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Assets Held for Sale | 6 Months Ended
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Oct. 25, 2025
Discontinued Operations and Disposal Groups [Abstract] |
Assets Held for Sale | Note 4: Assets Held for Sale During the second quarter of fiscal 2026, the Company committed to a plan to dispose a portion of our Casegoods wholesale business (the “disposal group”) within the next 6 months. Assets and liabilities are classified as held for sale when management commits to a plan to sell a disposal group and concludes that it meets all other relevant criteria in accordance with U.S. GAAP. As of October 25, 2025, we met the criteria to classify the following assets as held for sale:
(Unaudited, amounts in thousands) |  | 10/25/2025
Inventory |  | $ | 23,333 |
Property, plant and equipment, net |  | 4,948 |
Intangible assets |  | 1,155 |
Total assets held for sale |  | $ | 29,436 |
Assets held for sale are measured at the lower of their carrying value or fair value less costs to sell and are no longer depreciated or amortized. Any loss resulting from the measurement is recognized in the period the held for sale criteria are met while gains are not recognized until the date of sale. Upon classifying these assets as held for sale, we concluded that the total carrying value of the disposal group did not exceed its fair value and no impairment was recorded. The disposal group does not meet the requirements to be classified as discontinued operations as the disposition of a portion of the Casegoods business does not represent a strategic shift that will have a material effect on the Company’s operations and financial results. The Casegoods business currently operates within the Wholesale segment.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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