Summary of Significant Accounting Policies (Tables)

12 Months Ended

May 31, 2025

Calculation of Net Income Per Common Share

The following table summarizes the calculation of net income (loss) per share for the years ended May 31, 2025, May 25, 2024 and May 27, 2023 (in thousands, except per share amounts):


	For the Years Ended
	May 31, 2025		May 25, 2024		May 27, 2023

Net income (loss)	$	(191,780)	$	21,034	$	54,359
Weighted-average shares outstanding:
Basic weighted-average shares	33,063		33,445		33,407
Effect of dilutive shares:
Weighted-average shares — Basic	33,063		33,445		33,407
Potentially dilutive stock options	-		48		359
Potentially dilutive employee stock purchase plan	-		14		8
Potentially dilutive restricted stock awards	-		56		64
Potentially dilutive restricted stock units	-		179		233
Potentially dilutive performance stock units	-		153		114
Diluted weighted-average shares outstanding	33,063		33,895		34,185
Net income (loss) per common share:
Basic	$	(5.80)	$	0.63	$	1.63
Dilutive	$	(5.80)	$	0.62	$	1.59
Anti-dilutive shares not included above	2,730		2,152		704

Summary of the Activity in Allowance for Credit Loss

The following table summarizes the activity in the allowance for credit losses (in thousands):


	Beginning Balance		Charged to Operations		Currency Rate Changes		Other		(Write-offs)/ Recoveries		Ending Balance
Years Ended:
May 27, 2023	$	2,121	$	1,440	$	1	$	-	$	(279)	$	3,283
May 25, 2024	$	3,283	$	137	$	5	$	2	$	(672)	$	2,755
May 31, 2025	$	2,755	$	1,239	$	(15)	$	-	$	(1,376)	$	2,603

Schedule of Estimated Useful Lives of Property and Equipment

Property and equipment is stated at cost, less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the following estimated useful lives:



Furniture and fixtures			5 to 10 years
Leasehold improvements			Lesser of useful life of asset or term of lease
Computer, equipment and software			3 to 5 years