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(LOSS) EARNINGS PER SHARE | 12 Months Ended
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Sep. 28, 2024
Earnings Per Share [Abstract] |
(LOSS) EARNINGS PER SHARE | Basic (loss)/income per share is calculated using the weighted average number of shares of common stock outstanding during the period. Restricted stock are included in the calculation of diluted earnings per share, except when their effect would be anti-dilutive. For fiscal 2024, restricted stock were excluded due to the net loss the Company incurred during the year. The following table reflects a reconciliation of the shares used in the basic and diluted net (loss)/income per share computation for fiscal 2024, 2023 and 2022:
|  | Fiscal
(in thousands, except per share) |  | 2024 |  | 2023 |  | 2022
|  | Basic |  | Diluted |  | Basic |  | Diluted |  | Basic |  | Diluted
NUMERATOR: |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) / income |  | $ | (69,006) |  |  | $ | (69,006) |  |  | $ | 57,148 |  |  | $ | 57,148 |  |  | $ | 433,545 |  |  | $ | 433,545 |
DENOMINATOR: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding - Basic |  | 55,613 |  |  | 55,613 |  |  | 56,682 |  |  | 56,682 |  |  | 60,164 |  |  | 60,164 |
Dilutive effect of Equity Plans |  |  |  | — |  |  |  |  | 866 |  |  |  |  | 1,018 |
Weighted average shares outstanding - Diluted |  |  |  | 55,613 |  |  |  |  | 57,548 |  |  |  |  | 61,182 |
EPS: |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) / income per share - Basic |  | $ | (1.24) |  |  | $ | (1.24) |  |  | $ | 1.01 |  |  | $ | 1.01 |  |  | $ | 7.21 |  |  | $ | 7.21 |
Effect of dilutive shares |  |  |  | $ | — |  |  |  |  | $ | (0.02) |  |  |  |  | $ | (0.12) |
Net (loss) / income per share - Diluted |  |  |  | $ | (1.24) |  |  |  |  | $ | 0.99 |  |  |  |  | $ | 7.09 |
Anti-dilutive shares(1) |  |  |  | 467 |  |  |  | 15 |  |  |  | 1
(1) Represents the Relative TSR PSUs and Growth PSUs that are excluded from the calculation of diluted earnings per share for fiscal 2024, 2023 and 2022 as the effect would have been anti-dilutive.

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