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Discontinued operations (Tables) | 12 Months Ended
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Mar. 30, 2019
Discontinued Operations and Disposal Groups [Abstract] |
Disposal Groups, Including Discontinued Operations | The following table presents the net income from discontinued operations for the year ended March 30, 2019, March 31, 2018, and March 25, 2017:
|  | Fiscal Year Ended |
|  | March 30, 2019 |  |  | March 31, 2018* |  |  | March 25, 2017* |
|  | (In thousands, except per share amounts) |
Net sales |  | $ | - |  |  | $ | 110,789 |  |  | $ | 224,319 |
Cost of sales |  |  | - |  |  |  | 72,615 |  |  |  | 143,194 |
Gross profit |  |  | - |  |  |  | 38,174 |  |  |  | 81,125 |
Selling, general and administrative expenses |  |  | 381 |  |  |  | 30,902 |  |  |  | 61,970 |
Restructuring charges |  |  | - |  |  |  | - |  |  |  | 211 |
Depreciation and amortization |  |  | - |  |  |  | 1,674 |  |  |  | 3,170 |
Total operating expenses |  |  | 381 |  |  |  | 32,576 |  |  |  | 65,351 |
Operating (loss) income |  |  | (381 | ) |  |  | 5,598 |  |  |  | 15,774 |
Interest and other financial costs |  |  | - |  |  |  | 3,683 |  |  |  | 6,905 |
Debt extinguishment charges |  |  | - |  |  |  | 3,415 |  |  |  | - |
(Loss) income before taxes |  |  | (381 | ) |  |  | (1,500 | ) |  |  | 8,869 |
Income tax expense (benefit) |  |  | - |  |  |  | 92 |  |  |  | (7,065 | )
(Loss) income from discontinued operations, net of taxes |  |  | (381 | ) |  |  | (1,592 | ) |  |  | 15,934 |
Gain on disposal, net of taxes |  |  | - |  |  |  | 37,682 |  |  |  | - |
Net (loss) income from discontinued operations |  | $ | (381 | ) |  | $ | 36,090 |  |  | $ | 15,934 |
Weighted average common shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 17,961 |  |  |  | 17,961 |  |  |  | 17,961 |
Diluted |  |  | 17,961 |  |  |  | 18,393 |  |  |  | 18,418 |
Net (loss) income from discontinued operations per common share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (0.02 | ) |  | $ | 2.01 |  |  | $ | 0.89 |
Diluted |  | $ | (0.02 | ) |  | $ | 1.96 |  |  | $ | 0.87 |
(*) | Recast (refer to note 1)
Schedule of Reconciliation of Gain on Sale of Subsidiary | The table below presents the reconciliation of the gain on the sale of Mayors:
|  | October 23, 2017* |
Cash proceeds on disposal |  | $ | 134,982 |
Legal and professional fees incurred as a result of the Aurum Transaction |  |  | (3,759 | )
Cash |  |  | 3,083 |
Accounts receivable |  |  | 15,705 |
Inventory |  |  | 89,101 |
Prepaid expenses |  |  | 1,110 |
Property and equipment |  |  | 11,176 |
Intangible assets |  |  | 343 |
Other assets |  |  | 244 |
Deferred income tax asset |  |  | 6,705 |
Accounts payable |  |  | (27,207 | )
Accrued expenses |  |  | (3,552 | )
Long-term debt |  |  | (333 | )
Other long-term liabilities |  |  | (2,834 | )
Total identifiable net assets |  |  | 93,541 |
Gain on disposal, net of taxes of nil |  | $ | 37,682 |
(*) | Recast (refer to note 1)

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