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SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jul. 28, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of property and equipment

Property and equipment consisted of the following at July 28, 2018 and July 29, 2017:

	Original Estimated Useful Lives (Years)		2018				2017
	(In thousands, except years)
Land			$	52,929			$	52,989
Buildings and improvements	20-40		446,665				396,733
Leasehold improvements	5-20		106,014				138,466
Warehouse equipment	3-30		185,669				173,591
Office equipment	3-10		85,734				95,794
Computer software	3-7		155,329				147,647
Motor vehicles	3-7		4,884				4,657
Construction in progress			22,105				17,968
			1,059,329				1,027,845
Less accumulated depreciation and amortization			488,183				425,755
Net property and equipment			$	571,146			$	602,090

Schedule of amortization of intangible assets with definite lives on a straight-line basis

Goodwill and other intangible assets with indefinite lives are not amortized. Intangible assets with definite lives are amortized on a straight-line basis over the following lives:

Customer relationships		7-20 years
Non-competition agreements		1-10 years
Trademarks and tradenames		4-10 years

Schedule of changes in the carrying amount of goodwill and the amount allocated by reportable segment

The changes in the carrying amount of goodwill and the amount allocated by reportable segment for the years presented are as follows (in thousands):

	Wholesale				Other				Total
Goodwill as of July 30, 2016	$	348,143			$	18,025			$	366,168
Goodwill from prior fiscal year business combinations	10,102				—				10,102
Contingent consideration for prior year business combinations	(6,093		)		—				(6,093		)
Change in foreign exchange rates	1,082				—				1,082
Goodwill as of July 29, 2017	$	353,234			$	18,025			$	371,259
Impairment	—				(7,872		)		(7,872		)
Goodwill adjustment for prior fiscal year business combinations	220				—				220
Change in foreign exchange rates	(1,112		)		—				(1,112		)
Goodwill as of July 28, 2018	$	352,342			$	10,153			$	362,495

Schedule of entity's other intangible assets

The following table presents the detail of the Company's other intangible assets (in thousands):

	July 28, 2018												July 29, 2017
	Gross Carrying Amount				Accumulated Amortization				Net				Gross Carrying Amount				Accumulated Amortization				Net
Amortizing intangible assets:
Customer relationships	$	197,246			$	61,543			$	135,703			$	197,852			$	48,044			$	149,808
Non-compete agreements	2,900				1,914				986				2,900				1,334				1,566
Trademarks and tradenames	1,700				981				719				1,700				548				1,152
Total amortizing intangible assets	201,846				64,438				137,408				202,452				49,926				152,526
Indefinite lived intangible assets:
Trademarks and tradenames	55,801				—				55,801				55,763				—				55,763
Total	$	257,647			$	64,438			$	193,209			$	258,215			$	49,926			$	208,289

Schedule of estimated future amortization expense

The estimated future amortization expense for each of the next five fiscal years and thereafter on definite lived intangible assets existing as of July 28, 2018 is shown below:

Fiscal Year:	(In thousands)
2019	$	15,147
2020	14,520
2021	13,622
2022	12,337
2023	12,845
2023 and thereafter	68,937
	$	137,408

Schedule of fair value of financial instruments

	July 28, 2018								July 29, 2017
	Carrying Value				Fair Value				Carrying Value				Fair Value
	(In thousands)
Assets:
Cash and cash equivalents	$	23,315			$	23,315			$	15,414			$	15,414
Accounts receivable	579,702				579,702				525,636				525,636
Notes receivable	1,930				1,930				2,359				2,359
Liabilities:
Accounts payable	517,125				517,125				534,616				534,616
Notes payable	210,000				210,000				223,612				223,612
Long-term debt, including current portion	150,150				155,317				161,991				169,058

Schedule of reconciliation of the weighted average number of shares outstanding used in the computation of the basic and diluted earnings per share

A reconciliation of the weighted average number of shares outstanding used in the computation of the basic and diluted earnings per share for all periods presented follows:

	Fiscal year ended
	July 28, 2018				July 29, 2017				July 30, 2016
	(In thousands, except per share data)
Basic weighted average shares outstanding	50,530				50,570				50,313
Net effect of dilutive common stock equivalents based upon the treasury stock method	307				205				86
Diluted weighted average shares outstanding	50,837				50,775				50,399
Potential anti-dilutive share-based payment awards excluded from the computation above	93				44				84
Net income	$	165,670			$	130,155			$	125,766
Basic earnings per share	$	3.28			$	2.57			$	2.50
Diluted earnings per share	$	3.26			$	2.56			$	2.50

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