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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Jun. 28, 2020
Mar. 29, 2020
Dec. 29, 2019
Sep. 29, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 30, 2018
Sep. 30, 2018
Jun. 28, 2020
Jun. 28, 2020
Jun. 30, 2019
Jun. 24, 2018
Income Statement [Abstract]                        
Net sales $ 86,055 [1] $ 170,994 [1] $ 169,511 [1] $ 179,949 [1] $ 179,493 [2] $ 179,989 [2] $ 167,711 [2] $ 181,611 [2] $ 606,509 $ 606,509 $ 708,804 $ 678,912
Cost of sales                 567,469 567,469 642,496 592,484
Gross profit (9,451) [3] 15,383 [3] 15,665 [3] 17,443 [3] 18,342 [4] 13,791 [4] 14,156 [4] 20,019 [4] 39,040 39,040 66,308 86,428
Selling, general and administrative expenses                   43,814 52,690 56,077
Provision (benefit) for bad debts                   1,739 308 (38)
Other operating expense, net                   2,308 2,350 1,590
Operating (loss) income                   (8,821) 10,960 28,799
Interest income                   (722) (628) (560)
Interest expense                   4,779 5,414 4,935
Equity in loss (earnings) of unconsolidated affiliates                 477 477 (3,968) (5,787)
Gain on sale of investment in unconsolidated affiliate                 (2,284) (2,284)    
Impairment of investment in unconsolidated affiliate                 45,194 45,194    
Loss on extinguishment of debt                     131  
(Loss) income before income taxes                   (56,265) 10,011 30,211
Provision (benefit) for income taxes                 $ 972 972 7,555 (1,491)
Net (loss) income $ (20,247) [5] $ (41,111) [5] $ 409 [5] $ 3,712 [5] $ 1,002 [6] $ (1,529) [6] $ 1,171 [6] $ 1,812 [6]   $ (57,237) $ 2,456 $ 31,702
Net (loss) income per common share:                        
Basic $ (1.10) [7] $ (2.23) [7] $ 0.02 [7] $ 0.20 [7] $ 0.05 [7] $ (0.08) [7] $ 0.06 [7] $ 0.10 [7]   $ (3.10) $ 0.13 $ 1.73
Diluted $ (1.10) [7] $ (2.23) [7] $ 0.02 [7] $ 0.20 [7] $ 0.05 [7] $ (0.08) [7] $ 0.06 [7] $ 0.10 [7]   $ (3.10) $ 0.13 $ 1.70
[1] Net sales for the fiscal quarter ended June 28, 2020, includes the impact of global demand declines and decreased economic activity caused by the COVID-19 pandemic
[2] The fiscal quarter ended September 30, 2018 was comprised of fourteen weeks.
[3] Gross loss for the fiscal quarter ended June 28, 2020 includes the adverse impact of lower fixed cost absorption in connection with the COVID-19 pandemic.
[4] Gross profit for the fiscal quarter ended December 30, 2018 includes the adverse impact of a raw material cost spike that could not be effectively offset with timely corresponding selling price increases. Gross profit for the fiscal quarters ended December 30, 2018 and March 31, 2019 includes the adverse impact of significant competitive pressure caused by elevated levels of polyester textured yarn imports.
[5] Net loss for the fiscal quarter March 29, 2020 includes the impairment charge for PAL of $45,194. Net loss for the fiscal quarter ended June 28, 2020 includes the adverse impact of the COVID-19 pandemic and severance charges for involuntary terminations.
[6] Net income for the fiscal quarter ended June 30, 2019 includes severance charges for involuntary terminations.
[7] (Loss) income per share is computed independently for each of the periods presented. The sum of the (loss) income per share amounts for the fiscal quarters may not equal the total for the fiscal year.