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INCOME TAXES
 9 Months Ended
Apr. 29, 2023
Income Tax Disclosure [Abstract]  
INCOME TAXES
NOTE 11—INCOME TAXES

The effective tax rate for the third quarter of fiscal 2023 was a benefit rate of 14.3% compared to an expense rate of 29.9% for the third quarter of fiscal 2022. The change was primarily driven by the impact of a partnership investment entered into in the third quarter of fiscal 2023, and the reduction in pre-tax income during the third quarter of fiscal 2023.
The effective tax rate for fiscal 2023 year-to-date was 11.8% compared to 19.9% for fiscal 2022 year-to-date. The change was driven primarily by the impact of a partnership investment entered into in the third quarter of fiscal 2023, and the reduction in pre-tax income in fiscal 2023 year-to-date as compared to fiscal 2022 year-to-date. This was partially offset by the lower discrete tax benefits in fiscal 2023 year-to-date related to the vesting of employee stock awards as compared to fiscal 2022 year-to-date.