SHAREHOLDERS' EQUITY (Tables)

6 Months Ended

Jun. 30, 2024

Changes in the balance of each component of shareholders’ equity during the reporting periods were as follows:


	Thirteen weeks ended				Twenty-six weeks ended
(in thousands)	June 30, 2024		June 25, 2023		June 30, 2024		June 25, 2023

Common stock shares
Beginning balance	30,554		31,507		31,246		32,730
Purchases and retirement of common stock	(632)		(520)		(1,489)		(1,877)
Net issuance under equity plans, including tax benefits	37		9		202		143
Stock-based compensation	—		—		—		—
Ending balance	29,959		30,996		29,959		30,996

Common stock amount
Beginning balance	$	1	$	1	$	1	$	1
Current period activity	—		—		—		—
Ending balance	1		1		1		1

Retained earnings
Beginning balance	467,133		487,893		478,584		516,332
Net income (loss)	(104,710)		(7,323)		(106,408)		(11,612)
Purchases and retirement of common stock (1)	(6,919)		(9,482)		(16,986)		(34,200)
Net issuance under equity plans, including tax benefits	66		57		(1,722)		(2,005)
Stock-based compensation	2,742		2,664		4,844		5,294

Ending balance	358,312		473,809		358,312		473,809

Accumulated other comprehensive income (loss)
Beginning balance, net of tax	(20,770)		(20,271)		(20,712)		(20,018)
Foreign currency translation adjustment before reclassification	221		506		1,136		253
Reclassified from accumulated other comprehensive income (loss) (2)	—		—		(973)		—
Foreign currency translation adjustment	221		506		163		253
Ending balance, net of tax	(20,549)		(19,765)		(20,549)		(19,765)

Total shareholders’ equity ending balance	$	337,764	$	454,045	$	337,764	$	454,045

(1)Under applicable Washington State law, shares purchased are not displayed separately as treasury stock on our Consolidated Balance Sheets and are treated as authorized but unissued shares. It is our accounting policy to first record these purchases and the related excise tax as a reduction to our common stock account. Once the common stock account has been reduced to a nominal balance, remaining purchases are recorded as a reduction to our retained earnings. Furthermore, activity in our common stock account related to stock-based compensation is also recorded to retained earnings until such time as the reduction to retained earnings due to stock repurchases has been recovered.

(2)Foreign currency translation adjustments related to Labour Ready Temporary Services, Ltd. that were recognized through net income (loss) upon the divestiture of the business during the twenty-six weeks ended June 30, 2024.