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EARNINGS PER SHARE | 6 Months Ended
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Mar. 29, 2025
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | 12. EARNINGS PER SHARE Basic 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 the three and six months ended March 29, 2025 and March 30, 2024, restricted stock were excluded due to the net loss the Company incurred during the period. The following table reflects a reconciliation of the shares used in the basic and diluted net loss per share computation for the three and six months ended March 29, 2025 and March 30, 2024:
| Three months ended
(in thousands, except per share data) | March 29, 2025 |  | March 30, 2024
| Basic |  | Diluted |  | Basic |  | Diluted
NUMERATOR: |  |  |  |  |  |  |
Net loss | $ | (84,519) |  |  | $ | (84,519) |  |  | $ | (102,680) |  |  | $ | (102,680) |
DENOMINATOR: |  |  |  |  |  |  |
Weighted average shares outstanding - Basic | 53,311 |  |  | 53,311 |  |  | 56,154 |  |  | 56,154 |
Dilutive effect of Equity Plans |  |  | — |  |  |  |  | — |
Weighted average shares outstanding - Diluted |  |  | 53,311 |  |  |  |  | 56,154 |
EPS: |  |  |  |  |  |  |
Net loss per share - Basic | $ | (1.59) |  |  | $ | (1.59) |  |  | $ | (1.83) |  |  | $ | (1.83) |
Effect of dilutive shares |  |  | — |  |  |  |  | — |
Net loss per share - Diluted |  |  | $ | (1.59) |  |  |  |  | $ | (1.83) |
Anti-dilutive shares(1) |  |  | 249 |  |  |  | 416
| Six months ended
(in thousands, except per share data) | March 29, 2025 |  | March 30, 2024
| Basic |  | Diluted |  | Basic |  | Diluted
NUMERATOR: |  |  |  |  |  |  |
Net loss | $ | (2,877) |  |  | $ | (2,877) |  |  | $ | (93,387) |  |  | $ | (93,387) |
DENOMINATOR: |  |  |  |  |  |  |
Weighted average shares outstanding - Basic | 53,551 |  |  | 53,551 |  |  | 56,402 |  |  | 56,402 |
Dilutive effect of Equity Plans |  |  |  |  |  |  | — |
Weighted average shares outstanding - Diluted |  |  | 53,551 |  |  |  |  | 56,402 |
EPS: |  |  |  |  |  |  |
Net loss per share - Basic | $ | (0.05) |  |  | $ | (0.05) |  |  | $ | (1.66) |  |  | $ | (1.66) |
Effect of dilutive shares |  |  | — |  |  |  |  | — |
Net loss per share - Diluted |  |  | $ | (0.05) |  |  |  |  | $ | (1.66) |
Anti-dilutive shares(1) |  |  | 285 |  |  |  | 412
(1) Represents the Time-based RSUs, Relative TSR PSUs and Growth PSUs that are excluded from the calculation of diluted earnings per share for the three and six months ended March 29, 2025 and March 30, 2024 as the effect would have been anti-dilutive.

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