SHAREHOLDERS' EQUITY (Tables)

6 Months Ended

Jun. 29, 2025

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 29, 2025		June 30, 2024		June 29, 2025		June 30, 2024

Common stock shares
Beginning balance	29,833		30,554		29,588		31,246
Purchases and retirement of common stock	—		(632)		—		(1,489)
Net issuance under equity plans, including tax benefits	59		37		304		202

Ending balance	29,892		29,959		29,892		29,959

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

Retained earnings
Beginning balance	324,438		467,133		337,551		478,584
Net income (loss)	(160)		(104,710)		(14,508)		(106,408)
Purchases and retirement of common stock (1)	—		(6,919)		—		(16,986)
Net issuance under equity plans, including tax benefits	139		66		(686)		(1,722)
Stock-based compensation	2,361		2,742		4,421		4,844

Ending balance	326,778		358,312		326,778		358,312

Accumulated other comprehensive income (loss)
Beginning balance, net of tax	(22,222)		(20,770)		(22,193)		(20,712)
Foreign currency translation adjustment before reclassification	635		221		606		1,136
Reclassified from accumulated other comprehensive income (loss) (2)	—		—		—		(973)
Foreign currency translation adjustment	635		221		606		163
Ending balance, net of tax	(21,587)		(20,549)		(21,587)		(20,549)

Total shareholders’ equity ending balance	$	305,192	$	337,764	$	305,192	$	337,764

(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 twenty-six weeks ended June 30, 2024.