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Quarterly Results (Unaudited) (Tables)
 12 Months Ended
Jun. 30, 2024
Quarterly Financial Data [Abstract]  
Schedule of Quarterly Financial Data

Quarterly financial data and selected highlights are as follows:

 

 

For the Fiscal Quarter Ended

 

 

 

October 1, 2023

 

 

December 31, 2023

 

 

March 31, 2024

 

 

June 30, 2024

 

Net sales (1)

 

$

138,844

 

 

$

136,917

 

 

$

148,996

 

 

$

157,452

 

Gross (loss) profit (2)

 

 

(575

)

 

 

1,636

 

 

 

4,764

 

 

 

10,791

 

Net loss (3)

 

 

(13,270

)

 

 

(19,846

)

 

 

(10,295

)

 

 

(3,984

)

Net loss per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic (4)

 

$

(0.73

)

 

$

(1.10

)

 

$

(0.57

)

 

$

(0.22

)

Diluted (4)

 

$

(0.73

)

 

$

(1.10

)

 

$

(0.57

)

 

$

(0.22

)

 

 

 

For the Fiscal Quarter Ended

 

 

 

October 2, 2022

 

 

January 1, 2023

 

 

April 2, 2023

 

 

July 2, 2023

 

Net sales (5)

 

$

179,519

 

 

$

136,212

 

 

$

156,738

 

 

$

151,058

 

Gross profit (loss) (6)

 

 

6,563

 

 

 

(8,000

)

 

 

9,653

 

 

 

6,025

 

Net loss (7)

 

 

(7,834

)

 

 

(18,037

)

 

 

(5,184

)

 

 

(15,289

)

Net loss per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic (4)

 

$

(0.44

)

 

$

(1.00

)

 

$

(0.29

)

 

$

(0.85

)

Diluted (4)

 

$

(0.44

)

 

$

(1.00

)

 

$

(0.29

)

 

$

(0.85

)

 

(1)
Net sales for fiscal 2024 includes lower volumes in the Americas and Asia Segments as a result of lower global demand in connection with inventory destocking efforts of major brands and retailers.

 

(2)
Gross (loss) profit for our domestic operations for all fiscal quarters of fiscal 2024 was impacted by higher manufacturing costs and lower conversion margins.

 

(3)
Net loss for our domestic operations for all fiscal quarters of fiscal 2024 includes the adverse pressures on gross (loss) profit. Net loss for fiscal 2024 includes both a loss on dissolution of a joint venture and severance costs.

 

(4)
Loss per share is computed independently for each of the periods presented. The sum of the loss per share amounts for the fiscal quarters may not equal the total for the fiscal year.

 

(5)
Net sales for all fiscal quarters of fiscal 2023 includes adverse demand pressures in the Americas and Asia Segments.

 

(6)
Gross profit (loss) for our domestic operations for all fiscal quarters of fiscal 2023 was impacted by lower production volumes driving weaker fixed cost absorption in connection with lower sales volumes.

 

(7)
Net loss for our domestic operations for all fiscal quarters of fiscal 2023 includes the adverse pressures on gross profit (loss). Net loss for the fourth quarter of fiscal 2023 includes an impairment further described in Note 9, "Property, Plant and Equipment, Net."