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Shareholders' Equity (Tables)
 12 Months Ended
May 03, 2025
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Activity under 2021 Buyback Program

The following table summarizes the activity under the 2021 Buyback Authorization:

 

 

Fiscal Year Ended

 

 

 

May 3, 2025

 

 

April 27, 2024

 

 

April 29, 2023

 

Shares purchased

 

 

136,000

 

 

 

627,586

 

 

 

1,197,236

 

Average price per share

 

$

11.55

 

 

$

21.93

 

 

$

40.14

 

Total cost (in millions)

 

$

1.6

 

 

$

13.8

 

 

$

48.1

 
Summary of Changes in Accumulated Other Comprehensive Income (Loss), Net of Tax A summary of changes in accumulated other comprehensive income (loss), net of tax is shown below:

(in millions)

 

Currency translation adjustments (1)

 

 

Derivative
instruments

 

 

Total

 

Balance as of April 30, 2022

 

$

(30.5

)

 

$

3.7

 

 

$

(26.8

)

Other comprehensive income (loss) before reclassifications

 

 

12.9

 

 

 

(3.8

)

 

 

9.1

 

Amounts reclassified from accumulated other comprehensive income (loss)

 

 

(2.1

)

 

 

—

 

 

 

(2.1

)

Tax benefit (expense)

 

 

(0.1

)

 

 

0.9

 

 

 

0.8

 

Net current period other comprehensive income (loss)

 

 

10.7

 

 

 

(2.9

)

 

 

7.8

 

Balance as of April 29, 2023

 

 

(19.8

)

 

 

0.8

 

 

 

(19.0

)

Other comprehensive loss before reclassifications

 

 

(18.1

)

 

 

(1.3

)

 

 

(19.4

)

Tax benefit

 

 

1.4

 

 

 

0.3

 

 

 

1.7

 

Net current period other comprehensive loss

 

 

(16.7

)

 

 

(1.0

)

 

 

(17.7

)

Balance as of April 27, 2024

 

 

(36.5

)

 

 

(0.2

)

 

 

(36.7

)

Other comprehensive income (loss)

 

 

9.7

 

 

 

(1.8

)

 

 

7.9

 

Tax (expense) benefit

 

 

(1.4

)

 

 

0.4

 

 

 

(1.0

)

Net current period other comprehensive income (loss)

 

 

8.3

 

 

 

(1.4

)

 

 

6.9

 

Balance as of May 3, 2025

 

$

(28.2

)

 

$

(1.6

)

 

$

(29.8

)

 

 

 

 

 

 

 

 

 

 

(1) Includes foreign currency gains and losses related to debt designated as a net investment hedge. See Note 8, "Derivative Financial Instruments and Hedging Activities" for additional information.

 

 
Summary of Stock-based Compensation Expense Related to Equity Awards The table below summarizes the stock-based compensation expense related to the equity awards:

 

 

Fiscal Year Ended

 

 

 

May 3, 2025

 

 

April 27, 2024

 

 

April 29, 2023

 

(in millions)

 

(53 Weeks)

 

 

(52 Weeks)

 

 

(52 Weeks)

 

RSUs

 

$

5.2

 

 

$

2.0

 

 

$

9.9

 

PSUs

 

 

0.7

 

 

 

—

 

 

 

—

 

Deferred non-employee director awards

 

 

0.9

 

 

 

1.0

 

 

 

1.0

 

Non-employee director awards

 

 

0.6

 

 

 

0.6

 

 

 

0.6

 

Total stock-based compensation expense

 

$

7.4

 

 

$

3.6

 

 

$

11.5

 
Summary of RSA and RSU Activity The following table summarizes the RSA activity:

 

 

 

Restricted
stock
awards

 

 

Weighted
average grant
date fair value

 

Non-vested at April 30, 2022

 

 

928,412

 

 

$

28.50

 

Awarded

 

 

21,262

 

 

$

38.41

 

Vested

 

 

—

 

 

$

—

 

Forfeited

 

 

(16,000

)

 

$

28.28

 

Non-vested at April 29, 2023

 

 

933,674

 

 

$

28.73

 

Awarded

 

 

—

 

 

$

—

 

Vested

 

 

—

 

 

$

—

 

Forfeited

 

 

(144,000

)

 

$

28.28

 

Non-vested at April 27, 2024

 

 

789,674

 

 

$

28.81

 

Awarded

 

 

—

 

 

$

—

 

Vested

 

 

—

 

 

$

—

 

Forfeited

 

 

(79,325

)

 

$

28.28

 

Non-vested at May 3, 2025

 

 

710,349

 

 

$

28.87

 
The following table summarizes RSU activity:

 

 

 

Restricted
stock
units

 

 

Weighted
average grant
date fair value

 

Non-vested at April 30, 2022

 

 

936,391

 

 

$

29.16

 

Awarded

 

 

127,277

 

 

$

40.11

 

Vested

 

 

(264,133

)

 

$

30.14

 

Forfeited

 

 

(28,868

)

 

$

33.53

 

Non-vested at April 29, 2023

 

 

770,667

 

 

$

30.47

 

Awarded

 

 

389,966

 

 

$

21.48

 

Vested

 

 

(36,221

)

 

$

42.72

 

Forfeited

 

 

(182,772

)

 

$

29.65

 

Non-vested at April 27, 2024

 

 

941,640

 

 

$

26.43

 

Awarded

 

 

441,353

 

 

$

11.09

 

Conversion of cash bonus to RSUs

 

 

160,401

 

 

$

12.87

 

Vested

 

 

(735,309

)

 

$

24.28

 

Forfeited

 

 

(187,535

)

 

$

22.71

 

Non-vested at May 3, 2025

 

 

620,550

 

 

$

15.31

 
Summary of the Weighted-Average Assumptions for the PSUs Granted The following table provides a summary of the weighted-average assumptions for the PSUs granted:

 

 

Assumptions

 

Expected volatility

 

 

52.40

%

Risk free interest rate

 

 

4.07

%

Expected term (in years)

 

 

2.72

 

Grant date fair value

 

$

14.09

 
Summary of PSU Activity The following table summarizes PSU activity:

 

 

Performance
stock
units

 

 

Weighted
average grant
date fair value

 

Non-vested at April 27, 2024

 

 

—

 

 

$

—

 

Awarded

 

 

208,661

 

 

$

14.09

 

Vested

 

 

—

 

 

$

—

 

Forfeited

 

 

—

 

 

$

—

 

Non-vested at May 3, 2025

 

 

208,661

 

 

$

14.09

 

 
Summary of Awards Granted to Non-employee Directors The following table summarizes awards granted to non-employee directors:

 

 

 

Non-employee director awards

 

 

Deferred non-employee director awards

 

 

Total

 

 

Weighted
average grant
date fair value

 

Outstanding at April 30, 2022

 

 

—

 

 

 

17,956

 

 

 

17,956

 

 

$

47.35

 

Awarded

 

 

15,540

 

 

 

27,794

 

 

 

43,334

 

 

$

36.13

 

Issued

 

 

(15,540

)

 

 

—

 

 

 

(15,540

)

 

$

36.04

 

Outstanding at April 29, 2023

 

 

—

 

 

 

45,750

 

 

 

45,750

 

 

$

40.56

 

Awarded

 

 

16,804

 

 

 

31,569

 

 

 

48,373

 

 

$

32.72

 

Issued

 

 

(16,804

)

 

 

—

 

 

 

(16,804

)

 

$

33.33

 

Outstanding at April 27, 2024

 

 

—

 

 

 

77,319

 

 

 

77,319

 

 

$

37.23

 

Awarded

 

 

56,680

 

 

 

93,749

 

 

 

150,429

 

 

$

9.86

 

Issued

 

 

(56,680

)

 

 

(23,756

)

 

 

(80,436

)

 

$

10.49

 

Non-vested at May 3, 2025

 

 

—

 

 

 

147,312

 

 

 

147,312

 

 

$

22.39

 
Summary of combined stock option activity and related information for stock options granted

The following table summarizes stock option activity:

 

 

Stock
options

 

 

Weighted average exercise price

 

 

Weighted-
average life
(years)

 

 

Aggregate
intrinsic value
(in millions)

 

Outstanding and exercisable at April 30, 2022

 

 

60,000

 

 

$

37.01

 

 

 

2.2

 

 

$

0.5

 

Exercised

 

 

(40,000

)

 

$

37.01

 

 

 

 

 

 

 

Forfeited

 

 

—

 

 

$

—

 

 

 

 

 

 

 

Outstanding and exercisable at April 29, 2023

 

 

20,000

 

 

$

37.01

 

 

 

1.2

 

 

$

0.1

 

Exercised

 

 

—

 

 

$

—

 

 

 

 

 

 

 

Forfeited

 

 

(12,000

)

 

$

37.01

 

 

 

 

 

 

 

Outstanding and exercisable at April 27, 2024

 

 

8,000

 

 

$

37.01

 

 

 

0.2

 

 

$

0.0

 

Exercised

 

 

—

 

 

$

—

 

 

 

 

 

 

 

Forfeited

 

 

(8,000

)

 

$

37.01

 

 

 

 

 

 

 

Outstanding and exercisable at May 3, 2025

 

 

—

 

 

$

—

 

 

 

0.0

 

 

$

0.0