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SHAREHOLDERS' EQUITY
3 Months Ended
Mar. 30, 2025
Shareholders' Equity [Abstract]  
SHAREHOLDER’S EQUITY SHAREHOLDERS' EQUITY
Changes in the balance of each component of shareholders’ equity during the reporting periods were as follows:
Thirteen weeks ended
(in thousands)March 30,
2025
March 31,
2024
Common stock shares
Beginning balance29,588 31,246 
Purchases and retirement of common stock— (857)
Net issuance under equity plans, including tax benefits245 165 
Ending balance29,833 30,554 
Common stock amount
Beginning balance$$
Current period activity— — 
Ending balance
Retained earnings
Beginning balance337,551 478,584 
Net income (loss)(14,348)(1,698)
Purchases and retirement of common stock (1)— (10,067)
Net issuance under equity plans, including tax benefits(825)(1,788)
Stock-based compensation2,060 2,102 
Ending balance324,438 467,133 
Accumulated other comprehensive income (loss)
Beginning balance, net of tax(22,193)(20,712)
Foreign currency translation adjustment before reclassification
(29)915 
Reclassified from accumulated other comprehensive income (loss) (2)
— (973)
Foreign currency translation adjustment
(29)(58)
Ending balance, net of tax(22,222)(20,770)
Total shareholders’ equity ending balance$302,217 $446,364 
(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. (“PeopleReady Canada”) that were recognized through net income (loss) upon the divestiture of the business during the thirteen weeks ended March 31, 2024.