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Quarterly Results (Unaudited) (Tables) | 12 Months Ended
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Jul. 03, 2022
Quarterly Financial Data [Abstract] |
Schedule of Quarterly Financial Data | Quarterly financial data and selected highlights are as follows:
|  | For the Fiscal Quarter Ended |
|  | September 26, 2021 |  |  | December 26, 2021 |  |  | March 27, 2022 |  |  | July 3, 2022 |
Net sales (1) |  | $ | 195,992 |  |  | $ | 201,410 |  |  | $ | 200,780 |  |  | $ | 217,576 |
Gross profit (2) |  |  | 26,097 |  |  |  | 16,890 |  |  |  | 19,144 |  |  |  | 18,354 |
Net income (3) |  |  | 8,680 |  |  |  | 929 |  |  |  | 2,066 |  |  |  | 3,496 |
Net income per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic (4) |  | $ | 0.47 |  |  | $ | 0.05 |  |  | $ | 0.11 |  |  | $ | 0.19 |
Diluted (4) |  | $ | 0.46 |  |  | $ | 0.05 |  |  | $ | 0.11 |  |  | $ | 0.19 |
|  | For the Fiscal Quarter Ended |
|  | September 27, 2020 |  |  | December 27, 2020 |  |  | March 28, 2021 |  |  | June 27, 2021 |
Net sales (5) |  | $ | 141,505 |  |  | $ | 162,776 |  |  | $ | 178,866 |  |  | $ | 184,445 |
Gross profit (6) |  |  | 14,561 |  |  |  | 25,934 |  |  |  | 25,595 |  |  |  | 27,404 |
Net income (7) |  |  | 3,432 |  |  |  | 7,464 |  |  |  | 4,758 |  |  |  | 13,419 |
Net income per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic (4) |  | $ | 0.19 |  |  | $ | 0.40 |  |  | $ | 0.26 |  |  | $ | 0.73 |
Diluted (4) |  | $ | 0.18 |  |  | $ | 0.40 |  |  | $ | 0.25 |  |  | $ | 0.70 |
(1) | The fiscal quarter ending July 3, 2022 included an additional week of sales of approximately $8,700.
(2) | Gross profit for our domestic operations for all fiscal quarters of fiscal 2022 includes adverse pressures from (i) higher raw material costs, (ii) rising input costs, and (iii) the weakening of labor productivity.
(3) | Net income for our domestic operations for all fiscal quarters of fiscal 2022 includes the adverse pressures on gross profit.
(4) | Income per share is computed independently for each of the periods presented. The sum of the income per share amounts for the fiscal quarters may not equal the total for the fiscal year.
(5) | Net sales for the fiscal quarters ended September 27, 2020 and December 27, 2020 includes adverse demand pressures from the COVID-19 pandemic.
(6) | Gross profit for the fiscal quarter ended September 27, 2020 includes adverse demand pressures from the COVID-19 pandemic. Gross profit for the fiscal quarters ended December 27, 2020, March 28, 2021, and June 27, 2021 includes the benefit of exceptional performance by the Brazil Segment primarily due to higher conversion margin and market share capture due to agility and responsiveness during demand recovery in Brazil.
(7) | Net income for the fiscal quarter ended September 27, 2020 includes adverse demand pressures from the COVID-19 pandemic. Net income for the fiscal quarter ended June 27, 2021 includes a recovery of non-income taxes in Brazil due to the favorable conclusion of litigation related to excess social program taxes for multiple prior years.

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- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=124502072&loc=d3e1280-108306 + Details
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