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DISCONTINUED OPERATIONS (Tables)
 6 Months Ended
Jun. 28, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Major Components of Discontinued Operations, Net of Tax Presented In Condensed Consolidated Statement of Operations

The following table represents a reconciliation of the major components of discontinued operations, net of tax, as presented in the Condensed Consolidated Statement of Operations. The Company did not have any financial results related to discontinued operations on its Condensed Consolidated Statement of Operations in the second quarter and first half of 2025.

 

 

Second Quarter

 

First Half

 

(In millions)

 

2024

 

 

2024

 

Major components of discontinued operations before income taxes:

 

 

 

 

 

 

Sales

 

$

2

 

 

$

3

 

Cost of goods and occupancy costs

 

 

—

 

 

 

—

 

Gross profit

 

 

2

 

 

 

3

 

Selling, general and administrative expenses

 

 

11

 

 

 

26

 

Merger and restructuring expenses, net

 

 

—

 

 

 

8

 

Operating loss

 

 

(9

)

 

 

(31

)

Other expense:

 

 

 

 

 

 

Loss from major components of discontinued operations before income taxes

 

 

(9

)

 

 

(31

)

Loss on disposal of discontinued operations

 

 

(77

)

 

 

(77

)

Loss from discontinued operations before income taxes

 

 

(86

)

 

 

(108

)

Income tax benefit

 

 

(17

)

 

 

(23

)

Discontinued operations, net of tax

 

$

(69

)

 

$

(85

)