XML 32 R20.htm IDEA: XBRL DOCUMENT v3.25.3
INCOME TAXES
 3 Months Ended
Nov. 01, 2025
Income Tax Disclosure [Abstract]  
INCOME TAXES
NOTE 12—INCOME TAXES

The effective tax rate for the first quarter of fiscal 2026 was a benefit rate of 55.6% on pre-tax loss compared to a benefit rate of 16.7% on pre-tax loss for the first quarter of fiscal 2025. The change from the first quarter of fiscal 2025 is primarily driven by discrete tax benefits from favorable tax audit settlements and employee stock awards in the first quarter of fiscal 2026, as well as the tax credit benefit of a solar array that was placed in service during the first quarter of fiscal 2026. The primary drivers for the variation between the Company’s statutory tax rate and its effective tax rate were favorable audit settlements and the solar tax credit benefit.