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Shareholders' Equity (Tables) | 12 Months Ended
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May. 02, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of Stock by Class | The number of shares of common stock, par value $0.50 per share, authorized, issued and outstanding and in treasury, was as follows:
| May 2, 2015 |  | May 3, 2014
Authorized | 100,000,000 |  |  | 100,000,000 |
Issued and outstanding | 39,702,036 |  |  | 39,262,168 |
In treasury | 1,346,624 |  |  | 1,342,188 |
Schedule of Expense Related to Equity Awards | The table below summarizes the expense related to the equity awards for fiscal 2015, 2014 and 2013.
| Compensation Expense
| Fiscal 2015 |  | Fiscal 2014 |  | Fiscal 2013
2014 Incentive Plan: |  |  |  |  |
RSAs | $ | 0.5 |  |  | $ | — |  |  | $ | — |
Total 2014 Incentive Plan | $ | 0.5 |  |  | $ | — |  |  | $ | — |
2010 Stock Plan: |  |  |  |  |
RSAs | $ | 1.5 |  |  | $ | 1.5 |  |  | $ | 1.5 |
RSUs | 0.1 |  |  | 0.3 |  |  | 0.5 |
Stock options | 1.2 |  |  | 0.8 |  |  | 0.5 |
Total 2010 Stock Plan | $ | 2.8 |  |  | $ | 2.6 |  |  | $ | 2.5 |
2007 Stock Plan: |  |  |  |  |
RSAs | $ | 0.5 |  |  | $ | 0.4 |  |  | $ | 0.2 |
Stock options | 0.5 |  |  | 0.3 |  |  | 0.6 |
Total 2007 Stock Plan | $ | 1.0 |  |  | $ | 0.7 |  |  | $ | 0.8 |
Total Compensation Expense | $ | 4.3 |  |  | $ | 3.3 |  |  | $ | 3.3 |
2010 Stock Plan |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Summary of Stock Option Activity and Related Information for Stock Options Granted | The following tables summarize the stock option activity and related information for the stock options granted under the 2010 Stock Plan for fiscal 2015, 2014 and 2013:
|  | Summary of Option Activity
|  | Shares |  | Wtd. Avg. Exercise Price
Outstanding April 28, 2012 |  | 240,000 |  |  | $ | 9.97 |
Awarded |  | 120,000 |  |  | 8.64 |
Exercised |  | — |  |  | — |
Cancelled |  | — |  |  | — |
Outstanding April 27, 2013 |  | 360,000 |  |  | 9.53 |
Awarded |  | 120,000 |  |  | 17.27 |
Exercised |  | (59,999 | ) |  | 9.50 |
Cancelled |  | — |  |  | — |
Outstanding May 3, 2014 |  | 420,001 |  |  | 11.74 |
Awarded |  | 108,000 |  |  | 37.01 |
Exercised |  | (285,334 | ) |  | 10.47 |
Cancelled |  | — |  |  | — |
Outstanding May 2, 2015 |  | 242,667 |  |  | $ | 24.49 |
Summary of Stock Option Activity and Related Information for Stock Options Granted, Options Outstanding and Exercisable |
Options Outstanding at May 2, 2015
Shares |  | Exercise Price |  | Avg. Remaining Life (Years)
5,333 |  |  | 10.70 |  |  | 6.3
40,000 |  |  | 8.64 |  |  | 7.3
89,334 |  |  | 17.27 |  |  | 8.3
108,000 |  |  | 37.01 |  |  | 9.3
242,667 |  |  | $ | 24.49 |  |  |
Options Exercisable at May 2, 2015
Shares |  | Exercise Price |  | Avg. Remaining Life (Years)
5,333 |  |  | 10.70 |  |  | 6.3
9,334 |  |  | 17.27 |  |  | 8.3
14,667 |  |  | $ | 14.88 |  |  |
Schedule of Estimated Fair Value of Stock Options on Date of Grant, Assumptions | We estimated the fair value of these stock options on the date of grant using the Black-Scholes option-pricing model with the following assumptions:
| 2010 Stock Plan
| Fiscal 2015 |  | Fiscal 2014 |  | Fiscal 2013
| Awards |  | Awards |  | Awards
Average expected volatility | 51.00 | % |  | 65.33 | % |  | 66.15 | %
Average risk-free interest rate | 1.00 | % |  | 0.65 | % |  | 0.39 | %
Dividend yield | 1.66 | % |  | 2.81 | % |  | 2.94 | %
Expected life of options (in years) | 4.12 |  |  | 7.61 |  |  | 7.18 |
Weighted-average grant-date fair value | $ | 14.99 |  |  | $ | 8.39 |  |  | $ | 4.13 |
Summary of Restricted Stock Awards and Restricted Stock Units Activity | The following table summarizes the RSA and RSU activity for fiscal 2015, 2014 and 2013 under the 2010 Stock Plan:
| RSA Shares |  | RSU Shares
Unvested and unissued at April 28, 2012 | 700,000 |  |  | 180,000 |
Awarded | — |  |  | — |
Vested | — |  |  | (60,000 | )
Forfeited and Cancelled | — |  |  | — |
Unvested and unissued at April 27, 2013 | 700,000 |  |  | 120,000 |
Awarded | — |  |  | — |
Vested | — |  |  | (60,000 | )
Forfeited and Cancelled | — |  |  | — |
Unvested and unissued at May 3, 2014 | 700,000 |  |  | 60,000 |
Awarded | — |  |  | — |
Vested | (633,333 | ) |  | (60,000 | )
Forfeited and Cancelled | — |  |  | — |
Unvested and unissued at May 2, 2015 | 66,667 |  |  | — |
Schedule of Restricted Stock Awards and Restricted Stock Units by Grant Year and Vesting Period |
|  |  |  |  |  | Weighted Average Value |  | Probable Unearned Compensation Expense at May 2, 2015 |  | Target Unearned Compensation Expense at May 2, 2015
Grant Fiscal Year |  | Number of Shares Granted, less Forfeitures |  | Vesting Period |  |  |
2012 |  | 100,000 |  |  | One-third per year, beginning in fiscal 2015, performance based |  | $ | 8.10 |  |  | $ | 0.1 |  |  | $ | 0.1 |
2007 Stock Plan |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Summary of Stock Option Activity and Related Information for Stock Options Granted | The following tables summarize the stock option activity and related information for the stock options granted under the 2007 Stock Plan as of May 2, 2015:
| Summary of Option Activity
| Shares |  | Wtd. Avg. Exercise Price
Outstanding at April 28, 2012 | 738,000 |  |  | 5.79 |
Awarded | 42,500 |  |  | 8.64 |
Exercised | (2,500 | ) |  | 8.10 |
Cancelled | — |  |  | — |
Outstanding at April 27, 2013 | 778,000 |  |  | 5.94 |
Awarded | 42,500 |  |  | 17.27 |
Exercised | (648,141 | ) |  | 5.60 |
Cancelled | — |  |  | — |
Outstanding at May 3, 2014 | 172,359 |  |  | 10.02 |
Awarded | 50,500 |  |  | 37.01 |
Exercised | (114,859 | ) |  | 8.55 |
Cancelled | — |  |  | — |
Outstanding at May 2, 2015 | 108,000 |  |  | 24.21 |
Summary of Stock Option Activity and Related Information for Stock Options Granted, Options Outstanding and Exercisable | Options Outstanding at May 2, 2015
Shares |  | Exercise Price |  | Avg. Remaining Life (Years)
5,000 |  |  | 10.55 |  |  | 5.3
10,000 |  |  | 8.10 |  |  | 6.5
14,167 |  |  | 8.64 |  |  | 7.3
28,333 |  |  | 17.27 |  |  | 8.3
50,500 |  |  | 37.01 |  |  | 9.3
108,000 |  |  | $ | 24.21 |  |  |
Options Exercisable at May 2, 2015
Shares |  | Exercise Price |  | Avg. Remaining Life (Years)
5,000 |  |  | 10.55 |  |  | 5.3
10,000 |  |  | 8.10 |  |  | 6.5
15,000 |  |  | $ | 8.92 |  |  |
Schedule of Estimated Fair Value of Stock Options on Date of Grant, Assumptions | We estimated the fair value of these stock options on the date of grant using the Black-Scholes option-pricing model with the following assumptions:
| Fiscal 2015 Awards |  | Fiscal 2014 Awards |  | Fiscal 2013 Awards
Average expected volatility | 51.00 | % |  | 65.33 | % |  | 66.15 | %
Average risk-free interest rate | 1.00 | % |  | 0.65 | % |  | 0.39 | %
Dividend yield | 1.66 | % |  | 2.81 | % |  | 2.94 | %
Expected life of options | 4.12 years |  |  | 7.61 years |  |  | 7.18 years |
Weighted-average grant-date fair value | $ | 14.99 |  |  | $ | 8.39 |  |  | $ | 4.13 |
Summary of Restricted Stock Awards and Restricted Stock Units Activity | The following table summarizes the RSA activity under the 2007 Stock Plan:
| Fiscal 2015 |  | Fiscal 2014 |  | Fiscal 2013
Unvested at beginning of fiscal year | — |  |  | — |  |  | — |
Awarded | 13,500 |  |  | 27,000 |  |  | 27,000 |
Vested | (13,500 | ) |  | (27,000 | ) |  | (27,000 | )
Forfeited | — |  |  | — |  |  | — |
Unvested at end of period | — |  |  | — |  |  | — |
2000 and 2004 Stock Plans |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Summary of Stock Option Activity and Related Information for Stock Options Granted | The following tables summarize the stock option activity and related information for the stock options granted under the 2000 and 2004 Stock Plans for fiscal 2015, 2014 and 2013:
| Options Outstanding |  | Exercisable Options
| Shares |  | Wtd. Avg. Exercise Price |  | Shares |  | Wtd. Avg. Exercise Price
April 28, 2012 | 251,365 |  |  | $ | 10.96 |  |  | 251,365 |  |  | $ | 10.96 |
Granted | — |  |  | — |  |  |  |  |  |  |
Exercised | (50,675 | ) |  | 11.44 |  |  |  |  |  |  |
Cancelled | (128,105 | ) |  | 10.50 |  |  |  |  |  |  |
April 27, 2013 | 72,585 |  |  | 11.44 |  |  | 72,585 |  |  | 11.44 |
Granted | — |  |  | — |  |  |  |  |
Exercised | (71,175 | ) |  | 11.44 |  |  |  |  |
Cancelled | (1,410 | ) |  | 11.44 |  |  |  |  |
May 3, 2014 | — |  |  | $ | — |  |  | — |  |  | $ | — |

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