease liabilities | $ | 3.7 |  |  | $ | 5.9 |
Total current liabilities held for sale | 3.7 |  |  | 5.9 |
Long-term operating lease liabilities | 7.3 |  |  | 17.5 |
Total long-term liabilities held for sale | 7.3 |  |  | 17.5 |
Total liabilities held for sale | $ | 11.0 |  |  | $ | 23.4 |
The following table presents the results of discontinued operations:
| Three Months Ended |  | Six Months Ended
| June 1, 2025 |  | May 26, 2024 |  | June 1, 2025 |  | May 26, 2024
| (Dollars in millions)
Net revenues | $ | 71.8 |  |  | $ | 82.4 |  |  | $ | 139.2 |  |  | $ | 159.8 |
Cost of goods sold | 37.3 |  |  | 43.1 |  |  | 68.3 |  |  | 83.8 |
Gross profit | 34.5 |  |  | 39.3 |  |  | 70.9 |  |  | 76.0 |
Selling, general and administrative expenses | 44.1 |  |  | 38.3 |  |  | 85.6 |  |  | 72.9 |
Restructuring charges, net(1) | 6.5 |  |  | — |  |  | 8.3 |  |  | 3.1 |
Net income (loss) from discontinued operations before income taxes | (16.1) |  |  | 1.0 |  |  | (23.0) |  |  | — |
Income tax expense (benefit) | (3.5) |  |  | 0.2 |  |  | (5.2) |  |  | — |
Net income (loss) from discontinued operations, net of taxes | $ | (12.6) |  |  | $ | 0.8 |  |  | $ | (17.8) |  |  | $ | — |
____________ (1)Restructuring charges, net amounts previously attributable to corporate expenses were reported as discontinued operations for the six months ended May 26, 2024.

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